TATA Company International Business

Introduction International business refers to commercial transactions that are conducted across political boarders. The boarder may describe countries, nations, states or even regions. International business is normally undertaken for purposes of profit making though transactions by governments at times carry political benefits.Advertising We will write a custom report sample on TATA Company’ International Business specifically for you for only $16.05 $11/page Learn More This paper seeks to discuss aspects of international business with respect to a case study about TATA Company. The paper will look into the case study to identify contemporary issues that are facing the company and to carry out an evaluator analysis into the company’s position and environment. The house of Tata The house of Tata is a family enterprise that was established in the year 1868. Having been established as a trading organization, the firm evolved over time to expa nd and diversify its operations in different sectors. Just six years after its establishment, the firm turned into dealing in textiles. The company also expanded in its financial capacity and was able to establish a luxury hotel in the country in the year 1903. Four years later, the firm established a steel company. Though the firm then took time before entering into another venture, it made a major step in the year 1932 to own an airline. The house of Tata also developed a subsidiary firm that, in the year 1968, deals in software. Besides its economic significance, the Tata group has been identified as a socially sensitive enterprise following its participation in charity activities. By the year 1938, the group had expanded to thirteen companies following the ventures that established its subsidiaries. One of the administrative approaches that the group developed under J. Tata as its chairman was the autonomy that the subsidiaries were granted. A level of independence in management was advocated for which led to the group’s firms expanding to overlap in their products. By the end of J. Tata’s reign as the group’s chairperson in the year 1991, Tata group had expanded from thirteen companies to three hundred companies. The entrance of R. Tata in the year 1991 to head the group was characterized with a lot of change in the organization. Ratan managed to revive some of the organization’s subsidiaries that were not stable such as the steel company and the motors company. He also restructured the firms many subsidiaries to work in groups that were based on the type of products offered. His restructuring reorganized the group into sectors that were â€Å"information systems and communications; engineering; materials; chemicals; consumer products; energy; and services† (Khanna, Palepu and Bullock, 2009, p. 2). Some of the company’s later significant developments have been international ventures through acquisitions and merger s with foreign companies (Khanna, Palepu and Bullock, 2009, p. 2).Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Contemporary issues facing the company The long time duration in which the Tata group has existed has been characterized with features of opportunities, threats, strengths and even weaknesses. One of the issues that have been evident with the group, with specification to the Tata motors, has been its exploration and existence in the global market (Tata, n.d., p. 1). The group has a record of entry into the international market since the beginning of the twenty first century. The move by the company that includes acquisitions and integrations has been its strategy for exploration of and expansion into markets. The bid by the company to acquire Jaguar and Land Rover that were out for bids in the United States was an example of such explorations. Surowiecki reports that by the ye ar 2008, Tata Company had not explored the motor vehicle industry in the United States and its brand of product were not even available on the American roads. Though the company had a strong history with productions in India, it was not even yet known in the United States. The company’s dominance in its domestic market without any significant feature in foreign markets such as the United States and European markets, according to Surowiecki were due to the economic environment that surrounded the global market (Surowiecki, 2008, p. 1). Another international move by Tata motors was its partnership with MG rovers of Britain in the year 2003 that enabled the company to explore the European market. This move led to the introduction of â€Å"the Indica into the European market as the CityRover† (Khanna, Palepu and Bullock, 2009, p. 11).  In the partnership, Tata exported the brand of vehicle that was then sold in Europe by MG motors. Other acquisitions and partnerships wer e made with respect to companies in countries such as Spain, Brazil and Korea among others (Khanna, Palepu and Bullock, 2009, p. 14). The compa ny’s engagement in international trade is still on its course with an increasing trend being registered in the company’s exportation of vehicles. In April 2010 for example, the company exported one unit of a Nano brand of car that it had developed. The level of exportation of the same brand grew to reach four hundred and ninety eight by April 2011. The company is also reported to be making plans to further expand its international influence with plans to establish production units in regions such as the Latin America and Africa. Marketing techniques to expand its market in the already explored areas are also international avenues that are still being explored (News, 2011, p. 1).Advertising We will write a custom report sample on TATA Company’ International Business specifically for you for only $16.05 $11/ page Learn More Apart from the direct establishment of the company in the external markets, it has been deriving mutual exchange of expertise from the regions in which it expands. Acquisitions have for example been relinquishing technological rights to the company. The company has also to a great extent benefited from exchanging its management within its structure in different regions. A movement of a manager from one environment to another will lead to transfer of skills to the new region (Tata, n.d., p. 1).  There are also a number of issues that face the company in the form of weaknesses. One of such is the brand of vehicles that the company has been producing. Its brands have been associated with middle economic class which can not afford expensive cars. The brands are also outdated in the environment that has realized innovations from competitive companies. With the availability of many companies in the motor industry in the Indian market and the competition pr ovided by international automobile producers, the company has been struggling to cope with the market that is influenced by new car models in fashion (Research, 2009, p. 7). Also significant among the issues facing the company is the quality of its products in relation to those from other producers in the industry. A survey that was conducted over manufacturer’s ratings in the motor vehicle industry reveals that the company is not among consumer’s favorites. The result of the research that was based on factors such as â€Å"safety, quality, value, performance, environmental friendliness, design and technology† revealed a preference of other manufacturer’s vehicles as opposed to those of Tata. In relation to safety of vehicles, there are competition from brands such as â€Å"Volvo, Ford, Subaru† among others that are rated above Tata (Consumer, 2010, p. 1). Quality also rates brands such as â€Å"Toyota, Honda and Ford† among others as prefer red and value ranks â€Å"Honda, Toyota and Ford† among others in the level of preference (Consumer, 2010, p. 1). With brands such as those of Toyota, Honda and Ford among others being preferred over Tata with respect to all the aspects of the research, it is a clear indicator that regardless of the lower price of the Tata brands, they might not be preferred among those that have enough money to purchase the brands such as Toyota which have also diversified to realize production of cheap car models. The lowly priced productions of the company which has been associated with inefficiency with respect to aspects such as safety, value and quality among other car properties has thus in the long run worked to the disadvantage of the company. Other companies in the motor vehicle industry therefore have the capacity to beat Tata both in the international market as well as in India which the companies have infiltrated (Consumer, 2010, p. 1).Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Another survey that ranked vehicle brands with respect to number of problems registered per one hundred vehicles also reveals lack of efficiency in the vehicle model. According to the survey, Honda closes the list of top five with ninety nine problems registered out of every one hundred vehicles sampled. Tata vehicles are therefore characterized with at least 100 problems per 100 sampled vehicles. This reveals a probability that each and every Tata brand of vehicles have problems. Such cases of problems associated with its vehicles may turn customers away from the company’s brands (Top, 2011, p. 1).  Tata together with the entire Indian auto mobile industry has also been criticized with poor strategy in its attempt to acquire market for its products. Though the company has realized growth in market control, it is feared that this influence could be short leaved. The company has been criticized for not employing modern technologies in its production and marketing processes. One of the poor strategies that have been realized of Tata is the offensive move to counter competition that it realizes in the market without appropriate long term plans. A move that Tata has not yet identified though is perceived to be of great benefit to it is the reduction in its expenditures and development of the quality of products that it offers (Rediff, 2004, p. 1). Weaknesses facing the company are also reported to include lower return on investment which gives reflection of low profitability. The company’s sales in India are also reported to be less than its targets besides its inability to capture the market of luxury cars (MBA, 2009, p. 1). The issue of Tata’s acquisition of Jaguar and Land Rover Though Tata has had a past of acquisitions and mergers with other companies especially in the bid to expand its market influence, it ought not to acquire the two brands of vehicles, Jaguar and Land Rover. Available options to Tata group Though the Tata group has m ajorly resorted to mergers and acquisitions in its bid to expand, especially to the international market, it in general terms has a variety of options for expansion of its market in foreign countries. Ansoff’s growth matrix One of the strategies that the group can adopt is the matrix approach that is based on consideration of both market forces and the organizations products. Under this approach, considerations are made with respect to existing markets and products as well as possible new markets and products. The approach then gives rise to elements such as â€Å"market penetration, product development, market development and diversification† (Action, n.d., 1). Market penetration: market penetration refers to the move by a firm to increase its control of an existing market. Under this move, the Tata group can make efforts to capitalize on the control of its domestic market that it has experienced and has good knowledge of. This approach may be less risky and relativel y cheaper for the company as compared to the acquisitions that are directed to new and distant markets from the firm’s original location. Market development as an approach to the matrix method on the other hand entails the introduction of an organizations existing product into new markets. The market could be the organization’s domestic or a foreign one. Under this approach, the group can resort to exploring its unexploited markets in terms of geographical regions and social classes. It can take its products to these markets and employ marketing strategies to increase its sales in these markets. This, if successful can enable the company to increase its sales and hence its revenues and profitability.  Product development on the other hand establishes new products into an existing market. With this approach, the firm can enter into innovations of new brands of commodities such as its own initiatives into new brands of luxury vehicles for example. With its originality, the organization can then take advantage of the good will that it has over time developed in India and its other markets. Following the company’s ability that has given it market share in the past, its newly introduced products will be acceptable and even perform better if they are associated with developed quality and efficiencies. Tata can similarly introduce its new products and venture them in entirely new environments. Such could have been the case instead of acquisitions. The company could have been introducing its originally invented products into markets such as the United States, Europe and even other regions like Latin America and Africa. The diversification approach can be in the organization’s lines of production or can be ventures into other lines such introduction of a different commodity (Action, n.d., 1). Franchising and licensing The use of franchising and licensing over intellectual property is another avenue that the company can employ to help it im prove its revenues. With relatively less investments into inventions, the company can earn from contracts over its intelligence. The advantage behind franchising is the fact that it is not capital intensive and is therefore less risky once the property is established. Such moves will also help Tata in developing capacity into innovative moves for more quality products (Action, n.d., 1). Public equity Generating funds from public investors into major development steps that could only be unaffordable to the company can also be a strategy. Given enough resources such as finances, the firm can for instance have the capacity to develop new brands and their manufacturing sites in its domestic and foreign markets. Direct ventures such as increasing its direct exports into foreign markets are also a positive move (Action, n.d., 1). Foreign direct investments Another venture that Tata could have adopted in its initiative to diversify into international market is through foreign direct invest ments into its target countries. With the general wave of countries encouraging for foreign direct investments with even government initiatives to facilitate the same, Tata could take the advantage to establish its production units in foreign markets (Bento Joao, 2009, 2). Evaluation The decision against Tata’s acquisition of the two models is based on the circumstances that have surrounded the vehicle brands. One of the issues that clouded the acquisition of the brands is the economic downfall in the brand’s dominant markets which is the United States and Europe. With the melt down, Tata company was undertaking a risk that could impact its financial stability. This is because the vehicle brands had in the first place been associated with significant loses and coupled with the poor economic status in their markets; Tata stood a risk of failing to recover its investments in the two brands. The currency factor that would over time change due to cross border transactions also posed a threat to Tata’s financial interests in the transaction. The move thus put Tata’s profitability at great risk (Icmirida, 2008, p. 7). Another challenge to the acquisition would be the barriers in the culture between the operational set ups of the acquired brands and that of Tata’s India. In India for instance, there is an established culture that any business that is crumbling can be revived even under limited resources and poor business environment. Though this is a good philosophy, it is not very promising in environments where productions are based on efficiencies and resource limitation is not a factor. The two brands that are at their poor financial states might not be successfully revived to a competitive level with other European and American brands as would be possible in India where domestic competitors depend on the philosophy (Thite, Wilkinson and Budhwar, n.d., p. 2). The poor quality production reported of Tata, that could be associated with its Indian philosophy of working under limited resources, could as well pose a threat to the development of the already loss oriented car brands. This is actually significant in the environment where unlike India, quality is given preference. The investment might therefore not pick up to sustainability (Hall, 2011, p. 1). The general trend that was adopted by the firm in its move to venture into the international market appears to be more risky relative to other available options for expansion into international markets. Measures such as the growth matrix and exportation allow an investing entity a basis of originality that could drive well among customers. Direct foreign investments that are well initiated with established authority and rights of the investor are another positive avenue for expansion. Acquisitions and mergers especially with entities that are not profit making in on the other hand a more tasking initiative (Action, n.d., 1), (Bento Joao, 2009, 2). Recommendat ions Regardless of the company’s moves to expand its market control in the motor vehicle industry, it is still faced with problems such as inefficiencies in its production processes leading low quality products. The company should therefore develop a strategy into transforming its operations to be in line with the level of technology and quality in the market. This will help the company’s products to gain preference among consumers. The company should also take measures to directly improve its image in the market. Contrary to moving to have acquisitions as a strategy to increasing its sales, the company should concentrate its efforts on marketing its cheap brands in developing country where customers might resort to lower cost as opposed to expensive brands. The company also has better and safer approaches into the international market. Instead of rushing into acquisitions and mergers, the firm can independently make avenues into the international markets. Foreign dire ct investments, exportation and market expansion would be better for the Tata group of companies. Conclusion The Tata group having been established as a family business developed over time to have independent subsidiaries. Its development has also included diversification of its market by acquiring enterprises in international markets. The company is however characterized by a weak system that produces poor quality products. Its move to acquire Jaguar and Land Rover don’t seem to be a good move following its weaknesses and the threats that such acquisitions are associated with. On the contrary, the firm should have adopted other techniques in exploring the international market. References Action. (n.d.). growing your business- growth and expansion. Available from: http://www.ace.org.sg/Site/Page.aspx?id=00000000-0000-0000-0000-000000013421. Bento Joao. (2009). Economic Integration, International Trade and the Role of Foreign Direct Investment: The Case of Portuguese Manufact uring. Berlin, Germany: LIT Verlag Mà ¼nster Consumer. (2010) Most important factors in buying a car. [Online] Available from: http://www.consumerreports.org/cro/cars/new-cars/news/2010/01/2010-car-brand-perceptions-survey/most-important-factors/brand-perceptions-most-important-factors.htm Hall, W. (2011) Jaguar Land Rover: Halewood makes its case. [Online] Available from: http://www.ft.com/intl/cms/s/0/41a5ef84-8dbf-11dd-83d5-0000779fd18c.html#axzz1NflZEKu0 Icmirida. (2008) Tata motor’s acquisition of Jaguar and Land Rover. [Online] Available from: http://www.icmrindia.org/casestudies/catalogue/Business%20strategy/BSTR313.htm Khanna, T., Palepu, K and Bullock, R. (2009) House of Tata: Acquiring a global footprint. New York: Cengage Learning. MBA. (2009) TATA motors swot analysis. [Online] Available from: http://www.mba-tutorials.com/marketing/251-tata-motors-swot-analysis.html News. (2011) Nano goes global as Tata Motors begins export. [Online] Available from: http://ne ws.24by7info.net/nano-goes-global-as-tata-motors-begins-export/ Rediff. (2004) The big threat to Indian autos. [Online] Available from: http://www.rediff.com/money/2004/sep/21guest2.htm Research. (2009) Automobile sector. [Online] Available from: http://www.slideshare.net/Nisha08/research-3372818 Surowiecki, J. (2008) The Tata invasion. [Online] Available from: http://www.newyorker.com/talk/financial/2008/01/28/080128ta_talk_surowiecki Tata. (n.d.) SWOT Analysis-Tata motors limited. [Online] Available from: http://www.marketingteacher.com/swot/tata-motors-swot.html Thite, M., Wilkinson, A and Budhwar, P. (n.d.) Internationalization of India Inc. [Online] Available from: https://www.google.com/url?sa=tsource=webcd=2ved=0CCgQFjABurl=http%3A%2F%2Fwww.shrm.org%2Fabout%2Ffoundation%2Fresearch%2FDocuments%2FThite%2520India%2520Paper%25204-11.docxrct=jq=acquisition%20of%20jaguar%20by%20tata-%20cultural%20barrierei=ejjhTY_9C4rAhAfU09HWBgusg=AFQjCNGGw6IcSVzGg87ej21DtOKdnTxz8wcad=rja To p. (2011) The top 5 car brands with the least quality problems. [Online] Available from: http://www.top5ofanything.com/index.php?h=24788248 This report on TATA Company’ International Business was written and submitted by user Jillian Farmer to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Nike Corporations Marketing Strategies and Objectives

