Marketing Management With Entrepreneurship
The following report is “An Innovation and Creativity Audit” of Singer & Friedlander Commercial Finance Ltd. The aims of this investigation are to perform a successful assessment of innovation and creativity within the organisation and to record any recommendations for the future. Using the nine criteria that can be viewed in the contents page, the company will be assessed on its approach to innovation. Evidence, where appropriate will be recorded for each specific element. Other aims will be to identify barriers, if any to creativity that currently exist in the organisation and identify any problem solving / lateral thinking tools that could be adopted by the organisation to assist innovation and creativity.
The company will be fully researched and then a visit to the organisation will be necessary to find out as much information as possible. Here, interviews will be carried out with numerous staff as well as the Managing Director of Singer & Friedlander Commercial Finance.
To begin with, the main aim was to find out as much information about our chosen company as possible. This is where Secondary Research was extremely valuable.
“Secondary data are data that were collected by persons or agencies for purposes other than solving the problem at hand” (Aaker, Kumar, Day)
A variety of facts and interesting information was gathered from the Singer & Friedlander Commercial Finance website. Here, it was possibly to find out information on the companies history, the board of directors and products and services. Additionally, numerous web pages were helpful in gathering information on recent news on the organisation as well as journals that provided other relevant information on the company. Overall, the information gathered helped us determine aspects such as the core area of business, location, history of the business and products and services.
Secondly, a trip to the organisation itself was necessary to carry out sufficient Primary Research. A series of questions had been compiled to ask the various staff in the organisation and a full interview was also carried out with the Managing Director. This form of research had many advantages. Personal interviews allowed a vast opportunity for detailed feedback. It allowed the probing of complex answers and also reduced the misrepresentation of responses.
Additionally, the managing director was kind enough to allow our researchers to sit in and take notes in a formal company meeting. This proved extremely helpful and gave a detailed insight into the ideas and future objectives of the company.
Overall, both forms of research were extremely informative and definitely allowed the gathering of more information and ideas than were expected.
The history of Singer & Friedlander begins almost a century ago when, in 1907, Julius Singer founded a stock broking firm in the City of London. Ernst Friedlander, whose family had been bankers in Berlin since 1832, joined him five years later. As the founder of South Africa’s first merchant bank and later, Chairman of the Johannesburg stock exchange, Ernst brought his unique experience to their partnership. Forced by the 1914-18 war to resign from the Stock Exchange, they turned their attention to banking, laying the foundations for what was to become one of the leading merchant banks in the City of London.
By 1920, they had been joined by Julius Stern and Max Ullman, at which point the partnership began operations under the now familiar name of ‘Singer & Friedlander’, and business thrived.
Becoming a publicly quoted company in 1957, the Group was subject to a series of acquisitions and eventually regained its independence in 1987. Since then Singer & Friedlander Group PLC has concentrated on the provision of Banking services in the U.K., together with Investment Management, Property Investment and Stock broking. It is now one of the top 250 companies quoted on the London Stock Exchange.
Today, Singer & Friedlander Limited, the Banking Division of the Group, continues to build on the vision of its founders, providing clients with a highly personal and bespoke service for all their banking needs.
Based in Glasgow, Singer & Friedlander Commercial Finance is a subsidiary of the respected and long established merchant bank, Singer & Friedlander Limited, which itself is part of Singer & Friedlander Group PLC provides asset finance facilities, including leasing, hire purchase, lease purchase and business loans, to an expanding commercial client base throughout the United Kingdom. The attention of the company’s skilled and experienced management team, supported by efficient administration, assures swift appraisal of business proposals. Continuing emphasis is placed upon flexibility and quality of service.