Report writing on Communications Problems Free Essays

Nikkei Meta highlighted the small things to be considered while communicating in a group or at personal level such as difference between observation and perception. As the course gradually moved on, professor introduced a case on communication problems in supply chain based industries in which the teams were asked to speak about the case and come to some conclusion. The main part was to present that case in front of the camera. We will write a custom essay sample on Report writing on Communications Problems or any similar topic only for you Order Now My group got the first chance to present the case, and we were fortunate because we got know our natural skills to resent. After the presentation, professor Nikkei Meta, Assistant professor, National Institute of Industrial Engineering, Iambi threw the feedback to us highlighting our shortcomings. Later on we were asked to do the rehearsals as many times as possible before second video recording session. We rehearsed for 12 times to count the time and to check preparation level. Initial days we rehearsed for 60 minutes. As days were passing we had increased the duration of the speech from 60 seconds to 75 seconds,75 seconds to 90 seconds and later moved to 90 seconds to 120 seconds. We have filled the public speaking rubric form once in every alternative days when we had finished our practice. During rehearsals initially I thought my problem was speech appendages. But after rehearsals I found out the real weaknesses other than fillers which are long pauses, lower confidence levels in public speaking, nervousness. With the advice of team members worked on my weaknesses and reduced some of the mistakes through continuous rehearsals. It helped to improve my confidence levels , how to make draft so that long pause weakness can be minimized. In addition to that I improved my interpersonal skills. Later on we were asked to present the same case in front of camera to capture our improvements, preparation, and team coordination. To capitalize this opportunity, we followed a simple methodology. Before going for recording, we rehearsed for 3 times to count the time and to check preparation level. Also we could find the mistakes at the time of rehearsal only which benefited us not repeating the same while recording. We could observe the body language of each other and suggest improvements. Once we had done with our recording, it was shown in the class. Professor critically examined y moments in the presentation with our natural response. He commented on our individual performance as well as entire team highlighting the hand movements, voice modulation, rush delivery, etc. For further improvements sir gave us one more chance for recording. This time, we gone more prepared and we were more confident. For the second time, recording process was much smoother as compared to first time. We analyzed the second recording in a group and compared it against first recording. We could notice many improvements over the last recording on which we worked regularly, but still there is scope for improvements for each one of us. How to cite Report writing on Communications Problems, Papers

Lifestyle or Lifecycle Funds and Law †Free Samples to Students

Question: Discuss about the Lifestyle or Lifecycle Funds. Answer: Introduction: A permanent resident is allowed to work in his residential country, but cannot get a job from the government. Permanent resident and citizen are two terms that differentiates the status of a person in a country he or she lives. The difference between these two terms is under the privileges aligned to each. A permanent resident is not allowed to vote during general elections (McMillan, 2017). Other than that, a permanent resident can be deported if he or she commits a serious offense such as terrorism as prohibited in the law. When a person is guilty of committing such grave crimes, they will serve prison (Miller, 2015). On the other hand, it is also possible that the permanent resident status might be stripped off and be deported back to his or her original country. In other words, An Australian permanent resident is a person who can live and work in Australia, and is a holder of a permanent residency visa but is not the citizen of Australia. Consequently, if a person comes from another country and wants to become a citizen, then he has to take a loyalty oath to the country he moved to when he finally applies for citizenship after a certain period. According to Australia, this period is four years while in other countries such as U.S. and Canada it is three years. Additionally, coming to the individual rights and privileges, a citizen has a right to vote in the general election (McMillan, 2017). A citizen can work in any department so long as he has the qualifications. It implies that he can work in a government office. Therefore, in reference to Kit's scenario based on the above clarifications, he is a resident. He can only be allowed to work and live in Australia but he cannot vote in the general election or work in any position in the government. It is because he lacks the privileges of a citizen. On the