Banking System Essays and Research Papers

Instructions for Banking System College Essay Examples

Title: GDP and economic growth in Ireland

  • Total Pages: 5
  • Words: 2337
  • Works Cited:5
  • Citation Style: APA
  • Document Type: Essay
Essay Instructions: Write an essay on Ireland's GDP and economic growth for the period of the past 10 years. To help you frame the essay, you may want to consider the following steps.

1. Collect information about the country such as

a. Brief history
b. Economic conditions and infrastructure
c. Data on GDP and economic growth rates for the past 10 years
d. Macroeconomic information such as regulatory environment, inflation, labor, capital accumulation, transportation, import and export
e. Government role
f. Major factors that have driven or hindered the economic growth

2. Readings could be journal, newspaper, or internet articles on the GDP and economic growth of the selected country. (For example, Robert Barro is one of the most influential economists on economic growth. You can search his interviews or articles online. You may also find interesting articles on the economic growth of selected country on many websites like the Economist, BusinessWeek, New York Times, Wikipedia etc.)

3. Write an essay aiming for a maximum of 5 pages (excluding the title page, abstract, and references). Make sure your essay provides the information that addresses the questions/issues stated below. Provide specific examples to support your arguments if necessary.

a. Country name
b. Basic demographic and economic infrastructure (this could be population, geography, climate, economic sectors, regulatory environment, financial and banking systems, currency, inflation etc.)
c. GDP over the selected period of time
d. How fast has GDP or real GDP per capita grown?
e. Define and calculate the economic growth rates
f. The patterns of growth in the country (use graphs if necessary)
g. What are the major sources of economic growth in that country? Elaborate each of the four wheels of growth for the country.
h. Explain the problems or challenges for sustained growth
i. Use one of the economic growth theories to explain the growth.

Content of Essay

a. Title Page
b. Abstract
c. Main Body
- Purpose of study (explain why you wanted to do the research that you had picked)
- Target of study (provide a brief account of the country of your study)
- Method of study (describe the method(s) you had used in your study)
- Findings (describe what you had found in your study)
- Conclusion (write a conclusion of your study based on your findings)
d. References and external links

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Title: Shadow Banking on the International Level

  • Total Pages: 4
  • Words: 1641
  • Bibliography:10
  • Citation Style: Chicago
  • Document Type: Research Paper
Essay Instructions: This assignment is based on Shadow Banking at the International Level, consist of writing a memo to FBS (The financial Stability Boad) (website:http://www.financialstabilityboard.org/) in no more than 1300 words (excluding references - from at least 10 sources)
In this memo I should do respond the following:
(1) a definition of international shadow banking;
(2) a set of policy recommendations addressing shadow banking issues at the international level.
This memo is assumed to feed into the St. Petersburg Summit planned in September 2013.

Based on the above above assigment, have the following considerations:
In November 2011, G20 Leaders adopted the FSB (financial stability boad) report, SHADOW BANKINGS: Strengthening Oversight and Regulation, which set out a work plan to develop policy recommendations in 2012. Read
(http://www.financialstabilityboard.org/publications/r_121118b.pdf) and
http://www.financialstabilityboard.org/search/?sp_q=shadow+banking&adv=1)
On the 18th November 2012, the FSB published for consultation (until 14 January 2013) an
initial integrated set of policy recommendations to strengthen oversight and regulation of the
shadow banking system (see http://www.financialstabilityboard.org/). The set of documents
published includes the following reports:
???? An integrated Overview of Policy Recommendations;
???? Policy Framework for Strengthening Oversight and Regulation of Shadow Banking
Entities;
???? Policy recommendations to Address Shadow Banking Risks in Securities lending and
Repos;
???? Global Shadow Banking Monitoring Report 2012.

Please consider the above literature and reports when writing the memo on behalf of the FSB. References ca be completed in Chicago or MLA style.
Please also include as reference Zoltan Pozsar article in shadow banking (http://www.newyorkfed.org/research/staff_reports/sr458.pdf)

Please do not hesistate to contact me if you have any questions. Thank you!

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Title: Risk Managment in Banks Reference to Indian Banks Industry

  • Total Pages: 16
  • Words: 4399
  • Sources:6
  • Citation Style: APA
  • Document Type: Essay
Essay Instructions: In this articles I want to focus on how banks faces risk with special reference to Indian Banking System.
Please include some sort of Tables and Diagrams.
Please refer Indian textbooks and Indian Journals for Bibliography.




