Monday, September 30, 2019
Manager Resume Example Essay
ALBERT A. YAGUDAEV Home (718) 956-7299  Cell (917) 865-4782 Fluent in English & Russian CORE KNOWLEDGE AREAS Risk Management Finance Management Strategic Analysis Team Building Problem Solving Statistical Analysis Commercial Banking Client Relations Budget Management Report Management Goal-Oriented Communication Skills Bond Assurance Detail-Oriented Decision Making Team Building Time Management Organization Skills PROFESSIONAL EXPERIENCE  Calyon New York, NY                                                                                              2005 – Present Senior Analyst – Capital Markets / Global Funding Desk Prepares and presents consolidated entity level risk reports for Senior Management including the Senior Executive of the Trading Desk. Provides consultation and advice regarding dynamic hedge strategies utilizing interest rate derivatives. Automates various workflows utilizing Excel and Visual Basic. Identifies and quantifies all risks borne by the trading books. Reviews and analyzes calculations of risk parameters including sensitivities, volatilities, VaR, and reporting of total position risk. Runs scenario analyses and stress loss tests. Explores P&L and positional impacts of market movements. Quantifies portfolio size and stop-loss limits; monitor and report on breaches. Guides traders on market risk, P&L, liquidity risk, and limit utilization. Analyzes the integrity and maintains the quality of the data feeds from various global systems by establishing effective processes for timely VaR reporting for the Investment Bank. Optimizes the management framework. Produces ad-hoc reports and quantitative analysis for the Treasury/Global Funding Desk. HSBC Bank USA, New York, NY                                                                                 2001-2005 Sr. Risk Analyst – Interest Rate Derivatives Desk Verified and analyzed daily Profit and Loss. Analyzed calculations of risk parameters including volatilities, stress testing and (VaR). Deconstructed and analyzed reports on Fixed Income and Interest Rate Derivatives. Measured and analyzed credit exposures and various elements of risk. Provided financial reports to Head Office and Senior Management. Reorganized the use of proprietary relational databases, complex spreadsheets, and concomitant macros to streamline corporate business operations. Tested and implemented the VaR model (Taylor-Series). Ensured levels of risk were consistent with limits established by management. Continue†¦page 1 of 2 ALBERT YAGUDAEV                                                                                             Page Two Integrated Leasing, Melville, NY                                                                                         2001 Consultant Successfully streamlined corporate business operations through the utilization of spreadsheets and macros. Developed and maintained relational databases for product centers. Natexis Banque Populaires, New York, NY                                                               1999 – 2000 Treasury Risk Manager – Fixed Income and Interest Rate Derivatives Desk Performed VaR analysis using RiskMetrics. Analyzed the results of Monte Carlo simulations and historical Time Series risk measurement Responsible for defining department’s market risk measurement methodologies, including statistical measures, stress testing, monitoring overall positions and setting limits to govern exposure Researched simulation models for incorporation into firm’s risk systems Managed P&L risk on both an intra-day and end-of-day basis, specifically monitoring risk exposure  Ambac Capital Corp., New York, NY                                                                           1997-1999 Risk Analyst – Fixed Income Desk in Asset/Liability Management Prepared detailed mark-to-market risk analysis of a $10.5 billion asset and liability portfolio for Securities including GICs, CMOs, Corporates, ABS, Municipals and Treasuries. Analyzed and recommended appropriate hedges with respect to interest rate exposure for duration, convexity, and time value utilizing options, futures and other derivative products. Measured portfolio risk utilizing dollar and effective duration, convexity, key rate duration, volatility, prepayments, and basis between Treasury, Libor and AAA Corporate yields. Maintained, reviewed and updated model assumptions for measuring sensitivity of the GIC portfolio to market value fluctuations and changes in interest rates. J & W Seligman & Co., New York, NY                                                                          1995-1997 Business Analyst Conducted quantitative and statistical analysis for the Fixed Income Analytical Team. Reviewed and analyzed trends in the bond market, interest rates, and yields. Effectively prepared and presented detailed reports to Senior Management describing the firm’s current risk status. Salomon Smith Barney Inc., New York, NY                                                                   1994-1995 Associate Analyst Evaluated department financial progress through the compilation and manipulation of data utilized in daily reports. Significantly reduced the capital charge imposed by the SEC on aged items from $159 million to $13.3 million. Successfully managed the $83.2 million Smith Barney commission account for proper allocation. TECHNICAL SKILLS Bloomberg  ¨ Bloomberg Trader Workstation  ¨ Reuters 3000 Calypso  ¨ RiskWatch  ¨ RiskMetrics,  ¨ Summit,  ¨ Kondor Microsoft Office Suite (Word, Advanced Excel w/ VBA & Functions, Access) EDUCATION St. John’s University – College of Business Administration, Queens, NY Bachelor of Science in Finance, (date) Associates in Computer Science, (date)
