Female Economy Issues - Essay Example

Running Head: Marketing Analysis: Female Economy Marketing Analysis: Female Economy of Marketing Analysis: Female Economy Introduction In recent times, the amount of women, who are working, has increased in the United States of America. This amount is almost equal to the amount of working men and it may even surpass it. During the time of recession, majority of the men have lost their jobs. However, women are most likely to have lower salaries as compared to their male counterparts. At the same time, men work over time, which makes them distinctive from the economic recession. However, women still play a crucial role in influencing market opportunities and prosperity (Silverstein & Sayre, 48, 2009). Research suggests that private wealth in America is most likely to grow by sixty percent in the year 2020 (Silverstein & Sayre, 48, 2009). It also suggests that fifty percent of this wealth would go to women. Although women have contributed positively in several fields, yet they experience discrimination and are often underestimated. They are often labeled, differentiated on basis of age or salary, characterized on basis of typical women concept or are incompetent as compared to men. This paper seeks to analyze the issue of gender differentiation and discrimination in the business domain in the lights of broad and diverse academic resources. Overview Frequently, women are discriminated and often underestimated because of several reasons including chauvinist viewpoints, opposing and clashing policies, stereotyped, discrimination on basis of age, etc. Frequently, they are considered to be incompetent as compared to their male counterparts. Research suggests that in financial institutions, women are most likely to experience such characterizations and differentiations (Silverstein & Sayre, 52, 2009). Females in the financial industry and its institutions have made massive attempts and struggles in order to advance in their careers. However, it should be noted that women in the financial domain have the necessary education as well as the experience, yet they do not get promotions because of constant stereotype, labeling and the general culture of the corporate. Research suggests that women employed in financial services are often underestimated and their supervisors and colleagues often talk to them as if they do not have the basic knowledge on the subject. Company Profile Dresdner Kleinwort was founded in the year 1995. During this time, Kleinwort Benson had been acquired by the Dresdner Bank. Additionally, it gained global recognition by means of "the acquisition of the US investment bank Wasserstein Perella in the year 2001" (Christopher, 107, 2010). Its branch in Frankfurt has been successful in commencement of "trade in emission credits" (Christopher, 107, 2010). However, in the year 2008, the company experienced downfall when it's Mergers and Acquisition Department was shut in the year 2008 by Commerzbank. In the year 2009, its office in Japan was shut down. The management of Commerzbank asserted that no additional benefits or bonuses would be given to the Commerzbank group including Dresdner Kleinwort" (Christopher, 108, 2010). In the year 2010, six female employees of Dresdner Kleinwort filed a case against the investment bank because of gender discrimination and differentiation. The case was filed because they did not receive promotions and their pay was less as compared to their male counterparts. The case was filed because its female employees were treated as second-class workers. A study conducted in United States demonstrated that more than seventy percent of top management positions were occupied by white males in finance and banking industry. Analysis Environment Dresdner Kleinwort is considered to be a medium sized banking firm, which offers several diverse services and products related to finance. The services which it provides include "capital market products, foreign exchange derivatives and options, loans, collateralized debt obligations, index-linked products, etc" (Christopher, 109, 2010). It is considered to be the international investment bank and has several offices in more than thirteen countries. It has successfully reached the global finance industry by offering diversified services. It has successfully implemented information technology in order to provide better services to its users and clients. In the year 2005, it improved its IT department in order to meet the business requirements. Research suggests that the investment banking domain is considered to be challenging and having fierce competition (Kotler et al, 89, 2008). In this domain, there is a need for constant development and innovation in order to implement and support current financial products and services. At the same time, it is essential to reduce the costs associated with transaction. It is also important to meet the rules and regulations in the global domain. In the investment banking industry, technological innovations and development is the key to success in order to ensure that the bank maintains its position (Jobber, 109, 2008). Research suggests that information technology and its development is important in order to increase and generate revenues for the business (Jobber, 126, 2008). The main aim of information technology in the investment banking domain is to ensure that it provides a single, distinctive and unique main system, which ensures that all the banking activities are executed in a proper sequence. Strategic Analysis The organization concentrates on meeting the demands and needs of the customer. It covers a large body of clientele, which includes multinational corporate, investors, private clients, etc. Dresdner Kleinwort concentrates on offering valued products and services to its wide ranging clientele. It should be noted that gender discrimination and stereotype is common in Dresdner Kleinwort. In 2010, about six female employees filed a case against the investment bank on basis of gender discrimination. The case was filed in order to fight against discrimination against females because they did not receive their promotions, their pay was less and they were treated as second class citizens (Christopher, 109, 2010). Research suggests that this scenario is prevalent in the finance industry and more than seventy percent of the positions are occupied by white males. Such issues can have a negative impact on the reputation of Dresdner Kleinwort and this would allow the competitors to tarnish its image(Christopher, 110, 2010). With such negative image, it may lose its customer base. Stakeholders The main stakeholders of Dresdner Kleinwort are its customers. It has successfully offered wide ranging financial services and products to its customers in order to improve the efficiency and competence of the organization. The customers are the key to drive the business and therefore Dresdner Kleinwort has modified its organization technologically in order to maintain its customer base. Multinational corporate are also important for