The War Of The Vietnam War Essay - 1824 Words

For a lack of a better word, The Vietnam War, one of the longest wars to be fought in the history of the United States, lasting between 1955 to 1973, also happened to be a war that would go on to single handedly tarnished the self-image of the United States. The war itself also had major effects on the American people as a whole, sparking what would become the infamous Anti-War Movement, a battlefield in itself that would put the American people and their government on opposite sides of the same question. The Anti-War Movement brought out a divide not seen since the Civil War, leaving lasting marks on wars and government outturns in the future to come. The Anti-War Movement itself, is often seen in two very different ways; those in favor of the war saw the movement as preventing the United States from winning the war, while those who were against the war to begin with see the Anti-War effort as preventing the United States from continuing a wasteful and unneeded conflict. The main ideal of the movement was never one that right-out caused change, it was always just a way to keep the other side of the story in front of the American public eye. If it wasn’t for the pestering questions being asked by the vast number of members included in the movement, the public might have accepted the â€Å"official† telling of events a lot longer than needed. The situation in Vietnam was a situation that grew and escalated quite slowly in the front-mind of the public eye that it was neverShow MoreRelatedThe War Of Vietnam And The Vietnam War1525 Words   |  7 PagesThe war in Vietnam is The United States and other capitalist bloc countries supported South Vietnam (Republic of Vietnam) against the support by the Soviet Union and other socialist bloc countries of North Vietnam (Democratic Republic of Vietnam) and the Vietcong of war. Which occurred during the Cold War of Vietnam (main battlefield), Laos, and Cambodia. This is the biggest and longtime war in American history during the 1960s (Best 2008). It is also the most significant war after World War IIRead MoreThe War Of The Vietnam War1475 Words   |  6 Pageson one such event, the Vietnam War, came from entertainment-based programs and the play Miss Saigon. Despite heavy coverage in such well-known comedic films as Forrest Gump and Good Morning Vietnam, the true events were anyth ing but a laugh for those involved. In spite of the relative recentness of the events in Vietnam, many of today’s youths know little about the topic. The events in Vietnam raise the ever-present question on the ethics of third party involvement in a war otherwise unrelated toRead MoreThe War Of The Vietnam War1729 Words   |  7 Pagesspread of communism all around the world. This is what lead to the gruesome war that lasted over a decade in Vietnam. A great deal of social changed happened all over the world, but particularly in America as the Vietnam War dragged on. As people became more aware of the atrocities going on in Southeast Asia, the endless domestic support turned into widespread explosive protest. During the first few years of the Vietnam conflict, Americans full heartedly supported the United States and its governmentRead MoreThe War Of The Vietnam War1379 Words   |  6 Pagestensions over the Vietnam war caused many americans to become divided on the actions taken by the government across seas. Americans questioned whether the government could be trusted. The feeling of betrayal and government secrecy created the â€Å"Credibility Gap,† in which many americans believed that the government no longer was for the people, but for anything else that would benefit the government. The Vietnam War exacerbated the gap between the pro-war traditionalists and anti-war liberals along withRead MoreThe War Of The Vietnam War1430 Words   |  6 Pagesended in 1989, the Vietnam war is still being fought, but on a different battlefield, one of public opinion. Some call this war an atrocity, a war the United States should never have joined. Others call it a crime, committed by the power hungry politicians of the U.S. Now that new information from both sides of the war has surfaced and the wounds of battle have had more time to heal there is yet another opinion emerging. The Vietnam War was in fact only one of many proxy wars fought under the umbrellaRead MoreThe War Of The Vietnam War1155 Words   |  5 PagesThe Vietnam War cost many Americans their lives in the 60s and 70s. Many were drafted into the war by choice and others selectively chosen to join to help America. The contributions made had a major impact on the American side of the Vietnam War. Though many contributions were made none stand out any more than others. It is sometimes said there is always a hero in the war who helped the victory. Wars, however, do not have war heroes because a hero is making an undeniable contribution to the war andRead MoreThe War Of The Vietnam War1592 Words   |  7 PagesThe Vietnam War was said to be one of the most significant wars in the twentieth century. This w ar took place from November 1, 1955 to April 30, 1975. It was at the time, the longest war in American history. Much of the conflict was centered in Vietnam, Laos, and Cambodia. During that time, approximately 58,219 US troops were killed in action. The reason America got involved in the Vietnam War was to stop the spread of communism in South East Asia and beyond. â€Å"America’s involvement in Vietnam derivedRead MoreThe War Of The Vietnam War1204 Words   |  5 Pagesus†¦ When that is the way you are, how do you conduct your life?† The Vietnam War killed over fifty eight thousand Americans and over 61% of the men killed were 21 years or younger. Most Americans are conflicted with the fact whether the Anti War Movement played a factor in prolonging the Vietnamese War. â€Å"In every story there are two sides and in between lies the truth.† Anonymous The United States become involved in Vietnam after the French withdrew when the Republican President Dwight EisenhowerRead MoreThe War Of The Vietnam War877 Words   |  4 PagesAnother big difference in this war was that the Vietnam War was had more disapproval and was more expressive within the American public, unlike the Korean War. The ANITWAR MOVEMENT started in the 1960s this group was never enacted until this era. There was not a group like this in Vietnam, but there were many groups that opposed the war. The main object of these revolts was the American military presence in Indochina. The ANITWAR MOVEMENT caused an influence not only socially, but also in the realmRead MoreThe War Of The Vietnam War1421 Words   |  6 PagesIn July and August of 1972, Jane Fonda made radio broadcasts from Hanoi that changed the way Americans thought of the Vietnam war and of her. To this day, many people view her as a traitor and criticise her actions in Vietnam; however, some people we re truly inspired by her words and what she had to say. Despite people s personal opinions, Fonda was a powerful speaker and knew how to convey her message to her audience. She tried to convince people that the American government and military were the

Personal Experience My Eyes Explode Open - 1808 Words

Personal Experience Paper My eyes explode open. The vehicle’s cabin is filled with a gray, dusty smoke. Something is wrong. What just happened? Muscle-memory kicks in. In combat situations, leadership and training, is essential to defining the life-saving steps for any situation. Be, Know, Do and the NCO Creed are the cornerstones for the successful noncommissioned officer. â€Å"The Day†, Baghdad, Iraq General David Petraeus was the Commanding General, Multi-National Force - Iraq (MNF-I). Petraeus was leading a military operations surge in Iraq. One of the goals was to counter Shia militia, especially in Baghdad. My team, Operational Detachment Alpha (ODA 5136), was tasked to target Shia militias in the Sadr City area of Baghdad.†¦show more content†¦Movement NCOIC seemed to be one of my permanent duties. Captain Benjamin Tiffner, the detachment commander, was to brief the Department of State on area key leaders and atmospherics. The Communications Sergeant, SSG Mike and Engineer Sergeant SSG Marshall were to exchange intelligence with federal and military intelligence agencies. The detachment Operations Sergeant, MSG Jeff and Weapons SGT Dave were to meet with the company Sergeant Major concerning logistics, food issue and upcoming operations. Human intelligence reported an increase in Shia militia movements and chatter about pot ential U.S. military operations. The Haifa Street, a notorious insurgent stronghold and historically a hotbed for attacks on U.S. Soldiers, in the At Taifiyah area was a concern. The Department of State and Iraqi intelligence issued concerns about the Sadr City area. Targeting convoys and preparations for counter attacks on the U.S. military dominated all discussions. Al Queda of Iraq was not discussed. We received double the standard issuance of food. Command was preparing for heavy operations. Our detachment was going to be the spearhead in Sadr City. Gather intelligence, target key militia leaders and conduct needed sniper missions in order to clear the way for the 101st Airborne’s sweep of Sadr City in the upcoming months. Everyone returned to the Operation Detachment Bravo (ODB, Special Forces company command).Show MoreRelatedAnalysis Of Beth Johnson s Bombs Bursting Into Air 817 Words   |  4 PagesGoshen College and Syracuse University. Her writing mainly fo cuses on encouraging readers to accomplish their personal goals as well as college texts such as Everyday Heroes (1996). Summary â€Å"Bombs bursting in air. They can blind us, like fireworks at the moment of explosion. If we close our eyes and turn away, all we see is the fiery image. But if we have the courage to keep our eyes open and welcoming, even bombs finally fade against the vastness of the starry sky â€Å"(15). â€Å"Bombs Bursting in Air†Read MoreThe Design and Uses of Jomon Pottery Essay838 Words   |  4 Pages It was amazing to experience the excitement of ceramics art at Los Angeles County Museum of Art and seeing the eyes of people who were staring at the ergonomically well designed Jomon pot that looked very difficult to design by hand. The size of the Jomon pottery was 22 inches in height and is nearly equivalent to a fish bucket and the shape of the Jomon was a wide cylinder that looked like it could store lots of amount of water and fish. The Jomon had a combination with varietyRead MoreEssay on Double-Consciousness in Audre Lorde’s Coal1641 Words   |  7 Pagesunder a veil. If the first word â€Å"I†, is taken and seen to mean â€Å"Eye†, the sentence becomes grammatically correct, as would be spoken by a literate white person(2068). Viewing the sentence in this fashion also reinforces the double-consciousness veil. From the perspe ctive of a white person, based on what meets the eye, they see her as a black woman, and all of the oppressive stereotypes that may accompany that image. To the outside â€Å"eye†, she is â€Å"the total black† (2068). Through the useRead MoreOf Mice And Men By John Steinbeck1093 Words   |  5 Pageseven more challenging. In John Steinbeck’s novella Of Mice and Men, George is burdened with the task of caring for and protecting Lennie. Eventually, by killing Lennie, George ends their relationship. When Lennie badgers George for ketchup, George explodes at him, shouting, â€Å"‘God a mighty, if I was alone I could live so easy. I could go get a job an work, an no trouble. No mess at all’...‘ An’ Whatta I got,’ George went on furiously. ‘I got you! You can t keep a job and you lose me ever jobRead MoreEssay on Edvard Munch1385 Words   |  6 Pagestimes in oils and twice in prints, slowly developing the technique that gave the final, intensely textured and dark painting. People . . . Most of my later works owe their existence to this picture. An example of his changed style is the 1912 painting, Galloping Horse. He never completed this project, and in 1930 he began to experience eye trouble. The paintings caused such shock that the show was shut down. In 1893, Munch painted Vampire, which creates a motif of vulgarity and deceptionRead MoreQuestions On Advanced Testing Combat1395 Words   |  6 Pagessome critical thinking skills to launch the sickest combo moves on the Tests.† As the code implies, fighting the Tests requires warriors to go on multiple Study Hunts to achieve next-level comprehension and attacking skills. However, sometimes this experience alone just does not cut it. Mamma Test might pull out a question with some flipped-flopped wording, or maybe leave some words out altogether. The warrior then must be able to think on his or her feet and counter the attack. Battles with Mamma TestsRead MoreThe Homecoming Game Against Florida International University Of North Carolina At Charlotte s Campus1384 Words   |  6 Pagesfamous sports: football. Playing a major role in American culture, football has become a lifestyle for many that involves tailgating, socializing, and friendly rivalries. Today, anyone can experience the thrill, heartaches and triumphs of football just by observing. UNC Charlotte provides a first-hand experience of this popular sport for the community, alumni, students, and staff. This past game was the homecoming game against Florida International University. Fans near and far came to the Jerry RichardsonRead MoreDebate, Suspicion and Controversy Created by College Admission Policies1275 Words   |  6 PagesThe Silence is Over College admission policies have caused tremendous controversy, debate and suspicion in the eyes of Americans today. Causing students to stress out even more and call into question the merit and validity of such policies. Because students feel certain admission policies are preventing their chances of admissions. The most controversial admission policy is affirmative action. Since whites and other non-minorities feel that this admission policy doesn’t benefit them, so they attackRead Morecharacter analysis: Reasons to be Pretty1723 Words   |  7 Pages Character Analysis- Stephanie M. Jones Physiology: 1. Sex: Female 2. Age: 25 3. Height Weight: 5†5 125lbs 4. Color of hair, eye, skin: Brunette/brown, brown eyes, light skin 5. Posture: Slightly hunched (at times), upright 6. Appearance: Pretty, but becomes insecure after her boyfriend says otherwise. Hard working cosmetologist working through her last half of school. Round face, medium size hands and fingers. 7. Defects: Birth mark on her right elbow, two dimples, dry skin at timesRead MoreNight, by Eliezer Wiesel Essay1060 Words   |  5 Pagesdie before his sons were killed† (Wiesel 7). This man, who no one apart from Moishe knows personally, offers his life before his sons’. This shows that he lives for his family, and he would be willing to die for them as well. In Elie’s own personal experience, his parents try to prepare and shield him. He remarks that his father â€Å"went down to the cellar and buried our savings† (11), while his mother â€Å"went on tending to the many chores in the house† (11), attempting to maintain everything as normal

A Framework for Marketing Management †Myassignmenthelp.com

Question: Describe about A Framework for Marketing Management. Answer: Carnival Cruise PLC operates in a business environment that is challenging and full of many risks. Competition within the sector is high with different giant companies operating similar businesses. However Carnival Cruise line has been performing greatly despite facing a few challenges within its line of business. Competitor Analysis Carnival faces major competition from Royal Caribbean, Disney and Norwegian Cruise line. All the three companies operate in the Cruise line with Disney Cruise having its own private island while Norwegian Cruise line runs free style cruising that allows customers freedom of choice. Further the company competes with other vocational alternatives in the same line. The company also competes with other service providers that operate in overlapping segments. To be able to meet competition Carnival Cruise needs to find a way of meeting the needs of the customers while offering better services that are cost friendly and can improve returns on investment (Wheelen Hunger, 2012). Strategic Recommendations The company needs to place itself strategically to be able to increase its customer base that will increase returns. Since other competitors also compete for passengers in Europe the need to establish diversified destinations in all other continents will be a strategic idea. The company needs to diversify the line of business to try and invest in other cruise related opportunities. Diversifying the business opportunities will mean the company spreads its risks that will enable the company survive during economic recessions (Kottler, 2003). Creation of Alternatives Creating business alternatives means investing in other business enterprises. The company makes purchases for travel agency services, advertising, fuel, food and hotel. Investing in some of this business lines will benefit the company by minimising purchase related costs. The company can also offer these services to other Cruise lines that compete with Carnival. Risk/Scenario Analysis The rise of terrorism and security issues were the biggest threat to the cruise line. These posse higher risks in business since customers are keen on their security. The company has to comply with international safety standards and security protocols to ensure that its services are safe. The frequent inspection of ships ensures that safety and health related risks are avoided. Carrying out regular inspections assures customer safety which improves customer trust. Recommendation Competition is healthy in any line of business, a SWOT analysis of the company and the application of Porters five forces reveals that the company needs to invest more in controlling the existing market so as to block new entrants. The application on information technology within the business operations will increase efficiency which will lead to customer satisfaction. Hendry (2000) states that embracing modern technology and business decision making tools and models will change the business operations that will increase efficiency and quality of service. Aggressive marketing of the business and the use of social media will open a customer interface where customers can book online and can make recommendations based on the services that they have experienced. Management Actions Management has to invest in modern business decision making tools and processes and ensure that employees are inclined to modern business management practises. Investment in information technology will entail a cost to the Cruise line and thus management has to effectively plan on how information technology will be fused into the business process (Figueira, Greco and Ehrgott, 2004). Since this will need resources and structural changes within the company, this means that management has to be prepared to adopt the structural changes that will be aligning the company with the new business processes. From competitor analysis and strategic recommendations proposed for Carnival airline, the need to adopt modern business tools and processes that can improve efficiency will enable the company face its competitors. Adopting information technology within the business environment links the business to its environment making it easy to gather market information and asses areas of weakness that need improvement. References Kotler Phillip (2003). A Framework for Marketing Management. 2nd ed., Upper Saddle River, N.J. Prentice Hall. Figueira J., Greco, S. and Ehrgott, M. (2004) Multiple Criteria Decision Analysis: State of the Art Surveys. New York Springer. Hendry, J. (2000). Strategic decision making, discourse and strategy as social practice. Journal of Management Studies, Vol 37, 955-977. Wheelen Thomas Hunger David (2012). Strategic Management and Business Policy, Toward Global Sustainability. New Jersey, Pearson.

