Managing Diversity in the Workplace - 1043 Words

Managing diverse employees in a multicultural environment proves challenging to managers; yet, increasing diversity in the workplace is very beneficial for an organization. Diverse employees will provide a wider array of talents and will relate better to varied customers. Because managers have more influence than rank-and-file employees, it is imperative that managers commit to diversity of the workforce. Dissimilarities among people due to differences in characteristics can erode companies. Firstly, unequal opportunities and unfair treatment to one race or sect are immoral can prove illegal. More so, however, diversity can help an organization maintain competitive advantage by utilizing a wider range of creative ideas. Nevertheless,†¦show more content†¦Equally so, people with disabilities are often discriminated against, often as a result of ignorance and fear; managers must accommodate those with disabilities and educate the employees in regard to AIDS and HIV. Additionally, managers ought to take religious beliefs into consideration when scheduling critical meetings and respect religious observances. Moreover, managers should consider socioeconomic backgrounds by acting sensitive and responsive to the concerns of individuals who might not be as well off as others. Hence, the diversity increase can be challenging to managers unfamiliar with these different groups. Thus, ma nagers must be aware of the many ways employees can be treated unfairly – albeit subtly – and take advantage of their contribution. Distributive justice is a moral principle that ought to be implemented in the workplace. This standard calls for an even distribution of pay raises, promotions and other organizational resources to those who contributed equally. Accordingly, personal characteristics – over which individuals have no control – should not carry any weight associated with the job. As a result, the procedural justice principle should be employed to determine how to distribute outcomes to members by appraising their performances. However, managing diversity effectively proves to be a good business choice asShow MoreRelatedManaging Diversity in the Workplace1356 Words   |  6 Pagesare instances, however, when workplace behavior can get out of hand and be inappropriate, causing a rift between employees. Many companies today hold yearly ethics courses designed to pinpoint an acceptable quality of behavior from their employees and also open up the floor to those who have issues with the compan y and its policies. Sometimes confronting an issue head on in a supportive environment will help find a positive solution to any issues of harassment or workplace abuse. Harassment should notRead MoreEssay on Managing Diversity in the Workplace1207 Words   |  5 PagesJohn F. Kennedy once said If we cannot end now our differences, at least we can help make the world safe for diversity. Diversity in the Workplace: Benefits, Challenges, and the Required Managerial Tools1 Kelli A. Green, Mayra Là ³pez, Allen Wysocki, and Karl Kepner2 Introduction The worlds increasing globalization requires more interaction among people from diverse cultures, beliefs, and backgrounds than ever before. People no longer live and work in an insular marketplace; they are nowRead MoreManaging Diversity Within The Workplace1605 Words   |  7 PagesAbstract- Managing Diversity in the workplace requires a lot of focus, training, and time. This paper gives an insight into the world of management and how diversity plays a big part. It explores the key benefits to putting emphasis on diversity and also how not putting emphasis on diversity could hurt your business. This paper also gives examples on how to go about managing diversity in the workplace. With proper focus on managing diversity, your organization can be at a big advantage. I. INTRODUCTIONRead MoreManaging Diversity in the Workplace Essay1140 Words   |  5 PagesManaging diversity and demographical changes in the workplace presents many dilemmas. Confronted with constant change, management, business educators, and organizational consultants continue to meet the challenges of a new and diverse workforce in a number of ways. Diversity can be defined in numerous ways. Diversity includes all the ways in which people differ, and it encompasses all the different characteristics that make one individual or group different from another. It is all inclusive and recognizesRead MoreManaging Diversity in the Workplace Essay3304 Words   |  14 PagesDiversity in the Workplace Abstract Imagine that you are a highly qualified former Hispanic executive who was recently laid off from a fortune 500 hundred company. Within that company you held several key roles in which you were crucial to the success of the organization. In the prior roles you may have never really understood the need or the process of managing diversity. You hold several advanced degrees in key business fields despite all of your experience education and the economy flourishingRead More Managing Diversity in the Workplace Essay1900 Words   |  8 Pagesexercise our diversity. We need to give each other space so that we may both give and receive such beautiful things as ideas, openness, dignity, joy, healing, and inclusion. -- Max de Pree Workplaces today have become increasingly diverse with employees of different genders, races, cultures, ethnic origins, and lifestyles. Changes in the cultural make-up of organizations have been so vast that it has become imperative for leaders and supervisors to understand cultural diversity and how it canRead MoreManaging Diversity And Equality Within The Workplace2677 Words   |  11 PagesIntroduction Managing diversity and equality effectively in the workplace is the core responsibility of any organization in the contemporary business world. Shen, Chanda, D’Netto and Monga (2009) conducted a survey whose results revealed the massive diversity within the British society in terms of ethnicity, nationality and religion. As a result, the Equality Act of 2010 was formulated and became law whose provisions focus on legal protection against discrimination based on gender re-assignment,Read MoreEssay about Managing Diversity in the Workplace1449 Words   |  6 Pagesorganizations need diversity to become more creative and open to change. Maximizing and capitalizing on workplace diversity has become an important issue for management today (UCSF). Workplace diversity refers to having a variety of different types of people working together within a place of business. Employee gender, race, religion, sexual preference, physical appearance, family or marital status, education, culture, personality, or tenure establishes diversity in the workplace. Diversity is rapidlyRead More Managing Diversity and Ethics in the Workplace - 12979 Words   |  12 Pages Managing Diversity and Ethics in the Workplace Introduction There steps leaders and managers can take to effectively manage diversity and ethics concerns. How a manager effectively manages ethics and diversity, within the organization is directly correlated to the cultural, organizational and external environment influence ethical behavior. One of the step’s leaders and managers can take is to incorporate diversity training of the organization. Read MoreManaging Workplace Diversity Essay1219 Words   |  5 PagesDiversity is a term used most often to describe the different types of race, religion, and nationalities but in today’s business world, it is used to describe the different individual behaviors of employees. Diversity is about characteristics and demographics that differ from person to person and how they affect human behavior. To understand how diversity affects the work place let us look at four types of diversity--Differences in skill and abilities, Values and attitudes, Occupation differences

Critical Analysis Of A Dolls House - 1731 Words

â€Å"A Dolls House† A Norwegian playwright, Henrik Ibsen first published â€Å"A doll’s house â€Å" in 1879. In this play Ibsen distinguished the state of marriage, believing that it was possible for two people to travel through life as perfect, happy equals. A Doll s House is a three act play about a seemingly typical housewife who becomes disillusioned and dissatisfied with her superior husband. In the first act the setting was important to note that the whole play takes place in one room and that until the last act, Nora is every scene. She never seems to leave the room as if everything were to come to her. She is literally trapped in domestic comfort. Though there is a great†¦show more content†¦In other words, money and materialism can be seen as a way to avoid the complications of personal contact. He abhors the idea of financial or moral dependence on anyone. His desire for independence leads to the question of whether he is out of touch with reality. Nora, as a symbol of woman, is called a number of names by Torvald throughout the play. These include little song bird, little featherhead, little skylark, little person, and little woman. Torvald is extremely consistent about using the modifier little before the names. These are all usually followed by the possessive my, signaling Torvald s belief that Nora is his. This signals that he does not see Nor a as an equal; rather, Nora is at times predictable and a silly dolls; at other times she is a captivating and exotic pet or animal, all created for Torvald. A Light is used to illustrate Nora s personal journey. After the turning point of Torvald s claim to want to take everything upon himself and while she is talking to Dr. Rank, the light begins to grow dark, just as Nora sinks to new levels of manipulation. When Dr. Rank reveals his affection, Nora is jolted out of this fantasy world and into reality and insists on bringing a lamp into the room, telling the doctor that he must feel silly saying such things with the light on. Nora s ball dress symbolizes the character she plays in her marriage to Torvald. A tarantella is a folk dance from southern Italy that accelerates from itsShow MoreRelatedCritical Analysis of a Doll House1250 Words   |  5 PagesA Critical Analysis of A Doll House By Henrik Ibsen Henrik Ibsen s background provided him the insight to write the play A Doll House. In Britannica Biographies, Ibsen s father lost his business and the family s financial stability when Ibsen was a young child. Because of the family s financial misfortunes, at the age of 15, Ibsen was forced to leave home and venture out on his own. He supported himself meagerly as an apothecary s apprentice and studied at night to prepare for universityRead MoreCritical Analysis Of A Dolls House1740 Words   |  7 PagesIbsen (Links to an external site.)Links to an external site. (1829-1906). Though his plays suggest otherwise, Ibsen revered the state of marriage, believing that it was possible for two people to travel through life as perfect, happy equals. A Doll s House is a three act play about a seemingly typical housewife who becomes disillusioned and dissatisfied with her condescending husband. Act One:Setting: It is important to note that the whole play takes place in one room and that until the last actRead MoreA Dolls House Critical Analysis1477 Words   |  6 PagesIn Henrik Ibsen’s controversial play, A Doll’s House, the audience witnesses Nora Helmer, a Norwegian housewife, struggle to hide a secret financial transaction from her husband, Torvald Helmer. At the conclusion of the play, Nora decides to leave Torvald and her children in order to find self-fulfillment. Throughout the play, Henrik Ibsen offers vivid criticism on the social expectations imposed upon women in Victorian-era society. Ibsen communicates this central message of the play by utilizingRead MoreA Doll House : A Play From Different Perspectives1557 Words   |  7 PagesSean Walsh Literary Perspectives Research Essay A Doll House: A Play from Different Perspectives When A Doll House was first produced Ibsen successfully shocked and angered many who went to go see it. However if you google A Doll House today you’ll find many article’s praising it for its feminist themes. When looking at reviews for A Doll House after its first production I find no mention of feminism but rather many called it untrue and one even called the third act â€Å"it’s Achilles heel†(AvisRead MoreA Doll s House : Henrik Ibsen962 Words   |  4 PagesDrama Analysis A Doll’s House (Henrik Ibsen) And Trifles (Susan Glaspell) In comparing both dramas, the overwhelming aspect of convergence between both is the open discussion of gender identity. Both dramas make similar points about what it means to be a woman. Modern society in both dramas is constructed with men holding power over women. This is seen in Trifles in how men like George Henderson and Mr. Hale are myopic. The premise of the drama is how women worry over trifles, and the dismissiveRead MoreA Critics Opinion of a Dolls House1743 Words   |  7 PagesDestiny Maxfield Mrs. Collar Engl. 1302 19 November 2012 A Critic’s Opinion of A Doll’s House In Henrik Ibsen’s A Doll’s House many views could be seen from both sides of the gender world. Critics will argue about the true meaning of the story and why Ibsen wrote the story. The main points of the play that critics discuss are sexuality i.e. feminism, the wrong doing of the father figure, and spiritual revolution. I believe these critics are each right in their own way from my understanding of theRead MoreA Dolls House -H.Ibsen ,Critical Analysis1554 Words   |  7 Pagesï » ¿Subject : Drama B Writer : Henrik Johan Ibsen Genre : Realistic Modern Drama Name of the Work / Play : A Doll’s House ( 1897 ) in three acts Characters : Major Characters / Minor Characters Nora Helmer ( wife of Torvald Helmer ,mother of three children ) Torvald Helmer( husband of Nora Helmer , a lawyer ,father of three children ) Dr. Rank ( doctor ,friend of Nora Torvald Helmer, confidant ,commentator ) Mrs. Kristine Linde ( old friend of Nora Helmer ) Nils Krogstad ( barristerRead MoreAnalysis of Acting and Directing in The Crucible Essay636 Words   |  3 PagesAnalysis of Acting and Directing in The Crucible I saw the play The Crucible and there were examples of styles of directing and acting that were very interesting. The production was put on by the University of Arizona’s theatre department and as such the directing and acting had its good points and its bad ones. There was one scene in particular that appeared to be very well directed. Act two takes place in the common room of the Proctor’s house about a week after the initial scene in theRead More A Comparison of Realism in Uncle Vanya and A Dolls House Essay1630 Words   |  7 PagesRealism in Uncle Vanya and A Dolls House      Ã‚  Ã‚  Ã‚   A play serves as the authors tool for critiquing society. One rarely encounters the ability to transcend accepted social beliefs. These plays reflect controversial issues that the audience can relate to because they interact in the same situations every day. As late nineteenth century playwrights point out the flaws of mankind they also provide an answer to the controversy. Unknowingly the hero or heroine solves the problem at the end of theRead More Essay on Lies and Self-realization in A Dolls House1162 Words   |  5 Pagesin A Dolls House    In Ibsens play,   A Dolls House,   the characters willingly exist in a situation of untruth or inadequate truth that conceals conflict.   Noras independent nature is in contradiction to the tyrannical authority of Torvald.   This conflict is concealed by the way they both hide their true selves from society, each other, and ultimately themselves.   Just like Nora and Torvald, every character in this play is trapped in a situation of untruth. A Dolls House, can be misinterpreted

