Weapons of Mass Destruction The Terrorist Threat

Presentation In 1945, the U.S. caused a broad demolition when it dropped two nuclear bombs on the Japanese urban communities of Hiroshima and Nagasaki, which additionally finished the Second World War. This episode made the entire world to grapple with the danger that weapons of mass devastation (WMD) posture to the world security.Advertising We will compose a custom exposition test on Weapons of Mass Destruction: The Terrorist Threat explicitly for you for just $16.05 $11/page Learn More Regrettably, as the significant nations have consented to stop the utilization of WMD, dread gatherings have put forth attempts to gain and use them for causing ruin in different spots far and wide. More awful still, mechanical progression of this century has expanded the chance of their development and sneaking for illegal use in wherever on the planet. This paper gives an evaluation on how a noteworthy psychological militant WMD assault can be directed. Elegant and Benedek note, â€Å"WMD are uti lized to execute enormous quantities of individuals, obliterate a lot of property, accomplish political objectives, and make fear, confusion, and social disruption† (2003, para. 2). They likewise state that the weapons incorporate â€Å"biological or concoction specialists, atomic weapons, regular bombs sullied with radioactive materials, huge customary or â€Å"truck† bombs, and astonishing sources, for example, seized airplanes† (Lacy and Benedek, para.2). Ongoing awful rates, for example, the Japanese tram assault utilizing Sarin nerve specialist, which brought about the passing of thirteen people and seriously harmed a few others, have raised the caution of the conceivable fear monger utilization of WMD. What's more, North Korea and different systems, for example, Iran have given dangers of conceivable utilization of various organic and concoction weapons for causing broad demolition. In this way, their utilization by fear monger associations is a reason for stress for some countries around the globe. Synthetic fear mongering Chemical weapons are produced using substance materials with poisonous properties and they are intended to harm or debilitate the foe, or render a specific spot unfit for gainful use. In contrast to ordinary weapons or atomic weapons, these risky weapons don't depend on dangerous power to understand their objectives; be that as it may, they depend on the novel attributes of the synthetic compounds in causing hurt (Croddy Wirtz, 2005). In this century, roughly seventy distinct synthetic compounds are accessible that can be utilized as substance psychological oppression specialists. During the First World War period, compound weapons that were utilized were as gases. In the cutting edge time, in any case, psychological militants can utilize fluids, solids, or gases having harmful impacts to cause mass setbacks. Psychological oppressors can either utilize tenacious or non - persevering substance weapons to cause decim ation. Non-steady specialists, for example, chlorine and sarin, remain for a restricted period before losing their adequacy after scattering; hence, this makes them to be useful for fear mongers who need to dominate and control an objective as quick as could be expected under the circumstances. Then again, diligent operators remain for a long time before losing effectiveness.Advertising Looking for paper on political theories? We should check whether we can support you! Get your first paper with 15% OFF Learn More Chemical fear based oppression can be affected by utilization of operators that are sorted out into five distinct gatherings dependent on how they cause mischief to the human body. The five classes are rankle (vesicant), blood (foundational), gagging, nerve, and psychotomimetric specialists. Rankle operators allude to the synthetic concoctions that cause outrageous skin, eye, and mucosal torment and aggravation bringing about enormous, throbbing rankles on parts of the bod y of those influenced. The most widely recognized sorts of rankle specialists are sulfur mustards and lewisite, and they are heavier than air subsequently remain in the air for an all-inclusive timeframe. Sulfur mustard is modest and simple to make, making it prone to be utilized by psychological oppressors. The specialists promptly enter the skin causing hazardous indications, for example, skin agony and aggravation, huge liquid rankles that are inclined to contamination, and mellow respiratory misery. Since the rankle operators are not as deadly similar to the nerve specialists, they are more averse to be utilized by the fear mongers. Blood specialists, which are cyanide or arsenic based, get into the blood through inward breath or ingestion and cause demise very quickly or seconds by restraining the change of oxygen into vitality. At surrounding conditions, the harmful substance operators are unpredictable dull gases, henceforth are increasingly damaging when fear mongers use the m in bound regions. They are regularly spread as vaporizers and soak the blood when breathed in. So as to be compelling, fear based oppressors can consider utilizing higher dosages of the blood specialists that can cause side effects of unsteadiness, shortcoming, and queasiness on those influenced. Perpetual cerebrum harm and muscle loss of motion may likewise happen. A third kind of substance operator is a gagging specialist, which influence the casualties breathing framework by prompting a development of liquids in the lungs. The liquid filled lungs render the influenced individual incapable to inhale and in the end choke. At the point when the concoction operators are presented to the eyes and skin, they erode the surfaces prompting twisted vision and serious profound consumes, and when they are breathed in, they influence different entanglements to the respiratory and the circulatory framework. Despite the fact that a few people can endure stifling specialist assaults, they wind up experiencing long lasting breathing issues. Presently, a portion of the gagging specialists that fear mongers may use to accomplish their destinations incorporate chlorine gas, chloropicrin, diphosgene, phosgene, and trichloronitromethane.Advertising We will compose a custom article test on Weapons of Mass Destruction: The Terrorist Threat explicitly for you for just $16.05 $11/page Learn More Among these synthetic weapon operators, current psychological militants are probably going to utilize phosgene since it is the most risky and since it is denser than air, it can stay noticeable all around for a lot of time. Chlorine is the most widely recognized and the level of harm it causes relies upon the degree of get in touch with one has with it. It is accepted that advanced fear based oppressors can attempt to recreate the monstrous utilization of these weapons, which happened during the First World War. For instance, on April 22, 1915, the German powers opened up 168 tons of chlor ine gas on their adversaries at the Second Battle of Ypres in Belgium, which brought about the passing of numerous ill-equipped warriors. The fourth kind of substance operators is the nerve specialists, which assault the victim’s sensory system by confining the development of the nerve driving forces in the body. Subsequently, the influenced people can't control their muscles, upchuck and lose the capacity to control their bladder, lungs quit working and they lose their capacity to relax. In the end, the casualties bite the dust by suffocation as control of the respiratory muscles is lost because of the impacts of the specialist. Some of the lethal nerve specialists are handily disintegrated or aerosolized. They for the most part enter the victim’s body through the respiratory framework and they can likewise be consumed through the skin. Since they are considered as probably the most impressive and deadly of every concoction weapon, they have the capability of causing mass setbacks when utilized by psychological militant associations. Nerve operators fall into two classes: G-arrangement, for example, tabun and sarin, and V-arrangement, for example, VE, VG, and VM. The fifth kind of synthetic weapons is the psychotomimetic operators, which influences a person’s mind. They make the casualty to create intricacies in their sensory system and diminishes their capacity to settle on choices or move. The individual gets perplexed and can have dreams. The sorts of this operator that fear based oppressors can utilize incorporate 3-quinuclidinylbenzilate, Phencyclidine, and LSD In request to accomplish the expected objective of utilization of concoction weapons, psychological militants must guarantee that they are successfully conveyed or spread to the objectives since their viability is exceptionally subject to the predominant barometrical conditions the same number of them are in vaporous structure. Wrong climate perceptions and anticipating dimini shes their powerful conveyance. The most plausible types of assault that psychological militants may utilize are scattering, warm spread, and streamlined dispersal. Scattering procedures, for example, the utilization of weapons, bombs, and shower tanks, are the simplest type of assault since they include putting the specialist on or close to an objective preceding spread, with the expectation of proficiently utilizing the material. Fear based oppressors can utilize this strategy by opening a compartment loaded with noxious substances in a spot brimming with individuals, for instance, in a city transport stop.Advertising Searching for article on political theories? How about we check whether we can support you! Get your first paper with 15% OFF Find out More Warm spread is a dispersal strategy of synthetic weapons by the utilization of explosives or fireworks and it offers the benefit of scattering the specialist over an extensive separation. This may make it desirable over the psychological oppressors over the scattering procedure. In spreading the synthetic operators, psychological militants may utilize bombs or shot shells, which remove the specialist extraneously when explosion happens. Regardless of the impediments of the utilization of warm scattering gadgets, psychological militants can effectively utilize them in the beginning phases of substance weapon improvement. Another conveyance technique is streamlined dispersal strategy in which a compound weapon is discharged from a plane with no blast. Streamlined pressure at that point spreads the operator to the focused on zone. Today, fear mongers can decide on this strategy over the warm dispersal procedure since it wipes out a portion of its impediments. Also, the advances in innov ation have permitted perfect conditions to be foreordained before disseminat

Brazils Communication Essay Example for Free

Brazil’s Communication Essay Each nation has one of a kind, unmistakable manners by which they interrelate and speak with one another inside their nation. A country’s methods for correspondence can be verbalized through verbal, non-verbal, and relational correspondence channels. In the nation of Brazil a great many people are not Hispanic but rather Latino, albeit numerous settler networks are from Europe, Africa, and Japan. The official language spoken in Brazil is Portuguese; in any case, Spanish, English, and French are different dialects that are additionally spoken in Brazil. When welcoming they expect a confident handshake with solid eye to eye connection. While working together in Brazil don’t be shocked in the event that they stand exceptionally near you when talking. Moving endlessly might be deciphered as dismissal. Brazil additionally utilizes numerous types of non verbal correspondence. A lot of this non-verbal communication is contained socially inferred practices. When addressing each other, it isn't ordinary to alternate talking. Individuals will intrude on a discussion and will frequently talk simultaneously as their friends. Another verbal correspondence design that Brazil rehearses is utilizing first names while tending to an individual. Additionally, one’s manner of speaking is frequently piercing while bantering with each other. Albeit day by day discussion is directed in a stronger voice, it isn't intended to communicate outrage or antagonistic vibe toward anyone. What's more, verbal correspondence in Brazil is seen as being showy and excessively enlivened by different nations who are increasingly held. In Brazil, physical appearance and environmental factors are significant and give viewable signals as to one’s status and tone of discussions. In numerous Latin nations, correspondence will in general be predominately oral instead of through composed word. In any case, from the business perspective, when sending something in composed organization it is typically a smart thought to catch up with a call or a visit face to face. In the course of the most recent two decades, the telecom business world over has developed and advanced at a mind blowing pace and has essentially changed the manner in which individuals communicate. Brazil Telecom offers significant distance media communications administrations hrough somewhere in the range of 8,034 million lines and 281,800 open phones to clients in Brazil. Oi Telecom, some time ago known as Telemar is the biggest broadcast communications organization in Brazil, it was set up in 2008 and has become the greatest organization in Brazil on the Telecommunications segment. This organization is available in 4600 urban communities in Brazil and it has impacted the value drop in the nationa l degree of similar administrations offered by contenders because of solidarity of its activities in the nation. Brazil’s Communication. (2017, Jan 04).

