Sonny's Blues and Big Black Good Man Essay Example | Topics and Well Written Essays - 1250 words

Sonny's Blues and Big Black Good Man - Essay Example This paper endeavors to tackle the different significant points in both aforementioned short stories. It also aims to discuss the variations in both literary works. The story entitled, Sonny's Blues by James Baldwin, is a tale inscribed in the first-person singular narrative style. It commences with the narrator reading about his younger brother named Sonny who has been seized in a heroin bust. The narrator then recounts about the events of his day; he is a professor at a school in Harlem. However, he is having trouble of getting his mind off Sonny. He imagines all the boys he is teaching in class who he supposes does not have a bright future and probably doing drugs just like Sonny. After school, he came across a friend of Sonny who informs him that they will put him up in jail and put him in rehab but eventually he will be set free and hence, be all alone. Originally, the narrator does not have any contact with his brother Sonny not until his daughter Gracie passes away due to poli o when he decided to write him a letter. Hence, they eventually re-established their means of communication and somehow got updated with each other’s lives. When Sonny was set free from jail, he then resided with the narrator who is his brother. The two brothers then had a flashback of their parents. The narrator depicts his father as a drunken man, who passed away when Sonny was fifteen. Sonny and his father had the same solitude; however they did not get along. Sonny was an introvert and usually quiet; while their father acted as if he was immense, resilient, and loud-talking. They also reminisced the time of their mother’s funeral where the narrator had a talk with Sonny asking him what he aims to do with his life. Sonny replied that he desires to be a jazz musician and to play the piano. The narrator does not appreciate this dream and does not believe that it is good enough for Sonny. They also discussed his living arrangement for the remainder of his high school d ays. This subject matter ignites the two brothers to be in an argument where Sonny calls his brother ridiculous for not knowing who Charlie Parker is, and contends that he does not want to finish high school or live at the house of the parents of Isabel who is the narrator’s wife. However, they resolved the predicament with a compromise, since the house of Isabel’s parents had a piano; Sonny could play it whenever he wishes to provided that he will agree to go to school. It was then discovered that Sonny is not pursuing his studies instead he plays in the Greenwich Village with his jazz friends whom the narrator assumes that he is taking drugs with so Sonny left the house of Isabel’s parents and went to the navy. After the communication of the two brothers were re-established, Sonny arrives at the house, and asks the narrator if he wishes to come and watch him play in Greenwich Village, and the narrator, although reluctant at first, decides to go with Sonny. Son ny then starts to narrate about his heroin addiction in somewhat vague terms. He divulges that when the lady that the brothers both admire was singing at the revival meeting, it prompted him to be reminiscent of what it feels like when heroin is gushing through one’s veins. Sonny declares that it makes an individual feel that he is in control, and sometimes a person just have to feel that way. The narrator inquires if he has to feel like that to play and he responds that some people do. They then tackled suffering and the narrator raises the question

Doing Business in Japan Essay Example for Free

Doing Business in Japan Essay As a result of learning about the geography, climate, history, religion, cultural rituals, politics, education system, and the role of the family; it will allow a business or business person the insight needed to understand how society functions and the method in which business is conducted. Geography Climate Japan is an island nation that is located across the Japanese Sea. Japan consists of the islands of Hokkaiodo, Honshu, Shikoku, and Kyushu (Yamada Kurashige, 2003). The landscape of Japan is seventy-one percent mountainous (Population Demographics, 2007). Japan is a small country that is situated in the northern temperate zone. Japan experiences the four seasons similar to that of North America. Japan experiences typhoons which are a lot stronger than their sister hurricanes in the Atlantic (Yamada Kurashige, 2003). Religion Over eighty-four percent of the people in Japan observe Buddhism, Shinto or a combination of both. Confucianism from China added loyalty and hierarchy to the mix, and Taoism gave order and sanction to the system of government. The introduction of Buddhism brought contemplative religious aspects and helped to develop their culture of art and architecture. With the addition of Christianity, western ideas most importantly social justice and reform were infused into society (Long, 1994). Religion is not a large part of the Japanese society, but people will usually practice such holidays as birthdays, weddings and funerals (Japan, 2007). Recent History Japan went through major change during the World War II, when most of their cities and infrastructure was damaged or destroyed. After the war, they drafted a new constitution and the population of Japan began rebuilding the country. In only a few decades, Japan become the second largest economy in the world. In the 1990s, Japan suffered and economic down turn because of scandals and over-investment. The Asian economic crisis of 1998 caused Japan to experience its worst recession since World War II (Japan: History, 2007). From 2003 onward the economy has been improving, even surpassing at one point, that of the United States and E. U. (Economy of Japan, 2007). Current Issues in Japan Political Issues All foreigners entering the country are to be fingerprinted and photographed in a recent effort to fight terrorism. Also, airlines and ships must provide passenger lists before arriving in the country. Some may be very reluctant to have their photograph and fingerprints taken. Passenger lists may be time consuming and costly for cruise lines or freight vessels that wish to enter the country. There is pressure from the United States, for Japan to resume refueling of foreign vessels in the Indian Ocean, however there is much opposition within the Japanese government. This opposition may lead to tension between Japan and the United States. This could lead to some negative consequences for United States-Japan trade. (Chief, 2007). The Japanese government has sent a senior foreign minister to Iran to inquire about the kidnapping of Satoshi Nakamura, a Japanese student, more than a month ago. The Iranian Government is ignoring Japan, forcing the Japanese minister to Pakistan to ask for help in this matter (Official release, 2007). This will only negatively affect Iranian-Japanese relations. Social Issues Twenty percent of Japans population is age sixty or older. At the same time, the country has had a declining birthrate for a few decades. The population of Japan peaked in 2004 and started to decrease afterwards. The reasoning given is that that more women are working and they do not see it necessary to have children. (Japan fertility, 2005). One blogger notes that women may be insecure about having children (Coco, 2006). The shortage of labour will force more older men to stay in the work force as well as force more women into the business world. Economic Issues Japans declining birthrate is a major concern for the Japanese economy. The country needs to maintain a healthy population to keep its economy strong; this is proving very difficult (Atsumi, 2007). One