Introduction to Management Essay

1. Introduction This report will discuss about company background, country background, SWOT analysis, Pest analysis, Porter’s analysis and give recommendations. At this report the brand chosen is Louis Vuitton. Louis Vuitton Mattenier also known as Louis Vuitton and shorten to LV. The Louis Vuitton label was founded by Vuitton in 1854 on Rue Nueve Des Capucines in Paris, France. As well as the headquarters its self which located in Paris. Louis Vuitton is French house fashion design at that time which becoming one of the world’s valuable brand with 40% profitable (Constant, 2012). 2. Company Background Louis Vuitton is one of the most valuable’s brand in its category which is Luxury in goods. Its products includes of leather goods, handbags, trunks, shoes, watches, jewelry and accessories. Most of people adorned with the LV monogram which designed by well known designer and easily noticeable with simple live style as the idea. Louis Vuitton with a brand Value of $28.4 Billions in USD with a sales of $9.4 Billions (Reuters, 2013). 3. Country Background Louis Vuitton headquarters is located in Paris, they had open many outlets all around the world and Singapore have 3 big outlets and the latest which located in Marina Bay Sands that open unique â€Å"island† store that will â€Å"float† on the water. Singapore it’s a developed country which also attract tourist from other countries to come to visit as a traveler as well as shopper. The three outlets can be found in Takashimaya, ION and Marina Bay sands. 4. SWOT Analysis Swot analysis are the shorten words of Strength, Weaknesses, Opportunities and Threats. SWOT analysis are mainly used for a company to build their outlets/factory in overseas to extend their products and profits. 4.1 Strength Brand Value ( the brand is one of the oldest fashion houses with more than 150 years) Easily recognizable (the logo and monogram)  The brand has it own outlets in most of the large shopping center. Well known Designer Custom Tailored available for elite customers 4.2 Weakness The Shops only available in exclusive stores making it difficult for developing countries The most expensive price compare to other competitors Rarely to give discounts to customers 4.3 Opportunities The company needs to make new current fashion trends Large market for luxury goods Celebrity attractions Synergy between brands/merger 4.4 Threats Financial crisis Competitors Increased market for counterfeit products Resources are decreasing 5. PEST analysis 5.1 Political and legal The anti-counterfeiting trade agreement (ACTA) aims to establish and international legal framework for targeting counterfeit goods. Where as in Singapore has become one of the biggest shopping country in Asia, furthermore Singapore is a Bureaucratic country and extremely centralized, with 17% corporate tax, less tax regimes; investors are not subject to  capital gains tax, dividend tax, and foreign exchange controls (Mehamer, 2013). On august 9 1965 Singapore became and independent nation and consistently increased their economy, by maintaining their productivity with a stable government and has severe laws in place and due to strict governance and associated fines less corruption, efficient and transparent government. Singapore has ranked the 1st in the global enabling trade index and 18 FTA with trading partners in their trade policy. 5.2 Economic Singapore itself have a strong economy statistics. It was recorded and the data shown as interest rate:0.2%, Growth rate; 6.90%, Jobless Rate 2.10% and GDP per Capita $37,293 (Mehamer, 2013). This massive record shows that Singapore have strong basis economy in their government. Louis Vuitton with a sales of 7.2 billions in 2012 were involved in Singapore Trade to GDP ratio of 270.8%, and high dependency on global market trends and fluctuations in macro economy. 5.3 Socio-Cultural Singapore citizen with excellent education and healthcare (Sirikan C, 2013). Literacy rate of 92.5% and a multitasking language where they lived as a multinational country that supports every citizens to speak 2 languages, as their mother tongue is Mandarin or English. A significant percentage of non-residents who lived in Singapore with a Gini coefficient index of 48.1 shows that Singaporean can easily adapt with foreign where the employee of the company can interact with customers behavior and promote their products relay on their cultures behavior and difference. 5.4 Technological In the last tens of years ago, technology in Singapore has a massive evolved of their needs. The growth of technology helps Louis Vuitton to communicate with their headquarters, due the change of currency, products release, transactions and supports more efficient. Furthermore it give a huge impact for both companies and countries to safe their times to manage their needs. Whereas Singapore had become a developed country the change of technology to renew their materials use its not problem for them to follow the world trade  business. 6. Porter’s Analysis Porter’s Five Forces Analysis 6.1 Threat of New Entrants LOW; Competitor : GUCCI, Yves Saint-Lauren, Channel, Bally. Jewelry; Montblanc, Bulgari, Cartier, Officine Panerai. Even though LVMH have a strong many competitors Luxury goods, LVMH offer a strong and unique in their products such as; high quality products, well service for every customers and brand value. Furthermore, LVMH has no worries with their competitors they have a loyal customers who always bought the products and advertise to their friends, longstanding commitment to quality and Investment required would be extremely large for those who do businesses. Besides that for a new goods brands wont give an impact to LVMH (Dang, 2013). 6.2 Bargaining Power’s of Suppliers LOW; For a big company LVMH have a Suppliers and subcontractors are required to comply with strict environmental guidelines. Where LVMH needs lots of materials they will have many offers which the company produce the materials with the lowest deals and highest quality needs (Dang, 2013). 6.3 Bargaining Powers of Customers LOW; With branded name and value customers had become the most loyal of companies buyers, from the experience that they ever had, has build the trust and set their mind become a loyal buyer. Fashion is a trend with a strong name LVMH has put their products into the top levels and Louis Vuitton products are never on sale. 6.4 Threats of Substitute Products LOW; High profile luxury goods LVMH brands have high quality products differentiations and believe. 6.5 Rivalry Among Competitors Moderate; In every company will always have their own competitors in this case LVMH are working in Luxury industries in a big scale to have an competitors will always be a positive things to brought new ideas and trends, in fact competitors do not sell exactly same products and different brand value (Dang, 2013). 7. Recommendations To make LV more appealing to the consumers, some products of the brand can be made available only in small quantities, by limiting its production of certain products from time to time, or producing special edition of the same handbag in different markets. LV product could become even more premium, Create products for collection of limited editions, expend the trend by increasing the popularity by adverstiment. Open their outlets store only in high end malls all around the world. To become more premium in their products LVMH may consider to concentrating its business model to production of leather goods only becoming specialist in their interest. 