Research Topics: Free Sample Thesis

Strategies in the Computer Market : A Case Study of Dell

Adapted from: “Dell Computer Corp.”, Deutsche Banc Alex. Brown   Dell was the pioneer in selling its products directly to customers, without the intervention of distributors, retailers or any re-sellers. Before the Internet became a major force in the commercial arena, Dell used telephone, fax, and field-based representatives to contact and serve its customers. Today, the company has seen the power and potential of the Internet, moving a large part of its strategy to leverage on it and using “traditional” channels as complementation.   The direct model is a very efficient “customer built to order”, high velocity, low cost distribution system characterized by direct customer relationships, built-to-order manufacturing, and products and services targeted at specific market segments. This model is applying both on the customer and the whole value chain to include all the activities involved to deliver best customer satisfaction. The direct relationship with customers also allows Dell to benefit from real-time input and feedback from them regarding product and service requirements, products on the market, and future products they would like to see developed.   Customer built to order products are feasible, due to the flexibility of the manufacturing process which, together with strong supplier partnerships, enable the company to achieve faster inventory turnover and reduced inventories. This also results in a reduced risk of obsolescence, rapid incorporation of new technologies, and reduced time to market, factors that in a fast changing industry like hardware are determinants of success. But products are not the only ones that are customer built. The direct relationship with the customers also allows Dell to offer service and support programs designed to meet specific needs (2000).   Figure 8. Dell’s Direct Model Overview               Adapted from:  2000   Dell’s Suppliers-procurement Dell does not follow the policy of “we have to develop everything” that so describes IBM and Compaq historical attempt to build many components by themselves. On the contrary, Dell seeks for the best in class suppliers for these components and avoids the high fixed costs of the facilities and research and development that being the best in class in any supporting technology entails. This has allowed Dell to grow at more than 50% per year without having to commit the amount of capital required to build plants that Dell could use to be faster at getting the products to the customer.   In order to address the above mentioned needs, Dell has built strong partnerships with suppliers. Dell’s practice since the very beginning has been to have as few suppliers as possible (today, 40 suppliers provide 90% of Dell’s material needs) and keep them only for as long as they maintain the leadership in technology and quality. The partnerships are so solid and trustful that Dell’s suppliers know exactly what the daily production requirements are. Information and plans are shared freely and openly with them. Dell’s suppliers have access to information on the level of inventories and also incoming orders; they also ship to Dell every day and every hour, as the company requires. In addition, Dell’s ability to operate in a just-in-time (JIT) basis was facilitated by its suppliers, who have built warehouses for their components within 15 minutes from any Dell factory.     Industry Analysis Companies in the industry sell to a few large customers/buyers. Likewise, the industry also displays an apparent impracticality for customers/buyers to switch from one source of supply to another. This is reflected by the cost of raw materials as well as the costs of operations. Moreover, the products offered by companies in the industry are essentially interchangeable and indistinguishable. The product could also be considered as a commodity for the computer industry. Moreover, the industry shows that the cost of the product and service represents a relatively large percentage of the buyer’s and customer’s total cost. Nonetheless, the customers could if desired backward-integrate specifically by acquiring a company in the industry to which Dell is included.   The computer industry all over the world is promising. With the current changes in the lifestyle of people and the contributions of technological advancements, the industry growth rate could be deemed in its progression stage. The major industry trend is the emerging culture of all-around computer that will cater to the needs of the clients. Consumers are more knowledgeable and demanding on what product to purchase. The critical success factors of the industry are its ability to serve the needs of the clients as based on the changing lifestyles, consumer behavior, and marketing strategy. Also, the idea of continuous innovation is considered as the most important critical success factor.    Suppliers’ Power Many suppliers provide raw materials to the industry. Moreover, companies in the industry are not likely to backward-integrate. On the other hand, it could also be posited that the companies in the industry are the primary source of revenues for the suppliers. This makes the competition among suppliers more rigid. Likewise, if raw -material costs get out of line, companies in the industry would be able to have a hard time using a different type of raw material to produce the product. The industry is also characterized with the quality and costs of raw materials having a significant impact on the quality and price of the products and services produced by the industry.   Moreover, the raw materials provided by suppliers are essentially interchangeable and indistinguishable. The raw materials are essentially commodities. Likewise, in an industry where loyalty is also considered necessary, there is also the possibility for the suppliers to forward-integrate.   Rivalry among Competitors Companies in the computer industry considered to be diverse in their history and culture and in how they do business. Moreover, the product/service sold by the industry has low storage costs or is not perishable. Nonetheless, the industry is experiencing fast market growth. The products offered by companies in the industry are essentially interchangeable and indistinguishable. It has also been established that the product provided by the company is a commodity to a major part of its stakeholders. Moreover, it also shows that there are considerable numbers of large competitors that dominate the industry.   In the said industry, companies in the industry have high fixed costs and spend a lot of money on plant and equipment. Likewise, production capacity, to be economically feasible, must be done in large, expensive increments. Significant barriers as well hinder companies that want to exit the industry. These include regulations, labor agreements, costs of closing facilities, and the absence of secondary market for assets. In addition, it could also be observed that staying in the industry is of great strategic importance to companies in the industry, probably because they have nowhere else to go.   Threats of New Entrants The economies of scale play a significant role in the cost of produce the product and service. Companies in the computer industry have competitive fixed costs and spend relatively large on plant and equipment. Moreover, competitors in the industry are not likely to cut their price to defend their market position. In an industry experiencing fast market growth, patents, proprietary knowledge, and brand reputation are also considered as barriers for companies entering the industry.       Threat of Substitute Products The price of substitute products is more expensive. This provides the industry a great following. Moreover, the quality, features and benefits of substitute products are generally lower.   Analysis of Major Competitors In this sternly aggressive business world, the goal of most firms is to establish distinctive or unique capabilities to gain a competitive advantage in the marketplace through utilising the most of their core competencies. Competencies refer to the fundamental knowledge owned by the firm (knowledge, know-how, experience, innovation and unique information), and to be distinctive they are not confined to functional domains but cut across the firm and its organisational boundaries (2002). Having a competitive advantage is having a difference, the choice of certain activities to deliver a unique value-mix to a selected market, thus the ability to perform particular activities and manage the linkages between activities is the key source of competitive advantage. The strategic task, then, is to create a distinctive way ahead, using whatever core competencies and resources at its disposal, against the background and influence of the environment. Through these distinctive capabilities the organisation seeks sustainable competitive advantage. Competition in many domestic and international markets appears to be entering a new phase, in which product quality and performance are becoming more important to customers than price. In such markets, the effective management of the new product development process is the essence of competitive advantage. Dell’s major competitors belong to an oligopolistic market. Competitors such as IBM, Compac, Microsoft, and Nextel are all competing in in the computer market. All these competitors are aiming for corporate sustainable competitive advantage. To address the stiff and rapid competition, Dell’s ongoing new product development and appropriate marketing strategies are the keys to success in the market. The company and its whole workforce maintained its reputation as an innovator by responding to competition and consumer lifestyle trends particularly with the new additions to its satisfactory product line.   Dell’s Strategic Capability Like other major players in the computer business, Dell is also an international company, which deals with a variety of clients, although Dell is more product-oriented compared to other companies, which are mostly serviced-based company. In response to the need of Dell to develop and improve in terms of technology and the use of the World Wide Web, it has been able to come up with marketing strategies that would provide the needs of their customers.   In line with Dell’s aim for development with global focus, the company was able to adopt a strategy, which enhances its technology development through information systems operations. This strategy was able to increase staff retention rates, and decrease staff turnover, which brings greater continuity and efficiency to the company’s projects. Moreover, in terms of internet communications, Dell has a single global center of excellence for e-commerce IT, made up of collocated businesses and staff, distributed in international offices. In accordance to this, Dell was also able to implement and introduce another feature of dell.com, the Cyber Shop and Direct Marketing, which is its developed key global platform, designed for commercial customers in other countries. The Cyber Shop and Direct Marketing approach includes services for global markets that are being used regularly by corporate customers. Moreover, as an response to the need of security, the company has developed a second-generation internet technologies, exposing customers to intelligent, personalized content and better targeted marketing, and this feature allows the customers to save time, avoid repetition of tasks by pre-filling in application forms, to come back to a product offer, and get to the end of an application process. Furthermore, the company has also developed the successful credit card authorization and accounting platform, which consists of linked applications, such as credit assessment, risk-based pricing, card ordering and transaction processing and reporting. These strategies enabled Dell to gain competitive advantage over their competitors, by implementing an effective and efficient Internet-based information system. These strategies become relevant to the problems of Dell because like other companies, they can also develop the same strategies and use them for their own advantage.   Success in any company that operates for marketing and profit acquisition lies on the ability of the management in positioning and establishing the products/services being offered. Furthermore, the ability of the company and its management to compete and maintain a competitive edge among its competitor is another basis to say that it is successful. The constant development and innovation on the product line and the growing number of clientele also define the corporate standing of a company.   As part of the development in Dell, this part of the chapter analyzes the strategic capability of Dell Computer. In analyzing how Dell Computer is competitive, the study utilized SWOT and value chain analyses for the industry attractiveness as well as the key internal strengths and weaknesses. Practical and strategic recommendations are elicited in relation to some pitfalls observed in the study.   SWOT Analysis   STRENGTHS     WEAKNESSES   1.      Wide knowledge of computer industry 2.      Competent top management and rank & file for operation and maintenance 3.      Existing customer base 4.      Financial investment backing. 5.      Strong IT returns through internet shopping   1.      Low supervision on international market 2.      High turnover of employee 3.      Require local partner     OPPORTUNITIES     THREATS   1.      Expansion of target market 2.      Healthy market environment 3.      Increasing detraction of small computer businesses   1.      Economic restructuring 2.      Intensified competition 3.      Government regulation     Value Chain Management Analysis Firms respond to conditions in their marketplaces by modifying their competencies such as internal capabilities and linkages with suppliers and associates and the ways in which they position themselves in relation to their competitors specifically their strategic direction (1999). The value chain also is useful in retailing decision-making. Understanding the linkages between activities can lead to more optimal make–or–buy decisions that can result in either a cost advantage or a differentiation advantage. The goal of these activities is to create value that exceeds the cost of providing the product or service, thus generating a profit ( 2000). In the case of Dell Computer, the entire operation of the business should be examined and evaluated in order to determine the service delivery processes that strengthen as well as weaken the business. This will result to managerial options to eliminate the liabilities that detract the business or the need to developed and intensify some aspects of the operations.    