FACTORS AFFECTING RETAIL INDUSTRYAccording to the U.S. Department of Labor Statistics, the retail industry is the country's largest source of employment, providing 15.3 million jobs. Additionally, the actual output of retail growth is projected to increase to $1.8 trillion in 2014. The retail industry thus plays an indispensable role in boosting the economy through revenue generation. But this role can only be sustained if the retail industry remains profitable in the long run. The growth and profitability of the retail industry is influenced by factors that have long existed as well as some that are emerging.

Consumer Spending

The force behind the retail industry is domestic consumption of essential goods such as food, clothing, and electronic gadgets. Consumer spending on these goods primarily determines how profitable a retail outlet is and if this profitability translates to growth. According to Price Waterhouse Cooper's 14th Annual Global CEO survey, 62 percent of the interviewed chief executive officers believe that changes in consumer spending pose a serious risk in the growth of the retail industry. Low consumer spending as a result of unemployment, wage restraint or inflation lowers the profitability and subsequent growth of the retail industry.

Economic Performance

The global economic recession which began in 2008 significantly affected the profitability of the retail sector. Economic performance influences other factors such as consumer spending and access to credit, which are essential to the growth of retail businesses. Low sales usually result in a decline in profitability, which also slows down growth in the sector. The contrary is true. A good overall economic outlook facilitates profitability and growth in the retail sector.

Technological Changes

The retail industry is a very competitive and fast-moving industry. This is largely influenced by consumer trends and demands for fast and prompt services. Changes in the technological sector have affected the way the retail industry does businesses. These changes include e-commerce, smart phone transactions and in-store Wi-Fi. These technological trends enable customers to access retail goods and services faster. Retailers have to keep up with these trends and develop high-tech innovations to reach their customers. The ability to tap into these customers and technological trends means growth and possibly profits for the retail industry.

Move to Sustainability

A move to sustainability in terms of carbon management is an emerging trend for businesses, including the retail industry. Customers are becoming more conscious about the origin, content and manufacturing procedures of the goods they purchase from retail outlets. "Going green" trends demand that the retail industry implement internal measures of greening their businesses. Implementing green measures requires retailers to use up more resources, which can eat into profits. On the other hand, a move to sustainability by retailers can provide an opportunity for growth and diversification into new "green" goods and services.

Social Factors Affecting Retail BusinessSocial factors that affect the retail business come in a broad range of categories. Most importantly, there are key factors that retailers must make themselves aware of when trying to decide where to locate their businesses. These categories are typically part of an economic survey of the area that a retailer is considering.

Retailing Based on Age Range

The age range of buyers helps retailers determine what kinds of products and services they should offer. Based on the age of buyers, retailers can decide and control what kind and how much inventory they order for their outlets. This will also help them determine how to market, promote and display their products in ways that are most appealing to their target audience. Studying what each age range buys will keep retailers on the cutting edge.

Retailing Based on Family Size

This category is a key indicator of the kind of pricing retailers should carry on their products and services. Typically, the more in the family, the more prone the consumer is to seek out cost-effective pricing. Because there are more individuals to provide for in their households, it makes sense for them to be budget-conscious in all of their purchases. Smaller households may be more prone to splurge on higher-end products.

Retailing Based on Income

Consumer income drives the retail business considerably, as well as the U.S. economy. The more income consumers have, the better they feel about the economy, the more money they spend. Consumer spending rose 0.5 percent in the retail sector in 2011, according to a statement from the U.S. Commerce

Secretary Gary Locke. Consumer income will impact how much ability the retailer has to thrive in today's competitive market.

Retailing Based on Buying Habits

The buying habits of consumers are a quirky thing. One day they like the product, then something new comes along and the old product is abandoned. As a result, it is extremely important that retailers stay on top of their games when it comes to keeping the most trendy, reasonably priced products on their shelves. For example, after the advent of the iPad, multiple variations of the same type of product were released.

Factors Affecting Gross Profit in RetailA business' gross profit is the money collected for goods and services minus the cost to the business to produce the goods or services. It is a fairly simple concept, but a very important one. Retail is all about the bottom line, and how healthy the bottom line is begins with the gross profit of the business. Business owners and managers price products according to how much value they believe will be perceived by the consumer and their desired profit margin. There are some basic factors that directly affect the profit margin and the overall profitability of a retail business.

