James Spencer Essay

Presentation The conditions for the poor were awful when Charles dickens composed the novel a Christmas tune to communicate his anxiety about the conditions for these individuals. From the start Charles was going to show his anxiety by composing a genuine handout clarifying the conditions individuals were living in however after much idea he chose a book would be better since he was a well known writer. Charles accepted this would help by alarming individuals of the lives the individuals were living so they would give to good cause at Christmas a period of giving. Passage 1 In fight one of the book we are acquainted with Scrooge and Jacob Marley. In the main fight miser is depicted as and underhanded man and furthermore you can tell this from the things he says â€Å"Every moron who goes around with â€Å"Merry Christmas† all the rage ought to be overflowed with his own pudding and covered with a stake of sacred through his heart. † He answered to his nephew after he welcomed him to Christmas supper this shows he dislike Christmas and furthermore he is impolite and isn't anxious about imparting his perspective to other people. Penny pincher is impolite to all the individuals who attempt to be pleasant to him in this first section from the men who requested a gift for a noble cause to his representative who requested Christmas three day weekend to whom he just barely excepted state he should be in the prior the following day. At the point when tightwad returns home he sees the phantom of his ex-accomplice Jacob Marley who discloses to him he should retouch his ways or he may wind up with a comparable destiny. Section 2 In fight two Scrooge is visited by the first of the three phantoms of Christmas the apparition of Christmas past. This section gives us a great deal of significant data on miser, for example, his time at school his work for Mr. Feziwig and his relationship that finished when he got fixated on cash â€Å"I have seen you nobler desires tumble off individually until the ace energy, gain, immerses you†. Scrooge’s fianci e disclosed to him when she didn’t need to see him any longer since he had changed at the asking of this part he is appear as a dedicated kid in school that didn’t truly have any companions however had a mesh love for his sister. The part additionally enlightens us regarding the time he worked for Mr. Feziwig and how he used to make some great memories and how he was awful manager since he didn’t treat his staff to a decent time. Passage 3 In fight three Scrooge meets the second of the phantoms the apparition of Christmas present who gives him what over people groups Christmas resemble this shows the horrifying conditions the Cratchits lived in and how his nephew slights him and what he says about him â€Å"his offenses convey their own discipline, and I have nothing to state against his†. Fred said after he called a toast to his uncle later on at the supper they all affront tightwad. In this part we learn of the incredible destitution of the Cratchits were they need to share glasses and of minuscule Tim’s disease and how he will kick the bucket if tightwad doesn’t help him. Passage 4 In fight for miser meets the remainder of the apparitions the phantom of Christmas future. In this section of the book tightwad discovers he has kicked the bucket and he understands that nobody loved him and that his cash was no utilization to him when he was dead â€Å"he terrified everybody away from him when he was alive to benefit us when he was dead! Ha, ha! † The pawn agent say’s as we understands all of scrooges assets have been sold when they can never again be any utilization to him as he is dead. In this part he understands that being a terrible individual isn’t any great to him and that’s its better to be recognized as a decent individual than an awful one on the grounds that that’s all you have when you kick the bucket. Penny pincher has now changed and needs to be a superior individual and we see what he portion in the last section Paragraph 5. In the last section in the book penny pincher is by all accounts more joyful individual he portion this by attempting to be pleasant to others and by carrying out beneficial things he additionally apologizes to bounce and says â€Å"a merrier Christmas, weave, my great individual, than I have given for some a year! I’ll raise your pay; try to help your battling family. † Scrooge said to bounce on Christmas day he likewise gives the Cratchit’s a turkey secretly and goes to supper with his nephew and family this shows penny pincher has changed a ton and furthermore need to be a superior individual. End I accept that before the finish of the story tightwad is a superior individual and the main explanation he turned into a terrible individual was his very own result obliviousness to what was happening around him. Charles Dickens is attempt to tell his rich crowd of perusers that cash isn’t everything and you can make some great memories without it yet on the off chance that you do have it you ought to be liberal and attempt to help over individuals make some great memories and by doing that you will make some great memories your self.