Jk Cement Research Report Free Essays

Indian Institute of Management, Bangalore PGP Program Term 1, 2012 Final Report for JK Cements – Group 2 Section 1 Business Description: JK Cements is one of the largest cement manufacturers in Northern India and the eighth largest overall India with net cement sales of 2545 crores in 2011-12. Itsmain productsinclude grey and white cement. It produced 53. We will write a custom essay sample on Jk Cement Research Report or any similar topic only for you Order Now 2 lakh tons of grey cement and 3. 77 lakh tons of white cement in the financial year 201112. Grey cement produced consists of Ordinary Portland Cement (â€Å"OPC†) and Portland Pozzolana Cement (â€Å"PPC†). Their cement products are marketed under the brand names J. K. Cement and Sarvashaktiman for OPC products, J. K. Super for PPC products and J. K. White and Camel for white cement products. JK Wall Putty and JK Water proof are its white cement based value-added products. Housing (74%), infrastructure (17%), commercial institutional sector (13%) and industrial sector (6%) are the major customers of the cement industry [Refer Figure 1]. Housing constitutes a major chunk of the demand and hence rural and urban housing projects are a key resource generator. Key stock statistics and revenue/earnings data is included in the appendix [Refer Tables 1 2] Section 2 Market Profile, Competition, Strategy, Risks A. Market Profile: The demand for cement mainly depends on the level of development and the rate of growth of the economy. The major demand drivers for the cement sector in India are housing, infrastructure and commercial construction. These are key components of the country’s GDP and hence, the average growth of the cement industry is approximately 1. 2 times the GDP growth. Significant impetus to both rural and urban housing as per capita income increases in a major driver of the industry. With the increase in national infrastructure investment, the industry is poised to expand further in spite of the worldwide economic recession. The housing sector contributes around 64% of the total cement demand. It also accounts for 80% of the total real estate developments in the country. Housing demand is expected to be robust backed by various measures adopted in the budget like continued interest subvention up to 15 lacs, exemption from service tax for low cost housing construction, and increase in investment-linked deduction of capital expenditure on low-cost housing from 100% to 150%. There has been a major push by the government in infrastructure development with the intended investment being US$ 1 trillion in the 12th five year plan period (2012-17), against an investment of US$ 514 billion in the 11th five year plan period. Massive investment in infrastructure would provide boost to Indian Cement industry. India is the second largest producer and consumer of cement in the world, accounting for 7-8% of the total global production with an installed capacity of over 300 Mtpa at the end of 2011-12. India’s cement industry performed better in 1 011-12, on back of robust demand revival in the second half of the financial year. The industry grew by 6. 4 per cent in 2011-12 as against less than 5 per cent in 2010-11. Total cement sales were 223. 02 MT compared with 209. 5 MT in FY11. For 2012-13, CRISIL Research estimates cement demand to increase 7-8 per cent yoy (Crisil). In the near term, demand could be a little weak because of the lower GDP growth. Given th at a large part of the demand comes from the housing sector, high interest rates are not conducive to the urban real estate demand. However, in the long term, the industry is expected to grow at an average of 1. times the GDP growth rate. Growth rates of 8-9% can be targeted for the five year period given the increase in investment in infrastructure projects and increasing rural demand. Although India is one of the largest cement markets in the world, per capita consumption of cement is still low as compared to the world average as well as that of other large countries such as China and US. The Indian cement industry, thus, has a huge growth potential. Given the intense shortage of housing, this segment has been a major growth driver for the cement industry. The demand for residential real estate has only increased, fuelled by increasing urbanization, rising income levels, decreasing household sizes and easy availability of home loans. Bulk of the total shortage of 74 million units at the end of the 11th Five Year Plan (2007-2012), is expected to be generated by rural and below poverty line households. The government has launched various initiatives such as NREGS and Indira AwasYojana to improve rural income, which may increase demand for rural housing in the country. Increased infrastructure investments by the government as mentioned earlier is also likely to be a major growth area. Housing (74%), infrastructure (17%), commercial institutional sector (13%) and industrial sector (6%) are the major customers of the cement industry. Housing constitutes a major chunk of the demand and hence rural and urban housing projects are a key resource generator. Overall industry margins and change in sales trends are mentioned in tables at the end. [Refer to Table 3 4]. Please refer to Table 5 for a picture of the industry growth rate based on the Free Cash Flow model where the average P/B was computed with the top 5 firms of the industry and different rates for cost of capital were assumed. This shows that the cement industry is poised for growth for whatever cost of capital that may prevail. B. Competition: Inter firm competition and rivalry in the industry is high. Large number of players, intermittent overcapacity, marginal product differentiation, high storage cost and high exit barrier in form of significant capital investment has led to high competition in the industry. Threat of new entrants is limited since it involves high capital investment, broad distribution network and oversupplied markets deter new entrants. However, given the high potential for growth, quite a few foreign transnational companies have made acquisitions and increased their stake in domestic companies to gain full control. There are no good substitutes for cement popular in India. However, there are eco friendly substitutes for cement which include fly ash and slag. Fly ash is the by product when coal is burnt to make electric power and slag is created when producing iron in blast furnaces. Coal fly ash, blast furnace slag and other mineral admixtures can substitute for cement, aving energy and reducing cost. Bitumen in roads and engineering plastics in building are some element of competition. Currently, the top players – UltraTech, ACC, Ambuja Cements, Jaiprakash Associates, India Cements and Shree Cement, collectively control more than half of the cement market in the country. Overall, there are 40 players in the industry across the country. (Source: ibef. org) The closest competitors for JK Cement are Shree Ceme nts, Madras Cements, Birla Corporation and Binani Cement. The industry has a 4-firm concentration ratio of 58. 18%. 2 C. Strategy Despite challenges, JK Cement has increased revenues and profits owing to higher realisation and volumes in both grey cement and white cement business. The company is in on its way to expanding its capacity in India to cater to the increase in cement demand. It has also diversified its product portfolio by not only limiting itself to varieties of grey cement but also extending to white cement and other value added products. Besides, the Company is also setting up a grey cum white cement plant at Fujairah in UAE to cater to GCC and African markets. The company is making efforts to reduce operating expenses which in turn would increase the ROE. Some of the efforts to reduce operating costs are: Grey Cement †¢ Implementation of CII Audit findings in phased manner to reduce power consumption. †¢ Installation of VFDs in fans to save power. †¢ Replacement of booster fans by high efficiency fans to save power. †¢ Installation of pfisterpump for coal firing in calciner. †¢ Replacement of Raw mill -1 separator by high efficiency separator. †¢ Dynamic separator in Coal Mill. White Cement †¢ Covered clinker storage facility for grey and white clinker. †¢ Grinding plant for dolomite for putty product. †¢ Installation of new SG Fan Driver. The company is also making efforts to increase its capacity. The company is revisiting the size of proposed expansion plan at Mangrol, Rajasthan from earlier envisaged 3. 5 Million Tons to around 2. 5 Million Tons, on account of delay in allotment of new mining area to the Company. Viability study for 2. 5 Million Tons capacity plant is under preparation and a final decision will be taken during the course of the year. D. Risks Three most important risks: 1. Sustained economic slowdown The growth of cement industry is directly proportional to GDP growth rate. Absence of decision making at Government level is affecting economic growth and may have adverse effect for the cement industry. If measures are not adopted against inflation, high interest rates, depreciating rupee, then it would impact the overall economic growth of the country resulting in dragging the sector down. 2. Unavailability of coal linkages Coal costs constitute 14-23% of cost of production of cement. The hike in coal prices is expected to hit the margins. Due to reduced supply of coal linkers from Coal India over the years; the company has to import coal at higher costs from South Africa and Indonesia. The depreciation of the rupee will also add to the increased cost of raw materials. 3. Adverse demand-supply mismatch In case, the additional capacities get commissioned ahead of schedule, then a state of oversupply would rise, consequently prices may head downwards and the sector may suffer a severe blow. Section 3 3 Trend Analysis The demand for the cement mainly depends on the rate of growth of infrastructure, housing and commercial construction. In Indian context all these areas have been experiencing a significant growth as a result of constant growth in our GDP. As a result we can see that overall the total revenues for both the companies have been rising [Refer to Figure 2]. JK Cement and Madras Cements basically cater to northern and southern India respectively. In year 2011, there is a dip in the total revenues of Madras Cement. This was result of a more acute fall in the capacity utilization observed in southern India due to low demands because of political instability in Andhra Pradesh and minimal pick-up in demand in Tamil Nadu and Kerala post elections. The two industries exhibit comparable trend as far as profit margins are concerned [Refer to Figure 4]. So, an overall analysis of cement industry in this period is required. In 2008, the dip can be attributed to reduced demands due to global recession, which reduced capacity utilization thus reducing profits. In 2011, there was marginally poor off take in cement demand due to passive construction activity, which lead to excess supply and utilisation fell to a 13-year low of 83. 9% for 2010-11. This has been coupled with rise in input costs, especially prices of coal and petroleum products. As a result, both the top line and bottom line have been affected. Hence this year the capacity utilization increased and the demand dropped. Section 4 Ratio Analysis [Refer Table 6] . Return on Equity : [Refer Fig. 5] ROE has been hovering around 17-20% throughout with some years seeing slight changes. Given that Index of Industrial Production(IIP) grew only by around 2. 8%, it appears that JK and Madras have both done well. However, 2010-11 was a bad year for JK Cements. Their Net Operating Profit plummeted by 39% when compared to the previous year while the same for Madras Cement was only around 27%. This was mainly on account of reduction in sales realisation and substantial increase in the prices of petcoke and fuel resulting in higher input costs (Annual Report 2010-11). This caused the ROE of JK to fall by almost 600% from the previous year. 2. Basic DuPont Model Analysis : [Refer Fig. 4,5 and 6] ROE = Asset Turnover * Profit Margin Asset Turnover of JK is consistently higher when compared with Madras Cements – 42. 46% higher in 2006-07 while this is 39. 