The Situation of Fdi in Vietnam

The situation of FDI in Vietnam Inflow of FDI In 1987, Vietnam for the first time issued its ever first Law of FDI. Despite its relative short history, Vietnam has managed to attract a substantial amount of FDI. In relative term, Vietnam has been quite successful as compared with other countries, ranking the third recipient in the ASEAN [pic] Firgure 1: FDI Inflow into Vietnam during 2000-2010 (source GSO) Figure 1 shows the overall trend of FDI inflows in Vietnam for period 2000-2010.Together with the number of investment projects, the amount of registered capital for licensed projects were stagnant in the fourth first years of 20th century which is generally referred to as the circumstance of World Crisis period in Vietnam. Beginning the year2004, the amount of registered capital had a sign of developing and the registered capital peaked in the 2008 and dropped sharply subsequently when many multinational companies did not want to share their limited little capital as well as to fo cus on capital to reform their domestic enterprises seriously impact on Vietnamese economy.This phenomenon is most apparent in late 2008 and early 2009. Also, due to the influence of the financial crisis and the contraction of the credit markets, transnational companies are affected more or less. In 2008, merger and acquisition plans of transnational companies has declined 35%, down sharply from 2008. According to recently released statistics report of the Foreign Investment Agency also said that the implementation of FDI capital in 2011 is estimated at $ 11 billion, with the implementation of 2010 and contributed 25. 9% of the total investment of the whole society.Do not complete the plan (the plan is $ 11. 5 billion). Although only 74% compared to 2010, but this figure is encouraging in the context of global economic and domestic difficulties. The amount of registered capital increased by $ 3. 1 billion, 1. 65 times the registered capital increase in 2010 (1. 89 billion USD). This shows that foreign investors remain positive reviews about business and investment environment in Vietnam. FDI made in 2011 is estimated at $ 11 billion, equivalent to 2010 and contributed 25. 9% of the total investment of the whole society. 2. 2 Sectoral distribution of FDITable 1 | |Number of projects |Total registered capital( Mil|Implementation capital (Mil| | | |USD) |USD) | |Total |14998 |229913. 7 |88945. 5 | |1988 |37 |341. 7 | | |1989 |67 |525. | | |1990 |107 |735. 0 | | |1991 |152 |1291. 5 |328. 8 | |1992 |196 |2208. 5 |574. 9 | |1993 |274 |3037. 4 |1017. | |1994 |372 |4188. 4 |2040. 6 | |1995 |415 |6937. 2 |2556. 0 | |1996 |372 |10164. 1 |2714. 0 | |1997 |349 |5590. 7 |3115. 0 | |1998 |285 |5099. |2367. 4 | |1999 |327 |2565. 4 |2334. 9 | |2000 |391 |2838. 9 |2413. 5 | |2001 |555 |3142. 8 |2450. 5 | |2002 |808 |2998. 8 |2591. | |2003 |791 |3191. 2 |2650. 0 | |2004 |811 |4547. 6 |2852. 5 | |2005 |970 |6839. 8 |3308. 8 | |2006 |987 |12004. 0 |4100. 1 | |2007 |1544 |21347. | 8030. 0 | |2008 |1557 |71726. 0 |11500. 0 | |2009 |1208 |23107. 3 |10000. 0 | |2010 |1237 |19886. 1 |11000. 0 | |Prel. 2011 |1186 |15598. 1 |11000. 0 | Table 2 | Number of | Total registered capital( | | |projects |Mil USD) | |TOTAL |13440 |199078. 9 | |Agriculture, forestry and fishing |495 |3264. 5 | |Mining and quarrying |71 |3015. | |Manufacturing |7661 |94675. 8 | |Electricity, gas, stream and air conditioning supply |72 |7391. 6 | |Water supply, sewerage, waste management and remediation |27 |2401. 9 | |activities | | | |Construction |852 |10324. | |Wholesale and retail trade; Repair of motor vehicles and |690 |2119. 1 | |motorcycles | | | |Transporation and storage |321 |3256. 8 | |Accommodation and food service activities |319 |10523. 3 | |Information and communication |736 |5709. | |Fiancial, banking and insurance activities |75 |1321. 6 | |Real estate activities |377 |48155. 9 | |Professional, scientific and technical activities |1162 |976. 1 | |Administrative and support service activities |107 |188. 0 | |Education and trainning |154 |359. | |Human health and social work activities |76 |1081. 9 | |Arts, entertainment and recreation |131 |3602. 6 | |Other activities |114 |711. 5 | | | Table1 shows the total of foreign direct investment in each year from 1988 to early 2011 by the number of projects, the amount of registered capital and the amount of implemented capital for period 1988-2011.Table 2 gives further detailed breakdown by subsectors and by time period. As can be seen in the Table 1, the majorities of FDI inflows in Vietnam are into manufacturing in terms of the number of project register capital and implemented capital as well. Table 1, with its detailed breakdown by smaller economic sectors and by time period provides a much richer picture of the trend of FDI into Vietnam. First, within the manufacturing, while during the early part of 1990s, the majority of FDI inflows were in oil and mining sector, by the end of the last century and earl y this century, light and heavy industry sectors dominate the field. Further, while FDI in agriculture were marginal in the 1990s, now this sector account for a significant share in the total FDI both in terms of the number of projects and registered/implemented capital In the service sector, while getting smaller in relative terms, the hotel and tourism sector still remain significant. An important point is that is that in the early history of FDI, there was no FDI in many important service sectors such the construction of industrial zones, office, apartment, now these sectors start attracting significant portion of FDI inflows. 3. . Regional distribution of FDI [pic] According to official statistics by the Government Statistical Office (GSO) and the Ministry of Planning and Investment (MPI), all sixty four provinces in Vietnam have received FDI. However, the distributions of FDI across provinces are very much uneven. As shown in Figure 3, the South East region (covering Ho Chi Min h city and its surrounding provinces account for the largest share of FDI. In the North, Hanoi and neighboring provinces account for the send largest share of FDI, leaving a very small proportion for other regions.This pattern is due to the fact that Hanoi and Ho Chi Minh city are the two main economic hubs of the country. The concentration of FDI in Hanoi and Ho Chi Minh has been attributed to the increased cost of living and doing business in the two cities. This has led to a tendency that foreign investors are looking elsewhere for the investment location. In addition, the local governments in these provinces have now realized the importance of FDI and are actively attracting inward FDI in their respective regions/provinces. 2. 4 Country of origin Table 3 |Number of Projects | |Total registered | | | | | |capital ( Mil USD) | | |TOTAL |13440 | |199078. 9 | | |Of which | | | | | |Japan |1555 | |24381. | | |Korea Rep. of |2960 | |23695. 9 | | |Taiwan |2223 | |23638. 5 | | |Singapor e |1008 | |22960. 2 | | |British Virgin Islands |503 | |15456. 0 | | |Hong Kong SAR (China) |658 | |11311. | | |Malaysia |398 | |11074. 7 | | |United States |609 | |10431. 6 | | |Cayman Islands |53 | |7501. 8 | | |Thailand |274 | |5853. 3 | | |Netherlands |160 | |5817. | | |Brunei |123 | |4844. 1 | | |Canada |114 | |4666. 2 | | |China, PR |833 | |4338. 4 | | |France |343 | |3020. 5 | | |Samoa |90 | |2989. | | |United Kingdom |152 | |2678. 2 | | |Cyprus |11 | |2357. 9 | | |Switzerland |87 | |1994. 6 | | |Luxembourg |22 | |1498. 8 | | |Australia |261 | |1316. | | |British West Indies |6 | |987. 0 | | |Fed. Russian |77 | |919. 1 | | |F. R Germany |177 | |900. 2 | | |Denmark |92 | |621. 5 | | |Finland |7 | |335. | | |The Philippines |61 | |302. 3 | | |India |61 | |233. 8 | | |Mauritius |34 | |229. 2 | | |Indonesia |30 | |219. 7 | | |Bermuda |5 | |211. | | |Italy |40 | |191. 9 | | |Slovakia |4 | |147. 9 | | |Cook Islands |3 | |142. 0 | | |United Arab Emirates |4 | |128. 4 | | |Chanel Isl ands |15 | |114. | | |Bahama |3 | |108. 6 | | |Belgium |40 | |106. 7 | | |Norway |28 | |102. 4 | | | Poland |9 | |98. 7 | | |New Zealand |18 | |76. | | |Sweden |28 | |71. 7 | | Table 3 documents the distribution of FDI by investors in Vietnam. The top ten foreign investors account for around 80 percent of the total investment in terms of the number of projects, the total investment capital and the registered capital. As can be seen in the Table, the inward FDI in Vietnam was and still is dominated by regional investors. Investors from the Asian region account for 67 percent.Although, the US is a late comer to Vietnam, the inward investment inflow has increased significantly since 2001 after the conclusion of the Bilateral Trade Agreement (Parker et al 2005). For the European investors as a whole, the number of projects account for only about 10 percent, the total investment capital 15 percent and the register capital 20 percent. References : http://www. gso. gov. vn/default_en. aspx ? tabid=491 www. gso. gov. vn/default_en. aspx? tabid=491 https://www. google. com. vn/

