English 2 - DB 3 Essay Example | Topics and Well Written Essays - 250 words

English 2 - DB 3 - Essay Example Main Point 3: Alcohol has a negative effect on the health of the drinker since it exposes them to diseases such as cirrhosis (OMalley, & Wagenaar, 1991). Such chronic diseases reduce the life expectancy period and hence bringing the allowable drinking age to 18 years will consequently reduce the society’s life expectancy age. Sources 1: OMalley, P. M., & Wagenaar, A. C. (1991). Effects of minimum drinking age laws on alcohol use, related behaviors and traffic crash involvement among American youth: 1976-1987. Journal of Studies on Alcohol and Drugs, 52(5), 478. According to the research done by O’Malley and Wagenaar, there is enough proof that reducing the drinking age has adverse negative effects. The effects negative not only affect the teenager, but they extend to the society both in the short and long run (OMalley, & Wagenaar, 1991). They note that the action would not have any advantages to the teenagers, and the only possible beneficiaries are the alcohol manufacturers since they will have increased sales. This journal discusses the effects of reducing the legal drinking age .according to the research; they note that alcoholism at a young age creates a risk to the teenager’s life in many ways. â€Å"Self-control at the age of 18 is very low and hence legalizing alcohol to young adults exposes them to diverse risks.† (Miron, & Tetelbaum, 2009). OMalley, P. M., & Wagenaar, A. C. (1991). Effects of minimum drinking age laws on alcohol use, related behaviors and traffic crash involvement among American youth: 1976-1987. Journal of Studies on Alcohol and Drugs, 52(5),

Second Chance Holidays Essay Example | Topics and Well Written Essays - 1250 words

Second Chance Holidays - Essay Example This research methodology is used in fields such as women's studies, education, management studies, and human services studies and so on and the results of this research are conclusive in nature. Quantitative research is a type of research methodology which makes use of the data collected on a particular subject of research to understand the subject. It is a systematic process, the objective of which is to develop and use mathematical models, theories and hypothesis on the subject of study. In doing so it looks into the quantitative properties of the subject being researched and the relationship between each to come to a conclusion. Quantitative research make use of models theories and hypothesis, requires the collection of empirical data and the variables of the data collected at manipulated to find out various results. The use of both qualitative research and quantitative research is necessary to understand the behavior and reposes of the niche market (Luxury cruise for the affluent), to which the company want to cater to and gain a foothold. The determinants of exploratory research are the behavior and responses of the subjects of the research and theirs motive and decision-making process. ... ical research is a type of research methodology which brings out the features or characteristics of the people or phenomenon which is the subject of the research. It is used to determine answers to who, what, where, when and how. Descriptive research is used mainly in calculating frequencies and averages and in making statistical calculations; however, it is not useful in making an analysis whereby causal relationship can be created to understanding the process of how one variable affects another in the relationship in order to draw conclusion. Exploratory research is a type of research methodology which is used to clarify a particular situation because the situation is not defined properly. The process of exploratory research will involve collecting data through methods such as review of existing data or literature, use of discussion, conducting interviews and formation of focus groups, use of projective methods, case studies or pilot studies to gather information on the subject of research. The results of qualitative research gives answers to "why", "how" and "when" something occurs, but it cannot give answers to "how often" or "how many", on the topic of research. Definition of focus group research Focus group research/study is a qualitative market research tool, in which a group of people are brought together to carry out a discussions on a particular topic for research for find out more information of the topic and use the information to give solution to a particular problem at hand. In the marketing scenario, focus groups enable an organization which wants to develop, package, name, or test market a new product, to make a through analysis of the topic before it is made available to the public Benefits and drawbacks of focus group research There are many

Language Change Essay Example for Free

Language Change Essay Theorists such as David Crystal have taken an open-minded approach to such change, explaining that â€Å"there is no predictable direction for the changes that are taking place. They are just that: changes. Not changes for the better; nor changes for the worse; just changes, sometimes going one way, sometimes another. † This statement articulates the prescriptivist view that language is an organic part of life which evolves and grows to suit the needs of its contextual time, just as living organisms do. Texts I and J show a distinct journey of change in the English lexicon between 1878 and 1965, ranging from graphological features through to the individual lexical choices and even the ways in which the audience of each of the texts is addressed. In exploring these texts, conclusions will be drawn as to the extent of the change that language