Policy and Strategy in Global Competition Essay

Discussion Question 6.1: What are some drawbacks and risks to a broad generic business strategy? To a focused strategy? The two generic business strategies are differentiation and cost-leadership strategies, and they are fundamentally different from one another, both with their own drawbacks and risks (Rothaermel, 2013). These strategies are referred to as â€Å"generic† because they may be used by any type of organization (Rothaermel, 2013). The drawbacks and risks of a differentiation generic strategy is its viability â€Å"is severely undermined when the focus of competition shifts to price rather than value-creating features† (Rothaermel, 2013, p. 155). This tends to occur when there is a level of acceptable quality which has emerged as a standard (Rothaermel, 2013). Organizations pursuing this strategy also need to ensure that they are not adding features which add cost but no â€Å"perceived value in the minds of consumers† (Rothaermel, 2013, p. 155). The d rawbacks and risks of a cost-leadership strategy are that new entrants may erode the low-cost leader’s margins because of the â€Å"loss in market share while it attempts to learn new capabilities† (Rothaermel, 2013, p. 154). Also, the converse of the differentiation strategy issue applies, in that organizations need to ensure that the â€Å"focus of competition shifts from price to non-price attributes† (Rothaermel, 2013, p. 154). The organization needs to also be careful not to allow the value of the product or service to fall below the low-cost at which the product or service is offered (Rothaermel, 2013). A focused strategy applies the same concepts as the generic strategies above, but the focused strategy utilizes a more narrow competitive scope than the generic strategies (Rothaermel, 2013). The competitive scope refers to the market segment at which the product or service being offered is aimed (Rothaermel, 2013). An example would be the broad market of wristwatches to the more focused market of luxury watches  (Rothaermel, 2013). Discussion Question 6.4: Create examples of value chains for three firms: one using cost leadership, another using differentiation, and a third using an integration business-level strategy. A value chain is the process in which â€Å"a firm engages when transforming inputs into outputs† (Rothaermel, 2013, p. 95). It is made up of primary activities, which add value directly, and support activities, which add value indirectly (Rothaermel, 2013). Primary activities include production phases, sales, marketing, and customer service (Rothaermel, 2013). Support activities include research and development, â€Å"information systems, operations management, human resources, finance, accounting, and general management† (Rothaermel, 2013, p. 96). Cost leadership firm: As discussed above, a cost-leadership strategy involves maintaining the lowest price of a particular service or product (Rothaermel, 2013). A prime example of a cost-leadership firm would be Walmart (Rothaermel, 2013 ). Walmart’s value chain would begin with its supply chain, which is made up of suppliers with whom Walmart has negotiated the lowest price possible, at a volume sufficient enough to fill its shelves (Rothaermel, 2013). The next link in the value chain would be Walmart’s distribution and operations. Walmart has been able to reduce packaging and mileage, allowing for significant cost savings (Porter & Kramer, 2011). Walmart’s sheer size creates significant savings through economies of scale (Rothaermel, 2013). Lastly would be marketing, sales, and service, in Walmart’s value chain. Walmart focuses on â€Å"Saving people money so they can live better†, and continues to take innovative steps to do so (Walmart, 2015). The company has even created a mobile app called the â€Å"Savings Catcher† which allows customers to scan their Walmart receipt to capture savings that they would have missed otherwise (Walmart, 2015). This is a marketing effort which impacts sales and services in a major way. Differentiation: Apple is an ideal example of an organization utilizing a differentiation strategy (Rothaermel, 2013). Apple seems to be able to â€Å"create customer needs (even if customers are initially unaware of the need)† (Rothaermel, 2013, p. 155). Apple’s value chain will differ from Walmart, and other cost-leadership strategy firms, in that it will have a greater focus on the development of their products and in its marketing and customer service. It will focus on product development in an effort to ensure their products continue to set the bar in their respective  categories (Rothaermel, 2013). Apple will also focus on marketing and customer service to ensure that new and current customers are aware of the products’ areas of superiority (Rothaermel, 2013). Integration Business-Level: Hewlett Packard (â€Å"HP†) is an example of an organization that is using the integration business-level strategy, which is a combination of the differentiation and cost-leadership strategies (Rothaermel, 2013). HP utilizes this strategy because Apple holds the differentiation position while Dell holds the cost-leader position in the mobile devices market (Rothaermel, 2013). For this reason, HP must seek to implement both the cost-saving strategies in supply chain management, like Walmart, and the differentiation strategies in product design, like Apple (Rothaermel, 2013). There are differences, however, in the value chain between HP and the two companies above. HP has sought to cut costs by trimming its workforce, thereby helping in its cost-leadership strategy (Rothaermel, 2013). In regard to its design efforts, HP has improved â€Å"the differential appeal of its product and service offerings† (Rothaermel, 2013, p. 162). Chapter 7 Discussion Question 7.1: What strategy might the firm use to unseat Windows in this market? Although the small firm has developed a new product, it is a product which will be introduced into an industry which is most likely in the growth or maturity stage of the industry life cycle (Rothaermel, 2013). As such, the small firm’s best strategy would be to employ a cost-leadership strategy (Rothaermel, 2013). This is the best option because both the differentiation and cost-leadership strategy are viable options during the growth stage, but firms that adopt the cost-leadership strategy which dominate during the maturity stage (Rothaermel, 2013). The small firm’s new product is likely considered a process innovation, as it seeks to accomplish the same tasks in a more efficient manner (Rothaermel, 2013). Discussion Question 7.2: How does the industry life cycle affect business strategy? Detail your answer based on each stage: introduction, growth, maturity, and decline. During the introduction stage of the industry life cycle, the companies which tend to be, and stay successful, are innovative and tend to be few  (Rothaermel, 2013). As such, the strategy used during this stage is likely the differentiation strategy, since firms are seeking to establish the uniqueness of their products’ features (Rothaermel, 2013). The growth stage tends to allow organizations to be a little freer to decide which strategy would work best for them (Rothaermel, 2013). It is during this stage that a dominant design, or standard, is established, which means that firms may choose to differentiate their product, or choose to attempt to offer the same type of product at a lesser cost (Rothaermel, 2013). The maturity stage begins to see less design changes and more process innovations within the industry (Rothaermel, 2013). For this reason, it is cost-leaders that tend to succeed during this stage (Rothaermel, 2013). The decline stage differs from those above, as it introduces four strategic options for firms to pursue: (1) exit, (2) harvest, (3) maintain, and (4) consolidate (Rothaermel, 2013). The exit strategy is precisely as it says: it involves the firm choosing to leave the market to pursue other endeavors (Rothaermel, 2013). The harvest strategy means that the firm will still sell the product or service, but will reduce the level of investment in its maintenance and development (Rothaermel, 2013). The maintain strategy is also exactly what it sounds like: the firm continues offering the product or service at the same level as it has been, despite the declining demand (Rothaermel, 2013). The consolidate strategy involves the purchasing of rivals in an effort to shrink the industry, which provides firms employing this strategy to reach near-monopolistic status (Rothaermel, 2013). Discussion Question 7.4: Why are standards important in many industries? As standards get adapted and become dominant, how does this process influence the competitive nature of the industry? Standards are important in many industries because the firm whose product becomes the standard â€Å"tends to capture a larger market share and can persist for a long time† (Rothaermel, 2013, p. 175). Once the standard is adopted, the market tends to focus more on process innovation than on product innovation (Rothaermel, 2013). This means that firms are focusing their R&D efforts â€Å"on process innovation in order to improve efficiency† (Rothaermel, 2013, p. 177). Since the standard tends to be set during the growth stage,  either the differentiation or cost-leadership strategy is used, for the reasons discussed above (Rothaermel, 2013). Chapter 8 Discussion Question 8.1: When Walmart decided to incorporate grocery stores into some locations and created â€Å"super-centers,† was this a business-level strategy of differentiation or a corporate-level strategy of diversification? Why? Explain your answer. Walmart’s incorporation of grocery stores into some locations represents a corporate-level strategy of diversification, as opposed to a business-level strategy of differentiation. While business-level strategy typically involves individual markets, corporate-level strategy encompasses decisions which impact multiple markets and industries simultaneously (Rothaermel, 2013). Diversification occurs when a firm seeks to increase â€Å"the variety of products or markets in which to compete† (Rothaermel, 2013, p. 216). By incorporating grocery stores into some of its locations, Walmart made a corporate-level strategy decision to diversify the products offered in its stores, and the markets within which it chose to operate (Rothaermel, 2013). Chapter 9 Discussion Question 9.1: List some specific advantages of this acquisition for Live Nation. Do you see any downside to the merger?  Some advantages to the acquisition of Ticketmaster by Live Nation include: a reduction in competitive intensity, lower costs, increased differentiation, and access to new markets and distribution channels (Rothaermel, 2013). While these are some possible advantages for Live Nation, mergers and acquisitions do not result in a competitive advantage the majority of the time (Rothaermel, 2013). Shareholder value is usually destroyed after a merger and acquisition, and it is only the shareholders of the acquired company that tend to benefit (Rothaermel, 2013). Chapter 10 Discussion Question 10.1: How might your relationship change as the MNE moves from Globalization 2.0 to Globalization 3.0 operations?  Globalization is the process of increasing â€Å"integration and exchange between different countries and peoples worldwide† (Rothaermel, 2013, p. 271). Globalization 2.0 refers to growing business globally from 1945 to 2000 (Rothaermel, 2013). It involved large foreign direct investment, with the  state-side corporate headquarters directing strategic goals and resource allocation (Rothaermel, 2013). Globalization 3.0 covers the time period from 2000 to the present (Rothaermel, 2013). Tremendous strides in technology allow for less need of foreign direct investment, and this stage has allowed the MNE to reorganize as a â€Å"global enterprise with centers of expertise† (Rothaermel, 2013, p. 273). As a small firm supplying a product or service to an MNE, the degree of change which would arise in our relationship, as the firm moved from Globalization 2.0 to Globalization 3.0 operations, would depend heavily on the location and type of services or product provided. The MNE would likely become more dependent on technology for telecommuting and would seek to operate twenty-four hours a day, year round (Rothaermel, 2013). As such, if our service or product was related to the technologies being implemented by the MNE, then the firm would become a larger player in the MNE’s operations. However, if the MNE was able to tap into its own knowledge-base to provide the services or product our small firm provides, then we would no longer be needed by the global giant. References Rothaermel, F. T. (2013). Strategic Management. New York: McGraw-Hill/Irwin. Walmart. Our story. Retrieved on January 25, 2015, from http://corporate.walmart.com/our-story/