8. Conclusions Louis Vuitton is one of the leading fashion trends industries in the world which has significant every year. Louis Vuitton will always have their loyal customers where they bought their new products, with a strong brand value LVMH has no worries with their competitors. On the other hand due the change of time they have to consider with their resources that year by years will decreased their materials. Louis Vuitton shall put more concern on their weakness in both internal and external put them in the higher level of luxury goods market. They may consider to merge with other company in different products offer to increase and fasten their sales. Working in Luxury markets sales is stable jobs and it wasn’t easy but they have to stable their sales and increase the value to become a premium brand Reference List Constant, J. (2012, 11 02). lvmh. Retrieved 01 14, 2014, from Louis Vuitton: http://www.lvmh.com/investor-relations/lvmh-at-a-glance/executive-committee/ Reuters, T. (2013, 11 02). World’s Most Valueable Brands. Retrieved 01 14, 2014, from Forbes: http://www.forbes.com/companies/louis-vuitton/ Mehamer, C. (2013, 09 13). http://prezi.com/bin1bd1_2zt1/pest-analysis. Retrieved 01 29, 2014, from http://prezi.com/bin1bd1_2zt1/pest-analysis Sirikan C, r. (2013, 07 28). A Cultural & Economic Analysis of Singapore for making Market Entry Decisions. Retrieved 01 29, 2014, from Slide Share: http://www.slideshare.net/SrikiranCRai1/a-cultural-economic-analysis-of-singapore-for-making-market-entry-decisions Dang, A. W. (2013, 01 23). Louis Vuttion Moet Hennessy Presentation. Retrieved 01 29, 2014, from SlideShare: http://www.slideshare.net/mraldang/louis-vuttion-moet-henness

George Orwell s Animal Farm - 1090 Words

Omar El Fallah Rj Syed Per.4 Vreeland We Must Stop Corruption! â€Å"It’s always tough being the fat kid in school, it must be extra tough being the only fat kid in you entire country.† This is a quote about Kim Jong-Un who is notorious for being one of the most corrupted dictators ever. The reason he is corrupt is one simple word: power. The importance of our argument is that power corrupts those who posses it. There are corrupt people in this world who will do anything to gain power. This argument is based upon the themes represented in Animal Farm, created by George Orwell, it is an allegorical, satirical, dystopian novel. Power corrupts those who possess it because it leads to a destroyed society and an oppressive dictatorship, and much†¦show more content†¦Believe it or not to many people over the world this sounds very familiar and normal. This evidence supports my claim because it is a clear reason of power corrupting people at its best, and not only that but it is happening in lots of places all over the world. In addition to this, our net follow-up reason of why power corrupts people those possess, â€Å"it can create a dictator and diminish that society†. Power corrupts because it allows those who are using it to create a dictatorship and they can even end up diminishing their society if their power is not checked soon enough. Kim Jong-Un believes he is allowed to do each and everything he wants because he wields too much power. â€Å"In 2012, Kim Jong-Un executed his uncle simply because he had the power to do so, even though most people consider the murder of a family member an unethical act†(NBC News). Not only did he do this but he also did this, â€Å"he executed his chief of defense because the chief fell asleep at an event, a recent extension to the many random executions he has ordered in his reign so far†(Cable News Network). One other example about this would be in Russia. â€Å"Russia had the most crime rate of sixty-four percent, corrupt leaders of sixty-one percent and still no change of progression whatsoever†(Pew Research Center), and also â€Å"Russia has been classified the highest rank in poor q uality at schools†(Russia Beyond The Headlines). These simple facts and statistics (evidence) supports our reasonsShow MoreRelatedGeorge Orwell s Animal Farm958 Words   |  4 PagesImagine that you were an animal s or citizen living under Napoleon or Stalin rule and the fear that your life can be taken always from you at any time. In the novel of Animal Farm, George Orwell he wanted to show how a book is a sarcasm of the Russian Revolution during the communist years and the satire of that time between Trotsky and Stalin. Where Orwell chose to create his character base of the common people of Russia at the time of the Revolution. Animal Farm is a social or allegory about NapoleonRead MoreGeorge Orwell s Animal Farm1361 Words   |  6 Pagesfarmer, but of late he had fallen on evil days†(Orwell 38). In Animal Farm George Orwell describes life for the animals on a farm in the english countryside during the mid to early 20th century before, during and after a revolution a gainst their master Mr.Jones in order to represent the russian revolution and describe to people throughout the free world how leaders in both capitalist and communist societies oppress the working class as a result Orwell s tone throughout the novel is concerned. TsarRead MoreGeorge Orwell s Animal Farm1392 Words   |  6 Pages George Orwell Never Misuses Words In what was a vastly controversial novel published in 1945, George Orwell’s Animal Farm describes the horrific brand of communism in the Soviet Union and the conscious blindness that most of the West accepted at that time. Although Orwell labeled Animal Farm as a fairy tale, this historically parallel novel branches into the genres of political satire, fable, and allegory as well. What made Animal Farm so controversial among the â€Å"British socialists† and WesternRead MoreGeorge Orwell s Animal Farm1395 Words   |  6 PagesGeorge Orwell’s Animal Farm: The Power of Corruption In George Orwell’s Animal Farm, Orwell illustrates how power corrupts absolutely and how Napoleon degrades the structure and stability of Animal Farm because of the decisions that he makes. I will also expand on the idea of how Old Major’s ideas for an organized society get completely destroyed by Napoleon’s revolutionary actions. It was ironic and satirical that Napoleon’s own power annihilates Animal Farm. The satire in George Orwell’s AnimalRead MoreGeorge Orwell s Animal Farm922 Words   |  4 Pages In the novel Animal Farm, by George Orwell, the wisest boar of the farm, Old Major, mimics Karl Marx, the â€Å"Father of Communism,† and Vladimir Lenin, a Russian communist revolutionary. George Orwell introduces direct parallels between the respected figures through their mutual ideas of equality and profoundly appreciated qualities. Furthermore, his utilization of dialect and descriptions represent the key ideas of the novel. Throughout the novel, Orwell continues to show comparisons betweenRead MoreGeorge Orwell s Animal Farm1463 Words   |  6 Pagesbut of late he had fallen on evil days†(Orwell 38). 