The peripheral economies have not been able to restructure their economies and introduce reforms to enhance productivity and competitiveness of their economies. 1.1.2 The Irish Economy The Irish economy has been one of the most successful in the world but it has also been among the hardest hit during the economic recession (European Commission, 2012). Up to 2007 Ireland experienced strong economic growth and the living standards in Ireland caught up with the world standards. This occurred as more number of workers entered the labor market. Additionally, higher levels of education resulted in better productivity. EU being declared as a single market made Ireland an attractive destination for inward investments. Between 2002 and 2007 the economy experienced high growth rates but this was at the cost of the Irish households building up personal debts. The real estate sector surged forward to due to increase in bank lending. Due to this, the balance sheets of banks grew disproportionately large compared to the size of the economy. In addition to the deposit base, the introduction of the Euro encouraged short-term borrowing from overseas. Risky lending practices by the banks proved to be damaging for the economy and this was evident when the property bubble burst (European Commission, 2012). Because of these anomalies the Irish banks were vulnerable to the global recession in 2007. The collapse of Lehman Brothers, investment bankers of US, led to severe tension in the global financial markets which led to deposit outflows at the Irish banks. 1.1.3 SME Retail sector in Ireland The retail sector in Ireland comprises of over 20,000 food and non-food retailers, mostly SMEs, being both Irish and International in origin (IBEC, 2012). The retail sector employs over 240,000 employees. Retailing offers people career in their own locality. The retail SMEs have invested heavily in the sector in the last decade. As a result of recession, the retail market has shrunk by over one-fifth in the terms of value. The retailers were forced to reduce prices, which in turn impacts the overall profits. However, the operating costs have not been affected due to inflexible rents, hourly pay rates, local authority charges and property service charges. The shrinking of the retail market compelled the retailers to seek help from the government. To enhance consumer spending, focus on employees has been considered a valuable agenda. This is based on the recommendation of Irish Business & Employers Confederation in its election manifesto ‘Delivering the Jobs Agenda’ (IBEC, 2012). 1.2 Competitive advantage through people Human resources are now considered valuable assets as there has been a rise in the status of knowledge workers (Sheehan, 2005). Based on the resource-based view of the firm, human capital has become the source of competitive advantage as Koch and McGrath (1996) contend that a highly productive workforce possess attributes that make it a highly valuable strategic asset. This has led to the recognition of and commitment to human capital development; this has also caused the shift from traditional personnel management to refined HR practices. Competitive advantage can also be gained by recruiting people from diverse backgrounds regardless of ethnicity, age, gender and other individual characteristics (D’Netto and Sohal, 1999). 1.3 Motivation for Research Retailing is intensely competitive in Ireland as anyone can open a store. This has brought in many new
Chapter I - Introduction 1.1 Background 1.1.1 Global recession Companies across the globe are dealing with challenges posed by the economic recession. The growth is slow in practically every nation amidst political uncertainties. The global economy grew 5% in 2010 and 3.8% in 2011 (Reddy and Davis, 2012)…
The research objectives are as follow:
To analyse the role of loyalty programs in customer loyalty in HSBC, Barclays and Royal Bank of Scotland
To investigate the impact of customer loyalty on customer retention
To assess the loyalty patterns of customers
To understand the importance of loyalty programs in attracting, retaining and empowering customers
Corporate social responsibility is a method by which many organizations take responsibility for the impact of their activities on customers, communities, shareholders, employers etc. This practice of CSR is more debatable and critics argue that CSR distracts from the fundamental economic role of businesses.
Rationale and context The main objective of this project is to identify what services Audi provide after sale service, and which areas of the services could be improved in the opinion of the customers. Audi is a premium car brand from the stable of Volkswagen.
ut UK Retail Banking 4.2 Roles and Impact of the Financial Services Authority (FSA) 4.3 Results of 2010 UK Retail Banking Satisfaction Survey 4.4 Results of 2010 UK and Europe Retail Banking Market Survey 4.5 Results of Web Survey of 1,000 Bank Customers 4.6 Results of Telephone Survey of Barclay Life Customers in the Past 4.7 Results of an Industry Study of Internal Marketing of UK Retail Banks Chapter 5 - Conclusions Chapter 6 - Recommendations 6.1 Limitations of Recommendations 6.2 Room for Further Research References Appendix Abstract This project unveils the global economic situation as well as the UK economic conditions behind the UK Retail Banking industry problems with customer satisf
INTRODUCTION In the recent years research relating to customer satisfaction in the service industries has increased dramatically (Peterson and Wilson, 1992). This has been accredited due to an increase in the growth of service industries (Danaher and Haddrell, 1995).
Following this aim, the researcher in this study has adopted a quantitative research approach so as to gather information relating to the identified variables, such as service quality, customer satisfaction and switching behavior. The analysis of results obtained through survey indicated that there is a positive impact of service quality on the customers’ satisfaction level, and in case of UK’s retail banking sector, the customers have placed particular emphasis on reliability, responsiveness and tangibility dimension of service quality.
Reforms in the banking sector have also blurred the lines between banks and non-banks, thereby increasing pressure on banks to perform. Customer experience now defines service quality and poor service quality can push customers to switch service providers.
Based on the notion of how CRM is capable of producing positive effects on customer loyalty, a hotel will be selected for studying and researching the point in question here in hospitality industry, which namely Renaissance Beijing Capital Hotel. This dissertation aims to critically analyze the impact the CRM has made on Customer Loyalty in Renaissance Beijing Capital Hotel.
Grameenphone Ltd. has stepped into its 10th year of operation, having completed its 10th year on March 26, 2007. It is the leading telecommunications service provider in the country with more than 10 million subscribers as of December 2006. Grameenphone has been recognized for building a quality network with the widest coverage across the country.
38 pages (9500 words)Dissertation
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