MIBT – MME 101 Business Academic Skills
Trimester 1, 2012
Assignment 2 – Research Essay
_________________________________________________________________________________
Due Date: Week 11 – MONDAY MAY 21 – by 5:30 p.m. – both hard copy and on-line
versions. Printed copy – in your lecturer’s locker. On-line copy via portal.
Marks: 20 marks (20% of trimester total)
Word limit: 1500 words (+/- 10%)
GENERAL PURPOSE OF AN ESSAY:
An essay is a piece of continuous writing that contains an argument to address the topic. An essay requires the writer to
argue, defend or justify a point of view about the topic task. Essay writers provide appropriate reference material to
support their arguments. Their material presents and discusses any conflicting evidence in order to reach a conclusion.
Analysis comprises an assessment of the value of the ideas or information presented in the essay. Students are
expected to provide both information and analysis in the essay.
BACKGROUND:
Services have fundamentally different characteristics from goods or products. These differences have crucial
implications for the way the service economy is organised. Services continue to add to the overall economic
growth of countries. Therefore marketing and development of services remain a core topic. There is a critical
need to remain focused on several areas related to services and, in particular, effective and efficient
promotional strategies for service providers. Because of their generally intangible nature, services often face
unique challenges in developing effective growth strategies. Organisations focus on the future and build a
customer base for their services to support a growth economy.
TASK and TITLE:
Write a research report on the following topic:
MME 101 – Assignment TWO – Tri 1, 2012 Page 1
Services industries are important in building economic growth.
Write your essay by addressing the following:
Describe what various writers -at least THREE (3) – identify as the need for organisations to develop
their services offerings.
Discuss how organisations design and build services to attract new and existing customers to buy
their services. Refer to the research you have presented previously in your research report.
Select and describe how TWO (2) organisations are building their services offerings. You may use
international examples as well as Australian organisations, from the financial services sector,
distribution services sector or the business services sector.
Compare and contrast the two organisations’ approaches to building their services businesses.
MME101 Business Academic Skills – Trimester 1 2012 – Assignment 2 Research Essay
Sources:
Sources must include at least six (6) articles/journals for this assignment, including the report assignment
article (McManus) and any other relevant material from Assignment One. Use organisation information from
Deakin online databases, organisation websites or other sources. References used in your Assignment
Research Report may be used. However additional references are required. All sources must be properly
referenced and cited. Sources must have been written in the 21
Page: 2
st
century; that is, since the year 2002 (but as
close to 2012 as possible).
Other non-academic sources are not to be used; in particular, do not use Wikipedia, Woopido, MySpace,
YouTube, Blogs or any other unverifiable non-academic sources.
Essay formatting:
Font size 12 pt, in Arial or Calibri
1.5 line spacing,
3 cm left and right hand margins,
all pages must be numbered correctly
In addition, for the printed copy:
Title page
o single sided printing, only,
o stapled top left hand corner,
o NO folder/binder/plastic sleeve.
It should look like this:
Staple!
Full Title here
(in 14 – 16 pt size)
Your full name
Your ID no.
Unit code and name
Lecturer name
Assignment #
Due Date
This, in 11 – 12 pt size
MME101 Business Academic Skills – Trimester 1 2012 – Assignment 2 Research Essay
Guide:
You must submit an essay not a report. An essay contains no headings or sub-headings. Assignments
presented in report format will not be marked.
You must apply the author-date (Harvard) system of in-text citations and referencing provided in:
Page: 3
Gaspar, M & Shepherd, M 2011, Guide to assignment writing and referencing, 4
edn, Deakin
University, Geelong, Vic.
Also available electronically, retrieved 2 June 2011, <http://www.deakin.edu.au/currentstudents/study-support/study-skills/handous/authordate-harvard.php>.
ACADEMIC WRITING AND REFERENCING RESOURCES
Written assessment tasks can vary from unit to unit and even within one unit. It is important that you
understand what is required of a particular writing style to maximise your chances of academic success.