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People with little intelligence, but lots of confidence are more likely to have someRead MoreGeorge Orwell s Animal Farm1449 Words   |  6 Pagesconcept that the animals in George Orwell’s novel Animal Farm crave. The animals of Animal Farm want freedom from their â€Å"dictator† Farmer Jones and the rest of humanity. Their problem is that Farmer Jones and humanity are still in power. With the bravery of two pigs, Napoleon and Snowball, the animals overthrow their human oppressors and free themselves from humanity. With his new freedom Napoleon craves power and expels Snowball. He becomes the dictator of Animal Farm and makes the farm a place whereRead MoreGeorge Orwell s Animal Farm1360 Words   |  6 Pagesquestion minus the answer.† In George Orwell’s â€Å"Animal Farm†, the author raises the question whether the type of government, communism, is feasible in a community without leading to a type of dictatorship or totalitarianism. Orwell presents the idea that communism is a good idea in theory, but it always leads to corruption by the people who take power. The author presents the novel as an entertaining fable featuring an animal revolution; however, beneath this storyline Orwell utilizes literary devicesRead MoreGeorge Orwell s Animal Farm1403 Words   |  6 PagesGeorge Orwell believes â€Å"What you get over and over again is a movement of the proletaria t which is promptly characterized and betrayed by astute people at the top and then the growth of a new governing class. The one thing that never arrives is equality† (Letemendia 1). Orwell simply loathes revolution and thinks it is unfair to the majority, for the people. He thinks that while individuals change, the people in power are always corrupt and they will corrupt any attempt at change. He communicates

Pressure Ulcers As An Area Of Skin And The Tissues

â€Å"Pressure ulcers are caused when an area of skin and the tissues below are damaged as a result of being placed under pressure sufficient to impair its blood supply.† as defined by the National Institute for Health and Care Excellence (as cited in Payne, 2016, p. 12). I had never really known much about pressure ulcers before nursing. The frequency to which pressure ulcers can occur, and the level of severity they can develop was shocking to me. This is the main reason this topic interested me. The article â€Å"Strategies to support prevention, identification and management of pressure ulcers in the community† by Drew Payne, focuses on community nursing and provides information on how to identify patients at risk, on pressure ulcer†¦show more content†¦These factors include, but are not limited to: patients with prior pressure ulcer history, patients with reduced mobility, patients using wrong clinical equipment, patients with improper furniture, or patie nts living environments. Since community nurses are not with their patients all day, they must consider all risks that could arise throughout the patient’s day. It is important to gather this information in making individually tailored pressure ulcer prevention strategies. Some important areas to consider when creating the prevention measures are: encouraging movement, repositioning, nutrition (underweight patients are more at risk for pressure ulcers), and all external factors that may increase risk such as clinical equipment or even clothing. However, for the patient to truly involve themselves in preventing pressure ulcers, they must receive proper patient education. They must understand what pressure ulcers are, why they should be prevented, and exactly how to prevent them. It is also important to have the family or any other caregivers involved, by giving them all the same information and having them fully engaged with the prevention strategies. Other health care profess ionals involved in the patient’s life, like nutritionists or physiotherapists, should be adequately informed about pressure ulcers to minimize any risks. It is also important to assess the correct equipmentShow MoreRelatedSymptoms And Treatment Of A Pressure Ulcer1552 Words   |  7 PagesA pressure ulcer is defined as â€Å"a localized injury to the skin and/or underlying tissue, usually over a bony prominence, as a result of pressure, or pressure in combination with shear,† according to the National Pressure Ulcer Advisory Panel, abbreviated NPAUP (2007). NPUAP (2007) redefined the definition and classification of a pressure ulcer in 2007. As a result of the modification, stages I-IV, the four original stages, underwent alterations to their existing classifications and definitions. InRead MoreDecubitus Ulcers Essay example638 Words   |  3 Pagesof ongoing abuse and neglect include decubitus ulcers also known as bed sores. 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The education and prevention of pressure ulcers shouldRead MoreEs say on Unit 229 Workbook Pressure Sores928 Words   |  4 PagesUnit 4222-229 Undertake agreed pressure area care Unit 4222-229 Undertake agreed pressure area care Outcome 1 Understand the anatomy and physiology of the skin in relation to pressure area care The learner can: 1. describe the anatomy and physiology of the skin in relation to skin breakdown and the development of pressure sores Skin is the largest organ of the body, covering and protecting the entire surface of the body. The total surface area of skin is around 3000 sq inches or roughlyRead MoreRoper-Logan-Tierney Care Plan1646 Words   |  7 PagesA pressure ulcers is ‘ a localised area of cellular damage resulting from direct pressure on the skin causing ischawmia, or from shearing or friction forces causing mechanical stress on the tissues’ (Chapman and Chapman 1981). 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Financial Ratio Analysis Victoria s Secret - 1706 Words

Financial Ratio Analysis In review of Victoria’s Secret’s financial ratios, it can be concluded that they are capable of fulfilling consumer demands and maintain financial stability. Liquidity Measures ratios advocates that Victoria’s Secret is also capable of sufficiently paying for its liabilities as well as invest assets in a tactical way. Net Working Capital to Total Assets show that Victoria’s Secret is able to turn assets and cover their short term liabilities efficiently. Fixed Asset Turnover for Victoria Secret indicates that they know how to use their fixed assets effectively towards its sales revenues. They have the capability to generate $4 to $5 of sales for every $1 that is invested into the fixed assets. Debt/ leverage†¦show more content†¦Furthermore, market segmentation is an extension of market research for the purposes of identifying targeted groups of consumers in order to tailor products and branding in a way that it is attrac tive to that group. There are three general criteria used to identify different market segments: homogeneity, distinction and reaction (Investopedia, n.d). Victoria’s Secret have focused on important segmentations such as women from the ages of 18-34 yrs. who are looking to feel confident and sexy and men who shop for their wife or girlfriend in hopes to promote confidence and fun fantasy as the market segments for lingerie and undergarments would be the best to effectively target the ideal consumer for this product. Noting that the average age of consumers is between the ages of 18 – 34 yrs. among middle class women. Industry information gathered also revealed that 61% of consumers are female and 39% are male who generate 46% of sales in bras and 22% in panties. Financial Analysis 8 Segments that are vital to Victoria’s Secret success are the VS stores and direct sales which includes the online Victoria’s Secret website. 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Global Crisis, Recession Uneven Recovery Free Essays

