by Herman Bailey | Feb 23, 2023 | Essays |
Introduction
With increased completion businesses are quickly realizing that loyal customers and adopting new strategies for customer retention is primary for their profitability. The main aim of customer retention strategies is to increase the purchasing power of a customer and to also to maintain good relation with the customer to keep them loyal to the firm. Customer retention strategies are related to customer relationship management due to the underlying fact that long-term customers are profitable. Reichheld conducted an empirical study that indicated that increased profits are directly related to customer retention rates. Further he explained that a 5% retention increase had a direct impact on the net value of the business from 95% for advertising agencies and 35% for computer software businesses. Some studies have focused on the primary reasons for customer retention such as customer satisfaction and competitor’s offerings (Reinheld, F. 2003, 23).
People Also Read
What is customer Retention?
A number of literatures have defined what constitutes customer retention. Swift in his paper Accelerating relationship[s using CRM and relationship technologies describes retained customers as those who are loyal, and profitable to the business. Fill in marketing communication: contexts, strategies and applications describe customer retention as that deep relationship established between a business and a customer where the customer’s individual goals are met (Swift, R. 2001, 19). In some circumstances, customer retention is achieved where the customer lacks options as described by Jones et al. (2007, 45). In this scenario the customer is forced to come back because they have no alternatives.
On the other hand, Heskett, Sasser and Shclesinger (1997, 4), state that customer retention exists where there is a deep active relationship between the customer and the service provider. This relationship creates better understanding of the needs of the customer and he or she is served well making the customer return for the same service or a similar one.
Background and Problem Discussion
Various studies have focused on customer retention being less expensive that acquisition and focus, (Reichheld, F. 1996, 23). Other studies indicate that very few businesses invest in customer retention strategies and that some spent only a quarter of their marketing budgets on retention of their customers. Reichheld and Sasser emphasizes on the importance of customer retention. They add that retaining of 5% of the company’s customers can increase the profits and sales of the business by 100%. Consequently, a study by Heskett, Sasser and Schlesinger (1997, 40) provide for the successful retention strategies from the experience of MBNA Credit Card Company. For example MBNA called each of the customers who stopped using their card services. It also collected data feedback from defected clients to help it adjust its service delivery process. With this information, after eight years MBNA reported an increase in profits sixteen times. Retention of customers should therefore be made part of the market planning process for any business (Ahmad and Battle, 2001, 36). Focus on customer satisfaction in one way of achieving maximum customer retention.
Rank Xerox in Denmark conducted a survey asking its customers to rank their satisfaction levels on a scale of 1 to 5, with 5 being the best satisfaction. The result of the survey indicated that those who ranked their satisfaction level as 5 were 93% of the total survey population and it is this number that returned to make a subsequent purchase. The rest who chose 4 as their satisfaction level did not return to make any subsequent purchase (Bergman, Klefsjo, 2003, 330). The experience of Rank Xerox shows that, the level of customer satisfaction is directly related to customer retention. It is right to conclude that there is connection between customer retention and the profits or sales of a company. Retention of customer strategies is less expensive and more profitable.
Statement Problem
There is growing interest on the importance of customer retention to boost sales for small scale businesses. This interest is derived from competition, the need to make profits and the need to remain relevant in the market. This study is aimed at assisting the management of Supermarket A to maximize profits through customer retention strategies such as customer satisfaction, improving customer relations, prioritizing retention as the yearly market plan, and product and service integrity
Research Question
What Supermarket A can do to Retain its Customers?
Hypothesis
The aim of the research is to analyze why customers come back to Supermarket A and what influences their decisions.
Research significance
In this study, we look at what is important for the supermarket’s customers in order for them to come back. In return, we look at what the supermarket can do to increase retention of the customers. Understanding of the current customer retention techniques is essential for the improvement of sales for the supermarket. In addition, the approaches will assist the supermarket management to understand the customer services that is customers need. Consequently, this will boost sales of the products. The results of the study can be applied in similar businesses to improve their sales by simply improving on the customer retention techniques. They will be able to understand the influence of customers and why they return to the service provider. Additionally, the business managers can use the results of the study as a tool to increase retention rates by adjusting the services within their business.
Purpose
The primary goal of the study is to understand whether the improvement of the current customer retention strategies that Supermarket A uses will boost its sales. Additionally, the study will explore additional current customer retention strategies that Supermarket A can use to overcome competition from its competitors to help it retain and attract more customers. Therefore, the study will look at factors that attract, contribute to customer retention and improvement of Supermarket A, customer services to retain their customers. The study will establish the relationship between current consumer retention strategies and improvement of sales.
Research Methodology
This empirical research will highlight reasons why customers come back to the supermarket. For the purposes of establishing these reasons, the qualitative approach of empirical research shall be used. The results will then be discussed together with the supermarket manager during the interview, taking a qualitative approach in order to get professional comments and opinions on the findings. This will be important to increase Quality of results interpretation.
Primarily, the Quantitative research method is used to predict, provide explanations for measurable phenomenon such as variables (Leedy, O. 2001, 101) the Quantitative approach is said to therefore focus on a known variable. Being the nature of quantitative approaches being deductive, the phenomenon explained is retention of the supermarket customers with the sample variables (Bryman & Bell, 2007, 1). Use of the quantitative approach will cover a larger and bigger population sample, compared to the qualitative approach. This way the larger samples of respondents will be larger making it possible to create any kind of generalization needed.
The empirical research will adopt the interview method containing both closed and open questions. Open questions allow respondents to answers the questions in their own words. The wide variety of answers received is important for the researcher since it increases not only their knowledge on the subject but also knowledge on what the customers’ desire. Closed questions on the other hand, according to are usually easy to process in the data analysis phase. They also increase the possibility of comparing answers( Bryman & Bell, 2007, 7).
The formulation of the hypothesis shall be in the theoretical background section, the reasons for supermarket A customer retention are adopted from the 8Ps of Service Marketing Model. Lovelock and Writz extended the traditional 4 Ps Model calling it the 8Ps model of service marketing. These are price, product, time, place, promotion, education, physical environment, process, people, productivity and quality elements (2007, 637). As mentioned earlier the second part of the interview shall consist of closed questions. This are primarily for the purposes of evaluating the importance of each service element offered in the supermarket as adapted by the 8Ps model for customer retention.