Meanwhile,  (1996) believe that modern organizations passed by the guild structures and as organizations grew larger, skills become increasingly fragmented and specialized and positions become more functionally differentiated. Stakeholders are defined as the individuals or organizations which can either gain or lose from the success or failure of a system (2004).  (2000) said balance between enhanced company processes and renewed objectives should be critically appraised in order to ensure the success of the company. As such, stakeholder analysis reminds management that it is important to evaluate the interests of the individuals or organizations who can influence or can be affected by the activities of the company.   For Dell Computer, the management should be able to take means of identifying of the stakeholders, the priorities of the stakeholders; understanding of the stakeholders’ perspectives and incorporating the stakeholders’ perspectives to the future plans of the company. Moreover, the company should cultivate growing consumer markets to promote growth and development of the business organization. This will address the expansion possibilities of the organization to serve not only the locale consumers but also provide services to a larger customer base. As such international relations and the overall business practices and trends all over the world should be investigated so as to make sound decisions that will realize the goals of the company. Furthermore, the company should continue cultivating community relations and environmental efforts to increase market visibility and improve brand strength such as community programs that will advertise the humanitarian causes of the company, charity and scholarship programs, and advertising messages that translates the environmental concerns.   Service delivery is an interactive and dynamic process that from the consumer’s point of view is much more than a passive exchange of money for a particular service. Characteristics of services (e.g., intangibility, heterogeneity, simultaneity, and perishability) often require customers to be actively involved in helping to create the service value – either by serving themselves or by cooperating and often working collaboratively with service personnel. In high-contact systems customers can influence the time of demand, the exact nature of the service, and the quality of service ( 1978; 1979). If consumers somehow become better customers – that is, more knowledgeable, participative, or productive – the quality of the service experience will likely be enhanced for the customer and the organization (1990 ; 2000;  1998). In this regard, the company needs to strengthen relationship with suppliers and increase market share. This effort will result to parallel business interests that will contribute to the company as well as the suppliers’ business objectives. Contract agreements and other business transactions should present advantages and benefits for both parties. Efficient delivery of products and services through premeditated and tactical supply chain management initiatives should be prioritized.   As the nature of financial management, finance managers face a wide array of challenges, opportunities and options for him or her to enhance the investing and financing activities of the organization as well as the inherent risks and circumstances of the decisions that will be made. The challenge now for companies is to explore the options and take advantage of the opportunities while taking caution in managing the risks ( 1999). Dell Computer needs to keep operational expenses within budget to be able to devote the necessary financial resources to both exploration and marketing activities of the company. Financial management decisions that will supply for the internal and external business operations of the corporation should be closely monitored to be able to control the flow of cash. Investing on profit-generating projects as well as training-specific programs for the human resources of the company will ensure extended success. Dell Computer should enhance marketing campaigns and take advantage of company control over the computer industry competition. It should initiate efforts to come up with sound advertising and promotional strategies that will bring the people closer. Lastly, there is a need to improve technological innovations to increase efficiency as well as quality of the service. This includes investments on machineries and equipment that will necessitate the increased and efficient operation of the business organization’s management system. Financial assistance on human resources particularly to knowledgeable and skilled individuals should be accorded in order to improve the overall business operation as well as the engineering, monitoring, and control aspects of the business.   Key Internal Strengths and Weaknesses  (1996) emphasized the idea to take advantage of the competitive situation not just by being better in how that product gets sold, serviced, and marketed at the customer interface. It requires that companies create breakthroughs in how they interact with customers, and design a way of interacting that makes an indelible impression on customers, one that so utterly distinguishes them from others that it becomes a brand in itself (p. 14).   More than just a Computer Shop. Dell Computer is undoubtedly a complete computer shop in itself. Everything related to computers is literally found in one roof. No longer limited to hardware only, it offers services that would allow a customer to avail of everything in one stop. Besides the extra selling of books, CDs, digital music, videos, games, software, they also provide computer and installation services.   Enhancing Quality. Everyday, top managers of Dell Computer stores gather for an hour-and-a-half customer advocacy meeting to pore over that week’s performance statistics. What makes this unusual is that every performance measure under scrutiny relates to customer satisfaction, and this meeting is the most important one on the corporate schedule. The vice presidents discuss several measures, including on-time delivery (OTD), product returns and their causes, and abandonment rates for calls to Dell Computer’s toll-free number. But the company was already expending a disproportionate effort on getting production to match demand. The business was transformed into a “made-to-order” manufacturing operation with three- to four-day cycle times. The results are apparent. No failure in customer service is easier to identify, measure, and compare.   Satisfaction occurs when the product has been able to meet or exceed the conceived expectations that the customer has (1996). Furthermore, customer satisfaction may also be considered as the measure of the high degree of quality of the product (1998). As the customers demand for higher standards, any shortcomings on the part of the companies to deliver would jeopardize the life of their respective company. Hence, it is really important for companies to not only maintain and protect these intangible assets. It is also a must that they increase these assets for future benefits (2003). According to the study of  (1998), relationship with customers should not be regarded as a single transaction, rather, a long-term. Customer satisfaction is considered a must for customer retention and loyalty, and undoubtedly helps in realizing economic goals like profitability, market share, return on investment and other corporate target ( 2000). The management must be highly concerned with their customers’ welfare and satisfaction as this is one of the secret principles on being the leader in their area of industry.   Efficiency Enhancement. Dell Computer always put their efforts to do things “better, simpler and cheaper,” for their customers and employees. They usually enhance not by focusing on big aspects of the business, but by providing small enhancements. In customer welfare, consumer feedback system must be reinforced. The resolution of customer complaints and problems is a key for companies to be able to maintain the loyalty of their dissatisfied customers. Dissatisfied customers are more likely to tell people about their experience than satisfied customers are ( 1997). After finding out the problems from the viewpoint of the customers, Dell Computer should undertake actions that would not only address the complaints of the customers but as well as actions that would lead to organizational improvements.   In implementing marketing strategies, there is a need for continuing optimization – the ability to assess a myriad of possibilities in order to find the best one or near best one (2003). In cooperation with the other elements of marketing and business management, strategies must be evaluated and improved. In building the impression of people about the company, Dell Computer must reach out to a broader target market and must project an image relevant to every members of the society. Its corporate social responsibility must be defined.   In the management of Dell Computer, leadership and administration of the company must be a supplemental mechanism in the workforce. Human resources management improvements must be considered to fully utilize human asset. With the growing market and competitive edge of Sunbeam, its workforce also plays a significant role in materializing defined objectives and achieving success.   Synthesis Today, most companies like Dell Computer find it impossible to create any kind of sustainable competitive advantage based on product alone. It is common knowledge that every one of the successful companies sought and found a precise understanding of how it could create a customer-centered competitive advantage. Thus, there are numerous aspects that every management should tackle. In Dell Computer, the key internal strengths are the appropriate and effective marketing strategies used. On the other hand, the flaws of the marketing strategies implemented by the company serve as its major internal setback. Then again, the continuous effort of every company likes Dell Computer to improve its operational standards is the ultimate solution to emerging conditions brought about by different occurrences such as stiff competition, globalization, technological innovations and others.             Like other computer companies, Dell can also utilize and improve the use of the World Wide Web through several strategies:   <ul style="margin-top: 0in; margin-bottom: 0in" type="disc"> <li class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph; line-height: 200%"> Development of a Universal Website – Primarily, Dell must be able to utilize and maximize the use of the Internet, particularly of their own website by updating it regularly. Although the company is engage through Cyber Shop and Direct Marketing approach, Dell must make sure that the new models that they will be introducing in their website would be available to their entire market globally, for sometimes the release of the products are not simultaneous to all its target market. In line with this, Dell must be able to develop a universal website, which features its products, based on the needs and functions of the majority of its consumers. </li> </ul>   <ul style="margin-top: 0in; margin-bottom: 0in" type="disc"> <li class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph; line-height: 200%"> Improvement of the Universal Website – The Universal Website must be improved in the sense that it must contain an option of ordering directly to Dell, to avoid the delay in the distribution of the products to the respective countries. In relation to direct ordering online is delivery, which offers more convenience to customers. This online feature would be a good option for customers, especially in response to the extent of its reach and contact to that particular country. Similar to other computer business site, the improvement of the Universal Website offers services for global product purchase. </li> </ul>   <ul style="margin-top: 0in; margin-bottom: 0in" type="disc"> <li class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph; line-height: 200%"> Dell Credit Card – In line with the option of ordering and delivery being featured in the Universal Website of Dell, the company can introduce the Dell Credit Card, which can be used for the purchase of computer hardware and software products. With the use of this credit card, it would be easier for the consumers to avail the services and even the promos of Nokia. The use of the credit card will also allow the consumers to avail discounts from directly purchasing from the company. In addition, with this, transaction would be easier for both the company and its consumers. </li> </ul>   <ul style="margin-top: 0in; margin-bottom: 0in" type="disc"> <li class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph; line-height: 200%"> DellCustomerCare – To answer the needs and provide solutions for the various problems of many consumers, providing a separate website for Dell customer care would be essential. The provision of this website is specifically for answering the complaints of Dell customers through active chat rooms or through electronic mails. In this way, it would be easier for Dell to assess the need for the improvement and innovation of their products. In addition, the company can fully cater to the needs of their customers by providing them with answers, in the company’s aim for customer satisfaction, customer retention and brand loyalty.   </li> </ul>   From the problems presented by Dell, in terms of Internet marketing strategies, it can be deduced that their use of the Internet is not fully maximized, compared to the internet marketing strategies being implemented and developed by other computer companies. If the internet marketing strategies proposed in this paper will be used, then somehow, they can help Dell to utilize and take advantage of the benefits of the World Wide Web. It is essential that Dell will not only focus on product innovation and invention, but also on customer satisfaction, in providing solutions, and in brand loyalty and retention.                         </div> Credit:ivythesis.typepad.com

Strategies in the Computer Market : A Case Study of Dell

Adapted from: “Dell Computer Corp.”, Deutsche Banc Alex. Brown Dell was the pioneer in selling its products directly to customers, w...