87% in 2012. This is because JK’s total fixed assets is lesser than Madras’ by almost 50% while sales of Madras Cements is higher only by around 2025% on an average . However, the low profit margin throughout has been causing the Return on Equity of JK to be lower than that of Madras Cements. The profit margin has been very low in all the years from with the worst hit being in 2011 – reason explained in step 1. Also the Net Financial Rate has dinted the net profit due to expansion efforts coupled with the dim outlook in the industry. A ray of hope for JK would be to perform product differentiation with the white cement – wall putty market ; it has done right by expanding the white cement units in overseas ; the demand for interior and decor is bound to increase in the near future. 4 3. Advanced DuPont Model Analysis with RNOA Leverage : [Refer Fig. 12] It can be seen that the Operating Spread of JK is going negative for 2010-11 2011-12 showing that their Financial Rate is on the rise which is due to debts from increased expansion plans. This, along with the increased leverage from high borrowing, has reduced the already low RNOA to yield a poor ROE value. In the same while, for Madras Cements the spread has been positive – in fact, it has never gon e negative for them, despite their large debt. Madras Cements has been affected only by the overall increase in costs in the cement industry and not by the leverage effect which JK has suffered from. The leverage effect has beaten JK again in 2011-12 ; though their RNOA has increased by 177% from the previous year and long-term debt has actually reduced, the Interest Rates on loans have seem to have gone up – leading to a 117% increase in the NFR. Thus the negative operating spread has again caused JK’s ROE to fall below the RNOA – Madras Cements has remained stable in this period – registering a higher ROE than RNOA due to the positive spread. Again, this shows that Operating Margin of JK is low when compared with the cost of capital. 4. Analysis of Turnover ratios [Refer Fig. 9 0] Inventory Turnover and Debt Turnover of JK is considerably higher than that of Madras Cements leading to a better operating cycle. Low inventory holding and low receivables isa positive trend for JK Cements and it should continue this. 5. Analysis of Liquidity and Long-term Solvency : [Refer Fig. 8,11] The Quick Ratio of JK is consistently higher than Madras Cements for al l the 5 years taken into consideration – hence the liquidity position of JK is better than that of Madras Cements. The capital structure seems more of debt financing in the recent years – owing to expansion plans. However increase in interest rates would make JK vulnerable to low margins which is already discussed in the advanced model. Section 5 – Conclusion – – – The cement industry is estimated to grow as can be seen from the CRISIL analysis quoted in section 1; housing and infrastructure demand are expected to increase – hence JK is bound to do well The cost reducing efforts of JK and the product differentiation into white cement are expected to increase profit margins. The Asset Turnover values of JK are also higher than its competitor. Hence increase in ROE is expected in coming years. The reduced operating cycle of JK shows a positive trend vis-a-vis its competitor. P/B value of JK is 1. 18 while industry average (top 5 firms) is 2. 76 (refer to table on Growth of Cement Industry). Hence JK stock seems to be undervalued [Refer Table 5] JK has declared 50% dividend for the current year and has consistently declared dividend for the past 5 years. However, the inherent risks in the industry – from global crises like the Euro crisis and flagging coal availability pose concerns for the successful implementation of plans. Further, the continuous expansion plans of JK leading to higher debt and hence higher interest rates (which can rise based on RBI measures to contain inflation) cause concern for the profit margins which can again reduce. The positives seem to be strong as JK is trying to stabilize its expansion plans. Hence an acute negative view point would not be correct. Hence we suggest a buy/hold after doing the above analysis. 5 References : – Crisil. (n. d. ). Retrieved August 21, 2012, from Crisil Web site: crisilresearch. com – Dion Insight. (n. d. ). Retrieved August 21, 2012, from Dion Insight Web site: https://insight. ionglobal. in/Insight/Industry. asp? pageLink=IndProfileInd=151 – equitymaster. com. (n. d. ). Retrieved August 21, 2012, from equitymaster. com: http://www. equitymaster. com/research-it/sector-info/cement/Cement-Sector-AnalysisReport. asp – Gupta, N. (n. d. ). Ernst Young. Retrieved August 21, 2012, from Ernst Young Web site: http://www. ey. com/Publication/vwLUAssets/cementing_growth/$FILE/cementing_growth. pdf – India Brand Equity Foundation. (n. d. ). Retrieved August 21, 2012, from India Brand Equity Foundation Web site: http://www. ibef. org/industry/cement. aspx – Jagdesh Sunku. 2006). Advantages of using fly ash as supplementary cementing material (SCM) in fibre cement sheets. 10th Int. Inorganic Bonded Fibre Composites Conference, (pp. 25-32). Sao Paulo. – JK Cement Annual Report 2010-11 2011-12. JK Cement. – moneycontrol. com. (n. d. ). – PlanningCommision. (n. d. ). Planning Commission. Retrieved August 21, 2012, from Planning Commission Web site: http://planningcommission. nic. in/plans/mta/11th_mta/chapterwise/chap14_invest. pdf 6 Appendix A Division Figure 1: Division of customers of cement industry into major sectors Major Major customers of cement industry Commercial Institutional 13% Industrial 6% Infrastructure Infrastructure 17% Housing 64% Figure 2: Total revenue for JK Cement Madras Cements Ltd. (Revenue in crores)(Before 2005 financial financial statements for JK Cement wasn’t prepared. It was then treated as a division under JK Groups for financial purposes) Total revenue 3,500. 00 3,000. 00 2,500. 00 2,000. 00 1,500. 00 JK Cement Madras Cements Ltd. 1,000. 00 500. 00 0. 00 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 7 Figure 3: Change in sales % change in sales 60 50 JK Cement Madras Cements Ltd. 40 30 20 10 0 -10 -20 2003 2004 005 2006 2007 2008 2009 2010 2011 2012 Figure 4: Profit Margin Profit margin 25. 0% JK Cement Madras Cements Ltd. 20. 0% 15. 0% 10. 0% 5. 0% 0. 0% 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Figure 5: Return on Equity ROE (%) 60 JK Cement 50 Madras Cements Ltd. 40 30 20 10 0 2007-08 2008-09 2009-10 2010-11 2011-12 8 Figure 6: Asset turnover Asset turnover (%) 110 JK Cement 100 Madras Cements Ltd. 90 80 70 60 50 40 2007-08 2008-09 2009-10 2010-11 2011-12 Figure 7: Return on Net Operating Assets RNOA (%) 40 JK Cement Madras Cements Ltd. 30 20 10 0 2007-08 2008-09 2009-10 2010-11 2011-12 Figure 8: Debt – Equity Ratio Debt – Equity Ratio 2. 5 JK Cement Madras Cements Ltd. 2 1. 5 1 0. 5 0 2007-08 2008-09 2009-10 2010-11 2011-12 9 Figure 9: Spread Operating Spread 0. 5 JK Cement 0. 4 Madras Cements Ltd. 0. 3 0. 2 0. 1 0 -0. 1 2007-08 2008-09 2009-10 2010-11 2011-12 2010-11 2011-12 -0. 2 Figure 10: Holding period Operating Cycle (days) 120 JK Cement Madras Cements Ltd. 100 80 60 40 20 0 2007-08 2008-09 2009-10 Figure 11: Quick ratio Quick Ratio 2 JK Cement Madras Cements Ltd. 1. 5 1 0. 5 0 2007-08 2008-09 2009-10 2010-11 2011-12 10 Figure 12: Net Financial Rate NFR 0. 18 JK Cement 0. 6 Madras Cements Ltd. 0. 14 0. 12 0. 1 0. 08 0. 06 0. 04 0. 02 0 2010-11 2011-12 11 Appendix B: (Tables) Table 1: Key stock statistics Stock Report| 24 July 2012 |Symbol : JKCEMENT (NSE); JKCEM (BSE); ISIN NUMBER INE823G01014 J K Cements Stock Price (closing) Investment Style 213. 30 (as of 20 July 2012) Large CAP Sector Cement Summary : JK Cements is one of the largest cement manufacturers in Northern India ; it is the second largest white cement manufacturer by production capacity in India Key Stock Statistics 52 Wk Range 95. 80 to 219. 70 (BSE) 25. 36 8. 41 11,839 EPS (Twelve Month Trailing) P/E (Twelve Month Trailing) 10K investment 5 yrs ago Credit Rating Long Term Bank facilities Short Term Bank facilities Common shares outstg. 69927250 Market Cap Yield (%) Dividend rate per share 1491. 55 Crores 2. 34 5 A+(CARE) A1+(CARE) Table 2: Earnings per Share Earnings Per Share of 10 each ( ) June Q1 September Q2 2011-12 7. 14 0. 51 2010-11 4. 22 -2. 98 2009-10 10. 04 9. 35 December Q3 6. 22 0. 26 6. 65 March Q4 11. 49 7. 66 6. 28 Year 25. 36 9. 16 32. 32 ? ? ? ? ? ? ? ? Table 3: Industry Margins OPM(%) GPM (%) NPM (%) Mar ‘12 21. 78 21. 49 9. 14 Dec ‘11 19. 65 18. 45 10. 13 Industry Margins Sep ‘11 15. 66 13. 6 5. 05 Jun ‘11 24. 41 22. 48 11. 76 Mar ‘11 22. 46 20. 9 11. 92 Dec ‘10 17. 18 15. 32 5. 84 12 Table 4: Industry sales Mar ‘ 12 Industry sales (in crores) % change Change in industry sales (quarter)(%) Dec ‘ 11 Sep ‘ 11 Jun ‘ 11 Mar ‘ 11 Dec ‘ 10 20841. 87 17953. 16 15649. 20 17017. 73 17388. 15 14201. 79 16. 09026 14. 72254 -8. 04179 -2. 1303 22. 43633 Table 5: Industry Growth Projections (for different values of ‘r’) using Free Cash Flow Model Company Name Ultratech Ambuja ACC Shree Cements Madras Cements India Cements JK Cement Average P/B ratio as on 26/08/2012 3. 66 3. 64 . 5 4. 55 2. 19 0. 68 1. 14 2. 765714286 ROE (from March 2012 BS) Cost of Capital (%) Growth (%) 19. 02 15. 28 18. 42 10. 55 18. 78 7. 21 13. 75 14. 71571429 10 11 12 13 14 7. 329288 8. 895631 10. 46197 12. 02832 13. 59466 Table 6: Ratio Calculations Ratios Profit Margin (%) Asset Turnover (%) ROE (%) Return on Assets ( %) Net Operating Profit Margin (%) Net Operating Asset Turnover (%) Return on Net Operating Assets (%) = NOPAT/Avg. Net Operating Assets JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement 2011-12 8. 154156 12. 06512 77. 80004 55. 62438 17. 04343 20. 87036 6. 343937 6. 711146 10. 83703 15. 17511 139. 8798 83. 81691 15. 15882 2010-11 1. 654139 7. 964254 79. 85371 47. 82047 3. 49563 12. 67786 1. 320891 3. 808544 4. 320325 11. 0728 126. 2029 68. 65512 5. 452374 2009-10 10. 84236 12. 59667 88. 57764 56. 65368 22. 29768 25. 09332 9. 60391 7. 136478 12. 51604 16. 10394 160. 5309 81. 84813 20. 09211 2008-09 8. 421552 14. 40591 94. 35595 63. 17162 16. 78291 32. 91344 7. 946235 9. 100446 10. 11265 17. 00776 212. 7993 93. 59998 21. 51965 2007-08 16. 62175 20. 30998 107. 4567 75. 2185 41. 51821 50. 27496 17. 86118 15. 31816 17. 88877 21. 64552 209. 9905 128. 6868 37. 5647 Madras Cement 12. 71931 7. 602044 13. 18078 15. 91926 27. 85493 13 Interest Coverage (%) Leverage – Measure 1 Debt-Equity Ratio Current Ratio Quick Ratio Debt Turnover Debt Collection Period (days) Inventory Turnover Inventory Holding Period (days) Operating Cycle (days) NFO NFE NFR Op. Spread F LEV*Spread ROE = RNOA + FLEV*Spread (Advanced Dupont Analysis) JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement JK Cement Madras Cement 392. 0551 615. 8751 2. 686571 3. 109805 0. 837413 1. 030999 1. 197299 0. 601965 0. 833253 0. 343679 35. 22924 16. 62681 10. 21879 21. 65177 5. 924257 5. 223089 60. 76712 68. 92473 70. 9859 90. 57651 401. 46 1719. 03 68. 278 101. 808 0. 170074 0. 059224 -0. 01849 0. 067969 -0. 01548 0. 070076 13. 61077 19. 72691 254. 5852 468. 6705 2. 646419 3. 328794 1. 150731 . 609198 1. 367937 0. 931981 0. 916991 0. 599238 33. 11155 15. 49891 10. 87234 23. 22745 7. 497843 4. 941565 48. 01381 72. 85141 58. 88615 96. 07886 802. 04 2307. 32 62. 958 81. 466 0. 078497 0. 035308 -0. 02397 0. 040713 -0. 02759 0. 065515 2. 693658 14. 15354 666. 585 579. 4166 2. 321729 3. 516204 0. 939762 1. 647142 1. 144753 1. 00381 0. 764784 0. 639154 30. 43733 22. 88671 11. 82758 15. 7 2965 8. 619538 5. 233222 41. 76558 68. 79127 53. 59316 84. 52092 705. 23 2034. 43 34. 363 98. 455 0. 048726 0. 048394 0. 152195 0. 083413 0. 143027 0. 137394 34. 39482 26. 92014 619. 7696 717. 6917 2. 112058 . 616684 0. 580401 1. 954809 1. 968687 0. 982285 1. 675142 0. 628742 30. 17987 33. 40915 11. 92848 10. 77549 10. 69177 6. 127751 33. 67075 58. 74912 45. 59923 69. 52461 -143. 99 2006. 67 28. 147 65. 807 -0. 19548 0. 032794 0. 410675 0. 126398 0. 238356 0. 247085 45. 35528 40. 62774 851. 7743 1451. 897 2. 324494 3. 28205 0. 626681 1. 714777 1. 762163 1. 019801 1. 467784 0. 702189 26. 72182 31. 59228 13. 47214 11. 39519 10. 49671 6. 782897 34. 29647 53. 07467 47. 76861 64. 46986 37. 91 1183. 64 20. 216 26. 782 0. 533263 0. 022627 -0. 15762 0. 255922 -0. 09877 0. 43885 27. 68721 71. 73993 14 How to cite Jk Cement Research Report, Essays

Heart Of Darkness Mystery And Suspense Essay Example For Students

Heart Of Darkness: Mystery And Suspense Essay Heart of Darkness: Mystery and SuspenseIt seems like everywhere there is something in life that seems to beleft behind. In the books I read about mystery or suspense, this always seemsto be the case in such. The Heart of Darkness draws me into such depths ofsuspense and unknown that seem to assciate with my life. This whole book is full of mysteries. Marlow has a heart that is fullof mytery when he is stuck in Africa, and looking for a man named Kurtz. Marlowis waiting, he learns about where the place is at, what could be coming ahead. Maybe he was just acquiring some ideas of what was ahead, or who he would beworking with. Why is all this senselessness happening around him?Marlow is enthralled with mystery. You wouldnt think that somebodywould be simply crazy to go and take a trip down the Congo river. He has heardsome aspects about the place, and the way it seems to suck the visitors in. Allthe people getting diseases. One would go insane there, so why? Why would hewnat to go do this? Again, its full of mystery, and that makes an interestingbook. Kurtz, with this person, I can not express how much mystery applies tohim and his personality. People havent heard from him for quite a long time,because h eis up the river from the station where Marlow is at. People arewanting the boss, and theyre getting restless. Is Kurtz, sick? Could one ofthese people get a new promotion in their job? The people dont want Marlow togo explore up the river a ways and kind Kurtz, suppling him with help that hemight need. And yet, Marlow needs Kurtz. Yet, there is the mystery of the Congo river. It has a way with thepeople that come into it and try to explore its orgins. It seems to drag youin, and not let you go. All of this, because they were curious and brave. Butnot all brave men will make it through this jungle that the Congo river lays on. Eventually, Marlow fixes his steamboat, and carefully goes to meet themysterious man he has heard so much from the people, back in the station. Whoknows what hell find, or hear, or feel on his way. Its a mystery that followshim. Seems to be his shadow, but Marlow avoids them because they get in his wayall the time. Then comes the infamouse scene of the package. Marlow finally findsKurtz, and he gives Marlow a package. This was confusing part on my behalf. Kurtz dies, then gives the package away. I mean, this is a total mystery to me,and what was in the package. Maybe Kurtz saw hope in Marlow, and that he wasstrong enough to survive. The Hear of Darkness, a book full of unknown. Ive never read a bookwith so many unknown containing in its pages. But again, the mystery part ofit makes that a good book, which is suspenseful. This was definately a Heartof Darkness.

A Discussion of Key Challenges Faced by MNCs in Developing a Cohesive Inclusive Culture

