How to Write a Letter of Continued Interest TKG

How to Write a Letter of Continued Interest One of the steps that we suggest after being deferred is to write a letter of continued interest. When you’re in limbo, it’s completely understandable to get stressed out and overwhelmed, but trust us when we say that taking steps to contact your dream school will alleviate some of your anxiety. There are no guarantees, but you do have one last chance to double down on your interest in X school. Before you start the process of writing a letter of continued interest, it’s crucial that you understand that these letters should not be sent to every single school that you got deferred from. In your letter, you should tell them that X school is still your top choice, if those words don’t ring true to you, you shouldn’t write one at all. If after reading this you’re sure that you want to reach out to the school, call them and ask who you should send the letter to and keep the contact information handy for when you’re ready to send. The Process: Read everything that you’ve already submitted to the school. What do they know about you? Did you leave anything out? If there is any information that you didn’t have space for in your original supplement, make note of that. Make a long list of reasons as to why you want to attend X school. Write down everything that comes to mind. Then, cross off at least half of the list. You should remove anything that isn’t specific to X school (weather, “I want to major in English,” sports culture, etc.) This is because you can find these things at hundreds of other schools. Once you’ve narrowed down your list, dig deeper. For example, saying that you want to major in English is not enough, but there could be upper-level classes that you want to take. Perhaps there’s a professor running a creative writing track, or a special program within a school. At this point, you’re starting to gather information for what should be included in your letter. You should have at least three highly specific bullet points tha t could be related to courses, professors, special opportunities, organizations, etc. Think about why you’re “qualified” to take advantage of those opportunities. What have you done to prepare yourself? If you want to major in Sustainability, and you’ve been working to improve the recycling program at your high school, that would be a good reason. If there’s a professor that you want to work with, you might explain that you just finished reading their most recent research proposal to prepare yourself for the potential opportunity. Let’s discuss what this information should look like, although you’ll need to add more at the end. After introducing yourself and including your reference number, you should state that you’ve been deferred and are writing to update the admissions team. This will look slightly different for everyone (we don’t know your life) but you should then pick your strongest reasons for wanting to attend, and craft a narrative around those facts. It could be classes, research, opportunities to work with professors, or all three. But as you’re writing, make sure that everything ultimately links back to your accomplishments. Yes, you go to school to learn, but the purpose of this letter is to show that in addition to growing as a person by attending X school, you also have a lot to offer to the community. After you’ve done that, you need to let them know what’s been going on in your life. You should include your first semester grades, an additional letter of recommendation, and an update on your involvement with your extracurricular activities and job, if you have one. The students who eventually get into competitive colleges after being deferred have not only continued their activities, they’ve stepped things up a notch. They don’t give up and hope for the best after they hit submit. And if you’re genuinely interested in your activities, you should have kept at it. Detail any accomplishments that you’ve had since applying, but don’t stretch it. It should all be related to your original application. When we write letters of continued interest with our clients, they are no longer than one page (single-spaced) when typed in Word or Google docs. If your letter is longer, you’re either including unnecessary information, or you haven’t edited enough. Re-read your work, and while we think all of the information above should be included, it can and should be in the order of your choosing. Before you hit send, revisit your original application one more time. The letter should read like a follow up to your original application. We find it helpful to read the original supplement and then immediately read the letter. If it paints a cohesive picture, you’re ready to send. Contact us here if you’re not sure where to start.

Critical Thinking Compare and Contrast Essay Free Essay Example, 1000 words

Both the authors are trying to promote the idea that the medical staff acted in unethical and lazy manner because even after seeing symptoms of Ebola, they allowed the patient to go home and they lack the motive to treat the patient. The authors believe that the patient could have survived if he would have been provided with proper treatment initially. One of the logical fallacies that the authors have followed is that of appeal to probability. The author states that since the patient was returning from Liberia, he might have been infected by the virus. It has not been clearly known whether African nations are the only nations that have experienced wide spread of Ebola virus. Stephenson states in a scholarly article that most of the cases of Ebola have been witnessed in African regions but the threat of cases emerging in US are even quite high (Stephenson, 2014). The evidence provided by the authors to hold the medical professionals responsible for the death of Duncan are quite effective. This is because the signs and symptoms that have been reported by Duncan on his first visit to the hospital provide a clear indication of Duncan experiencing Ebola virus. We will write a custom essay sample on Critical Thinking: Compare and Contrast Essay or any topic specifically for you Only $17.96 $11.86/pageorder now For example: the author states that the medical staff reports that Duncan was experiencing fever of 100.1 degrees, abdominal pain as well as headache and these symptoms within a time frame of two days and all these symptoms have been reported by Jamieson and other researchers in their scholarly article (Jamieson, 2014). It is not necessary that the death of Duncan was purely the laziness of the medical staff of the hospital he visited. There may be other reasons due to which the medical staff would have failed to diagnose Duncan at an earlier stage. For example: Duncan himself might have not clearly reported the signs and symptoms and the signs and symptoms of the patient might have been inconclusive to determine whether Duncan was actually infected with the virus or not. The statistics used by the author, Sack are descriptive in nature but n descriptive statistics have been used by Philipps in his article. Sack provides descriptive statistics on the claims made by the medical staff of the hospital that was visited by Duncan initially and Sack even provides the descriptive statistics that were reported in the health records of Duncan. For example: Duncan was experiencing fever of 100.1 on his initial visit. The most significant information that the authors have not focused upon is whether Duncan had provided the medical staff with the correct information or not.

