To determine the value of the oil tanker for tax purposes, you should consider factors such as its age, condition, market demand, and recent sales of similar tankers. You may also want to consult a marine surveyor or a professional appraiser who specializes in maritime assets to get an accurate valuation.
Right Answer: To improve relations with our customers, we can enhance communication by actively listening to their feedback, providing personalized support, and regularly checking in to understand their needs. Additionally, we can offer loyalty programs, ensure timely responses to inquiries, and create opportunities for customer engagement through events or surveys.
Ques:- A tire manufacturer in Vietnam has been the only player in that market due to high tariffs on imports. They dominate the tire industry. As it stands, the tariff is 50% of the total cost to produce and ship a tire to Vietnam. Because of the forces of globalization and lower consumer prices, the Vietnamese government decided to lower the tariff by 5% a year for the next ten years. The company is very concerned about this change, as it will radically alter the landscape of the industry in Vietnam. They hire you to assess the situation and advise them on what steps to take.
Right Answer: The tire manufacturer should take the following steps:
1. **Cost Reduction**: Focus on reducing production costs to maintain competitiveness as tariffs decrease.
2. **Market Research**: Analyze potential competitors and market trends to understand the impact of reduced tariffs.
3. **Product Differentiation**: Invest in innovation and quality improvements to differentiate their products from potential imports.
4. **Strategic Partnerships**: Consider forming alliances with local distributors or retailers to strengthen market presence.
5. **Diversification**: Explore opportunities to diversify product offerings or enter new markets to mitigate risks.
6. **Advocacy**: Engage with the government to discuss potential support measures for local manufacturers.
7. **Long-term Planning**: Develop a long-term strategy that anticipates further tariff reductions and prepares for increased competition.
Right Answer: I would focus on the unique features of the fridge, such as its ability to keep food fresh and organized, and emphasize how it can help store perishable items efficiently, making life easier and more convenient even in a cold environment.
Ques:- Your client is a financial services firm, specifically the Treasury services department. This division has its own software/IT group that created a breakthrough Web case management system that has netted awards and new clients. Your firm recently merged with larger firm that made this platform the enterprise standard. All current clients must migrate to this system while requirements from older clients form a serious backlog. Finally, the new firm is losing market share in its ForEx currency trading operations due to technology-based issues and has fallen from 1st place to 4th worldwide. How do you prioritize these demands and how do you restructure to successfully meet demand? What impact will your recommendations have on the Treasury Services department and on clients?
1. **Assess Urgency and Impact**: Evaluate the backlog of requirements from older clients and the technology issues affecting ForEx operations. Prioritize fixing critical technology issues first to regain market share.
2. **Implement Agile Methodology**: Restructure the IT team to adopt Agile practices, allowing for quicker iterations and responsiveness to client needs.
3. **Create a Cross-Functional Task Force**: Form a dedicated team to focus on migrating clients to the new platform while addressing the backlog of requirements.
4. **Set Clear Milestones**: Establish timelines for both migration and backlog resolution, ensuring transparency with clients about progress.
5. **Enhance Communication**: Regularly update clients on changes and improvements to rebuild trust and confidence.
The impact of these recommendations will likely lead to improved client satisfaction, a more efficient Treasury Services department, and a stronger competitive position in the market.
