Friday, May 22, 2020

Competition Between Ford And General Motors - 1465 Words

Topic: Competition between Ford and General Motors has led to their Success Name Course Instructor Introduction The Ford Motor Company and General Motors have greatly influenced and shaped the global automobiles industry over the 20th Century. While there are other big car-makers both in the United States and elsewhere in the globe, the two companies have been the commonest and significant players across the entire sector. This research focuses on an argument of how competition between both companies has benefited them. Market Share One of the most notable outcomes of the competition between Ford and General Motors has been their control of the global automobiles industry. Both companies enjoy have many clients within the United States of America and other parts of the world. This would not have been the case had the two companies not been in direct competition with each other. Whenever Ford introduces a new model in the market, General Motors is always quick to do the same (Ford 14). Similarly, the development of a new model by the latter company serves as a lead for Ford Motor Company to introduce a new brand. This neck-to-neck tussle for the American and global market for automobiles has positively affected the exceptional success of both companies. In most cases, companies tend to view competition with a perception that is more or less negative. All companies desire to dominate any given market without being outfought or outwitted by rivals. However, the implications ofShow MoreRelatedCompetition Between Ford And General Motors1477 Words   |  6 PagesMorellato ENGL 080 03/29/2015 Competition between Ford and General Motors has drove them to their Success The Ford Motor Company and General Motors have a greatly influenced and shaped the global automobile industry in the 20th Century. While there are other big car-makers in the United States and other places in the world, the two companies have been the most popular and important players in that sector. This research focuses on an argument of how competition between both companies has benefitedRead MoreUsing Scanning The Horizon Of Possibilities Essay1163 Words   |  5 Pageson new perspectives to possible future threats or opportunities (Gordon Glen). A tool that helps recognize the ecological deviations and tendencies is known as scanning. â€Å"Through scanning, firms identify early signals of potential changes in the general environment and detect changes that are already underway† (Hitt, M. A., Ireland, R. D., Hoskisson, R. E. (2015).This is very important to companies because this is how they understand what is happening and how they should adapt to the enviro nmentRead MoreLogistics Collaborations. Introduction. Collaborations1245 Words   |  5 Pagesorganization and its business circumstances† (Poirier, 2008, p. 99). The focus on a collaboration benefiting its business circumstances, in addition to yielding benefits, while allowing for a competitive market place are key. Despite the need for competition in a successful marketplace, collaborations yield unprecedented benefits to business consumers. Literary Review As Diagnosing Greatness teaches, collaborations are vital to business with increased globalization. Logistics collaborations existRead MoreThe Financial Position Of Ford Motor Company1084 Words   |  5 Pagesindustry competition. This paper aims to assess the financial position of Ford Motor Company in comparison with General Motors Company. The evaluation will consider the computation of ratios such as; liquidity ratios, profitability ratios, dividend policy ratios, asset turnover ratios, and financial leverage ratios. The automotive companies are both listed on the NYSE exchange with the symbol ‘F’ being the ticker representation of Ford Motor Company, and ‘GM’ is the ticker symbol for General Motors CompanyRead MoreEnvironmental Challenges Facing The American Auto Industry845 Words   |  4 Pagesexistence since 1896 when Henry Ford built his first car. He then invented the assembly line which allowed for the production of multiple cars, and this made the price of cars more affordable to buyers. By the 1920s, the assembly line concept of production was used by the largest auto companies in the United States, namely Ford, General Motors and Chrysler. The auto industry has always been faced with environmental and hazardous issues. Such issues include global competition, new technology for poweringRead MoreHow Globalization has Affected the American Automotive Industry652 Words   |  3 Pages Globalization brought upon many changes to the American Automotive Industry in 1975. Increasing demand for import automobiles and the Energy Policy and Conservation Act served to be a real threat to the Ford Motor Company, American Motors, Chrysler Corporation, and General Motors. Out of these four manufacturers Chrysler was affected the worst by the industrial change, as they required a federal aid and required brand /management changes to revive themselves. Globalization formed a more competitiveRead MoreCase Study: Business Process Reengineering General Motors Corporation900 Words   |  4 PagesProcess Reengineering General Motors Corporation   â€Å"General Motors is one of three leading automotive manufacturing companies in the United States. Based in Michigan in 1903 by Henry ford and grew to reach revenue of $150 billion and more than 370,000 employees by 1996. In the 1970s, the automobile market for the major auto makers - General Motors (GM), Ford, and Chrysler- was crunched by competition from foreign manufactures such as Toyota and Honda. In 1999, Ford acquired the Swedish VolvoRead MoreGeneral Motors And The U.s. Auto Industry1029 Words   |  5 Pages Five Forces Analysis of General Motors and the U.S. Auto Industry Trinity Washington University Jessica Jackson I realize the responsibility involved in membership in the Trinity community. I agree to abide by the rules and regulations of this community. I also affirm my intentions to live according to the standards of honor, to which lying, stealing, and cheating are opposed. I will help others to maintain this responsibly in all matters essential to the common good of the community.Read MoreCapitalism Is An Economic And Political System1684 Words   |  7 Pagesprivate owners for profit, rather than by the state. This leads to the constant competition within companies to make more profit. There are three characteristics of capitalism: Goods and services are privately held, limited government intervention, and prices are determined by supply and demand [Farrell 2015]. Due to capitalism companies are forced to make questionable decisions in order to stay ahead of their competition. The goal of these choices are to make more money and spend less of it. ThisRead MoreAmerican Automobile Industr y1162 Words   |  5 Pagesgrowing and with this growth we see a need for energy and with it has come a high price at the pump. Ford Motor Co. and General Motors Corp. due to a lack of planning, inability to adjust to this energy crisis, and other problems have led to massive losses. With investors anxious for change, American auto industry in order to compete in the car industry has sought ways to cut their costs. Both Ford and GM have resolved to plant closed downs and massive layoffs. To compete with foreign automakers

Thursday, May 7, 2020

The Causes and Consequences of the Herero War (1904-1907)...