For your further information, Please look at the below mentioned Research Paper in the Web

1. To know about the theoretical aspect of Risk management approach. 2. To know about the implementation of this approach in Indian banking sector. 3.
www.scribd.com/.../NATIONAL-SEMINAR-HOLISTIC-RISK- MANAGEMENT-AN-APPROACH-TO-INDIAN-BANKING-SECT... - Cached

2. Future of Risk Management in Indian Banking Industry. Thursday, June 10, 2010. By Aashika Agarwal & Sudhir Sirohy ...
www.coolavenues.com/.../future-risk-management-indian-banking-industry - Cached
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Title: I ordered essay wrote order number A2015964 october november 2010 But I list sources books articles journals essay I put text essay I make a References Harvard style essay sources text brackets

  • Total Pages: 3
  • Words: 1083
  • References:50
  • Citation Style: Harvard
  • Document Type: Research Paper
Essay Instructions: I ordered the essay and you wrote it for me (order number A2015964 about october-november 2010). But I hadn't the list of the sources (books, articles, journals, etc.) which used in the essay. I put here the text of this essay and I want that you make a References in Harvard style for this essay (sources are indicated in the text in brackets).

???? is the essay:

Abstract

Types of organizational cultures were studied, the types prevalent in Russian and foreign banks were defined. The research was focused on the analysis of existed organizational culture under the former leadership of the Sberbank and of the changes in the last three years after the appointment of acting head of the Sberbank.

This investigation contributes to theoretical research, aimed at changing and improving organizational culture in the Russian banking sector. Within the investigation several hypotheses were put forward to specify a research objective. The investigated hypotheses are the main methodological tool, which organizes the research process, describing its internal logic.

Questionnaires were designed for more in-depth and detailed analysis of the investigated hypotheses. The survey was conducted among both the Sberbank employees and employees of other companies, including Russian and foreign banks.

The main empirical conclusions of the performed research confirm that a particular impact on staff satisfaction with the organizational culture of the company are:
- Human relations (understanding and support, morale climate),
- Regulatory environment (regulations, standards, codes, official policy and philosophy, mission and tradition of the organization, unwritten rules),
- The attitudes of the organization towards the staff (recruitment, training, staff turnover),
- Motivation (system training, career ladder, in-house training).
During the investigation found that the influence of other date is negligible (stability of the rules and regulations, etc.).


The result of the investigations was the recommendations for the seniors of the company, as well as for middle- and lower-level managers to modify and improve the organizational culture of a particular bank to succeed in achieving the strategic goals. These recommendations may also be used by other Russian banks, as well as the legislative bodies of the Russian Federation to improve the regulatory environment of labor legislation.

Acknowledgments

I am very grateful thankful to my project manager ??? for his advice and guidance at all stages of my investigation at the project. I would also like to thank Professor ??? and ??? for their wishes, comments and suggestions, which helped me understand the chosen issues better, its specificity and to structure my work and project much better.

I am very thankful to my colleagues who are studying with me at the moment, who agreed, took the time and to become participants in my surveys, filling out a questionnaire and taking part in subsequent discussions on the project results despite their workload at office as well as working on their projects and assignments.

I am also grateful to my family and my friends for their endless patience, support, help and understanding.


Contents

ABSTRACT 2
ACKNOWLEDGEMENTS 2
CHAPTER 1. INTRODUCTION 5
1.1. The issue and its importance 5
1.2. The research questions, aims and objectives 5
1.3. Details of business context 5
1.4. The Route map of the report 5
1.5. The results of research and recommendations for their practical use 5
1.6. Limitations of the study 5
CHAPTER 2. BACKGROUND TO THE PROJECT 6
2.1. Overview of the Russian banking sector 6
2.2. Experience of foreign banks 6
CHAPTER 3. LITERATURE REVIEW 6
3.1. Decision to change the organizational culture: theoretical and empirical approaches 7
3.1.1. Theoretic approach 7
3.1.2. Empirical studies 7
3.1.3. Timing decision for change the organizational culture 7
3.2. Other options for company management 7
3.3 The choice between changing of the organizational culture and ??? (from part 3.2.) 7
3.4. Research hypotheses of the present study 7
CHAPTER 4. THE MODEL 7
4.1. Construction of the model 7
4.2. Decision-making 7
CHAPTER 5. METHODOLOGY 7
5.1. The main stages of the study 8
5.2. Approach to data analysis 8
5.2.1. Survey 8
5.2.2. Questionnaire 8
5.2.3. Interviews and feedback 8
5.3. Potential limitations of the analysis and approach chosen 8
CHAPTER 6. DATA 8
6.1. Secondary data 8
6.2. Primary data 8
6.2.1. Survey 8
6.2.2. Questionnaire 8
6.2.3. Interviews and feedback 8
6.2.4. Testing the model 8
6.2.5. Feedback from practitioners 8
6.3. Data limitations 8
CHAPTER 7. ANALYSIS 9
7.1. Russian banking sector: testing the model 9
7.1.1. Applying the Model 9
7.1.2. Post-changing the organizational culture performance analysis 9
7.1.3. Conclusions 9
7.2. Questionnaire Data Analysis 9
7.3. Using the model to determine the best strategy 9

CHAPTER 8. CONCLUSIONS AND RECOMMENDATIONS 9
8.1. Feedback from banking sector experts 9
8.2. Recommendations for managers 9
LIST OF TABLES AND FIGURES 9


































Chapter 1. Introduction




This chapter shows a brief definition of the problem, industry overview and aims. Also the main results of the investigation were provided, the advices on further investigations and the recommendations on the practical application of results are given.

