How can companies use 'social networks' to maximise their competitive Dissertation

How can companies use 'social networks' to maximise their competitive advantage - Dissertation Example Business competitive leveraging is just within a finger tips. The advent of information technology and the thriving of cyberspace communities within social networks made it easy to exchange goods with customer around the world or within the domestic market. Corporations and companies are now accessible in this era where everyone lurked within the information superhighway. But while business analysts and organizations see these as infinite opportunities, there remain a necessity for all web-based organizations to develop its internal policy on Information Management System to ensure that while its undergoing business competitive leveraging, it’s still able to maintain and respect internal policies, rules, and secrecy of corporate information, such as, the fiduciary relation with clients or customers and those internal corporate trade policies (Khan & Blair, 2004, pp.1-241; Badaracco ,1991, pp. 6-10).  Some tips on how to preserve corporate integrity in this information and so cial network era are recommended by the researcher too. Table of Contents I. Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 4 a. Aims †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 4 b. Methodology†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 4 II. ... 11 d. Social media: Bases for business decision-making†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 13 e. Conclusion and Recommendations†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...16 Introduction The use of social network for business leveraging is currently an essential value in business management. The advancement of information technology and development of software for web-based collaboration has turned data management as a strategic asset that is imperative as knowledge-economy becomes a trend of the decade’s economic paradigm. This paper aims to explore and discuss the significance of social network use for business leveraging. In delving into this topic, the researcher will answer the question how companies use social networks to maximize their competitive advantage? The researcher will use a qualitative method in exploring and explicating the topic. This method seeks to explore a phenom enon using flexible iterative style of generating responses to questions through semi structured in-depth interviews, focus group discussions and observation to describe and explain relationships and experiences of a group (Cassell & Symon, 1994, pp 10-25; Cassell & Symon, 2004, pp. 1-4; Creswell, 2003, pp. 4-6; Easterby-Smith, Thorpe, & Lowe, 2002, pp. 10; Fischer, 2007, Mayon-White, 2004, p. 28; Neuman, 2006, pp. 12-15; Polonsky & Waller, 2005, pp. 10). It’s an open ended research type and most of evidences are textual sourced from secondary and primary sources (Cassell & Symon, 1994, pp 10-25; Cassell & Symon, 2004, pp. 1-4; Creswell, 2003, pp. 4-6; Easterby-Smith, Thorpe, & Lowe, 2002, pp. 10; Fischer, 2007, Mayon-White, 2004, p. 28; Neuman, 2006, pp. 12-15; Polonsky & Waller, 2005, pp. 10). Ethical considerations in the conduct of this study are seriously noted in

Reading summaries Assignment Example | Topics and Well Written Essays - 500 words

Reading summaries - Assignment Example This article has been authored by Rodrik and in this article the researcher states that policy reforms are not the only tools that can help a developing nation in increasing development. The author states that in order for policies to take effect, institutions that are in the backdrop are ill structured and thus any policy can only have a long lasting effect if the institutions are solid in nature. The author states that various policies such as the policy of trade liberalization cannot work effectively if there is lack of fiscal institutions and similarly if there is lack of a proper capital market then funds will not be allocated to those areas that need to be expanded (Rodrik 978). This is a discussion paper authored by Finn Tarp and in this paper the author argues that it is not necessary that foreign aid only works in those countries where good policies have been implemented. This is because Tarp believes that impact of foreign trade should not assessed in connection with good or bad policies because the policies that might be good might provide misleading information because it is not necessary that in developing nations there are institutions that are implementing these policies properly. In this article the researcher, Ravallion, identifies a new way of doing economics as identified by Banerjee as well as Duflo and according to this new way, decisions regarding economy should be based on randomized control trials or tests. The author states that performing randomized tests in order to conduct research related to economics is not new but these tests have provided surprising results. These tests are considered as important in order to identify causal relationship between different economic variables because these tests are easy to conduct as well as easy to explain. Another reason of these tests being good to perform causal study is that the

