DBQ for AP World History

he printing press was transformed by Johann Gutenberg, a German goldsmith, and more than 8 million books were printed in Western Europe between 1456 and 1500. This invention had an effect with the Protestant Reformation. It not only furthered the knowledge of geography, but it also expanded knowledge throughout the countries and whether you were wealthy or poor, printing made books available to the general public.By 1560, many people were either Catholic, Protestant, or mixed (Doc. 5). Non-Catholic Western European Christians were the followers of Luther. Luther’s goal was to stir debate around the issue of indulgences. He believed that is was wrong how the churches would encourage indulgences onto the people. Written in one of the 95 Theses, if people bought indulgences, then they would be â€Å"eternally damned† and because of the printing press, the 95 Theses were known throughout Europe (Doc. 3). Luther would compare criminals to the Popes to get his point across. I n document 4, Luther used the word â€Å"robbers†.Robbers steal and he used this word against the popes. The popes were taking money from the people in exchange of an indulgence. Lucas Cranach, a close friend of Luther, made a woodcut to demonstrate not only the comparison between a pope and Jesus, but also how money was a key factor (Doc. 4). Having a point of view from a Catholic German pope in 1521 could give details and evidence of how indulgences were for the better of the people and not for the pope himself.In 1471, the printing press was not known widely. About thirty years later, the invention spread and along with it was a letter (Doc. 2). Christopher Columbus wrote about his experience of inhabited islands he found in the letter and because of the printing press, his letter spread throughout Western Europe (Doc. 6). He wrote this to keep the king of Spain updated and to let the public know his findings. Columbus was a skilled voyager. He wanted to find new routes an d to bring back goods. In 1489, Martellus, a German, was able to create a world map and Columbus was able to improve the map accurately with his travels.Then almost a hundred years later, Abraham Ortelius, a German, was able to create an accurate world map (Doc. 7). In document 6, it is noted that Columbus was believed to have written most of the letter coming back from America. Having a statement from an eyewitness  boarding Christopher’s vessel between 1492 and 1493 could provide a detailed or accurate description on when he wrote the letter.At first, a scribe would be writing a book by hand from the dictation of a scholar. Then in the mid-1500s, print shops would be built (Doc. 1). Just like the evolving of printing and books, knowledge was expanded and it evolved as well. Isaac Newton was able to use previous knowledge of other scholars to become a mathematician himself. He was able to make the world more understanding by expanding on other philosophers like Galileo (Do c. 10).And other scientific individuals were able to do that as well. For example, Johannes Kepler described how lenses work and was able to create an astronomical telescope. After him, Robert Hooke was able to use a microscope to further his observations (Doc. 10). Everything was wrote down and because of the printing press, things got to be published. Publishers were able to print books in different languages and this expanded the ancient ideas even more (Doc. 8). When the books were open to the general public, the ideas spread quickly on a grand scale (Doc. 9).The printing press helped people understand better. It helped Luther spread his opinions throughout Europe and it resulted in Protestant Reformation. Printing furthered geography and it evolved and expanded knowledge. The printing press was able to write things down permanently for all to see and read; now and then.

Country Case Report for China Essay

The third largest land area in the world belongs to the People’s Republic of China. Presently, its population is the largest on the record and its capital, Beijing is the economic and cultural center. China’s economic growth greatly improves due to the trend of poverty reduction during the period of 1980-1990. From 542 million to 375 million, shrinking by 167 million, China’s poverty population exceedingly reduced. Angang stated that China’s achievements in poverty reduction made huge contributions to the cause of poverty reduction of the world (2). According to World Bank, the poverty population of the world dropped off by 98. 3 million. Among the five Asian countries with the most condensed poverty population are India, China, Pakistan, Bangladesh and Indonesia, and according to the industrial poverty line, China’s current proportion of poverty population is the lowest. Statistics show that China has experienced a period of human history in which poverty population decreased by a largest margin in the past 2 decades, and reversed the trend that poverty population has been increasing in the past five decades in the world history, causing the poverty population of the world to decrease for the first time. That is to say, without China’s efforts of poverty reduction, the poverty population of the world would have increased from 848 million in 1980 to 917 million in 1990. (Angang, 2-3). Ambassador Baodong stated that the Development-oriented Poverty reduction program for Rural China for the period of 2001-2010 generated grand effects in the global poverty reduction. The number of rural population in China declined to 21. 48 million and 2. 3% of national poverty incidence was accounted for the 55% of global poverty reduction in 2007 (Baodong, 1). Technological development plays a vital role in the country’s economic growth. From 1980 to 1990, China’s expenditure amounted to US $17billion for imported technology. The trend of research and development made an immense leap. As a result there has been a modest amount of growth in the country’s development however the inefficiencies posted to be the chief dilemma. At the end of 1990, statistics illustrated that 50 of Shanghai’s large and medium enterprises only reached 10 percent of international level of quality standards and 30 percent arrived at the prototype stage using the new programs. From the year 2001 – 2005, this country became a major IT nation in the world, standing third place in manufacturing setting and first rank in telecommunications. The business cycle of the Chinese economy had undergone substantial magnitude from the time when the government established in the mid1950’s centralized economic management and planning. The period from 1979-1990 was depicted with relative stability and high escalation. In 1955-1978 economic growth rates, the movement went from 5. 7 percent to 9. 3 percent in 1979 to 1993 period. Investment cycles, harvest fluctuations, political disturbances, inflation and periodic retrenchments are the major factors that affect business cycles. Downturn was evident during 1980-1981, then an upswing from 1982 – 1989 and the business cycle in 1989 was another downturn and an upturn in 1990. Imai’s stated that his conclusion on Chinese business cycle stated that cycle interacts with exogenous shocks and generates business cycles with dissimilar amplitude and duration. An investment cycle is generated by patterned reaction of central planners who adjust the level of fixed investment in response to capacity pressure, an indicator of macroeconomic tension. An instititutional prerequisite of this cycle is the weak financial accountability of state enterprises (178). Economists added that the efficiency wedge, which represents institutional change and technology advance, was the main source of economic fluctuations in 1978 – 2006. The amplitude of it fluctuation declined after 1992, which resulted in moderation of business cycle fluctuations. Distortions manifest themselves as taxes on investment, which represents frictions in the capital market, became another economic fluctuation source after 1992, which is different from results of business cycle accounting on US and Japan data. Results also show that government consumption and net exports played minor roles in generating business cycles (Gao). China’s world trade generated a strong impact on its growth. Imports and exports led China to be among the world’s most significant export destinations for other Asian countries. Since the year 1979, the country’s global trade gradually improved. Presently, Japan’s exports of 11 percent came from China, before it was only 2 percent during the end of 1990. The Chinese government implemented tariff reductions in order to continue its longstanding trend in world trade. During 2004, China’s tariff rates dropped from 0. 6 to 10. 4 percent. Part of the country’s trade reforms to (WTO) World Trade Organization is to lessen tariff rates and eliminate import quotas and licenses, opening sectors for foreign country involvement such as telecommunications, financial and insurance services. Complete access to foreign participants is greatly assured through automatic licensing procedures. Eradication of limitations on trading and domestic distribution for majority of goods is also part of the plan. According to WTO, China will retain import state trading for wheat, rice, corn, sugar, tobacco, cotton and chemical fertilizers, as with export trading, corn, tea, rice, coal, silk, crude and processed oils, cotton, tungsten and ammonium products are included. In addition to this, China had been permanently bestowed with the most-favored-nation (MFN) treatment by other participants of WTO. As response to this honor, some countries have abolished restrictions on China’s imports. The contributing factor for the possible boost in China’s trade is when quota restrictions are lifted. China’s membership to World Trade Organization made enormous effect on some of the trends in relation to the role of China in international trade. Examples comprise of its magnetism to foreign investors and developing role in global export base. This is evident in IMF statistics that showed its market share in Japan, United States and Europe, from the period 1980 to 1990, an overall total of 10. 3 percent, and end of 2003, a whopping 37 percent (Source: IMF, Direction of Trade Statistics). â€Å"Just as water always flows to the lowest point, China is bound to be the first option for foreign capital investment† (â€Å"China’s Cheap† A1). China’s labor force is considered cheap and also of good quality. It is estimated that 100 million of employees in rural areas are likely to be waiting to be changed to urban workers. The Labor Force Participation Rate (LFPR) is a significant gauge to quantify the labor supply of PR China. In the period of 1980-1990, the LFPR in China is higher among other countries. The most likely basis is moderately low income level. There is high participation in the labor force among women because one wage earner is inadequate to support a family. In the last 5 years (2002-2007), women’s participation in the labor force exceedingly increased according to APEC statistics. Presently, the government was executing the guidelines which were implemented during 1997, which was the division of labor market between urban and rural areas. The labor market is exclusively for high school graduates or those with lower educational background. This probable outcome of this situation is the layoffs in urban places and labor surplus in rural areas. In the coming years, it has been forecasted that China might face a nationwide labor shortage. The country is fast approaching the â€Å"Lewisian turning point†. It is a theory by Arthur Lewis stating the turning point from surplus labor to labor scarcity. In the year 1980, State Council issued a decree prohibiting the use of foreign exchange for making payments in China. Foreign exchange rates or Waihui, equal in value to the Renminbi at effective rate, were put into circulation for use by nonresidents only. It could be use for transportation fares, hotel bills and purchases at Friendship stores. Then in 1981, the foreign trade rate was since fixed at 2. 80 from 1. 750. In 1985, the internal settlement rate was abolished and all trade was governed by the Effective Rate. A foreign exchange retention quota also exists for a portion of export proceeds. Authorization was granted for Chinese residents to hold foreign exchange and open foreign exchange accounts and to deposit and withdraw funds in foreign exchange. In the year 1986, The trade-weighted basket of currencies was abandoned and the Effective Rate was placed on a controlled float based on developments in the balance of payments and in costs and exchange rates of China’s major competitors. Shanghai International Trust and Investment Corporation was authorized to handle exchange business. In 1988, early this year, all domestic entities which are allowed to retain foreign exchange earnings were granted permission to trade in the adjustment centers, and by October 1988, 80 adjustment centers were established. Initially, a relatively small volume of transactions took place in these markets, but the volume has increased substantially since access to the centers was expanded. The Foreign Exchange Swap Rate was 6. 60 from 3. 72. In 1989, regulations were issued governing the use of foreign exchange obtained in foreign exchange adjustment centers. Imports of inputs for the agricultural sector, textile, and for technologically advance and light industries were given priority. Purchases of foreign exchange for a wide range of consumer products were prohibited. Such corporations are permitted to sell in China for foreign exchange provided that the sales involve purchases under the Government’s annual import plan, sales in Special Economic Zones and other promotional areas, and sales of import substitutes. The Foreign Exchange Swap Rate was 5. 40 from 3. 72. By the end of 1990, The Foreign Exchange Swap Rate was 5. 70 from 5. 22. (Ka Fu) Presently, Premier Jiabao stated in the Annual Meetings of the Board of Governors of the African Development Bank Group in Shanghai that the government continues to push the Renminbi exchange rate reform in order to confer larger range to the role of the market. The reform permits citizens to purchase more foreign currencies and commercial banks. Financial market development has been highlighted with China’s monetary reforms. The People’s Bank of China (PBC) has made great strides in modernizing its monetary policy frameworks but their effectiveness will diminish as the sophistication of the economy increases. Empirical evidence supports maintaining a reference to money in China’s monetary strategy and enhancing the role of interest rates in its conduct (Maino, 44). The most suitable monetary strategy for China would be an eclectic monetary policy framework, whereby the growth in money supply and bank credit extension are used as intermediate guidelines for the determination of short-term interest rates. In addition, in deciding on the most appropriate monetary policy stance, developments in a number of other variables need to be taken into consideration, because the monetary aggregates are loosing some of their usefulness as indicators of future inflation due to structural changes in the economy (Maino, 40). The IMF also points out that Chinese monetary policy could improve noticeably if the central bank were granted more discretionary power to set interest rates. In the last two years, increases in the trade surplus and significant inflows of foreign capital have led to a large accumulation of international reserves, which has further complicated monetary policy handling. In this respect, the IMF has welcomed the changes introduced into the Chinese exchange rate system as a significant step towards making this system more flexible. Although it is difficult to define an â€Å"equilibrium† exchange rate, and not just revaluation, must be adopted if china is to increase the independence of its monetary policy and shield its economy against external shocks (Ruete, 8). Works Cited Angang, Hu. China’s economic growth and poverty reduction (1978-2002). 2 June 2003. IMF. 20 April 2008 . Baodong, Li. Remarks by Ambassador LI Baodong At Ministerial Roundtable Breakfast of Economic and Social Council On â€Å"Food, Nutrition and Agriculture: Working Together to End Hunger†. 12 July 2007. China-UN. 22 April 2008 â€Å"China’s Cheap, High-quality Labor Lures Foreign Investment†. Editorial. Xinhua News Agency 21 December 2002, A1. Gao, Xu. Business Cycle Accoounting for the Chinese Economy. N. p. : n. p, n. d. http://www. wdi. umich. edu/files/Publications/WorkingPapers/wp795. pdf Imai, Hiroyuki, Explaining China’s Business Cycles. 6 June 1996. IDE. 22 April 2008 . Ka Fu, Wong. International Economics. 1 January 2007. 23 April 2008. . Manio, Rodolfo. China: Strengthening Monetary Policy Implementation. 1 January 2007. Social Science Research Network. 23 April 2008 . Ruete, Javier. The Development of China’s Export Performance. 7 March 2006. Central Reserve Bank of Peru. 23 April 2008 .