1.1. The issue and its importance

The motivation to create this project served as a new development strategy of the Savings Bank until 2014 - namely, the need for its successful implementation.
The strategy involves a number of significant changes in the bank. In particular, one of the goals and objectives of the strategy - to change the qualitative indicators of development. As a result of these improved indicators of the bank should be:
- To improve skills in client work and become a leader in service quality;
- To increase productivity, as well as professionalism and commitment of staff;
- To improve management processes and significantly improve operational efficiency based on the most modern management techniques;
- Increase brand awareness and the degree of customer loyalty.

The main tool in achieving these goals is the corporate culture.

Analysis of previous and existing organizational cultures the Sberbank, as well as studying advanced Russian and foreign practices will improve it. Thus, by improving the organizational culture of the Sberbank will strengthen its position in the Russian banking market and achieve the financial and operating performance, adequate to the level of high quality universal international financial institutions.

1.2. The research questions, aims and objectives

The research question posed by this study is ?When is the appropriate time to modify a banks organizational culture to improve customer service and furthermore be able to effectively operate within a changing regulatory and economic structure?? The aim of this study is to determine the degree to which changes in management can alter the organizational culture of both Russian Banks and International Financial institutions as well. Furthermore, the objectives is to ascertain employee based responses that can lend credence to the evolutionary constructs that are hypothesized within this study.

1.3. Details of business context

In the late 1990's, Russia faced the challenge of building public trust in both its young democracy and in its newly liberated democracy and in its newly liberated banking system. Near the end of the decade Russia had failed at both. Instead of developing a stable democracy built on laws, Russia became the ?Wild East? a country where rule of law had been replaced by a society without limits (JOHNSON 2000). This lawless environment constructed a business context that allowed for organizational culture to be manipulated to benefit a few at the expense of the customer.

1.4. The Route map of the report

The Study will involve Questionnaires and Surveys administered to employees of the main bank in Russia Sberbank. These studies will involve a series of questions related to Organizational Culture both prior to and after the changes in leadership. This analysis will involve a qualitative methodology that will attempt to determine the impact of change on the Organizational Culture within a financial institution. A statistical model will be constructed that will utilize various statistical analytic that will be employed to determine if the changes within Organizational Culture of major Russian banking institutions to improve institutional-client relationships, brand management as well as improving and increasing efficiency within the financial institutions.

1.5. The results of research and recommendations for their practical use
(Results based on the data derived from the surveys)

1.6. Limitations of the study
The survey method which integrates questionnaire and interview techniques will be chosen for this research paradigm and there are several inherent limitations and biases present within this model. First, the wording of the questions on the survey may be worried in a manner that is to complicated for the respondent to understand. If this occurs it will invariably lead to a decline in the number of responses and therefore decrease the sample population. Second, the response set might not be completely filled out. This also, will reduce the data gathered and adversely impact the statistical modeling that requires extensive data input.
The questions on the Survey might be leading. If a question is drafted in a manner that could be construed as ?leading? then the respondent may assume that the researcher is expecting a certain or specific answer. If this occurs, the data will be flawed as an accurate representation of the participants attitudes and values was not attained. Furthermore, some respondents may find some questions threatening, if they address certain behaviors some respondents may find embarrassing and therefore difficult to answer. As a result, the respondent may deny certain behavior or under-report it thereby impacting the validity of the underlying data and lead to response bias.



Chapter 2. Background to the project

This chapter will describe the banking sector. Need to continuously improve processes in the banks to withstand competition. What are Russian and foreign banks doing for these improvements, especially on the means of organizational culture.

2.1. Overview of the Russian banking sector

Across the vast landscape that is Eastern Europe the banking industry is increasing exponentially. The banking policies implemented within the Russian banking sector will continue to shape banking policies for years to come. At the outset of its development, Russia looked tow the west for their initial banking structure [ROSTOWSKI 1995].
The Russian banking system has developed from the Centralized-monotheistic format to a two-tiered system including a central bank and commercial banks, this is the structure of market-based economics in Russia [ JOHNSON 2000]. When the Soviet Union dissolved in the early 1990's, the national bank-Gosbank was eliminated, replaced with the Russian Central Bank (RCB) [CHORAFAS 2000] . Despite the appearance of autonomy, the Russian Central Bank was inevitably an extension of the Russian parliament subject to the corruption and manipulation that followed [BLOUNT 2004].
The 1993 Russian Constitution gave the RCB more autonomy; however the President of Russia had substantial influence on the bank's policies including the ability to appoint the bank's chairman, who in fiat, set the bank's policies; however these policies ultimately were controlled by the President and his advisers[GUPP 1999]. The Law on the RIB-enacted in the mid-1990's provided the statutory authority for the RCB[CHAMBLIS 2004]. This authority included controlling the money supply, monitoring transactions among banks, implementing federal budgets, monitoring the foreign exchange rate and maintaining currency reserves[VERDIER 2003].