Matrix Concept in Management

Introduction The matrix structure is a management technique which diverts from the conventional manner of managing talent in the workplace. Often, the concept is applied throughout the organization, but there are cases where only part of the organization can be managed in this manner (Ford, 1992, p. 1).Advertising We will write a custom essay sample on Matrix Concept in Management specifically for you for only $16.05 $11/page Learn More What is unique about the matrix concept is that, there are several reporting channels to the top management, as opposed to the conventional one channel of reporting. In the past, many organizations were known to dissect employee talent according to employee product association or functional levels. However, the matrix structure combines the two platforms to create a dual reporting system. The matrix technique therefore works by integrating cross-functional work teams in the sense that, employees now report to various sect ions of a company’s top managerial team (Kuprenas, 2003, p. 52). The entire concept of matrix management was derived from a diagrammatic form of organizational management where there is a grid of functions and product groups bound to be accomplished by selected employee groups (Samson and Daft, 2009). The matrix concept is normally adopted where there are sophisticated products to be developed and the input of various departments ought to be incorporated to make the project a success. However, there have been increased concerns among managerial circles that, the matrix concept creates more problems than it can solve. This concern is registered because from the dual reporting system which the matrix structure incorporates, organizational design is complicated. This study focuses on the matrix structure as the first part of the study and in the second part of the study, an analysis of the concept of teamwork will be made. An analysis of the matrix structure will be done to esta blish why the matrix concept is weak in applicability and in the second part of the study; this study explains why most managers today adopt the concept of teamworkAdvertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Applicability of the Matrix Concept Though the matrix structure has been advanced as a formalized way of making the organizational design process efficient, it also creates new problems for organizations which adopt the concept. In this regard, the matrix concept exposes a lot of weaknesses in its application, such that, it sometimes beats the sense of adopting it in the first place. The dual reporting structure of the matrix concept is the major element of crisis for the concept because it exposes organizations to a lot of problems regarding the applicability of the concept. For instance, the dual reporting system envisioned in the concept is very costly for organizations to imple ment and therefore this affects the productivity of the concept (Clegg, Kornberger and Pitsis, 2005). More importantly, this problem is severe for organizations which are just starting up because they may lack the funds to bounce back into operations once they suffer severe operational losses. Through the dual reporting structure, the matrix concept creates a complex reporting system which causes a lot of confusion in the organization regarding which individual or department employees should report to. The chain of command is therefore distorted with the adoption of the matrix structure and chances of role ambiguity surfacing is high (Gottlieb, 2007, p. 2). This situation is likely to brew more conflict for organizations and especially individuals who hold high positions. This conflict is observed in form of interpersonal conflict because the matrix structure pits two individuals against one other (because employees report to both of them). Chances of superiority battles occurring i s therefore high and employees may find themselves caught up in the middle of the standoff since they may find themselves in a position where they have to pledge loyalty to a certain individual. For instance, a project manager may tell an employee to do one thing but another manager in a different department may tell the employee to do another thing which contravenes the first instruction.Advertising We will write a custom essay sample on Matrix Concept in Management specifically for you for only $16.05 $11/page Learn More This situation may corrode employee cohesion and reduces the synergy needed in completing given projects. It is therefore no surprise that, companies which have shifted their organizational designs from the conventional form to the matrix form experience high employee turnover as a result (Kuprenas, 2003, p. 53). The shortcomings of the matrix structure have also been practically evidenced in the United States (US) (in 1961-1978) when a quarter of the hospitals shifted their organizational designs to the matrix structure and later abandoned it after citing operational problems. At this point, several research studies were done to analyze why the concept was failing and it was discovered that, the matrix concept was more suited for larger organizations as opposed to smaller ones (Willmott, 2010, p. 114). However, this turned out not to be the case because subsequent studies done in General Motors (which is a large organization) revealed that, the concept was still not applicable because it was affirmed that, managers lost control of their departments, thereby decreasing productivity and efficiency. Teamwork Organizations have in the recent past greatly utilized the concept of teamwork in organizational processes. Teams are independent groups of people who work towards the achievement of a given organizational goal. The trend has picked up in the recent past because recent research findings show that, teamwork is an efficient way of getting organizational objectives done within a short time (Parker, 2008, p. 183). The efficiency of teamwork has motivated more managers to nurture the concept because researchers who have past experiences in the use of the concept, acknowledge that, decisions are easily made in this regard and undertaking simple processes like encouraging employees to be more productive can significantly lead to a lot of improvements in the production process.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Some companies also use teams because it is a simple way of controlling the behaviors of employees. For instance, when employees work in teams, they feel obligated to ensure the success of the team at all costs and many would often not want to be singled out as the derailing cause in a given team. For instance, if an employee falls sick, chances are that, he or she will struggle to come to work so that, he or she is not identified as the weak link in the team. This observation is a form of positive peer influence in the sense that, positive energies from team members are likely to spread to other team members as well. The uptake of the concept of teamwork among organizations is also motivated by the fact that, with team working, the organization can be able to integrate different talents towards the success of a given project. For instance, not every employee possesses the same skill or talent and therefore, it is only wise to integrate the different talents of team member towards t he realization of a given organizational goal. This fact is closely similar to the concept of building synergy because teamwork easily leads to the success of the concept. Synergy appreciates the fact that, two talents are better than one and the integration of different employee talent is more productive than if employees were to work individually (Parker, 2008, p. 183). This concept also changes the management’s view of the organization because employees are now perceived as part of an entire segment of an organization as opposed to individual people. Teamwork therefore helps to build synergy in this manner and managers appreciate its productivity as a result. For instance, an airport controller would find his job very difficult if he were not to embrace the concept of teamwork because controlling different airline companies to offer maximum service satisfaction to hundreds of customers is not an easy thing. For example: coordinating the checking of luggage; passenger aligh ting; cabin cleaning; replenishment of foods, drinks and snacks; airplane fuel refilling; luggage unloading and similar activities are tedious tasks. The adoption of the concept of teamwork is therefore useful in helping such an individual effectively handle such a hustle because through the adoption of teamwork, the airport controller will be able to speed up all the processes, say, if he adds two or more people in the luggage checking department as opposed to only four people, or if he adds more flight attendants to communicate with the pilot in times of landing or take off. Conclusion In light of the weaknesses of the matrix approach, many organizations have changed their perception (especially held in the 70s) that, the matrix structure is an antidote for all organizational design problems because the breadth of its potential for applicability significantly reduced as a result. However, the notion that, the matrix structure is appropriate for large organizations exists because i t is believed that, large organizations operating in a fast-paced business environment may benefit more from the organizational design strategy than companies which do not share the same nature. In the same regard, it is correct to say that, a coal mining company is not likely to benefit from the concept (matrix) as opposed to a company dealing in pharmaceutical products. Also, companies which do not heavily rely on the services of professionals or semi-professionals are likely to fail to benefit from the concept because the technique is best applied when an organization relies on the services of professionals such as engineers, surveyors and the likes. The matrix technique is also only applicable in an organization which has a diverse set of professionals who have various skills and in organizations which have nurtured employee behavior such that, the interpersonal skill level is high. However, getting organizations which have attained this level of employee cohesion is normally di fficult. Also, for the concept to effectively works, there needs to be sufficient authority given to project managers who work under the authority of the functional and product managers to make important decisions regarding the course various projects have to take. Considering these dynamics of the matrix concept, the matrix technique is applied best as part of a large inclusive strategy of organizational design, but it should not be left alone to stand as the only unique organizational design strategy. With regards to the teamwork concept applied by many organizations today, organizational managers have discovered that, it is easier to foster collaboration and cohesion in the organization through teamwork so that, tasks can be effectively completed in the organization. Managers also aim to improve their employee’s problem solving skills in the organization because working in teams is also strenuous and employees are bound to disagree with one another regarding various issues . The team environment however encourages them to solve their disputes and iron out their differences. This improves their problem solving skills. Moreover, the team environment encourages employees to come up with creative ideas which they can brainstorm among themselves and ultimately, the organization will be the one to benefit because such creative ideas are likely to be of benefit to them. References Clegg, S., Kornberger, M., Pitsis, T. (2005). Managing and Organizations: An  Introduction to Theory and Practice. London: Sage. Ford, R. (1992). Cross-Functional Structures: A Review and Integration of Matrix  Organization and Project Management. Journal of Management, 6, 1-22. Gottlieb, M. (2007). The Matrix Organization Reloaded: Adventures in Team And  Project Management. London: Greenwood Publishing Group. Kuprenas, J. (2003). Implementation and Performance of a Matrix Organization  Structure. International Journal of Project Management, 21, 50-62. Parker, G. (2008). Team Players and Team Work: New Strategies for Developing  Successful Collaboration. London: John Wiley and Sons. Samson, D., Daft, R. (2009). Management Third Asia Pacific Edition. Australia:  Cengage Learning. Willmott, H. (2010). Organization Theory and Design. London: Cengage Learning. This essay on Matrix Concept in Management was written and submitted by user Autumn Wood to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Company Valuation Essay Example

