Situation Analysis/Target Market Identification Report and Collage free essay sample

09/08/2011 SITUATION ANALYSIS/TARGET MARKET IDENTIFICATION Curtin College Ms. Desiree Jones Trimester 2, 2011 Situation Analysis/Target Market Identification SITUATION ANALYSIS/TARGET MARKET IDENTIFICATION 1. 0 Situation Analysis/Current promoting Mix 1. 1 Current Product A rnott? s Tiny Teddy is a brand of sweet bread rolls which has youngsters matured between 3 †7 years of age as an essential center market (Ryan 2002). Every bread is little in size and shaped as a minuscule bear which children find â€Å"cute†. The advantages of purchasing such an item are, that it has no counterfeit hues, flavors or additives (Arnott? s 2009). Additionally, it has been demonstrated that in a suggested serve of 13 rolls, there is just not exactly a teaspoon of fat and under 2 teaspoon of sugar. Being a child? s nibble, minuscule teddy was assumed not to be sold at the school container, yet since it meets the â€Å"Amber† school bottle rules, this item is permitted to be sold without no limitations as it doesn't ruin the strength of children quickly (Choice Food For Kids 2007). Similar to a bite or a gathering time great, Arnott? s Tiny Teddy ought to be helpful to purchase. It ought to be effectively found on the racks of a store as purchasers will get it without much forethought or on uncommon events. The bundle of the item is exceptionally beautiful with highlights, for example, leaves, mushrooms, honey bees, ladybirds, 3 teddy bears †where every one speaks to a flavor; nectar, choc chips and chocolate (Arnott? s 2009). Individual seasoned scones are additionally accessible on the off chance that one wouldn't like to purchase the assortment pack. In one major sack of Tiny Teddy there are 10 little packs of treats. It relies upon the buyer? s steadfastness, if no Tiny Teddy is accessible at a store. In any case, despite the fact that, it appears as though guardians of children are steadfast in purchasing Arnott? s Tiny Teddy rather than different brands as they probably am aware the wellbeing factors that Arnott? take in thought in assembling the Tiny Teddy. The bundling of the item differs on the amount and different models accessible. Some are made of boxes and others of plastic (Arnott? s 2009) which makes the item advantageous to be arranged as a reusing material. 1. 2 Cu rrent Pricing T inny Teddy is item that is found in an extremely serious market as the Food nibble showcase has developed since the yester-year of „boiled lolly?. Buyer needs have changed accordingly making an effect on wellbeing factors for the most part. The cost of the item differs from store to store, which for the most part falls onto the scope of $ (AUD) 3. 50-$ (AUD) 5. 0 (OfficeMax 2011). Being in a serious market, a financial specialist will presume that in the event that the cost of Tiny Teddy rises, at that point the purchaser request of this item will diminish. Be that as it may, 3 SITUATION ANALYSIS/TARGET MARKET IDENTIFICATION there are different variables that can influence the interest of this specific great, and such are buyer devotion, comfort of procurement and nature of the item. All things considered the cost of Arnott? s Tiny Teddy is between $ 3. 00-$ 5. 00 (AUD) which marginally coordinates the cost of its rivals, for example, the Cadbury nibble sandwic h and Cadbury cookout chocolate bars (Great Aussie Food 2011). Everything depends on the shopper? s readiness to pay that a buy choice will be made. The buy choice procedure of every purchaser differs, in this manner a few buyers will get it based on the cost and others based on quality offered, picture and highlights. As per an exploration conveyed by the Campbell Arnott? s Asia Pacific Division indicated that the Arnott? s Brand, which incorporates Tim Tam, Sao and Tiny Teddy, has over 60% of the Australian Biscuit advertise and possesses over 95% of the Australian Household and is presently the main Australian roll maker (Campbell Arnott? APC Action Plan 2010). Therefore, this infers shoppers don't accepting that specific brand or its item, for example, the Tiny Teddy for this circumstance, based on cost however of value, highlights and friends picture. 1. 3 Current Distribution Being an accommodation decent or something bought because of drive, Tiny Teddy bread rolls are accessible in general stores, nearby staple goods, at the shops just as the school container. Instances of stores and staple goods are Coles, Woolworths, IGA, Food Works, Flemings, BI-LO, Action Supermarkets and so forth (Coles 2011). The item is additionally accessible at certain corner stores where really the offer of the great supposedly has a weight. Being an item adored by youngsters most stores and general stores have Tiny Teddy as a thing to be sold as the brand has a decent picture and quality is offered in purchasing the item, which are traits that pull in a possible purchaser. Metallic Teddy is found on the center upper to lower or upper racks of practically all food stores. This reasons organizations attempt to show the item to the most extreme to their crowd. 1. 4 Current Promotion A rnott? brand utilizes brilliant, melodic and quick advertisements to advance the Tiny Teddy rolls. The 2009 IGA/Arnott? s advancement comprised of purchasing 2 Arnott? s Tiny Teddy to enter a value withdrawal of $100, 000 (Lottos 2011). This advancement was affected in order to target guardians of children in purchasing the Arnott? s Tiny Teddy. Additionally, the 2010 various media advertisement was advancing the Tiny Tedd y hundreds and thousands (Youtube 2010). The 4 SITUATION ANALYSIS/TARGET MARKET IDENTIFICATION advertisement comprised of a gathering where children were moving and along were moving the 3 negligible teddies highlighted on the item bundling. One character of the Tiny Teddy dispersed the hundreds and thousands little snacks everywhere throughout the floor while opening when it was moving. The advertisement was hostage in hues, music and glad mind-sets. The message behind this promotion is that you, kids, can keep the celebrating or the moving state of mind between your companions and you as long as there is as yet small teddy snacks since it? s sure they will adore it. 2. 0 Segmentation 2. 1 Segmentation: Definition T he Australian market manages numerous purchasers who are not the same as one another. As buyer needs differs from individuals to individuals, at that point in fact every purchaser or potential customer is an individual market (Euromonitor International, 2010). Division isn't done by advertisers, yet it happens normally based on the likeness in the intrigue level of every individual client. All things considered advertisers use division as an apparatus in distinguishing each unique market. By and large, the gathering of clients and likely clients into littler and premium comparability bunches for a specific showcasing suggestion, is called division (Kotler et al. 008, 228). Division can be arranged into these classes; segment division, geographic division, psychographic division and social division. Segment Segmentation-It is the categorisation of a market in bunches dependent on age, sexual orientation, family size, family-cycle stage, pay and occupation (Kotler et al. 2008, 230). Geographic Segmentation-This is the division of a market into land units, for example, a reas, states, countries, districts and urban communities. For instance, compost maker Ocra from Australia sectioned the market for its yield security items into land units in order to all the more likely allot the correct item to the correct area at the perfect time (Kotler et al. 2008, 230) Psychographic Segmentation-This sort of division helps in assessing a market dependent on way of life, social class or character (Market division, 2011). 