10 Most Indispensable Books on the Middle East of 2019

Core Banking - 1387 Words

Core Banking System Meaning:- Core banking is a general term used to describe the services provided by a group of networked bank branches. Bank customers may access their funds and other simple transactions from any of the member branch offices. Core Banking system or CBS is one of the recent developments in the field of banking, and has proved to be very useful. It is a facility provided by banks in which a person, having an account in one branch, can operate his account, in another branch. This has become possible, because each account holder is given a specialised, computerised and unique account number. In simple terms, CBS is a type of banking, in which a person, who opens a bank account in a particular branch of a bank,†¦show more content†¦This, essentially, is what gives central banks leverage over interest rates. Central banks try to control inflation by moving a short term interest rate, typically the overnight interest rate in the interbank market. Expectations of future short term interest rates then determine long term interest rates. †¢ Controlling the nation s entire money supply Through open market operations, a central bank influences the money supply in an economy directly. Each time it buys securities, exchanging money for the security, it raises the money supply. Conversely, selling of securities lowers the money supply. Buying of securities thus amounts to printing new money while lowering supply of the specific security. †¢ The Government s banker and the bankers bank (lender of last resort) It acts as a banker to both the state and the central government in India. It has the exclusive right to issue currency, notes in the country. All the commercial banks operating in India are mandatory to keep a cash reserve with RBI. Further, they have to maintain their current accounts with it. As a banker s bank, the Reserve Bank of India facilitates the clearing of cheques between commercial banks and helps in interbank transfer of funds. It also acts as Lender of Last Resort by providing emergency advances to banks. †¢ Managing the country s foreign exchange andShow MoreRelatedCore Banking Solution2057 Words   |  9 PagesYou are here:  Homegt;Collectionsgt;Core Banking Core Banking RELATED KEYWORDS: * Function * Icici Bank * Cheque * Kapil Sibal * Recession * |  More Ads by Google * Call India from Computer1.6 ¢/Min to Any Phone in India. No Hidden Fees. Try for Only $2!www.PhoneIndia.com * LED Lights WholesalerAll LED Light with CE Certification Export to gt;100 countries. Buy Now!www.ChineseLight.com * Multichannel BankingInnovate with CR2 s latest solution for ATM, InternetRead MoreCore Banking Solutions12901 Words   |  52 PagesProject: Importance And Applications Of Core Banking Solutions (CBS) Objectives of the Project Work: The major objectives of this project work are to: †¢ To evaluate the advantages and disadvantages of CBS over traditional banking system †¢ To explore the technology used in CBS with special reference to Shreyas Grameen Bank. †¢ To identify and discuss various issues related with the automization of Banks. †¢ To define various Core Banking Services provided by Indian BanksRead MoreManaging Core Risks in Banking8625 Words   |  35 PagesMANAGING CORE RISKS IN BANKING: ASSET-LIABILITY MANAGEMENT (ALM) BANGLADESH BANK Asset Liability Management Policy Asset Liability Management (ALM) is an integral part of Bank Management; and so, it is essential to have a structured and systematic process for manage the Balance Sheet. Banks must have a committee comprising of the senior management of the bank to make important decisions related to the Balance Sheet of the Bank. The committee, typically called the Asset Liability Committee (ALCO)Read MoreThe Implementation Of International Accounting Standards1424 Words   |  6 Pagesthat an agreement is possible on a core set of financial standards and that they too are embraced by securities regulators as compulsory for foreign issuers, the road to commonality has at least two other impediments. The first problem derive from the flexibility that the IOSCO disclosure standards unequivocally grant to the securities regulators of the host country in a cross-border share offering. These standards cogitate that the core disclosure document will undertakeRead MoreAssisted A Based Custody Bank s Core Banking And Payments Platforms1559 Words   |  7 Pages†¢ Assisted a PwC team’s effort to develop recommendations to modernize a large US based custody bank’s core banking and payments platforms (i.e., wire transfer, ACH). During this engagement I assessed payment technology options and helped determine the costs and benefits of various investment scenarios. The client is currently leveraging our deliverables and recommendations to perform an in depth review of a subset of modernization options †¢ Led 2015 resolution planning for the payment and securityRead MoreMarketing Sense Of Strategy : Barclays And The National Bank Of Egypt1540 Words   |  7 Pagesof the SWOT analysis and business positions would analyze the sights and core values of both the banks. However, there might be the case that one of the two banks has more advantages and differentiation strategies over the other. The analysis would critically examine and portray the image that is being perceived by its consumers. The suggestion