Job Personal Statement Example | Topics and Well Written Essays - 250 words

Job - Personal Statement Example My academic experience and professional qualifications harnessed my skills and prepared me for the responsibilities that go with the position. I am deeply dedicated to the accomplishment of required endeavors and am committed to being instrumental in creating progress and development to the organization I am connected with. I am enthusiastic to offer my professional services as part of the accounting team of your prestigious institution. Since I am still attending Baltimore City Community College, majoring in accounting, I have been committed to continue a career with your firm. I have taken two business classes and received As. I also have taken three Accounting classes and received no less than Bs. In these classes I became skillful and adept in using Microsoft office. I am well aware that TSA is consistently in pursuit of people who are ambitious, competitive, with a strong focus to succeed and a force to work for the betterment of mankind. I would like to continue to be part of your workforce being guided by values of integrity, honest dealing, treating everyone with respect and dignity, striving for mutual advantage, transparency and contributing to human

Fashion Theory And Fashion Practice Literature review

Fashion Theory And Fashion Practice - Literature review Example This paper focuses on the fashion industry. Fashion practice wholly depends on the ability to establish brands that meet the fashion needs of a particular target market during a particular era. For this reason, companies such as Coco Chanel and Yves Saint-Laurent keep a close tab on the changing preferences of the clients with time, hence are able to provide what the clients exactly need (Myers et al. 2011). Some of the towns that have been known for their fashion and have well-established international fashion houses include Paris, Milan, London and New York (Scaraboto & Fischer 2014). These cities house some of the greatest fashion companies in the world; the residents in these cities demonstrate a culture that appreciates fashion and art, hence the reason for the flourishing fashion wear industry. Fashion weeks are usually organized for the designers to display new fashion collections. This has forced the designers to go an extra mile in as far as creativity and innovation in the fashion industry is concerned. In conclusion, fashion is a habitual trend or popular practice that is time-bound and keeps changing depending on age, gender, race, culture, and religion, among other influential factors within the target market. this is the reason that makes the fashion industry a very expansive and dynamic sector that requires a very talented and creative labor force that has the ability to think beyond the obvious and design unique styles that will keep customers coming for more as is sufficiently exhibited by in the blooms bury journals.

Sole Traders, Partnerships and Limited Companies Comparison

Sole Traders, Partnerships and Limited Companies Comparison ADVANTAGES OF SOLE TRADERS: * Economical and easy to set up a new firm. Not much capital is required. * The sole trader has the total control over its firm. The owner has the, hand-on approach over its business; he doesnt need to consult with anyone. * The owner being the sole trader, keeps all the profit. * The business dealings are confidential, competitors cannot look into the accounts of the owner. DISADVANTAGES OF SOLE TRADERS: * Risk of indefinite liability. Incase of any debts, the owner is forced to sell its personal assets. * Sole traders find difficult to enjoy economics of scale. * Since the firms are small, banks will not lend them large sum of money and will be inefficient to use any other long-term finances. * Problem of continuity occurs, if the owner dies or retires. PARTNERSHIPS: a partnership is an agreement between two or more people to form a business. Profits and losses of a business are shared by each person who contributes money, assets, labour and skill. Example, doctors, dentists etc. ADVANTAGES OF PARTNERSHIPS: * It brings more flexibility as more people can contribute in the capital * Responsibilities are shared between the partners. It allows for specialization, where ones strength can complement anothers. * By introducing new partners, expanding becomes easier. * Reduction in risk of losing money, as costs can be shared among partners. DISADVANTAGES OF PARTNERSHIPS: * Dispute among the partners, can affect the decision-making process. * Partnership duration is always uncertain. * Partners are jointly and individually responsible for the debts of firm. * exploitation of resources can be raised among partners. LIMITED COMPANY: it is a legal entity. All limited companies are incorporated. They can sue or own their assets in their own right. (bbc.co.uk, 2009). It is owned by the shareholders. ADVANTAGES OF LIMITED COMPANY: * It provides limited liability to shareholders. The shareholders are not individually responsible for firms debts. * Despite of deaths, resignations, the company continues. * Name of the company is protected and has supple borrowing powers. * Management interests and obligations are defined. Shareholders and investors are easily assimilated. DISADVANTAGES OF LIMITED COMPANY: * Possibility of takeover or merger as shares can be bought by anyone. * Disputes between, shareholders and board of directors regarding the interests. * Increase in paper work and different rules. A budget is a dominant tool that helps a business to take better decisions. It is most efficient tool to direct the cashflows. A budget is planned to * Manage finances. * Assures continuity of funds for current commitments and for future projects. * Enables to make financial decisions. The basic budget factors that a business should consider are: * Projected cashflow: the cash budget tells about the future cash position on monthly basis. * Projected costs: this includes costs of production, sales and marketing costs, business administration and operation costs, fixed, variable and semi-variable costs. (entrepreneur, 2004) * Projected revenues: sales or revenues calculations are based on amalgamation of businesss sales history. Through this, business can also prepare projected profits for the next 12 months. * Collective profits and losses: each month, profit and losses are added, this total tell when the business will break even and begin earning a profit. (entrepreneur, 2004) TIM O NEIL, the founder of TT vision would also have considered the points mentioned above, when he started his business. KEY SOURCES OF FINANCES ARE: * Bank loans and mortgages: suitable for medium-sized firms. Banks can lend large sum of money for a long period of time. Rate of interest is attached to the loans. * Overdrafts: right to be able to withdraw money you do not presently have. Provides flexibility and interest is paid on the amount withdrawn. * Trade credit: it enables the firm to have access to flexible amount of funds for a short duration. High limits and interest are charged on the amount borrowed. * Venture capital: they are set-up to invest in developing countries. They offer capital to help businesses grow. * Lease: it means businesses are paying for the use of a product but do not own it. ( bized.co.uk, 2009) The Business idea can be cafà © shop can turn into a business proposition. The start-up finance for the business can be sourced out ones personal assets like money held in banks, home equity loan which is quick and inexpensive for borrowers. Finances can also be arranged through banks, credit cards to setup a franchise. Land can be hired through lease. BIBLIOGRAPHY (2009).Budgeting and business planning [Internet].Available from: [Last accessed 15 December 2009]. Tracy, B. (2004).Drafting Your Budget [Internet].Available from: [Last accessed 15 December 2009]. (2009). Sole traders and partnerships [Internet].Available from: [Last accessed 14 December 2009]. (2009).Advantages of a Limited Company [Internet].Available: [Last accessed 14 December 2009]. (2009).Public and Private Limited Companies [Internet].Available from: [Last accessed 14 December 2009]. (2009).sole trader [Internet].Available from: [Last accessed 14 December 2009]. (2009).sources of finance for business [Internet}.Available from: [Last accessed 17 December 2009].

Hawthornes Young Goodman Brown †Conflict, Climax, Resolution :: Free Essay Writer

â€Å"Young Goodman Brown† – Conflict, Climax, Resolution  Ã‚  Ã‚  Ã‚  Ã‚        Ã‚  Ã‚   Edmund Fuller and B. Jo Kinnick in â€Å"Stories Derived from New England Living† state that   â€Å"’Young Goodman Brown’ uses the background of witchcraft to explore uncertainties of belief that trouble a man’s heart and mind† (31). Are these critics’ statement correct?   This essay will examine Nathaniel Hawthorne’s â€Å"Young Goodman Brown† to determine the conflict, climax and resolution.    The conflict between pride and humility is the direction that Clarice Swisher in â€Å"Nathaniel Hawthorne: a Biography† tends: Hawthorne himself was preoccupied with the problems of evil, the nature of sin, the conflict between pride and humility† (13). There is little doubt about the pride of the protagonist as he scolds his wife for not fully trusting him: "’My love and my Faith,’ replied young Goodman Brown, ‘of all nights in the year, this one night must I tarry away from thee. My journey, as thou callest it, forth and back again, must needs be done 'twixt now and sunrise. What, my sweet, pretty wife, dost thou doubt me already, and we but three months married!’" And looking at the end of the tale, perhaps it his Goodman’s pride which causes him to live the rest of his days in gloom; the opposite virtue of humility might ease his adjustment into a world of sinners.    Gloria C. Erlich in â€Å"The Divided Artist and His Uncles† says that â€Å"he let his more extravagant characters test the unlimited for him and sadly concluded that it was unlivable† (38). Stanley T. Williams in â€Å"Hawthorne’s Puritan Mind† states: â€Å"What he wrote of . . . . unforgettable case histories of men and women afflicted by guilt, or, as he called it, by â€Å"a stain upon the soul† (43). Sculley Bradley, Richmond Croom Beatty and E. Hudson Long in â€Å"The Social Criticism of a Public Man† state: â€Å"He was absorbed by the enigmas of evil and of moral responsibility† (47). Using an assortment of literary critical opinion, this reader considers that the central conflict in the tale is an internal one - the conflict in the mind and soul of Goodman Brown between joining the ranks of the devil, and remaining a morally good person, and the extension of this conflict to the world at large represented by the villagers of Salem.    It is a difficult personal journey for Young Goodman Brown, a young Puritan resident of Salem, Massachusetts, in the 1600’s to say goodbye to Faith on that fateful night and to keep a prior commitment made with an evil character (the devil) in the woods.

