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Marketing Management Zara

Executive Summary

Marketing management involves the oversight of key marketing elements in a way that helps a business attract a larger market share for its products, enhancing both profitability and productivity. This report provides a brief analysis of marketing management as it applies to the selected business firm. It covers the firm’s market positioning, along with its current unique selling proposition. The report also includes a marketing audit, both internal and external, and discusses the firm’s potential for growth. Additionally, this document provides a competitive analysis of the company and its newly launched product, while also defining the role of the marketing mix in promoting this product.

Introduction Marketing Management

Marketing management is defined as the various functions carried out within an organisation to analyse and manage the market processes and operations. This helps the organisation run smoothly. It is designed to build strong relationships between customers and the market. Organisations use marketing management effectively to regulate their functions and meet their objectives. Marketing management also enables organisations to choose the right markets and maximise profits from new market opportunities, helping them achieve their overall goals (Bankvall et al., 2017). The chosen organisation for this report is Zara, a multinational company that sells a wide range of fashion products, including clothing for children, men, and women. Zara is now expanding its product line with a new range of women’s jackets. This report analyses Zara’s marketing strategies and competitive position in relation to this new product. It will cover the history of Zara and explore the company’s STP (Segmentation, Targeting, and Positioning) approach, as well as conduct internal and external audits. Various models will be used to assess the organisation, and the marketing mix will be thoroughly analysed.

Outline Of Industry, Market Positioning, And Zara's Unique Selling Method

Zara is a multinational company operating in the fashion industry, offering a wide range of products that appeal to various age groups. These products include clothing for children, men, and women. Currently, Zara is preparing to launch a new range of women’s jackets, which are designed to align with the latest fashion trends. Although this new product line is exclusively for women, Zara’s development team consistently introduces new items based on current fashion trends to attract a wider customer base (Ing et al., 2020). Zara operates with a fixed number of stores worldwide, though the company has the potential for further global expansion. This report provides a brief overview of Zara's approach to selling products, focusing on their quality and pricing strategies. Customers generally report high satisfaction with Zara’s products. The company employs a unique selling method to attract attention in the market, particularly through its fashion stores and innovative social media strategies. Zara creates trends by promoting their products on social media, often using hashtags as a key tool for promotion. Below is a discussion of Zara’s approach to Segmentation, Targeting, and Positioning (STP): STP Approach STP is a structured communication method that many organisations use to achieve profitability in the market through strategic marketing. In Zara’s case, there are three key stages: segmentation, targeting, and positioning, which are integral to its approach in the fashion industry. This STP strategy helps Zara meet its marketing objectives by addressing the needs and wants of its consumers. In today’s competitive business environment, Zara provides employees with various tools and techniques to help the firm reach its goals in the fashion sector (Luu et al., 2018). The specific functions of Zara’s STP approach are detailed below: Segmentation: This involves dividing the market into smaller, valuable groups based on an analysis of customer needs and preferences. Segmentation allows the organisation to better meet its objectives and target its desired audience effectively. By breaking down the market into these groups, Zara is able to interact more effectively with customers and offer products that cater to their specific needs. Additionally, this segmentation assists Zara in developing its marketing mix and positioning its products within these segmented markets. Zara operates in the UK and across the world, where the organisation applies effective marketing strategies to generate profit. There are various approaches to segmentation that Zara utilises, which are discussed below: Demographic Segmentation: Demographic segmentation focuses on targeting specific groups based on characteristics like gender, age, income, education, and regional factors. In Zara’s case, this type of segmentation is applied to target consumers based on their gender, age, and other demographic factors. Zara targets individuals within the 10 to 50 age group, tailoring their marketing strategies accordingly to meet the needs of these segments. Psychographic Segmentation: Psychographic segmentation involves dividing the market based on personality traits, values, and lifestyle. In the context of Zara, the company gathers data through surveys and customer information to understand these factors. This segmentation method enables Zara to align its marketing strategies with the personalities and preferences of its customers (Mahlamäki et al., 2019). By using this approach, Zara enhances its ability to meet consumer needs, improving its operations and achieving business goals. Zara utilises both demographic and psychographic segmentation to meet market demands and address customer needs effectively. This approach helps the company in fulfilling its organisational objectives. Targeting: Targeting refers to the evaluation of potential market segments to identify and focus on customers with the most promise. It involves assessing the needs and expectations of consumers. In Zara’s case, the company uses targeting to manage its customer base effectively, ensuring that products are designed for those with the highest potential. Several factors are considered when targeting groups of people, some of which are discussed below: Criteria Size: The market must be large enough to manage targeted customers, so segmentation plays a key role in this. Zara uses appropriate methods to execute their plans and implement them in the marketplace, helping them achieve their objectives (Marcinkowska and Barałkiewicz, 2016). Zara also identifies short-term and long-term market targets, based on their chosen groups, and manages production and product availability accordingly. Difference: This factor looks at the distinction between various segments. Understanding these differences helps organisations measure and evaluate how their strategies should be adapted to each segment. Zara uses this tool to determine the appropriate strategies and functions required to meet the unique needs of different customer groups, ensuring the success of their product offerings. Positioning: Positioning refers to the process of establishing a product’s place in the market. This is largely influenced by customer interest. When customers repeatedly purchase products from the same organisation and develop loyalty, a strong position for the brand is created in their minds. This image helps the organisation grow rapidly. In the case of Zara, the company uses a functional positioning strategy, identifying and focusing on the features and activities that align with customer experiences. Additionally, Zara prioritises value propositions that are recognised by fulfilling customer expectations and needs. From the above points, it can be concluded that by using a proper system to assess current resources and implement functions based on customer needs and expectations, the organisation is better equipped to meet its objectives. This is supported by the company’s structure and framework.

Marketing Management Audit (Internal And External) And Potential For Market Growth

A marketing audit is a comprehensive and systematic evaluation of a business's marketing environment, both internal and external. It involves analysing the organisation’s objectives, strategies, and principles to identify areas of weakness and opportunity. The marketing audit helps develop an action plan to improve sales and market performance (Maria, 2016). The audit includes several components, such as macro-environment audit, task environment audit, marketing strategy audit, marketing organisation audit, marketing system audit, marketing productivity audit, and market function audit. Through this process, a company can evaluate how well its marketing department is performing and contributing to overall business success.

Internal Audit

An internal audit refers to the evaluation carried out by a team within the organisation. The goal is to provide objective and independent reviews of the company’s systems, operations, and processes (Eckhardt and Bardhi, 2020). Internal audits offer senior leaders insights into risks, controls, and operational effectiveness, ensuring that the company complies with laws and regulations. This can be understood by applying the VRIO model, which is used to analyse the internal operations of Zara. VRIO Analysis of Zara: VRIO is an analytical tool used to evaluate an organisation's resources and help it achieve a competitive advantage. VRIO stands for Value, Rareness, Imitability, and Organisation. VRIO is a strategic analysis framework used to evaluate an organisation's resources and capabilities to determine their potential for providing a sustainable competitive advantage. Value: Zara does not rely on third parties for product production or design. The company manages all aspects of design, warehousing, distribution, and logistics internally. This approach makes Zara more flexible and faster than its competitors, while also reducing operational costs. The company's organisational structure promotes efficiency, and every employee is expected to uphold the values and decisions of the organisation (Ouwenga et al., 2017). Zara adapts to changes in consumer preferences quickly, embracing both flexibility and speed as key components of its success. Rareness: Zara has a unique ability to produce and deliver new items to stores in less than three weeks, compared to the typical six months required by higher-end brands. In a typical season, Zara produces up to 11,000 different items, while competitors usually offer between 2,000 and 4,000. This ability makes Zara’s resources rare and hard to replicate. Imitability: While many aspects of the fashion industry are imitable, Zara’s business model has proven difficult to copy successfully. Although competitors may try to imitate Zara, they often do so with lower-quality fabrics, which diminishes the overall effectiveness of their replication attempts. Organisation: According to Zara’s annual reports, the company consistently increases its sales and profits. This is achieved not only through the efforts of top management but also by the commitment of every employee involved in the business processes. Zara’s ability to coordinate its operations is strengthened by a unified decision-making process across the organisation.

External Audit

An external audit focused on marketing examines the external factors that influence marketing and product development strategies (Zhang and Wang, 2019). The external environment can generally be divided into two segments: micro and macro. This analysis is typically conducted using a PESTLE framework. Political Factors: Zara, a Spanish brand, operates on a global scale. Politically, it is one of the largest companies within the European Union, benefiting from extensive trade agreements. Economic Factors: Zara takes advantage of low-cost labour while also contributing to high employment rates in Europe. This combination offers positive aspects that enhance the company's operations. Sociocultural Factors: Zara is committed to delivering high-quality products to its customers while ensuring the welfare of its workers. This strong brand reputation allows Zara to maintain healthy profit margins for its shareholders. Technological Factors: With a large customer base, Zara utilises advanced technology to expand its reach. This includes systems that enable many users to access the website simultaneously. Legal Factors: In the fashion industry, copyright issues can lead to legal disputes. Several brands have claimed copyright infringement against Zara regarding its designs, which can result in penalties for the company. Environmental Factors: The fashion industry often generates significant waste. Zara aims to recycle this waste, creating new clothing lines to meet consumer needs.

Competitive Analysis

Competitive analysis involves identifying the key strengths and weaknesses of competing companies. This process helps a business assess its strategies and policies to enhance sales (Bell and Rochford, 2016). The goal of this analysis is to assist management in developing policies that consider existing competition. It provides essential information that helps the management capture a market full of demanding customers while reducing the threat of substitution for the company’s products or services, ultimately enabling growth opportunities (Harrison, 2021). In relation to Zara, the company is currently focusing on promoting its newly launched women's jackets. These jackets are designed to be attractive, keeping current market trends in mind, and they are easy to wash while remaining resistant to bleaching. Zara has introduced these jackets using innovative promotional methods, making them available at a range of prices from budget to luxury. The timing for this product launch is particularly strategic, as the winter season provides an ideal opportunity for promotion. The jackets feature a round neck with an attached cap, designed with health care techniques to address concerns related to the COVID-19 pandemic, adding to their uniqueness. Zara employs two main tools for its competitive analysis, including:

Porter’s Five Forces Model

The external environment significantly influences a firm's strategy and policies. Regardless of the size of their operations, companies must adapt to the business cycle and its challenges. To remain competitive, organisations should formulate flexible policies that can accommodate necessary changes in their external environment (Burns and Dewhurst, eds., 2016). Competitive Rivalry: This force examines the number and strength of competitors within the industry. For Zara, the company has developed strategies to promote its women's jackets. Management has chosen to use innovative techniques to showcase these unique products to customers around the globe. Supplier Power: This refers to the influence that suppliers of raw materials have over the prices of products. In Zara's case, supplier power is relatively strong because the company relies heavily on a single supplier, fostering a good relationship that benefits both parties. Buyer Power: This indicates the influence that customers have in affecting product prices. For Zara, buyer power is moderate. Although the company offers fashionable products, the limited stock available sometimes makes it difficult to fully meet customer demand. Threat of Substitution: This force highlights the likelihood that customers might switch to alternative products that offer similar quality at lower prices. Zara faces a high threat of substitution due to its focus on fashion, which requires constant attention to this risk when launching new products. Threat of New Entry: This refers to the risk posed by new companies entering the market with new products. While Zara is a well-established brand, the threat of new entrants could temporarily affect sales. However, the company’s strong brand image should help it maintain long-term customer loyalty. SWOT Analysis of Zara A SWOT analysis evaluates a company’s strengths, weaknesses, opportunities, and threats. For Zara to operate effectively and remain a preferred brand among customers over time, it needs to use its resources optimally and develop strategies that consider its competition (Huber, Bugmann, and Lafond, 2018). This analysis helps management make informed decisions and aligns with the company’s objectives. The SWOT analysis for Zara's launch of the women’s jacket is as follows: Strengths: Zara is known for offering unique designs, which is a significant strength. The diverse range of products attracts various customers, catering to budgets from low to luxury, including party wear, office wear, and options for both children and adults. The company has a strong presence in international markets, with an established brand name. This reputation will help promote the new women’s jackets, as customer trust in the brand is already well-established. Weaknesses: Zara does not invest heavily in advertising for its products and services. While advertising can increase production costs, its potential to significantly boost sales and turnover cannot be ignored. The management has recognised this weakness and aims to address it without raising product prices. Internal disputes within the organisation hinder proper coordination between various departments. Opportunities: Zara is an emerging brand in the e-commerce space. Given the current pandemic situation, the company has the chance to capture online market platforms by making informed decisions. The introduction of the new women’s jackets presents an opportunity to strengthen market presence and customer engagement. Threats: The complexity of managing a vast market can pose challenges for Zara, especially in the production and supply departments. Meeting the demands of numerous customers requires significant attention. Competition remains a constant threat to any business. The presence of top competitors like Chanel, Christian Dior, Burberry, Gucci, and Prada complicates marketing efforts for new product launches. However, Zara plans to take necessary actions to counter competitor strategies and ensure increased sales. By understanding these elements, Zara can effectively position itself in the market and leverage its strengths while addressing weaknesses and threats. MARKETING MIX (4P'S) The marketing mix encompasses various tactics used by a company’s management to enhance sales of its products or services. This approach helps an organisation maintain a strong brand image in the marketplace, and by providing quality services, marketers can foster customer loyalty. The marketing mix is a tool that assists marketers in promoting products or services effectively within a specific market (Karpenko and Filyppova, 2016). For Zara, management has decided to promote its newly introduced women’s jackets based on an analysis of current marketing trends. The marketing mix consists of the 4P's: product, price, place, and promotion. Zara’s Product Strategy: This refers to the tangible items sold by the company for which customers pay. Read the full article

