Creating Customer Value: General Concept Questions

Chapter 5: Creating Customer Value, Satisfaction, and Loyalty GENERAL CONCEPT QUESTIONS Multiple Choice 1. ________ are adept at building customer relationships, not just products; they are skilled in market engineering, not just product engineering. a. Profit-centered companies b. Customer-centered companies c. Production-centered companies d. Sales-centered companies e. Promotion-centered companies Answer: bPage: 119Difficulty: EasyAACSB: Reflective Thinking 2. The opening vignette on Ritz-Carlton shows that successful marketers are the ones that fully ________. a. understand promotional strategy b. diversify their product line . divorce themselves from a production mentality d. satisfy their customers profitably e. understand the sales concept Answer: dPage: 120Difficulty: Medium AACSB: Reflective Thinking 3. In the modern customer-oriented organizational chart, which of the following is considered to be at the top of the organizational pyramid? a. Sales b. The president c. Front-line people d. Customers e. Middle management Answer: dPage: 121Difficulty: Medium 4. ________ is the difference between the prospective customer’s evaluation of all the benefits and all the costs of an offering and the perceived alternatives. a. Perceived usefulness . Failure avoidance rate c. Report rating d. Customer-perceived value e. Competitors’ market share rate Answer: dPage: 121Difficulty: Medium AACSB: Analytic Skills 5. Total customer benefit is the perceived monetary value of the bundle of economic, functional, and ________ benefits customers expect from a given market offering. a. psychological b. intangible c. realized d. fabricated e. advertised Answer: aPage: 121Difficulty: HardAACSB: Analytic Skills 6. The bundle of costs customers expect to incur in evaluating, obtaining, using, and disposing of the given market offering is called the ________. a. rganizational expense ratio b. shopper’s fatigue c. total customer cost d. analysis paralysis e. comparison shopping to comparison buying ratio Answer: cPage: 121Difficulty: MediumAACSB: Analytic Skills 7. In applying a customer’s perceived value to a decision, a seller who is at a disadvantage with respect to customer-perceived value has two alternatives: to increase total customer benefit or ________. a. increase a cash-back bonus b. decrease total customer cost c. lose the sale to the competitor d. advertise more frequently e. offer an extended warranty Answer: bPage: 123Difficulty: MediumAACSB: Analytic Skills 8. The final step of customer value analysis is to ________. a. identify the major attributes and benefits that customers value b. assess the company’s and competitors’ performances on the different customer values against their rated importance c. examine how customers in a specific segment rate the company’s performance against a specific major competitor on an individual attribute or benefit basis d. monitor customer values over time e. assess the quantitative importance of the different attributes and benefits Answer: dPage: 122Difficulty: Medium 9.The ________ consists of the whole cluster of benefits the company promises to deliver; it is more than the core positioning of the offering. a. customer promise b. mission statement c. corporate pledge d. corporate-perceived value e. value proposition Answer: ePage: 123Difficulty: MediumAACSB: Analytic Skills 10. A company’s ________ includes all the experiences the customer will have on the way to obtaining and using the offering. a. value proposition b. value delivery system c. customer-value analysis d. total customer benefit e. total customer cost Answer: bPage: 123Difficulty: EasyAACSB: Analytic Skills 11. Total customer satisfaction is measured based on the relationship of ________. a. anticipated and real performance b. perceived performance and expectation c. advertised outcomes and real outcomes d. past experience and present experience e. customer attitude and salesperson’s attitude Answer: bPage: 124Difficulty: HardAACSB: Reflective Thinking 12. The ultimate goal of the customer-centered firm is ________. a. high customer satisfaction b. high profits c. low costs d. maximum stakeholder satisfaction e. none of the above Answer: ePages: 124–125Difficulty: HardAACSB: Reflective Thinking 13.Buyers form their expectations from all of the following EXCEPT ________. a. past buying experience b. friends and associates advice c. marketers’ information d. competitors’ information e. governmental newsletters Answer: ePage: 125Difficulty: EasyAACSB: Analytic Skills 14. A customer’s decision to be loyal or to defect is the sum of many small encounters with the company. In order for all these small encounters to add up to customer loyalty, many companies, such as Joie de Vivre Hospitality, strive to create ________. a. a reward program b. a comprehensive customer database c. a branded customer experience . strong word-of-mouth promotions e. a top-notch advertising campaign Answer: cPage: 125Difficulty: HardAACSB: Reflective Thinking 15. One key to customer retention is ________. It would be wise for a company to measure this factor frequently. a. heavy promotion b. deep discounts for intermediaries c. to have an ethics officer d. customer satisfaction e. to have customers on the board of directors Answer: dPage: 125Difficulty: MediumAACSB: Reflective Thinking 16. ________ can track customer satisfaction directly and also gauge consumers’ willingness to recommend the company and brand to others. . Periodic surveys b. Mystery shoppers c. Customer loss rates d. Customer focus statements e. All of the above Answer: aPage: 126Difficulty: Medium AACSB: Analytic Skills 17. Studies of customer dissatisfaction show that customers are dissatisfied with their purchases about 25% of the time, but only about ________ complain. a. 1% b. 5% c. 10% d. 15% e. 20% Answer: bPage: 128Difficulty: Hard 18. Of customers who register a complaint, ________. a. the majority will do business with the company again because they are unwilling to dedicate the effort required to find another vendor b. one will do business with the company again c. customers whose complaints are satisfactorily resolved spread more word of mouth than those who continue to be dissatisfied d. the speed of resolution has no impact on the likelihood of repeat business e. between approximately half and three-quarters will do business with the company again if their complaint is resolved Answer: ePage: 129Difficulty: Hard 19. ________ is the totality of features and characteristics of a product or service that bear on its ability to satisfy stated or implied needs. a. Performance b. Value c. Quality d. Customer retention e. Ð ¡ustomer loyalty Answer: cPage: 129Difficulty: EasyAACSB: Analytic Skills20. Total quality is the key to value creation and customer satisfaction. A marketing manager has several roles to play in a quality-centered company, including ________. a. participating in cross-functional team building b. correctly identifying customers’ needs and requirements c. ensuring costs are adequately controlled during order fulfillment d. setting expectations both internally and externally e. working closely with the sales team to create a dynamic sales message Answer: bPage: 130Difficulty: HardAACSB: Analytic Skills21. The 20–80 rule reflects the idea that ________. a. the top 20% of customers often generate 80% of the company’s profits b. the top 20% of customers are highl y satisfied and 80% of customers will recommend the company to a friend c. 20% of customers are unprofitable, and 80% make up a company’s profits d. 20% of the company’s profits are generated by the top 80% of customers e. any new product offering will be accepted by 20% of the customers immediately, but 80% of the customers will be up for grabs throughout the product’s life cycle Answer: aPage: 130Difficulty: HardAACSB: Analytic Skills22. Most companies have learned that the ________ are often the most profitable because of service expectations and their willingness to pay almost full price. a. large-size customers b. midsize customers c. small-size customers d. niche customers e. target market customers Answer: bPage: 130Difficulty: Medium23. A(n) ________ customer is a person, household, or company that over time yields a revenue stream that exceeds by an acceptable amount the company’s cost stream of attracting, selling, and servicing that customer. a . profitable b. semiprofitable c. unprofitable d. niche e. target Answer: aPages: 130–131Difficulty: EasyAACSB: Analytic Skills24. Customer profitability analysis (CPA) is best conducted with the tools of an accounting technique called ________. a. input-output analysis b. factor analysis c. revenue-based costing (RBC) d. activity-based costing (ABC) e. future date costing (FDC) Answer: dPage: 131Difficulty: MediumAACSB: Reflective Thinking25. ________ describes the net present value of the stream of future profits expected over the customer’s lifetime purchases. a. Activity-based costing b. Customer profitability analysis c. Customer value analysis . Customer-perceived value e. Customer lifetime value Answer: ePage: 132Difficulty: Medium AACSB: Analytic Skills26. The aim of customer relationship management (CRM) is to produce high customer ________. a. value b. loyalty c. profitability d. satisfaction e. equity Answer: bPage: 133Difficulty: Medium27. A customer touch point in the airline industry would include an item such as ________. a. reservations b. mechanics’ ability to service the airplanes c. ease of access to the airport d. the value of air travel versus surface transportation e. competency of a travel agent Answer: aPage: 133Difficulty: MediumAACSB: Reflective Thinking28. Customer relationship management enables companies to provide excellent real-time customer service through the effective use of _______. a. reports from mystery shoppers b. survey data from customers who have defected c. market research into overall consumption trends d. individual account information e. demographic trend data Answer: dPage: 135Difficulty: HardAACSB: Reflective Thinking29. All of the following would be among the Peppers and Rogers’s four-step framework for one-to-one marketing that can be adapted to CRM marketing EXCEPT ________. . customizing products, services, and messages to each customer b. interacting with individual customers to l earn their needs c. always offering the lowest price d. differentiating customers in terms of their needs and value to the company e. identifying your prospects and customers Answer: cPage: 135Difficulty: HardAACSB: Analytic Skills30. Winning companies improve the value of their customer base by excelling at each of the following strategies EXCEPT ________. a. retaining all customers regardless of profitability b. reducing the rate of customer defection c. ncreasing the longevity of the customer relationship d. making low-profit customers more profitable or terminating them e. focusing disproportionate efforts on high-value customers Answer: aPage: 136Difficulty: MediumAACSB: Reflective Thinking31. Harley-Davidson sells more than motorcycles and accessories. Its dealerships also sell branded clothing and licensed goods. This expansion of dealership sales offerings is an attempt to increase the value of the customer base by ________. a. reducing the rate of customer defection b. incr easing the longevity of the customer relationship . enhancing the growth potential of each customer through cross-selling d. making low-profit customers more profitable e. terminating low-profit customers Answer: cPage: 136Difficulty: Medium AACSB: Reflective Thinking32. Although actual costs vary from business to business depending on the complexity of the sales process, the most expensive customer acquisition method based on cost per solicitation is ________. a. personal selling b. direct mail c. telemarketing d. banner advertisements e. e-mail Answer: aPage: 137Difficulty: MediumAACSB: Analytic Skills33.Another term for high customer ________ is customer churn. a. retention b. defection c. value d. perception e. belief Answer: bPage: 137Difficulty: EasyAACSB: Analytic Skills34. People with the motivation, ability, and opportunity to make a purchase are known as ________. a. potentials b. advocates c. members d. prospects e. partners Answer: dPage: 