The Awful Rowing Toward God Assignment Example | Topics and Well Written Essays - 1000 words

The Awful Rowing Toward God - Assignment Example It seems something that causes ruin, injury or pain would be pretty clear-cut, but what if it is to destroy a cruel dictatorship, to cause injury as a means of repairing an internal injury or to create pain as a means of setting a broken bone? In many ways, evil must be considered to be a changing concept depending on the dominant cultural beliefs at a given time and considered along with the greater context of events. By looking at some relatively recent depictions of evil in today's culture, it is possible to see that evil is usually considered to be an outside force characterized by its creation of unearned pain and destruction.  It seems something that causes ruin, injury or pain would be pretty clear-cut, but what if it is to destroy a cruel dictatorship, to cause injury as a means of repairing an internal injury or to create pain as a means of setting a broken bone? In many ways, evil must be considered to be a changing concept depending on the dominant cultural beliefs at a given time and considered along with the greater context of events. By looking at some relatively recent depictions of evil in today's culture, it is possible to see that evil is usually considered to be an outside force characterized by its creation of unearned pain and destruction.   In the novel The Shining, for example, evil is a bodiless force that is confined for some reason within the area of a remote Colorado resort called Overlook. Within the novel, there is no clear sense of where the evil comes from or why it is attached to that particular location, only that it has likely been in place since the hotel's beginning. There are several instances where people who have died at the hotel are mentioned somewhat offhandedly as if it is too regular to make anyone upset. The Torrence's arrival at the hotel is marked by an angry woman speaking about the time her second husband died out on the roque court (Ch. 9) and they continue to hear about other deaths, increasingly more viole nt in nature, as the book continues. Even early in the story, some of these deaths seem odd, such as the death of the hotel's first owner, working as a caretaker after he'd lost his fortune. "He plugged his finger into a light socket by mistake and that was the end of him" (Ch. 10) or that of his son, who was killed in a riding accident on the property. The evil of the hotel is a disembodied thing, but it has a clear objective - to destroy life by causing extreme pain and mental anguish and to acquire power. The violence of the hotel is introduced in Chapter 12 as the little family is getting a tour of the Presidential Suite on the third floor: "Great splashes of dried blood, flecked with tiny bits of grayish-white tissue, clotted the wallpaper.  

PathGoal Theory Essay Example | Topics and Well Written Essays - 1250 words

PathGoal Theory - Essay Example The articles are different in the way that Chester A. Schriesheim and Linda L. Neider provide more research and literature review on the theory while Jim Bolt discusses the modern leader and importance of changing the dimension of a modern manager's role in the company. Schriesheim and Neider begin their article by mentioning the developers' definition of a leader and the functions that are supposed to be held by a modern manager of an organization. They stress that, the function of a leader is to increase "personal pay-offs to subordinates for work-goal attainment and make the path to these pay-offs easier to travel by clarifying it, reducing road blocks and pitfalls, and increasing the opportunities for personal satisfaction en route" (House, 1971, p. 324). Effective leaders assist employees in their career path that is aimed at individual fulfillment of employees and organizational benefit. Most of the investigations of House's path-goal theory have concentrated on exploring relationships between leadership behaviors (e.g., consideration and initiating structure) and outcome measures (e.g., satisfaction) while studying the impact of different moderator variables (such as task structure). House (1971), for example, found preliminary support for t he contention that situational variables may moderate the relationship of perceived initiating structure as well as consideration and such