The Impact Of The Recession On The Banking - Free Essay Example

In late 2000s financial market collapse and the resulting, global recession have left an urgent need for knowledge and research about unemployment-financial markets, poverty and much more. It will be expected from the social scientist to examine the reasons and causes of the crisis, the resulting economic and social trouble, and solid solution. It is very important to look back in the previous recessions-to find out what happen, what policy can be learned from the past, and how can we avoid some of the worst results of the past. This is very challenging research, but we are not definitely exploring it from the start There are some other issues like people happiness and wellbeing stable life, we can also think about it (which were not actually on the researcher parameters in the previous recessions but have drawn a noticeable attention in recent years. This survey will provide a broad overlook of finding social and finical research on impact of recession on housing industry and banking industry, its causes, consequences and immediate policiesIts aim to be of à ¢Ã¢â€š ¬Ã…“what we already knowà ¢Ã¢â€š ¬? and à ¢Ã¢â€š ¬Ã…“what we need to knowà ¢Ã¢â€š ¬? about it. It is very important to find and answers for the future prosperity Theory of economic suggest that how recession can lead towards the vulnerable financial conditions of any sector and it can triggered or worsen the conditions A case study on the impact of recession on the banking as well as housing industries and how it affected the UK economic market Rationale Theory of economy suggest that when economy goes through different cycles and call decreasing gross national product(GDP) of the country is called recession, but in terms of economic recession many expert consider that significant decline in the economic progress throughout the country. Global recession is the period when global economy is slowdown. It is very difficult to defining a global recession because it is expected from the developing countries that have a higher GDP than developed countries. This case study is about a UK business market and its adverse result on the UK economy. Recession is not a new thing in 21st century, UK already have seen an adverse result in late 70s and 1990sRecession had fatal effect on all over the world. But researcher thinks that developed countries are more affected than developing countries. In 2010, the government officially announced that recession is over. Should we accept it now? Is it true? Or it is simply a made-up story? It is par ticular believe that recession started in Dec 2007 in US and spread out globallyBritain is a most affected country by recession. In late 2000s recession, the financial market collapse and it had a worse impact on jobs, on people lives and on business. This recession was very cruel on many sector of economy, financial institutions. Britain has now in recession for over a three years and. the British economy was officially announced to be in recession January 2008. In present time banks operate almost every business. Because of their wrong strategic plan, modern world has seen the worst economical disaster. Unregulated financial activity created valueless economical boom. But in final stage they paid the big price for it. Investor lost millions. People lost their savings. Some critic says, because of greedy bankers, working class people facing the bad situations. Even ex-prime minister Mr Brown supported criticà ¢Ã¢â€š ¬Ã¢â€ž ¢s statement. He said, à ¢Ã¢â€š ¬Ã…“because of some greedy bankers we have been passing through the most drastic situationà ¢Ã¢â€š ¬? Banks are the finance provider to the other sectors to the growth of economy. This late 2000,s recession worsen the condition .mortgage rate was high they cut back loans and redundant people. The problem was clear in late 2000s recession when the international investors and domestic holders withdrawing their deposits and banks were cutting back loans. It was really hard for the client to find out a good mortgage deals. In economical crises, property market is the most effected sector. It started in the USA in mid 2007. Property market mainly gets support from bank. But in financial crises, banks and mortgage firms was facing the significant problem. Therefore it was very hard for buyers to find a suitable property for buying. We would take a look at what were the changes that were made with the finanical downturn and what attempts were made to survive in the business world. We would also look through the critical and analytical point of view that how we will be able to come out from this scenario? 