Ethical Issues Of An Organization - 1595 Words

Definition - Ethical issues Situations in which, on moral grounds, persons ought both to do and not to do something. Such a definition implies that issues of conflict and choice are central to moral dilemmas. Definition - Legal issues To promulgate or send out. In a lawsuit, a disputed point of law or Question of Fact, set forth in the pleadings, that is alleged by one party and denied by the other. Definition - shared information The exchange of data between various organizations, people and technologies. Definition – organisation An organized group of people with a particular purpose, such as a business or government department. Definition - procedures and conventions A meeting or formal assembly, as of representatives or delegates, for discussion of and action on particular matters of common concern. Definition – privacy A state in which one is not observed or disturbed by other people. Definition – permission The action of officially allowing someone to do a particular thing; consent or authorization. Definition – information Facts provided or learned about something or someone. Definition – laws The system of rules which a particular country or community recognizes as regulating the actions of its members and which it may enforce by the imposition of penalties. Definition - intellectual property Intangible property that is the result of creativity, such as patents, copyrights, etc. Definition - social implications The effect of an activity on theShow MoreRelatedThe Ethical Issues Of Business Organizations2096 Words   |  9 PagesLeaders of business organizations should consider the fact that ethical issues are always a part of any organizational progress. Hence, to be able to understand the issue better, it is essential to know what ethics really pertain to. According Wesley Cragg, â€Å"ethics pertain to values and attitudes of people†. For this reason, the addressing of the ethical issues involves the ability of a leader to understand the values and attitudes of others towards certain situations (1997, 13). Ethics then areRead MoreLegal and Ethical Issues in Organizations579 Words   |  2 PagesLegal and ethical issues are closely interlinked, mainly because the legal framework of a society is usually based on its moral and ethical norms, in the sense in which it is built on the norms that the people in that society believe in. When it comes to an organization, there are several levels of interest. First, the overall legal framework of the country in which the organization is operating trumps all other legal or ethical norms. In many situations, companies that have foreign subsidiariesRead MoreEthical Issues in Hrm in Organizations4398 Words   |  18 PagesETHICS IN HUMAN RESOURCE MANAGEMENT QUESTION Identify any ethical issues most likely to take place in the function of HRM in an organization â€Æ' Introduction The term ‘organizational justice’ refers to the extent to which employees perceive workplace procedures, interactions and outcomes to be fair in nature. These perceptions can influence attitudes and behavior for good or ill, in turn having a positive or negative impact on employee performance and the organization’sRead MoreEthical Issues in Human Services Organizations2118 Words   |  9 PagesEthical Issues in Human Services Organizations Nutritional well-being plays an essential role in the overall health, independence, and quality of life of older persons as well as disabled persons. This nation has a responsibility to at risk populations such as the elderly. Today, there are close to 6 million seniors in the United States facing the threat of hunger. Some of these citizens were raised during the Great Depression, they went on to protect our independence in the Second World War andRead MoreEthical Issues Managers Face in Creating a Diverse Organization786 Words   |  4 PagesEthical Issues Managers Face in Creating a Diverse Organization By: Eduardo R. Zayas-Quià ±ones Some time not long ago we thought of America as a melting pot of cultures and ideologies. That view placed under the light of several generations of struggle for equality no longer holds true. Yes, we are here in the same pot but instead of melting, we have chosen to hold on to our roots, our cultures and ideologies. We wont let go of these so, we are just learning to get along together, and insteadRead MoreInternational Business Ethics And Ethical Issues Within International Organizations1113 Words   |  5 Pagesinternational business encourage firms and organisations to become socially responsible and ethical global citizens? What I am here to tell you today is that with the correct organisational procedures, internationally renowned businesses are able to become socially responsible and ethically recognised. However when international organisations have unseemly and immoral behavioural standards, generating ethical global citizens is out of the question. Today international business ethics have a numberRead MoreEthical And Legal Issues Related With Shared Information Within An Organization Essay1026 Words   |  5 Pages4A: Describe ethical and legal issues related to shared information within an organisation, and the related procedures and conventions for privacy and permission. Within an organisation, there are numerous procedures and conventions put into place that ensure the privacy of the user and their content. The ownership of information created by or made available to the user in an organisation is often a subject of controversy. An organisation has the undisputed right to manage and monitor informationRead MoreThe Responsibility Project Essay951 Words   |  4 Pages Ethical principles contribute and can be utilized to address the organizational issues. This paper will discuss the way ethical principles get used for addressing the issues. This paper includes the information of a short film which is retrieved from the Responsibility Project web site. The paper includes several discussions which are; why are the issues in film are important? What role do external social pressures have in influencing organizational ethics? How might these issues be relevantRead MoreIndividual Rights and the Business Organization1543 Words   |  6 PagesRunning Head: Individual Rights and the Business Organization Individual Rights and the Business Organization Introduction In todays highly uncertain business environment, businesses and individuals face a number of ethical issues which arise due to different internal and external environmental factors and impact the individuals within and outside the organizations. The ethical issues which negatively impact the privacy, morale, and societal values of individuals include fraudulent businessRead MoreThe Responsibility Project Essay940 Words   |  4 Pages Instructor The Responsibility Project Ethical principles are something that can address any organizations issues. How to use these ethical principles are what we will address in this article. From the website â€Å"The Responsibility Project†, we will see how ethical principles are important in any organization, and how they can shape and change them. From the website, we will be reviewing the film â€Å"Good Vibrations†. Why are the issues in the film important? Good Vibrations is an animated