The Herero Wars: By Denise R. amp; Vidhi S. Causes and consequences Table of contents: 3. Introduction 4 – 6. Examples and analysis of primary amp; secondary sources 7 – 8. The causes amp; consequences of the Herero wars 9. Conclusion 10. Sources Introduction The Hereros were people living in what is now the independent nation of Namibia. Herero chiefs were independent, presiding over a decentralized tribal government, with extended families and their cattle herds spread over hundreds of miles. Germany first arrived in Africa in 1884, using the private land claims of a businessman, Adolf Luderitz, as the legal basis for establishing a protectorate over a vast desert hinterland, making South West Africa its†¦show more content†¦On the 104th anniversary of the rebellion this month, Anna Rosenberg traces native resistance to German rule in South West Africa (now Namibia).† - Samuel Maharero in Namibia: Lets Die Fighting Rather Than Die of Maltreatment * This quote is an excerpt of a book, in which Samuel Maharero (leader of the Herero tribe) expresses his frustration by writing it down before the rebellion in 1904. In that period of time he was still working on his plans on the rebellion, and he was becoming more and more fru stration about the maltreatment of his people and the Germans making his country their territory. The conditions the Herero were living in were so bad that he had already taken dying into consideration either way. It seems that he is not afraid of dying. He knew that his people didn’t have armory as advanced as the Germans did and that their chances for victory were very slim, but he took the risk because in his opinion it was worth it to die fighting a hopeless case than to die from maltreatment. He feared that the Germans would rot out the Herero and make Namibia entirely theirs, and he sees no other way to avoid fighting. â€Å"I was present when the Herero were defeated in a battle in the vicinity of Waterberg. After the battle all men, women, and children who fell into German hands, wounded or otherwise, were mercilessly put to death. Then the Germans set off in pursuit of the rest, and all those found by theShow MoreRelatedOne Significant Change That Has Occurred in the World Between 1900 and 2005. Explain the Impact This Change Has Made on Our Lives and Why It Is an Important Change.163893 Words   |  656 Pages Agricultural and Pastoral Societies in Ancient and Classical History Jack Metzgar, Striking Steel: Solidarity Remembered Janis Appier, Policing Women: The Sexual Politics of Law Enforcement and the LAPD Allen Hunter, ed., Rethinking the Cold War Eric Foner, ed., The New American History. Revised and Expanded Edition E SSAYS ON _ T WENTIETH- C ENTURY H ISTORY Edited by Michael Adas for the American Historical Association TEMPLE UNIVERSITY PRESS PHILADELPHIA Temple

Wednesday, May 6, 2020

Skills and Learning Statement Acca Free Essays

Skills and Learning Statement Here, I will be discussing my experience, which I have gained while working on the project: ? Things learnt during the meetings with Project Mentor – Mr Raj My meetings with project mentor became a key success factor for my project. He showed me the direction from where I could start my project and reach to conclusion. Most of the meetings were held personally, which proved more effective than other sources of communication. We will write a custom essay sample on Skills and Learning Statement Acca or any similar topic only for you Order Now I also managed to secure his personal contact number, which enabled me to contact him from time to time helping me solve my confusion relating to research. First meeting On our first meet I did not have a clear idea with what am I going to discuss with him. I was confused, rather lost with a couple of options/ideas in terms of the project, but my mentor immediately caught my uneasiness and he himself initiated the discussion. He asked me some questions regarding my interest and objectives for choosing the particular project and spotted the ideal topic on which I should research and write a report on. This was the time when he gave me basic outlines on how should I approach the subject, the ways I should analyze it and so on. It was quite basic, but it was our first meeting, he didn’t want to put pressure on the first day. From above, I learnt that planning should be the initial stage of any topic or subject. Even before the meeting, if I had only planned everything in advance, it would have been more productive. †¢ Second meeting On this occasion I was much more organized and had a clearer idea of what I was going to talk about with him. I was more confident, which helped me initiate the discussion and ask more questions that further helped securing his trust in me. But, during the meeting, he realized that I was deviating from my subject area. Therefore he gave me certain suggestions through which I was able to draft a report structure, so that I do not go off topic yet again. Some other recommendations include approach to report, critical evaluation and conclusion. From this meeting, I learnt how to design a project structure and how to approach the subject area, concentration being the key. †¢ Third meeting This is the time when I made my first presentation, when I showed first draft through a slide show to my mentor and a group of people (mentor’s colleagues). My familiarity was limited to my mentor, which made me nervous and gradually affected my presentation in front of unfamiliar group of people. But, I managed to give my best and eventually ended up answering most of the questions asked by audience. Since beginning, I found it too hard to make judgements and reach to conclusions from the information I gathered. As a result, project was redrafted so many times that it became very frustrating for me. Further, my mentor kept stressing on a point that is to be critical to what I wrote from the beginning to the end. He believed by being critical one can improve one’s own work, which I later realized was true. This was a good learning part of my project, from which I learnt: -How to present yourself in front of others. -How to be confident when we are dealing with questions asked by audience at the time of a presentation. -How to attract other people’s attention and make them more interested in one’s topic. ? Personal performance on project objectives: In the event of data collection