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How To Do A Competitive Analysis In Three Easy Steps + Free Template

The most effective method to Do A Competitive Analysis In Three Easy Steps + Free Template So your supervisor has come to you and said you have to do a serious investigation. Perhaps youve never done one, or possibly its been some time and you have to catch up on your abilities before you lead another. In any case, weve recovered your. Before the finish of this post, you’re going to Realize what a serious investigation is (and why you should mind) Effectively have the option to direct your own serious investigation (on the grounds that I’m separating it into three simple advances) Get a case of what one resembles (for simple reference later) Also, have the option to download your own one of a kind contender examination layout down beneath. Let’s get to it. Figure out How To Do A Competitive Analysis In Three Easy Steps + Free TemplateWhat Is A Competitive Analysis? In the event that you've never done a serious investigation, this is a decent spot to begin. Each business that I am aware of has contenders. (This isn't only for the Nike's of the world, on the grounds that the littler you are, the more defenseless you are to the opposition.) The littler you are, the more powerless you are to rivalry, so get to that competitive...Understanding the qualities and shortcomings of your opposition is essential to the achievement of your business. Other than better understanding the condition your business works in, directing customary serious investigations likewise encourages you: See how you can improve your own limited time tactics†¦ Gauge the eventual fate of the market (particularly identified with the financial climate)... Better objective current customers†¦ What's more, encourages you read new crowds. Said another way - directing a contender investigation is pivotal to how you choose to work your entireâ business. Suggested Reading: How to Complete a Social Media Audit in 9 Steps (Free Template) Serious Analysis Definition As indicated by Entrepreneur, the serious investigation definition is this: â€Å"Identifying your rivals and assessing their systems to decide their qualities and shortcomings comparative with those of your own item or service.† Contender investigations are more mind boggling than simply making sense of what your rivals are (or are not doing). They're tied in with taking what you realize and improving your own business. All things considered, information that doesn't drive change is only a number. Information that doesn't drive change is only a number. Here's the means by which to do a serious examination right.So moving forward without any more ado†¦ Let’s bounce into how to do a contender examination! The most effective method to Do A Competitive Analysis Playing out a serious examination may appear justâ another task on your ever-expanding plan for the day. What's more, while it may appear to be overwhelming from the outset, they're not excessively muddled and they are extremely advantageous. What's more, to demonstrate it - I’ve separated how to do a serious examination in THREE (truly, only three) simple advances. Stage 1: Identify Your Competitors This is a conspicuous initial step. To begin, play out a Google search of the items/benefits YOUR business offers, and observe the outcomes. For instance, on the off chance that you sell outdoors materials, you would type â€Å"camping tents, light, outdoors gear, etc.† into the web search tool, and afterward survey the outcomes, and arrange a rundown of organizations who additionally sell outdoors materials. It's critical to be sensible about who your genuine rivals are. Here are two or three models: In the event that you’re an entrepreneur with a neighborhood physical ladies' dress boutique, your opposition isn't the men’s retail location over the road (despite the fact that they are likewise selling attire). The opposition you should concentrate on would be another women’s apparel store who is selling precisely the same item as you. They are the ones who will have the biggest effect on your prosperity. Or then again On the off chance that you’re a showcasing organization in Minneapolis, Minnesota, your immediate rivalry is other comparable estimated promoting offices in the zone - not Ogilvy (a significant publicizing office) in New York City. Furthermore, when you feel certain about your pool of rivals, it’s on to the subsequent stage! Suggested Reading: 90 of the Best Marketing Quotes to Prove Every Point Stage 2: Research Your Competitors After you’ve recognized who your immediate rivals are, it’s time to explore them! This progression is frequently the most tedious of the three, but on the other hand it's is the MOST significant advance. The information you gather here will legitimately affect the result of your examination. The principal period of the examination ought to be centered around the matter of your rivals. Things you should search for include: Evaluating methodologies. Deals design. For example on the web or physical area? Item offering Next - you have to make sense of why a client would decide to buy from your business and not one of your rivals. The most ideal approach to do this is to overview new/current clients. Suggested Reading: The Best Free Marketing Proposal Template That Will Get a Yes Here are a couple of inquiries you could pose to new/current clients: What different business would you say you were thinking about before you picked us? What do we have that our rivals didn't have? Is there anything you wished we did have that our rivals do have? This genuine criticism is perhaps the most ideal approaches to make sense of how you stack facing your rivals according to your clients. At last, you have to delve into their showcasing materials and brush about each part of their site, internet based life and email correspondence. Here are the significant things you have to consider: What are they doing with their showcasing content? What are there generally procedures with regards to request age, PR/internet based life, and item advertising? Who is their intended interest group? (For example Youthful experts? Undergrads? Proficient advertisers?) What number of supporters do they have on all the interpersonal organizations? How are they situating themselves in the market? (For example Is it true that they are the most elevated/least $$$ choice?) Suggested Reading: The 30 Best Content Research Tips That Will Make You More Influential Stage 3: Compare Your Business The last advance is to contrast yourself and your rivals. The most ideal approach to do this is by playing out a SWOT examination for every contender, which encourages you recognize your own qualities and shortcomings, and thusly, distinguish your future chances and dangers (this is the place the term SWOT originates from). Once you’re done, you will have an away from of how you stack facing your rivals, and have all the data you have to choose what changes should be made to streamline your business.

