Representative Democracy

A Representative democracy is define as The form of government that rests on the principle of the people being represented by individuals they elect;it is government that holds the belief that elected officials represent the people. Countries that have representative democracies include the United Kingdom, Canada, and Australia. A Representative Democracy is the only type of governance that provides the order of having a hierarchy with the satisfaction of the people having control.Representative democracy is the most successful form of government because the people have the power, The human rights are highly respected and protected, and The welfare of the society would not be put aside for the needs of the individual. Giving people the power to vote for their leaders in government is a way to have the majority of the peoples ideas be brought up. Having specifically designated elected officials in government can help simplify the needs and problems of societies with everyone agreeing on the decisions made.Governments that represent the views of the people tend to have higher success rates and less rebellion. In a representative democracy form of government the human rights are held to the highest standards. The right to life and liberty acknowledges that all human beings should be free. Freedom of speech also primarily guarantees that the government itself would not prohibit the people from voicing their opinions. Equality and fair treatment for everyone is also giving to the people by the government to show that everyone has the same opportunities.The welfare of the society would not be sidelined for the needs of the individual. Decisions would be made based on the common good of the people. Everyone is also encouraged to go voice their opinions and vote for what the believe is right. and everyone is entitled to free and public education and giving the ability to seek knowledge to better themselves and there society and take part in government decisions if the choose to.These are some of the many reasons why a representative democracy is the most successful form of government. Direct democracy may work very well among a small group of people, but the larger the group the more difficult it is to run effectively. Representative democracy eliminates this difficulty by operating on a much smaller scale the majority of the time Most people do not really want to vote all the time on political issues.Voting for a representative who agrees with you takes less effort, doesn't require you to do anything about issues that don't concern you and does not require you to learn about complex issues. Sources: (William P. Meyers (2002)The Original America: Republic or Democracy? ] [Held, D. (1996) Models of democracy] [Ankersmit, Frank R. (1996). Aesthetic Politics: Political Philosophy Beyond Fact and Value. Stanford: Stanford University Press. ] [Nadia Urbinati (2006) Representative Democracy: Principles and Genealogy. )

Harry Potter and Culture Industry Essay

Harry Potter – this name is familiar with all the age groups in the world today and the reason behind it is well known to all of us. The Harry Potter book series written by a single mother J. K. Rowling, who wouldn’t have imagined in her wildest dreams that a story she thought of while travelling in a train, would gain so much popularity. So much so that her character and her name would become a household name across the globe! J. K. Rowling Harry Potter books came into the market in 1998. The first part called Harry Potter and the Sorcerer’s Stone gained a lot of popularity with the kids and slowly with the adults too. Due to its huge success it was converted into a motion picture as well and so the first movie when on to release in the year 2001. Subsequently the other parts (books) were out in the market and the movies started releasing as well. Of course it was after the stupendous success of the initial books that J. K. Rowling was encouraged to write on the further parts. So what is it in Harry Potter that attracts so much attention? Or what is it that makes people want to read a 600-700 pages long book again and again. This isn’t just a single book we are talking about, but every book in the series is read all over again by people repeatedly. These books tell us the story of an orphan, Harry who lives with his aunt Petunia and uncle Vernon, and not to forget his huge sized cousin Dudely with a nut sized brain. He leads a miserable life until the he turns 11, when he realizes that he is actually a wizard. He is admitted to the Horgwarts School of Witchcraft and Wizardry. So follows his journey of magical experiences. Very unique but impressionable characters are introduced in the book in Rowling’s own style. The books detailing his experiences at Hogwarts School of Witchcraft and Wizardry have bred passion, obsession, creativity, and a new or renewed interest in reading throughout the world. JK Rowling has created an elaborate cast of characters and an environment for them to inhabit that appeals to adults and children alike. The fantasy aspect of the wizarding world expands the imagination, and transports the mind to new and exciting places; introducing magic opens new realms of possibilities within the plots. Anything could happen. Her intricate stories contain strands of the believable and unbelievable, altering the predictability that readers commonly encounter and endure in fiction. Harry Potter Movie Poster These factors contributed to the â€Å"Harry Potter Phenomena† which actually swept across the world as soon as the movie series became huge hits! Young children started identifying with Harry’s shy but brave character. The terrifying Lord Voldemort and how he is after Harry’s life, after having murdered his parents when Harry was a baby. The innocence of school life along with the mixture of magic, hit children’s minds like the Magic Bullet Theory, wherein, the information seen by audiences hits their minds like bullets and penetrates within. At the same time, the themes driving the stories resonate with classic literature, offering mature readers tales that wear like a comfortable pair of shoes, while introducing younger readers to concepts they will encounter throughout their lives. The main theme of the series is the subject of many theories, including, but not limited to: good versus evil, prejudice, love, death, sacrifice, friendship and loyalty. In actuality, all of these elements contribute to the timeless nature of the stories. As and when the books started getting really famous with a specific target audience, the first big leap that was taken to expand the entire Harry Potter concept were the movies. When the movies were made they went on to click with the younger as well as the older audiences. One part after the other, the movies became darker slowly loosing the initial happy and bright appearance. They now started seeming more â€Å"real† and â€Å"practical†. There was a feel of â€Å"there is more to Harry Potter† than what you expect. The covers of all books started having two versions, one which was bright and the other dark and mysterious so that the books would appeal to adults as well. Slowly there was Harry Potter everywhere! There was Culture Industry starting to take place because of the entire Harry Potter concept. By Culture Industry we mean that suddenly a particular thing which is extremely popular is produced in front of us in many different ways. It is â€Å"claimed† by the respective producers that their product is unique and adds more to a particular franchise. This concept focuses on media and marketing. Max Horkheimer and Theodor W. Adorno define the Culture Industry through its focus on the media and mass marketing. This industry is unique in that it does not reflect economic processes and essentially becomes homogenous; thus, variation is meaningless. The Culture Industry is characterized by three specific ideas: Monopoly, Mass Production, and Technology. So there is lesser control over production of certain products and lesser control in the market. Hence when a certain product is newly launched in the market, people rush to purchase it and explore that particular product. So what happens when the novelty of that product wears off? Simple, another product is launched in the market and promoted on its â€Å"unique† properties. But the actual catch here is that every product is almost similar to one another, but it is sold as being different from the previous one. Hence people are urged to buy them. This also gives them another product in place of the previous one. This is termed as â€Å"Pseudo Singularity† rightly meaning false singularity. This is how the culture industry also called as Mass Industry works. When Culture Industry meets something like Harry Potter, what is created is a huge successful mass industry which becomes immensely lucrative and popular. Also when the subject is like Harry, who mainly appeals to people due to his emotional appeal, his belief in friendship, love and braveness. These are the factors on which various products apart from movies like merchandise are publicized to people. There are Harry Potter theme based amusement parks, the costumes, competitions to test your HP knowledge, digital games and websites like Pottermore where you actually live Harry’s life. You are sorted into different houses just like in the book and you face different adventures like Harry. There are things taken from the book which will entertain and amuse people. Like the broom used to play the game Quidditch again an imaginary concept of a game like football but you are actually flying on broomsticks. Harry Potter wands, cards, hats, glasses and the famous scar which Harry have all became commodities and we are expected to purchase them. The main objective here is to make people feel like Harry himself. Examples of various Harry Potter Merchandise So even if J. K. Rowling has completed her set of books, producers still want to reap the profits from this subject. Hence, even after she officially completed her books, due to tremendous response and popular demand she wrote another book where people know what happens after Harry defeats Lord Voldemort and finishes his studies from Hogwarts School of Witchcraft and Wizardry. So much is the popularity of Harry Potter. Not only Harry, but other main characters like Hermoine and Ron (Harry’s best friends), Professor Dumbledore, Hagrid, Sirius Black etc have gained a connect with the audiences. There is a feeling generated that â€Å"my best friend to needs to be like Ron† or â€Å"I wish I could study magic†. This feeling of longingness is usurped but the producers to contribute more to the culture industry! These feelings are then used by the people to generate more and more profits, hence trips to the castle where Harry Potter was shot are arranged. Though a particular location is not used continuously in the movies, they keep changing, but so much is the craze that people travel all the way to Scotland just to see where their Hero spent this school days. All in all a different culture itself is created and we don’t realize it. Such is the nature culture industry and it prevails n today’s world to a much greater extent. The main feeling of Love always triumphs over the evil makes Harry Potter what it is. I would like to end my putting in a famous citation in the book- It is our choices that show what we truly are, far more than our abilities. J. K. Rowling, Harry Potter and the Chamber of Secrets, 1999, spoken by the character Albus Dumbledore This is one of the most famous quotes from the series and rightly, it is our choices that make us who we are. People chose to love Harry Potter even though the entire concept being imaginary because it has appealed to their hearts. It is this emotional factor which makes us give in to the ‘market and producers’ but in the end, they are our choices, aren’t they?

