Police Functions Essay

I think police officers are a good help for the communities they serve. Police is necessary in each city to prevent crimes and bring peace to citizens, so they can live in a safe place and knowing that they are protected of the criminals. . The reality of policing is that the police play an extremely complex role in today’s society. This role involves many different tasks. People think that they are always fighting criminals and risking their life in bad situations but as Walker described in his article â€Å"Police and Society† (2001) â€Å"Many studies of police work document the complexity of the police role. The Police Services Study (PSS), for example, examined 26,418 calls for service to the police in three metropolitan areas. As the data in Table 1-1 indicate, only 19 percent of the calls involve crime, and only 2 percent of the total involves violent crime† they spent most of their time in patrolling the city and watching for over speed cars. Every city h as a police department for a purpose and the most important role of the police is to help maintain peace, enforce the laws of the land, protect the people from criminals, and to help ensure the safety of the citizens. Also police officers are important to the government to be protected it against society. They contribute to social control through both law enforcement and order maintenance responsibilities. There are a lot of functions that police should continue to do like prevent and control conduct widely recognized as threatening to life and property, identify problems that have the potential for becoming more serious problems, create and maintain a feeling of security in the community, promote and preserve public order, and help people who are in danger of physical harm, such as the victims of violent attack. These functions are very important to the communities because crimes are increasing day by day  and without the help of police officers there will be chaos in the society and people would not be safe. Although police officers have many different kind of functions and they need to do it, not all functions are that important. They should spend less time in answer calls that are not for criminal purposes like people calling 911 because their neighbor has loud music or bothers them, watching all day for over speed cars, with no lights or plates, and they do not have to abuse the ir power when searching for a guy that is suspicious. They should devote most of their time patrolling the city searching for suspicious people, helping people in need, and maintaining the public order. There are factors that influence the functions of some police officers like their inexperience in the field work, their fear to confront dangerous criminals and get injured, the budget of their police department, or their low salary that make them think they do not have to risk their lives and work harder. There is no doubt that we need the police because they play an important role in our society and without them we could not have freedom. Reference Walker, S. (2001). Police in America. Chapter one: Police and Society. Retrieved from http://highered.mcgraw-hill.com/sites/dl/free/007241497x/39793/samplech01.pdf

Child Protective Services

CHILD PROTECTIVE SERVICES REFORM 1 INTRODUCTION Child Protective Services (CPS) is a complex system of assessments, investigations, and conclusions. CPS is the central agency in each communities child abuse and neglect service system. It is responsible for ensuring that preventative, investigative, and treatment services are available to children and families endangered by child abuse and neglect. As a result, CPS workers must perform a variety of functions when responding to situations of child maltreatment and play a variety of roles throughout their involvement with child protective clients.Reporting a suspective case of child maltreatment to the local CPS agency (or a family member’s own request for help with the problem) initiates the CPS response process. Once the intake is completed, an investigative process is done, and then the initial assessments and services planning processes are completed. Then the stage is set for implementation of ongoing services(Schene)(1). Th is description of the process of child protective services sounds acceptable and workable. However, an increasing number of child abuse and neglect cases have presented themselves in recent years.According to Jane Waldfogel, a writer for Child Welfare, about three million children were reported to the CPS in 1997, a more than fourfold increase over the number reported just 20 years earlier. In our society today, with increased violence and agitation the number has risen dramatically again. SHE ALSO 2 stated that caseloads of child protection workers increased dramatically in response to widespread concerns about CSA (child sexual abuse)(Waldfogel)(2). The number of children coming into the child welfare system remain at unacceptably high levels because of substance abuse, poverty, joblessness, housing, and other social problems.This increasingly high number of reports turning into caseloads for social workers has combated the effectiveness of the above CPS process. The average socia l worker handles approximately 135 cases. The high number of caseloads per social worker ratio is driving down the original intended purpose of CPS. There is also the issue regarding gaps of protection for the children. Twenty-five to fifty percent of deaths from child abuse involve children who were previously reported to authorities for suspected maltreatment.Tens of thousands of other children suffer serious injuries while under the supervision of CPS (Besharov)(3). At the same time, overreaction to complaints of abuse plagues the system. Children have been removed from parental custody and placed in foster care for weeks and months based on the most cursory investigations. Sometimes the children were removed on the basis of unvalidated complaints. Many courts have begun to find that when CPS employees fail to do their jobs well, the agencies and the employees may be liable for resulting injuries.There have been some setbacks though. For example, in 1989, the U. S. Supreme Court held that the failure to protect a child who had been reported to CPS as in danger and who was under the agency’s supervision through home visitation, was not an actionable claim under . 3 sec. 1983 of the Federal Civil Rights Act. The case was DeShaney v. Winnebago County Department of Social Services(Trial)(4). This history of foster care as child protection is quite recent, expanding into it modern core components as a result of a law passed by Congress in 1961.As the National Coalition for Child Protection Reform (NCCPR)(5) points out in a Child Welfare Timeline on their website (www. nccpr. org), the tension between placing children out of the home and preserving and restoring the family has proven to be the decisive struggle in child protection. As a result of decisions made during the Presidencies of Reagan and the senior Bush, undermining of support for family preservation and strengthening of incentives for foster care placement effectively reversed the trend.The res ult is that as of 2006 there are nearly 600,000 children in foster care nationwide. Statistics are given by the U. S. Department of Health and Human Services in annual reports to congress in their Adoption Foster Care Report (AFCARS) (6). According to another report by the U. S. Department of Health and Human Services, the Child Abuse and Neglect National Statistics (CANNS)(7), the composition of children in foster care is the result of, 10% sexual abuse, 19% physical abuse, and 63% neglect. The cost of foster care is a staggering $9,400,000,000 annually.It seems apparent that the CPS system is in dire need of reform. Funding for services needs to be completely overhauled. The higher caseload situation is compounded with reduced resources and lack of support for both families and workers. These issues are very important to all of us Americans. These children are our future. 4 We as Americans need to look into what types of reform are needed and have these issues addressed to Congres s. RESEARCH QUESTIONS During my research, I will be conquering questions that are important to this subject.Questions like, â€Å"What types of reforms are currently in place? † â€Å"What type of education does a CPS worker need? † â€Å"How can we ensure expanded voluntary/preventive family support systems are adequately funded for child well-being systems to be put into place? † â€Å"What type of funding should be allocated by the federal government and state government? † â€Å"What type of liability does CPS have for inadequate protection? † â€Å"Which cases really belong with CPS and which ones should be more community- based cases? † METHODS My approach for my research will consist of multiple different facets.I will be using archival information, including both journal articles and books, from the library. I will also be gathering information from various websites that pertain to Child Protective Services. The websites will be both federal and state governmental sites, child protective services reform sites, and psychiatric based perspective on children in protective services. In addition, I will be conducting a personal interview with Mrs. Tammy Houtari LMSW, ACSW, CAADC. Mrs. Houtari is a local social worker who has numerous years of experience working for local human services agencies.Currently, she is an instructor here at Lake Superior State University and also has her own private practice. 5 My hopes are that Mrs. Houtari will be able to enlighten me on many different facets of the social worker and their responsibilities to ensure the safety of children. I will also explore what other researchers have contributed to this issue and what they are currently saying. I will also examine present day statistics involving the funding for protective services. In addition, I will study the current plans for reform and what types of community programs are available to children and their families.Utilizing these v arious methods will provide me with a broad range of information and resources that will aide me in completing my research. DISCUSSION AND IMPLICATIONS Society’s expectation of the child protection system is that it will keep children safe from serious injury and that it will reach out effectively to all legitimate community concerns for the safety of children. This expectation is not being met with the current system and resources, and it is the standard by which any newly designed communitybased system of child protection should be judged.The bottom line for any system of child protection is that it assures safety for children, not just for those who make it into the system. It is for all those who are at risk in the nation’s communities. Public support for any such system will depend primarily on whether it can assure that safety while simultaneously recognizing and respecting the responsibilities of parents to raise their own children. 6 WORK CITED (1) Patricia A. Schene, PhD, consultant in children and family services and is associated with the Graduate School of Public Affairs at the University of Colorado, Denver.THE FUTURE OF CHILDREN – PROTECTING CHILDREN FROM ABUSE AND NEGLECT, VOL. 8 – NO. 1, SPRING 1998. http://www. americanhumane. org/children (2) Jane Waldfogel, BA ME d MPA PhD, professor of social work and public affairs at the Columbia University School of Social Work. http://futureofchildren. org/futureofchildren/publications/docs/19_02_09. pdf (3) Douglas J. Besharov, Scholar at the American Enterprise Institute for Public Policy Research in Washington, D. C. and a visiting professor at the University of Maryland School of Public Affairs. See RECOGNIZING CHILD ABUSE: A GUIDE FOR THE CONCERNED (1990). ttp://www. welfareacademy. org (4) DeShaney v. Winnebago County Department of Social Services Trial. Sec. 1983 of the Federal Civil Rights Act. Http://www. welfareacademy. org (5) National Coalition for Child Protectio n Reform. http://www. nccpr. org 7 (6) U. S. Department of Health and Human Services. The AFCARS Report Availability: http://www. acfhhs. gov/programs/cb/dis/afcars/index. htm (7) Child Abuse and Neglect Statistics distributed by National Clearing House On Child Abuse/Neglect. Http://www. calib. com/nccanch/pubs/factsheets/canstats. com