What Makes a Serial Killer - Free Essay Example

Sample details Pages: 5 Words: 1648 Downloads: 5 Date added: 2019/06/26 Category Society Essay Level High school Tags: Serial Killer Essay Did you like this example? For those who share a love for psychology we often might wonder what goes on within the mind of a psychopath. The question I am pursuing after is what makes a serial killer and what could done to prevent a developing psychopath?. By pursuing this question I hope to gain more information on why certain individuals think and act the way they do and what are the causes. Don’t waste time! Our writers will create an original "What Makes a Serial Killer?" essay for you Create order This question is important to me because its something that interests me and I would like to pursue a career in forensic psychology. This question matters because learning information of such topic allows me to connect with other future psychologist. Connecting with others not only allows me to share information but also learn something new. When some individuals think of the question why do serial killers kill, the answer is usually because their crazy. I think of it as yes their crazy but what makes them that way, was it caused from child abuse, did they grow up to be that way, or is there something wrong in their head. Their might be someone who isnt as interested in topics of such sort but still might want to learn about such individuals; which makes the question even more important. For future Forensic Psychologist, i believe that learning such information enhances our ability to understand people on a higher level. It doesnt necessarily have be a psychopath it could just be a regular person, maybe a friend; the more you can relate and the better you can understand that person or friend the stronger the relationship will be. I will be doing one personal interview of a former Forensic Psychologist, and a ted bundy interview from youtube. I will be providing secondary sources which are journals that focuses on the Psychological mind. I will also be providing academic articles which explains what makes a serial killer, then i will have two research documentaries to provide extra information needed. By using these sources I will able to give a thorough answer and explanation to why do serial killers kill. One of the most common Psychological questions is whether killers are born or made. Many serial killers suffer from childhood trauma whether its physical or emotional abuse, it seems to be the number one reason they turn out the way they are. In some cases not all former killers come from abusive households for example, Ted Bundy a former commander of air force grew up in a two parent loving household. There is no evidence of trauma within his childhood but there is suspicion as to why he started killing at such a late age, his early 40s. The maine trait for a psychopath is usually the lack of conscience caused by trauma within childhood. Developing as early as a infant, that trauma suppresses their ability to have an emotional response. Growing up not knowing how to emotionally connect with others makes it difficult to have empathy. Some grow up learning the art of masking feelings thats why most serial killers can raise a family then that night can go out and kill, they have second lives. In one to six killers are females different from male serial killers, women are harder to catch. Instead of torturing the victim women tend to manipulate, its all about control to them rather than sexual arousement. Being diagnosed with Munchausen Syndrome by proxy Aileen Wuornos was a prostitute that would kill her victims. Female killers are the complete reversal of their former gender, killing the image that women are supposed to uphold nurturing roles. The most recognizable disorder is Antisocial Personality Disorder (APD) which correlates with psychopathy, even though not all psychopaths turn out to be killers. Psychopaths comes with multiple traits such as manipulation, intimidation and charm causing them to be labeled as serial murders. When it comes to examining the brain psychopaths tend to show a significant amount of difference compared to the normal human being. Typically having a lower heart rate, reduced prefrontal gray matter within the brain, and amygdala abnormalities even though these findings does not mean we should always expect them when dealing with psychopaths. Other mental conditions we can consider is Borderline Personality Disorders (BPD) consisting of anxiety, paranoia, suspicion of others, and emotional instability. A psychopath who is diagnosed with BPD can become very paranoid and shows no empathy towards others, if one displays all traits at one that can result in loss of life. Suffering from a sudden tra umatic experience can cause the killings to multiply making them psychopathic serial killers meaning the killing was premeditated. Schizophrenia mixes with serial killers who will have confused thoughts and would usually have premeditated murders. Reading these two articles I learned that most serial killers are born from traumatic childhood experiences resulting in lack of empathy and showing impulsive aggression. Diagnosing them with mental disorders can sorta provide us with an explanation as to why they feel the need to kill. Serial killers, mass murderers, and spree killers all engage in extreme violence but yet they differ based on who perpetrates them. A mass murder is someone who can get fired from their job gets mad then decide to walk outside and kill innocent bystanders. Theres no thought or plan put into action when it comes to defining a mass murderer. A spree killer is sorta like a mass murdered no plan of action, acting off rage, and killing innocent bystanders. To be considered a serial killer there are certain categories you have to fall under. With a minimum of three murders there must be a time period between the murders to determine that its not just a fit of rage. Having a sense of dominance killers tend to select a victim by their vulnerability, they will not choose a victim if they do not feel the mission will be accomplished. The victim will either be someone on the street or a prostitute, which plays a part in developing patterns. Normally the victim would choose based off race and ge nder, they pick individuals with similar traits closest to their preference. They stalk their victims for a period of time until they feel the time is right to attack. Serial Killing is usually not expressed through rage, with having slight schizophrenia they have a drive to kill sorta like an uncontrollable pleasure. The majority of serial killers are organized,mostly having patterns. There are some that are nonsocial or asocial meaning they are either excluded by society or themselves. Most serial killers are intelligent caucasian males aging from their 20s to 30s. You will not be able to tell a serial killer from their appearance they appear to look the same as everyone else for example, ted bundy was described as attractive and articulate. John Wayne Gacy was a public figure within his community who would dress up as a clown at local parties. Serial killers display three behaviors within their childhood known as the Macdonald Triad: arson, bed-wetting, and animal cruelty. One of the many question i had was why do serial killers have patterns, i learned that their patterns are based off of how and what they previously experienced within their childhoods. I understand that there are female serial killers but most of the time the killer is going to be male. To know that serial killers are just like other human beings with a wife and kids is strange because before reading this wouldve thought they would be all crazy and unstable. During my first personal interview I asked question such us can psychopathic traits be inherited through genetics, does one traumatic experience alters their brain negatively, etc. I interviewed Dr Kelsey Maloney who is currently a forensic psychiatric she provided useful information in regards to my question. One of