would be recommended in order to achieve a higher position and level in the banking industry. The critical understanding and reviewing of both the well-knownRead MoreManagerial Accounting Essay705 Words   |  3 PagesTHE BARCLAYS BANK Barclays bank is one of the British multinational financial and banking service business companies that have its headquarters in London. In connection to that, there are various duties or roles that the above bank’s manager does in ensuring that the daily activities of the bank run smoothly. The Barclays Bank manager is regarded as being the heart of the banking services offered by this organization. Typically, his or her responsibility entails managing the customers’ financesRead MoreBank Regulations : The Backbone Of The U.s. Economy1102 Words   |  5 Pagesinstruments that help them stay open and be profitable. In the 1990s, interstate banking was finally permitted to create nationwide banks of unprecedented size. Congress s also attempted to force banks to make home loans to people who had limited creditworthiness. These regulations are a major factor in why as many banks failing and disappearing today as we did pre Federal Reserve System. Bank regulations are based on a general core of principles. Banks have two important economic functions. First, theyRead MoreMicrofinance And Financial Inclusion : Microfinance1305 Words   |  6 Pageslala/ money lenders. 5. Technology to Connect People with Banking System for FI To achieve FI, the critical issue in the first place, is to connect people with banking system. This is aimed through the SHG Bank Linkage Programme. Given the experience so far in promoting FI through SHG bank linkage there is a need to appreciate and recognize that the FI is not just credit dispensation, it’s about connecting the people with the banking system for availing bouquet of financial services includingRead MoreCOMMERCIAL BANKS AND NEW CAPITAL REGULATION Essay1050 Words   |  5 Pages Global Banking System 2.3.2. Banking System in Australia 2.3.3. Banking System in (Japan, India or USA?) 3. Conclusions and Recommendations (200) Reference List 1. Introduction Commercial banks are the main type of financial institution that operates within a financial system. Because of the importance of commercial banks in supporting economic growth, the regulators have prescribed prudential standards for supervision of the banking sector. One

Law Of Carlill v Carbolic Smoke Ball Samples †MyAssignmenthelp.com

Questions: 1.List and explain briefly each of the components required to demonstrate that a binding contract exists?2.Does a contract have to be in writing to be binding? In your answer explain whether this is the case, and further whether it is a good idea to put an agreement in writing?3.What is a formal contract? Explain the formalities of such a contract and give two examples?4.A group of friends meet for a regular drink at a hotel every Friday night. Each contributes $2 towards a group lottery ticket, which is drawn over the weekend by Lotto company. One of the group is given the role of actually buying the syndicate ticket. When in fact a winning ticket is drawn for the group the purchaser of the ticket claims the arrangement is purely social and there is no arrangement whereby he needs to share the prize. Analyse this issue in terms of contract law?5.Why is it important under law to distinguish between a party who is an agent for a principal, from that of an independent contractor? In yo ur answer explain the legal implications of each relationship? Answers: 1. There are certain elements, the presence of which turns an agreement into a contract. Due to this reason, it has been said that all contents are agreements, but all agreements cannot be described as contracts. In this way, if all these elements are present in case of an agreement, such agreement turns into a contract that is legally binding for the parties. These elements include the requirement that one party should make an offer to the other. However, an offer can also be made to a group of persons or even to the whole world (Carlill v Carbolic Smoke Ball Co, 1892). Similarly, the offer needs to be accepted by the other party (Harvey v. Facey, 1893). The acceptance should be unequivocal. If new terms are introduced while accepting the offer, such acceptance is not a valid acceptance and it amounts to a counteroffer (Hyde v Wrench, 1840). Another requirement is of the presence of consideration. Consideration can be described as the price paid by the parties in return of the promi se made by another party. It is not necessary that the consideration it always did present in the form of money (Chapple v Nestle, 1959). Similarly it is also required that the parties should have the intention of entering into a legal relationship. This requirement distinguishes a legally enforceable contract from a simple promise made in family or social context. Therefore, some promises made to family members or friends etc. are not enforceable by law. The parties to the agreement should also have the legal capacity to enter into the contract. It is also important that the parties entered a contract after they have properly understood the terms of the contract. The consent of the parties should not be initiated by factors like undue influence, fraud or duress. In such cases the contract may become illegal and void. Therefore the elements that