Customer Relationship - 10865 Words

CUSTOMER RELATIONSHIP MANAGEMENT IN MARKETING FINANCIAL SERVICES (A CASE STUDY OF UNIBANK GHANA LIMITED) ABSTRACT Customer relationship management is a customer focused business strategy that dynamically integrates sales, marketing and customer services, in order to create and add value for the company and its customer. Consequently, the research project addresses problems of customer relationship management in the banking industry. Some of the problems are in the past few years, the Ghanaian economy has been increasingly hard-pressed to meet financial obligation. Problems occur when failing to think of sales as the output of a process that itself needs to be studied and taken into account when planning automation;†¦show more content†¦Introduction 31 3.2 History and Business of First Bank 31 3.3 Research Hypothesis 34 3.4 Sampling Frame 35 3.5 Methods of Data Collection 36 3.6 Methods of Data Analysis 37 3.7 Methodological limitations 38 CHAPTER FOUR DATA PRESENTATION AND ANALYSIS 1. Introduction 41 2. Presentation and Analysis of data according to Research questions 42 3. Test of Hypotheses 70 CHAPTER FIVE SUMMARY, CONCLUSIONS AND RECOMMENDATIONS 5.0 Introduction 75 1. Summary of findings 75 2. Conclusions 77 3. Recommendations 78 References 80 Appendix 82 CHAPTER ONE INTRODUCTION 1. BACKGROUND INFORMATION For many reasons, customer’s relationship management in marketing financial services gives a whole host of suggestions as to how companies can improve their Customer Relationship Management and achieve their anticipated returns on investment. It shows how to avoid the main problems and challenges some of the conventional wisdom about what is happening in the financial services market. Customer Relationship Management is a customer focused business strategy that dynamically integrates sales, marketing and customer care services in order to create and add value for the companyShow MoreRelatedCustomer Relationship Management : Definitions Of Customer Relationships966 Words   |  4 Pages2.1.1. Customer relationship management Definitions of customer relationship management Kumar and Reinartz (2012, p.4) defined CRM as a process companies analyse marketing database and leverage communication technologies to find practices and methods to maximise lifetime value of each customer to the firms. In this definition, the authors focus on customer value which is the economic value customers receive after they interact with the organisations. The most important part of a CRM strategy isRead MoreCustomer Relationship Management1204 Words   |  5 PagesCRM Customer Relationship Management CRM is a Strategy Most people believe that CRM is just a system that will run their business without making any efforts which is totally wrong. The CRM is a strategy that is run by people to acquire, manage, select, grow and retain a strong relationship with the right customers with the best long-term profit potential. This cannot be done with a CRM system without a good strategy that puts the employees on the right track. The CRM System Read MoreCustomer Relationship Management1220 Words   |  5 PagesIntroduction Customer Relationship Management (CRM) is an important part of any companies sales mix. As part of a sales mix, companies must have a strong sales team; a well planned and executed marketing strategy, and a method to record pertinent information to manage customer relations. A CRM system is an important part in any company. They have a variety of uses from holding basic information such as names and address, to holding other information including relationship history, contract informationRead MoreProjects: Customer Relationship Management and Customers10208 Words   |  41 Pagesâ€Å"EFFECTIVENESS OF CUSTOMER RELATIONSHIP MANAGEMENT PROGRAMME IN STATE BANK OF INDIA† Submitted In The Partial Fulfillment Of Degree Of MBA Batch 2006-08 SUBMITTED TO: - SUBMITTED BY:- Mrs. Riya Sharma Rishi Gupta (Project Guide) Roll no. 0471483906 [pic] MAHARAJA AGRASEN INSTITUE OF TECHNOLOGY PSP AREA, SECTOR-22 ROHINI, DELHI—110085 Ph: 25489493- WHOMRead MoreCustomer Relationship Management4209 Words   |  17 PagesFACULTY OF MANAGEMENT STRATEGIC MANAGEMENT CUSTOMER RELATIONSHIP MANAGEMENT (CRM) Abstract Majority of administrations have observed the customer relationship management (CRM) design as a hi-tech explanation for glitches in individual region, convoyed by a great deal of not coordinated enterprises. in any case, customer relationship management have to be conceptualized as a strategy, due to its technological, human, and processes implicationsRead MoreCustomer Relationship Management16994 Words   |  68 PagesCustomer Relationship Management SYMBIOSIS INSTITUTE OF MANAGEMENT STUDIES (SIMS) Dissertation on Customer Relationship Management Submitted By: Ayush Singh Roll no:09 PRN No:68211 Class- 2(D) Semester: Fourth Semester Date required:18/2/2008 Date of Submission: 18/2/2008 Assignment