Marketing in Modern Businesses

The principles of marketing are nowadays taught in many educational institutions. This knowledge is believed to be crucial for entrepreneurs or managers. Overall, the importance of marketing for modern organizations can be explained by looking at various definitions of this concept.Advertising We will write a custom essay sample on Marketing in Modern Businesses specifically for you for only $16.05 $11/page Learn More To a great extent, they explain why this activity is relevant to companies. Moreover, one can argue that marketing is vital for competitive strength of a company, its relations with clients, and its profitability. In the long-term, marketing can shape the positioning of a business or its pricing policies. First, it should be noted that there is no universally accepted definition of marketing because various scholars may emphasize different elements of this term. For instance, in their book William Leader and Nicolas Kyritsis (1994) argue th at marketing is the analysis and implementation of various programs in order to transfer goods or services to the customers (22). Moreover, these authors point out that the concept of marketing includes such components product development, promotion, pricing, and distribution of good or services (Leader Kyritsis, 1994, p. 22). Their interpretation attached more importance to the specific tasks or activities that companies should cope with. In turn, it is possible to offer a different explanation of this term. For instance, James Burrow and Jim Bosiljevac (2011) believe that marketing is â€Å"the creation and maintenance of satisfying exchange relations (p. 9). According to these authors, their definition has several important implications. First, they suggest that marketing should be related to product creation, and establishing long-term relations with clients (Burrow Bosiljevac, 2011, p. 9). On the basis of these interpretations, I can provide my personal definition of marketi ng. I think that it is the process that involves the creation of products, explanation of their value or promotion, and the delivery of these products to the customers. In order to illustrate the importance or marketing, one should look at the policies and practices of different companies. First of all, marketing is closely related to the design of products and services. It can also influence the very process of manufacturing. For instance, one can mention such a model of product development as Kansei engineering which is adopted in many manufacturing companies nowadays (Nagamachi Lokman, 2010, p. 89).Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More It is based on the interaction of designers and marketing professionals. In this case, the main task is to interview potential buyers about such aspects of products as usability, physical appearance, or reliability (Nagamachi Lokman, 2010, p. 89). The responses of interviewees are later codified and on their basis, engineers make necessary modifications in the product. Thus, marketing professionals help to link customers and producers. They provide valuable information that managers should use. Additionally, marketing greatly contributes to the cost-efficiency and profitability of an organization. As it has been noted before, marketing includes such an activity as pricing. Companies have to determine the amount of money that customers should be ready for a product or service. These professionals must make sure that a company can earn its expected revenues, but at the same time they have to think about the policies of competitors since these businesses can cut down prices in order to gain the attention of buyers. Thus, their task is quite challenging. One can refer to such as a strategy as value-based pricing which is based on the premise that the most optimal price can be determined by studying the opinions of clients an d identifying how much they can be willing to pay (Meehan et al, 2011, p. 7). Overall, this approach helps to increase the revenues of a company (Meehan et al, 2011, p. 7). Therefore, marketing strategies have a profound impact on the profitability of an organization. Finally, one should mention that marketing can shape the way in which a company positions itself. The thing is that marketing professionals help business to differentiate themselves among others. In some cases, a well-selected marketing strategy can influence long-term development of a business and its reputation. There are some companies that are regarded as luxury brands, for instance, Morgan Motor Company or Aston Martin. From the very beginning, they have been viewed as manufacturers of high quality sports cars that are intended for very prosperous clients. This strategy enabled them to achieve success in the market. The thing is that these companies do not want to target even middle-income customers. It is not lik ely that their approach will change in the future. Thus, marketing strategies can greatly influence the public image of an organization. These cases demonstrate that the success of modern companies is hardly possible provided that entrepreneurs or managers do not understand the main principles of marketing. These people have to know how their products can be differentiated or what customers expect from them. This information is crucial for product development and production process. Without this knowledge, the efforts of businesses are not likely to yield good results. This is why marketing is essential for modern organizations. Reference List Burrow, J. Bosiljevac, J. (2011). Marketing. New York: Cengage Learning.Advertising We will write a custom essay sample on Marketing in Modern Businesses specifically for you for only $16.05 $11/page Learn More Leader, W. Kyritsis N. (1994). Fundamentals of Marketing. New York: Nelson Thornes. Meehan, J., Simone tto, M., Montan, L. Goodin, C. (2011). Pricing and Profitability  Management: A Practical Guide for Business Leaders. New Haven: John Wiley Sons. Nagamachi, M. Lokman, A. (2010). Innovations of Kansei Engineering. New York: CRC Press. This essay on Marketing in Modern Businesses was written and submitted by user Will H. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Hinduism 330 million gods essays

