Importance Of Crm For Hdfc Bank - Free Essay Example

Sample details Pages: 21 Words: 6293 Downloads: 9 Date added: 2017/06/26 Category Statistics Essay Did you like this example? The aim of this dissertation was to examine the importance of CRM for HDFC Bank. To achieve this aim, following objectives were set: To analyze the effectiveness and efficiency of CRM services provided by the HDFC Bank, to examine the effects of CRM on business performance and operational effectiveness and to evaluate the improvements in customer service due to it, to assess the awareness of the bank employees to the concept of CRM and its benefits for the organization, to determine the extent of customer satisfaction level by conducting interviews, distributing questionnaire and carrying out a survey in HDFC Bank, to gather relevant data and critically analyzing it using a vast variety of sources and research tools. The chapter encompass the analysis and evaluation of the data collected via different research methods and includes both quantitative and qualitative measures taken into account and discussed upon. Don’t waste time! Our writers will create an original "Importance Of Crm For Hdfc Bank" essay for you Create order The researcher presented much of the quantitative data into graphs so that it could easily be understood. As discussed in the last chapter, interviews were conducted from branch manager and two of the middle line managers. Survey was conducted from randomly selected 80 (+3 later) customers to gain their views; along with it, short questionnaires were also distributed to randomly chosen 30 bank employees to take into account their perspectives about the adaption and use of CRM in the bank. Interviews were purposely kept informal and qualitative data was collected about the bankà ¢Ã¢â€š ¬Ã¢â€ž ¢s strategy, plan, objectives and actions taken regarding the adaption and use of CRM system and applications. In the interviews, the researcher inquired about many other things which are discussed in the qualitative analysis below. The survey from employees was mainly concerning the effects of CRM on their performance and how it affected their day to day bank functions and operations. Questionn aires from customers included their perceptions about the bank services and whether those improved. The data gathered by interviews provided helpful information about the bank strategic plans and policies and gave insight into the banking operations. It also provided information on customer relation management systems, infrastructure of information and technology, and its effects on the employee performance, customer satisfaction, increased sales targeting, and over all culture of the organization, etc. The objective of the interviews was to have the complete picture of what the aims of the management were and to evaluate the efficiency and effectiveness of the CRM systems. The researcher analysed the current situation of the CRM and how effective it was and in line with the IT services and if it supported the business strategy keeping in view the future developments and enhancements in IT. The rate of response from employees and customers was 100% though some customers and employees left very few questions unanswered. The researcher realized the weakness of research validity because it was hard to grasp real feeling of respondents in terms of such contrasts as satisfied/dissatisfied, agree/disagree, etc. Nonetheless, an effort was made to ensure the questions appear to be measuring all important aspects of the construct and results of questionnaires are consistent with results of established measures. In order to gather more reliable and valid data, the researcher also conducted short interviews from some of the employees and customers. These were not pre-planned but helped a lot in explaining the answers in details. The researcher also ensured that interviews and questionnaires follow a specific pattern. The findings are reported below and separate analysis is provided for managersà ¢Ã¢â€š ¬Ã¢â€ž ¢ interviews, employeesà ¢Ã¢â€š ¬Ã¢â€ž ¢ questionnaire and customersà ¢Ã¢â€š ¬Ã¢â€ž ¢ questionnaire. Appendix is provided on a separate sheet which contains copies of employeesà ¢Ã¢â€š ¬Ã¢â€ž ¢ questionnaire, customersà ¢Ã¢â€š ¬Ã¢â€ž ¢ questionnaire, and the copy of questions that were asked during the interviews with the manager. It is very important to mention here that the researcher undertook pilot study before the actual commencement of the research. It was a feasibly a very small experiment to test logistics and collect data prior to the greater research in order to improve the quality and efficiency of the questions asked in the interviews and questionnaires. It was important to test the questions designed in the questionnaires before they are actually used in the research in order to determine whether they are conducive towards the research and would pose no problems for the respondent and experts should be consulted to comment on the suitability of the questions and this is regarded as pilot study. The branch manager was approached and informal meeting was held. The researcher asked few short questions (similar to the questions asked in later study but in details). The manager also helped me ask few simple questions from 5 of the employees to test my questionnaire and reveal any deficiency in the desi gn of the proposed experiment. Although it provided limited information but it proved vital for the severity of the proposed procedures. All the information gathered in addition to review of bankà ¢Ã¢â€š ¬Ã¢â€ž ¢s own research questions were incorporated into the main study design. However pilot study did not lead to modification of any pre-planned research process. The differences of results from main research were discussed in summary in following sections. 4.2. Qualitative Research Discussion The researcher conducted one pilot interview with branch manager first. After finalising the questions, another formal interview was taken. There were almost same responses in both occasions. Two of the middle line managers were asked for their time for interviews and luckily single interview was taken from both managers. Interview 1 is from branch manager and interview 2 is from line/operational managers. Senior manager was asked questions about overall bank performance and importance of CRM while managers at mid-level were enquired on matters regarding operational functions. Questions asked from senior managers include: How does CRM impact companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s performance both directly and indirectly? What is the evidence that CRM improves customer services? What type of CRM software and applications does the bank use? Do you have any CRM implementation policy? How important is CRM requirement in strategic planning? What is your opinion about the use of CRM in the bank? What role does management and employees play in successful implementation of CRM? Please discuss on future CRM plans? Questions put forward to operational managers include: What are the factors influencing and encouraging the use of CRM? What are the benefits and limitations of CRM for the company? What are the problems encountered by the company in adapting and implementing CRM systems? How do employees respond to CRM? How do customers respond to CRM? What are the operational planning activities CRM provide the bank? How do CRM systems add value on financial packages and services? How CRM does contribute to customer satisfaction and retention? Is CRM proven way of managing customer information? Does CRM assure customer responses? In what ways do CRM contribute to customersà ¢Ã¢â€š ¬Ã¢â€ž ¢ loyalty? Does the implementation of CRM affect the company-customer relationship? What are the most important factors influencing CRM in company? Are you satisfied with the adaption and use of CRM? Interview 1: The bank manager in his interview explained that the changing banking environment has affected the way Indian banks used to operate and function. Intense competition, environmental factors such as legal and social, and the ever updating norms of the financial institutions has and impact on the banks to adapt and adjust accordingly and to amend their policies and procedures. He believes that marketing and technology play crucial role for banks as they are the institutions that provide direct services to its clients, therefore HDFC Bank recognises this as stated by branchà ¢Ã¢â€š ¬Ã¢â€ž ¢s managerà ¢Ã¢â€š ¬Ã¢â€ž ¢s own words, à ¢Ã¢â€š ¬Ã…“The Bank understands the significance of the role of technology and marketing for improving customer relations and services especially in the intensely competitive and changing Indian banking sectorà ¢Ã¢â€š ¬?. When enquired about the need for CRM, the manager responded that à ¢Ã¢â€š ¬Ã…“The bank needs to maintain data and information about i ts clients, and must have a system that could help the bank improve its customer services; therefore it must have basic CRM technology to track and serve the customersà ¢Ã¢â€š ¬?. This led to adaption of latest CRM technologies and processes. Bank manager, in the interview explained that à ¢Ã¢â€š ¬Ã…“The bank needed to adapt CRM in order to increase profitability by reducing operational costs in serving the customersà ¢Ã¢â€š ¬?. According to his belief, à ¢Ã¢â€š ¬Ã…“HDFC Bank had been facing traditional problems of lack of modern delivery and marketing techniques in current fast emerging digital economyà ¢Ã¢â€š ¬?. The Bank constantly searched for means to improve their service and to increase customer base. CRM provided the opportunity for the bank as it brought together relationship of IT and marketing strategies to create profitable and long term relationships with clients. When further questioned about why the bank adapted the CRM policy and procedures, the managers rep lied, à ¢Ã¢â€š ¬Ã…“Satisfying our clientsà ¢Ã¢â€š ¬Ã¢â€ž ¢ needs was our major focus and was an important factor in implementing our CRM initiative. Some customers demanded the improvement in our approach to managing customer relationships which assisted us deciding to adopt and implement CRM programs capabilitiesà ¢Ã¢â€š ¬?. To meet the needs of the customers, HDFC Bank timely started to focus on developing a customer relationship management (CRM) system. Realizing the significance of customer information availability, the project was undertaken by the bank with the spirit that has characterized the whole CRM development. The project has promoted a