Csr in Inidan Banking Sector Essay Example for Free

Csr in Inidan Banking Sector Essay State regulatory bodies, NGOs, media, customers have significantly addressed social responsibility issues in banking sector. International organization such as World Bank also exerts pressures on banks to analyze social and environmental risk involved in projects to be financed. In addition the reputation and resultant profitability of an organization are greatly effected by their CSR activities. Researchers have found a positive correlation between CSR and financial performance of the organization. Around the globe, a good commitment is being shown by the banking industry to CSR principles. Banks are showing conscious efforts to reduce the regulatory actions by depicting a good environmental citizen image. Banking in India has originated in the last decades of the 18th century with the establishment of General Bank of India in 1786, and the Bank of Hindustan set up in 1870 (both banks are now defunct). At present, the commercial banking structure in India consists of Scheduled Commercial Banks Unscheduled Banks. Banking in India has evolved in four distinct phases: Foundation phase, Expansion phase, consolidation phase and Reforms phase. An integrated approach of combining CSR with the ultimate customer satisfaction is being adopted by Indian banking industry voluntarily. An attempt has been initiated to ensure social responsible behavior of banking sector in a more systematic manner. Public and private sector banks have common thrust areas which are children welfare, community welfare, education, environment, healthcare, poverty eradication, rural development, vocational training, women’s empowerment, protection to girl child, employment. The core areas for reporting CSR activities are slightly different in both public and private sector banks. The major areas investigated for reporting CSR activities in public and private sector banks is shown by the Figure 1 and Figure 2 respectively below: X axis in the below charts represents the fields of CSR activities and Y axis represents the number of banks working in the particular fields out of the selected sample. Figure 1: Core thrust areas for reported CSR activities in public sector banks Source: 1-IJAEBM-Volume-No-1-Issue-No-2-CSR-Practices-and-CSR-Reporting-in-Indian-Banking-Sector-058-066 As per the chart above rural development has been the ost actively participated activity for Indian public sector banks. Besides, their primary focus has been on gender equality through women empowerment. Figure 2: Core thrust areas for reported CSR activities in private sector banks Source: 1-IJAEBM-Volume-No-1-Issue-No-2-CSR-Practices-and-CSR-Reporting-in-Indian-Banking-Sector-058-066 Enhancing the level of education and employment has been the major areas for reporting CSR activities i n Indian private sector bank. Following are community welfare, programs for child welfare and protection of environment. 3. 1 RBI guidelines on CSR: On December 20, 2007 RBI circulated a notice for all the scheduled commercial banks to highlight the role of banks in corporate social responsibility, with title â€Å"Corporate Social Responsibility, Sustainable Development and Non-Financial Reporting – Role of Banks†. Major issues discussed in the notice were regarding – 1. Corporate Social Responsibility 2. Sustainable Development 3. Non-Financial Reporting Talking about the corporate social responsibility program RBI followed many international initiatives to highlight the importance of the notice like – 1. United Nations Environment Program Finance Initiative (UNEP FI) 2. They can achieve the mission by supporting initiatives that are * Cost effective * Capable of large-scale replication * Measurable * Having potential for both near and long-term impact. * Banks must provide appropriate training to its employees on environmental and social risks in lending to ensure that climate change is taken into account in corporate banking decisions. 6. Conclusion The CSR moment in the banking sector is slowing picking the pace. Many banks are showing their inclination and interest towards the CSR activities and believe it as their social responsibility. On the other side CSR reporting practices are far from satisfaction. There are hardly few banks which report their activities on triple bottom line principles. The lack of uniform standards for rating CSR practices leads to problem in comparison of corporate houses and difficulty in determining the CSR rating. In spite of the slow adaptation of CSR reporting practices in India, it is predicted to pick up a great pace in near future. The need for enacting some stringent regulatory provisions to ensure adherence to social responsibility principles is necessary. https://ru.scribd.com/doc/19779226/CSR-PROGRAM-IN-BANKING-SECTOR-AN-INDIAN-PERSPECTIVE http://www.karmayog.org/ https://en.wikipedia.org/wiki/Reserve_Bank_of_India https://en.wikipedia.org/wiki/Corporate_social_responsibility

Finance: Stocks Vs Treasury Bonds :: essays research papers

