Friday, September 20, 2019
Sony Ericsson Sony Ericsson: Introduction Corporate structure Sony Ericsson is a global manufacturer and distributor of mobile multimedia devices which includes feature-rich phones, mobile accessories and PC cards. Products are innovative blend of powerful technology with communications, imaging, music, and entertainment applications. As a net result, Sony Ericsson is serving market with enticing brand that provides end users desirable fun products. Sony Ericsson was established by telecom leader Ericsson and consumer electronics giant Sony Corporation in 2001. It ownership is equally owned by Ericsson and Sony. Its first product came in market in 2002. Its products have universal consumer appeal. They are different in areas of music, imaging and applications. Company has developed products with advanced technologies such as 2G and 3G platforms. Product research development, design, manufacturing, marketing and customer services are major undertakings by Sony Ericsson. Its global management is headquartered in London while R D is in U.K, Fran ce, Sweden, India, Japan, China and United States. The Firm has around 3,500 around the globe. Sony Ericsson is accepted as leader in mobile designs and innovations. Its many products won awards like T 610, K750i as best 3G handset for 2004. GSM Association awarded K800 Cyber-shot phone as best 3GSM in February 2007. Sony Ericsson has built many partnerships for continuous innovative products development. Partnership with Sony BMG is a way for bringing best and innovative content to its customers. In gaming applications, Sony Ericsson took the lead in launching first Java 3D-enabled handsets, and is looking forward to bring 3D gaming to a wider segment of mobile users. Background of Sony-Ericsson Ever since the Japanese electronics company Sony and the Swedish telecom giant Ericsson came together to form Sony Ericsson, big things were expected in terms of technologically advanced wireless phones as well as improved sales and market shares. However, the first year passed with a lot of disappointment. Sony Ericssons already low market shares began to drop rapidly and the company was losing money. On the other hand, the much anticipated Sony Ericsson T68i phone was introduced and was a major hit. It was the first GSM/GPRS (global system for mobile communications/general packet radio service) color screen handset. Its Bluetooth technology was also the first of its kind, allowing wireless connections to headsets and PC synchronization. One of the accessories included a snap-on digital camera, which has become quite popular and a must for all new models. In the past year, Sony Ericsson has seen a revival in the company as they continue to introduce new revolutionary devices such as the P800 and T610 and set new standards. All this success has contributed to an increase in market shares and has pushed them back into the top five in cell phone manufacturers. In order to continue this success, a new IMC plan is needed. Creativity and flexibility is required in order to succeed in the mobile-phone industry. No other industry changes faster, or experiences more sudden and rapid changes to fortunes. The industry was shaken by the alliance of two consumer electronic giants in October 2001, Sony Corporations and Ericsson AB. Sony Ericsson mobile communications is a fifty-fifty joint venture between Japans Sony Corp. and Swedens Ericsson AB. With headquarters located in London, Sony Ericsson became the sixth largest global mobile phone corporation in 2005 following closely behind competitor Nokia. Motivations for the joint venture alliance as well alternatives to a joint venture will be explored, concluding with an examination of the problems and strategies used throughout the alliance to aid Sony Ericsson to become a world renowned mobile supplier. Complementary asset sharing and knowledge transfers were among several reasons motivating the alliance. Ericsson was heavily criticized in the past for poor manufacturing capabilities as Ericsson previously outsourced its production procedures to Flextronics in order to reduce costs (Electronic Times, 2001). Alongside that, Ericsson was associated with poor designs in terms of aesthetics and was unable to attract a large pool of consumers especially teenagers and young adults. Furthermore, due to the ever changing industrial environment of the mobile-phone industry, Ericsson was forced behind due to its inability to keep up-to-date with the market and as a consequent, slowly loosing its already minimal market share. Ericsson was buying chips from a single source, a Philips plant in New Mexico. Nokia was also buying chips from same facility. In March 2000, a fire at this facility contaminated the facility. Philips gave assurance to Ericsson and Nokia that production will start again just a week time. But it did not happen. Nokia purchased chips from other sources. So Ericsson faced serious shortages. This reduced Sony Ericssons competitive ability to introduce new phones and maintaining supply of current phones. Sony Ericsson, after its new identity introduced first phone in 2002 and now has a product portfolio for meeting demands of all consumer target groups. Sony Ericsson introduced the Walkman-branded W series music phones in 2005 (fourteen models to date: W200, W300, W550, W600, W610, W700, W710, W800, W810, W830, W850, W880, W900 and W950) Branding Key to Sony Ericsson Growth Plan The difference in mid-end hand sets and top-end models is reducing because of technology advancements in mobile phone handset accessories market. Increasing liberalized regional telecommunications is boosting cellular subscriptions and a labor force with high disposable incomes, the Middle East has become a lucrative market for handset manufacturers such as Sony Ericsson. The company has been successful in this emerging market due to successfully fusing innovative technology to develop products. Sony and Ericssons combination of core competencies is a competitive edge of Sony Ericsson. digital cameras and MP3 players have now become essential features of handsets, Sony Ericsson handsets like Cyber shot and Walkman handset ranges are a direct attempt to tap the Sonys heritage in both markets respectively. Sony Ericsson supports retailers and resellers by advertising and marketing campaigns. Sony Ericsson has announced fusion of entertainment and communication for their customers as their new brand strategy. They are adopting a new brand message in collaboration with Sony Group, Ã¢â¬Å"make. BelieveÃ¢â¬ . It will use seven colors in its logo as part of its rebranding strategy. They will involve consumers at a greater extent in their branding process. They plan to do this by focusing on their interactive digital and social media efforts to communicate with their target consumers. Sony Ericsson connects on the web Winning new mobile customers is becoming easy by digital marketing. Two major brands one big company. Combining a Swedish company, Ericsson with one from Japan, Sony, it shares a design and communications history with history of marketing expertise and gaming, music and entertainment content on the other. Both have invested millions in this venture. The company had a slow start but it got the momentum in 2004. According to Superbrands, Sony Ericsson is among coolest brands in the UK. But in some previous years, it has been facing losses due global slow down and intense competition. Digital has played a good role in its growth. The digital budget is around 15 %. For some sets, it can go up to 30%. The early technology adopters are usually looking online for making their choices. So web is a great leap of imagination. The sector and market segment are worthwhile for its adaptation. It is a sustainable part of Sony Ericssons marketing mix and it will continue its evolution in future. The investment is easier to make, getting feedback from consumers is easy. The people in technology now are much more sophisticated than past. Technology is enabling in work and general living. By giving brand experience online, Sony Ericsson provides consumers tangibility and technology, both with explanation of the product. Now the decision making is more dependent on online sources. Marketing mobile phone is quite different from marketing other products. Networks form direct relationship with customer. Sony Ericson does not do this one-to-one connection. Sony Ericssons branding should not have impact only on consumers but also on retailers and its distributors. Mobile up gradation is more frequently than cars, so they have limited shelf life. This should be considered in any campaign. Digital marketing has solution to tackle such problems. In digital marketing, contact with customer is direct. Sony Ericsson is working closely with networks. They are mindful about direct customers as well. SE works with them to ensure that they do not market product too quickly. Sony Ericsson has been working with Dare for launching its handsets in US. Sony Ericsson has always recognized important role played by digital channels. To reduce these channels, Sony Ericsson uses a micro site for promotion of each mobile set, providing a brand experience, with having link with corporate site (www.sonyericsson.com). Corporate hub offers more details about handsets. Sonyericsson.com. is managed by Toon Diependaele, who is director of digital marketing at Sony Ericsson. Sony Ericsson has emphasis on building a global framework with having room for local implementation. It has to [provide wealth of information in 63 country areas with 30 of its main products at any one time. The user benefits are explained in non-technical way for the understanding of the common man. It is about how phone will help you in making your life easier. It can also be about benefits due to some new feature like use of MMS in T610. Design and creativity go side by side in online marketing. The product tells the idea. For example, S700 has the idea of picture quality. So its performance and functionality is the basis of the idea. The faith in digital marketing is natural for an organization founded 2001 and who is in business of selling E mobile phone. This is a digital age. And Sony Ericsson recognizes this fact in every way of its functions. Even in its logo which is dynamic. The development in this industry is at a surprising speed. So to meet the demands of changing consumer tastes, the products are dynamic too. For T610 camera phone is very popular phone, but new products in the same category have been introduced recently. Sony Ericson has become pioneer in use two sided online banners for pushing its new handsets. New generation of camera phones are following dual front strategy. They can be handled horizontally. Quickshare