process, I was hoping that I have answers to all questions, but from actual analysis I realized that sometimes reality is different than what you think it is. The preliminary source of data was the company’s annual report. The information presented in financial statements is only a summary of company’s operations and financial performance, which is normally related to events, which took place in the past. Ratio analysis was used to analyse the information contained in financial statements. Both of the companies being public ltd. companies, the research question was answered in greater depth as I got access to required information on non financial indicators, corporate governance structures and the likes. While some best practices are only included in company’s internal documents such as internal audit reports, I did not have access for the same, which I believe was one of the drawbacks I faced while working on this project. What I got was external and past information of the companies and on those bases I did the assessment of their decision. But, I am sure that internal information may have been more helpful. I believe that the quality of RAP would have been much better, if only the data collection was successful i. e. if I could get precise information, e. g. I could not manage to secure data for overall airline industry i. e. the overall financial ratios, which could be used to compare with the chosen companies. Attempts were made to gather data through calling and e-mailing, BA and Iberia, but all in vain. Also initially, I didn’t take referencing concept seriously. But through out my research review by different people especially by my mentor I found out how important referencing of data was. Now, I understand the necessity of referencing, corresponding to data gathered. Finally, as per the information availability, the amount of research I elieve was reasonably enough to cover whole aspect of the project. I constantly strived to get the best answers, making my project worthwhile. This was the best practice for my research to make it more objective than subjective. ? Demonstration of my interpersonal and communication skill: As suggested by my mentor I gathered my thoughts together before I started writing my report or even a to pic. It helped me enhance my skills from structuring my report to keeping it in a flow, which I feel I acquired through my ACCA papers. During the initial stages, the most prominent problem I faced was the mis-communication, may be due to the communication gap between me and the people with whom I worked till the finalisation of report, especially with my mentor. This I feel is very natural, when you are not meeting your mentor everyday and if there are some doubts, one has to email the other, leading to mis-communication. Also, every person has a different thought process, viewpoint and lookout. Some agree to it, while others don’t. To be honest even I didn’t like some of the comments and suggestions given by my mentor. This led to some complications in my project, i. e. basing on different opinions. But, to solve the problem, adequate steps and efforts were put in to reduce the communication gap. Presentation stage – This was the most dreaded part of my project as I have never made a presentation in my life in front of a group of people. I had to practise hard to improve my presentation skills, for which I made some presentations from a mirror to my family and friends. I tried to learn from negative feedback, while positive comments were taken well into consideration basing it as my strengths for presentation. Overall from each meeting, Mentor suggested that things could be better if I work on my verbal communication skills, which he said could be improved by interaction with more people. Mentor also suggested me to stick to one point to reduce any confusion. Interpersonal skills, which I developed with time, helped me in a manner where I communicated with different people in regards to my project. I learnt how to respect other’s opinions and views but at the same time how to exchange my views in an appropriate manner. As I mentioned earlier, my mentor was very critical, which helped me learn a lot from him. I realised that if I control my ego, then I can probably interpret in more efficient way. I learnt that the change in my attitude will help me enhance myself and my skills for my further professional career. ? Impact of project in my accountancy studies and employment career From this project report I found other sources of gaining knowledge other than lectures in college. This project was a learning curve for me, which improved my adaptable learning skills, which I feel will definitely help me in my future professional encounters, where I will have to be flexible at every stage. The techniques to study and analyze the project are all related to my past and current studies and future career. In my past education system, I often relied on understanding the techniques and models to solve case studies, but the current project report improved my critical thinking skills, which I believe will not only be supportive to my further ACCA papers but also to my career. The project provided me the knowledge i. e. what does each and every model I used meant and how was it implemented, in the real world? Furthermore, improvement in my writing style would help me score good marks in my exams. Since, there was a word limit for RAP, through this project I enhanced my writing skills i. e. to write to the point and not beat around the bush. The project did help me to consider time limit, which improved my organisational skills that should be helpful for my future career. Time management is important to meet deadline for any project. By this time I feel I have became more capable to plan and organize my further ACCA papers. My research work also improved my reading skills, which I believe would lead me to finish my exam in a limited period of time provided. The project work made me interested into reading newspapers, different kinds of articles, business pod casts and magazines, from which I will gain more knowledge and it may also be helpful for my future career. Through out this research I identified my strengths and weaknesses along with my personality, which will lead me to beat my drawbacks and enhance my skills in my accountancy profession. How to cite Skills and Learning Statement Acca, Essays

