A letter and a statement Essay Example for Free

A letter and a statement Essay Right at the bottom of the page the companys reminder about data protection act can be found. The bottom of the letter is a tearaway slip which has a unique background colour of pale blue. The purpose of this letter is to inform the customer about their bonus claims about their life insurance. The letter is brief and formal. The letter consists of a tear away slip, which takes most of the space on the page. The letter text consists of few paragraphs explaining the how to contact the company about any queries regarding the customers bonus claims. The letter is related to a bonus claim is has a reference number below the address. The letter is generally written in a simple form allowing any one to read the letter and understand it. The letter is split in to two main parts one being the main letter, which has all the text and images and the other being the tearaway slip which is on the letter if any contact details are incorrect. The letter needs a few improvements. Currently there is no background colour for the letter making it boring and making it less important. If the letter had colour, it would allow the customer or person reading it remember it. Generally all of the components are properly located on the letter with the image and text being in the right location. Also the unique thing is that the companys contact details are in a different place then other letters. Other improvements could include making the companys slogan more effective by using colour and a border around it that will make it stand out and look effective. Currently the letter is eligible because of the simple language used with in the letter. Also the letter is set out in simple manner allowing the letter it be understood easily and is precise to the point. If the language changes, this will make the letter hard to understand and can put of some customers. The instructions for the tearaway slips are easy to understand allowing the customer to follow them easily. The Britannia Life statement has the logo situated in the same place as in the letter. The logo is in the top right hand corner of the page. The logo has the companys colours included init being royal blue. The logo consists of a shape that is a rectangle and text saying the companys name. The date cannot be found on the statement. The companys colours are used in the logo as well as the background and in the table. The background colour of the statement is pale blue. The cells in the tables with the headings of the columns have dark blue background. In the middle of the statement the address of the customer can be viewed. On the left of the customers address there is some text explaining a telephone number, which could be used by the customer if they do not understand any thing or have a query. Below there is a big table taking most of the space on the page. The table consists of seven columns. Right at the bottom below the table there is an important notice explaining the company and explanation of the headings. The purpose of the statement is to give the customer information on the current state of their pension funds for the future and the bonuses they have received. The statement also informs the customer of the basic profit and any other new bonus received. In the table all the details about their pension are given including the total basic profit benefit. The Britannia Life statement is easy to understand, as there is no complex language used at all. Mostly it consists of figures and values. The statement is formed of two main parts with the top half consisting of the logo and contact phone number. Also the top half of the statement has the contact address for the customer. The other half of the statement consists of the table, which holds vital information relating the customers pension policy and any bonuses they have received. The statement is set out to landscape format. The Britannia Life statement could not really be improved as the table uses all of the space wisely. The statement is clear and easy to understand. The main thing that could be changed is that the companys contact details should be shown allowing the customer to contact the company easily with out any hassle of finding contact information. The statement has clear headings and values with big points size making it easier by any one to understand unintelligent or unilliterate. The statement currently is really simple made up of tables that divide all the details in to areas. This makes it really simple to understand the costs and bonuses received by the customer on their pension. The background colour around the table makes the table stand out making it simpler to understand the details. Analysis Alliance Leicester has their logo in the same position on letter and the statement being on the top left hand corner of the pages. But AXA has its logo in the middle of the page, right near the top on the statement and on the letter. Both companies use their company colours in the logo. First of AXA used dark blue and red in their logo and Alliance Leicester use orange and blue in their logo. The last company Britannia Life has its logo in the same position on both documents being on the right top hand corner. However all of the companys have situated their logo in different places on the top of the page and all of the companys logos can be recognised by the companys colour being used in them. The Alliance Leicester use a unique layout on their letter as it consists of a line separating the actual letter and some advantages in big point size in bold on right hand of the page. While the AXA letter is simple with