Sunday, September 29, 2019
The Book of Genesis vs. the Epic of Gilgamesh
Two Different Books with Similar Stories The Book of Genesis and The Epic of Gilgamesh have many clear similarities. One major, noticeable similarity is that in both stories, there are flood legends. There is the legend of Noah and the Ark in The Book of Genesis and the story of Utnapishtim in The Epic of Gilgamesh. In both stories, a higher power wants to wipe out the human race and decides to save one person who is then assigned to build an ark to hold himself, his family, and one of each animal. There are also many specifics about this flood that the two stories have in common, not just the basis of the tale.For example, both stories tell of a long storm. In The Epic of Gilgamesh, it says: â€Å"Six days and seven nights the wind and storm†(Gilg. Tabl. XI, 127). In The Book of Genesis, it says: â€Å"rain fell upon the earth forty days and forty nights†(Gen. 7:12). In both cases, the story is specific about the number of days the storm lasted. Noah and Utnapishtim make sacrifices to their respective higher power– Noah to God and Utnapishtim to Enlil. In the story of Noah and the Ark, it says that he â€Å"†offered burnt offerings on the altar†(Gen. :20) which is a sacrifice to God. In the story of Utnapishtim, it says that he â€Å"offered a sacrifice†(Gilg. Tabl. XI, 155) by pouring a libation to Ea, which is a form of spiritual sacrifice. These stories do not exist for entertainment, they serve the purpose of teaching people lessons about humankind and God or the gods. These flood legends tell us about a couple of different religious beliefs of the ancient people, one being that people are instinctually bad. A higher power wanted to wipe out the human race in both legends because humans were doing wrong.If humans were good by nature, the higher powers would not have wanted to destroy them all. The stories of these floods also show flaws in the high powers. Usually the gods or God are considered to be perfect, bu t in this story we see that the higher powers do indeed make mistakes. They made the mistake of creating an earth populated by flawed people. This is important because it shows that not even God or gods can achieve perfection, and humans certainly cannot. Even though this still makes the gods better than humans, no one is perfect.These two stories are also very similar in their views of humans versus animals. In both stories, the higher power assigns a man to build this ark and lead a new world with his animals. This shows his authority over the animals. Since he and his family are intended to be the only humans after the flood kills everyone else, this makes the humans the leaders of the living beings. The stories send a clear message that humans are above animals and humans have power over all animals. This tells us that animals are not viewed as equals and certainly do not receive the same respect as humans in either culture.This explains why people eat meat, have pets, farm, or anything else humans do to control animals and establish a higher power over them. Although there are very major similarities between The Epic of Gilgamesh and The Book of Genesis, there are also many differences. One of the main differences is the attitudes about sex. In The Epic of Gilgamesh, Gilgamesh sleeps with all of the women in the town that he rules. Also, after a successful journey with Enkidu, they reward themselves by having sex with prostitutes. Prostitutes are also seen as mystical and powerful.Even more different from the other story is that the gods in The Epic of Gilgamesh sleep with human beings. Sex is much more common and casual in this story. Also, because it is provided to the warriors as a reward for a successful journey, it makes sex almost a trophy. Overall, this tale makes sex out to be a spiritual, powerful, and pleasurable action. This is very different from The Book of Genesis. In The Book of Genesis, sex is not for pleasure. People are not supposed to h ave sex until marriage, and it is mainly for the purpose of procreation.This is very different from The Epic of Gilgamesh in which Gilgamesh sleeps with many women while unwed. The difference in sexual attitudes in the stories exemplifies how sex is viewed differently in different cultures. Some may see it as a form of pleasure, while others view it as a means for creating children. Another minor difference between the stories is the idea of immortality. In both stories, all humans are born mortal. Although Gilgamesh is 1/3 god and 2/3 human, he is still mortal because he can be killed. In The Epic of Gilgamesh, Utnapishtim is given immortality by the gods before flooding out the human race.However, in The Book of Genesis, God does not give anyone the gift of immortality. This shows how the Christian culture believes that humans are far less powerful than God and they can never be anywhere near as strong and wise as Him. In The Epic of Gilgamesh, humans can be granted special powers by the gods, and Gilgamesh himself is part god. This puts far less emphasis on the division between humans and gods than The Book of Genesis. The obvious similarities between The Epic of Gilgamesh and The Book of Genesis tell us that the people of the world coming from different cultures still have many mutual beliefs.The similarities in the stories also show how important these stories are to people, since the beliefs are so widespread that multiple different variations of the stories have been written. It is clear that the people of the ancient world believed that the world was created by a higher power in a number of days, that a higher power created the human race, humans are very flawed, and many other mutual beliefs that can be found in The Epic of Gilgamesh and The Book of Genesis.
