The Importance of Keeping Documents

 

Introduction

There are papers and documents that are of great importance to individuals and organizations, they need to be kept in safe and secured place. Documents are important for proving the certain events and actions that occur such as daily actions and events, important activities and financial operations. Documentation and keeping records usually require time in order to save documents correctly and safely. There are many types of documents and records such as paper documents, books, films and digital document. There are many benefits for keeping documents such as proving information, providing specific data about people, places and events, obtaining authorizations, providing indications for different activities and events. Keeping documents and records is important for helping people and organizations obtain papers and information at any time easily and perfectly. There are many methods for keeping documents and there should be a plan for doing this. The current paper is discussing the importance of keeping documents, different methods for keeping them and the benefits gained from keeping documents in addition to presenting the history of keeping documents and the updated techniques for keeping documents by individuals and different organizations in both public and private sectors. (LUBKIN AND Porter, 2013)

 Discussion

History of keeping documents

Keeping documents began since human being knew writing and reading as in ancient Egypt, they used papyrus for keeping records and filing them and in ancient civilizations such as the Roman, they also used records for keeping legal documents, military papers and archaeological records. Documents developed then within time to include many different types of means and methods for keeping records and documents till it reached digital storage and digital documentation systems.

Documents' types and needs

During people's lives, they are in need to keep different certificates and important papers such as their birth certificates, marriage papers, licenses, financial papers such as those of transactions, insurance policies and social security records. Keeping documents need specific planning and techniques because there are many different systems for documentation and keeping records. Papers that are valuable for individuals and organizations can be classified into two main types which are daily needed papers and occasionally needed ones. Valuable papers that can be needed occasionally include schools and universities papers marriage papers, bank statements, credit card papers, blood analysis papers, health documentations, and health insurance cards. Papers that may be needed daily include identification cards, credit cards, driving licenses and birth certificates. These papers are difficult to be replaced, updated or changed when lost as there are many procedures for making this so they are in need for being kept safe and in areas where people can reach them easily and fast while other strangers can't reach them. There are many conditions that should be there in a place for keeping documents such as being fire-proofed, water proofed and accessible only by people who own them. Papers that are needed for medical purposes may be needed daily so they also should be kept safe and secured and accessible. Files can also be kept in electronic records that are easy for access and are put on specific electronic systems for storage such as hard of computer, portable storage devices, portable memories, files and CDs. (American Psychological Association, 2007). Paper records and documents yet should be kept in lock boxes, cupboards, roofs, purses, desks, wallets or libraries that are also water and fire proofed in order to be safe and away from harm. Regular review as well as documents filing are very important for keeping documents because it makes the person who keeps them or the organization is well aware of the papers that need to be replaced or updated via the governments or controlling authorities, it is also important for recognizing those documents that need to be discard. There should be limitation periods for those stored digital documentations in order to be readable and accessible till needed ant at any time. There should be hard copies of them and other stored on portable devices in order to avoid loss by different malfunction computer systems and storage devices. Documents need t be reviewed from time to time in order to be renewed and updated. Charts, spreadsheets, big files and large documents should be kept safe in specific areas organized with letters and dates in order to make it easier for reaching them. Dangers of thefts may be put into consideration when keeping documents. Documents should be classified before storage according to their type and the needs used for them, for example, there are identity papers, medical records, schools papers, jobs papers and identity papers. Organizing the papers and filing them is a good process for managing documents keeping and reaching them easily and correctly as this process saves time and effort. Keeping documents is necessary for many reasons because it can help people reach data easily, facilitates continuity in business organizations, enhance effective guidance and providing needed information for different relevant institutions. They can also help in helping researchers and agencies that seek information and guide them towards the right types of documents.

 (Pryor, 2017)    

Keeping documents safe     

Financial transcripts, legal documents, important papers, medical records are all very important papers that are liable for loss and they are in need to be protected, they can be viewed and checked by managers and officials so they have to be accessed easily and they have to be protected from loss. Schools also keep their records and documents and should protect them safe. People may keep their important papers in drawers, cupboards or on shelves, organizations may keep them in large storing rooms or on computers and there should be specific means for keeping documents safe. Planning for keeping documents is very important to make them safe because many people see storing information as a haphazard process that takes a lot of time and effort and requires high efficiency so planning for it before doing it protects the documents from being lost or be at a mess. Planning should include dividing the documents into groups based on time, importance and type and then to classify them in spaces prepared for each category. Protection of documents should include different damage and loss elements such as floods, fires, theft, frauds and others and then preparations should be put into consideration within planning. They should be kept in places away from children, animals and thieves.