only text on it related to the actual letter its self. Also the AXA letter has a lot of free space with the Alliance Leicester letter being more compressed. Overall the Britannia Life is different as it has a tearaway slip making it different from them all. The letter also has space available near the top half of the letter but the bottom of the letter is depressed for space because of the tearaway slip. Generally the Britannia Life letter is simpler to understand then the Alliance Leicester and AXA letter because of the complex language used throughout. All of the letters have the customers address, which is a standard piece of information in the correct place being on the left hand side of the page just below the top of the page. The dates can be found on all of the letter but in different locations. First of all the date on the Alliance Leicester letter is situated on the top right hand side. The date on the AXA letter is found on top right hand side nearly the same position as the Alliance Leicester date. But the date on the Britannia Life letter is found in different location, which is situated above the address on the left hand side of the page. All of the letters have contact details of the organizations on them. Two of the letters have them generally in the same position. The two letters that have the contact details in the same position are the Alliance Leicester letter and the AXA letter. The difference of the contact details is that the Alliance Leicester contact details have a background colour being bright orange but the AXA contact details do not have any background colours or patterns. The Britannia Life contact details are totally in a different position, which is on the top right hand of the page just underneath the logo. The Alliance Leicester letter consists of bullet points as well text. The text has different sub headings to make it easier for the reader to understand what each section is about. But the other letter from AXA and Britannia are simple letters with one overall heading explaining what the whole letter is about and purpose. Those letters do not have any special formatting used with in them for example the bullets points in the Alliance Leicester letter. Different types of information can be found at the bottom of each letter. First of all at the bottom of the Alliance Leicester letter we can find the contact details as well as the copyright trademark act. Consequently only the contact details can be found on the AXA letter. But on the Britannia Life Letter at the bottom the data protection act details can be found informing the customer about how the company regards and obeys the act at all times and explaining to the customer that their personal information is safe with the company. Britannia Life Letter is the only letter to have an image on it none of the other letters have an image on them. The statements are all different with only two statements having the date on them being from Alliance Leicester and AXA. All of the statements use tables in them. The most tables are used in the AXA statement to show all the details about the motor insurance customer details. However in the Alliance Leicester statement the table is used to show the payment due amounts and dates. A big table can be found in the Britannia Life statement, which takes mostly the space on the statement. That table is used to show something totally different from the other statement. It is there to show the bonuses and policy information about the pension funds. All of the statements show the state of different things. The Alliance Leicester statement shows the state of the current account of a customer and shows the payment due dates. The Alliance Leicester statement informs the customer about their credit limit and how much credit limit they have available. The Alliance Leicester statement has a slogan but the AXA statement does not have a slogan. However the Britannia Life statement does not have a slogan but the letter does in a different position being on the top left hand side of the page. The AQA statement shows renewal details of the insurance. It has details of the company and drivers. The details can be found in the tables that have colour used in the cells with the headings same as the Britannia Life Statement table. The Britannia Life statement informs the customer of the state of their bonuses and pension policies with figures and numbers making it easier. The statement does not have a slogan unlike the Alliance Leicester Statement. All of the statements have contact details found on them but all the contact details vary. The only contact detail found on the Britannia Life statement is a telephone number on the top left side of the landscape-formatted page. But on the AXA statement the contact details can be found at the bottom also in the top table, which has a telephone number. The contact details in the Alliance Leicester statement can be found on the top right hand corner. The contact detail is a telephone number and an address. The Alliance Leicester has colour used on it in the logo and a background behind where the credit limit is shown. But the only source of colour on the AXA statement is the colour used in the logo and in the cells, which contain the headings. There is no background colour used. Alternatively in the Britannia Life statement colour is used in the logo. There is also colour used in the background through out the page. Colour can be found in the cells in table, which contain the headings for the columns. The Britannia Life Statement also has a picture in the background of table showing a bridge none of the other statement has an image in the background.