137Difficulty: Medium AACSB: Ana lytic Skills35. Customers who enthusiastically recommend the company and its products and services to others are known as ________. a. potentials b. advocates c. members d. prospects e. partners Answer: bPage: 137Difficulty: Medium AACSB: Analytic Skills36. Satisfied customers constitute the company’s ________. a. customer relationship capital b. customer churn c. prospects d. high-value customers e. customer touch points Answer: aPage: 138Difficulty: Medium37. Acquiring new customers can cost ________ times more than satisfying and retaining current customers. a. two b. three c. five d. seven e. 10 Answer: cPage: 138Difficulty: Hard38. All of the following are methods to form strong customer bonds EXCEPT ________. a. creating superior products, services, and experiences for the target market b. aking it easy for customers to reach the appropriate company personnel and express their needs, perceptions, and complaints c. organizing and making accessible a database of informati on on individual customer needs, preferences, contacts, purchase frequency, and satisfaction d. running award programs recognizing outstanding employees e. concentrating the planning and management of the customer satisfaction and retention process within the marketing department Answer: ePage: 138Difficulty: HardAACSB: Reflective Thinking39. When companies provide rewards to customers who buy frequently and in ubstantial amounts, this is referred to as ________. a. benefit programs b. frequency programs c. satisfaction programs d. loyalty programs e. quality programs Answer: bPage: 139Difficulty: EasyAACSB: Analytic Skills40. Typically, ________ gains the most benefit from introducing a frequency program. a. the first company to introduce a frequency program in an industry b. the fast follower, who is second to introduce a frequency program in an industry, c. the industry sales leader d. the niche player in the industry e. the low-cost leader in the industry Answer: aPage: 140Diffi culty: MediumAACSB: Reflective Thinking41. All of the following are CRM imperatives EXCEPT ________. a. acquiring the right customer b. crafting the right value proposition c. instituting the best processes d. motivating employees e. learning to make profits through marginal customers Answer: ePage: 141Difficulty: HardAACSB: Analytic Skills42. CRM technology can help motivate employees by ________. a. analyzing customer revenue and cost data to identify current and future high-value customers b. better targeting the company’s direct marketing efforts c. racking customer-service satisfaction levels d. aligning employee incentives and metrics e. developing new pricing models Answer: dPage: 141Difficulty: Hard AACSB: Reflective Thinking43. According to Stanford’s business guru Jeffery Pfeffer, â€Å"the best companies build cultures in which frontline people ________. † a. can refer serious problems to senior management b. have strictly limited freedom to deviate f rom standard operating procedures c. are also consumers of the company’s products d. are empowered to do what’s needed to take care of the customer e. ive in the communities they serve Answer: dPage: 142Difficulty: Medium AACSB: Reflective Thinking44. An organized collection of comprehensive information about individual customers or prospects that is current, accessible, and actionable for such marketing purposes as lead generation, lead qualification, sale of a product or service, or maintenance of customer relationships is called ________. a. a customer database b. a customer mail list c. target market segments d. customer segments e. relationship markets Answer: aPages: 142–143Difficulty: MediumAACSB: Analytic Skills45.The process of building, maintaining, and using customer databases and other databases for the purpose of contacting, transacting, and building customer relationships is called ________. a. data warehousing b. datamining c. database marketing d . custom marketing e. electronic marketing Answer: cPage: 143Difficulty: EasyAACSB: Analytic Skills46. A _____________ is simply a set of names, addresses, and telephone numbers. a. customer database b. customer mailing list c. call-waiting list d. psychographic list e. demographic list Answer: bPage: 143Difficulty: Easy47. A customer database should contain all of the following EXCEPT ________. a. customer’s past purchases b. demographics c. psychographics d. mediagraphics e. an assessment of competitive strengths and weaknesses Answer: ePage: 143Difficulty: MediumAACSB: Reflective Skills48. A ________ would contain such items as past volumes, prices, profits, buyer, status of current contacts, and an assessment of competitive strengths and weaknesses. a. customer mailing list b. contact list c. customer database d. business database e. general corporate database Answer: dPage: 143Difficulty: EasyAACSB: Analytic Skills49. Savvy companies are capturing information every time a customer comes into contact with any of its departments. As a marketing manager all of the following would be available customer touch points for your consideration EXCEPT ________. a. a customer purchase b. an online query c. a mail-in rebate card d. an ad run on a national television network e. a customer-requested service call Answer: dPage: 143Difficulty: Medium50. Using his company’s ________ lets a telemarketer respond to customer inquiries more effectively because he or she can see a total picture of the customer relationship. a. data warehouse b. call back list c. call rejection list d. corporate database e. Better Business Bureau contacts Answer: aPage: 143Difficulty: Medium51. Through ________, marketing statisticians can extract useful information about individuals, trends, and segments from the mass of data. a. data accumulation b. target market information supplied by the government c. datamining d. data management e. data marketing Answer: cPage: 143Difficulty : MediumAACSB: Analytic Skills52. ________ involves the use of sophisticated statistical and mathematical techniques such as cluster analysis, automatic interaction detection, predictive modeling, and neural networking. a. Data management b. Data marketing c. Target market analysis d. Data accumulation e. Datamining Answer: ePage: 143Difficulty: MediumAACSB: Analytic Skills53. In general, companies can use their databases in all of the following ways EXCEPT ________. a. to predict competitive strategies and plans b. to identify prospects c. to decide which customers should receive a particular offer d. to deepen customer loyalty e. to avoid serious customer mistakes Answer: aPages: 143–145Difficulty: MediumAACSB: Analytic Skills54. Susan Lefferts’ company advertises widely. Ms. Lefferts uses business reply cards attached to her company’s magazine ads to build her company’s database. In which of the following ways would Ms. Lefferts most likely use the dat abase? a. To deepen customer loyalty b. To reactivate customer purchases c. To avoid serious customer mistakes d. To determine if up-selling is appropriate e. To identify prospects Answer: ePage: 143Difficulty: HardAACSB: Reflective Thinking55. Phil Langston has just ordered a number of expensive executive gifts that he will be sending as an appreciation token to a select few customers from his client database. In which of the following ways is Mr. Langston most likely using his database? a. To identify prospects b. To decide which customers should receive a new sales offer c. To deepen customer loyalty . To avoid serious customer mistakes e. To beat the competition to a sale Answer: cPage: 145Difficulty: MediumAACSB: Reflective Thinking56. Royal Caribbean uses its ________ to offer spur-of-the-moment cruise packages to fill all the berths on its ships. It focuses on retired people and single people because they are more able to make quick commitments. a. advertising b. database c. mail catalogs d. public relations department e. radio advertising Answer: bPage: 145Difficulty: Easy57. Which of the following is considered to be one of the four problems that can deter a firm from using CRM (customer relationship marketing)? . Competitors can often hack into CRM systems. b. Building and maintaining a customer database requires a large investment. c. It is very difficult to find and train database employees. d. Long-term results of such systems are still unproven. e. Focusing too much on databases separates a company from its customers. Answer: bPage: 145Difficulty: MediumAACSB: Reflective Thinking58. Building a database would not be worthwhile for a company in all of the following cases EXCEPT ________. a. where the product is a one-in-a-lifetime purchase b. where customers show little loyalty to a brand c. here the company already has an above average relationship with its customers d. where the unit sale is very small e. where the cost of gathering the informati on is too high Answer: cPages: 145–146Difficulty: Hard59. All of the following are examples of the perils of CRM EXCEPT ________. a. implementing CRM before creating a customer strategy b. the enormous cost that might eventually drain significant profits from the organization c. rolling out CRM before changing the organization to match d. assuming more CRM technology is better e. stalking, not wooing, customers Answer: bPage: 146Difficulty: Medium60.Marketers from which of the following are most likely to use database marketing? a. An airline b. A candy bar manufacturer c. A grand piano maker d. A toothpaste manufacturer e. None of the above would use database marketing. Answer: aPage: 146Difficulty: Medium AACSB: Reflective Thinking True/False61. Managers who believe the customer is the company’s only true â€Å"profit center† consider the traditional organization chart to be obsolete. Answer: TruePage: 120Difficulty: Easy62. The modern customer-oriented organi zation chart places top management at the top of the pyramid as long as they can think like consumers. Answer: FalsePage: 120Difficulty: Medium AACSB: Reflective Thinking63. There are two determinates of customer-perceived value: total customer benefit and total customer cost. Answer: TruePage: 121Difficulty: Medium AACSB: Analytic Skills64. Customer-perceived value is the perceived monetary value of all the purchases a customer makes on an annual basis. Answer: FalsePage: 121Difficulty: Medium AACSB: Analytic Skills65. Consumers tend to be value maximizes—they estimate which offer will deliver the most perceived value and act on it. Answer: TruePage: 121Difficulty: Easy AACSB: Analytic Skills66. At the heart of a good value delivery system is a set of core business processes that help to deliver distinctive customer value. Answer: TruePage: 123Difficulty: Hard AACSB: Analytic Skills67. Professional buyers and purchasing agents operate under various constraints and occasional ly make choices that give more weight to their personal benefit than to the company’s benefit. Answer: TruePage: 123Difficulty: Medium AACSB: Reflective Thinking68. The value proposition is stated in the price of a product and readily recognized by the average consumer. Answer: FalsePage: 123Difficulty: Medium AACSB: Analytic Skills69. The value delivery system includes all the experiences the customer will have on the way to obtaining and using the offering. Answer: TruePage: 123Difficulty: Medium AACSB: Analytic Skills70. For a consumer to be delighted with a product or service he or she must perceive that performance exceeds expectations. Answer: TruePage: 124Difficulty: Easy AACSB: Analytic Skills71. The ultimate goal of the customer-centered firm is to create high customer satisfaction. Answer: FalsePage: 124Difficulty: Hard AACSB: Reflective Thinking72.One key to customer retention is customer satisfaction. Answer: TruePage: 125Difficulty: Easy73. Consumers’ expe ctations result exclusively from past buying experiences. Answer: FalsePage: 125Difficulty: Medium74. A highly satisfied customer generally stays loyal longer, pays less attention to competing brands, and is less sensitive to price. Answer: TruePage: 125Difficulty: Medium75. Price perception is the totality of features and characteristics of a product or service that bear on its ability to satisfy stated or implied needs. Answer: FalsePage: 129Difficulty: Medium AACSB: Analytic Skills76. Conformance quality and performance quality is essentially