string(65) " architecture comprising of the World Bank, the IMF and the WTO\." Global Crisis, Recession and Uneven Recovery by Y. V. Reddy Book Review by Nidhi Choudhari There is enough on this earth to meet the needs of all, but not the greed of all. We will write a custom essay sample on Global Crisis, Recession Uneven Recovery or any similar topic only for you Order Now Mahatma Gandhi Why I picked up Y. V. Reddy’s Book There have been a large number of books published on current global financial crisis therefore; selection of this particular book on the subject requires some reasoning. First, there are not many books written by central bankers on the topic. Central banks have been central in the management of the crisis and therefore, Dr Reddy’s book provides a central banker’s assessment of the crisis and its impact. Second, on personal level, I have worked in RBI between September 2006 and December 2011 and was witness to the measures taken by Reserve Bank before and during the crisis under the able leadership of Dr Y. V. Reddy, the Governor, Reserve Bank of India (2003-2008). Having worked under his visionary leadership, I opted to take his book, â€Å"Global Crisis, Recession and Uneven Recovery† for review. Third, Dr Reddy led the course of financial pragmatism in times of relentless deregulation and ensured that Indian financial system does not fall into the blind race to bottom in regulation. Finally, having read Dr Reddy’s previous book on the topic viz. â€Å"India and the Global Financial Crisis: Managing Money and Finance†, I was very keen on reading its sequel viz. â€Å"Global Crisis, Recession and Uneven Recovery†. For all these reasons, I selected this book and am thankful to Madam Nidhi Sharma for approving this book for review. The reviewed book is a collection of 27 speeches (given in the form of 27 chapters in 5 parts), Dr Reddy delivered at different points of time during and after the crisis. These chapters give a deeper insight into the actions taken by the RBI to mitigate the impact of the crisis in India and how India remained largely unaffected due to adequate regulatory mechanisms. Dr Reddy has also been a member of the Commission of Experts of The President of the UN General Assembly on Reforms of The International Monetary and Financial System popularly known as Stiglitz Commission after its chairman Joseph Stiglitz. He has given several references about the recommendations of this UN Commission in the book. The 19th Chapter in the book is about the UN Commission recommendations about global crisis. Hence, the reader of the book gets an understanding of the global thinking on the crisis and its after effects. What’s there in the Book Economists have compared the current global financial crisis to that of the Great Recession of 1930s. The current crisis has in fact, affected all countries across the world in different degrees and that way, it was truly a global recession. Today, the crisis is over however the recovery has started at different paces in different places. Dr Reddy is of the view that the recovery from the global crisis is going to be prolonged and uneven. The book â€Å"Global Crisis, Recession and Uneven Recovery† provides an experienced policymaker’s understanding of the genesis, progression and impact of the financial crisis, and of the lessons it offered. It is written at a time when Indian economy is facing several challenges in terms of slowdown in growth rate, inflation, ballooning fiscal and current account deficit etc. The book contains Dr Reddy’s perspective and analysis of the crisis, recession and recovery in a simple, lucid and non-technical manner which appeals the reader. There are five sections in the book containing 27 chapters in all. The five sections relate to the global financial crisis and its aftermath, financial sector: retrospect and prospects, public policy: challenges and responses, global financial architecture: the debates and India: performance and prospects respectively. The first section of the book gives a lucid account of the financial crisis and its consequences in six chapters. In the first chapter, Dr Reddy talks about the role played by central banks before, during and after the crisis. He writes that the accountability in regard to management of the crisis of the crisis will have to be shared between the central bank, the Ministry of Finance and, to some extent, the government as a whole. The author writes about the consequences of the crisis viz. rebalancing of power between the regulator and the regulated, shift in balance of in favour of Asia, rise of G-20 on the global platform and a cautious approach towards self-correcting efficiency of markets etc. Explanations with regard to the causes of the global financial crisis and an overview of the prolonged extensive excesses that acted synchronically to cause the global crisis are discussed in detail. The second section of the book focuses on the future of the financial sector with some cautious remarks about uncertain recovery and prospects for the futures. The author highlights the role of financial regulation in developing countries. Dr Reddy writes that â€Å"the causes and crossborder transmission of the crisis may differ significantly between the advanced as well as between the developing economies. There is a detailed chapter on countercyclical policies adopted by the RBI in the financial sector and also on the proposals for financial sector regulatory reforms from the perspective of developing countries. He discusses the future of globalisation of finance and the global regulation of the financial sector. The last chapter of this section provides a broad framework for global financial regulation. The third section deals with the public policy challenges and responses that emerged during the current global crisis. He has discussed the feasibility of Tobin Tax and Financial Sector Taxation in light of current crisis. Dr Reddy has also thrown light on the developmental dimension of the financial sector, fiscal implications of the global crisis and macroeconomic frameworks that are emerging for ensuring overall global financial stability. The forth section raises a very important concern of modern times i. e. reform of global financial architecture comprising of the World Bank, the IMF and the WTO. You read "Global Crisis, Recession Uneven Recovery" in category "Papers" In this section, Dr Reddy has discussed the recommendations of the UN Commission on the global crisis. He has also analysed the G-20 framework and its future prospects. Finally the book focuses on India’s performance and prospects; India’s experience