Customer Service Essay free essay sample

Excellence in customer service is the objective of all organisations wishing to be successful. However, there is often a gap between customer expectations and management perceptions of customer expectations. Organisations often fail to get close to their customers and correctly read their expectations. Customers expect certain things when they walk into a business, and those with the highest level of service will know how to identify those expectations and meet them to the customers satisfaction. However, this process is not as easy as it sounds – customer expectations are a dynamic feature that ebbs and flows regularly in accordance with a wide range of factors. However, when expectations are not met by the performance of your customer service representatives, customer dissatisfaction is the result. Customer Expectations + Service Performance = Customer Satisfaction The quality of your customer service is almost wholly determined by your ability to meet your customer expectations. You can have the greatest service team, but if your customers perceive their needs are not being met, your service reputation suffers. By the same token, companies that don’t spend much time worrying about customer service – but manage to meet customer expectations consistently – are perceived as offering good customer service. Service quality is largely determined by customers perception, which is why meeting customer expectations is an essential part of the process. Identifying Customer Expectations Because customer expectations are an ever-evolving process, it can be very challenging to know precisely what those expectations might be. The best course of action is to take the question directly to your customer base through a variety of customer service research techniques. Have customer’s complete surveys about your products and service. Provide incentive for them to complete that survey, such as entry into a drawing for an enticing prize. Next time you see a customer, ask if his expectations of your business are being met. If not, find out why and what you can do to make your service better. Common Expectations to Consider Some of the most common and basic expectations customers have for most businesses included: †¢ Fast, efficient and accurate service High quality products at a competitive price †¢ Friendly, helpful service staff to provide information and answer questions †¢ Prompt responses to their inquiries, whether online, by phone or in person †¢ Sufficient stock to meet their needs without long waits †¢ A trained staff that can handle their questions without referring them on †¢ A clean facility or easy to navigate website All of these expectations comprise the minimum of what your top-notch service should look like. Additional expectations may arise from your customer research, which you can address on an individual basis. Benefits of Meeting Expectations When you are able to accurately identify and adequately meet your customers expectations, your customer service reputation will automatically be enhanced. Some of the benefits of meeting your customers expectations include: †¢ Customers that transform from first-time visitors to loyal clients †¢ Increased sales as customers feel more comfortable doing business with you †¢ More referrals from satisfied customers who bring in additional business by word of mouth There is no doubt that adequately meeting customer expectations is an essential part of a robust customer service department. By accurately identifying those expectations, and meeting or exceeding them consistently, your company is likely to enjoy happier customers and a healthier bottom line. Other reasons for customer service problems include:not listening to or collecting information from customers * poor, or no, focus on the actual design of processes to turn identified customer needs into products and services * gaps between what the organisation intends to produce for its customers and what its systems do actually produce * gaps between what the system is intended to deliver for customers and what it actually does deliver * cost constraints, or failure to set and meet realistic performance standards, which affect what the organisation can actually deliver * poor staff attitudes, training levels and working materials * gaps between what salespeople promise and the actual service or product quality The Voice of the Customer (VOC) is a process that ensures the customers voice is deployed throughout a pro ducts or services design, production, marketing, delivery, and after-sales service. Listening to the Voice of the Customer and incorporating the customers input is essential to obtain lifelong customers. The process is best started by bringing together a cross-functional team of managers who spend several days creating a set of matrices linking what internal management believes are customers wants and needs to a set of product or service matrices which a company can then measure, track and control. As a result of these meetings, a list of customer needs is organized and prioritized. During this phase, the customers requirements, warranty data, product measurements, and competitive offerings are assessed alongside the companys technical ability to meet the requirements. The next phase is led by the product managers/engineering teams. Product concepts are created and specifications drawn with the most important customer needs addressed. In order to organize and evaluate the data, simple tree diagrams are often used. The next step in the process is critical and often neglected: conducting one-on-one, in-depth interviews with the customers. This technique deploys a structured interview lasting 30 minutes to one hour. The discipline behind the interview is to ensure that all areas in the discussion guide will be addressed without limiting the input from the customer to predetermined formats. Customers will often organize and prioritize their needs differently than the insiders.   In new product development, it is critical to solicit the Voice of the Customer to correct undesirable feature sets, determine most desirable value propositions, and understand future uses and applications of a new product. This also gives the customer an opportunity to offer innovative product/service ideas into the development process. Not only does this result in new perspectives, it also increases customer satisfaction and loyalty when their ideas are implemented. Additional research and refinement occurs until the product is launched. Now the Voice of the Customer is needed to assist the company in ensuring it is exceeding customer expectations. Exceeding expectations is extremely challenging as customers continually upgrade their expectations. The involvement in delivering products and services that exceed expectations is the responsibility of everyone in the company. In an on-going effort to dynamically measure customer commitment and track changes over time, Voice of the Customer tracking research was established. Telephone, mail and web surveys are the typical methods of collecting data from customers. Each of these methods has its advantages and disadvantages, all of which need to be evaluated. Speed, confidentiality and cost are the primary item trade-offs in the decision to use a specific method. Questions are developed to obtain information on importance and the satisfaction associated with each performance attribute. A ranking model is then developed to help set priorities. Each customer rates a list of key factors in terms of importance when deciding which of the vendors/suppliers products to buy. Second, each customer rates their satisfaction with the companys products and services as well as competitors products and services on each of the key factors. Customers are usually guaranteed anonymity when responding to Voice of the Customer studies. Care must be taken in the drafting of the documents since an expectation of follow-up and improvement can be created and any lack of follow-up will increase dissatisfaction. If response rates are not adequate, several procedures can be deployed to increase participation, including