Wednesday, July 31, 2019

Regarding Montessorie Education

1) One of the discoveries of Dr. Montessori about the child in the first few years needs to be active to be able to develop. Explain this statement? Ans:Introduction: Dr. Maria Montessorie has really observed a children so carefully, accurately and correctly that she can authoratively talk that â€Å" she has discovered the child†. She has designed such a nice and attractive system for children. a)Purposefull activity and discipline: As per her theory if children are assigned with puposefull task, they achieve the given target. b) Introduction of life Exercise: Even how to handle kid on the regular basis are nicely designed by her with very useful technique and the above points are mentioned below in depth as follows: a)Purposefull avtivity/ Discipline: As it is rightly said that until the age of 5 years, kids learning power is 100% and from 6-8 its 80% and later on it reduces. As I have observed if kids are given purposeful task, they will be very active until they achieve the task and once the task is over, they start loosing the interest. So to make active and develop properly task should be purposefull i. e. with proper aim, which will help them to learn something (educational) and as-well-as they will learn with fun without realizing as burden, because Maria’s theory is so intellectual, that kids learn without much efforts because of materials they used, which kids enjoy and learn. So its like†Play and Fun† Concept. e. g. If I try to teach my son to count the nos 1-20 ,it would’nt attract him, he might say out of compulsion, but won’t learn properly, but same with Maria’s theory help him learn faster like by using rhymes: one two buckle my shoes, by way of counting beads, which are colourful and attractive and some other games by these technique multipurpose activity are involved like he will learn rhymes, counting colours, shapes, etc. So it is very important to choose right kind of material for right age which will help him notonly to be active but scientifically active. The assigned task should be smartly assigned as per their interest and liking or in such a attractive style that they would like to play and which will create their interest and keep them active and curiose until they achieve it, which is helpful for both and in these manner they learn happily and without much interference of adults and efforts. b)Introduction of life Excersice: As the word itself describes day –to-day activites. It’s quite difficuly to deal with kids day-to-day task, but maria has so smartly designed the concept which really makes both life easier in tackling them. As kids are designed in one schedule/ routine, they will get used to it, initially to set the schedule and follow it’s bit difficult, but slowly they get used to it and they know what they need to do. Discipline is very important for their future development but it can be done only with love, respect and patience. If you keep giving them instruction they won’t listen all and it will be boring for them. e. g. 1) If I say my kid, go to toilet, wash your hands, flush the water, wipe ur hands, etc. These are 4 instructions, out of which he will only follow the 1(go to toilet) as that he needs, remaining he won’t. But if you say go to toilet and explain him once, what all he needs to do , he will get used to it and even without saying he will follow. Thus Parents can expect these obedience, but obedience comes only with love and not with force. ) I was trying to teach my kid about vegetables from a book and I realized he did’nt find it interesting, but out of compulsion he was trying to memorise. After reading Maria theory I try to make it very lively by taking him to shopping and showing all the vegetables and explain him and you won’t believe I was shocked, before we came he knew all the vegetables, and formed a vegetable song, because he really enjoyed rather than a b ook, so what I coul’nt do in 2 days he did it in few minutes. And these episode help me realise that right kind of technique is very important for kids. Sometimes Parents always keep on cribbling, that we put lot of efforts, but still he is same,but it’s the parents who don’t understand their need properly. Conclusion: So I agree to her theory that first few years are very crucial for their better development and for good result. One should use right methods to keep them active and develop their good future. So use right theories, material and right environment for their better future which will help you to keep them active and you will achieve good result. 2)†Montessorie method is unique because it is based on her discovering the child†. Expand on this statement. Ans:Maria Montessorie had a genius of observing it and coming to conclusion that children acted in certain manner under certain circumstances, that allowed no interference from adutls and than from house of children Casa dei Bambini was set up in 1907 in san Lorenzo Rome, Italy the 1st House of children. First House of Children was cradle in which Montessorie Method was born with no particular educational motives and here are few of her discoveries as follows. 1) Children love to work Purposefully: As it’s a human nature to work on targeted task and be active until they achieve the task, task help them go in right direction and once they achieve,their confidence is boost up. So to assign a properly designed task, which they waould find interesting is very importantand so right kind od material, environment and direction is needed to give them right task (purposefully). e. g. if u want to teach ur child about animals, rather than using the book, give him some animal puzzle, soft toys or dress him like a animal, explain the feature and create a jungle,etc. In these way he will not only learn about animals, but learn about their characteristics as well as it is very realistic for them and they will enjoy it. 2) Purposefull work lead them to unite their capacities: If the kids are assigned purposeful task, which will also help you to judge their capacities, likes, interest, etc. As they are working individually you can observe their skills and help them to rectify only when they really need you and at the same time you can easily judge their skill. 3)Exercise of Practical life: In day-to-day life we unknowingly put a lot of pressure on kid by giving unwanted instruction and orders and still he won’t learn and you lose your patience. So rather than use some Arithimatic, drama, language, music, toys and lively things which will help them to learn faster and without much efforts and make your life easier. 4) Social level: It means they should be trained on social aspect as well, like sharing behaving, etc, but these comes when they see other kids doing and imitating their adults. I try to tell my kid u shall share your toys with friends and ask before taking their toys† Can I†. He will do only if I also do the same things,as they follow their adults as –well-as in the school they learn kid sharing and helping each other. e. g. on 1 table some are doing messy work, on other some are doing craft activity, the other will come and help to cut, paste, etc and these way without saying they learn and share. 5) Discipline without Enforcement: Everybody loves discipline, but it comes with love, respect and patience. So in some schools children are forced to follow some rules by hook and crook and to achieve these result teachers try to shout on the kids which create disliking about it and won’t learn,but same things by Maria theory helps a lot by way of love and explaining and giving them a time to adapt it and they would love to follow with liking. 6) Meaning of Obedience: It’s every parents and teachers dream to have obedient kids,but nobody realize that obedience comes with love and not with force. One can be onlyobedient, when they have respect for you and at the same time their inner satisfaction is fulfilled. 7) Love of Silence: â€Å"Silence speaks Louder than words†. It has more impact than words. So if kids try to misbehave or overruleyou just give them a Stern look with silent and see the result. It work’s my friend. e. g. when my son try to overrule me, I try to explain but he ignores and than I live him and keep silent for few minutes and he does what I want, as he want me to talk to him. 8) Right Environment/Behaviour: Right environment is necessary for any human being to groq and develop. In Montessorie kids get right environment with right material, trained teachers which help them to explore and gives them freedom which at home is not possible. As they get their freedom, kids of difference age group,trained adults, materials and no adult interference which help them to develop. Conclusion: As per above discoveries we can conclude that she has really observed the child in depth and can authoritatively talk that â€Å"She discovered the child†.

