Problems and Prospects of Ship Breaking Industries of Bangladesh

Problems and Prospects of Ship Breaking Industries of Bangladesh Submitted to: Mohammad Badruzzaman Bhuiyan Adjunct Faculty Department of Business Administration East West University Submitted by: Md. Mahedi Hasan ID# 2008-3-10-035 Section-1 Date of Submission: July 15, 2012 EAST WEST UNIVERSITY   In the context of increased importance of ship breaking activities in Bangladesh, specially contribution to construction & structural development (>80%); and in national economy & employment opportunity for the poor. But indiscriminate and haphazard ship breaking activities in once biodiversity rich coastal area of Sitakunda, Chittagong is now a barren field. The area is severely degraded with loss of its physical, chemical & biological characteristics.There is very little information on the present status of biodiversity in the area and impact of ship breaking on fisheries and biodiversity. Verbal reports from fishermen indicate that there is a drastic reduction in fish catches which is likely to be due to this ship breaking activities. Ship breaking activities has not yet been recognized as ‘industry’ and still there are no separate guidelines or rules for ship breaking activities in Bangladesh. As a result, there is often accident, loss of valuable human lives & serious violation of human rights & labour rights, including very low wages.On the other hand, impact of ship breaking on the biodiversity is also matter of exploration. But to assess the impact of ship breaking on biodiversity & fishery resources, a research or study is urgently needed not only for the conservation of fishery resources but also to implement a sustainable & eco-friendly policy for ship breaking in Bangladesh. Key words SBRI = The Ship Breaking and Recycling Industry. Shipbreaking: Shipbreaking is the process of dismantling an obsolete vessel’s structure for scrapping or disposal.Conducted on a pier, dry dock or dismantling yard, it involves a wide range of activitie s. From removing all the gear and equipment that are on the ships to cutting down and recycling the ship’s infrastructure. Shipbreaking is a challenging process, due to the structural complexity of the ships and the environmental, safety and health issues involved. Recycling: The process of taking a ship apart; term preferred by the shipping industry. When procedures to safeguard the environment and workers' health and safety are applied, known as â€Å"green recycling†.Executive summary The ship breaking and recycling industry (SBRI) converts end-of-life ships into steel and other recyclable items. Ship recycling offers the most environmentally sustainable way of disposing of old vessels, with virtually every part of the hull and machine complex being reused or recycled as scrap metal. Although the industry is beneficial from a life-cycle assessment point of view, over the years it has gravitated toward countries with low labor costs, weak regulations on occupational safety, and limited environmental enforcement.The â€Å"global shift† in the industry to countries with comparatively weaker regulatory systems is of particular concern as ships contain many hazards that can have significant detrimental effects on humans and the environment if not dealt with properly. Currently, the global center of the ship breaking and recycling industry is located in South Asia, specifically Bangladesh, India, and Pakistan. These three countries account for 70–80 percent of the international market for ship breaking of ocean-going vessels, with China and Turkey accounting for most of the rest.Only about 5 percent of the global volume of such vessels is scrapped outside these five countries. This study focuses on the SBRI in Bangladesh and Pakistan to get a better understanding of the economics of the industry and the environmental impacts arising out of such activity and to explore possible ways in which such environmental effects may be mitigated. 1. 0 Introduction Bangladesh has a long coastal belt of about 710 km which is enriched with natural resources specially fish and other aquatic species of different varieties and has been the focal point of different economic activities.Most of these seashore areas are situated in Chittagong. Sitakund is a seashore area situated a few kilometers north of Chittagong where most of the shipsbreaking yards are concentrated. Shipbreaking industry has not been developed in a day. It has been developed gradually in Bangladesh passing through various stages of its development at an international level. Though the shipbreaking in Bangladesh started in sixties; commercially it started in late seventies. The only shipbreaking industry of the country has been developed in Sitakund areas, Chittagong.There are about 20 forward and backward linkage industries based on this shipbreaking. Now, there are