BTN2-10 Coursework Example | Topics and Well Written Essays - 250 words - 1

BTN2-10 - Coursework Example The ratio reveals the dependency level of a firm on loan to runs its operation (Rodgers, 23). The formula for this ratio is (total debt/total asset) * 100. Low debt ratio is advisable that is 50%, and below because a high debt ratio turn away potential investors. There is a high chance of a firm to be declared bankrupt when the debt ratio is too high. Samsung, Apple, and Google had the following Debt ratio of 32.9%, 32.9%, and 23.5% respectively. Apple and Samsung have an equal debt ratio of 32.9% in this comparison thus, tend to be risky. Analyzing ROA for Samsung and Apple, Samsung has the lowest; therefore it can be considered the riskiest firm to invest. The recommended maximum level of debt ratio is 50% and all the three firms operate below it. For one to be successful in stock market like Warren Buffet, critical analysis need to be conducted on the financial performance of the interested company. One needs to consider profitability and risk level of the interested firms. In this case, Apple and Google can be considered on the basis of high profitability level of Apple, while Google low risk level. It should be noted that an investor will look for a high return from the investment. According to (Elton, & Gruber, 41), the higher the return, the riskier the investment, and, therefore, sound decisions need to be done. Comparing the risk versus return of the two firms one can make a sound decision on which firm to invest. For Apple return versus risk is (32.9/28.5=1.2), while for Google is (23.5/12.9=1.8). Apple has the lowest ratio, thus it is the best firm to invest in and get better

Nike Research Paper Example | Topics and Well Written Essays - 1750 words

Nike - Research Paper Example This is to say that the company is one of the richest companies in Oregon. Mission statement and goals Nike’s Mission statement is: To bring inspiration and innovation to every athlete in the world. According to Bill Bowerman, everybody who has a body is an athlete. The company therefore aims at bringing inspiration and innovation to the entire humanity. The company has five goals for its business processes. These are, to provide an environment which develops individuals to maximize their contribution to Nike, to provide innovative and quality products and services both internally and externally, to identify consumer segment opportunities that are focused, to establish and nurture good emotional ties with groups of consumer and to maximize profits (nikerepository.com 1). History and products Nike was founded in January 1964 by Philip Knight, a track athlete in the University of Oregon, and his coach Bill Bowerman. They gave the company the name Blue Ribbon Sports . Initially, the company operated as a distributor for Onitsuka Tiger (the current ASICS), a Japanese shoe maker. At that time, it was making high sales at local track meetings and other evens related to sports out of an automobile that belonged to Knight. The company grew rapidly and opened its first retail store in 1967. By 1971, its relationship with Onitsuka was almost ending and Blue Ribbon Sports prepared to launch its own line of shoes that would bear the Swoosh latest designed by Carolyn Davidson (nikerepository.com 1). In January 1971, Nike first used the swoosh and released its first group of products named Nike and bearing the swoosh. Their first products were brands of truck running shoes. In 1978, Knight and Bowerman changed the name of the company to Nike corporation. By 1980, the company had taken over almost half of the athletic footwear market even without TV advertisements. Since then, the company has expanded and as of November 2008, it had acquired some companies to become it s own major subsidiaries. These are Converse Inc, Umbro, Cole Haan and Hurley International and Nike Golf. Other Nike subsidiaries are Bauer NIKE Hockey Inc and Exeter Brands Group LLC. Nike produces a vast range of sports equipment and sportswear. Currently, the company produces a variety of shoes, shorts, jerseys, baselayers and other types of sportswear designed for use in a range of sport like basketball, ice hockey, cricket, tennins, lacrosse and other track and field sports. The name Nike is the name of a Greek goddess of victory and Nike Corporation markets all its products under its own name. This also include Nike Pro, Nike Golf, Nike+, Nike Skateboarding. Some of the products produced or sold by its subsidiaries are marketed under different brand names for example Air Jordan/Jordans which are sold by its Jordan brand subsidiary. Manufacturing, marketing and supply chain In order to meet its global demand, Nike has contracted over 700 shoe factories and these factories are now manufacturing Nike-branded products. Most of the contacted factories are located in Asia including China, India ,Indonesia, Vietnam, Pakistan, Taiwan, Thailand, Philippines and Malaysia. CRS Wire. (2005). Manufacturing and marketing is therefore achieved is therefore through subsidiaries and contracted companies. Currently, the company operate in over 160 countries globally. Nike recognised the need develop a well-coordinated and efficient SC for the

Managing in a Global Economy Essay Example for Free

Managing in a Global Economy Essay Hollister Co. is an American lifestyle brand by Abercrombie Fitch Co. The company was launched by July, 2000. It is headquarter at New Albany, Ohio. Till 2012, Hollister already has 571 stores in the world [Appendix 1]. Like its parent company, Hollister sells casual apparel which include knit layers, tanks , graphic tees, polo shirt, plaid, classic, sweaters, hoodies, outwear, jeans, pants shorts, skirts, dresses, sweatpants, and yoga; and the accessories which include totes, belts, socks, and fragrance. The concept was originally designed to attract consumers aged 14–18, at a lower price than the parent brand through its California-style inspired image and casual wear. Goods are available in-store and through the companys online store. It was ranked as the second most preferred clothing brand of US teens on a long list of actual West Coast companies in 2008 by Piper Jaffray. (Hollister official website, 2012) According to Abercrombie Fitch’s latest 10-k form, Hollister’s net sales in 2011 and 2010 are $2,022,002,000 and $1,552,814,000, separately. There is 30% increase of net sales from 2010 to 2011. Based on the data, we can figure out that Hollister’s net sales are almost two times to its parent company. Foreign Markets Expanding Motivation The motivations for Hollister to expand in foreign markets will be defined as two categories. First of all, Abercrombie Fitch wants to get rid of its lower sales in U.S market and earn profit from outside expansion. Abercrombie began to launch its expansion plan outside the USA since 2007, driven at least in part by a weakening of its domestic market. For the quarter ended July 28, Abercrombie reported a profit was dropped by nearly 52%. According to media reports, more than 135 of its American stores have been closed since 2010 and there will be 180 closures in the following year. However, based on Abercrombie Fitch’s 10-k form, the net sales of international stores are increased steadily. The company therefore has high hopes for the European and Asian markets, where its expansion is being pushed forward. (WSJ, 2012) Hollister, as one of its subsidiaries, plays a crucial role in the expansion plan because it has good performance with higher net sales and large numbers of sh op. Another reason for Abercrombie Fitch is Asia apparel market is keep growing. Asia’s fashion and apparel market will continue to grow at a healthy clip through 2011-2015. The reason why we focus on Asia area is because as forecast last year, clothing demand in Asia is higher than the demand in Western Europe and North America in 2011 [Appendix 2]. â€Å"Many economists predict that demand will be driven by rising personal disposable income levels and an increased focus on fashion apparel, especially in the main cities.† Said by Carrie Yu. As we known, many foreign apparel brands are already present in Asia, and they will spread steadily. Here we have a figure to show the market demand growth in different Asia countries [Appendix 3]. After analysis the data and GDP per person at purchasing-power parity [Appendix 4], we choose three countries-Japan, Singapore and Hong Kong-that are good for Hollister to expand in. Three Study Countries: Singapore, Japan and Hong Kong Japan Our first choice is Japan. Here we have two reasons to support our idea. First of all, it goes without saying that Japan is one of the most potential countries in Asia. For years, Japan has been Asias richest and most powerful economy. It was the first Asian economy to industrialize, and the emerging Asian tigers—Hong Kong, Singapore, South Korea. There are three advantages for Japan to become a good expansion country. Firstly, the economy of Japan is the third largest national economy in the world after the United States and the Peoples Republic of China and is the worlds second largest developed economy (Oced library, 2010). According to the International Monetary Fund, the countrys per capita GDP was at $34,739 or the 25th highest in 2011. Besides, according to Wipo resources, Japan is the worlds 3rd largest automobile manufacturing country, has the largest electronics goods industry, and is often ranked among the worlds most innovative countries leading several measures of global patent filings. Summing up all these data, we can figure out that Japan is a growing market. Strength The strength for Japan is it got the high purchasing power. According to Appendix 5, the GNI of Japan is 45180 US dollar in 2011, while GNI of US is 48450. However, it doesn’t mean that the purchasing power of Japanese is lower than America citizen. The consumer spending is enormously high in Japan. Spending is an important role of consumers. Consumer spending plays a significantly economic factor since it usually coincides with the overall consumer confidence in a nation’s economy. High consumer confidence indicators usually relate to higher levels of consumer spending in the economic market. Consumer confidence provides governments and businesses with an analysis on consumer perception. (EconomicsHelp, 2011) From CIA factbook, we can figure out that Japanese is the third country which got higher purchasing power parity toward to Asia area, besides China and India. Moreover, The Japanese are very loyal to foreign prestigious fashion brands such as Louis Vuitton and Gucci. The sales of these companies have been growing steadily with support from young consumers. As a subsidiary of Abercrombie Fitch, Hollister must play a leading role in fashion trends if we focus on marketing promotion. Weakness The main weakness for Japan divided by two parts. Obviously, the first weakness is the unpredicted geography phenomenon. Everybody knows that Japanese business have got a tough time by tsunami and earthquake in recently years. These two disasters are having large negative economic effects on Japan since it is a major role in global supply chain and as a producer of final products. Based on this fact, we think Japan is not a good place to set up facility in order to produce clothes. Second of all, According to Reuters (2011), Japans new government faces a dilemma over how to keep its campaign promises while reining in huge debt, a fragile economy that could slip back into recession, and strains in ties with close security ally the United States. Thusly, we think Japan will not be an appropriate country because it got unstable political risk. Opportunity No doubly that Japan is the core of fashion in Asia area. It is famous by its creativity and design toward to the whole world. As a result, as an apparel company, Japanese market has potential opportunity to be entered. According to Japanese fashion market report (2011), here we have two advantages to prove that Japan is a country full of fashion. 