Marketing of financial services Essay Example | Topics and Well Written Essays - 1500 words

Marketing of financial services - Essay Example Reduction in the incidence of interest rate clustering, however, is not very costly. Hence, Ashton and Hudson implied that the more na've customers should take a more active stance in their finances - be more involved as "[t]he degree of price or interest rate clustering appears to be exaggerate when low levels of financial involvement are concerned" (Ashton & Hudson 2008, p. 1402). Citibank offers several savings and investment products, whether local currency denominated or foreign currency denominated, to its clientele. These savings and investments products are offered with range of interest rates. A look at the bank's Web page on its savings and investments products shows that its US Dollar Reward Saver is marketed as giving 2.50 per cent gross per annum rate which is much higher than the account's actual annual equivalent rate or AER of 2.02 per cent. Although both rates were published in the Web page, a na've customer - whose interest or whose lack of "ability to process information" (Ashton & Hudson 2008, p. 1393) is the one being exploited - would immediately zero in on the "earn up to 2.50% gross p.a. fixed for 6 months" (Citibank 2008) and ignore the subsequent "2.02% AER on your US Dollars in the UK2.50 per cent gross" (Citibank 2008). Clearly, in this example, the bank is playing in a very broad context of marketing ethics. Another example is the bank's Reward Saver Issue 2 product which is being offered at a gross per annum interest rate of 6.35 per cent while in reality, the customer will actually be getting an interest rate closer to 5.08 per cent which is the AER. Even the AER is structured in a way to maximise or to exploit the na've's customer's tendency to round up - in here, the na've customer would think that 5.08 per cent is substantially higher than 5 per cent. An example which provides proof to Ashton and Hudson's conclusion on the rounding - "If the number is not already a round number an individual would round a number to the closest reference number" (Ashton & Hudson 2008, p. 1394) - is the bank's net interest rate per annum for its 60 day direct savings account. The bank gives 2.48 per cent for accounts with more than '75,000. A customer with the characteristics described by Ashton and Hudson will immediately round this rate off to 2.5 per cent. The 0.02 per cent difference from the rounding off can be translated to '15 every year for a '75,000 account! Ashton and Hudson observed that for mortgage rates, the interest rate clustering "occurs very frequently just below round numbers giving strong evidence for the common use of na've number processing strategies" (Ashton & Hudson 2008, p. 1401). Unfortunately, for Citibank United Kingdom (and even for HSBC UK) I could not obtain interest rates for their mortgage products, hence I applied the findings of the research to the bank's credit card rates. For its Citi Platinum MasterCard, Citibank charges 5.8 per cent for balance transfers and an APR of 16.9 per cent which are examples of the observation made by Ashton and Hudson - clustering just below round numbers. This can also be observed in the bank's Citi AAdavatage

The development of language Essay Example | Topics and Well Written Essays - 750 words

The development of language - Essay Example Today, millions of people speak one of the twenty-eight Mayan languages as their primary language. Apart from for the Waxtek speakers of Veracruz, Mayan languages occupy a large geographical zone in eastern Mexico, Belize, Guatemala, western Honduras, and western El Salvador (Sharer & Traxler 23). Mayan language family includes 31 languages spoken in Guatemala, Belize and southern Mexico. According to general classification, it has five major branches. It is frequently believed that Huastecan split off in the very beginning, followed by Yucatecan and then all other groups branched out (Campbell 71-72).Most of the Mayan speakers are partially bilingual and their second language is Spanish or English in case of Belize(Sharer & Traxler, 23). Other languages have great influence on all Mayan languages. For instance, there is grammatical evidence for prehistoric connections between the Mayan and the adjoining language family, MixeZoquean. Borrowing words started between these groups in the Pre-classic age and was generally from Mixe-Zoquea to Mayan. For instance, in addition to ajaw (lord) and kakaw (cocoa or chocolate), quite a few basic Mayan kinship and body-part terms came from Mixe-Zoquean. Most of the Mayan languages have few numbers of loanwords from Nahuatal. Nahuatal is the language of native peoples from Central Mexico, particularly post-classic Mexica, or Aztecs. Most probably these loanwords refer to the rising importance of the Central Mexican states in the Post-classic era. The Maya not only borrowed but also influenced other languages. For instance, more or less extinct language of southeastern Guatemala, Xinca does not belong to Mayan language family but it has a large number of loanwords from Mayan. Since European contact, the process of this exchange continued with Spanish and English. A very good example is the word kakaw that has entered English as cocoa just like Mayan word xook as the

