Ethical and Socially Responsive Business essay

Moral and Socially Responsive Business article Moral and Socially Responsive Business article Moral and Socially Responsive Business essayThe Cheesecake Factory, Inc. is a café organization and an across the country merchant of cheesecakes. The organization works a chain of 175 full-administration eateries, a few offices for delivering pastry kitchen and offers bread shop based menus under authorizing conditions to different cafés and food administration administrators. The organization was established in 1978 by David Overton, and opened up to the world in 1993. In 2011, the Cheesecake Factory, Inc. begun its global development. At present the companys eateries are situated in Dubai, in the UAE, in Kuwait and in Saudi Arabia. Nonetheless, the significant piece of the companys cafés are situated in the United States.Ethics, consistence and corporate social duty are exceptionally significant for Cheesecake Factory, Inc. The companys suitability firmly relies upon consumer loyalty and commitment, and in this manner it is fundamental for the Cheesecake Factory, Inc. to have a n away from of lead for all workers. It is fundamental that the set of principles is shared and that representatives reliably hold fast to this code. Moreover, being a global organization, the Cheesecake Factory, Inc. should focus on being maintainable and to being socially mindful. CSR is these days a fundamentally significant part of a plan of action (Asongu, 2007) and in this way the Cheesecake Factory, Inc. should join CSR into its procedure so as to stay serious. Key regions of the implicit rules that are vital to businessThe Cheesecake Factory, Inc. has two archives planning the companys qualities and rules of lead. The Code of Ethics and Code of Business Conduct is an archive that applies to all organization workers, associates, auxiliaries and individuals from the Board of Directors. There is one greater report named the Code of Ethics for Executive Officers, Senior Financial Officers and Directors which applies to the particular positions.The previous archive covers territo ries that are of huge imperative to Cheesecakes Factory business. Above all else, there is lawful consistence which is basic for the companys ordinary working, budgetary prosperity and notoriety. The implicit rules additionally portrays the situations when irreconcilable situations may rise; the circumstances with potential irreconcilable situations may affect the companys associations with partners, monetary position (for example for the situation when business interests are clashing) or notoriety. A basic viewpoint is working with outer gatherings, for example, temporary workers and providers as per the companys moral principles.One progressively significant angle is non-requesting of non-organization related administrations or merchandise by representatives of the Cheesecake Factory, Inc. Any endeavors of such requesting will affect the companys air, may make disappointment among clients and lead money related misfortunes and notoriety harms. Fundamentally significant parts of th e set of principles are  protection of private data, assurance of the companys stock against insider exchanging and security of corporate resources. Key purposes behind including these areas are money related reasonsâ and securing the companys stock.There are numerous segments dedicated to ensuring the companys picture and notoriety against ill-advised activities, for example security against representatives offering expressions for the benefit of the organization. Notoriety is significant for eateries, so it is important to incorporate estimates supporting notoriety and consumer loyalty in the set of accepted rules. Moreover, the code transparently expresses that representatives are relied upon and obliged to help implement this code, and clarifies what is normal from directors and chiefs. These segments help guarantee that representatives follow and regard the code of conduct.In the subsequent record, the parts of intrigue clashes, non-divulgence of private data and consistenc e with organization techniques explicit for senior officials are thought of. Besides, the methods of announcing infringement and results of rebelliousness are considered in this report. Senior officials have more force and greater obligation, and their activities greaterly affect the organization, so there is a need to feature extraordinary lead angles in a different archive. Key strides for the organization to guarantee that representatives follow the code of conductFirstly, there ought to be a framework for getting workers acquainted with the implicit rules. The set of principles and essential morals preparing ought to be remembered for the data set for new representatives. Moreover, it will be ideal to offer a short moral audit with conversation of down to earth circumstances in the wake of introducing the implicit rules and learning materials.The second strategy for guaranteeing that representatives follow the set of accepted rules is the accessibility of thorough and classified morals announcing. It may be useful to arrange a framework for announcing the potential infringement without revealing personality and to make moral examinations without unveiling data about the individual who mentioned the examination. This framework would forestall reprisal endeavors and would secure the prosperity of capable representatives. The Corporate Ethics Officer and café directors liable for morals and consistence ought to keep up this system.Thirdly, it is important to arrange semi-yearly or yearly moral instructional meetings for workers. In these meetings, genuine consistence cases ought to be looked into alongside strategies for revealing. The significance of moral practices and consistence ought to be appeared during the instructional courses so as to expand representative inspiration to stick to the set of principles. Methods of taking part in socially mindful exercises in the communityAs a worldwide organization, the Cheesecake Factory, Inc. ought to add to the n etworks in which it works and act in a socially dependable manner. When all is said in done, it is conceivable to recognize three kinds of corporate social duty: naturally mindful exercises (additionally alluded to as supportability), moral work rehearses and altruistic exercises (putting into nearby networks and charities) (Sims, 2013). Every one of these classes of CSR can be utilized to profit neighborhood communities.For the Cheesecake Factory, Inc., the accompanying kinds of socially capable exercises are suggested. As far as maintainability, the organization could rehearse natural sourcing and buy fixings from neighborhood ranchers and networks delivering natural food. As far as moral work rehearses, the organization could give better working conditions to its representatives, spread their human services protection and offer extra advantages permitting them to keep work-life parity, for example, adaptable timetable, child care offices, and so on. Such changes will improve pros perity of representatives of Cheesecake Factory, Inc. what's more, will have positive effect on the communities.In expressions of generous exercises, the Cheesecake Factory, Inc. might work together with network associations making progress toward more beneficial life, support ventures and exercises of such associations. For instance, the organization may offer sound menus, support runs and wellness exercises in the network and market solid method of living to its clients. All previously mentioned exercises will help make the organization increasingly effective and will improve its notoriety and ubiquity, in this way making the organization all the more monetarily feasible too.

