Financial Crisis Evolution Of Bank Capital - 3146 Words

TABLE OF CONTENT: Introduction 2 Defining Bank Capital 2 Measure of Bank Capital How Capital Absorbs Risk 2-4 †¢ Covers Credit Risk †¢ Prevents Liquidity Problems †¢ Manages Operational Risk †¢ Restricts banks from taking excessive risk Manipulation of Capital Standards 4-7 †¢ Quality of Capital Resources †¢ Internal Rating Based (IRB) approach under Basel-II †¢ Securitization †¢ Credit Derivatives†¦show more content†¦Capital in banks play an essential role of helping banks remain solvent by absorbing losses caused due to stress conditions. In this paper, we shall analyse how capital helps banks manage their risk, what led to banks failing during the financial crisis and what measures have been adopted to avoid (or better manage) such situations in future. DEFINING BANK CAPITAL Banks’ capital is defined to be the difference between the assets and liabilities of a bank. It is the net worth of the bank or its value to investors. It is stated along the liabilities side of the balance sheet. Main characteristics of bank capital †¢ No contractual repayment requirements: Unlike other liabilities, bank capital is perpetual. As long as bank continues to be in business, it is not obliged to repay the shareholders. †¢ Low priority in case of bankruptcy: In case of insolvency or bankruptcy, capital investors only receive what remains after paying all the creditors. Capital generally ranks low in case of claims as compared to most of the other claimants. Constituents of bank capital †¢ Tier 1 Capital also known as core capital includes permanent shareholders’ equity and disclosed reserves. †¢ Tier 2 Capital (supplementary capital) includes undisclosed reserves, revaluation reserves, general provisions, hybrid capital instruments and subordinate term debt subject to certain conditions.

International Marketing Plan for Londons Ships - Free Essay Example

Sample details Pages: 10 Words: 2910 Downloads: 9 Date added: 2017/06/26 Category Marketing Essay Level High school Did you like this example? International Marketing Plan for Londons Ships 1. Executive summary This report presents an inclusive international marketing plan which has been formulated for Londons Ships, operating in the tourism industry of the UK. The marketing plan primarily aims to generate awareness within its target market regarding the products and services offered by the enterprise. Don’t waste time! Our writers will create an original "International Marketing Plan for Londons Ships" essay for you Create order This plan also aims to promote the historic partner museum ships with in the global tourists market. These partner museum ships are members of Londons Ships. This marketing plan is the primary plan formulated for a period of one year. The target market that has been defined by the marketing plan is formed of those people who keep keen interest in the UKs history and heritage and falls within the age bracket of 35 to 65. This target market lives in USA. The marketing plan has been designed upon carrying out an examination of the UK tourism industry. The industry has been influenced by the distressed economic condition and requires expansion with the help of the UK government. It has been further recognised that micro and macro industrial environment has the capability to impact the enterprise and its subsequent performance. The marketing plan identifies the objectives based upon which the marketing strategy and the communication channels have been proposed. This plan also ascer tains the implementation plan with identified responsibilities and time period. Furthermore it has also been postulated that the plan should be persistently monitored and assessed against the performance indicators. The key factor based upon which the plan has been proposed is the consistent monitoring and reviewing of the performance and expected outcomes of the marketing plan so that performance issues can be addressed. 2. Objectives of the enterprise 2.1. To develop and expand the business of the enterprise by means of expanding the market and develop the brand of Londons Ships. 2.2. To propagate the museum ships as esteemed members of Londons Ships as well as the heritage of the UK. 2.3. To amplify the revenues generated by the business by means of accomplishing business sustainability and subsequent expansion. 3. Assessment of the environment of the market (source: Londons Ships corporate website; Business Source Premier, 2009, case study: Londons Ships of Historic Interest Partnership) 3.1. Micro environment: Carrying out the SWOT analysis of the enterprise, it has been assessed that the strengths are representation of the company as the heritage of the UK whereas the member vessels of the enterprise are some of the famous and well known museum ships. The weaknesses of the enterprise are its dependency on the tourism industry of the UK which had directly affected the performance of the enterprise. Londons Ships lacks in adapting to the technological innovation such as e- commerce website that can facilitate the business in increasing its sales and revenues through providing