Ted Baker Plc Is A London Listed Retail Finance Essay - Free Essay Example

Sample details Pages: 5 Words: 1368 Downloads: 8 Date added: 2017/06/26 Category Business Essay Type Research paper Did you like this example? Ted Baker Plc is a London listed retail company. The company is headquartered in London and has operations in other European counties as well as US, Asia, Middle East and China. The company had gross revenue of pound;215.625million, a 15% jump from the year before. However, the profits for the year remained significantly unchanged at pound;17557, a 1.6% rise from the previous year. 85% of the total company revenue came from United Kingdom and the greater Europe with the rest coming from the US (12.9%) and Hong Kong (2.1%). By virtue of the companys overseas holdings, it is exposed to a number of risks. These include strategic, financial, operational and political risks. According to the firms latest annual report for the year ended 28 January 2012, the risks pose a significant threat to its performance and can inflict material changes to financial statements in the year of their occurrence. Most importantly, the firm has to measure the probability of their occu rrence and mitigate against their effect on its bottom line. Country risks As mentioned, Ted Baker operated in a number of countries. Each of these countries posses specific country risks to the firm. To begin with, the firm faces a number of country specific risks such as blockage in transfer of funds as well as cultural and institutional crash of norms. For instance, Ted Bakers Chinese operation faces a number of transfer restrictions from the country. That means that the company might have trouble in repatriating profits realized from there. To mitigate against this risk, the company has set up operations in Hong Kong, a relatively secure destination with minimal restriction on the transfer of capital and profits in and out of the country (Ted Baker Inc., 2012). Operations in a foreign country must observe the rules and regulations relating to ownership of business. In most of Ted Bakers operating countries, 100% ownership is not permissible. Therefore, local residents h ave to be included as strategic partners in the organisation to facilitate licensing by authorities. This dilution in ownership leads to weak control of organisational strategy. To mitigate against these risks, the company assesses its entry strategy n a case-by-case basis to ensure that the local investors in the target market add value to the management team. In most cases, the company acquires already established companies with their entire supply chain intact and retains some minority shareholding to ensure that it maintains the needed legal and regulatory threshold. Another country-specific risk that the company faces relates to human resource norms in the foreign operations. Since it is a UK company, it is used to having employees with flexible work schedule. However, the Middle Eastern workers have the right to take extended break during working hours to observe their religious rituals. In the same way, American workers have very strong labor unions that have very strong a bility to bargain for higher wages through industrial action. These factors pose enormous risks to the company and can result in material losses in those markets. Ted Baker also faces the risk of protectionism in its key markets. This is particularly so in the United States in the wake of the financial crises. USA is keen to protect its local industry and has therefore increased its non-tariff barriers for goods manufactured elsewhere. This increases the cost of doing business and erodes the businesss competitiveness in the American market. Ted Baker also faces risks relating to nepotism and corruption in its operating markets. In the Middle East for instance, executives hire employees based on kinship and other affiliations as opposed to merit. This makes it hard for the organization to attract and retain the best talent as hiring is best on referrals and not merit. It also opens up avenues for conflict of interest and outright corruption by the executives. Given that these e xecutives are part owners of the company as mandated by law, the company has no choice but to retain them. Most importantly, Ted Baker faces the risk of loss of intellectual property from its operating markets. This is especially true given that most countries require a mandatory percentage of local ownership in order to pass on expertise to them. In Hong Kong for instance, intellectual property rights are rarely enforced. Locals can steal proprietary design information and use it to make their own products. This poses enormous risk for the company. Country risk is higher in cases of long-term investment that are not made through a regulated market. Given the nature of entry the Ted baker uses in establishing its operations (mostly mergers and acquisitions), and the long-term nature of its investments, the company is exposed to high levels of risk. Worse still, most of the country risk elements that the company faces cannot be hedged effectively. This means extreme loss in the event of such risk crystallizing (Ted Baker Inc., 2012). Political risk Political stability is crucial to a firms sustained growth and profitability. Political instability in the Middle East poses a major problem for the firm. Following the Arab spring in the last few years, the firm experienced disruptions in supply chains in the region. This led to high operational costs and outright losses in cases of shutdowns (Ted Baker Inc., 2012). Ted baker assesses political risk at two levels: Macro and Micro. At the macro level, the firms management assesses the host countrys attitudes towards foreign investors and political stability. If the country is hostile to foreign investors and has a degree of political instability as indicated by civil strife or other indications, the market is considered unsafe and not worth