Monday, January 27, 2020
Financial System and Formal Credit Services in Vietnam An overview of the Vietnamese financial system Over a 4-year period from 1988 to 1992, the Vietnamese government have initiated a wide ranges of economic reforms in order to enhance the transition itself from a centrally-planned to a market-oriented economy. Along with the implementation of state enterprise reforms and external trade liberalization, the Vietnamese government have promoted a huge number of banking sector reforms, which has resulted into a diversification of the financial system. First, a Soviet-style mono banking system has switched to a two-tier banking system in 1988s with the four sector-specialised state-owned banks separated from the State Bank of Vietnam (SBV) and playing a key role in the banking system. These four state-owned banks include the Bank for Foreign Trade of Vietnam (Vietcombank), the Vietnam Bank for Industry and Trade (Vietinbank), Vietnam Bank for Agriculture and Rural Development (VBARD) and the Bank for Investment and Development of Vietnam (BIDV). The SBV acts as the central bank, providin g both on-site and off-site inspection and supervising the operations of both banks and non-bank financial institutions. The public banking sector is comprised of the five state-owned commercial banks which altogether dominates the market. Second, the Vietnamese government also encouraged and created various opportunities for the influx of new players into the financial sector. These newcomers consisted of foreign banks, non-bank financial institutions such as insurance companies, join-stock commercial banks, join-venture banks, even credit funds and cooperatives. In addition, this policy has led to a dramatic rise in the quantities of branches and representative offices of existing state-owned commercial banks at that period. Bank for Foreign Trade, for example, has totalled 32 municipal and provincial branches (World Bank 2002). The branch network of the banking sector totally covers nearly 10,000 wards and communes throughout the nation. The economic reform process has, additionally, brought about the marked transformation in agriculture production sector. The presence of private family farms and non-farm enterprises in rural sites has increased pressures on the government for the establishment of credit institutions. Vietnam Bank for Agriculture and Rural Development (VBARD) and Vietnam Bank for Social Policy (VBSP) has then become the dominant financial service providers to the low-income population, and used the extensive network of political mass organizations to mobilize, appraise, and monitor clients (BWTP 2008). Like many other developing countries, Vietnamese credit markets is the coexistence of formal and informal credit markets. In general, rural financial system in Vietnam can be grouped into three main categories: formal sector, semi-formal sector and informal sector (Marsh et al. 2004; Lan and An 2005). The formal sector includes Vietnam Bank for Agriculture and Rural Development (VBARD), Vietnam Bank for Social Policy (VBSP) and People Credit Funds (PCFs) (World Bank, 2002). Semi-formal credit is provided by the National and International programs targeting at a selective range of borrowers and conforming to certain development targets (Pham and Lensink, 2007), and by Microfinance Programs of Mass Organizsations as well as by Savings and Credit Schemes supported by NGO and donors. The informal sector consists of private moneylenders, revolving credit associations (RCA), relatives, friends and other individuals. The informal sector has been the traditional provider of credit in rural a reas, as the result of an underdeveloped formal credit market (Marsh et al. 2004). In programs towards poor and vulnerable households, the Vietnamese Government included credit provision through microfinance institutions (MFIs) in their anti-poverty programs for the rural areas (Commins et al., 2001). These are programs focusing on female clientele who often join in groups, providing small loans for them to invest in income-generating activities (Armendariz and Morduch, 2005). The expected outcome is that rural female entrepreneurs can cope better with emergencies such as unfavorable natural events or be protected from further impoverishment during economic stress (Rutherford, 2002). The formal sector has been the key credit provider in the Vietnamese rural credit market, in which VBARD and VBSP are both the dominant. VBARD has the largest percentage of outstanding loans in the year 2010, accounting for 63%, followed by VBSP at 30%. The third position belongs to PCFs, at 6%. In contrast, microfinance institutions occupies merely 1% of outstanding loans. Figure: Percentage of outstanding loans of main sourcesto household borrowers Source: (PCFs 2010; VBARD 2010; VBSP 2010; Mix Market 2012) Source: Microfinance Resource Centre (2001) Regulations regarding banks With the aim of improving the provision of credit for individuals, households and firms in need and enhancing the effectiveness as well as the soundness of credit providing institutions, the Vietnamese government has promulgated a wide range of regulations on banking operations. These laws set numerous regulations for credit products offered, as well as for activities of credit institutions, ranging from capital norms, restrictions on asset/liability management and limits on credit institutionsÃ¢â¬â¢ investment in real estate. In 2010, the government has issued the Decree No.41/2010/ND-CP on a wide range of credit policies aimed at agricultural and rural development. First, credit institutions should, under the decree, be encouraged to provide their credit services for rural areas with appropriate interest rates, in accordance with commercial lending mechanism. Second, lending procedures should be simplified, facilitating rural borrowers to get access to loans. Moreover, assistance policies for rural borrowers should also be built up so as to curb expected risks, say, natural disasters, earthquakes or epidemics. Third, the decree will operate as a legal framework for the political system and the whole society in the enhancement of the lending provision for the agricultural and rural development. Interest rate policy Interest rate policy is among crucial policies for the reform of banking sector regulated by The Law on Banks and Credit Institutions. Since 2000, the government has gradually liberalised interest rates. And it is the liberalization of the interest rate that gives financial institutions a little more freedom in determining the rates on lending and saving (WB, 2002). The