are necessary for the formation of a valid contract are:- offer: one party should make an offer to other. An offer also needs to be distinguished from a mere invitation to treat, for example, an advertisement. Acceptance: the offer needs to be accepted by the party to whom it was made. If any new terms are introduced while accepting the offer, such acceptance is not valid, and it is considered as a counteroffer. The effect of making a counteroffer is that the original offer can no longer be accepted. Consideration: concentration can be described as the price paid by the parties in return of the promise that has been made by the other party. There are certain rules related with consideration. For example, past consideration is not treated as a valid consideration (Re McArdle, 1951). Capacity: the parties should have the legal capacity. For example, minors, persons of unsound mind and bankrupts are not allowed to form a legally enforceable contract. Mutuality of obligations: in case of a valid contract, both the parties should accept the obligations that have been imposed on them by the contract (Pearce v. Brooks, 1866). 2. The law does not impose any condition according to which a legally enforceable contract should always be in writing. Therefore, a valid contract can also be created orally. However there are certain contracts, which are required to be created in writing. Similarly although oral contracts are also legally enforceable but generally a difficulty arises in enforcing the terms of oral contracts. This difficulty arises due to the fact that when a contract has been treated poorly by the parties, a record is not present regarding the terms of the contract. As a result, it becomes difficult to establish the terms of an oral contract. At the same time, it is also important to be aware of the types of contract that required by the to be created in writing. Generally, the contracts that are required by the law to be created in writing include the contracts concerning real property, certain debts or related with money over particular amount. However, the law does not require that each and ever y contract should be created by the parties in writing. Hence, if the elements that the necessity for creating a valid contract are present, even an oral contract can be enforced by the law. Therefore, while the parties entered into a transaction in good faith, but a well drafted contract that has been reduced to writing is capable of providing the best protection to the parties in case a dispute arises between the parties. On the other hand, when a small sum is involved in the contract or, in case of a simple contract, the need for having a written contract is also less. Therefore, it can be said that it is not necessary in all cases that a valid contract should be created in writing. Still, it is a good idea to reduce the contract to writing, because in such a case. It is easier to establish the contractual terms. 3.law A formal contract is a contract that has been created by the parties and the document is sealed using the seal of the parties (Miller, and Cross, 2012). As compared to the situation, when the parties have entered into an informal contract, the document is not signed under seal of the parties. In this regard, the seal can be any impression created on the document by the parties to the contract. In the past, generally, this was done in wax, which mentioned the intention of the parties to be bound by the terms of the contract. It also needs to be noted that the law of contract provides that only the parties to the sealed documents are considered as having certain rights under the contract. As a result of this position, only the parties to the contract are considered by the law as being liable under the contract. But these days, most of the contracts created between the parties are informal contracts. But it needs to be mentioned that the legitimacy of the contract is not decided b y the fact if it is a formal contract or an informal contract. Therefore in both the cases, a contract can be legally enforceable if the other essential elements required for a valid contract are present. Generally, greater authorities like corporations or government entity into a formal contract. The former contract needs to be signed under seal. The examples of formal contracts can be given in the form of letter of credit and negotiable instrument. 4. On the basis of the facts that have been provided in this question, the issue arises if the group of friends have entered into a legally enforceable contract or if it was merely a social agreement, which could not be enforced by the law. In this case, a group of friends used to contribute $2 each for the purpose of purchasing a lottery ticket. One of the friends was given the responsibility to actually purchase a lottery ticket. When the winning ticket was purchased by them that particular friend refused to share the prize money. He claimed that the group of friends did not have the intention of entering regulations when they decided that the prize money will be distributed among them. However, the law of contract provides in such cases that in order to create a valid contract, among other elements. It is also necessary that the parties to the contract should have the intention of entering legal relations (Jones V Padavattan 1969). Therefore in such cases it is necessary that the party should