the same thing in a marketing sense. Answer: FalsePage: 129Difficulty: Medium AACSB: Analytic Skills77. Two products with very different performance qualities can have the same conformance quality if both products deliver their respective promised quality. Answer: TruePage: 129Difficulty: Hard AACSB: Analytic Skills78. Marketers have found that pricing plays the most essential role in defining and delivering high-quality goods and services t o target customers. Answer: FalsePage: 130Difficulty: Easy AACSB: Reflective Thinking79.The midsize customers for most organizations receive good service, pay nearly full price for the products and services they purchase, and are often the most profitable. Answer: TruePage: 130Difficulty: Medium AACSB: Reflective Thinking80. A profitable customer is a person, household, or company that over time yields a revenue stream that exceeds by an acceptable amount the company’s cost stream of attracting, selling, and servicing the customer. Answer: TruePages: 130–131Difficulty: Medium AACSB: Analytic Skills81. The best thing a company can do in the face of company mistakes is to discourage the customer from complaining. Answer: FalsePage: 129Difficulty: Easy AACSB: Reflective Thinking82. Quality is the key to value creation and customer satisfaction. Answer: TruePage: 130Difficulty: Medium83. The least profitable 10% to 20% of customers can reduce profits by 50% to 200% per acc ount. Answer: TruePage: 130Difficulty: Medium AACSB: Analytic Skills84. Most companies measure customer satisfaction and individual customer profitability. Answer: FalsePage: 131Difficulty: Medium85. Unprofitable customers who defect to a competitor should be encouraged to do so. Answer: TruePage: 131Difficulty: Medium AACSB: Reflective Thinking86. Customer profitability analysis (CPA) is best conducted with the tools of an accounting technique called activity-based costing (ABC). Answer: TruePage: 131Difficulty: Medium87. According to customer profitability analysis (CPA), platinum customers spend the most money with the organization, thereby making them valuable. Answer: FalsePage: 131Difficulty: Hard AACSB: Analytic Skills88. Customer lifetime value (CLV) describes the net present value of the stream of future profits expected over the customer’s lifetime purchases. Answer: TruePage: 132Difficulty: Medium AACSB: Analytic Skills89. A good illustration of a personal touch in the hotel business would be if the hotel employees (e. g. , registration, maid service, et cetera) call a guest by his or her name. Answer: TruePage: 133Difficulty: Easy AACSB: Reflective Thinking90. A customer touch point is the time when the customer makes a purchase. Answer: FalsePage: 133Difficulty: Medium AACSB: Analytic Skills91. The aim of customer relationship management is to keep the costs of meeting and tracking consumers as low as possible. Answer: FalsePage: 133Difficulty: Medium AACSB: Reflective Thinking92.All companies should practice one-to-one marketing. Answer: FalsePage: 135Difficulty: Medium93. A key driver of shareholder value is the aggregate value of the customer base. Answer: TruePage: 136Difficulty: Medium94. Customer churn is how rapidly a store can move customers through its checkout facility or process. Answer: FalsePage: 137Difficulty: Medium95. The average company loses 25% of its customers each year. Answer: FalsePage: 138Difficulty: HardAACSB: Analy tic Skills96. A customer database is simply a listing of a customer’s name, address, and phone number for credit reference.Answer: FalsePages: 142–143Difficulty: Easy97. It’s often easier to reattract ex-customers (because the company knows their names and histories) than to find new ones. Answer: TruePage: 142Difficulty: Medium AACSB: Reflective Thinking98. Cluster analysis is a good example of a statistical technique that might be employed in datamining. Answer: TruePage: 143Difficulty: MediumAACSB: Analytic Skills99. It always costs less to serve loyal customers than to attract new ones. Answer: FalsePage: 146Difficulty: Medium AACSB: Analytic Skills100.Database marketing is most frequently used by business marketers and service providers (hotels, banks, airlines, and insurance, credit card, and telephone companies) that normally and easily collect a lot of customer data. Answer: TruePage: 146Difficulty: Medium Essay101. Compare and contrast the traditional o rganization chart for an organization against the modern customer-oriented organization chart. Suggested Answer: For a visual comparison, see Figure 5. 1. With respect to a written description, students should note that the modern customer-oriented organization chart is inverted (see the traditional model [e. g. top management—middle management—frontline people—customers]). Customers are at the top, followed by frontline people, then middle management, and, lastly, top management. Students might also provide some discussion on why the inversion is beneficial. Pages: 120–121Difficulty: Medium AACSB: Analytic Skills102. Provide a customer-centered definition of the term quality. Suggested Answer: Quality is the totality of features and characteristics of a product or service that bear on the ability to satisfy stated or implied needs. This is clearly a customer-centered definition. Page: 129Difficulty: Easy AACSB: Reflective Thinking103.Differentiate betwee n performance quality and conformance quality. Give an example of two products that have different performance quality but are of equal conformance quality. Suggested Answer: Performance quality is the quality of the product’s attributes. Conformance quality is the extent to which the product delivers the performance quality promised to consumers. A Lexus provides higher performance quality than a Hyundai: The Lexus rides smoother, goes faster, and lasts longer. Yet both would deliver the same conformance quality if both delivered their respective promised quality. Page: 129Difficulty: Hard AACSB: Analytic Skills104. The case for maximizing long-term customer profitability is captured in the concept of customer lifetime value. How is customer lifetime value calculated? Suggested Answer: Customer lifetime value describes the net present value of the stream of future profits expected over the customer’s lifetime purchases. The company must subtract from its expected reve nues the expected costs of attracting, selling, and servicing the account for that customer, applying the appropriate discount rate (depending on cost of capital and risk attitudes). Page: 132Difficulty: Hard AACSB: Analytic Skills105.Peppers and Rogers outline a four-step framework for one-to-one marketing that can be adapted to CRM marketing. What are those four steps? Suggested Answer: The four steps are: (1) Identify your prospects and customers; (2) differentiate customers in terms of their needs and their value to your company; (3) interact with individual customers to improve your knowledge about their individual needs and to build stronger relationships; and (4) customize products, services, and messages to each customer. Page: 135Difficulty: Hard AACSB: Analytic Skills106. A key driver of shareholder value is the aggregate value of the customer base. Identify the five strategies employed by winning companies to improve the value of their customer base. Suggested Answer: Win ning companies improve the value of their customer base by excelling at the following five strategies: (1) reducing the rate of customer defection; (2) increasing the longevity of the customer relationship; (3) enhancing the growth potential of each customer through â€Å"share-of-wallet,† cross-selling, and up-selling; (4) making low-profit customers more profitable or terminating them; and (5) focusing disproportionate effort on high-value customers. Page: 136Difficulty: Hard AACSB: Reflective Thinking107. Today, companies are increasingly concerned about customer defection. There are three main steps a company can take to reduce the defection rate. Characterize those three steps. Suggested Answer: The three steps are: (1) The company must define and measure its retention rate; (2) the company must distinguish the causes of customer attrition and identify those that can be managed better; and (3) the company must compare the lost profit equal to the customer lifetime value from a lost customer to the costs to reduce the defection rate. Page: 137Difficulty: Hard AACSB: Analytic Skills108. Discuss the concepts of a data warehouse and datamining. Suggested Answer: Data are collected by the company’s contact center and organized into a data warehouse. Company personnel can capture, query, and analyze the data. Inferences can be drawn about an individual customer’s needs and responses. Through datamining, marketing statisticians can extract useful information about individuals, trends, and segments from the mass of data. Datamining involves the use of sophisticated statistical and mathematical techniques. Page: 143Difficulty: Medium AACSB: Analytic Skills109.Assume that a marketing manager of a small company is in the process of implementing the use of a database to assist his or her company in its marketing efforts. Considering the information found in the text, list five ways that the marketing manager might be able to use the database for marketing efforts. Suggested Answer: Five ways to use a database for marketing efforts include: (1) to identify prospects; (2) to decide which customers should receive a particular offer; (3) to deepen customer loyalty; (4) to reactivate customer purchases; and (5) to avoid serious customer mistakes. Pages: 143–-145Difficulty: Medium AACSB: Reflective Thinking110. Describe four situations or cases when building a customer database would not be worthwhile for a company. Suggested Answer: Four situations or cases when building a customer database would not be worthwhile for a company would be: (1) where the product is a once-in-a-lifetime purchase; (2) where customers show little loyalty to a brand; (3) where the unit sale is very small; and (4) where the cost of gathering information is too high. Pages: 145–146Difficulty: Medium AACSB: Reflective ThinkingAPPLICATION QUESTIONS Multiple Choice111. John Chambers, CEO of Cisco Systems, said, â€Å"Make your customer the ce nter of your culture. † Customer-centered companies are adept at building customer relationships, not just producing products; they are skilled in ________, not just product engineering. a. service engineering b. market engineering c. cultural engineering d. innovation engineering e. management engineering Answer: bPage: 119Difficulty: Medium112. Immediately below the customers in a modern customer-oriented organization chart, we would expect to find the ________ of an organization. . top management b. marketing department c. middle management d. frontline people e. service department Answer: dPage: 121Difficulty: Easy AACSB: Analytic Skills113. All of the following are considered to be customer costs EXCEPT ________. a. financial cost of acquiring the product b. financial cost of disposing of the product c. time spent acquiring the product d. the risk of social stigma associated with acquiring the product e. All of the above are considered to be customer costs. Answer: ePage: 121Difficulty: Medium AACSB: Reflective Thinking114.When a consumer considers a product or service, he or she will choose whichever product or service delivers the highest ________. a. customer-perceived value b. customer-perceived cost c. consumer discount d. consumer relationship e. consumer synergy Answer: aPage: 121Difficulty: Medium AACSB: Analytic Skills115. Buyers do not always make logical or rational decisions. They might purchase the most expensive and least quality item for example. Which of the following would be another good example of this behavior? a. The buyer is not seen by the seller as being very intelligent. b. The buyer might be under orders to buy at the lowest price. . The buyer might be underage. d. The buyer might be under pressure to resist sales messages. e. The buyer refuses to listen to or read any advertising. Answer: bPage: 123Difficulty: Medium AACSB: Reflective Thinking116. If a company were to focus its marketing efforts on all the experiences the customer will have on the way to obtaining and using the offering, it would be focusing its marketing efforts on the customer’s ________. a. perception system b. cost versus benefit system c. demand d. psychological system e. value delivery system Answer: ePage: 123Difficulty: Medium AACSB: Analytic Skills117. _______ is defined as â€Å"a deeply held commitment to rebuy or repatronize a preferred product or service in the future despite situational influences and marketing efforts having the potential to cause switching behavior. † a. Customer satisfaction b. Customer value c. Loyalty d. Customer profitability e. Quality Answer: cPage: 123Difficulty: Medium AACSB: Analytic Skills118. Whether the buyer is satisfied after purchase depends on the offer’s performance in relation to the ________. a. buyer’s reactions b. buyer’s expectations c. seller’s delivery d. seller’s expectations e. both the buyer’s and seller’s demand s Answer: bPage: 124Difficulty: Medium AACSB: Analytic Skills119. Buyers form expectations in all of the following ways EXCEPT ________. a. from past buying experience b. from friends’ and associates’ advice c. from marketers’ information d. from competitors’ information e. from inherited traits Answer: ePage: 125Difficulty: Easy AACSB: Analytic Skills120. Field Grocery is considering using _________ to pose as customers and report on strong and weak points in customer service at Field Grocery stores. a. intelligence agents b. covert operatives c. mystery shoppers d. market mavens e. opinion leaders Answer: cPage: 126Difficulty: Easy121. 