A Pest Analysis Of Hsbc Bank Finance Essay

A Pest Analysis Of Hsbc Bank Finance Essay The political instability that the country has suffered throughout history and still has not only affected the general conditions of Pakistan but also the foreign investors and multinational countries. Though HSBC is a foreign bank and the reporting line is in Middle East and London but the political conditions in the country affects its activities to quite an extent as ultimately the State Bank of Pakistan supervises all the activities of all local and foreign banks. As a result of the political instability, the international investors hesitate keeping their money as they are afraid of frauds and the culture of Pakistan as it is popular for its bad and unorganized trends. (Zaidi, A., 2009. Issues In Pakistan Economy. 2nd ed. Karachi: Oxford University Press.) Economical Factors: Since the world economy is moving towards a recession, so Pakistan is no exception to the economic instability and uncertainty. The GDP growth in 2007 was the fastest in Asia i.e. 7 % and was lead by growth in consumption and investments. National savings rose only slightly, indicating the slow growth in bank deposits and is low by International standards. The causes of low savings have been the low per capita income, high dependency ratio, urbanization, lack of proper infrastructure in rural areas and inflation leading to rise in prices. Inflation is high due to high food prices which offset the demand management policies and the government subsidy on oil prices. As a result of high inflation, poverty is high and the productive capacity is stressed. In the year 2007 the services sector grew by 8% with high profit recorded and an overall contribution of over 50 % in the GDP. Monetary policy was tightened but inflation was still on the rise. The expansionary fiscal policy led to central bank borrowing and concessional finance for exports and textiles. Monetary growth was accelerated due to surge in external receipts. Monetary tightening was necessary given the exceptional growth in the money supply aggregating 19.2 % percent growth that was much higher than target of 5.3 %. This growth in money supply was due to excessive government borrowings, sharp rise in NFA due to external financing of deficit through Euro Bonds, US aid and multilateral loans. The State Bank of Pakistan raised the discount rate by 50 points to 9.5 %, SBP also drained excess liquidity from inter bank market and maintained overnight rates close to discount rates. As a result the interest rates rose and this impacted the loan quality, stringent provisioning requirements, increased capital requirements, the NPL ratio to loans declined. Liquid market for short term government papers exist, but long term debt instruments need to be developed. (Zaidi, A., 2009. Issues In Pakistan Economy. 2nd ed. Karachi: Oxford University Press.) Social Factors: Since the rise in prices, the general public has become conscious towards their spendings and is facing a decrease in their disposable income. They are saving less and as a result the growth in the bank deposits has slowed down. Due to the political, economical and law order situation being very uncertain, there is lack of trust found in the people of Pakistan on the financial institutions. Another aspect that adds to it is that people are less educated and unaware of how system works so rumors create great panic that result in problems in financial sector, hence affects HSBC also. (Zaidi, A., 2009. Issues In Pakistan Economy. 2nd ed. Karachi: Oxford University Press.) Technological Factors: With the advancement in technology and the increase of its usage, it has created many opportunities to all kinds of industries. There are now automated teller machines that have replace the conventional tellers, the whole banking systems have been automated assuring transparency in the system as a result of which the trust of the consumer has been gained. The internet technology has provided new avenues to work as online banking system is a common phenomenon in the west and is gaining popularity in Pakistan too. Many mobile and telecom companies are collaborating with the bank to reach out to the customers even more efficiently and conveniently. This has raised the level of the competition thus raising the pressures to compete in unique ways to add value. (Zaidi, A., 2009. Issues In Pakistan Economy. 2nd ed. Karachi: Oxford University Press.) Law Order: The instability of the legal system and lack of freedom of the judiciary has impaired the growth of the economy as investments have slowed down. The law and order situation has become from bad to worse. The potential foreign investors have backed out and those who have already invested face threats and insecurity. The recent past is filled with the bomb blasts and attacks on foreigners and since HSBC is a foreign bank, it too has been threatened and still faces fears. Recently the government of Pakistan has enforced a law pertaining micro-financing. This law suggests that all banks must have at least three of its branches in each rural sector. (Zaidi, A., 2009. Issues In Pakistan Economy. 