External factors created internal management challenges in Northern Rock Plc.
External factors created internal management challenges in Northern Rock Plc. For Management Concepts BS1203 Politics and Management stage 1 Submitted in 2007 The document contains 2510 words Executive summary This report comprises five main parts. It will begin with Company profile than Transformation process, External factors, Management challenges - Recommendations and Conclusions. The report's aim is to investigate what external issues and improper internal policies led Northern Rock to lose a number of customers and 80% of its share value despite of its long-running outstanding previous performance. By conducting a PESTEL analysis it discusses the future consequences of the current external effects, internal decisions. The report suggests, how critically imbalanced Northern Rock's operation was by - as the only bank in the UK - obtaining 75% of its funds from wholesale credit markets. It traded credit on an excessive basis, though its assets were always greater than its liabilities. The report shows that the banks lose business, as it is now increasingly difficult to take out mortgages, as price:earning ratios, interest rates, house prices and the average deposit rocketed in previous years. Although due to the effects of migration and the increasing number of single households, demand for houses is greater than ever, growing interest rates and the sub-prime
LITERATURE REVIEW STRATEGIC HUMAN RESOURCE MANAGEMENT
Amer Siddique Imran Ashraf LITERATURE REVIEW STRATEGIC HUMAN RESOURCE MANAGEMENT . Introduction. People have long been considered an integral resource of the organizations. This conception however was formed over a period of time with the management philosophy undergoing various transitions. Traditionally, all the activities concerning the workforce of any organization was referred to as Personnel Management, a term that was evolved in the early 1960s. Personnel Management was more administrative in nature with the managers mostly playing the roles of mediators and catering to the needs of the workforce while performing duties of staffing, payroll and administrative tasks etc. Personnel management includes tasks that are conventionally more traditional and routine. Furthermore, the management of the workforce was considered as a sideline function of the organization. When it came to motivators, personnel management only took into consideration rewards such as compensation and bonuses etc. Personnel management was actually restrictive in its role as it only catered to the functional aspects of the workforce management. It used to give more importance to the norms, cultures and established practices (Bach, 2009). 2. With the advent of more resource focused organizations, there was also a change in the management philosophy in terms of putting people
In 1960, after a decade of Abstract Expressionism and a short period during which Dada collages and assemblages were produced a new atmosphere prevailed in New York with the rise of Pop Art and the success met by such artists as Motherwell
In 1960, after a decade of Abstract Expressionism and a short period during which Dada collages and assemblages were produced a new atmosphere prevailed in New York with the rise of Pop Art and the success met by such artists as Motherwell, de Kooning, Rauschenberg or Jasper Johns. Warhol was still outside that movement and painted a series of works inspired by comic books heroes such as Popeye, Superman or Dick Tracy. He then understood that he needed to adopt an impersonal and cold technique and after noting that the capital element in U.S life was the dollar bank note, he painted a series of dollar bills in different colours. Then came the series of Campbell's Soup cans somewhat reflecting the American way of life, which he promoted with other consuming goods as art works. This time he had understood that hand-painting did not correspond with any faithful reproduction of already graphical objects that had to be repeated in various series. Bank notes and Campbell's Soup cans were produced in 1962 and Warhol adopted afterwards the serigraph method for other themes such as Coca Cola bottles, Heinz Tomato ketchup and the Brillo washing powder. Warhol also embarked on producing series dedicated to other myths of the U.S society such as movie stars Marilyn Monroe and Liz Taylor or Rock N' Roll legend Elvis Presley. All these themes were multiplied or zoomed with various
Juries an essential bulwark against oppression or an inefficient anachronism?
JURIES AN ESSENTIAL BULWARK AGAINST OPPRESSION OR AN INEFFICIENT ANACHRONISM? Lord Devlin put at its highest in his book 'Trial by Jury':- "The first object of any tyrant in Whitehall would be to make Parliament utterly subservient to his will; and the next to overthrow or diminish trial by jury, for no tyrant could afford to leave a subject's freedom in the hands of 12 of his countrymen. So that trial by jury is more than an instrument of justice and more than one wheel of the constitution: it is the lamp that shows that freedom lives". But Professor Hogan of Leeds University, one of the leading academic experts on criminal law, put the opposite:- "In my view, trial by jury has long awaited its usefulness. We preserve it because it's a scared cow. It's been with us for so long and we're failing to look carefully into it, to see what it does, and to see whether there are rational grounds for defending it. If we'd never had trial by jury in this country and our practice had been to try cases by judges, rationally finding the facts and drawing inferences, and I were to come boldly along with the suggestion that this professional judgement should be replaced by an almost inscrutable verdict, by the first 12 men and women you meet in the street, I think any sensible person would believe that I'd gone out of my mind". Lord Devlin also said that the jury is "the lamp
International Accounting Harmonization
International Accounting Harmonization Abstract Harmonization is the process of reducing differences in financial reporting processes across the world. The goal is to achieve some comparability with financial statements. When harmonization exists, complications for individuals and corporations who use these financial statements decrease significantly. There are several organizations around the world***, who have formed in hopes of creating an international system of accounting. This could mean a standard that would apply across the world. The implementation of such a process could be beneficial for all countries, especially with the expansion of businesses offshore. International Accounting Harmonization Introduction "Harmonization" in the field of accounting is the process of creating a similar set of procedures by establishing boundaries as to how much they can differ across the world. "As a result of globalization, the accounting profession has become increasingly aware of the need to establish a single set of accounting standards that would be valid in the international arena" (Garrido, León, and Zorio, 2002). Businesses that have expanded offshore have witnessed firsthand the problems when dealing with national accounting differences. National governments and regulatory agencies all over the world have typically set accounting and auditing processes. Each
Boots Products and Services.