Introduction Owing to successful elimination of trade barriers and increasing permeability of national boundaries brought about by globalization of competition (Lucas 258), it can be conceivably argued that multinational corporations (MNCs) have already assumed a position as the engine of the world’s economy (Olusoji Oluwakemi 3).Advertising We will write a custom research paper sample on A Discussion of Key Challenges Faced by MNCs in Developing a Cohesive Inclusive Culture specifically for you for only $16.05 $11/page Learn More This position has been granted by the very many advantages that MNCs are able to achieve by working in diverse countries, namely: (1) minimal dependence on the economic or political outlook of one single country, (2) differentiated market position, (3) capability to create international affiliates, (4) economy of scale through the size and nature of the business, (5) global visions and strategies, and (6) employment of synergies to establish and maintain competitive advantage (Chuang et al 444; Scheffknecht 73). However, as demonstrated in extant management literature, the capacity to work in multiple countries and across geographical locations presents several challenges for MNCs, especially the challenge of bringing together employees from diverse national cultures to form a cohesive and inclusive corporate culture that can effectively operate under one roof (Fredriksson et al 408; Lucas 258; Scheffknecht 73). Indeed, extant literature demonstrates that cultural diversity is one of the foremost challenges facing MNCs in contemporary times, in large part due to the fact that culture influences the attitudes, values, approaches and perceptions of employees (Donmez 1). The purpose of the present paper, therefore, is to identify the key challenges faced by MNCs in developing a cohesive and inclusive corporate culture, and also to provide some recommendations on how these challenges should be addres sed. A Brief Overview of Multinational Corporations There are numerous definitions of MNCs depending on context and scope of application. The present paper adopts the definition that an MNC is basically an entity â€Å"†¦which undertakes direct foreign investment, own or control income-earning assets in at least more than one country, and also produces goods or services outside its country of origin† (Olusoji Oluwakemi 2). Not only must a multinational enterprise be engaged in the production of goods and/or services, but the production must be undertaken in other geographical locations outside the area of origin, hence the omnipresent challenge of cultural barriers.Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More In an increasingly competitive business environment, MNCs always strive to have competitive advantages over one another by employing strategies such as: (1) e xporting home country management practices to foreign subsidiaries to achieve standardization and economies of scale and scope, (2) adjusting to varied host country environment, including making arrangements to be sensitive to diverse national cultures of host countries, and (3) arbitraging through selective specialization of activities in diverse geographical settings (Olusoji Oluwakemi 3). A Brief Description of Culture As demonstrated in the literature, culture is an important component in the study of multinational enterprises. The concept has been defined differentially by scholars and practitioners, with a large number of them showing that culture is the way of life of a group of people (Vance et al 590), and that it explicates how individuals act in concert when they do share understanding in knowledge, belief, art, technology, material artifacts, moral, law, custom and other capabilities, habits and value systems acquired by man as a member of the society (Almond 260; Oluso ji Oluwakemi 3). Hofstede, one of the most celebrated scholars of culture, defines culture as â€Å"†¦the collective programming of the mind that distinguishes the members of one group or category or people from another† (Olusoji Oluwakemi 3). The original four dimensions of cultural difference as demonstrated by Hofstede, namely â€Å"Power Distance, Uncertainty Avoidance, Individualism and Masculinity†, have in the recent past been complimented by two additional dimensions – Team Orientation as well as Indulgence vs. Restraint (Scheffknecht 73). It is worthwhile to note that these dimensions exemplify the challenges faced by MNCs in developing a cohesive and inclusive corporate culture because of the fact that national culture is embedded deeply in everyday life of individuals, and may therefore be enduring and impervious to change (Scheffknecht 73). Consequently, it is plausible to assume that the cross-cultural challenges faced by MNCs as they attempt to operate in host countries, including such challenges as understanding the variations in communication patterns and styles, diverse principles and notations of hierarchy and organizational structures, and diverse systems of making business, are primarily influenced by national cultures of the employees in a particular destination (Donmez 1).Advertising We will write a custom research paper sample on A Discussion of Key Challenges Faced by MNCs in Developing a Cohesive Inclusive Culture specifically for you for only $16.05 $11/page Learn More It therefore follows that one of the most fundamental features of MNCs as employers in host countries is their capacity â€Å"†¦to diffuse practices across boarders and that this process not only has the potential to drive change in national employment systems but can also influence, both positively and negatively, the competitive positions of the firms themselves† (Olusoji Oluwakemi 4). An explicit and detailed discussion of the challenges faced by MNCs as they attempt to diffuse national cultures and develop a cohesive and inclusive corporate culture is, therefore, necessary. Key Challenges Faced by MNCs in Developing a Cohesive Inclusive Culture It is indeed true that MNCs operate in diverse socio-cultural areas which present unique intercultural challenges (Olusoji Oluwakemi 4), and it is always beneficial for the enterprises to appreciate and account these challenges as they seek ways to address them as ignoring them only lead to embarrassing strategic and operational blunders, strain relationships, as well as drag down business performance (Chuang et al 444). This view is reinforced by other scholars, who suggest that multinational enterprises should find effective ways to deal with the ever-present and often confounding cultural issues that are ignited by employees who offer prominence to national cultures rather than reinforce and abide by the corporate culture (Almo nd 259; Fredriksson 408). One of the most rampant challenge facing MNCs today in their attempt to develop a cohesive and inclusive organizational culture is that of dealing with multiple identities and prejudices emanating from diverse national cultures. It has been explained in the literature that intercultural encounters reminiscent of MNCs do not habitually result in mutual understanding, in large part because of the fact that each group of employees still hold on to their identities as well as their internalized prejudices against others (Olusoji Oluwakemi 5). This particular author provides a real-life example that â€Å"†¦the notion [that] all British are diplomatic and all Dutch are stringy while all Chinese look alike still prevail in the minds of people who are now forced to work together in a multinational company† (5). The bottom-line, however, resonates around the fact that these multiple identities and prejudicial judgments against others make it difficult to rally employees behind the vision and mission statement of the MNC (Chuang et al 446), and also complicate the realization of competitive efficiencies and performance because employees increasingly view themselves as uniquely different (Vance et al 591).Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The second challenge faced by MNCs as they attempt to create a cohesive and inclusive culture is that they are forced to localize their operations and become embedded in the market of the host country, not mentioning that the enterprises are forced to rapidly comprehend the nuances of the local/national culture to an extent not required for centralized production operations (Chuang et al 445). Many multinationals, for example, have flooded the Chinese consumer market ever since the country relaxed operational rules in the 1990s, and also to benefit from low operating costs. However, upon entry into the Chinese market, these MNCs soon face the cultural challenge due to a strong national culture (Lucas 259), and are forced to shoulder immense costs associated with the implementation of localization practices (Chuang 445). Upon entry into this particular market, world-renowned MNCs Wal-Mart and Carrefour were not only forced to identify critical areas where the local Chinese culture wa s to be accommodated and to adapt their operations to meet the beliefs and value systems of local employees, but had to scale down their corporate identity to shed the bulk of their Western links in an attempt to become acceptable to the local population (Chuang et al 445). Consequently, it can be argued that the localization strategy has always presented challenges to the MNCs in that it undermines their institutionalized corporate identity and hence, their competitive advantage. This particular challenge is absent in domestic companies. The third challenge deals with the potential tension brought about by the national culture-corporate culture matrix in MNCs. Extant literature demonstrates that culture may, either positively or negatively, affect an organization because it intrinsically influences values, attitudes, perceptions, beliefs and expectations of people who provide their labor to the organization (Donmez 17), and that core values and beliefs are shaped by the national cu lture rather than the corporate culture (Chuang et al 447). It therefore follows that most employees bring their values and belief systems into the corporate culture of MNCs, facilitating tension and unproductive experiences that are absent in domestic companies with a homogenous workforce. Indeed, it has been noted in the literature that multinational enterprises â€Å"†¦employ the most diverse workforce and hence strive to promote organizational values that enable employees from different cultures to identify with the company and to share similar role perceptions† (Berson et al 1). Flowing from this assertion, it is most probable that employees who work for MNCs are unable to be fully productive in their work engagements due to the tension they face between their local/national cultures and the corporate culture of the enterprises. A recent study conducted on Cadbury Worldwide reveals that most African employees working for the company in Nigeria fear to raise importan t issues with their White managers as they feel uneasy talking to them and also confiding their thoughts and worries in them (Olusoji Oluwakemi 8). According to these authors, the Black employees, particularly those in the lower cadres of employment, feel that it is â€Å"un-African† for them to share their thoughts with foreigners. Such a predisposition, which is definitely absent in domestic companies operating in Nigeria, not only leads to an unproductive workforce but also occasions intense difficulties in attempts to develop a cohesive and inclusive corporate culture. Another challenge facing MNCs, which is intrinsically related to the challenge above, is that of developing a global culture and managerial role perceptions without necessarily upsetting local cultural values and beliefs (Berson et al 5). This challenge has been reinforced by other scholars, who argue that many expatriate managers fail to make any headway in leading MNCs due to lack of cultural sensitivity and perceived inadequate understanding that management practices are deeply rooted in culture (Firoz et al 40), but also as a consequence of lack of a clear understanding that some management practices or processes developed in one particular culture may not be easily transferrable to another culture without facing resistance (Fredriksson et al 408). China has been highlighted as a leading example where Western expatriates are consistently unable to develop a global culture and managerial role perceptions without having to upset the local/national culture that has been internalized by employees. A study conducted on the expatriate failure rates shows that about 76% of U.S. and European-based multinational enterprises doing business in China record a 10% to 40% failure rate, and that the leading cause of the noted failure is culture shock experienced by expatriate managers (Wu 171). The culture shock arises as many of these expatriates become lost in their attempts to popularize the ir organizations corporate culture in the midst of unfamiliar situations and diverse cultural norms and values. As observed by this particular author, this orientation brings a further challenge for MNCs in that most are unable to attract and maintain qualified workforce in the Chinese market. Overall, these challenges are known to affect the productivity and efficiency of expatriates, making them to become increasingly unenthusiastic and absentminded to a point of abandoning the working responsibility in their current positions (Wu 172). The last challenge, and perhaps the most widely discussed in the literature, is that of breakdown in communication. Extant literature demonstrate that â€Å"†¦to be clearly understood by persons who do not share our values, assumptions, or acquired methods of behaving, requires new competencies to lessen cultural differences† (Firoz et al 40). Most employees working for MNCs use different variables of communication due to their diverse cultural acquisition, implying that their thought systems, attitudes, and societal roles may somehow be different from the mainstream corporate culture set by the MNC. Arguably, these differences will definitely alter the way messages are received by employees as well as the impact of non-verbal communications, hand gestures and body positions, among other variables (Firoz et al 40; Fredriksson 408), leading to difficulties in communication between local staff and expatriate managers (Wu 171) and incapacity to develop a cohesive and inclusive organizational culture (Almond 268). Communication barriers are also thought to adversely affect the level and rate of knowledge transfer from the parent company to the subsidiaries (Lucas 258). Recommendations to the Challenges To successfully deal with the challenge of multiple identities and prejudices emanating from diverse national cultures, MNCs need to take concerted efforts aimed at developing a corporate culture of their own, which are uniquely different from the cultures of the workers employed or contracted by the enterprises (Olusoji Oluwakemi 5). Indeed, as explained by these authors, MNCs must strive to develop a culture that is not only holistic and historically determined in nature and context, but also socially constructed, soft and difficult to change owing to its internalized rituals, belief system as well as symbols. Extant literature demonstrates that â€Å"†¦there can be conflict within an MNC when new localized strategies are viewed as undermining institutionalized corporate identity† (Chuang et al 445). To remedy this scenario, therefore, MNCs operating in foreign soil not only need to standardize business practices to avoid the immense costs associated with localization, but also attempt to engage in partnership alliances with local firms to ensure the needs and expectations of local workers are taken into consideration (Vance et al 591). In making partnership alliances, the main driv e for managers, in my view, should be to create an enabling environment for the institutionalization of a corporate culture and identity even as they continue to recognize the fact that it is inevitable for national cultures to exist alongside the corporate culture. Managers must therefore aim to realize competitive efficiencies of these multinational enterprises by coming up with ways to reinforce the corporate culture while increasingly diluting the national cultures. MNCs must also develop frameworks to deal with the ever-present conflict between the pressures for global integration (standardization of processes) and local responsiveness (localization of processes). Specifically, multinational enterprises need to become aware of both environments and operate regarding the requirements of the origin and host environments for them to achieve competitive advantage and success (Donmez 18). Such frameworks, in my view, will definitely achieve success in enlightening employees on how t o reduce the tension orchestrated by the national culture-corporate culture matrix. These frameworks should provide employees of MNCs with the capacity to evaluate their roles based on their organizational identity and to some extent allow for the evaluation of roles and behavior based on their national culture. To successfully deal with the challenge of culture shock facing managers who lack the skills and experience to develop a global culture and managerial role perceptions without necessarily upsetting local values and belief, it is imperative for the MNCs to adequately prepare the expatriates and expose them culture-related training before dispatching them to the ground (Wu 172). Specifically, managers must be trained on building cultural synergies by identifying and building upon the very differences between the corporate culture and the national cultures for mutual growth and achievement by cooperation. Available literature demonstrates that â€Å"†¦cultural synergy thr ough collaboration emphasizes similarities and common concerns, and integrates differences to enrich human activities and systems† (Firoz et al 40). In terms of communication barriers, it is recommended that global managers be exposed to training to acquire skills in cross-cultural communications. Employees also need to be trained to be tolerant to other viewpoints and to accommodate the values and belief systems of other people, including their managers. Conclusion The present paper has discussed in detail some of the challenges that continue to affect MNCs in their quest to develop a cohesive and inclusive culture. In particular, this paper has discussed challenges of multiple identities and prejudices, localizing operations, tension, incapacity to develop a global culture and management roles without necessarily upsetting local cultural values and beliefs, poor knowledge transfer and communication barriers, and how these challenges disadvantage the realization of a cohesive and inclusive corporate culture for MNCs. Various viable alternatives for the mentioned challenges have also been provided. The immediate task, therefore, is for global leaders to initiate programs and policies that will actualize the recommendations in their respective MNCs. Works Cited Almond, Phil. â€Å"Re-visiting Country of Origin Effects on HRM in Multinational Corporations.† Human Resource Management Journal. 21.3 (2011): 258-271. Business Source Premier. Web. Berson, Y air, Miriam Erez and Seymour Adler n.d., Reflections of Organizational Identity and National Culture on Managerial Roles in a Multinational Corporation. PDF file. 16 Dec. 2012. https://ie.technion.ac.il/~merez/papers/13803_proceeding_final.pdf Chuang, Ming-Ling, James J. Donegan, Michele W. Gannon and Kan Wei. â€Å"Wal-Mart and Carrefour experiences in China: Resolving the Structural Paradox.† Cross Cultural Management: An International Journal. 18.4 (2011): 443-463. Emerald. Web. Donmez, Ozle m 2007, The Transfer of Organizational Culture in a Multinational Corporation. PDF file. Web. Firoz, Nadeem M., Ahmed S. Maghrabi and Ki Hee Kim. â€Å"Thinking Globally manage Culturally.† International Journal of Commerce Management. 12.3/4 (2002): 39-58. ProQuest. Web. Fredriksson, Riikka, Wilhelm Barner-Rasmusses and Rebecca Piekkari. â€Å"The Multinational Corporation as a Multilingual Organization: The Notion of a Common Corporate Language.† Corporate Communications: An International Journal. 11.4 (2006): 406-423. Emerald. Web. Lucas, Leyland M. â€Å"The Role of Culture on Knowledge Transfer: The Case of the Multinational Corporation.† The Learning Organization. 13.3 (2006): 257-275. Emerald. Web. Olusoji, George and Owoyemi Oluwakemi. â€Å"Impact of National Culture on the Management of Multinational Businesses: The Case of Cadbury Worldwide.† International Journal of Business Management Tomorrow. 2.7 (2012): 1-9. Academic Search Premier. Web. Scheffknecht, Sabine. â€Å"Multinational Enterprises — Organizational Culture vs. National Culture.† International Journal of Management Cases. 13.4 (2011): 73-78. Business Source Premier. Web. Vance, Charles M. and Yongsun Paik. â€Å"Forms of Host-Country National Learning for enhanced MNC Absorptive Capacity.† Journal of Managerial Psychology. 20.7 (2005): 590-606. Emerald. Web. Wu, Jianlian. â€Å"An Analysis of Business Challenges faced by Foreign Multinationals operating in the Chinese Market.† International Journal of Business Management. 3.12 (2008): 169-174. Emerald. Web. This research paper on A Discussion of Key Challenges Faced by MNCs in Developing a Cohesive Inclusive Culture was written and submitted by user Lina L. 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.