How to Deal WIth Kleptophobia or the Fear of Theft

How to Deal WIth Kleptophobia or the Fear of Theft Phobias Types Print Causes, Symptoms and Treatment of Kleptophobia By Lisa Fritscher Lisa Fritscher is a freelance writer and editor with a deep interest in phobias and other mental health topics. Learn about our editorial policy Lisa Fritscher Updated on November 19, 2019 Westend61/Getty Images More in Phobias Types Causes Symptoms and Diagnosis Treatment Kleptophobia, or fear of theft, can actually be used to describe two distinct fears. The first is a fear of being stolen from or robbed. The second is a fear of stealing from someone else. The two fears are often related and may exist simultaneously. Causes There are several situations that can trigger kleptophobia, including: A Negative Event. Both forms of kleptophobia are often, but not always, triggered by a negative event. For example, if you have been robbed at gunpoint, you are at a higher risk of developing a fear of being robbed. Likewise, if you have ever been a thief, you may worry that you will fall back into old patterns.Internal Conflicts. Either form of kleptophobia may also be rooted in internal struggles or conflicts. Society does not cleanly divide into abstracts of “good” and “evil,” and defining our own morals can be challenging. For example, most of us were taught as children not to steal, but how many of us actually return extra change that we were given by mistake? It is common to justify small “cheats,” but simultaneously worry that this behavior may constitute stealing, or might even lead to larger and more definitive thefts.Being Ripped Off. Most of us accept that business dealings are not always “fair,” and that we might at times be ripped off. We tend to let smal l things go in an effort to be cooperative or avoid confrontation. Over time, however, even small amounts of overcharging can cause us to feel victimized, eventually worrying that next time we will be more seriously taken advantage of. Symptoms The symptoms of kleptophobia vary depending on the type that you suffer. If you are afraid of being robbed, you are likely to develop a defensive posture. You might lock up valuables before anyone visits, maintain a guarded attitude with strangers and avoid walking anywhere alone, particularly at night. You may obsessively check contracts, avoid loaning money even to close friends or be afraid of large crowds.If you are afraid of stealing from others, you might become scrupulously honest and giving. You might double-check received change, refuse to accept loans, and even consciously avoid eating the last serving of any food. You are likely to go out of your way to avoid situations that might tempt you to steal, such as money handling jobs or social gatherings. Some people with this type of kleptophobia find that their fears extend to cheating, and are extremely careful to follow every rule when playing games.Both forms of kleptophobia can lead to isolation, low self-esteem, depression, and other types of anxiety disorders. You might develop social phobia or even agoraphobia due to the fear of exposing yourself to what you perceive as high-risk situations. It is common to develop feelings of worthlessness and shame. Treatment Like most phobias, kleptophobia can be successfully treated using a range of techniques. Cognitive-behavioral therapy: This type of treatment helps you learn to stop your negative self-talk and think more logically about theft. You will also learn new behaviors and coping strategies that you can use in stressful situations.MedicationsHypnosisTalk therapy: It is important to choose a therapist that you trust to help you work through your phobia.

Dispute Resolution By Forced Arbitration - 1636 Words

Dispute resolution is a term that refers to a number of procedures that can be used to settle a claim. Conflict resolution procedures are alternatives to receiving a court resolve the dispute in a trial. People often have to compensate a large fee just to start the arbitration procedure. If they are able to make an in-person audience, people sometimes have to travel thousands of miles on their own money to attend the arbitration. In the final stage, the loser often pays the company’s legal fees. Forced arbitration is chosen by companies because it benefits companies. People are frequently unaware that they’ve agreed to forced arbitration. Most Americans have accepted good or services or a job with forced arbitration as a condition. Forced arbitration severely limits consumer choices for breaking up a conflict. By forced arbitration if any problem comes up, you can’t amend that decision. The contract typically also names the arbitration company that must be used. Forced arbitration clauses generally bind the consumer and not the company. The way many forced arbitration clauses are written, the seller retains its rights to call for any complaint to court while the consumer can only initiate arbitration. Arbitration is a private system without a judge, jury or a right to an appeal. Arbitrators aren’t required to learn the law into account in arriving at their determinations. There is no appeal of decisions to ensure the arbitrator got it right. Employees cannot sue forShow MoreRelatedAlternative Dispute Resolution And The Different Types Of It898 Words   |  4 Pagesessay I will address what alternative dispute resolution is and the different types of it. ADR stands for Alternative dispute resolution is something that provides an alternative way of settling civil disputes than the traditional way using the courts. The main forms of Alternative dispute resolution are being arbitration, adjudication mediation and conciliation, however in the United Kingdom the most commonly used alternative dispute resolutions are arbitration and mediation but adjudication is becomingRead Moreï » ¿Describe the different methods of Alternative Dispute resolution available to deal with civil cases?1090 Words   |  5 Pagesof Alternative Dispute resolution available to deal with civil cases? Disputes Resolution has become a major aid in helping resolves disputes between different parties, primary between private companies, but also between individuals. The courts has aimed to make Dispute Resolution as fair as possible and has placed regulations on all of the keys methods of Dispute Resolution. 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RESEARCH ASSIGNMENT5597 Words   |  23 PagesALTERNATIVE DISPUTE RESOLUTION LUKE BUCHHOLTZ 2011018492 RESEARCH ASSIGNMENT Submitted to partially comply (in the module PPR 404) with the conditions for the degree B.Sc (Quantity Surveying) Honours Department of Quantity Surveying and Construction Management Faculty of Natural and Agricultural Sciences UNIVERSITY OF THE FREE STATE BLOEMFONTEIN Mrs M-M Els 2013 TABLE OF CONTENTS ALTERNATIVE DISPUTE RESOLUTION 1. Chapter 1 Introduction 3 2. Chapter 2 What

The Incidence And Severity Of Diabetic Nephropathy

Genetic susceptibility — Genetic susceptibility may be an important determinant of both the incidence and severity of diabetic nephropathy. The likelihood of developing diabetic nephropathy is markedly increased in patients with a diabetic sibling or parent who has diabetic nephropathy. Age — For type 1 diabetes, the risk of developing ESRD is very low for patients diagnosed prior to age 5; at older ages, the relationship of age to progression to ESRD is uncertain Blood pressure — Higher blood pressures have been noted to be associated with diabetic nephropathy. Obesity — A high body mass index (BMI) in patients with diabetes has been associated with an increased risk of chronic kidney disease. In addition, diet and weight loss may†¦show more content†¦Metabolic memory applies in nephropathy. In nephropathy, significant persistent benefits were noted in those who had received intensive therapy compared with those who received conventional therapy during the DCCT. After eight years of follow-up in EDIC, patients originally assigned to intensive glycemic control were significantly less likely to develop new microalbuminuria (7 versus 16 percent), new clinical albuminuria, also called macroalbuminuria, (1.4 versus 9 percent), and hypertension (30 versus 40 percent). After 16 years of follow-up in EDIC (22 years since in the start of the DCCT trial), patients originally assigned to intensive glycemic control were significantly less likely to develop impaired renal function, defined as an estimated glomerular filtration rate less than 60 mL/min per 1.73 m2 (3.9 versus 7.6 percent). Hyperlipidemia is common in diabetic patients, a tendency that is increased by the development of renal insufficiency. Aggressive lipid lowering is an important part of the medical management of all diabetic patients since diabetes is considered a coronary heart disease equivalent. An elevation in lipid levels also may contribute to the development of glomerulosclerosis in chronic kidney disease. A prospective study in patients with type 1 diabetes mellitus found that a plasma cholesterol concentration above 220 mg/dL (5.7 mmol/L) was an important risk factor for progressive renal disease,