Alcatraz Essay -- essays research papers

As the cold waters rush into the San Francisco Bay, they crash up against an island standing in the strait. This rock is hidden by the fog and isolated by the chilling waters of the Pacific that flow in and out every day. It has a gloom that hangs about its rocky face most know it as Alcatraz but the men who experienced this island, referred to her as â€Å"The Rock†. To the men confined there, it is not only the ultimate in isolation but the most ironic because they are there in the midst of the activity of a busy harbor with small craft darting to and from San Francisco, Oakland, Alameda, Berkeley, Richmond, and Sausalito; within sound of the honking horns of a ceaseless procession of automobiles crossing the bridges; within sight of ocean liners as they glide through the Golden Gate to far away ports in the vast Pacific, and within sight and sound of air clippers and their buzzing motors, all reminding them that life is near but freedom is so far. James A. Johnston Alcatra z was the dreaded prison of all criminals. This penitentiary was a sign of long term confinement and isolation. The island has gone through many changes in its time, from serving as a military fort in the mid 1850s, as a military prison in the early 1900s, as a national prison in the mid 1900s and, as it is today, serving as a national museum and park. The military took this island as a fort in 1909 and construction of a concrete cellblock was started on the uppermost plateau of the island. It was used as a military prison during these years. However, it soon became over crowded and three years later construction of the new cell house took place. Once completed, the inmates were moved into this cellhouse which had spacious cells, and more importantly, central heating. In addition, a well-equipped medical facility was now available onsite, thus eliminating the need to transfer sick, yet dangerous, inmates off the island for care in hospitals on the main land. Life on Alcatraz, popularly named as â€Å"The Rock†, was not easy for the inmates. During the early years on Alcatraz, incarceration meant hard labor on the grounds of the island. However, by the mid 20’s, rumors began to circulate about the country of unspeakable conditions the inmates had to endure on the island. Outcry from the public persisted, forcing the military to make a decision. Faced with the expense of operating the island an... .... The salt water from the bay had taken its toll on the prison. The concrete in the cellhouses and other buildings absorbed much of the salt from the air and were quickly disintegrating. This is why it was so easy for this last escape to take place. It was estimated that it would take close to 5 million dollars to repair Alcatraz. That was a cost that the government was not willing to spend. The operating costs of Alcatraz were also looked over. The cost of shipping food and other supplies to the island was becoming more expensive and it was found that it was no longer cost efficient to keep â€Å"The Rock† in use. In 1963 Alcatraz was closed down by the decision of Robert F. Kennedy. Despite the closing of Alcatraz as a prison, there is still activity among these rocks. This island, formerly a place of solitude and desolation, now serves as a National Park and museum. The Golden Gate National Recreation Area was established in 1972 and Alcatraz was included as one of these parks. Over one million people visit â€Å"The Rock† each year, including tourists from around the globe. The island of Alcatraz has become one of the most popular attractions in the Bay Area and its stories live on.

Nexity and the Us Banking Industry

Introduction of Nexity3 I. External Analysis3 A. Industry and Demand Analysis3 B. PEST Analysis6 II. INTERNAL ANALYSIS9 A. Resources View Analysis. 9 B. Value chain analysis10 III. Nexity Financial analysis12 A. Nexity bank business model and strategies. 12 B. Nexity Financial Analysis. 13 IV. SWOT ANALYSIS15 V. TOWS ANALYSIS16 Conclusion17 Introduction of Nexity Nexity is an online bank, which was initially called the People State of Grand and it was opened in February 2000. Its headquarters are located in Birmingham, Alabama, USA.Currently, David Long is the President of Nexity and Greg Lee the CEO. The turnover represented an amount of $13,018 millions in 2003. Banking online is a very good opportunity for the banking industry, there was a projection of 67 million of American using it by 2007 compared to 38 millions by 2003. There were a lot of players in this competitive market but Nexity had a generic strategy of differentiation by spreading its geographic and demographic custom er base throughout the US. External Analysis Industry and Demand AnalysisHistorically, there was a rebound of the banking industry and rapid growth in this area after the Great Depression and World War II, with the hope to keep the industry from being highly concentrated. Indeed, the US banking industry was a fragmented and dispersed system but it changed in the 1980’s. These changes were due to financial legislation which wanted to lead to a more integrated financial system in US in terms of activities and products The deregulation