Strengths And Weaknesses Of Central Bank Essay - 1750 Words

Question 1: What Strengths and what shortcomings do you see in the approach that Central Bank is taking to fill this position? Strength 1: Combination of Internal and External Recruitment One of the strengths in Central Bank’s approach taken to filling this position is the decision to draw potential candidates from both internal and external sources. Both approaches have clear advantages and disadvantages, but by utilizing an amalgamation of the two, they are able to reap the benefits of both. Internal recruiting, which central bank has done through a job posting, generates applicants that are already well immersed in the company’s culture, core values, and processes (Steen, Noe, Hollenbeck, Gerhart, Wright, 2016, p.133). As a result, candidates are likely to adapt quickly to their new responsibilities and will require minimal training to do so. Also, recruiting from within the firm can boost overall employee motivation by showcasing the opportunities available for advancement (Steen et al., 2016, p. 131). However, there are favourable aspects to external sources that internal sources cannot offer, especially when considering Central Bank’s need for a major turn around. External recruiting is superior in bringing forth candidates that can expose an organization to new innovations and ideas that are necessary for a company to evolve (Steen et al., 2016, p. 134). Taking in direct applicants opens up the possibility of more diverse thinking within their workforce,Show MoreRelatedEssay On Corporate Governance1029 Words   |  5 PagesThis was adhered to by a comparable code by the Central Bank of Nigeria in 2000 (CBN, 2006) to deal with corporate governance practices in Nigerian financial institutions. Nevertheless, lessons from the corporate collapses and also losses in the last couple of years with respect relative to banks like Intercontinental Bank Plc, Bank PHB Plc, Societe General Bank, Afri-Bank Plc as well as Oceanic Bank Plc have actually highlighted the function, corporate governance techniques could play in keepingRead MoreHistory Of Egypt : The Middle East Essay1495 Words   |  6 Pagespolitical circumstanc es allow. Each bank has reached its greatness in his country where its company has launched its career. In 1896, twenty private banking firms joined together to form Barclay and Company Limited in what the banking press at the time referred to as a merger of the ‘well-known Quaker firms’ but in 1901 NBE opened a branch in Khartoum. It obtained a privileged position as banker to and for the government and acted as the semi-official central bank. However, the differences betweenRead MorePorter’s 5 Forces the Russian Commercial Banking Sector and Wealth Management Industry1118 Words   |  5 Pagesbarriers of entry, a moderate power of suppliers in terms of their ability to lure away human capital, increased power of buyers in terms of switching costs, many substitutes, and a high competitive rivalry. To better assess the entry of The Royal Bank of Canada (RBC) into the Russian market, one must also consider Canada-Russian relations. Being the two largest Artic countries, Canada and Russia share many common opportunities and challenges. The countries have a long history of cooperation onRead MoreThe Struggle For Political Balance1347 Words   |  6 Pagesfinally under the Constitution as a united republic nation. There were those who were not completely for a strong central government and favored the confederate style, but there were also those who found comfort and strength in a centralized federal government. This federalist versus anti-federalist debate has continued throughout all of American history each side with its strengths and weaknesses. The development of the debate and increase in federalism in American government can be highlighted by theRead MoreSwot Analysis1235 Words   |  5 PagesSWOT Analysis Opportunities The Bank is very well placed with a good and assured customer base from the level of the government and the public sector business. Many patriotic Nationals will do business with Sample Bank Ltd because they know that the profits of the Bank belong to the people of the country and are used for the country’s development. The availability of modern telecommunication systems and technology will facilitate the improvement and strengthening of the Bank’s international businessRead MoreNotes On The Cash Rate1232 Words   |  5 Pagesbenchmark interest rate set by the Reserve Bank of Australia (RBA) based on its inflation target that is charged on overnight loans to commercial banks (Lowe, 2009). Because the amount of money a bank has fluctuates daily based on its lending and borrowing activities, the central bank always lends money overnight to banks that experience a shortage. Therefore, the overnight rate, that is, the cash rate here, could be the rate targeted by the cent ral bank to influence monetary policy. FIGURE 1: THERead MoreGlobalization And The European Union1685 Words   |  7 Pagesdeal with the issues that are outside of the European Union’s borders. In theory, the continuing plan of increasing the supply of money will eventually cause higher prices in goods, making the money they continue to put the economy to lose value. Strengths The success of the European Union’s economy can be contributed to the policies set forth by the union. The main contributor to the union’s success is the â€Å"Single Market† principle. The European Union defines the â€Å"Single Market† as one large territoryRead MoreStarbucks Coffee Company (Hong Kong)900 Words   |  4 Pagesï » ¿Starbucks Coffee Company (Hong Kong) Background: Starbucks Coffee Company (Hong Kong) was established in May 2000. They opened the first store in Central s Exchange Square. By May 2008, Starbucks has opened more than 100 branches across Hong Kong commercial, shopping entertainment and residential areas. Why did we choose this brand? The brand name of â€Å"Starbucks† becomes very well-known in Hong Kong. According to the article of Hong Kong Coffee Culture Exchange Association ( http://hkcceaRead MoreThe Four Generic Strategies For A Competitive Advantage805 Words   |  4 Pagesoccurred between Bank of America and Countrywide, when the deal cost the bank approximately $ 40 billion. Kmart and Sears are also among the epic fails due to the considerably dropped revenue of the first one. eBay bought Skype for $ 2.6 billion in 2005 to sell it for $ 1.9 billion in 2009. Among the other failed mergers, there are AOL and Time Warner, Sprint and Nextel, Daimler-Benz and Chrysler, and Quaker and Snapple. However, it seems beneficial to point out the case of New York Central and PennsylvaniaRead MorePest Analysis1689 Words   |  7 Pageslegislation. Economic Factors. Often the political factors spill over into economic factors. For example, tax is usually decided by politicians, based on a mixture of political and economic factors. Interest rates, in many countries are decided by a central bank, but political factors may still be important. The fall of the Soviet Union caught most businesses and Western Governments by surprise - but not all. Some companies - notably Shell Petroleum - had picked up signals that all was not well in Russia