Drinking culture Essay

Alcohol marketing is a global phenomenon, in which an increasingly small number of companies spend considerable sums to establish and embed their brands in the lives and lifestyles of populations. Market research data offers insight into the size and extent of the global alcohol trade, and the magnitude of alcohol advertising expenditures. Recent examples of alcohol marketing in a variety of national contexts illustrate the techniques used by the global companies. The effects of this marketing on young people are described in reviews of recent research studies on youth exposure to alcohol marketing and the effects of that exposure, interpretive models to explain the effects of alcohol marketing on young people, whether alcohol advertising targets young people, and assessments of the effectiveness of regulatory restrictions on marketing and other countermeasures. Despite the failure of public health research to keep pace with newly developing marketing technologies, there is a growing body of evidence that alcohol marketing influences young people’s drinking behavior. Measures to reduce that impact should be considered by national governments seeking to limit the public health burden caused by harmful use of alcohol. KEY WORDS: alcohol, advertising, youth, globalization, marketing. AUTHOR ’ S NOTE : Support for development of an earlier version of this paper was provided by the World Health Organization.  © 2010 by Federal Legal Publications, Inc. 58 GLOBAL ALCOHOL MARKETING From a public health perspective, alcohol marketing matters. While there is tremendous diversity in the kinds of alcohol available throughout the world, from communally-produced traditional beverages to globalized mass consumer products, the globalized beverages play a particular role. They are, of their essence, marketed products, and as such are often the most visible manifestation of alcoholic beverages in a society. In this sense they lead the market for alcoholic beverages, providing an affordable badge of participation in western culture. As socioeconomic status rises in a developing nation, the likelihood of using these products tends to increase, along with western cultural orientation (Eide, Acuda, & Roysamb, 1998). Globalized alcoholic beverages are branded products, and benefit from the latest developments in marketing technology designed to embed the brand in the lives and minds of the target consumers (Aaker, 1996). Branding and marketing knowledge are critical to their globalization because, according to one researcher working from the standpoint of the survival of global firms, â€Å"in non-science-based industries such as alcoholic beverages .. . brands and marketing knowledge rather than technological innovation are central in explaining the growth and survival of multinational firms† (Lopes, 2003). Using this marketing knowledge, the global brands gain ubiquity through traditional media, sponsorships, and on-premise promotions, as well as â€Å"new media† such as mobile phones, podcasting, and the Internet. Both research on the health effects of this marketing activity and public health responses to mitigate those effects are hard pressed to keep up with the industry’s pace of innovation. Given this situation, this article reviews the shape and size of the global supply of marketed alcoholic beverages, describes some of the forms this marketing is taking in developed and developing societies, summarizes research on the effects of that marketing, and then outlines possible public health policy responses. 59 The global alcohol market: An overview According to Impact Databank, a leading market research firm serving the alcoholic beverage industry, premium globalized (branded) spirits account for approximately 44% of the total spirits products available around the world (Banaag, 2009). The alcohol industry funded International Center for Alcohol Policies reports that branded beer accounts for at least 38% of globally-available beer, and branded wine makes up at least 27% of the global wine supply (International Center for Alcohol Policies, 2006). Global value of the branded sector is unknown; however, sales volume of a single market—the United States—was estimated at $154. 9 billion in 2004 (Adams Beverage Group, 2005). Advertising expenditures (on broadcast, in print, and out-of-home) in that market in 2005 were $2 billion (Center on Alcohol Marketing and Youth, 2007b). According to the U. S. Federal Trade Commission, total alcohol marketing expenditures in the United States are approximately double this figure, with the remainder spent on â€Å"unmeasured† marketing activities such as sponsorships, product placements, campus promotions, and point-ofpurchase advertising (Federal Trade Commission, 2008). According to Adams Beverage Group, another industry market research firm, spirits and beer marketing account for more than 93% of measured alcohol advertising expenses in the United States. These two sectors likely dominate in the rest of the world as well, and this section will focus on the activities of global marketers in these two categories. Within the global beer and spirits industries, a small number of companies dominate. As of 2007, 44. 9% of global branded spirits were marketed by the ten largest companies, as shown in Table 1. High levels of concentration have been the rule in this segment of the industry since at least 1991 (Jernigan, 2009), through multiple waves of mergers that have increased the size of the top five companies (now with a market share of approximately 36%) relative to the rest of the market. * 60 GLOBAL ALCOHOL MARKETING TABLE 1 Ten largest global distilled spirits companies, 2006 and 2007 *Not in the top 10 in 2006. SOURCES: Impact Databank 2008a, Impact Databank, 2008c. TABLE 2 Ten largest brewers, 1979/80 and 2007 *Not in the top 10 in 1979/80. SOURCE: Cavanagh and Clairmonte, 1985; Impact Databank 2008b) 61 The majority of the market share for globally-branded beer, in contrast, has only recently concentrated in the hands of the ten largest brewers. The five leading brewers directly control more than half of the global market as estimated by Impact. As of 2008, concentrating and combining continue: InBev recently acquired Anheuser-Busch, which in turn has the majority ownership stake in Grupo Modelo but does not have management control, and which also owns 27% of Qingdao; while SABMiller merged with Molson Coors to form MillerCoors. (Market share information after these mergers is not available at this writing—Table 2 reflects the most recent data available. ) According to Advertising Age, six of these alcoholic beverage producers are among the world’s 100 largest advertisers (Wentz, 2007). As Table 3 shows, the spending of these companies is heavily concentrated in the United States and Europe. Global advertising expenditures of these six companies alone totaled more than $2 billion in 2006. Advertising Age’s figures are probably not complete, and they do not add spending of wholly- or majority-owned subsidiaries into the spending of the parent company. The publication provides data on advertising spending in 86 countries, but only provides the top 100 globally, and the top 10 spenders by country. As shown in Table 4, the leading companies or their subsidiaries are among the top 10 in 15 of the 86 countries—12 developing countries, one emerging market, and two developed nations. The shape of contemporary alcohol marketing As branded products, alcoholic beverages build their identities with a complex mix of marketing technologies. As a leading marketing theorist has written, â€Å"The presence of a brand (or even the attitudes held toward it) can serve to define a person with respect to others† so that the â€Å"brand becomes an exten- 62 TABLE 3 GLOBAL ALCOHOL MARKETING World’s largest alcoholic beverage advertisers and their advertising expenditures by region, 2006 SOURCE: Wentz, 2007. Other includes Canada, Africa and the Middle East. TABLE 3 Alcohol marketers among the ten largest advertisers in a country, by region, 2006 63 SOURCE: Wentz. 2007. The Shape of Contemporary Alcohol Marketing. 64 GLOBAL ALCOHOL MARKETING sion or an integral part of the self† (Aaker, 1996). Marketers accomplish this extension of the self by embedding brands in the lives and lifestyles of the target consumers, positioning them as an integral part of cultural and sporting events, as well as cultures, lifestyles, and even value systems (Fleming & Zwiebach, 1999; Klein, 1999). The mix of technologies employed to accomplish this include traditional advertising as well as sponsorships, sweepstakes, couponing, product placement, new product development, point-of-purchase materials and promotions, person-to-person and viral marketing, distribution and sale of branded merchandise, and the use of new and emerging technologies such as mobile phones and the Internet. The advertising spending figures above are for traditional or â€Å"measured† advertising activity alone. In this arena, alcohol marketing gains enormous exposure to the population, both that of legal drinking ages and below that age. Researchers in China have estimated that a city-dwelling young person who watches an average of 2 hours of evening television will see more than 900 alcohol ads a year (Zhang, 2004). In Australia, a Curtin University research group used advertising industry data to compare the exposure of underage and young adult drinkers to alcohol advertising on television. The researchers found that 13- to 17-year-olds were exposed to the same level of alcohol advertising as 18- to 24-year-olds (the legal drinking age in Australia is 18), and that 90% of alcohol ads, mostly for beer and premixed â€Å"alcopop† drinks, were screened when more than 25% of the viewing audience was underage (MacNamara, 2006). In Spain, researchers analyzed alcohol advertising in youthfocused written mass media from 2002 to 2006. The study found that alcohol advertising comprised 3. 8% of all magazine advertising and 8. 6% of the advertising in magazines which permitted alcohol advertising in their pages. Three out of six youth-oriented magazines identified permitted alcohol advertising (Montes-Santiago, Muniz, & Bazlomba, 2007). 65 In the United States, the Center on Alcohol Marketing and Youth at Georgetown University has also used market research databases to find, for example, that U. S. television advertising for alcohol in 2007 reached 96% of the adult population (defined in the U. S. as those 21 and over) an average of 446 times. At the same time, the advertising reached 89% of youth under the legal drinking age (i. e. , ages 12 to 20) an average of 436 times (Center on Alcohol Marketing and Youth, 2008). Magazine advertising for alcohol in 2006 reached 94% of the adult population an average of 77 times, and 90% of youth (ages 12 to 20) 89 times (Center on Alcohol Marketing and Youth, 2007a). On radio, analysis of a sample of 67,404 airings of advertisements for the 25 leading brands of alcohol found that nearly half (49%) of the advertisements were placed in programming with disproportionate numbers of listeners below the legal drinking age, while 14% of the placements violated the 30% voluntary maximum for youth audience composition set by alcohol industry trade associations (Jernigan, Ostroff, Ross, Naimi, & Brewer, 2006). Because of disparities in access to health care, youth of Hispanic and African heritage in the U. S. are at higher risk of alcohol problems if they drink (Galvan & Caetano, 2003). They are also often exposed to substantially more alcohol advertising than youth in general: In English-language national magazines in 2004, Hispanic youth saw 20% more advertising per capita and African-American youth were exposed to 34% more alcohol advertising per capita than was the average for youth in general (Center on Alcohol Marketing and Youth, 2005b; Center on Alcohol Marketing and Youth, 2006). Analysis of Nielson television ratings data from September 1998 to February 2002 confirmed that young African-American males (ages 6 to 17) were exposed to 31% more alcohol advertising on television than white youth, and that young AfricanAmerican females were exposed to 77% more television advertising for alcohol than their white peers. Furthermore, the racial differences in levels of exposure appeared to be increasing over time (Ringel, Collins, & Ellickson, 2006). 66 GLOBAL ALCOHOL MARKETING. As stated above, this â€Å"measured† marketing activity is only a fraction of what the global alcohol marketers spend each year. According to Klein (1999), in the early 1990s the amount of money spent by marketers on â€Å"unmeasured† activities increased dramatically. In 2008, the U. S. Federal Trade Commission (FTC) reported for the first time on the measured and unmeasured marketing expenditures of 12 of the largest companies, accounting for approximately 73% of sales of alcohol in the U. S (Federal Trade Commission, 2008). According to the FTC, these manufacturers spent 44% of their marketing dollars on the traditional measured media of print, radio, television and outdoor. Other significant categories included point-of-sale advertising and promotions (18. 8%), sponsorship of sporting events, sports teams or individual athletes (10. 9%), and promotional allowances to wholesalers and retailers (7. 5%). The balance between measured and unmeasured activities may vary by company as well: In its 2005 Annual Report, Diageo reported spending ? 1,023 million ($1,760 million) on marketing, far more than the $409 million reported by Advertising Age as its expenditure on advertising for 2004. Alcohol companies typically employ a mix of unmeasured activities, tailored to the brand as well as to the cultural, religious and regulatory context. For example, sponsorship is a huge area of activity. Within this category, sponsorship of sporting events is widespread. Anheuser-Busch, for instance, sponsors the FIFA World Cup, while nearly every team in World Cup competition has an alcohol sponsor. In fact, Anheuser-Busch is the second highest spender on sponsorships in the U. S. , behind PepsiCo, Inc. , spending $260-265 million in 2004 (Sparks, Dewhirst, Jette, & Schweinbenz, 2005). Beer company sponsorship of sports in China is increasing, with Anheuser-Busch sponsoring the Budweiser University League Soccer Games, amateur soccer tournaments, the 2004 Chinese Olympic Team, and the 2008 Beijing Olympic Games, while Heineken sponsors the Heineken Open Shanghai tennis tournament (Sparks et al. , 2005). 67 Such sponsorships increase the televised visibility for alcohol brands. Various researchers in the U. S. have monitored alcohol advertising during televised sporting events every five years since 1990-1992. The most recent study, covering the years 2000-2002, found an increase from 10 years earlier in the number of alcohol commercials airing during professional sports telecasts, the appearance of ads for â€Å"alcopops† only during college sporting events, as well as substantial numbers of alcohol-themed on-screen graphics such as â€Å"Bud Play of the Day† or â€Å"Busch Racing Leaders† appearing at the same time that the amount of alcohol signage within stadiums themselves has declined (Zwarun, 2006). Sports are not the only events receiving sponsorship dollars from alcohol producers. For example, the two leading breweries in Nigeria—one controlled by Guinness/Diageo, the other by Heineken—sponsor the National Annual Essay Competition, fashion shows and beauty contests on university campuses, university sporting events, musical segments of radio programs, radio call-in shows about particular alcohol brands in which correct answers win prizes, tours of foreign musical stars, and end-of-year carnivals at beaches or in parks (Jernigan & Obot, 2006). Faced with marketing restrictions, alcohol producers have also carried their alcohol brand names into other areas, such as the Carlsberg Hot Trax stores selling comic books, sports trading cards, and compact disks in Malaysia in the mid-1990s (Jernigan, 1997). Point-of-purchase is another important form of marketing. Researchers in the United States studied 3,961 retail outlets selling alcohol in 329 communities across the country. The majority of the stores (94%) had some form of point-ofpurchase alcohol marketing, while close to half (44%) had interior alcohol marketing materials placed at low heights, that is, within 3. 