If you know about Financial System, you may already know the financial market. Either you can learn about the financial systems by clicking here.
Financial market; Yes, it is just another market. We know about the regular market, there are sellers and buyers along with goods or services. Sellers are trying to sell their goods or services on the other side buyers are trying to buy them.
Unlink those regular market financial markets represents where the financial assets or financial instruments are being traded.
Now let’s find it out what are the financial instruments or financial assets. The most common financial assets are; stocks, bonds, mutual funds, certificates of deposit, and so on.
The financial market can be classified into the following markets;
Capital Markets; consists of Debt market and Equity Markets.
2. Money Markets; refers to short-term funding. The market deals with short-term loans or deposits. Like as; call money ( Intra bank cash borrowing for short-term in many countries), Certificates of Deposit (CDs), Commercial Paper, Banker’s Acceptances, Repos, T-bills.
3. Futures Markets; Buy or sell contracts on a specific future date for commodities, currency, or securities.
4. Commodity Markets; Raw materials like oil are traded in this market.
If anyone knows about the comparative advantage* you can easily understand why global trade or international trade happens. However, anyone doesn’t have to understand comparative advantage just think like this; we are unable to produce or make all products, goods or offer services within in a same place or country. We have to rely on someone to make for us.
Supply and demand for any given commodities are also triggered international trade.
Bangladesh and India historically both benefited by specializing and trading according to their comparative advantages. Bangladesh has plentiful ready-made garments and clothing factories that can make the cheapest and great quality textile and textile fibers, while India is able to manufacture the cheapest automobiles parts and accessories. Each country would eventually recognize these facts and stop attempting to make the product that was more costly to generate domestically in favor of engaging in trade. Thus the comparative advantage occurs that turns to global trade.
From the beginning of this pandemic, I had the opportunity to have several self-development courses. I have done 3 consecutive courses from IBA, Dhaka University, 4 of them from Coursera, and 1 of them from an individual trainer from Bangladesh.
However today I will write about the hot topic called “Growth Hacking” a marketing term for business. Actually not only for the business it may equally important for the individual who wants to build their network to infinity.
I have learned about growth hacking at end of 2017 when I was reading a case study of Airbnb the largest hotel company that does not have any hotel at all! The blog was written by Andrew Chen titled; Growth Hacker is the new VP Marketing. Later on from my trainer about growth hacking and getting more and more interest in it.
You may know him because here in Bangladesh he is shining by his own works, showing the light of hope for youth. He always shows the path with the dream, hope for the youth and struggling entrepreneurs, and so on. I am about to talk about Munir Hasan Sir and his growth hacking email course. That means you will receive a couple of emails about growth hacking during this course and you may ask some questions to your classmates and as well as your instructor Munir sir.
To enroll in this course you may click on the above Bangla text. Now you might be thinking about why I should enroll in this course. Well, there are several reasons you may find on the internet or Facebook groups. But from my point of view following were the my analysis for your thinking;
You may new to this concept. Rather lost in misleading information you will have some uniform thoughts about Growth hacking?
Time! the precious assets. To save it you may enroll. Because the instructor made it as compact and as understandable for you, even for nonmarketers like me.
Storytelling! wow, I really love to hear stories as much I can from Munir sir. Because he has the capability to tell the story as enjoyable as you expect even its goes beyond your imagination.
Selection of right examples. For understanding growth hacking do not go for all examples you will have in google. You have to read and spend on the right ones which are more reasonable with our culture and country. That makes it easy for this course.
Learning about the new horizon. Even I was engaged in several marketing courses from reputed universities I still feel there might be new things for me to learn. And yes! Munir sir did fulfill my expectation by showing us a new horizon of marketing.
Resources, contents, and networking. During the course, you may have got the right resources for growth hacking and content and most importantly networking with your peers. That is the uncountable value you may have from this course.
There may others thousands of reasons in my mind but just right now I can point out those. Lastly, I can say if I had those training in early 2012 or 2013 I would have a better position in business right now. However, I am lucky that I got his companion and instruction. I am sure someday I would be reached my destination and tell him “Sir” you helped me to reach me here. Till then I wish all good for him and his activities.
Sir, keep open your shops forever so that we may visit those again and again, in failure or in success. Thank you Munir Sir.
The combination of management rules, process and laws by which businesses are operated, regulated or controlled is called corporate governance.
Corporate governance is like a compass through which a company may define the internal and external factors that affect the interest of any organization’s stakeholders; including owners or shareholders, board of directors or top management, customers or consumers, government regulators and trade unions.