Censoring Huckleberry Finn

Looking back at the researchers, teachers and students of Huckleberry Finn, we all know that high school grows, finds yourself, and is a time to experience different personality of different people. It will also help you prepare for a world that can quickly deal with various people and situations. If you forgive some part of the real world, you are not ready to face life problems and dilemmas. Truncated Mark Twain's Huckleberry Finn is a typical example of closing the real world. In an iterative discussion on whether to reexamine Huckleberry Finn Adventures for high school students, I firmly stand on the side of the insects of traditionalism books encouraging the importance of literature as a lens of observation history I will. . Of course, studying the cultural outputs of every society provides a window to history - enter the intellectual and emotional advantages and disadvantages of humans living at different times or places. For this reason, students should be encouraged to learn art, vision, architecture, music and literature from a wide range of societies and from many eras. Huckleberry Fin's adventure, also known as Mark Twain's novel Huckleberry Finn's Adventure, was published in the UK in 1884 and was published in the United States in 1885. The narrator of this book is Huckleberry Finn. That young man, the oral and dignified speech is perfectly adapted to the scene's detailed, poetic explanation, the brilliant facial expression of the character, and a wide range of comedy. And interpretation of a sophisticated satirical story. Hack escaped his abused father with a raft on a voyage that was long interrupted along with his companion, the runaway slave, and the Mississippi River. On the road, Hack encountered various characters and types, this book depicts almost all people who unforgettably live on the river or along the river. Because of these experiences, Hack learns to overcome traditional racial prejudices and respect and love Jim. Mark Twain's satiri cal work Mark Twain, published in 1885, is his novel Tom Sawyer's Adventure published in 1875. It is a sequel. Huckleberry Finn talks about young teenager Huckleberry Finn and his friendship with Jim, an uneducated slave who escaped from the Mississippi River at various roles and events. The background of the novels occurred in the prewar era of America where slavery and racial prejudice were at the forefront of social problems.

Severe Storm class Assignment Example | Topics and Well Written Essays - 1000 words - 1

Severe Storm class - Assignment Example the heavy storm was issued by the NWS; specifically, residents of the Mid-Atlantic were notified that the storm could reduce visibility up to a level of  ¼ miles for a period of one to three hours. Consequently, the National Weather Service also predicted and warned the residents of the region that the heavy storm would lead to heavy flooding that could affect locomotion along major highways (http://www.weather.com, n.p). The heavy rains subjected the Mid-Atlantic region to severe rainfall floods: Some of these regions are also usually vulnerable to coastal flooding, majorly caused by hurricanes or even tropical cyclones. However, recently as a result of the heavy rainfall, they were affected by rainfall flooding, which specifically affected the Virginia and Pennsylvania. Maryland was also affected by the flood and approximately 9,300 people had to go without power supply from 7:18am (http://www.weather.com, n.p). In Pennsylvania, the rainfall flooding caused a mudslide that led to the closure of the Lincoln Borough Road and approximately 30 people had to be evacuated after the flooding damaged their houses. According news that was provided by the NBC News Station, several schools were closed, specifically schools in Warren, Shenandoah as well as in Fredrick Counties due to the heavy storms that led to the high level of flooding in the region (http://www.weather.com, n.p). Within the same state, officials in Charlottesville reported damaged roads, fallen trees and other aspects of damaged environment due to heavy rainfall flooding. Several Roads were also closed in Virginia i.e. Roads along Rivanna River. Other states that were also affected by heavy rainfall flooding were: Illinois, Michigan, New York, Ohio, Texas, and Washington DC among others. The rainfall that caused the heavy flooding within the Mid-Atlantic Region caused serious social problems among the residents of the region. To begin with, a substantial number of residents in the region had to go

To what extent can duties of environmental preservation be explained Essay

To what extent can duties of environmental preservation be explained in terms of intergenerational justice - Essay Example It is with this rationale that the current paper is written to identify the best modalities, theories and approaches that can be put in place to ensure generational responsiveness environmental preservation. The issue of generational responsiveness is considered necessary because generations of all types including the past generation, present generation, and future generation have different roles to play in environmental preservation (Hayward, 1998). In the light of this, the paper seeks to explain how the duties of environmental preservation can be undertaken in terms of intergenerational justice. Gosseries (2008) lamented that despite the high level of technological progress, we continue to depend highly on the environment and its resources in running industries and economies. Regrettably, this situation has made the threat of environmental destruction a perpetual one. Happy enough, major global stakeholders including both governmental and nongovernmental agencies continue to appreciate the need for curbing the threat of environmental degradation and depletion (Hardin, 1968). It is against this premise that environmental preservation has become one of the most discussed public topics in global discourse. Holistically, environmental preservation can be said to be the process of protecting the environment against destruction and depletion so that future generations can have substantial quantum of natural resources from the environment to support them (Shrader-Frechette, 2009). The scale and nature of efforts made towards environmental preservation has evolved over the years. T he evolution accounts for different terms and concepts used to stand for environmental preservation including such ideas as sustainable development, ecological debt, de-growth, and ecological footprint (Gosseries, 2008). On the whole, environmental preservation have included practices aimed at ensuring the judicious and prudent use of

Palestinian-Israeli Conflict Case Study Example | Topics and Well Written Essays - 1250 words

Palestinian-Israeli Conflict - Case Study Example Several peace solutions were made since the PLO was granted the observer status in the UN as the delegate of the Palestinian Arabs in the year 1974. Along with the UNRWA which was set up in 1949 for relief of the Palestinian refugees, numerous UN institutions were set up to support the cause of the Palestinians. The UN General Assembly resolution 3379 in 1975 which declared Zionism to be a form of racism caused the UN to lose the complete credibility as a neutral mediator in the eyes of Israel and the peace process was never an easy task for the international community. Israel and Egypt signed a peace treaty in 1979 after the US mediation, for which Israel returned the Sinai Desert to Egypt. The secret negotiations in Oslo resulted in an agreement between Israel and the Palestine in which a Palestinian National Authority was established under the leadership of Arafat and the PLO in 1994 and Israel was agreeable to gradually transfer land to this authority. However, theOslo peace proc essgot slowed down as both the parties did not stick to agreements they made and the leadership on both sides failed to build confidence and to prepare their own people for the necessary compromises. Thus, confrontations continued and the peace process gradually dragged on towards the negotiations on Camp David in 2000 which was also a failure. The then US president Bill Clinton presented the 'bridging proposals' in December 2000 which suggested the parameters for a final compromise that included a Palestinian state comprising the Gaza Strip and about 97% of the West Bank, division of Jerusalem and no right of return to Israel for Palestinian refugees. Whereas Israel received this proposal in principle, Palestinian was not ready to accept the suggestion. The two sides failed to reach a settlement in the last minute negotiations at Taba in January2001, in spite of further Israeli concessions. Both the sides, in a joint communiqu, agreed that they had never been so close to an agreeme nt, though issues such as the refugee issue remained. The peace process continued and new negotiations were made in the course of time. "Although both parties accepted the 'Road Map to Peace', launched by the Quartet of US, UN, EU and Russia in 2003, no serious peace negotiations have taken place in recent years between Israel and the Palestinians. Israeli PM Ariel Sharon did take unilateral measures such as the disengagement from the Gaza Strip in 2005, but he demanded an end to Palestinian terrorism before he would engage in negotiations with Arafat's successor Abbas concerning final status issues." (The Arab-Israeli Conflict) However, the peace process for the Palestinian-Israeli conflict is still going on and the international community is expecting a miracle in the solution of the long struggle and the ongoing dispute between the Israelis and the Palestinians. The most pertinent obstacle among the various obstacles against a final and peaceful conclusion to the Palestinian Isra eli conflic