the ten questions I asked was is there any treatment provided to help those who are developing psychotic traits. Typical therapy is provided but there is caution, killers tend to manipulate other people by acting like them or masking their feelings. Instead of discussing about how did they feel or did they regret the crime they commited, therapy is usually the act on thoughts. Discussing their thoughts allows you to place yourself in their shoes developing a compassionate role showing them that you care. Since psychopaths are usually antisocial the main goal of therapy is to break down their emotional detachment making them more vulnerable. The next step is to put them i n a position to where they would be comfortable expressing their emotions this is done by using schema. Schema is the aggression and intimidation that tends to take over when their placed in an uncomfortable position. During this interview I had many questions but this one was the most important one. I learned there is treatment provide for those who are developing psychopathic traits, does it always work? No but at least there is something to help. I have watched many documentaries or just regular videos on the mind and the psychological traits of a serial killer. One of the two videos ive come across is called inside the mind of a serial killer. Serial killers like Ted Bundy and John Wayne meet the criteria for psychopathy displaying sadist behavior meaning theres enjoyment in knowing their victims are suffering. Most serial killers are loners, men with multiple failed relationships they kill, hide the body, and then move to next. The reason for this is they lack knowledge of how to maintain a romantic relationship. Ted Bundy would be described as the most violent serial killer in America confessing to 36 murders. Growing up Teds mother told him his grandparents were his parents so he grew believing his mother was his sister. He grew to be handsome and very well educated studying psychology around the time a female disappeared. Teds victims were usually attractive young women with dark hair.

Accounting Standards and Their Importance - 2255 Words

Accounting Standards and Their Importance AS-1: DISCLOSURE OF ACCOUNTING POLICIES The following is the text of the Accounting Standard (AS) 1 issued by the Accounting Standards Board, the Institute of Chartered Accountants of India on Disclosure of Accounting Policies. The Standard deals with the disclosure of significant accounting policies followed in preparing and presenting financial statements. AS-2: VALUATION OF INVENTORIES A primary issue in accounting for inventories is the determination of the value at which inventories are carried in the financial statements until the related revenues are recognized. This Statement deals with the determination of such value, including the ascertainment of cost of inventories and any write-down†¦show more content†¦Financial statements disclose certain information relating to fixed assets. This statement deals with accounting for such fixed assets. AS-11: ACCOUNTING FOR EFFECTS OF CHANGES IN FOREIGN EXCHANGE RATES The following is the text of Accounting Standard 11, Accounting for the Effects of Changes in Foreign Exchange Rates, issued by the Council of the Institute of Chartered Accountants of India. An enterprise may have transactions in foreign currencies or it may have foreign branches. Foreign currency transactions should be expressed in the enterprises reporting currency and the financial statements of foreign branches should be translated into the enterprises reporting currency in order to include them in the financial statements of the enterprise. AS-12: ACCOUNTING FOR GOVERNMENT GRANTS The following is the text of the Accounting Standard 12 issued by the Council of the Institute of Chartered Accountants of India on Accounting for Government Grants. This Statement deals with accounting for government grants. AS-13: ACCOUNTING FOR INVESTMENTS The following is the text of Accounting Standard 13, Accounting for Investments, issued by the Council of the Institute of Chartered Accountants of India. This Statement deals with accounting for investments in the financial statements of enterprises and related disclosure requirements. AS-14: ACCOUNTING FORShow MoreRelatedImportance Of Accounting Standards For Business Standards951 Words   |  4 PagesImportance of Accounting Standards In this assignment I want to explain the importance of the Accounting standards. As the world economy is becoming integrated and globalization is becoming a universal phenomenon, more and more businesses are getting out of the nationalistic perspective. Today one company have subsidiary companies and plants in many other countries. One of the dilemmas that enterprises face is the increased complexity of financial reporting practices. The lack of comparability ofRead MoreThe Importance Of Accounting Standards For Business Affairs1049 Words   |  5 Pagesthat’s understandable globally and comparable across the international boundaries. IFRS initially was formed to harmonize accounting across European Union, but the value of harmonization was so overwhelming and attractive around the world that became a benchmark globally. Importance of Accounting Standards In this assignment I want to explain the importance of the Accounting standards. As the world economy is becoming integrated and globalization is becoming a universal phenomenon, more and more businessesRead MoreInternational Accounting Standard 27 : A Great Deal Of Importance On The Perception Of Control Within Group Accounts1547 Words   |  7 PagesInternational accounting standard 27 illustrates a great deal of importance on the perception of control within group accounts. This report focuses on evaluating how important the notion of control is in deciphering whether or not group accounts have to be initially created. Throughout this report the concept of control, within group accounting, will be evaluated and critically analysed to gain a wider understanding thus resulting in a relevant interpretation being produced. The advantages and disadvantagesRead MoreIntroduction. Keeping The Day-To-Day Business Accounting1588 Words   |  7 PagesIntroduction Keeping the day-to-day business accounting is not just a necessity but rather, and above all, an obligation. Financial accounting seeks to find answers to recurring questions in a business such as, how much was sold last month, how many people have used the services, and how much to produce to meet the needs of the customers. The financial accounting is a method that helps better organize and manage any business. Accounting is the science that serves to organize all the numeric recordsRead MoreCritical Review : Determination Of Accounting Standards1678 Words   |  7 PagesCritical Review Determination of Accounting Standards Ross L Watts Jerold L Zimmerman have put together this article on accounting standards and on the basis of moderately relative accounting theories and interpretations- tried exploring various factors that persuade business entities in lobbying on accounting standards. The size of the companies is also researched and concluded upon their approach towards certain accounting standards. The Data used in the article is derived from FASB’s discussionRead MoreComparing the Gaap and Ifrs1051 Words   |  5 PagesIntroduction There have been proposals that have been working on with regard to the replacement of GAAP (Generally Accepted Accounting Principles) with IFRS (International Financial Reporting Standards) as used in the accounting and financial reporting aspects. Such convergence requires that the functions of the GAAP standards be added to the IFRS. The International Accounting Standards Board (IASB) developed the IFRS which is a less-detailed financial reporting system. This paper seeks to analyze theRead MoreCertified Public Accountants ( Cpa ) All Over The World Follow Company Policies And Regulations1279 Words   |  6 Pagesand regulations. The Generally Accepted Accounting Principles (GAAP) is a standard accounting