Saturday, September 28, 2019
Can Agros enter the chinese market -An investigation about chinese Essay
Can Agros enter the chinese market -An investigation about chinese consumers' attitudes towards the Argos business modle - Essay Example plishment can be attributed to the increase in the purchasing power of the Chinese people due to the corresponding increase in their disposable income. The research paper will attempt to investigate the attitude of the Chinese customers towards Argos business model. Argos, owned by Home Retail Group, is a major retailer group in UK offering consumer durable and fast moving consumer goods. It has a unique recognition in UK as a multi-channel retailer and serves its customers with 700 retail stores in UK and Ireland. 26% of its total retail sales come from online and home delivery services. It has developed a unique style whereby it receives orders online and through telephone and delivers them at the customers’ home. Around 18 million of UK households are using products under Argos’ catalogue (Argos, 2010). The research will aim to find out whether Argos business model is compatible in the Chinese retail industry. A research will be conducted for this purpose. A brief literature review will be discussed in the very beginning to analyse the present situation of the Chinese retail market. This will be followed by a comprehensive analysis of the objective and requirements of this research paper. The section allotted to research design will discuss on the research methodology and will select the most suited one. The collected data will then be analysed to generate the findings of this research. The concluding section will not only deal with the inferences arrived at but also the limitations that have restricted the findings. The literature review is a very important section as it helps to develop a theoretical framework for the research topic. This part also prepares the base of the research topic by identifying supporting studies related to Chinese retail market and consumer behaviour. Political and social development of China was accompanied with economic growth. It is primarily seen as the fruit of industrialization that reduced poverty and increased the
Friday, September 27, 2019
Using Expository Text in the Secondary Classroom Essay - 1
Using Expository Text in the Secondary Classroom - Essay Example Moreover, Hall, Sabey, and McClellan (2005) indicate that effective use of expository text between early childhood and middle school classrooms helps decrease the decline in reading scores. Akhondi, Malayeri, and Samad (2011), in complementing claims by Hall, Sabey, and McClellan (2005), show that teachers may find teaching expository texts and their structures as an effective technique for improving the common reading achievements. The structure of expository text is such that it facilitates the study process in prospective readers because the structure contains elements that guide a student through the reading. Students who comprehend the concept of expository text structure as well as the way to analyze it are capable of learning more than their counterparts who lack this understanding. Therefore, students’ comprehension skills in reading improve when they acquire this knowledge with regard to the development of text structure and its proper use (Akhondi, Malayeri & Samad, 2011). Knowledge of rhetorical relations between main ideas and sustaining details enhances a reader’s comprehension of expository text. This results from text features in expository texts capable of helping a reader to find and organize information within a text. For instance, heading in middle school text introduces a student to detailed bits of information, which helps the student to keep each bit of information within the short-term memory. This allows the student to process or even connect the information to background knowledge and later store it to the long-term memory. Without headings, information presented in expository text would be overwhelming to the middle school students because it would be difficult to process it effectively (Akhondi, Malayeri & Samad, 2011). Since expository texts’ structural elements vary, it is essential that middle school students be introduced to the components throughout the year. This
Thursday, September 26, 2019
Trade and labour standards Thesis Example | Topics and Well Written Essays - 500 words
Trade and labour standards - Thesis Example Bringing about this issue within the framework of WTO would indicate the enhancement of working conditions around the world. The proposed working group would be responsible for studying the trade and core labour standards. Many developing as well as some developed countries however argue against this proposition because such core labour standards should technically not be a part of the WTO. Developing countries’ representatives argue that such policies might subjugate the comparative advantage of the lower wage in developing nations. In fact the improved working conditions according to the essential labour standards require high scale improvements in the infrastructure of the workplace which is often not conducive to a developing nation. In a developing nation with relatively lower economic growth such enforcements of standards would bring about poverty and some lapse of time in improving working standards. The compulsion to stick to the labour standards and the need towards l abour market flexibility work together to bring out protests and non-cooperative approach of the workers especially in nations where political structures favored some voice to the workers.