Microsoft Bank Branch of the Future

A Microsoft Banking and Capital Markets White Paper The bank branch of the future 2 The bank branch of the future ContentsRedefining the role of branches 4 > Case study: Nascent Digital — understanding customer needs 8 > Article: The Fiserv perspective — information convergence, interaction specialization and the importance of integrated channels 10 Recognition — selling to a market of one 12 > Case study: CRM at Wintrust Financial and Fiserv 14 > Case study: Customer-centric at the core — First Citizens National Bank and Harland Financial Solutions 15 Engagement — creating memorable touch points 16 > Case study: Digital signage at Reflect Systems and Best Buy 18 > Customer use scenarios: Microsoft Surface at Barclays Bank and Royal Bank of Canada 21 > Case study: Streamlining communications at Fidelity 22 Origination — developing new business opportunities 23 > Case study: Predictive analytics at U. S.Bancorp with Portrait Software 25 > Prof ile: Secure paperless banking with digital signature from Topaz and AssureSign 26 > Case study: Incentives at Bank of the West and Varicent 27 Service — taking customers to the next level 28 > Case study: Next-generation self-service at BBVA with NCR 30 > Case study: Espirito Santo creates a better banking experience with CRM and a 360 degree, integrated view of the customer 31 Innovation — developing new products and services with customers 32 > Case study: Social computing at NewsGator and CME Federal Credit Union 34 Bringing it all together — technologies of channel integration 35 > Article: Creating a consistent customer experience through channel synchronization 36 Having a vision for the future 39 > Profile: Helping customers succeed with ARGO 40 Realizing the branch of the future 41 Microsoft partners appearing in this paper 42 Microsoft in Financial Services Financial services is a major industry for Microsoft ® Corporation. Our commitment to the indus try comprises client-dedicated accounts teams, and technology and industry specialists. Our solution areas embrace almost every facet of the industry, including client experience, governance, risk and compliance, payments, and operating capabilities. The U. S.Financial Services industry group led by Ben Narey is responsible for developing financial services solutions combining Microsoft capabilities with those of our partners, for our U. S. -based banking clients. This is one in a series of thought leadership papers designed to share insight into leading industry issues and help our clients realize their vision of the future. www. microsoft. com/financialservices The bank branch of the future 3 A message to our customers and partners After a significant period of expansion, banks are finding current market conditions tough to say the least. Putting customers first is the right response, and the branch is the place to do that. But the role of branches is changing dramatically. Transa ctions are moving to the Internet, so customers may have fewer reasons to visit branches.In addition, new technologies, such as social networking and personal financial management (PFM) tools, are transforming the relationship with customers, forcing banks to develop new ways to create the right customer experience while empowering customers and giving them more control. If branch visits are less frequent, they must become more valuable and more interesting. The days of existing and potential customers walking into branches and not being recognized or effectively engaged are over. A new era of personalized financial services is forcing banks to sell to a market of one. This means understanding customer needs and addressing them appropriately. This also means moving from a reactive sales model to a proactive one, where customer needs can be anticipated in advance.Thanks to changes in technology, customer expectations of the experience they should receive when they visit the branch ar e rising all the time. But just filling branches with new technology isn’t the answer. There needs to be a plan in place and one developed with customers in mind. The customer should be at the center of the branch operation. The branch of the future is an engaging, interactive and fun environment. It should also be a lower cost one. There is opportunity for a dramatic improvement in branch performance. This means streamlining processes, eliminating paper, and improving front and back-office integration. Branch staff are being asked to play a different role. Branch personnel need constant training to do this.The technology of the branch of the future exists to empower tellers, financial advisors and service representatives to serve customers more effectively, moving from a reactive to a proactive engagement model. Microsoft Corporation has a strong commitment to the branch of the future. Directly and through our partners, we work with financial institutions around the world to develop their own path to improved performance. Many of those solutions are outlined in this white paper. We hope you find this a useful contribution to your future plans and the longer term direction of our industry. Yours truly, Ben Narey Director, U. S. Financial Services Colleen Healy General Manager, U. S. Financial Services 4 The bank branch of the future Redefining the role of branches T A dizzying period of change echnology is changing at a blurring rate.It is at once more social, connected, mobile and continuous. We are seeing game-changing advances in many areas from user interfaces to Internet TV. It’s not just transactions that are moving to the Internet but conversations and relationships as well. In this new world, banks are engaging with customers in very different ways. For some banks, branches are emerging as the new, technology-enabled centerpiece in the relationship with customers — a place where channels and technology converge to create a new era of personalized banking in the branch of the future. Banks face other challenges. Revenues are stalling, margins are under pressure and costs remain high. For many, technology remains fragmented.As banks invest more in customer technologies, they must also reduce costs and improve margins, achieve more with less, and at the same time comply with new regulation. In this constantly shifting story, there are many moving parts, and they must all come together to wow customers without confusing them. The branch of the future is an exercise in innovation that must be competitive, game-changing and ultimately profitable. It must be part of a broader strategic focus that considers all channels, not just the branch itself. It will involve not just a vision, but an ecosystem of partners that can deliver it. Microsoft ® expands its reach by working closely with partners to deliver many of our capabilities, and many of them are included here.In this paper, we lay out a process that a bank cou ld follow in developing its branch of the future story. As steps in that story we include case studies and solutions that we believe are leading edge. We realize that every bank’s journey will be different because each bank will need to develop its own unique approach to the branch of the future. Branches are emerging as a place where channels and technology converge to create a new era of personalized banking. The new alternative channel? Many banks consider the branch to be their primary customer relationship channel. But do customers feel the same way? Today roughly 90 percent of daily transactions take place electronically.Checks may be phased out in most developed economies in the next few years. Branch traffic is on the decline. Are branches the new alternative channel? Does that mean branches are finished? Not necessarily. Bank customers still seem to have a strong affinity to branches even though they may visit them less. But it does mean the role of the branch must c hange and be less dependent on transactions. What should this new role be? To answer that question we must have a better understanding of what customers really want. The bank branch of the future 5 And that boils down to at least three things. Firstly, they want more control over their finances.One of the consequences of the financial crisis is a feeling of greater insecurity and a decline in trust in financial institutions. Thanks to the growth in technology and the disclosures surrounding the financial crisis, bank customers often know more about their banks than banks do about their customers. Secondly, consumers want more choices and are less willing to put all their financial eggs in one basket. They are more willing to change banking relationships and are less loyal to their existing providers. Thirdly, they want a better experience. Banks often measure their performance with customers based on service satisfaction, but service is only part of the equation.The ability to acces s banking services at any time from any location, transparency in fees and simpler contracts, and access to quality, impartial advice all sum up to a new value exchange between banks and customers that may define the next phase of banking. Technology is playing a huge part in transforming the banking experience. Smartphones and slates (tablets) are giving consumers greater mobility. Cloud computing gives all of us easier access to more computing power. Game-changing developments in the technology of communications and natural user interfaces enable new ways for banks and their customers to engage with each other. So what is the transformation in the role of the branch that needs to take place? Snacks, lunches and fine dining experiences Perhaps the experience of other industries might provide us with some clues.Financial services provider Fiserv has equated interaction through banking channels to â€Å"snacking,† â€Å"lunching† and â€Å"fine dining† (see artic le on page 10). As our lives become busier, long, lingering meals become more rare. Snacking has become a way of life, often at our desks rather than at restaurants. So restaurants must work harder for our business. But there are many restaurants to choose from. How do they compete for our attention? Every good restaurant needs its own brand. Often fine food is not enough. It may need a theme or an image. It might be the country of the cuisine. It might be a constantly changing menu. It might be the ability to have snacks, lunch and fine dining in the same location.From the services, to the cutlery and the plates to the interior to the food itself, all these elements may combine to create a unique customer experience. In the case of banking, customers have a choice of channels and therefore experiences. But if most of the channels are mainly about transactions or â€Å"snacking,† then they are likely to prefer fast food to fine dining. For the branch to be attractive, it has to have something else on the menu. Game-changing developments in the technology of communications enable new ways for banks and their customers to engage with each other. 6 The bank branch of the future The branch — where all channels can convergeToday bank channels are like those in the first diagram in Figure 1: independent channels that are mainly about â€Å"snacking. † In this model, it is easy to see how the branch becomes less important as â€Å"snacking† channels grow. But some customers may prefer to research online and get advice in the branch. Their financial journey may involve a combination of visits to different channels at different times, perhaps even for the same service — beginning a journey in one channel and completing it in another. In this way, channels reinforce each other rather than compete with each other for customers’ attention. The new model of bank channels is more like the second diagram in Figure 1. Channels are no longer siloed but mutually reinforcing.Instead of playing a diminishing role, the branch can begin to play a more influential one. But the branch is the one channel where all channels can converge. Like the airline or the restaurant that offers a choice of customer experiences, snacking, lunching and fine dining can all take place in the same location. As a result the branch becomes an easier place to conduct all our banking business rather than the least attractive of all. FIGURE 1 Transforming the role of branches BANKING TODAY BANKING TOMORROW MOBILE MOBILE BROWSER CHANNEL USAGE CHANNEL USAGE BROWSER CALL CENTER CALL CENTER BRANCH BRANCH INDEPENDENT CHANNELS WITH FRAGMENTED IMPACTINTEGRATED CHANNELS AND GROWING INFLUENCE The bank branch of the future 7 Dimensions of branch transformation Microsoft ® believes there are at least five dimensions of branch transformation that can lead to a significant increase in customer experience and financial performance. > Branch design â€⠀ balancing networking with privacy, access and convenience > Talent — more focus on advice and expertise and less on transactions > Channels — integrated and mutually supportive > Innovation — customer driven, building on experiences and solutions > Brand — unique and customer driven In each of these dimensions, technology has a major role to play.But the real challenge is to empower each dimension so that they operate together to enhance the customer experience, improve revenues and reduce costs. A fragmented approach will simply increase costs, confuse customers and reduce financial performance. Effective branch transformation demands an enterprise-wide blueprint. A project to build nextgeneration ATMs needs to take into consideration the opportunity to empower and integrate other channels. A project to introduce digital signage should consider not only the customer experience, but the ability to improve staff performance as well. The introduction of digital signatures and automated account opening should consider the implications for document management and records keeping.We are not just transforming branches but creating a completely new retail banking business and operating model to deliver a higher standard of customer experience. A continuous process of performance improvement Branch activities should involve a continuous process of performance improvement based on an in-depth understanding of customer needs with the goal of deepening customer relationships. > Recognition — selling to a market of one > Engagement — creating memorable touch points > Origination — developing new business opportunities INNOVATION FIGURE 2 A continuous process of performance improvement RECOGNITION ENGAGEMENT CUSTOMER RELATIONSHIP MANAGEMENT gt; Service — taking customers to the next level > Innovation — developing new products and services with customers Ideally, almost all these activities should be capable of taking place at any part of the branch, whether at an ATM, in a teller line, at a teller booth, or in discussions with a service advisor or a banker. But if executed effectively, one step will lead to another, creating a positive loop of continued performance improvement. (See Figure 2. ) SERVICE ORIGINATION 8 The bank branch of the future CASE STUDY Nascent Digital — understanding customer needs It’s easy to spend money on technology. But it is more important to understand what customers really want from their branch before embarking on an ambitious program of investment.The whole point of investing in branches is to improve the relationship with customers. So why not begin by understanding what customers really want? Nascent Digital (www. nascentdigital. com) is one of the market leaders in