4 Literature review. This dissertation will also discuses the financial crisis in UK and what is the economic condition now? It will also highlight what are the main causes and what are the affect of 2000s recession? AS we know that recession could cause crises theory, currency crisis and financial crisis. Recession affects are very disastrous it could be a reason of bankruptcies, unemployment, credit crunch or foreclosure. In this dissertation a researcher would like to throw a light on two big giant sectors that is housing sector and banking sector. These two sectors rely on each other and late 2000s recession badly affected them. Housing market The painful drop in economic output and continuously rise in the unemployment had bad affect on housing prices and demand for buying houses. There are two main causes of this sharp decline, unemployment .It also contributed to rise in repossession. The, lower financial output led to a big cut in interest rate. It lowered mortgage interest payments. Banks are struggling to raise finance and the result is insufficiency of mortgage credit. Banks were overcautious about lending money and it is caused a shortage of buyers . It is noticeable that lower mortgage rate is attracting somehow but the financial companies have a big lost. They have to suffer for it. In gernal sense housing market is direct centre of crisis. Financial disaster was started in USA and spread out to UK .Three years ago when northern rock a mortgage bank was teetering on the edge, the financial authorities carried out keeping it a float with undeclared emergency lending. The main objection at that time came from the financial services authorities that a listed company should have to disclose the emergency lending to avoid misleading the business market. The economist (2009) in their journals identifies that commercial property values in central London are fallen by as much as 50% since the financial crises hit. It was in the news that Dubai was delaying repayments of some of it $60 billion ( £36billion) in debt. The main purpose of this report was to unveil the dark side of the 2000s recession. When a giant overhang of the loans and it cause the economical disaster as well. Banking sector Banks are like a backbone of any prosperous country and the regulation of economic growth.2007- present; the financial crises are worsening the banking system. In the result many large financial insinuations are collapsed. Late 2000s recession is more like comprising with the 1930,s recession. Actually all the major economies are facing hardest time in economic growth in UK. In their rep ort told that à ¢Ã¢â€š ¬Ã…“the governor of the bank of England Mervay king has warned that the UK is in a deep recession à ¢Ã¢â€š ¬Ã…“in 2009 and said rate cuts may no longer work Allen(1994) in his book financial crisis and recession in the global economy comments about recession and global economy in his chapter 1, 2 and 3.this research study is about 1982 world recession.1987 stock market crash Northern rock a British bank was one of the first victim of finical crisis. Northern rock requested a security to the bank of England. The investors were panic and bank run in September 2007.In February 2008 British government failed to find a buyer from a private sector and it was taken into the public hands. Northern rock bank proved initial stage problem. The companies affected those directly related to mortgage lending and home construction e.g. countrywide financial and Northern rock because they could not find financing through the credit market. In the result more than 1 00 lenders went bankrupt during December 2007-2008, another investor bank Bear Stearns collapsed in 2008 because of the fire sale to JP Morgan Chase. Financial crisis hit it peak in September and October 2008 Research Questions The dissertation will aim to find answers the following research questions through the analytical techniques and the data collections. What causes an economic recession? What are the effects of an economic recession on the financial sector? What is the current scenario and what is the future of financial sector state of UK? Some of the financial companies are not affected by recession? What are the strategies they adopted? What is the short term and long term strategies adopt by a business in the recent recession. Research Methodology The main objective of this analysis would be to examine the main cause of recession. The dissertations will discuses the economic condition of UK banks and housing market. It will also analyse that what are the strategies that have been adopted by the financial sector. For the research methodology it is important bringing in related knowledge towards the UK recession and its impact towards the financial sector. Negatively or positively from within the case study interviews to be given by some UK small medium enterpriser and multinational corporations, interviews will be of no less than hundred, these are the ones who are effected by recession regarding their loss of jobs and the status from their employment from the UK business sectors. Types of Data The main type of Data will be collected for this purpose of this report is as follows. Primary Data Primary data is the information which is collected by the researcher from his own primary data and analysis. This could be questionnaire-interviews observation, case study or critical incident. The primary data, which is collected from the different source, could be either qualitative which looks at the explanation behind the given responses or quantitative which is in the form of numbers and which can represent in the form of a graph or table. Questionnaires A research question is a kind of survey where the information is collected with the intension of arriving at the different conclusions on an issue. This kind of survey will help the researcher to get impartial result and if required the researcher can predict an issue or advice changes. Question will be divided to the employees, managers of big financial companies