has undergone, and what the causes, and indeed the impacts of these changes may have been. One of the most notable differences between these texts is their graphological presentation. Text I is composed in an expressly simple way, using a serif typeface which was likely to have been produced on a printing press, given that the text itself appears to have jagged edges, implying that ink had been applied to a block or stamp in order to produce the text something uncommon to contemporary means of printing. It is also interesting to note the complete lack of images, and the justified alignment of the text throughout. The text is not split up at all, other than into paragraphs and here is no use of italics or bold text at any point in the text. Text J, conversely, uses a graphologically complex structure, with an image to text ratio of around 1:1. Three blocks of text are accompanied by three images of men and women together, two of which display a dance scene and the last of which displays the onset of intimacy the desired goal of the text which was written as an instructional piece, seemingly aimed at the female gender. The images supplied are directly photograph, rather than illustrations, representing the development of technology and the availability of photography cameras and digital arrangement of photographs and text to create such a publication. Text J also makes use of italicisation in order to emphasise the lexical items â€Å"those† and â€Å"your. † The use of the lexical item â€Å"those† here is a deictic expression, implying a shared pragmatic and contextual knowledge between the producer and the reader of the text. This is echoed throughout the text, where an informal and friendly tone is adopted throughout. This is confirmed by the consistent application of elision, forming contractions of lexis such as â€Å"do not† to become â€Å"don’t†, showing the adoption of a primarily informal register. The method of address can be considered in terms of Norman Fairclough’s theory of synthetic personalisation, where first person pronouns are used to directly address the reader and indicate a kind of relationship between the writer and reader, where some shared understanding and common-ground can be found. This personalised and informal approach to writing is another area of particular development from the older text. Text I, in stark contrast to text J, adopts a formal register throughout, using latinate lexis to imply an ascendant status to the reader. This is connected to gender theories, where men are often considered to be more direct, and to write with a stronger tone of authority. Some of the lexical choices made in this text show the lexical development of language specifically, as archaic latinate terms like â€Å"effrontery† are found throughout the text. This is indicative of the broadly formal approach to this text, in opposition to the relaxed, informal approach within text J. Text I appears to adhere to the rules of the oppositional table in regard to written and spoken discourse, where a predominantly objective approach is taken, other than a single reference with the pronoun â€Å"your† is made to the reader. Other than this instance, the text remains entirely objective, referring in the third person to entities for the purpose of explanation. Text J, on the other hand, uses the interpersonal approach which is more common to spoken discourse to address its audience. In terms of the oppositional table, a further consideration can be made as to which side these texts sit more appropriately. This observation is made specifically in regard to the grammatical complexity of the texts, for which text I is more advanced. The use of more advanced punctuation such as the regular application of the semi-colon is exclusive to text I, where the aim is to extend the length of sentences in many places. The semi-colon is accompanied by regular use of commas, where sentences often run to such lengths that they dominate entire paragraphs. This shows the direct intention of the producer to create an undoubtedly written piece of text which was designed to be a basis of authority on a subject of which the producer holds superior knowledge to the reader. When examining text J for the same reasons, the opposing side of the table can be identified, where a grammatically simple text uses exclamatory sentences to deliver impact, and keep a short and chatty tone to convey the points at hand. Text J also uses some unusual starters to sentences, even using conjunctions to begin not only sentences, but paragraphs too. The purpose of these texts display an underlying social and contextual development over the time between the production of each of the texts, where an audience shift from the male to the female appears to take place, showing growing levels of egalitarianism among genders. The growth of significance of the female gender in the establishment of relationships has caused the male tone to be muted somewhat, opting for a more gender-neutral tone, even in a text which was principally written for the female gender, given its contextual location of appearance. While a focus on politeness in the content of the texts remains the same, the way in which this message is conveyed has undergone vast and wide-ranging development. A growth in the status of women through social and political development has given the female gender a more equal position in the audience position of writing such as this. Further to the contextual factors, the means of production of text has also undergone vast development with the advent of digital technology, increasing the ease of production of such texts, and expanding on the flexibility of presentational and graphological features.

