Internet customer acquisition strategy at Bankinter

Consumer relationship management: Case study Bankinter Remco Wezepoel 14/10/2013 Which channel (8700, alliances, e-collaborators) performs better for the bank, and why? And what acquision strategy would you recommend to Bankinter? What actions should be taken by Ana Peralta? In order to choose the best consumer acquisition strategy for Bankinter it is necessary to look at the profitability of the customers. It is nice to have a lot of customers, but this does not really make sense when these customers ensure your company with losses. It is important to look at the profitability of customers in the long-term. Based on exhibit 11 in the article, it is possible to calculate the average consumer equity. As you can see in appendix 1,†¦show more content†¦Transactions were done from the Bankinter site, so it was hard for competitors to get expertise in their online system. More insight in customer behavior, so ability to analyze the customers properly. In my opinion, the strategy of the company is smart and adopting to current developments. With the growth of the internet it was a must (and a missed chance if there was not) to focus on this medium. Bankinter did that with the alliances. While the alliances resulted in more new customers, the price was quite high, the brand was too much hidden and the competitors copied the banks’ strategy. So Bankinter started with the e-collaborations. These high-traffic-websites approach collaborations generated even more customers (exhibit 1 in the article). These customers were attracted by providing them with incentives. This e-collaborations approach resulted in lowered customer acquisition costs and made it possible to set up a proper consumer relationship management system, which provided the company with insight in the behavior of the customers. According to the case, the changes which the bank has made generated new customers with a higher customer equity. However, the overall strategy is a little unclear to me. Besides that, nothing is said about the performances of the competitors at the same moment in time. Were they also gaining in their customers? Or did they lose customers? And if so, was this because of the changes which Bankinter made or did they wentShow MoreRelatedBankinter analysis1629 Words   |  7 Pagesï » ¿BANKINTER INTRODUCTION TARGET Intro: The case begins with Ana Peralta,(Director of the Internet Network at Bankinter) analyzing the success of Bankinter’s foray into e-banking through a progressive portalization strategy executed through E-collaborator. This approach was a great success for the Bank nearly doubling the number of new clients with lower costs involved. Riding on this positivity, their stock doubled within a month! There was no doubt that the success of the internet businessRead MoreNissan Strategic Management Report3777 Words   |  16 Pageswe can see Nissans market share is shown in the figure below. 2.1 GENERAL ENVIROMENT 2.1.1 SWOT ANALYSIS According to Grant, M.(2002), the allocation of the external and the internal factors of a company is commonly used for analyzing business strategies. The SWOT analysis (strengths-weaknesses-opportunities-threats) intends to point out the most important external and internal factors that are essential for the organization to accomplish their objectives. This analysis groups important information

The Struggle Of A Musical Genius - 1298 Words

The Struggle of a Musical Genius Wolfgang Amadeus Mozart had a short but meaningful life and left his mark on the musical world forever. Mozart was a musical prodigy all of his life starting to learn the keyboard at age three with his sister at the age of seven. By the age of six Mozart could play multiple instruments for the public. Mozart’s talents in music reach further than playing instruments; he once listened to a piece played only a single time in concert and wrote the entire score from memory with only a few minor errors. With all of this talent crammed into just one person, one would think that he would be payed quite a lot of money, and live in the lap of luxury, but would be sadly wrong. Mozart’s life was a struggle for money. With his father also being a composer there was not much money coming in, which was another reason Mozart started performing at such a young age. Mozart and his family members were also frequently ill; which put a damper on the income. With Constanze Mozart, Mozartâ⠂¬â„¢s wife, constantly being ill, she would frequently go to health spas to get better. When Mozart was in need of money he would ask his brother Mason Michael Buchberg for help. Mozart’s talent would have made him rich if he had done it right. Mozart’s father was in control of his earnings so it is unknown of his true income. Mozart wasn’t aware of this. He was always warned to be careful to avoid women who were after him for his money. Mozart’s mother even took him away toShow MoreRelatedMusic of Robert Schumann as a New Stage in the Development of Romanticism1023 Words   |  4 Pagesâ€Å"confession† in music. Schumann’s piano music, for instance, Kreisleriana, Op.16 and the Symphonic Etudes, op.13, are truly a musical encyclopedia of the human soul with many nuances and tones, with shades of colors of joy, sorrow, anguish, doubt and struggle, dreams and anxieties, rush, despair, faith and courage. E.T.A. Hoffmann in his writing â€Å"Dichtungen und Schriften† defined genius as a person who is able â€Å"to touch us, to move us mightily, the artist himself must be deeply affected in his own heartRead MoreBeethoven, Symphony No 3 ( Eroica )1447 Words   |  6 PagesBeethoven, Symphony No. 3 (Eroica) Ludwig van Beethoven was one of the greatest composers and a musical genius. Beethoven was born on December 16, 1770 in Bonn, Germany and died on March 26, 1827 in Vienna, Austria. Beethoven came from a family of musicians just like many other great composers before him had. At the age of only 11 Beethoven began serving as an assistant to the court organist and had several published piano compositions at the age of 12. At the age of 18, he became the legal guardianRead MoreEssay about Bachs Life and Music1721 Words   |  7 PagesMusic He was a musical genius with thousands of musical compositions written in his lifetime. 