It is important to archive and back up the documents and photos and other relevant records as archiving them makes it better to reach them and easier. Photos and documents need to be scanned and kept as digital files that are also stored where people can access them when needed but in a way that ensures not being stolen by strangers or thieves. There should be safety measures and protecting tools such as safes, keys and numbers for each file. This can help reduce the time consumed for looking for files and documents. Digital files should be kept into folders that are organized and named according to the needs of the users and the types of files themselves. (Suter, 2003)  

Conclusion

In conclusion, it is important to focus on the need for keeping documents and records as it is important for both individuals and organizations. People can get the required information as soon as they are organizing their records and preparing their documents to be reachable and accessible at any time. Records and documents should be kept safe away from children reach and they have to be well protected from thieves and malfunctions. It is important for organizations and individuals to keep their documents organized according to their types and times in order to make the process of reaching them easier and more effective. Keeping documents has been important since early times of history such as the Egyptian and the Romans. This means that it is very necessary for people and organizations to keep documents whether they are for daily use or for occasionally use. (Marinic, 2015)

Recommendations

It is recommended that people and organizations organize the process of keeping documents, they also have to make planning for it before starting keeping the documents. It is important to have copies of the important documents and keep them in safe places where they can't be reached by thieves and children. It is important to classify documents and date them in order to make it effective and easy. Organizations are recommended to scan all documents and keep digital copies of them in case of loss or fires or floods. There should be protective methods for keeping documents safe and ready for use. Individuals also are recommended to recopy documents and scan digital copies of them in order to avoid loss or return them in cases of loss. Business organizations can set plans for keeping and identifying and classifying documents in order to have access to them by managers and employees. This can improve the process of keeping documents and make it effective in order to let people gain the best benefits from keeping their documents, save time and effort consumed in looking for documents and trying to get them.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

References

1.      American Psychological Association. (2007). 'Record Keeping Guidelines.' http://www.apa.org/pubs/journals/features/record-keeping.pdf

2.      Marinic, M. (2015). ' The Importance of Health Records.' http://file.scirp.org/pdf/Health_2015052017531331.pdf

3.      Porter, N. Kubin, L. (2013). ' Your Important Papers: What, Why, and How Long to Keep.' https://dspace.library.colostate.edu/bitstream/handle/10217/185125/AEXT_091652013.pdf?sequence=1

4.      Pryor, L. (2017). 'What’s the point of documentation?.' https://arxiv.org/ftp/arxiv/papers/1011/1011.1021.pdf

5.      Suter, J. (2003). 'Documentation Basics.' http://www.archives.nysed.gov/common/archives/files/mr_pub79.pdf

 

 

 

A Study on the Effects of Sales Training on Sales

 

Introduction

There are many changes that occurred in the sales field and they affected the function of selling in the past decades and years. This happened due to the increasing amounts of information customers gained and higher needs and demands of customers related to customer service and expectation about the services and products in addition to the high competition with different companies resulting from online sales and globalization. These changes need business organizations to innovate and improve their skills and experiences via many ways such as sales training. Manrai et al, (2015) The current paper is discussing the Effects of Sales Training on Sales Force Activity through many research methods. 

Research Objective

The current paper has an objective which is to analyze the effects of sales training on sales force performance and customer orientation. 

Literature Review

According to Jobber et al, (2004) personal selling has become very important in today's competitive marketplace, it can help raise sales and improve the organization's performance and profits, it can also enhance the performance of salespersons. Salespersons has great role in improving the sales' activity of the company so they need effective and condense training in order to help them implement many sales strategies and techniques such as building effective relationships with customers, solving their problems and adding value to the sales process within time. Customer oriented selling is according to Donaldson, (1998) very necessary to enhance the salespersons performance and develop the sales activity. 

Lee, (2010) confirmed that training in a main development component and any company that needs success should invest in training its salespersons as it can improve their performance and their customer orientation activity. The salespersons should receive training by the company where they work in order to improve their performance and skills with customers and products, there are many sales training methods such as individual training, on-the-job training, external courses and high-tech methods. Roman et al, (2002) added that these types of training can be divided based on the purpose of training employees such as product training, sales skill training and sales methodology training. Sales managers also need training for supporting salespeople and managing their performance.  