1. Japan is a critical fashionable country because it holds many fashion events annually. Thusly, Japanese consumers are sensitive to trend cycles in the international fashion market because there are so many brands enter into Japan market every year. 2. They are significantly influenced by Fashion Magazines. Although technology is developed these years, magazine is still playing an important role in Japanese teenagers’ life, like Mina, Rays, Vivi and etc. So if Hollister invest in Japan, focusing on magazine will be a good choice for this company when they doing marketing promotion. Threat Everything has two sides. Since Japanese fashion market is full of opportunity, it is also highly competitive. According to Imported Luxury Brands Market in Japan: Key Research Findings 2011, imported luxury brands market in 2010 is estimated at 831.4 billion yen, 92.9 % of the size in previous year. This data means that there are many companies already in the market. The number of competitors in Japan is huge. According to Appendix 6, 24% market is owned by US brands. After doing research, we known that Hollister’s main competitors, Gap and American eagle outfitters, have already entered Japanese market. What’s more, even though they are owned by the same company, Abercrombie Fitch, probably another biggest competitor, entered Japanese market since 2009. [Appendix 7] In a conclusion, although Japan got higher purchasing power and fashion opportunity, it is still not an appropriate country to be entered because of the political risk and high competition. Singapore Singapore is located in southeastern Asia at the southern tip of the Malay Peninsula; the city-state of Singapore consists of a main island and some 60 islets. The country has a population of 4,740,737 in which the capital and major cities occupy 3,654,103 people according to the data last year. Although the country seems not as large as many other countries, Singapore’s gross domestic product was $326.8 billion and its per capita GDP of 61,103.36 US dollars in 2011 estimates is comparable to that of leading Western European nations, and its high standard of living and strong trading links have secured its position as one of ASEAN’s leaders (Global Road Warrior, 2012). Strengths 1) Outstanding tax system.When Japan cuts its corporate tax rate this Sunday, the U.S. will have worlds highest tax rate on business income. The following chart has shown the data. (Figure Source: Isidore (2012), CNNMoney) However, Singapore’s corporate income tax rate is low which in a flat of 17% since 2010. It is often cited as the leading example of countries to reduce corporate income tax rates and introduce various tax incentives to attract and keep global investments. Since January 1, 2003, Singapore has adopted a single-tier corporate income tax system, which means there is no double-taxation for stakeholders. Tax paid by a company on its chargeable income is the final tax and all dividends paid by a company to its shareholders are exempt from further taxation (Janus, 2012). Two of Singapore’s unique advantages are its low effective personal and corporate tax rates. Personal income tax has a tier system that starts from just 0% and goes up to 20% for income above $320,000. Similarly, effective corporate tax rate for Singapore private limited companies for profits up to $300, 000 is 8.5% and capped at a flat rate of 17% for profits above $300, 000 (Janus, 2012). What’s more, there are no dividend or capital gains taxes in Singapore. 2) High purchasing power.The GDP per Capita, in Singapore, when adjusted by Purchasing Power Parity is equivalent to 278 percent of the worlds average. Consumer Spending in Singapore increased to 27,485.40 in May of 2012 from 27,467.20 in February of 2012. Historically, from 1975 until 2012, Singapore Consumer Spending averaged 12,752.67 reaching an all time high of 27,485.40 in May of 2012 and a record low of 3,553.90 in February of 1975 (Trading Economics, 2012). 3) Exchange rate Labor cost.The USDSGD spot exchange rate depreciated 0.0194 or 1.56 percent during the last 30 days. According to Janus (2012), The Singapore dollar has been consistently appreciating against major currencies. It also got about $260 billion based on average exchange rates or $252 billion based on year-end currency rates last year. Historically, from 1980 until 2012, Singapore Labor Costs averaged 96.00 reaching an all time high of 129.93 in February of 2009 and a record low of 57.37 in May of 1980. These data are all lower than Hong Kong and Japan’s (Trading Economics, 2012). 4) Political stability.Singapore is rated No.1 as the most politically stable country in Asia (Janus, 2012). 5) English is main language.Singapore has a 10-year compulsory education program commencing at the age of 7 years. English is the first language and the medium of instruction in schools (Global Road Warrior, 2012). This means almost 100 percent of People in Singapore speak and understand English well, which would bring much easier communication for Hollister to enter into the country, especially to the communication within the management level of Singaporean while doing business. 6) Quick and easy registration. It only takes about 1-2 days to incorporate a company in Singapore, with the government providing assistance along the way (Janus, 2012). As the easiest place to do business in the world, Singapore company registration is a quick and easy process, which involves just two procedures that can be completed online within 24 hours for a retail outlet. A Singapore subsidiary can be wholly owned by a foreign company and is considered a separate legal entity from the parent company. Also, a Singapore subsidiary is generally treated as a local resident company and therefore is entitled to tax benefits available to local companies (Janus, 2012). Weakness 1) If you want to set up a limited liability company (LLC), there are two conditions that are required: it must have two agents acting on its behalf in the country; and one of them must be a Singapore resident, a native Singaporean, or someone who has a Singapore employment pass. 2) Singapore is among the most expensive in the world, as the cost of living here is very high. 3) Hollister has to hire Singapore resident and qualified Singapore auditors to do the business accountings to work with government. Opportunities 1) Singapore is one of the world’s famous shopping paradises. Its central business district has a lot of upscale shopping square: from the latest fashion clothes, jewelry, watches, perfume, cosmetics to the sports goods and daily necessities etc. Singapore’s retail sector has done well in 2010 and well into this year on the back of the tourism sector’s robust performance and in spite of a slowing economy in recent months. According to the latest retail sales index released by the Singapore Department of Statistics, Singapore’s retail sales excluding automobiles increased 7.4% year-on-year in August 2011(Janus, 2012). Hollister, as the subsidiary brand under Abercrombie Fitch, has very large opportunity to get benefits from opening retail stores in the country. 2) Singapore is also ranked the No. 1 in tourism so there is the potential to do business. Threats Fashion is a highly competitive industry worldwide, but Asia stands out for its stylish and practical design. Although Hollister is also a very famous American brand under AF, it still faces strong competition from Asiatic fashion. Since Singapore emerges as global fashion apparel hub with large amounts of upscale shopping squares, the opportunity to open shops in this fashionable country could also become a big threat. Hong Kong Hong Kong is a Chinese special administrative region situated in eastern Asia, with a 455-mile coastline on the South China Sea and a 19-mile border with China. Hong Kong’s population is 95 percent Chinese, with the majority coming from neighboring Guangdong province or within Hong Kong itself. The population was about 7,122,508 in 2011. Cantonese and English are the two official languages. Hong Kong’s free-market economy was vulnerable to the global economic crisis of 2008, but its increasing integration with China helped it to quickly recover (Global Road Warrior, 2012). The GDP in Hong Kong was worth 243.67 billion US dollars in 2011, which roughly equivalent to 0.39 percent of the world economy (Trading Economics, 2012). Strengths 1) Well located.Hong Kong is located at the heart of Asia, alongside many of the region’s most exciting business market such as Guangzhou, Taipei, Manila, and Bangkok etc. And it is the gateway to Mainland China. 2) Free trade port.Easy government policies for foreign fashion brands. Hong Kong is known for its free port status and easy customs procedures. Duty is paid on very few products. 3) Tax-friendly economies.Hong Kong’s profit tax is capped at 16.5 percent according to the 2011 study, and there are no capital gains and dividends taxes (InvestHK, 2012). Weakness 1) Most of good locations have already occupied by large local fashion chains or early entering foreign fashion brands. 2) After the global financial crisis in 2008, the economies of Hong Kong still need to recover. 3) Hong Kong has the lowest GDP in 2011 compared to Singapore and Japan. Opportunities 1) There are large fashion-hungry population in the Hong Kong market, especially many people from Mainland China love to go shopping in Hong Kong. 2) Some foreign retailers are successful in the Hong Kong retail market. In addition, Abercrombie Fitch was prepared entering into the country, which would in a sense lay a good foundation to its subsidiary, Hollister. Threats 1) Competition with Many local fashion brands, such as GIORDANO, BALENO, Bossini, Esprit and so on. And what is worsening is that these local brands all offer very cheap prices. 2) Many other foreign fashion competitors: Hong Kong shopping malls are creating space for Swedish brand Monki and U.S brands Gap, Forever 21 and American eagle. Others like HM, Zara, Mango and Japanese brand Uniqlo have already established outlets in the city (Thondup and Tsang, n.d.). After reviewing the strength, weakness, opportunity, and weakness in the three countries, we chose to expand business into Singapore. We strongly recommend Hollister Co. to invest in Singapore where is a stable and strong economic, and a low risk country in political change. Singapore Marketing Singapore is an island country. The land area is 714.3 Square kilometers. The population in 2011 is 5,260,000. The population density in 2011 is 7,257 per Square kilometers. Shenton Way is the fourth largest financial center, the adjacent Keppel port is one of the worlds busiest ports. According to Singapores economic structure, the manufacturing sector accounted for 25%, the construction industry accounted for 5%, wholesale and retail trade accounted for 16%, transportation and telecommunications accounted for 11%, the financial services industry accounted for 12%, business services accounted for 12%, the hotel and catering industry accounts for 3%, the other accounts for 16%. Due to it is a small country, shopping is considered a kind of sport in Singapore. The government draw up a lot of plans on developing their shopping market. For one thing, many shopping malls almost per square mile are located in Singapore. Orchard Road, one of the famous shopping streets, is a 2.2 km long st reet and it is a retail and entertainment centre in Singapore. Orchard Road also contains a large number of high-end restaurants, coffee chain, nightclubs and hotels. There are many famous building and variety of retail store as well as there is large number of luxurious products with well-known brand. There’s practically a shopping sale of sorts all year round in Singapore, with the most notable one being the Great Singapore Sale. On the other hand, it’s a year-round shopping paradise. You only need to take a walk down Singapore’s iconic shopping districts to find out what’s in store for you. The best time to visit is during its annual eight-week Great Singapore Sale, when all kinds of discounts and deals pop up island-wide from late May through July. Great Singapore Sale 2012 will be held for 8 weeks from Friday, 25 May 2012 to Sunday, 22 July 2012. The Great Singapore Sale 2012 has been timed to coincide with the peak travel seasons to enable visitors to enjoy the fantastic deals all around. During the Great Singapore Sale 2012, you can enjoy up to 70% discount for everything on sale, anywhere in Singapore. From posh shopping centres in Marina Bay and Orchard to small stores in the suburbs, you will find fabulous deals for clothes, gadgets, beauty