Why Bangladesh studies should be taught to students of BBA in Bangladesh

Why Bangladesh Studies should be taught for the students of BBA It is important to learn the whereabouts of a country if someone wants to do business in a particular region or a country. As a student of BBA in Bangladesh, ‘Bangladesh studies’ is as important as any other courses in the whole curriculum. If one wants to start business in a particular area (say Bangladesh), one must acquire complete knowledge about:Geography Historical backgrounds Culture Manners & customs Religion and caste Political conditions and attitudes of the political parties Transport & telecommunication Economic infrastructure Government policies & facilities Banking & investments Local business & business communities Natural calamities Insurance & securities Management & Labour cost Electricity & powerThese prospects are described in detailed as followings:Studying geography of Bangladesh, a student will acquire knowledge about the resources, landmass, transport, economic trend of Bangladesh. Th is helps to find a suitable place for establishing business/industrial complex. It is necessary to know the history of Bangladesh as there exists a strong connection between people of the country and their mentality and customs. Now comes the culture, manners & customs. Knowing the culture of Bangladesh will help the student to guess whether the people (consumers) will appreciate the promoted product/service or not. Studying manners and customs are important as well. These will help to acquire knowledge about the tendency and likings of the consumers. It is also important to learn about religion and caste of people of Bangladesh as will help to acquire knowledge about social ceremonies, obligations and harmony of the consumers. Political  conditions of Bangladesh always affect business and economy.The student must be well aware of political stability and attitude of the politicians towards business and economic sectors. Transport & Telecommunication is one of most important factor in entrepreneurship. It is important to know about the transport and telecoms of Bangladesh in order to save time and cost, get logistics, international clientele and also for marketing and advertising. Also note that well established infrastructure ensures stability in business. So, proper knowledge about the infrastructure of Bangladesh is a must. A student will be well aware of the business laws, policies identified by the government of Bangladesh. It is necessary to know the whereabouts of banking sectors for financial support, deposits and transactions. There are always possibilities of competitor companies with similar products/services. So learning about the local business of Bangladesh is necessary in order to promote a new product/service. Bangladesh is a disaster prone region.Flood, earthquake and cyclones are likely to occur almost every year and in order to face the likely disaster and hazards a student need to know how government and other organizations deal with it. A nother important factor related to business is insurance and securities. A BBA student must acquire enough knowledge about insurance sectors of Bangladesh to do a better secured business. It needs a good management and resourceful labour to run a company/industry. Bangladesh studies will help a student where to find the finest executives and cheap and resourceful labour. In case of an industry, accessibility of Electricity and Power is also another important factor. With proper knowledge about the geology of the country a student can identify where to establish an industrial complex.So, it is quite clear that Studying about Bangladesh for BBA students is necessary. Proper knowledge in this field makes a student of BBA a better entrepreneur in the future. Why Bangladesh studies should be taught to students of BBA in Bangladesh Why Bangladesh Studies should be taught for the students of BBA It is important to learn the whereabouts of a country if someone wants to do business in a particular region or a country. As a student of BBA in Bangladesh, ‘Bangladesh studies’ is as important as any other courses in the whole curriculum. If one wants to start business in a particular area (say Bangladesh), one must acquire complete knowledge about GeographyHistorical backgrounds Culture Manners & customs Religion and caste Political conditions and attitudes of the political parties Transport & telecommunication Economic infrastructure Government policies & facilities Banking & investments Local business & business communities Natural calamities Insurance & securities Management & Labour cost Electricity & powerThese prospects are described in detailed as followings:Studying geography of Bangladesh, a student will acquire knowledge about the resources, landmass, transport, economic trend of Bangladesh. Thi s helps to find a suitable place for establishing business/industrial complex. It is necessary to know the history of Bangladesh as there exists a strong connection between people of the country and their mentality and customs.Now comes the culture, manners & customs. Knowing the culture of Bangladesh will help the student to guess whether the people (consumers) will appreciate the promoted product/service or not. Studying manners and customs are important as well. These will help to acquire knowledge about the tendency and likings of the consumers. It is also important to learn about religion and caste of people of Bangladesh as will help to acquire knowledge about social ceremonies, obligations and harmony of the consumers.Political  conditions of Bangladesh always affect business and economy. The student must be well aware of political stability and attitude of the politicians towards business and economic sectors. Transport & Telecommunication is one of most important factor i n entrepreneurship. It is important to know about the transport and telecoms of Bangladesh in order to save time and cost, get logistics, international clientele and also for marketing and advertising. Also note that well established infrastructure ensures stability in business. So, proper knowledge about the infrastructure of Bangladesh is a must.A student will be well aware of the business laws, policies identified by the government of Bangladesh. It is necessary to know the whereabouts of banking sectors for financial support, deposits and transactions. There are always possibilities of competitor companies with similar products/services. So learning about the local business of Bangladesh is necessary in order to promote a new product/service. Bangladesh is a disaster prone region. Flood, earthquake and cyclones are likely to occur almost every year and in order to face the likely disaster and hazards a student need to know how government and other organizations deal with it. Ano ther important factor related to business is insurance and securities.A BBA student must acquire enough knowledge about insurance sectors of Bangladesh to do a better secured business. It needs a good management and resourceful labour to run a company/industry. Bangladesh studies will help a student where to find the finest executives and cheap and resourceful labour. In case of an industry, accessibility of Electricity and Power is also another important factor. With proper knowledge about the geology of the country a student can identify where to establish an industrial complex.So, it is quite clear that Studying about Bangladesh for BBA students is necessary. Proper knowledge in this field makes a student of BBA a better entrepreneur in the future.

Comparing Henry David Thoreau and Martin Luther King on Unjust Laws Essay

In today’s society, it is often unclear where to draw the line between good morals and effective government. It is for this reason that many times, laws that are enacted for the â€Å"good of the people† can be in direct conflict with a person’s conscience. Due to the various struggles that the United States has faced in building a government, this topic has been a popular discussion throughout American literature. Although they did not live during the same time, American writers Henry David Thoreau and Martin Luther King, Jr. ach wrote about how a person should not follow laws that they believe to be immoral. Thoreau’s main concern pertained to the legal existence of slaves and slave-owners, and a century later, King spoke out against legal segregation in the South. In his â€Å"Letter from Birmingham Jail,† Martin Luther King, Jr. shares the same attitude with Henry David Thoreau’s work, â€Å"Civil Disobedience† concerning just and unjust laws; however, they each had different means of executing their beliefs. Both men agree that if a law is unjust, it is one’s duty to break that law, and do instead what they believe to be right. Thoreau considers that when unjust laws exist, a person has three choices of action: obey them, obey them while working to change them, or transgress them at once. He proposes, â€Å"It is not a man’s duty†¦to devote himself to the eradication of†¦even the most enormous wrong; †¦but it is his duty, at least, to wash his hands of it, and†¦not to give it practically his support. † (Thoreau 4). Thoreau also ponders whether it is better to decide what is right and wrong by one’s own conscience. He declares, â€Å"It is not desirable to cultivate a respect for the law, so much as for the right. The only obligation which I have a right to assume, is to do at any time what I think right. † (Thoreau 1). King, who was a devout clergyman, places one’s moral obligations under the eyes of God. He defines a just law as â€Å"†¦a man-made code that squares with the†¦law of God. † (King 177). King and Thoreau believe that the act of going against the law should be done in a passive manner. King explains, â€Å"Nonviolent direct action seeks to create such a crisis and foster such a tension that a community which has constantly refused to negotiate is forced to confront the issue. † (175). These writers also coincide that once someone has broken a law, he or she must be willing to accept the consequences, including the possible penalty of imprisonment. In fact, both men spent time in prison for their acts of civil disobedience. Thoreau was sent to jail after six years of refusing to pay his taxes, due to his opposition to both the Mexican-American War and slavery in America. King was sent to jail for leading several peaceful protests, including a boycott. However, King was imprisoned for much longer than Thoreau, who only spent one day in prison, but was unwillingly bailed out by his aunt. In fact, it was from jail that King wrote his letter, in an effort to defend his actions in Birmingham, which he believed to be completely necessary and justifiable actions of protest. Both Thoreau and King felt that by going to prison, and dealing with the consequences of their actions, they were solidifying and therefore strengthening their protests. Thoreau and King were also of the same mind that a law must be respected regardless of whether it is just or unjust. King fears that anarchy will result if laws are not respected; Thoreau describes that rebellion will be the consequence if laws are not given respect. King declares, â€Å"†¦An individual who breaks a law that conscience tells him is unjust, and willingly accepts the penalty by staying in jail in order to arouse the conscience of the community over its injustice, is in reality expressing the very highest respect for the law. † (King 179). King states his position as one that disagrees with a law, and therefore goes against it in an effort to change it with respect to the government. Both writers agree that getting rid of the government is not the goal, but rather to change its ways. Thoreau articulates, â€Å"†¦to speak practically and as a citizen†¦I ask for, not at once no government, but at once a better government. Let every man make known what kind of government would command his respect, and that will be one step toward obtaining it. † (Thoreau 1). Exercising passive resistance is the basis of the title of Thoreau’s work, and King presents several examples of civil disobedience in his letter, such as the Boston Tea Party. King himself not only exercises passive resistance, but he provides the procedure to be followed for any nonviolent campaign. With the exception of King’s added religious beliefs, Henry David Thoreau and Martin Luther King, Jr. shared the same ideas concerning civil disobedience and the ways in which one should deal with just and unjust laws, although they demonstrated their viewpoints in different ways. Both of these writers believed that any law that was in conflict with a person’s conscience should be respected, but still challenged in a passive manner. To prove this belief, both Thoreau and King practiced it themselves.