about 20 shipbreaking yards in Sitakund where thousand and hundreds of labour are working. The wor kers are all engaged in dangerous physical labor but they don’t have safety equipments like helmets, goggles, gloves, boots and work suits, medical facilities and moreover financial security. Over the last twenty years more than 400 workers have been killed and 6000 seriously injured according to the Bangladeshi media.The explosion of the Iranian tanker TT Dena on 31 may 2000 alone is said to have caused 50 deaths. To this toll must be added thousands of cases of irreversible disease which have occurred and will occur in future due to the toxic materials that are handled and inhaled without minimum precautions or protective cares. 1. 1 Objective of the Study The ship breaking industry provides great advantages. It’s probably the most environmentally sustainable way of disposing of old vessels, it creates jobs and supply a substantial quantity of scrap steel for the iron and steel industries (e. , it contributed to about 50% of Bangladesh’s steel production). How ever, the hazardous waste and associated occupational health hazards pose a significant national and global concern. The main objective of this report is presenting an overview of this industry through analyzing the prospect and the environmental problems arise form this industry.1. 2 Methodology of the Study There are two types of Assignment method available and they are conclusive and exploratory. Considering the subject topic I have chosen exploratory method. . 2. 1 Primary Sources I have not conducted any survey, rather I have given emphasize on secondary sources. 1. 2. 2 Secondary Sources: In order to complete my assignment work, I depended on the secondary data more than primary data. I got the refined secondary data from the Internet by surfing huge web pages. I downloaded many WebPages, files ; related other things which were very much helpful for me to complete this assignment. 1. 3 Limitations (a) Time limitation is one of the problems to make this assignment. b) Amount of data collection is not very huge because only websites are not sufficient to complete this assignment. (c) Data collection process was irregular. 2. 0 Body of the report 2. 1 Prospect of ship breaking industry The ship breaking and recycling industry plays a significant economic role in Bangladesh and Pakistan, supplying a substantial quantity of re-rollable scrap steel for the iron and steel industries. SBRI provides more than half of Bangladesh’s steel supply, for example, making it a strategic industry in that country.The industry also creates hundreds of thousands of direct and indirect jobs for some of the poorest and most marginalized segments of the population in those countries. The work force in each country varies with the volume of ship breaking but may range from 8,000–22,000 workers in the ship recycling yards to 200,000 in the supply chain, shops, and re-rolling mills—with dependents in extended families estimated to reach over 500,000 in Banglade sh. Shipbreaking plays an important role in the national economy for a number of reasons: 2. 1. Production of steel The scrapping of ships provides the country’s main source of steel and in doing so saves substantial amount of money in foreign exchange by reducing the need to import steel materials. Bangladesh needs 8 million tons of building materials per year, of which iron is a major component. The iron from recycled ships supplies iron materials in the country. This does mean however, that the owners have more power and control over the amount of steel that is sold and the price it is sold at. 2. 1. 2 Green industry (if properly recycled)In some ways it can be considered a â€Å"green industry†. Almost everything on the ship and the ship itself is recycled, reused and resold. The scrapping of ships supplies raw materials to steel mills, steel plate re-manufacturing, asbestos re-manufacturing as well as providing furniture, paint, electrical equipment and lubricants , oil to the number of businesses that have spouted up specifically as a result. 2. 1. 3 Source of revenue It generates large amounts of revenue for various Government authorities through the payment of taxes.Every year the Government collects almost 9000 million taka in revenue from the shipbreaking industry through import duty, yards tax and other taxes. 2. 1. 4 Employment Opportunity Despite the conditions that the workers are employed under, this is an industry that employs more than 20,000 people directly. It provides employment for some of the poorest people from the north of Bangladesh who would otherwise have no employment. These mainly economic benefits have made shipbreaking a powerful industry. But these economic benefits should be considered together with the social and environmental costs.Together, with better regulation shipbreaking can also bring social and environmental benefits. 