...range of business information and economic development services offered by local Chambers of Commerce. The data for this White Paper comes from a scientific web-based survey of 1,265 Chambers of Commerce nationwide.1 Chambers were randomly selected from those organizations that are active members of the United States Chamber of Commerce. The study examined five (5) components: 1. 2. 3. 4. 5. Organizational Structure Services Provided Data & Information Hospitality, Conventions and Tourism Professional Association Participation Key TAKeAWAyS: • Both perceived and real value is the basis of membership development and retention. Utilizing plant/site visits, coordinating them with local elected officials is a key method of establishing an understanding of the local business mix as well as establishing a basis for membership development and retention. These visits offer opportunity to put a company’s best foot forward as well as being able to observe if there are issues that need resolution or threaten the company’s viability. • Offering business counseling can be time consuming, but it also creates a bond between the company and the...
Words: 2063 - Pages: 9
...Monterey Sports Center Loyalty Leader Project BUS 323 Presented To: Sanjay Lanka Presented By: Jesse Olson Jeff Owen Kolby Teare Troy Blank Table of Contents Introduction 3 History of Company 3 Marketing Strategy and Promotion 4 Finance and Memberships 4 Suppliers 7 Human Resources 7 Hiring Process 7 Employee Empowerment 8 Organizational Development and Training 9 Operations 10 Technology and Software 11 Customer Service 12 Conclusion 13 Appendix 14 Interview Questions 14 References 15 Introduction For a business to be considered a leader in a given industry it takes a mixture of many different service industry tools. A loyalty leader is a company that delivers a quality service while maintaining a good rapport with customers, employees and the community as a whole. This includes, but is not limited to, excellent customer service, a healthy work environment, and a strong, positive reputation within the community. It is for these reasons that we have chosen the Monterey Sports Center as a loyalty leader in the Monterey area within the fitness industry. History of Company The Monterey Sports Center is a city building that was established in 1992. As a city entity, it is overseen by the City of Monterey’s council members and is a non-profit organization. When the facility opened it was roughly 40% of the size that it is today. It has expanded through grants and funding from the City of Monterey to include...
Words: 2648 - Pages: 11
...year 2020. So therefore in 2018 it will be $160 million, and in 2019 it will be $180 million. Terrorism risk insurance program reauthorization act of 2015 extends the original law from 2002 until December 31, 2020, however, it also allows revision requirements to the program. The law revised requirements for mandatory repayment from insurers of federal financial assistance provided in connection with all acts of terrorism. It also continues on by revising the formula for determining the retention amount the insurance industry must cover before federal assistance becomes available. The current threshold is less than $27.5 billion for all insurers for the losses during the calendar year. The law requires annual increases to this by $2 billion until it becomes $37.5 billion. It also repeals the declaration that there will be no mandatory recoupment if uncompensated losses exceed the retention amount. So therefore, it is now mandatory for insurers to provide recoupment even if it exceeds retention amount presumably with the help from federal financial assistance provided under the program. The premium collected for repayment of federal financial assistance increased from 133% to 140%. The law also redefines an act of terrorism for one that is certified as such by the Secretary of the Treasury with consultation from Secretary of Homeland Security. Certifying also determines the impact of length of any timeline on the insurance industry, policyholders, consumers, and taxpayers as a...
Words: 1466 - Pages: 6
...Perform a detailed critique of the Employee Retention Committee meeting. List the occurrences or omissions that you believe indicate faulty committee practice, and state why you believe so and what should have been done differently. The Employee Retention Committee meeting was very unorganized. It was not well prepared for, and no new information was gathered at this meeting. Dave Andrews, an administrative assistant called the meeting about 10 days earlier than suppose to. The meeting was scheduled for 1:00 p.m. The meeting actually ended up at starting at 1:18 due to the unpunctuality of some members and Andrew. There were not enough chairs for every one to sit at the meeting, neither was the conference room big enough for everyone to be seated comfortably. Andrews said, “I guess we can get started now.” He shuffled through a stack of papers and said, “I’ve got a copy, if I can—oh, here it is—of a recent turnover survey done by the human resources directors in the region.”...