5 feet of the floor, where it would be more likely to be seen by children and adolescents than by adults (TerryMcElrath et al. , 2003). 68 GLOBAL ALCOHOL MARKETING Product placement in film and television is another means to increase the visibility of alcohol brands. According to Anheuser-Busch’s website, in the past 20 years it has placed its products in Wedding Crashers, Batman Begins, Seabiscuit, Spider Man, Oceans Eleven, Terminator 3, Dodgeball, Collateral, Good Will Hunting, As Good As It Gets, Jerry Maguire, Children of a Lesser God, Mission Impossible, Ace Ventura: Pet Detective, Forrest Gump, The Silence of the Lambs, Platoon, Dirty Dancing, Working Girl, Top Gun, Rain Man, Erin Brockovich, and Close Encounters of the Third Kind. These placements ripple into theaters all over the world, and then onto television, where they promote alcohol brands even in markets with restrictions on broadcast advertising of alcohol. Product placement has also become common in popular music, particularly rap and hip-hop. A recent study of alcohol mentions in rap music found that from 1979 to 1997 such references increased five-fold, with a particular increase in appearances of liquor and champagne brands after 1994. From 1994 to 1997, 71% of the rap songs that mentioned alcohol in this study’s sample named a specific alcohol brand (Herd, 2005). Content analysis of 1,000 of the most popular songs from 1996 and 1997 revealed that this phenomenon is far more pronounced in rap music (47% of rap songs in the sample studied had alcohol references) than in country-western (13%), top 40 (12%), alternative rock (10%) or heavy metal (4%) (Roberts, 1999). These mentions were not always paid placements, but some certainly were according to news reports (Campbell, 2006). In Africa, Diageo went one step further than product placement in films. In 1999, the company introduced a fictional spokesman, Michael Power, for its Guinness Stout brand. Power appeared in billboards and in a series of mini-adventures on radio and television, culminating in a starring role in a full-length feature film, Critical Assignment, which Diageo offered for free throughout the continent, spending $42. 4 million on the brand in 2003 alone. The company’s commercial director for Africa credited this campaign with increasing sales of Guinness in Africa by 10% in 2003, five times the 69 increase the brand enjoyed worldwide that year (Jernigan & Obot, 2006). Mobile phones are a new frontier for alcohol marketing. Market research firms estimate that by 2010, spending on mobile phone advertising and marketing will total â‚ ¬700 million in Europe and $1. 3 billion in the United States (Pfanner, 2006). According to Advertising Age, 81% of 18 to 21 year-olds, 68% of 16 to 17 year-olds, and 49% of 13 to 15 year-olds in the United States have cell phones, with the latter group the most likely to use their phones to participate in TV or radio polls, purchase ringtones, play games, and send text messages. Despite these statistics, Anheuser-Busch recently announced its intention to broadcast 18 ads per hour in programming from ESPN, Fox, ABC, and MSNBC distributed over MobiTV’s 30 channels of programming for cell phone users (Mullman, 2006). For years, in the United States Anheuser-Busch has run its own sports programming production unit, filming sporting events that feature the company’s logo prominently for broadcast on commercial outlets such as ESPN (Buchanan & Lev, 1989). In August 2006, the company announced the establishment of its own entertainment programming production unit to produce humorous shorts and sitcom-type programs. The company announced a new distribution channel for this programming in September 2006, â€Å"BudTV,† a new on-line entertainment network that would carry at least six types of programming, including comedy, reality, sports, and talk. According to company vice president Anthony T. Ponturo, going forward â€Å"the Internet will be equal to or better than television,† particularly in reaching the company’s target audience of males 21 to 34 (Elliott, 2006). The company announced it would double its annual spending on Internet advertising, to an estimated $90 million. Alcohol marketing on the web easily transcends national boundaries (and regulations). Research in the U. S. has found 70 GLOBAL ALCOHOL MARKETING large numbers of underage persons making in-depth visits (i. e. , visits beyond the age verification screens at the front end of many alcohol Web sites) to branded alcohol Web sites (Center on Alcohol Marketing and Youth, 2004). According to a survey of alcohol Web sites in 2003, the sites were filled with â€Å"sticky content† that may be attractive in particular to youth: video games, downloadable audio and video files and screensavers, make-your-own-music-video features, opportunities to create an online avatar and interact with others, practical joke postcards, and humorous customizable e-mail features that have the advantage of turning users into marketers, engaging in â€Å"viral† marketing that makes them inadvertent promoters of the brand to their friends by sending branded ecards and the like. Evidence of the effects of this marketing on youth When the U. S. Federal Trade Commission looked at the issue of alcohol advertising and youth in 1999, it concluded that â€Å"while many factors may influence an underage person’s drinking decisions, including among other things parents, peers and media, there is reason to believe that advertising also plays a role† (Federal Trade Commission, 1999). In 2000, a special report to the U. S. Congress on alcohol decried the lack of longitudinal studies assessing the effects of alcohol advertising on young people’s drinking behavior, and concluded that, â€Å"survey studies provide some evidence that alcohol advertising may influence drinking beliefs and behaviors among children and adolescents. This evidence, however, is far from conclusive† (U. S. Department of Health and Human Services, 2000). The intervening years, however, have witnessed an outpouring of new studies, looking particularly at alcohol advertising’s impact on youth. The most recent systematic review identified 13 longitudinal studies published in peer-reviewed literature, following up a total of more than 38,000 young people. The 71 review concluded that these studies consistently suggest that exposure to media and commercial communications about alcohol is associated with a greater likelihood that adolescents will initiate alcohol consumption, or drink more if they are already drinking at baseline (Anderson, De Bruijn, Angus, Gordon, & Hastings, 2009). Beyond documenting youth exposure to alcohol marketing (described above) and quantifying the effects of that exposure (this literature has been systematically reviewed three times in recent years—see Hastings, Anderson, Cooke, & Gordon, 2005; Smith & Foxcroft, 2007; Anderson et al. , 2009), researchers have also sought to develop interpretive models to explain the effects of alcohol marketing on young people, to assess whether alcohol advertising targets young people, and to quantify the effectiveness of regulatory restrictions on marketing and other countermeasures. The following sections will review developments since 2004 in each of these three categories. Interpretive If alcohol advertising affects young people’s decision making models regarding alcohol use, how does this occur? Early work on alcohol advertising and youth tended to rest on a simple theoretical basis: Exposure to alcohol advertising influences youth drinking behavior. However, more recent studies have pointed to the importance of alcohol advertising in shaping youth attitudes, perceptions and, particularly, expectancies about alcohol use, which then influence youth decisions to drink. Thus, in addition to measuring exposure and drinking behavior, researchers have increasingly included measures of attitudes and expectancies about alcohol use, integrating these variables into media effects models. For example, the Message Interpretation Process (MIP) model posits that children process media messages using a combination of logic and emotion or wishful thinking, and that the latter may override the former, a viewpoint consistent with the neurobiological evidence described above. In the case of alcohol advertising, the MIP model has been shown in cross-sectional research to suggest a cognitive progression from liking of alcohol ads (an 72 GLOBAL ALCOHOL MARKETING affective response associated with the desirability of portrayals in the ads and a resulting identification with characters in the ads) to positive expectancies about alcohol use, to intentions to drink or actual drinking among young people (Austin & Knaus, 2000; Austin, Pinkleton, & Fujioka, 2000). What young people appear to like in alcohol advertising is elements of humor and story, with somewhat less appreciation of music, animal characters, and people characters. Liking of these elements significantly contributed the overall likeability of specific advertisements, and then to greater likelihood of intent to purchase the product and brand advertised (Chen, Grube, Benjamin, & Keefe, 2005 ). The same study also found that young people are not interested in alcohol advertising stressing product attributes or discouraging underage drinking, and exposure to these was associated with less desire to purchase the product. Testing of the MIP model on cohorts of young people (defined as ages 15 to 20) and young adults (ages 21 to 29) provided further evidence of the validity of this model for describing youth decision-making processes. While exposure to alcohol advertising shaped attitudes and perceptions about alcohol use among both cohorts, these attitudes and perceptions predicted only the young people’s positive expectancies about alcohol and intentions to drink, but did not affect the young adults’ expectancies and alcohol consumption (Fleming, Thorson, & Atkin, 2004). While improved specification of the model of how alcohol advertising may affect young people’s drinking has in turn strengthened the statistical relationships found in this body of research, the studies thus far have continued to be hindered by their cross-sectional designs, which render conjectures about causality more difficult than longitudinal surveys. The fourth group funded by the NIAAA to study alcohol advertising and youth is focused on this question of how young people’s interpretive processes might explain the influence of alcohol advertising on them. A cross-sectional analysis of the first 73 wave of data collection from the study confirmed that adolescents progressively internalize messages about alcohol, and that these messages affect their drinking behaviors. Subjects who watched more primetime television found portrayals of alcohol in alcohol advertising more desirable, and showed greater desire to emulate the persons in the ads. These were associated with more positive expectancies about alcohol use, which then positively predicted liking beer brands as well as alcohol use (Austin, Austin, & Grube, 2006). Early analysis of longitudinal data from the work of this research group has revealed a positive relationship between liking of alcohol ads at baseline and alcohol consumption over a follow-up period of three years, among a cohort of 9- to 16year-olds from nine counties in the San Francisco Bay Area. The effects of liking the ads were mediated through expectancies about alcohol use, as well as through normative effects of the exposure to alcohol advertising. Young people who liked alcohol advertising not only believed that positive consequences of drinking were more likely, but also were more likely to believe that their peers drank more frequently, and that their peers approved more of drinking. All these beliefs interacted to produce greater likelihood of drinking, or of intention to drink within the next year. Furthermore, the causal arrows all pointed in one direction—that is, positive expectancies about alcohol use did not predict greater liking of the alcohol ads, nor did assumptions about peer drinking or peer opinions of drinking (Chen & Grube 2004). While most alcohol advertising on television is for alcohol products, alcohol companies also place substantial amounts of what are dubbed â€Å"responsibility† ads, which may discourage drunk driving or underage drinking, or otherwise encourage people to use alcohol responsibly and in moderation. According to the Center on Alcohol Marketing and Youth, from 2001 to 2003 alcohol companies placed 21,461 such ads, compared with 761,347 product ads. Youth were substantially more likely to be exposed to product than to responsibility 74 GLOBAL ALCOHOL MARKETING ads: in 2003, they were 96 times more likely to see a product ad than an industry-funded ad about underage drinking, and 43 times more likely to see a product ad than an industry ad about drinking-driving (Center on Alcohol Marketing and Youth, 2005a). A recent study attempted to assess the impact of these messages on young people, and concluded that the advertisements were examples of strategic ambiguity, defined as â€Å"the strategic and purposeful use of messages with high levels of abstraction to simultaneously accomplish multiple, and often conflicting, organizational goals† (Smith, Atkin, & Roznowski, 2006). More so with teens (age 16 to 18 in the study’s sample) than with young adults (age 19 to 22), young people drew diverse messages from the advertisements. In the context of little evidence that such advertising is effective in encouraging responsible drinking behavior (DeJong, Atkin, & Wallack 1992), the study found that young people’s evaluative responses about the brewers who placed the ads were predominantly favorable, while interpretations taken from the ads were mostly pro-drinking. Grube and Waiters (2005) recently reviewed the evidence on the content of alcohol messages in the mass media and their effects on drinking beliefs and behaviors among youth. They begin by pointing to the largely positive message environment about alcohol that exists in the mass media outside of paid advertising, including television programming, film, popular music and music videos, Internet content (as opposed to paid Internet advertising, and including alcohol company Web sites), and magazine content. The impact of this content on young people’s drinking behavior has mostly gone unexamined in the scientific research literature. Their review of the evidence regarding alcohol advertising’s effects concludes that â€Å"survey research studies on alcohol advertising and young people consistently indicate that there are small, but significant, correlations between awareness of and liking of alcohol advertising and drinking beliefs and behaviors among young people† (Grube & Waiters, 2005). 75. Whether alcohol advertising targets young people Even if there is a relationship—which longitudinal research studies suggest may be causal—between youth exposure to alcohol advertising and youth drinking behaviors, is the level of youth exposure to alcohol advertising in the mass media the result of intentional targeting, or simply incidental to the alcohol industry’s efforts to reach its principal target (usually identified in the United States as young adults age 21-34 [Theodore, 2001; Riell, 2002])? In 2003, an article appeared in the Journal of the American Medical Association alleging that magazine advertising by beer and liquor companies is associated with adolescent readership (Garfield, Chung, & Rathouz, 2003). Based on a census of the alcohol advertising in 35 major U. S.magazines appearing from 1997 to 2001, the study used market research data to estimate adolescent (ages 12 to 19), young adult (ages 20 to 24) and older adult (ages 25 and above) readers of those magazines, and found that, after adjusting for magazine characteristics, every additional million adolescent readers predicted a 60% increase in the rate of beer or distilled spirits advertising appearing in the magazine.