Shall We Walk by Pura Santillan free essay sample

Pura Santillan-Castrence starts the article with an easygoing tone and proceeds with an engaging way of counting the unequaled advantages of strolling. The words utilized all through were faultless in bringing out a visual picture in a reader’s brain and along these lines, adding to the excellence of a progressive advancement of scenes. From the outset, her work represents an unremarkable creation solely appropriate for wellbeing cognizant perusers. Be that as it may, a keen completion whips starting decisions as the writer demonstrates the importance of a straightforward prologue to accomplish her motivation recorded as a hard copy the piece. â€Å"Shall We Walk? † splendidly joined deliberate pith into an amazingly standard actionâ€walking. From its points of interest to man’s wellbeing, to the various types of individuals one sees, to the exercises you may learn en route lastly, the revelation of oneself. These are conceivable when one uses his feet to make a trip to his goal. I unmistakably valued the essay’s sensible methodology, which permitted me to relate with the content since I, myself, walk when driving from Katipunan to my wonderful dwelling place in Makati. We will compose a custom exposition test on Will We Walk by Pura Santillan or then again any comparable point explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page In like manner, I was awed by the acknowledgment that my encompassing is an instrument which imparts life realities and exercises that can fortify one’s character. The encompassing that a great many people underestimate is, all things considered, a quiet educator that one will perceive just in the event that he wants to open his eyes and see past what is promptly introduced on a superficial level. It is additionally this encompassing fills in as a peaceful spot for focused on individuals, similar to me, to loosen up and to think unmistakably. On these, the paper added significance to an activity I perform simply because it is essential. It left an enduring effect as it passed on that strolling is equivalent to learning and finding, my condition and society, however more significantly, my uniqueness. I was quickly connected to this article, most particularly on the grounds that it made ready for me to see a greater truth about existence. It helped me that each part to remember man’s venture here on earth is a learning experience and one needs to drench himself with his encompassing so as to completely build up his character. Starting now and into the foreseeable future, I’ll be anticipating strolling the boulevards of Katipunan with absolute fervor. Since the world uncovers itself to the individuals who do as such, I just can’t hold back to travel by and by foot.

How to Write a Reflective Essay A Full Guide for Students

How to Write a Reflective Essay A Full Guide for Students First, we have to know “what is a reflective essay?” before we learn the “How to write a reflective essay?” A reflective essay can be some content on the event that happened to the writer or author. It can be easy to write or to be hard to write. The reflective essay also is called dairy data, but the excellent work it demands because the other will be read it and learns something new. Correct way to start a Reflective Essay Summary Correct way to start a Reflective EssayReflective essay formatUse Descriptive LanguageReflective Essay StructureHow to write a good Reflective EssayReflective Essay material and concepts: Key points for writing a Reflective Essay  Things about to care while writing a Reflective Essay: Conclusion Now, you already know what is a reflective essay, it is easy to make an outline and you will have a clear view of the content of your essay. Thus, the writing of yours will become much easier. Reflective essay format The format of a reflective essay can be different depending on the person who reads. Reflective essays can be a simple or complicated part of novels, blogs, etc. not only in simple books. Use Descriptive Language Make sure, your essay keeps the reader interested. A good essay is one that makes use of definitive language. Talk about the details of its shape or its color. Not only say that something was looking good. In the essay, talk about how those things or experiences made you feel. Ensure your words involve all of the think if possible. Reflective Essay Structure The main parts of the essay structure are as follows: Introduction: While starting the refractive essay you have to introduce yourself and about your topic, you picked up to write the essay. By doing this you are making the interest in your reflective essay.Main body: The main body is the main part of your reflective essay in which the story or the main portion of your essay will be written. By reading these readers can comment on your reflective essay.Conclusion: The conclusion is a part in which you define what you learn from your experience which is shared with you in your essay and what is the good or bad thing about that experience. How to write a good Reflective Essay Describe a definite change, experience, and incident;Include at least one strong example that makes the picture fuller which can define your situation;Show the effects, how some events affected you in person and what your experience gave you.A good reflective essay contains a positive sided good content.A reflective essay called good when it tells about the advantages and disadvantages of both of the situations on which you have written. Reflective Essay material and concepts: Some times, teacher make you free for choosing your topic, but it cant be same for every case:- Your first speech in school/college.Why you do your first fight.Watching the ocean with your feet covered in the sand.A moment in which human rights in your country is the concept.A book you have freshly read. Key points for writing a Reflective Essay   A reflective essay is based on your experience so that you can use ‘I’.Use more quotations to make your essay effective and attractive.You can share your good or bad both experience and can also tell the improvisation to the situation that can be done at that time. Things about to care while writing a Reflective Essay: Do write your ideas in a definitive way. Your words to be used are simple and straight so that the reader can understand the situation you want to tell him.Try to keep it as simple as possible.Create an outline then start your reflective essay.  Don’t make your essay disorderly material, insights, and concepts. Make them in the most likely order. Conclusion It concludes that your refractive essay will give an effective result to the reader. In the last paragraph of your essay you recall your whole story as a result in conclusion. You can give the advantages and disadvantages of your experience in the conclusion.

