Strategies and Concepts in Research Design

Strategies and Concepts in Research Design Chapter 3 METHODOLOGY RESEARCH DESIGN According to Saunders et al (2005), design of a research can be exploratory, explanatory or descriptive in nature. The shade of the research decided by its aims and objectives lays down the design or blueprint of the research. As far as an exploratory research is concerned, it tries to assimilate fresh views with the theme or subject thereby evaluating a scenario from the perspective of innovation. As observed by Saunders et al (2005), an exploratory research recognizes and evaluates an exploratory issue that is in line with the research process extracted from the perusal of the literature or academic writings and compilation of primary data. The benefit of carrying out an exploratory research is that it can be amended as per the needs. The researcher enjoys the freedom to steer the research in any direction at any phase of it. At the same time, an explanatory research tries to display the factual state of an event or process. As noted by Saunders et al. (2005), this sort of research can be specified at later segment of investigative study, where a lucid picture of the occurrence or state of affairs is required prior to moving forward in the exploration. So far as explanatory research is concerned, according to Saunders et al (2005), it makes efforts to evaluate linkage in between parameters. A research of this type includes a precise course taking into view the experiments undertaken by means of numerical techniques. Deciding about the design of a research broadly depends on the nature of the research which is determined by the aims and objectives of the research. For this research, the aim was to study the customer relationship management of State Bank of India and its competitive advantage. The research was to achieve following objectives: to review extent conceptual models and theoretical framework related to relationship marketing; to identify how relationship marketing could be used as a strategic tool for competitive advantage; and to recommend strategic frameworks for relationship marketing. This research mainly required exploration regarding the relationship between customer relationship management and competitive advantage in relation to State Bank of India. Therefore, the design of this research was defined as exploratory. RESEARCH PHILOSOPHY The philosophy of a research can be positivism or interpretivism ( Zikmund, , 2000). Positivism philosophy is based on the belief that the truth of life free from a particular observer, and that authenticity is separated from a man who studies it. On the other hand interpretivism is based on the belief that truth is invented or tolerated under the supervision of observers and realism, not comparative disconnected from those who study it. With these key beliefs, positivism, depends on the experiments and rationale for determining (Esterby-Smith, 2002). Interpretivism depends on personal interviews and observations to illustrate professed truth. In positivism, the theory attempts to divine principles and laws that explain, clarify, predict and control outcomes. Positivism research is based on the point of view, which confirms the lone true facts are the scientific information that can be easily obtained by adhering strictly to the scientific method. In positivist science, a theory is a device used as a hypothesis, the structure of the test (Zikmund, 2000). On the contrary to positivism, interpretivism relate to a phenomenological paradigm, arguing that the world is subjective (Esterby-Smith, 2002). Interpretivism research attaches importance to the meaning and trying to understand what is happening and this is likely to argue that the rich understanding of this composite, the world loses if the complexity of the social world is completely reduced to a series of laws, such as simplifications. This research had nothing to do with the scientific research or adopting positivism philosophy. In more clear words, this research was neither based on hypotheses testing nor based on examining theories. Therefore, certainly the philosophy of this research was interpretivism, where the researcher had to reveal subjective information regarding the chosen research subject- customer relationship management of State Bank of India and its competitive advantage. Adopting interpretivism philosophy in this research, firstly literature review was conducted and thereafter first hand data was collected approaching target sample from various banks in India and particularly from State Bank of India. RESEARCH APPROACH The approach of a research can be deductive or inductive (Easterby- Smith, 2002). Deductive research is an approach perusing from the general to the precise. Each so frequently, this casually terms as top-down the approach (Easterby- Smith, 2002). Here we can begin further to think upward on a theory relative to our theme of a study. We then narrow that down into the precise of assumption that we can examine. We reduce downward but we move whilst we gather observations to be present on to the assumptions (Denscombe, 2003). This is final it conducts us to be to competently examine assumptions with precise data, corroboration or discharge of our inventive theories. Inductive research is an approach based with design peruses another road, moving from the precise observations to the more extensive generalizations and the theories. Casually, these are term as approach to the bottom is raised raise upward (Easterby- Smith, 2002). In the inductive approach, we begin further with the precise observations and the measurements; begin to further reveal pictures and regularities make some preliminary assumptions which we can investigate, and then we end upward on to lengthen some extensive conclusions. A research based on interpretivism philosophy is suggested to conduct having inductive research approach. Therefore, this research was conducted adopting inductive research approach. In accordance with the norms of inductive research approach, a research process was followed starting from bottom and reaching to top. In more clear words, firstly research issues were identified reviewing the literature and therefore specific data was collected approaching the target sample in order to make conclusions. RESEARCH METHOD Over the years of hypothetical bases and theoretical foundations and viewpoints, in line with explorations in any other domain, business and management research has undergone changes. In actual sense, exploration is an activity that individuals initiate so as to discover something in a systematic fashion, thereby enhancing their awareness (Saunders et al, 2003). A research is not a research in true sense and will not yield anything expected in case it is not undertaken in a disciplined fashion, that is to say, it needs to have a clear-cut aim and data compilation should be performed alongside interpretation without which it cannot be called an exploration. The exploration provides an insight into the linkage between the pertinent domain of exploration and participants and expectation at varied space of time extent. The investigators employ techniques and tools approved by the academic writings in terms of on -paper or verbal work evaluations, skills, the use of important ideas, secto r concerns and exploration practices linked. Quantitative and qualitative can be the two kinds of the techniques employed for the purpose of exploration. The further discussion highlights the points of distinction between these two forms of management research tools in the light of the academic writings. The qualitative technique or method is employed in the domain of social sciences for the purpose of looking into cultural and social events. The qualitative tools are then put into the categories of action exploration, participant experience and ethnography sampling. The avenues of qualitative data are interviews and questionnaires, case studies, focus-group observation, records and writings, participant experience, and the explorers perceptions and responses. In case of this kind of investigation, there may be differences in the understanding of different social and cultural traits; usually data evaluation differs with the investigators (Saunders et al, 2003). The qualitative tools of explorations have the merits of compiling fine, approved data pertaining to human perspectives and issues, considering the different parameters that may have bearings on the responses. At the same time, this paradigm also has a demerit_ it takes long time and is strenuous. Earlier, the quantitative technique was employed for the purpose of exploring the natural events in the domain of natural sciences. The data compiled during the quantitative research are quantifiable, trustworthy, and can be usually universalized to a bigger chunk of audience (Saunders et al, 2003). Negligence of different aspects of influential research is the most observed demerit of quantitative research. The quantitative research includes the techniques like surveys, econometrics, sampling, laboratory tests and a number of statistical data testing tools. The quantitative research provides a broad domain of research. For the purpose of the present research, both qualitative and quantitative methods have been employed. Qualitative method was employed for the purpose of the literature review and quantitative approach was employed to gather first- hand or primary data on the recognized exploration topics by means of literature read-through. DATA COLLECTION Primary and secondary are the two techniques of data compilation (Saunders et al., 2005). Considering research sketch and intention, both primary and secondary techniques of data compilation was employed for the purpose of the present research. Secondary Data The compilation of secondary data is done from the secondary avenues that are extracted from in-print or unpublished sources (Parasuraman et. 2004). The secondary data made use of in an exploration is not compiled for the present research. Secondary data have certain merits and demerits. In the opinion of Kotabe (2002), the merits of secondary data collection are varied, of which some are mentioned here: conveniently accessible, less-cost incurring, quick reach. Secondary data lays down the base for the compilation of the primary data. Nonetheless, it is a demerit of the secondary data that it cannot cater to all the requisites of a particular inquiry. The argument here is that secondary data accessible is gathered for its own precise objectives. Hence, the researcher cannot blindly make use of the data lying to his or her disposal. Moreover, the secondary data also cannot claim precision in context to timeliness. Notwithstanding these demerits, secondary data enable the investigator in explaining the inquiry issues, inquiry paradigm, and accomplishing probes aims, stated Malhotra (2004). Merits of Secondary Data Secondary data is convenient to achieve, less-cost incurring, and quick to reach. Secondary facilitates the identification of inquiry issue, development of inquiry paradigm and preparation of inquiry questions (Kotabe, 2002). Demerits of Secondary Data Secondary data happen to be the information compilation for other exploration aims and hence its application is confined to other particular exploration. Notwithstanding that there are different demerits of using secondary data, it enables the definition of exploration issue, decision of exploration paradigm and accomplish investigation aims. For the purpose of the present inquiry, the secondary data was compiled from the published sources like books, journals, newspapers and websites. Primary Data Primary data is the data collected for a particular