Grade: Comments of the Faculty: 1 Customer Relationship Management CONCEPT OF CRM INTRODUCTION TO CRM CRM (Customer Relationship Management) has been growing steadilyRead MoreCustomer Relationship Marketing1911 Words   |  8 PagesDelivering Customer Value – Customer Relationship Marketing Introduction In the past few decades Customer relationship was none existence with business organization making no effort to build relationships with its customers. But since then strong competition has forced business to form long lasting relationships with its customers, if it needs to stay in business. The term Customer Relationship Marketing first emerged during the 1990’s. It was made possible due to the advancement in IT andRead MoreCustomer Relationship Management Systems And Customer Relationships1128 Words   |  5 Pagesrepresentative of the business, and a customer. The customer has a problem or need and the salesperson seeks to address it. From the first line of communication, the salesperson assesses the situation and decides the best solution from their product or service line. Using intuition and skill, the representative leads the customer into buying the best product with hopes of turning a profit. Every exchange is important and will often determine if they customer will return to the business the next timeRead MoreWhy Is Customer Relationship Management?1709 Words   |  7 PagesHow and why  is Customer Relationship Management (CRM) important to sports marketing managers? Introduction In the past two decades, huge marketing and mass marketing have been changed competitive landscape due to growing goods available for consumers. Proliferation of business activities would focus on customer relationship management, which is to achieve competitiveness (Chen et al., 2003). As the concept of customer relationship management has a significant change, there are a variety of CRM definitionsRead MoreAspects Of Customer Relationship Management1148 Words   |  5 PagesThere are several aspects of Customer Relationship Management (CRM). The key aspects include the following. Business to business relationship, this includes relationship with suppliers, distributers and partners or retail channels. This is an external network which works as a support system for the internal networks. The second aspect is data analysis, this is the backbone of CRM system. The customer data that should be analyzed is constantly added and then combined with predictive analytics to plan

Employee Compensation And Benefits Package - 944 Words

Employee Compensation and Benefits Package The organization for which I am designing the compensation package is a company that offers internet solution to customers in the domestic US market and the global market. The position that I am hiring is that of a company secretary. The secretary will be required to work in the office of the human resource manager and will handle all the papered and paperless documentation. The position comes with numerous benefits and packages as outlined herein. After doing extensive research and analyzing the data released by the bureau of labor statistics, the secretary will be paid a basic pay of $25.00 per hour (Deckop, 2006). The amount is based on comparative analysis of how secretaries are paid by other similar organizations and with the goal of offering a competitive package that attracts many qualified secretaries to compete for the position. The position will be non-exempt and is based on fixed working hours. Any overtime will not be implemented until approved by the company’s man agement (Armstrong, 2007). The overtime payment will be $35.00 per hour, but this may be adjusted depending on the amount of work involved in the overtime hours. The position will also offer other employee benefits and allowances as a motivation for the workforce. The company will offer medical insurance where the employees will be sponsored for half the amount incurred as medical expenses. The medical cover offered by the company also covers the immediateShow MoreRelatedEmployee Compensation And Benefits Package Essay905 Words   |  4 PagesIntroduction – Employee Compensation and Benefits This paper will outline an employee compensation and benefits package for a new hire for a secretary for the department. First, it will describe the organization I chose for designating a compensation package. Next, this paper will develop an employee compensation and benefits package for this new position. This paper will outline an employee compensation and benefits package for a new hire for a secretary for the department. First, it will describeRead MoreEmployee Compensation And Benefits Packages Essay1245 Words   |  5 PagesEmployee Compensation and Benefits Organizations create compensation and benefits packages in order to attract the best talent. In today’s global economy it is imperative that organizations offer compensation packages that are competitive in order to recruit