investing in. Only countries that have relative political stability and that are friendly to international investors are considered targets for investments. At t he micro level, Ted Baker assesses whether its activities can conflict with the target countries existing regulations. However, this is not sufficient in the face of a changing political landscape as is the case in most of its operating markets. The management anticipates the likely effect of changes in the political landscape on the operations of the firm. In all the markets that the company has operations, the firm has minimal political risk at the micro level. This is because of its effective corporate governance structure that guides its operations (Ted Baker Inc., 2012). As detailed in its final report, Ted Baker relies heavily on effective corporate governance to stave off most of micro level risks. The principles of corporate governance guide its operations in all markets and this minimizes the chances of going against the rules and regulations. in particular, the company observes all rules of accountability (appropriate board size, transparent ownership, ownership neutral ity and defined board accountability), disclosure and transparency (broad, accurate and timely disclosure using proper accounting standards), independence (independent audits, dispersed ownership, independent oversight, independent directors) and shareholder equity (one vote per share) (Ted Baker Inc., 2012). Ted Baker has an insurance policy against political risks. Under the policy agreement, the company can claim compensation for occurrences such as inconvertibility, expropriation and loss of income from political violence. This is the most effective hedge against these risks. Ted Baker is also exposed to currency and exchange rate risk. This mainly occurs on purchases denominated in USD and Euros. The group also publishes its final accounts in sterling pound and it therefore incurs some losses in translation. To mitigate against these effects, the company used financial instruments (hedging) (Ted Baker Inc., 2012). Conclusion Ted Baker Plc has operations UK, France and other European counties, USA, Asia, Middle East and China. Most of the companys profit is derived from United Kingdom and the greater Europe with the rest coming from the US (12.9%) and Hong Kong (2.1%). Due to its international operations, the firm faces a number of risks both country specific and firm specific. These include transfer risks as well as cultural and institutional risks. The company has insured itself against most of the country specific risks. It leverages on strong corporate governance structures to avoid micro risks. Ted Bakers exposure to currency and exchange rate risk due to transactions done in different currencies as well as and translation of financial data to sterling pounds results in losses for the firm. To mitigate against these effects, the company uses financial instruments to hedge e its exposure. Don’t waste time! Our writers will create an original "Ted Baker Plc Is A London Listed Retail Finance Essay" essay for you Create order

Vlsi Based Accident Information and Car Security System

Abstract: VLSI based Accident information and car security system deals with the concern of saving the victim , who get trapped in accident and also about the car security. Accident of the car is detected using pressor sensors which are fixed in car. Accident information to the nearest hospital is carried out with the help of RF communication. The location of the car is found using the GPS technique. The security of car is ensured by using password. The theft information is sent to the owner’s mobile using GSM module. The ultimate design of the project is in VLSI. FPGA is used to interface these modules. Keywords: Very Large Scale Integration, Global Positioning System, Global System for Mobile Communication. I.INTRODUCTION: The†¦show more content†¦By comparing the codes, the time difference between the satellite generated the code and the receiver generated the code can be determined. This interval is the travel time of the code. Multiplying this travel time, in seconds, by 186,000 miles per second gives the distance from the receiver position to the satellite in miles. D. Increased accuracy by using differential gps: A technique called differential correction is necessary to get accuracies within 1 -5 meters, or even better, with advanced equipment. Differential correction requires a second GPS receiver, which is a base station, collecting data at a stationary position at a precisely known point (typically it is a surveyed benchmark). Because the physical location of the base station is known, the correction factor can be computed by comparing the known location with the GPS location determined by using the satellites.The differential correction process takes this correction factor and applies it to the GPS data collected by a GPS receiver in the field. Differential correction eliminates most of the errors listed in the GPS Error Budget discussed earlier. III.GLOBAL SYSTEM FOR MOBILE COMMUNICATIONS The Global System for Mobile Communications (GSM) is the most popular standard for mobile phones in the world. GSM service is used by over 2 billion people across more than 212 countries andShow MoreRelatedAsaaaa3527 Words   |  15 PagesLOGIN SEARCH ACTIVE TOPICS Electrical, Electronics Communication Projects Projects Q A, Guidance for your projects  » Projects Forum  » Electrical, Electronics Communication Projects Ads by Google Alarm Monitoring System Alarm House Alarm System Telephone System Topic: ECE Mini Projects Found this useful? Give a +1 Free Project Downloads 12 Add to Facebook: Get Free Electronics (ECE) / Electrical (EEE) Project Downloads: Electronics Project Download ECE Mini Project Downloads

Cognitive Development In Children Experiment Essay