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Their son Gabe, died as an infant, but the mother has b een hallucinating him, growing up with the rest of the family as if he never died.Read MoreBob Marley: His Music and Spirituality1394 Words   |  6 Pagesabroad. The world discovered Marley as the genius of Reggae music; his spirituality connected the music as a medium of entertainment and fulfillment. Marley was born in the rural parish of St. Ann, Jamaica during the month of February 1965. He was a mulatto. His father was of European descendent and mother of African descendent. Marley was abandoned by his father. He developed a great relationship with his classmate, named Buddy, who had the same musical interest as Marley. They both loved musicRead MoreMultiple Intelligences: How Do You Know if You Have an Intelligence?1267 Words   |  6 Pagesintelligence, but I believe and know that there are many kinds and I can see them all around me. Since intelligence is usually judged in IQ tests or just tests in school, many individuals are claimed to have average or little intelligence. They struggle in school, trying to learn math, English, reading; but they may excel in other places like sports, music, or relationships. This is where Howard Gardner’s Multiple Intelligences comes into play. He proposed that there are eight forms of intelligenceRead MoreA Brilliant Madness about John Forbes Nash Essay1458 Words   |  6 Pagescreative genius. Indeed, research has proven that the two conditions of psychology display similar characteristics, both behaviourally and genetically. Unfortunately, this subject remains quite ambiguous, and science may never fully grasp the concept (Griffith 626; Ludwig 5; Simonton; Neihart). Although it lacks in hard facts, many compelling theories arise from this field of study: a little madness may bolster creative genius, but too much madness can overpower the creativity and kill the geniu s. TheRead More Archetypal Characters and Symbols in The Phantom of the Opera1713 Words   |  7 Pages but untrained singer named Christine.   Erik, the Phantom, is a disfigured genius of many fields, including music, architecture, magic, and science.   His fatal flaw stems from his strong dislike and mistrust of the rest of the human race, which has been very unkind to him throughout his life.   He encounters Christine in the Paris Opera House, becomes infatuated with her, and initially claims to be her otherworldly musical tutor.   Conflict occurs when Christine is torn between Eriks dark and passionateRead MoreLudwig Van Beethoven: A Biography1318 Words   |  5 Pagesadulthood. Beethovens family was a musical one. His father Johann van Beethoven was court singer, though Johann was crippled by alcoholism that may have negatively impacted his abilities as a singer. 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Gender Imbalance Free Essays

If such a large gender imbalance continues, effects on Asian society will include having a bad economy, a slower birthrate and many detrimental psychological effects especially on Asian men. Firstly, there will be a bad economy if the trend of a large gender imbalance whereby there are many woman short, continues. This is due to two main reasons. We will write a custom essay sample on Gender Imbalance or any similar topic only for you Order Now Men will very likely subject to frustration based on the fact that they have no one to release any sexual pleasure on, hence many stay bachelors, despite the want to find a partner and settle down. Men will also lose any focus on work as they constantly think about â€Å"sex† and what-nots so when there is no focus put on their jobs, there will be no improvements or progress made, thus the economy is bound to slow down. Also, many men will stay unmarried as there is not enough women. Hence, if men do not get married, they would not need to purchase any additional supplies for both marriage and children needs, thus these industries supplying such products will have loses as the demand will be lesser than the supply. Secondly, Asia will meet with a slower birthrate.Take Singapore for example, already there is a huge problem with the slow birthrate – thus the government are stepping up efforts to kerb this problem. However, with the current gender imbalance, things will only detiororate. This is mainly due to men, who many stay bachelors , as they cannot find a suitable partner, they won’t get married thus they would not produce any babies. If this trend continues, the birthrates will fall by a lot, as for every woman Asia is short of , that is the possible number of men that will stay as bachelors , in this case 160 million – which is 40 times Singapore’s population, hence it is a very big number.Also, 160 million times the replacement rate of Asia will be the number of babies