Airline Deregulation - 1054 Words

On October 24, 1978, President Carter signed into law the Airline Deregulation Act. The purpose of the law was to effectively get the federal government out of the airline business. By allowing the airlines to compete for their customers travel dollars, was the thinking, that fares would drop and an increased number of routes would spring up. Expected Results The results of airline deregulation speak for themselves. Since the government got out of the airline business, not only has there been a drop in prices and an increase in routes, there has also been a remarkable increase in airline service and safety. Airline deregulation should be seen as the crowning jewel of a federal de-regulatory emphasis. Prices are down: Airline†¦show more content†¦But the legislation winding its way through the legislative maze that is Congress does anything but move towards increased privatization. S. 1331, sponsored by Senator John McCain (R-AZ), would make it more difficult for large carriers to offer low fares. The justification for this action it to make entry into the market easier, and therefore increase competitiveness within the industry. But while this may enable small airlines to enter markets, it essentially creates an affirmative-action program for corporations that are inefficient by reserving runway space for these airlines. The only good language in the Senate bill is that which would eliminate perimeter restrictions on Washingtons Ronald Reagan Airport. This would kill the rule that prevents flights to and from National from more than 1250 miles away. While this may just be a measure so that Congressmen wont have to drive to the out-of-town Dulles Airport in Virginia, it is a good precedent to set for other airports and the elimination of market restrictions. The House has a companion bill, H.R. 2748, which does not go as far as the Senate bill in its regulatory language. But Speaker Newt Gingrich (R-GA) has predicted that Congress will pass some airline bill this term. A senior aide for a Republican on the House Transportation and Infrastructure Committee said, I dont know if the two sides will come together this year. So the legislative status of theShow MoreRelated Airline Deregulation Essay1046 Words   |  5 Pages24, 1978, President Carter signed into law the Airline Deregulation Act. The purpose of the law was to effectively get the federal government out of the airline business. By allowing the airlines to compete for their customers travel dollars, was the thinking, that fares would drop and an increased number of routes would spring up. Expected Results The results of airline deregulation speak for themselves. Since the government got out of the airline business, not only has there been a drop in pricesRead MoreAirline Deregulation1587 Words   |  7 Pages Airline Deregulation act of 1978 Aston A Samms Embry Riddle Aeronautical University Abstract The United States Airline Deregulation Act of 1978 was a dramatic turning point in America. It was the first systematic dismantling of a comprehensive system of government control since the Supreme Court declared the National Recovery Act unconstitutional in 1935. It was also part of a broader movement that, with varying degrees of thoroughness, transformed such industries as trucking, railroads, busesRead MoreThe Deregulation Act Of The Airlines846 Words   |  4 Pagescorroboration that the real cost has not declined after the act does not relate to airlines profit. Steven A. Morrison, the chair of the Department of Economics at Northeastern University, discusses the deregulation affects in his article. Although he evaluates deregulation to be good for the consumers, he argues that the deregulation act has been detrimental to the airlines despite the increase in load factors. Deregulation has created ever-increasing competition that even after mergers, increased efficiencyRead Mor eThe Deregulation Of The Airline Industry1037 Words   |  5 Pagesput all commercial airlines under the Railway Labor Act. Since then, there was a period of 42 years under economic regulation where the government oversaw labor relations. Since deregulation, the goals of collective bargaining have not changed much, nor have the objectives of management and labor unions. (Wensveen, 2011, p. 422) The deregulation of the airline industry may have been a win for passengers, but most likely not a win for labor groups. Prior to deregulation the airline industry was highlyRead MoreDeregulation of the Airline Industry1754 Words   |  8 PagesDeregulation of the Airline Industry The airline industry has been subject of intense price competition since it was deregulated, and the result has been a number of new carriers which specialize in regional service and no-frills operations. These carriers typically purchase older aircraft and often operate outside the industry-wide computerized reservations system. In exchange for these inconveniences, passengers receive low fares relative to the industry as a whole. This research examinesRead MoreAirline Deregulation Act Of 1978 Signed1291 Words   |  6 PagesINTRODUCTION Airline deregulation was the process of removing the government imposed regulations on the entry of new airlines as well the airline fare limiting the competition and growth of the airline industry. In the United States, airline deregulation mainly refers to the Airline Deregulation Act of 1978 signed by President Carter. President Carter signed the Act, but the act was proposed initially during Nixon’s administration, and carried through Ford administration. The airlines industry wasRead MoreAirline Deregulation Act Of 1978 Signed1398 Words   |  6 PagesINTRODUCTION Airline deregulation is the process of removing the government-imposed regulations on the entry of new airlines as well the airline fare limiting the competition and growth of the airline industry. In the United States, airline deregulation mainly refers to the Airline Deregulation Act of 1978 signed by President Carter. President Carter signed the Act, but the act was proposed initially during Nixon’s presidency, and was carried out by the Ford Administration. The airline industry wasRead MoreThe Airline Deregulation Act Of 1978842 Words   |  4 Pageschanged how we live and experience the world as a result of the airline industry - we are able to settle, travel, and conduct business in places once deemed remote and inaccessible, and our world is undoubtedly more interconnected. Traveling by air has become a commonplace