The Dominion bank is currently cracking the whip on banks that are not meeting its regulatory requirements. This exercise has led to the closing down of several banks leading to loss of several jobs. Even the managers of the surviving banks are under pressure to meet these requirements including the payment of the increased minimum capital requirement. When the Governor of the Dominion bank was interviewed about the rationale behind these actions, he stated that ‘This exercise in not new. Every seriouscountry needs to sanitize the financial sector and Canada is no exception. This is a worldwide phenomenon’. He was again asked of the strategy they used to detect that the affected banks were not following regulations. He responded that ‘in this digital age, everything is possible by just pressing a button. It was pretty easy’. However, the public is divided on the issue. Some believe that the Dominion bank was insensitive to the plight of the owners of these banks especially the fate of the employees who have lost their jobs. Others believe that the Dominion bank was right to have cracked the whip as failure to do so would have resulted into loss of funds for most of the clients. The debate on this issue is currently unending. Juluis, who worked at one of the collapsed banks said he was not surprised about the decision of the Dominion bank because USA did same some years back and it worked well for the country. As for Mr. kojo, he is very concerned about how he will cater for his family after losing his job and is already cursing the Dominion bank. Mansa is rather jubilating because even though he lost his job, the government is going to pay his investment of CA$50,000 he saved in another bank which was taken over by the Dominion bank. There have been several calls on the Dominion bank to rescind their decision on shutting down the banks but the Dominion bank insists on maintaining their decision. The ruling government is concerned about possible loss of votes since the public is agitated based on the actions of the Dominion bank. The government has decided to overrule the Dominion bank and stop the actions of Dominion bank. 1. If you were the President of Canada, use each of the process-based approaches to solving problems to recommend how you would have resolved this issue. use the following process based approaches to answer the question: proactive, reactive, and interactive.
The Dominion bank is currently cracking the whip on banks that are not meeting its regulatory requirements. This exercise has led to the closing down of several banks leading to loss of several jobs. Even the managers of the surviving banks are under pressure to meet these requirements including the payment of the increased minimum capital requirement. When the Governor of the Dominion bank was interviewed about the rationale behind these actions, he stated that ‘This exercise in not new. Every seriouscountry needs to sanitize the financial sector and Canada is no exception. This is a worldwide phenomenon’. He was again asked of the strategy they used to detect that the affected banks were not following regulations. He responded that ‘in this digital age, everything is possible by just pressing a button. It was pretty easy’. However, the public is divided on the issue. Some believe that the Dominion bank was insensitive to the plight of the owners of these banks especially the fate of the employees who have lost their jobs. Others believe that the Dominion bank was right to have cracked the whip as failure to do so would have resulted into loss of funds for most of the clients. The debate on this issue is currently unending. Juluis, who worked at one of the collapsed banks said he was not surprised about the decision of the Dominion bank because USA did same some years back and it worked well for the country. As for Mr. kojo, he is very concerned about how he will cater for his family after losing his job and is already cursing the Dominion bank. Mansa is rather jubilating because even though he lost his job, the government is going to pay his investment of CA$50,000 he saved in another bank which was taken over by the Dominion bank. There have been several calls on the Dominion bank to rescind their decision on shutting down the banks but the Dominion bank insists on maintaining their decision. The ruling government is concerned about possible loss of votes since the public is agitated based on the actions of the Dominion bank. The government has decided to overrule the Dominion bank and stop the actions of Dominion bank.
1. If you were the President of Canada, use each of the process-based approaches to solving problems to recommend how you would have resolved this issue. use the following process based approaches to answer the question: proactive, reactive, and interactive.
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