Sutherland Global Services Is A Financial Corporation Marketing Essay

For any business excellent customer service is the income. Bringing back the customers is the best customer service. And in relation send them away pleased – happy enough to pass encouraging criticism about the business alongside others, who may perhaps then attempt the merchandise or service you recommend for them and in turn into repeat clients. You can offer advancement and cut prices to bring in as many fresh customers as you want, but unless you can search out some of those customers to come back, there will no profit for a long time in your business. If the firm truly wish for having good customer service, all you have to do is make sure that your business constantly does these things:

Respond to the customers’ phone call.

Don’t give the customer promises unless you will fulfil the promise.

Listen to your customers patiently while they are talking and make appropriate responses to show the customers that we are listening.

After listening to the customers’ issue, we have an idea how to deal with complaints.

Be helpful towards the customers even if there are no instant financial gains in it.

If you have any staff, give training to be always supportive or helpful, knowledgeable, and chivalrous.

By taking the extra steps does not mean that you have to tell the customer to search for it, you have to guide them to the right path and wait if they have any queries.

Throw in some additional information about the product that the customer buys.

Following these eight steps, ones business will be known for their good and excellent customer service. The irony of the excellent customer service is that this will increase the number of new customers is the best part. (Ward 2010)

For dealing with the customer service, I have opted Sutherland Global Services for doing the research, as the firm is widely known and personally I was a member of the customer service team in this BPO firm.

Sutherland Global Services is a financial corporation headquartered in Rochester, New York. There are 22,000 employees employed in this business process outsourcing firm and operations in seven countries including India, the Philippines, Canada, Mexico and Bulgaria. Sutherland cherishes their customers or clients as their business companions. They are enthusiastic and keen to provide the highest quality service to the customers and will treat their target and objectives as company’s own. The firm will boost their aggressive benefit by constantly higher than the expectations.

Globalization, expertise promotion, lesser telecommunications expenses, and the adulthood of outsourcing facility providers are motivating companies to influence business process outsourcing (BPO) as a tactical move towards the enhancement of efficiency and taken as a whole functional efficiency. Industries that serve a large number of customers are the most important beneficiaries of a BPO. Because of the physical scenery of the business processes that are mandatory to attain, sustain and retain their customers, companies in these industries are outsourcing a variety of customer-facing and back-office operation.

For more than two decades, Sutherland Global Services has built and managed outsourced operations for 1000 companies’ crossways numerous industries. Over the course of 20 years of experience, Sutherland has urbanized a demonstrated method for supervising outsourced operations that is applied to BPO whereabouts athwart any industry. By sternly clinging to this evolution on each commitment, the company is able to trim down start-up and changeover endangers, accomplish beleaguered objectives more rapidly, and run a more reliable steady-state operation on the clients’ behalf.

Sutherland offers specialized BPO services for the following industries: (i) Retail/e-Retail (ii) Insurance (iii) Mortgage

(iv) Banking/Financial services (v) Healthcare (vi) Telecommunication

(vii) Technology (viii) Energy/Utilities and (ix) Travel and hospitality.

Retail/e-Retail: Retailers function in a globe of tremendous market volatility, cost pressure and supply-chain intricacy. Sutherland supplies incorporated customer-facing and significant back-office support services to a high-speed increasing roll of key leaders in the vend space. Sutherland’s services are geared in the direction of conventional trade, online/e-commerce and direct to customer oriented companies looking for an incorporated resolution. For each client or customer, the firm designed a personalized explanation built just about their explicit needs - together with safety, skill and equipment, procedure, quality and exposure. Leveraging the firm’s field knows how, expertise, processes, and infrastructure, Sutherland helps worldwide retail firms concentrate on end-to-end dare.

Insurance: Sutherland furnishes public and private Insurance companies an end- to-end scheme to perk up their functioning efficiencies and enables them to vie more capably which in turn facilitate them to innovate and generate a eternal aggressive benefit. In particular, Sutherland delivers:

cost lessening and a changeable cost replica

income increases through various allocation channels

go around time upgrading for field force and members/consumers

the aptitude to bring a steady customer skill

Mortgage: Mortgage originators must productively deal with outlay in the phizog of altering technological, operational, and personnel demands. Sutherland’s Mortgage Origination services drastically lesser the risks and expenses linked with a multiplicity of business processes rise above the entire instigation sequence. Sutherland can considerably improve a lender’s output, customer satisfaction, and income generating occasion.