Mathew Brady (the 19th century photographer) and his influence on Term Paper

Mathew Brady (the nineteenth century picture taker) and his effect on verifiable media - Term Paper Example He is additionally viewed as one of America’s most noteworthy picture takers in his time, during the nineteenth century. Later on, he became and is as of now known to be the dad of photojournalism. Conceived on the eighteenth day of May in the year 1822 in Warren County in the territory of New York to an Irish outsider family, Matthew Brady grew up, later left his Irish worker guardians and moved to the city of New York when he was just sixteen years old. At the point when he showed up in that city, he initially took the calling of being an assistant in a retail establishment. Not long after working in this activity, he made and made his own one of a kind business industry really taking shape, fabricating and making cases for gems and different knickknacks and charms. As a side interest and relaxation interest, Brady had an incredible intrigue and wanted to take photos. He chose to examine photography before long. One of the educators that he had was William Page. In the year 1839, Page had acquainted Brady with Samuel F. B. Morse, who had been one of Page’s teachers and coaches in the craft of pictures and was one of the first to ever acquaint photography with the United States of America. Around then, Morse just returned from the landmass of Europe, who has quite recently started to begin the use of photography, which was as yet another procedure during that time. During his classes as an understudy of photography, his unimaginable and excellent ability and expertise in photography was watched and taken note. He had the option to rapidly acknowledge and get some answers concerning his characteristic capacity and blessing in taking daguerreotypes and photos, for the most part representations of eminent Americans. Through Samuel Morse and William Page, he had the option to turn out to be increasingly intrigued and captivated with the new specialty of photography. On account of his developing premium and love for photography and pictures, he later chose to set aside up his own cash to have enough capital so as to make and own his own one of a kind photography studio so he could follow his aspiration

Zidovudine for the Prevention of HIV Transmission

Zidovudine for the Prevention of HIV Transmission Presentation Zidovudine is an antiretroviral tranquilize which is a nucleoside turn around transcriptase inhibitor; it is utilized as treatment with other antiretroviral drugs against the Human Immunodeficiency Virus. Furthermore, zidovudine can be used as a methods for lessening the danger of move of HIV from a pregnant lady to her kid. Besides, zidovudine is utilized in post presentation prophylaxis so as to bring down the opportunity of being contaminated with HIV in individuals who have been presented to the infection. (AHFS Drug Information, n.d.). Name Of Drug, Structure, Formula and Functional Groups Zidovudine is otherwise called azidothymidine and, to put it plainly, AZT (Joint Formulary Committee, 2010). The sub-atomic recipe of the compound is C10H13N5O4 (The Merck Index, n.d.) and zidovudine has a sub-atomic load of 267.25, as determined utilizing the ISIS ChemDraw bundle (Cambridge Soft, n.d.). Dissecting the compound shows that zidovudine is comprised of a thymine bunch clung to a 2,3-dideoxyribose bunch with a connected azide gathering. Accordingly the efficient name of zidovudine is 3†²-azido-2, 3†²-dideoxythymidine (The Merck Index, n.d.), as the oxygen of the hydroxyl bunch on the 3 carbon of the ribose ring has been evacuated, giving 3-deoxyribose, and has been supplanted with an azide gathering and the oxygen on the 2 carbon has additionally been expelled. The azide bunch on the ribose ring is the motivation behind why zidovudine goes about as a nucleoside switch transcriptase inhibitor (AHFS Drug Information, n.d.). With the end goal for zidovudine to complete its job, it must be phosphorylated by a compound called thymidine kinase; this is because of the way that opposite transcriptase incorporates the triphosphates created into the HIV DNA chain being shaped during HIV replication. Thusly, after the triphosphate has been incorporated, 5, 3-phosphodiester holding in the DNA chain is beyond the realm of imagination, in view of azide bunch in the triphosphate, and in this way DNA arrangement can't proceed (Foye et al, 2008). Plans and Packaging The conventional type of zidovudine is accessible as hard cases (Electronic Medicines Compendium, n.d.) in two qualities of 100mg and 250mg (Joint Formulary Committee, 2010). The two qualities are bundled in foil rankle packs and plastic containers and should be kept in these; they have an expiry date of 2 years from the date of production (Electronic Medicines Compendium, n.d.). Zidovudine is additionally accessible under the brand name of Retrovirâ ® as cases, oral arrangement and infusion arrangement (Joint Formulary Committee, 2010). The entirety of the Retrovirâ ® definitions should be kept underneath 30 degrees and in their unique external boxes (Electronic Medicines Compendium, n.d.). The containers are hard cases (Electronic Medicines Compendium, n.d.) in qualities of 100mg and 250mg (Joint Formulary Committee, 2010); they have an expiry date of five years from the date of assembling and are bundled in a rankle pack or a jug (Electronic Medicines Compendium, n.d.). The oral arrangement comprises of a 50mg in 5ml portion (Joint Formulary Committee, 2010) and is bundled in a golden container made of glass. The oral arrangement has an expiry date of two years from the date of assembling however ought to be discarded after the jug has been opened for one month (Electronic Medicines Compendium, n.d.). The infusion arrangement is accessible in the portion of 10mg per 1ml and is utilized for intravenous imbuement (Joint Formulary Committee, 2010). It is bundled in a glass vial which is golden or clear in shading. The arrangement has an expiry date of three years after the date of production in any case, when opened, it must be utilized immediately and any residual arrangement discarded (Electronic Medicines Compendium, n.d.). As indicated by Martindale: The Complete Drug Reference (n.d.), all the details of zidovudine should be protected from wellsprings of light and should be kept in water/air proof compartments. Stereochemistry and Conformation As featured in the chart drawn utilizing ISIS ChemDraw (Cambridge Soft, n.d.), zidovudine has an aggregate of three chiral focuses and subsequently zidovudine has eight potential stereoisomers. The 1 carbon of the ribose ring is of the R design though the 3 and 4 carbons are of the S arrangement (Novak et al, 2003). Zidovudine has a particular optical revolution estimation of +99â ° in water (Merck, n.d.) and subsequently turns the plane of spellbound light clockwise; thusly zidovudine is optically dynamic (Freeman, 2010). Amalgamation Zidovudine was made by Jerome Horwitz in 1964 (Weeks et al, 2010). It tends to be framed from thymidine, be that as it may, this is an expensive strategy and consequently a more financially savvy method is utilized to make zidovudine for a huge scope by utilizing D-Mannitol as the beginning compound (Saunders, 2000). The procedure has been drawn beneath utilizing ISIS ChemDraw (Cambridge Soft, n.d.) regarding Top Drugs (2000). In the primary stage, a subordinate of D-glyceraldehyde is shaped from D-mannitol utilizing CH3)2CO and a wellspring of protons and refluxing. Lead (IV) acetic acid derivation is then included. In the second stage a Wittig response is done and PH3P=CHCO2Et and methanol are included. In the third step hydrochloric corrosive is included, creating a lactone. In the fourth stage the lactone is ensured and the azide bunch is included through a Michael expansion response. The reagents used to ensure the lactone are t-Bu(Me)2SiCl, imidazole and dimethylformamide. The reagents for the Michael expansion response are lithium azide, tetrahydrofuran, acidic corrosive and water. In the fifth stage the lactone is diminished to a lactol at short 78 degrees utilizing Diisobutylaluminium hydride and dichloromethane. The hydroxyl bunch is enacted to shape a sugar middle of the road utilizing acidic anhydride and pyridine. In the 6th step, Vorbruggen conditions are received and a buildup response is pe rformed with the sugar halfway and silylated thymine which produces alpha and beta anomers. The reagents are di-trimethylsilyl-thymine, trimethylsilyl trifluoromethanesulfonate and EDC. In the seventh step, the silyl ensuring bunch is taken off and the anomers are uncombined to get zidovudine. The reagents utilized in this progression are n-Bu4N+F-and tetrahydrofuran (Saunders, 2000). Medication soundness: Potential destinations of substance shakiness and digestion Zidovudine disintegrates extraordinarily within the sight of light as a result of the azide gathering and the item shaped from the breakdown is thymine. This is on the grounds that two nitrogen molecules are expelled from the azide gathering, shaping nitrene. An inclusion response happens and aziridine is made. Water, as a nucleophile, assaults aziridine. The amide anion shaped causes the thymine gathering to be nucleophilically dislodged and consequently thymine is delivered as the debasement item (Dunge et al, 2004). Consequently as zidovudine is for the most part influenced by light it is informed that the different plans with respect to zidovudine are avoided light sources (British Pharmacopeia, 2010). Zidovudine has a bioavailability of 63%. This is because of the way that zidovudine experiences glucuronidation, giving zidovudine glucuronide which is more water solvent than zidovudine because of a sugar bunch being included, and is renally discharged (Burton et al, 2006). UDP-glucuronyl transferease is the catalyst which catalyzes the response (Veal et al, 1995). Zidovudine can likewise be changed over to 3-amino-3-deoxythymidine because of the azide bunch being diminished (Veal et al, 1995); 3-amino-3-deoxythymidine can influence the activity of zidovudine against HIV and is perhaps harmful (Burton et al, 2006). Lipinskis Rules For Orally Active Drugs As per Clarkes Analysis Of Drugs And Poisons (n.d.) the Log P estimation of Zidovudine is 0.05 and the atomic weight is 267.25 as determined on ISIS ChemDraw (Cambridge Soft, n.d.). Zidovudine has a sum of two hydrogen bond contributor locales and an aggregate of nine hydrogen bond acceptor destinations (Lipinski et al, 1997). Thus, zidovudine adheres to Lipinskis Rules of Five as it has an atomic load of under 500, a Log P estimation of under 5, there are under five hydrogen bond benefactor destinations and there are under ten hydrogen bond acceptor locales (Lipinski et al, 1997). As the Log P estimation of zidovudine is 0.05 (Clarkes Analysis Of Drugs And Poisons, n.d.) it very well may be seen that the medication is marginally polar. Zidovudine contains sweet-smelling and huge aliphatic locales which are hydrophobic; the polar character emerges from the hydroxyl gathering, an amide area, an ether connection and azide gathering, which are on the whole hydrophilic areas. In this manner as there is a slight irregularity of increasingly hydrophilic gatherings to hydrophobic gatherings, zidovudine is somewhat hydrophilic and marginally polar and hence is water dissolvable and has less partiality to cross the lipid layers (Bichenkova, 2010). pKa and Ionization State At pH 2, 7.4 and 10 and Solubility As indicated by the International Agency for Research on Cancer (n.d.), the pKa estimation of Zidovudine is 9.68 and consequently it is pitifully acidic. Utilizing the condition for the level of ionization, which has been gotten from the Henderson-Hasselbalch condition, I am ready to ascertain the rate measure of ionization of zidovudine at different pH esteems. The condition utilized comprises of: % ionization of a corrosive = 100/1 + antilog(pKa pH) (Freeman, 2010). At pH2, the condition will peruse % ionization = 100/1 + antilog (9.68 2). This gives the worth 2.0910^-6 %. Thus it very well may be seen that in the stomach just an exceptionally modest quantity of zidovudine will be ionized and for the most part it will be to a great extent unionized. The level of zidovudine unionized at pH2 is 99.99% and thus as zidovudine is exceptionally unionized at pH 2, it will be consumed from the stomach. At pH2 2.0910^-6% of zidovudine is ionized as the azide gathering can be protonated (Chemicalize, n.d.). At pH 7.4 the estimation gives an estimation of 0.52%. Subsequently in the circulation system zidovudine will be to a great extent unionized as the level of zidovudine that is unionized in the circulatory system is 9

