HRM Practice on Jamuna Bank Essay Example

HRM Practice on Jamuna Bank Essay Background of the study: Introductory Part 1. 1 Preface: In today’s world, education is the imperative tool for understand the real world and apply knowledge for betterment of the society as like as in business sector. From the education session the theoretical knowledge is obtained from various analyses throughout the programs, which is only the half way of the subject matter. As practical orientation is an integral part of the BBA program, every student is sent by the department to different organization to take real life exposure from the activities of the organization, which is known as â€Å"Internship Program†. That program is taken when the student is at the leg of his/her Bachelor Degree. Internship program brings student closer to the real life situation and thereby helps to launch a career graduates within the local environment with knowledge and skill to provide leadership in enterprise, public service and Welfare of Their society. Internship placement of this department is a step towards fulfilling this commitment by giving students an opportunity to get ready for the real world before they enter their practical life. Involvement of the banking sector in different financial events is increasing day by day. At the same time the financial arena is becoming faster, customer focused and its involvement got unavoidable in their everyday life. Now a day, it has become essential for every person to have some ideas on the economics and mostly on banking procedure. In the internship program, each student is attached with an organization . Under this program students of BBA faculty must go through an internship program of 3 months duration. After completion of several credit theories from the department of the Business Studies faculty, students are sent to different organizations to expose them real life scenario . We will write a custom essay sample on HRM Practice on Jamuna Bank specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on HRM Practice on Jamuna Bank specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on HRM Practice on Jamuna Bank specifically for you FOR ONLY $16.38 $13.9/page Hire Writer The theoretical knowledge that students acquire from class lecture, books, journals, case studies, seminars etc is replenished in the practical settings. My internship placement was at Jamuna Bank Limited, Jubilee Road Islamic Banking Branch. I was asked to prepare internship paper on the assigned topic of â€Å"Prospectus of HRM Practice in Private Bank by a Case Study in Jamuna Bank Ltd† 1. 2 Objective of the study: A. General: The general objective of this study is to know about HRM system Problem in private banks in Bangladesh regarding Jamuna Bank Ltd that has been performed by HRD. B. Specific: * To familiarize with practical job environment. * To have an exposure on the financial institutions such as banking environment of Bangladesh * To gain experience on different functions of banking business in Bangladesh. * To know about the Human Resource practice in Jamuna Bank Ltd in banking sector. * To know about the Human Resource policies and practices at Jamuna Bank Ltd. * To know about Human Resource planning in Jamuna Bank Ltd. * To gather the actual knowledge about the Human Resource operations in the organizations. * To know about the training development methods. To know performance appraisal system. * To identify the problems if any. * To provide suggestions. * To identify the problem and the lacking of man power. * To identify the problem of HRM departments * To provide the solution for better HRD system * To ensure the workforce regarding HRM 1. 3 Methodology of the Study: In order to complete this report I proceeded through a work plan. I physically visit ed and discussed with executives of Jamuna Bank Ltd become conversant with the banks philosophy, working procedures, management system and decision making process of the banks. The details of the work plan are furnished below: Primary Data: * Practical work exposure. * Face to face conversation with respective officers stuffs. * Data collection by own supervision. Secondary Data: * Annual report 2010 2011 of Jamuna Bank Ltd. * Official website of the bank. * Various books, Articles etc. * Periodicals published by Bangladesh Bank. 1. 4 Data collection method: * Relevant data for this report has been collected primarily by direct investigations of different records, papers, documents etc. perational process and different concerned personnel. The interviews they’re administered by formal and informal discussion. No structured questionnaire has been used. Information regarding office activities of the bank has been collected through consulting bank records and discussion with office personnel. Data Strategies: * The information and data for this report have been collected from both the primary and secondary Strategies. 1. 5 Scope of the study: The stud y is only related in Jamuna Bank Limited, Jubilee Branch, and Chittagong. This report focuses on the overview of management organizational structure and mainly HRM Policy others functional departments such as Accounts, Foreign Exchange Remittance, Loan Advance, customer service, SME etc. I have learned the procedure and policies relevant to their work. 1. 6 Limitations of the study: Although I have got co-operation from employee of Jamuna Bank Ltd, Jubilee Br. they also gave me much time to make this report properly in the way of my study, I have faced many problems that may be termed as the limitation/shortcoming of the study. . Time limits: It should be certainly mentioned that the time constraints is that first limitation of the study. Only three months is not sufficient for gather prefect knowledge on the vast area of the â€Å"Human Resource Management its problems† 2. Data Collection: †¢ In some cases they could not be able to supply my topic related data for preparing a more in depth presentation. †¢ It was also seen that maxim um time they are found busy and many officers related my topics are not able to give enough time and briefings due to insufficiency of time. 3. Lack of Practical Knowledge: For the lack of their practical knowledge, some shortcoming may be available in the Paper. In some cases, I could not practically involve because of bank’s limitations and for riskiness. 4. Personal Limitations: My personal limitations also contributed greatly in making the study. 2. 1 Banking System in Bangladesh: Banks constitute an important segment of the financial infrastructure of any country. The economic history of many countries reveals that economic development and growth of financial infrastructure go hand in hand. Bangladesh Bank is the central bank of the country that controls the total banking system of the state. Structure of Banking System in Bangladesh is as follows: Bangladesh Bank Development Financial Instructions Commercial Banks Specialized banks Nationalized Commercial Banks Denationalized Banks Private Commercial Banks Banks run on Islamic Principals Foreign Banks 2. 2 Role of Private Banks in the Economic development of Bangladesh: Now days, private bank deal with a large number of matters. By introducing medium of stocks, share and other valuables they help economic activities of this country. Bankers collect a small amount of deposits from the public and help in the formation of capital and simultaneously help in the development in the industry, commerce, trade, agriculture etc. by providing loans and advances to entrepreneurs. They advance money on securities, and issue letters of credit, traveler’s cheques, ATM credit cards; circular notes etc. moreover, private banking companies may engage themselves in the following activities: * The Borrowing, raising or taking up the money Acting as a agents for the government or local authority or any other persons * Contracting for private or public loans and negotiating and issuing the same * Underwriting, participating in management and carrying out of any issue, public or private of government, municipal or other loaners of shares, stocks, debentures of any company, corporation of association and the lending of money for the purpose of any such issue * Carrying in and transacting every kind of guarantee and industry bus iness * Managing, dealing and realizing any property that may come into the possession of the company in satisfaction of its claims. Acquiring and holding and generally dealing with any right, title or interest in any such property which may be connected with any such security. * Undertaking and executing trust * Undertaking the administration of estates as executor, trustee or otherwise. These services of the private banks make major role in the economic development of their country. The prime objectives of the private bank are to help industrialization and commerce in the country and thereby contribute its mite to the national development. With these ends in view it has planned diversified investment portfolio. 2. 3 Historical Review of Jamuna Bank Limited: Jamuna Bank Limited (JBL) is a Banking Company registered under the Companies Act, 1994 with its Head Office at Chini Shilpa Bhaban, 3, Dilkusha C/A, Dhaka-1000. The Bank started its operation from 3rd June 2001. The Bank under takes all types of banking transactions to support the development of trade and commerce of the country. JBLs services are also available for the entrepreneurs to set up new ventures and BMRE of industrial units. Jamuna Bank Ltd. the only Bengali named new generation private commercial   bank was established by a group of winning local entrepreneurs conceiving an idea of creating a model banking institution with different outlook to offer the valued customers,   a comprehensive range of financial services and innovative products for sustainable mutual growth and prosperity. The sponsors are reputed personalities in the field of trade, commerce and industries. The Bank is being managed and operated by a group of highly educated and professional team with diversified experience in finance and banking. The Management of the bank constantly focuses on understanding and anticipating customer’s needs. The scenario of banking business is changing day by day, so the banks responsibility is to device strategy and new products to cope with the changing environment. Jamuna Bank Ltd. has already achieved tremendous progress within only ten years. The bank has already ranked as one of top quality service providers is known for its reputation. At present the Bank has real-time centralized Online banking branches (Urban Rural) throughout the Country having smart IT-Backbone. Besides these traditional delivery points, the bank has ATM of its own, sharing with other partner banks Consortium throughout the Country. 