The board of directors (top management for any other company) is responsible for creating the framework for corporate governance that best aligns business conduct with objectives. In depth its mission, vision and goal.
Action planning, performance measurement, disclosures for reconciling conflicts, executive compensation decisions, forecasting, disaster recovery planning, dividend policies, procedures for reconciling conflicts of interest, and explicit or implicit contracts between the company and its all stakeholders may be noted as some specific process that can be outlined in corporate governance.
When good corporate governance is performed, the company must follow a well structured working flow, enterprise adheres to accepted ethical standards and they ensure practice and formal laws.
Alternatively, bad corporate governance is seen as poorly-structured, ambiguous and noncompliant, which could damage the image or financial health of a business.
Corporate governance and its common principles;
When we found most of corporate governance structure is difference and unique but still most organizations adapt the following key elements:
All shareholders should be treated equally and fairly. This also means that shareholders are aware of their rights and how to exercise them.
Legal, contractual and social obligations to non-shareholder stakeholders must be upheld. This includes always communicating and sharing pertinent information to employees, investors, vendors and members of the community.
Must maintain a commitment to ensure accountability, fairness, diversity and transparency within corporate governance. Board members must also possess the adequate skills necessary to review management practices.
Organizations should define a code of conduct for board members and executives, only appointing new individuals if they meet that standard.
All corporate governance policies and procedures should be transparent or disclosed to relevant stakeholders.
Ensure business success and growth by choosing the right strategy.
One of the most common conflicts that corporate governance is facing is the agency problem. The agency problem is a conflict of interest that occurs when agents do not fully represent the best interests of principals or shareholders or owners. Principals hire agents to represent their interests and act on their behalf. [In the business world, this relationship is represented by a company’s management team and the corporation’s shareholders. In other cases, the agent is the head of an investment firm while investors are the principals.
Conflicts could occur when executives disagree with shareholders. For example, the shareholders will typically want to solely pursue interests that generate profit while the chief executive officer might want to invest in better employee engagement efforts.
Another type of conflict could arise if multiple shareholders disagree with each other. It would be the role of corporate governance to define how these matters are settled.
Regulation of corporate governance:
Corporate governance has received increased attention because of high-profile scandals involving abuse of corporate power or alleged criminal activity by corporate officers. Therefore, laws and regulations have been passed to address the components of corporate governance. But only few can be found here in Bangladesh. However the following act or regulation is commonly found here in Bangladesh.
Basel II: This is a business standard that minimizes the financial effect of risky operational decisions. The rights of shareholders are covered under this standard, thus affecting corporate governance.
Enron and WorldCom; Example of misuse of corporate governance:
Public and government concern about corporate governance tends to wax and wane. Often, however, highly publicized revelations of corporate malfeasance revive interest in the subject. For example, corporate governance became a pressing issue in the United States at the turn of the 21st century, after fraudulent practices bankrupted high-profile companies such as Enron and WorldCom.
The problem with Enron was that its board of directors waived many rules related to conflicts of interest by allowing the chief financial officer (CFO), Andrew Fastow, to create independent, private partnerships to do business with Enron. What actually happened was that these private partnerships were used to hide Enron’s debts and liabilities, which would have reduced the company’s profits significantly.
What happened at Enron was clearly a lack of corporate governance that should have prevented the creation of these entities that hid the losses. The company also had a corporate atmosphere that had dishonest people at the top (Fastow) down to its traders who made illegal moves in the markets.
Both the Enron and Worldcom scandals resulted in the 2002 passage of the Sarbanes-Oxley Act, which imposed more stringent recordkeeping requirements on companies, along with stiff criminal penalties for violating them and other securities laws. The aim was to restore public confidence in public companies and how they operate.
When non-marketer like me first listen to digital marketing, I thought it may be the new kind of marketing principles that we did not study yet or do not know yet. If you find similarities do not feel down like me. This was not our wrongdoing that we were thinking so that digital marketing is a new kind of marketing principle.
We can find tons of content, guideline, and rules of digital marketing which is created by non-marketer like you and me. And they all try to teach us “A street beggar should ask help by ridding an Elephant“
Well, it may certainly be workable on certain conditions but this will not fit for all. To choose the right guideline or content to follow we should learn at least basic marketing principles, differentiate tools, media, and channels of marketing.
Before starting those let’s take a look at the following words as per marketing principles;
Market - A set of actual people, potential buyer and seller
Market Place – A physical market, like a shopping mall.