massive involvement of suggestions from clients, employees and other stakeholders. Strategic plan was developed and targets were set. The management developed the CRM infrastructure and adapted latest CRM procedures. When asked if the bank has any CRM implementation policy, the management answered that à ¢Ã¢â€š ¬Ã…“HDFC Bank has a central policy of using CRM within all its branches which controls all the CRM procedures. The Bank has incorporated the CRM policies into its strategic vision and mission statementsà ¢Ã¢â€š ¬?. Although the manager didnà ¢Ã¢â€š ¬Ã¢â€ž ¢t give exact figures on how the bank specifically the main branch has spent on CRM implementation and introduction of new systems but they agree that the bank devote considerable amount of resources to manage CRM. The bank realizes that it is vital that its CRM applications and systems are supported and controlled by qualified and experienced managers. For this reason, all the managers are trained and experienced to bring together professional staff, encouraging communication and coordination among them, promoting team work and instructing ways in quality service and ensure that CRM systems work efficiently. When enquired whether the bank has any evaluation and appraisal in place, the manager responded that à ¢Ã¢â€š ¬Ã…“The bank has developed a mechanism to check whether CRM is effectively in good useà ¢Ã¢â€š ¬?. The managers ensure that regular feedback system to consider perspective of the management, employee participation perspective and customer experience perspective. According to the branch manager, à ¢Ã¢â€š ¬Ã…“The bank generated better than expected outcomes. CRM has positively influenced every banking function and operationà ¢Ã¢â€š ¬?. The manager believes that the bank now provides better and improved banking services. Its operating efficiently and management and employees work more effectively. The speed of the work has improved due to CRM adaption. CRM has helped the bank to target the strategies for better customer services. It has also assisted in facilitating customer service which resulted in satisfied customers and profitable business. The adaption and implementation of CRM by the bank has resulted in improved performance and profitability. Interview 2: Both the middle line managers were questioned about the operational activities of the bank and how the adaption of CRM technology and implementation of CRM processes and procedures has influenced the banking activities. The managers were in charge of the implementation after the senior manager set the strategic plan. They were very much aware of the involvement of bank staff if the CRM adaption was to be successful. One of the managers during the interview discussed that à ¢Ã¢â€š ¬Ã…“The major decision they tool to successfully adapt the CRM within the bank environment was to empower its employees in decision makingà ¢Ã¢â€š ¬?. The management realized that CRM adaption requires the well trained, educated and experienced staff to work on it. They are theoretically and practically trained on how to utilize latest CRM system and applications. The managers explained that à ¢Ã¢â€š ¬Ã…“The Employees are given access to customer database so that they can make on the spot and efficien t decisions. They are also empowered to resolve small customer issues themselves, though major complaints are still dealt centrally by the senior management. Employees are also involved in searching, adapting and evaluating CRM needs for the bank. The management emphasises greatly on availability of latest and advanced information and communication technology to its staff and takes extra measures to ensure this happensà ¢Ã¢â€š ¬? The managers were also responsible for planning, sorting, reviewing and monitoring work of the employees. The managers believe that the bank now provides better and improved banking services. According to their belief, employees work more enthusiastically, are well motivated and are satisfied with their roles and responsibilities. The managers think that bank processes such as sales and marketing works more efficiently. Due to CRM, the bank can access a wide variety of sources for required information, ideas and experiences. Employees work more effectively by reducing repetitive tasks, decreasing costs, and minimizing risks. They can deal with customer enquiries without any difficulty and resolve many issues on the spot. Another benefit that the bank has received is increase in speed and reliability of banking functions/transactions. CRM has helped the bank to target the strategies for better customer services. It has also assisted in facilitating customer service which resulted in satisfied customers and profitable business. The adaption and implementation of CRM by the bank has resulted in improved performance and profitability. The managers also stated that operational inefficiencies have reduced and few resources are being wasted. CRM also helped developed new incentives for clients by searching their data and records which are collected by latest systems and applications. The most important impact of CRM on bank as felt by managers is the creation of climate of trust that helped in customer loyalty and retention. The management is completely satisfied with the results of CRM use in the bank. Their future plan is simple and that is continuing with the current policy. They understand that CRM technologies rapidly change. It is hard to forecast where CRM technology will be in the next few years. According to the words of the Branch manager, à ¢Ã¢â€š ¬Ã…“We are often one of the first in our industry to detect technological developments that may potentially affect our business. We generally respond very quickly to technological changes in our environmentà ¢Ã¢â€š ¬?. The management ensure that staff maintains close relations with bank clients. The managers recognise the basic value of the bank and that includes learning as a key to improvement. They believe that they have common language to deal with CRM issues and have a clear division of roles and responsibilities to implement or update CRM. They also think that they have necessary skills and technical competence to absorb the new CRM systems processes, tools and applications. The management agrees unanimously that bank uses CRM to drives profitability, cut costs, reduces risks and improves customer service. The management finds it challenging to ensure clients prefer their services over that of others. The managers believe that the key to develop a close customer relationship and nurture it is to appreciate the needs and cater the requirements of the customers. The bank uses CRM technology to analyze the customer needs and to ensure customer satisfaction. The use of CRM in the bank has become crucial with aggressive strategies employed to gain and retain customers, which has resulted in the adoption of various CRM initiatives to enable the bank to achieve its objectives. The management realized to build a close relationship between IT and marketing aspects of CRM to develop lasting client retention. In summary by introducing and adapting the latest CRM methods, techniques, applications and systems, banks can provide be tter customer service, increase customer revenues, discover new customers, sell products more effectively, help sales staff close deals faster, make call centres more efficient, simplify marketing and sales processes. 4.3.1. Quantitative Findings (Employees) What is your opinion about the use of CRM in the bank? Strongly Agree Agree Neutral Disagree Enables cost reduction 7% 28% 48% 17% Improves efficiency 22% 29% 26% 23% Reduces time 43% 25% 22% 10% Improves communication 65% 16% 16% 3% Avoids redundancy 62% 24% 10% 4% Better customer relationship 81% 15% 3% 1% Enables market research 38% 33% 20% 9% Provides customer information 89% 7% 4% 0% A huge majority (89%) agree that by using CRM, employees can have access to customer information. Majority of the employees (71%) believe that CRM system and applications help in carrying out market research easily. Almost all (96%) of employees agree that CRM help in improving and maintaining better customer relationship management. 81% of them agree that communication among employees and with customers improve due to use of CRM. 86% agree to the notion that it reduces the work to be repeated and minimizes mistakes. Half of the employees (51%) said that CRM improves bank efficiency and only 38% answered positively that it enables in cost reduction. Half of the employees stayed neutral to this question. Please comment on the importance of CRM for employees? 64% of the employees strongly believe that adaption and use of CRM for bank is very important. Other 27% also agree and consider it important while only 9% consider its importance average. None responded negatively. Are you satisfied with the use of CRM in the bank? 60% of the respondents stated that they are satisfied with the use of CRM in their bank, 21% are on the view that they are neither satisfied nor dissatisfied while 19% showed their dissatisfaction. Please express your views on the reliability of CRM software and applications? Only 41% of the employees consider the CRM system and applications used in the bank as reliable. 50% are neutral and remaining 9% consider CRM unreliable. 4.3.2. Quantitative Findings (Customers) Please tell if you are you satisfied with the service quality? 87% of the customers are satisfied with the bank services and approved the quality of services provided by the bank. Only a small minority of 3% noted their dissatisfaction. Do you agree that there is sufficient staff-customer communication? 36% of customers believe that there is sufficient communication between employees and customers, 46% are neutral and remaining 18% hinted their disagreement. How do you find the communication between bank staff and customers? 3/4th of the customers asked find the communication good and better and only 12% think that it still can be improved. The other 12% stated the poor communication between bank and them. How do you find friendliness and helpfulness of the staff service? Majority (79%) of the customers consider the staff friendliness and helpfulness as good and excellent. 