Research Justification Autism Spectrum Disorder

Research justification: Autism Spectrum Disorder has been in existence for nearly two decades. Autism was first identified by two Austrian psychiatrists, Dr. Leo Kanner and Dr. Hans Asperger in 1940s (Phetrasuwan et al., 2009). Dr. Kanner studied a small group of eleven young children in 1943 that exhibited unusual behaviour like aloneness, temper tantrums, limited spontaneity, grammatical errors during conversations, repeating sentences or mute, repetitive routines, isolated skills, serious mindedness and named them as â€Å"early infantile Autism† (derived from the Greek word autos meaning ‘Self’) (Kanner, 1943, Wing, 1997, KITA and HOSOKAWA, 2011) . In the same year Dr. Hans Asperger submitted his thesis titled â€Å"Autistic psychopathy in childhood† which was published the following year in 1944 (Lyons and Fitzgerald, 2007). He observed a group of four children who had excellent memories (KITA and HOSOKAWA, 2011, Van Krevelen, 1971) . They had impairments like monotone speech, poor motor skills, delayed social abilities, less severe linguistic delays, ego-centric behaviours, sensitive to particular sounds, aromas, textures and touch (Attwood, 1998). This type of behaviour is termed as â€Å"Asperger’s syndrome†. Autism is a life-long disability that affects people in three different aspects of life in social interaction, social communication and social behaviour. The range of levels varied depending on the type of severity (severe to mild). It has been put forth as the continuumShow MoreRelatedHigh Functioning Autism Spectrum Disorder1364 Words   |  6 PagesAvoidance in High-Functioning Autism Spectrum Disorder (South et al., 2014) that is being reviewed is an experiment with High-Functioning autistic individuals and nerurotypical individuals inquiring if there is a difference in the behavior when making decisions if there is a risk involved. The researchers begin by explaining their supporting information in conducting this experiment. They reference previous written material that explains the impairments that individuals with Autism have in their neurocognitiveRead MoreHow Psychology Has Changed Human Behavior1724 Words   |  7 Pagesmindreading abilities generally follow a developm ental pathway. Additionally, Heider and Simmel’s (1944) study of geometric shapes will be explored to demonstrate how people interpret other people’s behaviour, even in animation. Subsequently, Autism Spectrum Disorder (ASD) will be discussed to show how psychology has assisted in explaining how people with this condition have mindreading difficulties and how psychology has helped in understanding and developing their mindreading skills to help them withRead MoreGraduation Speech : Phonetic Alphabet1379 Words   |  6 Pagesclosely and experience the new skills with peer support. Also, during instruction in small group, I am able to address them directly and model vowel sounds, so they can repeat/echo correctly the pure vowel sound formation. d) My student with Autism Spectrum Disorder benefits from the opportunity of being addressed directly, with me facing the student when modeling, but without social implications as it is allowed during small group work. e) Adding visual components to teaching benefits my student withRead MoreEvidence Based Practice Essay3892 Words   |  16 Pagesquestion, linked to a relevant issue with in my nursing programme. The specific question in focus is â€Å"what are the experiences of parents/guardians caring for a child with autism†. Within this essay there will be a description as to how and why the pacific question was chosen. There will also be an explanation of how the correct research papers where allocated. Further on in the essay the three chosen papers will be analysed to determine their trustworthiness. When formulating a question there are twoRead MoreThe Disorder Of The Autism Spectrum Disorder1526 Words   |  7 PagesSam was the main character in this article, who had Asperger syndrome, which is a disorder of the autism spectrum disorder. Sam, like other children with ASD was at times hard to handle and become frustrated with his peers easily. Many times he would scream at those that he didn’t care for came near him or even touched him. His mom had a hard time connecting with Sam at times and he didn’t always listen to her. He especially never seemed to listen to her when it was time for her to take him to aRead MoreChildren With Autism Spectrum Disorder ( Asd )2137 Words   |  9 PagesTopic Statement This discussion paper aims to highlight the importance of imaginary play for children with autism spectrum disorder (ASD). Furthermore it aims to highlight the need for further research on the effectiveness of the Learn to Play program as an effective imaginary play intervention tool. What is imaginary play and what are the benefits? Many children with a diagnosis of ASD experience challenges within the areas of social interaction and communication (American Psychiatric AssociationRead MoreThe Theory Of Mind : A Research Study Into Autism Spectrum Disorder ( Asd )1830 Words   |  8 Pagesdifferent aspects of ToM have been studied in children. Additionally, adult mindreading will be evaluated to appreciate how people interpret other people’s behaviour. Subsequently, mindreading difficulties will be examined by exploring research into Autism Spectrum Disorder (ASD), indicating a link between deficits in ToM and cognitive empathy. Finally, relationship conflict will be discussed showing the cognitive processes, people use in these circumstances, which create mindreading difficulties in peopleRead MoreHow Psychology Is The Theory Of Mind1783 Words   |  8 Pagesexplaining how different aspects of ToM have been studied. Additionally, Heider and Simmel’s (1944) study of geometric shapes will be explor ed to demonstrate how people interpret other people’s behaviour, even in animation. Subsequently, Autism Spectrum Disorder (ASD) will be examined to show how psychology has assisted in explaining how people with the condition have mindreading difficulties and how psychology is helping in developing their mindreading skills. Finally, relationship conflict willRead MoreThe Transition Of The Vet1464 Words   |  6 Pagesstudio environment for school age trainees. These environments were certainly different from my previous teaching roles. They presented new and interesting challenges. Some of the more challenging situations would be working with students with Autism Spectrum Disorder and having to modify delivery and assessments for the students as each had different needs. This provided me with a very good understanding of how young people with this condition react in the classroom environment and how essentially, havingRead MoreAutism Spectrum Disorder ( Asd )2254 Words   |   10 PagesIntroduction/Background Autism Spectrum Disorder (ASD) is a developmental disability that can cause significant social, communication, and behavior challenges and was first described by Dr. Leo Kanner in 1943 (Brown Percy, 2007). Individuals with ASD can range from high functioning to low functioning in their ability to learn, think, and problem solve (Brown Percy, 2007). Behavior problems are common among individuals with ASD (Hill at el, 2014). Kogan (2009) estimates that approximately 637