E-commerce cures hospitals essays

E-commerce cures hospitals essays 1. Review the EC applications listed and classify them as B2C, B2B, c-commerce, etc. Electronic commerce is basically divided in two parts: business-to-consumer (B2C) and business-to-business (B2B). B2C involves online transactions between businesses and individuals, while B2B transactions are between businesses. Another major category is collaborative commerce, which is an electronic collaboration between buyers and sellers. When implementing EC Kaiser Permanente put into service Internet-based communications system. The system included customized Web sites for each organization with which Kaiser had a contract. This is an example of c-commerce. Kaisers customers are whole organizations or individuals. When Kaisers brokers make a sale to an individual they do a B2C transaction. On the other hand when their customer becomes an organization with all its employees, it is considered B2B transaction. Other B2B examples are when doctors and other employees order supplies, equipment or services. The e-procurement system, which expedites shipments, reduces invent ories, and cuts costs is also a B2B application. An example of B2C application is when individual customers schedule appointment via the Internet or email queries. 3. Identify the EC applications related to supply chain management. According to the textbook, a supply chain refers to the flow of materials, information, and services, from raw material through factories and warehouses to the end customers. A supply chain also includes the organizations and processes that create and deliver these products, information, and services to the end customers. Kaiser Permanente links patients to hospitals and doctors. Its main service is to provide efficient health care. Implementation of EC improves the supply chain management. The goal is to change the supply chain from a linear model to a hub-based model. Digitizing the supply chain improved customer servi...

Statistics Project, Political Science Project Example | Topics and Well Written Essays - 500 words

, Political Science - Statistics Project Example The essay analyzes international politics comprehends state sovereignty, globalisation and international security, nuclear proliferation, ecological sustainability and nationalism, global finance and economic development, organised crime and terrorism, human security, human rights and foreign interventionism. The discussion highlights that the independent variable that was prevalent in these data sets was distribution of power in the global system. The dependent variable that stood out was foreign policy decision. The data sets could be found online by simply typing the name of the database and specify your topic later inside the site. The hypotheses developed include that states, all the times, act in line with their national interest/concern, or the interests/concerns of that state; the world is a dangerous place; a state’s main interest is self-protection; there is no overarching power, which can impose international rules and/or punish unlawfulness; ethical behaviour is extremely risky since it can affect a state’s capacity to safeguard itself; the global system itself influences states to apply military force; global institution and law have no force or power; they exist only provided that states acknowledge them, and; the wide ties among countries have both made it har d to describe national interest and diminished the worth of military power.This paper finds that distribution of power is negatively affected by international politics. This is because some nations seek to be above others.

The advantages and disadvantages of women in police Essay

The advantages and disadvantages of women in police - Essay Example It was, of course, the same male police administration that had refused over the years to assign women to general patrol and there by had blocked police women's access to the required experience2. However this trend could not be continued for long and they had to give the opportunity to women police. Finally when women were given the opportunity, as a result of Federal law mandating equal opportunity regardless of gender or race, to perform general police work and serve on patrol, they demonstrated their fitness for police work. Statistics point out certain facts about women police. In 2001, women accounted for only 12.7% of all sworn law enforcement positions in large agencies, 8.1% in small and rural agencies3, and 14.4% in federal agencies. Even though women gained an average of roughly half a percentage point per year within large police agencies from 1972 to 1999, there is increasing evidence that this trend is now reversed. For instance, the representation of women in large police agencies in 2000 and 2001 in reality declined from the year before i.e. from 14.3% in 1999 and 13.0% in 2000 to 12.7% in 2001. hence it can be clearly noted form these statistics that at the present rate, women will not achieve equality in large police agencies for several years to come. Obviously, if the similar trend continues barriers will continue to exist for women in the field of law enforcement4. There are advantages and also a few disadvantages of women in police force. As a result there is a controversy over how the women's policing style differs from men's style and also if this difference have any impact on overall policing. Many times it was observed by many of the researchers that women in the police service itself are reluctant to discuss these differences in styles. This is mainly because they think this may push them back into specialist positions that may have tremendous prestige but often limit good promotional opportunities. Many feminist groups, predominantly the U.S.-based National Center for Women and Policing, a project sponsored by the Feminist Majority, an activist feminist group in the U.S., believe that women's difference is an advantage5. Hence, they consider that, in many of the areas of police activity, women are especially adaptable and can even perform much better than men. There are certain unique works in policing that women can handle with more efficiency. For instance, policewomen are particularly suitable for working for special police prostitution groups, dealing with migrants in prostitution and trafficking in women within the larger cities. They are in fact becoming more and more experienced concerning working with police groups dealing with domestic violence and juvenile affairs. Policewomen are generally more acceptable to women and children who have been the victims of the misdeeds of men. In such cases girls and young children have more confidence in women. Today crime prevention is much more important than punishing for a crime after it occurs. The field of crime prevention is becoming more significant to police agencies and here policewomen play their greatest role. Women police are also gifted in gaining the confidence of children and in identifying antisocial

Organizational Behavior Concerning Change within the Workplace Term Paper

Organizational Behavior Concerning Change within the Workplace - Term Paper Example ABC Merchandise, a U.S-based manufacturer of sports products, is facing a pronounced downturn in business. Top management has decided to reduce its workforce. This managerial action is expected to improve the efficiency of the firm and, subsequently, to enhance its competitiveness. Their management is facing the question of how to go about downsizing and which downsizing strategy or strategies to adopt? A downsizing strategy directly, or indirectly, impacts stakeholders such as management and non-management employees, communities, suppliers, and customers. At issue is whether the savings from employee reductions may, under certain conditions, be more than offset by rising agency costs and other stakeholder costs. Studies conducted by Amundson, Borgen, Jordan, & Erlebach (2004) and Armstrong-Stassen (2004) have highlighted negative effects of firing and layoffs on surviving employees, which include high degrees of stress due to increased workloads and job insecurity, reduction in orga nizational commitment, and lack of trust in management. Therefore it is important that downsizing process must entail long term thinking and it should b done in the context of coherent plan. Downsizing: Impact on Stakeholders Not all downsizing outcomes are positive. The evidence continues to prove that downsizing is risky business, often leaving a legacy of inhumane management which targets only symptoms and in the long run destroys the future health of the organization. About half of the organizations never see the benefits expected from downsizing. Long-term decreases in labor costs are achieved by fewer than two-thirds of the organizations that downsize and less than half of the organizations realize any lasting improvements in profitability (Hopkins & Weathington, 2006). The simple fact is downsizing doesn't guarantee increased profits. Organization begins internal and external actions to reduce costs. If downsizing is selected, four steps follow: (a) planning for downsizing, ( b) communication of the workforce reduction, (c) implementation of the reduction, and (d) managing the new workforce (Mondy & Noe, 1993). Each of these steps has associated human resource issues. During the planning stage, rumors and unintended organizational messages are a problem, because the anticipation of reductions interferes with communication. During the actual reductions, coping with the reduction activity is the chief concern. Finally, when managing the new workforce, survivor issues emerge. All of these lead to reduced organizational effectiveness indicated by increased turnover and decreased productivity (Mondy & Noe, 1993). Companies often manage to eliminate the right numbers of people in the wrong areas or lose some of the best minds, especially if cost cutting is the driving force (Mondy & Noe, 1993). New employees must be recruited and trained, contractors hired, or ex ­-employees brought back as contractors. All of these situations create problems. Unfortunately, the increased costs for training the workforce, working necessary overtime, contributing to retiree health benefits, and making severance payments catch organizations unprepared for the total expense. Prospective employees are likely to avoid a