Tuesday, July 30, 2019

Green Banking

Introduction: Deforestation, dissertation, flood, soil erosion, siltation, sedimentation, river bank erosion, increased evaporation, Co2 emissions, rising sea-level, displacement, cyclones, salinization, arsenic contamination are most burning word in the present world. And all words are related natural disaster and climate change. Because, climate change is the most complicated issue the world is facing. Across the globe there have been continuous endeavors to measure and mitigate the risk of climate change caused by human activity.Another name of this attempt is â€Å"Sustainable Development† to us. The process of sustainable development involves all sectors in the economy – Government, NGOs, corporate, citizens and, of course, the financial sector. Our beloved mother land Bangladesh is one most affected country by this climate change. And Bangladesh banking industry is ahead one step from other financial institutions for taking endeavors to measure and mitigate the ri sk of climate change caused by human and banking activity. This activity is familiar in banking industry with title of â€Å"Green Banking†. 1. Green Banking: Green banking in general refers to the efforts of the Banking sector to keep the environment green and to minimize greenhouse effects through rationalizing their strategies, policy, decisions and activities pertaining to banking service, business and in-house operational activities. Green banking may be seen as a component of the global initiative from Banks end to save environment. Green banks or environmentally responsible banks do not only improve their own standards but also affect socially responsible behavior of other business. 1. 2 Rational of the Study:The success of a program like BBA is determined by how successfully the student of this program implemented in the practical life, which they learned from the program. Universities take many steps to make bridge between the academic knowledge and actual business w orld event of BBA students. Bangladesh banking industry is ahead one step from other financial institutions for taking endeavors to measure and mitigate the risk of climate change caused by human and banking activity. In Bangladesh there are many banks to do Green Banking among our domestic banks.The world is now become globalize so we have to sustain in the competitive world. We must take the competitive advantage that’s why we cannot avoid the environment while doing business. That’s why I feel very much interest in Green Banking. And it has another importance to me that is implementation of my educational knowledge and theoretical knowledge to the practical. 1. 3. 2 Specific Objectives: 1. 3. 1 General Objective: 1. 3 Objective of the Study: The objectives of the report are in lies with the objective of Project work.The prime goal of Project work is to provide a theoretical and practical experience to the student and to generate an opportunity to match the theoretic al concepts with real life situation. As stated above to deal with these objectives this report has been primarily divided into two parts. The objectives are: The general objective of this report is to fulfill the partial requirements of the BBA program and making me competent to cope with corporate culture through observing the general banking and remove the gap between practical world and theoretical knowledge.The specific objectives of this report is to I. To get comprehensive knowledge on overall banking industry of Bangladesh. II. To gather comprehensive knowledge on banking functions. III. To get vast knowledge about Green Banking. IV. To learn the major areas and products of Green Banking. V. To learn initiatives for promoting green banking at home and abroad. VI. To identify Green Banking policy. VII. To identify the necessity of Green Banking for Banking Industry. VIII. To identify the steps of Bangladesh Bank for Green Banking. 1. 4 Scope of the Study:We know that Banglade sh is the most preferable playground to play with people life for natural disaster. Deforestation, dissertation, flood, soil erosion, siltation, sedimentation, river bank erosion, increased evaporation, Co2 emissions, rising sea-level, displacement, cyclones, salinization, arsenic contamination are most burning word in the present world. And all these words are related natural disaster and very suitable to accommodate in our country. That’s why, Green Banking open a new era for Bangladesh banking industry to create a positive image, increase market value and contribute for developing the country.In our country Banks’ are the major of welfare driven economy and promoter of balanced growth in a country like Bangladesh which has a poverty stricken contemporary economic background. So Banks’ have a great opportunity to implement their mission, objectives very easily through green banking. By adopting a comprehensive green banking policy, installing new green banking products, considering green banking strategies at time of loan disbursement, developing program for the clients, mass people, and stakeholders to create awareness among them about the environment a bank can easily practice green banking.Bangladesh Bank the central bank of Bangladesh is already placed an order on February 27, 2011for the banking industry. Dhaka Bank Ltd. , Shahjalal Islami Bank, Mutual Trust Bank Ltd. , AB Bank Ltd. , Al-Arafah Islami Bank Ltd. , National Bank Ltd. , Uttara Bank Ltd. , Rupali Bank Ltd. , Jamuna Bank Ltd. , Brac Bank Ltd. , United Commercial Bank Ltd. , Basic Bank Ltd. , along with Islami Bank Bangladesh Ltd. , are famous for practicing green banking in Bangladesh. It is obvious that every study has some limitations. The study I have made is of great importance and require me huge work.While conducting I had to face a number of problems, which called limitations of my report. Those limiting factors that hampered my smooth workings to prepare this rep ort are as follows: * Lack of time: The time period of this study is very short. We had some weeks in my hand to complete this report, which was not enough. So I could not go in depth of the study. * Insufficient data: There is a great lacking of numerical data about green banking. Some desired information could not be collected due to confidentiality of business. *Other limitations: I have lacking of previous experience in this concern. And many practical matters have been written from my own observation that may vary from person to person. 1. 5 Methodology of the study: 1. 5. 1 Methods of data collection: Methodology is the study or theoretical analysis of particular working methods. Adoption of methodology is an important factor in performing any study. If the methodology of the study is properly adopted and the study runs properly according to the methodology, the study is supposed to be successful.The following represents the methodology of the study. * Conceptualization: Conce ptualization is the way of developing concepts about the thesis topic and its related topics and its related matter the study follows a procedural approach in order to get complete picture of concentration of different banks initiatives to green banking in worldwide and in Bangladesh. * Theoretical Framework: This report theoretical framework is focused on the insight of the current process theories and techniques in related to practicing green banking to get sustainability.It emphasizes the green banking policy, green banking strategies, green products and probable key opportunities of the products. And their inter relationship with making the environment green. 1. 5. 2 Sources of Data: * Primary Sources: The â€Å"Primary Sources† are as follows- i. Face-to-face conversation with the respective officers and staffs of the Branch. ii. Informal conversation with the investment clients. * Secondary Sources: The â€Å"Secondary Sources† of data and information are: i. Ann ual Report (Last five years) of different Banks’. ii.Periodicals published by Bangladesh Bank. iii. Various books, articles, compilations etc. regarding green banking functions, and the policies. 1. 5. 3 Data processing and analysis: Collected data and information both from primary and secondary sources were analyzed in the. Raw data from the survey have collected and edited and then classified and edited and then classified according to the objectives. I have used some techniques for the purpose of analysis. These are: * Theoretical analysis * Graphical analysis * Tabular analysis 1. 5. Preparation of the report: Following steps are associated with the preparation of this thesis: I. Representations of the assembled data through graph II. Preparation of the draft report III. Preparation of the final report 1. 5. 5 Flow Chart of the study Methodology: Conceptualization Developing Theoretical Framework Fixing Goals and Objectives Data Collection Primary Data Secondary Data Rela ted Organization Identification of the Potential Problem Data Organization Data Processing, Interpretation and Analysis Findings Recommendations Report PresentationLiterature Review: A comprehensive literature study was done to gain an exact scenario of the present status of green banking. During the literature survey relevant information was collected from a number of books journals, magazines, reports, government and non-government documents and other printed materials from the concerned financial and non-financial institutions. A very little study was conducted with the intensity of the green banking till today, although green banking is a burning issue and very crucial phenomena for the present world banking industry.Green (1989) revealed that a bank's responsibility extends to Government, customers, shareholders, staff, and the community. Companies do have ethical responsibility, but it is not protected by limited liability from the consequences of their actions. A company's re cord and the perception of its ethics affect its reputation and ensure long-term success or failure. Further, he concluded that as we face increasingly complex and conflicting issues, our commitment to ethical behavior would be tested. Hitt, Keats and DeMarie (1998) identified strategic challenges and discontinuities encountered by firms in 21st century.They analyzed that to build and maintain competitive advantage, requires a new types of organization, leaders for survival and global market leadership. It was concluded that success in 21st century organization would depend on building strategic flexibility like exercising strategic leadership, building dynamic core competencies, focusing and developing human capital, effectively using new manufacturing technologies and implementing new organization structures and culture. Therefore, the responsibility of banks in this scenario should be reviewed so that changes of 21st century can be effectively controlled.There is a strong need fo r re-inventing the role of banks as Jeucken (2001) has compared three world regions Europe (24 banks), North America (6 banks) and Oceania (Japan and Australia; 4 banks) for the period of 1998 to 2000. He analyzed and focused some important differences between regions, countries, and banks with regard to sustainable banking. The methodology was entirely based on studying environmental and annual reports of banks. He concluded that 53 percent of the banks adopt a defensive position towards the environment issue.Still, a large group of banks do not see the role, which they can play a sustainable development. Sahu and Rajasekhar (2005) addressed and analyzed certain questions regarding bank credit to the agricultural sector and impact of the closure of rural bank branches on the provision of credit to agriculture by analyzing the data on the total outstanding credit provided by the scheduled commercial banks to the agricultural sector during the period 1981 to 2000 and concluded that p rofit-oriented norms persuaded commercial banks to neglect the agricultural sector, provision of a credit subsidy reduce the supply of agricultural credit.Lyne, Nielson, and Tierney (2009) evaluated and analyzed10, 000 Multilateral Development Banks (MDBs) loans from 1980 to 2000. They found that (MDBs) dramatically increased social lending for health, education, and safety nets after 1985. Yet the great powers’ social policy preferences remained relatively static from 1980 to 2000. This contradicts the conventional view that powerful states control International Organizations (IOs). They argued that highly institutionalized IOs like MDBs require a complete model of possible member-state coalitions encompassing the preferences of all member states—not just major powers.McMichael (2009) questions the Bank's new vision, arguing that ‘new wine in old bottles’ will continue to supply affluence rather than ‘feed the world’ and sustain its agricultu res, especially at a time when land is being commandeered for luxury foods (e. g. the livestock complex, all-season vegetables and fruits) and bio-fuels, neither of which feed the poor. Ironically, the reproduction of poverty remains the Bank's main source of legitimacy. Goyal and Joshi (2011) studied a sample of 19 bank mergers (post liberalization) based on umber of branches and geographical penetration in the market. Apart from financial aspects, they observed some emerging issues like employees’ perception, branch size, customer perception, communication, change management strategies, and human resource management. These issues can be settled when a bank implements certain social and ethical policies. Weber and Remer (2011) described Social Banking as a way of value-driven banking that has a positive social and ecological impact at its heart, as well as its own economic sustainability.Most of the Social Banks came out of the crisis much stronger and bigger than they were before. In addition, none of the Social Banks had to be bailed out with public funds. This increasingly attracts the interest not only of clients searching for safe and sensible ways to deposit their funds but also of conventional banks that begin to understand the potential of a more socially oriented approach towards banking. It is a matter of awareness, which compel us to have some views from a different outlook.Bearing in mind the various functions of a bank and current scenario, now it is high time to understand the role of banks in 21st century. Therefore, this study is conducted to understand the various roles and responsibilities of banks in order to strive more effectively and efficiently against some current issues, which has already attracted the attention of the world. Following are the objectives to uncover the issues: * To understand the various roles and functions of Banks. * To know various emerging issues of 21st century in Banking Industry of India.The synopsis of my report literature review is Green Banking; the focus is on satisfying existing needs in the real economy and the society; also taking into account their social, cultural, ecological, and economic sustainability. In the repercussion of the crisis, many people felt that green banking is more caring for the overall progress of society than traditional and mainstream banking. It is assumed that green banking may provide important lessons for the banking and financial sector to avoid further crises in the future. 