treatments, spa, attractions, and even food! (Great Singapore Sale, 2012) Furthermore, Singapore set large variety shopping malls to meet the different requirement of various groups. The ethnic shopping enclaves in Singapore include Little India and Chinatown – both are tourist attractions in their own right, steeped in ethnic colors and flavors. (Singapore Shopping Madness, Yong Shu Hoong) For instance, Chinatown mainly offers authentic Chinese products including tea, herbs, medicines, foodstuffs, silks, cheongsams, handicrafts, household items and antiques. Finally, Singapore duty free shopping prices at all three terminals are competitive with most places in Asia. The slippery greenback means rates are fluctuating constantly. Pick up a 50ml Dior j’adore eau de toilette for around S$96 (US$76), Chanel Alure EDP 50ml at S$112 (US$89). (Singapore Shopping Madness, Yong Shu Hoong) Human Resource Management ââ€"†Human Resources Management Practice Due to the explosive growth of the Asian economies over the past two decades, considerable attention has been focused on the human resource management (HRM) practices of Asian businesses. Cultural diversity of workforce in modern business organizations against the backdrop of globalization has attracted the attention of many researchers and analysts. By the 21st century, Singapore has developed into advanced and high-income economies, specializing in areas of competitive advantage. As one of the four little dragons in Asia, Singapore can be an interesting subject to study and it is also important for MNCs to understand Singapore’s advantages and disadvantages of its human resources management practice. Hollister Co. is an American lifestyle brand by AF Corporation. The concept was at a lower price point than the parent brand through its SoCal-inspired image and casual wear. Hollister Co. could take some advantages of Singapore’s human resources management practice to expand its business in Singapore. According to a demographic survey, as of 2011, the population of Singapore is 5.18 million people, of whom 3.25 million (63%) are citizens while the rest (37%) are permanent residents or foreign workers. The government is considering capping these workers, although it is recognized that they are crucial to the countrys economy, as foreign workers make up 80% of the construction industry and up to 50% in the service industry. (Building and Construction Authority, April 2011) Singapore is a multicultural country with a majority population of Chinese (74 percent), with substantial Malay (13 percent) and Indian minorities (9.2 percent). The country has four official languages consisting of Mandarin, Malay, Tamil and English. English is the main working language and is the mandatory first language in all schools in Singapore. Most Singapores Chinese derived from southern China, especially in Fujian, Guangdong and Hainan, of which 40 percent is Fujian, the followed is Chaoshan, Cantonese, Hakka, Hainan and Fuzhou. To developing human resource management practice for Hollister Co., we should understand Singapore’s basic Human Resource Management (HRM). Hollister Co. is categorized as a service business while Singapore is a country which workforces are highly related to services sectors. In addition, considering the features of Singapore’s location, demography and other fields, its human resources is consisted of Western and Asian features. We will focus on Singapore’s HRM style and features of workforces to develop the human resources management practice for Hollister. ââ€"†Human Resources Management Style Leadership and the Workforce in Singapore is a survey that evaluated by the Singapore Human Resources Institute. Data were obtained from 192 respondents who were engaged in a wide variety of Singaporean industries. A total of 68 per cent of the respondents are HRM practitioners. Many of the respondents are supervisors reporting to senior management such as CEOs and managing directors. (Chart 1) All the data shows that globalization has had its impact on Singapore in a much more pronounced way. Singapore has been reputed for very advanced HRM practices both at the national and the international levels. In addition, Singapore has been especially known for its international HRM practices in a small city state. On the other hand, Singapore didn’t focus on manufacturing; it is a city state with a greater focus on financial services and other services instead, such as banking and insurance. Moreover, Singapore has a similar diversity culture of shopping centers manned by equally culturally diverse workforce. (Malikanrs, 2010) Singaporean enhances on performance record and job experiences, appropriate training and seniority when considering promoting its employees. Singapore has no set patterns of recruitment for either the entry level or middle level positions due to affecting by the Western model. However, Hofstede (1984) found that the national culture of Singapore is high in power distance. In high power distance cultures, superiors and subordinates treat each other as unequal. Singapore is also called a â€Å"nanny state’ in which people are supposed to do exactly what they are told. The mixed unique feature of national culture therefore makes Singapore’s HRM practices more complicated. ââ€"†Hiring and Retention The unemployment rate in Singapore was last reported at 2 percent in the second quarter of 2012. Historically, from 1992 until 2012, Singapore Unemployment Rate averaged 2.4 Percent reaching an all time high of 4.8 Percent in September of 2003 and a record low of 1.3 Percent in September of 1997. The employment rate for older residents made good progress. A record 61.2% of residents aged 55 to 64 were working in 2011, up from 59.0% a year ago. The employment rate for both males (from 75.0% to 76.4%) and females (from 43.4% to 46.3%) in this age group rose to new highs in 2011. Singapore’s workforce is inherently diverse due to their multi-racial community. Employees from different generations, gender, nationalities and cultures often work together in the same organization. It is therefore important for organizations to put in place policies and practices to build an inclusive and harmonious workplace. A diverse workforce that is well-managed can bring about better business per formance and higher employee engagement. ââ€"†Training and Advancement The improvement in educational profile of older residents was another contributing factor as the better educated were more likely to participate in the labor market than those less educated. The educational profile of the labor force continued to improve, as the better educated younger residents enter the labor force and the relatively less educated older cohorts retire progressively. The share of degree holders in the labor force almost doubled from 15% in 1999 to 28% in 2010. Conversely, the lower educated labor force from 36% to 22% over the same period. (Chart 2) ââ€"†Compensation Chart 3, 4, and 5 in appendix show the average salary, turnover rate, and worked hours of Singaporeans. The average salary for Singaporean to work 46.3 hours per week is around Singapore $ 4,000(about $ 3,000). The average over-time work hour is 3.7 hours a week. (Employment Situation in Fourth Quarter 2010, 2011) ââ€"†Ideal Human Resource Management First of all, we would like to talk about language skill. As mentioned above, English is the official language in Singapore. In addition, Singaporeans have high level of education and language skills in average. Therefore, the company can hire local employee without worrying about language barrier. Furthermore, we’ll analyze workforce. Due to the mixed unique feature of national culture, Singapore’s workforce is inherently diverse. Employees from different generations, gender, nationalities and cultures often work together in the same organization. On the one hand, it is easy to train and educate new employees to understand Hollister’s organizational cultures and requirements. On the other hand, Hollister Co. also has to understand the mixed unique feature of national culture. With the aging of population, Singapore government also encourage foreigner to go there and look for a job. In the meanwhile, Singapore advocates foreign enterprise producing products which is suitable for the elderly. This is another opportunity for Hollister Co. to expand their business in Singapore. Finally, we’ll talk about hiring, training, retention, promotion and salary. The unemployment rate in Singapore is very low, the educational background of workforce is becoming higher and higher, the low labor turnover and high level of wage show the Singaporeans are likely skill oriented workforces. The average monthly wage in Singapore is around 4,000 Singapore dollars which equals $3,000. It is a little bit lower than the average income that American household makes. (How much does the average American make breaking down the us household income numbers, 2011) Because Hollister Co. does not have to pay so much money for workforce training, we suggest Hollister Co. offer a somewhat high wage than the current clothing stores in Singapore and use bonus to motivate employees. Political and Legal Environment ââ€"†Legal Environment The Republic of Singapore has a legal system largely based on the British Westminster model, where the power to govern and administer the country is divided between the Executive, the Legislature and the Judiciary. Ranked by the World Banks report, Doing Business 2007: How to Reform as the most accommodating country to do business in the world, Singapore is a strategic and reliable base for foreign investors to invest in the emerging Asian markets. (Overview of the Legal Environment of Singapore, RSM Chio Lim) Singapore is well known as the Switzerland of Asia. With a population of approximately 5 million people, Singapore has an astounding 90% literacy rate, and over 85% of inhabitants have a secondary or higher education. The country has almost zero crime, zero corruption and no drug problem. (Singapore Incorporation Advantages) (International rankings of Singapore, Wikipedia) Political environment Pro-business environment: One of characteristics in Singapore is its pro-business environment. It means that Singapore has an environment that is favorable for foreign investments and can attract many foreign entrepreneurs. Furthermore, it is easy for investors to set up businesses and make higher profits. Compared to other countries, investors only have to take 1-2 days and they can incorporate a company in Singapore. Because of pro-business environment, Singapore has become one of favorite countries for investment (Singapore Incorporation Advantages, 2012). Financial assistance: In order to help start-up companies to gain funding, the Singapore government agencies set up several financial assistance schemes to let start-ups gain access to funding to turn their business ideas into reality. Moreover, Singapore government sets up many private sectors to help investors improve efficiency strengthen capabilities of their company (Singapore Incorporation Advantages, 2012). Great tax system: For a starting business, taxes cost is always a top priority. One of features in Singapore is its low effective personal and corporate tax rates. For the personal income tax, Singapore government is based on personal income to design a tier system that starts from 3.5% to 20%. For corporate tax, †Singapore private limited companies for profits up to SGD 300,000 is below 9% and capped at 18% for profits above SGD 300,000.