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Organisation culture essay
Corporate governance assignment essay
Organisation culture essay
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Executive Summary
This case shows us the importance of company¡¯s core principles and makes us think how to keep the values of the principles and renew the organization. Guaranty Trust Bank has three main principles when it is founded. Those three principles are ¡°Integrity,¡± ¡°Professionalism¡± and ¡°Honesty.¡± Even though the environment was not good for the banks in Nigeria, GTB had been successful. Because it has a strong culture which represents three principles as above. And strategies the company applied to the society in order to fit with national culture worked effectively. For example, it funded at initial investment differently from what the common Nigerian banks did and grew rapidly. It became one of two commercial banks to receive a good rating in the survey. The bank is a really local success story. As the organization grew bigger, GTB had challenges on company¡¯s principles. A lot of employees including managers didn¡¯t pay the tax to the government properly. That could give harmful damage to the company. I argued some solutions about how to handle challenges Adeola faced. I suggested that GTB set up its principle sharing system, consolidate middle management, modify recruit system and reconstruct the organizations.
I can clearly say that ¡°Integrity,¡± ¡°Professionalism¡± and ¡°Honesty¡± are the main principles the GBT founded on. When I look at the reasons why Fola Adeola and Tayo Adeola left Continental Merchant Bank, the reasons represented Fola and Adela¡¯s basic idea about what the bank should be. At that time, Adela and Tayo thought Continental Merchant Bank¡¯s owners saw banking as a peripheral extension of their own business interests with neither the integrity nor professionalism that Adeola and Tayo sought.
When they started Guaranty Trust Bank PLC Nigeria, they need to raise quite a lot of money amount to 2.5million dollars. What the common way for banks in Nigeria to gather fund at the initial stage is to go to one or two politically powerful investors. And the banks rely on political favoritism, privileged position and varied degrees of corruption to help the banks themselves survive. But, Adeola and Tayo did differently.
Prior to Fuller’s transfer, management at the Carson’s location was poorly run using the classical approach. While this approach can be successful, management has to find a good middle ground between caring for the company and caring about their employees. A traditional classical approach recognizes that there are five important factors to running a successful business (Miller, 19). According to text, these factors are planning, organizing, command, coordination and control (Miller, 19-20). These factors can be seen when you look at Third Bank as a whole. In the study, the CEO saw the issues in his company and put a plan together to improve. He had meetings with management, like fuller, to organize a solution. He then commanded all locations
This short report aims to give a brief overview of Deutsche Bank’s alarming situation and describe the sharp decrease of its profitability. It will briefly introduce the context of this crisis and aim to explain it through an analysis of one of the most used indicators of performance for banks, the return on equity (ROE).
According to Kantooz and O’ Donnell, the principles of management are the fundamental truth of general validity, in which these truths are the guiding foundations in executing of the management functions and solution to problems that may arise (Gupta, 2009). Management, like every form of social science, has a developed set of principles, as management is also considered a type of social science, therefore has developed a number of principles of management. A famous French industrialist by the name of Henry Foyol, has introduced a set of 14 principles of management back in 1916 that is still widely considered by many authors (Gupta, 2009). This essay will look at comparing two companies which are based in Dubai, which are Virgin
This case study is based on an outline and the research aspects of the Wells Fargo banking organization, and how they value their employees regarding service through missions, values and diversity. This paper is in detail to explain the enduring principles that guide all of Wells Fargo team members in the work the accomplish every day
The Igbo laws and principles contain specific information that describe the laws more, and help understand more about the Igbo. The principles of Igbo gives many specific information on who the Igbo people are and helps the reader understand more about them. In the article Igbo Political Systems by Uzoma Onyemaechi it states, “The Igbo social structure is defined by the bloodline...The family is the center or the nucleus into which the he child compound is formed. From here it extends to village level, clans, and town. The blood relations create associations between man and his neighbor.” The Igbo is also one of the largest tribes in Nigeria today. For example, in the article The Principle And Practices Of Justice In Traditional Igbo Jurisprudence
Organizations that only have top management as the board members are more susceptible to accounting malpractices. Members of the board should preferably own shares in the company to ensure diligence when it comes to the interests of the company. Apart from the Board of Governors, there should also be an audit committee in place to oversee the financial dealings of the bank. Members of the board and the audit committee should have basic financial knowledge. Some of the members should also be experts in finances so that they can detect any anomaly that may take place in terms of financial reporting. An overhaul of the regulatory framework is required to empower authorities to intervene immediately, and make improvements. New technology is required. Manual antiquated processes should be eliminated because this causes greater human error and poor
(d) As a development advocate: These banks also help in promoting the ‘business of development’ such as job generation, domestic resource mobilization, countryside development, urban renewal, etc.
