CRM Solution for Bank of Central

Question: Discuss about the CRM Solution for Bank of Central. Answer: Introduction The bank of central Queensland, abbreviated as BCQ is financial institution based in Broome. It was established in 1958 a farmers cooperative. The bank has operated as second tier regional bank providing services to the local community. Contrary to what would have been expected to result from the impact and competition of the big four banks, the Central Bank of Queensland has emerged to be successful in its operations. Because of the lean and cost-effective model of business, the bank has been able to deliver remarkable profits to its shareholders, while at the same time protecting the welfare of the customers (BOCQ, 2016, p. 1). This business case on the bank of central Queensland highlights three software vendors that have been identified and proposed three different solutions that will initiate the progress of the Bank of Queensland. BCQ is a financial institution that offers the major insurance, wealth management, equipment finance, and banking services. The bank employs a distinguished concept of owner Managed Branch (OMB) to carry out its activity. It means that it involves a partnership between experienced bank managers (franchisees) and the Bank of Central Queensland (franchisor). BCQ has a network of over 280 branches all over Australia. The increasing demand for efficiency and effectiveness necessitates that the upgrades its business and technology processes to compete sufficiently in the market. The bank hopes to provide better services, maintain its extensive customer base and lure new customers by CMR/data warehouse. This business case extensively describes the three CMR options offered by differ ent vendors. Background There is a dynamic trend in the way that companies utilize and pay for Customer Relation Management (CRM) application. The previous years have registered a notable change in the areas of focus and the way they are done (Lin et al., 2010, P. 113). Initially, companies used to operate on the primary continuous license-based systems to access web-bases CRM, a system where companies provided huge upfront amounts and maintenance fees every year. Currently, companies are shifting from the primary continuous license-based arrangement to a just monthly or annual fee to be offered with CMR services, a move initiated by both the client companies and the service providers. Under such condition, it comes as a foster towards realizing a cost effective and convenient plan for the company and the provider (Kumar, 2010, p. 50). Therefore, it comes with the advantage of being able to save company finances. However, the difference in the arrangement of the pricing system is a point of misunderstanding among buyers and the vendors because they try to compare the total amount of money involved in the service provision. At times, the buyer fails to understand the specific terms of the statement of certain amounts. Therefore, it is important to scrutinize the available options to identify one that is most suitable for the particular company in a particular situation. It is worth noting that the efficiency of these plans is hugely dependent on the particular situation and not a total arrangement across all settings. It justifies the reason for having a variety to choose from (Linoff Berry, 2011, p. 73). Through venturing into alternative businesses, the company has gained a legacy system providing award-winning supply chain solution that the company would like to maintain. However, there is a significant threat of losing its customer base, especially with the Big 4s implementation of new marketing initiatives that tend to attract its customers, which have to be tackled by a counter-plan at an early stage (Elsas et al., 2010, p. 1274). The first step of development of the systems was the consult external consultancies on Information Technology to investigate the available solutions in the market for improving the CMR systems. Three forms were approached, and all of them gave different solutions with different price quotations. The following are the options available and the type of solution that they proposed Ozzie Solution: Build, own and operate Customer Solutions Development Consulting: Build and install Relationship Plus Solution: Build, install, and maintain Not to do anything In this business case, a fourth option is added, which is to do nothing. The status quo option maintains the present systems of CRM and is important as it is going to act at the reference point to evaluate the other options. After conducting the relevant information, a comparative assessment was done to find the operating ratios, simple ROI, IRR, NPV, break-even points, and total operating cost. A comparative risk and benefit assessment were carried out to determine the risk and benefit of each option (Vu Turnell, 2011, p. 530). A comparative evaluation period of five years was set to match the time stated by the providers and the company vision. A most likely forecast of 100 percent growth every year will be considered in the business to attain ease of comparison. Statement of Problem The Big 4 banks have launched new marketing plans that threaten to lure the clients of BCQ, competition more intense in the market. The elevating demand for effectiveness and efficiency has necessitated the BCQ to upgrade its technology support infrastructures and the business process to maintain its competitiveness in the market. Among these infrastructures and processes needed, a CRM solution was the most important or the bank, to make their services better, so that they can maintain the customers they have now as well as attract other customers. The recent initiatives by the government to rebuild commerce and industry in the region have initiated steady migration o workers and steady growth business enterprises (Davis, 2011, p. 13). Analysis The ability of the Bank of Central Queensland has been able to maintain excellent service delivery to its customers, as well as ensuring reasonable returns for