Corporate Governance In Australia Essay

INTRODUCTION Corporate governance is the process by which the corporate can implement proficient decision making, appropriate resource allocation, and involve in strategic planning. It concentrates on how objects of are laid down and attained, how risk is watched and evaluated and how performance are maximized. Corporate governance helps corporations to construct value through innovation, provide accountability and to implement proper control system to quantify the risk involved. Corporate governance has become more relevance to determine the cost of capital in a global capital market. So as to facilitate the Australian companies to compete internationally and to preserve and promote investor’s reliability both in Australia and overseas, corporate governance is to ensure to review those practices to reflect both local and international developments and position. Corporate governance must be evolutionary and receptive to the information requirements of local and international investors. In Australia, Corporate governance has been defined by two chief guides viz. ‘Corporate Practices and Conduct ‘issued by the Bosch Committee in 1995 and ‘A guide for Investment Managers and Corporations â€Å"issued by IFSA in 1997 and also by ASX publications and the Australian Institute of Directors. Most definitions on corporate governance refer mainly the following: The devise by which companies are controlled and directed and The devise by which those who control and direct a company are supervised. FUNDAMENTALS OF CORPORATE GOVERNANCE: To explain the functions of the management and the board clearly. The Board is vested with a balance of skills and independence. More emphasis on the honesty on decision makers on corporate’s plan and financial performance. To inform periodically the investors the important happenings in corporate financial activity and enhances the integrity of the corporate reporting. To report all material factors in time and with a matured outlook. The shareholder’s rights shall be clearly acknowledged and to be honored. Business decisions with inherent risk and uncertainty is to be handled with proper internal control. To cope with the modern risks of business, introduction of formal mechanisms to enhance board’s and managerial effectiveness. Proper rewarding system should be designed to attract skills required to achieve the result anticipated by shareholders. Good governance takes care of the interest of all stakeholders . In Australia, relevant disclosures are made in a separate corporate governance section of the annual report of a company. Australian Corporate Act requires certain information is to be included in the director’s report and these informations can be included in the corporate governance section in the annual report of the corporation. The main general salient features of corporate governance codes are: It is the way of guaranteeing that the implementation of economic power by the corporate sector. Board of Directors of a corporation has inherent managerial and supervisory function. It ensures that there is a demarcation between managerial and supervisory roles. It includes the separation of the office of the Chairman and CEO, the installation of independent directors, formation of committees of Board like remuneration, audit, share transfer etc. Major codes of the corporate governance deals with disclosures to shareholders more particularly director’s remuneration, top executive remuneration, independence of directors and shareholding pattern etc. Thus corporate governance is aimed at the maximization of shareholders wealth and to protect their interests. While the corporate governance is helpful to instill confidence on investors and at the same time if there are grave governance deficiencies, the investors may shun the shares of individual companies, a section of markets or even national capital markets. Westpac Banking corporation of Australia has not only stood top of the Australian corporate governance league race in 2004 but also only the bank on international level to enter into the global top 20 corporates as appraised by Governance Metrics International , an International rating agency.[1] The annual IR Magazine Australia awards for   2005 had been awarded to the following Australian companies for their best corporate governance in investor relations by ASX 100 company viz. ANZ , BHP Billion , Blue Scope Steel, and Stock land.[2] COMPARISON BETWEEN CORPORATE GOVERNANCEANDCORPORATE RESPONSIBILITIES: The recent scandals in US like Enron, WorldCom, and Adelphia has compelled the governments across the world to promulgate enhanced legislation, improved corporate codes and corporate boards have been â€Å"re-balanced† to have more independent directors. Corporate responsibility is nothing but the extension of governance beyond simple compliance to squeeze wider social values. A recent survey finds that of late more business heads and corporate investors are factoring corporate responsibility into their decision making process. Thus the corporate responsibility has become vital or pivotal consideration in investment decisions. As per views of business heads, corporate responsibility should include ethical staff behavior, good corporate governance and transparency where as for investors, transparency, good corporate governance and ethical staff behavior were the top most concern.   Further it is revealed that corporate responsibility could augment corporate’s bottom line and resulted in intangible advantages of brand enhancement and better staff morale but it has disadvantages also like unproven business benefits and high cost involved . The Role of ASIC (Australian Securities & Investment Commission) in corporate governance: The ASIC mainly supervises and enforces compliance with the various provisions of the Australian Corporations Act that are devised to control and influence the exercise of power by top managers and directors. The major supervision provisions include duties of directors, general meetings of the company shareholders, and transactions with the related parties. But the full compliance by the corporates can not be possible unless there exists adequate enforcement mechanism. Hence support of the government is needed for the enforcement mandate of their securities market. ASIC has successfully through its various ranges of enforcement measures have brought a series of civil, administrative and criminal actions to bring accountability to wrongdoers. Former CFO of Harris Scarfe was sentenced to 6 year imprisonment in a criminal charges leveled against him by ASIC[3]. Likewise, civil penalty proceedings were initiated against erstwhile directors of HIH. Court held that they breached their duties as directors under the Australian Corporations Act and debarred them to involve in the management of company affairs for 20 years and 10 years.Further, these erstwhile directors were directed to pay compensation of more than A $7 million and also Court imposed pecuniary penalties in each case. Further ASIC is contemplating actions in more than 200 cases most of which mainly concerned with issues relating to failed governance. Further, more than 69 persons were imprisoned for committing white collar crimes from 1999 to 2002. ASIC tries to enforce the corporate codes by compelling to make disclosures, the operation of exchanges (where listing arrangement also requires corporate governance compliances), the directives on audit and licensing of intermediaries. Comparison of Corporate Governance between USA and Australia. In the post-Enron era, the main difference is the USA’s perspective rule based approach and Australia’s more flexible principle-centered approach. Moreover, in Australia, there are array of menu of regulatory and other official standards for business. These includes Australian Corporation Act, regulatory guidelines such as ASX corporate governance council’s best practice ‘suggestions on corporate governance , regulatory ruling like ATO rulings ,regulatory guidelines like ASTC policy statements and practice notes, official standard-setting and judicial pronouncements. [i] Most of SOX provisions are identical to Australian laws and regulations such as CLERP 9 and the ASX corporate governance guidelines. Australia’s corporate governance guidelines are designed mainly for the Australian companies and its stock market and it is user-friendly. ASX corporate governance guidelines and CLERP 9 contains certain SOX governance conditions. It is to be noted that thought there is no 100% identical nature but its intent and objectives are more or less identical. There is a marked difference in approach between USA[4] and Australia towards corporate governance as the former is adopting ‘rule-based’ where as the latter is adopting ‘principle-based’ approach. Australian corporate governance is of suggestive in nature whereas USA is following prescriptive nature to governance matters. Thus the suggestive nature provides an in-built elasticity to retort and adjust to local industry and market forces and too industry ‘best practices’. Though the objective of some US and Australian governance is identical, the expressions applied are different thereby making strict compliance more complex. Further, relationships between Australian companies and their external auditors may be viewed by the SEC of USA as a violation of US auditor independence standards and may result in major penalties regardless the fact it complies with the Australian governance standards. This is to be considered if an Australian company is listed in the US. In the case of auditor independence, Australian â€Å"general independence ‘code is somewhat relaxed than the comprehensive list of specific preclusions under SOX. In US, in addition to annual and quarterly financial reports, a listed company has to file periodic reports on material ‘off-balance sheet ‘transactions. Further, it requires personal certification by the CEO or CFO that reports do not include any untrue statements or material omissions and reporting of changes of ownership status.    Under ASX listing rules and Corporations Act of Australia, a listed company has to file continuous disclosures to instill confidence for investors and facilitate them to have timely access to price sensitive information which have an effect on corporate’s securities. Australian governance codes specify lesser specific responsibility on periodic reporting. Where as under SOX, periodic disclosure is easy to implement as it specifies what are to be to reported every financial quarter and not contemplating to report what is materially price-sensitive which has to be disclosed on continuously under ASX codes. Under US governance codes, stringent and rigid set of prohibitions are placed on external auditors and audit functions which is in line with the US ‘rules based approach’. In contrast, CLERP 9 requires Australian public companies and their external auditors to exhaustive codes concerning auditor independence and fortifies existing auditor independence requirements through a recently introduced set of codes on auditor independence, periodic rotation of audit partners, placing restrictions on employment relations between the client and the auditor and imposing mandatory cooling off period before members of an audit firm can become a officer or director of the client. The main difference lies between Australian ‘general independence test’ which is somewhat liberal than the specific preclusions under SOX. Under SOX, CEO or CFO has to certify that they have reviewed the relevant financial report and it is not misleading or contain untrue information’s and there exists enough internal controls. In Australia, CLERP 9 mandates that CFO or CEO should provide a written certification on financial statements which is to be addressed to Board of Directors and not to the market itself. Thus the Board of directors assumes definitive authority by way of director’s declaration made in accordance with the board’s resolutions as a part of corporates annual financial report. ROLE OF DIRECTORS IN CORPORATE GOVERNANCE IN AUSTRALIA: In one of the study conducted by the Australian Council of Super investors reveals that about 61% of Non-executive directors appointed in 2005 in S&P / ASX 100 companies were found to be holding directorships with S&P / ASX 100 companies already in Australia .This shows that holding directorship in S&P / ASX 100 companies is the pre-qualification to act as NED in Australian companies. Study also reveals that there is steady increase in the appointment of NED in Australian companies. About 62% of female directors of ASX listed companies found to be holding more than one board as compared to an average of 41% for males. Remuneration package for the NED services is on the increase and about on average received about $ 154,170 in remuneration for director’s service in Australia. Court decisions in Australia have detailed and explained what is required of a director. A director should have a fundamental objectives of the business in which the company is involved. A director should be aware of the recent happenings in the company and hence it becomes compulsory on the part of the director to attend the board meeting regularly. Directors should develop a familiarity with the financial status of the company and frequently review its financial reports. A director may be appointed as whole time director due to his expertise knowledge and in such events, he has the duty to evince attention to the company’s affairs that might rationally be estimated to attract inquiry. A study conducted by UTS centre for corporate governance in Australia in June 2006 reveals that all the participating Australian companies in the study had included short biographies of their directors in their annual report as demanded by the Australian Corporations Act, 2001. The average size of the Board is 8 with minimum of 4 and the maximum of 14. Majority of board were comprises of independent, non-executive directors and almost only one executive director in the Board. The ASX study of corporate governance practice disclosure in 2005 revealed that about 47% of companies had not complied with inclusion of independent directors in the Board. As per ASIC report issued during October, 2006, it will check the company’s ASX announcements in case if the company has a market cap of less $500m and if it is engaged in the mining, biotech or energy sectors. Further, ASIC is seriously considering its role to make sure that ASX announcements are accurate and timely. As result of this, the director’s responsibility towards corporate governance has become more accountable. While the ASIC’s authority to impose fines for breaches in the continuous disclosures is more relevant in forcing the corporations to adhere the governance standards, it is also toothed with other regulatory measures as per details given below: ASX has recently requested that Cudeco to clarify its explorations results. A suit was initiated against Jubilee Mining NL for $1.8m by one of its shareholders for late disclosure. The federal Court imposed on Chemeq Ltd a $500,000 penalty plus cost for having botched to disclose the increase in cost of construction in its manufacturing facility and the lack of commercial significance of the grant of a US patent. In the case of ASIC v. HIH Insurance Ltd, Supreme Court of New South Wales found that there was violation by the directors and breach of duty under the corporations Act. Rodney Adler was found to breach his duty as director under section 180,181, 182, and 183 of the Australian Corporation Act and Dominic Fodera was found to be breached the section 180.   Further the Court held that payment of $ 10 million to a related party violated the related party provisions as well as the Australian Corporation Act, 2001 dealing with the extending financial help in the purchase of its parent’s shares. CONCLUSIONS: Australian governance laws and regulations are not prescriptive in nature and instead they recognize that diverse governance structures coincide better for different entities.   Since US have introduced tougher corporate governance codes, the Australia may follow the suit in very near future. In Australia, disclosure is required both periodic and on continuous basis. For instance, all listed companies to disclose well in advance the price sensitive information to the market operator who will then make it available to market participants. However there is lack of severe penalties in case of breaches for disclosure. Thus taking advantage to this loophole, most of the corporates want to avail this as a justification to shun disclosures. The Australian corporations should cope with the international developments on corporate governance. The board should be made aware what is being happening in the overseas. Some argue that the corporate governance is nothing but a cultural issue and in achieving the governance, one has to battle with human nature every day. To obviate these breaches, it is recommended that ASIC should be toothed with more powers to levy administrative fines.   This would definitely augment suppleness, cost-effectiveness and appropriateness of remedies. This will also strengthen the integrity of the law by offering an impartial remedy for conduct that is otherwise absent. It is reported that present disclosure obligations under listing rules is of ambiguous in nature mainly pertaining to the continuous disclosure obligations.   It is necessary to redraft the listing rules to explain the existing exclusions, transforming the balance in favor of disclosures in all but under short circumstances. With the template reviews advocated by the 2003 Uhrig Report which is well under consideration, it is necessary to pause and hold in mind that governance is a means to an end. Proper implementation of governance will contribute to social and economic welfare through efficiency, ethical behavior and competitiveness. It maximizes the profit in the private sector and it monitors the expenditure of pubic monies in public sector. It has become also need of the hour to reintroduce the obligation on the part of a company to respond market rumors in specific situations.   One has to take into cognizance non-accountability of press who publish false rumors thereby triggering movement of share price in the market which creates a not informed and uninformed market. Thus it has become corporates onus to intervene and to augment the market’s state of knowledge. Thus the Corporate governance is the tool to redress the conflicts of interest between various ‘role players’ in the industry and encourages them to share more responsibilities to adhere corporate accountability. [1] http://www.iccwbo.org/corporate-governance/id3615/index.html [2] Awards for best investor relations by Australian companies , JCN Newswires , Septemeber,19,2005. [3] http://www.asic.gov.au/asic/ASIC.NSF/byid/B285C74C43B87CBBCA256FDC00818039?opendocument [4] Dale, Luke, â€Å"Australian Companies and Sarbanes-Oxley: Governance regulations in a parallel universe, Publication, Keeping Good Companies. [i] Dale, Luke, â€Å"Australian Companies and Sarbanes-Oxley: Governance regulations in a parallel universe, Publication, Keeping Good Companies. Brada, Josef C., and Inderjit Singh. 1999. Corporate Governance in Central Eastern Europe: Case Studies of Firms in Transition. Edited by Josef C. Brada, Saul Estrin, Josef C. Brada, Alan Gelb, Inderjit Singh, Josef C. Brada, Inderjit Singh, Saul Estrin, Xavier Richet, Josef C. Brada, and Inderjit Singh. Armonk, NY: M. E. Sharpe. Francis, Ronald D. 2000. Ethics and Corporate Governance: An Australian Handbook. Sydney, N.S.W.: University of New South Wales Press. Hollingsworth, Kathryn, and Fidelma White. 1999. Audit, Accountability, and Government. Oxford: Clarendon Press. Power, Michael. 1997. The Audit Society: Rituals of Verification. Oxford: Oxford University Press. Sherman, Hugh, and Rajeswararao Chaganti. 1998. Corporate Governance and the Timeliness of Change: Reorientation in 100 American Firms. Westport, CT: Quorum Books. Stapledon, G. P. 1996. Institutional Shareholders and Corporate Governance. Oxford: Clarendon Press.    Strathern, Marilyn, ed. 2000. Audit Cultures: Anthropological Studies in Accountability, Ethics, and the Academy. London:    Bryan, Dick. 2000. The Rush to Regulate: The Shift in Australia from the Rule of Markets to the Rule of Capital. Australian Journal of Social Issues 35, no. 4: 333.    Business Focus; the Imperatives of Developing an Enterprise-Wide Risk Management and Governance Framework. 2004. Manila Bulletin, 21 June, NA.    Cheverton, Jeff. 2005. Past Their Peak? Governance and the Future of Peak Bodies in Australia. Australian Journal of Social Issues 40, no. 3: 427+.    Des Horts, Charles-Henri Besseyre. 2002. Governance, Knowledge Creation, and Organizing: An Afterthought. Human Resource Planning 25, no. 4: 48+.       Fort, Timothy L., and Cindy A. Schipani. 2003. Adapting Corporate Governance for Sustainable Peace. Vanderbilt Journal of Transnational Law 36, no. 2: 377+.    Gourevitch, Peter A. 2003. Political Determinants of Corporate Governance: Political Context, Corporate Impact. Yale Law Journal 112, no. 7: 1829+.    Kay, John, and Aubrey Silberston. 1995. Corporate Governance. National Institute Economic Review.    Marks, Robert E. 2002. Corporate Governance, or Where Does Ownership Lie? Australian Journal of Management 27, no. 2: i+.    Paredes, Troy A. 2004. A Systems Approach to Corporate Governance Reform: Why Importing U.S. Corporate Law Isn’t the Answer. William and Mary Law Review 45, no. 3: 1055+.    Vancea, Minodora D. 2003. Exporting U.S. Corporate Governance Standards through the Sarbanes-Oxley Act: Unilateralism or Cooperation? Duke Law Journal 53, no. 2: 833+.