Strategic Management Samples for Students †MyAssignmenthelp.com

Question: Discuss about the Strategic Management OR Sustainability . Answer: Strategic Management In the modern business environment, the organization has to deal with an array of factors that affects its ability to expand their activities in the market, reach more consumers and generate huge revenues. In response to such targets, themanagement takes various processes and actions aimed at facilitating and further positioning the business in a competitive environment. Such positioning would only be possible with the adoption of strategicmanagement strategies because the process is paramount in improving its preparedness to deal and address the unexpected competitive demands from the environment(Langley, Smallman, Tsoukas, Van de Ven, 2013). As such, the strategicmanagement must be an all-encompassing method of formulating, evaluating and implementing managerial decisions in a manner that permits the organization to achieve its objectives. For this to happen, themanagement must show concerns, involve many parties, train the participants and make well-organized plans. Woolworth Case Study Woolworths first opened its business many years ago in Sydney in 1924. The initial market was a bargain basement outlet but later evolved over time to include many business units spanning across the globe. By 2012, the enterprise has developed to become one of the largest supermarket chains both in New Zealand and Australia regarding market share and consumer base. Woolworths operates various brands that include Woolworths supermarket's outlets, Dick Smith Electronics, Dick Smith Powerhouse and others. The group generated large revenues from its different business and service portfolios, but recently the case has been the exact opposite. For example, from 2006-2012, the company posted huge profits with 3.3% average growth during the period (Walsh, 2014). However, Biddle explains that over the recent years, the benefit has begun to dwindle due to problems with suppliers and changing business environment. Besides, there has been intense competition from other brands and this has affected its market growth for the last two years. As a result the management has decided to lay off workers to adopt to the market forces and make profit. The chain has also been in the news for positive reason such as the use of technology to enable consumers manage their buying behaviors which is a blow to its competitors like amazon and Coles(Biddle, 2016). Strategic Management The terms Strategic management is defined as the process in which a firm formulate and implements strategic plans to achieve its objectives. The process is continuous and entirely determined by the evolving organizational goals, values, missions and visions. All kind of businesses be it small, or big engage in strategic management to master the industrys trends and other changes in globalization and technology(Vogel Gttel, 2013). There are various theories used in strategic management in the organization. Some of the concepts involved the term goal setting, strategy formulation and implementation, and policy monitoring. On the other hand, the models applied in strategic management are necessary for the development and implementation of a plan and also in satisfying its mission and vision in the market. The model reviewed has some significant similarities such as performing an analysis of the environmental, determining the direction, development of and controlling of the strategy(Vog el Gttel, 2013). The theory analyzed includes goal based planning, alignments and organic planning models. Goal-Based Planning Model One of the models used in strategic management Goal-based Planning also known as is an Issue-based model. The mode is utilized by organizations such as Woolworth because they are established. It is used when the management wants to delve deeper strategic management process (Sun, Vancouver, Weinhardt, 2014). When the management uses the theory, the first step is the SWOT analysis used in the assessment of internal and external forces present in the organization. Secondly, the theory explains that identification of the major problems and goals will be prioritized. Besides, the vision, mission, and values are reviewed and updated to align with the critical issues and goals formulated by the management. According to the model, then action plans and strategies to achieve the targets are used in the implementation of the goal(Grable Carr, 2014). The model has an influence on strategic management of Woolworth group. The management of the company has formulated and developed action plans, also known as SMART goals. This means the development of targets that are Specific, Measurable, Attainable, Results-oriented, and Time-bound(Beneke, Blampied, Cumming, Parkfelt, 2015). Above this, strategic plans which take long to be implemented such as more than one year comes up with strategic plans for a period ranging 3-5 years that are followed by updates and annual reviews of the larger project. For example, firms ensure there is regular monitoring, evaluation, surveillance and updating of the plan to make them effective and. Besides, these actions are drafted into an actual plan where the employees and other stakeholders can keep track on the company commitment to achieve them(Jie, Parton, Chan, 2015). Alignment Model Another type used in strategic management of Woolworth is alignment model. The model focus on ensuring there is an alignment of the organization's mission and resources for the smooth implementation of the mission. The model is very useful to firms managers who want to fine tune the set goals and evaluating why the company is unable to achieve these desired goals(Vogel Gttel, 2013). In the model, the management role is to examine and review the