2. 1 Nature of the Research: Research is the systematic investigation into existing or new knowledge.It is used to establish or confirm facts, reaffirm the results of previous work, solve new or existing problems, support theorems, or develop new theories. The goal of the research process is to produce new knowledge or deepen understanding of a topic or issue. This process takes three main forms: I. Exploratory Research: An exploratory study is undertaken when not much is kno wn about the situation at hand or no information is available on how similar problem or research issues have been solved in the past. II. Constructive Research: Constructive research tests theories and proposes solutions to a problem or question.III. Empirical research: Empirical research tests the feasibility of a solution using empirical evidence. The literature review of this report is saying us a very little study was conducted with the intensity of the green banking till today, although green banking is a burning issue and very crucial phenomena for the present world banking industry. So, definitely my this report research type is exploratory research because, An exploratory study is undertaken when not much is known about the situation at hand or no information is available on how similar problem or research issues have been solved in the past.Green Banking: Global warming, which is one of the most burning & discussed issues, has the worst impact on the climate of the planet a s a whole. The rapid change in climate will be too great to be adapted by the eco-systems, since the change have already made direct impact on biodiversity, agriculture, forestry, dry land, water resources and human health. As such, issue of global warming calls for a global response. Due to unusual weather pattern, rising greenhouse gas, declining air quality etc. ociety demands that business also take responsibility in safeguarding the planet. The key areas of environmental degradation cover air pollution, water pollution, surface water scarcity, encroachment of rivers, improper disposal of industrial, medical and house-hold waste, deforestation, loss of open space, loss of biodiversity and many other issues. In response to increasing awareness over climate change, environmental degradation, urgent measures for sustainable development have been addressed by some of the stake holders all over the world.Banking system hold a unique position in an economy that can affect production, business and other economic activities through their procedure for financing activities which would in turn contribute to protect environment/climate from pollution. Moreover, efficiency in energy use, water consumption and waste reduction may significantly contribute for operating cost of many of the large banks of the country.Projects/Businesses those include waste prevention and resource efficiency systems in a wide range of sectors including community, commercial and business organizations – such as shopping centers, regional airports, hospitals, construction, farms, a university, public organizations, and educational organizations are receiving enhanced attention these days. Green finance as a part of Green Banking makes great contribution to the transition to resource-efficient and low carbon industries i. e. Green industry and green economy in general.Green banking is a component of the global initiative by a group of stakeholders to save the climate/ environment. Gree n banks or environmentally responsible banks do not only improve their own standards but also affect socially responsible behavior of other businesses. 3. 2 Why Green Banking: 3. 1 What is Green Banking: * * Green Bank means * An ethical bank * A socially responsible bank * A sustainable bank. * Green Banking is to support: * Innovative green products * Activities those are not hazardous to environment and help conserve environment. To help safeguard the planet from * unusual weather pattern; * rising greenhouse gas; * Declining air quality. * For ensuring green economic growth: economic growth which is sustainable. * To meet one of the Millennium Development Goals: Ensure Environmental Sustainability. 3. 3 Definitions of Green Banking: 3. 3. 2 The Broad focus: 3. 3. 1 In general focus: Green Banking is like a normal bank' which considers the entire social and environmental factors; it is also called as an ethical bank' Ethical banks have started with the aim of protecting the envir onment.Green banking refers to the efforts of the Banking sector to keep the environment green and to minimize greenhouse effects through rationalizing their strategies, policy, decisions and activities pertaining to banking service, business and in-house operational activities. Green banking may be seen as a component of the global initiative from Banks end to save environment. Green banks or environmentally responsible banks do not only improve their own standards but also affect socially responsible behavior of other business. Green banking can benefit the environment either by reducing the carbon footprint of consumers or banks.Either works, some with paper. Either a bank o (a consumer can conserve paper and benefit the environment. Ideally, a green banking initiative will involve both. Online banking is an example of this. When a bank’s customers go online, the environmental benefits work both ways. Green banking means combining operational improvements and technology, a nd changing client habits. 3. 3. 3 The definitions derived from specialists: * Sherman stresses (Key Differentiator of Green Choice Bank, Chicago): â€Å"With green banking, what sets leaders apart from the rest is†¦ ow you invest back in the community, so we are trying to develop loan products and deposit products that reward good environmental choices * Todd Larson (Community investing guide, green America): â€Å"a green bank is a logical extension of -socially responsible investing. † * Sherman Stresses, (Key Differentiator of Green Choice Bank, Chicago): â€Å"With green banking, what sets leaders apart from the rest are†¦ how you invest back in the community, so we’re trying to develop loan products and deposit products that reward good environmental choices†. Todd Larson (Community investing guide, green America): â€Å"A green bank is a logical extension of socially responsible investing. † * Justin Pritchard (columnist, about com): â⠂¬Å"Green Bank is a bank focusing on sustainability. It is bank like others but they are to claim the â€Å"green banking† niche, and they hope to excel by serving companies and individuals interested in green business. For the most part, the bank will work with businesses that find ways to do more and use less†. * Pravakar Shahoo (Author, Green Banking in India): The banks should go green and play a pro-active role to take environmental and ecological aspects as part of their lending principle, which would force industries to go for mandated investment for environmental management, use of appropriate technologies and management systems†. * Geoff Green wade, President and CEO, Green Bank (Houston): â€Å"Green banking means combining operational improvements and technology, and changing client habits†. * Stacy Ayiers (Author, Green banking-a new resource bank): â€Å"Specific banks designed to aid environmentally-conscious businesses and consumers with bet ter incentives and loan rates.Despite the changes in our economic system in business caused by the housing market, these banks are willing to work with companies who want to empower sustainability†. 3. 4 Conceptual derivation of Green Banking: : Americans are starting to turn to eco-friendly banking as a way to help reduce the carbon footprint from their normal banking activities. This movement away from branch and paper banking is being led by green banks that believe in social responsibility. The discussion around environmental management in financial institutions has until now largely taken place in industrialized countries.However, in view of the financial globalization and ever increasing environ-mental regulations, many financial institutions operating in developing and emerging countries are pressed to better manage risks arising from environmental liabilities. Besides credit and market risks, damage to an institution’s reputation often represents an important dr iver for international banks. Domestic players – including microfinance institutions may have different incentives, among others to contribute to local development, but they play an equally important role.Empirical research since 1990 concluded that banks were not interested in their own environmental situation or that of their clients. We are witnessing certain changes and growing awareness in the field of financial sector like; environmental investment funds, loans, green banking, global banking, rural banking, agri-banking, social banking and ethical banking. * Social Banking: In Social Banking, the focus is on satisfying existing needs in the real economy and the society; also taking into account their social, cultural, ecological, and economic sustainability.In the repercussion of the crisis, many people felt that social banking is more caring for the overall progress of society than traditional and mainstream banking. It is assumed that social banking may provide import ant lessons for the banking and financial sector to avoid further crises in the future. According to Institute for Social Banking, â€Å"Social Banking describes the provision of banking and financial services that consequently pursue, as their main objective, a positive contribution to the potential of all human beings to develop, today and in the future†.Benedikter (2011) defines Social Banks as â€Å"banks with a conscience†. They focus on investing in community, providing opportunities for the disadvantaged, and supporting social, environmental, and ethical agendas. Social banks try to invest their money only in endeavors that promote the greater good of society, instead of those, which generate private profit just for a few. He has also explained the main difference between mainstream banks and social banks that mainstream banks are in most cases focused solely on the principle of profit maximization whereas, social banking implements the triple principle of profi t-people-planet.Social banks care about making a profit, but equally for promoting human and environmental well-being. It is this triple principle that they follow when they decide to whom to lend money, and for what purpose. It means that social banks consider social and economic â€Å"sustainability† when making financial decisions. â€Å"Sustainable† investments and lending practices are ones that produce a better quality of life for the greatest possible amount of people, and whose effects endure over time and continue to produce a multiplicity of positive effects long after the initial investment.Now-a-days, social banks are becoming cultural power as social banking includes the concepts of humane and humanist in financial activities. * Ethical Banking: The Cooperative Bank (UK) offers its customers home energy rating on purchases of consumer durables. The purpose is to enable them to better understand how energy efficient a property is and how to make improvement s. Moreover, bank's mortgages include carbon-offset features. Every year that a customer holds a mortgage, the bank offsets a fifth of the carbon dioxide emissions arising from a typical household's energy consumption.Following customer consultation in 2003, offset money were used for reforestation in Uganda, a Bangladesh project that trains local people to build energy efficient stoves and a Bulgaria project supporting micro-hydro electricity generation. Citizens Bank (Canada) allows its customers to choose between a variety of VISA cards that benefit Oxfam Canada, Amnesty International or their philanthropic Shared Interest program by donating $0. 10 to not-for-profit initiatives worldwide every time their VISA card is used. This enabled Citizens Bank to donate thousands of dollars to Doctors.These are only a few of the wide range of services available at different ethical banks. * Agri-Banking Alston (2004) argued that international and national events like globalization, interna tional policy manipulations such as the US farm bill, and national policy, are having a major impact on agricultural production in Australia. It is more likely that these issues are acting to continue and exacerbate a trend towards reduced viability for farm families evident in economic and social trends since at least the 1950s.It was further argued that social aspects of agricultural production in Australia noting social trends and drawing attention to the changing social relations of agriculture. It was concluded that there is dominance of farm families, the role of corporate agriculture, ethnic diversity, the importance of women, and the practice of farm transfers. Punjab National Bank’s (PNB) Corporate Social Responsibility Report (2010) shows that agriculture and farmer’s related initiatives are taken by PNB increased lending to agriculture, weaker sectors and women; which results in impacting their lives through income generation.Moreover, the report shows that the Bank has established two trusts viz. , PNB Farmers Welfare Trust and PNB Centenary Rural Development Trust. These trusts are involved in running training centers which imparts training in farming and also other non-farm activities. PNB Farmers’ Welfare Trust was established in the year 2000 for welfare of the farmers, women and youth in rural areas. Under the aegis of the Trust, 8 Farmers’ Training Centers (FTCs) have been made operational at villages.Apart from this Mobile Van is being used at FTC Sacha Khera for providing off-site training on improved package & practices of agricultural crops & allied activities, soil testing and Jatropha cultivation. In addition, the van is acting as an information kiosk. * Rural Banking: Ramachandran and Swaminathan (2002) examined the effect of financial sector reform on rural banking and rural credit transactions in India. They reviewed the trends in selected indicators of rural banking at the national level over the last 30 years.Moreover, they used longitudinal data for a village in Tamil Nadu to examine changes in patterns of indebtedness and credit transactions among landless labor households. They concluded that the exploitation of landless labor households in the credit market has intensified with the introduction of financial reforms and lastly, the policy was envisaged as an alternative to the formal credit sector in the countryside. Burgess and Pande (2005) evaluated the impact of a large state-led bank branch expansion program in India on rural poverty between 1977 and 1990.They used deviations and regression analysis and found that branch expansion into rural unbanked locations in India significantly reduced rural poverty. * Global Banking: Miller, S. R. and Parkhe, A. (2002) conducted empirical test of the liability of foreignness in the global banking industry, using Fitch–IBCA Bank Scope data for the period 1989–96 and their findings strongly support the liability of foreignn ess hypothesis. Further, the data showed some evidence that the X-efficiency of a foreign-owned bank