Building Societies An Integral Part Of Uk Financial...

Building societies are an integral part of UK financial services, offering mortgages and savings as their main products. The name ‘building society’ stems back to the late 1700s when the first society was formed. Small groups of people pooled their savings to buy land and build houses. The building societies are the greatest direct competitors to banks for personal customers. The Building Societies Association (BSA) is the trade association that represents all of the UK’s 52 building societies. A building society is a mutual organisation, which means it is collectively owned by its members. This means that members have the right to receive information, speak at meetings and vote at an annual general meeting (AGM) – in other words, they have a say in how the society operates. Every member has one vote. Each building society has a board of directors, who run the society on behalf of the members. Anyone who has a savings account or a mortgage with a building society is a member. Members deposit money into their accounts as savings and the society then uses a proportion of this money to offer mortgages to other members. Banks are limited companies. They are listed on the Stock Exchange and owned by shareholders. The banks’ shareholders expect to receive dividends, which are shares of the profits made. Banks therefore try to maximise their profits in the interests of their shareholders. Building societies operate in a very different way from banks. Since building societies doShow MoreRelatedThe Purpose Of A National Cybersecurity Strategy1421 Words   |  6 Pagesthis recent past, the e-services, new technologies, and interconnected networks have become integral part of our daily life. Society, businesses, government and national defense depend entirely on the well-functioning of information technology and information infrastructures, communication, transportation, e-commerce, emergency services and financial services depend on the integrity, availability and confidentiality of information streaming these infrastructures. As our society become more reliableRead MoreThe Internet And Its Effect s On The Environment1538 Words   |  7 Pagesexchange ideas, services, or friendship. The development of technology and information systems has brought numerous advantages in various sectors of life including government, industry, banking, commerce, and so on. Consequently, there is a growing dependency on the utilization of the information technology. Canada along with the other developed countries has increasingly relying on internet services and information systems for multiple purposes. In other words, the internet has become a part of the day-to-dayRead MoreCorporate Governance Around the World: a Comparison of the Us, Uk and Other European Models1193 Words   |  5 Pageslong term success: Avoid: ïÆ' ¼ Corporate Fraud (eg. Longtop) ïÆ' ¼ Accounting Scandal (eg. Enron) ïÆ' ¼ Excessive compensation (eg. CEO Bonus) Gain: ïÆ' ¼ Premium on market price ïÆ' ¼ Sustainable growth ïÆ' ¼ Investors’ trust and shareholder value While building a corporate governance system the assumption is reigning that the separation of owner and management creates an agency problem that needs to be solved. Corporate Governance in the U.S. The US model of cCorporate gGovernance, also referred toRead MoreEssay on Corporate Social Responsibility CSR1353 Words   |  6 Pagesand public expectations that society has of business. Objectives often associated with CSR include a responsibility to manage natural assets sustainably and not to pollute by chemical discharge, smell, noise, dust or other irritants; fair treatment of employees and ethical attitude towards clients. The other people include employees, customers, suppliers, regulators and the public at large. In terms of CSR, management should make decisions based not only on financial factors such as profits or dividendsRead MoreEssay on Understanding Organisations and the Role of Human Resources1903 Words   |  8 Pagesindependent Recruitment Agency that provides a service to various customers / clients in terms of permanent and temporary staff placements. It was founded by Hilary Roberts (The ‘HR’ in ‘HR Consultancy’) in 1996 and currentl y employs 40 staff across our Edinburgh and Glasgow offices. A financial services professional, Hilary had identified a need for a reliable and informed recruitment consultancy to provide high quality candidates to the financial services and contact centre markets throughout centralRead MoreResearch Proposal : Online Store for Primark1519 Words   |  7 PagesAlthough the Internet burst between 2000 and 2002 which slowed down the rage in the financial market, however the Internet infrastructure continues to grow. It has now become an integral part of the market strategic portfolio for many organizations. In this internet niche, to be and remain successful many retailers engage in business model reengineering to keep up with changes in how customers acquire goods and services. One of the customers approach these days is online shopping. Ward (2001) stronglyRead MoreResearch Proposal : Online Store for Primark1511 Words   |  7 PagesAlthough the Internet burst between 2000 and 200 2 which slowed down the rage in the financial market, however the Internet infrastructure continues to grow. It has now become an integral part of the market strategic portfolio for many organizations. In this internet niche, to be and remain successful many retailers engage in business model reengineering to keep up with changes in how customers acquire goods and services. One of the customers approach these days is online shopping. Ward (2001) stronglyRead MoreSports as a Tool of Integration1725 Words   |  7 Pagesprocess of combining two or more things so that they work together (=of integrating them) . Internet shows â€Å"Integration† (from the Latin integer, meaning whole or entire) generally means combining parts so that they work together or form a whole. * It is an act or instance of combining into an integral whole. * It is an act or instance of integrating a racial, religious, or ethnic group. * It is an act or instance of integrating an organization, place of business, school, etc. SPORTS asRead MoreAn International Financial Services Group6096 Words   |  25 PagesAbout Prudential Prudential PLC is an international financial services group with significant operations in Asia, the US and the UK. They serve around 24 million insurance customers and have  £496 billion of assets under management. Prudential was founded in London in 1848 on the principles of integrity, security and prudence, and they still adhere to those principles today. The Prudential Group is divided into four business units, each of which has a clearly defined set of objectives within itsRead MoreOperations Management in Tesco5444 Words   |  22 Pagesstrategies it used to manage finance at the company. The second part of the assignment will concentrate of the human resource management practices adopted by Tesco and the finance part of the assignment will be concerning the information system strategy at Tesco. Table of Contents Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..4 PART A: Managing Finance†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..4 PART B: Managing People†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.8 PART C: Managing Information†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..13 References†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦16