Countrywide Financial Corporation And The Subprime...

Countrywide Financial Corporation and the Subprime Mortgage Debacle In order to discuss the financial crisis of 2008, a person must understand the history of the mortgage industry. This case study shed light on one of the leading companies in the mortgage industry, Countrywide Financial, helping people recognize the events that led up to the crisis of 2008 by providing a breakdown of the company and showing the range of their operations (Eastburn, 2010, p. 247-262). To help people understand the crisis of the mortgage company, strategies and plans will be discussed as well as a SWOT analysis on the industry that includes financial ratios, and recommendations for the organization. By the end of this paper, there should be a better understanding of the issues that led to the financial crisis as well as some ideas that may help them get back on track. Strategies Before 1929 loans were limited to a small percentage of people, and loan terms lasted from 3 to 10 years. Lenders provided roughly 60% of the money needed to buy a home, and the buyer had to come up with the rest for a down payment. With these loans, interest payments were paid monthly while the principal amount was due in full at the end of the loan term. These amounts could be rather large and led to people having problems paying them. Between the Great Depression and terms of the loans offered, lack of payment became the normal (Eastburn, 2010). Strategies were developed to aid in the financial crisis. TheShow MoreRelatedFinancial Analysis And Assessment Of Countrywide Financial Corporation870 Words   |  4 PagesThis paper intends to provide a financial analysis and assessment of Countrywide Financial Corporation. The financial evaluations are based on the numbers calculated from the data on Countrywide Financial Corporation’s Financial Performance Worksheets. This paper covers three areas. The first part of the paper contains a brief history of Countrywide and the position of the corporation in the market of real estate mortgage. The second part is a SWOT analysis of Countrywide s performance and the reasonsRead MoreEssay on Countrywide Financial Home Loans Failure1300 Words   |  6 Pages Countrywide Financial was cofounded by Angelo Mazilo and by the early 2000s it became the largest provider of home loans in U.S. It was also considered the main provider of home loans to minorities in U.S. because of its lower barriers regarding homeownership for low-income individuals. The company was well known for their services offered to their clients such as: loan closing, capital market, insurance and banking services. In 2000s the main factor that contributed to the company’s reputationRead MoreCountrywide Financial : A Large Diversified Financial Service Provider1018 Words   |  5 Pages Countrywide Financial was a large diversified financial service provider. They operate in five business segments, those being mortgage banking, banking, capital markets, insurance, and global operations. Countrywide was the largest market share among U.S. mortgage originators before unethical actions caused the downfall of the firm. Problems in Countrywide’s loan practices were evident. After the financial crisis of 2008 Countrywide was found to be a significant contributor to the subprime mortgageRead MoreCountrywide Home Loans ( Countrywide Hl )1466 Words   |  6 PagesCountrywide Home Loans (Countrywide HL) provide, service, and sell mortgage loans and after-loan services such as collections and payment processing. As a leader in the mortgage industry, they provide these products and serv ices to homeowners through prime and subprime mortgage loans and subsequently resell these loans to investors. In 2009, the United States (US) Treasury Department (Treasury) invested (i.e., US taxpayer-based funding) in Countrywide HL under the Treasury’s 2009 Troubled Asset ReliefRead MoreCountrywide Financial Case7873 Words   |  32 PagesCases in Crafting and Executing Strategy 15. Countrywide Financial Corporation and the Subprime Mortgage Debacle  © The McGraw−Hill Companies, 2011 Case 15 Countrywide Financial Corporation and the Subprime Mortgage Debacle Ronald W. Eastburn Case Western Reserve University Angelo Mozilo, founder and Chairman of Countrywide Financial Corporation, was the driving force behind the company’s efforts to become the largest real estate mortgage originator in the United States and, accordingRead MoreFinancial Crisis 20081224 Words   |  5 PagesJust after ten years of Asian financial crisis, another major financial crisis now concern for all developed and some developing countries is â€Å"Global Financial Crisis 2008.† It is beginning with the bankruptcy of Lehman Brothers on Sunday, September 14, 2008 and spread like a flood. At first U.S banking sector fall in a great liquidity crisis and simultaneously around the world stock markets have fallen, large financial institutions have collapsed or been bought out, and governments in even the wealthiestRead MoreFinancial Crisis 2008 Essay1160 Words   |  5 PagesJust after ten years of Asian financial crisis, another major financial crisis now concern for all developed and some developing countr ies is â€Å"Global Financial Crisis 2008.