Nike Corporations Marketing Strategies and Objectives Purpose and Mission Two university students, Philip Knight and Bill Bowerman in the Early 1964, founded Blue Ribbon Sports, a company that later changed its name to Nike, Inc. in 1978. The company trades mainly in sportswear and equipments. It was founded in Beaverton, Oregon a small part of Portland.Advertising We will write a custom report sample on Nike Corporation’s Marketing Strategies and Objectives specifically for you for only $16.05 $11/page Learn More This is the very same place where the headquarters of the company is situated. From its humble beginnings, the company has grown to become the leading sports label in the entire universe (Rodman 126). Initially, the company only operated in the United States of America. At the present moment, it is operating in over 160 different countries. It has employed over 30,000 individuals directly who operate in the six continents of the world. Furthermore, it has an indirect involvement of over 1millio n individuals who depend on the company. This includes shipping and warehousing employees, marketers, suppliers, retailers and other individuals who are involved in the supply chain of the company`s products (Nike, 2011). If you have a body, you are an athlete: this is the motto of Nike, Inc. (Nike, 2011). This observation was made by Bill Bowerman who used it as an inspiration to create products that would take the talent and enthusiasm of athletes to another level. These very same words are an inspiration to the employees of Nike, Inc. They lead them in meeting the needs and desires of their customers. In the process, they have been able to maintain the legacy of the company making it stand ahead of its competitors in terms of creativity and innovation. The company`s mission is to bring inspiration and innovation to its customers (Nike, 2011). Employees of Nike, Inc. work hard to ensure that this mission statement is realized. To achieve this, the company has set up several object ives in the course of its operations. These objectives not only work to attain the mission and vision of the organization but also ensure that the company is viable in the market. At the present moment, the objective of the company is to supply its customers with state of the art sportswear and equipment that will take them to a new level of excellence (Nike, 2011). With the highly qualified staff, well set priorities and objectives, the company has become a leader in the industry. Through out its operation, the company has established a strong portfolio of brands that are highly recognized and respected in the market. The company started off as a distributor for a Japanese shoe making company, Onitsuka Tiger (now ASICS). Since then, it has grown and developed several brands of its own. These include: Nike Golf, Nike Pro, Nike+, Air Jordan and Nike Skateboarding. Other subsidiary brands include: Cole Haan, Hurley International, Umbro and Converse (Nike, 2011).Advertising Loo king for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The actual customers of the company are the athletes from all around the world. The company has commanded a strong market share by diversifying its products to accommodate athletes of all sports. This includes soccer, football, basketball, tennis, track and field, baseball, golf, hockey and so on. The company supplies these athletes with sportswear and equipment. At the same time, the company has also been targeting the public by supplying them with comfortable sportswear. This initiative has been successful and at the present moment, Nike is the most famous sportswear label in the universe. The company has been facing a lot of competition from other rival companies. Adidas, Reebok, Fila, Fubu, Dada, Wilson and so on are among the main competitors of the company. Despite the stiff competition that Nike is facing, the company has been and still is the lea der in the market. It operates in over 160 different countries (Kim 14). Situational Analysis Since its incorporation, Nike, Inc. has been able to identify its strengths, weaknesses, opportunities and threats. The main strength of the company is its large market share coupled with the competitive advantage that the company has over its rivals. As stated earlier, the company is well established in the industry. It supplies athletes in various sports with sportswear and equipments. This ranges from apparels, footwear, balls and other equipments that are necessary for sports. The high quality products that the company has been supplying to these athletes have created a tight relationship between the company and its customers. Due to this, consumer loyalty has developed. This has led to high rates of consumer retention and acquisition of new customers. At the same time, the company has expanded its markets. It is now targeting not only athletes but also the entire population. This move has increased its operation. Due to this fact, the company is now operating in over 160 countries worldwide targeting almost every individual regardless of their age or sex. This has boosted the operations of the company by increasing the total revenue that it collects. Despite this, the company has some weaknesses. First, the products the company is producing are somehow expensive to individuals who are living in developing countries. Due to this fact, only a small portion of the population in these countries is able to afford their products. To work on this, the company has introduced new brands that are of high quality but affordable by majority of its customers. This move was initiated to fulfill its mission.Advertising We will write a custom report sample on Nike Corporation’s Marketing Strategies and Objectives specifically for you for only $16.05 $11/page Learn More Nike, Inc. is the most popular sports brand in the world. At the same time, th e management of the company has been effective and efficient since it was incorporated. Due to this fact, the company has had the opportunity to grow and expand its market. As a result, the company has been able to take advantage of this opportunity and increased its market size. Due to this fact, the company has found it easier to enter into new markets and command a large market share. However, the company has been facing several threats in the course of its operations. First, it has been facing stiff competition from its rivals. This includes companies like Reebok, Fila, Fubu, Dada, Adidas and Wilson. This creates a lot of pressure that in turn reduces the revenue earned by each company. At the same time, there have been allegations that Nike has been contracting with manufacturing industries that offer poor working conditions for its employees. These companies are mainly situated in Asia (China, Vietnam and Indonesia). Due to this fact, Nike, Inc. has been facing a lot of critic ism from humanitarians and other welfare organizations. This threat has raised negative attitudes to its customers. To its response, Nike, Inc. ensured that all employees in the contracted companies have a conducive working environment and receive desirable wages that reflect the work that they have done. In the course of its operations, external micro and macro factors have been affecting the operations of the company. Over the years, the company has been producing high quality products and meeting the requirements of its customers. Due to this fact, the demand for its products has been increasing drastically. During the early 1970s, the company was only operational in the United States. However, the demand for its products has increased globally. To meet this demand, the company has expanded its operations to over 160 different countries. To ensure that its operations are effective and efficient, the company has increased its factors of production. It has qualified personnel, uses high tech equipments and employs innovative ideologies in its production process (Kim 21). Due to this fact, the company has been able to meet the demand of its customers, earn consumer loyalty and attract new customers. To meet the ever-changing needs of its customers, Nike, Inc. has been incorporating state of the art technology in its products and operations. Nike Air, for example is one of their brands that uses sophisticated technology to reduce the chances of occurrence of harm to a user of this product.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More It contains a special gas known as Nike gas that flattens out and expands depending on the pressure that the shoe is experiencing (Kim 33). This reduces the chances of injury and increases comfort while using the shoe. At the same time, the company has incorporated the use of IT and ICT in its operations. This has made the running of operations within the company to be smooth. Due to its efficiency, the company has been successful in boosting its production and increased its revenue (Kim 6). Marketing Strategies and Objectives To achieve its mission, Nike has employed a number of strategies and objectives. Due to this fact, Nike, Inc. has maintained its standards of producing quality footwear and sports equipments to individuals and institutions of all ages and lifestyles. At the same time, the company has come up with measures and strategies that ensure that their products are easily available to their clientele. To achieve this, Nike, Inc. has a long-term corporate goal that aims at improving its stockholders return on equity by 20% and increases the earnings per share by 2.7% (Kim 21). This will ensure that the company growth in the company is coupled with gains in terms of shares and revenue. In this respect therefore, Nike Inc has a grand strategy that aims at increasing the quality of its products to meet the needs of all their customers all around the world. This will ensure that the company maintains its position as a leader in the market. Currently, Nike Inc is at the cash cow stage under the BCG matrix model. It is experiencing a great return on its capital. To ensure that the company continues to expand and remain sustainable in the short run and the long run, the company has put a lot of emphasis on research and development, incorporation if technology and ICT, improved consumer services and expansion of its markets (Kim 11). In addition, the company has formulated a number of marketing and pricing strategies. Tactical Programmes The main marketing objective of Nike, Inc. has been its expansion into new markets. To understand the consumer behavior in these new markets, the company normally hires a research firm that was familiar with the region. These firms critically analyze the markets and identify the factors that would motivate consumers to purchase athletic equipments and footwear. This information therefore makes it easy for the company to enter and command these markets. The pricing mechanism of the products is determined by the consumers` purchasing power, competition and value of their currency. Advertisement is the main method that the company uses to market its products. This is achieved by sponsoring local sports and athletics events, running adverts in the media, offering of rebates and discounts on their products and running of fashion shows that showcase their latest products (Kim 13). Monitoring and Control To ensure that there is a smooth running of the organization, the company has to monitor and control all its operations. To achieve this, the company has internal and external control systems that ensure that all the operations that are conducted at the company are in accordance to the set rules, regulations and standards. At the same time, the company has specific goals and objectives that have to be achieved within specified time periods. The company also has a budget that controls its revenue and expenditure. It also has copyrights for its products and logos. This protects their brands and properties from unfair competition and counterfeits. Kim, Enderle. Strategic Analysis of Nike, Inc. Chicago, IL. DePau University: 2000. Nike. Nike, Inc. Official Cite: World`s Leading Athletic Brand. Nike, Inc. Web. Rodman, Thomson. Market Planning and Analysis. New York: Sage, 2006

