In Australia, the banking sector is dominated by four main institutions, the ANZ Banking Group, Commonwealth Bank,
Question:
In Australia, the banking sector is dominated by four main institutions, the ANZ Banking Group, Commonwealth Bank, National Australia Bank, and Westpac. To maintain a competitive banking market, the government adopts the four pillars policy which prohibits mergers between any of the big four banks. Examine the banking industry using the theory and models of market (or industry) structure. Now suppose mergers are allowed between major banks and they have strong incentives to merge with each other. Explain what will happen to the market structure of the banking industry eventually. Describe the advantages and disadvantages of having an industry with this market structure. How should the government regulate the industry after mergers?
Retention: Deciding to Act Wally's Wonder Wash (WWW) is a full-service, high-tech, high-touch car wash company owned solely by Wally Wheelspoke. Located in a midwestern city of 200,000 people (with another 100,000 in suburbs and more rural towns throughout the county), WWW currently has four facilities within the city. Wally plans to add four more facilities within the city in the next two years, and later on he plans to begin placing facilities in suburban locations and rural towns. Major competitors in the city include two other full-service car washes (different owners), plus three touchless automatic facilities (same owner). Wally's critical strategy is to provide the very best to customers who want and relish extremely clean and "spiffy" vehicles and to ensure they have a positive experience each time they come to WWW. To do this, www seeks to provide high-quality car washes and car detailing and to generate considerable repeat business through competitive prices combined with attention to customers. To make itself accessible to customers, WWW is open seven days a week, 8:00 a.m. to 8:00 p.m. Peak periods, volume- wise, are after 1:00 p.m. on weekdays and from 10:00 a.m. to 5:00 p.m. on weekends. In addition, Wally uses his workforce to drive his strategy. Though untrained in HR, Wally knows that he must recruit and retain a stable, high-quality workforce if his current facilities, let alone his ambitious expansion plans, are to succeed. WWW has a strong preference for full-time employees, who work either 7:30 a.m. to 4:00 p.m. or 11:00 a.m. to 8:00 p.m. Part-timers are used occasionally during peak demand times and during the summer page 736 when full-timers are on vacation. There are two major jobs at www: attendant (washer) and custom service specialist (detailer). Practicing promotion from within, WWW promotes all specialists from the attendant ranks. There are currently 70 attendants and 20 custom service specialists at WWW. In addition, each facility has a manager. Wally has filled the manager jobs by promotion from within (from either the attendant or custom service specialist ranks), but he is unsure if he will be able to continue doing this as he expands. The job of attendant is a demanding one. Attendants vacuum vehicles from front to rear (and trunk if requested by the customer), wash and dry windows and mirrors, dry vehicles with hand towels, apply special cleaning compounds to tires, wipe down the vehicle's interior, and wash or vacuum floor mats. In addition, attendants wash and fold towels, lift heavy barrels of cleaning compounds and waxes, and perform light maintenance and repair work on the machinery. Finally, and very important, attendants consistently provide customer service by asking customers if they have special requests and by making small talk with them. A unique feature of customer service at www is that the attendant must ask the customer to personally inspect the vehicle before leaving to ensure that the vehicle has been satisfactorily cleaned (attendants also correct any mistakes pointed out by the customer). The attendants work as a team, with each attendant expected to be able to perform all of the above tasks. Attendants start at a base wage of $8.00/hour, with automatic $.50 raises at six months and one year. They receive brief training from the manager before starting work. Custom service specialists start at $9.00/hour, with $.50 raises after six months and one year. Neither attendants nor custom service specialists receive performance reviews. Managers receive a salary of $27,000, plus an annual "merit" raise based on a very casual performance review conducted by Wally (whenever he gets around to it). All attendants share equally in a customer tip pool; custom service specialists receive individual tips. The benefits package is composed of the following: (1) major medical health insurance with a 20% employee co-pay on the premium, (2) paid holidays for Christmas, Easter, July 4, and Martin Luther King Jr.'s birthday, and (3) a generous paid sick-pay plan of two days per month (in recognition of high illness rates due to extreme working conditions). In terms of turnover, Wally has spotty and general data only. In the past year WWW experienced an overall turnover rate of 65% for attendants and 20% for custom service specialists; no managers left the company. Though lacking data further back, Wally thinks the turnover rate for attendants has been increasing. WWW's managers constantly complain to Wally about the high level of turnover among attendants and the problems it creates, especially in fulfilling the strong customer service orientation for WWW. Though the managers have not conducted exit interviews, the major complaints they hear from attendants are (1) the pay is not competitive relative to the other full-service car washes and many other entry-level jobs in the area, (2) the training is hit-or-miss at best, (3) promotion page 737 opportunities are limited, (4) managers provide no feedback or coaching, and (5) customer complaints and mistreatment of attendants by customers are on the rise. Wally is frustrated by attendant turnover and its threat to his customer service and expansion strategies. He calls on you for assistance in figuring out what to do about the problem. Use the decision process shown in Exhibit 14.11 to help develop a retention initiative for WWW. Address each of the questions in the process: 1. Do we think turnover is a problem? 