2nd ed. Karachi: Oxford University Press.) Industrial Analysis General Driving Force Influencing the Industry: Size Scope: The overall size of the banking sector has reached Rs 5.0 trillion by end of the fiscal year 2007. Since HSBC has only recently entered the market, its current market share is approximately around a 2-3% of the total market. The scope of the banking industry is currently limited to only a few segments that are being targeted, and that are the consumer market, the corporate segment and the small and medium enterprises. Many other segments, such as segments based on demographics, age, gender etc. exist and can be targeted upon thus increasing the scope of activities. Currently the banking sector provide facilities of deposit, with drawl, lockers, ATMà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢s, issuance of pay orders, demand drafts, transfer funds between accounts, issuance of cheque books, credit card facilities, loans account, online services, currency exchanges.( Hussain, I., 2009 Banking Sector in Pakistan. Dawn. 29 April, p.7) Influences: There has been more than two-fold increase in the loan portfolio in the past three years, which is considered to be high. Even though this strong expansion is accompanied with diversification across sectors as banks have ventured into relatively new areas like mortgage financing, lease finance, project financing (traditional business areas of non-bank financial institutions), aggressive lending tendencies have implications for the asset quality of the banking sector. While on-going mergers and acquisitions are aiding the process of consolidation of the banking sector, the resulting ownership structure is posing new challenges for the regulators and supervisors. Specifically, cross ownership à ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ where banks own non-bank financial subsidiaries and associated companies, industrial and brokerage companies own banks etc., has increased the complexities of the banking sector. Similarly, cross border ownership of the banking sector involve home-host regulatory and supervisory issues. Effective supervision in this environment requires a strong coordinated supervisory mechanism and strong interface with other supervisory/regulatory agencies. Fortunately, none of the above issues poses a significant threat to the stability of banking sector in the current environment. The deceleration in credit growth and the growing emphasis on internal control and risk management systems will serve to enhance banking sector stability in the future. The on-going mergers acquisitions and increased minimum capital requirements are expected to play a key role in improving the stability of banking sector. .( Hussain, I., 2009 Banking Sector in Pakistan. Dawn. 29 April, p.7) The money supply and the aggregate demand of the economy are great influences that affect the banking sector. With the increase in the aggregate demand in the previous years that took place as a result of the consumption driven economic policies of the government, the demand for money in the whole system increased. Therefore the money supply increased. This resulted into a high inflation rate and increase in the prices. As a counter result the interest rates decreased, thus allowing the investors to borrow at low interest rate. Thus borrowings increased and deposits decreased. .( Hussain, I., 2009 Banking Sector in Pakistan. Dawn. 29 April, p.7) Porterà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢s Five Forces Bargaining Power of Customers: Bargaining power of customers is relatively high, as switching costs are low for customers to leave HSBC and gain banking services from other banks. Foreign banks like Royal Bank of Scotland, Barclays etc have entered the market and thus add to the local banks thus serving as the current competitors. .( Hussain, I., 2009 Banking Sector in Pakistan. Dawn. 29 April, p.7) Competitive Rivalry: Foreign banks are the direct competitors of HSBC that are striving for the same market share and customers. In addition, local banks have a long-term trust relationship with their customers, which still provide them an edge. The banks that are practicing Islamic banking in the Islamic State of Pakistan are the potential competitors. Since polarity in the country is increasing, the middle class segment is vanishing leaving only a hand full of the upper class and upper middle class segment to target. This segment too has now options of other multi nationals and can switch to them at any time. With a nicheà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢ segment that is being targeted it is becoming tougher to fight for market share and customer retention. .