the stakeholders through a culture of optimistic risk taking and confidence. The financial institution believes strongly in their product range market and the need to maintain the lead by implementing expansion and innovation initiatives. The Bank of Central Queenslands expansion vision is evident through the acquisition of complementary businesses, venturing into sectors that were not initially on the list of thought. Initially, the bank operated on banking services only but later developed to accommodate insurance and property management, among other ventures. On the other hand, innovation is portrayed through the approval of the company management to approve the investigation of new and improved CMR systems, which would function as growth drivers (Ernest et al., 2011, p. 291). Objective The objective of the business case is to select the best CRM solution for the Bank of Central Queensland. Customer Development Consultation The second option evaluated was Customer Development Solution contender. This option promised to design the data warehouse and CRM database setup, deliver the system, train the company personnel on using the system and finally host the system. Their payment terms include a mobilization fee, milestone delivery amount for the first half, milestone delivery for the amount of the final solution, a training cost, and an annual amount or hosting and controlling the CRM solution. They have experience in finance and banking but with at most two senior project managers, and one with experience may not be available. Benefits The benefits of this option include a flexible payment plan; give that the amount will be paid in phases. Secondly, the group has been in operation for a long time and had experience in finance and banking industry. Thirdly, the transaction is secure as money is paid to the progress of the solution is monitored. The group also has positive legacy integration. Finally, the option has a lower cost of operating and total cost over the stated period. The benefits can be summarized as follows Flexible payment plan Good experience There is room for monitoring the process Positive legacy Lower operating and total cost Costs This option requires a mobilization fee of $300,000, then a milestone fee of $600,000 delivery of the first half of the project. Another $350,000 is requested upon delivery of the second half, and a training cost of $200,000. The annual fee is $450,000 per annum. The prices are as presented below. Mobilization fee $300,000 First half $600,000 Final Solution $350,000 Training cost $200,000 Hosting cost $2,250,000 ($450,000*5) Total Cost $3,700,000 Estimation of timescale for the project This option of CRM solution for the BCQ did not set a time estimation for the delivery of the first half, the final solution, and the training. However, it is expected to take more time, since the solution is developed in phases, plus a training period. The hosting period of the company will be five years. This is the time estimation First half : Not specified Final Solution : Not specified Training period : Not specified Hosting period : Five Years Risks The risks involved with the second option include lack of a timescale for the completion of the project, which may cause budget inconveniences. Secondly, the group has only one or two senior project managers, making it possible that the one with experience on banking may not be available. Finally, it may cause confusion in budgeting since the amounts are distributed over a period. The risk factors can be summarized as follows Lack of timescale Possibility of project manager with experience in banking and insurance not being available Possibility of causing a budgeting confusion Others Among all the options provides the second option the only one that provides training for the company personnel. The fact that reference sites have been provided, BCQ can follow up to trace the suitability of the group for the solution. The phase implementation of the project will ensure that the company benefits from the projects as it goes on. Net Present Value (NPV) Net Present value = Present value of all cash benefits Present value of all the cash outlays NPV = B C B = benefits C = cost bt = benefits in the period r = rate of discount ct = costs in the period NPV = ($56000000 + $31000000 + $18600000 + $18600000)* 1.05 - $3,700,000 = $130410000 - $ 3700000 NPV = $126710000 Internal Rate of Returns Where CFn = cash flow in the period NPV = Net Present Value 0 = ($56000000 + $31000000 + $18600000 + $18600000) * 1.05/ (1 + IRR) = $126710000 IRR = 0.080660563 IRR= 8.07% Return On Investment (ROI) ROI = (Gain from investment cost of investment)/ cost of investment (($56000000 + $31000000 + $18600000 + $18600000) * 0.5 - $3,700,000) ($62100000 - $3,700,000)/ $3,700,000 $58400000/$3,700,000 ROI = 15.78378378 RO1= 15.78 Bibliography BOCQ. (2016). Company overview. Available at www.boq.com.au. Accessed from https://www.boq.com.au/aboutus_company_overview.htm [accessed September 15, 2016]. Davis, K., 2011. The Australian financial system in the 2000s: dodging the bullet. The Australian Economy in the 2000s, pp.313-314. Elsas, R., Hackethal, A. and Holzhuser, M., 2010. The anatomy of bank diversification. Journal of Banking Finance, 34(6), pp.1274-1287. Ernst, H., Hoyer, W.D., Krafft, M. and Krieger, K., 2011. Customer relationship management and company performancethe mediating role of new product performance. Journal of the Academy of Marketing Science, 39(2), pp.290-306. Kumar, V., 2010. Customer relationship management. John Wiley Sons, Ltd. Lin, R.J., Chen, R.H. and Kuan-Shun Chiu, K., 2010. Customer relationship management and innovation capability: an empirical study. Industrial Management Data Systems, 110(1), pp.111-133. Linoff, G.S. and Berry, M.J., 2011. Data mining techniques: for marketing, sales, and customer relationship management. John Wiley Sons. Vu, H. and Turnell, S., 2011. Cost and profit efficiencies of Australian banks and the impact of the global financial crisis. Economic Record, 87(279), pp.525-536.