that can be given birth to , if there is no gender imbalance, thus there would be a huge difference and the birthrate will be very slow as these babies are not given birth to, based on the absence of 160 million women. Thirdly, Asian men will face with many negative psychological and sexual effects. They will have sexual frustration as they would have no place to let out their sexual desire- hence possibly turning to prostitution, which is wrong.Also, they will let out any sexual desires in the wrong place, leading to a wrong sexual orientation, which will also lead them to committing crimes and sins. The fact that a large majority will never get married will be a huge blow to them as they will never find a partner for life. This is due to the lack of 160 million women in Asian, thus these men will definitely face such effects. In conclusion, a large gender imbalance will lead to a bad economy, a slower birthrate and detrimental psychological effects , in the long run. How to cite Gender Imbalance, Essay examples

Readiness to Change Quality and Strategic Process Improvement

Question: Discuss about the Readiness to Changefor Quality and Strategic Process Improvement. Answer: Introduction: Readiness to change an organization had been defined as a multi standard construct that indicated the collective commitment of the members of the organization to undergo changes. It had been considered as a function of variables depending on the importance given by the members and how cordially they had appraised the primary determinants of the implementation means, like the resource availability, task demands and the situational factors (Madsen, John Miller, 2014). Various strategies had been recommended by experts to create the priority of establishing the change in an organization, unlike the readiness to change individually. The organizational one had not been much in debate for pervasive empirical study or theoretical developments, with limited scientific basis, that were needed to be unfolded (Vakola, 2014). In the following report the concept had been discussed, critically analyzed with its scope and impacts of the improvement of the method including professional and personal experiences reviewing relevant books and journals. Background: The readiness to change by the change management process was the continuance of activities or steps that were followed by project leaders and management teams such that the projects catch up its desired outcomes and individual transitions. It was important to measure the performances of the members and find out the levels and for that reason strategies for change could be imposed to detect the effective problems early (Bamford Forrester, 2010). The following elements had been determined for a successful change according to Proscis 3-Phase Process- Preparing for change, where the change management study was defined, preparation for the change in team and the sponsorship model was described. (Narciso Allison, 2014) Managing change, where the changes in plans were developed with implementing and taking actions for the plans. Reinforcing change, where the feedbacks were collected and analyzed, the manage resistance and gaps were diagnosed and celebration of success and implementation of the corrective actions had been done (Abdulkadhim et al., 2015). Establishing of Scope and its Impacts: Like any other methodology and disciplines, establishing of the scope for the readiness to change was also important. Distinctions were needed to differentiate what activities fall in the change management and what went according with the readiness to change (Sanchez Blanco, 2014). The problem that aroused for the readiness to change from the side of the small and medium size enterprises or the SME, were that they their properties were not mutually exclusive and indicated self reinforcing driving systems that had restricted their capability to get changed by some factors. The factors were concentrating mostly on the strong aspects to change, supplied by control and command management style, neglecting the proactive approach and choosing the reactive ones (Ates Bititci, 2011). The capability to integrate resources from productions with restricted buffers, whose properties had been efficiently changed by blocking, was also a crucial extension. By developing the speculative optimization models guidance was provided where to give effort on direct improvements for a particular state of system parameters. This was done as the timing and amount of development had been obtained in uncertainty. Lastly, different realistic models for improvement incorporated, had allowed the lot sizes to get reduced (Godinho Filho Uzsoy, 2014). Going with the Proscis taxonomy for the scoping of readiness to change, the scopes along with its impacts and examples had been like the following: Identifying the need for change- It had helped to recognize the external or internal stimulus leading to a change requirement that like the strategic planning, customer inputs, financial results, internal performance, regulatory changes, competitive threats and new business opportunities. Development and design of solutions- It left its impact make a solution needed to develop the overall performance based on identification like offering of new service and process design (Kumar Schmitz, 2011). Management of projects- It had helped in managing the budget, resources, scopes of technical design, tasks and implementation like the reporting of project, tracking and schedule development, planning of project and project