5 SITUATION ANALYSIS/TARGET MARKET IDENTIFICATION Behavioral Segmentation-It is the division of a market based on client? information on, perspectives towards, utilizations and reactions for the item (Market Segmentation, 2011). 2. 2 Advantages of Segmentation to Current Product D G emographic Segmentation †As expressed already, the segment division comprises of separating the market into gatherings old enough, sexual orientation, family size, familycycle stage, pay and occupation. This sort of division will empower advertisers of Tinny Teddy to all the more likely comprehend the market that reque st that specific item in Australia as far as their age gathering, where they can represent an image of precisely who to focus on, a such are kids and their folks. In addition, it will be simple again for advertisers to know the value their objective market are eager to pay basically just by classifying their market into weight of wages. Commercials will be simpler to make as advertisers will realize who to target demographically. eographic division †As it is perceptible that this sort of division is identified with geographic elements, it will be a favorable position to evaluate the topographical chances of the item as it will help them in choosing their objective market geologically as in certain nations, states or districts the purchasing conduct of a market changes. This will explicitly diagram where the item ought to be sold the most or least, which implies that the circulation of the item is composed and precise which gives the organization less concentrated into disseminating an inappropriate sum or an inappropriate item or model to an inappropriate locale, nation or state. Geographic division additionally helps in deciding the size of the focused on showcase, along these lines driving different branches of the firm into deciding the amount of item to be fabricated and its expenses and incomes. P ychographic Segmentation †The way of life, social class and character of the focused on crowd is resolved through this kind of division. It is significant for advertisers to know about variables as it will help them in the categorisation of their market. Ads will be focused on just to those individuals who imagine that their way of life, character and social class are reflected through the brand, classification of items and the item itself. Know ing the way of life, character attributes and social class of one? s focused on 6 Circumstance ANALYSIS/TARGET MARKET IDENTIFICATION crowd improves the manner in which the advertisement is p

Reflective Paper on Personal and Organizational Ethics an Example of the Topic Psychology Essays by

Intelligent Paper on Personal and Organizational Ethics Work places are supposed to be this present reality in the wake of accomplishing a specific degree in training. Individuals care for the vocations by which they can have the option to apply what they have gained from their past instruction and determinations. In the working existence of numerous individuals, there are conditions by which we experience others that may have alternate points of view than us. There can be clashes emerging because of the assorted variety of standards and social viewpoints that we are utilized to. With this, individual morals may come enthusiastically that will take care of or exacerbate the issue or trouble in the work place.Personal morals and qualities are significant for singular assessment. These are vital in the accomplishment of individual, authoritative and cultural objectives and mission. Crucial vision ought to likewise be available with the end goal for us to be steady by and by and expertly. This paper contains an investigation and assessment o f individual and expert morals and qualities. Need article test on Intelligent Paper on Personal and Organizational Ethics point? We will compose a custom article test explicitly for you Continue Individual Ethics, Mission and Vision Statement In his book, What Makes a Leader, Toler (2006) expressed that pioneers might not have all the responses to each and every issue that we may experience. He additionally included: Administration isnt about indicating individuals how lively, energetic, or enterprising you are. Its about increasing enough information and intelligence to move individuals and plans from lack of clarity to greatness. Pioneers are consistently on an expectation to absorb information. They know they havent showed up until theyve demonstrated another person by their model how to be as well as can be expected be. Making the best choice this is my controlling light in satisfying any undertaking. An antiquated proverb expresses that, If its value doing, its value doing right. I solidly accept that making the best decision is a higher priority than doing things right. Right philosophy without the correct thought processes is shallow, best case scenario and insidiousness even under the least favorable conditions. An individual who realizes how to interface intentions with techniques are the most qualified to be a pioneer. Assertion and appropriate help is a basic expertise that must be controlled by a pioneer or a director. Everybody has an inborn should be esteemed, perceived, or included. To be powerful in the satisfaction of any undertaking, it ought to be perceived that a gesture of congratulations has enough power to move a partner towards greatness. Vision is fundamental so as to get to an ideal end. We ought to have an eye, pointed at the skyline, yet in addition past it. The Holy Bible expresses that Without vision, individuals die. I accept that the norm ought to be set as a springboard for additional enhancements and advancements. Need is additionally a basic guide in any close to home endeavor. So as to be a viable individual, one ought to have the option to do the significant things first. Hence, one must have the expertise to separate undertakings and request them as per significance. I for one accept that having the option to choose which undertakings are genuinely critical to the accomplishment of an objective is fundamental in doing any close to home or expert duty. Cautious choice must be embraced and this is a significant characteristic of administration. Validity has its requirements. Also, being trustworthy enough is significant for any person with objectives and mission. Coming clean is a certain something, however being accepted is another. Also, believability is should have been accepted and trusted by others. Consistency is the way to be reliable and solid according to other people.Having extraordinary thoughts is acceptable, however making a move is fairly fundamental. Activities ought to be founded on the information on accessible assets. One should decline to submit if the reason has no conspicuous methods for help. Nobody will really confide in somebody who is narrow minded. A successful individual couldn't care less about the shrubs or the honors; he/she shows that sometimes observed temperance of lowliness. Placing the strategic ones own wants is foremost towards accomplishing regard. An individual with a little conscience is dealt with profoundly by others. An individual who wants to lead should realize how to assess their endeavors. One ought to have the option to tune in to reactions without complaining. For whatever length of time that the bearing is clear, reactions can just drive a compelling individual towards his/her targets at a quicker rate.Discipline and poise are my own supports. Work propensities must be set up when these attributes exist. These are forerunners of steadfastness, timeliness, consistency, and dependability. Order ought to never be an alternative yet a commitment. Any undertaking requires a consistent and supported exertion important to achieve a crucial arrive at an end. Associations Workplace Values My association has a positive arrangement of work environment code of morals I ought to stick to. My association expects me to perceive and rehearse