the field of combining market research with the design and development of technology. As a result, Nascent is able to create rich and relevant connections with customers from business applications to educational and entertaining experiences. Having previously deployed experiences on multiple mobile and touchscreen platforms such as iOS, Nascent has eased into working with the cutting-edge Windows Phone 7 and Slate devices.Nascent Labs’ mobile platform enables it to quickly develop game-changing Windows Phone and Slate applications connected to Facebook, Twitter and other social networks. It has also played a major role in the development of Microsoft Surface technology. Bank customers seek digital experiences that are unique and engaging. To that end, Nascent’s unique design-led approach employs research, in-depth experience design and early rapid prototyping. These methods enable insights into how to realize the best possible digital customer experience. Nascent has partnered with Microsoft ® to envision the possibilities for Slate computing in the branch of the future. The design process and resulting prototype yielded insights into mul tiple new possibilities for customer interaction, relationship building, and ustomer-associate collaboration on everything from day-to-day banking to financial planning and advisory. Building on Windows Phone 7 Metro design language, Nascent was able to create a single digital interface that unifies the customer mobile experience with a collaborative sales experience in the branch. By understanding customer needs upfront, banks can ensure their technology investments truly provide customers with the experience they desire. The bank branch of the future 9 Nascent begins by compiling and distilling existing research to form a basis for further inquiry. Industry best practices, existing published research and open access data are evaluated to focus their primary research.Focus groups and discussions led by expert coordinators are directed to reveal a deeper insight into the ideal digital experience for the user base. Once the research phase is complete, the experience design process be gins to output a series of visual representations that can be easily transformed into a rapid prototype. Early prototyping enables innovation by bringing vivid experiences to life quickly for early user testing. (See Figure 3. ) By understanding customer needs upfront, banks can ensure their technology investments truly provide customers with the experience they desire, and thus are successful in empowering their branches with new technology.By reconciling customer needs with the bank’s own strategic direction the bank is more likely to develop a business model that works. It may take more time to get it right first time, but in the long run it is a quicker and much more effective path to innovation. FIGURE 3 The Microsoft Nascent discovery process UNDERSTANDING THE CUSTOMER CONCEPT DESIGN VISUAL DESIGN CONCEPT TESTING > Secondary market research > Primary market research > Industry best practices > Brainstorming > Wireframes > Context design > Information architecture > Appl ied cognition > Concepts > Brand expectations > Game-changing experiences > Matched audiences > Usability testing > Final design blueprint 10The bank branch of the future ARTICLE The Fiserv perspective — information convergence, interaction specialization and the importance of integrated channels The way financial institutions deliver services across banking channels is being profoundly impacted by two significant shifts. First, there is a demand for â€Å"information convergence† across channels. Consumers expect information about transactions completed via one channel to be readily accessible via another, and expect to be able to initiate a transaction in one channel and complete it in another. Second, there is a significant degree of â€Å"interaction specialization† taking place within each channel.This interaction specialization is driven by the unique properties of each channel, which determine the primary activities conducted through the channel. Consumer s have different habits and preferences about which channels they use to accomplish different financial tasks. For day-to-day needs, consumers generally prefer self-service via digital channels — mobile and online – respectively, the fastest growing channels. Fiserv characterizes interaction via the mobile channel as â€Å"snacking. † From a financial services perspective snacking encompasses frequent interactions that take less than 60 seconds. This includes tasks such as checking balances, receiving alerts and paying bills.One Fiserv financial institution client sees an average of 26 logins to mobile banking per user, per month — proof of their desire to consume financial services information in quick, frequent servings via the mobile channel. The bank branch of the future 11 The snacking analogy can be extended to the online channel and to the branch as well. The online channel serves up the financial equivalent of a square meal. Consumers go online wh en more browsing and a slightly deeper level of engagement is required. This includes tasks such as comparing products, managing budgets and setting up preferences. These types of activities usually occur on a weekly or monthly basis.The branch is for fine dining, those special occasions where more personal service and in-depth interaction is required. This includes advisory services and overall relationship management, encompassing critical decisions that require consultation and typically occur infrequently. As a leading global provider of digital channel solutions for financial institutions, Fiserv perceives that the shifts toward information convergence and interaction specialization will create challenges for financial institutions. Delivering consistent information across channels will require back-end integration and real-time functionalities that are often not in place today.This will be further compounded by device proliferation, the rise of tablet computing and the blurrin g of lines between social media as an interaction platform and a transaction platform. In addition, interaction specialization will require that financial institutions tailor services for specific channels. This will most impact services delivered via the mobile device, as financial institutions will be expected to support â€Å"mobileonly† services such as remote deposit capture for checks, location-based offers and contactless payments via near-field communications (NFC) technologies. Beyond self-service, the mobile device is also likely to become a banking platform for different types of interactions.In this context, financial institutions are under attack from nontraditional players — such as mobile operators and consumer brands like Apple — that would like to gain access to both customer information and transaction revenue. Financial institutions have much to consider when it comes to effectively serving consumers. An integrated channel strategy that incorp orates the unique attributes of mobile solutions as part of an overall approach is a winning strategy. Consumers expect information about transactions completed via one channel to be readily accessible via another, and to initiate a transaction in one channel and complete it in another. 12 The bank branch of the future Recognition — selling to a market of one T 84404893YHQAM235-4747343 ougher markets demand deeper, more profitable customer relationships.The need for banks to treat each customer as unique is more important. New technologies such as digital marketing and predictive analytics are making it easier to sell to a market of one. Personal recognition When customers come into the branch it helps to recognize who they are and make that information available to key members of the branch. An RFID tag can be part of that process. Embedded in a debit or credit card, it can identify customers as soon as they enter a branch. Through access to a customer relationship managemen t system (CRM), bank staff can have complete access to relationship details to understand the next step in the customer story.But potential customers also visit branches, sometimes just by chance. These are opportunities that need to be captured. Applications that allow branch staff to identify customers from personal IDs such as driver’s licenses or Green Cards, identify their credit history and then immediately direct them to a service opportunity, can replace paper-based processes that could take days, weeks or even months to complete, if at all. But technology is changing the concept of â€Å"branch† from a physical to a virtual concept. Valerie King Through access to a CRM system, bank staff can have complete access to relationship details to understand the next step in the customer story. Digital marketingDigital marketing is not just a technology, it is also a channel. In fact, it is many channels and embraces every aspect of digital media including TV, the Inte rnet, mobile phones and social media, and even older technologies such as radio. Whenever we click on a Web site, we create digital breadcrumbs that leave behind clues about our interests and preferences. They provide important intelligence about our real needs that marketing departments can respond to. Recognizing a customer through his or her digital identity gives a bank the opportunity for new customer touch points, more targeted campaigns and services more closely aligned to customer needs.Thanks to this approach one financial institution in the U. K. generates more revenue through inbound marketing than through any other channel. Social networking Social media generates conversations about brands and customer experiences that banks can follow. Airline companies in particular have been successful in using social networks as a customer service tool, allowing them to respond proactively to individual issues and concerns. The bank branch of the future 13 Some social networking sit es — Foursquare, Gowalla, Loopt and Facebook Places — allow members to share their locations with other members. This can provide promotional opportunities for businesses.For example, each time someone checks in to a Hard Rock Cafe in the United States using Facebook Places, Hard Rock International donates a dollar to WhyHunger, a charity fighting global poverty and hunger. The offer lasted through December 2010 — an innovative way of gaining customers and promoting Hard Rock’s commitment to philanthropy. Social networking is not just about customers. It’s about staff as well. Enterprise social networking is a vital collaboration tool that enables bank talent to share knowledge and expertise across the bank. By its very nature, a branch is a decentralized part of the bank, but for many customers it is their most important interface with the bank.Keeping branch staff up-to-date with the latest products, services and regulations and making them feel an essential part of a much bigger organization is essential for their morale and their ability to serve customers effectively. Social CRM To be successful, branches must be part of communities — and communities can be both physical and virtual. Branches have been successful at integrating into physical communities, but less successful in penetrating virtual ones. Microsoft’s CRM system comes with a social networking accelerator that allows branch offers to follow the customer chatter about service needs, reactions to products and feelings about the bank generally. Having a panoramic view of customers clearly creates a competitive advantage.Microsoft Dynamics CRM, together with Microsoft partner Customer Effective, creates an advanced CRM solution leveraging Customer Effective’s expertise in implementation and data integration. Why do so many CRM systems fail to meet expectations? Because they are often stand-alone implementations and are not an integrated part of a complete customer relationship management solution linking customers, services, channels and systems to create a higher level of customer experience. To be successful, branches must be part of communities — and communities can be both physical and virtual. 14 The bank branch of the future CASE STUDY CRM at Wintrust Financial and FiservWintrust Financial, a Chicago-based financial holding company with more than $14 billion in assets, is implementing EnActâ„ ¢, its relationship sales management solution for financial institutions. EnAct is built on Microsoft Dynamics CRM, so it is delivered as an extension of Outlook and integrates seamlessly with Microsoft Office applications, making it intuitive and easy to use. Using the EnAct solution from Fiserv, Wintrust Financial’s bankers will now have a holistic view of client relationships with access to sales productivity tools to execute local outreach programs, track relationship management and prospecting activities , and monitor opportunity pipelines.EnAct leverages Microsoft Dynamics CRM and is designed to serve the distinct needs of banks’ primary lines of business — Retail, Commercial and Wealth — enabling Wintrust Financial to deploy a single, banking-ready CRM solution enterprise-wide. In implementing EnAct, Wintrust aims to better support collaboration across its organization, enabling referrals between divisions and facilitating team-based management of high-value relationships that span multiple business lines. â€Å"We empower our community banks to manage their clients and their markets locally, but we also want to leverage our combined scale and use the most advanced tools to serve our customers and grow our business,† said Tom Ormseth, senior vice president, Wintrust Financial. As part of our expansion program, we identified the need for an enterprise customer relationship management solution and we chose EnAct because it provides us with specialized ban king functionality on a versatile technology platform. We felt Fiserv was the right partner for us because they understood our business and had the experience and know-how to help us succeed. † Wintrust Financial recognized that lack of user adoption is a common pitfall of CRM projects, so deep integration with Outlook was considered an important benefit of EnAct. Outlook is integral to bankers’ workday at Wintrust; it’s where they manage their time, contacts, tasks and email communication with clients and colleagues.EnAct is built on Microsoft Dynamics CRM, so it is delivered as an extension of Outlook and integrates seamlessly with Microsoft Office applications, making it intuitive and easy to use and encouraging end-user adoption. â€Å"By expanding its relationship with Fiserv, Wintrust joins a growing family of banks that are using EnAct to help execute their growth strategies,† said David Dervish, managing principal, Customer Value Enhancement, Fiser v. Wintrust Financial began its initial rollout of EnAct to a pilot group of more than 200 commercial bankers in December 2010 and is continuing implementation to a total of 1,400 users across 15 community banks as well as its various wealth management and specialized financial services divisions.To complement EnAct, Wintrust Financial also licensed Aperioâ„ ¢ Campaign Management and Aperio Customer Analytics. These solutions will help Wintrust analyze customer needs, identify opportunities and better manage centralized marketing campaigns that support local business development initiatives. The bank branch of the future 15 CASE STUDY Customer-centric at the core — First Citizens National Bank and Harland Financial Solutions After 15 years of fighting for market share in its Mason City, Iowa, home market, First Citizens National Bank (FCNB) was at a crossroads. â€Å"We grew by mining market share from the larger players,† explains Gregg Maakestad, FCNB’s SVP and CIO. To maintain our head-to-head competitive status we needed to challenge and exceed their capabilities. † But by 2009 FCNB’s item processing and marketing customer information file (MCIF) solutions had become inadequate. Rather than install point-solutions, FCNB, a subsidiary of First Citizens Financial Corp. ($1. 