Monday, April 27, 2020

International Human Resource Management Essay Example

International Human Resource Management Essay Guide To International Human Resource Management By Santosh Bagwe [emailprotected] com +91 99676 42282 Index †¢ Introduction to International HRM ? ? ? ? ? ? †¢ Definition Difference between IHRM and Domestic HRM Difference between Domestic and International Managers Type of International Employees Issues in IHRM Barriers to Effective Global HRM Understanding Culture ? ? ? ? ? ? Elements of Culture Factors encouraging convergence of Cultures Factors encouraging change of culture Determinants of Culture Importance of cultural sensitivity for global business and diplomacy Impact of culture on management approaches Cross Culture Business Communication and Behaviour ? ? ? ? ? Deal Focus VS Relationship Focus Formal VS Informal Rigid Time VS Fluid Time Expressive VS Reserved Cultures Business Protocol †¢ Cross Cultural Negotiations ? ? ? ? ? ? ? Need for cross cultural negotiations Anatomy of negotiations Prepare for international negotiations Parameters of negotiations Pla nning for negotiations Importance of trust in negotiations Negotiation styles of major cultural groups and countries †¢ International Business and IHRM Approaches ? Stages of Internationalisation of Business ? Management Philosophy/Approaches to IHRM ? Competencies Required in International Managers †¢ Recruitment and Selection by Multinationals ? ? ? ? International Labour Market Sources Selection Procedure of Expatriates Expatriate Success Factors Adaptability to cultural change †¢ Expatriate Training and Development ? ? ? ? ? Need for training to Expatriate Cultural Integrator Cultural Awareness Training Types of Cross Cultural Training Cultural Assimilators †¢ Organising Multinational Structures ? Stages of Structural Evolution of Multinationals ? New Types of Multinational Structures ? Role of Human Resource †¢ Compensation Management ? ? ? ? Factors Influencing Compensation Programmes Paying Expatriates Approaches to Expatriate’s Compensation Cultural Impact and Compensation Policy †¢ Performance Management in International Organisations ? ? ? ? Performance Management and its link with other HR processes Multinational Performance Management Performance Management of Expatriates Variables that Influence Performance of Expatriate †¢ Organisational Ethics ? ? ? Ethics Ethical Issues Facing Multinationals What can Organisations do to foster Ethical Behaviour Good Corporate Citizen Introduction to International HRM Definition General : â€Å"Procurement, allocation, utilisation and motivation of Human Resources in International business. † P Morgan: Two groups of variables that affects basic HR process 1st – Types of employees 2nd – Poli tical, economic, legal environment, labour laws and practices prevailing in different countries Accordingly IHRM can be defined as an interplay between these two group of factors. We will write a custom essay sample on International Human Resource Management specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on International Human Resource Management specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on International Human Resource Management specifically for you FOR ONLY $16.38 $13.9/page Hire Writer But in other model, one more group is added i. e. multinational’s operational philosophy. Difference between IHRM and Domestic HRM †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ Responsible for a greater number of functions and activities Broader knowledge of foreign county employment law Closely involved with employees lives Cope with more external influences Exposure to problems and liabilities Management of differential compensation Diversity management More liasoning activities More coordination and travel More risk management Difference between Domestic and International Managers †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ Global mindset Communication skills Conflict management skills Oriented towards a process of continual change International experience Political, economical and social sensitivity and knowledge of many countries Knowledge of culture shock and how to minimise it Leadership and team building skills Types of International employees 1) 2) 3) 4) Foreing parent expatriates Host Country nationals Third Country expatriates of foreign parent Third Country expatriates of new venture Issues in IHRM †¢ †¢ †¢ †¢ †¢ Managing international assignments Employee and family adjustment Selecting the right person for a foreign assignment Culture, communication and gauge Language and communication Barriers to effective global HRM †¢ †¢ †¢ †¢ †¢ Variations Perception of HR Attitude and actions of headquarters towards HR Resistance to change Cultural differences in learning and teaching styles Understanding Culture Elements of Cultures †¢ †¢ Values form the bedrock of a culture Norms ? Folkways – actions of little more significance, the way people are expected to behave ? Mores – Central to the functioning of a society and to its social life Cultural traits – unique aspects of individual cultures Enculturation – the process of acquiring cultural traits Diffusion – the process through which cultures change Acculturation – traits borrowed over short term become permanently adopted Assimilation – immigrants or other newcomers adopt the culture of society in which they have settled †¢ †¢ †¢ †¢ †¢ Factors encouraging convergence of Cultures †¢ †¢ †¢ †¢ †¢ †¢ Improvements in transport and communications Globalization of media Similarities in the tastes and consumption patterns of young people The operation of multinationals across the world Consumers’ willingness to accept fresh ideas and try new products Adoption of similar technologies in several countries Factors encouraging change of culture †¢ †¢ †¢ †¢ †¢ †¢ †¢ Rising living standards Urbanization of population Immigration and emigration Economic and political destabilization Improvement in the education system Opening of foreign trade Introduction of new technologies Determinants of Culture †¢ †¢ †¢ †¢ †¢ †¢ Religion – a system of shared beliefs and rituals that are concerned with the realm of the sacred. What is important for management is how religion shapes the attitude of a society towards work and entrepreneurship. Social Structure – It is the degree of relative importance to individualism or group that differentiates different cultures. Social Mobility – The extent to which individuals can move out of the caste or class in which they are born. Language – It distinguishes one culture from another. Education – Learning and sharing cultural values happens through the education system. Aesthetics – the things such as designs, forms, colours, shapes, sound, conveying the concept of beauty and good taste. These are reflected in the music, art and architecture of a society. Importance of cultural sensitivity for global business and diplomacy †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ Communicate effectively with customers, suppliers, business associates in other countries and with foreign employees Conduct egotiations and understand body language of other parties Predict trends in social behavior likely to affect the firm’s foreign operations Realize social responsibility in various countries Predict impact of cultural differences on consumer reactions to advertisements Foster relationship between union and employees Understand local govt. policies Conduct efficient meetings in different meetings and encourage employee participation Impact of culture on management approaches †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ Centralized vs decentralized decision making Safety vs risk Individual vs group rewards Informal vs formal procedures High vs low organizational loyalty Cooperation vs competition Short term vs long term horizon Stability vs innovation Cross Culture Business Communication and Behaviour Deal Focus VS Relationship Focus Deal Focus Culture Task oriented DF find RF dilatory, vague and inscrutable Open to do business with strangers. They straight away talk business and get down to facts. DF value direct, frank, straightforward language Relationship Focus Culture People Oriented RF find DF as pushy, aggressive and offensively blunt. Prefer to deal with family, friends