demonstrable skill in any undertaking I perform. As indicated by Timmerhaus et al. (2004), in any expert action, experts are obliged to seek after their calling with the most elevated level of moral behaviour.Above whatever else, I accept that the publics wellbeing and government assistance ought to be the highest thought throughout execution of my obligation as an expert. Managers and customers ought to be constantly educated regarding the suggestions and results of my expert obligations, and guarantee that my expert obligations would not have any antagonistic impact to the wellbeing, security, and government assistance of general society. We ought to be responsible to the overall population for they are any companys bread and butter. The very motivation behind why there is any expert obligation is the presence of the overall population. We as experts should accept the general population as the essential thought in the endeavor of any expert errand, regardless of whether it is little or huge scale.I solidly accept that I ought to acknowledge duty regarding my activities and perceive different people groups commitments. Assuming full liability is basic for this is a significant check for responsibility. This will guarantee that I won't perform proficient errands pitifully. Also, similarly, I perceive different people groups commitments and I won't take different people groups merits. In any work I perform, I would endeavor to request different experts basic survey. I am not great, in this way, there is nothing amiss with looking for survey. This will assist me with improving my work as an expert, in this manner making me progressively qualified to perform bigger and additionally squeezing undertakings. At the point when different experts request that I do such, I would offer target analysis to their works. All announcements I issue and data I present would be limited by objectivity and honesty. Similarly as I might want to get remarks that are fair-minded and liberated from inclination, along these lines I would give proclamations limited by such premises too. In the best of my capacity, I carry out my responsibilities for my managers and customers in the most expert way, and I treat them as trustees. I plainly characterize my motivation and job as an expert, in order to stay away from irreconcilable situations. Irreconcilable circumstances ought to be kept away from in light of the fact that it would be adverse for the government assistance of the organization, yet in addition to people in general. Jobs and reason, when plainly characterized will make ready towards most extreme demonstrable skill and objectivity. I treat all my co-experts and associates fair-mindedly, remembering than every one of them have exceptional commitments and capacities. I am likewise interesting, and I have methods of my own. Furthermore, much the same as others, I look to be regarded. Consequently, I would likewise do likewise to my partners and colleagues. Any relationship, proficient or in any case work two ways.I perform proficient administrations just in regions of my fitness, with the goal that my customers, partners and people in general would not experience the ill effects of the outcomes of doing in any case. I am totally mindful of my expert abilities, and theres no chance that I will be giving remarks or proposals in fields I have next to zero information about. I would leave such cases to experts who know better. My notoriety for being an expert would be constructed uniquely on benefits of my administrations, this I perceive. In this way, I put forth a valiant effort in playing out any undertaking assigned to me. Proficient turn of events and trainings are fundamental for these will sharpen my abilities and add as far as anyone is concerned as an expert. Workshops, discussions and shows are significant in the development of an expert. All through my vocation, I will go to such trainings. Authoritative Aims and Social Responsibility Any association or organization has distinctive social duties and cultural objectives. Any assistance or item are being created and discharged in the market for benefit, yet in addition to arrive at an end, agreeing to guidelines holding wellbeing, security and government assistance of general society as the essential consideration.There are long haul and transient points. Among the drawn out point are the improvement of personal satisfaction and protecting harmony and request. These are requirements of accomplishing one world. Keeping up a situation helpful for learning and progress is another drawn out objective any association ought strive for. For instance, an organization has a job in creating pay for the administration through assessments. We realize where expenses go, and by and large, these are for the general administrations for the general population. Contributing towards a steady national economy would serve one of the most significant social duties an organization can satisfy. Guaranteeing people in general of value administrations and merchandise is another social duty. This is a method of giving the open whats because of people in general. Something else, the companys validity lies in the nature of the products and ventures it can render.Generating employments for individuals is likewise one significant authoritative point. Undoubtedly, it is the obligation of the legislature to have organizations that will provide food the requirement for not too bad occupations. P

Understanding the Business Competitive Environment

When planning another technique for the organization, a firm should completely break down the particular serious condition so as to concoct choices that are useful. An organization must consider even the minutest insights about the contenders to comprehend the components driving the accomplishment of the contenders. Bug investigation, SWOT examination and Michael Porter’s 5 powers investigation are a few different ways that build up a comprehension of the accomplishment of the contender firms (Porter, 1998). A few inquiries are given beneath which help the organizations to comprehend the significance of their skill and their tasks. . How solid is the group of the individuals at the contender firm? A firm should concentrate on their own group and work towards the misuse of ability of these individuals. The other firm may perform well due to their specialization in that field. In any case, at your organization you should make your group solid to increase a serious edge. 2. What are the practices (tasks) embraced by the contender firm? This causes the firm to accumulate information on the systems and techniques received by the contender firms. This information helps the organization in making its procedures proficient so as to remain ahead in the business and furthermore with the goal that the organizations practices can turn into a benchmark. (Withrow, 2006). 3. What markets or market portions your rivals serve? This inquiry helps the firm in understanding the business sectors that are being provided food and the business sectors that can be tapped. In the event that the organization centers around itself, it can catch the market of its rivals and make a dedicated client base for itself (Withrow, 2006). 4. What are the competitor’s items/administrations costs and advancement procedure? This aides in increasing a knowledge about the methodologies that the organizations receive so as to catch the market. The firm should concentrate on improving its procedures of cost slicing and embracing to the mechanical changes so it can stay in front of the opposition. (Ward, n. d. ) 5. Why clients purchase from your rivals? The response to this inquiry tells about the additional worth that clients get because of utilizing the contender items. The firm should concentrate on offering best types of assistance to the clients with the goal that they stay steadfast.