Hinduism 330 million gods essays The film, Hinduism 330 Million Gods, gave a basic overview of Hinduism. It focuses primarily on the Hindu concept of the divine, religious practices and the stages of life. It derived most of its information from ordinary Hindus with some commentary from some more educated Hindus. Hinduism has many gods and goddess but at he same time has a monist belief. These two apparently contradictory views are reconciled by the idea that all the gods are just different manifestations or facets of Ultimate reality. In the film we where given the analogy of ultimate reality or Brahman as the powerhouse and all the gods as light bulbs. The Ganges River, is not only sacred in Hinduism, but is also considered a goddess. Hindus believe that the river can wash away their sins and reward them with immortality. In the film we saw people bathing themselves in the river to purify themselves, while at the same time doing their laundry in it. It is often said that Hinduism is less a religion and more a lifestyle, the over lapping images of people engaged in a religious cleansing while at the same time engaged an ordinary activity serves to illustrate this. Hinduism considerers idol worship perfectly acceptable, unlike many other religions, such as Islam, which totally rejects even having religious images in place of worship. For Hindus an idol is simply an aid to concentration, in the film it was referred to as being like a pointer. Since ultimate reality is beyond what we are capable of sensing, the idol acts as a proxy. In the film we saw a school in rural India during a religious festival. They prayed to an idol, made offerings to it and when the festival concluded they destroyed it. The fact that they destroyed it when they were done with it emphasizes that Hindus know that the idol is not a god. A Mahatma is a holy person. The Mahatma in the film had left his life t ...

Research with children Essay Example | Topics and Well Written Essays - 2000 words

Research with children - Essay Example Further, I shall attempt to gauge the difficulty level in overcoming them for the researchers involved. To evaluate these obstructions; I need to first discuss my own understanding of both cultural and institutional barriers. Cultural barriers are a result of varying (not necessarily one) culture and its reflective beliefs about children. These beliefs form major ideological notions of what being a child constitutes, what behaviors are to be expected, what are to be punished, and consequently in what manner adults should handle children. These impediments arise in researches done amongst all nations, and materialize in different child-identity arrangements. Amongst the most common ones are that children are ‘innocent’ and ‘naive’. This translates to the assumption that children are not reliable sources of knowledge. Their responses are not to be taken seriously since they lack enough knowledge to make meaningful observances. Parents play a major role in these scenarios. A number of social factors shape parents notions and expectations, and these may be challenged if children are given equal opportunities as adults to participate. For this reason, ensuring child participation means ensuring parental satisfaction (Ray, et al., 2010) Institutional barriers are those barriers in which institutions such as schools and governments place limits on child participation and hence hinder the space left for researches to explore in. Unlike cultural barriers, these are harder to overcome. Since they involve a larger number of people and usually governmental policies and laws, they need to be kept in accordance with. One such example of this is the case of ‘informed consent’. Various countries deal with this separately and allot children of certain ages of legal/illegal statuses which allow them to be independent

The Pricing Strategies and Programs of Etisalat Essay

The Pricing Strategies and Programs of Etisalat - Essay Example In 1983, the company changed its ownership structure when the United Arab Emirates government took over a 60 percent share of the company, giving it majority ownership, with the other 40 percent of stock offered to the public. Today, this company operates under the brand Etisalat. The firm is a diverse multinational company that operates in 18 countries throughout the Middle East, Africa, The United States, and Africa (etisalat.ae, 1). Etisalat services over 100 million customers in these countries and has achieved annual net revenues of AED 30.83 billion in 2009 (etisalat.ae, 1). The company is a major telecommunications provider to the private citizen and to corporate entities, with mobile services, voice and data services over satellite and fixed-lines. The business also is involved in providing managerial and technical training support services to enterprises as well as SIM card manufacturing, voice and data transit services, and even telecommunications