mission, resources, and goals and to be the needed support. Further, discussion to understand what is going well and the issues which need adjustment is paramount. Therefore in the plan, the planning process prioritizes the changes which require being made and the methods of addressing them(Handfield, Cousins, Lawson, Petersen, 2015). The model is very influential in the management processes because the firm has aligned its resources, and environment with the missions and set goals. For instance, in the process of strategic management, the mission and visions objectives are linked to the environment which means they are set in consideration of the environmental opportunities and threats. Besides, the strategy actions and plans take place through the firms structure, culture and leadership and then evaluation take place(Dos Santos, Svensson, Padin, 2013). Organic Planning Organic Planning model can be applied in the context of strategic management in the organization that has stakeholders which wield immense power in the management. The model follows a linear approach and moves from broad to specific. The process that is followed includes a continual focus the shared values, dialogue and communication that between and the stakeholders. These stakeholders are given an opportunity to contribute their ideas and share them with the larger group and are synonymous with the brainstorming(Handfield, Cousins, Lawson, Petersen, 2015). The model is very influential in the management style of Woolworth because it encompasses diverse stakeholders with varying amounts of power in the organization. Practically, the management and the board when arriving on something follows the storyboard technique and other similar technique known as the nominal group method where all the stakeholder involved has to play an active role in discussing issues and agreeing on what next. The model is relevant because it guards the tendency of few dominating the session while others are overlooked when discussing issues (Juan Ding, Jie, Parton, J. Matanda, 2014) Conclusion and Recommendations According to the model examined above, the process of strategic management in very essential for the organization success. Many managers and leaders ensure that the goals and objectives to be achieved are linked to the mission, vision and the organization internal and external environment. Further, they must be specific, measurable, and attainable and result oriented. Monitoring, evaluation, and update of the goals and objectives are done to ensure they respond to changes taking place. Essential to consider in strategic management is organization structure, resources, culture and the important stakeholders in formulation and implementation of strategies. The recommendations of the paper is therefore based on the strategy formation, formulation, implementation, and monitoring. In the formation level, the organization need to consider the ever-changing environment and include issues such as technology, competition, and globalization because they have a bearing on how the process takes place. Therefore, they must be adapted to the changing nature of the workplace and global technology as well as emerging markets. In the strategy formation, the information available must be well utilized and greatly considered when making strategic decisions such as how to address the challenges facing the organization. For instance, the changes in the environment mean employees need to be trained with competencies and skills relevant in the market. It should also be oriented toward ensuring the organization is profitable and maintaining a competitive advantage. In the stage of strategy implementation where the real policy is put into practice, the management needs to have all the necessary resources to achieve the strategic plan to life. These should be implemented through the formation of programs, budgets, and policies aimed at managing the finances, operational goals and human resources and. Essential to consider is the level of cooperation between senior workers and other personnel to make the process successful. Finally, the process of strategy monitoring should be used to measure the fundamental goals and use the methods which produce the accurate results to understand the level of success and failure. Therefore the tools used should reveal to management the areas where they need to update when to make it adapted to the changes. References Beneke, J., Blampied, S., Cumming, R., Parkfelt, J. (2015). Scrutinising the effectiveness of customer loyalty programmes: A study of two large supermarket chains in South Africa frican . Journal of Business Management, 9(5), 212-222. Biddle, I. (2016). The Wesfarmers/Woolworths duopoly war: The Bunnings vs. Masters battle. Busidate, 24(3), 3. Dos Santos, M. A., Svensson, G., Padin, C. (2013). Indicators of sustainable business practices: Woolworths in South Africa. Supply Chain Management. An International Journal, 18(1), 104-108. Grable, J. E., Carr, N. A. (2014). Risk tolerance and goal-based financial planning. Journal of Financial Service Professionals, 68(1), 12-14. Handfield, R. B., Cousins, P. D., Lawson, B., Petersen, K. J. (2015). How Can Supply Management Really Improve Performance? A Knowledge?Based Model of Alignment Capabilities. Journal of Supply Chain Management, 51(3), 3-17. Jie, F., Parton, K., Chan, C. (2015). Australian beef supply chain integration: case studies of the two largest Australian supermarkets. International Journal of Supply Chain and Operations Resilience, 1(2), 121-138. Juan Ding, M., Jie, F. A., Parton, K., J. Matanda, M. (2014). Relationships between quality of information sharing and supply chain food quality in the Australian beef processing industry. The International Journal of Logistics Management, 25(1), 85-108. Langley, A., Smallman, C., Tsoukas, H., Van de Ven, A. H. (2013). Process studies of change in organization and management: Unveiling temporality, activity, and flow. Academy of Management Journal, 56(1), 1-13. Sun, S., Vancouver, J. B., Weinhardt, J. M. (2014). Goal choices and planning: Distinct expectancy and value effects in two goal processes. Organizational Behavior and Human Decision Processes, 125(2), 220-233. Vogel, R., Gttel, W. H. (2013). The dynamic capability view in strategic management: A bibliometric review. International Journal of Management Reviews, 15(4), 426-446. Walsh, B. (2014). Chain store retailing in Ireland: a case study of FW Woolworth Co. Ltd, 1914-2008. Journal of Historical Research in Marketing, 6(1), 98-115.