2. 4 Current Profile of Jamuna Bank Ltd: Within a short span of time Jamuna Bank has established itself as one of the fast growing local private banks. It has at present a network of 68 branches serving many of the leading corporate houses and is gradually moving towards retail banking. Another significant delivery channel is its own as shared ATM Network. Jamuna Bank has a network of 63 ATMs out of which 30 ATMs are ts owned. The other 33 are under common ownership as a member of Cash Link Bangladesh. Since its humble beginning in 2001, it set milestone by acquiring the business operations. The Board of Jamuna Bank comprises 15 Directors who possess a wide range of skills experiences over a range of professions. Md. Belal Hossain is the Chairman of the Board is the vice chairman of the board. The asset and liability growth has been remarkable . By Dec 2011 the total asset of the Bank grew to Tk. 7,712,39,07,521, increase of almost 28. 65% comparing to 2010. Deposits of the bank Are Tk. 6,067,35,64,672 during. Loans Advances reached Tk. 52,706,325,403. In 2011, Jamuna Bank achieved an operating profit of Tk. 991,180,577 Compared with Tk. 756,465,783 in previous year, a growth of 37. 39%. Jamuna Bank has been actively participating in the local money market as foreign currency market without exposing the Bank to vulnerable positions. The Bank’s investment in Treasury Bills and other securities noticeably opening up opportunities for enhancing income in the context of a regime of gradual interest rate decline. Jamuna Bank is maintaining its competitiveness by leveraging on its Online Banking Software and modern IT infrastructure. It is the pioneer amongst the local banks in introducing innovative products like internet banking, and under the ATM Network the Stellar Online Banking software enables direct linking of a client’s account, without the requirement for a separate account. Jamuna Bank has acted as the lead arranger in rising term loan for a number of projects under syndicated finance and also participated in some cases under such financing arrangement . The management of Jamuna Bank is determined to maintain and upgrade the quality of these Resources through continuous training upgrading technology to keep pace with market demands, new developments and practices of the competitors. Jamuna Bank entered the market at a line when economic policy environment of the country is poised for higher levels of business activities and growth. The prevailing macroeconomic management and the government’s determination to carry on reforms in the banking sector provide a supporting and encouraging environment. The bank has been restructured their seven main business which are responsible for earning the revenues of the bank. These are: Corporate Banking Personal Banking International Trade Finance Offshore Banking Services SME Banking Treasury and Cards 2. 5 Authorized Paid-up Capital: The Authorized Paid-up capital of the bank are tk 2,230,088,400. 2. 6 Corporate Information: Auditors: ACNABIN. Chartered Accountants BDBL Bhobon (13thFloor) 12 Kawran Bazar Commercial Area Dhaka 1215, Bangladesh. Registered Office:Jamuna Bank Limited Head Office 3, Dilkusha C/A, Dhaka 1000, Bangladesh Tel: 9570912, 9555141, Ext. 130 Fax: 880-2-9565762 website: www. jamunabankbd. com Engr. A. K. M. Mosharraf Hussain Al-haj M. A. Khayer 2. 7 Board of Directors: Golam Dastagir Gazi (Bir Protik) Fazlur Rahman Md. Sirajul Islam Varosha Md. Mahmudul Hoque MajumderShaheen Mahmud Md. Ismail Hossain Siraji Farhad Ahmed Akand Kanutosh Gazi Golam Murtoza Siraji Engr. Md. Atiqur Rahman Al-HajNur Mohammed A. S. M. Abdul Halim Independent Director 2. 8 Mission, Vision Slogan: MISSION: The Bank is committed to satisfying diverse needs of its customers through an array of products at a competitive price by using appropriate technology and providing timely service so that a sustainable growth, reasonable return and contribution to the development of the country can be ensured with a motivated and professional work-force. VISION: To become a leading banking institution and to play a pivotal role in the development of the country. SLOGAN: â€Å"Your partner for growth† MANAGING DIRECTOR / CEO 2. 9 MANAGEMENT HIERARCHY OF JAMUNA BANK LTD: DEPUTY MANAGING DIRECTOR SENIOR EXECUTIVE VICE PRESIDENT (SEVP) EXECUTIVE VICE PRESIDENT (EVP) SENIOR VICE PRESIDENT (SVP) VICE PRESIDENT (VP) FIRST VICE PRESIDENT (FVP) ASSISTANT VICE PRESIDENT (AVP) FIRST ASSISTANT VICE PRESIDENT (FAVP) SENIOR EXECUTIVE OFFICER M. T. O. EXECUTIVE OFFICER SENIOR OFFICER PROBATIONARY OFFICER OFFICER JUNIOR OFFICER ASSISTANT OFFICER BANKING OFFICER TELLER / TRAINEE OFFICER / RECEPTIONIST 2. 10 Functions of Jamuna Bank Ltd. i. The Main task of Jamuna Bank Limited is to accept deposited from various customers through various accounts. i. Provide loans on easy terms and conditions. iii. It creates loan deposits. iv. The bank invest it fund into profitable sectors. v. The bank is doing the transaction of bill of exchange, cheque etc. on behalf of the clients. vi. Jamuna Bank Ltd. assists in the Foreign Exchange by issuing Letter of Credit. vii. The Bank issues securities of valuable documents of clients. viii. It brings the increasing profit of dimension of transaction. 2. 11 Values of Jamuna Bank Ltd: Strategies of Jamuna Bank Ltd: To manage and operate the Bank in the most efficient manner to enhance financial performance and to control cost of fund| * To strive for customer satisfaction through quality control and delivery of timely services| * To identify customers credit and other banking needs and monitor their perception towards their performance in meeting those requirements. | * To review and update policies, procedures and practices to enhance the ability to extend better service to customers. | * To train and develop all employees and provide them adequate Resources so that customers needs can be reasonably addressed. * To promote organizational effectiveness by openly communicating company plans, policies, practices and procedures to employees in a timely fashion| Objectives of Jamuna Bank Ltd: * To earn and maintain CAMEL Rating Strong| * To establish relationship banking and improve service quality through development of Strategic Marketing Plans. | * To remain one of the best banks in Bangladesh in terms of profitability and assets quality. | * To introduce fully automated systems through integration of information technology. | * To ensure an adequate rate of return on investment. * To develop and retain a quality work-force through an effective human Resources Management System. | Business Objectives of Jamuna Bank Ltd: * Ensure 100% recovery of all advances. * Ensure a satisfied work force. * Make a sound loan and investment. * Build up a low cost fund base. * Meet capital adequacy recruitment at all the time. * Focus on fee based income. 2. 12 Products services of the jamuna bank ltd. 2. 12. 1 Corporate Banking The motto of JBLs  Corporate Banking services is to provide personalized solutions to their customers. The Bank distinguishes and identifies corporate customers need and designs tailored solutions accordingly. Jamuna Bank Ltd. offers a complete  range of  advisory, financing and operational services to its corporate client groups combining trade, treasury, investment and transactional banking activities in one package. Whether it is project finance, term loan, import or export deal, a working capital requirement or a forward cover for a foreign currency transaction, their Corporate Banking Managers will offer you the accurate solution. Corporate Banking business envelops a broad range of following sectors mainly: * Agro processing industry * Industry (Import Substitute / Export oriented * Textile Spinning,   Dyeing Printing  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Export Oriented Garments, Industries. Food Allied Paper Paper Products Engineering, Steel Mills Chemical and chemical products etc. * Telecommunications. * Information Technology * Real Estate Construction  · * Wholesale trade * Transport  · Hotels, Restaurants  · * Non Bank Financial Institutions Loan Syndication  · * Project Finance  · Investment Banking * Lease Finance  · Hire Purchase  · Intern ational Banking  · * Export Finance * Import Finance 2. 12. 2 Deposit: A strong deposit base is necessary for success of a Bank. During the year 2011 the Bank mobilized a substantial amount of deposit from mid-level income group people under Short Term Deposit (STD). Total Deposits in the year 2011 was TK. 62,875,675,561. JBL offers the following key Personal Banking Services: * Current Deposit Account * Savings Deposit Account * Short Term Deposit Account * Fixed Deposit Account No limit to the number of withdrawals * No minimum balance fee * Statement of account at their desired frequency * Free cheque book * Q-Cash Round the Clock Banking * All types of general banking facilities * Deposits : Graphical view (in millions) 2011201020112010 2. 12. 3 Loan Advance: Advances constitute the most significant indicator of the health of a Bank. The bank has formulated its policy to give priority to Small and Medium Enterprise (SME). And at the same time the bank is financing large-scale enterprise through consortium of banks. Jamuna Bank is committed to maintain a very high quality of assets. Close monitoring and efficient asset management has resulted in minimal creation of classified loans to total loans and advances. Total Loans and Advances amounted Tk 2,671,524,596 in 2011 against TK 1,072,839,508 in 2010. Jamuna Bank’s Advance portfolio is well diversified and covers a wide range of business and industries. The sectors financed include Manufacturing, Trading, Construction, Agriculture, Fishing Forestry, Pharmaceuticals, Information Technology, Customer Credit and Steel amongst others. 2. 12. 4 Personal Banking Division: Personal Banking Division (PBD) introduces to the customers with a variety of products. Their PBD continuously meets the challenges of developing new products and services to match the specific requirements of customers. Personal Banking Division (PBD) issues both VISA Debit Cards and VISA Credit Cards. VISA is the renowned Card brand in the earth. Jamuna Bank Limited is a principal member of VISA Worldwide. Remittance Cell is another successful wing of the Personal Banking Division. Their product range includes: 1) VISA Debit Cards You can now avail the convenience of VISA Debit Card. It is the easiest and the most secured way of utilizing their money for 24/7 retail purchases as Well as cash withdrawal. VISA Credit Cards The JBL Credit Card gives you a fast, convenient and reliable way to pay, 24 theories a day, wherever you are in the world. * VISA Classic * VISA Gold 2) International Credit Cards – JBL International Credit Cards (VISA) allows you flexibility and convenience when you travel internationally. The VISA International card entitles you to exclusive discounts worldwide. * VISA Dual (Gold) 3)JBL Remittance Cell – â€Å"Remit Fast† is the motto of JBL Remittance Cell. It provides the best faster services to its customers and connects the world through the renowned money exchange agencies. Such as Placid Nk Corporation, Moneygram Payment System Inc. 2. 