A Case Study Of Barclays Bank Marketing Essay

A Case Study Of Barclays Bank Marketing Essay Marketing is the process of planning and executing the developing, pricing, promotion and distribution of good and services to satisfy individuals needs and organisational goals. This simply means that marketing deals with general public by identifying their needs and wants through the research process to anticipate the future to make such a product that satisfies the required needs and generate reasonable profit for the organisation. During the past banking era their was no need of marketing strategies which include creativity, innovation, customer relations, public relations, promotions and marketing research. Businesses operates in such a market where little or no attempt was made to care much about customers needs, however products are sold as a result of less availability of substitute goods. But in the recent years banking industry has been evolved by the intense competition, due to the deregulation in the financial system of the economies. Banks realised the role of marketing in understanding needs of individuals and provision of the services accordingly. In todays competitive world where every one wants to get value for their hard earned money Banks has recognised that marketing is the only tool towards the sustainable life of banking system. Keeping in mind the customers sovereignty more attention has now been given to the consumers. This situation creates more need for adopting various marketing strategies to satisfy customers. To create a good impression with the use of marketing strategies, variety of promotional activities have to be inculcated in banking system, to get customers attention, to prompt advertisement and public relations to induce the interest of the public. Generally provided services by the banks to the customers are in the form of depositing money and then subsequent credit to the customers account, provision of loans, factoring services to companies, overdraft facilities and advances to the clients. In conclusion, now banks have to do more emphasis on marketing strategies in Oder to fulfil their obligations towards, customers, public, shareholders, stakeholders, employees, and the whole nation in general. PART 1 Project objectives and overall research approach Background of the Company: Barclays is one of the major and world wide famous global financial service providers, founded in 1690, headquartered in London, United Kingdom. Its is a universal bank which is engaged in retail and commercial banking, debit cards, credit cards, investment banking, investment and wealth management, and corporate banking etc with more then 300 years expertise in banking Barclays have extensive existence in more then 50 territories including Europe, Asia, America and Africa and have more the 48 million customers. In 2008 Barclays has signed an agreement to purchase the investment-banking and trade divisions of Lehman Brothers, a United States financial Institute who got bankrupt. In that deal Barclays acquired the headquarter building of Lehman Brothers bases in New York. Reports show that in 2009 the UK government offered to inject  £40  billion (US$69  billion) into three banks including Barclays, which may look for over  £7  billion. Barclays later confirmed that it refused that offer and raised  £6.5  billion of new resources ( £2  billion by annulment of dividend and  £4.5  billion from private investors). Barclays has developed very advanced and extremely diverse portfolio of financial services in the provision of services to customers in managing their money in such a way that benefits them most. Barclays bank operates within two business clusters: Corporate and Investment Banking and Wealth and Investment Management; and Retail and Business Banking. An overview of financial services provided by Barclays bank includes: World wide banking Barclays card Barclays Capital Barclays Wealth Retail banking and commercial banking Global Investors Strategic Overview of Barclays: The ambition of Barclays bank is to become the leading global financial service provider of all universal banks. By this statement means providing a wide range of retail and commercial services to consumers throughout the world. Barclays Strategies follows a simple principle: fulfilling needs of its customers, by providing excellent customer service and helping them in achieving their goals. Barclays bank has a clear overview of the growth sources in financial service industry, to align them in terms of capability to capture the opportunities arose from the investment trends. Organisational Structure of Barclays: Sir David Walker is the Group Chairman who joined the board in 2012, and Antony Jenkins is the Group Chief Executive since 2009. The topic selected and its context: The topic selected for the Research and Analysis Project is about the marketing strategies of an organisation and its effectiveness. Barclays bank has been chosen for the Research and Analysis Project in the context of An evaluative report on Barclays bank to overview its marketing strategies and in depth analysis of their effectiveness. Reasons for selecting this topic: Marketing concept is the business philosophy that states that customers want and satisfaction is the economic and social justification for a firms existence. Once a service has been offered with specific distinctive features customer appeal, the customer is prepared to buy the service/product and switch from other providers to the one with the appeal. By focusing on that philosophy following are the reasons of selecting this topic. As an student I get the opportunity to explore more about the marketing strategies of world re-known organisation especially while studying the topic in preparing towards exam, where this topic was briefly discussed I have sufficient knowledge to determine the business strategies used and figure out its effectiveness in the growth