Company Valuation Essay In this papers, we describe generally the four main groups comprising the most widely used company valuation methods: balance sheets-based methods, income statements – based methods, mixed methods, and cash flow discounting – based methods. Then we present a real – life example to illustrate the valuation of a company – Biotechnology S. A in different methods. We conclude the paper with some recommendation on valuate Biotechnology. 2. Valuation methods For anyone involved in the field of corporate finance, understanding the mechanisms of company valuation is an indispensable requisite. This is not only because of the importance of valuation in acquisitions and mergers but also because the process of valuing the company and its business units helps identify source of economic value creation and destruction within the company. The methods for valuing companies can be classified in six groups: MAIN VALUATION METHODS BALANCE INCOME MIXED CASH FLOW VALUE OPTIONS SHEET STATEMENT (GOODWILL) DISCOUNTING CREATION . Book value . Multiples Classic Equity cash flow EVA Black and . Adjusted . PER Union of Dividends Economic Scholes . We will write a custom essay sample on Company Valuation specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Company Valuation specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Company Valuation specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Sales Free cash flow Investment value European profit . Liquidation . P/E EBITDA Accounting Capital cash flow Cash value option value . Other Experts APV added Expand . Substantial multiples Abbreviated CFROI the project value income Delay the others investment Alternative uses 2. 1 Balance sheets – Based methods (shareholders’Equity) These methods seek to determine the company’s value by estimating the value of its assets. These are traditionally used methods that consider that a company’s value lies basically in its balance sheet. They determine the value from a static viewpoint, which, therefore, does not take into account the company’s possible future evolution or money’s temporary value. Neither do they take into account other factors that also affect the value such as: the industry’s current situation, human resources or organization problems, contracts, etc. that do not appear in the accounting statements. Some of these methods are the following: Book value, adjusted book value, liquidation value, and substantial value 2. Income Statement – Based methods Unlike the balance sheet- based methods, these methods are based on the company’s income statement. They seek to determine the company’s value through the size of its earnings, sales or other indicators. Thus, for example, it is a common practice to perform quick valuations of cement companies by multiplying their annual production capacity in metric tons by a ration (multiple). It is also common to value car park ing companies by multiplying annual premiums Assignment: Company Valuation Case Study: BioTechnology Student: Tran Ngoc Minh – MEBF 5th y a multiple. This category includes the methods based on the PER: according to this method, the share’s price is a multiple of the earnings. Value of earnings. PER: According to this method, the equity’s value obtained by multiplying the annual net income by a ratio called PER (price earning ratio), that is: Equity value= PER x earnings Value of the dividends: Dividends are the part of the earnings effectively paid out to the shareholder and, in most cases, are the only regular flow received by shareholders. According to this method, a share’s value is the net present value of the dividends that we expect to obtain from it. In the perpetuity case, that is, a company form which we expect constant dividends every year, this value can be expressed as follow: Equity value=DPS/Ke Where: DPS – dividend per share distributed by the company in the last year Ke- required return to equity If, on the other hand, the dividend is expected to grow indefinitely at a constant annual rate g, the above formula become the following: Equity value =DPS/(ke-g) Where: DPS is the dividends per share for the next year. Sale multiplies: This valuation method, which is used in some industries with a certain frequency, consists of calculating a company’s value by multiplying its sales by a number. Price/sales=(price/earnings) x (earnings/sales) 2. 3 Goodwill –Based methods Generally speaking, goodwill is the value that a company has above its book value or above the adjusted book value. Goodwill seeks to represent the value of the company’s intangible assets, which often do not appear on the balance sheet but which contribute an advantage with respect to other companies operating in the industry. 2. 4 Cash flow discounting – Based method These methods seek to determine the company’s value by estimating the cash flow it will generate in the future and discounting them at a discount rate matched to the flows’ risk. Cash flow discounting methods are based on the detailed, careful forecast, for each period, of each of the financial items related with the generation of the cash flows corresponding to the company’s operation, such as, for example, collection of sales, personnel, raw material,†¦ General method for cash flow discounting The different cash flow discounting –based methods start with the following expession: V= CF1 + CF2 + CF3+†¦+ CFn+VRn (1+k) (1+k)2 (1+k)3 (1+k)n Where: Cfi =cash flow generated by the company in the period i Vn = residual value of the company in the year n K =appopriate discount rate for the cash flows’ risk Assignment: Company Valuation Case Study: BioTechnology Student: Tran Ngoc Minh – MEBF 5th 3. Investment decision process applied for preparing the long term financial plan of Biotechnology S. A Investment Plan Debt table (use past contract) Depreciation Plan INVESTMENT PLAN PROJECTIONS Criteria to use Potential solutions Information on biotech shares Selection of a solution Income Statement (forecast) Financial needs Cash Flow Sale forecast Financial analysis (past data) . Liquidity/solvency . Debt capacity . Return for shareholders Valuation of biotech II. Background of Biotechnology S. A 1. Company porfile Year of establishment: 1990 Operation fields: Manufactures and sells instruments for the biotechnological industries Capital: 10 000 000EUR divided into 100 000shares with a face value 100 euro each. Owners: Mr. Vincent-current resident: 60% equivalent to 60 000 shares Other directors of the company: 10% equivalent to 10 000 shares Venture capital organization: 30% equivalent to 30 000 shares Market: France and other foreign countries (mainly in European countries) Customers: Large corporations: LAFARGE, LVMH, BSN†¦ Small industries Research laboratories. Assignment: Company Valuation Case Study: BioTechnology Student: Tran Ngoc Minh – MEBF 5th Long term Target: Maintenance of a growth rate of 20 to 30% (for the next 10 years) Development plan: Company will undertake geographical diversification: Europe market (in particular in Germany); American and South Asian Markets. 