2. 2 Environmental Impact 2. 2. 1 Pollutants discharged from shipbreaking Though shipbre aking has earned a good reputation for being a profitable industry in developing countries there are a number of environmental and human health hazards. Depending on their size and function, scrapped ships have an unladened weight of between 5,000 and 40,000 tons (the average being 13000+), 95% of which is steel, coated with between 10 and 100 tons of paint containing lead, cadmium, organotins, arsenic, zinc and chromium.Ships also contain a wide range of other hazardous wastes, sealants containing PCBs, up to 7. 5 tones of various types of asbestos and; several thousands liters of oil (engine oil, bilge oil, hydraulic and lubricants oils and grease). Tankers additionally hold up to 1,000 cubic meters of residual oil. Most of these materials have been defined as hazardous waste under the Basel Convention. In Bangladesh, ships containing these materials are being cut up by hand, on open beaches, with no consideration given to safe and environmentally friendly waste management practic es.Ships are not properly cleaned before beaching. Generally, an eyewash test is carried out to certify that a ship is free from dangerous chemical and fumes. Ship breaking activities is a threat to both the terrestrial and marine environment as well as to public health. It is like a mini version of a city that discharges every kind of pollutants a metropolis can generate like liquid, metal, gaseous and solid pollutants. 2. 2. 1. 1 Persistent Organic Pollutants (POP's)POPs are chemicals that are highly toxic, remain intact in the environment for long periods, become widely distributed geographically, bioaccumulate through the food web, accumulate in the fatty tissue of living organisms and pose a risk of causing adverse effects to the human population, wildlife and the environment. There has been a realization that these pollutants, upon exposure of human population, can cause serious health effects ranging from increased incidence of cancers to disruption of hormonal system. Shipbr eaking activities are a source of lethal POPs. 2. 2. 1. 2 AsbestosAsbestos was used in old ships as a heat insulator. As there are no asbestos disposal procedures, during scrapping, workers and the surrounding environment are exposed to the asbestos fibers. Exposure to asbestos fibers (even in very low concentrations) especially through inhalation may cause cancer and asbestosis. On the shipbreaking beaches, asbestos fibers and flocks fly around in the open air. Workers take out asbestos insulation materials with their bare hands. It has also proven to be one of the most lethal, as inhaling asbestos fibers can lead to a wide range of pulmonary roblems such as asthma and asbestosis – and can also be the direct cause of mesothelioma. 2. 2. 1. 3 Heavy metals Heavy metals are found in many parts of ships such as in paints, coatings, anodes and electrical equipment. These are taken apart with no protective measures in place and reused. Exposure can result in lung cancer, cancer of the skin, intestine, kidney, liver or bladder. It can also cause damage to blood vessels. 2. 2. 1. 4 Polluted oil As a result of breaking the ships, oil residues and the other refuses are being spilled, mixed with the sea water and left floating along the entire seashore.Oil may cause serious damage in different ways, such as a reduction of light intensity beneath the water surface which inhibits photosynthesis. Oil films on water reduce the exchange of oxygen and carbon dioxide across the air-sea interface which is harmful to aquatic life. It also causes damage to the bird population by coating their feathers with oil which causes buoyancy and insulation losses. Sometimes spilling may cause wide spread mortality amongst the population of fish, mammals, worms, crabs, mollusks and other water organisms. 2. 2. 2 Impact on physiochemical properties of seawaterShip scrapping activities pollute the seawater environment in the coastal area of Fauzdarhat to Kumira of Chittagong, Banglades h. As a result, toxic concentration of ammonia, marine organisms found in seawater had an increase in PH levels. Extensive human and mechanical activities accelerate the rate and amount of seashore erosion and results in higher turbidity of seawater. Critical concentration of DO and higher BOD were found with an abundance of floatable materials (grease balls and oil films) in the seawater. 2. 2. 3 Impact on inter-tidal sediments and soilsIn shipbreaking areas various refuse and disposable materials are discharged and spilled from scrapped ships and often get mixed with the sand. The scraps from the ships are staked haphazardly on the sea shore, leaving behind an accumulation of metal fragments and rust (particularly iron) in the soil. These together with extensive human and mechanical activities often go on as matter of routine work resulting in the beach soil losing its binding properties and this accelerates the amount of shore erosion and increase the turbidity of sea water and s ediments in the area. . 