12. 5 International Trade Finance: International Trade forms the major business activity undertaken by Jamuna Bank Ltd. The Bank with its worldwide correspondent network and close relationships with key financial institutions provides an extensive trade services network to handle their transactions efficiently. Their key branches throughout the country and Offshore Banking Unit (OBU) are staffed by personnel experienced in International Trade Finance. These offices are the focal point for processing import and Export transactions for both small and large corporate customers. They offer a complete range of Trade Finance services. Their professionals will work with you to develop solutions tailored to meet their requirements, through mobilizing their full range of trade services locally, and drawing on their global Resources. They can offer you professional advice on all aspects of International Trade requirements, namely: * Issuing, advising and confirming of Documentary Credits. * Pre-shipment and post-shipment finance. * Negotiation and purchase of Export Bills. * Discounting of Bills of Exchange. * Collection of Bills. * Foreign Currency Dealing etc. Offshore Banking Services Jamuna Bank Limited offers the following range of Offshore Banking services:- * Foreign Currency Deposits (Non Resident entities and NRBs), * Loans in Foreign Currencies, * Credit Facilities including Trade Financing, * Negotiation / Purchase of Export Bills, * Discounting of Export Bills, * Corporate Treasury Services etc. 2. 12. 6 NRB- Banking Foreign Remittance: Jamuna Bank Ltd is one of the most technologically advanced private commercial bank in the country having wide branch associate network throughout the Country. All the branches are running with real-time Online and ATM facilities to settle their transaction from remote areas. They have dedicated NRB desk to ensure personalized services to the valued customers at branch Head Office Level. They have an admirable Remittance Tie-up with a good number of world renowned Exchange Houses and Banks throughout the World to facilitate the Remittance services to the beneficiaries in both as Instant Cash (payment over the counter) and Account credit. Besides Their 66 branch network and ATM outlets throughout the Country, They have also a strong Remittance Settlement Network with different associate Banks, NGOs and Post Office, which cover more than 1000 remote locations throughout the Country. Their main purpose is to cater to the needs of NRBs their beneficiaries offering different products and services both deposit and investment like, FC A/C, NFCD A/C, FC Term Deposit, Wage earners development Bond, USD Premium Bond, USD Investment Bond, Govt. Treasury Bond, Investment in Capital Market through None Resident Investment Taka Account (NITA), Monthly Deposit Scheme, Monthly Income scheme, Double/ Triple growth deposit Scheme, Lakhopoti Deposit Scheme, Millionaire Deposit Scheme, Kotipoti Deposit Scheme, Education Savings Scheme, Marriage Deposit Scheme, Consumer Credit, etc. Prioritizing the needs of NRBs, They are in process to offer different personalized products services by establishing JBL own Exchange Houses in different Countries like UK, USA, Malaysia, Singapore, Italy, Spain, Australia, Japan, etc. They value their customers to provide prompt efficient services offering best competitive price for their hard-earning Foreign Currencies to facilitate Bangladesh bound remittance globally. 2. 12. 7 REAL ESTATE FINANCING Home ownership is a basic need and a dream of every individual. Since housing industry plays a vital role in the national economy, their bank has come forward for Real Estate financing for Individual as Developers. The main objective of Real Estate Financing is to promote Real Estate Developers and Individuals. Scope of Real Estate Loan: * For Construction of Residential Building [CRB] For Construction of Commercial Building [CCB] * For Flat Purchase [FP] * For Building Purchase [BP] * For Developers [DEV] * Purpose: 1) Construction / Extension / Renovation of Residential / Commercial Building. 2) Purchase of Building /Flat /Office Space /Chamber /Shops. * Minimum Income : 1) Net Income/Take home salary will be at least Tk. 40,000/-[forty thousand] per month. * Maxi mum Loan Size : 2) For Flat Purchase Tk. 75. 00 (seventy five) lac 3) For Building Purchase/Construction of Residential Building Tk. 100. 00 (one hundred) lac * Maximum Loan Tenure ) Up-to 15 (fifteen) years including 01(one) year grace period. * Maximum Loan Ratio: 2) 50% of total Purchase Price for Flat / Building. 3) 60% of total Construction cost for Residential/Commercial Building. 2. 12. 8 Credit Facilities: * The main focus of Jamuna Bank Ltd. Credit Line/Program is financing business, trade and industrial activities through an effective delivery system. * Jamuna Bank Ltd. offers credit to almost all sectors of commercial activities having productive purpose. * The loan portfolio of the Bank encompasses a wide range of credit programs. Credit is also offered to major thrust sectors, as earmarked by the govt. , at a reduced interest rate to develop frontier industries. * Credit facilities are offered to individuals including housewives, businessmen, small and big business hous es, traders, manufactures, corporate bodies, etc. * Loan is provided to the rural people for agricultural production and other off-farm activities. * Loan pricing system is customer friendly. * Prime customers enjoy prime rate in lending and other services. * Quick appreciation, appraisal, decision and disbursement are ensured. Credit facilities are extended as per guidelines of Bangladesh Bank (Central Bank of Bangladesh) and operational procedures of the Bank. 2. 12. 9 Foreign Trade: International Trade forms the major business activity undertaken by Jamuna Bank Ltd. The Bank with its worldwide correspondent network and close relationships with key financial institutions provides an extensive trade services network to handle their transactions efficiently. Their key branches throughout the country and Offshore Banking Unit (OBU) are staffed by personnel experienced in International Trade Finance. These offices are the focal point for processing import and Export transactions for both small and large corporate customers. They offer a complete range of Trade Finance services. Their professionals will work with you to develop solutions tailored to meet their requirements, through mobilizing Their full range of trade services locally, and drawing on Their global Resources. They can offer you professional advice on all aspects of International Trade requirements, namely: * Issuing, advising and confirming of Documentary Credits. * Pre-shipment and post-shipment finance. Negotiation and purchase of Export Bills. * Discounting of Bills of Exchange. * Collection of Bills. * Foreign Currency Dealing etc. 2. 12. 10 Import Business: The Bank gained amounting to TK 67,434,512 during 2011 showing a growth of 30. 0% over the volume of Tk. 51,239,873 in the year 2010. 2. 12. 11 Export Business: The total export handling by the bank amounted to TK. 3,965,839,730 for the year 2011 compared to TK 1,372,200,000 for 2010. Import Export: Graphical View 2. 12. 12 Corporate Banking: The motto of JBLs  Corporate Banking services is to provide personalized solutions to their customers. The Bank distinguishes and identifies corporate customers need and designs tailored solutions accordingly. Jamuna Bank Ltd. offers a complete  range of  advisory, financing and operational services to its corporate client groups combining trade, treasury, investment and transactional banking activities in one package. Whether it is project finance, term loan, import or export deal, a working capital requirement or a forward cover for a foreign currency transaction, Their Corporate Banking Managers will offer you the accurate solution. Their corporate Banking specialists will render high class service for  speedy approvals and efficient processing to satisfy customer needs. 2. 12. 13 International Trade Finance: International Trade forms the major business activity undertaken by Jamuna Bank Ltd. The Bank with its worldwide correspondent network and close relationships with key financial institutions provides an extensive trade services network to handle their transactions efficiently. Their key branches throughout the country and Offshore Banking Unit (OBU) are staffed by personnel experienced in International Trade Finance. These offices are the focal point for processing import and Export transactions for both small and large corporate customers. They offer a complete range of Trade Finance services. Their professionals will work with you to develop solutions tailored to meet their requirements, through mobilizing their full range of trade services locally, and drawing on Their global Resources. They can offer you professional advice on all aspects of International Trade requirements. 2. 12. 14 Shop Finance Scheme: Objectives: 01. To enable the small business community to run the business smoothly 02. Facilitating  expansion of the existing businesses 03. To improve the banking habit of self employed persons 04. To diversify banks lending to Small ; Medium Enterprises (SME) which are considered as less risky and help community developments. It may be noted down that the government is also encouraging investment in SME sector. 2. 12. 15 Consumer Banking: The consumer finance center has diversified its products ; facilities along with various incentives to customers having long relationship through recurring deposit accounts. They provide consumer loan for various products which are given below. . 12. 16 Q-Cash Round The Clock Banking: Jamuna Bank Q-Cash ATM Card enables you to withdraw cash and do a variety of banking transactions 24 theories a day. Q-Cash ATMs are conveniently located covering major shopping centers, business and residential areas in major cities. The network will expand to cover the whole country within a short span of time. With their Jamuna Bank Q-Cash ATM ca rd you can: * Cash withdrawal Round The Clock from any Q-Cash logo marked ATM booths. * POS transaction (shopping malls, restaurants, etc) * Enjoy overdraft facilities on the card (if approved) Utility Bill Payment facilities * Cash transaction facilities for selective branches nationwide   * ATM service available in Dhaka and Chittagong Withdrawal allocated from ATMs of Jamuna Bank Ltd. , AB Bank, The City Bank, Janata Bank, IFIC Bank, Mercantile Bank, Pubali Bank, Eastern Bank Ltd. respectively * And more to come Is Q-Cash In line with the issuance of Q-cash products JBL is going to introduce VISA card very soon. 2. 