foreseen problem of the low fertility rate is that the already suffering social pension fund could be crippled further (Japan fertility, 2005). The Tax Commission has found that taxes must be raised in order the finance the growing social welfare costs. People in Japan are purchasing portable technology, and the Japanese market is showing a sharp decline in purchase of home computers. With the high costs of home computers and the advances in technology could mean a shift in how people use and access the internet. The companies that produce home computers are now shifting their focus to the developing world (PCs, 2007). Social Organization Family Japanese families moved away from their traditional family structures after World War II when the occupying American forces created a new, Western, family ideology. The father still remains the head of most traditional families in Japan, but there are shifts in how a Japanese family is organized. Women, who would have remained at home to manage the household affairs, are now obtaining employment outside of the household. Since more Japanese women are entering the workforce, the men are being required to take on more of the household and child raising responsibilities (Long, 1994). Another change that has occurred in Japanese society is the idea of the multi-generation family living together. Although common at one time, many elderly people are not living with their families anymore (Family, 2007). Roles of Men and Women Japan was traditional a male centered society. However, shortly after World War II women were legally given equal rights as men. A great change came when women started to work outside the household. Companies in Japan were, and still are, desperate for skilled workers, and with participation of women in the workforce, it helped companies fill their need for workers (Matsui, 2007). Workplace In the workplace, as in other areas of the Japanese collectivist culture, they view themselves as part of a group. Workers are expected to show the utmost loyalty to the firms they work for. Leadership in Japan is not based on a Western values of assertiveness or quick decision making. A good leader in Japan is expected to take the interests of his subordinates into account and create consensus among the group. Seniority within a group is determined by age and length of service, rather than by individual effort and initiative (Genezberger et al. , 1996). Their system of group management rewards the team effort and rarely the individual. Often accomplishments are credited to the entire group and not the individual. Individuals are motivated to participate in group activities and maintain harmony. The pride of the individual or the group is expressed through competition with similar groups in the company or other companies (Long, 1994). Proper Etiquette for Doing Business in Japan Perception of Westerners The Japanese have some common preconceived notions about Westerners. Japanese see Westerners as lacking patience, often interrupting, and being bad listeners. They often see Westerners as being unable to work in teams. They may seeWestern expressions of friendship as insincere. Japanese may sometimes perceive Westerners as being selfish. Business Etiquette Protocol In Japanese culture personal space is highly respected, they are not a tactile people, and they dislike being crowded. In Japanese culture they try to avoid direct eye contact with other individuals. When yawning, coughing, or using a toothpick, they cover their mouths. The pointing of feet at another person is considered to be rude, and is therefore important to sit with correct posture. Criticizing and disrespecting authority openly, and being impatient are seen as disrespectful. In business, the personal relationships are far more important than the business itself. In order to do business with a company in Japan formal introductions, patience, flexibility, and respect are vital. Business cards are very important in Japanese business culture, and business people often carry many business cards. When meeting a business contact for the first time it is important to bow, or shake hands, then exchange business cards. When presenting or receiving a business card one is expected to use both hands and put it in a pocket, above the waist, after carefully reading it. For foreigners, it is common practice to have a Japanese translation on the back of the card (Genezberger et al. , 1996). Men and women are expected to wear are dark and expensive suits. Business women are encouraged to wear conservatively. Business meetings must be scheduled far in advanced. Before the meeting, Westerners should mail or fax a detailed list outlining what is to be discussed. One must establish relationships with middle and junior level managers or they may resent the person for having bypassed them and feel they have been insulted. When visiting a Japanese company it is customary to remove ones jacket immediately upon entering and putting it back on as soon as one leave. The leader of the group should introduce each of the group members in descending order of rank. Visitors are to exchange business first with the Japanese executives and then with subordinates in descending order. In the Japanese culture there is an expectation of receiving a gift at the first meeting. The presentation of the gift can be as or more important that the actual gift itself. Gifts must be given with both hands, and are often rejected a few times before they are accepted. Gifts are not opened when they are received. Certain flowers or potted plants do not make suitable gifts because of the meaning the Japanese associate with them. It is recommended to inform that one informs they are giving a gift beforehand (Roberts. 2007). Socializing ; Eating Japanese extend their affinity to their groups by socializing outside of work (Long, 1996). Japanese men and women are considered heavy drinkers. Incorrect behaviour while drunk is often forgiven. In Japan it is not expected for one to leave a tip for their servers. In restaurants, where sitting on the group is required, is common practice for men to sit cross-legged and women to sit on their legs or with their legs off to one side. Communication High context High context and low context are two terms used to describe broad differences between cultures. High context cultures are those where the main aspects of the culture are vague and not explicit. Generally collective cultures tend to be high-context, where much of what is being said is non-verbal, and the level of understanding depends on your relationship with the other party. Japan is a prime example of a high context culture (Beer, 2003). â€Å"Face† Saving face means preserving your or someone else’s dignity, self-respect, or good reputation. In cultures that are high-context â€Å"face† is a major characteristic. There are many ways that a person might cause the other individual to lose face. Derogatory remarks, reveling of personal inadequacy, or being forced to compromise a cherished value are ways in which â€Å"face† is broken (Face, 2007). Avoiding a loss of â€Å"face† generally means never saying â€Å"no,† and being politely evasive when conveying disagreement (Face, 2007). Greetings When conducting business in Japan, it is very important to know the proper amount of respect owed to individuals. Japan has a very formal and ritualized culture. Bowing is the Japanese custom greeting. How far you bow depends on your relationship with the other individual (Genezberger ; et al. , 1996). If you were to be greeted for the first time in Japan, it is recommended that one waits to be introduced, since it can be seen as being rude to introduce oneself. Foreigners may be only expected to bow their head slightly or shake hands (Doing Business, 2007). Practical