Cognitive Development in Children: Experiment nbsp;nbsp;nbsp;nbsp;nbsp;Piaget suggests that children prior to the age of seven develop an objective moral orientation. They tend to evaluate the good or bad actions on the basis of the consequences of the actions (good or bad). At about the age seven, children develop a subjective moral orientation which involves evaluation of behavior in terms of whether the intentions were good or bad. This investigational method is used to determine whether children under the age of seven have objective moral reasoning; along with, if children about the age of seven have subjective moral reasoning. Method Subjects: The subjects were children from 1990 to 1995 between the ages of three to 11.†¦show more content†¦Story Pair Two: A. Sarah (Kenny) was playing on her (his) swing in the back yard. Her brother (his sister) was also playing in the back yard. He (she) decided to go over to the sandbox to play. As he (she) walked by the swing, Sarah (Kenny) tried to kick him (her) but misses. B. Pauline (Billy) was watching TV. Her brother (his sister) was playing nearby. She (he) hears her (his) friends playing outside and gets up to run outside and play with them. As she (he) is running she (he) bumps into her brother (his sister). He (she) falls down, his (her) nose begins to bleed, and he (she) begins to cry. Story Pair Three: A. Anne (Scott) is playing on the wall near her (his) house. She (he) is not supposed to play there because it is very dangerous to climb on the wall. But Anne (Scott) goes ahead and climbs to the top of the wall. She (he) slips and bruises her (his) knee. B. Barbara (Trevor) climbs up a very tall tree to help her (his) kitten get down. She (he) reaches the kitten and helps her get down. But as she (he) climbs down, a branch of the tree breaks and Barbara (Trevor) falls to the ground. She (he) breaks a leg. 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Early College free essay sample

Todays youth are talented beyond compare. I feel that Selma Early College High School gives students the opportunities to not only discover their talents but to expound on them. I want to be in Selma Early College High School, because Selma Early College High School provides an academically enriching experience, Selma Early College High School provides a nurturing environment, and Selma Early College High School will prepare me for my future. First, Selma Early College High School offers challenging courses, such as Honors Courses, as well as, college courses. Selma Early College High School provides an early college experience and gives you opportunities to experience professional internships. By receiving an associate degree when I graduate, I am given an edge on my academic goals, which is earning Ph. D in Nursing. Furthermore, Selma Early College High School provides academic, as well as, extracurricular activities. This important to me, because I enjoy being improved. We will write a custom essay sample on Early College or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page In addition to providing an enriching academic experience Selma Early College High School also provides nurturing environment. Selma Early College High School gives students small class sizes, giving students a better environment for one on one career counseling. Selma Early College High School helps students balance academic and extra curriculum activities. Selma Early College High School mentors students and offers time management and study opportunities to attend. Lastly, Selma Early College High School, prepares me for my future. My future ambition is to become an Registered Nurse. Yes, nursing is challenging, but Selma Early College High School classes are challenging, but yet enriching. Likewise, Selma Early College High School will be challenging, but I know my attending will be rewarding. In conclusion Selma Early College High School is the best educational program for me and my academic goals. Reason being, because of Selma Early College High School is enriching academic experience, nurturing environment and it prepares me for my future.

Motivation in Kazkom Bank Essay Example

Motivation in Kazkom Bank Essay Table of Contents Table of Contents1 I. Overview of Internship2 II. Organization Part4 About Kazkommertsbank4 History of Kazkommertsbank4 Kazkommertsbank business segments5 Corporate banking5 Banking for Small and Medium-Sized Enterprises (SME)5 Retail Banking5 Kazkommertsbank Group6 Management issues6 Marketing issues7 Market dynamics7 Competitive dynamics7 SWOT analysis8 Strengths8 Finance/Accounting issues9 Operations management and Information system issues9 Summary and Recommendations10 References17 I. Overview of Internship a. Name: Yekaterina Surname: Andriyachshenko ID: 20073468 Bachelor of Science in Administration and Accounting (BSc) Major in Management Tel: 8  705  610 18 17 e-mail: [emailprotected] com b. Internship dates/Period: Starting date: January, 19 Ending date: March, 30 c. Internship company name and address, contact information JSC â€Å"Kazkommertsbank† 135 zh, Gagarin ave. , 480060, Almaty, Republic of Kazakhstan. Phone: +7(727) 2-58-56-70 Phone: +7(727) 258-51-85 Fax: +7(727) 258-52-29 web-site: http://www. kkb. kz d. Internship company supervisor’s name and position Mr. Abai Smailov, Senior Risk Manager Tel: + 7  701  758 14 49 e-mail: [emailprotected] kz e. Student’s career interest(s) To get working experience in a big multinational company or financial institution in order to have good career opportunities. f. Internship objectives The main objective of an internship is to gain a practical experience and apply all theoretical knowledge in management and financial areas. Moreover, it is beneficial to pass an internship in order to get and develop personal skills in professional environment, to understand some obstacles that can be faced while applying a job in the future. We will write a custom essay sample on Motivation in Kazkom Bank specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Motivation in Kazkom Bank specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Motivation in Kazkom Bank specifically for you FOR ONLY $16.38 $13.9/page Hire Writer As well as this, one of the objectives is to understand whether it is the sphere and the company where I want to start my career. g. Job description/duties responsibilities I have performed jobs and tasks according to the functional duties of specialists, in particular I provided help in conducting everyday procedures connected with the risk management of a bank, carried out market research on statistical data that was useful for performance of the department. In addition to this I classified and sorted out the documentation of the department and worked with clients’ databases, as well as did some work connected with optimization of data. . Student’s contribution to the company Passing internship at Kazkommertsbank had benefits for the company such as: †¢ Help in routine work; †¢ Fresh ideas; †¢ Ability to accomplish required tasks earlier than is set by deadlines; †¢ Good candidates for future job offer i. Benefits to the individual/Student †¢ It was the first working experience; †¢ Ability to apply theoretical knowledge to practical; †¢ Enhance classroom experience; †¢ Develop and practice skills to solve business problems; †¢ Becoming confident in business sphere; Develop personal skills by developing professional talent. j. Problems and difficulties if any faced during the internship period One of the main difficulties was to combine studying and working processes. Another obstacle was connected with the language. The theory that we obtain at KIMEP is in English, while business communication at JCS â€Å"Kakommertsbank† primarily is in Russian, therefore, many terms were new for me, but it was extremely beneficial to work with such difficulties. II. Organization Part About Kazkommertsbank Established in 1990, Kazkommertsbank is one of the largest private full-service banks in Kazakhstan, measured by total assets. It provides corporate banking, retail banking and other financial services. The Bank’s principal activities traditionally have been the acceptance of deposits and the provision of loan and credit facilities in Tenge and foreign currencies. It also offers a wide-range of current account-related services, such as direct debit payments, and also retail (banking) loans. The bank has affiliated banks in Kyrgyzstan (Open Society  «Kazkommertsbank Kyrgyzstan »), in Russia (Moskommertsbank) and in Tajikistan (JSC  «Kazkommertsbank Tajikistan ») (www. kkb. kz). As for October, 1 2009 owner’s equity equaled to 384  484 millions Tenge, ROA was 0,52% and ROE amounted to 3,80% (www. kase. kz). Essential source of attraction of means there are bank deposits which make about third in total amount of funding. According to the bank’s official web-site, the bank also offers a ide spectrum of activities in service of current accounts of clients, such as payments, debit and credit cards and retail banking. Kazkommertsbank is a unique bank in Kazakhstan, emitting credit and debit cards of all three largest international payment systems-VISA, MasterCard (Cirrus/Maestro) and American Express. Moreover, the bank released the first credit bonus cards called GoCard in 2005. Kazkommertsbank is the leader in a Kazahstani banking system in the market of remote bank service. In the beginning of July, 2008 the number of the registered users of a financial portal for physical persons Homebank. z has exceeded a mark of 150 000 people, among which are not only clients of Kazkommertsbank, but also owners of payment cards of joint-stock company KazInvestbank, joint-stock company  «Citibank Kazakhstan » and Subsidiary Bank of the joint-stock company  «SBERBANK ROSSII » (www. kkb. kz). Except actually bank services, the bank renders also other financial services. Being one of the major participants of a securities market and the currency market of Kazakhstan, it provides management of monetary resources, including currency-conversion operations, operations in the monetary markets, and operations with securities. According to the general Bank license, the bank has the right to carry out transactions (sale, purchase and storage) with valuable metals, including gold and silver. Since 2001 the bank offers trusting services, mainly, confidential management of money resources and actives to the corporate and retail clients History of Kazkommertsbank AS it is stated on www. kkb. kz, the history of Kazkommertsbank (further – Bank) takes the start from â€Å"Medeu† Bank which was formed on July, 12, 1990 as an open joint-stock company according to the legislation of the Kazakh Soviet Socialist Republic. After the country became the sovereign state, â€Å"Medeu† Bank has been re-registered into an OJSC Kazkommertsbank and received the license of National bank of the Republic of Kazakhstan â„â€" 48 as of October, 21, 1991 on carrying out bank operations. This day also is considered as an official birthday of the Bank. In April, 1994 the Bank united with other Kazakhstan commercial bank â€Å"Astana Holding†. Since 1994 the Bank participated in a number of the special programs prepared and ponsored by National Bank of RK and Ministry of Finance RK, and also the international financial institutions such, as The World Bank, European Bank of Reconstruction and Development, Islamic Bank of Development, Kreditanstalt fur Wiederaufbau and The Asian Bank of Development (www. kkb. kz). In 1995 Kazkommertsbank actively participated in economically and politically significant processes of re-structuring and privatization of the enterprises of oil-and-gas branches as an officia l adviser of RK Government. During 1996 the bank tried to achieve basic standards to conform to the international standards of bank activities. So, â€Å"Kazkommertsbank† became one of the first Kazakhstan banks that received the international auditors report (from â€Å"Deloitte and Touche†). In May 1998, Kazkommertsbank was