Customer Management Research Paper Example | Topics and Well Written Essays - 3250 words

Customer Management - Research Paper Example â€Å"Customer retention refers to the ability of a company or product to retain its customers over some specified period. High customer retention means customers of the product or business tend to return to, continue to buy or in some other way not defect to another product or business, or to non-use entirely†.(Wikipedia,2017) With the cost of customer acquisition rising, retention is a priority for banking institutions. Majority of the products and services offered by a bank can be easily replicated by another bank, the only factors on which they can differentiate are price, customer management and quality. Thus, customer retention is potentially the solution that banks can use to gain an upper hand and survive in an extremely competent banking industry(Inkumsah 2013). â€Å"As per Harvard Business School report, on average, increasing customer retention rates by 5% increases profits by 25%-95%†(Anon 2017). Customer Retention helps in advances in revenue generation, p roduct development, marketing, customer feedback, branding, differentiation, along with causing less stress to bank employees, getting more interaction and feedback from the customers. Analytics play an important part in banks' retention strategies. Banks, by using analytical techniques on appropriate enablers can see a significant increase in new customers and elongated relationships with existing ones.

Smartphone Essay Example | Topics and Well Written Essays - 2000 words

Smartphone - Essay Example The will be able to produce a cell that can retain charge for a long time and which is appealing to their consumers because of its light weight. The company will incur a cost of ?830,000 to make a slim durable cell. This will enable them to capture the Smartphone market before the Korean rivals. For MidlandsPhones to be able to achieve their targets, they will have to commit a lot of resources to accomplish this undertaking. The company has adequately planned for skilled directors and other staff members to execute the plan (Lewis, 200, p. 65). The aim of the MidlandsPhones Company is to launch their product before the December so that during the vacation, they can be able to make significant sales. Another target is to be the first company to enter into the market with a light and long lasting battery for a Smartphone (Sheila, 2008). Finally, the company will have to carry out thorough market research to ensure they have an adequate potential to meet customers’ requirements. As a result, the company has set aside a lot of resources to complete their project with the set time and achieve their objectives. Getting into the market earlier than before the entry of any other rival is crucial because it will help the MidlandsPhones Company to capture market share and strengthen their competitive potential. This company will also be able to raise enough funds to cover for expenses incurred during research. It will also help them to mitigate the anticipated decline in market growth in the year 2013 as a result of increasing rivalry. The MidlandsPhones Company has partnered with PowerDev Company to ensure the proposed plan has succeeded. They have formed a strong production and marketing team who will avail the product for sale after four months once the project commences. The MidlandsPhones will also be able to utilize the resources available for the project and work within the set time to ensure smooth running of the activities. This will assist them to avoid unnecessary delays which would otherwise result to stiff rivalry from other producers. Having experienced project team is of paramount importance because it will ensure efficiency of resource use and timely launching of the product. Question 2: Reasons for Venture Preparation and Appendices (a). Scope (appendix 1) The project staff should set the time period with which they will achieve their specific goals (Urquhart-Brown, 2008, p. 54). They should also establish qualified project workers which will ensure the set goals are achieved within specified time. In addition, they should utilize all the available resources effectively to ensure the plans are attained. The staff should set the means and frequency of disseminating of information within themselves and with the company’s management to ensure adequate coordination of the activities. The MidlandsPhones will launch the new Smartphone with light and durable battery towards the end of November 2012. To ensure this plan is ac hieved, the company has established a strong establishment staff headed by an experienced production and marketing manager who will direct the members during the entire project period. The project staff will work to ensure the product is ready for market starting on first December 2013. The staff will also mobilize all the available resources to ensure the company’s target is achieved. They will also ensure that the company’

'Systematic' approach Essay Example | Topics and Well Written Essays - 2750 words