Analysis of Factors Influencing Attrition in It Sector Essay

With the economy of India booming at an all time high despite the impact of recession, it is an employee’s market. A large number of multiple jobs are being circulated in organizations and across industries, employees take little time to ponder and leave for greener pastures. In the event the employee feels dissatisfied with his job content, colleagues, boss or a general feeling of discontentment, disillusionment or disappointment creeps in him, considering present market conditions he need not think twice but can easily chucks for good. But obviously it is not good for the employers. Organizations spend a major buck in inducting an employee, beginning from the recruitment process to his internalization in the organization. After reaping rich benefits in the organization in terms of learning, growth, development and availing every possible opportunity in that time span he feels he should go. The HR department is left in the hanging as how to fill in the gap between the demand and supply in terms of human resources. But it helps organizations understand why at all attrition takes place. Why at all at the first place did the idea for leaving come in the mind of the employee. And if at all it came, then why the organization was not pro-active enough to have sensed his dissatisfaction. Furthermore why was it not well equipped to have stopped him from leaving? The entire cycle is vicious. Normally no one welcomes change unless it is forced to be applied. Similarly when an employee joins the organization, he really has no intension of leaving. Circumstances and conditions arise which make him think towards cutting ties. If negative conditions continue to exist then he is confirmed to leave. We all know people do crib about money, not good perks and facilities but if they are happy they stay for the sake of that happiness. People also join organizations for their need for socialization. When they form friends at their work stations; they look forward coming to office every morning. People leave because of boredom and disenchantment from everything. They find no other recluse other than leaving towards somewhere else.

Becoming influencial Essay Example | Topics and Well Written Essays - 750 words

Becoming influencial - Essay Example Honesty is a great virtue of a nurse and honest communication is essential for a nurse. I try to be honest without hurting other people's feelings because I am afraid if I am honest, then I will really hurt someone and then they won't like me. However, if I am going to be an RN, then I need to learn how take things personally. "I should pay attention to how I speak and how I act when I speak. Nonverbal signs & signals say more about us than words. I should make sure my words are reflected in my body language."(Sullivan & Decker, 2005) I need to focus on the problem, not the person. (Sullivan, 2005) I have to remember that my honesty is not personal, it's business. I should strive to improve my communication Skills (Sullivan, 2005) As a nurse, every night, I will assess / review what I have said to my peers and colleagues and note if I was honest or not. I will also ask my friends/ colleges from time to time how they view my honesty. I will start doing this now and will continue it in my nursing career. One more important virtue which I think is mandatory is Professional Positive Attitude. A positive attitude is everything. It is specially required for nursing and health care related jobs. Positive attitude "is a state of mind at which impossible is nothing. Our mind releases abundance of energy and strength in our body to achieve anything that we desire." (careercurry.com, 2007) Positive attitude increases the level of productivity for nurses and it will increase the chance of health for their patients by inspiration and positive energy. "Conveying a positive & energetic attitude sends the message of being "doer" and someone to be sought out for involvement in important issues. Being optimistic promote a can do attitude that suggests power & instills confidence in others."(Sullivan & Decker, 2005) I feel that when I am upset, then I have a hard time keeping a positive attitude. When taking care of patients a nurse needs to keep a positive attitude because patients can sense when you're upset. Thus, I will need to have some forms of exercise (such as jazzercise) which will enable me to have full control over my emotions. I will also need to see things from different perspectives so I am not easily angered. I will attend jazzercise sessions and every week I will evaluate/check what have I learned from such session and try to practice it to my day to day living. In September I joined jazzercise and have found that it decreases my stress, lower my blood pressure, and I have a more positive attitude now that I have been making myself do this every week. Now that I have started this I would like to continue this for the rest of my life. Becoming bold and/or daring also is also recommended for nurses. "Boldness is an opposite of being shy. A bold person may be willing to risk shame or rejection in social situations, and willing to bend rules of etiquette or politeness. An excessively bold person could aggressively ask for money, or persistently push a person to fulfill some request, and so on. Excessive boldness may thus be regarded as impertinence or arrogance. Outside a social context, "boldness" can also refer to a willingness to get things done, even despite risks, and is therefore broadly synonymous with bravery."(Wiki Encyclopedia, 2007) Boldness is being daring and essential for nurses. It is like the courage of taking risk in every circumstance that might not lead to a good result but still would want to pursue it. Becoming bold requires accepting risks for the

An Enquiry into The Efficiency of Celebrity Endorsement As A Marketing Dissertation

An Enquiry into The Efficiency of Celebrity Endorsement As A Marketing Communication Strategy In Modern Day Society - Dissertation Example Consumers are bombarded with advertisements featuring popular celebrities from various fields, thus exposing them to thousands of attractive images and voices – be it in print i.e. magazines, newspapers, billboards, or websites or through other audio-visual media such as radio and television. The use of celebrities for advertising has existed historically, but the trend has caught momentum and the use of celebrities for endorsing brands has increased substantially over the recent decades and is known to have a substantial and positive impact on a companies’ profitability (Erdogan, 2001). According to Shimp (2000) one out of four commercials on television on American television features a celebrity. The main aim of brands is to attract the attention of their prospective consumers and communicate information about their products to their target audience, by highlighting various attributes of their brand and associating the same with a popular celebrity. This paper aims to analyze, and understand the effectiveness of the use of celebrities for brand endorsements as a marketing strategy. ... Figure 1: Royal Cocoa Advertisement, 1884 Although the use of celebrities was relatively less as compared to that witnessed in present times (Kaikati, 1987), as celebrities in those days were vary of associating with a brand and risking their credibility in the process. The late 1970s saw a sharp rise in the trend, where celebrities began to consent to associate with certain brands (Thompson, 1978). With the expansion of film industry and a simultaneous growth in the television sector, the number of celebrities rose substantially, and the avenues for advertisements too increased manifold, as the marketers now had an access to a wider variety of celebrities to choose from. The trend was similar in most of the countries across the globe. In UK for instance, according to a report published in a magazine (Marketing, 1996) the brands which featured celebrities as their key endorsers were quick to grab national headlines and gain instant popularity. The success of use of celebrities as bra nd ambassadors could be established from the fact that the amount offered to them crossed over one billion dollars. Such an offer was made mostly to athletes, owing to their fame and popularity among the consumers. Celebrity Endorsers: Meaning, Relevance and Significance It is common knowledge now, that most of the retail advertisements today feature celebrities (White et al., 2009). The term celebrity endorser includes all popular people from various fields such as films, sports, or artists and who have achieved significant success in their respective fields (James, 2004). According to McCracken (1989) the term celebrity endorser can be defined as "any individual who enjoys

Personal statement Essay Example | Topics and Well Written Essays - 250 words

Personal statement - Essay Example I demonstrated my skills by starting a debut â€Å"high tech† home health agency where I together with my fellow practitioners infused blood products, IVIG, pain management and chemotherapy agents. I further gained knowledge and skills, two years after successful training in the Metabolic and Oncology units, in handling open heart patients and trauma patients while working in the ICU. Having demonstrated further skills in leadership and critical decision making in difficult situations, I was promoted to nurse in charge position. With 8 years into the promotion as charge nurse, I got a transfer to the Emergency medicine where I continued to naturally demonstrate my leadership qualities. I developed a comprehensive plan to enhance and facilitate the delivery of the emergency care in the ER. This plan entailed patients the highest priority and emphasizing on the customer service. This was the cause of my immediate promotion to the position of the Director of the Emergency Department. I returned to outpatient job after 12 years in the ER. Currently I am employed with a pharmacy as an infusion nurse where I handle Pulmonary Hypertension patients and those in need of enzyme replacement or IVIG infusions. I also partly work with other hospitals, offering education on therapies to nurses and physicians on the same caliber. All these time I have focused on developing further my assessment skills and ability to make critical decisions and multitasking. Personally, I regard a Nurse Practitioner as important personnel in modern healthcare services. In most cases, the practitioner assists the Managing Director to deliver care; without them, almost all patients can go unattended. In addition, they examine patients professionally and help them make good decisions concerning health. Practitioners are a necessity for the successful delivery of healthcare. I chose nurse practitioner for several reasons: firstly, I have enough time to study nursing.

Cinema & City Essay Example | Topics and Well Written Essays - 2500 words

Cinema & City - Essay Example Thus the first cinematic clip was that of a city. Cinematic images of cities shed light on the past and future of urban spaces the crises and sensations of the inhabitants of the city are projected through cinema's endless capacity to contrast the urban and corporal (Barber, 2002) Wim Wenders' 'Der Himmel 'ber Berlin /Wings of Desire' (1987) and Tom Tykwer's 'Lola rennt/Run Lola Run' (1998) are two films which showcase the city of Berlin. The former portrays the divided Berlin of the cold-war era and the latter the modern city after the reunification of Germany and its capital. The city of Berlin possesses a unique history which has always been entwined with European history. At the start of the twentieth century Berlin desired to replace Paris and London as the leading European metropolis and become the cultural capital of Europe. After Hitler's coming to power, it became the place where the destiny of millions of people was decided. This era of Berlin's history is its most shameful and old Berliner's have tried to erase this period from their city and memory both. After the Second World War the devastated city was separated into East and West Berlin and thus became a unique place where communism and capitalism were confronting each other. The icon of the division, the Berlin Wall, was erected in 1961, and was dismantled in 1989, which smoothed the way for reuniting Germany in 1990. In 1991 Berlin was named the capital of the new unified state of Germany. Nowadays Berlin has changed drastically and claims to be the city of the future and is known all over the world for its ambitious architectural projects and bold decisions in urban planning. It has re-invented itself a dozen times and continues to do. The new city of Berlin is a symbol of defeat of both communism and its Nazi past and hope and development for the future. Berlin and cinema Berlin is also famous as a city from the point of view of its various world famous portrayals in text and film, starting with 'Berlin: Symphony of a Great City'(1927) by Walter Ruttmann and 'Alexanderplatz' by Alfred D'blin (1929) to the modern 'Wings of Desire' (1987) by Wim Wenders' and 'Run Lola Run' (1998) by Tom Tykwer's. Since the 1960's artists have arranged artworks and shows in the public areas of the city which criticized the cold war order and institutions, and later on the frantic attempt by the German regime to erase the past after fall of the Berlin Wall. Portraying Berlin means looking at a city that has undergone remarkable changes over the last century in which an emperor was banished and a new republic was created then failed, being followed by a Nazi dictatorship ending up in Germany's division which has now been overcome, but, naturally left its scars. Additionally, capitals and their self-perception are of enormous importance to a nation's identity, which is especially true for Berlin, a city owning the status of a 'full-blown metropolis, unlike any other German city' (Clarke, 2006:151) Since 1945 the film industry has put singular emphasis on screening a city's development, in chronological as well as in visual terms. Inversely a city itself can project a definite cinematic class which can be experienced in daily life. James Donald, in his sociology of the city imaginary, says that cinema has educated 'audiences across

Composing a Philosophy of Eating Essay Example | Topics and Well Written Essays - 1500 words