in submarines (etisalat.ae, 1). The business is a major broadband hub for Middle East businesses and consumers with a very broad trans-national network. It provides also roaming and data services for corporate entities. In addition, Etisalat provides iPhone services and Blackberry services exclusive to the se products. Major competitors of Etisalat include Vodafone, MobiNil, Singapore Telecommunications and China Mobile. (BBC News, 1). Current regulations reductions in the UAE and other countries have also reduced barriers of new market entry for competition, thus the business faces even more competition from global and regional telecommunications companies as they are now allowed to enter the UAE and other Middle Eastern markets with less tariffs, taxations, and less governmental involvement. Data on the Chief Executive Officer of Etisalat The CEO is currently Mohammed Khalfan Al Qamzi who has held this position since 2006. Al Qamzi has an excellent track record of bringing innovative solutions to Etisalat founded on years of business management and investment experience. Mohammed Al Qamzi is a graduate of Spokane Community College, attended from 1999 to 2002. Most of Al Qamzi’s experience is in real estate, with involvement in Jumairah Golf Estate, Palm Jabel Ali, and currently works as th e director of real estate venture Palm Jumairah (linkedin.com, 1). The CEOs credentials include vast knowledge of logistics, security, environment and sustainability practices, document management and project control (linkedin.com, 2). His vast resume of business success has brought Etisalat considerable market presence and growth opportunities over the last five years. Marketing Principles for Etisalat Etisalat understands the importance of marketing for brand-building and also to secure differentiation among competitors who offer similar products at similar pricing structures. Targeting for the company involves a blend of strategies. First, Etisalat considers geographic segmentation based on volume of citizens in a region and urban population and infrastructure. Targeting considers gender (considering most Mid-Eastern countries are male-dominated), literacy levels of international and domestic consumers, specific customs and traditions, the income levels of potential consumers, an d the current level of brand recognition of potential customers (marketingmixx.com, 2). Literacy is a significant factor when considering how to target advertising since this region does not support the highest literacy levels when compared to other developed countries across the world. The company’

Technology Infrastructure Essay Example | Topics and Well Written Essays - 500 words - 1

Technology Infrastructure - Essay Example An IP address; however, can be assigned either statically (permanent) or dynamically (temporary). In the given router scenario configuration, there are two IP addresses from two different classes i.e. 70.115.23.137 of class A (on Internet Port) and 192.168.1.1 of class C (on LAN Port). The two are different as like MAC Addresses (above). Commonly, a router owns two separate IP addresses one for the local network (LAN) and other one for accessing public network (WAN). After reviewing the given scenario, the DHCP service is turned off which means that IP addresses would not assigned dynamically to the devices within the LAN structure. Each networking device in the scenario should be assigned a unique (static) IP address within the range of given IP i.e. 192.168.1.1. As mentioned above that this is a â€Å"class C† address, and can support up-to 254 hosts. As 192.168.1.1 is configured on the router’s LAN port, broadcast address for this range is 192.168.1.255; useable range of IP addresses is 192.168.1.2- 192.168.1.254. IP address of the router’s LAN port is 192.168.1.1; thus the default gateway address for every device in the LAN shall be configured as 192.168.1.1. Configured device would identify router as the â€Å"door† pointing out of the local network (LAN) towards the public network (WAN). The subnet mask of router is configured to 255.255.255.0 which also categorized as the network segment for the given scenario, so the subnet mask of the IP address assigned to the device should also be set 255.255.255.0, as device is configured to appear in the network segment. It is a system of accessing document through internet by applying standard protocols. In another words it is a transparent, easy to use, user interface for accessing internet servers regardless of knowing actual position of that server. It is a mechanism that links the hostname with the corresponding IP address over web (Blank, 2004, p. 174-175). In other words in is

Employees Perception About Merger Management Essay

Employees Perception About Merger Management Essay The present economic scenario has witnessed a large number of merger and acquisitions in banking industry all over the world. One of the principal objectives behind the merger Acquisition in banking sector is to reap the benefit of economies of scale. The growing competition has compelled banks to expand their size and to penetrate in market place; it indicates the rule of the ocean that big fish will eat small fish. Consequently, one of the most widely used tools is mergers and acquisitions. However, the market situation is such that there is bombardment of many new and divers products from large pool of bankers. For survival, deliberate decisions are required to mitigate the diverse effects of market forces. At the time of taking decision of MAs, generally financial issues are taken care