2. How might we attack the problem? 3. What do we need to decide? 4. How should we evaluate the initiatives? Retention: Deciding to Act Wally's Wonder Wash (WWW) is a full-service, high-tech, high-touch car wash company owned solely by Wally Wheelspoke. Located in a midwestern city of 200,000 people (with another 100,000 in suburbs and more rural towns throughout the county), WWW currently has four facilities within the city. Wally plans to add four more facilities within the city in the next two years, and later on he plans to begin placing facilities in suburban locations and rural towns. Major competitors in the city include two other full-service car washes (different owners), plus three touchless automatic facilities (same owner). Wally's critical strategy is to provide the very best to customers who want and relish extremely clean and "spiffy" vehicles and to ensure they have a positive experience each time they come to WWW. To do this, www seeks to provide high-quality car washes and car detailing and to generate considerable repeat business through competitive prices combined with attention to customers. To make itself accessible to customers, WWW is open seven days a week, 8:00 a.m. to 8:00 p.m. Peak periods, volume- wise, are after 1:00 p.m. on weekdays and from 10:00 a.m. to 5:00 p.m. on weekends. In addition, Wally uses his workforce to drive his strategy. Though untrained in HR, Wally knows that he must recruit and retain a stable, high-quality workforce if his current facilities, let alone his ambitious expansion plans, are to succeed. WWW has a strong preference for full-time employees, who work either 7:30 a.m. to 4:00 p.m. or 11:00 a.m. to 8:00 p.m. Part-timers are used occasionally during peak demand times and during the summer page 736 when full-timers are on vacation. There are two major jobs at www: attendant (washer) and custom service specialist (detailer). Practicing promotion from within, WWW promotes all specialists from the attendant ranks. There are currently 70 attendants and 20 custom service specialists at WWW. In addition, each facility has a manager. Wally has filled the manager jobs by promotion from within (from either the attendant or custom service specialist ranks), but he is unsure if he will be able to continue doing this as he expands. The job of attendant is a demanding one. Attendants vacuum vehicles from front to rear (and trunk if requested by the customer), wash and dry windows and mirrors, dry vehicles with hand towels, apply special cleaning compounds to tires, wipe down the vehicle's interior, and wash or vacuum floor mats. In addition, attendants wash and fold towels, lift heavy barrels of cleaning compounds and waxes, and perform light maintenance and repair work on the machinery. Finally, and very important, attendants consistently provide customer service by asking customers if they have special requests and by making small talk with them. A unique feature of customer service at www is that the attendant must ask the customer to personally inspect the vehicle before leaving to ensure that the vehicle has been satisfactorily cleaned (attendants also correct any mistakes pointed out by the customer). The attendants work as a team, with each attendant expected to be able to perform all of the above tasks. Attendants start at a base wage of $8.00/hour, with automatic $.50 raises at six months and one year. They receive brief training from the manager before starting work. Custom service specialists start at $9.00/hour, with $.50 raises after six months and one year. Neither attendants nor custom service specialists receive performance reviews. Managers receive a salary of $27,000, plus an annual "merit" raise based on a very casual performance review conducted by Wally (whenever he gets around to it). All attendants share equally in a customer tip pool; custom service specialists receive individual tips. The benefits package is composed of the following: (1) major medical health insurance with a 20% employee co-pay on the premium, (2) paid holidays for Christmas, Easter, July 4, and Martin Luther King Jr.'s birthday, and (3) a generous paid sick-pay plan of two days per month (in recognition of high illness rates due to extreme working conditions). In terms of turnover, Wally has spotty and general data only. In the past year WWW experienced an overall turnover rate of 65% for attendants and 20% for custom service specialists; no managers left the company. Though lacking data further back, Wally thinks the turnover rate for attendants has been increasing. WWW's managers constantly complain to Wally about the high level of turnover among attendants and the problems it creates, especially in fulfilling the strong customer service orientation for WWW. Though the managers have not conducted exit interviews, the major complaints they hear from attendants are (1) the pay is not competitive relative to the other full-service car washes and many other entry-level jobs in the area, (2) the training is hit-or-miss at best, (3) promotion page 737 opportunities are limited, (4) managers provide no feedback or coaching, and (5) customer complaints and mistreatment of attendants by customers are on the rise. Wally is frustrated by attendant turnover and its threat to his customer service and expansion strategies. He calls on you for assistance in figuring out what to do about the problem. Use the decision process shown in Exhibit 14.11 to help develop a retention initiative for WWW. Address each of the questions in the process: 1. Do we think turnover is a problem? 2. How might we attack the problem? 3. What do we need to decide? 4. How should we evaluate the initiatives?
