The Corruption Of The Fraud - 1900 Words

Background Dixon, Illinois is a small town of about 16,000 people (US Census, 2015) located approximately 100 miles southwest of Chicago. Until 2012, Dixon’s claim to fame was being the town where, 40th President of the United States of America, Ronald Reagan grew up (City of Dixon). Today, in addition to hosting a future president for 22 years (City of Dixon), Dixon, IL is known as the location of the largest and longest municipal fraud in United States history (Mathieson, 2014). This paper will examine the main players in the fraud; how the fraud was carried out; the laws and procedures violated; the impact of the fraud; and the measures that could have been taken to prevent it. The Fraud Issue This issue at hand in this case is one of embezzlement (Hancox, 2014). In December of 1990 the Treasurer/Comptroller of Dixon, IL, Rita Crundwell, opened up a fake capital account in the city’s name. This allowed her to take city money, deposit it in this account, and withdraw it in her name. For 22 years Rita Crundwell fooled the city of Dixon, the mayor, the City Council, the State of Illinois, and the tenth largest public accounting firm in the United States (Inside Public Accounting , 2015). Drilling down even further, this is a classic billing scheme. According to (Wells, 2013, p. 96), a billing scheme is defined as â€Å"A scheme in which the fraudster causes the victim organization to issue a fraudulent payment by submitting invoices for fictitious goods or services†¦Ã¢â‚¬  As weShow MoreRelatedFRAUD AND CORRUPTION1062 Words   |  5 PagesVALUES AND ETHICS ASSIGMENT: FRAUD AND CORRUPTION TABLE OF CONTENTS Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...3 Ethical issues†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.....3 Impact on organization†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦....3 Measures to be enforced†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..4 References†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦6 INTRODUCTION Fraud and corruption is one of the biggest issues thatRead MoreFraud, Corruption, Theft, Misappropriation, And Fraud1738 Words   |  7 PagesThere is no specific definition for fraud if looked at from different perspectives. The term fraud is used to describe acts such as deception, corruption, theft, misappropriation, false presentation, bribery, fault partnership, forgery etc. Some may even describe fraud as practical process of deception to gain an advantage, or to cause loss to another entity or individual. While some people might not even anticipate to commit fraud, others might do so if they contemplate they have a way to be covertRead MoreThe Corruption Of The Fraud Triangle1640 Words   |  7 Pageslikelihood of fraud increases when the three elements of the fraud triangle come together. Analyze how the three elements of the fraud triangle are important and how all three elements were present in Helen’s case. The three elements of the fraud triangle are Motivation or Pressure, Opportunity and Rationalization. After reading the case, it was revealed that all of the three elements are present the Helen’s fraudulent activities. Motivation: This is a reason for why the fraudsters commit frauds. It providesRead MoreCorruption Of A Fraud Investigation840 Words   |  4 Pagesissues in which fraud examiners and law enforcements agents deal with on a daily basis. The range of complexity vary; however, each case must imply specific procedures to obtain substantial evidence. The procedures vary from profession, which are used to collaborate to build evidence and abide legal aspects. Adherence to legal aspects are important in fraud investigations as such events can be used to dismiss a case. The procedures purpose are to reduce legal ramifications of a fraud investigationRead MoreCorporate Fraud, Greed, Corruption, And Ethics1598 Words   |  7 PagesI. Introduction Corporate fraud, greed, corruption, what company comes to mind when you hear those words? Enron! In this paper we will take a look into the corporate facts and history as well as, stakeholder relationships, organizational trust issues, ethical leadership and ethical culture at Enron. 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Fraud is defined in Webster’s New World Dictionary as â€Å"international deception to cause a person to give up property or some lawful right† (International Journal of Business and Social Science, 2011) Besides, fraud is defined in Black’s Law Dictionary as â€Å"a knowing misrepresentation of the truthRead MoreEssay about Internal Accountants Report to Management1274 Words   |  6 Pagesunderstanding of how our company runs the business and issues that we can face if we enter into this contract. It is vital to visualize the actual impact of occupational fraud and abuse in the company. We also need to know how the US government oversees the accounting fraud and abuse and its affect on the company. What potential corruption schemes to be aware of within our company? Wh at kind of accounting evidence and methods of gathering such evidence to support the financial status review to chooseRead MoreOccupational Fraud : A Glance At Asset Misappropriation And Other Types Of Organisational Fraud Essay1074 Words   |  5 Pages II. OCCUPATIONAL FRAUD – A glance at Asset Misappropriation and other types of organisational fraud Now that we have tolerably defined ‘fraud’, we can move on to explain ‘Occupational Fraud’ which is an internal fraud i.e. generally committed by employees/members associated with an organisation, and more closely related to corporate governance. Occupational Fraud is defined as: â€Å"The use of one’s occupation for personal enrichment through the deliberate misuse or misapplication of the employing

Human Nature, By Jean Jacques Rousseau And Thomas Hobbes

The notion of human nature has always been historically debated. Explores, philosophers, and writers have always come to argue on what is considered to be barbarism, savagery, and civilized. These constructed categories have put a label on people who do not share the same ideas as one another. These different views of human nature have come to propel change and have come to revolutionized human history. Jean-Jacques Rousseau, Michel de Montaigne, and Thomas Hobbes all differ on their ideas of human nature, but they also share common ground. For some of these men the practices of different cultures are categorized as savagery, and for others it has been viewed as noble savagery. Their ideas however have allowed society to view different perspectives of human nature. These perspectives have classified human nature as a way of life, or as an obstacle to what is consider to be the good life. Their ethnographic resources provide a glimpse to all the different cultures and their value to s ociety and history. Cannibalism in many Western societies is usually frown upon or illegal; however, for a tribe located in Antarctic France which is now known as Brazil, cannibalism is considered to be a norm. For many Western thinkers this cultural practice of cannibalism would be an act of savagery, but for Michel de Montaigne this cultural practice is categorized as noble savagery. Montaigne reverses the egocentric belief in the superiority of western culture in his work â€Å"Of Cannibals.† HisShow MoreRelatedModern Liberalism and Political Policies1337 Words   |  6 PagesModern Liberalism Thomas Hobbes, John Locke and Jean Jacques Rousseau’s political philosophies and theories each differ from one another’s, but these three philosophers have all staked their claims as to what man would be like, prior to the formation of the state. This is the State of Nature. 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Case Creve Couer Pizza, Inc Essay Example For Students

Case Creve Couer Pizza, Inc Essay The Emerald Research Register for this journal is available at www. emeraldinsight. com/researchregister The current issue and full text archive of this journal is available at www. emeraldinsight. com/1741-0401. htm An empirical study of performance measurement in manufacturing ? rms Maurice Gosselin ? ? School of Accountancy, Universite Laval, Quebec City, Canada Abstract Purpose – The recent performance measurement literature suggests that organizations should put more emphasis on non-? ancial measures in their performance measurement systems, that organizations must use new performance measurement approaches such as the balanced scorecard and that measures should be aligned with contextual factors such as strategy and organizational structure. The purpose of this paper is to assess the extent to which organizations are following these prescriptions. Design/methodology/approach – A survey of a sample of Canadian manufacturing ? rms was conducted. In the questionnaire , organizations had to indicate the extent to which they use 73 performance measures. They also had to respond to questions about determinants such as strategy, organizational structure and environmental uncertainty. More than 100 organizations responded to the survey. The response rate was 50. 5 percent. Findings – The results show that manufacturing ? rms continue to use ? nancial performance measures. Despite the recommendations from experts and academics, the proportion of ? rms that implement a balanced scorecard or integrated performance measurement systems is low. Furthermore, organizations that use these approaches are not employing more extensively non-? ancial measures than those which are applying traditional performance measurement approaches. This research project also shows that there are some signi? cant relationships between the types of measures and contextual factors like strategy, decentralization and environmental uncertainty. This research ? nally demonstrates clearly that there is a need to develop a theory that explains how ? rms can use their performance measurement system to enhance their performance. Originality/value – This paper provides information on performance measures used by organizations and their association with organizational eterminants. Keywords Performance measures, Performance management, Balanced scorecard Paper type Research paper Study of performance measurement 419 1. Introduction Since the beginning of the 1990s, performance measurement has become an important issue for academics and practitioners. The professional literature has suggested that managers should design new performance measurement systems that include ? nancial and non-? nancial measures. Kaplan and Norton (1992, 1993, 1996) advocated in favor of the design of balanced scorecards. Dixon et al. (1990) and Nanni et al. 1992) proposed the use of integrated performance measurement systems. All these systems would put more emphasis on non-? nancial measures and would enable organizations to give more weight to customers and in ternal processes in their performance The author acknowledges the ? nancial assistance provided by the FQRSC of the Gouvernement ? du Quebec. International Journal of Productivity and Performance Management Vol. 54 No. 5/6, 2005 pp. 419-437 q Emerald Group Publishing Limited 1741-0401 DOI 10. 