Ethical Decision Making Essay

Ethics are important in business and the leader has important role in ethical decision making. A success leader is who has the courage to build his or her company to meet the needs of all the stakeholders, and who recognizes the importance of the service to society. The common theme for the leader play in ethical decision making is trust, fairness, and transparency. First, trust is based on ethical behavior of firm to form a strong base of any long-term business. Thus, leaders must act what they believe based on their strong value of religion, education, and family. Secondly, ethics refer to the fairness for making any decision or adjustment. Therefore, leaders should consider would their decision be fair for everyone affected by it before any action taken. Finally, it is important in such a way that is easy for others to see what actions are performed. Leader with well transparency would be happy to make the decision in public, especially to the people affected by it. Making the ethical decision is the duty of ethical leaders to instill these principles and face its sequential challenges. Business leaders must energize employees at all levels, utilizing a comprehensive set of methods to promote and recognize ethical actions. What must be in place for ethical decision making to occur in a business? In business, ethics is an essential configuration of leadership. The leader needs to make ethical decision when the business operators make competitive, strategic and tactical decisions that affect both stockholders and stakeholders such as downsizing and outsourcing. According to â€Å"How leader can be ethical role models† article, 79 percent of teens surveyed said they felt prepared to make ethical decisions when they enter the workforce. However, 38 percent said it is sometimes necessary to cheat, steal, lie or behave violently to succeed. Many leaders are now torn between company profits and doing the right thing. They are also torn between doing what is right for the company long-term and what is good for their careers in the short-term.

Prelude to Foundation Chapter 4 Library

VENABILI, DORS-†¦ Historian, born in Cinna†¦ Her life might well have continued on its uneventful course were it not for the fact that, after she had spent two years on the faculty of Streeling University, she became involved with the young Hari Seldon during The Flight†¦ Encyclopedia Galactica 16. The room that Hari Seldon found himself in was larger than Hummin's room in the Imperial Sector. It was a bedroom with one corner serving as a washroom and with no sign of any cooking or dining facilities. There was no window, though set in the ceiling was a grilled ventilator that made a steady sighing noise. Seldon looked about a bit ruefully. Hummin interpreted that look with his usual assured manner and said, â€Å"It's only for tonight, Seldon. Tomorrow morning someone will come to install you at the University and you will be more comfortable.† â€Å"Pardon me, Hummin, but how do you know that?† â€Å"I will make arrangements. I know one or two people here†-he smiled briefly without humor-â€Å"and I have a favor or two I can ask repayment for. Now let's go into some details.† He gazed steadily at Seldon and said, â€Å"Whatever you have left in your hotel room is lost. Does that include anything irreplaceable?† â€Å"Nothing really irreplaceable. I have some personal items I value for their association with my past life, but if they are gone, they are gone. There are, of course, some notes on my paper. Some calculations. The paper itself.† â€Å"Which is now public knowledge until such time as it is removed from circulation as dangerous-which it probably will be. Still, I'll be able to get my hands on a copy, I'm sure. In any case, you can reconstruct it, can't you?† â€Å"I can. That's why I said there was nothing really irreplaceable. Also, I've lost nearly a thousand credits, some books, clothing, my tickets back to Helicon, things like that.† â€Å"All replaceable.-Now I will arrange for you to have a credit tile in my name, charged to me. That will take care of ordinary expenses.† â€Å"That's unusually generous of you. I can't accept it.† â€Å"It's not generous at all, since I'm hoping to save the Empire in that fashion. You must accept it.† â€Å"But how much can you afford, Hummin? I'll be using it, at best, with an uneasy conscience.† â€Å"Whatever you need for survival or reasonable comfort I can afford, Seldon. Naturally, I wouldn't want you to try to buy the University gymnasium or hand out a million credits in largess.† â€Å"You needn't worry, but with my name on record-â€Å" â€Å"It might as well be. It is absolutely forbidden for the Imperial government to exercise any security control over the University or its members. There is complete freedom. Anything can be discussed here, anything can be said here.† â€Å"What about violent crime?† â€Å"Then the University authorities themselves handle it, with reason and care-and there are virtually no crimes of violence. The students and faculty appreciate their freedom and understand its terms. Too much rowdiness, the beginning of riot and bloodshed, and the government may feel it has a right to break the unwritten agreement and send in the troops. No one wants that, not even the government, so a delicate balance is maintained. In other words, Demerzel himself can not have you plucked out of the University without a great deal more cause than anyone in the University has given the government in at least a century and a half. On the other hand, if you are lured off the grounds by a student-agent-â€Å" â€Å"Are there student-agents?† â€Å"How can I say? There may be. Any ordinary individual can be threatened or maneuvered or simply bought-and may remain thereafter in the service of Demerzel or of someone else, for that matter. So I must emphasize this: You are safe in any reasonable sense, but no one is absolutely safe. You will have to be careful. But though I give you that warning, I don't want you to cower through life. On the whole, you will be far more secure here than you would have been if you had returned to Helicon or gone to any world of the Galaxy outside Trantor.† â€Å"I hope so,† said Seldon drearily. â€Å"I know so,† said Hummin, â€Å"Or I would not feel it wise to leave you.† â€Å"Leave me?† Seldon looked up sharply. â€Å"You can't do that. You know this world. I don't.† â€Å"You will be with others who know this world, who know this part of it, in fact, even better than I do. As for myself, I must go. I have been with you all this day and I dare not abandon my own life any longer. I must not attract too much attention to myself. Remember that I have my own insecurities, just as you have yours.† Seldon blushed. â€Å"You're right. I can't expect you to endanger yourself indefinitely on my behalf. I hope you are not already ruined.† Hummin said coolly, â€Å"Who can tell? We live in dangerous times. Just remember that if anyone can make the times safe-if not for ourselves, then for those who follow after us-it is you. Let that thought be your driving force, Seldon.† 17. Sleep eluded Seldon. He tossed and turned in the dark, thinking. He had have never felt quite so alone or quite so helpless as he did after Hummin had nodded, pressed his hand briefly, and left him behind. Now he was on a strange world-and in a strange part of that world. He was without the only person he could consider a friend (and that of less than a day's duration) and he had no idea of where he was going or what he would be doing, either tomorrow or at any time in the future. None of that was conducive to sleep so, of course, at about the time he decided, hopelessly, that he would not sleep that night or, possibly, ever again, exhaustion overtook him†¦ When he woke up it was still dark-or not quite, for across the room he saw a red light flashing brightly and rapidly, accompanied by a harsh, intermittent buzz. Undoubtedly, it was that which had awakened him. As he tried to remember where he was and to make some sort of sense out of the limited messages his senses were receiving, the flashing and buzzing ceased and he became aware of a peremptory rapping. Presumably, the rapping was at the door, but he didn't remember where the door was. Presumably, also, there was a contact that would flood the room with light, but he didn't remember where that was either. He sat up in bed and felt along the wall to his left rather desperately while calling out, â€Å"One moment, please.† He found the necessary contact and the room suddenly bloomed with a soft light. He scrambled out of bed, blinking, still searching for the door, finding it, reaching out to open it, remembering caution at the last moment, and saying in a suddenly stern, no-nonsense voice, â€Å"Who's there?† A rather gentle woman's voice said, â€Å"My dame is Dors Venabili and I have come to see Dr. Hari Seldon.† Even as that was said, a woman was standing just in front of the door, without that door ever having been opened. For a moment, Hari Seldon stared at her in surprise, then realized that he was wearing only a one-piece undergarment. He let out a strangled gasp and dashed for the bed and only then realized that he was staring at a holograph. It lacked the hard edge of reality and it became apparent the woman wasn't looking at him. She was merely showing herself for identification. He paused, breathing hard, then said, raising his voice to be heard through the door, â€Å"If you'll wait, I'll be with you. Give me†¦ maybe half an hour.† The woman-or the holograph, at any rate-said, â€Å"I'll wait,† and disappeared. There was no shower, so he sponged himself, making a rare mess on the tiled floor in the washroom corner. There was toothpaste but no toothbrush, so he used his finger. He had no choice but to put on the clothes he had been wearing the day before. He finally opened the door. He realized, even as he did so, that she had not really identified herself. She had merely given a name and Hummin had not told him whom to expect, whether it was to be this Dors Somebody or anyone else. He had felt secure because the holograph was that of a personable young woman, but for all he knew there might be half a dozen hostile young men with her. He peered out cautiously, saw only the woman, then opened the door sufficiently to allow her to enter. He immediately closed and locked the door behind her. â€Å"Pardon me,† he said, â€Å"What time is it?† â€Å"Nine,† she said, â€Å"The day has long since begun.† As far as official time was concerned, Trantor held to Galactic Standard, since only so could sense be made out of interstellar commerce and governmental dealings. Each world, however, also had a local time system and Seldon had not yet come to the point where he felt at home with casual Trantorian references to the hour. â€Å"Midmorning?† he said. â€Å"Of course.† â€Å"There are no windows in this room,† he said defensively. Dors walked to his bed, reached out, and touched a small dark spot on the wall. Red numbers appeared on the ceiling just over his pillow. They read: 0903. She smiled without superiority. â€Å"I'm sorry,† she said. â€Å"But I rather assumed Chetter Hummin would have told you I'd be coming for you at nine. The trouble with him is he's so used to knowing, he sometimes forgets that others occasionally don't know.-And I shouldn't have used radio-holographic identification. I imagine you don't have it on Helicon and I'm afraid I must have alarmed you.† Seldon felt himself relax. She seemed natural and friendly and the casual reference to Hummin reassured him. He said, â€Å"You're quite wrong about Helicon, Miss-â€Å" â€Å"Please call me Dors.† â€Å"You're still wrong about Helicon, Dors. We do have radioholography, but I've never been able to afford the equipment. Nor could anyone in my circle, so I haven't actually had the experience. But I understood what had happened soon enough.† He studied her. She was not very tall, average height for a woman, he judged. Her hair was a reddish-gold, though not very bright, and was arranged in shore curls about her head. (He had seen a number of women in Trantor with their hair so arranged. It was apparently a local fashion that would have been laughed at in Helicon.) She was not amazingly beautiful, but was quite pleasant to look at, this being helped by full lips that seemed to have a slight humorous curl to them. She was slim, well-built, and looked quite young. (Too young, he thought uneasily, to be of use perhaps.) â€Å"Do I pass inspection?† she asked. (She seemed to have Hummin's trick of guessing his thoughts, Seldon thought, or perhaps he himself lacked the trick of hiding them.) He said, â€Å"I'm sorry. I seem to have been staring, but I've only been trying to evaluate you. I'm in a strange place. I know no one and have no friends.† â€Å"Please, Dr. Seldon, count me as a friend. Mr. Hummin has asked me to take care of you.† Seldon smiled ruefully. â€Å"You may be a little young for the job.† â€Å"You'll find I am not.† â€Å"Well, I'll try to be as little trouble as possible. Could you please repeat your name?† â€Å"Dors Venabili.† She spelled the last name and emphasized the stress on the second syllable. â€Å"As I said, please call me Dors and if you don't object too strenuously I will call you Hari. We're quite informal here at the University and there is an almost self-conscious effort to show no signs of status, either inherited or professional.