probe, that include a number of phenomena causing it to be time-consuming and expensive (Malhotra, 2004). Obviously, primary data compilation relates to all structured for the particular inquiry and hence yields errorless data in context to the event, nonetheless, gathering primary data not as convenient as the secondary data. This necessitates time and expenses. So as to address the research issue in question, an explorer chooses to gather primary data, which is time-consuming, and expensive enterprise. A researcher can be inclined to opt for specific primary data compilation from the probable techniques in terms of observation, interviews, questionnaire survey and case studies (Saunders et al., (2005). For the purpose of the present researcher, the researcher chose to use questionnaire survey technique. In case of survey method, a sample of targeted individuals was interviewed by means of a questionnaire. The survey was conducted in an informal manner and all the answers were dealt with full confidentially. The aim of carrying out survey was to ensure a real image of the information and also achieve participants assessment of the positive and negative answers in context to varied issues. Structuring the questionnaire was the most important segment of a questionnaire survey. For this purpose, care should be observed while preparing the most pertinent and suitable questions. The researcher needed to have a clear insight into the theme, the aims of the exploration and description of the participants (Parasuraman, 2004). So as to cater to the research requisites, the researcher tended to be objective, recognized, and pertinent while structuring the questionnaire. The investigator could structure open or close-ended questions. Keeping in view the preciseness of the questions nature, the investigator structured only close-ended questions. In all, there were just 10 close-ended questions. The questions included in the questionnaire were arranged in an order beginning from the introduction of the part of the domain. Personal questions were not included in the questionnaires, or any sort of such questions, that may be anti-individual sentiments. Primary data was collected in this research as well through interviews. The interviewees were conducted in the structured format and the interviewees were Senior Marketing Managers in State Bank of India (working in New Delhi based Headquarters, Parliament Street). The number of interviews was 5 and the interviews had to respond in accordance with the asked open-ended questions. SAMPLING TECHNIQUE Saunders et al (2004), in this view, opines that approaching the suitable sample of respondents is important for the dependability of the research and so there is a need to chart a cautious plan to select and reach the suitable respondents. In case of questionnaire survey, the researcher necessitates to select the sample to be interviewed. In technical terms, this is said to be sampling. The sampling method varies from probability (randomly) to non-probability (convenient) (Saunders et al., 2005). In this researcher, the research chose the non-probability (convenient) method of sampling, wherein the sample was chosen from various India based banks (who were working Delhi based branches). The respondents were Marketing Managers of the banks. The number of respondents was 30 and all were approached conveniently without any prior certainty of to be chosen. DATA ANALYSIS This research was basically conducting having qualitative method; therefore, data analysis was conducted applying qualitative data analysis method. In qualitative data analysis, data coding includes the process of data evaluation, wherein all sorts of data are recorded making use of numerical codes since it helps investigator to feed the data speedily with minimal errors. Moreover, there are three stages of coding, open coding, axial coding and selective coding (Saunders et al, 2004). Consequently, in the first stage of coding, the compiled data was translated into theoretical units and was accorded a label, where same level was accorded to similar units of data. In the second stage, the establishment of linkages between categories of data is done that is received as a result of first. Lastly, in the third stage, major categories were recognized as core category. The Microsoft Excel software was employed for the purpose of assessment of data. The data coding includes the process of d ata evaluation, wherein all sorts of data are recorded making use of numerical codes since it helps investigator to feed the data speedily with minimal errors. ETHICAL ISSUES The ethical issues in the research were primarily concerned to confidentiality and anonymity of the research participants. For confidentiality, the researcher maintained confidentiality the facts shared by the research participants all through the research process, and as well the names of the research participants were kept anonymous. RELIABILITY AND VALIDITY Reliability of this research lies in sharing actual facts by the research participants as they were assured of not disclosing their name; and the validity lies in properly answering the research questions through summarizing the findings. Chapter 4 FINDINGS AND ANALYSIS INTRODUCTION The rationale of conducting data analysis in this research is to answer the research questions developed. Since a particular research question relate to various questions in the questionnaire, therefore the contents of the data analysis are in accordance with the sequence of questions in the questionnaire. For every section, firstly the literature is discussed from where the question is made. Thereafter data collected on various banks level and State Bank of India level is analysed. DATA FINDINGS AND ANALYSIS Relationship marketing and level of implementation For the research literature, definitions of relationship marketing are without a clear agreement on its nature or specification of its context and application-level (Gummesson 2002; Parvatiyar and Seth 2000). The term used to describe a relationship at the individual, and at the organizational level, with terms such as affinity marketing, loyalty marketing, cross selling, up selling, co-branding, joint marketing, customer-supplier partnership, the personal one-to-one key account management and marketing decisions (Sheth and Parvatiyar 2002), and there was a failure to clearly delineate, enumerate, and to combine these two elements (i.e. relations and marketing). Recently, Gummesson (2002) emphasizes the long-term relationships and has taken a very broad interpretation, referring to the overall relationship marketing. Seth and Parvatiyar (2002) widened it more by signifying that it is one-to-one communication flanked by the marketer and the customer is an interactive process, not an e xchange business, and this value-added activities based on shared collaboration and interdependence between suppliers and customers. Relationship marketing therefore can be viewed as a very extensive type of somewhat long-term individual business affiliation with the degree of teamwork and interdependence, which is dependent on the anticipation of fulfillment of assurances in exchange for interactive marketing. In the light of these revelations, the issue of study in this research was as relationship marketing for banks in India generally works more on which level(individual or organizational level). The data collected in this regard reveals that relationship marketing generally works more on individual level (than organisational level) so far as banks in India are concerned (see Table and Figure 4.1). For State Bank of India, the interviews reveal that the bank rather focus on organizational level of relationship marketing than individual level. The first question asked from the Marketing Managers of various banks in India was, relationship marketing for their bank generally works more on which level (individual level or organizational level). The response in majority comes outlining individual level. As according to the data shown in the above table, for majority of respondents (63% of the total 30), relationship marketing for their bank generally more works on individual level; whereas for the remaining respondents (37%), relationship marketing for their bank generally works on organisational level. On the whole these data conclude that relationship marketing generally works more on individual level (than organisational level) so far as banks in India are concerned. Establishing bond of relationship and relationship framework In accordance with the research literature, at the core of relationship marketing is an exchange that is beneficial to the parties involved in the exchange. The concept of the exchange as it applies to marketing can be viewed with any transaction cost analysis approach or a social approach, the theory of exchange. Transactions are divided into discrete transactions and relational operations. Relational contract is governed by the law of relational operations. In classical contract law, which governs the discrete individual members of the operation is not relevant, but this is not true of marketing (Rusbult and Van Lange 2003). In a relational contracting point of transition from the agreement (as in classical contract law), against itself as it is with time. There may or may not be the original agreement, and if so, can not be any great respect for him. In relational transactions reduced the gap between the contractual parties, as this ratio becomes stronger and stronger. The main ai m of relationship marketing is the creation of the interest thereon, to minimize information search, and it is unlikely that present moral dilemmas, but rather, through the coordination of activities to achieve results mutually beneficial. Redesigning, relationship marketing is a very broad relatively long term, voluntary, individual, business associations with the degree of emotional commitment, trust, intimacy, cooperation and interdependence(Rusbult and Van Lange 2003), which is based on the assumption of a shared , the promises of interactive marketing exchange on a reciprocal basis. In the light of these revelations, the issue of study in this research was as which aspect of relationship framework best works as establishing bond of relationship between banks in India and their clients. The data collected in this regard reveals that trust and cooperation as aspects of relationship framework best works establishing bond of relationship between banks in India and their clients (se e Table and Figure 4.2). For State Bank of India, the interviews reveal that the bank focuses on trust and interdependence aspects of relationship framework best works establishing bond of relationship with the clients. The second question asked from the Marketing Managers of various banks in India was, which of relationship framework best work as establishing bond of relationship between their bank and clients. The response in majority comes outlining trust and cooperation. As according to the data shown in the above table, for majority of respondents (67% of the total 30), trust (37%) and cooperation (30%) as aspects of relationship framework best works as establishing bond of relationship between their bank and the clients; whereas for the remaining respondents (33%), interdependence (13%), emotional commitment (10%) and intimacy (10%) as aspects of relationship framework best works as establishing bond of relationship between their bank and the clients. On the whole, these data conclude that trust and cooperation as aspects of relationship framework best works establishing bond of relationship between banks in India and their clients. Approach of relationship marketing For the research literature, the