Honeybees Essays - Beekeeping, Beeswax, Bee, Honey Bee, Worker Bee

Honeybees Honeybees as a Resource Honeybees are very useful to humans. As their name suggests, they make the sweet, delicious treat known as honey that we enjoy. They also make beeswax from which we make many useful items. But the most important thing bees do for us is to pollinate the plants. The honeybee visits flowers, which secrete a sweet liquid called nectar. This water-like nectar is sipped from the blossoms by the bee and carried to the beehive. The raw nectar goes into the cells in almost the same condition as it was when the bee sipped it from the flowers. It is inside the hive that house bees evaporate the nectar down to the thick consistency, which is what we know as commercial honey. We usually think of the main use of honey as a spread on bread, pancakes or biscuits. However, honey has a large use in cooking; such as pastries, canned foods, milk drinks, desserts, frostings, syrups, and salad dressings. Honey contains simple sugars and does not require digestion like regular sugar, so it is useful for quick energy pick up and even for diabetic people. Most honey is sold as extracted honey but it is also sold on the honeycomb which is the wax chambers the bees make in the hive in which to store the honey. The wax comes from a worker bee's belly when she is fourteen to twenty-one days old. The wax chambers are just big enough for a bee to crawl inside. Sometimes people like to eat honeycomb. It can be eaten on toast or as is; then the wax becomes like a chewing gum, but like chewing gum it should not be swallowed. In recent years a new process called the Dyce process has made it possible to make a very nice granulated honey called creamed honey, which is gaining in popularity. However, granulated honey is not used much commercially because it is still an almost unknown honey product. Beeswax is the second most important product produced by the honeybees. Beeswax, the earliest of waxes, has been used in the form of candles for lighting. This is today the second largest use of beeswax. The Roman Catholic Church used to require that pure beeswax candles be used in church but as the numbers of churches grew there wasn't enough beeswax available so that now the Catholic Church requires that candles are at least 51 percent beeswax. The reason the church requires beeswax candles is because the candles do not smoke. Probably the largest user of beeswax today is the cosmetic industry. Beeswax is used as the emulsifying agent in face creams, lipsticks, lotions and rouges. It is also used in shoe polish, sporting goods and military hardware. The beekeeper himself is the third largest user of beeswax, which he gives to the bees as the base of their new comb. There are 70 or more commercial uses of beeswax today. Each year in the United States some 200 million pounds of honey and four to six million pounds of beeswax are produced. Honeybees are not the only insect that pollinates plants, but they are the best. A lot of our food, such as corn, tomatoes, peas, squash, strawberries, apples, pears, and watermelon would not continue without this pollination. During the last three weeks of a worker bee's life, they fly out of the hives as a forager. The bees take pollen and nectar to the hive and deposit it into cells. During a foraging trip each individual bee will collect pollen from just one kind of plant. By doing this, each bee helps pollinate the blossoms. When the bee crawls around on the blossom, the pollen (containing male plant reproductive cells) clings to fine hairs located on the bee's legs. The pollen is carried from one blossom to another blossom of the same kind of plant, where it sticks to the female part of the flower. Without pollination plants would not produce fruit or seeds. Without seeds now new plants could grow. Pollen is carried in small pollen baskets on the outer sides of the bees legs. In order to fill the baskets with pollen, the bee uses her mouth parts and scrapes the pollen from the blossoms and hairs on her leg to secure it in the basket. The pollen is also known as "bee bread." This is because the bee eats the pollen. When bees find a good supply of food they use "sign language." They return to the hive and perform a dance

Colonial Rhode Island with Bibliography essays

Colonial Rhode Island with Bibliography essays Colonial Rhode Islands communities, a group of people in an area with a common goal, beliefs were surprisingly common to the beliefs of my culture of Omaha. Including are religious beliefs And the government beliefs. The cultural diffusion, bringing one culture into another, between the Natives and Colonists was amazing. You cant be ethnocentric, viewing anothers culture by ones standards, when viewing the beliefs. The Baptist church formed in Providence, Rhode Island, in 1639. Quakers merged with the Antinomians, the natives, and established a meeting house in 1657. This soon became a powerful force in the colony's ethical life. A Jewish Church, a religious group, was established in Newport in 1658. Puritans, very religious people, were also there setting up places for them to go. Rhode Islands religious belief was very much like Omahas today, which is that anyone can have any religion they want without being punished. The Puritans believed in hard work, and they worked every day and never took it easy, these people made Rhode Island very productive. The Lower class, a person with a low social status, was the hardest working. Social loafing, when one slacks off in a group, was not accepted at all, this is somewhat the same in Omaha. They were most productive in the industries of trading, shipping, lumbering, and fishing. Omaha is most productive in manufacturing, financial, and consumer goods. Fishing was one of the biggest industries in Rhode Island, one out of every seven men took place in fishing. In Omaha fishing is not a big source of income because there is not a big water body by Omaha. Rhode Island did use money, Rhode Island was the first to use and introduce the five dollar bill that is much like the one used in Omaha today. Rhode Island's government was very much like ours today. For an amount of years it shared two capitols, Newport and Providence. There was a chief state offic...