1108/17410400510604566 IJPPM 54,5/6 420 measurement systems. Overall, this change would help ? ms to improve ultimately their performance. These suggestions have been in general well received in the accounting community according to the large number of books, seminars and professional articles on performance measurement. However, there is not much information on the extent to which ? rms actually use these performance measurement â€Å"innovations†. A few studies have been conducted recently and have revealed that organizations are implementing to some extent performance measurement innovations such as the balanced scorecard (Ax and Bjornenak, 2000; Ittner and Larcker, 1998; Malmi, 2000) . These studies have provided some explanations of the diffusion process for this innovation but have not attempted to establish a closer link between the measures used, the innovation and some contextual factors. The purpose of this paper is to examine what are the measures that manufacturing ? rms use, classify these measures into categories, assess the extent to which ? rms use performance measurement innovations such as the balanced scorecard and integrated performance measurement system and examine the association between the measures and contextual factors like strategy, decentralization and environmental uncertainty. A survey was mailed to 200 randomly selected Canadian manufacturing ? rms to collect data on their performance measurement systems. After extensive follow-up procedures, 101 responses were received. The results show that traditional measures are still widely used and that the proportion of ? rms that have decided to implement new performance measurement approaches is relatively low. Furthermore, the level of performance measurement competence does not seem to be as high as one could expect. More speci? ally, the results show that the types of performance measures used by ? rms are seldom associated to strategy, environmental uncertainty and decentralization. This paper is organized as follows. A brief review of the literature is completed in Section 2. The questionnaire and the data collection process are described in Section 3. The results are described and discussed in Section 4. 2. Empirical research on performance measurement and hypotheses Research on performance measurement has gone through several phases during the last 30 years. In the 1970s, researchers examined how organizations used management accounting systems especially budgeting as tools for performance measurement. In the 1980s, the focus was put essentially on the budgeting process and its impact on performance. The scope of the research on performance measurement began to broaden in the beginning of the 1990s. Dixon et al. (1990) and Kaplan and Norton (1992, 1993, 1996) developed new perspectives and frameworks to organize performance measurement systems. Nanni et al. (1992) suggested that ? ms should increase their level of performance measurement competence. The degree of competence would depend on the ? t between the design of the performance measurement system and the strategy of the ? rm. Kaplan and Norton suggested that the performance of a ? rm would increase with the use of a balanced scorecard. Surprisingly, only a few empirical studies were conducted during the 1990s and they have not really been able to test the extent to which these pre scriptions are followed by organizations and their impact on the performance. Traditionally, management accountants have relied on the use of ? nancial measures to evaluate the performance of cost centers. Since the end of the 1980s, academics, consulting ? rms and practitioners have all emphasized the need to give more weight to non-? nancial measures in performance measurement systems. Despite these recommendations, we may expect that organizations, especially in the manufacturing industries, will still rely mainly on ? nancial measures. Therefore, the ? rst hypothesis is: H1. Firms tend to use more frequently ? nancial measures than non-? ancial measures. New approaches to performance measurement suggest that organizations should use more non-? nancial measures than traditional performance measurement systems. Thus, we may expect that the extent to which organizations use non-? nancial measures will be higher in ? rms that have implemented innovations if performance measurement systems such as the balanced scorecard or integrated performance measurement sys tem. H2. Firms that have implemented a balanced scorecard or an integrated performance measurement system use more frequently non-? nancial measures. The concept of performance measurement competence suggests that organizations use types of measures that ? t with their strategy, their organizational structure and the environmental uncertainty that they face. The type of strategy employed by a ? rm should in? uence the design of the performance measurement system. Miles and Snow (1978, 1994) identi? ed four strategic types of organizations according to the rate at which they change their products and markets: prospectors, defenders, analyzers and reactors. The fundamental difference among these types is the rate of change in the organizational domain. Prospectors are characterized by their dynamism in seeking market opportunities, their capability to develop and produce new products to meet customers’ needs, their investment in large amounts of ? nancial resources related to research and development, and their enhancement of teamwork. They are usually innovators that create change in their respective industries. Defenders have a strategy that is the polar opposite from prospectors. They operate within a narrow product-market domain characterized by high production volume and low product diversity. Defenders compete aggressively on price, quality and ustomer service. They engage in little or no product/market development and stress ef? ciency of operations. Defenders are likely to face a lower level of environmental uncertainty than prospectors (Slocum et al. , 1985; Govindarajan, 1986). Analyzers stand between these two categories, sharing characteristics of both prospectors and defenders. Reactors do not follow a conscious strategy. They are viewed as a dysfunctional organizational type. The premise of the Miles and Snow typology is that prospector, defender and analyzer strategies, if properly implemented, can lead to effective performance. Since prospectors search continually for market opportunities and have a broad product-market domain, they will tend to adapt their performance measurement systems to their strategy and, therefore, focus on non-? nancial measures pertaining to customers, products, employees and quality. Defenders will tend to put more emphasis on ? nancial measures such as variances. Therefore, we may hypothesize that: Study of performance measurement 421 IJPPM 54,5/6 H3. Prospectors tend to use more frequently non-? nancial measures while defenders tend to use more frequently ? nancial measures. Centralization has been used as a proxy for organizational structure in most empirical studies in management accounting. Centralization represents the extent to which the decision-process pertaining to the management of divisions or subsidiaries is centralized. The link between centralization (decentralization) and management accounting systems has been investigated in many management accounting studies (Gordon and Narayanan, 1984; Chenhall and Morris, 1986; Govindarajan, 1988; Gul and Chia, 1994). This research showed that centralization plays a key role in the design of management accounting systems. In the area of performance measurement, Anthony and Govindarajan (1995) suggested that ? nancial measures are more important at higher hierarchical levels and non-? nancial measures at lower levels such as at work centers. Therefore, we may elaborate the following hypothesis: H4. Firms that are more centralized tend to use more ? nancial measures while decentralized ? rms tend to use more non-? nancial measures. Environmental uncertainty is considered as one of the factors that in? uence the design of management accounting system and performance measurement systems. This construct has been studied in several management accounting studies (Tymon et al. , 1998). Gordon and Narayanan (1984) found that organizational structure and perceived environmental uncertainty are closely related and that high levels of PEU are positively associated with organic structures and the perceived importance of broad scope information. Chenhall and Morris (1986) reached the same conclusion. Gul (1991) concluded that, when environmental uncertainty is high, sophisticated managerial accounting systems enhance performance. This research suggests that managers of ? ms operating in a volatile environment attribute more importance to information which is deemed relevant for decision making as opposed to information from traditional systems which is generally produced for the purpose of coordinating and controlling and not for planning. The following hypothesis is based on these ? ndings. H5. Firms that face a higher level of environmental uncertainty tend to use more frequ ently non-? nancial measures in comparison to ? rms that face a lower level of environmental uncertainty. 3. Survey instrument A questionnaire was designed and administered to a sample of 200 Canadian manufacturing. The instrument was divided into ? ve sections. The ? rst section included a list of 73 ? nancial and non-? nancial measures widely used by organizations and mentioned in the professional and the academic literature. A list of the measures is included in Table I. The second section pertained to changes in the performance measurement system. Respondents were asked if they had adopted the balanced scorecard or an integrated performance measurement approach, their overall evaluation of the success of the approach and the degree of ownership of the performance measurement initiative. The third section included Chenhall and Morris’ (1986) instrument on management accounting system. In the fourth section, respondents needed to evaluate on a ? ve-point scale the level of environmental uncertainty and decentralization in their business. The instrument to measure environmental 422 Performance measures Net pro? t Gross pro? t margin Total sales of revenues Pro? t before tax Cost of goods sold Total expenses Total costs by department Amount of raw material inventory Cost per unit produced Amount of ? nished good inventory Total operating cash ? ws Number of worker injuries Total net cash ? ows Inventory turnover ratio Rate of incidence of injuries Backlog in the delivery schedule Number of customer complaints Account receivable turnover Amount of work in process inventory Length of time from order delivery Materials price variance Number of units produced Rate of production capacity or resources used Amount of material scrap produced Return on sales Number of emp loyee hours Number of units of ? nished goods in the inventory Number of customer orders received Rate of incidence of production defects Labor ef? iency variance Level of absenteeism Number of machine or plant hours used Return on investment (ROI) Total of cash receipts Number of customer orders completed Number of unit of material components in the inventory Current ratio Total sales per region Cost reduction resulting from quality product improvement Total of cash disbursements Unit of output per hours of labor used Total sales per employee Number and length of down time Market share Cost quality Return on equity (ROE) Number of warranty claims Mean 4. 76 4. 71 4. 69 4. 57 4. 30 4. 22 4. 20 4. 13 4. 09 4. 08 4. 08 4. 07 4. 05 4. 2 3. 98 3. 95 3. 90 3. 90 3. 82 3. 75 3. 68 3. 67 3. 66 3. 65 3. 62 3. 58 3. 57 3. 56 3. 55 3. 51 3. 50 3. 49 3. 43 3. 43 3. 42 3. 42 3. 40 3. 29 3. 28 3. 27 3. 26 3. 21 3. 20 3. 19 3. 16 3. 16 3. 15 Standard deviation 0. 59 0. 75 0. 77 0. 85 1. 13 1. 04 0. 95 1. 22 1. 14 1. 15 1. 21 1. 27 1. 20 1. 16 1. 29 1. 36 1. 32 1. 20 1. 