effectiveness measures as subordinate job satisfaction. The authors of the article cite Bass (1990) noting that the leader "needs to complement only what is missing in a situation to enhance the subordinate's motivation, satisfaction, and performance" (p. 627). Mentioning about over 100 studies published on the theory of path-goal leadership, Schriesheim and Neider continue the article by outlining the findings of few studies. The results of a meta-analysis of over 40 studies, Resulted in a support for the basic propositions of the theory, particularly with respect to the role of initiating structure, moderated by taskcharacteristics, on employee satisfaction. The results with respect to performance as an outcome variable and with respect to leader consideration behaviors appear to be far less consistent, and this may account for the removal of subordinate performance from the most recent statement of the theory. Another study provided by Szilagyi and Sims (1974) found that "while task characteristics moderated the relationship between initiating structure and employee satisfaction, the same was not true with respect to the relationship between initiating structure and performance". Further, Schriesheim and Schriesheim (1980) found that perceived consideration appears to be strongly related to employee satisfaction levels regardless of situational characteristics. Specifically, supportive leadership explained 63% of the variance in supervisory satisfaction scores, even after instrumental leader behaviors were paialled out. This finding is also consistent with the meta-analyses conducted by Fisher and Edwards (1988) and Wofford and Liska (1993), both finding support for a positive relationship between leader consideration and subordinate job satisfaction. Both of these meta-analyses also, however, provided only mixed results regarding the theory's proposed moderator relationships. In contrast to Schriesheim and Neider, Bolt does not refer to any studies in his article but

Los Vendidos by Luis Valdez Research Paper Example | Topics and Well Written Essays - 750 words

Los Vendidos by Luis Valdez - Research Paper Example It is clear from the study that in his play Luis Valdez highlights racism, social injustice, stereotyping and corruption of social identity as key problems faced by the Mexican and Mexican- American groups. The perpetrators are the Americans. The Mexican stereotypes are not accepted by the American society thus face constant disapproval and discrimination. This case is demonstrated by the proceedings of the secretary-Miss Jimenez who goes to buy a â€Å"brown-skinned† robot that has a Mexican appeal. However, she focuses on a model that is likely to be accepted by the American society for having certain characteristics such as the English speaking ability, sophistication and hard-working. The secretary highlights these characteristics as the ideal representation of the American. These characteristics are completely opposite to those associated with Mexicans or Mexicans-Americans. They are known as lazy, stupid and illiterate. As much as the Americans are blamed for these acts against the community having Mexicans roots, they are also to blame for its spread. The shop owner and the secretary have Mexican roots but instead, continue to stick to the stereotypes set by the Americans. This proves to a certain point that they are also inclined to believe it is the actual case with people of Mexican roots. The author focuses much on the effects of the Americans in perpetrating this kind of discrimination while also failing to recognize the role played by the Mexicans and the Mexican-American society. While buying the models Miss Jimenez- a Latina, but she play-acts as an American, and for that matter she is inclined or rather believes that products made in the U.S.A are way better. In fact she wishes to buy a Mexican-American product only made in the USA are because they thought to be of better quality than those made by Mexicans. After going past a Mexican a revolutionist, a pachuco, a farmworker and a college-educated Mexican-American, the secretary decides t o take the last one. She buys the model, but just after making the monetary disbursement he acts in an unforeseen way. Terrified, she leaves the model shop without taking the merchandise she had bought (Valdez, 1995). This explains that she had conflicts with how the office would like her purchase. Perhaps it would not please them enough. This shows that the Latinos have to great extent become subject to enabling the spread of this stereotyping. The author does not dwell much on it though it is an indispensable part of the play. It is very notable. Until this instant in the text â€Å"Los Vendidos†the reader can see the diverse stereotypes about Latinos themselves, comprising those who act as if they are not Latinos like the secretary. If the play ended at that point, it would be anassessment on the relationships based on stereotypes. However, Luis Valdez goes ahead and displays the set of Latinos who act like robots distributing the money they had got from the secretary and seeingas stupid those people who

Amanda Todd Story Essay Example for Free

Amanda Todd Story Essay Ive decided to tell you about my never ending story. In 7th grade i would go with friends on web cam meet and talk to new people. then got called stunning,beautiful,perfect,etc. then wanted me to flash. so i did 1 year later. i got a message on facebook. from him don’t know how he knew me. it said.. if you don’t put on a show for me i will send your nudes. he knew my address,school,relatives,friends,family names, Christmas break knock at my door at 4am. it was the police. my photo was sent to everyone. i then got really sick and got anxiety, major depression and panic disorder. i then moved and got into drugs and alcohol. my anxiety got worse couldn’t go out. a year past and the guy came back with my new list of friends and school. but made a facebook page. my nudes were his profile pic. cried every night, lost all my friends and respect people had me for me again.. then nobody liked me. name calling, judged i can never get that photo back. its out there forever i started cutting i promised myself never again didn’t have any friends and i sat at lunch alone. so i moved schools again everything was better even thought i sat still alone. at lunch in the library everyday. after a month later i started talking to an old guy friend. we back and fourth texted and he started to say he liked me.. led me on.. he had a girlfriend.. then he said come over my girlfriend ,is on vacation. So i did.. huge mistake.. he hooked up with me i thought he liked me 1 week later i get a text get out of your school. his girlfriend and 15 others come including himself. the girl and 2 others just said look around nobody likes you. in front of my new school 50 people. a guy than yelled just punch her already. so she did.. she threw me to the ground and punched me several times. kids filmed it. i was all alone and left on the ground. i felt like a joke in this world.. i thought nobody deserves this. i was alone .. i lied and said it was my fault and my idea. i didn’t want him getting hurt, i thought he really liked me. but he just wanted the sex.. someone yelled punch her already. teachers ran over but i just went and layed in a ditch and my dad found me. i wanted to die so bad when he brought me home i drank bleach.. it killed me inside and i thought i was gonna actually die. Ambulance came and brought me to the hospital and flushed me. After i got home all i saw was on face book. She deserved it, did you wash the mud out of your hair? i hope shes dead. nobody cared.. i moved away to another city to my moms. Another school.. i didn’t  wanna press charges because i wanted to move on. 6 months has gone by people are posting pics of bleach, clorex and ditches. tagging me .. i was dang a lot better too they said.. she should try a different bleach. i hope she dies this time and isn’t so stupid. they said i hope she sees this and kills herself.. Why do i get this? i messed up but why follow me.. i left your guys city.. im constantly crying now..everyday i think why am i still here? My anxiety is horrible now.. never went out this summer. All from my pastlife’s never getting better.. cant go to school. Meet or be with people constantly cutting. Im really depressed. Im on anti depressants now. and counselling and a month ago this summer. i overdosed in hospital for 2 days..Im stuck.. whats left of me now.. nothing stops. i have nobody.. i need someone. my name is Amanda Todd. Summarize What kind of person would bully a kid online? What kind of person ridicules a child’s memory even after she took her own life. after 3 years of hell. began with a 12 year old and a web cam. Her name was Amanda Todd. After 3 years of hell, dealing with negative/rude comments telling her to kill herself, she decided it was time. Before she killed herself, she attempted to kill herself two other times, the one time she tryed to drink bleach thinking that it’ll kill her instantly, but it didnt, the other time she started cutting herself and overdosing on drugs. Then a month before she committed suicide she posted a youtube video of what she was going through. After reading most of the rude comments on the video, she thought that why am i still here in this world? Im not wanted. Im worthless, nobody wants me here. After reading all the rude comments she finally committed suicide after 3 long years of hell. On Wednesday October 10th 2012 Amanda Todd was found dead! She finally gave up on life and finally committed suicide.