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AI in Customer Service Dissertation - Artificial Intelligence Innovation Customer Experience and Marketing in the UK Retail Sector

AI in Customer Service Marketing Dissertation UK Retail – This dissertation explores the impact of artificial intelligence (AI) on customer service and marketing strategies in the UK retail sector. With AI becoming a key driver of innovation, this study aims to understand how it is reshaping customer experiences and marketing practices. The research focuses on both the benefits and challenges of AI adoption, using a mixed-methods approach to gather insights from customers, retail managers and industry case studies. A survey of 250 UK retail customers was conducted and the findings show that AI-driven tools like chatbots and personalised recommendations are widely appreciated for their efficiency and convenience. For example, 80% of respondents reported being satisfied or very satisfied with AI-powered customer service, citing faster response times and 24/7 availability as key benefits. However, some customers expressed concerns about the lack of human touch and data privacy issues, highlighting areas for improvement.

Interviews with 12 retail managers revealed that AI is increasingly used for targeted advertising, dynamic pricing and predictive analytics. Retailers like Tesco and ASOS have successfully integrated AI to personalise marketing offers, leading to a 20% increase in sales for some brands. Despite these successes, managers also identified challenges such as high implementation costs and the need for staff training, which can slow down AI adoption.

#dissertation #marketing #AI #artificial intelligence #customer service #customer experience #retail industry

This Master Dissertation Focuses on Managing Project Communication in Culturally Diverse IT Teams - A UAE Case Study.

Project management communication plays a vital role in ensuring the success and quality of project delivery, particularly in teams comprising members from diverse cultural backgrounds. Given the importance of effective and efficient communication in culturally diverse project teams, this research aims to examine the impact of cultural diversity on project management communication in the IT sector of the UAE. An exploratory research design was adopted for this study, with data collected from 100 project managers and team members working in the IT sector of the UAE. A survey questionnaire was used as the primary data collection tool.

#project management #dissertation #business management #university #uae

This dissertation examines the relationship between work-life balance (WLB) and remote work on employee productivity during COVID-19

This dissertation examines the multifaceted relationship between work-life balance (WLB), employee well-being, and organisational performance, particularly in the context of the shifting work dynamics influenced by the COVID-19 pandemic. As organisations increasingly adopt remote and flexible work arrangements, understanding the impact of these changes on employee experiences has become paramount. This study synthesises existing literature and employs a mixed-methods approach, incorporating both quantitative surveys and qualitative interviews to gather comprehensive insights from employees across various sectors.

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Sample Economics Dissertation Topics for 2024

Sample Economics Dissertation Topics for 2024 - Selecting a topic for an economics dissertation is a critical step that can significantly influence the direction and impact of your research. A well-chosen topic not only aligns with your interests but also contributes to the existing body of economic knowledge. Here, we present an extensive list of sample economics dissertation topics designed to inspire and guide your academic journey. These topics cover a diverse range of economic issues, ensuring that you can find a subject that suits your expertise and research goals.

Global Economic Challenges and Opportunities

1. The Role of Cryptocurrency in Modern Financial Systems Cryptocurrency has emerged as a transformative force in the financial sector. This topic examines the implications of cryptocurrencies on global financial markets, considering factors such as investment strategies, regulatory challenges, and market volatility. 2. The Economic Impact of Artificial Intelligence and Automation Artificial Intelligence (AI) and automation are reshaping industries worldwide. Investigating this topic involves analysing the economic benefits and potential drawbacks of AI, including its effects on productivity, employment, and sectoral growth. 3. Climate Change Economics: Costs and Mitigation Strategies Climate change presents significant economic challenges. This dissertation could explore the economic costs associated with climate change and the effectiveness of various mitigation strategies, such as renewable energy investments, carbon pricing, and sustainable development initiatives.

Regional and National Economic Studies

4. Post-Brexit Economic Policies and Their Impact on the UK and EU Brexit has introduced substantial economic uncertainties. This topic involves a comprehensive analysis of the economic consequences of Brexit on trade, immigration, and financial stability in both the UK and the EU. 5. Drivers of Economic Growth in Emerging Economies Understanding the factors that drive economic growth in emerging economies is crucial. This dissertation could explore aspects such as foreign direct investment, infrastructure development, and policy reforms that contribute to sustainable economic growth in these regions. 6. Governmental Response to Economic Crises: Lessons from COVID-19 The COVID-19 pandemic has had a profound impact on global economies. This topic examines the effectiveness of governmental responses to the economic crisis, focusing on fiscal and monetary policies, and support measures for small and medium-sized enterprises (SMEs).

Sectoral Economic Analyses

7. Evaluating the Efficiency of Healthcare Systems Healthcare systems play a critical role in economic stability. This dissertation could compare the efficiency of different healthcare models, evaluating public versus private healthcare systems and the economic implications of healthcare reforms. 8. The Economic Impact of Tourism in Developing Countries Tourism is a vital economic driver for many developing nations. This topic investigates the benefits and challenges of tourism, including its impact on local economies, employment rates, and infrastructure development, as well as the influence of global events on tourism trends. 9. The Automotive Industry: Economic Contributions and Challenges The automotive industry is pivotal for economic growth and innovation. This dissertation could explore the industry's contributions to economic development, the effects of globalisation, trade policies, and environmental regulations on automotive manufacturing and sales.

Financial Economics and Market Dynamics

10. Behavioural Economics: Understanding Consumer Decision-Making Behavioural economics provides insights into how psychological factors influence economic decisions. This topic could analyse consumer behaviour patterns, the impact of cognitive biases on financial decisions, and strategies to enhance financial literacy. 11. The Role of Financial Institutions in Maintaining Economic Stability Financial institutions are crucial for economic stability. This dissertation could investigate the roles of banks, investment firms, and regulatory bodies in preventing financial crises, ensuring market liquidity, and fostering sustainable economic growth. 12. Analyzing Stock Market Volatility and Its Economic Implications Stock market volatility has significant economic repercussions. This topic could explore the causes of market fluctuations, the role of investor sentiment, and the effectiveness of various risk management strategies in mitigating volatility.

International Trade and Economic Policies

13. Trade Wars: Economic Impacts and Global Consequences Trade wars can disrupt global economic relations. This dissertation could investigate the economic impacts of trade conflicts between major economies, focusing on tariffs, supply chain disruptions, and shifts in global trade patterns. 14. The Impact of Trade Liberalisation on Developing Economies Trade liberalisation aims to promote economic growth by reducing trade barriers. This topic could explore the effects of trade liberalisation on developing economies, considering the opportunities for growth and the challenges posed by increased competition and market integration. 15. The Economics of International Aid and Development International aid is critical for the development of impoverished regions. This dissertation could examine the effectiveness of aid programmes, the economic benefits of aid, and potential issues such as dependency and the misallocation of resources.

Labour Economics and Employment Trends

16. The Gig Economy: Opportunities and Challenges The gig economy is altering traditional employment patterns. This topic could analyse the economic implications of gig work on labour markets, wage structures, job security, and worker rights, highlighting both the benefits and challenges of this employment model.

Sample Economics Dissertation Topics 17. Gender Wage Gap: Economic Analysis and Policy Solutions The gender wage gap remains a persistent issue in many economies. This dissertation could investigate the factors contributing to wage disparities, the economic impact of wage inequality, and potential policy interventions to promote gender pay equity. 18. Future Employment Trends: Automation and the Workforce Automation is expected to have a significant impact on future employment trends. This topic could explore how automation affects job displacement, skill requirements, and labour market dynamics, offering insights into how economies can adapt to technological advancements.

Environmental and Resource Economics

19. Economic Benefits and Challenges of Renewable Energy Adoption Renewable energy is essential for sustainable economic development. This dissertation could examine the economic benefits and challenges of transitioning to renewable energy sources, considering factors such as cost-efficiency, policy incentives, and market impacts. 20. Water Resource Management: Economic Implications Water resources are crucial for economic activities. This topic could explore the economic impacts of water scarcity, the effectiveness of water management policies, and strategies for sustainable water use and equitable access. 21. The Economic Impact of Environmental Regulations on Industry Environmental regulations are necessary to protect natural resources and public health. This dissertation could analyse the economic effects of these regulations on various industries, considering compliance costs, competitive advantages, and the potential for innovation in sustainable practices. Sample Economics Dissertation Topics Relevant Posts University Economics Projects MBA Project International Economic Environment Challenges of Brexit What Are The Underlying Causes of Ethnicity Wage Gaps In The United Kingdom Applying Economic Modelling to the Movement of Refugees Predicting Economic Market Failure and Collapse in The London Housing Market and How It Compares to a Collapse in The Wider UK Housing Market – A VAR Approach An Exploration on How Climatic Alteration Has Affected the Economy of the United States

Conclusion

Selecting a relevant and engaging economics dissertation topic is essential for producing impactful research. The topics outlined in this article span a wide array of contemporary economic issues, offering numerous opportunities for in-depth exploration and analysis. By engaging with these topics, you can contribute valuable insights to the field of economics and advance your academic and professional aspirations. If you enjoyed reading this post on sample economics dissertation topics for 2024, I would be very grateful if you could help spread this knowledge by emailing this post to a friend, or sharing it on Twitter or Facebook. Thank you. Read the full article

#EconomicEnvironment #EconomicsDissertationTopics

Sample Economics Dissertation Topics for 2024 - Selecting a topic for an economics dissertation is a critical step that can significantly in

Sample Economics Dissertation Topics for 2024 – Selecting a topic for an economics dissertation is a critical step that can significantly influence the direction and impact of your research. A well-chosen topic not only aligns with your interests but also contributes to the existing body of economic knowledge. Here, we present an extensive list of sample economics dissertation topics designed to inspire and guide your academic journey. These topics cover a diverse range of economic issues, ensuring that you can find a subject that suits your expertise and research goals.

#dissertation #economics #MBA #University

Quality Management System at Barclays Group

Quality and Quality Management System at Barclays Group

Quality Management System at Barclays Group - The present business climate is characterised by fierce rivalry and constantly shifting client needs. A further factor driving competition is the proliferation of new technology, globalisation, and corporate consolidation (Bouranta et al., 2019). Many banking institutions are suffering economic issues because of the COVID-19 epidemic. Managers must examine their company processes in light of the negative macroeconomic climate to make investment decisions. This report evaluates Barclays' quality management procedures and investment decision processes (Kugbonu, 2020). Quality management trends are also examined in this paper, as well as how the QM system might be aligned with these trends. Barclays bank should incorporate these trends into its Quality Management (QM) to achieve a competitive edge in the business.