† It is beginning with the bankruptcy of Lehman Brothers on Sunday, September 14, 2008 and spread like a flood. At first U.S banking sector fall in a great liquidity crisis and simultaneously around the world stock markets have fallen, large financial institutions have collapsed or been bought out, and governments in even the wealthiestRead MoreCountrywide Subprime Lending Crisis4911 Words   |  20 PagesExecutive Summary Even though Countrywide stopped offering subprime loans 4 months ago, the company is still in the forefront of the subprime mortgage lending and foreclosure crisis. Lawsuits seem to be coming from all directions, federal and state investigative probes are launched against them, stock price tumbled to 1/5 of its value, even desperate lenders demonstrated outside their offices. 2007 has definitely not been Countrywide s year. The company has lost its place as America s Home LenderRead MoreEthics in the Mortgage Lending Business1566 Words   |  7 PagesEthics in the Mortgage Lending Business In America each person believes it is his or her right to own a home. Banks believe they should give each person the money to finance a home. Countrywide was at the forefront for many years in providing loans to consumers. Their ethics were placed into question when homeowners started losing homes after 2006. Bank of America intervened to assist on home loans affected. Their strong code of ethics, team values, and guiding principles ensured clients thatRead MoreImplementing New Loan Programs For An Earthquake1462 Words   |  6 PagesThe recession that we are currently undergoing had affected and continues to affect different business entities. One example is Countrywide, a mortgage lender corporation. In the fiscal year of 2001, 2002, and 2003 Countrywide experienced record earnings. Countrywide achieved this by implementing new loan programs that enabled them to defeat competitors. However, for several important reasons, decision making managers need to understand different managerial skills in order to avoid undesirable

Employer Strategies for Responding to an Aging Workforce - Free Essay Example

Sample details Pages: 14 Words: 4122 Downloads: 5 Date added: 2017/09/21 Category Advertising Essay Type Argumentative essay Did you like this example? Table of Contents Executive Summary1 Introduction2 Part A2 Demographics2 Impact and challenges in service industry for assigned HR trend (aging workforce). 4 Challenges of an aging workforce:5 Solutions to Challenges of an Aging workforce7 Part B Fairprice Xtra @ Ang Mo Kio HUB8 Challenges Faced9 Relevant Solutions10 Feedback12 Referencing14 Appendices15 Executive Summary This report is commissioned to provide our readers with more information on aging workforce. Firstly in Part A of our report, we will be discussing about the demographic changes in Singapore. These include life expectancy; income distribution and how household sizes have evolved throughout the years for instance. This will in turn give us more insights as to why Singapore is currently facing with the challenge of an aging workforce. Next, impact and challenges of aging workforce in the service industry will be further elaborated. Some of the impact of an aging workforce will be lower labour productivity rate and greater healthcare services for the elderly. One challenge face by HR companies will be how they can retain the knowledge and skills of these older workers. Solutions for HR companies on how to overcome such challenges are also suggested. One such solution is to implement a flexible retirement age program for the older workers. Moving on to Part B of this report, our group visited the Fairprice located at Ang Mo Kio and made an evident observation. Observations of the workers were made. We have identified a few problems associated with having too many aging staff further explained below. This is followed by our recommended solutions with one of the problems illustrated through a skit which can be found under Appendices. Introduction Singapore faces the problem of an ageing workforce which brings about new opportunities and challenges faced by employers and government and how they respond to an aging population. Today, Singaporeans have a longer life expectancy and wil l need to work longer, so that we lead healthy and productive lives and  have sufficient reserves for retirement. For employers, it means that there will be less young people entering the workforce each year in the future. Singapore’s workforce is aging rapidly and companies and the government faces the challenge to positively shape the mindsets of employers and employees towards employing older workers and to facilitate the re-design of jobs to make them more suited for older workers. Part A Demographics Age is one of the major demographic changes in Singapore. People are living much longer than they used to. Compared to year 2000, life expectancy has increased from 78 years to 79. 9 years in year 2006. The population has also increased from 4,027,900 to 4,483,900 in the same period. Life expectancy at birth has increased from 71 males and 76 females to 77 males and 81 females. Life expectancy at retirement age 62 is now over 20 years for both males and females. From year 2000 to 2006, the number of males per 1000 females is falling from 998 to 982. If this continues, there is bound to have more females than males. In year 2007 alone, the statistics has fallen to 979. Income distribution has improved tremendously from $3,458 to $4,867 from year 1993 to 2003 per household. There is an annual growth of 6. 