'Systematic' approach - Essay Example An organizations success depends on qualities of the employees working in that organization. For achieving the goals of the organization, the organization required right quantity and quality of employees. By understanding the learning need the organization can improve the capabilities of the employees. By providing learning opportunities to the employees helps to achieve personnel and carrier goal and able to increase the employees engagement. This helps to improve the productivity of the organization. Learning â€Å"is acquiring new knowledge behaviors, skills, values, preferences or understanding, and may involve synthesizing different types of information. The ability to learn is possessed by humans, animals and some machines. Progress over time tends to follow learning curves.Human learning may occur as part of education, personal development, or training. It may be goal-oriented and may be aided by motivation. The study of how learning occurs is part of neuropsychology, educational psychology, learning theory, and pedagogy.† (Learning, 2010). An organization’s ability to learn and translate that learning into action is the ultimate competitive advantage. In each and every organization using learning process learning is mainly using for the purpose train the employees it is a continuous process and it is a step by step process it is a systematic approach. Learning is the process by which people select organize or interpret attach meaning to the event happening the environment. Learning and developments involves the continual improvement of companies in the organization. The learning source may including workers ideas, consumers input, research and development (R&D) and best practice sharing and benchmarking. The learning result give more satisfaction and versatile of employees. In each and every organization have there on approaches they must realize that by continuously developing and training their employees

Homosexuality in China Research Paper Example | Topics and Well Written Essays - 1750 words

Homosexuality in China - Research Paper Example As a result, there is a possibility that the number of such relationships may be increasing in the country. In recognition of this fact, this paper will examine the issue of homosexuality in China. This will be done with a close reference to the short story "The Bridegroom" by Ha Jin. The story is about a strange marriage between Beina and Baowen Huang who unexpectedly proposes to her to the shock of everyone who did not expect such a handsome young man would think of marrying her despite her â€Å"stocky and stout† figure as her guardian and the narrator describes (p 472). However, as months go by in their marriage, there are no signs of her having a child. It is only after eight months that Beina’s guardian discovers that her daughter married a man with homosexual orientations without feelings for women. It is also surprising that her daughter was seemingly comfortable with this situation. From this story, we are able to discover that homosexuality was an ancient practice in China but because of various issues, the men and women involved did not come out openly with it. One of the major challenges that the gay society faced in the story by Jin is that of a legal perspective towards their sexual orientation as will be discussed below. The legal environment was not favorable for the survival of the homosexuals. It is even to the surprise of the family members of Beina when it is discovered that Baowen and his â€Å"Buddies† were meeting at night in a club (Jin 474). The fear by the men or members of the gay community in the country to come out in the open was founded on the fact that they knew that their practice had legal implications. As a matter of fact, when the inspector of police in the story breaks the news of arrest to the families of the men in the story, he talks of sentencing the men â€Å"from six months to five years...†

The Necklace by Guy de Maupassant and Roman Fever by Edith Wharton Essay

The Necklace by Guy de Maupassant and Roman Fever by Edith Wharton - Essay Example This essay explores the importance of endings in two stories "The Necklace" by Guy de Maupassant, and "Roman Fever" by Edith Wharton. Ending have been used to facilitate an unexpected change of plot /achieve plot twist towards the end in the two stories. The type of ending used here is called twist ending. There is an unexpected change of outcome towards the end of the story and this brings up an unexpected conclusion to the story. For example, the two women start talking about the mix of love relationships they had before they just got married. Mrs. Ansley had been in love with the husband of Mrs. Slade before he married her. The two woman had been living as friends since childhood and were now chatting as friends as well. Just towards the end of the story, they reveal the grudges they have had against each other all this years and the tricks they had played on each other. For old woman, and both being widows, this is not the kind of thing anyone would expect them to hold much impor tance to youthful love battles (Wharton 1). Looking at the story the necklace, the author has also successfully managed to use a twist ending. Loisel and her had bought a new necklace for Mrs. Forester to replace the lost necklace and had kept this as a secret between themselves for 10 good years. They had been paying dearly for it and no one would expect that Loisel would want to reveal it least it brings up an enemity between them. Surprisingly, Loisel decided to tell Mrs. Forester the truth. To her amazement, she was not angered, instead, Mrs. Forester showed love to her old friend and even confessed that her original necklace was not real diamond nut fake, costing only five hundred francs (Maupassant 1). The importance of the use of twist ending in the two stories allows the readers of the two stories to re-evaluate the narratives and their characters as well. For example, one would have thought Mrs. Forester as a harsher strict women because of the fear in Loisel and her husban d. However, a reverse of this was revealed when she takes Loisel in two hands and tells her the truth behind her old necklaces. The type of ending is also important in allowing the readers to make discoveries in the two stories for example, only through the last portion of the story do the readers come to know the things that contributed to the somehow cold type of friendship and hidden grudges between Mrs. Ansley and Mrs. Slade. It reveals the romantic rivalry in their youth that made Mrs Slade to harbour feelings of hatred and jealousy against Mrs Ansley. By the words of Mrs. Ansley, †I had Barbara†, it reveals Barbara was an illegitimate child she had with Delphin, Mrs. Slades husband. At the same time, it helps to reveal the truth behind the rich-looking nature of Mrs Forester. She was not that rich but she gained status by going for substitutes and no one knew of this. Endings have also been used in the two stories to surprise their audiences. This type of ending is called surprise ending. The use of surprise ending as revealed in the last lines by Mrs. Ansley in the story the Roman fever. No reader would imagine the daughters of the two women were not only friends. They were sisters. Mrs. Ansley surprises her friend and the audience of the story by speaking in a way that revealed that Mrs. Slade’s plan to disappoint her friend and make her separate from her fiancee had turned out to be her luck. The