offering the customer an incentive for completing the survey. Some typical questions from a manufacturer/service provider include: * Why did you choose XXX? This type of question gauges impact and retention of main advertising messages, including point-of-purchase messages. * Have you had a problem with the XXX that required repair or return? If so, what was the general nature of the problem? * If a customer called for support, What was the nature of your contact with us? * How well did the experience match your expectations? A customer who has talked with others about their experience could be asked, What did you say? This type of open-ended question can be coded and then sorted into groups of positive or negative. A chart graphically depicts the overall results from the research. Each of the key satisfaction issues are plotted on the graph with the more important issues (as rated by the customers) being higher on the graph. In this manner, the key strengths and vulnerabilities are charted. An additional analysis is typically performed which determines which customers are likely to remain loyal and which are at risk. At risk customers are those the company is likely to lose because they are highly dissatisfied with the company. This gives a company a measurement of how many customers it may lose to competitors. Over time, a comparison of the results allows a company to see how its situation has changed. Feedback on results, implementation of improvements and areas where additional progress is still desired should be communicated to all employees on a periodic basis. Demographic household information can also be asked and age, income and geographic region can be reported. Listening to the Voice of the Customer and acting on the customers input is the secret to maintaining continuous improvement. Clear, consistent and systematic improvement is necessary to retain customers for life. There are always gaps between what the organisation intends to produce/deliver for its customers and what its systems do actually produce/deliver. So you should delivering products and services in line with customer specifications and the organizations’ business plan depends on: * Identifying customer specifications * Building business plans that will enable the organisation to meet customer needs and expectations * Developing, within the organisation, strategies to manage effective systems that will support delivery of products/service Sometimes organisations meet cost constraints, or failure to set and meet realistic performance standards, which affect what the organisation, can actually deliver. Organizational plans will therefore incorporate control elements designed to prevent disruption, overcome constraints and ensure product/service continuity, quality and consistency. The functions (processes) related to the organisation’s plans need to be of a robust design that is sufficiently insensitive to variation, so that the quality of products/services consistently, and on all occasions, meets customer expectations and needs. Knowledge of good customer procedures is not innate. An effective induction and training program, matched to appropriate performance appraisals will benefit you, your organisation and all the customer/supplier interface members. The best providers of customer service do not randomly employ people and leave them to interpret their employers’ philosophy in whatever way they see as appropriate. They do provide suitable training and support (resources) so that employees know what to do and are able to do it. Organisations should dedicate resources (time and money) for training and reinforcement. Employees should be fully informed about company goals, the products and services. Emphasis and training should be focused upon the importance of listening and responding to the customer’s requests. People can only do the job if they are given the right tools and objectives. It costs money to train people. It will cost more if you decide not to train them. You also should analyze the following gaps: †¢ Gap 1 is the lack of understanding between customer expectation and management perception, i. e. the management does not know what the customers need and expect from their service. Gap 2 is the lack of development between management perception and service quality specification. Here managers are aware of customer expectations but are not committed enough to utilize the knowledge of customer needs and expectations as the basis for defining and specifying service quality standards. This may occur due to ignorance, lack of vision, limited resources. †¢ Gap 3 indicates the gap between service quality specifications and service delivery where the management understands the customers’ desired level of service and specifies an appropriate set of standards. However, service delivery may be of poor quality owing to poor employee performance due to insufficient training. Gap 4 refers to the gap between service delivery and external communication which occurs due to pre-purchase promotional materials communicating unrealistic service levels which cannot be delivered in reality. Again it can stem from being poorly briefed about the service by the sales staff resulting in over promise and under delivery. †¢ Gap 5 is the gap between expected service and perceived service Gap 1 can be closed by: †¢ understanding customer expectations through research, complaint analysis, customer panels †¢ increasing direct interactions between managers and customers to improve understanding †¢ improving upward and downward internal communication For closing Gap 2 it is imperative to establish the right service quality standards by: * communicating and reinforcing customer-oriented service standards * providing requisite training to the managers to enable them to lead employees to deliver quality service * rewarding managers and employees for attaining goals * measuring performance and providing regular feedback * establishing clear, realistic service quality goals * ensuring that employees understand and accept goals and priorities * becoming receptive to new ways of doing business that overcome barriers to delivering quality service. Gap 3 is addressed by ensuring that service performance meets standards through: * clarifying employee roles * ensuring that all employees understand the importance of their jobs * providing employees with technical trainingn  developing innovative recruitment and retention methods to absorb the best talents and build loyalty * training employees about interpersonal skills for dealing with di fficult customers * teaching employees about customer expectations, perceptions and problems * eliminating role conflict among employees by involving them in the process of setting standards * measuring employee performance and link compensation and recognition to delivery of quality service * develop reward systems for employees * empowering employees with decision-making along with accountability * encouraging teamwork * treating customers as partial. Employees by clarifying their roles in service delivery, training and motivating them to perform well in their roles as co-producers. Gap 4 is bridged by  Ã‚  seeking inputs from operations personnel when new advertising programs are being created * developing advertising that features real employees performing their jobs * allowing service providers to preview advertisements before customers are exposed to them * ensuring that consistent service standards are delivered across multiple locations * identifying and explaining uncontrollable reasons for short falls in service performance * offering customers different levels of service at different prices and explaining the distinctions * ensuring that the communication materials reflect those service characteristics that are most important to customers in their encounters with the organization * getting sales staff to involve operations staff in direct interaction with customers * managing customer expectations by informing them the possible and impossible options and the reasons. Gap 5 can be effectively closed by minimal promise and maximum performance.