Banking/Financial services: Financial or Banking services companies in each section are beneath strong stress to stay on beneficial. Customer expectations keep on increasing as business leaders features expenditure challenges. Sutherland Global Services suggests a BPO model for contact centre and back-office processes. Delivery options comprise North American aground, work at home, offshore service delivery via the facilities in the Bulgaria, Canada, India, Mexico, Nicaragua, Philippines, United Kingdom and United States.

Healthcare: Generally in customer-focused industries, Health Insurance companies are appraising tactical sourcing alternatives that will consent to them to improved control costs, diminish resource expenditures and get better level of overhaul they deliver to their customers. One way, Health Insurance companies can achieve these objectives is to deem choosy Business Process Outsourcing (BPO) for definite sales, customer service, claims organizational and back-office processing functions.

Technology: Sutherland has about two decades of experience with building and controlling sales, advertising and customer support operations for the technology industry. Sutherland Global is branded and recognized in the industry for knowledge, realm skill and track-record of grades working with some of the most flourishing names in the hi-tech industry.

Energy/Utilities:

Travel and Hospitality: Sutherland understands that travel and hospitality companies’ functions multifaceted organizations with many global business units overseeing separate P&L responsibilities. As business and individual journey experience stable quantity increases, every company faces passionate rivalry to supply astonishing customer service while controlling outlay. Companies must swiftly take action to varying consumer demands, which requires litheness and flexibility in operations, customer relationship management and back office processes.

Telecommunication: It habitually seems hard to locate a business with the aim of more competitive than telecommunications. Service providers are quickly escalating an innovative service skill and insistently entering fresh markets, blurring the lines connecting voice, data, cable, IP and wireless. Exceptional cost and rigid pressure is making it trickier for providers to nurture market share and deal with a healthy profit image.

For numerous telecommunications service providers, outsourcing definite client contact centre and back-office procedure is a reasonable and significant way to stay competitive and nurture their industry. That is why the top telecommunications companies have trusted on Sutherland for more than a decade to experience a variety of aspects of their customer lifecycle management errands.

Sutherland’s has formed for the following types of service providers for outsourcing services for the telecommunications industry. Those are as follows:

• Traditional wire line

• Wireless/mobile

• Cable

• Satellite

• Data network operators

• Internet & online service providers (Sutherland Global Services 2009)

Why Sutherland Global succeeds?

How others make benefit?

How does Sutherland Global make impact on various sectors?

It is very essential for a company to make a good relationship with the customer and the company. This should be the main motto of the company to make a customer happy after getting solved all the issues of the customer. The important factor to set up nonstop or long term achievement is by giving importance to the customers. The main advantage of the company is to deliver quality services to customers and will certainly increase the selling opportunities for a happy customer. By this the company will grow autonomously. Some companies only focus getting new customers and ignore the value of the old customers. They forget that these old customers has helped them the chance to grow. They knew that getting new clients instead of the old ones will be more profitable. But they forget that generating new clients will be more expensive than they are already in the asset. (Customer Service BPO 2008)

Customer service always helps to make an industry more profitable. By keeping the old customers and gaining new ones, brilliant customer service is crucial to any business replica. Human resources professionals must be able to give explanation for the importance of customer service teaching and extract from organization broad support for a complete programme. (Reheer 1999)

The researcher establishes assumption, examines and analyzes the active facts and synthesizes the substantiation into a feasible hypothetical sculpt. Nuisance dealing with objectives, syllabus, course content, desires and style are but a small number of the vital issues that can be determined only through the theoretical or philosophical mode of crisis solving.