Considerations Immigration In an effort to counter terrorism, all foreigners will be finger printed and photographed when entering the country. Japan has an agreement with some countries where only passports are required to enter. Foreigner tourists are required to carry their passports at all times. A visa required if one plans on extending their stay over 90 days. It usually takes about two days to a week to obtain a Visa, depending on the situation at the embassy you are applying. A single visa costs 3000 yen to obtain. Certain countries have exemptions from paying fees. (A Guide, 2007). Travel When traveling in Japan it is recommended that one does not travel long distances, because of cost. However, traveling long distance one can travel by train, highway bus, airplane, or long distances ferries. Renting a car is another possibility for travel. Accommodations For single travelers the prices of hotel rooms will vary depending on the traveler’s budget. The price range for inexpensive business hotels would cost between 3,500 and 7,000 yen per day. For more expensive business hotels, or Western style hotels the prices can be from 7,000 yen and above. Adaptation and Survival Public washrooms rarely have toilet paper, so one should bring their own. It is important to ask for a toi, short for toilet, not a bathroom, otherwise one may be directed to a room for bathing. When traveling, it is polite to store your backpack or luggage out of the way of other travelers (Haslam, 2002). Heath ; Emergencies All households are required to have a survival kit in case of an earthquake. Japan Travel, 2007). English speaking hospitals and services may not be covered by Japanese national health insurance, and could end up costing visitors money (Rogers, 1994). Conclusion Japan is a very collectivist culture and it very apparently in everyday business dealings. To a Western business person business protocol and etiquette may seem very unusual. It is im portant to understand that their traditions and customs are deeply rooted in their history. However, Japanese people view Western business practices just as unusual, but they are very accommodating to foreign business people. References

Business Essays Literature Customer Retention

Business Essays Literature Customer Retention Literature Customer Retention Introduction In compiling this literature review, the author has deliberately cast a wide net. This has not only included both major and less prestigious journals, but also practitioner magazines and self-help websites. Customer retention is clearly marketing topic of considerable current and practical interest. Whilst some of what has been written is of dubious value, and some isnt actually even about customer retention at all, it is felt that ideas put forward should be allowed to stand on their merits. Insights by practitioners can often provide useful illumination of academic theory, and it is only by bringing them together that the full picture can be appreciated. The Rise of Customer Retention The sole purpose of a business Peter Drucker (1973) once famously claimed was â€Å"to create a customer†. Marketing has traditionally focused on market share and customer acquisition rather than on retaining existing customers and on building long-lasting relationships with them (Kotler, 2003). However, keeping the customer has become regarded as equally, if not more important, since (Badgett et al., 2004) reported that a 5 per cent increase in customer retention generated an increase in customer net present value of between 25 per cent and 95 per cent across a wide range of business environments. Research done by Gupta et al. (2004) found that a 1 per cent increase in customer retention had almost five times more impact on firm value than a 1 per cent change in discount rate or cost of capital. As a result of these researches, the business case for marketers to focus on the management of customer retention became more clearly established. Because of this, there is a growing recognition now that customers, like products, have a life-cycle that companies can attempt to manage and they can be acquired, retained and grown in value over time. Freeland (2003) points out that customers climb a value staircase or value ladder from suspect, prospect and first-time customer, to majority customer and ultimately to partner or advocate status. In response to these changes there has been a new emphasis on defensive marketing, which focuses on holding on to existing customers and getting more custom from them (higher â€Å"share of customer†), in contrast to activities which focus on winning new customers. One of the reasons for the great popularity of customer retention is the recognition that losing a customer means in fact more than a single sale: It means losing the entire stream of purchases that this particular customer would make over a lifetime of patronage (Kotler and Keller,2006). More recently, market share has been gradually losing its importance as marketing’s wisdom of focusing solely on customer acquisition (hoping that this effort will compensate for high levels of defection) is now being seriously questioned and considered as very high risk since ever more players enter an increasingly crowded marketplace (Baker,2000). Todays banks find themselves more and more in a situation in which they have to build professional customer retention management systems. There are two main reasons for doing so; on the one hand, the costs of gaining new customers in highly competitive markets are increasing considerably. On the other hand, the profitability of an individual customer grows permanently with the duration of the business-relationship (Liu Lai, 2004 ; pg 398). Customer retention attempts to win a slightly larger share of the customer’s spend than would otherwise be the case (McAlexander,2006). In spite of this, according to Weinstein (2002, p. 259), most companies spend a majority of their time, energy and resources chasing new business. 80% or more of marketing budgets are often earmarked for getting new business† (Weinstein, 2002, p. 260). This is in line with Payne and Frow’s (1999) finding that only 23 per cent of marketing budgets in UK organizations is spent on customer retention. Aspinall et al. (2001), in contrast, found that 54 per cent of companies reported that customer retention was more important than customer acquisition. Support for retaining customers in the marketing literature (e.g. Ahmad and Buttle, 2002) is extensive. The benefits of retaining customers to the organisation are higher margins and faster growth, derived from the notion that the longer a customer stays with an organisation, generally the higher the profit. The significance of retaining customers is not new to marketing, as Drucker (1963) believed that marketing is as much concerned with retaining as well as acquiring customers. However, as competition has intensified and markets become saturated, an awareness of the benefits of retention has grown, particularly in the retailing of financial services. Benefits of Customer Retention Dawes and Swailes (1999) explain that successful customer retention circumvents the costs of seeking new and potentially risky customers, and allows organizations to focus more accurately on the needs of their existing customers by building relationships (p36). Researchers have also pointed out that customer retention has a significant impact on profitability and positive customer satisfaction and leads to superior financial performance. This is because firms with high customer retention rates tend to have lower costs, maintain more profitable long-term relationships, and enjoy substantial word-of-mouth advertising (p92). Reynolds (2002) suggests that once a company acquires a group of customers, it can retain that