Compensation for Wrongful Conviction

Wrongful conviction has been something that has always occurred in the court systems. For many years, prior to DNA testing, there was no way to avoid this for some people. This issue has really been one that has attracted a lot of attention. There have even been songs written about the subject such as Bob Dylan’s â€Å"Hurricane. † Wikipedia (2009, pp 1-2) refers to this situation as the â€Å"miscarriage of justice. † In the definition it states that it is the conviction and punishment of a person for a crime which was not committed by the person. It can also mean that the conviction was sentenced in a trial that was found to be unfair or a trial which had been disputed. Although wrongful convictions still do occur there are a lot of resources that are put into place so that this does not happen any more. These things have been added in order to assist the overall justice system in being able to modify issues and in being able to utilize the best and most solid convictions in order to alleviate the issues that have occurred in the past with wrongful convictions. Some have even believed that there is something that is essentially wrong with the process of the current justice system (Westervelt and Humphrey 2001 Chapter 1). There are many different theories as to why wrongful conviction has become so prevalent in the modern day society when with the advancement of technology one could argue that wrongful convictions should lessen. A lot of these issues have to do with the attitudes towards crimes and the overall attitudes of law enforcement as well as the public perception of violent criminals. The issues are that there are a lot of violent crimes that occur in society. When law enforcement is unable to find a conviction the public outcry is heard and there are a lot of problems with respect for law enforcement and the overall feeling of safety of those who are living in the society. There is then an outcry for someone to pay for the crimes that have been committed. These are especially heard when the crimes have to do with rape or murder as these violent crimes are thought to be worse than some other crimes. Law enforcement’s answer is find someone to blame the crime on in order to be able to modify how they are looked at by those in society who matter, the general public. Sadly in today’s society it is often not whether or not the right person is behind bars that give reassurance but rather it is whether or not someone is paying for the crime which has been committed. The public should be aware that the outcries and over-involvement in the catching of violent criminals has lead to the wrongful conviction of many people and that therefore it will continue to lead to wrongful conviction until there is a public outcry for justice and the involvement to find the right criminal for the crime. There are many different situations in which wrongful conviction could apply. One such situation would be where someone is not charged however they are still arrested and detained for a crime which they did not commit. Also there are the problems with someone who has charges dropped prior to trial after being detained and charged for a crime which was not committed by the person. A third way that someone could be wrongly convicted is if he/she is denied bail but then they are tried and aquitted. Some other reasons behind wrongful convictions are those who are able to have a conviction overturned on appeal but yet they have still been convicted. Another one is that the person could have been sentenced after being convicted of another crime prior to when the appeal for which they were originally arrested was heard. Finally the last reason for wrongful conviction is that there is the person who has been able to be pardoned from a crime which they are found ot be convicted of or they are able to have the conviction overturned in an appeal after having served time from the initial conviction (Hoel 2008, pp 1). The issues of wrongful conviction do not just cause problems for those who have been wrongly convicted but also for those who are working in the justice system. Judge Learned Hand once stated that he felt that he was in some sense followed by the fear that he had sentenced or convicted someone of a crime for which they did not commit. This judge recognizes that at times things are not done right and he too agonizes over the thought that he will condemn someone to an unfair fate for a crime that he/she did not commit. The criminal justice system does take precautions and they do attempt to not have these types of problems however at times they seem almost unavoidable. In the book, Presumed Guilty: When Innocent People are Wrongly Convicted the author talks about the issues with the criminal justice system and their struggle between trying to uphold the law and trying to be as unbiased and fair as possible in not handing down wrongful convictions (Yant 1991, Chapter 1). There are many causes for wrongful conviction. Some of these causes are not as bad as they have been in the past as our culture has developed and become more open minded, however they have been prevalent in the past. The main reasons for wrongful conviction have been fraudulent results or evidence, errors in eye witness testimony, and discrimination whether racial or against those who have disabilities. It has been described that the unfortunate common scene of the wrongful conviction has been that the defendant is sentenced and that around ten years later or more he/she is proven innocent by DNA evidence. Later the victim will continue to maintain that the defendant was guilty and that their eye witness testimony was not wrong. In the end, this scenario continues to hurt the wrongly accused as he/she will continue to face discrimination as those feel that there is still a problem with them and that they are still guilty. These innocent defendants not only have to live with the sacrifices of spending time imprisoned but also they have to face continued discrimination from those who feel that they are guilty, therefore some form of compensation should be allowed to those who have been wrongfully convicted in any criminal justice system (Westervelt and Humphrey 2001, Chapter 1). Overall what can be taken is that there is a connection between the beliefs of harsh forms of punishment and the death penalty and the ethical possibility that one could be wrongly convicted and deserve to be free. Some other causes of wrongful conviction were discussed in Paul Craig Roberts’ article The Causes of Wrongful Conviction. This author tries to make a connection between the strong opinions for issues like the death penalty and issues with wrongful conviction. His remedy is to work harder at ensuring that there are not problems with wrongful conviction and therefore that there is less of a need to argue and fight over the issues of the death penalty. This author believes that there is a huge injustice in the wrongful conviction and that in the end it is this and not the penalty. This is meaning that the issue of wrongful conviction first needs to be dealt with prior to the other issues with crime and punishments of these crimes. Some of the problems with wrongful conviction can be traced back to the New Deal in that the government during the New Deal put the power for carrying out the law and setting up the law in the same government body and in the hands of the same agency which is one contributing factor to these problems. Some other areas where the laws have gotten out of hand are the laws that are pertaining to the freezing of assets. These laws were originally intended to be used against those who were associated with the mob however they were expanded and it has been common for them to be applied to innocent property owners on a regular basis (Roberts 2003, pp 567-570). For some things, like fingerprinting, it is often thought that there can not be mistakes and that they can not lead to wrongful conviction however at times this could be wrong. The problems that can occur with fingerprinting leading to a wrongful conviction are very rare and for a long time were thought to be non-existent. In 2004, Stephen Cowans was found innocent from his crime by DNA evidence and it was the evidence of fingerprinting that had led to his conviction in the first place. In this case it was the mislabeling of a card with his fingerprints that led to his arrest and conviction. When ran through various tests and attempts through research on this topic it was not uncommon to have a few mistakes. The problem with this is that there were only false positives in this area (Cole 206, pp 39-50). At this time there are few resources available for those who have been wrongly convicted. There has been a lot of commentary for hundreds of years about how wrong it is for someone who is innocent to be convicted for a crime which he/she did not commit. This can be evidenced through quotations like those from Voltaire in 1774, stating â€Å"It is better to risk saving a guilty person than to condemn and innocent one,† or Sir William Blackstone, who stated â€Å"It is better that ten guilty persons escape than one innocent suffer. Yet, even with all of this information and the strong political views that have been prevalent for hundreds of years there still seems to be a problem with the justice system and one in which innocent people are convicted as guilty on a regular basis. During the 1980’s and 1990’s it became prevalent in American society that attention was drawn to cases where those who were innocent were â€Å"severely punished. † Take for instanc e the case of Isidore Zimmerman who had been wrongly convicted and served twenty four years for a crime which he did not commit. This man chose to fight for compensation and it took yet another twenty years of him fighting in order to be awarded $1 million in compensation for the damages that being wrongly imprisoned for twenty four years had caused. Sadly, this man died just four months after winning his fight. One of the largest problems with these types of cases is the fact that the victims (those who have been wrongly imprisoned) do not have a set standard of compensation which should be available to them as their lives have truly been ruined by some type of mistake in our justice system (Huff, Rattner, and Sagarin 1996, Chapter 1). The tragedy here is that this man had to fight his whole life, fight for his rights and to not be sentenced for a crime which he did not commit, fight to get out of jail and then fight for the right to compensation after his life was ruined by a wrong conviction. The people who have been wrongly convicted for various reasons have a voice and deserve to be heard on this topic and it is something that greatly affected them and continues to affect them on a daily basis. Take for instance the case of Kenny Adams who was wrongly convicted based on the fact that he had been wrongly identified. This man was bitter and angry at what he felt was a failed justice system and he was thought to be uncooperative by authorities and those who were in charge of sentencing him as he had maintained his innocence and refused to take any plea bargains which could have greatly reduced the time that he spent in jail. This man was innocent and later proven innocent by DNA evidence however he spent some of the best years of his life wasting away in one of the worst prisons in our country. He spent his time in a prison that was known for breaking down the hardest criminals and all the while he maintained his innocence and pushed through to finding a way to prove that he had been innocent. One of the main reasons that he was convicted was based on the fact that he was an African American male and there was eyewitness testimony that put three African American males and one Mexican male in the area where a young couple was raped and murdered. Maybe perhaps these were the crimes that Dr Martin Luther King Jr. as talking about in the summer of 1963 when he stated that one of his dreams was that his children could live in a country where they would not be judged by the color of their skin but rather by who they were as a person (Ciolino 2005, Chapter 1). It is still hard to imagine that there continues to be discrimination based on someone’s race in a world that is so integrated as the world today. Another case of wrongful conviction based on discrimination is that of Marion Coakley. This man was severely mentally retarded and had been convicted of rape. He was unable to cooperate or thrive in the prison setting as he was unable to understand the expectations and why the expectations were expected of him. Therefore he was in trouble a lot and was put into isolation cells and other various forms of punishment for his inability to cooperate. He had a lot of problems with basic comprehension and understanding. Marion also had a lot of built up anger in being convicted of a crime which he did not commit. He was frequently moved between various prisons and within a twenty four month period he had been moved a total of eight times. He talked often about how he felt â€Å"railroaded† into prison as he did not understand how he could be punished for a crime which he did not commit (Scheck, Neufield, and Dwyer 2001, Chapter 1). In this case it was an example of how one can be discriminated against based on a disability affecting his/her cognitive functioning. Another man who was wrongly convicted was Gary Dotson. Gary Dotson was wrongly convicted after he had been identified as a rapist by his victim. This man maintained his innocence and six years later the supposed victim recanted her testimony stating that she had falsified it all in an attempt to ward off problems with her foster parents if she was pregnant from having consensual sex with her boyfriend at the time. She claimed to be recanting to clear her conscious. The only problem was that after Dotson was released he was re-imprisoned when the judge chose to believe that the woman’s recanted statement was the true lie. Later after a national outcry the governor of IL released him still maintaining that he was guilty but saying that he had enough time served for his crime. Later it was proven through DNA evidence that he was wrongfully accused and convicted, however this was after having not only served time in prison once but twice and