This research will adopt the mixed method of both the quantitative and qualitative research methods. This two-pronged strategy involves the combination of qualitative and quantitative research approaches, techniques, methods, concepts in a single study. The qualitative approach research is designed to finding solutions to particular questions. It aims at the production of factual descriptions based on knowledge obtained from face to face interactions with individuals and social behavior in their natural settings. With this kind of approach the customers themselves can give solution to the question problem by providing the best customer retention strategies. The data collected in a qualitative approach is usually in detail revealing more information about the respondent behavior. The results obtained from the qualitative approach are usually descriptive. Qualitative approach is common for conducting market research and the research may be conducted in person, via telephone or via internet.
The quantitative approach on the other hand, relies primarily on quantitative data collected. The data can then be used to quantity behavior, opinions, suggestions, and attitudes from the large sample being studied. The various quantitative methods of research include online surveys, paper surveys, telephone interviews, online polls, and longitudinal studies just to mention a few.
Data Collection and Research Methods
The research study shall use both secondary and primary data which will be obtained using the mixed research method. Primary research method shall include interviews, surveys, and standard questionnaires. The secondary research methods will consist of online articles, journals and annual reports of similar business. The research will be aimed at reviewing, journal papers, and related literature.
The qualitative aspect of research shall be for the purposes of collecting information, understanding information. It will focus on customer behavior on why and how they make decisions. The samples that will used for this research will be divided into smaller portions, for instance the customers who visits Supermarket A, will be divided into male of female, they shall also be divided into their age clusters. A qualitative research method is aimed at giving answers to specific studies and general conclusions on informed actions. Additionally, qualitative research is aimed at finding the processes and practices rather than the outcomes. Therefore, the focus of the study using this research approach will focus on the experiences the customers have had while shopping at Supermarket A. An observer will observer the shoppers and note down their behavior.
Interviews
In depth interview will be used to collect data for this study. It will include conducting intensive individual interviews will a smaller group of respondents to explore their experience while shopping at Supermarket A. The interview questions will also aim at finding out the customer retention strategies that will make the shoppers come back. As mentioned earlier the interview questions shall be both open and closed. The interview format shall adopt a relaxed and flexible mode to create a rapport with the respondents. Having interview questions that are flexible will encourage probing into personal experiences of the shoppers. Another importance of in-depth interviews is that they provide more detailed information about the shopper’s behavior, thoughts and allows for the exploration of new information (Boyce & Neale, 2006, 4). Therefore, using both open and closed questions will guarantee detail information and understanding of the problem under research.
Observation will also be another data collection method used. An observer will be stationed at the Supermarket A and will be required to observer the purchasing behavior of the shoppers, how comfortable they seem with for example the freshness of the groceries, the customer care services. It will also identify the most frequent shoppers of the shop. This data collection tool will provide first hand information about the shopper’s behaviors. Direct observation is essential since it helps identify habitual routines that some people are hardly aware of. Through observation we shall be able to understand the behavior of both the customer and the customer care offered by Supermarket A, for example how the issues and complains of shoppers are addressed.
Sampling
Sampling will be used. Sampling involves selection of individual people or data from the target research population. The target population is this case is the customer of Supermarket A. Lavrakas defines a population as an infinite or finite collection of individual elements (2008, 62). The sample size used will be of 40 participants. Lavrakas defines a sample as a smaller group obtained from a target population that has been selected to be a representative of the entire population with all the relevant characteristics (2008, 60). The primary aim of the study will be to include participants from all age groups and societal setting. The recruitment of shoppers of Supermarket A will take place at the shop itself; visit to nearby residential homes and online. In this way there shall be a wide range of representation of the shoppers.
Data Analysis
The study will use the Holloway’s strategy for data analysis (1997, 3). This is because the analysis will involve breaking down the day and getting codes and categories that are later transformed into themes. The thematic approach shall be used for analysis purposes. It shall have the following processes, organizing and ordering the data collected, re-reading the data, breaking the data collected into manageable parts, identification and selection of important phrases, searching for relationships and linking the categories together, identifying and describing themes, patterns and interpreting and looking for meanings. The audio taped used for interviews shall already been transcribed, checked for accuracy and printed.
Gantt chart
Attached is Gantt chart, Appendix 1. The Chart represents the start and completion dates of the whole Research paper from research proposal to the last chapter. The duration set for completion of the whole project is 6 months. So far the research proposal is still in its initial stages and will be complicated on the date set in the gnat chart.
This is a research proposal and there are various challenges that may come with it. They include, poor time management, supervisor related factors, institutional factors and natural challenges such as diseases and accidents. With all these factors in mind it is easy to overcome most of them and successfully complete the research project on time.
Supervision of research project is necessary for its completion. The supervisor is expected to advise the student in project management, by ensuring they produce quality work. In addition the supervisor is required to provide emotional and psychological support that the students needs. They can advise on effective use of time, avail themselves for regular contact with the student and offer constructive criticism. If this roles are not played well then this may pose a challenge to the student. To overcome this challenge the student should adhere to schedule set by the supervisor and ensure that they follow instruction given. The student should also consult regularly with the project supervisor to ensure production of coherent and logical research papers. Unnatural factors such as accidents and falling sick may be a challenge to completing a research project on time.
Another challenge that maybe encountered in the course of this research project is poor time management. Time is very critical for the completion of a research project. It is for this reason that a Gantt chart has been created to overcome this challenge. Having a timetable that is followed to the letter is very important to meet and beat deadlines set. Students who intend to finish there research project on time then they must spent 20 hours per week in their projects. The attitude of a student is also likely to be barrier to completion of the project on time.
Ethical issues that may affect the proposed project and how they may be addressed
Ethics in research provide for the rules that should be followed when undertaking a research project. One ethical issue is honesty in the presentation of data results. Researchers are required to maintain high degree of honest when presenting their research results. The results should reflect the true response of respondents in that particular research.
Objectivity is another ethical issue to consider in research projects. The researcher must avoid bias in data analysis, data interpretation and other research tasks. Another ethical issue is recognition of previous research that is used in the research project. Plagiarism is an offence and it is important for researchers to recognize work that is borrowed from other sources. Plagiarism is an offense that may result to cancelation of the whole project. Citing sources that have been quoted or paraphrased show that the student has understood the research question; the paper was well researched and hence strengthens it. Students should seek permission before using unpublished data and material. The main aim of this ethical rule is to ensure students give credit where it is due.
