The Chinese Miracle Essay Example for Free

The Chinese Miracle Essay Many developing countries have sought rapid and sustained economic growth, but few have encountered China’s success. What are the key explanatory factors accounting for the so-called â€Å"Chinese miracle† of the past three decades? Introduction The landscape and the economy of China has extremely changed and developed for thirty years. The â€Å"Chinese miracle† as we called is a really interesting topic such no one country had known a lightning economic ascent as China. Several factors explain that rise to power but I think it is better to talk about almost entirely a few of them instead of name ten factors and develop them during only some sentences. That’s why I have chosen to develop three elements for this essay which are, in my opinion, the main key factors explaining the potential ascension of the Chinese economy of the past three decades. Of course, for this subject, we have to talk about the Reform and Opening up of 1978 without which China would not be the second world economic power nowadays. Given that it is an essay of a few pages, I will develop a few aspects and not all the elements of this economic reforms’ program. China’s Reform and Opening up In 1978, thanks to Deng Xiaoping who led the Communist Party of China, China knew the world’s biggest economic reform of the nineteenth century. This reform is the most important key factor which can explain the so-called â€Å"Chinese Miracle†. It provides the country an open-minded economy on the world. The reform and opening up took place in two steps. Firstly, in the first ten years from 1978, the reform involved stopping collectivize of agriculture and doing the opposite, the opening up for the foreign investments and to allow businessmen to start up business. Secondly, from the end of 1980s, it entailed privatization of companies and contracting out of a lot state-owned industry. Although state monopolies in sectors such as banking and petroleum remained, the economic reform brought lifting of price controls, protectionist policies and regulations. Thanks to this economic reform which is the largest, foreigners and also overseas Chinese began to invest in China. During the past 30 years, the investment range of overseas Chinese has developed from labor-intensive to capital or technology-intensive industries and has expanded from the hometowns of overseas Chinese to western China via the coastal areas, the inland and central, eventually leading to the all-round opening-up of China. Overseas Chinese businessmen and their enterprises have made a huge contribution to the expansion of Made in China products all over the world. At present, investing in China has become a trend for overseas Chinese. Although statistics are not complete, overseas Chinese and compatriots from Hong Kong and Macao who have found enterprises represent about 70% of the total of overseas-funded enterprises in China. In the past thirty years, they have donated billions of yuan to Chinese public services, to set up thousands of middle and primary schools. They also donated vehicles, medical equipment, motorcycles, nylon cloth, fertilizers, chemical fibers, refrigerators and agricultural machines. The return of many overseas Chinese directly changed the daily lives of ordinary Chinese people at that time by means of televisions, washing machines, sewing machines and radios which were scarce items. When we notice all the capital, the investments and donations which have been brought for three decades by the overseas Chinese and the foreigners, we can say that without the Reform and Opening up which gather a lot of economic reforms, the economy and quality of the life in China would not be what it is now. Population, production costs and way of life in China According to me, ones of the most important factors which can explain the surprising and rapid growth of China are the population in China, the cost of living and the way of life of Chinese people. Although some of countries in Europe enjoyed a fast growth decades ago, no one benefited from a growth with two numerals during several years like China. One of the reasons is the population in China which exceed 1. 300. 000. 000 persons, which means that more than one person out of five on the Earth is Chinese. With the biggest population of the world, it is not surprising that China is one of the biggest economic world-power because the country disposes of a huge workforce. Although having a big population for a country bring it to be a big economic power in the world like the United States, France and Russia, it is not enough for a country to establish itself as the first worldwide producer in a lot of different sectors. Indeed, China can base its economy on its population but especially on its cost of living therefore on the production costs. The cost of living is the biggest known reason of the economic success of China since we had known the globalization because all the production costs for the companies are cheaper than in Europe and the United States. Since our world economy entered in the globalization, almost of the companies from the secondary sector (in contrast with the primary and the tertiary sector) had begun to produce their goods or some pieces of their goods in China. Worldwide companies except non-profit-making organizations and a few ones have as goal to make profits. So, since China has opened its borders to foreign countries to doing business with them three decades ago, multinational but also small and medium-sized firms took advantage of this great opportunity to outsource their factory in order to reduce their production costs substantially and so to make more profits. However, it’s also the way of life, the culture of the Chinese people which contribute to make this kind of large-scaled producing system possible. Chinese people have a different consideration about their job, their work more and they have less leisure time than European people. They work hard, they usually finish their workday at 8 pm and they have fewer days off than in Europe or the United States. They consider the job as emancipating, an opportunity to socially go up. Of course, it is the case for the graduated Chinese who went at school and university and not for the Chinese who work in the toys or textile factories for example. It is easy for Chinese companies or foreign companies like Foxconn to find workforce like this second part of workers whose agree to work more than ten hours per day in hard working conditions without a good salary because they don’t have work in their village and also in order to bring back money at home to pay the school of their children. In my opinion, these three factors mixed together come to one of the most important reason that China imposes itself as regards world economic power. For a few years, China is the factory of the world. Billions of goods come from the factories of China and most of the biggest factories in the world are located there. Nowadays, the result is so that the Chinese industry carries weight in the world economy. China is the first producer of the toys sector, the shoes sector, the textile sector, the household electrical goods and many more thanks to its huge workforce. The monetary policy of China The second key explanatory factor is the monetary policy of the Chinese government. If China was able to establish itself as nowadays the second economic world-power, it is mostly thanks to its substantial exportations. In fact, we can easily understand that the rate of exchange of the Chinese currency, the Yuan or RenMinBi, play an important part to promote or not the exportations of the country. That’s why for several years, the Chinese government has chosen to devaluate its currency in order to boost its exportations which make for China to maintain a strong rhythm of growth. When we look at the recent history of the RenMinBi, we notice that since 21th July 2005, a nearly-fixed parity vis-a-vis the U. S. Dollar was organized. However, starting from that date the authorities decided to index the Yuan to a basket of currencies and a devaluation of 2% of the Yuan was also