International Business Coursework Example | Topics and Well Written Essays - 2500 words

International Business - Coursework Example To this end, it is submitted at the outset that within the current framework, the globalisation of world politics and the complex nature of international relations in the contemporary environment has meant that increasingly the dynamic of international relations is intrinsically dependent on where the balance of political power lies within the international framework beyond the confines of theoretical ideologies underlying international relations theory (Siracusa, 2010). For example, Randin argues that arguably the most comprehensive manner to understand international relations is the interrelationship between state interest and where the balance of power lies within the international framework as evidenced by the post September 11 system of international relations (Randin, 2006; Baylis et al, 2008). Indeed, a prime example is the current conflict and concern regarding the UN resolution for a no-fly zone over Libya which was sanctioned irrespective of abstentions from numerous states . As such, this paper will review international relations theory and highlight the gap between theory and reality as highlighted by the contemporary socio-political framework of international relations (Baylis & Smith, 2005). ... n international relations is realism, which developed in the aftermath of the Second World War as reflected by the United Nations Charter, which focuses on mutuality of obligations in preventing a repeat of the atrocities of the war (Siracusa, 2010). This traditional model of realism was a product of its historical context and has continued to evolve (Randin, 2006). For example, within the realism paradigm, there are two strands of thought, namely; traditional and structural realism (Burchill et al, 2001), with leading theorist Morgenthau being a leading proponent of structural realism and Waltz was a leading proponent of neo-realism (Randin, 2006). Morgenthau’s theory of realism argues the theory of international relations being rooted in â€Å"philosophical basis of realist principles of human nature† (In Randin, 2006, p.15). The central basis of this argument is rooted in Morgenthau’s perception of human nature’s innate desire for power (Morgenthau, 195 4). On this basis, from a foreign policy perspective, the role of diplomats is important as a tool in the inherent power struggle at international level for ensuring priority is accorded to state interests (Milner, 1992). Whilst, this realist model of international relations has continued to evolve, it has nevertheless fuelled polarised debate between Hobbes’ realism model and Kant’s idealist model of international relations and the continued relevance of either in contemporary international relations (Borrie & Randin, 2006). For example, a core element of Kant’s theory of wills regarding freedom, public and private interest refers to the overriding Kantian notion of the â€Å"Supreme Moral Principle of Good Will† (Kant, in Nisbet & Reiss 1991). For example, Kant’s philosophy is rooted in an innate moral

TFYJUTG Essay Example | Topics and Well Written Essays - 1750 words

TFYJUTG - Essay Example military buildup was intensified at the Persian Gulf. During this time, President Bush, other top U.S. officials and British Prime Minister Tony Blair were continually indicating that Iraq were not willing to offer full corporation with U.N. weapons inspectors, even when top world leaders from France, Germany and Russia called for more time for the exercise. Bush Administration intensified its allegation of the Iraq’s alleged weapons of mass destruction after the September 11, 2001 terror attacks. Bush named Iraq, Iran and North Korea as evil nations in his State of Union address in 2002. The vice president Cheney also accused Saddam Hussein of seeking weapons of mass destruction as an avenue of dominating Middle East and to threat the U.S. oil supplies. The allegations fueled speculations of the likability of the U.S. to act unilaterally against Iraq. The United States invasion of IRAQ was not justified because there is no evidence that IRAQ has Weapons of Mass Destruction, c omplicity in the 9/11 attacks, and or al –Qaeda connection. The root of conflict between U.S. and Iraq is the firm position of the U.S. especially under Bush Administration that Saddam must be toppled since he cannot be deterred from using weapons of mass destruction. ... Explanations from oil, imperialism, militarism, Israel and free markets have been offered, some of which are mutually exclusive, and all seems to enlighten more than they satisfy the human need for simplification. The reality behind the war may seem complex but is decidedly explicable. Iraq had multiple causes of war, thus one do not have top subscribe to an inscrutable force without agents to accept that the phenomenon was complicated. Key factors of the invasion were not driven by the same motives nor did the decisions reached simultaneously. The war was prosecuted by President Bush, Dick Cheney and Donald Rumsfeld, but it was conceived by the neoconservatives. It is clear that the September 11, 2001 attack was the