4)Other types of banks

-Central banks are normally government-owned and charged with quasi-regulatory responsibilities, such as supervising commercial banks, or controlling the cash interest rate. They generally provide liquidity to the banking system and act as the lender of last resort in event of a crisis.

17. Brand management

Brand is a trade mark or manufacturer which has a popular name. It may be national (famous in one country) and international (popular all over the world). Brand always has its own individual name – logo. Companies often become brands by their successful advertising programme and production only high-quality products that satisfy all customers needs. Some companies organize product teems carrying out different activities from research and development to selling products. There is also one secret named “marketing mix”, which consists of four Ps – product (selling right product), price (at the right price), place (through the right distribution channels), promotion (right support and communication). In spite of the fact that brands are top-end products that are more expensive than non-brands (mid-range or downscale products) people are ready to overpay for such goods, because they are believe in theirs quality. Nowadays well-known companies have really big problem producing fakes. Counterfeiters rip off merchandise, which infringe copyright. And companies may lose its profit and brand-loyal customers that may become disappointed in quality of goods.

Calvin Klein company, like most other internationally-known designers, has a problem with counterfeiters selling poor-quality merchandise using brand’s name. When brand’s name becomes more popular more people want to rip it off. Company established network of specialists to uncover copyright abuse. But sales and brand awareness rise and Calvin Klein is a popular target for Asian and European counterfeiters, which not only reduce company’s sales but damage its brand image.

Beeline is the most popular and valuable brand in Russia. This brand belongs to “VimpelCom” company. Beeline shows the highest results in Russian market, demonstrating the brand’s effectiveness in business profitability. Company is an example of strong marketing orientation and brand management. Today brand more than ever helps company to have stability in running business, increase consumer loyalty and attractiveness for current and future customers.

18. Law

Since colonial times, government has regulated business. The need for more responsive and effective business regulation was at least part of the reason for the fight for independence and the establishment of the federal government. The legal framework of federal, state, and local governments govern business activities, and business law has an important role in the private enterprise system. A law is a standard set by government and society in the form of either legislation or custom to govern the behavior of its members. Law is a system of rules, usually enforced through a set of institutions It shapes politics, economics and society in numerous ways and serves as a primary social mediator of relations between people. The laws affect nearly all facets of business, including business ownership forms, small business, human resource management, labor management relations, marketing, production and operations management, computers and information systems, accounting, banking, financial management, securities markets, international management, business transactions, competitive practices, and the environment.

Everyone engaged in business has an obligation to know those laws that specifically affect business. The following discussions will center on the following twelve apostles of business law: contract law; sales law; the Uniform Commercial Code; negotiable instruments; property law; agency law; tort law; bankruptcy law; patents, trademarks, and copyrights; and tax law. Bankruptcy law is a protective law that allows debtors to legally not pay the financial obligations that they have incurred. A trademark is a registered logo that consists of words, symbols, or other designations used by businesses to distinguish their products. Contract law is the legal foundation on which normal business dealings occur. The elements of a contracts are agreement, consideration, legality and seriousness of the agreement, and the parties' capacity to make the agreement. Sales law is an offspring of contract law. It involves the sale of goods or products for money or on credit. The Uniform Commercial Code (UCC) provides the basis of much of sales law in the United States. Negotiable instruments are forms of commercial paper that are transferable among individuals and businesses. Property law is a key feature of the legal system. Property can be divided into two categories: Real Property (Real Estate) and Personal property. Personal property is designated as either tangible personal property or intangible personal property.

Agency law is based primarily on common-law principles. Agency is a relationship in which two parties (the principal and the agent) agree that one will act to representative of the other. The principal in any agency relationship is responsible for the actions of the agent. Tort law deals with compensating injured persons through noncriminal wrongs. It is closely related to the law of agency. The three major areas of this law are intentional tort, negligence, and product liability.)