Capital Budgeting Decisions

The purpose of the report is to help the GM (A Large Carpentering Firm) to take the investment decision. GM wants to replace one of its existing sawing machines with the new one. For this purpose, two alternate sawing machines are considered, machine A is fully automated while machine B operates on standard technology. The problem is to find out which machine will be best suitable for replacement through using capital budgeting techniques such as NPV, IRR and pay back period method. There is clear objective to evaluate proposed Machines (A and B) with the help of various techniques of capital budgeting techniques. Another purpose is to guide management of GM on selection of best alternative through applying practical as well as theoretical aspects of capital budgeting. In order to evaluate the Machine A and Machine B through using capital budgeting methods, following methods have been used. Pay back period method is one of the most used methods used for capital budgeting decisions. It measures the length of time required to recollect the expenses made on the project in first year. It helps to analyst to know whether to undertake the project or not. Longer pay back periods are not desirable for investment purpose as compare to project where cost of project is recovered in less time (Brigham and Ehrhardt, 2011). This method does not consider time value of money and cash inflows are subject to any present value factor as in case of other methods. In case GM firm, Mr. David wants to evaluate two machines on pay back period basis. Calculations are as under: Pay Back Period of Machine A: 4 years + [(660,000-644,000)/ (1,094,000-644,000)] years   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   = 4 years +0.053 years   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   = 4.053 years Pay Back period of Machine B: 3 years + [(360000-304000/ (390000-304000)] years   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   = 3.65 years Net present value is the difference of present value of cash inflow and present value of cash outflows. This method is used in capital budgeting decisions and helps in evaluating the profitability of project or investment. This method considers time value of money, so, it is regarded as one of best method to evaluate the project for capital budgeting purpose (Pratt, 2010). Net Present Value of Machine A: Present value of cash inflows for Machine A – Present values of cash outflows for Machine A   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   = $ 718,132.88 - $ 660,000  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   = $ 58132.88 Net Present Value of Machine B: Present value of cash inflows for Machine B – Present values of cash outflows for Machine B   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   = $ 43483.24 Internal rate of return refers to an interest rate where all the present value of cash inflows and cash outflows become zero. This interest rate is the rate at which project will earn if that project is selected (Drake and Fabozzi, 2012). This method of capital budgeting is used to analyze the attractiveness of the project. Project or investment is selected in case IRR is more than the firm required rate of return. Project or investment is rejected where IRR is less than the firm required rate of return. In the case of GM Company, the required rate of return is 13 %. On analyses if it has been found that IRR of Machine A or B is greater than that machine will be selected which has highest IRR (Fridson and Alvarez, 2011). On the basis of above analysis, the key findings are as under:   $  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   58,132.88 Rankings of Machines as per the method On the basis of various factors and ranking procedure applied to choose either machine A and B, it is concluded that GM firm must invest in Machine B to receive the outflows in less time period with highest IRR. As regards to NPV, Machine A has to be selected but it is also true that both machines have positive NPV (Staubus, 2013). There are many other factors that firm must considered while taking the investment decisions. Every investment requires outflow of cash at the beginning keeping in mind that such investment will provide higher benefits in future years (Bull, 2007). Therefore, decision related to plant and machine must be evaluated using capital budgeting methods but it is also important to consider factors like technology used in machine, other cost related with machine and functional capacity of the machine. In case of GM firm, Mr. David should consider following factors: Brigham, E. F. and Ehrhardt, M. C. 2011. Financial Management: Theory and Practice. Mason: Cengage Learning. Bull, R. 2007. Financial Ratios: How to use financial ratios to maximize value and success for your businesses. Elsevier. Drake, P. P. and Fabozzi, F. J. 2012. Analysis of Financial Statements. John Wiley & Sons. Fridson, M. S. and Alvarez, F. 2011. Financial Statement Analysis: A Practitioner's Guide. John Wiley & Sons. Menicucci, E. 2014. Fair Value Accounting: Key Issues Arising from the Financial Crisis. Springer. Mumba, C. 2013. Understanding Accounting and Finance: Theory and Practice. USA: Trafford Publishing. Pratt, J. 2010. Financial Accounting in an Economic Context. John Wiley & Sons. Staubus, G.J. 2013. The Decision Usefulness Theory of Accounting: A Limited History. Routledge.