ï ¼â€š(Singapore Incorporation Advantages) After 2010, corporate income tax rate will decrease from 18% to 17% in Singapore. Furthermore, there is no capital gain tax. It represents that Singapore government uses a single -tier tax policy. This policy is that when the income has been taxed at the corporate level, companies can give shareholders dividends for tax free (Singapore Incorporation Advantages). Political systems: Singapore government has an open attitude and its vision is broad to the whole world. Its political system is using a rational, pro-business way to enact laws, decide priorities and sets regulations. For example, there is almost no restriction on foreign investment including manufacturing and service activities. Any business is supported by political infrastructure and given maximum encouragement from the government. This support is an important way to let businesses grow and prosper (Singapore Incorporation Advantages). In addition, the immigration policy is open and flexible in Singapore. It assists the relocation of foreign investors to set up businesses here. If a business entrepreneur needs to run his business or and hire foreign professionals, the government can make appropriate Singapore work visa provisions to meet his needs and wants (Singapore Incorporation Advantages). Free trade agreements: Free Trade Agreements is a significant system in Singapore. It means that most products can be imported without barrier. Businesses can enjoy many benefits including tariff concessions, preferential access to certain sectors, faster entry into markets and Intellectual Property protection. Moreover, Free Trade Agreement is a way to connect Singapore to their trading partners such as United States, Europe, China, Hong Kong and, Japan (Singapore Incorporation Advantages, 2012). (Singapore Incorporation Advantages, 2012) High Quality of Life One of reasons why many investors set up their business and relocate to Singapore is the quality of life. Singapore is in a convenient location and provides a great public and private transportation, a safe and clean environment to live. It also offers an outstanding support system for businesses. Singapore is suitable for work and living. (Singapore Incorporation Advantages, 2012) Economic and Financial Environment In fact, the economic situation in Singapore is very strong and stable, because the attitude of government is open-minded and this country is anti-corrupt. The economic growth is also steady. Singapore is one of countries in the world that has the largest per capital Gross Domestic Product (GDP). The Gross Domestic Product (GDP) is equal to the total expenditures for all final goods and services produced by a country in a period of time and measures national income and output for a countrys economy. According to the World Bank, the Gross Domestic Product (GDP) in Singapore was worth 239.70 billion US dollars in 2011. The GDP value of Singapore is roughly equivalent to 0.39 percent of the world economy. Historically, from 1960 until 2011, Singapore GDP averaged 51.8 billion USD reaching an all time high of 239.7 billion USD in December of 2011 and a record low of 0.7 billion USD in December of 1960 (Trading Economics, 2012). (Trading Economics, 2012) The annual growth rate in Gross Domestic Product (GDP) measures the increase in value of the goods and services produced by an economy over the period of a year. It considers a full year of economic activity and avoids the need to make any type of seasonal adjustment. The Gross Domestic Product (GDP) in Singapore expanded 2.00 percent in the second quarter of 2012 over the same quarter of the previous year. From 2007 until 2012, Singapore GDP annual growth rate averaged 5.1 percent reaching an all-time high of 19.8 percent in June of 2010 (Trading Economics, 2012). (Trading Economics, 2012) Singapore exchange rate is range from $1.30 to $1.50 for the last 10 years. It is kind of stable. Monetary Authority of Singapore (MAS) manages the exchange rate of the Singapore dollar. Investors can transfer funds in and out of Singapore freely in any currency. Furthermore, Singapore government bond has very good rating. Standard Poors (SP) in August 2011 gave it AAA and Moody’s gave it Aaa in 2008. According to China Post, Singapore banking system is rank top four in the world. When other country have problem with financial crisis, most of Singapore banks were rated B by Moody. We have to realize more about Singapore’s banking system for doing business. Banking System Cash and Check In Singapore, for foreigners or tourists, it is very convenient to bring their own currency and exchange from market to airport. Foreign currency banknotes and travelers checks can also be changed easily at most banks. In addition, ATM link to global banking networks can be found everywhere. Foreigners or tourists can pay for most things by using a credit card in Singapore. (Singapore Banking System, 2012) Singapore banks issue checks that can be processed electronically. Writing check can only use black and blue inks. If a person only wants to deposit and does not cash the check, he has to draw two parallel diagonal lines in the upper left corner. If he crosses out ‘or bearer’, to the right of the payee line – the check can only be deposited into the account of the named payee. When a person deposits check, he has to write his name, account number and telephone number on the back of the check. (Singapore Banking System, 2012) ATM-Automated Teller Machine ATM machines for local banks are everywhere in the Singapore. In fact, all of the Singapore local banks and some of the international banks such as Citibank, HSBC and Standard Chartered have issued ATM cards. It considers that foreigners and investors have to withdraw money immediately in a place. However, there are not many branches and ATMs in the international banks. Here is a limitation and daily withdraw amount from ATM cannot exceed SGD$3,000. (Singapore Banking System, 2012) Cash Flow Because using check will take time to clear the bank, companies have to take that into consideration for their cash flow. There is a well-established banking system with three major local banks that offer a full service of consumer banking in Singapore. It includes ATMs, telephone banking and internet banking. In addition, besides local banks, some international banks in Singapore are doing the same business. Recently, those international banks have been allowed to set up branches and 15 ATMs. (Singapore Banking System, 2012) Accounting Standards Singapore accounting standards are followed the International Accounting Standards and International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board. Financial Reporting Standards (FRS) is accounting standards in Singapore. All companies with financial period starting on or after January 1, 2003 have to comply with Financial Reporting Standards (FRS) (Introduction to Accounting Standards in Singapore, 2012). One of the main principals of Singapore accounting standards is accrual-based accounting. It is the same as United Stated General Accepted Accounting Principle (GAPP). Under accrual basis, the revenue and expenses are recognized and recorded in the period when they occur but not receive or pay cash. They are recorded in the accounting records and reported in the financial statements in a period of time. The function of preparing financial statements on the accrual basis is to inform users not only of past transactions including the payment and receipt of cash, but also of duties to pay cash and funds that have received in the future (Introduction to Accounting Standards in Singapore, 2012). Actually, there are contains about 39 different standards with each standard named as FRS X in Singapore’s accounting system. For example, FRS 1 represents Financial Statement, FRS 2 represents inventories and FRS 18 means revenues. In addition, each standard involves a specific topic like presentation of financial statements, recognition of revenue, accounting for inventories, and so on. (Introduction to Accounting Standards in Singapore, 2012) Cultural of Singapore In Hofstede’s theory, there are five dimensions of culture, which are power distance, individualism, masculinity/femininity, uncertainty avoidance, and long-term orientation. The five dimensions are used to make a distinction between country and country. The society of Singapore is basically consisting of Chinese people. Around 77% of Singaporeans are Chinese. Therefore, the culture of Chinese does influence Singapore a lots. For example, the Buddhist-Shinto societies have an additional dimension which is long-term orientation (Geert Hofstede, 2011). Singapore Five Dimensions Culture Asian Countries Dimension Culture http://www.geert-hofstede.com/hofstede_singapore.shtml (Geert Hofsted Cultural Dimensions-Singapore, 2011) Power distance With Chinese population, Singaporeans are affected by Confucian thinking and values, so they adhere to a hierarchical relationship in their society. They believe that their society is composed of people who are in different standing and unequal relationship. The differences in standing are the signal for people to evaluate each other. The lower standing people should heed what a superior says. In addition, junior and less experienced people are expected to keep their opinions in their hearts. This kind of high power distance has been characterized in Asian society for at least two thousand years (Geert Hofstede, 2011). Individualism In an individualistic society, we can find the relationship of people is loose. The United States is the most individualistic society, but Singapore is ranked 53th out of 66 countries (ClearlyCulture, 2009). In Singapore or other Asian societies, children are raised to stay with the family. Children are educated to be a part of the group and stay in the group when they are infants. Children are taught to be dependent on the group, to make decisions which benefit the group, to support the group, and to maintain the honor of the group. The group can be family, school, or company. All of the decisions which are made by the elders for the children are common. After the Singaporean children become adults, they are not expected to cut off the former relationship (Geert Hofstede, 2011). Masculinity A high score on this dimension means competition can drive this society to success. Traditional Chinese culture is a typical masculinity. Singapore has almost 77 percent of populations are Chinese. Children are always taught to compete with other people in the school. Singapore is in the almost middle of the scale but a little on the feminine side. That means that there are still some softer aspects of culture like leveling with others and sympathy for loser in Singapore (Geert Hofstede, 2011). Uncertainty avoidance Comparing with other countries in the world, Singapore is a country with low degree of uncertainty avoidance. Singaporean comply with their rules because their high PDI. That is why Singapore is a â€Å"Fine† country (Geert Hofstede, 2011). Because Singaporeans are indirect and implicit in their communications, they will not publicly use the word â€Å"no†; likewise, their â€Å"yes† does not usually mean assent (Kwintessential, 2011). Unlike other Asian cultures, the western cultures also affect Singapore’s culture. Therefore, the degree of facing uncertainty avoidance is lower than other Asian countries. Long-term orientation The short-term orientation is related to truth and the long-term orientation is related to virtue. Singapore’s cultural qualities show the perseverance and sustained efforts support the long term investments. People believe that the truth depends a lot on situation and time in a society with a long-term orientation (Geert Hofstede, 2011). Doing business in Singapore, the relationship with other people is very important; especially you must respect the elders. Also, you must be more patient because the organization will show their purpose which is for long-term profit, not short-term gains (Kwintessential, 2011). Organizational Structure An organizational structure is setting the company into different levels, including person and work, so each person needs to perform and accomplish the company goals (Chapman, 2008). There are two types of organizational structures which are flat organization and hierarchical organization. A flat organization is an organization which is few or no levels between managers and employees. The advantage of a flat organization is top management contact directly with the staff level employees. Middle managements are eliminated, so it can also reduce the organization’s budget costs. In this structure, the communication between managers and employees would be improved and the organization is fast to respond to consumers and market conditions. The disadvantage of a flat organization is difficult to maintain when the organization grows bigger. A hierarchical organization is the layout of a pyramid. Every employee obeys someone else in this organization. The advantage of a hierarchical organization is the management can control closely. Also, the role and responsibility of each