† â€Å"Please, by all means, call me Hari.† â€Å"Good. I shall remain informal then. For instance, the instinct for formality, if there is such a thing, would cause me to ask permission to sit down. Informally, however, I shall just sit.† She then sat down on the one chair in the room. Seldon cleared his throat. â€Å"Clearly, I'm not at all in possession of my ordinary faculties. I should have asked you to sit.† He sat down on the side of his crumpled bed and wished he had thought to straighten it out somewhat-but he had been caught by surprise. She said pleasantly, â€Å"This is how it's going to work, Hari. First, we'll go to breakfast at one of the University cafes. Then I'll get you a room in one of the domiciles-a better room than this. You'll have a window. Hummin has instructed me to get you a credit tile in his name, but it will take me a day or two to extort one out of the University bureaucracy. Until that's done, I'll be responsible for your expenses and you can pay me back later.-And we can use you. Chetter Hummin told me you're a mathematician and for some reason there's a serious lack of good ones at the University.† â€Å"Did Hummin tell you that I was a good mathematician?† â€Å"As a matter of fact, he did. He said you were a remarkable man-â€Å" â€Å"Well.† Seldon looked down at his fingernails. â€Å"I would like to be considered so, but Hummin knew me for less than a day and, before that, he had heard me present a paper, the quality of which he has no way of judging. I think he was just being polite.† â€Å"I don't think so,† said Dors. â€Å"He is a remarkable person himself and has had a great deal of experience with people. I'll go by his judgment. In any case, I imagine you'll have a chance to prove yourself. You can program computers, I suppose.† â€Å"Of course.† â€Å"I'm talking about teaching computers, you understand, and I'm asking if you can devise programs to teach various phases of contemporary mathematics.† â€Å"Yes, that's part of my profession. I'm assistant professor of mathematics at the University of Helicon.† She said, â€Å"Yes, I know. Hummin told me that. It means, of course, that everyone will know you are a non-Trantorian, but that will present no serious problems. We're mainly Trantorian here at the University, but there's a substantial minority of Outworlders from any number of different worlds and that's accepted. I won't say that you'll never hear a planetary slur but actually the Outworlders are more likely to use them than the Trantorians. I'm an Outworlder myself, by the way.† â€Å"Oh?† He hesitated and then decided it would be only polite to ask. â€Å"What world are you from?† â€Å"I'm from Cinna. Have you ever heard of it?† He'd be caught out if he was polite enough to lie, Seldon decided, so he said, â€Å"No.† â€Å"I'm not surprised. It's probably of even less account than Helicon is. Anyway, to get back to the programming of mathematical teaching computers, I suppose that that can be done either proficiently or poorly.† â€Å"Absolutely.† â€Å"And you would do it proficiently.† â€Å"I would like to think so.† â€Å"There you are, then. The University will pay you for that, so let's go out and eat. Did you sleep well, by the way?† â€Å"Surprisingly, I did.† â€Å"And are you hungry?† â€Å"Yes, but-† He hesitated. She said cheerfully, â€Å"But you're worried about the quality of the food, is that it? Well, don't be. Being an Outworlder myself, I can understand your feelings about the strong infusion of microfood into everything, but the University menus aren't bad. In the faculty dining room, at least. The students suffer a bit, but that serves to harden them.† She rose and turned to the door, but stopped when Seldon could not keep himself from saying, â€Å"Are you a member of the faculty?† She turned and smiled at him impishly. â€Å"Don't I look old enough? I got my doctorate two years ago at Cinna and I've been here ever since. In two weeks, I'll be thirty.† â€Å"Sorry,† said Seldon, smiling in his turn, â€Å"but you can't expect to look twenty-four and not raise doubts as to your academic status.† â€Å"Aren't you nice?† said Dors and Seldon felt a certain pleasure wash over him. After all, he thought, you can't exchange pleasantries with an attractive woman and feel entirely like a stranger. 18. Dors was right. Breakfast was by no means bad. There was something that was unmistakably eggy and the meat was pleasantly smoked. The chocolate drink (Trantor was strong on chocolate and Seldon did not mind that) was probably synthetic, but it was tasty and the breakfast rolls were good. He felt is only right to say as much. â€Å"This has been a very pleasant breakfast. Food. Surroundings. Everything.† â€Å"I'm delighted you think so,† said Dors. Seldon looked about. There were a bank of windows in one wall and while actual sunlight did not enter (he wondered if, after a while, he would learn to be satisfied with diffuse daylight and would cease to look for patches of sunlight in a room), the place was light enough. In fact, it was quite bright, for the local weather computer had apparently decided is was time for a sharp, clear day. The cables were arranged for four apiece and most were occupied by the full number, but Dors and Seldon remained alone at theirs. Dors had called over some of the men and women and had introduced them. All had been polite, but none had joined them. Undoubtedly, Dors intended that to be so, but Seldon did not see how she managed to arrange it. He said, â€Å"You haven't introduced me to any mathematicians, Dors.† â€Å"I haven't seen any that I know. Most mathematicians start the day early and have classes by eight. My own feeling is that any student so foolhardy as to take mathematics wants to get that part of the course over with as soon as possible.† â€Å"I take it you're not a mathematician yourself.† â€Å"Anything but,† said Dors with a short laugh. â€Å"Anything. History is my field. I've already published some studies on the rise of Trantor-I mean the primitive kingdom, not this world. I suppose that will end up as my field of specialization-Royal Trantor.† â€Å"Wonderful,† said Seldon. â€Å"Wonderful?† Dors looked at him quizzically. â€Å"Are you interested in Royal Trantor too?† â€Å"In a way, yes. That and other things like that. I've never really studied history and I should have.† â€Å"Should you? If you had studied history, you'd scarcely have had time to study mathematics and mathematicians are very much needed-especially at this University. We're full to here with historians,† she said, raising her hand to her eyebrows, â€Å"and economists and political scientists, but we're short on science and mathematics. Chetter Hummin pointed that out to me once. He called it the decline of science and seemed to think it was a general phenomenon.† Seldon said, â€Å"Of course, when I say I should have studied history, I don't mean that I should have made it a life work. I meant I should have studied enough to help me in my mathematics. My field of specialization is the mathematical analysis of social structure.† â€Å"Sounds horrible.† â€Å"In a way, it is. It's very complicated and without my knowing a great deal more about how societies evolved it's hopeless. My picture is too static, you see.† â€Å"I can't see because I know nothing about it. Chetter told me you were developing something called psychohistory and that it was important. Have I got it right? Psychohistory?† â€Å"That's right. I should have called it ‘psychosociology,' but it seemed to me that was too ugly a word. Or perhaps I knew instinctively that a knowledge of history was necessary and then didn't pay sufficient attention to my thoughts.† â€Å"Psychohistory does sound better, but I don't know what it is.† â€Å"I scarcely do myself.† He brooded a few minutes, looking at the woman on the other side of the table and feeling that she might make this exile of his seem a little less like an exile. He thought of the other woman he had known a few years ago, but blocked it off with a determined effort. If he ever found another companion, it would have to be one who understood scholarship and what it demanded of a person. To get his mind onto a new track, he said, â€Å"Chetter Hummin told me that the University is in no way troubled by the government.† â€Å"He's right.† Seldon shook his head. â€Å"That seems rather unbelievably forbearing of the Imperial government. The educational institutions on Helicon are by no means so independent of governmental pressures.† â€Å"Nor on Cinna. Nor on any Outworld, except perhaps for one or two of the largest. Trantor is another matter.† â€Å"Yes, but why?† â€Å"Because it's the center of the Empire. The universities here have enormous prestige. Professionals are turned out by any university anywhere, but the administrators of the Empire-the high officials, the countless millions of people who represent the tentacles of Empire reaching into every corner of the Galaxy-are educated right here on Trantor.† â€Å"I've never seen the statistics-† began Seldon. â€Å"Take my word for it. It is important that the officials of the Empire have some common ground, some special feeling for the Empire. And they can't all be native Trantorians or else the Outworlds would grow restless. For that reason, Trantor must attract millions of Outworlders for education here. It doesn't matter where they come from or what their home accent or culture may be, as long as they pick up the Trantorian patina and identify themselves with a Trantorian educational background. That's what holds the Empire together. The Outworlds are also less restive when a noticeable portion of the administrators who represent the Imperial government are their own people by birth and upbringing.† Seldon felt embarrassed again. This was something he had never given any thought to. He wondered if anyone could be a truly great mathematician if mathematics was all he knew. He said, â€Å"Is this common knowledge?† â€Å"I suppose it isn't,† said Dors after some thought. â€Å"There's so much knowledge to be had that specialists cling to their specialties as a shield against having to know anything about anything else. They avoid being drowned.† â€Å"Yet you know it.† â€Å"But that's my specialty. I'm a historian who deals with the rise of Royal Trantor and this administrative technique was one of the ways in which Trantor spread its influence and managed the transition from Royal Trantor to Imperial Trantor.† Seldon said, almost as though muttering to himself, â€Å"How harmful overspecialization is. It cuts knowledge at a million points and leaves it bleeding.† Dors shrugged. â€Å"What can one do?-But you see, if Trantor is going to attract Outworlders to Trantorian universities, it has to give them something in return for uprooting themselves and going to a strange world with an incredibly artificial structure and unusual ways. I've been here two years and I'm still not used to it. I may never get used to it. But then, of course, I don't intend to be an administrator, so I'm not forcing myself to be a Trantorian. â€Å"And what Trantor offers in exchange is not only the promise of a position with high status, considerable power, and money, of course, but also freedom. While students are having their-education, they are free to denounce the government, demonstrate against it peacefully, work out their own theories and points of view. They enjoy that and many come here so that they can experience the sensation of liberty.† â€Å"I imagine,† said Seldon, â€Å"that it helps relieve pressure as well. They work off all their resentments, enjoy all the smug self-satisfaction a young revolutionary would have, and by the time they take their place in the Imperial hierarchy, they are ready to settle down into conformity and obedience.† Dors nodded. â€Å"You may be right. In any case, the government, for all these reasons, carefully preserves the freedom of the universities. It's not a matter of their being forbearing at all-only clever.† â€Å"And if you're not going to be an administrator, Dors, what are you going to be?† â€Å"A historian. I'll teach, put book-films of my own into the programming.† â€Å"Not much status, perhaps.† â€Å"Not much money, Hari, which is more important. As for status, that's the sort of push and pull I'd just as soon avoid. I've seen many people with status, but I'm still looking for a happy one. Status won't sit still under you; you have to continually fight to keep from sinking. Even Emperors manage to come to bad ends most of the time. Someday I may just go back to Cinna and be a professor.† â€Å"And a Trantorian education will give you status.† Dors laughed. â€Å"I suppose so, but on Cinna who would care? It's a dull world, full of farms and with lots of cattle, both four-legged and two-legged.† â€Å"Won't you find it dull after Trantor?† â€Å"Yes, that's what I'm counting on. And if it gets too dull, I can always wangle a grant to go here or there to do a little historical research. That's the advantage of my field.† â€Å"A mathematician, on the other hand,† said Seldon with a trace of bitterness at something that had never before bothered him, â€Å"is expected to sit at his computer and think. And speaking of computers-† He hesitated. Breakfast was done and it seemed to him more than likely she had some duties of her own to attend to. But she did not seem to be in any great hurry to leave. â€Å"Yes? Speaking of computers?† â€Å"Would I be able to get permission to use the history library?