An Overview of the Situation

This bank has two divisions: Barclays International and Barclays UK. Its service subsidiary, Barclay’s execution services, supports these divisions. Over 83,000 people work for the bank, which has operations in 40 countries and employs approximately 83,500 people in its two primary markets, the United States and the UK (Diekola, 2016). Personal banking, commercial banking, investment management, corporate banking, and internet banking are just some of Barclays' many offerings. In addition to individual and small business banking, the bank also provides corporate and investment banking services.

TQM Principles at Barclays and its Significance TQM

Employee Engagement The HR department's TQM principles include employee involvement and open communication. Human capital is a key strategy for the bank in achieving its objectives (Salah, 2018). "We want to promote their health and well-being to empower and drive them to offer exceptional services" the business said in a statement. To boost productivity, the company makes significant investments in the well-being, professional growth, and mental health of its workers. 83 per cent of the bank's employees say they're engaged, with 67 per cent of those surveyed responding (Nyamari, 2017). According to employee surveys, between 74% and 78% of employees report having stress levels they can manage and a work-life balance they feel they have achieved (Parvadavardini et al., 2016). To foster a culture of innovation and creativity amongst its workers, the bank offers a variety of educational opportunities, including classes, workshops, and seminars. Internal clients are just as crucial as external ones when it comes to a company's success. Internal customers and external customers can both benefit from service firms' efforts to improve the quality of the services they provide (Rafailidis et al., 2017). Human resource policies including organisational commitment, employee engagement and training are connected to optimal corporate performance and shareholder profitability. There are ways in which Barclays' present HR policies can contribute to its long-term competitive advantage. Communication An annual poll of employee engagement is conducted by the corporation, allowing for two-way dialogue between top management and the workforce. Employees, consumers, investors, and stakeholders all have input in decision-making and strategy formation (Kugbonu, 2020). To help clients make well-informed financial decisions, the organisation says it is transparent about its financial offerings. The corporation engages stakeholders using surveys, social media, and other broadcast methods. Using Kaplans and Nortons Balanced Scorecard, the company's communication's organisational impact may be measured (BSD). The BSD aims to improve the quality of life for both employees and the general public via better communication (Al Ghamdi et al., 2016). To create connections and satisfy consumers, Kaplan and Norton's approach requires management to communicate. To boost performance and customer happiness, the leaders need to convey their priorities effectively. Management Nyamari (2017) emphasised the importance of leadership in achieving quality objectives in a business. To keep their teams focused on the pursuit of quality improvement, bank leaders instil a sense of urgency in them. Demonstrate a high level of leadership and management to lead the radical adjustments necessary for continuous improvement, Deming claims. To increase productivity and revenues, transformational leadership may enhance the quality of the entire process (Diekola, 2016). Leadership at Barclays is responsible for establishing the bank's long-term strategy and defining its basic principles. To help their employees achieve their goals, they are also directly involved.

Significance of TQM Principles at Barclays

An Ever-Evolving Process This bank has a section dedicated to service and efficiency enhancement. The lean six sigma paradigm, which states that a corporation may enhance product/service quality by removing wastes along the value chain, is used by the company to accomplish continuous improvement (Bouranta et al., 2019). Focusing on theory implies that proper precautions are taken to prevent errors and increase operational efficiency. The business says that it recycles risk-weighted assets to improve operational performance and keep costs in check while also maximising the efficient use of available resources. To reduce inefficiencies caused by inefficient work methods, it has also used new technologies in the invoicing and documentation procedures (Salah, 2018). Banks may enhance their financial and non- financial performances as well as their operations related to supplying chain management by making investments in continuous improvement. The bank's performance may be improved through operational efficiency and better customer service as a result of the continuous improvement projects. Customer-Focus For the bank, customer-focused service is a primary value proposition. Customers' wants and connections are at the heart of all of the company's actions and plans. Investment programmes can be adjusted to match the specific demands of each customer (Rafailidis et al., 2017). Access and tracking of investments are available online for clients. As a part of its financial education programme, the bank offers free telephone updates and money-mentoring services. Barclays Bank also provides new goods and services to enhance the customer experience (Mahanga, 2016). For instance, consumers may save time by serving themselves and gaining access to the majority of the bank's goods and services through the use of the bank's mobile applications and online banking platform. Customers from a variety of backgrounds may simply use the applications because of their basic design. In accounting and banking organisations, customer-centred services improve client happiness, customer loyalty, and customer retention levels (Parvadavardini et al., 2016). These findings suggest that a company's ability to retain customers may be improved by tailoring technology to match the demands of clients. In today's highly competitive market, a company's ability to retain and gain new customers is vital (Kugbonu, 2020). According to the bank, a 32 per cent decrease in customer complaints may be attributed to the bank's efforts to enhance its service delivery method. Customer service is a priority for the organisation, and it has taken the necessary steps to improve it. The bank's operations with reduced defect and waste creation can boost productivity and create cheaper expenses. Additionally, the bank may be able to maintain and grow its client base, resulting in greater financial success (Al Ghamdi et al., 2016). TQM's societal advantages include customer happiness and brand approval in the marketplace. To complement the bank's quality plan, these TQM principles need to be adapted. Using the TQM principles, the bank may fulfil its strategic goals of diversification by implementing four proposals (Diekola, 2016). TQM impacts competitive strategy creation and is a source of sustained competitive advantage, according to research (Nyamari, 2017). A competitive advantage may be gained through the use of the TQM paradigm, according to these studies. Using the 14 TQM principles, a firm may have a competitive edge, better financial performance, and better customer satisfaction. This is confirmed by the company's 2020 annual report, which notes that the improvement in customer satisfaction may be ascribed to the company's quality measures (Mahanga, 2016). Because it concentrated on TQM principles, the bank's financial results have improved.

The Importance of Total Quality Management Barclay's Quality Management System (QMS)

Building a Quality Management System begins with understanding the current organisational environment, which includes things like structure and culture as well as a leadership style (Akanmu et al., 2020). Customer satisfaction was a key consideration in the development of Barclays' quality management system. EFQM is evident in the bank's procedures, which have been scrutinized in depth by the bank's auditors. To achieve excellence, the EFQM relies on five enablers and four outcomes (Carmona et al., 2016). Enablers are concerned with how a company accomplishes its work, whereas outcomes are concerned with the results it achieves. Results are generated through enabling factors, while enablers may be enhanced via the use of feedback from those results (Khan et al., 2017). This methodology helps the company to examine its real condition according to European quality measures and determine its advantages and disadvantages in accomplishing goals (Harthy et al., 2020). Within the annual report, Barclays says it gathers and assess information on the 9 EFQM model criteria and employs the applicable improvement plan to boost each criterion's performance. The bank's planned quality management system (QMS) looks like this.

Quality Management System Dissertation The EFQM model establishes the framework for QMS quality measurements to be focused on, as seen in the image above. It collects information on EFQM enablers, including employees, leadership, strategy, and products/services (Elrayeh, 2016). Customer satisfaction feedback is utilised as a quality indicator for the people criteria, whereas financial development data is employed as a metre for products and services (Waduu et al., 2019). These quality criteria are a reflection of the leadership's commitment to employee development, involvement, and the organization's overall mission. Continuous improvement is possible because of this system's design (Mahmood, 2020). The subsequent phase is to formulate quality policies, define roles and duties within the QMS, make a strategy for the management of risks and opportunities, and, as the last step, devise strategies for the regulation of change.

Elements of TQM

There are several fundamental QM components and building blocks, including ethics, integrity, trust, education, collaboration, leadership, and recognition. An employee's code of ethics is a set of rules that he or she is expected to follow at all times while at work (Harthy et al., 2020) Customers both internal and external expect the bank to uphold a high standard of integrity. Ethics and integrity lead to trust, which in turn determines the level of ownership and dedication to an organisation. Ethics and integrity are demonstrated through the bank's CSR, which can be found in its society criteria in the EFQM (Odeny, 2016). With so much face-to-face contact between customers and staff, the foundation of every successful business is solid training, collaboration, and strong leadership. TQM training helps employees acquire the skills and information they need to properly execute the concepts (Khan et al., 2017). For the bank to meet its quality goals, staff must work together as a team. Investments in quality assurance are a sign of the company's dedication to quality management.

Quality Assessment Standards

An ISO 9001 certification indicates that the bank meets the quality standard. International quality assurance standard ISO 9001 offers precise QMS standards for the company's leadership, planning, operating, assessment and improvement activities (Odeny, 2016). Such measurements are used by organisations to demonstrate their capacity to fulfil all applicable consumer and regulatory criteria for their products and services. The TQM system helps banks achieve their strategic goals by satisfying the needs of their customers (Ishibashi et al., 2021). The QMS can assist the bank in achieving its strategic objectives by meeting the demands of all stakeholders. The QMS is linked to banks' strategic goals by aligning it with stakeholder needs.

Quality Metrics for Stakeholders

The bank provides quality for all stakeholders by regularly reviewing ways to enhance metrics to satisfy their demands (Carmona et al., 2016). Various types of stakeholders' data are gathered, including the following: Customers - Rates of digital involvement with clients - Complaint scores are a measure of consumer satisfaction - The number of bank workers who advocate working there - Customers who would suggest the bank's products and services to their friends and family members - Monitoring the degree to which workers are aligned with the intended company culture is the goal of this indicator Society - The yearly carbon dioxide emissions - Number of participants in the institution's Life Skills programme; the bank hopes to increase financial capability and employability in the community Investors - The bank examines financial results such as revenues, market shares, operating expenses, and equity to determine how to provide attractive returns for investors (El Manzani et al., 2019). Measuring the operational costs aims to tighten budgets and increase productivity for the business.

Key Trends in Quality Management

Competition and increasing consumer expectations are the primary motivators of quality management. Stakeholder opinions of a company's brand and overall quality/services are referred to as perceived quality (Bagur-Femenías et al., 2016). Intelligent quality management uses modern technology and smart systems to improve corporate operations, processes, and product quality (Kumar et al., 2018). The human-focus strategy leverages people to satisfy the company's service offerings and stakeholder satisfaction. These tendencies are important to consider since the example firm operates in a sectorof the economy that is highly competitive and marked by consistent market shifts (Barclay et al., 2017). A good example of a cloud-based technology user is the banking industry. Barclays has also adopted cloud technology to customise its clients' digital experience to current technological advancements. Companies that go out in front of the game or catch up quickly are more likely to have a leg up on the competition (Demir et al., 2021). That's why it's so important for a firm to be up to date on the latest trends to remain relevant in the marketplace. Cloud computing, in keeping with current market demands, shows the company's capacity to implement intelligent quality control systems (Hicks et al., 2019). Barclays also places a high value on its social duties, including reducing its impact on the environment and combating climate change. Perceived quality is directly linked to a brand's image, regardless of its corporate social responsibility (Leung et al., 2021). Many studies have shown that a company's CSR policies have an impact on customer happiness and loyalty as well as its financial performance. Customers' impressions of a company are shaped by their impressions of its perceived quality, which in turn shapes their loyalty to the brand. Human-centeredness is seen in the bank's culture of soliciting input from its stakeholders to enhance its business practices. Human-centred strategies lead to higher levels of employee loyalty and productivity (Nyanaro et al., 2018). There is a correlation between a company's ability to compete in the long term and its ability to develop and retain its human resources. Intelligent quality management systems, which monitor and forecast problems with minimum human interaction and allow real-time communication with stakeholders, can also help the bank achieve its quality targets at a cheap cost (Tahri, 2018). Barrington can use evidence-based methods to improve and make decisions.