information, knowledge regarding the offered products and services by the enterprise. Additionally an e- commerce business infrastructure can also provide the international tourists to do online booking, which also is the missed opportunity by the company. Thirdly the major weakness has been observed as the uncompetitive website of the company which lags far behind in providing informati on and interaction of the business with its customers and stakeholders. The opportunities that lie ahead of the business are to take advantage of the investments by means of expanding and enhancing the e- marketing and online presence. Secondly with improvements that are expected in the UK economy are also expected to influence the industrial development, hence laying positive impacts on the business growth. The threats to the enterprise are seen in the form of competitive tourism industry of the UK which has the potential of attracting new market entrants who are eager to snatch the opportunities through forming associations with existing companies and increasing their market share. Secondly the other business affiliates such as hotels, car rental service providers etc can also threaten the company through making strategic alliances with the competitors. 3.2. Macro environment: the tourism industry of the UK had got affected by the existing economic turbulence. Therefore t he tourists operators have been under constant scrutiny that whether or not these operators effectively furnish the value for money. The number of tourists visiting the UK has been declined since last nine years (Mintel Oxygen, 2009). Therefore the tourism industry is facing challenges in terms of attracting the tourists due to slow development, lower business revenues and scarcity of competent and skilled people. 3.3. It has been assessed that in order to provide efficient services by the industry, hit mandates persistent investments to be made in the development of people and the products. The tourism industry of the UK demonstrates high potential to survive even in the distressed economic situation nevertheless, significant considerations must be made by the government to promote UK tourism as one of the key economic drivers. The subsequent result of expanding the industry will be job creation within the industry, increased revenues that will be shared by the market and most importantly giving a boost and financial injection to the distressed and recovering UK economy. 4. Identification of the target market The marketing plan primarily aspires to target a single market which is USA market. Upon the effective implementation of this marketing plan, other target markets will be defined and approached. As indicated, the target market falls within age the age bracket of 35 to 65 years. The target market has been assessed to keep a keen interest in exploring the world tourists sites due to their expenditure power. A brief analysis of the USA market has been given below along with the reasons for choosing this market as the target market for the marketing plan: 4.1. PESTEL analysis of USA (USA country profile, Euromonitor International, a, b, c 2010) The political arena of the USA raises concerns due to its involvement and approach towards international politics. Within the USA the expenditure of the government on social security and Medicare contributes towards two- fifth of the spending of the federal government which has been accused of increasing with an unjustifiable rate. Th erefore due to the economic turbulence this funding has been affected which translates into instability of the USA government. The economic condition of the country appears to be distressed. Although currently the GDP seems to be stagnant, however it is expected to grow up to 3.1 per cent by the end of year 2010. The GDP is also expected to grow up to 2.6 per cent by the end of year 2011. The social landscape indicates towards a high living standard inclusive of yearly and even frequent trend of holiday making. The tourism spending has increased by the end of 2009 whereas decline in the inflation rate also indicates towards a promising picture. There has been increasing interest noted by the global tourist industry in the UK tourism industry due to increased efforts made by the local industry in increasing inbound tourism in the UK (Mintel Oxygen, 2009). Out of the most famous tourism attractions in UK are its historical buildings, museums etc. There has been an increase in in bound tourism in the UK, hence attracting the tourists from the USA market has been done because the USA is bigger market with increasing expenditure on tourism. 5. Marketing Objectives The marketing objectives have been drawn on the business objectives of the enterprise as indicated in section 2. These objectives have been set as: 5.1. To obtain a larger market share of the global market and also obtaining a larger share up to five per cent of the USA market in first year of implementation of the marketing plan. 5.2. To develop the relationship with the customers and stakeholders of the enterprise. 5.3. To develop a brand of the enterprise by means of creating an awareness of the enterprise as well as museum vessels. 