Diction in Disillusionment of Ten O Clock :: Ten O Clock Essays

Style in Disillusionment of Ten O' Clockâ â â â â â â â â Â What do you long for? Do you fantasy about energizing undertakings and consider brilliant universes? Wallace Stevens asserts that mariners are the ones dispersed all through society who long for these things. The creator suggests this is his message through indication, implication, and his utilization of negative versus positive word usage. Â The indication in Stevens' sonnet shows his exhaustion of society's dull way to deal with life. At the point when he starts discussing how, The houses are spooky by white night-outfits. None are green, or purple with green rings, he's whining about how individuals in the public arena long for ordinary un-inventive things. Be that as it may, to dream of primates and periwinkles, is the thing that we ought to endeavor to dream of. These things are what the strays, similar to a mariner, long for. He utilizes the mariner picture to pass on the person in the public eye who doesn't carry on with the typical life. He could have supplanted this picture with various different names alluding to a non-conventional way of life, however just picked the mariner to speak to those distinctive individuals dissipated all through the group who, under all the generalizations, truly are brimming with good thoughts and hold what might contribute a lot to the ordinary, white night-outfits, picture of socie ty. Â All through Stevens' sonnet, he utilizes implication to express what is on his mind to the peruser. At the point when he talks about individuals, With socks of ribbon and beaded ceintures, he is portraying the physical appearance of ordinary, dull, individuals of society who are the ones who fantasy about exhausting, highly contrasting pictures. He stands out this from the mariner's decrepit appearance, tipsy and sleeping in his boots, yet additionally longing for getting, tigers in red climate. This balance sends his message with a solid, clear impression to the peruser. He covers his feeling on the outward and internal appearance of the two jobs in the public eye, demonstrating his point that the untouchable individuals from a network are the ones who really are carrying on with the vivid, improved way of life. Â By utilizing both negative and positive words, Stevens can make the differentiation between the two clashing jobs in the public arena indeed. At the point when the creator clarifies how, none of them [the standard individuals in society] are abnormal, with socks of ribbon and beaded ceintures, he is utilizing the word weird as an adverse method to depict the adjusting individuals on the planet.

Annapolis

Annapolis Annapolis ?nap ´?lis [key], city (1990 pop. 33,187), state capital and seat of Anne Arundel co., central Md., on the south bank of the Severn River. Annapolis is a port of entry on Chesapeake Bay and the business and shipping center for the fruit and vegetable farmers of E Maryland. Local industries include the packaging of seafood and the manufacture of small boats, plastics, and aerospace parts. Tourists, some of whom sail on the Chesapeake, are also important to the economy; the city hosts the annual national sailboat show. Annapolis was settled in 1649 by Puritans fleeing Virginia. Hostility between the Puritans and the Roman Catholic governors of Maryland resulted in the battle of the Severn River in 1655, in which the Puritans successfully revolted, only to lose control after the Restoration in England. The settlement, originally called Providence, was later known as Anne Arundel Town, after the wife of the 2d Lord Baltimore. In 1694 it became the provincial capital of Mary land and was renamed Annapolis for Princess (later Queen) Anne of England. In 1783â€"84, Annapolis served as the capital of the United States when the Congress met there. The city was the site of the Annapolis Convention (1786), which led to the Federal Constitutional Convention . Still standing is the statehouse where George Washington resigned as commander in chief of the Continental Army in 1783 and where the treaty that ended the Revolutionary War was ratified in 1784 (see Paris, Treaty of ). Other notable landmarks are the Old Treasury (c.1695), the oldest original building in Maryland; the library (1737); St. John's College; and St. Anne's Church (1858â€"59) and graveyard, where the former royal governor of Annapolis Sir Robert Eden (an ancestor of Anthony Eden ) is buried. Much 18th-century architecture is preserved in the city. Annapolis is the site of the United States Naval Academy, founded in 1845. See J. W. McWilliams, Annapolis, City on the Severn: A History ( 2011). The Columbia Electronic Encyclopedia, 6th ed. Copyright © 2012, Columbia University Press. All rights reserved. See more Encyclopedia articles on: U.S. Political Geography

Analysis On The Bank Performance Of Nigerian Banks - Free Essay Example

The provisional title of this research project work is: à ¢Ã¢â€š ¬Ã…“Consolidation and bank performance; an analysis of Nigerian banksà ¢Ã¢â€š ¬?. The choice of this topic emanates from the fact that the magnitude of banksà ¢Ã¢â€š ¬Ã¢â€ž ¢ inability to meet up their obligation in the nationà ¢Ã¢â€š ¬Ã¢â€ž ¢s banking industry has became an issue of concern to both the government, regulatory authorities, the banks as well as the general public. There is therefore need to ensure that the withdrawal need of customers, the shareholders smooth return objective as well as the banking need for the nationà ¢Ã¢â€š ¬Ã¢â€ž ¢s economic growth is met. It is against this background that this research project work is being proposed. The provisional title of this research project is: à ¢Ã¢â€š ¬Ã…“Consolidation and bank performance; analysis of Nigerian Banks 2004 to 2006à ¢Ã¢â€š ¬?. The choice of this topic emanates from the fact that the current credit crisis and the transatlantic mortgage financial turmoil have questioned the effectiveness of bank consolidation programme as a remedy for financial stability and monetary policy in correcting the defects in the financial sector for sustainable development. Many banks consolidation had taken place in Europe, America and Asia in the last two decades without any solutions in sight to bank failures and crisis. The paper attempts to examine the performances of government induced banks consolidation and macro-economic performance in Nigeria in pre-consolidation and post-consolidation period. The paper analyses published audited accounts of two (2) out of twenty-five (25) banks that emerged from the consolidation exercise and data from the Central Banks of Nigeria (CBN). We denote year 2004 as the pre-consolidation and 2005 and 2006 as post-consolidation periods for our analysis. In doing this, efforts would be made to examine empirically how bank consolidation through recapitalization has