The Origins of Islamic Culture Essay Example | Topics and Well Written Essays - 3750 words

The Origins of Islamic Culture - Essay Example The current study revolves around one of the groups of people who pose their specific significance with respect to their religious affiliation. The human perceptions, understandings and acts are affected greatly by religious influence in great amounts. This eventually affects every level of the human being’s lives whether they may personal, financial or corporate in nature. Thus organizational decision making and the performance of individuals all come under the influence of the religion to which they belong. Islam is one of the most widely followed religions in the history of mankind. Being the second largest religion of the human society it has millions of followers. Thus the Islamic culture is quite prevalent in the world. Islam is the religion that believes upon the sovereignty of one God. The name that God is termed with in the religion Islam is Allah. The belief that the religion establishes is that Islam is the religion of Allah for the Entire Humanity. It is the religi on that preaches kindness and equality with mercy and tolerance. Evidence to this is the following teachings of Islam that are quoted in the Holy Book of Allah i.e. the Holy Quran as follows: â€Å"Allah burdens not a person beyond his scope. He gets reward for that (good) which he has earned, and he is punished for that (evil) which he has earned† . The religion preaches utmost simplicity and piety. It does not want any individual to bear any load that he may not think of himself to be capable of. Allah- The Lord, with respect to the teaching of Islam, has spared His followers of any hardships or difficulties. At another place the Almighty Lord says (interpretation of the meaning) : â€Å"He has chosen you (to convey His Message of Islamic Monotheism to mankind by inviting them to His religion of Islam), and has not laid upon you in religion any hardship†Ã‚   [al-Hajj 22:78 - Quran]   The above lines are directly addressed to the Prophet Muhammad (Peace be Upon Him) and then via him to the rest of the mankind. The Quran, the boom of Allah that contains all the codes of conduct and commandments is the final word for Mankind from the Almighty Lord. The Divine books that precede this last and final word are the Psalms, the Bible, and the Testament. THE HISTORY OF ISLAM Islam is a global religion. The birth of the foremost and final Prophet of Islam Muhammad (Peace and Blessings be Upon Him) in the year 570 A.D led to the beginning of an Era that was eventually to lead to the formal birth of the religion of Islam. He was born to an Arabian family named the family of â€Å"Quraishâ⠂¬  which was the then ruling tribe of the Holy city of Mecca. Mecca was the center of trade of the entire Arab and was later trademarked as the Holy Mecca that housed the house of the Lord, Allah swt. After the era of the Prophet Muhammad (p.b.u.h.) Islam spread out from Arab into various other regions. Fellows from the most trusted companions of the Prophet were appointed as caliphs. The kingdom of Islam was henceforth termed as Caliphate that revolved around nothing but the religion itself. Caliphs were the rulers of

Prevalence and impact of alcohol misuse in the American, British and Dissertation

Prevalence and impact of alcohol misuse in the American, British and Canadian Armed Forces - Dissertation Example I am really thankful to them. In addition, I would also like to thank my parents and friends for their help in the execution and finishing of this project within the limited time. I am making this project not only for academic purposes but also to increase my knowledge on this public health issues. DECLARATION: I DECLARE THAT THIS DISSERTATION IS MY OWN WORK AND IT HAS NEVER BEEN PRESENTED AT ANY OTHER UNIVERSITY OR INSTITUTION OF HIGHER LEARNING. List of Tables Table 1-Nationality of participants Table 2-Region of service Table 3-Element Table 4-Work Status Table 5-Gender Table 6-Nature of deployment Table 7-Causes and Effects of Alcohol abuse in armed forces Table 8-Summary of participant remarks Abstract Alcohol misuse has been part of military life since historical times. Study findings and literature reviews attest to the high prevalence of this problem not only among active-duty soldiers but also among veterans returning home. Studies also show several disparities in the preval ence and effects of alcohol abuse among military officers. First, younger officers of age 18-25 are found to suffer more alcohol abuse and related disorders than their older colleagues. Second, male soldiers are more likely to indulge in binge drinking compared to their female colleagues. Third, soldiers on active combat duties report more cases of alcohol abuse that their non-combat experienced colleagues do. This latter disparity could be explained by the traumatic experiences and events encountered in wars. For the US, UK, and Canada, veterans of the Iraqi and Afghani wars are outstanding examples of samples used to establish the extent to which traumatic combat and non-combat experiences and events promote alcohol misuse in armed forces. Although these countries’ defense departments have initiated various interventions and designed policy statements to curb alcohol abuse in military camps and among veterans, a lot still need to be done since the responses to this problem have been rather lackluster. In fact, recommendations by concerned agencies and individual researchers have largely been ignored by authorities. The negative effects of alcohol abuse on soldiers, their friends, families, and the profession in clued mental health disorders, violence, marriage breakages, unproductively, cardiovascular diseases, and death. These effects highlight the efficiency and the urgency with which alcohol misuse should be addressed. As the authorities seek answers to this problem, soldiers are also encouraged to seek alternative treatments to the disorders that military life expose them to rather than resorting to binge drinking for immediate and short-term solutions but never really solve the underlying issues. Introduction In the current society, many people are reported to keep their consumption of alcohol within the confines of the recommended levels. These drinkers have rather low risks of alcohol-related metal, physical, physiological, and

Marketing Issues Facing the HSBC Bank in the UK