service, altering our perception of distance and diminishing travel time, and the industry is continuously making efforts to improve and advance. The Airline Deregulation Act of 1978 within the United States promulgated an era ofRead MoreThe Airline Deregulation Act Of 19781435 Words   |  6 Pageschanged how we live and experience the world as a result of the airline industry - we are able to settle, travel, and conduct business in places once deemed remote and inaccessible, and our world is undoubtedly more interconnected. Traveling by air has become a commonplace service, altering our perception of distance and diminishing travel time, and the industry is continuously making efforts to improve and advance. The Airline Deregulation Act of 1978 within the United States promulgated an era ofRead MoreNational Airline Market Analysis : The Airline Deregulation Act Of 19781702 Words   |  7 PagesNational Airline Market Analysis In response to this foreign competition and domestic pressures the Airline Deregulation Act of 1978 was passed. Deregulation meant the market would be generally free from government controls and operate under free-market principles. By the early 1980s new carriers flooded the market causing an initial drop in fare prices. In this new market Airlines such as Pan American and TWA suffer financially. Many of the large legacy airlines that operated successfully under

The Cultural Context and Evolution of the Telephone

The Cultural Context and Evolution of the Telephone It is common knowledge that the telephone was invented by Alexander Graham Bell in 1876 and that Bell was awarded the patent after a race (and legal battle) with Elisha Gray of the Western Electric Telegraph Company; what is less well-known is the cultural context that enabled the invention or the effect that the telephone eventually had on modern life. This paper places the invention of the telephone into context and explores the relationship between the phone, the humanities, and later forms of technology. Alexander Graham Bell worked at a school for deaf children out of Boston, MA; his invention of the telephone was funded by two parents of his students. In contrast, Bells main adversary, Elisha Gray, was the founder of Western Electric, which was a subsidiary of the Western Union telegraph company. The race between the two inventors represents a dichotomy between the provincial Bell and the big business-minded Gray. Indeed, the Western Union telegraph company was hugely influential in the western expansion of the previous decades; the telegraph enabled instantaneous long-distance communication in a way that would be expanded upon by the telephone. Although it is commonly believed that Gray filed for the patent just before Bell did, bureaucratic confusion resulted in Gray being misinformed that his patent has been filed after Bell; this lead to Gray dropping his pursuit of the invention and Bell was awarded theShow MoreRelatedHow Technology has Changed Anthropology872 Words   |  4 PagesAnthropology â€Å"Anthropology is the most humanistic of the sciences and the most scientific of the humanities† – Alfred L. Kroeber Anthropology is holistic. Humans are social beings more than anything, but with underlying psychological, biological and cultural connotations. The field of anthropology encompasses everything and anything having to do with humankind throughout history. Anthropology attempts to answer the tough questions about the human condition. What influences our actions? How has our speciesRead MoreEfficient Business Communications in Companies Today Means Full Use of Social Media and Modern Technologies1411 Words   |  6 PagesThat’s why efficient business communication is important nowadays. To be successful, businesses need to develop efficient ways of communications around the world. Technologies and their advantages Technology seems to be in a state of constant evolution. New technologies are being developed all the time, and the impact this has had on the world of business communication is immeasurable. In spite of that speaking to someone in person is the best method of business communication, technology has allowedRead MoreComputer Fraud And Abuse Act ( Cfaa ) And Cyberbullying Essay1665 Words   |  7 Pagesis illegal. Second, the statute does not give minimal objective criteria to assist law enforcement agencies in its application. Part II of this paper will discuss the cultural and legal definitions of cyberbullying and briefly touch upon why it has become a pervasive problem. Part III of this paper will focus on the evolution of the CFAA, its legislative history, and how courts are applying it. Part IV will focus on why and how the CFAA was applied in United States v. Drew and address the prosRead MoreThe Success Of The Training Program1606 Words   |  7 Pagesof the training programs and the extent to which it will impact the organization relies on some internal elements like culture. As Alvesson (2013, pg.1) states, ‘how people think, feel, value and act is guided by ideas, meanings and beliefs of a cultural (socially shared) nature’ and can have a direct impact on the individuals and the organizations’ performance and goals. Noticeably, organizational culture can have an influence on the effectiveness or ineffectiveness of a training and developmentRead MoreBenchmarking1075 Words   |  5 PagesChapter 1 – Mass Communications: A Critical Approach Culture and the Evolution of Mass Communication * Culture * can be narrowly associated with art – forms of expression such as music or painting that provide enlightenment or insight * can also be viewed as a broader category that includes the entire spectrum of ways that people express themselves at particular historical times * including art, beliefs, customs, games, technologies, traditions, and institutions Read MoreApush Chapter 25 Study Guide1276 Words   |  6 Pagesindustrial city, and place it in the context of worldwide trends of urbanization and mass migration (the European diaspora) Cities grew up and out, with such famed architects as  Louis Sullivan  working on and perfecting skyscrapers (first appearing in Chicago in 1885). The city grew from a small compact one that people could walk through to get around to a huge metropolis that required commuting by electric trolleys. Electricity, indoor plumbing, and telephones made city life more alluring. DepartmentRead MoreLanguage And Its Effect On Language Essay1727 Words   |  7 Pages Hayes 2011). Language is learned behavior that traditionally began orally, and