group by making them feel special through customer recognition. Reichheld (2006) in his article ‘Learning from Customer Defections’ identified that longer a customer stays with a company, the more they are worth as in the long-term customers buy more, take less of a company’s time, are less sensitive to price, and bring in new customers. If a customer is retained in a business there is certainly a steady flow of revenue to the business, moreover, there are chances to increase the existing revenue by cross selling or up-selling activities. In addition to this, acquiring a new customer can be a much more onerous and expensive task than keeping an existing one. When banks focus on individual customers by establishing a relationship and encouraging satisfaction and loyalty they have more chances to increase and retain their customer base. Relation banking can be seen as a vehicle to increase single-brand loyalty, decrease price sensitivity, induce greater consumer resistance to counter bank offers or counter arguments (from advertising or bank sales-people), dampen the desire to consider alternative banks, encourage word-of-mouth support and endorsement, attract a larger pool of customers, and/or increase the amount of product bought. It can lead to more purchases more often, give the ability to mass customize communication, minimize waste, helps promote trust and attempts to win a slightly larger share of the customer’s spend (Ongena, S., and Smith,2000). Relationship leads to loyalty, and loyal customers are supposed to buy more, pay higher prices and bring in new customers through word-of-mouth support (Morgan et al.,2000). However, some of these â€Å"profitability-arguments† related to relationship banking have been challenged by Reinartz and Kumar (2002), who compared the behaviour, revenue, and profitability of more than 16,000 individual and corporate customers over a four-year period, concluding that they discovered little or no evidence to suggest that customers who buy on a steady basis are necessarily cheaper to serve, less price sensitive, or particularly effective at bringing in new business. They also found that a considerable amount of loyal customers were only marginally profitable, while a large percentage of short-term customers were very profitable. Woolf (1996) argues that greater success comes from a strategy based firmly on understanding customer economics and only secondarily on customer loyalty and building relationships. However, despite their criticism, even critics themselves have suggested that customer loyalty (relationship) is a worthy contributor to the shareholder value of a company(Houston, 1999;pg33), and that â€Å"firms are encouraged to study their position and options in the pursuit of this goal†(Oliver,1999; pg37). The Lifetime Value Concept Customer retention has also given rise to the concept of Customer lifetime value (CLV or LTV) which represents the net present value of profits, coming from the individual customer from a flow of transactions over time. Novo (2006) describes Customer lifetime value (LTV) as the present value of the stream of future profits expected over the customers’ lifetime purchases. Companies can look at their investments in terms of cost per sale, rate of customer retention and also conversion of prospects. LTV is also used as a convenient yardstick of performance, however, it has tended to become a bit too much of a holy grail for corporate, marketing and sales executives, to the extent that entire conferences and seminars are often devoted to helping optimize it (Romano Fjermesta, 2003; pg 233). It is important to retain customers, but not at the cost of other essential marketing activities. Putting customers into key categories helps to clarify analysis and acts as the basis for marketing activities designed to improve customer lifetime value. While the importance of calculating the Customer Lifetime value in deciding the retention strategies cannot be questioned, some writers are of the view that measuring the lifetime value can sometimes be complicated as it involves a lot of analytical forecasting. Knox et al (2003; pg 207) argue that ‘calculating Customer lifetime value is problematic because it involves forecasting what amounts of what products customers will buy in the future years, and what the sales, administration and logistics costs will be. Because profits in future years are progressively less valuable (because of inflation) and less certain, a discount rate has to be applied. The higher the discount rate, the less valuable future profits will be’. Customer Retention and the rise of relationship banking (RM) The objectives of relationship marketing is to identify and establish, maintain and enhance and, when necessary terminate relationships with customers and other stakeholders, at a profit so that the objective of all parties involved are met. This is done by a mutual exchange and fulfillment of promises. Kabiraj et al. (2004) in their study of relationship practices in India noted that the Indian banking sector can only stay competitive by building lifelong partnerships with their customers. Relationship banking techniques can be employed to develop an ongoing dialog with customers, integrated across all contact points. Knox et al. (2003, p. 19) addressed that RM is a strategic approach designed to improve stakeholder value through developing appropriate relationships with key customers and customer segments and involves an enterprise-wide marketing strategy and technology platform. If done correctly, it enables organizations to retain the loyalty of their customers. It is about managing and monitoring customer behavior and has the potential to change a customers relationship with the banking organization and increase revenue (Dyche, 2002, pg.4). In todays economic condition, relationship banking can help to provide a sense of personal service without an actual person (Seybold, 2007). They allow banking organizations to integrate customer interaction channels and provide consistency in their interactions with customers, generate better customer intelligence, customize their offerings and communications to customers, manage customer interactions and relationships more effectively, and manage the customer portfolio by assessing the lifetime value of customers (Ely, 2006). Relationship Marketing/banking is not a new concept, its roots lie in the marketing basics of repeat purchase, customer retention and customer loyalty. Traditionally followed by retailers, the concept is slowly spilling over to the banking and financial services industry. Berger (2005) describes relationship banking as an attempt to advance the sales culture in bank marketing beyond order taking to a more pro-active form of direct selling which includes knowing more about the customer needs and tailoring products and services to suit individual requirements. Its goal is to establish a long term, intimate and relatively open relationship between banks and its customers. Eg Commercial banks and other financial institutions attempt to apply the concept of relationship banking through Personal Banker and Private Banking programs (Stauss Schoeler, 2004; pg 147). In this way, they are able to understand their customer, give personal advice and develop proximity with the customer. Customer retention has been shown to be a primary goal in firms that practice relationship marketing (Coviello et al., 2002). While the precise meaning and measurement of customer retention can vary between industries and firms (Aspinall et al., 2001) there appears to be a general consensus that focusing on customer retention can yield several economic benefits (Buttle, 2004). As customer tenure lengthens, the volumes purchased grow and customer referrals increase. Simultaneously, relationship