Observation Of A Local Outdoor Park - 938 Words

Observation of Setting: The setting of my observation 2 took place in a local outdoor park. It was a new park that opened maybe a few months ago down the street from my house, and you could easily tell that it was catered towards the younger age group due to the safety mechanisms and the big, bright, and colorful designs. I chose to observe the same child as I did last time, 3 year old Emmanuel. The observation took place around the same time as observation 1, which is basically after his mother got off work and picked him up for school. However, instead of observing little Emmanuel alone by himself, I was able to observe him play in a group setting. Ironically, at the park there were about three other children his age playing, a 1 year old who looked liked he was just learning to walk and struggling, an older child who looked as if she was about 6 or 7 years old, and then the parents surrounding the edge of the park. It was interesting to watch Emmanuel so cooperatively go with his mom, walk out the door, and pretty much just follow the rules of what she wanted. He could obviously tell from her actions that they were about to leave the house to go somewhere. It was as if he didn’t really care; all he knew is that if mom goes then I have to go and I have learned that’s the way it is. At that moment he knew she was in control. So I would say his attitude was very nonchalant. Then as we walked down the street with me talking to his mom and her holding his hand, somethingShow MoreRelatedTaking a Look at Therapeutic Recreation for Adolescents1286 Words   |  5 Pages(2013). Dog Parks: Benefits, Conflicts, and Suggestions. Journal Of Park Recreation Administration, 31(4), 79-91 The purpose of this article is to provide an introduction to dog park development and the benefits they provide for the community. 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I want to interact with the locals, sit down and enjoy a meal with them, see what they do for fun. Why travel half way across the world to do the same things you would do at home? I want to make friends andRead MoreMarina Bay Sands Essay1039 Words   |  5 Pagescasino and gaming. Not only did the Project boost Singapore’s economy and tourism but has also created an attraction and entertainment destination for locals. Table of Contents 1.Synopsis 1 2.Introduction 3 3.Procedure 3 3.1 Location of the marina bay sands 3 3.2 Construction 3 Constructing the observation Deck 4 3.3 Hotel 5 Accommodation 5 Museum 5 3.4 Entertainment and attractions 6 SkyPark 6 Sands Theater 7 Shopping and Restaurants 7 4. ConclusionRead MoreThe Importance Of Nature For Youth Development1892 Words   |  8 Pagesthat are overly focused on abstract cognition at the expense of emotion, movement, and other processes rooted in body-environment interactions. 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Traffic Jam in Dhaka City Free Essays

EXAMINATION OF PROFITABILITY IN THE CONTEXT OF BANGLADESH BANKING INDUSTRY Nadim Jahangir’, Shubhankar Shill2 and Md. Amlan Jahid Haque3 Abstract Loans are the riskiest asset of a bank, but these loans play a pivotal role in banks’ profitability. Banks ‘profitability depends on the results of some parameters and among them Bank b Return on Equity, Market Size, Market Concentration Index, and Bank RiskMeasure are widely used and the same are investigated in the Bangladesh Banking Industry in this study for a period of the last six years. We will write a custom essay sample on Traffic Jam in Dhaka City or any similar topic only for you Order Now The data comes from the annual reports of individual banks listed in Dhaka Stock Exchange (DSE) and from the Bangladesh bankb published statistics book (Scheduled Banks Statistics). Correlation matrix and stepwise regression have been used for the purpose of data analysis. The analysisfinds that market concentration and bank b risk do little to explain bank b return on equity, whereas bankb market size is the only variable providing an explanation for banks return on equity in the context of Bangladesh. Introduction The tmhtional measure ofprofitabilitythrough stockholder’s equity is quite different in banking industry ffom any other sector ofbusiness, where loan-to-deposit ratio works as a very good ndicator ofbanks’ profitabiJity as it depicts the status of asset-liabilitymanagement ofbanks. But banks’ risk is not only associated with this asset- liability management but also related to growth opportunity. Smooth growth insures higher future returns to holders and there lies the profitability which means not only current profits but future returns as well. So, market size and market concentration index along with return to equity and loan-to-deposit ratio seize the attention of analyzing the banks’ profitability. The banking industry of Bangladesh is a mixed one comprising nationalized, private and foreign ommercial banks. Many efforts have been made to explain the performance of these banks. Understanding the performance ofbanks requires knowledge about the profitability and the relationshps between variables like market size, bank’s risk and bank’s market size with profitability. Indeed, the performance evaluation of commercial banks is especially important today because of the fierce competition. The banking (1) Dr. Nadim Jahangir (Associate Professor) holds a Ph. D. in Management from Australian Catholic University and now is teachmg in the Independent University of Bangladesh. (2) Shubhankar Shill (Lecturer) holds Master degree in Finance from Dhaka University (Bangladesh) and now is teaching in the School of Business, Independent University of Bangladesh. (3) Md. Arnlan Jahid Haque (Lecturer) holds a Master degree in Management from Rajshahi University (Bangladesh) and now is teaching in the School of Business, Independent University of Bangladesh. 