in regulating the financial sector; and the need for reform in India’s financial sector. The author also compares Indian situation with that of Asia and the global economy in terms of resilience and recovery after the crisis. The last chapter in concluding section draws attention to the exit strategies being considered at the global as well as national level by the authorities to revert back to normality. Take Away from the Book As the book is entitled â€Å"Global Crisis, Recession and Uneven Recovery†, the biggest take away after reading of the book would be a clear and better understanding of these three terms viz. (1) Global Crisis, (2) Recession and (3) Uneven Recovery. I personally would like to share my understanding of these three aspects in greater detail with the help of excerpts from the book in the following points: Global Crisis: Reasons, Consequences and Lessons Learnt Several reasons have been cited for the recent crisis viz. ailure of state, market, governance, intellect and morality. Dr Reddy writes, â€Å"The current global crisis originated in multiple causes that reinforced each other. Extensive excesses on several fronts, which occurred in a synchronised fashion, precipitated the crisis. These excesses were observed in liquidity, macroeconomic imbalances, focus on inflation, inequalities, financialisation, leverage, risk-taking, deregulation, financial inn ovation, networking, greed, globalisation and concentration. 1 While discussing the moral aspect of global crisis, Dr Reddy writes, â€Å"†¦ the large sections of society favoured individualism, narrowly emphasising value for money as consumers and returns on money as investors over other aspects of social behaviour, such as being good citizen or extending corporate loyalty to the institution. †2 Dr Reddy discusses the race to bottom in regulation of financial sector as one of the most crucial reason for the global financial crisis. He writes, â€Å"†¦the excesses in financial sector occurred under a benign public policy that believed the costs of regulation to be greater than its benefits†¦ Even the existing regulation was stymied by excessive innovations in finance that aimed to avoid the prescribed regulatory capital, and injected complexity to undermine the rules of transparency prescribed by regulators. †3 As far as consequences of the crisis are concerned, Dr Reddy is of the view that the current crisis will result in rebalancing of ideological, institutional and operational functioning of states and 1 2 Page 46, Chapter 3 Page 43, Chapter 2 3 Page 59, Chapter 4 markets. He writes, â€Å"â€Å"In recent years, there has been an almost irrefutable presumption in favour of markets and this may be replaced with a refutable presumption in favour of the markets. †4 As a result of the crisis, the irrefutable support for unfettered markets stands discredited and so also the belief that the growth of the financial sector leads to economic development. Also, the crisis has added to the objectives of central banks an additional responsibility i. e. inancial stability. The RBI has also taken it to its objectives alongwith growth and price stability. The author calls for redefining the core banking and recommends treatment of commercial banking as a public utility. He writes, â€Å"†¦universal banking will be de-emphasised and narrow banking, in the sense of banks concentrating on core commercial banking or deposits and lending will be emphasised†¦ In brief, commercial banking is likely to be closer to a public utility than before, and hence subject to regulations akin to public utilities. 5 He further stresses, â€Å"It should be recognised that there will be no banks if there are no depositors. †6 As regards lessons from the crisis, Dr Reddy suggests that â€Å"†¦improving transparency and regulatory oversight of hedge funds, credit rating agencies and over-the-counter (OTC) derivatives should become a priority in the light of the experience from the crisis. †7 Interestingly, the author suggests in the light of observations of the Warwick Commission Report that the scope for and desirability of an ‘unlevelled’ playing field as an instrument of financial sector regulation ought to be explored. As a thinker and an oracle who sees the future of financial sector with great precision, he writes, â€Å"†¦the crisis is global; actions are national; benefits could be selective or universal; but burdens in the future may ha ve to be largely borne by the masses who bear no responsibility for the crisis, and those who did not benefit materially from the events that led the crisis. †9 Recession In Chapter 6, the author discusses the Great Recession of 2009 in detail and thereafter as per the demand of the subject. He clarifies the concepts of depression, recession and slowdown. A slowdown is a clear fall in the growth of an economy. It is usually a short-term phenomenon lasting say a quarter or a year. The author defines slowdown as a drop in the growth rate by one percentage point. To him, recession refers to a sustained decline in the overall economic activity for a period of more than one year. Depression lasts longer than recession and refers to a longer and larger decline in business activity, mainly reflected in huge drop in output and unemployment. 4 5 Page 28, Chapter 1 Page 78, Chapter 5 6 Page 217, Chapter 14 7 Page 172, Chapter 12 8 Page 157, Chapter 10 9 Page 63, Chapter 4 Uneven Recovery If the Great Recession was uneven, so is the recovery. 10 Dr Reddy discusses several responses to the crisis at different points in several chapters. He writes in Chapter 4, â€Å"Initially, the response of monetary authorities, followed by fiscal measures, was confined to the US, UK, Switzerland, other European countries, and Japan, but it was soon realised that it was necessary to involve other countries as well in globally coordinated actions. The author has discussed five possible patterns that could be followed by the countries in their course of recovery. The highly resilient economies may observe rapid recovery from the crisis while less resilient economies would require a longer time to adjust to the new realities and ensure real recovery. Some economies may suffer from double dip recession before complete recovery while some other c ountries may prefer taking structural measures over a prolonged period thereby opting for a slow but positive recovery after recession. Some countries may register a low level of economic activity for a prolonged period and therefore suffer from recession for a much longer period than the rest of the world. Critique of the Book I consider myself too small to write a critique of the book written by Y. V. Reddy; however, as a reader of global crisis literature I have observed a few points which I will share with the readers of this book review. This book being written by a Central Banker is largely concerned with central bank’s role in dealing with such crisis and redefining of the role of central banks in the wake of need for financial stability. In this pursuit, the role of government in dealing with such crisis has been ignored to some extent. Similarly, the book was published in the year 2011 when a number of countries in Europe were facing sovereign debt crisis however, only a passing reference is made to such an important global event which has pushed many countries in double dip recession. Apart from this, the book is worth reading by all economics lovers and also all policy makers as it gives a deeper insight into the global crisis, recession and recovery. To sum up, I would prefer to quote Sir Howard Davies, Director London School of Economics who applauds the book in the following words, â€Å"Dr Reddy’s (book) fills an important gap†¦ He has lived at the heart of financial system and understands its strengths and weaknesses†¦ His analysis of the problems of the global financial architecture is particularly acute. † 10 Page 93, Chapter 6 How to cite Global Crisis, Recession Uneven Recovery, Papers