25 1. 38 1. 46 1. 39 1. 31 1. 49 1. 52 1. 24 1. 50 1. 40 1. 36 1. 53 1. 31 1. 38 1. 56 1. 55 1. 47 1. 48 1. 39 1. 58 1. 32 1. 50 1. 43 1. 44 1. 40 1. 33 1. 38 1. 58 1. 64 (continued) Study of performance measurement 423 Table I. Performance measures IJPPM 54,5/6 Performance measures Customer satisfaction: survey ratings Materials quantity variance Labor rate variance Number of doubtful account receivable Amount of training expenses Total sales per sale representative Unit of output per machine hours used Number of new employees Number of employee hours per shift Percentage of key staff turnover Number of new products Tonnage of production waste produced Quantity of energy consumed Number of new customers Cost per damaged unit produced Unit of output per unit of raw materials used Time-to-market for new products Number of new customer contacts Earnings per share Average sales order Number of lines or products Stock price Unit of output per square foot used Number of removed products Price-earnings ratio Rate of products removal Mean 3. 12 3. 12 3. 10 3. 06 3. 03 2. 94 2. 85 2. 82 2. 75 2. 75 2. 71 2. 69 2. 67 2. 61 2. 53 2. 52 2. 48 2. 40 2. 40 2. 36 2. 27 1. 90 1. 84 1. 81 1. 80 1. 51 Standard deviation 2. 46 1. 51 1. 63 1. 46 1. 37 1. 53 1. 37 1. 34 1. 40 1. 42 1. 40 1. 54 1. 36 1. 37 1. 38 1. 42 1. 32 1. 27 1. 75 1. 28 1. 30 1. 68 1. 04 1. 05 1. 58 0. 80 424 Table I. uncertainty developed by Gordon and Narayanan (1984) was employed. It included six items pertaining to price, purchase, labor, product diversity, selling and distribution costs and quality while the instrument for decentralization referred to 12 decisions. The Miles and Snow (1978) instrument for strategy typing was included in section ? ve. The last section, section ? ve, included questions on background information. The population surveyed consisted of Canadian manufacturing ? rms included in the SIC codes 30-39. A list of ? rms was drawn from the Financial Post â€Å"CanCorp† CD-ROM database. A sample of 200 ? rms was randomly drawn from this list. The questionnaire was sent to vice-president ? nances, CFO or controllers. The names and addresses of managers were extracted from the CanCorp database. To insure that the response rate would be acceptable and to avoid non-responses biases, extensive data collection procedures were performed. An initial copy of the questionnaire was sent with a pre-paid and preaddressed envelope. A follow-up letter was sent three weeks later and another questionnaire was sent six weeks after the initial mail out. A research assistant called non respondents to attempt to know why they had not responded to the survey. These procedures yielded a response rate of 50. 5 percent, 101 responses for an initial sample of 200 ? rms. 4. Results A preliminary analysis of the results of the survey show that manufacturing ? rms are still using to a large extent ? nancial measures. In Table I, the 73 measures were ranked ccording to the mean result of the extent to which respondent use each of the measures. The use of each metrics was measured on a ? ve-point scale ranging from rarely (1) to frequently (5). The results show that ? nancial measures are more frequent ly used by manufacturing ? rms in the sample. Therefore, H1 is con? rmed. The ? rst 11 measures are ? nancial. These measures are: net pro? t, gross pro? t margin, total sales of revenues, pro? t before tax, cost of goods sold, total expenses, total cost by department, amount of raw material inventory, cost per unit produced, amount of ? nished good inventory, total operating cash ? ows. The ? rst non-? nancial measure is the number of worker injuries. Same Sex Marriages EssayFactor 1: customer and product sales Average sales order Cost per damaged unit produced Number of lines or products Number of new customer contacts Number of new customers Number of new products Number of removed products Number of warranty claims Rate of products removal Time-to-market for new products Total sales per region Total sales per sale representative Factor 2: production information Account receivable turnover Amount of ? nished good inventory Amount of material scrap produced Amount of raw material inventory Amount of work in process inventory Cost per unit produced Inventory turnover ratio Net pro? t Number and length of down time Number of unit of material components in the inventory Number of units of ? nished goods in the inventory Number of units produced Rate of production capacity or resources used Factor 3: ? nancial ratio Current ratio Pro? t before tax Return on sales Total costs by department Total expenses Total net cash ? ws Total of cash disbursements Total of cash receipts Total operating cash ? ows Factor 4: employee data Amount of training expenses Level of absenteeism Number of employee hours Number of new employees Number of worker injuries Percentage of key staff turnover Rate of incidence of injuries Rate of incidence of production or service defects Factor 5: non-? nancial ratio Number of employee hours per shift Number of machine or plant hours used Quantity of energy consumed Tonnage of production waste produced Unit of output per hours of labour used (continued) Study of performance measurement 431 Table III. Factors based on the factor analysis IJPPM 54,5/6 432 Table III. Unit of output per machine hours used Unit of output per square foot used Unit of output per unit of raw materials used Factor 6: variance of labour and material Labour ef? ciency variance Labour rate variance Materials price variance Materials quantity variance Factor 7: stock market measures Earnings per share Price-earnings ratio Stock price Factor 8: order and delivery Backlog in the delivery schedule Length of time from order delivery Number of customer orders completed Number of customer orders received Factor 9: quality Cost quality Cost reduction resulting from quality product improvement Market share Number of customer complaints Factor 10: revenues and pro? t Cost of goods sold Gross pro? margin Total sales of revenues Factor 11: return on investment Return on equity (ROE) Return on investment (ROI) Customer satisfaction: survey ratings Factor 12: account receivable Number of doubtful account receivable) Total sales per employee performed. As it is shown in Table V, only a few performance measures were signi? cantly different. Therefore, we cannot con? rm that balanced scorecard and integrated performance system implementers use non-? nancial measures to a larger extent than other ? rms. In the questionnaire, ? rm’s controllers had to type their organizations according to the three statements developed by Miles and Snow (1978). Table VI shows that 35 ? rms were identi? ed as defenders while 21 as prospectors. The remaining 45 ? rms were considered as analyzers (42) or did not respond to this question (3). To test H3, we examine the Spearman correlation coef? ient between the strategy types and the 12 factors that were derived from the factor analysis. The results show that there is a signi? cant negative association between the defender strategy type and factor 1 (customer and product sales), factor 2 (production information) and factor 4 (employee data). Defenders seem to use less frequently these non-? nancial measures. The test shows that de fenders are not using more frequently ? nancial measures. Therefore, the results con? rm partially H3. Pearson correlation coef? cients were used to test H4 about the association between centralization and the type of measures used by manufacturing ? rms. Centralization Number of organizations Adopted a new performance measurement approach Balanced scorecard Integrated performance measurement Other Have not adopted a new performance measurement approach Total 18 12 1 31 70 101 Percent 17. 8 11. 9 1. 0 30. 7 69. 3 100 Study of performance measurement 433 Table IV. Adoption of new performance measures Performance measures Customer satisfaction: survey ratings Amount of training expenses Tonnage of production waste produced Stock price Price-earnings ratio Mean (no PM innovation) 2. 69 2. 83 2. 51 1. 65 1. 59 Mean (PM innovation) 4. 03 3. 38 3. 10 2. 52 2. 31 ( p-value) 0. 0001 0. 0654 0. 0796 0. 0202 0. 0421 Note: The table includes only the measures for which there was a signi? ant difference in the means Table V. Performance measures – t-test for group means Number of organizations Have identi? ed a precise type of strategy Defender Prospector Analyser Have not identi? ed a precise type of strategy Total 35 21 42 98 3 101 Percent 34. 7 20. 8 41. 6 97. 1 2. 9 100 Table VI. Type of strategy used was measured by adding the scores of the hierarchical levels at which 12 decisions are made. The mean and the standard deviation for each of the decisions are included in Table VII. The results in Table VIII show that there is a signi? cant negative association between centralization and factor 6 (non-? nancial measures) which includes eight non-? ancial measures and a signi? cant positive association between centralization and ? nancial measures grouped in factor 12. Therefore, the results con? rm H4. Decentralized ? rms tend to use more non-? nancial measures than centralized organizations. The last hypothesis pertained to the association between environmental uncertainty, measured with the Gordon and Narayanan’s (1984) instrument and the use of ? nancial and non-? nancial measures. Table IX includes the mean and the standard deviation for each of the six items included in the instrument. The results on the correlation be tween the factors and environmental uncertainty are shown in IJPPM 54,5/6 Decisions (level of authority: 1-5) Decide to design a new product Establish the budget level Choose the methods of work to be used Select machinery or equipment to be used Select suppliers Determine labour force requirements Select type or brand for new equipment Decide what type of costing system will apply Dismiss direct workers Determine sale prices Alter responsibilities or areas of work of a line department Determine personnel rewards Total Mean 4. 10 3. 85 2. 57 2. 83 2. 92 2. 94 3. 55 4. 43 2. 85 4. 23 2. 68 3. 81 40. 75 Standard deviation 1. 28 1. 13 1. 22 1. 15 1. 15 1. 01 1. 04 0. 91 1. 17 1. 02 1. 12 1. 16 7. 99 434 Table VII. Centralization Uncertainty Factor 1 Factor 2 Factor 3 Factor 4 Factor 5 Factor 6 Factor 7 Factor 8 Factor 9 Factor 10 Factor 11 Factor 12 Table VIII. Correlation matrix 0. 228 (0. 022)** 0. 18 (0. 861) 0. 178 (0. 076)* 0. 217 (0. 029)** 20. 019 (0. 847) 0. 063 (0. 533) 0. 010 (0. 923) 20. 014 (0. 889) 0. 147 (0. 142) 0. 027 (0. 792) 0. 028 (0. 782) 0. 021 (0. 834) Centralization 0. 133 (0. 184) 0. 020 (0. 846) 0. 090 (0. 368) 0. 120 (0. 230) 2 0. 332 (0. 001)*** 0. 005 (0. 957) 2 0. 148 (0. 139) 0. 090 (0. 370) 0. 047 (0. 638) 0. 022 (0. 828) 0. 125 (0. 214) 0. 194 (0. 052)* Prospector 0. 101 (0. 315) 0. 052 (0. 605) 2 0. 034 (0. 732) 0. 212 (0. 033)** 0. 042 (0. 675) 0. 213 (0. 032)** 0. 078 (0. 438) 2 0. 163 (0. 104) 0. 114 (0. 256) 0. 094 (0. 352) 0. 114 (0. 256) 0. 057 (0. 572) Strategy Analyzer 0. 089 (0. 376) 0. 130 (0. 194) 20. 11 (0. 271) 0. 008 (0. 935) 20. 073 (0. 467) 2 0. 193 (0. 053)* 20. 039 (0. 698) 0. 230 (0. 021)** 0. 002 (0. 983) 20. 125 (0. 212) 0. 027 (0. 791) 0. 057 (0. 575) Defender 2 0. 179 (0. 074)* 2 0. 220 (0. 027)** 0. 100 (0. 320) 2 0. 186 (0. 062)* 2 0. 002 (0. 984) 0. 009 (0. 929) 2 0. 023 (0. 817) 2 0. 020 (0. 844) 2 0. 143 (0. 154) 0. 100 (0. 318) 2 0. 144 (0. 151) 2 0. 117 (0. 244) Notes: *correlation is signi? cant at the 0. 10 level (two-tailed); **correlation is signi? cant at the 0. 