Female offenders are more likely to be referred to psychiatric Essay

Female offenders are more likely to be referred to psychiatric counselling than men. Discuss, taking into account the impact of gender stereotypes in the criminal justice system - Essay Example That, however, does not mean that women are more likely to be referred to psychiatric counseling than men. It appears that, as the number of female inmates continues to increase, prisons and jails fail to catch up with the pace of change in inmate demographics. Like many years ago, the criminal justice system lacks resources needed to meet women’s health needs. The corrections system continues to ignore the health care needs of female prisoners, turning mental health complications into the most viable explanation to women’s criminal acts. That women-offenders are more likely than incarcerated men to display the signs and symptoms of mental health complications has been abundantly established. The current state of research provides a wealth of information concerning the most serious mental health challenges faced by incarcerated women. Understanding the mental health trends in women offenders is crucial for the development of more relevant criminal justice frameworks and detecting the stereotyping and bias affecting female inmates in the corrections system (Freudenberg 2002). According to Covington (2007), when it comes to mental health, 73% of female inmates in state prisons display the signs of mental health disorders, compared to only 12% among the general population. 75% of those who meet the criteria for mental health disorders also display the symptoms of substance dependence or abuse (Covington 2007). This is probably why the largest percentage changes in delinquency have been noted in female youth (Cruise, Mar see, Dandreaux & DePrato 2007; Snyder & Sickmund 2006). However, the link between mental health complications and crimes committed by female offenders are beyond the scope of this discussion. More important is the current state of mental health in women-prisoners and its implications for the criminal justice processes affecting the corrections system. In this sense, the results

Analyzes Communication between two Charcters in the Sound and The Fury Essay

Analyzes Communication between two Charcters in the Sound and The Fury written by William Faulkner - Essay Example Thus, throughout last chapter, readers are left in perplexity of timeframe, in which they are unable to distinguish between past and present. Caddy is the only sister who is like a mother figure to the brothers, is later shown to degenerate morally, which directly affects her brother Quentin, who is a Harvard student. Quentin whole heartedly follows the Southern Code, and believes in ideals such as purity, chastity and a purposeful life. Jason is depicted as a person full of hatred while Mr. Compson is a person who understands the bitter realities of life, which directly contradict the beliefs held by Quentin. The discourse between Mr. Compson and Quentin is interesting as the two characters possess completely dichotomous, polar views regarding life. Mr. Compson’s views add to Quentin’s dilemma regarding life, and eventually lead him to commit suicide. Although Mr. Compson appearances were a few, but through his few discourses, not only the constant battle Quentin was fighting was signified, but also the gradual thought process that led Quentin to decide his tragic fate was relayed. In the second chapter, Quentin reminisces about how his father had given him a watch, saying, â€Å"I give it [watch] to you not that you may remember time, but [†¦..]. Because no battle is ever won. They are not even fought. The field only reveals to man his own folly and despair, and victory is an illusion of philosophers and fools†Ã‚ ­, (Faulkner, 1992, p .76). Although it is ironical how the watch, signifying hope and faith, led Quentin to eventually break it, because he wanted to stop time. It was his futile effort to stagnate time, so that the degrading moral values of the 20th century did not creep into the Compson family and the Southern Code remains intact. Quentin, the oldest child in the Compson family, strongly adhered to principles of honor, love and purity. In his view, this comprised the Southern Code and the familial system was bound to adhere to it, as it was the

Discussion Paper - Industry Certifications Essay

Discussion Paper - Industry Certifications - Essay Example The website is very detailed with further information regarding fees, deadlines for paying the fees and a section with testimonies of how the CSEP certification has aided in their career advancement. In order to qualify for the CSEP exam, candidates are required to possess a minimum of three years professional employment on a full time basis. Additionally, they should have obtained their experience in the special events industry. On the other hand, the CMP program has a number of requirements for the professional experience and the internship experience. Both categories mandate that the person be in the tourism, meeting and exhibition industry. Applicants should also have a minimum of three years for the professional program and 200 hours of work experience, for the internship program. The two programs exhibit a similar history of formation and a common desire to promote their respective industries through professionalism, ethics and a strict code of conduct, aimed to improve the standards of the professionals in their specific industries. However, there are some differences, such as their structures. The CMP is more focused on meetings while CSEP places emphasis on the event planning as a whole. The CMP and CSEP programs both offer similar rates for the application and exam registration fee of about $ 600. Personally, I would pursue the CSEP program because it provides a better forum for enhancing my career. Its ability to link professionals with companies and its wholesome approach, makes it a better option than the CMP program. I would like to pose the following questions for clarification:-Are there any additional refresher courses available after the completion of the program(s)? Can a person pursue both the CMP and CSEP programs

Week 2 Essay Example | Topics and Well Written Essays - 750 words - 2

Week 2 - Essay Example I will also look for conflicts of interest within the article to ascertain its relevance to the topic. The above questions will help in critically appraising an article and give me enough evidence to judge whether the articles are fit to be used on the topic (Fineout-Overholt, Melnyk, Stillwell, & Williamson, 2010). There was a clear explanation of the study. The study was done to determine the relationship between the levels of education of nurses, years of work experience and medication errors to guide in the development of methods to reduce the errors. The sample size of the study was 47 BSN registered nurses. There were enough people in the study to establish that the findings were valid. In fact, the results of the study are linked to the surveys that were completed by the 47 participants two of which were discarded because of a lack of inclusion criteria. This research is important for clinical practice because it shows that the level of education and experience affects clinical practice, in this instance, nursing practice (Bailey, Engel, Luescher, & Taylor, 2008). Child abuse and maltreatment is not limited to a particular age and can occur in the infant, toddler, preschool and school age years. In the school-age year’s stage, the types of abuses that such children could face include sexual abuse, physical abuse, such as excessive punishment and emotional abuse, such as child neglect through isolation. The warning signs for child abuse in this age group will include withdrawal, extreme fear and anxiety, lack of concentration, lack of interest, sleeping in class, extreme hunger, malnourishment and physical wounds (Fang, Brown, Florence, & Mercy, 2012). Cultural variations of health practices that can be misidentified as child abuse exist. For instance, in certain cultures, children above 5 years can help in work duties especially if they are boys. In other cultures for instance

Latino Narrative film Essay Example | Topics and Well Written Essays - 1750 words

Latino Narrative film - Essay Example The 2002 movie Frida, directed by Julie Taymor, focuses on this transformational aspect of Kahlo’s personality while it immerses the viewer into the world of Frida’s love, creativity, marriage, passion and hatred. With Salma Hayek as Frida Kahlo in Frida, we step into the life story of the now world famous painter Kahlo. Her life seems to be a sequence of tough choices and a total challenge. Once suffering from polio as a kid, Kahlo managed to recover from this crippling disease only to find herself severely injured in a car accident, which left her physically disabled for the rest of her life. As she starts painting, Kahlo makes herself get together all her willpower to opt for this active life position rather than, bedridden, merely wait for the death coming. She goes through two volcanic yet artistically inspiring marriages to the renowned Mexican artist Diego Rivera (Alfred Molina). The film shows how throughout all her life-changing choices, Frida Kahlo manages to be â€Å"never conventional about anything she does†, to be â€Å"always herself† though it is often not easy (â€Å"Frida Movie†). The opening sequence starts with the protagonist being carried in bedridden out of her home. It then switches to Kahlo’s years at high school and the calamitous accident the heroine suffers just at 18. Frida gets pierced by a metal pole when a streetcar and the bus that she is riding collide. The injuries that Frida receives leave her disabled for the rest of her life, so that she moves on crutches, in wheelchairs, or stays in her bed. While she is confined to her bed with the shattered back, Frida’s father brings her canvas to help her recuperate from the accident. From that time on, Frida paints. Taking up painting is probably one of her most dramatic life-changing choices. My opinion can be explained by the fact that Frida’s works, as it is vividly shown in the film, are always along her life events. Whatever the surrealist artists goes through,

Critically assess Hindu film 'Daya Sagar' (1978) that depicts the life Essay

Critically assess Hindu film 'Daya Sagar' (1978) that depicts the life of Christ. In what way might your chosen film be said to be religious - Essay Example said to have had a long history of use as a missions tool in India, being used to tell the story of Christ to the Indian population in a presentation that makes them feel that they can own the story, since it presents the religious tale in a way that seems culturally relevant. In this sense, the film has a long history of presentation as a religious film. However, as a strictly academic matter, this raises an important set of questions: James Wall (1971), the editor of The Christian Advocate wrote a classic volume of film interpretation that begins with a consideration of censorship of such themes as sexuality in modern cinema and moves toward an aesthetic consideration of the filmmaker’s responsibility when presenting a film as a religious work. In the book, he argues that it is only natural for people oriented toward religion to move beyond a secular concern for assessing film according to religious values to developing standards that can direct the production of film that serves the purposes of religion in a more proactive manner. After all, he writes, concerning Christianity specifically, the need to communicate religious messages is felt as a requirement of the faith by adherents of religion, and film is a particularly good medium to use to communicate with the masses (p. 18). Once we consider the fact that, according to Christian doctrine, â€Å"all realms† are to be used for the Glory of God, i t is no longer controversial to consider the possibility that film, which is sometimes thought to deal mostly with serious secular topics such as drugs and sex, can be used to represent religion as well. In many ways, in fact, appropriating film as a religious tool is similar to the practice of putting Christian-themed lyrics to popular songs in bygone eras, including some tunes that may have been heard more likely in a saloon rather than a bar. It is using an evocative medium to tell a compelling message, and doing so in a way that appeals to the masses. One

Dispositions Essay Example | Topics and Well Written Essays - 2000 words

Dispositions - Essay Example This helps the teacher observe and learn the student’s individual strengths and weaknesses and assist them to improve appropriately (Calkins, 1983). The classroom environment is comfortable. This is evident through the seating arrangement and the overall outlook of the classroom. This tends to boost the students morale and enhances their learning and development. The group seems to be comfortable with each other and this is seen through the interactions that they have. This improves their learning capability because the learners are at ease. 1b). Instructional delivery The instructional delivery used in this class situation is, the teacher has invited the students to participate in the writing process and this improves students’ interest. Once the student has developed an interest in what they are learning, it becomes easier for the teacher to get through to them. The teacher has also monitored the subject of the course that would create an exciting experience for the s tudents. In the video, one of the students talks of how much they love mother’s day. This is a topic that would excite the children. During the learning process, another delivery method that the teacher used is to let the children share a fond experience, which is expressed with their writing. 2. Analysis, Exploration, and Reasoning 2a). Student-teacher interaction The student teacher interaction observed in this classroom situation is the one to one consultation that the teacher has with her students. The teacher seems to be attending to the students at an individual level. This improves the learning capability of the student. The students are actively participating in the teaching-learning activities. The teacher also ensures that there is participatory learning whereby each student actively participates and contributes to the lesson. The lesson is not teacher-centered. 2b). Tone of the teacher-student interaction The tone that the teacher uses is very friendly and slow, an d is geared towards making the children comfortable. When the students are in a learning situation, the kind of tone the teacher uses can determine the level of understanding of the students. The teacher also uses a tone which ensures that all the students hear and understand what is being said because the tone is loud enough (Bransford, Brown & Cocking, 2000). 2c). Level of student engagement with the lesson In the observed classroom, the students are engaged in many activities. One of the activities is drawing a picture of a place of their choice then writing about that place. This kind of student engagement is essential for their learning. After the sharing sessions, the other students are given a chance to discuss the work that has just been presented. This gives the student a chance to share their ideas and correct their fellow student. The students also get to learn from each other as they exchange vocabularies. Not all classrooms have this kind of engagement. 2d). Setting exp ectations for academic performance How the teacher reacts to the performance of a student substantially determines how the student will continue learning. The teacher has to set expectations for academic performance for every class. In the observed situation, the teacher does so by giving the students small tasks and letting the students share the work they have done. With this sharing the students can see what the other students have done. This helps the students not to feel discriminated due to their performance and instead try to be better. This kind of academic expectation does not interfere with the student’s self-esteem while helping them at the same time. The students are also expected to listen keenly to and strictly follow the