An introduction to the Discount House in Nigeria

An introduction to the Discount House in Nigeria In selecting an industry, the Discount House, a sub sector of the Nigerian financial sector was selected because they are peculiar in their own special way in that they offer unique financial services which put them in almost the same pedestal as the regular banks in Nigeria but they are not banks. They could also be referred to as specialised banks. In carrying out an analysis of its competitiveness, the PESTLE model was used to analyse how the Discount House sub sector is affected by environmental factors while the Porters Five Forces was used to analyse the various threats and challenges that beset the Discount House sub sector. Discount houses are specialised financial Institutions created by the Central Bank of Nigeria (CBN), to assist its management of liquidity in the economy (Consolidated Discount Limited, 2009). They are composite but specialised financial services solution provider (Associated Discount House Limited, 2009) whose primary function is to provide safe and secured short-term investment opportunities within the banking system. (Express Discount Limited, 2009). The Structure Of The Nigerian Financial System The Nigerian financial system is made up of two sub sectors; the formal and the informal sub sectors. The formal sub sector comprises of the regulatory bodies, money market, capital market, foreign exchange markets, insurance companies, brokerage firms, deposit money banks (DMBs), development finance and other financial institutions. As at the end of March 2010, there were 24 deposit money banks(DMBs), 5discount houses(DHs), 941 microfinance banks(MFBs), 107 finance companies(FCs), 101 primary mortgage institutions(PMIs), 13 pension fund administrators(PFAs), 5 pension fund custodians(PFCs), 1 stock exchange, 1 commodity exchange, 1621 bureau-de-change operators(BDCs), 690 securities brokerage firms, 5 development finance institutions(DFIs) and 73 insurance companies. The informal sub sector includes self-help groups, financial cooperatives and credit associations. It is imperative to know that there is a weak relationship between the informal sub sector and the formal sub sector (financial stability report, 2010) Discount House Sub Sector Overview: Discount Houses in Nigeria were first established in 1993. They were licensed to commence operations with just three discount houses as players. Their number later increased to five and their foundation can be linked to Great Britain, which is generally regarded as the origin of discount houses. These institutions evolved to provide a link between the banks and the Bank of England by serving as a channel for the interchange of banks funds as well as providing access to the Bank of England as a lender of last resort (Chartered Institute of Bankers of Nigeria, ) and in like manner discount houses in Nigeria are to act as intermediaries or mediators between the Central Bank of Nigeria and other licensed banks in Nigeria in Open Market Operations transactions (Revised Guidelines for Discount Houses, 2004). There are five discount houses in Nigeria wholly owned by consortiums of banks and other financial institutions as allowed in the Discount House guidelines 2004 by the Central Bank of Nigeria. However the maximum allowable equity holding for any investor in a discount house is 40% (Revised Guidelines for Discount Houses, 2004).These Discount Houses are named as follows: Associated Discount House Limited (ADHL), Consolidated Discount Limited (CDL), Express Discount House Limited (EDL), First Securities Discount House Limited (FSDH) and Kakawa Discount House Limited (KDHL).They fall under a common umbrella referred to as Nigerian Discount Market Association. They are presently not listed in the Nigerian Stock Exchange. The Discount House sub sector is highly monitored, guided and regulated by the Central Bank of Nigeria and the Securities and Exchange Commission of Nigeria requiring of them their daily, weekly, quarterly, semi-annual and annual reports showing the state of their affairs. Their daily operational activities include the injection and the withdrawal of funds by the Central bank of Nigeria from the money market through them (Ezirim and Enefaa, 2010) of which they must invest 60% of their deposit liabilities in government securities at any point in time (Revised Guidelines for Discount Houses, 2004). By this a balance is maintained in the economy thereby guarding liquidity. Apart from this function, the discount houses also facilitate the issuance and sale of short term government securities, provide discount/re-discount facilities for treasury bills, government securities and other eligible financial instruments, accept short-term investments on an intermediary basis from banks and wholesale investors and lastly provide short term financial accommodation to banks (Revised Guidelines for Discount Houses, 2004). The Discount House Sub-Sector Environment: The discount house sector is greatly influenced and controlled by environmental forces; global and domestic. The global economic environment shows that the global economic crisis appeared to have eased off in the latter part of 2009 but general optimism is being replaced with pessimism of a double dip recession, as fears grow that governments and policy makers around the world might be forced (due to pressure or mistakes) to remove