Organizational Ethics Essay Example | Topics and Well Written Essays - 750 words - 1

Organizational Ethics - Essay Example External social pressures have both positive as well as negative impact on the ethics of an organization. The social expectations are meant to be given more importance by the company as this leads to better performance or downfall of the company. These social pressures are such that it bounds a company to give special consideration to the expectations of the society in terms of involvement in general community or performing responsibility towards the environment. The positive impact of this social pressure is that it enables a firm to work for a cause and deliver the best of services to its customers. As in the case of 21st Century Insurance where the main focus of the management is to meet the demands of their customers so that they work for the well being of their customers. On the other hand the negative impact of such external social pressures is that it greatly affects the decision making process and enforces the management to take decisions or take certain factors into account which currently was not being planned by the organization. This negative impact has been observed in the case of 21st Century Insurance where it had to implement strategies so as to meet the social expectations. ` The concept of ethical approach is essential in organizational or personal context as it helps to resolve many issues. The major factor of its importance is that it helps to design a framework within which an organization can operate. It even facilitates decision making process through its proper guidance in terms of analyzing what is wrong and what is right. The external social pressures help an organization to understand the expectations of the society and the responsibilities that they have towards the society so as to enhance the overall societal improvement. The decision making process gets simpler through these issues as it enables an individual to understand the

Why did Barack Obama win the US presidential election in 2008 Essay

Why did Barack Obama win the US presidential election in 2008 - Essay Example Despite this, Barack Obama won the US presidential election in 2008 because he was able to capitalize on a sense of fatigue with the disastrous presidency of George W. Bush and instill a sense of hope to Americans throughout the country. George W. Bush’s foreign polices were his downfall and the following will demonstrate how Bush paved the way for President Obama. Without the disastrous presidency of George W. Bush, the election of Barack Obama probably would have never happened. George W. Bush was arguably the worst president in the history of the United States of America. In the aftermath of the attacks of September 11th, 2001, George W. Bush did more to ruin the international reputation than any other American president in living memory. Accordingly, American unilateralism has been both an explicit and implicit policy of the present Bush Administration since the aftermath of September 11th 2001. Although the United States has historically been committed to multilateralism, collective decision-making and international rules of law, in recent times the United States has rejected foreign policy precedent and has engaged in direct military action on a unilateral basis. Former US President Woodrow Wilson espoused multilateralism as a cure to the world’s ills and believed that concerted diplomacy, best channeled through international non- governmental organizations like the League of Nations (the precursor to today’s United Nations), was the best way to avoid international conflict and violence. Collective bargaining and international coordination in global affairs has a long and storied tradition in the United States. Arguing that the rules of the game had changed in the post-Cold War and post-9/11 world, George W. Bush’s famously remarked that â€Å"you are either with us or against us† and set the stage for American unilateralism on a global

International Business and Global Strategy Essay Example for Free

International Business and Global Strategy Essay In-Depth Market Analysis of two target markets: China and Argentina China is a great world exporter receiving large amounts of foreign investment and is a member of the World Trade Organization (WTO). Entering the market therefore will be easier than when China was not part of the WTO. According to The World Fact Book (2010) by 2009, China had a population of 1. 34 billion. Although its population growth is not very high at 0. 49, the population is the highest in the world and provides for ample market for Body Shop International Plc (BSI plc. ). China has an income distribution of 51. 10. This indicates that the distribution of purchasing power is standardized. BSI plc does not have to specialize in its clientele and can anticipate a wide market for its products. China’s mean age stands at 35. 2. In the age demographics, China’s largest age bracket is the 15-64 yeas age category. This makes up for 71. 9% of the population as in 2008 where men were estimated at 491,513,378 and women at 465,020,030 (The World Fact Book. 2010). For BSI plc this creates a large market since beauty products are usually consumed by this age group. In terms of education, China population is educated with a literacy rate of 92% (The World Fact Book. 010) . The overall enrollment for elementary, secondary and higher education is at 69. 1. This is a good indicator that beauty products would be well received and are a part of the population that can appreciate its use. China’s growth of the Gross Domestic Product (GDP) was at 8. 70 in 2009. This GDP has been on a rising trajectory and is expected to continue as China continues to rise as an economic power. This provides for a secure market with good financial indicators that investment would respond favorably and quickly. The per capita gross income at 6600. 0 is also high making it easier for BSI plc to invest widely. The disposable income at 2. 60 represents a China’s purchasing power. BSI plc would be able to promote its products and the conditions are favorable for household spending. The continued rise in GDP growth will increase the spending habits of the population as the disposable income becomes more elastic. Inflation would negatively affect BSI plc and that is why the low inflation rate in China provides for market security against rising of prices. In china the population has continued to increase its cosmetics buying. At 46. 80 the population indicates a sizable spending on cosmetics. This creates a potential for BSI plc to garner a market share. China presents some difficulties in terms of ease of conducting business and economic freedom. However, foreign investment is still welcome and the government has opened the doors for foreign investment. Argentina is one of the countries in South America that have been experiencing economic growth. It therefore presents itself as a great target market. Its population of in 2009 was 40. 1 Million. The population growth is not very high at 1. 17 but the country has a viable market population. Argentina has an income distribution of 51. 90. This indicates that the distribution of purchasing power is high and standardized. BSI plc therefore can anticipate a wide market for its products without having to cater for a specialize clientele. Argentina’s mean age stands at 30. In the age demographics, Argentina’s largest age bracket is the 15-64 years at 63. 5% with the men standing at 12,961,725 while the women stand at 13,029,265 (The World Fact Book. 2010). For BSI plc this creates a large market since beauty products are usually consumed by this age group. According to The World Fact Book (2010) Argentina population is educated with a literacy rate of 97. %. This is a good indicator that beauty products would be well received and are a part of the population that can appreciate its use. Argentina’s growth of the Gross Domestic Product (GDP) was at 0. 20 in 2009. This GDP is low. This provides for a less secure market whereby BSI plc’s investment may take longer to respond favorably and quickly. Despite the global economic crisis Argentina and most of the Latin America were not acutely affected. The per capita gross income at 10200. 0 is also high making it easier for BSI plc to invest widely. The disposable income at 1. 0 represents a moderate purchasing power for Argentina. BSI plc would be able to promote its products as the conditions give room for moderate household spending. Inflation would which would negatively affect BSI plc stands at 4. 20. In Argentina spending on cosmetics has also increased although it is at 25. 40. This means BSI plc still has potential to make an investment in Argentina’s existing market. At 127. 0 Argentina represents favorable ease with which BSI plc can do business in Argentina. It also has good economic freedom. Foreign investment is welcome. Contacts and Competitive Analysis  Contacts are important in that they would allow BSI plc to gather information that is relevant to its venture. That is why the chamber of commerce assists foreign companies conducting business their country. It also offers its members relevant business contacts and information about Argentina. Through events and opportunities the Chamber also enables businesses to meet with government officials and key players thus facilitating relations. Contact with the ministry of foreign affairs is also important to BSI plc. The ministry is responsible for trade agreements and policies. By having the Ministry’s contacts, BSI plc can make necessary plans to attend and benefit from the ministry’s consular and diplomatic activities. As the ministry seeks businesses and companies that would increase investment in their country, BSI plc would have an opportunity to market itself to the target countries. Contacts of possible suppliers, importers and buyers are helpful so that a company can establish business relations within the industry. The choice of Alibaba Company is ideal in that it is a recognizable global distributor with very strong financial and corporate growth according to Alibaba. om. (1999-2010). China Target Market potential The market potential in China is quite high at 2530500000. This is calculated from number of potential consumers, the frequency with which the consumers buy in a year and the price of the product. This represents the potential of the cosmetic industry in China which BSI plc targets. Company Sales Potential BSI plc sales potential is dependent on the market share it will capture out of the potential market. If BSI plc secures a market share of 13. 5 %, it will estimate whether it can meet the demand of its target. Competitors Analysis  Lush Company provides competition for BSI plc. According to Lush (19950-2010) its main product is body butter. The location of its headquarters is in China providing it with advantages of proximity. BSI plc is localized and thus there are policies that favor it against foreign companies. This helps it keep its prices affordable. Lush has been in business for the past 32 years giving it long experience in the industry. Lush Company caters to the local market in China and has specialized in the product demands of the local population and tailored the product to suit the particular needs of the Chinese target market. Its employees number 1200 giving it good human resource. Lush has also invested in e-commerce offering customers its products even where it does not have retails and wholesaler stores. They vary their prices in response to the market. In their promotion strategy Lush aims to protect its reputation and maintain its image. Their products they have chosen to use to promote the quality of their product is care butter, Tuca Tuca perfume, Tuca Tuca massage oil, and Black stocking. Regulatory Environment for the industry In China, the regulatory environment would regulate cosmetic products. This is because although a company would use the Automatic import licensing granting its cosmetics products freedom from import controls, the importation of materials like plastic need monitoring. FDI regulations and implications for BSI plc China is becoming the greatest receipient of FDI and as such it is poised for economic growth and increased capital that places BSI plc in a great position for growth if it makes investment. The government regulates foreign investment according to WTO regulations and its economic goals where China is now quite open to and is keen to attract foreign investors. Argentina Target Market potential The market potential in Argentina is high at 41250000. This is calculated from number of potential consumers, the frequency with which the consumers buy in a year and the price of the product. This represents the potential of the cosmetic industry in Argentina. Company Sales Potential BSI plc sales potential is dependent on the market share it will capture out of the potential market. If BSI plc secures a market share of 3. 5 %, it will estimate whether it can meet the demand of its target. Competitors Analysis L’ Occitane Company provides competition for BSI plc. Its main product is mini shea butter/L’ Occitane body toner. According to The body Shop (2009) BSI plc deals with sweet almond oil in its moisturizers. The location of its headquarters is in Argentina providing it with advantages of proximity. BSI plc is localized and thus there are policies that favor it against foreign companies. This helps it keep its prices affordable. L’ Occitane has been in business for the past 34 years giving it long experience in the industry. L’ Occitane Company caters to the local market in Argentina and has specialized in the product demands of the local population and tailored the product to suit the particular needs of the Argentinean target market. Its employees number 2000 giving it great human resource. L’ Occitane has also invested in e-commerce offering customers its products even where it does not have retails and wholesaler stores. They vary their prices in response to the market. L’ Occitane uses advertising, personal sale and product promotions as its promotional strategy. The products it uses include shea cocoa butter, Almont body care, verbena liquid soup honey and lemon scented and summer Travil Hair care. Its target market is 14 years and above both male and female. Regulatory Environment for the industry In Argentina, one of the key regulations would be in business conduct and tradition. Companies have to publish their Technical barriers to trade (TBT) measures. It contains duty and obligations related to the business and operation of TBT investigation Points. Companies have to confirm their recognition of the Code of Good Practice. Argentina the Bureau of Customs is the governmental agency is strict in the enforcement of the tariff and Customs laws and regulations. Importation of goods is governed by a numerous of import policy. FDI regulations and implications for BSI plc Argentina is currently not attracting much foreign investment due to its slow economic development and inflation rate. Although the government is using the WTO regulations and working hard to increase investment, there is difficulty for foreign companies because of high interest rates.