Voluntary participation of research participants is a very important ethical concern. All respondent of the research should voluntarily consent to participate in the research project. In cases where the respondent is under age then the consent of the parent or guardian should be sought first. To avoid such incidences it is better to have respondents who are all adults.
Privacy and confidentiality is another ethical issue to consider in research. Some respondents may not want to give their personal or home address information. As a researcher it is important to consider this aspect especially when interviewing the client. Sometimes the research problem does not really need the personal information of the respondent in this case to avoid conflict with the respondent one can do away with this details. Privacy protects respondent from being identified in publications. Privacy can be protected through collection of data using coded data techniques such as respondent A or 1. If a degree of privacy is not provided for then some respondents may not agree to be part of the research.
Time is another ethical issue in research that is overlooked from time to time. Just like you have created a work plan for your research then the respondent need to be informed of important information such as how long the interview will take, how long you are going to stay with the information they provide.
Chapter Summary
The chapter is the project research proposal on Supermarket A on how the Supermarket can retain its customers to improve sales. The chapter contains a brief introduction that explains the different aspects of customer retention strategies. Then there is a section that explains and defines customer retention. It includes details of the research question, hypothesis and the reasons for writing this paper. Consequently, the chapter explains the significance of this study and how research shall be conducted. The methods for data collection are also included and the data analysis techniques. The chapter includes a Gantt chart that gives the timeline for completion of the research project. It addressee the challenges likely to be encountered, and the ethical issues to adhere to.
References
Ahmad, R. & Buttle, F., 2001. Customer retention: a potentially potent marketing management strategy. Journal of Strategic Marketing, 9, 29-45.
Bergman, B. & Klefsjö, B., 2003. Quality: From Customer Needs to Customer Satisfaction, Studentliteratur, Lund.
Boyce C. and Neale, P. (2006): A Guide for Designing and Conducting In-depth Interviews for Evaluating Input. Pathfinder International Todd Series: Watertown, USA. Dincen, J., Selleck., V., and Streick, S. (1978). Restructuring Parental Attitudes – Working with Parents of Adult Mentally ill – Schizophrenia Bulletin.
Bryman, A. & Bell, E., 2007. Business research methods, 2nd ed., Oxford University Press, New York.
Holloway, I. (1997). Basics Concepts for Qualitative Research. Malden Blackwell Science.
Heskett, J.L., Sasser, W.E. & Schlesinger, L.A., 1997. The service profit chain: how leading companies link profit and growth to loyalty, satisfaction, and value, The Free Press, New York.
Jones, M.A. et al., 2007. The Positive and Negative Effects of Switching Costs on Relational Outcomes. Journal of Service Research, 9(4), 335-355.
Leedy, P.D., Ormrod, J.E., 2001. Practical research : planning and design, 7th ed., Merrill Prentice Hall, Upper Saddle River.
Lovelock, C. & Wirtz, J., 2007. Service Marketing.People, Technology, Strategy, 6th ed., Pearson Prentice Hall, Upper Saddle River.
Reichheld, F., 2003. The One Number You Need to Grow. Harvard Business Review, December 2003.
Reichheld, F.F. & Sasser, W.E., 1990. Zero defections: quality comes to services. Harvard Business Review, September-October 1990.
Swift, R.S., 2001. Accelerating Customer Relationships Using CRM and Relationship Technologies, Prentice Hall PTR, Upper Saddle River.
With a student-centered approach, I create engaging and informative blog posts that tackle relevant topics for students. My content aims to equip students with the knowledge and tools they need to succeed academically and beyond.
by Herman Bailey | Feb 23, 2023 | Essays |
Introduction
A large percentage of innovations arise from attempts at risk management. Risk often occurs when managers can assign possibilities to every decision they make. To ensure success, employees and business associated become creative at managing and increasing the possibilities of success. Risk management covers a semblance of uncertainty, where managers are aware of the probabilities of the outcomes but cannot determine the outcomes of the same. Since the probability of success remains unknown, it can be said that managers in this case are working blind, they have little if any information with which to make decisions. These risks often become apparent because changes in the organizational environment result in new kinds of opportunities and threats.
People Also Read
Small businesses are often under the greatest risk when it comes to innovation. The competitors are often providing higher quality products, operating under lower costs of production and showing greater response to consumer needs. In response, the small businesses are forced to employ higher innovation tactics to ensure product development. However on the same page, innovations have proved to be riskier for the small business. They often have limited financial privilege, lower technical advancements and even less information with which t operate. Should the businesses get one thing wrong, or end up with a less than perfect product; the risks of total failure and survival of the business comes under threat. Understanding risk management and innovation is important since customers today are not only looking for a competitive, high quality product that will serve them today but also the ability for the business to maintain high skills, manage resources and the flexibility to remain a quality supplier of the products in future.
Advantages of Studying Risks and Innovation
Understanding business acceleration
For majority of the managers, risk analysis and management is often considered as the main issue that slows down innovation. With the fear of taking major risks, managers are often forced to reduce the rate of innovation and in doing so stifle the acceleration of the business. (Holmes 2002) states that a learning organization treats the process of risk management as an opportunity for learning, developing and growth. Such a business accelerates the process of growth and possibly outdoes competition within a few years. In the past, students have become more focused on reducing the process of risk and in many cases circumnavigating the risk itself. Lessons focused students on reflecting the probabilities and increasing chances of success by minimizing the success.
Encouraging growth
The module offers a better option, and this is simply to use the risk to the advantage of the business. Rather than avoiding risk, the module highlights methods and processes with which the managers can accelerate growth by increasing the risk and managing the same. Through proper risk management, product development and processes that minimize cost and increase profit are possible. The examples in the module show that businesses that manage rather than avert the possibilities of risk are most likely to experience accelerated development even when the business environment may not be favorable.
Managing finances for innovation and risk management
For a manager to be able to lead a genuinely creative and innovative business, it is vital that they release their own nature from the normative and traditional values of the business. For a while now, manager have been trained to focus more on the financial bottom line. While innovation increases the chances of outdoing the competition, the results of increased market share and profits are not immediate, yet this is the measure of performance that managers often focus on. With traditional training, when an innovation fails to produce immediate results, managers are most likely to prematurely abandon the project. The module allows managers to become more patient, carefully manage finances so that the business weathers the storm and therefore succeed in value proposition.