Agile Methodology For Project Management - 2433 Words

AGILE METHODOLOGY IN PROJECT MANAGEMENT 3 Agile Methodology in Project Management Name Instructor Institution Location Date of Submission Table of Contents Introduction 3 Approaches in Agile Methodology 3 Principles of Agile Methodology in Project Management 4 Comparison of Agile Methodology versus Traditional Approach 5 Overall Description of Agile Methodology 7 Benefits of the Agile Methodology 8 Conclusions 9 References 10 Running head: AGILE METHODOLOGY IN PROJECT MANAGEMENT 1 AGILE METHODOLOGY IN PROJECT MANAGEMENT 2 Introduction Among the various approaches adopted in project management is Agile Methodology, one that is mentioned frequently among experts and considered as one of the key approaches adopted in organizations. As pointed out by Stare (2013), Agile Methodology can be described as a particular way that is embraced in the management of projects and teams in Information and Technology among other fields. There are various practices associated with the Agile Methodology and some of them include the ability to assume simplicity, creation of documentation based on value, enabling rapid feedback to all stakeholders, and embracing change among others practices. Since its emergence in project management, various research studies have been conducted in a bid to explore the possibilities of using the Agile Methodology in other industries that are not specifically meant for software development. Given the fact that corporations areShow MoreRelatedResearch Methodology On Agile Project Managem ent1734 Words   |  7 Pages3. Methodology Chapter 3.1 Introduction to Methodology The purpose of this chapter is to describe the research methodology used in completing this dissertation. This chapter starts out by describing the initial research and literature review that was performed and then further describe with relevant research methodology. A research method is being selected and explained. A sample of questionnaire and interview questions can be obtained in Appendix. 3.2 Prestudy and Approach ( Literature Review )Read MoreWaterfall Vs Agile Methodologies For The Project Management2008 Words   |  9 PagesWaterfall Vs Agile Methodologies Choosing a right methodology for the project management enables the organization to tackle the projects comprehensively, systematically, and an approach to assess the risks and difficulties that large projects encompass. It also offers benefits at the strategic, tactical and operational levels to an organization. The two basic, most popular methodologies are: Waterfall Model (which is also known as Traditional Model) and Agile Model. Both of these models are beingRead MoreProject Management Of Software Engineering1721 Words   |  7 PagesIntroduction Project management is a tool that the organization can use to eliminate waste, increase capacity, or increase positioning in the market place. Project Management is a broad topic. The methodology has been around for many years. During the last twenty years, the Agile methodology was introduced to project management. In the last ten years, maturity of the merged agile methodology and project management occurred. In this paper, we will explore the project management of software engineeringRead MoreAgile Project Management : Shanaz Sithara Mohamed Samsudeen1212 Words   |  5 PagesAGILE METHODOLOGY CITF 120 – IT PROJECT MANAGEMENT - Shanaz Sithara Mohamed Samsudeen Agile movement as it applies to software development and other types of projects. The world is a global village. Change is the only constant that prevails. This has increased the need to be more adaptive to the challenges (changes) that are put forth. In project management, the need to be flexible has grown than ever before to turn the project successful. They have to meet with several constraints at differentRead MoreProject Management Method Called Agile Essay1607 Words   |  7 Pages Different methodologies are used nowadays by a project manager to achieve their project goals. Although all the methodologies have common process for management but their execution differs. In this paper my intention is to discuss the most commonly used project management method called Agile. This methodology is commonly used in software projects because of its iterative development way and its flexibility for a requirement changing environment like in the case of a software project where the requirementRead MoreProject Management : Design Management1278 Words   |  6 PagesProject management is a tool that the organization can use to eliminate waste, increase capacity, or increase positioning in the market place. The concept of project management is broad with methodology dating back across the decades. Project management itself is not new; however, methodologies associated with project management have continued to develop and change over time. Specifically, during the last two d ecades, the Agile methodology was introduced to project management. In recent years, mergingRead MoreExistence Of Agile Team Environment1482 Words   |  6 PagesHypothesis 1 H0: Existence of agile team environment will not help to increase the success rate of the project H1: Existence of agile team environment will help to increase the success rate of the project. Based on hypothesize one the One-Sample T-Test Output is presented below. This output consists of two parts: one of them is One-Sample Statistics and the other one is One Sample Tests. Result from The One-Sample Statistics is explained as sample size is presented as (N), mean, standard deviationRead MoreProject Management Body Of Knowledge1397 Words   |  6 Pagesabbreviation PMBOK denotes to the Project Management Body of Knowledge. The PMBOK is a developing frame of information for the arena of project management. PMBOK is positioned on the Project Manager and the PMP Exam is an effort to measure the knowledge of a Project Manager. Which differs from a methodology. Nevertheless, the significance of PMBOK to the occupation of Project Management cannot be simple, as the knowledge enclosed within it can be leveraged by any formal methodology. Therefore, it should beRead MoreEssay on Agile Software Development Methodologies1638 Words   |  7 PagesThe conventional software developm ent methodologies projects have failed to overcome the problem of volatility in the present project management processes in organizations. This is because they are mostly linear and sequential, imposing a significant challenge when meeting changing user requirements. Volatility in user requirements has been a significant predicament until the discovery of agile project management methodologies such as scrum, Extreme programming, and Future driven development. VolatilityRead MoreQuality Management in Agile Comparison with Traditional Project Management1553 Words   |  7 PagesAgile Project management is one of the industries dominating methodology for project management in IT. It is an incremental and iterative way to manage the build and design activities for constructing an IT product, services, and project development in manner which is highly interactive and flexible. In this methodology, scope is defined in granularity that is appropriate with time horizon and checked with the agreement on each feature with the customer. In this methodology work steps are divided