Competition in Broadcasting: BBC

Competition in Broadcasting: BBC In Western Europe, North America and Eastern Europe mainly persistent talks are about the broadcasting rules of the public or community. Newly enhanced machinery, rules and ways of doing business changed the actions and topic of debates and extent of work. BBC stays on first channel of the all. It provides free advertising services to its viewers. It is financed by the TV licence fee that viewers pay annually and fifty percent discount for blind people. It earned status for worlds no. 1 TV channel. It gains status by its news and entertainment channels. Following are the channels of BBC: Now a days broadcasting companies are competing with each other. They do what they want to see their company on first place. Main competitors of BBC NEWS are CNN, Fox NEWS, Sky NEWS and all local media channels. In the world of entertainment the BBC main competitors are Channel 4, ITV, boomerang, discovery and etc. BBC World of Digital TV: In beginning of 1998, people do not have any concept of digital television. After the six years, almost in every home there is digital TV. People like digital television network more than the non-digital system because it has channels in greater number than the non-digital system. Now a days every one can enjoy more than 200 channels by paying just little amount. In the last 6 years, BBC remarkably increases its amount of output by opening a series of TV channels and now BBC is broadcasting excessive amount of output i-e 380 hrs per week. Competitive Analysis: BBC performs like an ideal in approximately whole of the European market like in Germany, France, Switzerland and etc. In the United Kingdom the BBC make market share up to the 36% as the survey about this is conducted in 2005. While in radio BBC occupy the 54% market share as said by the governor in 2005. BBC NEWS: According to my point of view globally BBC and CNN are the main competitors in the news casting media both of them captured the more than 50% market shares of the whole market. International sources of news are increasing the number viewers by giving them choices of viewing the news on their mobile, by texting and on internet. It is written in the lines of article that published in Europe (1998), CNN the main competitor of BBC is currently having more viewers on internet other than on broadcasting. CNN in addition declaring that they have more than 50 million viewers who use the messaging facility. That is the story of CNN, in response of the strategies of CNN; BBC starts to modify the services of TV by accumulating more news about trades, limiting the long news i-e cutting down the irrelevant material from stories and learning the best marketing illusions to capture the attention of its viewers. BBC Entertainment: BBC Cbeebies channel that is for the child viewers of who do not go to school and BBC CbbC is concentrated on the kids whose age are ranging from six to fourteen. These are the channels of BBC who are focusing on kids but few more channels like boomerang, disney playhouse and nick jr that are also about the kids who do not go to school. There are also thirteen more kids TV channels who concentrate on the kid of age ranging from six to fourteen. Competitors of BBC kids channels are strong enough in terms of finance and also that the international contributions are helping out the market. Currently their capability is not in danger. But still to take competitors out of business the strategies of BBC are quite clever because they are targeting on the segmented marketing i-e niche or position marketing. See Appendix 2. There is another channel names BBC FOUR, it is very diverse channel based on culture and science fiction programmes and its competitors are the history channel, discovery, discovery health etc. BBC FOUR and its competitors are all working well and it is before time to say that BBC FOUR have problem with finance because it is the diverse type of channel and people who have interest in science and the people who have interest in culture will always be watching this channels. There is not as much competition in these types of channels. See Appendix 3. BBC three is a channel that catches the attention of same age group. The viewers of the BBC three recommended that this channel can excel and can leave behind its competitors. The rival of BBC three, Channel 4 finds that BBC three is giving a lot of money to its hosts and this is causing the inflation. Share of BBC three is improved merely 0.2%. Its majority rivals are being not changed i-e they keep up the share at the same level. While in response BBC three start to concentrate on youth. Rivalries in this type of channels are strong. See Appendix 4.

hypnosis :: essays research papers

A Hystory of Hypnosis Home Vitamins Thermometers Blood pressure Skincare Hot Supplements Hypnosis Women Men Weight loss Stop Smoking Erotic Hypnosis Self Hypnosis Personal Protection Links Dr. Franz Friedrich Anton Mesmer was an Austrian physician who was infamous for inducing a hypnotic and trancelike state in human beings as a curative remedy. This process of mesmerism, as it soon became known, was powerful enough to exercise an extraordinary influence on the human body. The doctor labeled this ability as animal magnetism. In 1772, Mesmer first began to develop and refine his technique, and three years later he published a report on his discovery, under the claim that it possessed medicinal value. Mesmer's system included the use of the glass armonica as a hypnotic device, because the sounds produced were extremely high-pitched and ethereal. To hear a sound similar to the glass armonica, be sure your hands are clean, take an empty crystal wine glass, wet your finger with water and run it around the rim of the glass in a complete circle, several times. Move your finger smoothly in a circular motion. The sound will change by adding different amounts of liquid in the glass. The presence of water in the glass decreases the vibrational frequency. Therefore, the pitch is lower than that of the empty glass. Increasing the size of the glass would produce a similar effect in the tone of the sound. The glass armonica was a vital ingredient in Mesmer's hypnotic 'magnetic sà ©ances'. His patients, mostly 'hysterical bourgeois women', were placed in a magnetic tub filled with glass powder and iron filings, and massaged into a relaxed state by the sweet, distant tones of a glass armonica played behind curtains covered with astrological symbols. Then Mesmer himself, clad in a long purple robe, would enter and touch each patient with a white wand, sending them into a magnetic trance from which they awakened fully cured. In 1778 Marie Paradies, a blind pianist who suffered from hysterical blindness, approached Mesmer for treatment. Mesmer temporarily restored her eyesight, but the inundation of visual stimuli ruined her nerves and destroyed her ability to play the piano. Mesmer was therefore in bad graces with Empress Maria Theresa, godmother of Marie Paradies, and wisely moved to Paris. He became extremely popular in Paris through the efforts of Queen Marie Antoinette; in fact too popular for King Louis XVI, who in 1784 appointed a special committee from the Paris Medical Society and Academy to "check this Mesmer's success." Incidentally, in 1785 the French government appointed a committee of physicians and scientists to investigate the work of the Austrian.