( Hussain, I., 2009 Banking Sector in Pakistan. Dawn. 29 April, p.7) The local banks are fast to imitate and since the banking system is a very transparent one, imitation is easy, thus increasing the fight between the competitors. They are trying to capture the upper middle and the middle-middle class segment that are currently the customers of the multi national banks. With their relatively low interest rates charged to the customers and higher interest payback rates compare to HSBC, they are strong threats as they have extremely lowered the switching costs to the customers. .( Hussain, I., 2009 Banking Sector in Pakistan. Dawn. 29 April, p.7) Bargaining Power of Suppliers: Since the company is a financial institution, its supply is the money supply, that is supplied by the State Bank of Pakistan. Therefore, being the sole provider and supplier, its bargaining power is extremely high. The State Bank of Pakistan often imposes various restrictions on banks. Therefore, none of the banks are independent in policy making and cannot launch any product without prior permission of the State Bank of Pakistan. The banking history is replete with the examples that either Government of Pakistan or the State Bank of Pakistan puts ban on the marketability of the most successful products. All banks are restrained to independence in making their policies provided that they are not against the law and Islamic values. .( Hussain, I., 2009 Banking Sector in Pakistan. Dawn. 29 April, p.7) Substitutes: There are not many substitutes available. Those that are, are the share in the stock market and the government schemes such as the National Saving Schemes. The NSS is on a decline as these saving instruments are to their maturity and the customers have lost interest in them. The government has not been able to come up with any innovative saving schemes to attract the general public, therefore reducing the threat to of the substitutes to the banking industry. .( Hussain, I., 2009 Banking Sector in Pakistan. Dawn. 29 April, p.7) The Customer Analysis: The customers are segmented on the basis of traditional segmentation of the income levels. The high end of the segments, that is the upper middle and the upper elite class customers are not price sensitive and are willing to take high risks to earn high returns. They focus more on long term gains and are inclined towards making huge investments. They expect and demand superior customer services and consultancy required for their businesses and investments. One of their unfulfilled needs is the demand for customized and personalized business consultancies along with portfolio management consultancy and wealth management services.The lower end of the segment is more focused towards saving and small investments after careful analysis of the financial situation. They make short term plans and investments. The long term investments that they make are mostly the pension saving schemes or life insurances to safeguard their future income. They require good customer services but do not expect a first class treatment. .( Hussain, I., 2009 Banking Sector in Pakistan. Dawn. 29 April, p.7) Industry Life Cycle: The Banking Sector in Pakistan has emerged in its present form after passing through various stages of development in the last fifty years. At the time of independence, the new country had no bank of its own and commercial banking facilities were almost minimal and very outdated. With the creation of the country, the Habib Group brought over its entire set up to Pakistan and banking operation started. The State Bank of Pakistan was established through an Act on July 1, 1948 which marked the beginning of banking sector in Pakistan. In 1974, all the local banks in Pakistan were nationalized. Nowadays, the world is going through a financial crunch due to the economic recession in US Economy, therefore the prevailing boom in the banking industry has been affected too. In the local market though there are many unfulfilled gaps in the banking sector, with the current products and services that are being offered, the banking sector is saturated, with a number of foreign banks and many local one too. The banking sector is thus at its maturity stage, with instability and financial crunch effecting its processes at present. .( Hussain, I., 2009 Banking Sector in Pakistan. Dawn. 29 April, p.7)

Adam De La Halle And Ars Antiqua Time Period :: essays research papers