having to live outside of prison with the conviction on his record (Huff, Rattner and Sagarin 1996, Chapter 1). There is no current remedy available to assist victims of this tragedy. These victims are those who have been wrongly convicted of a crime, forced to serve time and later exonerated of that said crime but still having to live with all of the stigma and discriminations as if they were the criminal that they had been convicted of being. There are many different types of wrongful conviction however typically only those which are the most severe, the cases of murder or rape are brought to public attention. This type of wrongful conviction does not only deal with a specific type of crime however but there are wrongful convictions in all types of crimes. Some of the problems with there being no compensation for the victims have to do with the after effects of wrongful conviction and how this type of thing really affects the person’s life. There can be all types of issues with wrongful imprisonment and these include issues with finding employment, finding housing, interpersonal relationships and having the respect of other people. Those who have been wrongly convicted have problems with being able to find suitable employment as many employers discriminate against them. Not only do the wrongly convicted have a hard time with finding employment but they also have difficulty in finding housing. Another area where there is strong discrimination is in housing. For those who have been wrongly convicted it can be very difficult to find good housing as there are a lot of places that will not rent to those who have had convictions and even if a conviction has been overturned if it were a conviction for rape or murder there is a chance that the once accused might not be able to find housing based on this information. These victims also have a loss in their interpersonal relationships as this type of conviction can ruin a marriage and a family and at times the victim might not even be allowed to see his/her children even after the wrongful conviction is overturned. Although there are many more areas in which a person would be deserving of compensation for a wrongful conviction one of the main other reasons is that there is a loss of overall respect from others towards this person. This happens when the person does not get the respect that he/she deserves from people based on the fact that there are past convictions and therefore people discriminate against him/her (Huff, Rattner, and Sagarin 1996, Chapter 1). Part B. Wrongful convictions and the compensation thereof are all different based on what part of the world the formerly accused is living in. There are differences that are major between Australia, U. S. A. , New Zeland, and England. Each of these areas has a separate current trend in the compensation of those who have been wrongly convicted, however there are many other issues that are necessary to be dealt with as well with each country and simple solutions for each to find a way to compensate those who have served time for a crime which they did not commit. The overall goal of each country should be that there are a national standard and a set of regulations to determine the amount of help and the type of compensation that should be given to the wrongly convicted. There should be standards for this type of compensation and certain things should be taken into consideration as well. In Australia there has been a lot of research on the subject of wrongful convictions and the compensation for those who have had a wrongful conviction in the past. Some of the laws in the country are made to protect those who are wrongly convicted. In the country’s codes and amendments it is stated that there can be compensation given through victim’s rights and advocacy and therefore there might not be a need for a court hearing or legal follow up in order to ensure that the wrongly convicted are given the compensation on their own. In Australia there is right to compensation for these issues. The basic meaning of this is that there is a payment made without the legal repercussions or legal fight that would be required in other countries (Hoel 2008 pp 2-4). In the ACT (Australian Capitol Territory) there are specific codes that are used in this area. Those who are wrongly convicted have a right to seek compensation if one of the following is committed. These include that the victim have â€Å"been convicted of a criminal offense by a final decision of a court, suffered punishment because of the conviction, and had the conviction reversed (or been pardoned) on the ground that a new or newly discovered fact shows conclusively that there has been a miscarriage of justice. † The law does not have a set standard of compensation (Hoel 2008, pp 2-3). Since there are no regulatory standards in Australia at this time it is being questioned as to whether or not the government should set in place a set of standards for the wrongly convicted. In her article, Does Australia Need a Specific Institution to Correct Wrongful Convictions by Lynne Weathered there was a lot of information encouraging Australian government to take a stand and work towards an appropriate form of compensation for those who are wrongly convicted in the country. This article compares the systems and regulations in place in Australia with other countries (Weathered 2007, pp 179-186). Not only has the country of Australia been working on creating a system in place for those who are wrongly convicted but also the United States of America has been working on these issues as well in regards to how they affect the country. In the United States of America there are a lot of different factors that are been looked at in the idea of compensation for those who are wrongly convicted. Some states are working harder than others in the fight for restoring rights to those who have been wrongly convicted. One of these states is Illinois. In this state the state legislative bodies just passed a law where there is no requirement for a wait or a court trial for a pardon in wrongful conviction cases. This means that these victims are instantly pardoned from these issues and that there is an encouragement for these victims that were not there before. This new law allows for those who are wrongly convicted to be able to apply for their certificates of innocence at a circuit clerk’s office anywhere in the state rather than having to go before the governor and go through a governmental pardon trial. This was a celebrated victory for those in the United States and it gave a good format for other states and other countries in something simple that could be done for those who are wrongly convicted to be compensated in some way instantly without having to wait (Ahmed 2008, pp 1-2). Not only has Illinois made strides in working towards compensation for the wrongly convicted but so has the state of Mississippi. Another state that has really stepped up to the plate in ensuring victim’s rights when wrongly convicted has been Mississippi. In Mississippi it was passed into law that someone who was wrongly convicted and spent time in prison deserved $50,000 per year served for a total of up to $500,000. This bill was passed and justified as there were a lot of issues with the victims not being able to put their lives back together and with them having a difficult time learning how to live back in the free world again after being imprisoned and having to deal with the issues of their imprisonment (Newsome 2009, pp 1). There have been many articles and papers written on the topic of compensation for wrongful conviction in the United States however it is apparent that there needs to be more follow up incentives and better standards for the nation as a whole as a lot of the strides are on a state level rather than a national level. In her article Louise Radnofsky discusses all of the problems with there not being a unified decision among the states in the USA with the subject of wrongful conviction. She looked at cases where there was not unified decision and where the victims of the issue of being wrongfully convicted were not given any type of pardon or any help to overcome said issues. The overall standard was that these victims were not able to get any compensation unless they lived in one of the states where the compensation is available. In the end the USA should take control of this situation and there should be some type of compensation for those who have been wrongly imprisoned (2007, pp 1-3). Overall it could be argued that the United States is working on a separate state by state level to deal with the issues of wrongful conviction and compensation for the victims. There is still a long way that the country could go and nationalizing some of the state’s plans could be simplest way to putting these policies and procedures into law and helping those who need the compensation to gain it appropriately and simply. Not only are victims in the United States able to sometimes get compensation but also there are sometimes ways for those in the country of New Zealand to get compensation as well. Not only do major changes need to be made in Australia and the USA but also the country of New Zealand needs to make appropriate changes in order to rectify the ideas of wrongful conviction for those in their country. There have been extreme cases in the country of New Zealand where there has been compensation awarded to victims of wrongful convictions. In New Zealand it is possible that there have been awards made based on the amount of time and energy the wrongly convicted has put into being able to get compensated. However there is no set protocol and there have not been mandatory regulations in this area either. The cases that have been seen and heard which have been awarded money for compensation are all ground breaking and could eventually help to ensure that all of those in the country of New Zealand are compensated if they are wrongly convicted (Goff 2001, pp 1). Not only is there a stride being made in New Zealand for the wrongly convicted but also there is progress being made in the United Kingdom. In the United Kingdom it is possible for one to apply for wrongful conviction compensation through a government agency that allows for them to be able to apply for benefits and services. This is done by completing a form and sending it to the Office for Criminal Justice Reform. The decision is then made by the Justice Secretary as to whether or not some form of payment is deserved by the victim. This can mean that a decision could be made that there would be no need for the compensation and no right to it as well although it has been stated that this is highly unlikely in these situations. There are also some limitations and timelines to which the country adheres and they are strict so the victims need to know their rights and they should know that they must apply immediately to be considered for such payment (Compensation for Wrongful Conviction 2008, pp 1-2). It is unclear in the UK as to how one is supposed to learn about these programs and the right to compensation as it seems that it is not something that every wrongly convicted person has been aware of. There has been a lot of information available about the overall use of the follow up procedures and their ability to truly help those people living in the United Kingdom. In 2005 a lot of statistical data was published on this situation in order to the UK’s government to be on board for the Freedom of Information ACT 2000. In these reports it was reported that during the time period as to how many of the wrongful conviction applications were a result of HM Customs and Exise. These cases being more critical as they were entailing a lot more hardships for the wrongly convicted then other standard cases. The issues here include the fact that not all of the victims who were wrongly convicted were awarded compensation and not all of the victims applied for these compensation benefits so one could infer that there is not a lot of information available for those victims of wrongful conviction (Applications for Compensation Following Wrongful Conviction 2005, pp 1-2). Although there have been strides in many countries for those who have been wrongly convicted there is still a long way to go for them to be able to get full compensation for the hardships that they have/will face. The overall solution for those who have been wrongly convicted is a compensation to help the victim to be able to manage life on his/her own without having to face further persecution and issues that are currently on hand for these individuals. A solution for each of the above mentioned countries could be the same. It would a standardized form of follow through. There should be instant proof of one’s innocence and there should be public recants of the crimes which they were wrongly convicted for. The victim’s records should be cleared and it should be safe for them to apply for employment or housing with the persecution that would be there if they were to still have the conviction and the issues associated with it held over their heads. Another thing that needs to be done is a monetary settlement. This monetary settlement should include money for their time served in order to compensate in some way for the life that was lost while these victims were behind bars. Some of the worst parts of wrongful conviction are that the wrongly convicted are typically convicted of the worst crimes, that being the crimes of rape or murder. These wrongly convicted are then required to work out a plan for how they are to get their life back on track after having had mostly everything taken from them in an act of vigilantism on the part of law enforcement and the people in the community. This is often very hard for these wrongly convicted and wrongly accused as this past will undoubtedly follow them. Whether or not they had nothing to do with the crime the stigmas and the negative opinions of others will continue until there is some type of law in place to help assume the responsibility for helping these victims to be able to get back on their feet and no longer be wrongly subjected to these forms of harm and oppression. There needs to be a set standard for compensations and programs in place to help the wrongly convicted to be able to better their lives and themselves.

