The impact of the Financial Crisis on Banking Industry Research Paper

The impact of the Financial Crisis on Banking Industry - Research Paper Example In 2009, the â€Å"Federal Deposit Insurance Corporation† failed almost 305 banks. Even though this is comparatively small proportion of the entire banks, the tendency that this reveals is the actual reason for concern. This amount is greater than 12 times the amount, 25, which failed in the year 2008. Among these banks which were forced to shut their doors in 2008 was â€Å"Washington Mutual†; the leading bank to date which has been compelled to shut their doors. Nevertheless, they were capable to get away total amount of liquidation by being engrossed by â€Å"JP Morgan Chase†. This benefited the â€Å"JP Morgan Chase† since this gave them a trail on the west-shore which they had been requesting for some time (Bexley et al., 2011, p. 2). Due to these negative externalities, the problem of credit crunch has been generated which has reduced the amounts of investment and investable funds across the globe. Also the problem of subprime lending has also been a ggravated in global economies, mainly in US which has reduced the banking transactions in the country (Bexley et al., 2011, p. 6). ... to this high level of inflation, consumers are not getting capable of purchasing costliest goods and services and hence business organisations which are engaged in production of these goods and services are leaving the industry. Again this is reducing the level of income in the country and hence the level of demand for necessary goods and service. The Fed is expecting to have a subdued in the next few years because of weaker level of real economic activities prevailing in the country. But the Fed is expecting that the rate of inflation will remain unresponsive in newt few years due to the fact the American economy is still under the curse of financial and economic crises situations (Minutes of the Federal Open Market Committee, 2011, p. 1). Future solutions: Again, it is expected by the researchers that the rate of interest will remain comparatively low as well as stable in the next year following the rapid growth of developing countries. This increasing growth of countries such as I ndia and China will increase the volume of trade in favor of USA. Also the corporate bonds and the share market are expected to be much stable in the next year than it is now. These aspects are expected to improve the performance of the banking sector in the US (Elwell, 2011, p. 4). The rate of interest on â€Å"91-Day Treasury Bills† in the next year is expected to be 0.2% and that of â€Å"10-year treasury notes to be 3.5% (Fiscal Year 2013: Analytical Perspective: Budget of the U.S. Government, 19). These improvements in the economic variables of the country is expected to create significant amount of positive effect on the increment of the level of private as well as public consumption spending of the country. Consumption spending is most likely to remain the most crucial part of the

TRAINING AND DEVELOPMENT IN THE PUBLIC SECTOR Term Paper

TRAINING AND DEVELOPMENT IN THE PUBLIC SECTOR - Term Paper Example Therefore, cultural competency simply entails peoples abilities of understanding the differences between group contexts like in work environments. Thus, organizations are increasingly implementing cultural competency plans with an aim of encouraging a cultural tolerance culture. In particular, this piece of work strives to outline the best way through which an organization can implement cultural competency plan with a deeper search for the different definitions of the concept. There are different definitions of cultural competency, but all of them point to the tolerance of diversity within a group. Kirmayer (2012) defines cultural competency as a group of harmonious behaviors, policies, and attitudes that integrates into an organization, among professionals or agencies and allows for efficient functioning in cross-cultural situations. A deeper definition of cultural competency posits that the concept involves transformation and integration of knowledge about individuals or groups into explicit standards, practices, attitudes, and policies within the appropriate cultural settings (Lie et al., 2011). The transformation and integration increases service quality thus leading to greater organizational performance. A culturally competent individual considers his or her perception of the world and compares it to others. The perception is also important in organizational situations and executives should understand that that different cultural background is what constitutes the universe. On the other hand, cultural competence refers to the act of obtaining particular cultural information and applying the knowledge in the right manner (Lie et al., 2011). Therefore, cultural competency enables all people in the organization to see the real picture about other employees and helps in improving quality of services and business operations. However, acquiring different cultural perspectives and practicing them compels individuals to be