the first who issued Eurobonds for the sum of 100 million US dollars and for the period of 3 years. In total for the next years the Bank has issued internal and international bonds for the sum more than 1,5 billion US dollars (www. kkb. kz). In December 2005 Kazkommertsbank has signed an agreement on the syndicated loan in 1,3 billion dollars, which was the largest agreement among similar transactions not only in Kazakhstan, but also in all Central and the Eastern Europe and the CIS region. In March 2006 â€Å"Kazkommertsbank† won a nomination  «the Best bank on emerging markets successively: Kazakhstan » following the results of annual research of international magazine Global Finance. Besides, it won the nominations  «Best Bank in Trading Financing » and  «Best Bank in the Currency Market ». All this time Kazkommertsbank has been receiving the rank  «Best Bank of Kazakhstan » (www. kkb. kz). Kazkommertsbank business segments Corporate banking KKB is the largest lender to medium-sized companies and international companies operating in Kazakhstan. KKB’s competitive advantages in corporate banking include its ability to provide larger and longer-term facilities than its peers, and its access to cheaper financing. KKB currently provides payroll services to its main corporate clients, which is used for cross-selling into retail products. Banking for Small and Medium-Sized Enterprises (SME) (www. kkb. kz). KKB is rapidly increasing its banking services for SMEs, the market is regarded as underserved and as offering high-yielding lending opportunities. Retail Banking KKB offers its retail customers a comprehensive range of products, including residential mortgages, consumer loans, e-banking, debit and credit cards, and deposit and current accounts. It has one of the top three positions in terms of market share, residential mortgages and retail loans, retail deposits, and credit cards, and ATM services. KKB had about 253,000 retail customers as of 30 June 2006 and plans to increase its retail operations by expanding its branch network to 240 by 2010 and launching an aggressive marketing campaign focused on cross-selling opportunities. Management issues As it is stated on the web-site of â€Å"Kazkommertsbank†, their management issues are the following. Mission is to provide high quality products and services to predominantly medium- and large-sized Kazakhstani and international corporations operating in Kazakhstan. Vision is to maintain its position as a leading bank and financial services company in Kazakhstan, while increasing profitability through managed growth and increased operating efficiency. The Bank’s strategy is to maintain its position as a leading bank and financial services company in Kazakhstan, while increasing profitability through managed growth and increased operating efficiency. In order to implement this strategy, the Bank intends to focus on the following: †¢ Expansion of Banking Services. The Bank will focus on expanding its services. In particular, â€Å"Kazkommertsbank† intends to develop its corporate client base and improve the quality of its loan portfolio. In order to diversify the portfolio, the Bank will seek to proportionately increase its lending to SME. †¢ Improvement of management information systems and operating efficiencies. The Bank has been working to improve operating efficiencies through organizational restructuring and investments in human resources and information technology. The Bank continues to introduce more advanced information systems in the future. †¢ Improvement of funding base. The Bank aims to increase its capital markets funding, including subordinated and senior debt issues, asset securitization programs, co-operating with multilateral financial institutions and foreign export credit agencies and by increasing its market share in term deposits from corporate and retail clients in particular. †¢ Expand into other financial services markets. To capitalize on expected opportunities at securities market, the Bank is taking steps to further its expertise and position itself through the operations of its subsidiaries such as JSC Kazkommerts Securities and JSC Kazkommerts Policy, rendering insurance services. Management of the Bank is responsible for the preparation of the condensed interim consolidated financial statements that represent fairly the financial position of the Bank results of operations, cash flows and changes in accordance with Financial Reporting Standards. In preparation the condensed interim consolidated financial statements management is responsible for selecting suitable accounting principles and applying them consistently. In addition, management should make judgments and estimates that are reasonable and prudent and check whether IFRS have been followed, as well prepare the condensed interim consolidated financial statements on a going concern basis, unless it is inappropriate to presume that the Bank will continue in business for the foreseeable future. Management is also responsible for: designing, implementing and maintaining an effective and sound system of internal controls, throughout the Bank. Besides this, it should maintain statutory accounting records in compliance with legislation and accounting standards of the Republic of Kazakhstan as well as take such steps that are available to them to safeguard the assets of the Bank; and detect and prevent fraud and other irregularities. Marketing issues Today the main marketing strategy of the Bank is enhancement of new customers. To reach this goal the following marketing strategy is developed by the Bank: †¢ Development of the advertising and promotion materials hat accurate in terms of legislation and services/products that bank provides †¢ Identify cost effective marketing channels that will cover the particular target market †¢ Make competitive analysis and define advantages and disadvantages of the Bank’s products †¢ Make analysis of the target market to understand