Introduction of e-banking service in HSBC plc bank and what is its Essay

Introduction of e-banking service in HSBC plc bank and what is its impact on the functioning model of a Bank - Essay Example The research approach undertakes a specific design that is "the overall strategy chosen to obtain the information required to answer the research question" (Ghauri and GrØnhaug p 47 2002). The research approach will review the types of research design and data collection methods. The research approach is built on logical relations and not just beliefs. Descriptive research is used when the research question is understood (Ghauri and GrØnhaug 2002). In the research approach, the data measurements are dependent on the obtainment of required information and the quality of the information. The outcome of the research, therefore, is dependent on the measurement procedures used in the collection of the data, and this in turn is dependent on the types of data collection (Ghauri and GrØnhaug p 47 2002). This is an important concept of qualitative research, where the description is either inductive or deductive. Inductive research begins with a question and seeks to describe it, and deductive research begins with the problem by working backwards to the answers. Therefore, this research uses the inductive approach to build the theory from the data gathered to explore possible conclusions towards E-banking - Modifications in SCM (Supply Chain Management of the Bank) and Security issues such as Phising & Pharming. The selected research methodology is a descriptive interview with one manager at HSBC Bank in London. This will be a structured interview that focuses on E-banking - Modifications in SCM (Supply Chain Management of the Bank) and Security issues such as Phising&Pharming. Secondary research is to review published materials such as: articles previous researched etc. which would be analysed to gain a broader perspective of the issue. This brings the question of research strategy. Combining the approach as an inductive, qualitative description with a well-established research strategy will allow for a better

Role of Universities in Research and Innovation Essay

Role of Universities in Research and Innovation - Essay Example Information on research and innovation is necessary for policymakers so that they may be able to see how they can help the universities to promote their innovation and research in the market. Government support is not enough in most institutions. In most cases, universities collaborate with industries in conducting research. Universities have people, units, and function, which are involved in partnership actions that have an effect on technological and economic development. They do this by licensing and spin-offs. Universities differ in the way they organize their programs or activities so as to foster innovation. Research institutions, majorly in the United States, are more concerned about their societies in the recent past. This is because they represent the inner resources of knowledge in those societies (Amidon, Formica & Mercier-Laurent 2005, p.56). Competency of individuals, knowledge and skills and their application has improved significantly in the economy where these individ uals work. Most countries focus on the development, application, preservation, and discovery of all forms of knowledge and skills. These are the humanistic, scientific, and social knowledge. They therefore assist publicly and privately funded universities. The institutions then appreciate these contributions by appropriately contributing to the development in economy. They enhance knowledge linking activities, which improve technology commercialization, enhance workers’ competency, and assist community and organizational change and increase competency of professionals. He also provide social, economic, and cultural organizational analyses to train and educate individuals and to bring individuals and... This paper stresses that universities are directly involved in state and regional innovation processes in many ways. Development strategy emphasize on improving research institution in low and middle-income perspective and placing them at the inner part of development policies. Commercialization and technology transfer initiatives provides the means in which basic research and its market place meet one another. This is where ideas are converted into products, which then drive the new market and business formation. There are several challenges facing universities that need to be tackled for the institution to remain competitive in knowledge economy. One is to reduce student faculty ratio, this needs a plan on operating funds for new enrollment expansion. This needs expansion of faculties and hiring new staff. Many universities invest financially and politically in the development mechanisms of their firms. This report makes a conclusion that the values, economy, capabilities of a community , competence and orientation of workers must all be transforming and developing continuously across a large range of knowledge, changing technology and global conditions. Research in innovation and technology mobility is on a rising field, and its attractive conditions for learning research attract future academic interests. Efforts to improve long lasting capacity building are under acceleration in almost all growing universities. In conclusion, research and innovation are key aspects of knowledge development.