of random banks, mortgage companies and the housing sector. The question will be targeting a most specific issue of the discussion and each response would b e analyse against each other. Survey may be deal with a variety of media (paper-electronic-verbal). Different kind of method can be used internet, face to face, telephone and mails.. The population will be divvied in managerà ¢Ã¢â€š ¬Ã¢â€ž ¢s employees and customers. Interviews Interview will be held on the spot with the people of different sectors. It could be either on phone or face to face. When the respondent meets the interviewee over the phone or directly and answer some circumstantial questions relating to circumstantial issue. This kind of interviews is more advantageous since not only respondent can convey themselves and interview can ask to elucidate the answer. Secondary Data Secondary data is a information that is already available. This could be including books, reviews, press releases, newspaper, news bulletin or reports etc. Again secondary data collected could be either quantitative or qualitative. It depends on the source and type of the information collected. Sampling method Stratified sampling Stratified sampling is a method where the population are based on groups. For the dissertation purpose, we will divide the populations. Managers of the companies This will include managers who are in direct contact with financial departments, including policy and decisions makers. Staff This group direct to those who help apply the strategies or changes. their opinion is indispensible as they are indirectly related with the running of business The big advantage of stratified sampling is that question will be related to the details. The interviewer wants to be answered and there will be less chance that the respondent will simply guess an answer that theses interviewer are in position to give answer to the questions. Simple random sampling This is a method where a small group of samples are selected from a large group.. 4.Data analysis There are two major approaches to analysis the data and collect an information qualitative and quantitative research method. Sometime required information is already available require only be pull out. However, in the analysis sometime information must be collected. This kind of research will call back the second approach. The research needs to be collected and it is not already available. The research mainly relies on the primary data. The nature of the problem, which researcher will explore in this report is suitable for both research methods. The secondary data in this research will be gathered from, reports, and books journals-journals-internet websites-companies websites, articles and every other written source of data. As primary data will be collected through interviews and questions, then all of the collected data will be analysis to accomplish the objectives and aims of the dissertation Qualitative Research Technique Qualitative research means to know why, not the, how, which is collected by many methods like interviews, feedback, forms-emails. Qualitative research is used to understand how people feel and they think-depth interviews or group discussions are two common methods to use for collect qualitative information. Quantitative Research Technique Quantitative research technique where a research method depends less on interviews-questions, observations but it is more focused on the numerical data and statistic collection and analysis. Information collected from the financial sectors, banks, mortgage companies will be combined together and put into tables and graphical charts to view the opinion on different topics and to review overall responses. Limitations of the Study Validity and reliability Validity directs to the truthfulness and accuracy of the research. Research data may be mislead if a question will be misinterpreted or misunderstand. Reliability is a various statistical tests. There is another way to test the reliability is to ask a same question with different wording in the research survey. It will help to collect a right data. Data may be misleading if the interviewee gives a judgment instead of straight facts. Therefore respondent will be bound in many ways from freely expression views with the help of close ended questions. Interviewing It may b challenging to finding the right person at the right time. Because of the current economic condition. a financial sectors would be face with the different challenges and then an interview for an academic research could end up a long way wait. Confidentiality As the business market is very competitive and the fact is that bit information about the company can give a rise to the competitors, a company might not want to share data. Although a confidentiality agreement will be signed and disclaimer will be issued. Response times The response time to the questionnaire and interview setting mostly rely on how busy the management and staff are at the research time. This might make collection process more lengthy Recent external factors Economical changes have a direct impact on the financial sectors and therefore theses changes have impact on their staffs as well. It is possible that feed back could be more a response to the recent external changes and not because of the business to ensure employees are happy and content.