Affirmative Action and Discrimination :: Free Essays Online

Affirmative Action and Discrimination 1. Race relations in general and affirmative action in particular have arguably been the most divisive and hotly contested issues in contemporary American politics. Many people feel that affirmative action is necessary to either counteract injustices or ensure the advancement of certain minorities. Affirmative action proponents generally point to four justifications. These are racism, poverty, diversity, and the problem of underrepresentation. Proponents point out that many blacks, Hispanics and Native Americans live in substandard housing, go to substandard schools, and live in neighborhoods where crime is rampant. They claim that they are victims of daily racism and that this hurts their chances for advancement. Proponents point to small numbers of these minorities in certain desirable jobs (i.e. CEOs of corporations and high elected office) as evidence of underrepresentation of minorities and a need for diversity both in the workplace and in higher education. 2. There are several different levels of affirmative action. They include: quotas, preferences, and outreach, in lessening order of severity. Quotas, also called â€Å"set asides†, deal with having a certain amount of jobs or college spots reserved for a particular group. For example, if a University admits 1000 students every year and sets aside 150 seats that are open to blacks only, this is an example of a quota. In the Supreme Court case Bakke v Regents of the University of California , the court ruled that these quotas could not be used by the system but that race could be considered a plus in admissions to the medical school. This brings us to preferences. Preferences are when persons from certain groups (usually groups that have been underrepresented or disadvantaged) are given a ‘boost' in admissions. An example of this would be the practice at the University of Michigan, which was recently overruled by a U.S. District Court. At the University of Michigan, appli cants are graded on a 150-point scale. Blacks, Hispanics and American Indians get 20 points for their race, equal to raising their grade-point average a full point on a 4 -point scale (Focus on Affirmative†¦). This case has recently been appealed to the Supreme Court, casing new light on this decades old question. The third and least severe form of affirmative action occurs when no preferences are given, but when special efforts are made to recruit members of certain groups. This is called outreach. An example of this would be when a Hispanic student receives a letter from the minority recruitment office at a prestigious university urging him to apply (Ezorsky, 34).

Wells Fargo Analysis

MERCK & COMPANY INC.1. The marketing mix A. Product / Service Wells Fargo is an American bank that provides financial services to its customers throughout North America and Internationally. Our marketing mix starts with the description of the service mix of the firm Wells Fargo. This company gathers different ranges of services offered to the market place to meet the customers’ needs and expectations. Wells Fargo counts nine different kinds of bank services to compete in the financial industry.Ranges of services: Banking (Debit, credit card, Checking and saving account) * Brokerage (Facilitate the buying and selling of financial securities) * Insurance * Wealth management * Retirement services * Investments * Mortgages (4000 in 2009) * Consumer finance services (financial advice) * Well Fargo’s Financial Securities: Security business (merger advice, stock and bond underwriting, loan syndications, and fixed-income trading) B. Price We do not have any information about th e price of the services in the case study. C. Place Wells Fargo has a wide presence throughout the US territory.Headquartered in San Francisco, the company is decentralized to provide an optimization of the geographical coverage. Therefore, every local Wells Fargo store is like the headquarter for satisfying all their customers. The decentralization is an effective strategy when a company tries to have an effective wide presence on any market. This strategy has made the success of many of the Scandinavian organizations or institutions. Indeed, it allows any company, like Wells Fargo to get closer to its customers and be able to understand and meet better their needs and expectations.As we can see from the case, the company is doing well with its distribution and the customers service in general, it has even been rewarded Retail banker of the year according to US Banker. Consumers want and need a bank office near to the place where they live or where they work. The bank company must be strongly present in the quite big city and in the metropolitan area where the demand for the financial services is important. That is why Wells Fargo has developed a wide distribution, in the US domestic market, throughout more than 6,700 retail stores in 40 states in widely in North America.The acquisition of Wachovia is a part of a new distribution strategy to reach more consumers with an extended presence on the market. Now, Wells Fargo has branches almost all the states from the East to the West both in the North and the South. This acquisition has allowed Wells Fargo to extend its presence in the Eastern part of the US, which represents a huge part of the financial market. Indeed, Wachovia had a strong presence in the part of the US especially in Connecticut, Florida, Virginia, North and South Carolina. 