and profitability of the organisation. Instead of this point can we add below point Can we say My studies in the areas of Accounting and Finance and business and management work experience advantaged me with good business and management knowledge which certainly help me to devise business strategies and evaluate their contribution towards the growth and profitability of the organisation however the research will develop my knowledge and understanding about the use and effectiveness of marketing strategies in the perspective of financial institutions which are normally not associated with marketing area. The marketing strategy of an organisation and its effectiveness is not only the vital part of syllabus, but also advocates the organisation to satisfy customers needs rather then to persuade the customer to buy what they provide. (Link Marketing and Finance such as Marketing attract customers and make sales happen which eventually generates finance therefore Being in the area of Accounting and Finance it is important to have good knowledge about Marketing in order to manage and predict companies financial position accurately. ) Adopt the red highlighted area if you consider it appropriate. To evaluate the marketing strategies of an organisation and measuring its effectiveness, both business and financial analysis are very important. Financial analysis only tells how a business is doing and its financial position and business analysis explains the businesss strategy about how the business has gained such a financial position. So the combination of both analyses is the best way to analyse the businesss position. 1.3 Project objectives To analyse the marketing strategies of Barclays bank and forming an in-depth discussion of how these are directly related to the revenue, profits, customers satisfaction, losses, controvercies, cash balances, and stock prices of Barclays plc. To evaluate the factor s that lead to the direct effect on growth rate of the Barclays plc. To ascertain the macroeconomic as well as microeconomic factors those affect the financial performance of Barclays plc. To understand the global trends and fashions adopted in the industry as well as viewing the Barclays as playing a key role in global aviation industry. Observation of the effects of modern technology on the performance of Barclays on financial and economic grounds. 1.4 Question Selected for Research: In the history of banks failure and as a result its impact on the overall economy are the reasons why banks are unable to fulfil their obligations towards their employees, customers, shareholders and stakeholders. Financial service industry has lost the confidence reposed on them by the customers because of the incompetent service, impersonal treatment and inability to satisfy the effective demand of the community for bank services. All these result in customers dissatisfaction and disgust. In reaction, the success of the financial service industry depends largely on the application of marketing techniques in their day to day operations in meeting the challenge of competitive business environment. Since competition was more or less unknown in the immediate past banking era there was a little or no need for marketing strategies which include innovation into consumers needs and wants through marketing research, new service development, public relations and sales promotions. Banks then concentrated mainly on the advertising as their only marketing strategy. In pursuing this research endeavour, the researcher has focused on the marketing strategies which play an important role in competing in the market place to adopt the marketing concept towards achieving aims and objectives of Barclays plc. 1.5 Rationale of the Research With the help of this research, the researcher tried to explore the strategies that lie within the organisation. By focussing on the Barclays plc, the researcher has tried to bring out the benefits of marketing techniques adopted which helped them being one of the re known bank of the world. Thus, this research can really prove to be beneficial as it has highlighted the effectiveness in terms of customer satisfaction towards Barclays plc. 1.6 Methodology used for Research: An organized effort ensures profiting results. Therefore, a well-planned and organized research effort promises worthwhile outcomes. Research Methodology is basically à ¢Ã¢â€š ¬Ã‚ ¦the manner in which we attempt to solve problems in a systematic effort to push back the frontier of human ignorance or to confirm the validity of the solutions to problems others have presumably resolved (Leedy, 1985). This gets the researchers involved into the decisions of the technical and practical considerations regarding the particular research endeavour. Mouton and Marais (1988) regards it à ¢Ã¢â€š ¬Ã‚ ¦the logic of the application of scientific methods to the investigation of phenomenonà ¢Ã¢â€š ¬Ã‚ ¦the logic of the decision making process in scientific research. In short, the research methodology is a decisive outline of the intended study, its philosophy, design or, the techniques and the tools that are to be used to collect and analyse the primary data, the sampling from the population, and the contemplation for the reliability, validity and ethical considerations. It also includes how the researcher is going to present t he data in the easily comprehendible manner. All these things compliment the research topic chosen and opted for (Goddard, 2004). It is the concern for the researcher to get an effective and reliable data for research work. In this regards both primary data and secondary data has been used. It was observed by the researcher that only single method employed may not be enough for res I used various methods to collect data and information which was required for the research project. The worthiest way was the meeting with the financial director which answered most of my research questions to achieve the research