COGS

COGS is the industry standard abbreviation for "cost of goods sold." A company's COGS is determined by adding up all the money spent to buy and ship the needed materials to produce the retail product. This may simply be the money spent on wholesale products that are put on the shelf and sold as is, or it could mean the amount of money spent on various products that are combined to create a new product to sell.

A company's COGS directly affects the gross profit since this money used to produce the retail items is ultimately deducted from the money taken in from sales. Therefore, it is important for a business to shop around for the best deal on wholesale products in order to reduce the COGS and make more profit. In businesses that do a high volume of sales, even a small savings on some items or cheaper shipping methods can add up to a considerably higher gross profit in the long run.

Markup

Markup is the amount above the cost of goods that the business sells its products or services for. It is not uncommon for some retail outlets to charge three times the cost of goods to its customers. This considerable markup may

sound like a lot, but the markup must not only cover the goods themselves, but all of the costs associated with the business. Employees must be paid, a building must be rented and maintained, etc.

Markup directly affects gross profit because the higher the markup, the more gross profit there is. However, setting a price too high will actually reduce gross profit when consumers decide the product isn't a good value and refuse to buy. When this happens the cost of goods remains the same, but the money taken in from sales is reduced. On the flip side, a price too low may result in more sales, but the amount of gross profit may be too low to operate the business adequately.

Stock Levels

Maintaining sensible stock levels can indirectly affect gross profit in many businesses. If a company stocks too much of a product, selling just a small percentage of the total purchased in a given time period, the cost of goods may outweigh the total sales.

On the other hand, ordering too few of an item could mean that you reduced cost of goods, but missed out on sales that could have been made. This too will reduce the gross profit, even though less money was spent up front.

The ideal situation is to develop a re-ordering schedule that will have just the right amount of items arriving just in time for sale. This is a delicate balance that may take practice.

There are three key issues impacting the retail industry this year.

1. The average consumer is being squeezed. As the consumer's cost of energy, housing, and food continue to climb, their incomes are not rising. Luxury items are being deferred or eliminated from most household budgets, and economy items are being purchased wherever possible.

2. The average retail store offers goods that can be acquired via the internet, and delivered to the consumer, at a lower price than the average store can offer. The internet sources eliminate at least one middleman and the associated markup. Meanwhile the brick and mortar retail store pays higher payroll taxes, utilities, insurance, and other fixed costs.

3. The average retail store is quickly finding it hard to keep their lines of credit open. As a result of the credit

and mortgage situation, many lenders are finding that they have insufficient cash to meet their own cash flow requirements, and thus are reducing their lending and closing existing lines of credit. Where available, credit is even more expensive for retail operations.

Social impact and controversy with retail reforms

The November 2011 retail reforms in India have sparked intense activism, both in opposition and in support of the reforms.

Controversy over Indian retail reforms

A horticultural produce retail market in Kolkata, India; produce loss in these retail formats is very high for perishables

Critics of the Indian retail reforms announcement are making one or more of the following points:,[46][47]

Independent stores will close, leading to massive job losses. Walmart employs very few people in the United States. If allowed to expand in India as much as Walmart has expanded in the United States, few thousand jobs may be created but millions will be lost.

Walmart will lower prices to dump goods, get competition out of the way, become a monopoly, then raise prices. We have seen this in the case of the soft drinks industry. Pepsi and Coke came in and wiped out all the domestic brands.

India doesn't need foreign retailers, since homegrown companies and traditional markets may be able to do the job.

Work will be done by Indians, profits will go to foreigners. Remember East India Company. It entered India as a trader and then took over politically. There will be sterile homogeneity and Indian cities will look like cities anywhere else. The government hasn't built consensus.

Supporters claim none of these objections has merit. They claim:[47]

Organized retail will need workers. Walmart employs 1.4 million people in United States alone.[48] With United States population of about 300 million, and India's population of about 1200 million, if Walmart-like retail companies were to expand in India as much as their presence in the United States, and the staffing level in Indian stores kept at the same level as in the United States stores, Walmart alone would employ 5.6 million Indian citizens. Walmart has a 6.5% market share of the total United States retail. Adjusted for this market share, the expected jobs in future Indian organized retail would total over 85 million. In addition, millions of additional jobs will be created during the building of and the maintenance of retail stores, roads, cold storage centers, software industry, electronic cash registers and other retail supporting organizations. Instead of job losses, retail reforms are likely to be massive boost to Indian job availability.