Wednesday, September 25, 2019
Management by culture is another way of exercising control in Essay
Management by culture is another way of exercising control in organizations. Critically discuss this statement with reference to issues of power and resistance - Essay Example This study will also focus on the issues of power and resistance as they pertain to management by culture. Journal articles, online research, and textbook readings are used to help define organizational culture, power and resistance within organizational culture, and exercising control using organizational culture. Examples from the real time functioning organizations will be used to provide insight into how management by culture can be successfully used to meet mission goals. Organizations develop a culture all their own whether or not the organizational leadership wants it. But, organizational leadership can help develop a culture among workers that works to the organization's advantage. Management by culture does just that. Management can incorporate symbols, stories, heroes, slogans, or ceremonies to create an environment that encourages positive operations within the organization. The organization identifies what it considers positive attributes, abilities, or behaviours that need to be rewarded within the organization. The ultimate goal of management by culture is to accomplish the mission of the organization. Management by culture reduces friction between management and staff by directly addressing resistance within the organization. Organizational culture or corporate culture is defined as "The values, customs, rituals, attitudes, and norms shared by members of an organization, which have to be learnt and accepted by new members of the organization."1 Organizational culture can be further subdivided into integrative culture, differentiated culture, and fragmentation culture. It is important to note that an organization's culture can have positive attributes and negative attributes. Obviously, an organization will want to support the positive culture that develops and discourage any negative culture that develops. Integrative culture includes an agreement on what should be adopted and what should not. Integration provides "unity, predictability, and clarity to work assignments".2 Differentiated culture consists of subcultures that may develop that do not share the common goals and objectives of the organization. This encourages inconsistencies in the organization that are not wanted by management. Fragmentation culture consists of multiple definitions of organizational values and assumptions within the organization. This happens when an organization grows too quickly, has a very diverse work force, or enters the global marketplace. 3. Building a Positive Corporate Culture/ Management by Culture The challenge of any organization is to create, and nurture, a positive corporate culture that includes all that work for, or lead, the organization. Management at this level works to reward desired behaviours among its employees. Positive reinforcement of desired behaviours lowers the incidences of power struggles and resistance. In short, people like to be recognized and rewarded rather than punished or fired. Management by culture requires the organization to put into place set standards and practices. The organization will be better able to recognize high performance with set standards and practices. The task environment and internal environment need to be clearly identified. The cultural environment needs to be clearly ide
Tuesday, September 24, 2019
Personal managerial effectiveness Essay Example | Topics and Well Written Essays - 2500 words
Personal managerial effectiveness - Essay Example In defining what a team is in reference to business considerations, it must be understood that the word team means different things to different organizations. Some organizations use the word as a philosophy to support the concept that all the individual efforts contribute to the overall success of the business. At other times, there is an organizational structure that includes smaller teams that contribute individual projects to the overall success of the larger organization. A general guideline for the concept of the teams within the structure of a business includes the following aspects: Although research into the concept of team building was actively pursued between the 1960’s and the 1980’s, the activity of team building became a more common property of business building in the 1980’s when excess in corporate revenue allowed for expenditures on corporate retreats and interventions (Koppes 2007: 428). The current models are based on the concepts of â€Å"increasing role clarification and social aspects of teams†(Koppes 2007: 428). When building a team, the dynamics of the team and the needs of the goals must all be considered in order to develop a successful venture. Determining when a team must be built is the initiating decision in forming a productive group. Some of the deciding factors in building a team depend on whether or not a project has been â€Å"defined well enough to determine the appropriate participants†, however, â€Å"the project should not be defined in so much detail that it discourages ownership†(Heerkens 2002: 79). In order to invest the people who have been designated for the group into a project, some of the planning must be assigned to them. When a person’s opinions and ideas have become part of a goal, an investment in the success of the goal has been made. Other considerations must be given to the costs
Monday, September 23, 2019
Discussion Week 7 Question 1 Comparing Graphical and Computer-Based Assignment