Seidman, (2012) discussed sales training methods let salesmen realize the problems of customers and find effective and fast solutions for them. Training can also improve their relationship skills that include two main parallel processes which are the personal relationship process and the sales transaction process. This involves many stages such as pre-interaction stage, interaction stage and the post interaction stage. Interaction is meant to improve the communicative skills of salespersons and sales managers in order to find out new communicative ways with customers that enable them to understand the needs of customers and meet them. Trainees should actively participate in the involved activities within training in order to make effective results.

Sunardi et al, (2012) stressed the need for training employees in order to improve their sales behaviors and this can be done via main sales training methodologies that can be under two main categories which are the self -study category that includes pre-workshop assignment, readings and programmed instructions in addition to the category of workshops that includes lectures, case studies, discussions, on-the-job training, role play and real life experiences. They suggest that business organizations have to combine the two categories of training in order to help employees and sales managers, George, (2008) also referred to the need to train employees on different selling techniques and preparing sales training programs that may vary depending on the way they are standardized such as general programs for all salespeople, top down sales activities and mandated activities that are formal and centralized, other activities are courses that are given to salespeople either in the organization or outside it by special experts in selling.

Mikula, (2004) asserted that when the organization train salespeople, a deep analysis for the organization should be made before starting training as it helps understand the needs of training in the organization, reasons for it, benefits that can be gained from it and different methods for implementing it as this can raise the chances of the success of sales training which in turn enhances the organization's performance and profits. This analysis can also find out the differences of trainees and the characteristics of the different jobs they each should perform and then to decide the best method for training them.

Research Philosophy, approach and strategy

The research philosophy is the development of the research background, nature and knowledge and it is also this framework that includes within different theories, practices and perceptions used for conducting a research. It can also be those procedures that involves the different steps the researcher uses to relate the research question to its objectives. The research philosophy can be pragmatism, positivism, post positivism,  realism, phenomonology or interpretivism. The current paper depends on the positivism research philosophy because according to Crossan, (2002) positivism is a research method that depends on the quantifiable observation that can lead to statistical analysis, it is said to support knowledge that results from human experiences.  It has an atomistic, ontological view of the world as comprising discrete, observable elements and events that interact in an observable, determined and regular manner.  (Mkansi and Acheampong, 2012)

The research approach is plan or the procedures used and applied for research and it decides the steps from different  assumptions for many methods of data collection, analysis, and interpretation. This plan involves some decisions that specify the decisions to be taken in writing the research. (Teherani et al, 2015)

The inductive approach which is also referred to as the inductive reasoning is a research approach that begins with theories and observations that are presented in the research to its process end and resulting from the observations. It involves searching for pattern from the observation and explanation development. ( Thomas, 2006)

The research strategy is the general plan of the research that the researcher uses in order to reach reasonable answers for the research questions. The current paper is using the survey research strategy. (Badke, 2011)

Ethical implications in this research

Research ethics ensures the protection of rights and information related to the research. During evaluation of this research, some ethical implications are set into considerations such as informed consent from the participants in the research questionnaire, voluntary participation is ensured, participants are ensured to participate in the research with no harm, confidentiality of information is also ensured and the research only assesses relevant components. 

Research Methodology

1.      Research Design

The research design depends on some methods and procedures for data collection and on some analysis measures used for measuring the different variables that are specified within the research paper and relevant to the research problem. The current study type is the inductive approach as it is descriptive basically and semi-experimental. Data collection methods depend on the journals relevant to the topic, books and internet articles that are trustworthy. Analysis plan depends on a questionnaire presented for people working in Napier Healthcare.

2.      Sampling

Sampling depends on collecting answers of questionnaire from 100 employees in Napier Healthcare which is a health care company in Oman. Participants were all agreeing and consents were taken from them before starting the questionnaire. Samples were randomly chosen from different types of employees in the company. Systematic random sampling techniques were used mainly.

3.      Data Collection Methods

Data was collected from different resources, mainly primary data was gained from the questionnaires that were delivered to employees of Napier Healthcare company as questionnaires were delivered to them after their consent. Secondary data was got from books, journals that are relevant to the topic and online sites as well. Data was too much and then it was analyzed in order to choose the most relevant data to be used in the research, most recent and evidence based data were chosen.