employee are distinguished clearly. The disadvantage of this organization is the decisions will be difficult to make because the organization is consisted of a multilayer management. It costs a lot to maintain a multilayer management and the communication would be slow from the bottom to the top (Colette). Hollister Co. is a subsidiary company of Abercrombie Fitch, so the management chart of the Hollister is the same with Abercrombie Fitch. The following table is Hollister’s organizational structure. In this table, we can consider Hollister is a hierarchical organization. An Executive VP or senior VP head all major business processes of the company. The CEO at the top, EVP/SVP on the second, EVP/SVP on the third and SVP on the fourth level are four basic layers at senior management. This hierarchical structure makes Hollister’s management make decisions quickly and let employees in each group understand their roles and responsibility clearly. On the other hand, there are still some disadvantages, which are high costs and many layers of communications, in this structure. For example, the SVP of Supply chain needs to go through two management layers in order to reach the CEO of Hollister. The hierarchical structure delays the communications between management and employees. A hierarchical structure costs a lot to maintain for Hollister. Hence, in a recession, Hollister might restructure to reduce costs and improve communication. Source: http://www.cogmap.com/chart/abercrombie-fitch-co (2010) Hollister still can use its hierarchical structure into its international markets such as Singapore. Singapore is an open country and there is no limitation in Singapore, so Hollister can use any types of organizational structure they want. If Hollister use the hierarchical structure successfully in its home country and in other international markets, Hollister should use the same structure when they expand to Singapore. Singapore is also a hierarchical structure country because its high power distance. Hollister’s International Expansion Strategies After review Hollister Co. and Singapore cultures and structures, we put forward three strategies which Hollister can use to expand its business to Singapore by exporting, licensing or wholly owned affiliates. Exporting is the first way the company can expand into a new market. By exporting, Hollister does not need to invest in Singapore and can test Singapore’s market. The disadvantages of exporting are Hollister has to suffer tariff and non-tariff barriers, high transportation costs and depend on foreign importers for product distribution. The second strategy is Hollister can give a license of its design to a Singapore Apparel Company. This way Hollister can earn profit without investing and suffering tariff and non-tariff barriers. The disadvantage of licensing its design, Hollister might be subjected to the local apparel company becomes its competitor. Hollister also cannot control the quality of products which the licensee produces, so Hollister’s brand or reputation is on risk. The third strategy is that Hollister can expand to Singapore’s market by itself. Hollister can choose a place where there will be a lot of people, including domestic residents and tourists, to visit such as CentrePoint, the most popular mall in Singapore. The advantages of expanding itself are that Hollister can have complete control and receive all of the profits. The disadvantages of expanding itself are the high costs and the greater loss if it fails. Recommendation After review three strategies, we recommend Hollister to expand itself in Singapore. Hollister has enough capital to invest into Singapore because it has a powerful backing, Abercrombie and Fitch. This way Hollister can keep their quality of products and have complete control. Hollister can test the market and the market condition by opening the first in Singapore. In order to be success, the most important things are that Hollister needs to learn Singapore’s culture and establish the relationship with the consumers and suppliers. Hollister can adapt to the Singapore’s culture and consumer taste by reviewing a quarter of sales. After its sales grow stably, Hollister should continue to open more stores in Singapore.

Analysis of leadership and managerial effectiveness

Analysis of leadership and managerial effectiveness Leadership power, influence, path-builder and director. it can defined in many ways, but most commonly Leader is person who influences the thoughts and behaviors of others; a leaders is one who establishes the direction for others to willingly follow. One person can serve as a leader or several persons might share leadership. A person may be appointed as leader or may be elected by people within his circle. Leaders play vital role in standardizing performance. Leaders can influence other to perform beyond the expectations. Managers plan, organize, lead and control so that leading and managing are inseparable, they are both integral part of each other. If one cant influence and inspire others to work willingly towards aims then all planning and organizing will be ineffective. Similarly setting direction is usually not enough, no matter how inspiring one can be, management skills are crucial. Main characteristics of leadership:- Self Confidence- They have complete confidence in their judgment and ability. A vision- This is an idealized goal that proposes a future better than the status quo. The greater the disparity between idealized goal and the status quo, the more likely that followers will attribute extraordinary vision to the leader. 3.Ability to articulate the vision- They are able to clarify and state the vision in terms that are understandable to others. This articulation demonstrates an understanding of the followers needs and, hence acts as a motivating force. 4.Strong convictions about vision- Charismatic leaders are perceived as being strongly committed, and willing to take on high personal risk, incur high costs, and engage in self-sacrifice to achieve their vision. 5. Behavior that is out of the ordinary- Those with charisma engage in behavior that is perceived as being novel, unconventional, and counter to norms. When successful , these behaviors evoke surprise and admiration in followers. 6.Perceived as being a change agent- Charismatic leaders are perceived as agents of radical change rather than as caretakers of the status quo. 7. Environmental sensitivity- These leaders are able to make realistic assessments of the environmental constraints and resources needed to bring about change. Main objective of leadership:- 1- Begin with the End in Mind Clearly define AND communicate the objective; then lead unapologetically to its conclusion 2- There is no I in TEAM Team players have value and are contributors to a group effort; self promoters do not have value and steal from the group. Cultivate team players and cull self promoters 3- Develop an Institutional Memory Remember mistakes and the costs associated with fixing them or they will repeat themselves ad nauseum 4- Set a good example by being a good citizen at home, in your community and at work No business success will make up for being a lousy citizen 5- Control the environment effectively, without suppressing creativity flow Dont let the environment control you. 6- Do reward behavior you want repeated Behavior (and success) that is rewarded will increase in duration, intensity and frequency. 7- Dont reinforce and dont ignore behavior you want stopped Fear of conflict and avoidance of accountability will only lead to wide spreaddys function and more unwanted behavior. 8- Insure that a task is done right the first time The project and any hope for momentum will grind to a halt if the task has to be done over again 9- Hire Integrity over Skill:-Skills can be trained; but honesty, integrity, morals and trust can not 10- Serve others How may I help you? Should be asked early and often by and to every person in your organization. Earned loyalty through thoughtful service is the greatest ROI in business MANAGERIAL EFFECTIVENESS :- Managerial Effectiveness is fast becoming a competitive advantage for organisations, especially in the context of high demand for and therefore, continuous migration of competent managers from one organisation to another Organisations therefore, have started investing in retaining competent managers and putting in place systems for developing new cadre of effective managers. It is in wake of these contextual factors that this programme on Managerial Effectiveness is being conducted. Managerial Effectiveness is often defined in terms of output what a manager achieves. This result oriented definition leads us to look for the factors that contribute towards the results. Studies find three factors to be responsible for the results that an organisation achieves through its managers. These are: (a) the efforts and ability of the managers, (b) the environment in which the managers and the organisation operates, and (c) the efforts and ability of the subordinates. Thus, the managers ability is the key element in achieving the desired results.This programme on Managerial Effectiveness focuses by and large on the managerial ability of Managing Self, Managing Subordinates Relationships (which can enhance subordinates ability), Managing Change and Decision Making (which requires the managers to understand the environment in which she/he and her/his organisation operates). Objective of managerial effectiveness:- 1. To develop and understanding of concept of managerial effectiveness. 2. To help the participants to understand the importance of team work and value of resolving the conflicts for developing effective relationship and work culture. 3. To enable the participant to develop specific skills such as team work and conflict management in order to enhance their contribution to the organisational growth. 4. To provide the participants an opportunity for sharing experiences and analysing managerial styles thereby, enabling them to meet the diverse needs of your te. Trait Theory Trait theory tries to describe the types of behavior and personality tendencies associated with effective leadership. In modern times, Thomas Carlyle (1841) can be considered one of the forerunners of trait theory. Although trait theory has an intuitive appeal, difficulties may arise in proving its tenets, and opponents frequently challenge this approach. The strongest versions of trait theory see these leadership characteristics as innate, and accordingly label some people as born leaders due to their psychological makeup. On this reading of the theory, leadership development involves identifying and measuring leadership qualities, screening potential leaders from non-leaders, then training those with potential. In response to criticisms of the trait approach, researchers have begun to assess leader attributes using the leadership attribute pattern approach. Leader as a communicator the framing Framing is a way of communicating to shape meaning. Its a way for leaders to influence how others see and understand events. Selecting and highlighting one or more events while excluding others. It is the ability of the leader to influence others to act beyond their self interests Two contemporary theories of leadership with a common theme. 