of pictures taken by the camera make these handsets easy to use for picture messaging. Quickshare is one way of sharing of pictures common in all Sony Ericsson mobiles through Bluetooth. Themes are extended from functionality of the handset. The K500i is based on idea that technology should save the time. For a handset with gaming, picture capability and MP3 playback will use broader theme. Users can also give suggestions on website. Sony Ericsson had an exhibition on its site, featuring picture taken by K700 by celebrities. The exhibition was also shown at an art gallery. Website is considered hub of all the activities. It helps in building positive brand image through its website. Website gives opportunity to Sony Ericsson to expand life span of its products online. This theme is should continue in future as well. Sony Ericsson is doing things differently with its online marketing. It also used iTV channel when the opportunity came on the way. The idea of advertising was very strong, although it presents a problem in production cost and accountability. Networks are usually involved in the process selling. So, coordination between Sony Ericsson and networks needs to be increased to sell. The online marketing campaigns create desire in customers. Different approach is used for different segments of the market. When dealing with smart phones, the approach has to be entirely different from a product that is at entr y level. Content such as free ringtones and java games are diving factors for the sale. It is also suggested that Sony Ericsson should be picture massaging. Sony Ericsson ha s realization that imaging trend is going to continue. About 95% percent of the mobile phones purchased in last years data shows that they were picture enabled. After much taking has been done about gaming, music phones are area where improvement is needed for better services. Music has appeal to all people; they might have different tastes in music. The ringtones are built by ensuring quality. 3G is now more talked about technology and a lot of opportunity in this segment .We need to rely on networks, but nothing has been revealed. No medium will be required for this purpose. The marketing efforts of Sony Ericsson will drive new medium. Purchases of consumer can be helpful in researching customers.. The peer group is involved in the process Handsets with higher value s. Sony Ericsson to Adopt Sony Branding Identity Ã Sony Ericsson is reformulating its strategy to move closer to its parent Sonys brand identity. It is now using phrase Ã¢â¬Å"make. Believe.Ã¢â¬ The decision has been taken at strategic marketing level and several strategic marketing campaigns will be launched shortly for realignment of the two. A fusion of communication and entertainment had always been focus of Sony Ericsson since start of the joint venture. This make, believe also brings Sony Ericsson closer to Sony group companies. Entertainment strategy becomes more obvious from this campaign. This ongoing transformation is lying foundation fro new outlook of Sony Ericsson. Realignment is vital part of this strategy. It has combined this strategy with a new culture of openness. This will shift the way of planning and building new prepositions. Social and digital media has brought customer closer to Sony Ericsson. Sony Ericsson shifts adspend into digital Sony Ericsson is boosting its digital adspend to Ã £13m as it gives the internet a more central role in its global marketing strategy. The handset manufacturer plans to increase the proportion it invests in website development and online advertising from 15% to 25% of its Ã £50m marketing budget during 2008. At the Mobile World Congress in Barcelona, Sony Ericsson head of marketing Dee Dutta outlined a strategy to strengthen the brands online presence in key international markets in an effort to remain relevant to youth consumers. Over the coming year, Sony Ericsson will begin diverting spend from TV, press and point-of-sale advertising to digital marketing around its handset brands, including Cyber-shot and Walkman. The company also intends to give the internet a crucial role in establishing its Xperia sub-brand. In the first phase, it will launch a web portal showcasing its X1 handset, which is being seen as a competitor to Apples iPhone. Sony Ericsson currently works with Dare on digital global projects, but Dutta is considering appointing a roster of agencies to handle the increased workload. Digital will soon be the de facto method by which we communicate and engage with consumers, he said. A strong online presence is crucial to the future of our brand on a global scale. Sony Ericsson is the worlds fifth-biggest mobile phone manufacturer behind Nokia, Motorola, Samsung and LG. The company hopes its digital strategy shift will help it gain ground on rivals. Gareth Jones, Sony Ericsson realigns brand in next stage of company transformation * Evolves visual identity and brand values as next stage of business transformation * Shifts consumer engagement to digital, viral and social media platforms * Aligns with Sony Group companies under new Ã¢â¬Ëmake.believe brand message London September 3rd, 2009 Sony Ericsson today announced the next stage of its on-going business transformation with the realignment of its external visual identity and brand values in order to deliver its vision of becoming the Communication Entertainment brand. The company also confirmed its adoption of the newly announced Sony brand message Ã¢â¬Ëmake.believe in all consumer communication in order to reinforce its entertainment credentials and collaboration with the Sony Group. Fusing communication and entertainment has been at the core of Sony Ericssons offering since the start of the joint venture.make.believe aligns Sony Ericsson with the Sony Group companies and reflects the coming together of communication and entertainment. By re-aligning our brand and adopting Ã¢â¬Ëmake. believe we further highlight our entertainment offering to consumers, said Cathy Davies, Head of Brand Strategy at Sony Ericsson. Our ongoing business transformation is laying the foundations for the new Sony Ericsson. Our re-aligned brand is a vital part of this strategy. Combined with a new culture of openness it marks a shift in the way we plan and build our propositions, as well as how we invite consumers to engage with us via digital and social media platforms, said Lennard Hoornik, Head of Marketing at Sony Ericsson. Visually, Sony Ericsson will expand the appeal of its globally recognized Ã¢â¬Ëliquid identity logo by adding seven new color variations plus a new a Ã¢â¬Ëliquid energy flowing from the logo to make it more playful and visually appealing for the digital arena. The company also aims to adopt a more open and questioning attitude by inviting greater consumer participation in the brand through a stronger focus on interactive digital and social media channels. A series of strategic marketing campaigns this autumn will launch the realigned visual identity and showcase the start of make. believe at Sony Ericsson, including a Ã¢â¬Ëspark something viral campaign for the new Satio, Aino and Yari phones and a global activation campaign as the official global handset sponsor for the 2010 FIFA World CupTM to capture the passion of football fans around the world. http://www.fiercewireless.com/press-releases/sony-ericsson-realigns-brand-next-stage-company-transformation Sony Ericsson promulgation of a new strategy Sony Ericsson has been hard on the global economic slowdown, but the company said that the new strategy, focusing on services and entertainment, that he hoped to bring him back on track. On Sunday evening, here on the eve of GSMA Mobile World Congress, Mobile Phone Maker, which is a joint venture between Sony Maker of consumer electronics and telecommunications equipment Maker Ericsson, unveiled a new strategy that he said fuses communications and entertainment. Ã¢â¬ The new strategy is that, Sony Ericsson calls Ã¢â¬Å"Entertainment Unlimited. Managers have been fine detail at a press conference, but the company is planning a strategy that will integrate mobile phones with PCs and the percentage of TV entertainment content. In this strategy, the company announced MediaGo, which is a continuation of its PlayNow music service. MediaGo added service that allows users to download movies to their PC and then transfer them to your Sony Ericsson. The company announced W995 Walkman phone that can play the function of the length of films. This service will also enable the transmission of other media such as music, photos and podcasts. The service also allows users to synchronize their phone music library automatically subscribe to podcasts, and automatically convert files for best quality playback. The company also introduced stealthily peek at the new high goals, touch-screen phone called Idou. This 12.1-megapixel camera phone, supposedly designed for all types of multimedia functionality. But details about the product are limited until he runs in the second half of next year. Nevertheless, the leaders said that these two new phones will play a much more active role in the companys Ã¢â¬Å"newÃ¢â¬ strategy for more effective integration of entertainment on mobile devices and other devices throughout the home. Whats interesting about this supposedly new strategy is that it does not sound very new. Sony Ericsson was formed in 2001 as a joint venture between media and telecom equipment Maker. And since 2005, he was selling his Sony Walkman phones that allow people to listen to digital music on the go. But now the company argues that its Ã¢â¬Å"Entertainment UnlimitedÃ¢â¬ strategy takes things to a new level, where users can share and access to media of different products from mobile phones to personal computers to their television screens. Ã¢â¬Å"All that we have done to date has led us to this issue,Ã¢â¬ said Lennard Hoornik, head of global marketing and vice president at Sony Ericsson. Ã¢â¬Å"Weve created a music phone category in 2005, selling more than 100 million phones Walkman, and we are ready to open the next chapter in the development of the company.