the very best talent in the world. However, in order to be successful, compensation packages must align with business strategies. Authors â€Å"Mathis, Jackson, and Valentine (2014) explain that an effective total rewards approach balances theRead MoreEmployee Compensation And Benefits Packages Essay1537 Words   |  7 PagesIntroduction In today’s competitive workforce, compensation and benefit packages plays a crucial role on recruitment and retention for both the organization and the employee. Bumpbie finds itself in a situation where it could positively affect its employee’s morale, turnover rate and longevity; by making a strategic decision to implement compensation and benefit packages that will encourage current workers to stay and entice new applicants. Money is not always the inherent reason businesses experienceRead MoreEmployee Compensation and Benefits Packages548 Words   |  2 PagesEmployee Compensation and Benefits Packages Introduction: A companys compensation and benefits package will likely be a great determinant of the quality of its personnel and the stake that these employees feel that they have in the hiring organization. This is why it is incumbent upon an organization to choose a compensation and benefits strategy that is at once consistent with internal values, needs and expectations and respects the external forces of industry standards, market context and geographicalRead MoreEffectively Managing Employee Compensation and Benefit Packages1289 Words   |  6 Pageschallenge, for global organizations and the human resource department, is effectively managing employee compensation and benefits packages. Managing compensation structures has become an integral part of many organizations that conduct operations in the global market, as there are many considerations for the host country when sending expatriates abroad. It is imperative for organizations to develop global compensation structures that attract and retain quality employees while not impeding operations or diminishingRead MoreConsiderations for Compensation and Benefits1442 Words   |  6 PagesConsiderations for Compensation and Benefits Abstract Compensation is one of the most important considerations perspective employees will make prior to accepting a job offer. For this reason, another performance of Human Resource (HR) professionals is the compensation analysis. The focus of the analyst in this position is to use strategy in formulating compensation and benefits packages that are attractive and conducive to maintaining talented employees (Editorial Board, 2011). As another criticalRead MoreCompensation Of Memorial Hospital Savannah1075 Words   |  5 PagesCompensation Packages- Memorial Hospital Savannah HR is the one responsible of the development of the organization compensation system and of the development of the pay structures, programs and policies.an effective compensation system will be focused on compelling with the law, cost-effectiveness, provide equity in all aspects and enhancement of the organization (Flynn, 2015). Compensation packages can include bonuses, benefits like health insurance, retirement benefits, paid time off, and professionalRead MoreEmployee Benefit Plan Development : Employee Benefits Essay1508 Words   |  7 PagesEmployee Benefit Plan Development â€Å"Understanding your employee’s perspective can go a long way towards increasing productivity and happiness† – Kathryn Minshew, founder of The Muse. In today’s highly competitive and robust job market, benefit programs have become an integral aspect of an employer’s total compensation package. In fact, an employer’s total benefit package plays just an important role in attracting and retaining talent for organizations as monetary compensation, according to a recentRead MoreHuman Resource Practices With Business Goals1363 Words   |  6 Pagesaligning business goals with employee motives, a well-rounded compensation plan precedes attainment of these business goals(Martocchio 3). As can be seen by this statement, compensation is a major concern for all players in the business world today. As a matter of fact, if a company fails to properly manage their compensation package they will find themselves being left behind by the competition. In particular, what exactly does being left behind in compensation and benefits mean? It stands that otherRead MoreMicrosoft Compensation and Benefit System1648 Words   |  7 PagesCompensation and Benefits System of Microsoft MGMT 365 February 23, 2014 Compensation and Benefit System of Microsoft Microsoft was founded in 1975, and is the worldwide leader in software, services, and solutions (Career). Microsoft is proud to offer great products and employ outstanding people. Previous Microsoft CEO, Steve Ballmer once said, â€Å"There are many things that are true about Microsoft. We have big goals, big dreams, and big aspirations for the future. We are both competitive

Netw410 Week2 Free Essays