An Investigation Into the Factors Influencing the Implementation Free Essays

Chapter One Introduction 1. Introduction This chapter will cover the background of the research problem, purpose of study, hypotheses, importance of the study, and the scope of the study. The chapter introduces the major concepts of the study of strategic alliances and agent banking models. We will write a custom essay sample on An Investigation Into the Factors Influencing the Implementation or any similar topic only for you Order Now 1. 1. Background 1. 1. 1 Strategic Management Process Although most can agree that a firm’s ability to survive and prosper depends on choosing and implementing a good strategy, there is less agreement about what constitutes a good strategy (Barney, 2008). However, there seems to be an agreement as to what a strategy really means: a firm’s theory about how to gain competitive advantage. The strategic management process is a sequential set of analyses and choices that can increase the likelihood that a firm will choose a strategy that generates competitive advantage (Hesterly, 2008). The first step is mission (long term purpose) definition, followed by setting of objectives, that is, specific measurable targets that a firm uses to evaluate the extent to which it is realizing its mission. The next phase are the internal and external analyses, where a critical evaluation of the strengths, weaknesses, opportunities and threats is done in regard to both the internal and external environments. Once a firm establishes a sound balance between internal capabilities and weaknesses with external opportunities and threats, the management is in an informed position to select strategies that presents the best way possible to achieve the firm’s objectives. Barney (2008) categorizes strategy choices into business level strategies and corporate level strategies. Business-level strategies are actions a firm takes to gain competitive advantage in a single market and includes cost leadership, differentiation and focus. Corporate level strategies are actions a firm takes to gain competitive advantage in multiple markets and includes vertical integration strategies, strategic alliances, mergers and acquisitions. This study draws its subject on strategic alliances as a corporate-level strategy a firm may choose to achieve its broad objectives. 1. 1. 2 Strategic Alliances A strategic alliance exists whenever two or more independent organizations cooperate in the development, manufacture, or sale of products or services. These alliances can be groped into three broad categories: nonequity alliances, equity alliances, and joint ventures (Barney, 2008). In a nonequity alliance, the cooperative relations are managed through the use of various contracts: licensing agreements, supply agreements, and distribution agreements. For instance, in the banking industry, agent banking falls under distribution agreements since agents are contracted by banks to offer banking services on behalf of the banks (C. G. A. P, 2009). 1. 1. 3 Agent Banking In a growing number of countries, banks and other commercial financial service providers are finding new ways to make money and deliver financial services to unbanked people (Lyman, 2009). Rather than using bank branches and their own field officers, they offer banking and payment services through third parties. For poor people, â€Å"branchless banking† through retail agents may be far more convenient and efficient than going to a bank branch (C. G. A. P, 2009). For many poor customers, it will be the first time they have access to any formal financial services—and formal services are usually significantly safer and cheaper than informal alternatives. Two models of branchless banking through retail agents are emerging: one led by banks, the other by non-bank commercial actors (Lyman, 2009). Both use information and communication technologies, such as cell phones, debit and prepaid cards, and card readers to transmit transaction details from the retail agent or customer to the bank (C. G. A. P, 2009). Branchless banking through retail agents appeals to policymakers and regulators because it has the potential to extend financial services to unbanked and marginalized communities. But it also challenges them to ask: What are the risks of these new approaches, and are they different from those of conventional branch-based banking? How should banks respond to these risks, so as to permit branchless banking with retail agents to operate safely and expand access to finance (C. G. A. P, 2009). Agency banking can be understood by examining the experience of five ioneering countries— Brazil, India, South Africa, the Philippines, and Kenya—where agent-assisted branchless banking that targets poor customers is already a reality (Kumar, 2009). Some models of branchless banking—for example, Internet banking and automatic teller machines (ATMs)—can be seen as modest extensions of conventional branch-based banking. Other models offer a distinct alternative to conventio nal branch-based banking in that customers conduct financial transactions at a whole range of retail agents instead of at bank branches or through bank employees (Staschen, 2009). Agent-assisted branchless banking is relatively new. Among the countries studied, the phenomenon ranges in age from only a few months (in the case of Kenya), to a few years (in the case of Brazil and some services in India). Outside of Brazil and the Philippines, branchless banking through retail agents reaches relatively few customers with a limited range of financial services (C. G. A. P, 2009). As compared with conventional branch-based banking, both models of agent-assisted branchless banking touch on issues that lie at the heart of traditional bank regulation and supervision. One set of issues, common to both models, arises from the outsourcing of substantially all direct customer contact to a potentially infinite array of different types of retail agents (Lyman, 2009). According to F. S. D/Kenya, key issues to be considered are: authorization of agent network managers, establishment of a register of agents, review of agent licensing requirements, competition agent exclusivity, and need for consumer protection arrangements covering agents. Coupled with the risks associated with new operational platforms, these issues are likely to be of major concern to commercial banks and may indeed hamper the implementation of agent banking. 1. 