Adam De La Halle and Ars Antiqua Time Period Life Summary Adam de la Halle is often referred to as the greatest of the long succession of post Medieval musicians. He was a poet, musician and innovator of the earliest French theater. He became famous for his use of polyphony and his theatrical productions. Adam originally trained for the clergy (the people of the church). Marriage interfered with his musical career; but with the help of some noble benefactors he was able to pursue musical studies at the University of Paris. The remainder of his life was spent in service of noble patrons. His Music Adam de la Halle was of French origins. All of his lyrics were written in French. Much of his early music was monophonic which shortly after became homophonic and then transformed into polyphonic. Much of his polyphonic work was set for 3 voices or instruments. If a piece of music is monophonic, then it has only a melody line and no harmony. Much of the medieval music was monophonic. If the music is homophonic then there is only one melody line, but it may be played by two or more instruments. Many of the songs that were originally monophonic were easily transformed into homophonic by add extra voices or instruments. Polyphonic is the type of music we hear today. Polyphonic is when there is a melody line accompanied by harmony. A considerable amount of Adam de la Halle's polyphonic work was designed for plays. One of Adam's manuscripts contains the oldest known existence of the sharp sign. In 1872 his music was officially published. Ars Antiqua Time Period Ars Antiqua is Medieval Latin for "ancient art". Ars Antiqua was the period of musical activity in 13th century France. The music was characterized by the increasing sophistication of counterpoint (the art of combining simultaneous voice parts). Modern music historians classify the whole 13th century as Ars Antiqua where as older historians classified only the later half of the 13th century as Ars Antiqua. This was the time period when music started to become more formal. In this time period, musical plays were just becoming popular and in 1283 one of the first operas was performed. Most of the music of the Ars Antiqua time period is anonymous. Two important figures stand out among the anonymity. PÃ ©rotin, who became famous in the late 12th century, composed the earliest known music for four voices. Franco of Cologne, who flourished in the middle of the 13th century, was a theorist who organized a new, more precise system of rhythmic notation, the direct ancestor

Comparison and Analysis Essay

Both characters show traces of mental instability; Blanche perhaps more-so than Eddie, as throughout the play there are constant reminders to the audience that Blanche’s already feeble mental state is deteriorating. For example, when Blanche recalls the death of her ‘young husband’, Tennessee Williams cleverly has the music of the ‘Vasouviana Polka’ playing in the background, which increases in pace and volume the more distressed and erratic Blanche becomes. However, Eddie’s aberration is present much more subtly than Blanche’s,; Arthur Miller gives us hints that he does not see the world normally, which are extremely evident in the way he speaks and reacts with the character of Catherine. This is present in chapter 1, when Eddie expresses his resentment of other men looking at her, â€Å"Katie you are walkin’ wavy! I don’t like the looks they’re givin’ you†, despite her being 17 years old he tries to shield her from other men. His affection towards Catherine is undoubtedly not how it should be, and throughout the play Eddie suppresses these feelings and urges as he is very much consumed in his own mind and does not fully acknowledge this until Beatrice clearly articulates his desires in the conclusion of the play by saying â€Å"You want somethin’ else, Eddie, and you can never have her! â€Å". In both cases, most of the tension the characters create is due to their naivety towards their unusual relationships; both characters have abstruse attractions towards people who are not family members by blood, but through other means. (Catherine, Eddie’s wife’s late sister’s daughter and Stanley, Blanche’s sister’s husband). Like Eddie, Blanche daintily drops hints that she is interested in her sister’s husband although at the start of the play we dismiss this as Blanche’s usual behavior as she has a tendency to flirt with anyone/everyone she comes across. The virility of Stanley’s character allows him to see  straight through Blanche’s poised and false exterior, which means that he has very little respect for her, this is clearly shown by his actions towards her throughout the play and this leads to a highly charged atmosphere between the two of them, (and also between Stanley and Stella as she is aware of his complete disapproval of her sister, hereby creating great drama). For example, at the start of scene two, Stella and Stanley have an argument about Blanche which ends in Stanley asserting his authority by saying ‘You’re damn tootin’ I’m going to stay here’. Later in scene two Stanley acts upon his intuition and rifles through Blanche’s trunk which contains all her personal belongings clearly indicating his lack of respect for her possessions. Williams creates great tension between Blanche and Stanley during the play as, although there is hostility, I feel it contributes to the sexual tension felt between them; for example Stanleys ‘request’ when he says â€Å"My clothes’re stickin’ to me. Do you mind if I make myself