Even though a few authors give emphasis to the distinction among science and philosophy, the philosophic process of study follows fundamentally the similar steps as other methods of technical means of solving. The philosophic approach uses systematic facts as the foundation for formulating and test to do research suggestion. (Jerry R. Thomas 2005)

Business process outsourcing or else recognized as BPO is the procedure of leveraging skill vendors in a variety of third worlds or developing countries for doing a career which was on one occasion the dependability of the venture. Or in simple thoughts, it is the method of shifting an internal occupation practice to an outside or external corporation which might have an entirely dissimilar ecological locality. The reassigning of internal business processes, for instance, customer relationship organization, investment & secretarial, human resources and acquisition , to an external service source that improves these processes and administers these functions to an approved service criterion and, classically, at a abridged expenditure.

In general, the processes being outsourcing as division of BPO are backend works like call centres, medical transcription, billing, payroll processing, and data entry and so on. Most of these jobs are outsourced by first world nations like USA and UK to third world nations like India, Philippines, China, Malaysia and some eastern European countries. These nations have a good number of English speaking youth who are given accent and job related training before they are inducted at a salary which is much lesser than what their counterparts in first world nations would require. This allows first world organizations to get advanced profits and offer improved services by lowering the prices and by recruiting more work than they could possibly do. In addition to promoting the first world nations’ economic standard, business process outsourcing has also benefited third world nations by generating much needed jobs.

In the early days, BPO typically consisted of outsourcing processes such as payroll. Then it grew to take in employee reimbursement management. Now it includes a number of functions that are measured "non-core" to the primary business strategy. Now it is common for organizations to outsource fiscal and management processes, human resources functions, accounting and payroll and call centre and customer service performance. These outsourcing deals commonly engross multi-year contracts that can run into hundreds of millions of dollars. Frequently, the people performing the work within for the client firm are transferred and have converted into employees for the service provider. Leading outsourcing service providers in the BPO fields include US companies are Sutherland Global Services, IBM, Accenture, and Hewitt Associates, as well as European and Asian companies Capgemini, Genpact, TCS, Wipro, Infosys and many more and some of which also dominate the IT outsourcing business. (Ritu Thapar. 2010)

Business ethics is fairly ancient as a subject of personage and social apprehension, but it is comparatively newly fangled as an area of social logical analysis. The late 20th century was a deafening instance for business ethics. (Treviño and Weaver 2003)

No access to information: As doing the research, there was any access to information while browsing because of the company policy. The firm will only give access to their company policy only if t helps their employees, agents and trusted third party service providers. (Privacy Policy, 2010)

Lack of knowledge: It could be difficult completing the coursework with no knowledge about the sector or subject you have chosen.

Resistance in companies and people for sharing knowledge

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Integrated Marketing Communication Plan For Toyota Motor Corporation Marketing Essay

Marketing » Integrated Marketing Communication Plan For Toyota Motor Corporation Marketing Essay

This is a one year marketing plan for Toyota Motor Corporation for the year 2011. Upon its adoption and subsequent implementation, it should redeem the company’s dented global image and restore consumer confidence in the products so as to increase the sales margin in the year. The plan analyses the company’s current position relative to its competitors and customers, the current internal and external strengths and weaknesses and the opportunities and threats that are facing the company. It also takes a stakeholder perspective and looks at the company from their point of view, explores the various strategies that the company can use for marketing, as well as the objectives of the marketing plan. Further on, the plan will look at the tactics that the company could use to achieve these objectives, the actions to take, and how the plan will be evaluated and controlled.

Located in Japan, Toyota Motor Corporation is a public company in the motor vehicle industry that was incorporated in 1937. It deals in automobile and other vehicles wholesale; metal building and component manufacturing; light truck and utility vehicle manufacturing; heavy duty truck manufacturing; motor vehicle body manufacturing; gasoline engine and engine parts manufacturing; other motor vehicle electrical and electronic equipment manufacturing; motor vehicle steering and suspension components manufacturing; motor vehicle brake system manufacturing and motor vehicle transmission and power train parts manufacturing (International Directory of Company Histories 2010). Currently the company employees are estimated to be around 214,631 (Hannington 2010). The company’s main competitors include Honda Motors Co., Ltd., General Motors and Ford Motor Company.