affected the performance of Nigerian banks during the period covered by the research. The data for the work are from secondary sources and would be obtained exclusively from the Central Bank of Nigeria and bank publications, both electronic and paper form. CAMEL analysis will be employed to analyse the financial data so as to ascertain the relationship between consolidation and bank performance. The CAMEL analysis is chosen because of its optimal properties, simple computational procedures and is suitable for an empirical work such as the present research project work. Against the findings that would emerge from the intended empirical investigation of this work, appropriate recommendations that are likely to better enhance the effectiveness of banking sector reforms in Nigeria thereby restoring confidence in the system. CHAPTER 1 1.1 Introduction The Nigerian banking sector over the past 20 to 25 years has experienced boom and bust in a cyclical pattern. After the implementation of the structural adjustment program (SAP) in 1986 and the deregulation of the financial sector, new banks proliferated, mainly driven by attractive arbitrage opportunities in the foreign exchange market (Heiko 2007). Prior to the deregulated period, financial intermediation never took off and even declined in 1980s and 1990s (Capirio and Kligbiel 2003). The sector was highly oligopolistic with remarkable features of market concentration and leadership. Lemo (2005) noted that there are ten Nigerian banks that control more than 50% of the aggregate assets of the banking sector; more than 51% of the aggregate deposit liabilities and more than 45% of the aggregate credits. The sector was characterized by small sized banks with high overheads; low capital base averaging less than $10million; heavy reliance on government patronage and loss making. Nigeriaà ¢Ã¢â€š ¬Ã¢â€ž ¢s banking sector was still characterized by a high degree of fragmentation and low levels of financial intermediation up until 2004. In the light of the foregoing, banks are compelled by the Central Bank of Nigeria to raise their capital base from N2 billion to 25 billion on or before 31st December, 2005. Most banks resorted to mergers and acquisition as a survival strategy, which saw a reduction in the number of banks from 89 to 25. This study contributes to the concept of bank recapitalization by critically examining the impact of bank consolidation on the performance of banks using a sample of randomly selected Nigerian banks. It is the intention of the researcher to give more validity to empirical evidence that have been obtained by previous researchers on the subject matter. Relevance of the study The earliest set of studies evaluates the effects of bank consolidation through mergers and acquisitions comparing pre- and post- merger performance by measuring performance using either accounting or productive efficiency indicators.The results from both indicators have varied and at sometimes been contradictory. This can be explained by performance-influencing variables like size, brand name, diversification and cost reduction, there is still no reconciliation between these indicators. I intend to contribute to the determinants of bank performance by evaluating the possible performance impact of bank consolidation on banks. Consolidation is the key to improving the performance of banks with low capital base, without which they are bound to fail. 1.3 Background of study Aside being the highest contributor to the market capitalization of the Nigerian stock exchange and smooth and stable income provision to money and capital market, banking industry is capable of attracting potential investor which is a source of every economic development. Financial institutions generally, and banking sector in particular play a crucial role in the development process of mobilizing fund from the surplus sector of the economy to the deficit sectors of the economy. Banks help in increasing the quantum of national savings and investment. Consequently, the volume of goods and services produced in the economy increases overtime through the multiplier effect. Banks enhance stable and smooth income to attract potential investors in line with Modigliani and Miller (1958) theory that investors generally have preference for smooth and stable income. According to sloan and Arlond (1970) consolidation is a fusion of the assets and liabilities, in whole or in part of two or more business establishment. Consolidation represents the idea of investment and the coming together of firms; it can also mean larger sizes, larger shareholder bases and larger number of depositors. According to Adamu (2005) bank or corporate consolidation could be achieved by way of mergers/acquisition and recapitalization. It is more than mere shrinking of number of banks in any banking industry. According to Hall (1999) consolidation is a global phenomenon, which started in the advanced economies of the world. For example, the enactment of Riegle-Neal Act, which allows interstate branch banking beginning from 1997 this led to increase in bank mergers in the USA (Akhavin et al and kwan 2004). Consolidation allow a mega bank to enjoy higher profit, increase revenue and low problem loans. Japanese banking industry also experienced consolidation in the 1990s which resulted to economies of scale (Fukuyama, 1993; Mckillop et al 1996). When banks go bust, their capital base is called to question. Cases of bank failures have motivated researchers to investigate the activities of banks in relation to performance in terms of returns. A view is that consolidation has increased the capital base and size of Nigerian banks but does not necessarily bring about higher performance. Criteria Selecting Nigeria Study Consolidation is a term used by the central bank of Nigeria (CBN) to describe the coming together of some banks within the country to become one bank and be able to meet CBNà ¢Ã¢â€š ¬Ã¢â€ž ¢s requirement for capitalization to a minimum of N25billion. When this happens, it is expected to improve services rendered by the banks. In July 6, 2004, a day now referred to as à ¢Ã¢â€š ¬Ã…“black Tuesday in banking sector of the economy, the CBN Governor, professor Charles Soludo made an obviously unexpected policy pronouncement. The highlight was the increment of the earlier N2billion to N25 billion, with full compliance deadline fixed for the end of the year 2005. In a bid for banks to meet up with the new requirement, some Banks are exploring the option of inviting foreign investors to buy into Banks. Others are looking at the possibility of getting investors to shore up their capital, and some are looking at the capital market option, while others are considering mergers and acquisition. If the process of consolidation is properly implemented the ongoing consolidation of banks in the country will surely improve the banking sector in Nigeria and translate to better banking services and cheap funds.   