3M makes it easy for dialog to occur with its customers. 3M claims that over two-thirds of its product-improvement ideas come from listening to ________. a. customer suggestions b. entrepreneurial product ideas c. customer complaints d. media feedback e. customer reactions to competitive products Answer: cPage: 129Difficu lty: Medium AACSB: Analytic Skills122. According to GE’s former chairman, John F. Welch Jr. , â€Å"________ is our best assurance of customer allegiance, our strongest defense against foreign competition, and the only path to sustained growth and earnings. † a. Quality b. Customer satisfaction c. True value d. Sustainable enterprise e. Motivation Answer: aPage: 129Difficulty: Hard AACSB: Analytic Skills123. With respect to customer profitability analysis, ________ customers are the most likely dropped as customers because of poor profitability. a. granite b. wood c. iron d. plastic e. lead Answer: ePage: 131Difficulty: Medium124. Jim is a residential construction contractor. Although one particular realtor provides Jim with a large volume of work, the realtor frequently demands discounts for sending him customers. This realtor is best described as a(n) ________ customer. a. latinum b. gold c. lead d. iron e. ivory Answer: dPage: 131Difficulty: Medium AACSB: Reflective Thinking125. Harrah’s has used effective ________ to almost double its share of customers’ gaming budgets by targeting offers to specific customer segments. a. customer relationship management b. customer lifetime value c. customer profitability analysis d. customer satisfaction analysis e. customer-value delivery Answer: aPage: 135Difficulty: Medium AACSB: Analytic Skills126. Many banks and phone companies now charge fees for once-free services to ensure minimum customer revenue levels. This is an example of ________. . reducing the rate of customer defection b. making low-profit customers more profitable c. enhancing the growth potential for each customer through cross-selling d. increasing the longevity of the customer relationship e. focusing disproportionate effort on high-value customers Answer: bPage: 136Difficulty: Medium AACSB: Reflective Thinking127. When Bob found out his friend was thinking about buying a new car, he strongly recommended that his friend lo ok into the newest line of Ford sedans. Bob is best characterized as a(n) ________ for Ford. a. first-time customer b. member c. partner d. advocate e. rospect Answer: dPage: 137Difficulty: Medium AACSB: Reflective Thinking128. Carol is currently considering buying a Motorola cell phone offered by her service provider in conjunction with a two-year service contract. Carol is best characterized as a(n) ________ for Motorola. a. first-time customer b. member c. partner d. advocate e. prospect Answer: ePage: 137Difficulty: Medium AACSB: Reflective Thinking129. Southwest Airlines offers a Rapid Rewards program, an example of a ________ that allows customers to count flights they have taken toward free future flights. a. value proposition b. value delivery system c. lub membership program d. one-to-one marketing program e. customer churn Answer: cPage: 140Difficulty: Easy AACSB: Analytic Skills130. The skillful use of database marketing and ________ has made catalog house Fingerhut one o f the nation’s largest direct-mail marketers. a. everyday low prices b. expanded home delivery options c. relationship building d. competitor’s mistakes e. retailer alliances Answer: cPage: 145Difficulty: Hard AACSB: Analytic Skills Short Answer131. What do modern managers believe is their company’s only true â€Å"profit center†? Suggested Answer: Managers believe the customer is their only true profit center. Page: 120Difficulty: Easy AACSB: Analytic Skills132. Customer-perceived value is based on two components. What are those components? Suggested Answer: The two components of customer-perceived value are total customer value and total customer cost. Page: 121Difficulty: Medium AACSB: Analytic Skills133. What is the definition for customer-perceived value (CPV)? Suggested Answer: Customer-perceived value (CPV) is the difference between prospective customer’s evaluation of all the benefits and all the costs of an offering and the perceived alter natives. Page: 121Difficulty: Medium AACSB: Analytic Skills134. Using European automobile giant Volvo as your illustration, create a value proposition for the company. Suggested Answer: Students may have several answers; however, any value proposition must be built on their stated positioning objective of â€Å"safety. † Other benefits that might be worked into a value proposition could be a long-lasting car, good service, and a long warranty period. Basically, the value proposition is a statement about the total experience customers will gain from the company’s market offering and from their relationship with the supplier. Page: 123Difficulty: Medium AACSB: Reflective Thinking135. How do customers determine their level of satisfaction with a product? Suggested Answer: In general, satisfaction is a person’s feelings of pleasure or disappointment that result from comparing a product’s perceived performance to the customer’s expectations. Page: 124Di fficulty: Easy AACSB: Reflective Thinking136. Give an example of a â€Å"branded customer experience. † Suggested Answer: Students may have several answers. One example from the book is that of Joie de Vivre Hospitality Inc, which operates a chain of boutique hotels, restaurants, and resorts in the San Francisco area. The boutique concept enables hotels to offer personal touches, such as vitamins in place of chocolates on pillows. Page: 125Difficulty: Hard AACSB: Reflective Thinking137. Companies need to be especially concerned today with their customer satisfaction level. Why? Suggested Answer: Companies need to be especially concerned today with their customer satisfaction level because the Internet provides a tool for consumers to quickly spread bad word of mouth to the rest of the world. Page: 126Difficulty: Easy AACSB: Reflective Thinking138. Identify three ways companies with customer complaints can recover customer goodwill. Suggested Answer: Five methods are identifie d in the text. Students should present three of the following: (1) Set up a 24/7 toll-free â€Å"hotline† to receive and act on customer complaints; (2) contact the complaining customer as quickly as possible; (3) accept responsibility for the customer’s disappointment; (4) use customer-service people who are empathic; and (5) resolve the complaint swiftly and to the customer’s satisfaction. Page: 129Difficulty: Medium AACSB: Analytic Skills139.Define the term quality. Suggested Answer: Quality is the totality of features and characteristics of a product or service that bear on its ability to satisfy stated or implied needs. Page: 129Difficulty: Easy AACSB: Analytic Skills140. What are the three ways that customer profitability can be assessed? Suggested Answer: Customer profitability can be assessed individually, by market segment, or by channel. Page: 131Difficulty: Medium AACSB: Analytic Skills141. What are the four classifications (tiers) of customers in cus tomer profitability analysis using activity-based costing? Suggested Answer: The tiers would be platinum customers (most profitable), gold customers (profitable), iron customers (low profitability but desirable), and lead customers (unprofitable and undesirable). Page: 131Difficulty: Hard AACSB: Analytic Skills142. What is a customer touch point? Suggested Answer: A customer touch point is any occasion on which a customer encounters the brand and product—from actual experience to personal or mass communications to casual observation. Page: 133Difficulty: Medium AACSB: Analytic Skills143. One-to-one marketing is not for every company. For whom does this style of marketing work best? Suggested Answer: One-to-one marketing works best for companies that normally collect a great deal of individual customer information, carry a lot of products that can be cross-sold, carry products that need periodic replacement or upgrading, and sell products of high value. Page: 135Difficulty: Ha rd AACSB: Reflective Thinking144. A 5% reduction in the customer defection rate can increase profits by 25% to 85%, depending on the industry. Explain how this is so. Suggested Answer: Acquiring new customers can cost five times more than satisfying existing customers. Customer profit rate also tends to increase over the life of the retained customer due to increased purchases, referrals, and price premiums and reduced operating costs to service. Page: 138Difficulty: Medium AACSB: Reflective Thinking145. Explain how a company frequency program might work. Suggested Answer: Frequency programs are designed to provide rewards to customers who buy frequently and in substantial amounts. Frequency programs acknowledge the validity of the 20–80 rule. Page: 139Difficulty: Medium AACSB: Analytic Skills146. Describe the process of database marketing. Suggested Answer: Database marketing is the process of building, maintaining, and using customer databases and other databases (products, suppliers, resellers) for the purpose of contacting, transacting, and building customer relationships. Page: 143Difficulty: Medium AACSB: Analytic Skills147. How do companies use their databases to identify prospects?Suggested Answer: Many companies generate sales leads by advertising their product or service. The ads generally contain a response feature, such as a business reply card or a toll-free phone number, and the company builds its database from customer responses. It sorts through the database to identify the best prospects, then contacts them by mail, phone, or personal call to convert them into customers. Page: 143Difficulty: Medium AACSB: Reflective Thinking148. Give an illustration of how a company can use a customer database to reactivate customer purchases. Suggested Answer: Companies can install automatic mailing programs that send out birthday or anniversary cards, Christmas shopping reminders, or off-season promotions. Other illustrations by students should be in a similar vein. Page: 145Difficulty: Medium AACSB: Reflective Thinking149. One of the main problems that can prevent a firm from effectively using CRM is that some of the assumptions behind CRM may not always hold true. Give an example of one of these assumptions that might not always hold true. Suggested Answer: It may not actually cost less to serve more loyal customers. Page: 146Difficulty: Medium AACSB: Analytic Skills150. According to information provided in the text, what are the four main perils of CRM? Suggested Answer: The four main perils are: (1) implementing CRM before creating a customer strategy; (2) rolling out CRM before changing the organization to match; (3) assuming more CRM technology is better; and (4) stalking, not wooing, customers. Page: 146Difficulty: Hard AACSB: Analytic Skills