led to consolidation and consequently to new rivalry.Helped by the Gramm Leach Bliley’s Act offering extended banking but also by the changes in communication and information technologies, the US banking industry knew a merger mania and a lot of acquisitions were done. All had the same goal : to develop a more national brand recognition in a market newly concentrated. But scandals also appeared due to these new changes. Concerning the size of the industry, it is obvious that the concentration could be seen between 1980 and 2002.Number of institutions declined from 14,434 to 7,887 contrary to their branches which raised a lot from 38,738 to 66,185. However it is important to make the distinction here between two types of banks. At first, there were the brick-and-mortar banks and then appeared the virtual ones, such as Nexity. Now, let’s compare Nexity in the US virtual banking environment by a review of the main actors performances in 2002. |Institution |Assets (in thousands) |Deposits (in thousands) | |E*Trade Bank $17,453,676 |$9,157,328 | |ING Direct |16,142,091 |13,112,826 | |NetBank |4,280,899 |2,479,421 | |Principal Bank |1,967,342 |1,826,018 | |BMW Bank of North America |1,149,732 |156,983 | |National Interbank |645,448 |528,516 | |Nexity Bank |501,167 |368,523 | |American Bank |472,181 |336,288 | Here we can see that Nexity is the 7th virtual bank on the market in terms of assets. More important, we also notice that E*Trade Bank and ING Direct are the first and second ones, with a huge gap separating them from the others, among which competition is really hard. Porter’s five forcesEven though there are less and less institutions since the 1980’s, there is still a high rivalry among the competitors in virtual banks. Clients are more and more oriented to the more rentable channels like internet and ATMs. Virtual banks consequently deliver a lot of services but only through internet that allow to reduce costs in occupancy and salaries in order to offer better rates of interest (to 3 times better than averages). Virtual low-costs positioned banks compete against other virtual banks with good customer service, in-house costumer data and service center operations, strong management teams, a good mix of attractively priced products, and low marketing costs.It’s a price competition which includes lower margins directly. What about the entry barriers with potential entr ants? It is a low threat. The largest barrier to entry is the expenses in founding a bank: a new bank needs to raise 8-12 million to begin operations. But start-up costs for virtual banks are much less expensive than for traditional banks: virtual banks could begin operations for millions less than traditional banks (no offices, etc. ) , even though they’ll have to invest a lot in marketing and advertising budgets in order to attract depositors at the start-up time. The second barrier is loyalty to older, larger, and more established brand-name banks.Here we can talk about a network effect. And third, an existing bank holding company provides investments and backing for the new bank by spinning off a separate banking entity. Concerning the substitutes, the only ones could be traditional banks because people need safety and want to be sure about their money by advices. There would be a switch from virtual banks to brick-and-mortar ones, because people are deceived or want to e xperiment again the first one, with a better consideration of its advantages. But there is less possibility for this than the opposite because people want more and more to gain time. That’s why there is a low threat of substitutes. Clients are the buyers.They have a relative bargaining power especially on the rate of interest on borrows. The first have an interest to bargain and have a bargaining power because of the rate of interest as a complement revenue and because banks need liquidity to operate. He can have some influence on the bank with other clients. Word of mouth works a lot with a service you use daily. Brand recognition also can be negative. Suppliers: They are the companies that provide inputs/services that banks purchase in order to be able to borrow and lend money. It can be a safety certificate for online web, labels†¦etc. With an environment impacted by scandals, they can have a bargaining power but it is still relative because there are a lot of supplie rs. ==> Internal rivalry, Buyers and Suppliers are the strongest forces in the US online bank industry, whereas potential entrances and substitutes are the weakest.Key Success Factors can consequently be defined for this industry: forecasting all the marketing and communication budget for implementing and then keeping talking about the bank for new customers; using the more rentable channels for the customers; offering low rate of interest in borrowing and high for revenues to client and convincing people of the value of virtual banks ; implementing more and more safety with technologies. PEST Analysis One of the main points in the external analysis is the PEST analysis. The goal of this part is to determine which are the main external forces affecting the US banking industry.Then, we will introduce and analyse in the