KPMG - one of the world's largest audit companies - finds that in China, the employment in both retail and wholesale trade increased from 4% in 1992 to about 7% in 2001, post China opening

its retail to foreign and domestic innovation and competition. In absolute terms, China experienced the creation of 26 million new jobs within 9 years, post China announcing FDI retail reforms. Additionally, contrary to some concerns in China, post retail reforms, the number of traditional small retailers also grew by 30% over 5 years.[12]

India needs trillions of dollar to build its infrastructure, hospitals, housing and schools for its growing population. Indian economy is small, with limited surplus capital. Indian government is already operating on budget deficits. It is simply not possible for Indian investors or Indian government to fund this expansion, job creation and growth at the rate India needs. Global investment capital through FDI is necessary. Beyond capital, Indian retail industry needs knowledge and global integration. Global retail leaders, some of which are partly owned by people of Indian origin,[49] can bring this knowledge. Global integration can potentially open export markets for Indian farmers and producers. Walmart, for example, expects to source and export some $1 billion worth of goods from India every year, since it came into Indian wholesale retail market.[50]

Walmart, Carrefour, Tesco, Target, Metro, Coop are some of over 350 global retail companies with annual sales over $1 billion. These retail companies have operated for over 30 years in numerous countries. They have not become monopolies. Competition between Walmart-like retailers has kept food prices in check. Canada credits their very low inflation rates to Walmart-effect.[51] Anti-trust laws and state regulations, such as those in Indian legal code, have prevented food monopolies from forming anywhere in the world. Price inflation in these countries has been 5 to 10 times lower than price inflation in India. The current consumer price inflation in Europe and the United States is less than 2%, compared to India's double digit inflation.

The Pepsi and Coke example is meaningless in the context of Indian beverage market. More competition is lacking because of limited demand. Indian consumer has limited interest in soft drinks. Soft drinks represent less than 5% of Indian beverage market.[52] Indian consumer prefers milk-based, tea and coffee and these account for 90% of Indian beverage market. In these markets, Coca Cola and Pepsi have plenty of competition. The next most important market in India is bottled water, that outsells combined soft drink sales of the Pepsi and Coca Cola. Bottled water, milk, coffee and tea market in India are big markets, and have plenty of domestic brands, European brands like Nestle, as well as Pepsi and Coca Cola. Organized retail too will have numerous brands and strong competition.

Comparing 21st century to 18th century is inappropriate. Conditions today are not same as in the 18th century. India wasn't a democracy then, it is today. Global awareness and news media were not the same in 18th century as today. Consider China today. It has over 57 million square feet of retail space owned by foreigners, employing millions of Chinese citizens. Yet, China hasn't become a vassal of imperialists. It enjoys respect from all global powers. Other Asian countries like Malaysia, Taiwan, Thailand and Indonesia see foreign retailers as catalysts of new technology and price reduction; and they have benefitted immensely by welcoming FDI in retail. India too will benefit by integrating with the world, rather than isolating itself.[53]

With 51% FDI limit in multi-brand retailers, nearly half of any profits will remain in India. Any profits will be subject to taxes, and such taxes will reduce Indian government budget deficit. Many years ago, China adopted the retail reform policy India has announced; China allowed FDI in its retail sector. It has taken FDI-financed retailers in China between 5 to 10 years to post profits, in large part because of huge investments they had to make initially. Like China, it is unlikely foreign retailers will earn any profits in India for the first 5 to 10 years.[24] Ultimately, retail companies must earn profits with hard work and by creating value.

States have a right to say no to retail FDI within their jurisdiction.[36] States have the right to add restrictions to the retail policy announced before they implement them. Thus, they can place limits on number, market share, style, diversity, homogeneity and other factors to suit their cultural preferences. Finally, in future, states can always introduce regulations and India can change the law to ensure the benefits of retail reforms reach the poorest and weakest segments of Indian society, free and fair retail competition does indeed lead to sharply lower inflation than current levels, small farmers get better prices, jobs created by organized retail pay well, and healthier food becomes available to more households.

