Market Analysis of Leasing Industry in Sri Lanka Essays

Market Analysis of Leasing Industry in Sri Lanka Essays Market Analysis of Leasing Industry in Sri Lanka Essay Market Analysis of Leasing Industry in Sri Lanka Essay This situation has changed drastically during the latter part of 2012. With these changes many banks and leasing companies experienced a slowdown in their leasing business activities Also Neffs have faced a fears competition from the Laces due to the rate differences In the assignment the author will analyze the current market situation and identify current issues and challenges faced by the Industry as a whole and by he selected entity Citizen Development Financial Services Pl COB. PESTLE analysis is conducted to analyze the environment and total market situation and SOOT was carried out to identify the strengths and opportunities to eliminate weaknesses. By application of marketing models, tool theories the author has arrived at a marketing strategy to go forward in next two years and also remedies for the challenges and problems. An actual Marketing budget is proposed along with actions and time lines for the implementation of the above. 1. Situation Analysis 1. 1 Sir Lankan Financial Industry Overview Characteristic of this island nation which has always surprised economists with its resilience and dynamic kinetics despite challenges that have impacted not only the region and the world, but the country itself, Sir Lankan once again posted strong economic growth, posted at 6. 5% at end 2012. This is remarkable given that this growth, though slightly reduced from the original projection still remains above both regional and global growth paradigms. The Sir Lankan banking and financial services industry is vibrant and market driven and hence as a consumer you are at an advantage. There are around 0 institutions, including commercial banks, licensed specialized banks (savings banks and development banks) and licensed finance companies. When we look at the statistics of the Central Bank we can clearly see the trend of increasing revenue and asset bases of non banking financial Institutes. Our target company which is Citizen Development Financial Services hereinafter refer as CDC , belongs to the Non Banking Financial Institutes and offers Leasing as their main product in product portfolio. Though there were some hiccup and fluctuation in global and Sir Lankan economy what we can e it Financial industry as a whole is not affected very much. Collapse of Ceylon group and its financial institutes made an effect but couldnt withhold the progress of the sector. 1. 2 Company Overview Citizen Development Business Finance CDC one of the Sir Lands fastest growing financial institution ( Sixth place in the NAB sector) , offering wide range of financial solutions to its customers through their Island wide branch network. . 2. 1 Vision of the company To be the financial power house that will foster entrepreneurial innovation and workmanship towards building up our nations economy to make sustained gains in living standards of Sir Lankan For the last few years after coming out of the Ceylon group umbrella as an Independent financial institute they have grown faster than the industry in terms of top line and bottom line. Branch network has expanded to 55 and also north and east aft er the end of ethnic conflict in Sir Lankan. Also for the past few years company is achieving its key performance indicators through Also they have come up in the corporate arena in Sir Lankan and recognized as one of the most valued brand in Sir Lankan for consecutive years. ( By LAM ) Source : Lankan Monthly Digest ( LAM ) Courtesy : Media Services (Pit) Ltd 1. 2. 2 External Environment- PESTLE Analysis It gives a birds eye view of the whole environment from many different angles that one wants to check and keep a track of while contemplating on a marketing plan. During the PESTLE analysis we are considering the macro environment in terms of Political, Economical, Social, Technical, Legal Environmental frameworks. Economical Interest rate movement, inflation rate movement and exchange rate movement have a considerable impact Central Bank tightened its monetary logic stance by raising policy interest rates ( raise of market interest rates due to this ) and imposing a ceiling on rupee lending. Possibility of further monetary-policy tightening will be heightened by CBS. Inflation has continued to remain at single digit levels for over 3 years declining on a on-year basis to a very low level of 2. Per cent in February 201 2 due to cautious monetary and fiscal policy CBS had largely ceased its intervention in the foreign-exchange market. This had allowed the rupee a certain degree of flexibility to flow. The relaxation of exchange-rate controls had led to appreciation for the rupee in recent past stabilization afterwards. The volatile global econ omic landscape Political Nobles, faced changes in taxation policy and some inconsistencies The increase in tariffs on imported vehicles impacted consumer purchasing behavior considerably, led to an emergence of difficulties in achieving lending targets. Prolific increase in the importation of motor vehicles, coupled with high demand for fuel, rising