10% rated it as average and 11% rated it as poor. Please rate your satisfaction level in regards to steps taken by the bank in delivering the services? Third fourth (76%) of the surveyed customers responded positively to this question and agree that bank has improved its services very well. On a scale of 1 (dissatisfied) to 5 (satisfied), how would you rate your level of satisfaction in regards to service value? Only 14% of the customers are placed in the dissatisfaction zone 2/3rd are satisfied with the value of the bank service they receive. Are you satisfied with the bankà ¢Ã¢â€š ¬Ã¢â€ž ¢s response to your queries? 1/3rd of the customers pointed out their dissatisfaction with the bank response to their issues and 60% answered their satisfaction to this matter. How do you view timeliness and quality of response? 71% of the customers positively view the timeliness and quality of steps taken by bank to resolve their queries. 1/4th consider it as lacking in quality. Do you agree that customer service has improved? 100% Agree How would you rate the overall quality of your relationship with bank, considering all of your experiences with them? 76% responses are positive and only 6% answers are negative on rating the overall quality of their relationship with the bank. 4.4.1. Employeesà ¢Ã¢â€š ¬Ã¢â€ž ¢ Questionnaire Discussion Adaption and use of CRM by HDFC could have been effective only with the support and cooperation of bank staff. Management recognised this and took the appropriate steps as explained in the interview analysis. Even the bank employees realized that their support was crucial if the new system and application had to work because they are the persons that interact with customers directly and this interaction greatly influences the relationship of the bank with customers. Successful adaption was only possible in HDFC Bank if employees were motivated and enthusiastic to cooperate with the CRM processes. The employees were properly trained to use the system and CRM tools to improve the bank services. It was very important for the researcher to take employeesà ¢Ã¢â€š ¬Ã¢â€ž ¢ views in this dissertation, because their perceptions, perspectives morale, skills, experience and satisfaction all influence the work performance and consequently bank performance. These factors are affected by sudden change in the organization specifically if it is technology related. In the survey results, bank employees in general showed satisfaction towards the CRM use within the bank environment. Majority of them agree that new ICT tools for CRM system and applications have helped improve their communication within the bank with colleagues and managers, and externally with customers. When asked by the researcher about the problem of repeating tasks, they collectively replied that this issue has been reduced to minimum due to CRM in bank. Employees can access the database where all the information of specific client is provided, just enter the reference or other details, and the information comes in fro nt of them. This has helped a lot in risk reduction, quality work in less time and effective performance. Employees believe that customers feel satisfied with the service they provide. Two third of the surveyed employees believe that CRM utilities are very important for their performance and they are completely satisfied with the use of CRM technology and procedures. However many employees have concerns for its reliability and they feel that they have to constantly update their knowledge of its use as the technology changes rapidly. Overall the employeesà ¢Ã¢â€š ¬Ã¢â€ž ¢ responses were positive as they expect more benefits with little or no limitations in the use of CRM to improve bank performance and services. They have used the new technology, process, procedures, tools and systems related to CRM and they believe that CRM is essential for Bank for current and future use as it directly and/or indirectly affects their performance that in turn improves bank performance as employees provide quality services. 4.4.2. Customersà ¢Ã¢â€š ¬Ã¢â€ž ¢ Questionnaire Discussion Banks understand that customer satisfaction is an important variable in order to retain the existing clients or gain the new ones. Poor customer satisfaction leads to a decline in customer loyalty, and given the extended offerings from the competitors, customers easily switch banks. HDFC understands the importance of customer satisfaction and value the customer relationships. CRM was introduced to improve customer services and relationships with customers. The information gathered by the bank management reveals that customers are generally satisfied with the services provided by the bank. The following analysis is the assessment and measurement by the researcher. This research is directed to find the perceptions of the customers towards services provided by HDFC bank and whether these are improved. The researcher tried to describe the research motives behind the findings through this questionnaire. The main aim was to gain the customers impression and assess the efficiency of the CRM system, technology, processes and applications applied by the bank. The researcher attempted to gauge how well CRM influenced the services. Vast majority of the customers disclosed their satisfaction on the bank services. Although the figure remained the same if compared with the survey conducted by the bank few months ago but almost all the customers agreed that the bank service has improved ever since. When asked about the communication process between them and the bank, the reply was not encouraging as many customers feel that this area still needs to be improved. Most customers want face to face interaction and require the bank to provide services for longer hours. If compared with the previous data collected, this survey suggests that communication has improved mainly due to telephone service for minor complaints and information. Although it is good but cannot be considered sufficient. When enquired about the friendliness and helpfulness of the bank staff, many customers respo nded that employees provide good service with better attitude than before. They tend to their issues with sympathy and try to resolve the queries professionally and effectively. They admire that the bank is working hard to train its employees in skills for improved customer service. They also appreciate the introduction of CRM processes that led to improvement in all areas. 4.5. Importance of CRM for Bank in Summary The results generated from the interviews and surveys conclude that CRM has had a very positive effect on the bank performance. It not only helped employees learn and improve but also influenced their morale and motivation. This has an indirect effect on the way bank serve its customers. By adapting CRM processes, the bank has provided its customers with satisfactory services which increased customer loyalty and helped build better relations. CRM has an impact on every bank operation and function. CRM has guided bank to induct latest technological system and application to collect, analyse and use customer information effectively and efficiently run the day to day operations of the bank. CRM has provided a means to better communication and coordination of employees with customers. Other benefits that have been gained include reduction in cost, speedy transactions, reliable flow of information. The bank has achieved the overall objectives of using technology to organize, automate, and synchronize business processes with the implementation of CRM and has been successful in finding, attracting, and wining new clients, and reducing the costs of marketing and client service. The bank realizes the importance of CRM todayà ¢Ã¢â€š ¬Ã¢â€ž ¢s competitive environment that it considers it as an integral part of its strategic business plan. CRM integrated approach makes all the difference to satisfying customers, retaining their loyalty, providing added value and generating growth. In fact, CRM might be the difference between the bank to flourish and failure to survive. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Chapter 5: Conclusion Recommendations 5.1. Research Summary Customer Relationship Management (CRM) is an organizational strategy that can assist a bank to build lasting relationship with its clients and improve its performance by increasing revenue and productivity. CRM in the banking industry is of great importance. Today, banking is more customer-centric, unlike the yester when it was transaction-centric. CRM is essential and vital function of customer oriented marketing. However there is more to CRM than just client management. CRM is a broad approach to create, maintain, and expand relationship with customers. It is a strategic plan that aims in understanding, anticipating, managing and personalizing the organizational needs of current as well as potential customers. The idea behind this is that it would help the bank to effectively utilize technology and other resources to gain insight into the clientsà ¢Ã¢â€š ¬Ã¢â€ž ¢ behaviour and customersà ¢Ã¢â€š ¬Ã¢â€ž ¢ values. If adapted and implemented successfully, CRM can help banks provide b etter customer service, make banking operations more efficient and simplify selling and marketing processes. CRM is a comprehensive approach to cater, maintain and expand customer relationships. It is important for banks to use CRM strategy that aims to understand, anticipate, manage and personalize the needs of banksà ¢Ã¢â€š ¬Ã¢â€ž ¢ current and potential customers. CRM applications deliver many benefits across organizational processes and functions. It reshapes the workplace environment and influences the ways business being carried. Successful integration or adaption of CRM system in the banks may not be as easy as it looks. Every concept has limitations such as limitation of finance, resistance to change, government regulations, etc.; so does the CRM in banks. Banks can overcome many of the limitations by efficiency managing CRM and adapting some comprehensive CRM model along with effective CRM software. Managers play an important role to minimize risks. CRM manager is a key factor who can effectively manage the issues related to CRM. It is vital for banks that their CRM applications and systems are supported and controlled by qualified and experienced manager. Bringing together trained and professional staff, encouraging communication and coordination among them, promoting team working and instructing ways in quality service, are some of the duties managers have to perform in order for CRM to work efficiently and harvest benefits. The banks need CRM to survive as it is impossible nowadays not to focus upon the customer expectations. CRM is needed because of ever changing technology and highly competitive banking sector in India. The importance of CRM can be assessed by evaluating CRM that provides enhanced opportunities to use data and information to both understand customers and create value. The ultimate purpose of the CRM is to improve performance and to assess how well the bank needs are met by CRM adaption and implementation. 