Inbuilt inefficiencies and wastage in distribution and storage account for why, according to some estimates, as much as 40% of food production doesn't reach consumers. Fifty million children in India are malnourished.[47] Food often rots at farms, in transit, or in antiquated state-run warehouses. Cost-conscious organized retail companies will avoid waste and loss, making food available to the weakest and poorest segment of Indian society, while increasing the income of small farmers. Walmart, for example, since its arrival in Indian wholesale retail market, has successfully introduced "Direct Farm Project" at Haider Nagar near Malerkotla in Punjab, where 110 farmers have been connected with Bharti Walmart for sourcing fresh vegetables directly, thereby reducing waste and bringing fresher produce to Indian consumers.[50]

Indian small shops employ workers without proper contracts, making them work long hours. Many unorganized small shops depend on child labour. A well-regulated retail sector will help curtail some of these abuses.[47]

Organized retail has enabled a wide range of companies to start and flourish in other countries. For example, in the United States, an organized retailer named Whole Foods has rapidly grown to annual revenues of $9 billion by working closely with farmers, delighting customers and caring about the communities it has stores in.[54]

The claims that there is no consensus is without merit. About 10 years ago, when opposition formed the central government, they had proposed retail reforms and suggested India consider FDI in retail. Retail reforms discussions are not new. More recently, retail reforms announced evolved after a process of intense consultations and consensus building intiative. In 2010, the Indian government circulated a discussion paper on FDI retail reforms.[12] On July 6, 2011, another version of the discussion paper was circulated by the central government of India.[55] Comments from a wide cross-section of Indian society including farmers' associations, industry bodies, consumer forums, academics, traders' associations, investors, economists were analyzed in depth before the matter was discussed by the Committee of Secretaries. By early August 2011, the consensus from various segments of Indian society was overwhelming in favor of retail reforms.[56] The reform outline was presented in India's Rajya Sabha in August 2011. The announced reforms are the result of this consensus process. The current opposition is not helping the consensus process, since consensus is not built by threats and disruption. Those who oppose current retail reforms should help build consensus with ideas and proposals, if they have any. The opposition parties currently disrupting the Indian parliament on retail reforms have not offered even one idea or a single proposal on how India can eliminate food spoilage, reduce inflation, improve food security, feed the poor, improve the incomes of small farmers.

[edit] Opposition to retail reforms

Within a week of retail reform announcement, Indian government has faced a political backlash against its decision to allow competition and 51% ownership of multi-brand organized retail in India.

Despite the fact that Salman Khurshid, India’s law minister, claiming that many opposition parties, including the Bharatiya Janata Party, had privately encouraged the government to push through the retail reform, the intense criticism now targets Congress-led coalition government, and its decision to push through one of the biggest economic reforms in years for India. Opposition parties claim supermarket chains are ill-advised, unilateral and unwelcome.[57]

The opposition claims the entry of organized retailers would lead to their dominance that would decimate local retailers and force millions of people out of work.

Mamata Banerjee, the chief minister of West Bengal and the leader of the Trinamool Congress, announced her opposition to retail reform, claiming “Some people might support it, but I do not support it. You see America is America … and India is India. One has to see what one’s capacity is.”[58]

Other states whose Chief Ministers have either personally announced opposition or announced reluctance to implement the retail reforms: Tamil Nadu, Uttar Pradesh, Bihar and Madhya Pradesh.

Chief Ministers of many states have not made a personal statement in opposition or support of India needing retail reforms. Gujarat, Kerala, Karnataka and Rajasthan are examples of these states. Both sides have made conflicting claims about the position of chief ministers from these states.

A Wall Street Journal article reports that in Uttar Pradesh, Uma Bharti, a senior leader of the opposition Bharatiya Janata Party (BJP), threatened to "set fire to the first Wal-Mart store whenever it opens;" with her colleague Sushma Swaraj busy tweeting up a storm of misinformation about how Wal-Mart allegedly ruined the U.S. economy.[59]

On 1 December 2011, an India-wide "bandh" (close all business in protest) was called by political parties opposing the retail reform. While many organizations responded, the reach of the protest was mixed.[60] The Times of India, a national newspaper of India, claimed people appeared divided over the bandh call and internal rivalry among trade associations led to a mixed response, leaving many stores open day-long and others opening for business as usual in the second half of the day. Even Purti Group, a network of stores owned and operated by Nitin Gadkari were open for business, ignoring the call for bandh. Gadkari is the president of BJP, the key party currently organizing opposition to retail reform.[61]