have the intention that the terms of the contract should be enforced by the law (Merritt V Merritt, 1970). For this purpose, it is required that the contract should be interpreted for the purpose of giving effect to the intention of the parties as it has been mentioned in the agreement. In order to achieve this objective, usually, the court ascertains the intention of the parties objectivity. Therefore, for this purpose, the court considers the actual words that have been used in the agreement by the parties as well as the actions of the parties according to the agreement and all the circumstances concerned with the agreement. If it can be decided by any reasonable person, often considering all the above facts that the parties intended to create a legally enforceable contract, the court will enforce the terms of such a contract. The plain meaning rule is also used by the courts in this regard. Therefore, this rule provides that if a clear and unequivocal contract exists , such contract will be enforced by the courts. The plain meaning of the terms of the contract as mentioned in the contractual document will be considered and the court will not consider any extrinsic evidence or interpret the language of the contract. Under these circumstances, in this case also, a group of friends had contributed $2 each for purchasing a lottery ticket. This clearly shows that in this case, the group of friends had the intention of entering into a valid contract that can be enforced by the law. Therefore, they intended that the prize money would be distributed among all of them even if one person has been given the responsibility to purchase the ticket. Therefore in this case, the friend who had purchased the lottery ticket is under contractual obligation to share the prize money. 5. It is possible for the owner of a business to hire agents and independent contractors. Although in both cases, it appears that there is a simple matter of delegation. However, from a legal perspective, a number of implications are present regarding the difference between an agent and an independent contractor. Therefore the employees who have been hired by the business to work under the command of the owner fall under the purview of agents. But when help is hired to complete recurring or temporary tasks, such persons are considered as independent contractors. For the purpose of differentiating agents from independent contractors, the court basically looks at the level of control that a particular employer enjoys over the person who has been hired to do the work. In case the owner of the business has outsourced some work to a person or to another company that specializes in that work, generally it is conceded that such person or company is an independent contractor. However, a fine difference is present between an agent and an independent contractor. Due to this reason, this issue has been the subject of a number of lawsuits. Generally speaking, an independent contractor can be described as a distinct and separate business. The independent contractor is required to provide services, but there is one direction and control. Similarly, the independent contractor has to decide itself the details, means and the manner of doing a particular task. On the other hand, anything can be described as a person or an entity that can be either an employee or an independent contractor who provide services to the principal one continuous basis. However, a completely independent third party can only be considered as an agent and nothing else. Therefore the difference that exists between an agent and independent contractor can be understood on following grounds. Agent: an agent has to work according to the control and supervision of the principal. Similarly, the agent is also under an obligation to follow the instructions that have been provided by the principal while performing a task. The law provides that the acts of the agent are considered to be binding for the principal. Independent contractor: The law requires that an independent contractor has been followed the terms mentioned in the contract. Similarly, while performing the task, the independent contractor uses his own equipment, material and labor. Another difference is that the independent contractor does not have the capacity to bind the employer by his acts. References Miller, and Cross. "Chapter 11: Contract Law." Business Law: Text and Cases. By Clarkson. 12th ed. Mason: Cengage Learning, 2012. 210 Case Law Carlill v Carbolic Smoke Ball Company [1892] EWCA Civ 1 Chappell Co Ltd v Nestle Co Ltd [1959] UKHL 1 Harvey v Facey [1893] UKPC 1 Hyde v Wrench [1840] EWHC Ch J90 Jones v Padavatton [1969] 1 WLR 328 Merritt v Merritt [1970] EWCA Civ 6 Pearce v. Brooks (1866) 1 Exch 213 Re McArdle (1951) Ch 669

Advance Diploma of Marketing