Lesotho Case Essay Example for Free

Lesotho Case Essay Lesotho Case Study BY byrne280 The Market and the Mountain Kingdom: Change in Lesothos Textile Industry Apartheid and the resulting sanctions against South Africa are what ultimately created the textile industry in Lesotho. Aside from the workers that have historically worked across the border in South African mines, the arrival of the textile industry gave Lesotho its first real participation in the global economy. Otherwise the Lesotho economy consists mostly of subsistence farming. The textile industry gives Lesotho an opportunity to participate in trade with the rest of the world and ideally benefit rom globalization. Geographically, Lesotho is uniquely landlocked and in a complete enclave of the country of South Africa. It is the abundance of affordable labor that has attracted clothing manufacturing firms, mostly from Asia that then bring the finished products to the world markets, primarily the United States and Europe. Lesotho has been an appealing location for textile manufacturing in part because of world trade agreements such as the Multi-Fiber Arrangement (MFA), the Lom © Convention and the African Growth and Opportunity act (AGOA). All of these trade greements have expired or are set to expire in some capacity as of the writing of the subject case study, The Market and the Mountain Kingdom: Change in Lesothos Textile Industry written in November of 2006. I will be examining these trade agreements and other factors to determine the costs and benefits of each. Lesotho is at a crucial stage of economic development and the decisions that the government makes will affect the quality of life for the people of Lesotho for years to come. Through this examination of the past there are many lessons to be learned from these previous trade policies. In some ways, these policies benefit other countries more than Lesotho. Hopefully these lessons can be applied to a plan of action for the government of Lesotho. It is my recommendation that the government of Lesotho evaluate the causes and effects of these policies as well as the costs and benefits. Going forward Lesotho should do more to empower and educate its own people rather than rely on preferential trade policies. It is not my point that Lesotho should not take advantage of trade policies while they are in place but it has repeatedly set itself up for failure when trade policies expire. Analysis of Previous Policies Affecting the Lesotho Textile Industry The Lom © Convention: The Lom © Convention was the first experiment in development and co-operation between Europe and Africa after colonial rule. It was established in 1975 and during the 1980s greatly benefited Lesotho by providing a developmental spark to the textile industry. It also provided for a smoother separation from British colonization and was a good stepping stone for development. As result, Lesotho along with other former colonies benefited from preferential trade with Europe. However the agreement went through five major evisions as needs changed and finally expired completely in 2007. The Lom © convention can be credited for providing a short-cut to development for developing former colonies but the preferential treatment was not sustainable long term. It was changed to require that the raw materials originate from a former colony as well. Since Lesotho does not produce its own raw materials and imports most of raw materials from China rather than other former colonies, the policy was already outdated before it expired. This left a 17% tariff in place for Lesothos access to European markets. This virtually eliminated trade with Europe by 1998. The Multi- Fiber Arrangement (MFA) and, the Agreement on Textiles and Clothing (ATC) The MFA was a multi-nation agreement that created quotas from individual countries on imports to the Unites States. The MFA was active from 1974 to 1994 and was then replaced when the World Trade Organization (WTO) implemented a similar policy called the Agreement on Textiles and Clothing (ATC). The policy expired in 2005 and there are currently no country quotas on textiles. Much like the Lom © Convention, the ATC helped to start the Lesotho textile industry and carried it through 2005. The cost is that arguably quotas can hinder free trade in the world arket. It gives inefficient countries and unfair advantage over efficient countries. The aggregate world output of textiles is fundamentally lower with the quotas in place. The MFA and ATC provided a great way for Lesotho to participate in world trade but unless the policies are permanent, it is not a sustainable solution. Because quotas facilitate inefficient production of goods, they cannot be in place indefinitely. Eventually, truly fair trade must be allowed among all countries and Lesotho must be able to manufacture textiles as efficient as countries like China if it would like to have its textile industry survive.