Quality Management System Alignment Expectations with the Trends

These new trends will be easier to implement if the organisation has the right resources and competencies in place. For a smooth transfer, you need financial resources, skills, and a well-trained team behind you (Demir et al., 2021). In addition, the business may assist such adoptions by reconfiguring its approach well with current developments in Quality Management. Incorporating QM trends into new strategic goals allows it to realign its overall strategy. Having a strategy aligned with current trends will ensure that resources are allocated accordingly (Maina, 2017). These new trends may be adopted by empowering and encouraging individuals to accept the organisational transformation. Employees can be retrained or reskilled to help them adapt to the new environment. New quality initiatives may face difficulties in gaining stakeholder buy-in. QM often fails because of CEO disinterest. Even if intermediate management is successful, success is unlikely without upper management's commitment (Hicks et al., 2019). Risk aversion and a lack of understanding of the relevance of Quality Management have contributed to the lack of CEO support for a created project. Investment may be discouraged by the high cost of implementing and maintaining QM trends, particularly intelligent quality management systems (Desjardins, 2020). The administration may be reluctant to continue funding the project if it does not show a favourable return on investment.

Conclusion

The quality management procedure at Barclays has been modified to incorporate the concepts of customer orientation, leadership, continuous improvement, communication, and staff involvement (Tahri, 2018). Customers' loyalty and retention are enhanced by the bank's TQM, which adds favourably to its financial performance and productivity. Investors should seriously examine TQM as an alternative source of competitive advantage in light of the competing demands in the business sector (Hudnurkar et al., 2019). For the firm to reach its greatest potential, it needs its entire support. Read the full article

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Innovations in Marketing Strategy

Innovations in Marketing Strategy - As a marketing graduate, I have been asked on a handful occasions on how best to outline innovations in marketing strategy. In today's hyper-competitive business landscape, an effective marketing strategy is the key to unlocking success and sustaining growth. As graduate students of marketing, we understand the significance of formulating a well-thought-out marketing strategy that not only attracts customers but also builds long-term brand equity. In this comprehensive guide, we will delve into the intricacies of marketing strategy, exploring its fundamental concepts, elements, and how to craft a winning strategy that aligns with your business goals.

Marketing Strategy Dissertations

Understanding the Basics of Marketing StrategyBefore diving into the depths of crafting a marketing strategy, it is essential to grasp the foundational concepts that underpin innovations in marketing strategy.Market Segmentation - Market segmentation is the process of dividing a broad target market into smaller, more manageable segments based on common characteristics. Graduate students of marketing must understand the importance of segmentation in tailoring their marketing efforts to the specific needs and preferences of different customer groups. Market segmentation and targeting are not static concepts but evolving strategies that adapt to changing consumer behaviors and technological advancements.Market segmentation, a fundamental concept in marketing, involves dividing a diverse market into smaller, distinct segments based on shared characteristics or behaviors. This approach recognizes that not all consumers are alike and allows organizations to tailor their marketing efforts more effectively. Graduate students should explore various segmentation criteria, including demographic, geographic, psychographic, and behavioral factors, each providing unique insights into consumer behavior.Once segments are identified, targeting comes into play. Targeting involves selecting one or more specific segments as the focus of marketing efforts. This strategic decision is essential for resource allocation and message customization. By understanding the characteristics and needs of the chosen segments, organizations can create personalized marketing campaigns, increasing the likelihood of resonating with their audience and building stronger brand-customer relationships.In today's digital age, market segmentation and targeting have evolved with the availability of big data and advanced analytics. These techniques remain the cornerstones of successful marketing strategies, enabling businesses to adapt and thrive in an ever-changing marketplace.Target Audience - Identifying a target audience is a critical step in marketing strategy development. By defining your ideal customer persona, you can tailor your marketing efforts to resonate with their unique needs, behaviors, and preferences.Identifying the right target audience is a pivotal aspect of marketing strategy. It involves a comprehensive understanding of customer demographics, behaviors, and preferences. By honing in on a specific audience, organizations can allocate resources more efficiently, tailor their messaging to resonate with the intended recipients, and ultimately drive higher conversion rates.Targeting enables businesses to build meaningful connections with their ideal customers, fostering brand loyalty and advocacy. In today's data-rich environment, graduate students must grasp the significance of defining and reaching the right target audience, as it forms the foundation of effective marketing campaigns.

SWOT Analysis: A Crucial Starting Point

One of the first tasks in crafting a marketing strategy is conducting a SWOT analysis. SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. This analysis helps graduate students identify internal and external factors that can influence the success of their marketing strategy.Strengths and Weaknesses - Evaluate your organization's internal factors, such as your resources, capabilities, and market positioning. Identify your strengths, which you can leverage, and your weaknesses, which require improvement. Opportunities and Threats - Examine external factors, including market trends, competition, and economic conditions. Identifying opportunities allows you to exploit market trends, while recognizing threats enables proactive mitigation strategies.

Crafting Your Unique Value Proposition

A compelling value proposition is the heart of any successful marketing strategy. It defines what sets your product or service apart from competitors and resonates with your target audience.Unique Selling Proposition (USP) - Your USP should convey why your offering is superior or different from alternatives in the market. It should address the specific needs and pain points of your target audience. The Unique Selling Proposition (USP) is a vital element in marketing strategy. It encapsulates the distinctive qualities or benefits that set a product or service apart from competitors.A well-defined USP resonates with consumers by addressing their specific needs or pain points. Graduate students should understand that a compelling USP not only attracts attention but also builds brand identity and customer loyalty. Effective USPs communicate value and create a memorable brand perception, contributing to the success of marketing campaigns in a crowded marketplace. Crafting a unique, resonant USP is a strategic imperative for businesses seeking a competitive edge.Clear Brand Identity -Building a strong brand identity is integral to your marketing strategy. Graduate students should ensure that their brand message, visual elements, and tone of voice are consistent and aligned with their value proposition.A clear brand identity is fundamental in conveying a brand's values, personality, and promises consistently across all touch points. It involves defining elements such as the brand's logo, color scheme, typography, and tone of voice. This identity acts as a visual and emotional anchor, allowing consumers to recognize and connect with the brand effortlessly. Graduate students should recognize that a well-defined brand identity builds trust, fosters brand loyalty, and sets the stage for effective, cohesive marketing strategies.

Developing Marketing Objectives and Goals

Effective marketing strategies are goal-driven. Establishing clear objectives and goals is crucial for tracking progress and measuring the success of your strategy.Specific, Measurable, Achievable, Relevant, and Time-Bound (SMART) Goals: Graduate students must craft SMART goals that are specific, quantifiable, attainable, relevant to the strategy, and bound by a timeframe. These goals serve as benchmarks for successKey Performance Indicators (KPIs) - Identify the KPIs that will be used to measure the performance of your marketing efforts. These may include metrics like website traffic, conversion rates, and customer retention.Selecting Marketing Channels - Selecting the right marketing channels is essential for reaching your target audience effectively. Graduate students must consider the following:Digital Marketing - In today's digital age, online channels such as social media, email marketing, search engine optimization (SEO), and pay-per-click (PPC) advertising play a pivotal role. Choose the channels that align with your audience's online behavior.Digital marketing encompasses a wide array of strategies and channels, from social media and content marketing to SEO and email campaigns. It leverages the vast online landscape to reach and engage target audiences effectively. In today's digital age, graduate students must grasp the dynamism of digital marketing, where consumer behaviors, algorithms, and platforms continuously evolve.By understanding this multifaceted field, marketers can harness the power of digital marketing to expand their reach, enhance brand visibility, and drive conversions in an increasingly interconnected world.Traditional Marketing - Depending on your target audience and industry, traditional marketing channels like print advertising, direct mail, and television can still be effective. Evaluate their relevance to your strategy.Traditional marketing comprises strategies that have been fundamental to the field for decades, including print advertising, direct mail, television, radio, and outdoor advertising. These methods, though considered "traditional," remain relevant in certain contexts and industries.For graduate students, it's essential to recognize that traditional marketing channels offer unique advantages, such as broad reach and tangibility. Understanding when and how to integrate traditional marketing into a comprehensive strategy is crucial, ensuring a well-rounded approach that capitalizes on both digital and traditional channels to achieve marketing objectives effectively.

Implementation and Execution

Once your marketing strategy is in place, the execution phase is where the rubber meets the road. Graduate students should:Create a Marketing Calendar - Develop a detailed timeline that outlines when and how each marketing activity will be executed. This helps ensure consistency and accountability.Allocate Resources - Ensure that you have the necessary resources, including budget, personnel, and technology, to implement your strategy effectively.

Continuous Monitoring and Adaptation

Marketing strategy is not static; it requires continuous monitoring and adaptation to remain effective. Graduate students should:Regularly Analyze Data - Use data analytics to track the performance of your marketing efforts. Adjust your strategy based on the insights gained from customer behavior and performance metrics.Stay Informed - Keep abreast of industry trends, market shifts, and emerging technologies that may impact your strategy. Adapt and innovate to stay ahead of the competition.

Innovations in Marketing Strategy Project

Conclusion Innovations in Marketing Strategy

In the ever-evolving world of marketing, graduate students must master the art of crafting effective marketing strategies that drive business success. By understanding the basics, conducting a SWOT analysis, developing a compelling value proposition, setting clear objectives, selecting the right marketing channels, and executing with precision, you can create a strategy that resonates with your target audience and achieves your business goals. Remember that successful marketing is an ongoing journey, requiring continuous monitoring, adaptation, and innovation to stay ahead in the competitive landscape.

References

Kotler, P., & Armstrong, G. (2017). Principles of Marketing. Pearson.Payne, A., & Frow, P. (2014). Developing a wider perspective on corporate reputation management. Journal of Brand Management, 21(9), 693-699.Pulizzi, J., & Barrett, N. (2015). Content Inc.: How Entrepreneurs Use Content to Build Massive Audiences and Create Radically Successful Businesses. McGraw-Hill Education.Hsu, C. L., & Tsou, K. H. (2019). How social media influencers build a brand? Strategies and challenges. Sustainability, 11(7), 1868.Kaplan, A. M., & Haenlein, M. (2010). Users of the world, unite! The challenges and opportunities of Social Media. Business Horizons, 53(1), 59-68.Lee, M., & Youn, S. (2009). Electronic word of mouth (eWOM): How eWOM platforms influence consumer product judgment. International Journal of Advertising, 28(3), 473-499.Smith, A. N., & Noble, S. M. (2014). The impact of social media usage on consumer purchasing behavior. Journal of Retailing, 90(3), 363-376.Kim, A. J., & Ko, E. (2012). Do social media marketing activities enhance customer equity? An empirical study of luxury fashion brand. Journal of Business Research, 65(10), 1480-1486.Escalas, J. E. (2007). Narrative processing: Building consumer connections to brands. Psychology & Marketing, 24(8), 713-741.Innovations in Marketing Strategy Relevant Posts Marketing Strategy DissertationsScience Marketing and Art Marketing Did you find any useful knowledge relating to innovations in marketing strategy in this post? What are the key facts that grabbed your attention? Let us know in the comments. Thank you. Read the full article

#Innovation #MarketingDissertationTopics #MarketingProjects #MarketingStrategy

Enhancing Understanding and Treatment of Foetal Alcohol Spectrum Disorder (FASD) - BSc (hons) Clinical Psychology Dissertation

Foetal Alcohol Spectrum Disorder Dissertation – According to a report published by the Institute of Alcohol Studies in 2019, the United Kingdom ranks among the top five nations with the highest prevalence of Foetal Alcohol Syndrome. The research report also suggests that Britain holds the highest prevalence percentage of FASD on a global scale. The estimated number of diagnosed cases within Britain comprises 61.3 cases per 10,000 live births.

Additionally, the disease burden associated with FASD results in problems such as learning difficulties, hearing and vision impairment, poor growth and development, and behavioural issues. These challenges diminish the quality of life for both the child and the parents responsible for raising them. The rationale for conducting this research is to evaluate the evidence base and determine if choline supplementation could aid in improving cognitive functioning among school children. This, in turn, would support their developmental process and enhance their coping skills.