and persons who can be well known and trusted RF favours an indirect, subtle, roundabout style. They give priority to maintaining harmony and avoid saying anything that may cause embarrassment or loss of face. Country wise distribution DF: German, North America, Australia and New Zealand Moderately DF: UK, SA, Brazil, Mexico, Hong Kong and Singapore RF: Arab World, Africa, Latin America and Asia Formal VS Informal Formal Culture Organized in steep hierarchies which reflects major differences in status and power Formal way of addressing people and maintaining proper protocol are ways of showing respect to people. Country wise distribution Formal: Most of Europe, Asia, Arab, Latin America Informal: Australia, USA, Canada, New Zealand, Denmark, Norway, Israel Informal Culture Egalitarian organization with smaller differences in status and power RF don’t know how to show respect to high-ranking persons from formal cultures. Rigid Time VS Fluid Time Rigid Time Punctuality is critical, schedules are set in concrete, agendas are fixed and business meetings are rarely nterrupted. Country wise distribution Monochronic Business Culture: North America, Japan, German Moderately Monochronic Business Culture: Australia, New Zealand, Singapore, Taiwan, China, South Korea, South Africa, Southern Europe Polychronic Business Culture: Arab World, Africa, Latin America, SE Asia Expressive VS Reserved Culture Expressive Expressive people tend to be uncomfortable with more than a second of silence during conversation. Country wise distribution Very Expressive Culture: Latin Europe, Latin America Variably Expressive Culture: USA, Canada, Australia, New Zealand, South Asia, Africa Reserved Culture: East and SE Asia, Nordic Europe Business Protocol †¢ Dress Code †¢ Business Cards †¢ Gifts †¢ Form of Address Reserved Reserved cultures feel at ease with much longer silence. Fluid Time Less emphasis on punctuality and not obsessed with deadlines. Meeting within meeting. Cross Cultural Negotiations Need of cross cultural negotiations †¢ Govt. ften imposes restrictions on repatriation of profits and ownership of raw material resources and requires employment of local people and use of indigenous input. MNCs have resources, technology and management skills and they want tax concessions and protection of their patents and technology. Hence the two must interact and negotiate with each other to settle terms. Seeking to enter a market via an agent or distributor Setting up sales netwo rk Establishing a joint venture or production facility Licensing a technology or seeking technology transfer Mergers and acquisition †¢ †¢ †¢ †¢ †¢ Anatomy of negotiation Negotiations involve two levels †¢ Rational decision-making level †¢ Psychological and social level Psychological and social elements are affected by culture, therefore, negotiations are as much to do with psychological as with the rational. Preparation for negotiation †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ Taxation and legal data Commercial data Financial and economic data Infrastructure data Labour force data Political data Trade unions Cultural data Parameters of negotiation †¢ †¢ †¢ †¢ †¢ †¢ †¢ When to negotiate When to negotiate Who negotiates Who has the authority to decide Why negotiate How to negotiate How much time is needed for negotiation Planning for negotiations †¢ †¢ †¢ †¢ †¢ What is the minimum I can accept to resolve the conflict What is the maximum that I can ask for without appearing outrageous What is the maximum I can give away What is the least I can offer without appearing outrageous What answers is the other person likely to have these questions How to conduct successful negotiations †¢ †¢ †¢ †¢ †¢ †¢ †¢ Separate people from the problem Emphasise win-win solutions Find underlying interests Use an objective standard Understand the other party Negotiation as a sequence of events The intangibles Personalities Physical space Time pressure Who has the authority to decide Goals Importance of Trust This means accepting that they will †¢ Negotiate in good faith †¢ Exchange information that is needed to solve problems †¢ Not resort to unethical behaviour, for example, tapping your communication with HO †¢ Respect the secrecy of information and opinions expressed in confidence †¢ Do their best to convince their members to accept any agreement that they make with you †¢ Do their best to implement the agreement Guidelines for negotiating in different cultural zones †¢ †¢ †¢ †¢ †¢ †¢ †¢ Japan (China, South Korea, Taiwan, Singapore) – A relationship-focused, formal, monochromic and reserved culture Germany (UK, Denmark, Finland, Netherlands, Czech Republic) – A dealfocused, moderately formal, monochromic and reserved culture France (Belgium, Italy, Spain, Hungary) – A moderately deal focused, formal, variably expressive and monochromic culture Russia (Poland, Romania) – A relationship-focused, formal, polychromic and expressive culture Brazil (Argentina, Mexico and other Latin American Countries) – A relationship-focused, formal, polychromic and expressive culture Saudi Arabia (Egypt, Greece, Other Middle-eastern Countries) – A relationship-focused, polychromic and expressive culture Australia (Canada, USA, New Zealand) – A deal-focused, informal, monochromic and variable expressive culture International Busin ess and IHRM Approaches Stages of Internationalisation of Business †¢ Domestic Firms Many well-known firms were domestic firms. Companies understand their markets, customers, perfect their technologies and products, and learn to operate business. International Firms A domestic firm begins the internationalisation process when it is involved in direct and indirect exporting, importing, and licensing, franchising, manufacturer’s contract, technical agreements or joint ventures. Multinational Firms Any firms that performs its operations in at least two countries. A firm that owns income-generating assets in more than one country. A manufacturing company that does business in several countries. Control is largely decentralised and it is expected to make decisions on local R D, production, distribution and marketing. The MNC HQ exercises worldwide financial control. Transnational Firms Advanced stage of MNC in which nationals of different countries hold shares in Company Strategies focus on the simultaneous attainment of local and experience economies Criteria for assessing the globalisation levels – Share of foreign assets, shares of sales beyond the national boundaries and % of employment of foreign nationals. Global A corporation develops a coordinated system that searches the world to borrow money at the lowest interest rates, purchases raw materials from anywhere at the lowest price, manufactures at the lowest costs, sells at the highest profits and invests in gains for highest return. The world is a single entity for them. Selects best people for management regardless of nationality. It offers globally standardised products that are advanced, functional, reliable and at low price. It doesn’t completely reject product customisation and differentiation, but adjusts to differences in product preferences only after exhausting all efforts to retain standardisation. Transnational Confederations Primarily organised around technology, design and marketing A small or medium sized company rather than a large company Stages of production performed by subcontractors, rather than by subsidiaries or branches Primarily a managing or marketing company †¢ †¢ †¢ †¢ †¢ Composed of two parts, one that designs and market product worldwide and the other that manufactures the products Management philosophy/approaches to IHRM †¢ Ethnocentric Organisation Home oriented organisation. â€Å"This works in my country; therefore, it must work in other countries also. They believe that home country nationals are more intelligent, reliable and trustworthy. All key positions in HQ and international are for Home Country nationals When rewards are distribut ed, home country nationals receive the lion’s share. Polycentric Organisation Host country oriented. â€Å"When in Rome do as the Romans do† Local people know what is best for them. Let’s give them some money and leave them alone as long as they make us a profit. Home Country nationals at HQ and local nationals at respective local