Shine Essays - English-language Films, Films,

Shine Directed by Scott Hicks, the drama Shine is a formalist masterpiece. Writing the piece as a fiction film gave the author license to alter the events in the story of David Helfgott, a real musician who had a nervous breakdown on his way to magnificence. Geoffrey Rush's portrayal gave life and believability to David, and Rush won an Academy Award for his realistic method acting. He had not only to provide depth to the character, but had additional physical demands placed upon him due to David's irregular speech and his tendency to twitch. Both setting and costume are unobtrusive, allowing the audience to focus on the characters rather than their adornments. The formalistic style allows for manipulation of time, and the film begins in medias reas, jumping back and then foreward as it progresses. The structure is highly fragmented, and much of the action is cyclical. Every element of film composition is elegantly intertwined in this picture, mingling together to form connections and patterns out of seemingly separated things. The film opens with a close shot side-view of the protagonist's face as he smokes a cigarette, smoke drifting up from his lips and into the surrounding darkness. He is talking, but that soon is faded into the sound of rainwater. The rain becomes visible as it replaces David's face in a fade technique, and David enters the frame and walks from the right of the screen to its left, suggesting change and action. He arrives at a restaurant window, peers in, and falls into a strange conversation with the employees. This is now the chronological middle of the story, and, while common in Medieval literature, is a highly unorthodox place to begin a picture. Though this film is more easily classified as a formalist piece, it has outstanding avant garde elements throughout. The transition from the restaurant to the car is masked by the dialogue covering it. Since the acting overrides editing as a way to convey meaning in Shine, Hicks employs many sound motifs to ease editing transitions and make them seem more natural. As the discussion fades and the rain again takes auditory prominence, the scene darkens and the water becomes the clapping of many hands. In this way David eases into a flashback of his childhood. He walks small and silent to the stage for his first competition, and a long shot is used to emphasise the fright and anxiety of the boy. Other transitory devices include David's glasses, his hands on the piano keys, and sometimes a change in his costume, such as when he first plays the restaurant in rags. When he stands to receive his applause, he is dressed much more nicely, now an employee of the establishment. Hicks also employs classical cutting techniques, which depend on the content curve (the moment when the audience has had a chance to assimilate all information presented but not analyse or become bored with it) to determine breaks in scenes. One example of this technique is after David presents his professor with the Rack III and asks "Am I mad enough?" The scene is cut before the professor answers, and the following scene is the professor intensively training David on the very piece. Cutting for continuity is commonly used to condense time while maintaining a sense of the actions taking place between two major events. Preparations for one of David's concerts are edited in such a manner, making a ritual out of the ordeal while not wasting too much time on it. Besides editing, relationships can be suggested through film devices such as proxemic ranges, angles, and reaction shots. After David loses his first competition, his father stares at the ground while walking well ahead of the boy. His father is disappointed, and David is rather unaware of any problem as he innocently plays hopscotch as he follows. The reactions of David's father and his instructor are shown through parallel editing when the announcement of the National Champion does not coincide with their hopes for David. Both are displeased, but Mr. Helfgott simmers with barely restrained anger. Since he was denied music as a child, he forces it upon David and demands greatness from him. Later in the film, David is filmed standing on the second floor of a library balcony as his father calls to him from below. The low angle used when the scene is shot from the father's point of view suggests his decrease in power and his growing respect for his son. Moments before they walked down the hall to

Greed Essay - Enron and Northern Rock Corporate Collapse The WritePass Journal

Greed Essay - Enron and Northern Rock Corporate Collapse Abstract Greed Essay Enron and Northern Rock Corporate Collapse ). Created as a result of a merger between the North East Building Society and the Northern counties Permanent Building Society and the Rock Building Society, the Northern Rock Building Society was in an ideal position to create and further their own business interests. A key area of concern for investors was the fact that Northern Rock derived its capital from depositors until the deregulation efforts of the 1980’s (Marshall et al, 2012). With the relaxation of oversight, it became possible for entities such as Northern Rock to consider and implement alternate solutions for revenue increase that included heavy investment in the stock market and mortgage industry. Complementing the perception of leadership and dedication to the market were statistics that cited Northern Rock as one of the leading mortgage lenders during the period of the early 2000’s (Mclean and Elkind, 2003). With a wish to capitalize as much as possible on the conditions of the growing market, which i ncluded the American mortgage market prior to 2008, Northern Rock leadership opted to invest heavily in the subprime market that generated so much profit during this period (Dawley et al, 2012). This argument suggests that the old industry region that was home to the company’s operations had a direct impact on the initial success and eventual failure of the Ban. This initial overview demonstrates that there was a real drive to produce revenue on the part of both of these companies, which in turn fuelled their need to succeed at any cost. In both cases, Enron and Northern Rock began with a legitimate business foundation, yet desired a continual increase in power and revenue which led to poor decisions and policy implementation. In a very real way, this brief illustration suggests that the success factor prompted these companies to act in the selfish and rash manner that brought about their downfall. 