1 billion in total assets), determined that a core systems modernization would provide capabilities beyond just meeting current needs, Maakestad relates. A long-time user of the Phoenix System from Lake Mary, Fla. -based Harland Financial Solutions, FCNB nonetheless conducted due diligence in early 2009. â€Å"With every contract cycle we look at all options,† notes Maakestad. Because Harland is an open-systems vendor that shares all its database tables, we learned the strategic value of leveraging database tables,† he adds. â€Å"Therefore, we evaluate vendors’ willingness to share tables as a significant selection criterion. â₠¬  In fact, using the tables has become a critical best practice at FCNB. â€Å"We use the tables to supplement vendor-supplied reporting and modeling,† Maakestad explains. â€Å"For example, when Reg E [governing electronic fund transfers] was updated, †¦ we calculated the impact on our organization’s revenue immediately. And we’re doing the same now for the Durbin Amendment [regarding debit card fees]. † According to Maakestad, Harland’s latest platform, the Microsoft .NET-enabled PhoenixEFE Core, was the best solution for FCNB, leading to a late-2009 migration. â€Å"Beyond our existing hardware, PhoenixEFE only required setting up two production [IBM] XM servers and two for disaster recovery,† Maakestad reports. â€Å"There were no showstoppers in the new core system — just some minor items [that Harland is improving]. † During 2010 FCNB added Harland’s ActiveView Item Processing solution and the vendor’ s business intelligence tool, Touche Analyzer. And early this year the bank also integrated Touche Messenger, which draws intelligence from Analyzer for targeted multichannel marketing communications. The results have been impressive. PhoenixEFE has been key to achieving our current efficiency ratio of 47. 5 percent,† says Maakestad. †In addition, our item processing is simpler and our read rates have improved 15 percent. Also, the Touche solutions will be vital to moving our services per household from the current 3. 493 to our 2011 goal of 3. 516. † The new platform also enabled FCNB to replace multiple daily ATM and debit card batch processes with near-real-time transactions. And, over the next couple of years, the modern core will allow the bank to add more online and mobile products to its existing offerings. â€Å"As new opportunities mature, we’ll jump into them with both feet,† Maakestad says. In short, our new core platform has made us more c ustomer-centric and more efficient, positioning us for future growth. † CUSTOMER 16 The bank branch of the future Engagement — creating memorable touch points C Microsoft Surface offers an eyecatching way of bringing people together to connect, learn and decide. It changes the way people collaborate. apturing customers’ attention inside or outside the branch is easier with memorable touch points. Distinctive interactive walls, compelling messaging and outstanding presentations all contribute to a better customer experience. Cool toys, personalized advice and cross-channel integration are all essential tools for capturing the customer’s attention.But they all have to work together and be targeted at customers who are likely to respond to them. Surface technology Exploring financial options with an advisor or with your partner? Or just browsing? Microsoft Surface offers an eye-catching way of shopping for services, bringing people together to connect, learn and decide. It changes the way people collaborate and connect. Microsoft Surface sees and responds to touch — supporting more than 50 simultaneous inputs. This experience comes to life in the new 40-inch Surface that can be used as a table, on the wall, or embedded in other fixtures or furniture. What-if scenarios are a lot more fun when you are working with Surface. But Surface can be more than just an eye-catcher.It can be a complete distribution channel in its own right, allowing customers another opportunity for self-service banking — snacking in the branch or browsing the menu while waiting for a table for some private dining advice. Interactive walls While customers wait in teller lines, wait for a financial advisor or just wander through branches, interactive walls can provide engaging interactions and compelling messaging for the financial shopper. Browsing for a car loan or a mortgage? Explore your options on an interactive wall. By touching it you can get the latest rates, explore financing options and do your homework before making a financial decision.Digital signage Wondering what the markets are doing? Curious about news and events in the community? Intrigued by a message from the chairman? Digital signage is a term used to describe the display of up-to-the-minute information on electronic devices such as plasma screens, LCD panels and projectors. Suppose it’s raining outside and there are more customers inside the branch and you want to change your electronic messaging to talk about new products and services. Managing the metadata in your digital signage system gives you that flexibility. The bank branch of the future 17 What if branches are serving Spanish-speaking customers in one location and English-speaking in another?Digital signage tools provide the flexibility to communicate different messaging to different markets. Digital signage can be used wherever there is a need to communicate to individuals or large groups of people. Wherever there is static signage, there is potential to replace it with digital signage. (See Figure 4. ) Founded in 1991, Omnivex originally supplied software to financial trading floors to post buy/sell positions on large LED wallboards and drive financial tickers. Trading floors were quick to adopt large plasma displays to monitor television news reports. Omnivex recognized that these displays could also be used to help traders clearly spot market trends and developed applications to display data graphically.Building on its foundation of a data-driven system, the company moved into the broader digital signage market, where its software could be used to display real-time information to facilitate decision-making by delivering targeted content to specific audiences. Financial institutions quickly adopted this medium within the retail banking industry, and we now see digital signage installations appearing more and more frequently in bank branches to communicate with custome rs and employees. Due to its data-driven approach, Omnivex digital signage software can deliver the right message to the right audience at the right time, helping to increase the effectiveness of communications. In branches, new products and services, promotional campaigns, market data, corporate communications and training materials can be delivered instantly, easily and memorably.In addition, digital signage can improve the customer experience by reducing perceived wait times, while entertaining and informing customers. Today, Omnivex software is used by many financial institutions around the world to power their digital signage networks. FIGURE 4 Microsoft partner Omnivex and digital signage 18 The bank branch of the future CASE STUDY Digital signage at Reflect Systems and Best Buy Banks have often been influenced by the success of retailers. Microsoft partner Reflect Systems is a leading, national full-service provider of in-store digital media solutions including digital signag e, interactive applications and assisted shopping features, mobile messaging, and in-store music.Reflect worked with Best Buy and its partners to deploy a solution that fit its vision for enabling networked digital media in all its stores, while adhering to business policies and preferred technology standards. Best Buy needed to improve the shopper experience with relevant and timely media content, showcase products and services with brand partners, and capture revenue opportunities available by leveraging the platform as a new digital media network that connects with loyal Best Buy shoppers. After methodical lab testing and pilot programs, Reflect employed ReflectView, its industry-proven scalable software solution, to meet the challenge of managing and distributing large amounts of digital media across Best Buy’s complex network of more than 1,100 locations across the United States.Through its flexible content management, programming, distribution and monitoring features, R eflectView allowed Best Buy to control the specific message played in each store — at any given time, in any specific region — from a centralized system requiring minimal operational management. Today, Best Buy has increased its in-store digital media footprint to include television and computer displays in the electronics department, checkout aisles and music via in-store audio systems. Best Buy has a fast-paced business environment that requires a dynamic approach to supporting new in-store initiatives. Reflect continuously strives to provide a platform approach for in-store media, and maintains a partner-focused solution set that provides choice, performance and measured results.Through its flexible content management, programming, distribution and monitoring features, ReflectView allowed Best Buy to control the specific message played in each store from a centralized system requiring minimal operational management. The bank branch of the future 19 FIGURE 5 Financia l benchmarking with Bundle Next-generation banking Next-generation ATMs, line busting, interactive walls and smartphone channels all converge together in a unique customer experience that targets customers from Gen Y to baby boomers. A common user interface is key to a compelling customer experience that recognizes the branch as a focal point in building enduring customer relationships. The technology of Kinect can provide in-branch entertainment as well as more engaging customer interactions replacing transactions with conversations.Personal financial management tools Technology has made it easier for customers to do research and resolve issues online. Branches are a perfect place for that research to take place. If the customer is already in a branch and wants to do some research or use automated tools to perform financial calculations, budgeting and planning, resources should be available for independent and banker-assisted research and planning. Options to consider include the f ollowing: > A dedicated bank of PCs for independent research > Interactive walls to explore financial options > Surface technology to explore different products and solutions Bundle is an example of a personal financial management tool eveloped by Citi, Morningstar and Microsoft, which allows consumers to compare how others spend their money. (See Figure 5. ) FIGURE 6 At Banco do Brasil, a customer explores financial options through an interactive wall. 20 The bank branch of the future Private, face-to-face advice Have tablets replaced desktops or have they just empowered them? By deploying both, branches have more options for face-to-face advice. It can vary from line busting to a confidential meeting with a private banking client. Technology may be needed to support those discussions, accept deposits, sign documents or review financial plans. Tablet technology can play an important role, and there are many providers to choose from.Companies like Motion Computing, HP and ExoPC offe r slate models in addition to the iPad. Motion Computing, in particular, specializes in manufacturing tablets designed for the needs of individual industries. (See Figure 7. ) FIGURE 7 Customized industry devices from Motion Computing Windows slates combine the ability to consume information and present it to clients with the full production capabilities of a PC. They are also secure and interoperable with other technologies. Incorporating your tablet solution into a complete branch experience demands the ability to interact with other devices, applications and systems. Bankers and financial advisors don’t just meet clients in the bank. They may also visit them in the home.The concept of a mobile sales force attached to the branch is not a new one. But for such a team to be effective it will need to be empowered by technology. Mobile technology can be used for customer presentations, the review of different products and services and the completion of documentation. (See Figur e 8. ) FIGURE 8 A selection of Windows slates (in order of appearance, the Asus E121, Motion’s CL900, the HP 500, the ExoPC and the Fujitsu-STYLISTIC Q550 Slate PC) The bank branch of the future 21 Customer use scenarios: Microsoft Surface at Barclays Bank and Royal Bank of Canada Barclays has opened a new flagship branch at Piccadilly Circus in London.The bank describes the project as â€Å"the first ‘brand concept’ branch in the UK,† covering 8,000 square feet of retail space over three floors. With the opening of the branch, Barclays became the first bank in Europe to pilot Microsoft Surface. Infusion was engaged to create a Surface program that allows users to â€Å"grab† digital content with their hands and navigate information about Barclays’ Premier banking offering with simple gestures and touches. Royal Bank of Canada has partnered with Microsoft to provide customers with an interactive banking experience through Surface. The impleme ntation of Surface creates a fun and interactive way for RBC to inform its customers about their financial services.RBC found that giving customers a way to learn about their financial goals through interactive applications, such as Infusion’s application for Surface, is a great way to ease customers into initiating conversations about complicated financial topics. Client communications When was the last time any of us wrote or received a letter? The way we communicate is undergoing profound transformation. Whether we communicate through laptops, slates or smartphones, electronic communication is becoming pervasive. In this new chapter of communications there are risks and rewards implying profound changes in the way we develop, share and exchange information, even the way we work and play. The rewards are clear — richer and more frequent client conversations, better research, more informed insight, more accurate presentations.But the risks can be great as well. The in formation we create can be instantly shared through flash drives and across the Internet. Clients, markets and regulators are holding us more accountable for what we say and how we say it. The one-off presentations produced in local offices that differ across the firm should become a distant memory particularly since even small differences in client communications can have regulatory implications, dilute brands and confuse clients and markets. The world is changing at a dizzying rate. Client communications must be timely to add value, but with current technology it can also be too costly and time consuming to develop frequently.A 100-page pitch book for a key client meeting may require data and content from many sites, sources and databases, much of it captured manually. What if the process could be automated, branding managed centrally and compliance built into the process in advance? Microsoft’s partner Xinnovation has the solution — the ability to produce automated presentations within minutes that are compliant with regulations and firmwide brand management standards. Whether we communicate through laptops, slates or smartphones, electronic communication is becoming pervasive. 22 The bank branch of the future CASE STUDY Streamlining client communications at Fidelity Xinnovation streamlined Fidelity’s 22-day data intensive, increasingly complex investment review process into just a few simple hours.Quite impressive when you consider these specialized, targeted presentations can run up to 100 pages chock full of dynamic charts and graphs, which draw from backend data systems. (See Figure 9. ) Fidelity turned to Xinnovation and its Web-based, Microsoft ®-standard XiDocs document automation platform. XiDocs includes easy-to-use features that enable rapid development of solutions. XiDocs features include content management, configurable assembly and publishing of highly customized Microsoft Word, PowerPoint and PDF documents, data-driven Excel charts and graphs, enterprise content, and workflow — all living natively inside Microsoft Office SharePoint Server.It gets better — Fidelity and Xinnovation implemented a direct XML connection with Fidelity’s print and fulfill vendor to maximize workflow capabilities. And if that is not enough smart for one day, Xinnovation’s technology enables Fidelity to provide its reports through its client portal and extend a â€Å"greener† process. FIGURE 9 Automated document generation with Xinnovation The bank branch of the future 23 Origination — developing new business opportunities O ne of the toughest challenges banks face today is origination. This is particularly true in a low-growth environment. So it is important that banks have a clear understanding of where their opportunities lie.Most banks have a marketplace that can be split into three parts: > Customer enthusiasts — customers who are enthusiastic about their relationship w ith the bank and want to expand it > Customers on the fence — customers who are indifferent to their relationship with the bank but could be swayed one way or another > Dissatisfied customers — customers who are about to leave and are waiting for the right opportunity to move on. Against this mix there are further segmentation opportunities. The challenge is to find the right marketing and distribution mix for each customer segment. For example, Bank of America identified the mass affluent as a â€Å"must-win† strategic market.The bank worked with Merrill Lynch to target services to a specific part of its target — the mass affluent — which it defined as customers with investable balances of about $200,000 or more, but not superwealthy. The bank reasoned this group of customers were occasional investors rather than active traders and so offered them 10 free trades a year to boost their loyalty and deepen their relationship. Where does the branch fit in to this mix? Should it be the preserve of a few customers, or is there a way for it to play a role across all sectors of the market? One way of approaching this is to think of the branch as a networking opportunity, emphasizing its social rather than its transaction role.Targeting families, small businesses, emerging entrepreneurs or local clubs and associations reinforces the role of the branch as a focal point for the community. Financial seminars targeted at local entrepreneurs, pension advice for boomers, and financial services for college students are examples of programs that bring traffic to the branch and reinforce its role as a critical part of the local economy. With branch traffic up, the next step is to make it easier to open accounts, browse new services or get financial advice. Increasing self-service facilities — not just ATMs, but interactive walls and Surface devices as well — within the branch is one way of achieving this. But technology doesnâ₠¬â„¢t have to exclude the human element.Enabling bank staff to assist customers through video links on next-generation ATMs and other self-service channels reinforces the relationship between banker and customer rather than excluding it. 24 The bank branch of the future Some of the tools to consider include the following: > Targeting customers through predictive analytics — Reaching out to customers can be costly for several reasons. Along with more traditional campaign costs, companies often fail to take into consideration any negative impacts that a campaign may have in terms of driving customers away or driving customers to consider alternative offers. Predictive analytics plays a critical role in minimizing negative campaign responses and ensuring that campaigns are targeted and effective.This also includes maximizing opportunities for cross sell and retention in the key instances when customers are engaging via inbound channels. Gathering a single view of your customers across all touch points is a critical step in understanding your customers’ needs, and delivering the best possible customer experience to drive customer value in the long term. Whether customers are online, talking to a call center or in the branch, it is important to have a clear picture of who those customers are, and what particular offer, be it cross sell or retention, is best to present them at that moment. One insurance company found that by optimizing customer nteractions in this manner it was able to sell more through inbound channels than through all other channels combined. > Managing customers’ time when they are in the branch — By enabling branch staff to reduce queuing at teller counters they can also engage with customers and explore other service opportunities. A handheld computer device can accelerate deposits, account inquiries, transfers and other simple transactions. Line busting can turn unproductive wait times into business opportunities. S cheduling and calendaring linked to digital signage solutions can manage appointments with branch staff and expectations with customers who might otherwise be unclear when they would be seen. gt; Making it easier to access new services through paperless banking — If a customer wants to open a new account or obtain a new line of credit but has to wait for the paperwork to be completed, that just adds time and cost to the onboarding process and delays revenue realization. It can also frustrate customers and cause them to look elsewhere to meet their needs. Years of paper-based processes may need to be revisited to improve customer experience, improve margins and increase security. > Marketing through self-service transactions — Originations should be possible within the branch through any channel, whether through a bank of PCs, through next- generation ATMs, or call centers accessed from within the branch. Surface devices and interactive walls can be both a source of inf ormation and origination channels.Self-service channels are mainly for existing customers, but it should be just as easy for new customers to become activated through them as well. > Banker-assisted originations — Often completed through paper documents, the origination process can involve several stages, and many documents — account opening forms, signature cards, loan agreements — but if converted Gathering a single view of your customers across all touch points is a critical step in understanding your customers’ needs, and delivering the best possible customer experience to drive value in the long term. The bank branch of the future 25 into electronic form can be completed quickly and easily but still securely while the customer remains in the branch.This shortens the origination process considerably. The problem is how to accomplish this in a secure way. The growth in eSignature technology and supporting regulation (the ESIGN Act and UETA) makes this a much easier option for many banks. > Tellers as relationship managers — Probably the one personal contact the bank customer has the most frequent engagement with is the bank teller. Yet this is the one interaction we want to get over with as quickly as possible. A friendly interaction with a teller can play an important part in origination. But for that to happen the role of tellers within the branch must change and they must be managed very differently as a resource.The first challenge is to manage traffic within the branch to reduce the pressure of a short and pressured interaction. Secondly, tellers’ productivity has to be improved by giving them access to technology that enables them to process transactions more easily. Finally, tellers should know who their customers are, reinforcing the importance of the personal connection. Branch recognition technologies and access to CRM systems can help tellers play a pivotal role in strengthening customer relationships. CA SE STUDY Predictive analytics at U. S. Bancorp with Portrait Software Pitney Bowes Business Insight (PBBI) is a Microsoft Gold partner that leads the pack in the field of predictive analytics. The Consumer Direct division of U. S. Bank, a subsidiary of U. S.Bancorp, found that its traditional marketing campaigns were not delivering the returns they once were, and was failing to target customers with the most relevant message. After two successful trials, U. S. Bank implemented PBBI’s Portrait Uplift solution and has since achieved significant gains — a 300 percent lift — in incremental revenue together with reduced costs through lower mailing volumes. U. S. Bank is just one of several customers in different industries that have found PBBI’s Portrait suite of analytics solutions to be of immense value. Selling to a market of one is a challenge across all industries, financial services in particular. U. S. Bank has achieved significant gains in incremental revenue together with reduced costs through lower mailing volumes. 26 The bank branch of the futurePROFILE Secure paperless banking with digital signature from Topaz and AssureSign We are all familiar with digital signature in the retail environment, even in insurance. A number of leading banks have begun to adopt the process, but in financial services the technology of digital signature is still in its infancy. Whether we are opening a bank or brokerage account or applying for a loan there is usually a lot of paper involved. But paper takes time to process, must be stored and can easily be lost. Plus we need a more reliable way to ensure documents have been signed and stored as securely as possible. Is it time for a fresh approach? Many businesses around the world are saving money by replacing paper processes with electronic signature and document solutions. In the U. S. the ESIGN Act gives electronic signatures the same legal significance as paper signatures, provided the customer consents to the process. Various forms of eSignature exist from a simple click to sign to robust biometric signatures written on electronic signature pads that record the precise shape and sequence of the signature, its strokes and direction of loops, and detailed timing of each part of the signature used in the signing process. Another form of electronic signature that does not incorporate biometrics — the digital signature — uses asymmetric cryptography to ensure documents can be protected once they are signed and any changes related back to the original signer.The technology of eSignature and digital signatures is now available across multiple devices and can be deployed locally or at an enterprise level. Mainly deployed in the public sector and in the retail, healthcare and insurance industries, this technology has already been adopted by a number of leading banks to improve the speed and security of banking document processes. Such efficiencies are leading the ch arge in enabling bank branches to become paperless. AssureSign (www. assuresign. com) and Topaz Systems (www. topazsystems. com) are leaders in the field of electronic signature and document management. FIGURE 10 Topaz eSignature software technology can be deployed across the Web and directly with its biometric electronic signature pads. Biometric signatureAssureSign is a software-as-a-service (SaaS) or on-premise electronic signature solution that allows signers to execute documents via web portal interactions, captures the â€Å"act of signing,† email invitation or in-branch scenarios. AssureSign easily integrates with existing not an image of a signature banking and financial services applications to provide a paperless document execution process. AssureSign can also work alongside Topaz solutions to bridge the gap between in-house and external web-based signing requirements in a FIGURE 11 A biometric signature using AssureSign single platform. AssureSign solutions offer a variety of front-end signer authentication options as well as Electronic Signatures in Global and National Commerce Act (ESign Act) and Uniform Electronic Transactions ACT (UETA) compliant signing processes.Topaz Systems offers a broad array of electronic signature pads for use in teller- and nonteller-related transactions, along with bundled software, authentication and server tools, and plug-ins. Topaz solutions provide the capability for corporations to deploy their technology across any Web-based service and on any device, whether tailor-made or generic. Topaz signature pads are available in color and monochrome versions, wireless versions for use in drive-up teller environments, and pads that capture simultaneous electronic and paper signatures up to full legal clipboard size. (See Figures 10 and 11. ) The bank branch of the future 27 CASE STUDYIncentives at Bank of the West and Varicent If branch staff are to play a different role in the branch of the future, the question tha t arises is whether they should be compensated differently. To meet this challenge, Bank of the West chose Varicent SPM to manage incentive compensation and sales performance throughout the organization. Varicent’s SPM solution was chosen by Bank of the West because of its ability to provide a single system for all compensation plan management that easily integrates with all other existing systems within the bank. Varicent is an industry leader in providing incentive compensation (ICM) and sales performance management (SPM) solutions.Bank of the West, based in San Francisco, offers a full range of business, corporate, personal, trust and international banking services and operates more than 700 branch locations and commercial banking offices in 19 Western and Midwestern states. â€Å"Varicent’s solution will provide us with the unique ability to more effectively analyze important compensation and sales performance metrics. We will also use Varicent to improve the accu racy of our forecasts and to create effective sales incentive models that can drive the right behavior and maximize our future performance,† said Donald Duggan, senior executive vice president and CIO at Bank of the West.Varicent’s approach offers a lower total cost of ownership than alternative solutions and in-depth sales analytics to help understand performance, allowing for accurate forecasting and modeling of future plans. Streamlined administrative processes include the managing an