6. Proposing a marketing strategy (inspired by Bangs, 2002; Chinsall, 1995). The following marketing strategy has been proposed to be adapted by the enterprise so that the defined marketing objectives can be attained: 6.1. Product: The enterprise requires developing its product and branding portfolio by increasing the quality and operational characteristics of the products and services that are being offered to the customers. It is recommended that the developed products and services should be coordinated with the needs and demands of the USA tourists. In addition to the development of the product portfolio the enterprise also requires to provide effective customer services that are designed to gain ultimate customer satisfaction. These efforts should be made in line with the brand development initiatives under taken by the management. Within the same context, introducing products such as green tourism should also be introduced that supports preserving ecology and bio- diversity. The prime objective of the developed product and brand portfolio shoul d be addressing the target market coupled with services such as loyalty scheme, extra mileage scheme, easing out the accessibility for the disabled tourists. 6.2. Price: The adapted pricing strategy of the enterprise should be a combination of competitive and premium pricing strategy. This has been proposed so that the tourists can be capable enough of spending on the tourist products and attractions with varied choices. 6.3. Place: There is an immediate requirement of the development of the e- commerce based infrastructure of the enterprise. It has been therefore suggested that Londons Ships should form strategic alliances with other tower operators to come up with competitive tourists products laden with trade discounts, competitive products etc. The development of e- commerce channel should be in line with brand development as well as creating the brand awareness of the corporation and its products and services. 6.4. Promotion: The enterprise should adapt multiple p romotional channels such as e- marketing, public relations, social networking and so forth. Most importantly the company should concentrate on making a strong and consistent presence of the company as well as expansion of e- commerce website within this regards it has been suggested that the company should make its distinction on major search engines like Yahoo, msn etc. The reason behind doing so is to generate online traffic for the company as well as including provision of shared links in coordination with other e- commerce websites / companies offering similar services and products to the customers. The company can also improve its web presence by means of including familiar key words and by means of paying a specific amount to major search engines so that the web link of Londons Ships can be sponsored and appear with the results of the search engine. This can be made possible through outsourcing a search engine placement company whose job is to generate customer awareness , increase online traffic etc. for the enterprise. Most importantly Londons Ships should adapt to the process of email marketing. An e- mail marketing campaign that is designed for generating revenues as well as retaining customers likely to provide benefits such as higher number of customers visiting the website, increased brand awareness, brand development. Further on email marketing can also benefit the company through giving a cost effective solution that is equally influential in attracting global tourists towards the UK tourism industry. Some of the compatible channels of communication of e- marketing are newsletters, brochures etc. 6.5. In addition to the above recommendations the company should also adapt to the online public relations so that the customers and stakeholders are consistently kept well informed about the company and the brand along with development of the brand in context of supporting global ecology, low carbon economy and green tourism pertaining t o bio diversity. 6.6. Most importantly the company should also strengthen its relationships with its customers and business partners so that the objectives of retaining the customers and obtaining a higher percentage of global market share can be attained. 7. Implementation plan (inspired by Kotler, 2006) Strategy- Implementation plan -Identified responsibilities -Start date-End date. Develop products portfolio and brand of the company along with creating the product and brand awareness: implying marketing and advertising channels along with branding and online public relations actions in order to promote the product portfolio. Creation of the awareness of the company and its brand should be carried out through promotion the marketing massage which is influential enough to successfully attract the customers to the member vessels of the company. Marketing manager, executive and team members September 2010-August 2011. Develop competitive and premium pricing strategy Revisions of the pricing strategy so that the company offers varied prices that cater different social classes with in the identified target market. Competitive prices can be possibly accomplished through cutting down the cost of business. In order to premium price the products, the enterprise should undertake some strategic actions such as making strategic alliances with allied services (other tour operators) so that the customers can be provided with value for their money(family packages, annual passes, fast track access etc.). Marketing manager, operations manager and their team November 2010-March 2011. Develop relationship with the stake holders Develop communication channels so that the customers and stake holders are kept well informed about the developments and activities of the company. Marketing manager, Business manager and his team October 2010-August 2011. 