Impact of Inflation and Real Wages on Labor Productivity

Impact of Inflation and Real Wages on Labor Productivity 1.1 Overview The study attempts to determine the relationship between inflation, real wages and labor productivity. Inflation is an increase in the average level of prices of goods and services in an economy over a period of time, not a change in any specific price. When the general price level rises; each unit of currency buys fewer goods and services. Output is the amount of goods and services by a firm, industry, or country. For output variable the index of value added is used. Nominal wages are the Average Annual Earning in Perennial Industries. Real wages are the wages that have been adjusted for inflation. Real wages are obtained by deflating the nominal wage index by the consumer price index (CPI). 1.2 Problem Statement The objective of the study is to find out the impact of Inflation Real wages on Labor Productivity. 1.3 Hypotheses H1. There is an Impact of Inflation on Labor productivity H2. There is an Impact of time on Labor productivity H3. There is an Impact of Real wages on Labor productivity H4. There is an Impact of time on Real wages. 1.4 Outline of the study The scope of this research was to find out the impact of inflation and real wage on labor productivity. The data was collected from state bank of Pakistan and through various websites. CHAPTER 2: LITERATURE REWIEW Malik and Ahmed, (2001) studied that Information on income levels was essential in evaluating the living standards and conditions of work and life of the employees. Since nominal income failed to explain the purchasing power of employees, real income was considered as a major indicator of employees purchasing power and was used as proxy for employees level of income. Any variation in the real wage rate had a significant impact on poverty and the distribution of income. When used in relation with other economic variables, for instance employment or output they were valuable indicators in the analysis of business cycles. The aim of the adjustment program was to increase national income or output in such a way that it resulted in fair distribution of wealth. That was, the two objectives of enhanced growth and reduced poverty were being followed through more efficient use of resources and policy instruments like exchange rates adjustment, monetary and fiscal policies, and banking sector reforms to improve cash-flow position (Irfan, 2008). The relationship between real wages and output was intricate and also inconclusive. Regardless of the truth, which method of estimation was used or which deflator was used for the real earnings the results remained the same. Only different time periods (for the manufacturing sector) have changed the cyclical nature of the real earnings. For the manufacturing sector the real earnings had turned out to be counter-cyclical. While for agriculture, transport and communication, construction and the overall economy real earnings is pro-cyclical, i.e., real earnings tend to increase with economic growth and increases in real earnings rate tend to reduce poverty. Its the other way round in the manufacturing sector. Its important to mention here that the measure of nominal earnings used for manufacturing was different from the measure used for other sectors and the overall economy (Irfan, 2008). Productivity was the fundamental determinant of distinction in living standards, often measured as GDP per capita, across countries and across regions within a country. Over a longer term, productivity growth was the only way to sustain improvements in living standards or quality of life (Krugman 1994). It provided the economic base for investment in education, environmental improvement, health, infrastructure, poverty reduction, and social security. In addition, it was a key determinant of international competitiveness. Given its importance, improving productivity had become an essential national agenda for many countries. That had led to an emphasis on understanding factors that lead to higher, or lower, productivity growth in both research and strategy (Tang and Wang, 2004). Individual industrial contributions to cumulative labor productivity increase, which often requires decomposing cumulative labor productivity increase into industrial components. When real output was additive, that is, the cumulative real output was equal to the sum of the real outputs of its industries, the decomposition was straight forward. The only problem was that the decomposition was susceptible to the choice of base year. In other words, an industrial contribution calculated based on base year t was different from that based on base year s. That takes places because output prices change over time at different paces across industries. (Tang and Wang, 2004) It was usually expected that industries with high productivity growth and thus declining real output prices attract demand and accordingly increase employment shares. Why do the observed facts in the two countries run against this expectation? One possible explanation was that income effects had reduced the demand for manufactures, which broadly speaking became a satisfied market whereas the expansion, especially of personal service, suffered from rising relative prices (ten Raa and Schettkat, 2001). Another possible explanation was that increased female labor force contribution resulted in a substitution of market purchased served for home produced services (Grubel and Walker, 1989). An industrys input from an increase in relative size to aggregate labor productivity growth could be wellbeing improving or reducing, depending on its causes. For example, if an increase in the real output price of an industry hence an increase in its relative size was caused by an increase in demand for the output of the industry (an upward shift in the output demand curve), then it was wellbeing enhancing, because it increased both consumer and producer surpluses. On the other hand, if an increase in real output price was caused by a decrease in output supply (e.g., due to a natural disaster) or an upward move in the output supply curve (e.g., due to an increase in production costs from events such as real earnings increases), then it was wellbeing reducing, because it reduces both consumer and producer surpluses. Thus, from a wellbeing perspective, failure to report for the causes of change in relative size could create a confusing perception of an industrys contribution to aggreg ate labor productivity (Tang and Wang, 2004). Taylor (1990) found that the value of productivity in an open economy was distributed among at least three parties: Profit recipients, workers and the rest of the world. There are two key nominal prices: the exchange rate, which is established by policy, and the money wage, which follows from institutional considerations. A change in one with the other constant is bound to have effects on distribution and productivity, by changing the profit share, the real wage or the real exchange rate. In an open economy in which non-competitive intermediate imports were an important component of cost, currency devaluation derived up prices and reduced the real earnings. Output reduction could easily follow if exports were not strongly elastic to exchange rate changes. When devaluation is contractionary, then money earnings increases make output to go up. Under such circumstances, a successful tight money policy that derived down nominal earnings to ratify the equation of exchange reduced output and improved the trade account. The reduction had been offset by fiscal growth, but in an orthodox stabilization attempt that has been a strange move. (Taylor, 1990) Prices did not rise before the earnings demands had been made and accepted: in a large segment of a modern economy prices were administered ones. Thus in these segments excess of demand evident itself in deficiency rather than in a rise of prices, as the over riding objective of maximizing profits over time (and the fear of price wars) keep oligopolistic competitors from meeting excess demand by increasing prices to the short-run maximum. Thus there were always un-liquidated monopoly increases which permit earnings increases (and which would be taken once a general increase of costs reduces the inhibition against raising prices (Balogh, 1958). A detailed analysis of production, productivity, earnings and prices, both in domestic and in international dealings, irresistibly and increasingly leads away from the explanation of the continuous raise in current prices here and somewhere else by the excess of money demand, and in particular by the raise in the volume of money. Separately no entrepreneur could grant wage increases as it was difficult to bypass the addition to costs by increasing prices. But if all (or most) entrepreneurs were faced with almost the same wage demands, and react to them in more or less with the same manner, experience has taught that it was safe to agree to those demands: it was the increase in income due to the wage bargain (including of course the increased profit) that provided the additional demand required to sell output at the improved price. There was no need to hypothesize a hidden, unspent or dormant, excess demand which became active. The myth of those who were looking for the unseen and unseen able was that all applied the ceteris paribus (With all other factors or things remaining the same) method to a situation where it was changed by itself because it was of a limited and not of a minute magnitude. Provided that the process was general, as it was, and repetitive, as it was bound to be, if single earnings good dea l overshoot the average, as they were bound to do, there was nothing to stop it from speeding up its velocity as anticipations of further earnings and prices increased enlarge speculation (Balogh, 1958). CHAPTER 3: RESEARCH METHODS 3.1 Data Collection The data was collected from state bank library and searched through various internet search engines e.g. jstor and Google scholar for articles, index mundi and UN website. 3.2 Sampling Technique Convenience sampling was used as data was not collected from the companies but it was collected from state bank of Pakistan. 3.3 Sample Size: 30 annual observations of real wages, inflation and labor productivity are taken for this study. 3.4 Research Model The following research model was used Labor productivity = ÃŽÂ ± + ÃŽÂ ² (real wage) LP= -1.472E12+3.3909E11RW 3.5 Statistical Technique Regression analysis was applied. CHAPTER 4: RESULTS ANALYSIS 4.1 FINDINGS AND INTERPRETATIONS H1. There is an Impact of Inflation on Labor productivity. Table 4.1 ANOVA Sum of Squares Df Mean Square F Regression 6.022E21 1 6.022E21 .001 Residual 2.623E26 27 9.713E24 Total 2.623E26 28 The independent variable is CPI inflation. Impact of inflation on labour productivity is studied through curve estimation. As data was not normal, linear, ln , exponentiate , inverse transformation was applied. Significant relationship was not found even after applying transformation as it is evident by the sig value of .98 which is greater thatn .05. H2. There is an Impact of time on Labor productivity Table 4.2 Model Summary R R Square Adjusted R Square .998 .995 .995 The independent variable is YEAR. Table 4.3 ANOVA Sum of Squares Df Mean Square F Regression 81.851 1 81.851 7528.575 Residual .391 36 .011 Total 82.242 37 The independent variable is YEAR. Table 4.4 Coefficients Unstandardized Coefficients Standardized Coefficients t B Std. Error Beta YEAR .134 .002 .998 86.767 (Constant) 2.282E-104 .000 . The dependent variable is ln(All Industries output). There is a positive impact of time on labour productivity. Sig value is less than .05 therefore it is significant. It means there is an Impact of time on labour productivity. Its constant value is H3. There is an Impact of Real wages on Labor productivity. Table 4.5 Model Summary R R Square Adjusted R Square .862 .743 .732 The independent variable is realwage. Table 4.6 ANOVA Sum of Squares Df Mean Square F Regression 7.068E25 1 7.068E25 69.357 Residual 2.446E25 24 1.019E24 Total 9.513E25 25 The independent variable is realwage. Table 4.7 Coefficients Unstandardized Coefficients Standardized Coefficients T B Std. Error Beta ln(realwage) 3.909E11 4.694E10 .862 8.328 (Constant) -1.472E12 4.929E11 -2.986 LP= -1.472E12+3.3909E11lnRW As its sig value is H4. There is an Impact of time on Real wages. Table 4.8 Model Summary R R Square Adjusted R Square .728 .529 .510 The independent variable is YEAR. Table 4.9 ANOVA Sum of Squares Df Mean Square F Regression 244.833 1 244.833 26.998 Residual 217.648 24 9.069 Total 462.481 25 The independent variable is YEAR. Table 4.10 Coefficients Unstandardized Coefficients Standardized Coefficients t B Std. Error Beta YEAR .409 .079 .728 5.196 (Constant) -805.624 156.901 -5.135 Sig value is less than .05 therefore it is significant. It means there is an Impact of time on Real wages. Its F value is 26.99. Its Adjusted R Square is .510 4.2 HYPOTHESES TESTING After applying the statistical test and based on the p (sig.) values, researcher has obtained all the tables and results have been provided in the following table three hypotheses were accepted and one hypothesis was rejected. 4.2.1 ACCEPTED HYPOTHESES H2, H3 H4 is the accepted hypotheses. 4.3 HYPOTHESIS ASSESSMENT SUMMARY Table 4.11 Hypothesis R Square F Significance Value Empirical Conclusion H1: There is an Impact of Inflation on Labor productivity .001 .98 Rejected H2: There is an Impact of time on Labor productivity .995 7528.57 .000 Accepted H3: There is an Impact of Real wages on Labor productivity .743 69.357 .000 Accepted H4: There is an Impact of time on Real wages. .529 26.998 .000 Accepted CHAPTER: 5 DISCUSSIONS, IMPLICATIONS, FUTURE RESEARCH AND CONCLUSIONS This study empirically tested the relationship of inflation, real wage and labor productivity Inflation and real wage were the measures which are the predictors of Labor productivity. Initial estimation was that there is an impact of inflation on labor productivity, there is an impact of time on labor productivity, there is an impact of real wages on labor productivity and there is an impact of time on real wages. Jarret and Selody (1982) had considered that inflation and productivity growth are negatively related. Inflation diminished the incentive to work, distorted the informational content of relative price levels, and contracted tax reductions for depreciation. Studies suggested there was a negative relationship between inflation and productivity. It was assumed that there is a positive relationship between real wages and productivity because higher real wages increased the opportunity cost of job loss and stimulated greater work effort to avoid job loss. That positive relationship was also assumed because higher real wages put upward pressure on labour costs and cause firms substituted capital for labour, thus increasing the marginal productivity of labour (Wakeford, 2004). The results supported the conclusion that inflation has no effect on the labor productivity as its analysis showed it is not significant after applying regression analysis. Real wage have significant impact on labor productivity and real wage have positive relationship with labor productivity. Its results showed that relationship between Real wages and labor productivity is significant and 74% of variation (table 4.5) in labor productivity was explained by Real wages. Where as time has a positive relationship with real wage as well as with labor productivity. Further research should be carried out to study the relationship of inflation and labor productivity in the future as other variables (which could have relationship with inflation) are not included in this research.