The Federal Reserve Essay Example for Free

The Federal Reserve Essay The Federal Reserve is a federal government department that is independent from political influence, so that they can regulate, and grant insurance to the people of the United States. It also functions as a backer of banks so that people do not lose their money. In addition they regulate the curricula ion of the money flow and set requirements that banks must follow. In the following we will explore the functions of the twelve Federal Reserve banks, and the reason that the Federal Reserve is considered the bankers bank. In addition the role of the Federal open Market committee will be explored in their role in economic policy. Also there will be exploration into why federal would want to decrease the money supply. The twelve Federal Reserve banks have three main functions that they must do, to keep the economy and money flow correct. The first is inspection of local banks within their jurisdiction to ensure they are living up to the regulations set by the Federal Reserve. There second main function is to infuse or take out money from circulation so that the circular flow is maintained at a proper level. In addition they process thousands of checks, and ensure that debit and credit transaction goes through smoothly [ (smale, 2010) ]. These main actions are essential in ensuring the economy and money flow operates correctly without problems. The reserve banks are considered the banker banks because; they store currency and make money available for the member banks. They also process  the checks and debits from the member banks. They are king of banks and regulate the banking industry in the process. They also control the flow of money, so that the value of it stays consistent and does not drop. This is essential in controlling the money flow and economic prosperity of the United States Economy. [ (education.org, 2012) ] The Federal open market committee is a committee that is made up of seven member board of governors, and five Federal Reserve Bank presidents. There role in monetary policy is that they determine what is best in day to day regulations of both the reserve banks and their members. In addition they set certain policies that affect the economy in different ways. They determine the amount of money and credit that will be available in the United States economy. There is to maintain stability and growth in the United States economy. They try to ensure enough reserve of money to encourage expansion of money and credit to the banks in their network. [ (board, 2012) ] The Federal Reserve would consider cutting the money supply to sure up the economy. If there is too much money out there and not enough want to use that money, it is not good for the economy. They control the money supply with rising or falling of interest rates. Higher interest rate result in less borrowing, this tightens up the money supply and allows the economy to even out in the long run. If they want to put more money into the economy they would lower interest rates and as a result more people are willing to borrow more money. They would want to cut the supply when they want and need to borrow money is not high. They would do this is the economy was starting to slow, and would keep the money supply lowered till the need and want for that money is granted again. Before the Federal Reserve was created there was times when people would not use banks, because if the bank failed they would lose all their money they had in the bank. This would result in people being scared to put money in the bank during economic hard times because of their fear of losing there life’s savings. The creation of the Federal Reserve gave people an insurance that there money would not be lost in the case of a bank going under. The  Federal Reserve would promise to pay this back to them if that happened. The Federal Reserve would also make economic decisions in the economy that would keep it more stable than before. The Federal reserve is a responsible for ensuring that the economy and money supply stays stable, and ensures that member banks run up to federal standards. The main functions of the open market committee are to regulate the flow of currency and keep in reserve of money so that it creates a stable United States economy and federal regulation. People were afraid to put money in the banks before the creation of the Federal Reserve banks. This would change after the creation of the federal banking system. At some points the Federal Reserve’s needs to limit the amount of money in the economy to ensure economic supply and demand. Works Cited board, T. f. (2012). The structure of the federal reserve. Retrieved January 15, 2012, from federalreserve.gov: http://www.federalreserve.gov/pubs/frseries/frseri2.htm education.org, F. (2012). The structure of the federal reserve. Retrieved January 15, 2012, from Federalreserve education.org: http://www.federalreserveeducation.org/about-the-fed/structure-and-functions/ smale, P. (2010, Novemeber 10). Congressional research service. Retrieved January 15, 2012, from www.fas.org: http://www.fas.org/sgp/crs/misc/RS20826.pdf