subsidiary. HQ keeps check through financial and posting of key persons. Regioncentric Organisation Regionally oriented organisation Eg. Japanese subsidiary will manage its Asian operations and a French subsidiary will manage European operations â€Å"Regional insiders know what neighbouring countries want† Regional HQ will be responsible local R D, local executive selection ,cash management, brand policy, capital expenditure. HQ will manage world strategy, country analysis, Intercompany loan, long term financing, selection of top management Geocentric Organisation World oriented â€Å"All for one and one for all. We will work together to solve problems anywhere in the world. † The entire organisation focuses on worldwide and local objectives. They integrate diverse regions through global decision making, making possible flow of ideas between countries, allocate resources on a global basis, erase geographical boundaries and globalise functional and product line. Reward system motivates managers to surrender national biases and work for worldwide objetives. †¢ †¢ †¢ Competencies required in international managers †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ Knowledge of One’s own country A global perspective Global mindset Knowledge of other country Understanding of international business environment Understanding international business partners Knowledge of Customers Knowledge of the silent and spoken international language Knowledge of business etiquettes of the host country Recruitment and Selection by Multinationals International Labour Market Sources †¢ Parent Country Nations (PCNs) PCNs are managers who are citizens of the Country where the MNC is headquartered. The reasons for using PCNs include The desire to provide the company’s more promising managers with international experience The need to maintain and facilitate organisational coordination and control The unavailability of managerial talent in the host country The company’s view of the foreign operation as short lived The host country’s multi-racial population The belief that a parent country manager is the best person for the job. Host Country Nationals (HCNs) HCNs are local managers hired by MNCS The reasons for using HCNs Familiar with the culture, language Less expensive, know the way things done, rules of local market Hiring them is good public relation Third Country Nationals (TCNs) TCNs are managers who are citizens of countries other than the one in which the MNC is headquartered or the one in which it is assigned to work by the MNC. The reason for using TCNs These people have the necessary expertise They were judged to be the best ones for the job. †¢ †¢ Selection procedure of Expatriates †¢ Use of selection test †¢ Technical Ability †¢ Cross cultural requirements Following traits are identified s predictors of expatriate success Cultural empathy Adaptability Diplomacy Language ability Positive attitude Emotional stability and maturity †¢ †¢ Family requirements Multinational requirements Management philosophy or approach The mode of operation involved The duration of assignment †¢ The amount of knowledge transfer inherent in the expatriate’s job in foreign operation Language skills Expatriate Success factors †¢ †¢ †¢ †¢ †¢ †¢ Willing and motivated to go overseas Technically able to do the job Adaptable Good interpersonal skills and be able to form relationship Good communication ability Supportive families Adaptability to cultural change †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ Work experience with cultures other than one’s own Previous overseas travel Knowledge of foreign language Ability to integrate with different people, cultures, and type of business organisation The ability to sense developments in the host country and accurately evaluate them The ability to solve problems within different frameworks an from different perspectives Sensitivity to subtle differences of culture, politics, religion and ethics in addition to individual differences Flexibility in managing operations on a continuous basis, despite of lack of assistance and gaps in information An adjustment model Two major types of adjustments that an expatriate must make when going on an overseas assignment. †¢ Anticipatory adjustment Carried on before he leaves for the assignment It is influenced by following factors predeparture training pervious experience In-country adjustment Ta kes place on site It is influenced by following factors Ability to maintain a positive outlook in high pressure Jobs as reflected by the role he plays in managing, authority he has to make decisions, newness of work-related challenges and the amount of role conflicts †¢ Organisation culture Non work factors – toughness with he faces new cultural experience, family adjustment with new country Socialisation factor – to know what is what and who is who Expatriate Training and Development Need for Training to Expatriate †¢ †¢ †¢ †¢ Cost of expatriate failure is very high To build a team of internationally oriented, committed and competent personnel Minimize personal problems such as politeness, punctuality, tactfulness, orderliness, sensitivity, reliability, tolerance and empathy Improve overall management style Pre-departure Training- Emphasises on cultural awareness and business customs of the country of posting to cope with unexpected events in a new country. Post-departure Training – helps in minimising culture shock and depression that usually sets in a new country and culture. Cultural Integrator †¢ An individual who is responsible for ensuring that the operations and systems are in accordance with the local culture. †¢ He advises guides and recommends action needed to ensure this synchronisation. †¢ Even though expatriate are trained before being sent abroad, they are still not totally prepared to deal with the day-to-day cultural challenges because they lack field experience. †¢ He is responsible for handling problems between the subsidiary and host cultures. †¢ He may be from parent country or host country who has intimate knowledge of the company’s culture and can view operations from both sides. †¢ He can only advice ore recommend a course of action. Management philosophy and training †¢ Ethnocentric companies will provide all training at the HQ. †¢ Polycentric companies will rely on local managers to assume responsibilities for seeing that the training function is carried our wherever appropriate. †¢ Geocentric companies organise training courses in different parts of the world, where a particular function is best carried out. †¢ Regiocentric companies organise training courses in different countries of the region. Cultural Awareness Training †¢ There are five types of pre-departure training o Area studies that include environmental briefing and cultural orientation o Cultural assimilators o Language training o Sensitivity training and o Field experience †¢ †¢ †¢ †¢ †¢ To decide the rigour and level of training, following factors are important o degree of interaction required in the host culture o similarities between home and host cultures If interaction is low and similarities are high, then training should be on task and job related issues rather than culture related issues. If interaction is high and similarities are low, then training should be on cross cultural skill development as well as task. Preliminary visits o average duration will be about one week o A well planned overseas trip for candidate and spouse provides a preview to access their suitability for job, introduction to host country management, accommodation required, and schooling facilities available. Language training Types of cross cultural training †¢ Environment briefing about geography, climate, housing and schools †¢ Cultural orientation to familiarise with cultural institutions and value system of host country †¢ Cultural assimilators to provide intercultural encounters †¢ Language training †¢ Sensitivity training to develop attitudinal flexibility †¢ Field experience to make expatriate familiarise with the challenges of assignment Cultural Assimilators †¢ It is a programmed learning technique that is designed to expose members of one culture to some of the basic concepts, attitudes, role perceptions, customs and values of another culture. These assimilators are developed for