decided in parallel vis-a-vis the U. S. Dollar. Facing the American pressure, Beijing agreed to revalue the Yuan little by little until it will be again index to the dollar by a fixed parity in 2008. Since 2008, the Yuan has not evolved weighty in the exchange rate market. For three-four years, we see arguments from Europe and the United States about the Yuan’s exchange rate. According to them, Beijing often maintains its currency to a low artificially level. However, not long ago, even if China wants to keep the control of its currency and not to be dictated by Europe, United States or the IMF about the exchange rate of the Yuan, that one was revalued by its government. So, we can notice that the low rate of the Yuan has greatly favored the Chinese companies compared to European and American firms for many years. Today, the Yuan’s rate has already begun to increase in relation to five years ago. Some experts say that the Yuan is undervalued by more than 20%. But even if the Chinese economy is based on the exportations for three decades, the re-value of the RenMinBi will give again some purchasing power for the households, restart the consumption and will bring China to be less dependent on its overseas trade. Conclusion In conclusion, we can notice that the â€Å"Chinese miracle† has been possible for the most part thanks to the Reform and Opening up in 1978. However, this single reform program doesn’t suffice to explain the fast economic growth of China. Factors as the production costs, the huge population of the country, the culture of the work and the devaluation of the Yuan are key factors which have led China to be the second, and first soon, economic world-power. For three decades by means of these mixed factors, China has greatly improved the state of its economy, the quality of the life of its population, its infrastructure, its education system, etc. Moreover, thanks to the Reform and Opening up in 1978, Chinese people became more open-minded of others cultures. They could meet foreigners and started doing business with them. We can also notice that China is indebted to overseas Chinese who has brought a lot for their country with their bountiful donations. However, although the life’s quality of the Chinese people is better than thirty years ago, we don’t have to forget that in China the Gini coefficient is the highest and so the contribution inequalities are the biggest. One of the next challenges of the Chinese government is to watch out for what more Chinese can take advantage of the good health of the economy. Bibliography Websites : * http://www. china. org. cn/china/reform-opening-up/2008-12/19/content_16978369_2. htm * http://www. china. org. cn/china/reform-opening-up/2008-10/15/content_16645211. htm * http://www. china. org. cn/china/reform-opening-up/2008-12/10/content_16926213. htm * http://www. china. org. cn/international/2008-06/20/content_15859984. htm * http://www.china. org. cn/china/reform-opening-up/2008-11/25/content_16822741. htm * http://www. bbc. co. uk/news/world-asia-china-20069627 * http://www. nytimes. com/2012/11/09/opinion/china-should-reform-and-open-up. html * http://www. lefigaro. fr/tauxetdevises/2010/04/10/04004-20100410ARTFIG00642-la-chine-et-les-etats-unis-debattent-du-yuan-. php * http://www. lefigaro. fr/tauxetdevises/2010/09/29/04004-20100929ARTFIG00722-yuan-les-deputes-americains-veulent-sanctionner-la-chine. php * http://www. lefigaro. fr/tauxetdevises/2010/03/30/04004-20100330ARTFIG00772-pekin-se-prepare-a-reevaluer-sa-monnaie-. php * http://www. lefigaro. fr/tauxetdevises/2010/05/19/04004-20100519ARTFIG00599-baisse-de-l-euro-pekin-hesite-a-reevaluer-le-yuan. php * http://www. thedailybeast. com/newsweek/2012/07/08/the-end-of-china-s-economic-miracle. html * http://www. guardian. co. uk/world/2004/nov/08/china. jamesmeek Videos: * http://www. china. org. cn/video/2008-11/27/content_16838090. htm * http://www. youtube. com/watch? v=SSuUM3Abe00.

Change Management and Communication Plan Essay Example for Free

Change Management and Communication Plan Essay Riordan Manufacturing is doing big things to improve their organization. They have decided to change how the organization manages their customer management system. The company has not had any formal system for managing their customer information and has in the past left this up to each individual employee. This new system will incorporate the use of one customer management system that will be accessed by all employees. Our team will be assisting with this process and will ensure that our plan will make Riordan more effective. During this process we will need to have several planning meetings to assist with the implementation of this new process and the use of our new customer management system. We as a team will ensure that all steps are carefully planned and well presented to the employees. Our number one goal is to make the company more effective. The topics we will need to address include the organizational structure to include chain of command, organizational culture, and the strategy we will use to make these changes effective. Their current method of management is the chain of command. This allows each division to have a supervisor and many levels between the bottom and the top. The level of supervision includes supervisors, middle managers, and executive managers. The informal power structure is a team-oriented working environment. Assignments are currently being completed by appropriate communication among the employees. The lack of focus on individual success is often overlooked. Decentralization can also be a disadvantage as it can lead to control problems for management. This structure can generally increase conflict among employees. The most effective organizational structure that would benefit Riordan would include self-directed teams. Riordan’s team environment would be excellent for  self-directed teams. Self-directed teams can offer several advantages. The largest factor we considered is motivating the employees. This will allow them the highest level of job satisfactory by boosting morale and giving them meaningful positions. Employees that have high levels of job satisfactory are much more engaged in supporting their organization. An employee’s behavior is influenced by their company’s culture. The organizational culture at Riordan includes fairness, dedication, teamwork, performance evaluations and benefits accommodations. Everything the company offers is factored into the culture. These influence an employee’s motivation and will help an employee grow and gain additional experience and knowledge. Some potential influences include career advancement, job security which in return will lead to loyal employees, excellent customer service provided by the employees, and compensation satisfaction. One of the most difficult challenges a company is tasked with is implementing change. As long as a company knows and understands how to effectively implement change, the less resistance they will receive. Reasons that employees resist change include: lack of awareness to the change, fear of being out of comfort zone, fear of not understanding the reasons for change, personal feelings towards the change, conflicts, and fear for lack of job security. Management should always be prepared to effectively deal and handle the resistance most employees will impose. Some strategies Riordan Company should follow include; effective communication of any ideas and implementation of change prior to the change date. Management should always be mindful of employee concerns and work on different training methods to help them cope with any changes that will be occurring. Every employee should be given the opportunity to provide feedback regarding the changes. Another strategy is to expect the resistance when implementation takes place. The best way to handle that is to address it formally and identify the root causes of the change as well as appoint the right leaders to effectively communicate and address any potential issues. As far as the implementation of the new system goes, the next 12 months will be critical. A plan will help to dictate the direction in which the