The characteristics between management and leadership

The characteristics between management and leadership This assignment is initially discussing about the characteristic difference between management and leadership, how their skills are engaged in an organisation including with their roles and responsibilities. Then the discussions follows to the main objectives of this assignment, those are (i) Identifying and evaluating the personal and professional skills which are required for a successful manager and evaluating how he/she meets the organisational or personal goals; importantly covering the key managerial/leadership skills such as time management, running meetings, making presentations, stress management, etc. (ii) Providing a range of suitable practical methods for developing or improving those skills (iii) Identifying preferred learning style by using an effective personal audit in order to develop managerial/leadership skills (iv) Developing a workable development plan in order to develop or improve those skills to become an effective manager according to SMART and SWOT analysis (v) Reviewing/monitoring process and feedback what I have undertaken in order to achieve those skills and finally (vi) Concluding how/what I have learned from my analysis and how I can use this similar approach for future development. 1.1 Manager The Manager plays a vital role in order to achieve and improve the productivity and organizational objectives. He/She is responsible for managing, planning, distributing and monitoring the work of their employees, achieving the effective utilization of the organization resources and brings the employees objectives along with the organization objectives. Good managers are born and not made. Managers are autocratic in nature, they do the right things to avoid risk and they formulate the policies/ systems to consistent manner; also they are rigid with their subordinates (Hollingsworth, 1999). Managers mainly rely on strategy, structure and systems (Watson, 1983). 1.2 Leader Leaders are those who involved in the process of setting a new direction or vision for their group to follow and motivating them by satisfying their basic need in order to achieve the common organization goal, it is the process of influencing the performance of the employee by respecting their freedom towards the group goals. Good leaders are made and not born. Leaders are democratic in nature, they do the things right and they wont formulate the policy they use to predict with set examples; also they like risks and flexible with the other group members (Hollingsworth, 1999). Leaders mainly rely on style, staff, skills and shared goals (Watson, 1983). 2.0 Outcome 1 Methods to improve Personal and Professional skills This part of the assignment mainly identifies and evaluates the importance of personal and professional skills which are required for a successful manager and how he/she meets the organisational or personal goals; importantly covering the key managerial skills such as time management, running meetings, making presentations, stress management, etc. In addition, it provides a range of suitable practical methods for developing or improving those skills. 2.1 Skills for successful manager and its importance The managers important role in any organization or workplace is that to manage the people/worker/subordinates in order to meet the organization objective or goal and also promote positive employee motivation and employee morale. The mangers activities are very complex and varied because they have to coordinate with all the organization resource such as human resource, material resource, financial resource and informational resource in order to achieve the overall organization goal (Pride, Hughes and Kapoor, 2008, P187). The role of the manger is very crucial as they have to deal or handle various people. Therefore, the successful manager must have the personal and professional skills which are very essential and listed in page-**; and utilize them in a proper way, so that they can perform their duties and activities efficiently. Personal skills are his/her own development skills in order to achieve his/her career goals in life and it can be continuously developed on day to day basis; For example, wants to become a manager. Professional skills are working environment skills in order to achieve organisation goals and it can be developed and utilized whenever the opportunity arises in the working environment; For example, becoming an effective manager. In practical, the effective manager must have and develop the both skills in order to achieve his/her goals as well as the organisation goals. To be an effective manager at all level of organisation (i.e lower, medium and top level), they need to possess combination of all the skills listed above. Among these skills, the first four are the very important skills to become a successful manager. This part of assignment evaluates how these skills are important and providing a range of best suitable methods for developing or improving these skills, which enables me to meet both organisational and own goals and objectives. 