2. 4 Impact on biodiversity Shipbreaking activities contaminate the coastal soil and sea water environment mainly through the discharge of ammonia, burned oil spillage, floatable grease balls, metal rust (iron) and various other disposable refuse materials together with high turbidity of sea water. The high PH of the seawater and soil observed may be due to the addition of ammonia, oils and lubricants. High turbidity of water can cause a decrease in the concentration of DO and substantially increase the BOD.Furthermore, oil spilling may cause serious damage by reduction of light intensity, inhibiting the exchange of oxygen and carbon dioxide across the air-sea water interface, and by acute toxicity. As a result the growth and abundance of marine organisms especially plankton and fishes may seriously be affected. Indiscriminate expansion of ship breaking activities poses a real threat to the coastal inter-tidal zone and its habitat. 3. 0 Recommendation Conside ring the positive role of ship breaking in national economy ship breaking can not be stopped.Rather a sustainable approach should be taken to minimize the negative consequences of ship breaking activities in our coastal zone. Government should formulate and implement a national policy and principles for safe and sustainable shipbreaking after having consultation with relevant organizations, employers and workers. Both owner and contractors have to take the responsibility in providing compensation, treatment and security for the labours. Adequate compensation for victims of accident and their families, social security†¦etc. should be ensured.Finally, it could be said that, the ship breaking operation involves serious environmental hazards. If the ship breaking industry is to develop in the country, the same may only be allowed ensuring minimization of pollution effect. A longer stretch along the seashore is in no way justified for continuation of this business; rather a certain separate zone like a dockyard should be selected by the competent authority. Preventive measures against environmental and health hazards inherent in the process of ship breaking should be undertaken at the right time, before it is too late.Bibliography Hossain, D. M. M. M. , Islam, M. M. , 2006, Ship Breaking Activities and its Impact on the Coastal Zone of Chittagong, Bangladesh: Towards Sustainable Management, Young Power in Social Action (YPSA) http://en. wikipedia. org/wiki/Ship_breaking http://www. shipbreakingbd. info/ Mamun, A. A. , Akther, M. , Ali, M. , Sumaia, K. , Alam, A. , 2005, Worker in Ship Breaking Industries: A Base Line Survey of Chittagong(Bangladesh), Young Power in Social Action (YPSA) Maria, S. , Frank, S. L. , Milen, D. , Robin, B. , Susan, W. , Roy, W. , 2010, Ship Breaking and Recycling Industries in Bangladesh and Pakistan, Report No 58275-SAS

How Would You Evaluate an Organization’s Hrims?

In modernize era, more and more technology has applied in business and management. Human resource information management system (HRIMS) is one of the applications used for managing people in organizations. However, to have the objective perspective, there could be a efficiency and practical review in organization’s HRIMS. Therefore, this paper will have an overview about benefits and barriers of HRIMS, after that there will be the analysis the effect of HRIMS on organization’s performance and job quality, and the value it brings to company. At first, HIRMS is known as a informatics technology system in which the information is stored and analyzed for purpose of supplying the precise and opportune reports on the management in organizations (Raymond 2010). In addition, HRIS is another definition about technological application in human resource management that is more usually used. Raymond (2010) also quotes the poll of An Australian Human Resource Institute that a large number of firms used HIRMS for recruitment and performance appraisal. HIRMS has a lot of advantages and one of them is cost reductions (Marler 2009; Bondarouk, Ruel and Heijden 2009). The companies which apply electronic human resource management can improve the communication between employees and also enhance the team work spirit. Besides that this system can help the staff increases the abilities and knowledge through the details of individual indicators and applying the adequate training (Boundarouk and Ruel 2009). Last but not least, HRIMS can provide the efficiency to the organizations (Marler 2009; Raymond 2010). The managers and employees can catch the latest information timely to do work conveniently and quickly. On the other hand, HIRMS also has a lot of