2.2 Companies 2.2.1 Enron The manner in which leadership creates, endorses and implements a company policy is a critical component to any entities day to day operations (O’Connell, 2004). In this case Enron leadership including Ken Lay, Jeffrey Skilling and Andy Fastow were primarily credited with first leading the company to incredible heights, and then engineering the massive failure due to their own incredible greed. Perhaps a leading indicator of the manner of leadership Ken Lay found appealing lay in his continual support of the oil trading company headed by Borget that was deemed acceptable as long as there was a profit, regardless of method (Swartz and Watkins, 2003). Organizational culture built on greed and corruption will continue to breed these same elements throughout any organization (Solomon et al, 2004). In this case Enron leadership’s goal of creating a nature gas stock exchange was driven by the desire to increase market share and revenue. In the beginning this form of innovatio n and aggressive marketing were deemed acceptable, but with subsequent discoveries of accounts including M. Yass, or My ass, created by Borget there was an acknowledgement of corruption (Fox, 2003). Despite Enron initially endorsing Borget and his practices as the scope of the losses mounted, Ken Lay actively denied any wrong doing, taking advantage of the lack of information that he cultivated. The lack of any serious form of financial oversight allowed Enron to create questionable forms of accounting and bookkeeping that extended their perception of propriety (Solomon, 2004). During deregulation effort of the late twentieth century, there was serious contention on the part of the business community that there was a need to reduce regulation in order to benefit the consumer. Leadership at Enron eagerly campaigned on the notion that deregulation would actively increase the capacity for the worker (Swartz et al, 2003). Blaming regulation for higher electricity the lobbyists were largely successful in their drive to remove any meaningful oversight in the industry. This push included a state by state approach that allowed Enron to utilize their regional positions to great advantage, thereby ensuring a smoother experience (Boje et al, 2004). Skilling created concept of an asset lite strategy, or not actually owning the assets, simply bundling and selling the energy, which in turn provided Enron with a potential method to drastically increase revenue with little to no paper trail (Solomon et al, 2014). The summer of 1998 witnessed a bonanza for Enron as there was a perception of volatility that enabled them to drastically capitalize on the market, leading to the perception that Skilling was a genius (Swartz et al, 2003). During this period following deregulation many of the Enron’s greatest profits were made by employees finding loopholes and exploiting these accounting or business practices to the utmost in order to increase revenue (Arnold and Lange, 2005). Again, this policy of attempting to end run regulation only promotes the false ideal that the company or its employees was smarter than the system. Enron has been credited with employing many questionable accounting techniques during their period of operation in order to bolster expectations (Gordon, 2002). This drive to provide a continuous profit for the company led the leadership to adopt accounting practices that did more to obstruct the revelation of negative data in order to maintain profits. A combination of being at the right place in the form of evolving deregulation and belonging to a culture of greed and corruption created the atmosphere that prompted these increasingly poor accounting practices (Macey, 2003). At the heart of Enron’s trouble rests a lack of strong corporate governance and an increasing disregard for public regulation and investor welfare (Vinten, 2002). Beginning with methods that merely bent the rules, the accounting practices at Enron had to become larger in order to account for the burgeoning debt that was being created (Parker, 2005). This form of creative bookkeeping suggests that there was a strong knowledge that operations at the company were not only limited in scope, but there was a need to make as much money as possible at any cost. This form of accounting was illustrated in the Mark to Market accounting expansion that served to misinform investors on accurate valuations, thereby increasing Enron’s value (Shelly, 2011). While essentially legal, the stretching and reinterpretation of the rules allowed Enron to create a wide margin of profit on paper. Further, the use of limited partnership and outside parties increased the level of secrecy and uncert ainty that surrounded every Enron valuation process including the Credit Default Swaps and Collateralised Debt Obligations (Swartz et al, 2010). These measures became necessary in order to provide the company with the means to maintain expectations, bonuses and pensions. From the outset, Enron was out to make money (Jennings, 2002). Each innovation was aimed at delivering the most revenue to the leadership, not the investors. Each decision and example of culture illustrates the greed and ambition of those behind the Enron debacle. In the accounting profession a fair presentation is regarded as an accurate representation of a working operation, creative accounting is identified as flexible practice that best serves the interests of the clients, with fraudulent accounting made up of those that blatantly step outside the law (Buckley, 2011). Enron has displayed an initial fair value accounting method that degenerated into a fraudulent accounting method with evidence that paints a portrait of unrestrained greed, propped up by poor regulation and aided by tacit indulgence of success. There is a clear need to conduct ethical business in order to sustain opportunities (Gill, 2009). This was does not seem to have happened in the case of Enron. This evidence suggests that no matter how Enron had attempted to compensate for poor practice, there could have been no other plausible outcome than failure. 2.2.2 Northern Rock Initially specialising in residential and commercial mortgages Northern Rock quickly became an industry frontrunner under the leadership of Adam Applegarth in 2001(Marshall et al, 2012). This form of leadership actively profited from the prior methods of operation, utilizing the past profit to invest in the present stock market, primarily the growing sector mortgage securities. Linsley and Slack (2013) argue that prior to 2001 Northern Rock projected a ethic of care, which in turn was cited for the intense feelings of betrayal following the collapse of the Bank. There was a sense that leadership of the Bank was overly ambitious in their efforts to capitalize on their existing assets by putting all of the previous savings at risk (Marshall et al, 2012). This suggests that the clientele of Northern Rock expected their leadership to take greater care and substantially less risk. Three primary points including Northern Rocks previous existence as a building society, the local or regional nature of the bank and the appearance of the Northern Rock Foundation bolstered the perception of a caring institution that was out to serve the populace (Linsley, 2013). With the change in policy brought about by a new leader, there was a palpable sense of anger and disillusionment with both Northern Rock and the direction of their investments. It very much seems as if was this effort from the previous eras, the caring and attentive attitude that served to amplify the negativity as the bank began to crumble under the weight of poor leadership and management. With the onset of the subprime collapse in the United States and the massive international recession that followed, it became impossible for Northern Rock to meet its financial obligations, which in turn prompted the failure of the bank (Linsley et al, 2013). The innovative nature of the investment pattern such as the ‘Together’ investment scenario set out by Northern Rock was a stark departure from the mutualisation process of previous eras (Nesvetailova and Palan, 2013). With the ambitious investment goals set out by Applegarth, it became necessary for the bank to move from the 75% per cent income from depositors to a much more modest 25% with the remaining balance being accounted for by investment and loans (Nesvetailova, 2013). As reflected by consumer discontent with the policy decision, the entire process became disliked and heavily blamed for the eventual run on the bank. The new pattern of investment required Northern Rock to pursue securitization in a fashion that created special purpose vehicles in order to allow these securities to become liquid and thereby tradable (Deegan and Unerman, 2011). This process allowed Northern Rock to obscure their accurate worth by essentially hiding these accounts offshore (Scott, 20 08). With an accounting practice that was creative and innovative at the time, Northern Rock utilized this method in order to expand their projected revenues, thereby further enhancing their operations. In order to continue lending at the bank level, mortgages could be sold, or further funds borrowed on the mortgage securities, which in turn kept Northern Rock liquid initially (Gaffikin, 2008). This culture of greed no matter the cost fuelled the leadership drive to not only continue this practice, but expand it to incorporate up to 50 per cent of the Northern Rock operational platform (Deegan et al, 2011). Depending too heavily on any volatile market has the potential to put any operation at risk at any time (Domhoff, 2013). This evidence suggests that Northern Rock was substantially impacted by the subprime mortgage collapse and the inability to borrow money from the lenders. With a business model that was directly dependant on the interbank lending process, this sudden halt of funding was a severe and crippling blow, only enhanced by the need for the bank to have these funds on hand in order to shore up fading public support. The perception of dismay and lack of trust only increased as Northern Rock found itself undercut by rivals with better loan rates (Deegan et al, 2011). With no ready pool of funding available and no one to purchase the securities, some of which were frozen due to questionable value, the internal situation deteriorated to the point of collapse nearly overnight. Regulation and lack of effective constraints in the financial process has been cited as an element of the Northern Rock collapse (Nesvetailova, 2013). There was a sustained feeling that the explosive pattern of growth quickly overwhelmed any regulation effort, which in turn led to unsatisfactory testing and performance assessments. The caring culture that once benefited operations at Northern Rock was transformed to increased discontent with the announcement of the government bailout, which in turn fuelled the run on the bank (Deegan, et al, 2011). This evidence suggests that it was the very elements of safe investment that had given Northern Rock the opportunity for investment initially and that the prudent course of action would have been to maintain a pattern of considerate investment rather than an all-out bid for industry leadership. With the nationalization of the Northern Rock entity, the government became the only remaining investor, shouldering the substantial loss that had once been a thriving multi-generational company (Deegan et al, 2011). 