Essays on Citibank

Introduction

In the world of commerce, most individuals and organizations act on the basis of delegation. And delegation of authority leads to the formulation of an agency relationship. The agency theory is based on the view that a principal vests power in an agent to represent the principal in certain situations specified in the agreement. This creates a fiduciary relationship and the agent will have to act in the best interest of the principal. Fiduciary relationships mean an agent must act in the best interest of the principal. This include the provision of some parameters within which the agent can ...

Business

Interview Results I chose to interview the friend of my family, who works as the Head of Analytical Department in the Citibank. His name is Richard Rees and he works at one of huge number regional departments of the above mentioned bank. Mr. Rees has been with Citibank for the past twelve years. He started as a junior analyst in this company. The interview included the wide range of questions, which were linked to the development of the banking sector in the international market, external and internal factors that could impact on the company. All questions were divided into ...

Question 1

The role of the head offices is essential for a Multinational Companies to achieve strategic success in the cross-market integration. The head offices are the places where the almost all significant functions of the organization are harmonized. Therefore, the head offices provide environment where the full responsibilities of business activities are coordinated and managed. The head office enables the managers to formulate and coordinate policies that can be applied to both international and local operations. As a result, the head office provides specific strategies that can help the MNC to meet their objectives and hence achieve strategic success. The head office ...

Introduction

Six Sigma is defined as a set of tools and techniques for process improvement. In 1986, six sigma was developed by Motorola. It was developed by Jack Welch at central as a business strategy for General Electric later in 1995. Currently, it has been adopted by many industrial sectors. It is intended to advance the quality of process outputs first by identifying and removing the root causes of defects and minimizing the variability in business and manufacturing processes (Sokovic et al., 2010). Often, it uses a set of methods for quality management such as statistical methods meant for creating a special infrastructure within ...

Recommendation and Justification

In my opinion, growing through acquisition is a better solution than becoming more mainstream. Growing through acquisition means that the Citibank can purchase banks in the saturated markets. As a result, the product portfolio of the bank will be improved, which will play a great role in helping the bank with its many services. Purchasing bank will help the bank spread out the work, which will take the pressure of the employees off. Thus, the employees will be able to work freely, which will result to provision of high-quality services to the new and esteemed customers. Citibank can use the growing-through-acquisition solution ...

Executive summary

It is the dream of every company to operate globally. This is usually achieved after successful dominance in the domestic market. The Emirates Islamic Bank has been operational in the UAE for a reasonable time and it has gotten to a point of willing to extend its operations in the United States. There are various reasons why the United States has been the first target country for expanding operations. These factors are political, legal, economic, and social-cultural prowess of the country. The bank wishes to extend its Islamic banking system to the world’s most successful country as there are a ...

Timothy Noah’s invective against the high cost of college does not offer any new insight to those who have been faced with the exorbitant price of attending a university or college during the last decade or so. The reason for price inflation at the college level, according to Noah, is due to the fact that a college degree is an “obvious necessity in this economy that people will pay nearly anything for it, and colleges know that” (Noah 2013). According to Noah even after “controlling for inflation, tuition and fees have risen 26 percent during the past ten years at ...

Dear Program Director:

I am a Managing Director in Citibank's Global Structured Solutions Group, a part of Capital Markets Origination. I am a tax attorney by training, and my current role is to lead and develop a tax residual liability trading business. I was initially introduced to Nitin when he was a project leader in the technology group. At the time, my group and I were working on developing a pricing model for complex tax securities. Nitin single handedly managed and wrote the code for the pricing of those tax securities. He had no prior knowledge or work in this space, but was able to develop our ...

Introduction

Actions are essentially dictated by the values. Identifying both actual and proclaimed organizational values will actually assist an institution guarantee that all of its actions are indeed commensurate with these values hence this will enable such an institution initiate a robust structure that is essential in supporting values operationalization. Various ethical issues for institutions and especially international ones arise due to differing value systems. For that reason, ethical audit will fundamentally enable an institution establish guidelines that are clear about acceptable behavioral limits. Ethics audit refers to the systematic evaluation of the ethics programs or performance of an organization ...