1. Charismatic leadership 2. Transformational leadership Charismatic Leadership The Charismatic Leader gathers followers through dint of personality and charm, rather than any form of external power or authority. The searchlight of attention It is interesting to watch a Charismatic Leader working the room as they move from person to person. They pay much attention to the person they are talking to at any one moment, making that person feel like they are, for that time, the most important person in the world. Charismatic Leaders pay a great deal of attention in scanning and reading their environment, and are good at picking up the moods and concerns of both individuals and larger audiences. They then will hone their actions and words to suit the situation. Pulling all of the strings Charismatic Leaders use a wide range of methods to manage their image and, if they are not naturally charismatic, may practice assiduously at developing their skills. They may engender trust through visible self-sacrifice and taking personal risks in the name of their beliefs. They will show great confidence in their followers. They are very persuasive and make very effective use of body language as well as verbal language. Deliberate charisma is played out in a theatrical sense, where the leader is playing to the house to create a desired effect. They also make effective use of storytelling, including the use of symbolism and metaphor. Many politicians use a charismatic style, as they need to gather a large number of followers. If you want to increase your charisma, studying videos of their speeches and the way they interact with others is a great source of learning. Religious leaders, too, may well use charisma, as do cult leaders. Leading the team Charismatic Leaders, who are building a group, whether it is a political party, a cult or a business team, will often focus strongly on making the group very clear and distinct, separating it from other groups. They will then build the image of the group, in particular in the minds of their followers, as being far superior to all others. The Charismatic Leader will typically attach themselves firmly to the identify of the group, such that to join the group is to become one with the leader. In doing so, they create an unchallengeable position for themselves. Key characteristics of charismatic leadership Vision and articulation; Sensitivity to the environment; Sensitivity to member needs; Personal risk taking; Performing unconventional behavior Vision and articulations Has a vision Expressed as an idealized goal The goal proposes a future better than the status quo Is able to clarify the importance of the vision in terms that are understandable to others. Personal risk Willing to take on high personal risk Incur high costs Engage in self sacrifice to achieve the vision Sensitivity to followers needs Perspective of others abilities Responsive to others needs and feelings. Unconventional behavior Engages in behaviors in behaviors that are novel and counter to norms. Personality of charismatic leaders Extraverted Self confident Achievement oriented Articulate an over arching goal Communicate high performance expectations Empathize the needs of their followers Project a powerful confident and dynamic presence Captivating and engaging voice tone Three step process of becoming a charismatic leader An individual needs to develop an aura of charisma by maintaining an optimistic view, using passion as a catalyst for generating enthusiasm and communicating with the whole body, not just with words. .An individual draws others in by creating a bond that inspires others to follows. . An individual brings out the potential in followers by tapping into their emotions. Charismatic Leadership Issues People following these leaders will be exerting extra effort, express greater satisfaction. Charismatic effectiveness and situation Charisma works best when: The followers task has an ideological component There is a lot of stress and uncertainty in the environment The leader is at the upper level of the organization Followers have low self-esteem and self-worth Dark Side of Charisma Ego-driven charismatic allow their self-interest and personal goals to override the organizations goals Very effective leaders who possess the four typical leadership traits: Individual competency Team skills Managerial competence Ability to stimulate others to high performance Plus one critical new traità ¢Ã¢â€š ¬Ã‚ ¦ A blend of personal humility and professional will Personal ego-needs are focused toward building a great company Take responsibility for failures and give credit to others for successes Prided them on developing strong leaders inside the firm who could direct the company to greater heights after they were gone. REVIEW OF LITERATURE Abstract It is argued that the fate of any society is determined by the quality of its leadership. This discusses the various managerial styles with the aim of buttressing the role of leadership in attaining organizational goals and objectives. This relies on extensive review of literature and employs content analysis of managerial leadership styles. This reveals that the correct style of leadership depends on: nature of the job; preference of the followers; the leaders attitude and the situation at a point in time. However, emerging economies are bereft of good and effective leadership in all fields of human Endeavours due to self-aggrandizements. Therefore, they recommends that: leaders should be made to be accountable for their stewardships both when in office and afterwards; and there should be general social re-orientation, for people to be honest, God fearing and to remember the day of reckoning when they will be asked to account for their deeds in this world. Gibb (1954) According to him leadership is the exercise of power and authority in collectivity; such as groups, organizations, communities of nations. This power can be addressed to any of the three very general and related functions: establishing the goals, purposes or objectives of the collectivity. This implies that exercise of authority involves making things happen though others. In achieving such purpose, leaders may engage in any of the following activities: coordinating, controlling, directing, guiding or mobilizing the efforts of others. Conclusion:- He suggested that the leader is a person who always suggested that leadership is the quality that a leader can act as a manager in performing all managerial function as well as with power and authority he can easily manage the things. Fielder (1967):- He defines leadership effectiveness as success of the leader in achieving the organizations goals. To be effective, the leader must help individuals in the group to satisfy their needs; for instance by giving responsibility to those with high power needs, close involvement to those with high inclusion needs and so on. Therefore, the most effective leaders are capable of dealing with the groups problem that depends on leaders ability to persuade his followers, which in turn depends largely on how much power he possesses. Conclusion:- Manager includes leadership qualities to achieve the organizational goals. They help individual in group to satisfy all the organizational needs. Weick 1979, Kiesler and Sproull 1982, Streufert and Swezey 1986:- This model is one of few that allows for an empirical test of some of the central ideas developed by the paradox perspective. There study also contrasts the recent emphasis on cognitive complexity in the organizational literature with the relative lack of attention given to behavioral complexity. Cognitive complexity, the paper argues, may well be a necessary condition for the effective practice of leadership. Behavioral complexity, however, must certainly be the sufficient condition. Conclusion:- Leadership must inevitably be performed through action, not cognition, and it would thus appear to be time for leadership researchers to begin to develop theories of behavioral as well as cognitive complexity. Burke and Day (1986) They applied meta-analysis to available managerial training and development studies to determine the types of management training that were effective, to what degree they were effective, and the relative effectiveness of the different training methods in improving learning or the acquisition of skills. The meta-analysis conducted by Burke and Day is commonly regarded as the principal empirical support for the effectiveness of managerial training and leadership development programs. Burke and Day (1986) incorporated the following training content areas in their analysis: general management, human relations, and self-awareness, problem solving/decision making, rater training, and motivation/values. Descriptions of those content areas were as follows: 1) General management training taught facts, concepts, and skills and included training topics such as labor relations, a broad focus on management theory and practice, company policies and procedures, labor economics, and general management functions. 2) Training in the human relations content area focused on the human relations problems of leadership, supervision, attitude toward employees, and communications. 3) Studies that were coded into the self-awareness training content area involved the understanding of ones behavior, how others view ones behavior, and learning ones strengths and weaknesses. Examples in the self-awareness content area were sensitivity training and transactional analysis. 4) Problem solving training included studies with a wide range of work problems that managers encounter including generalized problem solving and decision making skills. 5) Rater training programs taught participants to minimize errors in observing and evaluating subordinates. 6) Motivation/values training included programs designed to increase the managers motivation and modify managers values or attitudes. Conclusion:- He used organizational variables as outcome criteria. Some studies in their research had mixed results in demonstrating that managerial leadership development programs enhanced individual, group, and/or organizational effectiveness. Yukl (1989):- He described the status of the field of leadership as being in a state of ferment and confusion. Most of the theories are beset with conceptual weaknesses and lack strong empirical support. Several thousand empirical studies have been conducted on leadership effectiveness, but most of the results are contradictory and inconclusiveà ¢Ã¢â€š ¬Ã‚ ¦ The confused state of the field can be attributed in large part to the disparity of approaches, the narrow focus of most researches, and the absence of broad theories that integrate findings from the different approaches. Conclusion:- The status of the field of leadership is in a state on ferment and confusion. Leadership is necessary for the manager to perform affectively within an organization by integrating different approaches. This helps in applying different approaches results in better managerial performance by possessing better leadership qualities. (Bass and Avolio, 1993) He proposed another type of leadership which is known as transactional leadership, which is e. Instead of being communal, the emphasis is on individuals or small groups of employees within organizations or businesses who vie for favored status with a manager. Cooperation occurs through negotiations and loyalty is bought with reward to individuals. In these cases, some employees demonstrate little or no commitment to the organizations mission or vision, and cooperation is the result of negotiations. This model emphasizes marginal improvements in performance based on exchange relationships with subordinates. Conclusion: leadership is a systematic relationship where no leader leads without followers. To measure leadership effectiveness, Avolio believed that the focus should be less on what the leader does and more on what the followers do. This committed to a full range of leadership. Fleishman et al. (1991) developed taxonomy of descriptive leader behaviors from 65 authors, which provided a systematic definition of leadership behavior for use in designing leadership development interventions. The major approaches to leadership study were identified as the power-influence approach, managerial behavior approach, trait approach, situational approach (nine different ones including path-goal, situational leadership, contingency theory, and leader-member exchange) and transformational or charismatic leadership (Yukl, 1989) Conclusion: he explained the different leader behaviours and different approaches applied to leadership study. Sourcie (1994) He states, Managerial leadership is indeed a subtle mixture of formal authority, skills, knowledge, information, intelligence, courage, tenacity, instinct and hard work. As individuals rise to higher levels of formal leadership in organizations, the balance between leader and manager behavior shifts, but there are very few instances where a person can develop leadership skills without also being competent at managerial functions. Conclusion:- There should be a balance between leader and managerial behaviour. To enhance leadership styles sometimes becomes at the managerial level in performing different functions of management. Chen (1994) He used meta-analytic procedures to describe and statistically integrate 25 studies from the empirical