Accounting and Financial Management

Questions: Consider shares in two companies, JAY and KAY, as follows: Expected Return E(R) Standard Deviation s Correlation Coefficient r Share JAY 12% 18% 0.3 Share KAY 24% 32% a) Calculate the covariance between Share JAY and KAY returns. b) What is the expected return and standard deviation of returns on a portfolio comprising 35% in Share JAY and 65% in Share KAY? c) If you wanted to create a portfolio consisting only of these two shares, how much would you need to invest (weights) in each share so that your portfolio return would be equal to 15.6%? Note: do not round. d) Using the weights calculated in part c), calculate the variance and standard deviation of your portfolio. Answers: a). Covariance = 2/3 ( Return abc Average abc ) * ( Return abc Average abc ) (Sample Size) - 1 = 2/3 x [(18-12) x (35-15)] (2)-1 = 2/3 x [(6)] x [(20)] (2) 1 = 2/3 x 240 5 = covariance is 48 b). Expected return and standard deviation = E(RA) = 2/3 0.12 + 1/3 0.18 = 0.5933 (5.93%) = E(RB) = 2/3 0.35 + 1/3 0.34 = 0.34 (3.4%) The expected rate of return for jay is 5.93% The expected rate of return for Kay is 3.4% Calculation of standard deviation SD(RA) = [2/3 (0.12-0.5933)2 + 1/3 (0.12-0.5933)2]0.5= 2.2535 (22.532%) SD(RB) = [2/3 (0.35-0.34)2 + 1/3 (0.35-0.34)2]0.5 = 0.335 (33.5%) c). In order to create a portfolio based on the above two shares a total 70 weights is required to be invested to arrive at 15.60% which will result in variance being 0.01789 and standard deviation will be 13.35% d). Jay Kay Expected return 12 24 Standard Return 18 32 Correlation coefficient -0.3 Weight 1 Expected Return variance Standard Deviation 100 12% 0.0324 18% 90 13.20% 0.02416 15.54% 80 14.40% 0.0193 13.89% 70 15.60% 0.01783 13.35% 60 16.80% 0.01975 14.05% 50 18% 0.02506 15.83% 40 19.20% 0.03375 18.37% 30 20.40% 0.04583 21.41% 20 21.60% 0.0613 24.76% 10 22.80% 0.08016 28.31% 0 24.00% 0.1024 32% Conclusion The preparations of this report require certain formula and it has adhered in terms of prescribed calculations as listed in the study. The reporting period of the report is in accordance with the financial statement, which will be prepared for a minimum period of at least one financial year. The report is consists of presentations and classification of items in the financial instruments which defines that any materiality changes in the above stated calculations. Recommendations This report illustrates the information, which approves for negotiation of convertible bonds for long term basis carrying the interest rate of 10% along with deterring the market price of each of the bonds issued. The current information about the basis of issue of financial instruments is prepared in accordance with the policies and procedures. Bibliography Parrino, R, Kidwell, D, Au Yong, H, Morkel-Kingsbury, N, Dempsey, M Murray, J 2011, Fundamentals of corporate finance, 1st edn, Wiley, Sydney. Parvi, R., 2014, September. Share price of companies listed on WIG20 and their fair value. InEDIS-Publishing Institution of the University of Zilina EIIC3 rd Electronic International Interdisciplinary Conference(pp. 169-177).