The greatest role the RCB played in the early development of the banking sector came through the RCB's role in establishing monetary policy. The RCB controlled the money supply by lending funds to commercial banks and by establishing their reserve requirements[SMITH 1997]. Several years after the transition from Soviet style economics to free market, the RCB issued direct credits to enterprises at subsidized rates[ANDERSON 1998]. However, these credits were given to political influential sectors such agriculture. Additionally, the RCB also financed the state and federal budgets by issuing credits to cover government expenditures[MAXFIELD 1997].

These credits, unfunded liabilities in principle, played a dominant role in the inflation that dominated the Russian economy[FRAZIER 2000] . In 1995 as a result of this inflation, new regulations prohibited the use of credits issued by the RCB to finance government spending[VELNICK 1995]. The natural result of a collapsing Centralized banking model, inevitably lead to the rise of numerous commercial banks, these banks were of dubious quality and questionable business practices[KOTKIN 1995].

During the mid-1990's the RCB worked with the Russian government in establishing a core of large banks[ABA BANKING JOURNAL 2006]. The banks were required to meet specific operating and capital requirements. Furthermore, these core banks were viewed under a increased level of scrutiny in terms of lending practices and interest rates.

Toward the end of the '90's there were more than 3,000 Russian commercial banks[SIRONI 2003]. Although this is a significant number of banks, many of them were under-capitalized. As a result many of these banks ended up being merged into larger institutions or dissolving due to poor capitalization[LAPIDUS 1999]. Many of the Soviet-era banks, including Soviet-Era Savings Bank (Sberbang) were reorganized as the Sberbank of Russia, with the RCB controlling the majority of shares[HOWDER 2008]. In 1996 the Sberbank controlled approximately 65% of Russia's household savings; this figure represented a decline of 25% from1990 as numerous commercial banks engaged in competition[ISKYAN 2001]. In 1998, there emerged a crises within the Russian banking sector.

Customers began to withdraw their deposits and as a result many smaller banks defaulted and many large commercial institutions were significantly affected. Since the banking crises of 1998 there have been promising developments [PLATT 207]. The ratio of foreign debt to GDP has fallen roughly 25% coinciding with the high level of economic growth over the past several years[BAYER 1995]. The amount of reserve currency has increased exponentially from $12 billion to over $140 billion[LEHANE] 2006. Total claims held by the banking sector also have risen, from $50 billion to well over $200 billion. Finally, individual deposits have increased from $10 billion to approximately $63 billion[ROCK 2001].

2.2. Experience of foreign banks

Within a large foreign bank, culture changes are only possible if they are closely linked to organizational changes[STEIN 1994]. Change is possible if culture is ready to change accordingly. Organizations with ?frozen? cultures are unable to adjust to turbulent environments and by consequence may fail[PUTNAM 2003].

There are three core cultural changes methods at different stages of any organization's life cycle. These stages are: (1) The birth and early stages involve such change mechanisms as natural evolution, self-guided evolution through organizational therapy, managed evolution through the formation of hybrids such as joint ventures;(2) Organizational midlife stage involves incremental, sectional change combined with technology advancements and (3) Organizational maturity involves turnaround, reorganization and dissolution[NAHAVANDI 1993].

These trans-formative stages are prevalent in most large financial institutions; specifically those located in the former Socialist-Communist bloc[DIAMOND 1993]. The newly created private banks exhibit early stages of organizational culture. However as they progress through development it became necessary to transform the organizational culture to reflect the changing needs of the organization as a whole[COLLINS 1998].
The most important component of any organization's culture is leadership. Leaders promote organizational change by advocating for changes in the organizational culture. Leaders must possess a vision where the organization and its culture need to be in order to reach the organization's ultimate objective, which is increased efficiency and productivity in an ever changing, increasingly complex and uncertain business environment.

Chapter 3. Literature review

This chapter reviews the academic and business literature? Then, the works devoted to the issue of timing, i.e., ?when it is best to change or need to change organizational culture? are reviewed. Brief overview of other strategic options available for company management (opposite organizational culture).

3.1. Decision to change the organizational culture: theoretical and empirical approaches

Over the past twenty years a substantial body of research has manifested describing the nature of organizational culture. Although scholars have agreed that culture in some form or another exists within an organization; however the term ?culture? connotates a degree of inaccuracy and it is difficult to find a measure of agreement about its meaning. Organizational researchers have provided numerous and varied definitions along with constructs within which to examine organizational culture[DENISON 2003].

Predicated on previous research organizational culture is what a group of individuals learns over time and such learning is a multifaceted approach combining cognitive, behavioral and affective process. An organization;s culture is defined as behaviors expressed by its members. For example an organization's culture is demonstrated in a company promoting the socialization process that facilitates an employee's retirement decision[GAGLIARDI 2003].

This type of adaptation is referred to as organizational osmosis. Organizational Osmosis is a state where there is effortless adaptation of organizational ideas and values through per-existing socialization experiences. Since new members to an organization strongly identify with the values and goals of the organization, members submit themselves, willingly, to the various control methods employed by the organization[SCHRODT].

Although previous research on organizational culture has relied primarily on critical and/or interpretive approaches (e.g., 2000GIBSON & PAPA 2000; LINDBO &SHULTZ, 1998; WITMER, 1997), GLASWER, ZAMANOU AND HACKER (1987) attempted to rationalize and measure the construct. These researchers reviewed both management and communication research and identified six components of organizational culture that are central to any construction of organizational culture: teamwork, climate-morale, information flow, involvement, supervision, and meetings. Moreover, Glaser, Zamanou, and Hacker (1987) argued that in order for researchers to approach questions of whether organizational cultures can be managed, or whether such cultures enhance or diminish organizational performance, "a methodology must be developed for empirically establishing what an organization's culture is [emphasis added by the authors] at a particular point in time" (p. 175).

Given that researchers have identified the associations among organizational culture and employee retention (SHERIDAN 1992), person-organization fit (OREILLY, CHATMAN & CALDWELL 1991), productivity (KOPELMAN, BRIEF & GUZZO 1990), and executive decision-making (GAMBLE & GIBSON 1999), organizational culture appears to permeate every facet of the organization. As previously noted, Flamholtz (1995) suggested that at the apex of strategic organizational development is the development of an appropriate organizational culture within which management feels it can guide the organization. If concertive control is developed and maintained through the process of identification (TOMPKINS & CHENEY 1985), then the strategic development of an appropriate culture may serve as the primary mechanism through which an organization exercises unobtrusive control and attempts to develop identification in its employees. Thus, the beliefs, values, and information communicated through an organization's culture may indeed direct employee behavior indirectly (BULLIS & TOMPKINS 1989).
3.1.1. Theoretic approach
There are three essential theoretical approaches to understanding Organizational Culture. Integration Perspective, Differentiation Perspective and Fragmentation Perspective all lend themselves to the construction of various paradigms within which to analyze varying degrees of Organizational Culture and the role individuals play in manifesting particulate aspects of this culture.

The integration perspective focuses on the manifestations of a culture that have uniform goals and expectations. An integration perspective review of Organizational Culture sees consistency throughout the organization. Ultimately, this perspective excludes ambiguity-culture becomes a monolithic structure where only clarity is allowed. In studying Integrational Perspectives each element of an organization's culture is mutually consistent with each subsequent element, therefore this creates a framework of self-assuring cultural elements. Cultures have an inherently holistic approach to the well being of their employees and organization members, a long term perspective on improving employee morale and work performance along with a desire to control deviant behavior. Each of these principles are mutually consistent with one another and maintain this consistency throughout the entire organization, even into the lower sub-cultures.

The differentiation perspective focuses on cultural manifestations that are inherently inconsistent and hence differentiated. This can be seen when a C-level manager enacts a policy then behaves in a manner inconsistent with the vary policy they implemented. The differentiation perspective fosters consensus within the lower levels of the organization. These levels termed, the Sub-Culture, may exist in one or more constructs. They may be harmonious, independent or in conflict with one another. A Sub-Culture represents a form of ?group-think? a paradigm where ambiguity is removed. On some levels this paradigm represents an internal Integration Perspective within the broader differentiation perspective matrix.

The fragmentation perspective crystallizes the relationship among cultural representation as either totally clear or totally ambiguous. Fragmentation assumes that cultural relationships are inherently ambiguous and as a direct result ambiguity is at the core of cultural interactions. Fragmentation views consistency throughout an organization as fleeting and issue-specific.

3.1.2. Empirical studies

Empirical studies can be divided into three groups: (1) holistic; (2) semiotic studies and (3) quantitative studies. The preeminent holistic study was conducted by Rholen (1974), who presented an ethnographic review of his participation within a Japanese banking institution. Other Holistic studies include Kriegen's portrayal of a San Francisco radio station, Van Manning's (1979) study of police officers, Dyer's (1982) description of a computer company, Wilkins' (1983) study of subculture within an electronics company and Barley's (1983) study of the evolutionary framework in organizational roles within a hospital.
Although some of these studies use quantitative methods such as context analysis (MATIN 1984) or surveys (BARLEY 1983), most of these Holistic studies rely on field observations. These field observations provide vivid descriptions of organizational behavior and contrast the ?text book? definition of organizational structure with the reality of working within a organization.
The second type of Empirical study are the Semiotic Studies. Several of these studies use and Ethnoscience approach (GREGORY, 1983; BARLEY, 1983). Gregory conducted over 70 interviews of IT professionals at various Information Technology companies located in Silicon Valley. The linguistical analysis of the words and responses of the participants revealed several taxonomies that enable those originally from Silicon Valley adapting to their changing industry. Barley (1983) studied the linguistical context employed by funeral directors that allow these individuals to make sense of their industry. Pondi (1983) used ethnographic renditions of communist Chinese and African tribes to illustrate the effectiveness of using metaphors is assisting fellow group members in evaluating a uncertain or complex future.
The final category are the traditional quantitative studies. Ouchi & Johnson (1978) employed questionnaires to characterize the differences in various organizations. O'Reilly (1983) used questionnaires in several high tech companies in Silicon Valley to determine which companies have strong culture as opposed to weak culture. Friedman (1983) used content analysis of projective measures to reveal sub-cultures within a firm. Myer (1986) used a combination approach of both questionnaires and content analysis in order to examine the degree to which there are shared ideologies among sub-cultures.