objective and it also helped me to understand the business objective of the company. I did a lot of search through internet search engines to analyze and interpret my research questions and without this I wouldnt have been able to achieve my objective. Comment: This section informs what research methodology is but does not tell us what methodology has been adopted whether research will be carried out through quantitative, qualitative or mixed methods. Please specify that you justify why a particular methodology will be adopted. PART 2 Information gathering and accounting/business techniques For the information gathering different approached has been used for the research and analysis project: see my comment highlighted in blue in 2.2. Internet is one of the main secondary sources of quick information and research, which has been widely, is used in doing this project. It took considerable time to separate the related data from the information available. I also used the companys website for collection of information where most of information was available. Further information was also collected regarding marketing policies and strategies, ethical issues and their impact on the business and economy. ACCA Professional level Manuals, namely P1 (Professional Accountant) and P3 (Business Analysis) also helped in my understanding of ethical issues and their impact on the business. Conventional library research: soon after choosing the topic for my research and analysis, I started to read relevant reports from different books, in articles published in business magazines and journals and existing reports on the company. All research was carried out in libraries across London such as British Library, City Business Library, and Ilford Central library London, This process enabled me to gather and analyses the information relating to Barclays plc. Questionnaires for getting the general views and opinions of the general public has been used as primary source of information, which is more reliable as research has put a lot of effort to administer them as accurate as possible to get best outcome, which could justify with the project as well as could be helpful for Barclays in future. 2.2 Methodology used to collect information Based on the Research and Analysis project objectives of the research primary and secondary data collection techniques, a questionnaire will be formed in order to collect the primary data for this research project. Comment: This statement should be presented in the beginning of Part 2 of your report above. You have to elaborate the Primary and Secondary sources that what techniques will be applied for primary and secondary data. (Merge this section with above and explain primary and secondary sources separately. You gain need to make sure it links with your chosen research methodology (qualitative, quantitative or mixed methods). 2.3 The limitations of information gathering Although there was a huge sum of information available about marketing techniques, the objective of researcher was to only gather information related to the service industry. While collecting the data some limitations was considered: Most of the information researcher has used to produce this repost is collected from the books, questionaries and internet Researcher focused on using of secondary data for project which was conveniently available and reliable but some problems with secondary data included: Data out of date Incomplete Data Format incompatible for peers comparative information Data inaccessible / not presented in useful form Sometimes the information about the current marketing techniques which are highly sensitive for any company was not readily available and it appeared to be very difficult to arrange a meeting with the management of company. At times, some information may have characteristically been overlooked due to human error which may have not resulted in the desired results in information gathering. Some of the information required specialist knowledge to understand and may be difficult for public to understand. The management of the most of the organization is reluctant to provide any information which is publicly not available. So I have to rely on the data which is publicly available through different sources. Another problem with information gathering was that organizations normally never publish information which could have an adverse impact on their image. In view of this, I gathered the information from secondary sources although it may have proved relatively less reliable and fair. 2.4 Ethical issues arose during information gathering and their solutions Some of the ethical issues arose in information gathering processes are: I got some of the information from different articles which were published about Barclays plc. The ethical issues to look out for in the articles were any possible examples of potentially misleading advertisements, or complaints of customers. Most of the information collect and utilized by the researcher used in report is unbiased. Researcher did not get any information or feedback of questions which could have been ethically wrong. Researcher has tried to get feedback and opinion from the public through questionnaires but some members of the public were reluctant to give their views, although some were not aware of the terminology. Researcher has tried to gather information from individuals who could have had an influence in the economic forums / discussions / financial industry and marketing managers of financial service providers about marketing strategies; however they appeared to be more concerned about economic wealth and companys individuality. Researcher of the project tried to gather some of information from staff members of the company, based at Barclays plc. Main branch in, London but that was very hard to approach them regarding the topic chosen for the research and analysis project. 