is strongly influenced by the competitiveness of its home country and the host country in which it operates.Moreover, it was found that in some environments U. S. -owned banks is more X-efficient than other foreign-owned banks in some environments, but less X-efficient in others. Mathur, N. D. (2009) has identified a visible trend that growing integration of economies and the markets around the world is making global banking a reality. The use of Internet banking has widened frontiers of Global Banking and it is now possible to market financial products and services on a global basis. Like other industries, banking has become more global. Banking stands out, however, in its legal form and reliance on cross border positions.Banks run special risks in lending abroad. McCauley, McGuire and Peter (2010) have shown that some banking systems are international in their organization while ot hers are multinational, and that the multinational model can be operated with a greater or lesser degree of centralization. While much work remains to be done in assessing the performance of various banking models during the crisis, it does appear that local assets proved more stable under stress. Cross-border claims and liabilities proved less stable. These findings hold even if account is taken of the series break represented by US securities irms becoming reporting banks, exchange rate changes and distortions from mergers and acquisitions, some of which resulted from the crisis itself. * Other Issues: Banks, usually take help of various Information Technology (IT) based channels to provide their banking and other services. For this purpose, they are in need to provide continuous and frequent information about their services. We can use IT as a strong means to fulfill our objectives social and ethical banking. The IT based banking services are as follows: Mobile Banking is a new a nd emerging concept.Large numbers of people are still not aware about usage of mobile banking. In this, one's mobile phone is used to conduct banking transactions. The popularity of Online Banking is significantly increasing day by day. It is a term used for performing various transactions, payments, and account statements etc. with the help of Internet. Relationship Managers, mostly for private banking or business banking, often visit customers at their homes or businesses. Video banking is a term used for performing banking transactions or professional banking consultations via a remote video and audio connection.Video banking can be performed via purpose built banking transaction machines (similar to an Automated teller machine), or via a Video conference enabled bank branch clarification. * 3. 4. 1 Flow Chart of conceptual derivation of Green Banking: Green Banking: There are some major concerns about environmental issues. Therefore, organization need to pay attention to their o utputs whether they are violating environmental issues or not. At Triodos Bank, it is believed that profit should not be earned at the expense of the world's most pressing environmental problems.That is why they finance organizations from organic food and farming businesses and pioneering renewable energy enterprises, to recycling companies and nature conservation projects. Citizens Bank of Canada has lowered its interest rate on loans for carbon emission cars. These kinds of efforts will surely motivate other banks to promote green banking and consequently in long run environmental issues can be resolved. Agri Banking Rural Banking Global Banking Social Banking Ethical Banking Other Issues Green Banking 3. 4. 2 Green Banking: A New Eco-Friendly Concept in Banking Arena:Green banking is a component of the global initiative by a group of stakeholders to save environment where, sustainable development has emerged as a new paradigm of development in response to the current discourse of development that over-exploits natural environment for economic prosperity. The sustainable development can best be achieved by allowing markets to work within an appropriate framework of cost efficient regulations and economic instruments. One of the major economic agents influencing overall industrial activity and economic growth is the financial institutions such as banking sector.The banking sector influences the economic growth and development in terms of both quality and quantity, there by changing the nature of economic growth. Banking sector is one of the major sources of financing investment for commercial projects which is one of the most important economic activities for economic growth. Therefore, banking sector can play a crucial role in promoting environmentally sustainable and socially responsible investment (SRI). Banks may not be the polluters themselves but they will probably have a banking relationship with some companies/investment projects that are polluters or could be in future.Banking sector is generally considered as environmental friendly in terms of emissions and pollutions. Internal environmental impact of the banking sector such as use of energy, paper and water are relatively low and clean. Environmental impact of banks is not physically related to their banking activities but with the customer’s activities. Therefore, environmental impact of bank’s external activity is huge though difficult to estimate. Moreover, environment management in the banking business is like risk management.It increases the enterprise value and lowers loss ratio as higher quality loan portfolio results in higher earnings. Thus, encouraging environmentally responsible investments and prudent lending should be one of the responsibilities of the banking sector. Further, those industries which have already become green and those, which are making serious attempts to grow green, should be accorded priority to lending by the banks. This method o f finance can be called as â€Å"Green Banking†, an effort by the banks to make the industries grow green and in the process restore the natural environment.This concept of â€Å"Green Banking† will be mutually beneficial to the banks, industries and the economy. Not only â€Å"Green Banking† will ensure the greening of the industries but it will also facilitate in improving the asset quality of the banks in future. Internationally, there is a growing concern about the role of banking and institutional investors for environmentally responsible/socially responsible investment projects. Banking and other financial institutions are more effective towards achieving this goal for the kind of intermediary role they play in any economy and for their potential reach to the number of investors.Environment is no longer the exclusive concern of the government and the direct polluters, but also the other partners and stake- holders in the business like financial institution s such as banking institutions can play a very important role in fostering linkage between economic development and environmental protection. To substantiate, quality of service, the implementation of environmental conservation measures, support to the deprived section of the society, concern about the quality of life and nature are the basic principles that the financial institutions are relying on in their business strategy in recent years.The banking operation targets a certain long-term rate of return on their credit and investment. Therefore, it is of importance to the banking sector to follow certain environmental evaluation of the projects before financing. There are studies showing positive correlation between environmental performance and financial performance (Hamilton, 1995; Hart, 1995; Blacconiere and Pattern, 1993). Thus, it is imperative for the financial institutions in the present context to consider environmental performance in deciding whether to invest in companie s or advise clients to do so.The formation of different rules for environmental management like resource conservation, clean water act, clean air act, toxic substance control act are also viewed as potentially significant contributor to the recent increase in environmental liability for banking institutions. Adoption of these principles will offer significant benefits to financial institutions, to consumers and also the stakeholders. There have been attempts to adopt sustainable development strategies from various quarters at international level.Multilateral agencies, international consortiums, multilateral financial and development institutions have been advocating for environmental standards and strategies to evaluate investment projects. In the recent years, the international organization for standardization (ISO) has issued series of comprehensive guidelines for incorporating environmental protection and pollution prevention objectives into industrial activity worldwide, known c ollectively as ISO 14000. It would certainly give the much needed impetus for the banking industry to expand the use of environmental information in their credit extension and investment decisions.In this backdrop, the paper aims to discuss the issues of sustainability in Banking and how banks can play a role for sustainable growth and development, particularly in the Bangladesh context. The state of environment in Bangladesh is rapidly deteriorating. The key areas of environmental degradation cover air pollution, water pollution and scarcity, encroachment of rivers, improper disposal of industrial medical and house-hold waste, deforestation, and loss of open space and loss of biodiversity. In addition, Bangladesh is one of the most climate change vulnerable countries.In line with global development and response to the environmental degradation, financial sector in Bangladesh should play important roles as one of the key stake holders. In response to the above, urgent measures are r equired by stake holders for sustainable development and thereby save the planet. Banks hold a unique position in an economic system that can affect production, business and other economic activities through their financing activities and thus may contribute to pollute environment. Moreover, energy and water efficiency and waste reduction are of high concern for many big banks.Green banks or environmentally responsible banks do not only improve their own standards but also affect socially responsible behavior of other business. 3. 4. 4 Green Banking & Environmental Risk Management Interrelationship: 3. 4. 3 Green Banking & Sustainable Growth: Sustainable development meets the need of present generation without compromising the ability of future generation to meet their own needs. The key to sustainable development is to ensure broad-based inclusive economic growth, with: * Promotion of natural resources; Preservation of regenerating capacity of ecological system; * Avoidance of envi ronmental risks on future generations. Banking sector can play an intermediary role between economic development and environmental protection. Green Banking & Environmental Risk Management (ERM) move together to care for: * Environmental problems * Poverty & environment * High consumption patterns * Health and environment * Moral obligation 3. 4. 6 Scope of Green Banking: 3. 4. 5 Purpose of Green Banking:The purpose of Green Banking Policy will be to ensure necessary measures to protect environmental pollution while providing service or financing customers as well as to improve in-house environment management through efficient use of various resources at Head Office, Branches and other link offices. This policy document will be applicable for issues related to Green Banking with respect to activities of the Bank and its customers that have impact on the environment. 3. 4. 7 Benefits of Green Banking: Apart from enrichment of the external environment, Green Banking may also help impr ove the performance of the Bank in the following ways: Basically Ethical (Green) banking avoids as much paper work as possible and rely on online/electronic transactions for processing so that you get green credit cards and green mortgages. Less paperwork means less cutting of trees. * Creating awareness to business people about environmental and social responsibility enabling them to do an environmental friendly business practice. * Green (Ethical) banks adopt and implement environmental standards for lending, which is really a proactive idea that would enable eco-friendly business practices which would benefit our future generations. When you are awarded with a loan, the interest of that loan is comparatively less with normal banks because ethical banks give more importance to environmental friendly factors – ecological gains. Natural resources conservation is also one of the underlying principles in a green bank while assessing capital/operating loans to extracting/industr ial business sector. * Improve the image of the Bank by showing and serving its commitment to the environment. * Significantly reduce operational cost due to less consumption of office stationeries, energy and water. Enhance productivity as well as efficiency of the employees through skilled & optimum usage of technology. * Reduce possible health hazards by installing eco-friendly equipments. * Save significant portion of Forestry by reducing paper usage * Lessen emission of Green House Gases (GHGs) through making less corporate travelling through teleconferencing as well as arranging transport pool for the employees. * Help develop customer’s consciousness on environment by arranging awareness development program * Reduce the extent of Non-Performing Loans (NPLs) if investment goes to less risky projectsThe Initiatives for Promoting Green Banking: 4. 1 Ethical Initiatives and Community Involvement: Numerous banks (as well as some conventional banks) create initiates that all ow the banker to contribute to organizations that have positive societal environmental impacts either in the local community or in developing countries. For example the Cooperative Bank (UK) offers customers â€Å"a free Home Energy Rating on all house purchases, enabling them to better understand how energy efficient a property is and how to make improvements. Additionally, all of the bank's mortgages include carbon-offset features.Every year that a customer holds a mortgage the bank offsets a fifth of the carbon dioxide emissions arising from a typical household’s energy consumption following customer consultation 2003 offset monies were used for reforestation in Uganda, a Bangladesh project which trains local people to build energy efficient stoves and a Bulgaria project supporting micro-hydro electricity generation. Whereas the Citizens Bank (Canada) allows its customers to choose between a variety of VISA cards that benefit Oxfam Canada Amnesty International or their ph ilanthropic Shared interest program by donating $0. 