catalyst, which was triggered by the neoconservatives. The neoconservatives’ interest s of toppling Iraq preceded that of the U.S. Moreover, change of regime has been official policy of the U.S. since 1998 and even for a longer time. However, this can be understoo d to be diplomatic pressure, convert action and economic strangulation, and not for the reason of threat of nuclear weapons (Roe 11). The foreign policy study groups, the Vulcans, headed by Condoleezza Rice argued that the military power of Iraq had weakened and thus United States can live with a nuclear Iraq. The change of the mood can be partly explained by the September 11. However, this does not make the war inevitable since there was the need to manipulate the public opinion as well as the bureaucratic hurdles to overcome. Iraq was only required to put on the agenda as an imminent threat to justify the pre-emptive war. This is why the allegations of Iraq’s ties to Al-Qaeda and its possession of weapons of mass

Plato and Aristotle Essay Example for Free

Plato and Aristotle Essay 1. What are the major differences between Plato and Aristotle? Make sure you provide examples. Basically, Plato and Aristotle are highly different in their philosophical beliefs and their various teachings.   The main philosophy of Aristotle is to possess virtue in order to achieve the ultimate goal which is happiness. In order for people to possess virtue, he also believed that everything should be done in moderation only and not too sparse or too excessive. On the other hand, Plato used logic and dialogue as his main tools together with the aid of mathematics in order to arrive with rational conclusions so as to know the universal truth. Moreover, Aristotle strongly believed that acts of good must be habituated in order to become a virtue while Plato believed that merely knowing what is good is enough to be able to do good even without actually doing it. Another major difference between the two is their beliefs in metaphysics. Plato’s believed that there are higher or ideal forms that can only be acquired through knowledge while Aristotle believed that form and matter are inextricably bound and coexist. 2. Are you a Platonist or an Aristotelian? Provide specific examples to help illustrate your points. I am basically a Platonist simply because there are more of this teachings that are applicable today than Aristotle such as his theory of the universal ideal forms. For example, when looking for an ideal friend, that person I am searching for must possess the qualities that I desire. However, it is a well-known truth that there is no such thing as â€Å"perfect† or â€Å"ideal.† But since I know what an ideal friend is, I now have a pattern which I will use as a basis as I search for my ideal friend. I may not be able to find that person but I would definitely meet someone close to that, which is like the shadows that Plato described in the Allegory of the Cave. In addition, I know that the both the sky and a pair of blue jeans are both color blue. Although, in reality, they are not of the same color, I somehow have an idea of what blue is because it preexists in my mind.   Another reason that I also consider myself as a Platonist is because I do not believe in Aristotle’s idea that by possessing virtue, once can achieve happiness. For me, his belief is too idealistic, although his use of formal logic and scientific methods such as deduction and observation is still applicable today.

Knots in My Yo-yo String Essay Example for Free

Knots in My Yo-yo String Essay Knots in my Yo-yo string is an autobiography written by Jerry Spinelli. Jerry Spinelli describes his childhood in first person which allows the reader to feel like he or she is there. To describe the book, the author has written this book to be about his childhood. The community in which the author lived in had impacted his life from being an ordinary Pennsylvania boy to a Newbery Medalist Author. Even the people in his life have helped him reach his career as a writer. I think that the community that the author lived in had some changes on his life. Some of the people that helped affect some changes in the authors life was the authors friends. The authors friends helped him a lot by hoping for him to win the election for president in his school. I also think that his parents had a lot to do with affecting some of the things in the authors life. For example, the author probably would not have his bike that he got for Christmas if his parents did not sacrifice going to the movies or going bowling, so that they could make sure their kids had most of the things they wanted. This is how the authors community had an affect on the authors life. The fact that he was naturally talented gave him an advantage when becoming a writer. Some other reasons why he is such a good writer was because he was not the average kid, he was the kind of kid that paid attention in class, when all the other kids were fooling around. He was very dedicated to his school work. Further more he had a great imagination, and an even better writing ability to have the reader in suspense. Some similarities when writing a book and playing sports is that you always have to be focused.