2. Financial figures and operation results Balance sheet ASSET 1998 1999 Cash 1,700 1,100 Receivables 9,600 13,850 Inventories 8,450 11,050 Other 1,000 1,200 Total current asset 20,750 27,200 Plantequip 31,952 42,602 Depreciation 3,452 8,852 Net fixed assets 28,500 33,750 Total asset 49,250 60,950 2000 LIABILITIES 2,900 Payables 16,250 Acrues expenses 14,500 St Bank loans 2,150 35,800 Total current liab. 0,032 LTMT loans 14,752 Equity 45,280 Retained earnings 81080 Liabilequity (in thousands of Euros) 1998 1999 2000 7000 9000 11500 2,400 4,850 5,250 2,850 4,600 3,330 12,250 18,450 20,080 9,000 13,500 27,500 10,000 10,000 10,000 18,000 19,000 23,500 49,250 60,950 81,080 Income Statement (in thousands of Euros) 1998 1999 2000 63,300 83,000 110,020 17,940 23,5 00 30,810 45,360 58,500 79,210 34,216 38,150 41,986 11,144 21,350 37,224 2,400 5,950 8,800 8,744 15,400 28,424 2,080 2,500 3,600 6,664 12,900 24,824 1,999 3,870 7,447 4,665 9,030 17,377 Sales COGS Gross margin General admin expenses Operation income bf depreciation Depreciation Operating income Interest expenses Income bf tax Incometax NI 3. SWOT analysis Strengths: †¢ Solid leadership; †¢ Diversified Customer Base, including some big names (Lafarge, LVMH, BSN); †¢ Weaknesses: Dominant shareholder, reluctance in having new shareholders; Assignment: Company Valuation Case Study: BioTechnology Student: Tran Ngoc Minh – MEBF 5th †¢ †¢ †¢ †¢ †¢ Export accounts for 30% of the total sales in 2000 and is moving fast; Company is in high growth situation and this situation will continue for the next 10 years; Company’s ability to increase production capacity without any difficulties; Steep growth in sales, production cost controlling efforts and ability; Financial supports from Banks. Opportunities: †¢ Preparedness of the company in capturing the market opportunities; Low inventory level; Dependent on banks for financial resources; Cash flow is not sufficient. †¢ †¢ †¢ Threads: †¢ †¢ †¢ †¢ †¢ †¢ High growth sector with very little competition at both local and international market; Expansion of existing exported market (European countries); New exported market (USA, some fast growing Asian Countries); Geographic diversification possibilities. †¢ Multinational companies are considering entering into the field; Technological risks due to rapid technological changes in the field of biotechnology; To maintain technological superiority, heavy investment is required. III. Biotechnology S. A valuation 1. Financial analysis using past data From the balance sheet and income statement of Biotech S. A, we draw out a general financial picture through the main financial figures as below: (in thousands of Euros) Year Capital Employed Fix assets Working capital Total Net Financial Debt Equity Total Operation Sale Progression Working capital in days of sale Trade Receivable in days of sale Inventory in days of sale Trade Payable in days of sale 1998 28,500 9,650 38,150 10,150 28,000 38,150 1999 33,750 12,250 46,000 17,000 29,000 46,000 31% 53 60 48 39 2000 45,280 16,150 61,430 27,930 33,500 61,430 33% 53 53 47 38 55 55 48 40 Assignment: Company Valuation Case Study: BioTechnology Student: Tran Ngoc Minh – MEBF 5th Capital Employed turnover 1. 66 1. 80 1. 79 Margins Gross margin 72% 70% 72% Operating margin 14% 19% 26% Net margin 7% 11% 16% Returns ROCE before taxes 23% 33% 46% effective taxe rate 23% 23% 23% ROCE after tax 18% 26% 36% ROE 17% 31% 52% Debt and Solvency Long + Med term debt/NI+ Dep 127% 90% 105% Gearing (debt/equity) 36% 59% 83% Interest expense/EBITDA 19% 12% 10% Long term + Med term debt/Equity 32% 47% 82% Liquidity Current ratio 1. 69 1. 47 1. 78 Quick ratio 0. 92 0. 81 0. 95 Cash ratio 0. 14 0. 06 0. 14 1. 1 General analysis The above figures shown out that the Biotech S. A is in quite good situation on business and its financial results. Almost of financial ratios are improving by the time with high percentage, bringing a big benefit for its shareholders. Despite growing competition on the market for biotechnology products, company’s sales have significantly increased by more than 30% over the periods. However, capital employed at the end of 1999 and 2000 are respectively 20% and 30% higher than previous year because the Capital Employed Turnover has slightly decreased from 1,80 in 1999 down to 1,79 in 2000. This is mainly due to the increase in fixed assets investment (+18% in 1999 and + 34% in 2000). Operating margin and net margin have significantly increased with the average growth rate is about 5% per year. Thanks to high growth rate of net margin, ROCE after tax and return on equity have grown impressively. This is really good performance in the context of managing return for shareholders. During three years (from 1998 to 2000) the company has successfully optimized leverage ratio (gearing). At the end of 2000 the gearing is 0,83 (instead of 0,59 a year before) so that shareholders benefit from a rather strong financial leverage with a return on equity as high as 51. 7% in 2000 and 31. 14% only in 1999. The level of debt may become a concern in the future. The liquidity ratios are acceptable, though not that strong. 1. 2 Specific analysis on the four key financial ratios †¢ Solvency problem †¢ Debt capacity †¢ Return for share holders Assignment: Company Valuation Case Study: BioTechnology Student: Tran Ngoc Minh – MEBF 5th †¢ 1. 2. 1 Cost of capita l in comparison to ROE Solvency problem Solvency ratio (A) = Interest expense EBITDA This ratio must be as low as possible to ensure the solvency of the company. Two limits reflect solvency situation of a company: If A40%, there will be more than 50% of solvency problem happens in the next 3 years. In Biotechnology case, solvency ratio is always less than 20% during the past three year. It is 19% on the year 1998, 12% on the year 1999, and 10% on the year 2000. This means such ratios are improving from year to year, the company are adjusting its solvency situation follow up in a good direction. Quick Ratio (B) = Cash + Account Receivable Account payable + Accrued expense + Bank loan This ratio represent the level of cash in out; if this ratio is equal to 1, that means the company have sufficient cash to run its business. In Biotechnology case, quick ratio is 92% on the year 1998, 80% on the year 1999, and 95% on the year 2000. These figures are nearly equal to 100% and remarkably increased between 1999 and 2000. Though it may leads to some shorten cash issue would happen but it is very good situation if the company continuously keeps at around this level. In practice, optimal of this ratio is 103-105%. For conclusion, solvency of Biotechnology S. A is in quite good situation. 1. 2. 2 Debt capacity In classic measure using capital structure of company: Debt Equity ratio (D/E) = Long term + Medium term debt Total Equity In theory, it is ideally for the company to have this ratio equal to 1, which they can be used up their resources and enjoy the fair interest borrowing rate. In Biotechnology case, debt equity ratio is 32% on the year 1998, 47% on the year 1999, and 82% on the year 2000. That means in 2000 the company almost used up their debt capacity, only 18% is left or equivalent to EUR6mio. This shows that debt capacity of company is not sufficient to finance for the investment plan. By cash flow approach, we can measure if the firm can pay the debt or not: Debt capacity = Long term + Medium term debt Cash flow Assignment: Company Valuation Case Study: BioTechnology Student: Tran Ngoc Minh – MEBF 5th In Biotechnology case, debt capacity in cash flow approach is 127% on the year 1998, 90% on the year 1999, and 105% on the year 2000. According to international practice, a company, which is in good debt payment ability, should reach the 4 years of cash flow in debt capacity. This means: in 2000: Debt capacity left = (26. 117*4-27. 500)=77. 208 million euro. In short, from the two approach ways of debt capacity, company do not have any problem in cash flow of payment, only needs to modify capital structure or debt equity ratio, debt capacity therefore will be improved. In addition, company should have look on return on investment to ensure that it is higher than cost of debt. Moreover, according to their investment plan, Biotechnology needs EUR55million in year 2001, whereas total equity (equity + retained earning) = EUR33mio and the company has already indebtedness of EUR27. 5mio. This raise the critical issue that Biotechnology need to structure their debt, base on their resources to have more flexibility in capital utility. 1. 2. 