The Hindu, another widely circulated newspaper in India, claimed the opposition's call for a nation wide shutdown on 1 December 2011, in protest of retail reform received a mixed response. Some states had strong support, while most did not. Even in states where opposition political parties are in power, many ignored the call for the shutdown. In Gujarat, Bihar, Delhi, Andhra Pradesh, Haryana, Punjab and Assam the call evoked a partial response. While a number of wholesale markets observed the shutdown, the newspaper claimed a majority of kirana stores and neighborhood small shops — for whom apparently the trade bandh had been called — remained open, ignoring the shutdown call. Conflicting claims were made by the organizers of the nation wide shutdown. Contrary to eyewitness reports, one Trader union's secretary general claimed traders across the country participated wholeheartedly in the strike.[62]

The political parties opposing the retail reforms physically disrupted and forced India's parliament to adjourn again on Friday 2 December 2011. The Indian government refused to cave

in, in its attempt to convince through dialogue that retail reforms are necessary to protect the farmers and consumers. Indian parliament has been dysfunctional for the entire week of November 28, 2011 over the opposition to retail reforms

FACTORS AFFECTING TRAVEL & TOURISMCurrent factors affecting the travel and tourism industry today include:

* Destinations (e.g. changes, new destinations, re-established destinations, re-vamped destinations, third world destinations)

* Customers (range of customer types e.g. age, social background, families, independent etc)

* Time (e.g. change in pattern of taking holidays)

* Activities (e.g. new activities, change in activities)

* Technological (e.g. e-commerce, transport developments)

* Political (e.g. terrorism, war)

* Health and safety (e.g. natural disasters, epidemics)

Technological

The growth of the Internet has increased the collection of information about travel and tourism products and services. There is an estimation of 30 to 100 million worldwide users, this makes the Internet an important part of the travel and tourism industry. Anybody can access information on travel destinations, transport, accommodation and attractions on the Internet; they can also make bookings direct with travel and tourism companies using secure credit card facilities.

Customers can also get up to date information on a wide range of services such as flight schedules, train timetables, compare costs of similar products and find information about holiday destinations.

Since the Internet has given customers the ability to plan and book their own travel there has been a decrease in business in travel agents, therefore there is a decrease in business for tour operators.

FACTORS AFFECTING HOUSING SECTOR

1. Economic Growth. Demand for housing is dependent upon income. Therefore with

higher economic growth and rising incomes people will be able to spend more on

houses; this will increase demand and push up prices. In fact, demand for housing is

often noted to be income elastic (luxury good); rising incomes leading to a bigger % of

income being spent on houses.

2. Unemployment. Related to economic growth is unemployment. Clearly when

unemployment is rising, less people will be able to afford a house. But, even the fear of

unemployment may discourage people from entering the property market.

Other Reasons

Interest Rates. This is not really a ‘general economic condition’. But, a period of high

interest rates will cause lower demand for housing. It increases the cost of mortgage

payments and reduces the affordability of housing. In 1990-92, the sharp rise in interest

rates caused a very steep fall in UK house prices.

Consumer Confidence. Confidence is important for determining whether people want to

take the risk of taking out a mortgage. In particular expectations towards the housing

market is important; if people fear house prices could fall, people will defer buying.

Money Markets. This is risen to prominence in recent months as the credit crunch has

made lending money more difficult. The top banks and building societies are struggling

to raise funds for lending on the money markets. Therefore, they have tightened their

lending criteria requiring a bigger deposit to buy a house. This has reduced the

availability of mortgages.

FACTORS AFFECTING BANKING SECTOR

2. MAJOR ISSUES

Global Banking plays a big role in our economy. Today, banks are

being used in different ways. Others store their money to the banks and eventually it will increase because of the interest , some customers use banks for bus iness transactions and other individuals borrow money from the bank for emergency or business purposes. Banks are against f rom ant i -money launder ing. The most common types of criminals who need to launder money are drug traffickers, embezzlers, corrupt politicians and public officials, mobsters,

terrorists and con artists. Drug traf f ickers are in ser ious need of good launder ing systems because they deal almost exclusively in cash, which causes all sorts of logistics problems [4]. Most of the time, casino is the place where gangsters or mafias clean their money and afterwards, deposited the million amount of money they framed up as the prize claimed from the casino. Furthermore, Citibank really helped a lot from catching the small banks that are prone to bankruptcy in order to