monetary and fiscal props, too soon. So even though developed economies are gradually beginning to come out of the general recession, the situation is still delicate (First Securities Discount House, 2009). In emerging market economies, growth has been robust but inflationary pressures are strong and on the rise. The negative impact of the political crises in the oil-producing Middle East and North Africa (MENA) region on oil prices and the disruptions and destructions associated with the earthquake and tsunami in Japan have added to uncertainty about the sustainability of global economic recovery and growth%( Central Bank of Nigeria communiquà © No 75, 2011). This has great implications on the discount houses with Nigeria being a developing and emerging economy and the effect of the global crises is strongly felt with a probability of increases in the international interest rate. The domestic economic environment is being characterised by a fluctuating inflation rate which has significant impact on interest and lending rates. It has been a herculean task trying to bring down the inflation rate to a single digit as proposed and rather the rate rose from 11.1% as at March, 2011 to 12.8% in April, 2011(Nigeria Bureau of Statistics, 2011). This inflationary rise still has a tendency to heighten further as a result of the general increase in global and food prices. The operating economic environment is full of challenges as there are array of issues. In March 2011, the Monetary Policy Committee of the Central Bank increased MPR from 6.5% to 7.5% maintaining interest rate corridor of +/-2% around the MPR. By this, the Standing Lending Facility Rate (rate at which CBN lends to Banks and Discount Houses as bank of last resort) became 9.5% and has remained so. On the other hand, the Standing Deposit Rate (rate at which Banks and Discount Houses place excess funds with the Central Bank of Nigeria) remained at 4 %. The Gross Domestic Product (GDP) had a projection of an increase by 7.43% in the first quarter of the year 2011, giving a generally good outlook to the Nigerian economy. This projection arose as a result of the expectation for a perk up in the oil sector and also the increasing emphasis on the development and improvement of the other sectors in the economy (Central Bank of Nigeria communiquà © No 75, 2011). Finally on the political scene, the year 2011 being an election year for Nigeria, there are a lot uncertainties associated with the electoral process and the election results and this could affect the discount house sub sector and the Nigerian economy as a whole and it is projected that the effect of these uncertainties will result in higher exchange rate risks with lower reserves and high spending-currency devaluation possible and that Inflation will remain over 10% with implications for demand, input costs and projects(Resource and Trust Company Limited, 2011). Competitiveness In The Discount House Sub- Sector The discount house sub sector is just a small sector in a large financial sector with just a few players who are almost of equal standing; hence, there is strong competition among the services providers which have led to innovation, efficiency and the upgrade of competitive advantage by the players. The provision of specialised personalised services allowable within the scope of the discount house guidelines. Example is the personal pension plan developed by Consolidated Discount Limited which was created as a way of preparing clients to be less vulnerable to loss of earning capacity after retirement (Consolidated Discount Limited, 2009). Also Associated Discount House Limited in conjunction with the Debt Management Office (DMO) of Nigeria organized an awareness seminar on 12 February, 2009 to enkindle the interest of retail investors both local, international and in the diasporas in Federal Government of Nigeria Bonds (Associated Discount House Limited, 2009). Opportunities In The Discount House Sub- Sector Without gainsaying, there are opportunities in Discount Houses businesses (if not many) which gives them an edge over banks and other specialised banks. As earlier inferred, discount houses are allowed to offer certain unique financial services which puts them almost in the same stand as banks and even much more but they cannot be referred to as banks and one of the reasons is because there is minimum paid up capital imposed on the regular banks which amounts to N25,000,000,000.00(Twenty five billion naira) only at any point in time. For the discount houses sub sector, the minimum paid up capital shall be N1,000,000,000.00(One billion naira) only or as may be prescribed by Central Bank of Nigeria from time to time (Revised Guidelines for Discount Houses, 2008). There is a revised Guideline for year 2008 which also relaxes the ownership of Discount Houses to now include non-financial institutions and individuals. This revision provides the opportunity for Discount Houses to grow their capital base to enable them to explore new areas of business and boost their profitability (Kakawa Discount House, 2009). Discount Houses have sizable support from the Central Bank of Nigeria as they often have the privilege of being able to gain access to cheap funds by using the government securities in their custody to borrow. Discount Houses are tightly regulated therefore there can be little room for carrying out activities outside their stipulated guidelines. Discount