Economics Essays Financial System Banking

Financial aspects Essays Financial System Banking Capital Adequacy Directive Unique In the ongoing years, it appears that the bosses have expanded the consideration on the capital ampleness of banking instincts so as to improve and keep up the solidness of money related framework. The reason for the current paper is to research into the benefits just as drawbacks of the Capital Adequacy Directive execution in the Switzerland economy for the practices of Swiss banks and shed some light on whether and how Swiss bank respond to requirements put by the controller on their capital. The examination and confirmations given will explain the finding is that while the Swiss banks appreciate the run of the mill justifies that have been brought by this advancement, a few disadvantages they may suffer couldn't be disregarded, which infers the requirement for good strategy rules of Government and Central Bank. Section 1 Introduction We improve minutes to present significant increments in capital prerequisites. Nout Wellink (April, 2008), leader of the Basel Committee on Banking Supervision During the most recent 30 years, a wide scope of nations have presented the formalized capital necessity. This advancement appeared to be led by the selection of least capital necessity in some specific states (for example, the US and the UK in 1981). Be that as it may, with the principal presentation of Basel Accord in 1998, the regular least capital necessities were really received by G-10. Until this point, the Accord has been actualized by more than 100 nations around the world (Allen, 2004). The usage procedure of Capital Adequacy Directive (CAD) from one perspective delivered numerous accomplishments practically speaking as it assists with restricting danger taking comparative with capital and to forestall fundamental hazards emerging from enormous scope banking disappointments, in this way improving the profitability, proficiency, wellbeing and sufficiency of residential financial framework, as a rule, worldwide money related framework. Then again, it likewise has created a few significant disappointments and unintended results as it would lessen the loaning capacity of business banks which thus straightforwardly impacts to their seriousness comparative with different types of intermediation. This examination endeavors to gauge the expense and advantages of Capital Adequacy Directive and apply it to the number of inhabitants in business banks that worked in Switzerland. The outcome recommends that despite the fact that some negative effects of CAD is clearly observed, the execution of CAD in Swiss financial framework is basically and really required. As the self evident reality, the points of interest that Swiss business banks have accomplished because of the viability of capital sufficiency guideline exceed the burdens they may endure. The paper is partitioned into 4 segments. Part 2 presents the recorded audit and general hypothesis of Capital Adequacy Directive. Part 3 gives right off the bat the examination on the two advantages and expenses of CAD, trailed by the measurement confirmations from Swiss business banks’ practices. At long last, the outline of the principle discoveries of this investigation and end will be referenced in the last area. Section 2 Capital Adequacy Directive: Historical Review and General Theory 2.1 Historical survey The Capital Adequacy Directive was right off the bat and formally presented as the center piece of the 1998 Accord, alluded to as Basel Accord (International Convergence of Capital Measurements and Capital Standards) gave by the Basel Committee on Banking Supervision (henceforward Basel Committee) in July 1998 (Hall, 2004). This agreement isn't formal arrangement nor a coupling lawful principle, anyway because of the commonsense impacts passed on with it, the rules of this understanding have been actualized by signatory nations toward the start as well as by more than 100 nations around the world (Lastra, 2004). In any case, the 1988 Accord has been censured for its rough appraisal of hazard and for making open doors for administrative exchange (Blum and Hellwig, 1996). Along these lines, toward the finish of June 2004, the â€Å"New Capital Accord† (from this time forward call Basel II) was at long last given after the support directed by G10 banks administrator so as to supplant the first accord (presently named â€Å"Basel I† concurred in 1988) and take care of the issues happened as the aftereffect of Basel I execution in banking framework. 