Question: Discuss about the Advance Diploma of Marketing. Answer: Introduction The current assignment revolves around the core marketing strategies and its effectiveness. There are several definitions of marketing; however, it is observed that marketing is the technique of planning, implementing the concept, pricing and promotion to gain certain advantages In addition, it can also be mentioned that the concept of marketing is related to achievement of organization goal and objectives. Thus, in order to understand the importance of marketing strategies, the current operation of the organization TESCO has been considered. The report starts with an overview of the marketing objectives and likewise, the report carries forward with risk marketing risk management strategies. Developing the marketing objectives The strategic directions of TESCO can be categorised in different sections. The starting point of the organization is the market where it serves the large number of the customers. It is observed that the UK market is the most successful market where TESCO serves most of its customers. As per the current report, the UK market represents more than two-thirds of the overall sales of the organization. The main focus of the organization is on service, range and availability. The core business of the organization is based on the effective service. However, the organization is lagging behind in implementing this in the recent time. In addition, over the past few years, the organization has significantly increased the number of products in its range. Nevertheless, this has put certain pressure on the store challenges of the company. From the strategic direction of the organization, it has also been observed that Tesco needs to protect as well as strengthen its financial position. Thus, the organization could maintain the flexibility to invest more on better shopping trip for the customers. Moreover, the organization is committed to stronger financial disciplines across the capital spending. The organization relies on the trust customers, suppliers and the communities. Furthermore, it is also observed that the business model of Tesco consists of products, customers and channels. The aim of the organization is to assure everything in the business that is built in the most efficient way to generate value for customers (McDonald 2013). Strategic analysis- According to the recent report, in the year 2013, Tesco has achieved revenues that is around 35, 557 million, which indicates an increase of 19.7% against the previous years (Lowe, George and Alexy 2012). In the current year, in the UK market, the organization Tesco has extended its operations. As mentioned by Soosay, Fearne and Dent (2012), the organization has also built up 20 superstores and achieved a tremendous growth in the business. Mostly importantly, it is identified that the overall sales in UK market of Tesco is greater than the total sales in Asian market. The organization has increased the market share. Similarly, the brand value of the organization has also increased due to the current operations. However, the structural change in UK market could spark a price way in the coming years (Dowling and Moran 2012). Further, the returns from the overseas could fail. This could create obstacles for the organization. Nevertheless, it is also identified that Tesco currently holds 13% share of the retail market of UK. The company has a multi-format capability which indicates that Tesco may continue to increase the share in food, whereas maximizing the space contribution from the hypermarket that is allowing the organization to deal with higher share in non-food (Lowe, George and Alexy 2012). Further, it is observed that the international business segment of Tesco is dramatically increasing. It is assumed to contribute a quarter of group profits over the coming years. As put forward by Singh and Sahay (2012), if the geographical spread continues to increase, it may ensure Tescos persistent regional growth. Brand value of the organization is gradually increasing as the profits for the operations done by Tesco in UK, Asia and Ireland increased by 79% at the time of fiscal year. Moreover, the organization has strong image and it is associated with the good quality of products and services. As mentioned by Frow et al. (2014), the trustworthy products may represent the excellent brand value. Tesco uses innovative ways of enhancing the customer shopping experience. The organization also put a large amount of efforts in branching out into the finance as well as insurance. Scoping the marketing opportunities- The organization could pay attention to the non-food retail. The implementation of this approach may provide further marketing opportunities. The new customers could come; thus, the organization may increase the customer base. In addition, the organization could also focus on health and beauty. In order to apply this opportunity, the organization may have to develop the health and beauty products. Lastly, the organization may extend the business to internal platform. For example, it could extend the business in other country where marketers have optimal opportunities for retail business. Reviewing the current performance of the organization The current performance of the organization indicate that Tesco has developed a significant multi-format strategy that in turn provides certain benefits to the organization. For example, in the recent time, it has been observed that the overall sales of Tesco has now increased 70% bigger than the increment of overall sales of Sainsbury in UKs market. As per the competition Commission report, it is difficult for the competitors of Tesco to throw challenge to Tesco. As opined by Mukerjee (2013), the chance of stealing UK leadership by Wal-Mart is less; thus, Tesco is significantly in a strong position in the domestic market. Developing a marketing risk management strategy There have been certain risks associated with the operations of each