Accounting Research Paper Example | Topics and Well Written Essays - 500 words - 1

Accounting - Research Paper Example This chapter outlines the essence of harmony, and healthy working relations. It is crucial to note that, Dunlap has caused more harm than salubrious. Many companies remained ruined during and after Dunlap’s rein as executive officer (Hooper, 2003). For instance, the application of traditional and crooked ways of bookkeeping, workforce evisceration and executive butt- worship, which characterized Chainsaw’s career in the business world wallowed majority of the firms, which included Sunbeam. They were rendered bankruptcy and crippled (Byrne, 2001). Dunlap’s arrogance can be illustrated in a case where were he fires quarter of the salaried employees of Lilly Tulip. It is imperative to note that, Dunlap’s egomaniacal style and obsession with short-term performance ultimately led to his firing and charged with fraud. Later Dunlap pays millions of dollars to the shareholders and remains banned from heading any public company (Lasdun, 2001). This situation reveals how, work places have risen to become one of the unsafe places as not perceived (Hodas, 2006). It is evidenced by journalistic investigation of incidents that, marginalization, harassment and bullying by administrators are a norm to employees (Beresntain, 1995). In conclusion, Dunlap represented an era characterized by anger, betrayal, self-interest, lies and arrogance for instance, the case where Dunlap rewards the lawyer such that, the intended loyalty and commitment might remain

Ecology of Public Administration, Bureaucracy, and the understanding Essay

Ecology of Public Administration, Bureaucracy, and the understanding of the relationship between democracy and publi administration - Essay Example This is because an administrator is attached to a set of systematic rules that must be followed while politician is entitled to popular rule. The public also plays a significant role in the conduct of administration but not in politics. Richard Stillman also believes that the Constitution was primarily created for the people court, foreign affairs, defense, money and trade relations (Stillman, 2009). This implies that a Constitution shares some fundamental principles with Public Administration because they all follow systematic rules. Therefore, it is difficult to incorporate popular rule, democracy, into the constitution just like Wilson suggested. Therefore, Administration should particularly focus on teaching people the kind of a government system or rule they demand or desire, and how to achieve it. John Gaus had perceived a bright light in applied social science. Through an ecological measure to Public Administration, Gaus believed that new or renewed patterns, in the public administration or institutions, could be achieved from individual people living in the dynamic times (Stillman, 2009). Ecology, in Public Administration, is a significant tool for directing, comprehending and modulating shocks of change, in the current dynamic world. Ecology, in actual sense, means an area or environment of numerous organisms that co-exist in a noble point of natural equilibrium (Stillman, 2009). Ecology is a broad idea in the sense that it deals with the large existence of interrelations of all the living organisms with their environment. Ecology entails balance and existence of nature in a vicious circle that one thing results into another and creates a point of balance. These ecological elements include climate, soil, people, plants and many other things in the ecosystem. Therefore, acc ording to Gaus, ecology is a vital complex analogy that explains the complex Public Administration system (Stillman, 2009). Gaus explains that a

Trying to make superior trading returns using tecnical analysis or Essay

Trying to make superior trading returns using tecnical analysis or fundamental analysis of shares is self-defeating - Essay Example In comparison to their peaks at the end of 2007, the Dow Jones Industrial Average Index and the DAX index have dropped almost 50% in value. Considering recent events many investors have reconsidered the concept of fair value of a stock and the efficiency of techniques used. In addition to this, the approach applied by many academics on Technical and Fundamental Analysis1 and of Efficient Market Hypothesis theory, rather than on how to forecast, has induced us to base the structure of this essay on a similar approach. Therefore in Section 1, 2 and 3 after providing a brief overview of FA and of TA the EMH theory, we have explored alternative views and discussed the validity of the statement in object. After illustrating the need for analysts to create efficiency in Section 4 we have explored the extent to which FA, TA or EMH may be essential to achieve market efficiency. Finally, after examining in Section 5 the Stiglitz-Grossman paradox, in Section 6, we have explored anomalies and i nvalidities of EMH and presented our conclusions. FA found its existence in the firm-foundation theory developed in the 1930s though it was later popularised by Graham. Its purpose is to find and explore all economic variables measuring different economic circumstances and influencing the future earnings of an economic asset. Clearly the philosophy behind FA is that in the end, when enough traders realize that the market is not correctly pricing the asset, the market mechanism of demand/supply, will force the price of the asset to converge to its fundamental value. Early writers on the subject of security analysis assumed that the essence of investing was to determine the "true," "intrinsic," or "fundamental" value of a security and that this value could differ from the current market price. Graham and Dodd (1934) first highlighted the concept of the intrinsic value of a security as a

Schein's Three Cultures of Management and Kouzes and Mico's Domain Essay

Schein's Three Cultures of Management and Kouzes and Mico's Domain Theory - Essay Example The learned theories have then been set into practice and have resulted to positive success as well as negatives failures depending on the individual theories and the ways they get implemented. Among the most renowned and well governing theories are the Schein’s Three Cultures of Management and Kouzes and Mico’s Domain Theory. The two theories exhibit particular similarities concerning the rightful proposals of how the managerial and leadership issues ought to be handled to achieve success of the individual organizations. However, the two theories also have some points of differences that call for careful analysis of the theories by an individual consulting leader before finalizing on particular decisions. Schein’s Three Cultures of Management According to Schein (1996, p.3), a typical organization has to be founded on the basis of three cultures of management including the operator, engineering and executive cultures of management. These cultures have to been in corporated and made to be dependent on each other in order to attain a more comprehensive and complete organizational management. The success or failure of the individual organization then depends on the manner in which the three cultures of management are linked up and run (Schein1996, p.3). ... hat operator culture within organizations enable and empower individual workers opportunities to innovate ideas that are fundamental to survival of the individual organization. In that respect principles of operator culture allows individual workers to operate in disregard to rules set to run particular organizations when certain conditions prevail. While operating complex activities and unanticipated occurrences, operator culture brings workers together by creating interdependency to formulate adaptable strategies for teamwork to accomplish the impending task. Schein (1996, p.13) however indicates that operator culture is often met with rules especially in the case of unpredictable conditions. Schein (1996, p.13) points out that the simmering problem with the operators is that they understand well that for job to be well done then they must involve innovation and personal skills in solving problems as not set out in the rules. However, this becomes difficult due to lack of incentive or managerial support defined to compensate such efforts. The result of such speculations is operators’ subversion of the true and more practical strategies to rely on the set rules. In the observation of Schein (1996, p.15), executive culture mainly applies to the individual CEOs who get promoted to the rank after passing through other levels of organizational management. The executive culture is mainly focused on the maintaining and ensuring adaptable financial health of the individual organization. As outlined by Schein (1996:13), there occurs difference in role between the CEO appointed from among the founders or family heading the organization and the promoted CEO. The former type of CEO exercises broader focus and assumptions in the organization while the later type of CEO focuses

Characteristics of Orientalism Essay Example for Free

Characteristics of Orientalism Essay There are several differences between the Arab and Muslim groups. The actuality is that Arabs are an ethnic group and Muslims are a religious group. A Muslim is a person who practices the Islam religion. In the world, most Muslims are not necessarily Arabs and most Arabs are not necessarily Muslims. â€Å"Orientalism is the simplistic view of the people and history of the Orient, with no recognition of change over time or the diversity within its many cultures† (Schaefer, 2006). This term is a misrepresentation of people from the East by those in the West. One characteristic is stereotyping the difference in religious expression. Discrimination and prejudice are other characteristics of orientalism. For example, the overemphasis of Arab and Muslim women wearing face veils in the media. This is seen as oppressing women but yet the history behind it is not being told. After the 9/11 attacks, the USA Patriot Act, which was passed in October 2001, had specific provisions that condemned discrimination against Arab and Muslim Americans. This act was revised because it had been accused of contributing to the fear within the Arab and Muslim communities. Unfortunately, all policies were not changed in a positive way. The U. S. Department of Justice required all foreign-born Muslim men to report to the Bureau of Citizenship and Immigration Services. They have to be fingerprinted, photographed, and interviewed. There are several things that individuals can do to promote tolerance and reduce prejudice in their towns and cities. One way to achieve this is by treating everyone equally. Another way to reduce prejudice is by educating ourselves about a person’s culture. If we can gain an understanding of an individual’s cultural background, we are opening up our minds to realize that those that we consider â€Å"different† may have similar views.