maintenance costs fall as both customer and supplier learn more about each other. Because fewer customers churn, customer replacement costs fall. Finally, retained customers may pay higher prices than newly acquired customers, and are less likely to receive discounted offers that are often made to acquire new customers. All of these conditions combine to increase the net present value of retained customers. Lindgreen et al. (2000, p. 295), computed that it can be up to ten times more expensive to win a customer than to retain a customer and the cost of bringing a new customer to the same level of profitability as the lost one is up to 16 times more. Although a number of authorities have suggested that relationship marketing represents a paradigm shift (Christopher et al., 1991; Sheth and Parvatiyar, 1995) from a longer established transactional orientation to customer management, Gronroos (2000, p. 23) noted that the relational perspective on marketing is in fact â€Å"older than the transaction perspective in marketing† and is â€Å"probably as old as the history of trade and commerce†. There has been growing interest in relational aspects of customer management. Relationship banking permits businesses to leverage information from their databases to achieve customer retention and to cross-sell new products and services to existing customers which is why they are synonymous to existing customer promotion. It is believed that companies that implement relationship banking practices make better relationships with their customers, achieve loyal customers and a substantial payback, increased revenue and reduced cost (Blery Michalakopoulos, 2006). Relationship banking when successfully deployed can have a dramatic effect on bottom-line performance. There are two main aims of relationship banking. One is to increase revenue by raising purchase levels and/or increasing the range of products. A second aim is more defensive, by building a closer bond between the banking organization and current customer banks hope to maintain their customer base (retention). The whole idea of relationship banking is based on the argument that profits can be increased significantly by achieving either of these two aims. In todays economic climate building relationships can help banks to do more with less by providing a sense of personal service without an actual person. (Roberts, 2004) Relationship banking seeks to identify and talk to individual customers on a massive scale and this torrential flow of live transactional data offers the possibility to transform how banks manage their business. While it is not important to retain customers, it is important to retain the right customers in the business. Overtime, choices must be made as to which customers to acquire, which ones to develop and which ones to retain. It is true that not all customers are worth retaining, since from a long-term perspective not everyone is equally profitable. It is important to know if a currently unprofitable customer would generate a future profit stream, if an investment were made in enhancing the customers’ satisfaction. These problems can be addressed by profiling customers and making investments in those who offer the desirable growth and profit potential. (Subhash C. Jain 2005, p278) Relational Exchange and Customer Loyalty RM forms the bridge between the banking organisation and the customer, by means of reinforcing linkages, responding to customer needs and serving micro-segments (Berry, 2002; Hennig-Thurau, 2000). Freeland (2003) who has observed and contributed to this body of literature, comments: ‘Marketing practice has increasingly turned towards alliances, partnerships and other forms of relationship marketing, whose success requires effective co-operation. Interpretations of RM vary (Brodie et al., 1997), but common themes are that relationships are based on power being distributed equally between partners (Liu Lai, 2004) and that both the buyer and the seller are active in a rich, multi-dimensional exchange. Further elements that mediate successful relationships are trust and commitment (Garbarino and Johnson, 2006) in which trust is conceptualised as a belief that the partner in the exchange will fulfil the perceived obligations of a relationship. Where the focus is on individual customers, loyalty and retention initiatives can be seen as vehicles to increase single-brand loyalty, decrease price sensitivity, induce greater consumer resistance to counter offers or counter arguments (from advertising or sales-people), dampen the desire to consider alternative brands, encourage word-of-mouth support and endorsement, attract a larger pool of customers, and/or increase the amount of product bought( Bolton et al., 2000) Two aims of customer retention programs stand out, one is to increase sales revenues by raising purchase/usage levels, and/or increasing the range of products bought from the supplier. A second aim is more defensive, by building a closer bond between the brand and current customers it is hoped to maintain the current customer base. Loyalty and retention initiatives can lead to more purchases more often, give the ability to mass customize marketing communication, minimize waste and help promote trust. It attempts to win a slightly larger share of the customer’s spend than would otherwise be the case if the additional value of the scheme were not offered (McAlexander,2002). Research will analyze in greater detail the ways in which retention initiatives can transform the bank’s business and help make strategic business decisions, which is the purpose of the research (to evaluate retention as a key marketing strategy). One of the reasons for the great popularity of customer retention is the recognition that losing a customer means in fact more than a single sale: It means losing the entire stream of purchases that this particular customer would make over a lifetime of patronage – also known as the â€Å"customer lifetime value†(Kotler and Armstrong,2001). Role of Employees Within the Retention Process Another area of research would be the employee involvement in the customer retention process. In the Journal of Marketing Management, Buttle (2004) stresses on the importance of the front line employees. He argues that employees have the power to take actions which provide immediate customer satisfaction and thereby reinforce customer retention. This necessitates actively managing interactions between customer and staff and instigating improvements to the external quality of service by increasing the levels of internal service which staffs receive from within the organization from support departments and technology. (p153) Robert Heller (2005; og 117) insists that the most vital statistic for retaining a customer in any business is its employees. He quotes â€Å"that a satisfied worker creates a satisfied customer and higher financial returns: and that, by the same token, disgruntled staff lead to customer dissatisfaction†. A research by staff at Sears, the US retailing giant in 2006, established a convincing and clear correlation between employee attitudes, customer attitudes and financial results. The research showed that for every 5 units of improvement in employee attitudes, there were 1.3 units of gain on the customer impression index. Moreover, the latter added up to a 0.5% increase in sales over what they would otherwise have been.This outlines the obvious linkage between employee attitudes and customer retention. Therefore, if a business wants to retain its customers, along with devising strategies for customer satisfaction, it has to bear in mind that, employee satisfaction is equally important. The reseserch will analyze the role played by employees in Citibank in promoting customer retention. Researchers have argued