Houses are proactive in monitoring and managing money market trends to the benefit of their clients. Unlike other deposit taking institutions, the financial assets acquired by Discount Houses are of the finest quality with little or no credit risk (Express Discount House Limited, 2009). Threats To The Discount House Sub- Sector Naturally the discount house sub sector is faced with its own threats and challenges as from inception, discount houses operated in an environment that could termed as unusual or abnormal. There was a distress situation in the banking sector which was at its peak and most banks patronized discount houses in order to ensure the safety of their funds, but with the return of orderliness and calm, discount houses patronage by banks reduced. Rather, the interbank and foreign exchange markets seem to have provided more attractive trading options for the banks, to the detriment of the discount houses. Licensing of additional discount houses to make the total number of discount houses 5 proved to be a challenge as it had an adverse effect on the total turnover of the discount house sub sector, following the initial boom from the year of operations of 1993 where total asset stood at N9,600,000,000.00(Nine billion, six hundred million naira) only which dropped significantly to N3,400,000,000.00(Three billion, four hundred million naira) only in 1995 following the entrance of a new entrant into the market. With these happenings, licensing of new discount houses might still impact on the sub-sector further negatively. Their narrow scope of operations has also proven to be a major challenge for the Discount House sub sector being a specialised bank is inhibiting a lot of opportunities for expansion (Chartered Institute of Bankers of Nigeria, 2010). Finally, from the inception, discount houses had the exclusive right to conduct Open Market Operations transactions (OMO). Open Market Operations (OMO) is an indirect monetary policy technique that is used to control the level of money supply. It involves the sale/purchases of money market instruments in the open market; these instruments being Nigerian treasury bills (Ezirim and Enefaa, 2010). With the Central Bank of Nigeria opening up the window to banks as well, the discount house sub sector lost the sole right of Open market Operations. Conclusion In spite of all the challenges and threats faced by the Discount House sub sector, the Discount Houses are still are very vital part of Nigeria as an emerging economy and just the existing players in the market are not enough to keep a balanced financial sector and the economy as a whole. In the light of the fact that the Central Bank of Nigeria as the major regulator keeps on revisiting and revising the guidelines of the Discount House sub sector, there is hope yet still for growth, expansion, innovation and maximum output which should encourage new players to participate. Part 2 Strategy Overview Strategy is a plan or blueprint of what an organisation intends to achieve and how to go about it. Artto, Kujala, Dietrich and Martinsuo (2008) define strategy as a firms goal to attain a desired position in its competitive external environment. This is in line with Kenneth Andrew (1987) school of thought that views strategy from the corporate angle where he views corporate strategy as the nature of decisions a company takes which reveals its short and long term goals, how it plans to go about achieving these goals and how its outcome will affect all stakeholders and community at large. There is a popular belief that an organization that fails to plan or strategise, plans to fail and Goold (1996) goes on further to share his own view when he says that matured businesses can easily become staid and resistant to change. Usually this behaviour leads them to a decline and the only way it can regain its position is through strategy or change in strategy. This resolve usually involve the p ursuit, accomplishment, and maintenance of competitive advantage in its industry (Varadarajan and Clark cited in Morgana and Strong, 2003). Whittington (2001:10) summarises it all when he says strategy is all about thinking better and thinking differently and claims that a good strategy means doing something different from every other person. But there are pitfalls to strategy as Mintzberg (1994) puts forward the question; is a climate conducive to strategic planning necessarily one conducive to effective strategic thinking and acting? He claims that there are underlying issues which affects the ability of plans to make head way and emphasizes that these issues are neither technical nor analytical but rather human (Abel and Hammond cited in Mintzberg, 1994). But Smith and Reese (1999) argue that as long as there is a fit or alignment between operational elements and business then there should be no pitfalls where he defines fit as the degree to which operational elements match the business strategy. Alternative Approaches to Strategy: Similarities and Differences There are various approaches to strategy but Whittington (2000) classifies strategy into four approaches: the Classical, Evolutionary, Processualist and Systemic. He further analyses each approach as follows: The classical approach sees strategy as a process of rational deliberation, calculation and analysis, intended to achieve long-term benefit and that good planning is what it takes to master internal and external