Tiger Woods :: essays research papers

Tiger Woods Tiger's Real Name: Eldrick Woods. The nick-name "Tiger" was given to him by his father. It's the same nick-name of a South Vietnamese combat buddy, Nguyen Phong, who saved Tiger's father's life a few times in the Vietnam War. Rumor had it that Tiger was planning to official change his name to Tiger Woods when he turned 21 this past December but sources say he didn't do it for some reason. Tiger's Dad: Green Beret Lieutenant Colonel Earl Woods served 2 Tours of Duty in the Vietnam War. Tiger's Mother: Kultida (Tida) Woods. Her maiden name is Kultida Punsawad. Tiger's parents met in Bangkok, Thailand. They got married in 1969. Tiger Born: December 30, 1975 Long Beach, California. Tiger now lives in a new home in Isleworth, Florida. Near the west side of Orlando. Tiger moved to Florida because of the great golf weather and because he is always flying and time zone changes tired him out as he alway lost time when having to fly back to California. Tiger's Ethnicity: African, Thai, Chinese, American Indian, and European. Tiger's Religion: Tiger believes in Buddism. Not every aspect, but most of it. Tiger was 11-months old when he first started swinging a sawed off golf club in his garage. Some sources say he was actually 10-months old. Tiger's Education: In the 7th grade Tiger had a GPA of 3.86! (Now there's the real important stuff.) Tiger spent 2 years at Stanford University in California majoring in Business. Tiger has 2 half brothers and 1 half sister from his fathers first marriage. Tiger loves McDonalds (CheeseBurgers) and Taco Bell. Tiger's Caddy (Guy who carries Tiger's clubs for him): Mike "Fluff" Cowan, used to caddy for another pro, Peter Jacobsen. Tiger's Driver (Big Golf Club) is only 43-inches long, an inch shorter than most clubs used by other professionals. Tiger's Driver Club head is moving at an average speed of 122 mph at impact with the ball. Tiger uses a soft-covered three piece golf ball. My source says he uses the Titleist Pro 100. Others say he also uses the Titleist Pro 90. Tiger has a 35-inch sleeve length. (I know everything!) Tiger has a 28-inch waist size. (He's much stronger than he looks!) Tiger's Golf Coach: Butch Harmon Tiger's Agent: Hughes Norton of International Management Group Most Recent Award: ESPY (ESPN) Award "Breakthrough Athlete of the Year" Tiger is working on 2 golf books with Warner-Books he's getting paid $2.2 Million for them. Tiger's first professional win was the 1996 Las Vegas Invitational. He won $297,000. Tiger's Girlfriend: NONE. Actually, rumor has it that Tyra Banks (The SuperModel) is interested in him. Tiger Woods :: essays research papers Tiger Woods Tiger's Real Name: Eldrick Woods. The nick-name "Tiger" was given to him by his father. It's the same nick-name of a South Vietnamese combat buddy, Nguyen Phong, who saved Tiger's father's life a few times in the Vietnam War. Rumor had it that Tiger was planning to official change his name to Tiger Woods when he turned 21 this past December but sources say he didn't do it for some reason. Tiger's Dad: Green Beret Lieutenant Colonel Earl Woods served 2 Tours of Duty in the Vietnam War. Tiger's Mother: Kultida (Tida) Woods. Her maiden name is Kultida Punsawad. Tiger's parents met in Bangkok, Thailand. They got married in 1969. Tiger Born: December 30, 1975 Long Beach, California. Tiger now lives in a new home in Isleworth, Florida. Near the west side of Orlando. Tiger moved to Florida because of the great golf weather and because he is always flying and time zone changes tired him out as he alway lost time when having to fly back to California. Tiger's Ethnicity: African, Thai, Chinese, American Indian, and European. Tiger's Religion: Tiger believes in Buddism. Not every aspect, but most of it. Tiger was 11-months old when he first started swinging a sawed off golf club in his garage. Some sources say he was actually 10-months old. Tiger's Education: In the 7th grade Tiger had a GPA of 3.86! (Now there's the real important stuff.) Tiger spent 2 years at Stanford University in California majoring in Business. Tiger has 2 half brothers and 1 half sister from his fathers first marriage. Tiger loves McDonalds (CheeseBurgers) and Taco Bell. Tiger's Caddy (Guy who carries Tiger's clubs for him): Mike "Fluff" Cowan, used to caddy for another pro, Peter Jacobsen. Tiger's Driver (Big Golf Club) is only 43-inches long, an inch shorter than most clubs used by other professionals. Tiger's Driver Club head is moving at an average speed of 122 mph at impact with the ball. Tiger uses a soft-covered three piece golf ball. My source says he uses the Titleist Pro 100. Others say he also uses the Titleist Pro 90. Tiger has a 35-inch sleeve length. (I know everything!) Tiger has a 28-inch waist size. (He's much stronger than he looks!) Tiger's Golf Coach: Butch Harmon Tiger's Agent: Hughes Norton of International Management Group Most Recent Award: ESPY (ESPN) Award "Breakthrough Athlete of the Year" Tiger is working on 2 golf books with Warner-Books he's getting paid $2.2 Million for them. Tiger's first professional win was the 1996 Las Vegas Invitational. He won $297,000. Tiger's Girlfriend: NONE. Actually, rumor has it that Tyra Banks (The SuperModel) is interested in him.

Case Unilever †Marketing Essay

So, the decision process of buying detergent has become Habitual Decision Making process. 2. 2. Influences on consumer decision making â€Å"There are different factors influences the consumer decision making process. Marketer needs to understand these influences and which ones are important in the purchase process to make effective marketing decision. † (Solomon, Marshall, Stuart, Barnes, & Mitchell, 2009) 2. 2. 1. Internal Influence Lifestyle, Personality, and Perception are some of the internal influences involved in making the decision to buy the detergent.Lifestyle: As per Case study, the women in Northeast region treat washing the clothes as a pleasure activity and utilise the washing activity to meet and chat with the friends. Since, washing act as an integral part of their lifestyle, decision of purchasing detergent depends on this lifestyle. ? Personality: Personality has strong pressure in Northeast region because the region has implicated by low income which is very much evident in Exhibit 1 on the case study. Infant mortality is high and GDP/capita is low in Northeast region when comparing to other region of Brazil. This personality is directing Northeast people to buy low cost detergent. Hence, the characteristic of personality has crucial impact on decision making.Perception: People in Brazil have expectation when buying the detergent. They have interpreted the detergent in six different attribute and expects these attributes to be attained in the detergent powder. So, perception plays a critical role to make a decision on buying the detergent powder. 2. 2. 2. Social Influence Social Influence like social class and culture will also affect the consumer ecisionmaking process. ? Social Class: As per Exhibit 2 in Case Study, 53% of population in the Northeast region lives on less than two minimum wages when compare to 21% in the Southeast. This shows that more than half of the population was implicated by low wages in the Northeast region. This leads people to think on buying detergent based on their affordable price or living class. So, the social class plays a significant role in making decisio n to buy a detergent in Brazil. ? Culture: As per case study, People in the Northeast and Southeast have differed in symbolic value when it comes to cleanliness. Apart from these main players, the local marketers are giving competitive challenge to main players by capturing low income segment through small retail shops. 3. 1. Unilever and their current strategies ? Until 1996, Unilever’s detergent products had a dominant market share in a low growth market. But in 1996, Unilever has become an outright front runner in detergent powder with 81% of mark share in Brazil which has been achieved with three brands. ? Unilever might have segmented the consumer market in Brazil based on the Demographics. In Brazil, people have different kind of income in different region.