Understand the essence of innovation
In order to effectively pursue risk management, it is important for the managers to understand the essence of risk management. Traditional training indicates that risk management is a preventive measure designed to protect the business. However, the module shows a better and more positive avenue for risk management, and this includes as a bold risk taking measure which entails innovation. (Hopkin 2013) shows that the core business of innovations and companies that have led in their industries with regard to innovation are also highly effective in risk management.
RESEARCH PROCESSES
In understanding the innovation and risk management of the small business, a simple self assessment tool was applied. Being a trained and skilled facilitator, it was easy to bring out issues in the business. Furthermore, as a vacillator, I was able to promote wide staff involvement and open discussion that led to the collection of rich data. During the research process, the vacillator employed participation through various departments and networks through which they could get ideas and create an environment where improvement is the basis. With this environment, it was easy for the facilitator to get the information that they desired.
Case work research process
As (Coldwell and Herbst 2004) observe case work is concerned with the complexity and particular nature of the case in question. The emphasis of the case study was upon intensive examination of the relationship between risk management and innovation. The case study method was selected because while it favors qualitative methods, such as participant observation; it also provides a vehicle through which several quantitative methods can also be combined thereby avoiding over reliance on a singular approach. The results from the case study can be used to understand why so many qualitative management approaches with regard to risk management and innovation are mostly likely to fail. (Zikmund 2003) states that it is important to note that case studies are often heavily dominated by positivism and therefore heavily influenced by epistemological traditions.
Data collection tools: Questionnaires:
While interviews would have proved more helpful in eliciting the right information. This research process was found to be slightly wanting, because employees and workers in the organization were skeptical about being truthful. Based on this, the questionnaire process was chosen. Through this process, the facilitator took time to distribute questionnaires to employees and allow then to return them anonymously. This research tool provided several advantages, for example, it allows the researcher to save much time. Data can be gathered from more people, in a much quicker fashion. This way all employees willing to participate are given the chance to do so and the data is made available and richer information is gathered.
With the purpose of the research aiming at gaining familiarity or new insight into the business and the process of risk management as well as innovation, questionnaire distribution proved quite helpful. The data gathered was more objective and standardized making analysis much easier. With the amount of data that is to be gathered in the business, an objective questionnaire was much more insightful. Surprisingly in this case the return of questionnaires was much higher than expected with majority of the individuals that is, at least 89% returning filled and completed questionnaires. Self completion questionnaires proved valuable in that the respondents did not feel pressured to create time out of their busy schedules to participate in the process of research. In fact, they were much more comfortable setting up their own time and completing the questionnaires at their own sped. However, it should be noted that with the questionnaire, the researcher could not prompt answers and do follow ups to the same answers where interesting points arose. It can therefore be said that the data was less rich than anticipated through interviews. However, since it was a case study, majority of the data could be enriched from other sources. This also applied to the sections of missing data.
Majority of the data gathered indicated or showed that the company had understood the relationship between risk management and innovation. The data gathered was tested using a correlation test which identified a strong relationship between the ability of management to encourage risk and the rate of innovation which in turn increases the chances of development.
Figure I: Participant view on what they consider important in innovation and capability
The organization in the case study was selected on the basis that it provided an excellent opportunity for learning through the application of rich and reliable data. The instrumental case study provided insight into the intrinsic values and compositions of risk management and innovations which could in turn allow generalizations to be made with regard to other organizations.
With experimental and cross sectional designs the typical orientation of the relationship between theory and research is a deductive one. The research design and collection of data are guided by specific research questions. However, in this case the qualitative research design was employed within the cross sectional design allowing the approach to become inductive. (Zwick and Rapport 2002) cite that within the critical case, the research is guided by a hypothesis which is already chosen and has been clearly set. The researcher is therefore on a path towards proving or disproving the said hypothesis. The case is chosen on the basis that it will allow for a better understanding of the circumstances under which the hypothesis will or will not hold. An example of the circumstances included in the research process is shown in the table below:
Table 1: Classification Model
| Chain/ department management |
Increased risk management for innovation |
| Functional management
Reduced interaction of internal functions
Financial resources are departmentally managed
Key performance indicators are considered separately
Lack of targeted plans |
Adhoc risk management
Ad hoc risk management processes
Changes occurring beyond the functional domain are less visible
Redundancy buffers are ignored
Absorbs limited volatility to allow for creative management |
| Dynamic
Alignment of key customer needs
Segmentation to meet various customer needs
Ability to adapt towards frequent changes |
Flexible
Flexibility in company investment towards products, processes and capacity
Segmenting the process of risk management
Business continuity becomes viable |
CHALLENGES IN THE RESEARCH STRATEGY
Information overload
The volume of information available on the subject of risk management and innovation is much more than has been expected. (Bryman and Bell 2007) cites that the subject of risk management and innovation is not only exciting, it is unique and has drawn interest from experts all over. Unfortunately, the majority of the information has been diluted making it hard to gather the right information. In addition, the concept of risk management is often confused with other management concepts. It is therefore possible to end up with information and data that is completely irrelevant to the subject. With the increased rate of publications in research, navigating the field of risk management could become difficult. However, the module was helpful in providing insightful guidelines and boundaries through which the information could be made more relevant.
Furthermore, the information gathering process provided too much information on the subject. Respondents participated fully, answering all questions and providing more than sufficient data. However, this proved helpful and reliable in understanding management techniques and perceptions of the participants towards risk management.
Ethical challenges
It is often difficult to inform others accurately and in a manner with which they understand the full extent of the research strategy and design. It is also difficult to anticipate the emotions that some questions may reveal. For example, some participants may find the questions being presented in the research to be unsettling. There are therefore several ways according to (Marcoulides 1998), in which there is potential for deception and elatedly lack of informed consent in the business research. These instances point to the difficulty in arriving at ethically informed decisions. Whereas ethical codes give advice on patently inappropriate practices though sometimes leaving room for maneuver, they provide less guidance on marginal areas of ethical decision making.
Reliability and validity
Reliability refers the consistency of a measure of a particular concept. The main challenge in reliability in this module arose from internal reliability. This is whereby the key issue is whether or not the indicator that makes up the scale or indexes are consistent. since a multiple item measure was used, where each respondents’ answers to each question were aggregated to form an overall score, the possibility is raised that the indicators may not relate to the same issue that is, risk management and innovation. Validity on the other hand, refers to whether or not the indicators chosen to measure the concept of risk management and that of innovation actually do so. It should be noted that although reliability and validity are analytically distinguishable, they are also related because validity presumes reliability. If a measure is not reliable, it follows therefore that it cannot be valid.
