Standard Chatered Bank (Scb) Essay Example for Free

old-hat Chatered edge (Scb) EssayStandard undertake intrust is a British argot orchestratequartered in London with operations in more than seventy countries. It operates a engagement of over 1,700 branches and outlets (including subsidiaries, associates and joint ventures) and employs 73,000 people.Despite its British base, it has few customers in the United Kingdom and 90% of its remuneration come from Asia, Africa, and the Middle East. Because the banks history is entwined with the development of the British Empire its operations lie predominantly in former British colonies, though over the past two decades it has expanded into countries that have historically had minute British influence. It aims to provide a safe regulatory bridge between these developing economies.It now focuses on consumer, corporate, and institutional banking, and on the provision of treasury goargonas in which the Group had particular strength and expertise.The peeled millennium had brought wi th it two of the largest eruditions in the history of the bank with purchase of Grind lays entrust from the ANZ Group and the acquisition of the Chase Consumer Banking operations in Hong Kong in 2000.These acquisitions demonstrate Standard hired firm is committed to the rising markets, where the Bank has a strong and earned presence and where they see their future growth.Standard Chartered BankOperation In BangladeshStandard Chartered Bank started its transmission line in Bangladesh in 1948, opening its graduation branch in the port city of Chittagong. The bank increasingly invested in people, engineering and premises as its business grew in relation to the countrys thriving economy. At present the bank has 6 offices in capital of Bangladesh Chittagong and Sylhet, including the countrys only offshore banking unit inside the Dhaka Export Processing Zone at Savar. coarse knowledge of the market and essential expertise in a wide range of financial run underline our strength to b uild business opportunities for corporate and institutional clients at home and abroad. Continuous upgrading of technology and control systems has en adaptedd the bank of offer new serve, which include unique ATMs and Phone banking. Adopting a pro-active border on, the bank is able to offer a flexible and comprehensive range of financial services in particular transactional banking products. The bank has also invested in its branches to ensure that their business is supported by high-tech operations using state of the art technology. Dedicated customer services with solution-oriented cash specialists to provide customers with cost-effective solutions. Electronic delivery system has been effect in place to give customers maximum control of their transactions.Standard Chartereds services in Bangladesh, ranges from Personal corporeal Banking to Institutional Banking, Treasury and Custodial services.Vision of Standard Chartered BankCatalyst for changeStandard Chartered Bank has a k ey role to play in stimulating economic and favorable development through the services they provide and by being a force for good. The success of their business depends on this. Standard Chartered Bank has been committed to continually improving the fictional character and scope of the services they offer to clients.Mission of Standard Chartered BankThe missions ar* To deliver excellent products and services in the emerging markets to Standard Chartereds clients. These products include trade finance services, cash management, foreign exchange and treasury products, commodity finance, and structured import and export finance services. * To be the trendsetter for innovative banking with excellence and perfection. * To be the best acting bank in the country and the region. * To exceed customer expectations through innovative financial products services and establish a strong presence to recognize sh atomic number 18holders expectations andoptimize their rewards through dedicated workforce. * Keeping ahead of former(a) competitors in productivity and profitability. To attain budgetary targets fixed in each area of business aim of Standard Chartered BankStandard Chartered Bank one of the worlds star international banks and their stopping point is to lead the way in Asia, Africa and the Middle East. They are dedicated to implementing the highest standards of corporate constitution and gaining trust in each of the countries in which they conduct business. Like other business disposal the summation desire of Standard Chartered Bank is to maximize the profit through banking activities saving lending cash to the life of the common people.The Objectives of the Standard Chartered Bank is given belowBroad terminalAs a commercial organization, Standard Chartered Bank implies that it stands for get together the banking needs of the people of the society. Operating GoalIn compliance with the very nature of the organization, the objective in mind the bank aims a t excelling quality and diversified services. To fulfill its mission Standard Chartered Bank has its main objectives as followings* To provide banking services to people.* To earn profit.* Act as a media of exchange.* To contribute to gross domestic product (GDP).* Maintain a satisfactory deposit mix.* To help to grow entrepreneurship.* Increase loan portfolio diversification and geographical coverage.