Evolution of Management Essay Example for Free

Evolution of Management Essay From the Biblical times we find monarchies of the time use some form of management to lord over the great kingdoms such as the Egyptians who used hierarchy management to build the pyramids, Moses leading the Israelites through the desert to the promised land and King David when he was in charge of the kingdom of Israel. In Ancient civilizations, the Roman Empire made use of devolved government to manage the vast empires resources. This was done through governors’ who were in charge of certain areas as we see in the bible during the birth of Jesus Christ. We can find artifacts that in old cities such as Jerusalem where we find aqueducts that give us an idea of how they managed the water resources. Modernization of the world led to cities and towns that brought about the need to manage the resources in order to provide services to the people living within them. We also find management in the church and military before the industrial revolution. The Roman Catholic Church is one example that has had an impact on management as we see in the catholic hierarchy led by the pope and includes cardinals, patriarchs, and bishops. The Military has greatly influenced management through power vested in positions in the chain of command. Management continued to evolve and we find individuals in history who have made contributions to the art of management as we know it; Luka Pacioli was an Italian mathematician considered the father of accounting. He invented the double entry accounting system. Adam Smith was a political economist whose concepts on economics at the beginning of the industrial revolution contributed greatly to management today. Robert Owens, Charles Babbage, Henry Vernum Poor and Henry Robinson Towne are other individuals who were influential to management in this era. With the onset of the industrial revolution, new ways of management came into play as new generations looked to increase productivity of organizations. Classical Era Scientific Management Scientific management was pioneered by Frederick W. Taylor a mechanical engineer who sought to improve industrial efficiency. He saw the need to have management design jobs properly and provide incentives to motivate workers to achieve higher productivity. His ideology was to find the best practice, decompose the task into its constituent elements and get rid of things that do not add value. Taylor’s scientific management gave way to specialization and is considered the basis to many other management systems that came after. Taylor was supported in this new way of management by Henry Gantt who is accredited with the Gantt chart that is widely used for project management. Frank and Lillian Gilbreth were also early advocates of the scientific management system. Through the motion study, Frank sought to make the processes more efficient by reducing the motions while Lillian’s interest was on the human aspect of work. The human aspect of the scientific management principles seek to understand the workers personality and needs. Administrative Management Henri Fayol, was a French engineer and manager of the mines developed the administrative theory of management. He viewed management as an activity common to all human undertakings. He is credited to giving us the first comprehensive functions of management; 1.Planning  2.Organizing 3.Command/Direct 4.Coordinate 5.Control He urged that management was an all encompassing activity that should be taught in schools, colleges and universities. This approach proposed that management is a skill which can be acquired if its principles are understood and rejected the idea that â€Å"managers are born, not made†. Bureaucratic Management A German Sociologist, Max Weber’s approach to management was by focusing on the organizational structure. His views divided organizations into hierarchies with clear lines of authority and control, divided labor such that authority and responsibility are clearly defined and legitimized, organizational officials are appointed and not elected, organization members are selected on the basis of their technical qualification obtained through formal education and training. Organizations are to treat all employees and customers equally and not be influenced by differences. Weber’s principles on organizing can create stable, organized and systematic organizations but make it difficult for the organization to adapt to changing environments and new challenges. Neo-Classical Era Operations Management (Research) Operations management, also known as quantitative management, gives a quantitative basis for decision making. It is characterised by the search for the optimal answer to a problem by using quantitative models. It specially deals with the development of mathematical models to aid in decision making and problem solving. This theory holds that managing is a logical and rationale process, so it can be expressed in terms of mathematical models.

Social Phobia And Fear Of Public Speaking Psychology Essay

Social Phobia And Fear Of Public Speaking Psychology Essay A phobia is an  intense  fear of something that poses little or no actual danger. Common phobias and fears include closed-in places, heights, driving, flying insects, snakes, and needles. However, people can develop phobias of virtually anything. Most phobias develop in childhood, but they can also develop during adulthood. If you have a phobia, you probably realize that your fear is unreasonable, yet you still cant control your feelings. Just thinking about the feared object or situation may make you anxious and when youre actually exposed to the thing you fear, the terror is automatic and overwhelming. The experience is so nerve-wracking that you may go to great lengths to avoid it; inconveniencing yourself or even changing your lifestyle. If you have claustrophobia, for example, you might turn down a lucrative job offer if you have to use a lift to get to the office. If you have a fear of heights, you might drive an extra 20 miles in order to avoid a tall bridge. Understanding your phobia is the first step to overcoming it. Its important to know that phobias are common. Having a phobia doesnt mean youre crazy! It also helps to know that phobias are highly treatable. You can overcome your anxiety and fear, no matter how out of control it feels. It is normal and even helpful to experience fear in dangerous situations. Fear is an adaptive human response. It serves a protective purpose, activating the automatic fight-or-flight response. With our bodies and minds alert and ready for action, we are able to respond quickly and protect ourselves. But with phobias the threat is greatly exaggerated or nonexistent. For example, it is only natural to be afraid of a snarling Doberman, but it may be irrational to be terrified of a friendly poodle on a lead, as you might be if you have a dog phobia. The difference between normal fear and a phobia Normal fear Phobia Feeling anxious when flying through turbulence or taking off during a storm Not going to your best friends island wedding because youd have to fly there Experiencing butterflies when peering down from the top of a skyscraper or climbing a tall ladder Turning down a great job because its on the 10th floor of the office building Getting nervous when you see a pit bull or a Rottweiler Steering clear of the park because you might see a dog Feeling a little queasy when getting an injection or when your blood is being drawn Avoiding necessary medical treatments or doctors checkups because youre terrified of needles Rottweiler dog Feeling a little queasy when getting an injection or when your blood is being drawn Avoiding necessary medical treatments or doctors checkups because youre terrified of needles Normal fears in children Many childhood fears are natural and tend to develop at specific ages. For example, many young children are afraid of the dark and may need a nightlight to sleep; that doesnt mean they have a phobia. In most cases, they will grow out of this fear as they get older. If your childs fear is not interfering with his or her daily life or causing him or her a great deal of distress, then theres little cause for undue concern. However, if the fear is interfering with your childs social activities, school performance, or sleep, you may want to see a qualified child therapist. Which of my childs fears are normal? According to the Child Anxiety Network, the following fears are extremely common and considered normal: 0-2 years   Loud noises, strangers, separation from parents, large objects. 3-6 years   Imagination (i.e. ghosts/monsters), sleeping alone, darkness, strange noises. 7-16 years   Fears such as injury, illness, school performance, death, natural disasters. Common types of phobias and fears There are 4 general types of phobias and fears: Animal phobias.  Examples: fears of snakes, spiders, rodents, and dogs. Natural environment phobias.  Examples: fears of heights, storms, open water, and darkness. Situational phobias (fears triggered by a specific situation).  Examples: fears of enclosed spaces (claustrophobia), flying, driving, tunnels, and bridges. Blood-Injection-Injury phobia.  The fear of blood, injury, needles or other medical procedures. Some phobias dont fall into one of the four common categories. Such phobias include fears of choking, getting a disease such as cancer, germs, illness, death and fear of clowns (yes, really!) Social phobia and fear of public speaking Image-social phobia fear of speaking Social Phobia, also called social anxiety disorder, is fear of social situations where you may be embarrassed or judged. If you have social phobia you may be excessively self-conscious and afraid of humiliating yourself in front of others. Your anxiety about how you will look and what others will think may lead you to avoid certain social situations youd otherwise enjoy. Fear of public speaking, an extremely common phobia, is a type of social phobia. Other fears associated with social phobia include fear of eating or drinking in public, talking to strangers, taking exams, mingling at a party, and being asked to speak in class. Agoraphobia (fear of open spaces) image of angrophobia(fear of open spaces) Agoraphobia is another phobia that doesnt fit neatly into any of the 4 categories. Traditionally thought to involve a fear of public places and open spaces, it is now believed that agoraphobia develops as a complication of  panic attacks. Afraid of having another panic attack, you become anxious about being in situations where escape would be difficult or embarrassing, or where help wouldnt be available immediately. For example, you are likely to avoid crowded places such as shopping centres and cinemas. You may also avoid cars, planes, and other forms of travel. In more severe cases, you might only feel safe at home. Signs and symptoms of phobias The symptoms of a phobia can range from mild feelings of apprehension and anxiety to a full-blown panic attack. Typically, the closer you are to the thing youre afraid of, the greater your fear will be. Your fear will also be higher if getting away is difficult. Physical signs and symptoms of a phobia Difficulty breathing Racing or pounding heart Chest pain or tightness Trembling or shaking Feeling dizzy or lightheaded A churning stomach Hot or cold flashes; tingling sensations Sweating Emotional signs and symptoms of a phobia Feeling of overwhelming anxiety or panic Feeling an intense need to escape Feeling unreal or detached from yourself Fear of losing control or going crazy Feeling like youre going to die or pass out Knowing that youre overreacting, but feeling powerless to control your fear Symptoms of Blood-Injection-Injury Phobia The symptoms of blood-injection-injury phobia are slightly different from other phobias. When confronted with the sight of blood or a needle, you experience not only fear but disgust. Like other phobias, you initially feel anxious as your heart speeds up. However, unlike other phobias, this acceleration is followed by a quick drop in blood pressure, which leads to nausea, dizziness, and fainting. Although a  fear  of fainting is common in all specific phobias, blood-injection-injury phobia is the only phobia where fainting can actually occur. When to seek help for phobias and fears Although phobias are common, they dont always cause considerable distress or significantly disrupt your life. For example, if you have a snake phobia, it may cause no problems in your everyday activities if you live in a city where you are not likely to run into one. On the other hand, if you have a severe phobia of crowded spaces, living in a big city would pose a problem. If your phobia doesnt really impact your life that much, its probably nothing to be concerned about. But if avoidance of the object, activity, or situation that triggers your phobia interferes with your normal functioning or keeps you from doing things you would otherwise enjoy, its time to seek help. Consider treatment for your phobia if: It causes intense and disabling fear, anxiety, and panic. You recognize that your fear is excessive and unreasonable. You avoid certain situations and places because of your phobia. Your avoidance interferes with your normal routine or causes significant distress. Youve had the phobia for over 6 months. Self-help or therapy for phobias: which treatment is best? When it comes to treating phobias, self-help strategies and therapy can both be effective. Whats best for you depends on a number of factors, including the severity of your phobia, and the amount of support you need. Self-help is always worth a try. The more you can do for yourself, the more in control youll feel-which goes a long way when it comes to phobias and fears. However, if your phobia is so severe that it triggers panic attacks or uncontrollable anxiety, you may want to get additional support. The good news is that  phobia treatment has a great track record. Not only does it work extremely well, but you tend to see results very quickly-sometimes in as a little as 1 or 2 sessions.  ©Fearless Putting Ltd. All rights reserved. This site is for information only and NOT a substitute for professional diagnosis and treatment.

People Express Airlines Case Study Essay -- Business and Management St

People Express Airlines Case Study Abstract: In the well documented case of the early low-fare and economy carrier People Express Airlines (PE) the common explanation for the rapid rise and decline is excessive corporate growth. Based on a dynamic resource based, this case finds that it is not only the rate of growth embodied in the resource buildup processes—which determines the outcome of a corporate growth strategy. â€Å"Despite the rapidly increasing financial problem by the spring of 1986, PE continued to win praise for its impact on the airlines industry and the value it offered to customers. But PE was fighting for market share all over the country. In Denver, United and Continental were destroying Frontier. Other airlines continued to entice customers away with low fares and more amenities†, (Pg18, Holland). People Express (PE)’s low fare and economy strategy did change in the speed of corporate growth and in other vital strategic decisions, like implementing a hub and new network and giving service to major airports but later it went down as PE try to grow faster and merge with other airlines. Could people express have been saved? Why or why not? People Express (PE) was the first airline that was opened in the time of US airline deregulation back in 70'. People Express was one of the most impressive business success stories in airlines business, growing to the nation's fifth largest air carrier by mid 80’s, â€Å"In 1985, its revenue were nearly $1 billion. By the end of...