Development of Ophelia in Hamlet Essay

William Shakespeare in the play â€Å"Hamlet† develops the character of Ophelia in three unique stages. Initially, Ophelia is portrayed as a normal and obedient character. As the play progresses, she falls madly in love and ultimately goes insane. Ophelia progresses in a negative direction as the plot of the play moves on. In the beginning of the play Ophelia is depicted as the normal, obedient daughter. Laertes explains to Ophelia that even if Hamlet says he loves her, he may not be telling the truth. After Laertes speaks, Ophelia respects the personal knowledge on relationships that he has to offer. Ophelia accepts his speech and â€Å"shall the effect of this good lesson keep as watchman to [her] heart† (I, III, 48-49). Ophelia listened to Laertes’ advice and obediently accepts his guidance. Moment’s later Ophelia’s father, Polonius, requests that Ophelia stop seeing Hamlet. In response, Ophelia says, â€Å"I shall obey, my Lord† (I, III, 140). Polonius’ word appears to be of importance when Ophelia responds in such a compliant manner. Primarily, Ophelia is interpreted as a well-behaved teenage girl, however this depiction soon changes. Although Laertes and Polonius try to steer Ophelia in the right direction, she ends up falling almost irrationally in love with Hamlet. Ophelia’s utter obedience leaves her vulnerable to the abuse of Hamlet, who accuses her of being unfaithful and deceptive. Ophelia claims that Hamlet â€Å"took [her] by the wrist and held [her] hard† (II, I, 97). Although Hamlet physically abuses Ophelia, her love for him is stronger than him mistreating her. While Hamlet tells Ophelia that his love for her has departed, she is in utter shock and dismay. Ophelia responds with â€Å"O heavenly powers, restore him!† (III, I, 153). Ophelia cannot believe that Hamlet no longer loves her and wishes that he would love her again once more. Her love is clearly consuming her every thought. Although Hamlet no longer loves Ophelia she cannot accept or cope with this reality and the stress ultimately leads to her death. After Ophelia realizes that Hamlet no longer has feelings for her, she goes insane. Ophelia sings a vulgar song about a maiden who is tricked into losing her virginity with a false promise of marriage. While Ophelia is prancing around singing her outrageous song, she relates her song to Hamlet. Ophelia says, â€Å"Quoth she, before you tumbled me, you promised me to wed† (IV,V,62-63). Ophelia felt that they were going to get married and she believed that Hamlet was certainly going to propose to her. Later, Ophelia fell into the water and drowned. The Queen speaks up and says, â€Å"Till that her garments, heavy with their drink, pulled the poor wretch from her melodious lay to muddy death† (IV,VII,196-198). Rather than trying to save herself, she passively let herself drown because she didn’t care to continue living without Hamlet. In the end, Ophelia’s emotions controlled her, and these negative emotions led to her demise. Ophelia develops over the course of the play in a number of ways. Initially she is obedient and normal, and later turns into a girl controlled by love and eventually she commits suicide. Ophelia is a dynamic character that changes throughout the play. Her blind passion for Hamlet causes her to lose the ability to think or act rationally. Life, to her, is meaningless without him, and she chooses death over life. Ophelia surely progressed through the play in a negative manner.

The Need for Academic Integrated Conflict Resolution in Education

The conflict between individuals aged 13 to 19 is so high that the need for academically integrated conflict resolution programs is quickly becoming a focal point of those involved in the educational world. Parents, teachers, and psychologists alike have all expressed horror that the rising number of youth offenders, violence in the schools, racial intolerance and the like has rapidly risen among their teenaged children, students, and clients. It has become second nature for students to solve their conflict with verbal confrontations and physical altercations. Tragically, the use of guns either aimed at the person that they believe to be the cause of their angst or at themselves in suicidal attempts is sometimes the heartbreaking epilogue of an inability to properly deal with conflict. It seems as though students don't know how to peacefully resolve the conflicts that they find themselves in on a day-to-day basis. A conflict resolution-training program that is integrated into a student's academic program will encourage students to learn the methods of peaceful mediation. It will induce students to apply the methods of conflict resolution into their day-to-day disputes not to mention the positive impact that it will have on their academic achievement. â€Å"A conflict exists when actions come into opposition. Conflict can occur within an individual, group, organization, institution, or nation. Conflicts can cross boundaries. They can occur between individuals and institutions, and across cultures. How we manage or resolve conflicts is the central issue. Today, underlying the violence that surrounds our schools, neighborhoods, and communities are conflicts which have never been addressed or have been improperly resolved. Indeed in a diverse and complex society, Conflict Resolution Programs are much needed and an important component of all schools. In the 60's and 70's this need was understood by the Quakers and peace activists. In the early 1980's, Educators for Social Responsibility examined alternative strategies of dealing with violence. The Children's Creative Response to Conflict, the Community Board's Program, and the Peace Education Foundation were in the forefront of the movement. In 1984 the National Association of Mediation (NAME) was formed which served as a clearinghouse for information and training for school- based conflict resolution programs. In 1983 the National Institute of Dispute Resolution (NIDR) was formed to promote the development of conflict resolution tools and processes. Several types of programs have now emerged in schools of a collaborative and cooperative problem-solving approach involving processes such as negotiation, conciliation, mediation, fact finding, and arbitration. The Gandhian method of conflict resolution, called â€Å"satyagraha†, or truth force, is concerned with human needs and recognizes the importance of resolving the â€Å"conflict triangle†: the attitude, the behavior, and the goal incompatibility itself. For Gandhi the desired outcome of a conflict is in the creation of a better social structure, and a greater degree of human unity. † (C. W. Post Library on Nonviolence). Conflict resolution in the inner city schools is quickly becoming an epidemic. Many schools have implemented preventative programs which include both uniformed and undercover armed guards to metal detectors to metal detectors in the school hallways. â€Å"†¦ Though one New York City study suggests the effectiveness of metal detectors, many experts fear that detectors do little more than create a false sense of security in schools† (Witkin, 1998). The purpose of this study is to evaluate the effects that a conflict resolution program that is integrated into an English literature class has on students in an urban high school in New York. According to Johnson and Johnson (1996), conflict resolution programs can be divided into three ways. There is the cadre or total student body approach, which trains certain students to become peer mediators or training every student in the school in constructive conflict management, respectively. Levy (1989) and Maxwell (1989) divide conflict resolution programs into two categories: curriculum-based programs and peer mediation programs. Curriculum based programs are preventative in nature and focus on teaching students to about conflicts and the alternatives to violence as a method of resolution. They emphasize social skills, empathy training, stress and anger management, attitudes about conflicts, and bias awareness. The third division is a division of skills-oriented approaches and academically oriented approaches. Opotow (1991) has found skills-oriented approaches to be those in which students are taught the interpersonal and small-group skills which are needed to resolve conflicts constructively (D. W. Johnson, 1997; D. W. Johnson & F. Johnson, 1997); in the academic approach students are taught the intellectual procedures and cognitive skills for managing conflicts such as academic controversy (D. W. Johnson & R. Johnson, 1979, 1995a), violence prevention (Prothrow-Stith, Spivak, & Hausman, 1987), and critical thinking (Paul, 1984; Seigel, 1988); and the last approach is the structural-change approach which emphasize changing the school structure from a mass-manufacturing approach to a team based, high-performance organizational structure (D. W. Johnson & R. Johnson, 199 4) and providing a cooperative context for a management of conflict (Deutsch, 1973; D. W. Johnson & R. Johnson, 1994). The Need for Academic Integrated Conflict Resolution in Education The conflict between individuals aged 13 to 19 is so high that the need for academically integrated conflict resolution programs is quickly becoming a focal point of those involved in the educational world. Parents, teachers, and psychologists alike have all expressed horror that the rising number of youth offenders, violence in the schools, racial intolerance and the like has rapidly risen among their teenaged children, students, and clients. It has become second nature for students to solve their conflict with verbal confrontations and physical altercations. Tragically, the use of guns either aimed at the person that they believe to be the cause of their angst or at themselves in suicidal attempts is sometimes the heartbreaking epilogue of an inability to properly deal with conflict. It seems as though students don't know how to peacefully resolve the conflicts that they find themselves in on a day-to-day basis. A conflict resolution-training program that is integrated into a student's academic program will encourage students to learn the methods of peaceful mediation. It will induce students to apply the methods of conflict resolution into their day-to-day disputes not to mention the positive impact that it will have on their academic achievement. â€Å"A conflict exists when actions come into opposition. Conflict can occur within an individual, group, organization, institution, or nation. Conflicts can cross boundaries. They can occur between individuals and institutions, and across cultures. How we manage or resolve conflicts is the central issue. Today, underlying the violence that surrounds our schools, neighborhoods, and communities are conflicts which have never been addressed or have been improperly resolved. Indeed in a diverse and complex society, Conflict Resolution Programs are much needed and an important component of all schools. In the 60's and 70's this need was understood by the Quakers and peace activists. In the early 1980's, Educators for Social Responsibility examined alternative strategies of dealing with violence. The Children's Creative Response to Conflict, the Community Board's Program, and the Peace Education Foundation were in the forefront of the movement. In 1984 the National Association of Mediation (NAME) was formed which served as a clearinghouse for information and training for school- based conflict resolution programs. In 1983 the National Institute of Dispute Resolution (NIDR) was formed to promote the development of conflict resolution tools and processes. Several types of programs have now emerged in schools of a collaborative and cooperative problem-solving approach involving processes such as negotiation, conciliation, mediation, fact finding, and arbitration. The Gandhian method of conflict resolution, called â€Å"satyagraha†, or truth force, is concerned with human needs and recognizes the importance of resolving the â€Å"conflict triangle†: the attitude, the behavior, and the goal incompatibility itself. For Gandhi the desired outcome of a conflict is in the creation of a better social structure, and a greater degree of human unity. † (C. W. Post Library on Nonviolence). Conflict resolution in the inner city schools is quickly becoming an epidemic. Many schools have implemented preventative programs which include both uniformed and undercover armed guards to metal detectors to metal detectors in the school hallways. â€Å"†¦ Though one New York City study suggests the effectiveness of metal detectors, many experts fear that detectors do little more than create a false sense of security in schools† (Witkin, 1998). The purpose of this study is to evaluate the effects that a conflict resolution program that is integrated into an English literature class has on students in an urban high school in New York. According to Johnson and Johnson (1996), conflict resolution programs can be divided into three ways. There is the cadre or total student body approach, which trains certain students to become peer mediators or training every student in the school in constructive conflict management, respectively. Levy (1989) and Maxwell (1989) divide conflict resolution programs into two categories: curriculum-based programs and peer mediation programs. Curriculum based programs are preventative in nature and focus on teaching students to about conflicts and the alternatives to violence as a method of resolution. They emphasize social skills, empathy training, stress and anger management, attitudes about conflicts, and bias awareness. The third division is a division of skills-oriented approaches and academically oriented approaches. Opotow (1991) has found skills-oriented approaches to be those in which students are taught the interpersonal and small-group skills which are needed to resolve conflicts constructively (D. W. Johnson, 1997; D. W. Johnson & F. Johnson, 1997); in the academic approach students are taught the intellectual procedures and cognitive skills for managing conflicts such as academic controversy (D. W. Johnson & R. Johnson, 1979, 1995a), violence prevention (Prothrow-Stith, Spivak, & Hausman, 1987), and critical thinking (Paul, 1984; Seigel, 1988); and the last approach is the structural-change approach which emphasize changing the school structure from a mass-manufacturing approach to a team based, high-performance organizational structure (D. W. Johnson & R. Johnson, 199 4) and providing a cooperative context for a management of conflict (Deutsch, 1973; D. W. Johnson & R. Johnson, 1994).