† Now it was she who hesitated. â€Å"I think that can be arranged. If you work on mathematics programming, you'll probably be viewed as a quasi-member of the faculty and I could ask for you to be given permission. Only-â€Å" â€Å"Only?† â€Å"I don't want to hurt your feelings, but you're a mathematician and you say you know nothing about history. Would you know how to make use of a history library?† Seldon smiled. â€Å"I suppose you use computers very much like those in a mathematics library.† â€Å"We do, but the programming for each specialty has quirks of its own. You don't know the standard reference book-films, the quick methods of winnowing and skipping. You may be able to find a hyperbolic interval in the dark†¦Ã¢â‚¬  â€Å"You mean hyperbolic integral,† interrupted Seldon softly. Dors ignored him. â€Å"But you probably won't know how to get the terms of the Treaty of Poldark in less than a day and a half.† â€Å"I suppose I could learn.† â€Å"If†¦ if†¦Ã¢â‚¬  She looked a little troubled. â€Å"If you want to, I can make a suggestion. I give a week's course-one hour each day, no credit-on library use. It's for undergraduates. Would you feel it beneath your dignity to sit in on such a course-with undergraduates, I mean? It starts in three weeks.† â€Å"You could give me private lessons.† Seldon felt a little surprised at the suggestive tone that had entered his voice. She did not miss it. â€Å"I dare say I could, but I think you'd be better off with more formal instruction. We'll be using the library, you understand, and at the end of the week you will be asked to locate information on particular items of historical interest. You will be competing with the other students all through and that will help you learn. Private tutoring will be far less efficient, I assure you. However, I understand the difficulty of competing with undergraduates. If you don't do as well as they, you may feel humiliated. You must remember, though, that they have already studied elementary history and you, perhaps, may not have.† â€Å"I haven't. No ‘may' about it. But I won't be afraid to compete and I won't mind any humiliation that may come along-if I manage to learn the tricks of the historical reference trade.† It was clear to Seldon that he was beginning to like this young woman and that he was gladly seizing on the chance to be educated by her. He was also aware of the fact that he had reached a turning point in his mind. He had promised Hummin to attempt to work out a practical psychohistory, but that had been a promise of the mind and not the emotions. Now he was determined to seize psychohistory by the throat if he had to-in order to make it practical. That, perhaps, was the influence of Dors Venabili. Or had Hummin counted on that? Hummin, Seldon decided, might well be a most formidable person. 19. Cleon I had finished dinner, which, unfortunately, had been a formal state affair. It meant he had to spend time talking to various officials-not one of whom he knew or recognized-in set phrases designed to give each one his stroke and so activate his loyalty to the crown. It also meant that his food reached him but lukewarm and had cooled still further before he could eat it. There had to be some way of avoiding that. Eat first, perhaps, on his own or with one or two close intimates with whom he could relax and then attend a formal dinner at which he could merely be served an imported pear. He loved pears. But would that offend the guests who would take the Emperor's refusal to eat with them as a studied insult. His wife, of course, was useless in this respect, for her presence would but further exacerbate his unhappiness. He had married her because she was a member of a powerful dissident family who could be expected to mute their dissidence as a result of the union, though Cleon devoutly hoped that she, at least, would not do so. He was perfectly content to have her live her own life in her own quarters except for the necessary efforts to initiate an heir, for, to tell the truth, he didn't like her. And now that an heir had come, he could ignore her completely. He chewed at one of a handful of nuts he had pocketed from the table on leaving and said, â€Å"Demerzel!† â€Å"Sire?† Demerzel always appeared at once when Cleon called. Whether he hovered constantly in earshot at the door or he drew close because the instinct of subservience somehow alerted him to a possible call in a few minutes, he did appear and that, Cleon thought idly, was the important thing. Of course, there were those times when Demerzel had to be away on Imperial business. Cleon always hated those absences. They made him uneasy. â€Å"What happened to that mathematician? I forget his name.† Demerzel, who surely knew the man the Emperor had in mind, but who perhaps wanted to study how much the Emperor remembered, said, â€Å"What mathematician is it that you have in mind, Sire?† Cleon waved an impatient hand. â€Å"The fortune-teller. The one who came to see me.† â€Å"The one we sent for?† â€Å"Well, sent for, then. He did come to see me. You were going to take care of the matter, as I recall. Have you?† Demerzel cleared his throat. â€Å"Sire, I have tried to.† â€Å"Ah! That means you have failed, doesn't it?† In a way, Cleon felt pleased. Demerzel was the only one of his Ministers who made no bones of failure. The others never admitted failure, and since failure was nevertheless common, it became difficult to correct. Perhaps Demerzel could afford to be more honest because he failed so rarely. If it weren't for Demerzel, Cleon thought sadly, he might never know what honesty sounded like. Perhaps no Emperor ever knew and perhaps that was one of the reasons that the Empire- He pulled his thoughts away and, suddenly nettled at the other's silence and wanting an admission, since he had just admired Demerzel's honesty in his mind, said sharply, â€Å"Well, you have failed, haven't you?† Demerzel did not flinch. â€Å"Sire, I have failed in part. I felt that to have him here on Trantor where things are-difficult might present us with problems. It was easy to consider that he might be more conveniently placed on his home planet. He was planning to return to that home planet the next day, but there was always the chance of complications-of his deciding to remain on Trantor-so I arranged to have two young alley men place him on his plane that very day.† â€Å"Do you know alley men, Demerzel?† Cleon was amused. â€Å"It is important, Sire, to be able to reach many kinds of people, for each type has its own variety of use-alley men not the least. As it happens, they did not succeed.† â€Å"And why was that?† â€Å"Oddly enough, Seldon was able to fight them off.† â€Å"The mathematician could fight?† â€Å"Apparently, mathematics and the martial arts are not necessarily mutually exclusive. I found out, not soon enough, that his world, Helicon, is noted for it-martial arts, not mathematics. The fact that I did not learn this earlier was indeed a failure, Sire, and I can only crave your pardon.† â€Å"But then, I suppose the mathematician left for his home planet the next day as he had planned.† â€Å"Unfortunately, the episode backfired. Taken aback by the event, he decided not to return to Helicon, but remained on Trantor. He may have been advised to this effect by a passerby who happened to be present on the occasion of the fight. That was another unlooked-for complication.† The Emperor Cleon frowned. â€Å"Then our mathematician-what is his name?† â€Å"Seldon, Sire. Hari Seldon.† â€Å"Then this Seldon is out of reach.† â€Å"In a sense, Sire. We have traced his movements and he is now at Streeling University. While there, he is untouchable.† The Emperor scowled and reddened slightly. â€Å"I am annoyed at that word-‘untouchable.' There should be nowhere in the Empire my hand cannot reach. Yet here, on my own world, you tell me someone can be untouchable. Insufferable!† â€Å"Your hand can reach to the University, Sire. You can send in your army and pluck out this Seldon at any moment you desire. To do so, however, is†¦ undesirable.† â€Å"Why don't you say ‘impractical,' Demerzel. You sound like the mathematician speaking of his fortune-telling. It is possible, but impractical. I am an Emperor who finds everything possible, but very little practical. Remember, Demerzel, if reaching Seldon is not practical, reaching you is entirely so.† Eto Demerzel let this last comment pass. The â€Å"man behind the throne† knew his importance to the Emperor, he had heard such threats before. He waited in silence while the Emperor glowered. Drumming his fingers against the arm of his chair, Cleon asked,†¦ Well then, what good is this mathematician to us if he is at Streeling University?† â€Å"It may perhaps be possible, Sire, to snatch use out of adversity. At the University, he may decide to work on his psychohistory.† â€Å"Even though he insists it's impractical?† â€Å"He may be wrong and he may find out that he is wrong. And if he finds out that he is wrong, we would find some way of getting him out of the University. It is even possible he would join us voluntarily under those circumstances.† The Emperor remained lost in thought for a while, then said, â€Å"And what if someone else plucks him out before we do?† â€Å"Who would want to do that, Sire?† asked Demerzel softy. â€Å"The Mayor of Wye, for one,† said Cleon, suddenly shouting. â€Å"He dreams still of taking over the Empire.† â€Å"Old age has drawn his fangs, Sire.† â€Å"Don't you believe it, Demerzel.† â€Å"And we have no reason for supposing he has any interest in Seldon or even knows of him, Sire.† â€Å"Come on, Demerzel. If we heard of the paper, so could Wye. If we see the possible importance of Seldon, so could Wye.† â€Å"If that should happen,† said Demerzel, â€Å"or even if there should be a reasonable chance of its happening, then we would be justified in taking strong measures.† â€Å"How strong?† Demerzel said cautiously, â€Å"It might be argued that rather than have Seldon in Wye's hands, we might prefer to have him in no one's hands. To have him cease to exist, Sire.† â€Å"To have him killed, you mean,† said Cleon. â€Å"If you wish to put it that way, Sire,† said Demerzel. 20. Hari Seldon sat back in his chair in the alcove that had been assigned to him through Dors Venabili's intervention. He was dissatisfied. As a matter of fact, although that was the expression he used in his mind, he knew that it was a gross underestimation of his feelings. He was not simply dissatisfied, he was furious-all the more so because he wasn't sure what it was he was furious about. Was it about the histories? The writers and compilers of histories? The worlds and people that made the histories? Whatever the target of his fury, it didn't really matter. What counted was that his notes were useless, his new knowledge was useless, everything was useless. He had been at the University now for almost six weeks. He had managed to find a computer outlet at the very start and with it had begun work-without instruction, but using the instincts he had developed over a number of years of mathematical labors. It had been slow and halting, but there was a certain pleasure in gradually dete rmining the routes by which he could get his questions answered. Then came the week of instruction with Dors, which had taught him several dozen shortcuts and had brought with it two sets of embarrassments. The first set included the sidelong glances he received from the undergraduates, who seemed contemptuously aware of his greater age and who were disposed to frown a bit at Dors's constant use of the honorific â€Å"Doctor† in addressing him. â€Å"I don't want them to think,† she said, â€Å"that you're some backward perpetual student taking remedial history.† â€Å"But surely you've established the point. Surely, a mere ‘Seldon' is sufficient now.† â€Å"No,† Dors said and smiled suddenly. â€Å"Besides, I like to call you ‘Dr. Seldon.' I like the way you look uncomfortable each time.† â€Å"You have a peculiar sense of sadistic humor.† â€Å"Would you deprive me?† For some reason, that made him laugh. Surely, the natural reaction would have been to deny sadism. Somehow he found it pleasant that she accepted the ball of conversation and fired it back. The thought led to a natural question. â€Å"Do you play tennis here at the University?† â€Å"We have courts, but I don't play.† â€Å"Good. I'll teach you. And when I do, I'll call you Professor Venabili.† â€Å"That's what you call me in class anyway.† â€Å"You'll be surprised how ridiculous it will sound on the tennis court.† â€Å"I may get to like it.† â€Å"In that case, I will try to find what else you might get to like.† â€Å"I see you have a peculiar sense of salacious humor.† She had put that ball in that spot deliberately and he said, â€Å"Would you deprive me?† She smiled and later did surprisingly well on the tennis court. â€Å"Are you sure you never played tennis?