Portfolio Assignment Example | Topics and Well Written Essays - 3000 words

Portfolio - Assignment Example From traditional times, management helped in developing different process of control that would enhance in formulating as well as implementing management strategies. The principle purpose of maintaining managerial function is to develop a better understanding of the different approaches of management to formulate a strategic plan to manage business operations in a coordinated manner. In the diversified environment like the present day business scenario, dynamic planning is most efficient (Evans & Lindsay, 2012). In this context, management of organizations is observed to be effectively managing different management strategies, so that they are able to develop their organizational base and enhance the efficiency of the same. Different theorists have elaborated on the different approaches of management to develop organizational abilities to perform is a sustainable manner. These approaches of management are observed to be having a huge impact on the performances of a business. Effectiv e management of strategies helps in enhancing the productivity of an organization in order to improve the sustainability as well as profitability of an organization (Gibbins-Klein, 2001). In this regard, the assignment elaborates on the different approaches of the management that would enhance the ability of the students to perform better. The implication of the different strategies has been observed to be a part of management that influences personal development and leadership abilities of the managers. Rodrigues (2001) stated that the use of principles of management has deviated largely from its initial position owing to the changing needs in the developmental procedure of an organization. It has been noted that the principles of management have been changing according to the changing needs of the market environment. It has been identified that even though the theoretical approaches of

SEC-10K Research Paper Example | Topics and Well Written Essays - 1000 words

SEC-10K - Research Paper Example It competes with the best fashion and luxury retailers-Saks Fifth Avenue, Bloomingdales and Lord & Taylor. Fiscal Year The company fiscal year comprises 52/53 weeks. The year ends on the Saturday closest to 31st January. The fiscal year 2012 ended on 2nd February 2013 which was a 53 week year. (Nordstrom 10-K filing report, 2013) Financial Statements The consolidated financial statements of the company include the statement of earnings which shows the revenues and expenses incurred as well as the profits made the company; balance sheet which shows the financial position of the company on a specific date; statement of shareholders’ equity which shows the changes in the equity of the company over the year; and statement of cash flows which shows the inflow and outflow of cash during the year. (Nordstrom 10-K filing report, 2013) Sales Nordstrom Inc registered a strong sales growth of 9.6% on YOY basis in 2012. The company’s performance continued to impress the investors w hen the combined online and store sales per square foot reached $470 in 2012. However, the company saw its cost of goods sold increasing by 12.7% which reduced the company gross margins and signified inefficiencies in the system. The gross margin fell from 37.2% in 2011 to 26.8% in 2012. Nonetheless, the fall in margin was insignificant. The absolute amount of gross profit increased 10.9% due to an increase in the overall sales of the company. (Nordstrom 10-K filing report, 2013) The strong sales growth was tied to the strong Loyalty Program which rewards the repeat customers as well as enhanced consumer service. The company saw an increase in almost in all categories including handbags, clothing and cosmetics. The second half of 2012 saw a significant improvement in sales owing to an increase in sales of women’s apparel. Overall, the women contributed towards 44% of the total sales of the company. (Nordstrom 10-K filing report, 2013) Inventory Nordstrom values its inventory according to lower the cost or market value principle following the retail inventory method. According to this method, the inventory is valued using the pre-calculated cost to retail ratio and the value of ending inventory. In retail industry, reserves for obsolescence are also created based on the consumer demand, inventory trends as well as the changing environment (Nordstrom 10-K filing report, 2013) As leading fashion retail, Nordstrom lays a stress on inventory management to improve its margins; too much inventory increases costs and reduces the margins whereas too less inventory leads to shortages and dissatisfies customers and a negative effect on revenue. Therefore, inventory management plays a pivotal role in the operations at Nordstrom Inc. (Nordstrom 10-K filing report, 2013) The Company has been investing in increased shelf space and racks in 2012 which has led to an increase in inventory by 18.5%. Further insights into the company show that the inventory turnover reduce d from 5.56 to 5.37 in 2012 which signaled that the inventory remained on the shelves for 67 days in 2012 as compared to 65 days in 2011. Due to this reduced turnover, the company had more ending inventory per square foot in 2012 equivalent to $53.8 as compared $46.4 in 2011. (Nordstrom 10-K filing report, 2013) Accounts Receivable The management of account receivable measures the efficiency of the company’s operations and management team. The days’ sales outstanding of the company declined to 65 days in 2012 from 70 days in 2011 despite an increase in the receivables

Islam in Business Essay Example | Topics and Well Written Essays - 3000 words

Islam in Business - Essay Example Fiqh muamalt is the study of financial and economic transactions from an Islamic outlook which is a branch of Islamic jurisprudence that is related with commerce and residual economic activities. For Islamic economic concepts, Arabic phrases are employed and shariah compliant financial products are very popular in the Islamic business circle. Shariah offers guiding norms for day-to-day living for a Muslim but following the same is a matter of belief and conscience and not of enforcement by governments. In the majority of the Islamic nations, Islamic banking is only a matter of preference and the only Muslim country in the World, i.e. Iran has made rules that all banks must adhere with fiqh muamalt under Usury Free Banking Law that was introduced in 1983. Fatwa refers to the rulings given by Shariah scholars and these are given through reasoning by scholars and endeavoring to apply fiqh to present financial and economic transactions and this process is known as ijtihad and in real pra ctice, this needs interpretation of contractual deeds concerning financial transactions and economic activities and making sure that it is unfailing with shariah. (Wilson 177). This research essay dwells into how Islamic practices apply in business, economics and banking (commercialism, profiteering, loans & interest, partnerships, etc) and how Islam dictates one conducts oneself in business in a detailed manner. Islam and Business Muslims are permitted to engross in trade and business as long as it is lawful and not detrimental to either society or the economy. Islam also permits to acquire wealth through business and however, a Muslim should not have any pride in his wealth. Further, in Islam, greed and miserliness are regarded as sins. A Muslim is considered to be only a temporary guardian of any wealth that he acquires as all wealth is the belongings of Allah. Islam expects that business is run on the moral principle, and it shuns fraud, dishonesty, misrepresentation and deceit in business. Dealing in illegal goods (haram) is prohibited in Islam. Islam also prohibits lotteries. Gambling and business linked with distribution and sale of alcohol. The following are some of the prohibited business activities under Islam. Price manipulation Price gouging and Hoarding by artificially reducing supply of products, especially food products. Government price control initiatives except in some unavoidable scenarios. Interference in the free markets Buying stolen property Cultivating plants like hashish and poppy and raising pigs. Business profits that are generated through halal (legal) business activities are permitted and not any haram (illegal) business activities. A Muslim is needed to respect his business debts. (Khan 1999). The fundamental principle is that Muslims are permitted to purchase whatever he needs like products that Allah has allowed from both Muslims and kaafirs. It is to be noted that Allah himself purchased products from the Jews. However, if a Mu slim avoids purchasing goods from another Muslim for no good reason like bad products, high prices or deceit goods , then that will be considered as harram. Doing business with Kaffirs mean reducing business with the Muslim and thereby obstructing Muslims to sell their products or to make the success in their business efforts. (Abdul -Rahman 7). The one who proscribes the goods of the Kuffaar mean that they are waging an endless war with the Islam, intending thereby to manifest the truth

Cell Sat Essay Example | Topics and Well Written Essays - 4000 words

Cell Sat - Essay Example Calls whose orbits are a lot of times higher than normal satellites, are also known as geosynchronous satellites, offer no time delay in the voice and almost no echo effect. So to achieve this satellite phone will be using Low Earth orbiting satellites. CellSat will be designed on path diversity architecture which offers overlapping satellite coverage, so that any call can be made available to be handle from many satellites in any location. This will result in fewer dropped calls. Motivation is any need that an individual seeks to satisfy. Before becoming a motive, it has to have intense stimulation or arousal. The motives are classifies as biogenic and psychogenic needs. Biogenic needs are need for drinks, sex and bodily comfort. Psychogenic needs are psychological needs which are also known as secondary needs, such as the need for nurturing, independence and achievement. Motivation can also be described as wanting like someone, which is why companies hire celebrities so that the consumers can be attracted towards them, and be motivated to buy that product. For instance David Beckham appeals to the youngsters and he is a brand ambassador of a lot of products. It is because of him that people buy the products, may be because they want to be like him. It is one of the psychogenic needs (Stein)Companies around the world spend billions of dollars for making a tagline and the right message for their products since motivation and perceptions influence consumer beh avior in many ways. For a consumer market, anything can be a motivational factor. Like promoting a product through celebrities, is one of the most important motivational factor these days.. For any market, especially the UK market, Celebrities likely David Beckham can be a lot appealing to the youth market while those like Stephen Fry appeal to the more scholarly and discerning people. It is a

Eroding Local Control & The Influence and Climate of the Courts - 8 Essay

Eroding Local Control & The Influence and Climate of the Courts - 8 - Essay Example In a state where white flight is particularly prevalent, such as Texas, this disparity can cause massive difference in the amount of money spent, per pupil, in different educational districts, if each county is divided into many districts. Wealthier areas will thus provide more money per pupil, because the average property value per pupil will be higher, than other districts where those values are lower. This can create massive disparities in the facilities available – children of wealthy districts will get excellent gyms, music programs, laboratories and so on while children in less fortunate areas will get few if any of those things. Reducing the total number of districts in a state can correct for this problem by pooling money from wealthy and less wealthy areas together, reducing the disparity between money spent per pupil. Wealthier areas will still have advantages in terms of outside fundraising, but this can be diminished if districts are larger and more diverse. 2. The case in this Tennessee county is one of optimal size and scaling of costs. There are some costs that cost progressively more as the size of something increases (for instance, the larger the diamond the rarer it is, so a diamond that is twice the size of another one will often cost four times as much), while other costs go down (for instance buying products in bulk can reduce prices). As payroll is one of the most strenuous costs of school districts (Brimley et. al., 2008), the situation described here has some financial pitfalls, because some levels of administration will be repeated. For instance, the curriculum needs of each individual school district is probably very similar – it would be difficult to believe that students in one section of a Tennessee county need to learn different things from those in another, so that level of administration could be combined easily at significant savings. Furthermore, the upper echelons of administration would also not need to be

Business cycle Essay Example | Topics and Well Written Essays - 1250 words

Business cycle - Essay Example The business cycle occurs in five distinct stages, which include growth, peak, recession, trough, and recovery. Whenever the business cycle is at recession, the business general, economic performance is bad (Elwell 123). In fact, it results to adverse economic elements such as inflation, unemployment, losses to corporation, and decline in investment levels. On the other hand, period of growth and peak are desirable in that they are characterized by strong economic signals such as high employment levels, price stability, profitability of firms, and high investment levels. It is therefore, preferable that the economy operates on growth or peak season. Three key economic variables that characterize a business cycle Economists have unearthed three causes of a business cycle, which include employment, inflation, and interest rates. During trough or recession period, the interest rates are high, which means that the cost of acquiring capital for investing is business is high. This, therefo re, implies that less people are taking up loans for investment. With investment levels low, the unemployment levels in the economy will go down. As such, trends continue to soar; the overall effect is that the economy may go into a trough. In order to revive the economy from such adverse trends, the government usually comes up with expansionary policies such as increasing public expenditure as well as reducing the rate of capital to encourage investment and reduce the unemployment rates. The other factor that characterizes the business cycle includes the issue of inflation. During the times of recession or trough, the economy is characterized by price volatility. The price of goods and services usually go up making life difficult for the majority of households. Whenever, the economy has high prices, the business cycle is affected negatively implying indirect relationship between inflation and business cycle. The other factor that affects business cycle is the issue of productivity. During peak and growth period since the economic cycle, the economy is always characterized by high productivity. Hamilton (119) says that it is important that government of the day and the management of various businesses put in place deliberate measures to ensure productivity through quality education and training, investment in infrastructure, and better government policies that encourage productivity. The good business environment in developed economies such as United States of America examines why their economy is rarely affected by adverse economic cycle such as recession and trough. Characteristics of Recession Economic pundits refer to recession as a period exceeding two quarters in which an economy is grappling with a negative trend in GDP. The major characteristic of recession is a reduction in investment spending. During periods of recession, the interest rates are always high which in turn results to increase in cost of capital (Smiley 221). Increase in cost of capital makes it very expensive to service loans hence less money is available for investment. The other critical characteristic of recession is high unemployment rate. During recession, the level of

LOGBOOK Coursework Example | Topics and Well Written Essays - 500 words

LOGBOOK - Coursework Example The material was a full two paragraphs and it was written very well that I wished to impress my lecturer. All I did was copy and paste the work into my paper. I also changed the font so it could match with the rest of the report and continued my research. Reaction and Analysis A week later after submission, some students were called by the professor to his front and I was perplexed to hear my name. While standing in front of the class, the professor called us thieves who were lazy. On top of that, he failed us and we had to redo the paper once again. He explained about plagiarism. He stated it as a lazy way of stealing other peoples’ ideas. He explained that when u use somebody else’s’ work directly through copy and paste, that is the worst crime that anyone can commit. I did not know about plagiarism before but I do now and it was a lesson well learnt Log 2 Location: Kuwait Date: 23rd January, 2009 Occupation Student Overview A new migrant to the UK, I took time to make friends at school. My self esteem was affected as I went into a state of denial and withdrew myself from everyone considering that the mode of dressing and way of communicating was in the UK was not what I was used to. Reaction/observation I felt that UK residents were harsh whenever my new friends said straight no’s to some of my suggestions. Some students discriminated against me.