Ã¢â¬ It looks like a good idea, but it happens to one, that the share of its competitors. Nokia, the worlds largest mobile phone Maker, develops throughout the Ovi services platform called for more than a year that lets users share files from PC to phone and vice versa. And one of the things that are done in the Apple iPhone has been so successful its integration with existing media iTunes Store, where users have access to music, videos and podcasts. While Sony Ericsson strategy can not be revolutionary, adding more value to their products is likely required to move. The entire mobile phone market took a beating in the second half of the year, as consumers bought fewer mobile phones because of economic problems. And this trend will continue until the market starts to pick up. Recession hits Sony Ericsson is particularly difficult. In the fourth quarter of 2008 the company lost 187 million euros, or about $ 248 million. That compared with a profit of about 373 million euros in the fourth quarter of 2007. But it is difficult to say if this Ã¢â¬Å"newÃ¢â¬ strategy will enable us greatly. One bright spot in the mobile phone landscape in the next couple of years, seems to be smartphones. Market research firm IDC recently reported that while the overall mobile phone sales fell by 12.6 percent worldwide in the fourth quarter sales of smart phones actually work 22.5 per cent. The problem that Sony Ericsson is that it is not very well compete in the smartphone category. Last year at the World Congress of mobile devices, the company has made a lot of Buzz with their first device, Windows Mobile, Xperia X1. As of November, the phone was available in North America. But the problem is that he does not propose any major carrier in the U.S. and $ 800 prices for the unlocked and unsubsidized phone is too high for consumers, who can get iPhone 3G on AT T, BlackBerry Storm with Verizon Wireless, or Google Android G1 from T-Mobile USA for the subsidized price of $ 200 with a two-year contract. Given the fact that the smartphone market, where all the action is expected to be over the next couple of years, it surprising that Sony Ericsson will select the best feature phones to connect their new Ã¢â¬Å"Unlimited entertainmentÃ¢â¬ strategy. Details are still too scarce to know exactly how this will shake out. But Sony Ericsson needs a convincing and accessible smartphones that can take advantage of these entertainment and communication capabilities. And to compete effectively in this market, but now need to expand its distribution outside of Europe and Japan. In particular, it should cool and affordable smartphone for North American consumers. http://www.wojianfei.net/sony-ericsson-promulgation-of-a-new-strategy/ Sony Ericsson unveils marketing plans Sony is rolling out the brand message Ã¢â¬Å"make.believeÃ¢â¬ (read as Ã¢â¬Å"make-dot-believeÃ¢â¬ ) that will feature in advertising across its businesses Sony Ericsson, Sony Computer Entertainment, Sony BMG, Sony Pictures and brands such as Playstation 3 and Vaio. Lennard Hoornik, Sony Ericsson corporate VP and global head of marketing, says the new tagline aims to reflect the message that Ã¢â¬Å"anything you can imagine, you can make realÃ¢â¬ . It has also updated its visual identity, adding seven new colour variants to the logo, as well as a new Ã¢â¬Å"liquid energyÃ¢â¬ visual flowing from the logo. It was designed by Iris. Cathy Davies, head of brand strategy adds the brand developments will aim to give the handset maker a more playful identity as well communicating with consumers in a Ã¢â¬Å"more emotive wayÃ¢â¬ . It is part of the companys ongoing repositioning strategy to be known as a Ã¢â¬Å"communications entertainmentÃ¢â¬ brand. Sony Ericsson is planning to invest an estimated Ã £7m in the fourth quarter to promote its new hero handsets, the Japanese named phones Satio, Aino and Yari. The global launch will be spearheaded in the UK, with work created by Saatchi Saatchi. It will be first time the handset maker will feature the Ã¢â¬Å"make.believeÃ¢â¬ tagline in its advertising. It plans to launch a major above-the-line campaign, as well as digital and experiential flash mob activity centered around an attempt to bring space hoppers back into popular culture. http://www.marketingweek.co.uk/ Sony-Ericsson Declared Most Eco-Friendly Phone Technology company Sony-Ericsson was recently given the environmental nod, as its cellular phones were declared as one of the most environmentally-friendly technological gadgets. In its study Searching for green electronics, environmental organization Greenpeace called for computer and phone manufacturers to put forward their most eco-friendly products, ranging from cellular phones to notebooks to gaming consoles. After examining the products environment-related aspects such as amounts of dangerous chemicals, energy efficiency, recyclability and marketing strategies, Greenpeace heralded Sony-Ericssons phones, out of 37 other products from other manufacturers, to have obtained top honors for the most environmentally-friendly gadgets. According to TMCnet, Sony-Ericssons phones received a 5.3 rating, out of a possible 10. The generally passable score, according to Greenpeace, was acknowledged as the highest, considering studys low response turnout. The results, however, were considered to be a step forward to technologys adaptability to the demands of a clean environment, and the group recognized that encouragement was a key part of the study that must be further pushed. Since undertaking the survey we have already witnessed the arrival of greener products in the market, such as the Apples new laptop, the MacBook Air, and Nokias new phone, the Evolve, Greenbang quoted Yannick Vicare of Greenpeace Manufacturers still have a long way to go, Vicaire added, but more and more now are taking the environmental impacts of their products seriously. Sony Ericssons mobile music strategy Music has become one of the main drivers for 3G and large data entertainment services for the mobile phone end-user and will continue to gain in importance. Sony Ericsson is committed to maximizing the value and experience for the end-user and to increasing revenue for operators, and the Walkman family of mobile phones do this through music. Music-related services, content and applications are fundamental parts of our overall content strategy. We believe that super-distribution of music is the way forward. By this I mean the easy sharing of music between friends legally downloaded/transferred or by creating your own all combined with applications that can manage or personalize the music experience on your mobile phone. Even though the Walkman portfolio is the main focus of Sony Ericssons music activities, music solutions for our other series of mobile phones are just as relevant. Network limitations, product market reach, end-user choice and model-version exclusivity to certain operators mean that we need to make sure that the music experience is as good as possible across our product portfolio. Wemonitor the DRM standards set by the industry and strive to have products that are media source, and hence DRM, agnostic. All current Sony Ericsson mobile phones support the standard Open Mobile Alliances (OMA) DRM v 1.0. When actively using branded music (i.e. official copyright or other rights protected), DRM is the key for everyone who intends to play a role in this market. For the development of applications where branded music is only handled passively, e.g. media players, this is up to the developer, as long as it doesnt have a negative impact on the DRM protection of the music flowing through or being used by the application. The coming convergence of fixed and mobile broadband network services combined with the convergence of traditional audio-visual consumer electronics products with mobile phones will have a massive effect on the mobilemusic market. We foresee a tremendous growth. Sony Ericsson pins hopes on entertainment strategy At the core of its new strategy is something Sony Ericsson calls Entertainment Unlimited. Executives were thin on details at the press conference in Barcelona, but the company is planning a strategy that will bring together mobile phones with PCs and the TV to share entertainment content. As part of this strategy, the company announced MediaGo, which is an extension of its PlayNow Music service. MediaGo adds a service that lets users download movies onto their PC and then transfer them over to a Sony Ericsson device. The company announced the W995 Walkman phone, which will be able play the feature-length movies. The service will also allow the transfer of other media, such as music, photos and podcasts. The service will also allow users to sync their phones music library automatically, subscribe to podcasts and auto-convert files for the best-quality playback. The company also gave a sneak peek at a new high-end, touch-screen phone, called the Idou. This 12.1-megapixel camera phone is supposedly designed for all kinds of multimedia functionality. Details about the product are scarce, but it is due to launch in the second half of next year. That said, executives alluded to the fact that these two new phones will play a much larger role in the companys new strategy to better integrate entertainment on mobile devices and other devices throughout the home. Yet this supposedly new strategy for the company doesnt sound entirely new. Sony Ericsson was formed in 2001 as a joint venture between a media company and telecommunications equipment maker. And since 2005, it has been selling its Sony Walkman phones, which allow people to listen to digital music on the go. The company claims its Entertainment Unlimited strategy takes things to a new level, where consumers can share and access media across multiple products from mobile phones to PCs to their TV screens. Everything that we have done to date has brought us to this point, said Lennard Hoornik, head of global marketing and a vice president at Sony Ericsson. We created the music-phone category in 2005 selling over 100 million Walkman phones, and we are now ready to unveil the next chapter in the evolution of the company. The idea happens is one that its competitors seem to share. Nokia, the worlds largest mobile-phone maker, has been developing an entire service platform called Ovi for more than a year that allows users to share files from the PC to the phone and vice versa. And one of the things that has made Apples iPhone so successful has been its integration with the existing iTunes media store, where users get access to music, videos and podcasts. While Son
Thursday, September 19, 2019
Joggers Universe Evaluate Sue KoenigÃ¢â¬â¢s present strategy. Ã Ã Ã Ã Ã I think Sue is trying to satisfy too many customers. She needs to concentrate on her target market, which is a major portion of her core business and market to them. This would be the hardcore runners and expand on the services and information available to them. She should also create some special freebie that would gain word of mouth publicity to bring more people to her stores. Evaluate the alternative strategies she is considering. She has the right idea with the custom made shoes. The serious joggers would love this because they know what benefit they get from a shoe fitting perfectly. The small investment she has initially will be no problem once the word gets out that she has this special service or product off...