Re-branding and Repositioning of the Republic Bank Group

Re-branding and Repositioning of the Republic Bank Group Practicum:â€Å"The Re-branding and Repositioning of the Republic Bank Group: The Case of Republic Bank DR S.A.† Executive Summary A brand is the sum of the customers experiences with the products or company how the customer thinks and feels about what the business does. The brand is transmitted in every interaction with the customer over the lifetime of the relationship and is therefore built from the customers entire experience with the company, not just through the companys communicated identity. It therefore plays a critical role in building trust and loyalty. According to the 4-D Branding model devised by Thomas Gad (refer Appendix 1) the brand operates at four different levels in the mind of the customer. These four levels include the functional (the perception of benefit of the product or service associated with the brand), the social (the ability to create identification with a group), the spiritual (the perception of global or local responsibility) and the mental (the ability to support the individual mentally). These four dimensions are derived from the customers experiences at the brand touch-points and combine to form the customers overall perception of the brand. The challenges facing brands today however are numerous, and in financial services the challenges are even more acute because of the intangibility of the facilities being provided. In the case of banks that operate in diverse territories, the major challenge lies in the ability to balance global or regional brand integrity with local cultural authenticity. These brands must be viable on a global or regional scale, but remain relevant at the local level. The Republic Bank Group faced this dilemma as it expanded its operations to embrace several Caribbean territories with different cultures, preferences, languages and modes of behaviour. The branding challenge in such an environment can become quite complex, with the level of complexity multiplying across subsidiaries and divisions of the bank, product lines, markets and even advertising agencies. Controlling brand identity in such an environment can be exigent. The case of Banco Mercantil, Republic Banks subsidiary in the Dominican Republic, however posed a different challenge. The viability of that brand was undermined by a combination of internal (mismanagement) and environmental (economic decline and near crash of the financial system) factors that led to the complete erosion of its brand equity in a relatively short space of time. The brand ceased to engender trust and confidence among its customers and while it still existed at the functional level from the point of view of providing banking services, it was devoid of credibility at the social, spiritual and mental levels. Following qualitative research involving a population of 1200 households spanning the banks three major market segments (mass, private and corporate/commercial), the bank faced the decision of rebuilding the existing brand; re-branding with a completely new identity or adopting the identity and brand of the new shareholder. Subsequent to SWOT and force field analyses being conducted, the decision was taken to re-brand Banco Mercantil by adopting the parent or heritage brand i.e. Republic Bank Limited through the introduction of the name Republic Bank DR S.A. and reposition the operations to focus primarily on the private banking and corporate and commercial market niches in the Dominican Republic. The re-branding exercise spanned two geographic locations and several stakeholder groups, from employees to customers and regulators in the Dominican Republic, as well as the shareholder in Trinidad and Tobago. May 5, 2005 was a historic day in Republic Banks history as it signalled the start of a re-branding process that should embrace the entire banking group. Such an exercise is critical at this time, as the Bank continues to broaden its footprint within the Caribbean, prepare itself for increased competition in the markets in which it currently operates, and positions itself to win the minds and hearts of regional customers. Several considerations were apparent in the change of name of the Dominican subsidiary to Republic Bank DR, foremost among them being the cultural implications of adopting the new name and the values that were imbedded in the brand. While the values themselves were not alien to the Dominican society, there were some differences in their interpretation stemming from cultural and social indoctrination. The rigorous systems and procedures for example, which are inherent in the British banking system that Republic Bank inherited from its predecessor Barclays Bank, were not as stringently applied in the Dominican Bank. The non-application was less a display of deviant behaviour and more a response to cultural norms and values consistent with the Latin culture. A thorough understanding and appreciation of the divergence in the cultures of the Caribbean were critical to the formulation and execution of an effective communications programme during the change process from Banco Mercantil to R epublic Bank DR, in order to ensure understanding and acceptance of the change. The primary drivers for change in the case of Banco Mercantil were the absence of equity associated with the proprietary brand, arising from the loss of trust and confidence in the bank, the disillusionment of the banks employees which impacted performance and hence business viability in the short, medium and long term, and the strong desire to turn the banks fortunes around. These driving forces strongly outweighed any restraining forces that might have existed, including the loss of corporate identity and national pride. The force field analysis performed in the course of the study clearly revealed the need for change. The change of name from Banco Mercantil to Republic Bank DR S.A. is historic in the Republic Bank context, as it is the first of Republic Banks acquired subsidiaries