A Degree Thesis on An advantage that the Credit Circles processes of supermarket in Hong Kong has significant effect on their development

present to Department of Accountancy,       An advantage that the Credit Circles processes of supermarket in Hong Kong has significant effect on their development           Abstract I will find some respondents who took part in this study are already mature in age, responsible and reliable. They are also aware of what’s happening in their organisation and are deeply concerned about the value of Credit Circles in Hong Kong Supermarkets and its impact on business development.  I will use computed ANOVA for find some different form Wellcome and ParknShop. I will confer Financial Report Synthesis that review of financial capabilities and resources towards business sustainability revealed very little inconsistencies regarding its strategies. I will confer that Wellcome and ParknShop they are any statuses in future in their parent company and when they’s current financial situation carries on consistently, which company and it will do any thing for contributes significantly to the progress of the firm as a whole                                                       Table of Content Abstract……………………………………….…..…………….2 Table of Content…………………………….…..………...…….3 Acknowledgement……………………………………..……….4 Chapter 1. Introduction…………………………………………….……..5-11 2. Objectives of the Study……………………………………………..….12 3. Literature Review……………………… ……….…………..13-27 4. Methodology…………………………………………..….…28-34 5. Finding and Analysis………………………………………..35-52 6. Conclusion……………………………………………..……53-58 7. Recommendation…………………………………………………58 8. Reference……………………………………………….………59 9.Appendixes …………………………………   …………….60-62               Acknowledgements I would like to thank for the persons who spent much contribution to this researcher. My supervisor,  exercised great patience on helping me with my data collection and analyses. He gave his knowledge and a perfect support over the whole period of this researcher, and especially at the last stage of completing this article during the final tense weeks. I also need to thank for my family, for all coffee, snack and their patience on my emotional feeling. Especially my father, he gave me much opinion for this research. Lastly, thank all of Lectures of  who have been very cooperative with the research, and positive with my response to my research.       Chapter 1 Introduction/Purpose   Background of the Companies Business development is very vital to the progress of companies. In any contemporary operating organisation, progress that the company is making is recorded as basis for, among a host of other essential things, decision-making and as a benchmark for measuring the firm’s performance for the period under scrutiny. A financial situation analysis is one such yardstick that documents current and future financial situation in an attempt to determine a financial strategy to help achieve organisational goals. As formally defined by Riahi-Belkaoui in 1998, financial analysis ‘is an information processing system used to provide relevant information for decision making’ (p. 1). The main sources of information for such analyses are published financial statements of the concerned company. Various accounts from published financial statements are evaluated in relation to each other to form performance indicators, which are then compared to ‘established’ standards. These performance indicators are better known as ratios, and constitute the main tools of conventional financial analysis. For the last several years, businesses have seen the rapid growth of the number of firms offering financial situation analysis services. This serves as a proof that more and more organisations are realising the importance of the analysis of their financial situations in order to keep up with the demands of the business world nowadays. As part of this development in financial aspect of the company, the issues concerning credit circles tend to contribute. PARKnSHOP is basically one of the two largest supermarket chains in Hong Kong (the other is Wellcome Supermarket). Currently, ParknShop manages more than 260 business branches in Hong Kong, Macau, and Mainland China. On the other hand, Wellcome Supermarket is also supermarket chain similar to ParknShop which was owned by Jardines via its Dairy Farm subsidiary. As stated previously, the Wellcome chain is also one of the largest supermarket chains in Hong Kong, and is the price leader of the market. Wellcome are also operating in the Taiwan.   Profile of Wellcome and ParknShop Supermarket chains are one of the most expressive businesses in Hong Kong today.  Basically, in 1973 PARKnSHOP was acquired by Hutchison Whampoa.  By that time Hutchison Whampoa was chaired by Douglas Clague. For a decade the store continued to be a local retailer until the mid-1980s the company started to expand outside Hong Kong. The concept of PARKnSHOP imitates the larger supermarket layout found in North America. Thus, it sells both Chinese merchandise and imported western goods. Currenlty, PARKnSHOP is a member of the A.S. Watson Group. On the other hand, WELLCOME, one of the competitors of PARKnSHOP also shows expressive development from its previous years of business operations. The company, was founded in 1945. Similar to PARKnSHOP, Wellcome is Hong Kong’s longest-established supermarket chain. Since 1964, the company has been wholly owned by Dairy Farm. Dairy Farm has other supermarket interests in the Asia Pacific under different brand names. It is significant to note that the appropriate spelling of the name of the supermarket should be “WELLCOME” (double L), instead of “WELCOME” (single L).   Vision & Mission From the previous discussions, this paper will be dealing with the current business development in PARKNSHOP and WELLCOME in accordance to credit circle issue.  To evaluate the current stance of these business organisations, the use of financial reports in accordance to their financial ratios has been considered. Atril & Mclaney (2004) mentioned that by calculating a relatively small number of ratios, it is often possible to build up a reasonably good picture of the position and performance of a business. Ratios help to highlight the financial strengths and weaknesses of a business, but they can not, by themselves, explain why certain strengths or weaknesses exist, or why certain changes occurred. Just by details investigation will find the reasons. Ratios can be grouped into certain categories; each of them identifies a particular aspect of financial performance or, position. There are five broad categories which define as follows: (1) Profitability; (2) Liquidity; (3) Financial Leverage; and (4) Asset Management (Pike & Neale 1999).  Basically, this paper will explore the answer to this question: “What is the current business stance of PARKnSHOP and WELLCOME in accordance to credit circle?”   Key Issue/phenomena This paper is an analysis of the business performance of two well-known supermarkets in Hong Kong i.e. PARKNSHOP and WELLCOME in accordance to credit circle. These companies are operating in a very tough and highly competitive industry. The main purpose of this paper is to examine the impact of credit circle to these companies.  This paper also attempts to evaluate what might be the other factors that can influence the company’s growth and its decision making and than to see the limitations of the financial analysis. These performance indicators are better known as ratios and constitute the main tools of conventional financial analysis. For the last several years, businesses have seen the rapid growth of the number of firms offering financial situation analysis services.  This serves as a proof that more and more organisations are realising the importance the analysis of their financial situation in order to keep up with the demands of the business world.    Rationale of doing the study Financial reporting is a continuous process that provides management information and financial statements. To effectively review interim and annual financial statements, the committee must understand the company’s business and industry, and the attendant risks. The committee should be satisfied that the key financial systems and the procedures and controls that support them will generate information necessary to manage and properly report on the operations of the company.             On the other hand, credit issues particularly the credit circle has a significant influence not only on the financial reporting at most companies but also to their overall business process. Thus, this study will be discussing the issues and impact of credit circles to the development of two-well known business supermarket chains in Hong Kong i.e. PARKnSHOP and WELLCOME.   Significance of the study This study plays a significant role in business development since many companies are now considering credit circle to be more competitive. Basically, these companies are embracing the strategy to their business and their overall business process to increase business development. Basically, credit circle is run by an administrator, often an insolvency practitioner. He will have had access to all the information provided by all the credit controllers/circle members and discussed at the business meetings. In addition, credit circles issues among business today is more related on the clearing of accounts in a credit clearing system which is very similar to the system presently used by banks for clearing checks. On the other hand, debit cards and electronic transfers can be used. Each business affiliate opens an account in a local credit circle and each account is assigned a credit limit, which allows the member to buy from others in the circle without necessarily having to earn credits first. The line of credit for each member can be based upon any of several criteria as judged necessary to provide adequate security to the system and ensure the continued value of the credits. The most conservative approach would be to require that each line of credit be secured by the pledge of collateral of some kind and of sufficient value to cover any possible default. Moreover, the study will be significant in management/business firms in a sense that it will broaden their knowledge about credit circle and will help them decide if the business strategy is more of an advantage or a disadvantage. Furthermore, it will contribute to business research. This can be used as a future reference for future research that will focus on other factors of credit circle or other issues concerning business and financial progress. In addition, this study might become of great use to different businesses because if ever proven in this study that a credit circle is more advantageous than disadvantageous, it will have a positive bounce on them. Research materials are useful in persuading people to adopt something new like the credit circle in business organisations.   Expected Outcomes and Scope of The Study In relation to the challenges in business, PARKnSHOP and WELLCOME should create effective and efficient strategies that satisfy the needs of modern society. Basically, this research study only covers the effect of credit circles to the said companies. The outcome of this study is limited only to the data gathered from books and journals about credit circles and business reports and from the primary data gathered from the result of the questionnaire survey and interview that will be conducted by the researcher. In accordance to the validity and reliability of the data, the researcher will provide necessary actions to support the collated data such as proper use of different methods regarding the determination of samples and selection of textual information. Although inconclusive, the results of this survey should be viewed as indicative of the status of credit circle in relation to PARKnSHOP and WELLCOME at the time of the survey.             This study shall investigate the impacts of credit circles to PARKnSHOP and WELLCOME. As stated before, the primary source of data will come from a company reports and from the questionnaire and interviews conducted by the researcher in PARKnSHOP and WELLCOME. The respondents of the study will come from the rank and file staff and the management team. The secondary sources of data will come from published articles from Business and finance journals, books and related studies on credit circles and business development. Moreover, this study provides a useful role to society since it depicts the future of a certain business with regards to business development. Furthermore, this study provides quantitative or statistical treatment for the findings. Additionally, all data will be addressed through interpretation and in-depth evaluation. Furthermore, the number of respondents is limited to 30 in total because of insufficient time and the difficulty of requesting and setting appointments for interviews. Finally, this study also focuses on the technical advantages credit circle since it is focused on the financial and other non-technical advantages that credit circle can provide.  