6,700 Banking Stores: 3,296 US Wells Fargo Banking stores * 3,314 US Wachovia Banking stores * 90 Other financial branches Finally, in addition to the classical distribution channel, Wells Fargo use the electronic distribution with its online website where customers can be informed and have an access to some services like checking accounts, make wire transfer, plan a rendezvous with a financial adviser†¦ D. Positioning Without information about promotion, we chose to develop a part about positioning that is, in fact, a sub part of the promotion.In marketing, positioning is the process by which marketers try to create an image or identity in the minds of their target market. Positioning on the global market with a presence in Canada, in the Caribbean, Latin America and other countries, Wells Fargo is especially focused on the US national market. In 2008, after the acquisition Wachovia, a Wells Fargo’s press release said that the company was:† the most Extensive Financial Services company, Coast-to-Coast in community banking†. Wells Fargo is widely recognized in the financial industry.The company has built a very credible reputatio n with its promotional campaigns, its track records and the customer loyalty. The statistics based on the industry and government sources clearly show its size and brand image: * 41st revenue among all US companies ranked by Fortune * 17th most profitable company in the US * 33rd Largest employer in the US * 18th most respected company in the world as ranked by Barron’s * â€Å"AAA† credit-rated by Moody’s * The only standard & Poor’s AAA bank in the US * Among the top 50 companies as ranked by Diversity Retail Banker of the Year according to US Banker * Number-one commercial real estate lender * 18th among the world’s most valuable brands according to the Financial Times Wells Fargo tries to communicate to its customers, how much they are important for the company, saying that they are the center of everything they do. The mission is now to improve the quality of the services. Indeed, the company is, according to the CEO, Mr. Kovacevich, enough de veloped and enough big. The services are now provided with an easy access for the consumers.Now the direction to take is the quality provided: â€Å"We are a big company. We will continue to grow – not to become bigger but as a result of getting better†¦ Regardless of how big we are and how much territory we cover our team shares certain values that hold us together wherever we are and whatever we do†. Wells Fargo puts considerable emphasis on its culture in brand image toward the customers. It wants to be known as a financial partner, for outstanding services and sound financial advice, satisfying all of their financial needs and helping them to succeed financially.The company even considers its customers as friends. However, the company, does not only communicates to its customers but also with: * Its employees, telling them how much they are important for the company. Indeed, Wells Fargo wants to be known as a company that believes in its people as a competitiv e advantage over the competition, a great place to work, and as an employer of choice that really care about them * Its communities, promoting the economic advancement of each partners including those not yet able to be economically self-sufficient.Being seen as a community leader in economic development, in services that promotes economic self-sufficiency, education and social services is a necessity. * Its shareholders, insuring them that investing in Wells Fargo will be a great investment with financial results among the entire Fortune 500 and with the Moody’s credit-rated of â€Å"AAA† (the highest possible one) 2. Customer’s Analysis and Target Market The Wells Fargo’s target market gathers more than 25 million customers across the USA, and internationally.Demographically, the firm does not really have a specific target, and wants to provide financial services to all consumers who need either rich people or those who have financial difficulties. Geog raphically, the customers are divided up over 40 US states out of the 55. Mostly located in the metropolitan area, they are concentrated near the cost (both East and West). However, Wells Fargo, still provide its services in the less dense areas, where people need to have an access to a bank for community banking services.About buyer motivations and expectations, we noticed that customers are looking for efficient, reliable and adapted financial services and advice from the company. They expect good quality services and want from the bank the ability to meet their needs and expectations. Wherever they are, the consumers need to have an easy access to financial services in the bank office and in the Internet as well, where customers check their different bank accounts and transactions. Wells Fargo is specialized in different segments where it is one of the top companies, if it is not the top one.The most important segments are the homeowners, the small businesses, the agricultural bu sinesses, the debit card users and the prime home equity. In these segments, the company is performing very well, providing good quality services and good customer service which allow the company to constantly increase the customer loyalty, being able to keep its customers from the competitors. However, it does not mean that the others are abandoned. Wells Fargo really tries to emphasis that all customers are important, from the consumer banking over lending to the big institutional client. 