Dresdner Kleinwort (Blois, 250, 2000). Another important stakeholder is the European segment, where it has successfully become the leader in providing ECM and DCM. SWOT Analysis Strengths The main strengths of Dresdner Kleinwort are as follows: It is one of the best and top most investment banks in Germany It is considered to be the best leader in providing ECM and DCM to its European users. It has successfully distributed its services internationally. It enjoys the privilege of being one of the leading banks in the European region for financing of securities and equity derivatives. It has a position in the investment banking sector and is considered to be a trusted partner for wide ranging financial services such as foreign exchange, trading of equity, trading of commodities, etc. It has offers structured and organized solutions and services related to finance. Weaknesses The weaknesses of Dresdner Kleinwort are as follows: It is highly dependent on the European consumers and market It has experienced several controversies which include refusal to pay bonuses and lawsuits by female employees because of gender discrimination The environment is male dominated and majority of top positions are occupied by males Female employees experience gender discrimination Opportunities Following are the opportunities for Dresdner Kleinwort: The future is bright if Dresdner Kleinwort deals with the issue of gender discrimination. Dresdner Kleinwort needs to promote its female employees because research suggests that women employees are working as hard as their male counterparts. In order to avoid controversies and to maintain its customer base, it needs to ensure that female and male employees are treated equally. It cannot afford to lose its customers to its competitors Growth opportunities can be created. Threats Following are the threats for Dresdner Kleinwort: Losing its customer base to competitors because of controversies such as gender discrimination Giving competitors the competitive edge by offering its female employees with opportunities, which Dresdner Kleinwort is not giving to them. Strategic Options As mentioned earlier, it is expected that the amount of working women in most likely to increase in forthcoming time. In such a time, it should be kept in mind that the number of female employees will outnumber their male counterparts. Research suggests that majority of the middle managers in different segments of business are women. It is soon expected that top management positions may also be filled with women. In countries such as United States, United Kingdom, Germany, France, etc, women employees are growing. At the same time, majority of the small businesses run in these countries are run by females. Therefore, it is important for businesses and companies to acknowledge female capability and their contribution. Creating a Strategy The strategy devised by Dresdner Kleinwort should consider the possibilities created by the females. It should revolve around the number of female employees. The first important step is to remove gender discrimination and inequality. Female workers should be given equal pay and bonuses as given to their male counterparts. It has been proven from research that women still play a crucial role in influencing market opportunities and prosperity. Dresdner Kleinwort is considered to be the international investment bank and has several offices in more than thirteen countries, which has successfully reached the global finance industry by offering diversified services. In order to maintain its customer base, it has concentrated on promoting valued products and services to its wide ranging clientele. From analysis, it has been observed that the main customers are private clients and multinational corporate. It has an important position in the European segment because it provides the best ECM and DCM services(Hoffman, 190, 2005). In order to deal with the issue of gender discrimination and corporate responsibilities, Dresdner Kleinwort is searching new and innovative approaches in order to reduce gender discrimination and inequality. It is offering bonuses and benefits, which are given to its male employees. At the same time, it is concentrating on promoting its female staff as it would remove controversies. In order to protect its image and to maintain the customer base, it needs to promote its female employees in the top management (Brassington, Pettitt, & Weavers, 250, 2007). Recommendations and Conclusions Research suggests that the amount of women, who are working, has increased in the United States of America and they play a crucial role in influencing market opportunities and prosperity. However, women still experience discrimination on basis of gender, salary, etc. Research suggests that females in the financial industry and its institutions have made massive attempts and struggles in order to advance in their careers. The company selected is Dresdner Kleinwort, which was founded in the year 1995. it is considered to be the international investment bank and has several offices in more than thirteen countries. It has successfully reached the global finance industry by offering diversified services. It has successfully implemented information technology in order to provide better services to its users and clients. It strives for innovation and creativity. However, in recent times, the organization has been target of severe controversy because of workplace discrimination against women. In the year 2010, six of its female employees filed a case against it because females because they did not receive their promotions, their pay was less and they were treated as second class citizens. From the SWOT analysis it is evident that clients play an important role and it needs to maintain them. Therefore, the company needs to ensure that all of its employees are treated equally because it cannot afford to lose its customers to its competitors. It is recommended that Dresdner Kleinwort removes gender discrimination and inequality. At the same time, its female workers should female workers should be given equal pay and bonuses as given to their male counterparts. In order to deal with the issue of gender discrimination and corporate responsibilities, Dresdner Kleinwort needs to ensure that gender discrimination and inequality does not exist in its environment. Bibliography: Philip Kotler, Veronica Wong, John Saunders, and Gary Armstrong, Principles of Marketing 5th European ed. Pearson Education, 2008. Jobber, D. (2008) Principles and Practice of Marketing, 5th Edition,McGraw Hill Blois, K., ed. (2000), The Oxford Textbook of Marketing. Oxford University Press. Hoffman, K.D. (2005), Marketing principles and best practice. South Western. Brassington, F., Pettitt, S. & Weavers, J. (2007) Principles of Marketing. Princeton Hall. Christopher, Thomas. (2010). "The twentieth century revolution in state employment law" Employment RelationToday, 26, pp.107-13. Silverstein, Michael J. and Sayre. The female economy. September 2009 | Harvard Business Review Read More