Marketing Issues Facing the HSBC Bank in the UK Key marketing issues facing HSBC Bank in the United Kingdom and globally: How it can be improved for entering in to 2011 Abstract Todays global banking environment is highly volatile, but this does not hinder competition from being intense. Consequently, organisations such as HSBC Bank plc, the worlds local bank, need to align their marketing strategies to improve on their brand value and positioning. To enter into the year 2011, they need to address both internal and external environment(s) which inevitably affect their competitive advantage, positioning and performance. In the following, the researcher aims to explore these avenues with the view to propose an extended study on new strategies to improve upon HSBCs current standing. Table of contents Chapter 1: Introduction Chapter 2: Methodology Chapter 3: Literature Review Chapter 4: Evidence Chapter 5: Conclusion and Recommendations References Appendices Introduction In the last few years, the banking industry has undergone tremendous change in the face of global transformation. As a result, executives are finding it difficult to meet competitive challenges as the pressure to become global intensifies. HSBC Bank plc, headquartered in United Kingdom, is a global business which faces the same challenge and is being investigated in the following dissertation. The aim is to survey the key marketing issues that challenge the bank, in the UK and globally so that the researcher could further its study in developing solutions for the same. Some of the objectives that the researcher aims to achieve in this dissertation proposal are as follows: Objectives 1. To explore key external and internal environments to address major issues that plague HSBC to function successfully as a global bank. 2. To identify the marketing mix that should be adopted to be integrated in the banks marketing and competitive strategies. 3. To investigate organisational functions like MIS (Management Information System) and CRM (Customer Relationship Management) to align them with the market structure. 4. To evaluate the brand value at HSBC, and perhaps identify new strategies for improving its global positioning. Background Today, change catalysts are being integrated by major consolidated organisations to adapt and become flexible to the changing needs of consumers. The banking industry, likewise, has been following the same trend of consolidation through mergers and acquisitions (MA), despite the fact that these MAs are creating even more complex organisations. This can be gauged from HSBCs organisational spread. HSBC has over 100 million customer base, spread across the globe through its Customer and Global businesses. With 9,500 offices and 335,000 staff in 85 countries and territories, it is considered to be one of the worlds top financial brands by The Banker Magazine (HSBC Official Web site 2008). While it is regulated by the Financial Services Authority in the UK, the global nature of its operation subjects it to be regulated by 510 central banks and authorities around the world as well (HSBC Official Web site 2008). To ensure that HSBC meets global challenges, the bank has been constantly evolv ing its strategy. For the past decade, it has focussed on being the worlds local bank with a wide network spread to mostly international emerging markets to develop unique cosmopolitan customer base to strengthen its financial standing. The four key business areas private banking, commercial banking, personal financial services and global banking markets help HSBC to align its presence with global trends such as fast growing emerging markets, world trade, and longevity in business (See Appendix 1). In line with this focus, is the strategy to leverage brand and network to increase revenues and maximise efficiency (HSBC Official Web site 2008). This conservative positioning strategy had been adopted for the past decade and has paid off in terms of higher earnings, and improved performance (BBC 2001). However, recently there has been a fall in profit earning (UK Annual Report 2007)(See Appendix 2), which has been translated to low performance. Some of the factors that have afflicted the bank include inflation in developed markets; slow down in emerging economies; and the ongoing credit crunch, especially in the UK and neighbouring Europe (HSBC Annual Results 2007; Toxic Shock 2008). The growing importance of globalisation only emphasises on the need for integrating marketing strategies within competitive strategies to leverage future performance. According to a Deloitte report (2007), banks like HSBC, with a global focus, need to understand external and internal factors that affect them, in order to devise comprehensive competitive strategy. While experts (Dietz, Reibestein, and Walter 2008) predict growth in global banking revenues estimated at 7 to 8 percent from 2006 to 2016, how to harness this forecast is dependent on the individual firms strategy. For this purpose, HSBC need to revise its strategic orientation. The purpose of research is to gain new knowledge through logical and systematic methods. According to Smith (1981 qt. Gliner and Morgan 2000), research is a broad discipline which must be carefully examined before adopting methods for evaluation. Whether the researcher chooses the naturalistic, experimental, survey or historical methods, the choice should be consistent with the inquiry defined. Accordingly, research approaches in the social science discipline can be divided into the positivist or quantitative, and constructivist or qualitative approach (Mangan, Lalwani and Gardner 2004). Depending on the quantitative or qualitative paradigm, a researcher must choose the approach of research. A quantitative paradigm is associated with scientific methods in acquiring research results and identifies causal relationships (Phillips 1992; Lincoln and Guba 1985 qt. Gliner and Morgan 2000). On the other hand, the qualitative approach is a constructivist approach that studies humans and physi cal objects with the meanings inherent in their social roles and symbolism. Considering the qualitative nature of the topic, the researcher proposes to adopt a constructivist approach which would be more appropriate in exploring the issues that affect HSBC. This is a logical proposition as it would allow the researcher to predict the causes and market behaviour based on theoretical frameworks studied through comprehensive literature review, a gist of which shall be explored in the next section. Furthermore, the researcher proposes this choice of research approach based on the premise that social science researches often