Altruism among humans Essay

This paper presents an examination of the phenomenon of ‘altruism’ among humans. Altruism is defined as a behaviour that may be to one’s advantage but is also to the advantage of others. The questions of why we behave this way or what motivates us to behave in this manner and the relevance to society today are the focus of this paper. Various research and theories has explained why altruistic behaviour is undertaken intentionally in the human world. Introduction We often read or hear about acts of generosity and courage, such as, fund raisers or concerts to  help homeless people, the fostering of a child and sponsoring his or her education, or of volunteers risking their lives to help victims in incidents like September 11 terrorist attack in the United States. We could have donated some money to orphanages or cared for a wounded dog. Such humane acts are defined by Psychologists as ‘altruism’ (Moghaddam, 1998). Altruistic acts could be unselfish or done for personal gain or egoistic reasons. Indeed in a psychological paradigm, psychologists believe that true altruistic behaviour does not exist (Moghaddam, 1998). But how do we account for the behaviour of Mother Theresa or Mahatma Gandhi and many other unselfish acts of human endeavours? In order to explore this we have to understand the ‘person variable’ and ‘situational variable’ motivating the altruistic act (Simons, Kalichman & Santrock, 1994). As we are aware behaviour is determined by personal and situational variables. A person’s ability to empathise with the needy or to feel responsible for another’s welfare has great impact on altruistic behaviour. Situations influence the strength of the altruistic motivation. Reciprocity and exchange are important aspects of altruism (Simons, Kalichman & Santrock, 1994). Humans give and receive from others everywhere. Reciprocity is the basic principle of every religion in the world for example, Judaism, Hinduism, Christianity, Buddhism and Islam (Brosnahan, 2003). To act altruistically, requires consciousness and caring, and similarly, pet owners can often cite altruistic behaviour or at least conscious acts of kindness on the part of cats and dogs (Simons, Kalichman & Santrock, 1994). Another good example would be the nursing,  profession founded on the notion of helping people, sometimes even at a cost to nurses themselves. There are many ways people show altruism. To explain why we do altruistic acts like volunteering, donating or raising funds, we need to distinguish between four different forms of altruism which are observed in humans – that shown towards kin, a partner, a friend, and individual who does not fit into these categories (http://www. theunityofknowledge. org/the_evolution_of_altruism/introduction. htm, 2003) Of the several types of altruism a main focus has been on ‘heroic altruism’ (Moghaddam, 1998). It is a short term intervention requiring physical action and tends to fit more the masculine gender. On the other hand ‘Nurturant altruism’ requires more patience, listening and a caring attitude with long term involvement. This more closely fits the image of the traditional feminine gender (Moghaddam, 1998). The ‘Bystander’ effect greatly influences helping behaviour, because of common ignorance of bystanders and assumptions about other bystanders’ actions. Each person’s scope of responsibilities can decrease in the presence of others ( Moghaddam, 1998). In  order for Bystander to help he or she has to posses social skills to interpret the situation and take appropriate actions (Moghaddam, 1998). Initially from a theoretical perspective if a person knows how to overcome obstacles to he or she giving help, subsequently other people start questioning whether the helping behaviour was true altruism (Moghaddam, 1998). A later there was a theory of Daniel Batson – ’empathy-altruism’, believes that people help out of a genuine desire(Moghaddam, 1998). Other theories propose that altruistic behaviour is egoistic and put the hypothesis that helping behaviour is a way to  repair a helper’s image (Moghaddam, 1998). Methodology An interview was conducted with a woman who volunteers her services with meals on wheels and has done nearly sixteen years. She is a retired school teacher living alone. I assumed that her altruistic behaviour had a self fulfilling motive. Therefore I chose her and I wanted to clarify or confirm my assumption. In order to facilitate my focus interviewee was given ten questions asking about her volunteering profile, and her motivating factors. This interview created awareness of other influencing factors motivating her altruistic behaviour.