Theoretical and Empirical Interest in World Cities Essay

Theoretical and Empirical Interest in World Cities - Essay Example However, the fact remains that the concept of a ‘world city’ is not so simple as this. Often referred to as ‘global city’ or sometimes as ‘alpha city’, a world city happens to be a very significant and important node point in the entire system of global economy. It has been a subject of researchers and empirical studies since long and is one of the most researched areas in the field of urban studies. Geography and urban studies are what the concept of world cities originates from, while globalization is the basis of this concept, considering the fact that the idea of globalization takes into account the hierarchy of the geographic locales in respect of importance to the operation of the global system. It is not that a concept is formed in a day, especially when it concerns as vast an idea as ‘global/world city’. The development of the concept of world cities may not be as old as the global cities themselves. Again, it has also to be kept in mind that the idea of a world city is not just like another of the thousand novel concepts that should better be described as the byproducts of globalization in the modern age. The development of the concept of a world city or a global city has quite a long and rich history. The volume of research works by scholars in all countries in the world and the growing interest in the concept of world city testify to its immense importance in the world of empirical studies. The purpose of this paper is to explore and discuss the factors related to the development of the concept of a world city and also to discuss the contemporary research that provides new insights into the hierarchy of world cities. Before we start exploring the development of the concept of a world city, we have to understand that development of the general ideas about a world city and the development of empirical interests in the concept of world/global cities are not the same.  

Explain Geoffrey Parker's concept of the western way of War How does Essay

Explain Geoffrey Parker's concept of the western way of War How does the Western way of war influence current US action in I - Essay Example From the fifteenth century, the role of the Western military has been to propagate and uplift the cultures of the western nations.   Writers of various genres of military history had a variety of reasons for writing about military life.   Three factors have contributed to the excellence of the western military over those of the neighboring non-European nations and the Americas. First of all, widespread politicization and acceptance of Christianity in the western world contributed to this. Later, the industrial revolution led to innovations in military technology.   Finally, there was imposition of Western cultures into the non-western word through means such as trade and colonialism.  Currently, the imposition occurs through western globalization. Therefore, these three factors have played a role in the western world’s military dominance. This has led to the phenomenon referred to as, Eurocentric Supremacy1. Military historians who describe the phenomenon of Eurocentri c Supremacy explained that many non-Europeans were compelled to convert to Christianity.   The first military officer to convert to Christianity was Constantine. ... It, therefore, led to numerous military attacks and campaigns by the western military. A great number of military attacks resulted from conflicts between the Orthodox Church and Christianity.    The western military took its campaigns outside their jurisdiction. This phenomenon led to widespread colonization of other nations by the west and the norm of slave trade. At this time, the other nations had the difficulty in opposing the western colonies because the western colonies were well equipped due to the dominant industrial revolution and innovation. It is, therefore, clear that the spread and development of Christianity throughout the western nations contributed to the Euro-centrism that was typical of the Western military. The technological advancements and innovations that resulted from the western industrial revolution all led to a supremacy in the western military’s mechanisms of war2.   In his work concerning the advent of technology and modern war, Martin Van Creve ld illustrates the point of technology that was typical of the western way of life. Creveld quips that the modern war is adversely infiltrated by technology. He further adds that technology has now governed war. This he attributes to the western culture which has ensured that the principles of war have been upheld since time immemorial. The western power has experienced invincibility from the past. This is due to the fact that the western word is motivated towards usage of technology in war either at the beginning of the war or at the middle and end of the war. The western world also has unyielding thirst in its quest to discover newer forms of technology that will improve its war and military activities. These are the factors that have all along made the

Management information systems Essay Example | Topics and Well Written Essays - 3500 words