36 ABAC Journal Vol. 27, No. 2 (May – August, 2007, pp. 36 – 46) Examination of PI .ofitability in the Context ofBangladesh Banking Indusqr industry is experiencing major transition for the last two decades. It is becoming imperative for banks to endure the pressure arising from oth internal and external factors and prove to be profitable. Until early 1985, Bangladesh had a highlyrepressed financial sector (Chowhdury, 2002). Banks and other financial institutions were fully owned by the government. In the early part of 1980, Bangladesh entered into the IMF and World Bank adjustment programs and the process of privatization and liberalization gained momentum under the influence ofthe World Bank and the IMF. Sinc e then the banking industry of Bangladesh has become an attractive ground for both domestic and foreign investors to take part in the game. It is of utmost importance that these layers prove themselves profitable. Andrews (1975) noted that it is essential to understand the strategies to achieve greater profitability. In line with this, the current study makes an effort to unearth those pillars which are major constituents of strategies and goals. This paper intends to analyze the importance of internal and external factors for banks return on equity. Specifically, the purpose of the study is to closely examine the relationships of bank’s market concentration, market size, and bank’s risk with return on equity. The intention is to decide which amongst the potential determinants appear to be mportant. Hassan, Khan, and Haque, (1 995) previously examined banks’ profitability considering monetary affect and concentration in context of Bangladesh. However Fraser, Phi lips, and Rose (1974) stated that performance of commercial banks should not be measured by a single proxy but by a set of variables which are jointly determined by market structure, demand, and other factors. Therefore, the current study aims to propose and examine a framework incorporating bank’s market concentration, bank’s market size, bank’s risk, and identify the relationships of these variables with bank’s return on equity in context f Bangladesh. Literature Review Market Size Cravens (2000) elaborated that, market size is usually measured by currency, sales andlor unit sales for any product market and also in specified time period other size measurement include the number of buyers’ average purchase quantity, frequency of purchase for any product oriented market. As a result the key measures of market size are market potential, sales forecast, and market share. In another study on banking reformation Thorsten and Ross (2002) measured the ma rket size ofbanks against the GDP and to measure bank size, Thorsten and Ross (2002) used bank credit to he private sector as a share of GDP. Demirguc-Kunt and Maksimovic (2002) suggested that the extent to whichvarious financial, legal, and other factors (e. g. corruption) affect bank profitability is closely linked to size. In addition, as Short (1 979) argued, size is closely related to the capital adequacy of a bank since relatively banks tend to raise less expensive capital and, hence, appear more profitable. Luthria and Dhar (2005) defined market size as the scale of economic activity over which agents can contact. They tried to measure market size or space by national borders. Large space creates the potential or reaping economies of scale and the scope for specialization as well. It requires specific investments in physical and human capital, as well as marketing channels, constrained by slow- moving economic activity. Market Concentration The concentration aspect is particu larly important for the transition economies and it has been very commonly used as the measurement of Nadim Jrrhangir. Shubhankar ShiN and 1Mn. Amlan Jahid Haque profitability ofbanlung industry. Atbanasoglou, Brissims, and Delis (2005) argue that banking systems are highly concentrated, with little separation between central and commercial banking ctivities in order to facilitate the banks’ role in the planning process. Ahighly concentrated banking sector results in market power for the banks. As opposed to perfect competition, banks having monopoly power would lead to an equilibrium characterized by higher loan costs and a smaller quantity of loanable hnds (Cetorelli Gambera, 2001). According to Alzaidanin (2003) when a large share of the business of a given industry is controlled by few large firms or concentrated in a few pockets the situation is usually termed as a slate ofconcentration. However, Deidda and Fattouh (2002) showed theoretically as well as mpirically that the relationship between banking concentration and return on equity depended on the level of economic development. More specifically, banking concentration had an adverse impact on return on equity only in low income countries. For high income countries, there was no significant