More importantly, the public will not have fear of distress in any bank, since the consolidated bank will have enough funds. The need to understand the impact of bank consolidation on Nigerian banks either negative or positive necessitated the use of Nigerian banks as sample for this study. 1.5 Aim To analyze the effect of consolidation on the performance of Nigerian Banks 1.6 Objectives To examine the consolidation process of Nigerian banks. To Asses the performance of Nigerian banks before and after consolidation. To evaluate the impact of consolidation on Nigerian banks. CHAPTER 2: Literature Review 2.1 Introduction This chapter attempts to gain an in-depth view into what is already known in connection with the research topic being studied. It therefore brings to light the different theoretical and methodological approach to the research area, helps develop a practical analytical framework, considers inclusion of variables that may not have been thought about from the inception of the research work and in the long run learning can be gained from mistakes of previous researchers and avoidance of such mistakes would be achieved (Bryman Bell, 2003). The scope of the research is narrowed down through successful study of literature review that was continuous all through the research process. Further, the review of literature will incorporate a wide range of materials sourced from journal articles, corporate websites, government websites, multilateral organisations, text books and online databases which include: Wiley, Science Direct, Emerald and Business Source Premier. Reforms are predicated upon the need for reorientation and repositioning of an existing status quo in order to attain an effective and efficient state. There could be fundamental bottle-neck that may inhibit the functioning of the institutions for growth and the achievement of core objectives in the drive towards enhancing and sustaining the economic and social imperatives of human endeavor. Carried out through either government institutions or private enterprises, reform becomes inevitable in the light of the global dynamic exigencies and emerging landscape. Consequently, the banking sector, as an important sector in the financial landscape, needs to be reformed in order to enhance its competitiveness and capacity to play a fundamental role of financing investment. Many literature indicates that banking sector reforms are propelled by the need to deepen the financial sector and reposition for growth, to become integrated into the global financial architecture; and involve a banking sector that is consulting with regional integration requirements and international best practices. The nexus between consolidation and financial sector stability and growth is explained by two polar views. Proponents of consolidation opined that increase size could potentially increase bank returns, through revenue and cost efficiency gains. It may also, reduce industry risks through the eliminations of weak banks and create better diversification opportunities. On the other hand, it is argued that consolidation could increase banksà ¢Ã¢â€š ¬Ã¢â€ž ¢ propensity towards risk taking through increases in leverage and off-balance sheet operations. Advocates Furlong (1994) stated that an early view of consolidation in banking was that it makes banking more cost efficient because larger banks can eliminate excess capacity in areas like data processing, marketing, or overlapping branch networks. Cost efficiency also could increase if more efficient banks acquired less efficient ones. Though studies on efficiency in banking raised doubts about the extent of overcapacity, they did point to considerable potential for improvement in cost efficiency through mergers. Banking reforms involves several elements that are unique to each country based on historical economic and institutional imperatives, for example, in Hungary. Evidence show that the reform in the banking sector was due to high under-capitalization of state owned banks, weakness in the regulation and supervision and deficiencies in corporate governance behavior of banks. Craig and Hardee (2004) conducted investigation on bank consolidation and concluded that as the banking consolidation continues, relationship lending is becoming increasingly rare. As credit scoring and formal, formulaic methods are used more and more, specifically by the large banks, many small businesses may find out that they do not fit the model, especially those enterprises with negative equity. Thus, small businesses may be filling the financing void that is being created by the bank consolidation with non-bank sources of funds. Hughes and Mester (1997) provide evidence to suggest that there are scale economics in banking, bank managers are risk averse, and banks use the level of their financial capital to signal the level of risk. This is an area of interest in Nigerian banking, especially when the return on equity is calculated in another two to three years and then compared with the historical industry average. Rhoades(1996) reported that American banks consolidated in response to the removal of restriction on bank branching across states, while Hughes, J.P; W. Lang; L.J. Mester; C.G. Moon(1998) concluded that the economic benefits of consolidation are strongest for those banks that engaged in interested expansion, and in particular the expansion that diversifies macroeconomic risk. From the literature, it has been observed that well-spaced and implemented financial reforms have the ability to boost financial development indicators. Detractors Hughes J.P; Mester, L.J; and Moon, C.G (2000) also provide evidence that scale economies exist in banking but they fail to account for risk. Thus, scale economies that result from consolidation and diversification do not produce better performance in banking, unless choice makes the bankà ¢Ã¢â€š ¬Ã¢â€ž ¢s management more conscious risk and moderates its decisions and actions appropriate larger scale of operation that leads to diversification only reduce liquidity and credit risk under the ceteris bus assumption, and they argued that this is not always the case. The examination of merger and acquisition in European banking and found that industry consolidation was beneficial (by providing social benefits) in the first economic integration stages, but could damage welfare in the more advanced stages as the few big banks safeguard price agreements to forestall foreign competition. The other side to European mergers and acquisitions was because of the possibility of failure. This, of course, ignores the fact that no bank can ever be too big to fail. All it takes for a bank to fail is for à ¢Ã¢â€š ¬Ã…“bad newsà ¢Ã¢â€š ¬? about a bank to get to its stakeholders (especially depositors) and they all walk in at the same time to take their funds! For such bank to survive, it must have sufficient liquid assets to meet all maturing and long-dated obligations (Igangiya, 2006). 