3.1.3. Timing decision for change the organizational culture
The timing involved in deciding to change an organization's culture involves a critical assessment of the time element. First and foremost an organization's culture grows over time, it is a dynamic, living organism that will not react to drastic modifications from either internal or external dynamics. Any organizational manager must realize that members of the organization have grown accustomed to the cultural framework over the course of time. There is a degree of inertia that accompanies individuals within an organization that have become accustomed to the norms and socialization process within the organizations.

3.2. Other options for company management

The idea that changing an organization's culture is inevitable, universal and manageable is of some concern to those scholars who study organizational culture. Organizational change has become a large field of study. A core competency of organizational change can, should and must be managed. It is this competency that predicates the most often used organizational cultural management metaphor, unfreeze-change-refreeze. Pettigrew (1997) claims that research in the area of organizational culture is undergoing a change itself. There is a greater recognition of the important of context-actions connections, time, process, sequencing and the need to explore continuity as well as change. In summation, there is more of a pluralistic approach to changing an organization's culture that combines management and the social sciences. The second critique is that the change is to managerial, rigid and universal.
The main counter for this construct is that cultural change should be viewed in terms of ?translation?. The main goal with a ?translational? aspect is to transcend the conventional oppositions between such constructs as stability versus change. Conversely, change is seen as the result of intentions, random events and institutional factors (CZARNIAWSKA & JOERGES 1996). This approach represents a distinct break from traditional organizational cultural changes in that it emphasizes social construction and transcending dualism. The ?translational? approach can be compared, metaphysically, to a discourse analysis.
Another alternative approach to changing organizational culture is expressed in Marshak (2000) where linguistical modifications use words such as metamorphosis to describe those changes that are system wide. This linguistical approach leads to several different paradigm shifts including: (1) changing and continuing discourse;(2) change discourse; (3) discourse for change and finally (4) discourses about change.
3.3 The choice between changing of the organizational culture and the ?translational approach?
If an organization is going to change its culture it must decide if it will employ the traditional, universal approach or will it employ the more ?translational? aspect. The literature is quite clear as to the nature of each alternative. The traditional model assumes that an organization's culture can be changed from the top down in a vertical construct. However, the current state of organizational dynamics in today's environment render a more horizontal organizational structure. In order for culture to be not only changed but adopted there must be a willingness for all those involved within the organization to take part and assimilate to the new model. Current evolutionary events within organizational frameworks has lead to the advent of more ?discourse? being entered into between the organization as a whole and its individual members as to the best course of action for changing policies and therefore changing culture. The premise of this study is to analyze, from a quantitative aspect the degree to which this change is positive and how it can impact the productivity of the members and the overall organization.
3.4. Research hypotheses of the present study
The hypotheses that will be analyzed through the use of quantitative analysis will be ?Organization's must change their culture after certain points in order to increase the productivity of their institution and individual members?. This Hypothesis will integrate the cultural factors associated within the Russian Banking industry. Through the use of surveys and questionnaires an attitude among those who work in the industry will be ascertained in order to gauge the appropriate time for a bank or any financial institution to adopt different cultures or policies that can assist the institution in modifying its overall matrix and render it capable of adapting to the changing economic environments.

Chapter 4. The Model

4.1. Construction of the model
The model used in this analysis will be comprised of several distinct statistical tests used to examine the relationship between the data and the hypothesis. Prior to any statistical tests being implemented a ?Null Hypothesis? must be established. The ?Null Hypothesis? is defined, in statistics, that the relationship between the observed data and expected data is due to pure and random chance- this most likely comes when a p-value is greater than the predetermined level of alpha (usually either .05 or .01)[BROWN 1987]. Once the ?Null Hypothesis? is constructed, then a predetermined level for alpha must be selected, in many cases of this magnitude, alpha is generally set at .05. This indicates that if p is greater than .05, then the relationship between the data is based on chance. In other words, there would be a greater than 5% that the results ascertained by any of the foregoing statistical tests would be based on chance and therefore the relationship is not significant[WOODBURY 2001].
There are two statistical tests that will be employed and form the core of the model construct for this research. These tests are : (1) Chi-Square and (2) Student's T-test. These tests will employ different statistical calculations but their aim will be uniform, to attempt to recognize the relationship between the observed and expected data. In other words to measure the relationship between the attitudes of employees within Russian financial institutions as they relate to changes in the overall organizational culture. Each of these tests and their theoretical underpinnings will be presented below.
A Chi-Square test is a form of statistical analysis that attempts to determine if the data gathered in the study is representative of the overall population in terms of mean and standard deviation. This test is used for its ?goodness-of-fit? paradigm that flows logically when used with either the Linear Regression model or calculation of R-Squared. The formula for Chi-Square that will be used in this research is presented below.
The chi-square test is defined for the hypothesis:
H0: The data follow a specified distribution.
Ha: The data do not follow the specified distribution.
Test Statistic: For the chi-square goodness-of-fit computation, the data are divided into k bins and the test statistic is defined as