3 Conclusion Both Enron and Northern Rock exhibited similar and distinctly different traits as this study as illustrated. Each of the companies possessed leadership that was very focused on success and revenue. This culture of greed and ambition served to initially propel both companies into positions of leadership which was demonstrated by their drastic increase in value and recognition during the early phases. While both companies began with fair trade accounting methods, there were driving forces behind each entities operation after that period. Enron began to employ outright fraud in their accounting practices, in some cases going so far as to completely create fictional assets in order to maintain viability. In contrast Northern Rock employed creative accounting methods to legally utilize their existing assets to invest in the subprime mortgage market. While Northern Rocks leadership made poor choices, there was no element of blatant fraud as perpetrated by Enron. There was a distinct organisational culture gap between Enron and Northern Rock. The ethic of care environment enacted a perception of interest in the consumers of Northern Rock aided the long term business efforts and sustained operations over generations. Enron was focused on profit and the means to increase profit from the point of inception, creating management techniques that encouraged a liberal interpretation of any regulation, placing revenue generation above the need to present a high level of honesty during operation. A similarity that binds both companies together was the leadership intention to use the open market to increase their net assets. Further, there was a directed action by both management institutions to hide the debt from the consumer and investors in order to prop up their image and brand. Once considered pioneering, creative and innovative the combination of deregulation, massive growth and complex rules provided a wide range of opportunities that these compa nies chose to exploit for their own gain. Each of these entities found itself in the position that required them to borrow money in order to meet expectations. Lacking the means to borrow money was the death knell for both of these enterprises. Northern Rock found itself caught in the subprime mortgage collapse and Enron found itself the focus of scrutiny concerning their assets and true valuation. In the end both Enron and Northern Rock exhibited poor policy decision as well as experiencing bad luck. While there is no guarantee in the business world, large scale deception and fraud will eventually come back to roost. It was the utilization of questionable practice, greed and ambition that served to derail these companies, teaching us all that honesty is indeed the best policy. 4 References Arnold, B. and De Lange, P. 2004. Enron: an examination of agency problems.  Critical Perspectives on Accounting, 15 (6), pp. 751765. Boje, D. M., Rosile, G. A., Durant, R. A. and Luhman, J. T. 2004. Enron spectacles: A critical dramaturgical analysis.  Organization Studies, 25 (5), pp. 751774. Buckley, A. 2011.  Financial crisis. Harlow, England: Financial Times Prentice Hall. Dawley, S., Marshall, N., Pike, A., Pollard, J. and Tomaney, J. 2012. Continuity and evolution in an old industrial region: the labour market dynamics of the rise and fall of Northern Rock.  Regional Studies, (ahead-of-print), pp. 119. Deegan, C. and Unerman, J. 2011. Financial Accounting Theory: European Edition, 2nd Edition, McGraw Hill. New York, NY. Domhoff, G. W. 2013.  The myth of liberal ascendancy. Boulder: Paradigm Publishers. Fox, L. 2003.  Enron. Hoboken, N.J.: Wiley. Gaffikin, M. 2008. Accounting Theory: Research, Regulation and Accounting Practice, Pearson Education. New York, NY. Gill, M. 2009, Accountant’s Truth: Knowledge and Ethics in the Financial World, Oxford, Oxford University Press. 1(1). Gordon, J. N. 2002. What Enron means for the management and control of the modern business corporation: some initial reflections.  The University of Chicago Law Review, 1(1) pp. 12331250. Gordon, R. W. 2002. New Role for Lawyers: The Corporate Counselor after Enron, A.  Conn. L. Rev., 35 p. 1185. Jennings, M. M. 2002. Primer on Enron: Lessons from a Perfect Storm of Financial Reporting, Corporate Governance and Ethical Culture Failures, A.  Cal. WL Rev., 39 p. 163. Khan, M. A. 2011. The Reasons Behind a Corporate Collapse: A Case Study of Enron.Available at SSRN 1923277. Linsley, P. M. and Slack, R. E. 2013. Crisis management and an ethic of care: the case of Northern Rock Bank.  Journal of business ethics, 113 (2), pp. 285295. Macey, J. R. 2003. Efficient capital markets, corporate disclosure, and Enron.  Cornell L. Rev., 89 p. 394. Marshall, J., Pike, A., Pollard, J. S., Tomaney, J., Dawley, S. and Gray, J. 2012. Placing the run on Northern Rock.  Journal of Economic Geography, 12 (1), pp. 157181. Mclean, B. and Elkind, P. 2003.  The smartest guys in the room. New York: Portfolio. Nesvetailova, A. and Palan, R. 2013. Minsky in the Shadows Securitization, Ponzi Finance, and the Crisis of Northern Rock.  Review of Radical Political Economics, 45 (3), pp. 349368. O’Connell, B. T. 2004. Enron. Con:â€Å"He that filches from me my good name†¦ makes me poor indeed†.  Critical Perspectives on Accounting, 15 (6), pp. 733749. Parker, L. D. 2005. Corporate governance crisis down under: post-Enron accounting education and research inertia.  European Accounting Review, 14 (2), pp. 383394. Richardson, S. 2011. From the Invisible Hand to CEO Speak: Enron and a Rhetoric of Corporate Collapse. Russell, D. 2013. Critical Studies on Corporate Responsibility, Governance and Sustainability, Vol. 3Business and Sustainability: Concepts Strategies and Changes.  International Journal of Law and Management, 55 (1), pp. 7476. Scott, W. R. 2008 Financial Accounting Theory, 5th Edition, FT Prentice Hall. Solomon, J. and Solomon, A. 2004.  Corporate governance and accountability. New York: John Wiley. Swartz, M. and Watkins, S. 2003.  Power failure. New York: Doubleday. Vinten, G. 2002. The corporate governance lessons of Enron.  Corporate Governance, 2 (4), pp. 49.