3. SWOT MatrixThe SWOT Matrix is an important matching tool that us to develop four types of strategies for Wells Fargo: * The SO (Strengths-opportunities) strategies use a Wells Fargo’ internal strengths to take advantage of external opportunities. * The WO (Weaknesses-opportunities) strategies aim at improving internal weaknesses by taking advantages of external opportunities. * The ST (Strengths-threats) strategies use a Wells Fargo’s internal strengths to avoid or reduce the imp act of external threats. * The WT (Weaknesses-threats) strategies are defensive tactics directed at reducing internal weaknesses and avoiding external threatsStrengths 1. Brand Image and Culture and values (ethical behavior) 2. Credibility 3. Statistics based on the industry and the government sources show its size and strength 4. Acquisition of Wachovia: extension of the distribution channel and the number of customers 5. Decentralization strategy 6. Strong position in the markets involved in 7. Management: 8. Innovation leadership (Internet: E-commerce) 9. Market leadership in the West: the largest financial institution headquartered in the Western US that has a strong balance sheet and is able to steer through the pitfalls that plagued many of its competitors 10.The new products like the Wells Fargo Securities took from Wachovia securities business 11. Moody’s credit rate â€Å"Aaa† (the highest possible) Weaknesses 1. Decrease of the net income and ROA and ROE 2. L imited international presence 3. Bad reputation as a bank since the economic recession 4. Weakness asset quality among high real estate exposure 5. The Wachovia subprime mortgage problems 6. Overcommitted in credit default swaps 7. High amount of goodwill ($23 billion) Opportunities 1. Many banks are struggling like Citigroup with negative Operate margin (-57. 9%), Net income ($ -23. 9 Billion), and EPS (-3. 651) 2. Some Banks have recently failed and have been seized by Federal officials like Lehman Brothers Colonial Bank and Guaranty Financial group: Delinquency rates on their holdings has soared as high as 40% -> Decrease the competition 3. Grow internationally 4. Keep improving the internet uses 5. Develop new products for new businesses SO Strategies| WO Strategies| 1. Develop new internet applications and services for customers (S8, O4) 2. Increase promotions to attract more customers (S1, S2, O1, O2) 3. Open branches in foreign markets (S1, S3, O3) 4.Get closer to the custome rs needs and develop loyalty programs (S2, S5, O6)| 1. Advertising campaign to reassure the consumers (W3, O1, O6) 2. Open branches in foreign markets (W2, O3) 3. Develop alternative services to diversify the ranges and not focus and mortgages (W4, O5)| ST Strategies| WT Strategies| 1. Develop completive services and use competitive advantages to gain market share (S3, S5, T7) 2. Take advantage of the lack of regulation 3. Develop a strong customer loyalty database (S4, S5, S6, O7, O8)| 1. Develop alternative services to diversify the ranges and not focus and mortgages (W4, W1, T4) 2.Charging lower interest rates to the customers (W1, T1)| Threats 1. Continued deterioration in the housing and credit market 2. High unemployment rate 3. Tight credit 4. Many homeowners cannot make mortgage payments 5. The value of houses has dropped the amount borrowed -> great problem for owners and banks 6. The lack of regulation today has blurred the product and services bank offers 7. Competition w ith Bank of America and Citigroup 8. Superregional and International Banks are growing, they all tend to expand globally 9. Assurance rates increase 4. Industry and Competition analysisThe financial industry counted nine main players before the economic crisis in 2008, which meant height potential competitors for Wells Fargo including Bank of America, Citigroup, US Bancorp, Merrill Lynch, Morgan Stanly, Lehman Brothers, Colonial National and Guaranty Financial Group. The economic recession has eliminated the weak banks that were not doing well enough to overcome the outcomes of the economic crisis, like Lehman Brothers, Colonial Bank and Guaranty Financial Group. Furthermore, an economical selection has been made and only the best banks are still competing on this industry.The industry is currently suffering from the economic recession and all of its outcomes including the deterioration of the housing and credit market, high unemployment rate, and tight credit. That is why many bank s, especially the community banks, are struggling and some even have failed, including Colonial National, and Guaranty Financial Group. Moreover some Banks like Citigroup are not performing well by loosing money and market share. Guaranty had more than $3 billion of securities baked by adjustable-rate mortgages.The bank has seen the delinquency rates on holdings soared by 40% before the federal officials seized the bank in August 2009. As we can see from the chart, in term of revenue Wells Fargo is not the best financial service company. Until 2007; Citigroup was the leader in sales but the economic crisis and the recession that have followed this crisis has led to a sharp decrease of its sales. Since 2008, Bank of America is the leader in sales and the stronger competitor for Wells Fargo. However, its sales are fluctuating whereas the Wells Fargo’s sales show a slow but steady rise.This chart displays the evolution of the net income of the three main companies including Well s Fargo, Citigroup, and Bank of America. Wells Fargo was the last company in 2007 before the economic crisis in term of net income. However, we can see that the two competitors are not doing well enough to keep being competitive, especially Citigroup, which had a decrease of 210. 