An Analysis Of Roddy Doyles Wr

An Analysis Of Roddy Doyles Wr Essay An Analysis of Roddy Doyles Writing StyleRoddy Doyle is an Irish novelist from Dublin, Ireland, who has written several award winning anovels. Through the use of a variety of literary techniques, Doyle has been able to delve into the thoughts and minds of his characters, so that the reader can easily empathize with them. Specifically, through the use of vernacular language, detailed imagery, and stream of consciousness in two of his novels, The Woman Who Walked Into Doors and Paddy Clarke Ha Ha Ha, Roddy Doyle is able to successfully depict what occurs in the minds of both abused women, and adolescent boys, respectively. In The Woman Who Walked Into Doors, Roddy Doyle tells the story of a recovering alcoholic who has been in an abusive marriage. This woman, Paula Spencer, struggles throughout the novel to gain control of the confusion her life has become. Through his use of the vernacular, detailed imagery, and stream of consciousness, Doyle is able to show the effect that abuse has on its victims. Ever since she was a child, Paula Spencer was treated with disrespect. She attended a grade school which classified her as an idiot. As Paula described it, All the classes are named after Irish musicians. We were just 1.6. We got the worst room the worst teachers, the dopesIt was a fright, finding out that I was stupid (Doyle Doors 28). This use of vernacular language is seen throughout this novel. Doyles technique of writing in the vernacular is very effective in getting his point across, plain and simple. In this case, Doyle is able to effectively show the psychological abuse Paula suffered as a child and what effect it had on her. This is most likely where Paulas disrespect for herself stemmed from, and most likely what lead to her tolerance of the physical abuse yet to come. At a young age Paula married a man named Charlo Spencer. It was quite apparent from the beginning that Charlo was not the right man for Paula. However, she married him anyway, and over their seventeen years o f marriage Paula Spencer was severely beaten by her husband. The entire novel is about how Paula tries desperately to sort through her confusion. Since Doyle tells her story in the vernacular it is very easy for the reader to relate. Doyles language and first person narrative perfectly catch Paulas erratic thoughts, as she tries to sort out the tangled strands of her memory, and tries to recover those which are lost.(Cape 1)Paulas use of vulgar words throughout the novel is helps express the anger, pain and confusion she is feeling. Doyle does not try to clean up the language. His use of the vernacular in Paulas thoughts and speech conveys the anger and pain that an abuse victim feels. For instance:They were all the same; they didnt want to know. Theyd never ask. Heres a prescription; now fuck off. The young ones were the worst, the young ones in CasualtyI should have boxed her ears. A kid in a white coat, playing. Shouting at the nurses. A fuckin little child with no manners(Doyle Doors 190)Here Paula is describing the doctors who she sees every time she needs medical attention after she has been beaten by Charlo. It is apparent through her choice of words that she is angry and also that she wanted help, but didnt quite know how to get it. Her frustration with her situation is evident in her choice of words. Not only does Doyle do an excellent job in showing the abuse through his use of the vernacular, but he is also able to vividly describe the abuse to the reader through detailed imagery, conveyed through the thoughts of Paula herself. READ: A Lesson before Dying EssayThroughout the novel, Paula Spencer vividly describes the episodes when Charlo beats her. The images her descriptions give the reader make it very clear how painful and frustrating it is for abuse victims. For example:He pushed me back into the corner. I felt hair coming away; skin fighting it. And a sharper pain when his shoe bit into my arm, like the cut of a knife. He grunted. He leaned against the wall over me. I

Benefits of breast feeding and natural birthing techniques Research Paper

Benefits of breast feeding and natural birthing techniques - Research Paper Example On the other hand, nutrients in mother’s milk also help to prevent the spread of childhood infectious and noninfectious diseases. This means that the benefits of breastfeeding are limitless, and it is a momentous act a mother does to determine the present and future health of a child (Department of Health and Human Service Office on Womens Health , 2003). In the current world, breastfeeding has been considered not to be beneficial, and that infants can be fed formula milk and survive. I disagree with this and can say that formula milk will never have similar vitamins and nutrients that are in the human milk even if vitamin, minerals and supplements included in formula milk, additionally, breastfeeding is also beneficial to mothers. Firstly, breastfeeding prevents the high risks of infectious diseases on children. Research has shown that breast milk prevent children against infectious diseases like lower and upper respiratory infections than formula milk. These infections are caused by lack of immunity and antibacterial that are present in human milk, hence most children affected with these infections are those fed formula milk. Latest research has also indicated that breastfeeding helps in preventing urinary tract infections. Secondly, breastfeeding is also beneficial to children who are born as a result of pre- mature births leading to children being born before they fully develop. The term that is usually used by most medics is neurodevelopment. Studies have indicated that breastfeeding contributes to cognitive development of infants whereby children who are breastfed develop faster than those fed formula milk. However, it reduces the death rate during early childhood. Studies have indicated that most death is common in formula fed infants because there is no interaction that takes place between mother and child when breastfeeding hence, mothers’ intelligence during breastfeeding also contribute to few SIDS

Organisations and Needs Essay Example | Topics and Well Written Essays - 1500 words

Organisations and Needs - Essay Example In the present case study of banking organization, the training dept, faces layoff/down sizing for the last 3 years continuously. Full time establishment in the Trg. Centre was 260 in 2003 but reduced to 136 in 2006. Further the budget of Trg. dept. has also been reduced drastically from 20 million pounds in 2003 to 11 million pounds in 2005. Apart from this reduction, management is expecting the same productivity and output. This situation put tremendous pressure on the remaining work force. Though the downsizing was not only in Trg. Dept. but spread over all the important departments such as Administration, delivery and line management. The workforce, who survived the downsizing, was in traumatic condition due to layoffs of their close colleagues. Not even this but the further announcements of reduction and restructuring of Trg. Dept. and senior managements ultimate of further restructuring and proposal of downsizing the organization Trg. Dept by further 14 in number after at least 3 weeks put additional pressure/stress on the remaining workforce. This announcement creates havoc to the trust of the workforce at workplace. Now the complete atmosphere of uncertainty was widespread and employees working in Trg. Dept. are certainly facing the traumatic, emotional uneasiness. Downsizing the organization basically results in very serious and painful conditions and that can have a profound effect on the entire organization and especially on the employees who looses his/her job or have the fear of loosing jobs in near future. Discharging or likely to be discharging from the job, generates high emotions basically negative emotions towards management and the organization. Though the management/organizations carry it out as a necessity and with all legality but the process of downsizing as a whole always creates an emotional issue with in the organization. Companies' downsizing/layoffs have always a powerful impact on the organization. They can affect the morale of the organization's remaining employees, who may fear losing their jobs in the future. Due to downsizing the first and foremost thing, which will get affected, are productivity, morale, trust and security. Due to downsizing the morale or motivation level of the remaining employees will be at the lowest level, his/her trust with the organization must be shattered and security about future get diminished. All these factors immediately affect the productivity of remaining workforce. So to survive these redundancy and uncertainty about future downsizing, one should not6 be passive and fatalistic but try to be more positive and pessimistic. Now in the position of redundancy, I as an individual and also with my team must priorities and follow certain rules, which has been enumerated below may help to assure us to be retained. Though it's not a guarantee but it helps us. The first and foremost thing is to look more professional rather than casual. Individually or as a team, we should never dress like a fashion model or look like unprofessional so that we could be easily identified separately. Looks always make difference in the perceptions and in the situation of redundancy; perception of unprofessional or non-serious team always goes in the negative way. During the situation of redundancy or within the process of do

Writing Assignmet Essay Example | Topics and Well Written Essays - 500 words - 1

Writing Assignmet - Essay Example CQR critics, like Beeson, point out that Section 15 of the US Patriot Act violates the 1st and 4th Amendments of the constitution by curbing the rights of interfering in a citizen’s personal data without his or her knowledge. The right in this provision helps the law to identify suspects and terrorists as soon a possible. It is a god idea because it helps in obviating terrorist acts and by taking preventive measures. According to the CQR, such powers encompass the civil liberties related to the infringement of political and free speech rights. The Bush and Obama administrators were criticized for abusing civil liberties in the wake of their war on terrorism. The major civil liberties purported to be abused were the liberties related to free speech. The FBI and the CIA conducted an enquiry into the civil rights. The international group has strongly criticized the interference in a person’s fundamental rights and has stated that the individual rights always take a backseat and suffer due to these actions. 7. How does the Brandon Mayfield case support or reject this claim? You will need to look up Brandon Mayfield as he is not mentioned in this chapter. I recommend that you type his name into the Google search engine. Please avoid Wikipedia throughout the course. The Brandon Mayfield case supports the claim because Brendon was arrested not after investigation, but based on the assumption that he played a fundamental role in the bombings. Brandon Mayfield case was simply linked to a bombing case without any evidence and his credibility was hampered due to the arrest. The US law did nothing to counter the harm done to Brandon’s personality. 8. Compare the case of another detainee, Mahr Arar, (mentioned in CQR but not in the chapter associated with this assignment) with that of Brandon Mayfield: How are their cases similar and how are they different? I recommend