Historically speaking, stocks have been found to be no more risky than Treasury bonds. Over the past twenty years vast research has been done on this subject. Jeremy Siegel of the University of Pennsylvania’s Wharton School stated that, â€Å"The safest long-term investment for the preservation of purchasing power has clearly been stocks, not bonds.† Since the mid nineteen twenties, company stocks have average annual returns close to 11%, while on the other hand, Treasury Bonds only return with a little over 5%.   Ã‚  Ã‚  Ã‚  Ã‚  Currently stocks are on the rise. Since 1982 the reason for this is the declining risk premium. The return, or â€Å"risk premium,† that is required is much less. This is for several reasons. Investors have realized not to be so fearful of the great unpredictability of stocks. Instead of dropping stocks in the short run, investors are learning to hold out for the long run to see huge benefits. Secondly, Americans are now keeping stocks in accounts that require long-term holding, such as retirement accounts. Also, businesses are becoming much more efficient and the chance of undergoing devastating turn-arounds in a recession are much less. The tax environment is more generous, foreign threats have ceased dramatically, and the government management has vastly improved. The bottom line is that the risk of investing stocks is much less than it ever has been before. The level of the risk premium is heading towards zero, while currently holding at 3%. That 3% is much better than the historical average of 7%. James K. Glassman and Kevin A Hassett, authors of the book, â€Å"Dow 36,000,† claim that the prediction of the Dow reaching 36,000 is not out of the realm of possibilities. If the earnings grow in the long term at the same rate as the GDP and treasury bonds are below 6%, then it is very possible for the Dow to hit a level of 36,000. One critic of â€Å"Dow 36,000,† Burton G. Malkiel, stated that the rise in stocks that has been occurring is the beginning to an adjustment that â€Å"will only be complete when stocks and bonds are priced to offer equivalent returns, and that implies a level of 36,000 for the Dow today with a price earnings multiple of 100.† So the question remains at whether the authors of â€Å"Dow 36,000† are correct or incorrect about the arguments and predictions that they make in their book. They are correct in what they predict in their book, but they need to make sure to not lead some not-so-experienced investors down the wrong road of deception.

A 20th Century Leader

‘Robert Kennedy: His Life’ is the autobiography of Robert F. Kennedy (popularly referred to as RFK). It was written by Evan Thomas, a former senior editor of Newsweek in Washington.He was the first biographer to have access to Kennedy’s personal papers as attorney general. Thought the book contains no shocking revelations, there is a lot of fresh information gathered from Robert’s surviving colleagues, files and other sources. In the book, Thomas gives an elucidation of the man’s strengths as well as failures, and discloses the complex web of relationships in the Kennedy family.Depicting RFK as a man whose ‘house had a lot of mansions’, Thomas refers to him as ‘the lucky one’. Throughout the book, Thomas brings out the many phases of Kennedy’s personality. He was a very rich individual who could act like a spoiled child one day, and show sympathy to the minorities the next. Though the book honors a man whose potential was cut short too soon, Thomas’ book focuses on a man, a family and an era about whom Americans will never fully understand.Robert was the younger brother of U.S. President John F. Kennedy (JFK). Born on November 20, 1925, he was the seventh born of Rose Fitzgerald and Joseph P. Kennedy. After living in Brookline, Massachusetts for two years, Robert and his family moved severally to mansions located in different parts of New York such as Riversdale and Bronxville.Robert schooled at Riversdale and Bronxville elementary schools till 5th grade, and then moved to Riverdale Country School for 6th grade. In 1938 when 12 years old, Robert took his first trip abroad with his family to England, where his father was serving as an American envoy. After finishing high school in 1943, Robert was drafted into the U.S. Naval Reserve as a trainee seaman.Robert Kennedy’s involvement in politicsAccording to Brian (1996), when World War II broke out, Robert took a break from studies at Harvard and joined the U.S. Navy. After the war, he went on to complete his studies and graduated with a law degree from University of Virginia. In the 1950s, he served as a counsel to a US Senate committee probing labor unions, leading to his open feud with the Teamsters leader Jimmy Hoffa.Robert’s political career is more closely associated with his brother, JFK. He oversaw JFK’s successful campaigns for the US Senate in 1952 and the presidency in 1960, and then was appointed as Attorney General in John’s administration.He was at the forefront of enforcing civil rights measures in the South and became the president’s closest adviser on all issues, for example foreign policy matters such as the Cuban missile crisis. After his brother’s assassination in 1963, Robert continued to serve in the Lyndon Johnson government