repeated use of the term relationship marketing (Brodieet al,1997). They suggested that relationship marketing applied at four levels. At the first level, relationship marketing, technology-based database marketing tool. At the second level, relationship marketing focuses on the relationship between business and its customers, focusing customer retention. At the third level, relationship marketing is a form of customer partnership with customers jointly participate in developing a product or service. The fourth and broadest level, relationship marketing was seen as including all of the databases for personal services, loyalty programs, brand loyalty, internal marketing, personal and social relationships and strategic alliances. Three characteristics are important for customers to desire continuity with the same supplier. These arevariability, complexity, participation (Berry, 1995). Furthermore, that relationship marketing is carried out at three leve ls. Level one relationship marketing is based primarily on price incentives to ensure customer loyalty. However, a sustainable competitive advantage is minimal at this level one, as pricing actions can be compared quickly. The second level of relationship marketing is based primarily on social networks, although the price remains a vital element. This includes personalization and adaptation of these relations.Relationship Marketing has been recognized in the ready-made marketing world, where it became apparent that a strategic competitive advantage could not be delivered on the basis of product characteristics, where alone and corporate profitability are beginning to be associated with satisfying existing customers (Egan, 2001). In the light of these revelations, the issue of study in this research was as which approach of relationship marketing is comparatively more beneficial for banks in India. The data collected in this regard reveals that focusing on client retention as approac h of relationship marketing is comparatively more beneficial than focusing on technology based data base marketing for banks in India (see Table and Figure 4.3). For State Bank of India, the interviews reveal that the bank by and large focuses on client retention as approach of relationship marketing. The third question asked from the Marketing Managers of various banks in India was, which of relationship marketing is comparatively more beneficial for their bank. The response in majority comes outlining on clients retention. As according to the data shown in the above table, for respondents in majority (67% of the total 30) focusing on clients retention as approach of relationship marketing is comparatively more beneficial for their bank; whereas for the remaining respondents (33%), focusing on technology-based data base marketing as approach of relationship marketing is comparatively more beneficial for their bank. By and large, these data conclude that focusing on client retention as approach of relationship marketing is comparatively more beneficial than focusing on technology based data base marketing for banks in India. Relationship marketing as competitive advantage tool In accordance with the research literature, competitive advantage as determined by the type of people the organization attracts and how these individuals to compete when they are players or staff. Therefore it is very necessary to recruit people who have high skills and can lead and develop a competitive culture in the organization. This is true for every business but not for those who have focused for some particular people or work force. This could also include the experience of the workforce which has to be recruited. These characteristics are as important as they seem to be but there is one more factor which is very important and work as a pushing force to compete in the market which guides to repeatedly contributing to the competitive culture of the organization. This is how the organization deploys, manages, reconfigures, or integrates with them (Peteraf and Bergen, 2003). This is not just with the systems that creates an advantage, but as they are occupied in operations in the system. It was here, in the Superior operations, advantages can be obtained. Again, the key is the quality of the person concerned, and how they function together for competitive advantage. This group is based on the operations in the responsibility of each individual in the organization and, as the rule tracks from a top manager it creates a sense of importance and steady concentration to feature whether the keys to the organization reap the benefits sought through what are essentially common systems in the competitive arena of the organization. A competitive culture creates the feeling that all opportunities to compete with a rival, as well as with itself. There is a positive feedback between the public interest and the success of overtime. These types of loops, both positive and negative, create difficulties in the system and create the dynamic behavior of organizations (Sterman, 2000). That is why we see a cluster of industries in the geographical area where a cluster of more a vailable pool of talent is available. Thus, creating and maintaining a culture of competition is a key component of efforts to achieve competitive advantage. In the light of these revelations, the issue of study in this research was as how is the role of relationship marketing as competitive advantage tool for banks in India. The data collected in this regard reveals that certainly the role of relationship marketing is highly effective as competitive advantage tool for banks in India (see Table and Figure 4.4). For State Bank of India, the interviews reveal that although relationship marketing is highly focused a strategy for the bank, yet the bank does not look relationship marketing as tool of competitive advantage. The fourth question asked from the Marketing Managers of various banks in India was, how is the role of relationship marketing as competitive advantage tool for their bank. The response in majority comes out as highly effective. As according to the data shown in the above table, for respondents in majority (60% of the total 30), they see the role of relationship marketing highly effective as competitive advantage tool for their bank; whereas for the remaining respondents (40%), they see the role of relationship marketing either effective (27%) or ineffective (13%) as competitive advantage tool for their bank. By and large, these data conclude that certainly the role of relationship marketing is highly effective as competitive advantage tool for banks in India. Areas of competitive advantage and relationship marketing For the research literature, linking aspects of relations with some degree of competitive advantage became a topic of growing interest in marketing and strategy scholars. Research in this area have focused on trust, commitment, mutual goals, power, social networks, transaction costs, information exchange, a kind of investment and management, each of which has been shown to affect the incidence of relationship based on competitive advantage (Morgan and Hunt, 1999) . However, only two authors have attempted to conceptualize the relations based on competitive advantages in a holistic sense (JAP 2001; Wilson 1995). The hypothesis that inter-firm connection can be the basis for accomplishing competitive benefits has received significant attention in the literature. A number of studies are on the way to explain this incidence (Morgan and Hunt, 1999). Personal qualities such as trust, commitment, mutual goals, power, social networks, transaction costs, information sharing, an investment and management of all it has been shown to affect the incidence of relationship based on competitive advantages (JAP 1999; Morgan and Hunt 1999; Wilson 1995). In the light of these revelations, the issue of study in this research was as in which area of competitive advantage, relationship marketing would be most successful for banks in India. The data collected in this regard reveals that in the competitive areas of managing social networks and managing information sharing, relationship marketing would be most successful for banks in India (see Table and Figure 4.5). For State Bank of India, the interviews reveal that the bank rather focuses on managing Strategies and Concepts in Research Design Strategies and Concepts in Research Design Chapter 3 METHODOLOGY RESEARCH DESIGN According to Saunders et al (2005), design of a research can be exploratory, explanatory or descriptive in nature. The shade of the research decided by its aims and objectives lays down the design or blueprint of the research. As far as an exploratory research is concerned, it tries to assimilate fresh views with the theme or subject thereby evaluating a scenario from the perspective of innovation. As observed by Saunders et al (2005), an exploratory research recognizes and evaluates an exploratory issue that is in line with the research process extracted from the perusal of the literature or academic writings and compilation of primary data. The benefit of carrying out an exploratory research is that it can be amended as per the needs. The researcher enjoys the freedom to steer the research in any direction at any phase of it. At the same time, an explanatory research tries to display the factual state of an event or process. As noted by Saunders et al. (2005), this sort of research can be specified at later segment of investigative study, where a lucid picture of the occurrence or state of affairs is required prior to moving forward in the exploration. So far as explanatory research is concerned, according to Saunders et al (2005), it makes efforts to evaluate linkage in between parameters. A research of this type includes a precise course taking into view the experiments undertaken by means of numerical techniques. Deciding about the design of a research broadly depends on the nature of the research which is determined by the aims and objectives of the research. For this research, the aim was to study the customer relationship management of State Bank of India and its competitive advantage. The research was to achieve following objectives: to review extent conceptual models and theoretical framework related to relationship marketing; to identify how relationship marketing could be used as a strategic tool for competitive advantage; and to recommend strategic frameworks for relationship marketing. This research mainly required exploration regarding the relationship between customer relationship management and competitive advantage in relation to State Bank of India. Therefore, the design of this research was defined as exploratory. RESEARCH PHILOSOPHY The philosophy of a research can be positivism or interpretivism ( Zikmund, , 2000). Positivism philosophy is based on the belief that the truth of life free from a particular observer, and that authenticity is separated from a man who studies it. On the other hand interpretivism is based on the belief that truth is invented or tolerated under the supervision of observers and realism, not comparative disconnected from those who study it. With these key beliefs, positivism, depends on the experiments and rationale for determining (Esterby-Smith, 2002). Interpretivism depends on personal interviews and observations to illustrate professed truth. In positivism, the theory attempts to divine principles and laws that explain, clarify, predict and control outcomes. Positivism research is based on the point of view, which confirms the lone true facts are the scientific information that can be easily obtained by adhering strictly to the scientific method. In positivist science, a theory is a device used as a hypothesis, the structure