of and HR issues are ignored which is most important issue for success of any merger. Therefore, the aim of this research paper is to assess the level of satisfaction among employees of the merged bank i.e. the erstwhile bank of Rajasthan ltd. This study is based on a pilot survey; small sample of 30 employees, which is taken from the 14 selected branches from Udaipur city, and paired sample t-test, is applied to test the significant difference of the sample along with weighted average method. The results revealed that post merger satisfaction level is low and stress level is high among bank employees after merger. The implication of the study is for policy makers, strategist, bankers, future researchers, and scholars. Key Words: Merger, Acquisition, Bank, Employees, Perception 1. Introduction: In recreation of organizational growth, augmenting geographic networks, to accelerate market share, creating strategic fit and synergy; organizations are adopting strategic tools like Mergers and Acquisitions (MAs). It is evident from the pages of history that MAs is the most widely used inorganic strategic tool for growth. A merger is a combination strategy of two or more organization in which one acquires the assets and liabilities of the other in exchange for share or cash. At this point of time, it becomes imperative for strategist and policy makers to undertake the confidence of their employees, customer, shareholder and subsidiaries and to understand how they perceive any strategic move because this surely affects the image of the company. Kotler (1997, p. 185-86) has illustrated in his book that perception is the process by which an individual selects, organizes and interprets information inputs to create a meaningful picture of the world. Since the world market is shrinking and consumers are becoming aware about various products and services offered by global players due to the emergence of ICT, it has become strategically important for banks to understand the perception of employees under the purview of MAs, this is so, because they deliver the services. Many researchers have proved that human factor is the key element in delivery of services. Thus, we can say that core reason for success and failure of mergers are human resources i.e. personnel and behavioral issues, blends of cultures and sets of policies practices. Therefore, Transferee Company must create an environment where the employees of Transferor Company can project merger as a steps towards growth. Consequently, employees will strive to work with integration of vision and mission of Transferee Company. Thus, this study can contribute in the field of strategic management as a view point of employees and human resource management. Strategist can consider this view as an input in strategy formulation. In this scenario, this study on employees perception may be a modest attempt to trace the hard realities regarding employees perception of ICICI Bank Ltd. It will be helpful for ICICI mangers, executives, and employees, government, banking industry, RBI, research scholar, strategic managers, HR managers and policy makers. 2. Review of Literature: Schneider and Bowen (1985) reported significant relationships between branch employees perceptions of organizational human resources practices and branch customers attitudes about services. Schweiger and Weber (1989) suggested that Mergers and acquisitions (MAs) are corporate events that have the potential to create severe personal trauma and stress which can result in psychological, behavioral, health, performance, and survival problems for both the individuals and companies involved. With the increasing size and number of MAs transacted and the number of employees affected, it is essential that executives and human resource professionals pay greater attention to understanding the sequence of actions and reactions associated with the process. Schweiger and Denisi (1991) conducted a longitudinal field experiment to evaluate the various effects of a communication program on employees of an organization; they called it a realistic merger preview. This study was intended to measure the effects of mergers and acquisitions on employees. Their results suggested that realistic communication during a merger process in the form of a realistic merger preview can help the employees to get through the process of merger. As illustrated by the significantly lower measures on global stress and perceived uncertainty and significantly higher on job satisfaction, commitment and self-reported performance for the experimental group, exposed to the communication program. Schneider and Dunbar (1992) suggest that media plays an important role in shaping the social context for mergers and acquisition. Weber (1996) assessed the role of corporate cultural fit, autonomy removal, and commitment of managers to the merger in predicting effective integration between merger partners in different industry sectors. He found that relationship was very complex; they varied across industries and had different relationships with different measures of performance. Further, he found that cultural differences at the top management level were most likely to influence the merging organizations ability to realize synergies. Literature shows that communication also plays vital role in the success of a merger. Nikandrou, Papalexandris and Bourantas (2000) explored a number of variables which bear an impact on managerial trustworthiness, for example frequent communication before and after acquisition, and already the existing qualities of employee relations seem