Words: 523 - Pages: 3
...Movement market environment in which Afya Sacco Society operates and the impact of those factors that influenced on its financial capacity in service delivery. Here are some of the selected factors that were found to impact on the financial capacity of Saccos and investigated; poor corporate governance, innovation and technology, dwindling membership, competition from mainstream banks and government policies. 2.2 Theoretical background Customer retention and customer retention marketing are key components in maintaining a profitable business. The goal of customer retention marketing is to convert first-time or occasional buyers into loyal, long term customers. And to accomplish this, a business needs to understand what it is that converts the occasional or first-time buyer into a loyal customer. Through customer retention marketing, businesses are able to uncover what it is that makes this conversion happen. Customer retention marketing is more than just an important consideration; it is often the difference between loyalty and defection. Businesses and in this case Afya must have the most up-to-date and useful information on customer retention marketing (Duggan 2006). For any organization to compete favorable it must constantly reinvent itself and also adopt new ways and technology of doing things. Innovation could be in the form of new products which are friendly to the targeted groups while technology is through the adaption of new methods and faster equipments of doing business...
Words: 3356 - Pages: 14
... * 7 and above 3. Are you visiting Starbucks more or less often than you used to? * More * Less * The same 4. Why are you visiting more or less? ________________________________________________________ 5. From the options below, rank according to which is your preferred brand. With 1 being the most preferred and 4 being the least. Starbucks, Coffee Bean and Tea Leaf, Spinelli, Costa Coffee 1________ 2________ 3________ 4________ 6. Are you aware of the Starbucks membership card? * Yes * No 7. Do you find the privileges of being a Starbucks member attractive? * Yes * No 8. Are there any recommendations to improve on the existing Starbucks Membership programs? __________________________________________________ http://www.business-intelligence.co.uk/reports/crm_strat/summary.asp ( crm strategy) http://harveywallbanger.hubpages.com/hub/Starbucks-Customer-Retention-Strategies ( retention) Answers ( 50 respondents) (1) 10 ppl- 13- 16 yrs, 25 ppl– 17-20yrs, 15ppl - 21 and above (2) 30 ppl- 1-3x, 10 - 4-6x, 10- 7 and above (3) 30 ppl say – less, 10 say more, 10- the same (4) The reasons – On the whole, around 30 ppl say that Starbucks pricing is high compared to it’s competitors. Starbucks do not have a system to allow its members to top up their cards online, and buy cakes, merchandise online which Coffee Bean and Tea Leaf has. Respondents also added that Starbucks lack the...
Words: 785 - Pages: 4
...Make Customers Come Back - Winning Customer Retention Strategies Customer Retention marketing is a tactically-driven strategy to keep relationships with customers going and increase customer interest. This strategy relies on the study of customer behavior. Here are the basic tenets of a marketer that seeks to increase customer retention: 1. Past and Current customer behavior This is the best predictor of how customers will behave in the future. They are the characteristics marketers should most often look at. Analyzing customer tendencies and trends allows the marketer to anticipate, if not predict, the customers reaction to different situations. The marketer must take note that behavior is action oriented, not a description. For example, being a 35-yearold woman is not a behavior; it’s a demographic characteristic. For example if you know from history that customer A is likely to make a purchase if presented with a discount promotion, then you might want to change your marketing tactics to include promotional selling when approaching this customer. A great deal of observation is needed if you desire to predict your customers’ behavior. This involves a great deal of notetaking as well as watching what reaction the customer has to different situations. 2. Active customers are happy customers Happy customers are retained customers. If your keep your customers involved, they develop a sense of contentment from the fact that they are in control. Marketers will take advantage of this...
Words: 1584 - Pages: 7
...Best Work Places MGT415: Group Behavior In Organizations Best Work Places With millions of existing companies, and over half a million new businesses attempting to start and develop every year (SBA, 2012), it is no small feat to be recognized in Fortune Magazine’s annual list of the 100 best workplaces for employees. Since 1998, Fortune Magazine has compiled this list of exceptional companies by taking into consideration employer and employee relations, workplace environments and employee satisfaction. This year’s top spot belonged to Google, with Wegman’s Food Market coming in at the number 5 spot, and Dreamworks Animation just missing the top ten with a spot at number 12 (Fortune, 2013). For each of these companies, it is easy to see they set an exceptional example of fostering group cohesiveness and rely heavily on employee motivation. For another year, Google Inc. has clenched the top spot on the list of best workplaces by Fortune Magazine. With over thirty five thousand employees, Google has made it a top priority to foster its work environment to offer its employees a rewarding work experience. According to George Homan’s theory of exchange in groups, a group becomes more attractive to potential members by offering maximum rewards but at a minimal cost to the new member (Losh, 2012). Google knows “that every employee has something important to say, and that every employee is integral to our success. We provide individually-tailored compensation packages that...