Business Strategy - merger and acquisition Essay

Business Strategy - merger and acquisition - Essay Example On the other hand, increased competition is likely to persuade firms to explore various channel alternatives available to them in an attempt to extend their coverage. For Able Corporation, identification of new opportunities may or may not mean their giving up their traditional lines of distribution. Much depends on whether the new system is seen as being innovative. If the firm sees potential benefits accruing from adopting a distribution system which does not fit with those currently used by competing firms in the market, it is likely that they will test these in conjunction with the tried and tested methods currently under use. Mergers and acquisition policy is undoubtedly the most radical growth strategy open to management in that it represents a deliberate attempt to change the nature of the business. Acquisition policy can be further classified into backward, forward and horizontal integration. Acquisition policy occurs when the new business is related in some way to the old on e. Firms have sought to gain greater control over the source of raw materials or the supply of components by some form of backward integration. The main strategy for Able Corporation is to improve its market position and increase market share based on the strategy developed by the President. The new strategy is a logical development of the solutions and corporate vision adopted by the President. Today, Able Corporation needs a strong partner to compete on the market and Walden International will help it to increase market share and remain competitive (Bridges 2003). The second step is to show financial and business opportunities proposed by the merger with Walden International. Investment decisions should be carefully examined by both firms because investment are long run decisions where consumption and investment alternatives are balanced overtime. There are many similarities between short-run and long-run decision making, for example, the choice between alternatives, the need to consider future costs and revenues and the importance of incremental changes in costs and revenues but there is the additional requirement for investment decisions that, because of the time scale involved, the time value of the money invested must be considered. The time scale also makes the consideration of uncertainty and inflation of even greater importance than when considering short-term decisions. That is why the strategic investment planning process is a series of logical steps that have to be worked through in order to arrive at a logical 'common format' for th e implementation of strategy and marketing plan (Sterman, 2000). Taking into account financial statements of Able Corporation it is evident that the company cannot "capture greater share in the two growing segments of the power tool market" without strong business partner. Also, it is important to take into account that "top management has come to realize that it seriously miscalculated the underlying financial health and market position of Able Corporation" (case study). The third step is to persuade the President that the super-ordinate goal of most businesses is survival and this may only be achieved by pursuing strategies of growth. While it is difficult to

How to Manage Diffrent Groups In Leisure Industries Essay

How to Manage Diffrent Groups In Leisure Industries - Essay Example Many management authors that effective management of people is the most important trait of a successful manager have underlined it. In leisure industry we find people who are the obvious elements like- mangers, employees and clients. Then there is another set of people who are indirectly related like the performers, spectators, technicians etc. There are various theories on who is more important and who is not. But regardless of the hierchy, everyone's coming together is most important. For example if a concert is to be organized, it would involve some managerial person to select the venue, a marketing person to promote the concert, a public relation officer to co-ordinate various agencies involved, a performer to deliver, some technicians to take care of the technical side, security personnel to manage the crowd etc. The people involved to run the Leisure industry can be at different levels and different status. All of them need to be handled differently. They are much different from the material resources. A material source actually becomes a resource only when a human resource makes it productive. For example, a microphone turns into a resource only when a singer uses it to perform. Therefore the management of human resources is very important and needs to be tackled at a different level. This is a complex task because unlike material resources, one can never be sure of the returns from the investment made on the Human Resource. Storey 1995, has defined Human Resource management as the distinctive approach to the employment management. He says the motive of correct employment management is to get a competitive advantage. For this it is important to have a strategic deployment of a highly committed and capable workforce. It may require an integrated array of cultural, structural and personnel techniques. But the limiting factor of this theory is that it is focused on productivity and profit. For a long-term benefit, both for the organization and the employees, it is better to view the employees or the work force as capital and not as cost. When they are considered as cost, the focus is to get the maximum profit from their inputs. But when they are treated as capital then one has to invest more in them to increase their productivity. In a service-oriented industry like the leisure industry, this becomes even more significant as the product - pleasure- is intangible. The involvement of the customer is a must. Most importantly, the production and consumption of the product happens simultaneously. Like in a concert, the production, that is rendering of music, and consumption i.e. listening and enjoying the music, take place at the same time. Categories of Human Resources The leisure industry comprises of volunteers and paid workers. These two different type of people need to be handled in different manners. Then there is a segment in the paid workers that is referred to as professionals. For example- in a concert there could be some celebrity management experts to co-ordinate with the star performers. There could be marketing experts to help design the promotion of the event. Along with the professionals, there are some volunteers also. Volunteers Some people involved in the Leisure industry could be Volunteers. According to Stephen, 1991, these people

Privatisation Essay Example | Topics and Well Written Essays - 750 words

Privatisation - Essay Example However, it can be argued that since 1978, the country is experiencing gradual process of transition from centrally planned economy to an economy where the resources are allocated through market mechanism (Kikeri & Kolo, 2005). Nonetheless, the economic reform in China has had a profound impact on the economic system of the nation over the last two decades but the nature of the transition is still identified to be incomplete. It has been observed that prior to price reform in China, it acted as an instrument for state’s redistribution policies. Correspondingly, it has been ascertained that during the regime, central government controlled the process of all the major commodities. However, the price reform in China has led to the commencement of ‘freely-operating market signals’ almost in all the sectors of the economy. The price liberalisation facilitated in responsive supply towards the consumers demand as well as downstream producers which dramatically resulted i n greater allocative efficiency. The price deregulation reduced the state’s role in fixing and guiding prices to a substantial extent. Besides, prior to 1978, the policies of the Chinese government have been firmly based on the principle of self-efficiency while importing only those commodities that could not be produced and at the same time exporting goods only to pay for imports. Notably, trade constituted only a small proportion of the Chinese economy. In other words, trade was monopolised and predominately controlled by the central Government ministries. The trade liberalisation policy in China has dramatically led towards encouraging foreign investment and trade while it also resulted in determining the increasing imports and exports by market forces reducing the State’s control over the international trade. Correspondingly, this process led to the increased participation of private firms thus reducing the State dominance (Mina & Perkins, 1997). The

Normal Distribution Essay Example | Topics and Well Written Essays - 500 words

Normal Distribution - Essay Example For a group of statistics to be reliable, they need to have a normal or bell-shaped curve. In order to help achieve this outcome, the mean will need to be as close to the center as possible. Also, the standard deviation will likely be small in order to help the curve remain tall and narrow. The reason why normal distribution is so useful computationally is that it allows us to make conclusions from the data at hand. Let’s say, for instance, that a graph was skewed either to the left of the right. It would be very hard to come to any conclusive theories based off the data. This is because the data would not be reliable and could not be used to make any assumptions. Normal distribution is symmetrical, so it is easy to make conclusions just by looking at it with the naked eye. Other forms of data may require detailed calculations in order to make an inference or hypothesis. If a curve displays normal distribution, then the mean will be exactly the same figure as the median and the mode. Also, the standard deviations will be within a set range of numbers. If a curve is bell-shaped, then more than two thirds of the distribution (68%) will lie between one standard deviation of the mean. More than this, 95% of the data will be located within two standard deviations of the mean. All these figures are useful when working out probability. It is possible to say that there is a certain percent of a variable falling within a certain range on the graph. The tests such as Goodness of Fit, Independence, and ANOVA all use other distributions because the data is not symmetrically aligned. It could be that the distribution is skewed, either to the left or the right, and thus it is not possible to come to a conclusion simply by looking at the graph. The occurrence of outliers is also likely in such a case. One such method is the Chi-square

Answer HR Question Essay Example | Topics and Well Written Essays - 500 words

Answer HR Question - Essay Example Form job seekers perspective, e-recruitment gave them the advantage of centralized job search and resume building services. Therefore, job seekers do not have to spend time looking for an opening in multiple newspapers. Number of options is available to employers for announcing their vacancies on internet. Most simple and cost effective approach is to maintain vacancy page on the employer website. Second, is to use specialist agency that has its operations on internet. These cyber agencies provide various advantages ranging from receiving resumes to short listing candidates. Third category is the jobsites linked to newspapers and journals. These websites republishes the advertisements, printed in careers section of newspapers. Similarly, there are jobsites operated by employment agencies. There are certain employment agents that have their presence on internet. Anyone who has access to internet, can access these channels (Taylor, 2002). It is up to the employers to select the medium he wants to advertise his vacancy. Some of these mentioned sources provide with extra services like online resume building, cover letters etc. Internet recruitment offers a number of advantages to recruiters. This method costs less than other methods of recruitment. It can save enormous time and efforts spent in recruitment process. Furthermore, internet can gather a large pool of applicants, as recruiting medium. However, it raises some issues for example, as the number of applicant increases, more be the chances of unqualified applicants sending their resumes. Similarly, some qualified candidates who do not have access to internet are not able to apply. Privacy is also an issue because you share your information on websites that can violate certain laws (Mathis, Jackson, 2007). Therefore, sometimes advantages of using internet for recruitment purpose turns into disadvantages. On one hand, e-recruitments save our money and