Expert Answer:
1 In Australia the banking sector is dominated by four main institutions the ANZ Banking Group Commonwealth Bank National Australia Bank and Westpac To maintain a competitive banking market the govern... View the full answer
Staffing Organizations
ISBN: 978-1259756559
9th edition
Authors: Herbert G Heneman III, Timothy A Judge, John Kammeyer Mueller
Students also viewed these accounting questions
-
Explain what will happen to U.S. potential GDP, employment, and real wage rate. Suppose that the United States cracks down on illegal immigrants and returns millions of workers to their home...
-
Explain what will happen in the countries to which the immigrants return to potential GDP, employment, and the real wage rate. Suppose that the United States cracks down on illegal immigrants and...
-
Using the accompanying diagram, explain what will happen to the market for loanable funds when there is a fall of 2 percentage points in the expected future inflation rate. How will the change in the...
-
Suppose that a telephone switchboard of some company on the average handles 300 calls per hour, and that the board can make at most 10 connections per minute. Using the Poisson distribution, estimate...
-
Specialty Toys, Inc., sells a variety of new and innovative childrens toys and believes that the preholiday season is the best time to introduce a new toy. Many families use this time to look for new...
-
Is there more variation in the output of one shift in a manufacturing plant than in another shift? In an effort to study this question, plant managers gathered productivity reports from the 8 A.M.to...
-
\(106+75+94\) Use properties of real numbers and mental math to calculate the expression.
-
Jim Andrews opened a delivery business in March. He rented a small office and has a part-time assistant. His trial balance shows accounts for the first three months of business. Andrews' transactions...
-
You are planning to acquire a business today and sell it in 3years. The cash flows associated with this investment are: 163,146an expense of dollars in year zero; an expense of 32,799 dollars inyea 2...
-
The proposed rates were not in the range the CEO expected given the pricing analysis. The CEO has asked the pricing actuary to verify the total projected loss cost excluding potential large storm...
-
Finance - Calculating Required Rates of Return on Equity Capital across Different Industries
-
2. Given a function f such that f(3) = 1 and f(n) (3) = (-1)"n! (2n+1)2n a. Write the first four non-zero terms and the general term of the Taylor series for f about x = 3.
-
What are the strategic advantages of a forward vertical integration strategy. Explain in details.
-
What acceleration does the Earth exert on its moon if the Earth has a mass of 5 . 9 8 \\ times 1 0 2 4 kg
-
Warren Company has two divisions with the following results: Sales revenue Divisional expenses Segment income Average invested assets Warren Company has a hurdle rate of 12.9%. Required: Ashland $...
-
Fiwrt Corporation manufactures and sells stainless steel coffee mugs. Expected mug sales Fiwrt (in units) for the next three months are as follows: Budgeted unit sales October 40,000 November 46,000...
-
After reviewing this week's readings and resources, find a children's story video reading, view it and think about what items you would use torepresent a Jackdaws for the story of "Oonga Boonga" by...
-
Find the center of mass of a thin triangular plate bounded by the y-axis and the lines y = x and y = 2 - x if (x, y) = 6x + 3y + 3.
-
Cognitive ability tests are one of the best predictors of job performance, yet they have substantial adverse impact against minorities. Do you think its fair to use such tests? Why or why not?
-
What are possible reasons for the fact that the three sources differ in their relative effectiveness?
-
Is the PS assessment a valid predictor of performance as a store manager? Would you recommend the PS be used in the future to select sales people for promotion to store manager?
-
A friend of yours tells you that his parents plan to pay for his college education by selling some family jewelry. Write About It Write a paragraph explaining why you might question this plan.
-
Explain why so many fraud complaints are related to online auctions.
-
Imagine that you have \($10,000\) to invest. Use a newspaper, the Internet, or other source to select a mutual fund. Use the same source to fi nd out how much gold you could buy for \($10,000\)....
Study smarter with the SolutionInn App