system used by accounts in the United States of America. CPAs who work for international companies use the International Financial Reporting Standards (IFRS). â€Å"The accounting standards developed, established by the Financial Accounting Foundation’s (FAF) standard-setting Boards—the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board (GASB)—determine how those financialRead MoreImportance of Ethics in Accounting1065 Words   |  5 PagesRunning head: IMPORTANCE OF ETHICS IN ACCOUNTING Importance of Ethics in Accounting Everest University Importance of Ethics in Accounting Accounting fraud is common but is not as trivial as the common cold; a typical organization loses annual revenues of nearly 5 percent to fraud. In addition, almost one-quarter of reported fraud is exceeding $1 million dollars. The accounting industry is constantly growing and changing. Consequently, difficult decisions have to be made every day. Read MoreThe Uniformity Of The Accounting Standards Essay1535 Words   |  7 PagesThe thought of introducing a uniformity in the accounting standards has been discussed for a long time in the world of accounting. In fact, a quote from Financial Times stated â€Å"The goal of single worldwide accounting language has been a dream. Today it is fast becoming a reality- and the pace is picking up.† (Carmona and Marco 2008, p.456). There have been a lot of studies done all over the world about the differences standards implement around the world. Why is it there is still no uniformity claimedRead MoreWhat Are The Impact Of Human Capita l Accounting On ShareholdersValue Of Oil And Gas Companies?1405 Words   |  6 PagesHUMAN CAPITAL ACCOUNTING AND SHAREHOLDERS’ VALUE OF LISTED OIL AND GAS COMPANIES IN NIGERIA Abstract This study evaluated the effect of human capital accounting on shareholders’ value in oil and gas companies in Nigeria. This is with a view to providing information on how costs incurred on personnel could be identified, measured and disclosed on the statement of financial position of companies as an asset which is the key factor to the successful operation in oil and gas industry. The study made

The Foundations of Social Research Meaning and Perspective in The Res

Question : Answer the following questions : (i) Explain in your own words the purpose of the research and the specific research question. (ii) What justifications have the researcher(s) provided for undertaking the research. (iii) in your own words briefly explain for one of the research articles you selected, the. (a) epistemological viewpoint. (b) theoretical perspective. (iv) Drawing on the set readings and the research articles, make a statement about your own epistemological and theoretical framework this will be assessed not on its correctness but your demonstration of how you think it through (the positioning exercise completed in Workshop 2 will assist). Answer : Purpose of the research: The purpose of Walters research is to acquire a research about the nature of social science by performing a systematic study of the society which also includes the patterns involved in it and also helps in shaping the society and the doings of the people in it. The purpose is to get the answers associated to the social life of the people and the social world. It mainly involves the finding of the science behind the social world. It is to achieve observations, interpretations and classifications about the social lives of the people. The purpose of Dunns and Nelson J.ks research is to highlight the radical forms of multiculturalism which aims at addressing the structural inequality between the ethnic groups which include the various problems of these dominant ethnic groups which have a relationship with the agencies in the states. Racism can be defined as a way of reinforcing inequality and division. There is a deeper challenge of multiculturalism in context to the key policy direction of racism (Berard, Tim J. (2005). Hence Dunn did a research of racism in Australia and showed that the burden of racism across many cultural groups is distributed very unevenly. Through the channel of media it was also shown that many ethnic minorities where either misinterpreted or under- represented in the mainstream. This showed that the minority employment in the public sectors were the over-representation of the Anglo-Australian groups. Justifications have the researcher(s) provided for undertaking the research: In Dunns research there are many justifications of racism which include social costs of it which involves the participation of the poor labour force and also its disruptive social conflicts. There is a very good establishment of the individuals on the count of racism. There is also a very strong need felt by the victims to deny the racism and challenge the deeper multiculturalism and the regular framework of the society which refers to the discourses that are attempted to prescribe what has actually been said about racism and also of the privileged people by following the method of regulation of the gender. In Walters opinion it can justified that the research is been performed by separate qualitative and quantitative methods. The major stances are that it can color and shape the present social research and can be resulted in the positive manner. It also involves in the constructionism, interpretivism, critical enquiry and also feminism. The Epistemological viewpoint: The scientific knowledge that shows only the reality that it has created before as knowledge and also defined as its object limits itself and restricts the possibility of attaining more knowledge of what can be known because it is beyond the legal ways of knowing it. Its operation consists of an institutional control in which research development reaches not only the researchers by determining their options but also their process of analysis but also by specifying what is valid to be known by this research process. So this attained knowledge is therefore the result of present convention in the world of science which is usually associated with the ontology and epistemology and it nature of positivism (Crotty, M. (1998). The theoretical perspective: The theoretical perspective consists of many areas of positivism and also different strands of interpretivism that has been among the most influential theories that exist in the research process. There are also many other stances such as the critical inquiry, feminism and postmodernism. These will be used to explain the value of adopting the theoretical perspectives that are congruent with the researchers epistemology and demonstrate the different kinds of research methodologies that come out from them. Therefore positivism states that reality contains of what is available to the senses, which includes what can be seen, smelt, touched, etc. This information is based upon scientific and therefore on empirical inquiry (Creswell, John W. (1998). Drawing on the set readings and the research articles: After analysis of data, researchers can move ahead to test the hypothesis and the various statistical tests. These test are available to find out whether the data generated through study supports the hypothesis or not (Denzin,(1994). Any number of these tests can be applied to test the hypothesis which will decide whether it can be constructed at the beginning of the study which is to be accepted or rejected. References: Berard, Tim J. (2005). Rethinking practices and structures Philosophy of the Social Sciences,35(2), 196-230. Crotty, M. (1998) The Foundation of Social Research: Meaning and Perspectives in the Research Process. London: Sage. Provides a very readable description and explanation of the major epistemological stances and how they originated. Creswell, John W. (1998).Qualitative inquiry and research design Choosing among five traditions. Thousand Oaks, CA: Sage. Denzin, Norman K. Lincoln, Yvonna S.(1994). Introduction: Entering the field of qualitative research. In Norman K. Denzin Yvonna S. Lincoln (Eds.),Handbook of qualitative research(pp.1-17). Thousand Oaks, CA: Sage.