customer’s preferences and expectations from banking products and services †¢ Build positive image of Bank as the Bank i nnovator and Bank that is close and accessible for customers (recently, Bank had an image of very expansive bank that provides banking products and services only for reach people) †¢ Develop customers loyalty to the Bank and customers satisfaction †¢ Increase Bank’s market share in retail banking particular market share of retail credits. Market dynamics The latest situation on the banking market has been quite tough; however, it has been improving now. Bank started to recover from the world financial crisis so banks give loans again and continue to attract funds from the population. So, nowadays banks begin to act aggressively and develop their marketing strategies to stay competitive and to acquire new customers. Today, clients are attracted not only by lucrative rates and terms but by offering complex services that include as â€Å"initial banking services† as modern demanded tools, such as Internet banking, Client-bank software and others. Competitive dynamics Kazkommertsbank is one of the leaders at Kazakhstani banking market and one of the main contributions to this was made by their well-elaborated marketing strategy. Kazkom offers almost unique products such as Internet banking and bonus scheme Go-card. These two tools are attractive to many customers and help to develop strong relationships with clients. Besides this, the bank has several advertising campaigns, including TV commercials and street banners, in order to attract new customers, i. e. extra funds. SWOT analysis â€Å"Kazkommertsbank† is one of the largest and prosperous banks on financial market of Kazakhstan. As every organization, the bank has its own strengths and weaknesses, faces various opportunities and threats. Summary of the SWOT analysis is given in appendix (Table ), and more detailed information is presented below. Strengths â€Å"Kazkommertsbank† is one of the largest banks in Kazakhstan that offers its services to more than 60 000 clients which is wide customer base. It allows the Bank to earn considerable amount of revenues from operating them. Another strong aspect of the Bank is its well-developed products, such as large deposit options with gainful rates, low mortgage terms, various types of credit and debit card and many others. As well as this, many clients find it very convenient to use Internet banking. Kazkommertsbank† was the first bank in Kazakhstan to offer such a service to its customers which was definitely a plus. Besides this, many customers appreciate the Go-card bonus system. It encourages people to pay for their purchases and receive either dis counts or bonuses that range from 3 to 30 percent. And the last but not least strong side of the Bank is a large number of ATMs around Almaty and other cities of Kazakhstan. â€Å"Kazkommertsbank† clients do not have to look for ATM because they can be found almost everywhere. Weaknesses Although â€Å"Kazkommertsbank† has a number of awards, â€Å"Best Bank of Kazakhstan† among them, still it has some weak points. External dept can be one of them, as the Bank owes a great amount of money to foreign financial institutions. It can cause some significant problems in the future. This weakness automatically brings up another issue that is low liquidity. The Bank does not have appropriate amount of current assets and may face troubles if many clients want to have their money back. Opportunities â€Å"Kazkommertsbank† currently operates in Kazakhstan, Russia, Kyrgyzstan and Tajikistan. The Bank can also expand to other regions, for instance it can go to other Central Asia countries like Uzbekistan and Turkmenistan, as well as to CIS counties such as Ukraine and Belarus. This will increase customer base and bring new money to the bank. In addition, the Bank can offer new services to its current clients, for example introduction of derivatives or exotic options, compound products. Threats Financial crises caused a lot of problems in banking sector not only in Kazakhstan, but around the world. So, currently the situation in the banking sector is very unstable. Consequently, many customers may become less sure about their bank and withdraw their deposits which will decrease the number of cash in the bank. In addition to this, foreign banks are unwilling to lend money to Kazakhstani bank which can cause problems with cash liquidity at â€Å"Kazkommertsbank†. Finance/Accounting issues As it was mentioned above, the Bank is organized on the basis of three main business segments: †¢ Retail banking – representing private banking services, private customer current accounts, savings, deposits, investment savings products, custody, credit and debit cards, consumer loans and mortgages. †¢ Corporate banking – representing current accounts, deposits, overdrafts, loan and other credit facilities, foreign currency products, guarantees and letters of credit and derivative products. †¢ Investment banking – representing financial instruments trading, structured financing, corporate leasing, and merger and acquisitions advice. Transactions between the business segments are conducted on normal commercial terms and conditions. Funds are ordinarily reallocated between segments, resulting in funding cost transfers disclosed in operating income. Interest charged for these funds is based on the Group’s cost of funds attracted. There are no other material items of income or expense between the business segments. Segment assets and liabilities comprise operating assets and liabilities, being the majority of the balances sheet, but excluding items such as taxation and borrowings. Internal charges and transfer pricing adjustments have been reflected in the performance of each segment. Revenue sharing agreements are used to allocate external customer revenues to a business segment on a reasonable basis. In order to protect tself from different types of risks connected