0 to non-for-profit initiatives worldwide every time their VISA card is used. This enabled Citizens Bank to donate $24,800 to Doctors without Borders/ Medicines Sans Frontiers in 2007. These are only a few of the wide range of services available at different ethical banks. Many also have lower interest loans for low emission cars (ex. of low emission car initiative put forth by citizens Bank). Ethical banks excel in community involvement, as do other financial instructions such as credit unions. Community involvement is not limited to ethical banks as conventional banks also partake in such actions.The following are a few examples of community involvement done by ethical banks, credit unions, and conventional banks: * Affordable housing projects (ex. Van city ; Citizens bank) * Many banks/credit unions try to increase financial literacy and consciousness for environment in the community * Financially support community events (for e x. each year TD Canada trust donates to a local cause). The role of Green banking in Environmental Management. The world has seen much focus on economic progress and mankind has made giant steps in its journey through time.The side effects of the development process have’ however, also been equally enormous-loss of biodiversity' climatic change' environmental damage, etc. Social issues such as, poverty alleviation have also become more important as the world has progressed economically’ Banks play an important role in development of an economy. The economic reforms totally have changed the banking sector. The banking sector forming a portion of the financial sector primarily works as a financial intermediary generating money supply.The banks should go green and play a pro-active role to take environmental and ecological aspects as part of their lending principle, which would force industries to go for mandated investment for environmental management' use of appropriate technologies and management systems. Banks that are serious about sustainable development put principles at the heart of decision-making' Fundamental issues such as how deals are done and loans are made, in searching proactively for opportunities and even in establishing and adhering to policy frameworks that deliberately preclude involvement in certain investments.For example, an investment in a factory that pollutes heavily (and passes on the costs to the society at large) will generally have a higher financial rate of return than a factory that invests in expensive pollution control technology' as a result showing a lower rate of return. A Green Banking movement such as less paper is good for the environment where Customers make paper less deposits, withdrawals and remittances. Going green through I. No paper statements (statements and charges summaries will be delivered electronically Via Internet Banking) II.Fewer letters to open (Bank will call or email us for service reasons wherever possible rather than write to us) III. No cheque book or paying-in book for our current account. IV. No paper-based marketing. The Bank can concentrate on Nature and environment by projects in the field of renewable energy (wind energy & hydro-electric projects), organic agriculture across the entire value chain including health food shops and environment technology such as recycling companies and nature conservation projects.As environmental issues gain greater attention, pressures are being placed on all industries, including financial services, to implement â€Å"green† initiatives. Like Resource conservation through cash recycling, double-sided statement print-outs’ electro mobility. 4. 2 International Initiatives for Green Banking: The financial sector’s glowing adherence to environmental management system is attributed to the direct and indirect pressures from international and local Non-Governmental Organizations (NGOs), multilateral agencies an d in some cases the market through consumers.In the early 1990s, the United Nations Environment Program (UNEP) launched what is now known as the UNEP Finance initiative (UNEPFI). Some 200 financial institutions around the globe are signatories of this initiative statement to promote sustainable development living the framework of market mechanisms toward common environmental goals. The objective is to integrate the environmental and social dimension to the financial performance and risk associated with it in the financial sector.As the commitment of this UNEPFI statement goes, sustainable development is regarded basic to the sound business management. It advocates for a precautionary approach towards environmental management and suggests integrating environmental considerations into the regular business operations, asset management, and other business decisions of the banks. IFC's environmental unit was established in 1991 for reviewing each project for environmental assessment.Simi larly, the US Export-Import Bank regularly reviews while financing exports on the ground whether they are environmentally sound. It will be noteworthy to mention that Netherland-based ABN-Amro bank has developed certain Reputational Risk Management (RRM) policies to identify, asses and mange non-financial present within it business engagements- Similarly, some of the big international banks like ABN Amro, Deutsche, Standard Chartered, HSBC Bank etc. look at environment issues discussed under Kyoto Protocol.Going further, the Dutch Government has made a formal request to barks in achieving sustainable development. The dialogue between banks and government was established in 1999 to initiate policies for environmental improvements through the development of new financial products and services. Similarly, Earth (FOE) and the Rainforest Action Network (RAN) challenged the industry with high-profile campaign that highlighted cases in which commercial banks were -bankrolling disasters in 2000 in the US.In 2002, a global coalition of NGOs formed a network named Bank Tract’ to promote sustainable finance in the commercial sector. This coalition came up with a resolution constituting six principles promoting environmental protection and social justice by banks and this is popularly known as â€Å"Collevecchio Declaration†. The six principles that this declaration advocated included commitments to sustainability no-harm responsibility, accountability, transparency and sustainable market, and governance.More than 200 organizations have endorsed this declaration and urged the banks to incorporate these commitments into their business operation The declaration states that -Finance and Commerce has been at the center of a historic detachment between the world's natural resource base, production and consumption. As we reach the boundaries of ecological boundaries of the ecological limit upon which all commerce relies, the financial sector should take its share of responsibility for reversing the effects this detachment has produced.All these concerns for sustainable finance or green finance have compelled the banking institutions to devise a common and coherent set of environmental and social policies and guidelines that can be used to evaluate the projects. A small group of banks along with IFC carne together to initiate the process of designing the common guidelines in October 2002 and came up with a guidelines in June 2003 that is known as Equator Principles with 10 leading commercial banks adopting these voluntary set of principles.This equator principle was subsequently updated and the new revised sets of principles are hunched in July 2006. The coverage of projects being financed is expanded in this revised set of principles by lowering the finance threshold from $50 million to $10 million presently 46 financial institutions from 16 countries with business operation in more than 100 countries have embraced this equator principle, So this principle has become a common standard of project finance that imported environmental and social issues in project finance.The activities of the equator banks (banks adopting equator principles) are being reviewed by NGOs worldwide and are being published whenever it is realized that they are not committed to Equator Principle. IFC along with the Financial Times has initiated Sustainable Banking Award' since 2006. More than 104 financial institutions out of 151 entries from 51 countries have made it to the final lists of award 2007. The number of banks applying was up by more than 100 percent compared to the previous year’s 48 banks from 28 countries.All the international initiatives towards integrating environmental concerns into business operation of banks are voluntary in nature and are meant to a common good of a better ecosystem Voluntary commitment has its own shortcoming in a competitive market. Unless the market for green money will increase, the lenders will al ways have an incentive to increase their social commitment and prioritize the commercial interest in the short run. So demand for green money is a precondition of green banking if it will be voluntary.A Government legislation that makes banks accountable for the misdeeds of their clients will help promotes green banking. 4. 2. 1 Global initiatives: Durban Climate Conference: Governments agreed to adopt a universal legal agreement on climate change by 2015. Key Decisions: * Green Climate Fund to be made available to developing countries by 2012. * Adaptive capacities of the poorest and most vulnerable countries to be strengthened. * Technology Mechanism to become fully operational by 2012. * Web-based registration of developing country mitigation actions seeking financial support. . 3 Domestic Initiatives for Green Banking: : Though be late, Bangladesh is now aware that global warming is an issue that calls for a global response. The rapid change in climate will be too great to allow many eco-systems to suitably adapt, since the change have direct impact on biodiversity, agriculture, forestry, dry land, water resources and human health. Due to unusual weather pattern, rising greenhouse gas, declining air quality etc. society demands that business also take responsibility in safeguarding the planet.Green finance as a part of Green Banking makes great contribution to the transition to resource-efficient and low carbon industries i. e. green industry and green economy in general. Green banking is a component of the global initiative by a group of stakeholders to save environment. The state of environment in Bangladesh is rapidly deteriorating. The key areas of environmental degradation cover air pollution, water pollution and scarcity, encroachment of rivers, improper disposal of industrial medical and house-hold waste, deforestation and loss of open spaces and loss of biodiversity.In addition, Bangladesh is one of the most climate change vulnerable countries. In line with global ; development and response to the environmental degradation, financial sector in Bangladesh can play important roles as one of the key stake holders. In response to the above, urgent measures are required by stakeholders for sustainable development and thereby save the planet. Banks hold a unique position in an economic system that can affect production, business and other economic activities though their financing activities and thus may contribute to protect environment.Moreover, energy and water efficiency and waste reduction are of high concern for many big banks- Green banks or environmentally responsible banks do not only improve their own standards but also affect socially responsible behavior of other business. 4. 3. 1 Bangladesh Bank's Earlier Initiatives: Bangladesh Bank (BB) is well aware of the environmental degradation situation as mentioned above and has already given time to time directions to all scheduled banks.Commercial Banks are now required to e nsure necessary measures to protect environmental pollution while financing a new project or providing working capital to the existing enterprises. Banks have been advised to facilitate their clients with utmost care in opening Letter of Credit (L/C) for installation of Effluent Treatment Plant (ETP) in the industrial units. Banks have been advised to finance in Solar Energy, Bio-gas, ETP and Hybrid Hoffman Kiln (HHK) in brick field under refinance program of BB.A comprehensive guideline on Corporate Social Responsibility (CSR) has been issued where banks have been asked to concentrate hard on linking CSR at their highest corporate level for ingraining environmentally and socially responsible practices and engaging with borrowers in scrutiny of the environmental and social impacts. Banks have been brought under the purview of E-commerce with a view to providing the customers with online-banking facilities covering payments of utility bills, money transfer and transactions in local c urrency through internet as well.Considering the adverse effects of Climate Change, banks have been advised to be cautious about the adverse impact of natural calamities and encourage the farmers to cultivate salinity resistant crops in the salty areas, water resistant crops in the water locked and flood prone areas, drought resistant crops in the drought prone areas, using surface water instead of underground water for irrigation and also using organic fertilizer, insecticides by natural means instead of using chemical fertilizer and pesticides. 4. 3. 2 Commercial Banks’ Attention to Green Banking:Bangladesh Bank governor urged the chief executive officers of the country’s banks to pay attention to green banking, by investing in energy efficiency and renewable energy projects. Central bank has a fund named -Renewable Energy Fund. Only two banks have so far taken the opportunities offered by the fund. The central bank governor made the request at the launching ceremony of the Environmental Risk management Guidelines. BB urged the banks and financial institutions to keep climate change and environmental considerations as priorities in their activities.The Impact of a deteriorating climate on financial institutions and business enterprise have driven the creation of the Environmental Risk Management Guidelines, encouraging banks and FIs to adopt risk management practices to safe guard against these inevitable environmental concerns. Detailed guidelines on green banking were Issued on February 27,2011 in which banks have been advised to give more emphasis to help environment by eliminating paper uses saving gas and carbon emissions, and reducing printing costs and postage expenses.Banks shall comply with the instructions stipulated in the detailed guidelines on Environmental Risk Management in consideration of a part of the Green Banking Policy. The comprehensive guidelines were developed by Bangladesh Bank in collaboration with IFC and with input f rom Bankers Association of Bangladesh and financial sector stakeholders and have been issued to all financial institutions in the country. The Major Area & Products of Green Banking 5. 1 The Major Areas of Green Banking: : Green banking can benefit the environment either by reducing the carbon footprint of consumers or banks.Either a bank or a consumer can conserve paper and benefit the environment. Ideally, a green banking initiative will involve both. Online banking is an example of this. When a bank’s customers go online, the environmental benefits work both ways. Other examples of what Green Bank Report considers forms of green banking on the consumer side include: * Green Deposits: Banks can offer higher rates on CDs, money market accounts, checking accounts and savings account if customers opt to conduct their banking activities online. Green Checking – converting checking accounts to online banking * Green Money Market Accounts – converting savings accoun ts to online banking * Green CDs – bonus rates for online banking * Green