Consumer Driven Health Care Essay Example

Consumer Driven Health Care Paper Executive Summary The issues surrounding the full adoption of consumer driven health care range from cost pressures, employer concerns and the need of effectively engaging the consumers in decision making through the provision of adequate choice and information. Until now the government has been supremely instrumental in propelling the consumer driven health care system. While the merits remain engulfed in hot debates, the fact that consumer driven health care simultaneously creates both the movement, the financial responsibility, as well as the involvement in health care choices of the consumers has created serious concerns. As the evolution moves on, all stakeholders in the health care system are going to be affected. The plans will enable the consumers to personally navigate the system and directly engage with the providers. On the other hand, the pharmaceutical sector may become educators and an intermediary consumer movement may serve to satisfy the fact that transparent information will have bec ome a necessity for health care decisions. Leveled in line with these demands, the ensuing discussion analyzes the impacts on health care in terms of costs, efficiency and effectiveness in addition to the impacts with regard to the new consumer, and the stakeholders; notably the pharmaceutical sector. We will write a custom essay sample on Consumer Driven Health Care specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Consumer Driven Health Care specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Consumer Driven Health Care specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Introduction   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Descriptively, consumer driven health care system allows individuals to draw from their Health Savings Accounts or their Health Reimbursement Arrangements or such similar payment products to directly   meet routine health care expenses while protection from catastrophic health expenses is guaranteed by a high deductible health insurance policy. These policies cost less as the consumer meets routine medical claims from a pre-funded spending account. Should the balance in the account run out, medicals claims are paid just like in a regular deductible. Yearly unused balances increase future balances that can be invested for future medical expenses. The term â€Å"consumer driven health care† applies because routine medical claims are paid through a consumer controlled account verses a fixed insurance benefit. This scenario allows the consumers to occupy the role of a primary decision maker as regards the nature of health care they re ceive. Patients are therefore more likely to choose less expensive options and for those with chronic conditions, the system would promote compliance to treatment regimes(Goodman 2006).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Proponents of such a health care system argue that in the long run, Americans will pay less for health care provision because of reduced monthly premiums and increases free market variability. Market variability due to the use of Health Savings Accounts fosters competition which in turn lower prices and stimulate improvements in the quality and delivery of health care services. Opponents of the system cite the fact that individuals who are less wealthy and less educated will tend to avoid the health care cost burden, when this is coupled to the inability to make informed decisions, then the result is lowered health outcomes. Additionally, since the system simply shifts the cost burden to the patients, those with chronic conditions will never be able to save anything. In the end, inequality in health care quality and delivery may reign(Gross 2007).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Basically, consumer driven health care system is a derivative of the business model for health e-commerce ventures which were designed to enable consumers of health products and services to engage more directly with the providers in making the health care purchases. In essence, consumer driven health care is geared towards giving individuals more choice in making health care decisions and to help stabilize these costs. This system is a product of the same theories that sought to capitates payments to providers. The rejection of such a prompt gave rise to the consumer driven health care system(Kovner 2008). In the initial conceptual model, cost and quality of the relevant information was made available through the internet. The primary model relied on the creation of   Health Savings Accounts(HSAs) before the inclusion of a second model; the Health Reimbursement Arrangements(HRAs) which are funded by the employers who receive tax benefits for funding such accounts(Grudzien 2006).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Impacts of Consumer Driven Health Care   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The phrasal representation â€Å"consumer driven health care† is in itself a revelation of the transformation in health care where consumers of health care services and goods are gaining more and more importance in health care industry. The consumers being the purchasers of goods and services in the health care industry suggests an existence of economic relationships between the consumers and the suppliers. The word driven implies that the supplier is going to be compelled to react according to the consumers’ demands and position as regards the provision of these goods and services. Implicitly, the complete phrase can thus be used to describe a situation where there exists a two way business interaction that is able not only to transform the health system structure but also reconfigure the health industry to engage in a competitive conduct. Such a paradigm shift in the management of health care is bound to present strong chal lenges, advantages and disadvantages.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   What effect will such a system of health care have on the effectiveness and efficiency of health care provision? Currently in the United States, over $ 1 trillion dollars is spent annually on health care. Critically analyzed, this is 15% of the Gross Domestic Product and is more per capita that anything spent in other developed countries. The magnitude of the expenditure itself calls for a need a novel idea such as consumer driven health care. If such a system of health care were to be adopted, then what forces will shape the new consumer of health care services? On this basis, it is prudent to discern the effects of the key players such as employers, insurers, providers, and government entities. All these forces will only support such a system if most beneficial to them. A third scale of analysis desires that we look into the ways in which the industry is going to change. This analysis borders on the certainty of a fundamental restructuri ng of the system through a set of rules governing the new competitiveness. These structural changes will most certainly be orchestrated by the new nature of buyer-supplier relationship(Ferrari 2004). The Effect of Consumer Driven Health Care on the Efficiency and Effectiveness   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   To understand the changes that may occur in the efficiency and effectiveness after the transition to consumer driven health care, it is prudent to establish the objective function which measures productivity. Generally, productivity is descriptive of the magnitude of outputs achieved for a given level of inputs. In the health care industry, the physical inputs like labor, capital and supplies should be able to achieve certain levels of health outcomes. In essence, this means that productivity will be used in providing improvements on the management or treatment of diseases since this is the fundamental production process of the health care system. However, the simplicity of the productivity measure can only be taken to be useful and sustainable if it is coupled to the variety of other societal entanglements as well as other complexities in health care provision.