3 Return for shareholders Dividend policy: From the figures on Balance sheet and Income Statement, we have the dividend policy of the company during the past 3 years: (in thousand of euro) Years 1998 1999 2000 Net Income 4,665 9,030 17,377 Dividend 3,665 4,530 5,400 New Retain Earning 1,000 4,500 11,977 Retained earnings end of period 18,000 19,000 23,500 Total R. E in B/S 19,000 23,500 35,477 We see the dividend is increasing regularly during the past 3 years. It is quite good signal for the shareholders. Payout Ratio: Payout ratio = Dividend Net income 1998 3,665 4,665 79% 1999 4,530 9,030 50% 2000 5,400 17,377 31% Years Dividend Net income Pay out ratio Payout ratio is depended on dividend policy of the company, it has not fully reflected if company is creating value for shareholders or not. Thus, when payout ratio is declining as the above; shareholders must refer to other indicator – that is return on equity (ROE) in comparison to that ratio of market. Assignment: Company Valuation Case Study: BioTechnology Student: Tran Ngoc Minh – MEBF 5th Return on Equity or earning for shareholders: ROE = Net income Total Equity Years 1998 1999 2000 Net Income 4,665 9,030 17,377 Total equity 28,000 29,000 33,500 ROE 17% 31% 52% Although payout ratio is declining but return on equity is increasing (from 17-52%). It is understandable and justify that company has kept a certain amount of net income each year as retained earnings (retained earnings is increasing from 28-70%) and reinvest it for operations to obtain benefits. Thus, we can conclude that the company is increasing the value for shareholders. 1. 2. Cost of capital in comparison to ROE Using CAPM to calculate the cost of capital of the company, we have: k = Rf + Beta*{E(Rm)-Rf] Rf: Risk free rate E(Rm)-Rf: market risk premium Beta: volatility Currently (2000), E(Rm)-Rf=6%, with Rf=5,3%, E(Rm)=11,3% Rf is depended on payback period and maturity for 5 years, 10years, or 3 years. This case we choose 5 years. Years 1998 1999 2000 Rf 6. 7% 6. 1% 5. 3% Beta 1. 6 1. 6 1. 6 E(Rm)-Rf 4 . 6% 5. 2% 6. 0% K 14. 06% 14. 42% 14. 90% ROE 17% 31% 52% ROE is always higher than k in past 3 years; means investment return is enough to cover cost of capital. Seemingly, k is nearly unchanged during the years (around 15%), whereas ROE is increasing from 16% up to 52%, hence, shareholders could have been convinced by the good financial performance of the company. Moreover, Biotechnology can form a view of requesting shareholders to issue new shares. In summarize, taking the look at Balance sheet and income statement, it is showing that Biotechnology’s business is in good condition; cash solvency problem is quite good and company is creating value for the shareholders. However, taking further look on other ratio, we can find several hurdles, such as Debt/Equity ratio or problem on Debt capacity. Since Where: Assignment: Company Valuation Case Study: BioTechnology Student: Tran Ngoc Minh – MEBF 5th the company may have to keep investing to develop R D on fast growing markets, an increase in equity would be welcome. 2. Valuation Process 2. 1 Book value methods Equity Retained Earning New Retain Earning Total book value 2. 2 Market value through accounting 10,000 23,500 11,977 45,477 Market value = book value * market to book value ratio Average market to book value ratio of Biotechnology sector is 5. 3, we suppose that this ratio of Biotechnology is around this figure: 5. 3. Therefore, market value = 45,477*5. 3 = 241,028 2. Market value through PER Market value = PER * Net earnings Average PER ratio of Biotechnology sector is 12. 5, we suppose that this ratio of Biotechnology is around this figure: 12. 5. Therefore, market value = 12. 5*17. 377= 217,000 We may average the two market value to determine approximate value of the company as below: Market value of company= (241,028+217,000)/2=229,014 2. 4 Discounted cash flow method Estimate and calculation of company value Assignment: Company Valuation Case Study: BioTechnology Student: Tran Ngoc Minh – MEBF 5th Investment Plan 2001 1 4 13 14 15 8 1 55 2001 1 4 4 0. 2 42 16. 8 25. 2 16. 8 3. 36 25. 2 8. 5. 9 17. 86 2001 1 1. 00 0. 50 0. 50 0. 50 2. 50 2002 2 4 11 16 15 4 1 51 2002 2 4 8 0. 4 42 16. 8 25. 2 33. 6 6. 72 50. 4 16. 8 3. 5 27. 42 2002 2 1. 00 0. 50 0. 50 0. 50 5. 00 7. 50 2003 3 6 5 8 2 21 2003 3 8 0. 4 19 7. 6 11. 4 41. 2 8. 24 61. 8 20. 6 2. 4 31. 64 2003 3 1. 00 0. 50 0. 50 0. 50 5. 00 7. 50 2004 4 3 6 3 12 2004 4 8 0. 4 9 3. 6 5. 4 44. 8 8. 96 42 14 1. 8 25. 16 2004 4 1. 00 0. 50 0. 50 0. 50 2. 50 2005 5 2 6 3 11 2005 5 8 0. 4 8 3. 2 4. 8 48 9. 6 21. 6 7. 2 0. 3 17. 5 2005 5 1. 00 0. 50 0. 50 0. 50 2. 50 2005 5 227. 5 0. 20 22% 50. 05 17. 5 32. 55 9. 765 22. 785 11 29. 285 154. 248 total 8 35 35 50 12 10 150 Construction Equipment for RD center Equipment for new Prd unit Equipment for existing unit Equity participate Working capital total Depreciation plan Construction Cal Contruction Basis Depreciation (20 year) Equipment total Ordinary material equips (40%) Shopiticate Mat (60%) Cal basis prd Depr of Ordinary Mat(20%) Cal shophiticate Mat Depr of Shop Mats(1/3) Depr Past inv Total Depr Debt table LT MT Loan total 8 36 1. 8 120 48 72 48 36. 88 21. 6 MT Loan Total debt repay Sales plans Sales Growth Margin% Magin Depreciation Earning Before Taxes Taxes (30%) Net Earning Dividents Retain earning + depr Net Cash Flow Loan in 1996 Loan in 1997 Loan in 1998 Loan in 1999 Loan in 2000 Tenor Amt 10 10 10 5 10 5 10 5 3 10 Year 2001 2002 2003 2004 1 2 3 4 128. 2 141. 2 157. 95 189. 5 1. 00 0. 10 0. 12 0. 20 30% 26% 24% 22% 38. 46 36. 712 37. 908 41. 69 17. 86 27. 42 31. 64 25. 16 20. 6 9. 292 6. 268 16. 53 6. 18 2. 7876 1. 8804 4. 959 14. 42 6. 5044 4. 3876 11. 571 14 0 0 0 18. 28 33. 9244 36. 0276 36. 731 18. 28 52. 2044 88. 232 124. 963 Assignment: Company Valuation Case Study: BioTechnology Student: Tran Ngoc Minh – MEBF 5th Income Statement forecast Sales Margin on sales (hypothesis 1) EBITDA Depreciation EBIT Interest of LMD EBT Tax (28%) Net income Dividends Retained earnings 2001 128. 2 0. 3 38. 46 16. 96 21. 5 2. 63 18. 87 5. 28 13. 58 2 11. 58 2002 141. 2 0. 26 36. 712 28. 92 7. 79 2. 4 5. 39 1. 51 3. 88 3 0. 88 2003 157. 95 0. 24 37. 908 34. 24 3. 67 1. 85 1. 82 0. 51 1. 31 1. 31 2004 189. 5 0. 22 41. 69 28. 36 13. 33 1. 3 12. 03 3. 37 8. 66 8 0. 66 2005 227. 5 0. 22 50. 05 22. 2 27. 85 0. 75 27. 1 7. 59 19. 51 12 7. 51 Earnings before interest and tax (EBIT) Years Tax paid on EBIT (28%) Net income without debt + Depreciation increase in fixed asset increase in WC Free cash flow PV (15%) Value of operations 28% 5% 252. 48 2001 21. 5 6. 02 15. 48 16. 96 46 4. 29 -17. 85 -15. 52 2002 7. 79 2. 18 5. 61 28. 92 46 4. 72 -16. 19 -12. 24 2003 2004 3. 67 13. 33 1. 03 3. 73 2. 64 9. 6 34. 24 28. 36 19 9 5. 19 5. 71 12. 69 23. 25 8. 34 13. 2919 2005 27. 85 7. 8 20. 05 22. 2 8 6. 28 27. 97 13. 91 Free Cash Flow forecast Years OUTFLOWS (1) Debt repayment Investment INFLOWS (2) Net income Depreciation FINANCIAL NEEDS (2-1) Dividends New financial needs New cumulated fianancial needs 2001 2002 2003 2004 2005 57. 5 2. 5 55 30. 54 13. 58 16. 96 -26. 96 2 -28. 96 -28. 96 56. 83 5. 3 51 32. 8 3. 88 28. 92 -24. 03 3 -27. 03 -55. 98 26. 83 5. 83 21 35. 55 1. 31 34. 24 8. 72 0 8. 72 -47. 27 17. 83 5. 83 12 37. 02 8. 66 28. 36 19. 19 8 11. 19 -36. 08 13. 5 2. 5 11 41. 71 19. 51 22. 2 28. 21 12 16. 21 -19. 87 -55. 98 Total amount of financial needs is about 1/4 total value of the firm (V=220. 000 Assignment: Company Valuation Case Study: BioTechnology Student: Tran Ngoc Minh – MEBF 5th From the above estimation and calculation, we found that to implement the investment plan, Biotech has lack of financial needs with the amount of 55. 98 million. In this situation, Biotech can raise funds by issuing new shares or borrow money from the bank to finance its plan. We raise out 3 cases that biotech can take a consider to maximize its profitability for shareholders. 1. Issuing equity for existing shareholders Outstanding shares 100,000 Book value of company 45,477 Market value before new issuing 240,747 New issue shares(planed) 25,000 issue 1 new share for 4 old New issue price (planed) 2. 24 discount 7% Value of company after new issuing 296,721 Book value after issuing 101,451 Total debt 28,000 Total equity 77,559 36. 10% Debt/equity