Understanding the future of risk management and innovation
A striking challenge is that managers and executives each view risk management from their own perspective. Drawing generalized conclusions on the subject therefore is quite difficult, (Das 2006). Whereas conclusions can be easily drawn, the richness of the data and the uniqueness of the research process provided an array of conclusions which are difficult to generalize as can be seen from the figure below:
Figure 2: analysis of risk management challenges in the future
BENEFITS OF THE RESEARCH STRATEGY
Challenging theoretical assumptions
The study of management is one in which various assumptions in theory exist. Traditionally for example, it has often been assumed that risk equals loss. Innovations though encouraged in organizations are bottled under less risky. However, this module opens the possibilities of increased risk for higher returns. By challenging the traditional theoretical assumptions, managers are likely to enjoy higher probability of success in innovations.
(Krause 2006) shows that where managers have often relied and misconstrued the idea of risk management separating it completely from the need for new innovations, the new challenging concept brings together the two. Risk management cannot successfully exist without proper investment in innovations. In addition innovations are less likely where risk management is absent.
Offers excellent alternatives
The module and research design do not just challenge traditional assumptions and leave it at that. There is the possibility of new and excellent alternatives through which managers and entrepreneurs can foster growth. The research strategy offers alternatives tailor mad and customized to specific organizational needs. Whereas there maybe challenges in generalizing and benchmarking these alternatives, they can easily be customized making them unique to competition and offering new opportunities for the organization.
Detail oriented
Using the research deign it was possible to collect much more detail than would have been allowed by other research strategies. With the measures of risk management and innovation being difficult, much information is required to enable strategic decision making. The sample in itself provided a richness of data that remains unequaled by other research strategies. The depth of information made available still continues to be informed. (Agrawal 2009) states that business research should include as much detail to ensure that the variables when manipulated can show probabilities of research. This is especially the case in the analysis of risk management.
REFERENCES
Agrawal, R. C. (2009). Risk Management. Jaipur, India, Abd Publishers.
Bryman, A., & Bell, E. (2007). Business Research Methods. Oxford, Oxford University Press.
Coldwell, D., & Herbst, F. J. (2004). Business Research. New York, Juta Academic.
Das, S., & Das, S. (2006). Risk Management. Singapore, John Wiley & Sons.
Holmes, A. (2002). Risk Management. Oxford, U.K., Capstone Pub.
Hopkin, P. (2013). Risk Management. London, Kogan Page
Krause, A. (2006). Risk Management. Bradford, England, Emerald Group Pub.
Marcoulides, G. A. (1998). Modern Methods For Business Research. Mahwah, N.J., Lawrence Erlbaum.
Zikmund, W. G. (2003). Business Research Methods. Mason, Oh, Thomson/South-Western.
Zwick, R., & Rapoport, A. (2002). Experimental Business Research. Boston, Ma, Kluwer Academic Publishers.
With a student-centered approach, I create engaging and informative blog posts that tackle relevant topics for students. My content aims to equip students with the knowledge and tools they need to succeed academically and beyond.
by Herman Bailey | Feb 23, 2023 | Essays |
Harlem Renaissance was an African-American cultural movement that took place in the early 1920s and 1930s centered in Harlem locality of New York City. Harlem Renaissance refers to the name given to the time from the end of World War I through mid-1930s depression. By then, it was known as “New Negro Movement”, and incorporated a group of writers alongside highbrows associated with Harlem during the migration of African-Americans from other parts of United States. This period of unprecedented black creative activity offered a platform of expressing cultural identity issues and social and political segregations (Carroll 57). Various artists published works of writers including drama, poems, and music. This essay discusses the use of imagery and religious verses during the Harlem Renaissance as well as their various contributions in African American literature.
People Also Read
First published in 1903, “The Souls of Black Folk” remains a landmark highlighting the life of African Americans and their spiritual nature. Written by William Edward Burghardt DuBois, this essay collection portrays the sensitivity of pathos and ethos concentrating on the spiritual conditions and religious life of Black Americans. In the introduction of the book, the author shows that “no other text, save possibly the King James Bible, has experienced more fundamental impact on shaping the literary tradition of Afro-Americans (Carl Van 89). This religious verse transformed the official organ of political lobbying group into the main outlet for African American political opinion and world literature. Secondly, Black Religion and Black Radicalism, by Gayraud Wilmore explore African religious history. The author uses the term radicalism that African religion has had a paradoxical and vacillating relationship over the past. The use of the term serves to express the insistent theme within the African church history that white Christianity and society were sick into death and that sickness could be cured by a radical metanoia (Carl Van 102). Symbolically, Wilmore’s use of religion gives special insights regarding the state of Black church in the 1920s and 1930s alongside the factors that lead to deradicalization.
As a group, writers such as Columbus Sally and Ronald Behm in their book “What Color Is Your God? Black Consciousness and the Christian Faith” uses religious views to affirm genuine Christianity as a Black self-image and struggle of the Black against White oppression. Meanwhile, Albert Cleage used the verse of “Black Messiah” to assist the Black church in the liberalization of its people. As such, he used a poem authored by Countee Cullen during the “Negro Renaissance” to offer an example of the challenges Black people had worshiping a White Christ. Likewise, James Cone, in the 1960s, expanded the centuries-old theme, “God is a Negro” into a symbolic theology of Black people liberalization (Woodson 17).
In spite of its size, arts infrastructure, and literacy, the nature of Harlem alongside its association to the Renaissance evoked the strong and conflicting use of imagery representing the African Americans. The image of Harlem was used to represent the cultural, political, Negro Metropolis, spiritual center, and black Manhattan of African Americans. However, the image of Harlem, for some people, was personal. For instance, King Solomon Gillis, the main character in “The City of Refuge” by Rudolph Fisher was one of the people that sought refuge in Harlem after fleeing from North Carolina after shooting a white man. In Harlem, the policeman was black and at the end of the story, this changes his fate as the black policeman drags Gillis away in handcuffs (Rudolph 12). The use of Harlem imagery reflects the day to day realities that most of the Harlemites experienced differently. In short, it represented self-confidence, pride of New Negro and demand for equality, militancy, and it portrayed the aspirations and creative genius of talented young generations of the Harlem Renaissance together with the economic aspirations of the Black migrants in search of a better life in a foreign land.