following development which factors impact directly positively or negatively this sector in dividing them on the political, economic, social and technological views . On the political view, the US government has a place of protagonist in the current US banking system. In fact, US government launched series of laws which have completely changed the US banking landscape such as the Reigle-Neal Interstate Banking and Branching Efficiency Act and the Gramm-Leach-Bliley Act. The first one allowed a bank holding company to buy another bank anywhere through the United States without taking into account the state law. The second one allowed affiliation between banks, securities firms and insurance company.Logically, this deregulation, or the opening of state market that it includes, has strongly impacted the US landscape in increasing the competition on the national area. Moreover, the deregulation led to a merger mania that is to say institutions use a process mergers and acquisitions in integrating vertically and/or horizontally in order to have more costumers and so to gain market shares, and to develop the range of products and services. Finally, t he impact of the US government could be seen as an opportunity for banks (the biggest currently) which got out as leaders to the deregulation and merger mania because the market is bigger but as an threat for banks which went to bankrupt.It’s significant to notice how the Fed affects the economy and the US banking system through the actions on the real interest rates. In fact, because the Fed can set the nominal funds rate as a sole supplier of reserves for US banks. But it can influence too the real interest rate thanks to the set of the monetary policy that will operate in the future (the monetary policy of tomorrow influences the real interest rate of today). Then, the Fed has a direct impact on the level of the real rates and consequently on the whole of economy. For example, if the real rates are lower, the activity of banks will increase because borrowing costs will decrease and investments from households will increase in order to buy goods or services.Increasing of co nsumption from householders will boost the different industries which will invest in capital, in production capacity or in labour (decrease of unemployment). Reducing real rates will get investments as common stock more attractive and will boost the US internal business in limiting imports because the foreign exchange value of the dollar is reduced and so, the foreign product get more expensive. On the economic point of view, multiple factors should be taken into account. One of the most significant points is the interest rate which is developed upside. Finally, that represents an opportunity if the real rates are declining and rather a threat if it is growing. Moreover, other non-negligible point is the purchasing power of households.In fact, according to some economic theories, an increasing part of households’ consumption is oriented to service expenses on the one hand, and, on the other hand, other certain part of it matches to savings. Generally speaking, a growing purch asing power represents an opportunity for banks because deposits increase and the banks are more resources for investments on financial markets. But it’s essential to notice that two significant elements have a direct impact on the purchasing power of households: the unemployment rate and the inflation rate. Effectively, if the unemployment rate is increasing and/or if the inflation rate is superior to the increasing rate of wages means that the global purchasing power is decreasing.Social factors impact directly the US banking system because of the diversity of the population, the demography, the differences of client expectations concerning bank services†¦ all of these elements play a role on the behaviour of the clients. The first point that we have to take into account is the fact that an average costumer want to have trust and confidence in his financial institution. That’s why banks have to reassure their clients about the financial health of the institution , about the quality of the offered services and about the security of the operating system. That is a positive impact for oldest bank which have developed a brand name and focused on a client-loyalty strategy or for biggest institution which bring proof to the financial health. But through the analysis of the demography, we can categorise the population.For example, old people prefer to keep a physical contact with the banker in opposition to youngest people which have more confidence and more ability to make financial operations on new channels as internet. Moreover, we can distinguish clients in function of their expectations: long-term engagement combined with quality of services against short-term engagement with profitability (hit-an-run costumer for example). This categorisation of the population linked to a particular behaviour can be seen in parallel to the age, race, social level, kind of job occupied†¦ then we can say that it’s more an opportunity for tradition al banks which offer a largest range of products and channels.Concerning the technological factors what is significant