Marketing Assignment Example | Topics and Well Written Essays - 500 words - 6

Marketing - Assignment Example Business goods can be distributed in the following manner: producer to consumer; producer to agent to consumer; producer to distributor to consumer; producer to agent to distributor to consumer. Finally, services, because of its nature can only be distributed either directly to consumers or through an agent. Decisions as to which path to take must take into account, among others, the resources available, the market itself whether local or foreign, the price of the goods, and geographical feasibility. Avon and Tupperware, for example, sells its products directly to consumers whilst Procter and Gamble sells through retailers like supermarkets. Insurance and travel industries sell through agents. Producers must also take into account factors such as the most effective distribution channel, the most appropriate level of distribution intensity and degree of channel integration. In the first, considerations such as buyers’ expectations, geographical location and clustering of target consumers, producers’ resources, nature of the goods, and the channels that are being used by competitors are taken into consideration. The second consideration involves the number of channels to be used per area, which may be intensive, selective or exclusive, and should be dependent on the resources of the producer, the image it wants to project and its main priorities. Tyrell Potato Chips, for example, sells only to specialist retailers that gives it an upmarket image and allows it to gain a 35% profit margins not duplicated by its competitors. Finally, the third consideration will depend on how much the producer wants to get involved in the distribution and sales of the goods. It c an opt to choose the conventional methods, franchising such as the practice of McDonald’s, Starbucks, Body Shop and Benetton, or to go all the way by buying all channels involved to

Write an editorial-style article on the role of economic strength in Essay

Write an editorial-style article on the role of economic strength in natural disasters - Essay Example But in more modern economies, a natural disaster actually appears to have the potential to improve the economy of a nation. Bennett (2) points to the Sichuan, China earthquake that killed nearly 80,000 people in 2008. Official governmental records show that the economy actually grew at a faster than normal rate for the area affected by the earthquake. While economic statistics from the central government in China are notoriously inaccurate, there is little doubt that the economy did actually grow in the short and the long term during the months after the earthquake. With long-term economic growth in mind, how should wealthy nations use this information when considering how to provide aid in the aftermath of a natural disaster? A study of the economics of recovery has revealed that there is a dark side to international aid. Klein (3) represents the more radical edge of this belief. She claims that free markets do not spread capitalism. Rather, NGO’s and governments taking advantage of societies shocked by the ravages of a natural disaster spread capitalism. Natural disasters are actually seen as growth opportunities by these organizations. Perhaps a less cynical and more powerful article focuses on a recent study by Hideki and Skidmore (4) that attempts to quantify the long-term economic benefits of post-disaster relief. What these researchers found is that of 89 countries experiencing natural disasters such as volcanic eruptions, earthquakes and hurricanes, the countries that had the most natural disasters actually had the greatest economic growth over several decades. The reason for this may lie in the fact that the improved economic conditions come from replacing outdated factories and infrastructure with newer, more efficient and productive infrastructure. So, in a way, natural disasters can be a sort of economic boon if some of the aid money is directed and used with an eye to the economic future

Ethical behavior in business Essay Example | Topics and Well Written Essays - 500 words

Ethical behavior in business - Essay Example This incident is a serious matter that should not be treated lightly. To clean up the mess the company has to invest millions of dollars, but the damage caused by the spillage hurt the ecosystem and killed thousands of animals. Big Dirty Oil faces an ethical dilemma in regard to how the firm should approach the problem. This essay includes the view and perspective of three stakeholders: CEO, local fisherman, and the shareholders of the company. The CEO of a company is the person that has the most power within an organization. When a firm faces any controversial situations the CEO must act as the spokesman of the organization. The oil spillage that occurred off the coast of British Columbia and Alaska was a major crisis that had to be attended to immediately. The CEO of the company must find a balance between doing the right thing and maximizing shareholders’ wealth. Maximizing shareholders’ wealth is the goal of all publicly traded companies. In light of the sensitive situation the CEO should have reacted in a different manner. The current position of the CEO is that the incident was a tragedy and he offered two million dollars to aid in the clean up. The proposal of the CEO was outrageous due to the fact that it could cost hundreds of millions of dollars to properly clean up the area. The CEO acted in an unethical manner. Instead of facing up to the problem he dismissed the protests against the company by ca lling the protesters â€Å"the outpourings of Greenies and other fanatics.† The reality was that the company had polluted thousands of square meters of water and killed thousands of fish and wildlife in the region. These creatures no longer had a habitat to live. The stance taken by the CEO was wrong. He cared more about the quarterly profits of the company than about the well being of thousands of animals and hundreds of fishermen that depended on fishing in the region everyday to support their families. The fishermen in

Report of recent financial crisis and writing a report Essay

Report of recent financial crisis and writing a report - Essay Example The Big Short significantly explains the banking crisis of crisis of 2007–2008 by unfolding the events preceding the crisis, the actual crisis, and the characters involved (Lewis 1-5). Michael Lewis derives that a crazy, fabricated money machine, built on flawed mathematical models that most financial executives did not really understand the caused the crisis leading to loses of several trillion dollars through government bailouts. He establishes that in the late 1980s, Wall Street imagined that it could generate â€Å"bond-like† financial products from other debt-based income streams like home mortgages and credit cards. In this context, a bond represented an income stream based on borrowed money. As such, Wall Street designed mortgage bonds in form of stacked layers to enable everybody to access them. As a result, investors craving for higher returns on their money invested in the lower â€Å"tranches† while investors seeking lower returns invested in the highe r tranches. Indeed, we can trace the 2008 financial crisis from the development of the mortgage derivatives (Lewis 21-27). With the help of ratings agencies, Wall Street turned subprime mortgages into exotic, toxic financial products that attracted huge turnovers through laundering and reselling. The subprime mortgages had higher risks attached to them but equally paid much higher interest rates designed for borrowers with lower credit worthiness. As a result, the demand for the subprime mortgages from Wall Street increased leading to increased motivation on the lender for additional subprime mortgages. In addition, marketing for the subprime mortgages increased considerably and more people took up the loans. Indeed, Michael Lewis argues that these financial instruments became opaque and complex everyday overshadowing the fact that their foundation lay on suspect loans that kept rising (Lewis 112-117). With more people willing to buy the subprime mortgages, the quality of the mortga gees decreased, the risk for Wall Street’s mortgage bonds increased, and it became harder to sell the bonds to investors. Unfortunately, as the unstable foundation of subprime mortgages became weaker and posed a greeter danger to the world economy, the chief executives of America’s premier banks did not foresee it. Indeed, government regulators and treasury officials also failed to identify the eminent danger. Nevertheless, some investors saw it and used the opportunity to make huge financial benefits from the financial crisis. However, Michael Lewis notes that Wall Street firms had the ability to hide the risk by making the idea complex and using the rating agencies. Actually, the rating agencies that included Moody’s and Standard & Poor’s   helped in giving risky ratings that equaled the US treasuries thus opening the financial market to many of CDO buyers. At this period, Americans bought the mortgages in large numbers without knowing that the mortga ge demand emanated from their actions. Michael Lewis introduces one of the investors who sought to benefit from this financial crisis as Darwinian world of the bond market. He also introduces Michael Burry, who became obsessed with investing and started a fund with the family money. Lewis states that after studying the bond market in 2004, Dr. Burry became convinced