Composing a Philosophy of Eating - Essay Example I have few friends in my school who are suffering from obesity related health problems. These friends do not have the ability to play with us because of their overweight. Because of the severe harassments facing from their friends, they like to spend their leisure time either in the library or in front of the computers. Replying to one of my question, one of these obese friends told me that it is difficult for him to take less food even though he likes to reduce his weight. In other words, it is better to take preventive measures before obesity actually strikes a person. The above fact taught me a lesson and I decided to control my eating habits in order to escape from the threat of obesity related problems. This paper describes my philosophy of eating, formulated based on the data collected from my surroundings. My current philosophy of eating can be described in few words; eat nothing unless it’s worth eating. In other words, it is better to eat something only at times when we experience hunger. There are many people who eat something even if they don’t feel hunger, in order to give company to others. I also had such habits. Foods should be consumed only at times when a person feels hungry. Our body has the ability to remind us the necessity of energy in the form of hunger. The energy or calorie received from foods taken at the time when a person feels hungry, will be utilized for some bodily functions. Therefore extra energy or calorie will never be accumulated in our body if we take normal food at the time of hunger. On the other hand when we take food during unwanted times, the body forced to store the extra calorie in the form of fats which will make the person obese. Another major point in my current eating philosophy is the avoidance of fast foods as much as possible. Fast foods are tastier than other foods and people who take fast food may consume more than what is required for the body because if this extra taste. Most of the fast foods are enriched with fat contents. Moreover fast foods are comparatively cheaper and easy to cook. And therefore people make use of it more frequently. Half boiled or half cooked foods are popular in all over the world at present. Nobody wants to spend too much time in kitchen after a busy day schedule. So, people will purchase half boiled foods from groceries or supermarkets and prepare it quickly using a microwave oven or some other cooking equipment. Frequent use of foods cooked using microwave oven could raise radiation related health problems. In short, fast foods, half boiled or half cooked foods can create lot of health problems and it is better to avoid it as much as possible. It is better to eat slowly rather than attacking the dishes in a hurry. Slow eating will help us to eat only the required amount of food, Moreover, such habits will help the digestion process. I have a friend who does have the habit of taking foods in a hurry, irrespective of whether the food is tastier o r not. His philosophy of eating is take food as quickly as possible. He faced lot of problems in the past because of this peculiar eating style. Many times, the bones of fried chicken and fishes get jammed in his throat because of his speedy eating style. Since he is taking food in a hurry, he doesn’t have any idea about the volume of food he has taken. For him taking food three or four times in a day is a routine job and he

CLOUD COMPUTING Essay Example | Topics and Well Written Essays - 1500 words

CLOUD COMPUTING - Essay Example clouds while the main services that an organization can take advantage of, with respect to cloud computing, include Software as a Service or SaaS, Platform as a Service or PaaS, and Infrastructure as a Service or IaaS (Srinivasan, 2014, p. 26-34). Cloud computing has become an important service for many businesses regardless of size. Some of the benefits that can be realized from the adoption of cloud computing include but not limited to a substantial reduction in operational expenses. The City of Pittsburgh knew about the benefits and took on the process of exploiting them. The aim of this essay is to assess the overall procedure that the City of Pittsburgh used towards cloud adoption. The structure will mostly be based on the issues that prompted the adoption of the technology and then the procedure used in choosing the vendor. Most organizations have been abandoning their own forms of storage and adopting the cloud storage due to its cost effectiveness and the ability to boost productivity as well as competitiveness. Some of the companies providing cloud solutions include Google, Netflix, Dropbox, and Microsoft (Crookes, 2012, p. 7-11). Cloud computing enables businesses to improve efficiency and offer better services (Aljabre, 2012, p. 235). However, in spite of these benefits, organizations must assess themselves to determine whether this is the best option since it comes with some risks such as the security of the data held at the cloud servers (Srinivasan, 2013, p. 49-51). Such risks may lead to uproar between the stakeholders and a reliable approach has to be used so as to convince the stakeholders and any other involved parties. The City of Pittsburgh required exploring the probable alternatives to its existing email system due to a pressure to the existing resources as well as the technology. Due t o the continuing demand for a reliable and efficient email system for the City of Pittsburgh and an inadequate supply of resources to maintain the existing

Why education is so important Research Paper Example | Topics and Well Written Essays - 2000 words

Why education is so important - Research Paper Example For others, attending a university would entail sacrifices in terms of financial support and overcoming hurdles related to educational advancement. For the individual with a vision to excel in a specific course, a college degree could be the best alternative. The objective of this essay is to proffer the rationale for the importance of education in contemporary times. The discourse seeks to provide appropriate response to the following inquiries: What exactly a good education means? How does the level of education affect the individual’s mindset and personality? Is it a fact that the more education one gets, the better it is for the individual? Is education important for everyone? Is the level of education always proportional to a person’s salary? Which ways of getting the education are the best? And what is a practical value of the education? The history of education has evolved from a curriculum comprising of a simple theoretical framework to the complex structure we have today. The development of technology opened a whole spectrum of information and educational opportunities which enhanced the capabilities of individuals. Murphy, et.al. (2002) averred that â€Å"school leaders, educational administration faculty, and policymakers are endeavoring to redefine the profession in an era of ferment, during which the legitimacy of its knowledge base and the appropriateness of programs for preparing school leaders have been thrown into question†. An education is thereby classified as good depending on an interplay of critical factors, to wit: (1) the personal traits and characteristics of the child; and (2) the educational institution’s plethora of teaching issues (quality of teachers, instructional materials, methodologies, policies and procedures, cost of tuition, location, profile of students, among others). The personality of the child is of utmost importance as it affects his or her academic performance.

Assisted technology Essay Example | Topics and Well Written Essays - 500 words

Assisted technology - Essay Example The available support rendered by the technology can be classified as falling under three categories, depending upon the extent of support required and the available financial resources2. This includes Low, Mild and High assistive technology devices. Low assistive technology devices include support gadgets that do not involve electronics and do not require a battery for operation. Such devices easy to operate and are low in cost. Mild support strategies rely on simple electronics. These devices are not heavily dependent upon technological advancements. High assistive devices are electronically sophisticated. These employ modern day techniques as image processing, signal analysis and logic design to achieve the desired functionalities. Such devices require a processing unit. As a result, these are designed to work on a computer or in conjunction with an embedded processor or a microcontroller. The cost of such devices is significantly high, as is the complexity and effort involved in development process. The task at hand is to investigate three assistive technology devices and to e