to undergo a retirement of its proprietary brand and the adoption of the overarching heritage brand. The Banks customary approach of maintaining the proprietary brands of acquisitions has resulted in the Republic Bank Group carrying a diverse portfolio of corporate brands in the Caribbean, culminating in a somewhat complicated brand landscape, and under-leverage of its heritage brand outside of its principal market, Trinidad and Tobago. The re-branding of Banco Mercantil therefore provides the catalyst for, and the foundation upon which the re-branding of the Republic Bank Group may be undertaken. The major hindrance to the achievement of this objective however is the strength of emotion and national pride that still surround the brands of the acquired subsidiaries in Grenada, Guyana and Barbados in particular. From a Republic Bank Group perspective there are also several important drivers advocating re-branding of the entire banking group. These include the increasing globalisation of business, the imminent introduction of the CSME and eventually the FTAA or other similar trade agreement; the Banks need to broaden its regional footprint to be in a position to take advantage of opportunities that would arise from increased globalisation, and the equity that would be derived from a significantly stronger and more cohesive brand. Whether approached as a big bang or on a phased basis spanning weeks, months or years, a re-branding of the entire banking group would derive significant benefits in the long term from financial, identity, cost and control perspectives. In the final analysis, the eventual success would not only be measured by the presence of physical artifacts such as Republic Bank signage on branches and offices in all of the islands. It would also be measured by the Banks ability to leverage financially from its corporate brand in several areas of business, and to provide a consistently high quality of service in all markets. The long-term objective however would be the achievement of the vision of being the bank of choice for customers, staff and shareholders and in so doing capturing the minds and hearts of the Caribbean people. Declaration Form for the reproduction of the document Given the highly competitive nature of the banking industry in the Caribbean and hence the confidential nature of the information contained in this study, reproduction or sharing of any information contained herein is strictly prohibited without expressed and written consent from the author and Republic Bank Limited. 1. Introduction Origins and Purpose The Republic Bank Group is one of the largest and most profitable financial services groups in the Caribbean. Originating from Barclays Bank and its predecessor Colonial Bank, Republic Bank has served the people of the Caribbean, specifically Trinidad and Tobago for 168 years. This study seeks to reposition and re-brand the Republic Bank Group, as the Bank moves closer to its vision of being the â€Å"Bank of Choice in the Caribbean†. Re-branding of the Group is particularly critical at this time, as the Bank continues to prepare itself for increased competition in the markets in which it currently operates, as well as for further expansion within and outside of the Caribbean. 1.2 The Case of Banco Mercantil In establishing a framework for the re-branding exercise, the study looks specifically at the case of Banco Mercantil S.A., Republic Banks subsidiary in the Dominican Republic, which was recently re-branded and repositioned in that market (May 5, 2005). The new bank, Republic Bank DR S.A. will focus primarily on the private banking and corporate and commercial market niches in the Dominican Republic, as it charts a path to profitability. In conducting the study, attention was paid to the process that was required in the execution of the re-branding and the benefits to be derived by the brand arising from the change of name and identity. In discussing the re-branding of Banco Mercantil, the study analyses the corporate identities of Republic Bank and Banco Mercantil to ascertain their status and the existence of any disconnects that might exist. It also identifies the reasons for the Banks earlier hesitation at re-branding its Caribbean acquisitions, the cultural shifts that are required at both the parent and subsidiary levels, the move to commence the process in the Spanish-speaking Dominican Republic and the foundation that is laid for an escalation of the re-branding process throughout the Caribbean. The framework established for the re-branding of Banco Mercantil, and detailed in this study, may be used with appropriate adjustments to cater to cultural, social and political differences, to the re-branding and repositioning of Republic Banks other Caribbean acquisitions, namely the National Commercial Bank of Grenada Limited (NCB), The National Bank of Industry and Commerce Limited (NBIC) in Guyana and the Barbados National Bank (BNB). 1.3 Historic Step The change of name of Banco Mercantil to Republic Bank DR S.A. is historic in the Republic Bank context, as it is the first of Republic Banks acquired subsidiaries to undergo an identity change, and would as suggested above, provide the catalyst for, and the foundation upon which the re-branding of Republic Banks Caribbean empire might be undertaken. 