8. The marketing budget The desired marketing budget for this marketing plan has been assessed to be  £ 20,000 for the first year. The desired resources that should be allocated for the implementation process of this plan are human capital, financial budget, and continued support of the management as well as marketing personnel. 9. Monitoring and evaluation The evaluation of the marketing plan should be carried out against the following performance indicators as suggested by Punniyamoorthy and Murali (2008). These indicators are higher number of customers, increased brand awareness, experiencing the anticipated outcomes of marketing activities, successfully implemented competitive and premium prices paid by the customers, improved quality of customer services, higher market share etc. 10. Critical Issues (source: drawn from the case study) Londons Ships is assessed to challenge by the following critical issues which must be addressed prior to the implementation of the marketing plan that has been proposed above: 10.1. A process of consistent monitoring and reviewing should be carried out so that the marketing manager is well aware of the performance evaluation of the plan and can take corrective measures accordingly. 10.2. In addition to the implementation of the marketing plan the company should also concentrate on the development of its e- commerce infrastructure and web site so that the proposed strategies can be effectively implemented. It is also important so that the customers / foreign tourists can draw information and knowledge regarding the company and partner museum ships through the website as well as securing online purchases long before entering into the UK. 10.3. Londons Ships should also adapt to strategic business practices such as development of e- supply chain, forming strategic allianc es with business partners with an ambition of offering tourist packages etc. 10.4. In addition to above issues the management should ensure that the company is well equipped with skilled and competent personnel which is capable enough of coping with the significant changes that the company has been suggested to go through. Therefore sufficient amount of training and development needs to be provided to the people along with learning and identifying the needs and demands of the people. References and Bibliography Adrian, P (2001) Principles of Services Marketing, (3rd edn) McGraw Hill Business Source Premier (2009) ‘Tourism crucial to UK recovery, Caterer and Hotelkeeper, 199:4583 Buttle, F (1996) Relationship Marketing: Theory and Practice, Sage Brassington, F and Pettitt, S (2006) Principles of Marketing, (4th edn), FT Prentice Hall Bangs, D (2002) The Market Planning Guide: Creating a Plan to Successfully Market Your Business, Product, Or Service (6th edn), Kaplan Publishing Buhalis, D and Costa, C (2006) Tourism Frontiers: Industry, Elsevier/Butterworth Heinemann, Oxford, UK Buhalis, D and Costa, C (2004) Tourism Management Dynamics: Trends, Management and Tools, Elsevier/Butterworth Heinemann, London Cox, E (2001) Diffusion of forecasting principles through books, In J. S. Armstrong (ed.), Principles of Forecasting / J. E. Cox, D.G. Loomis, Boston: Kluwer Academic Publishers,. Choy, L (1995) The quality of tourism employment, Tourism Management, Vol. 16 No. 2, pp. 129-37 Chinsall, P (1995) Strategic Business marketing, (3rd edn) Prentice Hall Chaston, I (2001) e-Marketing Strategy, McGraw-Hill Christopher, M et al. (1993) Relationship Marketing: Bringing Quality, Customer Service and Marketing Together, Butterworth-Heinnemann Clarke et al. (1998) Relationship Marketing, Financial Times Management. Doyle, P (2006) Marketing Management Strategy, (4th edn), FT Prentice Hall Dlabay et al (2005) Intro to Business: Finance, Marketing, Operations, Management, Thomson South-Western Euromonitor International (2010 a) USA: Country Profile 2010, Euromonitor International Euromonitor International (2010 b) Travel and tourism- United Kingdom, Euromonitor International Euromonitor International (2010 c) Travel and tourism- USA, Euromonitor International Edgell, L (1995) â€Å"A barrier-free future for tourism†, Tourism Management, Vol. 16 No. 2, pp. 107-10. Finn, A. and Erdem, T (1995) â€Å"The economic impact of a mega-multi-mall. Estimation issues in the case of West Edmonton Mall†, Tourism Management, Vol. 16 No. 5, pp. 367-73. Gilligan, C et al (2003) ‘Strategic marketing