to put in relief is the technological improvements perceived as an opportunity for banks and the threat of hackers linked to this news technologies. In fact, thanks to the technological improvements, banks have more and more ways to meet the consumers themselves and these needs. Banks use different ways to satisfy clients such as ATMs, debit cards, call centers and telephone banking, wireless banking and internet sites. These are channels to keep a constant contact with the client for different reasons and to be all the time available to respond to any demand. Moreover, banks develop strategic technology partnerships (like Fiserv for Nexity for example) in order to save the cost of technology and to have the last updated software.Updating software limits the risk of hacking and restores confidence of clients about the security on the account financial information. B ut even if a regular updating software and a reinforcement of the security, the threat of hacking stays pervasive. Furthermore, with the development of internet, we have seen emerged a new kind of competitors for the traditional banks which are the virtual banks as Nexity or ING Direct. INTERNAL ANALYSIS Nexity gets the opportunity to growth quite fast and its profitability could be High. In order to understand the most appropriate strategy of the company, we will try to highlight its different aspects by presenting its Resources View Analysis and its Value Chain. A. Resources View Analysis.As the matrix exhibit 7 shows us, the company benefit of a high improvement of its assets that reinforce its capacity to provide a high level quality range of products Tangible asset: Due to its activity, the company owns few tangible asset. In fact, its services allow it to only get some offices from its acquisition of People bank of Alabama with 30$ in asset. The company have also a competitive advantage thanks to the location of its call centre that facilitate the exchange of data between the main office and the call centre. Intangible asset: By getting a top tier award from Bankrate for its High yield on money market accounts and certificate of deposit, the company proves to its customers its efficiency and in capacity to provide good quality products.By acquiring People bank of Alabama, Nexity has get as well a know-how of over 100 years, which gives it a significant advantage compare to its competitors, as it has enjoyed the different expertises made by the former company so it has been able to produce High quality products but also reinforce the formers one adapting them to the new requirement of the market, and it remains also a good point for its advertising with it customers: they can focus it with the over 100 year of experience which people are sensitive with. It also ahs the Web Trust Seal accreditation that is a certification from the services of the American Institute of Certificate Public Accountant and the Canadian Institute of Chartered Accounts. It proves that its website delivers safe services. So it reinforces the trust its customers give it but also can be very useful in order to attract new one and to spread its market.Capabilities  : By getting its break-even point in only 18 month, Nexity has a strong competitive advantage compare to most of its competitors that usually get it in 3 years average. That is to say the company can invest money in R&D for example in order to create and provide highest quality product. It proves that the company realises large economy of scale, that it is highly efficient to get result and it is as well relevant that it is very successful. Its renowned customer service, which has a very good image with its Customer, as it remains friendly and quick, allow the company to keep its customers as they trust it to give them High quality services.It is the result of the proximity between the main office and the call centre: employees are able to provide High quality answers to customers as they keep being updated about the characteristics of the products and services and the evolution of them. The competitors cannot give as quick answer as Nexity does because they might have their call centre farer away from their office, and maybe abroad, sot hey cannot give more relevant answer as Nexity does. By reimbursing customers using other ATM than Nexity’s ones, the company can meet some weaknesses as it costs it quite a lot of money Value chain analysis Firm infrastructure: The firm has a main office with all the facility costs to support, and its call centre with the same type of costs.So all those generic costs are not a constraint for Nexity and they can concentrate their budget to the R&D or to the improvement of its strengths such as the customers service. Human resources management: The main cost is due to the call centre as the company is very focused to give a high custome r service. Technology development: Nexity website is highly renowned as it gets the Web Trust Seal accreditation, which is a proof of quality for a company that uses the Internet for its distribution channel Inbound logistics: As the company provides services, it only has to increase if necessary its tangible and intangible assets. So it has not have to deal