To produce reliable vehicles and sustainable development of society by employing innovative and high quality products and services (Toyota 2010)

To sustain profitable growth by providing the best customer experience and dealer support (Toyota 2010)

Encouraging Professional Excellence

Welcoming New Challenges

Encouraging Teamwork

Customer First

Global Perspective

Recently, from September 2009, Toyota was hard hit with the Recall Crisis in which they had to recall about 7.5 million vehicles and suspend the sale of eight of its best selling vehicles, a move that cost the company and dealers an estimated $54 million a day ( Motor Trend 2010). This really affected their sales and image of being the world’s largest and most profitable maker of automobiles with a strong reputation for quality and dependability (CNN 2010).

It is estimated that in the world today, only a third of the populations enjoys the benefits of motor transport and the remaining two thirds do not have access to the privilege of using automated transport (Scott 2010). The potential for growth in the motor industry is therefore promising. This is especially so, in the emerging economies. There is therefore a big potential for quantitative growth in this industry. In addition, there is also space for qualitative growth (Scott 2010). This is in terms of adding value and the improvement of the quality of driving experience. Coupled with the on-going initiatives of improving conventional vehicle functions, the two major opportunities already emerging in the motor industry are in-vehicle mobile terminals and intelligent transportation systems (ITS) (Wesley 2010). ITS will reduce accident risks, route traffic more smoothly and make driving be a more fun-filled experience. Mobile terminals will lead to a major step forward towards the types of information that drivers and passengers can access while on the road (Wesley 2010).

In the developed countries today, consumers are demanding for more customized and luxurious automobiles each day. The total worldwide sales of luxury automobiles are about 1.5 million units with major markets being U.S.A, Japan and Germany (Newman 2010)

Though the developing countries are yet to catch up with this trend of more customized automobiles, there has been a notable increase in demand for less expensive models with low fuel consumption rates ( Littman 2010)

Research also that consumer behavior in this industry directly depends on promotion of products (Smith). The way in which products are promoted directly influences consumer behavior, with the internet being believed to have the most impact (Davis 2010).

Strengths

Global organization with strong international position in 170 countries all over the world

Strong brand image with basis on quality, customized range and environmental friendly.

Industry leader in manufacturing and production of automobiles and parts.

Superb penetration in key markets (EMEA, China, US). It is said to be the second largest automobile manufacturer behind Ford ( Bradley 2010)

Weaknesses

Since it is based in Japan, it is sometimes seen as a foreign car importer in most countries.

Toyota produces most of its cars in the US and Japan whereas its competitors may be more strategically placed to take advantage of the global efficiency gains.

Criticism and dented image due to the large scale recall in 2005, 2009 and 2010.

Opportunities

Innovation and advanced technologies that leads to the demand for more customized and luxurious cars

Demand for cars that use alternative sources of fuel (CNET Car Tech 2010)

New market segments that require expansion into. For example, the upcoming ‘urban youth’ market.

Need for more efficient cars having less impact on the environment with greater performance.

To develop cars that respond to institutional and social wants ( The Motor Social Analyst 2010)

Increased global expansion more so in the emerging markets such as China and India where populations and demands increase by day.

Threats

Fluctuating global political and economic conditions that affect purchase of new cars.

Increased competition and saturation from rivals such as Ford.

Fluctuations in the exchange rates. These affect costs of raw materials and profits.

Shifting global demographics

Changing car usage with governments advocating for the use of public transport systems rather than private cars.

Rising fuel costs and car maintenance costs. This has led to most people getting discouraged from using cars of using them less often.

Such technological inventions as teleconferencing and online learning that reduce the need for car transport.

The stakeholders at Toyota want Toyota to advance their hybrid technology in order to gain brand name strength (Davis 2010). The stakeholders recognize their weaknesses and threats especially that of the recent recall and the Kyoto Protocol and therefore are seeking to do all that is possible to eradicate this (Chapman 2010). They are looking into the future and for ways in which to expand their brand name.

The repair the dented global company image

To redeem the lost global consumer confidence in their products

To expand the market share in order to become the leading automobile manufacturer in the world

To the sales margin by 10%

To increase global brand awareness to an average one in every five people.