loose change essays

loose change essays Come mothers and fathers throughout the land, And don't criticize what you can't understand, Your sons and your daughters are beyond your command, Please get out of the new one if you can't lend your hand, Bob Dylan, The Times They Are A-Changin' The Sixties gave us some of the most radical changes in our history. The Vietnam War and the Anti-war movement, student protests, the music, drug use, mini skirts, communal living, sexual freedom, Womens Liberation, and the Civil Rights Movements, to name a few. These events changed the face of our country and depicted a sense of looseness amongst the young people during this time. Sara Davidsons Loose Change: Three Women of the Sixties, guides us on a vivid tour of these events through the eyes of Tasha, Susie, and herself, and gives us an up close and personal look at this time of change..."loose change." The idea of "loose change" is portrayed throughout Davidsons book. For instance, many students in the Sixties found one reason or another to protest the government establishment. Civil Rights for blacks was one platform for them to express their political views. Sara tells about a protest, which took place when a local supermarket refused to hire blacks for good jobs. After picketing failed to accomplish their goals the protesters came up with a new tactic: a shopin. "This is how it worked: students would wheel shopping carts sown the aisles, load them to the brim and abandon them at the check stand saying coyly, Oh, I forgot my wallet. Others went around rearranging the shelves and dropping food on the floor" (pg. 57). Sara witnessed Susie participating in the shopin by throwing potatoes on the floor. Sara, Susie, and Tasha all took part in another Civil Rights demonstration against The Sheraton Place Hotel. The protest was staged because they only had ...

Essay on Business Ethics- People, ProfitsEssay Writing Service

Essay on Business Ethics- People, ProfitsEssay Writing Service Essay on Business Ethics- People, Profits Essay on Business Ethics- People, ProfitsSome people like gambling in Las Vegas. They are prepared to put their resources to support businesses that are probably not eco-friendly (massive energy use to keep the desert cool; water diverted to maintain golf courses only relatively few use, and so no). The businesses could argue that they are morally neutral, and only responding to customer demand. Now, Elkington wants businesses to be more accountable for their environmental practices. Does it matter that a highly profitable company (e.g., a casino) could print a true account of its activities and suffer no societal sanction or penalty? Should we regulate them on a societal level? Should they be more environmentally conscious?  Businesses should be more accountable for their environmental practices. According to researchers, â€Å"environmental management skills will need to be developed to monitor performance, and protect and conserve natural resources†(Olson, 2009, p. 48). A lthough some business owners argue that their businesses are morally neutral, and only responding to customer demands, there is a necessity to enhance environmental practices through considerable changes in everyday activities. For example, the delivery of water to Las Vegas should not cause damage to the environment. Employees should be more concerned about the environmental impacts of business development. A highly profitable company like Las Vegas Casino should direct its activities toward the implementation of healthy environmental policies, avoiding penalties and societal sanctions.To start with, it does matter that a highly profitable company (e.g., a casino) could print a true account of its activities and suffer no societal sanction or penalty.   Businesses like Las Vegas casino require special attention due to continual economic expansion of such places. Christopher Norment (2014) argues that â€Å"the best chance for protecting the aquatic species and eco-systems of the region might involve a prolonged long-term economic downturn for Las Vegas† (p. 227). At the same time, the proper strategies could be used to reduce negative impact of businesses on the environment. It is necessary to realize that if businesses suffer no societal sanction or penalty for their environmental impacts, the government is weak in solving global problems (Gibson, 2006). Societal sanctions should be powerful to address the needs and requirements of communities, which face environmental risks.Undoubtedly, we should regulate businesses on a societal level. Businesses should bear responsibility for their actions through effective regulation of their corporate behavior on social and environmental issues. As a rule, high priority environmental impacts of the high profitable companies like Las Vegas Casino are centered on water use, waste disposal and energy consumption. Businesses should combine specially developed environmental strategies with high profits (Dixon, 2014) . Society should have a strong impact on environmental regulation because government –regulated policies may lack certain elements that affect implementation. On a societal level, any environment-related policy could be analyzed in a proper way. If businesses are regulated on a societal level, there could be more benefits for society.In general, businesses should be more environmentally conscious because this issue is an issue of public concern. It is necessary to integrate environmental programs into the company’s system of control and accounting in order to meet the needs of society. Environmental managers should be able to share their knowledge and experience with others to foster eco-friendly environment (Wrisberg Udo de Haes, 2009). If businesses are prepared to support eco-friendly environmental practices, there would be no sanctions or penalties. This fact means, businesses could function based on ethical principles, which are aimed at maintaining healthy envir onment.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   In conclusion, it is necessary to conclude that any business should be accountable for its environmental practices. Las Vegas Casino is no exception. A highly profitable company like Las Vegas Casino should use the proper strategies aimed at implementation of healthy environmental policies, avoiding penalties and societal sanctions. In general, Elkington’s decision to make businesses more accountable for their environmental practices is essential for maintaining eco-friendly environment. As a result, it does matter that the activities of a highly profitable company should be well-planned to avoid societal sanction or penalty.

Ionic Equation Definition and Examples

Ionic Equation Definition and Examples An ionic equation is a chemical equation where the electrolytes in aqueous solution are written as dissociated ions. Usually, this is a salt dissolved in water, where the ionic species are followed by (aq) in the equation to indicate they are in aqueous solution. The ions in aqueous solution are stabilized by ion-dipole interactions with water molecules. However, an ionic equation may be written for any electrolyte that dissociates and reacts in a polar solvent. In a balanced ionic equation, the number and type of atoms are the same on both sides of the reaction arrow. Additionally, the net charge is the same on both sides of the equation. Strong acids, strong bases, and soluble ionic compounds (usually salts) exist as dissociated ions in aqueous solution, so they are written as ions in the ionic equation. Weak acids and bases and insoluble salts are usually written using their molecular formulas because only a small amount of them dissociates into ions. There are exceptions, especially with acid-base reactions. Examples of Ionic Equations Ag(aq) NO3-(aq) Na(aq) Cl-(aq) → AgCl(s) Na(aq) NO3-(aq) is an ionic equation of the chemical reaction: AgNO3(aq) NaCl(aq) → AgCl(s) NaNO3(aq) Complete Versus Net Ionic Equation The two most common forms of ionic equations are complete ionic equations and net ionic equations. The complete ionic equation indicates all of the dissociated ions in a chemical reaction. The net ionic equation cancels out ions that appear on both sides of the reaction arrow because they essentially dont participate in the reaction of interest. The ions that are canceled out are called spectator ions. For example, in the reaction between silver nitrate (AgNO3) and sodium chloride (NaCl) in water, the complete ionic equation is: Ag(aq) NO3-(aq) Na(aq) Cl-(aq) → AgCl(s) Na(aq) NO3-(aq) Notice the sodium cation Na and nitrate anion NO3- appear on both the reactants and products side of the arrow. If they are canceled out, the net ionic equation may be written as: Ag(aq) Cl-(aq) → AgCl(s) In this example, the coefficient for each species was 1 (which is not written). If every species had started with a 2, for example, each coefficient would be divided by a common divisor to write the net ionic equation using the smallest integer values. Both the complete ionic equation and the net ionic equation should be written as balanced equations. Source Brady, James E. Chemistry: Matter and its Changes. John Wiley Sons. Frederick A. Senese, 5th Edition, Wiley, December 2007.

Comparing and Contrasting File Systems used by Windows Essay

Comparing and Contrasting File Systems used by Windows - Essay Example This paper presents a comparison between the key file systems used by Windows Operating System - FAT16, FAT32 & NTFS and also provides a brief introduction on Encrypted File System. The File system in Windows can be selected at the time of installation of the Operating System, or at the time of creating a logical volume within a single physical hard disk or an array of hard disks using RAID 0, RAID 1 or RAID 5. Windows allows a very simple method to convert the file system of a logical volume from FAT 16 to FAT 32 or from FAT 32 to NTFS without taking down the server or loss of data. However, Windows doesn't allow a backward conversion from NTFS to FAT 32 or from FAT 32 to FAT 16. For a backward conversion, the disk needs to be formatted and volumes created again. The characteristics of a file managed by the Operating System in terms of size limitations & security depend upon the file system chosen. The File Allocation Table (FAT) actually is a registry of hexadecimal values that identify the location of clusters within a logical partition. This helps the operating system to locate all the clusters constituting a file. This process is important because all clus ters constituting a file are not stored at one place but are distributed across the entire Hard Disk Storage (a process called Fragmentation). The OS maintains two File Allocation Tables within a cluster such that if one is corrupted, the second can be used. The FAT assigns a hexadecimal address FFF7 to a bad cluster (due to surface or magnetic errors) such that the OS is able to recognize them while collating clusters to access a file. FAT16 has some distinct disadvantages that are addressed by FAT32 and FAT32 in turn have some distinct disadvantages covered by NTFS. The following section presents the differences among the three primary file systems and introduction to the other file systems that are supported by Windows XP, Windows Vista and Windows 2000/2003. File Systems supported by Windows XP and Windows 2000/2003: The FAT16 in earlier versions of MS DOS used to be 2 GB of logical partition (Volume) size but with the introduction of NT by Microsoft enabled it to support 4 GB of Logical partition (Volume) size. It has two primary limitations - length of file name and size of clusters in a 2GB/4GB partition. FAT16 supports a file size of only eight characters with three extension characters. No spaces in between characters were allowed. Moreover, the minimum cluster size in a 2GB/4GB partition is 32 KB. This lead to lot of wastage of disk space because file sizes of a few KBs used to block 32 KB clusters (A cluster cannot be shared; it is always dedicated to a file). THE FAT16 file system supported limited entries in the boot file and limited number of files per directory. These limitations of FAT16 were eliminated by Microsoft by