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FOOD TAXES - Research Paper Example In addition, those states which charge sales tax on food such as Arkansas and Utah subject food sales to local taxes. This leads to differences in the rates of taxes charged from one city to the other within the same state. Although some states do not charge tax on food, there are certain food items or products that are taxable. Each state has provided a list of these non-exempt products. For example, in Iowa, product such as chewing gum, dietary supplements and pet foods and supplies are subject to tax2. Currently, there is debate on whether or not states should start to charge ‘fat tax’. Many have argued that there is need to charge high tax on unhealthy products in order to reduce the occurrence of diseases like obesity and heart diseases. For example, in an article by Lara Salahi and Samantha Meaney (2012), the authors argue that adding tax on unhealthy foods and drinks will help reduce the cases of obesity and other diseases3. For instance, they argue that a tax rate of about 20 per cent in sugar-sweetened drinks could help reduce obesity cases by 3.5 per cent and also help to prevent close to 3000 heart-related

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Bioethics - Essay Example According to the World Health Report 2005, 68,000 women die from unsafe abortion (51). My aim in this paper is to persuade the masses to be pro-choice, in matters of abortion. The ruling of Roe v. Wade of 1973 has made abortion a safe medical procedure in the United States. In the United States alone, about 1.6 million pregnant women seek and carry out abortion. Many people have desired to minimize the number of unwanted or unplanned pregnancies. However, due to the insufficient supply of adequate contraception, contraception failure or unwanted sex, the resulting unwanted pregnancies bear similar risks as those deliberate and desired (50). Singling out abortion from a woman’s reproductive choices is unfair, to say the least. Therefore, legalizing abortion is keeping it safe. Many countries that keep it legal ensure the safety of women who desire to terminate their pregnancies. Unfortunately, as we have seen earlier, not every country supports abortion and this result in an estimated 68,000 deaths. If governments around the world would recognize the right to abortion as a human right, women would be safer. The right to privacy should not exclude the choice of a woman to do what she pleases with her own body. For example, a woman, raped, glares at the reality of raising a rapist child. This will have life-long psychological effects on her. Such a woman may more often end up losing her social standing, and in extreme cases, even losing her marriage. It is safer, therefore, for such a woman to choose abortion, than live a life of regrets and psychological torture. She should not be denied this right. The United Nations Human Rights Committee views a criminal penalty for a pregnant woman who contracts an abortion, as being a dire violation of her right to be free from degrading and inhuman treatment when the pregnancy is a result of rape. In a different scenario, a teenage girl, if raped, will lose her virginity and might more often than not, end up pregnant.

4. Using different newspaper articles on the recession and its origins Essay

4. Using different newspaper articles on the recession and its origins in the credit crunch assess how Webers explanation of value judgments and evidence might help us understand the different views - Essay Example (Hoenisch 2006). It clearly states that facts and information are different from values that exist in a judgment. We understand that a fact or evidence leading to a judgment is different from a value judgment. However, the question here is do facts and evidences on a situation enable us to make value based judgments? While we explore factual and perceptual information of the US recession, let us go over each piece of news from the leading dailies, over the last one year and carefully analyze and arrive at a consensus through Weber’s dichotomy understanding of facts and values. It is essential to arrive at a clear cut estimation of facts and the information stated in these dailies to understand their different views and the origination of the credit crunch. Body: Let us start off with the latest on the US recession. The Guardian reports â€Å"The US unemployment rate has hit a 26-year high after employers shed 663,000 jobs in March to cope with plunging demand for goods and deteriorating economic conditions. The March figures were in line with economists forecasts and they had little immediate impact on the financial markets. The Dow Jones Industrial Average was likely to open marginally higher at the opening bell on Wall Street.There was a degree of relief that the numbers were not worse. Peter Kenny, the managing director of Knight Equity Markets in New Jersey, said: "It gives the market a sense that we dodged a bullet in the very, very near term. Its positive in that it wasnt a blowout number of more than 750,000."Nevertheless, jobs were lost in every sector of the economy except for healthcare and education. The White House had been expecting bad news. Speaking ahead of the figures, President Barack Obamas spokesman, Robert Gibbs, said: "I think its safe to expect - without having seen them - that well see additional severe job cuts in America.† Despite the rising level of

Problem solving Essay Example | Topics and Well Written Essays - 500 words

Problem solving - Essay Example Smoking is badly affecting the society and steps need to be taken to solve this problem. Before the harmful effects of smoking were understood, the stigma attached to this issue did not exist. With awareness and knowledge it was understood that smoking posed health hazards for the smokers and the non smokers. Passive smoking is destroying the normal functions of the bodies of the non smokers and this is unjust. Smoking in public places can cause non smokers to passively smoke and some asthmatic patients can have a triggered asthmatic attack because of it (National Health Survey 1994). Similarly patients who are already suffering from fatal diseases would be triggered by this tobacco smoke if they are exposed to it highly as reported by the CDC (Washington Post 2004). Every human life in this world is precious and they have the right that they should not be exposed to carcinogens which would affect their health and if this ban on smoking does not take place then these individuals woul d be exposed to the carcinogens of cigarette (U.S Department of Health and Human Services). Smoking is a global issue that needs to be dealt with. In developing countries where literacy rate is low, people are more addicted to smoking and hence their behavior towards their relatives, education, society and future changes.