would have been used to convey real-time statements of facts, however as time progressed the cultural invention of written language developed, changing the ways in which language could be used to communicate (Gee Hayes 2011). This evolution has greatly diversified language, creating many different varieties in the way of accents, regional varieties, professional varieties, urban varieties, age varieties, social varietiesRead MoreBusiness Administra tion1491 Words   |  6 PagesThese job descriptions include personal assistant whose role has changed due to the rapid progression of technology. They are now more responsible for a wide range of duties which have expanded beyond the scope of particular departments to the wide context of the organization.one of their key roles is the management of information. They are supposed to schedule meetings, maintain paper work, conduct internet research, increased understanding of the executive roles and be key team members of their operationRead Moreï » ¿Chapter 1—Communication Skills as Career Filters8514 Words   |  35 Pageschannels, including letters, memos, and e-mails. PTS: 1 DIF: Easy REF: p. 2-3 OBJ: Blooms Taxonomy: Comprehension NAT: AACSB: Tier 1---Reflective Thinking; Tier 2---Conclusion | AACSB: Tier 1---Information Technology; Tier 2---Communication Evolution TOP: Communication Skills: Your Ticket to Success 5. Major trends in todays dynamic world of work include increased emphasis on self-directed work groups and virtual teams, heightened global competition, innovative communication technologiesRead MoreCommunication- Is It an Art or a Science ? Let Us See...........7412 Words   |  30 Pagesvarious means, such as print or broadcasting. c. Any of various professions involved with the transmission of information, such as advertising, broadcasting, or journalism. 2. communication as a mean is: a. A system, such as mail, telephone, or television, for sending and receiving messages. b. A network of routes for sending messages and transporting troops and supplies. 3. In the electronic world, it is the transfer of data and information from one location to another.

International Business Environment for Porter- myassignmenthelp

Question: Discuss about theInternational Business Environment for Porter Theory. Answer: Introduction Porters diamond theory of national advantage is a significant theory that deals with the competitive advantages of countries. This theory states that countries can enhance their competitiveness by developing its different factors, which are available to them. It can be used to evaluate the ability of firm to operate the business in national market. In addition to this, it also analyzes the ability of national market to compete in global business market. It offers a model, which can assist in understanding the competitive position of the country in international competition. This theory mentions various factors for competitive advantage for different countries. These factors are such as firm strategy, structure and rivalry, factor endowments, demand conditions and related and supporting industries (Acs, Audretsch, Lehmann, and Licht, 2017). The major objective of this report is to discuss and apply Porters Diamond theory of National Advantage on Bank of Ireland. About the banking industry in Ireland, it can be stated that this industry is very significant for the development and stability of the countrys economy. Banking system in Ireland is very strong and it is regulated by different set of laws and regulations, which have united the directives of European Union. The major regulatory organization for Irish banking sector is the National Bank of Ireland that offers the rules and regulations for commercial banks, which are running their operations in Irish market (International Trade Administration, 2018). The Bank of Ireland is a commercial bank that is operated in Ireland and it is the part of traditional Irish Big Four banks. It is the type of public company that was founded in the year 1783 and headquartered in Dublin, Ireland. By offering premier banking operations and services, this bank occupies an exclusive position in the banking history of Ireland. It is the oldest bank in on-going banking operations in Ireland. Bank of Ireland is controlled by the Central Bank of Ireland. Currently, this organization has started to offer 365 online banking services, under which it offers flexibility and convenience to operate day to day banking on internet at any place and any time, which suits the customers (Bank of Ireland, 2018). Apart from this, the organization is offering both insurance and banking services to its domestic customers, who can be legal entities, natural persons, several institutions etc. As most of the Irish banks, Bank of Ireland also provides the services such as loan accounts, investment services, deposit accounts, current accounts, mortgage accounts etc. The below report discusses various factors, which contribute to the growth and success of Bank of Ireland in national and international industries. In this report, Porters National Diamond Theory of Competitive Advantage assists in understanding the ways how Bank of Ireland creates and sustains competitive advantage. It is the key to explain that what role the country plays in the success and processes of organization. By the use of this model, external competitive environment that assists organizations to determine the related strength and explain why banking industry in Ireland has become competitive and have regional and domestic advantages (Bessis, 2015). Firm Strategy, Structure and Rivalry Firm strategy, structure and rivalry are one of the factors of Porters Diamond Analysis that varies from nation to nation. Firm strategy, structure and rivalry are significant for the growth and success of a company. These strategies assist the organization in establishing new objectives, structure assists in managing the business activities and operations and rivalry assists in developing new and innovative ideas in companies (Cassidy, Barry and Egeraat, 2009). This factor of this framework is related to the way, in which a company is managed and organized, its corporate goals and the analysis of competition within its organizational culture. Moreover, it emphasizes on the conditions in a nation, which determine where the organization is operating its business. In the context of this factor, it can be stated that competitiveness breeds growth and success in an organization. The banking industry of Ireland