† he said, puffing, after one session. â€Å"Positive,† she said. The other set of embarrassments was more private. He learned the necessary techniques of historical research and then burned-in private-at his earlier attempts to make use of the computer's memory. It was simply an entirely different mind-set from that used in mathematics. It was equally logical, he supposed, since it could be used, consistently and without error, to move in whatever direction he wanted to, but it was a substantially different brand of logic from that to which he was accustomed. But with or without instructions, whether he stumbled or moved in swiftly, he simply didn't get any results. His annoyance made itself felt on the tennis court. Dors quickly reached the stage where it was no longer necessary to lob easy balls at her to give her time to judge direction and distance. That made it easy to forget that she was just a beginner and he expressed his anger in his swing, firing the ball back at her as though it were a laser beam made solid. She came trotting up to the net and said, â€Å"I can understand your wanting to kill me, since it must annoy you to watch me miss the shots so often. How is it, though, that you managed to miss my head by about three centimeters that time? I mean, you didn't even nick me. Can't you do better than that?† Seldon, horrified, tried to explain, but only managed to sound incoherent. She said, â€Å"Look. I'm not going to face any other returns of yours today, so why don't we shower and then get together for some tea and whatever and you can tell me just what you were trying to kill. If it wasn't my poor head and if you don't get the real victim off your chest, you'll be entirely too dangerous on the other side of the net for me to want to serve as a target.† Over tea he said, â€Å"Dors, I've scanned history after history; just scanned, browsed. I haven't had time for deep study yet. Even so, it's become obvious. All the book-films concentrate on the same few events.† â€Å"Crucial ones. History-making ones.† â€Å"That's just an excuse. They're copying each other. There are twenty-five million worlds out there and there's significant mention of perhaps twenty-five.† Dors said, â€Å"You're reading general Galactic histories only. Look up the special histories of some of the minor worlds. On every world, however small, the children are taught local histories before they ever find out there's a great big Galaxy outside. Don't you yourself know more about Helicon, right now, than you know about the rise of Trantor or of the Great Interstellar War?† â€Å"That sort of knowledge is limited too,† said Seldon gloomily. â€Å"I know Heliconian geography and the stories of its settlement and of the malfeasance and misfeasance of the planet Jennisek-that's our traditional enemy, though our teachers carefully told us that we ought to say ‘traditional rival.' But I never learned anything about the contributions of Helicon to general Galactic history.† â€Å"Maybe there weren't any.† â€Å"Don't be silly. Of course there were. There may not have been great, huge space battles involving Helicon or crucial rebellions or peace treaties. There may not have been some Imperial competitor making his base on Helicon. But there must have been subtle influences. Surely, nothing can happen anywhere without affecting everywhere else. Yet there's nothing I can find to help me. See here, Dors. In mathematics, all can be found in the computer; everything we know or have found out in twenty thousand years. In history, that's not so. Historians pick and choose and every one of them picks and chooses the same thing.† â€Å"But, Hari,† said Dors, â€Å"mathematics is an orderly thing of human invention. One thing follows from another. There are definitions and axioms, all of which are known. It is†¦ it is†¦ all one piece. History is different. It is the unconscious working out of the deeds and thoughts of quadrillions of human beings. Historians must pick and choose.† â€Å"Exactly,† said Seldon, â€Å"but I must know all of history if I am to work out the laws of psychohistory.† â€Å"In that case, you won't ever formulate the laws of psychohistory.† That was yesterday. Now Seldon sat in his chair in his alcove, having spent another day of utter failure, and he could hear Dors's voice saying, â€Å"In that case, you won't ever formulate the laws of psychohistory.† It was what he had thought to begin with and if it hadn't been for Hummin's conviction to the contrary and his odd ability to fire Seldon with his own blaze of conviction, Seldon would have continued to think so. And yet neither could he quite let go. Might there not be some way out? He couldn't think of any.

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Collecting and Analyzing Data - Assignment Example Eradicate the cases of anxiety among teenage girls in the City of Everett Public School System. 4. Theory: The health promotion program is founded by the cognitive model of anxiety. The framework looks at anxiety from the perspective of vulnerability and describes the appraisal of threat (Clark & Beck, 2011). 5. Program activities: The health promotion program main activity is to assess the African American girls between 12-18 years in the City of Everett Public School system. The girls are then put in different groups to utilize one specific treatment that will give different results for comparison to determine the best option. 6. Resources and constraints: The resources available for the health promotion program include experiential support references got from different studies to help in determining the effective treatment. The community serves as an important resource to help identify acceptable cultural behaviors that are applicable to the health promotion program. The constraints in the health promotion program include insufficient resources that cannot see the program to the end. There is also a challenge from the perspective of the students who do not adhere to the established treatment sessions. The challenge encountered in creating the health promotion program plan included information strategies were not enough to influence the prime behavior because there is competition with the numerous information that the African American girls are exposed to. There is also the difficulty in making sure the information flows in two ways enabling mutual understanding of the African American girls and the professionals. To overcome these challenges I introduced the health promotion program to the African American girls in a debate setting. In this environment, the African American girls came into contact with the health professionals involved. The participants also expressed their

Setting up a new refinery in Panama Research Paper

Setting up a new refinery in Panama - Research Paper Example A production plant processes the feedstock of a refinery. A depot, tank farm, is usually located near or at a petroleum refinery and it stores bulk of liquid products. A refinery is considered as a vital part of the downstream end of the petroleum industry. There are very important and major roles played by refineries in development of countries, regions and the world as a whole. Professionals in this field are cognizant of the reality that natural resources are scarce, the importance and desire for practices that are sustainable. They also reckon the need for social fairness in the use of these limited resources. They are therefore tasked with the leading role in designing, planning, building and securing a sustainable future. Refineries act as link between natural resources and the consumer. In their capacity, oil planners must continuously take part in multidisciplinary teams often with other professionals, such as economists, sociologists, and ecologists to address the issues and challenges of sustainable natural resource development. They should therefore advocate economic principles that recognize our environment and natural resources as capital assets. The largest chunk of Panama’s trade transactions take place in the Colon Free Trade zone, the biggest free trade zoned in the world. From the estimates of the Colon Zone Management, this trade region has accounted for 92% of Panama’s exports and 64% imports in during 2007. In 1982, Panama entered into a Bilateral Investment Treaty with the United States. This agreement has been put in place to protect the United States private investment in Panama and also help it in developing its economy. In addition, Panama and the US signed an FTA agreement in 2007 and are under implementation. The United States is by far the principal trade partner of Panama. It accounts for about a third of Panama’s imports and exports. Panama’s major trade partners according to CIA reports for 2009 are as follows: Exports Imports United States 39.2% United States 29.6% Netherlands 10.7% Costa Rica 5% Costa Rica 5.8% China 5% Sweden 5.4% Japan 4.2% The main exports from Panama are; B ananas, Coffee, Shrimp, Sugar and Clothing. The nation is highly dependent of consumer and capital goods. The trade situation has improved significantly owing to the endeavor to expand the Panama Canal that has been under construction since 2007. The project is estimated to be $5.3 billion and is expected to continue the revamping on the trade sector. The number one agricultural export- predominantly controlled by foreigners is bananas. It is followed by shrimp. Panama experienced a decline in exports of about 11% from 1997 to 1998. This was caused by quotas imposed by the EU on banana exports and that banana exports contribute a fifth of all exports. The Free Trade Zone has increased the light industry exports, manufacturing and clothing textiles. On the other hand, Panama has experienced competition from Mexico starting 1996 and has experienced stunted growth since 1998 due to protective tariffs imposed on the country. COUNTRY EXPORTS IMPORTS BALANCE United States 354 1,117 -763 S weden 62 25 37 Costa Rica 41 119 -78 Mexico 24 133 -109 Guatemala 21 62 -41 Spain 13 61 -48 Japan 12 186 -174 Colombia 9 116 -107 Ecuador 4 243 -239 Venezuela 4 222 -218 Foreign firm investment in Panama A foreign firm seeking investment in a large firm would be at an advantage

If the First World War was the war to end all wars, why was there a Essay

If the First World War was the war to end all wars, why was there a Second World War so soon after the First - Essay Example The first World War crippled the whole country of France and this once powerful nation demanded retribution, but they pushed it to the very limits of establishing one of the primary causation factors of the Second World War. From a realist perspective, it is in the normal aspectual realm to assume that because France was so depleted economically and politically, the feeling was one of a sense of hopelessness throughout that country (Aldcroft 1997). Therein lies the reasoning by France to demand some form of compensation from Germany in order to regroup and rebuild her lands. The compromises that France wished Germany to make were beyond rationalization, from the Germans perspective of the political issues. The supposed peace ‘The Treaty of Versailles’ was implied to have brought did nothing more than incite rage and fuel the flames of retaliation from the Germans. In actuality, there never really was a period of substantial rest between these historic wars. What did appear to be present, in the literary sense, was a prevalence of disdain and lack of trust from the Germans, in relation to France and her harsh implications. This lack of stability affected the whole European continent. These are some of the literary points that will be researched and theorized in this paper. It will look into the vast reasons why there was a part II of the first World War and what was the main factors leading to it. Three perspectives will be attempted to be intertwined into this literary work which are the: realistic, liberal, and Marxist theorizations that will give the causes as to how, why and what lead to the provocation of the Second World War. It was in 1946 that two main political speaker’s theorizations on the cause of WWII were openly acknowledged. Stalin and Churchill both had ideas into the causation of the Second World War, both holding similarities and differences at the same time. Perhaps this was due to one perspective being a UK

My Dream House Essay Example for Free

My Dream House Essay Living life large as people may say it, is my kind of lifestyle, my dream is to make it big and enjoy the finest things in life. Indeed, this can only come with dedication, hard work and a master plan. My dream house can be described in two words, classy and comfortable. The setting should be at the beach where I can view the ocean and enjoy cool breeze; this would also give me the chance to enjoy my hobby, that it swimming. The design should be a mixture of the old and modern architecture and rises above the ground to be held by large beacons. The high rise would ensure that the trees do not block my ocean view. The color would be sky blue that would match and blend with the nearby ocean waters and which also happens to be my favorite color. The roofing should be fitted in that it is able to monitor the beach and ocean activities and acts as a remote weather station. In the inside, the plain white color would brace the walls with paintings from exhibitions. I like paintings from the Africa continent and the ancient Asian art. In addition, sculptures would come in handy in the interior decorations. The black leather couches would have a clear appeal to the house and make it comfortable. Furnishing the house would be very easy as my preference would be artistic furniture. A lazy bag is also a favorite piece, not because am lazy but because it ensures creativity and relaxation; additionally, the Jacuzzi would be a no missing feature. I would not go for the many roomed and large houses since they have a feel of loneliness.  In conclusion, my dream house stands out because of the setting, design and the blend of a modern and ancient structure.