1.4 Approach The study adopts an analytical approach to the re-branding exercise and draws upon the results of two surveys conducted in the Dominican Republic and Grenadian markets to test the corporate image of Republic Banks subsidiaries in those countries. It also employs several change management and corporate identity management models in its analysis of the current situations in the Dominican Republic and the Southern and Eastern Caribbean, and in devising recommendations for the Groups re-branding. The historic background of the Republic Bank Group is described, the environmental landscape in the Dominican Republic examined and the mood for change in that country discussed, to put into context the decision to re-brand Banco Mercantil. The study also employs Kurt Lewins model for change specifically in the execution of the re-branding of Banco Mercantil, and in so doing provides a framework for executing similar changes in other subsidiaries in the future. Fundamental marketing concepts articulated by Kotler and Jeannet and Hennessey were combined with more recent models related to branding by communications and branding experts such as John M.T. Balmer and Stephen Greyser as well as the use of the robust strategic models from experts such as Lewin, Mintzberg and Kammerer. The mood for change in the Southern and Eastern Caribbean and the macro environmental drivers that have impacted the Banks hesitation at re-branding its subsidiaries thus far were also diagnosed and analysed, using Force Field Analyses. These examined the driving forces pushing for change of the brand, as well as those restraining forces working against a change and advocating maintenance of the status quo. Comparative SWOT Analyses were also conducted to determine the most significant areas of weakness and opportunity, and to devise strategies aimed at maximising the strengths of both the Dominican subsidiary and the Group. An integral part of the change process involved in the re-branding of Banco Mercantil, was the analysis of that banks corporate identity, the corporate identity of Republic Bank Limited and a comparison of the results of both tests. This analysis was undertaken using the AC ²ID Test model devised by Harvard Business School professor John Balmer. The test threw up some interesting, albeit not surprising facts, which influenced the decision to change the banks name, as well as the choice of name itself. 1.5Benefits Republic Banks post-acquisition strategy previously advocated retention of the proprietary brand of the acquired subsidiary, rather than retirement of the weaker brand following analysis, or even retirement of the acquired brand in favour of the acquirer brand. This has resulted in the Bank carrying a diverse portfolio of corporate brands in the Caribbean, culminating in a somewhat confusing brand landscape, and little or no physical presence of its heritage or overarching brand outside of Trinidad and Tobago. While Republic Bank enjoys a strong corporate identity, high top of mind recall, strong citizenship recognition and a positive corporate image in its primary market, Trinidad and Tobago, its diverse portfolio of brands causes its corporate brand to be lowly leveraged in the other Caribbean territories in which it operates. Its vision of being the bank of choice in the Caribbean could therefore be stymied by its brands low leverage and physical absence in the non-Trinidad and Tobago territories in which it operates. In those countries the heritage brand (Republic Bank) provides an endorsing role at best, and is essentially represented by the brands of its acquired subsidiaries. The brand proposition of each of the subsidiary banks also varies. The re-branding of the Group to achieve a strong, unified and consistent brand identity is of particular importance to Republic Bank at this time, as the Group seeks to buy a place in the minds and hearts of regional and global customers. This study therefore produces the framework required for such a mammoth re-branding and repositioning exercise and in so doing provides a model that may be customised and employed in future corporate marketing exercises. 2.Background 2.1The Republic Bank Group Republic Bank Limited is one of the oldest and most successful indigenous financial services groups in the English-speaking Caribbean. Republic Bank evolved from the British bank, Barclays Bank Dominion Colonial and Overseas (DCO) and its predecessor Colonial Bank that was established in 1868 to provide banking services to the British expatriates involved in the islands sugar cane industry, and later to the freed slaves and indentured labourers. Today Republic Banks ownership is widely dispersed embracing over 10,000 individual and institutional shareholders. Republic Bank currently operates in eight Caribbean territories through 14 subsidiaries and offices in Barbados, Grenada, Guyana, Dominican Republic, Cayman Islands, St. Lucia, Cuba and Trinidad and Tobago, and employs over 4,700 persons in the Caribbean. With an asset base of US$5 billion (TT$28.6 billion) Republic Bank recorded after tax profits of US$105.4 million (TT$664 million) in its last financial year (2003/2004). The Banks earnings per share in that year was TT$4.17 with return on average assets of 2.44% and return on shareholders equity of 18.93%. The Republic Bank Vision Republic Bank has identified the following vision: â€Å"Republic Bank, The Bank of Choice in the Caribbean for Customers, Staff and Shareholders. We set the Standard of Excellence in Customer Satisfaction, Employee Satisfaction and Shareholder Value† 2.3Expansion through Organic Growth and Acquisition Republic Bank has employed a strategy combining organic growth and strategic acquisition to facilitate its regional expansion goals over the past 13 years, as it sought to grow its asset base, increase market share and increase profitability. Its first such venture was the establishment of a joint venture merchant bank, Acedo Mendoza Fincor, with the Mendoza family of Venezuela. This operation soon extended to include an office in Panama but the Banks shareholding was eventually sold to the Mendoza family at the start of Venezuelas economic decline in the mid 1990s. That first move at overseas expansion was closely followed by the acquisition of the majority shareholding in the National Commercial Bank of Grenada Limited in 1992. This was followed shortly thereafter by the establishment of an offshore banking operation in the Cayman Islands, the acquisitions of the Bank of Commerce in Trinidad and Tobago and the National Bank of Industry and Commerce Limited in Guyana, the establishment of an office in Havana, Cuba, and the acquisitions of Barbados National Bank in Barbados and Banco Mercantil in the Dominican Republic. Republic Banks largest and most profitable operation at this time is in the country of its home base, Trinidad and Tobago. The Trinidad and Tobago bank alone operates 44 banking branches in the twin island republic and employs 2,790 persons, over half of the total number of persons employed by the Group. The strongest economies in which Republic Bank currently operates continue to be Trinidad and Tobago and Barbados. The weakest economy at this time is the Dominican Republic in the Spanish-speaking Caribbean, though it is showing signs of recovery, followed by Guyana in South America. 