2.5 The accounting/business techniques used and their limitations I used internet search engines Google search. I found Google search to be a very good tool to get answers from different websites. It returned relevant web results to my search queries and directed me to various websites, newspapers and books. And I also put my questions on Yahoo Answers and got different answers from different panels. This was very useful tool as it helped me a lot on different occasions. I used MS Excel to create a questionnaire in the form of a check list, and marked relevant boxes with (Æ’-) or ( ´) depending on my findings. The sheet can be seen in Appendix 1. For this information I visited the companys websites for both Barclays plc. And read all information which provided answers to the questionnaire prepared in the Excel sheet. Graphical presentation of data obtained from the questionnaires of the general opinion of the public has been which helped me understand the strategic view point about marketing and customers thinking and approach of banks and financial services. It also indicated how the banks plan to achieve their targets by operational efficiency and new technology. PART 3 Results, analysis, conclusions and recommendations 3.1 The United Kingdom Financial System: It is very difficult to highlight the importance of banks in todays economic system to have a good relationship between banks and other sectors of the economy. This is because of the crucial role that banks plays in an economys financial system. According to Adam Smith in 1934 the banking system was one of the key agents in the whole process of development. Banks speed up the process of economic development by mobilizing the available resource and making more funds for them as well as for economy. Financial system stability assessment, prepared by the Monetary and Exchange affairs and the European I Departments, Approved by Stefan Ingves Micheal Deppler Feburary 7, 2003. This financial system stability assessment (FSSA) is based on work of an IMF mission that visited United Kingdom (UK) as part of financial sector assessment programme (FSAP) in February, May and July, 2002. In addition, mission members visited supervisors in New York and Germany to discuss cross border supervision related issues related to the UK, and undertook work related to global market in London during an international Capital Markets Department mission in there March 2002. Follow up discussions on the FSAP findings took place from November 21-27. 2002 in the context of the 2002 Article IV consultation. Potential risks for the UK banking system arise from both domestic and International sources. Slower than envisaged recovery in global demand or further declines in global equity prices are the major risks for UK banking system. On the domestic side, high household and corporate debt levels have so far been offset by effects on servicing capacity of low interests rates and a relatively mild slowdown in activity in late 2001 and early 2002. However, risk to the financial system could arise from deteriorating domestic economic conditions, rising unemployment, or higher interest rates than currently expected, especially if these are accompanied by significant declines in property prices from their current high levels. These factors also need to be seen against the trend towards some narrowing in profit margins at least among the bigger banks, due in part to continuing competitive pressures, regulatory pressures to limits some service fees, and rising loan loss provisions. 3.2 The Market Concept and Service Marketing: The growth of services industry is not only because of marketing development but due to economic growth and advanced standards of living. Initially service sector of the economy is not marketing oriented. Marketing factor has been ignored and lagged behind as compared to the product sector of the economies. And generally been slow in promotional activities, strategies and marketing techniques. By the research on this project few reasons for the lacking of marketing in service industry could be identified. Services are intangible and hence create difficult marketing challenges for service industry. Services providers such as in banks think themselves as a creator rather than as a marketer of financial services. They emphasise to equate marketing with selling and they fail to consider other part of the marketing system. Now most of the successful banks adopted advanced marketing strategies in order to achieve their objectives, as from the past experiences it has been noticed that marketing in both sectors is very crucial. Now we can see the established marketing function, and research in marketing and development is emphasised. 3.3 Features of Financial Services: Specific nature of financial service creates specific marketing challenges and opportunities. These results in strategic marketing programs which are generally different from product marketing. Some of the important features of financial services are: Intangibility Heterogeneity Fluctuating Demand Inseparability Barclays Marketing definition is Marketing stretches you right from the beginning of a marketing process to launch. (Robin Martin, 2011 Future Leader Marketing and Products) 3.4 Evaluation of services provided by Banks: Banks are doing lot of effort to attract retail businesses as well as individuals. For the customers continence banks credit cards have been introduced. More advanced and upgraded services such as insurance policies, monthly bills payments methods, personal financial help, 24 hour money withdrawal facilities and e banking have been launched. Some of the highlighted services of banks for individuals, and business customers are: Debit cards Cash dispenser and automated teller machine Investment management Safe custody and safe deposit Finance provision for businesses Money transfer facilities Insurance policies Advisory services. 