with the main business of a bank there is a department that is concentrated on preventing bad scenarios, like the department where I had a chance to pass my internship, the department of â€Å"Monitoring and Analysis of Credit Portfolio and Ri sk-management†. Operations management and Information system issues To be a leader on the market, Bank needs to use highly innovative and operative information technologies and systems. One of them is system of electronic workflow, which allows optimizing paper work and many businesses processes in Bank. Optimization of the business processes leads to decrease in operation costs and to customer’s satisfaction with banking services. Automation of banking processes helps to appropriately and accurately define customer’s creditability and pay ability, so minimize credit risks that are assumed in credit processes. As well as this, many departments in the bank use highly efficient programs that allow them to stay in touch with National Bank and other regulatory institutions. Besides this, locally developed programs let them to make quick transactions through system of Internet banking. In addition to this, standard programs of Microsoft office are widely used across the bank in day to day activities. Summary Many economic zones in which the Bank work, are characterized by the raised risk since there is no sufficient knowledge of behavior of consumers, positions of competitors, about a correct choice of partners, there are no reliable sources of reception of commercial and other information. The current situation in banking is unclear due to the liquidity crises that expanded to Kazakhstan as well. Crises in Banking involved into economy of Kazakhstan, so inflation rates in increased, bringing with it increase in prices of retail products and decrease in consumption rates of Kazakhstan population. This factor lead to reduction in necessity of banking precuts especially retail credits. It is hard to make appropriate prognoses of future situation and stay a leader on a market. That’s why it is very important to have well-developed strategic plan, to define mission and vision of the company, to set concrete goals. There is a vital importance for every manager of the Bank, from low level to the top, to know the answer to the major strategic questions: Where is the company at present time? Where it is going to be? And how is it going to achieve this position? In their strategic plan, marketing plan and management issues, KKB answers all these questions, so they definitely know in what direction to move in short and long-run periods. How motivation influence employee performance at JSC â€Å"Kazkommertsbank†. Introduction In today’s highly competitive conditions among companies employee performance becomes a very important issue. The better employees work, the better results organizations show. According to the web-site www. managementstudyguide. com, motivation â€Å"improves the level of efficiency of employees†. An inspired worker will show outstanding performance that will boost his or her productivity. That will lead to decreased costs of operations and as the result total efficiency will go up. Employee performance is a function of ability multiplied by motivation (Whetten, 2007). Ability refers to employees’ knowledge and education, their expertise and past experience. So, human resource managers should choose the best people that fit open positions. However, it is vital not only to select the right people but also to choose appropriate motivation techniques to inspire employees. A motivated worker does his job better and likes it more than those who are not so motivated. In addition to increased performance and productivity, the satisfaction with the job itself will rise. Every good manager understands the significance of this subject, however not every executive knows how to implement theory into practice. Consequently, this may lead to some undesirable outcomes, for example, low sales, high turnover rates, increased number of mistakes and errors, conflicts among subordinates, lack of new ideas and creativity. Problems may arise if a manager does not know the nature of his or her subordinates. According to the web-site www. accel-team. com, appreciation of this fact is â€Å"a prerequisite to effective employee motivation in the workplace†. The objectives of this paper are to understand current motivation level at â€Å"Kazkommertsbank† and to propose other motivation techniques that could help increase employees’ satisfaction with work and boost their productivity. Methodology Data collection In order to write this report I used various sources to gather information about â€Å"Kazkommertsbank† and to conduct analysis. The facts and figures that tell about the history of the bank and its operations were taken from Internet sources such as www. kkb. kz, www. afn. kz and www. kase. kz. In addition to these data, I also made conclusion from my personal observations during my working time. While working on the report I held an interview with one of the employee of â€Å"Kazkommertsbank†. The respondent’s name is Kanat Khalilov whose position is a risk manager at Risk Management Department Modeling Division of JSC â€Å"Kazkommertsbank†. I have decided to choose this particular person because he has good education and broad experience in various financial institutions. He was asked several questions concerning motivation in the organization (the script of the interview is attached in appendix). This was the primary source of data based on which the proceeding research was conducted. Although, an interview is a good way of collecting information; it is used to get qualitative data. To obtain general view on what is happening in the bank, I prepared questionnaires based of the interview questions with sixteen questions out of which two questions were open. I distributed fifteen copies among the employees of Risk Management Department and the response rate