barriers. According to Bondarouk, Ruel and Heijden (2009), the privacy of statistics should be concerned. Individual communications may cause the conflict between manager and staff, for example, a blog. Next, the security of the system is also the big problem. The accuracy of data is very important so that is necessary to protect HRIMS. Finally, Strohmeier (2007) mentions that the work stress is one of the issue of HRIMS. All the analyzed figures and activities at the workplace is noticed by employer are the pressure of employees. Sometimes, HRIMS makes the distrust in organizations (Strohmeier 2007). Thus, both strengths and weaknesses make the manager to consider how to apply HRIMS in the company. Next, there is the evidence, which proves that human resource management has an important influence on the performance of the organization (Jimenez-Jimenez and Sanz-Valle 2008) and a modern system can help human resource division reaches good performance (Mishra and Akman 2010). The first impact of electronic human resource management is the support for top management. When HRIMS is used reasonably, it can provide the powerful management tools for human resource and improve efficiency and strategy (Haines III and Lafleur 2008). In addition, employers can analyze staff profile, salary fund and market trend and give suitable and timely dicisions (Reddick 2009). Besides that Reddick (2009) also emphasizes that informatics technology system increases the relationship of human resource with other departments. Because human resource division has the closely relation with others and HRIMS can help they communicate easily with less errors and support each other more effectively. Thus, performance of organization can used to evaluate the effectiveness and suitability of HRIMS. Furthermore, job quality is one of factor to evaluate organization’s HRIMS. In fact, human resource management influences job quality including work environment and individual development (Mitlacher 2008). There are many researchers prove that the informatics technology application can enhance the acceptance and satisfaction of employees because of time saving and providing accuracy comments of their chief (Strohmeier 2007). In addition, employee can recognize their strengths and weaknesses and they would be directed to join development promotion training. As the result, right people in suitable position can help the quality of management (Altarawneh and Al-Shqairat 2010). Consequently, personnel is important part of company so job quality can used to assess HRIMS. Finally, the value, which HRIM brings to the company, should be assessed. Initially, type of the system must be depended on the size of corporation. Altarawneh and Al-Shqairat (2010) find that the advantages and disadvantages of HRIMS are different based on whether the company large or small. As the result, the differences between big and small company are cost and risk of the application (Altarawneh and Al-Shqairat 2010). For example, Bondarouk, Ruel and Heijden (2009) indicate that small organizations that have less five hundred employees prefer less cost and more flexible software. Two of the successful systems are SAP and Oracle that are used by large market of organizations (Lee, Olson and Lee 2009). Furthermore, managers can consider the advantages of HRIMS. With this system, they can organize all departments effectively, control the information closely and improve the work environment. For instant, paying salary exactly, which required precisely data of staff is a trouble in some organizations (Valkig and Stigdon 2008). The system can uses data immediately with fewer errors to calculate the wage accurately. Moreover, the executives can solve the barriers of HRIMS such as issuing company policy to help them to avoid legal problem (Raymond 2010) or enhancing the security measures. At last, managers should think about the friendliness of the system. They must consider the technology acceptance model which is useful and easy to use (Bondarouk, Ruel and Heijden 2009). Therefore, evaluating the value of the system can help the manager increase the benefit of HRIMS. Thus, in recent years, applying HRIMS in management is becoming more popular so the managers should have the overview of the effectiveness of this system on their organizations. At first, there should be a evaluation of the benefits and the barriers of the system. Next, the impact on the performance of company is also considered. How the system supports management and how it connects different divisions together. In addition, job quality is one of the most important factors. Employers should mention the effect of HRIMS on work environment and the personnel development of their staff. Lastly, the organizations should evaluate the value of the system. The accurately assessment would help the company to have the right strategy to develop.