Wednesday, September 18, 2019
How do the writers create a sense of suspense? Fictional text need to be interesting so that the reader likes it. Many writers use many different things to capture their readerÃ¢â¬â¢s interest. Both Charles Dickens and WW Jacobs, in the Signalman and the monkeys paw both use different ways to try and keep the interest of their reader. The Signalman and the Monkey paw, are very similar both are horror stories set in 0ne location with very few characters. Even though they seem similar, they are actually told in different styles. Throughout the story the Signalman, Charles Dickens uses a Varity of methods to create atmosphere, tension and mystery. The author of this short story Charles Dickens was motivated to write this story because of a terrible train wreck at Staple Hurst, Kent, which he was involved in on 9 June 1865, in which several passengers died but he survived by luck. The story Ã¢â¬Å"The signalmanÃ¢â¬ starts with the quote "Halloa! Below there" as the story unfolds this quote becomes very important. At the start of the story Ã¢â¬Å"The signalmanÃ¢â¬ , suspense is created when the narrator calls out to Ã¢â¬Å"the signalmanÃ¢â¬ ; the signalman seems to stare at him in shock. It seems to be weird because the signalman seems to fear the narrator, or is somehow astonished by his presence. The signalmanÃ¢â¬â¢s actions create ambiguity, which is successful to create the overall suspense. Both the writers use conflict to create suspense, for example in the signalman, the narrator and the signalman seem to show a sense of conflict. For example the narrator presence, seems to astonish the signalman. The signalman saysÃ¢â¬ before he stirred I was near enough to him to have touched him, not even then removing his eyes from mine, he stepped back one step and lifted his handÃ¢â¬ the signalman is implying that he is uncomfortable with the narrator. Even the narrator notices the weird behaviour that is displayed by the signalman he says, Ã¢â¬Å"You look at me, I said forcing a smile, as if you dread meÃ¢â¬ . They do not understand each other at this moment; the both think that each other are ghosts. The signalman says, Ã¢â¬Å"I was doubtful, he returned, whether I had seen you before, where? He pointed at the red light he looked at there? I saidÃ¢â¬ . The signalman was implying that he had seen the narrator, under the red light that was the same place which he also said he had seen the ghost. The narrator also believes the signalman is a ghost he says, Ã¢â¬Å"A monstrous thought came into my mind as I perused the fixed eyes saturnine face, that this was a spirit not a
Tuesday, September 17, 2019
A literary technique is a device employed in literature to add depth to a writerÃ¢â¬â¢s work. These techniques can be obvious, such as the technique of rhyme in a poem, or subtle, such as juxtaposition, which can go unnoticed by the reader. In The Things They Carried, Tim OÃ¢â¬â¢Brien uses many such techniques to provide more depth to his book. Four literary techniques used by Tim OÃ¢â¬â¢Brien are symbolism, pathetic fallacy, irony, and juxtaposition. One literary technique prominent in The Things They Carried, particularly in the story by the same name, is symbolism. Throughout this story, OÃ¢â¬â¢Brien mentions all the things that the soldiers carry with them, both physical and emotional. However, the physical items that the men carried is more than just equipment- they are symbols that represent various facets of each soldierÃ¢â¬â¢s personality. For example, Ã¢â¬Å"Rat Kiley carriedÃ¢â¬ ¦ morphine and plasma and malaria tablets and surgical tapeÃ¢â¬ ¦ and all the things a medic must carry, including M&MÃ¢â¬â¢s for especially bad woundsÃ¢â¬ (OÃ¢â¬â¢Brien 5). The fact that Kiley carried medical necessities shows that he is a good paramedic devoted to doing his job well, but the M&MÃ¢â¬â¢s represent something different- KileyÃ¢â¬â¢s optimistic and kind outlook on the war and life in general. Conversely, the tranquilizers carried by Ted Lavender represent his terror of the fighting in the war and his inability to face reality, rather choosing to escape from it by taking drugs. This is an effective technique because, by using these symbols, OÃ¢â¬â¢Brien can let the reader figure out for him/herself deeper aspects of certain charactersÃ¢â¬â¢ personalities without actually stating them outright. Another literary device Tim OÃ¢â¬â¢Brien employs is pathetic fallacy, or nature mirroring humansÃ¢â¬â¢ emotions. In the story Speaking of Courage, Norman Bowker attempts to save KiowaÃ¢â¬â¢s life but fails. He becomes depressed and remorseful about what he should have been able to accomplish. For a long time afterward, Bowker struggles with the fact that he was Ã¢â¬Å"braver than he ever thought possible, butÃ¢â¬ ¦ not so brave as he wanted to beÃ¢â¬ (153); he is overcome with sadness and guilt. This is reflected in the weather at the time of KiowaÃ¢â¬â¢s death. The soldiers were camping out in a field along the Song Tra Bong, and Ã¢â¬Å"the rain kept getting worse. And by midnight the field turned into soupÃ¢â¬ (145). The rain emulates the emotions of the weary and despondent soldiers. Pathetic fallacy is a very useful technique because it helps to provide the tone for the story. If the story was a sad one but the weather was bright and sunny, the tone of the story would be wrong, and vice versa. In Speaking of Courage, the fact that it was raining during the main event of the story helps the reader gain and understanding of just how bleak and dismal the events that occurred were. Irony, or a discrepancy between expectation and reality, is another literary technique used by Tim OÃ¢â¬â¢Brien in The Things They Carried. Many of the titles of the stories contain irony themselves. For example, Speaking of Courage is more centred on the themes of failure and the inability to be courageous than it is about courage. The story Love is not, as it would seem, about mutual love, but rather unrequited love. Field Trip, an expression with a usually very positive connotation, is a story about a visit to a battleground where many lives had been lost. The Story How to Tell a True War Story also contains much irony within it. The main point of this story is that a true war story cannot be told because the simple act of telling it makes it untrue. The title of this story is ironic- OÃ¢â¬â¢Brien makes the reader think that he wants to instruct them how to tell a true war story, but the reader soon finds out OÃ¢â¬â¢BrienÃ¢â¬â¢s real intention- that telling a true war story is impossible. Another ironic idea within this story is the idea that war can be beautiful. You hate it, yes, but your eyes do not. Like a forest fire, like cancer under a microscope, any battleÃ¢â¬ ¦ hasÃ¢â¬ ¦ a powerful, implacable beautyÃ¢â¬ (81). This catches the reader off-guard because of how greatly it contrasts with the view of war we have been previously given. He continues to say that, Ã¢â¬Å"a true war story will tell the truth about this, though the truth is uglyÃ¢â¬ (81). This is very ironic because although the actual event may be beautif ul, if a true story is told about it, the story is ugly. This adds to OÃ¢â¬â¢BrienÃ¢â¬â¢s point that telling a story, even a true one, can only take away from the truth of the event. Using irony, OÃ¢â¬â¢Brien can present his message in a creative an interesting way, and this helps the readers understand his point better. Another technique used by Tim OÃ¢â¬â¢Brien is juxtaposition. The story The Lives of the Dead seems to be a bit of a non-sequitur to the rest of the book, however, OÃ¢â¬â¢Brien has put it where it is for a reason. The point of The Things They Carried is not simply to tell stories about the Vietnam War- the lesson goes deeper than that. It comes to teach that war is about more than just fighting- it is about the connection between life and death. It is about learning to detach oneself from death. It is about the sacredness and fragility of life. It is about so many things that many people never have to experience. But the Vietnam War is not OÃ¢â¬â¢BrienÃ¢â¬â¢s first time coming into contact with these kinds of issues. As a child, he had a beloved friend named Linda who died of cancer. LindaÃ¢â¬â¢s death was a major part of his growing up process. As a child, he already had to learn to distance himself from her death, saying, Ã¢â¬Å"It didnÃ¢â¬â¢t seem realÃ¢â¬ ¦ the girl lying in the white casket wasnÃ¢â¬â¢t LindaÃ¢â¬ (241). And although he did not realize it at the time, her death helped him to deal with all the deaths he encountered in the war. For example, when Curt Lemon dies, OÃ¢â¬â¢Brien refuses to see his body as a friend who died. Instead he says, Ã¢â¬Å"his body was not really a body, but rather one small bit of waste in the midst of a much wider wastageÃ¢â¬ (238). The lessons that OÃ¢â¬â¢Brien learned as a child are very relevant and linked to his experiences in the Vietnam War, which is why he chooses to include The Lives of the Dead. But this is not the only message that OÃ¢â¬â¢Brien wants us to take out of the inclusion The Lives of the Dead in The Things They Carried- he wants to convey that even though something that happens in oneÃ¢â¬â¢s life may seem horrible and meaningless, it may become of use to him or her later in life, and it may help him or her to get through an otherwise unmanageable time. OÃ¢â¬â¢Brien wants his reader to know that everything in life comes for a purpose. Throughout The Things They Carried, Tim OÃ¢â¬â¢Brien makes use of many different literary techniques. In the story The Things They Carried, OÃ¢â¬â¢Brien uses symbolism. In Speaking of Courage, the literary technique is pathetic fallacy. Irony is used in How to Tell a True War Story, among others, and juxtaposition is used in the story The Lives of the Dead. It can be seen that literary techniques have a simple but powerful effect in The Things They Carried.