Family study Assignment Example | Topics and Well Written Essays - 500 words

Family study - Assignment Example its, with the Indians and Mexican Americans (Hispanics) being categorized as closely-knight families emanates from their traditional socio-political and economic conditions. The Africans had to live together as large family units, to be able to fend for themselves, since the status of slaves did not offer opportunities for venturing into prime economic generation ventures (Newman, 2007). The Mexican and the Indian Americans had to form tightly-knight together families, due to the need to establish identity either as acquired/immigrant group or as the invaded group, respectively. This traditional social construct of minority families define the structure of these families to present day. Focusing on race and ethnicity in defining the structure of minority families is woefully misleading, since there is no set of shared physical characteristics that tie people together (Newman, 2007). The attempt to understand families should be based on the similarities that exist across ethno-racial and religious groups, since focusing on differences results in emphasizing the boundaries distinguishing the members from non-members (Newman, 2007). Additionally, focusing on the differences results in the analysis of belonging to a certain group is something to be proud or ashamed of, instead of focusing on the cultural uniqueness of the different groups (Newman, 2007). This results in a negative social construction. Assimilation should therefore be the aspired mode of defining the future American society. Nevertheless, ever reaching a point of where racial and ethnic categorizations are irrelevant does not seem a possibility. Growing in an interracial or interfaith family has the advantage of helping to break the racial stereotypes held by different races against one another. However, the major disadvantage associated with growing up in an interracial or interfaith family is the difficulty of building a self-identity (Newman, 2007). This is owing to the fact that self-identities

Art Criticism Term Paper Example | Topics and Well Written Essays - 750 words

Art Criticism - Term Paper Example One of Tooker’s most renowned painting, Government Bureau (1956) is a figurative portrayal of bureaucratic system: the viewer sees the depiction of a typical government office in the mid1950s’ America: walls painted light yellowish color, square pillars support the ceiling, pendant ball-shaped lamps, numerous desks arranged carefully in the office space with clerks peeping though the portholes in matte glass, and people waiting for their turn to be processed. As we look at the foreground, we see a man in a coat who is possibly waiting for his turn or observing the scene. It seems that he is the ‘newcomer’ who is a little confused by the arrangement of the office and numerous lines. However, as the glance shifts to the left, we identify another identical man standing farther. Then, looking at other people in the office, we see that all of them are identical: copies of men and women stand in queues or at the desks. On the other hand, clerks’s faces â⠂¬â€œ or their fragments visible though the holes in matte glass – are identical, too. Moreover, they are holding their hands over the call buttons â€Å"ready to summon the next client† (McKiernan 140). While the clients’ faces are hidden from the viewer, wary faces and hands over the call buttons are all the viewer can see of the clerks’ figures.

Tragic Dramas of Oedipus Rex and Antigone Essay

Tragic Dramas of Oedipus Rex and Antigone - Essay Example It was up to the playwrights to teach the people how to behave and the rules of society within the metropolis. While many of the plays were comedies, demonstrating the more ridiculous consequences that could be experienced if individuals did not abide by the established codes of conduct, others were dramas, revealing much more serious potentialities that could affect more than just the average citizen. As they were presented, these dramas demonstrated the degree to which the entire culture could be disrupted if someone in power chose to break the rules. Some of these dramas have survived into the modern day because they had such a profound effect on their audiences and told stories about mythological or legendary characters and events. Dramas such as Oedipus Rex and Antigone are good examples of this kind of tragic drama. To qualify as a tragic drama, Aristotle identified three main factors that were present in every tragic drama and which were essential to the plot development. Thes e factors were referred to as hamartia, anagnorisis and peripeteia. The term hamartia commonly refers the idea of a tragic flaw (Aristotle, 1282). It is the concept that a noble person will fail due to some inherent flawed portion of his character which causes him to engage in a specific behavior pattern or make an error in judgment rather than due to the manipulations of a vengeful god or as a result of violating the gods' laws. Although the audience might see it, even they are not necessarily supposed to recognize the hero's mistake or misbehavior at the time he commits it, but it will eventually become clear through the action of the play that without this mistake, the tragedy would not have happened. This eventual realization of the initial mistake on the part of the character is what is referred to as anagnorisis (Aristotle, 1283). In Aristotelian terms, this word essentially means recognition. In most cases, this realization occurs suddenly for the character in a kind of epiph any moment when the hero finally understands that they brought this fate on themselves. This epiphany can also shed light on the true nature of all the characters within the play, sometimes something much different than what was expected or assumed. The anagnorisis leads naturally into the third element, that of peripeteia. This term refers to a sudden reversal in action or position based upon logic and intellect (Aristotle, 1283). In tragic drama, it refers to the reversal of the character's fortunes - everything they had is lost. This reversal of fortunes flows naturally as a part of the story, but it usually takes the audience, and the character, by surprise. Although this idea can be traced as a part of the hero’s character, it was more typically used to refer to the external circumstances surrounding the event and the character. Understanding these key elements of a tragic drama helps modern day students characterize these plays simply by looking to see if they adhere to the concepts. In Oedipus the King, for example, the action opens as Oedipus addresses his people, who have come to him hoping he will cure their city of a plague. Rather than encourage them to pray to the gods, Oedipus ridicules them for their prayers and tells them they should have come to him first: â€Å"What means this reek of incense everywhere, / From others, and am hither come, myself, / I

The Novelty of Whole Foods Market Essay Example | Topics and Well Written Essays - 500 words

The Novelty of Whole Foods Market - Essay Example The Net Income was $203.8 million and the annual growth was 49.5%. It employs 39,500 people worldwide and is free of unions. (Hoovers). This is a result of its clear Management Strategies. Â  Determining the strategic drivers of the company is the primary task of top management. This mission is aided by PEST and SWOT Analysis. With this assessment, objectives are set. This involves the formulation of Vision Statements, Mission Statements, Corporate Objectives, Strategic Business Units, and Tactical Objectives. These objectives suggest a strategic plan. The plan provides the details of how to achieve these objectives. Once the plan is formulated it needs to be implemented. The implementation process must be detailed to the minutest degree as this is the crux of the whole strategy. (Thompson Arthur A.,) Â  WFM’s mission statement has been spelled out as the stakeholder philosophy. For them it is customers first, then the team members, balanced with what’s good for other stakeholders, such as shareholders, vendors, the community, and the environment. (Corporate Board Member, January/February 2007). These are the core values of the company that has been followed with exceptional zeal throughout their corporate history. It must be said that the leadership has played a vital role in this outcome. Â  The Chairman and CEO John P. Mackey was named the 2003 Overall National Ernst & Young Entrepreneur of the Year. This a tribute to his overall commitment that has keyed up the whole company for almost three decades. His handling of delicate issues like the confrontation with Michael Pollan, author of The Omnivores Dilemma, both in person and through his blogs, (Mackey. John), and his statement on Conscious Capitalism has gone down well with both the customers as well as Wall Street. He has stated that conscious capitalism is in harmony with all interest and each stakeholder, be it the customer, worker or shareholder.

Mobile Phone Battery Wirless Charger Lab Report

Mobile Phone Battery Wirless Charger - Lab Report Example The wireless power enables the electrical energy to be transmitted from the source of power to an electrical load. The system operates without connecting wires. The system is important because it is used in places where interconnecting wires are impossible, inconvenient, or hazardous. A mobile Phone Battery wireless charger is a system that charges mobile phone battery using a wireless charger. The idea behind wireless charging is to plop the device on the shelf and have it charged. The technology replaces cable wiring and standardize on a single interface. Additionally, the interface will be able to adjust the power setting to charge various types of batteries. The mobile phone battery wireless charged has two circuits; receiver circuit and transmitter circuit. The transmitter circuit has a step down transformer of 230V to 12V (â€Å"Wireless technology prospects and policy options†, 2011). The transformer steps down 230 Voltage from 12 Volts. Consequently, the 12V AC is then converted into 12 Voltage DC by a bridge rectifier. A 2200/25V capacitor then filters ripples and pure Direct Current is supplied. The oscillator circuit with the assistance of transmitting coil, will oscillate at 10MHz, thereby transmitting the wireless power. The receiver circuit will then receive the power with the help of a receiving coil and flow through the circuit of a voltage multiplier (â€Å"USB Cellphone Charger circuit†, 2008). . The voltage multiplier circuit consists of the capacitor voltage multiplier and diode. ... Consequently, I would to thank our department chairs, Professor Carl Fred, and Professor Brian White, whose support demonstrated concern for international wireless technology supported by commitment in modern technology and comparative literature. Additionally, a thank you to my professor Milton Smith, who introduced me to wireless technology, and whose hard work and passion for the wireless technology has a lasting effect. I want also to thank my University for the consent and approval including the copyrighted pictures as part of my research paper. I sincerely thank the press publishers for offering me with pertinent sources for this paper which was initially published by â€Å"mobile wireless charger† journal. I also want to pass my gratitude to my friends, family, and classmates for the financial assistance granted to facilitate my research work. I have taken effort for this research paper. However, it would be impossible with the sincere support and assistance of various individuals and organizations. I would extend my sincere appreciation to the above named persons and the university. Table of Contents 1. Abstract 2 2. Acknowledgement 3 3. Introduction 5 4. Background 6 5. Proposed Methods 9 6. Results 11 7. Conclusion 12 8. References 15 Introduction The paper is a lab report detailing a mobile phone battery wireless charger. The paper explains each element in the diagrams and how they operate in the circuit. Consequently, the paper analyses the diagram geometric analysis of how they operate and the possibilities of problems and errors. The wireless power enables the electrical energy to be transmitted from the source of power to an electrical load. The system operates without connecting wires. The system is important because it is used in places where

The Novelty of Whole Foods Market Essay Example | Topics and Well Written Essays - 500 words

The Novelty of Whole Foods Market - Essay Example The Net Income was $203.8 million and the annual growth was 49.5%. It employs 39,500 people worldwide and is free of unions. (Hoovers). This is a result of its clear Management Strategies. Â  Determining the strategic drivers of the company is the primary task of top management. This mission is aided by PEST and SWOT Analysis. With this assessment, objectives are set. This involves the formulation of Vision Statements, Mission Statements, Corporate Objectives, Strategic Business Units, and Tactical Objectives. These objectives suggest a strategic plan. The plan provides the details of how to achieve these objectives. Once the plan is formulated it needs to be implemented. The implementation process must be detailed to the minutest degree as this is the crux of the whole strategy. (Thompson Arthur A.,) Â  WFM’s mission statement has been spelled out as the stakeholder philosophy. For them it is customers first, then the team members, balanced with what’s good for other stakeholders, such as shareholders, vendors, the community, and the environment. (Corporate Board Member, January/February 2007). These are the core values of the company that has been followed with exceptional zeal throughout their corporate history. It must be said that the leadership has played a vital role in this outcome. Â  The Chairman and CEO John P. Mackey was named the 2003 Overall National Ernst & Young Entrepreneur of the Year. This a tribute to his overall commitment that has keyed up the whole company for almost three decades. His handling of delicate issues like the confrontation with Michael Pollan, author of The Omnivores Dilemma, both in person and through his blogs, (Mackey. John), and his statement on Conscious Capitalism has gone down well with both the customers as well as Wall Street. He has stated that conscious capitalism is in harmony with all interest and each stakeholder, be it the customer, worker or shareholder.