Essay About Yourself

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Strength And Weaknesses Of Electronic Human Resource Commerce Essay In our report discusses about strength and weaknesses of electronic Human Resource and discusses some future implications. E-HRs software can helps to bring a high degree of standardization platform for smooth working in an organization. It allows the control and efficiency as required by HR. An initial framework and the review analyzes by HR professionals within the organization, that brings in a management information system (MIS), based on new Internet technology. This system allows the employees to be more efficiently in their administration (in theory) through an impersonal system to bring into conformity with rules for payroll, attendance and punctuality. Hence, e-HR software that, interface with in salary decisions and others linked to Human Resource issue. The e-HR systems are core applications which would helps to reduce the over time of Human Resource Management. It has achieved data from an administrative function, which responsible from payroll to help in strategic decisi on making that can add value to an organization. Companies have now realized. The role e-HR has developed as grow of organization the primarily administrative becomes business partner. At same time e-HR provide the business possess such as stable, reliable which makes high recognition within the organization. INTRODUCTION Human Resource Information System (HRIS) basically is a human resource database system that allows you to keep track of all kind of Human Resource information within the organization and its human capital. HRIS may or may not be part of an ERP implementation. Not all companies can afford an ERP, thus some organization, especially those small organization, may own a effective HRIS system, but not ERP. Human Resource Information System without ERP may not be comprehensive enough. For some instances, human Resource system may only able to handles one or two basic functions, example such as benefits like administration or payroll, then we do not consider it as a comprehensive HRIS. (Bondarouk Ruel, 2009) Due to market development, the manager roles has changed in recent years, and partly also due to new technologies being used by the organization that they are working in. As a result, organization needs to examine their own organizational Human Resource role. (Alleyne et al, 2007) In today global markets, organizations and companies recognize that in order to compete, they need to reply on the quality and effectiveness of the employees within their organization to succeed. Human Resource managers today need a world class Human Resource management system to help them in daily strategic and operational decision. Over the last decades, with the fast advancement of the technologies in Intranet and Internet, Human Resource tools known as electronic Human Resource management (HRM) emerged. (Hooi, 2009) Recent Development in E HR or HRIS Back in the old 1990s client/ server systems are the most ideal configuration for most companies. But in recent years, companies are beginning the tasks of trying to migrate, their old legacy systems to more advance structure packages. And they are usually what we know today as Human Resource Information System (HRIS), which is part of the Enterprise Resource Planning (ERP). ERP are able to offer companies the advantage in term of functionality, storage capacity, performance and an opportunity to reengineer their HR processes. Due to the fast rapid growth in the development of technologies and changes in the fundamental of business, the Human Resource Department today cannot operate like the old days. It is not enough to have a group of people who only need to know all about the benefits plans, salary program, and career opportunity within the organization. The demand for skilled workers, especially knowledge workers, also helps to accelerate the need for HRIS to assist in strategic role of HR. (Stone et el, 2006) DEFINITION E HRM According to a group of Researcher from Singapore Ministry of Manpower, Human Capital Development Division, E-HRM are known as a usage of electronic media and allow the participation of employees with technology to helps to save cost or lower administration costs, and improve the communication of their employee with quicker access to work related information, and reduce the time needed in processing. (Hooi, 2009) Electronic Human Resource (EHR) it refers to conducting business transaction in human resource related using the Internet. (LengnickHall Moritz 2003) Usually refer usually to Employee Management System that is normally refers to browser based Human Resource web portal. Unlike HRIS, E-HR or Employee Management System can usually handles limited functions or benefits, such as payroll and leave application. The growth of E-HR was due to the rapid development of Internet technologies in the 1990s. With point and click ease of use, E- HR are usually very user friendly and easy to use. Widely used by companys especially small and medium enterprise, who cant afford a comprehensive Human Resource System such as HRIS. Human Resource Management (HRM) it refers to a form of support function that services its own internal customers, example employee. (Alleyne et al, 2007) Critical Analysis of Electronic Human Resources (e-HR) In recent years, with the advancement or growth of intranet and Internet, enable a series of new human resource (HR) technology to emerge, with the aim to assist human resources daily administrative functions. With these e-HRM functions, HR service is expected to improve by both the management and employees. (Hooi, 2009) As more and more Human Resource Departments moving toward Internet or Web-based Technology, we need to evaluate and make comparison between the Online Human Resource Management and Traditional Human Resource Management System. (Payne et al, 2009) Strength of E-HR The major functional roles of E-HR are to support Human Resource processes such as are recruiting, training and performance management. (Stone el, 2006) Modern HR system or e-HR, which we commonly know today, allows their employees to control, accessing and updating their very own personal profile information or records. Allowing managers to make decision using the information and data, which they can access, to make analyses and decision without the need to go through Human Resource department. (Panayotopoulo et al, 2007) E-HR can bring impact and benefits on every area of HRM. The six key HR process that benefit from the effects of technology are: (Panayotopoulo et al, 2007) Planning Recruitment Evaluation (Employee performance appraisal) Communication Rewarding (Reward Employee) Development and training (Career management) The growing trend in E-HR allows the development of tools such as Employee Self- Service (ESS) Employee Self Service or ESS gives the employee of the organization the ability to access, maintaining his or her own personal HR Information online. The employee self-service (ESS) has the capabilities to allow and enable the end user employees of the organization, to create, view, and modify data anytime and anywhere all by themselves, using multiple technologies. Managerial Self-Service (MSS) Enable the managers of the organization to access a variety of HR-related tools and HR-related information online. Most managers can complete HR-related tasks via MSS applications example like payroll, daily administration, work jury compensation, staff performance appraisal management system, hiring, and employee job related training and career development. Overall, the main strength that an Electronic Human Resource System allows: Helps employees to improve or maintain their job performance Set proper standards for Human Resources work process Give recognition to job related accomplishments Enhance Communication and working relationship between employee and departments Identify the performance of individual employee Outline the responsibility of employee and supervisory. (Payne et el, 2009) Developing human resources: With the help of Internet and intranet in development and training, Human Resource Professional with the assistance of E-HR or HRIS, are able to play a much more active roles in human resource development. The return that comes along, are immeasurable, in term cost and benefits. Web-based application or software, usually part of the E-HR or HRIS, is often used today for in house assessment, job training and career management. For the less paperwork and more benefit including getting more information on training, and assessment it provide e-mail and electronic forms of intranet or the restricted web site. Changes in the role of the HR function: The adoption of e-HR has help to support in the daily Human Resources functions. It helps to make daily Human Resource administrative tasks much easier and more productive. Apart from the daily administrative processes, E-HR or HRIS are able to assist modern day Human Resource professional in other daily Human Resources work processes or tasks such as communication with employees within the organization, and career planning. With the implementation of e-HR, organization will be expecting a great improvement of the daily human resource activities with the supported and assistance of the e-HR. As the result, e-HR not only supports the traditional Human Resource role but also the helps the organizations in the planning of its strategic objectives. However, on the real, Return on investment (ROI) or benefits for investing on the Electronic Human Resource, it still has a long way to go before, we can see any actual results and benefits of e-HR adoption, especially, in term of the Human Re sources development, the real benefits will be tangible The benefits as show in fig: Weaknesses of E HR Limited usefulness These usually apply to companies that are very small in scale and do not have a lot of headcount within their organization Security Concerns Since every transaction is going to goes online, there will be security concern like unauthorized access, and virus. Inconsistency with practices used. The application or the design of the software does not fit into organization structure. Practical problems Companies might not have the necessary right infrastructure to support the application. And sometimes it is much easier and economical to do the manual way if the company or organization got very low number of headcount. Social Interaction Due to the reason that all the transaction goes online, they decrease the chance of social interaction. (Stone El, 2006) The pitfalls of moving to E HR are it is not always easy. The HR technology that does the processes, and the capability of the employee going to work on the system. And organization should not pay too much attention on technology, but instead focus how to prepare the employee for it. And of course, how can it really fit into the business. (Pollitt 2006) Example of companies implementing E HR Philips E-HRM offers Philips a chance to make their HR specialists to concentrate on the strategic aspect of their daily jobs. Senior Human Resource strengthen their claim for implementing E-HR, by declaring that their people are their most important asset. The employee at Philip also responds positively to e-HRM, which is easy to use and backed up by good IT support. (Phillips, 2008) KPN The new Human Resource system helps the organization to monitor various Human Resource program such as absence management, as well as training and development. The new system allows the manager to review the skills and competencies of their employee. (Pollitt 2006) Overview Nowadays, organization leverage on the capability of existing technology to run HR operations more efficiently. For more efficiently work we need to combined together in one hand for this gather the information and communication technology. The rapid fast development in the technology of the electronic HR systems, allows the modern Human Resources professional to work in a far more efficient and strategic roles. Is e-hr becoming more strategic? Most of us, I believe will be convinced that using E-HR will significantly help the company to improve the delivery of the HR services to the organization. Higher efficiencies, and higher customer satisfaction, no doubt will help to lower costs, due to redesigned processes and eliminate manual work process. Definitely e-hr has the potential to be able contribute towards HR becoming more strategic. But for E-HR to be able to play a more strategic role, there must be a strong business case. Emerging strategic e-HRM research tend to fit and focus on business strategy. (Marler, 2009) A business case can be mystifying. For the case of web-based or E-HR business can be used to address all types of questions, for example: Do we really need a Web-Based solution? Do we need to implement employee or manager self services? Can we use our existing intranet for HR transaction? Are we going to use the existing legacy human resource system as the underlying database for web solution, or an Enterprise Resource Planning (ERP) System? Can we plan and implement a shared services group as part of the Web initiative? Should we go for one-vendor HR portal strategy, or should we go with a best-of-breed approach? A business case must always, built around objectives like type of business, financial, functional, operational, or some combination. Meaning we need to provide the business management with cost benefit and return on investment data in hard economic terms. How can E-HR help the organization in strategic role? To business, the core objective is to make more money. The concern and questions ask by management is how E-HR can help the business to reduce expenses or increase in their revenue strategically? (Marler, 2009) Questions on the mind of the management like, what can we gain from: Productivity savings Improve quality and reduced rework Sourcing Saving Make services more cheaply and higher quality Information System Saving Reduce the maintenance of existing systems Other Saving. Save the cost of material like paper, computer printout. But the most important aspect and core functions of E-HR strategic benefits can bring to an organization are: Recruitment What talent do we need? Sourcing and attracting Who is the right talent? Where is the right talent? How to attract the talent to joins us. Assessment and evaluation Identify, evaluate and select the right people we want. Hire What is the right offer that we can offer attracts the candidate to join the organization? Deployment Move people into the right position in the organization that can utilize their talent. Retention- how can we keep the talent invested, and engaged in the organization? In todays globalization competition, the strong demand for skilled workers, especially knowledge workers, also helps to accelerate the need for HRIS to assist in strategic role of HR. (Stone et al 2006) Conclusion The HR plays a very important role in any Origination, as well as HR builds a bridge between top management and employers. Nowadays there is a big competitive market for any organization. So they want to expand their organization up to certain level to meet their requirements. Once the organization grows the workload for HR will increase and they will be unable to manage all the work manually. So for avoiding this kind of situation in the organization they need an integrated system in their company. That time e-HR comes in the picture, which suits their needs, Such as Employee Self- Service (ESS) Managerial Self-Service (MSS) Management Information system (MIS) Developing human resources Changes in the role of the HR function The future of E-HR will become more sophisticated, and more individualized tools for both managers and employees. Improved decision making tools will benefit both the organizations and employee. (LengnickHall Moritz 2003) After implementation e-HR in any organization, company can easily save there cost. Because e-HR use enterprise and Internet, efficiently connect people such a way if gives all information they need. It also manages relationship, streamlines processes and improves the se of information to make strategic and operational decisions. E-HR or HRIS is all about connecting people customers, suppliers, employees with information. Its about making organizations more efficient and more profitable Word Count: 2550

PepsiCo’s Restaurants Essay

In the case study, PepsiCo is considering in Carts of Colorado and/or California Pizza Kitchen. Senior Management is faced with the question of whether the necessary capital investment in order to purchase one or both of the businesses can be profitable for each of the acquired businesses, but must also take into consideration that the additional business units will not hinder the profitability PepsiCo itself. Would investing in other companies be the best way to expand PepsiCo? This question is important because it could affect the success of the company. By investing in a company PepsiCo started from Pepsi-Cola and then moved into a more diversified business with mainly soft drinks, snack foods and restaurants. In early 1990s, PepsiCo’s restaurant business is composed of Pizza Hut, Taco Bell and KFC, all of them are business leaders in their segment. 1By investing in C1a1r1t1s1 1o1f1 1C1o1l1o1r1a1d1o1, it1 1w1o1u1l1d1 1e1n1a1b1l1e1 1P1e1p1s1i1C1o1 1t1o1 1e1n1t1e1r1 1n1e1w1 1m1a1r1k1e1t1 1a1n1d1 1n1e1w1 1c1u1s1t1o1m1e1r1s1 1a1n1d1 1h1e1l1p1 1t1o1 1a1c1c1e1l1e1r1a1t1e1 1t1h1e1 1s1a1l1e1s1 1g1r1o1w1t1h1 1b1e1s1i1d1e1s1 1o1f1 1o1r1g1a1n1i1c1 1g1r1o1w1t1h. The Cart of Colorado’s (COC) industry is subject to strict government regulations and the uncertain demand for carts and kiosks, so the attractiveness to enter this industry is between low and medium. COC had succeeded in purchasing their largest competitor that generated sales of $2.5 million in 1990, which gives them potential to grow in the manufacturing and merchandising of mobile food carts and kiosks industry. PepsiCo will gain competitive advantage for its link with COC because it will be able to customize the carts and kiosk for its fast food chain; it is more aligned with PepsiCo’s current strategies of quick service. However, the tradeoff will be PepsiCo may focus on too many different strategies and product markets. Focusing on the same customer targets can minimize this tradeoff. It will be an advantage for PepsiCo should go and form a strategic alliance with COC. PepsiCo can use the carts to expand their KFC, Taco Bell, and Pizza Hut businesses. In my opinion, I think it would be in PepsiCo’s best interest to invest in the two companies because in this case they are both successful and would help boost PepsiCo sales.