Chrysler Corporation Assignment Example | Topics and Well Written Essays - 750 words

Chrysler Corporation - Assignment Example It serves the market niche- i.e. high-end users that want luxurious cars. It ensures to produce superior products that are highly valued and technically advanced cars. It promises to produce the most fuel efficient, reliable, stylish and safe vehicles for consumers all over the world. Chrysler believes in innovation and creativity, and therefore comes up with new, innovative and technologically advanced vehicles. Chrysler is one of those companies who value their customers a great deal. The second great strength of the company is that it has started to focus greatly on customer care. It is the first auto company to have a Chief Customer Officer. This has generated significant improvement in its customer services and the company has achieved competitive advantage. Their biggest weakness is their poor relationship with their suppliers and dealers. For an organization like this, they strongly have to rely on their suppliers & dealers. They need to work on and build the good relationship with them to ensure a good supply chain. Chrysler’s overall market share is small and declining. According to the Wall Street Journal, 2010 the market share had dropped by 11% from a previous year in 2009 and is now 9.2%. In 2010 the market share was increased to 9.5% which was again not a very significant improvement. Consumers are more interested in fuel efficient, environmentally friendly and innovative automobiles. The demand for greener vehicles is increasing and consumers are becoming more conscious about the environment they live in. It is expected that the market for green cars is going to be 55% by the year 2015. Although Chrysler’s strong points are minivans and SUVs, a partnership with Fiat has created opportunities for the company to penetrate in South American and Asian markets by producing smaller cars.

Comprehensive Emergency Plan for Ashford University Essay

Comprehensive Emergency Plan for Ashford University - Essay Example This report is aimed at developing a comprehensive emergency plan in preparation for natural disasters at Ashford University’s main campus, including incidences of flooding, tornadoes and heavy storms (Continuity of Government & Continuity of Operations, 2003). Each crisis or emergency requires a different type of response. For instance, if there is a bomb threat, it may be necessary to shelter people in place, whereas evacuating the building will be appropriate for other situations like a tornado warning (U.S. Department of Homeland Security). This will ensure that the campus is prepared for the event of a disaster, and analyze the potential responses to the occurrence of such an event. The purpose of this emergency plan is the management of major emergencies and crises in the advent of such occurrences, so as to ensure that major crises and emergencies are handled in an organized way. This emergency action plan is aimed at protecting the Ashford University employees from serious injury, loss of property or life in the event of an actual or potential major disaster. Such situations may include the event of a fire, a bomb threat, earthquake, tornado or a hazardous chemical spill. This emergency action plan will describe the initial routes of action for protection of students and employees and those responsible for the implementation of those actions within the university. This plan is an all-risk emergency plan for addressing disaster and crisis management, and will integrate the various departments of the university and other resources in a coordinated response effort to manage or reduce any loss of life and property through the provision periodic emergency respons e capability tests. It is also necessary to ensure the effective utilization of resources and the minimization of any disruptions in school activities and of programs. It is a fact that preparation for emergencies will ensure a higher margin of safety if a crisis or

Little Women by Louisa May Alcott Essay Example for Free

Little Women by Louisa May Alcott Essay Little Women, written by Louisa May Alcott, is a novel based on a family of four girls, Margaret Meg March, Josephine Jo March, Beth March, and Amy March, and of their family values. Little Women demonstrates strong events based on several family values. The story of the March family is set in New England during the civil war. Throughout this point in time the little women are to survive with out a father figure, as their father has gone to fight in the war. Over long periods of time, the four March sisters had to face the fact that they were very poor and could not receive every thing that they wished for. As the March family stayed home awaiting the return of their father, they were very lucky to receive the fatherly support from an old, wealthy neighbour, Mr Laurence. Overtime the girls formed a tight bond with Mr Laurence and his grandson Laurie. As the March family continues through the hard times in life, they are blessed by the friendship of family and friends. In the Novel the four sisters show that they are very unselfish and are capable of sharing what little things they have with others. Even though the girls realise (Amy especially) that they are suffering poverty and are not able to receive everything that they wish, they are very grateful for what they have. The March sisters tend not to make a fuss mainly because whilst their father is away life gets tough with only a mother figure around. Not far away from here lies a poor old woman with a little new born baby. Six children are huddled into one bed to keep from freezing, for they have no fire. There is nothing to eat over there; and the oldest boy came to tell me they were suffering hunger and cold. My girls, will you give them your breakfast as a Christmas