Research an Entertainment Business Paper Example | Topics and Well Written Essays - 500 words

An Entertainment Business - Research Paper Example (ATG, 2011). The business growth that ATG has achieved in less than two decades is a success story, specially attributed to Joint Chief Executive & Creative Director Howard Panter and Joint Chief Executive  Rosemary Squire OBE. Hoyle (2009) has recognizes the effort in these words, â€Å"It is an extraordinary story and one that could have distinct consequences for theatre goers, particularly in the regions, where the Ambassador Theatre Group (ATG) now has five times as many seats as any other operator.† ATG also acquired Live Nation’s Theatres in 2009 to further strengthen its market share. The group achieved the stature of single largest theatre group from scratch as Nighingale states, â€Å"That’s the challenge for Howard Panter and Rosemary Squire — who have seen ATG grow from nothing into the most important theatre group in the nation — have wisely or unwisely set themselves.† (Nighingale, 2009) The business of ATG falls under the doma in of art and media production, theatre and cinema industry. The ATG group run theatre and cinema, produces and invest in plays, films, dramas, live shows, comedy plays etc. It is a vast business sector that has diverse footings. â€Å"The arts, entertainment & recreation sector is a vast industry classification as per the NAICS – North American Industry Classification System.

Influence of Advertisement on Brand Preference Essay Example for Free

Influence of Advertisement on Brand Preference Essay Vithya Vivekananthan, Faculty of Commerce and Management, Eastern University, Vantharumoolai, Sri Lanka [emailprotected] com ABSTRACT Measuring the influence of Advertisement in Consumer Brand Preference is very essential for every marketer. If advertisement does not create any positive change in consumers’ brand preference, all the resources such as money, time and efforts spent on advertisement will go in vain. Most of the marketers use Advertisement as a tool to attract substantially new customers and to retain the existing customers. This research studies about the â€Å"Influence of Advertisement in Consumer Brand Preference in the Soft Drink Market†, which is one of the most competitive markets in Batticaloa. Every Brand in this market use Advertisement as a major weapon to overcome the fierce Competition. There are numerous Advertisements of different Soft drink brands exposed in Television. But, the main thing here is, the marketer want to identify that, do all these advertisements positively influencing the consumers’ brand preference. In order to study the influence of Advertisement in Consumer Brand Preference, three main variables are considered with appropriate dimensions. They are; Information, Communication and Comprehension. The structured questionnaire was used to collect primary data from 200 respondents. The study found that all three variables indicate high influence of Advertisement in consumer brand preference. Even though it has high influence in overall view, the advertiser wants to consider the indicators, which have low and moderate influence in their future developments of the Advertisements to maintain its position in the market in the long-run. Eventually, this study recommends some actions for improving the influence of Advertisement in consumer brand preference. 2 Introduction The importance of sales on business survival and the connection between customers and sales, it is expedient for organizations to engage in programmes that can influence consumers’ decision to purchase its products. This is where advertising and brand management are relevant. Advertising is a subset of promotion mix which is one of the Four ’P’s in the marketing mix i. e. product, price, place and promotion. As a promotional strategy, advertising serve as a major tool in creating product awareness and condition the mind of a potential consumer to take eventual purchase decision. Marketers’ survival depends on consumer satisfaction. Consumer satisfaction depends on their perception and brand preference of the particular brand. In brand preference, advertising plays a major role. Nearly everyone in the modern world influence to some degree by advertising. Organizations in both public and private sectors have learned that the ability to communicate effectively and efficiently with their target audiences is important to their success. In today’s world, there are a myriad of media outlets-print, radio, and television are competing for consumers’ attention. There are number of creative and attractive advertisements we can see and hear in television, Radio, newspapers and in magazines. Within these media, television advertisements are more attractive and interestingly watched by mass audience. It has often been said that television is the ideal advertising medium where the consumer spends the most attentive time. However, the main thing here is, the marketer want to identify the influence of advertising in consumers brand preference. Nowadays soft drinks have become essential part in lifestyle of the people in the society. There are number of soft drink brands are available in the market. In those brands, some brands are very famous not only in Sri Lanka but also globally. For the research purpose Coca-cola, Fanta, Elephant, and Ole are selected. These are the most preferred brand of the consumers in Sri Lanka. For these brands, different advertisements are available in Television. Some brands’ advertisements are more attractive than others are and some are new creative advertisements. There is no any television advertisement regarding Pepsi during the research period. Therefore, Pepsi was not take into consideration. 3 It is very hard to find people who never consume any brand of soft drink. Everyone in the society prefers a particular brand. We can see frequent advertisements for Soft drinks in Television. Companies spend much on their advertisements to attract more customers. So it is very important to study its’ influence in consumer brand preference. Problem statement There are numerous advertisements in Medias; television, radio, newspapers and magazines but, the important question for a marketer is â€Å"do all these advertisements positively influence the consumers’ brand preference? If advertisement is not create any positive change in consumers’ brand preference, all the resources such as money, time and efforts spent on advertisement will go in vain.

Human Rights and Health Concerns Essay Example for Free

Human Rights and Health Concerns Essay Abortion is a controversial issue that opens allows for a large field of topics. These can run the gamut from moral to legal. Below are just a few examples that could assist in narrowing the scope of abortion. Note that there are many more areas that could narrow this subject and give you a better idea on the kinds of questions to ask. Legal Moral Women Rights Health Concerns to Women This is also a good idea for any other issue or subject you encounter in your academic writing career. It helps to narrow anything you come across as most topics or subjects an instructor gives you will be broad on purpose. The reason for this is encourage you to think about the subject and research it. Take the issue or subject and whittle it down into specific topics or areas. Whittle those topics or areas into specific questions. We’ll move on to the second one next. Ask yourself questions about the subject or topic. If asking questions about the narrowed topic seems too†¦narrow, ask questions of the greater subject. Why abortion is considered cruel? Why do anti-abortion factions consider abortion murder? What are the laws and opinions on abortion in other countries and how do they vary from the US (or your country)? What are the costs of Planned Parenthood? Women’s rights and abortion. What health concerns does abortion pose to women? Extremism groups and abortion. The history of abortion in the US (or your country). Government’s role or lack of a role in abortion. What are the moral concerns about abortion? Even though this article is mainly to cover writing prompts, we’ll give you a refresher on developing a thesis statement with the question. It’s not complex and there are several different outcomes you could get from only one question.

Trends in Housekeeping Departments in Hospitality

Trends in Housekeeping Departments in Hospitality AN ESSSAY ON THE 5 TRENDS IN THE HOUSEKEEPING DEPARTMENT OF THE HOSPITALITY INDUSTRY CHAPTER 1 THE HOUSEKEEPING DEPARTMENT 1.1 ABOUT HOUSEKEEPING The first thing that comes to our mind when we talk about the word housekeeping is cleanliness. Every time we enter a five star hotel, the reason why it still looks new and the same every time is because of the Housekeeping department. These Housekeepers work day in and day out in shifts to maintain the standards of the hotel. The aesthetic appeal helps the guest to form a first impression about the hotel. To run a successful hotel, the Housekeeping department plays a crucial role. Even when the hotel’s service is not up to the standards a clean environment or more specifically a clean room could bring back guests again. Even though the Housekeeping is not a revenue generating department, the executive housekeepers need to carefully plan the budget, so that the housekeeping department does not swallow huge funds that could be a potential harm for the hotels future. The complementary kept in each room needs to be carefully monitored always. CHAPTER 2 TRENDS IN THE HOUSEKEEPING DEPARTMENT 2.1 KEEPING UP WITH THE CHANGES Running a successful Housekeeping department is not an easy task. The Executive Housekeeper needs to be very flexible and spontaneous in dealing with guests. With so many websites coming up, which has eased the process of making reservations. The user is given the chance to compare the tariffs and then choose what suits him the best. However, the user also has the opportunity to read reviews of guests who have already experienced the hospitality. The hotel needs to maintain their standards always. With increased market competition even small mistakes could lose guests. Since the appearance and cleanliness is the first thing guest’s talk about, the Housekeeping department need to be on their toes. CHAPTER 3 3. NEW TECHNIQUES FOR STAFF MANAGEMENT 3.1 EFFECTIVE STAFF MANAGEMENT In any hotel, managing staff is the biggest task faced by the employer. When it comes to the Housekeeping department it involves hard labor with long working hours. It is not easy to motivate the employees as it is monotonous and tiring. The management should always take the necessary steps to reduce the high employee turnover. Since the Housekeeping department is in charge of the hotel regarding the rooms and the public areas, there has to be complete co-ordination with the other departments so that the work flow is smooth and fast. 3.2 OVERCOMING THE LANGUAGE BARRIER Most hotels employ staff who cannot speak English. It is a common phenomenon in most hotels around the world. The staff would be professionals at their work but when it comes to communication, their skill would be lacking because of the lack of education. The staff would be very experienced and very skillful though. Since the Housekeepers are in direct contact with the hotel guests, communication is a key aspect. When the guest and a hotel staff find it tough to communicate, it slows things. Communication is also required to co-ordinate with the other departments so that work flow is smooth. At the end of the day, effective communication is the key to success. 3.3 NEW COMMUNICATIVE TECHNIQUES FOLLOWED Many hotels have come up with interesting techniques of communication. This helps the staff to learn quickly and also grasp things easily. Since the staff are trained in these terms, they start relating to it and slowly learn. a. COLOUR CODING Hotels nowadays, are using colour coding’s to differentiate between the various chemicals and wiping products used to clean different areas. The staff can co-relate the colour to the specific wiping product. b. NUMBERING The other option used by hotels is where certain common problems are pre-numbered. This way the staff just need to see which problem comes under what number and they could work with ease. Other training facilities are also available. 3.4 THE BENEFITS The work flow in the hotel becomes easier. Leads to effective Housekeeping planning. The staff get to learn things fast. CHAPTER 4 4. LIGHTING IN HOTELS Lighting plays a very crucial role in any hotel. It actually has the power to make a place look beautiful if it is done to perfection. Hotel’s need to be lit up always whether guests are coming or not as long as they are open. The lighting companies have come a long way, from the time of halogen bulbs to today’s LED strips. When we talk about lighting, they consider it as an investment for the hotel. The lighting can sometimes even hide the mistakes done by the Housekeeping department or vice versa. Hotel’s concentrate a lot on the lighting. 4.1 DIFFERENT KINDS OF LIGHTING The lighting in hotels has seen a lot of changes in the past few years. The LED strips have taken the lime light of lighting. Even though they are expensive, hotels have understood that their benefits far outweigh the costs. However, with further improvisation hotels have come up with this new idea of using ‘ceiling motion sensor lighting’. They in turn help in reducing the costs of the hotel even more. a. PIE DIAGRAM SHOWING THE ELECTRICITY CONSUMPTION BY HOTELS 4.2 CEILING MOTION SENSOR LIGHTING a) About ceiling sensor motion lighting Various statistics have proven that lighting takes up 30 percent of the energy in hotels. However LED lighting have helped in reducing the energy consumption in a large level, ceiling motion sensor lighting have helped hotels to save energy even further. However these sensors reduce the life of the lights marginally but significantly increase the longevity of the lamps. These motion sensors work either through infrared signals or ultrasonic waves. They work according to motion or difference in the body temperature. 4.3 THE ADVANTAGES These sensors help in reducing the energy consumed in less used areas. The Housekeeping staff need not switch off the lights when they are done as they automatically work. The light would appropriately fall only on the areas where the guest needs. It has proven been that the life of the bulb increases. Reduces the operational cost of the hotel. 4.4 LIMITATIONS The life of the bulb is reduced marginally because they turn on and off regularly. 4.5 USER’S Many hotels feel that this motion sensor has helped them in a huge way because it helps in saving energy in areas which aren’t in use that often. Especially in very large hotels where the public areas are not used. The savings in light energy help hotels to increase their earnings in net income by 2 percent. And in a country like the United States, where hotels is the third largest industry these trends help the hotels in a huge way. CHAPTER 5 5. THE CHANGES IN MINIBAR Tiny fridges found in hotel rooms stocked up with alcoholic beverages, canned juices and aerated drinks are called as minibars. They can be found in almost every hotel. It used to be a luxury but as time went by almost all hotels started having minibars in their rooms. No one knows why the products found in the room are very expensive. However most of the time they are outdated or spoilt. In almost every property the minibars are managed by the Housekeepers because they go to the room on a daily basis and also avoids fights between the FB and Housekeeping department. There would be a lot of theft by staff and they would blame each other. In order to avoid this many hotels have come up with new ideas to overcome this problem. 5.1 MINIBARS GOING EXTINCT Lately, many hotels all over the world have slowly stopped providing guests with minibars in the room. These minibars proved to be costly and managing them was very exhaustive. Many guests do not use the minibar facilities as they are priced very high. 5.2 NEW TRENDS IN MINIBAR Many hotels nowadays have come up with new ideas that reduce the cost of maintaining the minibars. These new trends proved to be useful as they also increased the revenue of the hotel. 5.3 THE CONCEPT OF FEED THE FRIDGE A famous five star hotel chain in Orlando has come up with this unique concept called â€Å"FEED THE FRIDGE†. In this program the hotel has completely stopped filling up the minibars with goodies and beverages. Instead the hotel asks the guests what he/she would prefer before their arrival. This new initiative by the hotel was very different compared to other hotels as it also reduced the burden on the Housekeeping department. The hotel also offers the guest with various packages, where the guests can pre order during reservation. This way the guest can choose what they want and use. â€Å"A Sparkling wine package†, which would include champagne with a choice of cheese and crackers. â€Å"Night at the movies†, this includes beer, water or wine with popcorn and a chocolate bar. â€Å"Energizer†, this package come with three energy drinks for the guest and costs $15. â€Å"Card shark†, comes with a pack of cards and a six pack beer. This costs the guest $18. 5.4 USER’S VIEW According to the hotel’s executive Mr. Menelik Tefera, this program proved to be very useful. It cut down the hotel’s cost by $500.00 on a monthly basis. This also helped the hotel in avoiding fights between different departments. He feels this initiative by the hotel has also improved the revenue of in room dining. CHAPTER-6 6. ROOM CLEANING EQUIPMENTS 6.1 THE IMPORTANCE OF CLEAN ROOMS Rooms are a major source of revenue for hotels. They in fact are the hotel’s majority source of income. Even if a hotel has clean rooms it can attract a lot of guests and repeat guest. It need not be part of a very big chain of hotels too. People travelling all over the world are looking for rooms at standard prices and hygienic rooms. Clean and hygienic rooms play a crucial role in the guest’s experience at a hotel. It is important that the hotel takes utmost importance for this aspect. Negative remarks through word of mouth can bring down a hotel. 6.2 CLEANING EQUIPMENTS Over the years there have been improvements for the housekeeping department that made cleaning of rooms faster and easier. With the increase in demand for rooms, the need to clean the room quickly and sell is very crucial. Since there are many hotels, the need to maintain good guest relations is very important. Many companies have come out with equipment’s that has made maintenance and cleaning easy for the housekeepers. One such company called DUPLEX SOLUTIONS. 6.3 DUPLEX SOLUTIONS This company came up with a unique technology that cleans rooms quickly using dry steam at very high temperatures. These equipment’s are specialized to clean specific areas. Even though cleaning is a very time consuming job, this equipment reduces the time to clean a room. a. KEY FEATURES It is very fast and efficient. Cleans the surface at very high temperatures using microfiber technology. It also dries the floor very quickly and does not involve any chemicals. Room cleaning is done at 155 degree Celsius and 94 percent dry steam and deodorizing. This helps the hotel to equip itself for any huge outbreaks. These equipment’s are used for outdoor cleaning as well. b. AREA OF USE Upholstery of chairs and sofas. Mattresses and beds. Curtains and drapes. Spills and bed bugs on carpets. Hard floors. Bathroom can be cleaned in 4 minutes. CHAPTER 7 7. LAUNDRY DEPARTMENT 7.1 ABOUT LAUNDRY One of the major divisions under the Housekeeping department is the laundry service. Different hotels follow various methods of processing their laundry. Laundry includes both the guest’s clothes and the hotel’s linen. The maintenance of laundry is very crucial for hotels. It involves huge costs and hotels need to make sure that these costs don’t exceed the hotels budget. 7.2 TRENDS IN LAUNDRY The laundry department has been seeing various changes over the years. Most hotels either choose in house laundry or it is outsourced to other cleaners. According to the hotel’s budget whichever method is adopted. Other than this, big hotels need to have a proper count of their linen. They need to make sure that loss or theft is minimized. Other problems in hotels is maintaining these linen sheets. Due to the use of chemicals and detergents, the linen lose their look and texture. This would in turn cause huge operational costs for the hotel. A few trends adopted in hotels are: 1. Advanced washing techniques (Green Practices). 2. Hotel linen tracking system. 7.3 ADVANCED WASHING TECHNIQUES a. XEROS BEAD CLEANING (ENVIRONMENT FRIENDLY PRACTICE) This company specializes in making washing machines which help hotels to clean linen in a very eco-friendly manner. They have come up with a unique technology through which the linen are washed through polymer technology. Even though water is the primary resource used for cleaning, this technology enhances the water used and helps in reducing the amount of water used compared to the regular washing machines. b. THE BENEFITS It helps in reducing the costs for hotels. The amount of water used is very less compared to regular machines. Increases the life of linens which is the primary problems faced by hotels. A very new and innovative technique for washing the linen. C. LIMITATIONS The hotels needs to have an in house washing facility. Hence this facility can be used in huge hotels who have the money to invest. d. COMPARISON BETWEEN CONVENTIONAL AND XEROS CLEANING 7.4 HOTEL LINEN TRACKING SYSTEM Hotels need to make sure that the linen are properly managed. If not the hotel would incur high operational costs which would pull down the net profit. Many large scale hotels need to keep a proper tracking management system. This would help them in the long run. a. KEY TONE’S USE of RFID Among the various companies, key tone came up with the unique use of RFID. This technology helps the hotel to track down the linen. It shows a detailed description of where the linen is being dispatched. This way the Housekeeper can keep track of his linen. Bad linen management is the major problem is small scale hotels. This technology helps the hotel to come out of this problem. b. THE BENEFITS The hotel can keep track of their stock of linen. Reducing the cost of laundry because they know exactly the number of clean linen available. It leads to successful Housekeeping planning and puts less pressure on the Housekeepers. This technology generates various reports like ‘linen inventory report’, ‘linen discard report’, ‘shrinkage report’ and many more. c. LIMITATIONS The use of this technology would be high for hotels because individual sheets needs to be marked. CHAPTER 8 8. SUMMARY In this essay I have tried covering the various aspects of the Housekeeping department namely, overcoming the language barrier, innovative machines for cleaning rooms and maintaining the linen, the transition of lighting and new approaches adopted by hotels. All the topics I have chosen are encompassing around better planning for Housekeeping operations for example, innovative equipment’s available for cleaning rooms and maintaining linens, improving guest amenities supplies by starting innovative programs and finally improving guest expectation by employing and training staff in an innovative way and providing the guests with the best lighting.