as Attorney General and was unhappy that Johnson overlooked him for vice-presidency in 1964.Robert ran successfully for senator of Ne w York. As senator, he was loved by African Americans and other minorities such as immigrant groups and Native Americans. He spoke convincingly in favor of the excluded, disaffected and impoverished, hence getting the support of social justice campaigners and leaders of the civil rights struggle.He backed President Johnson on domestic matters, particularly civil rights and the war on poverty, but did agree with him over the war in Vietnam. By 1968, he was one of the most vocal advocates against the American policy on Vietnam. On domestic policy however, he became more and more liberal and developed a soft spot for the dispossessed and the minorities.Robert declared his candidacy for the US presidency in early 1968. He was assassinated on June, 5, 1968 at the Ambassador Hotel in Los Angeles just after delivering a speech to his supporters upon capturing the California primary. He was pronounced dead the following morning.Attitudes and ApproachAccording to Brian (1996), Robert as a ch ild was frequently the target of his father’s domineering temperament. However as he got older, he won the admiration of his father and brothers through his competitiveness. During his brother’s campaigns, Robert was more tenacious, passionate and involved than the candidate himself, aggressively tackling every detail and fighting every battle.

Londons Ships of Historical Interest Partnership - Marketing Plan - Free Essay Example

Sample details Pages: 10 Words: 2886 Downloads: 10 Date added: 2017/06/26 Category Marketing Essay Type Case study Level High school Did you like this example? Londons Ships of Historical Interest Partnership Marketing Plan Executive Summary Londons Ships Partnership is not simply a tourist attraction, but a serviceable brand. Counting Maritime Vessels including the historic 1577 Golden Hinde and the World War II cruiser HMS Belfast, they provide an excellent source of national interest in a nation of naval history and heritage. Despite a reduction in interest and decrease in the amount of tourists these vessels attract, it still remains a worthwhile business proposition with the penetration of international markets. Don’t waste time! Our writers will create an original "Londons Ships of Historical Interest Partnership Marketing Plan" essay for you Create order With careful, focused and well-executed marketing, the London Ships has a very real opportunity to attract large numbers of tourists who, every year, visit the UK and its capital city for its unique and undisputed history. Objectives The historic London Ships are themselves a valuable and worthwhile source of information that has seen its purpose unrecognised over recent years perhaps by younger generations not reminded of Britains rich sea trade and heritage. The main business objective therefore should revolve around the awareness of the London Ships as a brand.One of the four dimensions of brand equity (Aaker, 2000) is brand awareness and is seen as the platform for creating a successful global brand. Focusing marketing efforts towards increasing brand awareness is therefore the most efficient method to achieve the companys long-term objectives. What follows is a summary of the companys primary objectives; ? Increase the awareness of the work of London Ships Partnership within the tourism market, both domestically and internationally. ? Establish the London Ships Partnership as a brand in key international tourism markets. ? Increase awareness amongst the tourism market of each member vessel and their historical importance. An analysis of the marketing environment in the international tourism market is needed to establish these objectives in a measurable approach so as to execute a clear and cohesive marketing strategy. Marketing Environment Micro-environment It is important to analysis the micro environment before establishing a strategy or plan. Detailed knowledge of your company and the surrounding issues help with the cohesion of a strategy, and utilizing strengths whilst being aware of threats will mean you are more likely to achieve objectives at a lower risk. Firstly, we shall examination the internals of LSP with a SWOT analysis, as follows; Strengths ? Long naval history and tradition mean greater pull for tourists. ? Weak UK pound; more attractive destination for Europeans. ? London Ships Partnership already an established brand. Weaknesses ? Low awareness of LSP amongst younger generation. ? Recession fears may still stave off spending. Opportunities ? Capital city location; large catchment of tourists. ? Diverse range of ships. ? Opportunity to improve website facility. Threats ? Rival tourist ‘hotspots means increased competition. By focusing on strengths, LSP therefore has the opportunity to become an established brand. LSP already have the elements required to form a strong brand such as Memorability, Meaningfulness and Likeability (Keller, 2003). It is a source of rich history, part of Britains naval heritage and also covers large periods of history, offering a range of vessels meaning it has strong and durable characteristics that are easily transferable to certain international markets. An example of this would be the inclusion of the oldest vessel on show, a replica of The Golden Hinde, originally built in 1577, highlighting Britains rich history. The weakening of the Sterling against the Euro means that the UK may become a more attractive destination for visitation, especially for tourists who fall within the Euro Zone who will receive more their money. As a result, LSP could benefit from a possible influx of tourists during the winter season for weekend breaks, or longer stays during the summer of 2011. One counter arg ument that could be made is that global recession fears may still halter peoples spending of disposable income, resulting in the lessening of holidaying. Although this may increase domestic tourism, it doesnt help achieve the objective of increasing awareness in untapped international markets. A possible lucrative opportunity of LSP to increase awareness is the improving of its website. Although already accessible internationally, amendments could be made to the language settings facility, meaning that a language barrier isnt an issue when customers may research LSP. This SWOT analysis has provided us with an overview of the internal factors of LSP, but an analysis of the macro-environment will be necessary before deciding upon the best marketing strategy. Macro-environment The macro-environment, or external factors, that affect LSP are ever-more critical in a globalised business world. Considering LSPs primary objective of increasing awareness in international mar kets, these uncontrollable issues have to be considered before launching a marketing strategy into foreign markets. What follows is a PEST analysis; a summary of external issues and highlights potential problems; Launching a campaign in overseas countries/markets; Political ? What is the tax system in this particular county? Is there laws or regulations that need to be addressed? ? Does this country have editorial or advertising standards that you must adhere to? ? Is this country politically stable? Economic ? What is the GDP of this country? Are their long-term economic prospects stable? ? What are the inflation or interest rates of this country? ? How has this country recovered from the economic crisis? Socio-cultural ? Is language a potential barrier for marketing communications? ? Are there any issues of sensitivity regarding its history with Britain or the ships themselves? ? Is there a large enough middle-class regarding levels of disposable income? Technological ? How much of the population of this country have access to the internet? ? What advertising method would be the most efficient, regarding media channels? Economic issues are likely to be central to the decision making process for a marketing strategy regarding the uncertainty of global markets since the global recession of 2008 took hold of most markets in the west and markets that rely heavily on financial services. The current GDP figures and interest rates of each country will correspond to the amount of disposable income of the mass populous. The tourism market especially relies on economic ‘booms when people, and especially the middle classes, have disposable income which is intended to be spent on a non-essential holiday; how have people responded to the recession concerning their spending habits? Social factors may also have a significant impact on holiday makers desire to see maritime vessels; does the country have its own shipping histo ry, therefore diminishing the desire to see such ships in London? This may rule out European countries such as France, Portugal and Spain as a potential target market. Market Identification Rather than offering a standard marketing strategy to everyone, it is much more efficient and economical to target a specific target market. This way, all marketing efforts are consolidated into one, clear and cohesive strategy that penetrates the markets chosen and increases the likelihood of successfully completing objectives. In the previous section, we have underlined the issues and implications of launching a marketing strategy on a global scale. Before arriving at a decision, we can segment the market further, deciding upon the most likely demographic to benefit from a marketing strategy. Our target audience must have a high socio-economic status as a high level of disposable income is required to be able to visit the UK, which is a particularly expensive destination to visit and holiday in. This therefore would not include places of low GDP or markets that are still in recession or slow to emerge to a full economic recovery, such as Greece or Spain. Also, as the Euro currency is currently struggling, it may not benefit LSP to target certain economies within the Euro Zone. As we have established previously, perhaps it would be fair to also not include France or Portugal as they already have their own rich naval history and would therefore already likely be aware of the London Ships brand. Another reason may be lack of demand to see the ships themselves, with these nations having similar tourist attractions themselves, proving that any marketing efforts would be uneconomical. It would be more efficient to focus these efforts towards a market that may be unfamiliar with the ships and its history, thus creating demand which in turn would achieve a longer-term business objective of future sales targets. Age can be a deciding factor when selecting the right demographic to fit a successful marketing campaign although it was stated in the brief that through workshops and events involving The Golden Hinde, LSP reached over 20,000 children. Fami lies are therefore a possible target, however a difference needs to be distinguished between target audience and target market. If we consider that children up to the age of 16 can be part of the target audience, we should deliver the marketing strategy and message to the parents, who make up the target market. However, we should acknowledge children within the message we try to deliver, to make our campaign more inclusive. Emerging overseas markets, in particular China, would offer us a huge catchment of middle-class, wealthy couples and families with high disposable income. As China becomes the second largest economy in the world (The Guardian, 16.8.2010) and a booming new free market economy, millions more are moving up to the middle-class and are becoming ever wealthier. In this free market economy, a new China results in wealthy Chinese travelling far and giving other countries a huge boost in tourism. An example of this being an increase of 80% of Chinese tourists vi siting its neighbouring country and economic rival, Japan (The Guardian, 16.8.2010). If we also factor in the likelihood of Chinese tourists not already aware of Britains naval heritage, and acknowledging Chinas huge population, it therefore leaves a large target market that will ultimately lead to an increase in demand. For clarity, here are the findings for Market Identification; ? The target demographic for London Ships Partnership are wealthy, middle-class and aged between 30 – 65 who possibly have children, one or more. The chosen market is China. ? The target audience includes children up to the age of 16. Marketing Objectives We have already established the overall business objectives for London Ships Partnership, but we need to set the marketing objectives. These are required to be quantifiable, clear and within a timeframe (Jobber, 2004). If we consider our target market and audience identified and allowing for any possible budget or labour restraints, we can come to a marketing objective that is realistic, efficient and economical. As follows; ? To increase brand awareness amongst our target market by 10% between 30th September 2010 and 30th September 2011. A modest figure of a 10% increase in awareness is required due to the large numbers that fall into the target demographic. For purposes of clarity, stating the dates in which to complete the objectives helps in the execution and cohesion of the marketing strategy and of all departments of the organisation. Selecting the correct marketing strategy and marketing mix is essential to carry through the stated objective, of which we will discu ss in the following section. Marketing Strategy Choosing the correct marketing mix is essential and all components must complement each other and be focused upon a single goal. Presented here is each component of the marketing mix and what methods will be selected; Product The product in this case is the defining characteristic of this particular brand. Emphasis on London Ships Partnerships brand equity, in particular brand image should be carried through the promotion of the marketing mix to successfully create a strong reputation. The ships themselves are part of Britains rich history which penetrates deep into the culture of naval heritage; therefore these characteristics should be part of the message for the marketing campaign. Highlighting brand image creates a strong overall brand and is a powerful tool in changing customers attitudes and buying habits. Considering this, the strategy to employ is the Current Product / New Market. In this case, we are enteri ng a fresh market in an unfamiliar country, but with our service in its current form. This clear direction should help implement and thrust the strategy forward. Price The product here is essentially a service and what you receive as part of this service is being part of history; seeing and experiencing hundreds of years of naval heritage. The product, or service, is free. These two elements should be combined to get the correct message across to the target market and in creating a unique selling point. Exclaiming that you have a rich and rewarding experience for no cost shouldnt be ignored, instead it should be part of the marketing strategy. Place Being based in London provides an excellent backdrop for giving the customer an enjoyable experience. London, itself being one of the most famous cities in the world, and having a rich history itself, means that it lends itself well and is consistent with the message that we are trying to get across; history, tradition a nd heritage. Place as part of the marketing