Benefits of Consumption Versus Benefits to Society

Bankinter analysis - 1629 Words

BANKINTER INTRODUCTION TARGET Intro: The case begins with Ana Peralta,(Director of the Internet Network at Bankinter) analyzing the success of Bankinter’s foray into e-banking through a progressive portalization strategy executed through E-collaborator. This approach was a great success for the Bank nearly doubling the number of new clients with lower costs involved. Riding on this positivity, their stock doubled within a month! There was no doubt that the success of the internet business was vital to the stocks as well as the growth and strategies of the financial services provider. The small national independent banking organization was soon able to position itself as a futuristic innovative multichannel low cost provider†¦show more content†¦Furthermore, it’s competitors began to infiltrate these sites vigorously, by buying over portals for lump sum amounts of money. While Bankinter did attain numerous customers through the Alliance approach, the costs of customer acquisition were too high to be justified. Hence, they terminated this process and shifted towards a program they called â€Å"e-collaborators†. This time, Bankinter placed banners on websites that linked users to ebankinter.com directly. They displayed banners on any highly trafficked website that would agree to display it, regardless of that websites content. While this too was a success, it had a few drawbacks. People started opening accounts, but did not complete the entire process. They found a lack of customer interest level. The process of acquisition wasn’t up to mark and customers did not find any incentives to complete the process. Also, the program did not target the segments of market that would be most valuable to the company. Bankinter’s internet acquisition strategy, as it can be seen through reading the case study, has evolved over a period of time. The strategies that they implemented, of course, had their issues, but they both also had their strengths. While this idea did not play out as well as Bankinter had hoped in practice, in theory, it was a strong idea. To have a web page within another well-known, prestigious webShow MoreRelatedThe Financial Service Industry Comprises Of Securities1421 Words   |  6 Pagesoccupational outlook in this field, and there is a shortage of the right talent to fill these talents. One of the hot job categories is in the field of financial planning and analysis. Financial Planning and Analysis is less focused on the routine transaction processing and more focused on forward-looking strategy and analysis for the business. The roles of financial planners have dramatically changed. Factors such as a breakthrough in technology and changes in retiremen t planning have caused changesRead MoreNissan Strategic Management Report3777 Words   |  16 Pagesshown in the figure below. 2.1 GENERAL ENVIROMENT 2.1.1 SWOT ANALYSIS According to Grant, M.(2002), the allocation of the external and the internal factors of a company is commonly used for analyzing business strategies. The SWOT analysis (strengths-weaknesses-opportunities-threats) intends to point out the most important external and internal factors that are essential for the organization to accomplish their objectives. This analysis groups important information into to major categories, the external