plan will take the business. Providing a detailed step-by-step instruction manual, so to speak, will be the best chance for the success of the implementation. It may take a bit longer, but implementing the plan only one step at a time will make for  an effortless transaction from one norm to the next. This will also allow for feedback of the employees without aggravation, which will also give them time for significant improvements. At first, the employees will likely be confused by the change. It will take time to adapt to the new norm before an evaluation of the success can be determined. Training will be of great importance. Having a pre-knowledge of the upcoming events will prepare the employees for the inevitable. We know that the change is coming and so should they. The customer base is the best way to know for sure if the plan is effective. Most businesses only exist as a service to a customer; therefore, training the employees on the right and wrong reactions to the customers and the service that they r eceive will be the primary goal for Riordan Manufacturing. This will give the sense that the company is making the necessary changes to better serve them. The Communication Plan Riordan Manufacturing communication plan will consist of a formal email being sent to all managers in charge of specific sectors about the Change Management Plan with a follow up of sector face-to-face meetings. A formal email being sent out will ensure the message being delivered in a timely fashion to prepare the managers for the change. It will also give them more time to prepare a face-to-face meeting with all sector employees before the change is made. The face-to-face meeting will ensure the employees that Riordan Manufacture messages about any change that could affect them are being relayed on a more personable level. This channel will also allow manager to receive feedback from employees whether it is questions or concerns. A barrier that could be a problem for the managers trying to deliver this Change Management Plan is Communication Apprehension. This kind of barrier takes place when an individual gets extremely nervous, anxious, or even tense when speaking or trying to send any type of communication to others. Since the managers are going to have individual face-to-face meeting with their group of employees, we hope that each manager will have the courage to speak up effectively and accurately about the change. To ensure that there has been effective communication to all employees the managers who delivered  the messages will have to send a report back about the reactions shared by the employees during the meeting. Riordan Manufacturing is excited to announce a new customer management system. This new system will be accessible by all employees and will allow us to provide the most effective customer service possible. During the next few weeks, Department Managers will have face to face meetings with all staff members. Team A will provide an overview of the new system and will allow the opportunity for employees to address concerns and ask questions. Please take this time and offer feedback, your feedback and concerns are vital to the success of this organization. Our number one goal is to deliver the best customer service to both internal and external customers. Together we can make this change a success. In conclusion communication and planning are the two most important things when implementing change within any organization. Employees need to know that their input is appreciated and heard. Allowing managers and employees the opportunity to provide feedback will increase morale and will maintain high levels of job satisfaction. Riordan Manufacturing has taken the necessary steps to implement the new customer management system with proper planning and communication.

Business Essays Marketing Strategies HSBC

Business Essays Marketing Strategies HSBC HSBC Marketing Strategies One of the largest banking and financial services organisation in the world is known as the HSBC Group. It has established businesses in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. In 1991, HSBC holdings were incorporated in England, with its head office based in London. In 1999, the company established its international brand name, which ensured that the Groups corporate symbol became a familiar sight all across the world. HSBC differentiates its brand name from those of its competitors by describing the unique characteristics which distinguish HSBC, namely being, The worlds local bank. As at 31st December 2004, its total asset was valued at  £660 billion. It has over 9,800 offices worldwide. It employs over 253, 000 people, across different countries and territories. Its shares are held by around 200,000 people in some 100 countries and territories. The companys shares are also traded on most of the worlds renowned stock exchanges, namely, London, P aris, New York, and Bermuda stock exchanges respectively. One of the major tools it uses for functionality on a worldwide scale is the companys use of information technology. Its e-business channels include the internet, PC banking, interactive TV, and telephone banking. It maintains its own private network (intranet and extranet), in which HSBCs websites attracted 900 million visits in 2004. The HSBC group provides a comprehensive range of financial services namely: Personal Financial Services: It has over 100 million personal consumers worldwide (including Consumer Finance customers). It provides a full range of personal finance services, including current and savings accounts, mortgages, insurance, loans, credit cards, pensions, and investment services. It is one of the worlds top ten issuers of credit cards. Consumer Finance: The Companys Finance Corporations consumer finance business ensures point of sale credit to consumers, and lends money and provides related services to meet the financial needs of everyday people. In 2004, it completed the integration of its former household businesses. Commercial Banking: HSBC is a leading provider of financial services to small, medium-sized and middle market enterprises. The group has over two million such customers, including sole proprietors, partnerships, clubs, and associations, incorporated businesses and publicly quoted companies. In the UK, 209 Commercial Centre were launched to provide improved relationship management for higher value small-medium-sized enterprise customers, while in Hong Kong, Business Banking Centres, were expanded to provide a one-stop service. Corporate Investment Banking and Markets: Tailored financial services are provided to corporate and financial clients. Business lines include Global Markets, Corporate and Institutional Banking, Global Transaction Banking, and Global Investment Banking. Global Markets includes foreign exchange, fixed income, derivatives, equities, metals trade, and other trading businesses. Corporate and Institutional Banking covers relationship management and lending activities. Global Transaction Banking includes payment and cash management, trade services, supply chain, securities services, and wholesale banknotes businesses. Global Investment Banking involves investment banking advisory, and investment banking financing activities. Private Banking: HSBC is one of the worlds top private banking businesses, providing financial services to high net worth individual and families in 70 different locations. HISTORY OF THE HONGKONG AND SHANGHAI BANKING CORPORATION The HSBC group evolved from The Hong Kong and Shanghai Banking Corporation Limited, which was founded in 1865 in Hong Kong with offices in Shanghai, London, and an agency in San Francisco, USA. The company expanded primarily through already established offices in the banks name until the mid 1950s when it began to create or acquire subsidiaries. The following are some of the key transitions in the Groups growth and history since 1959. In 1959, HSBC acquired the British Bank of the Middle East formerly known as the Imperial Bank of Persia. In 1965, it acquired a majority shareholding of the Hang Seng Bank Limited. In 1971, the British Bank of the Middle East acquired a minority stake