effect between the two variables. Additionally, Beck, Maksimovic, and Vojislav (2003) found that this effect is especially strong if a state has a weak legal system, high level ofcorruption and a low level ofeconomic and financial development. Since these factors are true for at least some of the economies under consideration, ne would expect low banking concentration to foster return on equity. Bank Risk According to Allen (1 997), banks tend to focus on areas where they believe they have a comparative advantage to maximize efficiency in making loans. This approach makes banks give attention to geographic, industry specific demographics, and other market characteristics to operate. Calomiris and Karceski (1 998) noted that diversification and different levels ofriskyness is the result ofdifferences across banks in the scale oftheir operations. As economic conditions vary across different regions and industrial sectors, therefore ank riskyness and return on equity also vary across different regions. Gerlach, Peng, and Shu (2004) took a different approach in defining Banks’ risk. Poor management qualities in inefficient institutions have a tendency to cany higher risk (credit risk, operating risk, liquidity). The credit risk on any individual loan can be broken down into two components, the probability that the borrower will default, and the losses incurred in the event ofdefault. In an earlier study on asset quality of commercial banks Stafon (2000) found that bank return on equity driven mainly by changes in Net Interest Margins NIMs) and loan provision which in turn were determined by asset quality. However, Greusning and Bratanovic (2003) revealed that return on equity is a revealing indicator of a bank’s competitive position in banking markets and of the quality of its management. The authors further elaborated that the income statement ofa bank is a key source of information on a bank’s return on equity, reveals the sources ofa bank’s earning and their quantity and quality as well as the quality of the bank’s loan portfolio and the focus of its expenditures. Relationship between market concentration and banks ‘return on ecjuitv The mpirical findings on the relationship between market concentration and return on equity are as diverse as the theoretical underpinnings. Parsley and Wei (1 985) found that young firrns in concentrated markets receive more credits than in competitive markets, with no difference for older firms, which results in a positive effect on return on equity. In contrast, Examination of Profitability in the Context of Bangladesh Banking Indust, Cetorelli and Gambera (2001) concluded that banking conc entration leads to an overall depressing effect on return on equity. The authors suggest that increased competition (thus less oncentration) causes a rise in entrepreneurship and thus a higher rate of new firm creation. Very convincing is the recent work of Deidda and Fattouh (2002) showing theoretically as well as empirically that the relationship between banking concentration and return on equity depends on the level of economic development. More specifically, banking concentration has an adverse impact on ROE only in low income countries. For hlgh income countries, there is no significant effect between the two variables. Therefore, the following hypothesis can be proposed: Hypotheis1 : There is a significant relationship between Bank’s arket concentration and Bank’s return on equity of commercial banks in Bangladesh. Relationship between market size and banks’ return on equity Shepherd (1972) mentioned a positive relation between the market size and return o n equity. Such a nature ofrelationship continues to receive a great deal of attention. Seedier and Gee (1 96 1) suggested that the variability ofthe growth rate ofbank assets declines with the market size. Demerguq- Kunt and Huizinga (2001) noted that growth ofmarket size, in contrast, is positively and significantly related to profit growth. Again by following the same path of Smirlock (1 985), Alzaidanin (2003) mentioned a positive and significant relationship between banks’ size and banks’ return on equity based on product differentiations. Therefore, the following hypothesis can be proposed: Hypothesis 2: There is a significant relationship between Bank’s market size and Bank’s retum on equity of commercial banks in Bangladesh. Relationship between banks’ risk and banks’ return on equity Gizycki (2001) stated that even though return on equity is influenced by bank’s credit risk, the relationship between the two is not straightforward. Movements in the retum on assets will reflect not just credit risk, ut the full range of risks, including bank’s exposures to movements in interest rates and exchange rates, liquidity risk and operational risks. Moreover, banks return on equity reflects not just risk-taking, but also other factors such as the mix ofon and offbalance sheet business, operating efficiency, the level of co mpetition within the banking market, and regulatory constraints. Banks earn higher returns by taking on riskier business, this will boost the return on equity. However, if a bank experiences losses beyond what it had provisioned for, such losses will reduce return on equity. Bourke (1 989) reports hat the effect of credit risk on retum on equity appears clearlynegative. This result may be explained by taking into account