seek to predict and control (Bryman 1995). Research questions raised are often open-ended and encompass extensive avenues before decisions can be made. Therefore, a qualitative method shall be suitable for the study of key issues challenging HSBC in the future. To take a brief overview of banking, the researcher has carried out a brief literature review to study the issues that surround the organisation. In the following section, the researcher shall explore the current market environment, as well as attempt to understand it through theoretical frameworks. Banking Industry As the worlds banking industry globalises and consolidates, cross border investment barriers have fallen to give way to new and volatile markets. To serve evolving markets, banks have been observed to develop new competitive strategies that capitalise on operations, resources and functionality, and serve new types of customers. The challenge for banks today is the geopolitical risks and structural market challenges which they need to adapt to, for addressing international compliance of standards, demographic shifts, and developing relationships with customers. The diversified nature of the banking environment makes it difficult for global organisations, like HSBC, to focus. A global bank can be defined as having the widest reach in providing services to affiliates, while a local bank has narrower reach in provision of services to institutions in the country. Some of the challenges that affect these organizations are explored below: 1) External Environment The basic premise for gaining competitive advantage in a global environment according to experts like Porter (1990) and Weihrich (1982), is through formulation of strategies that reflect the conceptual framework of the TOWS Matrix (See Appendix 3). The TOWS (Threats, Opportunities, Weaknesses and Strengths) Matrix is a systematic analysis model which identifies factors that surround the industry, and, thereafter, help identify solutions by maximising opportunities and strengths. By identifying the competitive advantage against competitors, the industry or firm can maximise the attributes it posses at the international level. These competitive advantages can be factor conditions such as skilled labour or infrastructure; demand conditions such as demand of the product or service; related and supporting industries; and firm strategy, structure and rivalry (Porter 1990). However, critics are of the view that Porters formula does not provide the key to success (O’Shaughnessy 1996) as it does not address operational and environmental issues like culture, competitive advantage in emerging markets; political and national history; or role of government. In todays global banking environment, these issues play critical roles (Jones 2005). These are evident from the Deloitte report (2007) on key issues challenging the banking industry, which include off-shoring; local insights for global branching; cost-reduction; emergence of hedge funds; and complex anti-money laundering regulations (Deloitte 2007). Not only is the global business environment of today strived with uncertainty due to emerging markets participation (Fahy 1993; Bansal and Penza 2000), but also the technological, political and regulatory environments have heightened competition. In the past decade, HSBC has focussed its competitive strategy on Europe after the slow down in Asia-Pacific region. Europe is an ideal setting for international integration based on a single market program (Berger, Smith, and Judge 2003; HSBC 2008). There are, however, issues that hinder development and competition including loyalty to local banks, regulatory restrictions, demand for global banking services, and technological advancement of banks. As a result, HSBC needs to rethink its current strategy. 2) Internal Environment As a result of the above factors, the internal environment of global banks has to be revolutionised. At the forefront is the adage the customer is king. Global banks are changing their strategies to alter banking environment congruent to customers needs, rights and choices. Services and products are tailored to the living conditions and customer patterns of banking use. These conditions set off alternative marketing strategies that emphasise on individuality and relationship building. Investment in technology, skills and branch networks, for example, has helped traditional banks to grow and profit from new sources of income (Jayawardhena and Foley 2000). In the UK, especially, the scale of investment in knowledge management and technology has helped transform the banking industry to succinctly harness potential businesses and create advantage for organisations. Learning organisations, however, is still a relatively new concept for many to understand and appreciate its implications (H arris 2002). Besides the above, global banks are also undergoing structural changes. As more and more banks become global, the traditional role of retail banking has to be revisited. (Bansal and Penza 2000).Issues that affect HSBC like credit and market risks, competence and expertise have come to the forefront, as banks diversify their businesses. For these reasons HSBC needs to be prepared for change management in its internal environment. 3) The Marketing Mix Given the diversified nature of the global banking industry, Jagersmas report (2006) suggests that banks need to rethink marketing strategies to meet the challenges in the future by improving customer focus, innovating products, pricing products competitively and organising product information for its strategic positioning. The challenge that awaits organisations is to rethink strategic objectives that would align with the new environment. One approach is to develop a visual identity and develop a communication network to establish relationships with customers. The communication strategy would be the life line for the organisations strategy in adapting or changing its market context or other environmental alterations, according to Melewar, Bassett, and Simoes (2006). Similarly, Gummesson (2002) is of the view that relationship marketing is the new approach to marketing that focuses on customer, suppliers and organisations in a complex network environment or society. It is only throug h these new communication frameworks that the banking sector can address the core and brand values it has to develop for successful marketing mix. (See Appendix 4) HSBC needs to re-evaluate its marketing mix in order to generate newer ones. 4) Market Segmentation and Targeting