Chapter-1 (Vastmedia bank)

CHAPTER NO 1

INTRODUCTION

Chapter Objectives

    To understand the background, purpose and the scope of the report.

    To study the methodological tools used in the report.

    Make recommendation in light of the analysis.

    Dive summary regarding the overall position of the organization.

Followed the reference by bibliography;

1.1      BACK GROUND OF THE STUDY

Institute of management studies require its student of business administration to undergo an eight week’s internship program in a reputed organization. This practical experience is then documented by the students in the form of an “Research report” based on theoretical and practical learning of the internee. Report submission is an integral part in the fulfillment of degree requirement for M. Phil _(Management) a report encompasses the experience of the internee, his learning, and analysis in the light of which the recommendation are made. The report is then submitted to department of management sciences. To fulfill this academic requirement and being a student of finance, I did my internship in vastmedia bank, The vastmedia bank limited Main Branch, Pakistan.

 registered as Australasia bank limited in 1942 at Lahore has witness and experience various political, economic, financial and technological upheavals which have taken place in the south Asian region. With the passage of time, the bank has made a significant progress despite the challenging business environment. 

1.2      PURPOSE OF THE STUDY

This study is a prerequisite for the completion of the master of Philosophy course at the Jobsntalent university Pakistan N.W.F.P .The other purpose to conduct this study includes:

                                           i.            Gathering the relative information about VM.

                                         ii.            To observe, analyze interpret the relevant data.

                                      iii.            To work practically in an organization.

                                      iv.            To develop interpersonal communication.

                                         v.            To recommendation remedies for the problems.

1.3      SCOPE OF THE STUDY

Internship at VM was an excellent chance to understand how a bank operates. The main focus of my research study was on the general banking procedures in one of the branch of VM. These operations include remittances, deposits advance which are the specialized banking departments. Similarly different aspects of overall situation of VM are also covered in this report.

1.4      UTILITY

Utility of this report that is:

                                           i.            The bank can utilize the recommendations given in the report and can benefit from the implementation presented in the last chapter.

                                         ii.            The student can benefit from reading this report.

                                      iii.            Any common people who come across this report can also benefit from it.

1.4.1          Limitation Of The Study

The span of the operation of vastmedia bank limited is too large to be covered completely in eight weeks. Time constrain, thus, constitutes a major constrain for this report.

1.5      RESEARCH METHODOLOGY

This report tells something about how the eight weeks were spending as an internee in vastmedia bank. The methodology of the report for collection of data is primary as well as secondary. The biggest source of information is my personal observation while working with the staff and having discussion with them. Formally arranged interviews and discussion also helped me in this regard.

1.5.1    Primary Data

The source for primary data collection is as follows:

                                           i.            Personal observation is focus on the manager and bank staff operational behavior & their determination with work.

                                         ii.            Discussion with officers is the best way to understand bank operation.

1.5.2          Secondary Data

The sources for secondary data are as follows:

                                           i.            VM’s branch operational manuals.

                                         ii.            Business related book for example human recourses management by David A. Cenzo.

                                      iii.            VM’S own half yearly magazine.

                                      iv.            Annual reports of VM 2005.

                                         v.            VM operational material.

1.6         SCHEME OF THE REPORT

The scheme of report is as follow:

Chapter 1 includes background, purpose, scope and methodology of report.

Chapter 2 consists of definition of banking, origin of banking, history of banking, developing of banking and briefly history of VM.

Chapter 3 describe of objective of VM, the VM’s value, vision, philosophy and organizational structure of VM

Chapter 4    describes the function of VM.

  

Chapter 5 includes the Human Recourse Management and Computerization of VM.

Chapter 6 consists of Cash Management of VM.

Chapter 7 describe the analysis of VM i.e. trend analysis, general analysis &TOWS analysis.

Chapter 8 composed of Finding, recommendation and action plan.

Summary

The report gives a review of Vastmedia Bank of Pakistan Limited. It gives its history as well as the organizational structure and operation. The department is discussed in the light of VM Main Branch Pakistan . We also discussed the history of bank in the second chapter.