replacement of the base interest rate mechanism plus margins for the ceiling mechanism regarding the domestic currency-based lending has then been applied for all formal financial institutions. Both base lending rate and margin, under this mechanism, acts as limits for the lending rate requirements of the banks. This new mechanism provides adequate flexibility to credit institutions and should help to enhance firmsÃ¢â¬â¢ access to credit (IMF, 2002a). Furthermore, the Vietnamese government has also undertaken the regulation for the difference between lending rates and saving rates. According to this regulation, this spread cannot exceed 0.3% and 0.5% per month for short-term loans and medium-term and long-term loans respectively, which has in turn discouraged rural financial institutions from extending small loans to the rural poor and low-income households, given the high transaction costs for small loans (Dao, 2002). Lending technology In Vietnam, there are two prevailing lending methods namely individual lending and group lending. As shown in the table below, group lending has become more popular than individual lending, with the proportions for the year 1995, 1998 and 2001 standing at 98.1%, 92.1% and 87.6% respectively. Meanwhile, the percentages for individual lending method was much lower between 1995 and 2001. While individual lending technology typically focuses on the role of monitoring each individual borrower, the mechanism for group lending technology relies on the enforcement of joint liability of joining members. Generally, lending technologies can be distinguished based on different dimensions such as the primary source of information, screening and underwriting policies/procedures, structure of the loan contracts, and monitoring strategies and mechanisms (Berger and Udell 2006, hereafter BU06). Source: McCarty (2001) Collateral Under Decree No.41/2010/ND-CP, the mechanism of collateral for loans has been regulated as follows: First, credit institutions may take the provision of loans to customers with or without security assets into consideration under current regulations. Second, collateral-without lending conditions, procedures, and loan amounts must be in compliance with current provisions of law on credit institutionsÃ¢â¬â¢ provision of loans to borrowers. For individuals and households engaged in agriculture, forestry, fishery or salt production, the amount of loan can total up to 50 million VND, whereas the figure for households operating business or production activities or providing services for agriculture and rural areas is up to 200 million VND. And up to 500 million VND for cooperatives and farm owners. Third, credit institutions consider providing trust-reliant loans for individuals and households on the basis of guarantee by sociopolitical organizations in rural areas under current regulatio ns. Sociopolitical organizations have responsibility of coordinating and performing all or some of the credit operation stages after reaching agreement with the lending credit institutions. In reality, collateral is regarded as one of mandatory requirements for loans by formal credit institutions. Credit institutions often ask for collateral from borrowers in order to ensure the probability of loan repayment, as well as reduce the asymmetric information between borrower and formal lender. The asymmetric information occurs since most of the banks stay far away from potential rural borrowers, and they find it difficult to acquire previous credit history information as well as current production/business information about those borrowers. In such a case, collateral requirements are given so as to mitigate these problems. Collateral is usually in the form of immovable assets such as land use certificates, buildings, fixed assets, bank accounts, and other valuable assets, in which land use certificates and real estate are the most preferred collateral by banks. In rural areas, there has been a small number of households that have met the collateral requirements imposed by fo rmal financial institutions, whereas a markedly bigger number of rural borrowers have faced the lack of of collateral for their loans. This has, in turn, confined rural borrowers from having access to loans from formal credit institutions. In such cases, these rural borrowers have to search for other credit providers that do not require collateral, say, private moneylenders, friends, or neighbours which all belong to the informal sector. Therefore, giving households the possibility to obtain land-use rights and use them as proof of collateral can give rise to the asymmetric information alleviation between borrower and formal credit lender, thus fostering credit transactions in rural credit markets accordingly. The formal sector Vietnam Bank for Agriculture and Rural Development (VBARD) Established in 1998 along with the the intense reform of the financial system and the reintroduction of commercial banks in Vietnam, the Vietnam Bank for Agriculture and Rural Development (VBARD) has been regarded as a state policy bank and received subsidy from the Vietnamese government. VBARD has also been known as a legal entity with the sharp focus on the agriculture sector and rural areas. By the end of 2001, VBARD has become among leading commercial banks in Vietnam, having the most extensive branch network in Vietnamese rural areas. The bank then had an operating network of more than 2,300 branches and transaction offices nationwide at the end of 2010. There are the three following credit methodologies that VBARD has utilized for its lending operations. The first methodology is the the provision of individual loans for rural borrowers and enterprises. The mandatory requirement for this loan type is a proof of collateral, in which a land use certificate the so called Ã¢â¬Å"Red BookÃ¢â¬ for agricultural land or Ã¢â¬Å"Green BookÃ¢â¬ for forest land is the most widely used. Second, VBARD has also applied group lending mechanism in order to increase its coverage of rural households, as well as to reduce transaction costs associated with small loan collection. According to this method, each member of lending group bears equally the joint responsibility of loan repayment before a new round of loans is initiated. The eventual methodology involves the existence of guarantee groups formed by members of mass organizations, say, Vietnamese WomenÃ¢â¬â¢s Union, FarmerÃ¢â¬â¢s Union or YouthÃ¢â¬â¢s Union in lending process. These m ass organizations play an important role in guaranteeing the loan repayment, and loans offered by VBARD are then channed through these groups to the target borrowers who are mainly unable to provide a proof of collateral. VBARD specializes in lending to rural households and small-scale enterprises involved in agriculture or off-farm enterprises, but the bank has recently expanded its urban branch network to capture the market of urban small enterprises (BWTP 2008). The outstanding loans granted by VBARD to the economy totalled up to 414,755 billion VND in the year 2010. While the percentage of loans for households accounted for 51%, the figure for non state-owned company was 43%. The proportions of loans supplied to state-owned company and to small cooperative enterprises were considerably lower, at 5% and 1% respectively. Figure. Outstanding loans of VBARD by sector Source: VBARD (2010) The flow chart 1 indicates the credit procedures adopted by VBARD. It is clear that there are thirteen distinct stages in the process of loan provision, beginning with the collection of loan application forms by bank officials and ending with the delivery of appropriate loans to the borrower. Chart 1: Lending procedures by VBARD in Vietnam Notes: 1. Bank officials receive loan application forms from the applicant; 2. After receiving loan application forms, bank officials report to the head of the credit department; 3. The head of the credit department assigns a bank official to examine the loan application forms to see if it is filled in properly; 4. The assigned bank official appraises the applicant, mainly based on collateral; 5. The assigned bank official informs the head of the credit department about the applicant; 6. The head of the credit department assesses the information and reports it to the director of the bank; 7. Director of the bank decides on the loan and informs the head of the credit department; 8. The head of credit department informs the assigned bank official about the decision; 9. The assigned bank officer informs the applicant; 10, 11, 12. Internal information among the bankÃ¢â¬â¢s specialized departments; 13. The treasury department disburses loans to the applicant, if accepted. Source: Adapted from Ninh (2003) Vietnam Bank for Social Policy (VBSP) The Vietnam Bank for Social Policies was established under PremierÃ¢â¬â¢s Decision No. 131/2002 QD-TTg dated October 4th, 2002 and the GovernmentÃ¢â¬â¢s Decree No. 78/ND-CP dated October 4th, 2002 on the provision of credit for the poor and other policy beneficiaries. VBSP was set up on the basis of the reorganization of the Bank for the Poor and separated from VBARD with the aim of detaching the lending policy mechanism from the commercial lending mechanism. Since then, VBSP has developed its own network of 610 branches in 63 provinces/cities throughout the country and has extended loans to 46% of the poor in rural and mountainous areas (GSO Report on the results of VHLSS 2006). VBSPÃ¢â¬â¢s operations are under the supervision of the State Bank of Vietnam, whose the primary objective is to provide non-collateralized preferential loans of different rates and maturities to poor individuals, households, and organizations eligible for social benefits and policies. VBSP is conducting the method of entrusted lending via the four mass organizations, namely Women Union of Vietnam, Farmer Union of Vietnam, War Veteran Union of Vietnam and Youth Union of Vietnam. These four organizations take charge of some lending steps of VBSP such as establishing savings and credit groups; organizing certifying poor households, supervising borrowers in using loans properly etc, whereas VBSP has responsibility for conducting loan disbursement, loan collection and safe treasury management. The credit programs provided by VBSP has become increasingly diversified and appropriate with different borrowers. First, for the purpose of the implementation of the National Target Program on Hunger Eradication and Poverty Elimination initiated in 1988s, VBSP has established credit programs particularly targeting at poor households living in rural areas. The second customer group of VBSP is university/college students whose families are ranked as poor households at the commune level or village level. The objective of this lending is to support financially for those students in order that they have opportunities to fulfill their study. The third credit program of VBSP is for households living in disadvantaged and remote areas where there is very poor infrastructure or challenging climate conditions. The fourth credit program involves an implementation of the national strategy on clean water supply and environmental sanitation in rural areas for living conditions improvement, and the target customers are still poor households in rural places. Fifth, VBSP also builds up credit programs for job creation aimed at poor households and small business enterprises. Apart from credit programs listed above, there are still other various programs supporting for poor households in rural areas. The table below gives a comparison in terms of the percentages of outstanding loans allocated by VBSP for numerous credit programs between 2004 and 2010. It is evident that credit programs for production and business of poor households made up the largest percentage in both years, with 82% in 2004 and 40% in 2010. The second largest in 2010, which occupied 29% of the total outstanding loans, was credit programs for education. In contrast, that for migrant workers to go abroad accounted for only 1%. Table: The proportions of outstanding loans by credit programs. Source: (VBSP 2004; VBSP 2010) In regard to the loan interest rate, in 2013, the annual lending interest rate of the market was 10.8%, while the figure for VBSP was merely 6.0%. That means VBSP subsidized 4.8% of the lending interest rate for the poor (World Bank 2004). Since the decision No. 579/QÃâÃ -TTg dated May 6, 2009 on the support of the lending interest rate for VBSPÃ¢â¬â¢s loans was issued, the annual interest rate on loans for agricultural production and off-farm jobs reduced by 5%, from 7.8% to 3.8%, while that of the market was standing at 10.5% on average. By late 2010, VBSPÃ¢â¬â¢s total outstanding loans mounted to 89,461 billion VND, 14 times higher compared to that in 2001. PeopleÃ¢â¬â¢s Credit Funds (PCFs) PeopleÃ¢â¬â¢s Credit Funds were established in 1993 after the collapse of rural credit cooperatives. According to Hung (1998), PCFs were constructed on the model of the Caisse Populaire system in Quebec, Canada, with the technical support from the Development International Desjardins (DID). PCFs were funded by the Canadian International Development Agency (CIDA) and supervised by the State Bank of Vietnam.
