Performance Management Program

Introduction A performance management system to work properly and effectively its design has to be considered carefully and planned well. A good performance management system is purposely for the elevation of employees’ performance and in effect, improves on business productivity hence the management should endeavor to find a good system that delivers the object of the company. Basically, a performance management system should have four benefits (Dun and Bradstreet 1).Advertising We will write a custom essay sample on Performance Management Program specifically for you for only $16.05 $11/page Learn More It should clearly understand what the job expects. It should give regular feedback on performance. Advice on steps of improving performance Finally, it should reward performance. Communication is important to any company, as research shows that managers with poor communication and poor interpersonal skills often than not lead to the downfall of the company, therefore, all managers should be trained on how to conduct fair, nonjudgmental and consistent appraisal. A performance program should provide a guideline for improvement and Institute basic policies, deal with poor performance and employee weakness. In establishing the system you should decide whether you will provide training or mentoring for weak employees and also set guidelines on improvement of timelines. A system should incorporate employee input. The system should also input staff suggestions. Finally, a well performing employee should be rewarded or compensated. Rewards improve employee morale and generate loyalty within the company and foster improvement. However, performance appraisal and pay hikes are a highly contested issue.critics have been of the opinion that tying the two would be punishing underachieving employees. Employees should be constantly rewarded for their hard work (United States Department of Commerce par. 5). Discussion The IRS performance m anagement program is a good example of a working system that has improved the performance of IRS employees. The IRS performance management system has established critical job responsibility for frontline employees who align with the agencies three strategic goals. This system provides responsibilities and supporting behaviors on how the daily activities of the frontline employees and managers should reflect the organization’s core values, for example. The responsibility of customer’s satisfaction aligns with the strategic goal of top quality service to each taxpayer in every interaction. The goal of leadership and equal opportunity supports the agencies’ goal of an open air and fair work environment (General Accounting office 1). IRS evaluates its frontline employees on five critical responsibilities, customer satisfaction, knowledge, quality business results and employee contribution. All this aligned with IRS strategic goals. The IRS performance management sys tem attempts to assist managers and employees to develop their commitment and hold them accountable for meeting their commitments they are required to be clear, achievable, specific, outcome or output oriented and easy to monitor.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More A number of initiatives have been implemented by IRS to improve its performance management system. In this, it realized that it needed to redesign its performance management to better communicate the behaviors constituting customer satisfaction, employee satisfaction and make sure employees adopt the newly desired behavior in their day to day activities. This has led to IRS undertaking several initiatives, which include; Conducting an interactive conference with all the employees on the new management system. Distribution of computer discs for easier access to information and posting of information on the IRS intran et. And providing interim guidance and templates of simple commitment, self-assessment and summary evaluation. Conclusion However, on the downside, the IRS monitoring mechanism to assertions of the implementation of the employee performance management system has not been effected properly. The monitoring mechanism could provide useful information properly. A monitoring methodology should be developed, and once it’s set up it can be used for several years. This methodology can help prevent potential problems and can help avoid cost associated with employee performance (General account office 6). Works Cited Dun Bradstreet. Setting Up of a Performance Management System. Web. United States Office the Secretary of Commerce, Performance Management  System. Web. United States General Accounting Office, Performance Management System IRS’s  Systems for Frontline Employees and Managers Align with Strategic Goals but Improvements Can Be Made. Web. This essay on Performance Management Program was written and submitted by user Jefferson U. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

The Site Formation Processes in Archaeology

The Site Formation Processes in Archaeology Site Formation Processes- or more simply formation processes- refers to the events that created and affected an archaeological site before, during, and after its occupation by humans. To gain the best possible understanding of an archaeological site, researchers collect evidence of the natural and cultural events that happened there. A good metaphor for an archaeological site is a palimpsest, a medieval manuscript that has been written on, erased and written over, again and again, and again. Archaeological sites are the remains of human behaviors, stone tools, house foundations, and garbage piles, left behind after the occupants leave. However, each site was created in a specific environment- lakeshore, mountainside, cave, grassy plain. Each site was used and modified by the occupants- fires, houses, roads, cemeteries were built; farm fields were manured and plowed; feasts were held. Each site was eventually abandoned- as a result of climate change, flooding, disease. By the time the archaeologist arrives, the sites have lain abandoned for years or millennia, exposed to weather, animal burrowing, and human borrowing of the materials left behind. Site formation processes include all of that and quite a bit more. Natural Transforms As you might imagine, the nature and intensity of events that occurred at a site are highly variable. Archaeologist Michael B. Schiffer was the first to clearly articulate the concept in the 1980s, and he broadly divided site formations into the two major categories at work, natural and cultural transforms. Natural transforms are ongoing, and can be assigned to one of several broad categories; cultural ones can end, at abandonment or burial, but are infinite or close to it in their variety. Changes to a site caused by nature (Schiffer abbreviated them as N-Transforms) depend on the age of the site, the local climate (past and present), the location and setting, and the type and complexity of occupation. At prehistoric hunter-gatherer occupations, nature is the primary complicating element: mobile hunter-gatherers modify less of their local environment than do villagers or city dwellers. Types of Natural Transforms View of Point of Arches on the Ozette Reservation North of Cape Alava. John Fowler Pedogenesis, or the modification of mineral soils to incorporate organic elements, is an ongoing natural process. Soils constantly form and reform on exposed natural sediments, on human-made deposits, or on previously formed soils. Pedogenesis causes changes in color, texture, composition, and structure: in some cases, it creates immensely fertile soils such as terra preta, and Roman and medieval urban dark earth. Bioturbation, disturbance by plant, animal and insect life, is particularly difficult to account for, as shown by a number of experimental studies, most memorably with Barbara Boceks study of pocket gophers. She discovered that pocket gophers can repopulate the artifacts in a 1x2 meter pit backfilled by clean sand in the space of seven years. Site burial, the burial of a site by any number of natural forces, can have a positive effect on site preservation. Only a handful of cases are as well-preserved as the Roman site Pompeii: the Makah village of Ozette in Washington state in the US was buried by a mudflow about 1500 AD; the Maya site Joya de Ceren in El Salvador by ash deposits about 595 AD. More commonly, the flow of high- or low-energy water sources, lakes, rivers, streams, washes, disturb and/or bury archaeological sites. Chemical modifications are also a factor in site preservation. These include cementation of deposits by carbonate from groundwater, or iron precipitation/dissolution or diagenetic destruction of bone and organic materials; and the creation of secondary materials such as phosphates, carbonates, sulfates, and nitrates. Anthropogenic or Cultural Transforms The Pompeii of North America, Joya de Ceren, was buried in a volcanic eruption in August 595 CE. Ed Nellis Cultural transforms (C-Transforms) are far more complicated than natural transforms because they consist of a potentially infinite variety of activities. People build up (walls, plazas, kilns), dig down (trenches, wells, privies), set fires, plow and manure fields, and, worst of all (from an archaeological point of view) clean up after themselves. Investigating Site Formation To get a handle on all of these natural and cultural activities in the past that have blurred the site, archaeologists rely on an ever-growing group of research tools: the primary one is geoarchaeology. Geoarchaeology is a science allied with both physical geography and archaeology: it is concerned with understanding the physical setting of a site, including its position in the landscape, types of bedrock and Quaternary deposits, and the types of soils and sediments within and outside of the site. Geoarchaeological techniques are often carried out with the aid of satellite and aerial photography, maps (topographic, geological, soil survey, historical), as well as the suite of geophysical techniques such as magnetometry. Geoarchaeological Field Methods In the field, the geoarchaeologist conducts systematic description of cross-sections and profiles, to reconstruct stratigraphic events, their vertical and lateral variations, in and outside of the context of archaeological remains. Sometimes, geoarchaeological field units are placed off-site, in locations where lithostratigraphic and pedological evidence can be collected. The geoarchaeologist studies the site surroundings, description and stratigraphic correlation of the natural and cultural units, as well as sampling in the field for later micromorphological analysis and dating. Some studies collect blocks of intact soils, vertical and horizontal samples from their investigations, to take back to the laboratory where more controlled processing can be conducted than in the field. Grain size analysis and more recently soil micromorphological techniques, including thin section analysis of undisturbed sediments, are conducted using a petrological microscope, scanning electron microscopy, x-ray analyses such as microprobe and x-ray diffraction, and Fourier Transform infrared (FTIR) spectrometry. Bulk chemical (organic matter, phosphate, trace elements) and physical (density, magnetic susceptibility) analyses are used to incorporate or determine individual processes. Formation Process Studies Restudy of Mesolithic sites in Sudan excavated in the 1940s was conducted using modern techniques. The 1940s archaeologists commented that aridity had affected the sites so badly that there was no evidence of hearths or buildings or even post-holes of buildings. The new study applied micromorphological techniques and they were able to discern evidence of all of these types of features at the sites (Salvatori and colleagues). Deep-water shipwreck (defined as shipwrecks more than 60 meters deep) site formation processes have shown that the deposit of a shipwreck is a function of heading, speed, time, and water depth and can be predicted and measured using a set basic of equations (Church). Formation process studies at the 2nd century BC Sardinian site of Pauli Stincus revealed evidence of agricultural methods, including the use of a sodbuster and slash and burn farming (Nicosia and colleagues). The microenvironments of Neolithic lake dwellings in northern Greece were studied, revealing a previously unidentified response to rising and falling lake levels, with the residents building on platforms on stilts or directly on the ground as needed (Karkanas and colleagues). Sources Aubry, Thierry, et al. Palaeoenvironmental Forcing During the Middle-Upper Palaeolithic Transition in Central-Western Portugal. Quaternary Research 75.1 (2011): 66-79. Print. Bertran, Pascal, et al. Experimental Archaeology in a Mid-Latitude Periglacial Context: Insight into Site Formation and Taphonomic Processes. Journal of Archaeological Science 57 (2015): 283-301. Print. Bocek, Barbara. The Jasper Ridge . American Antiquity 57.2 (1992): 261-69. Print.Reexcavation Experiment:Â  Rates of Artifact Mixing by Rodents Church, Robert A. Deep-Water Shipwreck Initial Site Formation: The Equation of Site Distribution. Journal of Maritime Archaeology 9.1 (2014): 27-40. Print. Ismail-Meyer, Kristin, Philippe Rentzel, and Philipp Wiemann. Neolithic Lakeshore Settlements in Switzerland: New Insights on Site Formation Processes from Micromorphology. Geoarchaeology 28.4 (2013): 317-39. Print. Linstdter, J., et al. Chronostratigraphy, Site Formation Processes and Pollen Record of Ifri Netsedda, Ne Morocco. Quaternary International 410, Part A (2016): 6-29. Print. Nicosia, Cristiano, et al. Land Use History and Site Formation Processes at the Punic Site of Pauli Stincus in West Central Sardinia. Geoarchaeology 28.4 (2013): 373-93. Print.