12. 17 Product Service on Credit: Product Service Consumer Credit Scheme (Coverage) Debit Cards Credit Cards Commercial Credit 1. House finance 2. Auto loan 3. Consumer durable loan 4. Loans for Professionals 5. Unsecured Personal loan 6. Senior citizen support 1. ATM Card 2. Credit Card 1. Over Draft (OD) 2. Secured Over Draft (SOD) 3. Term loan Other Facilities: Export, Import Post Import Financing (L/C,BBLC,LTR,PC) 1. Bills discounting 2. Bills purchase 3. Bank guarantee 2. 12. 18 Trading of Government Treasury  bond Other Govt. Securities: Jamuna Bank Limited has been nominated as a Primary Dealer by the Bangladesh Bank for trading 5 years 10 Years Treasury Bonds and other Government Securities. 1. Eligibility criteria: )Individuals and institutions resident in Bangladesh, including provident funds, pension funds, bank and corporate bodies shall be eligible to purchase the BGTBs. b)Individuals and institutions not resident in Bangladesh shall also be eligible to purchase  Ã‚   the BGTBs, with coupon payment and resale/redemption proceeds transferable abroad in foreign currency subject to fulfillment of conditions as mentioned in the Bangladesh Govt. Treasury Bond Rules-2003. 2. Loan facility: JBL offers loan up to 95% of the present value of the bond/other securities against lien of the above instrument for their customers. Interested Financial Institutions/Corporations/Insurance Companies/ Individuals are requested to contact the Bank in the following address: 2. 12. 19 Remittance: Jamuna Bank has been involved in serving the remitter for the last 6 years and the volume of remittance is increasing every year . In 2011 , it reached Tk. 15,555 million . At present, the Bank’s global partners in remittance system are 21 in numbers. * 5 Years Performance of Remittance : (million) 2. 12. 20 Highlights of Jamuna Bank Ltd’s Performance: * Table-2. 1: Highlight of BA Ltd. Performance Particulars| 2010| 2011| Deposits and other accounts| 60,673,564,672| 62,875,675,561| Loans Advances| 1,072,839,508| 2,971,524,596| Foreign Trade| 83,697,730| 87,536,380| Investment| 10,891,022,386| 12,228,148,092| Total Assets| 71,063,772,785| 77,123,907,521| Operational Profit| 35,582,311| 632,114573| Profit After Tax provision| 140,684,279| 330,571,434| Import| 50,985,000| 67,378,308| Export| 25,155,309| 30,953,405| Remittance(Inward)| 11,648,300| 15,555,120| Classified Loans| 172,670,535| 785,078,887| Earnings Per share (TK. )| 60,820,590| 90,456,885| Net Assets Value Per Share (TK. )| 191. 14| 230. 98| Return on Equity| 25. 00%| 42. 03%| Proportion of Value Addition : Year 2011 2. 12. 21 Islamic Banking Operation: To meet the growing demand of Muslim people Jamuna Bank Ltd. introduced Islamic Banking alongside the conventional banking through opening of Islamic Windows at its Jubilee road Branch, Chittagong Noyabazar Branch, Dhaka on 24. 12. 2010. The operation of Islamic Window is totally different from the Bank’s conventional operation as the former operate their business on the basis of Islamic Shariah. Income sharing module, a unique model of Jamuna Bank Ltd, is a vital element of Islamic Banking operation. The management of the Bank already planned to open new branches with Islamic Banking covering the whole country. All Islamic Banking activities are guided monitored by the Shariah Council of the Bank. The Shariah Council consists of 11 members including some elite Islamic scholars of the country. The Islamic Banking Wing started with some customer focused products, like * Mudaraba Savings Scheme (MSS) * Al-Wadiah Current Account (AWCA) Mudaraba Special Notice Deposit Account (MSND),M * Mudaraba term Deposit Account (MTDA), * Mudaraba Hajj * Mudaraba Deposit Pension Scheme (MDPS), and * Mudaraba Monthly Profit Paying Deposit Scheme (MMPPDS). 2. 12. 22 ATM: Currently Jamuna Bank customers have access to 63 ATMs . Out of which 30 are banks owned and 33 are under common ownership as member of Cash Link Bangladesh . The Bank is in the process of setting up its own ATM network at eve ry important point in Dhaka, Chittagong, and other areas of the country with a view to providing retail banking service. . 12. 23 Treasury Foreign Exchange: Bank’s treasury sells foreign currencies to its customers for import payment and buys foreign currencies from exporters out of their export proceeds and inward remittance from various exchange houses. Along with managing local currency , Treasury monitors Bank’s inflow and outflow of foreign currency . 2. 12. 24 Online Banking: Jamuna Bank Limited has introduced real-time any branch banking on April 05, 2005. Now,  customers can withdraw and deposit money from all branches located throughout the Country. Their valued  customers can also enjoy 24 theories banking service through  ATM card from any of Q-cash ATMs  located at different location throughout the Country. All the existing customers of Jamuna Bank Limited will enjoy this service by default. Key features: * Centralized Database * Platform Independent * Real time any branch banking * Internet Banking Interface * ATM Interface * Corporate MIS facility Delivery Channels: * Branch Network * ATM Network * POS (Point of Sales) Network * Internet Banking Network 2. 12. 25 Foreign Currency Accounts: Following the liberalization of exchange controls Bangladesh Bank has authorized the banks to maintain different types of foreign currency accounts and convertible taka accounts. The following are the regulations laid down by Bangladesh in respect of these accounts. 2. 12. 26 SWIFT Jamuna Bank Limited is the member of SWIFT (Society for Worldwide Inter-bank Financial Telecommunication). SWIFT is a member owned co-operative, which provides a fast and accurate communication network for financial transactions such as Letters of Credit, Fund transfer etc. By becoming a member of SWIFT, the bank has opened up possibilities for uninterrupted connectivity with over 5,700 user institutions in 150 countries around the world. SWIFT No. : JAMUBDDH 2. 12. 27 Trading of Government Treasury Bond Other Govt. Securities Jamuna Bank Limited has been nominated as a Primary Dealer by the Bangladesh Bank for trading 5 years 10 Years Treasury Bonds and other Government Securities. 1. Eligibility criteria: i) Individuals and institutions resident in Bangladesh, including provident funds, pension funds, bank and corporate bodies shall be eligible to purchase the BGTBs. i) Individuals and institutions not resident in Bangladesh shall also be eligible to purchase the BGTBs, with coupon payment and resale/redemption proceeds transferable abroad in foreign currency subject to fulfillment of conditions as mentioned in the Bangladesh Govt. Treasury Bond Rules-2003. 2. Loan facility: JBL offers loan upto 95% of the present value of the bond/other securities against lien of the above instrument for their customers. 2. 12. 28 Operating Profit: (in millions) Operating Profit After Tax: 2. 13 Human Resource Management: Human Resource Management is the process of acquiring, training, appraising and compensating employees and of attending to their labor relationship, health and safety. It is concerned with â€Å"people† dimension in management . The five basic function of HRM are given below. * Planning * Organizing * Staffing * Leading * Controlling To get effective and efficient output from the organization’s most valued assets , the bank creates an atmosphere so that people can contribute individually and collectively to achieve the objectives of the bank . nowledge and skill development is a continuous process to keep the employees abreast of all the latest developments in the banking sectors , the bank continues to organize various training programs and workshops . Now total number of regular employees is 1,031 . 2. 13. 1 Corporate Social Responsibility (CSR): Corporate Social Responsibility (CSR), also known as corporate responsibility, corporate citizenship, responsible business, sustainable responsible business (SRB) and corporate social performance is a form of corporate self-regulation integrated into a business model. Ideally, CSR policy would function as a built-in, self-regulating mechanism whereby business would monitor and ensure their adherence to law, ethical standards, and international norms. Business would embrace responsibility for the impact of their activities on the environment, consumers, employees, communities, stakeholders and all other members of the public sphere. Furthermore, business would proactively promote the public interest by encouraging community growth and development, and voluntarily eliminating practices that harm the public sphere, regardless of legality. 2. 13. 2 SWOT Analysis: SWOT Analysis is a strategic planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a project or in a business venture. It involves specifying the objective of the business venture or project and identifying the internal and external factors that are favorable and unfavorable to achieving that objective. 2. 13. 3 Performance Appraisal: The assessment of how successful employees have been at meeting their individual goals, therefore, becomes a critical part of Human Resource Management. This leads us to the topic of performance appraisal. There are basically three purposes to which performance appraisal can be put. * It can be used as a basis for reward allocations. * This appraisal can be use for identifying areas where development efforts are needed. * The performance appraisal can be used as a criterion against which selection devices and development programs are validated. HRM in Jamuna Bank 3. 1 HRM of Jamuna Bank: The organization has its personal department. This department maintains all activities of Bank under direction of Bangladesh Bank. The main objective of this department is to manage the human assets of the organization. HR management is a part of every organization. This includes placing the right person in the right job, and then orientating, training, and compensating to improve his/her job performance. Like any organization Jamuna Bank Limited also believes, Employees are the most valuable assets in the organization. Human Resource Division is responsible for the dimension of people of the organization. The responsibilities are to hire competent people, train them, and assist them to perform at high levels and mechanism to ensure that these employees maintain their productive affiliation with the organization. Human Resource Division of Jamuna Bank Limited is solely responsible mainly for recruitment, training and development, ensuring compensation and benefits of staffs, performance appraisal and rewards. With all those core functions Human Resource Division linkage its operations meet the organization’s main objectives. 