4.      Tools used for Analysis: Percentage Analysis

For analysis, tools are chosen carefully, percentage analysis is used and applied in order to know the real percentages of answers of the questionnaire. Analysis is applied in order to know real answers related to the sales training of salespersons and sales managers and how far the sales training is important to sales activity development. 

5.      Structure for Questionnaire

Five questions were set in the questionnaire in order to be delivered for participants. There are four questions for quantitative analysis and they are close ended and there is one question which is open ended for qualitative analysis.

  

Freedom of the air

 The freedom of the air is a group of commercial aviating rights that grant the airlines of a country the rights to get into land of the airspace of other country. It was made in 1944 by many international associations such as the Chicago Convention known as the Convention on International Civil Aviation. The international commercial aviation route network is the fundamental association that helped in forming the freedoms of the air. The nine freedoms of the air are: 1. The right for flying over foreign country but without making landing in this country. 2. The right for being refueled and get maintenance in foreign country through travelling the way to another country. 3. The third is the right to fly from one's own country to another country. 4. The right to fly from a foreign country to the own country. 5.The right to fly between two countries during flights while the flight begins or ends in the own country. 6. The right to fly from a foreign country to another while stopping in one own country without technical reasons. 7. The right to fly between two foreign countries while not offering flights to one's own country. 8. The right to fly between two areas in a foreign country while continuing service to own country. 9. The right to fly into a foreign country while not giving service in own country. The possible reasons to make the freedoms of the air in the world of commercial aviation are related to logistics and other economic reasons such as advantages in communication and international cooperation in shipping.

 

Question 2

How can you analyze the impacts of breach of air freedoms to Qatar by GCC countries and Egypt?

The crisis in Qatar had left many passive impacts on the economy and logistics of Qatar as the breach lead many countries to cut diplomatic relations with Qatar such as Yaman, Liybia and Maldives. This also affected its trade movement as closing these countries' borders lead to decrease in exporting and importing and reduced Qatar global business and links with many other different countries. The problems of Qatar with these countries also affected its entering water boarders with other areas and land boarders as well, this made the movement of Qatari passengers more difficult and delayed than before. This lead to traffic revenue losses by Qarat airways and to many businesses in Qatar and related to it. 

What do you recommend to minimize the traffic revenue losses by Qatar airways? Support your recommendations with reasons.  

In order to reduce the traffic revenue losses by Qatar airways, it is then recommended to provide cheaper air flights to new areas where the airway lines are shorter in order to encourage travellers to go there. This is based on views of Dwell, (2017) who confirmed the need to change airway destinations when needed and according to the amount of revenue loss as it is important to innovate and provide new travelling solutions for customers. Another thing is to improve the customer experience within the air flight in order to reduce the passive effect on passengers who have to spend more time as a result of changing the air way paths.  

 

 

 

 

 

 

References

1.     Dwelle, E. (2017). ' How to improve airline operational performance and disruption management.' https://www.sabre.com/insights/how-to-improve-airline-operational-performance-and-disruption-management/

https://pomeps.org/wp-content/uploads/2017/10/POMEPS_GCC_

Business in a global context HSBC

 

Introduction

Business in a global context today has made business organizations face many challenges and higher competition levels. This global competition has made organizations innovate in their management strategies, leadership styles and services in order to reach competitive advantage and improve their performance. Most companies today are working on an international level in order to reach higher profitability and achievement. Working in such a global context makes it difficult to boost the market and reach competitiveness easily so business organizations try to apply techniques of global management and make use of the cultural diversity in the work environment. There are many challenges facing any business that is done in an international work environment or in a global context as there are many strategies for enhancing business in a global context and they should be based on deep analysis and evaluation. (Kalkan, 2011) The current paper is analyzing and evaluating the marketing strategies of HSBC bank Oman through applying the principles and practice of business in a global context and how the bank is employing its resources and internal and external capabilities and growth.