2.1a Evaluation and Methods to develop Time management Time management skill is one of the valuable assets for manager, and it helps how the valuable time is effectively utilized/ managed in order to meet the goals. As time costs money, it is lost and not recoverable if the time is wasted. Therefore successful manager must find every opportunity to save time in order to improve productivity/profit by analysing workload and understanding subordinates capability, controlling time wasting activities, etc. The key elements to the effective time saving/managing skills are listed below: Define the goals to meet the deadline Budget the man-hour or cost Plan and schedule the workload Provide marginal budget for unforeseen workload or changes Prioritize and organise accordingly Distribute the workload to subordinates Review and track the planned task Use and maintain time management log for daily or weekly Control the wastage time and use effectively Guide/encourage the subordinate to improve production Above listed elements of time management skill can be achieved by set of workable practical methods such as procedures, policies, spreadsheets, checklists, etc. For example, Gantt chart for planning and scheduling, time log sheet for consumed budget hour and to estimate balance hour respective to task, Weekly progress report for reviewing/tracking the planned task, etc. As I want to become a manager, I need to develop or improve time management skill. Though majority of this skill and key elements can be developed while working as manager, I have developed lots of key elements of time managing skill while studying this course, in order to achieve the course outcome. For example, time log sheet enabled me to maintain and review how I am spending daily hours (see appendix-**), Gantt chart for assignment work (see appendix-**), etc. 2.1b Running meeting Organising meeting skill is one of the vital skills for the manager, and it helps to get collective decision-making, better focused discussion, to improve the productivity, to motivate the employee, etc to build an effective organisation. Importantly it is a best place to communicate the management/project objectives to team-worker or other discipline employee, to reward the performer, etc (Pocket, 2006, P47-69). The key elements for the effective running meeting skills are listed below: Defining the purpose of meetings Prepare agenda (meeting time, place, chairperson, attendees) Circulate agenda and Invite the participants in advance Welcome the participants with refreshments Clear and focused discussion by using visual aids Encourage group discussion Take notes for agreed outcomes/ actions/ responsibilities Review past meeting outcomes Control and avoid repeated discussion Encourage feedback/idea and questionnaire session Prepare minutes of meeting and circulate Therefore above mentioned components of meeting running skill can be achieved by set of workable practical methods such as procedures, agenda, minutes of meeting, forum, meeting templates, spreadsheets, etc. Though the key elements of this skill can be developed when the opportunity arises probably while working as manager, I have developed lots of key elements of running meeting skill while studying Strategic management course in order to achieve the group task as a chair person for SILVER SPOON group. For example, agenda sheet enabled me to invite participants and define the meeting perspective, venue and time (see appendix-**) and Minutes of meeting enabled to confirm the action plan to group member (see appendix-**), etc. 2.1c Making presentation Presentation skill is one of the important skills for a successful manager in many aspects of their work, and to communicate efficiently in a group of audience. The most important factors to consider in presentations are audience attitudes, actions, needs and responsibilities throughout the presentation. This enables the audience or subordinates in many ways such as time saving or effort, make money, help to take advantage of opportunities, make them more popular and famous, and increase their curiosity and enjoyment (Suzy, 2008, P6-10). The great presentation is a process and combination of the following key elements: Think and research on the topic before presentation Organize the content with introduction, body and conclusion Attract the audience by eye contact, posture, movement, gesture, etc Interact the audience to think, not only listen Deliver the presentation with confidence Use visual aids effectively Overcome presentation nerves and avoid vague language Effective communication skill by oral/written/drawing Keep it short and simple (KISS) Capability of answering the audience questions Therefore above mentioned key elements of presentation can be achieved by set of workable practical methods such as Power-point slides, handouts, seminars, etc. As manager gives presentation in various groups meeting with subordinates/supervisor/ clients, using techniques should be graspable/ understandable by audience. Actually these above mentioned key elements can be developed while working or when the opportunity arises. Though I have gained bit of presentation skill in Strategic management course when presenting SIVLER SPOON group task, I must need to develop this skill, where I have lot of scopes to improve. 