of 20% in the Cyprus Popular Bank Limited, which currently trades as the Laiki Group. In 1972, Midland Bank acquired a shareholding in UBAF Bank Limited (now known as British Arab Commercial Bank Limited). In 1978, the Saudi British Bank is established under local control to take over the British Bank of the Middle Easts branches in Saudi Arabia. In 1980, it acquired 51% of New York States Marine Midland Bank (now known as HSBC Bank USA). At the same time Midland acquired a controlling interest leading German private bank, Trinkaus and Burkhardt (now known as HSBC Trinkaus Burkhardt KGaA). In 1981, HSBC established a branch in Vancouver, Canada. In the same year the Group acquired a controlling interest in Equator Holdings Limited, wh ich was a merchant bank engaged in trade finance in sub-Saharan Africa. In 1982, Egyptian British Bank S.A.E. is formed, with the HSBC group holding a 40% stake. In 1983, Marine Midland Bank acquired Carroll McEntee and McGinley (now HSBC securities (USA) inc.), a New York based primary dealer in US government securities. In 1986, HSBC Australia was established. In 1987, it acquired the remaining shares of Marine Midland and a 14.9% equity interest in Midland Bank (now HSBC Bank Plc). In 1991, HSBC Holdings was established (as mentioned previously); its shares were traded for the first time in London and Hong Kong stock exchanges. In 1992, it purchased the remaining equity stake in Midland Bank. In 1993, it moved its head office to London. In 1994, HSBC Malaysia was established. In 1997, the group established a subsidiary in Brazil, Banco HSBC Bamerindus S.A., and acquired Roberts S.A. de Inversiones in Argentina, HSBC Brazil, and HSBC Argentina, respectively. In 1999, shares of HSBC began trading on a third stock exchange, New York. In the same year it acquired, Republic New York Corporation, which was then integrated into HSBC USA Inc and its sister company Safra Republic holdings S.A. (now known as HSBC Republic Holdings Luxembourg). At the same time Midland acquired a 70.03% stake in Mid-Med Bank Plc (now HSBC Bank Malta Plc.), the biggest commercial bank in Malta. In 2000, HSBC acquired CCF, one of the largest Banks in France. Its shares were also traded on a fourth stock exchange, Paris. The group also increased its shareholding in the Egyptian British Bank to over 90% and then later renames it HSBC Bank Egypt S.A.E. It went on to acquire Demirbank TAS, now HSBC Bank A.S., Turkeys fifth largest private Bank in 2001. Additionally, it signed an agreement to purchase 8% stake in the Bank of Shanghai. In 2002, it acquired Grupo Financiero Bital, S.A., de C.V., one of Mexicos largest financial services groups; and a 10% interest in Ping An Insurance Company of China Limited, the second largest life insurance operation in China. In 2003, it acquired Household International (now HSBC Finance Corporation), a leading US consumer finance company; and Lloyds TSBs Brazilian assets including Losango Promotora de Vendas Ltda, a major consume credit institution. Four French private banking subsidiaries combine to form HSBC Private Bank France. The companys insurance brokers at the same time formed a joint venture Beijing HSBC Insurance Brokers Ltd, in which it has a 24.9% stake. Hang Seng Bank also acquired about 16% of Industrial Bank Co. Ltd, a mainland Chinese Commercial Bank, and HSBC agrees to purchase 505 of Fujian Asia Bank Limited (now known as Ping An Bank Limited). In 2004, it acquired the Bank of Bermuda Ltd, a leading provider of fund administration, trust, custody, asset management, and private banking services. It also opened in a fifth stock exchange, the Bermuda stock exchange. In the same year it acquired about 20% of the Bank of Communications Limited, Chinas fifth largest bank. EXISTING LITERATURE REVIEW Around the world corporations are increasingly becoming aware of the enhanced value that corporate branding strategies can provide for an organization. According to Weitz and Wensley (1988), they define marketing strategy as an indicator that is specific towards which activities are to be targeted and the types of competitive advantages that are to be developed and exploited. Implicitly, the strategy requires clear objectives and a focus in line with an organisations corporate goals; the right customers must be targeted more effectively than they are by its competitors, and associated marketing mixes should be developed into marketing programmes that successfully implement the marketing strategy, Varadarajan (1999). A strategic market plan is an outline of the methods and resources required to achieve an organisations goals within a specific target market. It takes into account not only marketing but also all the functional aspects of a business unit that must be co-ordinated. These functional aspects include production, finance and personnel. Environmental issues are an important consideration as well. The concept of the strategic business unit is used to define areas for consideration in a specific strategic market plan. Each strategic business unit (SBU) is a division, product line or other profit centre within a parent company. Each sells a distinct set of products to an identifiable group of customers, and each competes with a well defined set of competitors, Dibb et al. (2001). Each SBUs revenues, costs, investments and strategic plans can be separated and evaluated apart from those of the parent company. SBUs operate in a variety of markets, which have differing growth rates, opportunitie s, degrees of competition and profit making potential. HSBCs business units includes, personal financial services, consumer finance, commercial banking, corporate investment banking and markets, and finally, private banking. Strategic planners within the group therefore must recognise the different performance capabilities of each business unit and carefully allocate resources or strategically implement its business objectives in order to meet the companys long term goals. They must also ensure that the business units complement each other for the greater good of the overall business. The process of strategic market planning yields a marketing strategy that is the framework for a marketing plan. A marketing plan includes the framework and entire set of activities to be performed; it is the written document or blueprint for implementing and controlling an organisations marketing activities. Thus a strategic market plan is not the same as a marketing plan; it is a plan of all aspects of an organisations strategy in the marketplace, Dibb et al. (1996). A marketing plan, in contrast, deals primarily with implementing the marketing strategy as it relates to target markets and the marketing mix, Abell and Hammond (1979). To achieve its marketing objectives, an organisation must develop a marketing strategy, or a set of marketing strategies. The set of marketing strategies that are implemented and used at the same time is referred to as the organisations marketing programme. Most marketing programmes centre on a detailed marketing mix specification and include internal controls and procedures to ensure that they are implemented effectively. Through the process of strategic market planning, an organisation can develop marketing strategies that, when properly implemented and controlled, will contribute to the achievement of its marketing objectives and its overall goals. However, Harris (2002) argues that companies operating in the financial services market, particularly the big four retail banks (HSBC, Barclays, Lloyds TSB, and the Royal Bank of Scotland (with its acquisition of Natwest), primarily rely on generic marketing strategies. To formulate a marketing strategy, the marketer identifies and anal yses the target market and develops a marketing mix to satisfy individuals in that market. Marketing strategy is best formulated when it reflects the overall direction of the organisation and is co-ordinated with all the companys functional areas. The strategic market planning process is based on an analysis of the broader marketing environment, by which it is very much affected. Marketing environment forces such as legal forces, political