the fact that the more financial institutions are exposed to high- risk loans, the higher is the accumulation ofunpaid loans, implying that these loan losses have produced lower returns to many commercial banks. Therefore, the following hypothesis can be proposed: Hypothesis 3: There is a significant relationship between Bank’s risk and Bank’s return on equity of commercial banks in Bangladesh. Conceptual framework It is proposed that bank’s market concentration, bank’s market size, and ank’s risk are important in the context ofthe ir relationships with bank’s return on equity. Based on the preceding literature review, the following framework was proposed. Nadim Jahangir, Shubhankar Shill and Md. Amlan Jahid Haque The conceptual Mework (figure 1) depicts sample size is trimmed down to 15 because of the measured variables and their relationships in inaccessibility of data. To run the analysis data the present study. fiom the year 2000 to 2005 data were used. Measures Methodology Research setting To calculate profitability of selected banks, the following ratios were used: Only the listed banks n the Dhaka Stock . Bank’s return on equity (ROE) = Exchange were selected for this study. The Net Income / Total Equity researchers collected secondary data from the annual reports of these banks. Market size= Individual bank’s deposit / Total banks’ deposit Srrr~lpliilg nlethod Market Concentration index = Market size Currently the Dhaka Stock Exchange has 23 listed banks. Therefore, the rese archers have . Bank Risk Measure = selected 23 banks in Bangladesh. However, the Bank’s total loan / total deposit Bd’s Market Concentration Bank’s Market Size. B’d’s Risk Bank’s Return on Equity Figre1 : Conceptr~l Framework of proposed variables and their relationshps. Examination of Profitability in the Context of Bangladesh Banking Industry The relevant reasons and credentials behind the above measures ofprofitability ofbanks are as follows: According to Al-Shamrnari M. and Salirni A. (1 998) profitability ratio especially ROE signals the earning capability of the organization. They also suggest that higher return on equity (ROE) ratio is appreciable as it is the primary indicator ofbank’s profitability and functional efficiency. Besides that the authors pointed out that higher liquidityratio pulls strength of peration up. Thus, fiom their view it can be stated that bank risk can be offset through lower loan-to-deposit ratio. For bank, the capital sufficiency is important to fiu-ther growth as well as profitability. Conversely, more loans derive higher credit risk, higher rate of nonperforming loans, and lower return on asset as well as equity. They provided a data envelopment analysi s (DEA) model to explore the financial position ofcommercial banks in Jordan. Therefore, ROE is used here to measure the profitabilitywhich is the most sought after measure among all. Philippatos andYildlrim (2007) recommended that the arket attractiveness and profitability has a positive relationship in the context of monopolistic banking business. Force of lending can pull up through increase efficiency of own capital and competency. However, earlier in 1977, Heggestad explained that if the individual bank has higher market share it is sure to enjoy monopoly which helps the bank to extend market concentration and reduce risk. The ultimate result is the increase ofreturn on equity (ROE). He also said that risk is a fimdamental factor in pulling up profit. But, market size diverts risk hm business and confirms smooth growth and secured ROE. How to cite Traffic Jam in Dhaka City, Papers

Competituive Forces free essay sample

Michael Porter identified 5 forces analysis of which he defined as a framework for industry analysis and business strategy that draws up industrial organization economics to derive the 5 forces. These five forces determine the intrinsic long run attractiveness and strength of a market segment: industry competitors potential entrants, substitutes, buyers and supplies. Three of Porters five forces refer to competition from external sources. The remainders are internal threats. Porter referred to these forces as the micro environment, to contrast it with the more general term macro environment. They consist of those forces close to a company that affect its ability to serve its customers and make a profit. A change in any of the forces normally requires a business unit to re-assess the marketplace given the overall change in industry information. The overall industry attractiveness does not imply that every firm in the industry will return the same profitability. Firms are able to apply their core competencies, business model or network to achieve a profit above the industry average and the writer is going to look at the impacts these forces have on the Zimbabwean Tourism Industry. The diagram below is an overview of Porters five forces Adaped from Phillpe Kolter (2010) Threat of intense segment rivalry A segment is unattractive if it contains numerous, strong and aggressive competitors as according to Phillipe Kotler. As in the diagram above all the 4 forces mentioned in the digramram contribute to the intensity of rivalry within the industry. For example, Rainbow hotel in Bulawayo faces stiff competition from its rivals like Cresta Churchill, Nesbit Castle, holiday Inn and the nearby Hotel St. Patrick’s. The existence of these