Interpersonal Relationship Essay Example for Free

Interpersonal Relationship Essay Introduction Nursing is the protection, promotion, and optimization of health and abilities, prevention of illness and injury, alleviation of suffering through the diagnosis and treatment of human response, and advocacy in the care of individuals, families, communities, and populations. American Nurses Association (ANA) An interpersonal relationship is an association between two or more people that may range from fleeting to enduring. (http://en.wikipedia.org/wiki/Interpersonal_relationship). Seemingly to Hildegard Peplau, nursing is an interpersonal process because it involves interaction between two or more individuals with a common goal. Peplau, emphasized the nurse-client relationship as the foundation of nursing practice. A therapeutic nurse-patient relationship is defined as a helping relationship thats based on mutual trust and respect, the nurturing of faith and hope, being sensitive to self and others, and assisting with the gratification of your patients physical, emotional, and spiritual needs through your knowledge and skill. This caring relationship develops when you and your patient come together in the moment, which results in harmony and healing. Effective verbal and nonverbal communication is an important part of the nurse-patient interaction, as well as providing care in a manner that enables your patient to be an equal partner in achieving wellness. (Pullen Mathias 2010) Patient-centered communication is a basic component of nursing which facilitates the development of a positive nurse-patient relationship and along with other organizational factors, results in the delivery of quality nursing care. In most instances, a nurse plays an essential role in the life of a patient. The concerns and cares they give to their patients is a big factor that uplifts each one’s spirit, therefore the goal of the nurses of Olivarez College BSN IV is to create a harmonious relationship between their patients through a well organize and meaningful interactions. The study of the relationship between patient and nurse is important to see how efficient a patient recovers, to understand his illness fully; whether there’s a chance of recovery or nothing to expect at all. Moreover, the role of the nurse is to lessen the emotional and physical pain of every patient. In dealing with these, a need for better communication strategies and methods should be applied. There may be some existing practices exercised by hospitals for their nurses and patients, but a thorough study to improve it better is an advantage. (Cruz, JA 2010) One good way of communicating with a patient is by merely listening to them. Letting them express their thoughts and anxieties may help them feel better. Furthermore, an understanding smile, a good sense of humor, a compassionate outlook and friendly gestures can alleviate their pain and anxiety. The focus of this research is the patient’s perception of an effective nurse-patient relationship. The most common method of interaction is communication. Communication is the sending of ones information to another and may be done verbally or non-verbally. Background of the Study An internal problem of nurses is common. There are so many things to adjust especially working with people that they knew for the 1st time. An interpersonal problem not only occurs with co-workers, it can also be applied with nurse-patient relationship. Everyday different types of patient are being encountered by the nurses. This study gives interest to the researchers to develop and enhanced interpersonal skills and confidence during nurse-patient interaction in the area. Mostly, nurses do not practice good communication skills because of low-self esteem to deal with the patient, resulting to the insufficient gathering of important details and information on the patient’s data. Nursing students should practice well on developing nurse-patient relationship to be an effective and a qualified nurse. Nurse has important role enhancing communication skills. Nurses play an important role in health communication. They are the ones who are always in close contact with the patients. Having effective communication skills and being able to employ them in communicating to the patients is very essential for every nurse. A nurse must be able to communicate effectively to the patient, its family and their co-workers, as well. It is important for health care personnel to understand the doubts, fears and the anxieties of the patients who come to them for treatment. It is equally important to talk in an understanding tone to those who have not voiced their fears but are obviously scared. Patience is also essential in dealing with hard headed and unbeliever patients especially when the patient is suffering and in pain during medication and they tend to refuse taking medicines anymore. Nurses feel a sense of accomplishment when they give a positive influence on their client’s health status. Learning experiences with simulation offer the nursing student an opportunity to further develop knowledge, skills and critical thinking abilities prior to practicing in the clinical setting. Role play, as well as manikin use, can enhance the nursing student’s ability to respond to a variety of patient care scenarios before actually encountering them in the clinical setting (Billings Halstead, 2005). Active learning with immediate feedback reinforces the nursing student’s performance and confidence in relating to patients and other professionals in the healthcare setting (Billings Halstead, 2005). A student nurse can easily relate to the situation of their patients in terms of their know-how and further sturdy of their illnesses. This study aims to know how patients can perceive and cooperate for the fulfilment of their rehabilitation. Cutcliffe and McKenna (2005) reported that during treatment, hospital and community patients interact more with nurses than with any other health professional in the multidisciplinary team. These authors also highlighted that nurses are continuing to expand their role into medical and even surgical practice. Nursing proves as difficult to define as ‘care’, which means that the role of the nurse and how it is differentiated from other health professions is often misunderstood. Perhaps nurses provide care and doctors provide trea tment, but (McMahon 2007) argues that neither addresses the skills and knowledge needed in modern nursing to provide good-quality care, nor explains why students take three years to train before they become qualified nurses. Since Florence Nightingale’s time, nursing could be seen as having moved from a task-oriented practice towards a therapeutic process that encompasses a wide range of nursing roles, focused on the individual patient and his or her health and well-being. (McMahon 2007) attempts to define therapeutic nursing abilities as being characterized by six skills: developing the nurse-patient relationship; caring and comforting; using evidence-based physical interventions; teaching; manipulating the environment; adopting complementary health practices. These are all the skills developed by nurses during their pre-registration education; all of them demand good communication skills for effectiveness. It appears that this argument supports the notion that ‘nursing’, in addition to the applied knowledge and attitude, is underpinned essentially by communication skills. Review of Related Literature and Studies FOREIGN The relationship between the nurse and the patient is often seen as a therapeutic relationship in itself that is based on partnership, intimacy, and reciprocity (McMahon, 2007). Its purpose is different from a social relationship in that it has a focus on the patient’s well-being as a priority, and the nurse and the patient do not need to have anything in common or even like each other (Arnold and Boggs, 2006). This relationship can last only five minutes in an accident and emergency department or primary care practice, or can continue and develop for months or years during chronic illness management. It can be intensely personal when breaking bad news, or quite superficial such as when directing a patient to the appropriate clinic room. However, all of these scenarios are nurse-patient encounters that impart to the patient something of the support and meaningfulness of their engagement with health care. They tell the patient whether they are viewed as important and valued, and whether they will be listed to or discriminated against. Since Florence Nightingale’s time, nursing could be seen as having moved from a task-oriented practice towards a therapeutic process that encompasses a wide range of nursing roles, focused on the individual patient and his or her health and well-being. (McManhon 2007) attempts to define therapeutic nursing abilities as being characterized by six skills: developing the nurse-patient relationship; caring and comforting; using evidence-based physical interventions; teaching; manipulating the environment; adopting complementary health practices. These skills are developed by nurses during their pre-registration education; all of them demand good communication skills for effectiveness. It appears that this argument supports the notion that ‘nursing’, in addition to the applied knowledge and attitude, is underpinned essentially by communication skills. For instance, reticence from the others may prompt encouraging remarks of prompt questioning timing of social responses: This requires the communicator to know when to speak, when to listen, when to interrupt or prompt, or when to take the lead or be led. Self-presentation: A good communicator has self-awareness and is able to use this self-knowledge to present themselves to the other. This gives the other feedback about who the communicator is and therefore how to interpret and respond to them. For instance, sitting in a forward-leaning position assures the other that they are being listened to. Rewardingness: This is the ability to engage the other in the communication and know how to reward communication behaviour. For instance, using nods, smiles, and eye contact encourages someone to talk about themselves. For instance, if they realize that being dressed formally is off putting to a young teenager, they can respond by removing a tie or rolling up their sleeves. Argyle breaks communication skills down into behavioural skills rather than skills of insight, understanding, and cognition. Another definition of good communication comes from (Becker et al.) who suggest that skilful communicator ‘must be able to identify the emotions or intent expressed by the other person and make sophisticated judgements about the form and timing of the appropriate response ‘. In this definition, the skilled communicator uses accurate perception and good judgement to understand the interactions and know how to make appropriate judgements. It may be that all of these factors are part of the skills of a good communicatorthat skills are made up of a good sense of reality, awareness of self and others, accurate reading of situations, good timing, and ability to use the self to facilitate meaningful and positive communication. Many of these skills can be learnt and developed through the practice and through personal development by improving self-awareness, and awareness and understanding of other people and heir cognitive and emotional states. Related Studies Patients’ Perceptions of Interpersonal Continuity of Care by Nancy Pandhi, MD and John W. Saultz, MD (2005) this is the qualitative and quantitative study of Interpersonal continuity of care is important to a majority of patients, particularly those from vulnerable groups. Patients value the relationship with their physician, their physician’s knowledge about them, and the ability to communicate their concerns. Over time, contact with a physician seems to lead to the development of trust and confidence. However, continuity of care is not valued by all patients or across all settings. Nurse-patient relationship: analysis of problems Encountered by the nursing students of Olivarez College (2010). In this study the purpose of descriptive studies is to observe, describe and document aspects of a situation as it naturally occurs and sometimes to observe as a starting point for the hypothesis be it as general or theory development. The survey analyzed the data of the faculty needs of the nursing college department, the degree on which these needs were met. Synthesis Patients’ Perceptions of Interpersonal Continuity of Care by Nancy Pandhi, MD and John W. Saultz, MD (2005) this is the qualitative and quantitative study of Interpersonal continuity of care is important to a majority of patients, particularly those from vulnerable groups. Patients value the relationship with their physician, their physician’s knowledge about them, and the ability to communicate their concerns. Over time, contact with a physician seems to lead to the development of trust and confidence. However, continuity of care is not valued by all patients or across all settings. The studies utilized results quantitative (19/36), qualitative (16/36), or mixed methods (1/36). The largest number of the studies (15/36) took place in the United States. Several took place in the United Kingdom (8/36), The Netherlands (4/36), and Canada (4/36). The remainder took place in other European countries (2/36), Australia (2/36) or both the United States and England (1/36). All recruited patients from ambulatory settings. A summary of results from these studies regarding our contextual questions is reported below. Nurse-patient relationship: analysis of problems Encountered by the nursing students of Olivarez College (2010). In this study the purpose of descriptive studies is to observe, describe and document aspects of a situation as it naturally occurs and sometimes to observe as a starting point for the hypothesis be it as general or theory development. The survey analyzed the data of the faculty needs of the nursing college department, the degree on which these needs were met. According to researchers, this study is a qualitative phenomological research to a patient-centered communication is a basic component of nursing which facilitates the development of a positive nurse-patient relationship and along with other organizational factors, results in the delivery of quality nursing care. In most instances, a nurse plays an essential role in the life of a patient. The concerns and cares they give to their patients is a big factor that uplifts each one’s spirit, therefore the goal of nurses of Olivarez College BSN IV is to create a harmonious relationship between their patients through a well-organized and meaningful interactions. Theoretical Framework This study is based on Hildegard Peplau’s Theory of Interpersonal Relations. The Theory of Interpersonal Relations is a middle-range descriptive classification theory. It was influenced by Henry Stack Sullivan, Percival Symonds, Abraham Maslow, and Neal Elger Miller. The four components of the theory are: person, which is a developing organism that tries to reduce anxiety caused by needs; environment, which consists of existing forces outside of the person, and put in the context of culture; health, which is a word symbol that implies forward movement of personality and other human processes toward creative, constructive, productive, personal, and community living. The nursing model identifies four sequential phases in the interpersonal relationship: orientation, identification, exploitation, and resolution. The orientation phase defines the problem. It starts when the nurse meets the patient, and the two are strangers. After defining the problem, the orientation phase identifies the type of service needed by the patient. The patient seeks assistance, tells the nurse what he or she needs, asks questions, and shares preconceptions and expectations based on past experiences. Essentially, the orientation phase is the nurses assessment of the patients health and situation. The identification phase includes the selection of the appropriate assistance by a professional. In this phase, the patient begins to feel as if he or she belongs, and feels capable of dealing with the problem which decreases the feeling of helplessness and hopelessness. The identification phase is the development of a nursing care plan based on the patients situation and goals. The exploitation phase uses professional assistance for problem-solving alternatives. The advantages of the professional services used are based on the needs and interests of the patients. In the exploitation phase, the patient feels like an integral part of the helping environment, and may make minor requests or use attention-getting techniques. When communicating with the patient, the nurse should use interview techniques to explore, understand, and adequately deal with the underlying problem. The nurse must also be aware of the various phases of communication since the patients independence is likely to fluctuate. The nurse should help the patient exploit all avenues of help as progress is made toward the final phase. This phase is the implementation of the nursing plan, taking actions toward meeting the goals set in the identification phase. The final phase is the resolution phase. It is the termination of the professional relationship since the patients needs have been met through the collaboration of patient and nurse. They must sever their relationship and dissolve any ties between them. This can be difficult for both if psychological dependence still exists. The patient drifts away from the nurse and breaks the bond between them. A healthier emotional balance is achieved and both become mature individuals. This is the evaluation of the nursing process. The nurse and patient evaluate the situation based on the goals set and whether or not they were met. The goal of psychodynamic nursing is to help understand ones own behavior, help others identify felt difficulties, and apply principles of human relations to the problems that come up at all experience levels. Peplau explains that nursing is therapeutic because it is a healing art, assisting a patient who is sick or in need of health care. It is also an interpersonal process because of the interaction between two or more individuals who have a common goal. The nurse and patient work together so both become mature and knowledgeable in the care process.