3. 2 Human Resource Department (HRD) of Jamuna Bank: Human Resource Division of Jamuna Bank is one of the most valuable departments with the responsibilities of staffing, training and development, organization development, performance appraisals, rewarding, control and maintenance etc. The HRD of Jamuna Bank consists of competent and experienced executives to carry out the whole responsibilities. The Human Resource Division of Jamuna Bank stands in its Corporate Office at mail Branch under the direct supervision of the top management. 3. 3 Function of HRD: * Improving performance. * Ensure the right person at right job. * Improving the Employee Efficiency. * Arranging training program. * Compensating employees. * Promotional activities. * Ensuring skilled people. * Performance evaluation of the employee 3. 4 Organ gram of HRD of Jamuna Bank: Head of HRD Operations Remuneration Training ; Development Management Information System 3. 5 HR Practices of Jamuna Bank Limited: HR Planning Orientation Recruitment Selection Training ; Development Performance Evaluation Compensation ; Benefit Career Development 3. 6 Recruitment/Appointment: Recruitment ; Selection process starts with employment or personnel planning. This is the process of deciding what positions the firm will have to fill and how to fill them. Recruitment procedure is commerce within the bank due to turnover, promotion, retirement, new business strategy, etc. Strategies of Recruitment: Bank recruit its manpower from two Strategies: Internal Training * External Training 3. 7 Trainee Officer: On need basis, whenever a vacancy arises by various reasons or new business need; recruitment will be made through a basic job related written test and an interview session commanding by the Head of Human Resources. Suitable candidates are selected from the dropped application for various post and high recommendations. Minimum qualifi cation for this level is graduation from any reputed university. 3. 8 Management Trainees: Management trainees are required on planned basis to develop a team of young potential fresh graduates as future leaders of the bank. The numbers of selection determined every year depending on the changes in business and turnover. The selection process is done through a stiff competing method. The candidates are expected to be with high academic performance from any reputed University. Written exam covers information technology, mathematical aptitude, English, general knowledge, economics and general questions. After primary selection candidates have to face a long interview session with the top management. After all procedure there is few candidates can convince the higher management and appointed as Management Trainee of Jamuna Bank. . 9 Lateral entry: External recruitment at any level made only when, internal successor is not available or totally a new position created for the business need or/and a technical job arises. This may be done by publicizing the position opening through newspaper advertisements in leading national dailies or throughout the online job portal as Jamuna Bank is the corporate client of à ¢â‚¬ËœBD Jobs† 3. 10 Employment offer: The Employment offer is made after finishing all the selection procedure duly approved by the Managing. Employment offer consists of joining open period, particulars of salary, position etc. ith the employment offer the required documents and pre-medical tests report are asked by the HR department. 3. 11 Probation period: Employees appointed from trainee officer to officer level will be on probation; normally one year. The probation period for the management trainee is six month from the date of joining. This period will provide the new employees the opportunity to appreciate whether the job is suitable for him/her. 3. 12 Confirmation: On satisfactory completion of probation period and recommendation by the functional head the incumbent will be confirmed as the permanent employees of Jamuna Bank. . 13 Dismissal: An employee will be dismissed from the bank’s service if he or she is found guilty of misconduct or whatsoever according to the report of the enquiry committee. The concerned dismissed employee will get only the own contribution of his/her provident fund. 3. 14 Discharges on Medical Ground: If an employee is incapable to continue his/her service for continue ill health, mental abnormality and disorder, then the management may discharge him/her from service on medical ground.. 3. 15 Training and Development: Bank’s policy is to train and develop employees at all levels so that they can contribute towards the organization’s growth and also enhance their own development. Development is seen as a joint responsibility of the individual and his/her manager. Training needs will be identified and individual during the performance appraisal process and employees will be nominated to various programs of the following types * Induction (to orient the new entrant about the organization) * On the job training * Function based skill training * General management training 3. 16 Performance Appraisal System (PAS): Performance appraisal system (PAS) is the tool by which They measure the performance of an individuals and identify the gaps and plan future development in order to enable a better feet between the jobs and the incumbent. It is an HR process for driving business results. It is defining in advance what they must do as an individual to win in the market place and later on assessing the performance based on the extent to which they achieve result. Performance appraisal system is quite structured that it can measure of assess both goal (What) and the management competencies (How). 3. 17 Appraisal Process: Establish performance standards Communicate performance expectations to employees Measure actual performance If necessary initiate corrective action Discuss the appraisal with the employee Compare actual performance with standards 3. 18 Appraisal Methods: The previous section described the appraisal process in general terms. They now want to move from the general to the specific. In this section, they will look at hoe management can actually establish performance standards and device instruments that can be used to measure and appraise an employee’s performance. Three different approaches exist for doing appraisals. Employees can be appraised against: * Absolute Standards Essay Appraisal Critical Incident Appraisal Checklist Graphic Rating Scale Forced Choice Behaviorally Anchored Rating Scales (BARS) * Relative Standards Group Order Ranking Individuals Ranking Paired Comparison * Management by Objectives (MBO) Salaries: Employees joining against a post will receive the salary as per the grade they join in. The employees who are in probation will be eligible to join the PF only after their confirmation. Salaries increase which is linked with the performance of the individual employee per calendar year. Any request for information relating to salary should be directed to the Human Resources Department. Increments: Salary increases once a year on the basis of increment policy to all employees who have performed satisfactory in the given year for a minimum period of 180 days after confirmation of service. One may not receive any increment on a given year as a penalty on account of any offence/disciplinary measure. Promotion: Promotion depends on the availability of a position in the higher grade and a proven track record of an individual’s capabilities of taking over the management committee decides to upgrade the job. Promotion to the rank and status of executive level depends on the management committee. All promotions shall be approved by the management committee. * In the event of promotion/up-graduation to a higher job grade, the employee will receive an increase of his/her previous basic salary and all other allowances applicable in the higher grade. End of Service Benefits (EOSB): This is the mix of benefits he/she will gain after leaving the company normally. It will be the blends of provident fund, gratuity, loan deductions, service excellence etc. after resignation FR department takes one month to calculate and issue EOSB to that ex-official Festival Bonuses: The following employees normally to receive festival bonus as under- | Employment category| Payment system| 1| All regular officers and staff| One month’s basic pay both in Eid-ul-Fitre and Eid-ul-Azha. | 2| Officer on contract| As per contract| 3| Officer/employees on probation or who have not completed six month’s service. | 50 % of basic| 4| Executives’ personal drivers/ outsider employees/workers| Monthly consolidated wages | 4| Officer/employees on probation or who have not completed six month’s service. | 50% of basic | | Performance Bonus: The Bank may award performance bonus from time to time depending on the actual profit made in a given year. This bonus is subject to payment only upon approval. . This bonus will only be awarded to those who have completed 180 days confirmed service with the bank and made significant contribution towards achieving the profit target over and above the normal target. Convence: Convence is paid to the employees according to their position and cost Break down of monthly salary of Jamuna Bank: Head of Accounts| Taka per Month| Basic Pay| | House Rent Allowance| | Conveyance Allowance| | Medical Allowance| | Utility Allowance| | Entertainment Allowance| | Leave Fare Concession| | Personal pay| | 3. 19 Future planning of HRD of Jamuna Bank: It is to mention that the Human Resources Department of Jamuna Bank is under massive reconstruction under supervision of new Chairman ; Head of Human Resources. This is expected that within the end of this year the HRD of Jamuna Bank will get new look to its internal customers; strengthen on. * Performance Appraisal tool * Training need identification * On the job training * In house training * External training Hire of reputed faculty * Overseas/regional training * Long service awards * Cultural evenings * Family day * Event based dinner/lunches * In house magazine * Meetings * Memorandum * Electronic bulletin board. 3. 