Perspective on sex

How do we explain sexuality from God's stand point, when we talk with teens, taming our own desires, and the sexual challenges that face us all? This paper will take you through the four different elements that will guide to a greater understanding of human sexuality, of what God has in store for us. God gave mankind the ability to have sex; his commandments are clear on how to become one with him. Sex Is not only for a few moments of pleasure, but a way for husband and wife to become one with God.I intend to explain to you the important benefits you will receive though intimacy, how and why one should abstain from sex until marriage, and how to develop the intimacy back into the marriage. Where does real Intimacy come from and how can we build the Intimacy with another person we desire? The meaning behind Intimacy Is finding someone to be close to that they we may find interesting. In the theology of love, intimacy is finding someone who you are willing to let everything go to find a special kind love that can be graced by God.Clark described Agape as the love for a person, someone you are willing to omit your heart and soul to, based on how you care for that one person, a forever lasting love, the complete willingness to change how you feel Just to be with that other person (Clark). By Intimacy we are allowing our own self to be seen by another, without regard to what or how we feel, but real intimacy starts when another person connects with your heart, and soul. According to the dictionary intimacy is defined as a close reunion or a combination of elements that connect together to make one (Dictionary. Mom). Above all you may think that sex makes a relationship, yet it is only he intimate form of the expression, sex is not intimacy only the physical form of intimacy. At the same time the relationship Is new, the couple prefers to spend time together to communicate emotional feelings, they may begin to hold hands as a way of physical touch, and they will date , discuss intellectual issues, they may pray together, and come to a term of how far of a commitment they may wish to carry out (Clark).First of all when the couple marries, they have decided to base their relationship on mutually shared covenant commitment and to consummate their allegations In a sexual union (Bailiwick, 2008 pig. 147). However, act between two relationship (Bailiwick, 2008). In the eyes of God their union of husband and wife is graced with God's love, since God has created mankind to know one another, Just as Adam and Eve. God gave mankind the ability to become intimate with another, and is graced by Him.Beneficial effects for a person's well-being, is the feeling of undefined love between two people, with women it is the love she sees in the eyes of her husband, and the ability to discuss anything with her husband without fear. For the man he shall see his beloved, and hold her to him, yet be allowed to communicate all of his fears, and intentions that he has una fraid of reticule. The benefit of welling being can also be that you have now found the soul mate for you that were preordained by God to give the couple a closer relationship with them, and God.Likewise the purpose of abstinence before marriage in Christianity is something the person must decide for themselves (Bailiwick, 2008 pig. 146). Throughout the Bible, God tells us to be pure of heart and soul, when we have sex before marriage as in 1 Corinthian 6:15-7 Paul reminds mankind that when we come from two bodies and become becoming one flesh, it is similar to uniting oneself with God, and making a union, ever though the couple does not plan to wed (Bailiwick, 2008 pig. 147). Premarital sex is defined as sex between two unmarried people who do not share a mutual covenant commitment.In the Bible, God defines premarital sex as fornication or sexual immorality, since the act of sex seals the union, whether or not the couple marries (Bailiwick, 2008 pig. 147). Wherefore, when a couple enters into an agreement hat they will not have sexually relations before marriage, they understand the Chastity that they must go beyond the â€Å"letter of the law'. Restraint from premarital sex, according to Buckler and Barman decreased the chance of sexual transmitted diseases, and unwanted pregnancy (Bailiwick, 2008 pig. 146).Whereas, refraining from sex before marriage minimizes the sins of the person, and leads them to God. When we yield to the temptations that pull us from the direction of God, we will start down the path that only leads to the destruction of sexual behaviors (Bailiwick, 2008 pig. 58). With the attention turning to elements that determine if one is practicing healthy sexuality usually takes us deeper into the person themselves. Whereas, one who practices a healthy sexuality does not use sex as a substitute for their own emotional needs (Bailiwick, 2008 pig. 52) thus, this will only complicate the persons Christian thoughts. Overall, a person reserve the ri ght to always be allowed to say â€Å"no† to their partner, having the strength and ego to say no to anyone who approaches them for sex without feeling obligated to anyone (Bailiwick, 2008 pig. 52). Ordinarily married couple will have sex for pleasure alone, not only to procreate, and feel closer to God. Meanwhile the single person should refrain from sexual interactions, avoid using pornographic material, since pornographic material gives the male an illusion of what the female body should look like.For instance, Gods words Jude 1:7. In a similar way, Stood and Sonogram and the surrounding towns gave themselves up to sexual immorality and perversion. They serve as an example of those who suffer the punishment of eternal fire. The use of pornographic trials, the internet, and late night skin shows are all immoral ways that do not constitute a healthy sexuality in mankind, but the path to damnation. Whereas, a person who practices unhealthy sexuality will seek out sex for plea sure only, not this person may feel that they are in love, it is not looking or caring of the other's needs.Therefore, their belief system or core beliefs are mistaken by hormones alone. However, do not have sex for the sake of sex being only body pleasure, it may bring a few minutes of orgasmic sensation, however, it is devoid of relation meaning (Bailiwick, 2008 pig. 1 54). Throughout marriage the marriage it may be lose its appeal becoming stagnated or less interesting (Hart) Dry. Catherine Hart Weber describes it as men and women each have different ideas about sexual images (Hart-Weber). Whereas, women wants romance, and to talk, men only want one thing sex.Yet, women may start to see themselves as overweight, suffer from depression, and develop low self-esteem. However, ways to prevent loss of intimacy in the relationship is to discuss anything that is bothering the couple. Whereas, Pastor Chris Adams speaks of how a difficulty separating values and mindset between the couple, his is a time where communication is vital (Adams). Some steps that may be useful in keeping intimacy in a relationship are communication, expression of emotions of partners, romance, and the man telling the woman how beautiful she is.Although, not all people feel comfortable with expressions of their emotions, explaining this to the other will open new doors to explore. In conclusion, God did intend for mankind to come together as one flesh, only after marriage. Yet keeping intimacy in a relationship that is absent of sex give us the basic human need of skin to skin contact (Bailiwick, 2008 pig. 55) however, this does not mean that in the beginning of the relationship sex is necessary. Only when two people who deeply love one another, and marry, can they truly become one in the eyes of God.