where is the observed frequency for bin i and is the expected frequency for bin i. The expected frequency is calculated by



This will be the rubric used to analyze the data and prepare the Chi-Square value. Once the Chi-Square raw calculations have been completed, they will be implemented into a Chi-Square 2x2 ?contingency table?. A ?contingency table? is used to measure the relationship between two or more different subsets of data, for example if the research wanted to compare the attitudes of employees within a bank from different age groups or genders to determine if these mulch-variates had any impact on attitudes toward cultural change, then a ?contingency table? would be used. This table is set up similar to the one presented below

The ?contingency table? used in this analysis will be a similar set-up however, it will be a 2x2. Once the ?contingency table? is constructed the following formula will be used to determine the critical region for the Chi-Square in order to arrive at the final conclusion as to the results of the analysis. The formula is presented below.
The test statistic follows, approximately, a chi-square distribution with (k - c) degrees of freedom where k is the number of non-empty cells and c = the number of estimated parameters (including location and scale parameters and shape parameters) for the distribution + 1. For example, for a 3-parameter Weibull distribution, c = 4.
Therefore, the hypothesis that the data are from a population with the specified distribution is rejected if

where is the chi-square percent point function with k - c degrees of freedom and a significance level of [DUEKER 1991].

The second statistical test will be the Student's T-Test. This test is used to compare the means of two different sample populations and will be useful in determining if any exigent factors within the sub-cultures of any organization studied within this research influences the outcome[GEMPERLINE 2006]. The t-test assumes that the observations within each group are normally distributed and the variances are equal in the two groups. It is not particularly sensitive to deviations from these assumptions, but if the data are very non-normal, the Mann-Whitney U-test can be used. Welch's t-test can be used if the variances are unequal. The formula for the T-test is presented as follows[WATT 1997].

Once the critical test-statistic is calculated it will be fed into a T-Test Table with predetermined Critical-T values for corresponding Degrees of Freedom [LEHMAN 2005].
The value for the Critical-T will be looked up using the chart. If the value of the Critical-T is greater than ?alpha? with the corresponding degrees of freedom then the results will be due to random chance and no relationship of any significance can be concluded.
4.2. Decision-making
Once the calculations have been ascertained it will be required that the conclusion as to whether the results are significant or not to determine a relationship between the data expected and the data collected throughout the course of this research exists. First, with regards to the T-Test, assuming that the T-Test will be single-tailed in that it will only be measuring the means of two groups, the predetermined level of alpha is .05, indicating a 5% chance the results are due to randomness. If the Critical-T is greater than .05, then there is no evidence to suggest that any statistically significant relationship between the multivariate data points exists, that is to say the ?Null Hypothesis? will be accepted. However, if the converse is true and the Critical-T value is less than alpha, then the ?Null Hypothesis? is rejected and there is a statistically significant relationship between the data[ELLIOT 2009].
Determining if the results are significant for the Chi-Square analysis follow the same path. The critical-test statistic or Chi will be calculated using the formulas previously described. If the level of Chi is higher than alpha or .05, then there is no relationship between the multivariate data points. However, if the level of Chi is less than alpha or .05, then this conclusively shows there is statistically significant relationship between the data points[COLDWICK 2008].

Chapter 5. Methodology

The present chapter provides detailed description of the structure of the research, justification of the chosen approach, discussion of qualitative and quantitative data and methodology used.

5.1. The main stages of the study

The main stages of this study include the use of survey data, questionnaires along with interviews and feedback. This will afford a variety of data to be collected from individuals within organizations that can provide first hand knowledge and information regarding the impact of changing organizational culture has on overall productivity and effectiveness.

5.2. Approach to data analysis

The data analysis will combine both Qualitative Analysis and Quantitative Analysis. The Qualitative will be ascertained through the use of the Surveys, Questionnaires and Interviews. The Quantitative methodologies will be the statistical tests designed for the overall model to incorporate the information provided through one, two or all of the Qualitative data analysis methodologies.