Crude oil Free Essays

Crude oil is a necessity for the emerging as well as the existing industries all over the world. It has the power to affect production because it’s a raw material which Is used for producing petrol etc. The fluctuations In the price of crude oil can affect the economy on a large scale. We will write a custom essay sample on Crude oil or any similar topic only for you Order Now The price of crude oll Is affected by the demand and the supply like any other good. In times of bottlenecks the price Is expected to rise whereas when there is an oversupply of crude oll the price tends to fall. Crude oil prices have varied over the last 50 years. In June, OPEC production fell by 370,000 barrels, this was mainly caused due to hindrances such as conflicts In the Middle East and the production strikes In Nlgerla . As a result this affected the price of crude 011 and It rose substantially. The prices of crude oll were subject to some major fluctuations In recent years. It can be observed that the price of crude 011 rose as much as $140/barrel approximately in 2008. 1n the same year it fell as low as $40,’ barrel approximately. In the years 2010 and 2011 it constantly increased from $80,’ barrel and reached a maximum price of $122/barrel approximately. In the years 2012 and 201 3 the price of crude oil fluctuated in the range of $100/barrel and $120/ barrel. High crude oil prices can be responsible for cost push inflation in the economy. Cost push inflation is caused mainly due to an increase in the price of raw material. Crude oil is a raw material and is predominantly used for transportation. Transportation is a vital part of the production process. Increase in the price of crude il would mean that the transportation costs increase. This in turn affects the production cost and finally the high costs fall heavily on the consumers in the form of high prices. The Oil market has been unstable since the 1970’s and has been overblown by many serious disruptions. As a result the oil market has lost its market share and people have now shifted to other energy sources available . The market for alternative energy sources has expanded as its much cheaper then crude oil. People have now shifted to cheaper fuels such as natural gas, bio-diesel etc. However other ut expensive alternatives of crude oil have also emerged for e. g. Carbon free cars, these are cars which run on rechargeable battery and they are also environment friendly. Crude oil is one of the major energy source and most of the countries still consume It heavily-UK imports crude oll and as a result its suffering from Imported Inflation currently. The crude oil prices are expected to Increase In the near future and this In turn would further contribute to Inflation In the economy. If the prices of crude oll aren’t controlled then It can be said that Crude oll will continue to lose Its arket share -In order to bring stablllty In the oll market It needs to get rid of disruptions caused by various conflicts In the oll producing countries. rude oil By ‘hatewar world. It has the power to affect production because it’s a raw material which is used for producing petrol etc. The fluctuations in the price of crude oil can affect the economy on a large scale. The price of crude oil is affected by the demand and the supply like any other good. In times of bottlenecks the price is expected to rise whereas when there is an oversupply of crude oil the price tends to fall. Crude oil barrels, this was mainly caused due to hindrances such as conflicts in the Middle East and the production strikes in Nigeria . As a result this affected the price of crude oil and it rose substantially. The prices of crude oil were subject to some major fluctuations in recent years. It can be observed that the price of crude oil rose as much as $140/barrel approximately in 2008. 1n the same year it fell as low as $40/ barrel approximately. In the years 2010 and 2011 it constantly increased from $80/ and 2013 the price of crude oil fluctuated in the range of $100/barrel and $120/ hare and people have now shifted to other energy sources available . The market for consume it heavily. UK imports crude oil and as a result its suffering from imported inflation currently. The crude oil prices are expected to increase in the near future and this in turn would further contribute to inflation in the economy. If the prices of crude oil aren’t controlled then it can be said that Crude oil will continue to lose its market share . ln order to bring stability in the oil market it needs to get rid of disruptions caused by various conflicts in the oil producing countries. How to cite Crude oil, Papers

The Application of Customer Relationship Management(Crm) as a Survival Strategy in a Competitive Environment free essay sample

THE APPLICATION OF CUSTOMER RELATIONSHIP MANAGEMENT(CRM) AS A SURVIVAL STRATEGY IN A COMPETITIVE ENVIRONMENT (CASE STUDY OF BANKPHB) ABSTRACT This study attempts to analyze the impact of environmental factors on organizational performance. Considering that performance is the major objective of an organization, it is generally accepted that the structure and decision making in an organization is influenced by environmental complexity and volatility (e. g. , Miles and Snow 1978; May et al. 2000). Furthermore, it is argued that the alignment of strategies of organizations with the requirements of their environment outperform organizations that fail to achieve such an alignment (Chaganti et al. 1989; Venkatraman Prescott 1990; Beal 2000). To carry out this study a review stive competition experienced by Our analysis reveals that an effective management of environmental factors are significant in determining the efficiency, effectiveness and overall performance of an organization within the period under review. The result provides strong support for the importance of management of environmental factors on the performance of an organization. We will write a custom essay sample on The Application of Customer Relationship Management(Crm) as a Survival Strategy in a Competitive Environment or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Also, the analysis shows the relationship amongst profitability, liquidity and growth of an organization. KEYWORDS: Environmental Factors, Customer Relational Technology and Organizational Performance 1. 0 INTRODUCTION During the last years a series of studies concerning the impact of environmental factors on businesses in Nigeria have been conducted and the strategies adopted by the affected businesses and organizations. The motivation for this study is the need to practically examine how competitive environmental has an environmental factor has affected and how the company was able to outwit the challenges possed by the factor using Customer Relational Technology. 