State Bank of India Essay Example | Topics and Well Written Essays - 2000 words

State Bank of India - Essay Example In fact, after five years of deliberations, the chairman reflected bank’s achievements on the attribute of positive attitude regained by leadership thought. This opened up avenues through which the chairman shifted the focus to start aiming at being among the top twenty banks in the world. With such deliberations, the concern is on how the bank has been performing, what contributed to its advancements, the challenges it met along the journey, the opportunities available, its current weaknesses, and the potential it has in order to go to higher horizons. In light with this, the following section will evaluate on the current bank’s situation. This will give an insight and overview of the potential that the bank has in terms of advancing or deteriorating (Samuelson 1980). SBI profile: the primary internal and external influences on State Bank of India One theory that can be put into the context of explaining the primary internal and external influences on state bank is the ory of planed behavior. This theory can be applicable in explaining why, for example, people have a perception the SBI is a good bank. It takes several strategic measures for the internal management of the bank to put incentives that change the view of customers in relation to services offered by the bank. In order for employees to be able to perform well in their duties, they need to have a good attitude towards both the organisation and the customers. In essence, theory of planned behavior argues that, the attitude toward a behavior changes individual behavioral intentions (Ajzen 2007). In this regard, due to good employee incentives offered by the bank, employees are able to have a positive attitude towards the bank, something that results in top performance. In addition, organisation and management theory argues that organisations must understand both internal and external factors in order to succeed in their business. This can be analyzed to be the case in SBI. For example, on his reflection of the journey, in 2011, the chairman admitted that the bank has been the largest commercial bank in India. According to the chairman, this has been a journey full of transformations, which focused on changing its hierarchy, transaction orientation, customer focus, government ownership, and change of technological advancement, which has made it to be a universal bank. After Bhatt took over its leadership, he talked of transforming the leadership of SBI in order to propel it further. By 2010, SBI had doubled its profits and regained market share, something that led to the bank being awarded the ‘achievement award’ for the strongest bank in the Asian pacific region. In this regard, it is apparent that the change of leadership exhibited by Bhatt was very instrumental in taking the bank to new levels (Rust and Zahorik 1993). Therefore, analytically, it can be argued that apart from adopting all necessary technology and other strategies in business, leadership plays an indispensable role in development of any organisation (Yeung, Ging and Ennew 2002). By 2011, SBI was 43rd largest bank in the world taking a capitalization of over $ 36.5 billion in. By that time, SBI had more than 267,000 employees and with 18,000 branches and 25,000 ATMs. In this year, it made profits of $ 2.6 billion. However, the journey of SBI has been a long one since its establishment in 1806. Some years down the line, the bank was granted the right to issue currency; something updated it into the status of a presidency bank. At that time, the bank was partly owned by the government and part by private individuals. One of the parties that have had influence on

Structured essay on a comprehensive Marketing Plan to Promote YHA

Structured on a comprehensive Marketing Plan to Promote YHA Australia using UKs Back Packers as market target - Essay Example Cheaper flights and favourable exchange rates have encouraged the tremendous growth of this market with more than 400 000 backpackers expected to visit Australia in 2002. (Macbeth and Westerhausen, 2003) Backpackers hold special potential for regional Australia. Already, backpackers make up more than half of all international visitors and visitor nights in some parts of regional Australia. Their tendency to roam farther afield than other types of tourists is reflected in the fact that backpackers visited an average 10.6 regions in Australia during 1995-96, compared with 2.7 regions for all visitors. However although backpackers are visiting up to four times more of Australia than other types of tourists, large sections of regional Australia continue to be bypassed altogether The marketing strategy for backpacker tourism is composed of four strategies: promote 'quality' tourism based upon: maximizing income from tourism through a value-volume strategy (i.e. relatively lower growth in arrivals, but targeting higher-spending visitors); reducing seasonality; repositioning Australia's image as a destination, with greater emphasis on experiences linked to the island's environment and cultural heritage, marketing Australia's diverse population as a 'a mosaic of nature and culture, a whole, magical world concentrated in a small, warm and hospitable island in the Mediterranean at the crossroads of three continents, between West and East, that offers a multidimensional, high quality tourist experience. Tourism Australia has been active in this segment for a number of years, and is building on past experience to continue to develop it. Investing in this segment now will provide substantial returns in the future as the backpackers of today are likely to become the returning high-yield target markets of tomorrow. Backpackers area unique tourism segment. Their characteristics are as follows: there is an evident and strong social interaction among backpackers, the existence of backpacker enclaves, the relatively prolonged duration of most backpacker journeys compared to the conventional tourist trips), and the inviting traits of a classic anthropological subject, rites of passage. Parallel with the growth and expansion of the phenomenon itself, research into backpacker tourism has grown dramatically too, and a noteworthy share of that research has been conducted by means of ethnography, while a large share of the remainder display much influence from ethnographic methodology. The autho r has been part and parcel of this development as he, since 1990, in total has conducted more than two years of ethnographic fieldwork among backpackers and has published several papers on the ethnography of backpackers INTRODUCTION 'Travel and tourism is the largest industry in the world, accounting for 11.7 per cent of world GDP, 8 per cent of world export earnings, and 8 per cent of employment. This mobility affects almost everywhere, with the World Tourism Organization publishing tourism statistics for over 180 countries (WTO 2002). Almost no countries are not significant senders and receivers of visitors. Internationally there are over 700 million legal passenger arrivals each year (compared with 25 million in 1950) with a predicted 1 billion by