Standard Chartered Bank in India Analysis

Standard Chartered Bank in India Analysis Executive Summary The competition in the banking sector is increasing at a tremendous rate. MNC banks in India are doing well in India and Standard Chartered Bank being one of them wants to increase the consumer base. Therefore, it is trying to do this through retail banking. At this point of time the bank is expanding and is coming up with new branches all over India. It has recently opened a new branch there and if yes then how it can acquire new Customers. In two months time I was supposed to promote and sell their products (especially deposits) and to do a market study to know customers needs and requirements so that bank can improvise on them if possible. This time period was not enough to do an intense study. Therefore, I could collect limited data and kept my study limited to small a sample INTRODUCTION An overview of SCB Standard Chartered is the worlds leading emerging markets bank. It employs 29,000 people in over 500 offices in more than 50 countries in the Asia Pacific Region, South Asia, the Middle East, Africa, United Kingdom and the Americas. The Bank serves both Consumer and Wholesale banking customers. The Consumer Bank provides credit cards, personal loans, mortgages, deposit taking activity and wealth management services to individuals and medium sized businesses. The Wholesale Bank provides services to multinational, regional and domestic corporate and institutional clients in trade finance, cash management, custody, lending, foreign exchange, interest rate management and debt capital markets. With 150 years in the emerging markets the Bank has unmatched knowledge and understanding of its customers in its markets. Standard Chartered recognizes its responsibilities to its staff and to the communities in which it operates A brief history of Standard Chartered Standard Chartered is the worlds leading emerging markets bank headquartered in London. Its businesses however, have always been overwhelmingly international. This is summary of the main events in the history of Standard Chartered and some of the organizations with which it merged. The early years Standard Chartered is named after two banks, which merged in 1969. They were originally known as the Standard Bank of British South Africa and the Chartered Bank of India, Australia and China. Of the two banks, the Chartered Bank is the older having been founded in 1853 following the grant of a Royal Charter from Queen Victoria. The moving force behind the Chartered Bank was a Scot, James Wilson, who made his fortune in London making hats. James Wilson went on to start The Economist, still one of the worlds pre-eminent publications. Nine years later, in 1862, the Standard Bank was founded by a group of businessmen led by another Scot, John Paterson, who had immigrated to the Cape Province in South Africa and had become a successful merchant. Both banks were keen to capitalize on the huge expansion of trade between Europe, Asia and Africa and to reap the handsome profits to be made from financing that trade. The Chartered Bank opened its first branches in 1858 in Chennai and Mumbai. A branch opened in Shanghai that summer beginning Standard Chartered unbroken presence in China. The following year the Chartered Bank opened a branch in Hong Kong and an agency was opened in Singapore. In 1861 the Singapore agency was upgraded to a branch, which helped provide finance for the rapidly developing rubber and tin industries in Malaysia. In 1862 the Chartered Bank was authorized to issue bank notes in Hong Kong. Subsequently it was also authorized to issue bank notes in Singapore, a privilege it continued to exercise up until the end of the 19th Century. Over the following decades both the Standard Bank and the Chartered Bank printed bank notes in a variety of countries including China, South Africa, Zimbabwe, Malaysia and even during the siege of Marketing in South Africa. Today Standard Chartered is still one of the three banks, which prints Hong Kongs bank notes. Expansion in Africa and Asia The Standard Bank opened for business in Port Elizabeth, South Africa, in 1863. It pursued a policy of expansion and soon amalgamated with several other banks including the Commercial Bank of Port Elizabeth, the Colesberg Bank, the British Kaffarian Bank and the Fauresmith Bank. The Standard Bank was prominent in the financing and development of the diamond fields of Kimberly in 1867 and later extended its network further north to the new town of Johannesburg when gold was discovered there in 1885. Over time, half the output of the second largest goldfield in the world passed through the Standard Bank on its way to London. In 1892 the Standard Bank opened for business in Zimbabwe, and expanded into Mozambique in 1894, Botswana in 1897, Malawi in 1901, Zambia in 1906, Kenya, Zanzibar and the Democratic Republic of Congo (D.R.C.), in 1911 and Uganda in 1912. Of these new businesses, Botswana, Zanzibar and the D.R.C. proved the most difficult and the branches soon closed. A branch in Bo tswana opened again in 1934 but lasted for only a year and it was not until 1950 that the Bank re-opened for business in Botswana. In Asia the Chartered Bank expanded opening offices in, Myanmar in 1862, what is now Pakistan and Indonesia in 1863, the Philippines in 1872, Malaysia in 1875, Japan in 1880 and Thailand in 1894. Some 34 years after the Chartered Bank appointed an agent in Sri Lanka it opened a branch in 1892 to take advantage of business from the tea and rubber industries. During 1904 a branch opened in Vietnam. Both the Chartered and the Standard Bank opened offices in New York and Hamburg in the early 1900s. The Chartered Bank gaining the first branch licence to be issued to a foreign bank in New York. The impact of war Even the First World War offered opportunities for expansion when the Standard Bank set up a branch in Tanzania shortly after British troops occupied the formerly German administered Dar es Salaam in September 1916. Both banks survived the inter-war years but the world trade slump led to the closure of operations in the Canary Islands, Liberia, the Netherlands, and Equatorial Guinea. Disaster struck the Chartered Banks office in Yokohama, Japan, when an earthquake in 1923 killing a number of staff destroyed it. The Second World War particularly affected the Chartered Bank when numerous Asian countries were occupied by Japan. Standard Chartered in India The Chartered Bank opened its first overseas branch in India, at Calcutta, on 12 April 1858 Eight years later the Calcutta agent described the Banks credit locally as splendid and its business as flourishing particularly the substantial turnover in rice bills with the leading Arab firms. When the Chartered Bank first established itself in India, Calcutta was the most important Commercial city and was the centre of the jute and indigo trades. With the growth of cotton trade and the opening of the Suez Canal in 1869, Bombay took over from Calcutta as Indias main trade centre. Today the Banks branches and sub-branches in India are directed and administered from Mumbai (Bombay) with Calcutta remaining an important trading and banking centre. Standard Chartered is the largest international banking Group in India. Key businesses include Consumer Banking-Primarily credit cards, mortgages, personal loans and wealth management and wholesale Banking, where the Bank specializes in the provision of cash management trade, finance, treasury and custody services. It is the largest international banking group in India with an employee base of nearly 3500 people across the country. It also boast the largest branch network amongst all international banks in India-with 61 branches in 15 cities. With over 2.3 million retail customers, and a Credit Card base in excess of 1.3 million, it is the leaders in the consumer banking business. The wholesale bank has over 1200 corporate customers with a 33% market share in value with over 270 top transnational companies in India. INDUSTRY PROFILE What is Banking: Banking, in a traditional sense is the business of accepting deposits of money from public for the purpose of lending and investment. These deposits can have a distinct feature of being withdrawable by cheques, which no other financial institution can offer. In addition, banks also offer various other financial services which include. Issuing Demand Drafts Travellers Cheques Credit Cards Collection of Cheques, Bills of exchange Safe Deposit Lockers Issuing Letters of Credit Letters of Guarantee Sale and Purchase of Foreign Exchange Custodial Services Investment Insurance services The business of banking is highly regulated since banks deal with money offered to them by the public and ensuring the safety of this public money is one of the prime responsibilities of any bank. That is why banks are expected to be prudent in their lending and investment activities. Every bank has a Compliance Department, which is responsible to ensure that all the services offered by the bank, and the processes followed are in compliance with the local regulations and the Banks corporate policy. The major regulations and acts that govern the banking business are Banking Regulations act, 1949 Foreign Exchange Management Act, 1999 Indian Contract Act Negotiable Instruments Act, 1881 Banks lend money either for productive purposes to individuals, firms, corporates etc, or for buying house property, cars and other consumer durable and for investment purposes to individuals and others. However, banks do not finance any speculative activity. Lending is risk taking. Banking in the New Millennium Were living in a world dominated by the new idea economy, ticking to the beat of Internet time, where customers are quality conscious, time conscious and price conscious. Technology is creating new agile players making the existing ones obsolete. In this scenario, the role of internet and its impact on banking still appears to be a puzzle. Banks around the world are subject to the same radical changes -new competition, technology, deregulation, and globalization. But, eventually, the classic rules of business will reassert themselves in this virtual environment and the winners will be the first and best movers. The challenges in this millennium for the banking industry are enormous. The technology and Banking sector reforms, together are lifting the competitive intensity of the Banking business. In Banking, embedding knowledge into products can enhance value, and connecting different knowledge sources can create innovative products. The banks that are first to market with the right mix of technologies, strategies and partnerships would be the sure winners. The banking environment worldwide is undergoing massive transformation. Despite the, not so favorable, market sentiments and an apparent backlash against dotcoms, serious players in established industries like banking, remain convinced that the Internet will have a profound impact on the banking sector. Mergers and acquisitions are changing the financial landscape, and cross-border linkages are drastically altering the business characters, in general and banking operations, in particular. But drawing firm conclusions can be dangerous, as mergers and consolidation take many different forms and the impact can give mixed results. But, there is growing concern as to whether mergers deliver the expected benefits and whether cross-border deals are feasible, particularly in Europe, where cultural considerations are seen as barriers to success. In Europe, players are beginning to assert themselves, as the Nat West battle is resolved. Nat west, one of the UKs biggest banks, was forced to accept a hostile takeover bid from a smaller rival, Royal Bank of Scotland in December 2000. Earlier in November 1999, Nat west rejected a similar bid by another small bank, Bank of Scotland. This move left the scene set for Royal Bank of Scotland to submit its long anticipated bid for Nat West. It was follo wed by a flurry of bid and counter bid by the two Scottish banks as Nat west fought to keep its independence. The Royal Bank of Scotland finally won by convincing the Nat West shareholders to accept its  £25 bn offer. This outcome has set the tone for a long overdue round of consolidation in the European financial sector. Coming home, Indian banking sector has come a long way from being a sleepy business institution to a highly proactive and dynamic entity. Indian banking system is in the midst of a technological revolution. It is impacting the Indian industry in three ways firstly, by providing efficient and effective delivery Channels, secondly, it is dramatically influencing the client profile, which in turn leads to the third change i.e. the Human Resources Management. As a service sector, it calls for a change in the attitude of the personnel that would have a salutary effect on customers. Indian Banking that was operating in a highly comfortable and protected environment till the beginning of 1990s has been pushed into the choppy waters of intense competition. Mergers and acquisitions, have been heating up in the new private banking sector since the HDFC-Times Bank merger came through in November 1999. The deal shook an otherwise placid Indian banking world and generated a kind of pressure on banks to shake hands with their peers to cope up with the competition. Going forward, the premium valuations of private banks compared to public sector banks depend on their ability to maintain high earnings growth and quality of assets. The current downturn in the economic activity could result in the increase of non-performing assets for most of the banks. The winner in the market would be the one who can sustain the high growth in business without compromising the asset quality. In this millennium, banks should strive to achieve significant increases in their productivity, efficiency, and profitability. The areas of challenges that lie ahead for the Indian banking sector would be: Restructuring and Reorganizing banks setup, leaner offices, merging and forging of strategic alliances to take advantage of the geographic spread of branch network of banks, develop new products and services that would meet the emerging needs of customers and professional Management structures that would be responsive to the changes in the business environment. The book Banking In The New Millennium examines this changing landscape for the banking services. The purpose of this book is to present the current trends, the emerging scenario and the building blocks in banking sector. A brief section is also dedicated to retail banking that is growing in a big way. The book is divided into four sections analyzing the various aspects of the banking scenario. Packed with the right mix of articles on e-banking, retail banking, and mergers and acquisitions, this book is intended to serve as an executive reference book on Banking. Challenges And Future In Banking Sector Mergers in the Banking, NPA, New Technology, Electronic Cash Transfer After the nationalization of Banks, increasing adoption of technology, continuous mergers in the banking, modernizing backroom operation in the banks and competition pave the path of growth of Indian banking. By the mid-1990, the near monopoly of public sector banks faced the competition by the more customer-focused private sector entrants. This competition forced older and nationalized banks to revitalize their operations. Year 1992 was the golden period of Indian Banking system due to the scam-tainted stock market. Large proportion of household saving moved into the banking system, which recorded an annual growth of 20 percent in deposit. But along with the continuous growth and modernization, there are several challenges confronting the banking sector. The main challenges facing the banking sector are the deployment of funds in quality assets and the management of revenues and costs. The problem of NPA (non- performing assets), overall credit recovery systems still exist. There is a continuous reforms and modernization is in process. A number of recon mediations of two Narasimham committees have been implemented. Foreign Banks focusing on corporate and on the middle class consumer and providing then better service. Nationalized Banks are also attempting to get on the path of automation. Strong Banks will acquire the weaker banks. The member of foreign banks operating in India has increased significantly and their share of total assets has also increased. In the year 2001 estimated foreign bank account for 14.7 percent of the total net profit of commercial banking sector in India. In spite tangible progress and the contribution of Narasimham I and Narasimham committee reports the banking sector in India suffering from systemic and structural problem. OBJECTIVES The main objective of this project report is to make an analytical study of Standard Chartered Bank It includes History of the Bank Product Analysis Service Banks Accounts Comparison of the saving accounts with other leading Banks of India REASEARCH METHODOLOGY Data collection has been done from both sources primary as well as secondary. Primary data : by meeting various managers of the Standard Chartered Bank, Citibank, ABN-AMRO Bank, ICICI, HDFC, HSBC, GTB, UTI and IDBI. Secondary data: From newspaper, magazines, Libraries. CONCEPTUAL FRAMEWORK Investment in India Banking Banking System Introduction The Reserve Bank of India (RBI) is Indias central bank. Though public sector banks currently dominate the banking industry, numerous private and foreign banks exist. Indias government-owned banks dominate the market. Their performance has been mixed, with a few being consistently profitable. Several public sector banks are being restructured, and in some the government either already has or will reduce its ownership. Private and foreign banks The RBI has granted operating approval to a few privately owned domestic banks; of these many commenced banking business. Foreign banks operate more than 150 branches in India. The entry of foreign banks is based on reciprocity, economic and political bilateral relations. An inter-departmental committee approves applications for entry and expansion. Capital adequacy norm Foreign banks were required to achieve an 8 percent capital adequacy norm by March 1993, while Indian banks with overseas branches had until March 1995 to meet that target. All other banks had to do so by March 1996. The banking sector is to be used as a model for opening up of Indias insurance sector to private domestic and foreign participants, while keeping the national insurance companies in operation. Banking India has an extensive banking network, in both urban and rural areas. All large Indian banks are nationalized, and all Indian financial institutions are in the public sector. RBI banking The Reserve Bank of India is the central banking institution. It is the sole authority for issuing bank notes and the supervisory body for banking operations in India. It supervises and administers exchange control and banking regulations, and administers the governments monetary policy. It is also responsible for granting licenses for new bank branches. 