PR And New Media Essay Example for Free

PR And New Media Essay Public relations (PR) are the management of internal and external communication environment of an organization to generate and sustain a positive image and goodwill. It often involves in activities like popularizing successes or exaggerating success, rejecting failures or hiding the weakness of company, announcement of new promotion campaigns, detailing new strategies involving public, media and investors. It should be mentioned that Public relations is also viewed as an art or technique to endorse, encourage, sponsor goodwill in the external environment like media and public. Thus, it is essential to incorporate a proper campaign related to public health program in the context of public health like the one the campaign targeted in this case: An anti-smoking health campaign for the UK department of Health, aimed at encouraging 35-45 year old smokers, primarily in disadvantaged areas, to access NHS smoking cessation services. This group is traditionally considered difficult to reach. Public health relates to all the threats for the general Health of the society, focusing on the resident’s and non-resident’s health analysis. Health can be defined as complete body, mind and social welfare, but not simply the failure to be suffering from a disease or infirmity. It can be stated that diet, religious nourishment and brain balance, determine someone’s health. Health can be environmental, epidemiological, and professional/Occupational. The nation’s resources should be spent in saving lives and improving living conditions. Research and development on public health is necessary to determine the cause of disease and cure or prevention for the diseases. Thus, a public health campaign is essential for UK in the context of Anti smoking awareness. Public relation is an important management function of any organization and in this issue of anti smoking campaign. It dictates the communication environment be it internal or external, of an organization. It is often done to create and maintain an optimistic image and goodwill of the organization. Public relation is also viewed as a process to support, encourage and sponsor goodwill. It effects in not only the external environment like media, investors and public but also the internal environment like employee and investors. As Mr. Robert L. Heath said Public Relations is a set of management, supervisory, and technical functions that foster an organizations ability to strategically listen to, appreciate, and respond to those persons whose mutually beneficial relationships with the organization are necessary if it is to achieve its missions and values. (Wiki, 2007) With changing world perception, public relation starts from collection of data, identifying challenges and problem areas, and finally making strategies for implementing goals. So when it comes to health it Public Relation becomes more so important. It is not only health awareness but also controlling various health factors like cancer, tropical diseases etc. Here methodologies used for Public Relations are press releases, press kits, advertisements in newspaper, satellite feeds, web casts, wire service distribution of information and internet placement. Other indirect tools can be include entertainment product placement (television, events, celebrity), product launches, press conferences, media seminars, producing events, speechwriting and establishing partnerships. The most important aspect here is use of right media for right purpose. Anti-smoking health campaign for the UK department of Health One of the main challenges in facing the world is smoking. Every year hundreds of thousands of people around the world die from diseases caused by smoking, directly or indirectly. One in two lifetime smokers have been seen to die from this habit. Half of these deaths will occur in middle age usually in the age group of 35-45. Tobacco smoke itself is the reason of number of  cancers. The resultant mixture of nicotine and carbon monoxide, in each cigarette smoke can temporarily increase ones heart rate and blood pressure, straining the heart and blood vessels. This causes heart attacks and stroke. It slows your blood flow, cutting off oxygen to your feet and hands to the brain. Some smokers end up having their limbs amputated. Tar coats on lungs like soot in a chimney and causes cancer. A 20-a-day smoker on average breathes in up to a full cup (210 g) of tar in a year. Carbon monoxide can cause depletion of muscles, brain and body tissue of oxygen, making the whole body and especially the heart work harder. Over time, airways swell up and let less air into your lungs. Heart disease and strokes are seen to be more common among smokers than non-smokers. It also causes fat deposits to narrow and block blood vessels, which lead to heart attack. (QSS, 2007) The National Health Service (NHS) a publicly funded healthcare system in Great Britain provides healthcare to everyone normally resident in the UK. It is funded exclusively through income tax, and provides many services are free of charge to the patient. Other than normal healthcare NHS has been required to take on pro-active socially directive policies, for example, in respect of smoking and obesity. Here National Health Service can involve new media in its Public relation activities. The National Health Service of Great Britain has been using stop smoking clinics for quite some time now. It has been called a success after figures showed significant progress in disadvantaged areas. The study found 8.8% of smokers in poorer areas had quit at the four-week mark, compared with 7.8% elsewhere. The comparison is particularly relevant as smoking is a key factor in health inequalities with those from deprived backgrounds more likely to smoke. Smoking cessation clinics, offering counseling and treatment in the form of nicotine replacement therapy, were set up in 1999. (News.BBC, 2007) The age group of 35-45 for smokers is of particular interest to NHS. This age group primarily consists of new mothers and fathers to middle aged people. This age-group has been found particularly difficult to reach because of job related problems. In study it has been found children whose parents smoke during pregnancy or in the early years of childhood are more likely to smokers than those whose parents are not. This age group is also the most stressed among other groups leading or finding excuse in smoking. It has been found that quitting trends of smoking has been lower in populations in disadvantaged areas. NHS can use different methodologies with the help of new media to propagate these services. Disadvantaged areas or not internet and television are more or less available to most people on UK. On of the better techniques that can be use by NHS can be blogs, news feeds, social networking sites, news sites, patient review sites, experience or photo sharing sites, even games or interactive media. These can offer the latest insights to new technologies available for stop smoking. These pod casts can also be use to tell the participating audiences about camps going around and take updates from them about their current status of smoking habits on weekly basis as is normally done. This also ensures that the privacy for the participating audiences and even participate in some activities anonymously. NHS can optimize use of blogs and social networks for maximize positive exposure. It can harness the potential of the full range of new media channels like live-feeds, podcasts, life casts of smokers quitting smoking. Here patients can create their own content, writing their experiences of quitting; posting pictures and videos, and can also offer their experiences to other fellow counterparts. Patients can be allowed questions to a panel of elite professionals and gain valuable insights into how they wish to be cured and continue after the quit smoking exercise has been done. At the same time, evaluated results can also seen and effectively the impact of PR strategy with the help of Public Relation Strategy can found and if needed be altered. However, there is a significant advantage of the new media. New Media works best among a focus group of like-minded people. Visitors should be spreading the word to friends that will be interested in the topic, not to everyone else. Thus, in this context, the target audience (aged 35-45) would be accessed easily once the advertisement is properly carried out. When visitors are not even sure about the significance or meaning of targeting, how can they be made to act as advocates? The reward should be relevant to the target audience. The size of the reward should not be so large that customers resort to cheating. Again, the advertiser should control the response by ensuring that products are carried to specific groups interested in it. CNET regularly gives away technical content free to users. In return, subscribers need to take a link to CNET. This feature allows users to put up technical content in their websites. Participants in the program will naturally be placing the stories to visitors who will be concerned with trade or industry news. The relevance of the giveaway (free content) effortlessly brings in the target audience. The costs of improper planning, analysis and the wrong products can tip the scales instantaneously on a campaign. Though viral marketing is a relatively low cost advertising strategy, the wrong move could disable a company or product. A lot more is anticipated on this subject. However, to incorporate user-generated content into this communication plan it is important to process a well-formulated feedback plan from the visitors on the subject. For the purpose, a questioner on the subject would be presented and the response would collect, as it would prove to be the benchmark of this project and determinant of its success and failure. Nevertheless, a high amount of feedback returns would be almost synonymous for the success of this campaign. However, here is a shortcoming of the new media, it is the small working groups, and often numerous numbers of such sites can make difficultly for NHS. New Media tactics are designed to spread rapidly. One tells two friends who tell two others and so on till the numbers reach a highly critical mass. This is the same principle working in real time direct marketing programs. In the ambience of the web, growth is instant and so is the reaction. A good joke spreads to thousands in one day because it is so convenient to click Forward, and hit Send.   Such is the potential of a New Media program. We have often seen those â€Å"distress† messages operating similarly. When dealing with a web site the respondents might have to enter a site, registering, download a large file, buy things or request free deals. A 100-fold increase in traffic might result in just one day, providing the message is compelling enough and the proposition is motivating. More to the point is whether the advertiser’s server is ready to take this flood.   Is staff ready for this onslaught? If proactive plans are not in place, then the huge response will most likely end up in a backlash. However, other media programs would also be instrumental in the issue. Measures would be taken to fulfill the approach under various parameters. A multiple mode of public relation applications would be used like radio, print media, TV and live campaigns. Programs related to public heath would be aired on radio and TV to make the mass aware of the smoking hazard and the protection needed against these smoking related diseases. Live campaigns and kiosks would be incorporated in public spaces and within vulnerable communities to create awareness. Special units would also be prepared to persuade the health ministry with participants from all walks of life with possible influential backgrounds. It is important to create awareness both in the parameters of public and administrative strata and without the help of both the overall objectives of the public health program would not be fruitful. Conclusion In conclusion it can well be stated that crisis in western capitalism generated the operation of an interventionist welfare state has been resolved by transferring the burden of crisis to some groups among welfare state consumers, as earlier   discussion of the realignment of welfare policy in accordance to public healthcare programs formulation, specifically related to the anti-smoking issue. This shift to a theoretical model whereby the welfare state is seen as in process of ‘modernisation’ or as in ‘transition’ may well have supplanted earlier crisis theory at a time when the real crisis for the welfare state, in the case of public healthcare program formulation at least, may finally arrived. Bibliography: Croteau, D and Hoynes, W; (2003); Media Society: Industries, Images and Audiences (third edition) Pine Forge Press: Thousand Oakes Economist; (2007); Story; economist.com; Retrieved on 04.03.2008 from http://www.economist.com/surveys/displaystory.cfm?story_id=6794156 Flew, Terry; (2002); New Media: An Introduction; Oxford University Press, UK Manovich, Lev; (2001) The Language of New Media; MIT Press, Cambridge and London News.BBC; (2007); Health; news.bbc.co.uk; Retrieved on 04.03.2008 from http://news.bbc.co.uk/1/hi/health/7127193.stm QSS; (2007); Harmful Smoking Effects; quit-smoking-stop.com; Retrieved on 04.03.2008 from http://www.quit-smoking-stop.com/harmful-smoking-effects.html Wiki; (2007); Public Relations; wikipedia; Retrieved on 04.03.2008 from http://en.wikipedia.org/wiki/Public_relations