Customer Relationship Management of Lloyds Banking

Customer Relationship Management of Lloyds Banking 1.0 INTRODUCTION This chapter provides the brief introduction of research. Furthermore, it also discusses the aims, objectives of the research questions and scope of the study. 1.1 TOPIC OF THE RESEARCH Customer Relationship Management of Lloyds Banking Group PLC; A Critical Evaluation 1.2 INTRODUCTION TO RESEARCH Peter Drucker said, â€Å"The purpose of a business is to create customers†. Customer Relationship Management can be the single strongest weapon we have as manage to ensure that customers become and remain loyal. Customer Relationship Management, or CRM, is an essential part of modern business management. CRM concerns the relation between the organisation and its customers. Customers are the lifeblood of any company be it a global corporation with thousands of employees and a multi-billion turnover, or a sole trader with a handful of regular customers. CRM is the same in principle for both examples. Globalization and technology improvements have pushed companies into hard competition. In this new era organisations are targeting on managing customer relationships, mainly customer satisfaction, in order to maximize revenues (Constantinos 2003). Today, marketing is not just developing, delivering and selling; it is shifting towards developing and maintaining equally long term relationships with customers (Buttle, 1996). This new business values is called relationship marketing (RM), which has involved significant interest both from marketing academics and practitioners (Gronroos, 1994). The Greek philosopher, Epictetus said that â€Å"what concern me is not the way things are, but rather the way people think things are† (Szwarch, 2005, p.3). The concepts of consumer satisfaction were depending on the thinking of consumer. Research suggests that customer satisfaction, basic concept of relationship marketing, is important in achieving and retaining competitive advantage. Research studies have discovered that retaining current customers is much less expensive than attracting new customers (Desatnick, 1988; Stone et al., 1996; Bitran and Mondschein, 1997; Chattopadhyay, 2001; Massey et al., 2001). The best way to retain customers is to keep them satisfied, a number of studies have shown that customer satisfaction can guide to brand loyalty, repurchases intention and repeat sales (Day, 1984; Swan and Oliver, 1989; Oliver, 1999). Customer retention, in turn, seems to be related to profitability (Oliver, 1999). Relationship marketing is becoming significant in financial services (Zineldin, 1995). If a bank develops and sustains a solid relationship with its customers, its competitors cannot easily replace them and so this relationship provides for a continued competitive advantage (Gilbert, 2003). Moriarty et al. (1983) has suggested relationship concept in the banking sector which states that banks can increase their profits by maximising the profitability of the total customer relationship over time, instead of looking for to get more profit from any single transaction. Perrien et al. (1992) observed severe competitive pressures that forces financial institution to restructure their marketing strategies by developing into long-term relationship with customers. And banking industry purely related to financial services, which needs to create the trust among the people. This research is exploratory in nature and design. The data which is collected is going to be mostly primary data collected from the relevant persons within the bank. The data has gathered from the face to face interviews with the help of structured and semi-structured questionnaire with those persons. The above describe interviews has last 40 (fourty) to 45 (fourty five) minutes (approx). On the other hand the researcher has decided to collect primary data from random interviews of Lloyds Banking Groups customers. Sample size is around 200 customers and of structured questionnaire. But of course this research paper has relied on reviewing the various secondary data available from various researches such as books, magazines, website, previous research and publication etc. The collected data has been analysed by graphs, table and pi chart drawn from Microsoft excel. 1.3 AIM OF THE RESEARCH The aim of the research is to study why CRM is important in bank, how the CRM works in banks and also the effectiveness of Lloyds Banking Group in obtaining long term customer relationship, customer loyalty, and customer satisfaction by the use of CRM. And also suggest feasible recommendations to Lloyds Banking Group to increase the customer satisfaction and market share by the effective use of CRM. 1.4 OBJECTIVES OF THE RESEARCH The followings are the objectives of this research; To study how critically practised in Lloyds Banking Group Analysis the data mining process of Lloyds Banking Group To find out how the bank segments their customers To analysis how the bank retaining their customers To find out how does the bank measure customer Life Time Value To verify the relationship between the customers and the Lloyds Banking Group 1.5 SCOPE OF THE STUDY The scope of the study and research work has limited to Lloyds Banking Group only. This chosen level of aspects has stayed at large in the study so that it can be studied well and analyzed thoroughly to get a deeper understanding. Trying to cover too much ground may lead to a very superficial and confused analysis and may involve long time duration to complete the project work or report. Therefore a specified and narrow down approach with Lloyds Banking Group and an evaluation of its success has comprised with the researc 2.0 LITERATURE REVIEW This chapter contains a review of literature relevant to the research. This literature review deals with, about CRM, the history and goals of an integrated banking CRM, the technological factor of CRM, the process cycle in banks, data warehouse technology, data mining process, how to analysis the data, customer segmentation process, communication strategies of bank to the customers etc. 2.1 CUSTOMER RELATIONSIP MANAGEMENT Existing research states that ‘relationships are the base to the successful development and edition of new business viewpoint, though business have taken care of relationships with their customers for many centuries (Gronroos, 1994). Sheth and Parvathiyar, (1995) said that relationships demand much more than mere transactions. Rather, they symbolize strategic and tactical issues based on a new philosophical move that geared in the direction of long-term organisation survival. According to Storbacka, (1994) relationship marketing got popular in 1990s but it has a long history under different names. In its starting, one-to-one marketing appeared in the mid 1990s, which transformed into Customer Relationship Management. Parvatiyar and Sheth gave a static definition of CRM. â€Å"Customer Relationship Management is a comprehensive strategy and process of acquiring, retaining and partnering with selective customers to create superior value for the company and the customer† (Parvatiyar and Sheth 2000, p.6) â€Å"What criteria determine who â€Å"How can we acquire this customer will be our most profitable in the most efficient and effective customers?† way?† â€Å"How can we increase the â€Å"How can we keep this customer loyalty and the profitability for as long as possible?† Of this customer?† 2.2 THE HISTORY AND GOALS OF AN INTEGRATED BANKING CRM According to Puccinelli (1999) the financial services industry as entering a new era where personal attention is decreasing because the institutions are using technology to replace human contact in many application areas. Sherif, 2002 advocated that, now global changes brought new trends, directions and new ways of doing business, which also brought new challenges and opportunities to financial institutions. In order to complete with newly increasing competitive pressures, financial institutions must recognize the need of balancing their performance by achieving their strategic goals and meeting continues volatile customer needs requirements. Different ways must be analyzed to meet customer needs. Foss said that banks are highly focusing on CRM for the last five years that is expected to continue. According to Peter (1998) and Chablo (1999) the main goals of an effective integrated CRM solution in the banking sector are to enable financial institutes to; a) Widen customer relationship through acquiring new customers, identifying and targeting new segments and expanding in new markets. b) Lengthen the existing relationship developing longer term relationships, increasing perceived value of products and introducing new products and c) Deepen the relationship with customers initiating the cross selling and up selling opportunities, understanding the propensity of different customer segments to purchase and increase sales. The implementation if CRM system in a bank helps the business organisation to obtain a complete picture of their existing customers, design both customer-oriented and market-driven financial products and services, as well as implement extensive and reliable financial marketing research and efficient campaigns, to achieve and enhance customer loyalty and profitability. The above goals can be achieved through the seamless integration of information technology solutions and business objectives at every process of the bank business that affects the customer. 2.3 THE PHASES OF CRM The main phases of CRM are as follows; 1. Customer selection or Segmentation According to Dave Chaffey (2009), customer selection defining the types of customers that a company will market to. It means identifying different groups of customers for which to develop offerings and to target during acquisition, retention and extension. Different ways of segmenting customers by value and by their detailed lifecycle with the customer are reviewed. Many companies are now only proactively marketing to favoured customers. Seth Godin (1999), says â€Å"Focus on share of customer, not market share fire 70 per cent customers and watch your profits go up!† According to Efraim Turban (2008), the most sophisticated segmentation and targeting schemes for extension of customers are often used by banks, which have full customer information and acquire history data as they search for to boost Customer Lifetime Value (CLV) through encouraging increased use of products overtime. The segmentation approach used by banks is based on five main basics which in result are covered on top of each other. The amount of options used, and therefore the complexity of approach, will depend on resources obtainable, opportunities, capabilities and technology afforded by catalog. i. Identify customer lifecycle groups When guests use online services then they basically pass those seven or more stages. The organisations have clear these segments and establish the CRM infrastructure to categories customers in this manner; then they deliver focused messages, whichever by modified web messaging or by e-mails that are triggered routinely because of various rules. First-time guests recognized by a cookie placed on their PC. When guests registered, they are tracked through the residual stages. The customers who have purchased one or more products are one particular important group. The key challenge is for a company to encourage a customer to shift from the first product to the second and then go on. Explicit offers can be try to push customer for further products. In the same way, when customers turn into an inactive then the customer required follow-up. ii. Identify customer profit characteristics This is a conventional segmentation which is based on the nature of customer. For Business 2 Business Companies it includes sex, age and geography. It includes volume of the organisation and the type of sector or application, the organisation operates in. iii. Identify behaviour in response and purchase As shown in 2.2 through analysis of data base when customer progress through the lifecycle, company is capable to build up a detail reaction and buy history which judges the details of frequency, recency, group of product buy and monetary value. This approach is known as ‘RFM (Recency, Frequency, Monetary value) analysis. iv. Identify multi-channel behaviour In spite of of the eagerness of the company for online channels, various customers are chosen for using online channels and others customers are chosen conventional channels. This is, to an extent, be indicated by RFM and response examination since customers with a preference for an online channel is more reactive and make more use online. Customer who likes online channels is focused mostly by online communications such as e-mail, but when customer like conventional channels is focused by conventional communications such as direct mail or phone. This is known as ‘right-channelling. v. Tone and style preference In a same way to channel liking, customers are respond in their own way to various types of message. Some customers like rational application, in that time a detailed e-mail may work best. On the other hand some customers are preferred an emotional appeal. Companies are test for this in customers or conclude it using profit description and response performance and then expand various inventive treatments consequently. 2. Customer acquisition Processes used to add new customer. According to Turban (2008), customer acquisition refers to marketing activities intended to form relationship with new customers while reducing acquisition cost and targeting high-value customers. Service value and selecting the right path for various customers are essential at this stage and during the lifecycle. The conventional manner to customer acquisition include a marketing manager developing a blend of mass marketing (billboards, magazine advertisements etc.) and direct marketing (mail, telephone, etc.) campaigns based on their knowledge of the particular customer base that was being focussed. Marketing campaign trying to pressure new customers to buy a particular type of diapers, the mass marketing ads might be determined in parenting magazines. The advertisements could also be positioned in more conventional publications whose readership demographics were alike to those of new parents. Customer acquisition is comparatively similar to mass marketing. A marketing manager selects the demographics that they are involved in and after that works with a data vendor to obtain lists of buyers who meet those features. The data vendors have large database holding millions of eventual customers that can be segment based on explicit demographic criteria. The idea of â€Å"similar demographics† has conventionally been an art rather than a science. Usually there are not hard-and-fast systems about whether two groups of buyers share the similar features. Most of the segmentation that took place in conventional direct marketing involves hunches on the division of the marketing professional. 3. Customer retention Dafe Chaffey 2009 said that customer retention refers to the marketing actions taken by a company to keep its current customers. Identifying applicable offerings based on their personal needs and complete position in the customer lifecycle (e.g. purchase value or number) is key. Customer retention strategy aims to keep a high percentage of valuable customers and a customer development strategy aims to boost the value of those retained customer to the organisation. Customer retention is based on customer loyalty. And customer loyalty is the point to which a customer will continue with a specific brand or vendor. Customer acquisition to retain and extend create long-term customer relationship. We need to calculate customer satisfaction, as satisfaction drives loyalty and loyalty drives profitability. This relationship is exposed below; The marketers aim is to push customers up the curve towards the affection zone. But the majority are not in that zone. Marketers must understand to achieve retention,why customers defers or are indifferent. 