carbon dioxide emissions and traffic congestion, saw the Government strategies to reduce the encumbrances on its import payments, infrastructure and carbon footprint. This led to a revision on the excise duty on motor vehicles to lessen the burden. Legal The supervisory and regulatory framework continued to strengthen with several diktats issued for both banks and Elfs. Sells were subjected to assessment of fitness and propriety of Directors and key management personnel, as well as changes to definitions in the compilation of key indicators A panel of external auditors was appointed to conduct external audits of Nobles. Financial reporting is slated to improve further with the entirety of the financial sector becoming FIRS compliant, believed to be a mounding step in promoting greater harmonistic with international regulatory standards, which in turn prompts increased resilience. Environmental COBs prime business segment is in leasing and in that, being in vehicles. With vehicles being a primary source of carbon dioxide emissions, Companys responsibility therefore is to reduce these emissions and work toward minimizing the harmful impacts. Green initiatives by customers, business partners communities resulted better management practices via paper recycling, saving of electricity and water and even appreciation of Sir Lands unique wetlands. Technological Given the long term partnership we mooted with Commercial Bank Of Sir Lankan where the Command ATM network can be accessed by CDC customers First N.B. to have a fully operational Core Banking Solution networking entire operations Social Pressure from the socio-cultural variables prevalent in a multi-dimensional country like Sir Lankan, CDC has to focused on social variables . One such is the diversification into Islamic Finance which functions according to Shari ah law, based on parameters prescribed by internationally accepted Shari ah scholars. 2. Product Category Review Total leasing category in the country is growing at a steady rate and two major sectors Licensed Banking N.B.. As a total the whole industry has grown significantly over the past years. The following graph show the growth in industry, When you consider the total credit and loan facilities leasing plays a significant portion of that as a whole ( Including Banks Nabs ) 2. 1 CDC Leasing COBs prime business segment is in leasing and in majority is comprised with the vehicle leasing. Throughout the 1 7 years journey of the company their main product officer is being Leasing. Product portfolio of COB The above graph show the significance in the leasing products for the company which the revenue contribution is more than 50%. 2. Distribution profile CDC Distribution Chain Nell mainly comprises of four components a. Branches b. Area development offices c. Dealer Network d. Service Center above channels are catering to customers and their requirement and we have seen a rapid growth in distribution channels in last few years 2. Pricing overview , Offering Packaging Segmental Pricing Approach is being deployed through the product line. Even though the main product being CDC leasing there are sub products and rand for different segments have offered. Following table shows the offering portfolio. Product Category Key Brands Offering Leasing CDC Leasing This is the main brand of CDC when it comes to Leasing COB Batty Lease COB Mini Truck Lease These two brands to focus on providing lending to small truck segment Small Car Lease Brand which facilitate small cars below 1 000 C engine capacity CDC -AWE Lease This brand is focusing on attracting three wheeler 3. Competitive Analysis The leasing products were dominated by the Nabs in early year and then Commercial Banks started leasing as a product offer in their portfolio with increase of demand for motor vehicle leasing sector in the country. Imports of the vehicles have grown significantly year by year in each segments personal, Transportation, Trade land vehicles, motor Cycles T-Wheelers. Bank have a competitive advantage over the leasing rates since they can offer l ow rates compared to Neffs . The reason behind this is cost of funds for the banks are low where as Nabs cost of funds high since its mainly depending on the fixed deposits. 3. 1 Major Competitors in Leasing Sector in Sir Lankan Commercial Banks Non Banking financial Institutions Commercial Bank Pl Bank Of Ceylon Peoples Bank Wheaton National Bank Sympathy Bank Sealant bank Peoples Leasing Financial Services ( PL ) nana Iris Leasing Company Limited ( LOC) LB finance COB Commercial Credit Leasing Within the Nabs , CDC share a 4% of market share in leasing category where there is a huge potential for expansion and intrude in to competitor markets. . 1. 1 Competitor Pricing Overall pricing range of N.B. remains same and but different types of strategies used to attract customers a. Extended Durations Initially almost all institutions offered a duration of 4-5 years leasing term has increased up to 7 years to reduce the monthly installment payment. B. Structured Leasing Leasing is structured by SSH fitting the bulk paying amount to different stages Of the payment structure. E. G. Initial payment of 1 Million to be pay after end of the second year .