Catholic magisterial teaching Essay Example | Topics and Well Written Essays - 500 words

Catholic magisterial teaching - Essay Example Conscience guides man on what to do and what not to do and since it is the voice of God it will always lead us in doing what I righteous. God created all human beings in his own image, and He requires us to love him and also love our neighbours. With love, we will think well of others, with love we cannot kill, steal, take bribes or favour individuals based on either their race, ethnic group or any other classification. Conscience brings together people from different parts of the world in the search of the truth hence strengthening their social relationships, and more so creates peace and coherence. It is through these interactions and conscience that people develops norms of morality that guide them no matter their geographical location and hence in the long run the whole world is united and guided by laws that uphold respect for others. In conclusion, it is evident that these teachings from the Gaudium et Spes are critical if put into place. They will increase peace and love for o thers and remove selfishness and hence will lead to equitable distribution of wealth and access to employment as human beings see each other as being equal and important in the eyes of God (Paul VI Ch. 1). The church and other Christian organization should continue to act as patrons to the poor. According to the Gaudium et Spes Chapter 4 Section 42, it is the role of the church to create works like charity to benefit the poor people in the society. The aim of the church is to unite the human race, and this can only be achieved by addressing the particular needs of the people. The church also aims at doing what is useful to other people, and this creates an obligation of meeting the needs of the poor people in the society. The church emulates Christ and in bringing unity and strengthening of the human family and this can only be achieved by meeting the needs of the members. The church believes that the social

Marketing Research Paper Example | Topics and Well Written Essays - 1500 words - 1

Marketing - Research Paper Example This paper will look at marketing in general, as a process of moving products or services from the manufacturers or providers to the hands of their customers. Marketing Definition Marketing is a large process as Pride and Ferrell (3) defines it, encompassing quite a lot of processes. According to Pride and Ferrell (3) â€Å"marketing is the process of creating, distributing, promoting and pricing goods, services, and ideas to facilitate satisfying exchange relationships with customers to develop and maintain favourable relationships with stakeholders in the dynamic world.† According to this definition, marketing is includes more than just movement of goods from the plant to the customers. Marketing Process Sandhusen (2) defines the marketing process as the manner in which a firm seeks to identify the unfulfilled needs of the customers and coming up with various strategies to meet these needs. It does not involve just the process of moving products from the manufacturing plant to the customers. It involves the various processes that a marketing department goes through in order to come up with a marketing plan. Marketing process involves a number of steps, which include situation analysis in the market to identify the needs of the customers. ... Marketing mix decisions helps the firm to identify how to best get their products to the markets. Implementing the plan is the last step of the planning process where the firm ensures the laid down plans are followed by the teams supposed to implement the plan (Pride and Ferrell 195). Pride and Ferrell (3) state that â€Å"the essence of marketing is to develop satisfying exchanges from which both customers and marketers benefit.† This means that proper marketing is of benefit to both the firm and the customers. Marketing Mix When marketing a product, a firm need to develop an effective marketing mix which involves offering the right product, sold at the right price, in the right place and should offered using the most suitable promotion (Burrow and Jim 440-445). A number of conditions have to be met by a company seeking to create a successful marketing mix for its products. The features of the product that the company seeks to offer to the people must possess the right featur es which are desirable to the people. 4P’s of Marketing Price Gitman and Carl (295) points out that price is the most important integral of the marketing mix, since it is creates revenue for the firm. According to â€Å"pricing strategy is based on demand for the product and the cost for the producing it.† Thus, the price set should cater for all the expenses incurred by the product. Price is the only factor of the marketing mix which is not a cost, when compared with the others. The price of a product largely determines the value of sales made by a particular company. Price of a product or a service is largely affected by what the customers believe is the most appropriate value of the item on sale. If a company sets very high prices for its products so as to gain more profits, it

The Rotana Hotels Management Corporation Research Paper

The Rotana Hotels Management Corporation - Research Paper Example Recommendations based on the Operations Management are given at the end of the report. The Rotana Hotels Management Corporation known as the Rotana Hotels’ basic philosophy is that ‘hospitality is a fine art. There is no way it can be learned; it has to be a way of life.’ Even though it is very simple, yet it clearly illustrates the fact that the aspect of hospitality is a part of every level of the organization and is the basic foundation to its standards. The Rotana Hotels Management Corporation known as the Rotana Hotels, one of the leading hotel management companies in the Middle East, was established in 1992, by a partnership between Nasser Al Nowais and Selim El Zyr, who were joined three years later by Nael Hashweh and Imad Elias. The Rotana Hotels Management Corporation started its operation as Rotana hotel in 1993 in Abu Dhabi. â€Å"Our vision is to be the Leading and Preferred Hospitality Management Company within the Middle East, operating Hotels, Suites, and Resorts. We have the expertise, the passion and the competitive strength to achieve this goal†. â€Å"We will identify and exceed the expectations of our Guests, Staff, and Owners through innovative and creative solutions, combined with personalized care to gain their loyalty. We will constantly maintain International quality standards complemented with traditional Arabic Hospitality†. The forecasting for hiring new staff at Rotana Hotels mainly depends on the increase in the number of branches or new extensions. This indicates that if Rotana Hotels is extending its existing operations then they would work on recruiting or promoting previous staff for the new positions available. Forecasting demand: According to the requirements of the operations and making use  of the trend analysis based on previous information regarding the experienced occupancy, Rotana Hotels is able to forecast the forthcoming needs of employment in every aspect by using both bottoms-up forecasting and to down forecasting.

Music Essay Example | Topics and Well Written Essays - 1000 words - 6

Music - Essay Example The main genres of the 17th – 18th centuries’ music are cantata and oratorio. The importance of secular music increased: it sounded at courts, in the salons of the aristocracy, in public theaters (the first such theaters were founded in the 17th century). Opera takes shape as a new kind of musical art.   Ã‚  Ã‚   New genres also emerged in instrumental music. Primarily we can talk about an instrumental concerto. The violin, harpsichord, organ gradually turned into solo instruments. Music, composed for them, made ​​it possible to show not only the composers’ talent but also talent of the performing musicians. Virtuosity was valued most of all. It gradually became an end in itself for many musicians. The composers of the 17th -18th centuries usually composed not only music, but also skillfully played instruments and were involved in teaching activities. Welfare of musicians and composers largely depended on a specific customer. As a rule, every serious musician sought a place at court of a monarch or a wealthy aristocrat (many noblemen had their own orchestras or opera houses) or in a church. And the majority of composers easily combined church services with music-making for their secular patrons. Austria took the leading role in the development of musical culture in the 18th century. European opera, after two centuries of development, finally reached the pinnacle in the work of Viennese composers - Christoph Willibald Gluck (1714 - 1782) and Wolfgang Amedeo Mozart (1756 - 1791). Classical symphonic style and classical chamber music were created by an Austrian composer Joseph Haydn (1732-1809) and genius Mozart. When people talk about classical music (in the sense of a certain movement, along with the Romantic Movement, Impressionism, etc.), they primarily have in mind the Viennese classical school, represented by Gluck, Haydn, Mozart, and Beethoven in the 19th century. Creative works of Haydn and Mozart, sons of