25 foreign banks operate in India with full banking licenses. Several licenses for private banks have been approved. Despite fairly broad banking coverage nationwide, the financial system remains inaccessible to the poorest people in India. Indian banking system The banking system has three tiers. These are the scheduled commercial banks; the regional rural banks that operate in rural areas not covered by the scheduled banks; and the cooperative and special purpose rural banks. Scheduled and non-scheduled banks There are approximately 80 scheduled commercial banks, Indian and foreign; almost 200 regional rural banks; more than 350 central cooperative banks, 20 land development banks; and a number of primary agricultural credit societies. In terms of business, the public sector banks, namely the State Bank of India and the nationalized banks, dominate the banking sector. Local financing All sources of local financing are available to foreign-participation companies incorporated in India, regardless of the extent of foreign participation. Under foreign exchange regulations, foreigners and non-residents, including foreign companies, require the permission of the Reserve Bank of India to borrow from a person or company resident in India . Regulations on foreign banks Foreign banks in India are subject to the same regulations as scheduled banks. They are permitted to accept deposits and provide credit in accordance with the banking laws and RBI regulations. Currently about 25 foreign banks are licensed to operate in India. Foreign bank branches in India finance trade through their global networks. RBI restrictions The Reserve Bank of India lays down restrictions on bank lending and other activities with large companies. These restrictions, popularly known as consortium guidelines seem to have outlived their usefulness, because they hinder the availability of credit to the non-food sector and at the same time do not foster competition between banks. Indian vs foreign banks Most Indian banks are well behind foreign banks in the areas of customer funds transfer and clearing systems. They are hugely over-staffed and are unlikely to be able to compete with the new private banks that are now entering the market. While these new banks and foreign banks still face restrictions in their activities, they are well-capitalized, use modern equipment and attract high-caliber employees. Government and RBI regulations All commercial banks face stiff restrictions on the use of both their assets and liabilities. Forty percent of loans must be directed to priority sectors and the high liquidity ratio and cash reserve requirements severely limit the availability of deposits for lending.The RBI requires that domestic Indian banks make 40 percent of their loans at concessional rates to priority sectors selected by the government. These sectors consist largely of agriculture, exporters, and small businesses. Since July 1993, foreign banks have been required to make 32 percent of their loans to these priority sector. Within the target of 32 percent, two sub-targets for loans to the small scale sector (minimum of 10 percent) and exports (minimum of 12 percent) have been fixed. Foreign banks, however, are not required to open branches in rural areas, or to make loans to the agricultural sector. Commercial banks lent dols 8 billion in the Indian financial year (IFY, April-March) 1997/98, up sharply from dols 4.4 billion in the previous year. The deployment of gross loans was as follows: FINDINGS AND ANALYSIS BUSINESS Consumer Bank Consumer Banking Offers a wide range of premium banking products and services through the network of 90 branches in 19 cities across the country to cater to customers diverse financial needs. Wealth management offers a complete and comprehensive range of products to fulfill a gamut of customer investment and financial needs. These include domestic and NRI transaction accounts (with several value-add products and services like ATM and globally valid Debit Card, phone banking, extended banking, any branch banking, door step banking and investment advisory services), distribution of capital market and insurance products and dematerialization services and finances against shares. Standard Chartered also offers Priority Banking that is personalized banking for the privileged few. Standard Chartered Group is a leading credit card issuer in India and has several firsts to its credit. These include issuance of the first Global Credit Card in India, the first Photo card, the first Picture Card. Our card division under Unsecured Payments is also the first in South Asia to be accorded an ISO 9002 certification. The credit Cards and Personal Loans Offer include co-branded cards with unique value propositions and cards like Sapnay for the middle-market segment. The division offers a range of personal loan products and also a personal line of credit through products such as Smart Credit. Our Secured Loan Division offers mortgage auto loans and also unique overdraft products like ‘Mileage that offer revolving credit facility against the security of a used or new car. Standard Chartered Finance (SCF), an NBFC is our Centre for Excellence in Service and product distribution arm. Products include loans/leases for new passenger cars, used cars commercial vehicles and medical equipment. Standard Chartered Finance has an extensive network of branches in India. Wholesale Bank Corporate and Institutional Bank Standard Chartered is particularly strong in Institutional relationships and is the preferred correspondent bank for over 300 domestic and international bank, the largest such private sector network in India. The Bank focuses on service quality and all its operational units in trade, cash management, treasury and custody are ISO certified. Standard Chartered is Indias largest foreign trade finance bank and offers a full complement of trade finance products, including export credit in foreign currency, export letters of credit confirmations, merchanting trade and buyer credits. It is one of the few banks in India to offer services like channel financing forfeiting, without recourse export finance, project export and service export approvals and sponsorships. As a leading cash management supplier across emerging markets, Standard Chartered Offers Complete end to end cash management solutions for corporate and institutions. The Greenwich survey for 2001 nominated Standard Chartered the Best Cash Management Service Quality Bank in India Range of Products include vostro accounts, draft drawing, telegraphic transfers and an international payments facility that allows foreign currency payments without a separate account. Standard Chartereds custody and clearing service unit has served Foreign Institutional Investors in India with Superior client servicing, supported by Sophisticated and flexible computerized systems. It is the only custodian in India to earn the ISO 9001:2000 standards certification. Standard Chartered has received top ratings in Industrys benchmark surveys the Global custodian survey 2000 and the Global Investor Survey 2000. Global Markets Standard Charted provides a complete 24 hour coverage of the worlds foreign exchange markets. It provides a broad range of products like Exotic currencies, Derivatives, Debt Capital markets, Currency Options and Electronic trading. Standard Chartered was the first bank in India to introduce its on-Line Treasury, a browser enabled dealing system that enables real-time transactions. Standard Chartered is also recognized as a leading market for the Indian Rupee. The Banks Treasury-the No.1 Treasury in India-is amongst the most active treasuries in the country, being a market maker in local currency and money markets. While we seek to provide advice, treasury products and services to our global clients in the Indian market, we also have active relationships with some of the biggest and most diversified Indian companies and many medium sized companies. With a large specialized sales force, we cater to all foreign exchange, money market and risk management needs of our corporate clients. Treasury has an active inter bank desk which, apart from being a market maker in the Indian Rupee spot and the forwards market, actively quotes for other currencies. The money Market Desk is a leading player in the Rupee markets and in Government and corporate debt trading. The derivative Desk is a market maker in the Rupee Interest rate swap market. We also run one of Indias largest derivative books and offer products up to 7 years tenor. The corporate desk is amongst the largest among the foreign banks in India. With a presence in 5 major cities with state of the art dealing rooms and a corporate sales force of over 20 dealers, we have an unmatched reach and service capability across India. In addition to servicing currency market and investment needs of corporate clients, our corporate desk is active in advisory services pertaining to structuring and risk management. Standard Chartered Mutual Fund is one of the largest and fastest growing debt funds in the market. Standard Chartered Mutual Fund is the only fund that focuses only on the debt segment and prides itself on having developed one of the finest interest rate tracking models. Consumer Bank-Products Types of Deposits Bank Deposits B Standard Chartered Bank in India Analysis Standard Chartered Bank in India Analysis Executive Summary The competition in the banking sector is increasing at a tremendous rate. MNC banks in India are doing well in India and Standard Chartered Bank being one of them wants to increase the consumer base. Therefore, it is trying to do this through retail banking. At this point of time the bank is expanding and is coming up with new branches all over India. It has recently opened a new branch there and if yes then how it can acquire new Customers. In two months time I was supposed to promote and sell their products (especially deposits) and to do a market study to know customers needs and requirements so that bank can improvise on them if possible. This time period was not enough to do an intense study. Therefore, I could collect limited data and kept my study limited to small a sample INTRODUCTION An overview of SCB Standard Chartered is the worlds leading emerging markets bank. It employs 29,000 people in over 500 offices in more than 50 countries in the Asia Pacific Region, South Asia, the Middle East, Africa, United Kingdom and the Americas. The Bank serves both Consumer and Wholesale banking customers. The Consumer Bank provides credit cards, personal loans, mortgages, deposit taking activity and wealth management services to individuals and medium sized businesses. The Wholesale Bank provides services to multinational, regional and domestic corporate and institutional clients in trade finance, cash management, custody, lending, foreign exchange, interest rate management and debt capital markets. With 150 years in the emerging markets the Bank has unmatched knowledge and understanding of its customers in its markets. Standard Chartered recognizes its responsibilities to its staff and to the communities in which it operates A brief history of Standard Chartered Standard Chartered is the worlds leading emerging markets bank headquartered in London. Its businesses however, have always been overwhelmingly international. This is summary of the main events in the history of Standard Chartered and some of the organizations with which it merged. The early years Standard Chartered is named after two banks, which merged in 1969. They were originally known as the Standard Bank of British South Africa and the Chartered Bank of India, Australia and China. Of the two banks, the Chartered Bank is the older having been founded in 1853 following the grant of a Royal Charter from Queen Victoria. The moving force behind the Chartered Bank was a Scot, James Wilson, who made his fortune in London making hats. James Wilson went on to start The Economist, still one of the worlds pre-eminent publications. Nine years later, in 1862, the Standard Bank was founded by a group of businessmen led by another Scot, John Paterson, who had immigrated to the Cape Province in South Africa and had become a successful merchant. Both banks were keen to capitalize on the huge expansion of trade between Europe, Asia and Africa and to reap the handsome profits to be made from financing that trade. The Chartered Bank opened its first branches in 1858 in Chennai and Mumbai. A branch opened in Shanghai that summer beginning Standard Chartered unbroken presence in China. The following year the Chartered Bank opened a branch in Hong Kong and an agency was opened in Singapore. In 1861 the Singapore agency was upgraded to a branch, which helped provide finance for the rapidly developing rubber and tin industries in Malaysia. In 1862 the Chartered Bank was authorized to issue bank notes in Hong Kong. Subsequently it was also authorized to issue bank notes in Singapore, a privilege it continued to exercise up until the end of the 19th Century. Over the following decades both the Standard Bank and the Chartered Bank printed bank notes in a variety of countries including China, South Africa, Zimbabwe, Malaysia and even during the siege of Marketing in South Africa. Today Standard Chartered is still one of the three banks, which prints Hong Kongs bank notes. Expansion in Africa and Asia The Standard Bank opened for business in Port Elizabeth, South Africa, in 1863. It pursued a policy of expansion and soon amalgamated with several other banks including the Commercial Bank of Port Elizabeth, the Colesberg Bank, the British Kaffarian Bank and the Fauresmith Bank. The Standard Bank was prominent in the financing and development of the diamond fields of Kimberly in 1867 and later extended its network further north to the new town of Johannesburg when gold was discovered there in 1885. Over time, half the output of the second largest goldfield in the world passed through the Standard Bank on its way to London. In 1892 the Standard Bank opened for business in Zimbabwe, and expanded into Mozambique in 1894, Botswana in 1897, Malawi in 1901, Zambia in 1906, Kenya, Zanzibar and the Democratic Republic of Congo (D.R.C.), in 1911 and Uganda in 1912. Of these new businesses, Botswana, Zanzibar and the D.R.C. proved the most difficult and the branches soon closed. A branch in Bo tswana opened again in 1934 but lasted for only a year and it was not until 1950 that the Bank re-opened for business in Botswana. In Asia the Chartered Bank expanded opening offices in, Myanmar in 1862, what is now Pakistan and Indonesia in 1863, the Philippines in 1872, Malaysia in 1875, Japan in 1880 and Thailand in 1894. Some 34 years after the Chartered Bank appointed an agent in Sri Lanka it opened a branch in 1892 to take advantage of business from the tea and rubber industries. During 1904 a branch opened in Vietnam. Both the Chartered and the Standard Bank opened offices in New York and Hamburg in the early 1900s. The Chartered Bank gaining the first branch licence to be issued to a foreign bank in New York. The impact of war Even the First World War offered opportunities for expansion when the Standard Bank set up a branch in Tanzania shortly after British troops occupied the formerly German administered Dar es Salaam in September 1916. Both banks survived the inter-war years but the world trade slump led to the closure of operations in the Canary Islands, Liberia, the Netherlands, and Equatorial Guinea. Disaster struck the Chartered Banks office in Yokohama, Japan, when an earthquake in 1923 killing a number of staff destroyed it. The Second World War particularly affected the Chartered Bank when numerous Asian countries were occupied by Japan. Standard Chartered in India The Chartered Bank opened its first overseas branch in India, at Calcutta, on 12 April 1858 Eight years later the Calcutta agent described the Banks credit locally as splendid and its business as flourishing particularly the substantial turnover in rice bills with the leading Arab firms. When the Chartered Bank first established itself in India, Calcutta was the most important Commercial city and was the centre of the jute and indigo trades. With the growth of cotton trade and the opening of the Suez Canal in 1869, Bombay took over from Calcutta as Indias main trade centre. Today the Banks branches and sub-branches in India are directed and administered from Mumbai (Bombay) with Calcutta remaining an important trading and banking centre. Standard Chartered is the largest international banking Group in India. Key businesses include Consumer Banking-Primarily credit cards, mortgages, personal loans and wealth management and wholesale Banking, where the Bank specializes in the provision of cash management trade, finance, treasury and custody services. It is the largest international banking group in India with an employee base of nearly 3500 people across the country. It also boast the largest branch network amongst all international banks in India-with 61 branches in 15 cities. With over 2.3 million retail customers, and a Credit Card base in excess of 1.3 million, it is the leaders in the consumer banking business. The wholesale bank has over 1200 corporate customers with a 33% market share in value with over 270 top transnational companies in India. INDUSTRY PROFILE What is Banking: Banking, in a traditional sense is the business of accepting deposits of money from public for the purpose of lending and investment. These deposits can have a distinct feature of being withdrawable by cheques, which no other financial institution can offer. In addition, banks also offer various other financial services which include. Issuing Demand Drafts Travellers Cheques Credit Cards Collection of Cheques, Bills of exchange Safe Deposit Lockers Issuing Letters of Credit Letters of Guarantee Sale and Purchase of Foreign Exchange Custodial Services Investment Insurance services The business of banking is highly regulated since banks deal with money offered to them by the public and ensuring the safety of this public money is one of the prime responsibilities of any bank. That is why banks are expected to be prudent in their lending and investment activities. Every bank has a Compliance Department, which is responsible to ensure that all the services offered by the bank, and the processes followed are in compliance with the local regulations and the Banks corporate policy. The major regulations and acts that govern the banking business are Banking Regulations act, 1949 Foreign Exchange Management Act, 1999 Indian Contract Act Negotiable Instruments Act, 1881 Banks lend money either for productive purposes to individuals, firms, corporates etc, or for buying house property, cars and other consumer durable and for investment