Control Over Prices Essay Example for Free

Control Over Prices Essay The degree of control over prices which the companies may exercise varies widely with the competitive situation in which they operate. Sellers operating under conditions of pure competition do not have any control over the prices they receive. A monopolist, on the other hand, may fix prices according to his discretion. Sellers operating under imperfect competition may have some pricing discretion. The marketer, therefore, needs to know the degree of pricing discretion enjoyed by him. Wal-Mart is selling varieties of items and one of these is Toys. It has got a good percentage of customers in the market but other competitors have also have their own share and Toys R Us is quite close to it. Both the companies have their own approach of pricing the toys in the market. The approach is whether WalMart should use the loss leader pricing policy to stay comfortable in the market. Perfect competition is said to exist when (i) there are a large number of buyers and sellers, (ii) each purchasing and selling such a small quantity that their withdrawal from the market will not affect the total demand and supply, (iii) the products sold by sellers are homogeneous in nature. Prices under perfect competition are determined by the forces of supply and demand. Prices will be fixed at a point where supply and demand are at equilibrium. In pure competition, all that the individual seller can do is to accept the price prevailing in the market, i.e. the company is in the position of a Price Taker. If it wants to charge a higher price, buyers will purchase from other sellers. And it need not charge less since it can sell its supply at the going market price. Under monopoly, a single producer has complete control of the entire supply of a certain product.   The main features of monopoly are (i) there is only one seller of a particular good or service and (ii) rivalry from the producers of substitutes is so remote that it is almost insignificant. As a result, the monopolist is in a position to set the price himself. Thus, it is in the position of a Price Setter. Even in the case of monopoly, there are limits to the extent to which it can increase its prices. Much depends on the elasticity of demand for the product. This, in turn, depends on the extent of availability of substitutes for the product. In most cases, there is rather an infinite series of closely competing substitutes. Bigger organizations must take into account potential competition by alternative services. The closer the substitute and greater the elasticity of the demand for a monopolist’s product, the less it can raise its price without frightening away its customers. Monopolies are constantly tending the break down due to many reasons: (i)shifts in consumer demand, (ii) continuous process of innovations and technological developments leading to development of substitutes, (iii) lack of stimulus to efficiency provided by competition, (iv)entry of new competitors.   Loss leader pricing policy of Wal-Mart It is a type of strategy applied by the company where the item is sold below the cost price in an effort to balance other profit sales. It is just another way of promoting sales of the products which are slow moving or to counterbalance some other competitive firm. It is the market situation characterized by a few sellers each having an appreciable share in the total output of the commodity. In each of these industries, each seller knows his competitors individually in each market. Each company realizes that any change in his price and advertising policy may lead rivals to change their policies. Hence, Wal-Mart may consider the possible reactions of the other firms to its own policies. The smaller the number of firms, the more interdependent are their policies. In such cases, there is a strong tendency towards close collaboration in policy determination both in regard to production and prices. Such type of   industries are usually characterized by what is known as price leadership—a situation where firms fix their prices in a manner dependent upon the price charged by one of the firms in the industry,i.e.,Toys R Us, called the price leader. The price leader has lower costs and adequate financial resources, a substantial share of the market and a reputation for sound pricing decisions. Price leaders with the strongest position in the market may often increase their prices with the hope that competitors will follow suit. Price followers may also delay raising their prices in the hope of snatching a part of the market share away from the leader. Monopolistic competition is a market situation, in which there are many sellers of a particular product, but the product of each seller is in some way differentiated in the minds of consumers from the product of every other seller. None of the sellers is in a position to control a major part of the total supply of the commodity but every seller so differentiates his portion of the supply from the portions sold by others, that buyers hesitate to shift their purchases from his product to that of another in response to price differences. At times, one manufacturer may differentiate his own products. Wal-Mart sells toys of many brands. This differentiation of product by each manufacturer by giving it a brand name gives him some amount of monopoly if he is able to create goodwill for his product and he may be able to charge higher prices thereof to some extent. Still, his product will have to compete with similar products of other manufacturers which puts a limit on his pricing discretion. If he charges too high a price, consumers may shift their loyalty to other competing suppliers. One can find it out by going to the market, as a large number of toys are subject to a large degree of product differentiation as a means of attracting customer. As long as a consumer has an impression that a particular product brand is different and superior to others, he will be willing to pay more for that brand than for any other brand of the same commodity. The differences real or illusory may be built up in his mind by (a)   advertising, and (b) his own experience and observation. The producer gains and retains his customers by (a) competitive advertising and sales promotion, (b) the use of brand names quite as much as by (c) price competition. Product differentiation is more typical of the present day economic system, than either pure competition or monopoly. And, in most cases, a firm has to face monopolistic competition. It tries to maintain its position and promotes its sales by either (i) changing its price and indulging in price competition, or (ii) intensifying the differentiation of its product, and (iii) increasing its advertisement and sales promotion efforts. Instead of the cost, the emphasis here is on the market. The firm adjusts it own price policy to the general pricing structure in the industry. Where costs are particularly difficult to measure, this may seem to be the logical first step in a rational pricing policy. Many cases of this type are situations of price leadership. Where price leadership is well established, charging according to what competitors are charging may be the only safe policy. Normal pricing is not quite the same as accepting a price impersonally set by a near perfect market. Rather it would seem that the firm has some power to set its own price and could be a price maker if it chooses to face all the consequences. It prefers, however, to take the safe course and conform to the policy of others. Prices of certain goods become more or less fixed, not by deliberate action on the sellers’ part but as a result of their having prevailed for a considerable period of time. For such goods, changes in costs are usually reflected in changes in quality or quantity. Only when the costs change significantly the customary prices of these goods are changed. Customary prices may be maintained even when products are changed. For example, the new model of toy may be priced at the same level as the discontinued model. This is usually so even in the face of lower costs. A lower price may cause an adverse reaction on the competitors leading to a price war so also on the consumers who may think that the quality of the new model is inferior. Perhaps, going along with the old price is the easiest thing to do. Whatever be the reasons, the maintenance of existing prices as long as possible is a factor in the pricing of many products. If a change in prices is intended, Wal-Mart must study the pricing policies and practices of competing firms and the behavior and emotional make-up of his opposite number in those firms. References Philip Kotler (2002) Marketing Management, Prentice-Hall, New York Beaumont, P.B.,(1999) Pricing Policies and Procedures, Sage Publications, London, . Flippo Edwin B., (1989) Marketing Management, McGraw-Hill, New York Purecell J.,Boxall P.,(2003) Marketing Development, Plagrave, Macmillan, New York.