is becoming highly competitive and it is very difficult to attain competitive advantage. There are various players, which are posing intense competition to Bank of Ireland. These players are such as National Irish Bank, Allied Irish Bank and Ulster Bank. By looking at the Irish Banking Industry, it can be stated that there is a tough rivalry among lots of banks. So, they are competing intensely and developing more unique and quality services (Barbosa, de Paula Rocha, and Salazar, 2015). As there are various competing banks, so people shift between banks easily because they are situated in same location, i.e. Dublin. If they are dissatisfied with the services of one bank, then they shift to other competitors in the similar sector. This is the major factor that drives the Bank of Ireland to become more competitive and innovative in the globa l market. The Bank of Ireland is doing so in the technologically sophisticated banking processes, which are not done by other rival organizations (Lazzarini, 2015). By the use of advanced and innovative technologies, Bank of Ireland offered 365 online services. These services of organization provide convenience and flexibility to practice its banking and account services. It has diversified its services in online banking, retail and commercial banking. To deal with the strong competition, Bank of Ireland is adopting various effective strategies such as; it has established a strong distribution network. Moreover, it has expanded its operations in Great Britain by the acquiring other banks. Marketing strategies of Bank of Ireland are very effective and it has enhanced its visibility through sponsoring sports events (Barney, 2014). Instead of strong competition, Bank of Ireland is able to gain higher competitive advantage by the use of effective strategies and structure. In this country, governme nt has developed strict rules and legislations for international players, which are attempting to enter into Irish banking industry. It helps this bank in attaining competitive advantage over international players also. Thus, it can be stated that direct competition is the major component that compels the Irish banking firms to work for enhancing their innovation and productivity in the industry. In Ireland, the companies are trying to be more innovative and qualitative due to competitive pressure from leading players in the industry (Gianiodis, Ettlie and Urbina, 2014). Factor Endowments It is another factor in the country that is related to the production and service factors of business, i.e. infrastructure and knowledge. According to this economic theory, factor endowment of a nation is commonly understood as amount of capital, labor, land and entrepreneurship, which a nation have and it can exploit for offering services (Wagner III and Hollenbeck, 2015). Factor conditions are significant aspects such as skilled and technology resources, which a nation develops. There are the factors to determine the competitiveness in particular sectors. These factors can be convened into important resources such as human resources, infrastructure and knowledge resources. In addition to this, the country includes the domestic buyers, which have demand and awareness for quality, innovative ad advanced products that can create global competitiveness for the organization (Byun, Lee, and Kim, 2016). In the Irish banking industry, the factor conditions are physical resources, human res ources, capital resources, knowledge resources and infrastructure. These are the most sparkling corner of Dublins diamond. Ireland country boasts talented, well-educated and native team. In addition to this, the Banks in the country are attracting experienced people from all over Europe, so that they can deliver the banking services effectively. Currently, Bank of Ireland has a strong workforce of more than 15000 employees. The company has trained its employees with different cultures and languages, so that they can expand their business in other countries and engage in international banking industry. In the country, there is a large presence of software companies that has provided different software to the banking companies. Ireland country has got a talented workforce and following the hard and long recession. Due to this, the talent and workforce of this company are comparatively cheaper than other neighboring countries. The country has good infrastructure and telecommunication f acilities, which assist this bank in gaining competitive advantage in this industry (Fainshmidt, Smith, and Judge, 2016). About Dublin, Ireland, it can be stated that country has enough supporting infrastructure that is required by the banks for operating their processes and connecting with their clients. Moreover, knowledge resources are also plentiful in the form of research and third level educational facilities. In the context of capital resources, Dublin has a strong venture capital community and the country has easy access to the government funding and debt financing. Apart from this, another component is the 45% decrease in the rental prices of offices, which have occurred in the city post-crash (Cullen, 2015). In Ireland, most of the banking firms reported that they are receiving non-financial support like marketing information, management development skills and business planning data from state agencies. Thus, it can be said that government and other state agencies are supporting the organizations in the development of factor conditions in the country. Irish telecommunication infrastructure is very beneficial for the competitive success of organization. Thus, the primary factors that are used by the Irish banking industry and Bank of Ireland and which may have a large impact on its competitiveness are capital resources, labor, talent, technological resources and infrastructure. By looking at the Irish scenario, it can be stated that factor conditions in Ireland are moderate for the Bank of Ireland and other firms in the banking industry, but they cannot be used solely (Kharub, and Sharma, 2017). Demand Conditions According to the Porters model of National Competitive Advantage, regional and local demand is the major root of national competitive advantage. Demand condition is the component that refers to the size and nature of customers of products and services in the domestic market. The demand conditions in the nation encourage the local companies to enhance their products and services offerings. If product and service demand will be more in the local