environments. The Evolutionary approach analyses strategy from the point of view that rational long term planning is often irrelevant and that strategies that turn out to be successful only turn out so because it was inevitable. The Processualist approach sees long term planning as basically pointless, but they are not so doubtful or cynical about the fate of businesses that do not take full advantage of environmental opportunities as they do not their see inability or failure to think up and strategise is going to lead to any serious competitive disadvantage. Finally the Systemic approach to strategy sees organizations strategic planning as basically being influenced and controlled by the social system in which they operate. Meaning the demographic setting of the organizations environment needs to be taken into consideration when strategizing. In analyzing the similarities and differences of these approaches, their style or processes and their end result is paramount. In comparing the classical and evolutionary approaches to strategy, Whittington (2001:2) posits profit maximization as the natural outcome of strategy-making. This he made in reference from the point of view of their end result which is profit or return on capital. These approaches associate profitability with strategy and believe the higher the level of strategy employed, the higher and better the profit generated. This view is shared by (Friedman and Baumol cited in Vining and Meredith, 2000) where they argue that the only appropriate goal or strategy in any organisation is to maximize profit and that any other goal is considered inappropriate. As much the classical and evolutionary approaches are similar in terms of profit maximization being their goal; they differ in style and processes. The classical approach adopts a style of rational planning (Whittington, 2000:11) whereas the evolutionary approach lacks confidence in rational planning where they argue that no matter the level or intensity of strategy, the outcome is usually driven by market dictates and how well a manager is able to perform and that investing in long term strategies can be counter productive (Whittington, 2000: 19). In this instance, the evolutionary approach can be compared with the Processualist approach to strategy in that they also do not believe in rational planning. This view is shared by Peppard 1995, who argues that in a claim to gaining competitive advantage, management develop strategies with seemingly superiority above others which is just a way of them being seen to be doing something and not necessarily hope to achieve anything by their strategies. By this claim, peppard tries to show that rational planning is just an act which is not necessarily relevant to the overall performance of the organisation but it is something that is done for the corporate image. His view is supported by Cyert and March ( cited in Whittington 2000:22) who argue that firms can plan in such a way that major strategy sessions could be cut off and yet still deliver just enough to keep everyone satisfied. Although the processualist approach is similar to the evolutionary approach in terms of processes and style, that where all their similarity ends because in terms of outcome. The Processualist approach can be compared with the systemic approach of strategy whose school of thought sees not only profit maximization but other outcomes as a an end result of strategy (Whittington 2000: 21 27). Werther Jr and Chandler (2005) argue that firms are continuously appraised in terms of both the financial and social benefits that result from their corporate actions or strategies. The systemic approach proposes that firms differ according to the social and economic systems in which they are embedded (Whittington, 2000:27) thereby viewing strategy as being guided and controlled by the environmental forces in which they operate. In the same spirit, the processualist advice against striving after unattainable ideal of rational fluid action, but to accept and work with the world as it is (Whittington, 2000:21). Finally, the systemic approach can be compared with the classical approach in that they both believe in rational planning and do retain faith in the capacity of organizations to plan forward and to act effectively within their environment'(Whittington 2000:26). This view is shared by Casadesus-Masanell and Ricart, (2010) when they opined that strategy is a high-order choice that has profound implications on competitive outcomesà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦.. and strategy should contain provisions against a range of environmental contingencies, whether they take place or not and Stallwood (1996) maintains that strategy is necessary but insists that whatever strategy is used must be appropriate and simple enough for it to become adopted by an organization without necessarily having to change after its initial usage. Conclusion Strategy can be seen as a means of avoiding [perhaps] costly and damaging warfare (University of Leicester, 2009:90) and it is quite clear that all the approaches of strategy have their own benefits even though they are similar and also dissimilar in their own unique ways. Therefore which ever method adopted should be seen to add to an organizations performance and must be duly analysed and deliberated on ensuring it is in alignment with the organizations goals and objectives before adoption.