Multi-national Business ManagementCitigroup POST- WTO In ChinaTeam 9Develop the strategy plan for Citigroup in Post- WTO China*Logic flow in this citigroup caseDecision MakingAnalysisSituationStrategyAction PlanSo What?So What?So how?Part 1. IntroductionPart 2. SituationPart 3. AnalysisPart 4. Action PlanPart 5. ConclusionContentsCitigroup China12345Corporate FinanceInvestment BankingInsuranceConsumer Finance123451-1 Who is citigroup?Citigroup, the preeminent global financial services company, provides some 120 million consumers, corporation, government and institutions in more than 100 countries with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance and securities brokerage.Global NetworkTime and ExperienceTechnological SuperiorityAccounting PracticeGlobal Consumer FinanceMarketing the ExperienceLocalization CommitmentGlobal Relationship BankingHuman Resource Practices1-2 Citigroup's Core competency1234 years,allow to provide RMB services for all Chinese enterprises and individuals in all regions Financial Advisory Business: -Wholly opened up upon WTO entry2-2 China's commitment to WTOBanking sectorLife Insurance sector123452-3 Future opportunities upon regulation changesConsumer FinanceInsuranceInvestment BankingCorporate FinanceWill benefit wealth managementShift from planned economy to free enterprisePositive for credit card businessWorry about inflation(discouraging borrowing)Low level of restrictionRestrictions on the ownership in insurance businessEasier to conduct e-businessSupervision on Internet contentBetter infrastructure will benefit e-commerceRestrictions on foreign technologies companiesMore opportunitiesPolitical reformAllow business in other citiesRestrictions on renminbi business and geographic restrictions12345BETTER !!NO CHANGE !!BETTER !!MUCH BETTER !!Action PlanP.E.S.T S.W.O.T* Key IssuesKey Issue #14 divisions to be considered to enter China; corporate banking, ompanyLimited mainland networks No close tie with Chinese clients High capital cost in RMB Unfamiliar with the market3-2 S.W.O.T Analysis #2 – Investment Banking Services12345ThreatOpportunityWeaknessStrengthLeading global underwriter in combined equity and debt Leading global investment firm as measured by revenue No.1 global fixed-income underwriter Services through CGI and citistreetAt an early stage of China's stock market Bought deal risk Fragmented stock marketMust establish investment banking and commercial banking separately Unfamiliar with market, law and regulationsPrivatization of SOEs Various services to privatized SOEs Particularly difficult valuation of shares3-2 S.W.O.T Analysis #3 – Insurance, pension, and annuity products12345ThreatOpportunityWeaknessStrengthServices through TL A Specialized in life insurance and annuityAlready over 90 foreign insurance companies Restriction on foreign ownership Slow in opening of insurance marketHigh increase rate in insurance premium From Citibank China (20)10101520Global Network (20)Citigroup's Competency (100)80608070Total10101510Synergy Effect (15)2051010Competition Intensity (20)30252020Growth Potential (30)20203530Regulatory Restriction (35)Attractiveness (100)Consumer FinanceInsuranceInvestment bankingCorporate banking12345Attractiveness100100Consumer FinanceInvestment Banking50Citigroup's competency123457575Corporate finance3-4 Evaluation with criteriaArea #1 -Less regulations in the market -Strong competence of Citigroup itselfArea #2 More regulations in the market Relatively low competenceInsurancePart 1. IntroductionPart 2. SituationPart 3. AnalysisPart 4. Action PlanPart 5. ConclusionContents12345Available forms of financial business Detailed action plans for each option100% ownershipMore than 25% ownershipLess than 25% ownershipNot an independent legal entityNon-operational organizationCharacteristicsWholly OwnedJoint VentureEquity ParticipationBranchRepresentative OfficeMost risky, Most regulationDevee whole eastern costal areas4-3 Action plan #3 – Insurance Division12345-Conduct regional market research -Develop relationship with key Chinese officials and industry contractsBusiness- Beijing, Shanghai, GuangzhouRegionObjectivePreliminary research and preparation for future entry1. Entry form: Representative offices of TL A2. Concentration:1.Entry Form: Equity participation in a Chinese commercial bank123454-3 Action plan #4 – Consumer Finance Division2. Concentration:Credit card: International credit card WM: Portfolio management and investment advisory services on assets E-banking: Future “one-stop financial shop”BusinessCredit card: Wealthy Individuals who go abroad for a travel WM: High-net-worth Individuals E-banking: Young local managers in foreign-owned corporationsClientThe whole eastern costal areasRegionExpansion-Gain experience and build up customer base for future extensive domestic retail financial business Gradually increase the ownership until acquisition of the partn}
The day started out rather ordinarily. First, we had breakfast, and then we busily prepared for our final trip in Kenya. Fastening our cameras and backpacks tightly, we marched into the safari van like soldiers marching into the Vietnam War. Spotting a National Geographic van right in front of us, my heart started to pound loudly. What if animals broke through the car window? Thoughts that bent the very fabric of reality started to circle inside my head. When we arrived, however, the fresh smell of morning air gently calmed my thoughts. Looking outside the window, I froze tightly in my seat. My eyes were glued to the spectacular scene of Kenya National Park, remote and captivating in its grandness, and it took me a minute to realize that I had forgotten to take my breath. Kenya's oldest animal sanctuary, a glorious stretch of savannah set against the dramatic skyline of the city, lay right before my eyes, and I could not agree more with what National Geographic had said about the park. It was indeed a feast for the senses.