Sunday, January 19, 2020
Business procedure reengineering, as a term and as a pattern, has a tarnished history. Reengineering become really popular in the early 1990 Ã¢â¬Ës, nevertheless, the methodological analysis and attack was non to the full understood nor apprehended. Many times, betterment undertakings labeled with the rubric Ã¢â¬Å" BPR Ã¢â¬ were ill planned and executed. Employees and organisations cringed at the idea of another Ã¢â¬Å" BPR Ã¢â¬ experience. The term itself is being used less, or is being altered so that these types of enterprises are non associated with the Ã¢â¬Å" BPR Ã¢â¬ of the yesteryear. Despite this maltreatment of the pattern and tarnished name, the pattern of redesigning concern procedures and the associated engineering and organisational construction is more popular today than of all time. Companies continue to review and basically alter the manner they do concern. Competitive force per unit area and a sulky economic system provide the effectual tool for organisations endeavoring to run as efficaciously and expeditiously as possible.Learning aim:The chief of fixing and showing this study is to understand about the construct what concern procedure technology is, and how it benefited the companies in decrease on procedure clip and costs. Another aim is to measure how concern procedure reengineering enhances the capablenesss and working capacities of companies. This survey will besides affect the survey of those factors that companies use to develop concern procedure reengineering a more profitable one.Meaning and definition of BPR:Business procedure reengineering i s the redesign of concern procedures and the associated systems and organisational constructions to accomplish a dramatic betterment in concern public presentation. The concern grounds for doing such alterations could include hapless fiscal public presentation, external competition, and eroding of market portion of emerging market chances. BPR is non downsizing, restructuring, reorganisation, mechanization, new engineering, etc. It is the scrutiny and alteration of five constituent of the concern: Scheme, processes, engineering, organisation, and civilization. Michael Hammer defines concern procedure reengineering in his book Reengineering the Corporation as:Ã¢â¬Å" Cardinal rethinking and extremist redesign of concern procedures to convey about dramatic betterments in public presentation. Ã¢â¬ Davenport defines BPR as: Ã¢â¬Å" The analysis and design of work flows and procedures within and between organisations Ã¢â¬Ë ( Davenport & A ; Short 1990 ) Teng et Al. ( 1994 ) , define BPR as:Ã¢â¬Å" The critical analysis and extremist redesign of bing concern procedures to accomplish discovery betterments in public presentation steps. Ã¢â¬ Hammer focuses on one of the cardinal constructs of BPR, that it is cardinal and extremist. The alternate concern betterment methodological analysis is Continuous procedure Improvement ( CPI ) , which emphasizes little and mensurable polishs to an organisation Ã¢â¬Ës current procedures and systems. CPI has its beginnings in entire quality direction ( TQM ) and Six Sigma, a plan that began at Motorola.BPR and some MythsThe popular direction literature has created more myth than practical methodological analysis reengineering. The construct of BPR has been with us since about 1990, nevertheless it is widely misunderstood and has been equated to downsizing, client/server computer science, quality, ABC, and several other direction panaceas of the past several old ages. Based on interviews and conver sations with more than 20 companies, and 35 reengineering enterprises, Davenport & A ; studded ( 1990 ) place seven reengineering myths: The myth of Reengineering freshness: reengineering, although about familiar constructs, is new in that these constructs are combined in a new synthesis. These cardinal constituents have ne'er been together earlier. The myth of the clean slate: regardless of cock Ã¢â¬Ës ( 1990 ) exhortation Ã¢â¬Å" Do n't automatize, obliterate! Ã¢â¬ Clean slate alteration is seldom found in pattern. Or, as Davenport and Stoddard ( 1994 ) province: A Ã¢â¬Å" clean sheet of paper Ã¢â¬ used in design normally requires a Ã¢â¬Å" clean cheque Ã¢â¬ for execution is done over several phased undertakings. Besides supported by preliminary findings of Stoddard and Jarvenpaa 1995 their findings ran contrary to Hammer ( 1990 ) Ã¢â¬Å" although reengineering can present extremist Furthermore, a radical alteration procedure might non be executable given the hazard and cost of radical tactics, Ã¢â¬ The Myth of IS Leadership: In contrast to the much touted leading function, IS is by and large viewed as a spouse within a cross-functional squad that is by and large headed by a non-IS undertaking leader and a non-IS concern patron who have better control over the procedures that are being redesigned. The Myth of Top-Down Design: The execution and executing of the redesigned procedures depends upon those who do the work. Hence, the engagement, and more significantly, credence and ownership/at the grass roots degree is indispensable for successful BPR. The Myth of Reengineering VS transmutation: BPR is a procedure that contributes to organisational transmutation ( OT ) ; nevertheless it is non synonymous with transmutation. OT is defined as, Ã¢â¬Å" Profound, cardinal alterations in idea and action, which create an irreversible discontinuity in the experience of a system: ( Adams 1984 ) . OT is defined as, Ã¢â¬Å" Profound, cardinal alterations in idea and needfully involves reframing, which is a discontinuous alteration in the Organization Ã¢â¬Ës or group Ã¢â¬Ës shared significance or civilization. It besides involves wide alterations in other organisational dimensions besides the work processes such as organisational construction, scheme, and concern capablenesss. The Myth of Engineering Ã¢â¬Ës Permanence: Davenport and Stoddard ( 1994 ) speculate that reengineering has peaked in the US in 1994 and would likely go incorporate with much broader organisational phenomena such as another synthesis of thoughts that includes the percepts of reengineering: its integrating into bing alteration methods: or its combination with quality and other process-oriented betterment attacks into an incorporate procedure direction Approach.BPR and TQMTeng et Al. ( 