forces, technological forces, economic and competitive forces, societal/green forces, and regulatory forces, can place constraints on an organisation and possibly influence its overall goals; they also affect the amount and type of resources that a business can acquire, Dibb et al (2001). They also do create favourable opportunities as well, such as internet banking in which HSBC and Merrill Lynch created an online banking and investment facility, which has proved profitable for both companys as a whole, Eppendorfer et al. (2002). Marketing enviro nment variables play a part in the creation of a marketing strategy. When environment variables affect an organisations overall goals, resources, opportunities or marketing objectives, they also affect its marketing strategies, which are based on the factors mentioned previously. They impact consumers needs, desires and they affect competitors plans. Now, according to Polito (2005), branding in the classic sense is all about creating unique identities and positions for products and services, hence distinguishing the offerings from competitors. Corporate branding employs the same methodology and toolbox used in product branding, but it also elevates the approach a step further into the board room, where additional issues around stakeholder relations (shareholders, media, competitors, governments and many others) can help the corporation benefit from a strong and well-managed corporate branding strategy. Not surprisingly, a strong and comprehensive corporate branding strategy requires a high level of personal attention and commitment from the CEO and the senior management to become fully effective and meet the objectives. Corporate branding is a serious undertaking that entails more skills and activities than just an updated glossy marketing facade with empty jargon. A strong corporate branding strategy can add significant value in terms of helping the entire corporation and the management team to implement the long-term vision, create unique positions in the market place of the company and its brands, and not the least to unlock the leadership potential within the organization. Hence a corporate branding strategy can enable the corporation to further leverage on its tangible and non-tangible assets leading to branding excellence throughout the corporation, Polito (2005). HSBC as stated in the latter has in recent years acquired a vast number of companies across the globe and adopted them fully under its international corporate brand with great success and within a surprising short timeframe. A strong brand is about building and maintaining strong perceptions in the minds of customers. This takes time to establish and many resources to keep, but eventually no one remembers what the local banks used to be called, and HSBC has managed to transfer the brand equities from the acquired brands into its own corporate brand equity. There are several benefits for employing a branding strategy that a corporation can exploit. First of all, a strong corporate brand is no less or more than the face of the business strategy, portraying what the corporation aims at doing and what it wants to be known for in the market place. The corporate brand is the overall umbrella for the corporations activities and encapsulates its vision, values, personality, positioning and image among many other dimensions. Think of HSBC, which has successfully implemented a stringent corporate branding strategy. HSBC employs the same common expression throughout the globe with a simple advertising strategy based on the slogan The worlds local bank.  This creative platform enables the corporation to bridge between many cultural differences, and to portray many faces of the same strategy. Additionally, HSBCs brand name has enabled a number of key mergers and acquisitions (mentioned previously) around the globe, which has so far strengthened its market presence in the banking world, Brand Finance (2000). The Marketing Strategies of the HSBC Group 2005 Towards the end of 2003, HSBC launched Managing for Growth, a strategic plan that provides HSBC with a blueprint for growth and development during the next five years. The strategy is evolutionary, not revolutionary. It builds on HSBCs strengths and it addresses the areas where further improvement is considered both desirable and attainable. HSBC concentrates on growing earnings over the long term at a rate which will place it favourably when compared with its peer group. Also it focuses on investing in its delivery platforms, its technology, its people and its brand to support the future value of HSBC as reflected in its comparative stock market rating and total shareholder return (TSR). HSBC remains committed to benchmarking its performance by comparison with a peer group. Its core values are integral to its strategy, and communicating them to customers, shareholders and employees is deemed as intrinsic to the plan. These values comprise an emphasis on long-term, ethical client relationships; high productivity through teamwork; a confident and ambitious sense of excellence; being international in outlook and character; prudence; creativity and customer focused marketing. Under the managing for growth scheme, eight strategic imperatives were identified as the key marketing and business strategies for 2004 2008. They are: Brand: make HSBC and its hexagon symbol one of the worlds leading brands for customer experience and corporate social responsibility Personal Financial Services: drive growth in key markets and through appropriate channels to make HSBC the strongest global player in personal financial services Consumer Finance: extend the reach of this business to existing customers through a wider product range and penetrate new markets Commercial Banking: make the most of HSBCs international customer base through effective relationship management and improved product offerings in all the Groups markets Corporate, Investment Banking and Markets: accelerate growth by enhancing capital markets and advisory capabilities focused on client service in defined sectors where HSBC has critical relevance and strength Private Banking: serve the Groups highest value personal clients around the world People: attract, develop and motivate HSBCs people, rewarding success and rejecting mediocrity; and TSR: fulfil HSBCs TSR target by achieving strong competitive performances in earnings per share growth and efficiency. RESEARCH APPROACH AND METHODOLOGY EMPLOYED Research Approach The research approach will be carried out using the positivist case research approach. According to Cavaye (1996), positivist epistemology tries to understand a social setting by identifying individual components of a phenomenon and explains the phenomenon in terms of constructs and relationships between constructs. The theoretical constructs describing the phenomenon are considered to be distinct from empirical reality. Hence, empirical observations can be used to test theory. This looks at the world as external and objective. Positivism employs four major research evaluation criteria: a good research should make controlled observations, should be able to be replicated, should be generalizable and should use formal logic. Under positivism, case research findings are not statistically generalizable to a population, as the case or cases cannot be considered representative of a population, however case research can claim theoretical generalizability. This will also include comparing, contrasting and critically evaluating past and present papers, articles, journals, and established theories that have been published on the subject matter. Methodology Employed Multiple-Case Study Design This project uses the multiple case study method in order to enable analysis of data across cases and relating it to the theoretical perspectives in the available literature of marketing strategy. This enables the researcher to verify that findings are not merely the result of idiosyncrasies of research setting (Miles and Huberman, 1984). According to Yin (2002), in such a method it is important to use: multiple sources of evidence. The appropriate number of cases