Women in Architecture free essay sample

A look at womens position in this industry. This paper presents a detailed examination of women in the field of architecture. The writer uses history and current events to depict the trends of females in architecture and looks at various aspects including promotion, acceptance and growth for women in the field. From the paper: A young woman is interested in architecture. She has heard things about architecture that makes it seem like it is a perfect career for her. But others say, Women are too pretty. They just cant grasp the bigger picture. Theyre fine for other professions, but not for architecture This has been the attitude among males in the profession for the past thirty years. The overwhelmingly male profession was and is still not making women feel wanted, welcome, or even competent. If men have the qualifications of which architects are made, then women have it too. We will write a custom essay sample on Women in Architecture or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page There are many fine male architects, but there are also some mediocre ones. Women have the right and now have the opportunities to get the education, and succeed in this profession.

Effective Performance Management

Performance management includes the steps, measures or actions taken to ensure goals are accomplished or targets are met in an organization, institution, a group etc. it may also include the process of building a product or a service. Performance management when carried out appropriately helps employees know that their efforts are recognized and acknowledged (Neal, 2002).Advertising We will write a custom report sample on Effective Performance Management specifically for you for only $16.05 $11/page Learn More Performance management is a continuous process of interaction and discussion between the management or supervisor and the employees. It is a continuous communication process, which includes identifying and setting targets/goals, obtaining feedback and evaluating the results. Effective Performance management Effective performance management requires that a foundation be set to reward good work and motivation to the employees or workers. This can be done through: Explaining the link or rather the connection between individual employee works efforts with the institution or organization’s objectives – The employees should understand how each person’s input contributes to the organization’s wellbeing. Focusing on setting very clear targets – Targets are the performance expectations. Targets help employees get to know what is actually expected of them and work towards it (Mannix, 2005). Apart from the laid down performance expectations, the employees should be encouraged to set targets for themselves. Personal targets would ensure eventual attainment of the company’s target. Setting performance dimensions, setting work standards and use of objectives – This provides the organization or department have a concrete rationale on what needs to be done and what needs to be done away with. This provides a useful platform for the elimination of the non-important segments of work and helps m aintain focus on the essential parts. Regular updates and discussions – This includes regular performance assessment discussions in order to identify shortcomings or problem earlier enough and devise ways of alleviating them. This may include changing the course of an operation just to avoid an indicated future problem. Coming up with an effective management procedure is quite demanding in terms of time and the workers – It is also a motivator, helps the organization set goals and employees abilities be recognized in relation to their target attainment. Steps to successful performance management Planning Drawing a plan is very important since a plan works as the guideline and the basis of operation. Planning should be based on performance expectations, which entail results plus actions (Dick, 1992). A plan should also be written and verifiable. The written plan should be understood mutually by the employees. Performance expectations Results are calculated with the use of objectives, standards and targets. Actions are often measured by means of performance dimensions. In order to perform, employees have to understand what the expectations are. They need to have an up-to date description on the job. A good job description describes the responsibilities, tasks and essential duties. The knowledge and skill requirements of the job should also be well illustrated on the job description (McCuiston, 2004). Expected performance must go beyond the description of the job. A high quality job performance is based on the range of expected outcomes and assessment of issues such as:Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The goods and services to provide Impact of the job on the overall organization How the employee is likely to interact and fit in with colleagues, the management or even clients. The organizational values that the employee has to exhibit Mea ns, procedures or processes the employee is expected to use in the job When focusing on performance expectations, the employee needs to know the reason for the existence of the job and know how or where the job fits in the organization. In addition, the employee needs to understand the link between the job responsibilities to the organizational mission and objectives. Performance expectations act as the basis for communicating performance. They form the basis for assessing the performance of individual employees. An employer or a supervisor, being in charge of clear objectives and expectations that have to be attained, decides on ways to achieve success. Written and verifiable expectations A written plan Serves as a basis for communicating on performance expectations Helps employees know and understand the accepted and non-accepted outcomes. Enables the employees to assess and know when they have performed what others were expecting of them. When employees discover that they have performed according to expectations, they become satisfied and even draw self-inspiration. Enables the new employees know or rather understand and internalize what is expected of them. The new employees get informed about performance expectations. A plan puts everything in the open thus encouraging an open relationship between the management and the employees. Putting expectations in writing A well-written summary of a planning discussion