Meanwhile, the Harlem Race Riot provides a strong imagery of Harlem. In 1935, a young Puerto Rican boy was found stealing a ten-cent pocketknife from a counter. The boy was arrested, and rumors spread that the police had beaten him to death, which made a large crowd gather shouting racial discrimination and police brutality. The riot was investigated, and it was reported that it resulted from racial discrimination, poverty, and general frustration. In the New Negro, Alain Locke discusses the imagery appearance of the new Negro (Chasar 59). This was because the Old Negro looked inferior because it had lived under the shadow of stereotypes and clichés. The use of demeaning images to the New Negro symbolized that the New Negro came into contact with other blacks from various parts of the world and earned him a new sense of self-respect. Secondly, the image symbolized the city life that brought the Negroes closer to contact with each other, hence fostering racial pride.
In conclusion, the Harlem Renaissance legacy has provided a platform for modern African American writers. Particularly, the renaissance has provided a new dimension for Black Americans and brought equality. Overall, the Harlem Renaissance differs from other African American literature. This is because it reflects the general fascination with the ancient African history. Also, it provides the diversity using several themes emerging with the characters of Harlem Renaissance. The use of imagery and religious verses captures the African American past alongside its rural southern roots, urban experience, and African heritage that most African American literature have not considered.
Work Cited
Carl Van Doren, “The Younger Generation of Negro Writers,” Opportunity 2 (1924): 144–45. Van Doren’s Civic Club Dinner address was reprinted in Opportunity.
Carroll, Anne. “Art, Literature, And The Harlem Renaissance: The Messages Of God’s Trombones.” College Literature 29.3 (2002): 57. Academic Search Complete. Web. 16 May 2013.
Chasar, Mike. “The Sounds Of Black Laughter And The Harlem Renaissance: Claude Mckay, Sterling Brown, Langston Hughes.” American Literature 80.1 (2008): 57-81. Academic Search Complete. Web. 6 May 2013.
Rudolph Fisher, “The City of Refuge,” in The New Negro, 57–8. The City of Refuge was first published in The Atlantic Monthly, February 1925.
Woodson, Carter G. The History of the Negro Church. 1921. 3d ed. Washington, DC: The Associated Publishers, Inc., 1992.
With a student-centered approach, I create engaging and informative blog posts that tackle relevant topics for students. My content aims to equip students with the knowledge and tools they need to succeed academically and beyond.
by Herman Bailey | Feb 23, 2023 | Essays |
Can you Hear Us Now?
The world has become a smaller space with the emergence of technology. Tasks have become simpler and it is easy to communicate with people from different parts of the world. The article, Can you hear us now? By Frank Bures explores the impact of technology in the developing countries in Africa. Frank uses his own experiences to explain how technology has grown and is developing Africa. He explains that when he first went to Africa it was difficult to call back home. He says the phones were either broken or too slow to connect. When he returned, several years later he was able to call his wife to be without any difficult from his mobile phone. Africa is need of technology and this technology is essential in the poverty fight.
People Also Read
Technology is useful in Africa since it is essential for not only communication but also to provide clean water and easy cooking methods for the women. Frank reports and states that a World Bank report found that technological advances were the primary way of reducing poverty in developing countries (Bures 1). The number of people leaving on less than a dollar per day is expected to reduce with the impact of technology. Developing countries are starting to catch up with the world technology, for instance it is easy to make a phone call from Africa to America. This paper explores ways in which technology can be used to fight poverty. The paper, shall refer to Frank Bures’ paper, Can you hear us?
Developing countries, especially those in Africa are constantly faced with challenges technological, political, and economic. All this challenges are attributed to poor mechanisms of collecting and sharing data essential or decision-making. Through sound policies, catastrophes can be mitigated before they are critical. Using technology means that programs are crafted to help the vulnerable populations deal with various issues facing them (Davis 1). For instance, the wide use of mobile phones can be implemented to ensure democratic elections. Through the biometric technology, election results can be free from manipulation. India is an example of a country that has used this technology. The government of India registered more than 200 million people in the national biometric Identification Effort in a period of less than two years.
Technology is also essential in maintaining peace and unity. Frank Bures, explains one such technology is that developed by Hersman in 2008. Ushahidi.com would let mobile users to report incidences of crime and violence after the Kenyan 2007 post-election violence. Through the technology, it was easy to detect worst hit areas during the violence and put in place mechanism to foster peace. Additionally, Ushahidi.com is used to track elections in India and violence in Congo. The Application is also used to monitor environmental destruction in Madagascar. Ipaidabribe.com is used in India, Kenya, Indonesia, Tanzania, Zimbabwe, and Madagascar to curb corruption by allowing people to report corrupt officials anonymously (Mpogole 10).
Most rural parts of Africa depend on firewood for both cooking and lighting. This dependency has resulted in the destruction of forests and is contributing to the global climate change. Previously solar energy was mostly used for cooking. With its limitations however, most women would prefer using firewood for cooking. Using firewood has its health effects; the smoke can cause respiratory diseases especially in children and women. New technologies such as the D-light solar lights are commonly used in most rural parts of Africa. The light is not only cheap to buy, but also cheap to maintain. With such technologies, children can do their homework and women can cook without straining their eyes.
The emergent of new technology has made it easier to transfer money from one country to another. At least every household in Africa owns a mobile phone. Most mobile phone users use them to increase their income and professional opportunities. The phones are also used to provide affordable mobile banking. For example, the M-Pesa service with more than 30 million subscribers is used for mobile money transfer for both people with bank accounts and those who do not have bank accounts (Sindewald 1). Many people in the developing world now own pay pal accounts and are able to do online banking transaction with so much ease.
Technology use also encourages innovation of the human mind. The use of technology should not substitute the human mind. It should however be used to magnifier the human intent and capacity. Technology use should bring out the innovative ideas among children and young adults. The greater the capacity of a person then the more the technology will deliver.
Conclusion.
The world is significantly becoming a smaller space with technology. These technological advances are not only witnessed in developed countries but also now witnessed in developing countries. Africa for instance has developed immensely is expected to develop even more with the use of technology. Technology is not only used to fight poverty but also to foster peace and report corrupt individuals. Through Ushahidi.com, the violence is Congo is being followed. Ipaidabribe.com encourages citizens to report corrupt officials without fear of intimidation. These new technology has made it easy to communicate, is also useful in environmental conservation and used in mobile banking. New technology is encouraging innovation among the youth and children.