HR Challenges In Companies International Expansion

HR Challenges In Companies International Expansion Nowadays with the companies increase pace to expand internationally, seeking new markets and chances, HR managers face different problems and challenges in human resources department. Knowing that it is more difficult to manage employees abroad, than if employees were in the home base. The growth of companies internationally determines new assignment and tasks and there is a need to successfully manage this for the benefit of both the firm and the individuals. This research study observes the change from domestic to international HR management, which examines issues of culture, contracts, agreements, recruitment process, and remuneration in companys expansion to other countries. All the same, the paper discusses suggestions for HR managers, which involve cultural research, and the functions of selection, training, performance management and remuneration. In this new era of globalisation, international human resource management is becoming a vital concept for human resource managers to be able to practice human resources functions, starting to mention, recruitment selection, performance appraisal, compensation benefits, training development and finally employees relations. This is important for human resource managers in multinational corporations and also in domestic based human resource managers who import employees from overseas. To stay updated with the changing world, human resource managers will have to have an international vision of how to manage their individuals successfully both at home and abroad. Managing international human resources allows companies to participate more effectively in the market place, and is a developing tool for its employees. Part 1: Introduction Human Resources Definition These last decades, humanity is witnessing the growth of globalization. Nowadays Human resources is no longer a traditional personnel, and administration, however Human resources role is more strategic that deals with strategic aspect, to make sure that employees contribute effectively and works in parallel with the company direction to achieve the firms goals and objectives. In other words, Human Resources is no longer only involved in paperwork, paying the employees their salaries and providing them with the benefits; yet it plays one of the organizations important role that is through hiring, training developing and most importantly retaining employees for the benefits of both parties. (McNamara, 1999) Gilley define human resources as The people employed by an organization (Gilley, Eggland, Gilley, 2002, p. 5). They define human resource management as the recruitment, selection, retention, development, and utilization of and accommodation to human resources by organizations (Gilley, et al., p. 9). Human Resources refer as well to the policies, systems and employment practices that are common to most firms, which are used first to attract talented people by recruiting and selection, secondly retaining talented people by salary, benefits and employees relations, and finally developing the people by training, development and performance appraisal. Thus, human resources is considered as an organization function, that focus on recruitment, providing career path for the people who work in the firm, and deals with personnel issues such as hiring, compensation benefits, performance appraisal, safety, employees motivation and finally training development. Knowing that Human Resources are no longer a business partner, but a strategic partner more related to the firm strategic goals. I will focus on the challenges that HR managers face while international expansion. How HR manager role differs around the world, and the need of the HR professions to be more familiar with culture awareness, language barriers, social differences and diversity promotion. (Halcrow A, 1998). Nearly every company say it People are our most important assets Human Resources importance and Need in International Companies The Human Resources department is important in all multinational and international companies. Recruiting and selecting is one function completed by HR, and their main responsibility is hiring and retaining companys most important asset that is our PEOPLE. Failure to do so, and lack of strong, motivated and satisfied employees, working in the right place in a firm will leads to hiring the wrong people, high turnover, employees will not do their best in their jobs and having some candidates demotivated. Thus, without good employees, the best business plan and ideas will be unsuccessful. Moreover Human resources take care of all the employees concerns, make sure to solve employees issues immediately and to play the fair judge between the employee and the organization, for both sides advantage. Nevertheless, Human resources guarantee smooth functioning of the operation, good and safe working conditions and ensure that all staff is performing their jobs efficiently and toward the organization goals and objectives. Accordingly, Human Resources Manager evaluates all the employees, reward, takes disciplinary actions or dismissal. Another important role under the human resources umbrella is training and development, and creating career path for all employees, to retain and develop the existing employees, and attract new talented people, in this way the HR will improve the organization reputation and commitment from staff, thus become an employer of choice and reduce turnover. Why Human Resources are important and needed for international expansion? In this world of globalization, and companys expansion to other countries, Human resources are important to be able to adopt new cultures, and take care of all legal requirements as per the new country rules and regulations, as well as managing payroll, and other presented benefits. These new skills create a new role for HR managers, requiring them to be strategic business partner.(Bharti Venkatesh). What could be the HR Challenges in companies International Expansion? Part 2: Analysis of the Organization Through the research study, I am discussing out the HR challenges that companies face while international expansion, and the study that companies have to accomplish from an HR perspective before opening in new markets. I am also investigating on the importance of HR functions in companys international expansion. For this aim to see how HR functions operates in the real life I took the example of Wooden Bakery expansion to KSA. Thanks to my manager, and due to my personal experience in Wooden Bakery human resources department, I had the chance to know in details the challenges the HR department face, while international expansion. Additionally I read lot of articles, books and blogs that I will mention in the end of my research. I will start by a small presentation of Wooden Bakery and then i will go deeper into the challenges of international expansion to KSA. 2.1- Wooden Bakery History Wooden Bakery was founded in Jal El Dib Lebanon in 1969 by Mr. Edward Bou Habib. It was a simple Bakery providing the market with freshly baked quality Bread. In the last decade Wooden Bakery literally revolutionized the bakery industry in Lebanon by setting new standards and upgrading its products and services. Edwards two sons Assaad and Ghassan Bou Habib planned and designed the new concept on paper in 1996. With immense vision and an innovative spirit, Wooden Bakery developed a unique concept gathering Bread (of all kinds), Pastries, Sweets, Sandwiches, Salads and Deli. The first Wooden Bakery Outlet opened at Zalka highway in October 1999. Wooden Bakery launched the first franchised operation in 2002 and expanded to 26 franchised outlets in Lebanon by the end of the year 2012. Wooden Bakery opened the first Master Franchise Operation in Saudi Arabia in July 2009, and currently negotiating the scale of the Master Franchise with a number of companies from the GCC countries. (www.woodenbakery.com) The Concept of Wooden Bakery Factory Wooden Bakery system revolves around a state of the art industrial baking facility. It includes the latest and most advanced machinery and equipment in the baking industry. Human Resources department make sure to hires top Master Bakers, Pastry Chefs, and highly qualified Managers and Quality Controllers to assure the freshest and most consistent products for our markets. The Wooden Bakery factory produces from 100 to 150 tons of flours per day depending on the market need and factory size. Wooden Bakery is the leading supplier of high quality Freshly Baked Arabic Bread in the Lebanese market. The Concept of Wooden Bakery Outlet Wooden Bakery Outlets are designed to service all classes of people in any market around the globe. All Wooden Bakery Outlets are located on Main Road Arteries in Strategic Areas, and considered as a One-Stop-Shop where one can buy Fresh Hot French and Arabic Bread, French, Arabic and American Sweets. The Wooden Bakery Outlets offers all mentioned products at Competitive Prices and offer a warm ambiance through its Unique Design, Clean Safe Environment and Excellent Service for its customers. 2.2- Mission and Vision Mission Statement: Our mission is to push our presence and create a brand in the Bakery Industry by Offering MORE and Delivering BETTER Vision Statement Our vision is to dominate the market by building stores on all main road arteries and major cities and towns in Lebanon and beyond, Our products would be available at ALL grocery stores, supermarkets, catering companies and therefore in every single home in Lebanon. 2.3- Local and Multinational Expansion Wooden Bakery first Outlet opened at Zalka highway in October 1999. The first Wooden Bakery franchised operation launched in 2002 and expanded to 26 franchised outlets in Lebanon by the end of the year 2012. Baabda-Hazmie Mansourieh Bauchrieh Elyssar Awkar Zouk Mikael Zouk Mosbeh Jounieh Jbeil Kfarhbab Amioun Tripoli Zahleh Zalka Jal El Dib Fanar Dekwaneh Chtaura Roumieh Burj Hamoud Sour Zgharta (Soon) Achrafieh (Soon) Chiah (Soon) Naccach (Soon) Bayada(Soon) Wooden Bakery opened the first Master Franchise Operation in Saudi Arabia in July 2009, and currently negotiating the sale of the Master Franchise with a number of companies from the GCC countries. Wooden Bakery KSA Wooden Bakery plan was centred on the key concept that customer satisfaction all over the world is the main goal. It has established and developed its first Master Franchise in Riyadh, Kingdom of Saudi Arabia on July 2009. Its successful set up can be measured by how our products and services that we supply meet however surpass the Saudi customers expectations. The Bread Factory Outlet was built on a 10,000 m2 space to house all the production equipment that will supply Bread and Pastry products and Central Kitchen Food Production to a number of outlets along with the wholesale distribution of Wooden Bakery Products. The Store is spread over two levels that house a main showroom with an eating area and a restaurant. Wooden Bakery has received the award for the Fastest Growing Lebanese Company at the prestigious Social Economic Award 2011, instituted by the global communications agency First Protocol to recognize outstanding achievements by organizations in the social and economic sphere. Today, the name of Wooden Bakery not only spells trust and quality, however, it has become a marked proof that a brand can be born, even in the Lebanese bakery industry. Wooden Bakerys expansion in the Lebanese territory has facilitated the achievement of the owners mission, proving that Wooden Bakery is worthy of the award that comes as a natural translation of its ever-expanding drive to Offer More and Deliver Better. 2.4- Wooden Bakery SWOT Analysis SWOT Analysis Strengths Serves all classes of people Big Variety of products (produced and non-produced by WB items) One Stop Shop Mushrooming Franchise (outlets are located on main roads in strategic areas) All outlets have the same image Product differentiation in the PRESTO section sandwiches. Ex. Rustic Bread Customers loyalty Quality (Shelf life limited) Freshness products (core value) Diversity of products (Arabic, French Pastries Viennoiserie charcuterie Arabic Bread) Rank among the top 25 companies in Lebanon Hold high level of market share in Leb. Balance menu (variety, quality, and price) Quality Control Management during process, on final product and in outlets Franchise Support Weaknesses Outlets are rented premises which leads to increase the operating expenses Franchise operated outlets might not have same level of loyalty as the outlets owned by Wooden Bakery Increase in raw materials and labour costs Not every franchised store owner get involved in the PL statement No direct authority High start-up cost Delivery Service Advertising plan to increase sales through brand awareness Family Business Opportunities Market trend turning bakeries into a wider shopping outlets Healthy eating trend Opening new and international markets New inventions for competition Threats Increase in Labour costs put pressure on button line margins Increase in raw materials costs put pressure on gross profit margins Quality of service focus with the presence of competitors in the market Many competitors (bakerys, supermarkets, etcà ¢Ã¢â€š ¬Ã‚ ¦ Recommended Strategies to decrease the weaknesses and threats Part 3: Methodology and Results 3.1- Describing Human Resources at Wooden Bakery At Wooden Bakery, the human resources department used to work the traditional personnel management tasks, generating payroll and registering employees in NSSF. With the new era of globalisation, Wooden Bakery had to create a new concept and expand more to be able to compete with the market, with this new idea that exceeds only serving the market with bread, Wooden Bakery needed people to make the concept a reality. With more than 500 employees, the company needed a human resources department implanting all human resources functions to be able to succeed with the plan and become more a strategic partner. The Main human resources achievement was shifting from personnel management to human resources management, implementing all human resources functions, and be more involved in Wooden Bakery strategic plan. Human Resources department today mainly concentrates on recruitment, management, and providing directions and guidance for the people who work in Wooden Bakery, and off course hiring the right people in the right places. Human Resources department deals with employees concerns such as compensation, hiring, performance appraisal, employee motivation, safety, benefits, employees relations, and training development. Knowing that no one can evaluate employees better than the direct managers with the help of the HR department, The HR department main goal was to promote a positive atmosphere to be able to expand internationally with an encouraging environment. However, Wooden Bakery HR department make sure that all the employees are effectively contributing to the overall company direction and to accomplish the organization goals and objectives. The administration roles usually played by the Human Resources department are becoming increasingly aligned with the company strategic plan, which in turn is evolving the HR into becoming: Human Resources Management. 