Dangerous Driving And The Effects On Youth Essays -- essays research p

Dangerous Driving and The Effects on Youth   Ã‚  Ã‚  Ã‚  Ã‚  In today's society, dangerous driving is criminal and is also considered to be deviant. There are different levels of dangerous driving, all of which have different meaning to different people, some are considered part of the social norm and others are considered to be deviant. Speeding for example is considered to be a norm of society. Everyone speeds and this is not considered a problem which needs societies immediate attention, however there is a line which changes speeding from being a criminal offense to a deviant offense. The following analysis will provide a descriptive summary of the functionalist perspective, the social control theory and the power control theory.   Ã‚  Ã‚  Ã‚  Ã‚  These theories have been applied to a news story in which two young teens from Dartmouth, Nova Scotia, Renee and Danielle Orichefsky, were killed in a dangerous driving accident. The driver was Ralph Parker, a twenty year old man from Halifax who lost control of his sports car as he attempted to make a turn on the corner where the girls were sitting. This article involves the day of Mr. Park's conviction, the reaction of the girls' parents and also the reaction of Mr. Park's mother.   Ã‚  Ã‚  Ã‚  Ã‚  The problem of dangerous driving as viewed from a theoretical standpoint can easily be identified with the social control theory. The control theory questions not what motivates individuals and society in general to indulge in societal deviant behaviour but rather examines what is within the structure of a society that causes individuals to conform to social laws. A social control theorist would argue that it is social pressures that prevent people from acting out in deviant manners; otherwise people would act upon inborn animal impulses. In this case, Mr. Park it seems felt the need to drive his sports car very fast and dangerously because it catered to his instinctive need for excitement. If Mr. Park had been thinking about the possible consequences of killing two young girls, he may have decided to slow down and be a little more careful. This is because murder is a deviant act in our society and committing murder would not be socially acceptable. Thus it can be concluded that that the structure and organization of society is very influential in determining the conduct of ind... ... to exist. A man who drives slowly and with caution is portrayed as a wimp. A power control theorist would say that this young man was playing on the â€Å"natural â€Å" male instinct to drive in this manner and have some fun.   Ã‚  Ã‚  Ã‚  Ã‚  Risk taking, which is the another factor is very relevant to this case because Mr. Parker took a risk in driving dangerously. The irony in this case is that people who speed or drive recklessly do not see the danger of killing people as the big risk when they are offending. They are more concerned with the risk of being caught by the police for the crime that they are committing. Someone who is driving recklessly knows the consequences of having an accident, but they may not be important to that person at the time of their action which is deviant.   Ã‚  Ã‚  Ã‚  Ã‚  Formal state of control considers that opportunities to deviate are more restricted for females than males. The freedom to take risk is given to boys, this may have been the case in Mr. Parker's family, he (it is assumed) did not have a father figure and took direction from his mother. A power-control theorist would argue that women give more freedom to their sons.

Essay --

Less than 1% of the water supply on earth can be used as drinking water. By the time a person feels thirsty, his or her body has lost over 1 percent of its total water amount. About 25,700 litres (6,800 gallons) of water is required to grow a day's food for a family of four. A child dies every 8 seconds from water-related disease. Groundwater can take a human lifetime just to traverse a mile. A person can live about a month without food, but only about a week without water. If a human does not absorb enough water dehydration is the result. Most of the earth's surface water is permanently frozen or salty. If all the world's water were fit into a gallon jug, the fresh water available for us to use would equal only about one tablespoon When water contains a lot of calcium and magnesium, it is called hard water. Hard water is not suited for all purposes water is normally used for. An acre of corn will give off 15,000 litres (4,000 gallons) of water per day in evaporation. A small drip from a faucet can waste as much as 75 litres of water a day. Of all the water on earth, o...