to play the most important role. Therefore, a carefully planned, employee-centered communication programme, together with a good level of employee relations, seem to form the basis for a successful outcome as far as employee relations in the face of mergers and acquisitions is concerned. Therefore issues related to human resource management are also raised by researchers in articles. Appelbaum, Gandell, Yortis, Proper and Jobin (2000) conclude that communications throughout the MA process plays a crucial role in its eventual success. Providing clear, consistent, factual sympathetic and up-to-date information in various ways will increase the cooping abilities of employees, which will in turn increase their productivity. This increased productivity will positively impact on firms performance and create sustained competitive advantage by achieving the projected strategic fit and synergies. Communication and a transparent change process are important, as this will often determine not only how a leader will be regarded, but who will be regarded as a leader. Leaders need to be competent and trained in the process of transforming organizations to ensure that individuals within the organization accept the changes prompted by a merger. Hurtt, Kreuze and Langsam (2000) suggest that growth is the primary reason for MAs. Panchal and Cartwright (2001) investigated post-merger stress in a sample of field sales employees. A survey methodology was used to examine group differences, comparing those from the two pre-merger companies and those newly merged organization. Results revealed that group differences in both sources and effects of stress existed. Those from the dominant pre-merger company reported the highest stress levels and most negative work attitudes. Lynch and Lind (2002) also suggest that mergers and acquisitions is one of the major tools for organizational growth and on the other hand Dario, Fabio and Carmelo (2002) investigated using Italian data that mergers seek to improve income from services. Bryson, (2003) reviewed the literature around managing HRM risk in a merger. He found that poor merger results are often attributed to HRM and organizational problems, and that several factors related to maintaining workforce stability are identified as important in managing HRM risk. Schraeder and Self (2003) also found that organizational culture is one factor as a potential catalyst to MA success. DeLong (2003) studied sample of 54 bank mergers announced between 1991 and 1995, tests several facets of focus and diversification. The study found that upon announcement, the market rewards the merger of partners that focus their geography and activities and earning stream. Only of these facets, focusing earning streams enhances long-term performance. Shanmugam and Nair (2004) identified factors in their study on mergers and acquisitions of banks in Malaysia like globalization, liberalization and information technology developments have contributed to the need for a more competitive, resilient and robust financial systems. George and Hegde (2004) reported a case for the delicate aspect of employees attitudes, their satisfaction and motivation, which are posited as prerequisites for customer satisfaction, which is, again, sine qua non for the competitive sustenance of the organization. Chew and Sharma (2005) examined the effectiveness of human resource management (HRM) and organizational culture on financial performance of Singapore-based companies involved in mergers and acquisition activities. They used the method of content analysis to collect information on cultural values and HRM effectiveness, using Kabanoffs content analysis. Culture profiles were then assigned to organizations in the sample following the results from cluster analysis. Various financial ratios were used to measure organizational performance. Finally, regression analysis was performed to test various hypotheses. The key finding of the study suggests that organizations with elite and potential leader, when complemented by human resource effectiveness, had a better financial performance as compared to other organizations. At the end it was concluded that to achieve better financial results by undertaking merger and acquisition activities organizations need to have elite or leadership value prof ile. Seo and Hill (2005) identified six theories viz. anxiety theory, social identity theory, acculturation theory, role conflict theory, job characteristics theory, and organizational justice theory to explain problems in managing the merger and acquisition and organizational change process. These theories have implicitly or explicitly formed the basis for the past MA literature. The authors integrate these theories into one conceptual framework that clearly delineates unique sources of problems that can emerge in different stages of MA integration, their psychological and behavioral effects on employees, and prescriptions to address the problems. According to Mylonakis (2006a) an important parameter in the relationship between the number of branches and employment is branch size. He has used most well-known indicators for the evaluation of staff efficiency in banking sector i.e. operating revenue per employee, personnel expenses per employee and pre-tax profits to personnel expenses. He observed that operating revenue either fall or remains stable, administrative expenses per employee increase for every examined bank and pre-tax profits to personnel expenses indicator showed how many Euros are gained by the bank for every euro spent in staff payroll. Mylonakis (2006b) has examined in his article that how bank employees perceive bank MAs and how it is expected to affect their personal and professional career. The results showed that bank employees feel personally threatened by mergers and acquisitions, which are not considered to be justified and necessary entrepreneurial activities conducive to enhanced, quality banking services. Mergers and Acquisitions often have a negative impact on employee behavior resulting in counterproductive practices, absenteeism, low morale and job dissatisfaction. It appears that an important factor affecting the successful outcome of acquisitions is top managements ability to gain employee trust. Wickramasinghe and Chandana (2009) took views of 109 employees of two banks of Sri Lanka, which had undergone an extension merger and a collaborative merger and reported that employee perceptions are affected by the type of the merger and employees are less satisfied in the collaborative merger than in the extension merger. Further findings revealed that age, gender, and marital status influence the perceptions of the respondents and among those age is the most influential. DeYoung, Evanoff and Molyneux (2009) have found in their study that the changes in deregulation, allowed commercial banks and other financial services firms to expand through mergers and acquisition into geographic markets and product markets. Marmenout, K (2010) conducted experimental study to examine how employees make sense of a merger announcement and investigates the relationship between deal characteristics (culture clash potential, degree of integration, position in deal structure) and employee attitudes. As employees make sense of the merger, higher perceived uncertainty is associated with greater dysfunctional outcomes. Calipha, Tarba and Brock (2011, p. 1-24) have reviewed MA motives and success factors in their article such as entering a new market, gaining new scarce resources, achieving synergies and other managerial and organizational factors that are associated with MA i.e. relative size of MA partner, managerial involvement, culture and organizational structural issues etc. Goyal and Joshi (2012a) identified the general sentiments, challenges and opportunities for the Indian Banking Industry. They concluded challenges and opportunities like rural market, transparency, customer expectations, management of risks, growth in banking sector, human factor, global banking, environmental concern, social, ethical issues, employee and customer retentions. They further concluded that banks are striving to combat the competition and the competition from global banks and technological innovation has compelled the banks to rethink their policies and strategies. (2012b) studied the growth of ICICI Bank Ltd. through mergers, acquisitions, and amalgamation. The article concluded that a firm must devise a strategy in three phases i.e. Pre-merger phase, acquisition phase and post-merger phase. 3. Research Methodology 3.1 Objectives of the Study: To identify the factors responsible for employees satisfaction. To assess the satisfaction level of employees, after merger. To assess the stress level of employees (post merger). 3.2 Sampling Distribution 3.2.1 Universe Total 463 branches of BoR were operating across India before merger and out of this total 293 Branches were operating in Rajasthan. Out of these 293 branches, there were total 31 branches operating in Udaipur before merger and merely 14 branches were situated in Udaipur city. 3.2.2 Sample unit There were total 14 branches of erstwhile BoR, which are now functioning as ICICI Banks branches after merger, Employees of these branches are considered for sampling purpose. 3.2.3 Sample Size A small sample of 30 bank employees from erstwhile BoR is drawn by using stratified purposive sampling. 3.2.4 Data Type Primary and Secondary data will be used to achieve the objectives. 3.2.5 Research Instrument Schedules (structured) and personal interviews methods are used for primary data collection. Publications from company, books, journals, magazines and various websites are referred for secondary data collection. 3.2.6 Research Tools Paired sample t-test and is used to test the hypothesis and process the data. Data processing is done by SPSS 13 software (student version) and weighted average method is used. Where; d = x -y 3.2.7 Limitation of the Study The limitation of the study is that it is based on small sample size with geographical constraint and time. The respondents were contacted at the respective bank and appointments were taken. Then, they were contacted as per their convenience and ease. The budget was a major constraint for this study. 3.2.8 Hypotheses H01: There is no significant difference between employees satisfaction level (pre-merger and post merger). H02: There is no significant difference in stress level of employees between pre-merger and post-merger. 4. Conceptual Framework: Mergers and acquisitions is a phenomena which has been used as a tool for growth and a tool for survival of sick units in banking industry. There are certain provision in the Banking Regulation Act 1949, which helps us to understand the basic concept of mergers and acquisition. 