Nigeria is a developing country in West Africa that was colonized by the British in 1884 at the Berlin conference where Africa was divided by European powers (Graham 2009). The British wanted to expand their empire, which meant taking over other countries that had resources that they wanted, and would allow them to expand their trade market and economy. One of the colonies that British colonized was Colonial Nigeria, which was forced to participate in the slave trade in the past and was controlled by the British through the set up of trading posts and selling manufactured goods. The British split Nigeria into the north and the south regions (Temple 1912). The Southern and Northern Nigeria Protectorates controlled these two regions. The Protectorates
With the additional capital that the bank brought from the recapitalisation program, it also strengths our ability to expand our business beyond our first point of call which was Benin ((BDM_g2 December 2015)
Corruption can be defined as the use of entrusted power to accumulate public wealthy for personal benefit. Corruption is not peculiar to any country, continent or state; it is sure a global issue which is an endemic to all government all over the world. However, corruption is prevalent in the Niger delta region of Nigeria; public officers in this oil producing state of Nigeria are corrupt. Consequently, it has defied the Niger delta from developing politically and economically which has left the states reputation in a mess. Radicalization of youths, abject poverty and -political instability are the three leading effects of corruption in the Niger delta region of Nigeria.
The study is primarily designed to find out the continuous issue of the banking system in
Nigeria was first colonized by the British in the late nineteenth century who, set up an administrative structure and law while still recognizing the traditional morals. By 1960, Nigeria became an independent country and officially became known as the Federal Republic of Nigeria. Nigeria is located in West Africa and consists of 36 states with over 500 different ethnic groups. The country recognizes itself as a federal constitutional republic and has an open to the public type government. Since it was originally established by Britain, the Nigerian legal system is very traceable to them and originated its laws from common law. This paper will examine the culture of Nigeria, the fundamentals of its’ legal system and how laws are passed, legal actors that are part of the Nigerian criminal justice system, and will compare Nigeria to America.
Bank Alfalah has emerged as one of the leading commercial banks in the financial sector of Pakistan. Bank has made major giving ...
NIGERIA AND THE PATH OF ECONOMIC PROSPERITY. Economic development is a term that economists, politicians, and others have used frequently since the 20th Century. The concept, however, has been in existence in the West for centuries. The term refers to economic growth accompanied by changes in output distribution and economic structure. It is concerned with quality improvements, the introduction of new goods and services, risk mitigation and the dynamics of innovation and entrepreneurship.
A variety of groups are concerned in bank profitability for various reasons. The bank shareholders would want to know if the value of their investments is high or low. The investors also use current and past performance to predict future price of the banks’ shares traded on the stock exchanged. The management of the bank as trustee of the shareholders is evaluated and compensated on the basis of how well their decisions and planning have contributed to growth in assets and profits of their banks. Employees of bank also are concerned with profits, since their salaries and promotions are frequently tied to the profitability performance of their banks. Depositors use bank performance and profitability as indicators of security for their deposits in the banks. Finally, business community and general public are concerned about their banks’ performance to the extent that their economic prosperity is linked to the success or failure of their banks.