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Given that the current health care system in the United States is the most expensive system in the world, a comparison with other developed countries on the basis of mortality and life expectancy attests that the system is less productive. However, on the basis of four disease states (diabetes, cholelithiasis, lung cancer and breast cancer), evidence suggested that it was more productive comparative to Germany and the United Kingdom. The high costs were attributable to the high administrative costs, higher compensation of doctors and other medical personnel. Consumer driven health care poses as the most reliable option in changing features which contribute to productivity hence health outcomes. For instance, a transformation to prospective payment from cost plus system of reimbursement for health institutions. Other reimbursement plans that supremely focus on the health outcomes rather that the activity also furthers the gains(Ferrari 2004 ). Customer driven health care has the ability to create incentives for providers to adopt more efficient technologies hence increasing productivity due to the underlying market competitiveness.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Since this transformation does not in any way threaten the existence of a competitive market, the cornerstone of such a market will have to be an informed buyer who has the capacity to make an accurate judgment of the value of outputs received with reference to the level of inputs injected into the system. This would usher in an era of comparative shopping among the suppliers as well as differentially reward the suppliers who provide the best goods and services at the least cost. Moreover, the system would also allow the buyer to choose a level of productivity that is desirable and affordable and trade off other savings for needs outside the health care system. Given the nature of the transformation and the rewards consequent to the paradigm shift, it is reasonable to expect an increase in productivity, improvement in health outcomes and the improvement on the efficiency and effectiveness of the health care system(Forster 2007). Forces Shaping the New Consumer   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   There are two major forces that possess the potentiality of shaping the evolution and the pace of the novel system. The first force is the degree to which the buyers of health care goods and services become empowered to spend their own financial resources and making their own buying decisions. The second force is the quality of health care provision and the accessibility of the relevant information that pertains to the inputs and the outcomes in the health care process.   In the case of marginalized consumers with inadequate heath care information, there is going to a continuity of the turbulence as seen in the health care system today. Such a scenario slows down the transformation to consumer driven health care system. On the other hand, when marginalized consumers have the benefit of adequate information, the consumer as the main driving force in the system retains a marginalized role in the purchases but is also associated in the trade-offs(Herzlinger 2004). The end result is an unstable relationship among the players since consumers are well informed and possess the power to make their own decisions in seeking out productive suppliers.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Empowered consumers with inadequate information may create a scenario where there is a rush for the establishment of a brand making consumers to almost completely rely on the value associated with a brand. It is on the basis of such information that consumers will make their buying decisions. With the help of interpreters, superior information may be passed to consumers or alternatively, the interpreters may broker the brand to the consumers(Ferrari 2004). However, the best scenario is when there are empowered consumers in possession of adequate information. This scenario aptly captures the spirit of the productive economic system. It implies that the market is awash with consumers buying on their own account. The existence of such a scenario itself may eliminate the need for intermediaries. Not that there is going to be a vacuum where these intermediaries had occupied but that such a space will be occupied with a different faction, for instance, it may be the marketing or sales front end of the provider entities(Herzlinger 2007). This would demonstrate the productivity of the providers(suppliers of health services) to the consumers. Alternatively, the space may be occupied with an aggregator of consumers which may leverage the consumers’ volume power in negotiating a unit price for making the buying decisions.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   In the end, the trend towards informed consumers who are able to make their own health care purchasing decisions will lead to an unprecedented change in the nature and quality of services and goods offered. These changes are not only positive in nature as they will shift the burden of health care costs on the shoulders of individuals. Such a change greatly challenges the deeply rooted societal perspectives on the roles of democratically elected governments. The creation of new consumer oriented intermediaries may usher in another era of misguided government regulatory intervention. Assuming that such a scenario does not arise then a consumer driven health care system has the potential to move health care provision to anew level of productivity hence better health outcomes for the United States citizenry.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   On the contrary, because of these sub classifications of consumers based on empowerment and availability of information, individuals who are less educated and healthy may avoid the needed health care services due to the cost burden coupled to the ability to make well informed and appropriate health decisions. Moreover, as Jonathan Oberlander; a political scientist at the University of North Carolina, Chapel Hill reiterates, the system simply shifts the health care cost burden back to the patients. Patients suffering from chronic health sicknesses may not be able to afford such costs, since with a deductible of between $ 3000 to $ 4000, these patients will thus be unable to save anything in their accounts. Employers are specifically impressed because the system is beneficial to them. They will not adequately fund replenish the employees health care accounts even though they will save money(Gross 2007).