After all, technical benefits should always result in improvements in the measures of organisational performance.   Aim of The Dissertation As previously discussed, this study will be considering the issues and impact of credit circles to the development of two-well known business supermarket chains in Hong Kong i.e. PARKnSHOP and WELLCOME. The issue thus is whether credit circles is significant to the business operation of PARKnSHOP and WELLCOME. The study aims to have a significant contribution the development of business process in Hong Kong particularly to the supermarket chains.         Objectives of the Study This proposed study seeks to achieve the following objectives: <li class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph; line-height: 200%"> To investigate the business operations of PARKnSHOP and WELLCOME; </li> <li class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph; line-height: 200%"> To determine how credit circle helps the business process of PARKnSHOP and WELLCOME; </li> <li class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph; line-height: 200%"> To evaluate the effects of credit circles on selected branches of PARKnSHOP and WELLCOME; </li> <li class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph; line-height: 200%"> To determine how credit circles can bring about mobility in the services of PARKnSHOP and WELLCOME; and </li> <li class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph; line-height: 200%"> To propose a business strategy to PARKnSHOP and WELLCOME.</li>                           Chapter 2 Review of Related Literature   Food distribution plays a vital role in the economy of any country and in the well-being of its citizens. In Hong Kong, food distribution is the nation’s largest business with annual sales reaching an all-time peak each year. Traditionally, typical families in the country have been spending approximately 25 per cent of their income for food. This percentage has remained relatively constant for many years. However, an increasing percentage of the family food expenditure is paying for meals served away from home, slightly reducing the share spent in the food store.  The development of supermarkets in the country offers help to the citizen by giving excellent services.  However, this development among supermarket chains has several variables in the business that needs consideration.  Issues pertaining to credit circles aside from other factors in the business such as leadership, innovation and motivation become vital.   The Credit Circle             Basically, financial issues affect the development of any business organisations. Credit development is one of the variables that are being considered by most businesses. Credit circle is essential to make a business successful especially in financing the business operations. Basically, from the corporate firm’s point of view the financial manager’s objective should be to invest in projects which add to corporate and shareholder value. Meaning to say, the manger should evaluate first the possible outcome of any credit or financial activities to be used in a certain business.  Actually, the problem is that at the outset it is often difficult to determine which assets or projects will be wealth enhancing and which will be wealth reducing. All the more reason people should employ good appraisal techniques and procedures to help us make the right choice. For a wealth-maximising business enterprise, the most common form of investment is in real corporate assets. Such assets are clearly very important since, for most firms, they represent the largest financial investment and are the key earning assets of the firm. In business, investment decisions are made for many reasons especially in credit circle issues, but although the motives may differ, the techniques used to evaluate them are essentially the same.       SLEPT and SWOT ANALYSIS of ParknShop and Wellcome   SLEPT ANALYSIS Social Influences <ul style="margin-top: 0in; margin-bottom: 0in" type="disc"> <li class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph; line-height: 200%"> The terrorist attacks in recent years have affected the consumer’s attitude on going to public places. </li> <li class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph; line-height: 200%"> There is a significant demand for retail merchandise in Asia.</li> <li class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph; line-height: 200%"> The merchandise sold in both ParknShop and Wellcome stores could be considered as basic commodities for the public.</li> </ul>     Legal Influences <ul style="margin-top: 0in; margin-bottom: 0in" type="disc"> <li class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph; line-height: 200%"> Lawsuits has become the basic defence of a shopper or an employee when they are subjected to a certain level of discomfort on stores</li> </ul> Economic Influences <ul style="margin-top: 0in; margin-bottom: 0in" type="disc"> <li class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph; line-height: 200%"> The Asian crisis and terrorist attacks globally has also affected the sales of the company</li> <li class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph; line-height: 200%"> Competitors are closely breathing down ParknShop and Wellcome’s neck</li> <li class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph; line-height: 200%"> ParknShop and Wellcome are currently expanding its market by looking to other opportunities aside from the supermarket industry.</li> </ul>   Political Influences <ul style="margin-top: 0in; margin-bottom: 0in" type="disc"> <li class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph; line-height: 200%"> The Hong Kong’s policies concerning businesses development has increase foreign investments.</li> <li class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph; line-height: 200%"> The government has ensured the security of companies by passing legislatures protecting them in order to provide more jobs for the Hong Kong public.</li> </ul>   Technological Influences <ul style="margin-top: 0in; margin-bottom: 0in" type="disc"> <li class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph; line-height: 200%"> ParknShop and Wellcome tapped the internet by installing a website for home shopping.</li> <li class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph; line-height: 200%"> A considerable number of internet home shopping companies has been established itself long before ParknShop and Wellcome.</li> </ul>   Actually, the organisation’s market environment context is thus made up of all the conditions and factors external to the organisation that can positively or negatively affect the life, orientations, structures, development and, in a word, the future of organisation. The research on an organisation’s market orientation would also be helpful in the study. Research on market orientation has centred on understanding the construct and examining its relationship to performance. Two important studies sought to define and operationalise market orientation. Based on an extensive review of the literature on sustainable competitive advantage and marketing strategy, Narver and Slater (1990) operationalised market orientation as consisting of three dimensions: customer orientation, competitor orientation, and inter-functional coordination. Using both a literature review and field interviews of managers, Kohli and Jaworski (1990) operationalised the market orientation construct as consisting of three basic components: intelligence generation, intelligence dissemination, and responsiveness. Intelligence generation extends beyond collecting information about customer needs and preferences to include information about the entire task environment confronting an organisation. To be market-oriented, an organisation has to communicate, disseminate, and often “sell” market intelligence to relevant departments and individuals in the organisation. (Kumar, Subramanian, & Yauger, 1998). And finally, the market-oriented organisation responds to or acts on the market intelligence gathered and disseminated. Year after year, sales, profits, and shareholder returns from this massive group of discount stores increase, defying economic cycles and the woes that seem to beset other retailers from time to time. Some argue the reason is market power: Kmart built its business by opening stores mainly in small communities where there was less competition. Others point to its systems: electronic linkages with suppliers that keep the shelves well-stocked at minimal cost. Another explanation is highly motivated staff, inspired by the late Floyd Hall’s habit of driving around visiting stores, and supported by concepts like teamwork and delegation. Paying attention to customers is also mentioned: at Kmart customers really do come first. And of course leadership, the most intangible but perhaps most potent factor in management cannot be ignored. Kmart represents a combination of factors – a thousand infinitesimal actions and decisions – that together have led to its unusual success.   SWOT ANALYSIS Strengths Actually, ParknShop and Wellcome’s strengths include competent top management and rank & file for operation and maintenance since their current CEO’s and their current restructuring plan contributes to the development of the company. Actually, CEOs of respective companies has proven themselves to be of grand worth to companies. ParknShop and Wellcome’s which is Subsidiary company. ParknShop and Wellcome’s which their CEOs of respective companies have proven themselves to be of grand worth to companies, they would keep customer base for make large profit. ParknShop and Wellcome’s was a competitor, so they also place compete for keep customer base. In my idea ParknShop and Wellcome’s which is Subsidiary company, so they also get large money support by parent company, than they can place compete but also have enough current cash for ruining.              Weaknesses As indicated, the weaknesses of ParknShop and Wellcome include their incapacity to contend with other small supermarkets on price, status, and inability to execute goals and strategy, and their corporate culture.   Opportunities The opportunities for ParknShop and Wellcome are their private-label merchandise, which has enhanced in both quality and value. Overseas Expansion is another prospect for all companies within the retail business. Even though ParknShop and Wellcome has lately pulled out of various global markets and ventures, they are still vigorous in others. Also, when they are throughout reformation, ParknShop and Wellcome will most likely have other chances for global prospects.   Threats As illustrated, the threats in front of ParknShop and Wellcome contain small businesses in Hong Kong viable pricing strategy. Small supermarkets in Hong Kong have also strong supplier dealings that make them suppression into lower prices. In accordance to this development and issues in food distribution, supermarkets which are relatively contributor in distribution of food are vital in society’s progress.  This part of the chapter will be discussing the reviews concerning businesses process of supermarkets in Hong Kong particularly WELLCOME and PARKnSHOP. In accordance to the value of credit circle, these supermarket chains also operate through the aid of various factors such as leadership, innovation and motivation. From this, literature has documented how these attributes had been applied in business. As previous researches had illustrated how these attributes have benefited entrepreneurs, the interest on them has substantially increased. The following literatures discuss the value of these three attributes to various business operations and to their initial development.   