other hand, he has stayed in Australia for the last four years but he has not applied for citizenship that could make him become a citizen under naturalization Law (McMillan, 2017). Naturalization is a legal process that allows a non-citizen of a country to acquire citizenship. Naturalization can be done in two ways: (1) it can be done by passing a statute that does not require individuals efforts of the applicant for the citizenship to get approved by the legal authorities. The necessary requirement of the naturalization depends on minimum legal residency, which in this case is four years according to Citizenship Act 2007 (McMillan, 2017). Other requirements may include things such as knowledge of the dominant language and culture and promising to obey and follow the rules that country. (2) Naturalization can be done based on whether the country allows dual citizenship or not. If the country accepts a single citizenship, then the permanent resident will lose his original citizenship after applying for the new one. But because Australia allows dual citizenship, and being that Kit and his family have met the minimum legal residency, it means that he can now apply for the citizenship for his family. Besides, if his children are aged below 16 years, then they can be included on the parent's application. Taxation of Kits Salary and Investments When it comes to taxation of a permanent resident, the Australian government tax each and every income received by a resident from any part of the world. However, it is subjected to certain concessions and exemptions. On the other hand, foreign assets, for example, the ones that Kit and his wife have in Chile are taxable in Australia with an offset allowed for any foreign taxes paid by the permanent resident. Additionally, dividends received from Australia and from foreign investments are combined in assessable income. However, being that dividend income from abroad investment is also taxed in a foreign country, there could be a foreign income tax offset. Moreover, Australian statute has got various attribution regulations that aim to tax residents on gains and income that have accumulated in foreign investments, even though there is no actual distribution of gains or income received by the resident. These regulations are referred as the Controlled Foreign Company and Transferor Rules (Manyam, 2011). Simply, these attribution regulations stop resident investors from deferring tax by accruing income derived through controlling and non-controlling benefits in foreign countries. Other than that, interest offshore from bank bonds, deposits among other fixed interest securities will be taxed according to Australian Law. The taxation is based on the employment income, rental income, Australia pensions and amenities, and capital gains on Australia assets. Because Kit is an Australian permanent resident, he will have to pay residency for tax purposes. It is because he is working and living and has taken steps to make Australia his residence by purchasing a home. Moreover, the incomes Kit and his wife receive from their investments from Chile are also taxed because the taxation rule in Australia is that they tax all the income of a resident from any part of the world. Additionally, dividends received from Australia and the foreign investments are combined in assessable income (Okunev, 2014). However, being that the family is receiving interest income from their investments in Chile from which they are taxed by Chilean government, there could be a foreign income tax offset by the Australian government due to double taxation. To conclude with, if an individual from foreign country becomes a resident of Au stralia, all of his capital investments at that point in time becomes subject to the Australian capital gains tax system (Okunev, 2014). The case between Californian Copper Syndicate Ltd v Harris (Surveyor of Taxes) is about taxation of business income. There were two questions that arose: The first was about how to define boundaries of the business activity, and the second was how to determine whether a specific gain comes within the realm of business. The case showed that the plaintiff intention was to invest long-term that was found to be inconsistent with the reason of acquiring the shares to provide cash for insurance division. The court held that all the evidence showed that Westpac Management being the fund manager had been directed to attain and manage so that to achieve the aim of long-term capital growth. Judge Williams J. of the Court of appeal made the following judgment. He said that the appeal was between the Scottish Australian Mining Co. Ltd. as per the Income Tax Assessment Act from the verdict made by the Board of review declining to uphold the corporation objections to getting assessed by its correspondent for income tax for the four accounting years. Judge Williams decided that the question of Law was not involved in the decision of the Board, and for that reason the Federal Court has no jurisdiction to consider the appeal ("BarNet Jade - Find recent Australian legal decisions, judgments, case summaries for legal professionals (Judgments And Decisions Enhanced)", 