2.2 General Theory of Capital Adequacy Directive The beginning of Capital Adequacy Directive just as the capital guideline could be followed back to the worry that bank may hold less capital than is socially ideal â€Å"relative to its peril as negative externalities coming about because of bank default are not reflected in showcase capital requirements† (Rime, 2001). In the 1988 Accord, the Basel Committee gave a proportion of money to hazard weighted resources. In this Basel equation, Capital is isolated into Tier 1 (value capital in addition to uncovered stores less generosity) and Tier 2 (revaluation saves, undisclosed hold, general credit misfortune saves, and subjected term obligation). In particular, Tier 1 capital must to establish at any rate half of the complete capital base. What's more, the denominator of this Basel recipe is the entirety of hazard balanced resources in addition to reeling sheet things changed in accordance with chance. (Lastra, 2004) As per (BIS, 2008) the 1998 Accord basically recommended that banks hold capital of at any rate 8 % of their hazard weighted resources. In spite of the fact that there is no solid contention for the â€Å"target† proportion 8%, it despite everything was viewed as â€Å"sufficient† because of the exact application from past strategy applied in certain states, for example, the US/UK two-sided understanding of 1986 in regards to capital ampleness (Rime, 2005). Eight percent were the middle in leaving great practice around then: the US just as the UK around 7.5 %, Switzerland 10%, France and Japan 3 % (Lastra, 2004). Truth be told, information from a wide scope of banks from the Fitch IBCA database and national chiefs just as the Basle Committee indicate expanding pattern with the normal capital proportion ascending from 9.3% in 1988 to 11.2% in 1996. â€Å"Most nations experienced increments in their capital proportions in spite of the fact that those nations, which were near, or underneath, the Basle least capital ampleness proportion of 8% in 1988 prove an a lot higher in general increment than those, which had truly high capital ratios†. (Jackson, 1999) As of late, in the new methodology, regularly alluded to as Basel II, explicitly in the First Pillar †Minimum Capital Requirements, the general degree of administrative capital as of now held by banks isn't set to rise or to be lower. The capital proportion is determined utilizing the meaning of administrative capital and hazard weighted resources and the all out capital proportion must be no lower than 8%. What's more, the level 2 capital is restricted to 100% of Tier 1 capital (BIS, 2004). In any case, it is set to be more hazard delicate (Blum and Bichsel, 2004). Part 3 Expenses and Benefits of Capital Adequacy Requirements: The Analysis for Switzerland 3.1 Understanding the Swiss financial framework: Until this point, the Swiss financial framework is commonly portrayed as one of the main all inclusive financial framework around the globe since this sort â€Å"universal banking† was initially permitted at the Banking Law of 1930 (Stiroh and Rime, 2003). In all actuality, similar to the most mainland European nations, Swiss bank enactment doesn't recognize the business and venture banks. On a fundamental level, Swiss banks can offer a wide scope of monetary administrations, for example, loaning and store taking, endorsing, business, exchanging and portfolio the board (Swiss Bankers Association, 2006). Moreover, the Swiss banks may differ in the manner in which they utilize their choices to take part in a wide range of money related exercises as the â€Å"truly general banks exist together with the organization practicing either in customary banking or monetary market activities†. As indicated by Swiss Bankers Association (2006) the Swiss National Bank (SNB) characterizes the banks in Switzerland into ten significant classes: enormous banks, cantonal banks, provincial and reserve funds banks, Raiffeisenkassen banks, business banks, shopper advance banks, stock trade banks, different banks, outside, and private bank. These bank classifications contrast with respect to their size, business center, geographic extent of exercises and authoritative document. Inside the financial area, the large banks keep up a prevailing situation in each regard. As the self evident reality, the Swiss economy is described by a similarly enormous financial segment by universal guidelines, and by the strength of two banks, Credit Suisse and UBS. Toward the finish of 2006, the banking sector’s absolute resources surpassed CHF 4,500 billion or about multiple times the size of Swiss GDP. This is by a long shot the greatest proportion among the G10 nations, trailed by Belgium and the Netherlands where complete bank resources are multiple times the size of GDP. Estimated in outright terms, the US has the biggest financial area. Be that as it may, complete resources of all banks are short of what US GDP (Swiss National Bank, 2007) 3.2 Advantages and Disadvantages of Capital Adequacy Directive towards Swiss banks’ conduct In this paper’s setting, rather than taking evaluating focal points just as drawbacks of CAD for all the members of money related market, I might want to take the perspective to this issue from the one specific gathering of market †the banks. Benefits Practically all monetary specialists hold the assessment that however capital for the most part represents a little level of the budgetary assets of banking establishment; it plays a significant and significant job in their drawn out financing and dissolvability position, which straightforwardly impact to their open validity and notoriety. The backwards connection between the capital ampleness necessity and bank chance taking has been found in the examination of Avery and Berger in 1991. So as to meet the 8% target proportion of Basel recipe, ba

The Last Day at Gymnasium Untergriesbach

The Last Day at Gymnasium Untergriesbach Scott Stephens 14, Materials Science and Engineering, MIT-GermanyGlobal Teaching Labs Program As I write this post, I am sitting in the teachers lounge trying to hold onto the comfort that I have grasped to since my first day at Gymnasium Untergriesbach. Surrounded by excellent teachers, excellent students, and a beautiful school, I have been smiling for three weeks straight. This morning was filled with gathering contact information from my colleagues, teaching my last lesson with a group of delightful high schoolers, and interviewing with a reporter from the newspaper of Passau. But now I find myself alone with my thoughts, reminiscing like an old crow looks back on the time that has flown by. On my first day here, I was more nervous than a CEO about to tell his staff that he had sold the company for a box of oranges. Three weeks later I feel that I am being kicked from the nest without being able to fly. I sit on the brink of the end of my time here at the Gymnasium, and there are a number of things that I will miss dearly. I guess I will just have to list them as the fol lowing: 1. I will miss the barrage of wide eyed stares I receive from the students who think I am an alien. 2. I will miss the amazing coffee machine that does everything from hot chocolate to a damn good latte macchiato. 3. I will miss the stunning beauty of the sun creeping over the steeple of the church as I arrive at school. 4. I will miss the crystal flakes of snow that fall lightly to coat the streets and towns like a silken blanket. 5. I will miss the warm Guten Morgen of the teachers as they stroll into the lounge. 6. I will miss the 5 hour super lectures on the biology of DNA and chemistry of petroleum. 7. I will miss the puzzled looks of the students and, even better, the horrified looks the victims I call to the board. 8. I will miss bright smiles of Mr. Brunner and his yellow turtlenecks that match his car. 9. I will miss my distillation experiments and lighting stuff on fire. 10. I will miss stories of Ms. Schoenbrunner (she has quite a few brilliant ones about police officers in the States) 11. I will miss the exchanges with Hanz (the Foodmiester), seeing pictures of his fishing trips, and his hearty handshakes. 12. I will miss the sizzling schnitzel semmel and flavorful Bavarian lunches. 13. I will miss watching American football with a true fan, Mr. Vogel 14. I will miss teaching swimming for my wonderful group of athletes 15. I will miss the people This last one, number 15, is possibly the most important thing I will miss. Its the people that you meet that make the wealth of life. Its this group of teachers and students that make Gymnasium Untergriesbach such an amazing place. Unmatched hospitality, charity, and understanding. Infinite patience and great humor. I will never be able to forget this community that has given me so much. The list from above goes on and on. I am just not able to remember it all and I dont really want to bore you (my readers) with the great things that will never be experienced the way I experienced them. I am so thankful to be in Gymnasium Untergriesbach, and this is the only day that I havent been able to smile through every minute because it is the bitter end of a remarkable journey. Although this is not the end of my trip in Germany, it feels like the end of a wonderful chapter of my life. Gymnasium Untergriesbach, I have one last thing to say before I leaveIn the words of the Governator Arnold S chwarzenegger, ILL BE BACK. And, of course, thanks to the MISTI Germany Program for making it all possible.