Boots Products and Services Our businesses in the UK and Ireland work together as Boots Retail. Boots Retail is a business that encompasses many different stores, but which all relate to the welfare of the people: - Boots, Wellbeing services, Digital Wellbeing, and our supply and support services. Boots Healthcare International continues to grow Boots' share of the global self-medication. Boots is the UK's number one retailer of health and beauty products. It leads markets in areas ranging from cosmetics to medicines, sunglasses and film processing. Wellbeing Services: There is now an incraesing demand for health and beauty services, and Boots is now a provider of a extensive range of Wellbeing Services, as well as products. Boots Healthcare International is a leading developer and marketer of innovative, new, and unique products, and differentiated consumer healthcare brands in the global self- medication market. Boots Contract Manufacturing develops and manufactures a wide range of healthcare, cosmetics, and toiletry products both in a private label and contract markets. * We develop over 1,500 new products a year * We produce over 8,000 different products * We manufacture over 500 million units a year Boots Retail International was set up to amplify Boots health and retail globally. Boots Advantage Card is the world's largest smartcard loyalty scheme, which now has
Obedience to Authority
Social Psychology - Obedience to Authority Introduction In this essay I will be talking about obedience to authority, 'doing what you are told to do'. In particular, a study that was carried out in 1963, by the Psychologist, Stanley Milgram at Yale University. Milgrams' interest in obedience stemmed from a fascination with the Holocaust and how ordinary people submitted to those they saw as being in control, by freely carrying out their orders and taking part in the atrocities. Aim The aim of this essay is to discuss the findings of and offer a conclusion to Milgrams' study of obedience and to give one criticism of this study. Method A controlled laboratory experiment was carried out. Milgram advertised for male volunteers to participate in a study of memory and learning. When the volunteers arrived at the University laboratory they were met by the researcher, who was dressed in a white lab coat, he said that they were participating in a memory project to study how people learn. They were told that one person was to act as the teacher and the other the learner and they were to draw lots to see who took on each role. This selection process was in fact rigged so that the true volunteers became the teachers and that members of Milgrams' team became the learners. The teacher then saw the learner being strapped to an 'electric chair' and was taken to an adjoining
Wilfred Owen - Dulce Et Decorum Est
Wilfred Owen was a Captain of the British Army and witnessed the slaughter of the war first hand. Within his poetry, Owen portrays war as a dehumanizing and horrific event. 'Dulce Et Decorum Est' is significant in conveying his negative attitudes towards the effects of war on soldiers and he does this by using metaphorical language and vivid imagery. Firstly, in conveying Owens ideas about the reality of war he uses many literary devices. For example, in the first stanza he uses a simile when describing a troop of soldiers as "Bent double, like old beggars under sacks," the simile shows the men are depict of being old and leaves the reader to imagine a group men hunched over, to beaten to stand up straight, portraying the men as weak and vulnerable, when the war was meant to about men being proud to fight for their country. Also "knock- Kneed, coughing like hags" also indicates how these young men have aged long before their time, and that their health has deteriorated since fighting in the war. Another example is when Owen describes a man that has been poisoned by gas; "Flound'ring like a man in fire or lime" this simile really illustrates the hopelessness of the man because of the word "Flound'ring". Secondly, the effective use of metaphors really illustrates the painful experiences encountered at war. "Vile incurable sores on innocent tongues," this metaphor is in
Input & output devices.
Input & output devices Overlay Keyboards In many applications only a small number of different entries need to be made. It is faster to press a marked key than to enter a string of data. You are also less likely to make mistakes. The overlay keyboards works by having a membrane keyboard that has a number of areas/ keys on it. An overlay is put on top of the keyboard so that the user can select a specific for a particular entry. The computer is programmed to respond to each key in an appropriate manner. Touch Screens In some applications the concept keyboard application is replaced by a touch sensitive screen. The user touches the screen and the computer is programmed to respond in an appropriate way. One advantage of this method is that the program can change the screen layout at any time, and is possible to have several different menus (a bit like swapping the overlays on an overlay keyboard). These kind of terminals are used when the fast selection of information is important. Pointing Devices Not strictly specking input devices but pointing devices can be used to control a computer or select items from a menu. These include a mice, joysticks, tracker balls and touch screens. Sound Samplers These will convert an audio signal into a digital form that can be stored and processed by a computer. Video Digitisers These will convert a video signal into a digital
The Impact of ICT - the advantages and disadvantages of different types of ICT
The Internet This software is a program that allows people to stay in contact and complete processes otherwise un-doable. It was originally made so American scientists could communicate across the country with ease. This has affected billions, with over 1 quarter of people having access to it. Advantages - Easy information access - Many applications for everyone Disadvantages - Unsecured, and some information false - Easy for fraudsters. Television- Television is a method of sending and receiving visual and aural data. People also use CCTV (closed circuit television) to capture the aforementioned. TV has been used and advanced since the late 1930s. Advantages - Many attachments for it. - Advanced and is a worldwide used product Disadvantages - Can be very pricey - Peoples lives revolve around it. iPod iPods are MP3 players made by the computing company, Apple. They are much higher in price than other MP3s, possibly because of the brand and compatibility of the products. Now there are so many of this specific brand, from the 'nano shoots video' campaign advertising the new iPod Nano, to 'the funnest iPod ever', the new iPod touch with it's massive selection of games and applications. Advantages - Music on the go - Many interactive features Disadvantages - iPods are associated with many road accidents - Very expensive Computers Computers are machines