Works Cited
Bures, Frank. “ Can you hear us.” Winon Daily News, 2015.
Davis, Susan. “Can Technology End Poverty?” Harvard Business Review. March 2013.
Mpogole, Hoseah. “Mobile Phones and poverty alleviation: A survey Study in Rural Tanzania.” Karlstad University, 2008.
Sindewald, Laurel. “On the Effects of Mobile Phones on Poverty in Africa.” Rural Systems, Inc. July 2014.
With a student-centered approach, I create engaging and informative blog posts that tackle relevant topics for students. My content aims to equip students with the knowledge and tools they need to succeed academically and beyond.
by Herman Bailey | Feb 23, 2023 | Essays |
Introduction
The Masques of the red death is a literacy work by Edgar Poe that presents a very old theme as old as the medieval play of morality by Everyman. The Tell-Tale Heart is another short story by Edgar Poe about the guilt of murder was published in the 19th century. The narrator in the story is a man who is confessing to killing an old man who is under his care. This paper shall give the plot in both stories and discuss the symbolism and themes in both stories.
People Also Read
The Masque of the Red Death story begins, by describing that a terrible disease called Red Death has struck the country. The disease is incurable and has killed half the population of the kingdom. With all the deaths taking place, the ruler of the kingdom Prince Prospero does not seem to care about the poor people dying. He literally leaves the kingdom to take of itself as he and his subjects shut themselves in the castle away from the disease. Prospero’s is very rich, even in death he still affords to party and dance. The prince welds the doors of his castles, meaning that they are shut. Later after six months, the prince decides to have a masquerade ball, where guests are dressed in masks and costumes. The ball set up is wild just as the prince designed it. The ball is set in a suite of seven rooms with different colors, blue, black, violet, orange, purple, green, and white. The dark room is dark and creepy. The room looks like death, it has dark black walls, blood-red windows, and a big black wall that makes sounds every hour scaring everyone at the party. Most attendees of the party seem very scared to go into the black room. For a few hours, the party goes on and everyone is happily dancing and interacting. The clock strikes midnight and everyone goes quiet as the norm when the clock chimes. A guest no one has seen before arrives and all attention turns to the guest. He is dressed as a corpse that has died from the Red death. The guest is frightening to look at and starts stalking the frightened crowd. The prince notices the guest arrival and behavior. The prince is furious that someone would have the audacity to wear such a frightening costume. He orders the guards to seize the strange guest and unmask him. The guards all frightened do not have the nerve to seize the strange guest. The prince himself looks frightened too.
The guest in the Red death costume passes close to prince and walks towards the black room. The Prince is furious and runs after him full of rage as he drew his dagger ready to strike. As the prince is about to reach him the guest in the red death costume turns around to face him, the Prince falls on the ground and dies. The crowd of guest runs towards the strange guest and discover that there is nothing under the costume. The red death itself had come to the party. The guests one by one fall down and die. All the lights go out and leave darkness, decay of bodies and the red death.
The main symbol is the Masque of the Red Death is that that no one can escape death. The Prince welds the doors of his castle preventing anyone from going out or in. However, death still creeps in kills everyone in the castle despite their wealth and luxurious lives. The black room is also a symbol of death. When the red death arrived, it headed for the dark room (Poe, 1842). The room had black walls and red windows. When light shone through the windows anyone in the room was red, a symbol for the red death disease. Every guest was too afraid to go into the room. The clock in the room frightened everyone as if to warn them that death was drawing close. The ticking of the clock is a symbolism of the ticking away of life, as one grows old. It is also said that after everyone died the clock stopped ticking symbolizing the loss of all lives.
Another symbolism is the seven rooms. The rooms were very different from each other all running from west to east. The rooms are a symbol of the seven deadly sins. The sins of lust, laziness, greed, pride, gluttony, anger and taking what does not belong to you. The Prince was selfish and arrogant. He left the poor subjects to die from the Red Death while he and his subjects locked themselves in the castle and even hold a party. I believe that Prince committed all the seven deadly sins hence his death in the black room.
Prince Prospero is a symbol of wealth and Prosperity. The Prince was very rich and had very many subjects. The death of Prospero symbolized the end of feudalism. His inviting of only the wealth knights and women to his castles at the expense of the poor subjects and commoners dying from the red death signifies the divide between the rich and the poor. There is a socio-economic difference that existed between the landowners and peasants during the feudalistic period. During the time, the Black Death reduced the number of workers leading to the demand of labor and end of feudalism in Europe.
In the Tell-Tale Heart, the narrator explains his relationship with the victim and ascertains that the old man had never done him any wrong but could not stand his filmy blue eyes and his pale. He adds that he was afraid of the eye since it reminded him of the vultures’. The narrator does not try to clean his sanity. His foolishness and desire drove him to killing an innocent old man. Before killing him the narrator is very kind to the victim, and every midnight sneaks into the man’s room and shines a lantern onto his eyes. The eye is close and the narrator feels like getting rid of the eye and not killing the man. During the day, he attends to the old man well to avoid suspicion. One night the narrator visits the old man in his chambers, his lantern falls, and the old man is awake. The old man is too afraid and stays awake for a while. The narrator lightens the lantern and he sees the old man’s blue eye now fully open. The narrator attacks the old man, drags him across the floor, and suffocates him with a mattress. The old man dies. The narrator laughs hysterically as he describes how he cleaned the corpse off the blood (Poe, 1852).
Tell-Tale Heart is a contradictory short story. The story illustrates psychological contradiction that take place in a murderous life. The narrator begins by admitting that he is nervous and at the same time says he is not a lunatic. He is very defensive against being called mad. He says that since he is nervous he is sane. The narrator tells the story in a precise manner by describing all the events that led to the murder and the plea for his sanity. The ways the events are narrated describe the narrator as a lunatic despite his plea for sanity.
The narrator murders an old man and says that he got of his blue eye. To the narrator the eye is different from the old man. He murders him but still says that he loves him. It is the desire to get rid of the eye that motivates the narrator to kill. To him killing the eye cannot end the old man’s life. The story presents another contradiction between the narrators love and hate. Rom the mystery, Poe explains that sometimes people harm those they love and need in their lives. The narrator loves the old man, he not vengeful. He however, reduces the old man to the blue vulture like eyes. To him the eye is evil. The eye is symbolism for the person of the old man and part of his identity and cannot be isolated from it.