Human Resource Management and Nestle

Project Report of SHRM On Nestle Topic: Study of SHRM at Nestle Table of Contents 1 S. No. 1. 2. 3. 4. 5. 6. 7. 8. Description Introduction to Company Mission, Vision & Goals of Company SWOT Analysis of the Company SHRM at Nestle Impact of Recession on Nestle Changing role of HR at Nestle VRIO Analysis and 5P’s approach HR Strategies that company should follow Page No. 3-5 6-7 8-10 11-21 22-23 24-25 26-29 30 1. Introduction of the company 2 Nestle is the world’s leading nutrition, health and wellness company. The company employs more than 280,000 people and has 456 factories in 84 countries. Nestle products are sold in almost every country in the world. Founded in 1866 in Vevey, Switzerland, where it is still based, Nestle has often been called â€Å"the multinational among multinationals†. Only about 1. 5 percent of its sales are generated in its home country, and all but 12 of its factories are situated abroad. The CEO is Paul Bulcke, and the General Management includes a Belgian, two Canadians, one Dutch, a Frenchman, a German, a South African/British, three Spaniards, one Swiss, one American and a SwissAmerican. Nestle is a truly public company with over 250,000 shareholders of which around one third are Swiss. No single shareholder owns more than 3% of the stock. US investors, who, together, hold over 30% of the capital, can purchase ADRs through a sponsored program. As the world’s leading nutrition, health and wellness company, Nestle is the worldwide leader in product categories such as soluble coffee, infant nutrition, bottled water, condensed and evaporated milk, ice cream, as well as chocolate and malt drinks, and culinary. The Group is also a co-leader in pet care. The Company is committed to delivering shareholder value through sustainable, capital efficient and profitable long-term growth. Over the past years it has concentrated on furthering organic growth and performance improvement HISTORY OF NESTLE Nestle was the result of a series of mergers of many small companies. In the mid-1860s, Henri Nestle, merchant, chemist and innovator, experimented with various combinations of cow’s milk, wheat flour and sugar. The resulting product was meant to be a source of nutrition for infants, who could not be breast-fed by their mothers. In 1867, his formula saved the life of a prematurely born infant. Later that year, production of the formula, named Farine Lactee Nestle, began in Vevey and the Nestle Company was formed. Henri Nestle wanted to develop his own brands and decided to avoid the easier route of becoming a private label. Henri also wanted to make his company global. Within a few months of the launch, Henri began to sell his products in many European countries. In the company’s initial years, Henri took various steps to facilitate research, improve product quality and develop new products. Meanwhile in 1866, two Americans, Charles and George Page had founded the Anglo-Swiss Condensed Milk Company. The company launched a milk based infant food, which competed with Nestle’s products. In 1875, Daniel Peter, a friend and neighbor of Henri developed milk chocolate. Peter became the world’s leading chocolate maker, and later merged his company 3 with Nestle. The rivalry between Nestle and the Anglo-Swiss Condensed Milk Company intensified but ended in 1905, when the two companies merged under the Nestle banner. World War I created a new demand for dairy products. Nestle grew mainly by executing government contracts. The end of the war created a crisis for the company as people started using fresh milk again, instead of condensed and powdered milk. In 1921, Nestle recorded its first loss, which was partly due to the worldwide postwar economic slowdown. Louis Dapples, a Swiss banking expert restructured the company, streamling its operations and reducing the debt burden. In 1930, the Brazilian Coffee Institute approached Dapples, seeking new products. After eight years of research Nestle developed a soluble powder that revolutionized coffee drinking around the world. The product was launched under the brand name Nescafe and became an instant success. The onset of World War II speeded up the introduction of Nescafe. The beverage also became a popular drink among American servicemen in Europe and Asia. The end of World War II triggered off a new phase of growth for Nestle. Many new products were added as the company grew through acquisitions. After 1974, Nestle’s financial position deteriorated. Oil prices rose and growth in industrialized nations slowed down. The Swiss franc appreciated and the price of coffee beans and cocoa shot up. This situation was partially offset by Nestle’s rapid growth in emerging markets. In 1981, Helmut Maucher took over as CEO. His policies had a significant impact on Nestle’s style of functioning. Maucher pursued a two-pronged strategy to improve the company’s financial situation: First he embarked on internal restructuring and divestments; second he decided to continue with strategic acquisitions. Between 1980 and 1984, he divested a number of non-strategic or unprofitable businesses, amounting to nearly SFr8 bn. The divestments included certain food products that were not consistent with Nestle’s emphasis on high value added segments. To improve the company’s financial situation, he embarked on a cost-cutting exercise. While the employee strength was reduced significantly, the inventory and outstanding debt were brought down. In 1990, Nestle formed a joint venture with General Mills called Cereal Partners Worldwide to promote Nestle breakfast cereals. It covered 70 countries accounting for about 75 per cent of the breakfast cereal consumption outside the US and Canada. Nestle also formed a joint venture with Coca-Cola, called the Coca-Cola Nestle Refreshment Company, to market tea and coffee-based ready-to-drink beverages under the Nestea and Nescafe brands. In 1996, Nestle decided to end its 50-50 Clinic Nutrition joint venture with Baxter Healthcare and established Nestle Clinical Nutrition to provide orally consumed nutrition products to hospitals and nursing homes. Nestle opened the 20th century by merging with the Anglo-Swiss Condensed Milk Company to broaden its product range and widen its geographical scope. In the new millennium, Nestle is the undisputed leader in the food industry, with more than 470 factories around the world. Nestle 4 launched a Group-wide initiative called GLOBE (Global Business Excellence), aimed at harmonizing and simplifying business process architecture; enabling Nestle to realize the advantages of a global leader while minimizing the drawbacks of size. The Company’s strategy will continue to be guided by several fundamental principles. Nestle’s existing products will grow through innovation and renovation while maintaining a balance in geographic activities and product lines. Long-term potential will never be sacrificed for shortterm performance. The Company’s priority will be to bring the best and most relevant products to people, wherever they are, whatever their needs, throughout their lives. 2. Mission, Vision and Goals of Nestle VISION OF NESTLE â€Å"Nestle’s aim is to meet the various needs of the consumer everyday by marketing and selling foods of a consistently high quality. † MISSION OF NESTLE 5 We strive to bring consumers foods that are safe, of high quality and provide optimal nutrient to meet physiological needs. Nestle helps provide selections for all individual taste and lifestyle preferences. † BUSINESS OBJECTIVES OF NESTLE†¢ Nestle’s business objective is to manufacture and market the Company’s products in such a way as to create value that can be sustained over the long term for shareholders, employees, consumers, and business partners. †¢ Nestle does not favor short-term profit at the expense of successful long-term business development. Nestle recognizes that its consumers have a sincere and legitimate interest in the behavior, beliefs and actions of the Company behind brands in which they place their trust and that without its consumers the Company would not exist. †¢ Nestle believes that, as a general rule, legislation is the most effective safeguard of responsible conduct, although in certain areas, additional guidance to staff in the form of voluntary business principles is beneficial in order to ensure that the highest standards are met throughout the organization. Nestle is conscious of the fact that the success of a orporation is a reflection of the professionalism, conduct and the responsible attitude of its management and employees. Therefore recruitment of the right people and ongoing training and de velopment are crucial. †¢ CORE VALUES †¢ A prerequisite for dealing with people is respect and trust. †¢ Transparency and honesty in dealing with people are a sine qua non for efficient communication. This is complemented by open dialogue with the purpose of sharing competencies and boosting creativity. †¢ †¢ To communicate is not only to inform; it is also to listen and to engage in dialogue. The willingness to cooperate, to help others and to learn is a required basis for advancement and promotion within our company. 3. SWOT Analysis STRENGTHS †¢ Parent support – Nestle India has a strong support from its parent company, which is the world’s largest processed food and beverage company, with a presence in almost every 6 country. The company has access to the parent’s hugely successful global folio of products and brands. †¢ Brand strength – In India, Nestle has some very strong brands like Nescafe, Maggi and Cerelac. These brands are almost generic to their product categories. Product innovation – The Company has been continuously introducing new products for its Indian patrons on a frequent basis, thus expanding its product offerings. Operated factories in 77 countries (all six continents), a truly global company. Considered the innovation leader in the global food and nutrition sector(3500 scientist in company R&D network) Low cost operators (beat the competition by producing low cost products, edging ahead with low operating costs) Offering thousands of local products. Have a great CEO, Peter Brabeck, and a very strong workforce. †¢ †¢ †¢ †¢ †¢ †¢ WEAKNESSES †¢ Exports – The company’s exports stood at Rs 2,571 m at the end of 2003 (11% of revenues) and continue to grow at a decent pace. But a major portion of this comprises of Coffee (around 67% of the exports were that of Nescafe instant to Russia). This constitutes a big chunk of the total exports to a single location. Historically, Russia has been a very volatile market for Nestle, and its overall performance takes a hit often due to this factor. Supply chain – The Company has a complex supply chain management and the main issue for Nestle India is traceability. The food industry requires high standards of hygiene, quality of edible inputs and personnel. The fragmented nature of the Indian market place complicates things more. Some of their product were positioned as too scientific, and consumers didn’t quite understand (i. e. LC-1 was a food and not a drug) †¢ †¢ OPPORTUNITIES 7 †¢ †¢ †¢ †¢ †¢ Expansion – The Company has the potential to expand to smaller towns and other geographies. Existing markets are not fully tapped and the company can increase presence by penetrating further. With India's demographic profile changing in favor of the consuming class, the per capita consumption of most FMCG products is likely to grow. Nestle will have the inherent advantage of this trend. Product offerings – The Company has the option to expand its product folio by introducing more brands which its parents are famed for like breakfast cereals, Smarties Chocolates, Carnation, etc. Global hub – Since manufacturing of some products is cheaper in India than in other South East Asian countries, Nestle India could become an export hub for the parent in certain product categories. Health-based products are becoming more popular in the world, including in the United States Unaffected by current economic conditions (its share of the UK confectionery market rise to 15. 6 per cent with a 0. 5 per cent growth this year) THREATS †¢ †¢ †¢ †¢ †¢ †¢ Competition – The Company faces immense competition from the organized as well as the unorganized sectors. Off late, to liberalize its trade and investment policies to enable the country to better function in the globalised economy, the Indian Government has reduced the import duty of food segments thus intensifying the battle. Changing consumer trends – Trend of increased consumer spends on consumer durables resulting in lower spending on FMCG products. In the past 2-3 years, the performance of the FMCG sector has been lackluster, despite the economy growing at a decent pace. Although, off late the situation has been improving, the dependence on monsoon is very high. Sectoral woes – Rising prices of raw materials and fuels, and inturn, increasing packaging and manufacturing costs. But the companies’ may not be able to pass on the full burden of these onto the customers. Some markets they are entering are already mature Global competitors. There are intense competitions in the United States, especially yogurt market (General Mills) 4. SHRM at Nestle NESTLE – A HUMAN COMPANY 8 Nestle is a human Company providing a response to individual human needs throughout the world with specific concern for the well-being of both its consumers and its employees. This is reflected in its attitude and its sense of responsibility towards people. Nestle aims to increase sales and profits but, at the same time, to raise the standard of living everywhere it is active and the quality of life for everyone. Nestle is also convinced that it is the people who form the strength of the Company and that nothing can be achieved without their commitment and their energy, which makes people its most important asset. Involvement of people at all levels starts with appropriate information on the Company’s activities and on the specific aspects of their work. Through open communication and active co-operation, everyone is invited to contribute to improvements enhancing Company results and personal development. Therefore, we can conclude that the models that Nestle follows are: – High Performance, – High Involvement & – High Commitment. NESTLE’S SPIRIT â€Å"Making Big Investments in People† At Nestle India we make big investment in people, they are our top priority. For us, our people are the key drivers for our success. Nestle India provides its employees a dynamic professional environment bound by one spirit,’ The Nestle Spirit' and that makes Nestle India a great place to work. Nestle India is a vibrant company enhancing the quality of life of its consumers by offering them world class food products driven by Nutrition, Health and Wellness. At Nestle India your integrity, professional skills and performance is what matters. We trust our people and believe in giving early responsibilities and encourage them to actively contribute to the log term sustainable growth of the business. At Nestle India we believe in building leaders who can take on challenges, innovate and write success stories. Nurturing starts from day one on the job. Business dynamics and need directed training programs offer employees with opportunities to acquire and develop desired functional, people management and decision making skills enabling success at work. 9 As we achieve milestone after milestones we invite you to be part of this exciting journey and assure you that the exposure and experience would be unparalleled. NESTLE’S CORPORATE LEVEL STRATEGIES †¢ Product’s growth through innovation and renovation (while maintaining a balance in geographic activities and product lines). Long-term potential Build business based on sound human values and principles. Long-term commitment to the health and well being of people in every country in the scope of their operations. Business should be conducted by adhering to the values and management principles