Article Essay Example | Topics and Well Written Essays - 500 words - 10

Article - Essay Example The article notes that Just-in case distribution helps companies to reduce the cost of keeping large stock by ensuring just in time supplies. In addition, the just-in case distribution also aids in reducing the cost of transportation since shipping of goods is on demand. The article asserts that the just-in-case plan was a response to the vulnerable just-in-time supply chains. The article notes that just-in-time management exposes companies to a greater risk of running out of merchandise in case of disruptions. Indeed, the article reckons that combining the just in case with just-in-time strategy was a means of seeking to a balance between holding the minimum inventory possible and yet never running out of stock. The just-in case just-in time distribution strategy expands and increases the network of distribution centers hence reducing the distance by moving the inventory more close to the customers. Apparently, the article shows that companies can achieve greater efficiency upon transporting its goods to the customers immediately. As such, many companies seek competitive advantage amidst stiff competition arising in market by offering excellent customer service. Multiple and strategically place distribution channels help in minimizing the time, money and distant spent in delivering merchandise to the customers. However, the article observes that retailers often avoid transporting merchandise to the last miles by directing the nearby customers to collect their merchandise from the nearby shop. From the content of the article, I feel that the Just-in-case  is an effective strategy in supply chain management. Indeed, the just-in-time management exposes companies to a greater risk of running out of merchandise in case of disruptions. I therefore relate the article with the benefits of the just-in case management that allows retailers to enjoy a lot of stability since there is efficient distribution of goods and they do not have to rely on one

Sustainment of The Mini Cases of the Industry Essay Example for Free

Sustainment of The Mini Cases of the Industry Essay Introduction We live in an environment which changes often. In the business world, what is in demand today for an organization may not be a requirement for tomorrow. Smart managers know that organizations that succeed do so because they adjust to keep up with the changes that are taking place (Harmon, 2007). Change in business comes in many forms and affects companies in every industry. Business today is one of the dominant institutions in society. Businesses are established with the sole purpose to provide a product or service to a customer with the intent to make a profit. Once established, every company wants to improve the way it does business to produce things more efficiently and to make a greater profit. Every manager understands that achieving these goals are part of his or her job. For the business they must create a strategic vision for long term sustainability. By adopting sustainable practices, companies can gain a competitive edge, increase their market share, and boost shareholder value. This paper will identify as points of discussion the value chain and competitive forces in Porter’s model based on ‘The Mini-cases: 5 companies, 5 strategies, 5 transformations article and cases; and the affects did Information Technology have on the sustainability on those five organizations. Case Background 1. Identify the value chain and competitive forces in Porter’s model. Based on â€Å"The Mini-cases: 5 companies, 5 strategies, 5 transformations† article and cases. 2. What effect did IT have on the value chain and competitive forces of those organizations? 3. What are some of the changes to the value chain and competitive forces when an organization responds to sustainability? Value Chain Analysis Early as 1979, Michael Eugene Porter introduced the concept of the value chain analysis. A value chain analysis allows a firm to understand the parts of its operations that create value and those that do not (Ketchen Hult, 2007). Understanding these issues is very important because the firm earns above average returns only when the value it creates is greater than the costs incurred to create that value (Porter, 1985). The value chain is a template that a firm uses to understand their cost position and to identify the multiple means that might be used to facilitate implementation of a chosen business-level strategy (Alcancer, 2006). The value chain shows how a product moves from the raw material stage to the final customer. A firm value chain is segmented into primary and support activities. Primary activities involves with a product’s physical creation, its sale and distribution to buyers, and its service after the sale. The primary activities include five generic categories which are comprise in competition in any industry covering inbound logistics, operations, outbound logistics, marketing and sales and services (Porter, 1985). Support activities provide the assistance necessary for the primary activities to take place, which are firm infrastructure, human resource management, technology development, and procurement (Porter, 1985). Competitive Advantage Concept From the activities done in a business or in its supply chain, a firm has a competitive advantage when it implements a strategy competitors are unable to duplicate or find too costly to try to imitate (Barney Clark, 2007). As Michael Porter comments, â€Å"Strategic fit among many activities is fundamental not only to competitive advantage but also to the sustainability of that advantage. It is harder for a rival to match an array of interlocked activities than it is merely to imitate a particular sale-force approach, match a process technology, or replicate a set of product features. Positions built on systems of activities are far more sustainable than those built on individual activities† (Porter, 1996). An organization can be confident that its strategy has resulted in one or more useful competitive advantages only after competitors’ efforts to duplicate its strategy have ceased or failed. Mr. Porter makes the essential point that competitive advantages and the dif ferences they create in firm performance are often strongly related to the resources firms hold and how they are managed. Resources are the foundation for strategy, and unique bundles of resources generate competitive advantages that lead to wealth creation (Bush, Greene, Hart, 2001). Better Place Founded by Israeli entrepreneur Shai Agassi in 2007, Better Place developed a system where electric-car owners could drive their vehicles into a network of stations around Israel and replace the cars battery with a new one in about the same amount of time it takes to fill a gasoline tank on a regular car. The quick drop system was supposed to remove one of the main obstacles to the adoption of electric vehicles, namely the several hours it takes to recharge a flat battery (Pearson Stub, 2013). Better Place use information technology in the value chain model by outsourcing to companies that have integrated the electric car into its policies. Better Places business model was based on car owners paying a fee according to the number of miles they drive. The competitive force that influenced the Better Place Company was the demand for the electric car filling stations. It has also positioned itself to be the first to reap the benefits when battery pack recharging facilities and infrastruc ture are more universally accepted by having proof-of-concept in hand in leading-edge nations. Nike Senior managers of Nike understanding that disposing of waste in an environmentally-friendly manner is crucial to business sustainment implemented a zero waste policy. While looking into manufacturing, they found it took three shoes worth of material to produce just two- one pair of shoes (Berns, M., Townsend, A., Khajat, Z., Bagopal, B., Reeves, M., et al. (2009). Previous statistics exhibited that the company was spending over $700 million a year on waste management. The organization could not sustain productivity and made waste management a main priority. From these actions evolved strategic long term goals to eliminate zero toxic materials, closing loop systems, and to sustain growth and stability. In order to deliver a value product and service to its customers and employees, Nike realizes that survival depended on creating a supply chain with several big companies like Dow, BSAF, and DuPont. The value of intangible resources, including knowledge allowed Nike to create capabilit ies to gain a competitive  advantage. Outsourcing played a major role in Nike competitive force. Nike understood that engaging in effective outsourcing increased their flexibility, mitigated risks, and reduce their capital investments. Outsourcing proved to be effective because Dow, BASF, and DuPont possessed the resources and capabilities required for Nike to achieve competitive superiority in all primary and support activities. Under the new design and productions methods, product waste was reduced by up to 67 percent, energy use was cut by 37 percent, and solvent use was slashed by 80 percent (Berns, M., Townsend, A., Khajat, Z., Bagopal, B., Reeves, M., et al. (2009). Research suggest that few companies can afford to develop internally all the technologies that might lead to competitive advantage. By nurturing a smaller number of capabilities, a firm increases the probability of developing a competitive advantage because it does not become overextended and can fully concentrat e on those areas in which it can create value (Linder, 2003). Rio Tinto Rio Tinto a mining company with a large area of operation obtained what it calls a â€Å"social license to operate† which supported the organization’s plan to protect the environment and create economic opportunities. The local community was not acceptance of another project that will affect the environment. Over half of the island had already been demolished from farming; grazing and charcoal production. (Berns, M., Townsend, A., Khajat, Z., Bagopal, B., Reeves, M., et al. (2009). After a decade of operation and a sense of urgency, the company decided to transform in the mining area. In order to gain acceptance of the community, management created a strategy to protect the environment and generate financial opportunities for the employees. The strategy served as a competitive force by building a positive relationship within the community by providing training, employment, protection of raw materials, financial resources, and establishing global polices. General Electric With energy, water usage, wastes, and carbon emission on the decline within most companies, General Electric realized that the growth in population would affect the companies’ sustainability. They say an opportunity to engage and help other companies create goals for sustainment. This was  chance for the company to utilize the value chain by providing their assistance and also making a profit. General Electric partnered up with other businesses to make the best decisions about which operation to support and which product to purchase for the future. They jump on the idea of energy conservation first within the company and its employees. Within the company, General Electric began engaging employees to see where energy savings could be found. That might be turning off the lights when a factory was idle, or even installing a switch so that lights could be turned off. They also created projects which involved installing LED lights on a factory floor, recycling water at a nuclear facility, and offering combined heat and power generation units at a plant in Australia (Berns, M., Townsend, A., Khajat, Z., Bagopal, B., Reeves, M., et al. (2009). These efforts prove to be beneficial for sustainability by saving the company over $100 million dollars. Wal-Mart Wal-Mart, one of the top producing merchant in the world have been trying to progress in zero waste and producing products that will not harm the environment. The technology to concentrate liquid detergent has been available for more than a decade, but was little used due to lack of interest in commercialization. Partnering closely with its suppliers, Wal-Mart made the decision to offer only concentrated detergent, and leading manufacturers began transforming their facilities to accommodate this request, leaving less capacity for old-fashioned detergents with high water content. This encouraged other retailers to move toward selling only the concentrated version of liquid detergents. In 2005, Wal-Mart initiated a partnership with Unilever to dramatically reduce the packaging of its â€Å"all ®Ã¢â‚¬  detergent. Wal-Mart helped bring the product to market by promising equal or greater shelf space despite the smaller product size (Wal-Mart, 2007). This business decision enabled the companies to produce a more powerful detergent, reduce waste and in return use less plastic, cardboard and water. There was a positive impact on Wal-Mart for reducing waste which also affected the landfills (Berns, M., Townsend, A., Khajat, Z., Bagopal, B., Reeves, M., et al. (2009). As this became the standard for manufacturing companies, Wal-Mart set the bar for their competitive manufactures. The competitive force gave Wal-Mart the leading edge to ensure customer  acceptance, promoting the benefits of concentrated detergent and adding value by its their environmental benefits. Conclusion Some researchers believe that by moving toward ecological sustainability, business firms gain a competitive advantage. The five organizations listed in the article ‘The Mini-cases: 5 companies, 5 strategies, 5 transformations article and cases† have embraced the idea of being proactive through partnership can confer a competitive advantage by saving money, attracting green customers, promoting innovation, and developing skills. While these organizations implemented strategies for sustainability, information technology affected the value chain and competitive forces by motivating firms to form partnerships as a way to effectively cope with the changes occurring in the market. Through information technology firms gain access to their partners’ other partners. Having access to multiple collaborations increases the likelihood that additional competitive advantages will be formed as the set of shared resources and capabilities expands (Olhager Rudberg, 2003). In turn, being able to develop new capabilities further stimulates product innovations that are so critical to strategic competitiveness in the global economy (Klienschmidt, Brentani, Salomo, 2007). Reference Alcancer, J. (2006), Location choices across the value chain: How activity and capability influence co-location, Management Science, 52, 1457-1471 Barney, J.B., and Clark, D.N. (2007) Resource based theory: Creating and sustaining competitive advantage, New York Oxford University Press Berns, M., Townsend, A., Khajat, Z., Bagopal, B., Reeves, M., et al. (2009). The Mini-cases: 5 companies, 5 strategies, 5 transformations. The Magazine MIT Sloan Management Review Special Report. Retrieved from http://files.meetup.com/1325336/MITSloan%20Mgmt%20Review%20The%20Biz%20of%20Sustainability.pdf Brush, C.G., Greene, P.G., Hart, M.M. (2001) From initial idea to unique advantage: The entrepreneurial challenge of constructing a resource base, Academy of Management Executive, 15(1) 64-78 Harmon, P. (2007) Business Process Change: A Guide for Business and BPM and Six Sigma Professional (2nd Ed) pg 31 Retrieved from http://site.ebrary.com.ezproxy.trident.edu:2048/lib/tourou/docDetail.action?docID=10201856lpg=31 Ketchen Jr., D.J. Hult, G. T. M. (2007) Bridging organization theory and supply chain management: The case of best value supply chains, Journal of Operations Management, 25: 573-580 Kleinschmidt, E.J., Brentani, U., Salomo, S. (2007), Programs: A resource-able base view, Journal of Production Innovation Management, 24; 419-441 Linder, J.C., Jarvenpaa, S., and Davenport, T.H. (2003) toward an innovation sourcing strategy, MIT Sloan Management Review, 44(4); 43-49 Olhager, J. Rudberg, M. (2003), Manufacturing Network and Supply Chains: An operations strategy perspective, Omega 31(1); 29-31 Pearson, D. Stub S. T. (2013) Wall Street Journal: Electric-Battery Venture Better Place to Liquidate Retrieved from http://search.proquest.com.ezproxy.trident.edu:2048/docview/1355407057 Porter, M.E. (1985) Competitive Advantage, New York Free Press 33-61 Porter, M. E. (1996). What Is Strategy? Harvard Business Review, 74(6), 61-78. Retrieved from http://web.a.ebscohost.com.ezproxy.trident.edu:2048/ehost/pdfviewer/pdfviewer?sid=00ac6aff-4ae2-4658-a728-7ae17d8211a7%40sessionmgr4001vid=1hid=4101 Wal-Mart Archive (2007): Wal-Mart To Sell Only Concentrated Products In Liquid Laundry Detergent Category By May 2008 Retrieved from http://news.walmart.com/news-archive/2007/09/26/wal-mart-to-sell-only-concentrated-products-in-liquid-laundry-detergent-category-by-may-2008