2.1d Stress management Stress is one of the persons reactions of the body and mind to change. It is very important for everyone to manage and control the stress, to become healthier and happier. Effected stress produces physiological, psychological, stress related issues on him/her. Manager has high chances of developing stress due to various demands such as task demands, Role demands, Interpersonal demands and Organisational structure. Though it can not be fully avoidable, but it can be manageable by using effective stress management skill (Robbins and Decenzo, 2008, P206). Overstress resulting to decrease the productivity, decrease profit, leading to mistake, etc. Therefore, it is mandatory for manager to have stress management skill in order to avoid stress related problems; that is control or manage the stress by using time management, running meeting, making presentation skills. The stress management skill is the combination of following key elements (Cartwright and Cooper, 1997, P416): Recognise, anticipate, monitor and regulate stressors Redesign the task or work environment Establish flexible work schedules Encourage participative management Include employees in career development Build a good and supportive team Establish fair employment policies Find alternative routes/solutions Actually this is the follow-up skill of Time management, Running meeting and Making presentation. So, the above mentioned key elements of stress management skill can be achieved by using same set of workable practical methods, which used in others. Actually these above mentioned key elements can be developed while working as manager. So I am looking chance for developing this skill. I also feel that, with remarkable development of other managerial/leadership key skills, I can easily develop the stress management skill. Outcome 2 Personal skills audit 3.1 Preferred learning style As I want to become a more effective manager, I need to learn several skills which are listed in page-**. This part of assignment examines my learning style by undertaking personal skill audit, which helped me to identify my current possessing skills, knowledge, abilities, values and preferred learning style along with my strengths and weaknesses in order to achieve my effective manager goal. Appendix-** illustrates the Learning style questionnaire (LSQ) with my answer, and its result proves shows that my preferred learning style is PRAGMATIST. 3.2 Strengths and weaknesses As I am PRAGMATIST, my learning style strengths and weaknesses are listed below: Strengths: Tries to put own ideas, theories and techniques into workplace Innovative and experimental Analyse and evaluate with various options Set targets, and tries to achieve them Works well independently Weaknesses: Acts without caution end up with negative outcome Task oriented rather than people oriented Undervalues personal feelings Is impatient and needs full control Likes to work independently Referenced from Week-1 hand outs and (Honey and Mumford, 1992) 3.3 How it affects my skills development As I audited and analysed my strengths and weaknesses of my learning style, below discussion reveals that how it will affect and how to overcome in order develop the four key skills for an effective manager. For example, Time management: As I am pragmatist, my planning/target may fail due to without taking any caution or overriding the task to others or effectively not using the source, which clearly affect my performance. However as strength I set/try to achieve the target with ideas, techniques and options, so I try to plan the task with right person/man-hour. Also assigning right task to right person and monitoring frequently enables to track and avoid last minute problems. Stress management: As I am pragmatist, giving more importance to the task rather than people or their feelings, may results to generate huge stress due to poor quality/inefficient project outcome. However as strength I take opportunity to experiment and evaluate with various options, so I try to encourage/educate the subordinates in order to meet the task. Further more, frequently reviewing the task progress and rewarding person enables to avoid workplace stress. Outcome 3 Personal development plan 4.1 SMART analysis Objectives and goals are widely used in planning and design. It is a composite statement of the end target, to be attained within the specified time and schedule. SMART is one of the key methods to create an effective objective or goal. So, the SMART objectives are: Specific : Objectives should be well defined and clearly state that what is to be achieved Measurable : Objectives needs to be quantifiable in order to measure or monitor the goal process and confirm whether it is in favourable condition. Performance could be quantitative and qualitative measure that allows us to make changes if anything goes wrong during the process and stay on track to meet the targets Achievable : Objective is within the capability and ability to reach the most desirable target. Also it must be realistic and appropriate for the business or activity Relevant : Objective should be specific and must relate to the short or long term business target Time defined : The end result should be accomplished with in the targeted deadline (Mike, 2008, P**) 4.2 SWOT analysis SWOT analysis is one of the powerful tools to analyse the personal strengths, weaknesses, opportunities and threats. This process enables to improve the strength, overcome/minimise the weakness/gaps as well as taking the greatest opportunities that are available. Appendix-** explores my SWOT analysis for my personal development and it is in Edexcel level 7 format. 