Customer service in Halifax Essay Example for Free

Customer service in Halifax Essay Customer service Customer service is any part of the service that customers receive from the staff of the business. It is also a way in which the organisation deals with its customers. Businesses need their customers to buy their products or use their services in order to survive and make a profit. The way that they treat their customers is therefore very important. Many businesses have a policy of customer service, which involves putting the customer first in all situations. Customer service involves: * Making sure the product range is available to the customer * Making sure the product is safe and reliable * Providing information about products and being able to give advice * Making sure the product range can be delivered if necessary * Providing credit facilities where appropriate * Providing after sales service guarantees It should be the aim of every business to provide the highest level of customer service. There are laws, which provide protection to customers buying products. Businesses should know what their obligations are under these laws.it will help them maintain a high level of customer service. Why customer service is important in Halifax Customer service is important to Halifax because it brings in profit (the more customers the more the profit). The customers provide income to Halifax. Halifax does so much advertising and looses money but because it provides good customer service, the money lost is replaced. Customers are also a source of market research information Customers ensure the survival of the business Because of good customer service, Halifax spends less effort dealing with customer complaints. Customers are relined and refrained in Halifax because they are treated well and are made to feel good and safe with their money and properties. Halifaxs image is improved This is because everyone knows that it provides good customer service. My friend told me how good Halifax is and I was attracted to go and open up an account with them the next day. I also told my boyfriend about it that also went and opened up an account with them. To build customer loyalty All Halifaxs customers are loyal to it and they keep on using more of its services. They enjoy them. Increase competition It is only natural that where there is an attractive market, competitors will seek to obtain profitable businesses. The newcomer may sometimes even have an advantage due to the fact that he may have benefited from the experience of the long established supplier. As the newcomers start from scratch, they can use the latest equipment, techniques and systems and can select staff to fit the image they wish to create. Good customer service also gives Halifax a competitive advantage over other banks or building societies. Better informed customers Customers know a great deal more about Halifaxs services than they used to, partly because of the competition and partly due to the extensive studies conducted by consumer groups, and Halifax staff. A great deal of information is also available over the Internet. The emphasis put into competitive advertisements also makes customers more aware of the aspects they should examine. Halifax is a very good example where public pressure has forced regulations ensuring fuller disclosure of costs and more realistic estimates of benefits. Product similarity From the customers point of view, who I interviewed, it is difficult to distinguish many of Halifaxs services from those of their competitors. They often use the same services perform the same tasks in a very similar way. As an example, I could look at the personal computer industry, where a large number of computers can utilise the same software programs. One of the few ways Halifax can differentiate thereselfs from there competitors is by means the image for customer care that they build up and the reputation for customer support that they have earned over time. Rinsing demand for improved support With the choice of supply sources now available to Halifax customers they know that they are in a buyers market and they are therefore demanding improved support from the Halifax they have selected. In general it has been shown that with a higher living standard, customers are willing to pay for improved support. For instance customers in the past may have been willing to wait for a week or two for a telephone to be installed whereas now they expect it to be done in as many days. Life cycle costs As many products are technically more soficicated, customers have become more dependent on the continuing support from Halifax to keep their services in operation. They are increasingly looking at the life time costs and Halifaxs ability to support their services efficiently throughout the life of that service. When a customer buys a car for instance, he will want to know how good the maintenance service is what the costs are likely to be the fuel consumption and the resale value after a certain number of years. Training the frontline This is important because it means good customer service in Halifax in a way that when all staff are trained, there will be good communication between the staff hence providing good customer service. Training helps Halifax maintain good service in different departments. For example technology, promotional, health and safety, money wise. Managers in Halifax identify training needs for internal customers and provide suitable training events. Halifax is aware that well trained internal customer service provides good external customer service. Identification of the situations that require staff to have contact with customers A customer is a person who requires a product in exchange for money or who uses a service. Staff can have contact with customers through so many ways these are: By phone This is normally used when one of them (customer/staff) needs to ask a question and get a quick response.because both the staff and customers cannot see each other, it is unable to observe the other persons body language. Though this happens, customers are not left waiting. The member of staff says what he is doing and how long he will be. The customer is always being informed of the actions taken. Music is often played to customers kept waiting in order to give them something to do, i.e. listen to music. The staff make sure they do everything they can to make the customer feel valued. Through letters This is used when a permanent record is needed. Eg.where a letter head showing the Halifax logo adds credibility to the company. Sentences are always kept short in the letters. The subject is always introduced at the beginning of the letter so that the customers know what the letter is about. Through Internet This is used when you can not get someone on the phone. The email is given an effective tittle, which makes the reader want to open it. They are not typed in capitals because the reader may think that the member of staff is shouting. Face to face This is done when the customer is on the premises. Usually when delivering bad or good news. Also when a permanent record is not required. Or when documents have to be handed in for opening new accounts. Through fax This is used when speed is required and the information is not confidential. This applies to letters. Staff always contact customers about: * Details about the new extra services introduced * Their bank accounts * Their mortgages * Their complaints * Opening bank accounts * Overdrafts * Foreign exchange purchase transfer * Withdrawal or payment * New service products etc Ways in which Halifax meets the needs of its customers Halifax is a successful firm because it identifies who its customers are and what their needs are quickly. Needs of internal customers Needs of external customers Sick pay To make a purchase Holidays Need to obtain information about a product Pension Company cars To make a complaint Staffs discount To maintain ethical standards Working conditions e.g. Safe environment Specials needs like the deaf, blind, old, physically handicapped, or with children. Job security Food Decent wages or salary. Christmas presents and bonus/ end year party Staff facilities e.g. room, gyms, toilets. Training. Training of internal customers in all aspects of their jobs ensures that external customer needs are catered for, whereas good staff relations or industrial relations, effective communication and good company policies ensures the satisfaction of internal customer needs. Internal customers These are members of staff who rely on other members of staff to help them do their jobs properly. In Halifax, internal customers feedback is included in performance reviews. Halifax is now making input a formal part of a 360-degree feedback process, in which employees, peers and the manager all evaluate the performance of managers. In addition. Halifax talks to its internal customers during meetings and asks them about their needs and finds out how it can serve them better. Always giving you extra as long as the employees do it for their customers, theyll do it for the employees. Theyre looking to develop the best motivated and best rewarded team in the business, so the employees should expect plenty. Training, sales support, personal development, opportunity, great incentives you name it, Halifax goes that extra mile to make sure the employees have everything they need for a rewarding career. And that, of course, includes a benefits package they find hard to beat by anyone, anywhere. It covers everything theyd expect (good salary, generous holidays) and plenty that they wouldnt, such as bonuses and incentives, share schemes, discounted mortgages and plenty more all adding up to a total rewards package to match their total commitment. The following are part of Halifaxs human resource policies: Pay (plus bonuses) Generous Holiday Entitlement Shares Colleague Products Money Purchase Pension Life Assurance Flexible Working Flexible Benefits Recognition Our commitment Support when it counts Academy Pay (plus bonuses) Halifax starts by giving employees a highly attractive basic salary. They have bands, but theres a lot of flexibility. So theyll take into account the nature of the role, as well as the employees skills and experience. On top of this, everyone has the chance to earn more by putting in extra. So employees can earn a bonus for individual, team and company performance. Reach or exceed the employees targets for example, and the employees can expect to receive between 10% and 30% of salary extra! Nice. Generous Holiday Entitlement The employees receive between 22 and 30 days paid holiday a year, depending on their role and length of service. Shares Halifax group wants employees to share in their success (they like smiling people). They wont go into detail here, but there are various schemes where employees receive either shares or share options. Its hugely popular. Largely because it can be hugely profitable for Halifaxs colleagues. Colleague Products Halifax is the UKs number one for savings and mortgages, and have plenty of other products too, such as insurance and healthcare. All of which are available to employees at attractive, discounted rates. External customers These are individuals and business customers who buy or use the goods and services provided by an organisation. With staff who can speak a wider range of languages, Halifax and customer service has improved. They monitor holiday costs constantly to give customers a better deal. Plus, they can give customers a guaranteed minimum 5% discount on a wide range of brochure-priced holidays and charter flights! Halifax also meets its customers needs by giving eye contact, explaining transferred telephone calls to customers and colleagues, being genuine and sincere, knowing about their products or services, knowing about its policies, treating customers as individuals, and minimising queuing times. Home delivery For home delivery, orders placed in a branch or over the phone before 2.30pm Monday to Friday are usually delivered to the customers home address by 12 noon the next bank working day (excluding Saturdays). Orders placed on Saturday or Sunday are usually delivered by 12 noon the following Tuesday. All home deliveries are by Royal Mail Special Delivery. There is a charge of à ¯Ã‚ ¿Ã‚ ½5 for all home deliveries. Home delivery is not available for orders placed online. Always giving extra to customers with particular needs Halifax group is committed to providing all their customers with excellent service, whatever type of relationship they have with them. They do their outmost to help all customers with special needs. Their cash machines are generally installed at a lower level to make them easier to reach, and the newer machines have been adapted for the visually impaired to use. Halifax has around 800 branches in the UK, most, of which are open plan to make it easier for customers to find their way around. The majority have a reception desk, with seating provided. And their staff are always on hand to discuss specific needs or answer queries. Wheelchair users Getting in and out of Halifaxs branches is usually easy, with level or ramped access from pavements. And, wherever possible, doors are automatic. Call Assistance At some branches steps are unavoidable, so a Call Assistance bell system was installed, so that a member of staff can be called. Servicecall Some branches are fitted with the Servicecall system, so that customers with a Servicecall transmitter can alert staff of their arrival. Lifts