2.2 Role of banks In the Economy Banks have an important role to play in an economy, as they are intermediaries between people with shortages and surpluses of capital. The products they offer will include savings, lending, investment, mediation and advice, payments, ownership, guarantee and, trust of real estate. (Bouma et al, 2001). This aspect is critical to this research study as the role of banks in any economy cannot be undermined therefore, the need to explore the effectiveness of their actions and how this ultimately affects the economy. The macroeconomic environment within which firms exist and, operate has an impact upon their activities and governments and other agencies operating at different spatial levels and it can shape behavior and their environment. (Worthington et al, 2001). According to Bouma et al, (2001), as a financial intermediary between market players, a bank has four important functions: First it transforms money by scale. The money surpluses of one person are mostly not the same as the shortages of another person. Banks transform money by duration. Creditors may have short-term surpluses of money, while debtors mostly have a long-term need for money. Banks transform money by spatial location (place). Finally, banks act as assessors of risk. As a rule, banks are better equipped to value the risks of various investments than individual investors who have surpluses available. Also, through their larger scale, banks are more able to spread risks. The major objectives of the banking system are to ensure price stability and facilitate rapid economic development; regrettably, these objectives are still yet to be realised in Nigeria as a result of some infrastructural deficiencies such as basic power, energy, and transportation. Also, the lack of a workable contingency planning framework which provides detailed policy actions to limit crises. The reforms of the banking industry will have an influence on the functions, as it ultimately shapes the way they handle their operations. The reform of recapitalisation and consolidation could mean a larger platform for banks to better carry out their tasks. This literature review takes a look at commercial banks in Nigeria when faced with the reformation of the banking industry, core competences needed by the banks to be successful and the effect on the macroeconomic indicators of the country. 2.3 The concept of capital base The recent call for recapitalization in the banking industry has raised much argument among the bank regulators, promoters and depositors as if shoring up of banks capital base is a new phenomenon in Nigeria. Historically, the failure of pioneer 1930s and 1940s brought about the enactment of banking ordinance of 1952. Banking ordinance of 1952 prescribed an operating license and emphasized on minimum equity capital for all banks (Omoh, 2007). Since then, raising of bank capital has become the hallmark response policy of the Nigerian monetary authorities. Capitalization is an important component of reforms in the banking industry, owing to the fact that a bank with a strong capital base has the ability to absorb losses arising from non-performing liabilities (NPL). Attaining capitalization requirement is achieved through consolidation, convergence as well as the capital market. Thus, banking reforms are primarily driven by the need to achieve the objectives of consolidation, competition and convergence. (Deccan Herald,2004), in the financial architecture. 2.4 The Concept of Bank Consolidation Consolidation is viewed as the reduction in the number of banks and other deposit taking institution with a simultaneous increase in the size and concentration of the consolidation entities in the sector (BIS, 2001:2). It is mostly motivated by technology innovation, deregulation of financial services, enhancing intermediation and increased emphasis on shareholder value, privatization and international competition (Berger et al, 1991). The process of consolidation has been argued to enhance bank efficiency through cost reduction and revenue in the long run. It also reduces industrys risk by eliminating weaker banks and acquiring the smaller ones by bigger and stronger banks as well as creates opportunities for greater diversification and financial intermediation. The pattern of banking system consolidation could be viewed in two different perspectives, namely; market-driven and government-led consolidation. The market-driven consolidation which is more pronounced in the developed countries sees consolidation as a way of broadening competitiveness with added comparative advantage in the global context and eliminating excess capacity more efficiently than bankruptcy or other means of exit. On the other hand, government-led consolidation stems from the need to resolve problem of financial distress in order to avoid systematic crises as well as to restrict inefficient banks (Ajayi, 2005). One of the general effects of consolidation is to the reduction in the number of players, moving the industry more toward an oligopolistic market (Adedipe, 2007). 2.5 Prospect of Bank consolidation In Nigeria The initial public offering by banks through the capital market when completed is likely to increase the level of financial deepening as evidenced in the upsurge in the volume and value of trading in stock market. The reform in the banking industry has been able to attract more foreign investment inflow, especially in the area of portfolio investment; this development if sustained will boost the level of economic activity especially toward non oil sector. The consolidation of banks is likely to attract a significant level of foreign banks entrance into Nigeria which will become a feature in the industry over time. This will bring about more confidence by the international community of the banking sector thereby attracting more foreign investment into the country. As the level of financial intermediation increase, interest rate is likely to fall and increase lending to the real sector that will generate employment and booster growth. 2.6 The Process of Bank consolidation In Nigeria Before any bank can be said to consolidate through merger and acquisition in the Nigeria industry, it must first seek and obtain the approval of the following regulatory and supervisory authorities in the industry. They include the Securities and Exchange Commission (SEC), Central Bank of Nigeria (CBN), Nigeria Stock Exchange (NSE) and the Corporate Affairs Commission (CAC) (CBN, 2004). Chapter 3: Research Methodology Introduction This chapter sets out the method employed in conducting the research. The choice of method was made based on the nature of the research problem. The purpose of this research is to discover, if any, the impact of bank consolidation on bank performance. Effort would be made to ensure that the methodology and conceptual framework adopted in the research are as relevant to the findings as the concepts and theories of the study. This is because the validity and reliability of conclusions are largely influenced by the research process itself. 