during the planning process provides an essential record of the mutual understanding and agreement on the expectations (Ely, 2001). Putting in writing, the expectations i.e. the expected targets/ objectives, the expected actions is important in: Allocation of resources Budget discussions Program prioritization Mutually written expectations also aid in focusing feedback and minimizing complications when it comes to the time of result and performance analysis. Verification of performance expectation Performance expectations should be able to be ve rified. Early in the performance management cycle-plan the employee together with the contributions of the management should be able to point out on how and where the indicators of employee performance will be obtained. The quantifiable expectations are the easiest to assess. However, most of the time expectations are not easily measurable. These are known as the qualitative expectations, which can basically be made verifiable through stating the criteria to be followed, behaviors to b displayed plus the target dates to meet. It is important to find out how performance will be verified at the time when assigning the various responsibilities. This assists the employees to keep track of their performance and make consultations when necessary.Advertising We will write a custom report sample on Effective Performance Management specifically for you for only $16.05 $11/page Learn More Ways of verifying performance Performance can be verified in many ways. Som e of the commonly applied ways include: Using specific and observable job products – This implies the tangible features, which can be easily reviewed without the employee necessarily being present. Use of Reports and records – Records such as attendance records, safety records, financial records and inventories are essential indicators of employee performance. Through direct observation of an employee performance Using a rating scale – This is a scale that defines behaviors at various performance levels. The rate scale measures what is called the behaviorally anchored rating scales. Critical comments or commendations received on the employee’s performance. The commendations or comments could be obtained from clients or even colleagues. Making use of direct observations – This is particularly possible in jobs with built-in feedbacks. Check-In: Providing Observation and Feedback After the performance targets and objectives are set, it is important to observe an employee’s performance and have regular check-ins. The check-ins is meant to provide feedback and it is upon the employer or the management to inoculate pleasant performance into an employee. Some jobs have built in feedbacks, such as an electrician repairing a switch and the switch working. This type of feedback is immediate and hence is very effective. As a manager, one gives informal feedback very frequently. By providing and observing detailed feedback, the management plays a very essential role in developing the employee and assisting in assuring continued success in achieving the performance expectations. Coaching This is a method of communication with an employee stronger. Coaching is essentially used during check-in sessions. These are the sessions to discuss with the employers not only the performance expectations but also on how to achieve the expectations in line with the organization’s mission (Bacal, 2002). Coaching aids in shaping performanc e and it also increases the likelihood of an employee meeting the set targets or rather the set performance expectations. Assessment Assessment is the final phase of the performance management cycle. Assessment provides a very important opportunity for the management to discuss or rather exchange with the employee about previous performance, assess the employee’s morale, and draw plans for the worker’s future performance targets and expectations (Zaffron, 2009).Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More It is always strongly suggested that employees should be assessed on annual basis but it is rather important to assess employees more frequently. In this way, it is easier to monitor progress and even acknowledge performance. Round the office management This is management focused mainly in the operations within the office. It focuses on activities and functioning of an office. Office management covers such areas as work manuals, work rules, hours of work, attendance and personnel files. All these should be handled appropriately and cautiously (Austin, 2000). Delegation This is a way of consistently providing directions and careful instructions to the workers. When work is delegated appropriately, the staff is able to learn new skills and expertise, which would help them be more productive and be self-reliant. As a supervisor, one has to assess the employee’s abilities to complete and accept duties assigned to them. Managing employee reorganizations Reorganization refers to ch anges, which occur in an organization’s staffing, programs and resources. How to manage reorganization Identify the problem. Examine the existing jobs and structures and determine whether they satisfy departmental goals. Setting up ways and means for collecting input from staff.: These include Doing verbal, written, or even computer surveys Establishing problem-solving teams Setting up review committees Interaction in the Workplace Diversity in the Workplace Workforce diversity implies the inclusion of individuals of all walks of life into the workforce (Daniels, 2004). It also acknowledges that people vary in abilities, gender, socio-cultural, age and even experiences. The current political, social and economical events induce managers, entrepreneurs and politicians to regard diversity management as a priority of their agenda. Also apart from ensuring complete exploitation of employee abilities, proper diversity management can contribute organizational achievement throug h enabling access to a dynamic market Communication Communication is an essential tool used in performance management. Good communication can help an organization: Improve relationships and also instill teamwork. Communication helps conjugate staff and ensures smooth flow of information in the work place. To develop and improve performance and output Ensures an open and creative environment, information sharing enhances creativity since the staff obtain variety of information from colleagues and also from the employer or management. To solve its problems effectively and efficiently Managing Conflict Conflicts Conflicts are basically disagreements. In conflicts, no party is wrong. In addition, in place, different groups or persons collide and this brings about disagreement (Routledge, 2009). In most conflicts, neither party is right or wrong; instead, different perceptions collide to create disagreement. Conflict is always there, it is a natural occurrence and it is up to you to st and up against conflicts professionally in order to arrive at solutions. The outcome a conflict solving process depends on the approach. A conflict can turn out as very positive if handled positively and openly. Problem correction is a way of strengthening the work unit. A conflict in views can at