Quality Management in the Public Administration through CAF

Quality Management in the Public Administration through CAF ESF 4.159 †Developing Quality Management in the Public Administration through CAF (SLIDE 3) The Commissions fundamental Thematic Objectives are set out in Article 9 of the Common Strategic Framework. Every normal vital structure adds to the Union procedure for savvy, economical and comprehensive development. Such targets might be made an interpretation of into explicit needs to every normal vital system finance. The European Commission accepts that the separate part states ought to consistently improve the earth for their organizations, residents and partners by methods for the modernization of open organization. The picked venture falls inside the eleventh Thematic Objective that looks for the improving of institutional limit and proficient open organization through more grounded institutional limit and increasingly effective open organization bolstered the European Social Fund (ESF). (SLIDE 4) Altogether the measure of ESF reserves assigned to this undertaking add up to an aggregate of 300 and thirteen thousand, 300 and seventy euros. The focal target is that of reinforcing proficiency and viability of the open organization through deep rooted learning and inventive exercises. These are the principle subsidizing data including the aggregate sum of allotted assets and the zones of mediation. (SLIDE 5) Through such venture financial improvement is one of the fundamental drivers. This will be accomplished from better business condition and other cultural and financial effects of the subject partners. The EU Commission will explicitly survey: The requirements of partners so as to improve the conveyance through quality administration frameworks, and; That there is additionally a lot of activities, alluding to the foundation and utilization of effectively set quality administration frameworks in a maintainable manner. (SLIDE 6) Prior to the execution of this task, the circumstance inside the Maltese Public Administration was portrayed by restricted utilization of value the executives frameworks. In any case, components, for example, the CAF, client care and change, online entrances, administration sanctions, mandates and rules, eGovernment, one stop shop, Local Councils (as an elective conveyance channel), associations with NGOs and limit fabricating just existed to a restricted degree. This undertaking tries to build up the abilities and capabilities of open officials in the utilization of the CAF and focal skills inside the Management Efficiency Unit (MEU). This would be accomplished through preparing and systems administration of CAF clients and specialists. This likewise prompts responsibility that improves the open help conveyance through weight decrease of guideline and regulatory methodology, quality affirmation and control. Administration conveyance would progressively get proficient, reasonable, straightforward and result situated. Administration clients would likewise have the option to browse channels of conveyance which ought to be as close as conceivable to them. For such accomplishments the MEU would turn into a focal point of greatness as respects the CAF. It is ready to fortify the open area in CAF execution and the administration of accreditation so as to guarantee long haul maintainability. To acquire such targets, appropriation of better works on, expanding of organization collaborations, influence innovation and the seeking after of corporate social obligation are fundamental apparatuses. (SLIDE 7) The CAF model is predominantly founded on 3 columns that are; Structure, Process, Outcome. Structure (or Leadership) holds that; CAF depends on 2 key components that are: Enablers and Results and that; Each empowering agent and result is additionally separated into key sub-rules Procedure holds that; CAF is established on a team’s perspective on the situation of an association at a specific point in time and that; CAF supports a constant improvement attitude inside an association Result holds that; Advantages for the organization’s partners, picture and notoriety (SLIDE 8) Appraisal of the accomplishment of wanted accomplished objectives is done through the PDCA cycle. Essentially this cycle watches the; Commencement of the task, for example, the: Arranging and association of the procedure and Correspondence inside the association Doing of self-appraisal, for example, the: Setting up of the self evaluation group Preparing and information gathering and Self evaluation Arranging and execution of upgrades incorporates: Prioritization and arranging Correspondence of the improvement plan promotion Occasional audit of the undertaking (SLIDE 9 and 10) Scoring of sub-models depends on the PDCA cycle which normally takes between 6 to 10 weeks relying upon the unpredictability and size of the issue in question. The 6 fundamental models for satisfaction under restriction 11 will accomplish results into 3 primary territories, which are of a Societal, Citizen and Workforce nature. All accomplishments lead to assist financial proficiency inside the subject association. Cultural, Citizen/Consumer, and People/Workforce advantages will be accomplished: Cultural enhancements include: Improvement in personal satisfaction Adjustment to patterns Proactive all encompassing methodology Partner commitment Straightforwardness Resident enhancements include: Quicker conveyance Improved assistance level Cost-proficient activities Picture and notoriety Workforce upgrades include: Propelled workforce Job lucidity and inclusion Improved duty to mission Better asset use Decreased aptitude holes (SLIDE 11) 4 key destinations structure the center of this task: CAF as Quality Management System (QMS): that Promotes and actualizes the CAF as the Maltese Public Administration’s first decision of value the board framework It is foreseen that key activity to accomplish this vital goal incorporate however are not really restricted to: further turn out of CAF inside Government; giving execution backing, enablement and ability to Department and Government Entities actualizing CAF; when a minimum amount of Departments and Government Entities have embraced CAF, a quality honor is acquainted with perceive accomplishment; honing the emphasis on results and result direction; and presenting CAF in instruction and equity divisions. Organizations: that Strengthen association advancement and the executives between the Maltese Public Administration and its partners It is foreseen that vital activities to achieve this key target incorporate yet are not really constrained to: giving direction and building limit in organization advancement and the board; growing further vital associations in different areas; stretching out conference to support configuration; continuing and enhancing corporate social duty; reinforcing a proactive data strategy; and building up a corporate personality unit for the Public Administration. There are altogether zones where residents, administration clients, and partners can act together in co-plan, co-dynamic, co-creation and co-assessment. Administrations/Processes: Improves the way benefits and related business forms work and enhance inside the Public organization It is foreseen that vital activity to accomplish this vital target incorporate yet are not really constrained to: improving and advancing administrations and diverts being used inside the Public Administration; creating ability to actualize business the board; further supporting business forms with ICT; better records the executives; expanding resident/client proposal and objections framework; and presenting methodical resident/consumer loyalty estimation. Individuals: Develops the abilities of the Public Administration workforce in client assistance, organization improvement and quality administration frameworks It is foreseen that vital activity to accomplish this key target incorporate yet are not really restricted to: honing the emphasis on execution the board to guarantee openness, straightforwardness, nature of administration conveyance, association; preparing and improvement of Public representatives in the required toolbox; and presenting atmosphere and culture recognition reviews with staff. (SLIDE 12) Current condition of-play: The appropriation of a quality administration system would expand on these endeavors and progresses in the direction of a progressively predictable way to deal with nonstop improvement. CAF is a center device to accomplish maintainable greatness in all presentation perspectives. Activities depend on the reason that magnificent outcomes as for execution, clients, individuals and society are accomplished through administration driving arrangement and system, that is conveyed through individuals associations, assets, procedures and change the executives. Not at all like different other quality administration models CAF is explicitly focused for open organization and is fit for catching remarkable highlights of government associations, holds a high level of adaptability and might be utilized n a wide assortment of conditions. Hence, CAF assumes a colossal job in Malta’s National Reform Program under the Europe 2020 technique. By the appropriation and advancement of CAF, the MEU would be expanding its degree of self-appraisal. MEU likewise plans to turn into the Maltese focus of mastery through the reinforcing of its in-house limit. (SLIDE 13) Three kinds of preparing that have been conveyed by the European Institute of Public Administration in Mata include: A Specialized Training Program in CAF conveyed by CAF specialists to 14 individuals (out of a sum of around 20) of MEU staff; A CAF Model Training Program conveyed by CAF specialists to 6 gatherings of open authorities; and Preparing on the Procedure on External Feedback and the CAF Label Training Program conveyed to individuals from MEU staff and open authorities in the open segment. 154 government employees were prepared in the TQM approach for the open segment to acquire information on significant ideas of value d

How to Spot a Money Pit

How to Spot a Money Pit How to Spot a Money Pit How to Spot a Money PitBuying a house is expensive enough without having to sink thousands and thousands of dollars into additional repairs. When trying to avoid a money pit, start at the bottom and work your way up!Money is pretty goodâ€"or at least its good when you have it. Needing it but not having it is pretty not great. Pits, on the other hand, are more situational, but they tend to be pretty bad. And what could be worse than a pit that  swallows  all of your money?!Yes, thats right, a money pit is undeniably bad. It describes a house that you purchase, only to later realize that it will need a lot of money in repairs to actually make it liveable.Of course, realtors and sellers aren’t likely to be too forward about all the problems the house they’re trying to sell is suffering from. That’s why you need to train yourself to spot a money pit before you put your money down. That training starts now. A strong foundation.Much like Drake, you’ll want to start from the bottom. “There are a few things worth checking out before deciding to buy a property,” advised Bryan Stoddard, director of  Homewares Insider (@homewaresinside). “From bottom to top, the foundations, the flooring, the walls and windows, and the roofing.When it comes to foundations, look for a steel-reinforced concrete foundation, the best thing is to consult a professional. When looking at the floors of the property, notice any bumps or uneven surfaces as they could be a sign of a bad structural setting.”And he wasn’t the only one to emphasize the importance of the foundation.“There are a host of potential profit killers when dealing with a fixer-upper,” warned Jeannie of Real Ventures Inc. “The biggest and most obvious to house flippers like us is the foundation. Imagine buying a used car that needs a new engine the second week you own it. OUCH! And its a huge expense that doesnt add value, it makes it functional. Thats what unplanned foundation work is like.She included th e following signs that a buildings foundation is no good:Vertical cracks in drywall above windows and doorsLateral cracks in the foundation itselfSagging floors in one area of the house.Settling pretty much always occurs with a house (its not always a major issue though).Cracks in drywall .. if they are large or grow over time, youve got a big issue.Lateral cracks in the foundation indicate serious issues that must be addressed immediately, she added, because the soil is likely eroding from one area and the weight of the house is pressing into the void.”Moving on up.Even if the foundation is looking great, there’s still an entire house on top of it that can be filled with problems.“When assessing a ‘fixer-upper’ you really need to break down what projects the home needs into three categories,” explained John Bodrozic, co-founder of  HomeZada (@HomeZada). “The first category is the house’s major systems like the roof, exterior walls, HVAC systems, windows, etc.  Thes e tend to be very costly to replace.“The second category is major lifestyle renovations such as kitchen and bathroom remodels.  Maybe everything is out of date and you want to replace it. Another concept here is whether you are planning on changing the layout of the interior walls. These are discretionary projects but also ones that can be quite expensive depending on the details on the home and what you want to do with it.“The third category is smaller finish projects. Projects like replacing the flooring with new tile, wood, or carpets or painting rooms and new light fixtures are relatively smaller projects and thus each one is less costly.”Here’s Stoddard’s take on the rest of the house:“Check the conditions of doors and windows. Do they look maintained, and do you feel a draft coming from them? Try to open and close all the doors and windows, so that youre sure theyre functioning properly.As for roofing, check out if the previous owners have maintained the roof, and also try to look for moisture inside the property. Look for cracks and damage on the building as theyre a sure sign of neglect.“Also, if the property is older, make sure the pipes are not made out of steel since they have an inherent problem with draining water away. Concerning electricity, look for any exposed wirings as a warning sign not everything is ok.Also, flickering lights can be a sign of faulty wiring in the building. Consult an electrician to check it out.”Come prepared.Not every issue will be apparent just from inspecting the house. That’s why it’s important to do your research and due diligence before even considering a purchase.“Another tip is to do some planning upfront if you are considering a fixer-upper,” recommended Bodrozic. “This involves listing out all the projects you want, and determine a realistic budget by doing some research on products, brands and price points.In addition, plan out the timing of the projects because you probably can’t af ford them all at once, so you can prioritize which ones come first, and which ones you can still live in the house with for a few years before you can tackle them.”But that’s not all!“Another big issue is permitting,” Jeannie told us. “Has the house youre considering had an addition to increase the living space and was it permitted?If an addition was done without permits and youre doing work such as electrical rewiring or replumbing the house and in inspector comes out, they may find that the addition wasnt permitted. You might have to completely demo that illegal addition.Research before purchasing can be done online sometimes but not in all cases. Phone calls to the county or city permitting office may be enough but an in-person visit might be necessary.”Know who you’re working with.In addition to the details of the house, the details of who you’re working with can be as or even more important.“The most critical and sometimes not realized pitfall until its too la te, is having a reliable and good contractor,” urged Jeannie. “A bad contractor can literally destroy your budget and your dreams of the finished product.Imagine having to not only fix whats wrong but redoing the things youve already paid for. Weve gone through this in our business and it DOUBLED the budget.”And of course, as we mentioned earlier, it’s vital that the sellers you work with are trustworthy.“As for the final advice, if the seller is uncooperative and unwilling to help you make these checks, hes hiding something,” warned Stoddard. “So better make sure youre out of there before you buy and later regret it.”Take care of your money.On this blog, we frequently write about how people can improve their financial outlook by avoiding short-term no credit check loans like payday loans, cash advances, and title loans. But getting stuck in a money pit could  easily be far more costly than any of those predatory bad credit loans could ever hope to be!Buying a home w ill always be expensive and come with its own set of risks. But the more careful you are and the more research you do, the better your odds will be of avoiding a money pitâ€"and the better your financial outlook will be moving forward.To read more about saving money on home maintenance, check out these other posts and articles from OppLoans:6 Ways to Keep Your Home Warm for LessHow You Can DIY Your Way to Cheaper Home Maintenance9 Tips for Keeping Your Security Deposit12 Tips for Getting Rid of (and Selling) Your Extra ClutterDo you have a question about saving money? Let us know! You can find us  on  Facebook  and  Twitter.  |  InstagramContributorsJohn Bodrozic  is a co-founder of  HomeZada (@HomeZada), an online and mobile home management solution. HomeZada strives to educate and provide resources for homeowners in all areas of home management, including home inventory, home maintenance, home finances,  and home improvement projects.Jeannie is a married, stay at home mom in Atlan ta and is currently pregnant with her second child. She’s also a real estate investor. In her free time, she loves to travel, read, go for walks in nature and go to the movies.Bryan Stoddard runs a website called  Homewares Insider (@homewaresinside) that explores all things related to homes, interior design, furniture, and gardening. Im also a passionate home designer that loves to tinker with DIY and design schemes.