depends, firstly, on how much is known about the phenomenon after studying a case and secondly, on how much new information is likely to emerge from studying further cases (Eisenhardt, 1991). This paper detailed analysis about the marketing strategies employed by HSBC, in comparison to its other major competitors, namely Barclays Bank, Royal Bank of Scotland, and Citibank. Analysis of the marketing strategy of HSBC is evaluated with regard to the organisation meeting customer needs and requirements, advertising strategies and the need to increase its customer base and market share are all addressed. One wants to see if there are any matches with regard to the theoretical literature of marketing strategy and what the empirical evidence gathered says and also any mismatches. This also relates to the literature review. Qualitative Data Cavaye (1996) states that qualitative investigation refers to distilling meaning and understanding from a phenomenon and is not primarily concerned with measuring and quantification of the phenomenon. Direct and in-depth knowledge of a research setting are necessary to achieve contextual understanding. Hence, qualitative methods are associated with face-to-face contact with persons in the research setting, with verbal data (Van Mannen 1989) being gathered. Qualitative data can be collected in a number of forms. One major form of qualitative evidence is interviews, which may be recorded and later transcribed. Qualitative data are rich, full, holistic real their face validity seems unpeachable; they preserve chronological flow where that is important (Miles 1979). In spite of the abovementioned, qualitative data have weaknesses (Miles 1979; Miles and Huberman, 1984). Collecting and analysing data is time-consuming and demanding. In addition, data analysis is not easy, as qualitative data analysis methods are not well established. Recognised rules of logic can be applied to verbal data in order to make sense of the evidence and to formally analyse the data. Rubin and Rubin (1995) state that it is most desirable to disclose the identities of both the case and the individuals interviewed because, The reader is able to recall any other previous information he or she may have learned about the same case from previous research or other sources in reading and interpreting the case report. The entire case can be reviewed more readily, so that footnotes and citations can be checked, if necessary, and appropriate criticisms can be raised about the published case. Nevertheless, there are some occasions when anonymity is necessary. The most common rationale is that when the case study has been on a controversial topic, anonymity serves to protect the real case and its real participants. The second reason is that the issuance of the final case report may affect the subsequent actions of those that were studied. Quantitative Data This is concerned with measuring aspects of a market or the population of consumers making up the market. This includes soft approaches such as consumer attitudes as well as the hard things such as market size, brand shares, purchase frequencies etc. Quantitative data on a market or consumer group can be obtained through carrying out a census, obtaining the relevant measures from every single consumer or player in the market. In practice, research through a census collection is very rare; for one thing it is usually prohibitively expensive to obtain data from every individual (the government only carries out a population census once every 10 years) and even if the money is available the timescales involved are likely to be too long to meet commercial deadlines, Meier (1991). Furthermore, a census is unnecessary since the alternative; sampling can normally produce adequate and acceptably reliable data for a fraction of the cost. Quantitative research is, therefore, nearly always based on more or less rigorous sampling methods which have in common the assumption that the data from the samples can be taken to represent, within estimated levels of accuracy, the population or universe from which they are drawn, (Hague 2002). Types of Quantitative Data The range of information which can be and is collected through quantitative research is enormous if not infinite. In relation to deciding how data should be collected, all the possibilities can be categorised into a simple threefold classification: 1.Market measures 2.Customer profiles or segmentation 3.Attitudinal data. Market measures quantify and describe a market. Common examples include: market and sector size; shares of the market held by suppliers or brands; penetration levels (what proportion of all potential consumers own or buy a product); purchase and consumption frequencies; patterns of consumption and seasonality. Data of this type is very essential for any manager developing or reviewing a marketing plan for a company, product group or brand name like HSBCs hexagon logo. Market measures taken from a sample are generally projected or grossed up to the total market or population, e.g., the proportion of households in a sample found to be without a PC can be multiplied by available estimates of the number of total households to provide an indicator of untapped potential. A vital concern in the marketing of a product or service is knowing and understanding the potential customer base; what type of people or organisation are they? What other types of products or services do they own or use? What is required to meet this need is customer profiling or segmentation data and it is quantitative in nature because reliable breakdowns are needed for the whole market or population, Buck (1990). Hague (2002) argues that profiling data can take various forms: socio-demographics (age, sex, income and occupation group, education level, home tenure etc); geo-demographics; various business classifications such as company size, industry etc. for business to business research or it can relate to consumer behaviour (ownership of various products, purchase or usage levels, media exposure etc.). Unlike market measures, consumer profiling data can be collected only from consumers (including organisations in the case of business to business research) although the distribution or manufacturing levels in the market may also need profiling. Attitudinal data is used in a quite general sense to cover concepts such as awareness, perceptions, beliefs, evaluations, preferences and propensities. In other words they are, in their various forms, subjective and reside in the minds of individuals. Much market research under this is concerned with attitudes and attitude measurement because attitudes and your marketing may mould consumer choice in your favour. Attitudes are of course very much the subject of qualitative research which is often concerned to identify relevant dimensions and categories of attitudes. In quantitative research, the focus is on establishing the degree to which specific attitudes exist among the market and population. The most important tool for data collection under quantitative research is face to face interviewing. However, in situations where over a hundred firms need to be interviewed, due to the cost attached to carrying out such a task, doing a telephone interview would seem more appropriate. The methods used to record data and data analysis here, is predominantly through questionnaires. Most questionnaires used in quantitative research involve a predominance of pre-coded or closed questions and the layout of the response points can help to minimize problems of mis-recording. More problematical, however, is the recording of open-ended questions, such as why did you buy this product, then? This usually leads to a lengthy or rambling response from the individual, in which what is said is then summarized or abbreviated and there is no way of knowing whether what is recorded reasonably reflects the response given. In the case of this paper, due to the short deadline associated with writing this paper, one was only able to get a telephone interview (primary data collection method) from a senior manager of customer relationship management at one of HSBCs flagship branches in the London