Discussion Week 7 Question 1 Comparing Graphical and Computer-Based Methods - Assignment Example the shadow price associated with a particular constraint tells you how much the optimal value of the objective would increase per unit increase in the amount of resources available. In other words, the shadow price associated with a resource tells you how much more profit you would get by increasing the amount of that resource by one unit†(Spivey, 2011, p. 1). It was emphasized by Taylor (2010) that the graphical solution is applicable for solving LP problems with only two (2) decision variables and could be visualized by the problem-solver; while the computer-based methods allow solving problems with more than two variables and would necessitate data input requirements, either through Excel or QM for Windows. Concurrently, these two methods are similar in terms of allowing the decision-makers to evaluate the outcome or solution that was arrived at using either of the methods. Likewise, as these methods were designed to solve LP problems, they presume that all the necessary elements or characteristics that are essential for solving LP problems must be present: the objective function (either maximize profit or minimize cost), a set of constraints, the decision variables, and finally, â€Å"linearity among all constraint relationships and the objective function†(Taylor, 2010, p. 57). The graphical approach could be preferred as the most viable approach to solve LP problems when there are limited decision variables (at most two) and when the user needs to visualize the feasible solution area, as well as the optimal solution point. In addition, if the user is not competent or proficient with computer-based programs, the graphical approach is evidently most
Sunday, September 22, 2019
Project management Essay Example | Topics and Well Written Essays - 3750 words
Project management - Essay Example Keeping in view the importance of the advertisement, the Electronic Arts Incorporation (our client) decided to advertise their products over the internet, sale of the products (eCommerce) and along with development of videos (EA Inc., 2014). The Electronic Arts Inc. selected the Rubicon (Project Vendor and I am the Project Manager) to initiate the development of eCommerce enabled website along with the online videos for the advertisement. The vendor Rubicon is one of the leading companies for selling and buying of the advertising globally (Rubicon, 2014). In the initial sections of the document examines the scope, objectives, goals and the critical success factors of the project. The document proceeds with explaining the project management methods include: the Gantt Chart, critical path, network diagram and financial plan (cost estimates) of the project. Moreover, the document includes the organizational chart showing the internal and external organization as well as a responsibility assignment matrix. The document further contains an evaluation of the risks involved in the project and how they (risks) avoided by the vendor. The last part of the document contains suggestions for alternative project management methods and guidelines for the project to bring back it to the track, if there is slippage in the schedule of the project. The Rubicon (Project Vendor) utilizes eight (8) human resources to complete the project within specified time, including the project manager (me), database administrator, eCommerce specialist, website developer, website designer, content developer, Search Engine Optimization (SEO) expert and video editing specialist. There are four (4) basic or predefined success factors of a project, including cost, schedule (time), scope and quality. A project is said to be successful if the project has
Saturday, September 21, 2019
Management Essay Example for Free
Management Essay The management functions of planning, organizing, leading, and controlling Management is the attainment of organizational goals in an effective and efficient manner through planning, organizing, leading and controlling organizational resources. The success of an organization is determined by four essential functions of management: controlling, leading, organizing, and planning. Controlling involves directing and monitoring the progress of employees. Controlling employees and the work environment helps employees to stay focused on goals set by the management. Management must provide superior leadership skills by making their presence known in the work environment. Employees have a basic need of having contact on a daily basis with management. By leading managers motivate their employees and increase efficiency. Management makes an organization successful by organizing all aspects of business which would include business functions; creating organizational charts, setting goals, creating an action plan, and figuring out the logistics to make sure goals are achieved. Management must use the function of control to stabilize employee performance and the work environment. Control is always viewed as a negative term because employees think of being restricted. However, controls are placed for the benefit of everyone, without a controlled organization there would be chaos. Within my organization, management maintains control by setting clear guidelines each employee must obey. Managers expect people in an organization to change their behavior in response to control (Erven, 1994). Since my colleagues and I work as independent contractors everyone has the power to choose their own schedule. Management controls the environment by making everyone adhere to the set schedule by 75% or better. When contractors meet their commitment, they are rewarded with a pay incentive. Prior to this policy being enforced, performance was lower, since this control has been in place performance has increased dramatically. Leading Management is expected exercise the function of leading in order for the organization to meet their goals. Leading is an essential function of management because it helps management direct employees to focus on the big picture. Typically management will focus on increasing productivity to improve cost efficiency. In order to improve productivity, employees need direction and motivation from management. At my organization, employees