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employees contribution in customer satisfaction, customer retention and customer loyalty in SME retail organization like SUPERVA - Dissertation Example
Author : pdietrich
Pages 20 (5020 words)
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 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. ...
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