Leadership With the increasing business challenges, like cutthroat competition and economic changes, business leaders are considered as essential for development and success. In addition, the style and efficacy of leadership in a business makes it distinct from others. In a number of articles and literatures, leadership has been recognised as an important element in implementing strategies for business direction (Porter, 1996; Collins and Porras, 1996). This direction towards progress can be achieved by the business leaders’ potential to integrate innovation, creativity and determination within the operation. Over time, the role of business leaders to business development has become more diversified. The traditional belief that business leaders should concentrate on employee motivation has long been transformed. At present, leadership as a business attribute should also serve as a competitive weapon (Pfeffer, 1995). In order to play this leadership role, leaders should have certain elements. These include a strong moral integrity, confidence in ones own beliefs and purpose, strong dedication to the business’ goals and vision, above average sense of creativity and innovation, powerful optimism and drive, dedication to the establishment of business competence, strong qualities of teamwork and persuasiveness as well as stability of emotional and intellectual aspects (Goleman, 1998; Hodgetts, 1996; Hamel and Prahalad, 1994). Aside from the importance of particular leadership skills, literature had also emphasised that businesses should apply leadership styles other than the command and control model. Specifically, businesses should employ the serve and support model into their operations as a mode of leadership. In this style of leadership, followers are provided with a substantial deal of psychological capital and latitude to progress at their own pace (Simons and Davila, 1998). This type of business leadership enables the creation of a learning organisation. In addition, it also promotes the cultural interest to bring out new ideas, application of new methods and development of modern approaches for business operation (Wishart, Elam and Robey, 1996). Other significant issues with regards to business and leadership had also been discussed in literature. One of these issues is on the role of women and minorities in business leadership. Women for example tend to encounter the business and organisational phenomenon known as the glass ceiling. This pertains to the common observation during the early 1980s where women often encounter an invisible barrier in climbing the corporate ladder, particularly in reaching the position as business leaders (Chaffins et al, 2002). The issue on sexual discrimination typically prevents women from reaching senior managerial positions. In turn, this discriminatory act creates a stereotypical image that men are more capable as business leaders than women. Specifically, this issue emphasises that men are more intellectually and emotionally skilled as business leaders. Indeed, this creates a major obstacle for women who have potentials to become efficient business leaders. Women who were able to successfully reach the management position have concluded that they need to have the skills, courage and willpower in overcoming the business environment with typical male-established norms. In addition, women should also have natural skills for policy making in order to make it through the rigors of the male-dominated work environment (Crampton and Mishra, 1999). Aside from the glass ceiling, research studies have also identified the relation of minorities with that of business and leadership. In addition, it has also been observed that the effect of race on organisations and businesses is more profound as compared to gender issues, at least in the case of white women. The researchers believed that this tendency may be brought about by the social distance between white women and men are less that the distance of white men from people of colour. The social distance between both groups is further worsened by their limited interaction in non-work aspects (Wilson, 1996; Massey and Denton, 1993). While this may imply that women may have greater chances in becoming business leaders than the members of minority groups, such problem is undeniably evident in various business settings worldwide. Thus, as a significant business attribute, leadership should not be focused on an individual’s gender or cultural origin, considering that the efficacy of ones leadership has nothing to do with both of these factors. Leaders in business should possess more significant potentials and skills that will facilitate the initial development of a business. Innovation             Innovation has been defined in various ways over the years. In the early times innovation has been recognised as the process in creating a new item and adopting it into the system (Zaltman, Duncan and Holbeck, 1973). Over time, the research on the value of innovation to business has been divided into different levels based on the organisational unit (e.g. regional, firm, project levels). Moreover, the manner how business organisations develop through innovation has also been subjected to research. One of these researches was conducted by Christensen (1997). In this study, the researcher defined the difference between sustaining from technological change. Specifically, Christensen noted the reason why successful innovators prefer sustaining technologies over disruptive technologies. The researcher stated that the main reason for this is that sustaining technologies enables the improvement of the performance of established products. Moreover, these involve performance dimensions that regular customers in primary markets have previously valued. On the other hand, disruptive technologies propose new value that few customers, usually new ones, patronise.             This perspective has been supported by the study of Meeus and Oerlemans (2000). Investigating the innovation process at the firm level, the researchers concluded that the adaptation strategy or focusing on constant innovation is a better policy as compared to gradual or selective innovation. Within the project level, early studies such as the Stanford Innovation Project, the NewProd Project and the SAPPHO studies (Maidique and Zirger, 1984; Cooper, 1980; Rothwell, 1972) had all illustrated the relation of successful projects for new products development with consumer education.             Up to the present time, researchers have continuously devoted productive efforts in studying the application of innovation to business. Businesses have supported the findings of these researches as studies emphasise the role of innovation as a primary element of survival. Indeed, literatures have concluded that innovation is more than an investment but more of a requirement. Currently, innovation is also recognised as the attribute that allows organisations to enhance the quality of their performance and outputs. Innovation also enables businesses to create alternative applications for existing product lines as well as enter new markets. According to Dougherty (1996), considering the increasing competition in the business world, in addition to growing markets and technologies, innovation is really not just a mere fad but a necessity.             The role and significance of innovation in business have been substantiated by numerous organisational surveys. In the survey conducted by Little (1997) for instance, the chief executive officers of 669 firms worldwide had considered innovation through technological means as essential in developing competitive advantages. In 1993, Hogg conducted a survey using telecommunication companies within six European countries and found out that both innovation and strategic vision were essential to the efficacy of the junior and middle managers’ performance. Moreover, other similar researches also found out that innovativeness is among the top ten characteristics of successful businesses (Ulijin et al., 2000).   Motivation During the early times, employees were typically viewed as common inputs that help the company generate standard goods and services. Eventually, this initial perception has changed due to previous researches. One of these studies was the one done by Elton Mayo, which concluded that money is not the only thing that motivates employees and that their behavior id directly related to their attitudes. These findings were discussed in detail by Dickson (1973). Aside from this research, the approach to human relations management was also pioneered by the Hawthorne Studies, where the research concluded that the motivation and needs of the employees are considered among the main priorities of business and organisational managers (Bedeian, 1993). A number of contemporary authors have already defined the principle behind motivation. Kreitner (1995) for example, have defined motivation as the psychological process, which gives behaviour direction and purpose. Another definition defines motivation as the tendency to behave in an appropriate manner to attain certain needs (Buford, Bedeian, & Lindner, 1995). Higgins (1994) also gave meaning to the concept of motivation by defining it as the internal drive to satisfy individual needs. The introduction of several researches on employee motivation has also given birth to a number of theories explaining the factors that motivate employees. These theories include the reinforcement theory, equity theory, expectancy theory, the need-hierarchy theory and the two-factor theory. According to Skinner (1953), the reinforcement theory suggests the behaviours of the employees directly impact the outcome of their work or their performance. Thus, an employee with a positive behaviour will bring about positive outcomes, whereas those with negative behaviours will lead to negative results. Thus, the positive behaviours of the employees should then be reinforced by their managers so as to generate more positive outcomes. The equity theory on the other hand, implies that workers strive for equity amongst themselves. Adam’s equity theory explains that equity is obtained when the employee outcomes is in proportion to the input (Adams, 1965). Thus, this motivation theory implies that the efforts of the employees at work as well as their good performance should be rewarded appropriately by their managers. Vroom’s expectancy theory implies a similar concept. In this theory, Vroom (1964) indicated that the employees’ effort leads to performance and that this performance should be given due rewards and recognition. The nature of these rewards however can be good or bad. The managers should consider giving more positive rewards as these will make employees more motivated. Maslow (1943) had identified five levels of employee needs, which include the physiological, social, ego, safety and self-actualising needs. Herzberg on the other hand (Herzberg, Mausner, Snyderman, 1959) had classified motivation into two factors. These two factors are motivators and hygienes. Intrinsic or motivator factors pertain to recognition, achievement and attainment of job satisfaction. Alternatively, extrinsic or hygiene factors refers to job security and payments. Based from studies and researches, the need for motivation in the initial development of businesses is reliant on the purpose of survival. In the beginning stage of a business, employees should be provided with substantial motivation as they will be important keys for the business to survive. While this is a recognised fact, managers tend to find motivating employees complicated and difficult, particularly as employee behaviors and attitudes vary constantly (Bowen & Radhakrishna, 1991). In one study for example, the conclusion suggested that as the income of the employees increases, it becomes a less motivating factor. In addition, as employees grow older, interesting jobs become a primary motivating factor (Kovach, 1987).   Financial Issues In accordance to the development and progress of the business, credit issues are always considered in the financial aspects of the company.  Credit circle are also part of this issues. In addition, credit circle enhances processes by creating better feedback loops. Continuous and real-time reviews help to identify and eliminate problems before they grow. Nowadays, core values and beliefs of different sectors in the society are being challenged and questioned.  Different institutions such as government, economic, philanthropic and even religious institutions are facing inconsiderate and often justified scrutiny for fraudulent and abusive behaviours resulting to tremendous losses, financially and psychologically, for many innocent people.  