literature regarding the effectiveness of cross-cultural training for managers. A great majority of the studies (88%) used control group design. Chens meta-analysis produced a highly significant average effect size (1.60) for the comparisons between those who received cross-cultural training and those who did not, indicating that the average trainee was 1.60 standard deviation higher than controls on the cross-cultural training effectiveness measures. Chen discovered that control group studies produced lower effect sizes than single group pretest-posttest studies. Chen also found that the longer the time between cross-cultural training and the measurement of training effectiveness, the less effective the training was judged to be by the primary study participants, with almost 56% of the variability in effect size magnitude caused by the time of outcome measurement. Conclusion:- The results of Chens meta-analysis did not conclude that any certain type of cross-cultural training program was more effective than another one as he generally impact the effectiveness of cross-cultural training for managers. Brungardt, 1996 He suggested the that leadership development efforts will result in improved leadership skills appears to be taken for granted by many corporations, professional management associations, and consultants. In essence, many companies naively assume that leadership development efforts improve organizational efforts. Leadership development is defined as every form of growth or stage of development in the life cycle that promotes, encourages, and assists the expansion of knowledge and expertise required to optimize ones leadership potential and performance. Conclusion:- Leadership development will leads to the improvement leadership skills with in the corporations, to improve the organizational efforts by developing their employees. McCall (1998):- Managerial leadership development through on-the-job experiences has emerged as a powerful source of learning. He believed that on-the-job experiences were the primary classrooms for the development of leadership skills. These developmental jobs provide transitions that put the manager into new situations with unfamiliar responsibilities and tasks where they create change and build relationships (Brutus, Ruderman, Ohlott, McCauley, 2000; McCall, Lombardo, Morrison, 1988; McCauley Brutus, 1998). According to McCall, et al. (1988), most 31 developments of successful business leaders took place on the job and not in seminars, classrooms, and MBA programs. Additional literature regarding on-the-job experiences will be cited in the Leadership Development. Conclusion:- He explained that the managerial leadership development through on-the job experiences. It develops leadership skills with in a manager to enhance their skills. It helps them in handling unfamiliar responsibilities and tasks in which they can easily make changes. Driggs (1999):- He emphasized that outcomes can be encapsulated as the awareness of the importance of organizational motivation and understanding, the flexibility to adapt to individual organizational needs, the openness to encourage continuing discussion and interchange, and a readiness to continue learning. Examples of outcomes in the current literature were improved subordinate and human relationships, improved knowledge skills and attitudes, improved trainee leadership and group effectiveness, improved decision-making style, sensitization of trainees to their management role, and development of a shared personal and organizational vision. Conclusion:- He explained that managerial effectiveness is analysed by motivating and understanding the organization needs by improved trainee leadership. Aurelio M. Montemayor, M.Ed:- He defines leadership as the individual qualities of assertiveness and ambition that shine through a charismatic individual. Leadership means collective commitment to progress wise and tough actions that create new systemic regularities in our institutions of education. It means constructing a seamless pipeline for all our children from preschool years to completing collegeIt means institutions and communities work for the greater good of our world. Conclusion:- Leadership leads to progress which help in regulating our institutions of education. They generally work for the greater good of our world. Swanson Holton, 1999:- The Results Assessment System was used in this research to analyze the outcomes of leadership development studies from both a learning and performance perspective. The Results Assessment System (Swanson Holton, 1999) enables practitioners to measure results within three domains: performance, learning, and perception, each of which has two options. Performance results are either system or financial results. System results are defined as the units of mission-related outputs in the form of goods and/or services having value to the customer and that are related to the core organizational, work processes, and group or individual contributors in the organization. Financial results are defined as the conversion of the output units of goods and/or services attributable to the intervention into money and financial interpretation. Performance-level assessment requires that mission-related performance outcomes be connected to the mission of the system (Swanson Holton, 1999). Performance outcomes typically are assessed in terms of being counted or time taken to produce the units of goods or services. Swanson and Holton clarified that performance outcomes are classified in terms of the performance levels at the whole system level (organization), the work processes within the system (subsystem), or the contributor level (individuals or intact work groups). According to Swanson and Holton, within the performance domain, a complex organization can have a variety of performance outcomes but a unit of performance must be selected as the focal point of the assessment. Learning results as defined by the Results Assessment System (Swanson Holton, 1999) are delineated into expertise or knowledge results. Expertise results are defined as human behaviors having effective results and optimal efficiency, acquired through study and experience within a specialized domain. Human expertise is the most complex of learning results. The premise is that people with expertise have knowledge and are able to act on that knowledge (Swanson Holton, 1999). Measuring human expertise requires that an individual demonstrate his or her behavior in a real or simulated setting. Conclusion:- Knowledge results are defined as mental achievement acquired through study and experience (Swanson Holton, 1999,). Swanson and Holton believed that knowledge, an intellectual or cognitive result of learning experiences, was the basic learning result of an intervention. Measures of knowledge confirmed the level of knowledge held by individuals within a particular subject area. Zhang (1999) He applied meta-analysis procedures to experimental evaluation studies to find out the magnitude of the effect of management training from 1983-1997 on trainees learning, job performance, and organization results. The study followed Burke and Days coding criteria and included forty-seven empirical studies on training for managerial personnel in business and industry and in education. Zhang included experimental and quasi-experimental studies, most of which were found in journal articles, while one-third were doctoral dissertations. The results indicated that evaluation was being conducted beyond the reaction and learning levels. Zhangs research produced a .47 effect size for studies with knowledge-subjective outcomes, .80 for knowledge-24 objective, .50 for expertise-subjective and .49 for studies with system-objective outcomes. A major finding was that management training made a significant difference in trainees learning when self-efficacy and various knowledge tests measured the o utcomes. A human relations leadership program made a significant difference in trainees job performance when performance appraisal instruments measured their on the- job behavior. Management training programs were effective when measured by subjective result criterion, such as employees commitment to the organization and job satisfaction. There was a significant difference in the training effect measured by objective organization result criterion, such as job accuracy, turnover and productivity. Conclusion:- He recommended that more quantitative reviews be conducted using meta-analysis to accumulate quantitative data of training effectiveness across studies and that more high quality empirical studies are conducted. It also concluded that measurement of organization results outcomes needed more research in which the organizational indicators that are most relevant to training are prioritized. Lynham, 2000:- The nature of management and leadership has changed significantly and organizations are experiencing an increased number of outcome-based demands on their time and resources. Organizations also are committing to an increased number of managerial leadership development interventions and take for granted that those interventions enhance their organizations effectiveness. But, there remains a void as to what is known about managerial leadership development and the contribution of managerial leadership development interventions to individual knowledge and expertise as well as organizational performance. Conclusion:- Interventions results in enhancing organisations effectiveness this leads to development interventions for individual knowledge and expertise. Interventions results in better managerial effectiveness. Friedm

Housing Meaning Essays -- Literary Analysis, Howards End, Forrester

In Howards End by E.M. Forester, the house Howards End has central meaning to the story as each character has a different meaning for the property. To understand this meaning better using the other homes in the story to describe how each house is different from Howards End. Using such places as Wickham Place compared to Howards End in feeling from what the characters think of them. Then understanding how different the Flats are to Howards End though both are homes. Also why places such as Ducie Street and Oniton Grange are still different from Howards End though all three are of the same social standing of each other. Then how places such as Leonard’s Place are on the opposite side of the poll to that of Howards End but still have meaning to it. Then explain how Forster can express Howards End so well that it seems he himself has lived there. At the end of evaluating the other homes and Howards End the evidence will show that Howards End being in the middle of it all is import ant to the development of the story. With comparing the character’s feelings to that of Wickham Place to Howards End aspects such as emotional attachment, events that occurred there and the class each place carries with it. With emotion in play Wickham Place hold a dear meaning to those of the Schlegal family for many reasons. As stated in the beginnings of the book the Schlegal’s see Wickham Place as the Wilcox see Howards End as and ancestral home. Although as Margaret thought about the Wilcox’s in that, â€Å"The Wilcoxes continued to play a considerable part in her †¦ when it takes all sorts to make a world?†(Forester 12). This to Margaret is what the Wilcoxes stand for – the "grit" and practicality of the real world. While the Schlegels live in their equall... ...t from Howards End by using their importance to branch from Howards End. Using such places as Wickham Place to Howards End in feeling from what the characters think of each other. Then understanding how different the Flats are to Howards End though both are homes the Wilcoxes live in. Also why places such as Ducie Street and Oniton Grange are still different from Howards End though all three are of the same social standing of each other. Then how places such as Leonard’s Place are on the opposite side of the poll to that of Howards End but still have meaning to it. Then explaining how Forster can express Howards End so well that it seems he himself has lived there. At the end of evaluating the other homes and Howards End the along side the Forster explanation it is clear that Howards End is the core to which all the other homes branch from and make the story flow.