comfortable? (He starts to remove his shirt)† reveals the sexual tension between Stanley and Blanche when they first meet and indicates that sexuality is a core part of his personality. He is portrayed as a sexual character from the beginning, whereas Blanche attempts to hide this side of her, however this in itself somehow subtly emphasises her true nature. Blanche is equally forward in the scene when she changes clothes in the bedroom which is only separated by drapes, she asks â€Å"Excuse me while I slip on my pretty new dress!! † and â€Å"Many thanks! Now the buttons†. Blanche purposefully flirts with Stanley and she wants him to get close to her, especially when asking him to do up the buttons. These various subtle and intimate moments work in unison to indicate the contrasts and similarities between Stanley and Blanche, which combine to create heightened sexual tension. Ultimately as they are both strong characters, one of the two has to come out a victor of their rivalry. Stanley is strong but Blanche successfully establishes a foothold in his house during the first third of the play and even shames him into acting somewhat ‘sheepishly’ by the end of scene one. However, Blanche’s ascendancy does not last long and eventually we see Stanley regain his primitive masculine supremacy. This then progresses towards the end of the play, to complete lack of respect for Blanche herself, as in scene ten a drunk Stanley rapes her while her sister is in hospital; an unpleasant ‘victory’ over a weakened Blanche is the very peak of tension between the two. The main tension experienced in â€Å"A View from the Bridge† is due to the great contrast between how Eddie sees Catherine, and how she sees him. In Eddie’s world, he imagines protecting Catherine from marriage or any male relationship and wants her for himself. While Eddie wavers and switches between communal and state laws and cultures to discriminate against Rodolpho, his motivations do not change, regardless of the fact it is often at the expense of others. Throughout the play, Miller creates uncomfortable situations for the reader/viewer, caused by the emergence of Eddie’s unusual ‘love’ for Catherine. This is shown in particular in act one, when Catherine lights Eddie’s cigar in the living room, it is an event that gives Eddie unusual pleasure, as he then longingly ‘stands looking towards the kitchen for a moment’. This would normally be an innocent and loving gesture from a niece to her uncle, however due to the fact that the audience is aware of Eddie’s feelings about Catherine, the situation becomes uncomfortable, possibly bearing phallic connotations. Depending on interpretation by the actors and by the readers, this moment in the play may have more or less sexual undertones, heightening the tension gradually, with each intimate encounter between the two. Eddie pays great attention to Catherine, which often corresponds with his impotence in his own relationship with Beatrice; in scene one she confronts him asking ‘When am I going to be a wife again, Eddie? ’, which can either be interpreted as a delicate way to address the sensitive subject of their non-existent sex life, or as a way of subtly and bitterly trying to make him see how he is behaving. Later on she also says â€Å"You going to leave her (Catherine) alone? Or you gonna drive me crazy?  Ã¢â‚¬  she says this after Eddie has just argued with Catherine in the street over Rodolpho; it is another way of her trying to tell him what he needs to hear. Until the end of the play, the other characters are aware of Eddie’s feelings towards Catherine, he seems unable to understand them himself. â€Å"A View From the Bridge† uses the character of Alfieri as a narrator which also acts as a chorus, giving us brief but ambiguous insights into what is going to happen later on in the play; this is a theatrical technique that originated in Athens during its time as the theatrical capital of the western world. The scenes would be broken up by interjections from the chorus, which often would comment on the action of the story and express their sorrow and mourning for the tragic events; however Alfieri does not so much show his sadness but on several occasions comments on how dreadful everything that happens is, even ending the play by telling the audience that he ‘mourns’ for Eddie (with a certain alarm). In both plays, the tension caused by the characters of Blanche and Eddie is often increased by the implication that although they are members of the family, there is no longer a place for them. In â€Å"A Streetcar Named Desire†, there is no place for Blanche in Stella and Stanley’s relationship, the lack of space in their house and cramped atmosphere accurately reflects her imposition on their lives; creating an intense atmosphere (especially due to the face that there is only a set of ‘drapes’ separating Blanche from Stanley when either he or she is changing). Eddie, on the other hand, has been forced to appear