Case Study Example | Topics and Well Written Essays - 750 words - 2

Case Study Example Given the massive size and scale of the corruption, do you feel that the punishment was acceptable? Considering the magnitude of the corruption witnesses in virtually all Siemens subsidiaries across the globe, I strongly feel that the US and the German governments grossly under-fined the German company especially considering that at the time, Siemens used to accrue over over70 billion Euros of sales annually. A miniature fine of only $ 1.6 billion did only encourage the company to perpetuate the already worse unethical behavior by bribing the US investigators. Had the regulating authorities impose a much heavier fine on Siemens, the company management and to an extension its employees, would have taken a second thought as far as massive corruption and bribery are concerned. If you were the new Chief Ethics Officer, how would you have handled the situation? As the new Chief Ethics Officer, I would have taken a slightly different course in that instead of summarily dismissing culpable employees, I would have engaged them in the reform process. Since there is no absolute ethical standard or person, the first step would have been to embark on massive employee training process, sensitizing, and enlightening the employees on the benefits of conducting themselves in accordance to acceptable ethical standards. By indulging all the concerned parties in extensive consultations, communications, and negotiations, I think I would have brought back the company to its original course much faster. This is because empowering and encouraging employees has the overall effect of transforming the employees’ culture and subsequently, the organization’s culture, for the better (Fernando, 2010). Was the corruption justified since bribery was legal in Germany until 1999? Before the German government put a ban on bribery and corporate corruption, most companies perceived this as an easy way of going about their business operations. Singled out was the electronics giant, Si emens, which took absolute advantage of the situation in order to gain undue competitive advantage. Several reports quote Siemens top executives insinuating that corruption and bribery gave the company the competitive edge that saw it stay ahead of the game for years. As some may want to believe that Siemens was compliant by engaging in corruption, it beats logic to deny that this act is unethical. By all standards of fairness, any acts of corruption and bribery amount to the breach of acceptable ethical codes of conduct (Twomey et al., 2011).   Ethics and moral justice should prevail in all corporate affairs and no company can justify corruption and bribery as a strategy for achieving company objectives. This is especially so if the acts of corruption and bribery infringe on the rights of other equally competitive companies like the right to fairly and transparently compete for tenders and contracts. Therefore, whatever reason Siemens referred to, there is not a single justificat ion for their unethical behavior (Twomey et al., 2011).   How does an organization make the shift to refine their ethical practices when there is such a radical change in policy? It is no doubt that ethical recovery is an agonizing experience for most companies especially if they were operating on a global platform. However, most organizations do manage to refine their ethical practices after a radical policy change. This, they achieve by following certain approaches that range from transforming the

Undertaking A Site Visit Essay Example | Topics and Well Written Essays - 2000 words

Undertaking A Site Visit - Essay Example ive for Engineers to visit the site quite often to assess if progress being made is in compliance with the safety standards or else they may visit the site in the event that there has been an accident. Indeed, site visiting is not an overnight event hence this essay seeks to outline and explore some of the measures that can be taken when embarking on this particular kind of visit. A contract to construct a project like a shopping complex is often given to a contractor who can in turn subcontract some of the tasks to the others. Basically, the contractor responsible for undertaking the project has all the knowledge about what would be happening at the site but there is every need for Engineers to visit the place to see if there is compliance with expected standards so as to avoid risk of danger such as accidents or injuries or can visit in the event that there has been an accident. First and foremost, it is imperative for the visiting person to gather as much information as possible about the place he is intending to visit. The first thing necessary to do is to obtain as much information as possible about the place from the work provider. The people who are always on site are better informed to have all the instructions and knowledge about the whole area. This is very important since it will give the visitor insight into some of the risks he may expect to enco unter. Besides relying on information from the work providers, it is also important for the visitor to conduct personal research so as to gain in-depth knowledge about the area being visited. The advent of new information and communication especially internet has brought about dramatic changes in the way we do business. Google maps are very useful as far as searching information about any subject is concerned. Conducting personal research is advantageous in that the visitor would familiarise with the place even before visiting since there would be more information that can be accessed online. Google searches

Communication in the digital economy , Essay Example | Topics and Well Written Essays - 2000 words

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David Foster Wallace is on YouTube giving the commencement address at Essay