9% sales in services industry. Services ranges from health services, food and beverage services, transport and storage services, retail trade, information and communication services, wholesale trade, education services and all other services. The services sector comprised 138,700 establishments and employed a total of 1,047,400 workers in 2005, or an average of 8 workers per establishment. The biggest employment size in the services industry though falls to accommodation and food and beverage services with average of 20 workers per establishment. This is followed by transport and storage with an average of 12 workers per establishment. Emp loyment rate for those aged 25 to 64 edged up to a new record of 76. 5% from 75. 5% a year ago. Supported by efforts to improve employability of older workers, the employment rate of older residents aged 55 to 64 rose by 2. 5% over the year to 56. 2% in June 2007. Most of the new jobs taken up by residents were in occupations paying more than the median income. Nine out of ten jobs gained by residents from 1997 to 2007 went to Professionals, Managers, Executives and Technicians (PMET), mostly in the services sector. Over the past three years, the gains were more spread out across the occupational groups, with more residents employed in sales services jobs than before. Nevertheless, the majority of 71% of the jobs created for residents from 2004 to 2007 still went to PMETs. Consequently, PMETs now form 49% of the resident workforce, up from 40% a decade ago, while the share of production related workers correspondingly declined from 31% to 26% and clerical, sales service worker s from 29% to 25%. The workforce is also rapidly aging with slightly over half, 53%, of the economically active residents aged 40 years or older, including 25% aged at least 50 years, up from 33% and 13% respectively in 1991. While the strong labour market performance in 2007 has lifted prospects even for the older and less educated, these workers nevertheless remain more vulnerable to losing their jobs and less likely to be re-employed during a downturn. The challenge remains in enhancing their long term employability amid a volatile economic environment. Household size had become smaller due mainly to the increasing proportion of one person households. 9. 4% males and 15. 5% females aged 35 to 39 years remained single compared to less than 11% in the 1970s. Family life cycle has declined also by other factors such as lower fertility rate and delay in child bearing. Impact and challenges in service industry for assigned HR trend (aging workforce). Impact of an aging workforce: 1 ) Lower Labour Productivity Rate The impact that resulted from an aging workforce would be lower productivity and efficiency rate when it comes to the accomplishment of a certain task. Their movements and mobility will be slower than the younger staff. As compared to a teenager, an elderly will definitely take a longer time complete his job and hence, affecting the productivity of the work performance which might in turn slow down the business process. 2) High Turnover Rate As the workforce ages, more and more baby-boomers will become eligible to retire, creating a competition for the experience and skill of mature workers and turnover is expected to accelerate. With a huge turnover rate, companies will face problems in replacing those who retire thus, resulting in low unemployment rate thereafter. In addition, just because they cannot replace the elderly who retired adequately, economic growth will be slowed down, affecting the business outlook. 3) Greater Health Care needs f or older workers Due to an aging workforce, more health care centers for elderly workers have to be set up in ensuring the health of these workers as elderly will have a tendency to fall sick more easily. In addition, generally speaking, elderly are more prone to injuries such as backaches and leg pains for instance. Only with good health then will they be able to perform their job well. Furthermore, companies will have to anticipate the labour shortages frequently since there are more elderly staff working these days. 4) A competitive economy Singapore’s aging workforce has crucial implications for its economy as we are one that experience rapid structural changes. In such an economy, the depreciation rate of human capital in terms of technology specified skills is expected to be high as new jobs created may require skills that are different from those that have been lost. This will be vividly reflected in older people as they will experience difficulties in acquiring new skills. Therefore, the decrease in the rate of depreciation of the technology specified human capital of older workers could dampen overall economic growth. Challenges of an aging workforce: 1) Communication Barriers Elderly workers’ education qualifications are low as majority of them do not have the privilege to go through formal education back then. Due to the lack of education, they might not be able to understand English as effectively in their respective workplace. In addition, there is a high probability that these