3.2 Research Design This study is a causal or explanatory analysis since it seeks answers to questions related to the causes and determinants of bank performance. The research adopts a deductive approach. It outlines theories of director relationship to firm performance and draws hypothesis from them. These hypotheses are then tested using empirical social data to either confirm or reject the contentions. 3.3 Quantitative Versus Qualitative Data A clear distinction must be emphasized between quantitative and qualitative data. The former is concerned with the compilation of the results of research in a standardised mathematical form with the analysis conducted by means of statistics. (Saunders et al, 2003, p.378). Here variables are measured on a selection of scales and can then be arranged in order of arithmetical rigour. Conversely qualitative research is subjective in its approach of examining and reflecting on perceptions of understanding social and human activities (Hussey and Hussey, 1997). Qualitative research is inductive and researchers rarely know the specifics of data analysis when they begin a project (Neuman, 2006). It is concerned with the assemblage of data in a non-standardised, descriptive form, with the examination conducted through the use of theoretical models. 3.4 Data Type Raw or summarized data which has already been collected and stored for other purposes aside from that of the research in question is referred to as secondary data (Saunders et al, 2007). This research will make use of multiple-source secondary data collected from bank financial reports and CBN statistical publications available on the CBN, Guaranty trust and zenith banks websites, some paper source of data will also be used. The data/study will be restricted between the period of 2004 and 2006. The year 2004 is the pre-consolidation, 2005 consolidation while 2006 is the post-consolidation periods. The choice of data type is based on accessibility, cost saving and authenticity factors. Sample Selection The representative sample of the Nigerian banking sector to be used as a sample of the population under study is Guaranty Trust Bank PLC and Zenith Bank PLC. CAMEL ANALYSIS CAMEL is derived from the five components of a bankà ¢Ã¢â€š ¬Ã¢â€ž ¢s condition which include Capital adequacy, Asset quality, Management, Earnings, and Liquidity. Ratings are assigned for each component, and a composite rating is assigned for the overall condition and performance of the bank. These component and composite ratings are assigned on a scale of 1 to 5, with 1 representing the highest rating (strongest performance) and 5 representing the lowest (weakest performance) (Hirtle and Lopez, 1999). The camel analysis will be used to analyse the performance of banks during the pre-consolidation (2004) and the post-consolidation (2006) periods. Limitation The major difficulty that is likely to be encountered during the course of carrying out this research is the dearth of information, which is usually associated with emerging economies (including the Nigerian economy). Deliberate efforts would therefore be made to obtain information necessary to enhance the quality of the present research. 4.0 CONCLUSION In summary, the research tries to establish that bank consolidation helps in shoring up investment capital, enhances shareholder value, and protects creditors and depositors as well as strengthening banks capacities to attract funds at lower costs enhancing their liquidity positions. An efficient banking system tends to be one of the greatest focuses of the Central Bank of Nigeria since its establishment in 1959. Thus, sufficient capital base has largely constituted the Bankà ¢Ã¢â€š ¬Ã¢â€ž ¢s reform policy focus over the years. Hence, it may not be out of place to conclude at this material time that the ongoing reform policy is essential for the attainment of overall macroeconomic stability on a sustainable basis. Accordingly, the Central Bank of Nigeria is admonished to intensify its present efforts geared towards restoration of confidence in the banking system. The research work analyses published audited accounts of two (2) out of twenty-five (25) banks that emerged from the consolidation exercise and data from the Central Banks of Nigeria (CBN). We denote year 2004 as the pre-consolidation and 2005 and 2006 as post-consolidation periods for our analysis. In doing this, efforts would be made to examine empirically how bank consolidation through recapitalization has affected the performance of Nigerian banks during the period covered by the research. The data for the work are from secondary sources and would be obtained exclusively from the Central Bank of Nigeria and bank publications, both electronic and paper form. CAMEL analysis will be employed to analyse the financial data so as to ascertain the relationship between consolidation and bank performance BIBLIOGRAPHY Bernerd, B.P., (2006), The effect of recent changes in the financial sector development in Nigerian, Paper presented at the 15th General Assembly of the African rural and agricultural credit association (AFRACA), Bukina Faso. CBN., (2004), Guidelines and Incentive on Consolidation in consolidating Banking Industry. Charles, C.S. (2004) Consolidating the Nigerian Banking Industry to Meet the Developmental challenges of the 21st century. Paper presented at a meeting of bankers committee Abuja 6 July 2004. Larry, U; et al., (2004) Issues in Financial Institutions Surveillance in Nigeria. A seminar paper by CBN training centre Lagos. Eshodaghor, D.V., (2006), Impact of distressed banks in depressed Economy, Prospects for survival and growth. Bank failure in Nigeria, causes and dimension pp. 17 à ¢Ã¢â€š ¬Ã¢â‚¬Å" 22. Ezeudusi, F. U., (2002) Marcus, G., (2003), An approach to the consolidation of Banks Merger Issues by regulators., A south African case business paper (4), NDIC Annual Report and Statement of Account . Oviemuno, A.O., (2006) Banking Consolidation in Nigeria and the strategies for Generating better returns. Ogunleye G.A. (2003) The regulatory imperatives of the Universal Banking concept in Nigerian NDIC quarterly, (11) No. (2), pp.20-30 Ochojele, D. I., (2003) The Nigerian banking industry, a review seminar paper. Osaije, E., (1992), Structural adjustment programme in Nigerian economy Victor, Ezeaku., (2003), Consolidation of Nigerian Banking Sector, CBN publication.

Freudian Psychology Lord Of The Flies - 1896 Words

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