Origins of the Expression Honi Soit Qui Mal Y Pense

Origins of the Expression Honi Soit Qui Mal Y Pense Honi soit qui mal y pense are French words that  youll find on Britains royal coat of arms,  on the cover of British passports, in British courtrooms, and elsewhere of note. But why does this Middle French expression appear in weighty official uses in Britain?   Origins of Honi Soit Qui Mal Y Pense These words were first uttered by Englands King Edward III in the 14th century. At that time, he reigned over a part of France. The language spoken at the English court among the aristocracy  and clergy and in courts of law was Norman French,  as it had been since the time of William the Conqueror of Normandy, starting in 1066. While the ruling classes spoke Norman French, the peasants (who comprised the majority of the population) continued to speak English. French eventually fell out of use for reasons of practicality. By the middle of the 15th century, English again ascended to the throne, so to speak, replacing French in British centers of power.   Around 1348, King Edward III founded the Chivalric Order of the Garter, which today is the highest order of chivalry and the third most prestigious honor awarded in Britain. It is not known with certainty why this name was chosen for the order.  According to historian Elias Ashmole, the Garter is founded on the idea that as King Edward III prepared for the  Battle of Crà ©cy  during the Hundred Years War,  he gave forth his own garter as the signal. Thanks to Edwards introduction of the deadly longbow, the well-equipped British army proceeded to vanquish an army of thousands of knights under French King Philip VI in this decisive battle in Normandy. Another theory suggests a totally different and rather fun story: King Edward III was dancing with Joan of Kent, his first cousin and daughter-in-law. Her garter slipped down to her ankle, causing people nearby to mock her. In an act of chivalry, Edward placed the garter around his own leg saying, in Middle French, Honi soit qui mal y pense. Tel  qui sen rit aujourdhui, shonorera de la porter,  car ce ruban sera mis en tel honneur que les railleurs le chercheront avec empressement  (Shame on him who thinks evil of it. Those  who laugh at this today will be proud to wear it  tomorrow  because this band will be worn with such honor that those mocking now will be looking for it with much eagerness).   Meaning of the Phrase Nowadays, this expression could be used to say Honte celui qui y voit du mal, or Shame on the one who sees something bad [or evil] in it.   Je danse souvent avec Juliette...Mais cest ma cousine, et il ny a rien entre nous: Honi soit qui mal y pense!ï » ¿I often dance with Juliette. But she is my cousin, and there is nothing between us: Shame on the one who sees something bad in it! Spelling Variations Honi comes from the Middle French verb honir, which means  to shame, disgrace, dishonor. It is never used today. Honi is sometimes spelled honni with two ns. Both are pronounced like honey. Sources History.com Editors. Battle of Crecy. The History Channel, AE Television Networks, LLC, March 3, 2010. The Order of the Garter. The Royal Household, England.

Operations Strategy and Timeline of Managed Project Coursework

Operations Strategy and Timeline of Managed Project - Coursework Example Starting from the last activity that is K the latest finish time calculated by adding up the earliest start time with the time taken for the activity K. Then time taken by each activity is subtracted accordingly so as to determine the latest finish time of every precedent activity. The critical path of the project is the longest path on the network or the maximum time that the project will take. In this case, the critical path would be from C to F to G to H to J to K as this path will the longest time. The time taken on the critical path will be: The activity H is the user acceptance testing which is a critical activity in this project as the activity lies on the critical path. The current length of the critical path will increase by three weeks as due to the delay of three weeks in activity H. This activity is the user acceptance testing where the user of the software make their decisions regarding acceptance of the software which shall be used for the operations managers are the next activities that are connected to Hare J i.e. implementation and K i.e. handover. The three weeks delay in activity H can be handled appropriately by shortening the times that the next activities consume. The next activities are connected with the activity H, as J is the activity where implementation of the software is done which can be set short as when the user acceptance testing takes time then the user modifications are fully understood and implemented. When the user specifications fully satisfy the implementation stage can be cut short in o rder to affirm that the critical time for the project does not exceed. The activity H lies on the critical path and the delay in this activity will cause serious troubles regarding the extension in critical time for the completion of the project.