Monday, July 29, 2019

Comparison of Political System Essay Example | Topics and Well Written Essays - 750 words

Comparison of Political System - Essay Example As the report declares the differences in the two approaches are more in the attitudes and systems. Locke believed that education helped civilize the human force and that people do good so that they get real lives. He sees civilization as admirable, and that societal order lies on reason and reciprocity. Rousseau’s theory asserts that humans are innately good, and civilization does not play a part in the way humans do things. From the report findings it is clear that France is a semi-presidential republic while America is a presidential, federal republic. The French system has their president elected after every five years on popular vote. In America, they elect their president after every four years through the Electoral College. As it is the norm in many countries, the American president signs bills into law while in France, he/she does not sign bills to make them laws. The president only announces the new legislation. In France, the president is the commander in chief of the armed forces just as the American president. There are several similarities between the two institutions. Both can grant pardons and give appointments. The French president appoints most officials and the PM, but his powers are limited when it comes to dismissing him. In America, the president does executive appointments. The French head of state can dissolve the National Assembly the same as America.

Sunday, July 28, 2019

CORPORATE COMMUNICATIONS Essay Example | Topics and Well Written Essays - 1750 words

CORPORATE COMMUNICATIONS - Essay Example xv). Organizations today need to focus on developing and implementing a comprehensive corporate communications plan in order to address and resolve the challenges posed by the highly dynamic external environment and the cope with the media pressures in this new corporate environment. McDonald’s Corporation: McDonald’s Corporation is a global multinational fast food restaurant chain touted to be the world's largest chain of fast food restaurants headquartered in Oak Brook, Illinois United States. As of 2013 the company boasts of over 34000 restaurants in more than 119 countries worldwide including Asia Pacific, Latin America, North America, Europe, the Middle East, as well as Africa (McDonald’s, 2013a) serving over 69 million customers daily (McDonald’s Corporate Report, 2012). Values, mission & vision: The brand's mission is â€Å"to be our customers' favorite place and way to eat and drink†. In order to achieve this objective it follows its global strategy 'Plan to Win' which is centered on ensuring an exceptional experience for their customers (McDonald’s 2013b). Its vision is â€Å"to be the world's best quick service restaurant experience. Being the best means providing outstanding quality, service, cleanliness, and value, so that we make every customer in every restaurant smile† (McDonald’s, 2013c). Corporate Communication Plan – McDonald’s Corporation McDonald’s has recently faced severe criticism from the mass media, as well as from the general public, for various reasons including - its aggressive marketing strategies which mainly targeted children and minority population selling them unhealthy food with low nutritional value; increased dissatisfaction among the workers for low pay; increased complaints from the customers for rude behavior by their employees; growing dissatisfaction among the franchisees for increased pressure to deliver etc., among others. Such events have res ulted in a chain of negative repercussions for the organization and in the absence of a proper strategy, might lead to disastrous consequences in the long run affecting their profitability and credibility. Effective corporate communication strategy

Saturday, July 27, 2019

Cause and effect - Smoking Essay Example | Topics and Well Written Essays - 500 words

Cause and effect - Smoking - Essay Example Currently, most of the smoked substances contain nicotine, which has medically been proved to have a poisonous alkaloid with inclusion of other harmful substances such as ammonia and carbon dioxide, thus giving prove to a serious health hazard association. In this regard, smoking causes a higher chance of contracting lung cancer depending on the number of cigarettes that the smoker uses on a daily basis. Similarly, the type of substance used and the period of time the smokers have practiced this behavior has an impact (Eysenck 20). According to Eysenck (33), smoking of various automatically affects different body parts and their roles. Firstly, smoking has an adverse effect on the fertility of both men and women especially when it comes to sexual performance. Consequently, most smokers are perceived to be generally unhealthy since the smoking substances such as cigar, cigarettes and pipes result to bad skin, and bad breath, which further leads to halitosis and chronic health issues. In addition, such people are known to have smelly hair and clothes as a result of consuming too much cigarettes, cigar and pipes. Additionally, smoking is that it is primarily leads to chest diseases such as pulmonary disease, stroke and heart diseases that have serious complications. As such, inhalation and exhaling of these substances directly affects chest operations. Furthermore, smoking among men has continually posed a threat to male potency as a result of the components that are found in the smoking substances (Eysenck 21). Similarly, smokers are said to be at a higher risk of experiencing low immunity levels, which is evident through frequent attacks of pneumonia, bronchitis, colds among other diseases. In general sense, the effect of smoking revolves around the brain, heart, lungs and mouth. Although most body parts are affected by smoking; the most vital part is the heart which is affected to the extent that the inhalation of the carbon

Friday, July 26, 2019

A summary about a primary source about american history before 1865 Essay

A summary about a primary source about american history before 1865 - Essay Example Such was a significant stand that had earned him hatred among the white farmers who relied on slave labor. Furthermore, slave trade was a large industry that contributed to the economy of the country at the time. The president restates his desire to end slavery owing to the inhumane aspects it exhibited. He explains that he seeks to end slavery by influencing a change in the country’s constitution. This way, he shows that he respects the constitution. He would only introduce a change in the constitution by influencing the mindset of other elected representatives. In the letter, he expresses his desire in saving the union. The civil war threatened to destabilize the United States. He therefore explains his desire and efforts aimed at ending the civil war thus saving the union. In doing this, he explains will comply with the letters of the constitution and ending slavery thus creating a cohesive state that upholds the values of

Speech Essay Example | Topics and Well Written Essays - 1250 words

Speech - Essay Example Education is a fundamental right entrenched in the constitution of many nations. Generally, education defines an avenue through which accumulated knowledge, cultures, values, technical skills, and customs passes from one generation to another through a well-defined system under the law. It takes place in an institution of learning famously known as a school following a system known as a curriculum. In fact, we acquire education through training, learning, research, and experimentations. The process of acquiring education is expensive and thus requires funding either from the government or from individuals. Moreover, there are different types of education that take place in variant levels of education. Nevertheless, the education process has no end with more education advancements becoming requisite with the ever-increasing societal needs. We refer to education givers as tutors, lecturers, or teachers depending on the level and type of education they are offering. However, at any leve l, there is assessment inform of examinations that measures success in education. Most significant, is the impact of education in the society where it ultimately helps individuals make the right decisions. It is arguably true that education has undergone many revolutions and restructuring in the recent times but its uniqueness and impact remains unraveled. The revolution has brought about different categories of educations that apply in variant countries. In general, we have three types of education that include formal education, adult education, and special education. Formal education is the streamlined type of education that encompasses the process of getting primary education, higher education and full time professional training as well as extra-curricular activities. It is the most fundamental type of education that is relevantly applicable to students seeking professional careers. The top cream of formal education includes university professors with a PhD and requisite

Thursday, July 25, 2019

Archetypal and mythic patterns in the Titanic Movie Review

Archetypal and mythic patterns in the Titanic - Movie Review Example The Titanic was released in 1997 and became one of the most celebrated motion pictures to have been made. It was honored with four Golden Globe awards besides the Producer Guild of America Award and Oscars for Best Picture and Best Director being prominent amongst countless more nominations and awards.This paper shall highlight the archetypal and mythic patterns in the movie that contributed to the exponential success that the movie attained (.The titanic constituted of a lengthy cast which comprised of actors and actresses playing the characters of fictional characters on the ship as well as a few who represented the real people who were present on the ship. Notable leads in the cast included Leonardo Di Caprio as a fictional character who is a penniless man with nothing to lose and lives life as it comes forth, Kate Winslet as a fictional character who a young girl belonging to the upper class and has the fervor to break free of the hassles of a rich life but lacks the courage to d o so, Billy Zane as fianc to Kate Winslet's character, Frances Fisher as Kate Winslet's character's widowed mother, Victor Garber as Thomas Andrews Junior who was in reality present on the ship when it sailed and was the ship's builder, as well as Gloria Stuart, Bernard Hill and Bill Paxton playing fictional characters as well. However, it was the fact of knowing that a few of the members of the cast had actually once existed and had been involved in the actions shown in the movie that was the reason for the continuous attention that the movie captured.