area. Additionally one has also used multiple sources of evidence, i.e. secondary sources of information, articles, journals, established theories, HSBCs annual report, comments by top management within the organisation are analysed and also the companys website are all used to evaluate and address the effectiveness of its use of market strategy to increase its market share and customer base. The remainder of this paper proceeds as follows, analysis of findings, overview of the marketing strategy, criticisms, summary and conclusion. ANALYSIS OF FINDINGS Central to achieving a companys corporate vision is the need to build up a loyal customer base of satisfied customers. HSBC did not overtake its major competitors by chance in acquiring foreign financial institutions; it developed a clear marketing strategy based on a desire to fully satisfy a carefully targeted set of market segments. As the BBC (2004) gathered, a quarter of HSBCs 2003 profits were made in the UK, and it made around  £70 profit per customer. Additionally, the bulk of its profits came from acquisitions elsewhere, US personal loan firm Household International and HSBC Mexico. Although Household International operates in the UK, HSBC says its British market accounts for less than 10% of this divisions profits. Market segmentation is at the core of robust marketing strategy development. This involves identifying customer needs, expectations, perceptions, and buying behaviour so as to group together homogeneous customers who will be satisfied and marketed to in a similar manner. One segment will differ from another in terms of customer profile and buying behaviour, and also with regard to the sales and marketing activity likely to satisfy these customers. Having sufficient knowledge of these customers is fundamental. It is important to remember that the process of market segmentation involves more than simply grouping customers into segments. Shrewd targeting of certain segments and the development of a clear brand positioning are part and parcel of the market segmentation process. Now, HSBC launched a marketing strategy called Managing for growth, which is to cover and deal with its strategic outlook for the period 2004 2008. From the company website, they have stated that they will deliver this by; focusing on enhancing HSBCs revenue generation culture, develop its brand name further (hexagon logo), manage costs strategically, maintain a prudent credit/market risk stance, and invest further in its people. Addition ally, acquisitions still remains an integral part of their strategy. As stated from the companys website, they will concentrate on growing earnings over the long term at a rate which will place it favourably when compared with its peer group. It will also focus on investing in its delivery platforms, its technology, its people and its brand to support

RIM is Done Essay -- Business, Technology

Research In Motion (RIM) is a Canadian multinational telecommunications company headquartered in Waterloo, Ontario, Canada, that designs, manufactures and markets wireless solutions for the worldwide mobile and tele-communications market. They are mostly known for making the BlackBerry brand. When the BlackBerry was invented during the early 2000’s it was a huge hit. When 2011 came along, things starting to go downhill for RIM. Over the course of the year, they have lost more than 75% of their stock value. This caused a decline in investor’s confidence. However, they would have to deal with competition from Apple, faulty devices like Playbook turned consumers off, and frequent job cuts. If these points do not get dealt within the next 5 years they will declare bankruptcy and will cause a major impact in the cellphone industry. Competition from Apple is taking away potential sales from RIM. However, it is one of the few problems they must deal with in order for them stay in business. Apple is just one of the few competitors for RIM. On October 12th, Apple released the new iMessage and its new iPhone 4S and while that was happening, RIM was facing a worldwide outage that affected millions of people. People that were using the BlackBerry were sick, and tried having to deal with frequent outages, and decided to switch to the iPhone. That is another reason why competitors like Apple are doing a lot better because of selection. Rim’s phones are out-dated compared to those other firms’. Consumers have more choices today, and in many cases, the alternatives are superior. The BlackBerry has a single-core chip inside with a 640x480 screen, compared to the Apple, which has two-cores and 640x960 screens. On March 11th 2011, Apple release... ...ada – CBC News, December 15, 2011 RIM looking anemic: Revenues down, more job cuts on the way, PlayBook sales negligible, September 15, 2011 RIM stocks drop 23 per cent after BlackBerry maker reports poor Q2 performance – Global News, September 16, 2011 RIM timeline – theSpec.com, January 23, 2012 Exclusive: Amazon weighed buying RIM, interest cooled – Yahoo! Finance, January 12, 2012 Is Lazaridis/Balsillie exit enough to save RIM? – Yahoo! Finance, January 23, 2012 Rim’s Chances For A Successful 2012: About Zero – BYTE, January 03, 2012 Rim’s Chances For A Successful 2012: About Zero – BYTE, January 03, 2012 RIM stock declines 8.4% following CEO step-down – Fudzilla, January 23, 2012 Ten things RIM's new CEO must do right away – CNET News, January 23, 2012 Microsoft, Nokia Reportedly Considering Rim Buyout – HotHardware, January 12, 2012

key terms english :: essays research papers

KEY TERMS Alliteration - The repetition of the same sounds or of the same kinds of sounds at the beginning of words or in stressed syllables, as in â€Å"on scrolls of silver snowy sentences† (Hart Crane). Modern alliteration is predominantly consonantal; certain literary traditions, such as Old English verse, also alliterate using vowel sounds. Anaphora - The deliberate repetition of a word or phrase at the beginning of several successive verses, clauses, or paragraphs; for example, â€Å"We shall fight on the beaches, we shall fight on the landing grounds, we shall fight in the fields and in the streets, we shall fight in the hills† (Winston S. Churchill). 1.  Ã‚  Ã‚  Ã‚  Ã‚  Linguistics. The use of a linguistic unit, such as a pronoun, to refer back to another unit, as the use of her to refer to Anne in the sentence Anne asked Edward to pass her the salt. Antithesis - Direct contrast; opposition. -The direct or exact opposite: Hope is the antithesis of despair. 1.  Ã‚  Ã‚  Ã‚  Ã‚  A figure of speech in which sharply contrasting ideas are juxtaposed in a balanced or parallel phrase or grammatical structure, as in â€Å"Hee for God only, shee for God in him† (John Milton). 2.  Ã‚  Ã‚  Ã‚  Ã‚  The second and contrasting part of such a juxtaposition. -The second stage of the Hegelian dialectic process, representing the opposite of the thesis. Apotheosis - Exaltation to divine rank or stature; deification. 1.  Ã‚  Ã‚  Ã‚  Ã‚  Elevation to a preeminent or transcendent position; glorification: â€Å"Many observers have tried to attribute Warhol's current apotheosis to the subversive power of artistic vision† (Michiko Kakutani). 2.  Ã‚  Ã‚  Ã‚  Ã‚  An exalted or glorified example: Their leader was the apotheosis of courage. Blank verse - Verse consisting of unrhymed lines, usually of iambic pentameter. Caesura - A pause in a line of verse dictated by sense or natural speech rhythm rather than by metrics. 1.  Ã‚  Ã‚  Ã‚  Ã‚  A pause or interruption, as in conversation: After another weighty caesura the senator resumed speaking. 2.  Ã‚  Ã‚  Ã‚  Ã‚  In Latin and Greek prosody, a break in a line caused by the ending of a word within a foot, especially when this coincides with a sense division. 3.  Ã‚  Ã‚  Ã‚  Ã‚  Music. A pause or breathing at a point of rhythmic division in a melody. Elegaic - Of, relating to, or involving elegy or mourning or expressing sorrow for that which is irrecoverably past: an elegiac lament for youthful ideals. 1.  Ã‚  Ã‚  Ã‚  Ã‚  Of or composed in elegiac couplets. Enjambement - The continuation of a syntactic unit from one line or couplet of a poem to the next with no pause.