Human Resource Management of HM

Human Resource Management of HM This is a case study on HM, from a Strategic Human Resource Management perspective, based on publicly available details of HM, which has been analyzed and presented within the context of the perspective. This case study was prepared to meet the requirements of an academic exercise. HM was established in Vasteras, Sweden in 1947 by Erling Persson. HM sell clothes and cosmetics in around 2,000 stores around the world operates in 37 countries and has 76,000 employees all working to the same philosophy: to bring you fashion and quality at the best price. HM is a hugely successful multinational company. The success of HM is primarily based on the business model of entire design being done internally and centrally, manufacturing totally outsourced, but quality ensured and local retailing with hired places, local staff and local shop managers empowered to take decisions. The success, business growth and expansion plans were possible because HM have formatted their HR strategy in line with the corporate strategy. As evident from their Annual Report (2008), when they expand into new markets they do not lose sight of their core values. They have succeeded to manage all components of HRM effectively to ensure that core values are upheld in all parts, regardless of country and cultural differences. Their strategic and coherent approach in recognizing that the organizations most valued assets are the people working there, INTRODUCTION COMPANY STRATEGY: Hennes Mauritz (HM) was established in Vasteras, Sweden in 1947 by Erling Persson. HM offers fashion and quality at the best price and offers fashion for women, men, teenagers and children. The collections are created centrally by around 100 in-house designers together with buyers and pattern makers. HM also sells own-brand cosmetics, accessories and footwear. The stores are refreshed daily with new fashion items. In Sweden, Norway, Denmark, Finland, the Netherlands, Germany and Austria HM offers fashion by Internet and catalogue sales. HM does not own any factories, but instead buys its goods from around 700 independent suppliers, primarily in Asia and Europe. HM has about 16 production offices around the world, mainly in Asia and Europe. The turnover in 2009 was SEK 118,697 million. HM primarily operates in Europe, North America and Asia, and have around 2,000 stores spread over in 37 countries. The company is headquartered in Stockholm, Sweden. HM has grown significantly since it s beginnings in 1947 and at the end of the financial year had around 76,000 employees. The average number of employees in the Group, converted to fulltime positions, was 53,476 (53,430), of which 4,874 (4,924) are employed in Sweden. Around 79 percent of the employees were women and 21 percent were men. Women held 77 percent of the positions of responsibility within the company, such as store managers and country managers (AR2 2009). HMs strategy is to offer fashion and quality at the best price. HMs annual report (AR1 2009) emphasizes that quality relates to both. HMs products exceeding customer expectations, and also customers being satisfied with the company itself. The report states Taking responsibility for how our operations affect people and the environment is also an essential prerequisite for HMs continued profitability and growth. HM is driven by strong values such as commercial mindset, simplicity, constant improvement, cost consciousness and entrepreneurship states in annual report (2009:13). The World of HM (HM 2010) Long-term strategic plan goals of HM HM which is in the fashion retail industry. HM has stores in 37 different countries and employs over 76,000 people. The business concept of HM is very clear. It is offering to clients qualitative fashion clothing for low price. The company has its own team of designers, its own interior designer team, its own production factories, production partners and team for purchasing other brands production. It usually stock up HM cosmetics supply, making sure that those products will be cheaper than in other stores. Long term objectives are strategic plans company make for future five years. These objectives are set in seven key areas- productivity, profitability, competition, employee development, employee relations, technological leadership and public responsibility and show were company wants to be when they are achieved. Long term objectives have to be motivating, flexible, measurable, suitable, understandable, realistic and acceptable by employees. Three main strategic goals for HM for the next five years would be linked with profitability, competition and technological leadership. HM has reported a rise in sales and profits and sales for the three months to 31 August. Net profit for the third quarter of 2009 rose 4.1% to 3.46bn Swedish crowns from 3.33bn crowns last year. Sales, excluding sales tax, increased by 13% to 23.6bn crowns. So first LTO is to maintain financial stability HM has achieved. HM plans to increase sales revenues by 20% and earnings per share by 30% till 2015. Secondly as main strategy of HM is expansion, LTO in competition is to increase number of stores by 10% to 15% every year. Today HM has as 1840 stores up from 1618 at the same time last year. New stores will be open in the cities HM already has stores and also in completely new markets. In the Annual Report (2008:7), HM, CEO Rolf Ericsson states that the long term goal is to Make fashion available to everyone, give the customer a fashion experience that strengthens HM brand. They also state the goal of a 10-15% increase in the number of stores every year, which would be funded internally (2009). The aim to increase sales in existing stores, while focusing on quality and continued high profitability. How does HM want to get there? To execute its strategy HM focuses on 3 main aspects of its business concept in the annual report of 2009. Price, which is controlled by limiting the number of middlemen, buying in large volumes, relying on its in-depth, extensive expertise within the design, fashion, and textile industries, buying the right merchandise from the right production markets, being cost-conscious at all levels and maintaining effective distribution procedures. Design: Products are designed in-house and production is completely outsourced. Quality: Central emphasis on quality with extensive testing and ensuring least environment damage. Merger and Acquisitions: Acquisitions (like FaBric Scandinavian, the Swedish design company), and Design Collaborations (collaboration with Mathew Williamson) are adopted. SWOT Analysis (S)trengths One of the main reasons for HMs popularity is because of its trendy items for such a low price. This store offers quality clothing at department store prices which is rare for many retailers today. Strength for this company is their overall delivery time. It only takes 12 weeks to get an item from the design to its retail state which is very impressive for a worldwide, low price retailer. The average for retailers is usually about 6 months which is double the time that HM uses. They also manage to keep the stores brands fresh with guest designers coming in for different lines in the store. Some of these have been Madonna and Robert Cavalli. They also keep the prices affordable by using very few middlemen and buy large volumes cost consciously. But with these strengths come weaknesses as well. (W)eaknesses One of the strengths I mentioned above can also be a weakness for this company. Buying large volumes means that there is no real guarantee that all the items will be sold. This means that theyre already low prices may have to be lowered in order to make room for the next collection. This means that if these items are not sold in time, then the company will have to pay more for extra storage for the items not sold. Another weakness could be its wide range of customers this brand provides for. The range is for men between the ages of 18-45. This is not including the childrens clothing and maternity wear and the huge wide range of different styles they provide depending on what store you go into. This can be difficult to manage especially in a vertical company because there is no real focus on a target customer and gets more expensive to provide machinery for all these different groups of people. But with these huge leaps there are many opportunities for this company flour ish. (O)pportunities One good opportunity would be for HM is to have matching clothes for mothers and children. I think this would be a good opportunity because there are also maternity wear and childrens clothes and I think that it would appeal to a larger crowd. They would like to dress their children like them in the same styles. (T)hreats since HM is a brand that is very unique it has very few threats as far as retail chains go. One of these stores would have to be the clothing chain called ZARA. This is a store that also has fairly reasonable prices but is most famous for its rapid delivery time. It only takes two weeks for the design to make it into retail stores. Even with HMs time which is 50% faster than most retailers, cannot even compete with that time. The second threat to HM is Gap just because of their quality at reasonable prices and their wide range of people they reach as well with their vertical company as well. There is a market for babies as well as men and women Human Resources HMs corporate strategy is to expand on a continuing basis, and as a consequence, employee strength also increases continuously. The growth target is 10-15 percent new stores each year, which means that 6,000 -7,000 new jobs each year. Their staff is spread across approximately 37 countries and come from different cultural backgrounds. Their strategy is to recruit locally whenever a new store opens as stated in the annual report (2008). The main area for which HM may have clearly articulated policies are listed below. The policy areas are based on the categorization by Armstrong (2006). Overall Policy and Values: HMs website indicates that their objective is to be a good employer, including in those countries whose laws and regulations fall short of their own requirements. To quote the Head of HR In order to meet peoples expectations of HM as an attractive employer, the company develops global guide lines on diversity, equal rights and against discrimination (AR1 2008).At HM, HR activities are guided by a fundamental respect for the individual. This applies to every aspect from fair wages, working hours and freedom of association to the opportunity for growth and development within the company. This also indicates that the company has specific policies for areas such as Equal opportunity, Managing diversity, and Employee development, Health and Safety, among others. Employee Relations and Voice: HM has an open door policy granting all employees the right and the opportunity to discuss any work-related issue directly with management (AR1 2008). They also support their employees right and ability to organize and to decide who should represent them in the workplace (AR1 2008). HM has positive experience of open and constructive dialogue with the trade unions and they welcome such relations wherever they operate. They consider such cooperation to be essential if they are to become even better. Examples of collaboration on staffing issues include their agreement with UNI (Union Network International) and the work they do with the EWC (European Works Council). Promotion: In the annual report of HM (2008:34) the Head of HR quoted Internal recruitment and job rotation enable the company to grow quickly. This statement indicates that HM has policies related to promotion. Employee Development: To quote Mr. Par Darj, Head of HR at HM I tell employees, if you do not grow neither will HM (AR1 2008:34). This indicates that policies exist for this area. Rewards: According to the annual report (2008) HM focuses on rewarding people by providing more opportunities and responsibilities, and not through a promotions and job titles. This indicates that HM has policies for this area. Other areas with clearly defined policies might exist, but these are not evident from available sources. Organization Behaviour and Structure Structure: Corporate management is based at HMs head office in Stockholm. Stockholm is also where the main departments for design and buying, finance, accounts, expansion, interior design and display, advertising, communications, IR, HR, logistics, security, IT and CSR and environment are located. HM has around 16 country offices that are responsible for the various departments in each sales country. HM also has around 16 production offices which take care of contacts with the approximately 700 independent suppliers that HM works with. There are nine production offices in Europe, eleven in Asia and one in Africa. Behaviour: HM operates in 37 countries and has a work force belonging to these 37 countries because they recruit locally. HMs espoused values are stated to be the foundation for a multinational company in a multi cultural market where great respect is paid to the individual. Interviews with the CEO and Head of HR in the annual report indicate a participative culture where everyone is made to feel like a part of the companys success (AR1 2008:34). Par Darj (Head of HR) stated in the annual report the key word for continual growth is responsibility and commitment. We have committed employees and we are prepared to delegate responsibility at every level. The company encourages what it calls the The HM spirit employees committed to their work and prepared to take on new challenges, common sense, hard work and team spirit are encouraged. All their operations are typified by an essential respect for the individual; including reasonable wages, reasonable hours, and opportunity to grow, and develop within the company (AR1 2008). Quotes from employees about the organizational climate indicate that the values above are values in use. These quotes can be found on the career section and in the annual report of HM. Based on this information; the prevalent culture appears to be primarily task oriented (Schein 1985). Such a culture can support HM HR related strategies and policies (like Open door, job rotation, freedom of association etc.). They also have a significant impact on HR aspects; Recruitment needs to focus on finding candidates with the right fit to the organizational culture irrespective of local culture, facilitating expatriation of experienced staff when new stores are opened, facilitating rewards schemes aligned with organizational culture, enabling HRD that can empower employees to take on new challenges and work in new teams. At HM, a lot of importance is given to personality development and for opportunity for the employees to grow within the organization. Various practices empowering the employees; like a Shop Manger being allowed to take independent decisions, and managing the business like an entrepreneur etc. are designed to increase employee loyalty and commitment to the organization and are great motivators (AR1 2008). The HR strategy for employee motivation; total reward with emphasis on Intrinsic Motivation (Armstrong 2006), has been proven, to be directly related to forming the success of the organization. All their operations are typified by an essential respect for the individual; including reasonable wages, reasonable hours, opportunity to grow and develop within the company (AR1 2008) The prevailing organizational culture at HM encourages team work, supports effective leadership and provides adequate growth opportunity for employees. These HR strategic initiatives in turn make significant co ntributions to the organizational goals of continuing growth and profitability. Organization Culture HMs strong corporate culture the spirit of HM has existed ever since the days of HMs founder, Erling Persson. This strong culture is of great value and is a contributory factor to HMs successes over the years. The spirit of HM: The spirit of HM is based on a number of values that describe in simple terms how we want to work. These are in turn based on our business concept, fashion and quality at the best price. The fundamental values behind the spirit of HM are among other things common sense and own initiative. HM provide room for people to make their own decisions and take responsibility, and co-workers get regular feedback on their performance. An important part of HMs culture is to delegate responsibilities to the stores. Strong commitment and involvement are important, and co-workers are encouraged to take their own initiatives within a defined framework. Creativity and job satisfaction increase when there is a good working environment. Co-workers commitment makes a major contribution to HMs successes. HM believe in the abilities of the individual and encourage co-workers to develop further. Respect for the individual is a fundamental value at HM. This applies to everything from fair pay, reasonable working hours and freedom of association to the opportunity to grow and develop with the company. Job rotation is common at HM. In the stores, for example, duties may vary between the cash desk, fitting rooms, unpacking, display and follow-up of advertising and campaigns. Working in the store provides very important experience and is a way of getting to know HM from its very foundation. Attracting and retaining skilled staff is important for HMs success therefore HM work constantly on skills development and all training is carried out within HM. However, the biggest knowledge gain is made through active learning on the job. Information System HM has employee-scheduling system to improve its use of staff resources and maximise time spent by staff on the shop floor. The Swedish clothing company implemented. 