20 SWOT Analysis HRD of Jamuna Bank: Strength Open HR Manual: The Human Resources Manual of Jamuna Bank is open to all of its entire employee give total understanding of the terms and condition of the organization to its entire employees to assist the benefits and growth they can ever achieve and the role of Human Resources Department with all other departments of the organization. Employee Work Force: The Human Resource of Jamuna Bank is well prepared and perfectly managed. As from the very first, top management beloved in empowering employees, where they refused to put their finger in every part of the pie. Strong Bonding and Belongingness: Jamuna Bank’s employees are one of the major assets. The employees of bank have a strong sense of commitment towards organization and also feel proud and a sense of belonging towards Bank. This strong organizational culture of Jamuna Bank is a main strength of the organization. Information Technology: Online banking, email, personal computer for all employee enabled the employees work easier and faster with full of professionalism. All kinds of Benefits, salaries, monetary rewards directly given to employee’s bank account through STELAR. Employee Evaluation: Employee evaluation process by Human Resources Division became strength for its fair judgment and put trust among the employees of other department on Human Resources Department. Regional Banking: Regional banking means the core function of any region is coordinated by the regional head, such as Recruitment. Competitive Salary and Low Turnover: The salary package of Jamuna Bank is very much competitive to the market demands, so the turnover of manpower is decreasing day by day. Service Excellence: Employee’s code of conduct or service manual is practiced y by the employees. There is a coordination of HRD to measure the perfect evaluation of the employee’s performance. Weakness: Job Description: Job description is a necessary accomplishment should have for each position for recruiting the most suitable candidate on the basis of skill and experience required. Still hundred percent job descriptions on the basis of skill and experience required. Still hundred percent job descriptions is not prepared or collected by the HR Division. HR Accounting: Human Resources accounting is a strong tool for matching the benefits of each new recruitment done in the organization, calculation turnover, etc. Human Resources Division of Jamuna Bank is not yet established this practice. Compensation and Benefits: Compensation and benefits of Jamuna Bank’s employees is provided by the Human Resources Division through software which is not easy to use. Opportunity: Human Resources Information System: Human Resources Information System is must for a corporate environment like Jamuna Bank. Jamuna Bank has its own HRIS. Research and Development: Though Jamuna Bank has almost all due capabilities to command extensive research and development activities, Jamuna Bank done a little in this. Training and Learning: Training and learning is the core function for making the executives cope with the new scenario and make then update and knowledgeable. Jamuna Bank is going to utilize its fullest capacity and enthusiasm in this regard. Threats: New/Multinational Companies/Bank Policy: New multinational companies and bank policy as threat to Jamuna Bank in respect of increasing the salary expectation of the employees and new HR practices that turning the existing employees dissatisfied. Bangladesh Bank Regulation/Legislation: The regulation and legislation of Bangladesh bank is randomly changing the scenario of the human Resources policy and scope suddenly. 3. 21 Problem identification Traits| Descriptions| Problems Rate (%)| Standard is not yet Set| First problem of Human Resource Division is the level of standard which is not yet up to the mark. The operation and workflow of the department is still complex. | 40%| Identical HR Policy| After 11 years of business excellence, an individual Human Resources policy is absent. The existing policy demands refurbishment to set unique standard. | 60%| Lack of Proper Development| In HR Division there is the huge lack of development activities, the employee joining Jamuna Bank should be taken under a cordial orientation program which is absent. 30%| Lack of Proper Training| Proper training is very important issue for the employee specially occupy with the financial organization. In Jamuna Bank proper training need requirement is not justified rather done by the employee’s personal interest| 30%| Performance Appraisal System| Performance appraisal system is very important issue for Human Resource Department as it is the benchmark on which the promotion, incre ment, performance bonus, reward ; recognition are done. The existing system is not justified; from the previous experience it was found that the rating does not bear the true demonstration of the overall performance. The difference between the five rates is not properly measured and somewhat biased in many cases. | 60%| Human Resource Impact| After passing its 11 years anniversary of its service still Human Resource Department is acting as Human Resource Department than act as Human Resource Business partner. | 20%| 4. 1 Identical Human Resource Policy: There should be a unique HR policy in the organization immediately; through the recognition of HR policy is under progress supervised by the Manager and the head of HR. 4. 2Human Resource Development: There should be all kinds’ development activities as individual, career and organizational by the Human Resource Department for enhancing the employee’s growth as Well as achieve organizational hierarchy. 4. 3 Training Need Assessment: Jamuna Bank has all the potential capabilities to make its employee more efficient and help being the future leader. Training is a common practice for the employees of any bank. This training should be organized by the human Resource department only through need assessments. it can be examines through the performance evaluation process by which HRD will determine where he/she should have some more exposure. 4. 3 Performance Appraisal System: The existing appraisal system can be changed or modified and new system could be developed which will articulate the accurate picture. The criteria of evaluation should cover more competencies of an employee. 4. 4. 1 Linkage among Other Division: For better services, HRD must establish a proper linkage within the other functional departments. A department like HRD cannot perform in isolation where Human Resource Department is in the core of all other department. 4. 4. 2 Reward and Recognition: Only higher salary package cannot satisfy a self motivated and exposed employee in higher level. The employee wants recognition and reward for their self actualization. 5. 1 Conclusion ; Remarks: As an omnipresent financial organization in today’s cosmopolitan economy, banking sector deals with the shrewdest part of the economy. If is notably important for a country to ensure quality banking service for fertilizing the economic sector and enhancing the overall business and manufacturing environment of the country that will ultimately accelerate the national growth wheel. In recent times in Bangladesh banking industry has been considered the most prospective, compared to the other service sectors, for their quality service and transparency. At past only the government banks Are in operation and people had no other alternative to go to those institutions for service. But now the scenario is quite different. A good number of private banks are rendering service and a tough competition exists in this sector. And the service of bank has received diversified views in recent times. Now a days, a bank is not just selling services but they may define it as selling of solution to the business community as a whole to the society basically solution for the finance. So it is very important to ensure most efficient work force with innovative ideals and proper technological back up to render such an important solution to the society that will ensure sustainable growth of the economy. Today’s business world is self-motivated and ever varying. To cope up with all these changes and adopt with new scenario a group of skilled and talented word force is the first requirement. Jamuna Bank has rightly focused don skill development of employee and at the same time introducing technology in almost every step of its day-to-day activities to insure prompt and quality service. Besides frequent training program is also conducted by the bank to increase the level of employee efficient. This should be further strengthened, as there is no alternative of training in banking sector as here practice and xperience along with training can make the deference. And They have to focus on the current competition level in the industry as in such a small economy They have 52 banks and the giant nationalized banks are contemplating to come with private management. And this will make the competition more severe. And is such a severe competition only way to be the front line in the race is to go with learning process and adoption of latest technology. This will help us to read the environment properly and adjust in the changed environment. Jamuna Bank needs to put its landmark in the rural areas and other prospective remote corners of Bangladesh to expand its client base and expanded market. It should enhance the advertising in the electronic media to get acquainted with vast prospective customers of the country. In spite of short comings I tried my level best to make the report fruitful. I apologize for making errors in the report. During the period of practical exposure, I have across a lot of interaction with people, got neared with personal feelings. But it is very difficult for me to express my personal observations and feelings as an outsider for a very few days. Jubilee Branch has a very good working environment. Jamuna Bank will not only help to retain existing customers, but it will also help to drag new customers through positive word-of-mouth communications. Also it will help to attract new segments with different needs. Thus, Jamuna Bank should focus on increasing its market share by providing quality service as promised ; at the same time, providing new products/services that would satisfy customer need even more; creating a competitive advantage over its competitors. Jamuna Bank, started for â€Å"Your partner for growth† Its gracious and amiable environment, commitment to service and ability to proved equality, at low cost, with high efficiency has been able to d

How to Save 50% of Your Income for Retirement