Where branches have split-level banking halls, Halifax provides internal ramps or wheelchair lifts. Low-level counters and counter queuing rails Lower level writing surfaces are increasingly being provided at the counter. All branches have counter queuing rails, often with lower level writing surfaces. Other banking options To help make it easier for all their customers to manage their finances at their convenience, they offer a number ways to access Halifax as well as via other large network of branches across the country: Online Customers can apply for a Halifax Current Account online. Then once it is registered for telephone banking they can do their banking online via Halifaxs website 24 hours a day, seven days a week. Click www.halifax.co.uk for more details. They also offer a Share Dealing service online, and applications for other products such as Personal Loans, Credit Cards and Travel Insurance can be made via the web site. Telephone Halifax Direct is a 24-hour telephone Current Account service. Customers can use it for everything from checking their balance and ordering a statement to arranging an overdraft. Arrangements can also be made for customers to pay bills and transfer money to other Halifax accounts. All Halifax customers can telephone Halifax direct for other services, for example a Personal Loan or travel money. Customers who are hearing impaired, can contact Halifax Direct using textphone on 0845 732 3436 Contact Halifax They have undertaken an extensive disability awareness programme to help staff overcome the barriers which people who have a disability face. To help them continually improve their services, if you would like to make any comments about their site or the services they offer customers with disabilities, they request the customers to use this form. Philomena Gray, Disability Manager by e-mail: JayneO[emailprotected] or at:Halifax plc Trinity Road HALIFAX West Yorkshire HX1 2RG How Halifax deals with customers complaints Once Halifax is prepared for any potential problem a customer may have brought to them, their next step is to use the companys complaint system the company has in place for dealing with complaints. Halifax deals with complaints in many different ways. This can be done through: 1. The telephone 2. Face to face 3. In writing: typical written communications involve providing information on the services provided, prices of mortgages, statements of accounts and safety procedures. Because Halifax actively seeks and encourages complaints, they are able to understand and meet the needs of their customers. If a customer is dissatisfied and is unable to express that dissatisfaction, Halifax will never see that customer return. What is worse, the customer may also persuade potential customers not to stop within Halifax too. Customers with bad experiences were twice as likely to tell others about it as those with a positive story to recount. Customer complaints are viewed as opportunities to improve a service offered rather than problems ignored. The causes of the complaints are dealt with the and lessons learnt. Customers making complaints are seen as contributors to the process of improving customer services rather than awkward individuals who enjoy making life difficult for staff. By respecting customers and treating them accordingly Halifax is able to monitor and improve the quality of service offered. Many products arise because the law has been broken. There is a large number of laws that try to protect the customers. Halifax tries not to break the laws. The major consumers laws include; The descriptions Act 1978, which makes it illegal for Halifax as a business to give misleading descriptions of their services and products. The consumer safety Act 1978, which make sit illegal to sell goods, which may be harmful to customers. The consumer protection Act 1987, which makes it illegal, amongst other things, for a business to claim that its prices have been reduced when they have not. It also makes suppliers responsible for any injury that results from defective goods. The consumer credit Act 1974, which requires Halifax to have a specific licence because it offers credit otherwise they will be committing an offence. If the law has been broken, customers can take Halifax to court. This may cause the business money and give it a bad reputation. That is why they make sure that they do not break the law. Halifax also makes it certain that customers are happy with the services they provide. Details of all customers complaints are recorded. This is done so that there is a record of what action was taken in case the customer wishes to take the complaint further. Recording the data also allows staff and management to use it for capturing customer details. The nature of complaint and the service involved is recorded and quite often the name and address of the person complaining is recorded. Halifax has a special service desk for dealing with customer complaints, and also specially trained staff. When customers approach with a complaint Halifax staff make sure they: * Listen to them carefully * Reassure them that their complaint is being taken seriously * Decide on an appropriate action * Apologise if the business is responsible * Record the details of the complaint * Record the action taken Checking that customers complaint is valid Halifax wont take customers complaint seriously if its something, which is not their fault. For example, if your current account has no overdraft facility but you regularly overdraw the account, you cant really complain if Halifax charges you for doing so. If, however, charges on your account push the balance into the red, it should not charge you for being overdrawn. Halifax deals with complaints about something in relation to: * Customer expectations not met * Late delivery * Incorrect information * Waiting/queuing times * Attitude of staff * Faulty service products * Statement errors What happens next? If a customer complaint is something Halifax has the power to deal with, they will usually start by seeing if they can help the customer to resolve matters in an informal way. One of their staff (usually called a caseworker) will take a fresh look at the facts and let the customer know how they think the customer could reach the agreement. This approach is often called mediation. If a customer has a problem, Halifax can always help They aim to offer customers the best possible service, but there may be occasions when customers feel they have cause for complaint. If so, Halifax will always try to resolve the problem quickly and to your satisfaction. If the customer is unhappy with their response, he/she can take his complaint further through their complaints procedure outlined below. Following Halifaxs complaints procedure does not affect a customers legal rights. 1. Where the customer first makes his complaint Halifax aims to resolve customers concerns within 24 hours. Sometimes it may take longer to look into the matter fully. If this happens, they will let the customer know within five working days who will reply. The people a customer first raise the matter with are often able to help, but there may be occasions when a specialist area needs to be involved. If the customer doesnt know who to contact, they can: * Call Customer Relations on 08457 25 35 19 * Textphone Customer Relations on 08456 00 17 50 (if you have a hearing impairment) * Write to them at: Halifax plc Halifax Customer Relations Trinity Road Halifax HX1 2RG They will then arrange for the right person to look into and respond to the customers concerns. 2. Customer Relations In the unlikely event that the customer remains unhappy, he /she can ask for his complaint to be referred to a Customer Relations manager for further review. If the customer is still not satisfied he can, at this stage, ask the Financial Ombudsman Service to help, or for service-related complaints about Halifax Estate Agencies Limited, the Ombudsman for Estate Agents The Halifax supports fully and is a member of both the Ombudsmen Schemes. These are impartial and conduct independent investigations. Ombudsmen addresses For most complaints about Halifax products and services customers can contact: The Financial Ombudsman Service South Quay Plaza 183 Marsh Wall London E14 9SR Phone: 08450 80 18 00 email: [emailprotected] Website: www.financial-ombudsman.org.uk For complaints about Halifax Estate Agencies Limited: The Ombudsman for Estate Agents Beckett House 4 Bridge Street SALISBURY SP1 2LX Phone: 01722 33 33 06 email: [emailprotected] Website: www.oea.co.uk Types of customer records Halifax uses Market research The final method of monitoring customer service satisfaction is through market research. Market research is a formalised method of obtained feedback and information from customers or potential customers about services that are available or soon to be made available. In Halifax, obtaining feedback from customers is essential in learning how to improve the service offered. The process helps Halifax to understand: * The nature of the service from the point of view of the customer. * What the customers are wanting. * What the customer thinks of the organisation. * What will make the customer feel valued? * What sort of initiatives the customers would appreciate. Halifax is able to show that business decisions are supported by information and evidence gained through research. Therefore through market research, Halifax is able to identify customers opinions about: * Interest rates charged. * New and existing services. * After sales service. * The quality of customer care provided by Halifax. Business decisions about these issues can then be made based upon the results of the research. Halifax sends out customer service questioners to 200,000 customers every six months, asking for their opinions on their branch. In addition, mystery shoppers posing as potential customers visit and phone the branches to ask for advice. Each quarter, every branch in Halifax network receives two visits and two phone calls from the mystery shopper, who then fills in the research form and marks the branch on factors such as courtesy, speed, and phone handling techniques. All the results are included into a customer service index for each Branch. The findings are also published internally or all to see, with awards for those branches with the best achievements. The market research I undertook about Halifax provided some interesting results. I decided to measure how much customer satisfaction dictated future buying intentions. The research divided the customers into one of three groups: * Those with problem that had been resolved * Those with a problem that had been recently dealt with * Those whose experience of the bank had only been positive As was predictable, the customers who remained dissatisfied were the ones least likely to buy any more of the building societys services. However, surprisingly, those customers whose problem had been dealt with quickly and efficiently were more likely to use Halifaxs services again in the future than customers who had never experienced a problem. 80% of the customers were happy and 20% were not happy. Among the unhappy customers some of them did not visit the branches often nor use Halifaxs machines. Customers responded positively to open, polite and helpful advice provided by Halifax, even if the outcome was not what the customer was seeking, e.g. applying bank charges. Findings similar to Halifax have emerged from other customer attitude surveys undertaken across a range of businesses. The results of my surveys indicate that by keeping the customers happy, the organisations will retain existing business and will increase future revenue from existing customers. It is essential that a manager act upon any feedback gained through market research. Customers who provide feedback through market research are usually given recognition by Halifax. I also found out that when Halifax do their market research through the surveys, they thank their customers for their time and effort. This is in the form of a card, letter, or telephone call. A number of methods are used by Halifax to find out what the customer thinks of and wants from the service. These include: * Postal questioners. * Personal interviews. * Telephone interviews. * Consumer panels. * Customer feedback forms. Complaints records In Halifax, recording customer complaints and implementing changes to ensure that the customer is not dissatisfied for the same reason again are ways to monitor customer satisfaction. Customers are provided with a system where they feel comfortable about recording a complaint. Only by doing so can Halifax ensure that they are fully meeting the needs of all their customers. When Halifax is dealing with customer complaints, they normally take the customers details. This normally helps them to be able to contact the customer when necessary and to know who they are dealing with. Customer Surveys Customer surveys are used to get inside the customers mind and learn what they are thinking about Halifax. Surveys can determine customer satisfaction, complaints, compliments and questions. Halifax likes to know what their customers are thinking because it helps them improve or tailor their services. Feedback can be a great source of information. Customer surveys can sometimes be a core competency of Halifax. Surveys can be administered online, in person or even via phone. Surveys should be constructed to pull the most valuable data from employees so that Halifax can later use that data