5.2. Conclusion The aim of this dissertation was to examine the importance of CRM for HDFC Bank. To achieve this aim, following objectives were set: To analyze the effectiveness and efficiency of CRM services provided by the HDFC Bank, to examine the effects of CRM on business performance and operational effectiveness and to evaluate the improvements in customer service due to it, to assess the awareness of the bank employees to the concept of CRM and its benefits for the organization, to determine the extent of customer satisfaction level by conducting interviews, distributing questionnaire and carrying out a survey in HDFC Bank, to gather relevant data and critically analyzing it using a vast variety of sources and research tools. The researcher believes that each and every objective has been achieved. The researcher applied most relevant research tools and applications to gather valid and reliable data. The data collected from secondary sources like books, latest journals and articles, websites, etc. has been critically analyzed by taking into account theories, concepts, arguments and debates on CRM and related issues by various academic scholars. The data collected by applying primary resources has been analyzed and presented in data analysis section. The researcher ensured that the data collected is valid and relates to literature review and aim and objectives of the dissertation. The results produced by the research provides information on how effectively HDFC Bank has managed to use CRM system and applications and how efficient it has been in applying CRM tools, processes and strategy. By incorporating CRM effectively, the bank has improved its performance as well as the performance of its employees. Bank profitability has increased and the so does the customer satisfaction. Changes produced by CRM are intense. CRM has helped the bank to access ideas and experiences from variety of sources. CRM applications have delivered many benefits across bank operations, organizational processes and functions. CRM has improved information and increased knowledge management. It helped to reduce costs of transaction and increased speed and reliability of transactions. CRM technology has also improved effective communications and service quality. In conclusion, CRM is important as it has positively influenced every business function which helped in improving the customer s ervice and relations. 5.3. Recommendations HDFC Bank has achieved almost all its objectives by introducing CRM technology and processes within the bank. They have received better response from employees and customers than expected. But they still lack in some areas such as cooperation and coordination, effective integration, and efficient use of latest technology. The bank can improve further by updating its CRM policies and procedures. After gathering data and doing analysis, the researcher noticed and considered few drawbacks in the bank system and policies and the approach it has taken. Following are some important recommendations: Recommendation 1: The bank can improve its performance and can better evaluate the results if it has set objectives. It must also ensure that the CRM has defined and documented objectives. It must be properly aligned to other banking systems and functions and must also be part of bank mission statement and bank strategies. By doing this, bank can make the working environment effective and promote flexibility. Recommendation 2: The results provide some information about the service provided by the employees to customers. Although the customers agree that the service has improved but few have complaints. Even the employees feel that service should be improved. The bank must concentrate on employee training and continuous development especially in the ever changing and constantly updating technological environment. The bank is committed in employee development but they must focus on soft skills areas of training. Employees must be taught how to effectively use and apply CRM technology to provide quality service to customers. Training and development can provide necessary skills and make employees, more experienced and competent. Recommendation 3: CRM is still developing stages in the bank. The management can show commitment by developing a personal bank strategy regarding the use of CRM system, processes, procedures, tools and CRM policies. The management need to focus on bank mission and, strategic vision and ethical stance when designing CRM strategy. Incorporating CRM related issues in strategic planning; the bank can increase the trust of all stakeholders and satisfy them that the bank is interested in their well-being. Recommendations 4: The bank can never ignore the environmental factors that may influence and negatively affect the CRM related decisions. The factors include social and cultural issues as the bank cannot adapt the CRM without taking into account the Indian environment and its requirements; legal and political issues, and other technological issues. Recommendation 5: By empowering employees and involving them in decision making process can increase their morale and satisfaction. They will feel more motivated and will work more effectively serving customers to the best of their abilities. They will enthusiastically learn the latest CRM technology and will apply it successfully. By providing them facilities to deal with customers queries will help the bank to improve the customer relationship management. Recommendation 6: Evaluation of the CRM requirements, its use and its effects can help identify whether it is working efficiently. It will also help fulfil CRM needs and will solve problems thus improving bank performance. There are many other recommendations that can be provided but the bank must focus on major issues first. Other recommendation may include 24/7 call centre where customers can contact for services, central database for employees to get all the information, providing feedback on the website, etc. 5.4. Future Agenda This dissertation identified a number of variables related to adaption and use of CRM in HDFC bank by the management. A number of limitations need to be noted regarding the present study. Although the researcher tried to cover each CRM related issue in detail but due to submission deadline of this research and other limitations, many targets were remained unachieved such as analyzing the effect of CRM on employees at different hierarchical levels and customers of different types like commercial and corporate. A similar study with extensive approach would allow a more detailed analysis. This research does not propose any new theory. The researcher adapted conservative approach to the dissertation and studied already available theories by analyzing the importance of CRM for an Indian Bank. This however, cannot represent the impact of CRM on Indian banks as many banks are still on CRM implementation phase and different banks have different environments. The current study was also unable to analyses the effect of environmental factors i.e. legal, political, social and other technological factors. Future researchers could take all these matters into consideration when carrying out their research. A number of possible future studies using the same experimental set up are apparent. This research has thrown up many questions in need of further investigation. One question for the future researches, which this study slightly touched, is the importance of Information and Communication Technology (ICT) which not only helps in effective adaption and use of CRM but it has its individual importance for employee and customer satisfaction. Further work can be carried out on the CRM models which can be adapted by companies specific to their requirements. 5.5. Reflective Report The reflection sheet is reported in informal format e.g. using à ¢Ã¢â€š ¬Ã‹Å"Ià ¢Ã¢â€š ¬Ã¢â€ž ¢ instead of the researcher. The research was a learning and development experience in which knowledge boundaries and parameters have been expanded. This dissertation taught me the value of time. I focused on one of the main contemporary issues and emphasised on the value and importance of CRM for Indian Bank. Learning outcomes through this study include critical analysis, assessment and evaluation of the literature and data collected. I have practically applied different research methods taught by the professors in university lectures. The practice helped me gain necessary knowledge of selecting, scrutinizing, testing and applying research tools and approaches. The main problems faced were limitation of time and finance, limited access to people and natural bias among the surveyed population but the skills and useful experience gained earlier helped me overcome or minimize most of the lim itations. Before the actual commencement of the research, I needed to understand what CRM was and why it was becoming important for modern banking environment. It was highly important to get knowledge of the ways it could be adapted and used in the business operations. I believe that I have managed to sort out all the research activities and have given appropriate time to each task individually by applying best available research tools. Most appropriate methods relevant to my research study have been selected to research real, relevant, valid and reliable data. I have managed to gain a clearer overview of the learning process. This dissertation helped me gain insight into my strengths and weakness and taught me how to use my strengths to overcome weaknesses, exploit opportunities and reduce threats and risks. Due to this project, I realized learning strategies that suit my personal needs. Also added to my experience is the capability in planning and overcoming learning difficulties. I understo od and do appreciated the importance of self-evaluation in the role of improving myself. I donà ¢Ã¢â€š ¬Ã¢â€ž ¢t think there is differently to be done next time as I consider myself proficient in carrying out a research project now, though I will keep on learning new methods and techniques. I honestly believe that I have performed to the best of my ability.