44A of Banking Regulation Act 1949 clearly defines procedure for amalgamation of banking companies. According to it a draft of amalgamation scheme should be produced before shareholders of each banking company. If the scheme of amalgamation is approved by the requisite majority of shareholders in accordance with the provisions of this section, the sub-section (4) states that it shall be submitted to the Reserve Bank for sanction and shall, if sanctioned by the Reserve Bank by an order in writing passed in this behalf, be binding on the banking companies concerned and also on all the shareholders thereof. Section 45 of the act defines the power of Reserve Bank to apply to Central Government for suspension of business by a banking company and to prepare scheme of reconstitution of amalgamation in certain condition like public interest, depositors interest, for the interest of banking system and reconstruction of the banking company. 5. Conceptual Analysis of Merger of the Erstwhile Bank of Rajasthan Ltd. and ICICI Bank Ltd. 5.1 Historical Background: The Bank of Rajasthan Ltd. (BoR) was incorporated on May 7, 1943 as a Company defined under the Companies Act, 1956 and has its Registered Office at Udaipur, Rajasthan. The Bank of Rajasthan had a network of 463 branches March 31, 2009. The primary object of the Transferor Bank was banking business as set out in its Memorandum of Association. For over 67 years, the Bank of Rajasthan had served the 24 states with 463 branches as a profitable and well-capitalized Bank in India. It had a strong presence in Rajasthan with branch network of 294 which is 63 percent of the total branches of BoR in India. The men power strength of BoR was more than 4300 employees across India. The balance sheet of the Bank shows that it had total assets of Rs. 173 billion, deposits of Rs. 150.62 billion and advances of Rs. 83.29 billion as on March 2010. The profit and loss account of the bank shows the net profit as Rs. -1.02 billion as on March 2010, which shows that bank, was not in good financial condition. On the other hand The ICICI Bank Ltd. was incorporated on January 5, 1994 under the Companies Act, 1956 and has its Registered Office at Landmark, Race Course Circle, Vadodara, Gujarat. The Transferee Bank, as on May 21, 2010, has a network of 2,000 branches and extension counters and has over 5,300 automated teller machines (ATMs). At present the bank has 79,978 employees with strong financial position like total assets of Rs. 3634 billion, total deposits of Rs. 2020.16 billion, advances of Rs. 1812.06 billion and net profit of Rs. 42.25 billion as on March 2010. 5.2 Scheme of Amalgamation: According to the scheme of amalgamation of the Transferor Bank with the Transferee Bank, it is clearly stated that the Scheme was formulated as per the Section 44A of the Banking Regulation Act, 1949, as per the guidelines of Reserve Bank of India for merger/amalgamation of private sector banks and in accordance with the applicable provisions of the Companies Act, 1956, and the Memorandum and Articles of Association of the Transferor Bank and the Transferee Bank and other applicable provisions of laws. 5.3 Strategic Intent: The objectives and benefits of this merger are clearly mentioned in the scheme of this merger by ICICI Bank that its customer centric strategy which places branches as the focal points of relationship management, sales and service in geographical micro markets. As it is evident that the BoR had deep penetration with huge brand value in the State of Rajasthan where it had 294 branches with a market share of 9.3% in total deposits of scheduled commercial banks. It was presumed that the merger of BoR in ICICI Bank will place the Transferee Bank among the top three banks in Rajasthan in terms of total deposits and significantly augment the Transferee Banks presence and customer base in Rajasthan and it would significantly add 463 branches in branch network of ICICI Bank along with increase in retail deposit base. Consequently, ICICI Bank would get sustainable competitive advantage over its competitors in Indian Banking. 5.4 Issues Emerged: When the information about this merger was communicated to the employees, they did not accept this merger. All the employees were against this merger as it was evident from the strike and agitation by all the three major employee unions i.e. All India Bank of Rajasthan Employees Federation, All India Bank of Rajasthan Officers Association and Akhil Bhartiya Bank of Rajasthan Karmchari Sangh, subsequently demanding the immediate termination of the ICICI-BoR merger proposal. It is a very strong phenomenon from the behavioral aspects of employees in the growth strategy like mergers and acquisitions. It is quite possible that this human aspect may hamper the whole strategic challenges of the bank or any other organization adopting the strategic tool. 5.5 Future Implication: The issue of employees perception towards mergers needs special attention from researchers and thinkers in order to convert mergers as synergy. At this juncture, the prevalent challenge for ICICI Bank Ltd. was to encounter the agitation from the 4300 BoR employees. Now, since the merger has taken place the critical issue for discussion is the management of Human Resources in the course of Mergers and Amalgamation. The mist of human aspect in the process of MAs can be removed by the turning the pages of available literature for better vision in strategy formulation. 