Lab Report 1. What are the business goals? (10 points) Business Goals for this project include addressing the growth of on-campus and online students. To accomplish these goals a centralized server located in new IT wing of the administration building providing online backup of all data. We will write a custom essay sample on Netw410 Week2 or any similar topic only for you Order Now Replacing the PBX-based telephone system with a VoIP based system and connecting all buildings providing high-speed wired network connection for all facility offices will be implemented along with controlled wireless access for students. Wireless access for students and general population will be provided outside the building. These steps are necessary to build a solid infrastructure for the network and allow for and to plan growth. Funding has been established to purchase land 15 miles away and as the campus expands this will be the next site for expansion. The actual business goals for this project is to offer new and better services and support, open the network to key constituents, build relationships and information accessibility to a new level, as a basis for the network organizational model, avoid business disruption caused by network security problems, avoid business disruption caused by natural and unnatural disaster, modernize outdated technologies and reduce telecommunications and network costs, including overhead associated with separate networks for voice, data and video. 2. What are the business constraints? (10 points) The business constraints are like all companies and they include budgets, personnel, policies and schedule. None of which have been defined in our design lab scenario. Budget costs include equipment purchases, software licensing, maintenance agreement and staff training. Personnel constraints related to the business constraints to be considered include the availability of existing trained personnel and if existing personnel must receive additional training to implement and maintain the proposed network changes. Policies of the organization must be considered and since this a community college determination of protocols, standards and vendor selection must be determined. The final business constraint addressed should include the schedule of the implementation as not to interfere with current operation by faculty, staff and students. 3. What are the technical goals? (10 points) Technical goals of the project include improving responsiveness and throughput of the network as many users are added along with additional applications, especially the VoIP based system. Simplifying network management is obtained by centralizing the server(s) and backup in a newly built IT wing in the administration building. By this centralization and backup improvement should be obtained to the security and reliability of applications and data along with decreased expected downtime. By offering high speed wired network connections to each faculty office and controlled wireless access for the students modernizing outdated technologies shines as one of the technical goals. With all these proposed improvements scalability of the network is achieved. . What are the technical constraints? (10 points) The current system equipment must coexist with the new equipment and as already discovered there must be increased bandwidth. Existing wiring should either be upgraded to accommodate upgraded speeds. The new or expanded network must not interfere with the current applications. Any new network or expanded network should also ensure IPv6 compatibility. 5. Diagram the existing network. (10 points) The actual Visio drawing is also submitted 6. Describe the existing network traffic. (10 points) Current network traffic is at 73% or more utilization based on a five minute average with sustained spikes to 100% on the Cisco FastHub 400s installed in each building. Approximately 42 students are logged into each wireless access point. This is creating lag times and most assuredly dropped packets. While dropping packets with data is troublesome it is disastrous for voice or video. According to our text there should be no shared Ethernet segments that are saturated (no more than 40% network utilization. ) The current system is working at 73% utilization. Network traffic must be improved. 7. Complete this table for all of the applications that currently run over the network. (10 points) Application Name| Type| New or Existing| Criticality| Comments| Google Apps for Education| Email / Web Site| Existing| X| | MS Office| Productivity| Existing| X| | Web Browser (IE)| Productivity| Existing| X| | Catalog / Checkout System / Library| Database| Existing| | Administration Building only| Data Share| Productivity| Existing| X| | Terminal Emulation Program (AS400) | Productivity| Existing| X| Administration Building only| Blackboard Learning | Management System (CRM)| NEW| X| Internet Connection| How to cite Netw410 Week2, Essay examples