Monday, September 16, 2019
LeninÃ¢â¬â¢s view of economic polices in Russia between 1917 and 1923 was shaped by the factors of War Communism, and the New Economic Plan (NEP). Lenin realized that to have a successful economy and to keep the idea of equality in Communism there had to be a compromise; there needed to be a balance of state control and individual incentive for the economy to prosper. Through the failure of War Communism and the success of the economy and the drift away from Communism with the NEP; Lenin learned the Ã¢â¬ËdoÃ¢â¬â¢s and donÃ¢â¬â¢tsÃ¢â¬â¢ of a successful economy. Lenin described what the country needed to do to have a successful economy, he said, Ã¢â¬ We have found that a degree of private commercial interest, with state supervision and control of that interest, is all we actually needÃ¢â¬ ¦ (doc. 5). This shows how both War Communism and the NEP were factors that shaped LeninÃ¢â¬â¢s compromising idea of what a economy needed to be successful. The War Communism policy was adopted to keep the Red Army supplied. During War Communism the government took control of industry, and told factories what to produce; and the government would take any grain that was produced by the farmers. The Cheka would steel the grain that the farmers produced, this made the farmers angry and they no longer had any incentive to grow crops because the crops would just be taken away from them. Also money became worthless, wages were paid in food or other goods, and many people bartered goods instead of using money. The situation for the farmers and the peasants got worse. By 1921 RussiaÃ¢â¬â¢s economy was shattered. Industrial production had drastically decreased; and the cities were in chaos. Agriculture had been demolished. War Communism was put in affect to increase the productivity of both industrial goods and food, but the workers and farmers saw no point in putting in the effort if in the end it would be taken away from them. War Communism led to the destruction of the economy of Russia. Lenin finally admitted that War Communism was a mistake, he said, Ã¢â¬Å"The small farmer needs a spur, and incentive that accords with his conditionÃ¢â¬ ¦ We are very much to blame for having gone to far; we overdid the nationalization of industry and trade, clamping down on the local exchange of commodities. Was that a mistake? It certainly was. (doc. 4)Ã¢â¬ This quote is an example of how Lenin realized that he had made a mistake and this quote also shows that Lenin understands that the workers and farmers need an incentive to work; with an incentive the economy will grow. LeninÃ¢â¬â¢s view of economic policies was greatly influenced by the failure of War Communism, and by the failure he was able to figure out another system that would revive RussiaÃ¢â¬â¢s economy. Lenin realized that to have a successful economy the people have to have the incentive to work. Lenin also knew that if he did not improve the economic state of Russia that the Communists would not survive; War Communism took the Ã¢â¬Ësafety netÃ¢â¬â¢ away from the Communists. Lenin had to act quickly to figure out another policy that would make the people want to work, and to revive the economy. In 1921 the NEP was created to fix the economy. Lenin created this new policy to try to burst the morale of the people and make them want to produce more grain or products. The transition form War Communism to the NEP was drastic, the people had to change there lives to fit this new, more capitalists society. Though the change to a more capitalist economy, the NEP was successful in Ã¢â¬Ëjump startingÃ¢â¬â¢ the farming production, for example. Lenin says, Ã¢â¬Å"Release of [surplus goods] into circulation would stimulate small farming, which is in terrible stateÃ¢â¬ ¦Ã¢â¬ (doc. 4) This is a great example of how Lenin realizes why he needs to change from the War Communism to the NEP, for a least one reason to increase the amount of grain produced. The creation of the NEP changed many laws that were once holding RussiaÃ¢â¬â¢s economy back. Grain requisitioning was stopped. Grain was no longer taken from the peasants. Also traders could buy and sell goods, which was illegal during War Communism. Smaller factories were returned to their former owners; and they were allowed to sell the goods they made and make a profit from them. Finally larger industries like coal and steel remained under state control; but some larger factories were able to sell their products. These were some of the main differences between War Communism and NEP. During the NEP the economy prospered, because people were now allowed to keep some of the goods they made and then sell them for their own profit. This made the people want to produce more so they could have more for their family. Lenin described some of the good affects that the NEP had, he said, Ã¢â¬Å"We have achieved much with our requisitioning system. Our food policy has made it possible in the second year to acquire three times as much grain as in the first.Ã¢â¬ (doc. 2) Lenin was talking about the great increase in the production of grain, this great increase was directly related to the NEP; because the peasants could keep some of the grain they made which gave them an incentive to work hard. Communists were angry because they saw the country returning to capitalism. They did not like the fact that bosses of factories called kulacks could hire men to work for them. Also Communists disliked the Ã¢â¬ËNepmenÃ¢â¬â¢, because they made a high profit by buying goods cheaply and then selling them for more. Though the NEP revived the economy, people, especially peasants were unhappy with the new capitalist society. LeninÃ¢â¬â¢s view of economic policies was changed through the NEP, he knew that people need the incentive to work, but he also knew he could not give the people to much economic freedom; the idea of balancing the policy of War Communism and NEP was LeninÃ¢â¬â¢s final view of how to keep the people happy and to sustain a great economy.
Sunday, September 15, 2019
Abstract The objective of this research is to find out if there is any correlation between work performance and job satisfaction through a sample study of sales personnel working in different banks. Additionally, this research sought to understand whether job satisfaction is linked to both work motivation and employeeÃ¢â¬â¢s perceived style of leadership by Managers. With the help of surveys and interviews conducted with the participants, it was established that job satisfaction was positively related with work productivity. Similar essay: Argyles Communication CycleWork motivation and employeeÃ¢â¬â¢s perceived style of leadership were also established as positively related with employee job satisfaction. These findings suggest that to increase work productivity, managers may be required to elevate the level of job satisfaction in employees, which may be potentially accomplished via a participative approach to leadership and effective motivation of employees. However, as the study is correlational in nature, the limitations of the current research are indicated under Discussion. Literature ReviewRelationship between Job Satisfaction and Productivity The most-used research definition of job satisfaction is by Locke (1976), who defined it as Ã¢â¬Å"a pleasurable or positive emotional state resulting from the appraisal of oneÃ¢â¬â¢s job or job experiencesÃ¢â¬ . There are other researchers and studies that support this notion of relationship between job satisfaction and productivity indicating that org anizations increasing job satisfaction is not only to benefit its employee but also for the organization financial advantages.As cited by Edward E. Lawler, job satisfaction is related to productivity as this comes from a path goal theory of motivation that has been stated by Georgopoulos, Mahoney and Jones, Vroom, Lawler and Porter. According to them, people are motivated to do things which lead to rewards that they value. In this case, a path-goal theory would predict that high satisfaction will lead to low turnover and absenteeism because the satisfied individual is motivated to go to work where his needs are being satisfied.As quoted by Dailey and Kirk, 1992, job satisfaction and organisational commitment share an inverse relationship with absenteeism and turnover intention, factors that can sharply cut bottom line. Adverse consequences include lower productivity and morale, and higher cost of hiring, retention and training. Thus, the reverse holds true whereby lower frequencies of absenteeism and turnover could lead to potentially higher contribution to organisational economic productive gains.In a research done by National Research Institute for one of the largest Food Services providers in the United States, it was suspected that employee satisfaction was the cause for high employee absenteeism, ruling out other tangible factors. Findings showed that low job satisfaction was evident; the National Business Research Institute (NBRI) Root Cause Analysis indicated that a gap existed between employees and the organization's short and long term goals, vision, and mission.Proposed recommendations from NBRI included several measures to relay management's strategic plans to the lowest-ranked employee and ensuring each and every employeeÃ¢â¬â¢s daily activities were aligned according to such plans. Thereafter, subsequent employee survey results showed significant increases on employee satisfaction, enhancing Total Company Employee Satisfaction dramatically.Emplo yee Satisfaction Scores took a turn for the better, from a Weakness (below the 50th percentile of the NBRI Normative Database) to being Strength (above the 75th percentile of the NBRI Normative Database) in only six months. WhatÃ¢â¬â¢s more, employee absenteeism was reduced by more than 60%. With this correlation, Organ (1988) found that the job performance and job satisfaction relationship follows the social exchange theory in which employeesÃ¢â¬â¢ performance constitute a giving back to the organization from which they get their satisfaction.Recognising the fact that low job satisfaction leads to low productivity, in turn aggravating organisational performance, it is imperative organizations assess the strength of the relationship between employee job satisfaction and productivity level because of underlying implications on redesigning certain aspects of work. A study was conducted by Shanu and Gole (2008) on the satisfaction level of 100 managers from 15 private manufacturing firms. A job satisfaction instrument assessing areas such as recognition, monetary remuneration, working conditions, nature of job, and future advancement was used.Then, these survey findings were compared with performance evaluations done by executives of assorted companies. In the wake of this, it was discovered that performance levels are consistent with high satisfaction scores. This is congruent with a review of 301 studies, revealing that job satisfaction bolsters up work performance, with a higher inclination towards professional jobs, compared to less complex jobs (see Saari & Judge, 2004). While there are studies to show this correlation, the present study was concerned with whether job satisfaction is significantly associated with performance in the economic aspect.In a study conducted on 42 manufacturing companies, Patterson, Warr, and West (2004) found that- holding other factors like company size, previous productivity, and industrial sector constant- productivity (fin ancial value of net sales per employee) is positively correlated to job satisfaction In another study, Herzberg et al. (1959) stated that (positive) satisfaction is due to good experiences, and that these are due to `motivators' Ã¢â¬â achievement, recognition, the work itself, responsibility and advancement.Dissatisfaction is due to bad experiences caused by `hygiene' factors Ã¢â¬â supervisors, fellow workers, company