30,000 employees swipe in and out with smartcards at the beginning and end of their shifts. The system reduced administration by recording shifts electronically and helped improve sales by scheduling shifts to coincide with the busiest times in stores. The scheduling application is linked to HMs human resources and payroll systems, which lets the retailer control staff costs more accurately. The Workforce Management application from software supplier Work Place Systems will be hosted at a data centre in Stockholm. Motivation at HM HM is a flat organization, which might give the impression that its hard to move up within HM, the organization is constantly evolving and is growing fast, thus providing more opportunities to its employees. Employees are motivated by providing new challenges; in another department, another role or, another country. HM encourages employees to try many different roles within their organization stated in annual report part 1 and 2 (2008). HM recruitment advertisements indicate possibilities like: working abroad, furthering education and learning new things. Their websites promotes that many in management today, actually started on the shop floor. HM also provides a comprehensive benefits package. HM fulfils employee aspirations by providing opportunities to take more responsibilities. Individual development versus organisational development. HMs annual report (AR1 2008) and website (Careers website), emphasize that working at HM is about commitment, both from the individual and the organization. HMs Head of HR emphasizes that organization can grow only if the individuals grow. HM wont make a career plans for their employees, but will provide them with tools to go as far as they possibly can on their own. This indicates that at HM, individuals are expected to drive their own development, within the framework that the organization provides. The organization appears to facilitate and promote cross-functional and cross-boundary development opportunities for individuals, which is aligned with their own development and growth strategies. To quote PÃ ¤r Darj, (Head of HR), We have committed employees and we are prepared to delegate responsibility at every level. I tell employees, if you do not grow neither will HM, (AR1 2008:34). This indicates that HM treats individual development and organizational development as tightly linked areas. Selection Recruitment The HR strategy, which is closely aligned with the organizational strategy to achieve continuing growth and profitability, envisages recruitment of people every year to run the new stores scheduled to be opened. For example, as per their Annual report (AR1 2008), about 6000 7000 employees are to be recruited during this financial year, to meet the requirements of the 225 new stores being opened worldwide. The planning and recruitment is based on the HR policy to recruit locally when a new store is opened. Future employees are evaluated and chosen according to certain criteria practiced by HM and based on the companys culture. They look for people with personality who can perform well within the culture, growth and motivational framework provided at HM. Par Darj, Head of HR stated, At HM, great grades and all the university credits in the world are no guarantee of a job or a fast-track career. Of course, we do welcome those things, but what we are really looking for, more than anything, is people with the right personality. This is based on the belief that one can always gather skills as you go along, but personality and attitude cant be taught. Either youve got it or you dont. One of the most important things we look for is drive (AR1 2008). HM values personal qualities much more than formal qualifications. Since HM is a fast company and the tempo is always high, they need employees who are self-driven and capable of well direct communication. Hence HM recruits people who like responsibility and decision-making also it indicates that a love of fashion combined with a focus on sales is perceived as an adva ntage. These appear to form the basis for HMs recruitment requirements (and person specifications), programmes and drive its selection processes. At HM selection interview approach is usually face to face and mostly structured situational based According to Armstrong (2006) In a situational based interview the focus in on a number of situation or incidents in which behaviour can be regarded as being particularly suggestive of succeeding performance. This is followed by panel interviews and aptitude/work sample tests. It appears that candidates are filtered at each stage of the process in HM. Sources of candidates: Internal Recruitment: This is their first choice for a new job opening. External recruitment is considered only if no internal options are available. External recruitment: Potential recruits (minimum age is 16 years) are encouraged to apply directly to the local store, from the careers website. HM does not offer summer jobs or work experience placements. Buying is centralized in Stockholm, and so is the recruitment for the same. HM recruits locally to its new stores (AR1 2008). Organisational learning and management development in HM. The average numbers of training days per employee in 2008 are, 10 for new sales staff, 1 for existing sales staff and 5 for existing management positions. HM usually conducts all training in-house (classroom, stores and one to one), written and produced by HM staff. External training has been considered for some areas like buying. E-learning has also been initiated for a few subjects (AR 2008). However, indications are that HM today focuses more on on-the-job, just- in time, hands on learning. For example, when they opened their first HM store in Japan, locally recruited employees were sent to Norway and Germany for gaining experience in existing operations. Also, during the sales intensive opening phase of a new store, colleagues from other countries are brought in temporarily (AR 2008). The head of HR quoted in annual report (2008:34) As an employee of HM, you can be an entrepreneur and you will be given responsibility early on. HM claims to provide structured opportunities for on-the-job, hands on and work place based training. To summarize, it appears that HM focuses on experiential Self-directed learning today as defined by Armstrong (2006), however, they are moving towards incorporating a blended approach with including simulation and e-learning. Ensuring Learning and Development opportunities for its employees is an integral part of the HR strategy at HM (AR1 2008), and these essential ingredients contribute significantly to the success of the organization. Human Resource Development is a continuing process at HM, the new recruits being sent to already existing shops for gaining valuable experience, experienced employees being brought to new shops to support the new local recruits during the intensive opening period activity etc. This is critical to the process of organizational learning and helps them climb the learning curve faster. Keeping employees highly motivated is essential to the success of HM, due to the nature of its business of dealing in high fashion consumer goods. The various concepts that can be adopted to increase performance (like job satisfaction as a reward management tool) are very effectively employed and as the employees themselves state, they are happy to be there and every day is a challenge (AR1 200 9). Expectancy Theory, which states that if individuals feel that the outcome of learning is likely to benefit them, they will be more inclined to prove it (Armstrong 2006) has been proven on the shop floors of HM. The HR practice of giving responsibility to the employees early on in their career, treating them as entrepreneurs rather than just employees is a definite and positive step towards their development. Considering the employees as capable of shaping its results and improving it in big and small ways and is key to HMs approach to learning and development. Reward Management The reward management process of HM and its potential influence on human resource management. HMs careers website indicates that the company offers a comprehensive benefits package, which includes staff discounts, incentive bonuses, company sick pay, private health care a pension scheme. Share options are not provided. The head of HR, indicates that they do not consider titles and pay structures as motivational tools. Opportunities to fulfil an employees aspirations by wanting more responsibility, as a means of getting on with in the organization quickly, are provided. Apart from these, as stated by different categories of employees on the careers site and the annual report, the main reward is the job satisfaction they derive. Thus, HM appears to provide a total reward framework, with greater emphasis on relational rewards even though transactional rewards are provided (Armstrong 2006). HMs reward management is consistent with other HR areas, including organizational culture, recruitment/selection etc. and is also in sync with the overall HR strategy of open doors, job rotation etc. which is essential to fulfil HMs strategy of fast growth. HM has implemented the concept of Total Reward Management very successfully. Apart from the financial compensation, job satisfaction as a reward has motivated the employees to perform and contribute their maximum to ensure customer satisfaction and business success through increased sales. This is evident in the statements by the employees from various levels on the HM website. As a stated policy, there is more emphasis on personality development through delegated authority in the decision making process and greater autonomy to local elements of the organizational structure. Being a multinational company with employees of different cultures, this decentralized decision making process and empowerment of employees have proven direct impact on the success of HM (AR1 2008) Various techniques associated with basic motivation have been given more importance and priority than the extrinsic aspects. Work environment related parameters like leadership, employee voice, recognition, achievement etc. have been built in to the HR policy and practiced to leverage the critical business goals of continuing growth and increased profitability. Performance Management HM has adopted a strategic and integrated approach to achieve organizational success through improved performance of its employees. HM employees have been told that the growth of the employees and the organization are closely linked (AR1 2008). The practice of Shop Managers going through a process of reviewing that days business with their subordinates on a daily basis is part of the performance management activity. This underlines the fact that HM has recognized the importance of such a practice, and built in that process by which managers and their subordinates work together, agree on what needs to be done and how it is done. They are able to plan, prioritize and develop their sales team in a customer-focused environment (AR1 2008). At HM a shop manager is in charge of the daily running of the store like running their own business. The HR strategy of delegating authority for managing the shops activities is a key factor contributing to the success of the organization. Managing Diversity in teams and groups HM is expanding its business to open new shops in countries where they are currently not present. By their HR policy and procedures, when a new shop is opened the staff recruited locally. They also have the practice of job rotation and movement of employees from one location to another based on internal recruitment (promotions). This brings together people of different cultural back grounds together in the same team, and successfully managing such a team is crucial to the success of the organization. The HR strategy is, not to have very rigid procedures, and the corporate culture of respect to the individual. As stated in their Annual Report (AR1 2008), the HR strategy ensure the following: 1. In order to meet peoples expectations of HM as an attractive employer, company develops global guide lines on diversity, equal rights and against discrimination. 2. HMs objective is to be a good employer, including in those countries whose laws and regulations fall short of their own requirements. The whole of their activity is shaped by a fundamental respect for the individual. This applies to every aspect from fair wages, working hours and freedom of association to the opportunity for growth and development within the company (AR1, 2008). 3. HM has positive experience of open and constructive dialogue with the trade unions and they welcome such relations wherever they operate. They consider that cooperation is essential if they are to become even better. Examples of collaboration on staffing issues include their agreement with UNI (Union Network International) and the work they do with the EWC (European Works Council). (AR 2008) HMs success in executing their strategy of continuous international growth and expansion, while maintaining its Swedish organizational culture, indicates that its HR practices have contributed to the successful management of diversity in teams and groups. Recommendations Conclusion Issue and challenge at HM could be: nurturing and maintaining a balanced relationship with employees. Line managers may need good awareness of their reporters aspirations, to enable motivation by providing responsibilities and opportunities al