planning, Butterworth-Heinemann Gonzalez, A and Bello, L (2002) ‘The construct â€Å"lifestyle† in market segmentation: The behaviour of tourist consumers, European Journal of Marketing, Vol 36:No 1/2, pp. 51-85 Hollensen, S (2007) Global Marketing, Pearson Education Limited, England Lambin, J (2000) Market-Driven Management, MacMillan Hosuton, B et al. (2002) Business strategy: an introduction, (2nd edn), Butterworth-Heinemann, Oxford Kotler, P (2000) Marketing Management, Millennium Edition, Prentice Hall Kuhn, R (2002) Process-based strategic planning, (2nd edn), Springer Londons Ships corporate website (2010) ‘About us [online] Available from https://londonships.org.uk/Events2.aspx Mintel Oxygen (2009) ‘Inbound Tourism- UK-November 2009, Mintel Oxygen Payne, A et al. (1998) Relationship Marketing for Competitive Advantage: Winning and Keeping Customers, Butterworth-Heinnemann, Porter, M (1985) Competitive advantage: creating and sustaining superior performance, Free Press, New York Ryan, C (1995) â€Å"Tourism courses: a new concern for a new time†, Tourism Management, Vol. 16 No. 3, pp. 97-100. Find out more from UK Essays here: https://www.ukessays.com/services/example-essays/mar keting/international-marketing-plan-londons-ships.php#ixzz3EEh1jQiX

Nursing and Nurse Practitioner Free Essays

My Career goal Tiffanie Brown My all time career goal is to become a Nurse Practitioner. I will have a lot of hoops to Jump through in order to get there but I am determine to achieve my goal so I no I will Succeed in this process. Currently I am working as an LPN at a long term care facility which I enjoy very much I attended almost 2 years of school to be able to sit for my license board for my LPN It was not easy at all I had a lot of long nights studying and early clinical mornings I first started out in a computer class to make sure I had general computer knowledge. We will write a custom essay sample on Nursing and Nurse Practitioner or any similar topic only for you Order Now Then I currently moved to pharmacology and my basic nursing classes. Each class was A month long and focused solely on that specific class. After 6 months of nursing classes I currently moved on to my clinical piece of nursing School. Which were sometimes all day and night. We had to pass each portion of our Clinical rotation in order to be able to move on to the next clinical. It was not easy but I made it through my clinical rotation, it took a lot of focusing on my certain tasks but I took my time and proceeded to pass all subjects, after my clinical portion was complete I had to take an exit exam so I was able to sit for my boards, I studied days and nights and It paid off I passed my exit exam and was able to sit for my state boards. I took them And passed on my first try, I received my license and been practicing for the last two years. Currently I am at U. C Raymond Walters College taking my necessary pre-reqs so I can Get into the LPN-RN bridge program they offer. I will have to take a year almost Of my pre-req classes in order to qualify for the program, I have to take several Math classes, English comp 1,2,3 I have to take bio-organic chemistry, global Community, anatomy 1,2,3 I will have to take pharmacology, pediatrics, med surge And my year of clinical so I am ready to take my exit exam in order to sit for my RN Exam. Once I take my RN exam and pass that I will be able to get accepted into the Bachelors program, to complete that program I will gave a lot of papers to complete On history as well as the clinical aspects of nursing, I will have to do a few week Internship In order for me to qualify to be able to receive my bachelors. It will Take about a year for Me to receive my bachelors from my associates degree give or take a little more or little Less time. After that is complete I will move onto my process of being accepted to The masters program. Once I am officially accepted into my masters program I will have Almost a year of classes such as advanced pediatrics, advanced acute care, advanced Family practice, advanced women’s health and a basic nurse practitioner course, also Primary care on the adults and the aged. My instructor will have to make sure I pass Every course with a 3. 5 or better GPA in order for me to pass the program. I will Have several hands on clinicals with live patients as well as dummies. I will also have Several research papers I will have to do in order to complete my program . This process Will take quite a few years to complete, considering I am doing this process in a step By step manner. But I like to learn all aspects of this field and what the limits of practice Are for each title, I would also like to learn the acute care versus the trauma care, Surgical care, pediatrics care, and OB care before I move into the full blown Nurse practitioner care when I am not working fully one on one with a certain patient At all times, that is why I want to take this process slow and learn all aspects before I focus solely on one thing. And that is what it will take me to receive my all time goal Of a Nurse Practitioner. How to cite Nursing and Nurse Practitioner, Essay examples