The Capitalist World Economy

Question: Discuss about the The Capitalist World Economy. Answer: Introduction The purpose of this report is to identify and quantify two issues associated with free market system. A free market system refers to a market economy based on market forces with little or no government interventions. This system is as a result of adoption of a a capitalist system where economic players privately own properties and the only legitimate way of transferring ownership rights is through trade, inheritance, wagers or gifts. Capitalism has been widely adopted in the modern economy despite its spectacular drawbacks (Brockman et al. 2011). As a result of free market, several issues have been created and it requires efforts from both the business players and the governments to remedy the situation .These issues are poverty, gender inequalities, ageing societies, youth unemployment and skills shortages. These issues act to the disadvantage of the countrys current and future situation. This report will start by discussing the Capitalist system followed by in-depth quantifying of youth unemployment and poverty. And finally discussing measures that business and Government need to take to improve levels of youth unemployment and poverty. Capitalist System Capitalist system is an economic system based on private ownership of factors of production and whose operations are profit motivated. Zimbalist et al. (1988) defined pure capitalism system as the one in which means of production (physical capital) are owned and run by private entities (capitalist class) for profits. Most of other people in the economy work for salaries and wages. According to Gregory and Stuart (2013), decisions within the capitalism economy are decentralized by the government and rest with the owners of factors of production who are material motivated to participate. Aspects of Capitalist System Capitalist system is characterized by capital accumulation, private property, wage labor, voluntary exchange, competitive markets and price system (Louis Hyman and Edward E. Baptist (2014). These aspects are discussed below Accumulation of Capital This refers to profit maximization to increase self-worth. Capitalists are devoted to increase their capital in order to increase profits which act as incentives to innovate, work harder and be efficient in production processes (Heilbroner et al. 2008). Private Property This aspect refers to the right of citizens to own and accumulate capital. These rights can be transferred to other private citizens at a price jointly agreed upon. A price of owned or transferred properties is determined by the market forces (Louis et al.2014). Competition Capitalist system is characterized with competition where businesses compete to provide better, cheaper and faster goods or services to the customers. This leads to businesses operating in the most efficient way possible to minimize production and operations costs in order to best offer attractive prices in the market. Louis et al. (2014) stated that completion forces businesses to maximize efficiency for them to offer lowest prices in the market to avoid being kicked out by more efficient business. Private control of Factors of Production In Capitalism, Private entities are in control of factors of production. These include land, capital and labor. Private enterprises set prices of factors of production to levels that maximize profits as shaped by the free market forces. According to Louis et al. (2014), Surplus benefits from the factors of production are held to individual producers. Advantages of Capitalist System Capitalism has proved to be the most productive, efficient and effective economic system that has revolutionized businesses and peoples wants in the world. Generally, capitalism has raised standards of livings for many people by enabling accessibility, quality and affordable prices. Capitalism has been successful and it has benefited the few individuals who can afford to pay and take up the opportunities in a competitive arena. Disadvantages of Capitalist System Though capitalism is widely used, it operations has led to most of the current problems in the current world. These problems are as a result of expansion to increase supply in order to increase profits which is individual gains at the expense of common good i.e. private sector strives to maximize profits with little or no consideration of the other parties. Key Issues in Free Market System Youth Unemployment According to United Nations Youth Report 2012, Youth unemployment is referred to as unemployment of individuals aged between 14-28 years. The age bracket may differ from one region to another. For instance in Africa, the age extends to mid-thirties (Gough et al., 2013). It entails young persons who are willing and able to work, actively looking for a job but cannot find one. Therefore youth unemployment incorporates conglomerate of youths with will and ability to