2. 0 THEORETICAL ISSUES AND LITERATURE REVIEW 2. 1BUSINESS ENVIRONMENT The classification scheme of environmental factors developed by Aguilar (1967) has been used by many researchers, such as Keegan (1974) and Kefalas and Schoderbek (1973). Although this scheme proved to be robust in time, many researchers made minor changes to suit their specific purposes (e. . , Auster Choo 1993; Yunggar 2005). The external environment of a business organization is the pattern of all the external conditions and influences that affects, and/or relate to, its life and development. These factors include technological, social, competitive, economic, physical, and political factors. 1. The Technological Environment: This consists of those factors related to knowledge applied in the production process, inventions, methods and ways of doing things, procedures and innovations, plus the materials and machines used in the production of goods and services. Such factors have an impact on business policy and decision-making in an organization, on communication, infrastructural and managerial technologies. Policy-makers in corporate organization, on the technological environment, since technology, customer groups, and customer function, define the business of the organizations. Technological change can lead to relative competitive cost positions within a business; it can create new markets and new business segments; and it can collapse or merge previously independent businesses by reducing or eliminating their segment cost barriers. Technological developments include the discoveries of science and arts, the impact of related product developments, machinery and process improvements, the progress of data processing, and the application of sciences, ideas and knowledge to industry and commerce. Technology, in its best form, is the application of the knowledge of science and art in solving problems of a given community. There has been an accelerated pace of technological development in recent years. This had led ton unlimited innovational opportunities, and new product development. Business policy formulation must be able tom envisage how technology can meet human needs which have created business opportunities. 2. The social Environment: The social environment consists of factors related to human relationships and the bearing of such relationships on business. Factors and influences relevant in the social environment include: (a)Demographic Characteristics: These include population, its density and distribution, age groups, migration, etc. The demographic structure could reveal the size of market, and the potential consumers and customers of the business which constitute business opportunities. (b) Family Structure: This refers to the attitudes towards and within the family, and changes in the family structure. (c) Social Concerns: These refers to the social responsibility attached to the organization, such as environmental pollution, use of the mass media, consumerism, etc. (d) The function of children and adolescents in the family and society, and also the role of women bringing up children and intervening in crisis, must have policy attention. e) Social attitudes, motives, customs, beliefs, and the effects that such factors have on buyer behavior and educational levels, conduct of workers, and many more, are part of the social factors. The social environment plays a major role in the attitude and values attached to a product or service because this is where people with spending power are predominate. Social changes might be slow or rapid and, in some cases, the impact is felt immediately, while, in others, the impacts on policy and strategic decisions cannot be overemphasized. The social developments which business policy should address are: the changing composition of the population, urbanization, the changing patterns of work, leisure, etc. Changing societal values will lead to different expectations of the role that business should perform. Business will be expected to perform its mission not with economy in the use of resources, but also with sensitivity to other environments. 3. The Economic Environment: The close interaction of business with the economic environment is hardly surprising, since one of the objectives of business is to create economic activity. The economic structure of a country (capitalist, socialist, or mixed economy), the privatization or commercialization of business enterprises, economic planning system, economic policies (e. g. fiscal and monetary policies), indices (e. g. national income, per capita income, disposable income), and infractural factors(such as financial institutions), are various economic factors which the management of an organization has to evaluate. Economic environment also includes the economic system which shows how goods and ervices are produced and distributed in a given society. It also includes business cycles of boom, recession, depression and recovery. The economic environment also covers levels of business activities, such as the the price level, productivity level, real income level, interest any employment rate. All these will have effects on business- how much is saved and invested in the country will an effect on spending pattern of the population. The value of import s and exports an d the economic situation prevailing in a country also have a far-reaching impact. For example, a depressed economy might do not take time to analyse the factors predominantly responsible for the depression. Economic Environmental factor refers to the economy in which the organization is operating. Managers must endeavor to study and understand the complexities of their business environment. For instance, wage rates in Nigeria, for several years, have been rising faster than productivity per man-hour. Also, competition is becoming tougher (both at home and abroad), and business profits have been varying substantially. On the other hand, the size of the Nigeria market, for instance environment also includes the economic system which shows how goods and services are produced and distributed in a given society. It also includes business cycles of boom, recession, depression and recovery. The economic environment also covers levels of business activities, such as the price level, productivity level, real income level, interest and employment rate. All these will have effects on business how much is saved and invested in the country will have an effect on the spending pattern of the population. The value of imports and exports and the economic situation prevailing in a country also have a far-reaching impact. For example, a depressed economy might pose problems to the managers of an organisation if they do not take time to analyse the factors predominantly responsible for the depression. Economic environmental factor refers to the economy in which the organisation is operating. Managers must endeavour to study and understand