3.5 Marketing Processes: As it is obvious that customers are central to the marketing so banks or any financial institutes have to do continuous research to identify and respond to the needs of the customers profitability. In the marketing process starting point is to recognise the individuality and recognising their importance, which they differ from each other and hence their needs and wants are different from each other. A bank cannot satisfy all needs of the customers, so the second stage in the marketing process is recognising which customers and which needs would be potentially profitable for them. Marketing is a continuous process and for effective and successful marketing, banks needs to make their purpose clear also strategies they employee to accomplish their objectives. Bank Marketing Objectives Banks Strengths and Weaknesses Opportunities and ThreatsThe overall marketing process starts with the corporate objectives of the Barclays as illustrated in the figure, in the context of mission statement, as the directional beacon provides the strategies and objectives for the realisation of the objectives.Consedring other aspects of strategic management, the process involves continuous discussion, analysation, evaluation, review feedback and decision to reconcile and harmonize the marketing techniques with corporate objectives from which the marketing objectives derive. Environmental Analysis Bank Marketing Organisation Bank Marketing Strategy Appraisal Relocation of Sources Strategic Planning 3.6 Approach of marketing of financial services: Developing marketing programme in service industry is very challenging, however as in product marketing management should first define its marketing objectives and its target markets. For that management should develop, design and implement marketing mix strategies to figure out its markets and fulfil marketing goal. Marketing manager of financial services should understand the component and population and income as they affect the market for the services. They need to determine for each market segment, why customers buy the given services. Market segmentation for the financial services enables the banks to select the potentially most profitable segment, and to concentrate resources on the segment chosen, thus making activity better focussed and less wasteful. 3.7 Planning and Developing Strategies of Services: In the marketing process of planning and developing new services, management should select appropriate strategies regarding: What services will be offered. What will be the length and breadth of the services mix offered? What needs to be done in the way of service attributes such as customer relations or providing guarantees? It is impressive to take into account consideration the centrality of the customer and what makes him need the services. Whether corporate or personal, customers needs vary and change throughout their lifetime. Design, audit, producing and developing the service require continuous research and regular review of it features, the use of packaging with other associated services and the trend in the market place. Competitors services and their effects similarly require continuous marketing research, as do the changes in the consumer preferences, so that new and modified services can be introduced to meet anticipated changes in demand and consumer requirements. 3.8 Pricing Strategies of services: Price is very important factor for customer consideration. Subject to regularity constraints, price is relatively flexible element in the market. The elasticity of demand for financial services should influence the price set by the seller. 3.9 Channel of Distribution of Services: In recent years, some organisations have realised that the characteristics of inseparability is not an insurmountable limitation to a sellers distribution system. The location of the service seller or the sellers agent should be conveniently accessible to customers. Banks have increased their businesses their business by installing 24-hour mechanical tellers and by setting up teller windows for drive in customers. The laudable week 3.10 Customer Relations: As on the one hand government provides the legislative and regulatory environment, same like on other hand customers provides the market. As suppliers of the stock in trade deposits and consumers of the services, customers constitute the pillar and lifeline for banking. Therefore they make the greatest demand on banks, the most important being getting their money back when they want it and some of the banks money when they need it. In the market place customers are broken down into groups with different ideas of what they want. The largest group is the one looking for a low-price, no frills services- but of course low prices often go hand in hand with low profits. The group who are prepared to pay for exceptional quality is small, but probably more profitable for the company. The company has to decide where its own strengths lie in terms of meeting customer expectation, and then decide whether it is able to meet the needs of its chosen target group better than the competition can do it (Jim Blythe, Principle Practice of Marketing, 2005, p-178) In these different groups of customers, the Barclays plc lies in the group D, which customer are willing to pay more for exceptional quality, because the airline are operating at premium services. Premium customers also want reliability and consistency in the services and like the increased flexibility. 