Ecosystem- based management(EBM) is a complex approach to better govern the environment that must always illustrate the collaborative trend in policy and public administration. Even in case of a bank its shareholder, customers and government’s involvement is almost always articulated. However, one does not always know the outcome of the collaboration, but one can address this gap by developing and evaluating a set of hypothesis specifying how patterns of collaborations among different institutes affecting their joint ability to accomplish EBM.
Ecosystem?based management (EBM) is presented to us in a positive approach to better govern the biosphere and has made its way into research and practices one different levels in regards to aerial, terrestrial and marine biomes. EBM stipulates a holistic approach to management, emphasizing that nature consists of myriad interacting components (e.g., species and the physical environment) that together give rise to systemic entities.
Althoug The Toronto-Dominion Bank is a chartered bank subject to the provisions of the Bank Act (Canada). It was formed on February 1, 1955 through the amalgamation of The Bank of Toronto, chartered in 1855, and The Dominion Bank, chartered in 1869.(td.com, 2018) The branch of TD bank in westwood mall in Mississauga, Ontario was started in 2004.
TD Canada has its headquarters in Toronto, Canada with over 85,000 employees in offices around the world. TD bank group and its subsidiaries is also collectively called the Toronto- Dominion Bank. TD offers a wide range of financial products and services to more than 25 million worldwide through three major business lines:
• Canadian Retail including TD Canada Trust, Business Banking, TD Auto Finance (Canada), TD Wealth (Canada), TD Direct Investing and TD Insurance
• U.S. Retail including TD Bank, America’s Most Convenient Bank, TD Auto Finance (U.S.), TD Wealth (U.S.) and TD’s investment in TD Ameritrade
• Wholesale Banking including TD Securities
TD had CDN$1.3 trillion in assets on July 31, 2018. The company ranks among world’s leading financial services firm with approximately 12 million active users of its mobile and active users. TD also trades in Toronto and NY stock exchange under the symbol “TD”.
It is important part of EBM that there be integration of all three aspects. The aspects being social, economic and ecological goals. It is needed as one part of aspect cannot be dealt alone as they are interlinked. According to pipap.sprep.org ecosystem based management is a framework for developing effective management plans based on an accepted set of guiding principles. This requires additions from different sections of ecosystem of which social, economic and ecological goals are a part of. People throughout time have wanted to live in groups(that makes man social) helping each other financially (that makes man economically intelligent) while leaving little effect on the earth(man is ecologically conscious). Eliminating a certain aspect from all combined has rambunctious ramifications. According to integratedecosystemassessment.noaa.gov humans are a integral part of ecosystem. Within EBM, human and ecological well being are tightly coupled. Sustainability in both is only possible when they are addressed together. EBM by itself is too complex however by taking a step by step process that is adaptive one can learn and can move together in this holistic type of management.
When we look at the boundaries of the physical expansion of TD we find that it a strategy of the parent company to redefine itself in a place where there is deforestation due to construction of malls, buildings and houses to better accommodate the people living in Mississauga. TD is also looking after its ecological boundaries by providing grants to support environmental issues like green space programs and saving our natural resources. Eligible projects include schoolyard greening, park revitalization, community gardens, park programming and citizen science initiatives. TD is also the first bank to stop its carbon footprint by mailing letters made out of recycled paper. On their website TD is commited to protect critical forest habitat and enhance neighbourhood green spaces through collaborations with environmental and community organizations across North America.
natural processes and social systems, and using an adaptive management:
Within the field of natural-resources management, the application of adaptive management is appropriate for complex problems high in uncertainty. Adaptive management is becoming an increasingly popular management-decision tool within the scientific community. McFadden, Hiller,Tyre (2011).
The chosen branch of TD in Westwood mall has some of the largest population of African- Canadian and Indo- Canadian population in the country residing in its vicinity(worldpopulationreview.com, n.d ). As this place is a primary residence of immigrants having a branch in such a community has its own advantage. The bank is offering different mentorship and events to new comers as this acts as social EBM for new Canadians(td.com,2018).I believe so because by integrating numerous people from the community into the program sponsored by TD it is establishing a economic growth as well as increasing social structure of Canada. The bank in Westwood mall is also providing competitive mortgage rate for new home buyers as well as for commercial areas. This will result in economic prosperity however, the land near the settlement is increasingly turned into malls or houses. This is where TD Canada in westwood mall fails to be an ideal EBM driver in the community.
McFadden, J.E., Hiller, T., & Tyre, A.J. (2011). Evaluating the efficacy of adaptive management approaches: is there a formula for success? Journal of environmental management, 92 5, 1354-9.