4. Customer extension This technique is encouraging customers to increase their involvement with a company. According to Turban 2008, customer extension is increasing the range of products that a customer buys from an organisation. Sometime it is referred ‘customer development. Increasing the lifetime value (CLV) of a customer is the main objective of customer extension by encouraging cross-sell. For example a customer of Egg credit card may be offered the loan or a deposit account. There are many of customer extension technique for CRM as follows; Re-sell: same type of products to existing customers-particular vital in some Business 2 Business background as re-buys or modified re-buys. Cross-sell: sell extra products which may be closely related to the original buy. Up-sell: this is mean, selling more expensive products. Reactivation: Customers who have purchased for some time or have lapsed can be encouraged to buy again. Referrals: generating sells from recommendation from existing customers. 2.4 CUSTOMER LIFETIME VALUE MODELLING Customer Lifetime Value (CLV) is also an important theory and practise of CRM. But the calculation of CLV is not straightforward. There are so many company, they do not calculate it. According to Dave Chaffey (2009) â€Å"Lifetime value is the total net benefits that a customer or group of customers will provide a company over their total relationship with the company†. CLV is based on estimating the income and costs related with each customer over a phase of time and then calculating the net present value in present monetary terms using a discount rate value applied over the stage. Efraim Turban (2006) said there is various scale of complexity in calculating LTC. Those are exposed in 2.6. Option 1 is a realistic way or estimated proxy for future LTV, but the true LTV is the future value of the customer at individual level. CLV modelling at a segment level 4 is crucial within marketing since it answers the question; How much can I afford to invest in acquiring a new customer? Lifetime value analysis helps marketers to: Create the true value of a companys customer base Recognize and compare crucial target segment Calculate the effectiveness of another customer retention strategy Plan and calculate investment in customer acquisition programmes Make decisions about product and offers 2.7 gives an example of how LTV can be used to develop a CRM strategy for different customer groups. There are 4 (four) main types of customers are indicated by their present and future value as bronze, silver, gold and platinum. Separate customers groupings (circles) are recognized according to their current value (as indicated by current profitability) and future value as indicated by CLV calculation. Every group will have a customer segmentation based on their demographics. Therefore this is used for customer selection. Within the four main value groupings, there are various strategies are developed for various customer groups. Few bronze customers such as group A and B practically do not have development potential and are usually unprofitable, therefore the objective is to reduce costs in communications and if they do not stay as customers this is acceptable. Some bronze customers like group C may have potential for growth; therefore for group C the strategy is to extend their purchases. Silver customers are focused with customer extension offer and gold customers are extended. Platinum customers are the best customers; therefore the communication is very important with these customers. 2.5 THE TECHNOLOGICAL FACTORS OF CRM According to Davenport and Short, (1990); Porter, (1987) ‘information technology is an enabler to thoroughly redesign business process to achieve improvements in organisational performance. ‘Information Technology help helps a business process by facilitating changes to job practices and establishing new techniques to link a customer with organisations, suppliers and stakeholders (Hammer and Champy, 1993). Eckerson and Watson (2000) advocated that ‘CRM take full advantage of technology to collect and analyze data on customer patters, expand predictive models, interpret customer behaviour, proper respond with communications, and deliver product and service to individual customers. By using technology a company can create a 360 degree view of customers to find out from past interactions to optimize future ones. Peppard (2000) said that ‘the leading factors in CRM development is improvement in network infrastructure, client/server computing, and business intelligence applications. CRM collect, store, maintain and distribute customer knowledge all over the organisation. The effectual management of information has a vital role to play in CRM. In the case of calculating customer lifetime value, consolidated view, product tailoring and service innovation, the information is essential. Along with data warehouses, enterprise resource planning (ERP) system and the internet are the central infrastructures to CRM applications. Fickel (1999) said ‘CRM applications link front office (e.g. marketing, sales and customer service) and back office (e.g. financial, logistics, operations and human resources) functions with the companys customer touch point. A companys touch point is â€Å"all of the communication, human and physical interactions your customers experience during their relationship lifecycle with your organisation. Whether an ad, Web site, sales person, store or office, touch points are important because customers from perceptions of your organisation and brand based on their cumulative experiences† (Source; http://www.imediaconnection.com/content/4508.imc at 16/10/2009 on 15:25) According to Eckerson and Watson (2000), ‘CRM integrated touch points is something like a common view of the customer. A separate information systems controlled these touch points. 2.8 demonstrates the relationship between customer touch point with back and front office operations Peppers and Rogres, (1999) said ‘In many companies, CRM is just a technology solution that extends divide databases and sales force automation tools to link sales and marketing functions in order to develop targeting efforts. On the other hand some organisations consider CRM as a tool that is exclusively designed for one-to-one relationship. According to Goldenberg (2000) ‘CRM is not just a technology applications for sales, marketing and service, but when CRM fully and successfully implemented, customer-driven, a cross-functional, technology-integrated business process management strategy that improves relationships and encompasses the whole organisation. 2.6 DATA WAREHOUSE TECHNOLOGY According to Watson (2000) ‘data warehouse is a tools of information technology management that helps business decision makers to instant access of information of customer data throughout the organisation by combining all database and operational systems like sales and transaction, human resource, inventory, purchasing, financial and marketing system. Data warehouse pull out, clean, convert and manage large volumes of data from various systems and creating a historical record of all customer. Data warehousing technology is the most crucial part of CRM because it makes CRM possible. Shepard et al. (1998) said ‘a better understanding of customer behaviour is possible because data warehousing technology consolidates correlates and convert customer data into customer intelligence. Understanding of customers and their purchase patterns can improve information related to customer service interactions, billing and account status, back orders, product returns, product shipment, and internal operating cost. The capacity of a data warehouse to store hundreds and thousands of gigabytes of data make an analysis feasible as well as immediate. Organisational benefits with a data warehouse are as follows; exact and faster access of information bad and duplicate data eliminate by quality data and filtering customer profiling and retention modelling it calculate total present value and estimate future value of every customer it gives detail report 2.7 DATA MINING TECHNOLOGY Peppers and Rogres, (1999) said that ‘the first analytical step of data mining is to describe the data. Data mining summarize its statistical attributes like standard deviations and means, visually review it by use of charts and graphs and distributes the value of the field in our data. But alone data description can not provide an action plan. We have to build a predictive model based on patterns determined from known results and after that we have to test the model on result outside the original sample. An ideal model should never be confused with reality, but it is useful guide to understanding our businesses. According to Eckerson and Watson (2000) ‘we can use data mining for both classification and regression problems. In first problem we can predict what type something will fall into. In second problems we are predicting a number like probability that a person will respond to an offer. In CRM process, data mining is often used to allocate a score to a particular customer. Data mining is also often using to recognize a set of characteristics, which is called profile. Data mining segments customers in to groups with similar behaviour like purchasing a particular product. 2.8 THE CRM PROCESS CYCLE IN BANKS Pound (2000) said that exploration and alteration process should be done by the banks on basis of customer information captured; this shows the full value of CRM initiatives. Banks set up a closed CRM cycle with the help of an integrated CRM solution, which composed of a set of continuous iterative process. It manages the whole customer related process for bank, analysing customer profile, customer data and life time value, which is helping to making marketing decision and optimizing the execution of marketing campaigns, customer service strategies and sales strategies across various channels during the bank. According to Professor Constantin Zopounidis (2002) CRM process cycle is based on a generic business view. It presents a continuous improvement of value between customers and banks across touch points. The main stages are as follows; Customer data collection Customer data analysis Marketing strategy and action programs Back-office Data External Data Touch-Point Data Pound 2000 said that ‘recent banking data sources are extremely heterogeneous. Geographic information is dispersed due to continual acquisitions, mergers and reorganizations. For example a bank might use web site, ATMs, e-mail, sales, call centres and marketing automation applications that must be integrated in a unified environment of CRM banking. An effective multi-channels customer interface will not be possible without a centrally integrated warehouse driving the entire CRM process cycle. This should be update real time. The historical data should be recorded by it, which is used to create propensity models and customer life time value models to recognize past behaviour and action in order to take future marketing strategy. 2.9 CUSTOMER DATA COLLECTION Kristin Anderson Carol Kerr (2002), said that in banking transaction system data such as (e.g. Checking, Credit, Savings) are frequently organised around accounts, channels, products and other alike transactional concepts. This limits the bank ability on identifying the total relationship and unique customers. An Integrated CRM is a major goal it consolidates these â€Å"information islands† and separate solution, which forms an open cross-bank system from all executives, business area department officers and branch employees, shares the identical customer information. Integrated banking CRM structure can be obtained from this necessary basis of data supply. Operation (contact) sources: Chou, Chou 2000, said the customer communication touch-point (ATM, Branch, Call-Centre, Internet-Banking, Mobile banking, personal contact, etc.) Internal sources: Professor Constantion Zopounidis (2000) said internal sources that are the available information island, data bases and product oriented systems from other banks such as (Cards, Deposits, Investments, and loans etc.), Marketing campaign response, meta-data analysis and reliable data mining results. External Sources: Professor Constanin Zopounidis 2002, said marketing researches that of external sources, infomediaries etc. Providing geo-demographic, psycho-graphic data and lifestyle, these can help to improve customer images 2.11 CUSTOMER DATA ANALYSIS Heygate (1998), said Simple and sophisticated data analysis techniques are required for deriving the valuable customer insight from the data collected in a central customer warehouse. More advance data analytics includes OLAP (Online Analytical Processing) mining techniques and tools, these extracts applicable patterns or trends in the data. According to Lawer (2000), key incorporated customer management insights provided by customer data analysis are customer segmentation/differentiation, concentration and distribution of customers value; share of purchases/profits, analysis of strategies that widen/lengthen/deepen customer relationship. Hawkes 2000, advocated customer data analysis enables the recognition of customers profit and customers preferences for definite bank product and services, indicates the most suitable channels to reach the customers, and assesses the profitability and life time value of every personality. Additionally, Delto 1998 said that the future manners of the consumers can be predicted by analysing their past behaviour. Customer statistics, profit and segmentation are the main amount produced of the analysis stage feeding the marketing strategy planning and completing process. Having easily accessible information to marketing makes the difference between a winning campaign and a failure. 2.12 MARKETING STRATEGY AND PROGRAMES Kristin Anderson and Carol Kerr 2002 advocated captured results and data of customer analysis support marketers to route marketing messages, processes and strategies. True values of data of Lloyd TSB are discovered by tools and process for marketing decision making, marketing decision making and CRM initiatives and campaign are deployed from converted information to customer knowledge. Goal of marketing automation within CRM are which personalise and optimizes each customer contact from planning, execution, monitoring marketing strategies and action programmes. Bryan Foss 2003 said it is critical for bank CRM not only to extract their data source to uncover patterns and insight but also to operationalise the system through the bank performance to turn the customer knowledge into importance creating achievement. Merlin Stone 2003 advocated the grades from advertising and CRM activities and strategies continue the process knowledge acquisition enhancing the on-going assessment of marketing data intelligence, closing the feed-back loop. Hence, the final element of CRM process cycle is the valuation of the results of campaign driven by marketing data intelligence. It is crucial to measure performance and feed result back into the centre customer data warehouse, in order to convey Customer Relationship Management of Lloyds Banking Customer Relationship Management of Lloyds Banking 1.0 INTRODUCTION This chapter provides the brief introduction of research. Furthermore, it also discusses the aims, objectives of the research questions and scope of the study. 