Words: 1279 - Pages: 6
...JOY CREDIT UNION (JCU) MEMBERSHIP Membership shall be open to all members of International Central Gospel Church – Joy Temple. To be recognized as a member of the Credit Union, prospective members are required to pick up membership forms at a cost of GH¢5.00 each. Completed application forms together with a copy of a current ID, 2 copies of Passport Size Pictures, and an application processing fee of GH¢10.00 will be required to complete membership formalities. Being a member does not automatically qualify a member for loan facilities. MINIMUM CONTRIBUTION The minimum contribution per member shall not be less than GH¢2.00 per week. LOANS FACILITIES To qualify for a loan, a bona fide member should have contributed regularly for a period of not less than 6 months. Each member will qualify for a loan of up to a maximum of 80% of their entire savings. Once a loan facility is advanced to a member, that member is required to not only make good their regular weekly contribution, but also to honour their monthly loan obligations. A default in any of these obligations will be considered a default in loan repayment and loan facilities may be called in. INTEREST ON LOAN Loan facilities advanced to members will attract an interest rate of 1% per month on a monthly reducing balance basis. Each loan facility will attract an arrangement and management fee of 1% flat on the face value of the amount advanced. LOAN APPLICATION NOTICE Any member requesting a loan facility must fill a...
Words: 623 - Pages: 3
...Running head: BUILDING CHURCH MEMBERSHIPS: FINAL PROJECT Building Church Memberships: Final Project Allita Walker Kaplan University September 1, 2012 Letter of Transmittal Allita Walker 51 Pat Mell Road SW Marietta, Georgia 30060 September 1, 2012 Pastor L. Collins, Senior New Hope Christian Fellowship Ministries P O Box 956606 Marietta, Georgia 30064 Greetings Pastor Collins: I am submitting the attached proposal for consideration by you, the First Lady, and the members of New Hope Christian Fellowship Ministries. This proposal identifies the problems of declining membership at your church as well as possible solutions. I have been a member of New Hope Christian Fellowship Ministries for over seven years and have watched the revolving door of members for that time. In the last eight months, I have observed many members leaving and attendance declining but unlike in the past, new members are not coming into the ministry. As a result of the declining membership and attendance numbers, the ministry is also experiencing low donations and the ministry is struggling to pay its bills. During the last few months, the significantly low donations have begun to threaten the future of New Hope. This proposal will address the problems that I have mentioned; it will also offer solutions that have the potential to provide significant relief to your ministry. Your ministry has been serving the Cobb County, Georgia area for over 20 years and my objective...
Words: 3485 - Pages: 14
...AIPM Website Membership Engagement Project Plan AIPM Website Membership Engagement Project Plan Approvals Name, Project Role & Position Project Manager Sponsor Senior User Representative CEO & Senior Supplier Document Role Date Signature Recommender Approver Approver Reviewer Document administration Development history Version Date Description Created by 0.1 13/02/2014 First Draft – Dissemination to Project Sponsor for review John Walker 0.2 15/02/2014 Second Draft – Inclusion of Business Case David Bryant 0.3 20/02/2014 Third Draft – Update from Margie’s feedback Lee Edmondson 1.0 24/02/2014 First release, reviewed and approved John Walker Contributors The following people provided information and / or were interviewed while preparing this document: Contributor Position & organisation John Walker Project Manager David Bryant Project Sponsor Nicole Walker AIPM Membership Development Manager Linda Chiarella AIPM National Events Manager Lee Edmondson AIPM Communications Manager Margie O’Tarpey AIPM CEO & Senior Supplier Kayleen Lenzo AIPM Finance and Operations Manager Document distribution history The following describes the distribution history of the document: Version Date Distribution recipients 0.1 13/02/2014 Sponsor 0.2 15/02/2014 Project Manager 0.2 15/02/2014 AIPM CEO & Senior Supplier 0.3 ...