Analysis of the company's growth and performance

Since the many financial crisis that spread all over the world, banks internationally tried hard to protect their industry and market share as well as improving their growth level and performance. HSBC has been one of the most important international banks that is trying to keep and improve its level of growth and performance. HSBC Oman improved its internal and external capabilities in order to improve its growth and performance, the bank has added many services and updated its current services to boost the banking and financial market in Oman. First of all, the bank provided many opportunities for helping drive major projects in Oman such as providing trading facilities for Al Fairuz trading and contracting company as the bank provided it with a special loan system for purchasing its equipment. HSBC provides the company with an invoice discounting facility that is invaluable when it comes to managing the delayed payment challenges that can arise on major infrastructures projects. Projects of this type added too much to the bank's name and reputation internationally as the company is dealing with suppliers from all over the world. (Businesshsbc, 2017)

The bank has also added many services that provided different solutions for customers and attracted them in order to invest with HSBS. It provides many investment solutions that can help small and big investments grow and make profits. Examples are the global payables and global receivables the bank has delivered to its customers. The bank provided its customers with new electronic payment solutions in order to improve the way they manage their capital. The bank helped customers increase the efficiency of their operations by providing them with new services such as personal banking, internet banking, mobile banking and a variety of cards and ATM services that suit all needs and are easy to be accessed by all available means. The bank has been trying to raise its efficiency by raising its capitals through clients' investments in the bank's projects. The bank has been facing a profitable growth challenge by tailoring many liquidity solutions that suit the local market regulations and the bank has tried to raise profits and investments, for example, during the last 3 years total fines of RO 32,410 were imposed on HBON and its Pakistan operations for regulatory penalties. This amount comprised of fines of RO 30,000 levied by the CBO relate to procedural, delegation of powers, policies and operational issues relating to integration. The Chairman has responded to the CBO and a Board approved action plan is in place to rectify the issues. Fines equivalent of RO 2,410 were levied by State Bank of Pakistan on HBON's Pakistan operations relating to operational issues.   The bank is also trying to make business with other banks and raise deposits and thus profits as according to the bank's report of 2014, aggregate deposits held with commercial banks registered a significant increase of 10.9% to RO17.3 billion in December 2014 from RO15.6 billion a year ago. Government deposits with commercial banks increased by 10.1% to RO5 billion, while deposits of public enterprises reduced by 6% to RO0.88 billion during the same period. Private sector deposits, which constituted 64.7% of total deposits with commercial banks, increased 13.5% to RO11.2 billion in December 2014, from RO9.9 billion a year ago. The bank's external capacity is also high and effective as the bank is raising its efficiency of operations by managing its cash on a portfolio basis that includes about more than fifty international markets as the bank's global liquidity solutions include a variety of investment, self-funding and deposit techniques. The bank will tailor its liquidity solutions and will restrict them in order to be compliant with the regulations of the local market and not to restrict the services' availability. The bank approaches combines both effective information system and consistent services to be integrated easily in the business of any investing organization and the bank also includes a great management system that supports key clients' processes such as payable and receivable. (HSBC Annual Report, 2014)  

SWOT Analysis of the company

Strengths The bank depends on strong human resource management and high efficient human resources who are trained on the latest banking systems and techniques. HSBC presents many services and investment solutions including internet banking, personal banking and liquidity and liability. The bank deals with many international companies and have very strong clients from all over the world. The bank has a wide range of global liquidity solutions and is trying to be tolerated with the local market regulations. The bank provides its clients with guarantees and insurance systems. The bank has a variety of payment methods. The bank has strong infrastructure that provides many projects and facilities to its clients. The bank is increasing its operational finance to be working capital. The bank has a strong information system that is highly secured and protected. The bank depends on a strong effective net dealing with its customers via strong and efficient customer service team that uses the internet and mobile services to connect with clients and meet their needs.

Opportunities The bank has many opportunities for attracting more clients from Oman and form other countries as the bank provides a variety for solutions suitable for investment and projects. The bank has effective services that are strong and fast and can ensure accurate and safe delivery to boost other market rivals. The IT systems of the bank is stronger and updated than others in the market. The bank can expand its businesses in the area of the Middle and Far East depending on the success it made with companies in these areas. Realizing the margins in line with the risks taken. The bank can make expansion of anti-cyclical investments.  It can also add some management activities to encourage human resources innovate. It can also build new client relationships via the internet and social media. It can broaden its product portfolio and enhancing cross-selling activities. Boosting HSBC reputation to be regarded as a reliable partner in the international transport industry in the Gulf area and Middle East and MENA area.

Weaknesses The bank is in need to apply other different types of banking systems such as Islamic banking services such as Shariah services. The bank is in need to provide solutions for big companies that need big loans for great projects and the Omani law and regulations restrict them. The bank needs to train its human resources on updated Information Technology and updates in the banking services. Online contact with client need to be stronger. The bank need to find more effective means of communication with customers online such as chatting or social media sites. The bank needs to present more tax free solutions for its clients.