Conclusion.
Both the Tell-Tale Heart and The Masque of the Red Death carry the theme of death and life. The red death itself and the black room symbolize death in the Masque of Red Death. The Blue eye (Vulture eye) represents the Tell-Tale Heart on the other hand, death. The vulture uses its eye to spot food or prey. It scavenges until the animal dies for a chance to feed on its carcass. Whenever the narrator saw the old man’s blue eye he felt like he was prey and death was waiting him. The eye threatened and watched him; he says whenever the eye looked at him his blood-felt cold. In addition, the narrator is afraid of the eye because it was as if it looked into his thoughts and violent plans.
References
Poe, E. (1850). The Tell – Tale Heart. NYU School of Medicine. Litmed literature Arts Medicine Database.
Poe, E. (1842). The Masque of the Red Death. Dower Thrift Edition. New York.
With a student-centered approach, I create engaging and informative blog posts that tackle relevant topics for students. My content aims to equip students with the knowledge and tools they need to succeed academically and beyond.
by Herman Bailey | Feb 23, 2023 | Essays |
The two pieces of art that I am comparing are two forms of Ecce Homo (Behold the Man!), based off of the famous Biblical sene of Pilate and the trial of Jesus Christ. The first painting is made by Michelangelo Merisi da Caravaggio in the year 1605. Painted during the Broque era, this painting demonstrates the atmosphere of the time of religious revival blended with Michelangelo’s own touch of dark and light colors with no background.
People Also Read
The second painting is of the same scene of the trial from Antonio Ciseri’s perspective. Painted in 1871, this painting shows reminents of the Romantic era, with bright colors and dramatic scenes and our hero in the center of it all (Jesus, not Pilate). The Romantic era focused on emotions and the feelings we see from paintings, and in Ciseri’s version of Ecce Homo, we get a sense of pain for Jesus, the frustration from Pilate as he argues with the crowd below, and the sadness from Pilate’s wife to the right.
In terms of similarities, the two paintings share some common traits. First is the historical aspect, in that they both are representing a scene from the Bible of the trial before Pilate. Secondly, they both use bright colors to ensure that the viewer notices the main figures that Michelangelo and Ciseri both wanted to bring out. The bright colors also help to give way to the fine and elaborate details in the scenes, from the individual thorns and facial expressions on the figures in Michelangelo’s painting, to the robes and garments that cover the figures in Ciseri’s painting. Also, both paintings show signs of realism in that they both look as if someone jumped back in time and shot these scenes with a camera, because of the detail and emotions that run through the viewer of the sorrow and looks on their faces. Finally, both represent times where religion was vibrant and alive, and where the Catholic Church was expanding its borders and reviving the ways of the Bible through historical and biblical texts and stories in paintings and other forms of the art.
These two works have very significant purposes as they give us a glimpse as to how the actual trial of Jesus occured. Though no photgraphy was around to capture the moment, and all we can follow up on are accounts and the Bible, the true minds of these artists come alive in their imagination. Thus, we are given the chance to see how the different eras became integral in their pieces. From the Baroque era, we see how Michelangelo encompassed both the religious revival of the Catholic Church in dramatic fashion with the amount of detail in the faces and bodies. The Baroque also showed a distinction of realism that was not yet realized. The Baroque era “focused on realism in portraits (with an attention to physical details), expansive landscapes, and a focus on the dramatic including the contrast between light and shadow and the use of rich, deep colors (MindEdge, Connections Across Disciplines, 7)”. You can see how the dark colors of Pilate may represent evil and the light colors of Jesus’s body represent the good. Blended with a dark background, this painting shows how the mood must have been during the trial, and how the Bible tells that Jesus stood in silence and accepted his fate without a struggle. Similar too is the painting done by Antonio Ciseri where there are traces of Romanticsm. Going on a more emotional take to the scene, we see Pilate is leaning over the edge in disguise as he argues with the crowd over what should become of Jesus. We also see the incredible amount of detail that is presented, so much so even Ciseri thought to include people on the roofs of the buildings, as well as the crown of thornes on Jesus’s head. It is truly realism in the fact that this painting looks as if it was shot by my camera at that exact moment. The same goes with Michelangelo’s painting, but shot closer to the figures while relying on capturing the exact details of the bodies and facial expressions.
Second discussion
Elisabeth Louise Vigée Le Brun was an important portraitist before the French Revolution. She was a friend to Marie Antoinette and painted many portraits of the Queen of France. The work I’ve chosen is a painting called “Marie Antoinette with Her Children”. Le Brun was a female painter in a male dominated world. She was still a teenager when she was accepted into painters’ guild of the Académie de Saint-Luc (www.biography.com). Marie Antoinette was very typically outfitted at all times in the flamboyant Rococo style and this painting represents that style well.
Link: http://www.abcgallery.com/V/vigeelebrun/vigeelebrun3.html
Kathe Kollwitz was another important female artist. Her sculpture “Pieta”, based on her series of etchings called “Woman with her Dead Child”, stands as a memorial to victims of the destructions of war. Kollwitz lost much in her life, but that didn’t stop her from producing anti-war propaganda in World War II (http://www.rogallery.com/Kollwitz/Kollwitz-bio.htm). Her work is very Expressionist in style in that she didn’t focus on reality in the physical sense but on the feelings of the work and the feelings she wanted to inspire in her audience.
Link: http://theculturetrip.com/europe/germany/articles/k-the-kollwitz-and-berlin-s-neue-wache/
This excerpt from my essay is where I started to compare the similarities of the two works/two artists.
The most obvious similarity between the works of art are the depiction of mother and child or children. Both works preceded war, the French Revolution for the painting and WWI and WWII for the drawings the sculpture was based on. The artists are both women who succeeded in the art world though facing adversity. Le Brun left France during the Revolution (www.biography.com) and Kollwitz was forced to leave Berlin during World War II (http://www.rogallery.com/Kollwitz/Kollwitz-bio.htm). The painting depicts an ordinary day of a mother with her children, Queen or not. The statue shows the worst that a mother would have to endure.
Bottom of Form
With a student-centered approach, I create engaging and informative blog posts that tackle relevant topics for students. My content aims to equip students with the knowledge and tools they need to succeed academically and beyond.