one culture where the candidate is currently working and the other culture is where he is proposed to be posted. †¢ Type of assimilators o The trainee read a short episode of cultural encounter and choose an interpretation of has happened and why. o Critical inci dents: to be identified as a critical incident, a situation must meet at least of the following conditions: An expatriate and a host interact in the situation The situation is puzzling or likely to be misinterpreted by the expatriate The situation can be accurately interpreted if sufficient knowledge about the culture is available †¢ The situation is relevant to the expatriate’s task or mission requirements Organising Multinational Structures Stages of Structural Evolution of Multinationals †¢ Stage 1 – Export o An export or import or franchising arrangement o Company appoints an export manager who reports to chief of marketing and all operations concerning export and imports are controlled by the home office Stage 2 – Initial Division Structure o At this stage, company creates an export division at the corporate home office and the export division head directly reports to CEO. o As international sales increases, the local government exert pressure to set up manufacturing facilities. This prompts the company to set up a subsidiary. o Each subsidiary will be responsible for operations within its own geographic area. Subsidiary manager reports directly to the export division head o The role of subsidiary manager is To transfer of managerial and technical know-how to subsidiary Communicate, coordinate and implement corporate policies Assist corporate office by keeping HQ informed of political, economic development, opportunities and threats in its market. Liaising with local government Stage 3 Global Product/Area/Functional Structure o When companies start acquiring and allocating resources on the basis of global opportunities and threats, global structures are necessary either on product, geographical area or functional patterns ? Global Product Division: In this structure, the company treat each of its major products as distinct SBUs. The logic behind this structure is that products and services of the company should be sufficiently distinct in product technologies, requiring different marketing skills to deal with different types of customers and markets. Each product division is treated as a separate profit centre. The corporate HQ will maintain control in terms of budgetary constraints, approval of certain decisions like launching of new product, total profit and contribution. Benefits It improves client satisfaction because product responsibility and contact points are clear Helps to integrate marketing, production and finance globally on product basis It provides a direct link from customers to policy makers and directs R D efforts into new products †¢ †¢ Disadvantage Duplication of personnel within each division Neglecting areas with long-range potential o Global Area Division In this structure, MNC prefers to divisionalise the foreign operations on the basis of geographical unit. This structure is useful when economic and political environment in different countries is fast changing product range is not too broad common resources can be shared, product lines are in the maturity stage Disadvantage Lack of centralised management and control R D is ignored o Global functional Structure Not very common except in mining and construction fields The operations are divided worldwide on the basis of function. Marketing, finance, operations and HRM functions directly report to corporate functional chief. Stage 4 – Global Matrix Structure o When a MNC is trying to integrate its operations in more than one dimensions, like product as well as area, or customers and technology, it resorts to the matrix structure. o Both product and area division share joint responsibility. o In this structure, there is a pressure from horizontal matrix managers for equal allocation of resources; however the vertical managers are supposed to balance this by organisational priori ties and other long term consideration o Advantage Better quality decisions Better customer focus or response to local needs o Disadvantage Coordination becomes difficult Dual reporting can cause frustration and confusion Matrix forces managers to spend time on meetings Information logjams due to proliferation of communication New types of Multinational Structure †¢ Heterarchy o A MNC might have a no of different kinds of centres apart from the traditional centre HQ o The argument is that competitive advantage does not necessarily reside in any one country o E. g. Centralised R D in a particular subsidiary o Control is less reliant on the top-bottom mechanism of previous hierarchical modes and more reliant on mutual cooperation and coordination, organisation culture and widely shared awareness of central goals and strategy. †¢ Transnational o It is characterised by an interdependence resources and responsibilities across all business units regardless of national boundaries. The transnational copes with large flows of components, products, services, resources, people and information among its subsidiaries, while simultaneously recognising the specialised resources and capabilities of each business unit. o It demands a complex process of coordination and cooperation involving strong cross-unit int egrating devices, a strong corporate identity, and a well developed worldwide management perspective. Networked Firm o Subsidiaries have developed into significant centres for investment, activities and influence, and cannot be regarded as at the periphery. o Interaction between HQ and each subsidiary is likely to be dyadic, taking place between various actors at many different organisationa level and covering different exchanges, the outcome of which is important for effective global performance. Such MNCs are loosely coupled political systems rather than tightly bonded homogenous, hierarchical systems. o One subsidiary may act as a nodal unit linking a cluster of satellite organisation. Thus one centre can assume responsibility for other units in its country or region. Keiretsu o It is a large often vertically integrated group of companies that cooperate and work closely with each other. o E. g. Mitsubishi o These companies are bound together by cross-ownership, longterm business dealings, interlocking directorates and social ties. †¢ †¢ Role of Human Resource – plays a key role in control and coordination process †¢ The key means for vital knowledge generation and diffusion is through personal contact. Organisation needs processes to facilitate contacts. †¢ Staffing decisions are very crucial. Very high importance should be given to communication and interpersonal relationship ability in selection process. †¢ Staff transfer †¢ Visit of the CEO to different countries. Compensation Management Factors Influencing Compensation Programmes †¢ †¢ †¢ †¢ †¢ †¢ Compensation decisions are strategic decisions and play a key role It should be consistent with overall strategy, structure and business needs of MNC It must attract and retain the best staff It must facilitate the transfer of international employees in a cost effective manner. It should give due consideration to equity and ease at administration. It requires the knowledge of employment and taxation laws, customs, cost of living index, environment and employment practices, the knowledge of labour markets and industry norms, foreign currency fluctuations. Paying Expatriates: unique problems †¢ Discrepancies in pay between PCN, HCN and TCN †¢ The need to vary expatriate compensation depending on the life cycle of the expatriate’s family †¢ Compensation issues related to re-entry into the parent country organisation Approaches to Expatriate’s Compensation †¢ Going Rate Approach o Base salary remains linked to the salary structure of the host country. o Required information is obtained through compensation surveys and published information. This approach is favoured by polycentric organisation o Advantage Equality with local nationals and expatriates of different nationals Simple approach Attract the nationals of PCN and TCN if location is a high-pay country o Disadvantage Transfer from a developed country to a developing country Fighting for getting