Developmental Stages Essay Example for Free

Developmental Stages Essay Erik Erikson’s theory of psychosocial development describes the impact of social experience across the whole lifespan. He believed that personality develops in a series of stages. In his theory he explains eight stages through which a healthy developing human should pass from infancy to late adulthood. According to Erikson (1950), â€Å"Each stage builds on the successful completion of earlier stages. The challenges of stages not successfully completed may be expected to reappear as problems in the future†. In Erikson’s first stage, infancy (birth to 18 months), he centers on the concept of trust vs. mistrust where the infants basic needs are being met. During this stage, the child’s relative understanding of the world and society comes from parents/primary caregiver. Infants are especially dependant for food, sustenance, and comfort. According to Erikson (1950), the major developmental task in infancy is to learn whether or not other people, especially primary caregivers, regularly satisfy basic needs. If caregivers are consistent sources of food, comfort, and affection, an infant learns to trust that others are trustworthy. If they are neglectful, or perhaps even abusive, the infant instead learns mistrust in that the world is in an undependable, unpredictable, and possibly dangerous place. As an infant, I was fortunate to experience the love and nurturing that was needed to gain trust from my caregivers. My mother would rock me to sleep while singing or reading to me. As a result, I developed a passion for music and reading. My parents made me feel like everything was going to be alright. I still believe no matter what happens that eventually everything is going to be alright. In Erikson’s second developmental stage, Early Childhood (18 Months to 3 years), he asserts that a child begins to explore his surroundings after they gain control of eliminative functions and motor abilities (Harder, 2002). A child has the opportunity to build self-esteem and autonomy as he gain more control over our bodies and acquire new skills (learning right from wrong). In this stage the parents or primary caregivers help the child by being patient and encouraging, which fosters autonomy in the child. Parents or caregivers who are highly restrictive are more likely to instill in the child with a sense of doubt and reluctance to attempt new challenges. My parents allowed me to explore but not to the point where my safety was in jeopardy. They popped my hand if I reached for the socket, floor heater, ashtray, or anything else that was in harm’s way. It was during this stage of my life that I received praise for things that I accomplished; for instance, using the potty and putting my toys away. I learned how to master certain skills for myself. Erikson believes that the third stage, Play Age (3 to 5 years), is essential to a healthy child. It is during this time that children really learn what they live. They want to imitate adults and others around them. This is the stage where most healthy children begin to broaden their skills through active play of all sorts, including fantasy. They also learn to cooperate with others and to lead as well as follow. Young children in this category face the challenge of initiative versus guilt. Nevertheless, Erikson (1968) said that at this stage children usually become involved in the classic â€Å"Oedipal struggle† and resolve these struggles through â€Å"social role identification†. As a result, the child can be immobilized by guilt. According to Erikson (1950) the child is fearful, hangs on the fringe of groups, continues to depend unduly on adults, and is restricted both in the development of play skills and in imagination. As a child, I remember walking in my mother’s shoes when she was not wearing them. We played dress up and pretended we were queens. My basic family was the most significant relationship. In Erik Erikson’s fourth stage, School Age (6 to 12 years), children are capable of creating, learning and accomplishing new task (Harder, 2002). They are becoming more aware of themselves as individuals and, as a result, they become more reasonable to share and cooperate. They work hard at being responsible, being good and doing it right (Allen Marotz, 2003). Allen Marotz (2003) also list some perceptual cognitive developmental traits specific for this age group. Children understand the concepts of space and time in more logical, practical ways and begin to gain a better understanding of cause and effect and calendar time. At this stage, children are eager to learn and accomplish more complex skills such as reading, writing, and telling time. They also get to form moral values, recognize cultural and individual differences and are able to manage most of their personal needs and grooming with minimal assistance (Allen Marotz, 2003). At this stage, children might express their independence by being disobedient, using back talk, and being rebellious. For myself, I became disobedient but it didn’t take much for them to get me back on track. My parents only had to spank me several times in my life and never for the same thing. If children are encouraged to make and do things and are then praised for their accomplishments, they begin to demonstrate industry by being diligent, preserving at tasks until completed and putting work before pleasure. On the other hand, if children are punished or ridiculed for their efforts or if they feel they are not meeting others (teachers/parents) expectations, they develop feelings of inferiority about their capabilities. In Erikson’s fifth stage, Adolescence (12 to 18 years), he believes up to this stage development mostly depends upon what is done to us. From here on out what we do determines our development (Harder, 2002). The concept of identity vs. role confusion is used in that it is where a child is neither a child nor an adult. The adolescent is concerned with how they appear to others. This is when what was learned early on play an important part of how an adolescent see themselves. For example, if a child learned mistrust in infancy, shame in early childhood, guilt at play age, and inferiority at school age, what are the chances of this child having a positive image of themselves as an adolescent? Our task is to discover who we are as individuals separate from family. As they make the transition from childhood to adulthood, adolescents ponder the roles they will play in the adult world. Initially, they are apt to experience some role confusion- mixed ideas and feelings about the speci fic ways in which they will fit into society- and may experiment with a variety of behaviors and activities. At this stage in my life my Grandma taught me some very valuable things. My grandma farmed a beautiful garden which she kept me involved with. From tiling the land, planting the seeds, and watering the garden I learned a great deal. Not only did I learn about vegetation, I learned about life. My grandma taught me the valuable lesson of reaping what you have sown and how one bad fruit can spoil the whole bunch. I also learned that you have to believe in yourself, as well as believe in a Higher Power. My grandma taught me how to live off the land, but most importantly, she showed me by being a good example for me to follow. Erikson (1968) is credited with coining the term identity crisis because each stage that came before and that follows has its own crisis, but even more so now, for this marks the transition from childhood to adulthood. It is necessary for this passage to take place because throughout infancy and childhood a person forms much identification. As a marked turning point in human development, it seems to be the reconciliation between the person one has come to be and the person society expects him to become. An emerging sense of self will be established by forging past experiences with anticipations of the future. In relation to the eight life stages as a whole, the fifth stage corresponds to the crossroads, a time of great change of the body as well as the mind. Youth is a bridge between childhood and adulthood. Currently, I find myself in Erik Erikson’s sixth stage of development, Young Adulthood (18 to 35 years). Erikson (1950) expressed that young adults are in a stage of intimacy versus isolation. The Intimacy vs. Isolation conflict is emphasized around the ages of 20 to 34. At the start of this stage, identity vs. role confusion is coming to an end, and it still lingers at the foundation of the next stage (Erikson, 1950). In this stage individuals develop intimate and close relationships with others (Crandell, C randell, Vander Zanden, 2009). I find myself struggling with this particular concept extensively. With the type of personality that I have, I constantly look for everyone to like me; therefore I never really established a close and intimate relationship with a significant person that means anything. Zucker, Ostrove, Stewart, (2002) reported that identity certainty may continue to increase over the course of adulthood. I am finding that having tried to make people like me that I lost a part of myself. I lost who I was. In finally having the chance to really experience life with someone who loves me for me, I can focus on doing things for myself as well as doing things for my significant other as well, thus making us both happy in our relationship. Erikson (1950) also argues that Intimacy has a counterpart he calls distantiation which is the readiness to isolate and, if necessary, to destroy those forces and people whose essence seems dangerous to our own, and whose territory seems to encroach on the extent of ones intimate relations. Once people have established their identities, they are ready to make long-term commitments to others. If people cannot form these intimate relationships (perhaps because of their own needs) a sense of isolation may result. In comparing Kohlberg’s and Erikson’s developmental theories, I discovered that I can relate my life to both theories. There have been both internal (Erikson) and external (Kohlberg) forces that have affected my life. Internally, it was the nurturing and love I received from my Grandmother as a child. She also taught me life lessons. Externally, I watched my grandmother care for her grandmother. It gave me a love and passion for caring for the elderly, not realizing that it was also teaching me how to care for her when she could no longer care for herself. In the mention of Erikson’s â€Å"identity crisis†, I realize that most of my life stages were identified by such crises. At the age of 5, I experienced abandonment and rejection from my father. This shaped my childhood and adolescent years around seeking to hurt before being hurt and also looking for love and attention in others. I learned that a child who grows up not receiving a lot of love and affection may later in life look for love in all the wrong places, thus leading to promiscuous behavior, gang involvement, and /or drug use to fill the void. Subsequently, as an adult I found it hard to acquire and maintain intimate relationships. Kohlberg’s moral development theory focuses more on reasoning. Though growing up I never tried to figure out why I was the way I was or why I did the things I did for attention or to get my way, I have begun to look at the reasons behind those actions and have started to correct the negative characteristics of my being. Other factors come into play when speaking of the developmental stages of one’s life. These factors include gender differences, environmental, cultural, and ethnical influences. My father, not having nurturing abilities, failed to realize or comprehend the devastation and effects of his leaving the home had on me. Environmentally, most of us lived off of the land and were friendly to each other. However, most of the environment was that of country living and also racial separation. Culturally, our elderly were not placed in nursing homes but remained in the home to be cared for by family. My grandmother cared for her grandmother who cared for her daughter, one not absent from the other. My grandma instilled in me many morals and values that influenced my behavior today. In conclusion, Erikson’s stages of psychosocial development theorize that there are certain accomplishments that one must encounter to successfully move to the next stage in life. His findings have shown that, in life, sometimes it requires an â€Å"identity crisis† to force an individual into another stage so that person may keep moving forward. There are many different aspects of his psychosocial stages that can shape a person into a healthy human being. Personally, I feel that as growing through each stage of my life according to Erikson, I am on my way to being the perfect role model for his theory. References Allen, K. E., Marotz, L. R. (2003). Developmental profiles (4th ed.). Albany, NY: Delmar. Crain, W. C. (1985). Theories of development. New Jersey:Prentice Hall. pp.118-136 Crandell, T. L., Crandell, C. H., Vander Zanden, J. W. (2009). Human development (9th ed.).Boston: McGraw-Hill Higher Education Erikson, E. H. (1950). Childhood and society. New York: Norton; Triad/Paladin (1977), p. 242. Erikson, E. H. (1968). Identity, youth and crisis. New York: Norton, p. 54 Harder, A. F. (2002). The developmental stages of Erik Erikson. Retrieved from www.learningplaceonline.com/stages/organize/Erikson.html Stevens, R. (1983). Erik Erikson, an introduction. New York, NY: St. Martin’s Press. Retrieved from http://openlibrary.org/books/OL3161476M/Erik_Erikson_an_introduction Zucker, A. N., Ostrove, J. M., Stewart, A. J. (2002) College-educated womens personality development in adulthood: Perceptions and age difference. Psychology and Aging. 17(2), 236-244.