with any inbound logistic and it is a strength for its economy of scale politic. Operation:This might be the main department of the company as employees from the call centre with present the different product but also supply strong customer services; and those to point are the most important one for the firm to provide a competitive advantage compare to its rival. Marketing and sales Focusing on an Internet-based advertising channel like Bankrate. com, the company invest quite a lot to improve its visibility in order to attract as many people as possible throughout the 50 states of the USA. The fact that Nexity proposes a lot of products and services constraints them to spend a lot because they want to provide the best services. This is the result of adopting a differentiation strategy based on reducing costs. Services:The company provides a strong customer service in order to keep them as they can be very versatile and find another bank if they are unsatisfied. So it is very important for Nexity to be focused on that and the fact that call centre employees are close to the main office give them a qualitative advantage as people mainly remains satisfied. Nexity Financial analysis A. Nexity bank business model and strategies. Nexity bank is a virtual bank wich works only on internet and earns money from interests rates based on loans. Nexity is build from traditional banking practices, that means this bank is able to deliver all the advantages and financial products[1] as a normal bank but with no branche.David Long and the others managers decided to applied for their bank the  «Ã‚  Blue Ocean Strategy  Ã‚ » wich links at the same time  «Ã‚  differentiation and low costs strategies  Ã‚ ». One can talk about blue ocean strategy, because the market was not established and competitors were not really present in this sector. This strategy aims to create a new market space and to make competition irrelevant. Nexity’s builders knew that, if they were able to propose at the same time good quality products with attractive interest rates coupled with an efficient call centre they will earn market shares and money. These criterias permited to develop the Nexity’s strengh, and one can observe that the differenciation is based on these same criterias  : an efficient call center and good quality product at the lowest price.If Nexity has attractive interest rates, is just because, it doesn’t have to pay high overhead costs (no branche) so Nexity can pay more interest on deposits and charge lower rates on loans. This is the second part of the  «Ã‚  bleu ocean strateg y  Ã‚ », the  «Ã‚  low costs  Ã‚ » strategy because adopting this concept Nexity attracts price-sensitive consumers. Nexity has the lowest interest rate for the cheking but has the highest for One-year Certificate Deposit and Money Market. That means, Nexity wants to keep its consumer. Nexity doesn’t want to be a simple bank where consumers only want to check their accounts. Nexity prefers to have people whose need loans and are engaged with the bank. Moreover, Nexity proposes bank’s services and bill pay online.With these offers, the bank aims to work with people between 32 and 49 years old, with an income average of $81,600 and investible assets of $320,300 and these persons spend at minimum 27 hours per week on the internet. So these people have money and spend many time on the internet that permits to the bank to benefit of  «Ã‚  good quality  Ã‚ » consumers. Finally one can underline that Nexity adopt also the  «Ã‚  low cost strategy  Ã‚ » for its ad vertising. In fact they did all their advertising on the Internet so they benefited of a huge advertising compaign at the lowest price. Nexity Financial Analysis. Previously, one observed the strategies employed by Nexity in order to become an important actor in the US (virtual) banking industry. Now, it’s important to know if these strategies are efficients or not.Firstly, if one look at the bank net income growth, one can observed that the net income had grown by 181% in 3 years, from $-3,032,000 in 2000 to a profit of $2,461,000 in 2003. This is really important growth wich reflects the good health of the business. [pic] Evolution of the net income between 2000 and 2003 One can also observe if the bank respects its strategies. The turnover has grown by 250% in three years wheras the overheads grown by only 16%. So Nexity respects the strategy of keeping overheads costs low in order to offer interesting interest rates. If one looks at the distribution of the turnover betwee n the interest income and noninterest income, it can observe that the Nexity makes 97. 1% of its turnover with interest rates and only 2. 