2 Problem Statement In the year 2009, C. B. K became one of the founding members of the Alliance for Financial Inclusion (A. F. I) in September 2009. Through A. F. I, C. B. K conducted a study tour of Brazil and Colombia to gain an understanding of Agent Banking. This model introduced through the Finance Act, 2009 entail the use of third parties by banks to extend their outreach cost effectively. The National Financial Access Survey released in 2009 indicates that 32% of Kenya’s bankable population remains totally excluded from any form of financial services. The Central Bank has therefore continued to promote policy solutions geared towards enhancing financial inclusion, with the introduction of agent banking being one of the initiatives. In a growing number of countries, banks are finding new ways of delivering financial services to unbanked people. The introduction of agent banking is intended to enable institutions to provide banking services in a more cost effective way which is equally cheaper to the customers (C. G. A. P, 2009). It is further intended to enhance financial access especially for those people who are currently unbanked, while giving banks an opportunity to increase their market shares (F. S. D/Kenya, 2009). Despite the strong presence of retail outlets showing interest to work with banks as agents, the adoption of this model is rather slow. Since the coming into operations of the Guidelines on Agent Banking, only six banks have applied to the C. B. K for Agent Network approval (C. B. K, 2010). Of these, only two applications had been granted approval by end of September 2010, while the other four were still in the early stages of review. As at 30th September 2010, CBK had approved 5,892 agents of which 4,392 of these agents are telecom related with 1,500 comprising other types of enterprises. In addition, 66% of the approved agents are in the rural areas while the rest are in urban areas. (C. B. K, 2010). This study therefore seeks to find out the factors influencing the implementation of agent-banking by commercial banks in Kenya. 1. 3 Purpose This study aims at discovering the factors behind the sluggish pace of agent banking implementation in Kenya, with emphasis on the position taken by commercial banks in Kenya towards agent-assisted banking models. The results of the study will include comprehensive recommendations to both commercial banks and the industry regulator on possible strategies of making agent banking, as an alternative service delivery channel, a success in bringing financial services closer to the poor and currently unbanked population. 1. 4 Objectives of the study 1. 4. 1 General objective The general objective of the study is to determine factors influencing the implementation of agent banking in the Kenyan Financial Services Sector. 1. 4. 2 Specific objectives The study aims to achieve the following specific objectives; i. To determine how consumer protection influences the implementation of agent banking by commercial banks in Kenya ii. To determine how laws and regulations influences the implementation of agent banking by commercial banks in Kenya iii. To determine how risk appetite affects the implementation of agent banking by commercial banks in Kenya iv. To find out the effect of overall business strategy on the implementation of agent banking by commercial banks in Kenya. 1. 5 Hypotheses Table 1. 1 Hypotheses sets |Set |H0 |HA | |1 |Consumer protection requirements influence the |Consumer protection requirements have no influence on the | | |implementation of agent banking by commercial banks in |implementation of agent banking by commercial banks in | | |Kenya. Kenya. | |2 |Unfavorable legal and regulatory guidelines on agent |Legal and regulatory guidelines on agent networks have no | | |networks affect the implementation of agent banking by |effect on the implementation of agent banking by commercial | | |commercial banks in Kenya. |banks in Kenya. | |3 |Low risk appetite influences the operationalization of |Low risk appetite has no effect on the operationalization of| | |agent banking by commercial banks in Kenya. |agent banking by commercial banks in Kenya. |4 |Lack of an elaborate business strategy on agent banking|Business s trategies have no effect on the adoption of agent | | |affects the adoption of agent banking models among |banking models among commercial banks in Kenya | | |commercial banks in Kenya | | 1. 6 Scope The study will cover duly registered commercial banks in Kenya, with information being gathered preferably from the headquarters of the institutions. Respondents will be individuals holding managerial position related to retail banking, channels management, risk management and marketing or strategy functions. All aspects of service delivery by third party agents will form the main subject of the study. 1. 7 Significance of the study 1. 7. 1 To regulatory authorities The study will be of major use to the CBK, Central government and other oversight bodies as it will give insights on the unique attributes of the Kenyan banking sector and identification of potential problem areas in the quest of increasing financial inclusion through alternative channels. This will go along pay in guiding policy decisions that can be exploited to make banking services conveniently available all segments of the population. 1. 7. 2 To commercial Banks The study is important to Commercial bank managers since it will help them appreciate the magnitude of potential loss of business opportunities to their competitors due to lack of flexible strategic planning. The report will also produce valuable industry data that can be used by commercial banks to develop comprehensive business strategies on agent banking as key potential problem areas in the banking model will be identified and quantified. . 7. 3 To academicians and researchers The study will be a source of reference material for future researchers on related topics; it will also help other academicians who undertake the same topic in their studies. The study will highlight important relationships that require further research; this may be in the areas of relationships between firm’s performance and delivery channels’ dynamics. 1. 8 Limitations of the study This study will be confined to the headquarters of 12 Commercial Banks in Kenya. The responses given might be inadequate to make generalizations for the whole banking sector. This problem will however be averted by stratifying the population into three categories based on asset book size and market reach, and in line with the classification provided by the industry regulator, followed by random sampling. This will ensure that the sample will indeed be a true representative of the population. 1. 9 Assumptions The study assumes that consumer protection requirements, low risk appetite, cumbersome regulations and restrictive business strategies have a negative influence on the adoption of agent banking models in Kenya. The study further assumes that middle and top level bank managers in the areas of retail banking, marketing, strategy and risk management are conversant with the subject of service delivery through third party agents. 1. 10 Definitions Strategy- a firm’s theory about how to gain competitive advantage Strategic management process – sequential set of analyses and choices that can increase the likelihood that a firm will choose a strategy that generates competitive advantage Strategic alliances – arrangements where two or more independent organizations cooperate in the development, manufacture, or sale of products or services Agent banking – a banking model where commercial banks offer their core services through third party intermediaries Consumer protection – set of guidelines a firm/industry employs to cover its customers from any form of exploitation due to their vulnerable position in a business transaction Risk appetite – the amount of loss a firm is ready to absorb due to risk events Risk – uncertainty in the occurrence of loss or gain Reputation risk – risk of loss resulting from compromised external opinion towards a firm Operational risk – risk of loss resulting from inadequate or failed internal processes, people and systems, or from external events Liquidity risk – risk that an imbalance between cash inflows and outflows will result in insufficient cash reserves to meet all demands of the depositors. Chapter Two Literature Review 2. 0 Introduction This chapter presents the literature review and theories, and conceptual framework adopted in the study of strategic alliances and more specifically, the evolution of agent banking. In addition, an empirical work has been reviewed with the final presentation of conceptual and operational frameworks of the study. 2. 1 Theoretical Literature Review The sections analyses current theories related to strategic management process, strategic choice, strategic alliance threats and opportunities, and their relevance in the agent banking models. Research gaps and theoretical weaknesses have also been identified. 2. 1. 