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The success of the consumer driven health care is dependent on the ready access to relevant information on health services, products and pricing. Due to the absence of free market variables in the health care industry, the lack of transparency will saddle consumers with additional expenses. This means that despite the theory that health insurance based on higher deductibles results in consumers shopping around for better products and services(based on quality and price), the inadequacy of such pertinent information practically goes against the attainment of benefits in a consumer driven health care model(Shearer 2007). Impacts on the Pharmaceutical Industry Currently the pharmaceutical industry has been shouldering the blame for the double digit increase in health care costs. Between the year 2001-2002, the consumer price index for health care increased by 4.4% while the industry index grew by 5.5%. A simple analysis of these percentages shows that the industry can only account for all the increase in the event that all other health care components shrunk. These statistics aside, the expenditure pent on informing consumers; $ 2.8 billion and a further $ 13.2 billion on informing doctors invariably increase the costs of health care in the long run. Therefore, unless new products are distributed for consumption without additional costs from these activities of pharmaceutical industries, the health care costs will continue to be high(Herzlinger 2004). Consumer driven health care has the potential of eliminating these costs hence advancing quality health care at lower costs.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Health care markets are extremely sensitive to the presence of a market power. Medical device companies and pharmaceutical companies retain monopoly over devices and drugs for a considerably long period of time due to the patent laws. It is during this period before the expiry of the monopoly period that these companies earn monopoly rents, in effect leading to higher drug pricing. This is unlike the traditional neoclassical supply curve(Jost 2007). This trend will be reversed as consumers will be looking out for cheap but equally effective therapeutic alternatives, hence bringing the prices down in the long run.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   With the death of the intermediary between the suppliers and the consumers, the pharmaceutical industry has started to align itself with the consumer of its products through direct to consumer advertising. This has only become necessary after the FDA lifted restrictions on direct to consumer advertising. This move has been viewed by many as a gap that allows the pharmaceutical companies to foist their drugs on the gullible public in the name of providing pertinent drug information. Moreover, the use of billions of dollars in advertising only increases the overall costs of the drugs.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   On the other hand, there are those who view direct to consumer advertising as being revolutionary and instrumental in promoting consumer involvement. Such an exposure of drugs to consumers acts as an educational tool and helps the consumers to be more informed in making decisions in health care. Apart from getting information direct from the pharmaceutical companies, information technology is increasing consumer empowerment making them seek high quality but less expensive choices(Mason et al 2007). Therefore, even though the pharmaceutical companies bypassed the physicians and moved directly to the consumer in advertising and promotion, consumer empowerment means that the era in which the extra expenditures were passed onto the consumers will be long gone. Such an eventuality will stimulate a dramatic restructuring of the industry. Conclusion   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The potential of a consumer driven health care system to improve the efficiency and effectiveness of the quality and delivery of health care are huge. However, the fact that access to health care is hinged on the ready access to relevant information remains the main obstacle in the realization of the full benefits. Health care and market forces are mutually exclusive. The existence of a competitive market; the cornerstone of which is an informed buyer increases the capacity of the buyer to make an accurate judgment of the value of outputs received with reference to the level of inputs injected into the system. So long as information is easily and cheaply accessible and transparency in the health care industry is promoted, the system may well be the answer to age old failures of the current most popular health care system. By putting insurance money under the complete control of the patients themselves, giving the employers cost relief, and eliminating the intermediary in the doctor-patient relationship, the system will undoubtedly achieve its health outcomes. References Ferrari, T. Bernard. (2004). Where Will Consumer Driven Health Care Take the Health Care   Ã‚  Ã‚  Ã‚  Ã‚   System. In Consumer-driven Health Care: Implications for Providers, Payers, and   Ã‚  Ã‚   Policymakers. Regina E. Herzlinger(Eds). John Wiley and Sons. p. 399-403 Forster, R. (2007). Market Forces and Health Care are Mutually Exclusive. Intelligently    Connecting Institutions and Expertise. Gerson Lehrman Group. Goodman, John (2006), Consumer Driven Health Care, Networks Financial Institute Policy   Ã‚  Ã‚  Ã‚  Ã‚   Brief, Indiana State University Gross, T. (2007). Fresh Air from WHYY, July 9, 2007. Diagnosing U.S. Health Care and Sicko,   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Too. Terry Gross interviewing Jonathan Oberlander, associate professor, University of   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   North Carolina, Chapel Hill. Grudzien, L. (2006). Can Consumer Driven Health Care, Health Reimbursement Arrangements   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   and Health Savings Accounts Save Employer Sponsored Health Care Reform From Ruin.   Ã‚  Ã‚  Ã‚  Ã‚   Benefit Express. Herzlinger, Regina. (2007).   Who Killed Health Care? Americas $2 Trillion Medical Problem   Ã‚  Ã‚   and the Consumer-Driven Cure. McGraw-Hill Press. Herzlinger, Regina E. (2004). Consumer-Driven Health Care: Implications for Providers,   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Payers, and Policymakers. San Francisco: Jossey-Bass Publishers. Jost, S. T. (2007). Health care at risk: a critique of the consumer-driven movement. Duke   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   University Press. Kovner, R. A., Knickman, J., Jonas, S. (2008).   Jonas and Kovners Health Care Delivery in    the United States. Springer Publishing Company. Mason, J.D., Leavitt, K. J., Chaffee, W. M. (2007). Policy politics in nursing and health care.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Elsevier Health Sciences. Shearer, G. (2007). Testimony of Gail Shearer, Director, Health Policy Analysis, Washington   Ã‚  Ã‚  Ã‚   Office, Consumers Union before the Joint Economic Committee, on Impact of   Ã‚   Consumer-Driven Health Care on Consumers.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   http://www.consumersunion.org/pub/0225JECTestimonyNoSummary.pdf.