4.3 Personal development plan (PDP) Planning is a logical component of the management process. PDP is an ongoing process throughout our life, which helps to manage/develop any individual skills through the process of self learning, reflection and structure on how to achieve their target/goal. In order to become a successful manager, I must have to plan and define the effective objective by using SMART analysis in order to accomplish the target within the scheduled time. Also I have to assess/examine my strengths and weakness by SWOT analysis in order to develop 4 managerial key skills listed in Outcome 1. From outcome-2, I established my learning style is PRAGMATIST using personal skills audit with my learning strengths and weaknesses. As I have analysed myself thoroughly, my PDP for achieving 4 effective managerial key skills are explored in the appendix-**. In that exploring process, my PDP mainly intended to help the following: Improve my personal and professional managerial skill Identify and develop my transferable skill Focus my thinking and plan forward and set realistic targets Articulate my personal goal and objective Evaluate progress towards the achievement Conclusion This assignment work helped me to understand the personal/professional skills for an effective manager and its importance, analyse suitable workable methods for developing these skills, identifying my learning skills with learning strengths and weaknesses, developing a personal development plan by SMART and SWOT analysis, Monitoring and feedback undertaken, etc. Especially, I gained thorough understanding of 4 Key skills in addition to other skills for an effective manager. From this overall task, I have developed a skill that how to set the target, analysing pros and cons, prepare a planning/route and schedule (viable and time), budgeting, analysing strength and weakness, monitoring and reflecting, scope for efficiency/improvisation, and finally meet the target. By using this PDP and methods, it could be very grateful to succeed in my academic career and also it helps me to efficiently utilize these skills in my future employment in order to make a successful and imaginative organis ation. Conclusion Professional development is very important for every professional, irrespective of their employment. It plays a vital role in order to step up their career ladder. For every business and organization, this advanced professional development program boost up their employees personal and professional managerial/leadership skills and knowledge in order to achieve their business objective and improve the productivity. If the managements are lack in those skills and knowledge then they wont be resisting in the Industrial market. The objectives of this assignment are mainly focused on how to improve the managerial/leadership skills including time management, running meetings, making presentation and stress management and these are very important skills for managers/leaders. This assignment works on to identify and evaluate the strategy or method for developing the personal and professional managerial /leadership skills as listed above. Also this covers the learning strategies and styles whi ch will be very useful for me to build my positive skills and to overcome my weaknesses in order to improve my skills and knowledge. By using this development plan and method, it could be very grateful to succeed at my university and also it helps me to utilize these skills in my future employment in order to make an effective and imaginative organization. foster (Word Count: 200) Appendices Appendix 1 Appendix 2 Bibliography using Harvard Referencing System Textbook Reference: Web Reference Personal / Professional skills Why it is necessary Time management It is cost effective and non recoverable Helps to plan, prioritize, organise, schedule and budget the work Organising meeting It is vital to get the solution from group or to improve the productivity or to motivate the employee Helps to discuss/convey the message among the group such as work plan, progress, new awards, etc Presentation To convey key points or improve delivery style Effective visual aid Stress management To analyse and reduce stress developed in job/ life To improve or control physical/emotional situation Self-awareness and self-management Effective communication To communicate clearly and correctly by written or oral or sketch, etc Map out the ideas/objective thinking in a proper way Problem solving and Decision making To provide/decide best or lesson learnt solution, when the problem arises in workplace or subordinate Performance management To conduct appraisals and guide subordinates for their career development Maintain a performance record of subordinate for easy access and feedback Recognise and encourage the top performers Team development Motivation To motivate/encourage the team towards project/organisation goal by monitoring progress Observing skill To listen/observe what is happening in the group Thoroughly understanding the situation and problem Well as I begin I would like to remember you one point that no one can withstand in the market of an organization when the people lack certain skills and knowledge. In order to ensure for proper skills and knowledge a proper idea about the development of their skills are briefed in this report. Keeping in mind, the four skills developed in this report were time management, stress management, running meeting, and group discussion. Not only the skills but also the learning styles were discussed. What are the techniques and objectives to meet the desired characteristics? How to improve the management skills for the effective leadership? The main concept of learning is mentioned clearly in this report which may be useful in the future requirements for an organization to be effective and imaginative.