1.1 TOPIC OF THE RESEARCH Customer Relationship Management of Lloyds Banking Group PLC; A Critical Evaluation 1.2 INTRODUCTION TO RESEARCH Peter Drucker said, â€Å"The purpose of a business is to create customers†. Customer Relationship Management can be the single strongest weapon we have as manage to ensure that customers become and remain loyal. Customer Relationship Management, or CRM, is an essential part of modern business management. CRM concerns the relation between the organisation and its customers. Customers are the lifeblood of any company be it a global corporation with thousands of employees and a multi-billion turnover, or a sole trader with a handful of regular customers. CRM is the same in principle for both examples. Globalization and technology improvements have pushed companies into hard competition. In this new era organisations are targeting on managing customer relationships, mainly customer satisfaction, in order to maximize revenues (Constantinos 2003). Today, marketing is not just developing, delivering and selling; it is shifting towards developing and maintaining equally long term relationships with customers (Buttle, 1996). This new business values is called relationship marketing (RM), which has involved significant interest both from marketing academics and practitioners (Gronroos, 1994). The Greek philosopher, Epictetus said that â€Å"what concern me is not the way things are, but rather the way people think things are† (Szwarch, 2005, p.3). The concepts of consumer satisfaction were depending on the thinking of consumer. Research suggests that customer satisfaction, basic concept of relationship marketing, is important in achieving and retaining competitive advantage. Research studies have discovered that retaining current customers is much less expensive than attracting new customers (Desatnick, 1988; Stone et al., 1996; Bitran and Mondschein, 1997; Chattopadhyay, 2001; Massey et al., 2001). The best way to retain customers is to keep them satisfied, a number of studies have shown that customer satisfaction can guide to brand loyalty, repurchases intention and repeat sales (Day, 1984; Swan and Oliver, 1989; Oliver, 1999). Customer retention, in turn, seems to be related to profitability (Oliver, 1999). Relationship marketing is becoming significant in financial services (Zineldin, 1995). If a bank develops and sustains a solid relationship with its customers, its competitors cannot easily replace them and so this relationship provides for a continued competitive advantage (Gilbert, 2003). Moriarty et al. (1983) has suggested relationship concept in the banking sector which states that banks can increase their profits by maximising the profitability of the total customer relationship over time, instead of looking for to get more profit from any single transaction. Perrien et al. (1992) observed severe competitive pressures that forces financial institution to restructure their marketing strategies by developing into long-term relationship with customers. And banking industry purely related to financial services, which needs to create the trust among the people. This research is exploratory in nature and design. The data which is collected is going to be mostly primary data collected from the relevant persons within the bank. The data has gathered from the face to face interviews with the help of structured and semi-structured questionnaire with those persons. The above describe interviews has last 40 (fourty) to 45 (fourty five) minutes (approx). On the other hand the researcher has decided to collect primary data from random interviews of Lloyds Banking Groups customers. Sample size is around 200 customers and of structured questionnaire. But of course this research paper has relied on reviewing the various secondary data available from various researches such as books, magazines, website, previous research and publication etc. The collected data has been analysed by graphs, table and pi chart drawn from Microsoft excel. 1.3 AIM OF THE RESEARCH The aim of the research is to study why CRM is important in bank, how the CRM works in banks and also the effectiveness of Lloyds Banking Group in obtaining long term customer relationship, customer loyalty, and customer satisfaction by the use of CRM. And also suggest feasible recommendations to Lloyds Banking Group to increase the customer satisfaction and market share by the effective use of CRM. 1.4 OBJECTIVES OF THE RESEARCH The followings are the objectives of this research; To study how critically practised in Lloyds Banking Group Analysis the data mining process of Lloyds Banking Group To find out how the bank segments their customers To analysis how the bank retaining their customers To find out how does the bank measure customer Life Time Value To verify the relationship between the customers and the Lloyds Banking Group 1.5 SCOPE OF THE STUDY The scope of the study and research work has limited to Lloyds Banking Group only. This chosen level of aspects has stayed at large in the study so that it can be studied well and analyzed thoroughly to get a deeper understanding. Trying to cover too much ground may lead to a very superficial and confused analysis and may involve long time duration to complete the project work or report. Therefore a specified and narrow down approach with Lloyds Banking Group and an evaluation of its success has comprised with the researc 2.0 LITERATURE REVIEW This chapter contains a review of literature relevant to the research. This literature review deals with, about CRM, the history and goals of an integrated banking CRM, the technological factor of CRM, the process cycle in banks, data warehouse technology, data mining process, how to analysis the data, customer segmentation process, communication strategies of bank to the customers etc. 2.1 CUSTOMER RELATIONSIP MANAGEMENT Existing research states that ‘relationships are the base to the successful development and edition of new business viewpoint, though business have taken care of relationships with their customers for many centuries (Gronroos, 1994). Sheth and Parvathiyar, (1995) said that relationships demand much more than mere transactions. Rather, they symbolize strategic and tactical issues based on a new philosophical move that geared in the direction of long-term organisation survival. According to Storbacka, (1994) relationship marketing got popular in 1990s but it has a long history under different names. In its starting, one-to-one marketing appeared in the mid 1990s, which transformed into Customer Relationship Management. Parvatiyar and Sheth gave a static definition of CRM. â€Å"Customer Relationship Management is a comprehensive strategy and process of acquiring, retaining and partnering with selective customers to create superior value for the company and the customer† (Parvatiyar and Sheth 2000, p.6) â€Å"What criteria determine who â€Å"How can we acquire this customer will be our most profitable in the most efficient and effective customers?† way?† â€Å"How can we increase the â€Å"How can we keep this customer loyalty and the profitability for as long as possible?† Of this customer?† 2.2 THE HISTORY AND GOALS OF AN INTEGRATED BANKING CRM According to Puccinelli (1999) the financial services industry as entering a new era where personal attention is decreasing because the institutions are using technology to replace human contact in many application areas. Sherif, 2002 advocated that, now global changes brought new trends, directions and new ways of doing business, which also brought new challenges and opportunities to financial institutions. In order to complete with newly increasing competitive pressures, financial institutions must recognize the need of balancing their performance by achieving their strategic goals and meeting continues volatile customer needs requirements. Different ways must be analyzed to meet customer needs. Foss said that banks are highly focusing on CRM for the last five years that is expected to continue. According to Peter (1998) and Chablo (1999) the main goals of an effective integrated CRM solution in the banking sector are to enable financial institutes to; a) Widen customer relationship through acquiring new customers, identifying and targeting new segments and expanding in new markets. b) Lengthen the existing relationship developing longer term relationships, increasing perceived value of products and introducing new products and c) Deepen the relationship with customers initiating the cross selling and up selling opportunities, understanding the propensity of different customer segments to purchase and increase sales. The implementation if CRM system in a bank helps the business organisation to obtain a complete picture of their existing customers, design both customer-oriented and market-driven financial products and services, as well as implement extensive and reliable financial marketing research and efficient campaigns, to achieve and enhance customer loyalty and profitability. The above goals can be achieved through the seamless integration of information technology solutions and business objectives at every process of the bank business that affects the customer. 2.3 THE PHASES OF CRM The main phases of CRM are as follows; 1. Customer selection or Segmentation According to Dave Chaffey (2009), customer selection defining the types of customers that a company will market to. It means identifying different groups of customers for which to develop offerings and to target during acquisition, retention and extension. Different ways of segmenting customers by value and by their detailed lifecycle with the customer are reviewed. Many companies are now only proactively marketing to favoured customers. Seth Godin (1999), says â€Å"Focus on share of customer, not market share fire 70 per cent customers and watch your profits go up!† According to Efraim Turban (2008), the most sophisticated segmentation and targeting schemes for extension of customers are often used by banks, which have full customer information and acquire history data as they search for to boost Customer Lifetime Value (CLV) through encouraging increased use of products overtime. The segmentation approach used by banks is based on five main basics which in result are covered on top of each other. The amount of options used, and therefore the complexity of approach, will depend on resources obtainable, opportunities, capabilities and technology afforded by catalog. i. Identify customer lifecycle groups When guests use online services then they basically pass those seven or more stages. The organisations have clear these segments and establish the CRM infrastructure to categories customers in this manner; then they deliver focused messages, whichever by modified web messaging or by e-mails that are triggered routinely because of various rules. First-time guests recognized by a cookie placed on their PC. When guests registered, they are tracked through the residual stages. The customers who have purchased one or more products are one particular important group. The key challenge is for a company to encourage a customer to shift from the first product to the second and then go on. Explicit offers can be try to push customer for further products. In the same way, when customers turn into an inactive then the customer required follow-up. ii. Identify customer profit characteristics This is a conventional segmentation which is based on the nature of customer. For Business 2 Business Companies it includes sex, age and geography. It includes volume of the organisation and the type of sector or application, the organisation operates in. iii. Identify behaviour in response and purchase As shown in 2.2 through analysis of data base when customer progress through the lifecycle, company is capable to build up a detail reaction and buy history which judges the details of frequency, recency, group of product buy and monetary value. This approach is known as ‘RFM (Recency, Frequency, Monetary value) analysis. iv. Identify multi-channel behaviour In spite of of the eagerness of the company for online channels, various customers are chosen for using online channels and others customers are chosen conventional channels. This is, to an extent, be indicated by RFM and response examination since customers with a preference for an online channel is more reactive and make more use online. Customer who likes online channels is focused mostly by online communications such as e-mail, but when customer like conventional channels is focused by conventional communications such as direct mail or phone. This is known as ‘right-channelling. v. Tone and style preference In a same way to channel liking, customers are respond in their own way to various types of message. Some customers like rational application, in that time a detailed e-mail may work best. On the other hand some customers are preferred an emotional appeal. Companies are test for this in customers or conclude it using profit description and response performance and then expand various inventive treatments consequently. 2. Customer acquisition Processes used to add new customer. According to Turban (2008), customer acquisition refers to marketing activities intended to form relationship with new customers while reducing acquisition cost and targeting high-value customers. Service value and selecting the right path for various customers are essential at this stage and during the lifecycle. The conventional manner to customer acquisition include a marketing manager developing a blend of mass marketing (billboards, magazine advertisements etc.) and direct marketing (mail, telephone, etc.) campaigns based on their knowledge of the particular customer base that was being focussed. Marketing campaign trying to pressure new customers to buy a particular type of diapers, the mass marketing ads might be determined in parenting magazines. The advertisements could also be positioned in more conventional publications whose readership demographics were alike to those of new parents. Customer acquisition is comparatively similar to mass marketing. A marketing manager selects the demographics that they are involved in and after that works with a data vendor to obtain lists of buyers who meet those features. The data vendors have large database holding millions of eventual customers that can be segment based on explicit demographic criteria. The idea of â€Å"similar demographics† has conventionally been an art rather than a science. Usually there are not hard-and-fast systems about whether two groups of buyers share the similar features. Most of the segmentation that took place in conventional direct marketing involves hunches on the division of the marketing professional. 3. Customer retention Dafe Chaffey 2009 said that customer retention refers to the marketing actions taken by a company to keep its current customers. Identifying applicable offerings based on their personal needs and complete position in the customer lifecycle (e.g. purchase value or number) is key. Customer retention strategy aims to keep a high percentage of valuable customers and a customer development strategy aims to boost the value of those retained customer to the organisation. Customer retention is based on customer loyalty. And customer loyalty is the point to which a customer will continue with a specific brand or vendor. Customer acquisition to retain and extend create long-term customer relationship. We need to calculate customer satisfaction, as satisfaction drives loyalty and loyalty drives profitability. This relationship is exposed below; The marketers aim is to push customers up the curve towards the affection zone. But the majority are not in that zone. Marketers must understand to achieve retention,why customers defers or are indifferent. 