1 Strategic Management Process Although most can agree that a firm’s ability to survive and prosper depends on choosing and implementing a good strategy, there is less agreement about what constitutes a good strategy (Barney, 2008). However, there seems to be an agreement as to what a strategy really means: a firm’s theory about how to gain competitive advantage. The strategic management process is a sequential set of analyses and choices that can increase the likelihood that a firm will choose a strategy that generates competitive advantage (Hesterly, 2008). The first step is mission (long term purpose) definition, followed by setting of objectives, that is, specific measurable targets that a firm uses to evaluate the extent to which it is realizing its mission. The next phase are the internal and external analyses, where a critical evaluation of the strengths, weaknesses, opportunities and threats is done in regard to both the internal and external environments. Once a firm establishes a sound balance between internal capabilities and weaknesses with external opportunities and threats, the management is in an informed position to select strategies that presents the best way possible to achieve the firm’s objectives. Barney (2008) categorizes strategy choices into business level strategies and corporate level strategies. Business-level strategies are actions a firm takes to gain competitive advantage in a single market and includes cost leadership, differentiation and focus. Corporate level strategies are actions a firm takes to gain competitive advantage in multiple markets and includes vertical integration strategies, strategic alliances, mergers and acquisitions. This study draws its subject on strategic alliances as a corporate-level strategy a firm may choose to achieve its broad objectives. One major weakness of this framework is that it presents strategic management in a form of series while in real sense, management decisions are made within a network of closely interwoven and interrelated activities. For instance, S. W. O. T analysis is done at every stage in the strategic management process 2. 1. 2 Strategic Alliances A strategic alliance exists whenever two or more independent organizations cooperate in the development, manufacture, or sale of products or services. These alliances can be groped into three broad categories: nonequity alliances, equity alliances, and joint ventures (Barney, 2008). In a nonequity alliance, cooperating firms agree to work together to develop, manufacture, or sell products or services, but they do not take equity positions in each other or form an independent organizational unit to manage their cooperative efforts. Rather, these cooperative relations are managed through the use of various contracts: licensing agreements, supply agreements, and distribution agreements. For instance, in the banking industry, agent banking falls under distribution agreements as agents are contracted by banks to offer banking services on behalf of the banks (C. G. A. P, 2008). The classification according to Barney (2008) is in agreement with that given by Day (1990) and gives a clear distinction between strategic alliances and mergers and acquisitions. However, other writers have questioned this classification as merger could be indeed be a form of strategic alliances involving capital. 2. 1. 3 Strategic Alliance Opportunities Strategic alliances create value by exploiting opportunities and neutralizing threats facing a firm. Opportunities associated with strategic alliances fall into three large categories. First, these alliances can be used to improve performance of a firm’s current operations. Second, alliances can be used to create a competitive environment favorable to superior firm performance. Finally, they can be used to facilitate a firm’s entry into or exit from new markets or industries (Hesterly, 2008). Indeed, the major reason why most firms cooperate is to increase efficiencies and open more avenues of improving firms’ performance. However, Hesterly (2008) has not clearly whether opportunities of strategic alliances attract firms or it is the business needs that compel firms to initiate alliances in the market. 2. 1. 4 Strategic Alliance Threats Just as there are incentives to cooperate in strategic alliances, there are also incentives to cheat on these cooperative agreements. Indeed, research shows that as many as one-third of all strategic alliances do not meet the expectations of at least one alliance partner (Barney, 2008). In the case of distributor agreements (nonequity alliance), the producers often evaluate the threats of the alliance using a framework of risk. The risk based approach has particularly been adopted in the financial services contracting in countries like Brazil and Mexico. (C. G. A. P, 2006) Hesterly (2008) has highlighted four issues of concern to forming strategic alliances: consumer protection, legal / regulatory implications, competitive networks, Reputational and operational risks. In addition, an organization needs to have an overall business strategy that is open to strategic linkages with other entities. Lyman (2009) has brought these threats into perspective while studying the branchless banking model in Brazil, Kenya and the Philippines. 2. 1. 4. 1 Consumer Protection And Resolution Of Grievances According to Lyman (2009), any of the foregoing categories of risk triggers consumer protection concerns if the resulting loss falls on customers. Use of retail agents may also increase the risk that customers will be unable to understand their rights and press claims when aggrieved. Customers are protected against fraud by laws and regulations in the countries studied. But it is not always clear to customers how they will be protected against fraud when they use retail agents to conduct financial transactions. 2. 1. 4. 2 Legal / Regulatory Risks Since industry regulators have had little experience with agent banking models and are still adjusting existing rules to address them (or had yet to begin this process), some level of legal and regulatory uncertainty and ambiguity for both the banks and nonbanks (and to a lesser extent also for retail agents) has remained. Once a model becomes widely used in a country, these uncertainties and ambiguities could take on a systemic dimension if, for example, several banks with significant operations conducted through retail agents suddenly face an unfavorable interpretation that challenges their authority to transact business through retail agents or the enforceability of related legal agreements (Lyman, 2009) 2. 1. 4. 3 Operational Risk Operational risk refers to potential losses resulting from â€Å"inadequate or failed internal processes, people and systems or from external events. For banks and nonbanks that use retail agents and rely on electronic communications to settle transactions, a variety of potential operational risks arise. For example, customers or retail agents could commit fraud, or a bank’s equipment or other property could be stolen from a retail agent’s premises. Financial loss for banks or nonbanks (and also potentially for customers) can also occur from data leaks or d ata loss from hacker attacks, inadequate physical or electronic security, or poor backup systems (Lyman, 2009). 2. 1. 4. 4 Reputation Risk When retail agents under perform or are robbed, banks’ public image may suffer. Many operational risks mentioned (such as the loss of customer records or the leakage of confidential customer data) also can cause reputational risk, as can liquidity shortfalls in the retail agent’s cash drawer. Moreover, reputation risk can spread from one bank or nonbank to another and take on systemic dimensions (Lyman, 2009) 2. 1. 4. 5 Liquidity Risk Retail agents, especially those that are relatively small, unsophisticated, and remote, may not have enough cash to meet customers’ requests for withdrawals and may lack experience in the more complex liquidity management required for offering financial services. To manage liquidity effectively, retail agents must balance several variables, including turnover of cash, ease of access to the retail agent’s bank account, and processing time of transactions, among others (C. G. A. P, 2008). 2. 1. 4. 