the complexities of their business environment. For instance, wage rates in Nigeria, for several years, have been rising faster than productivity per man-hour. Also, competition is becoming tougher (both at home and abroad), and business profits have been varying substantially. On the other hand, the size of the Nigerian market, for instance, provides opportunities for profit-making through mass production and marketing of products and services. Nigerian governments are becoming less involved. in direct business operation. Also, there are new profit prospects for. ifferent businesses from governments growing expenditures aimed at solving some major socioeconomic problems such as transportation, housing and technological development, among others. Njgerian corporate managers should endeavour, however, to provide for the future in their policy/strategy formulations. It is known precisely what the future holds for business as an institution, but there will be growing challenges to managers to adapt properly to rapidly changing econom ic environmental forces. Business enterprises have to take into consideration the economic environment in formulating policies in order to achieve objectives. 4. The Legal-Political Environments: In recent years, developments in the political environment have increasingly been affecting decisions in the operation and management of business enterprises. The political system is a broad term covering the forms of institutions and the structure by which a nation is governed. It consists of an interacting set of laws, government legislations and agencies that influence and constrain the conduct of various organisations and individuals in the society. In Nigeria, there are three tiers of government the federal, the state and the local government. Each tier of government has its powers and limitations. There are also three arms of government, viz: The executive, the legislative, and the judiciary. Each arm of government has been assigned constitutional roles to perform in the country. Business enterprises should be aware of the laws and regulations that guide the operations and management of organisations in the Nigerian legal political environment. Policies that will contravene or contradict the laws and regulations should be avoided. . The Sociocultural Environment: The sociocultural environment consists of the beliefs, the values and norms of a given society. People usually grow up in a particular society with some cultural settings which shape a world-view that defines the way and manner of living of the people. This world- view dictates and determines the consumption norm of the society and the type of product or service that an organisation can offer to the market concerned. Policy-makers should try to understand the cultural setting as it affects business decision- making. . The Competitive Environment: Corporate organisations operate in an environment that is full of competition. The nature of competition actually influences the performance of these organisations. 2. 2 THE GENESIS OF CUSTOMER RELATIONSHIP MANAGEMENT (CRM) To understand the current state of CRM, we must understand its history. The story of customer relationship management is clearly older than the term itself. Its philosophical roots can be traced in ideas from service management, relationship marketing and the total quality management movement. Quintessentially, these are all management paradigms that make the customer the focus of any activity that the company sets out to perform. Throughout the 1990s, these philosophies were supported by numerous research findings on the importance of customer satisfaction, loyalty and retention for the long-term success of any consumer service operation. Gradually, more and more organizations gained insight into the strategic imperative of investing in what we now call CRM capabilities. This research focuses mainly on continuous relationships, or contract based relationships of PHB Bank mainly within consumer services. The strategy involved in this industry tends to share a number of characteristics and challenges: †¢They deal principally with relatively low involvement products and services; †¢It takes several years to pay back the costs of acquisition and break even in many such customer relationships, thus an initial sale is not always a guarantee of profit; †¢Retention and share of wallet are key diverse of business success; †¢They operate in markets that are becoming increasingly important and where competition is intensifying; †¢Product and/or price differentiation provide limited means to long-term success. Upon application of CRM, the bank has witnessed an unprecedented explosion of channels over the last decade. Moreover, during this same period, early initiatives aimed at better management of the cost base of the sector (and refocusing management on its core business) also included the adoption and development of many different outsourcing opportunities. The consequences of these and other developments in the bank have left it with the significantly increased challenges of firstly, managing its customer base through many more touch points, and secondly, having to draw on an increasingly diverse range of data sources. Another important development path is grounded in the business process re-engineering movement of the mid-1990s and the consequential focus on why and how activities were conducted, not only for whom. Initially, re-engineering initiatives focused on processes upstream in the value chain. But as the dust slowly settled after the enterprise resource planning (ERP) and supply chain management (SCM) turmoil, organizations put an increased focus on developing IT-supported solutions aimed at increasing efficiency in the customer interface. The channel developments within retail financial services provide a good example of how CRM has a critical role to play in developing customer relationships. In the past, the principal channel for relationship development was some form of branch. Now, customers can ‘enter’ the institution through many different channels to access many products. This has added greatly to the matrix of complexity that large-scale CRM programmes are meant to be supporting. Diagram 1: The changing CRM landscape Diagram 2: key factors influencing CRM . 0METHODOLOGY 4. 