What Contemporary Pressures or Influences have made 'Health and the Essay

What Contemporary Pressures or Influences have made 'Health and the use of illicit drugs' an Issue Health Policy Agenda - Essay Example . Although the mood altering drugs have been in use by the humans since several thousands of years, Australia had no illicit drugs consumption until 1950s. It was the American soldiers on vacation from Vietnam to Australia during 1960s who started spreading the use of cannabis and heroin in Australia. The Federal Senate’s approach during 1970s towards drugs use was that personal consumption of marijuana was not to be treated as a crime but the penalty could be monetary without any conviction record and also not to be used for punishment in repeat offences in future. But the Government did not approve (Pennington,1999). Australia was very vigorous right from the beginning going by the report of Cannabis arrests that almost rose by 1000 percent in New South Wales itself during 1966-1969. (Pennington,1999). This is quite encouraging but one fails to understand why in spite of the of tough attitude of the Government, use of illicit drugs are still widely prevalent in Australia. Thi s paper aims to trace the history of policy initiatives of successive Governments in Australia and examine contemporary pressures and issues that forces the present day Government to have the issue of illicit drugs as part of the country’s health policy. By virtue of being a U.N. member Australia has been influenced by the U.N. initiatives in connection with control of illicit drugs. Thus Australia has always been a signatory to various international treaties dealing with control of drugs such as Single Convention on Narcotic Drugs 1961of the U.N., Convention on Psychotropic Substances 1971 of the U.N. and United Nations Convention against Illicit Traffic in Narcotic Drugs and Psychotropic Substances 1988. The Single Convention of 1961 imposes obligations on the signatory States to make laws to implement the provisions of the Convention. One of them is

Englands involvement in the Enlightenment and its affect on the Research Paper

Englands involvement in the Enlightenment and its affect on the Constitution - Research Paper Example This revolution aimed at achieving high levels of tolerance and inclusiveness, (Mason p 40). The movement was sparked by Baruch Spinoza, Pierre Bayle, John Locke and Isaac Newton in 1600-1700. The movement flourished until the rise of romanticism which put more emphasis on emotion. From that moment, the anti-Enlightment gathered momentum but then the 18th century, (Apetrei 2010). John Locke was one of the most influential thinkers in England under this movement. He influenced many other thinkers such us Voltaire among others. He defined property as a natural right derived from labor, (Mason p10). Using this, he came up with a slogan life, liberty and property, (Apetrei p201). The Great Britain customized its own Enlightment, (Mason p201). The Protestants in England sought to express themselves in ways that kept on widening the freedom of speech and the media at large. Unitarians and Quakers who were radical opened new levels of open communication that caused Voltaire to imagine they were congenial. This happened when he was in exile there, (Kors 1987). England was able to experience the revolution and, therefore it proceeded with smoothness to the path of democracy. This smooth road to democracy in England proved to be a dynamite in the France because of the resistance from the church and state was strong, (Mason p210). This gave rise to a revolution in France. The irony is that, England maintained a society that was full of class advantages and privileges and pious. With time, the power of religion slowly decreased in England. In France, it was radically removed, (Apetrei p10). In 1780, the debating groups or societies began to grow rapidly in London, (Kors p87). This was the immediate impact of the Enlightment movement. Prior to that, the society was dictated by superstitions and a blind following of the state’s policies and culture, (Kors 1987). The levels of indolence were high, with the church and the state leading affairs through emotion and force. Groups of fifty or more people, men especially, met to discuss issues of the state, (Mason p210). Law students also set up mooting clubs to practice rhetoric and openly discuss issues that affect their lives and the lives of the other citizens. There was the birth of the spouting groups and clubs, (Mason p110). These helped actors in training for theatrical roles, (Apetrei p110). This gave way for citizens to express their sentiments through theatre and art, (Mason 2010). The laws students could openly challenge the government policies, and compared their government with other governments and constitutions. Outrageous sermons were made, which were open and free as more Protestants sought for space to express their opinions, (Mason 2010). This gave birth to the rise of human rights. People were beginning to be convinced that they are entitled to some basic values and standard by the estate, (Kors 1987). England in particular was notorious for having different classed of people of di fferent status. These classes had different privileges-based access to power and perception, (Mason 2010). The aim was to make the society embrace decency and order. It also sought to make people more liberal than they were. Debating societies welcomed up to 1200 people a night who were willing to share ordinary issues that affected their lives, (Apetrei p210). Besides, the groups

Newspapers Essay Example | Topics and Well Written Essays - 1000 words

Newspapers - Essay Example nic tragedy way back in 1912 and have shown how each of the three dailies The New York Times, Las Vegas Optic and Santa Fe New Mexican reported it in their 1912 third week of April publication. It was at midnight of the 14th of April 1912 that Titanic hit an iceberg and the rest was one of the worst and most tragic episodes recorded in history. The Titanic was considered to be the most ‘gigantic’ (The New York Times, p.1) luxury cruise-liners of the century that could never drown. But as fate would have it, Titanic went down taking along with it more than 1500 passengers including hundreds of women and children. It became the major news of the 1912s and dominated page 1 of almost all the dailies for weeks. Each of the newspaper houses hounded for more detailed news not only for making business but for delivering as much information as possible to the aggrieved families of the victims who were trying hard to know and connect to their relatives who were on board. The publication of The New York Times that came out on the 16th of April 1912 has provided a detailed account of the incident. The Headline ‘The Lost Titanic Being Towed out of Belfast Harbour’ with a picture of the luxury liner evokes a sense of irrevocable loss. The best part of The New York Times is that it adopts a style that suits the common man’s taste. The news is presented in conversational English that people can connect with. By focusing on every detail from the desperate attempts of the Captain, Captain Smith, to the helplessness of family and friends in trying to get in touch with their loved ones, it makes the tragedy all the more palpable to its readers. Every column informs about one or the other aspect of the accident that might help in understanding the death toll, the exact location and the condition of those who have been saved. It provides a list of those feared to be dead on the basis of the number of cabins and the passengers fitted in them. This bit of statistical data