How to Spot a Money Pit

How to Spot a Money Pit How to Spot a Money Pit How to Spot a Money PitBuying a house is expensive enough without having to sink thousands and thousands of dollars into additional repairs. When trying to avoid a money pit, start at the bottom and work your way up!Money is pretty goodâ€"or at least its good when you have it. Needing it but not having it is pretty not great. Pits, on the other hand, are more situational, but they tend to be pretty bad. And what could be worse than a pit that  swallows  all of your money?!Yes, thats right, a money pit is undeniably bad. It describes a house that you purchase, only to later realize that it will need a lot of money in repairs to actually make it liveable.Of course, realtors and sellers aren’t likely to be too forward about all the problems the house they’re trying to sell is suffering from. That’s why you need to train yourself to spot a money pit before you put your money down. That training starts now. A strong foundation.Much like Drake, you’ll want to start from the bottom. “There are a few things worth checking out before deciding to buy a property,” advised Bryan Stoddard, director of  Homewares Insider (@homewaresinside). “From bottom to top, the foundations, the flooring, the walls and windows, and the roofing.When it comes to foundations, look for a steel-reinforced concrete foundation, the best thing is to consult a professional. When looking at the floors of the property, notice any bumps or uneven surfaces as they could be a sign of a bad structural setting.”And he wasn’t the only one to emphasize the importance of the foundation.“There are a host of potential profit killers when dealing with a fixer-upper,” warned Jeannie of Real Ventures Inc. “The biggest and most obvious to house flippers like us is the foundation. Imagine buying a used car that needs a new engine the second week you own it. OUCH! And its a huge expense that doesnt add value, it makes it functional. Thats what unplanned foundation work is like.She included th e following signs that a buildings foundation is no good:Vertical cracks in drywall above windows and doorsLateral cracks in the foundation itselfSagging floors in one area of the house.Settling pretty much always occurs with a house (its not always a major issue though).Cracks in drywall .. if they are large or grow over time, youve got a big issue.Lateral cracks in the foundation indicate serious issues that must be addressed immediately, she added, because the soil is likely eroding from one area and the weight of the house is pressing into the void.”Moving on up.Even if the foundation is looking great, there’s still an entire house on top of it that can be filled with problems.“When assessing a ‘fixer-upper’ you really need to break down what projects the home needs into three categories,” explained John Bodrozic, co-founder of  HomeZada (@HomeZada). “The first category is the house’s major systems like the roof, exterior walls, HVAC systems, windows, etc.  Thes e tend to be very costly to replace.“The second category is major lifestyle renovations such as kitchen and bathroom remodels.  Maybe everything is out of date and you want to replace it. Another concept here is whether you are planning on changing the layout of the interior walls. These are discretionary projects but also ones that can be quite expensive depending on the details on the home and what you want to do with it.“The third category is smaller finish projects. Projects like replacing the flooring with new tile, wood, or carpets or painting rooms and new light fixtures are relatively smaller projects and thus each one is less costly.”Here’s Stoddard’s take on the rest of the house:“Check the conditions of doors and windows. Do they look maintained, and do you feel a draft coming from them? Try to open and close all the doors and windows, so that youre sure theyre functioning properly.As for roofing, check out if the previous owners have maintained the roof, and also try to look for moisture inside the property. Look for cracks and damage on the building as theyre a sure sign of neglect.“Also, if the property is older, make sure the pipes are not made out of steel since they have an inherent problem with draining water away. Concerning electricity, look for any exposed wirings as a warning sign not everything is ok.Also, flickering lights can be a sign of faulty wiring in the building. Consult an electrician to check it out.”Come prepared.Not every issue will be apparent just from inspecting the house. That’s why it’s important to do your research and due diligence before even considering a purchase.“Another tip is to do some planning upfront if you are considering a fixer-upper,” recommended Bodrozic. “This involves listing out all the projects you want, and determine a realistic budget by doing some research on products, brands and price points.In addition, plan out the timing of the projects because you probably can’t af ford them all at once, so you can prioritize which ones come first, and which ones you can still live in the house with for a few years before you can tackle them.”But that’s not all!“Another big issue is permitting,” Jeannie told us. “Has the house youre considering had an addition to increase the living space and was it permitted?If an addition was done without permits and youre doing work such as electrical rewiring or replumbing the house and in inspector comes out, they may find that the addition wasnt permitted. You might have to completely demo that illegal addition.Research before purchasing can be done online sometimes but not in all cases. Phone calls to the county or city permitting office may be enough but an in-person visit might be necessary.”Know who you’re working with.In addition to the details of the house, the details of who you’re working with can be as or even more important.“The most critical and sometimes not realized pitfall until its too la te, is having a reliable and good contractor,” urged Jeannie. “A bad contractor can literally destroy your budget and your dreams of the finished product.Imagine having to not only fix whats wrong but redoing the things youve already paid for. Weve gone through this in our business and it DOUBLED the budget.”And of course, as we mentioned earlier, it’s vital that the sellers you work with are trustworthy.“As for the final advice, if the seller is uncooperative and unwilling to help you make these checks, hes hiding something,” warned Stoddard. “So better make sure youre out of there before you buy and later regret it.”Take care of your money.On this blog, we frequently write about how people can improve their financial outlook by avoiding short-term no credit check loans like payday loans, cash advances, and title loans. But getting stuck in a money pit could  easily be far more costly than any of those predatory bad credit loans could ever hope to be!Buying a home w ill always be expensive and come with its own set of risks. But the more careful you are and the more research you do, the better your odds will be of avoiding a money pitâ€"and the better your financial outlook will be moving forward.To read more about saving money on home maintenance, check out these other posts and articles from OppLoans:6 Ways to Keep Your Home Warm for LessHow You Can DIY Your Way to Cheaper Home Maintenance9 Tips for Keeping Your Security Deposit12 Tips for Getting Rid of (and Selling) Your Extra ClutterDo you have a question about saving money? Let us know! You can find us  on  Facebook  and  Twitter.  |  InstagramContributorsJohn Bodrozic  is a co-founder of  HomeZada (@HomeZada), an online and mobile home management solution. HomeZada strives to educate and provide resources for homeowners in all areas of home management, including home inventory, home maintenance, home finances,  and home improvement projects.Jeannie is a married, stay at home mom in Atlan ta and is currently pregnant with her second child. She’s also a real estate investor. In her free time, she loves to travel, read, go for walks in nature and go to the movies.Bryan Stoddard runs a website called  Homewares Insider (@homewaresinside) that explores all things related to homes, interior design, furniture, and gardening. Im also a passionate home designer that loves to tinker with DIY and design schemes.

The Glass Castle And Literary Theories - Free Essay Example

The Glass Castle and Literary Theories If you dont want to sink, you better figure out how to swim. (Walls, 66) Although this quote was said by Rex as he was teaching Jeanette to swim, it stands out because it wraps up the whole theme of the book in that one little line. Not only is this the strategy that represents the way Jeanette and he siblings were raised but it shows the way they were often presented with challenges, some life threatening, but nine times out of ten those challenges were always out of their control. The two literary devices that I found to be most evident share the common theme of what you put in, is what you get out, those being the analysis of both the marxist theory; taking a deeper look into the way social class affects different aspects of the Walls family and the archetype theory looking at the typical main characters and their situations that are suspected to represent universal patterns of human nature. There were many characters that had archetypes tied to them, but the one that I think had the biggest influence on everyone at the end of the day was Rex, the father or head honcho of the Walls household. He was seen as a mentor at first but also the villain. Rex was very intelligent and he taught his kids many important life skills throughout their lives. The only downfall was when he drank, which was often, he became short tempered and extremely manipulative. As a mentor he was able to teach his kids many skills that set them apart from other kids their age, things they may not learn in school but just going through the motions of life. Rex taught them the essentials in life. He really drove home the values of objects and the priorities in which they came. The children placed very little value on objects and more so on things that will last their whole life, We laughed about the all the kids who believed in the Santa myth and got nothing for Christmas but a bunch of cheap plastic toys. Years from now, when all the junk they got is broken and long forgotten, Dad said, youll still have your stars. (Walls, 41) That quote shows that he was a successful mentor in the aspect he taught his kids the values he believes matter. On the flipside Rex also fulfilled the villain archetype when he drank. He often lost jobs because of his alcoholic-like issues and in the bigger picture, that lead to no constant flow of income for the household. On one Christmas when the family was doing well they chose to celebrate Christmas on Christmas instead of celebrating a week later when everything is cheaper and on sale as they had done in t he past. Later that night Rex came home drunk and thought to really light up Christmas (Walls 115) by burning the Christmas tree down. His actions ruined Christmas for the entire family but no one says anything to him because of his abusive behavior when intoxicated. Many times throughout the story there are small hints that Rex abuses his wife, yet she wont leave him. Rex ultimately puts the family in tough situations by not bringing in enough money, spending it all on alcohol or causing discomfort for everyone at home with his abusive behavior. Throughout the story Rose Mary and Rex represent the lower class of society and utilize what they think are goods in their situation as a way to influence their social standing. Regardless of the childrenrs well-being, both parents attempt to move up in society through valuing in their minds what are the right things to value. Another word for this is commodification, which is the idea of valuing things not for their usefulness but for their power to impress others or for their potential resale opportunities. Rose Mary displays this through her constant artwork that she takes so much pride in and would rather do than raise her own children. At one point she poses the question, Why spend the afternoon making a meal that will be gone in an hour, shed ask us, ?when in the same amount of time, I can do a painting that will last forever? (Walls, 56). Rose Maryrs question indicates her attitude that her paintings will impress others later on proving her commodification values. Her desire t o impress others with her art pieces reveal her attempt to increase her social standing. Her concerns with how she is viewed in this aspect show how peoplers socioeconomic situations play a role in how they do certain things. Along with the commodification values seen through the parents actions, the childrenrs reluctancy to remain in the lower social class show how they were able to actually take their experiences and better from them, especially Jeanette. Jeannette continuously attempts to raise her social standing but she was stuck in the lower class due to her father who would always ruin their attempts with his outbursts of anger, non-present source of income and his alcoholism. Just because he was suffering in the lower class he tried to make it seem like his children were incapable of making themselves into something more. For example, Jeanette planed to sell her rocks and create a business when she was younger. She wanted to create a business in which she had, rock sales I explained that all my rocks were incredibly valuable and Id rather keep them than sell them for less than they were worth (Walls, 59-60). Jeannette tries to raise herself out of her horrific situation from a young age knowing he r full potential. When Jeannette moves away from her father into the city, her standards of living as well as other aspects improve, only because she worked for it. That is one of the key messages all of the children did take from their situation, if they wanted something they needed to work and sacrifice in order to get it. All in all Jeanette Wallrs memoir preached the idea of one being their biggest enemy, by illustrating the way Rex lived his life and how it affected those around him in regards to the different character archetypes connected to him and looking into the extreme lifestyle in which the family endured due to the influence their social class had on them. The literary theories within The Glass Castle help to really showcase the different impacts little things have on the way people do certain things or why they choose to live the way they do. Although it may look a certain way to someone, no one will truly know the reasons why, unless really evaluating and taking everything into account, just as in this instance the literary theories helped do.