of the test (Zikmund, 2000). On the contrary to positivism, interpretivism relate to a phenomenological paradigm, arguing that the world is subjective (Esterby-Smith, 2002). Interpretivism research attaches importance to the meaning and trying to understand what is happening and this is likely to argue that the rich understanding of this composite, the world loses if the complexity of the social world is completely reduced to a series of laws, such as simplifications. This research had nothing to do with the scientific research or adopting positivism philosophy. In more clear words, this research was neither based on hypotheses testing nor based on examining theories. Therefore, certainly the philosophy of this research was interpretivism, where the researcher had to reveal subjective information regarding the chosen research subject- customer relationship management of State Bank of India and its competitive advantage. Adopting interpretivism philosophy in this research, firstly literature review was conducted and thereafter first hand data was collected approaching target sample from various banks in India and particularly from State Bank of India. RESEARCH APPROACH The approach of a research can be deductive or inductive (Easterby- Smith, 2002). Deductive research is an approach perusing from the general to the precise. Each so frequently, this casually terms as top-down the approach (Easterby- Smith, 2002). Here we can begin further to think upward on a theory relative to our theme of a study. We then narrow that down into the precise of assumption that we can examine. We reduce downward but we move whilst we gather observations to be present on to the assumptions (Denscombe, 2003). This is final it conducts us to be to competently examine assumptions with precise data, corroboration or discharge of our inventive theories. Inductive research is an approach based with design peruses another road, moving from the precise observations to the more extensive generalizations and the theories. Casually, these are term as approach to the bottom is raised raise upward (Easterby- Smith, 2002). In the inductive approach, we begin further with the precise observations and the measurements; begin to further reveal pictures and regularities make some preliminary assumptions which we can investigate, and then we end upward on to lengthen some extensive conclusions. A research based on interpretivism philosophy is suggested to conduct having inductive research approach. Therefore, this research was conducted adopting inductive research approach. In accordance with the norms of inductive research approach, a research process was followed starting from bottom and reaching to top. In more clear words, firstly research issues were identified reviewing the literature and therefore specific data was collected approaching the target sample in order to make conclusions. RESEARCH METHOD Over the years of hypothetical bases and theoretical foundations and viewpoints, in line with explorations in any other domain, business and management research has undergone changes. In actual sense, exploration is an activity that individuals initiate so as to discover something in a systematic fashion, thereby enhancing their awareness (Saunders et al, 2003). A research is not a research in true sense and will not yield anything expected in case it is not undertaken in a disciplined fashion, that is to say, it needs to have a clear-cut aim and data compilation should be performed alongside interpretation without which it cannot be called an exploration. The exploration provides an insight into the linkage between the pertinent domain of exploration and participants and expectation at varied space of time extent. The investigators employ techniques and tools approved by the academic writings in terms of on -paper or verbal work evaluations, skills, the use of important ideas, secto r concerns and exploration practices linked. Quantitative and qualitative can be the two kinds of the techniques employed for the purpose of exploration. The further discussion highlights the points of distinction between these two forms of management research tools in the light of the academic writings. The qualitative technique or method is employed in the domain of social sciences for the purpose of looking into cultural and social events. The qualitative tools are then put into the categories of action exploration, participant experience and ethnography sampling. The avenues of qualitative data are interviews and questionnaires, case studies, focus-group observation, records and writings, participant experience, and the explorers perceptions and responses. In case of this kind of investigation, there may be differences in the understanding of different social and cultural traits; usually data evaluation differs with the investigators (Saunders et al, 2003). The qualitative tools of explorations have the merits of compiling fine, approved data pertaining to human perspectives and issues, considering the different parameters that may have bearings on the responses. At the same time, this paradigm also has a demerit_ it takes long time and is strenuous. Earlier, the quantitative technique was employed for the purpose of exploring the natural events in the domain of natural sciences. The data compiled during the quantitative research are quantifiable, trustworthy, and can be usually universalized to a bigger chunk of audience (Saunders et al, 2003). Negligence of different aspects of influential research is the most observed demerit of quantitative research. The quantitative research includes the techniques like surveys, econometrics, sampling, laboratory tests and a number of statistical data testing tools. The quantitative research provides a broad domain of research. For the purpose of the present research, both qualitative and quantitative methods have been employed. Qualitative method was employed for the purpose of the literature review and quantitative approach was employed to gather first- hand or primary data on the recognized exploration topics by means of literature read-through. DATA COLLECTION Primary and secondary are the two techniques of data compilation (Saunders et al., 2005). Considering research sketch and intention, both primary and secondary techniques of data compilation was employed for the purpose of the present research. Secondary Data The compilation of secondary data is done from the secondary avenues that are extracted from in-print or unpublished sources (Parasuraman et. 2004). The secondary data made use of in an exploration is not compiled for the present research. Secondary data have certain merits and demerits. In the opinion of Kotabe (2002), the merits of secondary data collection are varied, of which some are mentioned here: conveniently accessible, less-cost incurring, quick reach. Secondary data lays down the base for the compilation of the primary data. Nonetheless, it is a demerit of the secondary data that it cannot cater to all the requisites of a particular inquiry. The argument here is that secondary data accessible is gathered for its own precise objectives. Hence, the researcher cannot blindly make use of the data lying to his or her disposal. Moreover, the secondary data also cannot claim precision in context to timeliness. Notwithstanding these demerits, secondary data enable the investigator in explaining the inquiry issues, inquiry paradigm, and accomplishing probes aims, stated Malhotra (2004). Merits of Secondary Data Secondary data is convenient to achieve, less-cost incurring, and quick to reach. Secondary facilitates the identification of inquiry issue, development of inquiry paradigm and preparation of inquiry questions (Kotabe, 2002). Demerits of Secondary Data Secondary data happen to be the information compilation for other exploration aims and hence its application is confined to other particular exploration. Notwithstanding that there are different demerits of using secondary data, it enables the definition of exploration issue, decision of exploration paradigm and accomplish investigation aims. For the purpose of the present inquiry, the secondary data was compiled from the published sources like books, journals, newspapers and websites. Primary Data Primary data is the data collected for a particular probe, that include a number of phenomena causing it to be time-consuming and expensive (Malhotra, 2004). Obviously, primary data compilation relates to all structured for the particular inquiry and hence yields errorless data in context to the event, nonetheless, gathering primary data not as convenient as the secondary data. This necessitates time and expenses. So as to address the research issue in question, an explorer chooses to gather primary data, which is time-consuming, and expensive enterprise. A researcher can be inclined to opt for specific primary data compilation from the probable techniques in terms of observation, interviews, questionnaire survey and case studies (Saunders et al., (2005). For the purpose of the present researcher, the researcher chose to use questionnaire survey technique. In case of survey method, a sample of targeted individuals was interviewed by means of a questionnaire. The survey was conducted in an informal manner and all the answers were dealt with full confidentially. The aim of carrying out survey was to ensure a real image of the information and also achieve participants assessment of the positive and negative answers in context to varied issues. Structuring the questionnaire was the most important segment of a questionnaire survey. For this purpose, care should be observed while preparing the most pertinent and suitable questions. The researcher needed to have a clear insight into the theme, the aims of the exploration and description of the participants (Parasuraman, 2004). So as to cater to the research requisites, the researcher tended to be objective, recognized, and pertinent while structuring the questionnaire. The investigator could structure open or close-ended questions. Keeping in view the preciseness of the questions nature, the investigator structured only close-ended questions. In all, there were just 10 close-ended questions. The questions included in the questionnaire were arranged in an order beginning from the introduction of the part of the domain. Personal questions were not included in the questionnaires, or any sort of such questions, that may be anti-individual sentiments. Primary data was collected in this research as well through interviews. The interviewees were conducted in the structured format and the interviewees were Senior Marketing Managers in State Bank of India (working in New Delhi based Headquarters, Parliament Street). The number of interviews was 5 and the interviews had to respond in accordance with the asked open-ended questions. SAMPLING TECHNIQUE Saunders et al (2004), in this view, opines that approaching the suitable sample of respondents is important for the dependability of the research and so there is a need to chart a cautious plan to select and reach the suitable respondents. In case of questionnaire survey, the researcher necessitates to select the sample to be interviewed. In technical terms, this is said to be sampling. The sampling method varies from probability (randomly) to non-probability (convenient) (Saunders et al., 2005). In this researcher, the research chose the non-probability (convenient) method of sampling, wherein the sample was chosen from various India based banks (who were working Delhi based branches). The respondents were Marketing Managers of the banks. The number of respondents was 30 and all were approached conveniently without any prior certainty of to be chosen. DATA ANALYSIS This