organization. More specifically, it can be added that the organization in its own industry might have to deal with some common risks elements. The appropriate risk response could be different from organization to organization based on how the management considers the risks in respect with magnitude. There have been certain steps involved with the risk management strategy that can be applied to deal with the common risks. Step 1-Identify The initial step of executing the risk management is to identify the potential risks that are inherent to the business as well as the operation of the organization. For instance, the organization could implement self-assessment process and conduct the survey to learn the facilitated risks. There are certain advantages associated with this particular mechanism. The major advantages of this technique is the capability to have workshop for multiple level of responsibility. For example, the governance level of could have a different view of magnitude of risk than frontline employee. As mentioned by Galician (2013), the decentralized risk ownership may require risk evaluation. Figure 1: Risk management strategy (Source: Galician 2013) Step 2- Assess The second step is to assess the risk on two dimension namely the likelihood of occurrence as well as the impact of occurrence. While developing the risk management strategies, it is necessary to assess the risks. By assessing the risks, the Tesco could find out further solutions. Hence, Tesco might have to deal with the external risks such as competitor strategies and changes in the market demands. At the end of this step, the risks are identified, measured as well as assessed as to the extent of severity. The resulting information from these steps can be considered as the risk profile. As mentioned by Shani and Chalasani (2013), a risk analysis technique could help to capture information from the first steps with the help of facilitated risks. Step 3- Measure The organization Tesco should determine how the exposure can be stated in different terms like the financial challenge, the challenge of damage to business reputation or the challenge of inefficiency in the techniques used. Step 4- Determine risk This particular step is about determining the risks in hand. This steps determines the appropriate response that can be effectively managed. In addition, for each identified risk, the particular risk can easily be articulated. It is assumed that if the severity of the risk is comparatively high, there be strong risk response. In addition, it can also be mentioned that each organization may have its own risk threshold. For instance, if the risk response is to accept the potential risks, this could become the part organizations risk threshold. Step 5- Assign responsibility This step is about assigning the responsibility to a certain position. Each of the risk should be assigned to a particular position within the workplace of the organization. The person responsible for the positions need to assure that the risk response is properly translated on a regular basis. The responsible person needs to develop the required solutions for the risk identified. For example, if the customers have issues regarding the sales or the services, the sales manager needs to identify the issues. Based on the identification certain solutions can be developed. Step 6-Monitor After implementing the risk responses and management techniques, the managers need to take the responsibility of monitoring the significant activities to assure that the identified risks remain within an acceptable threshold (Mitchell and Greatorex 2013). In such case, the organization may adopt the centralized risk management groups to monitor. This group would take the responsibility of determining the extent of risks. Step 7-Report The executive management may require the information to be reported that could further allow them. The managers of the organization need to determine the form of reporting to positively inform the core body of the organization. Step 8-Inform The information gained from the reports can be further utilized to manage the annual updates of the risk analysis. In addition, the management of the organization needs to adhere to control the usual techniques of marketing. Marketing opportunities Identification and analysis of marketing opportunities: Nowadays, the retail industry has been experiencing the robust growth in the global market. The retail industry is in a growing phase and it facilitates to strengthen the economic development of the country (Ryan 2014). The changing lifestyle and its rapid development have facilitated the organizations to enhance the business opportunity in an effective manner. Tesco is one of the supermarket giants experiencing rapid growth in the global platform. It is the third biggest retailer in the world having outlets in 14 different nations (Solomon 2014). Although the organization has established its business in the UK in an effective manner, Tesco needs to focus on their international business for experiencing the profitable outcome. By analysing the positive aspects of the business process management, it can be assessed that the organization has been focusing on enhancing the business in the large demographic areas (Green, Whitten and Inman 2012). Business Viability depends on several factors including competitive advantage model along with target