The research employed a systematic review research design to address the research question. Relevant literature was carefully reviewed using electronic databases such as CINAHL and Google Scholar. Appropriate keywords were utilised, and papers meeting the inclusion criteria were incorporated into the research study.

The intervention of choline supplementation has demonstrated the potential to enhance cognitive functions and memory in children affected by FASD. Additionally, a combination of pharmacological interventions and support systems, including special education and occupational therapy, can effectively assist the child in navigating various developmental stages.

Further research is necessary to validate the effectiveness of genetic precision pharmacological interventions and to confirm the positive impact of choline supplementation on children affected by FASD.

#dissertation #clinical psychology #fasd

This Dissertation Is An Evaluation On How Culture Promotes Economic Development Within The Event Industry - A Case Study of London

This dissertation investigates various aspects of the cultural event industry and assesses its impact on the perspective of economic development in London. Currently, London is a prime tourist destination, attracting people from around the world who come to experience its nightlife, attractions, education, and culture. Consequently, this has significantly contributed to the overall growth rate of the cultural event industry in the London market. This research project evaluates the present value of London’s cultural event industry and also forecasts its future volume.

London is one of the most culturally rich cities on the planet with worldclass institutions and globally renowned talent. The city’s creative economy now employs one in six Londoners and contributes £42bn to the economy. London’s culture and creative industries are vital to the city’s success and Londoners’ wellbeing. Yet too many Londoners are still missing out on the opportunity to access culture and the huge benefits it can bring. The study examines recent articles and magazines to identify the challenges the cultural events industry is likely to face in the near future.

#dissertation #Event Management #business management

This Marketing Dissertation Examines the Influence of Social Media Marketing on Online Buying Decisions - A Case Study of Amazon

Online Buying Decisions Amazon Dissertation – The emergence of social media in the modern era has revolutionized traditional marketing communications methods, such as television, print media, magazines, radio, and newspaper ads. Social media marketing (SMM) is an ongoing process in which companies attract a large user base, especially millennials, through social media networking channels. Additionally, companies utilize social media platforms to promote their offerings and cultivate relationships with stakeholders online.

Amazon, a prominent American cloud computing and e-commerce business headquartered in Seattle, Washington, has a diverse product portfolio. This research aims to investigate the impact of Amazon’s social media marketing on consumers’ online buying decisions, intentions and preferences. To achieve this, a survey was conducted, gathering responses from 100 regular online customers of Amazon.

The research employed an inductive approach and interpretivism philosophy, and the data was analyzed using thematic perception tests. The findings of the dissertation concluded that SMM significantly benefits audiences in various ways, such as providing online information about product quality, prices, and offers. Users can access information instantly with a single click, enabling them to make informed purchasing decisions that align with their needs and expectations. Word-of-mouth (WOM) publicity on social media encourages buyers to choose specific goods and services offered by Amazon’s e-commerce platform, providing them with valuable information to select the best items.

#dissertation #marketing #social media

The Executive Assessment

The Executive Assessment - The Deans and directors of the top ten EMBA global B-Schools attended a workshop in 2015 organized by GMAC, the organization that owns the GMAT program. Most agreed that some remarkable EMBA candidates were hesitant, unable or completely reluctant to take the GMAT. Ultimately two questions remained: Were there remarkable candidates who considered the GMAT as too high an obstacle? Could an alternate evaluation help bring such applicants into the EMBA programs? Evaluation tests like the GMAT are necessary to test the quantitative aptitude of the applicant to see whether they will be able to handle the rigours of the EMBA program. The tests are important to test the understanding of the applicants with regards to mathematical concepts such as statistics and algebra, and for students for whom English is a secondary language to demonstrate that they possess the aptitude to peruse and comprehend complex writings. After the workshop, GMAC took all inputs and observed the concerns and needs and customized a test that would be able to measure the abilities of the candidates to manage the rigour of an EMBA classroom. Today, the Executive Assessment is acknowledged by more than ninety EMBA programs at top notch business schools. The latest school to recognize the exam for admission to its EMBA program is Vanderbilt’s Owen School of Management. The Executive Assessment Since the test is relatively new, there isn’t much study material available for preparation apart from that available on the official website of the GMAT. The Executive Assessment assesses candidates on higher-order reasoning in three 30 minute long sections: Integrated Reasoning, Verbal Reasoning and Quantitative Reasoning. Each section gives a rough score from 0 to 20. Those scores are combined to give a total score within 100 to 200. This score is also considered valid for five years like the GMAT/GRE but you can take the EA only twice. Retaking the Executive Assessment Executive Assessment participants can take the test twice and usually scores improve with the subsequent attempt. For test takers hoping to better their score, consider these preparation tips: - Analyze Evaluate your initial test score for each section. This will help you to figure out your weak spots and enable you to achieve balance across all three sections.- Practice it is a fact that only practice shall make you perfect. Sample practice papers are available on the GMAC website.- Relax You are already aware of the format by now, so try and stay calm; not only will it help you keep focus, it will also help you do justice to your preparation.Advice and tips - You can take the EA twice. Therefore, make the first attempt count. - A calculator is allowed only for the Integrated Reasoning section and not for the Quantitative Reasoning section. Plan accordingly! - Find mistake patterns when you work through practice problems. Brush up on your fundamentals to avoid repetitive mistakes. - Practice using a timer. This helps to uncover mistakes that you tend to make when working against the clock. Most times you will realise that there will be small, silly mistakes that can be corrected easily. - The standard study and practice time is between 10 and 20 hours. However, if you can squeeze in some extra time for the Quantitative Reasoning and Integrated Reasoning sections, it will pay off in the longer run.

The Executive Assessment EMBA We offer a broad range of MBA dissertation topics for students to choose from, covering a wide variety of subject matters. Our dissertation topics include topics related to the sciences, humanities, social sciences, and much more.We have experienced writers who are knowledgeable in all areas and can provide expert guidance and support when it comes to choosing dissertation topics as well as helping you with the entire writing process. If you're looking for resources to help you write your dissertation, there are many available. From research databases and libraries to writing coaches and online courses, there is a range of options available to support your writing journey. Additionally, your university may offer extra support such as proofreading services. Relevant Executive Assessment Posts MBA Dissertation TopicsThe Accelerated MBA ProgramIf you enjoyed reading this post on the Executive Assessment, I would be very grateful if you could help spread this knowledge by emailing this post to a friend, or sharing it on Twitter or Facebook. Thank you. Read the full article

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Accounting Information System

Executive Summary

This report pertains to the selection of an Accounting Information System for an organization having 50 employees and annual revenues of $10 million. A number of accounting information systems has been discussed in the report, but most of them are suitable for a large sized organization with high geographical expansion and huge number of employees. It is evaluated whether a business is small or large, but it always requires the implementation of an appropriate accounting information system to enhance its productivity and reduce its operating expenses.As the company is operating in an apparel industry, therefore, the PolyPM ERP software has been recommended for the better operations of the company because it contains a number of industry specific characteristics. This will help the company in effectively designing its strategies and products, which will increase its revenues in the long run.

Introduction

The paper provides an in-depth understanding of the potential challenges that ABC manufacturing will face due to its high dependence upon manual accounting and other management practices. It is important to notice that even in such a technologically advanced era, where almost all the manual and analogue tasks have been transformed to a digital one, ABC manufacturing is still operating manual systems for managing their accounts and other operational management tasks.The paper is aimed to provide an appropriate suggestion for the selection of a suitable accounting information system that would not only help them in managing their accounts and financial transactions, but will also assist the management in effectively managing other operations of the business.

Company Overview

ABC manufacturing is a small sized family-owned business having its operations in the Melbourne city. The business has 50 employees working at different tasks and locations in the city. It has been established about 20 years ago as a small sized business and their main product line was winter clothes and the main target customers were a number of cloth shops in the city.It has reported revenue of $10 million during the last year, which is a handsome profit for this size of business. The company has recently expanded its business and launched some new product lines, but due to ineffective cost management of the company, it was unable to offer these products to the customers at competitive prices and faced a downturn in the market in terms of revenues and market share.One of the major reasons behind its high operating cost is the company’s manual operational and managerial practices because it has to hire a number of personnel for managing different tasks of the company, which can be otherwise cost effectively and efficiently performed by establishing an automatic or computer-based infrastructure for the management of all the major tasks of the company. With the help of such systems, the company would become capable of performing and monitoring multiple tasks simultaneously even in remote areas of the country.

Business Requirements

The current concern of ABC manufacturing is related to the uncontrollable operating cost of the company, which is causing huge losses to the company’s reputation and earnings as well. The major reason behind such a high operating cost is its manual business practices because manual operations don’t only require higher number of employees, but also requires a large office area and other related expenses to accommodate these high numbers of employees.Therefore, the company needs to employ such an expert information system that will not only address the accounting related requirements of the company, but will also help the management of the company in reducing their operational expenses to increase its efficiency and performance. It will also help the company in transforming its manual sales management and revenues recognition methodologies to a digital one, which will enhance the accuracy and efficiency of the sales function of the organization and increase the overall productivity of the organization (Dickhaut & Lere, 1983).For the success of a business, it is necessary to have such a competent team of the management, which can make timely and accurate future forecasts regarding the company’s future performance and earnings, such forecasts are usually based upon the company’s past performance and the adjustment of its operations towards the changes of the internal and external economic factors.It is reported that the company has been planning to expand its business to other markets of the city and even outside the city, therefore, it is necessary for the management to make a competitive feasibility report regarding the company’s expansion of its operations. The feasibility report should be based upon certain realistic estimates and calculations because the company has to take their decision on the basis of that report.Communication plays a vital role in the development and success of any sort of business because it keeps the employees updated about different departments and functions of the organization. Therefore, it is necessary to integrate an effective communication system into the current organization structure, which will help the company in effectively executing certain activities like job rotation and job enlargement. Inventory management is one of the important processes of an organization that can have a great influence over the future performance of a company.In order to meet the increasing market demand and retain its customers in the long run, the company has to maintain an effective inventory management system. Which will not only help it in maintaining an effective purchasing function, but also help it in reducing the cost by employing a just in time inventory system. Although, the company has a limited number of employees, but in relation to its size that the management of these employees also becomes a very tough task, therefore, the company needs to have a competent payroll system.So that it can become capable of keeping the payroll record and disbursement of salaries to the individual bank accounts of all the employees on certain fixed time, i.e., on the 1st day of a starting month or on the last day of an ending month. For a customer-centric organization, it is very necessary to meet the changing trends and demands of the market because it would not be capable to stay in competition without addressing the needs and demands of the customers.Therefore, the management of the company should be capable of evaluating the changing trends of the market and it should be able to timely respond to these changes. This will help the company in capturing the potential customers on a timely basis and give a competitive edge to the rest of the industry.

System Requirements

AIS should be designed in such a manner that it can cover all the business functions of ABC manufacturing, i.e., from managing the accounting transaction system for supporting the top executives of the company in financial planning and decision-making processes. The system should connect all the three major operational departments of the company, i.e., sales, purchasing and production, so that the transactions can be summarized for the internal decision making of the middle line managers.The AIS should also be equipped with a sophisticated cost accounting system, which will help the management in tracking the total cost associated with the production of a product. This will help the company in proper allocation of its resources and also help it in exploring different opportunities to lower down the production cost. It should also have certain qualities of an expert management system, which means that the system should be capable of organizing data in a logical manner and then forming decision on the basis of this information (Dickhaut & Lere, 1983).The AIS should be updated according to the applicable financial reporting framework of the entity and should also comply with all the legal requirements of the country where the entity is having operations. It should be capable of exercising strong internal controls over different functions of the organization and connect different departments of the organization with each other through a cloud computing mechanism. It should contain tools like customer relationship management, supply chain management and capable of using advanced accounting techniques, i.e., activity-based costing (ABC system). This will help the company in performing improved managerial reporting by employing a number of analytical techniques.