Examples of writing styles used for assessment in the Faculty of Business and Law include assignments,
essays, case studies and reports.
All words and ideas from your sources must be correctly cited.
Uncited content will be considered as plagiarism and assessed
accordingly. This can result in a zero mark and possible academic
misconduct penalties being imposed.
Note: all assignments will be uploaded to Turnitin to verify authenticity and origin of sources. You must be
able to defend the originality of your work. Submissions that are the product of collusion and / or plagiarism,
will be dealt with according to the MIBT processes for academic misconduct.
th
MME101 Business Academic Skills – Trimester 1 2012 – Assignment 2 Research Essay
ASSIGNMENT SUBMISSION INSTRUCTIONS:
YOU MUST SUBMIT A PRINTED COPY AND A COPY THAT IS UPLOADED TO THE PORTAL. Both copies
MUST be submitted before the due time and date. If the electronic copy is not submitted, then your
assignment will NOT be marked. The electronic copy could be submitted for scanning using ‘Turnitin’ in
order to verify authenticity / originality as well as to ascertain whether or not you have plagiarised.
HARD COPY / PRINTED COPY
The assignment must include the following components in this order:
Page: 4
1. MIBT Assignment Cover Sheet
2. Research essay
3. Research Essay Marking Guide (placed at the end of this document).
ON-LINE COPY
Using the link provided under Week 11 of Moodle, upload your assignment. You will NOT need to
include the MIBT Assignment Cover Sheet, Plagiarism Declaration and Marking Guide – only the title
page and essay. You MUST ONLY use .doc, .docx or .pdf file formats. No Other file format will be
accepted! You must use YOUR name in the file name, eg:
Billy Bragg BRBAD13 – MME 101 Assignment 2.docx
NOTES:
1. Assignments are on time if they are submitted online AND as hard copies before the due date and
time. BOTH forms of the assignment must be submitted.
2. No extensions will be considered for assignment submission due dates unless a written request for
an extension is submitted. This can be found in the space above Week 1 of MME 101 Moodle as a
form specific to this unit only.
3. Any assignment submitted late without an extension being granted will not be marked.
MME101 Business Academic Skills – Trimester 1 2012 – Assignment 2 Research Essay
RESEARCH ESSAY LAYOUT (follow these directions!):
Title page (title of essay, student name and ID, your tutor name, the date the report was completed). See
Page 2 for an example.
No headings or sub-headings are to be included in the essay. If used, then the document will be considered
to be a report and no mark will be given!
Introduction
In three moves
Opening generalisation that establishes the major topic and sub-topic
A brief reiteration/explanation of the essay topic
A statement of the writer’s intention in the essay
ONE paragraph ONLY.
Discussion (each paragraph in three moves)
Describe what various writers -at least THREE (3) – identify as the need for organisations to develop
their services offerings. This is known as the literature review. One paragraph only
Discuss how organisations design and build services to attract new and existing customers to buy
their services. Refer to the research you have presented previously in your research report. One
paragraph only.
Select and describe how TWO (2) organisations are building their services offerings. You may use
international examples as well as Australian organisations, from the financial services sector,
distribution services sector or the business services sector. Both organisations must be in the SAME
sector. One paragraph only.
Compare and contrast the two organisations’ approaches to building their services businesses. One
paragraph only.
HINT: For each paragraph, use some of the wording from the tasks here to help formulate Move 1.
Conclusion
In two moves (but in ONE paragraph):
Summary of essay. Clear signal: In conclusion, …
Concluding generalisation/writer’s opinion. Clear signal: In this writer’s opinion, …
One paragraph only.
References
Separate page, with a heading ‘References’
All listed sources cited in the essay (and no more)
Listed according to the author-date Harvard system, in alphabetical order of first named author
Page: 5
family name.
MME101 Business Academic Skills Assignment 2 Research essay marking guide
Student Name: ______________________________________ Student ID: ______________________ Lecturer: _____________________________
Learning Objective
Use quality sources appropriate to
the task
(max. 4 marks)
Page: 6
Level 1
Not acceptable
No journal articles are
selected or the articles
selected are of poor quality.
Articles are irrelevant to the
task.
(0 marks)
Level 2
Needs improvement
An inadequate range of
journal articles is selected.
Some articles are irrelevant
to the task.
(1 mark)
Level 3
Satisfactory
A reasonable range of
journal articles is selected.
Articles are relevant to the
task.
(2 marks)
Level 4
Good
A good range of quality journal
articles is selected.
Articles are relevant to the
task.
(3 marks)
(4 marks)
Analyse and synthesise information
(max. 6 marks)
The essay is mostly
descriptive.
No constructive analysis of the
information is provided.
Information provided does not
relate to the task.
(0 marks)
Some attempt to provide a
balanced discussion has
been provided.
No constructive analysis is
provided.
Some information provided
relates to the task, but is
incomplete.
(1.5 marks)
A balanced discussion has
been provided.
The constructive analysis is
cursory.
Information provided
related to the task but is
cursory.
(3 marks)
A balanced discussion has
been provided.
Information covers the
breadth of the task, and shows
some depth.
A constructive analysis is
present but lacks depth.
(4.5 marks)
(6 marks)
Use in-text citations where
necessary with corresponding
reference list entries presented
according to the prescribed authordate
(Harvard)
system
(max.
4
marks)
Write logically and coherently
(max. 6 marks)
TOTAL MARKS
(deduct 2 marks for extensive
spelling and/or grammatical errors)
References do not use the
Harvard method correctly.
Direct quotes are not utilised
or inaccurate.
In-text citations not utilised or
inaccurate.
(0 marks)
Poor introduction, no
overview, and purpose.
Discussion is disjointed and
fragmented.
No conclusions drawn.
Paraphrasing closely
resembles quotes.
Too much quoted material is
provided and presented
incorrectly.
(0 marks)
/20
An attempt to use the
Harvard method has been
made, but not yet correct.
Direct quotes are mostly
inaccurate.
In-text citations are mostly
inaccurate.
(1 mark)
Introduction provides little
information.
Discussion lacks flow and is
somewhat disjointed and
fragmented.
Conclusion is cursory.
Paraphrasing uses too
much of the authors’ own
words.
Too much quoted material
is provided, and some
presented incorrectly.
(1.5 marks)
References provided under
the Harvard method are
accurate in most cases.
Direct quotes are accurate
in most cases.
In-text citations are
accurate in most cases.
(2 marks)
Introduction provides some
information.
Discussion flows well, but is
disjointed or fragmented in
some places.
Conclusion provides a
summary of the essay.
Paraphrasing correctly
portrays others’ ideas in
student’s own words.
Too much quoted material is
used, but are presented
correctly.
(3 marks)
References provided under
the Harvard method are
accurate (perhaps some
minor errors).
Direct quotes are accurate.
In-text citations are accurate.
(3 marks)
A good introduction with
overview and purpose.
Discussion has a logical flow,
but is a little fragmented.
Conclusion provides a
summary and opinion of the
essay.
Paraphrasing correctly
portrays others’ ideas in
student’s own words.
Fewer quotations could be
used, but are presented
correctly.
(4.5 marks)
Level 5
Outstanding
A good range of high
quality journal articles is
selected.
Articles are relevant to the
task.
A balanced discussion has
been provided.
The constructive analysis
shows depth of knowledge
and insight.
Discussion has a logical
flow and coherent line of
arguments.
References provided under
the Harvard method are
accurate.
Direct quotes are accurate.
In-text citations are
accurate.
(4 marks)
Excellent introduction,
with a clear overview and
purpose.
Information clearly covers
the breadth and depth of
the task.
Conclusion provides a
summary and opinion of
the essay.
Paraphrasing correctly
portrays others’ ideas in
student’s own words.