As leaders try to chart the direction for their organisations, they can not help but face these underlying concerns about their business. Hong Kong supermarkets, at the most basic level, can be defined as “businesses that either own or control by either local or foreign subsidiaries in more than one country”. Accordingly, Hong Kong supermarkets such as ParknShop and Wellcome vary from each other in terms of their size, nature of business, size of overseas operations, location, ownership and organisational structure. Basically, one theory deemed influential on business development aside from credit circles that might affect the financial capabilities of a certain organisation is the product life cycle theory (Sloman and Sutcliffe, 2003). Morgan and Katsikeas (1997, p. 69) said this theory explains how a product may start as a country’s export and work through the life cycle to ultimately become an import. In addition, this theory proposes that a business will shift production around the world in order to reduce costs and extend a given product’s life cycle (Sloman and Sutcliffe, 2003). The product life cycle can be divided into four phases: the launch phase, which will tend to see the new product, (the one that is to be exported to the rest to the world) produced in the economy where the product is developed; the growth phase, the phase where the business, in order to maintain competitiveness, will look to reduce costs and may thus consider to shift production overseas to lower-cost production centres (this is because as the market of the new product grows, other producers will seek to copy or imitate the new product, thus, prices will begin to fall); maturity, where, at the early stage of maturity, the business is still looking to sell its product in the market of the developed economies, and, maturity and decline, where, by the time the original markets are fully mature and moving into decline, the only way to extend the product’s life is to cut costs and sell the product in markets of developing countries, thus, the location of production may shift once again, this time to even lower-cost countries (accordingly, by this stage, the country in which the product was developed will almost certainly be a net importer, although it may only be importing the product from a subsidiary of the same company that produced it within that country in the first place) (Sloman and Sutcliffe, 2003, pp. 488-9).  However, one must accordingly consider that while becoming company is largely beneficial to a business, several problems such as language barriers, selling and marketing in foreign markets, attitudes of the host state and the communication and coordination of global business activities may be experienced (Sloman and Sutcliffe, 2003).                 Chapter 3 Methodology             This chapter will discuss the methods and procedures used in the study. The research design and information gathering methods will be discussed in this chapter.   The Research Design             This study employs the descriptive research method, which uses observation and surveys. In this method, it is possible for the study to be convenient and quick.  This dissertation aims to determine the effects of credit circles to two top supermarkets in Hong Kong i.e. ParknShop and Wellcome. Descriptive research could also suggest unanticipated hypotheses. Nonetheless, it would be difficult to rule out alternative explanations and especially infer causations. Thus, in this dissertation it is practical and reliable to use this kind of research approach.  This descriptive type of research also utilises observations in the study.  To illustrate the descriptive type of research, Creswell (1994) guides the researcher when he states: Descriptive method of research is to gather information about the present existing condition.  The purpose of employing this method is to describe the nature of a situation, as it exists at the time of the study and to explore the cause/s of particular phenomena. The researcher opted to use this kind of research considering the desire of the researcher to obtain first hand data from the respondents so as to formulate rational and sound conclusions and recommendations for the study.       Description of the Data to be used in the Study             The research described in this document is based on both qualitative and quantitative research methods. This permits a flexible and iterative approach. During the data gathering, the choice and design of methods was constantly modified, based on an ongoing analysis. This allows investigation of important new issues and questions as they arise, and allows the investigators to drop unproductive areas of research from the original research plan.             Basically, quantitative method is compatible with this study because it allows the research problem to be conducted in very specific and set terms (Frankfort-Nachmias & Nachmias, 1992). Besides, quantitative research plainly and distinctively specifies both the independent and the dependent variables under investigation (Matveev, 2002). It also follows resolutely the original set of research goals, arriving at more objective conclusions, testing hypotheses, determining the issues of causality and eliminates or minimises subjectivity of judgment. Furthermore, this method allows for longitudinal measures of subsequent performance of research subjects (Matveev, 2002). Finally, it provides the attainment of high levels of reliability of gathered data due to controlled observations, mass surveys, or other form of research manipulations (Balsley, 1970). This study will be based on surveys and employ statistical treatment, so basically the quantitative approach fits well with it.             On the other hand, qualitative research is multi-method in focus, involving an interpretative, naturalistic approach to its subject matter. This means that qualitative researchers study things in their natural settings, attempting to make sense of, or interpret phenomena in terms of the meanings people bring to them. Accordingly, qualitative researchers deploy a wide range of interconnected methods, hoping always to get a better fix on the subject matter at hand. The reasoning process used in qualitative research involves perceptually putting pieces together to make wholes. From this process, meaning is produced. However, because perception varies with the individual, many different meanings are possible.             With this particular study, the researcher utilised both documentary secondary data (in the form of articles from books, journals, magazines, and newspapers that are generally about credit circles), and survey-based secondary data (this time, data on credit circles in Hong Kong only.             Moreover, primary research and secondary research was used in this study.  Primary research was conducted using anonymous questionnaires that were sent to selected companies i.e. ParknShop and Wellcome. Moreover, focus group discussions with managers were used to supplement the results of the questionnaires. The questionnaires were used to collect quantitative data and the interviews were used to provide qualitative insights into the data collected.             The survey was conducted in a random manner as it has been noted that this study did not consider time constraints. What is of the utmost concern of this research is to identify the reasons why the following selected companies—ParknShop and Wellcome—chose to have credit circles in their financial development.  Specifically, this study intends to explore the significant impact of this phenomenon of credit circles in the development of business in Hong Kong.     Locating the Needed Secondary Data              Accordingly, finding relevant secondary data involves two interlinked stages. The first stage is identifying the availability of the data that a researcher is looking for as secondary data, while the second stage is finding the precise data that is needed for the study. (Saunders et al, 2003)             For this study, the researcher was able to establish that the pertinent data needed for the fulfilment of this research’s objectives were available through the literature review previously conducted. Because of the review, the researcher was able to gather the full citation references to the sources of the needed data. Tertiary literature (like indexes and data archive catalogues) also helped especially those on-line indexes and catalogues of Universities, organisations and Governments.              After determining the availability of the data, the next step for the researcher was to locate them. As a result, the researcher had gone to several libraries within the researcher’s vicinity in order to locate the books, journals and magazines that were needed.  More importantly, the researcher utilised the Internet research to gather more information pertaining to the participation of ParknShop and Wellcome to credit circles. Through the Internet, the researcher was able to gather the websites of these organisations that had the pertinent secondary data needed. The keywords used for the search included: credit circlers, credit, Hong Kong Supermarkets, ParknShop and Wellcome.         Instrumentation             To assess the problem at hand, the researcher prepared a questionnaire (see Appendix) and a set of guide questions for the interview that is asked of intended respondents. It was indicated that this would take no more than 20-30 minutes of respondents’ time. Furthermore, answers will be completely anonymous and confidential and if there were any particular questions that the respondents did not want to answer, it was standard that they should only inform the researcher. The respondents graded each statement in the survey-questionnaire using a Likert scale with a five-point scale wherein respondents are given five response choices. The equivalent weights for the answers were:   Range                                                 Interpretation             4.50 – 5.00                                          Strongly Agree             3.50 – 4.49                                          Agree             2.50 – 3.49                                          Uncertain             1.50 – 2.49                                          Disagree                        0.00 – 1.49                                          Strongly Disagree   Validation of the Instrument             For validation purposes, the researcher initially submitted a sample of the set of survey questionnaires and after approval from thesis administrator; the survey was conducted with five respondents.  After the questions were answered, the researcher asked the respondents for any suggestions or any necessary corrections to ensure further improvement and validity of the instrument.  The researcher again examined the content of the interview questions to find out the reliability of the instrument.  The researchers excluded irrelevant questions and simplified words that would be deemed difficult for the respondents.    Statistical Treatment of Data Once all the needed and pertinent data were gathered, statistics were utilised to examine relationships, differences and trends.  After the entire survey questionnaire has been collected, the researcher used statistics to analyse all the data. The statistical formulae to be used in the survey questionnaire will be the following:   1.        Percentage – to determine the magnitude of the responses to the questionnaire.             n % = ——– x 100         ;           n – number of responses             N                                 N – total number of respondents     2.        Weighted Mean             f1x1 + f2x2  + f3x3 + f4x4  + f5x5 x= ———————————————  ;                         xt   where:                         f – weight given to each response                         x – number of responses             xt – total number of responses   The researcher will be using SPSS to supply the statistical analysis for this study. Basically, the researcher will be utilising the ANOVA analysis. Chapter 4 Analysis, Presentation and Interpretation of Data             This chapter presents the data gathered from the questionnaire and interviews conducted by the researcher with different companies/supermarkets connected to the credit circles in Hong Kong. The general population for this study was composed of 30 individuals (15 from ParknShop and another 15 for Wellcome) i.e. directly related to credit circle. These managers were also interviewed. Basically, the findings of the study are presented in different sections.  Part One presents the profile of the respondents of this study.  The objective is to determine the effect of credit circles to the business process of two top supermarkets in Hong Kong i.e. ParknShop and Wellcome. The conduct of this study entails a detailed account of the demographic profile of the respondents.  It is assumed that the attributes of the respondents will influence their behaviour and answers on the survey questions.  