Essay on Holocaust Children - 2974 Words

Children of the Holocaust Advanced Composition/ ENGL 135 June 20, 2011 Alena Synjova once stated, â€Å" I’d like to go away alone where there are other, nicer people, somewhere into the far unknown, there, where no one kills another. Maybe more of us, a thousand strong, will reach this goal before too long† (Volavkovà ¡, 1994, p. 50). During the Holocaust, people craved opportunity to escape to a place where there were polite people and no one killed each other. The Holocaust affected everyone, ranging from the elderly to the young children, who were faced with horrific situations. They witnessed the death of the people around them and were forced to live under unmentionable conditions. The holocaust altered non-Jewish and Jewish†¦show more content†¦46). For this reason, the mentally retarted, physically handicapped, or mentally ill were targets, having been killed in gas chambers. Handicapped infants and small children were killed by an injection with a deadly dose of drugs or by starvation. The bodies were burned in cremato ries leading to more than 200,000 handicapped people murdered between 1940 and 1945 (Bachrach, 1994, p. 32). â€Å"The Jews were transported, either by trains or trucks to six camps; Poland, Chelmno, Treblinka, Sobibor, Belzec, Auschwitz-Birkenau, and Majdanek-Lublin. These camps were called extermination camps. The trips on the train took a few hours and sometimes it took days. The people were crammed into boxcars until there was no room for anyone to move. Freight cars had no seats, no bathroom facilities, and only slatted openings as windows, so inside it was dark, and the air reeked with the smell of bodies and human waste† (Bachrach, 1994, p. 48). Mendy Berger, a Holocaust survivor remembered the train ride and stated, â€Å"One hundred people standing in a locked railroad car, no food, no water, people dying, the smell of the dead, and we had no toilets. We did it right where we were standing, and we couldn’t move away from it† (Adler 1989, p. 67). Arthur Rubin, another Holocaust survivor recounts â€Å"children were crying for water, and mothers’ hearts were torn because they were unable to help them†¦..The train stopped at various stations. There were women standing near the railroad tracks withShow MoreRelatedChildren Of The Holocaust : Children1328 Words   |  6 PagesChildren of the Holocaust As the 1930’s came along, The Nazi’s set out a series of laws and regulations called ‘Nazi Laws’. One of the very first laws was ,†Laws against Overcrowding in German schools and universities†. This was a result of many children were looked down upon by Hitler and his Nazis as ‘racially inferior’. Letters from German Children to the editor of the Nazi tabloid Der Sturmer reveal a shameful potpourri Lettof and fanaticism against their Jewish classmates. The first punishmentRead More Children of the Holocaust Essay983 Words   |  4 Pagesdeliberate intention to kill children in numbers so great that there is no historical precedent for it.† (Lukas, 13 Kindle) About 1.5 million children were murdered by the Nazis during the Holocaust—one million being killed because they were Jews (ushmm.org) The Germans had a clearly defined goal of killing the Jewish children so that there would be no remnants of their race to reprodu ce, resulting in extinction. Not only were the children that were victimized in the Holocaust persecuted and murderedRead More Children of the Holocaust Essay1634 Words   |  7 PagesOver one million Jewish children died during the Holocaust. They were ripped out of their homes and taken away from their families, and stripped of their childhoods. Innocent lives were caught in a war that they were not able to stop. When Adolf Hitler came to power in 1933, he promised Germany that he would improve life their by getting rid of the one race that caused the problems, the Jews. Jews, including Jewish children, were sent to concentration camps, inspected, and if approved, were sentRead MoreThe Hidden Children Of The Holocaust1642 Words   |  7 PagesThe Holocaust is a very large topic with many subtopics within, which many people have never heard of. One in particular is the Hidden Children of the Holocaust. Like a majority of individuals, I never heard of this topic before, until I st arted my inquiry work. Hiding children during the holocaust was an effort to save thousands of children’s lives. The children were hidden in different ways, either with false identities, underground, and with or without their parents. The children with false identitiesRead MoreIs The Holocaust Over The Children Of The World?1078 Words   |  5 PagesIs the Holocaust over for the children of the world? The Holocaust was a dark time in human history during the reign of Hitler. Millions of Jews were killed by the Nazis. However, some people were still lucky enough to survive. One of these survivors, Leon Leyson, experienced the horrors of pure evil as a child. He lived to share his story, and today in America there are many programs and organizations dedicated to protecting children, but in other parts of the world children continue to experienceRead MoreThe Vulnerability of Children in the Era of the Holocaust942 Words   |  4 PagesChildren were especially vulnerable in the era of the Holocaust. The Nazis advocated killing children of â€Å"unwanted† or â€Å"dangerous† groups in accordance with their ideological views, either as part of the â€Å"racial struggle† or as a measure of preventative security. The Germans and their collaborators killed children both for these ideological reasons and in retaliation for real or alleged partisan attacks. The Germans and their collaborators killed as many as 1.5 million children, including over aRead MoreEssay on Jewish Children during the Holocaust1077 Words   |  5 Pagesit treats its children (Nelson Mandela). If this statement is considered true, then its fair to say that during times of the Holocaust, the German society was at an all time low. Children during the Holocaust did not have a carefree childhood, like they should have, but instead were placed under strenuous conditions. They had to go through being separated from all family and friends, being chosen the first to go to, and in most cases a permanent loss of family members. The Holocaust was undoubtedlyRead MoreEffects of War on Children: Comparing Experiences of Children During the Holocaust and Children Affected by the War on Terrorism1746 Words   |  7 Pageswith all wars that occurred in the past and present. This synopsis will focus on the effects of war on children and the different ways they survived through it. It will compare the children of the Holocaust and the children of the war on terrorism. War has a great effect on children and can harm them socially, mentally, and physically. Survival of the fittest differs vastly between these children and the wars they are going through. Terrorist groups are all over and have been around for a long timeRead MoreChildren During the Holocaust1306 Words   |  5 PagesThroughout the Holocaust, â€Å"the Nazis killed over 1.5 billion children† (Children during the Holocaust). Of these children, one million of them were Jewish. The Nazis had no good reason to kill them; they only killed these innocent children because Hitler did not care for their race. The Nazis, a forceful, merciless power led by Adolf Hitler brainwashed the country of Germany into believing that Jews and other races were awful. These children bravely fought persecution and avoided death by hidingRead MoreChildren Of The Holocaust Survivor Essay1384 Words   |  6 PagesAs children of the Holocaust survivor, Jacob in Fugitive Pieces by Anne Michael s novel haunted from his past from his memories of his parents and his beloved sister Bella. Growing up with Athos care, Jacob struggles to adapt to a new environment as a child with his memories of his parents still preserve into his mind and battling to make what might have happened to his sister Bella. As Jacob ponders on his past, his memories become stronger and save him that will eventually free him from pain and

Contemporary Issues in Management - 1171 Words

4) It is apparent that the only thing constant in business is change. Organizational change is often an overwhelming challenge for business leaders, managers and employees alike. The need for change may be the result of market shifts, economic environment, technology advancements or changing work force skill-set demands. Today Organizational change occurs for reasons that originate external to the organization (Chandler, 1996: Hannan Freeman, 1984), as well as internal to the organization (Baker 1990: Prechel 1994). Thus, External constraints, internal constraints, resource dependency and increasingly growing competitive markets force organizations to change in order to maximize economic potential. Although organizational†¦show more content†¦Basically social entrepreneurs usually start with small community based initiatives, targeting local issues; they tend to develop as an organization to have a global impact creating social value (Santos 2013). 