that both customer facing and back office staff have a role to play in customer retention. The study will examine the ways in which the staff in Citibank performs their role and the effect it has on customer retention. Customer Clubs Some banks make the use of customer clubs as a strategic instrument for creating customer retention. Customer clubs are communities of current customers that are initiated and organized by companies (Diller, 1997; Butscher, 1997; Butscher and MuÈller, 1999). The current customers are approached for a potential membership to enable a steady direct communication and to intensify the relationship during the total time of business relation (Tomzcak and Dittrich, 1999). As an institutionalized form of added-value services, they aim at offering club members a wide range of benefits and increase customer satisfaction and loyalty. The goal of customer club is to improve the general operational profitability by customer retention. A customer club is regarded as a suitable platform to increase the interaction frequency between the bank and the customer (customer interaction effect) by creating contact and feedback opportunities. By doing so, a close contact is built around the client throughout the entire customer life cycle (Coviello et al., 2002; pg 8). A central objective of customer clubs is the augmentation of organizational knowledge about the customer (customer knowledge effect). With each customer contact starting from account opening the organization receives detailed information about the personal situation, interests and demand structures of the account holders. These insights are collected in a global member data base and linked with further customer data, which form the basis for individualized marketing measures (Ganesh et al., 2006; pg 65). However, some argue that it has to be considered that the set up and development of a customer club requires considerable investments. Whereas the cost effects of these investments are obvious and can be calculated rather easily, there is no certainty with respect to the existence and degree of the expected loyalty effects. Also, the customers willingness for a membership depends on the fact whether a distinct advantage is offered to them as customers are only willing to supply data and participate actively in the club membership, if their individual cost-benefit-calculation leads to a positive result (Gupta et al., 2005; pg 7). Therefore the customer club must offer a bundle of exclusive services, which are attractive for the target group from either a financial, material or communicative perspective. Retention measures and process Banking organizations in the vanguard are making several proactive changes in their service capabilities. They are developing diagnostics to understand what their customers need and value. They are examining what they need to do to retain customers and then train their people accordingly and are reinforcing service-oriented behaviours. Banks are exploring how to anticipate and respond successfully to differences in customer requirements between geographies. They are leveraging the intimate product knowledge of technical people and other staff and teaching them about the critical role they play in customer retention. Some financial service organizations are also teaming up sales, service and technical experts much farther upstream in a customer relationship in ways that are cost-effective and value added (Johnston, 2005; pg 211). It is also worth pointing out that the service component of forward thinking banking organizations is no longer relegated to one department containing the lowest-paid people. Major Banks use technology to accomplish menial tasks quickly, allowing everyone in the organization the time to enhance their skills as salespeople, research and development contacts and potential consultants on complex jobs (Morrman et al., 2002; pg 314). Research done by Nyer (2007) showed that everyone who interacts with customers must become an active agent for customer retention. A number of organizational processes can be associated with customer retention, including customer satisfaction measurement process, customer retention planning process, quality assurance process, win-back processes and the complaints-handling process. The notion that companies should engage in planning if they want to achieve desired business outcomes is deeply embedded in modernist management literature. Retention metrics Despite the scarcity of research into customer retention planning, investigators and commentators have begun to report on a number of related questions, such as how to define and measure customer retention, how to segment customers for customer retention efforts, and what strategies to employ to recover at-risk or lost customers. Aspinall et al. (2001) investigated the issue of definition and measurement of customer retention. They found that customer retention was particularly an issue in larger banking organizations but absence of measurable indicators makes it harder to gauge the impact of strategy implementation on customer retention. Buttle (2004) found that banks can employ one or more of several types of retention-related KPIs – raw, sales-adjusted, or profit-adjusted customer retention metrics. Banks that adopt raw customer retention metrics focus on the retention of a given percentage or number of customers, regardless of value. Banks that use sales or profit-adjusted retention metrics will focus their efforts on customers that generate higher levels of sales or profit. Coyles and Gorkey’s (2002) research also notes the significance of focusing on the retention of profitable customers, rather than all customers. They suggest that it may be more important for banks to focus on managing the overall downward migration of customer spending than customer retention in its own right. They note that many more customers change their behaviour than defect, so the former typically account for larger changes in value (Coyles and Gorkey, 2002, p. 80). They report the case of one bank that lost 3 per cent of its total balances when 5 per cent of checking account customers defected in a year, but lost 24 per cent of its total balances when 35 per cent of customers reduced the amounts deposited in their checking accounts. Another question that researchers have attempted to answer concerns the focus of companies’ customer retention efforts (Koch, 1998; Ganesh et al., 2000). Should retention of every customer be the goal, or should retention efforts be focused on subsets or even individuals? A report by PricewaterhouseCoopers (2002) observes that poor management of customer churn is a major value destroyer and that the key to prevention is to predict and avert attrition of the â€Å"right customers†. The â€Å"right customers† are those that contribute most significantly to the achievement of the company’s objectives. The implication of there being â€Å"right† and â€Å"wrong† customers to retain is that companies are advised to segment their customer base for retention efforts in much the same way that they would segment the market for acquisition efforts (Weinstein, 2002). Evans (2002) suggests that the right customers are those with the highest residual lifetime value. Although there has been little investigation of customer retention planning processes, there has been considerable attention paid to assessing the role and effectiveness of retention strategies and tactics directed towards valued, at-risk or lost customers. For example, a number of researchers have examined the contribution of relationship marketing instruments such as loyalty programs and customer clubs to customer retention outcomes (O’Brien and Jones, 1995; Dowling and Uncles, 1997; Stauss et al., 2001; Verhoef, 2003). Others have examined the