Simple Stimulus Learning

Learning is one of the most crucial processes for human beings particularly when it comes to co-existence in the environment (Aslin, 2008). There are a number of ways through which learning can occur and result in the transformation of behavior. Psychologists define learning as a life long mental process endured by human beings through the acquisition of various forms of knowledge. The ultimate outcome of any meaningful learning is the acquisition of new knowledge, skills, abilities, value systems, and the development of new personal ways of relating with the environment (Aslin, 2008). Advertising We will write a custom essay sample on Simple Stimulus Learning specifically for you for only $16.05 $11/page Learn More Habituation and conditioning are some of the simplest forms of learning. In situations where a given stimulus is incorporated in learning, it is known as stimulus learning. Meaningful stimulus learning occurs when behavior is transformed thro ugh the use of stimuli. This essay discusses the simple stimulus learning. It explains the concept of habituation, analyzes the various factors which affect perceptual learning, and examines the effects of stimulus exposure. The essay also highlights the application of simple stimulus learning to real life situations. According to prominent psychologists, stimulus learning is defined as the permanent transformation in behavior due to first hand experience by an individual (Postman, 2007). The change in behavior is the physical manifestation of the knowledge and skills acquired through learning. This presents a more objective way of finding out if meaningful learning has occurred. Behavior as a result of learning should be relatively permanent as opposed to behavior dynamics arising from emotional variations. There are several forms of learning which have been identified by psychological theorists. Habituation is one of the simplest forms of knowledge acquisition. It results from co ntinued exposure to a specified stimulus. Habituation follows a general pattern which involves the familiarization of a stimulus by an individual. This process is achieved through rapid motivation or noise which in turn controls the individual’s thought process (Postman, 2007). Frequent exposure to a given stimulus will force an individual to become used to it to such an extent that it draws no attention. For instance, if someone shifts to a home on a noisy road, the experience of automobiles passing by will be a major issue. However, being in the environment for some time will eventually lead to the noise being part of the day. The individual, therefore, becomes habituated to the surrounding such that attention to the busy road fades away. This form of learning helps individuals exist in an environment which is filled by vision and noises (Aslin, 2008).Advertising Looking for essay on psychology? Let's see if we can help you! Get your first paper with 15% OFF L earn More Perception presents one of the most dominant means through which humans learn. Perceptual learning occurs as a result of constant practice as well as first hand experience. It causes a change in the collection of important information from the environment which in turn affects an individual’s actions (Adolph, 2007). It has also been noted that people learn through their actions as they interact with the environment. An individual’s desire to explore the environment facilitates perceptual learning to a great extent. As one looks, listens, touches, walks as well as employ other forms of direct observation, he or she acquires knowledge, values, and skills through perceptual learning. Since perception involves fist hand encounter, it is useful in the acquisition of information that help in dealing with immediate objectives (Adolph, 2007). A number of factors have been known to affect perceptual learning. Experience has been picked out as one of the major facto sr that affect perceptual learning and development (Adolph, 2007). The length of time to which one is exposed to a given stimulus determines the extent or degree to which learning may occur. Experience has been linked with age and the timing of when an individual is exposed to it affects the effectiveness of the learning process. Another factor that plays a central role in perceptual learning is the ‘constancy’ of perception. Variations in lighting intensity of the object and the relative positioning of the perceiver greatly affects the energy that facilitates the perception of a given object. Perceptual learning and development enables individuals understand that objects and situations remain unchanged despite the variations in some sensory inputs (Adolph, 2007). A number of psychological researchers have explored the factors that affect the different forms of learning. Prior exposure to particular stimulus has been found to affect the rate of learning in individuals (Postman, 2007). This is because an individual can be able to associate the different stimuli. Exposure, according to research findings, has been known to enhance predictability of given actions or stimuli and hence shapes behavior. Individuals interact with the environment through the various forms of learning and hence can influence as much as they are influenced by their surroundings. Simple stimulus learning has several real life applications. Living in a noisy neighborhood will eventually lead to co-existence when the response to the stimulus fades away through habituation. The essay has elaborated the concept of simple stimulus learning and habituation as one of the simplest form of learning. The various factors affecting perceptual learning have been analyzed. The ways in which exposure to stimulus influences the learning process have also been discussed. Moreover, the paper has highlighted the applications of simple stimulus learning to real life situations. Stimulus learnin g, therefore, is one of the most critical means of acquiring knowledge and skills which facilitate meaningful living.Advertising We will write a custom essay sample on Simple Stimulus Learning specifically for you for only $16.05 $11/page Learn More References Adolph, M. R. (2007). Perceptual learning and development in infants. McGraw Hill Plc. Aslin, R. P. (2008). Learning and stimulus response: an analysis. Berkeley Press Postman, G. L. (2007). â€Å"Understanding stimulus learning.† Psychological Review Journal, 64 (3):426-437 This essay on Simple Stimulus Learning was written and submitted by user Zayne Burks to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Essay Writing Sample - How to Write College Application Essay Samples With Ease