research was basically conducting having qualitative method; therefore, data analysis was conducted applying qualitative data analysis method. In qualitative data analysis, data coding includes the process of data evaluation, wherein all sorts of data are recorded making use of numerical codes since it helps investigator to feed the data speedily with minimal errors. Moreover, there are three stages of coding, open coding, axial coding and selective coding (Saunders et al, 2004). Consequently, in the first stage of coding, the compiled data was translated into theoretical units and was accorded a label, where same level was accorded to similar units of data. In the second stage, the establishment of linkages between categories of data is done that is received as a result of first. Lastly, in the third stage, major categories were recognized as core category. The Microsoft Excel software was employed for the purpose of assessment of data. The data coding includes the process of d ata evaluation, wherein all sorts of data are recorded making use of numerical codes since it helps investigator to feed the data speedily with minimal errors. ETHICAL ISSUES The ethical issues in the research were primarily concerned to confidentiality and anonymity of the research participants. For confidentiality, the researcher maintained confidentiality the facts shared by the research participants all through the research process, and as well the names of the research participants were kept anonymous. RELIABILITY AND VALIDITY Reliability of this research lies in sharing actual facts by the research participants as they were assured of not disclosing their name; and the validity lies in properly answering the research questions through summarizing the findings. Chapter 4 FINDINGS AND ANALYSIS INTRODUCTION The rationale of conducting data analysis in this research is to answer the research questions developed. Since a particular research question relate to various questions in the questionnaire, therefore the contents of the data analysis are in accordance with the sequence of questions in the questionnaire. For every section, firstly the literature is discussed from where the question is made. Thereafter data collected on various banks level and State Bank of India level is analysed. DATA FINDINGS AND ANALYSIS Relationship marketing and level of implementation For the research literature, definitions of relationship marketing are without a clear agreement on its nature or specification of its context and application-level (Gummesson 2002; Parvatiyar and Seth 2000). The term used to describe a relationship at the individual, and at the organizational level, with terms such as affinity marketing, loyalty marketing, cross selling, up selling, co-branding, joint marketing, customer-supplier partnership, the personal one-to-one key account management and marketing decisions (Sheth and Parvatiyar 2002), and there was a failure to clearly delineate, enumerate, and to combine these two elements (i.e. relations and marketing). Recently, Gummesson (2002) emphasizes the long-term relationships and has taken a very broad interpretation, referring to the overall relationship marketing. Seth and Parvatiyar (2002) widened it more by signifying that it is one-to-one communication flanked by the marketer and the customer is an interactive process, not an e xchange business, and this value-added activities based on shared collaboration and interdependence between suppliers and customers. Relationship marketing therefore can be viewed as a very extensive type of somewhat long-term individual business affiliation with the degree of teamwork and interdependence, which is dependent on the anticipation of fulfillment of assurances in exchange for interactive marketing. In the light of these revelations, the issue of study in this research was as relationship marketing for banks in India generally works more on which level(individual or organizational level). The data collected in this regard reveals that relationship marketing generally works more on individual level (than organisational level) so far as banks in India are concerned (see Table and Figure 4.1). For State Bank of India, the interviews reveal that the bank rather focus on organizational level of relationship marketing than individual level. The first question asked from the Marketing Managers of various banks in India was, relationship marketing for their bank generally works more on which level (individual level or organizational level). The response in majority comes outlining individual level. As according to the data shown in the above table, for majority of respondents (63% of the total 30), relationship marketing for their bank generally more works on individual level; whereas for the remaining respondents (37%), relationship marketing for their bank generally works on organisational level. On the whole these data conclude that relationship marketing generally works more on individual level (than organisational level) so far as banks in India are concerned. Establishing bond of relationship and relationship framework In accordance with the research literature, at the core of relationship marketing is an exchange that is beneficial to the parties involved in the exchange. The concept of the exchange as it applies to marketing can be viewed with any transaction cost analysis approach or a social approach, the theory of exchange. Transactions are divided into discrete transactions and relational operations. Relational contract is governed by the law of relational operations. In classical contract law, which governs the discrete individual members of the operation is not relevant, but this is not true of marketing (Rusbult and Van Lange 2003). In a relational contracting point of transition from the agreement (as in classical contract law), against itself as it is with time. There may or may not be the original agreement, and if so, can not be any great respect for him. In relational transactions reduced the gap between the contractual parties, as this ratio becomes stronger and stronger. The main ai m of relationship marketing is the creation of the interest thereon, to minimize information search, and it is unlikely that present moral dilemmas, but rather, through the coordination of activities to achieve results mutually beneficial. Redesigning, relationship marketing is a very broad relatively long term, voluntary, individual, business associations with the degree of emotional commitment, trust, intimacy, cooperation and interdependence(Rusbult and Van Lange 2003), which is based on the assumption of a shared , the promises of interactive marketing exchange on a reciprocal basis. In the light of these revelations, the issue of study in this research was as which aspect of relationship framework best works as establishing bond of relationship between banks in India and their clients. The data collected in this regard reveals that trust and cooperation as aspects of relationship framework best works establishing bond of relationship between banks in India and their clients (se e Table and Figure 4.2). For State Bank of India, the interviews reveal that the bank focuses on trust and interdependence aspects of relationship framework best works establishing bond of relationship with the clients. The second question asked from the Marketing Managers of various banks in India was, which of relationship framework best work as establishing bond of relationship between their bank and clients. The response in majority comes outlining trust and cooperation. As according to the data shown in the above table, for majority of respondents (67% of the total 30), trust (37%) and cooperation (30%) as aspects of relationship framework best works as establishing bond of relationship between their bank and the clients; whereas for the remaining respondents (33%), interdependence (13%), emotional commitment (10%) and intimacy (10%) as aspects of relationship framework best works as establishing bond of relationship between their bank and the clients. On the whole, these data conclude that trust and cooperation as aspects of relationship framework best works establishing bond of relationship between banks in India and their clients. Approach of relationship marketing For the research literature, the repeated use of the term relationship marketing (Brodieet al,1997). They suggested that relationship marketing applied at four levels. At the first level, relationship marketing, technology-based database marketing tool. At the second level, relationship marketing focuses on the relationship between business and its customers, focusing customer retention. At the third level, relationship marketing is a form of customer partnership with customers jointly participate in developing a product or service. The fourth and broadest level, relationship marketing was seen as including all of the databases for personal services, loyalty programs, brand loyalty, internal marketing, personal and social relationships and strategic alliances. Three characteristics are important for customers to desire continuity with the same supplier. These arevariability, complexity, participation (Berry, 1995). Furthermore, that relationship marketing is carried out at three leve ls. Level one relationship marketing is based primarily on price incentives to ensure customer loyalty. However, a sustainable competitive advantage is minimal at this level one, as pricing actions can be compared quickly. The second level of relationship marketing is based primarily on social networks, although the price remains a vital element. This includes personalization and adaptation of these relations.Relationship Marketing has been recognized in the ready-made marketing world, where it became apparent that a strategic competitive advantage could not be delivered on the basis of product characteristics, where alone and corporate profitability are beginning to be associated with satisfying existing customers (Egan, 2001). In the light of these revelations, the issue of study in this research was as which approach of relationship marketing is comparatively more beneficial for banks in India. The data collected in this regard reveals that focusing on client retention as approac h of relationship marketing is comparatively more beneficial than focusing on technology based data base marketing for banks in India (see Table and Figure 4.3). For State Bank of India, the interviews reveal that the bank by and large focuses on client retention as approach of relationship marketing. The third question asked from the Marketing Managers of various banks in India was, which of relationship marketing is comparatively more beneficial for their bank. The response in majority comes outlining on clients retention. As according to the data shown in the above table, for respondents in majority (67% of the total 30) focusing on clients retention as approach of relationship marketing is comparatively more beneficial for their bank; whereas for the remaining respondents (33%), focusing on technology-based data base marketing as approach of relationship marketing is comparatively more beneficial for their bank. By and large, these data conclude that focusing on client retention as approach of relationship marketing is comparatively more beneficial than focusing on technology based data base marketing for banks in India. Relationship marketing as competitive advantage tool In accordance with the research literature, competitive advantage as determined by the type of people the organization attracts and how these individuals to compete when they are players or staff. Therefore it is very necessary to recruit people who have high skills and can lead and develop a competitive