6 Business Strategy Although most can agree that a firm’s ability to survive and prosper depends on choosing and implementing a good strategy, there is less agreement about what constitutes a good strategy (Barney, 2008). According to Aaker (1998), t is usually very difficult to predict how competition in an industry will evolve, and so it is rarely possible to know for sure that a firm is choosing the right strategy and this is why a firm’s strategy is almost always a theory. However, this theory sets the tone at which competition evolution is handled in the future. For a firm to make the choice of making strategic alliances, the overall business strategy must be open to the formation of strategic linkages with other entities. This fact has been acknowledged by the Central Bank of Kenya which has directed that for any commercial bank to be allowed to offer services through third party agents, it must have an elaborate business strategy on agent banking (CBK guidelines on Agent Banking, 2010). In summary, the classification of threats in agent banking models as given by Lyman (2009) appears to be widely accepted by industry players as the framework was drawn from case studies done in the banking industry in the pioneering countries. However, the framework fails to suggest possible avenues of avoiding or at least neutralizing these threats to be used as a guideline by financial institutions which are interested in agent banking models. More research is indeed required to meet this gap if agency banking is to be the new frontier of increasing financial inclusion. 2. 2 Empirical Review The concept of agent banking has only taken momentum in the twenty first century, with Brazil being a success story of branch-less banking. Other countries where the banking approach has been implemented are South Africa, India, Mexico, Kenya and the Philippines. In Kenya, the idea of agent banking evolved from the innovations of the mobile telecommunications company, Safaricom Ltd, with its innovative and transformative money transfer service, ‘M-PESA’. In 2009, the Banking Act was amended to allow commercial banks use agents in their outreach to extend the formal financial services access frontier. Three organizations have been instrumental in studying agent banking models and their contribution to the universal goal of raising financial inclusion among the poor. These organizations are F. S. D/K (Financial Sector Deepening, Kenya), C. B. K (Central Bank of Kenya) and C. G. A. P (Consultative Group to Assist the Poor). In an effort to promote financial access by the majority of Kenyans, the Central Bank and the banking sector continued with initiatives to put in place a credit information sharing mechanism which would enable individuals to use their information capital as â€Å"collateral† to access bank services. Further, the amendment of the Banking Act to permit banks to use agents in their outreach would also extend the formal financial services access frontier. In 2009, banks pursued revenue growth strategies based on their ability to acquire new customers and cross-selling more products and services to existing customers by leveraging on technology (C. B. K, 2010). In a growing number of countries, banks and other financial service providers are finding new ways to make money and deliver financial services to unbanked people (C. G. A. P, 2009). Rather than using bank branches and their own field officers, they offer banking and payment services through third parties. For many poor customers, it would be the first time they have access to any formal financial services—and formal services were usually significantly safer and cheaper than informal alternatives. Two models of branchless banking through retail agents have emerged: one led by banks, the other by non-bank commercial actors (Lyman, 2009). Both use information and communication technologies, such as cell phones, debit and prepaid cards, and card readers to transmit transaction details from the retail agent or customer to the bank (C. G. A. P, 2009). For example, customers of Caixa Economica Federal, a Brazilian state-owned bank, could open and deposit money in a current account, make person-to-person transfers, and get loans—all using simple bankcards and card readers at over 12,000 lottery outlets, supermarkets, and even butcher shops (Lyman, 2009). In Kenya Customers could use their phone to send and receive â€Å"M-PESA,† make payments to other people and shops, and store money for future use (F. S. D/K, 2010). Branchless banking through retail agents appeals to policymakers and regulators because it has the potential to extend financial services to unbanked and marginalized communities. But it also challenges them to ask: What are the risks of these new approaches, and are they different from those of conventional branch-based banking? How should banks respond to these risks (C. G. A. P, 2009) F. S. D/Kenya and C. G. A. P have done immense research and advocacy on agent banking. Agency banking can be understood by examining the experience of five pioneering countries— Brazil, India, South Africa, the Philippines, and Kenya—where agent-assisted branchless banking that targets poor customers is already a reality (Kumar, 2009). Branchless banking represents a new distribution channel that allows financial institutions and other commercial actors to offer financial services outside traditional bank premises. Lyman (2009) has outlined two models of agent banking. One model of branchless banking—for example, Internet banking and automatic teller machines (ATMs)—can be seen as modest extensions of conventional branch-based banking. Other models offer a distinct alternative to conventional branch-based banking in that customers conduct financial transactions at a whole range of retail agents instead of at bank branches or through bank employees (C. G. A. P, 2009). This concept has introduced new risks and other regulatory issues in the industry. For regulators, the task is not to try to eliminate these risks, but to balance them appropriately with the benefits of branchless banking—including expanded outreach of financial services. Of the countries so far studied, Kenya may best reflect the situation of most developing and transition countries (F. S. D Kenya, 2010). Policymakers and regulators have greeted branchless banking with a mixture of great enthusiasm for its potential to expand access and real concern about new risks for vulnerable customers and the financial system. The case for accepting bank agents in Kenya has already been accepted by policy makers and regulators in Kenya; the question is how to regulate and supervise this (FSD Kenya. 2010). In addition, it is left to the individual banks to decide whether they will use the model to meet their strategic objectives. The Central Bank of Kenya has indeed placed a requirement for an elaborate business strategy on agent banking before any approval is given for agent networks. Section 2. 3. 2. f CBK guidelines on agent banking approval requires the applying institution to have a delivery channel strategy and how agents fit in the strategy, feasibility study of the global view of future operations and development of the agent business for a minimum period of three years and a business strategy for agent banking (C. B. K, 2010). According to FSD-Kenya, key issues to be considered are: review of agent licensing requirements, risk management, and need for consumer protection arrangements covering agent s. These issues are likely to be of major concern to commercial banks and may indeed hamper the implementation of agent banking. The threats associated with agent banking have not gone unnoticed. Indeed most commercial banks are taking a rather conservative position regarding the implementation of agent banking model. Like F. S. D/K, C. G. A. P (2009), has identified three issues that agent banking, as a strategic alliance orientation, poses to both the regulator and the market players: reputational and operational risks, consumer protection, regulatory framework and business strategies at the institutional level. On its part, C. B. K has alluded that any bank wishing to operate through agents must have an elaborate business strategy on agent banking before any approval is given. 2. 3. 