The Rise Of Wealth And Wealth - 1595 Words

Revision In today’s society, wealth and riches is something that does not come along easily. Wealth is something you must work hard for or be born into. One believes money is the only thing that can cause happiness. Honestly, have you ever seen a sad rich person? Probably not. Wealth has a mindset built around it. To wealthy people, they think the world is on a string in their pocket. They can go anywhere, do anything, without having to worry about what it will take. To lower income families, wealth is something to be dreamed about. Hardworking men and women may not make enough money, living paycheck to paycheck, doing what they have to do to keep their family happy. Wealth equals money. However, are there other ways to obtain riches in this life? Is wealth truly the only way to have a fulfilling life? The answer is no. Life is full of beautiful riches without having to put a price tag on them. Wealth and life fulfillment can be obtained in so many ways when thought about in a more radical way. As adulthood grows near, one will often think about the family to be built in the future. Growing up, family is something most teenagers take for granted. Constantly thinking, â€Å"Eh, there’s always next year.† Children and teenagers are so quick to leave a family party early without even thinking about it. This is where things will change as the whole family gets older. As the kids get older, everyone else gets older with them. Time becomes less and less available. ThisShow MoreRelatedAn Inquiry Into Adam Smiths: the Rise and Fall of the Wealth of Nations1142 Words   |  5 PagesAn inquiry into Adam Smiths: The rise and fall of the Wealth of Nations What was the most important document published in 1776? The Declaration of Independence is the easy answer for Americans, but many would argue that Adam Smiths The Wealth of Nations had a more important global impact. In this article, we will look at Smiths masterpiece and its contributions to modern economics. (For background reading, see Adam Smith: The Father Of Economics.) In Opposition to Mercantilism On MarchRead MoreThe Great Gatsby By F. Scott Fitzgerald1674 Words   |  7 PagesGatsby amassed a lot of wealth from organized crime activities and just like many other people at that time struggled to create a new social identity for himself as a result of the wealth. By describing how Gatsby was really struggling to ascend to a higher social class, Fitzgerald shows how people defined themselves through social class and status, and how they always wanted to get to the higher social class. In The Great Gatsby, Fitzgerald addresses the meaning of wealth, and other determinantsRead MoreIncome Gap in Canada949 Words   |  4 Pagesincome and wealth. How has the occupy movement contributed to this debate? Inequality in Canada is a growing problem. 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Evolution Of The Summit Bank Finance Essay - Free Essay Example