Essay --

"The Glass Menagerie" by Tennessee Williams shows the struggle of two people to fit into society, Tom and Laura, and how society wouldn't accept them. They were the dreamers that were unjustly kept out and you may even go as far as to say persecuted into staying out and aloof like the other dreamers which are forced to become outcasts and not contribute to the actions of all. Tom and Laura, the two dreamers, were pushed by their mom, Amanda, to her frame of mind and the thoughts of a hard working society. They both stumbled on the fire escape which served as a gateway, physically and mentally. Tom had the problem of fitting in at the warehouse were he worked, because is the warehouse really a place for someone like him and his mind rebelled. Lastly you can see how society forced them to change and Laura to lose her status in order to fit in with Jim and that's shown by the horn breaking. Tom then realizes that and leaves which causes him to change too. Tennessee Williams artfully depicted this. The fire escape. A downtrodden red thing off the sides of buildings showing societies ineffectual escape from itself. In this case it served as a passageway between the real world and the dream one that Laura and Tom were living in at home. Both somehow stumbled both physically and mentally. When Laura said â€Å"I'm all right. I slipped but I'm all right†(47). She was trying to pass to the real world to do a real job and couldn't because of societies â€Å"inability† to accept her and her ways. She wasn't strong enough to make the trip by herself, but needed the moral support of the other dreamer in the area, which was Tom who came running out. Tom is the one who stumbles mentally in his inability to look at t... ...lizing that he was changing to Amanda's way of thinking, so he left. upon his leaving he lost his dreaming ability anyway. It was ironic how he no longer dreamed because he felt he was seeing the dreams in real life, as society had again forced him out. As you can see Tom and Laura were dreamers which were unaccepted into society. Laura lost her dreaming when the unicorn lost it's horn and tom then lost his upon doing the first thing he had dreamed about because he stayed that way and didn't dream about going any higher. Ultimately Tennessee Wiliiams message was that society was rigid and it forced those which did not fit the mold to change into a from which was acceptable. That we killed the dreamers and are till doing it at an even younger age. We have to Accept them with open arms if ever we are able to make it far into the future and survive.

jane eyre, a passage to india , and the tempest :: essays research papers

  Ã‚  Ã‚  Ã‚  Ã‚  Jane Eyre, A passage to India, and The Tempest all hold within their covers’ stories of women or girls who knowingly and unknowingly affected the lives of men they were involved with. However, the females’ range of influence does vary between the books due the writer’s opinions of the female sex. The strength and influence of women did and will continue to have an affect on the men they are surrounded by as well as our society as a whole.   Ã‚  Ã‚  Ã‚  Ã‚  Jane Eyre begins as a young, weak girl and buds into a strong, independent woman. Because of her strength and amount of growth she is able to influence and change one very important man in her life. Mr. Rochester when he meets Jane is a very cold man. He loves no one, not Adele the child that is possibly his of Miss. Ingram a woman he would soon be engaged to. As her time a Thornfield Hall lengthens the reader watches his transformation from the man calling her Miss. Eyre to the man who begs her love him, stay with him and marry him. Charlotte Bronte shows through Jane’s impact on Rochester, as well as her own metamorphosis, that women are strong and capable as well as important to their society and the men they meet. The influence Jane had on Rochester and the fortitude she showed would allow society to see what a woman is capable of and in turn has the women reading encouraged to do the same. The way Bronte portrayed Jane affected not only Rochester but t he women and men of society today.   Ã‚  Ã‚  Ã‚  Ã‚  Dr. Azziz, when met with Mrs. Moore, is immediately drawn to her. He befriends her and through this friendship he is changes. Before he knew Mrs. Moore he didn’t have a strong liking of the English though he tolerated and even got along with them. Mrs. Moore, however, gave him a way to understand them and because of her influence he began friendships with Mr. Fielding and Mrs. Quested. After the cave incident the way Mrs. Moore viewed life had changed and she became a very negative person. Dr. Azziz just like Mrs. Moore became very angry and negative when she in a way abandoned him. Mrs. Moore’s character has the ability to make society take a second look at the muddle of India and consider is as more than that.

Customer Satisfaction Towards E-Banking Services: a Case Study on Ific Bank Ltd.