Words: 8451 - Pages: 34
...An Analysis of the U.S. Health Club Industry in 2004 and the Role of Bally Total Fitness Executive Summary Introduction The rise of the U.S. health club industry can be traced back to the 1980s and 1990s when the majority of health clubs emerged. By 2004, this $14 billion industry claimed 41 million members. Although the health club industry operated in a perfectly competitive market, several prominent key players gained large market share, including Bally Total Fitness and 24 hour Fitness. This perfect competition encouraged entry of smaller emerging firms into the industry. In 2004, the health club industry consisted of 26,000 clubs in the U.S. Of this growing market, the fifty largest firms were responsible for 33% of industry revenue and 38% of the clubs was not-for-profit. The for-profit industry was divided into the following formats: owner-operated clubs, franchised clubs, design and management companies and health spas. Bally Total Fitness, the largest publicly traded health club operator in the United States in 2004, claimed over 3.6 million members worldwide. This multi-million dollar company had earned a reputation as being the “largest and only nationwide commercial operator of fitness centers” in the United States, a substantial leap from the single modest club that first opened in 1962. Several advantages contributed to Bally’s success over the other health clubs in the industry. CEO...
Words: 3131 - Pages: 13
...Wholesale clubs Membership only Volume discounts Limited SKUs Online stores Convenience Low overhead Sears, Roebuck, & Company Founded 1893 First retail store opened in 1925 $41 billion in sales (2001) 2,185 stores Wal-Mart / SAM’S Club Founded 1962 First SAM’S Club opened in 1983 $218 billion in sales (2001) 4, 189 stores 528 SAM’S Clubs 39 million members (SAM’S Club) Concentrated in the South BJ’s Wholesale Founded 1984 $5 billion in sales (2001) 130 stores 6.7 million members Concentrated in the Northeast Costco Wholesale Corporation Founded in 1983 Merged with Price Club in 1993 $34 billion in sales (2001) 365 stores 17.1 million members Concentrated in the West Costco Wholesale Corporation Target markets Middle class customers Small businesses Mark up limited to 14% Kirkland Signature store brand Brand name quality at discount prices Efficient operations Common-size Statements Absolute amounts vs. relative ratios / percentages Trends Where are funds allocated? How efficient is the business? Benchmarking Comparisons between businesses Sustainable Growth Model Step 1: Profitability and earnings retention Step 2: Leverage Step 3: Turnover and margins Step 4: Pretax income and tax effect Benchmarking ratios Profitability and Earnings Retention Sustainable growth Dollars in profit per dollar in equity Return on equity New vs. mature businesses Earnings retention ratio Self-sustained growth rate Profitability and Earnings Retention Return on equity = 14.2% Earnings retention...
Words: 3715 - Pages: 15
...IS351_Recruitment_and_Retention_Strategies Research recruiting and retention strategies at three different companies. What distinguishes one company from another in this area? Are strategies such as signing bonuses, tuition reimbursement, and business casual dress codes standard for new information technology workers? What strategies appeal most to you? Summarize your ideas in a two-page paper, citing at least three references. The first company I looked at was Johnson & Johnson. This company has diverse demographics in its workforce and management and has superior work/life benefits, including: retirement transition; paid time off for volunteering; a work/life resource and referral program; eldercare and adult-management services; childcare discounts, onsite daycare, resources for parenting and health-risk assessments and referrals. Some other benefits include flexible hours, onsite religious accommodations, subsidized membership in wellness/fitness facilities, a caregiver web site, an eldercare program, and college webinars and counseling. The second company was Bank of America. It is a longtime leader in recruitment and retention, especially of women and LGBT employees. The bank has always been a trendsetter in work/life policies, and its current roster of benefits includes retirement transition, paid time off for volunteering/community outreach/professional activities, onsite religious accommodations, reimbursement for both formal and informal childcare...
Words: 518 - Pages: 3
...Sales Relationships How would you define a sales relationship? Sales relationships are about building long-term relationships with customers and the process does not happen overnight. Sales relationships can be built by reaching out to customers, offering rewards and incentives to come back to the company to purchase more products, and offering the type of customer service that customers love to receive. This paper will discuss sales relationships and compare and contrast the cost of customer retention verses customer acquisition. Business-to-Business Retention and Acquisition Business to business sales can be astronomical. An example of a business to business transaction is a small company selling a large amount of product to the Wal-Mart Corporation for Wal-Mart to market in all of the organizations stores. Wal-Mart strives in selling the merchandise for a low price but wanting to make a profit in bulk. The benefit about Wal-Mart is that the company can be very beneficial to other patent holders because of how fast Wal-Mart can sell an item once the item enters the company’s doors. Another company that should be explored is Sam’s Club (which is owned by Wal-Mart). Sam’s club on the other hand allows consumers to purchase in bulk for his or her small business. The point that needs to be brought up is that at least half of the profit that Sam’s Club brings in the doors is from small business accounts. Sam’s Club offers bulk refills to candy machines and the ability to...
Words: 1004 - Pages: 5