Management information systems - Essay Example Gissaral Electronic business is having main intentions regarding the customer management at (Reponen, 1993): 10 New Technology Scope: Gissaral Electronic business has the future intension of implementing the following key business services and systems. In this scenario there will be following scope for new technology implementation (Reponen, 1993): 11 Management Information system: The term information system can be defined theoretically as â€Å"a set of organized components that collect, process, store, and transfer information to carry decision making and control in an organization†. In addition, the information systems store and maintain information regarding important places, people, and things within the organization or in the set up surrounding it (Laudon & Laudon, 1999, p.7; Hoffer et al., 2007, p.429). However, a management information system is an application or function of information system that provides management oriented reporting. In addition, these reports are typically developed on a predetermined schedule and come out in a prearranged structure (Whitten et al., 2000, p.47). 12 Decision support systems/ DSS: For the Gissaral Electronic, decision support system (DSS) will be the first choice, because it provides the comprehensive information for making a decision, and develop information systems particularly designed to aid and formulate decisions. Furthermore, the decision support systems depend on models and methods to create brief tables or an amount that decides a decision (Oz, 2008). 13 Customer information system: The next main choice regarding the technology solution at Gissaral Electronic will be customer information system. We want to implement this system for the business management, data handling and transaction management. This system will be a business management (business information management) system (Computer Sciences Corporation, 2010;

Sino-Japanese relations Essay Example for Free

Sino-Japanese relations Essay Sino-Japanese relations are destined to have a profound impact on Southeast Asia. After all, as noted by Stephen Leong, For Asia to be secure, Japan and China have to be getting along† Otherwise the security architecture of Asia will change. China, Japan and the US may not enjoy the most comfortable of partnerships, considering each nation’s competitive streak and occasional differences over trade, global governance and security issues. But the partnership works and is improving, with the potential for resolving many regional and global problems, explains Morton Abramowitz, former US ambassador and senior fellow at the Century Foundation. In analyzing major issues confronting the three nations, Abramowitz also offers specific recommendations: Japan and the US should refrain from forming â€Å"values† alliances against China; China should end opposition to a seat on the UN Security Council for Japan; and East Asia should form more consultative forums for planning and integration. Ongoing integration and consultation can only improve the relationship, according to Abramowitz, creating a multilateral policymaking model for the century ahead. China grows rapidly, deriving significant clout and thereby assuming a new world role. Despite a recent leadership transition, Chinese leaders remain preoccupied with mitigating massive distortions of growth, ensuring a successful Olympics and preventing regime change. Its military modernization arouses American. Yet China continues to be out of step with the political morality of leading countries. China has a long way to go in exercising international leadership. Japan is a major world economic player, but wants to be a â€Å"normal† nation without its postwar defense limitations. It remains fearful of China’s competition, even as both economies become more entwined. Japan and China have one major concrete dispute – maritime claims. The US and Japan each value their alliance, influence in Southeast Asia –but the absence of which was clear when most East seat. In recent years, China has increased its assertiveness in pursuing territorial claims in the South China Sea. This development can most likely be traced to Chinas need to find sources of oil since China switched from being an oil-exporting nation to an oil-importing nation a few years ago. While Southeast Asian nations have essentially agreed to disagree by postponing resolution of their territorial disputes, China continues to insist on its rights to drill for oil on these islands. These actions exemplify the need to establish a multilateral resource development regime whose prerequisite for admission could be the resolution of territorial disputes. . 6Devout Muslims, particularly in Indonesia and the Philippines, saw themselves marginalized by secular (Indonesian) or Christian (Filipino) governments. This produced a sense of victimization that meshed with the message from Osama bin Laden and others. Money from the Persian Gulf (particularly Saudi Arabia) has flowed into Southeast Asia, propagating a strict, doctrinaire version of Islam through schools and mosques. Mujahideen were indoctrinated into a militant jihadist returned to Southeast Asia ripe for recruitment into local terrorist organizations dedicated to the destruction of non- Muslim communities, Western influence, and secular governments. There are three types of international terrorist groups- al Qaeda, Jemaah Islamiyah (JI), whose agenda includes attacks on U. S. interests and the establishment of a pan-Islamic caliphate; and traditional Muslim separatists, such as the Moro Islamic Liberation Front (MILF) in the southern Philippines and the Pattani National Liberation Front in southern Thailand, that seek a separate Muslim state. One of the questions affecting the security future of Southeast Asia is whether the predominantly Muslim societies in the region can find a way to neutralize and absorb the militants into a moderate body politic. The picture is greatly complicated by linkages between groups including JI and al Qaeda, between Abu Sayyaf and al Qaeda, and between JI and the MILF. Further complications arise from alleged links between elements of the Indonesian 8 military and Laskar Jihad and another similar group, the Islamic Defenders Front. In short, terrorism in Southeast Asia would depict interactive networks with multiple agendas. The October 2002 bombings in Bali forced Jakarta to acknowledge the reality.

