Infosys and National Commercial Bank, JamaicaEssay title: Infosys and National Commercial Bank, JamaicaChapter 1IntroductionToday’s business environment produces change in the workplace more suddenly and frequently than ever before. Mergers, acquisitions, new technology, restructuring and downsizing are all factors that contribute to a growing climate of uncertainty. Jobs, health, even marriages can be placed at risk, jeopardizing productivity and profitability.
People have deep attachments to their organization, work group, and way of working. The ability to adapt to changing work conditions is key for individual and organizational survival. Change will be ever present and learning to manage and lead change includes not only understanding human factors but also skill to manage and lead change effectively.
National Commercial Bank, JamaicaNational Commercial Bank (NCB) is the strongest capitalized bank in Jamaica and the market leader in foreign exchange trading, pension fund management, stock-broking and credit cards. NCB is regarded as a pacesetter in the financial sector, being the first in Jamaica to introduce local proprietary credit cards, private label, co-branded, and international credit cards. NCB provides a world of financial services to its clients, both through its strong network of branches and subsidiary companies.
The bank has a long and colourful history dating back to 1837 when the Colonial Bank (predecessor to Barclays Bank International) opened for business on Harbour Street, downtown Kingston. In 1977, the Government of Jamaica acquired the shares of the Bank and changed its name from Barclays Bank to National Commercial Bank Jamaica Limited.
Today, the NCB and its subsidiaries are one of the largest financial services groups in Jamaica providing a wide range of services. The subsidiaries are:
1) NCB Capital Markets Limited which provides securities and stockbrokerage services2) NCB Insurance Company Limited which provides banc assurance products3) West Indies Trust Company Limited for pension and property management4) NCB (Nominees) Limited for registrar services5) NCB (Cayman) Limited which offers offshore banking6) Senvia Money Services for money remittance servicesAdvantages for the customer:The NCB Group of Companies is technologically advanced having spent approximately US$55 million on a new core banking system since 2002. The growing creditworthy asset book as well as the improving capital base of the Group, suggest a financial strength that places NCB in a very strong and competitive position in the marketplace. In the second quarter, the organization recorded continued significant growth and at the end of March 2004, NCB group reported profits of J$1.89 billion.
Citizens of New Zealand (CCN) is a group of high-tech, technology, and innovation-oriented individuals who aspire to help create an economy using the newest, the most advanced and the brightest individuals. CCN is also engaged in public policy and education.
Citizens of New Zealand has a reputation for transparency and good governance. They have recently established a trust fund of USD$18 000. Prior to the start of the Government’s new policy on corporate financial reform, it was estimated that C$6 000 per year would be required to provide for their basic needs and fund the government’s pension fund, as well as other needs. With the end of the long period of economic recession, the average household spent a minimum of USD$10 000 per year on pension and social security. Over the last five years, the average household has spent USD$25 000 per year on social security, an increase of $30 000 since the early 2000s, and the average household has spent a minimum of USD$30 000 per year on social security over the last five years. As a consequence of a growing number of households not spending enough on pension and social security, the average household has lost some of the ability to support themselves without financial help. The average household earns a lot of money through pension expenses. This trend has led to an increase in those who believe that reducing their financial dependence on pensions and Social Security will improve their health. While providing a financial retirement security should not be considered in a vacuum, it gives a strong incentive to invest in stocks and bonds. This type of investment does not involve borrowing money to buy stocks and bonds, and instead provides a mechanism for individuals to access and access the services that they need to make a living. With both of these activities supported, citizens of New Zealand are now able to contribute to an economy and invest from within. In a country where the average monthly income is not more than USD1000/month, this can be an effective means of investment to promote a sustainable economic system. The average monthly income of New Zealand households is USD5000/year. The CCN Group has become the leading research company in the world with over 100,000 employees across a wide range of industries, from public health, education & social care to tourism, government, and public transportation. Since 2008, CCN has been involved actively in policy and training of new members of Parliament and of the public. CCN also provides legal advice and training to government offices and has a special training facility where it provides guidance on the legal profession. CCNs are responsible for ensuring that legislation is passed before the start of the next Parliament. In recent years, CCNs have also been in close touch with other institutions, including the government and the European Parliament, to give their recommendations to the Finance Committee at different times. In addition, CCNs are represented by a Board led by the Minister for Finance, responsible for setting the framework for regulatory changes. CCNs are also involved in developing the public policy framework to ensure that the financial sector can move ahead with economic development across the country. CCNs are also involved in implementing the country’s labour market reforms, particularly by establishing new, high-skilled labour, infrastructure, trade and construction sectors that provide workers with a better economic opportunity over longer supply chains and by extending the definition of “good practice” to include services such as education, training and legal advice. As a result of these successes, it is expected that the Canadian government will be a major source of economic support for CCNs in the period ahead
Citizens of New Zealand (CCN) is a group of high-tech, technology, and innovation-oriented individuals who aspire to help create an economy using the newest, the most advanced and the brightest individuals. CCN is also engaged in public policy and education.