elderly workers are not able to converse properly in English much less, fluently. Hence, there is a tendency that their English will be misunderstood by customers and maybe amongst colleagues as well. This in turn creates a communication barrier between the older staff and the younger ones. 2) Unable to catch up with advanced technology The older staff might not be able to understand how various latest machineries work within the company due to its co mplexity which is difficult for them to comprehend and apply thereafter. In addition, often or not, the instructions of machineries are written in English which might be a problem to them as well for they might not be able to understand the instructions completely. Furthermore, older staff will take a longer time to pick up new skills as compared to the younger staff. 3) Resilience to changes The aging workforce will be accustomed to how their company functions and operates as they could have been working at their various companies for a long time. It will be difficult to make them accept and learn new skills as effectively as compared the younger workforce who will be more adaptable to changes. Thus, they will be resilience to the upcoming changes involving the advancement in technology, job rotations and maybe even the changing in business operations as well. ) Retaining knowledge or experience of the older worker The older workers are normally the ones who possess most knowled ge on their job scopes as they have been doing and repeating the same processes almost everyday other day. In addition, the experiences they have gained throughout the years of working at the company are invaluable and these experiences are an asset to the company. Thus, the company will now face with the challenge of whether or not the experiences that the aging workforce possess can in turn to applicable or even transferred to the upcoming younger workers. ) Flexible Retirement Age Minister Mentor Mr Lee Kuan Yew recently made some comments on the need to work longer. In 1999, the retirement age was raised from 60 to 62. There are 3 reasons for the implementation of the extended retirement age. Firstly, Singaporeans now live longer. The average life expectancy is about 80 years old. This has risen due to advances in medical science and also better living conditions. This also means that if one were to retire at age of 62, there is another 18 to 20 more years of living. Secondly, n ot every worker will be as fortunate. Some will have to work because they lack sufficient funds for retirement, furthermore, people will live longer these days hence, they will require a bigger sum of savings. Therefore, if savings are insufficient to these workers, companies will expect many more people to work after the age of 62. Lastly, there is a trend of shrinking family size going on nowadays. Shrinking family size means that there are now fewer young people to support the elderly. In addition, values have changed over the years, elderly are now increasingly expected to be self-sufficient after retirement. In conclusion for this challenge, companies have to anticipate such a change in which the older staff will still want to work after their retirement and come out with a flexible retirement age plan for the aging workforce. An important point apart from just blind employment, companies have to ensure that these workers stay relevant and employable by equipping with the necessary skills or even arrange them to work at places that are less strenuous. Solutions to Challenges of an Aging workforce 1) Communication Barriers In order to overcome communication barriers, it is possible that the company provides subsidized language classes for elderly workers. In addition, perhaps incentives can be given for workers who get pass each level. Further rewards like an extra day off can be given to motivate fast learners who are spotted making good use of their English learnt from classes at work. 2) Unable to catch up with advanced technology For the elderly workers to keep up with the changing trends in technology, one particular staff can be assigned to oversee the workers who are using the machineries daily. They can then explain to those who are not aware of the proper usage of the machineries, and show them step by step how to use them. A set of instructions can also be printed in a suitable language for elderly workers, to read through when they a re free. Simplified instructions can be placed somewhere noticeable near the machineries as well. 3) Resilience to changes It is comprehensible that elderly people are more rigid and less adaptable to changes. However, they can be encouraged to be more flexible if we are more patient with them. What they need is the care and respect, and they are actually willing to learn as long as they have someone to guide them along the way. One suggestion would be to pair up elderly workers, so that they can help each other when learning new skills, and at the same time feel comfortable that they are not the only ones taking a longer time to learn. The younger employees should be trained as well, to motivate the older workers, and boost staff morale, should the older workers find it hard to adapt to new company policies. 