How to write a business report about a Bank?
Dedication:
I dedicate this report affectionately to the followings,
My father, Zeshan Ahmad
My brothers, Kashif and Asif
My sister, Fozia
My little nieces, Arwah and Marwah
My brother-in-law, Akbar
My Best Friend, Hania
Acknowledgment:
Welcome to Managing Change and Innovation’s Report. I’m pleased that you’ve chosen to read this submission and I hope it will help you to understand minor and major changes in structure, people and technology in Habib Bank Limited and The Bank of Punjab. My aim has been to provide better understanding of basic differences between aforementioned Banks. I’ve tried to remain faithful with my tasks and given assignment so that I may meet the deadline. I hope that it will be easily understandable for the reader – regardless of reader’s experience and background.
I wish to acknowledge certain individuals for their contribution towards the production of this report. I would like to thank my family with sincere gratitude for their unconditional support. I would like to offer sincere thanks to many people who have influenced me and contributed to the development and production of this report. Many students have helped me to stimulate my ideas, especially those who assessed and reviewed my work. I am grateful to the following colleagues and collaborators who have helped me directly or indirectly:
Farhan Ahmad, Muhammad Sheraz, Aslam Niazi, Mirza Muhammad Amir, Usman Ahmad, Usman Khattak and Hania Jabbar. Lastly, I wish to humbly acknowledge with sincere gratitude, my supervisor Professor Muhammad Asif Malik for her advice and guidance during the writing of this report. It is her persistent criticism that brought hope and confidence in me, even at the most depressing moments. She was truly a source of inspiration. Ma’am’s support has certainly made studying at ISP an enhancing and developmental experience.
Although the views and opinions expressed in the report remain my own, my ability to engage with the debates and discussions remain the responsibility of my supervisor and the other lecturers in the ISP, all of whom helped in various capacities.
I’d be delighted to hear your opinion of this report and receive any suggestions you have for additions and improvements.
Introduction:
Managing change and innovation are an alteration of a company/institute or organization’s environment, structure, technology, or people. Because change and innovation are an organizational reality, handling it is a necessary part of every manager’s job.
What can a manager change?
There are three categories: structure, technology, and people.
• Changes in structure consist of altering relationships, redesigning jobs, coordinating mechanisms, and modifying spans of control.
• Changes in technology consist of revising work processes, changing work methods, and acquiring new equipment.
• Changes in people consist of altering expectations, attitudes, perceptions, and behaviour.
Change, innovation, quality, expertise and creativity are familiar concepts when it comes to organizational change. During the past decades numerous theories and concepts have been developed to face the challenges of complex societies and to fundamentally improve organizational structures.
There are some external forces which can put some pressure on any organization’s change and innovation which are as follows;
· Competition
· Government Programs
· Economic Conditions
· Technology
The external forces of change come from various sources. In recent years, the marketplace has affected firms by introducing new competition. Bell Atlantic, for example, is experiencing competition from cable companies to provide local phone service.
Government laws and regulations are also an impetus for change. In 1990 the passage of the Americans with Disabilities Act required businesses to widen doorways, reconfigure restrooms, add ramps, and take other actions to improve accessibility.
Technology also causes change. In the new millennium, the e-commerce and the Internet have changed how I sell products and access information.
Economic changes, of course, affect almost all organizations. Dramatic decreases in interest rates in the late 1990s fostered significant growth in the housing market. This meant more jobs, more people working, and more sales for other businesses that support the building industry.
Body of Report:
The term "Bank" is derived from an Italian word "BANKO" which means "Bench" that is where people were to meet and solve their financial matters.
The term bank is being used for a long time yet it has no precise definition. The basic reason is that the banks perform not just one but many types of functions originally the banks were supposed to make short term loans to the traders only. The banks now not only make short term loans to the formers, traders, industrialist etc. But also invest in a wide variety of long term earning assets.
The commercial banks also undertake and execute trust, deal in stock, shares and debentures, issue guaranties and indemnities underwrite and sell new securities, and deal in foreign exchange etc.
However some of the definitions of bank from different authors are as follows.
Dr. Hart says;
"Banker or bank is a person or company carrying on business of receiving money and collecting drafts for the customers subject to the obligation of honoring cheques drawn upon them from time to time by customers to the extends of the amounts available on their currents accounts"
In the words of G W Gilbert;
"A banker is a dealer in capital or more properly a dealer in money. He is an intermediate party between the borrower and lender. He borrows one party and lends to another."
Types of Bank:
1. Central bank or state bank.
2. Commercial bank.
3. Exchange bank.
4. Industrial bank.
5. Agriculture bank.
6. Investment bank.
7. Saving bank.
Central Bank or State Bank:
Every country has its central bank or state bank. Its major function is to carry out a country's monetary policy with an aim to safeguard its financial and economic stability. It has the monopoly of note issue. It is also the custodian of money market. State bank is the Banks bank and lender to the government.
Commercial Bank:
Commercial banks are profit earning concerns. They receive deposits and advance loans to borrow. They greatly help in financing for internal and external trade of the country.
Exchange Bank:
The main function of the exchange bank is to finance the foreign trade by the purchase and sale of foreign currencies in the form of drafts, bills of exchange, telegraphic transfers. They also perform the function of commercial bank. Receiving deposits and advancing loans.
Industrial Bank:
Commercial bank cannot afford to block their funds in long term investments. The industrial banks receive long term deposits and finance the industries by providing them long term credits. In Pakistan the Industrial bank named as Industrial Development Bank of Pakistan (I.D.B.P) was established in 1961 for this purpose.
Agricultural Bank:
Agricultural bank provides short and long period loans for financing agriculture. The agriculturists need short and long term loans for meeting their day to day and long term requirements for making permanent improvement in the land. In Pakistan Agricultural Bank is named as Agricultural Development bank of Pakistan (A.D.B.P) and it was established in 1961.
Investment Bank:
The main function of investment bank is merchandising of shares and other securities, managing and distributing the issue of shares and other securities.
Saving Bank:
These are the institutions which are sponsored by the government for having facilities to the people and small means. These banks collect small saving of people and allow them to withdraw in small amounts. Also another institution i.e. National Savings is working in the same capacity.
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