Consumer Perceptions of Non-Banking Financial Institutions

Consumer Perceptions of Non-Banking Financial Institutions Non-Banking Financial Institutions (NBFI) v/s Banks in India – Why NBFI are doing much business than Banks? A study of New Delhi based Upper and Middle Class Consumers. Master of Business Administration ABSTRACT In the era of globalization and liberalization the development of financial sector has played and important role in the economy of India. With the services offered by banks and non-banking financial institutions (NBFI) the life of consumer in India has completely changed. Borrowing is one of the important aspects that have changed the whole scenario of Indian society. Change in the trend of culture of upper middle class consumers, change in the behaviour of consumer regarding borrowing and change in the norms of banks and NBFI regarding borrowing has made life of Indian consumer very comfortable. This research shows how non-banking financial institutions are fulfilling the demand of upper middle class consumers and how they are doing more business than banks and why consumers rely more on NBFI rather than banks in India. This research uses questionnaires, interviews of consumers and direct sales agent of NBFI to examine the consumer borrowing and role of financial institutions. The research concludes that consumers are relying much more on NBFI and it is not risky difficult to borrow loan because of policies norms regarding loans and availability of flexible financial options. CHAPTER 1 INTRODUCTON 1.1 PREVIEW This chapter is introduction about the research topic. It highlights the aims and objectives of the research. It also tells about the structure of the dissertation and the summary of this chapter. 1.2 BACKGROUND INFORMATION Each and every country has its own financial system. Financial system usually consists of financial market, financial intermediaries and financial product or service. Finance in simple words means ‘money’ but finance is a source which provides funds to a particular activity. A financial sector/system acts as an agent to make sure that funds flow from the areas of surplus to the deficit area. A financial market is a place which creates financial assets and exchange of money for goods and services. Financial market consists of foreign exchange market, capital market, credit market and money market. (Web 8) Money is a fascinating thing which attracts human to a great extent. Over thousands of years the process of creating money and using money is making human enthusiastic. Financial intermediaries play an important role in building economy of a country. Financial Intermediaries includes banks, financial institutions, non-banking financial institutions (NBFI), investment companies, pension and mutual funds. (Web 9) Financial sector plays an important role in organizing and properly distributing sharing the savings. Financial sector act as a passage or tube which transfers the financial resources from net savers to net borrowers .ie. from the person who spend less as compared to their earning to those who earn less and spend more then their earning. (Web 10) Indian financial system consists of huge network of banks and financial institutions (including non-banking financial institutions) and range of financial instruments. From the last two decades there have been great improvements in Indian Financial system and there is a huge supply of banking and other financial facilities provided to large population of India. (Web 10) A safe and sound financial sector is required to maintain the growth of an economy. With the help of globalization and change in technology the operating environment of banks and other financial institutions has changed significantly. Due to competition and change in customer demand there is increase in product innovation and change in strategy of banks and financial institutions. In order to face the competition and meet challenges Reserve Bank of India (RBI) has also changed its regulations and provided a new framework. Reserve Bank of India (RBI) is trying to develop a strong, competitive, stable and powerful banking system so that it can help in growth and development of the economy. (Web 11) According to Sarkar (n.d.) a strong, diverse, efficient and flexible financial system plays an important role in the economy of a country. A developed financial system maintains high level of investment and promotes growth in the economy. The financial system in India consists of financial institutions, financial market, financial instruments and services. Indian financial system is divided into two segments- organized sector and traditional sector which is also called as informal credit market. In organized sector financial services are provided to the community by large number of financial institutions which are mainly business organizations. And financial institutions that are providing specialized or provide some extra services are called as banking or non-banking units. Reserve Bank of India (RBI) is the apex institution and regulates the credit. Financial institutions include public and private commercial banks, cooperative banks, development banks, regional rural banks. Where as finance leasing companies, LIC (Life Insurance Corporation), GIC (General Insurance Companies), provident funds, mutual funds, post office banks .etc. are non-banking financial institutions in India. (Sarkar, n.d., pp. 1) RBI is the central bank of India and was established in April, 1935. RBI acts as Government banker, agent, adviser and also act’s as banker’s bank. RBI is the controller of the credit which means that RBI has power to change the volume of credit created by banks. (Web 12) The profitability of banking sector is improved because of reforms set by banking system which results in high operating and net profit. With the entry of private banks there is a huge competition for public sector banks for loaning of funds. With the entry of non-banking financial institutions (NBFI) and Development financial institutions (DFI) the competition in sourcing the funds is also increased. (Chanda, 2005, pp. 31) NBFI act as an intermediary between lender and borrower and provide better, different services than normal banks. NBFI includes investment companies, finance corporations, chit funds, hire-purchase finance companies, loan companies, leasing companies, mutual benefit funds. All of these NBFI have the ability to provide large amount of financial services to wide range of customers from small borrowers to established companies. (Chanda, 2005, pp. 36) Indian consumers are changing their habits at a fast rate and they are borrowing money to buy the product they wanted. Because of easy financing options they don’t have to think if they can afford a product or not. Consumer finance is a win-win situation for every one and now they don’t have to wait for years to save their money and upgrade their living standards. (Agarwal and Mittal, 2004, pp. 6) The Buy Now Pay Later culture is very much common in India now a days. Consumers are loosing their fear of borrowing. Even if a consumer wants to buy a home, home loan financing is easily available. Falling interest rates, increasing loan duration and reduced monthly installments are making all these things possible for consumers. (Agarwal and Mittal, pp. 6-8) The banking sector is one of the most important sectors in Indian financial sector. Over 80 percent of funds which flow in the financial sector are because of banking sector. (Sarkar, n.d., pp. 1). NBFI are entering in the financial sector because of inflexibility of banks and their less competition amongst them. Kotak Mahindra, Citi Financial, Ashok Leyland Finance, Sundaram Finance .etc. are the big players in this field and are growing rapidly at faster rate and are taking good position in financial sector. In respect to all these things, the purpose of this study is to find why these institutions are doing better business than public and private banks in India. 1.3 AIMS AND OBJECTIVES This research is planned to understand and examine the trend of upper class and middle class Indian consumers in taking loans and their reliance on banks and non-banking financial institutions, particularly in today’s competitive environment. This research is done to achieve the following defined objectives: To compare and contrast the role of banks and non-banking financial institutions (NBFI) in India economy. To evaluate the role of both banks and NBFI for borrowing in Indian developing economy. To understand and examine the banking and financial sector regulations in India in post liberalization period. To evaluate and analyze the emerging consumer culture in India. To understand and examine the trend of upper and middle class Indian consumers in taking loans. To examine the policies of banks /non-banking financial institutions regarding offering loans to consumers. To identify how NBFI are fulfilling the aspirations of upper and middle class in India. 1.4 STRUCTURE OF DISSERTATION There are 5 chapters in this dissertation. Chapter 1: Introduction This chapter introduces the research topic. It outlines the aims and objectives of dissertation, overview, structure of dissertation and finally summary of the chapter. Chapter 2: Literature Review This chapter talks about the literature review. Discussion of available literature related to the topic is done. The aim of this chapter is brief about various concepts on which this dissertation is based. The literature is available from various books, online journal articles and websites. Chapter 3: Research Methodology This chapter discusses about various research methods and data collection methods. It discuss about research design, quantitative research, qualitative research, advantages disadvantages of various methods, limitations, validity reliability. Chapter 4: Findings, Analysis and Discussions This chapter analyses all the data collected using different data collection methods. All the data is critically analyzed and discussions are made on the basis of literature which is related to the objectives of research. Data presentation is done using various methods like tables, graphs, charts and pie charts .etc. Chapter 5: Conclusion and Recommendations This chapter concludes the research by providing a conclusion on the basis of findings, analysis and discussions. This chapter also discusses the limitations faced during research and recommendations for future research. 