are paid based on commission. Management provides employees with information about busier working hours so that employees have the opportunity to maximize their efforts on those hours. At the end of the day, management wants the needs of the customers to be met as well as employees to be satisfied with their compensation. Organizing Organizing is a critical component of good management, because everything within the organization is depending on the organizational skills of the management. Management is primarily responsible for organizing resources in order for goals to be met (Bateman Snell, 2007). Within the organization, management must create an organizational chart which would describe the business function and responsibility of each person on that chart. Management would assume responsibility for all logistics to be in place to assist their employees of meeting their goals. In my organization, a critical component of organizing involves having all of the necessary technology functioning properly since business is conducted by phone and internet. On a daily basis the management has to make sure the phone routing system is functioning properly as well as their websites. Occasionally technical problems occur, and they must be handled immediately or else business will suffer if the necessary technology is not available. Planning Planning is essential component to the other three functions of management running smoothly. Planning involves the management team identifying goals and objectives within the organization. Once goals are mapped out, management must work together to analyze the current state of the organization and make a plan of action to implement immediate changes. In order to plan successfully, management must anticipate circumstances they could be affected by. Based on goals, objectives, and their forecast into the future they can begin to create business strategies. The management in my organization focuses on increasing the volume of customers. When the volume of customers drops, promotions occur more often to lure customers in. In order to prepare for unthinkable situations such as a drop in business management must work within other departments to develop contingency plans when business is not going as planned. The roles and responsibilities managers have within an organization. There are managers in every profession – it is not a standalone field. For those of us who become managers, we reach a stage in our career progression where we apply for roles which have management responsibilities. We then need to build our managerial experience and gain the knowledge and skills to enable us to carry out the role effectively. As a manager, there are many responsibilities must follow. Managers take on an essential responsibility for communication. Particularly with the pace of change, it ismore important than ever to keep employees informed of what’s going on. In performing the informational role, managers are essentially two-way information conduits. Managers must keep employees informed of all things that affect their work and provide information to their organisation (and, often, outside their organisation) about what the team is doing. To undertake PDRs with staff. Through the PDR process, to engage in the setting of objectives in order to assist in the monitoring of performance and the development of the individual. To assess the training and development needs of staff to ensure that they are adequately supported in relation to their work responsibilities. Managers are also required to ensure that staff have completed the relevant mandatory training for their role. To ensure appropriate management systems and procedures are in place to meet your health and safety duties. You will find your responsibilities contained in the University’s Health and Safety policy. You are required to ensure appropriate risk assessments are carried out in respect of significant hazards and safety inspections. To apply the University’s Equal Opportunities Policy. Line managers are responsible for maintaining a working environment that is free of discrimination, harassment, victimisation and bullying. In applying the Universities Equal Opportunities Policy and associated training, line managers have an important role in ensuring that no person associated with MMU receives less favorable treatment on the grounds of: gender, race or ethnic origin, nationality, disability, sexual orientation, social background or for any other identifiable discriminatory cause. There will be other responsibilities for you dependent on your managerial level within the University. You should speak to your own manager if you need to clarify any of these.
Friday, September 20, 2019
Corporate Social Responsibility In Smrt Corporation Management Essay
Corporate Social Responsibility In Smrt Corporation Management Essay This report is written and compound to discuss Corporate Social Responsibility in the worldwide international company. Corporate Social Responsibility is the adoption by a business of a strategic focus for fulfilling the economic, legal, ethical, and philanthropic responsibilities expected of it by its stakeholders (Thorne, Ferrell, Ferrell, 2008, p. 5). The key stakeholders of an organization consist of employees, customers, investors, suppliers, stockholders, governments, as well as communities. SMRT Corporation Ltd (SMRT) is one of the company that implements Corporate Social Responsibility in their company. SMRT is Singapores premier multi-modal public transport service provider which established in 1987. Corporate governance is one of the most important aspect in Corporate Social Responsibility. The Board and Management of SMRT are fully committed to continually raising the standard of corporate governance and to build a respected, trusted and transparent organisation which is essential to sustainability of the companys business and performance. Some of the sustained programme that has been made by SMRT to enhance and improve the lives and welfare of the community are corporate philanthropy, environment, community outreach, as well as safety and security. 