culture in the organization. This is true for every business but not for those who have focused for some particular people or work force. This could also include the experience of the workforce which has to be recruited. These characteristics are as important as they seem to be but there is one more factor which is very important and work as a pushing force to compete in the market which guides to repeatedly contributing to the competitive culture of the organization. This is how the organization deploys, manages, reconfigures, or integrates with them (Peteraf and Bergen, 2003). This is not just with the systems that creates an advantage, but as they are occupied in operations in the system. It was here, in the Superior operations, advantages can be obtained. Again, the key is the quality of the person concerned, and how they function together for competitive advantage. This group is based on the operations in the responsibility of each individual in the organization and, as the rule tracks from a top manager it creates a sense of importance and steady concentration to feature whether the keys to the organization reap the benefits sought through what are essentially common systems in the competitive arena of the organization. A competitive culture creates the feeling that all opportunities to compete with a rival, as well as with itself. There is a positive feedback between the public interest and the success of overtime. These types of loops, both positive and negative, create difficulties in the system and create the dynamic behavior of organizations (Sterman, 2000). That is why we see a cluster of industries in the geographical area where a cluster of more a vailable pool of talent is available. Thus, creating and maintaining a culture of competition is a key component of efforts to achieve competitive advantage. In the light of these revelations, the issue of study in this research was as how is the role of relationship marketing as competitive advantage tool for banks in India. The data collected in this regard reveals that certainly the role of relationship marketing is highly effective as competitive advantage tool for banks in India (see Table and Figure 4.4). For State Bank of India, the interviews reveal that although relationship marketing is highly focused a strategy for the bank, yet the bank does not look relationship marketing as tool of competitive advantage. The fourth question asked from the Marketing Managers of various banks in India was, how is the role of relationship marketing as competitive advantage tool for their bank. The response in majority comes out as highly effective. As according to the data shown in the above table, for respondents in majority (60% of the total 30), they see the role of relationship marketing highly effective as competitive advantage tool for their bank; whereas for the remaining respondents (40%), they see the role of relationship marketing either effective (27%) or ineffective (13%) as competitive advantage tool for their bank. By and large, these data conclude that certainly the role of relationship marketing is highly effective as competitive advantage tool for banks in India. Areas of competitive advantage and relationship marketing For the research literature, linking aspects of relations with some degree of competitive advantage became a topic of growing interest in marketing and strategy scholars. Research in this area have focused on trust, commitment, mutual goals, power, social networks, transaction costs, information exchange, a kind of investment and management, each of which has been shown to affect the incidence of relationship based on competitive advantage (Morgan and Hunt, 1999) . However, only two authors have attempted to conceptualize the relations based on competitive advantages in a holistic sense (JAP 2001; Wilson 1995). The hypothesis that inter-firm connection can be the basis for accomplishing competitive benefits has received significant attention in the literature. A number of studies are on the way to explain this incidence (Morgan and Hunt, 1999). Personal qualities such as trust, commitment, mutual goals, power, social networks, transaction costs, information sharing, an investment and management of all it has been shown to affect the incidence of relationship based on competitive advantages (JAP 1999; Morgan and Hunt 1999; Wilson 1995). In the light of these revelations, the issue of study in this research was as in which area of competitive advantage, relationship marketing would be most successful for banks in India. The data collected in this regard reveals that in the competitive areas of managing social networks and managing information sharing, relationship marketing would be most successful for banks in India (see Table and Figure 4.5). For State Bank of India, the interviews reveal that the bank rather focuses on managing

Japanese Society Yakuza

It is said quite often that Japan is one of the safest countries in the world, what I comparing to Germany or other countries can confirm from my own experiences. With only 19. 177 per 1,000 people got Japan #34 in a world crime ranking, while Dominica rates #1, United Kingdom #6, USA # 8 and Germany #11. (United Nations, 2000) Nevertheless japanese families, in our case homestay families, are all the time in my view exageratedly concerned about safety, wherefore you could think, that this is just useless talk. But the Yakuza , the japanese Mafia is famous all over the world with Kobe and Osaka having the highest crime rate in Japan. Especially in movies, the Yakuza are shown as the japanese equivalent to the italian Mafia, but in personal interviews with my former hostmother and other japanese colleagues Yakuza were often played down and even portrayed as nice and helpful. In the city i live – Kobe – is the headquarterof the Yamaguchi – gang (), the largest Yakuza group with over 20000 members. They acutally control a large part of Japan and other countries. (Blathwayt, 2008, p. 41) Sometimes i see them when i go shopping or to the Kobe’s Mosque, because the headquarter of a gumi is around this area and I as well as other japanese people got used to them. It is quite easy to recognize them, because they stick out as buffed, tattooed (sometimes you can see that it is protrude from the shirt), wearing sunglasses (even at night) and having expensive cars. But of course like every other Mafia, they control popular, semi-legal or illegal businesses like prostitution, drugs, protection racket and gambling. However there seems to be a big influence by the Yakuza on Japanese society. In this report, i will examine, what kind of influence the Yakuza have on the Japanese society. In doing so i will take a look at parts of the sex industry, daily and business life, as well as in other areas like random smaller criminals as for example japanese biker gangs called Bosozoku and even normal teenagers next door. First of all i will start with the history of the Yakuza, why and how they developed and try to find here possible parallels of a influences on the modern society. Furthermore in the third part of the report, i will write about my personal experiences and experiences of friends and acquaintances, because such statement often say more than just â€Å"dry facts†. I will close my essay with a conclusion and try to give a forecast about whether the Yakuza will continue to exist the way it does today or whether it will change, as every society developes dynamically and continuesly. a. Origin of the Yakuza The word â€Å"Yakuza† means eight (â€Å"ya†), nine (â€Å"ku†) and three (â€Å"za†) and allegorizes a combination of numbers, that is considered to be the worst hand at a Japanese card game called â€Å"Oicho-Kabu† and though is worthless. (Parkanian, 2010,p. 15) The origin of the Yakuza is not clearly to allocate. Some people say that they are descendents of crazy outlandish samurai called kabuki-mono in the 17th-century, who were very conspicuous because of their outlandish clothes and hair styles. They also spoke a luxuriant slang and carried long swords in their belts. Those servants of the shogun, became leaderless ronin (wave men) and eventually rather thieves and gangsters during the Tokugawa era, an long period of peace in Japan. (Hill,2003,P. 37-40) Others claim their origin to be the gambling syndicates called â€Å"Bakuto† in the Edo period. They were people of humble birth, too, like farmers, craftmen or merchants, who lost their jobs and then had no other choice than entering the gambling syndicates. As mentioned before there was an extended time of peace during the Tokugawa Period in which almost all policemen were former samurai. Therefore there was a high tension between both parties, for example the Yakuza were called â€Å"wannabe samurai† without glorifying the way of the warrior (â€Å"Bushido†) and treated very condescending. Thus a kind of â€Å"Robin-Hood-Image† came up and that was the first steps into a solid influence on Japanese Society. During the Meiji Period their importance increased when a national hero called Jichiro, the boss of a gambling organization, got high merits because of his alignment to the emperor during the conflicts of the Meiji Restoration. After the end of the occupation period and the appreciativeness of Japan as sovereign state in 1952, a rebuild of the Japanese economy and national structures began, so the Yakuza reacted with a buildup of their own economic activities tool, focusing especially in gambling and the construction industry. The consequence was gang fights between the different Yakuza gangs. The state answered with a persecution, which led into a higher concentration of power on the three main Yakuza gangs : Inagawa-kai, Sumiyoshi-kai and Yamaguchi-gumi. In the 70’s and 80’s, when Japan got into a recession because of the famous â€Å"bubble economy†, the Yakuza took advantage of the situation to get access into the financial sector. Protection money extortion of stock corporations followed. In addition to that, there was a change of generations in the big syndicates during in the 80’s, thus again bloody gang fights were the consequences, but the situations changed as well. Blathwayt,2008,p. 36-41) For example younger Yakuza tended to break the old rules and standards by using fire arms and being more violent; Being one reason, why Yakuza organizations were banned by the government. In 90’s the Yakuza were still legal and their headquarters could be easily find. It was even possible to recognize the group those headquarters offices belo nged to and their position in the structure of the group. Yakuza bosses were at news conferences and on TV, they had their own newspapers and even visited the police for congratulations at New Year. Gunther, 1999) It was easy to recognize an influence of the Yakuza on Japanese society, especially in the financial or construction sector in earlier times. But how is the situation today, about 10 years after they were banned. How are they structured today, if as mentioned before a kind of development, respectively change, were coming up? And what are Japanese people thinking about them? b. Their role in today's Japanese society First of all Yakuza look different from the average Japanese guy. One sign are the tattoos, which is a taboo in Japanese Society. For me it was not really possible to wear a tank top during the summer without catching everybody’s attention. Referring to Bruno(2007) the â€Å"Yakuza members also favor tattoos, but theirs are elaborate body murals that often cover the entire torso, front and back, as well the arms to below the elbow and the legs to mid-calf. Dragons, flowers, mountainous landscapes, turbulent seascapes, gang insignias and abstract designs are typical images used for