market, then it can affect the customer demand in international market. In todays globalized environment where the local demand seems to be redundant, Porter recommends domestic demand can offer competitive advantage of an organization (Hallissey, 2016). An extensive local market can provide the major driver for a firm to upgrade and innovate before shifting to the international markets. Moreover, a country can adopt its culture and values to develop a market in foreign land. For most of the organizations, it seems that communication with the c ustomers in Ireland has been profitable and in this context regional demand conditions have some impact on indigenous banking sector. For instance, interaction with customers has assisted Bank of Ireland to develop innovative and improved products and services, which are specialized for targeted audiences. For Bank of Ireland, demand conditions are shown by the demand of traditional banking services such as; giving loans, accepting deposits etc. Number of accounts of bank customers and how better their related with the banks profits is important to be considered. In the case of Ireland market, there are different arguments, which can be made (Kelly, Brien, and Stuart, 2015). First, the home market in the country is very small to gain substantial economies of scale advantages and there is less incentives to make investment. However, it is improbable that Irish banking firms develop its banking services by keeping only Irish customers in mind. The country is emphasizing on expanding its demand conditions in United Kingdom that has given a closeness of the UK industry and historical connections between both countries (Floyd, Ardley, Summan, Rahman, and Vortelinos, 2016). This can be looked by the close link between the economy of UK and Ireland. This independence on UK industry has dropped intensely during past 35 years, but still UK is the largest customer of Ireland. By developing retail banking and online banking, Bank of Ireland is creating demand of its services in international market also. It is offering the services and facilities to international transfer of funds. Mobile banking of Bank of Ireland is designed to assist the customers to perform the banking in an effective and convenient manner (Baptista, and Oliveira, 2015). It has made international fund transfer very easy and secure by developi ng this facility. About Ireland, it is true that it is the home to some innovative, demanding and advanced customers, especially from banking and financial service industry. Therefore, the demand, which entices US and UK based companies to Ireland is not local but rather than regional. From the analysis of country, it can be stated that demand conditions solely are not important in Ireland, because they are dependent on other components of National Diamond theory like intense rivalry among local players. Related and Supporting Industries Related and supporting industries are the contributors for a nation, which drive the growth and success for other industries and overall economy. The growth and success of a market depends of the presence and contribution of suppliers and related industries in a region. In a country, the companies should involve the industries, which are considered as a major leader of a specific product or service. These suppliers and industries assist in reinforcing internationalization and innovation. If a company is successful, then it can be profitable for other supporting and related industries (Kumar, 2017). In a country, it is very important for a countrys growth as development of one sector affects the growth and success of other sectors. Supporting and related industries refers to the retailers and distributors, research institutes, distribution systems, tools and equipment, raw material suppliers, transportation system and other sectors, which use technology and other required facilities. Related and supporting industry is an essential determinant of national competitive advantage. There are various industries in Ireland, which are related and supporting to banking industry and which have a large impact of its importance. One of the most significant related industries of Bank of Ireland is those, which have assisted the bank to develop the skills and knowledge of labor that have proven meaningful and valuable for the banking industry. In addition to this, Information Technology (IT) industry is the most supporting industry as there are so many IT organizations, which are offering updated technologies and software to operate banking services (Bishnoi, and Devi, 2017). In Ireland, supporting and related sectors are surely contributing to the competitiveness and growth of Bank of Ireland. There are various risky businesses, which rely on traditional banking as they can have difficulties in getting loans and raising funds from public and financial markets. The survival of these risky businesses assures the development of banking industry in Ireland. With the increase in the demand of these risky businesses, there will be growth in the banking services and systems because this is the only source of funding for their business operations. These are the industries, which assist this bank in developing factor conditions in Ireland and gain competitive advantage over other players (Gibson, 2015). Apart from this, there are some other industries in the country such as insurance, venture capital, asset management and credit services. These organizations offer the services, which resemble the banks services. This has an adverse impact on the competitiveness o f Bank of Ireland. The people in country are shifting their interest towards these industries and companies that is reducing the customer base of the banks. To deal with the issues, the banking firms have established alliance and business relationships with the foreign companies (Jussila, Krkkinen and Aramo-Immonen, 2014). It has been purchasing the hardware and software from the foreign IT companies and taking marketing and promotional assistance. Bank of Ireland has adopted effective strategies such as merger, strategic alliance and acquisition. Thus, this factor of Porters Diamond of National Competitive Advantage is equally important to other factors and it is important to develop factor and demand conditions in the country. Conclusion From the above analysis, it can be concluded that Porters Diamond of National Advantage is an important model that analyzes different conditions and factors of a country. It states how the country