As opposed to the traditional way of developing in terms of numbers and volumes, Toyota has developed a system that concentrates on making strategic decisions in line with its successes in the novel markets. Toyota also strives to clear its image in cases involving any kinds of negative publicity in the media. These plans should be achieved through initiating a strong marketing and production department. Consistency in product quality and more efforts in the brand advertisement initiatives are also some of the strategies to be adopted if Toyota has to gain a competitive edge over competitors. The most effective marketing methods should also be sought after. These methods should contain messages that will effectively be relayed to the intended target audience. Introduction of new technologies in to the market should place Toyota at a better position compared to rivals. This may include mass production of hybrid gas-electrical vehicles, eight-speed automatic transmission automobiles among other inventions.

The marketing tactics to be employed by Toyota will include:

Effective pricing of products in order to be the preferred cost-effective automobile precuts globally

Segmenting the market according to various factors such as comfort or fuel consumption in order to ensure that each market segment is catered for in terms of product availability.

Manufacturing more customized motor vehicles to meet specific demands of specific markets.

Consider effective global positioning relative to the other competitors to take advantage of the global efficiency gains.

Using an effective promotional mix e.g. advertisement, public relations, personal selling in order to sensitize the consumer on the new and existing products. These would be through the mass media, internet, global radios and other media.

In order to achieve the above stated objectives, the following actions shall be taken:

6.1 The Marketing Budget. In order to strengthen the marketing department, the company will avail more funds to enable it improve its activities, both quantitatively and qualitatively. The following shall be the annual budget.

ACTIVITY

DEPARTMENT RESPOSIBLE

AMOUNNT (in 000,000 $)

Website maintenance

Marketing

100

Press releases

Marketing

90

Mass media advertisement

Marketing

200

Magazine, brochure and catalogue printing and distribution

Marketing

150

Market research and surveys

Marketing in conjunction with R&D

150

Seminars and other forums

Marketing

100

Bill boards and LCD screens

Marketing

110

Emails

Marketing

100

Totals

1,000

6.2 Activities to be undertaken by the marketing staff. The marketing staff shall have the responsibility of doing the following:

Ensuring that the official company website is up to date with the current products and services of Toyota Motor Corporation and any other issues affecting the company.

Giving press release on a continuous basis and in case of any crises, the frequency of such would be increased to address the maters at hand.

Developing effective catchy and attractive media adverts to be distributed to different global and regional media houses and national or regional newspapers.

Developing, printing and distributing company magazines, brochures, catalogues and fliers regionally and globally.

Carrying out a market survey to find out the consumer perceptions on the company products and their needs.

Organizing seminars and forums where the current and new company products are showcased.

Mounting billboards and LCD screens in major cities around the world that advertise the company products.

Sending target emails to potential customers or clients.

Since this is an annual market plan, it will be evaluated wholesomely at the end of the year. However, there shall be quarterly evaluations in terms of projected sales, market share gained and consumer confidence achieved for each quarter. Evaluation shall be in terms of:

The market share gained

Volumes of sales achieved

Client feedbacks

Responses produced as a result of the marketing activities; whether positive or negative and the extent of each.

New opportunities created and threat eradicated by the plan

Any changes in the sales conversion rates

Returns on investment; whether positive or negative.

Sales control will seek to ensure that all sales will be properly recorded, fulfilled to the customer’s satisfaction and made at the correct places. Checks such as proper receipting and sales recording will be set up in order to ensure this.

To ensure that the company’s activities are reasonably profitable and cost effective, the budget shall not exceed the laid down figures. Unless there are unforeseen situation that will demand further funding, the above budget shall be adhered to.

This will seek to ensure that the set target in terms of brand awareness is reached. The company targets to increase its global brand awareness by approximately one in every five people globally.

Thought the company has undergone hard moments caused by the massive recalls, loss of consumer confidence, global economic crisis among other factors, the above marketing plan will put Toyota Motor Corporation at a competitive edge in comparison to its main competitors such as Ford, General Motors, redeem it s global image and lost consumer confidence in it products and in turn increase its sales margins.

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P12-4A On January 1, 2008, Galactica Corporation had the following stockholders’ equity

accounts.

Common Stock ($20 par value, 60,000 shares issued and

outstanding) $1,200,000

Paid-in Capital in Excess of Par Value 200,000

Retained Earnings 500,000

During the year, the following transactions occurred.