policy, working conditions, and personal life (Herzberg et al. , 1959). Therefore, it is unable to ascertain if job satisfaction is positively correlated with economic productivity or whether an inverse relationship exists. The present study seeks to reaffirm findings from the bulk of research in favour of the notion that satisfied employees are more labour productive. Relationship between Motivation and Job SatisfactionThe level of performance of employees relies not only on their actual skills but also on the level of motivation each person exhibits (Burney et al. , 2007). A motivational framework, built on the premise of how employees should be managed, affects job satisfaction. Herzberg's (1959) two-factor theory of motivation attributes Ã¢â¬Ëpay and benefits' to one of the hygiene factors, in that the exclusion of this causes job dissatisfaction (Hugh Greenway & Tim Runacre, 2008). As Argyle (1989) explains, positive job atisfaction is due to motivators such as achievement, recognition, the work itself, responsibility, and advancement, while dissatisfaction is due to bad experiences caused by hygiene factors such as salary, supervision, company policy, relations with fellow workers, and conditions of work. Lawler (1973) has a theory known as discrepancy theory which states that workers measure job satisfaction based on what they receive versus what they expect to receive, and a comparison in which an actual outcome level is lower than an expected outcome level would lead to dissatisfaction (Castillo & Cano, 2004).However, in another theory of motivation known as equity theory, it states that motivation is affected by workersÃ¢â¬â¢ perception of how fairly they are being treated, with employees evaluating their inputs/outcomes by comparing them with the inputs/outcomes of others (Castillo & Cano, 2004; Luthans & Doh, 2009). If the ratio of inputs to outcomes is similar to the inputs and outcomes of others, equity exists. Inequity exists when the ratio of inputs to outcomes is unequal to the inputs and outcomes of others (Castillo & Cano, 2004; Luthans & Doh, 2009).Job satisfaction is then associated with the perception of equity, while perceptions of inequity will result in dissatisfaction with this belief having a negative effect on job performance (Castillo & Cano, 2004; Luthans & Doh, 2009). The common factors shared by the different theories of motivation are the implication of a need for effective motivation in order to make employees satisfied with their jobs. Castillo and Cano (2004) examining in an ear lier study on 148 faculty members reported that all of the job motivator factors identified by Herzberg (1959) were moderately or substantially related to overall job satisfaction.Such findings shed light on how organisations can enhance productivity by considering provision of motivators such as recognition or improving on such motivators so as to heighten job satisfaction. In order to attain optimal profits, it is necessary to ascertain the link between motivation and job satisfaction through extensive foraging for substantial evidence. Most importantly, the present study will illustrate that existence of motivators to propel employees to reach for organisational goals has a favourable impact on labour productivity via enhancement of job satisfaction.Leadership Style and Job Satisfaction In an organisation, the performance of staff is not only affected by motivation and job satisfaction but it is also affected by the leadership style adopted by the organisation. Leadership is defi ned as a process through which others are influenced to channel their efforts in the direction of attaining their goals (Luthans & Doh, 2009). Organizational leadership sets the tone in the effectiveness of organizations, as well as plays a vital role in job satisfaction.Positive interactions among organisational leaders and members give rise to mutual respect, trust, and the ability to generate a sense of hope for the future- a much needed ingredient for job satisfaction to blossom from such relationships (Ackfeldt& Coote, 2005; Farh, Podsakoff, & Organ, 1990). Moreover, there is research that shows the existence of the relationship between leadership style and job satisfaction. The National Business Research Institute (2007), examining factors of job satisfaction, surveyed more than 15,000 employees, largely white collar, from all levels of participating organizations in the United States.Leadership is identified as the prominent factor contributing to job satisfaction, a phenomen on evident in organizations. There is a relationship between managersÃ¢â¬â¢ leadership styles and employeesÃ¢â¬â¢ job satisfaction, illustrated in a sample of 814 employees of a national hospital. According to Rad and Yarmohammadian (2006), a strong correlation between leadership behaviours and job satisfaction prevails, citing that employee job satisfaction depends upon the style of leadership of managers.It was realised that a trend emerged from studying the sample group; a participative leadership style of managers dominates where this is a style of leadership in which subordinates are led through a reliance on task-oriented and people-oriented approaches. In Luthans and Doh (2009) findings, participative leaders adopt a non-authoritative tone, empowering employees, together with consulting with them, delegating responsibilities, and enabling mutual decision-making. As well, another study on the influence of leadership style on job satisfaction included 220 individuals coming from diverse industries like manufacturing, education, and overnment. Research findings showed a consistency with the earlier sample study, denoting that task and relational leadership style were positively associated with subordinate job satisfaction (Madlock, 2008). In all, it is essential to bear in mind that participative approach to leadership comprising task and relational behaviours may not be the best Ã¢â¬Å"one style fits allÃ¢â¬ style of management due to the vast differences among organizationÃ¢â¬â¢s cultures, leaving one to engage in other styles of leadership where appropriate. (Yarmohammadian, 2006).Among other things, participative leadership is more popular in technologically advanced nations and may increasingly abound as countries mature economically (Luthans & Doh, 2009). Therefore, it is vital to further justify through the current study if job satisfaction increases via participative leadership style. If such a relationship is confirmed, it is assumed that job satisfaction shares a positive association with productivity; participative leadership by managers could potentially boost employee productivity. The Current StudyThe present study examined the relationship between job satisfaction and productivity where respondents are seventy-three employees working in 2 local and 2 foreign banks based in Singapore. The intent is to affirm if employeesÃ¢â¬â¢ level of work motivation and managerial leadership style gives rise to varying levels of job satisfaction. The participants in the study were Relationship Managers recruited from the sales departments of the local banks, namely United Overseas Bank (UOB) and Post Office Savings Bank (POSB), as well as from the foreign banks Standard Chartered and Citibank N.A. The scope of work required by the employees across the different organizations was similar, with the Relationship Managers being responsible for revenue generation by selling financial products. These organizations were selected f or the present study to ascertain whether job satisfaction relates to employee economic performance in terms of labour productivity. In the banking sales sector, where productivity is measured in terms of financial value of net sales per employee, this provides a pecific measure of the construct and permit correlational analysis with job satisfaction scores, precisely the reason for the choice of the banking sales sector being the main subject of this present research. Three instruments assessing work motivation, leadership style of managers, and job satisfaction were given to the participants. Participants could respond freely to the survey questions according to their own perceptions. Every participantÃ¢â¬â¢s labour productivity figures were provided by the respective managers of the four sales departments.Lastly, the Method furnished additional details regarding the assessment instruments. Hypotheses It was anticipated that labour productivity would be positively associated wit h job satisfaction. It was also predicted that both work motivation and employeesÃ¢â¬â¢ perceived use by managers of participative leadership would be positively related to job satisfaction. Method Participants One Hundred working adults, out of which 50 were females and 50 were males, aged from 21 to 40 (M= 30. 9 years, SD= 5. 37) constitute the respondents for this study.These respondents, each having worked in these banks from 1 to 10 years (M= 5. 41, SD= 2. 58), were chosen from the sales acquisition departments within the main branches of 2 local banks and 2 foreign banks based in Singapore. Materials The tools required for the purposes of the present study come in three different assessments. Firstly, using The Leadership Style Questionnaire by Northouse (2001) measures task and relational leadership style to collate a general leadership profile representative of the participative approach to leadership.According to Anderson, Madlock & Hoffman, 2006 (cited in Madlock 2008), this instrument has reported scale reliabilities ranging from 0. 92 to 0. 95, and comprises 20 items measuring task and relational leadership styles on a 5-point Likert scale (1= strongly disagree to 5= strongly agree). The second instrument, adapted from the Work Motivation Behavior Scale of the AkinboyeÃ¢â¬â¢s 2001 Executive Behavior Battery, is a 15-item questionnaire incorporating a 4-point Likert scale (1= strongly agree to 4= strongly disagree).The third item measuring job satisfaction was rated by the 8-item Abridged Job in General scale (Russell, Spitzmtiller, Lin, Stanton, Smith & Ironson 2004, cited in Madlock 2008) that was based on a 5-point Likert scale response (1= strongly disagree to 5= strongly agree). The Abridged Job in General scale was reportedly said to have a reliability of 0. 87 (Russell et al. 2004, cited in Madlock 2008). Attached in Appendix 1, 2, and 3 respectively is a copy of the Leadership Style Questionnaire, the Work Motivation Instrument, and the Abridged Job in General scale.Apart from these data obtained from the research instruments, branch department mangers provided the labour productivity of each employee based on the financial value of the nets sales revenue per month per employee for the past 12 months. Procedure A telephone discussion with each of the four banksÃ¢â¬â¢ main branchÃ¢â¬â¢s sales acquisition departmentsÃ¢â¬â¢ managers on the possibility of conducting a study investigating the links between leadership style, employee motivation, and job satisfaction which in turn predicts productivity was done.After consenting to the terms of the research, the researcher scheduled a half hour for the employees of each of the four banks at a time convenient to them. Meanwhile, delivery of the informed consent form and instructions for the three assessments, packed in an envelope, was arranged to each participant. All participants were given an explanation regarding the nature of the research, including clearing any doubts they might have, pertaining to the research. Sealed envelopes containing the questionnaires completed and handed by the participants to the respective manager would be collected from the latter in a weekÃ¢â¬â¢s time.On the same day of collection, the month-end financial net sales figures of each employee for the duration of the past 12 months were obtained from the managers in order to compute monthly mean sales revenue figures as an index of labour productivity for each participant Results A computation of statistics for each assessment tool was done. The mean of job satisfaction was 23. 