is profitable for the organizations, which are operating business in this country. According to this theory of Porter, factors of country play a vital role in the growth and success of a company in global market. These factors are depicted in the shape of diamond, so it is known as diamond theory. The above report shows that there are various factors, which determines the national advantage. It is used to evaluate the external environment and marketplace that assist the organizations to determine the related strengths and describe that why some of the industries are competitive and have national advantages. These advantages can be evaluated by four factors such as firms strategy, structure and rivalry, factor conditions, demand conditions and supporting and related industries. These factors interact with each other and assist the firms in enhancing the competitiveness and gaining competitive advantage. The above report describes these four factors in context of Bank of Ireland. From this discussion, it can be stated that competitive advantage is moderate for the Irish Banking industry. A single factor is not sufficient for the growth and success of Bank of Ireland. The country should possess a combination of factors to gain national competitive advantage (Pinto, 2015). The outcomes of the above analysis indicate that business environment of the country is very supportive and can assist the organization in creating a foundation for getting comparative edge. The Irish banking industry has a powerful competitive position. There is a combination of profitable impacts, which have proved effective for the industry and Bank of Ireland. In the case of Bank of Ireland, factor conditions have been significant for the quality and availability of skilled workforce. In many ways, local demand conditions have a positive effect on creating competitive edge of most of the banking firms. Under the strategy, structure and rivalry factor, it can be stated that Bank of Ireland is adopting various effective strategies to deal with the intense competition in the industry (Riasi, 2015). It is making specialization and developing in different market niches that give it a sustainable and competitive market position. Domestic competition has positive impact on the competitiveness of banking companies in Ireland. In addition to these factors, there are some supporting and related industries, which have assisted banking organizations in developing skills and knowledge of labor in this industry. IT industry plays a vital role in the growth of Irish banking industry. Combination of these factors is beneficial for the organizations growth in a country. Thus, Ireland is a favorable country for the growth and success of banking firms and offering various regional advantages to Bank of Ireland. References Acs, Z.J., Audretsch, D.B., Lehmann, E.E. and Licht, G., 2017. National systems of innovation.The Journal of Technology Transfer,42, 997-1008. Bank of Ireland, 2018, Bank of Ireland - For small steps, for big steps, for life, Available from https://www.bankofireland.com/ on 12 March 2018. Baptista, G. and Oliveira, T., 2015. Understanding mobile banking: The unified theory of acceptance and use of technology combined with cultural moderators.Computers in Human Behavior,50, 418-430. Barbosa, K., de Paula Rocha, B. and Salazar, F., 2015. Assessing competition in the banking industry: A multi-product approach.Journal of Banking Finance,50, 340-362. Barney, J.B., 2014.Gaining and sustaining competitive advantage. UK. Pearson higher ed. Bessis, J., 2015.Risk management in banking. US. John Wiley Sons. Bishnoi, T.R. and Devi, S., 2017. Information Technology in Banking System. InBanking Reforms in India, UK. Palgrave Macmillan, Cham. Byun, J.W., Lee, S.S. and Kim, S.S., 2016. The convergence of IP and financial sectors: Analysis of the national competitiveness by using Diamond model approach.Journal of Digital Convergence,14, 227-234. Cassidy, J., Barry, F. and Egeraat, C.V., 2009, Ireland Industrial Competitiveness in a Small Open Economy, National Institute for Regional and Spatial Analysis, 44, 1-49. Cullen, M., 2015, What Makes Dublin The Second Home Of SaaS? Available from https://www.dublinglobe.com/community/opinion/what-makes-dublin-the-second-home-of-saas on 12 March 2018. Fainshmidt, S., Smith, A., and Judge, W. Q., 2016, National Competitiveness and Porter's Diamond Model: The Role of MNE Penetration and Governance Quality, Global Strategy Journal,6, 81-104. Floyd, D., Ardley, B., Summan, S., Rahman, M. and Vortelinos, D., 2016. Should we be worried about the increasing foreign ownership of UK industries?.Theoretical Economic Letters,6, 178-185. Gianiodis, P.T., Ettlie, J.E. and Urbina, J.J., 2014. Open service innovation in the global banking industry: Inside-out versus outside-in strategies.The Academy of Management Perspectives,28, 76-91. Gibson, J., 2015, The Impact FinTech is having on the Financial Services Industry in Ireland, available from https://esource.dbs.ie/bitstream/handle/10788/2906/mba_gibson_j_2015.pdf?sequence=1isAllowed=y on 12 March 2018. Hallissey, N., 2016, Interconnectedness of the Irish banking sector with the global financial system, Quarterly Bulletin. International Trade Administration, 2018, Ireland - Banking Systems, Available from https://www.export.gov/article?id=Ireland-Banking-Systems on 12 March 2018. Jussila, J.J., Krkkinen, H. and Aramo-Immonen, H., 2014. Social media utilization in business-to-business relationships of technology industry firms.Computers in Human Behavior,30, 606-613. Kelly, R., Brien, E.O. and Stuart, R., 2015. A long-run survival analysis of corporate liquidations in Ireland.Small Business Economics,44, 671-683. Kharub, M. and Sharma, R., 2017. Comparative analyses of competitive advantage using Porter diamond model. Competitiveness Review: An International Business Journal,27, 132-160. Kumar, A., 2017. Information Technology Industry.Journal of Management Science, Operations Strategies, 1, 12-15. Lazzarini, S.G., 2015. Strategizing by the government: Can industrial policy create firm?level competitive advantage?.Strategic Management Journal,36, 97-112. Pinto, J.K., 2015.Project management: achieving competitive advantage. US, Prentice Hall. Riasi, A., 2015, Competitive Advantages of Shadow Banking Industry: An Analysis Using Porter Diamond Model, Business Management and Strategy, 6, 15-27. Wagner III, J.A. and Hollenbeck, J.R., 2014.Organizational behavior: Securing competitive advantage. UK, Routledge.