3.11 Statistical Tools Applied in Data Analysis: Questionnaires as a primary source of information are used in collecting data. In the questionnaires both the open ended and close ended form of questions has been used to control and guide the respondents from deviating unnecessarily from the subject of the research and to prevent them from giving irrelevant views about the subject matter. The data obtained from the questionnaires is administered and analysed accurately, but to the concern of the researcher is to obtain the desired result from the diverse opinion and multiple suggestions. Different tools such as tables, charts, pie charts, diagrams and other mathematical and statistical calculations involving averages, ratios, and percentages have been used to analyse and evaluate the data obtained from the questionnaires. Comments: Part 3 is a major part and it is very weak. You mentioned that questionnaire will be used. Then where is the analysis of those questions asked in the questionnaire. That analysis should be presented in this section. The project is related to accounting therefore you would have presented some factual information through Balance Sheet or Profit and Loss statement and indicate how much expenses organisation is making on Marketing. It would be good if some rations are used to calculate that the expenditures on marketing is producing some profits for the company. The information can be collected from internet ot other sources etc. Overall project should be for 60

Barriers To Communication Essay

A † communication barrier† or â€Å"a barrier to communication† is anything that interferes with the transfer of intended information from a sender to a receiver. This can include anything from static on a radio, preventing the listener from hearing the program, to a third party interfering in a conversation between two people.Barriers to communication can retard or distort the message and intention of the message being conveyed which may result in failure of the communication process or an effect that is undesirable. These include filtering, selective perception, information overload, emotions, language, silence, communication apprehension, gender differences and political correctness This also includes a lack of expressing â€Å"knowledge-appropriate† communication, which occurs when a person uses ambiguous or complex legal words, medical jargon, or descriptions of a situation or environment that is not understood by the recipient. Psychological Barriers The psychological state of the receiver will influence how the message is received. For example, if someone has personal worries and is stressed, they may be preoccupied by personal concerns and not as receptive to the message as if they were not stressed. Anger is another example of a psychological barrier to communication, when we are angry it is easy to say things that we may later regret and also to misinterpret what others are saying. Psychological barriers to communication include. Emotional Perceptual Selectivity Emotions Emotional barriers is the feelings that prevent you to communicate effectively. liking and disliking are included in Emotional Barrier. Both the encoder and decoder affected in emotional barrier.To communicate effectively, you must clearly convey thoughts and emotions both verbally and nonverbally. Many times, emotional barriers on your part or the part of the person you are speaking with may inhibit your ability to communicate on an effective level. Your emotional state may influence your capacity to make yourself understood and hamper your understanding of others. For example you might be emotionally blocked if you are announcing a new policy, giving the first major presentation on job or in a class, writing someone you dislike. People may feel indifferent toward you or your subject or show anger against you and your subject. Perceptual Perception is a subjective process. When senses deliver their information to the reception centers of the cortex, they are associated with past perceptions, memories, feelings, thoughts, values, needs, drives, attitudes and other things going on in the brain that are totally unique. The result is a highly individualized way of looking at things. Perception is understanding of the world around us. Each one perceives the world in his own unique way and interprets what has been perceived in yet another unique way and interprets what has been perceived in yet another unique way. When we strongly disagree, we simply say â€Å"I am sorry, our perceptions appear to be different†. For example imagine every one in a company receiving a copy of the annual report. An accountant may concentrate only on one footnote in the financial statement, a sales person may look at marketing charts, and a public relations officer may respond only to the quality of the brochure itself each reader received the same data each reader perceived the differently. Another example of perception is your boss ask you to turn in a report right away you work late that night because you assume he means as soon as possible in fact he meant before the end of the week in this case you filled in information. Selectivity The audience is not able to absorb all the information coming from a variety of sources; so the audience pick up information on selectively. The selectivity is affected by timing, context, and the degree of uniqueness of information.

Why did Elizabethans voyage overseas and were they successful?

During the middle ages Europeans know little about the rest of the world. Silks, spices were brought overland to Europe from India and china, but sailors didn’t dare to sail the unknown seas. In this essay I will be discussing why Elizabethans were made to go on over sea voyages in the 1550s during the time of the cloth trade collapse. What did England achieve from these successful voyages over sea and what new markets did they find to sell their goods also how did Britain become the most powerful country in the world . In addition to who were the sailors that helped England claim power and wealth? Between 1430-1530 European sailors began making voyages across the oceans. In 1550 the cloth trade collapsed . Merchants need to find new markets in which to sell their goods. Markets such as the Muscovy company which traded with Russia in timber and lurs also the East Incia Company which traded with India and the Far East in silks, spices, cotton and tea in addition to The Levant company which traded with