Prelude In a constantly changing world of today, where past is replaced by dynamic present and the dynamic present is being replaced by more challenging future, the old ways of doing things is no longer valid. Change is permanent and a reality. Those who are not able to keep pace with the changes are destined to loose the race. Science and technology is changing the way financial institutions perform their transactions. Today’s banks are shaking by these technological changes. Life has never been so easy, comfortable, and luxurious. Science and technology have brought our life to this stage. But a new technology brings with it not only the potential for success but also a never-ending series of questions regarding its design, its value to its users, ultimate use and acceptability. E-banking is the waves of the future. It provides enormous benefits to consumers in terms of case and cost of transactions, either through internet, telephone or other electronic delivery channels. For many consumers, electronic banking means 24-hours access to cash through an Automated Teller Machine (ATM) or Direct Deposit of paychecks into checking or savings accounts. But electronic banking now involves many different types of transactions. E-banking is a form of banking where funds are transferred through an exchange of electronic signals between financial institution, rather than exchange of cash, cheeks or other negotiable instruments. With the expansion of global Information and Communication Technology (ICT) infrastructure and the internet, e-banking is set to play a pivotal role in the national economy, proper software, infrastructure, cyber low and skilled manpower are important for the implementation of e-banking in a country. The concept of e-banking includes all types of banking activities performed through electronic networks. E-banking includes activities like payment of bills and invoices, transfer of funds between accounts, applying for a loan, payment of loan installments, sending funds to third parties via emails or internet connections regardless of where the client is located. Since e-banking offers some smart services benefiting both banks and customers compared with traditional banking system, it has become imperative to make necessary room for the scheduled banks to flourish e- banking. Since e-banking offers some smart services benefiting both banks and customers compared with traditional banking system, it has become imperative to make necessary room for the scheduled banks to flourish e-banking. Among others, attractiveness of e-banking includes: ? it lowers transaction cost; ? provide 24-hour services; ? ensure increased security and control over transactions; ? reduces fraud risk; ? performs higher volume of transactions with less time; ? increases number and volume of value payment through banks; ? llows remote transactions facilities that replace physical presence of a customer in a bank branch and; ? increases transaction speed and accuracy. On the other hand, traditional banking is time-consuming and more costly and therefore, e-banking is replacing traditional banking all over the world. Especially with the increasing acceptability of digital signatures around the world, e-banking has made life much easier and banking much faster and more pleasant, for cus tomers as well as for bankers. Problem Statement Customer satisfaction is required for the banking sector to raise profitability, business growth and success. Customer perception is very important to add value of the banking services and products. E-banking is the waves of the future. It can provide speedier, faster, reliable services to the customers for which they are relatively happy. It provides enormous benefits to consumers in terms of case and cost of transactions, either through internet, telephone or other electronic delivery channels. A new technology brings with it not only the potential for success, but also a never-ending series of questions regarding its design, its value to the user, its ultimate use and acceptability. Although there has been significant effort made to eliminate paper-based payment transactions, the basic way of handling payments by consumers has not changed. The study has been undertaken to evaluate the reaction of the customers towards the e-banking services. Research Objectives E-banking services provide smart replacement of traditional banking services and benefit both the bankers and the customers. But in Bangladesh, due to presence of some constrains, e-banking is not flourishing as it should do. The main objective of this research study is to find out the reaction of the customers towards the e-banking services. In this context, the specific objectives would be to observe – ? The types of e-banking facilities a bank, in this case IFIC Bank Ltd. , offers to its customers; ? The factors that satisfy the customers in receiving e-banking facilities offered by the bank; ? The constraints the customers face in adopting e-banking facilities; ? The expectations and recommendations of the customers towards e-banking services. Literature Review A. E-Banking in Bangladesh In Bangladesh, e-banking facilities are yet to be fully developed although some technology driven products and services have been in operation over the last few years. The existing technology driven products and services offered by the traditional banks are ATM services, debit card and credit card, transactions through POS terminals, inter-branch online transactions through individualized online closed network of individual bank, limited customer services provided through internet and membership of SWIFT allowing scheduled banks to conduct wireless transactions especially e-transactions. All these technology based products and services have obviously unlocked the way to step toward e-banking. Moreover, as a part of modernizing national payment and settlement system, Bangladesh Automated Clearing House (BACH) that includes Bangladesh Automated Cheque Processing System (BACPS), and Bangladesh Electronic Fund Transfer Network (BEFTN), is being implemented under the â€Å"Remittance and Payments Partnership† (RPP) project of the Bangladesh Bank funded by DFID-UK is expected to speed up the adoption of e-banking as well. E-banking at per international standard is yet to develop in Bangladesh. At present, several private commercial banks (PCBs) and foreign commercial banks (FCBs) offer limited services of telebanking, internet banking, and online banking facilities working within the branches of individual bank in a closed network environment. As a part of stepping towards e-banking, the FCBs have played the pioneering role with adoption of modern technology in retail banking during the early 1990s whereas the state-owned commercial banks (SCBs) and PCBs came forward with such services in a limited scale during the late 1990s. Moreover, the banking industry as a whole, except for the four specialized banks (SBs), rushed to offer technology based banking services during the middle of the current decade. Online Banking: Transactions in online banking are performed within closed network for which the customer use specialized software provided by the respective bank. International standard online banking facilities are expanding in Bangladesh. At present, 29 scheduled banks offer any branch banking facilities through their respective bank online network that provides facilities like transaction through any branch under the respective bank online network; payment against pay order or pay order encashment, demand draft encashment, opening or redemption of FDR from any branch of the same bank; remote fund transfer, cash withdrawal, cash deposit, account statement, clearing and balance enquiry within branches of the same bank; and L/C opening, loan repayment facility to and from any branch of respective bank under its own online network. Inter-bank transactions or transaction between inter bank branches are yet to expand. Under the modernization program of the National Payment and Settlement System, Bangladesh Automated Clearing House (which includes Bangladesh Automated Cheque Processing System and Bangladesh Electronic Fund Transfer Network) came into effect from September 2009 followed by implementation of online banking at per international standard in near future. Internet Banking: Internet banking refers to the use of internet as a remote delivery channel for banking services which permits the customer to conduct transactions from any terminal with access to the internet. It is the WWW through which banks can reach their customers directly with no intermediaries. Internet banking in true sense is still absent in Bangladesh. Only 7 out of 47 banks are providing some banking services via internet that include account balance enquiry, fund transfer among accounts of the same customer, opening or modifying term deposit account, cheque book or pay order request, exchange rate or interest rate enquiry, bills payment, account summary, account details, account activity, standing instructions, loan repayment, loan information, statement request, ,cheque status enquiry, stop payment cheque, refill prepaid card, password change, L/C application, bank guarantee application, lost card (debit/credit) reporting, pay credit card dues, view credit card statement, or check balance. The core banking activities like fund transfer to third party, cross border transactions and so on are still uncovered by internet banking offered by the scheduled banks in Bangladesh. Mobile Banking: Mobile banking (also known as M-banking or SMS banking) is a term used for performing balance checks, account transactions, payments etc. via a mobile device such as a mobile phone. Mobile banking is most often performed via SMS or the Mobile Internet but can also use special programs called clients downloaded to the mobile device. The standard package of activities that mobile banking covers are: mini-statements and checking of account history; alerts on account activity or passing of set thresholds; monitoring of term deposits; access to loan statements; access to card statements; mutual funds/equity statements; insurance policy management; pension plan management; status on cheque, stop payment on cheque; ordering check books; balance checking in the account; recent transactions; due date of payment (functionality for stop, change and deleting of payments); PIN provision, change of PIN and reminder over the internet; blocking of (lost/stolen) cards; domestic and international fund transfers; micro-payment handling; mobile recharging; commercial payment processing; bill payment processing; peer to peer payments; withdrawal at banking agent; and deposit at banking agent. Despite huge prospects, only a few banks adopted mobile banking in Bangladesh during the last year. Tele Banking: Tele banking refers to the services provided through phone that requires the customers to dial a particular telephone number to have access to an account which provides several options of services. Despite huge potential, telebanking services have not been widened enough in daily banking activities in Bangladesh. Only four banks so far provide a few options of telebanking services such as detail account information, balance inquiry, information about products or services, ATM card activation, cheque book related service, bills payment, credit card service and so on. Funds transfer between current, savings and credit card account, stock exchange transactions etc are still inaccessible through telebanking in Bangladesh. B. Prospects of e-Banking in Bangladesh E-banking is now a global phenomenon. Apart from the developed countries, the developing countries are experiencing strong growth in e-banking. The government’s emphasis on building a digital Bangladesh, setting up ICT park, raising allocation for developing ICT infrastructure, waiving taxes on computer peripherals and other measures including the automation program of banking sector led by the Bangladesh Bank and competition among the scheduled banks in improving customer services have accelerated the prospects of e-banking in Bangladesh. Bangladesh Bank is implementing the RPP project for modernizing national payment and settlement system. The BACH including BACPS and BEFTN has started functioning from September 2009 followed by the development of inter-bank online network. The project plans to go for real time gross settlement (RTGS) by 2012. It has been made mandatory for all head offices of the scheduled banks to be connected with Bangladesh Bank for satisfying BACH and BEFTN. These efforts would allow the scheduled banks to be connected to each other for conducting inter-bank online transactions in near future and this would smoothen the introduction of e-banking in Bangladesh. Internet services came to Bangladesh with connectivity in 1996. Digital telephone exchanges have been established in 389 upazilas and 17 growth centres. Work is underway to cover the rest of the upazilas under digital exchange system. Meanwhile, Bangladesh has joined the information super-highway by connecting itself with international submarine cable system in 2006. A total of 159 Internet Service Providers (ISPs) have now been connected with this system of which 64 are actively providing services. Internet connection is slow with bandwidth range 32 kbps to 56 kbps for dial up and 64 kbps to 8 mbps for broadband. The establishment of internet exchange is under implementation. Encryption laws to accept electronic authentication of transactions has been enacted in 2006 and Voice over Internet Protocol (VoIP) has been legalized. Under this scenario, as a part of government decision of building digital Bangladesh, the existing capabilities of ICT sector is likely to increase rapidly in bringing all upazilas under internet services and this will contribute in widening the scope of e-banking throughout the country. Although all branches of FCBs and 99% branches of PCBs were computerized by December 2006, the average for all bank branches was 37% since only 4% and 16% of SBs and SCBs respectively were computerized. Out of a total of 6,565 branches in 2006, 2,426 were computerized of which 651 branches of 22 PCBs and 7 FCBs together were providing any-branch-banking facility under respective bank online network. During the period, the number of ATM booths and POS terminals stood at 478 and 4,647 respectively covering important merchant outlets in six divisional cities and some other important district towns in Bangladesh while 43 banks became the member of SWIFT and 25 banks adopted router connection. Since about 50% of total bank branches belong to SCBs spread throughout the country including the rural areas, ICT penetration is crucial for this category of banks. The recent corporatization of the NCBs, would influence the banks in this category to be competitive through improving their service quality incorporating the use of modern technology. Although all these are positive developments, more attention is needed to enhance ICT capabilities of the banking system especially the SCBs for successful implementation of e-banking all over the country. Although e-banking has bright prospects, it involves some financial risks as well. The major risk of e-banking includes operational risks (e. g. security risks, system design, implementation and maintenance risks); customer misuse of products and services risks; legal risks (e. g. without proper legal support, money laundering may be influenced); strategic risks; reputation risks (e. g. in case the bank fails to provide secure and trouble free e-banking services, this will cause reputation risk); credit risks; market risks; and liquidity risks. Therefore, identification of relevant risks, and formulation and implementation of proper risk mitigation policies and strategies are important for the scheduled banks while performing e-banking. In Bangladesh, despite huge demand from the business community as well as the retail customers particularly the urban customers, the expansion of e-banking is beset with several infrastructural, institutional, and regulatory constraints such as unavailability of a backbone network connecting the whole country; inadequacy of reliable and secure information infrastructure especially telecommunication infrastructure; sluggish ICT penetration in banking sector; insufficient legal and regulatory support for adopting e-banking and so on. In Bangladesh, telephone connectivity is inadequate, cost of PCs are still beyond purchasing capacity of most people, internet connection is costly, IT literacy is yet to reach satisfactory level, banking sector lacks skilled IT personnel, and huge investment requirement for establishing technology based banking services are prime drawbacks. Despite the constraints, efforts by the Bangladesh Bank in modernizing the country's payment system and commitment by the government in building ‘Digital Bangladesh’ have brought competition among the scheduled banks to improve banking services and rapidly adopt e-banking on a wider scale. Research Design Since the research is conducted to find out the factors that satisfy the customers towards e-banking, the constraints they face in adopting e-banking facilities and their expectations and recommendations towards e-banking, the research is particularly suited as an exploratory research. Data Collection Methods For the purpose of the study both primary and secondary data have been used. Primary data have been collected from the customers through depth interview with the help of a questionnaire, which is attached with this report in Appendix I. In case of secondary data, the data has been collected from the websites, brochures, annual reports, and manuals of IFIC Bank Ltd. Sample Design The target population for the study was all the customers of IFIC Bank Ltd. who receive e-banking services from the bank. Elephant Road Branch of IFIC Bank Ltd. is selected as the sampling unit. All the customers of the branch who have used e-banking services constituted the sampling frame. A sample size of 30 customers has been selected. The sample was selected using convenience sampling. Analysis Qualitative analysis of the facts found through depth interview of the customers and secondary data collected through other sources is done throughout the research. This qualitative analysis is totally a judgmental analysis of the researcher. Here, no quantitative analysis is done. To find out the reactions of the customers towards e-banking services it is tried to find out whether the customers use the e-banking services frequently; people of which occupation use the service frequently; if the customers are comfortable with using the e-banking services or not; if they are satisfied what factors make them satisfied; if the customers are facing constraints, what type of constraints they are facing; what the customers suggest to diversify away those constraints; and lastly what the customers expect more from the bank regarding e-banking services. Overview of IFIC Bank Ltd. International Finance Investment and Commerce Bank Limited (IFIC Bank) is a banking company incorporated in the People's Republic of Bangladesh with limited liability. It was set up at the instance of the Government in 1976 as a joint venture between the Government of Bangladesh and sponsors in the private sector with the objective of working as a finance company within the country and setting up joint venture banks/financial institutions abroad. The Government held 49 per cent shares and the rest 51 per cent were held by the sponsors and general public. In 1983 when the Government allowed banks in the private sector, IFIC was converted into a full-fledged commercial bank. The Government of the People’s Republic of Bangladesh now holds 35% of the share capital of the Bank. Leading industrialists of the country having vast experience in the field of trade and commerce own 34% of the share capital and the rest is held by the general public. The Bank’s mission is to provide service to the clients with the help of a skilled and dedicated workforce whose creative talents, innovative actions and competitive edge make its position unique in giving quality service to all institutions and individuals. The bank is committed to the welfare and economic prosperity of the people and the community, for it drives from them the inspiration and drive for onward progress to prosperity. The bank wants to be the leader among banks in Bangladesh and make indelible mark as