Questions Essay Example Essay Example

Questions Essay Example Paper Questions Essay Introduction Question 1. You are a recently appointed Sales Manager for a manufacturer of small engines. The company has grown rapidly over recent years, but its profit margins have been declining and this is one of the key issues that you have been hired to address.After three months on the job, you have become aware that the company’s nine salespeople are focused on closing as many deals as possible regardless of whether they provide good solutions for customers. In addition, salespeople are discounting so much that your company’s margins are continuing to decrease. Clearly, your position as Sales Manager may be in trouble if this continues, plus your personal bonus is based upon achieving profit margin objectives.When you have discussed this with the salespeople, they indicate that in the past they have been encouraged to focus on sales volume and not the profitability of deals.Some changes are required otherwise the profitability targets of the organisation and your personal bon us will not be achieved. What steps do you undertake to resolve the situation and why do you undertake those steps?It is important for the Sales people to be able to have clear goals so that they may correspondingly direct their behaviour towards the achievement of these targets. If they have been accustomed to believing that they will have maximum pay-offs in increasing their sales volume, then they will continue to act as if this strategy will yield them maximum benefit. The first step I will do is to hold a general assembly which will focus on this change of mindset. I will clarify with them that it is profitability and not merely sales volume that will give both them and the whole unit maximum yield. This is consistent with the essence of expectancy theory.Expectancy theory supports the contention that people choose the behaviour they believe will maximize their payoff. It states that people look at various actions and choose the one they believe is most likely to lead to the re wards they want the most. This theory has been tested extensively. It has been found that expectancy theory can do an excellent job of predicting occupational choice and job satisfaction and a moderately good job of predicting effort on the job. Expectancy theory implies that the anticipation of rewards is important as well as the perceived contingency between the behaviours desired by the organisation and the desired rewards. The theory also implies that since different people desire different rewards, organisations should try to match rewards with what employees want (Weathersby, 1998). In other words, if the sales people realise that they will have more reward if they focus on profitability, then they will work towards this changed goal. What is important is to be able to effectively clarify what the goal is, why it was changed, and why it is crucial to achieve it.This change in mindset among the sales people may also be perceived as a change in the vision and its clarification. It is important for me as a Sales Manager to have a clearly defined vision, both on the task and people sides of the business. This speaks of the effectiveness of their leadership, which is both people-oriented than task-oriented. All leaders have the capacity to create a compelling vision, one that takes people to a new place, and the ability to translate that vision into reality. Modern leadership literature frequently characterises the leader as the vision holder, the keeper of the dream, or the person who has a vision of the organisation’s purpose. If the Sales team is one in achieving a profitability target and they know the specific objectives that they have to hit to contribute to this overall goal, then I would be more confident that the overall goal of the team would be achieved.;Personal vision includes my personal aspirations for the organisation and acts as the impetus for the my actions that will link organisational and future vision. My vision needs to be shared by those who will be involved in its realization. Setting of a profitability target for the sales team is just one manifestation of visionary leadership, where a clear goal is identified – but I also have the responsibility to link this to more strategic organisational thrusts.;Question 2. You are the Sales Manager of an electrical goods distributor whose main customer base is electrical retailers. One of your most successful salespeople struggles to submit the weekly written reports that you require from all of your salespeople. This salesperson never submits the reports on time, you usually have to repeatedly request them and when they are submitted they don’t contain the customer information or sales activity information that you want. This also makes it difficult to keep these customer records up to date in the company’s CRM system and limits the ability of sales support staff to help manage these relationships. The rest of the salesforce submit these repor ts, in hard or soft copy, on time and without complaint.What do you do about this issue and why?The first thing I will do as a Sales Manager is to hold a performance discussion with my salesman because of this poor work habit of delayed report submission. During the discussion, I would clearly state why we are holding the session and its importance. I would then allow him to express concerns about why he is always not punctual in churning out his reports. I will try as much as possible to still maintain his self-esteem despite the correction, and also to listen attentively to his concerns. At the end of the session, we should have concurred on the best