Problems of students Essay Example for Free

Problems of students Essay Top 10 Problems of Students While time spent at college is a fond memory and a happy experience for most, college life is not without its rough patches and problems. While each person problems are unique to their current circumstances, I know that there are a few problems that almost all college students deal with at least once during their time at school. College is not high school so please do not think its a walk in the park. Depending on what type of school you are going to, depends on what kind of problems you are going to face. Certain problems, you going to face regardless of what type of school you are going too. Most common problems of college student are the following. 1. First Day of School ? University students also face problems with making new friends. University is a new chapter in life, and with every new chapter, we have to try to meet new people and make new friends. It is normal for people to feel shy in the beginning, especially when they don’t know anyone around them. Students should learn to step out of their comfort zones and put themselves out there when trying to make new friends. It always seems that people are always just waiting for someone to approach them because they are too shy to make the first move. So, why not try taking the first step, and maybe you’ll find yourself heading towards a really wonderful friendship. 2. Relationship Thingy! Another problem we often hear students talk about are relationship problems. University students are usually at the age where they are looking for someone to share their lives with. We hear many stories about students getting into a relationship too quickly, and things going sour because both parties didn’t know each other well enough as friends. Maybe we should accept some advice from the older generation when they always say that we should always strive to get to know a person of the  opposite sex as a friend, before deciding if there is anything more to pursue with the person. There seems to be very little success rate when rushing into a relationship with someone we do not know well enough. 3. I’m so stress. . When a person faces any type of problems in their daily life, we will definitely find that the person is under high amounts of stress. This applies very aptly to the life a university student. Students are very susceptible to stress when they have any of the above mentioned problems. One good way to deal with stress is to exercise. Exercising helps release endorphins which is a hormone that helps our body relax and feel good. Students who exercise seem to be able to handle stress a lot better than those who do not exercise. 4. Problem everywhere -. The unavoidable problem that students will have to face is problems with their studies. Whether it is a topic that is very hard to grasp, a misunderstanding with a group mate, or just not knowing how to do the work given to them, students will definitely face these sort of problems. It appears that when a student faces these sort of problems, they like to just keep it to themselves, or complain about it to their peer. The solution to these sort of problems is to address it and bring it up to the lecturer, or ask a friend if they can help you with it. Rather than just complaining that they do not understand what is going on, they should seek assistance to help solve their problem. 5. Still Sleepy \^o^/ Many students also suffer from irregular sleeping patterns. Students have assignments, projects and deadlines that appear almost daily after each class. A lot of them spend their time doing all those assigned work during the hours that they are supposed to be asleep. Some of them claim that they work better at night, but it is a  very unhealthy habit. It would be good if students could learn to finish up their work in the day time and leave the night-time to sleeping as that is the time where your body is regenerating, mending, and creating new cells. There is a discipline that should be built into a student when it comes to assignments. They should try their very hardest not to leave their work to the last possible minute. 6. My Hectic Schedule -. Another problem that university students face is poor time management. Due to their busy lifestyles, students often find it hard to find a good balance between their  studies, social lives and working lives. Students should strive to have a planned schedule for their day so that they can try to maximize their productivity and not fall behind in any aspects of their lives. Students often have to learn to be independent and responsible with managing their time, when in university, away from the direct guidance of their parents. 7. Why you’re so Slow Internet? _ With most universities and colleges making use of technology, it’s always an instant heart attack for you when it’s time to enroll in classes and check grades. To  make matters worse, everyone else is trying to access the website of your school hence the slower loading of the page and also in doing assignments and projects. You end up holding your breath while your heart attempts to break free from your body. The struggle is real! 8. Suspension Abangers *. * You stay up late at night and refresh your Twitter account every minute to see if there are suspension announcements. You wake up early in the morning with high hopes of class suspensions because the rain is too strong. You wait, and wait, and wait. You struggle with the thoughts of facing the storm or continue hoping for a class  suspension. You end up going to school anyway; but just as you’re finally at the end of your storm challenge, the suspension you’ve longed for comes and then you just stare at an empty space and mentally flip all the tables in your school. 9. Lack of Confidence There are students who do not believe in their ability to do well in college. Rather than focusing on their abilities and what they are capable of achieving, they place more emphasis on what they feel they can’t achieve. If you tell yourself, â€Å"I’ve always been lousy at math, I am going to fail this course,† then chances are, you probably will. 10. Commute line Don’t you hate it when you wake up early and leave early, but still end up being late for class because of those horrible commute lines? It’s definitely extremely frustrating when you arrive at the terminal or station only to find out that the end of the line is nowhere in sight These are just ten of the many problems that college students face. In the end, is college worth facing these problems and struggles? While students get stressed to the max, the good times outweigh the problem times and the college experience becomes one which shapes the minds and futures of many young people worldwide.