4) Retaining knowledge or experience of the older worker To ensure that knowledge and experiences are retained, the company can recreate job designs, like creating adviso r positions within departments, whereby workers who have stayed for more than 10-15years in the company can train others who are less experienced. They can be given rewards like an amount of money or products, if the employee under them is promoted within a given period. Not only will they feel appreciated, they will also feel that their loyalty to the company has not gone to waste. Focus groups can also be scheduled, to find out more about how they feel about the company, and share their experiences with others. ) Flexible Retirement Age One way could be to allow corporations and unions to find ways and means to allow workers to work beyond retirement age since there will be lesser young workers filling the vacancies of the jobs. More flexible work arrangements can be made to make it easier for workers to work after retirement. Management, unions and workers can work together to create windows of opportunity for workers to continue working in the same company after a certain age, t hough not necessarily in the same department and salary. Older workers can also work on flexi-hours arrangements, or part-time and contract arrangements. Alternatively, these older workers are also free to move out of their current jobs after retirement and take up other jobs that will suit them more. Part B Fairprice Xtra @ Ang Mo Kio HUB We visited the Fairprice located at Ang Mo Kio and made an evident observation. We noticed that their employees mainly consisted of aging staff. We have identified a few problems associated with having too many aging staff further explained below. This is followed by our recommended solutions with one of the problems illustrated through a skit which can be found in our appendices. Challenges Faced 1) Aging Workforce Plenty flock the mall almost everyday and with the Fairprice at NTUC spacious with a huge floor area of 77,000 square feet. While NTUC is trying to keep up with the high traffic of patrons shopping at NTUC, they are facing an in evitable problem; aging staff. The problem of aging staff is the level of efficiency and effectiveness that will affect customer’s satisfaction. Customers are likely to be unhappy if they are made to wait long. As aging staff are unlikely to have a high level of energy and tend to be slower by nature, the high traffic may very simply cause them to suffer from periodic stress and affect their temperament. In some cases, it will affect the level of productivity and the way they relate to customers. However, while it would be unfair to say that all aged staff are liabilities and don’t perform well, there are some aged staff who perform better and that is only through experience in which accumulated from serving NTUC for a considerable period of time. In the long run, another issue that could arise is when the aging staff reaches the retired age or the decision to retire. This may cause NTUC operational problems as they may not have sufficient staff to tend the cashi er and back room operations. With increasingly high traffic from NTUC customers, manpower remains an important fundamental in the daily running of their business. Moreover, aging staff are also more prone to illness as given their age, they to have a less strong immune system and hence more medical leave can be expected to be taken which results again in decreased fficiency. 2) Employee Retention We realize that Fairprice lacks the manpower to manage the huge store with many departments to keep an eye of given their large floor space. Furthermore, we noticed that they are very few supervisors monitoring the operations within the store and this serves as a difficult task for them should a product be running low on the shelves and requires replenishing. Back room employees have the task to run these jobs and with the size of the outlet, it can be an exhausting job for them especially so if they were to experience labour shortage, Another problem we observed is the lack of younger t alents working at NTUC. The staff mainly consists of older workers. We conclude that this is probably due to their inability to retain or rather attract younger workers. As a result of this customers could expect a growing lack of efficiency in their overall NTUC shopping experience. The managers need to promote job enrichment or job re-design to motivate the employees to avoid them from engaging a similar job. This mundane activity does not allow the employees to experience new task that will give them the opportunity to learn and acquire new skills and knowledge on other areas. While this may have an impact on younger workers who are active and needs job experience, the aged staff will need other forms of motivation and benefits so as to keep them as loyal employees. The needs of the aged workers are different and they need to have better working environment and working hours for their health concern and well-being. Relevant Solutions Older people take a longer time to adapt to their surroundings. Hence one solution NTUC could adopt is to tailor a training programme to specially cater to the needs of the aging staff. This would include training them thoroughly and over an extended period of time. This is so that they are better equipped with the necessary