The Great Expectations | The Bildungsroman Novel

The Great Expectations | The Bildungsroman Novel Charles Dickens bildungsroman, Great Expectations (..), cannot help but impress upon the reader an overwhelming sense of guilt which permeates the novel at various levels. As the plot unfolds, the characters develop, however the sense of guilt remains unchanging until the primary character completes his transformation. Intertwined as guilt is as a theme with the other themes of crime and punishment and the fallacy of human error, which for the central character Pip, translates into a form of self-imposed guilt, Dickens narrator recounts the journey of the youthful Pip from a focus on false values to self-awareness and moral fortitude. Evident from the onset of the novel, the character Pip implicitly finds himself involved in the act of criminal complicity as he steals in order to aid the convict, Magwitch, and this initial act creates in the young boy feelings of immense guilt: My state of mind regarding the pilfering from which I had been so unexpectedly exonerated, did not impel me to frank disclosure; But I loved Joe perhaps for no better reason in those early days than because the dear fellow let me love him and, as to him, my inner self was not so easily composed. It was much upon my mind (particularly when I first saw him looking about for his file) that I ought to tell Joe the whole truth. Yet I did not, and for the reason that I mistrusted that if I did, he would think me worse than I was. The fear of losing Joes confidence, and of thenceforth sitting in the chimney-corner at night staring drearily at my for ever lost companion and friend, tied up my tongue. (33; ch. 6) From the onset of the novel therefore, the young Pip becomes embroiled in a world of criminal behavior where his guilt torments him. Instead of dissipating with time, Pips sense of guilt appears to overwhelm his consciousness until it appears to become an integral part of his character. As Dickens develops this theme, he uses a great deal of the novels atmosphere and settings to achieve his objective. As a child the youthful Pips world is bounded by the long black marshes, the black beacon by which the sailors steered and a gibbet with some chains hanging to it, which had once held a pirate (6; ch1). On the water there are the hulks, the prison-ships, and on the shore, there looms the battery with the guns which warn of prisoners escapes. Pips immediate consciousness is, in effect, bound by the literal manifestations of the criminal world. The physical bondage created by Dickens use of this dark, foreboding imagery underscores for Dickens the influence of the prospect of criminality which chronicles the life-path of his principal character. Explicit bondage translates for Pip into an implicit bondage: legally, he is bound in trade to Joe, while emotionally he is bound to Joe by gratitude. As a direct result of his meeting with Estella, and the perpetuation of severa l false values in his mind, he no longer views the honourable blacksmiths profession as an admirable career. Rather, the forge becomes Pips figurative prison, binding him to a lifestyle which now dissatisfies him. His aspirations have changed, thus he feels held captive and this mental dilemma adds to his cerebral turmoil: He feels guilty because he aspires to a different path, and in effect signing his own death warrant, dooming himself to the scaffold as he binds himself in apprenticeship to Joe: Here, in a corner, my indentures were duly signed and attested, and I was bound; Mr. Pumblechook holding me all the while as if we had looked in on our way to the scaffold to have these little preliminaries disposed ofà ¢Ã¢â€š ¬Ã‚ ¦ Finally, I remember that when I got into my little bedroom I was truly wretched, and had a strong conviction on me that I should never like Joes trade. I had liked it once, but once was not now. (85-86; ch 13) In addition to the physical setting with which Dickens surrounds his principal character, many of Dickens other characters in the novel who interact with the principal character, serve the purpose of the thematic perpetuation of guilt and criminality. An interpretation of the text by Foucault, as a Panopticon, suggests that Pips guilt and criminality may be viewed through the actions of Orlick and Bentley Drummle: Orlick strikes Mrs. Joe with the leg iron (which Pip is guilty of providing and thus, to an extent making the crime possible), while Bentley Drummle becomes the tool through which Pip achieves gratification for Estellas treatment of him. Both characters by extension are physical representations of Pips secret desires for revenge upon the people who have wronged him. As they enact these crimes they also foster Pips guilt (Tambling, Bloom, à ¢Ã¢â€š ¬Ã‚ ¦).