Indeed, the nature of the marketing mix is no longer simply the 4 Ps of Price, Product, Position and Promotion but involves complex analysis of the target market and its segments. In fact, Papasolomou and Vrontis (2006) are of the view that todays banking organisations have different sets of customers and expectations. Customers are no longer limited to the walk-in type, but extend to internal customers such as employees, stakeholders and shareholders; service delivery is not limited to providing service, but extends to standards and expectations; development involves training and development in motivation, and inspiration; and employee incentives. To be successful, organisations must adopt alternative strategies. Market segmentation in the banking industry has changed from niche segments to accumulated customer base of corporate, private or commercial customers, although the principles for targeting them remain the same customer relationship building; ease of access; delivery of se rvice through diverse workforce; and collaborative banking strategies. As a result, banks like HSBC would need to improve upon customer focus, introduce new ideas to customers and drive aggressive campaigns (Wells Fargo and First Direct 2007) using a strong communication network (Berner and Kiley 2005) to build brand image. 5) MIS and CRM What differentiates and establishes brands depends on the power of the brand to communicate its value to the market. According to Sinek (2008), successful communication is dependent on the banks ability to offer different products and services reflective of the customers needs. Hence, branding alone would not differentiate banks, but the humanness of the banks philosophy would. Thus, Umpqua Bank and FirstDirects popularity with customers is due to their understanding of the need for convenient banking, need for alternative products and services, and their understanding of the ever-changing world of banking. By harnessing the online banking technology, direct banking has become possible to their customers. The attractiveness of these banks to their customers is inherent in the shift away from traditional transaction-based to customer based banking (Branching out 2007). Furthermore, banks have also capitalised on technological networks to expand globally to bring customers closer to their banks by defying geographical dispersion (Lefton 1997; Branching out 2007). However, in the process, issues like outsourcing labour to foreign regions, which are alien to the customers, and low quality service delivery compromise the overall expectations. Banks, especially, rely on outsourcing companies for their customer service which constitutes a major part of their service/product delivery (Gottfredson and Phillips 2005). This reliance on external organisations for the banks success is volatile and, at times, detrimental to its relationship with customers. Whether HSBC should rely on these systems or not shall determine its performance in the future. 6) Brand Positioning The objective of competitive advantage is dependent on positioning of the product. A firms communication strategy and its effectiveness depend on the positioning strategies. In marketing strategies for service-oriented brands, positioning is even more critical as it modifies the intangible perceptions of the service in relation to the competition (Blankson and Kalafatis 2007). For these reasons, strategic implications of brand positioning are critical for the organisations competitive strategy. Service positioning differs from tangible product positioning as its characteristics are different from physical goods. Customers differentiate the service from goods through communication, standard of service delivery, and the quality of the benefits reaped. Thus, marketing communication plays a vital role in establishing the marketing positioning of brands. Consequently, Papasolomou and Vrantis (2006) emphasise on the importance of internal marketing throughout branch network to strengthen r elationship marketing and the brand. In banking, this could be achieved by launching internal marketing campaigns to sustain the brand through employees and their experiences such as brand proposition, overcoming internal barriers, continual improvement and expansion. These HSBC needs to explore in to incorporate into its future strategies. From the above brief literature review, the researcher is of the view that HSBC, as a global bank, faces tremendous challenges in the near future to improve upon its marketing strategy. The above literature also suggests that, while the current marketing strategy has been successful in launching the HSBC in the international market, the bank needs to revise and develop its marketing strategies which would sustain HSBC in global environment. Issues that plague the worlds global banking industry need to be evaluated in the future study to understand the extent and breadth to which HSBC has complied with, before competitive strategies can be evaluated. The brief literature review also indicates that todays marketing strategies are different from traditional methods adopted, especially for a service-oriented organisation. Consequently, marketing strategies for HSBC needs to be re-valuated to gauge its future performance, and perhaps devise new ones to address current and future issues. Issues like MIS, CRM, brand positioning and marketing mix shall be revisited in this extended dissertation in order to tackle the issues that plague its internal and external environment. From the above evidence, the researcher proposes an extended study in the form of a dissertation to review HSBC’s performance and how it can improve upon its current marketing strategy in order to develop an integrative competitive strategy for the future. Considering the fast-paced and highly volatile banking environment of the UK and globally, HSBC needs to improve its performance in order to sustain competition. With the extended study, the researcher hopes to achieve the following objectives: a. A detailed investigation of the external and internal environment of HSBC in order to identify its strengths, weaknesses, opportunities and threats. b. Identify the marketing mix that it should adopt and integrate within its organizational strategies to enter into 2011. c. To study the current organisational function such as MIS and CRM to the advantage of HSBC and integrate into its future marketing strategies. d. Improve on its current brand value and global positioning. 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