an active partner in regional banking operating beyond the national boundary. In an intensely competitive and complex financial and business environment, we particularly focus on growth and profitability of all concerned. Milestones in the development of IFIC BANK |1976 |Established as an Investment & Finance Company under arrangement of joint venture with the govt. of Bangladesh. | |1980 |Commenced operation in Foreign Exchange Business in a limited scale. | |1982 |Obtained permission from the Govt. to operate as a commercial bank. | |Set up a its first overseas joint venture (Bank of Maldives Limited) in the Republic of Maldives (IFIC's share in Bank | | |of Maldives Limited was subsequently sold to Maldives Govt. in 1992) | |1983 |Commenced operation as a full-fledged commercial bank in Bangladesh. | |1985 |Set up a joint venture Exchange Company in the Sultanate of Oman, titled Oman Bangladesh Exchange Company (subsequently| | |renamed as Oman International Exchange, LLC). | |1987 |Set up its first overseas branch in Pakistan at Karachi. | |1993 |Set up its second overseas branch in Pakistan at Lahore. |1994 |Set up its first joint venture in Nepal for banking operation, titled Nepal Bangladesh Bank Ltd. | |1999 |Set up its 2nd joint venture in Nepal for lease financing, titled Nepal Bangladesh Finance & leasing Co. Ltd. which was| | |merged with NBBL in 2007 | |2003 |Overseas Branches in Pakistan amalgamated with NDLC, to establish a joint venture bank: NDLC-IFIC Bank Ltd. , | | |subsequently renamed as NIB Bank Ltd. | |2005 |Acquired MISYS solution for real time on-line banking application. | | |Core Risk Management implemented. | |2006 |Corporate Branding introduced. | |Visa Principal and Plus (Issuer and Require) Program Participant Membership obtained. | |2008 |Observing 25th Anniversary of Customer Satisfaction. | |2009 |64 Branches offering Real Time On-line banking facility. | Services Offered by IFIC Bank Ltd. Corporate Banking IFIC Bank is providing a wide range of financial services, offering specialist advice and products to corporate clients to meet diverse demands of changing market scenario. Products and services for commercial and business customers include: Working Capital Finance, Project Finance, Term Finance, Trade Finance, Lease Finance, Syndication Loan etc. Retail Banking Retail Banking is mass-banking facility for individual customers to avail banking services directly from the wide branch network all over the country. The bank provides one-stop financial services to all individual customers through its innovative products & services to cater their need. With a view to provide faster and more convenient centralized online banking services, now, all its branches have been brought under the real time online banking system. IFIC Bank offers a wide variety of deposit products, loan product & value added services to suit the customer’s banking requirements. Products and services for individual customer include: Consumer Finance, Deposit Product, Card, NRB Account, Student File, SMS Banking etc. SME Banking The growth of Small and Medium enterprises (SMEs) in terms of size and number has multiple effects on the national economy, specifically on employment generation, GDP growth, and poverty alleviation in Bangladesh. At present, Small & Medium Enterprise sector is playing a vital role in creation of new generation entrepreneurs and ‘Entrepreneurs Culture' in the country. Experience shows that borrowers of small enterprise sector prefers collateral free loan since normally they cannot offer high value security to cover the exposure. To facilitate SME sector of the country, IFIC Bank provides collateral free credit facilities to the small & medium entrepreneurs across the country whose access to traditional credit facilities are very limited. The bank is offering 15 different products for selected target groups, such as – Easy Commercial Loan, Retailers Loan, Muldhan Loan, Women Entrepreneur’s Loan (Protyasha), Transport Loan, Working Capital Loan, Project Loan, letter of Contractor's Loan, Bidder's Loan, Working Capital Loan, Project Loan, Letter of Guarantee, Letter of Credit Loan against Imported Merchandize (LIM), Loan against Trust Receipt etc. E-Banking Services Offered by IFIC Bank Ltd. Since the beginning of its journey as a commercial bank in 1983, IFIC Bank has been giving great emphasis on the adoption of modern technology. It became the pioneer in the field of automation by introducing computerized branch banking right in the same year. Subsequently, all the branches were brought under similar automated platforms with upgraded software applications to offer all the critical banking features. At present all 82 domestic branches are fully computerized under networked environment. The Bank has taken up a new project with Misys International Banking System Inc. (UK) to further upgrade its banking operation to state-of-art world class on-line banking solutions to provide faster and even more convenient centralized services to the clients. Besides, the Bank is also operating fully on-line Automated Teller Machine (ATM) services under the banner Q-Cash at a number of locations in Dhaka and Chittagong. The ATM facilities are available to the customers at Q-Cash booth. At present, there are five ATM booths of the bank. IFIC Bank Ltd. or achieving customer satisfaction and for surviving in this competitive market has concentrated on offering different types of e-banking services to its customers. Different e-banking services offered by the bank are fully online branch banking facilities, credit card, debit card, prepaid card, SMS banking facilities etc. IFIC Credit Card IFIC Bank VISA Credit Cards are issued in two types namely Gold and Classic for both local and international use. The Local Cards can be used at any ATM displaying VISA Logo for withdrawal of cash and at any POS displaying VISA Logo for purchase of goods & services within Bangladesh whereas the International Cards can be used at any ATM and POS displaying VISA logo anywhere in the world. International credit card is a dual currency card and as such one can use the same plastic at home & abroad. Classic cards are for lower limits and less costly. IFIC credit cardholders can enjoy 20 to 50 days interest free period depending on the date of transaction and the date of statement generation. Interest free period will not be allowed for cash advance. The customers can repay any amount not less than the minimum payment due within the due date and keep account regular to enjoy revolving credit facility. Customers can enjoy credit facility at lower interest rate of 2% per month. Customers can enjoy cash withdrawal facility up to 60% of the credit limit through ATMs. One can enjoy up to 100% of your credit limit through Bank POS from any branch of IFIC Bank Limited. First two supplementary cards are free. Customers can select any two from their near & dear persons and give them supplementary credit cards. They can also enjoy and share their credit limit. They can also allow specific limits for them within their credit limit. No interest will be calculated on the amount other than cash advance if the total billing amount is paid within the payment due date. In case of part payment or no payment, interest @2% per month will be applied from the date of transaction on daily product basis until the outstanding balance is fully paid. IFIC Debit Card IFIC Bank VISA Debit Card can be used at any ATM displaying VISA Logo for withdrawal of cash and at any POS displaying VISA Logo for purchase of goods & services within Bangladesh. ATM transactions are to be secured by Personal Identification Number (PIN) known by the concerned customer only. POS transactions will not require PIN. However, all the transactions are to be authorized by the system electronically. IFIC debit card is issued against any individual savings/ current account maintained with any branch of IFIC Bank Limited. The designated savings/current account can be operated by using the debit card without using cheques any time. The customers are not required to pay any charge for transactions at Merchant Point of Sale (POS) for purchasing goods and services. For cash withdrawal from ATM/Branches, a little charge may be applied. No interest will be calculated on cash withdrawal or purchases. No minimum amount due and no hassle of payment of monthly bills. IFIC Prepaid Card IFIC Bank VISA Prepaid Card can be used at any ATM displaying VISA Logo for withdrawal of cash and at any POS displaying VISA Logo for purchase of goods & services within Bangladesh. ATM transactions are to be secured by Personal Identification Number (PIN) known by the concerned customer only. POS transactions will not require PIN. However, all the transactions are to be authorized by the system electronically. Prepaid card is safer than carrying cash and more convenient than writing cheques. IFIC Prepaid card is issued by the branches instantly on filling-up the Application Form and making initial deposit. There is no need to have any account with the Bank. Prepaid card are suitable for the customers who does not maintain any account with IFIC. No interest will be calculated on cash withdrawal or purchases. No minimum amount due and no hassle of payment of monthly bills. Bank POS are available at all the branches of the Bank. Any IFIC Card Holder can withdraw cash from any branch of IFIC Bank Ltd. through Bank POS. Credit Card Holders can withdraw cash up to 100% of their credit limit. SMS Banking IFIC Bank Ltd. atered the demand of time in the era of modern banking technology through SMS Banking Service. It is indeed a fast, secure, convenient, economical and quickest way of banking. The service is available round the clock seven days a week. Customers can check their balance, account inf ormation, or even get your mini account statements through IFIC SMS Banking Service by using their mobile phones. Services available by SMS banking are as follows: Account Service ? Balance Enquiry ? Mini Statement Request (Last 5 Transactions) ? Foreign exchange Rate enquiry ? Fixed Deposit Rate enquiry ? Interest Rate enquiry ? Branch Location enquiry ? PIN Change ? Bank Product Information ? Greetings Loan Installment Notification (overdue) ? Any other Massage Card Services ? Current Outstanding Balance ? Mini Statement Request ( Last 5 Transactions) ? Minimum Payment Due ? Payment Due Date ? Payment Due Alert ? Transaction Notification Analysis The concept of e-banking includes all types of banking activities performed through electronic networks. In Bangladesh, despite huge demand e-banking is not flourishing as it should do. On the other hand, customer satisfaction is required for the banking sector to raise profitability, business growth and success. Customer perception is ve ry important to add value of the banking services and products. Through this study it is tried to find out whether the customers are appreciating the e-banking services offered to them or not; factors that satisfy them in receiving e-banking services from banks; the constraints they face regarding this matter and what they expect from the banks regarding e-banking services. For conducting the research, data from both primary and secondary sources are collected. Primary data are collected by doing depth interview of the customers with the help of a questionnaire, which is given in the Appendix I. This research study is based on the case study on IFIC Bank Ltd. The sampling unit is the Elephant Road branch of the bank and 30 regular customers of the branch are used as sample for conducting the research. To find out the reactions of the customers towards e-banking services it is tried to find out whether the customers use the e-banking services frequently; people of which occupation use the service frequently; if the customers are comfortable with using the e-banking services or not; if they are satisfied what factors make them satisfied; if the customers are facing constraints, what type of constraints they are facing; what the customers suggest to diversify away those constraints; and lastly what the customers expect more from the bank regarding e-banking services. The research is an explorative research. That is why only qualitative research has been done on the facts found through depth interview and on the basis of secondary data collected. Nature of Respondents The research is conducted based on the opinion of 30 regular customers of IFIC bank Ltd. , Elephant Road branch. Of the respondents 4 customers are businessman, 15 are service holders, 4 are students, 5 are housewives, 1 is teacher and 1 is a retired banker. Among the respondents, 11 respondents are female and the rest of them are male. Types of E-banking Services Used by the Respondents IFIC Bank mainly provides 5 kinds of e-banking services, namely, online transaction, debit card, credit card, prepaid card, SMS banking service. Other than these ATM booths and POS terminals of the bank or other ones having VISA logo provides e-banking services to the customers. Among the respondents, all of them use online transactions; 23 customers use debit cards; 10 customers use credit cards; 11 customers use SMS banking facilities. Among the customers no one uses prepaid card service. Frequency of Usage of E-banking Services by the Respondents Among the respondents, 9 customers use e-banking services highly frequently; 13 of them use with medium frequency and 8 of them use with low frequency. Businessmen and some of the service holders use e-banking services highly frequently. Some service holders and students use with medium frequency and lastly rest of the service holders and housewives, generally, use with low frequency. Factors Satisfied the Customers regarding E-banking Services IFIC Bank has started offering e-banking services to its customers only recently, which is not more than 2 years. So the customers, who do regular transactions in the bank, are very satisfied with the type of e-banking services they are receiving from the bank. All the customers of the bank can enjoy online banking facilities. Even two years before there was branch banking system. So, the customers had to go to branch to branch for their transaction making purposes. But now, with the introduction of online banking, they can do their transactions from any branch in Bangladesh without any encumbrance. Recently, all the 82 branches of the bank are providing online banking services to the customers. So, the customers are feeling it convenient to uses e-banking services. Usage of debit and credit cards has made customers life easy. People do not have to go to branches to withdraw money. Rather they can use the ATM booths of the bank or other ones showing VISA logo and withdraw money. They can also check their account balances and get mini statements of their accounts using ATM booth. Customers can use POS terminals showing VISA logo to purchase goods and services and pay bills. SMS banking also has made customers life easy. They can use their mobile phones for balance checking, getting any kind of relevant enquiries or for making relevant requests. So, the customers are feeling it is easy to use e-banking services as it saves a lot of time and cost. Some customers feel it is safe to use e-banking facilities. A lots of paperwork and manual work has been eliminated with the introduction of e-banking services, which reduces the chance of errors. According to above analysis, it is found that the factors for which customers are satisfied with e-banking service are convenience, availability of quick services, easy services and safety. Constraints Faced by the Customers Many of the respondents have said that they are facing constraints using e-banking services offered by IFIC bank. Some customers say that they cannot depend on the e-banking services, like debit cards, credit cards. They have the fear of security. They have some misconceptions regarding these services. They say that, it would be easier for others to do fraudulent activities with their accounts or cards if they use them. For this reason, some customers do not use these services although they bear the cards. Some customers have lack of awareness regarding the benefit of e-banking services. They are not aware of safety, easiness and benefit of using e-banking services. Some customers have lack of dependency on e-banking services. They rather feel it safe to do TT rather than doing online transactions. They do not understand the speediness of using e-banking services and like traditional and manual work. Some customers find it costly using e-banking services. Cost of using debit cards and credit cards are very high according to them. Again, the bank has only 5 ATM booths of its own and POS terminals are available only in the branches, which does not bear extra cost, but they are only few in number. Other organizations’ ATM booths and POS terminals cost extra charges which the customers do not like to bear. According to above discussion, it is found that the constraints the customers face are fear of security, lack of awareness, lack of dependency, and cost. Expectations and Recommendations of the Customers Regarding E-banking Services According to the customers, the expectations from the bank and recommendations for the bank are as follows: ? The bank should install more ATM booths of its own to different locations to make it available, easy, convenient and less costly for the customers to use the facilities. ? The bank should have some programs to create awareness and increase dependency about the products they offer to customers. The bank can distribute brochures, leaflets to its customers informing them about advantages of using the services. The bank can also send letters to the customers informing about the products. Some customers have requested that it would be better if the letters are sent in Bangla rather than in English. ? As some customers think that using e-banking services are costly for them, the bank may reduce the cost of these services or may give some discounts. ? The bank should concentrate more on the safety of the services. ? The bank should do more advertisement about their products. Some customers are not even aware about the SMS banking service and the prepaid card service is offered by the bank. ? The bankers should be more helpful in making the customers aware and understand about the new e-banking services offered by the bank. Conclusion Customer satisfaction is required for the banking sector to raise profitability, business growth and success. Customer perception is very important to add value of the banking services and products. E-banking is the waves of the future. It can provide speedier, faster, reliable services to the customers for which they are relatively happy. It provides enormous benefits to consumers in terms of case and cost of transactions, either through internet, telephone or other electronic delivery channels. A new technology brings with it not only the potential for success, but also a never-ending series of questions regarding its design, its value to the user, its ultimate use and acceptability. The research has been undertaken to evaluate the reaction of the customers towards the e-banking services. The research was an exploratory research. Qualitative analysis of the data collected from both primary and secondary sources are done. Primary data was collected by doing depth interview of the customers of Elephant Road branch IFIC Bank Ltd. Sample size was 30. According to the analysis the factors for which make customers satisfied with e-banking service are convenience, availability of quick services, easy services and safety. The constraints the customers face from receiving e-banking services from the bank are fear of security, lack of awareness, lack of dependency, and high cost. The customers expect that the bank should be more careful and concentrate on informing the information about the newly launched products to its customers to increase awareness and dependency on those products. The bank should make the services more convenient to the customers. And it should also take care of the security matters of the customers. ———————– Target Population: All the customers of IFIC Bank Ltd. who use e-banking services offered by the bank Sampling Unit: Elephant Road branch of IFIC Bank ltd. Sampling Frame: Name of all the customers of the branch who have used e-banking services Sample Size: 30 Sampling Technique: Convenience Sampling Exhibit 1: Sample Design