05 leve l (two-tailed); ***correlation is signi? cant at the 0. 01 level (two-tailed) Table IX. The use of factor 1 (non-? nancial customer measures), factor 3 (? ancial ratio) and factor 4 (employee data) is signi? cantly associated to environmental uncertainty. Therefore, ? rms that are in a more unstable environment would tend to use ? nancial measures but also non-? nancial measures pertaining to customers and employees. 5. Discussion and conclusion The purpose of this study was to collect some empirical evidence on the level of performance measurement competence in manufacturing companies. The literature has suggested that ? rms should put much more emphasis on non-? nancial measures in comparison to ? nancial measures in their performance measurement systems. This study shows that, despite these prescriptions, ? ancial measures are much more used by controllers than non-? nancial measures. The results of the study which is cross-sectional do not enable the researcher to assess the ext ent to which controllers use ? nancial and non-? nancial measures has changed overtime. It only highlights the importance of ? nancial measures. The conclusions may have been different if the questionnaire had been administered to operation managers. The second aim of this research project was to evaluate to which extent controllers use balanced scorecards and integrated performance measurement systems. These recent innovations are already implemented in 30 percent of the respondents’ organizations. However, the performance measures used in organizations that do balanced scorecards and integrated performance measurement systems are quite similar to those who do not. Only three non-? nancial measures were signi? cantly more frequently used in ? rms that have balanced scorecards and integrated performance measurement systems. There is, at this point of time, a strong need for empirical research on the balanced scorecard to better understand how they are designed and how managers use them. Performance competence is a new concept, introduced by Nanni et al. (1992). It suggests that to be competent, a performance measurement system should measure what is important for the organization and that the measures should correspond to its context. The results demonstrate that there is an association between strategy and the different factors. For instance, there is a negative association between customer and sales measures and a defender strategy and other hand prospectors use more frequently employee data. This association is a demonstration of performance measurement competence. The association between centralization and performance measures was also examined and again some association was found. Study of performance measurement 435 Type of competition Price Quality-based By diversity of products Bidding for purchases or raw materials For manpower For selling and distribution Total Mean 4. 39 4. 26 3. 20 2. 88 3. 00 3. 8 20. 99 Standard deviation 0. 79 0. 80 1. 12 1. 11 1. 17 1. 22 3. 53 Table IX. Environmental uncertainty IJPPM 54,5/6 436 Despite the fact that the implementation of balanced scorecards and integrated performance systems has been highly recommended in the literature, the majority of organizations is not using these performance measurement innovations and is still relying on traditional ? nancial performance measures. The results shows clearly that there is a need to better understand how organizations design and implement their performance measurement systems and how they manage to improve their competence in performance measurement. Notes 1. 0 – Rubber and miscellaneous plastics products; 31 – Leather and leather products; 32 – Stone, clay and glass products; 33 – Primary metal industry; 34 – Fabricated metal products; 35 – Industrial machinery and equipment; 36 – Electronic and other electric equipment; 37 – Transportation equipment; 38 – Instruments; and 39 – Miscellaneous manufacturing industry. 2. This database is based on CanCorp plus, the CanCorp Canadian Corporations database produced by Micromedia Limited, and comprises data from the Financial Post data group of Canada. It contains ? nancial and management in formation extracted from the documents of more than 8,000 companies. The database includes major public corporations incorporated in Canada, major subsidiaries, privately held companies, major federal, provincial and municipal crown corporations, all companies listed on the Toronto Stock Exchange and all ? rms in the Report on Business Top 1,000 list. References Anthony, R. N. and Govindarajan, V. 1995), Management Control System, Irwin, Chicago, IL. Ax, C. and Bjornenak, T. (2000), â€Å"Bunding and diffusion of management accounting innovations: the case of the balanced scorecard in Scandinavia†, paper presented at the European Accounting Congress, Munich. Chenhall, R. H. and Morris, D. (1986), â€Å"The impact of structure, environment, and interdependence on the perceived usefulness of management accounting systems†, The Accounting Review, Vol. 61, pp. 16-35. Dixon, J. R. , Nanni, A. J. and Vollmann, T. E. (1990), The New Performance Challenge: Measuring Operations for World Class Competition, Dow-Jones Irwin, Homewood, IL. Gordon, L. A. and Narayanan, V. K. 1984), â€Å"Management accounting systems, perceived environmental uncertainty and organization structure: an empirical investigation†, Accounting, Organizations and Society, Vol. 9 No. 1, pp. 33-47. Govindarajan, V. (1986), â€Å"Decentralization, strategy and effectiveness of strategic business unit in multi business organizations†, Academy of Management Review, Vol. 11 No. 4, pp. 844-56. Govindarajan, V. (1988), â€Å"Contingency approach to strategy implementation at the business-unit level: integrating administrative mechanisms with strategy†, Academy of Management Journal, Vol. 31 No. 4, pp. 828-53. Gul, F. A. (1991), â€Å"The effects of management accounting systems and environmental uncertainty on small business managers’ performance†, Accounting and Business Research, Vol. 22, pp. 57-61. Gul, F. A. and Chia, Y. M. 1994), â€Å"The effects of management accounting systems perceived environmental uncertainty and decentralization on managerial performance: a test of three-way interaction†, Accounting, Organizations and Society, Vol. 19, pp. 413-26. Ittner, C. D. and Larcker, D. F. (1998), â€Å"Innovations in performance measurement: trends and research implications†, Journal of Management Accounting Research, Vol. 10, pp. 205-38. Kaplan, R. S. and Norton, D. P. (1992), â€Å"The balanced scorecard – measures that drive performance†, Harvard Business Review, pp. 71-80. Kaplan, R. S. and Norton, D. P. (1993), â€Å"Putting the balanced scorecard to work†, Harvard Business Review, pp. 134-47. Kaplan, R. S. and Norton, D. P. 1996), The Balanced Scorecard, Harvard Business School Press, Boston, MA. Malmi, T. (2000), â€Å"Balanced scorecard in ? nnish companies: some empirical evidence†, paper presented at the European Accounting Congress in Munich. Miles, R. E. and Snow, C. C. (1978), Organizational Strategy, Structure and Process, McGraw-Hill, New York, NY. Miles, R. E. and Snow, C. C. (1994), Fit, Failure and the Hall of Fame, Free Press, New York, NY. Nanni, A. J. , Dixon, R. and Vollmann, T. E. (1992), â€Å"Integrated performance measurement: management accounting to support the new manufacturing realities†, Journal of Management Accounting Research, Vol. 4, pp. 1-19. Slocum, J. W. Jr, Cron, W. L. Hansen, R. W. and Rawlings, S. (1985), â€Å"Business strategy and the management of Plateaued employees†, Academy of Management Journal, Vol. 28, pp. 133-54. Tymon, W. G. , Stout, D. E. and Shaw, K. N. (1998), â€Å"Critical analysis and recommendations regarding the role of perceived environmental uncertainty in behavioral accounting research†, Behavioral Research in Accounting, Vol. 10, pp. 23-46. Further reading Gosselin, M. (1997), â€Å"The effect of strategy and organizational structure on the adoption and implementation of activity-bas ed costing†, Accounting, Organizations and Society, Vol. 22 No. 2, pp. 105-22. Study of performance measurement 437

Thesis on Pr and Advertising Essay Example

Thesis on Pr and Advertising Essay Summer Internship Report Development Credit Bank Present and Future Report submitted in partial fulfillment of degree of Bachelors of Business Administration (MS) Submitted to: Mrs. Apeksha Huda Faculty Guide Submitted By: Raghav Mehra BBA(MS) 2008-20011 Roll No. A3914708014 Amity School of Business Amity University Acknowledgement I, Raghav Mehra, owe enormous intellectual debt towards towards my dissertation guide Mrs. Apeksha Huda, Faculty, Amity School of Business, Amity University who has augmented my knowledge in the field of marketing and has given me invaluable insight into the subject. I am obliged to him for being extremely patient and helpful towards me and giving me sufficient time for discussion and guidance at all stages of my work. My increased spectrum of knowledge in this field is the result of his continuous supervision in directing me to absorb relevant and high quality information. I would also like to thank our respected Director Mam, Mrs. Alka Munjal for giving me such an opportunity and platform to accomplish my dissertation report successfully. I would like to thank all those people who helped me in the successful ompletion of my project by giving their precious time in filling my questionnaires without which it would not have been possible to complete my project. Raghav Mehra Contents Banking System in India Executive Summary Introduction About the Project Objective Research Methodology Literature Review 1. Public relation 2. Understanding PR 3. Advertising 4. Advertising- types and how to use it in the 5. present Business Scenario 6. The Objective of an Advertiser’s Right Selection 7. Role of media vehicles in Advertisement 8. The Better Tool of Communication 9. An Analysis PR Vs Advertising 10. The Present scenario 11. The Research 12. We will write a custom essay sample on Thesis on Pr and Advertising specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Thesis on Pr and Advertising specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Thesis on Pr and Advertising specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Findings, analysis and recommendations 13. Future of advertising Banking System in India Currently, India has 96 scheduled commercial banks (SCBs) 27 public sector banks (that is with the Government  holding a stake), 31 private banks (these do not have government stake; they may be publicly listed and traded on stock exchanges) and 38 foreign banks. They have a combined network of over 53,000 branches and 49,000  ATMs. According to a report by ICRA Limited, a rating agency, the public sector banks hold over 75 percent of total assets of the banking industry, with the private and foreign banks holding 18. 2% and 6. 