save customers account. If a bank will be planning for a closure and there

are customers who have one million or higher credit from the bank, it will be responsible to return only250, 000PHP in Philippines. Usually, small banks give a big amount of interest to attract people do their banking with them and use the money for loaning in order to increase the a m o u n t o f m o n e y t h e y h a v e . B u s i n e s s e s a n d o t h e r   government establishments went to borrow money from banks and that is how the business works. Another reason why banks like Citibank really need to exist is to prevent the Domino Effect. It is where big banks fall and as the worst result of this, small banks fall as well. According to our Speaker, Mr. Jankitmil Quintans, there should always be a big bank that could support small banks and eventually become big in the near future. Way back in 1929, unitedStates, together with the countries around the world werehi t

hard by The Great Depress ion. B ig banks fa l l , samegoes with

the small banks and businesses. Economy fallsworldwide that causes suffering in different ways.We simply define recession as a crisis wherein economyfalls and in effect of this, number of unemployed individualincreases. One of the major causes of recession is calledinflation. It refers to the unpredictable increase of price of different products in a short period of time. As price goesup, we also adjust our budget in order to buy a certain good.It also increases the production cost of different productsthat chains the effect to one another. Furthermore, peoplewho do buy and sell tend to increase their price as well.S a m e g o e s w i t h t h e a f f e c t e d r e t a i l e r s o f d i f f e r e n t c o m p a n i e s . M o s t o f t h e c o n s u m e r s s a v e

m o n e y f o r   emergency use instead of using it for leisure. Probably, asthis scenario takes place, companies reduce the numbers of their employees to lessen their costs.Maybe some of us does not see the importance of  banks but if we do business, we can consider them as thewall of economy. Citibank as of now is carrying a big loadof responsibility and at the same time they satisfy their customers from their quality services. Spreading each of their branches in 200 countries makes them well-known asone of the prominent establishment in banking field.

3. MINOR ISSUEST h e m i n o r i s s u e s e x p e r i e n c e d b y o u r s p e a k e r a r e t h e  problems with employees who fail to follow some of ther u l e s , l a r g e a m o u n t o f m o n e y f r o m o u t s i d e t h a t a r e c o n s i d e r e d s u s p i c i o u s a n d t h e p r o b l e m s w i t h A T M . Trapped ATM cards are the common problems in ATMmachines nowadays. But thanks to Citibank, because theydeveloped a technology that prevents trapped ATM card.Minor issues such as problems of the bank can be preventedin some other way. Awareness is the key for the bestdecision.E a r n i n g t r u s t f r o m t h e p e o p l e a n d q u a l i t y o f   service is a must for all banks. For the side of big banks,they should maintain their good customer relationship andthe name that was build for many years. One mistake maydiminish the number of people who transacts with the bank and the worst part; investors will be affected as well. For the smal l banks, bui ld ing a good impress ion f rom the  public is the most difficult thing to do and we cannot denythat this is one of the necessary factors in order to succeed.By putting ourselves into the shoe of the customer, we mayhave a doubt to trust a small bank due to its freshness in the banking industry.Minor problems that occur in a bank usually landed to thenewborn banks. Capital issues are one of those that can bethe source of d isasters . As a customer, we prefer to do transactions with big banks rather than small bank. Havinghigh interest rates per annum compared to the big banks isa part of their strategy that will surely attract people. Inreturn, they use it as a capital for loaning to increase their  funds. But this is not an easy thing to do; small banks havea hard time to attract people especially in the urban places.We all know that geographical area is one of the factors toc o n s i d e r . S m a l l b a n k s s p r e a d i n r u r a l a r e a s w h i c h increases the competency level of banks in a small place.This situation may lead to bankruptcy of other banks whod i d n o t m e e t t h e e x p e c t e d n u m b e r o f p e o p l e t o d o transactions with them. Technologies and services that arenot available from other banks may be an advantage thathelps them to grow. They should maintain their progress because people will expect a lot from them. Good strategyfrom managers is a must, and improvement in the outputshould be seen regularly. We cannot tell what will

happentomorrow and in th is case, managers should forecast inorder to come up with a plan to do when disaster strikes.Poor management may lead to business closure and somenewborn banks did not notice if they were on the right track or not.