skills to satisfy the demands of their job scope which would lead to improved efficiency. NTUC would do best by achieving a balance in the number of older and younger staff they employ. Younger staff would offset the lack of efficiency that is associated with aging staff who on the other hand make up for it through numbers by ensuring that NTUC do not face manpower shortages with more interested applicants applying for job vacancy at Fairprice compared to their younger counterparts. NTUC should also look towards recruitment in hiring and retaining younger staff. Perhaps they could outsource their HR recruitment function as NTUC would then be able to take advantage of their expertise which would the n ensure competent and qualified workers. Additionally, these 3rd party service providers possess with them a wide and comprehensive database which ensures a wider pool of talent to choose from at the same time ensuring also that there are always sufficient workers to run their operations. NTUC could also encourage a friendlier working environment by calling for employees to help one another. For instance, if a staff is not doing his work correctly or is slow, fellow staff could teach or help out. Or if you notice a colleague struggling with a customer enquiry, a fellow staff should take the initiative to step in and not wait to be approached. This would foster good relationships among staff and also create a more customer oriented environment. Another thing that is difficult to control is the taking of medical leave that can NTUC short of human labour should any of their employees suddenly call in sick. This is a common problem among the aging staff as given their age, they c an be more susceptible to falling sick. This problem can easily be remedied by having part-time staff on stand-by and by offering them slightly above market-rate wages or special benefits to entice them to be back-up staff. Below are solutions towards increasing the welfare benefits of the staff to retain them Solution: * Hold annual NTUC workfare to attract younger generations to choose NTUC as a part-time job of choice. * Increase benefit of aged staff if they work longer. * Provide monetary incentives for staff who introduced potential employee to management. * Yearly pay increment after 5 years of working with NTUC * Introduce better staff lounge to ensure that the staff’s welfare is well taken care of by the management to satisfy and delight employees. Introduce job rotation and split shifts to allow flexible timing for aged employees who needs a more relax working hours to avoid long and mundane working hours. * Allow flexible leaves for employees. During busy period s, operational hiccups may occur if any employee wishes to take emergency leave for important matters. * On-the-job training to upgrade the employees’ knowledge on other aspects of NTUC’s operations to give them opportunity to perform in other areas and discover hidden capabilities. Feedback In part A ,we learnt mainly of how the aging workforce is really a cause for concern, considering human labour is Singapore’s most powerful and only resource. We have further learnt that the maturing workforce is often seen as an issue to be dealt with instead of a great opportunity to be leveraged. Our group also gained certain insights in making a trip down to Fairprice. For one, we noticed an express queue specifically for those with 5 items of purchase or less. While it cuts down on queuing time and better facilitates the purchasing process we noticed that this condition was not observed many. We spotted many with a handful of items proceeding to the express queue and what was appalling about that was how the cashiers didn’t look at all surprised and didn’t even bother to impose the condition of 5 items or less. Another thing we noticed was how it was difficult it was to get assistance when we wanted, there was hardly a single staff in sight save for the cashiers and even they were obviously too preoccupied serving other customers. Our group were there on two separate occasions and both times we took notice of how there was almost little or no supervision of the staff. This could perhaps be attributed to the large store area which makes the governing of staff more difficult. Perhaps NTUC could do better in taking action for instance install more cameras to ensure staff are not skiving but dutifully doing their work and right for that matter. Otherwise, they could increase the number of supervisors on shift. Overall, in doing Part B, it had benefited us by letting us know the various challenges faced by the Human Resource Depa rtment in a company in the real business world. We are able to analyse the problem in depth and come out with creative solutions for this challenges. Referencing * Shandre Thangavelu. Aging and Economic growth. 1st February 2008 https://nt2. fas. nus. edu. sg/ecs/pub/wp-scape/0613. pdf * Judith L. Diversity in the workplace. 1st February 2008 https://www. streetdirectory. com/travel_guide/1322/business_and_finance/diversity_in_the_workplace. html * Deputy Secretary-General NTUC, Heng Chee How. Speech. 31st January 2008 https://www. ntuc. com. sg/ntucunions/speeches/speeches_240507. asp Ministry of Manpower, Gan Kim Yong. Committee of supply speech. 