Sunday, February 16, 2020

Discuss the importance of recruitment and selection of sales people Essay

Discuss the importance of recruitment and selection of sales people. Explain the possible problem that you may encounter in selecting the wrong person for the job - Essay Example And in spite of the considerable expansion of the indirect sale, supported by the fast and phenomenal development of new technologies, the direct sale remains a privileged tool in the global sales process. Nevertheless, it is will be assigned here that even the sale is done by direct or indirect way; the salesman plays a major role in this process that we will try to highlight along this paper. In an intuitive way, we can say that â€Å"it is somebody who succeeds in convincing a customer to buy his product or his service at his price and his conditions†. We will be able to discourse a long time on the subject, but the real fact is that the salesman is currently engaged in order to achieve this objective and to improve the results continually (Doney and Canon 1997). Thus, the real mission of salesman is to accomplish a work with innovation, motivation and high confidence. Doney and Canon (1997) state that, more and more people beginning their sales career adopt an attitude which is harmful for themselves with respect to their work. They identified a series of reasons that lead to this kind of behaviors. Among those reasons they mentioned the lack of confidence in a product, the difficulty in making a final choice by the absence of priority sense, etc. More emotive reasons like personal rejection or fidelity towards their current supplier are also present and they are often among the most difficult to counter to. The internal conflicts at the various stages of intervention in large organizations are omnipresent and constitute serious problems but not insurmountable obstacles for salespeople (Forsyth 1980). We must remember here that in 67 % of the cases, the first objection of the customer is not "the true objection" and that the sale starts when the customer says "not". We wish to warn against the reflexes of defense which come with the rejection and which tend to

Sunday, February 2, 2020

Risk Management for Finance Sector Enterprises Essay

Risk Management for Finance Sector Enterprises - Essay Example These risks affected the Bank after the merging of banking and securities business. The failure to manage these risks appropriately lasted to the collapse of the bank. â€Å"The failure of Barnings in early 1995 and the circumstances surrounding the discovery of large trading losses at Daiwa in New York in that year, as well as the more recent experiences of losses at Sumitomo, show that risk management must be made   to work in practice as well as theory†. The circumstances that led to the collapse of Barings bank are mainly the failure in managing the market risks. The power to manage the activities of the bank in Singapore has remained concentrated in the hands of Nick Leeson, who worked in the Singapore stock market and was able to deal from both sides. Leeson appointed only few staffs in his office at Singapore due to the fact that it will offer him the leeway for making the forgery. With this motive in mind, he projected a false impression of the market situation by th e use of cross-trade technique and created a profit of 50% during 1994. He started the forgery by creating to a false account and by the end of 1994 the actual state of affairs came into notice and the bank authorities realized that they have sustained a loss of â€Å"$296 million†.... financial sector enterprises may arise from variations in market prices, consisting of alternative volatilities, change in interest rates, product costs and foreign exchange rates. Generally, the higher the cost volatility in any marketplace the greater the possible markets risk. According to Richard J. Herring in his article called BCCI & Barings: Bank Resolutions Complicated by Fraud and Global Corporate Structure, talks about the Leeson’s intention of defrauding the bank. He says that his intention (Herring n.d.) has become successful mainly due to the lack of monitoring of the daily internal activities. The bank over relied on its staffs and gave them freedom which enabled Leeson to misappropriate the money. An internal assessment of the Bank would have prevented the possibility of manipulation and the subsequent collapse. Inadequate allocation of funds was another failure in managing the market risk and this encouraged Leeson to continue his corruption. Adequate hedging t he position was another market risk faced by the bank and it utterly failed in managing this risk. The position of Barings Bank in the stock market was also manipulated in the beginning of 1994, which prevented the bank from taking necessary action. The final market risk faced by the bank was the checking of the closing position and trading limits. The management of the dealings in stock market and of the dealing limits is an important function of a bank. However, the bank failed to manage this risk as Leeson controlled the activities of the bank in the stock market and the bank relied blindly on him. Thus, Barings Bank finally bore the brunt in terms of its eventual collapse. Due to the unsuccessful management of risks relating to internal controls, an employee of the bank was able to tamper