The New Deal Essay Example | Topics and Well Written Essays - 2250 words

The New Deal - Essay Example The governments before Roosevelt believed that the people should stick with and support the state through tough and bad times. In that context Franklin D Roosevelt set a new precedent by holding that it is the state that should come to the rescue of the masses in times marred by economic downturn and the subsequent issues and difficulties, supported by his â€Å"conception of government power as a force to be utilized aggressively.†1 It goes without saying that Franklin D Roosevelt was not alone in determining the broader framework of the New Deal, but rather he was advised and supported by an array of academic scholars and liberal experts, who were referred to as the ‘brain trust’. The purpose of coming out with the New Deal was to chart out the best course of action for the nation struggling with widespread economic downturn. Hence, the first hundred days of Franklin D Roosevelt’s ascendency saw the initiation of an array of bills aimed at resuscitating t he economy by reducing poverty, curtailing the rate of unemployment and to assure a speedy recovery of the economy that was down and sick. In that context it is totally true to claim that the New Deal did a lot in putting the American economy back on the track by correcting the systemic problems marring the economy and by curing the attendant flaws and anomalies. Before delving on the beneficial impacts of the New Deal on the American economy, it is utterly relevant to consider the ailments that were imminent on the American economy before the New Deal came into existence. Before the New Deal was initiated, people all across America were under the sway of a depression ridden economy and were facing a range of issues and problems. By 1929, the American economy was suffering from a state of Depression that was marked by a dearth of money in the economy and a very high rate of unemployment. The fall of the stock markets helped this state of economic downturn graduate to what is popular ly known as the Great Depression. The citizens who had invested in the stock markets not only lost their investments, but also ended up being in a state of dearth and unemployment. With the loss of their investments, people found it totally impossible to pay their personal bills and bank loans. Moreover, the Great Depression also badly influenced the nation’s banks and financial institutions. With the banks closing their doors, people lost most of their savings. With the inability of the masses to invest in the economy and not being in a position to purchase goods and services, the businesses also got sick and consequently many businesses had to shut down owing to a dearth of revenue and capital. Thereby, President Franklin D Roosevelt was quiet aware of the fact that he was being elected in an economic scenario that was bleak and depressing and that the people expected him to come out with measures that could resuscitate the economy and bring the things back on the track. He nce, the New Deal contrived by the Roosevelt government was a direct response to the expectations and aspirations of the masses and it did a lot to rescue the depression ridden national economy because, â€Å"during the campaign he had preached that the Federal government would have to assume an unprecedented role in delivering relief to the destitute and stern discipline to the business community†¦. â€Å" 2 It is a fact that during the Great Depression, the citizens had not only lost the

Implementations of Customer Relations Management System by Royal Mint Essay

Implementations of Customer Relations Management System by Royal Mint - Essay Example The Royal Mint Company requires a CRM system to facilitate the management of marketing information. The company will effectively acquire customer information and process it within the CRM system’s database to make marketing decisions and plans in addition to the evaluation of the impact of the company’s marketing endeavours. In implementing a Customer Relations Management system, Royal Mint stands to gain several benefits including better quality services and increased efficiency. CRM also helps to ensure reduced operational costs, increased profitability, and decision making support. The system leads to customer intimacy and thereby ensures the retention of existing customers. However, in the use of data stored in CRM, Royal Mint has to ensure the security of such data. This is because the use of such data could lead to ethical and legal issues. Access of such data has to be restricted as well as the transfer controlled. Introduction Romano and Fjermestad (2003, p. 233 ) define Customer Relationship Management (CRM) as the process of managing the interactive relationship of a business organization or a company with its customers. CRM is usually automated and applies technology to foster communication between a company and its clients. CRM therefore uses information systems which include computer application software which facilitate communication and interaction between a company and customers who are the major stakeholders of business functions and thus determine the success of the business. The composition of a CRM system is basically made of the hardware and software elements, the people who are involves, processes, procedures and policies which govern the application of the system to realize the goals of the business (Schierholz, Kolbe and Brenner 2007, p. 830). The benefits of CRM include increased profitability, better customer relations and higher quality products. The paper discusses the elements of a CRM system, its benefits and the ethic al issues involved in the use of the CRM system with a special relation on the Royal Mint Marketing strategy. Elements of CRM System According to Mandic (2011, p. 347), information technology is the major element of a CRM system because it is through these computer systems that companies are enabled to effectively communicate with their customer. The Royal Mint which is England’s legal entity which is authorized to mint or manufacture coins and medals has invested in information technology as the most appropriate way of facilitating interaction with its customers as described by Boulton (2011, p. 48). The marketing strategies of the company apply information systems to manage its customer base and enhance communication between the company and these clients. However the company has not utilized CRM system in making marketing decisions. Information technology in making marketing decisions is used to facilitate the management of customer information for marketing reasons. In a C RM system analytical tools and computer systems are used to gather client information and use it to make marketing decisions. Therefore the Royal Mint should apply information technology to maintain a database of its customers and also facilitate the interaction with its market. The use of CRM in marketing includes displaying the company’s products on the internet which can be accessed by the clients through creation of user accounts through the company’