for the betterment of the company. Savings and Debit cards When opening up savings or bank accounts, the staff records your personal details and keep them for further reference. At times this is used to contact customers to participate in surveys, to take advantage of new offers, etc. Internal Complaints When the employees make a complaint, Halifax also takes down their comments and again their details. Personnel records The personnel department keeps records of all employees on the payroll. This includes personal information (name, date of birth, address) as well as details of rates of pay, tax, and national insurance number. The records are confidential and should not be accessible to unauthorised personnel. These records are taken during recruitment. Recruiting When recruiting, managers take employees details for further reference. This helps them to know how much they deserve to be paid to know their retirement age, etc, which can be utilised by the firm to provide good internal customer service. The customer service provided in Halifax and improvements In Halifax, The desire to improve and be the best helps motivate staff by providing them with a challenge. It gives employees the opportunity to suggest ideas, use their initiative and participate in the development of the organisation. Excellent customer service provides a focus for all staff to work towards and results in increased job satisfaction for the employees, as well as increased customer satisfaction. Excellent standards in Halifaxs customer service can only be achieved by having a system that enables them to constantly review and improve the service offered. What is an acceptable standard for a customer today will not necessarily be an acceptable standard tomorrow. Constant improvement is essential. Because Halifax is an organisation seeking to improve the quality of customer service offered, it set quality service standards, which are: * Clearly explained * Realistic for employees * Easily measured Having clearly defined standards and a process to monitor those standards gives employees a goal to work towards. 1. Providing information Staff in Halifax provides customers with information, by letting them know what the business has to offer. The information provided is mostly through leaflets and focuses on: *Lost or stolen cards. * Mortgages * Bank Accounts *Loans * Savings and investments *Insurance * Share dealing. The problem to some members of staff is that they provide wrong information to customers. This happens when they are not sure of the answers to the questions being asked by the customers. Halifax improves this by re-training the staff who have the duty of dealing with customer enquiries. They also provide leaflets containing information of the services they offer. 2. Giving advice Customers often expect advice about the services they know little about Halifax. This is likely to happen with mortgages. When people want to open up accounts from Halifax they expect to receive clear instructions and advice on how to use and maintain them. When a business or an individual goes to the bank, they expect that the staff will know a great deal about banking and that sound advice will be given. But in some cases it does not happen. This is because the member of staff gives wrong advice about the service provided and sometimes it leads to the customer changing him/her mind about opening up an account with Halifax. For example when I wanted to open up an account with Halifax, I was told to bring both my parents passports back with me. I was really shocked by that and was wondering why every Bank does not ask for that. Anyway I suddenly gave up because the passports where with the home office. After three months, I called Halifaxs head office to ask them why I needed my parents passports to open up an account yet I had my own passport. The lady on the phone said that it is not right and I should go back to them and tell them that. I spoke to the manager and she said that it is all right for me to use my own passport since I am seventeen. This is why Halifax should train the members of staff going to give customers advice and ensure that they have good knowledge of the service product and procedures. Halifax gives advice on What is the suitable account, loan or action? What is the best mortgage? What is the cheapest way to pay for mortgage? How to use the accounts and cards. How to store and look after the cards. 3. Tailoring the service to what the customer wants Halifaxs staff ensure that customers get what they really want and are satisfied with the services. They know that is what will make them come back again. So staff work out very carefully what customers want and need. They know that customers want to be served quickly and efficiently but sometimes the queue is too long because some tills are not utilised. This really annoys the customers and makes them to leave and maybe pay the money to another account they have in a different bank. Halifax should improve this by letting another member of staff cover for the other if they have gone for their breaks and by making sure that any member of staff who is off sick is covered by using staff who do shift work. 4. Providing credit facilities Halifax accepts payment in a variety of ways for example cheques, cash, account transfers. This makes payment more convenient for customers. In the 1990s, Halifax has been facing a great deal of competition and one way of attracting customers is to offer better credit packages than competitors. Actual details of credit terms have therefore become highly variable and now Halifax is trying so hard to provide the best deal. Halifax is required by law to publish the APR and this does allow some basis for comparison. APR (Annual percentage rate of interest). This shows the actual rate of interest that borrowers must pay on average over the full period of the loan. But in some cases, some customers do not receive their interests which cause complaints and this results to the business loosing customers if the others hear about ones complaint. This is normally caused by errors on the computers, which they use to automatically offer interest to an account according to its type. So to improve this problem, Halifax management and staff should make sure that the machines are checked regularly to prevent unnecessary errors like that. 5. Credit They also offer credit cards to allow customers to buy goods and services and pay for them when they receive their statements from them, usually at the end of the month. When a customer uses a credit card to pay for an item the shop demands its claim for payment back to the Halifax that then pays the shop. Because Halifax must wait for payment from the customer, they usually charge the shop for the right to let customers use the credit card. This explains why the major supermarkets and a growing number of major stores are now offering their own credit cards. For some credit cards, a high rate is charged which makes Halifax lose its customers. They have improved this by putting the rates at a lower charge in order to attract more customers. 6. Administration This is the management of services that help to support the smooth running of department. Every department in Halifax carries it out. These general administration functions might include; 7. Reception This includes greeting people visiting a specific branch, dealing with their enquiries, and taking outside phone calls and connecting customers to right departments. It is also known as the customer service department. When customers come in the branch to make enquiries, in most circumstances there is a long queue. This really annoys customers in that they will complain and give pressure to the member of staff attending to them which will lead to her making mistakes and giving wrong or incomplete information to the customer she is serving. This can be improved by letting the members of staff who are available (not doing any work at that moment) to help out on the reception. This helps Halifax to deal with customers courteously and promptly. 8. Security Ensuring the security of the building property and staff. If there is no security in Halifax, peoples money will not be safe hence loosing customers because all they want is security and trust from the building society. To improve this, CCTVs are installed in the building to keep track of all that is going on in the premises. Most people who come into the Halifax and find it untidy and dirty get the wrong impression and neglect opening up accounts with them. This has been improved by arranging for outside contractors to clean the building, and cater for staff. The clerical work of making records managing records, filling, photocopying. Organising meetings, keeping minutes. Ensuring that internal communications (within the department) operate smoothing. Ensuring the department staffs arrive on time, have the facilities they need and have been paid. Each department will operate in a slightly different way, so it is highly that different departments will have some administrative tasks that are unique to that department, e.g. The human resources department will have to ensure that it has a complete and accurate database of all employees, with contact addresses and telephone numbers. 9. Providing an efficient service This is done when keeping appointments, Replying to enquiries within the shortest time possible, Fast, efficient and friendly service, helping and assisting the customer, answering all telephone calls within five seconds and following the basic principles when communicating with customers on the telephone. Sometimes all this is not done by the employees. They become rude to the customers and act like they have been forced to do their work. They do this by being very slow when serving on the checkouts and not speaking loudly and clearly on the phone. 10. Ensuring that replies to requests for information are with the customer within a reasonable period of time e.g. three days. Documentation is always up to date and accurate. Letters are addressed personally, well typed and without spelling errors. 11. Dealing with customer complaints Sometimes customers complaints are ignored or forgotten about because the member of staff has too much work to do which makes the customers loose interest in Halifax. This can be improved by setting up a Procedure for dealing with customer complaints and problems and since sometimes the procedure is not followed, they should improve this more by establishing a customer service department in each store, appointing a member of staff to be in charge of customer services, Communicating effectively with customers and ensuring that customer complaints are dealt with to the satisfaction of the customer. 12. Reliable systems, facilities and procedures Sometimes when customers come into a Halifax branch to open up an account, they find that the phone or computer does not work. This annoys them and either walk out or complain to the staff, which will disorganise the other services. That is if the customer makes a scene. This is improved up setting up quick and efficient technology with good backup, making sure that customer facilities are kept in good working order, by understanding of procedures by all employees The financial sector is a fast moving and rapidly changing environment. Many of these organisations rely on call centres to handle the huge numbers of enquiries received. Unfortunately high staff turnover is a major problem within many branches, so recruitment of the right candidates as quickly as possible is essential. Recognising the need to make quick recruitment decisions, that are valid, objective and more cost effective, Halifax Plc developed a new recruitment process, which met their criteria. Some years ago the Halifax implemented a competency-based application form, using job relevant competencies that are scored through a standardised procedure, and found they could make initial selection decisions quickly, confidently and objectively. For this project the Halifax saw the need to review their competencies in the light of organisational changes. They reviewed their initial selection process, to ensure that the competencies to be used were still appropriate given organisational changes, and the increased organisational emphasis was on business related competencies. The first stage involved reviewing a number of job roles to identify the key job tasks. The results from this early stage were used to develop a telephone checklist. The checklist is used as an initial sifting mechanism, aimed at ensuring that applicants are aware of job demands before they are sent the application form, thus reducing the administrative burden. Before the final structured application form was written a concurrent validation was conducted on a trial group of current job incumbents to identify the key competencies. It was found that specific competencies from the application form correlated highly with managers ratings of performance, additionally these competencies also correlated highly with the Customer Contact ability test scores of job incumbents. This suggested that people with higher scores on the competency based questionnaire and the ability tests are far more likely to perform better in the job than those applicants who perform poorly on the competency based application form. The Halifax is just one example of where Structured Application Forms have been used successfully. 12. Employee feedback system An employee feedback system is a structured approach to recording employees views and suggestions about the service provided and ways in which to improve that service. In Halifax, employees deal with the customers daily and therefore are able to provide useful advice and information to the employer about the views of customers and whether the service provided meets the needs of the customers. Very often, the employees can make valuable suggestions about how to improve the quality of service offered. 14. Quality review system This is a structured system in Halifax that enables an employer to determine the quality of service being offered to customers and the response of customers to that service. A check sheet or rating form can be used to identify the key areas to be audited. The manager will use the form to review at regular intervals the standard of service provided and customers responses against the criteria. An employer quality review system involves the manager being out where the customers are and seeing the activities taking place. The system involves the manager observing, examining and evaluating the quality of service offered by different employees in different sections or departments. The manager also listens carefully to customers questions, because the issues raised forms part of the evaluation of customer service. A description of any legal constraints affecting the customer service situation There are five main Acts of parliament Halifax knows and they understand the rights they should give to buyers. Most of these Acts are joined towards firms that sell products rather than service products. The sale of goods Act 1979 and 1995 One of the most important Acts today is the sale of goods Act 1979. It covers the fundamental requirements of purchasers, i.e. that goods must be: * As described which means that they should conform their description for example water proof must mean that the items do not leak. * Of satisfactory quality in relation to the price paid, the description, age of the item. * Fit for the purpose for which they are intended which means that goods must carry out the purpose they are made for, i.e. a pen must make a clear legible mark. * The goods must be for a specific purpose the buyer has made clear to the seller at the time of the sale. The supply of goods and services Act 1982 The service standards are affected by this Act. It states that all services should be carried out: * For a reasonable charge * Within a reasonable time * With reasonable care and skill * Using satisfactory materials The consumer protection Act 1987 This Act relates to price and safety. The consumer protection Act is enforced by Trading Standards Officers. It is also an offence not to cooperate with Trading Standards Officers during any investigation. Under the Act it is an offence: * To mislead consumers as to the price of goods, services, accommodation or facilities (e.g. by missing out the VAT when quoting the price) * To mislead consumers over sale prices and claim exaggerated price reductions * To supply goods which are not reasonably safe. The trade description Act 1968 This Act is designed to prevent the false or misleading description of goods, e.g.: * Selling goods, which are wrongly described by the manufacturer. * Implied descriptions, e.g. a picture on a box, which gives a false impression. * Other aspects of the goods, including quantity, size, composition, method of manufacture etc. Usually the spoken word of the seller overrides the written description of the goods as the buyer can rely on the expertise of the salesperson. However, this is obviously harder to prove if there is dispute. The consumer credit Act 1974 This is more applicable to Halifax and requires all businesses, which offer credit to have a specific licence otherwise they will be committing an offence. The Act provides for: * Customers who sign credit agreement in their own home to be allowed a cooling off period of five days. During this period the customer can change her mind or cancel the agreement without any penalties. * Customers to demand within 28 days that retailers provide details of the name and address of any credit reference agencies, which have been used to ascertain their credit worthiness. It is an offence for a retailer not to do this. * The credit reference agency to provide full details to the customer if the request is made in writing, and small administration fee is paid. Any incorrect information must be corrected if further information is provided by the customer. * Advertisements offering credit must include the title charge for credit and the APR (annual percentage rate of charge). The Act also restricts the way in which advertisements are worded and the prominence of financial information relating to charges. * Sellers must provide written details of credit terms if requested by the customer in writing or orally, either in person or on the telephone, unless such a quotation has already been provided. The Health and Safety at Work Act 1978 Not only do employees have a right to expect employers to provide a safe, working environment, they also have a responsibility to ensure the Health and Safety for existing and potential customers. The Health and Safety at Work Act requires employees to: * Take reasonable care for the Health and Safety of themselves and others who may be affected by what they do and what they fail to do. * Cooperate with employers in fulfilling their duties for Health and Safety. Employees who fail to comply with health and safety regulations may be prosecuted. The requirements basically mean that employees must not act recklessly at work. They must follow safety procedures. They must take reasonable care in carrying out their duties and employers should fulfil their obligation as prescribed in the Health and Safety at Work Act. The sex discrimination Act 1975 This Act makes it illegal for anyone to be discriminated against on grounds of gender either directly or indirectly. Even if this is done unintentionally, the organisation is still guilty. So Halifax has to comply with the provisions of this Act. Race relations Act The race relation Act is very similar to the sex discrimination Act. It makes it illegal to discriminate in the work place on the grounds of race, colour, nationality or ethnic origin. Disability discrimination Act Under this Act it is illegal to discriminate against a disabled person in the recruitment and selection process, the contract of employment and the conditions of pay, provisions of training and promotion opportunities, treatment with the workplace. Halifax is expected by law to comply with the provisions of the various Acts. The Health and safety Act 1978 affects both the internal and external customers. Implications of not complying with the provisions of the consumer laws or legal requirement are: * Costs: legal costs of going to court and compensation. * Bad reputation: Negative / Bad publicity hence loss of customers leading to the company collapsing. The roles of the employees in providing good customer service Internal customers Halifax has so many different branches throughout the UK. All of these are internal customers to the regional or head office. Staff working for Halifax are the internal customers. Managers in Halifax want to get the most out of your employees. Generally, the better their employees perform the better their department or company will do. Recruiting the right people Recruiting the right staff is a crucial component of creating the workforce profile Halifax needs to achieve its organisational objectives and they take careful planning and consideration to recruit successfully. While Halifax wants staff who can do the job theyre offering and who are interested in it, the crucial factor in choosing the right team is personality. The managers can teach them the job, but they cant teach them how to be the right person! Because managers are responsible for recruitment and selection decisions in Halifax, they are aware that hiring or losing staff can be costly, especially if they get it wrong. Smart appearance of all staff Customers will often assess the quality of Halifax by the appearance of the staff. This has been improved by providing them with uniforms which all of them have to wear and this helps the customers to recognise the members of staff easily. Politeness When employees understand and feel a part of the larger picture they provide better customer service because they feel better about their roles and understand the critical nature of their jobs to the overall success of Halifax. A positive and helpful attitude goes a long way toward having satisfied customers, and is important for a positive environment with co-workers. Employees in Halifax know that they should always be polite to customers and be very helpful. Arriving at work on time Employees make sure that they arrive at work on time because they know that if this is not done, they will lose customers hence loosing profits for they company. When they arrive on time, the branch is also opened on time. Teamwork Teamwork is an important part of building a quality Halifax. Having Halifax work like a team involves getting all of the team members to work together towards one common goal. Teamwork through employee training programs can help Halifax team achieve that goal. Teamwork helps the staff first identify the goal it is working towards, whether thats increasing sales or improving customer service. Once the goals are identified, then they can work on whatever issues may be currently preventing them from achieving those goals. After those issues are addressed, the employees can more effectively work together as a team. Team works can build communication skills and employee motivation. Both of these items contribute to a more successful team and organisation. A successful organisation means more profits, happier employees, and fewer turnovers. The results from a team building exercise can actually help Halifax perform better as a whole. Halifax can benefit by taking time and resources to help their employees achieve their goals by putting them in training program and giving them skills they didnt know they needed. Teamwork is part of an employee development program that can really benefit Halifax. Health and Safety Health and Safety policies are integral in Halifax business operation. They ensure that the law making employers responsible for the health, safety and welfare of all employees at work is followed. They also help employees to understand and accept their responsibility for their personal behaviour at work as it affects their own, and others health and safety. Good Health and Safety procedures ultimately save money and prevent lost time through injury and illness. Because Halifax has more than five employees, they have a written Health and Safety Policy and bring a published Statement to all employees attention. Employees are informed that behaviour against the Health and Safety policy is a disciplinary offence. Part of the Health and Safety procedure is to notify the appropriate enforcing authority for registration, at least one month before servicing starts. Authorities are: * Health and Safety Executive This body, besides providing information for businesses, ensure that Halifax meets the regulated standards for: * Escape routes * Storage of materials * Ventilation * Lighting * Hygiene Carrying out their duties All employees make sure that they carry out their specific duties. Managers should be able to carry out their duties by making sure that employees are happy. They can do this by: Motivation Halifax cannot succeed if their employees are motivated to do a good job. You can motivate employees in any type of work environment. Employee motivation is one of the many keys to Halifaxs success. Employee motivation can be achieved through a variety of ways. Employee training programs can be administered on a regular basis. Making an employee feel like they are an important part of Halifax also increases motivation. Appraisals In Halifax, members of staff are interviewed on a regular basis by their line manager and assessed on their performance. It is also an opportunity to discuss any problems and to determine any training and/ or training needs. Performance may be related to pay or bonuses. Care should be taken not present staff appraisal as a hostile or intimidating ordeal. Praise Managers make sure that they praise their staff when they have done well. This makes them happy and also do their job better because they know that their bosses appreciate. Training Managers in Halifax want to get the most out of your employees. Generally, the better their employees perform the better their department or company will do. In Halifax, it is not always possible to find someone who is perfectly suited to a job, with all the necessary skills and experience. They are likely to need some training. This is made even more likely by the fact that as working conditions change, due to new technology, reorganisation, expansion and so on, staff will need training to be able to meet the new challenges. Managers may also provide staff development to enable them to broaden their existing abilities and experiences and to help them achieve their potential for Halifax building society. Finally, motivated staff, teamwork, etc, ensures that employees are committed to their work. Commitment from and carrying out duties and responsibilities by all employees are the prerequisite for good customer service. Good customer service requires input from all employees, and not to be the duty of frontline staff alone.