course of action to be able to resolve the problem. We will then set a work plan, specifying who will do what and by when.The clarity of a goal is important – it needs to be specific, measurable, attainable, realistic and time-bound. I should ensure that the goal of report submission comply with these criteria of well-defined g oals / objectives. Moreover, I should also be able to show the linkage of this positive behaviour of goal submission to reward. If no such linkage is made, the salesman may not be motivated in attaining the goal set out for him. According to goals setting theories, employees set goals and those organisations can influence work behaviour by influencing these goals. The major concepts in the theory are intentions, performance standards, goal acceptance, and the effort expended. These concepts are assumed to be the motivation. Participation in goal setting should increase commitment and acceptance. Individual goal setting should be more effective than group goals because it is the impact of goals on intentions that is important. In goal-setting theory the crucial factor is the goal. Tests of the theory show that using goals leads to higher performance than situations without goals, and that difficult goals lead to better performance than easy ones (Maczynski ; Koopman, 2000). Although participation in goal setting may increase satisfaction, it does not always lead to higher performance.Second, I will also ensure that continuous monitoring and feedback transpires after we hold the performance discussion. I will coach him further if necessary until he is able to correct his poor work habit. A feedback system can be a form of reinforcement system and a motivational factor for management in promoting positive behaviour among employees. Following Skinner’s =:///cbt-skinner-vs-psychotherapy-freud/ class=ilgen data-wpel-link=external rel=nofollow>reinforcement theory, I can use the feedback system as a form of motivational lever in shaping my salesman’s behaviour and in helping him aim for higher goals. I can also provide incentives for positive behaviour.;It is important to provide feedback to the salesman to assess his or her strengths and weaknesses so that further training can be implemented. Although this feedback and training should be an ongoing pro cess, the semi-annual evaluation might be the best time to formally discuss his performance, but performance coaching sessions across the performance period is encouraged.;Question 4. If you pay a sales person enough money you will have a well motivated sales person. Do you agree? Explain your reasons.While pay is an important consideration for most workers, there are more important considerations that affect an employees’ intention to stay with the organisation and to work optimally. My salesmen’s intrinsic motivation will cause them to exhibit organisational commitment even as he realizes that the pay offered by the company is not necessarily the most competitive. While this is the case, tt is important to ensure that their pay is equitable – while it is not the highest in the industry – since this is intricately related to the my salesmen’s sense of job satisfaction.I should also ensure that the rewards given to my sales people are equitably giv en. Equity theory suggests that motivated behaviour is a form of exchange in which individuals employ an internal balance sheet in determining what to do. It predicts that people will choose the alternative they perceive as fair. In other words, my sales people should find that those who contributed more to goal attainment are also rewarded as much. That is, reward is a function of performance or merit.I realise that motivating workers well in these times of change demands a balanced combination of emotional and intellectual levers. Any manager should learn to use and combine as many needs, factors, modes of reinforcement, and outputs into their message as may be necessary to motivate their employees (Legge, 2005). As Sales Manager, I can become a good motivator by knowing two things well: first, which tool or level of motivation will work for each and every employee, and second, how to motivate and communicate effectively with the use of positive reinforcement. On the part of my co mpany, management practices which can serve as effective reinforcers include self-esteem work shops, flexible work arrangements, customized benefits packages, individual and team performance-based reward systems, among others. Each employee is different thus their motivating factors vary from one and other. My task should be to locate motivational factors of each individual or group in order to develop a motivational environment. This will assist the me in creating a better working environment enhancing productivity and job satisfaction.;Leaders and managers like myself are the ones that provide motivation and vision to any organisational undertaking. I should posses the capabilities, abilities, and skills of a leader in order to create a motivating, working environment. Only in having such effective and motivational leadership can the organisation be assured of a healthy, sustainable, and committed workforce.Word Count: 402ReferencesLegge, K. (2005). Human resource management: Rhet orics and realities. Anniversary edition. Basingstoke: MacMillan.Maczynski, J. ; Koopman, P. (2000). Culture and leadership profiles in Europe: Some results from the GLOBE study. In Koslowsky, M. ; Stashevsky, S. (eds.), Work values and organisational behaviour toward the new millennium. London: Macmillan.Weathersby, G. B. (1998). Leadership at every level. Management Review, 87(6), 5. Questions Essay Thank you for reading this Sample!