yakuza body art. The application of these extensive tattoos is painful and can take hundreds of hours, but the process is considered a test of a man's mettle. Another sign is the famous â€Å"yubizume†, the amputation of the last joint of the little finger, if a yakuza severely disappoints his boss. The next mistake would lead into an amputation of the second joint of the little finger and later moving on to the next finger. Beyond all, a yakuza knows what to do if his boss gives him a knife. (Kaplan and Dubro,2003,p. 1 4) As a Yakuza there is also no space in Japanese Society, but the mafia is quite more accepted as in other countries like for example United States. Yakuza have an increasingly influence on politics and politicians by supporting them financially or with â€Å"services† like extort people to vote for them. For the Yakuza corporate extortion is a very profitable business and the shareholders’ meeting men called â€Å"Sokaiya† are highly involved. Bruno(2007) describes it as follows:† Sokaiya will buy a small number of shares in a company so that they can attend shareholders' meetings. In preparation for the meeting, the sokaiya gather damaging information about the company and its officers; secret mistresses, tax evasion, unsafe factory conditions, and pollution are all fodder for the sokaiya. They will then contact the company's management and threaten to disclose whatever embarrassing information they have at the shareholders' meeting unless they are â€Å"compensated. † If management does not give in to their demands, the sokaiya go to the shareholders' meeting and raise hell, shouting down anyone who dares to speak, making a boisterous display of their presence, and shouting out their damaging revelations. In Japan, where people fear embarrassment and shame much more than physical threats, executives usually give the sokaiya whatever they want. But Japan is also a society where directness is considered rude, and even the criminals make their threats known in a circuitous, outwardly polite manner. Threats come in many disguises. Some sokaiya pose as business magazine publishers who encourage their targets to take out ads or buy subscriptions in exchange for favorable reporting about the company. Since these sokaiya will follow through on their threats and print a magazine or newsletter filled with condemning articles, company executives usually pay up rather than face the bad press. Another sokaiya scam is to set up booster clubs that solicit donations for non-existent causes. They also throw gala events to which the invited businessmen are expected to bring cash gifts for their hosts. Such events have been known to net more than $100,000 in a single night. The sokaiya have also organized beauty pageants for the purpose of shaking down corporate â€Å"sponsors,† and sokaiya golf tournaments come with pricey entrance fees for their corporate players. These corporate racketeers have also been known to sell blocks of tickets to theater events at grossly inflated prices. Anything to extort money out of legitimate companies in the most polite and indirect way possible. The intention is therefore to control them after the vote and to avoid a minding in their business by the state. They are often right wing nationalistic and even the cars with big loudspeakers of right parties are often driven by Yakuza members. With prohibition of the Yakuza, the conspicuous behavior alleviated. Former offices are now placements for loans or jobs and although the Yakuza a re officially called â€Å"Boryokudan† (violent groups), violence is usually the last resort regardless of whether legal businesses like loan lending or placement services or illegal businesses like drugs, prostitution or gambling. Takahashi,2009,p. 40-43) Certainly the yakuza’s standards decreased when recruiting new members. While about 60 % of all Yakuza descend by â€Å"Burakumin†, offspring of the â€Å"impure† people of the feudal age of Japan, most new members currently come from the bosozuku (speed tribes), known for their love of motorbikes. (Takashi,2009,P. 43) Yakuza, who treasure their ancestral ties to the old samurai reject the term and consider it an insult. So the Yakuza remain the â€Å"shadow of Japanese society†, while their image are getting worse. When I asked surrounding people only two of them had contact with them and described them as very olite but arrogant as well. Their friends are Yakuza and studied Law in an university, but then started a career at a Yakuza organization after graduation. They said that Yakuza are very friendly especially to foreigners, except you are getting involved into their business. Two Mongolian guys, who I met, told me that one of them kicked a Yakuza mem ber during a quarrel in an izakaya. When the police and other Yakuza member arrived later, they said to the Mongolians that if they wouldn’t pay 50000 yen, they would find and kill them. And that in front of the police men, who didn’t want to get involved in this business. This kind of controversy mixture of gratefulness (when the Yakuza helped Japanese people after the big earthquake in 1995 earlier than the Japanese government) and fear, tolerance but no acceptance is a very interesting situation in Japan. But situations are changing. While in other Mafias, in which a member is a member for life and this short-term career can have severe repercussions, former Yakuza are becoming now salary men. There are even companies who offer jobs and rehabilitation programs for former Yakuza, who want to change their life. (Bruno,2007) Conclusion As we could see, there is an influence as well as transition of the Yakuza to Japanese Society. Complaints of Japanese citizens about Yakuza activities increased considerably, although there are still feared, the acceptance is getting lower and lower. Some people are fighting back by banishing yakuza social clubs from their neighborhoods or forbidding Yakuza to enter local â€Å"Onzens† (public hot springs or spas) or gyms. In addition to that, yakuza organizations are haveing serious problems to recruit new members, because a Japanese boy from a well-protected good family doesn’t tend to start working at an underground organization. The author Bruno (2007) described the situation with much apropos: â€Å" Today they could be more active—and more careful—than ever, broadening their bases, infiltrating new territories and working new scams. Like the fabled ninjas of ancient Japan, they can be everywhere and nowhere, but they're always lethal. †References: Blathwayt, W.,2008, Yakuza bared – The changing face of Japanese organised crime. Bruno, 2007, The Yakuza, [online] Available at: http://www.trutv.com/library/crime/gangsters_outlaws/gang/yakuza/1.html [Accessed 21 January 2011] Gà ¼nther, H., 1999, Yakuza â€Å"die Japanische Mafia?†, [online] Available at: http://www.japonet.de/j-impressionen/yakuza.html [Accessed 21 January 2011] Hill, P., 2003, The Japanese Mafia: Yakuza, Law, and the State Kaplan, D. and Dubro, A., 2003, Yakuza Japan's Criminal Underworld Parkanian, J. 2010, Game Boy: Glossary of Japanese Gambling Games Takahashi, K. 2009, Capital punishment – Japan's yakuza vie for control of Tokyo. United Nations, 2000, Seventh United Nations Survey of Crime Trends and Operations of Criminal Justice Systems [online] Available at: http://www.nationmaster.com/graph/cri_tot_cri_percap-crime-total-crimes-per-capita [Accessed 21 January 2011]

The Inexplicable Mystery Into Comparing and Contrasting Essay Samples

The Inexplicable Mystery Into Comparing and Contrasting Essay Samples There are similarities no matter location, like the company chosen to observe the movie, and the movie itself. It is probable that you could pick out more dissimilarities than similarities. You should have your reasons, and our principal concern is that you wind up getting a great grade. For instance, if you need to write about two different historical figures, it makes sense to select two great artists as opposed to an artist and a politician. The Basics of Comparing and Contrasting Essay Samples Express that will the people contrast in a variety of approach. It started in North America and was produced by the Native Americans. In addition, in the summertime, vacation destinations are often overcrowded and costly, while those very same places may be much easier to enjoy during the winter. Artworks of Yolanda and Barbara for the very first site appear to be this distinct. Characteristics of Comparing a nd Contrasting Essay Samples A decent compare-and-contrast essay goes beyond a very simple listing of similarities and differences to earn a meaningful statement about a bigger topic. Kafka strengthens the notion of the gap between that which we are and what we wish to be, which is quite often hard to escape. When you have the title and aspects to compare but without a definite number of criteria to cover similarities and differences, you've got to brainstorm. When you begin brainstorming and researching the subject, the odds are high you'll locate a wide collection of differences and similarities. Besides family, there are different elements that help determine the evolution of mental illness in these short stories. The context will be different depending on the character of the essay. Some essays may just speak about similarities, though others might just speak about differences. Students learn how to analyze info about two subjects. In the span of obtaining an education, they have to deal with different tasks and overcome various challenges of different complexity. Conclusions ought to be short just enjoy the introduction as it comprises the gist of the essay. You might also understand the evaluation essay templates. Evaluation The next step is a very simple analysis of everything that you've written down. Your capability to make a great paper is dependent on structuring an ideal outline. This focus is dependent upon the length and range of the essay. There are good methods to begin a compare and contrast essay in this informative article. There are additionally some lessons that you will need to always keep in mind before you get started writing your essay. Keep in mind, ensure you do your research, and go at your own pace writing. It might not be a slice of cake, but if you like writing, it is going to grow in you to write more. The most frequently encountered paper writing service that the majority of our clients require is essay writing. When writing any form of academic paper, an individual needs to be able to get familiar with the basics of writing. Every student was assigned a compare and contrast essay at least one time in a lifetime. To start with, in the same way as any other bit of academic writing, a comparative essay ought to have an objective. Finding the Best Comparing and Contrasting Essay Samples After the essay demands a large number of approaches to explore, it's important to understand how to organize it correctly in an effort to guarantee easy reading. On this phase of the writing process you must have a good idea of the objective of this essay. If you are thinking about how to begin a compare and contrast essay or merely wish to know how to write one well, first you have to comprehend its goal. Write your conclusion depending on the general flow of the essay. There's, obviously, a limit on the variety of pages even our finest writers can produce with a pressing deadline, but usually, we can satisfy all the clients seeking urgent assistance. To begin with, you can include as many paragraphs as possible based on the ideas which you have. The very first draft isn't always the perfect. With the samples that we've got within this post, it is going to be faster for you to recognize the points of discussion that you should provide.