2007). A group of fishermen owned beachfront shacks in Western Australia and in 1954; they agreed to form a company. They bought 1584 acres of land with an aim of ensuring that they will always access their beachfront shacks. Over ten years later they sold all their shares to other three development companies. The companies wanted to subdivide and resale the land, but they realized that direct purchase of the land would attract taxation under sec 25(1) of the ITAA36 because their intention was to make a profit. So they decided to buy the shares in the company for them to argue that the sale was a simple realization of a capital asset, which is not taxed under the Law. They acquired shares, altered the articles and sold the land in portions within four years and obtained $7 million ("ATO ID 2002/483 (Withdrawn) - Loss from isolated sale of property", 2008). The court decided that the profits were assessable as the acquisition of the original company by the new owners with an aim of making pr ofit meant that the corporation had changed so the land improvement was a trade. Statham Anor v FC of T 89 ATC 4070 In this case, the trustees of the deceased estate were the taxpayers. The deceased had acquired the land with an intention of raising a family and to use some parts for farming. A few years later, the deceased sold half of the land to a company that was controlled by members of the family. The new owners got into a partnership to raise cattle, but they did not perform well and decided to sell the land. The deceased passed on at the time the subdivided portions were being sold and some were sold after his death. The Commissioner argued that land divisions were assessable income, but the court stand was that the profits were not the ordinary benefits because the activities of the partners showed that the owners were not engaging in profit-making business ("ATO ID 2002/483 (Withdrawn) - Loss from isolated sale of property", 2008). In this case, the taxpayer got the farming land from his father and used it for production business for 20 years. But, due to sickness and growing of debt, he decided to subdivide the land and sold a larger portion. He subdivided them into eight portions over a period of 18 years and constructed various infrastructures such as roads, water, sewerage, and fences as parts on the partitions of the land. The Commissioner challenged that the benefits from the sale of each partition were ordinary income; hence, assessable on the grounds that he was running a business of land subdivision ("ATO ID 2002/273 (Withdrawn) - Sale of subdivided farmland - Income or capital gain?", 2004). Conversely, on the appeal, the federal court stand was that the profits from the partitions were the realization of the profits and the taxpayer was not running the business of land partitions. Moana Sand Pty Ltd v FC of T 88 ATC 4897 In this case, a company obtained land in Adelaide. The company acquired the land with an intention of carrying the business of selling sand and operational. When the company received the government application that they wish to do mining on the land, the taxpayer rejected the application through letters in which he stated that the land was be subdivided into building portions. When taxpayer acquired to know about the future of land subdivisions, he realized that the land had been rezoned as rural and the government intends to preserve it. Finally, the government took the land at $500,000 that was paid in two installments ("ATO ID 2002/483 (Withdrawn) - Loss from isolated sale of property", 2008). The court decision was that the amount received by the taxpayer for the land was an ordinary income because it represented the initial intention of the taxpayer to sell sand and at a later day sell the land for profit. In this case, the taxpayer got a loan to buy five blocks of land for a period of ten years. For some time, the land got used for crops farming and grazing purpose, but eventually, it was partitioned. After two years and other years that followed, the taxpayer sold fifty-one blocks making a net profit of $388,288 ("ATO ID 2002/273 (Withdrawn) - Sale of subdivided farm land - Income or capital gain?", 2010). The court ruled that the taxpayer was quantifiable on the benefits as he was operating a business of land development. However, the court recognized that there was a period at the beginning where the land was being used for farming and found that there was enough evidence that taxpayer knew at the beginning, due to the size of the loan he acquired, that at some point he would have to sell some of the lands. McCurry Anor v FC of T 98 ATC 4487 In this case, the taxpayers bought land with an old house build on it. They removed the house and replaced it with three new townhouses. They advertised had advertised their sales before completion but the sale was unsuccessful. They moved into the two of the houses and stayed for one year and sold the one year later making profit of an average of $150,000. After some time they purchased another block of land where they build houses then sold ("ATO ID 2002/483 (Withdrawn) - Loss from isolated sale of property", 2008). The court decided that the sale of the townhouses was ordinary income because they obtained the land for business purposes with a view of obtaining profit. References ATO ID 2002/483 (Withdrawn) - Loss from isolated sale of property. (2008). Law.ato.gov.au. Retrieved 2 May 2017, from https://law.ato.gov.au/atolaw/view.htm?docid=AID/AID2002483/00001 ATO ID 2002/273 (Withdrawn) - Sale of subdivided farm land - Income or capital gain?. (2004). Law.ato.gov.au. Retrieved 2 May 2017, from https://law.ato.gov.au/atolaw/view.htm?docid=AID/AID2002273/00001 BarNet Jade - Find recent Australian legal decisions, judgments, case summaries for legal professionals (Judgments And Decisions Enhanced). (2007). Jade.io. Retrieved 2 May 2017, from https://jade.io/article/64663 Collins, P., Earl, D., Redenbach, G. (2009). foreign source income reforms. Legal database - View: ATO Interpretative Decisions: ATO ID 2001/55 (Withdrawn). (2010). Ato.gov.au. Retrieved 2 May 2017, from https://www.ato.gov.au/law/view/document?docid=AID/AID200155/00001 Manyam, J. (2011). Taxation of Gains from Banking and Insurance Businesses in New Zealand. Revenue Law Journal, 1-31. McMillan, K. (2017). Affective integration and access to the rights of permanent residency: New Zealanders resident in Australia post-2001. Ethnicities, 17(1), 103-127. Miller, M. J. (2015). Treaties. International Tax Journal, 41(4), 11-14. Okunev, J. (2014). Lifestyle or Lifecycle Funds Are They the Answer to Retirement Wealth Creation?. The Journal Of Investing, 141114200145002. https://dx.doi.org/10.3905/joi.2014.2014.1.039 TR 2007/8 - Income tax: registered agricultural managed investment schemes. (2004). Law.ato.gov.au. Retrieved 2 May 2017, from https://law.ato.gov.au/atolaw/view.htm?docid=TXR/TR20078/NAT/ATO/00001

The Role of Spirituality in Overcoming Addictions

Addiction can simply be defined as a state of being captive or enslaved towards doing something that leads to development of a habit or certain behavior of which to some extend one has no control over. Surely, addiction comes with strong feelings of attachment and desire for something or to certain specific behaviors. Every human being to some extend has a form of addiction which may range from trivial to life-threatening forms.Advertising We will write a custom essay sample on The Role of Spirituality in Overcoming Addictions specifically for you for only $16.05 $11/page Learn More They may either be psychological, neurological or even spiritual. These addictions act as a driving force from within that tends to enslave and abuse our freedom, hence one ends up acting in a manner that is contrast to what he or she would wish to. As it has been deduced, addiction can really take charge of someone‘s life to the extend of being life threatening. When i t gets to such extend, quick measures should be taken before the situation gets out of hand. Documented research has shown that in the same way one gets addicted to alcohol, nicotine, cocaine, one can get addicted to ideas, power, relationships, religion (May, 1988). If one gets obsessed with a certain idea or even with another person and cannot control the feelings or thoughts, has been enslaved and hence addicted. One can also be spiritually addicted in the sense that he or she is entangled by the doctrines and can not have an independent thought or think logically outside the governing doctrines and law hence obsessed by the religion and considered as an addict. Addiction can be perceived from different angles, addiction of the mind, body or spirit depending on the prevailing situation that leads to the addiction (May, 1988). Some of the substances, drugs and behaviors that one can get addicted to include alcohol, cocaine, nicotine for example cigarette, sleeping pills, marijuana , caffeine, aerosols. Behavioral addictions may include computer games, gambling, overeating, love for money, power, sexual addiction, relationships or even ideas. There are signs and symptoms that come with various addictions and could be used to detect development of addictive behaviors. Some of the symptoms to checkout for include: tendency to do something repeatedly over and over again so as to obtain pleasure, when the individual stops using the substance they tend to feel uncomfortable and unsatisfied with a sense of lacking something vital. Another symptom is having difficulties in controlling and managing oneself and spending most of your time to acquire the substance or indulging in certain activities. Signs of addiction are the outward expressions that emanates from the addictive substance or behavior that one has.Advertising Looking for essay on psychology? Let's see if we can help you! Get your first paper with 15% OFF Learn More These signs are not univers al, they may differ from one individual to another. Some of the major signs of addictions include mood swing where one tends to be anxious and at times relaxed; happy at one time then sad the next moment, changes in the size of the eyes and the pupils, tendency to over sleep, sudden weight loss or gain, change of friends, becoming confined and secretive. These and other signs can act as perfect indicators of individuals under the influence of