Primark and Ethical Business.Doc Essay Example

Primark and Ethical Business.Doc Essay Example Primark and Ethical Business.Doc Paper Primark and Ethical Business.Doc Paper Primark and Ethical Business Introduction Primark the leading clothing retailer Rapid changes in media, transport and communications technology have made the world economy more interconnected now than in any previous period of history. Nowhere is this more evident than in the world of textile manufacture and clothing distribution. Consumers want fashionable clothes at affordable prices. Much of high street fashion is produced in various countries across the world. Businesses source clothes from countries like India, China, Bangladesh and Turkey because of lower material and labour costs in these countries. In order to meet consumer demand, Primark works with manufacturers around the world. Primark is part of Associated British Foods (ABF), a diversified international food, ingredients and retail group. Primark has almost 200 stores across Ireland, the UK, Spain, Netherlands, Germany, Belgium and Portugal. Primark’s annual turnover accounts for a significant proportion of ABF†s revenues and profit. Primark’s target customer is fashion-conscious and wants value for money. Primark can offer value for money by: Sourcing products efficiently Making clothes with simpler designs Using local fabrics and trims Focusing on the most popular sizes Buying in volume Not spending heavily on advertising. The largest Primark store is located on Market Street, Manchester, England. Some 100,000 sq ft (9,300 m2) of retail space is spread across its three floors. It took over from Liverpool in 2008 after TK Maxx moved from the basement floor to the Arndale Centre, allowing Primark to fu rther expand Corporate Social Responsibility Every business has the corporate social responsibility (CSR) to be Ethical in its business environment and CSR is about responsibility to all stakeholders and not just shareholders. What is Stakeholder? A person, group or organisation, has direct or indirect stake in an organisation because it can affect or be affected by the organisation’s actions, objectives and policies. Key stakeholders in a business organisation include its creditors, customers, directors, employees, government agencies, owners, suppliers, unions and the community from which the business draws its resources. What are Business Ethics? Ethics are moral guidelines which govern good behaviour so behaving ethically is doing what is morally right Behaving ethically in business is widely regarded as good business practice. Being good is good business† (D. Anita Roddick) â€Å"A business that makes nothing but money is a poor kind of business† (Henry Ford) Code of Practice A common approach is to implement a code of practice. Ethical codes are increasingly popular – particularly with larger businesses and cover areas such as: Corporate social responsibility Dealings with customers and supply chain Environmental policy actions Rules for personal and corporate integrity Primark from Ethical to Unethical Business Let’s take one of the above stakeholders the suppliers to analyse how the suppliers and supply chain can affect the business ethics and can make a business unethical business. A business cannot claim to be ethical firm if it ignores unethical practices by its suppliers. Use of child labour and forced labour, Production in sweatshops, Violation of the basic rights of workers, Ignoring health, safety and environmental standards. An ethical business has to be concerned with the behaviour of all businesses that operate in the supply chain i. e. Suppliers, Contractors, Distributors, Sales agents. So the Primark could not consider and concentrate on the supply chain of its suppliers who were hiring the child labour in the factories in various states of India and Bangladesh. Those suppliers were the main source of Primark retail clothing products in UK and. This issue was exposed by The Observer, The Independent News and the BBC panorama. Primark declared as least ethical business Primark, the discount clothing chain beloved of bargain hunters, has been rated the least ethical place to buy clothes in Britain. Primark scores just 2. 5 out of 20 on an ethical index that ranks the leading clothing chains on criteria such as workers rights and whether they do business with oppressive regimes. Mk One and Marks Spencer were ranked second and third worst for ethics by Ethical Consumer magazine (By Martin Hickman Consumer Affairs Correspondent Thursday, 8 December 2005, The Independent news) The Ethical Trading Initiative (ETI) The Ethical Trading Initiative (ETI), of which Primark is a member, has undertaken an investigation in to the reports. The ETI confirmed to Drapers this week that the investigation was ongoing and no conclusion had yet been reached. Primark refutes the claims stating it can offer good value and good quality because of low mark-ups and big volumes. We use simple designs, our overhead costs are extremely low and we dont run expensive advertising campaigns. Lapse in standards The information provided by the BBC enabled us to identify that illegal sub-contracting had been taking place and to take action accordingly, Primark explained. According to Primark, the garments affected accounted for 0. 4% of the retailers worldwide sourcing. It added that the sub-contracting involved home working and in some instances children were also found to be working at home We take this lapse in standards very seriously indeed, said Primark, which is owned by Associated British Foods Under no circumstances would Primark ever knowingly permit such activities, whether directly through its suppliers or through third party s ub-contractors. The Primark supplier in question, a major Indian exporter called Fab n Fabric, had employed a subcontractor who had discovered the ultimate disposable workforce: child refugees. Primark’s Code of conduct and Initiatives taken Under the terms of its code of practice for suppliers, Primark prohibits the use of child labour in its manufacturing chain. Primark says it will terminate relations with suppliers guilty of certain transgressions and those unwilling to make the necessary changes to their employment practices when breaches of its code are uncovered. Primark and Stakeholders Engagement Primark sacked the three suppliers before being hit by a wave of negative publicity inevitably coming its way from the documentary. The firm, owned by Associated British Foods, said it had made the statement to fulfil a responsibility to shareholders, not as cynics suggested to lessen the shock of an international expose. The retailer said that, as soon as it was alerted to the practices over a month ago by The Observer and the BBC it cancelled new orders with the factories concerned and withdrew thousands of garments from its stores. A statement from Primark Stores on Bangladesh 19/11/2010 A Primark spokesman said: â€Å"Primark shares and recognises many of the concerns raised by No Sweat. We acknowledge that conditions for workers in some factories do not always meet them high standards that we and other brands sourcing from these factories, expect. Primark believes ethical business practices are of the highest importance and that is why we work tirelessly with our supplies and other stakeholders, including those in Bangladesh, to raise standards and the welfare of the workers that depend on the orders placed at these factories. Primark is working in several ways to continually improve ethical standards and working conditions among suppliers. Primark’s Initiatives and Working with stakeholders Working closely with external partners featured strongly in much of what Primark achieved during 2010. Highlights include the following: Primark in Bangladesh In Bangladesh, 16 of the factories from which we buy have been working with Nari Uddug Kendra (NUK), an NGO that focuses on women’s rights. Together, Primark and NUK have provided training for factories on how to manage workers more fairly, and educate them about their rights. In 2009, 974 workers received training through this programme. Furthermore, Primark has created a new Ethical Trade Manager position in Bangladesh. One of the first initiatives to be launched by the Ethical Trade Manager will be tailored ethical training for suppliers in Bangladesh. Further plans are underway to recruit a female Ethical Trade Executive with a specific remit to focus on women’s issues in factories, which we know are particularly important I this context. Primark in China In China and Bangladesh, Primark began projects that aim to create long-term, sustainable improvements in labour standards and provide living wages for people. Several visits had been undertaken to both countries in 2009, to identify suppliers, factories and local implementation partners including NGOs, worker organisations, employer associations, and technical experts. Primark in India In southern India we are working at grassroots level with an NGO to understand and address the challenges faced by workers in communities where Primark’s products are made. The programme includes surveys to identify workers, families and children at risk, as well as providing a counselling service and helpline for people. A core part of this initiative is worker education and we have established groups that look at issues from hygiene and personal development to gender equality and workplace rights. Primark with International Organisations Through Primark’s membership of the ILO and International Finance Corporation (IFC) Better Work programme, we engage and collaborate with retailers and labour experts within countries to provide localised supplier training, remediation and worker engagement. Primark’s supplier factories in Vietnam are part of the initiative, and we support the efforts and plans of the ILO to implement the programme in other countries from which we source. Primark and BSR This year Primark joined Business for Social Responsibility (BSR), a CR organisation with over 250 corporate members. Primark is an active member of the BSR Mills and Sundries working group, a coalition of clothing retailers which looks at ethical and environmental performance within spinning mills, dye-houses and sundry manufacturers. BSR also worked with Primark on identifying key trends in labour migration in China, and how Primark suppliers could mitigate potential labour shortages through good human resource management. Finally, we are proud that Primark is BSR’s partner in Bangladesh for the health enabled returns programme, a groundbreaking initiative that provides healthcare and education for women in factories. Primark and ETI As a member of the Ethical Trading Initiative (ETI), Primark continued to be actively involved in a number of ETI groups in 2010 relating to the following: General Merchandise, Home working Principles of Implementation, Annual Report, Purchasing Practices, and China. Primark also increased its collaborative efforts with other brands, via membership of cross-brand forums in a number of countries as well as more informal joint efforts on supplier remediation. As 95% of the factories that supply Primark also supply other retailers, this joined-up approach is one of the best ways to achieve progress Primark altered internal system Primark has brought many changes in its internal system to meet the requirements of Ethical Trading Initiative and to over come the issue of least ethical business. Appointment of Ethical trade Director Team The Primark has employed Katharine Kirk, from Gap Inc, as Ethical Trade Director. No new supplier can be appointed without being audited, and then Cleared by her. Primark has been steadily expanding the size of its own ethical trade staff over the last 2 years. In-house there is currently an 8 person team (including the Director). Recent additions to the team include a new Ethical Trade Manager in Bangladesh and plans are underway to recruit a female Ethical Trade Executive for Bangladesh with a specific remit to focus on women’s issues in factories. Primark also has a new Ethical Trade Manager in Turkey, and a new Ethical Trade Executive to add to the strength of the existing team in India. The aim is to have in place a team of 15 by the end of 2010. Monitoring and Auditing In 2009 Primark had conducted over 1080 audits, which is almost double the number in 2008 (533 audits). The growing in-house ethical team, new third party auditor partners, and the online audit database are helping to support this growth. Audits are accompanied by a remediation programme for each supplier as required. This is the accepted way the industry seeks to raise standards. Primark uses a mix of our own in-house and third party auditors. Third party auditors performed around 70% of our audits last year. So the Primark is increasing the number of them. Most of their visits are unannounced or semi-announced. They are paid for by Primark, to reduce the burden on suppliers and factories. The focus of Primark’s auditing programme is the top 250 suppliers which represent 87. 6% of the selling value of the business. Primark had audited all suppliers ranked in the top 250 by the end of 2009. Primark audit according to: Level of turnover with a supplier, proportion of a supplier’s production that is dedicated to our business, country of manufacture, risk of production process, any other information about a particular supplier or factory that identifies risk. However, Primark recognised that audits are a necessary, but not sufficient, part of the solution to raising standards in the supply chain. Much is dependent on remediation and training. Remediation plan with Factories Primark has third party auditors and staff works out a remediation plan with each factory after an audit, and then a follow-up is conducted, mainly by our own team members. More than half the audits we do are follow-ups (55% of Audit in 2009) 18 months ago Primark began work on a new, cutting-edge, online audit management system. BSI Entropy’s management system helps us to keep track of non-compliances at the individual production site, as well as at country and buying department levels. The system helps us to follow up non compliances in a timely manner and identify root causes of problems and where additional training is required. Primark has established a dedicated living wages projects in China and Bangladesh. The lessons learned and models developed will be rolled out more widely within Primark’s supply base. The project entails using local experts in each country – NGOs, trade unions and productivity experts – to improve the systems within the factories. Primark buyers will also be involved in encouraging factories to make the necessary changes, sharing knowledge and experience with the factory management, as well as looking at how they can improve the way they buy – for example by paying close attention to the timing and volume of orders so as not to overstrain the factory. Training programmes All Primark buyers and key personnel have been trained in ethical trade. In total this has covered 209 staff equating to over 1,672 hours worth of dedicated ethical trade training. New staff members are also given training on ethical trade during their induction. Ethical trade training was provided to Primark’s China-based staff. The supplier training programme has been extended and dedicated events took place in China, the UK and India last year. In November Primark hosted 3 days of ET training for the top 50 Chinese suppliers and their factories in Shanghai. 192 individuals attended these sessions. In July 40 Irish and UK suppliers and factories attended one of the ethical trade workshops held in Reading and Birmingham Primark is about to launch a new Suppliers’ Extranet, an online information resource centre for suppliers which will include helpful training tools and guides for factories. Primark has also developed an online compliance training tool for suppliers with a specialist provider, so we can reach more factories, more quickly. Recommendations to improve Ethical Practices The ethical climate of a business organization can make the difference between a successful venture and an unsuccessful one, that there may be a co nnection between how a business is perceived and its internal ethical climate. Improving the ethical climate of your own business enhances and preserves its reputation, inspires loyalty and advertises that it has its ethics message right. It also fosters an ethical culture within the organization. Evaluating Ethical Behaviour I would like to recommend and suggest that companies should undergo internal ethics audits on a regular basis because that the regular internal audit of the business organizations ethics and compliance program adds great value to the organization. A business organization should take a top-down approach to ethics. By communicating and modelling behavioural standards from the highest levels of your business down to the entry-level positions. So we can ensure that there is no gap between ethical standards and the actual behaviour of employees. By regularly evaluating these standards and the behaviour of your companys leadership, you can effectively promote compliance to ethical behavioural norms for your organization. Educating Employees A business organisation should Increased focus in the business community regarding ethics-based issues has led to increased funding and research to increase ethical awareness. One strategy to improve the ethical climate of your business organization is to offer or even require classes in business ethics. Business ethics classes at the local community college or even classes offered directly through the human resources department can be a practical and cost-effective way to offer ongoing ethics training and motivation. Protecting Employees One problem that might arise in the promotion of ethical guidelines to your orkforce is the fear employees may have regarding their role in reporting unethical or questionable behaviour by another employee or even a supervisor. Employees must be assured that they will be safe from retaliation from other employees or supervisors who might be turned in for engaging in questionable activities. The best way to make this assurance is to offer employees a confidential channel through which they can report bad behaviour. A company ethics hot line is one way to increase employee willingness to speak out. Another might be a suggestion box kept in a secure location where other employees are not likely to see one of their fellow employees turning them in. Employees must be confidently assured that reporting bad behaviour is expected and safe. Supply chain sources Every business organisation should choose its supply chain sources with carefully and make sure that all your suppliers are taking care of human rights in their factories by visiting the factories of your business suppliers. Conclusion For companies with plans to establish a more formal code of conduct and ethics program or to improve existing ones, the tone must be set at the top. Effective standards for ethical conduct must be initiated, supported, encouraged, and practiced by top management. Furthermore, a code of conduct cannot be effective if it is not adequately communicated and explained. Todays technology provides various cost-effective methods for communicating an ethics code. These communication efforts should be provided in a steady stream even after the initial awareness campaign. The advantages that are to be gained from formally practicing in ways that adhere to ethical principles include, the development of company documentation that guides and informs staff members on their proper conduct both during normal business interactions and during ethically-challenging situations; A better understanding by staff members of their responsibilities, and an ability to align their values with those of the organisation; The assumption of an appropriate level of accountability by staff members in identifying and anaging business risks; The facilitation of fairness and moral management in business activities; Increased trust from, and between, internal and external stakeholders. Increased employee satisfaction; A more open-minded organisational culture in which the interests of the employer, employees, customers, suppliers, and other stakeholders are protected; An enhanced reputation within the community that helps attract new staff and customers, increases both public and community relations, and the potential for improved financial performance; and an enhanced reputation with competitors, governmental agencies and financial institutions by working with external agencies such as the International Labour Organization, the ETI and independent auditors, Primark helps to set and maintain standards. Its auditors work with suppliers over a period of time to help them meet the exacting standards set out by the Ethical Trading Initiative. This enables the supplier to become approved. So the PRIMARK has proved it wrong that its business operations are unethical, by taking the key measures and introducing many changes in its internal and external operations. Now Primark’s operations are based on Based on international Labour code and this is Translated into 26 Languages and published on Primark website. PRIMARK has sets off full policies and is part of terms and condition Training for suppliers and buyers to ensure adherence to ethical practice Tough selection process for new suppliers Reference: tutor2u. net/business/strategy/business-ethics-issues. html tutor2u. net/business/strategy/business-ethics-introduction. html tutor2u. net/blog/index. php/business-studies/comments/1175/ http://tutor2u. net/blog/index. php/economics/comments/my-primark-answer-and-more-questions/ abf. co. uk/stakeholder-engagement. spx ethicalperformance. com/news/article. php? articleID=6068 Source: tutor2u AS/A2 Economics Blog Source: tutor2u Business Studies Blog businessdictioneray. com : investopedia. com/terms/s/shareholder. asp#ixzz1Q7yKwTDG www. primark. co. uk/Ethical www. primark-ethicaltrading. co. uk/ /primark_announcement_on_eti_review . htm Read more: Strategies to Improve the Ethical Climate of a Business Organization | eHow. com ehow. com/way_5891381_strategies-ethical-climate-busines s-organization. tml#ixzz1QJ2wEgBZ Published in 2004, Curtis C. Verschoor NASDAQ letter to the SEC, April 11, 2002, nasdaqnews. com/ news/pr20 02/corporate%20governance. pdf Lei singer, KM, Corporate Ethics and International Business: Some Basic Issues foundation. novartis. com/business_corporate_ethics. htm, Novartis Foundation for Sustainable Development (June 2, 1994) Murphy, Diana E. , The Federal Sentencing for Organizations: A Decade of Promoting Compliance and Ethics, Iowa Law Review (January 31, 2002), pp. 703-704. Anonymous, (2001), The importance of business ethics, HR Focus, Vol 78, Iss 7, p 1, 13+, New York Brandl, P. and Maguire, M. , (2002), Codes of ethics: A primer on their purpose development and use, The Journal for Quality and Participation, Vol 25, Iss 4, PP 8-12, Association for Quality and Participation, Cincinnati, OH Hopen, D. , (2002), Guiding corporate behaviour: A leadership obligation not a choice, The Journal for Quality and Participation, Vol 25, Iss 4, pp 15-19, Association for Quality and Participation, Cincinnati, OH Lovitky, J. A. and Ahern, J. , (1999), Designing compliance programs that foster ethical behaviour, Healthcare Financial Management, Vol 53, Iss 3, pp 38-42, Healthcare Financial Management Association, Westchester, IL Malan, D. , (2002), Applying tick-box ethics, Accountancy SA, PP 3-9, Hinesburg, South African Institute of Chartered Accountants, Ken gray, Johannesburg. Master, M. , (2002), Ethics at work: The disconnect in ethics training, Across the Board, Vol 39, Iss 5, pp 51-52, New York Read more: hetimes100. co. uk/case-studyconclusion158-412-6. php#ixzz1QJJhwWDY Messmer, M. , (2003), Does your company have a code of ethics, Strategic Finance, Vol 84, Iss 10, pp 13-14, Institute of Management Accountants, Montvale, NJ Niedermeier, S. and Rhodes, L. , (2002), Creating a culture of credibility, The Journal for Quality and Participation, Vol 25, Iss 4, pp 13-14, Association for Quality and Participation, Cincinnati, OH The Work Foundation, (2002), Managing Best Practice No. 8: Corporate Soc ial Responsibility Case Study 1, pp 20-21, The Work Foundation, Birmingham Verschoor, C. C. , (2000), To talk about ethics, we must train on ethics, Strategic Finance, Vol 81, Iss 10, p 24, Institute of Management Accountants, Montvale Wells, S. J. , (1999), Turn employees into saints? , HRMagazine, Vol 44, Iss 13, pp 48-58, Society for Human Resource Management, Alexandria thetimes100. co. uk/case-studyconclusion158-412-6. php#ixzz1QJJhwWDY