79% with the noninterest rates. Secondly, it is interesting to observe some financial ratios  : – The coumpound annual growth wich gives the annual growth rate. And for Nexity, this ratio is around 30%. It is a good indicator for the company’s development. – The return on equity, wich is relevant for a bank because it gives the bank’s profitability by revealing how much profit the bank generates with the money shareholders have invested. For Nexity, the ROE passed from -32,71 in 2000 to 12,99 in 2003. One can easily observed that in three years Nexity learnt how to make money with shareholders investments. The efficiency ratio evaluates the overhead efficiency structure of a Financial institution. Banking is no different from any industry. If the bank wants to survive the bank has to keep overhead costs down.The effic iency ration permits to measure how the bank is operating, how much money the bank must spend to generate each dollar its bring on. In the Nexity case, this ratio is getting lower and it is good for the bank ans its shareholder. . In fact the ratio passed from 230. 69 in 2000 to 63. 54 in 2003. Lower the ratio, better it is for the bank. So, one can conclude that Nexity respects its commitments because the bank makes money from interest rates and keeps its overhead costs low. SWOT ANALYSIS STRENGHTS |Large range of product | | |High satisfaction of customers | | |High quality of customer services | | |Many awards from Bankrate( high quality of products | | |High efficiency of the website( Web Trust Seal Accreditation | | |Strong expertise thanks to the acquisition of People’s bank of Alabama (over 100 years of | | |experience in the Banking sector) | | |Growth of its assets (over + 400% from July 00 to July 2003) | | Good compound annual growth | |WEAKNESSES |Some costs can b e avoid (ATM reimbursements) | | |Increase of other borrowed funds that has to be controlled | |OPPORTUNITIES |Impact of the American government with the deregulation of the market ( advantages for | | |leaders | | |Internal rivalry buyers and suppliers | | |Forecasting all the marketing and communication budget | | |Bank and bill pay online customers present the most interesting profiles (high income and | | |lots of investable assets) | |THREATS |Hard to attract new customers as they rely a lot on their old financial institutions. | | |Hackers | | |New competitors should appear | TOWS ANALYSIS |STRENGHTS |WEAKNESSES | | |Large range of product |Some costs can be avoid (ATM | | |High satisfaction of customers |reimbursements) | | |High quality of customer services |Increase of other borrowed funds that has| | |Many awards from Bankrate( high quality of products |to be controlled | |High efficiency of the website( Web Trust Seal Accreditation | | | |Strong expertise thanks to the ac quisition of People’s bank of | | | |Alabama (over 100 years of experience in the Banking sector) | | | |Growth of its assets (over + 400% from July 00 to July 2003) | | | |Good compound annual growth | | |OPPORTUNITIES |Improve the advertising on internet and traditional media channel in |Open a new office in another state in | |Impact of the American government with the deregulation |order to get new customers |order to understand the market of the | |of the market ( advantages for leaders |Make advertising on the financial media (magazine, news papers†¦) in |western state that have a different | |Internal rivalry buyers and suppliers |order to target a segment that have high income and asset to invest |demography (different insurance depending| |Forecasting all the marketing and communication budget |(managers, directors, institutions†¦) |on the state( natural disaster) | |Bank and bill pay online customers present the most |To hire a good communication manager t o improve the visibility | | |interesting profiles (high income and lots of investable|Propose investment solutions in order to propose high yield products | | |assets) |(for institutions and high income) | | | |Improve more and more the quality of services given by the call | | | |centre to customers | | |THREATS | | |Impact of the American government with the deregulation | | | |of the market ( advantages for leaders | | | |Internal rivalry buyers and suppliers | | | |Forecasting all the marketing and communication budget |Improvement of the quality of the web platform in order to propose |Invest in getting its own ATM system in | |Bank and bill pay online customers present the most |safe services |order to avoid reimbursement and do | |interesting profiles (high income and lots of investable|Improvement of the back up system |economy in long term keep doing its | |assets) | |strategy based on low costs | |People are mistrustful with bank on line | | | | | | |Even if we could sugg est many recommendations, we would choose the SO strategy: the company has to reinforce his strengths as the market can involve positively and it can really propose a competitive advantage compare to its competitors based on the low prices of its products. Nexity would need to be focused on improving its marketing and communication but as well the quality of the websites to win the trust of customers. Conclusion As one said in this paper, Nexity bank has many strenghts which allow it to be one of the learder on the market. Moreover they apply correctly the blue ocean strategy which allow them to generate more profits and to count more clients, but senior executive can not stay on these basis. If they want Nexity to be the number one into this business they have to improve their capacity of attractiveness towards potentials clients.

Apple Inc. A Model Of Eight Steps For Change Management

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