work but cannot find any or cannot find jobs that match the skills they possess or jobs that they can be proud of as their major expertise (Echebiri and Onah,2011) . Factors leading to Unemployment of youth in a free market Skills mismatch Most of young population lack skills required to work in the current labor market. Most of them lack good education and end up lacking skills required by employers. Due to the competitive nature of the free market systems, employers set high qualifications in order to maximize labor. According to the International Labor Organization report on Employment Trends for Youth (2010), skills deficit was contributing to a worse youth economic employments trends. Financial crisis Youths in the economy are the most affected in times of financial crisis in the economy. When recession occurs in the business cycles, the existing problems in education systems and labour market do worsen. Recession affects the quality and security of jobs. It leads to retrenchment, and when it occurs in organization the less experienced and qualified are the first to be fired. For instance in the United Kingdom recession in 2009 rendered many youth unemployed. Lack of capital and credit facilities Youth lack capital to start businesses in free markets especially when they come from financially instable families. It becomes inaccessible due to lack of a collateral and high interest chargeable to loans. Most of youth lack financial history and the lending institutions do decline to risk offering them loans to start businesses. Lending institutions focus to the few individuals in the economy who are able to take opportunities. Lack of entrepreneurship skills .Most of young individuals lack entrepreneurial skills to start and run businesses. They are lack the basic skills required to identify an opportunity, gather required resources and run a business. Opportunities are identified by the old individuals in the field who are experienced and able to run the start-ups effectively. Lack of access to technologies. In most countries, youth cannot afford internet connection. They lack access to information in the digital era. This is mostly experienced in low income countries where even learning institution lack access to technology and internet. When young people graduate, they are at a disadvantage in the job market. Employers will seek for few exposed and knowledgeable candidates leaving the rest unemployed. Consequences of Youth unemployment Lack of innovation When youth people lack opportunities to put their skills into practice, they get lost .Young people end up losing their talents that would otherwise bring new methods of production or products to the economy. The economy suffers in the long run because the knowledge and capabilities of a young people are not utilized in producing innovations that contribute to economic growth. The economy lacks new creativity and diverse thinking that is naturally present amongst the young people. Political Unrest When youth are idle as a result of unemployment, they engage in riots and protests against the government of their country. Increased levels of youth unemployment lead to political unrest in the country and they threaten the internal security of a nation. For example in the year 2008 to 2011 ,when there was raise in youth unemployment in Europe ,there were riots and protects witnessed in a number of countries e.g. Spain, France and United Kingdom. Loss of a generation Young people are viewed to be the next social and economic generation. When they are not employed to utilize their skills and improve them, it consequently implies that a country will be losing the next generation. Unemployed young people end up living in poverty since they will lack money for basic needs. When young people are unemployed, they become socially excluded generation ( Morsy, 2012). Increase in crime Young people have a lot of energy and when they are not employed, they end up shifting attention to crime. Uddin et al (2008) stated that when young people who have skills lack jobs, they shift attention and use their skills to commit crime to earn a living .For example the cybercrime is rampant among learned young people. Poverty Poverty is defined as the general scarce of ones necessities (Merriam, 2013). Sabates (2008), outlines that poverty is diverse concept that includes economic, social and political elements of an individual or country. Poverty is a temporal situation that can last for a short period of time or long period of time. It can either be absolute or relative. Absolute poverty refers to lack of basic needs while relative poverty takes into consideration of a persons economic and social status in relation to others in the society. Causes of Poverty in Free Market Heavy competition The have-nots in free market are faced with heavy completion from the haves in business. When poor people try to start up businesses, they face stiff competition from