Critique of Geoffrey Canadas Fist Stick Knife Gun Essay -- Fist Stick

Critique of Geoffrey Canada's Fist Stick Knife Gun The Book â€Å"Fist Stick Knife Gun† by Geoffrey Canada is a biographical account of his childhood in the south Bronx. He and his 4 brothers were raised by only their mother. She would survive on no more than ten dollars a week. He moved several times as a child until finally landing on union avenue, the place were many of his life lessons were learned and at times applied. He learned about the ranking process of kids on union Ave. and how the only way to improve your status was to use your fists to fight your way up the chain. Looking back Geoffrey Canada notices the major shift in attitudes concerning the rules of the streets. What once was harmless fist fighting has now turned over to guns. His opinions can be seen in his title â€Å"Fist Stick Knife Gun†. One of the earliest lessons he ever learned was from his mother. She told all four of her boys to never let people think they were afraid and that they were never to become victims. This is shown with each word that Canada uses in his title. The first phase of his life consisted of â€Å"Fist†. He recalls the time when he first moved to Union Ave and he was trapped inside his apartment because he hadn’t established himself in the neighborhood. He would sit up in his 3rd floor apartment and jealously looked on, as all the other kids would play in the streets. One day his older brother John had enough and walked outside to face his fate. The rest of his brothers followed and eventually each got beat up as a pass to the streets. None of them showed their fears or their pain, a lesson that they first learned from their mother. This was only one of many steps/ factors in becoming an established individual not to be reckoned with. Age was the other factor to be considered. Th e older you were, the more respect you got from others. There were the young adults, who were the biggest and badest on the block. They weren’t usually around to defend their turf because they all belonged to a gang, however everyone knew they ruled all. Next were the mid-teen boys who were the â€Å"real rulers of Union Ave (18)† They were the ones who enforced the rules. The lower categories were the early teens and the pre teens. The early teens were just learning the rules whereas the pre teens couldn’t go off of the sidewalk. Geoffrey belonged to the lowest rung, the sidewalk group. As time wen... ...hese rules. They may seem unfair and even ridiculous to us outsiders, but that’s because we have more options of obtaining success than those caught in the belly of the slums. These codes are all that they have and without them, they would have no meaning in their lives, nothing to live up to day in and day out. They give these people a reason to wake up in the morning and a sense of pride that can’t be provided in any other way.   Ã‚  Ã‚  Ã‚  Ã‚  Geoffrey Canada gives his readers a rare opportunity to look inside the life of a ghetto kid and what they have to go through just to survive. He also provides answers to the many questions asked of why certain things happen the way they do in the Bronx. He used his childhood experiences and turned them into a unique tool when helping the youth of today. Now that he works as a youth councilor he sees that the problem in the slums has gotten dramatically worse with the emergence of guns. It used to be about pride and status, now any thug with a gun can be feared in the community. This, to Canada is a major problem because guns gives kids a sense of power, a strong feeling that is often abused and results in someone, even an innocent person dead.

Plot Summary Catch Me If You Can Essay

In 1963, teen-aged Frank Abagnale (Leonardo DiCaprio) lives New Rochelle, New York with his father Frank Abagnale, Sr. (Christopher Walken), and French mother Paula (Nathalie Baye). When Frank Sr. is denied a business loan at Chase Manhattan Bank due to unspecified difficulties with the IRS, the family is forced to move from their large home to a small apartment. Paula carries on an affair with Jack (James Brolin), a friend of her husband. Meanwhile, Frank poses as a substitute teacher in his French class. Frank’s parents file for divorce, and Frank runs away. When he runs out of money, he begins to rely on confidence scams to get by. Soon, Frank’s cons grow bolder and he even impersonates an airline pilot. He forges Pan Am payroll checks and succeeds in stealing over $2. 8 million. Meanwhile, Carl Hanratty (Tom Hanks), an FBI bank fraud agent, begins to track down Frank. Carl and Frank meet in a hotel, where Frank convinces Carl his name is Barry Allen of the Secret Service. Frank leaves, Carl angrily realizing his mistake just as it is too late. Later, at Christmas, Carl is still working when Frank calls him, attempting to apologize for duping Carl. Carl rejects his apology and tells him he will soon be caught, but laughs when he realizes Frank actually called him because he has no one else to talk to. Frank hangs up, and Carl continues to investigate, suddenly realizing (thanks to a waiter) that the name â€Å"Barry Allen† is from the Flash comic books and that Frank is just a teenager. Frank, meanwhile, has not only changed to becoming a doctor and a lawyer, but has fallen in love with Brenda (Amy Adams), to whom he eventually admits the truth about himself and asks her to run away with him. Carl tracks him to his engagement party where Frank has left Brenda, asking her to meet him two days later so they can elope. Frank sees her waiting for him two days later, but also sees agents in disguise. He realizes he has been set up and escapes on a flight to Europe. Seven months later, Carl shows his boss that Frank has been forging checks all over western Europe and asks permission to go to Europe to look for him. When his boss says no, Carl brings Frank’s checks to printing professionals who deem that the checks were printed in France. Carl remembers from an interview with Frank’s mother that she was born in Montrichard, France. He goes there and finds Frank, and tells him that the French police will kill him if he does not go with Carl quietly. Frank assumes he is lying at first, but Carl promises Frank he would never lie to him, and Carl takes him outside, where the French police escort him to prison. The scene then flashes forward to a plane returning Frank home from prison, where Carl informs him that his father has died. Consumed with grief, Frank escapes from the plane and goes back to his old house, where he finds his mother with the man she left his father for, as well as a girl who Frank realizes is his half-sister. Frank gives himself up and is sentenced to 12 years in prison, getting visits from time to time from Carl. When Frank points out how one of the checks Carl is carrying as evidence is fake, Carl convinces the FBI to offer Frank a deal by which he can live out the remainder of his sentence working for the bank fraud department of the FBI, which Frank accepts. While working at the FBI, Frank misses the thrill of the chase and even attempts to fly as an airline pilot again. He is cornered by Carl, who insists that Frank will return to the FBI job since no one is chasing him. On the following Monday, Carl is nervous that Frank has not yet appeared at work. However, Frank does show up and they discuss their next case. The ending credits reveal that Frank has been happily married for 26 years, has three sons, lives in the Midwest, is still good friends with Carl, has caught some of the world’s most elusive money forgers, and earns millions of dollars each year because of his work creating unforgeable checks.