was one hundred percent. Theoretical part Motivation can be defined as anything that affects behavior in pursuing a certain outcome. A great number of theories have been developed in order to help managers motivate their employees; unfortunately in our local organizations not many of them are used. However, the importance of motivation is huge for any organization. As it was mentioned by the site www. managementstudyguide. com, effective motivation can lead to the accomplishment of organizational goals and objectives. That means that finding the right way to motivate subordinates will result in better co-ordination and co-operation, which are the two components of assisting in attaining organizational goals. In addition to what was mentioned above, motivation can bring stability of workforce (www. managementstudyguide. com). It is clear that stable workforce is significant in terms of reputation and goodwill of a company. If employees feel that they take part in managing their organization, they stay devoted to their company. This will cause employees to show their best in performing and create a good public image in the market. And if the organization has good reputation, the number of clients will be increasing constantly and good specialists will strive to work there. The most popular motivation theory is the hierarchy of needs theory that was developed by Abraham Maslow in 1943. According to the web-site www. learning-theories. om, the basis of Maslows motivation theory is that human beings are motivated by unsatisfied needs, and that certain lower factors need to be satisfied before higher needs can be satisfied. According to Maslow, there are general types of needs (physiological, survival, safety, love, and esteem) that must be satisfied before a person can act unselfishly. Another famous theory is two-factor theory by Frederick Herzberg. According to his theory, people are influenced by two factors: motivation factors that bring satisfaction and psychological growth, and hygiene factors that cause dissatisfaction (http://en. wikipedia. org). In his opinion, hygiene factors are needed to ensure that employees do not become dissatisfied. These factors do not lead to higher levels of motivation, but without them there is dissatisfaction. Motivation factors are needed in order to motivate employees into higher performance. These factors result from internal generators in employees. As Herzberg stated, achievement, recognition, responsibility, advancement and growth can lead to satisfaction, while work conditions, salaries, supervision and company policies can cause dissatisfaction. Vroom’s expectancy theory is very popular as well. It states that people are motivated when they believe they can accomplish the task, they will get the reward, and the rewards for doing so are worth the effort (Whetten, 2007). The same statement can be rephrased that motivation force is a product of expectancy, instrumentality and valence (www. quickmba. com). This means that a person expects himself to accomplish some objectives (expectancy), and he believes that performance will result in getting the reward (instrumentality) and at the end what value a person places on the outcome or reward (valence). One more motivation theory is connected to the person personality and has to be applied to each person individually. That is acquired needs theory by McClelland developed in 1961 (www. strategies-for-managing-change. com). It states that every person has his own needs, need for power, affiliation or achievement. These needs can be identified with a help of special test. After getting the result a manager can understand how he or she can motivate a particular employee. For example, for those who fall in the achievers category managers should set them even harder goals and stretch their limits. The goal-setting theory by Locke is also a good way of motivating employees. Goals are the source of motivation because they indicate what has to be done and how much effort should be exerted. Attainment of goals satisfies the individual’s achievement drive, boosts the self-esteem. Thus, it can be said that specific goals increase the performance than general goals. â€Å"Lockes research showed that there was a relationship between how difficult and specific a goal was and peoples performance of a task† (www. mindtools. com). It means that the manager should set goals and objectives to his subordinates but these goals should be SMART, or specific, measurable, attainable, relevant, and have time-bound. However, not only the goals are important, executives should give their feedback when the task is finished in order for employees to know whether they are succeeding or whether they need to change direction. Reinforcement theory is known to be one of the most powerful motivation tools that can increase desired behavior and eliminate undesired behavior (http://faculty. mdc. edu). It means that there are two types of reinforcement: positive and negative. Positive reinforcement results when the occurrence of a valued behavioral consequence has the effect of strengthening the probability of the behavior being repeated. Negative reinforcement results when an undesirable behavioral consequence is withheld, with the effect of strengthening the probability of the behavior being repeated. Punishment attempts to decrease the probability of specific behaviors being exhibited. Punishment is the administration of an undesirable behavioral consequence in order to reduce the occurrence of the unwanted behavior. Findings and Analysis Personal observations During two months of internship I had a chance to understand how a real organization operates, to observe the chain of command and to get a view of who reports to whom, to identify the relationships between employees. As well as this I had a chance to see how some management concepts are used, motivation issues in particular

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