7%. All of the companies have seen its net income decreased but Wells Fargo has the slightest decrease which allow it the to have the highest net income in 2009 and shows by the way its capacity to overcome though situations. 5.Type of strategies Wells Fargo shows the desire to take part in the top financial companies in the domestic market. This is one element from their long-term strategies. This desire to compete with the market leaders such as Bank of America represent the results expected from pursuing certain strategies. According to this case, we can say that Wells Fargo is pursuing a market development and market penetration strategy, introducing present services into new geographic areas. This stra tegy, has particularly led to the acquisition of Wachovia and the extension of the Wells Fargo’s presence to the Eastern US.This market development strategy has required intensive effort for Wells Fargo in terms of investment and management. This strategy basically involves introducing present products or services into new geographical areas. Here by acquiring Wachovia, Wells Fargo can use a strong presence through the Wachovia’s distribution. The firm’s competitive position was clearly to improve compared to the market leaders. However, the company was rather successful at what it does before the acquisition, which was a primordial condition prior to such acquisition.Then but not least, it already had the needed capital and management quality to manage the expended operations. With this acquisition, the firm has a huge distribution capacity throughout all of the Wachovia’s bank offices and retail stores. Combined with the strategy of decentralization, th is will allow them to reach more consumers and increase the productivity. The year 2009 shows a quick preview about what the firm can achieve in the next years. The acquisitions or mergers are two commonly used ways to pursue strategies like market development or more generally intensive strategies including, market penetration and product development.The market penetration consists in increasing market share for present products or services in present markets through greater marketing efforts (increase number of salespersons, advertising expenditures, promotion, and publicity efforts). Then, the product development strategy seeks increase sales by improving or modifying existent products or services (it entails large research and development expenditures). A merger occurs when two organizations of about equal size unite to form one enterprise. That is what often happened in the Wells Fargo’s history and what helped the firm to grow faster and reach the size the firm had in 2 008.On the other hand, an acquisition occurs when a large organization like Wells Fargo purchases a smaller firm or a firm not doing well, like Wachovia. By acquiring Wachovia, Wells Fargo has realized some major benefits: * Provide improved capacity utilization * To gain access to new customers and products 6. SPACE Matrix The Strategic Position and Action Evaluation (SPACE) Matrix, is a marketing tool used to help the company to define the best strategy to develop according to its internal strategic position (Financial Position and Competitive Position) and the external strategic position (Stability Position and Industry Position).The four quadrants of the Matrix indicate whether aggressive, conservative, defensive, or competitive strategies are most appropriate according the characteristics of the company and its industry. Financial Position * The bank’s return on asset is 0. 44 (decrease of 72%) but superior of all competitors * The Bank’s Net income was 3. 58 Bill ion (increase of 28%) and superior of all competitors * The Bank’s revenue was 42. 84 Billion (increase of 1. 51%) compared to the industry average of 7. 98 Billion * The Bank’s earning per share 0. 912, over the main competitors and over the average industry (0. 91)Total| Rating465520|Industry Position * Deregulation provides geographic and service freedom * Deregulation increases competition in the banking industry * Economic recession * Growth potential * Financial Stability Total| 4213410| Stability Position * Banking deregulation has created instability throughout the industry * Less-developed countries are experiencing high inflation and political instability * The barriers to entry into the market is high * The competitive pressure is highTotal| -4-4-2-4-14| Competitive Position * The bank provides financial services through 6700 offices and retails stores in 40 states * Superregional banks, international banks are becoming increasingly competitive * The bank ha s a large customer base * Customer loyalty Total| -1-5-2-2-10|According to the SPACE Matrix, Wells Fargo presents an aggressive profile. The company is financially pretty strong, has some competitive advantages in a rather stable industry. The Wachovia acquisition is a great operation following the product development or market penetration strategy. 7. External Factor Evaluation Matrix (EFE) Regardless of the number of key opportunities and threats included in EFE Matrix, the highest possible total weighted score for an organization is 4. 0 and the lowest is 1. 0, and the average total weighted score is 2. 5. An organization with 4. 