drug and substance abuse. Human beings were never created to be fully satisfied. There is always a desire to have more and more. There is a need to have self control and know your boundaries and limits so as to avoid going overboard and becoming victims of addiction. Most of the things that chain and enslave us in life are mostly our own makings. We have come up with our own ideologies and objects that we worship and attach strong emotions and feelings on them, this has made mankind to drift away from God’s love and the love for one anot her and end up investing all the time in finding pleasure and satisfaction from drugs, addictive substances and behaviors which ends up eroding our dignity and scrapping away our freedom by enslaving us (May, 1988). It is through the harsh life and bondage that comes with addiction that leads one to learn and appreciate the peace of mind and freedom that God has bestowed on us. It enables us appreciate the grace of God which is a freely earned favor emanating from God’s loving nature upon mankind. To overcome these addictions, spirituality plays a very vital role. It comes from the believe and faith that we have in a supernatural being who is able to restore the dignity and peace that we have lost in the course of satisfying our humanly pleasures and needs. The faith and trust that we have in God is able to redeem and save one from the jaws of addiction. Though there are many ways to deal with addiction like seeking for counseling and advice from professionals, going to the r ehabilitation centre, joining help groups, having treatment program, it all boils down to you as an individual and your relationship with God and other people that you associate with. If one can amend these relationships then they are on the right lane towards attaining self freedom, redemption and control of their lives. Through salvation which according to Greece or Latin means safety, one is made whole in Christ Jesus that is according to Christians, hence they become new creatures. With this faith, one is able to overcome any kind of oppression and slavery. Also getting involved with the right group of people with upright morals and who believe in God can help one change their bad habits and addictive behaviors.Advertising We will write a custom essay sample on The Role of Spirituality in Overcoming Addictions specifically for you for only $16.05 $11/page Learn More Spirituality aids in promoting and upholding integrity and good moral values that ma y enable us shade away bad addictive behaviors and lead straight forward life, again we may have the will to do that which is good but the power to do it is not in us, so we ought to acknowledge God who is the giver of all powers and whose grace is sufficient to keep us safe from any kind of bondage and slavery. In conclusion, addiction can be regarded as bondages that are of our own making and that are basically out of our control hence to sufficiently deal with any kind of addiction one has to submit to an external source of power that comes from God and through His grace that He has freely outpoured upon those who call on Him and follow His laws and commandments. God’s grace is the ultimate hope and solution to the countless oppression and addictions facing mankind in the current times, hence there is hope for those who have been entangled by their own desires that have ended up being their worst enemies. Through grace has humankind found peace and satisfaction, for the he art of men will forever be restless until it finds rest in God. Reference List May, G. G. (1988). Addiction and grace: Love and spirituality in the healing of  addictions. New York, NY: HarperCollins Publishers. This essay on The Role of Spirituality in Overcoming Addictions was written and submitted by user Johnathan Knight to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Free Essays on Greek Play

A Greek’s Talent To be a writer is no easy task. Writing takes a lot of time and creativity. Even for someone to sit down and write, they never compose a masterpiece right from the start. Yet when you look at the Greek classics, you are mesmerized by the author’s ability to make it look so easy. It looks as if they were able to compose literary classics overnight. As if their mind never stops to pause but keeps on creating. Sophocles has it and Aristophanes has it, though both had it on different plans of writing Greeks literary masterpieces. To be a writer of Greek stories, plays you cannot lack, cannot be a second rate writer. Now a-days the entertainment business puts out anything; B-rated movies get produced and showed every week it seems. In Ancient Greeks B-rated plays would never get put on the stage, it would be sacrilegious to deem such a suggestion. If you did not have a top-notch play then your story did not reach the theater. If you did not win a bard you were seen as any thing but great, and anything less than great did not cut it. Greek writers of tragedy and comedy paved the road of greatness that is used down through the ages from such writers as Shakespeare. It takes talent to write such works of art; in this paper you are going to see two great authors contrive two great aspects of Greek writings; characteristics of a Greek tragedy featured in Sophocles Oedipus the King, and a Greek Comedy shown in Aristophanes’ Lysistrata.... Free Essays on Greek Play Free Essays on Greek Play A Greek’s Talent To be a writer is no easy task. Writing takes a lot of time and creativity. Even for someone to sit down and write, they never compose a masterpiece right from the start. Yet when you look at the Greek classics, you are mesmerized by the author’s ability to make it look so easy. It looks as if they were able to compose literary classics overnight. As if their mind never stops to pause but keeps on creating. Sophocles has it and Aristophanes has it, though both had it on different plans of writing Greeks literary masterpieces. To be a writer of Greek stories, plays you cannot lack, cannot be a second rate writer. Now a-days the entertainment business puts out anything; B-rated movies get produced and showed every week it seems. In Ancient Greeks B-rated plays would never get put on the stage, it would be sacrilegious to deem such a suggestion. If you did not have a top-notch play then your story did not reach the theater. If you did not win a bard you were seen as any thing but great, and anything less than great did not cut it. Greek writers of tragedy and comedy paved the road of greatness that is used down through the ages from such writers as Shakespeare. It takes talent to write such works of art; in this paper you are going to see two great authors contrive two great aspects of Greek writings; characteristics of a Greek tragedy featured in Sophocles Oedipus the King, and a Greek Comedy shown in Aristophanes’ Lysistrata....

Animated cartoons for early childhood science education

Animated cartoons for early childhood science education Teachers teaching methods change because of the new generation of children. For this reason, teachers should use contemporary teaching methods for improving the quality of learning. In this framework teaching innovations which can meet such expectations are needed. This paper is a report of work describing curriculum which involves cartoons as a basis for teaching science. Here we can picture young pupils gaining knowledge through texts, teacher lectures and cartoons. It is important to realize that one of the reasons why science is thought to be difficult by many students in elementary education is that it is viewed as dealing with concepts which are often difficult to be explained and understood. Some students feel that they have to learn a lot of theory without considering how this theory might apply to the real world they are living in. This study represents findings on the use of animated cartoons and how they are able to evaluate the effectiveness in supporting teaching and le arning in science. The research results provide evidence that the use of animated cartoons significantly increases the young students` knowledge and understanding of specific science concepts. The importance of cartoons in science education has been recognized in recent years as they received an increasing amount of research attention. The presentation of ideas in visual form has been proven to be particularly important as it helps the educational process in a very up-to-date way. Why are cartoons so popular among young children and how can they be used for the purposes of teaching as well as learning? Research evidence indicates that cartoons are widely used as innovative and supporting tools in science teaching. Actually, they represent a form of art that has been promoted into an important visual language, which influences the human feelings and transmit messages using symbols and pictures. They are a combination of humour , exaggeration and symbols but in a very simple way. Euli e/1969/ pointed out very successfully that cartons, contain messages and when they are selected carefully, they can easily provide information via the symbols and the exaggeration. Most important is that they use familiar pictures and objects from daily life. In addition, cartoons can be used effectively in the teaching process when they provide information with regard to concrete objects. They were used by many researches in the classroom in order to promote learning, esp. in teaching children./Madden,Chung$Dawson,2008;Peacock,1995;Tsou,Wang&Tzeng,2006/. More over, the most innovative use in the instructive practice is that they easily capture students’ attention and then they allow them to’ travel with their mind ‘in the world of imagination and amusement while they are learning. Not surprisingly, cartoons have rapidly become a popular teaching and learning approach. Keogh and Naylor /1999/ ,he creators of the ‘concept cartoon strategy, have used it incre asingly in both primary and secondary education. . Concept cartoons offer an innovative approach to gaining access to children’s ideas in science. They have been used in different ways and in different situations to teach science, to assess pupils’ levels of understanding of science matters and to involve them in scientific discussion as well as to promote children’ s argumentation in primary science /Naylor,Keogh and Downing,2007/.