1 Conceptual Framework [pic] Independent Variables Dependent Variable Figure 2. 1: Conceptual framework Source: (Author, 2010) 2. 3. 2. Operational Framework: [pic] Dependent variable Independent variables Parameters Figure 2. 2: Operational framework Source: (Author, 2010) Chapter Three Research Methodology 3. 0 Introduction This chapter presents the methodology that will be used to carry out this study. Research methodology is defined as an operational framework within which the facts are placed so that their meaning may be seen more clearly. The task that follows the definition of the research problem is the preparation of the design. The methodology of this research includes the research design, population to be studied and sampling strategy, the data collection process, the instruments to be used for gathering data, and how data will be analyzed and presented. 3. 1 Research Design In this study a survey design will be used. This research problem can best be studied through the use of a survey. This method portrays an accurate profile of persons, events, or situations. Surveys allow the collection of large amount of data from a sizable population in a highly economical way. It allows one to collect quantitative data, which can be analyzed quantitatively using descriptive and/or inferential statistics. 3. 2 Population The population of study will consist of 46 commercial banks in Kenya. Target population in statistics is the specific population about which information is desired. A population is a well defined set of people, services, elements, and events, group of things or households that are being investigated. This definition ensures that population of interest is homogeneous. Population studies, also called census are more representative because everyone has equal chance to be included in the final sample that is drawn. The target population of this study will be all the 46 commercial banks in Kenya registered under the banking act. The study will focus on the headquarters of the banks, especially risk, marketing, strategy and retail divisions since they are the most conversant with the strategic directions of the banks in regard to the subject of the study. Table 3. 1 Target Population Class |Net Assets |Population |Percentage % | | |(‘000,000’ KES) |(Frequency) | | |Large Banks | 15,000 |19 |42 | |Medium Banks |5,000 – 14,999 |14 |32 | |Small Banks | 5,000 |12 |26 | |Total | |45 |100 | Source: (C. B. K, 2010) 3. 3 Sample size The sample size in this study will consist of 12 commercial banks in Kenya. The researcher will involve the marketing managers, retail banking managers, and risk/compliance managers (preferably two managers from each of the mentioned functional areas) from each bank. This means that the total respondents in this study will be 72 in number. 3. 4 Sampling technique The researcher will use stratified random sampling to select 12 commercial banks out of 46 banks. The researcher will in this case consider all the commercial banks and choose 12 of them in a manner that will make the sample a true representative of the population. The population will be stratified into three categories according to the market shares and in line with the CBK classification of financial institutions. In each class, the researcher will select a random sample so that each item in the population has the same probability of being selected as part of the sample as any other item. Table 3. 2: Sample size Classes |Respondents |Target Population (2/Bank)|Sample size (2 |percentage | | | | |respondents * 4 | | | | | |banks per class) | | |Large |Marketing/strategy Managers |38 |8 |21% | | |Retail-Banking Managers |38 |8 |21% | | |Risk/Compliance managers |38 |8 |21% | |Medium |Mar keting/strategy Managers |28 |8 |28% | | |Retail-Banking Managers |28 |8 |28% | | |Risk/Compliance managers |28 |8 |28% | |Small |Marketing/strategy Managers |24 |8 |33% | | |Retail-Banking Managers |24 |8 |33% | | |Risk/Compliance managers |24 |8 |33% | Source:(Author, 2010. ) 3. 5Instruments. The researcher will use primary data (questionnaires) to carry out the study. The questionnaires will include structured (close-ended) and unstructured (open-ended) questions. The structured questions will be used in an effort to conserve time and money as well as to facilitate in easier analysis as they are in immediate usable form; while the unstructured questions will be used so as to encourage the respondent to give an in-depth and felt response without feeling held back in revealing any information. With unstructured questions, a respondent’s response may give an insight to his feelings, background, hidden motivation, interests and decisions and give as much information as possible without holding back. 3. 6 Validity and Reliability The questionnaires to be used are estimated to be reliable as sets of questions measuring a single concept have been groped together, resulting in a high degree of internal consistency. In addition, the instruments will be subjected to a test-retest procedure before being distributed to the main respondents. The variables have been operationalized into parameters that represent issues which are handled on a day to day basis under normal business activities in the industry being studied. Besides, the selected respondents have been drawn from personalities with knowledge, experience and influence on matters forming the subject. This will ensure that the instrument actually measures the true situation, opinions and predictions on agent banking in Kenya. A survey designed will be used in this study because of its strength associated with collecting data in a real life situation. In addition, the sampling technique (random stratified) and the proposition of drawing respondents from relevant divisions in the head offices of commercial banks will increase the external validity as the results could be generalized to the entire banking sector in Kenya. 3. Data Collection Data will be collected using the drop and pick method. The method is deemed appropriate as all respondents are expected to be found within a small geographical area, that is, the city of Nairobi. This is coupled by the possibility of face to face interaction with the respondents which is likely to increase t he response rate. 3. 8 Data Processing and Analysis Once the completed questionnaires have been received, the raw data will be edited to ensure accuracy, completeness and consistency as well as identifying cases where a respondent may give more than one response in a question that would otherwise generate a single answer. A codebook of questionnaire items will then be developed and used to enter responses into a computer spreadsheet which would then be imported by S. P. S. S. Data will be analyzed using a multiple regression model. This will enable the researcher to make possible predictions about the study. A multivariate regression model will be applied to determine the relative importance of each of the three variables with respect to the implementation of agent banking by commercial banks in Kenya. The regression model will be as follows: y = ? 0+ ? 1X1 + ? 2X2 + ? 3X3 + ? 4X4 + ? Where: Y = Implementation of agent banking ?0 = Constant Term ?1, ? 2, ? 3, ? 4 = Regression coefficients associated with consumer protection, risk appetite, laws regulations and restrictive business strategy respectively X1= consumer protection X2= risk appetite X3= laws and regulations X4= Restrictive Business strategy. 3. 