1.5 SUMMARY This chapter was an introductory chapter aimed to give reader a brief idea of what this research is all about. It highlights introduction, aims, objectives and finally structure of the dissertation. CHAPTER 2 LITERATURE REVIEW 2.1 PREVIEW Aim of this chapter is to discuss the literature related to the research topic. This chapter discusses about financial institutions regulations in India, culture of upper middle class consumers in India and worldwide, what makes consumer to borrow and strategies policies of financial institutions regarding credit. 2.2 FINANCIAL INSTITUTION REGULATIONS 2.2.1 Financial Institution Regulations Globally The Changing scenario of banking sector around the world, in the light of globalization has significantly drawn the attention of researchers and practitioners. They have raised important issues regarding corporate governance regulation and banking institutions as corporate governance is related to banking regulations. In this context the research of Alexander (2004) titled Corporate Governance and Banking Regulations requires worth mentioning here. The research of Alexander (2004) addresses the issues of corporate governance and banking institutions. Alexander (2004) begins by analyzing the upcoming international rule of bank corporate governance. Alexander (2004) provides a framework for how bank supervisor and bank management should act together in relation to the management of banking institutions and its impact on financial stability. Further, Alexander (2004) has analyzed corporate governance and banking regulation in UK and USA. Alexander (2004) concludes Financial Services and Market Act 2000 has authorized FSA (Financial Services Authority) to fill in the gaps to enhance corporate governance because traditionally UK corporate governance was not focused on special role of banks and financial institutions. (Alexander, 2004, pp. 1-2) In USA, the federal and state statute regulations regulates the corporate governance for banking institutions. In order to manage the responsibilities of senior management and directors a framework is provided by federal regulation. There is governance problem in banks and financial companies in US. In order to provide financial stability institutions and banks, the bank regulator must establish governance standard in regards to national banking law. (Alexander, 2004, pp. 1-2, 37) In this era of globalization, banking and financial industry is greatly affected by major changes and it results in increased competition, less profit margin, pressure to cut the price, products having short life cycle. (Alexander, 2004, pp. 1-2, 37) However, when it comes to comparison of financial regulations in UK and USA, it is revealed that regulation of financial system in UK is not exact as it is in USA. Evidently in USA the Securities and Exchange Commission has wide ranging regulations, and is stated as too much. Further, it is also stated that formal and strict USA rules procedures do not allow desired flexibility and pace. However, interestingly so far new system in UK provides settlement between the self regulation and statutory regulation to make sure that financial market works in proficient and systematic way. (Web 1) Apart from UK and USA, the regulations of financial market are changing constantly all around the world. For .eg. In Europe the membership of EU changed the main concerns of government while facing the problem of changing or executing the regulation of financial system and it is revealed that issue was the assistance from the jurisdiction. Quinn (1992) says that â€Å"harmonisation of banking rules in the EU, the co-ordination of countries own regulatory standards and centralisation of an EU integrated financial market are needed to enable swift reaction to any future market failure†. (Web 1) 2.2.2 Financial Institution Regulations in India Financial system in India consists of specialized and non specialized financial institutions which further involves organized and unorganized financial market and deals in financial instruments services and it helps in transferring funds. In finance money is exchanged with a promise to pay back in future. Narayanan (2005) says that in product market a buyer can easily find if a product purchased by him is defective but it is difficult to find the defects when a loan is taken. (Narayanan, 2005, pp. 1-2) If we compare Banks and Non-banking Financial Institutions (NBFI) with non financial industries, both banks and NBFI can change or remove the risk factor of their assets more quickly than non financial industries and also banks can easily give loans to clients without taking into consideration the previous debt problems. Financial market easily allocates the resources efficiently and effectively. The financial market face the problem that it is controlled by others because some persons have some information that other does not have. In order to solve this problem there is requirement of corporate governance so that it can be assured that supplier of finance get their return on investment. (Narayanan, 2005, pp. 1-2) India has a strong financial system. After India got freedom it inherited a diverse setup in regards to institution and market. The purpose was to mobilize savings and to increase investment rate. (RBI, 2003, pp. 3) Financial reforms were introduced in 1991 because India faced the crisis of balance of payment in 1991 so several reforms were introduced to come out of the crisis. India faced this problem because it was heavily dependent on the public sector and industrialization strategy and both of them were not able to deliver the growth in competitive environment. Later in 1980’s India tried to expand the role of privatization and reduced the direct tax but it didn’t helped. Later the reforms were introduced in June 1991 to recover from the crisis of balance of payment. (RBI, 2003, pp. 9) After the end of crisis Indian banking system made a considerable progress functionally and geographically. New bank facilities were introduced and the pattern of lending was changed. The feature of reform was ‘gradualism’ because it enhanced micro stability and the same time encouraged micro economic linkages. (RBI, 2003, pp. 5-8) Currently the institutional composition of financial system in India is illustrated as three constituents: banks either domestic or foreign, owned by RBI, government or private and regulated by RBI; Financial refinancing institutions set up under a separate law or under companies act and owned by RBI; Non-banking financial companies/institutions owned privately and regulated by RBI. (Reddy, 2002, pp. 4) On the development of banking and financial sector reforms in India Reddy (2002) comments that reforms have changed the form of organization’s, ownership model, domain of financial institution operations in terms of assets and liabilities. Less availability of low cost fund has resulted in increasing competition for resources for both banks and financial institutions and further with the entry of banks in field of lending and financial institutions are making an attempt to pay out the short term funds has resulted in increased competition. (Reddy, 2002, pp. 4-5) Finally Reddy (2002) says that the aim of financial sector reforms in India to set formal semi formal measures which aim to strength the banking system as well as providing safety and reliability with the means of superior transparency, responsibility, answerability and public trustworthiness. (Reddy, 2002, pp. 6-7) However on the other end Patel (2004) argues that in spite of the establishment of market reforms in India since early nineties the government concerns in the financial sector is not lessened in correspondence to its exit from other feature of economic activity and therefore it is too large to justify the presence on the basis of involving systematic risk. Patel (2004) further puts that during early years of India’s development there might have been some good reasons for ownership of government in intermediaries but now it is causing some damages. (Patel, 2004, pp. 5-6, 28-29) Now India has proper intermediaries and very well commercially oriented. According to Patel (2004) â€Å"A combination of directing resources of intermediaries in fulfilling a quasi-fiscal role for government, extra-commercial accountability structures and regulatory forbearance (arising out of an implicit overarching guarantee umbrella) has mitigated the essential corrective effect of market discipline in both lending and deposit decisions. Coupled with persisting government involvement in intermediation and an implicit support scaffold, this has resulted in an aggravation of the problems of moral hazard that is a normal feature of financial systems.† (Patel, 2004, pp. 29) Commenting on the government role in liberalized economy Echeverri-Gent (2001) says that reducing state economic interference does not lessen the importance of state in economic development. And in addition to its role of maintaining stability in economy the state continue to play small but more important role to design and modify the activities of economy by creating incentives. There are different ways that are used by state in order to create the incentives; it involves authorization of property right, market microstructure which involves matching the investors demand with the price and volume in effective and efficient manner. (Echeverri-Gent, 2001, pp.1) (Giridhar, n.d., pp. 1-3) Echeverri-Gent (2001) also states that incentives created and recreated by state using political process are present in part of economic result. And politics explain efficiency and fair behavior in market are promoted by which state institution. (Echeverri-Gent, 2001, pp. 1) In relation to the above fact Ramesha (2003) finds that currently in India there is a dual control for credit cooperative and banks. The state government looks after and regulated all the issue related to administration where as Central Bank of India (CBI) supervises and regulates the banking operations. As a result there is some conflict in taking legal decisions between state government and central banks of India. Ramesha (2003) argues that it is not possible to separate the financial administrative areas for regulations and even if it is possible it acts as an obstacle in the effective supervision and control. (Ramesha, 2003, pp. 10-11) Further according to Ramesha (2003) central