5) Sometimes the term ethics and morals can be confused or used interchangeably. However, they have distinct differences in their definitions. Morals refer to some unwritten set of values that people use to assist with decision making and regulate behavior. On their contraire, ethics refers to something that’s written down to be used in a particular context (Francis, 1999). This would mean that research ethics are principles that researchers use to decide what is appropriate in a research study. Ethical Research is about doing what is right no matter what the consequence is. It is about upholding the rules and the moral standards. Academic research is built on honesty and trust. Society trusts that researchers will give honest results about whatever phenomenon at hand. This is why it is so important to exemplify ethical research as an author and academician. I will ensure my research is ethical by being conscious of assessment requirements, rules and regulation s set down by my university as well as by my fellow peers within the field of study. I have to remember when doing my project that participants have legal and moral rights and it is very important to uphold theShow MoreRelatedContemporary Issues in Management3255 Words   |  14 PagesContemporary Issues in Management ASB – 4426 Abhishek Roy Gollamudi abpc90 Contemporary Issues in Management: Business Ethics and Values Introduction Business Ethics and Values has this become a very high regarded issue in management. Changing demands, advancing technology and worldwide recession have added to the suppression of this issue and has forced management to maintain numbness towards business ethics and to exploit very possible opportunity disregarding the interests of employees and theRead MoreContemporary Management Issues9330 Words   |  38 Pagesspicer@pgrad.unimelb.edu.au Department of Management University of Melbourne Parkville, Vic 3010 Australia Chapter for Paradoxical New Directions in Organization and Management Theory. Edited by Stewart Clegg. Amsterdam: Benjamins. (Second Draft) July 2001 The problem of whether employee resistance is possible under corporate relations of power that target the very hearts and minds of workers has become an increasingly important issue in recent critical organization studies. WithRead MoreContemporary Issues in Management3920 Words   |  16 Pagesmaterial from the unit, critically evaluate how the passage relates to issues concerning the business activities of MNCs and the concept of ethical leadership. Having examined Machiavelli’s passage from the ‘prince’ I believe it may be applied within the field of change management. It is important that the ‘prince’ may be used as a metaphor for an individual or an organisation. The passage focuses on the effective management of change when merging into a new global market. Drawing attention toRead MoreContemporary Management Issues1920 Words   |  8 Pagesproducts from the right market, being cost-conscious at every stage and having efficient distribution. 2. HM does not have any factories of its own, but instead works with around 700 independent suppliers in primarily Asia and Europe. â€Å"OEM† is one of management way for HM. â€Å"OEM† Short for original equipment manufacturer .OEMs is manufacturers who resell another companys product under their own name and branding. (http://www.webopedia.com/TERM/O/OEM.html) HM sources clothes and other products from aboutRead MoreContemporary Management Issues1933 Words   |  8 Pagesfrom the right market, being cost-conscious at every stage and having efficient distribution. 2. HM does not have any factories of its own, but instead works with around 700 independent suppliers in primarily Asia and Europe. â€Å"OEM† is one of management way for HM. â€Å"OEM† Short for original equipment manufacturer .OEMs is manufacturers who resell another companys product under their own name and branding. (http://www.webopedia.com/TERM/O/OEM.html) HM sources clothes and other products from aboutRead MoreContemporary Issues in Financial Management3088 Words   |  12 Pagesï » ¿Contemporary Issues in Financial Management Table of Contents Introduction: 3 Contemporary financial management issues: 3 Mergers and acquisitions: 4 Leveraged buyout: 4 Hostile Takeover: 5 Global outsourcing: 5 Corporate governance: 5 Selected contemporary issue: 6 Company Background: 7 Financial strategy: 8 Impacts of acquisition on ethical issues: 9 Financial situation prior to acquisition: 10 Financial situation after the acquisition: 10 Successful management ofRead MoreContemporary Issues With Hotel Management3072 Words   |  13 Pages Contemporary issues with hotels Contents Introduction 1 Task 1: Explicit and implicit assumptions 1 Task 2: Challenges to the assumptions 3 Task 3: Research methodology and the challenge 3 Task 4: Data collection 4 Task 5: Interest of the groups 5 Task 6: Implications of the conclusion 5 Task 7: Impact of the results obtained from the hotel industry 5 Conclusion 6 References 6 Introduction The contemporary issues associated with the hotel management system have toRead MoreContemporary Issues On Public Management3046 Words   |  13 PagesComprehensive Exam in Public Administration id 2346 1 CONTEMPORARY ISSUES IN PUBLIC MANAGEMENT Select one example or issue from the public sectors of a major public policy. Explore in essay how that current policy problem in government is relevant to and then undercuts the quality of public service and the operation of key regime values and political character traits In his book Theories of the Policy Process (2007) Paul Sabatier described the public policymaking process as follows: â€Å"problems areRead MoreContemporary Issues in Management Accounting211377 Words   |  846 PagesContemporary Issues in Management Accounting This page intentionally left blank Contemporary Issues in Management Accounting Edited by ALNOOR BHIMANI 1 Great Clarendon Street, Oxford ox2 6dp Oxford University Press is a department of the University of Oxford. It furthers the University’s objective of excellence in research, scholarship, and education by publishing worldwide in Oxford New York Auckland Cape Town Dar es Salaam Hong Kong Karachi Kuala Lumpur Madrid Melbourne MexicoRead MoreContemporary Issues Of Hotel Management Essay2841 Words   |  12 PagesBX772102 CONTEMPORARY ISSUES IN HOTEL MANAGEMENT Hotel Brand Strategy Critique Article # 1 Sagar Sharma 1/2/2015 The critique of the article has been done to identify some assumptions that are being made by the authors, further challenging them and proving the point to be valid or not. â€Æ' Assumption 1. In the given article the authors have discussed about the effects of branding of a hotel on its existing and potential guests as well as the owners or management. In this assumption the authors

Genetically Modified Foods A Large Part Of Today s...

Genetically Modified Foods are a large part of today s market place: corn,soybean,cotton, etc.. And plenty more crops are genetically modified. These genetic modifications change from inserting genes that allows the use of certain herbicides to inserting animals genes to impart desirable traits. Many large companies and farmers believe that genetically modified foods result in the use of fewer chemicals and cheaper foods, and more stability for the farmers. Some people may not like genetically modified foods and treat it like it s a bad thing, but really don t know anything about it or how it works. In my opinion I am not against it. I actually learned a lot by doing this research paper, like that it is healthy for us and it doesn t harm us in any way. It has been estimated that 70% of all processed foods in the United States contains at least one genetically modified ingredient. So if it has been approved here in the United States, it should be healthy and safe which it is. It is not inherently risky to humans health. In 2004 Institute Of Medicine and National Research Council found that genetic engineering is not an inherently hazardous process, there has been no documents in humans. Even though the process is new and concerns about the safety, genetically modified foods must be judged on case by case basis by European Network Of Scientists For Social And Environmental Responsibility(ENSSER). So knowing this is better for all of us, because knowing that it isShow MoreRelatedImpact Of Gmo Production On Engineering1226 Words   |  5 PagesApplications, the world’s major manufacturers of GM crops are the United States, Argentina, Brazil, Canada, India and China. The latest findings show that the production of genetical ly modified crops has grown rapidly and after 12 years, 25 countries have assigned 125 million acres of their agricultural lands to raising genetically modified crops. A wide variety of economic, social and technical aspect of farming determine the adoption of agricultural technology. In 2006, GM crop manufacture also reachedRead MoreGenetically Modified Foods And Its Impact On The Agricultural Industry Worldwide1639 Words   |  7 PagesNorman Borlaug once said, â€Å"Man s survival, from the time of Adam and Eve until the invention of agriculture, must have been precarious because of his inability to ensure his food supply.† Throughout the history of mankind, the global food supply has become a battleground for politicians, scientists, and farmers. Genetically modified organisms, or GMOs, have been in the spotlight throughout much of the last four decades, offering a viable solution to world hunger issues. It is through genetic engineeringRead MoreGenetically Modified Org anisms ( Gmo ) Essay1737 Words   |  7 PagesGenetically Modified Organisms The genetically modified organisms (GMO) correspond to plants, animals as well as microorganisms whose DNA has been altered. They are also known as transgenic, genetically manipulated, or engineered organisms. The intentional incorporation or deletion of their genes is intended to introduce or modify some of its characteristics. Although this has been seen as a great advantage by many scientists and supporters of this technology, transgenic organisms suppose a dangerRead MoreGmo Vs. Non Gmo Research Essay1593 Words   |  7 Pagesthe world we live in today. Genetically modified food (GM Food) is the solution to this problem. The food produced on a massive scale, by direct or indirect involvement of genetically manipulated organisms is called genetically modified food. Controversy GM foods are in the middle of many controversial issues; primarily these are addressed by conflicts over the relative pros and cons of GM foods. Major biotech companies like ‘Monsanto and ‘Cargill are promoting GM foods by focusing only on theirRead MoreFarmers Getting Played A Monopoly Essay1719 Words   |  7 PagesPlayed When one company controls ninety-percent of a market, it is reasonable to open the doors to the possibility of a monopoly. This word is a board game to some, a boring econ principle to others, but a harsh reality for twenty-four million American farmers and their families. (Farmers Feed Us) Monsanto has taken control of the farming world and it is hitting farmers hard. The powerful company controls ninety-percent of the soybean market and much of other farming markers which are a lifelineRead MoreBenefits Of Genetically Modified Crops2392 Words   |  10 PagesGenetically Modified Crops Genetically modified crops are an incredibly important issue that everyone should be