Analysis Paper :: essays research papers

  Ã‚  Ã‚  Ã‚  Ã‚  I have read two particular articles that are about the topic I chose for my analysis. Both articles identify facts that support their beliefs. One true fact from one of the articles states â€Å"The basic is simple: Life begins not at birth, but at conception. It is a scientific and biological one†. Another fact about a different article states, â€Å"In order for it to be a human being it needs an internal organization, organs, and especially a human brain to be considered fully human†.   Ã‚  Ã‚  Ã‚  Ã‚  As I read both articles to understand each perspective there were two opposites one pro one con. On the Pro side of the argument, I found that the person who wrote the article had a moralistic approach about the topic. The topic that I chose to analyze was Abortion. Abortion always has two sides of a story, which is a very interesting topic to discuss because as you discuss this topic with others you will find that everyone has a different approach to what their beliefs are. I for one am I believer of Pro-Life. The woman that wrote this article has a lot of pro side to her argument. She talked about how chromosomes and eggs come together to form an embryo. She talks about the risk factors when having an abortion that is voluntary. She believed that even though there may be life, or potential life, or however one wants to refer to the fetus, that by denying a woman the right to an abortion is denying her control of her body. Being a woman myself, I am obviously aga inst people trying to control women or their bodies. But the fetus is a completely separate life from the woman. She brought up great ideas to support her belief, which is why this particular topic is very, very intriguing. Now, the other side of the topic is Pro-choice. The ability to decide for yourself that you can have an abortion, the pro-choice philosophy maintains that the availability of good medical abortions protects the health and fertility of women and allows children to be born into homes where they can receive love, care, affection, and respect for their unique individuality, so that these children grow up to be joyful, loving, caring, responsible members of the community, able to enter into meaningful relationships with others. This article talks great opinions to support their debate.   Ã‚  Ã‚  Ã‚  Ã‚  There are many unique tactics that each of the article uses to lure one into believing the way they do.

Quality – Market Leader

UNIT 10 – QUALITY QUESTIONS 1. What does it mean by â€Å"Quality† and â€Å" Quality Control†? 2. What should companies do to maintain the quality of their products/services effectively? 3. What do you think about the quality of Vietnamese products? What should companies do to enhance their competitiveness in competition? ANSWERS 1. The definition of quality depends on the different circumstances and perceptions. The meaning of quality is also time-based or situational. a. The definition of quality in manufacturing organizations is often different from that of services. Quality de? itions in manufacturing usually focus on tangible product features. The most common quality de? nition in manufacturing is conformance, which is the degree to which a product characteristic meets preset standards. Other common de? nitions of quality in manufacturing include performance— such as acceleration of a vehicle; reliability— that the product will function as exp ected without failure; features— the extras that are included beyond the basic characteristics; durability—expected operational life of the product; and serviceability— how readily a product can be repaired.The relative importance of these de? nitions is based on the preferences of each individual customer. It is easy to see how different customers can have different de? nitions in mind when they speak of high product quality. b. In contrast to manufacturing, service organizations produce a product that is intangible. The intangible nature of the product makes de? ning quality dif? cult. Also, since a service is experienced, perceptions can be highly subjective. In addition to tangible factors, quality of services is often de? ned by perceptual factors.These include responsiveness to customer needs, courtesy and friendliness of staff, promptness in resolving complaints, and atmosphere. Other de? nitions of quality in services include time— the amount of t ime a customer has to wait for the service; and consistency— the degree to which the service is the same each time. Quality control Quality control is a process that is used to ensure a certain level of quality in a product or service. It might include whatever actions a business deems necessary to provide for the control and verification of certain characteristics of a product or service.Most often, it involves thoroughly examining and testing the quality of products or the results of services. The basic goal of this process is to ensure that the products or services that are provided meet specific requirements and characteristics, such as being dependable, satisfactory, safe and fiscally sound. 2. What should companies do to maintain the quality of their products or services effectively? In order to maintain the quality of what we sell, we need to carry out wise quality control program as well as good customer services. 3. 1.Total Quality Control (TQC) program. 3. 2. 1. We have to focus on continuous improvement, tend to think of improvement in terms of plateaus that are to be achieved, such as passing a certification test or reducing the number of defects to a certain level. Because we can never achieve perfection, we must always evaluate our performance and take measures to improve it by using The Plan–Do–Study–Act Cycle. Another way companies implement continuous improvement is by studying business practices of companies considered â€Å"best in class. † This is called benchmarking. . 2. 