segment analysis. Moreover, it consists of product growth directions, BCG matrix analysis. Although the organization has been facing difficulties for enhancing business areas in the market, the company operates its business in Asia, including Thailand, South Korea, Malaysia and Taiwan (Gabrielsson, Gabrielsson and Seppl 2012). The CEO of the organization has stated that they are looking forward to implementing several strategies for gaining competitive advantages in an efficient manner. Scope of marketing opportunities: External factors: External factors including social, economic, political, cultural and technological factors influence the organization to execute the business process management in an effective manner. In this context, Tesco has been experiencing enhanced business growth worldwide through utilizing its effective marketing opportunities. Political factors: Tesco considers the several political factors for executing the business in the global environment. On the other hand, the organization has analyzed each political issue in a detailed manner, which facilitates them in identifying the key development area in the business (Devi Juwaheer et al. 2012). Most of the business analysts have accepted the fact that political and legislative conditions have been influencing the business of Tesco in an efficient manner. Economic factors: Economic factors are the most important concerns of the business, as it is responsible for influencing the demand, costs, prices and profits. High unemployment level indicates the most influential factors, as it decreases the effective demand for many goods (Gabrielsson, Gabrielsson and Seppl 2012). On the contrary, it affects the demand for producing the same product line. Other external factors: By analyzing different marketing factors, it can be assessed that the organization focuses on cost, benefits, risks and opportunities for the execution of business in an efficient manner. There are several beneficial aspects of the business enhancing the opportunity for profit maximization. By discussing the benefits of Tesco, several business processes can be identified such as economies of scale, diversification, minimum standards, large employers and flexible hours (Solomon 2014). The strong financial assets of Tesco indicate its capability for implementing diversification into the product category. In this context, Tesco has facilitated in increasing the competition in the global market. On the other hand, the large size of the business facilitates the organization for obtaining benefits from the economies of scales including transportation, distribution, marketing and technology (Ryan 2014). Costs of Tesco depend on several factors including consumers choice, size and market power, profit margins, and accessibility time (Solomon 2014). The CEO of the organization believes that the company needs to have a wide range of products for providing high choice to the consumers. On the other hand, profit margins play an important role in the business, as it facilitates the organization to obtain success in an efficient manner (Gabrielsson, Gabrielsson and Seppl 2012). Cost analysis includes the accessible time for business. Tesco operates its business 24 hours for providing enhanced facilities to the customers. Although the organization has adequate brand values in the international market, it faces several risks in the business. The prime threat to the organization is that the UK structural change could spark a price war (Ryan 2014). On the other hand, most business analysts have discussed that the overseas returns could fall at any point in time. The organization faces threats from its competitors including Walmart and Asda. However, the management team at Tesco has implemented several unique strategies for diminishing the marketing challenges in an appropriate manner (Solomon 2014). In recent years, the organization has been trying to expand the business on the global platform. By discussing the opportunities of the business, it can be assessed that Tesco can enter into the health and beauty segment for the enhancement of business. Moreover, the organization needs to focus on further international growth. Tesco has conducted a customer feedback where the organization has accumulated suggestion on developing non-food retail section (Green, Whitten and Inman 2012). Hence, it can be assessed that the organization has several opportunities for the business enhancement in the global platform. Opportunities for obtaining goals and objectives: The prime goal of the organization is to maximize the profitability of the business within a short timeline. Tesco is one of the giant organizations in the supermarket industry. The size and economic status of the organization have facilitated them to retain an enhanced brand value in the global market (Ryan 2014). With the involvement of the effective strategic implementation, the organization could achieve the organizational objectives in an efficient manner. On the other hand, the organization recognizes its customers for the enhancement of the business in the large demographic areas (Solomon 2014). The increasing market share of the organization has facilitated the company to achieve goals and objectives of the business in an appropriate manner. There are three prime opportunities for the organization including entering into the non-food retail, health and beauty