Hypo Group Alpe Adria Analysis

Hypo Group Alpe Adria Analysis 1. General information about Hypo Group Alpe Adria Hypo Group Alpe Adria is an international financial group with more than 380 banking and leasing locations in twelve European countries: Austria, Italy, Slovenia, Croatia, Bosnia-Herzegovina, Serbia, Montenegro, Germany, Hungary, Bulgaria, Macedonia and the Ukraine. The group has a rich historical background. Roots of Hypo Group Alpe Adria date way back in 1896 when the group was founded. Consequently, it has accumulated more than one hundred years of business experience. In the beginning of its activities, it concentrated on financing public institutions and housing construction. Hypo KÃ ¤rnten as it was then known became a universal bank in 1982. In 1988 the Bank took the first step on the road to international expansion by opening a leasing subsidiary in Udine, Italy. It became a public limited company in 1991, and in 1992 Grazer Wechselseitige Versicherung joined the Province of Carinthia as the second shareholder. This marked the beginning of a new era for Hypo Alpe-Adria-Bank. With cross-border activities in twelve countries of the Alps Adriatic region[1], the Hypo Group Alpe Adria has a unique position in the economic area constituted by South Eastern Europe. Its network of branches and offices exists in Austria, Italy and Germany, from Slovenia through Croatia, Bosnia-Herzegovina, Serbia, Montenegro, Macedonia, Hungary, Bulgaria and the Ukraine. Business priorities in the operations of Hypo Group Alpe Adria are the strategic business sectors banking and leasing, with the focus on a common goal: contribution to the prosperity of the Alps Adriatic region and of the people living in it. Hypo Group Alpe Adria is committed to pursuing its goal of becoming the leading commercial bank in the Alps Adriatic region. 1.2. Mission and Strategy The mission of the Group is the following: instead of pursuing global presence as a goal, Hypo Group Alpe Adria is more locally oriented. In the Alps to Adriatic region, with its cross-border markets, it is local market knowledge at a very personal and emotional level, which is crucial. Personal contact with the customers represents the basis of mutual trust for the Group. For this reason the Group sees its relationships as partnerships, which extend far beyond simple money issues. According to the Group, success can only be achieved through human contacts, and it can only be measured in terms of personal relationships, so that partnership at a personal level is the Groups ultimate ideal. Hypo Group Alpe Adria leaves the goal of worldwide presence to the global players. As a leading regional player in the Alps to Adriatic area, it concentrates on the southeastern markets, with the motto banking business is peoples business, confirming its nonnegotiable customer orientation. Respecting differences, growing together and sharing successes with others these are the cornerstones of partnerships with customers on which the business structures of the Group are based. Having in mind that the fundamental strategy of the Group is to achieve growth in the Alps to Adriatic region, Hypo Group Alpe Adria has been pursuing its visionary strategy since 1993 with great success: to establish and develop a strong financial services Group in the Alps to Adriatic region which combines the highly developed Northern Italian, Germany and Austrian business cultures with growth market opportunities in Hungary, Slovenia, Croatia, Bosnia Herzegovina, Serbia, Montenegro, Bulgaria, Macedonia and the Ukraine. As a result, the Group plays a key role in directing funds and economic development to and in the region. Up till now, its successful expansion has given Hypo Group Alpe Adria intensive coverage of the areas, which in coming years will become its home markets. Additionally, long term involvement and commitment are priorities of the Group. Hypo Group Alpe Adria has established itself as a strong and reliable business partner in the Alps to Adriatic region. Its involvement in each country represents a long term commitment, so that businesses operating in any of these countries have the certainty and security they need in order to develop their activities. The Group is actively involved in developing local economies, and consequently, this contributes to the foundations of local prosperity. Furthermore, preserving independence and regional identity is one of the cornerstones of the Groups philosophy. This fact gives customers and business partners the certainty that they are handling their business with a dynamic and internationally minded bank which at the same time is at home in each of the individual regions. Hypo Group Alpe Adria is close to its customers in all the countries it operates in, thanks to its emphasis on independence and un-bureaucratic decentralized structures. 1.4. Regional presence of Hypo Group Alpe Adria It is important to underline that the expansion of Hypo Group Alpe Adria into its core market, the Alps to Adriatic Region, followed gradually. The establishment of the first Austrian bank branch in Vicenza (Italy), under EU law followed with Austrias accession to the EU in 1995. In the same year leasing companies were established in Ljubljana (Slovenia) and Zagreb (Croatia). In the upcoming years further leasing outlets were opened in Slovenia and the expansion of the branch network in Italy and Croatia. In 1997 the number of staff at Hypo Group Alpe Adria went over the barrier of five hundred employees, accompanied by the start of construction of the present Klagenfurt (Austria) headquarters, which was completed in three phases by 2002. By the beginning of the new millennium, Hypo Group Alpe Adria already employed over one thousand people. In the following year it entered the market in Bosnia and Herzegovina. In 2002, Hypo Group Alpe Adrias expansion penetrated into the market of Serbia and Montenegro. The Groups dynamic progress continued in 2003, when it was announced as investor of the year in Bosnia and Herzegovina, opened a leasing branch in Munich (Germany), founded the Biogaspark Alpe Adria and launched tourism initiatives in Carinthia (Austria), starting the Schlosshotel Velden project. Hypo Group Alpe Adria is today active in Austria, Italy, Croatia, Slovenia, Bosnia and Herzegovina, Serbia, Montenegro, Germany, Hungary, Bulgaria, Macedonia and Ukraine. In 2005 it numbered approximately 5000 employees at over 250 locations. The year of 2006 has been extremely important for the Group and it conducted strategically important expenditure decisions. It founded Hypo Alpe Adria Bank a.d. in Podgorica (Montenegro), Hypo Alpe-Adria-Rent d.o.o. in Belgrade (Serbia) and Hypo Alpe-Adria-Leasing OOD in Sofia (Bulgaria). The principal company of Hypo Group Alpe Adria is Hypo Alpe Adria Bank International AG, which has its head office in Klagenfurt (Austria). Its owners are BayernLB (67.08%), the GRAWE group (20.48%), KÃ ¤rntner Landesholding (12.42%) and Hypo Alpe Adria Mitarbeiter Privatstiftung (0.02%). The network of Hypo Group Alpe Adria currently has around 7,500 employees serving more than 1.3 million consumers. 2. Hypo Group Alpe Adria in Serbia Hypo Group Alpe Adria conducts its business activities in Serbia from 2002, as a part of the Hypo Alpe Adria Bank International AG Klagenfurt, which originally operated only in the territory of Austria. In the past couple of years, the Group began with its dynamic expansion in the international market, which consequently resulted in great success: the Group became one of the most successful financial institutions in the Alps Adriatic region, with approximately 7500 employees and more than 1.3 million clients in twelve countries. When we arrived to the Serbian market, we made a thorough analysis of finance, economy and legal sector, as well as the political situation of the country, based on which we have determined that Serbia will become one of the most important countries in our network. Serbia has enormous potential and we plan to invest in this country in the future and to become one of the leading financial institutions of the country. (Markus Ferstl, former Chairman of the Management Board of the Hypo Alpe Adria Bank a.d. Beograd) Having in mind that Hypo Group Alpe Adria`s strategic business sectors are banking and leasing, the Serbian market was firstly penetrated in the leasing sector. Leasing represents a relatively new form of financing in the Serbian market. Therefore, a leasing company bearing the name Hypo Alpe Adria Leasing d.o.o., was established in 2002, and it gained a leading position from the very beginning of its activities. The company remained the leader till present time with a cumulative market share of 35.19% in all segments of financing. Hypo Alpe Adria Leasing d.o.o. Beograd currently employs 136 people in affiliating offices throughout Serbia, including Belgrade, Novi Sad, Cacak, NiÃ… ¡, Subotica, Sombor, Zrenjanin, Becej, VrÃ… ¡c, Ã…  abac, Kragujevac and KruÃ… ¡evac. Additionally, not long after the establishment of Hypo Alpe Adria Leasing d.o.o. in Serbia, the bank by the name Hypo Alpe Adria Bank a.d. Beograd was founded in 2002. In just eight moths of business operations in Serbia, the newly founded bank achieved a growth rate of 853%, which exceeded all expectations. Hypo Alpe Adria Bank a.d. Beograd is currently one of the top five financial institutions in Serbia, with a market share of 8.55% and first-class and diversified portfolios. Additionally, it employs more than 800 people and has developed a rich business network consisting of affiliates in almost all bigger cities in Serbia, taking into consideration the headquarters of the company located in Belgrade, in the Business Center Usce where the other member companies of the Group are located[2]. Hypo Alpe Adria Securities a.d. Beograd was founded in 2004. The company is ranked among the top five broker companies in the market of shares and of old savings bonds trading. The youngest company of the Group is Hypo Alpe Adria Rent d.o.o. Beograd, which is the first financial institution in Serbia to offer the possibility of operational leasing for the clients. During the present research, special focus will be on the bank and the leasing company operating in within the system of Hypo Alpe Adria Group. 3. Hypo Alpe Adria Bank a.d. Beograd In order to proceed with the research on Hypo Alpe Adria Bank a.d. Beograd, it is necessary to explain the circumstances in which the banking sector in Serbia existed from 1990s till present time. Disintegration and collapse of socialist Yugoslavia in the beginning of the 1990s announced the so-called lost decade, meaning that major structural features and weaknesses of the banking system were preserved or additionally deteriorated and the overall situation became desperate. The main characteristics of 1990s were losses of markets, repeated wars, economic sanctions and international isolation of the country. Mismanagement and pervasive corruption were main factors, which contributed to the degeneration of the economy. After the major hyperinflation, which occurred in 1993 and 1994, 90 % of all bank loans were perceived as bad. Unprofitable and non-performing foreign currency balance sub-balances dominated balance sheets. One of the main priorities in the reform agenda of the new Serbian authorities, which took over in 2000 was bank restructuring. The essence of the strategy was to undertake bank rehabilitation and re-capitalization only in the cases when it was expected that the banks could be viable institutions with good prospects for privatization through sale to strategic investor at a reasonable price and only if it can be implemented with identifiable fiscal resources. In the beginning of 2002, Serbian authorities decided to conduct one of the boldest bank resolution measures undertaken in transition economies: they liquidated four large and deeply insolvent banks, which accounted for 60% of the book value of the sectors asset and for about two thirds of outstanding commercial credit to non financial sector. Furthermore, banking legislation and regulations were improved[3]. After the first major wave of reform, credit institutions have become more attentive in lending money to the real sector which was still very week. The government immediately acted on attracting foreign investors since there was an urgent need for such a thing. Consequently, from the late 2000 to December 2002, National Bank of Yugoslavia (the central bank) issued eight bank licenses, out of which seven were for the foreign owned banks. Internationalization and privatization of the Serbian banking industry continued in 2005. The share of the market accounted for by foreign banks rose to 67.52%. Out of the ten largest banks, seven are foreign. Successful sales of Serbian banks to foreign financial institutions provided a vigorous stimulus to the countrys banking industry. Total assets of all banks in 2005 jumped by 40.4% compared with the previous year, to 9.07 billion euros. Strong increases in lending to private and business customers were the main forces, which were driving growth. Progress was also made in restoring the confidence of domestic savers: total deposits at the end of 2005 amounted to 5 billion euros. Foreign banks which penetrated the Serbian market played an important role in restoring confidence in the sector and have gathered a significant share of new deposits. One of these banks was Hypo Alpe Adria Bank a.d. Beograd. Hypo Alpe-Adria Banks involvement in the Serbian market began in December 2002, when it acquired Depozitno-kreditna banka. The Austrian bank concluded the purchase of 86.6% of the Serbian Depozitno-Kreditna Banka, founded May 22nd 1991, whose registered offices were in Belgrade. At the shareholders meeting held on October 8th 2002, the Banks name was changed to Hypo Alpe-Adria-Bank a.d., the capital increase to EUR 5.5 million was resolved, and the new Supervisory Board was appointed. The headquarters of to Hypo Alpe-Adria-Bank a.d., the member of the Hypo Group (after Austria, Italy, Slovenia, Croatia, Bosnia-Herzegovina and Liechtenstein), are located in the new part of Belgrade New Belgrade. Referring to total assets, Hypo Alpe-Adria-Bank a.d. is Serbias fourth-largest bank with a market share of 6.47 %. Furthermore, approximately 900 employees are currently working for the Bank in a total of forty-one branch offices throughout Serbia. Market share of top five banks in Serbia (Source: National Bank of Serbia available at http://www.nbs.rs/export/internet/latinica/50/50_5.html) After just several months of its operations in Serbia, the Bank has established itself as a recognizable part of the Serbian financial scene. In its first two years of its activities, Hypo concentrated on corporate customers. The Bank has achieved a particular competitive advantage in the corporate sector with its long-term investment lending. Efforts to develop private customer business began in 2004. The specific focus gradually switched to the housing construction market, which was performing excellently. When we arrived to the Serbian market in 2002, we were among the first ones and there had been only six foreign banks operating in the market. We have used that window of opportunity, the situation when there had been few foreign banks present, in order to develop our credit portfolio. In that period, we had the opportunity to finance some of the most successful companies in Serbia, as well as to develop well-balanced portfolio, which we diversified over the years. Special attention was dedicated to retail sector, mostly in the field of house loans. Additionally, we have formed a special unit for financing of small and medium sized enterprises and this has become one of our corporate priorities, having in mind that these companies are often suppliers and partners of the big companies we already cooperate with. Other than that, our focus is on food industry, agriculture, pharmaceutical and chemical industry. (Vladimir Cupic, Chairman of the Management Board of the Hypo Alpe Adria Bank a.d. Beograd) The Bank is organized in the following sectors and departments: Corporate sector Retail sector Sector of financing public enterprises and local community units Treasury sector Investment banking HR department Economic analysis department Sector settlement Market support sector Logistics sector Sector of organization and information technology Legal department Department of business control harmonization Marketing department The research process will only incorporate the sectors, which are relevant for the research question of the thesis. 