Sample details Pages: 27 Words: 7964 Downloads: 4 Date added: 2017/06/26 Category Finance Essay Type Narrative essay Did you like this example? Since the inception of the Summit Bank on 18th August 2010 the bank has focused on an aggressive growth strategy and reinvented its mission and vision statements, the bank was previously known as ArifHabib and was Partially acquired by Suroor Investments a stron financial group. Later took place the acquisition of Mybank this is where this research project has played the role. The Research project focuses on the post merger profitability analysis with two approaches (i) Financial comparison before and after the merger, (ii) Questionnaire data tabulation where qualitative data was measured. Once the results of the two approaches were obtained they were combined to reach an answer to the hypothesis of the research. Don’t waste time! Our writers will create an original "Evolution Of The Summit Bank Finance Essay" essay for you Create order The aim of the study was not to study this particular meger alone but was also to see what elements affected in making a merger result as a good/profitable/ efficient/ correct decision merger. It also opens way for opportunities related to future bank mergers. Actually the decision making of those mergers what should be the pre-requisites. Strategic management was well studied and discussed with the managers and employees, followed by an in-depth analysis of the organizational effects it had. INTRODUCTION Company Overview Summit bank which is the subject of our study is presently one of the fastest growing commercial bank. Coming to evolution of the Summit Bank The Pakistan operations of Rupali Bank Limited were acquired by Arif Habib Securities Limited under the Scheme of Amalgamation approved by the State Bank of Pakistan. The name of Rupali Bank Ltd was subsequently changed to Arif HabibRupali Bank Ltd and then finally to Arif Habib Bank Ltd in October 2007. On 31st March 2010, Suroor Investments Ltd,   a company incorporated in Mauritius, acquired 59.41% stake in Arif Habib Bank Ltd from Arif Habib Securities Ltd, and on 18th August 2010, ArifHabib Bank Ltd was rebranded as Summit Bank Ltd. Suroor Investments Ltd, also entered into share purchase agreements (SPAs) with majority shareholders of MyBank Ltd and Atlas Bank Ltd, who after completion of the transactions have merged in Summit Bank Ltd expanding the Banks geographical outreach with a network of 166 Real Time Online branches across the country. In line with the managements vision of making this bank a front runner amongst its peer banks, this merger has brought synergies and access to a wider range of markets and customers.[i] This is information shows that the bank went through several stages of acquisition and merger before becoming what it is today. This also shows that the bank had different management hence different decision makers at different steps, we cannot ignore the positions Mybank and Atlas Bank and the study must separately study the financial statements this will also allow us to study the synergies and burdens contributed by the merger which is part of studying the Profitability of the merger. Summit Bank Today After completion of merger with My bank on 30th December 2011 the bank is now operating with a branch network of 165 branches.[ii]As a result of merger multiple branches were located in the same vicinity which were re located strategically and were able to reduce rental costs by Rs.53 Million.[iii]This is a huge synergy that is observed in reduction of expenses and will affect the revenue of the Current Bank. Board of Directors of Summit Bank Mission Statement To be a financial institution based on Trust, Integrity and Good Governance. To deliver financial solutions to our customers. To provide equal opportunities professional working environment to our employees. To provide fair return to our shareholders on their investment. To serve the community at large. To discharge corporate social responsibility.[iv] Vision Statement To be the preferred provider of financial products services to the markets[v]. Comments From the above provided information we do realize that the banks approach is focused. The bank is clear of its objectives and of the path that needs to be followed in order to achieve the above stated framework. The first clause of the mission is regarding the work ethics of the bank the second half ensures hiring of competitive, effective and efficient management. The second clause ensures that the company want to give its employees a professional and yet comfortable environment. Third clause being most important in terms of profitability check and conflict of interest. The fourth is the purpose and survival of the organization and the last one is the realization of responsibility. Products and Services Offered The Banks Services may be divided in Six Core Services Comments There are six core services offered by the bank which is a competitive number for a bank of this size in the particular region. They are well distinguished from each other and cater to all segments and sectors from individuals to SMEs to large corporate organizations allowing a wide range of forms of transactions that may be made. Deposit Products Summit Classic Account Key Features: One account with a bundle of product Minimum monthly average balance as low as Rs. 50,000/- Up to 3 Visa Debit Cards free. Special Retirement Or Investment Insurance Plan at only Rs. 2000/month (bancassurance) Loan Facility (secured) with special rates[vi] Current Account Non-interest bearing Starter cheque book issued when the account is opened Unlimited  free-of-cost  transaction facility No deduction of Zakat Choice of periodic statements (monthly, quarterly, half-yearly and annual) by post Access to account statement anytime through Internet Banking facility Account transaction information through SMS Free issuance of VISA debit card Cash withdrawal through large ATM network[vii] Savings Account Starter cheque book is issued when the account is opened No penalty on minimum balance not being maintained Choice of periodic statements (on monthly, quarterly, half-yearly and annual basis) by post. Access to your account statement anytime through our Internet Banking and e-Statement facilities Account transaction information through SMS Free issuance of a VISA debit card Easy cash withdrawal through a vast network of ATMs[viii] Term Deposits Individuals (single or joint) Minors (to be operated by the guardian) Charitable institutions Provident fund other funds of benevolent nature Local bodies Autonomous corporations Limited companies[ix] Firms, associations, educational institutions, financial and other institutions who intend to retain their deposits for a fixed period in order to earn a higher rate of profit. MahanaAmdan Deposit Limits Rs. 50,000 up-to Rs.10 million Rate of Profit Term Deposits Expected Rate of Profit 3 Months 8.50% 6 Months 8.75% 1 Year 9.50% 2 Year 10.00% 3 Year 10.00%    Source Official Website Summit Bank dated 9/8/2012 Daily Product Account Here the interest is calculated on the daily closing balance. Hamara Summit Family Savings Account Key Features Grouped accounts for the family Initial Investment Requirement-Rs.5,000/- Minimum Balance Requirement-Rs.5,000/- Attractive return of 9% Additional 2% as bonus feature Up to Five free Visa debit cards Minors can make purchases and withdraw cash at ATMs via the Visa Debit Card[x] Summit Advantage Account Key Features: Maximum Loan up to 70% of the deposit  with no additional markup  (11.0% p.a.) Exceptional returns up to 11.0% p.a. Monthly profit payout Term: 1 year Minimum investment of Rs 100,000/- with a maximum limit of up to Rs 50,000,000 Access to a  range of value added facilities[xi] Summit Sixer Added Insurance Comments The above information describes the Key features of each product. In-depth study of the products makes the key differences evident of products under the same category. In this particular write up the differences in deposit products are evident. The different savings rates offered depending upon minimum deposits, on your income, on the time period of the deposits, if the rates are changing with every year or month then what conditions is to be met. The bank has made efforts to accommodate maximum deposit base through the variety of products and flexibility given to the consumer. This allows the consumers to choose according to their own deposit needs. Corporate and Investment Banking Commercial and SME Banking Commercial SME Division targets Medium Sized Companies with a turnover of at least PKR 25 50 million.   Financing is offered to the following Working Capital Financing Procurement of Inventory Receivables financing Procurement of Machinery Expansion of production facilities BMR Import / Exports Guarantees[xii] ConsumerBanking Home Finance These are mainly mortgage loans. These loans are offered for immovable property such as housing finance. The purpose is to allow Personal Finance The salient features of this plan are appended here-under: Loan Amount Minimum: Rs.25,000/-Maximum: Rs.1,000,000/- Loan Tenor Minimum: 1 yearMaximum: 5 years Type of Loan Term Loan Type of Facility Un-Secured Type of Markup Fixed During Loan Term Premature Payment Facility Available Loan Enhancement Facility Available  Ãƒâ€šÃ‚  (History / Income Based) Loan Top-up Facility Available Source: Official Website of Summit Bank as at 9/8/12 Bancassurance Bancassurance  is the distribution of insurance products by banks, through their own distribution channels. The Products and Sub-Products are listed below MetLife Alico The Graduate Plan The Wedding Planner Golden Age Plan Goals Jubilee Life Jubilee Life (formally New Jubilee Life Insurance Company Limited), a subsidiary of the Agha Khan Fund for Economic Development (AKFED), Switzerland, brings global experience to Pakistan. For over a decade, Jubilee Life has been in the business of providing customers with a better life; a life of security and safety. Jubilee Lifes clients can be secured in the knowledge that their operations are backed by an internationally acclaimed organization with global reach.[xiii] SuhanaKal A combination of savings and protection elements ensuring that the family is secured even after retirement. The salient features of this plan are appended here-under: Product Type Unit linked life insurance Policy Term Min 10yrs to max up to 57 yrs with retirement age 55 75 yrs choice Minimum Basic Premium Annual 24000/,   semi-annul 12000/, quarterly 6000/- Monthly 2000/- Premium Payment Method Direct debit from SMBL account Eligible Age for Enrollment Min 18yrs to Max 65yrs Unit Allocation 1yrs policy 30%   2yrs policy 85% 3yrs policy 90% 4yrs onwards 100% AVAP 100% Investment Stratigies Managed Fund   Yaqeen Growth Fund Meesaq Fund Capital Growth Fund Loyalty Bonus 5 yrs and onwards 3% Maturity Benefit At the end of the chosen term of the plan, the policy holder will receive the accumulated cash value of the plan. If the attained age of the policy holder at maturity is 55 yrs or above, he will also have an option to use the cash value, to buy a pension, especially tailored for individuals who prefer a steady stream of income instead of a lump sum amount, at the time of retirement. The Pension term and conditions will be defined at the time of the maturity. Free Look Period 14 days Partial Withdrawal If you need to withdraw cash for meeting some emergency needs, but do not want to surrender the policy, you can withdraw any amount provided that the residual cash value of your policy after withdrawal is greater than or equal to Rs. 24,000 (the residual cash value floor may be reviewed by Jubilee Life) Grace Period 30 days (renewal) Policy Surrender After completion of two policy years (given two years complete premiums have been paid), you can surrender your policy. At the time of surrender, you will be paid in full the cash value of your fund. However, surrender in early policy years may result in lower cash values. Non-Medical Limit PKR 2.0 Million upto Age of 44 yrs Optional Riders *Optional Riders available on request Source: Official website of Summit Bank as at 9/8/12 SunehraAaghaaz SunehraAaghaaz offers to make regular, systematic savings, and allows for protection to the family from uncertainties. The salient features of this plan are appended here-under: Product Type Unit linked life insurance Policy Term Min 10yrs to max up to 70 yrs Minimum Basic Premium Annual 24000/,semi-annul 12000/, quarterly 6000/- Monthly 2000/- Premium Payment Method Direct debit from SMBL account Eligible Age for Enrollment Min 18yrs to Max 65yrs Unit Allocation 1yrs policy 30% 2yrs policy 85% 3yrs policy 90% 4yrs onwards 100% AVAP 100% Investment Stratigies Managed Fund Yaqeen Growth Fund Meesaq Fund Capital Growth Fund Loyalty Bonus 5 yrs and onwards 3% Maturity Benefit Account value Payable in Lump sum Payment Free Look Period 14 days Partial Withdrawal If you need to withdraw cash for meeting some emergency needs, but do not want to surrender the policy, you can withdraw any amount provided that the residual cash value of your policy after withdrawal is greater than or equal to Rs. 24,000 (the residual cash value floor may be reviewed by Jubilee Life) Grace Period 30 days (renewal) Policy Surrender After the completion of two policy years (given two years complete premiums have been paid), you can surrender your policy. At the time of surrender, you will be paid in full the Cash Value of your fund. However, surrender in early policy years may result in lower cash values. Non-Medical Limit PKR 2.0 Million upto Age of 44 yrs Optional Riders *Optional Riders available on request Source: Official website of summit bank as at 9/8/12. Electronic Banking Our Mobile Banking allows customers to avail a variety of banking services of pure SMS-based technology, including mobile balance recharge and utility bill payments, as well as account information. Internet Banking is another channel on which we offer extensive banking services. Customers can view account information, pay bills, transfer funds, and conduct many other transactions through their account(s) Hence providing a fast, secure and convenient way to banking. Summit Bank is  a member of 1LINK Guarantee Limited. To learn about the products and services offered by 1LINK, please click on the link  https://www.1link.net.pk.[xiv] Remittance Summit Bank has designed and developed its own electronic interface by the name of Amanat Cash to facilitate various exchange companies and banks to send home remittance to Pakistan on real time basis. This has made possible, for all Pakistanis, to receive remittances by their loved ones for FREE, in a fast and fully secured manner. The service we offer is readily available to every one regardless of having account in Summit Bank.[xv] Salient Features Of Summit Bank Home Remittance includes: Fastest Account Credit Free Quick Processing Real Time Premium, exclusively dedicated friendly Customer Service for Home Remittance Customers. 24/7 Customer support through Contact Center. Trade Finance Trade Finance Trade Finance being the prime focus of our Management, we offer wide variety of Funded and Non-Funded Trade related facilities.[xvi] Other Services To become highly Competitive in the field Evening Banking Branches were highlighted these branches operate longer than the usual banking hours, to further enhance the experience e-banking services were introduced which did satisfy the needs of different segments of the consumers. The Saturday banking branches were also singled out as Saturday is holiday for other banks. The Bank was successfully able to become part of the VISA international network by August 2011.[xvii]This allows the bank to increase the source of foreign exchange as well as income not to forget it removes restriction from being able to obtain local currency from anywhere where ATMs are located. These policies show that the bank is ambitious to achieve its goals of widening and diversifying its customer base, continuous innovation and addition to product and services offered, also, to continue to increase its present e-banking and branching banking services. Literature Review Banking Banking is part of the financial systems; which has a vast number of institutions working under it for the allocation and mobilization of financial resources, is an integral part of the economy. Banking in my view is a phenomena itself no less a world of its own yet so closely related to the global economic phenomena, business cycles, and money supply. They act as intermediaries between the surplus units and the deficit units. Savers are mainly households, whereas borrowers are businesses, investors and firms As suppliers, households are depositors of savings; as users they are borrowers of the banking system, where banks are financial intermediaries.