the rich who have access to adequate capital and are able to operate in large scale that enable them benefit from economies of scale. As a result, poor people are in most instances kicked out of businesses and are left with nothing to do. This scenario increase the inequality in the economy with rich getting richer and poor getting poorer. Lack of Skills Individual who lack skills are not qualified to take job opportunities in a competitive free market. Employers in free markets go for most qualified individual who are well trained from the best institutions of preferences. When individual lack decent good rewarding jobs they get demoralized to work and opt for informal sector where they are able to access basic facilities. Lack of Capital When individual lack capital, they end up unable to start enterprises that would earn them incomes. Lack of capital by individuals makes them losers as they will have to watch those who have capital take their opportunities to invest and earn money. Limited access to credit Access to credit in free market requires collateral and financial history. When an individual is not from a financially stable background, then it becomes hard for them to start accessing credit services in a free market. The financial institutions are competitive and prefer working with the haves because it easy to recovery loans. This makes it difficult for individual from poor background to start or run businesses that are competitive in the economy. Lack of Protection from the Government It is hard for infant industries to develop in a free market unless they are offered protection by the government. When start-ups are not protected from the established businesses, they fail due to market failure. Established businesses have the first mover advantage and their producing average cost is minimum which not the case with infant firms. This phenomenon is rampant in free market making it impossible for new businesses to enter the industry. Consequences of poverty Poverty leads to increased criminal offences, low standards of living, increased epidemics and inequitable economy. Ways of reducing Youth Unemployment and Poverty Recommendations to Businesses Businesses need to do the following to reduce youth unemployment in a free market economy; Partnership with the education institutions .Businesses can help reduce youth unemployment by partnering with learning institutions to enhance matching of skills trained and the job requirements. Offering attachments and internships to youths. It recommendable that businesses offer working experience to learning young people to develop their skills for future careers while they are still students. Offering assistance to students about the transition from being a learner to the world of work. Businesses can host career talk around the learning institutions to advice young people .This will enable youths to be prepared on what to expect in the job market and how to conduct themselves till they are absorbed in the job market. Businesses can help reduce poverty in a free market economy in the following ways; Designing products for the poor individuals in the society. Businesses can help reduce poverty by producing products that are designed for bottom pyramid in the society. By doing this, poor individuals will be able to access products that can help raise their standards of living. Attracting the best employees to the business. Businesses can find out the talented people around the locality and absorb them. As a result businesses can help reduce poverty levels in the society. Offering entrepreneurial skills to the society. Businesses can help reduce poverty by empowering the locals with entrepreneurial skills that will enable then start up small or medium business that can act as a source of income. Recommendations to Governments Governments need to do the following to reduce the levels of youth unemployment; Fostering an education system that teaches 21st century skills .The government should update the education system to fit the requirements of the current century. For instance, use of technology should be incorporated in the school curriculum. Providing youth funds for capital to start businesses and offer credit facilities. The government should set financial institutions that will enable young people to access capital and credit at relatively lower interest rates and friendly terms. Training youth on entrepreneurship .The government need to empower young generation with startup skills of a business to enable creation of jobs among youths. This will reduce the level of youth unemployed in the economy. Vocational training in the learning. Governments need to train it young people on other skills not necessary academic knowledge. These skills reduce the level of unemployed youths. Governments need to do the following to reduce poverty in a free market economy; Protectionism of the infant industries to enable their establishment in the