Essay Writing Sample - How to Write College Application Essay Samples With EaseWriting a college application essay sample is one of the tasks that need to be done in order to know about the requirements of the college admission process. If you are going to apply for a college admission, it is necessary that you write the essay sample with a good level of skill and accuracy.There are certain steps that you need to follow while writing a college application essay sample. The first step is to find an easy writing style that would suit your personality and style. You can do this by taking a look at some examples of college applications that have been written by some well-known people.One thing that you need to keep in mind is that certain skills and talents will be helpful while writing a college application essay. The writer who has the greatest knowledge about subjects like history, science, etc is the one who will make the best college application essay. If you are the one who possess the above mentioned skills, then the next thing that you need to do is to find a good college essay writing service provider. These writing services providers work by following certain guidelines and must follow these rules when writing a college application essay sample.In order to write a college application essay with the best level of skill, you must try and list down the qualities that you possess as a writer. If you are not certain about the quality of the essay, you can take some help from a professional essay writer or professional writer online. This will provide you the opportunity to share your ideas and create the right kind of essay.However, there are certain things that you must keep in mind while writing an application essay. Here are some tips:- Do not forget to include the specific details about yourself in your college application essay. This would help you to know the essential things about yourself and how your values and personality play a vital role in giving a final impression about yourself. This helps you to come up with the best college application essay.- The next thing that you need to keep in mind is that you should always be ready to answer the question that is asked by the reader. You should include the answers to the questions that you are not aware of before writing your essay.These are some tips that you can follow while writing a college application essay sample. This can help you come up with the best essay for a particular subject. You can also add a bit of creativity by creating your own style and content.

Gorillas in the mist (video) essays

Gorillas in the mist (video) essays ESSAY: is Dian Fossey a hero or a villain? Dian Fossey was a well-known person that was famous for saving the mountain gorillas in Africa. In my essay, I am going to include who Dian was, what she did and if she got along with the villagers. Was she a hero or a villain? Dian Fossey was an American speech therapist that worked with handy-capped children. Dain attended a conference in America about saving the mountain gorillas in Africa. Dain went to Africa to count the gorillas to see if the population of gorillas were increasing or decreasing. Dian had to leave the mountain because there was a civil war, she continued counting the gorillas after the war finished. She counts half as many gorillas as there was during the last count, which occurred 7 years before. She developed a passion for the gorillas over the weeks that she was counting them and found a technique of getting closer to the gorillas by imitate their movements and sounds. A variety of gorillas tried to protect a baby gorilla from poachers who were going to sell the baby to the zoo. The entire family of gorillas that were protecting the baby were killed. Dian brakes into the van where the baby gorilla was caged. The baby was going to die because it needed its mother. Dian nursed the baby or else she would have passed away because the gorilla frets over her mother. Dian made an agreement with the mayor to nurse the baby for the zoo, for three men to assist her to count the gorillas. Dain nursed the baby gorilla as it improved and then they received the baby gorilla from her and caged her up in the zoo. A year passed and the baby gorilla passed away because the gorilla missed Dian, after talking care of her she thought Dian was her mother. ESSAY: is Dian Fossey a hero or a villain? The poachers came again to slaughter another family for one baby. They sold the fathers hands and feet for ash treys and cut off the head. They also stabb ...