The Jane Justin School Of Autism - 969 Words

Organization’s name and location: The organization I chose is the Jane Justin: School of Autism. It is located on 1300 W Lancaster Ave, Fort Worth, TX 76102. Mission or purpose statement: The Jane Justin School of Autism provides the right life skills and knowledge that children need to live a meaningful and productive life. How the school makes this mission possible is by responding to the needs of the students and families while respecting and embracing the individuality of the child while maintaining educational excellence. The Jane Justin School also hopes that the students one day may be able to return to a traditional classroom and educational setting with the skills that would make this possible. The community that the†¦show more content†¦Another program would be the applied behavior analysis department (ABA) this program provides behavior diagnostic services to the children with developmental needs. This program is also connected to the board certified behavior analysts (BCBA). The BCBA are intense therapy treatment that is based on scientifically tested behavioral principles and procedures. The ABA involves steady evaluation of treatment progress and clinical decision-making based on each child. ABA is the only treatment approach with rigorous scientific evidence to support its effectiveness as both comprehensive and focused treatment. The psychology services pay attention to attention deficit hyperactivity disorders, autism spectrum disorders, developmental delays, behavioral; disorders, learning disabilities, intellectual disabilities, and difficulties associated with genetic disorders. They start evaluating the students by reviewing their historical background and looking at their past academic history. The Child Development Clinic (CDC) is another program that is provided. It is a multidisciplinary clinic that includes a psychologist and social worker. The psychologist may administer rating scales, cognitive, language, and/or developmental screeners as well as the Autism Diagnostic Observation Schedule-2 (ADOS-2). Afterwards, the psychologist provides the family with a diagnosis (there may be more than one),

Essay on Nature in Shakespeares Sonnets - 1731 Words

Nature in Shakespeare’s Sonnets In Shakespeare’s fair youth Sonnets, the speaker uses imagery and metaphors from nature to describe man’s life cycle. While reading the Sonnets, it may seem at first that the main point of the Sonnets is that life’s purpose is to reproduce. However, after reading the fair youth Sonnets, it becomes clear that imagery from nature is used to prove that death is inevitable and should be accepted. The fair youth Sonnets are ordered in a specific way to resemble the life cycle of a man. As the Sonnets progress the overall themes of the sonnets seems to change. This cycle starts off with ‘Sonnet 1’ and ‘Sonnet 3’ and concludes with ‘Sonnet 73’ and ‘Sonnet 74’. Sonnets 1, 3, 7, 15, 60, 73, and 74 are all used†¦show more content†¦The tone and theme of the Sonnets begin to change from this point on, focusing on the fact that life passes just as quickly as a sunset fades. After a sunset fades the sky suddenly be comes darker; and the darkness progresses as time passes through the night. The sunset is used as a metaphor for the way that a life fades after the peak, or the prime of life. ‘Sonnet 15’ uses a metaphor similar to that of a sunset fading, but this metaphor compares man’s declining quality of life after the prime to that of a plant once it reaches its full potential, â€Å"When I consider everything that grows/holds in perfection but a little moment/†¦ When I perceive that man as plants increase/Cheered and checked ev’n by the self-same sky/Vaunt in their youthful sap, at height decrease† (Sonnet 15, L.1-8). The speaker shows that once life reaches its highest peak, it must begin to fall towards the end, or death. ‘Sonnet 15’ states that every living thing is perfect at one point in its lifespan. A flower is the most beautiful just at its peak before it starts to wither. 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Warehousing and Logistics Free Essays

This spreadsheet package will help you implement the principles in  Achieving Effective Inventory Management. Completely updated and expanded, this third edition of the spreadsheets features the newly designed Inventory Performance Simulator, which combines the analysis performed by several of the previous spreadsheets. The spreadsheet package includes a CD-ROM, sample print-outs and detailed instructions for use. We will write a custom essay sample on Warehousing and Logistics or any similar topic only for you Order Now You’ll find the following easy-to-use spreadsheets: Spreadsheet 1: The Inventory Performance Simulator This spreadsheet allows you to perform forecasting, replenishment, and investment analysis on up to100 items at a time by loading your data into a single worksheet. Areas of analysis include: †¢ Differentiating types of usage. †¢ For items with recurring usage, identify the best forecast formula from among nine methods preloaded into the spreadsheet; calculate the forecast and suggested replenishment parameters. †¢ For items with sporadic usage, calculate normal quantity sold/used in one transaction as well as minimum and maximum quantities. Compare your current inventory value, turnover and return on investment to potential â€Å"ideal† values. You can then see how varying safety stock and