rivals in respect to their exceptional environment like in the case of Hotel St. Patrick’s is a live threat to rainbow hotel which is located in the CBD and in a less quiet environment as compared to St. Patrick’s. Rainbow offers services like which are offered at Hotel St. Patrick’s for example wedding planning and function management. Looking at these two hotels they offer the service differently and this makes it a threat to each and every firm in the industry. A segment is even more unattractive if it is stable or declining and fixed costs in need to be increased or exit barriers are high or its competitors have high stakes in staying in the segment. For example in African Sun limited, one of its Strategic business unit Hwange Safari lodge, had not been pumping in profits from 2008-2010. The corporate was keeping this unit for strategic reasons, thus business was going to boast on the 2010 world cup and gain its competitive advantage and recap on its position in the market. The reason why it did not exit the market is the potential that it possessed as far as the dog factor in the BCG matrix is concerned. These conditions will lead to frequent price wars as some rivals may restructure their marketing strategy to price penetration into the existing market, advertising battles and new product introduction and will make it expensive to compete. In the case of INSCCOR, expensive renovations were done to catch the customers and position its self in within the market. Hotels and lodges in Gweru like Village Lodge are advertising through billboards to attract customer attention and fight the competition. On price wars, analysis Zimbabwe’s hospitality industry concentrating on Bulawayo locality, food outlets like Chicken Inn, their chicken is less expensive, for example ‘1 piercer’, 2piecer combos’ unlike hotel food which is generally expensive, for example Holiday inn half chicken costs US$22 comparing to Mamoyo restaurant billing it at $11, half the price for Holiday inn. The price at Mamoyos attracts customers’ from different levels of affluence. In an effort to eliminate intense segment rivalry food outlets, lodges and hotels invested in setting up billboards like chicken inn, village lodge and Crestar Churchill. This positions these companies in a better competitive advantage unlike hotels like Nesbit Castle, Rainbow hotel and other small outlets which are thriving to be identified in the market and more so for establishments like INNSCOR and village lodge makes their distribution channels accessible to their target market. For small outlets to introduce new products it is expensive for them but they have got a slim choice due to the existing market with set standards. For example hotel St. Patrick’s is a new hotel and for it to meet the set standards, it has to penetrate the market through offering better standards as compared to existing rivals. Threat of new entrance The most attractive segment is one in which entry barriers are high and exit barriers are low. More-so potential competitors may enter the industry if given the choice to do so. This refers to firms which are not currently competing in the industry but have potential to do so if given a chance In the hospitality industry today we see that hotels, lodges and food outlets are emerging this causing a threat to existing business units. The Chinese are currently constructing a state of the art shopping mall and a hotel which is going to have the latest technological advancements in terms of security (improved locking systems), luxurious surroundings, product and service to the clientele in Harare, this is a threat to the existing hotels and fast food outlets as this project is bound to improve from where the existing hotels are lacking in terms of product development and services. This however will mean that the existing hotels and other accommodation facilities will lose the market share as the new entrant will cause the major change in the market environment. When both entry and exit barriers are high, profit potential is high but firms face more risk because poorer performing firms stay in and fight it out. When both entry and exit barriers are low firms. New competitors are a threat as they rob current firms of their clients and market. Due to brand loyalty existing firms enjoy profits as their products are already inclined within the market, in contrast the new firms will need to fork out more on heavy advertising of their product. The distribution channel for emerging business units needs a high capital base so that they will be able to market their products and services intensively to create a platform for survival in the existing market. Government regulations may restrict entrance of new firms; however the Zimbabwean government has passed the indigenization law which allows the locals to have a 51% stake and the remaining to the foreign firm. Recently Kentucky Fried Chicken (KFC) wanted to come back into the Zimbabwean business sector but due to the indigenization law hence discouraging their entry requirement back in to the Zimbabwean industry allowing to have one leading fast food outlet that being Chicken Inn. Threat of substitutes According to the five forces the threat of substitutes refers to the products having the ability of satisfying customers’ needs effectively. The threats to substitute products can be defined as the products’ that have