Radio Frequency Identification (RFID) technology Essay

Radio Frequency Identification (RFID) technology - Essay Example Understanding the RFID devices and how they work is critical for analyzing privacy issues that surround this technology. The main components of an RFID system are a chip/tag, reader, and database. A reader scans the tag for data and sends the information to a database, which stores the data contained on the tag (Federal Trade Commission 1-54). In the last several years this technology has gained popularity as a way to streamline different supply chain processes in various settings such as distribution centers, retail stores, hospitals and pharmacies (Davis n.pag [a]). RFID equipment vendors have been confident on the technologys adoption, but the consumers are worried that RFID technology can bring in unknown risks and is not cost-effective enough to be installed in a supply chain network. In reality RFID tags can be read much faster than bar codes indicating that RFID’s scanning capability can result in goods moving through the supply chain much faster than they do when bar codes are used. RFID facilitate quicker, more accurate recalls by enabling the tracking of a product’s origin and its location in the distribution chain. According to a survey conducted by the Computing Technology Industry Association (CompTIA), it was found that IT resellers and vendors are all set to add RFID solutions to their portfolios. However, the major problem is from their customers who are reluctant and are slow to embrace the technology. According to the survey, 84% of resellers, solution providers, systems integrators, and consultants are prepared to offer RFID products and solutions in the next three years. About 65.6% of them said their customers are yet to implement RFID solutions. This survey also pointed out that the adoption of this technology has been challenged by equipment and tagging costs, murky and unclear return-on-investment for supply chain applications, and a workforce skills shortage. Though the

Concept Analysis of Caring Essay Example | Topics and Well Written Essays - 1500 words

Concept Analysis of Caring - Essay Example Nurse is a person capable to provide care while interacting with people. The provision of nursing care enables interactions to depict that this profession provides a basis for nursing as a profession discipline to interact with the society. Caring as a concept can be construed to mean providing for, looking after, or caring about somebody. The disposition for caring can range from a mild concern to a strong attachment of deep-felt love. According to caring and nursing theorists such as Ranheim & Bertero (2012) and Gillespie et al. (2012) caring is both a value and an attitude that becomes an intent due to manifestation of the concrete acts. Other caring philosophers argue that caring relationships establish strong ethos of love, sacrifice, and responsibility in caritative ethic. Care and caring have a feministic inclination due to the natural mother taking care of children. To better understand the approach of caring and the role of the practice I will consolidate empirical findings from three different studies that will reveal the nurse caring intentions to reflect the caring theory in practice. The study aims to elaborate a critical representation of the caring concept as presented in the nursing literature using conceptual analytical approaches. The critical reflection on the caring concept represents the concept as vague and indefinite while ontology and epistemology in profession nursing distinguish conceptual analyses of caring and the structural perspective of language. Additionally the paper will mention the self-referential attributes of the concept of caring, uses, and the analytical methods. An alterative view will explain caring as a discursive practice instead of a rigid entity while informing on the role of the concept in the nursing practice. A poststructuralist view perceives caring as deputation rather than a guiding concept that can c ater for extensive research in caring theory. Lastly the paper will examine the

Communication Styles Web Field Trip Essay Example | Topics and Well Written Essays - 250 words

Communication Styles Web Field Trip - Essay Example 2. Reviewing the questionnaire item by item, can you find aspects of communication in which you are either nonassertive or possibly too assertive? Do you think that your communication style can be improved by making adjustments within these areas of communication? From the questionnaire, I find that I am non-assertive in situations where I am confronted with difficult situations because I do not want to deal with confrontations. Another area where I found out that I am not very assertive is when I am unable to express my anger and frustration with a friend even if it is justified. The reason for this is because I do not want to offend him or hurt his feelings. I also realized that I am assertive in instances where I have to make a phone call to institutions. I think that my communication style can be improved especially in situations where I am non-assertive. In dealing with my anger towards a friend, maybe I should try to control my emotions and be more level-headed at dealing with my friend. I should also try to choose my words carefully so as not to hurt his feelings.