2.4The Whole is Greater than the Sum of its Parts Republic Banks organically grown subsidiaries all bear the same corporate identity, which is Republic Bank. The acquired subsidiaries of NCB (Grenada), NBIC (Guyana), BNB (Barbados) and Banco Mercantil (Dominican Republic) all bear their separate names and corporate identities, having retained their original brand names following acquisition. The first three banks, namely NCB in Grenada, NBIC in Guyana and BNB in Barbados, were all â€Å"national† banks in their respective countries, with Republic Bank purchasing all or part of the governments shareholdings. As the â€Å"national† banks, they catered largely to the grassroots and middle-income population and in some cases emerged from the era of nationalism and political struggle in the Caribbean during the 1970s. In the case of each acquisition there was some negative reaction from those nationals who viewed the transaction as a sale of the countrys national heritage to an â€Å"outsider†. This sentiment was strongly expressed during the initial stages of the BNB purchase, where the sale of the Barbados governments shareholding in BNB threatened to become a political issue, in spite of the significant premium that was paid for the shares. That furore has since quelled, as the Barbadian public has been able to witness and experience the positive value that Republic Bank has brought to both BNB and to the financial sector in that country in the last year and a half. Given the history therefore, it is understandable that there would be strong feelings of national pride and patriotism attached to the identities i.e. proprietary brands of NCB, NBIC and BNB, particularly among the grassroots and the middle-income earners in the respective markets. It was for this principal reason strength of national pride and patriotism, and the resultant possibility of customer migration and loss of business that Republic Bank demonstrated its initial reluctance to initiate name changes in the territories, post acquisition. Its post acquisition strategy had been to retain the existing management and employees, once competent, and to preserve the name and corporate identity of the bank, as a means of maintaining the goodwill and equity that were attached to the brand, and so prevent business loss. The Bank focused instead on aligning the systems and procedures of the acquired bank to those of Republic Bank, and providing the infrastructural, technological and intellectual support that would enable the growth and development of the acquired subsidiary, and, by extension the economy of the respective country. Little attention was placed on alignment of the corporate identities or of the introduction or promotion of the corporate identity of the parent company, Republic Bank Limited. This approach of working alongside the subsidiary, rather than implementing drastic changes, triggered little outward disruption to the external environment, particularly customer relationships, and allowed the employees to focus gradually on the cultural shifts that were required to facilitate partial integration into the Republic Bank Group, while at the same time allowing them to retain their original identities. The impact of Republic Bank on those overseas subsidiaries has however been felt over time by customers, the general public and competitors in those markets, as the subsidiaries adopted a more aggressive and energetic stance in their operations, marketing and customer service, growing market share by as much as 10% in one year in the case of BNB. Customers were aware that these changes were the result of the new ownership of the bank and the deepening of the relationship with the parent company, Republic Bank, even though this link was seldom emphasised in external communication. The majority of customers appreciated the changes, since they impacted positively on the levels of efficiency evident in the banks, manifest in the quality of the service that they received, and the broadening array of product offers to which they were exposed. The subsidiaries themselves clearly recognised the value that their association with Republic Bank brought to bear on their banks success and customer interactions, particularly in the area of business facilitation. There is also a growing gratification in the association with a large, successful and powerful Caribbean bank, particularly at this time, when the business emphasis appears to be shifting increasingly toward integration and the benefits of larger size to cope with increased globalisation. 