Restructuring Debt Essay Example for Free

Restructuring Debt Essay One appreciates the recommendation of providing information on restructuring debt to help the company combat its recent financial troubles. Even though the company is in the process of reorganizing one believes this information will help a company in reporting the restructuring of debt. One will provide information on the requirements of reporting debt on bonds, notes, and capital leases. In performing this one will also provide the journal entries one would need to record to restructure the company’s debt along with a comparison of the debt for the company’s current reporting. One will also provide valuable information on the company’s postemployment benefits. Requirements for Reporting Debt Long-term debts for a company are present obligations that consist of probable future sacrifices of economic benefit, which â€Å"are not payable within a year or within the operating cycle of the company† (Kieso, Weygandt, Warfield, 2007, p. 672). Generally long-term debt consists of three categories, which are bonds payable, notes payable, and capital leases. In financial reporting one of the most controversial areas is the reporting of long-term debt because this debt impacts the cash flows of a company (Kieso, Weygandt, Warfield, 2007, p. 691). The reporting requirements of the debt must be both substantive and informative to the investor. Some long-term debt such as bonds, notes, and others may need approval by the board of directors and stockholders before a company acquires the debt. Most long-term debt a company acquires has certain ovenants or restrictions within its agreement. This helps protect both the lender and borrower. A company must disclose the features along with any covenants or restrictions in the agreement of long-term debt in the financial statements or in the notes of the financial statements. This is only if the information provides an investor a more â€Å"complete understanding of the financial position of the company and the results of its operations† (Kieso, Weygandt, Warfield, 2007, p. 672). Bonds Payable  Bonds basically represent a contract of a promise to pay at a maturity date a sum of money plus a specified rate of periodic interest on the maturity amount. Bonds can be either secured or unsecured. Secured bonds have some pledge of collateral that backs up the bond. An example of this type of bonds is a â€Å"mortgage bond secured by a claim on real estate† (Kieso, Weygandt, Warfield, 2007, p. 673). Unsecured bonds are bonds that do not have any collateral attach to them. Most bonds carry a specific rate of interest whereas others are sold with an implied interest rate at a discount. One can convert some bonds into other securities. No matter what bond a company acquires the terms and conditions of the bond must be disclosed along with the covenants or restrictions on the bond. A company must also disclose any violation on the covenant or restrictions of the bond. In reporting bonds a company must report the bond at its face value â€Å"of its expected future cash flows, which consists of interest and principal† (Kieso, Weygandt, Warfield, 2007, p. 675). The company amortizes any discount or premium of a bond over the life of the bond. This basically is reporting the bond at its face value less the unamortized discount or plus the unamortized premium. General Accepted Accounting Principles (GAAP) requires a company to use the effective- interest method in determining the amortization of a discount or premium of a bond. A company reports the portion of the bond that matures within a year (current portion) as a current liability, and the remainder as a long-term liability on the balance sheet. Notes Payable Notes payable are generally an amount of money a company borrows with a romissory note. Long-term notes are similar and different from bonds in some ways. The similarity is notes payable also â€Å"have fixed maturity dates and carry either a stated or implicit interest rate† (Kieso, Weygandt, Warfield, 2007, p. 685). The difference is notes payable are not easily tradable. A company reports notes payable in a similar fashion as it does bonds. In reporting a note payable a company records the note at its face value of its future interest and principal cash flows. The company amortizes any discount or premium of a note over its life. If a note has no-bearing interest rate the company should report the difference between the face value and the cash received as a discount on the note. This amount one amortizes over the life of the note to interest expense. Capital Leases A company may use capital leases to finance its acquisition of capital assets. In lease financing a company must met the criteria of the Financial Accounting Standards Board (FASB) on capital leases. In this a company must record both a liability, and a related asset on its balance sheet. In reporting capital lease a company reports the lease at its present value of the minimum lease payments. The company allocates these lease payments using the effective interest method to interest expense. This allocation using the effective interest method reduces the lease liability of the company. A company regardless of the type of liability it has must report the interest rate, maturity date, current interest expense, and future interest and principles payments of the liability in its financial statements or notes. A company should also disclose any restrictions or covenants on these liabilities. In disclosing this debt a company should present the debt by major category.