How to Save 50% of Your Income for Retirement You may think you have years and years to go before you have to start thinking about retirement. Think again. Though the idea isn’t looming on your horizon just yet, it’s actually the best time to start planning. Give yourself a huge edge to being wealthy in your old age. Compare what you’d have after 40 years of savings as opposed to 20- more than double, giving interest rates. You’ll be able to retire sooner, and better. You don’t even have to make a lot to save. There’s plenty you can do making less than $40k per year. So stop procrastinating. Don’t pass up on any opportunities that come your way. Keep your eyes open for them and take them whenever you can- your future self will thank you.1. Save NowIt doesn’t matter whether you’ve never saved, are bad at saving, or have no idea how to do it. Now is the time. Don’t let your expenses become an excuse. These are your prime years; even putting away a little now can pay off a lot later.2. Get HelpCompanies advertise 401k plans in their employment benefits packages for a reason. This is part of your compensation- take advantage of it. Sign up and start using it. And bonus points if your employer has a matching program. Let them double your money for you!3. Go RothNo company sponsored retirement plan? Sign up for the next best option, a Roth IRA. You fund this with money from your paycheck after tax, but when you withdraw the funds later, unlike a 401k, you won’t be taxed. Put as much as you can into that fund. Yes, even now. Do you really need that pair of designer jeans? You can also try the MyRA, from the U.S. Treasury, which promises that the savings bond will never decline in value. Bonus: there are no low-balance fees.4. InvestIf investing is an option for you, do so. And do so shrewdly. Try to put a bit in stocks, not just safe bonds with a safe (and flat) return rate. Look for funds that are targeted for your age bracket to help g uide you. And find a manager you trust!5. Get SmartAn overwhelming number of people don’t have any actual financial literacy. Don’t be one of them. Take control of your future funds by making sure you understand how markets and investments and money work. If your company offers access to a financial advisor? Sit down with them ASAP.6. Stay Out of DebtStudent loans and mortgages are a necessary evil. But try to keep debt from piling up on your credit cards. You’ll pay more than double the original amount for your purchases if you let the interest charges get the better of you.7. Have a StashMake yourself a safety net so you never have to dip into the red. That way, if your car dies, you’re not saddled with a huge credit card bill that has the possibility of becoming a spiraling balance down the road.8. Get Those Tax BreaksFind out whether your tax bracket offers any breaks for contributing to a 401k or IRA. There’s also something called the â€Å"s aver’s credit† for individuals beneath a certain income threshold. See if you qualify.

Answer the questions 6 Essay Example | Topics and Well Written Essays - 250 words

Answer the questions 6 - Essay Example Some sentences do not adhere to the correct use of phrases such as â€Å"beyond a shadow of doubt â€Å" is a clichà © and should be, â€Å"beyond any shadow of doubt.† In this same paragraph there is misuse of the word impersonal. Following your request for suggestions on how to improve customer relations, I wish to submit some ideas. I am of the opinion that we can enhance customer satisfaction easily by making a change in our counters. Last December, glass barriers were installed in our branch separating tellers from customers. These barriers have air vents that allow tellers like to communicate freely with our customers. Management thought that since these barriers are bulletproof; they would help in stopping thieves from gaining easy access to the tellers’ cubicles. However, there were customers who were not pleased by these glass partitions especially since communicating with them became extremely difficult. This is because both the customer and teller had to raise their voices for them to be heard. It becomes even more inconveniencing when dealing with elderly people or someone from another country. This makes the customers think they are being treated in an inhospitable manner. After some careful research from other banks, I realized we are the only bank in town using such barriers. Most of the other banks are trying causal kiosks and open counters to make their customers feel at

Advisory role of the Supreme Court of Canada - Patriation reference Essay

Advisory role of the Supreme Court of Canada - Patriation reference and Quebec Veto Reference - Essay Example of reference question under Section 53 of the Supreme Court Act was addressed under the ‘Reference re Secession of Quebec’, where the Supreme Court held the legality of the reference questions referred to the Supreme Court for an advisory opinion2. Thus, in consideration of both the Patriation reference and Quebec Veto Reference, this discussion seeks to argue for the application of the advisory mechanism of the Supreme Court of Canada, in the determination of important legal questions of national importance. While arguing for the application of the advisory mechanism of the Supreme Court, the discussion will first seek to demystify the assumption that there exists a correct and certain answer to any reference question that is raised through this mechanism. In doing so, the discussion will therefore find the application of the advisory mechanism of the Supreme Court of Canada, as provided under Section 53 as essential. The provisions of Section 53 of the Supreme Court Act allows for the government to seek an advisory opinion regarding questions deemed important for the nation, and which may have an important legal bearing on the country3. The ruling given by the Supreme Court during the answer to the reference question also takes the form of a judicial ruling. However, the most important aspect of the application of the mechanism of the advisory opinion as a means of determining a legal question is that, the decision offered is simply in form of an advice, as opposed to a legally binding decision of the court4. In this respect, the parties interested in the reference question can therefore take further legal courses of action, to determine the fate of the legal issue, since the parties are at liberty to agree or to disagree with the advisory opinion granted in the ruling5. Thus, considering that no party is bound by the decision issued during an advisory opinion ruling, it is therefore important that the advisory mechanism of the Supreme Court of Canada is

Medieval Diary Essay Example for Free

Medieval Diary Essay Tomorrow is the day I start out on my journey to King Richard’s court. I will not be bringing much in my wagon, as I only have one horse and it cannot carry a significant amount of weight over that far of a distance. Perhaps I will bring some old wine bottles or blunt daggers for my performance in front of the King, as well as a few scrolls of my most favored jokes and poems. Since this will be my first time appearing before the King, I am quite nervous and wish to make him laugh as much as possible. Not only are the King and his court going to be witness to my act, but a large audience as well. When I was summoned, I was told that this was going to be an ornate fayre. Even though I have always received applause by the Dukes and other Lords I have performed for thus far, I hear that King Richard have proven himself to be quite fierce and ferocious, especially in battle; and I only hope that this does not carry over to his sternness in court next week. I am planning on returning home right after the King’s festivities, as I have greatly missed this humble house by the river. Canterbury is always so pleasant this time of year, and traveling around the country for the entire summer and winter of 1196 was extremely exhausting. To be honest, the thought of a long trek ahead leaves me a bit weary; but since this is the first time the King of England has personally requested the services of me, Henry Walter the Jester, I absolutely could not refuse. 4 April 1197 It is noontime right now, and I am resting after a few hours of travel. I did not feel the need to set out too early, as I have given myself enough travel time so that my horse and I may travel at a moderate pace. This morning was a great treat, as I was visited by Rowan the baker, who gave me half a dozen of his freshest loaves of bread, two large sacks of grain for my horse, a sack of oats, and two of his famous meat pies. He had gotten word that I will be appearing before the King and offered me all of this food as a congratulatory gift. Together, with the wheels of cheese, salted pork slabs, and jugs of ale I have already packed, this will surely be enough rations to last me to the King’s fayre and back; and of course, there are several villages I may stop at along the way. I probably loaded up one too many jugs of ale, but it is the surest thing that will keep me in high spirits during my journey. 5 April 1197 Today, I came across a minstrel named Ulric while resting my horse. He is also headed towards King Richard’s fayre, so we have decided to travel together. I suppose one could say it is safer to travel with a companion, but he is quite an interesting character and makes the trip not so monotonous. He comes from York and travels around the same way as I do, earning wages and receiving ample food and shelter from the nobles for which we perform. We both have similar lives and we are both lucky enough to be experienced enough in our professions as wandering performers to make a sizeable income. He, too, was summoned by the King. After we set up camp for the night, Ulric showed me some of the songs he could play on his lute, along with some of the poems he would recite with his music. I must say, he is a very talented musician. I offered to lend him some of the poetry I have brought; but after I showed him my poetry scrolls, he pointed out that they are much too comical to be paired with the performance he had planned for the King. He prefers more artistic pieces of literature based upon love. Perhaps I have spent too much time as a single man to particularly care about love, but I would rather make jokes about the subject and exercise my unique right of having the complete freedom to say anything I wish, mocking anything I choose. 6 April 1197 Ulric and I had to make a quick stop at a village today. During our lunch break, I was searching in my wagon for a jug of ale when I accidentally knocked my jester hat into a muddy puddle; so we had to make haste and find a well. Luckily while I was laundering my hat, Ulric somehow managed to find a box holding a worn chess board with its pieces intact. We spent nearly two hours tonight playing chess, trying to see who had the superior mind. To anyone who mistakes jesters for being uneducated and foolish, I ask them to come and witness a show of my intellect as it is displayed during this game! It does get tiring when ladies and lords all over England assume that I am nothing more than a dunce, simply because of the way I make a living. Could a fool make up witty jokes and stories? I think not. People are so quick to forget that humor is one of the greatest signs of intelligence. 