2.5The Mood for Change-The Dominican Republic There is a positive mood for change in the Dominican Republic in relation to the re-branding of Banco Mercantil S.A., fuelled primarily by the countrys desperate economic situation and the virtual collapse of the financial system. The government and many Dominicans viewed as a welcome move, Republic Banks entry into the Dominican financial sector through its acquisition of Banco Mercantil in 2003. It must be remembered that in the midst of Republic Banks entry, was the failure of several other commercial banks, principally due to rampant fraud and mismanagement facilitated by closed ownership the majority of businesses in the Dominican Republic, including the major banks are owned by a few wealthy families and a culture that appears to embrace less stringent ethical standards than those embraced by many countries in the English-speaking Caribbean. The Latin culture in the Caribbean, Central America and South America, is not as supportive of intense structures and systems as is the English culture. Hence the presence of strong systems to support business and demand strong ethical practice was almost absent in the Dominican Republic. Corruption was therefore rife. Additionally, the Latin cultures focus on external appearances as an indicator of success and well-being, also belies the true financial status of organisations and little attempt is made to delve sufficiently deep t o ascertain the reality. A thorough understanding of the divergence in the cultures of the Caribbean was therefore critical to the formulation and execution of an effective communications programme during the change process i.e. movement from Banco Mercantil to Republic Bank DR. Given the negative experiences of the immediate past, the employees and customers of Banco Mercantil were anxious for the presence of a professional organization with wide and diffused ownership, that would introduce systems and procedures to ensure efficiency, effectiveness, high levels of professionalism and business continuity. The regulators and employees alike were also determined to prevent a run on the bank and the consequential loss of jobs, while retaining and growing their existing customer base. Republic Banks good reputation as a sound and professional financial services provider in Trinidad and Tobago preceded it, and the Bank was well respected by the regulators, the small cadre of business and financial officials in the DR who knew of it, as well as by the employees who did their personal research on the Bank and its history and reputation. 2.6The Mood for Change -The Southern Eastern Caribbean The mood for change in the Southern and Eastern Caribbean is less enthusiastic than it is in the Dominican Republic. A survey conducted by NCB Grenada early in 2005 to test the banks corporate image revealed positive sentiments toward Republic Banks influence on the efficiency and general good performance of NCB, and mixed reactions to the possibility of a re-branding of the subsidiary. The underlying reason for this reluctance was the strong feeling of national pride and patriotism that continues to exist in the islands, for the reasons indicated earlier in this section. The reasons are more emotional than logical, and therefore more challenging to overcome, as branding is built to a greater extent on emotion and feelings, than it is on logic and reason. In spite of the strength of these sentiments however, there appears to be a listening to the possibility of change, as the Grenada survey indicated. A listening that Republic Bank should encourage as it contemplates a regional re-br anding of the group. 2.7The Environmental Landscape in the Dominican Republic The Dominican Republic is a Spanish speaking country in the Northern Caribbean bordered by the Caribbean Sea, the North Atlantic Ocean and Haiti. With a population of 8.8 million people, the Dominican economy has had one of the fastest growth rates in the hemisphere over the past decade. The country enjoyed growth in Gross Domestic Product (GDP) of more than 7% pre annum between 1998-2000. Growth subsequently plummeted as part of the global economic slowdown. Although the country has long been viewed primarily as an exporter of sugar, coffee and tobacco, in recent years the service sector has overtaken agriculture as the economys largest employer due to growth in tourism and free trade zones. The Dominican Republic suffers from marked income inequality; the poorest half of the population receives less than one-fifth of GNP, while the richest 10% enjoys nearly 40% of national income. Growth turned negative in 2003 with reduced tourism, a major bank fraud and limited growth in the US economy, the source of 87% of export revenues. The inflation rate based on 2003 national statistics is 27.5%, with unemployment being 16.5% and 25% of the population living below the poverty line. Predominantly Roman Catholic, the ethnic composition of the Dominican Republic differs from that of Trinidad and Tobago, with persons of mixed ethnicity comprising 73% of the population, whites 16% and blacks 11%. This ethnic composition was considered when formulating communication material related to advertising on the re-branding of Banco Mercantil. It will also be considered in the future in the production of standard external communication material such as mass media advertising for the Group. 3.Statement of Opportunity Given Republic Banks stated vision of being the â€Å"Bank of Choice in the Caribbean†, the onset of globalisation which has opened up hitherto inaccessible markets, the imminent commencement of the CSME and FTAA which would open up the Caribbean to large, powerful and influential business competitors, coupled with the aggressive stance of competitive forces within the Caribbean itself, there is an opportunity at this time for Republic Bank to reposition and re-brand its regional subsidiaries, beginning with Banco Mercantil, its subsidiary in the Dominican Republic. 4.Theoretical Perspectives This study embraces several theoretic concepts in bringing about the re-branding and repositioning of the Republic Bank Group and more specifically the re-branding of its Dominican Republic subsidiary, Banco Mercantil. The study utilises a number of theories in change management, strategic business planning and corporate identity analysis in orchestrating the required change. 