Abstract

The following report describes different sources of capital a company may use in order to finance its operations and investing activities. In particular, it analyses debt financing (bonds and direct bank loans) and equity financing (Venture Capitalist Investments, Initial Public Offering, Seasoned Equity Offering and Rights Offering). Report also analyses recent IPO of Manchester United Football Club at New York Stock Exchange as a practical example of raising capital.

Sources of Capital

The impact and the importance of financing in modern business world could not be underestimated. Globalization and increasing competition have forced companies to explore new markets and offer new innovative products. According ...

INTRODUCTION

Growingly knowledge based economies have changed the dynamics of contemporary business world. Industrial landscapes are showing quick adaptability to the innovations that are capable of generating some core benefits for the business (Wilson and Doz, 2012). In contrast to the traditional business world where banking industry remained to be business of borrowing and lending only, contemporary banking has expanded business vision far beyond than core services (Pennings & Harianto, 1992; Morone & Berg, 1993). For instance, Citibank NA renowned bank of US with worldwide presence offer great deal of services to its customer ranging complete solutions to the financial processes ...

INTRODUCTION

Growingly knowledge based economies have changed the dynamics of contemporary business world. Industrial landscapes are showing quick adaptability to the innovations that are capable of generating some core benefits for the business (Wilson and Doz, 2012). In contrast to the traditional business world where banking industry remained to be business of borrowing and lending only, contemporary banking has expanded business vision far beyond than core services (Pennings & Harianto, 1992; Morone & Berg, 1993). For instance, Citibank NA renowned bank of US with worldwide presence offer great deal of services to its customer ranging complete solutions to the financial processes ...

Understanding, Threats, Vulnerabilities and Consequences

Chosen Organization – Citibank (A Citi Group Banking Company) About the Company Citibank is a part of the Citi Bank Group that offers a wide array of banking needs, products and services to millions of consumers, governments and commercial organizations. This business organization thrives in serving over a million clients with financial services that deliver consistent client-centric such as retail banking, credit cards, retail services and mortgage (Citigroup.com). The chosen organization is a commercial business that belongs in the banking industry. It is an organization that has strategically placed itself in key locations around the world where major financial institutions can be ...

The Organization

“Common Purpose: One team, with one goal: serving our clients and stakeholders.

Responsible Finance: Conduct that is transparent, prudent and dependable.

Ingenuity: Enhancing our clients’ lives through innovation that harnesses the breadth and depth of our information, global network and world-class products.

Leadership: Talented people with the best training who thrive in a diverse meritocracy that demands excellence, initiative and courage. (http://www.citigroup.com/citi/investor/quarterly/2011/ar10c_en.pdf).”

According to their Facebook page, Citi states that their “goals of the Citi organization include educating people worldwide about finance, create microfinance institutions that provide microfinance loans in developing countries, and promote women and minorities to positions of ...

CREDIT CARD FRAUD

Memo Based on FBI Investigations against Benjamin Creighton

ATM & MASTERCARD FRAUD

CITIBANK, Petitioner

v.

BENJAMIN CREIGHTON, Respondent

PERSUASIVE MEMO ON BAYLOR’S CASE

Citibank, a credit card issuing company presented a concern to the FBI regarding an irregularity detected in the use of a credit card of their customer Terry Creighton. The bank realized that Terry Creighton had not paid her monthly bills for a couple of months and had gone to a position of using up her overdraft protection few. Due to the concern of the turn of events which was not the norm Citibank tried to contact Terry Creighton regarding her account. However, Terry Creighton ...

Abstract

This paper does an analysis of Enron’s debacle and why it was termed as the biggest and the most complex financial fraud in U.S. history. The paper highlights the desperate attempts by the bankers, auditors and top leadership at Enron Corporation to hide the actual liabilities. They successfully did this by balance sheet management and skewed accounting treatments permissible for using the restructured assets under financial reengineering. The attempts to show profits led the top leadership at Enron and the entire financial system to abet in the svelte white collar crime of fooling the investors by dressing up ...

The court will probably have to decide on the issue of modification of the credit cards, whether it failed, or not based on three things. To do this, it must ascertain whether there was sufficient consideration for the modification, whether the defendants participated in deceptive practices so as to encourage approval of the modification, and whether the defendants interpreted silence as approval, in infringement of the common law of contracts.

The plaintiff can argue based on breach of contract .in that, by considerably varying the terms and conditions of the agreement devoid of the plaintiffs' consent, the defendant breached ...