Developing the Forensics, Continuity, Incident Management, and Case Study

Developing the Forensics, Continuity, Incident Management, and Security Training Capacities for the Enterprise - Case Study Example Information security involves safeguarding the integrity, confidentiality and the availability of information either in electronic or print form while information policy assurance is the practice of managing the risk associated with such data. In any organization business continuity plan is crucial to provide a foundation for prevention and recovery from natural and non-natural disaster. Resource allocation therefore constitutes the backbone of the business continuity process. The organization should incorporate realistic and practical ways of resolving the important resource allocation issues that are most likely to impact it. This includes the people, places and things. People includes the employees, insiders, customers, vendors, institution-affiliated and third-party service providers. The places are the facilities that the institution owns, manages, maintains and controls while things is comprised of the assets, equipments, supplies, records and documents available to an organization (Watters, 2010). An effective and credible business continuity plan is developed in a series of steps. Business impact analysis is done to identify the sensitive and crucial business functions and the resources that support them. This process outlines the effects resulting from the interruption of normal business functions and the recovery priorities and strategies (Gerard Blokdijk, 2008). The information is used to decide on the resources to be allocated to the process. Appropriate delegation of planning activities and the involvement of the top and lower management personnel in the implementation of a BCPhas been observed to significantly yield positive results. According to the 2005 Business Continuity Survey by CPM and Deloitte, involvement of junior staff eliminates the otherwise casual approach towards the BCP and improves the response time. After an impact analysis has been