2. We should also consider empowering all employees to seek out quality problems and correct them. The new concept of quality, TQC, provides incentives for employees to identify quality problems. Employees are rewarded for uncovering quality problems, not punished. In TQC, they are considered a vital element of the effort to achieve high quality. Their contributions are highly valued, and their suggestions are implemented. In order to pe rform this function, employees are given continual and extensive training in quality measurement tools. . 2. 3. Teamwork Approach TQC stresses that quality is an organizational effort. To facilitate the solving of quality problems, it places great emphasis on teamwork. The use of teams is based on the old adage that â€Å"two heads are better than one. † Using techniques such as brainstorming, discussion, and quality control tools, teams work regularly to correct problems. The contributions of teams are considered vital to the success of the company. For this reason, companies set aside time in the workday for team meetings. . 2. 4. Use of Quality Tools To control the quality of products or service, some company use quality tools. These are often called the seven tools of quality control and are shown in the picture. They are easy to understand, yet extremely useful in identifying and analyzing quality problems. Sometimes workers use only one tool at a time, but often a combi nation of tools is most helpful. Those tools include Cause-and-Effect Diagrams, Checklists, Flowcharts, Control Charts, and Scatter Diagrams. 3. 2. 5. Product DesignA critical aspect of building quality into a product is to ensure that the product design meets customer expectations. To produce a product that customers want, we need to translate customers’ everyday language into specific technical requirements. 3. 2. 6. Process Management A quality product comes from a quality process. This means that quality should be built into the process. Quality at the source is the belief that it is far better to uncover the source of quality problems and correct it than to discard defective items after production.If the source of the problem is not corrected, the problem will continue. TQC extends the concept of quality to a company’s suppliers and ensures that they engage in the same quality practices. If suppliers meet preset quality standards, materials do not have to be inspe cted upon arrival. Today, many companies have a representative residing at their supplier’s location, thereby involving the supplier in every stage from product design to ? nal production. 3. 2. Customer Services It is wrong to think that the sales process ends right after the moment our customers buy the products.We had better keep an excellent relationship with them by an annual customer satisfaction questionnaire towards our products/services, by offering the products they bought routine checks to ensure that they are well-maintained, by giving them warranty that lasts for an adequate time, or by guarantee our offering compensation if there is still a faulty products. 3. The quality of Vietnamese products Quality is an abstract definition which is usually judged by customers. The fact that a product is said to be of good or bad quality is all depend on each customers’ view.Generally speaking, Vietnamese products are quite good and their quality has been continuously enhancing. An evidence for this is that Vietnamese people have now increased using them, and the value of products exported to other countries also goes up. However, our products still have a lot of limitations. They are hard to compete with the products coming from other countries in both domestic market and global market. What the limitations are and also the reasons for them are mentioned below: * Low quality owing to technological level: Our country is still a developing country.Our corporates are limited about expenditures, capital, experience, and other elements. They cannot afford to buy the advanced machines. Besides, they do not have enough qualified experts to operate the modern new equipment. Made by old techniques and ineffective manufacturing process, our products are usually of lower quality and uncompetitive. Moreover, this has led to a consequence in the structure of Vietnam’s trade balance: exporting mainly agricultural products, crafts and other kinds of un processed goods but not high-technical or processed ones. Popularity of unsafe products and loss of customers’ trust: Some corporates still just focus on their profits but not their value propositions. They try to cut their costs without taking notice on improving product quality. Some small companies even conduct their manufacturing process inappropriately, using some poisons, preservatives improperly or releasing waste directly and polluting the environment. The products made by those companies are not only bad for customers’ health but also unfriendly to the environment. This has a serious bad impact on consumers’ belief on Vietnamese products. Product quality does not commensurate with their price. In the correlation between quality and price, Vietnamese products have to face a lot of pressure from those of other countries. Their tastes, durations and many other criteria of our products are still uncompetitive and unattractive to customers. * Prices and desi gns of products are hard to compare with those of foreign goods. For example, our products are competed by the imported ones coming from China, Thailand, India and many other countries. Especially, Chinese goods are really varied, diversified and at extremely low price.Besides that, the favorite of using foreign products of Vietnamese people also limit competitiveness of Vietnamese goods. * Low position in customers’ mind: The government has made a lot of regulations on products quality and also carried out many methods to test products’ safety. However, not much enhancement is made. Consumers still have to worry about cleanliness as well as safety of Vietnamese products. Moreover, the issue of counterfeiting goods is still serious and this