1994 ) note that in recent old ages, increased attending to concern procedures is mostly due to TQM ( entire Quality motion ) . They conclude that conclude that TQM and BPR portion a cross-functional orientation. Davenport observed that quality specializer tend to concentrate on incremental alteration and gradual betterment of procedures, while advocates of reengineering frequently seek extremist redesign and drastic betterment of procedures. Davenport ( 1993 ) notes that quality Management, frequently referred to as entire quality direction ( TQM ) or uninterrupted betterment, refers to plans and enterprises that emphasize design or procedure invention, refers to discrete enterprises that are intended to accomplish radically redesigned and improved work processes in a delimited clip frame.Relation between BPR and Information TechnologyHammer ( 1990 ) considers it as the cardinal enabler of BPR which he considers as Ã¢â¬Å" extremist alteration. Ã¢â¬ He prescribes the usage of IT to dispute the premise inherent in the work processes that have existed since long before the coming of modern computing machine and communications engineering. He argues that at the bosom of reengineering is the impression of Ã¢â¬Å" discontinuous thought or recognizing and interrupting off from the outdated regulations and cardinal premises underlying operationsaÃâ Ã ¦ these regulations of work design are based on premises about engineeri ng, people, and organisational ends that no longer keep, Ã¢â¬ He suggests the following Ã¢â¬Å" rules of reengineering Ã¢â¬Ë : Form around results, non undertakings: Have those who use the end product of the procedure execute the procedure: Subsume information processing work into the existent work that produces the information ; Treat geographically dispersed resources as though they were centralized ; Link parallel activities alternatively of incorporating their consequences ; Put the determination point where the work is performed, and construct control into the procedure ; and Capture information one time and at the beginning. Davenport and Short ( 1990 ) argue that BPR requires taking a broader position of both IT and concern activity, and of the relationships between them. IT should be viewed as more than an mechanization or mechanising force to basically reshape the manner concern is done. Business activities should be viewed as more than a aggregation of single or even functional undertakings in a procedure position for maximising effectivity. IT and BPR have recursive relationship. IT capabilities should back up concern procedures, and concern procedures should be in footings of the capablenesss IT can supply. Davenport and Short ( 1990 ) refer to this broadened, recursive position of IT and BPR as the Ã¢â¬Å" new industrial technology Ã¢â¬ . Business processes represent a new attack to coordination across the house ; IT Ã¢â¬Ës promise and its ultimate impact is to be the most powerful tool for cut downing the costs of coordination ( Davenport and Short 1990 ) . Davenport and Short ( 1990 ) outline the undermentioned capablenesss that reflect the functions that IT can play in BPR Transactional, Geographical, Automatical, Informational, Sequential, cognition Management, Tracking, and Disintermediation. Teng et Al. ( 1994 ) argue that the manner related maps participate in a procedure the functional yoke of a procedure can be differentiated along two dimensions degree of mediation and grade of coaction. They define the: Degree of Mediation Ã¢â¬ of the procedure as the extent of consecutive flow of input and end product among take parting maps. They define the Degree of Collaboration of the procedure to the extent of information exchange and common accommodation among maps when take parting in the same procedure. In their model, information engineering is instrumental in cut downing the Degree of Mediation and heightening the Degree of Collaboration Besides, advanced utilizations of IT would inevitable take many houses to develop new, coordination-intensive constructions, enabling them to organize their activities in ways that were non possible earlier. Such coordination-intensive constructions may raise the organisation Ã¢â¬Ës capablenesss and reactivity, taking to possible str ategic advantages. Participants represented a wide sampling of industry groups. Product development and fabrication, finance and banking and consulting were the three largest sectors, accounting for over one-third ( 37 % ) of participants. Over a one-fourth of the participants were team leaders. Approximately 56 % of participants were either a squad leader, or a team member or a adviser.What processes are marks for Reengineering?Customer service was once more the most often reengineered procedure, as it had been in 1997 and 1999, but by less of a border. Information ( computing machine ) services about doubled in frequence, traveling it from the fifth to the 2nd most targeted concern for reengineering.Why are they being targeted?In each study ( 1997, 1999, 2002 ) , the demand to cut down cost/expense was the most often cited concern driver for reengineering undertakings. In 2002, 65 % of participants stated that disbursal decrease was the primary driver. The other three concern drivers are: competitory force per unit area ; hapless client satisfaction ; and hapless quality of merchandises and services.Are BPR undertakings successful?Survey participants showed much higher overall expected betterments from their BPR undertakings in 2002 than in 1999 or 1997. Over half ( 54 % ) of participants expected betterments of over 30 % . In add-on to anticipating higher betterments, survey participants were more successful in their undertakings. About 113 survey participants were able to mensurate their undertaking against the initial aims that were set. Over 73 % met or exceeded their aims, with about half ( 47 % ) of survey participants run intoing their undertaking within 10 % .What are the most critical undertaking activities?Participants overpoweringly indicated that the planning phase where range and functions were set was the most of import stage in the undertaking. The most of import measure was the planning and design stage, which formed the basis and set mileposts for the undertaking. Ã¢â¬ Other stairss participants cited as critical to project success included