an outsider in his own home, due to the presence of the illegal immigrants Rodolpho and Marco. However, the real issue Williams wants the audience to concentrate on, is that there is no longer a place for Eddie in his beloved Catherine’s life; as she is growing up, she becomes less reliant on support from Eddie and if anything his harsh attitudes towards letting her have freedom push him further away from her, making him even less a part of his life as she resents him for it. Unlike Blanche, Eddie does not begin the story as an outsider; the progression of his obsessions throughout the play lead to him becoming more and more distanced from those closer to him (Beatrice and Catherine); and eventually he loses his place in the family entirely. This happens when Catherine tells him she is going to move out with Rodolpho, which sends Eddie over the edge. This idea of Blanche’s intrusion relates to her being described as â€Å"the villain of the piece† by George Marotous, an online critic; however, I personally disagree with this statement. Blanche’s actions before her visit to Stella were not in any way malicious, and due to the death of her young husband, her mental state was already unfavourable, which lead her to make unwise decisions and behave in a way that was not appropriate. Some of her actions whilst at Stella and Stanley’s house were indeed often rude and unsuitable, flirtatious and imposing; however, this was perhaps due to the effect that losing Belle Reve had on her. Blanche’s attitude is represented by the point in which she says ‘Deliberate cruelty is not forgivable! It is the one unforgivable thing, in my opinion, and the one thing of which I have never, never been guilty’. I believe that it is a more fitting title for the character of Eddie from â€Å"A View From the Bridge†; as although his erratic behaviour is due to him wanting the best for Catherine, his actions become malicious as his need for control increases. The main example of this is when Eddie calls Immigration in order to have Rodolpho and Marco sent back to Italy, so that Rodolpho can no longer take Catherine away from him. One of the most impacting moments in this scene in act two, is when Beatrice asks Eddie ‘My God, what did you do? ’ as the stage directions go from ‘[weakened with fear]’ to ‘[-her final thrust is to turn towards him instead of running from him]’. This creates great tension, as it is the moment in which she realises that it was Eddie who called Immigration; it highlights his enormous change in character and is the point in the play at which we acknowledge that there will be no happy ending (at least, not for Eddie). However, in both the cases of Blanche and Eddie, it is not their desire to be spiteful or to cause others harm that leads them to their misfortunes; for Blanche it is the loss of her young husband and home, and for Eddie the unrequited love of his niece Catherine. The element of sexuality in both plays heightens the tension dramatically and is one of the main factors contributing to their demises and the consequences of this incite them to behave inappropriately. Out of all of the characters in both plays, the endings of Eddie and Blanche are the most distressing; however, they are not at all surprising. This is represented by the last line of â€Å"A View from the Bridge† said by the narrator, Alfieri, ‘And so I mourn him – I admit it – with a certain†¦ alarm. ’.

Film Adaptations Of Stieg Larsson s Man - 1096 Words

In both film adaptations of Stieg Larsson’s MÃ ¤n Som Hatar Kvinnor (Men Who Hate Women), the 2009 Swedish film directed by Niels Arden Oplev , and the 2011 American version, renamed The Girl with the Dragon Tattoo , directed by David Fincher, the two principle characters only meet halfway through the film. For a significant portion of the movie, they interact only by spying on each other. As a film that addresses differences between male and female interactions, the presence of a male or female protagonist is important for the viewer’s understanding. Though almost equal presences on screen, the perspectives from which the film is told vary between the two adaptations. The notion of perspective is shown clearly in a revenge scene in the beginning of the film. As the scene begins, Lisbeth Salander, the main female character in both films, has secretly recorded her rape at the hands of her guardian, Bjurman. She goes to his apartment and ties him up before assaulting him in revenge. After doing this, she shows him the video that she had secretly recorded of her assault during the previous visit. The two scenes of Bjurman watching her video differ between the American and Swedish films. In Oplev’s film, the video is presented from Salander’s perspective. The viewer sees Bjurman opening the door from Salander’s perspective as she faces him but the frame is shortened so his head is not visible. Oplev pans down from the video screen to Salander’s head as she talks to Bjurman. He