aware of since it is something we are exposed to at a daily basis. Genetically modified crops also known as GM crops or Biotech crops has been one of the most heated debates of issues within our society. The debate about the safety, concerns and disadvantages of GM crops have raged since the mid 1990 s but this is due to the lack of knowledge of the general public. Many people are unawareRead MoreGenetically Modified Foods And Animals1936 Words   |  8 PagesSpain English 4 12/8/14 Genetically Modified/ Bioengineered Foods and Animals Bioengineered Foods are taking over the market as a whole. What are Bioengineered Foods you may ask? Well, they are foods that have been genetically modified so that a gene from their DNA structure has been added, or taken away. Today, genetically modified/bioengineered foods are a very controversial issue. While some people think that bioengineered foods are just as healthy as traditionally grown foods, others think that theyRead MoreGenetically Modified Organisms And Its Effects On The World1945 Words   |  8 PagesGenetically modified organisms has been around for quite some time. It’s the ability to manipulate any organism and alter them in any way that you please. Which implies that crops can last longer during any weather and protect themselves against any pesticides or weeds. During 1954 James Watson and Francis Crick discovered the first DNA strand and described it to be a double helix which allowed genetic engineering to come into the spotlight. Monsanto a boomi ng agricultural company in the 1900’sRead MoreYorktown Case Analysis Essays1770 Words   |  8 Pagessaltwater fish can be purchased as pets in virtually any industrialized nation in the world (Broy, 2011). Yorktown Technologies commercializes a genetically modified fish called GloFish, which appear to glow in the dark (Mueller, 2010). GloFish are zebrafish that have been genetically modified with fluorescent colors. They are the first genetically modified animals to become publicly available as pets (Wikipedia, 2011). This case will provide a summary and analysis of Yorktown Technologies with anRead MoreFood Culture With High Fructose Corn Syrup Essay1704 Words   |  7 PagesDamaging the Food Culture with High Fructose Corn Syrup The food culture that we have are practices, beliefs, and ways we use to make food and consume it. Furthermore it is how we understand it as a whole and how it can shape us. Certain foods all around us can change people individually or as a group, the ability to express ourselves with food is endless.Some people may love the food for flavor , some may love to take pictures of the food and some people may just eat it because of their religion

Summer Writing Assignment †College Essay Free Essays

Among all the characters that I have encountered in books and movies, one persona stood out as the one I want to emulate the most. He went by the name Equality 7-2521 from the novel entitled â€Å"Anthem† by Ayn Rand. He appealed me the moment I read the book because he embodied what I am striving to be. We will write a custom essay sample on Summer Writing Assignment – College Essay or any similar topic only for you Order Now His personality was the quintessence of the qualities I needed to be successful. When I read the book, I was utterly impressed by his determination, intelligence, and more importantly, his perseverance as an individual. He has a significant influence on me and I find him a great source of inspiration to struggle harder in the complexities of life. It was during my sophomore year that I read the book â€Å"Anthem.† At that time, I was in a predicament over whether I should concentrate on schooling or finding a part-time job. The reason why I had such qualms was that even I made endeavors to complete my school works properly and attempted to attain high scores, my poor English proficiency derailed my plans. I was discouraged by the inconsistency of my efforts and grades printed in my report card. The course of things changed when I read â€Å"Anthem.† I was impressed by the characteristics of Equality 7-2521, the protagonist in the novel. The story was set in a fictional world which was dominated by collectivism. Equality 7-2521, who was seeking for self-identification, struggled in a society that rejected individualism in favor of collectivism. Equality 7-2521 discovered a tunnel where he began hiding regularly to conduct scientific experiments. Later on, he invented the light bulb and decided to share his device with the World Council of Scholars, even though he knew the way he came to discover electricity was illegal and sinful. Subsequently, Equality 7-2521’s presentation of the light bulb to the World Council of Scholars permanently severed him from society and forced him out on his own. The reason that the World Council of Scholars made this decision was that collectivism does not allow people to think or work individually but jointly. As a result, Equality 7-2521 was exiled yet he did not stop pursuing his goal. He kept studying in the woods and eventually discovered the meaning of individualism and the word â€Å"I.† As I read the book thoroughly, I realized the qualities that I must possess in order to achieve my ambitions. Equality 7-2521 had a worse situation than mine, but by the virtue of his positive attributes, he successfully pulled off his discovery. He believed in individualism and rejected the collectivist society around him. He was insightful, perseverant, truth-seeking, resolute, and intelligent. He was deeply curious and desired freedom to explore and think, and he was unafraid of the society of mindless drones around him. Equality 7-2521 represented the superiority of a singular intellect to the homogeneity of the masses, who could not think of themselves and were indistinguishable from one another. I plan to get a high score as well. I believe I could reach my aspirations if I exemplify the qualities that Equality 7-2521 had. The strong and firm character Equality 7-2521 held inspired me every time I face a dilemma in real life. Equality 7-2521’s story assured me that nothing is impossible and that I can succeed too even in my simple but unrelenting ways. Along this line, I should stay focused on my work and studies, and possibly make a significant improvement in the coming marking period. He had a tremendous impact on my personality, not only in my study habits, but also in the determination to confront difficulties. Whoever and whatever I am now, I owe it for the most part to Equality 7-2521 for transforming me to the kind of person I never imagined I could ever be. Life indeed is like a roller coaster with ups and downs to render it more interesting and breathtaking. And above all, what is of the essence is that Equality 7-2521 indirectly made me complete and unexpectedly happy as well. How to cite Summer Writing Assignment – College Essay, Essays

Role Of Leaders In Managing Performance And Accountability

Question: Using this weeks lesson and article by DeVany (click here) as a start, locate three research studies that deal with the management of people with their individual differences and diverse personalities. Use online, peer-reviewed journal research (case study research is preferred) to inform your writing. Summarize the takeaways from the articles that can support greater skill in managing people. Answer: Introduction The article discusses 15 roles that managers require in playing managing performance and accountability. Among other roles involves coach, team captain as well as cheerleader. It helps in providing advisable steps as well as approaches in considering by leaders in performance and accountability management. Addition to that, it includes undertaking of performance reviews as well as accountability management for usage of leadership and communication skills for conducting regular meetings (Reber, 2014). Role of Leaders in managing performance and accountability The above article is written by Chris DeVany focusing on connecting data for managing performance (DeVany, 2013). At the time of managing performance as well as accountability, most of the front-line managers take various roles for interacting with people. Managers require playing large variety of roles like coaching, parenting, resource allocator as well as detective and gladiator for future analysis purpose. Modeling behavior involves closeness relationship behind managing performance as well as ensuring accountability for helping in increasing the level of performance. Leaders should be effective spokesperson for managing performance and ensuring accountability for future analysis purpose (Christensen et al., 2014). Managers should be identifying the underlying problems as well as determining causes with effective solutions at the same time. The main role of negotiator is to ask for manager guidance as well as resolving conflicts in the upcoming years. Parenting guidance asks for managers for asking extreme support for supporting as well as nurturing employees. Conclusion At the end of the study, it is easy to gather facts on leaders role in performance management and accountability attributes. The above analysis helps in understanding that leaders are good fortuneteller who projects trends as well as recommend the best course of future action. . This study deals with discussion on matters relating to managing performance as well as accountability. All leaders can be efficient managers but not all managers can be a leader. The previous statement proves that leaders possess the require skills and knowledge that particular business organization requires for dealing its activities in the most appropriate way. Reference List Christensen, L. J., Mackey, A., Whetten, D. (2014). Taking responsibility for corporate social responsibility: The role of leaders in creating, implementing, sustaining, or avoiding socially responsible firm behaviors. The Academy of Management Perspectives, 28(2), 164-178. DeVany, C. (2013) 15 Roles Leaders Play to Manage Performance and Accountability. THE PUBLIC MANAGER, pp, 31-33 Reber, B. H. (2014). STRATEGIES AND TACTICS LEADERS USE TO MANAGE ISSUES. Public Relations Leaders as Sensemakers: A Global Study of Leadership in Public Relations and Communication Management, 80.