0FINDINGS AND DISCUSSIONS The findings from the data analysis from the study are as follows: Firstly, from the review of the activities and operations of BankPHB Plc, it is very clear that ICT plays a significant role to development, growth and survival of corporate organization as regards customer relationship management (CRM) particularly in this 21st century. It was also observed that application of ICT projects are increasin gly becoming managerial challenges rather than technical ones. Success in the application of ICT requires the intelligence and commitment of the marketers to the achievement of their sales objective Furthermore, factors that fosters on the business competitive environment are both external (environmental dynamism in terms of technological inventions) and internal (Marketers capability to exploit the technological inventions). Secondly, it was also observed that ICT brought a revolution to Habib Bank Plc. in the following ways: (a) It was discovered that through ICT, Networking i. e. internet, e-mail, fax and phone) have been made easy for people to communicate with one another, allows them to interact, experiment and relates with customers conveniently (CRM). (b) It was also found out that ICT facility, facilitates collaboration, it allow marketers to work with clients conveniently and workers to work together on a single network. (c) It also helps in redesigning business processes and standardization of work flows. (d) Finally, it also helps in monitoring activities and event efficiently, allows marketers to get accurate up-to-date picture clients’ situation and what is happening throughout the enterprise. Advances in technology have played an important role in improving service delivery standards in the banking industry. In its simplest form, Automated Teller Machine (ATM) and deposit machines (in view) now allow consumers carry out banking transactions beyond banking hours. With online banking customers of BankPHB can check their account balances and make payments without have to go to the bank. This is gradually creating a cashless society where consumers no longer have to pay for all their purchases with hard cash. For example bank customers can pay for airline tickets and subscribe for initial public offerings by transferring the money directly from their accounts, or pay for various goods and services by electronic transfers or credit to the sellers account. As people own mobile phones, banks have also introduced mobile banking to cater for customers who are always on the move. Mobile banking allows individuals to check their account balances and make fund transfer using their mobile phones. One can also control his/her bank accounts using either computer or telephone banking channels which involve the use of passwords to access your accounts. Generally therefore, IT is a service that allows customers to use some form of computer to access accounts specific information and possibly conduct transactions from a remote location such as home or at a work place. Using these methods, banking transactions can be accessed 24 hours a day. If customers don’t know what they are paying for, and the managers don’t know what they are charging for, it’s almost impossible for companies to identify their competitive position Also E. marketing allows marketers to relate with their prospects, clients, facilitates customer relationship management (CRM) and assists an individual or organization to view recent transactions, print out statements and transfer funds between accounts and make payments. 5. 0CONCLUSIONS Though environmental factors can be detrimental to the life of organizations; however, it has also made some organizations to do better than what they could have done in a situation where there is no competition. Technologies can be used to differentiate product from competition or may even become the basis for new product or services. Technologies can also add to the quality of relationships with customers and to the quality of life for employees. Customer relationship management (CRM) enables company to provide excellent real time customer service through the effective use of individual account information. Based on what they know about each valued customers, banks can customize market offerings, services, programs, messages and media. CRM is important because a major driver of company profitability is the aggregate value of company’s customer base, and next sales are generally a result of satisfactory services performed in connection with the previous sale Together, marketing and IT serve business. The purpose of business is serving the market place in a way that is profitable to the enterprise. Marketing and IT are, by nature and by discipline incapable of doing that alone. IT alone, so process oriented, so internally focused can only shave the bottom line. Which far too often means not success, but reduced failure. Marketing alone, so results oriented, so externally focused, so perpetually tuned into statistical increases in market share and competitive position, can only increase sales, top lne. Which far too often means not success, but increase revenue. But together, this alliance of process and results, of bottom line and top line, technology and creativity, can harness and deploy unstoppable powerhouse of market success. In the course of the research work it was also observed that organizations are facing challenges in coping with the environmental challenges. The most significant things are not that the rules of the games are changing, but the environments in which the economic and financial components are being played are also changing. The extent to which organizational profit objective are pursued, is determine by how much they are able to manage and cope with the challenges of the changing world. REFERENCES Journal Articles Richard A. D ‘Maping your competitive position’ Havard Business Review (November 2007), 110-120 McAfee Andrew, Mastering the three world of Information Technology, Havard Business Review (November 2006), 141-149 Bateson John, Are your Customer good enough for service business(The Academy of Management Executive Nov 2002 Vol 16, no 4 pg 110) Brinker Scotch Reflection on Marketing Technology(The Academy of Management Executive2009) Vanden Dana Bridging Chasm between IT and Marketing ( Marketing Profs Article 2004) Books Smith P. R and Taylor,Jonathan, Marketing communication an Integrated Approach,(Kogan page ltd 2003) Blomquist Ralf, Dahl John and Eager Thomas, Customer Relationship Development (Finacial World Publishing 2002) Smith L. Jaynie and Flanagan G. Willian Creating Competitive Advantage (Double lay Broadway Publishing 2006) Robinson F. John, Customer Driving Marketing (Kogan Page Ltd 1997) Smith Paul,Berry Chris and Puford Alan, Strategic Marketing Communication(Kogan Page Ltd 1997) Dall Carnegie and associate,The Sales Advantage (The free press 2003) Asika Nnamdi, Research Method in the behavioural Sciences, (Longman Nigeria Plc 1991) Asika Nnamdi, Research Methodology; A Process Approach, (Mukugamu and Brothers Enterprices 2004) Coppett I. John and Sullivan H. Corllinelius, Marketing in the Information Age. (Double lay Broadway Publishing 2006) Jabnoun Naceur, Islam and management ( International Islamic Publishing house 2005) Iheanyi C. Achumba, Strategic Marketing Management in the 21st Century (Mac- Williams and Capital Publishers Inc 2000) Iheanyi C. Achumba, The Dynamics of Consumer Behaviour (Mac- Williams and Capital Publishers Inc 2000) Iheanyi C. Achumba, Sales Management concepts,Strategies and cases (Mac- Williams and Capital Publishers Inc 1995) Kotler Philip and Keller Kelvine Lane, Marketing Management (Pearson Educational, Inc 2006) Iheanyi C. Achumba, Linus osuagwu, Marketing Fundamentals and Principles (Al- Marks Educational Research Inc 1994) Esa E. O and Okafor R. O, statiatical Table