Quotations are used
sparingly and presented
correctly.
(6 marks)
MME101 Business Academic Skills Assignment 2 Research essay marking guide
LECTURER FEEDBACK:
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Page: 7SOLUTION
Service Industries are important in building economic growth
As economies develop, the importance of services in the economy too increases (Roland T. Rust & Ming-Hui Huang, 2012). Services contribute the maximum to the gross domestic product of developed countries like United States of America. The process of economic growth is accompanied by enhancement in the quality of human resources. Services like financial services require high quality of human resource. By employing these human resources they contribute to the growth and development of the national economy.
The importance of service industries to the national economies and global economy as a whole can be seen from the acquisitions that have been made lately in the services sector. Strategic acquirers are actively seeking growth opportunities, primarily in financial services, technology, energy and utilities (John McManus, 2012).
Services are not only in significance in developed economies but are also playing a very significant role in the growth of developing economies like Brazil, Russia, India and China. Actually services already have the biggest share of the GDP pie of India.
August et al (2006) are of the view that organizations need to develop their service offering in order to sustain their competitive advantage in a business environment where product differentiation among competitors is getting blurred and hence products are more or less turning into commodities.
Aleksandra Reidl (2010) argues that the flow of foreign direct investment is shifting more to the services sector than to the manufacturing sector. Services organizations therefore are likely to attract more foreign direct investment in near and medium term than manufacturing organizations.
Reidi (2010) argues that service organizations are characterized by low installation costs. Foreign direct investment in the services sector is therefore likely to adjust itself to the desired level at a much faster rate.
John E. Ettlie and Stephen R.Rosenthal (2011) argue that service organizations are more likely to convert new innovations into commercial success.
Organizations design and build services keeping in mind the service needs of their existing and target customers. Organizations are pulling together physical product or tangible aspect with the intangible or service aspect for leveraging cost, quality and service. Examples of such organizations include Wal-Mart and Dell (John McManus, 2009).
One such company that transformed itself into more of a service organization than a manufacturing or commodities organization was American behemoth GE. With Jack Welch at its helm GE successfully nurtured its financial services arm GE Capital.
Many organizations have developed their service offerings around their product or commodity offering in order to strengthen and sustain their competitive advantage. Better service offerings increased the satisfaction rate of the customers of these companies and created an important area of differentiation. Customers are ready to pay higher prices for their products because of better service offerings of these companies.
Adding service offerings to the product or commodity goes a long way in customer relationship management. Once the product is sold it is through better service that the company can manage its relationship with customers. The goal of customer relationship management is to generate the lifetime value of the customer for the organization. Customer relationship management creates more loyal customers for the organization. These customers make repeat purchases from the organization and also spread positive word of mouth about it.
Organizations which are developing services are increasingly using automation to replace labor for increasing their service productivity (John McManus, 2009). Take for instance the case of telephone customer service. Earlier for getting customer service over telephone customers had to call the telephone company and talk to the customer service representative. Now increasing number of telephone companies are replacing this system with the more cost-effective automated telephone systems (John McManus, 2009).
However increasing service productivity through using automated service systems instead of human systems has its pitfalls also. As many telephone customers will vouch for this that they found fully labor based customer service system better than automated systems.
Roland T Rust and Ming-Hui Hang (2010) argue that empirical evidence also suggests that large service organizations are likely to become too productive relative to optimal productivity and should therefore place less emphasis on cost reduction through automation of services. They should place more emphasis on service quality rather than only on cost reduction through automation. Automation or cost reduction should not be at the cost of customer satisfaction. Cost reduction measures through automation should only be implemented after ensuring that quality of service and customer satisfaction are not compromised.
Technology’s role and significance in service organizations has increased considerably. Technology has enabled these organizations to create higher profits and maximize returns for their shareholders and stakeholders.
Information and communication technology has enabled increasing number of people to participate in increasing number of service related activities without having to be physically present (John McManus, 2009).