Threats Imbalance in currency prices especially the US Dollar compared to Omani Riyal. Problems in the global financial markets that may affect foreign investments. The rivals of the market especially those electronic banks such as PayPal and Moneybokers and others that provide easy transaction solutions and easy online purchasing. Development of the prices of goods locally and internationally. Differences in clients' needs and purchase movement. The updated technology that changes daily in all fields and in banking fields in particular. The rising threats of recession. The employees' turnover that is based on the expatriate employees in the bank as this affects the human resources management in the bank and the customer services. The effects that are occurring on the bank's net interest margins that may happen due to early payments and other financial activities in the bank. (Ommani, 2014)

 

Effects of competitive advantage

Wang, (2014) discussed how competitive advantage can be reached by the business organization and what features can show the organization has competitiveness over its rivals and how the organization can reach competitive advantage. He explained that there are determiners that the organization can seek in order to measure its competitiveness as he mentioned The Market-Based View (MBV) of strategy that argues that industry factors and external market orientation which are the primary determinants of firm performance and how the organization can find out the operations and activities it should focus on in order to increase competitiveness. This was also confirmed by Hana, (2013) who added that innovation can bring in competitive advantage to the business organization and it should be based on the market needs and that technological improvements can add features to the competitiveness of the organization in addition to cooperation and identified production routes. 

HSBC depends on different areas of business in order to achieve competitive advantage as the bank focus on its industrialized operations as the bank exerts great efforts on cost reduction so as to protect its margins. The bank has different local and international projects that are meant to develop its resources and encourage clients to invest in it. Clients' satisfaction is aimed at the industrialized operations of the bank through the streamlined processes and the compensation strategy the bank is delivering for its clients in order to reinforce their required sales behaviors. Another area of interest in the bank is the asset protection strategy as it is mainly focused on by the bank in order to ensure competitiveness. The bank is trying to move to compliance in order to ensure it is one of its business activities and this raises clients' trust and confidence in the bank's business and raise competitiveness. The bank tries to protect its asset through improving risk management capabilities. The bank also has effective management of the technology based risks as many clients fear investing in such a high technologized environment and this raises effectiveness and competitiveness of the bank. Leadership is also well trained to implement such technology and make full use of it and encourage clients to invest using it. Stability of the bank's operating platforms also encourages clients to trust the bank and invest in it. Another important area of competitiveness the bank focuses on is the delivery transformation as the bank gives much interest and support to the mobile payments and mobile network operators as well as emerging innovators as this increases the investment levels with the bank. The bank's digital services are very strong and much more important than others found in different banks. Another area for competitiveness the bank focuses on is the return on capital as the bank tries to reshape its own competitive landscape by increasing opportunities for clients to have high benefits and profits as well as helping the economy of Oman generally to be improved through the services and projects the bank delivers to its clients in Oman as this increases revenues and raises the bank's competitive strength.    

Ethics and corporate social responsibility

Harrison et al, (2015) discussed how the stakeholder theory can be an effective ethical approach for effective management, they referred to the need to support the organization vi stakeholders' support as the organization has to regard all stakeholders' needs and meet them and treating them morally and give much care to the business ethics and corporate social responsibility. They also confirmed that the business ethics is related to good management and lead to higher financial performance. This was also mentioned by Litz et al, (2008) who added that the theory sheds the light on corporate negligence of some organizations and that this leaves a big impact on stakeholders and on the organization's name, the organization should give much care to issues related to ethics and the environment and that leadership should be effective strategist in dealing with issues relevant to stakeholders. They added that stakeholders should be classified into groups and each group should receive the proper interest by the business organization. This will reflect on the organization through the support of stakeholders and raising its reliability. Legislated access to information by stakeholder is one of their rights and they should have full awareness of the organization's activities and interests, projects and aspirations for future of the organization and stakeholders' welfare. Stakeholders' support can be gained by building a bridge of trust between leadership and the stakeholders. The firm performance should include developing its performance related to ethics and corporate social responsibility. 

The HSBC board gives much importance to a very high standard corporate governance that is able to create a bigger value on the long term for the bank's stakeholders based on the bank's strategic goals. There are some main principles that the bank's ethics and corporate social responsibility are based on including the bank's financial strength, risk management, giving care to the environment, speed and accuracy, informing stakeholders and high competitive levels of performance as well as the high quality of the services. The bank depends on integrating resources and allocating them to the welfare of both the bank and the clients and the Omani and global society as stakeholders include all elements in these areas. The bank has governance policy that depends on effectiveness of the bank's board of directors and its clear vision and strategic direction for development. The bank also sponsors many charity and social events in Oman and globally in addition to many other projects that provide welfare and benefits to the local and international society.   