88 (N= 100, SD= 2. 46), the mean work motivation score was 38. 76 (N= 100, SD= 3. 94), while the mean score of employeesÃ¢â¬â¢ perception of leadership style was 83. 98 (N= 100, SD= 6. 10).Monthly financial net sales figures for the past 12 months of each participant were to yield mean monthly sales revenue figures after which the mean of the averaged monthly sales revenue figures of all participants was found to be 14,265. 62 (N= 100, SD= 2,653. 47). Simple regression regressed productivity on job satisfaction. Results show that job satisfaction was positively associated with productivity, accounting for 20. 04% of the variance in productivity (R= 0. 66, p; . 001). Through multiple regression analysis, it was found that motivation and perceived leadership style affected the varying levels in job satisfaction scores.Work motivation and perceived leadership style were both positively correlated with job satisfaction, accounting for 19. 5% (R= 0. 66, p; . 001) and 16. 26% (R= 0. 24, p; . 001) of the variance in job satisfaction respectively. Discussion The present study, conducted on a pool of white collar professionals, looked into the relationship between labour productivity and job satisfaction, as well as examined whether job satisfaction was associated with work motivation and employeesÃ¢â¬â¢ perceptions of managerial leadership style.Results tabulated from th e survey which was measured utilizing self, peers or supervisor assessment indicate that job satisfaction was moderately correlated with labour productivity, a finding that lends support to the body of research suggesting that greater job satisfaction is indicative of higher work performance (Argyle, 1989; Saari & Judge, 2004; Shahu & Gole, 2008).However, even when the economic aspect of performance, or more specifically, of labour productivity was examined, average job satisfaction still indicates to be correlated significantly with performance, as consistent with Patterson M, 2004 study of 42 manufacturing companies indicating that company mean overall job satisfaction was significantly associated with and predictive of economic performance.However, even with the result that accounts for such relationship between work productivity and job satisfaction, it is difficult to infer that job satisfaction is the direct cause to that outcome. As it is widely known that correlation does no t equate to causation, it cannot be concluded with certainty that satisfied employees evidence greater productivity as a consequence of their being satisfied with their jobs, as the reverse could be true that productivity actually accounts for job satisfaction or a third variable could influence the outcome of the relationship between both.As for the third variable there is some evidence to suggest that redesigning jobs to enhance job features such as task identity, task significance, skill variety, autonomy, and feedback may increase job satisfaction (Argyle, 1989), as it has been proposed that such features provide job satisfaction (Hackman & Oldham, 1980, cited in Argyle, 1989). What can be extrapolated from the findings of the current study is that job satisfaction makes up a proportion of the variance in employee productivity.This implies that a focus on improving employeesÃ¢â¬â¢ level of satisfaction with their jobs may elevate labour productivity figures. Motivation and Job Satisfaction The findings obtained from the present study suggest that work motivation is positively associated with job satisfaction. Most research has indicated moderate to substantial correlations between HerzbergÃ¢â¬â¢s (1959) job motivator factors and overall job satisfaction (Castillo & Cano, 2004) which is no surprise that there is a positive correlation between both.If motivators such as recognition, achievement, nature of the work, advancement and responsibility determine job satisfaction as purported by Herzberg (1959), then motivating employees via a focus on improving such aspects of a job may serve to make individuals more satisfied with their jobs. Castillo and Cano (2004) found that amongst the job motivator factors that were associated with job satisfaction amongst college faculty members, recognition best explained the variance among faculty membersÃ¢â¬â¢ overall level of job satisfaction.Interestingly, HerzbergÃ¢â¬â¢s (1959) assumption that hygiene factors r elate to or determine dissatisfaction was supported, as it was found that the factor of working conditions was the least motivating aspect of faculty membersÃ¢â¬â¢ jobs, implying that employees were least satisfied with the context in which their job was performed (Castillo & Cano, 2004).Management may thus need to seek out creative methods to motivate workers by providing opportunities for advancement, achievement, and through the cultivation of a sense of responsibility and autonomy as individuals are motivated to excel because of intrinsic needs such as achievement, recognition, self-development, and meaning derived from performing work. More importantly, what Castillo and CanoÃ¢â¬â¢s (2004) findings suggest is that work should provide recognition through acts of notice or praise by colleagues, superiors, and management to increase job satisfaction.In the studies that have reported relationships between job satisfaction and work performance, it has been noted by Argyle (1989) that the correlations are greater for employees in supervisory or professional jobs. Also, job satisfaction predicts performance, with the relationship being even stronger for professional jobs could be due to the possibility that in such jobs, job performance is less contingent on external pressures such as task speed or wage incentives and more on motivation (Argyle, 1989).To the degree therefore that work performance or productivity depends upon employeesÃ¢â¬â¢ level of job satisfaction, motivation at work holds an indispensable role particularly with respect to white-collar professional jobs in terms of its potential influence on job satisfaction. To conclude if motivation directly determines job performance are well beyond the scope of the current study.Further research is thus warranted in this area that will permit inferences about whether work motivation causes job satisfaction or work performance, or whether job satisfaction instead influences motivation. Leadership Styl e and Job Satisfaction In the present study, leadership style was indicated to be positively related to employee job satisfaction. This finding is of value because it supports the research findings that indicate that leadership behaviour of managers has an important influence on subordinate job satisfaction (Madlock, 2008).It appears from the current findings that as the perceived use by employees of a participative style of leadership in which task-centered and people-centered approaches are combined to lead subordinates, employees are more satisfied with their jobs. Such a finding is of direct relevance to organizations because the present research has also indicated a link between employee job satisfaction and work productivity in such a manner that increased levels of job satisfaction are associated with increased labour productivity.Thus, the extension of the current research by investigating the link between employeesÃ¢â¬â¢ perceived leadership style of managers and job sati sfaction provides organizations with a further area of focus to potentially maximize job satisfaction and thus to enhance performance of employees. Conclusion The organizational goal of helping employees find satisfaction in their work should be one of paramount importance, as it may be to the mutual benefit of the employer and employee. The present study suggests that employees tend to perform more productively when they are satisfied with their jobs.In order to capitalize on employee job satisfaction to potentially increase performance of employees, ways of maximizing job satisfaction may encompass managing workers by selecting a participative style of leadership, as well as by motivating employees by ensuring that relevant intrinsic needs such as recognition are fulfilled though appropriate restructuring of the job. Such endeavours may then be advantageous for organizations in terms of productivity gains in the likelihood that job satisfaction is improved upon. Appendix 1 LEADERS HIP STYLE AND WORKPLACE QUESTIONNAIREDirections: Think about how often your immediate supervisor engages in the described behaviour. For each item, select the number that best represents the behaviour that your immediate supervisor is most likely to exhibit. 1 Strongly disagree2Disagree 3Neutral 4Agree 5Strongly agree My immediate supervisorÃ¢â¬ ¦ 1. Tells group members what they are supposed to do. 1 2 3 4 5 2. Acts friendly with members of the group. 1 2 3 4 5 3. Sets standards of performance for group members. 1 2 3 4 5 4. Helps others feel comfortable in the group. 1 2 3 4 5 5.Makes suggestions on how to solve problems. 1 2 3 4 5 6. Responds favorably to suggestions made by others. 1 2 3 4 5 7. Makes his or her perspective clear to others. 1 2 3 4 5 8. Treats others fairly. 1 2 3 4 5 9. Develops a plan of action for the group. 1 2 3 4 5 10. Behaves in a predictable manner toward group members. 1 2 3 4 5 11. Defines role responsibilities for each group member. 1 2 3 4 5 12. Comm unicates actively with group members. 1 2 3 4 5 13. Clarifies his or her own role within the group. 1 2 3 4 5 14.Shows concern for the personal well-being of others. 1 2 3 4 5 15. Provides a plan for how the work is to be done. 1 2 3 4 5 16. Shows flexibility in making decisions. 1 2 3 4 5 17. Provides criteria for what is expected of the group. 1 2 3 4 5 18. Discloses thoughts and feelings to group members. 1 2 3 4 5 19. Encourages group members to do quality work. 1 2 3 4 5 20. Helps group members get along. 1 2 3 4 5 Appendix 2 HOW MOTIVATED ARE YOU IN DOING YOUR JOB The following questions ask you how motivated you are in completing your job.Please indicate your response based on the following scale. (1 Strongly Agree to 4 Strongly Disagree) 1. You always put in your best effort in the things you do. 1 2 3 4 2. You exceed what you are suppose to accomplished 1 2 3 4 3. Your environment affects your mood in performing your task 1 2 3 4 4. You have a group of helpful colleagues th at make your work pleasant 1 2 3 4 5. Your pay is low so you perform at the minimum. 1 2 3 4 6. You work just to satisfy your basic needs 1 2 3 4 7. To have career advancement is important to you. 1 2 3 4 8.If you are lowly paid but given recognition for you work, you feel good. 1 2 3 4 9. You feel you are part of the organisation. 1 2 3 4 10. Do you feel enthusiastic about your current job. 1 2 3 4 11. Do you feel enthusiastic if you are given a new job scope 1 2 3 4 12. Are you looking forward to achieve the organisation goal. 1 2 3 4 13. You feel discourage when you are asked to perform a new task 1 2 3 4 14. You feel that you are important to the organisation 1 2 3 4 15. Overall, you feel the organisation plans for your future. 1 2 3 4Appendix 3 HOW SATISFIED ARE YOU WITH YOUR JOB QUESTIONNAIRE The following questions ask you about how you feel about your job at work everyday and how satisfied are you. Please indicate your agreement or disagreement on the following statements by indicating your appropriate response based on the following scale. 1 Strongly disagree2Disagree 3Neutral 4Agree 5Strongly agree 1. At this very moment, I am very enthusiastic about my work. 1 2 3 4 5 2. Right now, I feel fairly satisfied with my present job. 1 2 3 4 5 3. At present, each moment at work seems like it will never end. 1 2 3 4 5 4.At this moment, I am finding enjoyment in my work. 1 2 3 4 5 5. Right now, I consider my job rather unpleasant. 1 2 3 4 5 6. My job gives me a sense of achievement. 