Software Selection

There are a number of companies that are offering different software packages to the business community. Some of them sell the software as an end product to the buyer, while the other enter into a service agreement with the companies and offer them different packages, while retaining the ultimate control and ownership of the software with themselves (Fulmer & Gerard, 2015). Intacct is one of the most efficient and productive software that can be employed in a small or midsized business. It is a SaaS (Software-as-a-service) product, which means that it can be accessed at any time by visiting the website of the company through a browser.It offers a number of products according to the requirement of the entity and support applications for the management of core accounting, project accounting, revenue management, purchasing, order and billing, multi-currency management, financial reporting and also help in the decision-making process (Wu & Cao, 2009). Another software known as Sage ERP is a collection of different products that are designed to meet the requirements of a highly diverse industry, i.e., Sage ERP Accpac, MAS and X3. These products cover a wide range of services and provide a competitive environment for a manufacturing concern. Sage ERP offers functionality for inventory control, supply chain management, manufacturing and distribution, material resource planning and human resource management.PolyPM provides a complete ERP and PLM solution for small and mid-sized manufacturing and distribution concerns. The software is specifically developed for a company operating in the apparel manufacturing industry. It offers a wide range of industry specific services and possess certain unique characteristic like it can be customized according to the requirements and size of the business. The developer of this software is easily accessible and ready to help the users at any time on their doorsteps. It can be implemented in an organization having annual revenues not exceeding $300 million.The company is currently operating in a single city with 50 employees and $10 million annual revenues; therefore, a medium sized ERP software is suitable for the company, which would only be able to manage the key operational and management functions of the company. Implementing a medium ERP solution will require lower capital investment as compared to implementing a high-end solution.It is evaluated that the company is currently operating manual systems and it would require a significant number of resources to train the employees of the company to run a totally computerized system. Therefore, initially the implementation of a medium level ERP will help the company in arranging a suitable training environment for its employees, where they can learn how to carry out computerized based operations. This will reduce the expenses of the company by eliminating the cost required for the training of the employees (Mojzis & Coufal, 1970).Another reason behind the implementation of a medium level ERP is its user-friendly interface, which will reduce the risk of error and execute different functions of the organization effectively even during the trial period. Unlike the high-end complicated ERP solutions, the medium level ERP system will not require the company to transfer all of its departments to the computerized system simultaneously rather it will provide an opportunity to initially implement the ERP over some of its departments and if the response is favorable, then the company should extend this system over the rest of the organization as well. This will help the company in evaluating the performance of the proposed ERP system and also help it in fixing the weaknesses of the proposed system (Kamiński, 2010).

Accounting Information System Vendor Selection

The Sage ERP and PolyPM ERP solutions are the most suitable options for the company and the company has to make a choice out of these two solutions because the ERP solution offered by the Intacct is not suitable for a business like that of ABC manufacturing. Sage ERP solution is developed by the Sage Company, which is a $2.24 billion business and headquarter of the company is located in England. The company is also operating in other regions of the world under the same brand name (Jutras, 2003). It offers a number of ERP solutions and users have to make their choices according to the specific requirements of their business.The company also develops software on the demands of the customers and sells it to the buyer as an end product. The Sage ERP X3 is the most suitable product for ABC manufacturing because it is a very cost effective and easy to use product. Users can integrate this software into different processes of their business through a single common system that can be accessed through a single user interface. The software will help the management in timely decision making by dealing different issues of the customers and business in real time scenarios.It is also capable of addressing the changing business environment and demands of the customers due to the growth of the company enabling the users to improve the productivity of their operations. This software can translate multiple languages for the users and can be used at different locations simultaneously. However, the implementation of this software would require the company to invest heavily at the start, but it will benefit the company in the long run.PolyPm software is an ERP solution developed by the Polygon Software Company, which has a long history of developing industry specific software for the apparel industry. The company had developed its first software about 30 years ago, known as the PloyNest. However, with the development of technology, most of the businesses have started to transform their operations on the ERP solutions and therefore, the company had also developed a unique ERP solution that is also having the PLM/PDM in addition to the ERP, which are integrated into a single application. The software allows its users to integrate all the functions of the organization from product development to distribution processes.It helps the management in building an understanding about the specific market requirements and changing trends of the market, so that they can adjust their products accordingly (Chen et al., 2011). Unlike the Sage ERP X3, it can be customized according to the specific requirements of a user’s business and can be installed directly into the client server and run over the SQL database of the Microsoft. This option will reduce the cost of implementation of new ERP software. By incorporating all the steps involved in product development, companies can get a better understanding of the overall lifecycle of a product, from the development of an appropriate and attractive design to the execution of production and distribution activities.Some of the functions that are incorporated into the software and related to the specific requirements of the apparel business include fabric inspection, size ranges, Cut planning and CMT production. The software also contains some standard production functions to enhance the quality of the products like PSV, order tracking and BOM. It also connects different departments of the company with one another so that they can effectively communicate and share their individual experiences (Bell et al., 2010).

Accounting Information System Recommendation and Conclusion

I would recommend the PolyPM software to the ABC manufacturing company because the company is operating in the apparel industry and this software has been developed according to the specific requirements of the apparel industry. The software contains all the functions and specifications that can easily meet the requirements of ABC manufacturing. It will help the management of the company in managing their operations and product development activities and just like other management expert system, it will also provide suggestions to the management regarding incorporating different sort of changes in its products.Due to its simple to use interface and low system requirements, it will not require the company to invest heavily in its installation or implementation in the organization (Fulmer & Gerard, 2015). The proposed ERP system will also help the company in managing its inventory, because inventory management is the most important function of an organization and a slight miss management of this function can cause huge losses to the organization, i.e., goodwill, customers and corporate reputation.The proposed ERP solution will also make a real time connection between different departments of the company and especially between the production, inventory and sales department, this will help them in effectively communicating with each other, which will not only enhance the quality of the product but will also reduce the material wastage (Daneva, 2004).

Accounting Information System ERP A strong communication between different departments of the company will allow its management to implement a just in time inventory management system, which will further reduce its operating cost and the company will become capable of offering its products at competitive prices, based on the successful deployment of an accounting information system ERP.On the basis of the discussion made in this paper, it has been concluded that Accounting Information System can enhance the productivity and performance of an organization and open a number of new opportunities in terms of new business ventures and growth strategies. The selection of an appropriate Accounting Information System should always be based upon a critical evaluation of the organization’s needs and operations (Hamilton, 2003).Although, the implementation of such software requires a high initial investment, but in front of the long-term benefits associated with the establishment of such software, these elements are negligible. However, it is observed that a competent software is the one that can incorporate all the legal, ethical and accounting standards and implement them in the operations of the organization. Read the full article

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Patterns in Foreign Direct Investment

Patterns in Foreign Direct Investment - One of the greatest phenomena that the era of globalization has witnessed is that of rising Foreign Direct Investment. With technological advancements, end of the cold war and the boom witnessed in the financial services sector, we see firms increasingly looking towards foreign shores to establish their interests and thus boost profitability. Simply put, Foreign Direct Investment is the act of making an investment on part of a company in a business in another country. This paper will discuss the merits and faults of FDI and the role that it plays in the calculus of global business. There are three forms of foreign direct investment. Firstly, the firm may acquire stocks in a host country’s company or may form an affiliate of sorts. This is a rather complex form of FDI. A simpler form is where the company simply reinvests the profits of the affiliate in the host country. Finally, the third method is where the companies raise capital through stock market in the host country. In today’s world, a company can transform through an evolutionary process. Ohmae (1990) described the stages of evolution as early internationalization, exporting, production, complete and true globalization. Basically, the firm goes from using agents for export to setting up shop in the host country until the point where the company becomes truly global. In many cases, this process is sped up by the use of FDI, which is a wonderful miracle for the businesses of today. Why a company may turn to FDI can be explained by a number of motives. Dunning (1993) identifies 4 primary reasons. Firstly, it could be to attain access to resources that may not be available in the home country. Secondly, FDI could be a tool to gain access to untapped markets with massive potential. Usually, alternatives to FDI such as exporting and licensing may face trade barriers or challenges such as monopoly laws, customs restriction and high tariffs. By using FDI, companies can avoid all such issues. A third reason for opting for FDI could be that it allows greater efficiency. The country being invested in may have low-cost labor or raw material or may provide low-cost manufacturing. Finally, FDI may be a tool for acquiring strategic assets. Often, in markets where there is rising monopolistic or oligopolistic behavior, firms can turn towards FDI to protect themselves in such harsh business environments. They may acquire certain assets, build specific capabilities or establish themselves in certain markets by using FDI, all for the simple reason of protecting the business against oligopolies. It is important to first understand the nature of MNCs and how they integrate. When a company acquires or combines with another company that is producing a similar product which happens to be at the same stage of production as that of the company itself, we call such a company as horizontally integrated MNC. The motivation behind such an integration may be to diversify risk or lower costs. On the other hand, vertically integrated MNCs are such that acquire or merge with a company that is involved in a different stage of production for the same product as that of the company. An example could be that of an oil marketing company acquiring an oil drilling company. An entirely different type of MNC is that called Conglomerate MNC. It occurs when a company acquires or merges with another company that is producing a different product. Another important distinction to understand is in that of the multiple kinds of investments and the purposes that they serve. Firstly, Brownfield Venture means an investment that is intended to improve the existing capacity or efficiency. In contrast, a Greenfield Venture means an investment that results in the construction of a new establishment or plant in the country where the investment is being made. Foreign Direct Investment trends are often hard to identify and it is even more difficult to pin down the underlying factors that cause such trends. A recurring theme, however, has been that of the effect that global recessions and financial market meltdowns have on the FDI trends. As is evident from figure 1, FDI understandably fell after the 2008 recession. Slowly, global economies have been getting back on their feet but it is curious to note that FDI inflows to developed economies has generally followed a downward trend.

Developing Countries and Patterns in Foreign Direct Investment

In contrast, the developing economies have seen a rise in FDI, albeit at a slow rate and with many fluctuations. To further argue this point, author argues that “Notably, the high-wage differential between West Europe and Asia has been the most significant factor contributing to the restructuring of US FDI during 1981–2000” and that “Populous countries such as China and India have been further liberalizing their economies and improving infrastructure” (Sethi et al 2003, p.325). Figure 2 shows data for year 2015 identifying the countries that attracted the greatest FDI inflow. The United States leads it all the way followed by China and Netherlands. While this data confirms the understanding that the US and Western Europe continue to be the recipients of most of the FDI, it must be noted that China, India and Brazil also receive a considerable amount of the FDI which shows the rise of what is called the ‘BRICS’ bloc.

Foreign Direct Investment Inflow Table 1 identifies huge growth in the FDI inflows for developed countries and developing Asia. Quite curiously, it may be noted that the inflows to Africa and Latina America actually fell.

Patterns in Foreign Direct Investment Following the same trend, Cross-border mergers also grew enormously for developed countries. While on the subject of developing Asia, it will be pertinent to consider the trends in FDI specific to this region, given the fact that it is rising to play an increasingly important role in global economy. The ASEAN Investment Report 2016 notes a number of interesting observations. It identifies the close relationship between USA and this region in the following words: “South-East Asia is host to the largest number of United States companies in Asia, with over 1,500 companies operating in ASEAN. Some 70 per cent of the 130 United States MNEs listed in the Global Fortune 500 in 2015 are present in the region. United States FDI stock in ASEAN has risen sharply in recent years, from $50 billion in 2000 to $226 billion in 2014”.