Mass Incarceration in the United Kingdom Free Essays

our site – SOCIAL SCIENCE DISSERTATION – CUSTOM ESSAY WRITING Introduction The United Kingdom has recently witnessed an increase in the number of prisoners incarcerated. The first surge occurred during Prime Minister Thatcher’s reign. Running a prison became a business, when the first privately run institution opened in the United Kingdom, in 1992 (Panchamia 2012). We will write a custom essay sample on Mass Incarceration in the United Kingdom or any similar topic only for you Order Now The increased need for spaces due to higher rate of imprisonment led to the emergence of the prison-industrial complex, whereby people were incarcerated without a mechanism for reintegrating them back to the society. Prisons became contracted out, and the influence of the government was reduced. As Panchamia (2012) concludes, ten percent of the prisons in the United Kingdom and Wales are currently contracted out. Davis (1998: 3) states: â€Å"while government-run prisons are often in gross violation of international human rights standards, private prisons are even less accountable†. The emergence of these prison-industrial complexes is attributed to the criminological theory, hinged on the conflict theory, arguing that t there is a struggle between different groups (Akers 1979: 527).Crime is perceived as a function of the conflict within any society based on Marxist theory, calmingthat social and economic situations facilitate criminal activities. This paper argues that the emergence of the prison-industrial complex in England and Wales was attributed to mass incarceration, the lack of effective social policy, and early interventions. Mass Incarceration Mass incarceration is characterized by the removal of people from communities and taking them to prisons. (Newburn 2002: 165). Sparks and McNeill (2009) define mass incarceration as restricting the freedom of a group of people, subjecting them to surveillance and regulation, while increasing their dependency. According to a recent publication by Wacquant (2001), the plain aim of prison complexes and mass incarceration is to segregate people. The author goes further, and compares prisons with Ghettos. Focusing in the American context, the article highlights the impact of class segregation on the demographics of prison population. The above argument is powerful, as both prisons and ghettos are considered to be places extremely hard to escape from. The main aim of mass incarceration is to remove the criminal from the neighbourhood to ensure that they are detained. Often this priority means that prisoners are denied rehabilitative facilities (Harnett 2011: 7). As an implication, pris ons become areas for punitive segregation, for the criminals who must be removed from the society. Therefore, most of these prisons are detention centres where people enter a perpetual cycle of incarceration for crimes committed because of their economic need. Davis (1998) states that prisons are not providing adequate solution for crime or social issues. The author goes further, claiming that prisons reflect that racial bias and social injustice of the society. Studying American prison population, the author states that â€Å"the political economy of prisons relies on racialized assumptions of criminality – such as images of black welfare mothers reproducing criminal children – and on racist practices in arrest, conviction, and sentencing patterns† (Davis 1998: 2). The defining features of mass incarceration are that it is characterized by comparatively high number of people in prisons. In Reagan’s United States prosecution patterns and conviction rates increased the proportionate representation of African Americans and Hispanics, as well as those from lower socio-economic statuses (Wacquant 2010, p. 74). This was during the New Deal and Great Society, which contributed a lot towards the increasing trend of mass incarcerations, and the adoption of the prison-industrial complex system that emphasized governance through punitive acts (Downes 2001, p. 62). At the advent of economic reforms introduced by Britain’s Prime Minister, Margaret Thatcher, the rising rate of unemployment hit the working class the most. With the labour market in crisis,urban areas had to bear the burden of the high proportion of lower class and unemployed population. As social issues increased, the government resorted to the creation of a prison-industrial complex, to deal with the people that suffered most (Wehr 2015, p. 6). The newly created prison-industrial complex that emphasized mass incarceration was based on cultural bias and social injustice (Sparks and McNeill, 2009). These institutions symbolised thee society’s thoughts and prejudice, suggesting that the degradation of a person may be a way to solve the social conflict. As a result, the British society started to increasingly rely on criminological theories to support mass incarceration of the lower classes, whereby the prison-industrial complexes become a large enterprise for the state. Democracy, Inclusion and Social Policy It is worth noting that mass incarceration in England and Wales led to the economic and social exclusion of people within the prisons. This segregation and incarceration endangered democracy (Sparks and McNeill, 2009). In line with the conflict criminological theory, mass incarceration of offenders who mostly belong to a particular race or class enhanced the structures of oppression and privilege (Van 2007, p. 189). This occurred when mass incarceration gave undue advantage to one group as opposed to another. Today, both in the United States and the United Kingdom, it is evident that people of colour or lower classes are disproportionally overrepresented within the prison-industrial complex. While the mass prison complex created privilege to higher classes, it created a situation whereby the victims were stigmatized, criminalized, and did not enjoy the privileges of democracy and inclusion. The economic and social drivers of mass incarceration are explained by Downes (2006), who co nfirms that there is an inverse relationship between a state’s spending on welfare and imprisonment rates. Mass incarceration also hindered democracy by preventing means through which people could share ideas or communication (Young 2000, p. 208). An incarcerated person experienced political disempowerment and a lack of influence, power, while he became extremely dependent on the prison complex (Travis 2002, p. 19). Despite several attempts of inclusion, provision for rehabilitation, training, and work opportunities, current social policies have not been successful in reinstating the equal representation of lower classes, and the mass incarceration continues. (Reiman 2004, p. 5). Conclusion The above review of publications and research studies, it is evident that the conflict theory accurately explains the emergence of mass incarceration during the reign of Thatcher in the United Kingdom, and Reagan in the United States. Historically, the upper class, that was more advantaged socially, economically and politically created laws and policies that increasingly criminalized the less powerful, creating a policy of segregation. Increased incarceration within the prison-industrial complex removed people who were not wanted. Apart from enhancing exclusion and stifling democracy, it helped the powerful class to maintain its influence, wealth and position within the society. Bibliography Akers, R.L., 1979. Theory and ideology in Marxist criminology. Criminology, 16(4), pp.527- Davis, A. (1998). Masked racism: Reflections on the prison industrial complex. Color Lines, 1(2), 11-13. Downes, D., 2001. The Macho Penal Economy Mass Incarceration in the United States-A European Perspective. Punishment Society, 3(1), pp.61-80. Downes, D. (2006). Welfare and punishment – The relationship between welfare spending and imprisonment. Hartnett, S. J. 2011. Challenging the prison-industrial complex: activism, arts, and educational alternatives. Urbana, University of Illinois Press. Newburn, T. 2002. Atlantic crossings: ‘Policy transfer’ and crime control in the USA and Britain. Punishment Society, 4(2), pp. 165-194. Panchamia, N., 2012. Competition in prisons. Institute for Government, http://www. Instituteforgovernment. org. uk/sites/default/files/publications/Prisons, 2. Reiman, J. H. 2004. The rich get richer and the poor get prison: ideology, class, and criminal justice. Boston, Pearson/Allyn and Bacon. Sparks, R. and McNeill, F., 2009. Incarceration, social control and human rights. THE INTERNATIONAL COUNCIL ON HUMAN RIGHTS POLICY Project on SocialControl and Human Rights Travis, J. 2002. Invisible Punishment: An Instrument of Social Exclusion (From Invisible Punishment: The Collateral Consequences of Mass Imprisonment, P 15-36, 2002, Marc Mauer and Meda Chesney-Lind, eds.). Van der Linden, H. 2007. Democracy, racism and prisons. Charlottesville, Va, Philosophy Documentation Center. Wacquant, L., 2010. Class, race hyperincarceration in revanchist America. Daedalus, 139(3), pp.74-90. Wacquant, L., 2001. Deadly symbiosis: When ghetto and prison meet and mesh. Punishment Society, 3(1), pp.95-133. Wehr, K. 2015. Beyond the prison industrial complex: crime and incarceration in the 21st century. [Place of publication not identified], Routledge. Young, I. M. 2000. Inclusion and Democracy. Oxford, Oxford University Press. 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