and further international growth. Hence, it can be assessed that different opportunities of the business facilitate th e organization in obtaining the profitable outcome in an efficient manner. Evaluating each opportunity to determinate its impact on the current business: Tesco has numerous opportunities for enhancing the business in the global platform. Tesco may include new ideas for the enhancement of the business in an efficient manner. These new business opportunities involve non-food retail, health, beauty, and further international growth. With the engagement of the new business involvement, the particular organization could enhance its assets in the business (Green, Whitten and Inman 2012). The core strength of the business is to increasing market share to develop the business opportunities. By entering into the non-food industry, Tesco could be able to enhance the business profitability in an efficient manner (Solomon 2014). On the other hand, the enhanced brand value of the company would facilitate them to obtain success in the new business ventures. Hence, it can be assessed that the new business engagement would be the best possible solution for the profit maximization. Formulating the marketing objectives Long term strategic objectives The organization needs to focus on clear as well as definite plan outlined by retailer to tap the market. The organization needs to develop plans to establish a long-term relationship with the customers. In addition, the Tesco needs to focus on Asian market or the organization could extend the business in other Asian countries. In the recent time, the Asian economy is boosting the market. Thus, the organization may find effective marketing opportunities. In addition, the organization needs to focus on the products and customer services. Therefore, they could develop some new products based on the needs and demands of the market. Formulating the KPIs There are certain key performance indicators that could help to develop organizational performance. Customer recommends Tesco and pay frequent visits Highly developed products and services Customer services should be developed Requirement of non-retail food with existing services Development of the Risk Management Strategy The featured marketing plan for Tesco is suggesting the changes for the larger organization. It is to be indicated that the structure of the marketing plan for a larger organization may ensure several potential risks. Hence, it is required to formulate the relevant risks management strategy to mitigate the possibilities of emerging risks. Since, the marketing plan has been formulated for a larger organization, the establishment of the effective training and development session for the managers would be beneficial. In considering such process, the assistant director will be the major responsible person to provide training to the other managers in a hierarchal structure. The training process will be associated with the collaboration of different managers of diversified departments. The senior manager will assess the overall risks to the managers in such training period. Each of the segments will be discussed and the managers can even consult with other while undertaking any organizatio nal decision. Documentation of the Marketing Activities The marketing plan is structured by keeping the focus on the marketing objectives that has been set previously. The structured process of the marketing plan determines the frequent way of conducting the business. The marketing activities are listed further: The marketing plan needs to be structured with the analysis of marketing mix where the different marketing segments will be analyzed. The application of marketing mix will be helpful for Tesco to identify the product, place, people, and the promotional strategy. Formulation of the structured budget followed by a synchronized action plan is necessary to understand the required amount of the capital investments and sequential actions. Tesco even needs to evaluate a monitoring plan for facilitating the frequent improvisation of the business practices. The entire summarization of the plan is needed to be documented and presented to the upper management. Reviewing the documents is necessary in considering the frequent improvisation of the process. The marketing plan will thus be well structured and well contented. Conclusion On the completion of the report, it can be mentioned that effective marketing plan could provide certain marketing opportunities. It can be mentioned that if the marketing plan fails, the organization could go on enhancement of the market rather than penetrating the market. The organization needs to develop new strategy for the development of the market. In addition, the current operation of Tesco indicate that organization has a stronger position in the UK market. Tesco needs to pay attention to its customer service; if the organization provides an effective service to the customers, the company may increase sales and achieve an effective financial position. Reference List: Devi Juwaheer, T., Pudaruth, S. and Monique Emmanuelle Noyaux, M., 2012. Analysing the impact of green marketing strategies on consumer purchasing patterns in Mauritius.World Journal of Entrepreneurship, Management and Sustainable Development,8(1), pp.36-59. Dowling, G. and Moran, P., 2012. 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