Wednesday, July 24, 2019

Comparison critique of 2 famous speeches Essay Example | Topics and Well Written Essays - 750 words

Comparison critique of 2 famous speeches - Essay Example In Kennedy’s address, he used both ethos and pathos to convince the audience that under his leadership significant ties that allegedly bind the country to other foreign governments would continue through his offer and pledges of loyalty, hope, good deed, and a call for peace. They both exuded the air of confidence during the whole duration of the speech and assuming ample preparedness prior to the delivery. Though both were glancing at some previously prepared notes on the speech, it was clearly evident that they knew most of the contents of the speech and frequent glancing was enough to ensure that the delivery flowed perfectly and effectively. Their appearances were both sublime and very professional; donning formal suits with respective neckties and hair perfectly groomed. Likewise, both employed sustaining a particular tone that uses emphasis and clarity in pronunciation, diction and use of flawless grammar. Both speakers, during their course of delivery, were intermittent ly applauded by the audience, to signify conformity and approval to their points of assertions. Both Reagan and Kennedy knew the effective use of body language that employs glancing at the audience, looking at them through their eyes, briefly glancing on their notes, changing their facial focus to the right, the middle and the left portion of the audience, and using the appropriate tone and marks of emphasis, as needed. Likewise, in terms of audience orientation, it was evident in both speeches that the audience impact and appeal were both positive. Intermittent claps were heard, especially when the speakers noted some relevant arguments that were appropriately supported; or when figurative languages were used. The fact that these speakers were the ones who delivered the speeches resulted in an enhanced credibility and audience appeal. If the speech were delivered by somebody else, it could have significantly affected audience impact, depending on the person’s character, the manner of delivery, air of confidence, and manifested authority, among others. Concurrently, there were disparities between the delivery, style, and focus or thrusts of these two speeches. In Reagan’s speech, he did not begin the speech by acknowledging the presence of personalities who were present; unlike Kennedy’s speech which begun with acknowledging the following: â€Å"Vice President Johnson, Mr. Speaker, Mr. Chief Justice, President Eisenhower, Vice President Nixon, President Truman, reverend clergy, fellow citizens† (John F. Kennedy Inaugural Address par. 1). Reagan’s introduction was simply to acknowledge gratitude from the audience by repeatedly saying â€Å"Thank you. Thank you very much. Thank you and good evening† (A TIME FOR CHOOSING (The Speech – October 27, 1964) par. 1). Likewise, the speed of Reagan’s speech was faster, as compared to the slower paced and significantly rehearsed pacing by Kennedy. The total number of words

Tuesday, July 23, 2019

Compare and contrast the different respects in which Freemen were Essay

Compare and contrast the different respects in which Freemen were treated during Reconstruction by the Cherokee Nation and how t - Essay Example Following an establishment of a working treaty with the United States of America, these individuals gained Cherokee citizenship in 1866. Numerous rights of the freedmen remained limited with some being available only to Cherokees and not freedmen Cherokees. During the reconstruction of the Cherokee nation, freedmen were only granted citizenship into the Cherokee nation. Numerous human rights, however, were not granted to the freedmen Cherokees following citizenship. Controversies continued through the 20th century concerning the rights granted to freedmen Cherokees. These individuals felt they were being accorded second grade citizenship with limited rights. Though the Cherokee citizenship offered freedmen with citizenship based on possession of Cherokee blood, amendments into the constitution later involved acceptance based on historical presence. The Cherokee nation presented controversial regulation regarding citizenship of freedmen Cherokees. This controversy continues to yield c ontinuous court battle as freedmen seek acceptance into the citizenship of Cherokee nation. Various Cherokee constitutional laws declare that qualification to Cherokee citizenship should be based on having Cherokee blood relationships and not merely historical presence within the Cherokee nation. ... Within the context of Cherokee nation, however, separation of these parameters remains difficult. The integration of the Cherokee nation as part of the United States of America brought significant impact and clarification of the pending citizenship issues. Freedmen Cherokees continued to be accorded limited right by the Cherokee nation. These included limitation into intermarriages with native Cherokees; hence freedmen Cherokees could not intermarry with native Cherokees according to the Cherokees’ regulations. This mainly remained so because these freedmen continued to be viewed as slaves of the Cherokees. There exists an unwritten slavery law where masters cannot intermarry with slaves. This theoretical believe continued to be commonly practiced within the Cherokee nation. The freedmen were also accorded second-class citizenship, with limited rights, like those of intermarriages. Adaptation into the constitution of the United States of America included access to various righ ts, previously unavailable. These included the right for freedmen Cherokees to vote and elect leaders. Though the united states governments seeks to empower the freedmen Cherokees through giving them human right accorded to other marginalized communities, controversy continues to cloud the issues of freedmen Cherokees. These individuals were offered citizenship into Cherokee nation before integration into the United States of America. The standing order, therefore, remains that they are still bound by the regulations which gave them Cherokee citizenship. These people, therefore, completely remain bound by the constitution of the Cherokee nation whose authority

