Sunday, 26 May 2013

How to make banking beautiful?

Looking at the big picture, somehow our society has to be brought together and not left to run in every different direction as is happening today. Arguably it is linked to a total misconception of individual freedom, loss of identity, lack of conscience and belief resulting in repeated conflicting interests at the top and misery at the bottom. In reality most ordinary honest well balanced professionals are aghast by what they see and experience daily not to mention the increasing difficulties seen in the workplace. Beneath the surface we hear the rumbling. A report by Gillian Guy was written on 20th May in the Daily Telegraph. ‘Redemption awaits Britain’s battered Banks.’
 
Time MCG knows that the banks are being pulled in all directions which must be very difficult for them and understandably so. Is there not a way out? We believe the Banking Sector has a golden opportunity to ‘make the wind instead of being bent by it’ and help us enter into a new era that Europe so desperately seeks.

What options do we have? In order to help breathe values, one would have to incorporate a belief. One idea would be to encourage the banks management to rattle their brains even further and make greater efforts in a renewed more tangible approach in their mission statement and purpose, thus concentrating on where the real need is and to transmit this meaning to their employees and even to their customers. This would have to be done in such a way that our different societies can grasp and understand. A real need is not about giving what people want or already have but more about filling a void that is beneficial to others. The question is therefore what is really missing in the global world?
 
HSBC came out with their first quarter profits for 2013. They mentioned they were focusing their efforts on where the high growth is in Asia.  Their purpose states: ‘Connecting customers to opportunities.' What does this mean?  Are we all opportunists!? Goldman’s Sachs as far as I am aware does not have a mission statement neither a tangible belief and neither does J.P Morgan. They only describe what they do and that part seems rather vague. In 2012 Goldmans made a net profit of USD 7.5 Billion. and J.P. Morgan USD 5.7 Billion. Without mission statements this would bring in genuine concern. We are still awaiting headlines from them both whether they are making efforts to change their culture from their past conduct. Rothschild’s are purely focused on wealth. In Time MCG’s ‘Barometer Effect’ we would have to classify these banks as still in the storm with limited efforts in changing their culture.
 
Quite frankly we all have a responsibility in this desperate world of ours and if it continues this way it will all end in tears. Is the solution then to print money and filter it through in order to enrich the investors and giving individuals the short term kick? Once, a leading CEO of a FMCG multinational mentioned to us that he was not at all concerned by the short term value of his stock but rather with the long term health of his company in providing customer care for the benefit of his employees.
 
Europe ought to be the ones that lead this change as we always have been the pioneers in re-inventing ourselves whereby the rest of the world can follow. All it takes is a little extra bottle from the top together with some plain common sense.  We came across another Banks mission statement in their offices. ‘Our mission is to make money work for positive social, environmental and cultural change.’ This is more like it! This small bank may set the precedent for immense possibilities ahead. This will also help solve Anthony Jenkins internal problems at Barclays by the flick of the eyebrow let alone everywhere else and the rest will follow. With all their ingenuity let’s return the beauty into banking to help bring a grieving Europe that does not have the stomach for another lost decade, into a new cultural era for the sake of our children. This way we can show the rest of the world what mettle we are made of.
 
‘By small accomplishments great things happen’

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