present? pg 20 In the chapter A merry Christmas this here is a great example of how generous the March family is even though the have so little themselves. The girls were very disappointed to give their food away but knew that there was a family suffering severely without any food, so they decided to the right thing. In Little women the four March sisters show loyalty by looking out for each other. Through the hardest times in life the girls manage to stick by each other and along the way on their journey they learn from their mistakes. Meg, Jo, Beth and Amy are not your everyday type of sisters who may fight a lot with one another. The girls infrequently have fights because they are so alike, they are so kind to one another and share anything they have for that is all that they do have. I let the sun go down on my anger; I wouldnt forgive her, and today, if it hadnt been for Laurie it might have been too late! How could I be so wicked? said Jo half aloud, as she leaned over her sister, softly stroking the wet hair scattered on the pillow. As if she heard, Amy opened her eyes, and held out her arms, with a smile that went straight to Jos heart. Page 115. Even though the girls make mistakes they learn from them and are persistent never to make that same mistake again. Through out the novel looking out for each other is a true family value and by doing this the girls manage through life a lot easier. Life becomes more interesting when family and friends are together. Its not until later on in life when the March girls realise that their next door neighbours are not close and that they ought to become neighbourly with one another. It is here in the novel where all the sisters begin to loosen up and enjoy the new company of the Laurence boy. At first the girls are a bit timid because they are embarrassed by the fact that they are so much poorer to Laurie, but after first impressions the girls really begin to bond with Laurie and they form a tight friendship. We are not strangers, we are neighbours, and you neednt think youd be a bother. We want to know you, and Ive been trying to do this ever so long. Page 70.Through the novel it is important to be able to have the love and support of friends and family so that it makes life easier through the difficult and depressing patches. In conclusion Marmee only wants best for her girls, but in her eyes this does not mean the wealthiest man that the girls can get their hands on this means, happiness and security from the one they tend to spend their rest of their lives with. Money is a needful and precious thing,-and, when well used, a noble thing,-but I never want you to think it is the first or only prize to strive for. Id rather see you poor mens wives, if you were happy, beloved, contented, than queens on thrones, without self- respect and peace. If along the way the girls did not have one another and there values then Meg, Jo, Beth and Amy would struggle more then what they already do. Through out the novel family values are very important and are expressed in many ways, not only through family but close friends too. The March sisters go through life with the love and support of each other and share an amazing journey.

Varying Patterns of Speciation Essay -- Wallaces Line Plate Tectonics

Varying Patterns of Speciation Wallace’s line, located in the Malay-Archipelago, is one of the best known and most studied boundaries of zoogeography in the world. It is a transition zone between the islands of Borneo and Sulawesi and the islands of Bali and Lombork, which marks both the convergence and division of the diverse flora and fauna found in the Asian (Borneo, The Philippines, and Western Indonesia), and the Australian regions (Sulawesi, Eastern Indonesia, Australia, and New Guinea) (Schulte 2003). The hypothetical line was first proposed by Alfred Russel Wallace in 1858 after observing many morphological differences of various bird species in the Asian and Australian regions (Raven 1935). In the past, to confirm the placement of Wallace’s hypothetical line, researchers have applied the theories of plate tectonics and continental drift in order to create geographical reconstructions of land masses. From this information, researchers were able to substantiate a majority of the boundaries of the originally drawn line. Presently, however, due to the enigmas found on the island of Sulawesi, a portion of the line between Borneo and Sulawesi (Celebes) still remains uncertain (Whitmore 1981). Researchers have identified two genera that contradict the location of the line: the macaque monkey (Macaca species) and the Sulawesi toad (Bufa celebensis) (Evans et al. 1998). Whereas geographical phenomena such as tectonic plate shifts, rising and falling sea levels, and climatic fluctuations have caused the morphology of the Sulawesi toad to remain fairly undifferentiated, the ancestral macaque monkeys have evolved into seven distinct endemic species. The zoogeography on the eastern and western sides of Wallace’s line... ...esi. Evolution. 57:6:1436-1443. Evans, Ben J., Juan Carlos Morales, Jatna Supriatna, and Don J. Melnick. 1998. Origin of the Sulawesi Macaques (Cercopithecidae: Macaca) as Suggested by mitochondrial DNA phylogeny. Biological Journal of the Linnean Society. 66:539-560. Michaux, B. Land Movements and animal distributions in east Wallacea (eastern Indonesia, Papua New Guinea and Melanesia). Palaeogeography, Palaeoclimatology, Palaeoecology. 112:323-343. Raven, Henry C. 1935. Wallace’s Line and the Distribution of Indo-Australian Mammals. New York. Schulte, James A. II. Jane Melville, and Allan Larson. 2003. Molecular phylogenetic evidence for ancient divergence of lizard taxa on either side of Wallace’s Line. The Royal Society. 270:597-603. Whitmore, T.C. 1981. Wallace’s Line and Plate Tectonics. Clarendon Press. Oxford University Press, New York.