a high degree reappraisal of the concern as usual or Ã¢â¬Ëas is Ã¢â¬Ë province of the organisation ( although squads cautioned against passing excessively much clip with this activity ) and deriving support and Ã¢â¬Ëbuy-in Ã¢â¬Ë from top direction ( including edifice executive sponsorship ) . Over 75 % of participants were required to subject a concern instance that included the projected ROI for the undertaking to see support. The undertaking had to bring forth a significantly positive ROI and show consequences within a specified clip frame.How did squads pass their clip?About two-thirds of a typical undertaking clip was spent planning, planing and deriving blessing with lone one-third spent on development and execution of the solution.Are undertakings acquiring longer or shorter?Continuing the tendency of shorter undertakings from 1997 and 1999, the norm undertaking lasted 13.8 months in the 2002 survey. In 1999 undertakings lasted 14.5 months and in 1997 they lasted 19.7 months.What would teams make otherwise?The top activity that undertaking squads would make otherwise on the following undertaking was more effectual alteration direction. Study participants cited increased preparation in the countries of BPR, alteration direction, engineering and direction rules as the figure one activity they would make otherwise with their following undertaking.Why are certain squads successful?Participants cited a figure of factors that contributed to their squad Ã¢â¬Ës success. The top three factors were: Team members demonstrated a dedication to the undertaking The squad had strong committedness and support from the top direction The squad shared a clear vision of the aims and ends and had a common focal point and apprehension of the undertaking Ã¢â¬Ës success. The sum of clip that squad members are able to perpetrate to the undertaking ( full-time vs part-time ) is steadily diminishing from the degrees in 1997 and 1999. At the same clip, stud participants felt that a deficiency of focal point on the undertaking, caused by preoccupation with regular responsibilities, inhibited the squad Ã¢â¬Ës success.Did utilizing advisers pay off?Teams used advisers for the undermentioned three grounds: To move as the squad leader or cardinal facilitator within the reengineering squad To supply and/or organize the preparation of squad members. To supply specific and elaborate IT or proficient systems advice and expertness. More than three-fourthss of companies that used advisers rated the advisers Ã¢â¬Ë effectivity excellent or really good, and more than three-fourthss of organisations cited the advisers Ã¢â¬Ë influence as critical or really critical to the undertaking Ã¢â¬Ës success.Did utilizing alteration direction truly do a difference?Excellent or really good alteration direction plans straight correlated with squads that met or exceeded their overall undertaking aims. The top-three alteration direction activities were: Changeless and diverse communicating. Training of employees on the new procedure and systems to be used. Planing the passage and invariably re-evaluating short-run ends and marks. Communication was once more the most of import alteration direction activity listed by participants. Participants cited the usage of multiple communicating methods as the key to guaranting successful communicating. Electronic mails and web sites were successful in making the broad audience, but as the subject was driven deeper in the organisation, there was no replacement for face-to-face treatments.What can Exceed direction make to promote undertaking success?Reflecting the consequences from the 1999 study, squads whose undertakings were driven or to a great extent supported by top direction were more likely to finish their undertaking at or above outlooks. The biggest error made by senior directors or executive patrons was a failure to demo sufficient seeable engagement in the undertaking.Ã¢â¬Å" aÃâ Ã ¦ non remaining involved plenty after the initial stage, presuming that everyone in the organisation understood their vision and scheme. Ã¢â¬ An overpowering bulk of squads had senior directors or executive-level directors as their undertaking patrons, and most squads rated their patron effectivity as really good or first-class.What were the biggest obstructions?Participants cited a figure of obstructions during execution. Resistance to alter within the organisation was cited six times more frequently than any other obstruction. Resistance came in many signifiers, including organisational inactiveness, corporate civilization, front-line opposition and direction opposition. The most normally cited subscribers to implementation success were: Buy-in from upper direction, including an executive patron ; A clear apprehension of the concern issues and the BPR solution ; and Employee support and buy-in for the proposed solution.How long earlier undertakings show consequences?Survey participants reported a short sum of clip before they realized betterments. A sum of 70 % of participants realized betterments within six months of undertaking execution and merely 12 % of undertakings required over a twelvemonth before betterments were realized.What else does the 2002 study screen?A list of the most critical Ã¢â¬Å" must make Ã¢â¬ and Ã¢â¬Å" must non make Ã¢â¬ recommendations from undertaking reams and squad leaders The complete set of direction errors most normally made during major alteration undertakings A comprehensive usher to BPR methodological analysiss and activities used by squads An analysis of which concern procedures are the future marks for alteration by companies The functions of executive patrons ( what they can lend most ) Key success factors for undertaking execution Guidelines for choosing the most effectual undertaking squad Most of import start-up activities for new undertakings What squad would make otherwise on their following undertaking Charts and graphs demoing what benefits squads are accomplishingFuture way of BPROver the last few old ages, the reengineering construct has evolved from a Ã¢â¬Å" extremist alteration Ã¢â¬ to account for the contextual pragmatism ( Caron et. Al. , 1994, Earl 1994 ) , and to accommodate with more incremental procedure alteration methods such as TQM, towards a broader, yet more comprehensive procedure direction construct ( Davenport 