times be very resourceful. It gives someone an opportunity to learn about self, learn how to explore other people’s views and even promotes productive and healthy relationships. Resolving Conflict Situations In order to manage a conflict professionally one must have adequate skills in communication (Nemeth, 2011). This can be achieved through creation of an open environment whereby everyone is free to air their views, talk about experiences and also state any difficulty they might be facing in executing their duties. It is important to listen to the employees’ views (Tally, 2000). It is also necessary to create an open environment whereby one feels free to air views without f ear of victimization of any sort. It is important to understand their plights and grievances and also to ask questions concerning their raised concerns. When faced with employees who find it diffi9cult to resolve their own conflicts: First, acknowledge that a problem exists and a solution is vital. Inform yourself with the problem; get to know the root cause. Get to know the emotions or feelings behind the conflict since some conflicts are based on emotions and feelings such as anger. Ensure that the feelings are expressed and acknowledge them. Single out the problem. Learn the negative impact of the conflict on the job or on the said parties’ relationships, meet with the parties or rather employees differently at first and listen to each of their statements separately. Identify the crucial need. First, look for needs before looking into solutions. Starting with the need is a powerful tool in conflict resolution. Finally resolve to a solution that either the colliding partie s or persons can live with. In most cases, it is not a matter of deciding on who is wrong and who is right. Find the common areas of agreement. Do follow up. This involves monitoring the proceedings for a period of time. Scheduling a meeting with the conflicting parties say after about two weeks to determine how the parties are faring is very necessary. Decide on the next cause of action if the problem still lies unresolved. If the existence of the conflict is detrimental to the operations of the department or organization then it is important that solutions be sought elsewhere. An external facilitator such as the staff ombudsman may be important at this stage. Conflict resolution may sometimes even involve performance appraisals, may become a coaching topic or subject to disciplinary action. Most conflicts however always are as a result of anger. One very effective method of defusing anger is through effective listening (Coens, 2002). When anger is directed towards oneself, it is always difficult to respond definitively and decisively simply because one’s emotions are always involved. Sexual harassment Sexual harassment is another form or rather cause of conflict at the workplace. Preventing Sexual Harassment In order to effectively curb sexual harassment, there are a number of points to note. Always monitor and be on the lookout for any forms of sexual harassment at the workplace. Watch out for any unbecoming behaviors that may tend towards sexual harassment. Bring up the subject of sexual harassment at the organizational meetings or any other forms of staff meetings and express dire consequences and disapproval for the offence. Inform every one of the organization’s policies and stands on the issue of sexual harassment. Communicate and distribute harassment policy and complaint resolution processes to all the employees. Let everyone know which behaviors amount to sexual harassment. You may post the official sexual harassment brochure for the entire organization to read and acquaint themselves with the policies. Performance management cycles This refers to any systematic approach to performance management. This basically involves the use of relevant measures and indications, regularly monitoring procedures to isolate and identify achievements and using the information obtained to rectify or modify plans (Shen et al., 2009). Performance management cycle is represented in four stages. Planning entails identifying the performance required and ways of scaling or measuring achievement. Doing involves encouraging performance and ensuring that the performance is to the required standard. Support and development are also provided. Conclusion Managing performance or managing employees ensures effective delivery and attainment of a company or organization’s visions (Aubrey, 1999). There is always a direct correlation between having a functional performance management system and improved business or organizational results. The results are obtained in the form of: direct financial gains, motivated workforce and improved management control. According to the U.S. Office of Personnel Management indicates that Performance Management is a system or process whereby: Performance Expectations are set and there is effective planning of work Monitoring is done on all the aspects of work There is development and enhancement of Staff ability. There is rating and summarization of performance. Rewards are given to the top performers. References Aubrey, C 1999, Bringing out the Best in People, McGraw-Hill, New York. Austin, J Carr, J 2000, Handbook of Applied Behavior Analysis, Context Press, New York. Bacal, R 2002, Performance management; a briefcase book, Stanford University Press,   Stanford. Coens, T 2002, Abolishing performance appraisals; why do they backfire, Ashgate Publishing, Aldershot. Daniels, A 2004, Performance Management: Changing Behavior that Drives  Organizational Effectiveness. Context Pre ss, New York. Dick, G 1992, Complete guide to performance appraisal, McGraw Hill, New York. Ely, R Thomas, D 2001, ‘Cultural Diversity at Work: The Effects of Diversity Perspectives on Work Group Processes Outcomes’, Administrative Science Quarterly, Vol.46, No.6, pp. 229-273. Mannix, E Neale, M 2005, ‘What Differences Make a Difference? The Promise and Reality of Diverse Teams in Organizations’, Psychological Science in the Public  Interest, vol. 6, no. 2, pp. 31-55. McCuiston, V, Wooldrige, R Pierce, C 2004, ‘Leading the diverse workforce. Profit, prospects and progress’, The Leadership Organization Development Journal, vol. 25, no. 1, pp. 73-92. Neal, J 2002, Effective phrases for performance management, Ashgate Publishing, Aldershot. Nemeth, C Klein, G 2011, The naturalistic decision making perspective, John Wiley and Sons, New York. Routledge T Francis, G 2009, ‘Performance management’, Journal of Organizational  Beh avior Management, vol. 2, no. 3, pp. 123-432. Tally, G 2000, Effective phrases for performance management, Ashgate Publishing, Aldershot. Shen, J, Chanda, A, D’Netto, B, Monga, M 2009, ‘Managing diversity through human resource management: an international perspective and conceptual framework’, The  International Journal of Human Resource Management, vol. 20, no. 2, pp. 235–251. Zaffron, L Steve, D 2009, Performance Management: The Three Laws of  Performance: Rewriting the Future of Your Organization and Your Life. John Wiley and Sons, New York. This report on Effective Performance Management was written and submitted by user Eden Kerr 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.