development of customer attachment to organizations (Moorman et al., 1992; Oliver, 1999; Hofmeyr and Rice, 2000). The research will look into the retention KPIs of Citibank and assess whether the KPIs accurately measure retention. Type of banking relationships Banking relationships can be economic and social. Economic content deals with the economic benefits and costs of participating in the relationship. Customers are only willing to participate actively in a relationship if their individual cost-benefit calculation leads to a positive result (Stauss Seidel, 2005). Social content suggests that although economics may indicate a prosperous relationship, no relationship can be successful in the long-term without a social environment that nurtures communication, honesty, fair play and an awareness of mutual interests and therefore relationships should accommodate opportunities for interactions so that friendships may be developed. Building a customer retention strategy Setting up a strategy around customer retention requires careful planning and should include detailed plans and methods for customer identification and registration, segmentation and reward design. In order to be a source of sustainable competitive advantage, the banking organization developing the strategy must always take into account what its loyal customers value, since loyalty and retention is inextricably linked to the creation of value (Morgan et al, 2000). The strategy should make sure that it directly supports the value proposition. A value proposition is â€Å"the full positioning of a brand , the full mix of benefits upon which it is positioned† and the answer to the customer’s question â€Å"Why should I buy your brand?†(Kotler Armstrong,2001). Moreover, in order to be viable, a retention strategy must build and sustain noticeable differences in its offerings that are difficult to copy, since a lack of differentiation removes any potential of competitive advantage – which is anything but easy in banking., where first movers are quickly imitated (Morgan,2001). It must be considered that the retention strategy do not exist in a vacuum, but should be a coherent element of the bank’s overall strategy and capabilities. The strategy should take into account the nature of the business, its market position, goals, and the competitive landscape. There is still some confusion regarding the nature, scope, role and influence of customer retention initiatives. From a functional perspective, many marketers believe

Essay --

Every morning I wake up at the last minute. I press snooze from the moment my alarm goes off at 6:50 a.m. to 7:45 a.m. I go to bed early, but I can’t seem to get enough sleep. Teens are supposed to sleep for at least eight to nine hours every night. Having school start at 8:30 a.m. doesn’t help because teens like me have to work at night. After work I get home late and have homework to do before school the next morning, which keeps me up past midnight sometimes. Studies show that even getting a half an hour more of sleep improves children’s learning ability from eighteen to forty-four percent (School Really). If school started later teens would improve their grades and their health. Concentration from students is obviously one of the most important aspects in learning new things. It has been proven that if students sleep in, even if it’s only a half hour longer than normal, they’re more likely to have better concentration, behavior, and overall health. â€Å"A sleep disorder not only results in a sleepy, cranky, and often poor-performing student at school, but also an irritable, unhappy child or teenager at home† (Debatewise). Teenagers have a lot of stress put on them. One of the main stresses in teen’s lives is not getting enough sleep. Most teenagers have a job to help support their families and pay for their car insurance, gas, and other things they need. On top of having a job, many teenagers are in sports that occupy a lot of their free time. Teenagers are also pressured into getting all of their homework done in short amounts of time just to get good grades. The last thing that teenagers are worried about is sleep. Teenagers don’t realize how important sleep is not only to their education, but their health in general. ... ...l should start later varies. For one, it’s dangerous to drive to school tired. Automobile accidents are most commonly caused by inexperienced drivers. Imagine being inexperienced and being so tired to the point where you can barely keep your eyes open all because you have to be at school bright and early. Cutting back the time teens arrive at school has been proven to lower the risk of car crashes. There was a school that had cut car accidents by 17% just by changing the time school begins (3 Reasons). Being tired also causes depression, depression makes it harder for students to concentrate on what’s most important, their homework (3 Reasons). I can’t stress enough how important it is to get good grades. Getting good grades and having a good GPA, not only helps you become who you want to be when you get older, but it helps you get into any college you like.

Heroic Slave Rebel in Delaneys Blake or the Huts of America and Dougla

Heroic Slave Rebel in Delaney's Blake or the Huts of America and Douglass' Heroic Slave The fundamental element of a successful slave rebellion is a heroic slave rebel. Madison Washington of Frederick Douglass' The Heroic Slave and Henry Blake of Martin Delany's Blake or the Huts of America serve as models of that rebel. First, he must possess a will to stay and fight-he must not be content to just run away and gain individual freedom, abandoning his family and friends. Second, he needs intelligence, and preferably education as well, to be able to organize large, complex plans of rebellion. Finally, he must be a natural leader, drawing fellow slaves and free abolitionists to follow him and fight for his cause. Throughout the novels, examples of all of these characteristics can be found in both heroic slave rebels. For most American slaves, there were only two paths to freedom: running away or successfully plotting and carrying out a rebellion. The path of flight was much easier and was the path chosen by almost all dissatisfied slaves who decided to take action. The slave who decided to stay and fight instead of fleeing had to have a force holding him back. This force could be described as a sense of duty to family and friends or a remarkable desire to make a change in the nation as a whole rather than just improving his own life. Both Madison Washington and Henry Blake, like all heroic slave rebels, were affected by this force, held back by it. They had acquired their individual freedom through flight, but then were called back to aid their families and friends. Without this force pulling them back, they would have been content to remain as runaways in Canada and would not have become heroic slave rebels. Throughout th... ...hite man, I would have followed willingly and gladly in any honorable enterprise" (Douglass 68). Madison Washington's leadership skills during the insurrection aboard the ship were so great that they even impressed an old, prejudiced white sailor. Without this quality of leadership, his rebellion would have never been executed successfully. These three characteristics-a will to stay and fight instead of running, intelligence, and great leadership-are all necessary to the successful rebel. Both Madison Washington of Frederick Douglass' The Heroic Slave and Henry Blake of Martin Delaney's Blake or the Huts of America embodied these characteristics and serve as good examples of the heroic slave rebel. Works Cited Delaney, Martin R. Blake or the Hunts of America. Boston: Beacon, 1970. Douglass, Frederick. The Heroic Slave. New York, Penguin Books, 2003.

Banned Books

According to Dosomething. org, more than 60% of teens are doing or have done drugs at one time. Go Ask Alice should be banned from middle school and elementary libraries and only permitted at the high school level because of the use of vulgar language, the use of illegal substances, and the explicit descriptions of the activities being done throughout the book. One reason this book should be banned is the use of vulgar language. The foul language used in this book is not appropriate for middle school nor elementary ibraries, but acceptable to more mature audiences like high school.An example of this occurs toward the middle of the book when, the main character, Alice and her friend are at a party that gets out of hand and she's talking about it the next day, â€Å"Last night was the worst night of my shitty, rotten, stinky, dreary, f*cked up life. † (Sparks, 58) Another example toward the beginning of the book when she's expressing her feelings about that day, â€Å"l feel aw fully bitched and pissed off at everybody†¦ I Just want to puke all over the shitty world. † (Sparks, 82, 83) Next, nother reason Go Ask Alice should be banned is the excessive use of illegal substances.The drug use written throughout the book is not appropriate for middle school or elementary, but should be permitted for high school level. In Go Ask Alice there are many illegal substance references throughout the entire book. An example happens toward the beginning when she's at a small hang out and is unknowingly consuming a spiked drink. â€Å"Then I noticed the strange shifting patterns on the ceiling†¦ I watched the pattern change to swirling colors, great fields of reds, blues, ellows. (Sparks 25) Another example toward the middle is when she and her friend are roped into selling drugs to young kids, â€Å"†¦ so Chris and I have both had to push pot†¦ I convinced Richie that it would be easier to push acid than pot†¦ † (Sparks, 45) This u sage continues throughout the book. A third, and final, reason why this book should be banned is because of the explicit descriptions. The explicit descriptions used are not acceptable for middle school or elementary libraries, but can be deemed appropriate for high school.This whole book is very detailed and explicit in its descriptions. One of the many examples is when she is waking up after a wild party, â€Å"Well last night it happened. I am no longer a virgin! † (Keep in mind she is only 14) (Sparks, 27) Then she talks about her boyfriend, â€Å"Richie is so good, good, good to me and sex with him is like lightning and rainbows and springtime! † (Sparks, 44) Still talking about her boyfriend, â€Å"He teases me and says I am oversexed because I have been bugging him to let me try sex without being stoned first. Sparks, 46) A final example is toward the ending of the book discussing the death of her grandmother, â€Å"Gran died in her sleep last night. I tried t o tell myself that she's gone to Gramps, but I am so depressed all I can think about is worms eating her body. † (Sparks, 115) This book has sparked controversy in whether or not it should be banned to middle school and elementary. Go Ask Alice should be banned to middle school and elementary because it is not appropriate to expose them to the contents in the book.But reasons it shouldn't be banned for high school libraries is because they are a more mature most worldly things that this book shouldn't corrupt them too much. So this book should be banned for middle school and elementary but permitted to high school because of the usage of vulgar language, the use of illegal substances, and the explicit descriptions written throughout the book. Just think, would you want your young child exposed to this type of literature and have it possibly have an influence in their behaviors?

Charity Essay

Charity is supposed to be a selfless act done by people who expect nothing in return for their help except for the feeling of having helped someone in need. Charity has changed from an act of nobility or kindness to a way of looking good in front of other people or to receive some type of material reward or to receive some type of tax reduction as done by big companies who prefer †Donating† $100,000 and then save $300,000 in tax reductions for helping out a such noble cause.Charity should be what it used to be a SELFLESS cause period, not just a â€Å"win-win situation† in which both parties â€Å"benefit† from it, it should be done because you want to do it out of the kindness of your heart not because it will get you a C- on the class you’re failing or, because you want to look good in front of someone, it should be done because you want to help the people in need. For example my five year old cousin Jerry, at his age you would expect him to blow al l of his money on games, toys or other things kids like, but no he doesn’t.He saves up all his allowance for months at the time and then one he feels he has an amount that seems big enough to help someone he will goes online to see what charities convince him to donate his money on them, so far he has donated over fifth teen hundred dollars to over ten different charities that vary from animals in danger of extinction to research for AIDS and even Cancer, and he started doing it all by himself, not because someone expected it from him, not because he wanted to look good in front of other people he did it because he wanted to make help people in need, people who don’t have as much as we do, people who have had the â€Å"bitter side of life† as my little cousin would say.One time he went on and went asking door by door all over town until he had knocked on every single door in his town (with his moms supervision of course) and gathered up a good nine hundred dolla rs he could donate to a research on way to prevent miscarriages, and in my opinion more people should be like my cousin and walk that extra mile to help people without the need to receive a â€Å"reward† in order to do what he feels is right. Charity should be a selfless act, and not this sempiternal cycle in which people expect a reward for everything they do.