countries around the eastern Mediterranean in currents and dyes. They went across the world to sell their English cloth and at the same time giving people in other countries a chance for ‘All savages, so soon as they began to taste of civilisation ‘which was said by Richard Hakluyt in his book ‘The Principle navigations, voyages and discoveries of the English Nation ‘in order to encourage overseas voyages . This encouraged English sailors and more people become interested in these voyages over sea. Richard Hakluyt thought that from these voyages over see the navy would be enlarged making England more powerful and become the greater country as he says ‘By these voyages our navy shall be enlarged ‘it was stated in his book. In addition the fact that the navy will become bigger just like Spain and Portugal’s, men and women shall work there will be more employment opportunities available which means that more money will be coming in to the nation ‘it will prove general benefit into our country ‘ . They would also gain more money as they would be going overseas and selling spices , which links into the trade markets especially The East Incia company which traded silks and spices . There were monopolies on the trade companies. Monopolies is when you have control over a given market, you are given a legal piece of paper (warrant)telling you that you could trade with that company , but that warrant didn’t come free you had to bid for it in order to get it . The companies paid Elizabeth money so that they could get their warrant and trade with the country that they wanted to trade with. The money which was used to pay for the warrants goes to Elizabeth so she can then deal with her economical problems and the debt that her sister Mary put her in of ?250,000. After the monopolies expired you would have to pay again for them and get it renewed or else you could no longer trade in that area. Merchants, nobles, and even the queen invested in these voyages . They made large profits from captured cargoes like gold and silver. Francis Drake stole silver, gold and jewels from Spanish ships coming from Mexico. This gold and silver benefited the economy as it made them more money. Gold was brought by the rich, who had to pay tax which helped Elizabeth pay her debt as she was the government and received the money. Drake's successful battles against the Spanish helped England become a major sea power. He was the First Englishman to sail around the world. On the way round the world, Drake landed in what is now California, naming it Nova Albion (New England) and claiming it for his queen. Drake returned from his voyage with his ship packed full of spices from the Indies, and plundered Spanish silver and treasure. Drake was knighted by Queen Elizabeth l for his courage, and for the treasures he brought back with him. He brought back enough treasure to pay off the entire national debt. John Hawkins was a cousin of Drake. He was the first Englishman to trade in slaves. He bought slaves in West Africa and sold them to the Spanish colonies in the West Indies, often raiding Spanish ships as he went. After retirement he built ships for the navy. Sir Walter Raleigh led many expeditions to America and introduced tobacco and the potato into England. He chose the name of the first English colony in America. He named it Virginia after Queen Elizabeth. However some sailors were unsuccessful like Sir Humphrey Gilbert who explored the north coast of America but was never seen again. Also Sir Walter Raleigh of 1595 who set to sail for south America hoping to find El Dorado , a legendary city full of gold . He never found the city and never returned with any gold making him useless to the country as he did not benefit it. England had more power, defence and a stronger navy than before as British sailors improved their skills in sailing and fighting at sea. New and faster ships were built by Hawkins. These ships helped in the Spanish armada in 1558. By 1603 England had become the greatest sea-power in the world. In conclusion the Elizabethans were successful on their voyages overseas as Britain became the most powerful and richest country in the world by 1803. The trading companies became very wealthy in the seventeenth century. England had the greatest sea-power in the world which lasted until the twentieth century. They were encouraged to go on voyages overseas so that they could trade with other companies as they needed new markets to trade with after the cloth collapse and become wealthier as I stated in the essay. Sailors like Francis Drake helped gain success on voyages overseas.

The Scarlet Letter by Nathaniel Hawthorne - 506 Words

In the Scarlet Letter there are characters that are important to the novel; however there is one specific character that relates to the topic of the story is Arthur Dimmesdale. The character Arthur Dimmesdale is a respected minster in Boston. However even though, Arthur Dimmesdale is a minister and preaches against sin to his congregation, he commits the ultimate sin with a young married woman named Hester Pryne. For punishment Hester Pryne becomes pregnant and shunned from public society, Dimmesdale is forced to live with guilt and later in the novel dies from the same sin within his body. Critics that have read the Scarlet letter would argue that Dimmesdale is a weak or ennobled character because he didn’t tell the community of his sinful crime. Another characteristic that critics would agree on is that Dimmesdale was a hypocrite. Arthur Dimmesdale is a character that is weak and hypocritical to his own belief. The First point that critics would argue about if Arthur Dimmesdale was a weak or an ennoble person. Author Dimmesdale was seen as a role model in his community, citizens of his community would praise his knowledge of the bible and his leadership (Hawthrone65). The citizens would believe that Dimmesdale was a puritan, but in reality Aurther Dimmesdale was actuay a