Service Management Assignment Example | Topics and Well Written Essays - 750 words - 1

Service Management - Assignment Example The factor that is driving the change in strategy is the maturity and experience they have gained as solicitors over a long time they have as an independent firm. Furthermore, the fact that the number of clients they have is not growing, hence, they plan to find ways of increasing the number of customers. Another fact is that Smith and Jones want to be more visible in the market, and expand their business by employing another solicitor, who will assist them (Johnston, Clark & Shulver, 2012). John Smith differentiated his firm from the competition by noting that other solicitors believe that the business grows on its own, and they should just sit back and watch. Conversely, his firm is different since they work hard to maintain a client by ensuring that they come back and refer them to their friends (Krajewski, Ritzman & Malhotra, 2007). Their firm does not just wait, but treat their clients well by excellent communication, and providing good services to both the personal and commercial clients (Greasley, 2008). John Smith differentiates his firm from the competition by stating that their firm does not abuse their clients, and do believe that all customers are not happy with their solicitors. With this concept, John knows that their firm operates differently from her competitors and is more careful when it comes to handling their clients (Metters, King-Metters & Pullman, 2003). The changes John Smith will need to make to the operation include making efforts in selling their services. This can be achieved by putting a brochure together and list the extra services they provide including the steps they can take in order to receive the services. The change John Smith would need to make is to find good services that are related to their initial job. The services might include offering guiding and counseling, and teaching ethics, morals and ways of running their business

The Impact of Global Economic Crisis on the organizations in oil Essay

The Impact of Global Economic Crisis on the organizations in oil producing countries - Essay Example The economies in Middle East, which were then among the fastest growing in the world; primarily driven by the soaring crude oil prices, were first considered immune, but by 2009 it began affecting the region including Gulf Cooperation Council (GCC) States. Most of the economies including UAE, Qatar, Bahrain, and Kuwait suffered significantly, due to the steep decline in their housing markets, which formed the crux of economic development in these countries. Saudi Arabia Economy: Saudi Arabia, which is the largest economy in the region, too suffered dearly due to its heavy dependent on crude oil, whose prices had retreated at record pace in 2009 (Berkmen et al., 2009). The impact of economic crisis was felt by the firms not only because of the dependence on oil, but also, as a result of numerous government controls over the main economic activities in the economy. The country has at least 25% market share of the world’s petroleum reserves, is regarded as the largest petroleum exporter in the world and plays a very crucial in OPEC deliberations and decision makings. The petroleum sector takes up to at least 55% of the GDP, 90% of export earnings and 45% of all budget revenue. 40% of this GDP is from the private sector. At least, 5.2 million workers play a vital role in the Economy of Saudi and especially in the service and oil sector. In order to reduce the dependence on oil, the government of Saudi Arabia had been encouraging the private sectors to increase the employment opportunities for the fast growing population. It has also begun to allow the participation of foreign investors and private sectors in the Telecom and power generation sectors of the economy. It was expected that the move will motivate other countries in the region to also embrace the concept in their economies. Strategies to diversify the economy and attract foreign investment into the country were given a boost when the government succeeded in joining the WTO in 2005, after many years of negotiation. This success and the high revenues from the oil, then further enabled it to build a very large budget surplus and easily facilitated expenditures on education, infrastructural development, increase government salaries, and make investments in job trainings and other timely and critical developmental projects. This no doubt lay the foundation for the economy to develop in a balanced way, as foreign companies were able to earn significant prof its, and in the process transfer hundreds of job skills to local employees, even as the country continue to earn billions of dollars from the sale of oil. The purpose of this proposed research consequently, is to critically examine the impact of global economic crisis on the financial performance and financial position of Saudi Basic Industries Corporation (SABIC), which is the largest listed company in Middle East region. This will entail the strategies used to obtain the results that the financial ratios and other statistical and analytical tools generated, during the study. The financial