1995 ) . Based upon a theoretical analysis and study of literature relevant to reengineering, Kettinger and Grover ( 1995 ) sketch some propositions to steer future enquiry into the phenomenon of BPR. Their propositions centre around the constructs of cognition direction, employee authorization, acceptance of new ITs, and a shared vision. Earl et al. , ( 1995 ) have proposed a Ã¢â¬Å" procedure alignment theoretical account Ã¢â¬ that comprises four lenses of enquiry Ã¢â¬â procedure, scheme, MIS, and alteration direction and control, and used it for developing an inductive taxonomy of BPR schemes. Malhotra ( 1996 ) has developed the cardinal accent on these issues based chiefly on an integrative synthesis of the recent literature from organisation theory, organisation control, scheme, and MIS. King ( 1994 ) believes that although the current faddism of BPR may stop, nevertheless, procedure reengineering, in some signifier or known by some other name ( californium: Davenport & A ; Stoddard 1994 ) would be of digesting importance.Decisions on Business procedure reengineering:Companies sought out methods for faster concern procedure betterments. Furthermore, companies want breakthrough public presentation alterations, non merely incremental alterations, and they want it now. Because the rate of alteration has increased for everyone, few concerns can afford a slow alteration procedure. One attack for rapid alteration and dramatic betterment that has emerged is concern procedure reengineering ( BPR ) . BPR relies on a different school of idea than uninterrupted procedure betterment. In the extreme, reengineering assumes the current procedure as irrelevant Ã¢â¬â it does n't work, it Ã¢â¬Ës broken, bury it. Start over. Such a clean slate position enables the interior decorators of concern procedures to dissociate themselves from today Ã¢â¬Ës procedure, and concentrate on a new procedure. In a mode of speech production, it is like projecting yourself into the hereafter and inquiring yourself Ã¢â¬â what should the procedure expression like? What do my clients want it to look like? What make other employees want it to look like? How make best-in-class companies do it? What might we be able to make with new engineering? In drumhead, the utmost contrast between uninterrupted procedure betterment and concern procedure reengineering prevarications in where you start, and with the magnitude and rate of ensuing alterations. Therefore it is hard to happen an exact matched BPR to a peculiar company Ã¢â¬Ës demands, and the challenge is to cognize what method to utilize when and how to draw it off successful such that bottom-line concern consequences are achieved. Such are the subjects which have to be studied farther.
Saturday, January 11, 2020
Racism and Anti-Semitism: Is it still A Problem in the United States? Melody D. Rahimi Logic Dr. Fail November 19, 2011 Racism and Anti-Semitism: Is it still A Problem in the United States? Racism and Anti-Semitism is an old debate. Although, most everyone thinks racism is objectionable, which ranges from cognitive, economic, or moral. Racism is the belief that human beings can be divided into races and that members of some races are inferior to members of other races. (Null, 2011). Anti-Semitism is prejudice against Jews. Racism and anti-Semitism is complex and still is a problem in the United States. Argument There are still racism and anti-Semitism crimes in the United States. In 2010, law enforcement agencies reported that 3,725 single-bias hate crime offenses were racially motivated. (Hate Crime, 2010). Of these offenses 69. 8 percent were motivated by anti-black bias. 18. 2 percent stemmed from anti-white bias. 5. 7 percent were a result of bias against groups of individuals consisting of more than one race (anti-multiple races, group. 5. 1 percent resulted from anti-Asian/Pacific Islander bias. 1. 2 percent were motivated by anti-American Indian/Alaskan Native bias. The Anti-Defamation League's annual Audit of Anti-Semitic Incidents recorded 1,239 anti-Semitic incidents across the United States in 2010, which represents a 2. 3% increase over 2009. These included 22 physical assaults on Jewish individuals (down from 29 in 2009). There were 900 cases of anti-Semitic harassment, threats and events (up from 760 in 2009). Lastly, there were 317 cases of anti-Semitic vandalism (down from 422 in 2009). (Anti-Semitism, 2010). These statics show a slight increase in incidents and that racism and anti-Semitism still exists in the United States. There is till problem in the United States with racism and anti-Semitism. Racism and Anti-Semitism has existed throughout history. Racism is defined as hatred towards another Ã¢â¬â the belief that the other person is less human Ã¢â¬â because of language, place of birth, skin color, or customs. Racism has influenced every aspect of culture from wars, slavery, and nations. The United States power towards non-Am ericans has had a significant impact on history than any other form of racism. The first example of America is slavery. Slavery happened because the racist believed that Black Americans were less human than whites. The anger toward the Jews dates to the beginning of Jewish history. Christianity increased the hatred of the Jew. While America is caught up in racial uproar, the Middle East is center for the most anti-Semitism. (Hate Crime, 2010). Most Jewish Americans are moderate to liberal in their political affiliations. They are strong supporters of civil liberties and support clear separation of church and state, perhaps recalling their ancestorsÃ¢â¬â¢ persecutions at the hands of religious authorities. The Anti-Defamation League, founded in 1913 to combat anti-Semitism, continues to monitor and report anti-Semitic incidents in the United States. It also supports civil liberties and a pro-Israeli foreign policy. (Anti-Semitism, 2010). Knowing the history of racism and anti-Semitism allows us to see that the problem has not been resolved over time. There is still a problem in the United States. There is a deductive argument for racism. Racism is a problem (P is S). Problem is unresolved (S is I). Therefore, racism is unresolved. (P is I). Then the inductive argument for racism is n 2010, of the 6,624 single bias incidents. There were 47. 3 percent were motivated by a racial bias (P). In 2009, Of the 6,598 single-bias incidents, 48. percent were motivated by a racial bias (P). In 2008, of the 7,780 single-bias incidents revealed that 51. 3 percent were motivated by a racial bias, (P). In 2011, of the single bias incidents, at least forty five percent will be motivated by racial bias. There is a deductive argument for Anti-Semitism. Anti-Semitism is a problem. (P is S). Problem is unresolved (S is I). Therefore, Anti-Semitism is unresolved. (P is I). Then the inductive argument for anti-Semitism is in 2010, 1,239 anti-Semitic incidents across the United States (P). In 2009, there were 1,211 anti-Semitic incidents across the United States (P). In 2008, there were 1,352 anti-Semitic incidents across the United States (P). In 2011, of the anti-Semitic incidents across the United States, there will be 1,200. Of the agreements presented, there is still a problem with racism and anti-Semitism in the United States. Counter-Thesis and Counter-Argument However, there are other thoughts on racism and anti-Semitism. The counter thesis or argument would be that racism and anti-Semitism is not a problem in the United States today. One might say this is a moral argument. According to Mossler, Ã¢â¬Å"Moral arguments are different from other kinds of arguments. The main difference is this behind every conclusion about what Ã¢â¬Å"shouldÃ¢â¬ be done, ethically speaking, there is a value or values. Also, the values that underlie our moral arguments can typically be boiled down to three main kinds this problem would be considered values that relate to freedom (justice, respect, rights, equality, and so on). Ã¢â¬ (Mossler, 2010). Response to Counter-Thesis The response to the counter-thesis is although it is a moral argument, the deductive and inductive arguments premises and conclusions state that there is still a problem with racism and anti-Semitism in the United States. Therefore, there is still a problem in the United States. Ã¢â¬Å"Social theorists dispute whether, in its essence, racism is a belief or an ideology of racial inferiority, a system of social oppression on the basis of race, a form of discourse, discriminatory conduct, or an attitude of contempt or heartlessness (and its expression in individual or collective behavior). Ã¢â¬ (Racism, 1999). Ã¢â¬Å"Although virtually everyone thinks racism objectionable, people disagree over whether its central defect is cognitive (irrationality, prejudice), economic/prudential (inefficiency), or moral (unnecessary uffering, unequal treatment). Ã¢â¬ (Racism, 1999). Today one hears charges of unconscious, covert, institutional, paternalistic, benign, anti-racist, liberal, and even reverse racism. Racism is widely regarded as involving ignorance, irrationality, unreasonableness, injustice, and other intellectual and moral vices, to such an extent that today virtually no one is willing to accept the classification of oneself, oneÃ¢â¬â¢s beliefs, and so on, as racist, except in contexts of self-reproach. As a result, classifying anything as racist, beyond the most egregious cases, is a serious charge and is often hotly disputed. Ã¢â¬ (Racism, 1999). In conclusion, people vary in their opinions about racism and anti-Semitism. These topics are an old debate. Although, most everyone thinks racism is objectionable, which ranges from cognitive, economic, or moral. Racism and anti-Semitism is complex and still is a problem in the United States. After reading the statics and history, we can believe that racism and anti-Semitism is still a problem in the United States. We can testify that we have witnessed or seen racism or anti-Semitism in our life. References The Anti-Defamation League. (1913). Retrieved from http://www. adl. org/main_Anti_Semitism_Domestic/default. htm Anti-Semitism. (2010). In Culture Wars: An Encyclopedia of Issues, Viewpoints, and Voices. Retrieved from http://www. credoreference. com/entry/sharpecw/anti_semitism Hate Crime. FBI. http://www. fbi. ov/about-us/cjis/ucr/hate-crime/2010/resources/hate-crime-2010-about-hate-crime (adapted from the sixth edition of the APA Publication Manual, Ã © 2010) Mosser, K. (2011). An introduction to logic. San Diego, CA: Bridgepoint Education, Inc. (https://content. ashford. edu) Nunn, Kenneth B. Ã¢â¬Å"Anti-Semitism. Ã¢â¬ World Book Advanced. World Book, 2011. Web. 18 Nov. 2011. Nunn, Kenneth B. Ã¢â¬Å"Racism. Ã¢â¬ World Book Advanced. World Book, 2011. Web. 18 Nov. 2011. Racism. (1999). In The Cambridge Dictionary of Philosophy. Retrieved from http://www. credoreference. com/entry/cupdphil/racism
Friday, January 3, 2020
Indian Oil Corporation Ltd. An Internship Report Giselle Charisma Sequeira SSN: 889-94-0978 In Partial Fulfillment of the MasterÃ¢â¬â¢s Program in Business Administration, Ohio University, Athens, USA OHIO University Christ College Academy for Management Education Christ College Campus, Hosur Road, Bangalore-29 April 2007 ACKNOWLEDGEMENTS Completing a task is never a solo effort. It is often the result of invaluable contributions by a number of individuals in a direct or indirect manner, which helps in the shaping and achievement of success. Firstly, I would like to express my sincere gratitude to Mr. Nilesh Nekaljay, Manager (TD) for granting me the opportunity to undertake an internship at the Indian Oil Corporation Ltd.Ã¢â¬ ¦show more contentÃ¢â¬ ¦Ltd. (DARCL) Contacted and Reasons for Cards Not Being UsedÃ¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦50 SWOT AnalysisÃ¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦..Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦..52 RecommendationsÃ¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦..53 Conclusion Future Line of WorkÃ¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦..Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦..56 ReferencesÃ¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦..58 AppendixÃ¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦..Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦..59 Appendix 1Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦..Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦..59 Appendix 2Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦..Ã¢â¬ ¦Ã¢â¬ ¦..61 THE OIL GAS INDUSTRY IN INDIA India is the sixth largest consumer of oil. 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