liar. The character Aurther Dimmesdale was consider a weak person because he allowed Hester Pryne to be shunned from public society, even though Dimmesdale committee the same sinful act as HesterShow MoreRelatedThe Scarlet Letter By Nathaniel Hawthorne1242 Words   |  5 PagesLYS PAUL Modern Literature Ms. Gordon The Scarlet Letter The scarlet letter is book written by Nathaniel Hawthorne who is known as one the most studied writers because of his use of allegory and symbolism. He was born on July 4, 1804 in the family of Nathaniel, his father, and Elizabeth Clark Hathorne his mother. Nathaniel added â€Å"W† to his name to distance himself from the side of the family. His father Nathaniel, was a sea captain, and died in 1808 with a yellow fever while at sea. That was aRead MoreThe Scarlet Letter By Nathaniel Hawthorne960 Words   |  4 Pages3H 13 August 2014 The novel, The Scarlet Letter, was written by the author Nathaniel Hawthorne and was published in 1850 (1). It is a story about the Puritan settlers of the Massachusetts Bay Colony, set around 1650 (2). The story is written in the third person with the narrator being the author. The common thread that runs through this novel is Hawthorne’s apparent understanding of the beliefs and culture of the Puritans in America at that time. But Hawthorne is writing about events in a societyRead MoreThe Scarlet Letter, By Nathaniel Hawthorne919 Words   |  4 Pagessymbolism in Nathaniel Hawthorne’s â€Å"The Scarlet Letter†. Symbolism is when an object is used in place of a different object. Nathaniel Hawthorne is one of the most symbolic writers in all of American history. In â€Å"The Scarlet Letter†, the letter â€Å"A† is used to symbolize a variety of different concepts. The three major symbolistic ideas that the letter â€Å"A† represents in Nathaniel Hawthorne’s â€Å"The Scarlet Letter† are; shame, guilt, and ability. In Nathaniel Hawthorne’s â€Å"The Scarlet Letter†, the firstRead MoreThe Scarlet Letter By Nathaniel Hawthorne1397 Words   |  6 PagesFebruary 2016 The Scarlet Letter was written by Nathaniel Hawthorne in 1850 which is based on the time frame of the Puritans, a religious group who arrived in Massachusetts in the 1630’s. The Puritans were in a religious period that was known for the strict social norms in which lead to the intolerance of different lifestyles. Nathaniel Hawthorne uses the puritan’s strict lifestyles to relate to the universal issues among us. The time frame of the puritans resulted in Hawthorne eventually thinkingRead MoreThe Scarlet Letter By Nathaniel Hawthorne999 Words   |  4 Pages Nathaniel Hawthorne is the author of the prodigious book entitled The Scarlet Letter. In The Scarlet Letter, Hester Prynne commits adultery with Reverend Arthur Dimmesdale. Her husband, Roger Chillingworth, soon finds out about the incident after it becomes clear that she is pregnant. The whole town finds out and Hester is tried and punished. Meanwhile, Roger Chillingworth goes out then on a mission to get revenge by becoming a doctor and misprescribing Dimmesdale. He does this to torture DimmesdaleRead MoreThe Scarlet Letter, by Nathaniel Hawthorne1037 Words   |  5 Pagesthat human nature knows right from wrong, but is naturally evil and that no man is entirely â€Å"good†. Nathaniel Hawthorne, author of the classic novel The Scarlet Letter, believes that every man is innately good and Hawthorne shows that everyone has a natural good side by Hester’s complex character, Chillingworth’s actions and Dimmesdale’s selfless personality. At the beginning of the Scarlet Letter Hester Prynne is labeled as the â€Å"bad guy†. The townspeople demand the other adulterer’s name, butRead MoreThe Scarlet Letter By Nathaniel Hawthorne1517 Words   |  7 PagesNathaniel Hawthorne composes Pearl as a powerful character even though she is not the main one. Her actions not only represent what she is as a person, but what other characters are and what their actions are. Hawthorne makes Pearl the character that helps readers understand what the other characters are. She fits perfectly into every scene she is mentioned in because of the way her identity and personality is. Pearl grows throughout the book, which in the end, help the readers better understandRead MoreThe Scarlet Letter, By Nathaniel Hawthorne1488 Words   |  6 Pages In Nathaniel Hawthorne’s novel The Scarlet Letter, the main character, Hester Prynne, is a true contemporary of the modern era, being cast into 17th century Puritan Boston, Massachusetts. The Scarlet Letter is a revolutionary novel by Nathaniel Hawthorne examining the ugliness, complexity, and strength of the human spirit and character that shares new ideas about independence and the struggles women faced in 17th century America. Throughout the novel, Hester’s refusal to remove the scarlet letterRead MoreThe Scarlet Letter By Nathaniel Hawthorne1319 Words   |  6 PagesPrynne and Arthur Dimmesdale are subject to this very notion in Nathaniel Hawthorne s The Scarlet Letter. Hester simply accepted that what she had done was wrong, whereas Dimmesdale, being a man of high regard, did not want to accept the reality of what he did. Similar to Hester and Dimmesdale, Roger Chillingworth allows his emotions to influence his life; however, his influence came as the result of hi s anger. Throughout the book, Hawthorne documents how Dimmesdale and Hester s different ways of dealingRead MoreThe Scarlet Letter By Nathaniel Hawthorne1714 Words   |  7 PagesSome two hundred years following the course of events in the infamous and rigid Puritan Massachusetts Colony in the 1600s, Nathaniel Hawthorne, descendant of a Puritan magistrate, in the 19th century, published The Scarlet Letter. Wherein such work, Hawthorne offered a social critique against 17th Massachusetts through the use of complex and dynamic characters and literary Romanticism to shed light on said society’s inherent contradiction to natural order and natural law. In his conclusive statements