oversight. Change management- It had encouraged the employees quickly, proficiently and totally make the changes needed in their every-day tasks like performance measurement, readiness assessments and resistance management (Kerzner, 2013). Evaluation of the Outcomes with Examples: The outcomes of readiness for developing business development through continuous process improvement under the light of process improvement, were the most trivially theorized and studied aspect, in which the social cognitive theory had suggested that when the readiness became highest, the members had been more likely to impose changes like practices, procedures and policies (Vakola, 2014). The process improvement, if asked to evaluate according to professional and personal experiences the instruments best fitting the structure of readiness to change could be like According to Dean Anderson and Linda Acherman Anderson, two professionals on organizational change having the experience of over thirty years had suggested successful models that had been very much different from the previous fundamental models. They had considered the change process not to be a linear one. It was because of the fact that the individuals did not follow a straight line while implementing, maintaining and understanding changes (Tudor, 2014). Let the example of tourism industry be taken. According to Joseph Lema, assistant professor of hospitality management program, having more than ten years of experience in the casino and hotel industry, the competitiveness of the tourism organizations had been the outcome of the skills and capability of the employees to quickly adjust the change. As a result of this the responsibility to perform had highly shifted toward the self directedness (Torres et al., 2015). Another model from professional experience was suggested by John Kotter on 1995, a very influential identity from this field. His model was the very first one to focus the vitality of leadership in implementation of a process improvement successfully. It not only thought out reference for every model to be subsequently developed, but also for the changes of leader, professional or manager (Kotter, 2013). Warren Bennis,a distinguished professor on business administration, had claimed on fashion industry that the changes might be introduced keeping the employees aware, because, if the changes were imposed slowly, it might had gone unnoticed or the company might become used to, to the gradual change. In the other case, when the changes were so gradual that the people could not realize it, they continued to behave in the previous way (Bennis, 2013). Conclusion: The report had discussed about the outcomes developing a theoretical connection between the implementation of research and theory and readiness for change of an organization. It had gone through the determinate that had illuminated the basis of several strategies but it might not be necessary to analyze theoretically, how the planning worked. The theories explored had gone through focusing on the distinction between the desired and present levels of performance, arising disapproval and many other factors, or in other words, by improving the degrees up to which the members acquire changes required worthwhile or important. Finally it should be reminded, that the way of thinking might had been best suited where behavior changes occurred coordinating and collectively not only for the organizational change but also for the changes to create anticipated advantages. References: Abdulkadhim, H., Bahari, M., Bakri, A., Ismail, W. (2015). A Research Framework Of Electronic Document Management Systems (Edms) Implementation Process In Government.Journal of Theoretical and Applied Information Technology,81(3), 420. Ates, A., Bititci, U. (2011). Change process: a key enabler for building resilient SMEs.International Journal of Production Research,49(18), 5601-5618. Bamford, D., Forrester, P. (2010).Essential guide to operations management: concepts and case notes. John Wiley Sons. Bennis, W. (2013). Leadership in a digital world: embracing transparency and adaptive capacity.Mis Quarterly,37(2), 635-636. Godinho Filho, M., Uzsoy, R. (2014). Assessing the impact of alternative continuous improvement programmes in a flow shop using system dynamics.International Journal of Production Research,52(10), 3014-3031. Kerzner, H. (2013).Project management: a systems approach to planning, scheduling, and controlling. John Wiley Sons. Kumar, S., Schmitz, S. (2011). Managing recalls in a consumer product supply chainroot cause analysis and measures to mitigate risks.International Journal of Production Research,49(1), 235-253. Kotter, J. (2013). Management is (still) not leadership.Harvard Business Review,9. Madsen, S. R., John, C. R., Miller, D. (2014). Readiness for Change. Sanchez, L. Blanco, B. (2014) Three decades of continuous improvement, Total Quality Management Business Excellence, 25 (9/10) pp. 986-1001. Torres, E. N., Stylos, N., Gallarza, M. G., McGinley, S. P. (2015). CrossRef citations Altmetric.Journal of Hospitality Marketing Management. Tudor, L. (2014, November). Change managementchallenge and opportunity for sustainable development of Romanian companies. InProceedings of the International Management Conference, Faculty of Management, Academy of Economic Studies, Bucharest, Romania(Vol. 8, No. 1, pp. 466-476). Vakola, M. (2014). What's in there for me? Individual readiness to change and the perceived impact of organizational change.Leadership Organization Development Journal,35(3), 195-209