* To mitigate unemployment problem.* tin finance specialized services to the export.* To help to boost economic development.Service Attitudes* Standard Chartered Bank is a service organization. It lives and prospers on the quality of service it provides. So quality of service is maintained at all levels.* Banks image with people is identified on the quality and diversity of services that the people calculate to receive.* As a dynamic bank they always remain in search of new dramaturgy of activity in line with people economic need. Suggestions by customers and other people are interp reted in to proper attention so as to help identify new activity or improve upon present activities.* The bank maintains healthy competition with other banks aiming at excelling services in meeting economic needs of the people.OrganogramOrganizational Structure Organizing is the management function that involves the process of determining what task are to be done, who is to do them, how the task are to be grouped who reports to whom and where decisions are to be made. Organizing is the process of creating an organizations structure. Organizational structure is the formal framework by which job task are divided, grouped and coordinated. Hierarchy of Standard Chartered BankAdministrationsLoan Administration divisionLoan Sanction plane sectionHuman Resource DepartmentOperationsInvestment TreasuryInternal DivisionHead representation DepartmentalizationCorporate Banking DepartmentCEOAudit InspectionITFinanceAccountsForeign TradeAdministrationsFinanceIT sleeve DepartmentalizationCor porate Banking DepartmentLoan Sanction DepartmentForeign TradeLoan Administration Department severalize ManagerOperationsThe policy direction and overall management of the Bank is vested upon the Board of Directors consisting of sixsome members. The Chief Executive of the Bank is one of the members of the Board of Directors.Regional Manager and Divisional Head serve up Chief Executive Officer. Head Office Divisions are headed by Departmental heads and controlled by designated ordinary Managers. Branch Offices by Branch Managers, depending on size and importance of the Branch from the commercial point of view, Deputy General Managers or Assistant General Managers heads the Corporate Branches and AD Branches.The organizational structure is the way in which organizations activitiesare divided, organized and co-organized. The design of the organizations structure stinker be traditional design like simple, functional and divisional or existing organizational designs like team-based, matrix etc. From the structure of the Standard Chartered Bank we see that it is mostly functional because some part are organized around the functions of operation, credit, international division, clement resource etc. and these divisions are related with each other for conducting the activities.It can also be considered as partly regional because some management functions are divided on the dry land of territory. Each regional circle conducts same activities generally that are decided but in some situation head of the regional office takes decisions. So we can perceive that it has traditional structural design.Moreover, it has clear chain of play where the level of authority goes from top to bottom and very much centralized.Performance AppraisalOfStandard Chartered BankSince organization exist to achieve goals, the degree of success that case-by-case employees have in gain their individuals goals is important in determining organizational effectiveness. The assessment of how su ccessful employees have been at meeting their individual goals, therefore, becomes a critical part of HRM. Here we provided how Standard Chartered appraised their employees functioning.Why Standard Chartered evaluates the performance of its Employees? Standard Chartered Appraises the performances of its employees for three reasons they are * First, it can be used promote their employees and to stage for their various training programs if they require for enhancing their skills in their respective areas and in contribution enhancement.* Second, as a basis for reward allocations. Decisions to decide who getssalary increases, and other rewards are determined by their performance evaluation.* Finally the performance appraisal can be used as a criterion against which selection devices and development programs are validated. It is one thing to say, for example, that their selection process is successful in differentiating satisfactory performers from unsatisfactory performers.Appraisal regularityused byStandard Chartered BankEmployees are evaluated by how well they accomplish a specific set of objectives that have been determined to be critical in the successful completion of their job. This approach is frequently referred to as. Management by objectives. Management by objectives is a process that converts organization objectives into individual objectives. It can be thought of as consisting of four steps goal setting, action planning, self- control, and periodic reviews. In goal setting, the organizations overall objectives are used as guidelines from which departmental and individual objectives are set. In action planning, the essence are determined for achieving the ends established in goal setting. That is, realistic plans are developed to attain the objectives.