bank has power under Banking Regulation Act to keep money for specific purpose and to handle vital aspects related to the performance of commercial banks. There is need of Registrar of Cooperative Societies to get involved in the function and difficulties of cooperative banks. The central bank is not in a position to supervise credit cooperatives and banks. Therefore dual control affects the function of urban cooperative banking sector, supervision regulation quality. Therefore Ramesha (2003) finds that beneath this rule of duality of control the urban cooperative banks might result in neither cooperative nor commercial bank. (Ramesha, 2003, pp. 10-11) According to Chakrabarti (2006) the fundamental role of legal reforms in maintaining the growth of economy and financial progress is strongly voted and accepted in India. Where as it is difficult to find what basics of legal system have an effect on financial system and how. Reviewing the literature on law finance and evaluating the India’s legal judicial system it seems that excellent protection is provided to the investor’s right. (Chakrabarti, 2006, pp. 12, 15-20) According to Porta et al there is best protection provided to the creditor in India by Indian legal system in contrast to creditor rights. (1998 in Chakrabarti, 2006, pp. 13) But execution of these laws is below to the satisfactory level. Further it is found that law which deals with public enforcement of securities is weak and courts in India are very slow and has loads of ongoing cases. India is still fighting with the problem of red-tapism and bureaucracy which are obstacles for business and foreign investment in India. Chakrabarti (2006) says that Indian small medium sector rely on informal network and institution on the basis of trust and reputation for financing rather than counting on legal system to issue contracts and settle disputes. (Chakrabarti, 2006, pp. 23) Finally, Rajan and Shah (2003) says that there is problem in the regulations of banks, insurance companies and non financial institutions. There are a lot of problems related to the government guarantees, public sector ownership, processing of information risk taking. Therefore according to Rajan and Shah (2003) there is requirement to solve all these problems by obtaining good regulatory system, and obtaining world class regulations. Thus Rajan and Shah (2003) suggests that dealing with these problems will provide information processing system, reducing the fiscal problem, increasing the flow of risk capital in the system. (Rajan and Shah, 2005, pp. 46) 2.3 CULTURE OF UPPER AND MIDDLE CLASS CONSUMERS The word culture has several meanings, in Latin it means â€Å"tilling of the soil† whereas in most western language culture means â€Å"civilization† or â€Å"refinement of mind†. In simple words culture means way of life, art, behavior and beliefs. (Hofstede and Hofstede, 2005, pp. 2-4). According to Mooij (2004) culture is glue which joins groups together, without culture design it will be difficult for people to live together. It’s only the culture which defines a human community, its individuals and social organizations. (Mooij, 2004, pp. 26) Where as according to Kluckhhohn â€Å"Culture consist in patterned way of thinking, feeling and reacting, acquired and transmitted mainly by symbols, constituting the distinctive achievement of human groups, including their embodiments in artifacts; the essential core of culture consists of traditional ideas and especially their attached values† (1951, pg 86 in Hofstede, 2001, pp. 9) Each and every individual is a product of its culture and its social group therefore they have to act in certain manner to live in their social cultural environment. Culture cannot be separated from an individual neither culture can be separated from historical events/situations. (Mooij, 2004, pp. 26) Culture is found in local street, in your city, state, and country. Small children, youngsters, adults, older people have their own culture and most of the times share the culture as well. According to Williams culture is a way of life, people, group or humanity. Culture is not something we absorb- it is something that is learned. (1983b:90 in Baldwin et al, 1999, pp. 4-7) Culture includes shared beliefs, attitudes, norms, roles and values. These elements are basically transferred from generation to generation. Culture includes values, rituals, heroes, symbols. Values are basically feeling of a person having plus and minus side. It deals with evil v/s good, dirty v/s clean, ugly v/s beautiful .etc. values are acquired by a person at very early age in their lives. Values are visible until they become evident in behavior. In contrast to values, rituals are related to social acts, ceremony or something related to religion. Rituals are carried out by an individual for their own sake and usually involve paying respect to other ways of greetings. Heroes are persons alive or dead, real or imaginary whose characteristics are highly appreciated in culture and most of the times serves as a model for behaviors. For eg. Mahatma Gandhi in India or Bill Gates in USA. Symbols are words, gestures, pictures or objects that carry a particular meaning and are recognized by only those people who share a particular culture. It involves national flag or any particular dress or hair style .etc. (Hofstede and Hofstede, 2005, pp. 6-8) (Hofstede, 2001, pp. 9-11) The culture of people around the world is demonstrated in wealth celebrity and this is particularly true about people in western countries. According to Schor (1998) â€Å"Instead of emulating folks with a similar income, people are taking their consumption cues from television characters, relatives, friends and co-workers whose income often far exceeds their own†. Commenting on this trend Schor (1998) states that this can get expensive because it seems that their culture worship wealth and celebrity. (Web 14) There are 3 layers of culture. The outer layer consists of explicit culture and it involves language, food, houses, monuments, market, fashion and art. These are the symbol of deeper level of culture. Middle layer consists of norms and values. Norms is basically sense of what is right and what is wrong. Norms can be written laws or social control where as values determine what is good and what is bad. Values help in making choice from existing alternatives. And the third core layer is assumptions about existence which is related to the ways that deal with the environment with the available resources. (Trompenaars and Hampden-Turner, 2005, pp. 20-24) Hofstede and Hofstede (2005) has divided cultural layer as national level, gender level, generation level, social class level and regional/ethical level. National level is related to ones country or the country where a person belongs and with nation they have their culture, community. Gender difference is basically based on gender .ie. male or female. In some societies the culture of male is different from female. For eg. Women are not suitable for some particular jobs which are meant for men only. Generation level is separating grandparents, parents and children. For eg. Younger generation has no respect for the values of elders. Social class level is associated with individual’s profession and education because education and profession are the powerful sources of cultural learning. Regional level is based on person’s region and religion. (Hofstede and Hofstede, 2005, pp. 11-12) Today consumers are very much concerned with their identity, ego or superego which totally depends on their culture and most of the times related to the luxuries of life. Human needs are totally related to the culture. Needs like Psychological, safety, self actualization and esteem needs are very much important for consumers of each class. Consumers feel more powerful if they have symbols of power or prestige possessions. For e.g. Prestige possession for consumer is luxury car, big house, frequent travel abroad/holidays abroad. Clothes satisfy functional need but fashion satisfies social need. The behavior of consumer is not only determined by their needs but also by their surroundings. Consumers in same culture can do different things for different reasons. Ownership of luxury items shows the status symbol where ownership of cheap watches show low income of person. (Mooij, 2004, pp. 136-140) 2.3.1 Culture of Consumers Globally Schor (1998) also comments that how you save and spend totally depends on the reference that you choose and it rules the culture of upper and middle class, particularly in western culture of world. In order to make his observation solid Schor (1998) presents example of Americans, where he shows his concerns regarding consumerism. Schor (1998) states that Americans are spending and consuming as if there is no tomorrow, and the worst part is that they are not paying cash for it. Consequently, Schor (1998) cites that debt of personal credit card has doubled in last four years. The bankruptcy has reached on to the highest point and people are trading financial security for short term satisfaction. (Web 14) Schor (1998) also points out that the assets of an American family is $10000 and savings have fall down very quickly in last 10 years. In other words the western culture today commanded by influencing consumers, which forces the people to believe in wealth creation celebration and in result it leads to the tendency of high borrowing. (Web 14) Consumer research has given some evidence that within each social class, there are some specific lifestyle factors which involves beliefs, attitudes, activities and behavior. And all these factors help in distinguishing between the members of one class from other class. There are usually three main classes upper class, middle class and lower class. (Schiffman and Kanuk, 2000, pp. 307) A product can also express the value of consumer. For e.g. A house is not only to live but it tells something about the owner as well. Different towards food is also a part of the culture. Some people buy food from small shops where as some buys from expensive supermarket. Product usage and ownership also determines cultural values. (Mooij, 2004, pp. 233-236) In India the position of consumer in society is defined by the clothes they wear, the shoes, the accessories .etc. and all these things determines the class and power of a particular person. People do not wear in public what they wear in private, but in USA even Pr