Canadian cultural Essay

In her article â€Å"I Am Half-Canadian,† Pamela Swanigan seeks to define Canadian cultural identity by comparing and contrasting it to the often highly regarded identity attributed to Americans. Born in the USA to parents of mixed racial origin and later immigrating to Canada, Swanigan offers a unique view on many of the common fallacies that come up when one envisions the culture of the United States. Contrary to the popular view, that depicts the United States as an all-welcoming â€Å"melting pot† of cultures and races, Swanigan contests instead that American culture is one of constricting self-definition and pigeonholing. She argues that American culture is neither open nor accepting of diversity, instead forcing people to strictly classify themselves into certain racial and linguistic categories- â€Å"everyone’s forced to pick one definition and stick to it. † Having personally experienced this phenomenon, as a woman of mixed race working in a traditionally male field (sports writing), Swanigan is extremely influential in presenting her case, offering a number of examples as to how Americans are boxed in to certain classifications and social expectations. She further goes on to remark on the close-minded nature of such a view, which leads many Americans to be suspicious and vaguely threatening- a stance that directly contradicts the traditional view of the United States as an open and accepting country. Swanigan contrasts this with the relatively fluid and undistinguishable collective culture of Canada, where a lack of strict individual definition leads to the misconception that Canadians have no culture at all. Instead the author seeks to dispel this myth by suggesting that this lack of identification is in fact the ideal that America claims to promote, which its neighbor to the north that has achieved.

the life of charles dickens, a essays

the life of charles dickens, a essays As a member of one of the lower classes as a child Dickens had dreams of comfortable middle class life, and worked for this goal without forgetting where he came from. Dickens was the first mainstream writer to reach out to the semiliterate class. He did much to make sure his writings were available to the middle class. He published serial novels on monthly bases. One shilling (one twentieth of a pound) would buy you the next installment to your novel. In a time when novels were almost thirty times as much as one of these serial novels, it put reading within the reach of the middle class, thus highly popularizing Charles Dickens works. By the popularity of his work he was able to afford a humble middle class life, which was what he always desired. Charles Dickens, like most authors of fiction, included characters in his writings that reflect aspects of his own life. Dickens has certain staple characteristics that are included in the majority of his stories that are derived from Dic kens family, friends, and even himself. Charles Dickens was one of the literary geniuses of the 19th century. Charles Dickens did not begin his life as a humble middle class child. In fact it was quite the opposite. He was born in Portsmouth, England in 1812. He was the second child of John and Elizabeth Dickens. John Dickens was a clerk in the Navy pay office. In 1817 Charles got the first taste of the life he would so strongly desire later in his life. His family moved to Chatham, a small port town in England. Charles enjoyed all the comforts of a humble middle class life, fresh country air, decent schooling, and books to read on sunny afternoons. It was a short idyll, John Dickens money supply was lacking. He was recalled to London and forced to put his family of six in a small, smelly, bleak house in the ugly suburb of Camden town. Then in 1824 an event that shaped Charles Dickens views on the world occurred. His family increasingly in...

homosexuality essays

homosexuality essays In 20th century attitude toward gay community was very negative. However, in recent years gay and lesbians are gaining more rights. The biggest problem that homosexuals are facing right now is not being able to adopt a child. There are 22 states where they are allowed to adopt and it is seen there that they are adopting in increasing numbers. Ongoing legal battles over same-sex marriage have drawn increasing public attention to the question of whether lesbian and gay families can raise happy, healthy children. However, there is no evidence that persons sexual orientation will influence the child and make him a worst parent. In order to find out if homosexual couples could raise happy and healthy children, researchers presented a study of lesbian mothers and their children, as well as a comparison group of heterosexual couple and their children. The average age of the children at the time that the study was performed was about 9 years old. The follow up study was in 1990s and the average age of the young people at follow up was about 23 years old. This study was performed in order to see if children who grow up in a family led by a lesbian mother would have disadvantages in terms of their social, psychological and sexual orientation in comparison to children who were raised by heterosexual couple. It was found: 1. Children from lesbian mother families were no more likely than heterosexual families to experience peer pressure during adolescence, and most were able to integrate close friends outside their family life. They also were no more likely to recall being teased specifically about their mother. I think every child gets teased either he is tall or short, thin or fat. 2. Findings relating to the sexual orientation of children are generally that children from lesbian family were not more likely to identify themselves as homosexual or bisexual. 3. In regards to psychological adjustment men and women...

Commercial Law Essay Example | Topics and Well Written Essays - 750 words

Commercial Law - Essay Example Also, there was the complaint of distress that was caused on Epcot by Regus Ltd as they had to endure the unpleasantness associated with poor air conditioning. Regus was quick to react, and an exclusion clause that was presented by Regus claimed that Regus was not to be held responsible for any cases of losses that will be incurred while goods are in the custody of the same company. The clause further noted that losses of any kind; data, savings, profits, as well as, claims raised by third parties will not be incurred by Regus. As such, the clause mandated Epcot to ensure that goods are insured so that these losses will not be incurred by Regus. Under the UCTA Act of 1997, these claims were noted as void as Epcot argued for the exclusion clause noted by Regus to be struck out on the rationale that it did not pass the reasonableness test that is provided for in the Unfair Contract Terms (UCLA) Act.   The judge was guided by the fact that it was in Regus’ docket as per the con tractual agreement to provide proper air conditioning for Epcot. With this in mind, Regus was not in order to deprive Epcot of the payments that were to be extended for losses that were incurred. As such, it was not reasonable for Regus to claim for Epcot’s deprival to be remedied for all the losses. Regus was thus expected to be reasonable and cater partly for failure to be in a position to ensure protection from losses and distress that Epcot incurred. This clause was considered broad as it would mean that even stern breaches.... , these claims were noted as void as Epcot argued for the exclusion clause noted by Regus to be struck out on the rationale that it did not pass the reasonableness test that is provided for in the Unfair Contract Terms (UCLA) Act. The judge was guided by the fact that it was in Regus’ docket as per the contractual agreement to provide proper air conditioning for Epcot. With this in mind, Regus was not in order to deprive Epcot of the payments that were to be extended for losses that were incurred. As such, it was not reasonable for Regus to claim for Epcot’s deprival to be remedied for all the losses. Regus was thus expected to be reasonable and cater partly for failure to be in a position to ensure protection from losses and distress that Epcot incurred. The failure by Regus to provide proper air conditioning was questioned and Epcot was favored as the services as provided by the terms and conditions of the form contract were not met. An analysis of the exclusion claus e used by Regus would thus exclude the same company from any malicious or fraudulent cases that will result from their inability to provide satisfactory services. This clause was considered broad as it would mean that even stern breaches of the contract will not be remedied. The unreasonableness of the clause as provided for by the judge was challenged by the court of appeal. The court also challenged Epcot’s claim that Regus’ failure to provide proper air conditioning led to future loses that the company will incur. The appellate court noted that it would only be reasonable for Epcot to demand remedy for a decrease in the prices of the standards they expected from Regus. Liability remedy was earlier on not provided for by the exclusion clause according to the judge. However, this was not the

Interest Rates Rise in the UK Essay Example | Topics and Well Written Essays - 2250 words

Interest Rates Rise in the UK - Essay Example These effects caused by a low inflation, low interest, but highly tax economy are the outcomes that are a current and continuing to thwart economic competitiveness and equilibrium across the UK manufacturing base. This assignment therefore seeks to consider some of the reasons for the causes and effect of increase in interest rates that are now providing causal effects across the economy. In particular the economy of the USA, that has been a focus of concern across financial sector industries in the UK. Commenting on the effect that world interest rates have on domestic interest rates, Mr King said that: "We look at the balance between demand and supply, we ask ourselves what goes into that balance and there is no doubt that what is happening in the rest of the world is a key input into that assessment. However, the way in which overseas interest rate changes affect our judgement is solely as an input into that judgement." "all central banks are very clearly focused on meeting their own price stability objectives. Of course they take the rest of the world into account, but they do not say 'Oh gosh, Jean-Claude has put up interest rates, perhaps we ought to keep up with him'; it is not like that" (House of Lords 2006 p.10). Therefore, the economics of equilibrium are a force that has to be recounted in that the elasticity of the economy is a crucial aspect of financial housekeeping in all World economies and despite the fact an economy must predominately consider its own fiscal policies, rather than being affected by other economic decisions. The problematic area of asset is also a crucial factor when considering the level of impact on an economy, in the same report, the select committee discussed the recent developments in asset management in the USA which has infected the relational economies that have relied on in particular, citing Mr Ben Bernanke, Chairman of the US Fed. stated that: Part of the problem concerning the relation between money growth and inflation is that for many households money holdings are an asset, as they are a form of saving as well as a source of potential purchasing power. The down-turn in stock markets in 2000 may have caused a flight into money and so begun the growth in M4. With the growth of non-bank financial intermediaries, and the increased use of mortgage withdrawal based on