other parameters will affect your service level and inventory investment. †¢ Employ user maintained controls to smooth out unusually high or low usage. †¢ Graphically review the history and suggested replenishment parameters of a specific item comparing the results of all 11 forecasting methods. †¢ Compare the current and potential values of these key metrics: †¢ Inventory turnover †¢ Turn/earn index †¢ Gross margin return on investment Adjusted gross margin (i. e. , gross margin considering your average inventory investment) †¢ Percentage of excess inventory †¢ Planned excess (what vendors force you to buy in excess of what you need). Spreadsheet 2: Price Break (Item) If a vendor offers you a lower price per piece for a larger purchase quantity, is it a good deal? This spreadsheet will help you make an intelligent decision. It compares the lower cost per piece to the cost of carrying inventory for a longer period of time. It also takes into account the lower reordering cost per unit resulting from the purchase of larger quantities. The price break that provides the lowest Total Cost/Piece represents the â€Å"best buy† quantity. Spreadsheet 3: Price Break (Vendor Line) This spreadsheet compares the discount you will receive to the cost of carrying each purchase quantity for the length of time necessary to sell the entire amount (based on your current overall forecast for the vendor line). The result is a calculation of how much each dollar’s worth of inventory will cost when you consider both the discount and carrying cost. The lower the cost of a dollar’s worth of material, the better the deal. Spreadsheet 4: Price Break (Terms/Freight) With this spreadsheet, you will be able to consider freight, terms discounts and extended terms to decide which of three entered purchase quantities represents your â€Å"best buy† quantity. Spreadsheet 5: Value of Lost Inventory This spreadsheet determines the amount of additional sales your company must generate to make up for the value of material that is lost, stolen or otherwise unusable. Each of the spreadsheets is provided on a single CD-ROM, along with hard copies of the spreadsheets, and detailed instructions, all packaged in a sturdy binder. How to cite Warehousing and Logistics, Essay examples

The Marketing Concept

Abstract The marketing concept remains a fundamental parameter of marketing that makes organizations meet the needs and wants of their customers thereby surviving and flourishing in the dynamic market. Organizations should treat customers as Kings that is giving them the first priority in all their activities. In laying marketing strategies, organizations ought to consider the tastes and preferences of their customers.Advertising We will write a custom essay sample on The Marketing Concept specifically for you for only $16.05 $11/page Learn More This will enable them to produce services and goods that fit into the customers’ bracket of needs and wants. If this process continues, customers’ satisfaction will be assured leading to attraction and maintenance of customers. Since most firms target profit maximization as their main objective, they will also meet the set objectives in the end thus gaining competitive advantage over their competito rs in the marketing environment. This essay will analyse the relationships that exist between satisfaction of customers’ needs and the organizational needs. It will analyse the marketing concept form a historical perspective and analyse the elements that an organization can do to satisfy its customers. In marketing, customers are the most vital aspect since the main objective is to satisfy their needs. The entire organization should understand and uphold the marketing concept as it is not a single domain of the marketing department (Bell, 2010, p. 27). Success in businesses requires an inclusive approach from all the departments. Every manager and employee should put the customer’s needs and satisfaction in the frontline. The marketing concept and philosophy is involved in product, selling and marketing. Product philosophy enables the organization to know what it can produce and what it cannot produce. It can put emphasis on high quality products with low cost of produ ction. This philosophy does not lead to poor sales; instead, it creates more market for products made than before. During the industrial revolution, the production was extremely low as goods were made using hands, but the goods were still marketed. Customer’s satisfaction was extremely low because of low and slow production that led to low market. Currently, there is mass production, but it has not covered all customers’ satisfaction.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More However, it has created economies of scale thereby leading to low cost of production and low price of goods (Hooley et al., 1995, p. 10). This implies that the production philosophy can work in a newly established industry. According to Henry Ford, different colour of products can increase the cost of production, which leads to more market. He argued that to get more customers, one should lower pric es for goods (Cochran, 2003, p. 15). During the Industrial revolution, there was an increase in the volume of products; this prompted the need for a marketing department that will focus on selling of the goods. Increase in supply and production brought to an end the surplus production leading to advertising and personal selling to reduce inventories and increase