purposes to individuals and others. However, banks do not finance any speculative activity. Lending is risk taking. Banking in the New Millennium Were living in a world dominated by the new idea economy, ticking to the beat of Internet time, where customers are quality conscious, time conscious and price conscious. Technology is creating new agile players making the existing ones obsolete. In this scenario, the role of internet and its impact on banking still appears to be a puzzle. Banks around the world are subject to the same radical changes -new competition, technology, deregulation, and globalization. But, eventually, the classic rules of business will reassert themselves in this virtual environment and the winners will be the first and best movers. The challenges in this millennium for the banking industry are enormous. The technology and Banking sector reforms, together are lifting the competitive intensity of the Banking business. In Banking, embedding knowledge into products can enhance value, and connecting different knowledge sources can create innovative products. The banks that are first to market with the right mix of technologies, strategies and partnerships would be the sure winners. The banking environment worldwide is undergoing massive transformation. Despite the, not so favorable, market sentiments and an apparent backlash against dotcoms, serious players in established industries like banking, remain convinced that the Internet will have a profound impact on the banking sector. Mergers and acquisitions are changing the financial landscape, and cross-border linkages are drastically altering the business characters, in general and banking operations, in particular. But drawing firm conclusions can be dangerous, as mergers and consolidation take many different forms and the impact can give mixed results. But, there is growing concern as to whether mergers deliver the expected benefits and whether cross-border deals are feasible, particularly in Europe, where cultural considerations are seen as barriers to success. In Europe, players are beginning to assert themselves, as the Nat West battle is resolved. Nat west, one of the UKs biggest banks, was forced to accept a hostile takeover bid from a smaller rival, Royal Bank of Scotland in December 2000. Earlier in November 1999, Nat west rejected a similar bid by another small bank, Bank of Scotland. This move left the scene set for Royal Bank of Scotland to submit its long anticipated bid for Nat West. It was follo wed by a flurry of bid and counter bid by the two Scottish banks as Nat west fought to keep its independence. The Royal Bank of Scotland finally won by convincing the Nat West shareholders to accept its  £25 bn offer. This outcome has set the tone for a long overdue round of consolidation in the European financial sector. Coming home, Indian banking sector has come a long way from being a sleepy business institution to a highly proactive and dynamic entity. Indian banking system is in the midst of a technological revolution. It is impacting the Indian industry in three ways firstly, by providing efficient and effective delivery Channels, secondly, it is dramatically influencing the client profile, which in turn leads to the third change i.e. the Human Resources Management. As a service sector, it calls for a change in the attitude of the personnel that would have a salutary effect on customers. Indian Banking that was operating in a highly comfortable and protected environment till the beginning of 1990s has been pushed into the choppy waters of intense competition. Mergers and acquisitions, have been heating up in the new private banking sector since the HDFC-Times Bank merger came through in November 1999. The deal shook an otherwise placid Indian banking world and generated a kind of pressure on banks to shake hands with their peers to cope up with the competition. Going forward, the premium valuations of private banks compared to public sector banks depend on their ability to maintain high earnings growth and quality of assets. The current downturn in the economic activity could result in the increase of non-performing assets for most of the banks. The winner in the market would be the one who can sustain the high growth in business without compromising the asset quality. In this millennium, banks should strive to achieve significant increases in their productivity, efficiency, and profitability. The areas of challenges that lie ahead for the Indian banking sector would be: Restructuring and Reorganizing banks setup, leaner offices, merging and forging of strategic alliances to take advantage of the geographic spread of branch network of banks, develop new products and services that would meet the emerging needs of customers and professional Management structures that would be responsive to the changes in the business environment. The book Banking In The New Millennium examines this changing landscape for the banking services. The purpose of this book is to present the current trends, the emerging scenario and the building blocks in banking sector. A brief section is also dedicated to retail banking that is growing in a big way. The book is divided into four sections analyzing the various aspects of the banking scenario. Packed with the right mix of articles on e-banking, retail banking, and mergers and acquisitions, this book is intended to serve as an executive reference book on Banking. Challenges And Future In Banking Sector Mergers in the Banking, NPA, New Technology, Electronic Cash Transfer After the nationalization of Banks, increasing adoption of technology, continuous mergers in the banking, modernizing backroom operation in the banks and competition pave the path of growth of Indian banking. By the mid-1990, the near monopoly of public sector banks faced the competition by the more customer-focused private sector entrants. This competition forced older and nationalized banks to revitalize their operations. Year 1992 was the golden period of Indian Banking system due to the scam-tainted stock market. Large proportion of household saving moved into the banking system, which recorded an annual growth of 20 percent in deposit. But along with the continuous growth and modernization, there are several challenges confronting the banking sector. The main challenges facing the banking sector are the deployment of funds in quality assets and the management of revenues and costs. The problem of NPA (non- performing assets), overall credit recovery systems still exist. There is a continuous reforms and modernization is in process. A number of recon mediations of two Narasimham committees have been implemented. Foreign Banks focusing on corporate and on the middle class consumer and providing then better service. Nationalized Banks are also attempting to get on the path of automation. Strong Banks will acquire the weaker banks. The member of foreign banks operating in India has increased significantly and their share of total assets has also increased. In the year 2001 estimated foreign bank account for 14.7 percent of the total net profit of commercial banking sector in India. In spite tangible progress and the contribution of Narasimham I and Narasimham committee reports the banking sector in India suffering from systemic and structural problem. OBJECTIVES The main objective of this project report is to make an analytical study of Standard Chartered Bank It includes History of the Bank Product Analysis Service Banks Accounts Comparison of the saving accounts with other leading Banks of India REASEARCH METHODOLOGY Data collection has been done from both sources primary as well as secondary. Primary data : by meeting various managers of the Standard Chartered Bank, Citibank, ABN-AMRO Bank, ICICI, HDFC, HSBC, GTB, UTI and IDBI. Secondary data: From newspaper, magazines, Libraries. CONCEPTUAL FRAMEWORK Investment in India Banking Banking System Introduction The Reserve Bank of India (RBI) is Indias central bank. Though public sector banks currently dominate the banking industry, numerous private and foreign banks exist. Indias government-owned banks dominate the market. Their performance has been mixed, with a few being consistently profitable. Several public sector banks are being restructured, and in some the government either already has or will reduce its ownership. Private and foreign banks The RBI has granted operating approval to a few privately owned domestic banks; of these many commenced banking business. Foreign banks operate more than 150 branches in India. The entry of foreign banks is based on reciprocity, economic and political bilateral relations. An inter-departmental committee approves applications for entry and expansion. Capital adequacy norm Foreign banks were required to achieve an 8 percent capital adequacy norm by March 1993, while Indian banks with overseas branches had until March 1995 to meet that target. All other banks had to do so by March 1996. The banking sector is to be used as a model for opening up of Indias insurance sector to private domestic and foreign participants, while keeping the national insurance companies in operation. Banking India has an extensive banking network, in both urban and rural areas. All large Indian banks are nationalized, and all Indian financial institutions are in the public sector. RBI banking The Reserve Bank of India is the central banking institution. It is the sole authority for issuing bank notes and the supervisory body for banking operations in India. It supervises and administers exchange control and banking regulations, and administers the governments monetary policy. It is also responsible for granting licenses for new bank branches. 25 foreign banks operate in India with full banking licenses. Several licenses for private banks have been approved. Despite fairly broad banking coverage nationwide, the financial system remains inaccessible to the poorest people in India. Indian banking system The banking system has three tiers. These are the scheduled commercial banks; the regional rural banks that operate in rural areas not covered by the scheduled banks; and the cooperative and special purpose rural banks. Scheduled and non-scheduled banks There are approximately 80 scheduled commercial banks, Indian and foreign; almost 200 regional rural banks; more than 350 central cooperative banks, 20 land development banks; and a number of primary agricultural credit societies. In terms of business, the public sector banks, namely the State Bank of India and the nationalized banks, dominate the banking sector. Local financing All sources of local financing are available to foreign-participation companies incorporated in India, regardless of the extent of foreign participation. Under foreign exchange regulations, foreigners and non-residents, including foreign companies, require the permission of the Reserve Bank of India to borrow from a person or company resident in India . Regulations on foreign banks Foreign banks in India are subject to the same regulations as scheduled banks. They are permitted to accept deposits and provide credit in accordance with the banking laws and RBI regulations. Currently about 25 foreign banks are licensed to operate in India. Foreign bank branches in India finance trade through their global networks. RBI restrictions The Reserve Bank of India lays down restrictions on bank lending and other activities with large companies. These restrictions, popularly known as consortium guidelines seem to have outlived their usefulness, because they hinder the availability of credit to the non-food sector and at the same time do not foster competition between banks. Indian vs foreign banks Most Indian banks are well behind foreign banks in the areas of customer funds transfer and clearing systems. They are hugely over-staffed and are unlikely to be able to compete with the new private banks that are now entering the market. While these new banks and foreign banks still face restrictions in their activities, they are well-capitalized, use modern equipment and attract high-caliber employees. Government and RBI regulations All commercial banks face stiff restrictions on the use of both their assets and liabilities. Forty percent of loans must be directed to priority sectors and the high liquidity ratio and cash reserve requirements severely limit the availability of deposits for lending.The RBI requires that domestic Indian banks make 40 percent of their loans at concessional rates to priority sectors selected by the government. These sectors consist largely of agriculture, exporters, and small businesses. Since July 1993, foreign banks have been required to make 32 percent of their loans to these priority sector. Within the target of 32 percent, two sub-targets for loans to the small scale sector (minimum of 10 percent) and exports (minimum of 12 percent) have been fixed. Foreign banks, however, are not required to open branches in rural areas, or to make loans to the agricultural sector. Commercial banks lent dols 8 billion in the Indian financial year (IFY, April-March) 1997/98, up sharply from dols 4.4 billion in the previous year. The deployment of gross loans was as follows: FINDINGS AND ANALYSIS BUSINESS Consumer Bank Consumer Banking Offers a wide range of premium banking products and services through the network of 90 branches in 19 cities across the country to cater to customers diverse financial needs. Wealth management offers a complete and comprehensive range of products to fulfill a gamut of customer investment and financial needs. These include domestic and NRI transaction accounts (with several value-add products and services like ATM and globally valid Debit Card, phone banking, extended banking, any branch banking, door step banking and investment advisory services), distribution of capital market and insurance products and dematerialization services and finances against shares. Standard Chartered also offers Priority Banking that is personalized banking for the privileged few. Standard Chartered Group is a leading credit card issuer in India and has several firsts to its credit. These include issuance of the first Global Credit Card in India, the first Photo card, the first Picture Card. Our card division under Unsecured Payments is also the first in South Asia to be accorded an ISO 9002 certification. The credit Cards and Personal Loans Offer include co-branded cards with unique value propositions and cards like Sapnay for the middle-market segment. The division offers a range of personal loan products and also a personal line of credit through products such as Smart Credit. Our Secured Loan Division offers mortgage auto loans and also unique overdraft products like ‘Mileage that offer revolving credit facility against the security of a used or new car. Standard Chartered Finance (SCF), an NBFC is our Centre for Excellence in Service and product distribution arm. Products include loans/leases for new passenger cars, used cars commercial vehicles and medical equipment. Standard Chartered Finance has an extensive network of branches in India. Wholesale Bank Corporate and Institutional Bank Standard Chartered is particularly strong in Institutional relationships and is the preferred correspondent bank for over 300 domestic and international bank, the largest such private sector network in India. The Bank focuses on service quality and all its operational units in trade, cash management, treasury and custody are ISO certified. Standard Chartered is Indias largest foreign trade finance bank and offers a full complement of trade finance products, including export credit in foreign currency, export letters of credit confirmations, merchanting trade and buyer credits. It is one of the few banks in India to offer services like channel financing forfeiting, without recourse export finance, project export and service export approvals and sponsorships. As a leading cash management supplier across emerging markets, Standard Chartered Offers Complete end to end cash management solutions for corporate and institutions. The Greenwich survey for 2001 nominated Standard Chartered the Best Cash Management Service Quality Bank in India Range of Products include vostro accounts, draft drawing, telegraphic transfers and an international payments facility that allows foreign currency payments without a separate account. Standard Chartereds custody and clearing service unit has served Foreign Institutional Investors in India with Superior client servicing, supported by Sophisticated and flexible computerized systems. It is the only custodian in India to earn the ISO 9001:2000 standards certification. Standard Chartered has received top ratings in Industrys benchmark surveys the Global custodian survey 2000 and the Global Investor Survey 2000. Global Markets Standard Charted provides a complete 24 hour coverage of the worlds foreign exchange markets. It provides a broad range of products like Exotic currencies, Derivatives, Debt Capital markets, Currency Options and Electronic trading. Standard Chartered was the first bank in India to introduce its on-Line Treasury, a browser enabled dealing system that enables real-time transactions. Standard Chartered is also recognized as a leading market for the Indian Rupee. The Banks Treasury-the No.1 Treasury in India-is amongst the most active treasuries in the country, being a market maker in local currency and money markets. While we seek to provide advice, treasury products and services to our global clients in the Indian market, we also have active relationships with some of the biggest and most diversified Indian companies and many medium sized companies. With a large specialized sales force, we cater to all foreign exchange, money market and risk management needs of our corporate clients. Treasury has an active inter bank desk which, apart from being a market maker in the Indian Rupee spot and the forwards market, actively quotes for other currencies. The money Market Desk is a leading player in the Rupee markets and in Government and corporate debt trading. The derivative Desk is a market maker in the Rupee Interest rate swap market. We also run one of Indias largest derivative books and offer products up to 7 years tenor. The corporate desk is amongst the largest among the foreign banks in India. With a presence in 5 major cities with state of the art dealing rooms and a corporate sales force of over 20 dealers, we have an unmatched reach and service capability across India. In addition to servicing currency market and investment needs of corporate clients, our corporate desk is active in advisory services pertaining to structuring and risk management. Standard Chartered Mutual Fund is one of the largest and fastest growing debt funds in the market. Standard Chartered Mutual Fund is the only fund that focuses only on the debt segment and prides itself on having developed one of the finest interest rate tracking models. Consumer Bank-Products Types of Deposits Bank Deposits B