1 2 3 4 5 7. The amount of support and guidance I receive from my supervisor. 1 2 3 4 5 8. The overall quality of the supervision I receive in my work. 1 2 3 4 5 References FACTORS EXPLAINING JOB SATISFACTION AMONG FACULTY Jaime X. Castillo, Extension Specialist New Mexico State University Jamie Cano, Associate Professor The Ohio State University Journal of Agricultural Education 1) Locke, E. A. (1976). The nature and causes of job atisfaction. In M. D. Dunnette (Ed. ), Handbook o f industrial and organizational psychology (pp. 1304). Chicago: Rand McNally. 2) Organ, D. W. (1988). Organizational Citizenship Behavior Ã¢â¬â The Good Soldier Syndrome. (1st ed. ). Lexington, Massachusetts/Toronto: D. C. Heath and Company. 3) Herzberg, F. , Mausner, B. and Snyderman, B. B. (1959), The Motivation to Work. New York: Wiley. 4) Fred Luthans and Jonathan P. Doh, (2009), Ã¢â¬ËInternational Management, Culture, Strategy, and Behavior 7th editionÃ¢â¬â¢, Mcgraw Hill, New York 5) http://www. nbrii. com/Employee_Surveys/Satisfaction. html 6) Dailey, R.C. and Kirk, D. J. (1992), Ã¢â¬Å"Distributive and procedural justice as antecedents of job satisfaction and intent to turnoverÃ¢â¬ , Human Relations, Vol. 45, pp. 305-17. 7) West, M. and Patterson, M. (1998), Ã¢â¬Å"Profitable personnelÃ¢â¬ , People Management, Vol. 4, pp. 28-31. 8) Grant, L. (1998), Ã¢â¬Å"Happy workers, high returnsÃ¢â¬ , Fortune, p. 81. 9) Hian Chye Koh, El'fred H Y Boo feb 2001. The link betwe en organizational ethics and job satisfaction: A study of managers in Singapore, Vol. 29, Iss. 4; p. 309 10) Ackfeldt, A. , & Coote, L. V. (2005). A study of organizational citizenship behaviors in a retail setting.Journal of Business Research, 58(2), 151-159 11) Farh, J. , Podsakoff, P. M. & Organ, D. W. (1990). Accounting for organizational citizenship behavior: Leader fairness and task scope versus satisfaction. Journal of Management, 16(4), 705-721. http://proquest. umi. com. eproxy. ucd. ie/pqdweb? index=5&did=1674096061&SrchMode=1&sid=3&Fmt=6&VInst=PROD&VType=PQD&RQT=309&VName=PQD&TS=1277568831&clientId=13279 12) Ali Mohammad Mosadegh Rad, Mohammad Hossein Yarmohammadian, (2006) Ã¢â¬Å"A study of relationship between managers' leadership style and employees' job satisfactionÃ¢â¬ , Leadership in Health Services, Vol. 9 Iss: 2, pp. 11 Ã¢â¬â 28 13) Paul E Madlock. The Journal of Business Communication. Urbana: Jan 2008. Vol. 45, Iss. 1; p. 61 Fishing for the right people Hug h Greenway, Tim Runacre. Training Journal. Ely: Mar 2008. pg. 41, 4 pgs Burney, L. and S. K. Widener. 2007. Strategic performance measurement systems, job- relevant information, and managerial behavioral responses Ã¢â¬â Role stress and performance. Behavioral Research In Accounting (19): 43-69. Shadare Oluseyi . A, Hammed, T. Ayo 2009 Ã¢â¬Å"Influence of Work Motivation,
Saturday, September 14, 2019
COMMERCIAL CONTRACTS UNDER NIGERIAN LEGISLATION Introduction A contract is an agreement which is legally binding on the parties to it and which if broken may be enforced by action in court against the party that has broken it. A contract may be void or voidable. A void contract is that which lacks the essential ingredients or elements of valid contract and therefore of no legal effect. A voidable contract is that which is valid in the first place but may be ended at the instance of one of the parties to it.Such contracts include guarantee with a bank of money lender, hire purchase and sale or leasing of land. The legal consequences of non-compliance are that they are not enforceable at law though they are not necessarily void. However, some categories of contracts must of necessity be in writing or else they shall be void absolutely. These include transfer of shares, marine insurance and hire purchase agreements. As a general rule also, all contracts are in the nature of agreement: h owever, not all agreements may constitute a contract properly so called.For instance, an agreement for the sale of a parcel of land is intended to be binding and enforceable at law, whereas, an invitation to a luncheon which after all, did not hold may not be enforceable at the suit of the disappointed party. A contract may also be under-seal or by deed and may be simple or oral. It may be express when it is written or implied when it is inferred from the conduct and acts of the parties. In addition, there can be bilateral contract between two parties or multi-lateral contract among parties depending on the nature of obligations to be performed under the agreement.Condition and warranty are the two basic types of express terms in a contract. Whether a term is a condition or warranty depends on the intention of the parties. A condition is a vital term which goes to the root of the contract. Breach of a condition entitles the innocent party to repudiate the contract and to claim damag es. A warranty is a term which is subsidiary to the main purpose of the contract, breach of which only entitles the innocent party to damages. FORMATION OF A VALID CONTRACT The main requirements of a valid contract are as follows: 1. there must be an offer; . there must be an acceptance; 3. there must be consideration; 4. parties must have full contractual capacity; 5. there must be an intention to create legal relations; 6. object of the contract must not be unlawful nor illegal; 7. prescribed formalities must be followed, for example, it should be in writing or by deed. Forms of Contract Contract supported by consideration are essentially expected to be in writing,. It is however important to note that a contract may also be oral or implied and yet be binding on the parties depending on the peculiar circumstances.The fact remains that a contract may not be taken as being invalid or unenforceable for the mere fact that it is not in a written form. Te court would normally not assist any person who was lured into an oral agreement. Writing merely facilitates the interpretation or proving of the terms of the contract barring which it may not be all that necessary. In considering commercial contracts under Nigerian legislation however, we would evaluate three of such contracts which are: ? hire purchase; ?sale of goods; ?agency. AGENCY CONTRACT IntroductionAgency is a relationship that exists between two persons, one of whom expressly or impliedly agrees that the other should represent him or act on his behalf. The one that is represented is called the principal while the person representing or acting on somebodyÃ¢â¬â¢s behalf is called Agent. Agency relationship involves the consent of the agent and the principal that one should act for the other. It thus arises from a contract or agreements express or implied. Ofodile v. Chinwuba Generally, the relationship of principal and agent may arise in three main ways: 1.By agreement , whether contractual or not expres s or implied in nature 2. By subsequent ratification by the principal of the agentÃ¢â¬â¢s act done on his behalf, and 3. By operation of law under the doctrine of necessity Whether or not an agency relationship exists would largely depend on the true nature of the agreement and the circumstances of the relationship between the principal and the agent. In another vein, the law of agency consists of the law of the employer and the employed, where the employment consists of bringing the employer into contractual relationship with the third party.This relationship is simply referred to as Ã¢â¬Å"The Master and ServantÃ¢â¬ relationship under the labour law and for which there is a vicarious liability. An agent should be distinguished for an independent contractor. An independent contractor is the person who negotiates with the third party on his own behalf. An independent contactor is a person liable to give contract for service while and agent or servant renders contract of service . An independent contractor is personally liable at law for his actions. An agent is not a trustee of the goods in his care not being the legal owner.The extent or scope of the AgentÃ¢â¬â¢s discretion is determined by his principalÃ¢â¬â¢s instructions. Legal title always remains in the principal. An agent can therefore not give good title all by himself. CLASSIFICATION OF AGENCY a. Special Agent: This is someone who has authority to do some particular act on behalf of his principal though not a continuous basis; for instance, a special order to purchase a house or a vehicle. b. General Agent: this is someone who has power to act for his principal in all matters involving business or trade, for example a solicitor or legal practitioner. . A Factor Agent: He is an agent who sells or disposes of goods that are entrusted to him. His activities are governed by the Factors Act 1889 (UK d. Broker Agent: He negotiates ad makes contract for the sale and purchase of goods. However unlike a factor he is not left in possession of the goods. Typical example is insurance Brokers and Stock Brokers. e. Universal Agent: This is someone who represents various principals in many aspects of trade. He is appointed by a Deed under Power of Attorney and has wide powers. f.Mercantile Agent: He represents someone in commercial and certain aspects of trade. Their duties are more or less similar to those of the factor agent g. Auctioneer: He represents a principal in the disposal of real properties. They are usually licensed to sell properties of Mortgagors who have defaulted in payment. Auctioneer acts between the Vendor and the purchaser. He receives commission and invariably sells to the highest bidder. h. Estate Agent: These deal in the acquisition of, valuation of an disposal of properties i.Del-Credere Agent: This is a mercantile agent who, in consideration of extra pay, that is del-credere commission guarantees to his principal that the 3rd party with whom he enters into cont ract on behalf of the principal shall duly pay the sum becoming due under the contract. In effect a del credere agent is a surety of the person with whom he deals. This is just a form of guarantee which may not necessarily be in writing in order to be enforceable at law. CREATION OF AGENCY It may be created in two broad ways namely: (a)Expressly and (b) impliedly a. Express Creation: . By deed Ã¢â¬â this involves issuing an authority in writing with the necessary instruction and attestation clauses. That is signed, sealed and delivered. This process is known as the granting a Power of Attorney. 2. Oral instruction Ã¢â¬â This is agency by appointment, it deals with express authorisation of the principal to the agent to act for him b. Implied Creation 1. Agency of necessity Ã¢â¬â This is created by act of person who normally had no authority but was compelled to reasonable act to protect the interest of the 3rd party especially during an emergency situation. 2.Agency by Estop pel: Ã¢â¬â This is a type of agency that can be inferred form the conduct of the parties. If the situation that exists suggests that parties want to create an agency relationship, either of the parties is stopped form denying the existence of such a relationship. 3. Apparent Agency Ã¢â¬â This occurs where a principal has not taken due precaution to prevent a situation where somebody portrays himself as having power to act as his agent. 4. Agency by ratification Ã¢â¬â This occurs where the principal having full knowledge of the fact, accepts the benefits of the contract entered into by his apparent agent.Any act whether lawful or unlawful may be ratified provided it is not void. If it is voidable it is still capable of being ratified as long as it is valid. In Brook v. Nook where an agent forged his principalÃ¢â¬â¢s signature on a promissory note; it was held that the attempt at ratification was void. The principal must have capacity as at the date of the contract. In Keln er v. Baxter where a promoter tried to ratify some pre-incorporation contracts it was held that he could not succeed as the contracts predated the company.