5.2.1. Survey

Surveys can be an effective and efficient method for collecting data in a Qualitative model. There are three Survey methods the researcher can employ. These three methods are the Personal Interview; Mail Survey and Telephone Survey. Each of these methods have their own unique advantages and disadvantages. For example the cost of doing personal interviews is high, compared to the relatively low cost of conducting surveys by mail or a telephone survey. Furthermore, the response rate for telephone surveys are high along with personal interviews, however the response rate for mail surveys are low given that individuals tend to disregard these surveys as ?junk mail?.
5.2.2. Questionnaire
The Questionnaire is another more popular form of Qualitative data gathering. However, there are numerous considerations that go into designing and effective questionnaire. First, it must be determined if the questions are going to be factually based, questions designed to elicit objective information from the respondents regarding their background, environments, habits, etc. These questions are useful in integrating demographic information into the data analysis.
Once the factual questions have been used, questions regarding beliefs, impressions, feelings and emotions can be integrated into the questionnaire. These are questions dealing with attitude and are the most important questions when doing qualitative social science research to gauge relationships among events. In addition to construction questions about attitudes, it is important to have the questions drafted in the correct format.
The researcher must determine if these questions are going to be ?closed-ended? or ?open-ended?. A closed-ended question allows respondents to select the answer that best and closely resembles their views regarding a specific issue. Open-ended questions are not followed by any kind of specific choice and the respondents answers are recorded in their entirety. In addition to the correct format of the question text, it must be determined if the answers to the questions will be presented in a rating format ranging from Strongly Agree to Strongly Disagree or will the questions be presented in a manner where the respondents can rank their answers, typically on a scale from 1 to 5.
5.2.3. Interviews and feedback
Interviews are a very effective way of ascertaining direct response data from participants in a study. There are, however, numerous and important considerations that must be accounted for. First, the respondents must feel that their interaction with the interviewer will be pleasant. It is up to the interviewers to make respondents feel that they will be understanding and easy to talk to. Second, the respondents need to see the study as being worthwhile. The respondents should feel not only that the study may benefit them personally but also that it deals with a significant issue and that their cooperation is important. Lastly, barriers to the interview in the respondents' minds need to be overcome. Interviewers must correct common misconceptions. Some respondents may be suspicious of the interviewers, seeing them as salespeople or as representatives of the government.

5.3. Potential limitations of the analysis and approach chosen
The survey method will be chosen for this research paradigm and there are several inherent limitations and biases present within this model. First, the wording of the questions on the survey may be worried in a manner that is to complicated for the respondent to understand. If this occurs it will invariably lead to a decline in the number of responses and therefore decrease the sample population. Second, the response set might not be completely filled out. This also, will reduce the data gathered and adversely impact the statistical modeling that requires extensive data input.
The questions on the Survey might be leading. If a question is drafted in a manner that could be construed as ?leading? then the respondent may assume that the researcher is expecting a certain or specific answer. If this occurs, the data will be flawed as an accurate representation of the participants attitudes and values was not attained. Furthermore, some respondents may find some questions threatening, if they address certain behaviors some respondents may find embarrassing and therefore difficult to answer. As a result, the respondent may deny certain behavior or under-report it thereby impacting the validity of the underlying data and lead to response bias.

Chapter 6. Data

The present study is using both qualitative and quantitative data to analyze the developments of the Russian banking sector, assess strategic options for company owners, and develop practical recommendations for owners/managers. Secondary data were used too including for illustration purposes.

6.1. Secondary data

The major sources of secondary data used in the present study were the Russian banks and foreign banks reports. Information from the analytical agencies and banks websites were also heavily used.

6.2. Primary data

Overall, four major steps were taken to collect primary data: survey, questionnaire, interviews with staff and experts feedback on the results of the analysis.

6.2.1. Survey

6.2.2. Questionnaire

6.2.3. Interviews and feedback

6.2.4. Testing the model

6.2.5. Feedback from practitioners

6.3. Data limitations

Inherent weaknesses of the survey method include the following considerations:

The usually acceptable rate of response (10%-20%) is not suitable for the present study due to limited number of companies relevant for the analysis.

The person actually filling out the questionnaire is probably not the one making strategic decisions.


Chapter 7. Analysis

In this chapter, the data obtained through the questionnaire will be analyzed to make recommendations for decision-makers within the Sberbank and the major Russian banks.

7.1. Russian banking sector: testing the model

7.1.1. Applying the Model

7.1.2. Post-changing the organizational culture performance analysis

7.1.3. Conclusions

7.2. Questionnaire Data Analysis

The data obtained from the questionnaire and other resources will be analyzed using software.

7.3. Using the model to determine the best strategy

The model will be used to develop strategic recommendations for the Sberbank and the major Russian banks.


Chapter 8. Conclusions and Recommendations

8.1. Feedback from banking sector experts

Draft conclusions that were based on the results of the analysis were presented to consultants to obtain feedback on the practical applications of these results.

8.2. Recommendations for managers

List of Tables and Figures

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