potential to replace the existing products more economic than the original products nd services that are offered in the hospitality industry for example in the transport sector Pathfinder fares are almost the same as compared to domestic air fares which acts as a substitute to the road network leading to the resort destination. However profits and prices are likely to be negatively affected if technology or competition increases for example high technology in farming potatoes increased the quality and lowered the cost of production exposing direct threat to relative products like bread as they act as a substitute. Looking at the Zimbabwean tourism earlier in the days hotels were the only establishments that had restaurants but currently there are restaurant take aways where the food is cheap and affordable and this poses as a threat to hotels for example the emerging of restaurants like Cafe Mnandi ,Horizon bar and restaurant, these are substitutes to big hotels like Holiday Inn and Rainbow as customers are resorting to these other establishments as they are cheap and affordable to all types of clientele. In some cases when big hotels such as Holiday Inn and Rainbow are fully booked and they do not have space they refer their clients to other lodges and other hotels such as Cresta. THREAT OF BARGAINING POWER OF BUYERS Michael Porter’s five forces refers to the pressure consumers can exert on businesses to get them to provide higher quality of products, better customer service and lower prices. For example in Zimbabwe’s economy the clients expect goods which are worth the value for their money. This then pushes the price for civilized clients to be in possession of the power to push the firms in industry to fight competition and surface in the market. For sellers to protect themselves from this threat they must target and look for clients or buyers who are less sensitive to price changes while another counter measure is developing superior offers and products which strong buyers cannot have the guts to resist. For example in Zimbabwe, an entrepreneur aimed at high class clientelle in establishing ‘club 360’ with very high prices in Borrowdale Brooke where clients are less sensitive to prices. Looking at most Zimbabwean hotels bookings for Conferences and large catering can be negotiated for lowest costs at reasonable qualities for example If people who do large catering were few ,it means they would come together and negotiate on a set price s that customers would not have bargaining power over the sellers. Like in the likes of different areas that have different cultures certain products and services cannot be sold in for example the Trout back Inn is surrounded by the Amapostori and establishing a bar that sells alcohol will not be profitable because of the type of clientele that surrounds the area BARGAINING POWER OF SUPPLIERS Bargaining power of suppliers is also known as the market of inputs. of raw materials ,components ,labor and services such as expertise to the firm can be the source of power over the firm when there are few substitutes. From 2000 to 2010 suppliers in Suppliers Zimbabwe had the bargaining power as they were able to raise prices as well as reduce the quantities supplied as the inflation rate was very high. Most hotels were facing challenges on which suppliers to trust and there was too much competition for these commodities and some hotels had to close down their food and beverage department as it was not making any profit, currently due to the normalization of inflation creating the availability of commodities thus increasing the number of suppliers that supply a number of goods(flooding of suppliers in the industry). Suppliers are powerful or differentiated if there are only a few suppliers or one in the market ,the suppliers will have more leverage because of lack of available alternatives for instance ZESA and Fuel companies, customers are less likely to switch supplies if the cost of switching is very high that is most hotels cannot resort to generators because of irregularity of fuel so they rely most on ZESA and gas. Nesbit Castle also has power over other hotels like Holiday Inn and Rainbow Hotel because of the castle that is unique and is mostly used to do international conferences and weddings and is the only castle in Bulawayo so they have power over their competitors who cannot offer clients a castle as a service. Labor is a supplier and may exert a degree of considerable power in some situations that is if working conditions and salaries are low and unsatisfactory it usually leads to strikes, go slows, vandalism and pilferages which is a cost factor to the company. To cap it all these five forces analysis is just one part of the complete Porter strategic models. The other elements are Porter indirectly rebutted the assertions of other forces, by referring to innovation, government, and complementary products and services as factors that affect the five forces. It is also perhaps not feasible to evaluate the attractiveness of an industry independent of the resources a firm brings to that industry. It is thus argued that this theory be coupled with the Resource-Based View (RBV) in order for the firm to develop a much more sound strategy.  It provides a simple perspective for accessing and analyzing the competitive strength and position of a corporation, business or organization.