sales. Additionally, it enables the organization to focus on the production work, and sell whatever property they produce. Nevertheless, distributing goods according to the consumer’s preference is easier. Further, a good sales department cannot meet the needs of all customers since the customers have many choices. It struggles to make the organization understand the customers before designing and making products. When needs and wants of customers are included in the production work, the organization will increase sales since they will meet the customer’s preference thereby maximizing its profit. The management in organizations should be skilful in order to understand their customers, as this is the key to quality service provision (Cochran, 2003, p. 17). In environmental scanning and forecasting, firms should be able to foresee the needs of their customers. This approach will help organizations meet and exceed the expectations of their customers. In addition, organizations that understand the needs of their customers will be able to alter their services and goods in line with the customers’ change in tastes and preferences in future.Advertising We will write a custom essay sample on The Marketing Concept specifically for you for only $16.05 $11/page Learn More They can do this without any challenge of reorganization or loss since they keep continuous contact with their customers. Markedly, continuous contact with customers requires an attentive management that can listen to complains that customers raise and reward perennial ones; this increases their loyalty to the business. Major business organizational units aim at surviving in the market. How a firm manages its working capital determines its financial health or status. Strategic working capital policies should be available to ensure that the firm will make profit even during a financial crisis. This management helps to generate new capital to settle future debts. A good management of working capital can also make it possible for firms to engage in risky ventures, which have huge returns (McClelland, 1995, p. 97). Therefore, it encourages investment options that can fully satisfy the needs of the customers. Secondly, organizations target growth and development of their internal services in terms of institutional and professional competency, innovations in products and services and customer growth. Firms also aim at fostering strong relationships among its external networks. Lastly, another organizational need is serving and uplifting all its stakeholders; for instance, an org anization can engage in Corporate Social Responsibility (CSR) to make changes in the world. It can also encourage its employees to work towards achieving their life objectives through continuous training on life skills. Customers will also like an organization that educates them on the content of various products and how to use them. For organizations to understand their customers, they should try to be in the customers’ shoes, use various organizational data, or even ask the customers on what they think on productivity and service provision. Using the Customer Relationship Management system (CRM) can assist firms to understand the needs of their customers. This data shows how customers take orders and how quick the company delivers these orders. CRM systems contain information on consumer behaviours and preferences that can help an organization to identify various needs of its customers’ thereby increasing profitability (Mckitterick, 2000, p. 21). If an organization u tilizes this data carefully, it can improve in customer satisfaction and retention.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More A customer survey can also be helpful to an organization that is interested in meeting the needs and wants of its customers. In engaging customers in a satisfaction survey, they feel more valued than in another firm that does not inquire on their views and contributions. Notably, a firm can gain meaningful insights if it goes ahead to inculcate the views of customers when making improvements or changes in their services. Such a scenario will increase customers’ loyalty, which makes it easier for the firm to understand the needs of these customers hence tailor its products towards satisfying these needs. Evidently, such a marketing strategy will alter the performance of a firm since the customers will be able to inform the organization of the behaviours that they feel should be altered. For instance, customers can inform the organization of bad behaviours among its staff only if they are close to the management. If the management can proactively consult its customers, it will be able to correct its wrong doings that could have caused dissatisfaction to customers. Moreover, an organization can opt to be in its customer’s shoes. In this manner, the management will study the points at which the customers access the enterprise. Some of these points include deliveries, phone calls, and correspondence; the management should scrutinize if there is immediate responses to phone calls and the friendliness of its receptionists. The slowness in handling customers’ complains coupled with the arrogance of the receptionist can be the reason behind customers’ dissatisfaction. To avoid losing customers, the management should try to put the interest of its customers at the forefront by addressing their complaints promptly (Mckitterick, 2000, p. 23). Further, the firm should deliver on it promises and even