0 total weighted score is responding in an outstanding way to existing opportunities and threats in its industry.It means, the firm’s strategies effectively take advantage of existing opportunities and minimize the potential adverse effects of external threats. Key External Factors| Weight| Rating| Weighted Score| Opportunities: * Many banks are s truggling like Citigroup with negative Operate margin (-57. 9%), Net income ($ -23. 79 Billion), and EPS (-3. 651) * Some Banks have recently failed and have been seized by Federal officials like Lehman Brothers Colonial Bank and Guaranty Financial group: Delinquency rates on their holdings has soared as high as 40% * Grow internationallyKeep improving the internet uses * Develop new products for new businesses * New customers in the Eastern US financial market| 0. 090. 120. 050. 040. 070. 11| 342423| 0. 270. 480. 100. 160. 140. 3| Threats: * Continued deterioration in credit market * High unemployment rate * Tight credit * Many homeowners cannot make mortgage payments * The value of houses has dropped the amount borrowed * The lack of regulation today has blurred the product and services bank offers * Competition with Bank of America and Citigroup * Superregional and International Banks are growing, they all tend to expand globallyIncrease in insurance rates | 0. 100. 030. 070. 050 . 110. 060. 050. 030. 02| 222323423| 0. 200. 060. 140. 150. 220. 180. 200. 060. 06| Total | 1. 00| | 2. 80| Here we can note that the total weighted score is of 2. 80 is above the average of 2. 5, which means Wells Fargo is doing pretty well in the Financial industry, taking advantage of the external opportunities like the bad shape of the competitors and also containing the threats facing the firm like the competition with Bank of America. Of course, the firm could do better, improving its strategies to respond in better way to the threats and get a higher total weighted score close to 4. 0.According to the case, Wells Fargo should expand more its activities on the international market, and develop new financial products and services to be more attractive and competitive. Moreover, the firm must find solutions to overcome the bad state of the economy and its outcomes. 8. C. Internal Factor Evaluation Matrix This strategy-formulation tool summarizes and evaluates the major strengths and weaknesses in the functional areas of business. Like in the EFE Matrix, the total weighted score can range from a low of 1. 0 to a high of 4. 0 with an average score being 2. 5. Total weighted scores well below 2. 5 characterize organizations that are weak internationally whereas scores significantly above 2. 5 indicate a strong internal position. Key External Factors| Weight| Rating| Weighted Score|Strengths: * Brand Image and Culture and values (ethical behavior) * Credibility: Statistics based on the industry and the government sources show its size and strength * Acquisition of Wachovia: extend the distribution channel and the number of customers * Decentralization strategy * Management * Innovation leadership (Internet: E-commerce) * Market leadership in the West: the largest financial institution headquartered in the Western US that has a strong balance sheet and is able to steer through the pitfalls that plagued many of its competitors * Moody’s credit rate  "Aaa† (the highest possible)| 0. 070. 090. 110. 100. 060. 040. 090. 04| 44443343| 0. 280. 360. 440. 360. 180. 120. 360. 2|Weaknesses: * Decrease of the net income and ROA and ROE * Limited international presence * Bad reputation as a bank since the economic recession * Weakness asset quality among high real estate exposure * The Wachovia subprime mortgage problems * Wachovia is overcommitted in credit default swaps| 0. 080. 060. 080. 060. 070. 05| 212212| 0. 160. 060. 160. 120. 070. 10| Total | 1. 00| | 2. 89| The IFE Matrix provides important for strategy formulation. With a total weighted score of 2. 89, we can say Wells Fargo has a pretty strong position in the financial industry and can expect to become stronger and stronger because the firm knows how to create competitive advantages and how to use its strengths. 9.IE Matrix The IE Matrix is based on two key dimensions: the IFE total weighted scores on x-axis and the EFE weighted scores on the y-axis. The Internal External Matrix inputs are the EFE and IFE total weighted scores. As the EFE Matrix and the IFE Matrix have shown, Wells Fargo had 2. 89 for EFE and 2. 80 for IFE. In the IE Matrix, we can see the red dot represents Wells Fargo’s position on the Matrix. It is in the V cell, which suggests that Wells Fargo should use a hold and maintain strategy consisting of the Market Penetration and Product Development strategies; it should the most efficient strategy for the firm after the stage of the acquisition.However, the firm is very close to the cell I, II, and IV, which means the company’s situation can be descried as slow growth and build and where intensive strategies would be the most adaptable like market penetration and market development. 10. Grand strategy Mix The Grand strategy matrix is based on two evaluative dimensions: competition position and market growth. Wells Fargo is located in the Quadrant I of this Matrix, which means that it is in a rather excellent strategic po sition. Therefore, continued concentration on current markets (market penetration and market development) and products (product development) is an appropriate strategy. We can notice that a notable shift from its established competitive advantages would be unwise. Rapid Market Growth Quadrant I Quadrant II Strong Competitive Position Weak Competition Position Slow Market Growth Quadrant IV Quadrant III