Thursday, March 19, 2020

24 Words Worth Borrowing From Other Languages

24 Words Worth Borrowing From Other Languages A few decades ago, Harold Rheingold set out to find words and phrases that, he says, may help us notice the cracks between our own worldview and those of others. According to Rheingold, Finding a name for something is a way of conjuring its existence. Its a way of making it possible for people to see a pattern where they didnt see anything before. He illustrates this thesis (a version of the controversial Sapir-Whorf hypothesis) in his book They Have a Word for It: A Lighthearted Lexicon of Untranslatable Words and Phrases (reprinted in 2000 by Sarabande Books). Drawing on more than 40 languages, Rheingold examined 150 interesting untranslatable words to borrow in order to help us notice the cracks between our own worldview and those of others. Here are 24 of Rheingolds imported words. Several of them (linked to entries in the Merriam-Webster Online Dictionary) have already begun migrating into English. Though its unlikely that all these words will add a new dimension to our lives, at least one or two should provoke a smile of recognition. attaccabottoni (Italian noun): a sad person who buttonholes people and tells long, pointless stories of misfortune (literally, a person who attacks your buttons).berrieh (Yiddish noun): an extraordinarily energetic and talented woman.cavoli riscaldati (Italian noun): an attempt to revive an old relationship (literally, reheated cabbage).Ã ©pater le bourgeois (French verb phrase): to deliberately shock people who have conventional values.farpotshket (Yiddish adjective): slang for something that is all fouled up, especially as the result of an attempt to fix it.fisselig (German adjective): flustered to the point of incompetence as a result of another persons supervision or nagging.fucha (Polish verb): to use company time and resources for your own end.haragei (Japanese noun): visceral, indirect, largely nonverbal communication (literally, belly performance).insaf (Indonesian adjective): socially and politically conscious.lagniappe (Louisiana French noun, from American Spanish): an ext ra or unexpected gift or benefit. lao (Chinese adjective): a respectful term of address for an older person.maya (Sanskrit noun): the mistaken belief that a symbol is the same as the reality it represents.mbuki-mvuki (Bantu verb): to shuck off clothes in order to dance.mokita (Kivila language of Papua New Guinea, noun): the truths of certain social situations that everybody knows but nobody talks about.ostranenie (Russian verb): make an audience see common things in an unfamiliar or strange way in order to enhance perception of the familiar.potlatch (Haida noun): the ceremonial act of gaining social respect by giving away wealth.sabsung (Thai verb): to slake an emotional or spiritual thirst; to be revitalized.schadenfreude (German noun): the pleasure that one feels as a result of someone elses misfortune.shibui (Japanese adjective): simple, subtle, and unobtrusive beauty.talanoa (Hindi noun): idle talk as a social adhesive. (See phatic communication.)tirare la carretta (Italian verb): to slog through dull and tedious everyday chores (literally, to pull the little cart). tsuris (Yiddish noun): grief and trouble, especially the kind that only a son or daughter can give.uff da (Norwegian exclamation): expression of sympathy, annoyance, or mild disappointment.weltschmerz (German noun): a gloomy, romanticized, world-weary sadness (literally world-grief).

Monday, March 2, 2020

Defective Verbs in Spanish

Defective Verbs in Spanish The term defective verb (verbo defectivo) is applied to at least three types of verbs in Spanish: 1. Verbs that logically are conjugated in the third person only. These verbs, sometimes known as impersonal verbs, are the verbs of weather and natural phenomena, such as amanecer (to dawn), anochecer (to get dark), helar (to freeze), granizar (to hail), llover (to rain), nevar (to snow), relampaguear (to flash lightning) and tronar (to thunder). Occasionally, you may see or hear these verbs used in a personal or figurative sense in other than the third person, although such usage is quite rare. If one were, for example, anthropomorphizing Mother Nature and she were speaking in the first person, it would be more common to use an expression such as hago nieve (literally, I make snow) rather than coining a first-person construction of nevar. 2. Verbs where certain forms of conjugation dont exist. Spanish has a handful of verbs that some authorities indicate dont exist in all conjugations, although there is no apparent logical reason why they wouldnt. The most common of these is abolir (to abolish), which some grammar guides and dictionaries say is conjugated only in forms where the suffix begins with -i. (The illegitimate forms include most present-tense conjugations and some commands.) Thus, for example, according to these authorities, abolimos (we abolish) is a legitimate conjugation, but abolo (I abolish) is not. These days, however, the full conjugation of abolir is recognized by the Royal Spanish Academy, so theres no real need to avoid using any particular conjugated form. Three other verbs that supposedly arent conjugated without endings beginning with -i are agredir (to attack), balbucir (to babble), and blandir (to brandish). Additionally, a handful of uncommon verbs are used rarely, if at all, in forms other than the infinitive and past participle; these include aterirse (to be freezing stiff), despavorir (to be terrified), desolar (to destroy) and empedernir (to petrify). Finally, soler (a verb that has no direct equivalent in English but is roughly translated as to be usually) is not conjugated in the conditional, future and (according to some authorities) preterite tenses. 3. Verbs such as gustar that frequently are used in the third person followed by the verbs subject and preceded by an object. Gustar is used in sentences such as me gustan las manzanas for I like apples; typically the word that is the subject in the English translation becomes the indirect object of the Spanish verb. Other verbs that are usually used in the same way include doler (to cause pain), encantar (to enchant), faltar (to be insufficient), importar (to matter), parecer (to seem), quedar (to remain) and sorprender (to surprise). These verbs arent true defective verbs, because they exist in all conjugations, even though they are most common in the third person. The way they are used also doesnt seem to be particularly unusual to native Spanish speakers; they tend initially to be confusing to English speakers learning Spanish because of the way they are translated.

Saturday, February 15, 2020

Personal Finance Concepts Statement Example | Topics and Well Written Essays - 500 words

Finance Concepts - Personal Statement Example Based on the list above, the transactions which would result in an increase in the total assets of a business are as follows:Based on the list above, the transactions which would result in an increase in the total assets of a business are as follows:ïÆ'Ëœ Transaction #1 – A company receives a cash investment from the owner. When a company receives an additional infusion of cash from the owner, the total asset specifically the asset account is increased.   This is accompanied by a corresponding augmentation in the stockholders’ or owners’ equity. Transaction #4 – A company purchases machinery for a plant and signs a promissory note in payment. This transaction will result in an increase in total assets due to the increase in the property, plant, and equipment (PP&E) account.   In this regard, the company’s liability will also increase due to the issuance of the promissory note which is tantamount to a promise to pay a specified amount at the sti pulated terms (Meigs & Meigs, 1986). Transaction #8 – A company borrows money from a bank.Similar to the initial transaction, the company’s total assets particularly the asset account increases as it receives the money loaned from the bank.   With this transaction, the company’s total liability also increases since an obligation to pay the bank loan arises. Note that the other transactions do not result in an increase in total assets due to the reasons summarized as follows: When a company makes the cash purchase for a building, there is no movement in total assets because the amount in cash account is just transferred to another asset account which is building or PP&E account.