Steven Song2000-10400 Political ScienceFINAL DRAFTThe Secret GardenI remember once seeing a movie called ‘The Secret Garden,’ where little children accidentally find the entrance to an old abandoned garden. Inside the secret garden lay wonders beyond imagination, and the children learn to keep their dreams and purity through the comfort of nature. I was very young when I saw the movie, and I kept wishing about finding a secret garden of my own, where I would hide my treasures and keep it a secret, all the way to my grave. It took a long time for me to realize that my first garden, when I moved to Libya, contained such secrets and wonders that even the children in the movie would be envious.My house was located inside the Daewoo Construction camp, since my father worked for the company. The camp was shaped like a half-cut donut, and my house was at the opposite end of the entrance. When I first moved to my house, the sight of my garden left me breathless. My house itself was simple, a one-story building shaped like a triangle. The simple, white painted walls, along with the red painted roof, gave a pleasant feeling to the watchers. However, the garden surrounding it, a huge, square piece of land full of well-trimmed grass and evergreen trees, was something much more than pleasant. Strolling among the trees gave a sense of peace, and life seemed both pleasant and wonderful.The garden boundary was a square made by simple white fences, and except for the side where the main entrance lay, the rest of the sides were covered with human-size trees. Entering from the main gate, a small path paved with pebbles guided the guest straight to the house entrance. Instead of going straight to the house entrance, one could stray left, and feel the gentle breeze that always stayed in my garden, carrying with it the smell of fresh grass and trees. The scent of perfume could be found when walking near the shy flowers that gently showed their true beauty while playing with the grass and trees. In other words, my garden really licked the garden I had seen in the movie, ‘The Secret Garden’Although it was no secret that my house had a garden, there was a lot more to it, hidden to other people’s eyes. First, there was the hedgehog family. They usually dwelled at the corner of the garden, and laughed at my attempts to capture them, hiding into the ground. We became fast friends, however, and every now and then one of them would pop out of the ground to say hello. Our dog was not very happy with this, however, but he soon gave up and joined the family after I had to remove several quills from his nose. Next, there was the bird show, taking place at the abandoned birdcage behind our house. The abandoned birdcage was a red, rusty birdcage without a door – it was obviously broken – and birds, but sometimes our guests would fly into the cage and perform a symphony just for me. They weren’t used to receiving applauses, however, since they flew away whenever I clapped.My secret garden in Libya was a special place to me, with such wonderful memories and secrets that probably helped me retain my pure heart and imagination when I was a kid. Even now, just imagining the events that happened in my garden brings me back to the time I lived in Libya, and I could almost feel the touch of the cool, soft grass.
Movie fans at the year of 1994 will remember the 7 Academy Award nominated movie, “The Shawshank Redemption,” starring Tim Robins. In the film, Tim Robins is Andy Dufresne, the vice-president of a large Portland bank, who is sent to prison on the charge of murdering his wife. Of course, Andy is not the man to commit such a crime, but he is found guilty and is sent to the Shawshank Prison.