6. Data Analysis and Interpretation: Demographics Table 1: Age * Gender Cross tabulation Gender Total Male Female Age 20-30 1 2 3 31-40 2 7 9 41-50 3 5 8 51-60 8 2 10 Total 14 16 30 Table 2: Designation of the Employees * Gender Cross tabulation Gender Total Male Female Male Designation of the Employees Branch Manager 10 0 10 Senior Manager 2 1 3 Manager 2 3 5 Senior Executive 3 4 7 Executive 2 3 5 Total 19 11 30 In analysis, following scale (Table 3) will be used to interpret the mean values of ranks. Results Interpretation 1.00-1.80 Very poor 1.81-2.60 Poor 2.61-3.40 Moderate 3.41-4.20 Good 4.21-5.00 Very good Table 4: Pre-Merger Rank Analysis S. No. Factors Weight Total Weighted Total Weighted Mean Rank 1 2 3 4 5 Very Poor Poor Moderate Good Very Good 1 Satisfaction Pre-Merger 0 8 12 9 1 30 93 6.20 9 2 Work Culture Pre-Merger 0 7 16 6 1 30 91 6.07 12 3 Quality of Management Pre-Merger 0 7 18 5 0 30 88 5.87 17 4 Infrastructure Pre-Merger 0 7 9 12 2 30 99 6.60 2 5 Salary Pre-Merger 0 7 17 6 0 30 89 5.93 16 6 Time Schedule Pre-Merger 0 7 19 4 0 30 87 5.80 18 7 Communication with Senior Pre-Merger 0 4 21 4 1 30 92 6.13 11 8 Authority Provided by the Bank Pre-Merger 0 7 17 5 1 30 90 6.00 13 9 Responsibility Level Pre-Merger 0 9 18 3 0 30 84 5.60 21 10 Designation Provided by the Bank Pre-Merger 0 10 15 5 0 30 85 5.67 20 11 Benefit Provided Pre-Merger 0 7 16 7 0 30 90 6.00 14 12 Involvement In Decision Making Pre-Merger 0 6 22 2 0 30 86 5.73 19 13 Job Security Provided Pre-Merger 0 7 16 7 0 30 90 6.00 15 14 Opportunity for Advancement Pre-Merger 0 3 21 6 0 30 93 6.20 10 15 Working pattern Pre-merger 0 3 18 6 3 30 99 6.60 3 16 Stress Level Pre-Merger 0 4 19 6 1 30 94 6.27 5 17 Ambience Pre-Merger 0 4 20 4 2 30 94 6.27 6 18 Training Development Pre-Merger 0 4 17 8 1 30 96 6.40 4 19 Compatibility Pre-Merger 0 4 19 6 1 30 94 6.27 7 20 Perks Responsibility Pre-Merger 0 4 20 4 2 30 94 6.27 8 21 Redressal Pre-Merger 0 3 14 12 1 30 101 6.73 1 Table 4 reveals the ranks of the variables used in the study and derived by weighted average method. The responses were taken from bank employees on five-point Likert scale and as per the above table it can be observed that the most ranked variables are redressal, infrastructure, working pattern, training and development, stress level, and ambience and so on. Thus, we can say that employees were on the verge of merger and they were in ambiguous situation what to do. On the contrary, in table 5, the employees rated one of the most important factor is Benefit Provided Post-Merger, infrastructure, compatibility, working pattern, stress level, perks and responsibility and so on. Thus, it can be said that financial benefits provided by the transferee banks like salary hike has affected employees. Some more variables rated by employees like working pattern which has also affected the employees. BoR employees were not exposed to high end technologies in banking sector. Stress management in the course of mergers and acquisition is one of the most debatable issue as MAs brings new working culture, new technology, infrastructure, colleagues and peers and it takes time to make adjustments with these. Table 5: Post-Merger Rank Analysis S. No. Factors Weight Total Weighted Total Weighted Mean Rank 1 2 3 4 5 Very Poor Poor Moderate Good Very Good 1 Satisfaction Post-Merger 0 2 8 16 4 30 112 7.47 12 2 Work Culture Post-Merger 0 2 7 14 7 30 116 7.73 8 3 Quality of Management Post-Merger 1 2 11 11 5 30 107 7.13 19 4 Infrastructure Post-Merger 1 1 3 19 6 30 118 7.87 2 5 Salary Post-Merger 1 3 8 14 4 30 107 7.13 20 6 Time Schedule Post-Merger 0 3 8 14 5 30 111 7.40 13 7 Communication with Senior Post-Merger 0 2 11 13 4 30 109 7.27 16 8 Authority Provided by the Bank Post-Merger 0 6 6 6 12 30 114 7.60 10 9 Responsibility Level Post-Merger 0 4 9 12 5 30 108 7.20 18 10 De

Othello :: essays research papers

OTHELLO In the play Othello, the character of Othello has certain traits, which make him seem naive and unsophisticated, compared to many other people. This is why Iago, is able to manipulate him so easily. Iago told Roderigo, "O,sir, content you. I follow him to serve my turn upon him "(I, i lines 38-9). Iago is saying, he only follows Othello to a point, and upon reaching it he will not follow him any longer. This is the first sign of how deceitful Iago will be. Iago has his own evil agenda in mind and he will use his reputation of being "honest Iago" to influence Othello. The Moor, as many Venetians call him, is of strong character. He is very proud and in control of every move throughout the play. The control is not only of power, but also of the sense of his being who he is, a great warrior. In Act I, Othello has runs into Brabantio, who has come to kill him, but before anything could happen Othello said, "Hold your hands, both of you of my inclining and the rest. Were it my cue to fight, I should have known it without a prompter" (I, ii, lines 80-3). The power shown here is quite astounding. The nature of Othello's character is of a dark man. A dark man, not only because he is black, but also because his whole person is very mysterious. He is mysterious in that he believes there is magic brewing everywhere. With this dark side he is also very outgoing, and not very bright. It is almost too easy for Iago to trick him into believing that Desdemona is unfaithful. Though he doesn't reflect too much on his past, it is apparent that he has been very successful in many battles and earned the rank of general. The fact that he is supposed to be a experienced soldier and leader contradicts his actions of letting his jealous emotions destroy his life. For all the dangers and encounters he has been involved in, this man is still naive of the corruptness of other individuals. Othello has a trusting nature that will bring about his downfall. He put his trust in Iago during times of war and during Othello's marriage to Desdemona. Although this wasn't very bright of Othello, even if he was not as naïve or more cynical, it still would have been hard for him to discover that Iago was lying.