Consumer Influences and Behaviour: UK Banking

Consumer Influences and Behaviour: UK Banking Chapter 1 (Intro) 1.1 Introduction To become the leading international bank HSBC has combined the emerging markets through international connectivity and scale yet maintaining the strategy unchanged. To comply with the recent economic turmoil HSBCs strategy is apparently most appropriate one as the projected the return of total shareholders equity remains achievable over full business cycle. Reinvestment of the capital allowed the company to maintain flexibility of direction in accordance with financial and regulatory environment. This can help the company to make the long term decisions supporting the brand values and the customer relationship and the growth to be consistent with the strategy. The ‘Managing for growth a diverse evolutionary strategy ranging from 2003 to 2008 for HSBCs growth and development across the globe addressing the areas where desirable and attainable improvement can be made; was an ultimate success. Unlike competitors, the consistent approach to grow within the emerging markets HSBC did not have to dispose any stakes in strategic investments to generate capitals. Depending on the customer demand and maintaining the strategic line while reviewing the emerging new opportunities, HSBC has successfully survived in the period of uncertainty. The company has increased the number of HSBC Premier Customers to 2.9 million, and the customer volume is increasing highly in the emerging market. During financial crisis and economic recession the global financial markets have suffered a serious impact. Very few banks have escaped unharmed by adjusting to shifts in the global financial and economic environment. Market entry timing decisions are inherently difficult. A firms managers need to consider the influence of so many factors both internal and external to the firm in deciding when to enter a market with a new product (Lieberman and Montgomery, 1991). Firms face a particularly difficult decision of planning when it is best to enter a market with a new product in response to a market introduction of a pioneering new product by a major competitor. Given that pioneering is no longer an option, is it better for the firm to enter the market quickly with a competitive new product or is it better for the firm to delay market entry for strategic reasons. When the competitive stakes are high, it is clearly in a firms best interest for its management to plan carefully such a market entry timing decision by giving careful consideration to a broad array of information including information on the competitor, the competitors product offering, the market, and the firms internal resources and product offerings. Considerable academic research has been conducted that suggests the desirability of certain market entry timing strategies for a wide array of conditions in the competitive environment (cf. Bowman and Gatignon, 1995; Brown and Lattin, 1994; Green et al., 1995). The business world composed of organization and work becoming more demanding and wild. Facing organizations are now facing so many challenges. Among them globalization, customer awareness, higher revenue with minimizing the operational cost, strengthening the organizational capacity, renovation and change, technological implementation, maintaining diverse human capital, and confirming essential and constant change. Fortunately the degree of competition among industry rivals has significantly increased. Now most of the organizations can easily duplicate technology, industrial methods, production, and even strategy. To gain the competitive advantage in the long run, business houses need to establish their own organizational capability (Burke Cooper 2004). 1.2 Background of The Study HSBC is a prominent name in the global banking industry. This bank has been operating successfully all around the world as a local bank with its efficiency and effectiveness. The integrated strategy of HSBC and on time decision made it becoming a threat for other long lived bank in the industry. The strategy the bank had followed make it to cope up with all sorts of cultural barriers and to be along within the society and create the better brand value compare to the other rivals in the banking industry. The reason behind the on-going prospect of this bank is due to a reason which made is to gain the competitive advantage in the global money and investment market. Lately the economic crisis hit the global money market and retail banking industry injuring the performance of all the major players in the industry as the confidence and the trust of the customers were gone. 1.3 Rationale This study is a requirement for the course I am enrolled in. This study will help me to utilize the acquired knowledge/theories and relate them to the applied business. The title was chosen as banking industry is one of the diverse industries and UK is one of the most competitive markets where the industry rivals constantly changing their strategies to adopt with the change and HSBC is one of the best performing banks in it. With the establishment of the purpose given, this study may be of importance to the purpose that have been discussed by fulfilling the objectives, the study will be helpful for researchers focusing on different strategies and innovative techniques with regards to the method of gathering the information. The findings of the research will be helpful for researchers in creating their own means of conducting their study. The significance of this study is the option that it may contribute the findings for the other studies that wish to examine factors for the success or failure of a study. Another importance of the report is to serve as a director for researches that emphasis on defining the effects of an integrated marketing strategy which made HSBC successful in the UK banking industry as well as globally. 1.4 Aim and Objective of the Study The aim of the research to find the answer to the research question â€Å"How can HSBC Continue to Maintain Its Competitive marketing advantage in the UK market?† The objective of this study is to identify the reason behind the success of HSBC and the challenges the company may face in future and the potential strategy the company may follow so that it can maintain its leading position in the UK retail banking industry. So, the prime objectives of the study are as follows: To identify how HSBC operates and what made it unique besides others To identify the attitudes of the UK customers towards HSBC. To identify the attitudes of the company staffs towards existing marketing system. To identify the shortcomings (if existed) of the Strategy being adopted by HSBC To identify the most effective strategy appropriate for HSBC in response to the current financial crisis in UK. 1.5 The Organization of the paper: Unlike the conventional approach this paper is furnished with the industry analysis focusing on the UK banking industry in term of its performance, effective factors leading HSBC to become more successful, the changing switching tendencies of the customers, role of the SMEs in the industry and an overview on the investment criteria in the money market. The study will initially gather information that will serve as introductory part of the study. The study will then gather related literature to prove the need for conducting the study. The literature review can help in determining what are the studies already done, what study needs to be corrected. The study will then determine the methods and means for data to be gathered and analyzed. In this part the data is being readied to be gathered and analyzed but the method to gather it will first be determined. The next part of the study is gathering, presenting and interpreting the data. In this part the validity of the hypothesis and ideas about the study will be proven. The last part of the study will be the part where conclusions and recommendations will be stated. In this part final statement about the study will be done. The study will be organized in accordance with the following order Chapter 2(Literature Review) According to Porter (1985) it is the value chain through which a company can create and offer value to its customers by efficiently utilizing costs and effectively offering the product or services through a lower cost or a higher differentiation. Again Rajnandan (2007) said value chain not only seeks to do away with the activities that do not add value, but establishes the importance of other support activities, including infrastructure, technology, and so on, that play a vital role in providing the foundation for competitive advantage. The value chain also is useful in outsourcing decisions. Understanding the linkages between activities can lead to more optimal make-or-buy decisions that can result in either a cost advantage or a differentiation advantage. (Graeme J. Buckley, 2006) After defining the discrete activities marketers need to identify the linkages between activities. The relationship survives if the performance or cost of one activity affects that of another. Competitive advantage may be obtained by optimizing and coordinating linked activities. (Porter, 1985) The developed opponents expected strategy, where it participates in the marketplace, how it competes, and what it tries to achieve, should be distinct from any strategy pursued by any rival. Those executives charged with visualizing the developed rivals strategy should also be encouraged to go beyond the likely strategies of announced. It is necessary to communicate the competitive variables to the target market as that will force the buyers to prefer the products. Where marketing communications carries the meaning of the companys product attributes, aiding customers reach their goals and moving the company closer to its own goals. (Lancaster, 2002) Marketing efficiency depends on communications effectiveness. The market is activated through information flows. The way a potential buyer perceives the sellers market offering is heavily influenced by the amount and kind of information he or she has about the product offering, and the reaction to that information. Marketing, therefore, relies heavily upon information flows between the seller and the prospective buyer. (Thomas A. Staudt, Donald Arthur Taylor, 1976) The firms value chain links to the value chains of upstream suppliers and downstream buyers. The result is a larger stream of activities known as the value system. The development of a competitive advantage depends not only on the firm-specific value chain, but also on the value system of which the firm is a part. (Kiichiro Fukasaku, 2007) Dramatic changes due to globalization, deregulation, and technology have redefined the nature of business by increasing competition. Significant increases in the speed of competitive response and the number of competitive actions and price cuts have also resulted. Those indicators highlight the intensity of competition. (Gr, Cu, Le, Hu, Ken G, 2005) Unlike the classical concepts, the marketing concept states that the nature of the marketing orientated organisation, whether product or service based, profit or non profit based, is the identification and genuine satisfaction of customers needs and wants, more effectively and efficiently than the competition. The marketing concept has been defined as ‘the key to achieving organisational goals and the marketing concept rests on ‘market focus, customer orientation, co-ordinated marketing and profitability. (Le, Ru, Lancaster, 2002). ‘Marketing Research is a systematic problem analysis, model-building and fact-finding for the purpose of improved decision-making and control in the marketing of goods and services (Kotler, 1999) Strategic capabilities that companies can use to support the strategy they have chosen to pursue. A strategic capability offers a company a sustained competitive advantage when substantial time and effort is required for competitors to develop the same capability. (Susman, 1992) Game theory more specifically, non-cooperative game theory can be a useful tool for investigating a comprehensive model of competitive advantage in that it demonstrates the linkages between resources, competitive moves and responses, and advantage. (Gr, Cu, Le, Hu, Ken G, 2005) The ability and speed with which a company can learn from experience is another strategic capability. The ability to learn is dependent, in part, on how the company captures and accesses information. Companies can simplify this process by minimizing the amount and complexity of information they have to process. (Susman, 1992) Only by gaining a deep and comprehensive understanding of buyer behaviour can marketings goals be realised. Such an understanding of buyer behaviour works to the mutual advantage of the consumer and marketer, allowing the marketer to become better equipped to satisfy the consumers needs efficiently and establish a loyal group of customers with positive attitudes towards the companys products. (Lancaster, 2002) Competitive advantage is a way of firms gained advantage over its rivals. Competitive Advantage introduces a whole new way of understanding what a firm does. Competitive Advantage takes strategy from broad vision to an internally consistent configuration of activities. Its powerful framework provides the tools to understand the drivers of cost and a companys relative cost position. Competitive Advantage also provides for the first time the tools to strategically segment an industry and rigorously assess the competitive logic of diversification. (Porter, 1998) The design stage determines the way in which a firm intends to differentiate its good or service from rivals. In this stage a firm makes choices to gain a competitive advantage over rivals. (William, 2004) For a single product or narrow group of products, a firms competitive strategy refers to the weighted mix of price, product qualities and features, and service that differentiates its product from those of rivals. (William, 2004) The Competitive Advantage model of Porter learns that competitive strategy is about taking offensive or defensive action to create a defendable position in an industry, in order to cope successfully with competitive forces and generate a superior return on investment. According to Michael Porter, the basis of above-average performance within an industry is sustainable competitive advantage. There are 2 basics types of CA: Cost Leadership (low cost) and Differentiation. The Delta Model contains the following elements: Strategic Triangle: used for defining strategic positions that reflect fundamentally new sources of profitability (three strategic options: best product, customer solutions, and system lock-in), Aligning these strategic options with a firms activities and provides congruency between strategic direction and execution (three fundamental processes are always present and are the repository of key strategic tasks: operational effectiveness, customer targeting, and innovation), and Adaptive processes: core processes of the company must be aligned to the chosen strategy in order to make progress against the strategic agenda and avoid a commodity-like outcome. 