[xviii] When talking of the structure of the financial system it is divided in two parts indirect finance and direct finance it is the indirect finance where commercial banks play a role. The mechanism shows us how banks are driving forces for the economic development through economic growth when the borrowers have successful business ventures resulting in profits which result in corporate expansion increased income and increased employment reducing improving the countrys GDP. Now once we are through with the role of banks let us not forget that commercial banks are also businesses which need to be successful business ventures and failure to make profits can lead to their shutdown and deteriorate the trust of the savers from the banking system, especially in a developing economy such as Pakistan. Banks have their own products which are a source profits their balance is different yet the same if the products are understood well. Moving on banking in Pakistan is as much a baby as the country itself and with the many economic and other political and many more factors the banking system has suffered much, political influence in the wreckage of banks cannot be ignored. The relationship is explicit in the diagram on the next page. There is a list of Banking Risks faced by the banks whose in depth analysis is interesting and a new opening. FINANCIAL SYSTEM: Flow of funds Structure Operations Str[xix] Debt or Equity Funds Investment funds Investment Funds Surplus Units Savers Households Business Firms Government Foreigners Deficit Units Spenders Households Business Firms Government Foreigners Debt or Equity Funds Direct Finance Financial Markets Loan Funds Deposit Funds Indirect Finance Financial IntermediationBanking Sector in Pakistan When talking about banks it is the central bank which never loses its importance which in most part of the world is separate from the government which really doesnt mean it is separate from political influences. In Pakistan State Bank plays the role, gives all the advises and set all the rules and regulations not to forget offers investment opportunities to the banks in Pakistan to a high level that economic growth is actually reduced. Before we move on to the current banking structure lets see what history tells us at the time of partition all banks but two moved to India with all their major clients, the two banks which stayed included Habib Bank and all in all Pakistan had 70 branches of banks in all. At the time there was no central bank for Pakistan and Reserve Bank of India acted as the central bank as Pakistan did not have its own currency however India soon started to withdraw the currency. This gave the newly born country a huge set back as the Reserve Bank started withdrawing money Pakistan then came up with its own currency and in June 1948 Pakistan succeeded to do so. Then came development of the financial sector which was soon met by two wars 1965 and 1975 which were a set back to the system. Today, after much struggle the banking sector in Pakistan has made a stand and needs to improve further, foreign banks have come in after privatization of the banking sector was introduced the corporate sector was given credits which again further improved the positions and after this rapid decade long phase of privatization we recognize the 6 largest banks of Pakistan particularly in terms of deposit percentage. This introduced interest rate banking in more free and obvious ways. However currently in the year 2012 it is observed that many large foreign banks have wrapped up their system and plan to retrieve. The growth rate of the deposits say Financial savings also play a vital role, during the past decade this average growth rate of financial savings was 13% per year.[xx] Financial system deposits include banking system deposits and NBFIs deposits. NSS are not part of Financial System Deposits, these have increased from Rs 1174 Billion to Rs 4731 Billion over the past decade. And Banking Deposits were the largest being being 97%[xxi]. The banking sector of Pakistan consists of the total 40 banks in which there are 4 public scheduled banks operating, 25 local private banks, 7 foreign banks and 4 specialized banks[xxii]. Post-Merger Profitability Analysis As observed from the past studies it is seen that vast number of academic research analyze pre and post-merger efficiency and profitability however it is also observed that these studies are done with respect to a particular subject such as the wealth holder that is the equity holder, however this particular research paper will analyze efficiency and profitability in particular from the perspective of the institute itself and hence the shareholder. In order to evaluate the financial performance of an institute use of financial ratios is like a universal standard which will be the main research methodology used here. The research method has also been used by (Kemal, 2011) for RBS. In his paper he has mentioned Rhoades (1993) whose paper had 33 bank to bank mergers as a sample and he has discussed cost and profit efficiency with borders and cross borders and no cost efficiency was analyzed cross border mergers. Another paper Resti (1998) analyzed the paper with respect to performance, target markets of merged banks and reached to a conclusion that the efficiency did increase in the later years of the merger if the size of the bank was not too big. The article also concluded that it was better if the merged bank were of equal size. Challenges Issues The higher credit risk in the form of non-performing loans is affecting the performance of the bank in particular where we have government influence. Second major issue is that of performance is that the public banks are more affected by the adverse situations of the economy and non-satisfactory governance the higher degree of capital losses result in insolvency which is then covered by the SBP. To create a higher degree of competition and to increase the transparency in the management of the whole system privatization should be considered as a basic agenda. Proper diversification of the risk among all the sectors should be done e.g. restricting the flow of credit to just a few sectors which results in the earnings highly skewed to the performance of those sectors which can further be of high risk. The high liquidity requirements by bank can also be a source of inefficiency making its proper management a crucial task. As maintaining a higher level of liquidity the required means the bank is under utilizing its assets making the banking business cost ineffective by increasing the costs of funding There is a need to identify all the supervisory authorities; their responsibilities, effective implementation of the supervisory framework for which the trained staff is a prerequisite. Strict notice should be taken with respect to enforcement of law, implementations of the judgments of the courts on the basis of the disputes relating to the financial issues. Hence, the efficiency analysis of banks will help to identify the attainment of efficiency using rational resources which seem to be in accordance with the policies of the management and more importantly the function of bank in the economy; only if the banks will be operating in the efficient manner the efficient allocation of money can take place. Competitive Analysis For the purposes of competitive analysis NIB bank has been selected. NIB bank has a very similar history of mergers as Summit Bank and hence is a good benchmark for analysis of financial data not to forget that the NIB Bank size is also in the same bracket as Summit Bank. About NIB Bank NIB started operations in October 2003 with a paid up capital of Rs. 1.2 bn. Operations for NDLC, IFICs Pakistan and Credit Agricole Indosuez Pakistan were amalgamated with their assets and liabilities in April 2004. Temasek Holdings acquired 25% shareholding in NIB in March 2005 through Bugis Investments which was enhanced to over 70% in June 2005.NIB has branches all over Pakistan.[xxiii] We will focus on the Financial Analysis of the two Banks over the past three years. MyBank INTRODUCTION Company Overview My bank was launched in 2005 as a public limited company under the Companies Ordinance 1984. Its banking operations commenced from November 2005. The bank was involved in commercial banking and related services. Remittance Deposit schemes Foreign trade Utility collection bills Lockers Car financing MySahoolat (MyDream Home) home financing Easy credit scheme Agricultural finance schemes Online banking ATMs Mobile banking. Were the services offered by the bank. Vision Statement To be the best Customer Service bank in the country with the highest Economic Value Added through engaged and motivated people. Mission Statement Satisfying customers, building the productive everlasting relationship. Core values Comments The Core values of the two banks were coherent, which is very essential. FINANCIAL ANALYSIS BEFORE AND AFTER MERGER Earning Per Share As it may be evident the earning per share situation has improved after the merger it was negative 2 and this has most certainly declined even though Summit has not as yet announced any dividends. As for ROI we may see clerarly from the Financial Reports that the ROI has also improved over the past year this was attributed to the reduction in cost when the two banks merged and synergies enavbled them to layoff as well as close down unnecessary branches and strategically relocate wher they could pitch more number of Depositors. FINANCIAL ANALYSIS WITH COMPETITOR Financial Analysis Profitability Analysis Performance 2011 2010 2009 1 ROE -27.9% -83.98% -50.83% 2 ROA -1.28% -4.18% -5.41% 3 Pre-Provisions Operating Profit / Avg. Equity -56.84% -40.34% -12.04% 4 Pre-Provisions Operating Profit / Avg. Assets -2.69% -2.80% -1.28% 5 Personnel Expense to Total Net Revenue 327.20% 176.48% 127.93% 6 Cost to Total Revenue -448.79% -194.00% 483.50% 7 Other Operating Income / Total Net Revenue 56.22% 35.23% 30.30% 8 Taxes / Pre Tax Profit -49.50% -22.12% -9.57% 9 Net Non Earning Assets / Assets net of Non Interest Liabilities 25.17% 22.59% 16.10% Profitability Ratios for Summit Bank Source: The data to calculate values was taken from Annual Report of Summit Bank. Profitability Ratios for NIB Bank A PERFORMANCE 2011 2010 2009 1 ROE -15.05% -74.02% 1.66% 2 ROA -14.95% -74.01% 1.66% 3 Pre- Provision Operating Profit/ Avg Equity -5.24% -9.30% 6.70% 4 Pre- Provision Operating Profit/ Avg Assets -5.23% -9.32% 4.46% 5 Personnel Expenses- to Total Net Revenue 111.13% 149.12% 75.48% 6 Cost- to Total Net Revenue 120.47% 151.79% 84.00% 7 Other Operating Income/Total Net Revenue 50.86% 36.78% 23.75% 8 Taxes/Pre Tax Profit 41.27% 19.88% -7.29% 9 Net Non- Earning Assets/ Assets net of Non- Interest Liabilities 34.68% 33.05% 42.01% Source: The data to calculate values was taken from Annual Report of NIB Bank Comments As may observed from the above ratios the profitability ratios of NIB bank are better this may be due to the MBL merger as that introduced a lot of defaulter credit base which the bank was able to in 2011 however we see that Summit Banks position has improved contrary to NIB bank whose position has deteriorated over the past three years. The most important ratio here is ROE specially when our study is based upon analyzing the efficiency of the mergers. Capital Adequacy Ratio Analysis Capital Adequacy Ratios for Summit Bank B. CAPITAL ADEQUACY 2011 2010 2009 1 Equity / Total Assets 4.60% 4.97% 10.65% 2 Adjusted Equity ( including revaluation surplus ) / Total Assets 5.20% 4.67% 10.62% 3 Revaluation Surplus ( deficit ) / Adjusted Equity 11.58% -6.54% -0.28% 4 Capital Adequacy Ratio as per SBP 7.77% 5.35% 9.83% Source: The data to calculate values was taken from Annual Report of Summit Bank Capital Adequacy Ratios for NIB Bank B CAPITAL ADEQUACY   2011 2010 2009   1 Equity/Total Assets 8.78% 8.31% 20.01%   2 Adjusted Equity (Including revaluation impact)/Total Assets 8.83% 8.31% 19.95%   3 Revaluation Surplus/(Deficit)/Adjusted Equity 0.66% 0.01% -0.28%   4 Capital Adequacy Ratio as per SBP 7.77% 5.35% 9.83% Source: The data to calculate values was taken from Annual Report of NIB Bank Comments It is clearly evident that the equity for NIB is much stronger than that of Summit Bank however it may not be said that it is a good sign as it reflects the under utilization of Assets by NIB bank we need the Industry averages to make more appropriate conclusions. As the impact of stability will become more evident as NIB is more stable and less aggressive at the moment. Also the economic situation has to be kept in mind. LiquidityRatio Analysis Liquidity Ratios for Summit Bank    LIQUIDITY 2011 2010 2009 1 Liquid Assets / Deposits and Borrowings 39.47% 34.02% 36.91% 2 Finances / Deposits and Borrowings 43.98% 54.65% 56.31% 3 Finances / deposits 64.75% 71.05% 59.14% 4 Demand Deposits / Total Deposits 19.78% 13.06% 12.42% 5 Export Refinance / Advances 38.06% 11.83% 8.40% 6 Finance ( net of Export Refinance ) / Deposits 40.11% 62.65% 54.17% 7 Government Securities / Total Assets 25.83% 21.11% 23.33% 8 Finances / Total Assets 40.21% 49.81% 48.48% 9 Lending to Financial Institutions/Borrowing from FIs (net of ERF) 6.37% 0.00% 8897.41% Source: The data to calculate values was taken from Annual Report of Summit Bank C LIQUIDITY 2011 2010 2009 1   Liquidity Assets/Deposits and Borrowings            2 Finances/Deposits and Borrowings 38.60% 47.40% 50.59%   3 Demand Deposits/Total Deposits 30.39% 25.19% 26.40%   4 Export Refinance/Advances 16.00% 17.30% 17.01%   5 Finances (net of export refinance)/Deposits 50.41% 56.54% 71.20%   6 Government Securities/Total Assets 34.25% 31.08% 33.55%   7 Finances/Total Assets 45.53% 55.27% 54.71%   8 Lending to Financial Institutions/Borrowing from Fis(net ERF) 38.96% 21.82% 11.78% Liquidity Ratios for NIB Bank Source: The data to calculate values was taken from Annual Report of NIB Bank Comments In terms of Liquidity both banks have comparable ratios which shows that after all Summit is doing well within its branch size has sufficient depositors to keep up in the market even though deposits are never enough in a bank. The liquidity is in good shape Demand deposits portray a comfortable position. Loan Loss Coverage Ratios Analysis Loan Loss Coverage Ratios for Summit Bank D. Loan Loss coverage   2011 2010 2009 1 Impaired Lending / Gross Advances 48.75% 34.42% 31.25% 2 Loan Loss Provisions (Specific + General) / Impaired Lending 49.37% 50.24% 51.19% 3 Net Impaired Lending / Equity 206.05% 157.77% 60.22% 4 Net Impaired Lending / Adjusted Equity 182.20% 168.09% 60.39% Source: The data to calculate values was taken from Annual Report of Summit Bank Loan Loss Coverage Ratios for NIBBank D LOAN LOSS COVERAGE 2011 2010 2009   1 Impaired Lending/Gross Finances 64.73% 50.33% 28.87%   2 Loan Loss Provision/Impaired lending -69.10% -68.50% -68.20%   3 Net Impaired lending/Equity 447.91% 545.79% 201.76%   4 Net Impaired lending/Adjusted Equity 444.93% 545.76% 202.32% Source: The data to calculate values was taken from Annual Report of NIB Bank Comments Impaired Lending has been generally high in the year round for all the banks and in this respect we see that despite of all the impaired lending brought in by my bank Summit has been able to keep the figures under control unlike NIB Bank which has figures crossing 60%. Now this is alarming for the Banks. Growth Ratios for Summit bank F. GROWTH   2011 2010 1 Total assets 65.70% 89.32% 2 Gross Finances 38.91% 106.17% 3 Impaired Lending 96.75% 127.12% 4 Investments 93.91% 76.13% 5 Deposits 46.77% 61.91% 6 Equity 53.26% -11.61% Source: The data to calculate values was taken from Annual Report of Summit Bank Growth Ratio for Summit Bank F GROWTH 2011.00 2010.00 2009.00   1 Total Assets -5.81 -21.03 4.61   2 Gross Finances -14.11 -1.66 2.75   3 Impaired lending -1.49 48.15 4.33   4 Investments -4.23 -17.05 77.48   5 Customer Deposits 39.46 34.76 -10.20   6 Equity -0.57 -67.19 1.55 Source: The data to calculate values was taken from Annual Report of NIB Bank Comments The growth ratios also reflect that summit bank is doing what they want an aggressive growth with percentages 65% as compared to those of NIB Bank. MEGA ENVIRONMENT INDUSTRY ANALYSIS Mega Environment The Mega Environment of the Summit Bank involves economic, political, socio-cultural, technological environment and religion where Islamic Banking plays a role, Pakistan being Islamic Republic of Pakistan hence the constitution is in coherence with Shariah Law. Source: Adapted from Sadler and Craig (2003)Strategic Management, p.52 Political and Legal Environment Political environment and its impact on the banking industry, before the financial liberalization and privatization period commercial banks in Pakistan mainly catered to the borrowing needs of the Government. This way Banking credit was concentrated to a few public sector organizations and the growth of the private sector was not evident. This suited the banks requirement to take less risk and not to overlook the fact that it opened doors for many such political influencers the Mehran bank scandal to BCCI fraud all are evident results from the time. This way the financial system suffered, political interference in decision making related to lending created distortions in the system due to the excessively low recovery rates on such loans[xxiv]. The all time NPLs issue that we face today. Economic Environment The main factors in economic environment affecting the banking industry include GDP growth rate, inflation rate, changes in the level of interest rates, money supply, disposable income, unemployment rates. Considering the GDP growth rate as new jobs are created in the economy the income per capita will increase, people will have higher purchasing power and higher disposable income which will lead to high savings i.e.; the deposits for banks will increase and hence they will have more funds to lend out.