7 April 1197 As I write tonight, I am huddled by the fire. The night air has been so frigid, that I have developed a sore throat. If my voice is too hoarse, then I will not be able to speak will proper volume or unleash my signature robust laugh in the King’s court. I plan to speak very quietly and sparingly until my performance, and eat lots of hot pottage. Ulric may become bored with the lack of conversation, but at least now we have chess. There is no need for conversation when there is chess. During these hours of quiet, I have come to realize how much I truly love my humble home in Canterbury by the river. It is no grand castle, but my village is welcoming and nurturing, and makes me feel as if I have a great extended family. All of their faces greet me whenever I come back from a long journey of being a jester in courts all over England, and it is comforting to know that they will all greet me again after I return from this fayre. 8 April 1197 I am so tired, I can hardly write in this diary even though it is only noon. I did promise myself I would document every step of my first performance before a King, however, so I cannot go without writing for the day. Ulric and I are hoping to arrive at the palace by nightfall and be able to sleep in comfortable quarters rather than the backs of our cramped wagons. As much as I would like to celebrate the end of our journey by finishing off the last two jugs of ale, I plan on retiring early tonight. My throat is feeling much better and my normal voice has returned, so I refuse to do anything to sabotage my recovery. Our horses are nearly done feeding, so I must get ready to travel the last bit of our trek if we are to arrive tonight. 9 April 1197 After a good night’s rest in a comfortable bed, I feel refreshed and ready to be seen by King Richard the Lionheart. I have decided to perform an exaggerated victory of a battle between two lions as a pun on his nickname. As a jester, after all, nobody is off-limits in terms of mockery—not even the King himself. If I am to gain his favor and make him laugh, I might as well use all of my tricks and wit to do so. I must say, this is the grandest of all fayres I have witnessed. Ulric has been charming the court all afternoon with his lute playing and poetry, there are lines of trumpeters, archery tournaments, and hoards of people enjoying the festivities. I cannot wait until after the King’s royal feast, when it will be my turn to be granted an audience. Although my nerves are a bit on edge, I feel confident. My new red outfit is freshly pressed, the bells on my hat are extra shiny, my marotte is in hand, and I am positive that I have enough energy to evoke laughter from all people of the court. I am certain that today’s performance will be the greatest I have given, and that I will return to Canterbury with only positive stories to tell.

Technology and the Weakening of Human Gene Pool Essay -- Genes Heredit

Technology and the Weakening of Human Gene Pool Technology exists in countless forms. From sticks used to pry apart clamshells, to nuclear plants that generate energy. One thing that all technologies have in common, is that they advance the human race. Technology acts as a catalyst to bring about new world views, fix problems, and bring answers to questions that could never have been answered in the past. Medicinal technologies in particular bring incredible benefits to mankind. With new medical technologies emerging, society must question their morality, and more specifically, how they should be used. Throughout history, medicine has existed in many forms. As the technology of cultures advanced, so did the applications of medicine. In the early 1700’s if a person’s liver failed, they would certainly be doomed to death. Who would of thought at that time that a transplant could of occurred, that a liver from a different animal, or another human being could save that person’s life. Though there were theories at that time of organ transplants, the technology nee... Technology and the Weakening of Human Gene Pool Essay -- Genes Heredit Technology and the Weakening of Human Gene Pool Technology exists in countless forms. From sticks used to pry apart clamshells, to nuclear plants that generate energy. One thing that all technologies have in common, is that they advance the human race. Technology acts as a catalyst to bring about new world views, fix problems, and bring answers to questions that could never have been answered in the past. Medicinal technologies in particular bring incredible benefits to mankind. With new medical technologies emerging, society must question their morality, and more specifically, how they should be used. Throughout history, medicine has existed in many forms. As the technology of cultures advanced, so did the applications of medicine. In the early 1700’s if a person’s liver failed, they would certainly be doomed to death. Who would of thought at that time that a transplant could of occurred, that a liver from a different animal, or another human being could save that person’s life. Though there were theories at that time of organ transplants, the technology nee...

Dakota Office Products Case Essay

1 Dakota current allocates warehousing, distribution and order entry cost equally to each customer. DOP’s pricing system is generally independent of the specific level of service provided for customers. They just chose a single cost drive. However, it’s not believable and proper to use this simple method to analyze costs when costs are more complex. So we need to use activity-based cost system to chose different cost drives and allocate costs based on the activity. 2 We identify four different activities for all costs, order handling cost, ship carton cost or normal commercial shipment cost, desktop delivery cost, and order processing cost. As we noticed, the distribution center team reported 90% of their workers proceed carton in and out of facility. So, the total cost for order handling is $4,160,000, which is the sum of 90% of warehouse personnel expense and warehouse expenses (excluding personnel). This cost only depends on the number of cartons moved in and out of storage. So the total handling cost need to be allocated by the number of cartons processed in year 2000, which is 80,000 cartons. Then we get the overhead rate for handling cost that is $52.00 per carton. We only have the freight cost that is associated with normal shipment. We divide total cost $450,000 by the number of carton shipped only through normal shipment, which is 750,000 cartons. Then, we get the overhead rate for ship carton, which is $6.00 per carton. We also have desktop deliver option for customer. The total cost for 2000 delivers during 2012 is the sum of 10% of warehouse personnel expense and delivery truck expenses, which is $440,000. The overhead rate for desktop deliver is $220 per deliver. As order processing cost, we use weight average method, based on the hour used to divide this cost into three part, manual order limitation, line times manual order and EDI checks. We calculate total cost for manual order limitation $160,000 and it had 16,000 orders. So the overhead rate for manual order limitation is $10 per order. Total cost for line items is $600,000 and it had total 150,000 lines. The overhead rate for line item is $4 per line item. Total cost for EDI checks is 400,000 and it had 8,000 checks. The overhead rate for EDI check is $ 50 per order. 3 According to the Exhibit 3, we find the number of each activity provided to customers A and B during year 2000. We use these number multiplies each overhead rate to get overhead costs for each activity. For customer A, we have gross margin $18,000 and other costs including, order handing cost $10,400, ship carton cost $1,200, manual order cost $60, line items $240, and EDI orders cost $300. Customer A also has interest expense based on his average accounts receivable within 30 days, which is $9,000 and annual interest rate is 10%. Therefore, the interest expense for customer A is $75. We use gross margin $18,000 subtracts total other cost including interest expense $12,275 to get profit for customer A, which is $5,725. We use the same method to get gross margin for customer B is $19,000 and total other cost including interest expense is $19,020. So customer B loses $20. 4 Customer A use normal shipment and most of orders are EDI orders. These two could save more spend and is more profitable for the company. However, customer B have 25 desktop deliveries. This cost is about 6.47% of cost of items purchased. Also, customer B uses traditional manual order and manual line items order that cost more. Additionally, interest expense for customer B is also very higher because of his payments always after 90 days with a higher payment amount. Total other cost for customer B is 1.55 times of customer A. Therefore, customer A is more profitable and customer B loses $20. 5 and 6 The only limitation for customer A is manual order and line items. We suggest customer A use EDI orders instead of these two. It could save cost and make more profit. For customer B, the cost for desktop deliveries is very high and customer B use traditional manual order entry without EDI. It costs a lot for customer B. We recommend customer B decrease the desktop deliveries or increase the price for desktop deliveries to cover the cost. We also suggest customer B switch traditional manual order entry and line items to EDI orders. This technology would help save cost and be more profitable for custer A and B. 7 Under activity-based costing, we allocate all costs into different  activity. So, we could easily see the cost for each activity related to our cost of items purchased. We can figure out which activity is more costing and take control this cost to increase our profit. 8 If a major customer switches from placing all its orders manually to placing all its orders over the internet site, we will spend more workers’ hour on EDI checks. We use weight-average method to allocate order entry expenses into three activities, manual order, line items, and EDI checks. So, the expenses for manual order and line items could be decrease and expenses for EDI checks increases. We need to recalculate the overhead rate for both three activities. Additionally, the cost for EDI checks is more cheaper than the other two. So, if a major customer places all order over internet site, it would save cost and make more profit for company.