contributes to lower our product position. * The difference in quality between domestic-use products and exporting products due to corporates’ behaviors.In reality, because of the difference in value, exporting products are u sually of higher quality than domestic-use ones. This discrimination has a negative effect on how consumers judge our products. * Infamous and low-trusted brands: Although we are a large exporter in some kinds of goods, our products are still not subject to any specific standards. Not having any national or international standards to ensure their quality, our products are not appreciated by customers. Their brands are also unpopular with them. In some cases, some brands have been certificated by Globalcap standards such as Nam Roi Grapefruit.However, they are now still threatened because our government does not have enough expenditure for recertification. In sum, Vietnamese products have a lot of limitations that need to be changed to raise their competitiveness. Enhance product’s competitiveness All we have to do is to fix the limitations as mentioned above. * Consumers only want to buy necessary goods of high quality. Hence, after investigating the demand of them towards ce rtain goods, we upgrade our production chain so that we can satisfy our customer totally. But how do we pgrade our production chain? A survey carried out in 2012 showed that among nearly 8000 enterprises in the field of manufacturing, 96 per cent claims the crux of the problem is that they cannot afford to invest in new technologies. Assistances from our state are not enough. Therefore, to do this really difficult thing, companies have to recruit qualified experts who can help them develop new ways, new methods of production. Once they have been successful, they are truly bailed out to provide customers with high quality items. * Create a unique image for our products.This is the only way to retain customers’ faith towards our products. They will know well where our products are and buy them, not faked ones. Also, using a signal or friendly slogan for products can help customers to remember us, typically. A practical action to solve this problem is to teach customers to reali ze us among the crowd. * Make our products value for money. Enterprise must be wise when performing price strategies so that customers gain the satisfaction when using our products, without whispered complaints on them being too expensive.High quality, but value for money. And, don’t try to lower the prices as what our rivals do, set the lowest level for our prices. This determines our true value. To some extent and in some segment, consumers they no longer pay the best attention in prices, but value – or quality. Keeping our prices at a reasonable level can create a good impression on our customers, that they are our life. * Gain the diversity when design our products. Imagine we have a large market for one kind of product. We make items the same as the others, and customers are fed of them.Especially girls, they don’t want others to â€Å"copy† their style. Thus, our product designers had better be innovative ones, or we have to hire more and more desig ners. * Once it is Vietnamese product, it must be as good as each other. The markets where we sell our products cannot decide the quality of them. This thinking will help our products to win the trust from our customers everywhere, for its being always of high quality. * We also need to change our mind of doing business. Vietnamese people tend to think they are never as good as foreigners.This one-track thinking indirectly do foreign business people a favor. We can do better than them if we can draw carefully a practical and effective plan. And the most important thing is that enterprises have to take actions to maintain the quality of the products for the forthcoming periods in which the state of the global as well as the local economy may come unexpected. Besides, we need to get help from other factors including productivity of motivated employees, wise and effective advertising campaigns or applying new methods in delivery.

Advertising Is a Wasteful Expenditure or an Investment

There has been a constant debate about â€Å"advertising† that whether it is a useful or wasteful expenditure of resources. Advertising plays a crucial role in today’s world where there are so many brands vying for the customer’s attention. If not advertising, how else would you as a consumer know what all there is you could choose from? Though a useful tool, it must be well utilized to create an impact. Many a times, we as consumers remember the setting of the ad but forget the brand that was being advertised†¦this is definitely a pitfall and must be looked into.For an ad to have a real impact, it must be able to create brand retention. Advertising is the main source of â€Å"Customer Education† in marketing. Its main advantage to the customer is that we become aware of the products in the market and have a competitive advantage in buying the products and services. Its main advantage to the seller is in the manner of informing the prospective custome rs of the values of the products and capturing them.In older days, ads were on papers and pamphlets and billboards. In this electronic era, it has captured the TV and the internet. Therefore advertising is not a waste of resources. But as companies make their advertising expenditure on customer then it would be a bit problematic condition for customers as companies just look for their profits and if the advertising agency is not good then the whole budget goes waste.So i think company should be effective to make an ad as for this era advertising is an important aspect for all types of businesses. But company should not make the ads on the costs of customer’s money as they don’t give customer a big return but they have a huge returns and companies absorb bloods of poor customers. So i think that should be stop or minimized as in India rich are becoming more richer and poor becoming more poorer