Strategic Management Business Evaluation Approach

Question: Describe about the Strategic Management for Business Evaluation Approach. Answer: Introduction Strategic management is an approach to evaluate, implement as well as formulate managerial decisions in such a way that the organizations can be able to achieve its goals and objectives. In this paper, strategic management of Tesco has been analyzed. Tesco is the largest food retailers in the world with around 2318 stores. This essay represents the discussion about the theoretical concepts of strategic management. With the help of theories of strategic management the managerial decision of Tesco can be evaluated in the essay. Strategic management of Tesco Strategic management is an approach to formulate, implement and evaluate managerial decisions in such a way that the firm can accomplish their business successfully as well as fulfill their aims and objectives (Sadler, 2003). This approach is quite effective in dealing with the huge range of factors which affects the ability of the industry to develop. This approach improves the preparation for unexpected internal demands. It contains strategic formulation, strategic implementation as well as environmental scanning; internally, and externally. This is an approach which concentrates on production, marketing, computer information system, finance and management for achieving organizational goals (Saltzer Kaashoek, 2009). As for example when Tesco begins its business, the management of Tesco set their aims and goals as well as numerous kinds of methods to accomplish all goals (Commodities, 2009). So, strategic management is the approach used by Tesco for achieving its objectives. Tesco is the largest retailer company in the UK, and second largest in the world. This company has more than 2318 stores in around 14 countries and employing over 326000 people. It also offers online services via its subsidiary. The motives of this company are to provide technical as well as superior representations (Jeyarathnam, 2008). The company adds value to its goods and services as well as adds value to its customers by offering an attractive and effective solution to their customers procurement and customers design. This organization provides employment opportunities to numerous individuals at a different level. PESTEL analysis of Tesco For evaluating the managerial decisions and competitive advantage of the firm, there are mainly six forces which Tesco responses in order to influence its managerial decisions (Carroll, 2004). Such forces contain political, economic, social, technological, environmental, and legal factors. Political forces As Tesco operates globally with various stores around the world, the firms performance is quite influenced politically as well as by the authorities conditions because every nation has its own rules and regulations (Talen, 2012). For the employment authorization, the authority influences retailers to offer a combination of job opportunities from locally based jobs to highly skilled. Tesco understands that retailing has a huge effect on jobs and people, so for this, the company recruits good amount of citizens in their stores (Yksel, 2012). The political forces influence the specified company to recruit individuals for job opportunities. The examination of political factors has enhanced the organizations profits as it led the company to understand the taxation policies of foreign lands, which has its influence on the operations of the business. Economic forces Economic forces influence Tesco in terms of profits, demands, prices and costs. The high unemployment level is one of the most influential factors on the economy because it reduces the operational demand for various products, unfavorably impacting the demand need to manufacture products (Eriksson, 2010). The recent economic growth has an impact on the purchasing power of buyers which reduces the amount of sales made by Tesco. Moreover, the income level in the UK is relatively inadequate which makes few individuals fail to afford the goods provided by the organization. Social forces There is a quite powerful demographic force in the world as well as local markets. In this, population growth is one of the significant and interesting forces for the marketers in towns, cities etc. Growing population does not create capable markets for the manufactured commodities (Salazar Sawyer, 2007). Apart from population growth, location is another most significant factor which is determined by the marketers because many purchasers are identified in the urban location in comparison to rural location. So, Tesco layouts are strategically located in areas where capable purchasers are strongly targeted. Technological forces In the world of business competition, product and service standardization, as well as their quality, is more preferable by the consumers and those companies gain most consumers. Here, standardization of products or services is improved by technological advancements and Tesco is doing the same (Kash Rycroft, 2002). The speed of technology is quite rapid that the employees of the company are able to learn technological innovations for improving their performance in the organizations. Innovation is quite influential in Tesco which has helped the industry in order to improve its competitive advantage in the entire globe. Environmental force There has been growing campaigns on environmental preservation in the whole world and therefore there are also many organizations are aimed to preserve the environment, as much pollution hazardous to the environment is done by the organizational industries. In order to maintain as well as preserve the environment, Tesco utilizes licensed waste disposal services (Bortman, 2003). The customers are also quite aware of the effects of polluted environment so they purchase goods which have been manufactured by environmental friendly matters. Legal forces In the UK there is competitive legislation which is formed under the Competition Act 1998; this impacts over the behaviors of industries in the country because there is a performance in that they have to compete. It is a demand for the entire industries in the nation in order to stand with the legislation and here Tesco is also included (Verloop, 2013). Tesco actually deals with selling drinks and foods so the company has to stand with the Health and Safety Laws in the nation. SWOT Analysis of Tesco SWOT analysis signifies the internal and external strength of any organizations by observing its strengths, weakness, opportunities and threats; Tesco is also utilizing this analysis for observing its strengths, weakness, opportunities and threats which are as follows: Strengths Tesco is majorly operating numerous stores in the entire world, which help it to begin operating in the global markets in order to gain maximum numbers of consumers (SWOT analysis, 2008). Tesco currently involved in advertising its goods online where its consumers are able to know about products as well as buy it online. The goods produced by Tesco are of the high standard which eventually attracts the maximum numbers of consumers (Joekes Evans, 2008). There also has been modification where Tesco provides clothing as well as food and drinks products which help the organization in order to compete with its competitors. Weakness For distributing the products or services Tesco utilizes much fossil fuel mainly in transporting networking as it is not entirely formed to have shops in every country of the world (Arnould, Price, Zinkhan, 2004). Moreover, Tesco only aims in developed countries by excluding underdeveloped and developing countries which form capable consumers for their goods. Opportunities The current innovation and advancement in technology provide Tesco quite an excellent opportunity for utilizing internet connection for selling its goods. The internet is the maximum utilized technology in Tesco as it is able to gain numerous consumers even in locations where there are no shops (Young, 2002). There is also an opportunity for establishing alliance suppliers for reducing distribution as well as production cost. Associations are more required in the company as it shares resources by do not fear about the risk of any development and growth. Threats Every organization concerned about taxes in the country, same as Tesco concerned about taxes in UK and countries where it has its stores. There is stiff competition in the retailing market which is pretended by Tesco competitors like ASDA and Sainsbury. So innovation and advancement is other organization is a threat for Tesco. Three Strategic Management Theories by Tesco Strategic management theory is basically a system of ideas for explaining the origin, principles, evolution of strategic management. In todays competitive world, strategic management is of great importance for any firm in order to come up with a strategy which will evaluate organizations managerial decisions as well as the competitive advantage (Durand, 2006). The strategic management theory usually is said as the system of ideas that intends to summarize the principles and procedures of strategic management. The three theoretical concept of Strategic Management about Tesco are as follows: Contingency Theory The contingency theory induces the ideas that there are no approaches for managing organizations. It is based on the favorability. Tesco has specified their leaders work in their style of preference so that they can become more effective in their respective field or department (Donaldson, 2001). Though this approach has criticized the theoretical base, it remains as an important point in the contribution of understanding effective and efficient leadership. Tesco contingency approach has leaded the company to strengthen their communication between subordinate ability and leadership style. Profit maximization and strategic based theory This theory or concept is based on the belief that business enterprise aims to maximize their profit for long terms and also to gain a competitive advantage over other same businesses. The perspective of industrial companies is based on this theory as the concept examines the company external market situation for attaining sustainable competitive advantage. Here the maximum profits which are surplus above the average cost of production. Tesco has appropriately chosen both its inputs and outputs for attaining the objective of realizing maximum economic profit. The specified company applies Maslows theory of motivation to internally encourage their staffs and employees so that it can achieve its desired sales and profits. Resource-based Theory The resource-based theory is a technique to analyze the resources as an important aspect of the superior performance of the company. The VRIO attributes of Tesco has led it to gain sustainable competitive advantage. According to this theory, the attributes of this enables a company to examine the sources of competitive advantage within it, rather than looking at the competitive environment for it. The theory relies on the tangible and intangible resources of the company and must be heterogeneous and immobile. All these resources should also have VRIO attributes to provide competitive advantage. The resource-based theory of strategic management of Tesco, has led it to give resources the major role in order to achieve developed organizational performance. Tesco has valuable and rare resources that help it to gain competitive advantage. How theoretical concepts of strategic management influence managerial practices in Tesco A well-organized strategic plan increases the performance, decision-making process, and changes in the business and also contributes in the strategic direction of the company. For the formal managerial process, strategic plan includes the order of analytical procedures to express a planned strategy. It also brings into line the main objectives, planning, and policies and the allocation of resources to attain organizational goals. The strategic management of Tesco has led the decision makers of the company to advance their respective roles. They are told to must perform some duties of a ceremonial nature to have smooth functioning in the procedures of the organization. This responsibility has also led the managers to involve their leadership directly in order to encompass a relationship with subordinates by providing them encouragement. The strategic management has also influenced the managers to create contacts inside as well as outside of the organization with wide range of peoples. Recommendations that would enhance Strategic Management of Tesco For a business enterprise, the most important thing to achieve successful performance is the understanding of their performance and their competitors, and this could only be done by an appropriate strategic management. Though the strategic plan of Tesco are quite good, there are still many left where the company could focus for improving their strategic plan. The company should structure their planning sessions to reflect and examine their desired or planned contribution level. The company should also create a specific agenda to manage their time frame. It should also target its annual budget process to drive alignment of its key strategic initiatives. The management of the company should also monitor their procedures and commitment towards the customers in defined periodic intervals. The head administrators of the company shall also recruit high-potential employees and assigned them to each team before the work starts. The specified company should also incorporate their views of the ir customers so that they can enhance their customer service management. The departmental managers of the Tesco should start their planning process by deliberately identifying their strategic issues to have a great impact on the result in the future. Developing an effective strategic planning that suits the process of the organization will drive the best from it. Conclusion It has been concluded in this paper that Tesco uses PESTEL, SWOT analysis for evaluating influential managerial decisions. The firm also applied various strategic theories to encourage its managerial decisions. For achieving a maximum field in competition than its rivals, Tesco needs to improve the management to get sure about entire stores that it is well managed or not, so that standard services provided to their customers. The organization need to influence their employees advancement for competing with other organization. Tesco should also enhance its store population by establishing new layout in different nations to attain maximum consumers. References Arnould, E., Price, L., Zinkhan, G. (2004). Consumers. Boston: McGraw-Hill/Irwin. Bortman, M. (2003). Environmental encyclopedia. Detroit: Gale. Commodities. (2009). [Mosman]. Carroll, K. (2004). 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