surpass the customers’ targets. All the departments in an organization should focus on surpassing the expectations of the customers. Understa nding the customers remains a secret that businesses can use in identifying the needs and wants of its customers thereby enhancing satisfaction among the customers. Markedly, a firm will realize and surpass its organizational goals of continuous expansion and growth in the market with continuous loyalty of customers. In meeting the customers’ needs, businesses should design products and services that are affordable, attractive, work well and always available. They also engage in product promotion to alert consumers on the existence of their products hence encouraging them to purchase the products. In the current market, customers tend to adopt the new technological systems such as online shopping. An organization should upgrade its information management system in order to be in line with the requirements of the customers. First, organizations with updated Information Management (IM) have all their data well managed in the systems. This information management fosters growth, as it reduces the cost of operation (Bhatt, 2010). Organizations can develop websites that can promote communication. For example, pizza companies have designed a website where their customers can order their own pizzas from the stores. Since organizations handle large volumes of data, there is the need to employ the Information Technology in ensuring proper data storage. Organizations handle clients’ data, employees’ data, managerial data, suppliers, and procurements data amongst others. There is the need to align these pieces of information for easy access by the prospective owners and the organization. This is where the Information management is applicable. Research has revealed that businesses that have a well-organized and managed data improve customer satisfaction minimize cost on IT thus increase revenue and realize improvement on operational efficiency. Further, a properly managed IM eliminates decisions based on assumptions as the information can be retrieved within the shortest time possible; it enables organizations understands their customers’ behaviours and preferences. This enables organizations to serve their clients well and even retain most of them (Bhatt, 2010). IM also increases efficiency as customer care agents can access clients’ data at an instant. Business outlets are inculcating technological modifications into their systems in order to increase their efficiency and reduce the cost of operation. Organizations should use specifications or approaches that they can undertake. Remarkably, the success of Information Management depends on their alignment and integration with the Human Resource (HR) and organization’s objectives. Clearly, an organization that tends to meet the meet the needs of its customers will actually meet its strategic goals and objectives. The customer service department in an organization can assist in attracting, serving, and retaining customers by applying proper knowledge managemen t techniques. Knowledge Management (KM) can assist a firm to predict the future behaviour of its customers in terms of their tastes and preferences. Therefore, KM and environmental forecasting can help a firm to save on the cost of production; therefore, it can direct these funds in expanding its services to occupy large market area (Pride Ferrell, 2002, p. 45). Such a firm will avoid wastage on producing goods or services that will not receive positive market response. Understanding the needs of customers is the job of all departments in an organization. From the above analysis, businesses should put more resources on researches that aim at learning the needs of their customers. Customers remain the epicentre of all businesses since without them, no transaction will occur. Organizations should pay immense attention to the behaviour and complaints of their customers to ensure continuity. An organization that is updated on technology, provides a variety of products, and interacts fr eely with its customers will satisfy the needs of its customers. This act will increase profitability of the organization. The firm will use the profit to expand its services and invest in other risky, but profitable ventures. Therefore, organizations that align their strategic objectives towards customers’ satisfaction will achieve their missions. References Bell, M. L. (2010). Marketing; Concepts and Strategy. University of Minnesota: Houghton Mifflin. Bhatt, Y. (2010, March 1). Information Management: A Key for Creating Business Value. The Data Administration Newsletter – TDAN.com. Retrieved from http://tdan.com/information-management-a-key-for-creating-business-value/12829 Cochran, C. (2003). Customer satisfaction: tools, techniques, and formulas for success. Chico, Calif.: Paton Press. Hooley, G. J., Lynch, J. E., Shepherd, J. (1995). The Marketing Concept: Putting the Theory into Practice. European Journal of Marketing, 24(9), 7-24. Web. McClelland, S. B. (1995) . Organizational Needs Assessments: Design, Facilitating and Analysis. Atlanta: Greenwood Publishing Group. Mckitterick, J. (2000). What is the Marketing Management Concept?. Chicago: Houghton Mifflin. Pride, W., Ferrell, O. C. (2002). Marketing: Concept and Strategies. Abingdon: Deep Deep Publications. This essay on The Marketing Concept was written and submitted by user Fernanda R. 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.