economy untill they mature and can stand for themselves. Governments need to offer protection to the new businesses that are facing stiff completion until they develop to avoid unfair competition. Methods that can be used to protect infant businesses are subsidies, incentives, tax exempt and reduced registration fees. Provision of financial services to underserved poor people through micro loans. Governments can offer micro loans through micro finances to poor people to enable them acquire capital and credit for starting and running their start up business. Conclusion According to the study, it evident that though capitalism is the economic system widely used the 21st century it has loopholes that are causing more harm in the society. And unless certain measures are put in place, the harsh drawbacks of free market economy will cause more problems to the nation and the world at large. Due to it nature, capitalism has made winners to win while and losers have lost more. Capitalism leads to economic oppression of the have-not. From this study, youth unemployment can be reduced by equipping young people with more vocational, life-skills, entrepreneurial and current 21st century job skills. Also, it is possible to reduce poverty level by protecting infant businesses, training citizens, and offering capital at affordable interests and considerable terms by the government. Businesses have a role to play also in order to reduce youth unemployment and poverty in a free market economy. Businesses partnership with educational institutions, offering attachment and internship programs can help reduce youth unemployment in the economy. Businesses can also reduce poverty by creating more jobs for the citizens, designing products for the bottom pyramid and promoting entrepreneurship to the people through social responsibility programs. In summary, capitalist system is not sustainable and causes harm to other players in an economy if no further remedy actions are taken. It of great importance that businesses and governments come together to ensure that the benefits of capitalism overweighs the negative aspects. Reference list Wallerstein, I. M. (1984). The capitalist world economy: essays. Cambridge [u.a.], Cambridge Univ. Press [u.a.]. Mander, J. (2012). The capitalism papers: fatal flaws of an obsolete system. Berkeley, CA, Counterpoint. Moore, B. C. (1974). A modest proposal for the reform of the capitalist system: politically impossible solutions to our economic ills. Washington, Center for the Study of Capitalist Institutions. Sirico, R. A. (2012). Defending the free market the moral case for a free economy. Washington, DC, Regnery Pub. https://public.eblib.com/choice/publicfullrecord.aspx?p=895184. Kates, S. (2014). Free market economics: an introduction for the general reader. Cheltenham, Elgar. Martinez, M. A. (2009). The myth of the free market: the role of the state in a capitalist Economy. Sterling, VA, Kumarian Press. Haberler, G. (1976). The challenge to the free market economy. Washington, American Enterprise Institute. Rao, C. P. (1998). Globalization, privatization and free market economy. Westport, Conn. [u.a.], Quorum Books SaÃÅ' nchez-CastanÃÅ'Æ’eda, A., SERRANI, L., SPEROTTI, F. (2012). Youth unemployment and joblessness: causes, consequences, responses. Newcastle upon Tyne, Cambridge Scholars Publishing. Johnson, J. S. (1969). Job accessibility: a study of factors inhibiting employment: Syracuse, New York, September, 1969. [Syracuse, N.Y?], [Syracuse-Onondaga County Planning Agency] Johnson, L. C., REITZ, J. G. (1981). Youth unemployment in Metropolitan Toronto. Toronto, Social Planning Council of Metropolitan Toronto. Gunderson, M., Fazio, F. (2014). Tackling youth unemployment. Newcastle upon Tyne, Cambridge Scholars Press Ltd. MachaÃÅ' cÃÅ'Å’Ek, L., Roberts, K. (1997). Youth unemployment and self-employment in East-Central Europe. Scott, B. R. (2011). Capitalism its origins and evolution as a system of governance. New York, Springer. https://site.ebrary.com/id/10502990. Rauhut, D., Hatti, N., Olsson, C.-A. (2005). Economists and poverty: from Adam Smith to Amartya Sen. New Delhi, Vedams. Hilary, J. (2013). The poverty of capitalism: economic meltdown and the struggle for what comes next. Gafar, J. S. (2003). Guyana: from state control to free markets. New York, NY. Nova Science Pubs. Wrigley, E. A. (2004). Poverty, progress, and population. New York, Cambridge Univ. Press. Crane, A., Matten, D. (2010). Business ethics: managing corporate citizenship and sustainability in the age of globalization. Oxford, Oxford University Press Harrison, A. L. (2013). Business environment in a global context Weidenbaum, M. L. (1998). Business and government in the global marketplace. Upper Saddle River, NJ, Prentice Hall. Mullerat, R. (2010). International corporate social responsibility: the role of corporations in the economic order of the 21st century. Austin, Wolters Kluwer Law Business.