Essay --

The British occupation of Ireland was a major part of Ireland’s history. The British were brutal in their treatment of the Irish people, the Irish language, and the Irish culture. The Irish formed the Irish Republican Army or IRA in order to fight back. Through the independence movements and efforts of the IRA as Britain continued to brutalize the Irish country and its people, sentiments about what needed to be done or how to handle the British changed and Sinn Fà ©in broke away from the IRA. The connections between these two groups, their similarities and differences, are important parts of the legitimacy of the Irish movement for independence and the future of Ireland. The changes that have been made in these nationalist movements, particularly in the prominence IRA and Sinn Fà ©in, as time went on that has enabled a form of these movements to persist even until today. There were different types of people who were part of this nationalist revolutionary group that wanted to give Ireland back to the Irish. MacDonagh separates them into three categories, â€Å"first, those concerned with the ‘Irishing’ of Ireland; secondly, those which attempted to comprehend and build upon emergent rather than traditional factors in Irish life; and finally, those which tried to subordinate the local issues to larger, more universal themes.† . This is not always black and white and many of the Irish nationalist groups combined some of these goals. In regards to what MacDonagh says about the different categories or goals, the IRA seems to me to be a mix between wanting a more Irish Ireland and wanting to expand upon some of the new factors that made up Irish life. Sinn Fà ©in, on the other hand seems to be more of a mix between wanting to expand upon the new ... ... members, Sinn Fà ©in has persisted. Their belief in civil disobedience or more peaceful actions has brought them through the centuries and into the modern age. This peace is still a major part of their policies in the modern age as one of the largest political parties in Ireland. Through peace Sinn Fà ©in wishes to unify Ireland once more, and help their economy by uniting the Irish people in this common economic cause. They also are large proponents of peaceful international relations with the rest of the world. I feel that keeping their focus on peaceful change will help them to establish even larger influence all over Ireland and help them in their goals. Just as their belief in peace brought them into the modern age, it can also ensure the party and its supporters persist and bring them successfully into the future eras, whatever they may hold in store for Ireland.

Investigating Number of Stomata on a Leaf

Lab Design â€Å"Investigate the effect of a factor on the number of stomata of a leaf. † Research Question: How do differing leaf heights affect the number/density of stomata of a leaf? Hypothesis Stomata are pores, typically found under the leaf (lower epidermis), that control the gas exchange of transpiration, where water vapor leaves the plants, and carbon dioxide enters. I predict that the stomatal density on high leafs is higher than on low leafs. During photosynthesis the chloroplasts in the leaf cells synthesize ATP from ADP as a result of exposure to light, while oxygen is produced as a by-product of the photosynthetic reaction.Carbon dioxide, which enters the plant through diffusion via the stomata, is needed for this process (photosynthesis) to occur. When the chloroplasts in the leafs cell is exposed to higher light intensities, more ATP is synthesized from ADP, while production of the by-product oxygen also increases. This increase in the rate of photosynthesis ca lls for more â€Å"fuel†, i. e. Carbon dioxide. So for a higher concentration of carbon dioxide to diffuse into the plant, the plant must grow a greater stomatal density (higher number of stomata).This will create a larger surface area for carbon dioxide diffusion, the excretion of water vapor (transpiration) and the large amounts of oxygen being produced. As the higher leafs are exposed to higher light intensities I predict the stomatal density to be high. Lower leafs are exposed to lower light intensities due to, for example, shading by top leafs, and will so have a lower stomatal density than high leafs. Variables Controlled: Type of plant- The type of plant that is going to be used will stay the same, i. e. controlled.The type of plant that is used for this experiment is called Quercus Ilex. Amount of leafs (10 ‘high' leafs, 10 ‘low' leafs)- the ensure fair testing the number of leaves tested from each variable will be the same. Apparatus used- Same set up eac h time. Microscope magnification (400x)- Magnification at which the number of stomata will be counted at is at a magnification of 400x. Independent Variable: Leaf Source- The leaf source regarding to the ‘high' and ‘low' leafs is the variable which will be changed to test the difference in number of stomata of the two variables.Distance between high/low leafs- The distance between the height at which ‘low' and at which ‘high' leaves were picked each time had to be of a minimum of 20cm to ensure plausible results. Lower epidermis of leaf used to count stomatal density- Because Quercus Ilex is a dicotyledonous plant, the number of stomata on the lower epidermis will be higher than on the upper epidermis. This is because dicotyledonous plants hold up their leaves horizontally, which directly illuminates the lower epidermis. So, to prevent water loss, fewer stomata will then be located on the upper epidermis. Dependent Variable:Stomatal Density of high leafs Stom atal Density of low leafs Apparatus/Material 10 high leafs 10 low leafs Clear nail polish Slides Pincette Microscope Clear Tape Calculator Method Find a leaf source that has a significant height from which you will be collecting your leafs from throughout the entire experiment. Determine a low area, of little height from the ground, on the source from which you will pick 10 ‘low' leafs. Repeat step 2, except that the area must be at an increased height distance of at least 20cm, to ensure a fair test and collection of ‘high' leafs from a higher area than that of the ‘low' leafs.Choose a leaf of which the stomatal density is to be examined but don't pick it off the plant. This is so that the plants photosynthetic process will not be disturbed which could lead to change in the leafs natural state and affect your results. Paint a layer of clear nail polish on the lower epidermis of the leaf and wait until it has dried. Use your tweezers to gently peel off the dried la yer of nail polish. Gently peel the area of dried nail polish from the leaf completely. You should see a cloudy impression of leaf surface on the piece of tape. This is the leaf impression. Place the leaf impression to a clean slide.Label the slide for identification if necessary. Focus the leaf impression under a microscope magnification of 40x until it is focused and observe the leaf impression. Find an area that is clean of thumbprints, away from the edge of impression, has no damaged areas or big leaf vein impressions in view. When focused, observe the impression under an increased microscope magnification of 100x and make sure it is focused. When focused, observe the impression under an increased microscope magnification of 400x, the magnification at which you will count the number of stomata, and focus.Count the number of stomata you see in the field of view and record the number in a table under the relevant variable (‘high' or ‘low' leaf). To ensure a fair test, repeat steps 9-13 two times by choosing a new spot on the same leaf to focus on. Use the higher number of the 2 repeats to find the average later on. Repeat steps 1-14 ten times for the 10 high leafs and 10 low leafs. Raw Data: How differing leaf heights affect the number/density of stomata of a leaf One manipulation that was done to the raw data to help make it more useful for interpretation was the rounding off of ? Average # of stomata of ?Final?.. etc? , because firstly a stomata cannot be present in the quantity of a decimal and secondly, so that when drawing the graph all numbers have the same number of significant figures which will produce a neater and more accurate graph. Processed Data: How differing leaf heights affect the number/density of stomata of a leaf Magnification: 400x Field of View (FOV) diameter: 0. 45 mm Radius (r ): 0. 225 mm Surface Area (SA)/mm? N (? r? ) : 3. 14 x (0. 225)? = 0. 159 mm? |Leaf |# of stomata of ‘High' Leafs per 0. 159 mm? 2 Stomata) | | |1 |2 |Final | |1 |39 |35 |39 | |2 |52 |56 |56 | |3 |32 |38 |38 | |4 |50 |40 |50 | |5 |37 |34 |37 | |6 |53 |47 |53 | |7 |45 |42 |45 | |8 |43 |50 |50 | |9 |53 |49 |53 | |10 |42 |39 |42 | |Average # of stomata of ‘Final' per 0. 159 mm?  ± 2 Stomata) | | | |46 | Graphs Graph including processed data trial 1 & 2 for High and Low leafs: Blue: # of stomata on High leafs per 0. 159 mm? , trial 1 Red: # of stomata on High leafs per 0. 159 mm? , trial 2 Yellow: # of stomata on Low leafs per 0. 159 mm? , trial 1 Green: # of stomata on Low leafs per 0. 159 mm? , trial 2 Graph including processed data ‘Final's results for High and Low leafs: High Leafs: Mean value line with value 46. 3, standard deviation: 6. 993 Low Leafs: Mean value line with value 26. 2, standard deviation: 2. 3 Calculations Difference in mean > 46. – 26. 2 = 20. 1 Difference in S. D. > 6. 993 – 2. 3 = 4. 693 Because the standard deviations are much less than the difference in the mean numbe r of stomata, it is very likely that the difference in the mean number of stomata between High Leafs and Low Leafs is significant. T-TEST Null hypothesis: The number of stomata on high leafs and low leafs are not different. The differences in the data sets are the result of chance variation only and they are not really different. Mean of # of stomata on High Leafs: 46. 3 Mean of # of stomata on Low Leafs: 26. 2 t=8. 63 Degrees of freedom= (10+10)–2= 18 Critical value for t=2. 101 (P= 0. 05) Conclusion