Human Resource Interview Essay -- essays research papers fc

Human Resource Management Interview Contents I. Introduction...............................1 II. Organization Information...................1 III. Background Information.....................2 IV. Role of Human Resources....................3 V. Performance Appraisals.....................5 VI. Closing....................................6 VII. Works Cited................................7 Introduction Human resource management is part of the human resource approach, which is evidently geared to allow organizations to benefit in two significant ways: increasing in the organization’s effectiveness and satisfying all of the employee’s needs. Organizational goals and employee needs are considered mutual and compatible in this approach, instead of simply addressing them as separate things. In other words, one need cannot be gained at the expense of the other (Human Resource Management... 6). The human resource manager in charge of the corporate office of a large brewing company, and also the manager that I interviewed, is Lori Fulmer. Mrs. Fulmer is the benefits and risk manager of Gordon Biersch. Organization Information Dan Gordon and Dean Biersch founded their first restaurant in Palo Alto in 1988. What began as a single restaurant brewery collaboration soon turned into a chain. A little over two years ago, Trolley Barn Breweries Holding Company, which consists of many Big River Grille restaurants, Rock Bottom, A1A Ale House and Seven Bridges Bar & Grille, purchased the rights to the Gordon Biersch restaurants. The new company still retains the Gordon Biersch name. The two founding members still run the brewery based out of Las Vegas, Nevada. The lucrative merger blends the West Coast brewing style, which uses the unique German style of brewing, with the one of a kind microbreweries of the East. This merger incorporated twenty-five restaurants and two more have opened in the past year. Gordon Biersch corporate offices are responsible for controlling the success that is obtained throughout the restaurant. The total amount of managerial staff is more or less than 225 people. This includes everyone from the CEO all the way down to the corporate staff. The total amount of employees throughout the chain of restaurants and breweries, including the corporate offices, is somewhere ar... ...e implemented and analyzed. The information obtained maximizes the worker’s performance and organizational effectiveness. The audit levels the playing field for evaluations by clearly identifying employee strengths and training needs. After the appraisal has been sent to corporate, merit increases are awarded based on the scoring. Closing   Ã‚  Ã‚  Ã‚  Ã‚  The prevailing notion that I learned from this interview is that an employee is a firm’s most important asset. The Human Resource department controls the well being of the employee and their importance is often underestimated. At Gordon Biersch, the HR department is one of the first places looked at if/when prices need to be cut. If ever I am in a managing position, I now know to respect the worker, first and foremost. Having a strong a committed HR department will assist in achieving this goal. Works Cited Carrell, Elbert, Hatfield. Human Resource Management:   Ã‚  Ã‚  Ã‚  Ã‚  Strategies for Managing a Diverse and Global Workforce. The Dryden Press. Fort Worth, 2000. The Gordon Biersch Webpage   Ã‚  Ã‚  Ã‚  Ã‚  

Online Shopping: Product Availability and Logistics Essay -- The Logis

Table of Contents Introduction 1 Online shops, Logistics and the Last Mile Problem 3 The E-Commerce Platform’s Accessibility and Availability 6 Efficient Customer Response and Quick Response 8 Conclusion 10 References 11 Introduction Online shops are an alternative to traditional shopping methods, but do they solve product availability issues in a viable way, and are traditional shopping methods preferred over online shopping? Morris, B (2013) points out that more consumers prefer online shopping as 70 % of 3,000 online shoppers surveyed in February 2013 in a study performed by the United Parcel Service Inc. (UPS) say they would rather shop their favorite retailer online. This can only lead us to understand that a relatively large number of customers choose to satisfy their needs in an online platform. At first sight, it might be possible to speculate and assume that the reasons many of these customers choose to follow this path derives from qualities that include but are not limited to the ease-of-use, reliability, platform availability and accessibility as e-commerce platforms are accessible and available round the year, only as long as access to the internet is on hand (Gao, N.A.). It is accurate to pry into these qualities and strive in the possible relationship they might have with a term such as customer satisfaction, which could be prematurely answered if the fact that such terms describe the benefits online platforms have. As opposed to those found within traditional shopping methods. Moreover, Morris, B. (2013) showed that UPS (a logistics and package delivery company) had a positive overall customer satisfaction score of 83% which not only explains why the â€Å"back-end of the online shopping experi... ...s.com/sites/ashoka/2014/02/17/6459/ [Accessed April 29, 2014]. 6. Gao, J. (N.A.) â€Å"Introduction to E-Commerce† Computer, College of engineering ISE, Information & Systems Engineering, San Jose State University. https://www.uop.edu.jo/download/research/members/introduction.pdf [Accesed April 29, 2014] 7. The World Bank. (2013). â€Å"Internet Users (per 100 people). http://data.worldbank.org/indicator/IT.NET.USER.P2 [Accesed April 29, 2014]. 8. Price Waterhouse Coopers. (2012). â€Å"10 myths of multichannel retailing†. http://www.pwc.com/gx/en/retail-consumer/retail-consumer-publications/global-multi-channel-consumer-survey/country-snapshots.jhtml [Accesed April 29, 2014]. 9. Weinstein, R. (2005) â€Å"RFID: A Technical Overview and its Application to Enterprise† the IEEE Computer Society, IT Pro. http://www.cs.sunysb.edu/~jgao/CSE370-spring07/RFID.pdf [accessed April 29, 2014].

How Do Trend in the Marketing Industry

1. How do trend in the marketing industry, such as integrated marketing, affect advertising? Nowadays, there are too many trends in the marketing industry which we can see all over the places. These trends do not only give implication to the industry itself, it also affects the advertising field as well. Internet Marketing is an all-inclusive term for marketing products and/or services online – and like many all-inclusive terms, Internet marketing means different things to different people. Essentially, though, Internet marketing refers to the strategies that are used to market a product or service online, marketing strategies that include search engine optimization and search engine submission, copywriting that encourages site visitors to take action, web site design strategies, online promotions, reciprocal linking, and email marketing – and that’s just hitting the highlights. This is one of the trends in the marketing industry. These trends affect the advertising field by allowing them to promote a product or services widely through the internet. Many firms are embracing a paradigm that is shifting the focus of advertising methodology from traditional text and image to the JavaScript and Adobe Flash, which is known as the online advertising. The potential customer can access information concerning the service or product to help in deciding the need or use of products through online. Another that are often used by the marketers is applying local cultures in a global product. In this trend they usually brings in a global product into a country and applies a local culture to it, such as the country’s national language, costumes, local celebrities and much more just to attract their local customer to buy the product. Understanding a country’s culture is a key to global success. Food, food retail, beverages, household cleaning and personal care products are highly subject to the influence of culture because they are rooted in local taste, traditions, and needs. While it is very difficult for marketers to overcome these differences, there is no real imperative to do so. It doesn't matter if a food brand has different incarnations in different countries; the vast majority of consumers will be completely oblivious. For an instance, Coke has taken in adapting both its product and its communication. As a standard practice, Coca-Cola modifies its product to meet local tastes and invests heavily in locally inspired communication to complement its global positioning. The longer a brand has been in market, the more likely people are to have grown up with it and accept it as part of the local scene. This trend in marketing industry gives more implication to the advertising field. Firstly, for this kind of trend, global companies have to come up with more advertisements just for one product. Because, they are selling their products all over the world, which to be said in different countries. Whenever they adopt a local culture in selling their product, advertising plays an important role by showing the criteria of local culture to the audience, such as using the local language, local celebrity, local customs, and etc. For an example, in the Pizza Hut advertisement in Malaysia, they use the local language, such as â€Å"sensasi† and the tag â€Å"halal† in their advertising strategy just attracts the local consumers. In conclusion, advertising field is always getting affected if there are any changes or new trends in the marketing industry. This is because, advertising is the tool that helps the audience to get information about a product or services and also it attracts them to purchase it. 2. Can advertising be a factor in relationship marketing? In what way? Discuss. Advertising plays an important role in relationship marketing. Advertising is a form of communication intended to persuade an audience (viewers, readers or listeners) to purchase or take some action upon products, ideas, or services. Relationship Marketing were defined first as a form of marketing that developed from a direct response marketing campaigns which emphasize the customer retention and satisfaction, rather than a dominant focus on sales transactions. In others words, it recognizes the long term value of customer relationships and extends communication beyond intrusive advertising. And also, Relationship marketing attempts to involve and integrate customers, suppliers and other infrastructural partners into a firm's developmental and marketing activities. In the most basic sense, advertising can help in promoting the sale of a particular product or service. Advertising in the olden times, was just spreading simply through word of mouth. It was to promote the sale of a product, good or service. As time advanced through the 17th Century, advertisements began to appear in newspapers, and later, in other forms of mass media, such as radio, television and cinema. Moreover, advertising in recent years, has maneuvered its way through the other forms of advertising, such as advertisements being displayed on fruit products, ads being displayed on vehicles such as buses and taxies, and even in public and social places, like the shopping malls and streets. Besides that, advertising in the recent years has been escalated through the airing of TV commercials, and the phenomenon of the World Wide Web, or simply the Internet. Banner ads and newsletters have been included in company websites, to encourage the number of customers logging on to a particular website. Advertisements have been helping to motivate the demand for particular goods and services. Advertising through the implementation, and setting up of billboards on the sides of streets and major shopping areas, is yet another growing tactic among marketing professionals, and advertising agencies. This has skyrocketed the product sales. Through this advertising, the images of particular products and services have enhanced, and resulted in a significant increase of sales over the recent years. In conclusion, advertising has created a sense of public awareness among the people about the products they use in their daily routine. On the other hand it is yet another means thorough getting a message across to a wider audience of people about a particular product. Advertising through television and billboards ensures that the sale of a particular product or service is amplified. Looking at it from a different perspective, advertising could be considered as an effective marketing strategy towards increasing the publicity of a product and in turn reaching out to a wider customer audience. Thus, it is an important factor of relationship marketing.