Of particular significance to the achievement of the goals and objectives of the study – which is to be an instrument of analysis for the institution to gauge where it is now and where it is heading, thus what changes are to be made – is to be able to answer the following questions:  <li class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph; line-height: 200%"> To investigate the business operations of PARKnSHOP and WELLCOME; </li> <li class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph; line-height: 200%"> To determine how credit circle helps the business process of PARKnSHOP and WELLCOME; </li> <li class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph; line-height: 200%"> To evaluate the effects of credit circles on selected branches of PARKnSHOP and WELLCOME; </li> <li class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph; line-height: 200%"> To determine how credit circles can bring about mobility in the services of PARKnSHOP and WELLCOME; and </li> <li class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph; line-height: 200%"> To propose a business strategy to PARKnSHOP and WELLCOME.</li>   PART 1.  What is the demographic profile of the respondents in terms of: Ø  age, Ø  gender Ø  educational attainment Ø  position in the company Ø  length of service in the company                 The profile of the respondents was looked upon in terms of age, gender, civil status, educational attainment, position, and length of service in the company.   Figure 1 Age of the Respondents               Figure 1 shows the age range of the respondents. Almost forty one (41.4%) percent of the respondents were 26-35 years old, showing that most of them were already considered as young adults. 27.6% of the respondents were between 36-45 years old. 18.5% of the respondents were between 18-25 years old.  On the other hand, 12.5% of the respondents were in the 45 and above status. Basically, the apparent diversity of the maturity of the respondents reflects several implications in the study’s findings. To illustrate, almost 90% percent of the respondents stated that they were currently occupying a managerial position in the company. In relation to the age bracket of the respondents, the researcher could presume that in the said percentage, a considerable number could be among the young adult members of the population.   Figure 2 Gender of the Respondents   Figure 2. The number of male respondents (64%) is close to the female (36%) with a total of 11 females and 19 males. Based on these figures, the dominant gender among the respondents was male. Based on the collated questionnaires, over a half of the population was composed of male respondents while 36% were female. This shows a virtually equal footing in terms of representation of gender regarding the perception of women to the effect of credits circle to supermarkets.  Male respondents outnumber female respondents by approximately 28%; this data provided a glimpse of the aggregate size of women in the workforce particularly in the business environment.     Figure 3 Educational Attainment of the Respondents                 Figure 3. Likewise, the respondents were asked about their level of educational attainment and the report shows 49.3 % of them are in post secondary. The survey indicates that most of the respondents are in post secondary that are engaged with the study. The diversity of the population was further underlined when the respondents were asked regarding their professional history. This data illustrated the maturity of the respondents particularly in terms of experience. On the other hand, the apparent youthfulness of the respondents, provided by their age and their lack of professional experience could not be considered as a deterrence to their responses considering that the researcher had made sure that the respondents had been connected with the company for at least twelve months. Moreover, there was a noticeable distinction in the relative positions of the younger generations in their respective perceptions towards effect of credit circles to ParknShop and Wellcome.   Figure 4 Occupation   Figure 4. The above figure shows the occupation of the respondents. From the 30 subjects, the researcher gathered 3 different positions of respondents that are illustrated on the above table. The most dominant position according to the survey was the executive position i.e. 48% of the total respondents, followed by middle management that was only 27.6% of the surveyed individuals. Apparently, 24.40% of the respondents were in a top management position. The analysis shows the distribution spread of positions in the business environment.      Figure 5 Number of Years in the Company   Figure 5. The figure illustrated the number of years of respondents employed in the company. Most of the respondents were employed in the company for zero to two years i.e. 49% of the total number of respondents. On the other hand, there was  also a great influence of respondents who had been serving the company for five years or more. As the illustration shows, the 33% of the respondents who were in the company for five years or more is evidence that the management of the company was responsible for the employees’ needs. Meaning to say, both ParknShop and Wellcome utilises effectively their credit circles. Aside from these credit issues, there is a cooperation and proper coordination among these groups of people in order to meet the business objectives.         PART 2. Perception of Respondents regarding Credit Circle effect to Hong Supermarkets such as ParknShop and Wellcome             In connection to this, Table 1 indicates the perception of respondents regarding the Credit Circle effect to Hong Supermarkets such as ParknShop and Wellcome. Table 1     Computation of Liquidity Ratios of ParknShop                                                                                                                                                                                                                                                 It is evident in the computations that Wellcome was always in better position to meet its short-term debt as compared to ParknShop. This means that Wellcome is always bale to meet their current liabilities using their current assets (cash, inventory, receivables). This also reflects that company manages well the apparent credit issues. The credit circles are vitally evaluated by Wellcome. On the other hand, the values are not high so as to make the shareholders fear that the assets of the company are not working to grow the business, and not low so as to drive creditors away with respect to the level of risk present. Since quick ratios are perceived as a sign of the company’s financial strength or weakness, the figures in the previous table shows the relative stability of the financial strength of Wellcome. A higher number would indicate stronger financial performance, and a lower one means weaker performance.             Apparently, the high financial leverage ratios of a company provide an implication that the organisation is solvent in the long-term.  With this regard, the debt ratio shows the Wellcome and ParknShop’s position to meet it long-term obligation or liabilities. Debt ratios are dependent of the company’s classification of long-term leases and other items as long-term debt (Pike, R & Neale, B 1999). Pike, R & Neale, B 1999, stated that this is the gauge with which the financial strength of a company is a sign of the ratio of capital that has been funded by liability, counting preference shares.       The formula for the debt ratios are: Total Debt TOTAL DEBT RATIO =                                                         x 100 Total Equity   Total Debt DEBT RATIO =                                                   x 100 Total Assets A higher debt ratio (which means the company has low equity ratio) does not give the firm’s creditors the security they require from an organisation (Pike, R & Neale, B 1999). The firm would, as a result, find difficulty in raising supplementary financial support coming from outside sources if the firm wishes to take such action. Therefore it reveals that the higher the debt ratio, the harder it is for the company to raise funds from the outside. The computation shows the performance of ParknShop and Wellcome in terms of debt ratio.  Actually, ParknShop uses little in its capital structure as supported by a debt to capital ratio of 0.03%.  Similar to these results, Wellcome also uses little or no debt in its capital structure as supported by a debt to capital ratio of 0.00%. Computation of Debt Ratios of Wellcome:       Computation of Debt Ratios of ParknShop:   The results of the analysis carried out on financial and marketing indicated very significant effects on business sustainability, even amidst the threats of unrest. Therefore, we could conclude that the business strategies such financial and marketing could still be expected to improve business sustainability faster than average.   Part 4. Analysis of Variance (ANOVA)             To be able to determine if there is a significant difference between the assessments of groups of respondents pertaining to the effectiveness of credit circles the ANOVA was used (Guilford, J.P. and B. Fruchter, 1973).  For the ANOVA calculations, the general form is summarised in the table below:   Table 2 The Generalised ANOVA Table ANOVA Table Source of Variation Sum of Squares Degrees of Freedom Mean Square F Treatments SSTR t-1 MSTR   Error SSE N-t MSE Total SST N-1                   Using the ANOVA formula above and gathered data from survey questionnaire, the analysis of the differences of the responses of the respondents with respect to the name of their companies are presented below.   Table 3               The results of the analysis are presented in an ANOVA table. In ANOVA, the total variation is partitioned into two components. Between Groups represents variation of the group means around the overall mean. Within Groups represents variation of the individual scores around their respective group means.             Basically, Sig indicates the significance level of the F-test. Small significance values (<.05) indicate group differences. In our data, the significance level is less than 0.05 i.e. 0.003. Meaning to say, the responses of the respondents with respect to their companies (i.e. Wellcome and ParknShop) is different to each other as the issue of credit circle is being discussed. This result also justifies that credit circles effect varied from type of companies. In addition to the results, one of the groups differs from the others or we may state that the perceptions of the respondents regarding the statements in the survey are different to each other with respect to the name of their companies.   Synthesis             In accordance to the development of credit circles in Hong Kong supermarkets, Hong Kong is actually plagued by continuing inflationary pressures, massive hidden unemployment, overpopulation, and an industrial base that, for the most part, remains antiquated. Exacerbating these problems are massive infrastructural needs, inadequate communication facilities, and segments of the bureaucracy resistant to change. However, leaders who resist change are finding it more and more difficult to maintain their positions, since the majority of citizens are pushing Hong Kong to become a newly industrialised economy with the opportunity to increase the welfare of the masses. Hong Kong, like most countries, has a variety of financial institutions that play a significant role in business activities and operations. While understanding the organisational structure and each organisation’s function may be difficult, this understanding is essential for investors who desire to operate businesses successfully in Hong Kong. While this dissertation may serve as a basis for a general understanding of Hong Kong’s governmental organisations that are involved in credit circles, a more thorough understanding can only be achieved through the experience gained by operations in that marketplace. Furthermore, the role of financial institutions in Hong Kong is changing as the leadership gains experience in moving toward a more market oriented economy. However, by understanding how these organisations work, investors can avoid unnecessary delays and costs in their operations from the initial stages of project approval through to the later stages of operation and expansion.                               Chapter 5 Summary, Conclusions and Recommendations     The focus of this study is to determine the perceptions of different managers of ParknShop and Wellcome to credit circles. The secondary data will come from an extensive review of the literature on articles, journal articles, books, and magazines relating to Credit Circles. The study used random sampling as a method of choosing its population. Random sampling can be very useful for situations where you need to reach a targeted sample quickly and where sampling for proportionality is not the primary concern. Most sampling methods are random because they approach the sampling problem with a specific purpose in mind. Actually, the sample size would ensure the validity of the response that the researcher will be able to gather.  