5% respectively In the early 1990s, the then  Narsimha Rao  government embarked on a policy of  liberalization, licensing a small number of private banks. These came to be known as  New Generation tech-savvy banks, and included Global Trust Bank (the first of such new generation banks to be set up), which later amalgamated with Oriental Bank of Commerce,  Axis Bank(earlier as  UTI Bank),  ICICI Bank  and  HDFC Bank. This move, along with the rapid growth in the  economy of India, revitalized the banking sector in India, which has seen rapid growth with strong contribution from all the three sectors of banks, namely, government banks, private banks and foreign banks. The next stage for the Indian banking has been set up with the proposed relaxation in the norms for Foreign Direct Investment, where all Foreign Investors in banks may be given voting rights which could exceed the present cap of 10%,at present it has gone up to 74% with some restrictions. The new policy shook the Banking sector in  India  completely. Bankers, till this time, were used to the 4-6-4 method (Borrow at 4%;Lend at 6%;Go home at 4) of functioning. The new wave ushered in a modern outlook and tech-savvy methods of working for traditional banks. All this led to the retail boom in India. People not just demanded more from their banks but also received more. Currently (2007), banking in India is generally fairly mature in terms of supply, product range and reach-even though reach in rural India still remains a challenge for the private sector and foreign banks. In terms of quality of assets and capital adequacy, Indian banks are considered to have clean, strong and transparent balance sheets relative to other banks in comparable economies in its region. The Reserve Bank of India is an autonomous body, with minimal pressure from the government. The stated policy of the Bank on the Indian Rupee is to manage volatility but without any fixed exchange rate-and this has mostly been true. With the growth in the Indian economy expected to be strong for quite some time-especially in its services sector-the demand for banking services, especially  retail banking, mortgages and investment services are expected to be strong. One may also expect MAs, takeovers, and asset sales. In March 2006, the Reserve Bank of India allowed Warburg Pincus to increase its stake in Kotak Mahindra Bank (a private sector bank) to 10%. This is the first time an investor has been allowed to hold more than 5% in a private sector bank since the RBI announced norms in 2005 that any stake exceeding 5% in the private sector banks would need to be vetted by them. In recent years critics have charged that the non-government owned banks are too aggressive in their loan recovery efforts in connection with housing, vehicle and personal loans. There are press reports that the banks loan recovery efforts have driven defaulting borrowers to suicide. Executive Summary Today’s business world has become very competitive. To keep pace in this competitive environment it is very necessary for a marketer to communicate about the company’s offerings to consumers. All the element of promotional mix work to communicate with the audience. Marketers use communications in an attempt to persuade customers to act in a desired manner. Thoughts about the Future of Advertising Skeptics who forecast the demise of advertising ignore the fact that business and other enterprises have an innate need to communicate with their publics. The real question is not will advertising continue to be an important tool of business communication but simply, what forms will advertising take in the future? Certainly a host of issues related to change face the advertising business. Such issues include the relative importance of the various types of advertising over time, who will pay for what, what controls might be appropriate in light of the changing media environment, and so on. While changes and improvements in traditional mass media continue to occur, a massive change is underway which blends the efficiency of traditional mass media and the marketing potential of one-to-one interactivity. Examples of this blending include, most importantly, the internet, but also personalized supermarket checkout coupons and personal in-flight video screens. Now the issue arise how advertisers can participate in the development of such media to the benefit of all the parties involved. Development Credit Bank A Quick Brief A new generation private sector bank, Development Credit Bank (DCB) is the preferred banking services provider across 80 state-of-the-art branches across 10 states and two union territories. The Bank has recently launched several value added initiatives and intends to become one of the country’s preferred and profitable private sector banks, providing a comprehensive suite of â€Å"best in class† products for customers in Retail, SME and Corporate Banking market segments in chosen geographies. DCB has deep roots in India since its inception in the 1930’s. Its promoter the Aga Khan Fund for Economic Development (AKFED) holds over 23% stake. AKFED is an international development agency dedicated to promoting entrepreneurship and building economically sound enterprises in the developing world. It had co-promoted HDFC in India in the late seventies. AKFED operates as a network of affiliates comprising 90 separate project companies. Employing over 30,000 people, it reported annual revenues in excess of US$1. 5 billion. The Fund is active in 16 countries in the developing world. The Past Built on over 78 years of trust, tradition and togetherness, DCB was converted into a Scheduled Commercial Bank on May 31,1995, in the wake of India’s economic liberalisation. It was the only co-operative bank, which successfully crossed over and thrived in the face of change. The Bank has a network of 80 state-of-the-art, customer friendly, and conveniently located branches across the states of Maharashtra, Gujarat, Andhra Pradesh, Karnataka, Delhi/ NCR, Rajasthan, Goa, Tamil Nadu, Haryana, West Bengal and the Union Territories of Daman ; Diu and Dadra ; Nagar Haveli. Spreading wings, with the wind beneath Under the table guidance of an experienced Board of Directors and the leadership of a dynamic senior management team DCB strategically aims to enhance its reach and spread, while introducing exciting new banking products for its customers. Seamless, flawless and timely service To adhere to its vision of becoming the gold standard in customer service in Indian banking, intensive training and service quality programmes have been initiated with customer delight becoming the key focus of the Bank. This will become the lifeblood of DCB and act as its key differentiator. Not just a Bank, a Financial Supermarket DCB intends to offer an extensive range of products across its branches. Suitable variants of the basic products like savings and current accounts as well as innovative products such as the ‘DCB Trio’ and ‘Easy Business,’ keep DCB ahead of the pack. Demat Account and a range of investment products like mutual funds, insurance and bonds make the product offering complete. Close to its roots, yet flying high Since its inception, DCB has always taken an active interest in developing low-cost customer deposit products and providing for the needs of small and medium businesses in select regions. It continues to fulfil every consumer need with great enthusiasm. The Bank is also suitably equipped with the latest versions of Finacle from Infosys and Oracle to provide seamless service to its customers. A Bank for its people The pan-India employee teleconferences and introduction of performance-based incentives have already charged the existing work force. Given its reputation for being a non-hierarchical and dynamic organisation, DCB is one of the chosen destinations for aspiring banking professionals. A grip on the future The Bank has an active and robust treasury, managing its interest rate risks nd liquidity by providing an uninterrupted flow of funds, positioning the Bank for future growth. About the Dissertation Objective:- The aim of choosing this bank is â€Å"to provide a guideline to businesses, based on which, they can frame and implement suitable strategies pertaining to the form of Advertising as a part of marketing communication with respect to the continues changi ng business scenario†. The thesis has overall identified the need of Advertising and PR, how is it different from each other and how it is effecting the business of today. We all know that these tools of communication become the bread and butter of any organization. This is because they want to be noticed and known in the business environment. The brief giving how this dissertation aims to find out the true analysis of these two most effective communication tools are: * The research would aim at giving an insight of the importance and need advertising and PR in marketing of products and services with the aim of brand building and recall building initiative. * The research would give an analysis how each of the above affect the present business in Indian scenario and what is its impact on the same. The present status as a tool of marketing communication * The future prospect as a tool of marketing communication * To find out why should a particular company take the strategy of undertaking Advertising or PR as tools of marketing * To examine which is the best tool of marketing among the two. * To find out the perception of advertising from the perspectiv e of customer. Research Methodology Apart from the Secondary data analysis, to give it a back up with the perceptions and suggestions certain methodologies have been undertaken to make this dissertation or thesis a more proactive. The research methodology would be kept very simple. The research would concentrate on both Primary and secondary data research, wherein; the following resources have been followed to collect the data. For primary data collection * Questionnaire design * Personal Interviews For secondary data collection * Articles * White Papers * Management Books * Magazines * Internet A total of 60 respondents were selected Filling up of questionnaire- 55 Personal Interviews- 5 This is a very interesting and hot topic in the business scenario. So the businesses should understand, what were there achievements in satisfying there customer in the Indian market, and accordingly should make strategies for the same. All business wants to market itself and so PR and Advertising have become two of the most suitable methods to build the brand, which would help them to be profitable in the competitive world. Thus, the research and the thesis would provide an analysis from all aspect- be it the need, importance, the current status, satisfying the present to fulfill the future. The perceptions and suggestions would give the reader a thorough understanding and help to take future decisions. The total thesis would be made after proper research and inputs from best of the people in the industry. Suitable examples, references of the persons contacted would be provided. Literature Review Chapter 1 Public Relation Public Relations as a subset of marketing communication is becoming increasingly important in India. Public relations helps an organization and its public to adapt mutually to each other. Often, it is a term used to describe both, a way of looking at an organizations performance and a program of activities. The public relations function takes many forms in different organizations, including public information, investor relations, public affairs, corporate communications, employee relations, marketing or product publicity, and consumer service or customer relations. Basic to all public relations, however, is communicating. Well-planned, effectively handled communications are increasingly seen as essential to the success and even existence of organizations and causes in todays changing world. Every organization-government, business, labor, professional, trade, health, cultural, financial, recreational, educational and public service-depends on people. Their attitudes, attention, understanding, and motivation can be critical to the success or failure of an organization or idea. A public relations, at its best, not only tell an organization’s â€Å"story† to its publics, but also helps in shaping the organization and the way it performs. Through research, measurement and evaluation, public relations professionals determine the concerns and expectations of the organizations publics and explain them to management. A responsible and effective public relations program is based on the understanding and support of its publics. PR is a non-personal form of promotional communication but (in contrast with advertising) is a non-paid form. For example many newspapers and magazines regularly carry news about new launches etc with a view to inform their readers. At random if we pick up the Financial Express of 18. 