Bank Negara Malaya – Managing Business
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Table of ContentsIntroduction Types of Management Elements Practiced in Bank Negara Planning Organizing Leading Controlling Social rensponsibility Conclusion IntroductionBank Negara Tanah Melayu / Bank Negara Malaya was established on 26 January 1959.One of its main responsibilities is to supervise all activities of commercial bank in Malaysia through the Banking Ordinance 1958 which was superseded by Banking Act 1973.Bank Negara Malaysia is governed by the Central Bank of Malaysia Act 2009.The main purpose of this bank is to issues currency, acts as banker and adviser to the government of Malaysia and regulate the country’s financial instituations,credit system and monetary policy. With the formation of Malaysia on 16th September 1963,Bank Negara Tanah Melayu come to be known as Bank Negara Malaysia (BNM) or Central Bank of Malaysia. Its headquarters is located in Kuala Lumpur,the federal capital of Malaysia.Bank Negara Malaysia’s monetary policy stance is to maintain price stability while remaining supportive of growth. Bank Negara also responsible for financial stability. This is achieved by developing a sound, resilent, progressive and diversified financial sector which serves to support the sectors of the real company. It also plays important functions in implementing initiatives to deepen and strengthen the financial markets, including the foreign exchange market. Types of Management Elements Practiced in Bank Negara PlanningPlanning can be defined as the process of setting goals, developing strategies, and outlining tasks and schedules to accomplish the goals. There are some terms that can used under planning. First is mission. Mission can reflect the philosophy and purpose of the organization as defined by top management. It also can be define as tends to deal with an organization’s present business scope and operations “who we are and what we do”. The other term is strategy. Strategy is a plan that use in order to achieve organization goals.Besides, each organization also has an objectives. Objectives mean organization goal that you are trying to achieve.As I can see, from my research, Bank Negara also have their mission, strategy and objectives. The mission of Bank Negara Malaysia, as the Central Bank, is committed to excellence in promoting monetary and financial system stability and fostering a sound and progressive financial sector, to achieved sustained economic growth for the benefit of nation.There are some strategies that use by Bank Negara Malaysia in other to achieved a mission. Firstly is promoting a work culture which emphasizes the highest standard of professionalism and integrity, prudence, teamwork and innovation. Another strategy is developing and maintaining a committed workforce which is highly competent and proactive, sensitive to the changing needs of the industry.Next, adopting a collaborative approach in everything we do. Bank Negara also, promoting the effective use of technology and good work practices to enhance productivity, efficiency and quality. They also adopting policies and practices to enhance the competitiveness of local financial institutions to face international competition.Besides, having the necessary financial resources and financial instruments to effectively manage monetary stability.
From my research, I also found their qbjectives.First objectives is issues currency and keep reserves safe guarding the values of the currency. They also act as a banker and financial adviser to the Government.Besides, promote monetary stability and a sound financial structure. Next is promote the reliable, efficient and smooth operation of national payment and settlement systems. They also want to ensure that the national payment and settlement systems policy is directed to the advantage of Malaysia and Influence the credit situation to the advantage of the country. OrganizingOrganizing is defined as arranging and structuring work to accomplish the goals.From my research,below is organizing structure in Bank Negara Malaysia[pic 1][pic 2][pic 3][pic 4][pic 5][pic 6][pic 7][pic 8][pic 9][pic 10][pic 11][pic 12][pic 13][pic 14][pic 15]MOHA[pic 16][pic 17][pic 18][pic 19][pic 20][pic 21][pic 22][pic 23][pic 24][pic 25][pic 26][pic 27][pic 28][pic 29][pic 30][pic 31][pic 32][pic 33][pic 34][pic 35][pic 36][pic 37][pic 38][pic 39] [pic 40][pic 41][pic 42][pic 43][pic 44][pic 45][pic 46][pic 47][pic 48][pic 49][pic 50][pic 51][pic 52][pic 53][pic 54][pic 55][pic 56][pic 57][pic 58][pic 59][pic 60][pic 61][pic 62][pic 63][pic 64][pic 65][pic 66][pic 67][pic 68][pic 69][pic 70][pic 71][pic 72][pic 73][pic 74][pic 75][pic 76][pic 77][pic 78][pic 79][pic 80][pic 81][pic 82][pic 83][pic 84][pic 85][pic 86][pic 88][pic 89][pic 87][pic 90][pic 91][pic 92][pic 93][pic 94][pic 95][pic 96][pic 97][pic 98][pic 99][pic 100][pic 101][pic 102][pic 103][pic 104][pic 105][pic 106][pic 107][pic 108]