Television and its Impact on Teenagers Essay Example | Topics and Well Written Essays - 750 words

Television and its Impact on Teenagers - Essay Example Television sells, and it not only sells advertising, it sells ideas. The teenage mind is at a stage where it is open to new ideas, experimentation, and is easily swayed by a sense of status through images. Teenagers, often alienated by their parents and the educational system, seek an identity and want to be a part of a reference or in-group. Teenagers will copy what they view on television and the media industry should be pro-active in monitoring all their programming, measuring its social impact, and assuring that it is fit for all viewers, and especially teenagers. When we consider what a teenager may take from television and incorporate into their own life, sex immediately comes to mind. If the teenager feels disconnected from society, or neglected and unloved, they are in a prime position to seek out inappropriate sex. When television romanticizes sex between 13 year olds, the child will be led to believe that this action will bring them status and love. A study by Brown et al. found that regular viewing of sex on television, "accelerates white adolescents' sexual activity and increases their risk of engaging in early sexual intercourse" (1018). It would be irresponsible to encourage a young teenage girl to have sex in any other setting or format. Yet, it is routinely done on television. The industry must self-regulate the television programming and reduce the exposure that young teens have to sexual content. Drugs are another subject that the media inappropriately presents to teenagers, which encourages them to experiment. Often, television portrays drugs in a positive light and fails to show the tragic consequences that accompany drug use. Teenagers learn which drugs are available, where to get them, and how to use them. Television has essentially become a drug education program. Studies have shown that there has been an increase in movies that portray drug use as a "relatively common and carefree behavior among teen characters in teen-centered films" (Stern 342). Teenagers copy this behavior while assuming they will have the same outcome as the characters in the film. In fact, the media industry could show drug use among teens in a more negative context with a more realistic outcome. This could lessen teenagers' misguided view of the consequences of using drugs. Sex and drugs are activities that an average teenager may engage in with or without the encouragement of television, but violence is something that most teens intrinsically avoid. Yet, television programming has the power to desensitize a teenager's mind to violence and make it more acceptable. As teens view a barrage of violence against women, society, and acquaintances on television, they begin to view this as normal behavior. It is commonly accepted that violence, especially in children's television programming, has escalated in recent years, and the results have been disastrous. A large-scale and long-term study reported by Browne and Hamilton-Giachritsis found a close association between increased viewing of television violence and the "likelihood of subsequent antisocial behaviour, such as threatening aggression, assault or physical fights resulting in injury, and robbery" (703). While we may be able to get a teenager off drugs, or encourage them to curtail their sexual activit y, violent tendencies are deeply ingrained into the

Crosspost Essay Example | Topics and Well Written Essays - 250 words

Crosspost - Essay Example Importantly, Killeen and King (2007) observe that nurses should consider how to mitigate factors that could strain the mutual communication between the nurse and the client in an effort to achieve the intended goals. Such factors include age, sex, education and the sensory system of the client among others. King’s theory compares to Dr. Patricia Benner’s novice to expert theory. King postulates humans as open systems constantly interacting with the environment, a concept which Benner uses to argue that expert nurses would develop their patient care skills and understanding over time through interaction of education and experience (Treas & Wilkinson, 2014). Both theories appreciate continuous learning among nurses so as to attain the nursing objectives. However, while King argues that effective nurse-patient interaction would propagate the attainment of the desired nursing goals, Benner observes that education and experience would enable a nurse meet the intended objectives in the profession. Furthermore, it would be appreciated that while King’s goal attainment theory focused on human healthcare as the goal of nursing, Benner’s novice to expert theory focuses on becoming an expert. Killeen, M. B. & King, I. M. (2007). Viewpoint: Use of King’s conceptual system, nursing informatics, and nursing classification systems for global communication. International Journal of Nursing Knowledge, 18 (2), 51 – 57. doi: