Introduction and Background of the Study
This paper discusses in detail the research proposal that examines the perception of the administrators in CitiFinancial regarding branch expansion. Basically, the researcher attempts to identify the impact and factors related to branch expansion. It attempts to discover the feasible plan in order to have a successful branch expansion. This includes discussion of its history, the current status of CitiFinancial in terms of branch expansion, and its impact to the overall progress of the organization. Specifically, this proposed research explores the perceptions of the respondents and their view regarding branch expansion.
RESEARCH QUESTIONS
The following research questions will be explored in the study:
Ø What are the supplies needed for the project (e.g. labour force, building materials, supplies after expansions such as office personnel, office materials, etc.)?
Ø How much will 25 branches expansions cost?
Ø Which locations are potential places for CitiFinancials to operate?
Ø How much people does CitiFinancials need for a single expansion project?
a. the number of people for the project management of the expansion?
b. the required number of staff once the expansion has been completed?
Ø Is using integrated supply chain described OSD Comptroller iCenter effective for the project?
The research questions will be explored qualitatively by conducting interviews with the engineering management of CitiGroup Inc. in Hong Kong.
STRATEGIC IMPORTANCE OF THE RESEARCH
The research will have a strategic importance in identifying barriers and problems that CitiFinancial may face during its expansion. Further, the research will make the expansion easier for the company.
Expansion projects are difficult because there are many things to consider. There is the budget, the time-frame, the supplier and the resources (human and tangible resources). CitiBank is planning to expand 25 more branches for CitiFinancials in Hong Kong – a feature that requires extra preparation and research. This study will assess the probability of that process by identifying key variables that would bring problems in the process. By knowing how much budget is needed, how much timeframe is needed and how much man-power is needed, this study would be able to predict the success of the expansion in Hong Kong. Further, identifying the advantages that an integrated supply chain approach can contribute to the project would help in its development.
Review of Related literature
Traditional supply chains can be problematic. According to Sabath (1995): “…each step back in the supply chain, volatility of demand increases and forecast accuracy decreases”. The reason is because it relies on at least three discrete inventory buffers to smooth the flow of goods through production and provide a reliable response to volatile consumer demand (Sabath, 1995). Traditional approaches also react very slowly with the demand trends and also treat all items very much the same. This is not the case in the integrated approach (Sabath, 1995). An integrated supply chain is linked organizationally and coordinately with information flows, from raw materials to on-time delivery of finished products to customers (Sabath, 1995). Partnering-oriented business relationships are established between, and among, all supply chain members to facilitate coordination of supply chain activities (Sabath, 1995). Sabath (1995) explained that integrated, coordinated supply chain “super organizations” are extremely responsive and can react quickly to support a partner company’s rapid growth.
According to OSD Comptroller iCenter (2006), the advantages of supply chain management include: quicker customer response and fulfillment rates; greater productivity and lower costs; reduced inventory throughout the chain; improved forecasting precision; fewer suppliers and shorter planning cycles; improved quality and products that are more technologically advanced; enhanced inter-operational communications and cooperation; shortened repair times and enhanced equipment readiness; and more reliable financial information. This study will aim to identify if these characteristics are achieved by CitiFinancials in their expansion in Hong Kong.
CitiFinancials is one of the pioneers and most respected in the consumer finance industry. Established in 1916, the company have managed to expand around the world and become one of the top financial companies today (CitiFinancials, 2007). The company offers personal loans, home equity loans, identity theft solutions, rate reduction plans, auto loans, and other financial services (CitiFinancials, 2007).
As a subsidiary of Citi Corporations, CitiFinancials is available throughout the world including Asia Pacific – the location this study concerns. Specifically, it already has a branch in Hong Kong serving the people there, handling their financial needs. Specific locations in Hong Kong are: Admiralty, Causeway Bay, Central, Hunghom, Kwun Tong, Mei Foo, Mongkok, North Point, Shatin, Tsim Sha Tsui, Tsuen Wan, Tuen Mun, Wanchai and Yuen Long (CitiGroup Inc., 2007a). In the 8th of January, CitiGroup opens three new CitiFinancials branches, specifically in Jordon, Kwai Fong and another in Yuen Long (CitiGroup Inc., 2007b). Basically, the aim of building a presence is not just for profit reason but also to offer convenient services to customers among all segments or walks of life. According to CitiGroup Inc., 25 branches will be targeted to open by the end of 2007. This paper presents a briefing on the expansion and argues the reason on why such action is needed. It presents the problem to be solved, the main hypothesis, the methods and the procedures of undergoing and pursuing the project.
The expansion of CitiFinancials is a major breakthrough for CitiGroup in Hong Kong. The key locations where it expanded will offer more versatility to the company’s tremendous services. However, there are still several problems that the company should explore first to ensure the positive impact of the expansion project. For instance, because it is concern with expansion, there is a need to identify who will lead the engineering department, who will manage the supply chain, etc. 25 more expansions that CitiFinancials plan also require sufficient survey of potential areas where the new infrastructures would be developed. Specifically, this study will focus on the supply chain side of the project. The problem with the expansion is identifying the right supplies to use for the project, generally the overall management of supplies needed to be used for building infrastructures. The following variables will be explored in the study:
Ø Location
Ø Cost
Ø Safety
Methodology – the approach
The study generally aims to identify the supply issues in the expansion of CitiFinancials. The following are the specific aims of the study:
1. To be able to identify the supply chain needed by CitiFinancials in their plan to expand 25 more branches in Hong Kong.
2. To be able to determine problems in terms of costs and time duration.
3. To be able to identify the obstacles in terms of land expansion in Hong Kong.
4. To be able to identify problems in human resource in the expansion of CitiFinancials in Hong Kong.
5. To be able to identify key safety issues that the engineering department should handle.
6. To be able to identify if integrated supply chain approach would help to make the expansion faster and less costly.
To be able to recommend key strategies in expanding in Hong Kong, the study will explore the problems presented by means of qualitative research.
Data Collection
Interviews will be conducted to the management of CitiFinancials, specifically the department that handles the expansion project. Questions will be asked regarding plans of purchase (e.g. supplies, equipments), how many people to be hired, the planning cycles for the expansion, and the forecasting plan and how precise it is.
The interviews will be conducted personally. A tape recorder will be used during the interview so that the recorded responses will be transcribed later for analysis and documentation.
Data Presentation and Analysis
The data analysis will be critical interpretation of the answers. Answers will be compared with current literatures about integrated supply chain to identify if CitiFinancials would be able to save cost, resources and time with its supplies for the expansion project.
Required resources are the related journal articles, tape recorder, log notebook, laptop computer, word processor software and other research tools. The significant risks are the following:
Ø Natural risks such as unexpected incidents, calamities and disasters.
Ø Financial risks.
Ø Lack of participation among respondents.
Conclusion
As seen in this research proposal, the research should undergo stages. In the research design, the researcher should collect secondary data and formulate and develop the questionnaire and interview. In this stage, these instruments should be subjected to approval and validation. During the data collection, the researcher must collate and summarize the data obtained from the questionnaire and survey. The researcher will analyze these data and from these, the researcher might come up with findings and recommendations that shall be presented in the actual research paper.
RECOMMENDATION
From the discussion of the research context, it is recommended to use an outline for the proposed research project i.e. to determine the underlying factors and perceptions regarding branch expansion of CitiFinancials. Based on this proposal, the research paper should have five chapters. The First Chapter should present the background of the study, the objectives, research problems, methodology, the study’s scope and limitation and its significance. In Chapter 2, literatures pertaining to branch expansion, management and CitiFinancial variables are discussed. In Chapter 3, the methodology used will be discussed for this study. In Chapter 4, the results of the conducted survey and interview are presented. And in Chapter 5, the study summarizes the findings and provides conclusion and recommendations. This research study has a broad range of topics regarding branch expansion of CitiFinancial. Although the focus is on the perception of the respondents, other considerations such as the needs of the respondents, materials needed in expansion, and other general information about business expansion are discussed. The outcome of this study is limited only to the data gathered from books and journals about expansion strategies, business setting, and business management and from the primary data gathered from the result of the questionnaire survey and interview conducted by the researcher. As the research was completed in a limited period of time, other factors and variables are not considered. This might have an impact on the results of the study.
Credit:ivythesis.typepad.com
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