Macquarie Group Limited is a diversified financial services group headquartered in Sydney, Australia. Macquarie is currently in the process of reorienting its financial services model. The need for this reorientation came because of the financial crisis that struck in 2008. Before 2008 Macquarie’s financial services were dominated by infrastructure financing. The company took advantage of cheap capital to finance its exponential growth in markets outside Australia. This tremendous expansion meant that now Macquarie had assets, especially those in infrastructure, in every corner of the world. It ended up owning stakes in airports in developing countries, toll highways and bridges, transmission lines, power utilities etc. In 2007 a Macquarie led syndicate bought UK utility Thames Water for $ 12.6 billion.
In the aftermath of the 2008 financial crisis Macquarie is reorganizing its financial services model in many ways. It is diversifying its investment portfolio by increasing its holdings of non-infrastructure assets. Macquarie has also started focusing more on investment banking and trading – two of its traditional areas of core competency.
Macquarie is also slowing down its expansion. Its strategy now is to expand in those businesses in overseas markets where its financial services have a competitive advantage.
Macquarie is also diversifying its asset financing business to include more of financing of non-real estate assets. The bank is also focusing more on high growth markets of emerging economies rather than on low growth markets of Europe and North America.
Macquarie’s reorganization of financial services is now based on two factors which viz.: identification of financial service areas where it can create a competitive advantage and identification of markets where future growth lies.
One of the objectives of this reorganization of financial services by Macquarie is to create wealth for its shareholders. From their peak days of A $ 97 per share, shares of Macquarie are now trading at only around A $ 25 per share.
Citi bank is another financial services company which is building its financial services offering in a different way after the 2008 financial crisis. The bank is reducing its dependence on consumer loans and is increasing its focus on transaction services and corporate loans. Because of its global presence Citi has a natural competitive advantage in transaction services like trade finance. The bank is now leveraging this natural competitive advantage for maximizing value for its customer and shareholders. In the first quarter of 2012 Citi’s revenue from transaction services stood at a whopping $ 2.7 billion.
In its 200th year Citi is striving to develop new areas of financial service so that it can support economic progress and can benefit from the high growth of emerging markets.
Citi decided to reduce its consumer lending after delinquencies on credit card loans increased in the aftermath of 2008 financial crisis. Consumers found it difficult to service these loans as unemployment increased and wage hikes were kept on freeze.
Facilitating international trade flows through trade finance has been one of traditional strengths of the bank. The increase of globalization has increased the demand for international trade finance. Citi is now using its core competency in trade finance, acquired over the years, for catering to this demand. Transaction services are low margin high volume businesses but they are also less risky and are a source of constant stream of revenues for financial service companies.
Both Citi Bank and Macquarie had to change their focus area of financial service after the 2008 financial crisis. Macquarie is emphasizing more on diversifying its investment portfolio while Citi is focusing on less risky transaction services. Both the companies are developing financial services where they can create a sustainable competitive advantage. Through this competitive advantage they can create more value for their customers.
Macquarie and Citi Bank are using effective and efficient promotional strategies to reinforce their presence in their new areas of focus. And by focusing on these services they may not only end up creating satisfaction for customers and wealth for their shareholders but will also make a significant contribution to national and global economic growth.
References:
John McManus, 2009, The Service Economy, Management Services
BG Auguste, EP Harmon, V Pandit, 2006, The right service strategies for product companies, Issue 1, McKinsey Quarterly.
Aleksandra Riedl, 2010, Location Factors of FDI and the growing services economy : Evidence for transition countries, Economics of Transition, Volume 18.
John E Ettlie, Stephen R. Rosenthal, 2011, Services versus Manufacturing Innovation, Product Development and Management Association.
Roland T Rust, Ming-Hui Hang, 2012, Optimizing service productivity, Journal of Marketing, American Marketing Association
Edward Nissan, Miguel-Angel Galindo, Maria Teresa Mendez, 2010, The future of services in a globalized economy, The Service Industries Journal
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