Feb. 1 Declared a $1 cash dividend per share to stockholders of record on February 15,

payable March 1.

Mar. 1 Paid the dividend declared in February.

Apr. 1 Announced a 5-for-1 stock split. Prior to the split, the market price per share was $35.

July 1 Declared a 5% stock dividend to stockholders of record on July 15, distributable July

31. On July 1, the market price of the stock was $7 per share.

July 31 Issued the shares for the stock dividend.

Dec. 1 Declared a $0.50 per share dividend to stockholders of record on December 15,

payable January 5, 2009.

31 Determined that net income for the year was $380,000.

Instructions

(a) Journalize the transactions and closing entries.

(b) Enter the beginning balances and post the entries to the stockholders’ equity accounts.

(Note: Open additional stockholders’ equity accounts as needed.)

(c) Prepare a stockholders’ equity section at December 31.

P12-5A The ledger of Nakona Corporation at December 31, 2008, after the books have been

closed, contains the following stockholders’ equity accounts.

Preferred Stock (10,000 shares issued) $1,000,000

Common Stock (400,000 shares issued) 2,000,000

Paid-in Capital in Excess of Par Value—Preferred 200,000

Paid-in Capital in Excess of Stated Value—Common 1,100,000

Common Stock Dividends Distributable 200,000

Retained Earnings 2,365,000

A review of the accounting records reveals the following.

1. No errors have been made in recording 2008 transactions or in preparing the closing entry for

net income.

2. Preferred stock is 8%, $100 par value, noncumulative, and callable at $125. Since January 1,

2007, 10,000 shares have been outstanding; 20,000 shares are authorized.

3. Common stock is no-par with a stated value of $5 per share; 600,000 shares are authorized.

4. The January 1 balance in Retained Earnings was $2,450,000.

5. On October 1, 100,000 shares of common stock were sold for cash at $8 per share.

6. A cash dividend of $600,000 was declared and properly allocated to preferred and common

stock on November 1. No dividends were paid to preferred stockholders in 2007.

7. On December 31, a 10% common stock dividend was declared out of retained earnings on

common stock when the market price per share was $7.

8. Net income for the year was $795,000.

9. On December 31, 2008, the directors authorized disclosure of a $100,000 restriction of retained

earnings for plant expansion. (Use Note A.)

Instructions

(a) Reproduce the Retained Earnings account (T-account) for the year.

(b) Prepare a retained earnings statement for the year

(c) Prepare a stockholders’ equity section at December 31.

(d) Compute the earnings per share of common stock using 325,000 as the weighted average

shares outstanding for the year.

(e) Compute the allocation of the cash dividend to preferred and common stock.

Ethical Issues in Asia's Corporation

Universal Business Ethics: A challenge to multinational companies.

Fr. Damianus Abun, SVD, MBA, PhD

Divine Word College of Vigan, Ilocos Sur, Philippines

Abstract

Ethic is a code of conduct put forward by society that is accepted by all rational adult individual beyond the boundary of country or culture or religion. Thus ethics is   universal, not relative. What is good and bad, what is right and wrong in one country or culture is also the same accepted by other countries or cultures as good or bad, right and wrong act.

The same true with business ethics. Business ethics is universal, not relative. What is wrong and right, good or bad in one country is accepted as wrong and right, good or bad in other countries. Fraud is bad and that is applicable to all beyond cultures or countries.

Thus multinational companies have to find common ethical ground that is accepted by all rational agent and business practitioners around the globe.

Key words: universal ethics, universal business ethics, descriptive and normative ethics.

Introduction

Discussing ethics is always relevant because it is about how human relates himself/herself to other fellow human, society, and environment. Thus, ethics concerns the human code of conduct on how he/she relates himself/herself to others, society and environment. Such relationship includes business transactions. In this case, how business will relate and treat their customers, their society and environment. It is their social responsibility. Thus, business can not ignore the importance of code of conduct that regulates their behaviour in dealing with their customer, society and environment. Such code of conduct is not only related to local or national business but also international business particularly multinational companies.

The paper will put forward the foundation of such universal business ethics. The argument is that if morality is universal, it cannot be that business ethics is not...

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