3.1. Corporate sector From the very beginning of its operations in Serbia, the Bank has established an extremely developed corporate sector, which quickly expanded in the sense of different departments within the sector, as well as the number of employees. The corporate sector of Hypo Alpe Adria Bank quickly achieved competitive advantage in comparison to other banks in Serbia. Various departments are organized within the sector: Credit department Small and medium enterprises (transferred to the Retail sector in 2006) International financing Products and services of the corporate sector are concentrated on the client and its needs, and include the following: Investment loans (loans approved for the purpose of purchase of machines, equipment, land, real estate) Framework loans (exceeding permissible minus on the account, eskont of bills and revolving lines) Documentary operations (guarantees, credits, purchase of receivables and inkaso) Loans for working capital Till 2006 Hypo Alpe Adria Bank mainly focused on long term corporate loans, which were given to the big corporate clients. Since then, it strategically refocused on small and medium sized enterprises and expanded its offer of products. Corporate sector is known for its extremely innovative products and services offered to the clients. The innovation, which was introduced by the Bank in the market of Serbia, is the so-called cross border financing. This type of financing is dedicated to the clients that operate in more than two countries. The financing capital is actually provided from outside Serbia and offered to the clients under much better conditions than the ones, which are present in the Serbian market. Additionally, the Bank provides special guarantees for the clients within the Hypo Group, and in this way supports their business activities in other countries. Furthermore, another product, which is particularly innovative, was introduced in 2004 and it is called the revolving line. By using this product, clients are automatically enabled to use other additional products, according to their needs (dinar and foreign currency loans, working capital loans, guarantees etc.). The revolving line can be used by big corporate clients, as well as small and medium sized enterprises and entrepreneurs. Being a strategic branch of the Serbian economy, agriculture is one of the top priorities of the corporate sector. The Bank has been extremely active in financing agricultural production: individual agricultural manufacturers have the possibility to finance basic and working capital. Cross selling activities refer to the presentation of banks products from other sectors within the Bank. Acquisition of new clients also represents one of the fundamental operations of the corporate sector. It is particularly important since it is the basis of the planned growth of deposits, as the fundamentals for the primary sources. Special attention within the sector is dedicated to project and structural financing, like: financing of projects for the market or long term exploitation, purchase of shares, mergers / acquisitions of companies. 3.2. Human resource (HR) department and relationship towards employees HR department of Hypo Alpe Adria Bank was established in May of 2003 and has developed its activities at a very rapid pace, due to the fact that the number of employees was increasing intensively. In the very beginning of its operations in Serbia, the bank had a total of 27 employees and in just one year the number increased to 323 employees. In 2005, the growth trend continued and the number of the bank staff reached 531 people. Finally, on the closing date, 31 December 2008, Hypo Alpe-Adria-Bank a.d., Beograd had 871 employees. The increase of the number of employees is the result of the extension of the branch office network. Furthermore, additional employees were recruited in the headquarters to cater for the increasing customer demands. Within the initial process of selection and engagement of young experts, 600 potential candidates have been interviewed. Furthermore, database containing more than 1500 biographies of interested candidates was created, which points out to the fact that young people of Serbia are very keen on participating in the creation of modern multinational companies. One of the key priorities of the HR department from the very beginning of its existence was to enable quick integration of new employees into the system. Secondly, the Bank immediately started with the implementation of the Hypo standards, creation of the corporate identity and team atmosphere in the institution. Additionally, a very important strategic goal for the department was to become the source of educational staff, which would be capable of taking on new jobs, initiatives and development. In that sense, many of the employees, who have already acquired standards of the corporation and business modalities, have obtained leading positions within the Bank as the heads of various sectors. As far as the age structure is concerned, majority of employees of the Bank belong to the age group 30 39 years old, as it is shown in the diagram below. Additionally, 47% of all employees have acquired university education, while 33% of employees have secondary education. Activities of HR department are focused in three directions: administration, finance and education. In the area of administration, the department is handling recruitment process and hiring of new people who are competent and can contribute to the environment of the Bank. In the field of finance, the so called time management program is being implemented within the department, referring to the planning of the budget which will be used for the purpose of staff education and various bonus systems realized through completed targets. Having in mind the fact that, contemporary flows of banking operations worldwide demand constant education of the staff in all areas of the business, HR department takes particular notice of education of employees. The department is conducting educational trainings in various forms: motivation trainings, special skills development courses and language courses. This contributes to the raising of the efficiency level of the staff. Educational trainings are organized internally and externally. Some of the most important types of trainings, depending on the sector are: Cross selling courses Microsoft Office Excel seminars Insurance trainings, which enables the participants to obtain the license of the insurance mediator Small and medium sized enterprises trainings Seminars for the sale of pension and investment funds CDO`s and Credit linked trainings Specialist courses MCPD and MCITP Database Administrator for staff in the sector for informational technologies System Oriented Management course 1 and 2 Optional modules Top executive Education Public Finance Basic Training Project management Train the Trainer Project Management for Top Management Cross selling courses for account managers are particularly important for the activities of the Bank, in order to introduce existing clients of the Bank with new products and services. In this way, account managers tend to ensure that the additional product or service is being sold to the client, while at the same time enhancing the value the client gets from the Bank. Moreover, employees have the opportunity of expanding their knowledge in seminars jointly organized in cooperation with relevant public institutions, such as the National bank of Serbia, Association of Banks in Serbia, Serbian Chamber of Commerce, Institute for Business research and other external providers, as well as trainings related to international accounting standards. Having in mind that the Bank operates in twelve countries and that everyday communication involves the use of foreign languages, English courses are provided for all employees, at the expense of the Company. Additionally, certain numbers of employees who occupy the positions, which are directly linked to the headquarters of the Group in Austria, take courses of German language, whose expenses are also borne by the Company. Particularly relevant project of the department was realized in 2008, when the Bank established its internal employee training center. The main goal of the project was to make the best possible use of the existing knowledge and the practical experience of the staff. The center was formed in order to initiate internal transfer of knowledge among employees, information sharing, better communication, which consequently leads to better work performance and improvement of inter-personal relations within the Bank. This modern and completely technically equipped space is intended for internal and in house trainings, seminars and workshops for employees. Additionally, several types of trainings are conducted within the Center: cross selling workshops, Hypo 1 a tool which helps the staff get acquainted about other sectors besides their own, small and medium size enterprises trainings, etc. In just three months after its opening, more than 400 employees have participated in organized trai nings, and in one year more than 900 employees successfully passed over 30 internal educational and development programs of the center, which consequently justified the original expectations set by the management of the Bank. In addition, there is no doubt that one of the key priorities of the Bank is employee satisfaction. HR department in Hypo Bank actively conducts the employee assessment programs, which are incorporated in the employee satisfaction program. Originally, the program was based on yearly interviews of employees and their superiors on the subject of work efficiency and success, through self evaluation done by the employee, and the evaluation obtained from the superior. In order to upgrade the program, in 2007 HR department decided to introduce new actions. One of these actions was employee satisfaction survey. This type of survey is conducted among all employees in the end of every working year, and concentrates on the four most important areas of employee satisfaction: general satisfaction with work and work conditions, communication and interpersonal relations, leadership, bonus systems and career opportunities. Achieved results from the survey serve as the basis for strategy planning for the upcoming years. This is particularly important in order to include the opinion of the staff in the process of future strategy defining and decision making, so that everyone can benefit from it. Furthermore, obtained results were than given to the HR agency Advance Response International that deals with HR issues, and in this way anonymity and objectivity of the research was achieved. At this point, it is necessary to highlight that Hypo Bank has developed cooperation with several human resource agencies for the purpose of various types of train ings: project management, leadership and management, credit and market risk, etc. Asides from the efforts, which are focused on the improvement of communication among employees, inter-personal relations and management, the management of the Bank puts special emphasis on professional development of the middle and top management members. For that purpose, development center operating within the HR department was established in order to assess development necessities of the staff belonging to these levels of management. The center analyses results of interviews, surveys and supervisors suggestions, and consequently creates individual development plan for every employee. Another type of development plan created in the center, is team development plan, which is implemented on the entire teams working in specific sectors. In order to do business well, you need to have products of good quality, but asides from that, you need to have excellent staff. Therefore, we invest a lot in education and training of our employees. For example, in the second quarter of 2006, we realized a special trainee project. We hired motivated young people who had just completed their university education and we enabled them to pass specific trainings throughout the entire Group in two years, in order to get familiar with every aspect of the company business activities. They didnt have trainings only in Serbia; they also visited other Hypo companies abroad. As we often like to say in the Group: our greatest assets are our employees and for that reason we will continue to invest in their internal and external education. (Marija Sutanovac, Head of the HR department of the Hypo Alpe Adria Bank a.d. Beograd). Important point, which should be highlighted in this section, is opportunity for scholarships for university education of employees. Each year Bank supports further education of thirty selected employees and provides funding for their studies. This program represents a special kind of acknowledgement for talented and hard working employees. Furthermore, in cooperation with the Serbian Business Club Privrednik[4], the Bank provides scholarships for ten students, which are not employees of the bank, and in this way shows its support directed to the young people of Serbia. In this way, talented and perspective students have the opportunity to be in touch with the people from the most significant and influential companies in Serbia, and can find employment opportunities upon their graduation asides form their scholarships. 3.3. Marketing department and relationship towards clients Marketing department had a challenging task of providing support to all business activities of the Bank, once it penetrated the Serbian market. The key priority of the department was to create a positive image of the Hypo Bank, as well as to inform the Serbian population about its products and services. Corporate image strategy emphasized values of the bank: its tradition, innovative approach to business, Alps-Adriatic philosophy based on the regional banking client focus, partnership, security, corporate responsibility and independence. The main focus of the department was to create and promote the corporate image, which emphasizes that Hypo Alpe Adria Bank a.d. Beograd takes care of its clients in the same way as it takes care of its employees, and that it is a reliable partner who nurtures the local community in which it exists. The main element of the departments strategy was to create two-way communication with the clients: to reach the clients, and to hear their needs as well. For that purpose, the Bank introduced a special program called clients suggestions. Clients of the Bank have the possibility of sending their suggestions, comments, Hypo Group Alpe Adria Analysis Hypo Group Alpe Adria Analysis 1. General information about Hypo Group Alpe Adria Hypo Group Alpe Adria is an international financial group with more than 380 banking and leasing locations in twelve European countries: Austria, Italy, Slovenia, Croatia, Bosnia-Herzegovina, Serbia, Montenegro, Germany, Hungary, Bulgaria, Macedonia and the Ukraine. The group has a rich historical background. Roots of Hypo Group Alpe Adria date way back in 1896 when the group was founded. Consequently, it has accumulated more than one hundred years of business experience. In the beginning of its activities, it concentrated on financing public institutions and housing construction. Hypo KÃ ¤rnten as it was then known became a universal bank in 1982. In 1988 the Bank took the first step on the road to international expansion by opening a leasing subsidiary in Udine, Italy. It became a public limited company in 1991, and in 1992 Grazer Wechselseitige Versicherung joined the Province of Carinthia as the second shareholder. This marked the beginning of a new era for Hypo Alpe-Adria-Bank. With cross-border activities in twelve countries of the Alps Adriatic region[1], the Hypo Group Alpe Adria has a unique position in the economic area constituted by South Eastern Europe. Its network of branches and offices exists in Austria, Italy and Germany, from Slovenia through Croatia, Bosnia-Herzegovina, Serbia, Montenegro, Macedonia, Hungary, Bulgaria and the Ukraine. Business priorities in the operations of Hypo Group Alpe Adria are the strategic business sectors banking and leasing, with the focus on a common goal: contribution to the prosperity of the Alps Adriatic region and of the people living in it. Hypo Group Alpe Adria is committed to pursuing its goal of becoming the leading commercial bank in the Alps Adriatic region. 1.2. Mission and Strategy The mission of the Group is the following: instead of pursuing global presence as a goal, Hypo Group Alpe Adria is more locally oriented. In the Alps to Adriatic region, with its cross-border markets, it is local market knowledge at a very personal and emotional level, which is crucial. Personal contact with the customers represents the basis of mutual trust for the Group. For this reason the Group sees its relationships as partnerships, which extend far beyond simple money issues. According to the Group, success can only be achieved through human contacts, and it can only be measured in terms of personal relationships, so that partnership at a personal level is the Groups ultimate ideal. Hypo Group Alpe Adria leaves the goal of worldwide presence to the global players. As a leading regional player in the Alps to Adriatic area, it concentrates on the southeastern markets, with the motto banking business is peoples business, confirming its nonnegotiable customer orientation. Respecting differences, growing together and sharing successes with others these are the cornerstones of partnerships with customers on which the business structures of the Group are based. Having in mind that the fundamental strategy of the Group is to achieve growth in the Alps to Adriatic region, Hypo Group Alpe Adria has been pursuing its visionary strategy since 1993 with great success: to establish and develop a strong financial services Group in the Alps to Adriatic region which combines the highly developed Northern Italian, Germany and Austrian business cultures with growth market opportunities in Hungary, Slovenia, Croatia, Bosnia Herzegovina, Serbia, Montenegro, Bulgaria, Macedonia and the Ukraine. As a result, the Group plays a key role in directing funds and economic development to and in the region. Up till now, its successful expansion has given Hypo Group Alpe Adria intensive coverage of the areas, which in coming years will become its home markets. Additionally, long term involvement and commitment are priorities of the Group. Hypo Group Alpe Adria has established itself as a strong and reliable business partner in the Alps to Adriatic region. Its involvement in each country represents a long term commitment, so that businesses operating in any of these countries have the certainty and security they need in order to develop their activities. The Group is actively involved in developing local economies, and consequently, this contributes to the foundations of local prosperity. Furthermore, preserving independence and regional identity is one of the cornerstones of the Groups philosophy. This fact gives customers and business partners the certainty that they are handling their business with a dynamic and internationally minded bank which at the same time is at home in each of the individual regions. Hypo Group Alpe Adria is close to its customers in all the countries it operates in, thanks to its emphasis on independence and un-bureaucratic decentralized structures. 1.4. Regional presence of Hypo Group Alpe Adria It is important to underline that the expansion of Hypo Group Alpe Adria into its core market, the Alps to Adriatic Region, followed gradually. The establishment of the first Austrian bank branch in Vicenza (Italy), under EU law followed with Austrias accession to the EU in 1995. In the same year leasing companies were established in Ljubljana (Slovenia) and Zagreb (Croatia). In the upcoming years further leasing outlets were opened in Slovenia and the expansion of the branch network in Italy and Croatia. In 1997 the number of staff at Hypo Group Alpe Adria went over the barrier of five hundred employees, accompanied by the start of construction of the present Klagenfurt (Austria) headquarters, which was completed in three phases by 2002. By the beginning of the new millennium, Hypo Group Alpe Adria already employed over one thousand people. In the following year it entered the market in Bosnia and Herzegovina. In 2002, Hypo Group Alpe Adrias expansion penetrated into the market of Serbia and Montenegro. The Groups dynamic progress continued in 2003, when it was announced as investor of the year in Bosnia and Herzegovina, opened a leasing branch in Munich (Germany), founded the Biogaspark Alpe Adria and launched tourism initiatives in Carinthia (Austria), starting the Schlosshotel Velden project. Hypo Group Alpe Adria is today active in Austria, Italy, Croatia, Slovenia, Bosnia and Herzegovina, Serbia, Montenegro, Germany, Hungary, Bulgaria, Macedonia and Ukraine. In 2005 it numbered approximately 5000 employees at over 250 locations. The year of 2006 has been extremely important for the Group and it conducted strategically important expenditure decisions. It founded Hypo Alpe Adria Bank a.d. in Podgorica (Montenegro), Hypo Alpe-Adria-Rent d.o.o. in Belgrade (Serbia) and Hypo Alpe-Adria-Leasing OOD in Sofia (Bulgaria). The principal company of Hypo Group Alpe Adria is Hypo Alpe Adria Bank International AG, which has its head office in Klagenfurt (Austria). Its owners are BayernLB (67.08%), the GRAWE group (20.48%), KÃ ¤rntner Landesholding (12.42%) and Hypo Alpe Adria Mitarbeiter Privatstiftung (0.02%). The network of Hypo Group Alpe Adria currently has around 7,500 employees serving more than 1.3 million consumers. 2. Hypo Group Alpe Adria in Serbia Hypo Group Alpe Adria conducts its business activities in Serbia from 2002, as a part of the Hypo Alpe Adria Bank International AG Klagenfurt, which originally operated only in the territory of Austria. In the past couple of years, the Group began with its dynamic expansion in the international market, which consequently resulted in great success: the Group became one of the most successful financial institutions in the Alps Adriatic region, with approximately 7500 employees and more than 1.3 million clients in twelve countries. When we arrived to the Serbian market, we made a thorough analysis of finance, economy and legal sector, as well as the political situation of the country, based on which we have determined that Serbia will become one of the most important countries in our network. Serbia has enormous potential and we plan to invest in this country in the future and to become one of the leading financial institutions of the country. (Markus Ferstl, former Chairman of the Management Board of the Hypo Alpe Adria Bank a.d. Beograd) Having in mind that Hypo Group Alpe Adria`s strategic business sectors are banking and leasing, the Serbian market was firstly penetrated in the leasing sector. Leasing represents a relatively new form of financing in the Serbian market. Therefore, a leasing company bearing the name Hypo Alpe Adria Leasing d.o.o., was established in 2002, and it gained a leading position from the very beginning of its activities. The company remained the leader till present time with a cumulative market share of 35.19% in all segments of financing. Hypo Alpe Adria Leasing d.o.o. Beograd currently employs 136 people in affiliating offices throughout Serbia, including Belgrade, Novi Sad, Cacak, NiÃ… ¡, Subotica, Sombor, Zrenjanin, Becej, VrÃ… ¡c, Ã…  abac, Kragujevac and KruÃ… ¡evac. Additionally, not long after the establishment of Hypo Alpe Adria Leasing d.o.o. in Serbia, the bank by the name Hypo Alpe Adria Bank a.d. Beograd was founded in 2002. In just eight moths of business operations in Serbia, the newly founded bank achieved a growth rate of 853%, which exceeded all expectations. Hypo Alpe Adria Bank a.d. Beograd is currently one of the top five financial institutions in Serbia, with a market share of 8.55% and first-class and diversified portfolios. Additionally, it employs more than 800 people and has developed a rich business network consisting of affiliates in almost all bigger cities in Serbia, taking into consideration the headquarters of the company located in Belgrade, in the Business Center Usce where the other member companies of the Group are located[2]. Hypo Alpe Adria Securities a.d. Beograd was founded in 2004. The company is ranked among the top five broker companies in the market of shares and of old savings bonds trading. The youngest company of the Group is Hypo Alpe Adria Rent d.o.o. Beograd, which is the first financial institution in Serbia to offer the possibility of operational leasing for the clients. During the present research, special focus will be on the bank and the leasing company operating in within the system of Hypo Alpe Adria Group. 3. Hypo Alpe Adria Bank a.d. Beograd In order to proceed with the research on Hypo Alpe Adria Bank a.d. Beograd, it is necessary to explain the circumstances in which the banking sector in Serbia existed from 1990s till present time. Disintegration and collapse of socialist Yugoslavia in the beginning of the 1990s announced the so-called lost decade, meaning that major structural features and weaknesses of the banking system were preserved or additionally deteriorated and the overall situation became desperate. The main characteristics of 1990s were losses of markets, repeated wars, economic sanctions and international isolation of the country. Mismanagement and pervasive corruption were main factors, which contributed to the degeneration of the economy. After the major hyperinflation, which occurred in 1993 and 1994, 90 % of all bank loans were perceived as bad. Unprofitable and non-performing foreign currency balance sub-balances dominated balance sheets. One of the main priorities in the reform agenda of the new Serbian authorities, which took over in 2000 was bank restructuring. The essence of the strategy was to undertake bank rehabilitation and re-capitalization only in the cases when it was expected that the banks could be viable institutions with good prospects for privatization through sale to strategic investor at a reasonable price and only if it can be implemented with identifiable fiscal resources. In the beginning of 2002, Serbian authorities decided to conduct one of the boldest bank resolution measures undertaken in transition economies: they liquidated four large and deeply insolvent banks, which accounted for 60% of the book value of the sectors asset and for about two thirds of outstanding commercial credit to non financial sector. Furthermore, banking legislation and regulations were improved[3]. After the first major wave of reform, credit institutions have become more attentive in lending money to the real sector which was still very week. The government immediately acted on attracting foreign investors since there was an urgent need for such a thing. Consequently, from the late 2000 to December 2002, National Bank of Yugoslavia (the central bank) issued eight bank licenses, out of which seven were for the foreign owned banks. Internationalization and privatization of the Serbian banking industry continued in 2005. The share of the market accounted for by foreign banks rose to 67.52%. Out of the ten largest banks, seven are foreign. Successful sales of Serbian banks to foreign financial institutions provided a vigorous stimulus to the countrys banking industry. Total assets of all banks in 2005 jumped by 40.4% compared with the previous year, to 9.07 billion euros. Strong increases in lending to private and business customers were the main forces, which were driving growth. Progress was also made in restoring the confidence of domestic savers: total deposits at the end of 2005 amounted to 5 billion euros. Foreign banks which penetrated the Serbian market played an important role in restoring confidence in the sector and have gathered a significant share of new deposits. One of these banks was Hypo Alpe Adria Bank a.d. Beograd. Hypo Alpe-Adria Banks involvement in the Serbian market began in December 2002, when it acquired Depozitno-kreditna banka. The Austrian bank concluded the purchase of 86.6% of the Serbian Depozitno-Kreditna Banka, founded May 22nd 1991, whose registered offices were in Belgrade. At the shareholders meeting held on October 8th 2002, the Banks name was changed to Hypo Alpe-Adria-Bank a.d., the capital increase to EUR 5.5 million was resolved, and the new Supervisory Board was appointed. The headquarters of to Hypo Alpe-Adria-Bank a.d., the member of the Hypo Group (after Austria, Italy, Slovenia, Croatia, Bosnia-Herzegovina and Liechtenstein), are located in the new part of Belgrade New Belgrade. Referring to total assets, Hypo Alpe-Adria-Bank a.d. is Serbias fourth-largest bank with a market share of 6.47 %. Furthermore, approximately 900 employees are currently working for the Bank in a total of forty-one branch offices throughout Serbia. Market share of top five banks in Serbia (Source: National Bank of Serbia available at http://www.nbs.rs/export/internet/latinica/50/50_5.html) After just several months of its operations in Serbia, the Bank has established itself as a recognizable part of the Serbian financial scene. In its first two years of its activities, Hypo concentrated on corporate customers. The Bank has achieved a particular competitive advantage in the corporate sector with its long-term investment lending. Efforts to develop private customer business began in 2004. The specific focus gradually switched to the housing construction market, which was performing excellently. When we arrived to the Serbian market in 2002, we were among the first ones and there had been only six foreign banks operating in the market. We have used that window of opportunity, the situation when there had been few foreign banks present, in order to develop our credit portfolio. In that period, we had the opportunity to finance some of the most successful companies in Serbia, as well as to develop well-balanced portfolio, which we diversified over the years. Special attention was dedicated to retail sector, mostly in the field of house loans. Additionally, we have formed a special unit for financing of small and medium sized enterprises and this has become one of our corporate priorities, having in mind that these companies are often suppliers and partners of the big companies we already cooperate with. Other than that, our focus is on food industry, agriculture, pharmaceutical and chemical industry. (Vladimir Cupic, Chairman of the Management Board of the Hypo Alpe Adria Bank a.d. Beograd) The Bank is organized in the following sectors and departments: Corporate sector Retail sector Sector of financing public enterprises and local community units Treasury sector Investment banking HR department Economic analysis department Sector settlement Market support sector Logistics sector Sector of organization and information technology Legal department Department of business control harmonization Marketing department The research process will only incorporate the sectors, which are relevant for the research question of the thesis. 3.1. Corporate sector From the very beginning of its operations in Serbia, the Bank has established an extremely developed corporate sector, which quickly expanded in the sense of different departments within the sector, as well as the number of employees. The corporate sector of Hypo Alpe Adria Bank quickly achieved competitive advantage in comparison to other banks in Serbia. Various departments are organized within the sector: Credit department Small and medium enterprises (transferred to the Retail sector in 2006) International financing Products and services of the corporate sector are concentrated on the client and its needs, and include the following: Investment loans (loans approved for the purpose of purchase of machines, equipment, land, real estate) Framework loans (exceeding permissible minus on the account, eskont of bills and revolving lines) Documentary operations (guarantees, credits, purchase of receivables and inkaso) Loans for working capital Till 2006 Hypo Alpe Adria Bank mainly focused on long term corporate loans, which were given to the big corporate clients. Since then, it strategically refocused on small and medium sized enterprises and expanded its offer of products. Corporate sector is known for its extremely innovative products and services offered to the clients. The innovation, which was introduced by the Bank in the market of Serbia, is the so-called cross border financing. This type of financing is dedicated to the clients that operate in more than two countries. The financing capital is actually provided from outside Serbia and offered to the clients under much better conditions than the ones, which are present in the Serbian market. Additionally, the Bank provides special guarantees for the clients within the Hypo Group, and in this way supports their business activities in other countries. Furthermore, another product, which is particularly innovative, was introduced in 2004 and it is called the revolving line. By using this product, clients are automatically enabled to use other additional products, according to their needs (dinar and foreign currency loans, working capital loans, guarantees etc.). The revolving line can be used by big corporate clients, as well as small and medium sized enterprises and entrepreneurs. Being a strategic branch of the Serbian economy, agriculture is one of the top priorities of the corporate sector. The Bank has been extremely active in financing agricultural production: individual agricultural manufacturers have the possibility to finance basic and working capital. Cross selling activities refer to the presentation of banks products from other sectors within the Bank. Acquisition of new clients also represents one of the fundamental operations of the corporate sector. It is particularly important since it is the basis of the planned growth of deposits, as the fundamentals for the primary sources. Special attention within the sector is dedicated to project and structural financing, like: financing of projects for the market or long term exploitation, purchase of shares, mergers / acquisitions of companies. 3.2. Human resource (HR) department and relationship towards employees HR department of Hypo Alpe Adria Bank was established in May of 2003 and has developed its activities at a very rapid pace, due to the fact that the number of employees was increasing intensively. In the very beginning of its operations in Serbia, the bank had a total of 27 employees and in just one year the number increased to 323 employees. In 2005, the growth trend continued and the number of the bank staff reached 531 people. Finally, on the closing date, 31 December 2008, Hypo Alpe-Adria-Bank a.d., Beograd had 871 employees. The increase of the number of employees is the result of the extension of the branch office network. Furthermore, additional employees were recruited in the headquarters to cater for the increasing customer demands. Within the initial process of selection and engagement of young experts, 600 potential candidates have been interviewed. Furthermore, database containing more than 1500 biographies of interested candidates was created, which points out to the fact that young people of Serbia are very keen on participating in the creation of modern multinational companies. One of the key priorities of the HR department from the very beginning of its existence was to enable quick integration of new employees into the system. Secondly, the Bank immediately started with the implementation of the Hypo standards, creation of the corporate identity and team atmosphere in the institution. Additionally, a very important strategic goal for the department was to become the source of educational staff, which would be capable of taking on new jobs, initiatives and development. In that sense, many of the employees, who have already acquired standards of the corporation and business modalities, have obtained leading positions within the Bank as the heads of various sectors. As far as the age structure is concerned, majority of employees of the Bank belong to the age group 30 39 years old, as it is shown in the diagram below. Additionally, 47% of all employees have acquired university education, while 33% of employees have secondary education. Activities of HR department are focused in three directions: administration, finance and education. In the area of administration, the department is handling recruitment process and hiring of new people who are competent and can contribute to the environment of the Bank. In the field of finance, the so called time management program is being implemented within the department, referring to the planning of the budget which will be used for the purpose of staff education and various bonus systems realized through completed targets. Having in mind the fact that, contemporary flows of banking operations worldwide demand constant education of the staff in all areas of the business, HR department takes particular notice of education of employees. The department is conducting educational trainings in various forms: motivation trainings, special skills development courses and language courses. This contributes to the raising of the efficiency level of the staff. Educational trainings are organized internally and externally. Some of the most important types of trainings, depending on the sector are: Cross selling courses Microsoft Office Excel seminars Insurance trainings, which enables the participants to obtain the license of the insurance mediator Small and medium sized enterprises trainings Seminars for the sale of pension and investment funds CDO`s and Credit linked trainings Specialist courses MCPD and MCITP Database Administrator for staff in the sector for informational technologies System Oriented Management course 1 and 2 Optional modules Top executive Education Public Finance Basic Training Project management Train the Trainer Project Management for Top Management Cross selling courses for account managers are particularly important for the activities of the Bank, in order to introduce existing clients of the Bank with new products and services. In this way, account managers tend to ensure that the additional product or service is being sold to the client, while at the same time enhancing the value the client gets from the Bank. Moreover, employees have the opportunity of expanding their knowledge in seminars jointly organized in cooperation with relevant public institutions, such as the National bank of Serbia, Association of Banks in Serbia, Serbian Chamber of Commerce, Institute for Business research and other external providers, as well as trainings related to international accounting standards. Having in mind that the Bank operates in twelve countries and that everyday communication involves the use of foreign languages, English courses are provided for all employees, at the expense of the Company. Additionally, certain numbers of employees who occupy the positions, which are directly linked to the headquarters of the Group in Austria, take courses of German language, whose expenses are also borne by the Company. Particularly relevant project of the department was realized in 2008, when the Bank established its internal employee training center. The main goal of the project was to make the best possible use of the existing knowledge and the practical experience of the staff. The center was formed in order to initiate internal transfer of knowledge among employees, information sharing, better communication, which consequently leads to better work performance and improvement of inter-personal relations within the Bank. This modern and completely technically equipped space is intended for internal and in house trainings, seminars and workshops for employees. Additionally, several types of trainings are conducted within the Center: cross selling workshops, Hypo 1 a tool which helps the staff get acquainted about other sectors besides their own, small and medium size enterprises trainings, etc. In just three months after its opening, more than 400 employees have participated in organized trai nings, and in one year more than 900 employees successfully passed over 30 internal educational and development programs of the center, which consequently justified the original expectations set by the management of the Bank. In addition, there is no doubt that one of the key priorities of the Bank is employee satisfaction. HR department in Hypo Bank actively conducts the employee assessment programs, which are incorporated in the employee satisfaction program. Originally, the program was based on yearly interviews of employees and their superiors on the subject of work efficiency and success, through self evaluation done by the employee, and the evaluation obtained from the superior. In order to upgrade the program, in 2007 HR department decided to introduce new actions. One of these actions was employee satisfaction survey. This type of survey is conducted among all employees in the end of every working year, and concentrates on the four most important areas of employee satisfaction: general satisfaction with work and work conditions, communication and interpersonal relations, leadership, bonus systems and career opportunities. Achieved results from the survey serve as the basis for strategy planning for the upcoming years. This is particularly important in order to include the opinion of the staff in the process of future strategy defining and decision making, so that everyone can benefit from it. Furthermore, obtained results were than given to the HR agency Advance Response International that deals with HR issues, and in this way anonymity and objectivity of the research was achieved. At this point, it is necessary to highlight that Hypo Bank has developed cooperation with several human resource agencies for the purpose of various types of train ings: project management, leadership and management, credit and market risk, etc. Asides from the efforts, which are focused on the improvement of communication among employees, inter-personal relations and management, the management of the Bank puts special emphasis on professional development of the middle and top management members. For that purpose, development center operating within the HR department was established in order to assess development necessities of the staff belonging to these levels of management. The center analyses results of interviews, surveys and supervisors suggestions, and consequently creates individual development plan for every employee. Another type of development plan created in the center, is team development plan, which is implemented on the entire teams working in specific sectors. In order to do business well, you need to have products of good quality, but asides from that, you need to have excellent staff. Therefore, we invest a lot in education and training of our employees. For example, in the second quarter of 2006, we realized a special trainee project. We hired motivated young people who had just completed their university education and we enabled them to pass specific trainings throughout the entire Group in two years, in order to get familiar with every aspect of the company business activities. They didnt have trainings only in Serbia; they also visited other Hypo companies abroad. As we often like to say in the Group: our greatest assets are our employees and for that reason we will continue to invest in their internal and external education. (Marija Sutanovac, Head of the HR department of the Hypo Alpe Adria Bank a.d. Beograd). Important point, which should be highlighted in this section, is opportunity for scholarships for university education of employees. Each year Bank supports further education of thirty selected employees and provides funding for their studies. This program represents a special kind of acknowledgement for talented and hard working employees. Furthermore, in cooperation with the Serbian Business Club Privrednik[4], the Bank provides scholarships for ten students, which are not employees of the bank, and in this way shows its support directed to the young people of Serbia. In this way, talented and perspective students have the opportunity to be in touch with the people from the most significant and influential companies in Serbia, and can find employment opportunities upon their graduation asides form their scholarships. 3.3. Marketing department and relationship towards clients Marketing department had a challenging task of providing support to all business activities of the Bank, once it penetrated the Serbian market. The key priority of the department was to create a positive image of the Hypo Bank, as well as to inform the Serbian population about its products and services. Corporate image strategy emphasized values of the bank: its tradition, innovative approach to business, Alps-Adriatic philosophy based on the regional banking client focus, partnership, security, corporate responsibility and independence. The main focus of the department was to create and promote the corporate image, which emphasizes that Hypo Alpe Adria Bank a.d. Beograd takes care of its clients in the same way as it takes care of its employees, and that it is a reliable partner who nurtures the local community in which it exists. The main element of the departments strategy was to create two-way communication with the clients: to reach the clients, and to hear their needs as well. For that purpose, the Bank introduced a special program called clients suggestions. Clients of the Bank have the possibility of sending their suggestions, comments,

Why Hitler was Able to Dominate Germany by 1934 :: Papers

Why Hitler was Able to Dominate Germany by 1934 Hitler was able to dominate Germanyby 1934 because of many events that occurred between 1923 and 1934 which helped his rise to power. In 1919 Hitler became the leader of the German workers party. By 1920 it was renamed the Nazi party and Hitler was its leader. Hitler organised the party as a military group, in 1921 he set up a private army called the Sturm-Abteilung or the SA. They dressed in brown and were sometimes known as brown shirts. Most were young men and some where former members of friekorps. The SA was designed to intimidate and destroy opposition; their militaristic style gave emphasis on the party's discipline and reminded citizens of Germany's strong militaristic background in the hope of gaining support. On 9th November 1923 Germanywas in chaos and Hitler allied with the former general ludendorf and attacked the government in Munichwith all 300 members of his party. This rebellion is known as the Munichputsch, it was however crushed by those still loyal to the government and Hitler was sentenced to 8 months in Landsberg fortress. His weak sentence and comfortable lodgings in prison show that even then people supported his anti-Semitic views. In prison Hitler wrote mien kampf (my struggle) which was an auto biography containing a detailed account of his views. This when published in 1925 quickly became a best seller and was a type of bible for the Nazi party. Hitler's time in prison let him think and he decide that if he wanted power he would have to obtain it legally through being voted in by the people. Democracy had some weaknesses and Hitler was ready to exploit them. Even though after the Munichputsch the Nazi party was banned they carried on campaigning and entered the Reichstag elections in a different name. In the May elections of 1924 they earned 32 seats, even though this dropped to 14 in December of the same year they still remained in the government which was the foothold Hitler would use to

Influence of Confucianism on China Essay

Confucianism is a system of philosophy and religious practice that sprouted in China around 500 B. C. E, and which has had a tremendous impact on Chinese culture and politics since. It was created by a social philosopher named Kong-Fu-Tzu, who being convinced of his ability to restore order to the world devised a philosophy of morality and social duty. Unlike other political philosophies of the time such as legalism, Confucius placed importance on proper action through a moral code, not a legal code. This moral code was solidified with the threat of intense shame, both in the eyes of the living and in those of your ancestors who watch over your actions. But in codifying his philosophies in such a manner, he also set his own short-sightedness, misogyny and dated thinking into an immutable morality that plagues the Chinese to this day. It is in this way that any positive characteristics of Confucianism give way to the corruption of politicians and the serious injustice of the concept of filial piety as laid down by Confucius’ disciples. And furthermore, it is difficult to address these issues within the scope of Confucianism because they are the ways of â€Å"ancient wisdom† transmitted by Confucius, and are treated as immutably righteous. So, the injustice of Confucianism and the social disparity it promotes plagued China for millennia even to this day in some respects. Indeed, I believe Confucianism has had on overall negative impact on China. Confucianism, like Hinduism with its Code of Manu, has a hierarchical system that separates peoples into castes ordained by heaven. These castes are slightly less specific than in the aforementioned example, but they are still a very real dynamic in Confucian thought. Each person is considered to have duties to certain people or â€Å"filial piety† (Confucius, 45), a subject must serve his h/er ruler, a child must respect h/er parents, a wife must obey her husband. And though these relationships are reciprocal, as a ruler has a duty also to his subject, they are each organized in regard to a superior to h/er inferior. Rulers are seen as having a â€Å"Mandate from Heaven†, and to disobey your ruler is to bring shame upon yourself and your relatives. So not only was there legal repercussion for disobedience, but also the engrained shame of having disobeyed at all, even if you are being wronged or abused. Besides these stringent class divisions, women are treated as intrinsically inferior to men as a whole, making it exceedingly difficult for Chinese women. Male offspring are extremely important to a family as the Chinese divine heredity through the male parent and a grown son can be considered in breach of his filial piety, and thus shame his family, if he does not give birth to a son. As mentioned earlier, a woman must also obey her husband as part of her filial piety. To do otherwise would be to shame herself and her family. Moreover, a woman’s duty to her family demands that she marry whomever her parents see fit, which makes her beholden to both her parents, and to a man whom she did not choose as her spouse. In the Book of Mencius, it describes women as living through three subordinations, to their fathers as a child, to their husbands as an adult, and to their sons in old age (Lin Yu Tang, 743). All in all, Confucianism served to heighten the struggles of women in an already patriarchal society. Having been introduced to these inequalities in Confucian thought, it may come as little surprise that Confucius described a serious mandate of the state over the individual. Those in such castes as were seen fit to rule over others afforded themselves much power, and little can be done to challenge a hierarchy in which defiance means shame in the eyes of all your ancestors. Subjects owe filial piety to their ruler, and as such a ruler must be righteous in his actions, but is considered the clear superior to the ruled. Should a ruler not fulfill his duties properly, the peasants are still controlled by him. So, while the ruler can break his duties to his subjects and still retain the power to control them, the ruled must risk a great deal in breaking their duties to the tyrant. Thus, the concept of filial piety to ones ruler only serves to embed tyrants, and does not provide any real recourse should a ruler break his own supposed filial piety to the ruled. An interesting example of this sort of filial piety to a ruler can be seen in the Chinese â€Å"Book of Songs†, in which this poem appears in the section set aside for â€Å"folk and peasant songs†: â€Å"To be rejoiced in are ye, noble men, The foundations of the State. To be rejoiced in are ye, noble men; — May your years be myriads and without end! † (Nan-Shan-You-Tai, Poem 172). That such a poem might be considered a folk song seems strange as it seeks only to glorify noblemen. Such is the bias engrained in the poor that the noblemen above them were to be â€Å"rejoiced in†. Another of the most important tents of Confucianism is deference to, and respect for your superiors, especially your parents. Filial piety to ones parents is paramount in Chinese families, and there are many stories of children in ancient times that went to absurd measures to please their parents. Some of the known ways that children have been made to bend to their parents will borders on utter child abuse. One story speaks of a child named Min Tzu-chien who let himself nearly freeze to death to appease a cruel stepmother (Brians, para. 4). Another relates the tale of Wu Meng, a boy in the Chin Dynasty who purportedly let his belly be feasted upon by mosquitoes numbering in the hundreds so they would not feed on his parents (Brians, para. 5). A particularly telling tale of this kind is the story of Kuo Chi, who lived during the Han Dynasty, was very poor, and who cared for his mother and three year old son. He could not feed either fully, and his mother often gave a portion of her food to her grandson so he would not hunger. Kuo Chi having seen this, told his wife â€Å"It would be better if we buried our son. We can always get another son, but it is impossible to get another Mother. † Kuo Chi then dug a grave in which to bury his son, but upon completing it he found a pot of gold which read â€Å"Officials cannot take it, people may not steal it† (Brians, para. 6-7). Kuo Chi was rewarded for his willingness to sacrifice the life of his inferior duty (his son) in favor of his greater duty to his mother. While the level of truth in such ancient stories is suspect, they represent the way in which Confucius’ idea of filial piety could be bent to allow for horrible injustice and child abuse. Confucian disciples also instituted a National Testing System for political office. The purpose of which was to insure that rulers were chosen on merit and not on lineage. But though Confucius advised a thorough education regardless of class, it was simply not the case in much of China. Learning was important, but the poor simply could not afford to give their children the full range of education necessary to succeed in the examinations. China became a watered-down sort of Oligarchy where only those wealthy enough to give their children a thorough education could hope to see their children into public office, and disparity between castes increased because of it. Meritocracy can not exist where equality of opportunity does not. All of these things can be considered unjust, unfair and even despicable in some instances, but the notion of changing them is difficult while maintaining Confucianism because like most philosophy rooted in spirituality, to deny the prophet often is seen as denying heaven. The traditional Chinese were severely limited by Confucianism because they believed any deviance from the righteous way of life prescribed by Confucius could lead to great shame and sorrow, to complacency and stagnation. And yet, Confucianism has continued in China even to modern times, though the Communist Government seeks to be rid of it. New troubles have been loosed because of Confucianism including but not limited to â€Å"sex specific infanticide† in which female babies are aborted in favor of male children because the Chinese Government has placed a cap on the number of children a family can have. The strong preference for male children, fed by Confucianism, is directly responsible for this horror. What new problems these outmoded ways of thinking, thousands of years dated, will bring up no one can tell. But as long as the tenets of Confucianism meet transgressors with shame and derision, it will no doubt continue to have a negative impact on China as a whole. Works Cited Confucius and Jennings, William trans. The Confucian Analects. New York: George Routledge and Sons, Limited, 1895. Waley, Arthur trans. Book of Songs: The Ancient Chinese Classic of Poetry. New York: Grove Press, 1996. Yutang, Lin ed. The Wisdom of India and China. New York: Random House, 1942. Brians, Paul. â€Å"Examples of Filial Piety (14th Century CE). † Reading About the World, Volume I. 1998. Washington State University. 23 Mar. 2006, .

Cultural Competence and Clinical Expertise

To identify the link between cultural competence and clinical expertise, their meanings should first be defined. Cultural competence is defined by the US Department of Health and Human Services, as â€Å"the level of knowledge based skills required to provide effective clinical care to patients from a particular ethnic or racial group†. Furthermore, it has been qualified and classified as: â€Å"†¦behaviors, attitudes, and policies that can come together on a continuum: that will ensure that a system, agency, program, or individual can function effectively and appropriately in diverse cultural interaction and settings†¦.† (US Department of Health and Human Services website). Although there has not been one single exact definition of cultural competence in the practice of medicine in general, each institution that has sought to define it did so within the premise of identifying ethnic differences in the general population that the medical community seeks to ser ve.The growing ethnic diversity in the US population now currently at 15% averages in major urban centers (Elliott) and by 2050, at least a quarter of the elderly population (Elliott), the importance of cultural competence as it relates to clinical expertise and medical service efficiency cannot be denied. As such, if a health professional is not well versed in communicating or interpreting reactions of the patient (either the patient is the one belonging to the minority group or vice versa), the impact on diagnosis and prognosis could be substantial enough to affect the outcome of medical service provision.Different ethnic groups have their varying interpretation with regards their interpretation of certain illnesses or diseases and how it impacts their family and well being. Thus, if a health professional aims to be well rounded and claim to be efficient in clinical applications, a degree of understanding all the varied cultural differences among his/her patient population should be reached. 2. Discuss a difficult interaction you have experienced or observed that may have resulted from intercultural differences (consider that every form of interaction between 2 people can be considered intercultural in some sense of the word).Define the interaction and an optimal approach to resolve it. One particular experience that I can easily recall is an encounter with an elderly Filipino couple while on duty at the local community clinic. I wasn’t privy or aware of Filipino customs and traditions with regards to care for the elderly in general but I assumed that like most of Caucasian elderly or senior communities, anybody 65 and above would be living in a senior community, or at least living independently of their adult children.When discussing the prognosis for the care of the husband’s post operative needs (he had colorectal cancer) and early symptoms of dementia, I assumed that he would be place in an elderly care skilled nursing facility. The couple, particularly the wife was livid even at the suggestion (or assumption) that her husband would be put away in a facility. After a lengthy discussion with the wife, and a succeeding session with an adult daughter, it was only then that I came to know that Filipinos are like most South East Asians. They have an extended family household setting.They take care of their elderly at home and expect everybody to participate in the care of the elderly. They cannot fathom or even begin to think of putting one of their elders in a group home or skilled nursing facility no matter how difficult the post operative care requirement is. The encounter with the Filipino couple and their extended family was an eye opener for me. When I made the assumption that the husband will presumably be transferred from the hospital after corrective surgery, I just assumed wrong and simply offended the sensibilities of the wife and even the daughter.It is a lesson that I will not make again in the future. I shoul d have put into consideration their profile more closely rather than just go over the clinical and medical aspects of the patient’s profile. In conclusion, because of our growing diversity in the US, clinicians should not only be aware of one or two ethno-cultural group but be more â€Å"culturally competent† in dealing with each minority culture’s differences and how they would possibly interpret certain prognosis and care for each patient in the family. References: Cultural Competence in Action: Retrieved on May 28, 2007 from: http://convention. asha.org/2006/handouts/855_1440Mahendra_Nidhi_091029_101806104800. pdf â€Å"Cultural Competence†. (2001). Mental Health Information. Friday's Progress Notes – March 16, 2001. Vol. 5 Issue 6. Retrieved on May 28, 2007 from: http://www. athealth. com/practitioner/newsletter/FPN_5_6. html Elliott, V. S. (2001). Cultural competency critical in elder care. Health & Science. AMNews. Retrieved on May 28, 2007 f rom: http://www. ama-assn. org/amednews/2001/08/06/hll20806. htm US Department of Health and Human Services website (1994): HRSA, Bureau of Health Professions. Retrieved on May 28, 2007 from: http://bhpr. hrsa. gov/diversity/cultcomp. htm