Raising capital through private equity - Free Essay Example

Sample details Pages: 7 Words: 2072 Downloads: 6 Date added: 2017/06/26 Category Finance Essay Type Narrative essay Did you like this example? 1.3 Definitions of equity: Equity is the owners interest into the firm or business as on preferred stock or common stock. It is equal to the total assets less total liabilities it is called as the net book value or the net worth or the shareholders equity. There is a real state so there is difference between the property owners and the owners owes against that property. Don’t waste time! Our writers will create an original "Raising capital through private equity" essay for you Create order The future trading context there is a value for the for the securities in the accounts. At the going price it may be liquidate. The values of securities are deducting the margins. Preferred stock and the common stock as the ownership Interest in a firm. Equity is also called the shareholders value, book value or net worth into the company. There is fairness in law for the equity. The out standing mortgage loan is deduct from the value of the property. 1.4 Features of equity: The tem equity describe the ownership of equity ownership is represented by the share that give their holder apart or a share of a enterprise. Equity share are called from different names as the common stock in U.S and mainly ordinary shares elsewhere. Equity also includes instrument that give their holder their holder the right to subscribe for the common stock in the company at sometime in the future. Both share options issued by a company and share warrants give their holder the right. Options and warrants can be described as delayed equity because they might be used to create new equity shares. But not until in some future date. There is also a view that convertible bonds and convertible preferred stocks are equity shares of the company at a future date at a specified rate of conversion. if the holder of the convertibles exercise their right of conversion. The company must issue new ordinary shares. Many corporate treasures stock market analysts would argue that irredeemable preferred stocks is also the form of equity because they are the permanent part of permanent share capital of the company. The definition of equity is not clear cut and some securities and instruments are more properly regarded as hybrids part debt and part equity .the equity investment in accompany is represented in accounting terms within its balance sheet . equity capital is the net worth of the company consisting of its total asset less its liabilities to creditors and other providers of capital the net assets of the business. In the balance sheet equity capital is represented by the ordinary shareholders share capital at nominal price and the reserves such as the share premium accont revaluation reserves and retainrd profits accounts. How ever the accontig valuation of assets particularly fixed assets is notoriously unreliable and the equity investment in a company cannot be measured reliably by balance sheet values. 1.5 What do I need the equity capital for? If u wants to expand your business then you need money for this and which you can raise from the investors those who are agree to invest their money in your firm. Every one wants to increase the finance of his company. To raise the equity finance sometime it is very costly and expensive for the firm. The companies avoid getting loan from the financial institutes. Because there is interest on the loans are too much that are not affordable by the companies. Chapter 3 raising capital through private equity 3.1 Introduction of private equity Private equity History The private equity concept has been launched in 1946. At that time When the American institute American research and development authority decided to give confidence to the private sector. They raise equity for the soldiers of the world war 11.While the ARD had trouble inspiring any private interest in the venture ended up finish; they are major because this marked the first documented time in it is the first time in the history that an institute of this type has been introduced. Definition Private equity is in fact a very broad term, used to define types of funds or investments. The term signifies the source of the money as opposed to the form which the money takes on. As the name suggests, private equity is private, i.e.: it is not reachable in public markets, such as the stock exchange. One definition of private equity that is in use is Investing in no-publicly held securities through a negotiated process, (Banc 2004).This definition is fairly descriptive in that it becomes clear that the process is indeed negotiated; the return on the investment varies and the proportion of the companys profits that the investor keeps is arranged between the investor and the enterprise. The Indian Case The private equity is recently introduced in india if we see back in preveious century 90s decade. There is boom, boom on private equity in 1990s with corporations spend (and receiving huge amount for them) with their funds. In the last years In recent years, there has been a revival of these firm, within india there is boom on the firms of india infrastructure and sciences, real and infrastructure growth up these days in india. such as Warburg Pincers which works globaly, Blackstone and the Carlyle Group also workls in india while Indian pl gamers like ChrysCapital and ICICI Venture also have a great presence. equity 3.2 categories of private equity: 3.2.1 Leveraged buyout: drawing of the fundamental structure of a basic leveraged buyout transaction. Leveraged buyout, BO or Buyout refers to a strategy of creation equity funds as element of a transaction in which, business or commerce unit a company assets is purchased from the existing Shareholders normally with the use of financial leverage. The enterprises interested in tis type of transactions these companies are ,mature an The companies mixed up in such Transactions are usually mature and make operating cash flows. In leveraged buyout a sponsor is involve to sponsored for acquiring the business with out committing to invest all the capital for the acquisition of business . . for doing this, the sponsor will move up Acquisition debt which finally looks to the cash flows of the acquirement target to make Principal payments and interest Acquisition debt is given to sponsor who has financed in business and there is no grantee of investment invested by the sponsors. . In all that this structure is attractive to the investors who have limited funds and not spend more than this. Greatly warning the degree of choice of that leverage, allowing them the benefits of leverage. There are two types of this kind of finance and those are much important for us. (1) The sponsor also not want to more on the acquisition of asset he does not pay more than the debt (2) The returns of the investor is more than that of the cost of debt. the amount of debt used for transaction costs vary according to the financial circumstance and market situation history of the achievement target,. As a percentage of the purchase price for a leverage buyout target, s, the willingness of lenders to expand credit (both to the LBOsfinancia sponsors and the business to be purchase)as such the liabilities and the interest of the company cover all debt costs . Historically the portion of the debt LBO will vary from 50%-80% 3.2.2 VETURE CAPITAL: venture capital is yh subheading of private equity and it is only used in less mature fir,ms, for the open, expansion and early development, of business it is mmostly used in nrw firms those which are at their initial stage , new products and new marketing concepts venture capital fund is expand the business these funds are required at the launching of the business and more ofenly used at the initially stage of the firm . this is used for the expansion of business venture capital provide the funds to the business. So the venture capital is used motly and are also expensve for business. So it is the big drawback of it. Entrepreneurs often require considerable capital during the Shaping stages of their business life cycles. For the developing of products and ideas that Many entrepreneurs do not have adequate funds. To funding projects themselves, and they must therefore look for outside financing .The venture Capitalists need to distribute high returns to reimburse for the risk of these savings makes Venture funding an costly capital resource for companies. Venture capital is most appropriate for Businesses with huge up-front capital necessities which cannot be financed by cheaper substitute such as debt. Although venture capital is habitually most closely related with fast- Growing technology biotechnology, and fields, venture financial support has been used for other more conventional businesses 3.2.3 CAPITA GROWTH: Most often marginal investments capital refers to equity investments, that are looking for restructure operations, capital to expand, finance a chief acquirement without a change of control or in relatively mature companies enter into new markets or of the business. These corporations are likely to be much more mature than venture capital funded Companies, citation required business that seek development capital will often do so in order to finance a transformational even tin their life cycle. Growth capital can also be used to affect a reformation of a corporations balance sheet, for reducing the cost the company has its own balance sheet. Any company able to generate the funds according to its need and for the acquisition of the assets also for the expansion of business. Investments are usually made in the shape of convertible e or preferred security 3.2.4 DISTRESSED AND SPECIAL SITUATION: Securities of fiscally stressed corporations. Distressed or Special Situations is a waste topic for the spending of business The distressed category encompasses two Broad sub-strategies including: The distressed strategies has two sub types loan for own strategies or how to control the distressed situation. the companies acquire debt through this the securities may merge. Beyond the private equity strategies the private equity has also hedge funds which has a variety of distressed funds or investment strategies. 3.2.5 MEZZENINE: Mezzanine capital or Preferred equity securities refers to subordinated debt that often represents which are enable to access the high yield market that are often used by smaller companies , allows the most junior fraction of a companys capital structure that is senior to the companys common equity. Equity capital required to finance major expansion or leveraged buyout . this kind of loan is provided by banks and the companies want a big return against the loans than other senior lenders. 3.2.6 SECONDARIES: The investment which is made in the existing equity asset is called the secondariesthese transaction invovlve the portfolio of direct investment or the interest sale of private equity the acquisition of invest for the existin business units. The private equity is more liquid than the other long term loans . investors has the capability to grown up the vintage diversification secondaries are experienced class from the different cash flows many big corporation acquire private equity for the business and these transactions are made through third parties private equity funds are raise through these methods. 3.2.7 OTHER STRATEGEIS: Other strategies that can be considered a close adjacent market or private equity include Real Estate: Private equity will typically refer to the riskier end of the investment spectrum including opportunity funds and value added where the investments frequently more closely resemble leveraged buyout than traditional real estate investments. Real estate to be a separate asset class is considered by the certain investors in private equity. Infrastructure: the investments in a variety of public works ,that are made typically as part of a privatization initiative on the part of a government entity (e.g., public transportation, bridges, toll roads, tunnels, airports, and other public works). . 3.2.8 Private equity funds: This section needs additional citation s for verification. Please help improve this article by adding reliable references. Unisource material may becalm l edged and Removed. (August 2009) Private equity fundraising refers to the action of private equity firms seeking capital from Investors for their funds. Typically an investor will invest in a specific fund managed by a firm, average fund. In 2005here were 25 investors in the average private equity fund, this figure has Now grown-up to 52 according to reign ltd. (formerly known as Private Equity Intelligence). The managers of private equity funds will also invest in their own vehicles, classically providing Between 1-4% of often private equity finance managers will employ the services of outdoor fundraising teams. known as placement negotiator in order to raise capital for their business.