1st February 2008 https://www. mom. gov. sg/publish/momportal/en/press_room/mom_speeches/2007/20070308-committee0. html * Enterprise one insights. 1st February 2008 https://www. business. gov. sg/NR/rdonlyres/22E806B0-C152-48A9-B91E-5A1E6E9BBFDF/16529/EnterpriseOneInsightsIssue0507. pdf * News release. Challenges in HR. Enterprise one insights. 2st February 2008 https://www. ntu. edu. sg/corpcomms2/releases/17%20Feb%2006%20NBS%20prof%20outlines%20challenges%20ahead%20in%20HR%20management%20NR. df * Ministry of Manpower, Gan Kim Yong. Approach to effective employment. 1st February 2008 https://www. wda. gov. sg/PressRoom/Speech/2007/20071114. htm * S. Ramesh. Helping older workers stay employed. 1st February 2008 https://www. channelnewsasia. com/stories/singaporelocalnews/view/276748/1/. html * Secretary General, Lim Boon Heng. Speech. 28th January 2008 https://www. ntuc. org. sg/ntucunions/speeches/speeches_171204. asp * MOM website. 1st February 2008 www. mom. gov. sg * Statistics Singapore. 28th Febuary 2008 www. singstat. gov. sg Don’t waste time! Our writers will create an original "Employer Strategies for Responding to an Aging Workforce" essay for you Create order

The New Fuss About Compare Essay Samples

The New Fuss About Compare Essay Samples The Importance of Compare Essay Samples The very first thing you ought to do is identify the sort of compare and contrast essay which you are handling. Then again, you may be made to compare things which do not have that much in common. There was no question he'd discover a way to contact farming. You want to understand how long you've got and how much you may write in the allocated time. Since you may see, the topics are broken up into multiple categories so it would be simpler that you select one. You may also choose a single topic at the moment and get started practicing. In the majority of cases, the topics you pick should be closely related. Also, you can look for sample expository essay topics so you will understand what to research and that which you will deal with. You can attract books, movies or articles which are discussing exactly the same topic you're likely to approach in your essay. You may use the suggested topics as inspiration for your own, or you could simply opt to write about one you enjoy the most. It's possible to also give your own personal views about the subject and the result in the conclusion of the poetry essays. You're able to use any as the subject of your essay particularly when you're not assigned any specific theme. You see it is an unusual topic that might be quite hard to imagine or explain, but some students might just turn that topic into a masterpiece. College students are our very first category. Its basic purpose it to discover the most important similarities. The comparison report ought to be in third individual. A comparison essay is devoted to description of similar and unique features of a few objects. Therefore, one particular comparison essay might not be completed in the exact same way as another. The Dirty Facts About Compare Essay Samples An excellent essay should have essential points. You don't wish to confuse the reader, so it's best in case you choose 1 format and utilize it throughout your essay. The same as in any essay, in the conclusion of your writing you ought to make an overview of all of the points mentioned in the essay. Before writing a comparative essay, you first have to arm yourself with the data you need. It's possible for you to choose books from fiction and non-fiction categories but make sure whatever books you opt for, they are from exactly the same category. The images of the 2 poems are so completely different they almost. To start with, in the same way as any other bit of academic writing, a comparative essay ought to have a goal. Key Pieces of Compare Essay Samples Naturally, writing is among the top learning programs in any significant school institution. When it can be less difficult to write on a well-known topic, with a little bit of research and organization, a writer can make an essay on a number of subject areas if assigned. It's common to be assigned to compose essays in every area of study, not just when taking a composition program. Contrast essays could be difficult for many learners to write since they require that students understand two topics in depth. You're able to use books, documentaries, videos, and newspapers to discover relevant information concerning the topics you're discussing. There are many sources from where you are able to gather information on your subjects but ensure that you always go with facts. Before you begin, it's vital to choose topics that you truly know well. You may choose topics that are associated with the differences between the 2 cultures, languages or eras. Getting the Best Compare Essay Samples A strong essay is going to have an opening paragraph that comes with a thesis statement and a concluding paragraph. A paper may contain over five paragraphs altogether based on the variety of subjects a student makes the decision to analyze. Moreover, an essay writer must also have the ability to supply valid references on the arguments which he would want to include in the paragraph. It's possible to restate your thesis statement and point out a number of the arguments used over the whole essay that b acks it up.