To determine the assessment of the respondents, the researcher prepared a questionnaire and a set of guide questions for the interview that he asked of the intended respondents. The respondents graded each statement in the survey-questionnaire using a Likert scale with a five-point scale wherein respondents were given five response choices. Concurrently, the study employed both qualitative and quantitative research methods to ensure a flexible and iterative approach. During data gathering, the choice and design of methods are constantly being modified, based on an ongoing analysis. This allows investigation of important new issues and questions as they arise, and allows the investigators to drop unproductive areas of research from the original research plan. The researcher also uses percentage analysis, the mean and median analysis and analysis of variance to evaluate the collated data.   SUMMARY 1.  Profile of the Respondents The respondents were drawn from ParknShop and Wellcome. Basically, the respondents were asked first regarding age.  Almost forty-one (41.4%) percent of the respondents were 26-35 years old, showing that most of them were already considered as young adults. Actually, the apparent diversity of the maturity of the respondents reflects several implications for the study’s findings. On the other hand, the study reveals that the number of the male respondents (64%) was close to the female (36%) with the total of 55 for females and 97 for males. Apparently, the respondents were asked for their educational attainment and the report shows 49.3 % of them were in post secondary. The survey indicates that most of the respondents were in post secondary that is engaged with the study. The diversity of the population was further underlined when the respondents were asked regarding their professional history.  In regards to the distribution of samples with respect to the name of their companies, the study considers the distribution to be fair to avoid bias in information.   2.          Perception of Respondents regarding the Credit Circles             The perception regarding the concept of the credit circle effect to Hong Kong provides a significant effect to the study considering that the subjects are from top supermarkets in Hong Kong i.e. ParknShop and Wellcome. The results of the conducted survey show that most of the respondents agreed on the given survey statements. All the statements from the survey were clear to the respondents. Actually, the respondents from the Supermarkets believed that Credit Circles was one of the most stable and economically important international capital flows at present, and its importance to capital accumulation was large and growing.  Apparently, the respondents from different supermarkets believed that Credit Circles was an important vehicle for the transfer of knowledge, in particular, of technology, which was illustrated by the 3.97 weighted mean. In addition to this, improving trust to a Credit Circles is vital to the development of the company since it business improvements. Moreover, the respondents agreed that Credit Circles introduces new management practices and organisational arrangements. Actually, the current economic and political status of Hong Kong has a significant effect on the development of supermarkets in relation to Credit Circles.             On the other hand, the Credit Circles processes of supermarkets in Hong Kong have significant effect on their development since it is an advantage. Basically, the management of most supermarkets is addressing the need to cope with socioeconomic changes present in Hong Kong’s environment.   CONCLUSION Based on the findings of this study, the researcher concludes the following: 1.            The respondents who took part in this study are already mature in age, responsible and reliable. They are also aware of what’s happening in their organisation and are deeply concerned about the value of Credit Circles in Hong Kong Supermarkets and its impact on business developemnt.  Actually, the role of financial institutions in Hong Kong is changing as the leadership gains experience in moving toward a more market oriented economy.   2.            The respondents have given an overall rating of ‘Agree’ or ‘Strongly Agree’ to each of the criteria.  This shows that they are satisfied with the current state of things in their present organisation and understand the Credit Circles effect on a financial development of ParknShop and Wellcome.    3.            The statistics show that there is a significant difference between ParknShop and Wellcome managers with respect to their responses. Accordingly, the computed ANOVA value i.e. 0.003 indicates that the responses of the respondents with respect to their companies are different.    4.            Financial Report Synthesis. The review of financial capabilities and resources towards business sustainability revealed very little inconsistencies regarding its strategies. This is coherent with its traditional inside-out approach. However, the need to reconcile both the inside-out and outside-in approaches becomes imperative now for marketing. From the previous discussion in Chapter, a number of conclusions can be drawn: Ø    In an age where the financial system has become simultaneously more complex and more accessible to the unsophisticated investor, it is essential that the challenge of effective corporate governance is addressed. Ø    Credit Circles, harmful incentive structures, conflicts of interests, and the absence of transparency seem to be key issues in addressing shortcomings in current corporate governance arrangements. In addition, the interests of minority shareholders have to be protected as larger investors may abuse their power. These problems can effectively be addressed by the use of forensic audits after major bankruptcies or suspected accounting frauds, by encouraging whistleblowers, by fostering of a process of diluting ancillary links between audit firms and their audit clients as well as between investment analysts and their clients. Greater transparency in the process of credit rating by the relevant agencies is also required. Other suggestions for reform include measures to tackle concentration in the provision of audit services, perhaps by lowering entry barriers.   Moreover, it can be said that Wellcome compared to ParknShop is a company whose financial situation is stable and highly likely to improve in the years to follow. To sustain their development, the company should regularly assess the value of their portfolio of its business. They have to be positioned on fast-growing opportunities, whether geographically or by market segment through choosing to invest in businesses with long-term tail-wind profiles. If the current financial situation carries on consistently, Wellcome would well achieve their vision of becoming the leader in their industry and a major player in each of their market segments and key geographical markets. The comparison of the past and present performance helped in bringing out pertinent bits of information which led to the conclusion that the HK offices adds value and contributes significantly to the progress of the firm as a whole.   RECOMMENDATIONS Based on the foregoing summary of findings and conclusion, the researcher recommends the following: 1.       Update the facilities, equipment, and training strategies of the ParknShop and Wellcome. Basically, ParknShop and Wellcome might provide necessary trainings among their employees regarding company development. In addition, the advancement in technology is a competitive advantage in current economy, thus the updates of facilities and equipments within the company might comply to the needs of company’s progress even if it is in a low cost country.  Moreover, ParknShop and Wellcome should have a study regarding the credit circles.   2.       Maintain open communication lines between the government of Hong Kong and ParknShop and Wellcome’s managers.   3.       Review the strategies of the company and update the content to increase the standard of the organisation as well as the government of Hong Kong.          References: Atrill, P & McLaney, E 2004, Financial Accounting for Decision Makers, 4th edn., Prentice-Hall, New Jersey.   Balsley, H.L. (1970), Quantitative Research Methods for Business and Economics. New York: Random House.   Barton, D., Newell, R. & Wilson. G. (2002), When Is a Good Time to Make Strategic Advances? during a Crisis, of Course. The McKinley Quarterly, pp. 77+   Bedeian, A. G. (1993), Management, 3rd ed, Dryden Press, New York.   Bowen, B. E., & Radhakrishna, R. B. (1991), Job satisfaction of agricultural education faculty: A constant phenomena, Journal of Agricultural Education, vol. 32, no. 2, pp. 16-22.   Buford, J. A., Jr., Bedeian, A. G., & Lindner, J. R. (1995). Management in Extension, 3rd ed, Ohio State University Extension, Columbus, Ohio.   Chaffins, S. et al. (1995), “The glass ceiling: Are women where they should be?”, Education, vol. 115, pp. 380-386.   Christensen, C. M. (1997), The Innovator’s Dilemma. Harvard Business School Press, Boston, MA.   Collins, J.C. and Porras, J. (1996), “Building Your Company’s Vision”, Harvard Business Review, vol. 74, no. 5 (Sept.-Oct.), pp. 65-76.   Cooper, R. G. (1980), “Project NewProd: Factors in New Product Success”, European Journal of Marketing, vol.  14, no. 5-6, pp. 277-291.   Crampton, S. M. and Mishra. J. (1999), “Women in management”, Public Personal Management, vol. 28, no. 1, pp. 87-107. QUESTIONNAIRE The researcher is conducting a study on the impact of Credit Circles to ParknShop and Wellcome. To enable the researcher to make the necessary conclusions and recommendations for this study, it would be very much appreciated if you answer all the items in the questionnaire.               Information given will be treated in strictest confidence.                                                                                                       Thank you.                                                                                                       Part 1.  Personal Data   Direction: Please fill up in all the necessary information about yourself.  Don’t leave any item unanswered.   a.       Age  ________   b.      Gender Male ( )                  Female ( )   c.       Civil Status Single ( )                Married ( )       Separated (  )   Widow/Widower  ( ) d.      Educational Attainment Elementary  ( )      High School  ( )           College ( )       Graduate  ( )   e.       Name of Company:   f.       Position in the Company:_________________   g.      Number of Years in the company:__________                                 Part 2.  Determining the Perception of Respondents regarding Credit Circle effect to Hong Supermarkets such as ParknShop and Wellcome Directions:  Encircle the number that best corresponds to your answer.                           5          -           Strongly Agree                         4          -           Agree                         3          –           Uncertain                         2          -           Disagree                         1          -           Strongly Disagree   </div>           Directions:  List down your concerns and suggestions regarding impact of Credit Circles to ParknShop and Wellcome.   <li class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph"> What are the most common problems you’ve encountered with regard to the business development of ParknShop and Wellcome? </li>   a.____________________________________________________________ b.____________________________________________________________ c.____________________________________________________________   <li class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph"> What solutions would you suggest to solve these problems you’ve mentioned? </li>   a.____________________________________________________________ b.____________________________________________________________ c.____________________________________________________________           </div> Credit:ivythesis.typepad.com

A Degree Thesis on An advantage that the Credit Circles processes of supermarket in Hong Kong has significant effect on their development

present to Department of Accountancy, An advantage that the Credit Circles processes of supermarket in Hong Ko...