of the organization. †¢ †¢ †¢ †¢ BUSINESS LEVEL STRATEGIES †¢ Low cost – less price transparency is followed. Differentiation – to reduce the risk of complexity of supply chain and lower attractiveness for discounters. †¢ COMPETITIVE ADVANTAGE †¢ †¢ †¢ †¢ Research and development (R&D), Its product range Global reach and 280,000-strong workforce FOUR GROWTH PLATFORMS †¢ †¢ †¢ Nutrition Emerging consumers Premium goods and 10 †¢ â€Å"Out-of-home† goods. ALIGNMENT OF BUSINESS STRATEGIES AND HR PRACTICES Nestle is a company whose HR strategies or practices are developed by keeping in mind the Business objectives of the company and the strategies devised to run the business. The HR strategies are always in alignment with the business goals. Nestle is unique in the sense that it has been able to successfully inculcate its business objective as well as its core values, consistently in its employees day-to-day activities starting from recruitment till continuous performance appraisals. Product’s Growth through innovation and renovation To increase the product growth i. . productivity human resource strategies are adopted such as flexible, dynamic employees are attracted, selected and then trained and motivated to be more productive than the competition. One case in point is the Kit Kat manufacturing plant in York England, under the managership of Ian Jobson and, ultimately, Nestle CEO Peter Brabeck. In 1998, Time magazine reports, it took 38 man-hours to produce a ton of chocolate. This year, using a combination of robotics, automated packaging, and production-line improvements, the forecast production time is 23 hours. This decrease in production time was feasible because of process innovation. Adherence to the values and management principles of the organization †¢ Respect for other cultures and traditions Nestle embraces cultural and social diversity and does not discriminate on the basis of origin, nationality, religion, race, gender or age. Furthermore, Nestle believes that its activities can only be of long-term benefit to the Company if they are at the same time beneficial to the local community. In short, global thinking and strategies can best be expressed through local action and commitment. Diversity From creating hundreds of the world’s leading brands to offering an amazing variety of career options to our employees, it’s clear that Nestle’s businesses are exceptionally diverse. So it should come as no surprise that Nestle values diversity in the people working them just as much as they have diversity in their products. 11 It’s Nestle’s policy to p rovide an environment where respect is shown to all individual employees and where employees are valued, recognised and rewarded on the basis of their talent and their contribution rather than any consideration of age, gender, race, sexuality, religion or disability. As an organisation, Nestle is opposed to any form of unfair discrimination and believe that an inclusive approach will be of maximum benefit to all our employees as well as our wider business goals and the society in which we live. This ethos can be summed up in the following statement: We believe that to succeed we must recruit and retain talented individuals and value and respect the differences each of those individuals brings with them. In addition, we have a strong ongoing commitment to developing policies, procedures and practices that will actively promote equality of opportunity and optimise the abilities of our workforce. Decisions relating to the recruitment, employment, training, progression, assessment and retention of our people will always be supported by these principles of equality of opportunity. †¢ Nestle’s Culture Nestle is committed to a number of cultural values. These values come partly from its Swiss roots and have been developed during its history. They are also evolving so as to support the permanent reshaping of the Company. They can be described as follows: o Commitment to a strong work ethic, integrity, honesty and quality. o Personal relations based on trust and mutual respect. This implies a sociable attitude towards others, combined with an ability to communicate openly and frankly. o A personalized and direct way of dealing with each other. This implies a high level of tolerance for other ideas and opinions, as well as a relentless commitment to co-operate proactively with others. Openness and curiosity for dynamic and future trends in technology, changes in consumer habits, new business ideas and opportunities, while maintaining respect for basic human values, attitudes and behavior. o Like, open and flexible culture is ensured by way of providing training programs to employees at all the levels. 2 TRAINING From the factory floor to the top management, training at Nestle is continuous. And because it is mainly given by Nestle people, it is always relevant to the professional life. Throughout the world, each country runs its own training programmes (e-Learning, classroom courses, and external courses). Nestle provides the followingo Literacy training-to upgrades essential literacy skills, especially for workers who operate new equipment. o Nestle Apprenticeship Programmes. o Local Training Programmes-on issues ranging from technical, leadership, and communication and business economics. This kind of culture is also supported by decentralized structure of Nestle: Nestle is as decentralized as possible, within the framework imposed by fundamental policy and strategy decisions requiring increasing flexibility. Operational efficiencies, as well as the group-wide need for alignment and people development, may also set limits to decentralization. Decentralization: Nestle recognizes that its consumers have a sincere and legitimate interest in the behaviour, beliefs and actions of the Company behind brands in which they place their trust and that without its consumers the Company would not exist. Nestle believes that, as a general rule, legislation is the most effective safeguard of responsible conduct, although in certain areas, additional guidance to staff in the form of voluntary business principles is beneficial in order to ensure that the highest standards are met throughout the organization. o Nestle is conscious of the fact that the success of a corporation is a refl ection of the professionalism, conduct and the responsible attitude of its management and employees. Therefore recruitment of the right people and ongoing training and development are crucial. Nestle continues to maintain its commitment to follow and respect all applicable local laws in each of its Transparent performance appraisal systems and the freedom given to them to question their seniors benefit not only the employees but even the organization as a whole. 13 PERFORMANCE MANAGEMENT o Formal assessment by Line Managers and HR once in a year with feedback. o Subordinate can question an unfair evaluation. o Specific Key Performance Indicators have been enlisted by the HR department. o One of the important key performance indicators is achievement following the Nestle management and leadership principles. Remuneration structure and promotion criteria take into account individual performance. Emphasis on individual achievement Nestle’s emphasis on individual achievement is e vident from the kind of pay structure HR has designed for its employees and the company also incorporates practices like Job Enrichment and Job Enlargement, to motivate employees and to break the monotony of their job tasks. The correspondent herself works in both sales and brand management departments, which is an example of job enlargement. PAY STRUCTURE o Nestle strives to offer fair remuneration. Remuneration level is above the average in industry. The variable component of the salary is comparatively big to reward individual performance. In case of higher management level, the variable part is linked to individual & team target achievements. o o Nestle expertises in Recruitment Services, Talent Management and International HR, Learning and Development, Information and Administration, and Reward and Employee Relations. Nestle is recognized as recognized one of the most advanced HR functions within Nestle globally. Before implementing the HR practices/policies, Nestle get to the crux of the business issue and then find an HR solution. While practicing the HR policies, Nestle is focused more on people and organization strategies. RECRUITMENT SERVICES The Recruitment Services team in Nestle UK is recognized within Nestle globally as the benchmark in leading recruitment practices. That’s because at Nestle they don’t just fill jobs. 14 Instead, they work with the business to proactively identify and fill their talent gaps. Nestle Recruitment teams constantly stand back and work out new ways to attract the very best talent and keep ahead of the competition, but it isn’t always easy. The recruitment process at Nestle is clearly defined and is always in synchronization with the changing business needs. o People with qualities like dynamism, realism, pragmatism, hard work, honesty and trustworthiness are looked for. o Match between candidate’s values & company’s culture are recruited. o Recruitment for management levels take place in the head office by top management and all others at the branch level. The existing employees are promoted to higher posts as per the requirements. There are no lateral recruitments. Another source of recruitment is campus placements and human resource consultancies to look for the enthusiastic, motivated and fresh pool of talent. Decision to hire a candidate is finally taken by HR professionals only and no preference is given to external consultant. This is done to finally have the discretion power in the hands of Company. o People management policies, basic values & principles as elaborated in- Nestle management & leadership principles- The Nestle Management and Leadership Principles describe the management style and the corporate values of the Nestle Group, specifically in the area of interpersonal relations. Nestle human resources policy- This policy encompasses those guidelines which constitute a sound basis for efficient and effective HR Management in the Nestle Group around the world. – Nestle people development review-this policy throws light on Nestle’s culture and core values, different training programs and life of employees after work. R EWARDS AND EMPLOYEE RELATIONS TEAM It consists of two expert sub-teams, each with specific responsibility for business-wide strategic and operational remits. Employee Relations sub-team provide business-wide advice and guidance to line managers and the HR community on individual employee relations matters and to HR Business 15 Partners on broader employee relations and change management issues, as well as developing and implementing Nestle’s policies and procedures in this area and undertaking relevant project work. EMPLOYEE RELATIONS Nestle provides a very healthy working environment which is one of the reasons why Nestle’s employees state their commitment level to be very high. o Employee turnover is less than 5%. , which is considered to be very low for a multinational corporation. Nestle has an open culture & upward communication especially in case of grievance redressal is encouraged. o Work/Life balance is given importance, as illustrated in the Nestle Human Resource Policy document. o ‘Nestle Family’ annual events are organized by their HR department whereby employees along with their families are invited . o Emphasis is laid on safety of employees (Nestle Policy on Health and Safety at Work). CHANGE MANAGEMENT o Nestle has adjusted to the ever-changing external environment for the last 140 years since its inception 1866 without losing its fundamental beliefs and core values. It manages Change and drives sustainable profitable growth by following the policy of making gradual changes instead of making drastic and risky changes. o ERP implementation- In June 2000, Nestle SA signed a much publicized $200 million contract with SAP and additional $80 to install an ERP system for its global enterprise to help centralize a conglomerate that owns 200 operating companies and subsidiaries in 80 countries. While the ERP system was likely to have long-term benefits, the project touched the corporate structure and culture. The structure was decentralized, and it tried to centralize it. This was initially opposed by employees but with subsequent measures taken by the HR like training etc. , this has been successfully implemented. Reward sub-team; on the other hand focus on maximizing return on investment to deliver Reward that will motivate the employees to perform at the highest level as well as managing the overall Reward principles and processes including base salary, incentives and Flexible Reward. 16 REWARDS & INCENTIVES o ‘Passion to Win’ awards- These quarterly awards have been institutionalized to reward those who over-achieve their targets. Long-service Awards- To recognize employees who have been with the company for more than 30 years. o ‘Nestle Idea Award’- It was found from the correspondent that the company institutes Nestle Idea Award every quarter to recognize and award employees who come up with relevant and innovative ideas which have the potential of being implemented at Nestle. For all aspects of Reward Nestle apply the fundamental principles outlined below. Reward Principles †¢ Performance Driven – The level of your Reward is linked to your performance, hence the highest performers will see the greatest Reward. There is also a direct link between the performance of the business and the Reward we're able to offer Competitive – We benchmark all aspects of Reward to ensure we offer all our employees a competitive Reward package Inclusive – Our Reward programme is designed to reflect the valuable contribution which every employee makes, not just senior managers Flexible – We've made it our top priority to allow you to tailor the Reward you receive to your circumstances, whenever possible or practical †¢ †¢ †¢ BENEFITS The following benefits are provided to all employees, with no discrimination- Leave-Personal & Medical (fixed no. er year) – Children Education Assistance Scheme – Provident fund – Retirement Gratuity Scheme – Group Insurance & Accidental Insurance Scheme – Conveyance Reimbursements 17 – Residential Accommodation – Monthly health check-ups & free consultation for self & family etc. Talent Manageme nt and International HR Talent Management and International HR Team, on the other hand, focuses on developing the potential and careers of all the employees at Nestle, particularly those with high levels of performance and potential who are likely to be Nestle leaders of the future. The main task of this talent management program is to develop the framework and processes which will enable the company to identify and develop the potential of employees at Nestle. This program supports individuals with a clear career development plan to go on international assignments out of the respective locations such as Nestle’s international headquarters in Vevey, Switzerland, or to other Nestle markets around the globe. Learning and development Learning and Development Team is involved in development of cutting-edge interventions and supporting change through far-reaching development programmes such as our ‘Lead2Win’ programme. This team also helps the company to create and implement functional development programmes across the business, covering everything from manufacturing to supply chain. At Nestle Learning and Development means Continuous Improvement and Creativity and Innovation. Learning and Development is carried out by Continuous Improvement that leads directly on to Creativity and Innovation. This process generally involves two stages: i. A team of passionate and professional development experts is formed to create Core Skill Development Strategies that will enable continuous personal and professional growth across the business. After that, the strategies are tailored for each business area with the help of HR Business Partners and Business Directors. The next stage is to go online, where the trainees are able to take advantage of our vast learning and development intranet. This resource has been specifically designed to help trainees manage their own learning in an easy to use virtual environment. Once you're up and running there, you'll be able to focus on picking up new skills particular to your job and career ambitions with the help of our leadership development programmes, designed to create the leaders of tomorrow. i. Differentiation 18 Nestle follows differentiation strategy and to make it a success it has HR strategies aligned accordingly. To support the differentiation strategy, Nestle practices following HR strategies to support differentiation: †¢ †¢ †¢ †¢ †¢ They favour long term performance measures. Nestle does not favor short-term profit at the expense of successful lo ng-term business development. They believe in extensive trainings of their employees to keep the pace with changing environment and keep them updated with latest innovations At Nestle, equal and fair pay practices are followed. Nestle’s pay structure, rewards & incentives systems are also designed in such a way so as to promote creativity. Recruitment process is also totally based on hiring and recruitment of people who bring in new ideas. Broad career paths are provided to employees by a continuous process of career development and high employee participation prevails in the organization. 