Sources of Foreign Direct Investment Finance The report also indicated that while FDI flows declined in 2015 as compared to 2014, “FDI in manufacturing rose, equity capital financing of FDI activities was at an all-time high, and regional investment expansion by MNEs remained strong” (The ASEAN Secretariat xiv, 2016). Finally, the form of FDI that was most popular continued to be equity investment as is evident from figure 1.4. Developing Asia has enormous influence with regards to the inflow of FDI in these economies. A UNCTAD identifies that “developing economies saw their FDI reaching a new high of US$741 billion, 5% higher than in 2014. Developing Asia, with its FDI flows surpassing half a trillion US dollars, remained the largest FDI recipient region in the world, accounting for one third of global FDI flows” (Global Investment Trends Monitor). Having said that, the same report concludes that while FDIs have indeed increased, there is little constructive impact on the global economy because there is little Greenfield investment. Overall, a slowing global economy and fragile geopolitical scenarios are making analysts all over the world issue grim outlook regarding the FDI flows globally. It is appropriate to discuss the structural variations that have been noted in FDI. Primary and manufacturing sectors have been involved in increasingly lesser FDI flow while the service sector has been on the rise. This has multiple implications because services, unlike manufactured goods, cannot be stored and sold later. This is why we see that service industry firms are increasingly establishing outfits/branches in other countries, often at heavy costs. The reason why such firms are willing to bear these costs is because globalization offers greater payoff in the long term as getting established in multiple markets allows these firms to attract a greater number of customers. Furthermore, many economies in the world have been moving towards deregulation which has also boosted service trade. A point to be noted here is that the rise of nationalism can certainly hurt FDI as politicians with ‘protectionist’ agenda are voted to power. To understand FDI patterns, it is also important to consider the several theories regarding this topic. One theory presented by Raymond Vernon suggests that FDI really depends upon the product lifecycle. What this basically means is that there is a period of growth which stimulates production both at home and abroad. Soon, the foreign production becomes competitive which marks the beginning of the maturity stage in the cycle. This competition then seeps into the domestic market thus leading to a decline in sales. This is the product lifecycle theory. The International Production theory which basically states that a firm considering foreign investment is likely to be swayed by the attractions presented by the home country relative to those provided in the country which is under consideration for investment. A number of economists have presented arguments against this theory citing the relatively recent patterns noted globally. A key argument is that while the theory would suggest that businesses should move to developing countries since they provide a cost advantage, the actual pattern is quite opposite because businesses are moving to developed countries to take benefit from the greater market opportunities in those economies. Another curious business behavior is explained by the oligopolistic theory. This theory says that when one major firm of an industry moves abroad, its competitors feel obliged to copy the behavior. This may be done with a motivation to prevent the competitor from tapping into an unexplored market. While this doesn’t necessarily explain why a business might move to a developed country, some economists suggest that in a lot of cases, firms are simply copying each other in moving to developed countries. Internalization theory talks about controlling activities in the intermediate market and bridging the gaps in the various stages of production by moving into new markets. What this means that a company may use its subsidiaries to attain raw materials for its primary concern. It is curious to note that while this theory may hint towards a Greenfield pattern with regards to manufacturing companies, the reality is quite different as such firms have stayed away from investing in developing countries.

Patterns in Foreign Direct Investment Theory

Another interesting theory is the market imperfection theory. What this basically means is that a company’s decision to invest in foreign economies may be motivated by a variety of factors. This includes its competencies and capabilities that are unique to the company and not shared by any of its competitors. There exists great information asymmetry especially with regards to the relationship between exchange rates and its impact on FDI. This can cause variations in the cost of external financing as compared to internal financing. A very important theory to consider is the OLI eclectic paradigm which was developed by John Dunning. He argued for the benefits of FDI as compared to exporting or licensing. His argument was that if a firm is to involve itself in profitable FDI, it must have 3 advantages: ownership-specific, location-specific and internalization. The first one is self-explanatory; FDI cannot be successful until the firm undertaking it has a competitive advantage in form of a tangible asset e.g., manpower, capital. It may also have an advantage in intangible assets such as knowledge, access to markets. The second advantage is location-specific which means that the country being invested into must have an advantage as a location such as infrastructure, natural resources, government incentives etc. Finally, internalization is necessary otherwise the firm may as well simply hire a firm in the other country to do the task. Internalization is basically a tool to exploit the market imperfections in price. While these theories are important to understand, what is even more crucial is the effect FDI can have on the country receiving all the investment. Some of the more obvious benefits include greater employment, tax revenue generation, transfer of technology and other spillover effects. A more subtle effect can be increase of competition which makes markets more efficient thus ultimately helping the consumers. Disadvantages include the fact that the firms investing in a country are usually large MNCs which have greater market power than local firms engaged in the same industry. Thus, greater FDI could really hurt local business. In some cases, FDI can also adversely affect the balance of payments. This happens when the investing firm imports its capital from abroad. Finally, there is the feeling of the economy being high jacked by powerful MNCs. Many consumer protection groups thus argue that FDI can hurt the local consumer and national interest in the long run. In conclusion, it may be argued that while FDI has its merit, the current global outlook does not seem too hospitable for such form of investment. While unemployment and terrorism have allowed the rise of nationalist governments in most of the western civilization, it can lead to decreased FDI in the less developed countries. Governments may pressurize companies to invest within the country rather than taking the business to a low-cost country. This will not only reduce FDI, it will also reduce efficiency and may contribute towards abject poverty and a whole host of other problems for the developing nations. Increasing concerns over China and its overheating economy will also have implications for investors’ investment behavior and it will be curious to watch whether the concerns over China’s alleged credit bubble have any effect on FDI patterns globally.

Works Cited

Sethi, D et al. "Trends and Patterns in Foreign Direct Investment Flows: A Theoretical And Empirical Analysis". Journal of International Business Studies 34.4 (2003): 315-326. Web. 12 Jan. 2017. Ohmae, Kenichi, The Borderless World; Power and Strategy in the Global Marketplace, London: Harper Collins, 1990 The ASEAN Secretariat, ASEAN Investment Report 2016 - Foreign Direct Investment and MSME Linkages. ASEAN Secretariat and United Nations Conference on Trade and Development, 2016. Print. United Nations Conference on Trade and Development, Global Investment Trends Monitor. United Nations Conference on Trade and Development, 2016. Print. No.22. Relevant Patterns in Foreign Direct Investment Research Foreign Direct Investment (FDI) In Bulgaria Dissertation Competitive Dynamics in Emerging Markets: The Case of China’s FDI Inflows Impact of FDI from Developing Countries to Developed Countries Where Can I Find Finance Dissertations Question: What other patterns in foreign direct investment have you encountered that have not been covered in this post? Feel free to leave a comment below Read the full article

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Black Lives Matter and Police Brutality in the United States

Black Lives Matter and Police Brutality in the United States - “Our police force was not created to serve black Americans; it was created to police black Americans and serve white Americans”. The quote by Ijeoma Oluo from the book, “So You Want to Talk About Race,” serve as a constant reminder of the prevalent nature of police brutality in the United States against the racial minorities. The Fifth and Fourteenth Amendments of the Constitution champions for equal protection under law. The two amendments (5th and 14th) require both federal and state governments to offer equal protection and follow due process as stated in the country’s constitution. Furthermore, police play a critical role in society by maintaining law and order, protecting property, and lives. In some circumstances, police are allowed to use reasonable force in the course of their duty. But what is reasonable force? Police brutality in the United States is caused by racial biasness against minority racial groups and overcoming such practice require members of the various police departments to be subjected to inclusivity training. Black Lives Matter protests are a clarion call to end police brutality, systematic racism, and promote racial equality in the United States. Global protests are on the rise in various parts of the world because of increased cases of social evils, political, and economic challenges such as corruption, discrimination, and marginalization of the minority groups. Protests play a critical role in the development of a nation since they aim at informing, sensitizing, and demanding for change. The Black Lives Matter protests were meant to sensitize the world about police brutality against African-Americans, systematic racism and racial discrimination in the United States. Consequently, the protests were meant to put pressure on the government and various police departments to act and protect African-Americans from police brutality.

Black Lives Matter (BLM) and Social Media

Social media plays a critical role in facilitating global protests as it connects people and provide an avenue for people to air their views leading to a national and global discourse. Racial discrimination and inequality is common in the United States. Racial minorities and marginalized communities’ rights are violated based on stereotypes. Black Lives Matter global protests is a call for equality and demand for the stop of police brutality against African-Americans. Police departments in the United States have the “use of force” policy that dictates how and when authorities can apply force in the line of their duty. The force applied by police should be reasonable (Taylor, 2018). However, the word reasonable is relative and some officers apply excessive force in the course of their duty. Moreover, the definition of “reasonable force” differ from one state to the other. For example, George Floyd was killed by a police officer who used a chokehold (neck restraint) – some states believe that using a chokehold is reasonable while other states such as New York have banned the use of chokeholds since 1993 (Hawkins and Thomas, 2013). Police brutality against the racial minorities such as African-Americans in the United States dates back to the mid-20th century (Taylor, 2018). However, the inhumane treatment by the police against African-Americans was unknown to the Whites until mid-1960s since the media did not highlight the issue as it was considered news unworthy. Cases of police brutality against African-Americans were covered by African-American press and civil rights organizations that championed for equal treatment of all races (Hawkins and Thomas, 2013). African-Americans with the help of other like-minded citizens have fought for equal protection and treatment under law but they continue to face numerous challenges. From the 1960s, police brutality was one of the main catalyst for race riots that took place in urban America (Hawkins and Thomas, 2013). The Watts Riots of 1965 and the Detroit Riot of 1967 were inspired by police brutality against minority race in the country. Additionally, in 1980 the Liberty City section of Miami erupted into riots after police killed an unarmed African-American (Taylor, 2018). In 2020, the United States faced countrywide riots by the Black Lives Matter after the killing of George Floyd. History illustrates that police brutality against racial minorities such as African-Americans continue to exist. What is the solution to police brutality against racial minorities in the country? Police reforms without changing the mindset of the officers have proved to be worthless in the quest to end police brutality against African-Americans in the United States. Article 1 of the Universal Declaration of Human Rights asserts that all humans are born free and equal in dignity and rights (Hawkins and Thomas, 2013). As a result, everybody deserves equal treatment and protection under the law. African-Americans make up 13% of the United States population but because of police biasness, the number of African-Americans incarcerated in state prisons across the United States are more than five times the rate of whites who contribute to 62% of the nation’s total population (The Sentensing Project, 2020). Additionally, the Bureau of Justice Statistics asserts that 38% of state prisoners in the country are African-Americans, 21% Hispanics, and 35% are Whites (The Sentencing Project, 2020). The figures from the prisoners around the United States are disproportionate considering the overall population of the country. Consequently, police brutality and biasness against African-Americans can be a contributing factor to the nation’s prison composition. The United States is a diverse country with people from different backgrounds. The solution to the historical inhumane treatment of African-Americans by the police require cultural diversity training. United States’ criminal justice system is biased against African-Americans based on rate of incarceration, execution of death penalty, and wrongful convictions (Hawkins and Thomas, 2013). Consequently, cultural diversity awareness training for police officers can be a vital role in curbing police brutality in country.

Blacks Lives Matter and Police Inclusivity Training

Inclusivity training is essential since it grants people the skills to better work with others of divergent abilities, gender, race, training, nationalities, and sexual orientation. Furthermore, diversity training allow the trainees to learn and overcome myths and misconceptions about people from other cultural backgrounds. Inclusivity training will help the police view African-Americans as other United States citizens and treat them equally to other races (Déverge, 2016). Police officers depend on members of the community to provide them with information that help in the maintenance of peace and order. Consequently, diversity and inclusion training with better the cooperation between police officers and African-Americans and curb the rate of crimes in the country (Moon et al., 2018). Additionally, the government lose taxpayers money because of wrongful conviction and compensation to the victims of police brutality (Déverge, 2016). Inclusivity training and cultural difference awareness can help save the money as it will curb police brutality in the country. Curbing police brutality in the United States require a collective approach among all stakeholders (Moon et al., 2018). Reforms should be centered towards changing the mindset of police officers about African-Americans and it can be achieved by making it mandatory for all officers to go through inclusivity training. Excessive use of power among police officers is among the reasons that adversely impact the relationship between the police and the public. Furthermore, the use of outdated policing techniques can lead to the deaths of citizens and negatively affect the relationship between the public and the police (Lum et al., 2016). For example, the chokehold technique led to the death of George Floyd and led to unrest in the country adversely impacting the relationship between African-Americans and the police as they felt they were discriminated against and brutalized by the authorities.