David Foster Wallace is on YouTube giving the commencement address at Kenyon College, a speech that when published, is called T - Essay Example As a function of seeking to understand this particular speech and a more effective manner, the following analysis will take a nuanced approach, incorporating criticism, review, and analysis of Wallace is pronouncements in the hopes that the reader will gain a more informed understanding with respect to the approach that he champions and the relevance of the information that he presents. Wallace starts by discussing the experience of life; exhorting the listener to â€Å"construct meaning and create relevance† from the otherwise mundane and seemingly pointless activities that all human beings, regardless of their socioeconomic status, race, or ethnic origin, must engage as a function of living. From there, the author delves into the issue of what a liberal arts education actually means; denoting that the education itself means nothing. Rather, the ultimate meaning that is derived from a liberal arts education is solely contingent upon what the individual has the potential to do with it. However, the author strongly encourages the listener to avoid a type of arrogance; maintaining critical awareness in its stead. Whereas it is true, as a Wallace states, that reality is ultimately designed with the individual experience as the only measurement through which understanding can be accomplished, seeking to define the world through such a selfish viewpoint necessarily decreases the degree of empathy and understanding that an individual might otherwise exhibit (Boswell 368). As a function of this, Wallace encourages the individual with regards to what they should pay attention to; defining the debate within oneself and utilizing the liberal arts education as a means of affecting this. As such, not becoming detached, not refusing reality because it is painful, sad, monotonous, or mundane, and continually exercising a right and will towards thinking come to be the prime mechanisms through which Wallace point of view can most reasonably be affected (Veggian 99). In effect, what Wallace is promoting is an understanding of the fact that thinking is a choice and should not be an automatic setting; albeit a choice that a liberal arts education necessarily encourages. Finally, hammering this point home further, Wallace discusses the necessity of not being lulled into a complacent routine. Rather, seeking out â€Å"thinking† and utilizing the experiences and knowledge that are gained from a liberal arts education is not only an opportunity but in fact something of a calling that each and every individual that experiences such an education and can draw upon it must necessarily engage. The irony of all of this has to do with the fact that even though each of these points is effectively expounded upon by Wallace, the author and speaker himself ultimately committed suicide in 2008 (Fest 127). Although the events surrounding his suicide remained largely misunderstood, it is the view of this particular author that Wallace was unable to ascribe to t he high standard of open-mindedness, compassion, and a sense of selflessness that he promoted to the audience within the commencement address. However, this inability upon Wallace part should not be understood as an effective dismissal of the

Implementations of Customer Relations Management System by Royal Mint Essay

Implementations of Customer Relations Management System by Royal Mint - Essay Example The Royal Mint Company requires a CRM system to facilitate the management of marketing information. The company will effectively acquire customer information and process it within the CRM system’s database to make marketing decisions and plans in addition to the evaluation of the impact of the company’s marketing endeavours. In implementing a Customer Relations Management system, Royal Mint stands to gain several benefits including better quality services and increased efficiency. CRM also helps to ensure reduced operational costs, increased profitability, and decision making support. The system leads to customer intimacy and thereby ensures the retention of existing customers. However, in the use of data stored in CRM, Royal Mint has to ensure the security of such data. This is because the use of such data could lead to ethical and legal issues. Access of such data has to be restricted as well as the transfer controlled. Introduction Romano and Fjermestad (2003, p. 233 ) define Customer Relationship Management (CRM) as the process of managing the interactive relationship of a business organization or a company with its customers. CRM is usually automated and applies technology to foster communication between a company and its clients. CRM therefore uses information systems which include computer application software which facilitate communication and interaction between a company and customers who are the major stakeholders of business functions and thus determine the success of the business. The composition of a CRM system is basically made of the hardware and software elements, the people who are involves, processes, procedures and policies which govern the application of the system to realize the goals of the business (Schierholz, Kolbe and Brenner 2007, p. 830). The benefits of CRM include increased profitability, better customer relations and higher quality products. The paper discusses the elements of a CRM system, its benefits and the ethic al issues involved in the use of the CRM system with a special relation on the Royal Mint Marketing strategy. Elements of CRM System According to Mandic (2011, p. 347), information technology is the major element of a CRM system because it is through these computer systems that companies are enabled to effectively communicate with their customer. The Royal Mint which is England’s legal entity which is authorized to mint or manufacture coins and medals has invested in information technology as the most appropriate way of facilitating interaction with its customers as described by Boulton (2011, p. 48). The marketing strategies of the company apply information systems to manage its customer base and enhance communication between the company and these clients. However the company has not utilized CRM system in making marketing decisions. Information technology in making marketing decisions is used to facilitate the management of customer information for marketing reasons. In a C RM system analytical tools and computer systems are used to gather client information and use it to make marketing decisions. Therefore the Royal Mint should apply information technology to maintain a database of its customers and also facilitate the interaction with its market. The use of CRM in marketing includes displaying the company’s products on the internet which can be accessed by the clients through creation of user accounts through the company’