[xxv] Technological Environment The technological environment plays a vital role in changing the dynamics of the banking industry, having both optimistic as well as the adverse impacts for the banking industry. Information technology help banks in such a way that it reduces the costs involved in the processing and management of the information, Socio-cultural Environment The most important factor observed in the last few years in Pakistan is the change of lifestyle of the people which has in turn affected their consumption patterns people are more inclined towards consumption and less savings. People tend to borrow more and more they want to consume today and pay tomorrow. It can become a major source of interest revenue for the firm as higher interest rate can be charged; higher risk premium involved. There is increased demand for services . Religion Religion as mentioned above for Pakistan has played a key role played a key role in changing how things work in the industry as well as increased the level of competition with introduction of Islamic banking and other Islamic products.. There has been observed quite high expansion in the Islamic banking especially in FY 2005-10. Islamic banking is widely practiced in various Muslim countries and it is regarded as the interest-free banking. The main difference/ conflict between the conventional and the Islamic banking are the interest rates. However the average annual growth of ten years FY 2000-11 of Islamic Banks has observed to be 46% as compared to the growth of commercial banks around 14% which is much less as compared to Islamic Banks[1]xxvixxvii. Porters Competitive Forces Source: Hill and Jones (2012), Strategic Management Theory: An Integrated Approach p.50 Michael E. Porter introduced the concept of how strategy is affected by the competitive forces of the industry in his article published in Harvard Business Review, March/April 1979[xxviii]. Despite the reported criticisms of the model, it is still effective as a foundation for industry analysis. Considering the banking sector of Pakistan, the Five Forces Model signifies attractiveness of the industry in which Summit Bank operates. Evaluation of these competitive forces will help shape the appropriate strategy for the organization. Bargaining Power of Suppliers Suppliers in case of banking industry are the service providers utilities, transportation, security, IT support, operations skilled workers, contacts, ability of customization of product. These liaisons are significant and impact the smooth operations of Summit Bank. Any discrepancy in these services gives rise to operational risk associated with the bank. Threat of New Entrants For banking sector, the threat of new entrants has been disproportionate[xxix], due to the minimum capital requirement (MCR) and capital adequacy (CAR) as required by the BASEL system. According to a prudential regulation circular issued by SBP, all locally incorporated banks are required to attain CAR of 10% and MCR of PKR 15 billion by the end of 2011, PKR 19 billion by the end of 2012, and PKR 23 billion by the end of 2013[xxx]. All banks (foreign or local) being incorporated after the issuance of circular i.e. after 2005, will be required to have the MCR of PKR 23 billion at the time of their incorporation. The foreign banks in Pakistan with their Head Offices holding paid-up capital, will have to attain approval from SBP regarding MCR and CAR, depending upon their branches in Pakistan. Similarly, the Direct Finance Institutions (DFIs) are required to attain MCR of PKR 9 billion by 2010. The aforementioned capital requirements raise the barriers to entry for local banks. However, the foreign groups having strong backing and necessary capital can diffuse in the banking sector of Pakistan which at the moment is not a feasible option as we see that many of the foreign bank which had come in recently are closing down their operations even citi bank one of the oldest foreign bank has shut down its operations in many parts. After all the foreign banks come across problems with respect to license acquisition and operations in Pakistan. Influx of Islamic banking institutions has been on the rise in Pakistan, while foreign banks like RBS, ABN-Amro, CitiBank, HSBC, etc. are either acquired by local banks or divesting their operations[xxxi]. Threat of Substitute Products Substitute products in case of banking sector could be the services of non-banking financial institutions (NBFIs) like insurance companies, credit unions, mutual funds, investment banks offering advisory services for IPOs, asset management companies, Islamic finance companies, mortgage and/or leasing institutions, etc. The strength of these substitute products are derived from the rate of return they offer and the quality of customer services that are being provided by them[xxxii]. Commercial banks are offering multifarious services to compete with these substitutes. Introduction of hybrid accounts, reduction in fees, and bundling of auxiliary services are few examples of such changes[xxxiii]. In Pakistans banking sector, commercial banks have the stronghold; however, Islamic financing and mutual funds are catching up in terms of reported profits and growth rates. To encounter this threat, Summit Bank will; have to move on and start Islamic Banking Operations. Bargaining Power of Buyers In case of general banking in Pakistan, the switching costs are low for most customers; hence they have more bargaining powers. Other components increasing their bargaining costs include the sources of publically available information, which allows them to compare the products of different banks. Degree of Rivalry The core of other four forces is the intensity of rivalry prevalent in the banking sector in Pakistan. The attributes of those factors act as the determinants of competitiveness in among the existing banks. As of June 2011, there are 32 local banks (with 9,431 branches nationwide) available in Pakistan, while 12 foreign banks are operational (with 32 branches across the country)[xxxiv]. The deposits of local banks (both private and public) grew by 17.60% on YoY basis, while those of foreign banks decreased -0.18%. Part of this impact has been due to the merger of RBS into Faysal Bank Limited in December 2010. HBL is the biggest player in the private banks with over 1400 branches across Pakistan. Other Top 5 banks of Pakistan include NBP, MCB, ABL, and UBL. External Factor Analysis After assessing the opportunities and threats external to the organization, the External Factor Analysis Summary is prepared[xxxv]. The first column consists of the Summit Banks strategic opportunities and threats, while the respective weights (0 to 1) are assigned according to the factors significance in the banking sector. Subsequent ratings (1 to 5) are given for each factor depending upon the organizations response to the external factors present. The next column shows the weighted score of the bank for each factor. The total weighted score calculated in the External Factor Analysis Summary Table shows that how effectively the organization is responding to the prevailing environmental conditions. External Factors Analysis Summary External Factors Weight Rating Weighted Score OPPORTUNITIES Demand for SME Financing 0.10 3 0.30 Increased Rural Demand 0.05 2 0.10 Expansion in Islamic Banking 0.2 4 0.80 Improved Technology 0.05 3 0.15 Change in Consumption Patterns 0.20 4 0.80 THREATS Differentiation on Services 0.05 3 0.15 Mobile Banking Security Threats 0.05 2 0.10 Branchless Banking 0.1 2 0.20 Competition from Islamic Banks 0.05 4 0.20 SBP Policy Changes 0.15 4 0.60 TOTAL 3.40 Source: Format suggested by R. Srinivasan (2005) in Strategic Management: The Indian Context Comments Opportunities Demand for SME Financing: In the current economic conditions there is a need for SME financing in order to move the business and inject cash flow so that the business may expand. The banking sector is not sufficiently catering to the SME sector due to high risks involved as such businesses are mostly un-documented, a few microfinance have recently come in emergence and are somewhat looking after the need like Kashaf Bank even though It raises the costs for banks to evaluate their credit worthiness. However, if Summit Bank focuses on such areas it can prove to be a profitable segment supported by large customer base. Presently, around 85% of the SME credit is given to the manufacturing and trading whereas while many potential areas remain untapped. The increased need of consumer financing can create greater opportunities for banks by increasing their exposure to consumer advances portfolio by charging higher interest rates on their advances due to risk premium they will be able to im prove their asset yield given the fact that NPLs stay within the tolerance level. Increased Rural Demand: There is a lot of demand in the agriculture Sector for loans particularly due to the floods which have ruined the soil in those areas and livestock, again Sindh Bank has tried to cater for it however political influences will never allow competition, besides influences banks are not currently catering to this sector due to the collateral problems available and hence there is a lot of scope for bank to cater to this particular segment which is evident from the share of agriculture in GDP which is still around 20%. Expansion in Islamic Banking: A dramatic increase has been observed in Islamic Banking the average annual growth of Islamic banking has been around 46% as compared to the commercial banks rate of growth of 14%[xxxvi]. Although the assets of the Islamic Banks have remained concentrated in the six dominant Islamic banks. This volatile growth was due to the new clientele network and inclination of people towards the Islamic banking rather than the conventional banking and by expanding into Islamic banking network Summit can avail the opportunities of increasing its fund base. Improved Technology: Through the use of improved and efficient information technology (IT) and risk management system the intermediation costs of the bank can be reduced; which will further lead to higher spread which in turn will translate into higher profitability. Change in Consumption Patterns: The socio-cultural changes are influencing the consumption patterns of the people. Even though the disposable income has not increased but people are using their future income for consumption through the use of credit cards i.e.; plastic money and currently the interest rate charged on credit cards is around 38-40% and by increasing its focus towards this segment and by launching various value-added services the bank can capitalize on this opportunity. Threats Differentiation on Services: The increase in the number of private banks has increased the competition within the banking industry, since banking is a service industry the only way to compete in it is through service, price wars tend to play a minimal role in banking industry and hence arises a need for differentiation of the products and in the service level for the bank to be remained as a preferred bank by the consumers. Mobile Banking Security Threats: As mobile banking and the e-banking has increased along with the technological implementations there exist certain loop holes in the system for hackers to exploit hence a high level of security is required to protect the consumers and the bank itself from getting into a law suit.. Branchless Banking: United Bank Limiteds Omni and Telenors easypaisa mimic branchless banking facilities which Summit Bank is currently not offering none the less Summit Bank is working with western union for international money transfers in particular which make it possible for consumers to make the transactions which otherwise would not be possible and consumers worth this particular need would switch. Competition from Islamic Banks: Islamic banks are currently offering high deposit rates as compared to the commercial banks; as the nominal weighted average return on commercial banks PLS deposits is around 4.76% including current accounts whereas in the case of Islamic Banks it around 5.50% in 2010, thus there is a threat that the depositors will toggle towards the Islamic banks in an attempt to earn more returns and consequently making it a threat for commercial banks. SBP Policy Changes: Changes in SBP monetary policy can lead to changes in interest rates which in turn causes change in the intermediation costs. Moreover the changes in the regulations regarding capital requirement and exposure limits can also affect the profitability level of the bank. INTERNAL FACTORS ANALYSIS SUMMARY INTERNAL FACTORS ANALYSIS SUMMARY Evaluating the strengths and weaknesses of Summit Bank will help identify the competencies which may be capitalized upon in the long run. Also, the deficiencies in the organizations could then be condensed through appropriate actions. Summit Banks internal factors were identified by analysis of financial statements, interviews with the operational as well as top management, and the insights offered by the banking sector experts for expert opinion some magazine cuttings were taken and have been referred to throughout. After assessing the strengths and weaknesses internal to the organization, the Internal Factor Analysis Summary is prepared[xxxvii]. The first column consists of the Summit Banks strategic strengths and weaknesses, while the respective weights (0 to 1) are assigned according to the factors significance in the banking sector. Subsequent ratings (1 to 5) are given for each factor depending upon the organizations position. The comments section following the Table elucidates the reasons for selecting each strength or weakness Internal Factor Analysis Summary Internal Factors Weight Rating Weighted Score STRENGTHS Branch Network 0.15 4 0.60 Strong Deposit Base 0.15 4 0.60 Established Clientele 0.1 4 0.40 Group-Backing 0.10 4 0.40 Low-Cost Funds 0.07 4 0.28 WEAKNESSES Customer Response Time 0.05 2 0.06 Decline in Advances 0.15 3 0.45 Impaired Lending 0.10 2 0.20 Risk Mitigation 0.10 2 0.20 Employee Turnover 0.05 3 0.15 TOTAL 3.34 Source: Format suggested by R. Srinivasan (2005) in Strategic Management: The Indian Context Comments Strengths Branch Network: Summit Bank is a medium sized bank when we talk about the Asset Base of the bank however the bank right now is following an aggressive approach to achieve its goals of an increased asset base. With respect to the branches of Summit Bank, are 166 operational presently. The Top 5 banks of Pakistan namely NBP, HBL, MCB, ABL and UBL are the prime competitors due to their asset base. However, other banks like Askari Commercial Bank, Standard Chartered, and Faysal Bank are gaining significance as competitors in regular banking. Strong Deposit Base: The deposits of Summit Bank includes Mybanks deposits too and hence has become huge CMH are also good clients.. Through opening of new branches, offering services that the clients require, and hiring skilled CROs, the bank is successful in attracting new deposits every year. Established Clientele: The prime customers of the banks consist of established businesses and multi-national corporations. Their transactions constitute significant share of business of Summit Bank. These clients keep the bank as an essential liaison in terms of trade financing, overdraft lending, letters of credit, deposits, etc[xxxviii]. Group Backing: Summit Bank is backed by Arif Habib group a leading name in Pakistan. And Suroor investments a group with the adequate equity. The strength of the parent company is evident in terms of raising funds to fulfill the liquidity required by the bank. Subordinated loans as the Tier II Capital in the balance sheet of Summit Bank is one example of such backing by the Abu Dhabi Group5. Weaknesses Customer Response Time: The customers seem happy with the branch network presence and with the EFFICIENCY there some of the customer interviews showed that certain customers had only recently moved to the new branch near their new location and were more satisfied with the service than the older bank service which were also namely old bank with an apparent excellent reputation. Decline in Advances: Summit Bank is inclined towards maintaining appropriate liquidity levels to match the withdrawals of the demand deposits, hence their advances have declined. Primarily, the respective funds are invested in the T-Bills as they have no credit risk and can be liquidated whenever required5. Impaired Lending: The degree of non-performing loans has risen in case of Summit Bank, despite its adherence to the SBP regulations regarding the maximum exposure in a given sector. The rate of repayment of loans given to related parties is lower, while the greatest portion of impaired lending is attributed to the Textile sector, with inadequate provisions. The second largest NPLs have originated from consumer loans offered to individuals (albeit credit worthy on paper)[xxxix]. These NPLs were mostly brought in by My Bank and Atlas Bank a gift of the mergers. Risk Mitigation: The b