3.2- HR Functions in Wooden Bakery 3.2.1- Recruitment and Selection The ability of Wooden Bakery to achieve its objectives of profitable and sustainable growth and high-quality product and service standards depends on the quality of its Human Capital. The recruiting function, which directly affects the quality of Wooden Bakerys human resources, will represent a critical function in the companys development. It is therefore important that a clear recruiting mechanism is established in order to optimize applicant selection, while supporting Wooden Bakerys strategic orientation and values. Proper and professional recruiting is necessary in order to avoid undesirable effects, including: Negative publicity or damage to the companys image Wasted time and effort to interview applicants who do not meet Wooden Bakerys needs Cost incurred in training recruits who should not have passed the recruiting interviews High turnover rates The hiring process in Wooden Bakery includes Recruiting, Processing, Eliminating, Selecting, Rejecting, File Building, Placing, and Orienting. The recruiting process is divided into three phases: Pre-recruiting, Recruiting, and Post-Recruiting. It involves: Posting a job advertisement in appropriate places Evaluating the information provided on each application Screening candidates to determine which ones to interview Verifying references and information Conducting personal interviews Deciding who will be offered the job Orienting the new employee about the organization 3.2.2- Performance appraisal Wooden Bakery faced a problem in its environment, having a negative atmosphere among its employees, almost a good number of its employees have the impact that they are not fairly treated, and based to my research employees have to be motivated to be able to give the best to their job. Wooden Bakery had to promote a positive environment to be able to expand internationally with employees with high morals. Accordingly, Wooden Bakery created a new assessment concept for evaluating employees, 365 Evaluation, that is created to monitor and evaluate the productivity of Wooden Bakery administration and management staff throughout the year. The concept covers three different aspects and tackles employees productivity by looking at: Missions accomplished (Monthly Evaluation) Key performance indicators (KPI) (Quarterly Evaluation) Yearly competency evaluation The purpose of the 365 Evaluation is to: Monitor the productivity of Wooden Bakery administration and management staff throughout the year. Compensate and reward exceptional achievements, and where applicable take disciplinary actions against under-achievers. The benefits to be gained from conducting performance appraisals include: Recognizing accomplishments and reflecting the results through monetary terms (Salary increase, Promotion, Bonus, etc.) Identifying newly acquired competencies Preparing employee development plans Planning improvement where deficiencies are found Goal-setting Communication between supervisors and employees Monthly Evaluation Mission Based Mission based evaluation is a tracking system that records and rates the mission undertaken by Wooden Bakery administration and management staff on Monthly Basis. Title Subtitle Illustration 1-Mission Details Title Missions name Date Duration Date of registering the idea and expected mission duration Owner The employee who created the idea and who is the custodian for its implementation Department Self-explanatory Mission Scope Objectives Scopeis the sum total of all products, services and outcomes needed to make sure that the mission is successfully done. Objectivesare the benefits, outcomes, or performance improvements that are expected to be accomplished by the mission. Authority Structure List of personnel involved and needed for the completion of the mission and the designed authority distribution 2-Mission Program Task Breakdown Breakdown of tasks and assigning a start and a duration for each task Start Duration 3-Mission Kick-off Registration Owner Signature The mission owner has to register the mission with the HR department after it has been noted by the direct supervisor and approved by the concerned VP Direct Supervisor VP (Concerned) Human Resources Manager 4-Mission Evaluation Score for Innovative At the completion of the mission, the owner has to get the formal evaluation of the concerned VP. 3 criteria will be used to evaluate the mission (Innovative, Importance, Impact) Score for Importance Score for Impact 5- Approvals 3 parties and the checking of the Internal Audit department Once rated by the concerned VP, the mission score is registered by the HR in the Mission Tracking System. The internal Audit team is entitled to monitor the proper implementation of the system. Quarterly Evaluation (Productivity Based) The Quarterly Evaluation is a system that measures the productivity of Wooden Bakery administration and management staff by looking at five (5) aspects: Attendance Mission Accomplishment Policy and Procedure Development (creation and implementation of new procedure) Introduction of Improving Ideas (Cost saving ideas Process improving ideas) Productivity Measurement (Vary from one department to another each department will be evaluated by using five indicators) Yearly Evaluation (Competency Based) The Yearly Evaluation is a systematic way of measuring, reviewing and analysing employee performance on a yearly basis and using the information gathered to plan for the employees future with Wooden Bakery. The feedback is used to judge employee effectiveness as well as provide necessary Training and development to improve the employees contributions to the Wooden Bakerys goals. The purpose of the Yearly Evaluation at Wooden Bakery is for the manager or the direct supervisor and the concerned employee to have an open discussion about performance expectations and actual performance. The employees actual level of performance is compared to the estimated level of performance using standards that were developed by the supervisor. This expected level of performance is to be derived from competencies needed to perform the job in the highest level of professionalism. The comparison of actual performance with expectations and standards serves as a basis for recognizing accomplishments and planning for improvement where insufficiencies are found. Performance appraisals may also be utilized in a progressive disciplinary process to resolve continuing poor performance. 3.2.3- Training and development Wooden Bakery encourage growth and career development of its employees by coaching, and helping them to achieve their personal goals, through providing adequate training, encouragement of staff development, and chances for growth. Wooden Bakery training methods include: Orientation training, Orientation training is the process Wooden Bakery use for welcoming a new employee into Wooden Bakery family. New employee orientation, often organized by a meeting with the Human Resources department, that generally contains information about the new job description, the work environment, company culture, company history, the organization chart, tour of department, introduction to colleagues, Wooden Bakery rules and regulations, etcà ¢Ã¢â€š ¬Ã‚ ¦ On-the-job-training, on the job training is used in both our branches and factory to teach new employees how to perform job duties. Sometimes training sessions take place in the headquarters and some other times on site. For example, customer service, food safety and hygiene, menu implementation. Conferences and Seminars, Wooden Bakery works on developing its employees skills by sending them to international conferences, Seminars and Workshops. Some of the trainings attended by Wooden Bakery administration employees: RD Technician and RD Manager were sent in 2010 to Las Vegas to attend Baking Industry Trade Fair Production Manager and RD Manager were sent in 2012 to Bulguim to attend Professional training session held by PURATOS Quality Controller Supervisor and RD Supervisor were sent in 2012 to Paris to attend training with Chopin Technologies Maintenance Manager was sent in 2012 to Vienna to attend a conference in ROSENDAHL Company. 3.2.4- Compensation and benefits The term compensation in Wooden Bakery refers to the wages used to reward employees. As for benefits, Wooden Bakery offers paid vacations to its employees. Wooden Bakery wishes to maintain a sense of fairness and equity within the pay structure Grading System. For each position at Wooden Bakery the following will be defined: The Minimum, the Middle, and the Maximum fixed salary range The minimum and maximum of each fixed salary range is selected in line with market realities, and based on external salary surveys of comparable organizations. The parameters used to determine the weight of each job and thus giving an accurate grade based on numerical study: Know How Technical Knowledge Management Extent Human Relations Highest Education Level Problem Solving Reasoning Decision Making Communication Influence on Others Accountability Freedom to Act Magnitude of Action Impact of Decisions Working Conditions Long Working Hours Working during Holidays Extensive Traveling Hazardous Environment and Critical Encounters The grading system at Wooden Bakery offers a clear career path for employees who show potentials to advance within the company hierarchy. Moving horizontally within the same grade is governed by different factors including: Seniority (1.5 years spent in each level) Performance Appraisal Recommendations Acquiring Additional Skills (Experience and Education) Top Management Discression Moving vertically is governed by different factors including: Performance Appraisal Recommendations Acquiring Additional Skills (Experience and Education) Availability of the vacancy 3.2.5- Employees Relations Wooden Bakery promotes a positive atmosphere, and encourages positive relations between employees, to be able to reach the organization goals and objectives. Employees Relations is concerned to prevent and resolve problems involved by employees which arise out of or might affect Wooden Bakery work atmosphere. Wooden Bakery employees relation involves the relation between the employees with each other or their relation with their supervisors. Wooden Bakery concerned supervisors provide advises on how to correct poor performance and employee misconduct. The Company Disciplinary Action is to help and encourage employees to improve, achieve and maintain standards of conduct, attendance and job performance. It also enables management to deal effectively with those employees who do not comply with Wooden Bakery standards of conduct, attendance and performance in the workplace. Employee relations are designed in a manner which is non-discriminatory and which is Fair consistent and effective. It must also be applied in a timely manner and without undue delay. 3.3- What are the differences between Local HR functions and Global HR functions? The below mentioned HR functions will be the same for the HR management operating locally and globally; Recruiting and staffing Training and development Compensation and benefits Employees relations Performance appraisal But when the company operates globally it has to take into consideration additional aspects. (Jayant R Row, 2010) Globalizing the HR functions: After taking into consideration all the above HR functions and the additional global aspects, the HR department have to make sure that the HR policies fit with the new organization country, the HR department have to modify the policies to fit local requirements. 3.4- Human Resources Planning for Global expansion Global expansion is a growth strategy for the future. It is at the heart of Wooden Bakerys development strategy. The owners are constantly striving to raise market share through expansion primarily in the Middle east and subsequently worldwide, in order to win over increasing numbers of customers. Wooden Bakery began seeking out growth and expansion, looking to reach out into new markets through Master Franchising and/or Partnership/Joint Venture. Wooden Bakery planned to expand worldwide after going through a number of challenges and risks that need to be taken into consideration along with is the Human Resources. The human recourse factor refers to the hiring of employees in the foreign markets, and the challenges and risks that come with doing so. Wooden Bakery will always take into consideration the foreign country laws, rules and regulations, which might be far different from our country of origin and which may seem difficult to manage with. One of the differences is the employees contracts in other foreign countries, which define the parameters of an employees job benefits, including vacation time, working hours, salaries, compensation, severance pay, etc. The differences stated earlier will mandate that the total packages offered abroad are tangibly higher than those offered within the Lebanese region. Thus, the existence of all the above variances means that any organization looking to expand internationally will need to do unlimited researches in regards to the foreign markets, since it might affect its operation. Implementing a global business strategy requires having the right people in the right places; it requires specialized leadership skills-managing the work of people with different backgrounds and customs. 3.5- How to prepare from an HR perspective, for international expansion When a company seeks new opportunities and decide to target new markets, and ex