mix, is essentially intangible, which means that it is often uncontrollable as to the experience the customer has. We can therefore, bring another ‘P into the mix; People. Delivering the message that LSP has excellent customer service that complements an already enjoyable experience, results in a stronger and more effective message. Promotion In purely marketing terms, Promotion is often the most important part of the marketing mix, and is always the last element to execute. To meet our marketing objective we are essentially required to deliver a message to our target market. The strategy for promotion in the case of LSP is Pull Strategy; we are creating awareness followed by demand for the product. Through integrated marketing communications we are able to deliver a message that is consistent and efficient. The marketing communications mix is as follows; ? Personal Selling ? Sales Promotion ? Public Relations ? Direct Marketing ? Advertising Using these ‘tools as an integrated mix we can deliver a single consistent message. Due to budgetary reasons (which we will discuss in further detail) it may be more economical to concentrate on delivering this message through advertising. Advertising is non-personal and is used for mass consumption, usually through mass media. Our primary marketing objective is to increase awareness and mass advertising would be the most efficient way of doing this, and can often be the cheapest option as the message is being delivered to the maximum people in the target market. Action Plan Goals Department Timescale Develop task frame for All 7 Days marketing campaign Set budget for marketing Financial 14 Days campaign Select media channels Marketing 14 Days for promotion and advertising. Launch marketing Marketing 9 Days campaign Marketing Budget An overview of the likely spending on the promotional tools used to implement the marketing strategy must be considered by the relevant department. In the case of the London Ships Partnership there might be issues regarding government grants or council subsidies which would affect the scale and size of a communications strategy. If the funding for the marketing campaign is reliant on a small share of profits, then decisions have to be made regarding the distribution of capital to each promotional tool. Regarding advertising for example, would it be more efficient to spend a high amount on a television advert in China reaching large numbers of people, or a more personal form of advertising to strengthen the message? Evaluation/Critical Issues The creation of any marketing strategy should begin with market research. Knowledge of the markets will lead to an understanding of the required target market and the better you know who you are focusing marketing efforts on, the better equipped you are at achieving objectives. Marketing objectives should be clear, concise and cohesive but is the objective that we decided upon flexible enough to alter after six months, if the strategy isnt working? This highlights the need to deliver a consistent message as part of the marketing communications campaign. It is far more efficient to deliver one simple message to a specified target market or audience. Therefore, all departments responsible for the strategy need to communicate internally so as to be focused enough to execute successfully. Earlier in the marketing plan, we highlighted the necessity of analysing the environment, both micro and macro. Some external factors, which are uncontrollable, could prove problematic. An example of this is the current global economic state, and the uncertainty that still remains in some markets. Despite China growing rapidly, it may still be at risk as it may struggle to sustain such huge year-on-year growth, claim investment group Marc Faber. Its GDP per capita still remains at only $3,600 (The Guardian 16.8.2010). However, despite any cynicism, China is an emerging market with a growing middle-class and is therefore cause for optimism for the UK tourism market and for the London Ships Partnership. Bibliography Aaker, D and Joachimsthaler, E. (2000) Brand Leadership. NY, US, Free Press Business. Jobber, D. (2004) Principles and Practice of Marketing. 4th Ed. London, McGraw Hill. Jones, G. (2007) Organisational Theory, Design and Change. 5th Ed. NJ, US, Prentice Hall. Keegan, W and Green, M. (2005) Global Marketing. 4th Ed. US, Pearson Prentice Hall. Keegan, W. (1999) Global Marketing Management. 6th Ed. NJ, US, Prentice Hall. Keller, K. (2003) Strategic Brand Management: Building, Measuring and Managing Brand Equity. 2nd Ed. NJ, US, Pearson Education Ltd. Van Gelder, S. (2003) Global Brand Strategy: Unlocking Branding Potential Across Countries, Cultures Markets. London/VA, US, Kogan Page. The Guardian (2010) China Overtakes Japan As Second Largest Economy (Internet) Guardian Online. Available from: https://www.guardian.co.uk/business/2010/aug/16/china-overtakes-japan-second-largest-economy (Accessed 17.8.2010) The Guardian (2010) Chinas Cash Rich Visit Japan ( Internet) Guardian Online. Available from: https://www.guardian.co.uk/world/2010/aug/16/china-rich-tourists-visit-japan (Accessed 17.8.2010)