The Influence of Bob Marleys Absent, White Father :: Bob Marley Essays

â€Å"My fadda was a guy yunno, from England here, yunno? Him was like†¦like you can read it yunno, it’s one o’dem slave stories: white guy get the black woman and breed her. He’s a English guy†¦I t’ink. Cos me see him one time yunno. My mother? My Mother African.† (Bob Marley, 1978) The psychological aftermath of being an abandoned child of a biracial marriage was something that heavily influenced reggae superstar Bob Marley for his entire career. Many of Marley’s most loyal fans and the vast majority of reggae enthusiasts are unaware that he was, indeed, born to a white father, Captain Norval Marely, and a black mother, Cedella Booker. Bob Marley grew up angry with his father who he felt had mistreated him and his mother. Marley was also partially ashamed of his white heritage. This childhood mentality of resentment and embarrassment sculpted Marley’s youth and eventually influenced the ideals and work of his musical genius for his entire career. The sentiment of abandonment and the lack of a father figure forced Bob Marley to look to other means, like the ideals of Rastafarianism, for direction, comfort, and a sense of belonging. The strong allegiance to black culture that resulted from the absence of his white father also partially attribut ed to Marley’s unwaveringly sense of Pan-Africanism. The imperfections and almost total absence of Bob Marley’s Caucasian father, Captain Norval Marley, had a profound psychological influence on the great reggae icon. The effects of racial issues on human nature and thought are highly debated and viewed quite sensitively by many. Often, people even find their feelings and observations difficult to discuss with regard to the subject matter. With this in mind, it needs to be stated that Bob Marley was not a bigot in any way. In reality, Marley was a â€Å"missionary for a form of personal and collective identity he called â€Å"Rasta† a word that both signified a history of racial oppression, and pointed to a definition of community beyond the language of race† (Stephens 149). It should also be stated that Marley was a member of the early movement of Rastas who were rooted in Garvey’s Black Nationalism, and in an ancient tradition of â€Å"Africanized† Christianity known as Ethiopianism (Stephens 149). Early Rastas adopted the ideals of Kenyan anti-colonial rebels, their call to action being: â€Å"Death to the white oppressor† (Stephens 149).

Depression and African-American Men Essay

First of all it is important to understand what really constitutes depression. All of us feel down from time to time perhaps based on having a â€Å"bad day†. However when feelings of sadness last for several weeks, months, or years, and are accompanied by other symptoms such as change of appetite, isolation from family and friends, sleeplessness, etc. these are symptoms of depression. In 1999 Dr. David Satcher, Surgeon General of the United States, and an African-American, released a Report on Mental Health that was a landmark moment for America. This was the first comprehensive report on the state of the nation’s mental health issued by America’s â€Å"physician-in-chief.† It is both an inventory of the resources available to promote mental health and treat mental illness, and a call to action to improve these resources. It paints a portrait of mental illness, filling the canvas with the faces of America, revealing that the effects of mental illness cut across all the nation’s dividing lines, whether gender, education, economic status, education, or race. However, the 2001 supplement to the original 1999 report indicates that it probably affects African American men more adversely than it does the general population.†Mental Health: Culture, Race and Ethnicity,† which is the title of the supplement by Dr. Satcher, says that â€Å"racial and ethnic minorities collectively experience a greater disability burden from mental illness than do whites.† The supplemental report goes even deeper in that it highlights the disparity that exists for black men in mental health as it does in relation to most health problems. For example, African-American men are more likely to live with chronic health problems, and studies show that living with chronic illnesses increases the risk of suffering from depression. In a 2002 report, â€Å"The Burden of Chronic Diseases and Their Risk Factors, † the Federal Centers for Disease Control and Prevention points out that African American Men have the highest rates of prostate cancer and hypertension in the world. The report also says that black men are twice as likely as white men to develop diabetes, and suffer higher rates of heart disease and obesity. The American Cancer Society’s report entitled â€Å"Cancer Facts and Figures†, and written in 2003 found that black men are more than twice as likely as white men to die from prostate cancer. We are also more likely than others to wait until an illness reaches a serious stage before we seek treatment. Often times treatment is not sought until we are in emergency rooms, homeless shelters, or prisons. According to a report by the Congressional Black Caucus Foundation in 2003, men in general are three times less likely than women to visit a doctor, and African-American men specifically are less likely than white men to go to a doctor prior to them being in poor health. This is the case for physical ailments. When one factors in the stigma attached to mental illness, and other barriers that keep us from getting help, it is easy to see why black men are even less likely to seek treatment for depression. Yet, the nation, including the African-American community is often silent on this issue. The silence on the subject among blacks is due, in part, to our lack of vocabulary to talk about depression. We call depression â€Å"the blues† in the black community. We have been taught, at least in the past, and, to a certain extent even now, to shrug off this mental state. For many of us, it is not just a fact of life; it is a way of life. When bluesmen used to sing, â€Å"Every day I have the blues† or â€Å"It ain’t nothing but the blues† or similar words from hundreds of songs, they do more than mouth lyrics. They voice a cultural attitude. They state an accepted truth at the heart of their music: Having the blues goes along with being black in America. In addition, from the time we are young boys, black males have ingrained into us an idea of manhood that requires a silence about feelings, a withholding of emotion, and ability to bear burdens alone, and a refusal to appear â€Å"weak.† The internal pressure to adhere to this concept of masculinity only increases as we sometimes experience various forms of racism in a society that historically has sought to deny us our manhood. The internal wall that often keeps black men away from psychotherapy goes along with external barriers built just as high, if not higher. Mental health practitioners are overwhelmingly white, with the proportion of black psychiatrists, psychologists, and psychoanalysts estimated at less than three percent of the nation’s total. This would mean that even if black men were to break through the self-imposed barriers and seek professional help for mental issues, it may be difficult to find someone with whom they can build a rapport, and whom they feel can relate to them, and they can trust. This feeling of comfort is what allows a patient to reveal his most intimate secrets. As Dr. Richard Mouzon, a prominent black clinical psychologist puts it, â€Å"Many of us grow up feeling that it is dangerous to give up too much of yourself to the white man.† There’s no denying that access to mental health care is restricted for Americans in general. In private health insurance policies and government medical assistance programs, psychotherapy is too often considered a luxury rather than a necessity. It has been said often times that the only people with a guaranteed right to health care are the inmates of our jails and prisons. That is even more true of mental health care.Unfortunately, this is a right that is of marginal value; while many black men receive their first treatment for mental illness behind bars, that treatment is likely to be directed at keeping them under control rather than alleviating the effects of their illness. Our health care system assures preventative measures and early intervention for mental health problems only to the privileged, just as it does for physical health problems. The disparity is so great in minority communities that for many, mental illness receives attention only when it reaches a florid stage, in public hospitals’ emergency rooms and psychiatric wards, or worse, in its aftermath, when people with mental illness may end up behind bars and in morgues. According to a new study reported on by the † Health Behavior News Service†, jobless African-American men appear to be at a greater risk of suffering from depression. While the issue of unemployment offers at least one possible explanation for why the symptoms of depression might be experienced, more puzzling is the fact that African-American men who were making more than $80,000 per year were still at a higher risk for depression. In order to come to their conclusions, Dr. Darrell Hudson, Ph.D., and his fellow researchers carefully screened the data provided by the â€Å"National Survey of American Life.† During their analysis, they took into account how much various factors such as social class, income, education, wealth, employment, and parental education level related to depressive symptoms. â€Å"After measuring depression in a very comprehensive way, the results were not very consistent. We need to figure out as a general public: Is there a cost associated with socioeconomic position or moving in an upward trajectory?† said Dr. Hudson. For the purpose of the research 3,570 African-American men and women who experienced depressive episodes within the past year of their lives were studied. Men who made over $80,000 per year reported more symptoms of depression than those making less than $17,000 per year. However, unemployed black men were more likely to report depression during that year compared to employed men. Men who completed some college or beyond were less likely to experience depressive symptoms than those who did not complete high school. Women, on the other hand, did not appear to suffer the same rates of depression. Females who earned between $45,000 and $79,000 were less likely to report symptoms of depression than those with the least income. The study appeared in the journal â€Å"Social Psychiatry and Psychiatric Epidemiology.† According to Dr. Hudson: â€Å"One thing could be going on with African-American men with greater incomes. The more likely they are to work in integrated settings, the more likely they are to be exposed to racial discrimination. Racial discrimination can undermine some of the positive effects of socioeconomic position like the increased benefits of more income.† Some black men who suffer from depression may think suicide is the answer. It is not. Men that become suicidal don’t realize that they are repeating the cycle, burdening their children with the same loneliness the father had endured. Their kids would grow up with the knowledge that their father had taken his life. Depression can be very paralyzing to African-Americans. This vile illness affects men from all walks of life, from the black executive to the young street hustler. In many documented cases, several socially advanced black men have suffered from depression for many years and refused to receive treatment. This is a very disturbing undercurrent. If educated, accomplished, and highly informed black men refuse to seek treatment for depression, just imagine how difficult it is for uneducated or poor black men to seek help. Some experts believe that depression is likely a key factor in a 233 percent increase in suicide in black males ages 10-14 from 1980 to 1995. According to Dr. Satcher: â€Å"Black men feel that they have to be twice as good as other people, that you can’t be weak because people will take advantage of you. Those pressures work powerfully against a black male seeking treatment for depression and other mental illnesses.† About one in four African-Americans is uninsured, compared with about 16 percent of the U.S. population overall. African-Americans are less likely to receive antidepressants, and when they do, they are more likely than whites to stop taking them. Particularly troubling to those who study and treat mental illness in black men is their disproportionately higher rates of incarceration than other racial groups. Nearly half of the U.S. prison population is black, and about 40 percent of those in the juvenile justice system is black. It is a very difficult and very serious situation for these young men and for society. Psychiatrists who work with the homeless as well as with black youth say they see dozens of black males each year head to jail or juvenile justice when they should be in treatment centers.They blame,in some form or another, depression, or other related mental illnesses. â€Å"It happens all the time and it’s very alarming,† said Dr. Raymond J. Kotwicki, Medical Director of Community Outreach Programs, Department of Psychiatry and Behavioral Sciences, at Emory University School of Medicine, in a recent statement. While all mental illnesses often come wrapped in some sort of stigma or negative connotation, mental illnesses in black men are even more entangled. Historical racism and current cultural biases and expectations all play a part, mental health advocates say. Nearly two-thirds of African-Americans believe that mental illness is a shortcoming that can be overcome through prayer and faith, according to a study by the National Alliance for the mentally ill. Certainly prayer and faith may be helpful to someone suffering from mental illness, but is not a replacement for treatment by a professional. The neglect of emotional disorders among men in the black community is nothing less than racial suicide.Many experts argue that the problem of depression in black America can be traced back to the time of slavery, when it was believed that blacks were unable to feel inner pain because they had no psyche. This myth has damaged generations of African-American men and their families, creating a society that sometimes has defined black men as being violent and aggressive, without considering that depression (or other related mental illnesses) might be one root cause. The consequences of untreated mental illness can be dire. And the tragedy of the worst outcomes can be no greater than when the disorder is depression, one of the most common and treatable mental illnesses. The disease is painful, and potentially fatal, but eighty percent of those who get treatment get better. Yet, quite sadly, only twenty-five percent of those who need help get it. African-American men are especially prone to put ourselves in mortal danger because we readily embrace the belief that we can survive depression by â€Å"riding out† the illness and allowing it to run its course. The internal walls we build to keep out the world, along with the walls that society sometimes builds to isolate us, cut us off from the help we need. So we suffer, and we suffer needlessly. Please do not be ashamed of seeking help if you feel that you are suffering from depression, or any mental illness. There are very likely resources right in your own city or town such as a county Mental Health Center, even if you are uninsured. Those who are insured may choose a private hospital or psychiatrist, but don’t hesitate to get help. One resource that is available would be to call 1-877-331-9311, or 1-877-568-6230 to talk to a specialist at any time. This could change your life immensely, and could indeed save your life.