9 Presentation of Findings The findings will be presented using tables and charts. Tables will be used to summarize responses for further analysis and facilitate comparison. This will generate quantitative reports through tabulations, percentages, and measures of central tendency. Cooper and Schindler (2003) notes that the use of percentages is important for two reasons; first they simplify data by reducing all the numbers to range between 0 and 100. Second, they translate the data into standard form with a base of 100 for relative comparisons. References Aaker, D. (1998), Strategic Market Management, Chichester, Wiley. Voll 13 pp 14 – 26 Achrol, R. S. and Kotler, P. (1999), â€Å"Marketing in a networked economy†, Journal of Marketing, (special issue). Aliouat, Boualem. (2006). â€Å"Effects of change paradigms on strategic Alliance† Montreal: pp, 26 – 84. Barney, J. B. and Hesterly, W. S. (2008), â€Å"Strategic Management and Competitive Advantage†. New Jersy, Prentice-Hall. Banking in Brazil. † World Bank Working Paper No. 85. Washington, D. C. : World Bank. http://siteresources. worldbank. org/inttopconf3/resources/363980retail0p101official0use0only1. pdf. Bengtsson, Maria Kock, Soren. (2000). Competition in Business Networks- to cooperate and compete simultaneously†. Industrial Marketing Management Vol. 29 No. 5 pp. 411-426. Elsevier Science. Calori, R. et al. (1989). Strategic Action. Paris: Organisation Editions. Cravens, D. W. (1998), â€Å"Examining the impact of ma rket-based strategy paradigms on marketing strategy†, Journal of Strategic Marketing. Vol. 45 No. 11 pp. 312-367. Central Bank of Kenya. (2009). Banking Supervision Annual Report, 2009: http://www. centralbank. go. ke/downloads/acts_publications/banking supervisionannualreport_2009. pdf Central Bank of Kenya. (2010). Banking Supervision Quarterly Repor, third quartert, 2010http://www. centralbank. go. e/downloads/acts_publications/banking supervisionthirdquarterreport_2010. pdf Central Bank of Kenya. (2010). Guidelines on Agent Banking, 2010 : http://www. centralbank. go. ke/downloads/acts_publications/banking agentbankingguidelines_2010. pdf Consultative Group to Assist the Poor (CGAP). (2009). Financial Access: Measuring Access to Financial Services around the World. http://www. cgap. org/financialindicators. Davis, S. M. (1984), Managing Corporate Culture, Cambridge, MA Ballinger Publishing Company. Vol. 15 No. 11. Day, G. S. (1990), Market Driven Strategy: Processes for Cr eating Value, The Free Press, New York, NY. The Free Press. Voll 9 No 2 Doyle, P. 1998), Marketing Management and Strategy, London Prentice-Hall Europe, Hemel Hempstead. Voll. 13 pp 42 – 48 Drew, S. A. W. (2001), â€Å"What really drives a fast company? †, Journal of Management. Vol. 65 No. 79 pp. 651-926. Elsevier Science. Financial Sector Deepening, Kenya. (2010). Regulation and Supervision of Bank Channels: Policy Options for Kenya : http://www. fsdk. com/downloads/acts_publications/ Regulation and Supervision of Bank Channels,2010. pdf Hax, A. C. and Wilde, D. L. (2001), The Delta Project: Discovering New Sources of Profitability in a Networked Economy, Palgrave, Basingstoke. Vol. 10 No. 2, pp. 4-14. Johnson, G. and Scholes, K. (1997), Exploring Corporate Strategy, Prentice-Hall Europe, Hemel Hempstead. Vol. 7 No. 6, pp. 343-56. Lyman, Staschen, Kumar, Anjali, Ajai Nair, Adam Parsons, and Eduardo Urdapilleta. 2008. â€Å"Expanding Bank Outreach through Retail Partnerships: Correspondent Mas, Ignacio Hannah Siedek. (2009). .Banking through networks of agents CGAP Focus Note 47. Ndungu, N. (2010). Banking Supervision Annual Report, CBK Focus Note 2009. Porter, M. (1980), Competitive Strategy: Techniques for Analyzing Industries and Competitors, The Free Press, New York, NY. Pp 26 – 31 Porter, M. (1985), Competitive Advantage: Creating and Sustaining Superior Performance, The Free Press, New York, NY. Pp 46 – 53 Slater, S. F. nd Narver, J. C. (1998), â€Å"Customer-led and market-oriented: let’s not confuse the two†, Strategic Management Journal. Vol. 59, July, pp. 63-74 ———————– Consumer protection Regulatory issues Risk appetite Business strategy Agent Banking Implementation Grievance Handling Information Confidentiality Fraud employee theft Reputational risk Operational risk Liquidity Risk Agent Registration Agent control monitoring Conflict resolution Channel strategy Feasibility studies Technical Expertise Consumer Protection Risk Appetite Laws Regulations Restrictive ’e†#(2CUVCO business strategy Agent Banking Implementation (Number of banks) How to cite An Investigation Into the Factors Influencing the Implementation, Essay examples

Israel Exile Period Essays - Bible, Religion, Protocanonical Books

Israel Exile Period In 586 B.C.E. the neo-Babylonian armies of Nebuchadnezzar raided and destroyed the city of Jerusalem, forcing its people to flee. The majority of the Judean leaders and aristocracy were relocated in Babylon, and lived in relative isolation from even their captors. The Exile robbed them of their wealth, their homes, their nation, and even their king; religion offered the only seed of identity for this uprooted people. So it was during this time of Exile that a flourishing of religious texts were written and compiled, in an attempt to explain the causes of their misfortune, and enable the people to comprehend their suffering (Meyers, Haggai xxxviii). In general, the Psalter reflects the true emotions of the ancient Israelites, more so than do most Biblical texts, as it is a compilation of their "troubles and fears, their hopes, aspirations, and reasons for confidence." (Metzger and Murphy 674 OT) In Psalm 137, an Exilic text, a wide range of emotions are shown: longing and mourning for their lost nation (Ps 137:1-3), the sadness and confusion they felt while in the foreign land (Ps 137:4-6), and even the desire for a violent revenge (Ps 137:7-9). The same range of emotions can be seen in Second Isaiah, though this work was written "immediately before the fall of Babylon (October 29, 539B.C.E.)" and displays more of the Judeans thoughts on their future. It is a compilation of passages of hope, promises of God to fulfill His covenant, and threats of violence for the unbelievers. The majority of the Exilic and Post-Exilic texts call for a bloody and merciless revenge on their captors, and it would be easy to assign this outlook for all of the Jewish people of the time. Upon close inspection however, it becomes apparent that not all Jews cared about a bloody justice, and that some just wanted to go home and be done with it. Both of these views, (both bloody and not), are found in Isaiah 42 and the proximity of the conflicting persuasions highlight their differences. In Isaiah 42:3, a pacifistic, reserved justice is called for; "a bruised reed he will not break, and a dimly burning wick he will not quench: he will faithfully bring forth justice." Yet in just a few stanzas later, there is a call for blood. "The Lord goes forth like a soldier, like a warrior he stirs up his fury; he cries out, he shouts aloud, he shows himself mighty against his foes." (Isaiah 42:13) By comparing these two quotes, it becomes readily apparent that the idea that all Judeans wanted a violent revenge must be thrown out. While in Exile, the Jewish people held many expectations of their future, not all of which agreed with one another, nor were fulfilled. Returning to the Promised Land was the main focus of Exile, and it evolved into a paradise of sorts, where everything would be perfect. There are visions of God blessing the people restored in their land, and their work being more than fruitful throughout the Exilic texts. "For I will pour water on the thirsty land, and streams on the dry ground; I will pour my spirit upon your descendants, and my blessing on your offspring." (Isaiah 43:3) Haggai, a text written after Cyrus' overthrow of the Babylonians, depicts a much different scene than the one envisioned in Isaiah. (Metzger and Murphy 1217 OT) "Therefore the heavens above you have withheld dew, and the earth has withheld its produce. And I have called for a drought on the land and the hills, on the grain, the new wine, the oil, on what the soil produced, on human beings and animals, and on all their labors." (Hag 1:10-11) This quote describes a state of affairs far different than what the Israelite people imagined their future to be. The Jewish people, besides depicting a skewed view of their future, also disagreed on how that future should be run. While in Exile they were not allowed to have a king for obvious reasons, and due to this power vacuum, the priest was raised in status (Meyers and Meyers, Zechariah 169). Despite the fact that Haggai and Zechariah were contemporaries, and even cohorts, they did not agree on the place of the priest once a king had been restored (Metzger and Murphy 1217OT). Throughout the book of Haggai, the prophet shares all of his visions with both the governor and the high priest, except for his very last oracle. In this oracle, he prophesies the rise of the Jewish king, and