Omnico Case Study Essay Example

Omnico Case Study Essay Example Omnico Case Study Essay Omnico Case Study Essay Omnico Inc Case Study Anne Floros Keller Graduate School Table of Contents Title Page†¦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‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦1 Table of Contents†¦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‚¬ ¦2 Statement of the Problem†¦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‚¬ ¦3 Summary of the Facts†¦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‚¬ ¦. 3 Analysis†¦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‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 3-5 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‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 5 Conclusion†¦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‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 5 †¦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‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦6 Statement of the Problem Omnico Inc is well below industry average in customer retention. Knowing that it costs more to attract new customers than it does to retain existing customers how should Omnico go about facing this challenge? Summary of the Facts Buddy Towers is an experienced member of the sales field at Omnico Inc. He has been the top salesperson 20 out of the last 35 years; therefore, he knows how to interact with the customers. He currently holds the position of sales manager and wants his employees to build relationships with their clients to strengthen their bond and retain their loyalty. However, he is very adamant that his employees are going to have to do this type of relationship selling on a golf course where not everyone feels â€Å"at ease. † A successful sales representative Laura Kilburn, who has been with the company five years backed up this sentiment by stating, (Rich, Spiro, Stanton 2008) Buddy you’re still old school. Today’s customers don’t come back to us because they’re our golfing buddy; in fact many of mine don’t even golf. Customers not re-buy from Omnico only when our products and service improve their bottom line. Follow-up is important, surebut it involves a lot more than playing stupid games with the customer. Analysis Both Towers and Kilburn have substantial arguments. However, first Towers argument of relationship selling is going to be looked at first. According to Spiro, Rich Stanton (2008) relationship selling involves trust, cooperation, commitment and information. These are very intricate concepts to get customers to â€Å"buy† into. The customer wants to believe that they’re a unique individual with their own set of wants/desires and not just someone that is going to be receiving the same sales speech as the rest of the general public. The major element in to achieving this is through open communications and building rapport with the customer. If it’s a product that’s being sold to them the salesperson has to access their needs. Why are they purchasing the product or service? Is it a situational factor? Maybe it’s someone who is selling snow plowing tools and will just need this equipment during the winter months. Maybe the customer is trying to solve a problem as in if they don’t receive â€Å"x† amount of plows by 8am Tuesday morning all city employees will have a delay in getting to work. Maybe the snow plow the company is currently using only holds 2 tons of snow, but the ones we’re selling hold 4 tons of snow. Therefore, they become more efficient and productive by having our equipment on the line. By involving that customer in the process they feel you’re specifically looking to solve their problem not just make another sale. If the customer is concerned about the cost there could be a possibility that they need to see the benefits of obtaining the service. For example, the service employee might say, â€Å"Your employees will be off the roads by 11am versus 1pm with our special plowing system enabling them to get to other tasks at hand. If you purchase them now since you’ve been a long term customer of ours I will offer you a 10% discount if paid within the first 30 days. † However, this needs to be able to have the employee empowered to make these decisions as well. In Tower’s case he wants to build the relationship by doing a round of golf. However, as Kilburn pointed out not all employees or customers are entertained with golfing. This is where it becomes imperative that employees are empowered to make this call on how/where to build this relationship with the customer. The employee could find out if there are any common interests they share and discuss business while potentially going on a morning jog, sharing a cup of coffee at a local Starbucks, getting dinner at the trendy new Thai restaurant, or just even speaking over the phone if the customer is too busy to meet in person. It is the customer that keeps the company in business so it is the employers business to keep the customer content. Finding out how much time the customer has ahead of time and preparing their presentation beforehand will lead to less objections and unnecessary follow-ups. It could be possible the customer is more business focused and doesn’t want a friend but wants to get straight into business. In this case a phone conversation might be the best bet. Recommendations It is necessary for Omnico to set an obtainable objective, for example to retain 70% or more of customers by 3rd quarter of 2012. According to Abrams (2009) these are some great examples of keeping the relationship with the customer and maintaining loyalty: * Contact top customers (list of at least 10-25) quarterly * Keep the company name out there by advertising with emails, newsletters and networking * Give current customers good deals so they don’t feel new customers are prioritized before them * Keep a database of all past and current customers to be able to contact them quickly Also, have the customers leave feedback on the website and (or) respond to surveys. This way the company could continue to build upon their strengths but also improve their weaknesses as well. Conclusion It is critical in order for Omnico to remain as a leader in the business market to implement relationship selling in their strategy. It is imperative to know the needs of the customer and ask the appropriate questions to see what their concerns/needs are and follow-up with the pertinent information necessary. If Omnico retains 70% of all current customers that only leaves 30% that they will need to attract as new customers. Abrams, R. (2009, March 25). Strategies: make customer retention priority no. 1. Retrieved from usatoday. com/money/smallbusiness/columnist/abrams/2009-05-29-customer-retention_N. htm Spiro, Rich, Stanton, R. L, G. A. , W. J. (2008). Management of a sales force. New York City, NY. : McGraw Hill.