Monday, July 22, 2019

Growth Mindset Essay Example for Free

Growth Mindset Essay Asking Effective Questions Problem Solving Approach in mathematics classroom because it engages student in inquiry, prompting them to build on and improve their current knowledge as they â€Å"construct† explanations and help them solve tasks at hand. In a â€Å"Constructivist classroom† students are seen as the ones who are actively creating their own knowledge†. This is done through questioning to h I need respect, motivation, encouragement, determination, to have confidence in your students. 8 Tips for Effective Questioning 1. Anticipate Student Thinking (plan the possible questions to stimulate thinking and deepen student understanding 2. Link to Learning Goals 3. Pose open ended questions 0 help build students’ self-confidence, help them respond at their own stage of development and allow for differentiation Invitational stems that use plural forms and exploratory language invite reflection. Huinker and Freckman (2004, p. 256) suggest the following examples: As you think about Given what you know about In regard to the decisions you made From previous work with students When you think about..As you consider In what ways In your planning Take a minute. 4. Pose Questions that actually need to be answered 5. Incorporate verbs that elicit higher levels of Bloom’s Taxonomy Verbs such as connect, elaborate, evaluate and justify prompt students to communi- cate their thinking and understanding, to deepen their understanding and to extend their learning. Huinker and Freckman (2004, p. 256) provide a list of verbs that elicit specific cognitive processes to engage thinking: observe notice remember contrast interpret evaluate summarize visualize (â€Å"see†) differ distinguish decide identify compare predict explain conclude infer relate consider describe 6. Pose Questions that Open up conversations to include others. 7. Keep Questions Neutral 8. Provide Wait Time (use strategies such as turn and talk, think-pair-share and round robin to give students time to articulate and clarify their thinking Ms Hastings does use different Instructional Strategies. She builds strong relationships with her students, set high expectations for performance and has a good understanding of their needs to reach success in her classroom. Ms Hastings first has a strong belief in the â€Å"Growth Mindset† by setting high expectations and showing student they can learn as opposed to the belief of â€Å"either you are good at math or not†. Teacher shows students how they can succeed and achieve through â€Å"application and experience†. Their words and actions make it clear that the past does not dictate the future. If a teacher promotes the â€Å"growth mind-set†, they can focus students on â€Å"self-development, self-motivation and responsibility† and help them develop the mental determination to continue to improve. She clearly sets objectives and provides feedback to her students to help them progress. By reinforcing effort and providing recognition, students believe they can succeed. These strategies all provide students with the belief that they can positively affect their learning She also uses various strategies to promote thinking and learning in the classroom. She uses cooperative learning, uses effective questioning and graphic organizers. She uses team building exercises and forms a base group, in which they learn and work together for the semester. In reading the Capacity Building Monograph in â€Å"Asking Effective Questions in Mathematics† in showed how you can change Learning to becoming something you get for a short time to permananence and building a deeper understanding. In Ms. Hastings class, the 8 tips provided in this monograph are great strategies being used in Ms. Hastings class. One of the most important influences in student achievement is the relationship between teacher and students (Hattlie, 2009). By Ms. Hastings telling success stories this provides encouragement to her students. Ms. Hastings class is preparing her students with the skills of the â€Å"21st Century Learner†. She is doing this by helping her students set personal learning goals, self-assessment for understanding, therefore, making learning permanent, accessing tools and resources for enhancing their understanding and using their learning in rich meaningful tasks in real-world contexts. These students will learn problem-solving, critical thinking and using their prior knowledge and skills to apply them to new situations. Two challenges faced by adolescents is the belief they are not good at math, therefore, find it challenging and are less engaged in math class. The second challenge is to make math learning become permanent through student engagement. This means using Instructional Strategies to ensure students are engaged in their own learning and self-assessment. One of the challenges faced by adolescents is the belief they are â€Å"not good at math†. This may be imparted by their parents belief they were not good at mathematics and do not ask more from their children. There needs to be a shift from this belief from all adults involved. They must recognize and affirm the importance of mathematical literacy for all. In the Ministry’s Numeracy Report (2004), students need the â€Å"ability to deal with the  fundamental notions of number and change in order to make sense of mathematical information presented in everyday contexts† (Paulos, 1988, pg.). Mathematical literacy in important for both employment and post-secondary admissions. Therefore, as teachers, we need to take advantage of the abundant opportunities for fostering mathematical literacy across the curriculum. As with Ms. Hastings, has a strong belief in the â€Å"Growth Mindset† by setting high expectations and showing student they can learn as opposed to the belief of â€Å"either you are good at math or not†. Teacher shows students how they can succeed and achieve through â€Å"application and experience†. Their words and actions make it clear that the past does not dictate the future. If a teacher promotes the â€Å"growth mind-set†, they can focus students on â€Å"self-development, self-motivation and responsibility† and help them develop the mental determination to continue to improve. She clearly sets objectives and provides feedback to her students to help them progress. By reinforcing effort and providing recognition, students believe they can succeed. These strategies all provide students with the belief that they can positively affect their learning She also uses various strategies to promote thinking and learning in the classroom. She uses cooperative learning, uses effective questioning and graphic organizers. She uses teambuilding exercises and forms a base group, in which they learn and work together for the semester. The second challenge faced by adolescent if to ensure their learning has â€Å"permanence†. This is done through strong conceptual foundations in math and ample opportunities for students to demonstrate their knowledge. I also believe that as teachers we need to use effective instructional strategies to emphasize student ability to think, use problem-solving skills and build on prior knowledge. Ms. Hastings uses various strategies to promote thinking and learning in the classroom. She uses cooperative learning, uses effective questioning and graphic organizers. She uses team building exercises and forms a base group, in which they learn and work together for the semester. In reading the Capacity Building Monograph in â€Å"Asking Effective Questions in Mathematics† in showed how you can change Learning to becoming something you get for a short time to permanence and building a deeper understanding. In Ms. Hastings class, the 8 tips provided in this monograph are great strategies being used in Ms. Hastings class. One of the most important influences in student achievement is the relationship between teacher and students (Hattlie, 2009). By Ms. Hastings telling success stories this provides encouragement to her students. Ms. Hastings class is preparing her students with the skills of the â€Å"21st Century Learner†. She is doing this by helping her students set personal learning goals, self-assessment for understanding, therefore, making learning permanent, accessing tools and resources for enhancing their understanding and using their learning in rich meaningful tasks in real-world contexts. These students will learn problem-solving, critical thinking and using their prior knowledge and skills to apply them to new situations. To be able to prepare our students as 21st Century Learners, we need to increase our math competence through professional learning to be more effective. The Expert Panels Report on Student Success in Ontario Mathematical Literacy, Grades 7-12 (May 2004) looked at at-risk mathematical learners and came up with a number of themes: Effective teaching and learning begins with the needs to the adolescent learners and have a good understanding of their development stages Connect the learning in math to the lives of the students (having rich meaningful tasks that connect to real-life contexts) Ensuring they have a strong conceptual foundations to be able to apply their knowledge and continue their learning Instructional learning strategies empahisize problem solving and building and one’s own understandings To improve students’ performance, teachers need to link instruction more closely to assessment More professional learning opportunities for teachers to strengthen their competence in math Technology to support learning and have more accessibility to students who are struggling in math Also extra support for  Ã¢â‚¬Å"at risk† students to close the gap Strong leadership and strong planning to create an effective learning environment in which all the needs of the students are met and success is promoted. 2. Changing Climate – Transforming Classroom Culture Dan Myer Inquiry Based Learning Being interest in students thinking How my teachers see them in a sincere way and shed the idea of controlling the process Bring the student who are not strong in the foundations Gains in achievement – multimedia helped students who are identified at risk or LD Teach as we are taught, memorization, calculations, learning formulas, doing math and debrief M.J. Hobbs Senior P.S. –DI 7-8 Differentiated Instruction and problem solving by group readiness Individual Accountability in group work Create a positive work environment Group work looks like, sounds like anchor charts with clear understanding of expectations Participate in work that is engaging and challenging Centennial S.S. HPEDSB Differentiating Instruction Secondary Think-Pair-Share Mathematical Questions Justify using mathematical vocabulary Learning Centres give students choice, work collaboratively and related to hands on materials and manipulatives’ based on their strengths (observe the kids first to see how they are learning Use the entry point depending on their strengths and how they learn to work towards the curriculum expectations Use of different strategies and connect using different means to demonstrate their learning Data given for Problem Solving Exit cards to demonstrate learning in a differentiated environment to take responsibility on teaching the students how they learn DI planning for kids based on grouping on kids strengths and needs.

The Launch Of Banyan Tree Hotels Marketing Essay

The Launch Of Banyan Tree Hotels Marketing Essay BTHR first saw a gap in the luxury resort market in Phuket, and sought to tap into this market with a value proposition of a premium but affordable luxury resort. Strategic brand management was thus vital. Having targeted a niche market, Banyan Tree had the first-mover advantage amongst its competitors. But it was its consistency in delivering its brand promise that led to word-of-mouth recommendations on Banyan Tree experience spreading quickly. Also, to guarantee consistency and continuity in brand building, BTHR centralised its long-term marketing strategy and even allocated marketing budget to both its consumers and wholesalers. Likewise, BTHR made an effort to maintain good relationships with the governments and local communities, which contributed to its strong brand in Asia. Within a couple of years, BTHR was awarded numerous international awards and accolades, and it effectively capitalised on these awards and accolades to build its brand equity quickly. Valuable : With its careful brand management and consistent brand delivery to its guests, brand loyalty was created. This enabled a premium charge and made international expansion possible. Moreover, its first-mover advantage made it tough for its rivals to match its success. Rare : Being the first resort to provide a luxury accommodation with romance, intimacy, privacy and rejuvenation, it managed to differentiate itself from its competitors. Furthermore, it can be seen that BTHR has the capability to build strong customer-based brand equity, as not many of its rival firms can relate to this proposition of romance and intimacy. Costly-to-imitate : It is almost impossible to emulate BTHRs brand as numerous capabilities across the value chain contributed to its success its first-mover advantage, strategic brand image/positioning, innovative and exclusive service by Banyan staff, and extensive marketing. Non-substitutable : There is no doubt that many resorts were targeting the luxury premium market, however, none of them are perfect substitutes of Banyan Tree. Likewise, the strong brand equity and human efforts BTHR had put into building it is not easily replicable. II. Innovation Resources : Product Differentiation and High Quality Service BTHRs capacity to innovate led to its ability to create product differentiation and high quality service, which kept customers returning. It differentiated its offering by being the first in Asia to adopt the concept of a non-clinical garden spa with an oriental feel. Also, BTHR placed emphasis on the interior dà ©cor and facilities of the villas to enhance the Banyan Tree experience, with each villa having a private landscaped garden and an open-air sunken bathtub. It offers a variety of spa packages and cuisines tailored to customers likings too. Additionally, Banyan Tree staff were encouraged to give innovative and exclusive service, to make sure its guests feel that they were paid special attention. Unique product offerings such as customised weddings even included a special touch of local culture. Valuable : BTHR was successful in winning the hearts of its customers as its offers them innovative and fresh experiences. This resulted in customer loyalty and word-of-mouth advertising, which generated a sustainable source of revenue. Rare : Such product differentiation and customised services were only available at BTHR. Besides, the fusion of Banyan staff experience and BTHR culture adds on to its exclusivity. Costly-to-imitate : BTHRs innovations were integrations of its culture as well as staffs expertise, making it costly for competitors to duplicate them. Non-substitutable : It is difficult for competitors to replicate the high quality and customised services offered by Banyan Tree. Moreover, the endless innovations and ideas kept its guests amazed and thrilled, making the Banyan Tree experience special and non-substitutable. III. Human Resources : In-house Management Capabilities Banyan Tree sets itself apart by having strong support of in-house management capabilities. As management capabilities are in-house, BTHR could build a resort from scratch within two years. Furthermore, all those involved shared BTHRs corporate culture, were familiar with each other, enabling flexible and rapid decision making. Moreover, with in-house design capabilities, it can tailor its design according to its value proposition of romance and intimacy. To ensure efficiency, BTHR deployed pre-fabrication methods and problems were rectified quickly. Similarly, decision-making process was also hastened by the formation of the GX Group, which consisted of the key personnel and expertise required to make decisions. Besides, local staff were given the liberty to be creative in their service to ensure there was no gap between the level of service and customers expectations. This enhances staffs sense of belonging in BTHR, which explains the low attrition rate of staff. In-house trainings ensure its staff are sufficiently skilled to provide high quality services for its targeted customers too. Valuable : Having in-house management capabilities empowers BTHR with better control over its expenses and product innovations, allowing consistent delivery of its brand promise. Its ability to build a resort faster than its competitors gives it a competitive edge too. Rare : The in-house management capability enables BTHR to control every part of its project development process. This is a rare capability as most hotel owners engage external vendors. Costly-to-imitate : Due to the large outlay of capital required for its construction capabilities and resources, it would be extremely costly for its competitors to imitate. Similarly, it is almost impossible to emulate its staff trainings as they are also conducted in-house. Non-substitutable : Eventhough some of these capabilities and resources can be outsourced, it would not be as value-adding to Banyan Tree as they would lose control of management. In conclusion, the key resources supporting the development and rise of Banyan Tree are highly interdependent. Together, the resources spurred the growth of BTHR as they enabled Banyan Tree to distinguish itself from its rivals. It is also noticed that these are intangible resources as intangibles make it more difficult for competitors to analyse and imitate.