Foundation Business Management Essay Example | Topics and Well Written Essays - 1250 words

Foundation Business Management - Essay Example This paper briefly analyses the management model, structure and culture in three different companies; Microsoft, Apple and Coca Cola and the impact of these management styles on the employees. Microsoft does not need an introduction in the world because of its established monopoly in software industries and computer world. Founded in 1981, controlled by Bill Gates and his team, Microsoft has become one of the all time best companies in the world at present. Microsoft is not following any conventional models of management. In fact they don’t have even a president or CEO. Jung (2003) has mentioned that all the Microsoft operations are controlled by eight chief financial officers. The companys seven business units are: Client, which includes its Windows operating system; Information Worker, including Office business software applications; Server Platforms, for server software; Home and Entertainment, including Xbox video-game consoles and the Xbox Live online gaming service; MSN, its Internet service; Business Solutions, including software for small and medium sized businesses; and CE/Mobility, including software for wireless phones and mobile devices (Jung). Microsoft has divided its entire business portfolios into seven different categories and named a head for each category. The above strategy helped them to manage each areas of their business more effectively because of the different heads at the top of different units instead of a single head at the top of the organization. The unit heads need to concentrate only on their units and hence their workloads are comparatively less when we compare other organizations with a single CEO at the top. Employee-employer relations in Microsoft not seem to be in a good shape at present because of the recession problems. Salary reduction, termination of jobs, temporary layoffs etc are common nowadays in Microsoft because of the

Relationship banking Essay Example | Topics and Well Written Essays - 1500 words

Relationship banking - Essay Example Sale of banking products has become extremely competitive. This paper will discuss how relationship marketing has penetrated the banking sector and what are its pitfalls or benefits. It will also discuss the type of relationship that banks have with customers and what marketing activities it performs to establish and maintain such relationships. Banks have adopted the concepts of marketing in the highly competitive market as the consumers have become highly literate and empowered. Customers are increasingly using technology for using banking services, and hence the bank-customer relationship have become of great importance. To stimulate the improvement in the quality of service from the banks, deregulation brought in a range of suppliers in the financial services (Durkin & Howcroft, 2003). Because of the pressure on the bank margins from new competitors, banks have had to reengineer their internal and external delivery process to make profits. Technology is used to increase market share and reduce costs. Banks have been forced to consider this because in the new and emerging delivery channels the bank-customer interactions do not involve face to face contact. Relationship marketing (RM) means to identify, establish, maintain and enhance, and when necessary even to terminate relationships with customers and other stakeholders. In doing do both parties gain and the objectives have been met (Durkin & Howcorft, 2003). This conforms to Gummesson’s concept of relationship marketing. Thus it involves mutual satisfaction, gains and attainment of objectives. In RM the customer is treated as a partner and their needs are identified, and loyalty developed through quality service (Fjà ¤llborg, Morin, Mannberg, Rosell & Heckscher, 2005). Relationship between the buyer and seller differs across industries and firms and customer service forms the core of RM. Effective customer service creates