Performance Evaluation of Banking Industry in Bangladesh Essay Example for Free

Performance Evaluation of Banking Industry in Bangladesh Essay Banking is an essential industry that affects the welfare of all other industry and the economy as a whole. In fact, growth and development of a country significantly depend on the level of growth and development attempted by the banking sector. There is a consensus regarding the positive role played by the financial sector in promoting economic development (Gerschenkron, 1962; Patrick, 1966; Galbis, 1977). In Bangladesh, banking sector has flourished a lot compared to other sectors of the economy. But the role of this key sector in national development is not satisfactory. There is not only an extremely strong capital stock but the rate of capital formation is also very meager. The current rates of domestic savings and investments as a % of GDP are 20.2 and 24.4% respectively (Bangladesh Bank Annual Report 2004-05). In the past, the rate of savings and investment were much lower than the present rate. Therefore, development plans of Bangladesh have been largely aid development. Between 1972-73 and 1981-82, aid has financed on an average of 75% of fixed investments and the lions share of the development budget (ERD). Under these Circumstances, internal resource mobilization is an urgent necessity for a self-reliant Bangladesh. Towards this end, banking Industry may play a crucial role in mobilizing community’s savings and channeling the same into the socially desirable sectors of the economy. As financial intermediaries, banks can play a crucial role in of most economies. In the absence of effective functional securities market, the banking sector in Bangladesh takes the lead in mobilizing resources and allocating funds to profitable ends. The effectiveness of financial intermediation can affect economic growth. The financial intermediation affects the net return to savings and gross return to investment. The prominence of financial institutions for rapid economic growth is unanimous. The bank based view of financial system highlights the positive role of bank in mobilizing resource, identifying good projects, monitoring managers and managing risks. The role of banking institutions as intermediary between the investor and entrepreneur is of vital importance in a developing country like Bangladesh. The evaluation of Banks performance is a complex process involving interactions between the environments, internal operations, and external activities. In performing this evaluation concerned authorities in the banking sector prior to independence felt for resource mobilization and using the same in the desired sectors. For this reason all the commercial banks were nationalized immediately after independence (Bhattacharjee, 1989). Development of private sector is essential to cope with the challenges of globalization. But considering the socio-economic condition of Bangladesh, extreme privatization, particularly in the banking sector, may not be desired. Because, even though, the number of private banks (local foreign) are increasing and the number of nationalized banks are decreasing, still the NCBs occupy a dominant place in the banking sector of the country and play a pioneering role in capital formation, stimulating the level of industrialization, poverty alleviation and human development and in the overall economic development. NCBs provide loans to productive and priority sectors both public and private covering agriculture, industry, trade and commerce. On the contrary, private banks mainly operate in towns and metropolitan cities and do business with noted entrepreneurs and with the affluent sections of the society; while foreign banks operate only in the cities and do business with the elite section of the society. Hence, this paper focused on the performance of the banking sector in general with a wider lance. As financial intermediaries, banks can play a crucial role in the most economies. In the absence of effective functional securities market, the banking sector in Bangladesh takes the lead in mobilizing resources and allocating funds to profitable ends. The effectiveness of financial intermediation can affect economic growth. The financial intermediation affects the net return to savings and gross return to investment. The prominence of financial institutions for rapid economic growth is unanimous. The bank based view of financial system highlights the positive role of bank in mobilizing resource, identifying good projects, monitoring managers and managing risks. The role of banking institutions as intermediary between the investor and entrepreneur is of vital importance for a developing country like Bangladesh. So the study is a demand of the time for better progress towards a developed future. 2.0 Conceptual Background of the Study Performance indicates the degree of management’s success in allocating the sources of the firm’s capital to productive use and is focused in the in the market value of the firm’s capital. Performance may be defined as the accomplishment of the goals which are taken into consideration. The word performance may be the synonym of efficiency in the context of business phenomenon. Many scholars opined that performance of a firm may be considered as the term managerial performance. An evaluation of performance indicates to what extent an enterprise achieves its target. Evaluation is a judgment worth of something and like all judicial matters, it calls for justice, equity and good conscious on the part of the person making the evaluation. It is to be considered an integral part of the management control on a continuous and systematic basis. Performance evaluation is an essential tool of management. It is relevant both in seeking answer to various questions to be asked about area of activities in which performance might be improved. The main purpose of performance evaluation is to assist in decision on two levels i.e. at a lower level. It can be used to inform the day to day decision making of the management indicating how to maintain the efficiency and effectiveness of the banks in short term. At a higher level it can be used to inform the annual planning and budgeting process in which decisions are taken about the long term deployment of resources and target for achievement. Thus it can be said that performance evaluation means a method under which the performance of an organization is evaluated differently. In Bangladesh performance of banking sector was considered with a very high note from the very beginning. It was felt that new born liberated country will need the performance of banking sector to keep the economy live. In doing so, after the war of liberation, the banks operating Bangladesh(except those incorporated abroad) were nationalized. These banks were merged and grouped for achieving the goal of government and people. With the passage of time the number and types of bank expanded and the area of banking support is also enlarged vividly. For this, study becomes a necessity to find out loop holes as well as areas so that service can be expanded towards all necessary ends. For doing so banking industry plays a pivotal role in capital formation and stimulate the level of industrialization, poverty alleviation and human development. In a sense, healthy banks and healthy economies seem to go together. Therefore, performance of such organizations particularly; operational efficiency, management soundness, productivity, profitability and social profitability are of great concern. An in-depth study to analyze the performances of the banking industry of Bangladesh by applying the most widely used indicators of bank performance could be worth while. The banking industry of Bangladesh is composed of five types of banks viz. Nationalized Commercial Banks(NCBs), Specialized banks(SBs), private Commercial Banks(PCBs), Foreign Commercial Banks(FCBs) and Islamic Banks(IBs) differ in their motives. Different types of banks give priority to different stakeholders. So, performance analysis as a whole can make the industry more creative and more supportive to achieve their organizational goal as well as can help the nation to avoid poverty and learn to lead prospective lives. Because , performance analysis as a whole will bring out all loop holes for back benchers in this sector and allow them with information to go ahead with prospective mentality. 3. Objectives of the Study The broad objective of this proposal is to make a comprehensive analysis of growth, productivity, profitability and performance of the banking industry in Bangladesh and to suggest measures for improving their performance. The specific objectives of the proposal are as follows: †¢ To analyze and compare the growth trends of banking facilities/services and output of banking sector as an industry. †¢ To measure and compare the productivity trends of banking sector. †¢ To compare overall performance of the cross section of banks from various angles. †¢ To conduct an in-depth analysis of the causes of lower or higher levels of productivity and performance (if any) among all banks. †¢ To evaluate existing remittance disbursement system and direct its profitable utilization through proper planning and action. †¢ To suggest the possible lines of actions to improve the performance of various categories of banks. 4. Justification of The Study 1. Literature Review From a detail literature review it is found that a good number of researches were conducted in the field of performance evaluation in banking sector. But unfortunately, Performance Analysis of Banking Industry in Bangladesh as a whole was not conducted. As such the literature review of the following articles, journals and research work compelled me to have a distinct idea that a research of having a complete picture of Banking industry is a demand of the time. As such my literature review found following ideas: Abedin, Roy and Mustafi(1989) in a study titled, â€Å"A Preliminary Note on Measurement of Productivity in the Commercial Banks of Bangladesh,† mentioned that there was a steady growth of bank output during 1975-1988. The output was measured as the volume of working fund handled per employees. There were variations in the levels of productivity of different types of banks. They also mentioned about a falling trend of productivity index of private banks with little variations during 1985-88. In case of Foreign banks they reported a sharp fall of productivity index from 100 in 1985 to 37 in 1986, then a rising trend. The limitations of his study were that he did not considered the social aspects of the Banks. The data on working fund were not comparable with any published data of Bangladesh Bank (BB) due to using the end June and end december figures of every year. The study neither attempts to analyze the causes of lower or higher productivity of banks nor strongly suggests the measures for increasing the levels of the banks productivity. Cookson(1989) in his article titled, â€Å"Productivity in the Banking Industry in Bangladesh† stated that productivity in the banking industry is very difficult to estimate by using available data. He also said that the conceptual difficulties limit comparisons among the banks in Bangladesh. In this paper the author tried to give a proper definition of labor productivity in commercial banking. He pointed out that the productivity of the total commercial banking system was stagnant. However, he took a partial approach for measuring productivity of the banks. In no way it reflected the total productivity scenario of the banking sector. Shakoor(1989) ’s paper on â€Å"Measurement of Profitability in Commercial Banks in Bangladesh† investigated the nature of productivity of four nationalized commercial banks(NCBs) during 1972-86 and that of five private commercial banks (PCBs) during 1983-86. The paper focused on some selected indicators of general productivity and profitability, such as deposits, advances, income, spread, expenditure etc. per employee and per branch. He used some statistical measures such as averages, standard deviation and coefficient of variations both NCBs and PCBs. The other statistical measures like, trend, correlation, regression analysis etc. were not used by the author. He observed that the productivity of the NCBs in Bangladesh had an increasing trend during 1972-86 and the productivity of the selected private banks showed better situation when compared with that of NCBs during the period under study. But, his study had limitations and in no way that reflected the total productivity trend of the commercial banking sector as a whole. Bhattacharjee and Saha(1989) in their joint eff0rt titled, â€Å"An Evaluation of Performance of NCBs In Bangladesh† tried to measure the performance of NCBs for th1973-1987. They analyzed the performance of NCBs on the basis of five sets of indicators. They are: (a) General business measures in terms of total business, deposit, advances, gross income and net profit; (b) Social profitability measures in terms of deposit mobilization (time deposit), branch expansion. (number of branches) and employment generation; (c) Branch Performance Measures in terms of profit per branch, deposit per branch, business per branch and gross income per branch; (d) Employee performance measures in terms of profit per employee, income per employee and business per employee; (e) Profitability measures in terms of rate of profit on equity, profit per unit of deposit and profit per unit of advances. The authors found upwards trends in almost all the performance measures. Besides, inter bank and intra bank variations in performance measures were also observed by them. Observing ‘means’ and ‘standard deviations’ of selected measures in NCBs , the authors reported that the NCBs could maintain the rising trends. They mentioned that in spite of disinvestment of two NCBs and growing importance attached to the development of private banking, the NCBs still played a dominant role in the banking sector. They hoped that achievement of the NCB sector may further be enhanced if due care is taken to improve the existing planning and monitoring system of relative operational performance aspects of thee banks. Abedin(1990) in his book titled â€Å"Commercial Banking in Bangladesh: A Role of commercial Study of Disparities of Regional and Sectoral Growth Trends(1846-1986),† examined the role of commercial banks under the private ownership(1846-1970) in increasing regional and sectoral disparities in rendering the banking services in Bangladesh. He also investigated the part played by the commercial banks under the public ownership(1971-1986) in mitigating any such disparities. In this perspective the author tried to critically examine the growth trends of banking facilities in Bangladesh for the period from 1846 to 1986. This study analysed the impacts of nationalization of commercial banks on different regions and sectors of Bangladesh economy after the independence of the country. The author identified some factors influencing credit deployment such as legal requirements of cash reserve, political pressure on the bank executive etc. There are some other important factors, which should not be overlooked. Such as, motivation factor of the bank executives, job security, honesty etc. The study rightly identified that, regional economic disparities led to the growth of regional imbalances in the distribution of banking facilities. The political economy of the monetary policy and banking was also responsible for this(page 260). To discuss about limitations it can be said that, within the scope of a single thesis, to deal with a large number of issues is neither possible nor desirable. The author admitted that many current issues of banking operations could not be analyzed in this dissertation. It would be more worthy and specific if some of the key issues were mentioned. Chowdhury(1990) in his dissertation titled â€Å"An Evaluation of the Performance of Commercial Banks in Bangladesh† assessed the overall contribution of the commercial banks in the financial development of Bangladesh. He analyzed the trend of commercial bank’s branch expansion, deposit mobilization and deployment of credit for the period 1972-86. The productivity and profitability aspects of the Nationalised Commercial Banks (NCBs) and Private Commercial Banks(PCBs) for the period 1983-1986(covering a period of four years) were also examined in the dissertation. The study covered all commercial banks excluding foreign and Islamic banks and used secondary data. The study stated that the growth pattern of the financial development and the contribution of commercial banks towards financial development in Bangladesh was not only uneven but also very slow. The study observed that the growth and development of commercial banking in Bangladesh during 1972-86 was not satisfactory. The author observed that the trends of profits, profitability and productivity of the commercial banks, over the entire reference period, were characterized by uneven variations indicating unsystematic and unplanned business expansion of the commercial banks. The study identified that the frequent variations in the ‘burden’ of the commercial banks was mainly responsible for the uneven trends in profits and profitability. Like any other study , the study had also some shortcomings. The post denationalization and privatization period 1983-86 (four years) was too short in comparison to the pre denationalization or nationalized period 1972-1982 (11 years). The period considered (1983-1986 i.e. four years)for the comparative analysis between the performance of NCBs and PCBs was very early to mature. Since the study measured the productivity and profitability performance using single measures such as ratio of net profit volume of working fund, ratio of total income to total expenditure and ratio of total income to manpower expenses, those measures had limits to justify the results. If some additional measures had been used, then the results might be more realistic. So this study has some limitations and inadequacies which are expected to be minimized in the present study. Moniruzzaman and Rahman(1991) made a comparative study of pre and post denationalization periods in the article titled, â€Å"Profitability Performance of Denationalized Banks- A Comparative Study of the Pre and Post Denationalization Periods.† They Observed that the profitability performance of Uttora Bank Limited and Rupali Bank Limited became unsatisfactory after denationalization. But in the case of Pubali Bank Limited, they observed a Decreasing trend before denationalization and increasing trend after denationalization. The limitations of the paper are that, they had taken into consideration a very short period of three years before and three years after denationalization of the two banks. They did not try to find out why profits of those denationalized banks (Uttora, and Rupali Bank limted) were falling. They used the variables like total expenses , total income, net income and total assets only. They ignored other important variables, such as deposits, advances, number of Bank branches, number if employees etc. So the study was very limited and incomplete.

A Definition of the Word Trust Essay Example for Free

A Definition of the Word Trust Essay When you think of a very special quality everyone should have, trust is the first thing that comes to my mind. Being able to trust someone is very important. We have to trust people in our lives every single day. Trust helps us to have relationships and friendships. Trust is defined as believing in someone in the dictionary. Although this seems simple, it is not that easy to understand and comprehend. Trust has a deep meaning as we continue to grow and change in life. We go through many things that make us change as we live, grow, and experience different challenges. Trust is believing in someone with your whole heart and believing that he or she will take care of it or appreciate it. There are so many types of trust. Three type of trust are: trusting in a family member, trusting in someone special, and trusting in friends. With our family members, we have deep trust. They have been through everything with us and most of deep dark secrets. They have been there for us during the good times and the bad. They watched us go through elementary, middle and high school. Your family has been there to watch you mature and become the person you are today. We have deep trust with them because they took care of us when we were sick or needed someone to cry on. Since we tell them everything, we are the most attached to them. They know when we are acting strange or weird and can tell when we are sad or ecstatic. They share all kinds of memories with us and understand what and where we have been. We let family know almost everything about us. We go back to them when we have nowhere else to go. We trust them with our lives because we know no matter what, that they will always love and care for us. Another kind of trust is trust in someone special or someone that we think is our true love. See more:Â  First Poem for You Essay We tell them everything about us because we believe that they really care. We tell him or her things that we keep to ourselves because we believe that he or she has committed to us. It takes a lot of time to have this kind of trust in a relationship. It takes a lot of time to confide our secrets and personal issues in someone else. When you have such a deep trust with him or her, there should be no secrets. There are no secrets when you truly love each other. This kind of trust is just part of the commitment to each other. In this commitment, you trust each other to be faithful, respectful and to always be there for each other. Another type of trust is the trust between friends. We let our friends know about some of our secrets. We keep the deep dark ones away from them. We also try to hide our past and do not trust them right away because we have had friends in the past betray and hurt us numerous times. We do not trust them right away because we do not know about their life or their past. We do not know where they come from or what they believe makes a good friend. So we as humans hide our feelings and do not trust them. It is only when we spend a lot of time and slowly open up to each other that we become closer and can eventually trust them. Trust cannot be given. It has to be earned. It is not as simple as believing. Trust is earned. When you earn trust, you realize that you can tell him or her anything and they will still be there for you. Trust is not easy to earn though. You have to really believe in the other person and know that they will not let you down. Therefore, trust is very important to humans everywhere. Trust is a huge factor of unity and without it people cannot live in unity. Only you can fully understand trust in your own way. Trust is having a special place in their heart and you having special place for them. Finally, trust is the base for all relationships and friendships. Without trust, we cannot find the true meaning of life. Trust is a must for everything in life.