Project Management Business intelligence in Corporate

Question: Discuss about the Project Management for Business intelligence in Corporate. Answer: 1. The readings indicate references to the roles of ethical behavior and theory in stakeholder culture, project conceptualization, customer relationship management, role of technological expertise, business intelligence, corporate culture and the emergence of new modes of governance. These approaches can be distinctively considered for their influence on stakeholder management. Each of these approaches is reflective of measures to address the requirements of different stakeholders and implement transparency in the stakeholder relationships. The operations of an organization are largely dependent on the contribution of stakeholders. Stakeholders were not considered as major attributes of strategic management until the middle of the 1980s (Biccard et al., 2016). However, the evolutions in the domain of business have resulted in major developments especially pertaining to the inclusion of stakeholders in the various decision making processes of organizations. Despite the advantages presented by the different approaches, organizations are hesitant to adopt the approaches owing to contextual differences and issues with implementation. Ethical approach is preferable for engaging stakeholders in a viable dialogue with the organization and sustaining the brand image of the organization for a longer period of time (Mabrito, 2014). However organizations aiming for short term objectives could prefer to leverage ethics for deriving profits through unethical practices such as bribes. Therefore, stakeholders have varying opinions on the efficiency of the different approaches for establishing and sustaining stakeholder engagement. 2. The approach of customer relationship management provided in one of the readings has been selected for the review. Customers are termed as significant stakeholders in an organizations business framework. The capability of an organization to recover its initial investments and continue gathering revenues from a specific market is chiefly associated with the customers of the organization. Customer Relationship Management can be considered as a promising initiative to engage customers with the organization, thereby acquiring their loyalty (Samad et al., 2014). The concept of CRM emerged in the 1990s and was primarily meant for integration of business activities and technologies for identifying and catering the requirement of customers. CRM applications all over the world have enabled organizations to align and synchronize business processes as well as determine the behavioral preferences of customers and the concurrent evaluation of changing patterns in needs of customers. Business o rganizations implement CRM as a promising measure for sustaining the period of declining profits. An organization acquires almost 65% of its revenue from existing customers (Uzoamaka, Nnamani Eze, 2015). Therefore customer retention can be assumed as a prominent outcome of effective customer relationship management. This fact can be aptly verified from the growth in demand for CRM software in the period from 2004 to 2008 which was around 103.5%. 3. The effectiveness of Customer Relationship Management is a credible attribute of the strategic business management framework of many organizations in the modern marketing environment. The foremost criteria for selecting the CRM approach for stakeholder engagement is cited in the rapid growth of the industry. CRM models emphasizing on the human element rather than increasing the sophistication of technology have proved to be successful for organizations (Mabrito, 2014). The chances of failure of CRM in many organizations are due to the focused emphasis on information systems and information technology framework for interacting with customers. Therefore managerial personnel have to apprehend risks in CRM like any other enterprise related entity and thus customer relationship models have been subjected to various functional modifications (Mabrito, 2014). CRM approach to stakeholder engagement especially from the perspective of customers as stakeholder indicates the establishment of coherent interactions between customers and providers. The use of customer relationship management has worked effectively in many industrial domains such as banking, retail etc. The unique advantage offered by customer relationship management approach for interacting with customers and involving them in organizational activities can be considered as a viable rationale for utilizing CRM to initiate and maintain stakeholder relationships with customers. 4. The implementation of an approach for strategic stakeholder engagement is characterized by the influence of various stakeholders related to a particular project. The effectiveness of a stakeholder engagement strategy can be determined only from the concerns of each stakeholder. The utilization of customer relationship management is also subject to evaluation in order to determine the risks associated with CRM from the various stakeholders (Uzoamaka, Nnamani Eze, 2015). The organizations internal stakeholders would have to invest resources in terms of finance and employees have to be trained which invites prospect of change. Therefore, an organization has to weigh the feasibility of implementing a CRM approach in its existing scenario for engaging with customers. Employees as stakeholders could create issues with proficiency and thus the functionality of the CRM model could be hampered. Governmental authorities have certain influence as stakeholders through their influence on the financial decisions of the organization and ethical obligations. Customers play a major role as stakeholders in the CRM approach and they are highly responsible for feasibility of CRM strategy. The interface and activities adopted by the organization for interacting with customers must be flexible for customers in order to be successful. 5. The existing characteristics of customer relationship management models and the review of critical setbacks in CRM have influence of various stakeholders on the effectiveness of a strategy. Stakeholder engagement has to be realized on a personal level and the contemporary business environment requires implementation of strategies which are interactive as well as flexible. Customers as well as the different stakeholders associated with a CRM project in an organization must be appropriately prioritized. The prioritization would help in framing a CRM strategy with implications from other approaches such as ethical theory, technological developments and corporate culture. The recommendation for an improvised CRM model would be incomplete without considering the references to different risks which are associated with the management of CRM systems (Samad et al., 2014). The computerization of enterprise based systems has facilitated easier access to organizational information. However, t he complexity of the business environment is increasing gradually everyday and hence the volume of information as well as required infrastructure for data management activities have increased substantially. Therefore, an organization has to address such type of risks as well as capitalize on specific sectors such as user training and education, business strategy, user interaction and support from the top management in order to realize the CRM approach of stakeholder collaboration effectively. 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