Black Lives Matter and Police Brutality in the United States Technology can help in curing such challenges because it can provide the police with less-lethal weapons such as the conducted energy devices (CEDs) and pepper sprays (Lum et al., 2016). The use of deadly force by the police is among the main reasons that contribute to social unrest and conflict between the police and the public. As a result, the development of less-lethal weapons can assist in reducing the force used by the police when on duty.Overall, historically African-Americans have been victims of police brutality and systematic racism because of the myths and misconceptions associated with the race. United States is a diverse nation with people from different backgrounds and cultures. Curbing police brutality in the United States require police officers to be subjected to inclusivity training. Diversity and inclusion training helps trainees understand people from diverse cultures and treat them as humans despite the differences in race. Police brutality has social, economic, and political ramifications and it should stop for the country to remain united. The Black Lives Matter protests were successful around the globe since it sensitized the world about police brutality against African-Americans and racial discrimination. The football world continues taking a knee as a sign of solidarity with the affected parties. Ending racial discrimination and police brutality require collaboration among all stakeholders. The Black Lives Matter demonstrations illustrated the importance of solidarity and unity of purpose in fighting social evils.

References

Déverge, C. A. (2016). Police education and training: A comparative analysis of law enforcement preparation in the United States and Canada. Hawkins, H., & Thomas, R. (2013). White policing of black populations: A history of race and social control in America. Out of order, 65-86. Lum, C. M., Koper, C. S., Gill, C., Hibdon, J., Telep, C., & Robinson, L. (2016). An Evidence-assessment of the Recommendations of the President's Task Force on 21st Century Policing: Implementation and Research Priorities. Alexandria, VA: International Association of Chiefs of Police. Moon, S. H., Morgan, T., & Sandage, S. J. (2018). The need for intercultural competence assessment and training among police officers. Journal of Forensic Psychology Research and Practice, 18(5), 337-351. Taylor, C. (2018). Fight the Power: African Americans and the Long History of Police Brutality in New York City. NYU Press. The Sentencing Project. (2020, July 9). The color of justice: Racial and ethnic disparity in state prisons. The Sentencing Project. Black Lives Matter (BLM) Relevant Blog Posts Social Class and CrimeSociology Dissertation Topics Did you find any useful knowledge relating to Black Lives Matter (BLM) protests and police brutality in the United States in this post? What are the key facts that grabbed your attention? Let us know in the comments. Thank you. Read the full article

#BlackLivesMatter #BLM #PoliceBrutality #SociologyEssays

Islamic Banking Versus Conventional Banking

Islamic Banking Versus Conventional Banking Assignment

More than ever before, we live in a global society where an economic disaster in one country can topple the financial security of every other nation. Currently, there are two primary banking systems competing for market share and each claiming that they know best. If we think of Islamic Banking versus Conventional Banking as a sport that results in only one winner, then we are overlooking the benefits that each can offer to global betterment. This paper explores the potential for establishing a global system that creates a stable economic environment using some of the best features of each system.Over the past two decades, Islamic Banking has increased at a faster rate than Conventional Banking and social banking, its counterpart in Europe “increased 20% per cent per year and doubling their assets between 2007 and 2010”. Benedikter, R (2011). One of the advantages of Islamic banking that is attractive is that it focuses on doing business in a way that creates a method of social responsibility for the greater good by focusing on the individual. Islamic Banks are not allowed to do business in a way that could put the customer in jeopardy of a harmful outcome. Dubai Islamic Bank, (n.d.) As a result, Conventional Banking systems are beginning to look at their business models in the light of corporate social responsibility while other financial systems are exploring methodologies of conscious capitalism. “… social banking and social finance have become important trends among bank customers in Europe” Benedikter, R (2011) Yet, in spite increased desire by the public, the concepts of Islamic Banking are still finding it difficult to compete with conventional banking methods both in Islamic nations and in non-Islamic countries. Khan, M. F. and Porzio, M. (January 2010, p 82-83) suggest in their book, ‘Islamic Banking and Finance in the European Union: A Challenge’ that Islamic Banking should be thought of in terms of “ethical performance and substantial destination of the funds rather than as an application of Islamic Law.” This change in the philosophy of how Islamic Banking functions could open doors to the creation of new investments and investors allowing greater opportunity for national economies to compete in meeting the needs of their own societies. Khan and Porzio are not alone in their assessment for a need to form a collaborative financial system that produces a better outcome for global financial security. Bennett, M.S. and Iqbal, Z. (2013) suggest the development of fixed income products that could attract both socially, responsible and Shariah investors. Likewise, in Europe and the U.S., there is a demand for more accountability to society –at-large when it comes to decisions banks and financial institutions make. “The younger generation requires that their work and their businesses align with their values, and their values call for sustainable growth that considers people and planet.” Hanlon, P (September 23, 2012) This type of thinking indicates that the concepts of fairness, justice and responsibility are shared by many cultures, religions and philosophies which is a hopeful sign that the old, mainstream banking methods are going to be forced into change. In Europe and the U.S., another alternative to social banking is constructing banks that are developed according to and adhere to conscious capitalism. According to John Mackey, the social banking lays moral convictions on top of its underlying premise while conscious capitalism places the ideals of a higher purpose and community needs over its profitability. Schwabel, D. (January 15, 2013) As Katie Kerr stated in an interview for Forbes magazine, “…if we can take the power of business to create more positive impact, we can create better communities, create better environments, and become a stronger positive force.” Hanlon, P (September 23, 2012) One argument that is presented by Conventional Banking promoters is that Islamic Banking is unable to sustain its profits. Yet, there is empirical data showing that the differences between return on assets and return on equity are minimal when examining the two systems side-by-side over the same time frame. Islam, K.M.A. (2014). Another reason why countries like France and the U.S. from embracing the potential benefits of Islamic Banking is the very words Islamic and Shariah. There exists a deep-rooted assumption that anything connected to either is going to destroy their nation and their belief systems. France came very close to passing an amendment to their tax codes in 2012 which would have allowed the formation of Islamic Banking systems. Then, at the last minute, someone noticed a phrase that pulled the plug “…to conform with the ethical principles of Muslim law or sharia.”Islamic Finance in France, (November 12, 2009) On the Islamic banking side, problems of controlling the funds in keeping with Shariah law have resulted in the closure of Islamic Banking Windows as a means for Conventional Banks to fill the needs of their customers. The Economist, (February 6, 2012) This small step forward to bringing awareness of an alternative banking method to non-Muslims and of supporting the needs of the local Muslim community to be comfortable with their banking decisions was based on the idea that the banks are a means to purifying finances. While they may have a point for the Muslim world, the decision implies that only a certain group of overseers has the authority to determine what is either “pure” and by extension, demeans all other institutions as evil or bad.

Islamic Banking Versus Conventional Banking The challenge for setting guidelines for Islamic banking arises when the place it wants to go is vastly different from where it is right now. The Basle Committee for Banking Supervision presented agreed upon guidelines but even if they are all implemented, the Islamic banking system may still not actually reflect the tenets of social justice, which is the primary objective described in every Islamic bank’s mission statement. Hassan, K. and Lewis, M., (2007, p 325-326)While Islamic banks offer many positive solutions to global stability, both Hassan and Lewis’ assessment Hassan, K. and Lewis, M., (2007, p 325-326) and that of the ‘Concept and Ideology: Issues and problems of Islamic banking”, (n.d.), there is no example that Islamic banks have achieved the goal of 100% reserve funds. This puts into question the actual financial stability using this system. Social banks have problems of their own when it comes to financial stability. Since each decision is made on a case-by-case basis which means that each bank must remain small and personal, the ability to garner market share sufficient to support a wider customer base is doubtful. Additionally, social banks are either over-specialized or niche organizations that are not powerful enough to make a dent in changing the way that economics are handled on a global scale. Benedikter, R (2011) Cooperative Banking is an offshoot of social banking that has taken root in Great Britain since the economic crisis of 2008. Cooperative Banking, a popular innovation of shared ownership, has issues that are similar to Conventional Banks, Social Banks and Islamic Banks when it comes to balancing its decision making that holds to the banks mission statements and visions with the need to be profitable enough to support its social efforts. Mainstream banks focus on maximizing profits. Social banking and Cooperative banking concentrate on the profit-people-planet premise. Benedikter, R (2011) Conscious Capitalism suggests restructuring financial institutions as well as all enterprise systems from the ground up using its own key four pillars to creating a new foundation. Schwabel, D. (January 15, 2013) In order for both Islamic Banking and Conventional Banking to work hand-in-hand and stop trying to convince the public that they have the only way to a stable economic environment, we need to set aside our pre-existing prejudices, ideologies, assumptions and expectationswhich in itself may be the greatest challenge of all. Islamic banking would need to find more neutral terms that did not stir up the western prejudices against Islam as a whole while Conventional banking would need to redefine what the expectations of banking is. There is evidence that the population of the world, especially in the U.S. and Europe, is ready to move away from the profiteering seen in traditional definitions of banking and that many people in Muslim countries are willing to consider banking as a contemporary financial system rather than a physical expression of Shariah law. What sounded like a possibility at the beginning of this paper now sounds like a fantasy that may never come to pass. Even with the social awareness of this generation, it would take many years to alter either world view that is firmly engrained in the soul of its followers. Still, I would like to hold out hope that we can take steps toward creating a global view of economics that would result in a more stable financial environment for the majority rather than the minority.

References

Hassan, Kabir and Lewis, Mervyn, (2007), Northampton, Ma, Handbook of Islamic Banking, Edward Elgar Publishing, William Pratt House. Khan, M. Fahim and Porzio, Mario (January 2010), Northampton, Ma, Islamic Banking and Finance in the European Union: A Challenge, Edward Elgar Publishing, William Pratt House. Benedikter, R., (2011), ‘European Answers to the Financial Crisis: Social Banking and Social Financing’, Spice Digest, Europe Center, Stanford EDU. Bennett, Michael S., Iqbal, Zamir (2013), ‘How Socially Responsible Investigating Can Help Bridge the Gap between Islamic and Conventional Financial Markets’, World Bank Treasury, Emerald Group Publishing. Islam, K.M. Anwarul (2014), ‘Examination of Profitability between Islamic Banks and Conventional Banks in Bangladesh: A Comparative Study’. Research in Business and Management, Vol 1, No 1. The Economist, (February 6, 2012), ‘Conventional Banks have closed their Islamic Windows’, Hanlon, Patrick, (September 23, 2012), ‘Conscious Capitalism: Can Empathy Change the World?’, Forbes. Islamic Finance in France, (November 12, 2009), ‘Sharia Calling – A Political Row About Muslim Law. Schwabel, Dan, (January 15, 2013), ‘John Mackey: Why Companies Should Embrace Conscious Capitalism’, Forbes. Thorpe, Devin, (May 18, 2013), ‘Why CSR? The Benefits of Corporate Social Responsibility Will Move You to Act’, Forbes. Concept and Ideology: Issues and Problems of Islamic Banking, (n.d.), web archive article. Dubai Islamic Bank, (n.d.), ‘What is Islamic Banking’. Islamic Banking and Conventional Banking Relevant Posts Finance Dissertation TopicsCorporate Finance and Governance Read the full article

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This Real Estate Dissertation Asks What Is The Impact Of HS2 On House Prices In Birmingham - New Sample Dissertations For University Students

Impact of HS2 on House Prices Dissertation – Development of a new transport infrastructure not give only convenience to accessibility. It also drives social and economic well- being. In this research paper, researcher analyzed how development of HS-2 new railway infrastructure in UK influences to the housing prices in Birmingham city. Because house prices in the city of Birmingham has been expanding quickly in last a long time specially after the 1st announcement of the HS2 project which was announced in October, 2010.

For this particular study researcher applied Pragmatic research philosophy. Since pragmatism is philosophy best adjusted with this think about of Affect HS2 has on Birmingham Real estate, it permits researcher to coordinated an assortment of research approaches such as both inductive and deductive approaches. For the support of the inductive approach, researcher has used thematic data analysis and, for requirement of deductive approach correlation analysis and hedonic regression analysis have been used.

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