Essay
How to manage divestment process of Standard Chartered Bank
Standard Chartered Bank in Hong Kong, unveiled strategies to double returns and dividends by doubling its returns and dividends cutting costs and increasing income. This has been done despite missing its targets in the difficult market conditions. As a manager of this bank, if some customers are not profitable, the divestment process should be managed. This could be done by;
Establishing a contract that separates work and stream governance. This step aligns roles and responsibilities in the bank and workflow that collects contracts stored for dispositioning. A central tracker is managed by contract separation group with inputs on the stakeholders (Gole & Hilger, 2009). The best divestors approach divestures in the same level of planning in bringing acquisitions. In most scenarios, different teams have differing unique skills like experience in accounting in corporation and divest business. Embracing this discipline will benefit Standard Chartered Bank.
Also, testing for fits and values. In identifying the right divesture targets, discipline is required in such application. The managers are moved to divest what is best for the company in regards to the business cycle. Through this, the bank is able to sell on its own terms in the markets like strategic adjustments when investors expect it to develop at a steady pace. Firms place emphasis on value to be able to keep the profits coming.
Planning for De- integration. Managers ought to determine the kind of separation best for needs of the bank and carefully work in implementing the steps for generating maximum values from separation. Divestures take two key forms (Gole & Hilger, 2009). Standard Charted Bank ought to choose the outright sale either on strategic customers or financial buyers. Good divestors plan how it unfolds on the integration. Divestors define the boundaries of any divested business by determining specific assets separating from the company and transfers it to the divested unit. Establishing boundaries is not easy and legal business can get thorny quickly. It pays time to coincide with proceeds.
Also, providing a compelling logic for the buyers and employees. The best divestors communicate what is happening. This involves convincing and giving honest answers. A nice way of addressing the question in allocating value is structuring the deal with customers when divested business grows successfully. In developing a logic for divesting a business seller ought to take steps in boosting its performance and producing great results.
Besides pricing agreements should be set up. It needs to be flexible and important not to be the last price. Negotiating transaction service agreements. TSA is driven by the kind of buyer, the commitment the buyer has on customers and employees. Here, the seller ought to think of guiding principles and ensures the principles give a deal team in ensuring the commitment works. All agreements make an obligation to a seller through divestiture. The bank will be well established through divestiture and customers will enable continuity.
Types of customer analytics
Organizations quantify, classify, categorize and track customers before they have made a purchase. As a shop manager of Wellcome Supermarket in Hong Kong, the types of customer analytics to be collected include; Customer segmentation analytics (Putler & Krider, 2012). This include the demographic data collected like gender, age and income in the market. Self-described attitudes and preferences on the products categories and technologies including personas in the supermarket. From the supermarket, those data can be collected from the items bought, registrations, surveys interviews and also contextual inquires.
Having the ability to assess customers and splitting them into groups that could buy more of one product than another or purchasing more often which allows one to cut marketing and communication efforts. The internet is an important source of customer information which helps business identify clear groups based on data and text analysis.
Also, behavioral is another type of customer analytics (Putler & Krider, 2012). These involve general patterns exhibited when using products and services. For instance, buying products, registration, browsing, and using different kinds of devices. In Wellness supermarket, customers of purchasing some type of product, like electronics and home furniture, tend to research the items on their phones during night times and buy on their desktops. In the behavioral type, it encourages changes in the behavior of the customer. Any person can change in the phase of customer relationship but most efforts focuses on acquiring the items.
Also, interaction as a type of customer analytics, includes the clicks, navigation ways and browsing operations on the website. This type focuses on granularity of real interactions with customers. Wellcome supermarket can get reviews from customers on their products and delivery. These actions determine factors for customers satisfaction. This requires feedback from customers and use of monitoring system to find issues before they are identified.
Social media analytics, gathers information from customers online regarding their business, products and services. Texts from customers are gathered and commercially put together using analytics and sentiments. The real control of social media is its real time, meaning if unhappy customer can be spotted, quickly, the business will have a chance to change the situation and create a loyal customer.
Besides, attitudinal customer analytics focusses on preference data, opinions and ideas that are from surveys taken in the business (Putler & Krider, 2012). Questionnaires are used based on interactions and actions affected by attitudes. These attitudes affect some attributes in the descriptive grouping. Businesses fail t use more of the customer data they have collected and achieve many different benefits from sharing it to consumers.
Sharing data is significant in Wellcome Supermarket in Hong Kong. It can create a trusted level in the decision of that customers in making decision and bring opportunities to monetizing data. This data needs little analysis based on openness and sharing and not giving deep insights. Through this assessing the customers on their products and services is important. Here, you can know where to improve in your business and what customers tend to value.
References
Gole, W., & Hilger, P. (2009). Divestitures. Mississauga, ON: Society of Management Accountants of Canada.
Putler, D., & Krider, R. (2012). Customer and business analytics. Boca Ratón, Florida: CRC Press.