2. Introduction Corporate Social Responsibility is the adoption by a business of a strategic focus for fulfilling the economic, legal, ethical, and philanthropic responsibilities expected of it by its stakeholders (Thorne, Ferrell, Ferrell, 2008, p. 5). The key stakeholders of an organization consist of employees, customers, investors, suppliers, stockholders, governments, as well as communities. Nowadays, the awareness and implementation of Corporate Social Responsibility in Singapore has been increased since the establishment of Singapore Compact in January 2005. Singapore Compact is a national society that functions as multi-stakeholder platform in recognising the role and contributions of all Corporate Social Responsibility stakeholders. SMRT Corporation Ltd (SMRT) is one of the company that implements Corporate Social Responsibility in their company. SMRT is Singapores premier multi-modal public transport service provider which established in 1987. This report is written and compound based on the company background of SMRT, corporate social responsibility by SMRT which includes corporate philanthropy, environment, community outreach, safety and security, as well as current issue in market and media. 3. Company Background SMRT Corporation Ltd (SMRT) is Singapores premier multi-modal public transport service provider offering integrated transport services island-wide. Established in 1987, SMRT provides Mass Rapid Transit (MRT), Light Rail Transit (LRT), bus services, as well as rental of taxis. In addition, SMRT leases the commercial spaces and provides advertising buying service within their network. Singapore MRT Ltd started operating the North-South and East-West lines (NSEWL) of Singapores first Mass Rapid Transit System in the 1987. Singapore LRT Pte Ltd was set up in 1997 and two years later, became the first operator for Singapores pioneer Light Rapid Transit System in Bukit Panjang (BPLRT). SMRT Corporation Ltd has been listed on the mainboard of the Singapore Exchange Securities Trading Limited (SGX) since 26 July 2000. As a holding company, it wholly owns SMRT Trains Ltd (SMRT Trains), formerly known as Singapore MRT Ltd, and SMRT Light Rail Pte Ltd (SMRT Light Rail), formerly known as Singapore LRT Pte Ltd. SMRT Trains has commenced operations of Circle Line Stage 3 in May 2009 and Stages 1 and 2 in April 2010. In December 2001, SMRT Corporation Ltd acquired SMRT Road Holdings Ltd (formerly known as TIBS Holdings Ltd) for $198.6 million and became Singapores first multi-modal land transport operator, providing bus and taxi services in addition to its MRT and LRT services. SMRT Buses Ltd (SMRT Buses) and SMRT Taxis Pte Ltd (SMRT Taxis) are wholly-owned subsidiaries of SMRT Road Holdings Ltd. 4. Corporate Governance Corporate governance is the formal system of oversight, accountability, and control for organizational decisions and resources. Oversight relates to a system of checks and balances that limits employees and managers opportunities to deviate from policies and codes of conduct. Accountability relates to how well the content of workplace decisions is aligned with a firms stated strategic direction. Control involves the process of auditing and improving organizational decisions and actions (Thorne, Ferrell, Ferrell, 2008, p. 75). Corporate governance is one of the most important aspect in Corporate Social Responsibility. The Board and Management of SMRT are fully committed to continually raising the standard of corporate governance and to build a respected, trusted and transparent organisation which is essential to sustainability of the companys business and performance. For its efforts to achieve the excellent corporate governance, SMRT received some of the corporate awards such as Best Investor Relations (Silver) and Best Annual Report 2009 (Bronze) at Singapore Corporate Awards 2010, second place in Business Times Governance and Transparency Index 2010, Best Managed Board (Gold) and Best Annual Report 2008 (Bronze) at Singapore Corporate Awards 2009, Board Diversity Award (Co-Winner) at Securities Investors Association of Singapore (SIAS) Investors Choice Awards 2009, first place in Corporate Governance Award in the Mainboard category at Securities Investors Association of Singapore (SIAS) Investors Choice Awards 2008, and more. 5. Corporate Social Responsibility by SMRT Corporate Social Responsibility (CSR) means that a corporation should be held accountable for any of its actions that affect people, their communities, and the environment. It implies that harm to people and society should be acknowledged and corrected if at all possible. It may require a company to forgo some profits if its social impacts seriously hurt some of its stakeholders or if its funds can be used to have a positive social impact (Post, Lawrence, Weber, 2001, p. 58). SMRT believes that their success has to be channeled towards the greater good of the community. SMRT Corporate Social Responsibility programme sets out to make a positive impact on the economic, social and environmental well being of the communities that they serve. Some of the sustained programme that has been made by SMRT to enhance and improve the lives and welfare of the community are: 5.1 Corporate Philanthropy Corporate philanthropy has become important as companies are expected to do more than just give back to the community. SMRT corporate philanthropy programme is directed at voluntary welfare organisations, national events, education, sports, arts and the environment. In Financial Year 2006, SMRT made community contributions totalling S$3.18 million in cash contributions and sponsorships such as media space and corporate gifts. Some others of the philanthropic contributions that have done by SMRT are: SMRT Silver Tribute Fund The SMRT Silver Tribute Fund (Fund) is SMRTs biggest corporate social responsibility initiative to-date. SMRT Silver Tribute Fund was launched in December 2006 as a holistic corporate philanthropy and community outreach effort. All money raised by SMRT Silver Tribute Fund will go towards the six beneficiaries such as: Alzheimers Disease Association Specialised Caregiver Support Service (Dementia), Ang Mo Kio Family Service Centers -Ang Mo Kio Yio Chu Kang Community Carers Scheme, Asian Womens Welfare Association AWWA READYCARE Centre, Geylang East Home for the Aged (GEHA), Singapore Leprosy Relief Association Home, and Tan Tock Seng Hospital Community Charity Fund Helping Elderly Patients Programme. Donations and media support for National Day Parade and support of the birthday celebrations in various ways including provision of a SMRT Train for Singapore Express, a community project which brought together 12,000 Primary Five students from 42 schools island-wide to design National Day decorations for public transport and bus stop shelters. Train ride for 200 disabled persons to promote community awareness of the unique needs of the disabled. Sponsorship of three SMRT buses as exhibition space for exhibits on environmental care for the Marine Parade Town Councils Clean, Green and Hygiene Carnival. Donation of a de-registered SMRT taxi to Alexandra Hospital for its Car Transfer Rehabilitation Programme. Partnership with the National Council of Social Services for the Disability Awareness Public Education Campaign. 5.2 Environment SMRT is committed to be an industry leader in environmental stewardship. SMRT prioritize and responsible to contribute to create a cleaner and greener environment. To embrace environmentally-friendly policies and practices in their business, operations and infrastructure, SMRT launched SMRT is Green in April 2008. SMRT make a conscious effort to adopt green practices in their operations in terms of energy, water, air and waste management. With all their concern and hard work to preserve the environment, SMRT received some awards for their contribution such as Most Energy Efficient Metro award at The Metros Award 2010, Top Achiever, Singapore Environmental Achievement Award 08/09 from the Singapore Environmental Council, two awards at the Land Transport Excellence Awards (LTEA) 2010 as the Most Eco-Friendly Transport Partner and the Most Creative Promotion/Campaign, and many others. 5.3 Community Outreach SMRT is active in outreach programmes that add colour and vibrancy to community while promoting the SMRT brand name. These programmes have been done to entertain, educate and inform to the public through their transport network. Some of the programmes are: SMRT Courtesy and Safety Programme This annual programme serves to remind commuters to adopt safe and well-mannered behaviour while in transit. The highlight of the programme is the SMRT Challenge. Courtesy and safety messages were also publicised via action packed road shows at our train stations, publicity posters, as well as through an art competition for children. SMRT and National Library Board (NLB) Read and Ride Programme The magic of books come alive for children of the Internet generation on MRT train. This partnership with NLB is complemented by the annual SMRT Tales on the Trains. These are story-telling sessions on board SMRT trains and are held during the school holidays. Hui Chun at SMRT MRT Stations SMRT transform one of their stations into a place of celebration to spread festive cheer among their commuters every year. SMRT are always joined by calligraphers and artists from the Life Art Society who will give out auspicious couplets and brush paintings, all of which are completed on the spot. 5.4 Safety and Security Safety and security is the top priority and the forefront of SMRT business and operations. To encourage and train the community to play a more active and effective role in enhancing safety and security in the public transport system, SMRT make a programme which is called by SMRT Community Emergency Preparedness (SCEP). The SCEP is the first integrated transport security training programme by a public transport service provider and is develop as a Public-Private-People (3P) partnership, in collaboration with the Land Transport Authority (LTA) and Ministry of Home Affairs Home Team departments. The registration to join the SCEP programme is free and all the participants will undergo three hours of theory and four hours of practical lessons. 5.5 Current Issue in Market and Media In order to celebrate World Environment Day, SMRT launched its third Go Green with SMRT public transport education campaign on 5 June 2010. The campaign, which runs till 30 September 2010, highlights the benefits of taking the train and bus better air quality, reduction in carbon emissions and lower carbon footprint per passenger kilometre. The campaign which promotes public transport for cleaner air and better health launched with giveaway of 300 limited edition travel passes to commuters who wear special badges and pledge to add public transport into their travel mix. The 300 limited edition travel passes are on top of the monthly draw (3-month free rides for 1 on SMRT trains and buses) and grand draw prizes (1-year free rides for 4 on SMRT trains and buses). 6. Conclusion Nowadays, majority companies implement Corporate Social Responsibility (CSR) as a form of their commitment to take care of the community and environment. SMRT Corporation Ltd is one of the company which implements CSR programme. With the implementation of CSR in their company means that SMRT is the company which is responsible for the welfare of the community and environment. One of the CSR programme that has been done by SMRT is committed to a clean and green environment by using environmental friendly fuel. Other CSR programmes are including corporate philanthropy, community outreach, as well as safety and security.
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