4.1AC ²ID Test In analysing the corporate identities of Republic Bank Limited and Banco Mercantil the AC ²ID Test devised by Harvard Business School Professor, John Balmer was used extensively. The AC ²ID Test is a model used to assist companies in evaluating and understanding their corporate identities, to identify deficiencies and misalignments often arising from, but not limited to mergers and acquisitions, and to form the basis for realignment or correction of the misaligned corporate identities. †¢The Acid test is a model used to assist companies in evaluating and understanding identify deficiencies The test acknowledges that every organisation has more than one identity, and categorises these into five specific areas that help to shape the overall identity and eventually the image of the organisation. These identities are: ACTUAL IDENTITY this comprises the current, distinct attributes of the company i.e. what it does. COMMUNICATED IDENTITY what does the company communicate via Advertising, Public Relations, and Sponsorships? CONCEIVED IDENTITY Stakeholder Perceptions corporate image reputation how does the company appear to stakeholders? IDEAL IDENTITY Optimum Positioning based on current knowledge of the companys capabilities. DESIRED IDENTITY -Corporate vision from the perspective of the CEO and the Board of Directors. The AC ²ID Test was employed to evaluate and analyse the corporate identities of Republic Bank and Banco Mercantil in consolidating and guiding the process of changing the Banco Mercantil name and the adoption of the overarching brand, Republic Bank. 4.2Structures Influence on Corporate Identity In identifying a link or relationship between organisational structure/hierarchy and corporate identity, the work of Olins, Ind and Kammerer were explored and applied. Olins identified three basic types of visual architecture used by organisations namely, the monol

A Modest Proposal With A New Critical Approach Essay -- Johnathan Swif

A Modest Proposal With A New Critical Approach A Modest Proposal, by Jonathon Swift is very much an ironic persuasive essay. He is proposing the eating of babies as a way to help with poverty. Throughout the essay he makes many thought-out yet almost unthinkable arguments that support his proposal. You do however know he doesn't really want people to start eating babies. He is just trying to show a major problem in a shocking way. His arguments for the eating of babies are as follows: it would greatly reduce the number of poverty stricken people (especially children); it would give those same people income when they sold their children; the nation as a whole will have more money because of this new income; there would be more food for everyone (baby might even become a delicacy); people would save a lot of money by not having to support their children after the first year of birth; and finally, it would help out marriages since there would be less stress on the parents. These theories are stated and supported throughout Swift's essay. He uses the structure of the essay to help you get a good understanding of the material he is presenting. The basic structure of the essay starts out with him explaining the problem he plans to help solve, that Dublin is poverty stricken. There are too many beggars with way too many children. Next, he starts to subtly drop hints about his proposal. He explains that he is going to, "Humbly propose (his) own thoughts," and that he hopes they, "Will not be liable to the least objection."(Abcarian, 629) He continues by further explaining some of his proposal's benefits, then in a list fashion states the six main arguments for it. Swift then adds his last few reasons why people should consider h... ...t before he is about to say something horrible. This is ironic because it is not expected. The speaker has just totally changed his tone. The biggest use of irony is situational irony. The whole proposal is absurd and the speaker knows it. He is proposing the idea to show the larger picture. That there is no solution to this problem, and no one has any useful ideas. The eating of babies is utterly outlandish which is precisely why he chose it. The speaker of this modest proposal uses irony to create a tension that helps to convey a certain message. That message is that even though this may be a totally outrageous proposal, no one can complain or judge until they have a proposal of their own. Works Cited Fish,Tom. "The Literary Criticism." http://www.cumber.edu/litcritweb/# Lynch, Jack. "New Criticism." http://newark.rutgers.edu/~jlynch/Terms/newcrit.html

Pilgrimage for Christians :: Papers

Pilgrimage for Christians This question has a lot or arguments for both sides, which will be discussed here. The Christian Church itself is not entirely sure of whether or not pilgrimage should be practised, and different denominations have different views. Pilgrimage can help Christians a great deal. Pilgrims grow closer to God during pilgrimage and pilgrimages can inspire them to spread the word of God when they return from the trip. If there are having doubts over their faith in God, pilgrimages can make them feel close to God, and they can believe in him without doubt again. It is difficult to find arguments against pilgrimage in terms of what could be done in the time taken up by the trip, because pilgrimages do not take a long time now. A person's life could be dramatically changed by a pilgrimage and it could make them view the world in a completely different way, after only a few days of devotion to God. In defence of pilgrimage, it has happened for a very long time, since the start of the Christian faith, even though there is no reference to it in the Bible. Some branches of the Christian church, particularly the Roman Catholic church, judge matters on the Bible and on church traditions, which would make pilgrimage a good thing for the one reason that it has been going on for so long. There are also many reasons why pilgrimage is not considered a necessary thing for Christians to embark on. Some would argue that Christians' time should be spend helping people, preaching and encouraging other to adopt Christians beliefs. Some Protestants would also say that there is no real evidence of pilgrimage in the Bible, so it is not a Christian idea and should not happen. With the exception perhaps of the Holy Land, sites of pilgrimage are defined sometimes by only one witness who claims to have had a vision or a miracle. These sources cannot always be trusted, which makes some Christians critical of Pilgrimage. Others would argue, however, that