Reflective summary

The current paper discusses how HSBC Oman bank can represent a good example for working in a global context, the bank has many ways it is growing through such as the different facilities and project aids it presents for Al Fairuz trading and contracting company including the special loan system for purchasing its equipment. Growth also depends on the high technologized services the bank presents to its clients such as personal and internet banking as well as the online services and ATM machines services. The bank also has many strengths and opportunities that can improve its position in the market and improve its performance such as its strong information system and customer service as well as opportunities in the Middle EAST AND Far East where the bank can expand its business and projects. The bank yet faces some threats and suffers some weaknesses such as the need to apply different types of Islamic banking in order to meet the clients' needs related to Islamic banking. Threats include the changing prices of currency especially the US Dollar compared to the Omani Riyal and other currencies. The bank is very keen on ensuring competitive advantage through different services and projects that add too much to the Omani economy and by industrialized operations, international projects, stability of revenues, high profits, risk management capabilities, asset protection, technologized environment, delivery transformations, mobile services and internet banking. The bank focuses on ethics and corporate social responsibility in order to maintain all stakeholders' interest and satisfaction, this includes employees in the bank, clients and local and international society, stakeholders are well informed about the bank's activities and they have enough awareness related to the services the bank provides the Omani society with. The bank is a sponsor for many charitable projects in Oman and worldwide in addition to social events as well. The bank depends on strategic goals to meet the expectations and aspirations of stakeholders. The bank is recommended to add new service such as Islamic banking services and innovate in the current services it has. The bank is asked to compare other rivals such as those online banks including PayPal and Moneybokers and try to add services they have to the bank's clients online in order to make transactions easier and faster and more secured. The bank is recommended to train its human resources, give them new compensation system and retain them with different means in order not to turnover and cause loss to the bank or represent threats. The bank is asked to increase its CSR activities and share in more social and educational events in Oman and internationally in order to achieve more competitive advantage in such a global context.    

 

 

 

 

 

 

 

 

 

 

 

 

 

References

1.      Businesshsbc, (2017). 'Helping drive major projects in Oman.' http://www.business.hsbc.co.om/en-gb/article/helping-drive-major-projects-in-oman

2.      Hana, U. (2013). ' Competitive Advantage Achievement through Innovation and Knowledge.' Journal of Competitiveness. Vol. 5, Issue 1, pp. 82-96, March 2013 ISSN 1804-171X (Print), ISSN 1804-1728 (On-line), DOI: 10.7441/joc.2013.01.06

3.      Harrison, J. Freeman, E. Abreu, M. (2015). ' Stakeholder Theory As an Ethical Approach to Effective Management: applying the theory to multiple contexts.' http://www.scielo.br/pdf/rbgn/v17n55/1806-4892-rbgn-17-55-00858.pdf

4.      HSBC Annual Report, (2014). 'Annual Reports and Accounts 2014.' HSBC Bank Oman S.A.O.G.

5.      Kalkan, V. (2011). ' Knowledge Management Challenges For Global Business.' International Business and Economics  Research Journal.' https://www.cluteinstitute.com/ojs/index.php/IBER/article/view/3623

6.      Litz, R. Laplume, A. Sonpar, K. (2008). ' Stakeholder Theory: Reviewing a Theory That Moves Us.' http://journals.sagepub.com/doi/pdf/10.1177/0149206308324322

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9.      http://www.hsbc.com.kw/1/2/!ut/p/b1/04_SjzQ0sDQ3sTAyMzDSj9CPykssy0xPLMnMz0vMAfGjzOIN3I1D_UINDYJdDHw9QjzNfQwcLQzAAKggEqjA2d3RwwQobGBhamFo4OnoEWpuFuxiZOBoTEi_n0d-bqp-blSOBQB4yIFP/dl4/d5/L2dJQSEvUUt3QS80SmtFL1o2XzBHM1VOVTEwU0QwTUhUSTdPUFE2MDAwMDAw/

10.  http://www.hsbc.co.om/1/2/om/personal/banking/current-savings-account/mobile-banking