19 5. Impact of Recession on Nestle During this phase of recession, Nestle has faced a little bit of tribulations in terms of: †¢ †¢ Shipment growth: It has slowed down as shoppers switch from branded foods to retailers' private labels. The volume of goods sold: The volume of goods sold rose 2. 8 per cent in 2008, but, down from 4. 4 per cent in 2007, after Nestle relied on price increases to pass on higher raw-material costs. The whole onus of these two problems could not be bullied upon recession. Since the actual reason behind the second problem was increasing inflation. Even though it has been hurt by the weak dollar and tough competition in the United States. But, if we talk in general, then, Nestle has been labeled as a Recession proof company. Nestle, announced that they had a 69. 4percent profit in the year 2008. The year 2008 and the beginning of the year 2009 so far are considered as the worst recession the world is facing today. Each company around the world, no matter what they produce or what services they provide was having the greatest downfall on the sales and services. But even during the phase of recession, Nestle has a different story to tell. Nestle announced record breaking profit during the year 2008. The sales of Nestle products jumped up in huge numbers. †¢ †¢ †¢ †¢ †¢ The net profit of Nestle in year 2008 was 15billion US Dollars. Net income rose to 18 billion Swiss francs in 2008 from 10. 5 billion francs. The profit was 69. 4 percent jump from the last year Sales rose 2. 2 per cent last year to 109. 9 billion francs, and organic revenue increased 8. 3 per cent in 2008, the fourth year that Nestle beat its forecast. Further, Nestle expects to carry on seeing growth in earnings over 2009 despite the global recession, using its strong 2008 results as a springboard for growth. 20 †¢ †¢ Nestle has granted an investment of 300 crore in the Indian market in 2008 and is about to double its investment in 2009. The goal of Nestle further is o achieve organic growth of close to 5 per cent, and to improve the EBIT margin in constant currencies further. Nestle would be able to achieve this goal through company’s internal strength. Nestle, which makes Nescafe coffee, Maggi soup and KitKat chocolate bars, also raised its global outlook for the year and its forecast for 2008 organic growth – which is to say from existing businesses – to â€Å"about 8 percent† from a previous target of at least 7. 4 percent. Nestle shares rallied from a near two-year low, jumping 5. 4 per cent. Nestle will spend four billion francs buying back stock this year after purchasing 8. billion (Dh27. 16 billion) francs worth in 2008. Nestle also said it will increase its dividend for the year by 15 per cent to 1. 40 francs a shar e. †¢ †¢ †¢ †¢ Reasons behind the strong survival of Nestle even during the Recession Nestle amazingly survived the greatest and disastrous recession period of the world which gives the hope and message to many other companies. Some of the reasons have been pointed out that seems to have worked for Nestle to fight the recession: †¢ Innovation and â€Å"renovation of its brands and products† It seems to be a big driver in keeping Nestle afloat. In 2008 Nestle’s investment in research and development for food and beverages was up 15 per cent. Nestle survived recession because it was able to capitalise on â€Å"a wide variety of market conditions†, and that this gives it a competitive advantage. India is not in a downturn but probably a slowdown. The liquidity squeeze hasn’t affected the demand of consumer goods in the price range that Nestle sells. Therefore, Nestle was able to survive in India. The company survived recession and is now positioned for profitable growth both now and in the long term, because of its â€Å"defensive qualities as well as its strong growth credentials. If recession grips the world and despite the war in the Middle East, everyone will continue to need food. This means millions of people will continue to buy Nestle products, which include Nestle infant formula, Taster's Choice coffee and Stouffer frozen foods. †¢ †¢ †¢ †¢ 21 †¢ †¢ â€Å"The key t o Nestle’s short-term performance is the degree to which the markets want to be in a safe haven situation. â€Å"Beyond that, over the longer term, there is a pretty positive earnings story in Nestle. Nestle is able to ride out the recession easily than its rivals due to its comprehensive range of products and wide geographical reach. 6. Changing role or HR The importance of the human resource function has become evident especially with the onset of global competition. Not only do human resource managers have to think more strategically and in step with corporate planning managers, they have had to address real and hard issues about the impact of intense competition on employment stability. It is one thing to think with executives on how the human resource section can support corporate activities. It is another to actually implement cost-savings policies with regards employment. To guard against the downside of global competition, the human resource managers must be more proactive in recruiting and maintaining a responsive and efficient work force. Planning should start at the early stages so that organizations do not bloat needlessly. Human resource managers must be able to map out human resource strategies such that flexible, dynamic employees are attracted, selected and then trained and motivated to be more productive than the competition. Human resource managers are no longer administrators or simply implementers. They should be recognized as strategic partners. Only then can they function well to help top management especially in a climate of economic uncertainty. Although, Nestle being a Human Company itself possess many of the above mentioned qualities that are supposed to be present in the managers of today’s time. But, according to the changes in the business patterns, globalization, and diverse business of Nestle and rapidly changing ups and downs in the economy. There are certain factors on which the role of the HR at Nestle is changing. The HR managers at Nestle along with professional skills, practical experience and result focus must possess the following qualities: †¢ †¢ They should be capable to motivate and to develop people, addressing all those issues that allow others to progress in their work and to develop their capabilities. They should be able to inhibit curiosity and open-mindedness as well as a high level of interest in other cultures and life-styles. This also includes a commitment to continuous learning and improving, as well as to sharing knowledge and ideas freely with others. 22 †¢ It is responsibility of the HR professionals to create a climate of innovation and to think outside the box. This implies the right to make a mistake but also the readiness to correct it and to learn from it. HR professionals should now be able to inculcate the willingness to accept change and the ability to manage it. They should provide international experience and understanding of other cultures. This will prepare the employees to face the challenges in global markets. †¢ †¢ 7. VRIO and 5P’s Analysis VRIO ANALYSIS This VRIO framework is the foundation for internal analysis. In order to lead to a sustainable competitive advantage a resource or capability should be Valuable, Rare, Inimitable (including non-substitutable), and Organized. Valuable A resource is valuable if it helps the organization meet an external threat or exploit an opportunity. If a resource helps bring about any one of these four things then it is aluable: Efficiency, Innovation, Quality and Customer responsiveness. Valuable resources of Nestle are: †¢ †¢ Human Resources Brand Name †¢ Research & development processes Rare A resource is rare simply if it is not widely possessed by other competitors. Rare Resource of Nestle is their uniqueness in Infant food products. The processes they use and the ingredients they use are rare. Inimitable A resource is inimitable and non substi tutable if it is difficult for another firm to acquire it or a substitute something else in its place. This is probably the toughest criteria to examine because given enough time and money almost ANY resource can be imitated. Even patents only last 17 years and can be invented around in even less time. Therefore, one way to think about this is to compare how long you think it will take for competitors to imitate or 23 substitute something else for that resource and compare it to the useful life of the product. Inimitable resources of Nestle are: †¢ Corporate Culture †¢ Values followed at Nestle †¢ Reputation Organized A resource is organized if the firm is able to actually use it. Generally, organization is frequently neglected by strategy because it often deals with the inner workings of firm management. But generally, it rarely happens that firms are not organized to exploit their valuable resources. However, if you analysis does turn up a valuable, rare, and inimitable resource that the firm is not taking advantage of, then the resources of the firm are not said to be organized. 5P’s at Nestle Philosophy Nestle’s Philosophy on Code of Governance Nestle India Ltd. is a subsidiary of Nestle S. A. f Switzerland and over the years it has followed best practice of Corporate Governance and adhered to practices laid down by the Nestle Group. Nestle India’s business objective and that if its management and employees is to manufacture and market the Company’s products in such a way as to create value that can be sustained over the long term for consumers, shareholders, employees, business partners and the national economy. Nestle India is conscious of the fact that the success of a corporation is a reflection of the professionalism, conduct and ethical alues of its management and employees. In addition to compliance with regulatory requirements, Nestle India endeavors to ensure that highest standards of ethical and responsible conduct are met throughout the organization. The two most significant documents from the Nestle Group, which define the standard of behavior of Nestle India, are â€Å"Nestle Corporate Business Principles† and â€Å"Nestle Management and Leadership Principles†. Policy The Nestle policy is to hire staff with personal attitudes and professional skills enabling them to develop a long-term relationship with the Company. Therefore the potential for professional development is an essential standard for recruitment. 24 Each new member joining Nestle is to become a participant in developing a sustainable quality culture which implies a commitment to the organization and a sense for continuous improvement leaving no room for complacency. Therefore, and in view of the importance of these Nestle values, special attention will be paid to the matching between a candidate's values and the Company culture. Processes †¢ Administrative †¢ Training †¢ Recruiting †¢ Development †¢ Labor Relations †¢ Org Development †¢ Compensation and Internal Communication Programs Campus Recruitment Programs Internship Programs For graduate students, Nestle offer a summer internship in brand management for MBA students. Marketing Interns are challenged with leading integral aspects of our brands' marketing plans. This highly competitive program could also give you the opportunity to transition into a full-time position. Professional Development Programs Adequate training programs are developed at the level of each operating company capitalizing on the availability of local, regional or global resources of the Group. It is the responsibility of HR staff to assist the management in the elaboration of training programs. Following type of programs are conducted at Nestle: o Training programs enhancing the language skills of the employees. o Training programs aimed at developing and sharing best practices of the various management disciplines practiced in the Group. They also strive to strengthen corporate cohesion as well as to promote networking throughout the Group. o E-learning programs as a complement to or a substitute for formal training programs. Practices 25 The following HR practices take place at Nestle: †¢ Recruitment and Training Performance Management Rewards and Incentives Benefits Employee Relations Change Management Safety and Health The Nestle Operational Safety, Health and Risk-Management Strategy document illustrates that: – Nestle is dedicated to safe & healthy work environment. Regular safety assessments & audits take place by internal & external bodies. †¢ †¢ †¢ †¢ †¢ †¢ 8. Hr strategies that nestle should follow Nestle should practice following HR practices: i. Communication Strategy: Nestle should adopt an effective communication strategy because in today’s changing scenario and in a dynamic organization like Nestle employees should be educated and trained about the change s taking place in the organization. This can be done through open house meetings and bulletins etc. Effective Training and Development: Training and development forms an important part of the practices followed at Nestle. It is an integral part of the corporate strategies. Most of the training programs conducted at Nestle are conducted by In-house trainers, whereas for some specialized training programs external trainers should be called. And employees should also be given the opportunity to attend the training programs abroad so as to give them a feel of global markets. Entrepreneurship strategy: Every employee needs to be an independent entrepreneur, who can generate ideas and bring them to reality by using the existing resources and support of the organization to create innovative and creative products and services. ii. iii. 26 iv. Recruit purposefully – The anticipated global shortage of workers has not gone away: it has just been postponed. The reason? Baby boomers are choosing to work a little longer because their retirement savings have been deflated. Once the market comes back fully, you should expect a mass exodus as the boomers leave the workforce. Companies who make severe staffing cuts and don't keep their HR people connected to potential hires will be caught severely short staffed. Savvy companies have a great opportunity right now to hire talented people who have been down-sized by other organizations. Cut High HR operation costs Leverage real time information for HR decisions: This would enhance the decision making process. v. vi. 27