10. 99. Then on page-7 of the newspaper there are three news items: * Sikkim Dairy Products and Ind. Swiss company had introduced a range of fresh and natural cheese. * Mercedes Benz is offering pre-owned (i. second hand) Mercedes at Rs. 12. 5 lakh onwards: against the new Mere price of Rs. 28 lakh. * Navneet Publications has introduced games for children. Since these items of news, even if they occupy newspapers space, they dont have to be paid for by the marketers. This is what is PR of the respective brands. General Features of PR: * Unpaid: Already explained above. * No identified sponsor: Here the news is supposedly given by the PR firms to the respective media, through which the news get published; and not by the company. To that extent it is more believable. In other words when the main objective of communication is to create conviction then PR through independent media exposure may prove to be better than through advertising. * Credibility: Since the news seems to have come from an independent unbiased source it appears more authentic. For instance, on 7. 4. 2000 Times of India Delhi edition carries a news item discussing the virtues of Compaq 7800, their latest offering. This naturally will be believed more by a potential buyer than an advertisement for the same product. * Additional Reach: This information reaches even those who otherwise may decide to ignore an advertisement. More so because while reading a newspaper one may decide that he has bought it to read news not ads. * No/ low cost: Thus as explained earlier, when a Fashion columnist covers the show organized by say Ritu Beri, she only extends her courtesy of an invitation card and may be a cocktail party post fashion show. * No Control: Greatest demerit is that we cannot control PR. Thus, it could be negative PR whereby the product may be criticized. The newspaper may decide to ignore the particular brand, since it may not find it worth publicizing. Chapter 2 Understanding PR Today business success depends not just on new and better products but equally on being heard in public forums. As the country begins to develop new rules of the economic game, business needs a credible presence – with customers, employees, shareholders, financers, journalists, government officials and law makers. This will provide the cutting edge to competitiveness. Dealing with the scrutiny of various interest groups, being heard in various forums through public affairs communication, is what Public Relations is all about. The main functional area of Public Relations encompasses the following aims: * Understanding and analyzing public opinion, attitudes and issues which might have an impact on the organisation’s plans and operations. * Counseling organisation’s management on policy decisions, courses of action and communication with regard to organisation’s social responsibilities. * Researching, conducting and evaluating on a continuing basis, programs of action and communication to achieve informed public understanding necessary to the success of an organization. * Planning and implementing the rganisation’s effort to influence or change public policy. * Managing the resources needed to perform all above. Media is the all-pervasive means of building perceptions and images. When a PR program is planned, each medium gets its own individual consideration. In-depth study of the present communication strategy in your organization marks the beginning of a committed relationship. Even specific short term projects involve being responsive and proactive to public opinion. Our expertise in the consultancy arena is an added advantage. The Activities of PR The basic Activities concerned are: * Media Relations * Editorial Services Media Update * Image ; Brand Management * Event Management * Communication Workshops * Government Relations ; Lobbying * Crisis Management * Employee Relations ; Consumer Relations * Advertisement Management * Corporate Films * Investor Relations * Public Opinion ; Market Research MEDIA RELATIONS This is the first step towards being known in the media. For this, their media relation team needs to give that extra push in generating newer media contacts on a regular basis. The stronger the relationship with the media, the easier it gets to get you covered in the publications and electronic media. The main activities pertain to: * Create strategies to effectively work with the media. * Build proactive relationships with the media that benefit the clients. * Plan, publicize and provide services for press conferences and media briefings. * Work on an ongoing basis to position your company in a positive light. EDITORIAL SERVICES This is a very specialized service wherein, after understanding the client requirements, seasoned client servicing and copywriting experts develop editorial write-ups to get printed in the various target publications. The main activities pertain to: Create support products, including fact sheets, brochures and other forms of marketing material. * Develop news releases, news advisories and media kits, in journalism form. * Pen guest commentaries and letters to the editor for submittal. * Write speeches and presentations. MEDIA UPDATE An active PR campaign for a client goes waste, if the media is not informed about the right things at the right time. The me dia update service helps its clients to stay in news always. The main activities pertain to: * Insight on what to expect from the media in its news and editorial coverage. Advance warning on what reporters may ask and how they may ask it. * Timely updation of newsworthy information to the target media. GOVERNMENT RELATIONS ; LOBBYING It is very important to know how to communicate with all levels of government, in ways they appreciate and understand. Whether the political participation at an event is to be catered to, have the intention to reach a politician on an issue, or simply need an appropriate political invitation list, we can provide access to the policy makers. The main activities pertain to: Conduct thorough, accurate research to acquire an in-depth picture of the community and its governmental structure, policies and procedures. * Cultivate and nurture an effective network of community support. * Implement grass-roots and governmental strategies. * Assist with the prepara tion of public presentations. CRISIS COMMUNICATION Crisis management begins with an audit of potential problems caused by internal or external forces. From the audit, we would identify loopholes, develop necessary internal communications procedures and train your management through simulated crisis. The main activities pertain to: Development of emergency response and communications plans. * Advance planning. * Creation of media and community contact directories. * Media training prior to an actual crisis situation. * Crisis management plans that deal with the media. * Consultation and real-time strategic planning during a crisis. * Day-by-day analysis of media coverage. EVENT MANAGEMENT Today the work of PR is not only restricted to the realm of getting coverages only. It has further advanced to create, manage and publicize events for clients, from international launch to national seminars, from social events to cultural evenings. Whether its a large-scale public event or an industry conference, a splashy product launch or a celebrity night, the PR firms handles events with flair. Original ideas and flawless execution are the only accepted standards. From venue recommendations to the invitation list, the final result is that the events produce impressive and measurable results. The main activities pertain to: * Conceptualize and deliver events of any magnitude * Co-ordinate all third party negotiations and vendor arrangements * Design of all invitations * Dispatch and follow-ups of all invitations Arrangement for special guests of honor, celebrities, politicians, etc. COMMUNICATION WORKSHOPS It is highly imperative for the corporate spokesperson, who would be the face of the company he represents to speak out something awkward or unwanted in any corporate interview with the media. The PR objective becomes prominent in designating corporate spokesperson getting to interact with a senior media personality in ord er to brush up their skills in handling various media queries with poise an d elan. The main activities pertain to: * Briefings on how to communicate with the media. * Insight into what to expect from the media. Tips on how to prepare for an interview. * Mock interviews so you can practice techniques needed to succeed. * Talking points that turn your ideas into concise, quotable statements. ADVERTISEMENT MANAGEMENT An important element of public relations can be an advertising program that supports other communications strategies, such as media relations. But, one needs to strategize the media plan so that it can complement the editorial support effectively. The main activities pertain to: * Research advertising potential and recommend outlets. * Create a comprehensive advertising program. * Write copy for print advertising. Produce print advertising. PUBLIC OPINION AND MARKETING RESEARCH Public opinion research and marketing research provide essential information for strategic deci sion making. The in-house expertise and necessary capabilities to provide clients with the best and most useful strategic data possible is the main idea. A effective Pr would recommends a ‘Comprehensive Reputation Audit Assessment Systems’ (CRAAS) which helps us understand the market perception of the client’s strengths, weaknesses, challenges and its positioning in the market, in order to formulate a proper media strategy. The main activities pertain to: * Identify perception parameters * Map your company perception vis-a-vis your competitors. * Strategies media communication based on the positive perception results. IMAGE AND BRAND MANAGEMENT In the emerging marketplace, the corporate brand and image is being dramatically redefined. While the corporate brand is now understood to be a valuable asset, many companies are struggling to realize its full potential. The corporate branding practice is dedicated to developing the corporate brand as a potent and sustainable competitive advantage, and maximizing its utility to our clients. The main activities pertain to: * Brand Development, (research, segmentation, analysis, identity development, strategic planning) * Brand Expression (targeting, messaging, program execution) * Measurement / Program refinement. EMPLOYEE RELATIONS CONSUMER RELATIONS In the battle for share of mind and market, your internal audiences are the front lines. No corporation or organization can hope to communicate persuasively and productively with outside audiences unless and until it has gotten the message to its own employees, distributors and other business partners. The main activities pertain to: Advising clients on internal communication best practices * To providing editorial and graphic design for magazines, newsletters and marketing materials * Bolstering morale through poster and exhibit design. * Newsletters * Consumer Surveys * Consumer oriented Events * Tie ups and Associations INVESTOR RELATIONS SERVICES The investor relations services are designed to increase your market valu e and broaden your shareholder base. The effective PR strategies would make the respective company standout among the thousands of investment opportunities battling for each investors rupees. After extensive market research, developing and communicating a compelling investment thesis for owning the companys Stocks and Securities following the guidelines and rules of SEBI. The main activities pertain to: 1. Financial Messaging 2. General Investor Relations 3. Pre-IPO Communications 4. Mergers and Acquisitions The PR spend The Rieses still see a role for advertising, but primarily as a defense mechanism for established brands and products, not as a builder of new ones. Public relations specifically publicity and the resulting word of mouth are what really build new brands, they maintain. Most industry executives might dismiss that as a gross generalization but all agree that PR is an important and growing tool being increasingly used by marketers. However, both suffered for year. PR spending has long paled compared to ad spending, given the lack of media expense and relative lack of production expense involved. A 2001 survey by Thomas L. Harris/Impulse Research found consumer-products companies, for example, spend about 0. 05% of revenue on PR. Thats a tiny fraction of the 2% to 10% of revenues such companies ordinarily spend on overall marketing expense. The survey also found that marketers cut PR budgets as a percent of sales from 0. 09% to 0. 07% last year, a 29% drop. The percentage of client PR budgets earmarked for product publicity, however, actually went up five points to 23%, even though total spending on product publicity actually went down 10% to $518 million. In India the Public Relations industry reached a major milestone last year in December with the launch and formation of Public Relations Consultants Association of India (PRCAI), an umbrella body representing all the professional consultancies in India. The PRCAI, mooted by a group of seven leading public relations firms, is a pioneering body that will represent the over Rs. 1 billion industry, which employs more than 8,000 professionals today. Union Budget 2006-07: Public Relations firms ready for service tax The public relations fraternity has welcomed Finance Minister P Chidambarams proposal in the Union Budget 2006-07, presented in Parliament on February 28, to formally bring PR services under the service tax net. The Finance Minister also proposed to raise the service tax rate from 10 per cent to 12 per cent and widen the indirect tax net to double the collections to Rs. 4,500 crore in 2006-07. During 2005-06, the government is likely to collect Rs 23,000 crore as against the budget estimate of Rs 17,500 crore. Speaking about the repercussions of service tax on the PR industry, Perfect Relations Cherian said, I believe the move will lead to consolidation among the small and non-organised PR firms because they may find it diffic ult to cope with the service tax burden. These small firms will ultimately be acquired by bigger firms. Chapter 3 Customer Relationship Management in context to Public Relation Customer relationship management (CRM)  is a broadly recognized, widely-implemented strategy for managing and nurturing a company’s interactions with customers, clients and sales prospects. It involves using technology to organize, automate, and synchronize business processes—principally  sales activities, but also those for  marketing,  customer service, and  technical support. The overall goals are to find, attract, and win new clients, nurture and retain those the company already has, entice former clients back into the fold, and reduce the costs of marketing and client service. Customer relationship management denotes a company-wide business strategy embracing all client-facing departments and even beyond. When an implementation is effective, people, processes, and technology work in synergy to increase profitability, and reduce operational costs. Chapter 4 The Research A research was conducted for making this thesis a more value addition and to provide a basis to the industry to choose the right mix of communication tool for laying down a more successful business. Based on the questionnaire given below, the research was conducted Research Methodology and Data Sources: The research was started with an Exploratory Research, it included interviews. Exploratory Research seeks to investigate preferences and the impact towards the current business scenario. On the bases of this research various hypothesis was framed and tested on the basis of information collected through a survey. The survey was done on the basis of a questionnaire. The following are the factors have been taken into consideration while seeking out the information for the assessment: Methodology used The data collection tools used was: * Questionnaire Personal Interview The personal interview are based on the question â€Å" Which one do you think is more impactful communication tool and how does it create an impact in the present business scenario? The questionnaire comprising of 12 questions covered all the relevant aspects that were required for the survey among 60 respondents. Demographic Profile| Age group 18 years and aboveGender Male and Fe male| Psychographics profile| All the people who were existing customers of the bank and can give their views on the same to let us know their preference level. Geographic location| Chandni Chowk (Old Delhi) branch of Development Credit Bank| Questionnaire CUSTOMER SERVICE RATING APPEAL TO THE CUSTOMERS Dear Respondent, The objective of this survey is to know the point of views of the costumer about the bank and what do they think and level of satisfaction derived from the bank; this would help us in improving our future services. I would be very grateful to you for filling the questionnaire and being a part of this research PART A QUALITATIVE ASPECTS Sl. No. | Services| Ratings| 1. | Cleanliness, Layout, Access to the entrance,Visibility of Signboards| V. Good| Good| Average| Poor| 2. | Space available for sitting / waiting / writing| V. Good| Good| Average| Poor| 3. | Easy availability of loose pay-in-slips,withdrawal slips, DDs / TTs forms ; challans etc. | V. Good| Good| Average| Poor| 4. | Availability of services of staff members for any enquiry, problems or Guidelines for various deposit schemes, theirAdvantages| V. Good| Good| Average| Poor| 5. | General behaviour of the members of staff| V. Good| Good| Average| Poor| 6. | Availability of services at ComputerisedCounters eg. Knowing the balance, Debit /Credit of instruments etc. and delivery of printed Pass Books / Statements| V. Good| Good| Average| Poor| 7. | Expert services available in handling ofimport / export business| V. Good| Good| Average| Poor| 8. | Compliance of standing instructions| V. Good| Good| Average| Poor| 9. | Availability of Complaint Register on demand| Easily availableon Demand| Not available| 10. | Any complaint lodged by you is still to beredressed. If so please put the date of complaintlodged with the branch| None| Not attended (putdate of lodgementof complaint)| B. Quantitative Aspect Sl. No. Staff initiative to minimise waiting hours of the customers at the Counter| | | | 1. | Payment of Cash, Cheques, Demand Drafts| within 15mts. | 15-30mts. | More than30 mts. | 2. | Receipt of Cash in the accounts / purchase ofDDs and in other accounts| within 15mts. | 15-30mts. | More than30 mts. | 3. | Delivery of Demand Drafts / Pay Orders / BankOrders| within 20mts. | 20-30mts. | More than30 mts. | 4. | Delivery of Fixed Deposit Receipts| within 20mts. | 20-30mts. | More than30 mts. | 5. | Updating of Savings / RD Pass Books (Whereentries are not more)| Within15 mts. | 15-30mts. Morethan 30mts. | Morethan 1day| 6. | Issue of Cheque Books in Current / SB a/cs| Within15 mts. | 15-30mts. | Morethan 30mts. | Morethan 1day| 7. | Issue of Statement of Accounts (Manual)| Within 7days| 7-15 days| More than15 days| 8. | Issue of Statements of Acc ounts / Pass Books(on Computers)| Instantly| More than30 mts. | More than1 hour| Findings and Analysis PART A QUALITATIVE ASPECTS Question 1: Cleanliness, Layout, and Access to the entrance, Visibility of Signboards? 69%+25% of people believe on clean layout of the bank Question 2: Space available for sitting / waiting / writing 5%+45% of people believe in space availability of the bank Question 3: Easy availability of loose pay-in-slips, withdrawal slips, DDs / TTs forms ; challans 80% of customer can easily find the required documentations Question 4: Availability of services of staff members for any enquiry, problems or Guidelines for various deposit schemes, their Advantages Question 5: General behavior of the members of staff In both the questions the respondents likes the way they are treated Question 6: Availability of services at Computerized Counters eg. Knowing the balance, Debit /Credit of instruments etc. and delivery of printed Pass Books / Statements The evidences ar e easy to submerge Question 7: Expert services available in handling of import / export business As per requirement customers availing import export services have responded well Question 8: Compliance of standing instructions If possible all complaints are taken on vain Question 9: Availability of Complaint Register on demand Every complain is registered Question 10: Any complaint lodged by you is still to be redressed. If so please put the date of complaint lodged with the branch Every registered complain is solved PART B QUANTITATIVE ASPECTS Question 1: Payment of Cash, Cheques, Demand Drafts Only 2% of bills are not served well Question 2: Receipt of Cash in the accounts / purchase of DDs and in other accounts To maintain the regular cash equity balance Question 3: Delivery of Demand Drafts / Pay Orders / Bank Orders Safe delivery leads safe deposits Question 4: Delivery of Fixed Deposit Receipts With 7. 75% of interest rate on f. ds Question 5: Updating of Savings / RD Pass Books (Where entries are not more) Machines lead to mass and efficient production and services Question 6: Issue of Cheque Books in Current / SB a/cs Question 7: Issue of Cheque Books in Current / SB a/cs Question 8: Issue of Statements of Accounts / Pass Books (on Computers) Desperate times need desperate measures Interviews The personal interview is based on the question â€Å"Which one do you think is more impactful communication tool and how does it create an impact in the present business scenario? † Out of all the interviews, few of the worth mentioning COMMENTS are given as follows. ‘I think D. C. B is more effective since it concentrates on their present customer so well that they can reach a wider mass through word of mouth. If a company want to make itself and its product and services prominent in the market vis a vis its competitors, it should be able to communicate it to the target audience. If you consider this fact that India, is widely a rural country and a huge part of the population is illiterate, you can reach them through attractive and pictorial cum sound based advertisement. Thus, I think the company has a potential to grow and be more effective. ’ Mrs. Gurdeep Kaur Housewife ‘I think today Development Credit bank can do more than just what they are doing. An Advertising can deliver the message to the target audience in a more prominent way that PR. A Company should be in the position to adopt the best communication tool for itself . Although I have seen a couple of advertisements of the bank in the local newspapers but it would be better that the company take a step ahead and work on a better mass media. The present business scenario is very complex, yet interesting. So to keep pace with it as well as the competitiveness, the companies needs to make the right choice’ Ravi Perti Client Servicing, Adcon Services. Comments besides the questionnaire and the inteview Mr. Ashis Nigam: finds the bank to be very good as has recently shifted from H. D. F. C Mr. Bhandari, Medi Slabs: has the best experience in the online banking Mr. Manu Jain: finds staff to be less White Paper On Daily Rituals of the World A recent study by ad agency BBDO Human beings are creatures of habit—the morning coffee with two sugars, the post-lunch brush and floss, the bedtime yoga routine with lights dimmed. Advertisers, on the other hand, often try to break those habits by wedging new products and services into various parts of the day. Now comes ad giant BBDO Worldwide with its latest weapon to help clients get an edge: An extensive global study of daily rituals. Unlike habits or routines, which may be ingrained but carry no emotional meaning, a ritual is described in the study as a defined series of actions that helps us transform from one emotional state to another. Many of those actions involve favorite things, naturally, and BBDOs hope is that the data will help clients insert their products into those rituals. We didnt have categories or brands in mind, says Tracy Lovatt, director of behavioral planning at BBDO North America. We wanted to study the power of rituals in our lives. The study comes at a time when ad agencies are struggling to find new ways to reach customers, and emphasize the value of their work to clients. This is another example of how the richest source of insight comes from observing behavior, says BBDO President and Chief Executive Andrew Robertson. Making Meaning But rituals are something many associate with rites of passage—marriage, death, even the transition to a new season. BBDO, in contrast, came up with five that occur every day in every part of the world: * preparing for battle (the morning ritual), * feasting (reconnecting with your tribe over food), * sexing up (primping), returning to camp (leaving the work place), and * Protecting yourself for the future (the ritual before bed). As part of the study, researchers asked more than 5,000 people in 21 countries how they behave during these five transitional periods of the day. While people in every culture report engaging in rituals for similar reasons, they approach them quite differently. About 41% of Chinese respondents said they schedule sex, for example, while only 3% of Russians do—and 7% of Americans. Nightly Lockdown Fully 44% of Brazilians read in the bathroom, according to the study; in Saudi Arabia, 10% of respondents do. More than half of all Indian respondents surf the Web before leaving the house, while less than one-third of Americans or Canadians do. About 80% of Saudi Arabians pray or meditate before work; in Germany, 3% of respondents do. The rituals that are easiest to understand occur in the morning and evening. Marketers have long appreciated the value of getting a foothold in the tightly scheduled morning ritual, when people tend to stick with a routine and a particular set of products. BBDO participants reported doing an average of seven activities in under an hour, from brushing their teeth and drinking coffee to checking -mail (participants between the ages of 60 and 70 reported the highest rate of e-mail use). BBDO dubbed the period before bed protecting yourself for the future. Thats because the survey found people in self-preservation mode, as they went about locking windows and doors, applying wrinkle cream, and selecting clothes or armor for the next day. Its a brief period, but al so the perfect time to find customers at their most vulnerable. As BBDOs Robertson, a former insurance salesman, puts it: If there was some way to be in the home as people are going through lockdown, you could probably sell a lot of insurance. Broad Categories When it comes to rituals in the middle of the day, the surveys results are less conclusive. That might have to do with the categories BBDO settled on. Feasting, for example, is described as pleasurable and indulgent†¦the ritual that reunites us with our tribes. But the frequency with which people feast vs. simply eating something to stave off hunger isnt clear, and anyone who has organized a midweek meal with busy kids knows that indulgent may not be the best way to characterize the mood. Everyone, too, understands the elaborate preparations that go into sexing up. But the category is a catch-all for everything from teenage girls e-mailing each other to find out what theyre going to wear. Returning to camp, meanwhile, ca n mean anything from sharing martinis with friends to staring zombie-like at the TV with a bag of chips in hand. Watching TV also creeps into both the morning and evening rituals, as do other habits—this perhaps means the same activity serves different purposes at different hours of the day. Even so, marketers may find BBDOs results help them tailor their approach to consumers. For instance, cultures in which a high proportion of people eat on their way to work, such as China, could be more open to portable breakfast food than those that dont, such as Spain. While everybody showers or bathes, a shower gel aimed at Polish consumers might emphasize relaxing qualities, as 84% of them shower at night. A more invigorating message might work better with the 92% of Mexicans who shower or bathe in the morning. Knowing that women in Colombia, Brazil, and Japan apply makeup in their car at twice the global rate could prompt a new approach to the design and marketing of cosmetics. Breaking the Code The challenge is that most consumers are loyal to particular products and patterns, making it tough for marketers to become part of a ritual if another brand is already there. Americans, in particular, said they use the same products every morning, though theyre more flexible about what they use at night. Russians are less predictable—only half of them use the same products as part of their morning ritual, and 19% of them use the same products before going to bed. If theres one constant around the world, its this: Almost everyone gets irritated when their rituals are disrupted. How will clients see the work? BBDO has presented the findings to several so far, and some were willing to share a few comments with Business Week. YUM! Brands Chairman and CEO David Novak, who calls his company maniacal about insight-driven marketing, says the study will provide a fresh, new lens to uncover those insights that lead to positive and lasting changes in consumer behavior. Pepsi-Cola North America Chief Marketing Officer Cie Nicholson called the study intriguing, because we can learn how to build our brands share of life, not just share of market. For Scott Aakre, a vice-president at Hormel Foods (HRL), the Holy Grail is to find a way to break the code and fit into one of these five universal routines sowe might be able to build lifelong relationships between our brands and consumers. Thats a tough challenge. HERE AT DEVELOPMENT CREDIT BANK WE BELIEVE.

Privelege essays

Privelege essays I was born into a string of privileges: racial privilege, financial privilege, sexual privilege, physical privilege, educational privilege. I was born to parents who considered the education and nurture of their children their highest priority; I was born into a time and class in which my gender and religion are little impediment to doing whatever I take into my head to do. I have lived my entire life thus far without ever being robbed of the feeling that anything I want to do or have is, in some capacity, possible. While the element of liberal politics that seems to entail pious self-flagellation on the part of the fortunate can occasionally make me a little queasy in itself, it hardly seems expedient and only marginally sincere I believe that consciousness of this privilege is the first step towards realizing ones own responsibility in this world. That awareness fueled much of my community work in high school. Frankly, few are better equipped in terms of resources to improve the world than people like me, who possess both societal advantage and the will to work, who have what the poet Oliver Goldsmith, two hundred-odd years ago, called the luxury of doing good. The greatest challenge for me is keeping my energy and attention focused on that recognition, without getting distracted by the potential comforts and joys my vantage point offers. I chose to take this class over something more pragmatic (Ec 10, for example, or a Core class) in the first semester of my freshman year of college, with the desire for it to compel me to stay attuned to the outside world. The seductive treasures of this new world are such that Im in danger of becoming insular, of forgetting that I want to make a contribution to the world, not just benefit from it. The quotation read in class last week perfectly articulated my inner conflict, which in its most brutal terms is that between selfishness and altruism: &qu...

Satire in Great Expectations Essays

Satire in Great Expectations Essays Satire in Great Expectations Paper Satire in Great Expectations Paper Essay Topic: Great Expectations â€Å"When you satirize something, it’s usually through feelings and behavior. Satire is exercised through the use of humor, irony, exaggeration, or ridicule to expose and criticize people’s stupidity or vices, particularly in the context of contemporary politics and other topical issues.† In the novel, Great Expectations, Charles Dickens shows readers how he satires human feelings and behavior through Pip’s character. One of the ways Dickens demonstrates this is when Pip turns his back on the ones that love and care about him. First of all, Pip thinks that he is better than Joe and Biddy and is ashamed of them. He ends up turning his back on them when they are basically the only people that love and care for him. For instance, Joe visits Pip in London and apologizes to him for embarrassing him, â€Å"If there’s been any fault at all today, it’s mine. You and me is not two figures to be together in London, nor yet anywheres else but what is privateand understand among friends† (Dickens 257). Even though Pip is embarrassed of Joe and goes to London and abandons him, Joe still visits him and apologizes even though it’s Pip’s problem. Another example is when Pip and Biddy have an argument about Pip’s treatment of Joe. Pip tries to explain to Biddy why he does not want to come visit Joe, â€Å"Well! Joe is a dear good fellow- in fact, I think he is the dearest fellow that ever lived-but he is rather backward in some things. For instance, Biddy, in his learning and his manners† (Dickens 158). It surprises the reader that Pip would say this about Joe since, Pip is full of flaws as well and Biddy and Joe do not turn their backs on him. The final example is when Pip abandons Joe and Biddy for Magwitch. However, he soon comes to the realization for his rejection; â€Å"I would not have gone back to Joe now, I would not have gone back to Biddy now, for any condition-simply, I suppose, because my sense of my own worthless conduct to the