Citizens of New Zealand has a reputation for transparency and good governance. They have recently established a trust fund of USD$18 000. Prior to the start of the Government’s new policy on corporate financial reform, it was estimated that C$6 000 per year would be required to provide for their basic needs and fund the government’s pension fund, as well as other needs. With the end of the long period of economic recession, the average household spent a minimum of USD$10 000 per year on pension and social security. Over the last five years, the average household has spent USD$25 000 per year on social security, an increase of $30 000 since the early 2000s, and the average household has spent a minimum of USD$30 000 per year on social security over the last five years. As a consequence of a growing number of households not spending enough on pension and social security, the average household has lost some of the ability to support themselves without financial help. The average household earns a lot of money through pension expenses. This trend has led to an increase in those who believe that reducing their financial dependence on pensions and Social Security will improve their health. While providing a financial retirement security should not be considered in a vacuum, it gives a strong incentive to invest in stocks and bonds. This type of investment does not involve borrowing money to buy stocks and bonds, and instead provides a mechanism for individuals to access and access the services that they need to make a living. With both of these activities supported, citizens of New Zealand are now able to contribute to an economy and invest from within. In a country where the average monthly income is not more than USD1000/month, this can be an effective means of investment to promote a sustainable economic system. The average monthly income of New Zealand households is USD5000/year. The CCN Group has become the leading research company in the world with over 100,000 employees across a wide range of industries, from public health, education & social care to tourism, government, and public transportation. Since 2008, CCN has been involved actively in policy and training of new members of Parliament and of the public. CCN also provides legal advice and training to government offices and has a special training facility where it provides guidance on the legal profession. CCNs are responsible for ensuring that legislation is passed before the start of the next Parliament. In recent years, CCNs have also been in close touch with other institutions, including the government and the European Parliament, to give their recommendations to the Finance Committee at different times. In addition, CCNs are represented by a Board led by the Minister for Finance, responsible for setting the framework for regulatory changes. CCNs are also involved in developing the public policy framework to ensure that the financial sector can move ahead with economic development across the country. CCNs are also involved in implementing the country’s labour market reforms, particularly by establishing new, high-skilled labour, infrastructure, trade and construction sectors that provide workers with a better economic opportunity over longer supply chains and by extending the definition of “good practice” to include services such as education, training and legal advice. As a result of these successes, it is expected that the Canadian government will be a major source of economic support for CCNs in the period ahead
Core Values:1) We hold a deep and abiding respect for each customer, every colleague in our companies, and all our shareholders.2) We commit to find new, practical, and innovative ways to make the term “excellent service” more relevant to each customer – every day.3) We commit to the relentless renewal of our enterprise through the constant training of our people at all levels.4) In our merit-based culture, individual reward and recognition will be a result of measured performance.5) We treat all competitors as noble, but we will compete fairly and vigorously to win.Apart from these values NCB has been continuously working for the betterment of the society, for this purpose they have formed a NCB foundation:MissionThe NCB Foundation respects and embraces charitable causes that are relevant to the betterment of Jamaica and leads in corporate social responsibility through strategic partnerships focused on the development of our nation’s people.
Areas of Focus1) To provide or harness opportunities for meaningful change/improvement in the Jamaican society by focusing on specific sectors namely, Education and Community Development.
2) To enhance the NCB brand by generating and strengthening the goodwill created from the Foundation’s philanthropic activities.3) To encourage and facilitate volunteerism amongst NCB employees.