2.1 The Trends (Customer Focused) E-trading and online customer services are becoming the key differentiators in every industry. The banking industry in the midst of a shift assisted and backed by the rapid technological advancement, internet and globalization. The transition is not an incremental one through which organizations, processes, and technologies evolve in linear fashion into more advanced, but still familiar models which is distinct from the earlier industry change. Industry observers anticipate that this transition will be much more radical and constitute a complete metamorphosis of bankings entire business model, realigning everything from its strategic business orientation to its technology architecture to its value proposition to its customers. (Balthasar, 2010) 2009 is a significant year forcing many private banking experts to remember. Privet funds failed to generate revenue as clients withdrew assets from private banks. The global financial crisis has fundamentally changed the investment pattern of the High Net Worth Investors and their wealth management business itself. Growing Market ‘Many â€Å"new money† acquire their wealth through IPO. Brazil and China accounted for two-thirds of global capital raised in Q2 2009 (Ernst Young, 2009) showing that there is a growing demand for private banking and wealth management service in the region as the economy is rapidly growing. Chinas growth will outstrip US which is a good news for private banks who have a strong APAC presence, wealth management professionals should understand that the Chinese market is not easy to penetrate. First of all, client advisors need to be fluent in Mandarin and have local connections. Secondly, guanxi (relationships) still plays an extremely important role in the modern Chinese business community, private bankers without access to key relationship brokers as references will find it very difficult to convince Chinese HNWIs to open accounts. Private banks that hire locals will have a definite advantage over expats trying to cover Chinese clients. (Warren Buffet, 2009) Responsible lending Affordability assessment approaches vary across the industry. Responsible lending decisions require checks to be made concerning income and outgoings (typically using a combination of income multiples and affordability models) when assessing ability to repay now and into the future. Also the type of lending undertaken and the type of borrower (for example, applicants with impaired or low credit ratings) may require more detailed assessments to be carried out. Other (unregulated) lending Mortgage lending is only part of the affordability picture. Under the auspices of Treating Customers Fairly (TCF), affordability assessments are equally relevant to other borrowing, including personal loans and credit cards, and a number of lenders are looking at how their affordability assessment processes may need to be strengthened for these types of credit. In an effort to strengthen existing rules, new Banking Code guidance concerning assessing affordability in relation to unsecured loans (overdrafts and other borrowing) was issued by the Banking Code Standards Board in April 2006. Any assessment should now include at least two of the following: Income and financial commitments Repayment history Credit reference agency information and past repayment history Credit scoring. It is also worth noting that the Office of Fair Tradings recent guidance (‘the OFT Guidance) reinforces the need for firms to have regard to its earlier guidance on non-status lending and confirms its intention to consider further specific guidance with regard to irresponsible lending and what this may mean in different market sectors and circumstances. Responding to the concerns The FSA has indicated that as part of its retail agenda it will continue to focus on quality of advice processes in the mortgage market. In responding to these concerns, firms will wish to consider how the results of the FSAs findings impact each of their lending businesses: How extensive is the affordability process; does the advice process include an assessment of income and identifiable expenditure; anticipated changes in personal circumstances (income/expenditure composition); impact of interest rate changes and possible future increases in interest rates? How can the consumer deal with mortgages extending into retirement? What steps are taken to ensure that underwriting processes (including income multiples and affordability models) reflect the different characteristics and risk profiles of customers in different market sectors (for example, sub-prime; non-conforming)? Is the recent assessment carried out to identify the affordability (including affordability decisioning models) to meet the regulatory as well as commercial drivers impacting the business? What steps are taken concerning the assessment of the customers ability to repay where ‘enhanced income multiples are used (and where the firm may have insufficient, or outdated, data to measure the potential impact/risks of default)? What MI does the consumer have to facilitate the identification of affordability issues on a timely basis (for example, the performance of loans where ‘enhanced multiples have been applied; at the end of any discount period; the level of arrears and repossessions; lending introduced by intermediaries)? Even for long-established product offerings, it is clear that nothing stays still. Aside from regulation by the FSA, the market still needs to respond to the challenges of competition investigation into the PPI market. Household Leverage: In the years leading up to the crisis, a combination of factors, including low interest rates, lax lending standards, a proliferation of exotic mortgage products, and the growth of a global market for securitized loans fueled a rapid increase in household borrowing. (Shedlock, 2010) ‘The recent financial crisis contributed to the longest and most severe economic contraction since the Great Depression. The rapid expansion in the use of borrowed money, or leverage, by households in recent years, is one factor that may help account for the virulence of the downturn. (Shedlock, 2010) ‘The common patterns observed across countries suggest that, the unwinding of excess household leverage via increased saving or increased default rates could be a significant drag on consumption and bank lending going forward, possibly muting the vigor of the economic recovery. (Shedlock, 2010) 2.2 Changing Nature of Consumer Behaviour (Higher Expectation) ‘Customers take control. Customers will be smart, informed and savvy users of financial services. They will only be interested in service providers that can meet their very specific individual needs. (CMA Management, 2006) Global banking leader for the Institute for Business Value, each bank must decide on a strategy that fits its customers needs. Banks will need special strategies to cater to a far more discerningand controllingcustomer. Innovative approaches to business design, customer service, workforce management and IT will be critical to banks future success. (Sunny Banerjea, 2009) Banking customers will demand more advocacy, personal security and control in their banking relationships Banks will source products and services from many specialized and best-in-class service providers, including independents and other banks providing white-label products and services. Innovation in products, processes, relationships and business models will be the primary path to sustainable growth. Furthermore, the modern banking industry has brought greater business diversification. Some banks in the industrialized world are entering into investments, underwriting of securities, portfolio management and the insurance businesses. Taken together, these changes have made banks an even more important entity in the global business community. 2.3 Globalization (Intense Competition) ‘By 2015, we will live in an intensely customer-centric market that is dominated by global mega banks and densely populated by specialist financial services providers. Fierce competition, global regulation and technology will reshape bank and non-bank structures. (Rusty Wiley, 2009) Banking is moving incrementally but unmistakably away from a model based on products, transactions, touch points, and internal departments toward one based on customers, processes, integrated experiences, and the enterprise-wide value of information. The new strategic centre is not an institutions asset size, market share, revenue growth, or operating efficiency, but the â€Å"customer experience† the institution provides to consumers. Whether a seismic departure in focus or simply a more pronounced emphasis on an existing strategy, many banks have decided this is their destination. Many countries are now more alert after so many scams including The Bernard Madoff $65 billion Ponzi scheme exposed in 2009. To minimise and control the false trading activities and tax evasions, governments worldwide demand more oversight of banking operations influencing not only the investment banking business but also the private banking side. The account opening process, KYC and offshore banking activities are under tighter scrutiny than ever before. As a direct result, banks have to spend more money on compliance and risk management. (Investment Research, 2010) Banks no longer think in terms of selling products and making transactions, but rather in terms of acquiring, satisfying, and retaining customers. They are realigning their system architectures to recognize, integrate, and monitor business processes that span departmental boundaries and consider customers from a company-wide perspective. The resulting systems provide customers with tools to conduct their own banking business on their own terms, in their own time, and through whatever channel they happen to access. (Balthasar, 2010) This shift in strategic focus has already had a profound impact on the way that bankings role and value to its customers have evolved, leading to the second feature of the industrys transformation, which is that banking is no longer seen as purely a financial transaction, but rather in a broader and more significant way as a financial information business. This distinction may sound like splitting hairs, but the eventual effect on the banking industry will be nothing short of transformative. To better adapt and accommodate this shift successfully, banks will have to recon and upgrade their entire IT infrastructures. The excellent international reputation and the $300 billion private banking assets the region currently manages, the Singaporean government is aggressive in making the country more attractive to private banks and HNWIs worldwide. Singapore officials are planning to amend the Income Tax Act, which is likely to help the country to make Organisation for Economic Cooperation and Developments â€Å"white list†, further establishing itself as Asias private banking stronghold. (Wall Street Arrow: Market Insights, 2009) The competitive pressures that have squeezed the banking industry for the past decade show no sign of letting up, principally due to the banking industrys continuing consolidation. (Balthasar, 2009) Many industry analysts are expecting another round of large bank merger announcements, with the additional element of international banks involved in cross-border mergers. We have seen the beginnings of that trend already in Europe, with the acquisition of Abbey National (U.K.) by Santander (Spain) and the protracted dispute between Dutch bank ABN AMRO and another Spanish bank over two Italian banks. One important ramification of the continued growth of leading banks will be their ability, based on their sheer size and higher efficiencies, to invest in world-class data storage, management, and analytical capabilities, thereby extending their dominance by the development of innovative revenue-generating products and services. The transition to banks as primarily an information source has helped lower the barriers to entry in the financial services industry, opening the banking arena to a host of new, non-bank players. The current alarm among banks and their regulators about Wal-Marts efforts to obtain an industrial loan company (ILC) license in Utah is the most visible manifestation of that trend. 2.4 Technology (Customised Service) Sharply focused technology. The enabler of all this change will be technology that supports rapid, accurate decision making and greater operational flexibility and efficiency. The successful specialists will be those who can track and analyze specific customer needs and speedily meet them with profitable, reliable products. (CMA Management, 2006) The global trend of deregulation has opened up many new businesses to the banking industry. Coupling that with technological developments like internet banking and ATMs, the banking industry is obviously trying its hardest to shed its lackluster image. (Investopedia, 2010) The major force driving banking transformation stems from the increasing commoditization of financial transactions. Banks can no longer distinguish themselves on the basis of product set functionality or operational excellence. Commercially available systems have perfected virtually all the important functions in basic transactions, including payments, deposits, funds transfers, and account reporting. The maturity of technology in these areas has made both functionality and pricing nearly uniform among leading vendors. The sheer volume and scope of regulatory requirements has imposed on banks an unprecedented need to develop transparent systems and processes, along with more effective and reliable means for collecting, storing, and manipulating information. Going forward, banks will need to develop an approach to their IT infrastructure that places a premium on flexibility, adaptability to rapidly changing market circumstances, and the ability to integrate information from multiple sources currently isolated from each other. The competitive landscape has also shrunk considerably. In June 2008, there were 46 lenders offering unsecured personal loans, down from 58 in June 2007, however, by June 2009 this number had dropped further to just 37. The real value proposition that banks offer now is in the information they can provide about financial services and transactions, from a perspective of accessibility, speed, convenience, granularity, analysis, and so forth. In other words, the important question to ask banks now is â€Å"how quickly, accurately, deeply, efficiently, transparently, and finitely can they capture, parse, store, identify, access, retrieve, sort, match, analyze, aggregate, present, share, distribute, and protect data?† Therefore, leading banks are basing new technology strategies on transforming and enhancing their command of information. Although they already sit atop vast amounts of data about their customers, banks in many respects are unable to identify and/or retrieve it with any degree of precision. With bankings future growth and profitability dependent on the ability to aggregate information across systems and reorient it by customer instead of product, technology spending decisions will he nceforth be guided by how well a proposed solution furthers a banks command of information. (Balthasar, 2009) Data management The command of information should be incorporated it into technology development by the vendors allowing them to capture (automatically as much as possible) descriptive and associative information about customers, transactions, and workflow circumstances as distinct data fields; to identify, access, associate, aggregate, sort, and display data from disparate sources; to exchange, transfer, compound, and deconstruct data freely across system boundaries; to normalize, integrate, and analyze that data for a specific purpose and for a specifically designated market segment; to drill down and parse data into ever more discrete units that can be segregated and analyzed; and to manage all of the above in near-real time through centralized database management and automated business processes with rules-based workflow and exception management. Initiatives and architectures not built on a sophisticated data management core will provide only limited benefit, since sooner or later they will be unable to integrate fully into