The Vision and Mission Statements of Google

Today, the average web surfer can search for a number of differently phrased words or key words related to a specific topic and still come up with a plethora of great information from a myriad of sources. However, the world wide web was not always so easy to navigate. There was once a time when one had to know the exact wording of a website’s title to find what they were looking for. To start from the beginning, let’s define what search engine means. A search engine is a software program or script available through the Internet that searches documents and files for keywords and returns the results of any files containing those keywords. The History of Search Engines An internet search back then was not able to provide a user with related topics and keywords, and adding a URL to an engine’s index sometimes took weeks to complete. Today, there are thousands of different search engines available on the Internet, each with their own abilities and features. But nowadays, having the technologies and internet possibilities turned our lives into something great and amazing, we can definitely say that it was a long way for search engines to take off. More free time? Better grade? Click on this button nowOrder Now Modern search engines are pretty incredible – complex algorithms enable search engines to take your search query and return results that are usually quite accurate, presenting you with valuable information nuggets amidst a vast information data mine. Google, being one of the first companies which have created the search engine called for utilize backlinks for search where any mention (using the citation notations) of web-site on another web-site counted it as a vote toward the mentioned site. Having search optimization and technologies developed and improved by this time, Google search engines and other major search engines like Bing and Yahoo tried to use large, numerous computers in order to search through the large quantities of data across the web. Along with all of the technologies, internet’s opportunities and high demand from the audience, the vast majority of the companies had to take this change, adjust the solution they had and create something that could answer on customer’s needs. Of course not all of them took the changes easily, some companies went bankrupt but some of them were strong enough (being able to adapt to the change) to survive. Google is one of the examples of how company could reform its policy, build up new approaches according to the user’s needs and increase its dominance so now, every one knows what Google is! Why is Google so widespread and well-known in the world? What does Google offer now? What is the secret that Google has to cater user’s particular interests? To get the answers on all of these questions, you need to keep on reading. To start from the beginning, Google Inc. is American search engine company, established in 1998. Google began as an online search firm, but it now offers more than 50 Internet services and products, from e-mail and online document creation to software for mobile phones and tablet computers. Google’s broad product portfolio and size make it one of the top four influential companies in the high-tech marketplace, along with Apple, IBM, and Microsoft. Offering everything from image searches, map searches, news searches, etc, Google is the most well-known and widespread search engine users select. Despite this myriad of products, its original search tool remains the core of its success. With impressive keyword relevancy and a continuously improving search algorithm, its easy to see why Google is still the reigning champ. So what is secret of Google that makes it so successful? It is Google’s values and its mission. Google’s mission statement and vision statement reflect the powerful position of this company in terms of what it wants to achieve. The mission statement defines the strategies of the business, such as the development of new products. In a similar way, the company’s vision statement pushes the organization to achieve new heights, such as through rapid innovation. Google follows its vision statement and mission statement through its generic strategy and intensive growth strategies. What is Google’s Vision Statement? Google’s vision statement is â€Å"to provide access to the world’s information in one click.† The definition of this mission statement has three variables, namely, world’s information, accessibility, and one click. The firm fulfills the world’s information component of the vision statement by crawling webpages. The company maintains databases containing indexes of these websites. Google fulfills the accessibility component by offering its search engine services to everyone around the world. The one click component of the vision statement refers to easy access to information. The firm fulfills this component by offering innovative products, such as the easy-to-use Google Search. Thus, the company effectively follows its vision statement. What is Google’s Mission Statement? Google’s mission statement is â€Å"to organize the world’s information and make it universally accessible and useful.† Ever since its beginnings, the company has focused on developing its proprietary algorithms to maximize effectiveness. Google continues to focus on ensuring that people access the information they need. As an every day user, you have to admit Google is utterly indispensable in your every day life. For every interference it is the one that helps a lot. That is why Google Search Engine is the best search engine in the world and it is also one of most popular product from Google. Almost 70 percent of Search Engine market has been acquired by Google. The tech giant has always trying to improve the search engine algorithm to provide best results to the end-user. Thus, the success of Google is directly connected to the efforts of the company to fulfill its mission statement and vision statement. So could anyone challenge Googles dominance?