4. Customer extension This technique is encouraging customers to increase their involvement with a company. According to Turban 2008, customer extension is increasing the range of products that a customer buys from an organisation. Sometime it is referred ‘customer development. Increasing the lifetime value (CLV) of a customer is the main objective of customer extension by encouraging cross-sell. For example a customer of Egg credit card may be offered the loan or a deposit account. There are many of customer extension technique for CRM as follows; Re-sell: same type of products to existing customers-particular vital in some Business 2 Business background as re-buys or modified re-buys. Cross-sell: sell extra products which may be closely related to the original buy. Up-sell: this is mean, selling more expensive products. Reactivation: Customers who have purchased for some time or have lapsed can be encouraged to buy again. Referrals: generating sells from recommendation from existing customers. 2.4 CUSTOMER LIFETIME VALUE MODELLING Customer Lifetime Value (CLV) is also an important theory and practise of CRM. But the calculation of CLV is not straightforward. There are so many company, they do not calculate it. According to Dave Chaffey (2009) â€Å"Lifetime value is the total net benefits that a customer or group of customers will provide a company over their total relationship with the company†. CLV is based on estimating the income and costs related with each customer over a phase of time and then calculating the net present value in present monetary terms using a discount rate value applied over the stage. Efraim Turban (2006) said there is various scale of complexity in calculating LTC. Those are exposed in 2.6. Option 1 is a realistic way or estimated proxy for future LTV, but the true LTV is the future value of the customer at individual level. CLV modelling at a segment level 4 is crucial within marketing since it answers the question; How much can I afford to invest in acquiring a new customer? Lifetime value analysis helps marketers to: Create the true value of a companys customer base Recognize and compare crucial target segment Calculate the effectiveness of another customer retention strategy Plan and calculate investment in customer acquisition programmes Make decisions about product and offers 2.7 gives an example of how LTV can be used to develop a CRM strategy for different customer groups. There are 4 (four) main types of customers are indicated by their present and future value as bronze, silver, gold and platinum. Separate customers groupings (circles) are recognized according to their current value (as indicated by current profitability) and future value as indicated by CLV calculation. Every group will have a customer segmentation based on their demographics. Therefore this is used for customer selection. Within the four main value groupings, there are various strategies are developed for various customer groups. Few bronze customers such as group A and B practically do not have development potential and are usually unprofitable, therefore the objective is to reduce costs in communications and if they do not stay as customers this is acceptable. Some bronze customers like group C may have potential for growth; therefore for group C the strategy is to extend their purchases. Silver customers are focused with customer extension offer and gold customers are extended. Platinum customers are the best customers; therefore the communication is very important with these customers. 2.5 THE TECHNOLOGICAL FACTORS OF CRM According to Davenport and Short, (1990); Porter, (1987) ‘information technology is an enabler to thoroughly redesign business process to achieve improvements in organisational performance. ‘Information Technology help helps a business process by facilitating changes to job practices and establishing new techniques to link a customer with organisations, suppliers and stakeholders (Hammer and Champy, 1993). Eckerson and Watson (2000) advocated that ‘CRM take full advantage of technology to collect and analyze data on customer patters, expand predictive models, interpret customer behaviour, proper respond with communications, and deliver product and service to individual customers. By using technology a company can create a 360 degree view of customers to find out from past interactions to optimize future ones. Peppard (2000) said that ‘the leading factors in CRM development is improvement in network infrastructure, client/server computing, and business intelligence applications. CRM collect, store, maintain and distribute customer knowledge all over the organisation. The effectual management of information has a vital role to play in CRM. In the case of calculating customer lifetime value, consolidated view, product tailoring and service innovation, the information is essential. Along with data warehouses, enterprise resource planning (ERP) system and the internet are the central infrastructures to CRM applications. Fickel (1999) said ‘CRM applications link front office (e.g. marketing, sales and customer service) and back office (e.g. financial, logistics, operations and human resources) functions with the companys customer touch point. A companys touch point is â€Å"all of the communication, human and physical interactions your customers experience during their relationship lifecycle with your organisation. Whether an ad, Web site, sales person, store or office, touch points are important because customers from perceptions of your organisation and brand based on their cumulative experiences† (Source; http://www.imediaconnection.com/content/4508.imc at 16/10/2009 on 15:25) According to Eckerson and Watson (2000), ‘CRM integrated touch points is something like a common view of the customer. A separate information systems controlled these touch points. 2.8 demonstrates the relationship between customer touch point with back and front office operations Peppers and Rogres, (1999) said ‘In many companies, CRM is just a technology solution that extends divide databases and sales force automation tools to link sales and marketing functions in order to develop targeting efforts. On the other hand some organisations consider CRM as a tool that is exclusively designed for one-to-one relationship. According to Goldenberg (2000) ‘CRM is not just a technology applications for sales, marketing and service, but when CRM fully and successfully implemented, customer-driven, a cross-functional, technology-integrated business process management strategy that improves relationships and encompasses the whole organisation. 2.6 DATA WAREHOUSE TECHNOLOGY According to Watson (2000) ‘data warehouse is a tools of information technology management that helps business decision makers to instant access of information of customer data throughout the organisation by combining all database and operational systems like sales and transaction, human resource, inventory, purchasing, financial and marketing system. Data warehouse pull out, clean, convert and manage large volumes of data from various systems and creating a historical record of all customer. Data warehousing technology is the most crucial part of CRM because it makes CRM possible. Shepard et al. (1998) said ‘a better understanding of customer behaviour is possible because data warehousing technology consolidates correlates and convert customer data into customer intelligence. Understanding of customers and their purchase patterns can improve information related to customer service interactions, billing and account status, back orders, product returns, product shipment, and internal operating cost. The capacity of a data warehouse to store hundreds and thousands of gigabytes of data make an analysis feasible as well as immediate. Organisational benefits with a data warehouse are as follows; exact and faster access of information bad and duplicate data eliminate by quality data and filtering customer profiling and retention modelling it calculate total present value and estimate future value of every customer it gives detail report 2.7 DATA MINING TECHNOLOGY Peppers and Rogres, (1999) said that ‘the first analytical step of data mining is to describe the data. Data mining summarize its statistical attributes like standard deviations and means, visually review it by use of charts and graphs and distributes the value of the field in our data. But alone data description can not provide an action plan. We have to build a predictive model based on patterns determined from known results and after that we have to test the model on result outside the original sample. An ideal model should never be confused with reality, but it is useful guide to understanding our businesses. According to Eckerson and Watson (2000) ‘we can use data mining for both classification and regression problems. In first problem we can predict what type something will fall into. In second problems we are predicting a number like probability that a person will respond to an offer. In CRM process, data mining is often used to allocate a score to a particular customer. Data mining is also often using to recognize a set of characteristics, which is called profile. Data mining segments customers in to groups with similar behaviour like purchasing a particular product. 2.8 THE CRM PROCESS CYCLE IN BANKS Pound (2000) said that exploration and alteration process should be done by the banks on basis of customer information captured; this shows the full value of CRM initiatives. Banks set up a closed CRM cycle with the help of an integrated CRM solution, which composed of a set of continuous iterative process. It manages the whole customer related process for bank, analysing customer profile, customer data and life time value, which is helping to making marketing decision and optimizing the execution of marketing campaigns, customer service strategies and sales strategies across various channels during the bank. According to Professor Constantin Zopounidis (2002) CRM process cycle is based on a generic business view. It presents a continuous improvement of value between customers and banks across touch points. The main stages are as follows; Customer data collection Customer data analysis Marketing strategy and action programs Back-office Data External Data Touch-Point Data Pound 2000 said that ‘recent banking data sources are extremely heterogeneous. Geographic information is dispersed due to continual acquisitions, mergers and reorganizations. For example a bank might use web site, ATMs, e-mail, sales, call centres and marketing automation applications that must be integrated in a unified environment of CRM banking. An effective multi-channels customer interface will not be possible without a centrally integrated warehouse driving the entire CRM process cycle. This should be update real time. The historical data should be recorded by it, which is used to create propensity models and customer life time value models to recognize past behaviour and action in order to take future marketing strategy. 2.9 CUSTOMER DATA COLLECTION Kristin Anderson Carol Kerr (2002), said that in banking transaction system data such as (e.g. Checking, Credit, Savings) are frequently organised around accounts, channels, products and other alike transactional concepts. This limits the bank ability on identifying the total relationship and unique customers. An Integrated CRM is a major goal it consolidates these â€Å"information islands† and separate solution, which forms an open cross-bank system from all executives, business area department officers and branch employees, shares the identical customer information. Integrated banking CRM structure can be obtained from this necessary basis of data supply. Operation (contact) sources: Chou, Chou 2000, said the customer communication touch-point (ATM, Branch, Call-Centre, Internet-Banking, Mobile banking, personal contact, etc.) Internal sources: Professor Constantion Zopounidis (2000) said internal sources that are the available information island, data bases and product oriented systems from other banks such as (Cards, Deposits, Investments, and loans etc.), Marketing campaign response, meta-data analysis and reliable data mining results. External Sources: Professor Constanin Zopounidis 2002, said marketing researches that of external sources, infomediaries etc. Providing geo-demographic, psycho-graphic data and lifestyle, these can help to improve customer images 2.11 CUSTOMER DATA ANALYSIS Heygate (1998), said Simple and sophisticated data analysis techniques are required for deriving the valuable customer insight from the data collected in a central customer warehouse. More advance data analytics includes OLAP (Online Analytical Processing) mining techniques and tools, these extracts applicable patterns or trends in the data. According to Lawer (2000), key incorporated customer management insights provided by customer data analysis are customer segmentation/differentiation, concentration and distribution of customers value; share of purchases/profits, analysis of strategies that widen/lengthen/deepen customer relationship. Hawkes 2000, advocated customer data analysis enables the recognition of customers profit and customers preferences for definite bank product and services, indicates the most suitable channels to reach the customers, and assesses the profitability and life time value of every personality. Additionally, Delto 1998 said that the future manners of the consumers can be predicted by analysing their past behaviour. Customer statistics, profit and segmentation are the main amount produced of the analysis stage feeding the marketing strategy planning and completing process. Having easily accessible information to marketing makes the difference between a winning campaign and a failure. 2.12 MARKETING STRATEGY AND PROGRAMES Kristin Anderson and Carol Kerr 2002 advocated captured results and data of customer analysis support marketers to route marketing messages, processes and strategies. True values of data of Lloyd TSB are discovered by tools and process for marketing decision making, marketing decision making and CRM initiatives and campaign are deployed from converted information to customer knowledge. Goal of marketing automation within CRM are which personalise and optimizes each customer contact from planning, execution, monitoring marketing strategies and action programmes. Bryan Foss 2003 said it is critical for bank CRM not only to extract their data source to uncover patterns and insight but also to operationalise the system through the bank performance to turn the customer knowledge into importance creating achievement. Merlin Stone 2003 advocated the grades from advertising and CRM activities and strategies continue the process knowledge acquisition enhancing the on-going assessment of marketing data intelligence, closing the feed-back loop. Hence, the final element of CRM process cycle is the valuation of the results of campaign driven by marketing data intelligence. It is crucial to measure performance and feed result back into the centre customer data warehouse, in order to convey