Access to Bank Credit to Small and Medium Enterprises Essay Example for Free

Access to Bank Credit to Small and Medium Enterprises analyzeFinance function is the most important of all business functions. It remains a focus of all business activities. Financing SMEs has acquired enormous importance in contemporary world of finances. This is primarily due to the national focus and priority of various countries developed and developing ones as well. In the Sri Lankan context , the government has provided impulse to the authorities to increasingly cater to the emerging pecuniary needs of the SMEs. Bank and Institutional finance are expected to be made avail subject on easy and flexible terms and conditions and on priority basis. Small and Medium Enterprises(SMEs) are hit by poor access to funds. This so-and-so be castigate if financial institutions are able to assess firm- specific and general risks and offer innovative products. This as per my personal opinion tail be achieved by the ceremonious financial institutions even when the so called sound cr edit principles are applied in a firm-specific manner to suit individual borrowers. In order to die hard bank credit, SME loan applicant shall prepre an effective credit proposal of marriage ,in a way, that the financial institution could consider favourably.See more(prenominal) Beowulf essay essaySMEs such as restaurants, lathe-work shops, brick-kilns, grocery stores, rice mills, factories and farming etc. need finance to purchase with child(p) goods and raw materials, procure stocks, pay wages ,meet otherwise working(a) neat requirements and support expansion plans. Despite the efforts of the Government and support from the Ministry of Finance and Planning and the Central Bank of Sri Lanka by including SME as a priority empyrean and by providing refinance facilities , there continue to be a huge demand supply mismatch in SME financing.One of the major reasons for banks being unable to bridge this gap is the perceived credit risk involved in financing SMEs. This is primari ly due to non-availability of proper invoice accedes, valid bills and working capital management etc. As at present,to mitigate such credit risks , banks typically look for enhanced collateral or equity , both of which cannot be brought in by most entrepreneurs . Further, due to small size and local presence of SMEs , the transaction costs involved in financing them are relatively very spirited.However, the good news is that wider credit distribution could be made to SME sector using modern secured transaction law ,introduced recently by the Secured minutes Act 2009, which recognizes utilization of movable assets of a business as collateral to obtain credit. Further the Institute of Chartered Accountants of Sri Lanka(CA Sri Lanka)in its capacity as the sole accounting standard setting authority in the country has introduced a simplified financial reporting standard for the benefit of the SMEs in the country.The reporting framework so far has been a general setoff accounting sta ndards to be used by all organisations . In 2011 CA Sri Lanka published the Sri Lanka accounting standards for SMEs (SLFRS for SMEs) with effect from initiatory January, 2012. By removing some accounting treatments permitted under full SLFRSs, eliminating topics and disclosure requirements that are not generally relevant to SMEs , and simplifying requirements for recognition and measurement, the SLFRS for SMEs reduces the volume of accounting treatments applicable to SMEs by more than 90% when compared with the full set of SLFRSs.SLFRS for SMEs would be applicable for the entities that do not have public accountability (listed companies) and publish general purpose financial statements for external users such as Banks and supplier creditors. This will greatly help SME entrepreneurs to access other organizations in a formal manner and enhance their businesses, formerly they commence practicing this accounting reporting procedure.In the face of the banks reluctance to lend for want o f proper accounting records , these enterprises are compelled to resort to tall cost, non-continuous financing from money lenders and other informal sources , or continue to operate at sub-scale. However when SMEs start practicing and using above two facilities ( provisions in the Secured Transactions Act 2009 and the simplified SME Accounting recording procedure) the problem of enjoying credit from formal institutions such as Banks will be greatly reduced. Risks faced by any business can be broadly classified as idiosyncratic or systemic.Idiosyncratic risks are specific to an enterprise , like cleverness of entrepreneur or location of business. Systemic risks on the other hand , are beyond the control of any enterprise Such risks make up the environment in which a business operates ,that is, the economic environment, social environment, fiscal environment etc.. Thus the systemic risk involves risks due to change in gustatory sensation of customers, changes in economy and changes in tax structure etc. Therefore the key to financing any enterprise lies in the ability of the borrower submitting his credit proposal with relevant information necessary o financier to evaluate the loan applicant to manage the risks involved in the proposed business.High quality origination can help evaluate idiosyncratic risks specific to the enterprise, well. Traditional form of risk mitigation is to cushion the risks with as much as equity from the entrepreneur. A high quality local financier with geography and business specific information about such enterprises in the operational area will be able to evaluate and manage this risk well and will demand less equity to be brought in by the entrepreneurs.Systemic risks, up to now, are quite diverse from the firm-specific risks and are arising out of the changes taking place in the market characteristics. It affect the business in every aspect and as such is huge and no amount of equity is sufficient when the financier is uncerta in about an enterprise selling anything at all in the environment where demand patterns and economic situations can change very quickly. Therefore particularly in financing procurement of capital goods for long periods ,the banks search for cues to establish that the business has a current and next ability to service loans, even in an uncertain business environment.Hence in financing acquisition of capital goods it takes the form of project evaluation , however small is the business. Such situations can be managed by local bank branch which is quite familiar with the market environment of the locality. Thus the turnover and the other financials can be projected by the local bank branch staff in a more realistic manner using their friendship in customer preferences and scale of demand in the area. This helps banks to reduce the risk involved in project loan type term finance. Further more flexible and innovative evaluation techniques have to be used in considering term loans for SM Es.However, SME enterprises that have large number of cash transactions , poor record of sales, produce undifferentiated goods and lack known usual clients , assessment of systemic risk becomes very difficult. Such challenges, however, can be addressed through structures , that deliver financiers to trap cash flows by imposing conditions in the loan offer letter that permit resorting to a stronger and well established sales pattern in a supply chain. Some ways of financing working capital needs of SME businesses are supply chain financing where a supplier and a buyer have maintained books of accounts properly can be financed.For example , small enterprises that manufacture and supply sauces, jam and the like to large enterprises such as supermarkets can be financed if their cash flows are reconciled with bills , or by obtaining a collateral /guarantee from the company to which it supplies. Banks also can finance resembling transactions of SMEs by discounting Bills of Exchange draw n by the supplier( SME entrepreneur ) and accepted by the large enterprise to which supplies have been made. This provides part of necessary working capital needs of the enterprise enabling it to continue production at an enhanced scale.

Amnesty Essay Example for Free

Amnesty EssayEver since we started campaigning in 1961, weve extended around the globe to stop the abuse of human objurgates. Amnesty world-wide Goals and strategy AI aims to maintain every humans basic rights as established under the United Nations Declaration of Human Rights. In accordance with this belief, Amnesty works to disengage all Prisoners of Conscience (a POC is a person gaol for the peaceful exercise of their beliefs, which differs somewhat from the typical use of the term political prisoner). Ensure fair and active trials. Abolish all forms of torture and ill-treatment of prisoners, including the use of the death penalty. End state-sanctioned terrorism, killings, and disappearances.Amnesty International works to combat individual offences (e. g. one man imprisoned for distributing banned literature in Saudi Arabia) as well as more general policies (e. g. the recently overturned policy of executing juvenile offenders in certain U. S. states). Amnesty works pri marily on the local level but its forty-year history of action and its Nobel Peace Prize give it international recognition. well-nigh AI members utilize letter-writing to get their message across.When the central Amnesty International organization finds and validates to its satisfaction instances of human rights abuse, they notify each of more than 7,000 local groups as well as over one million independent members, including 300,000 in the United States alone. Groups and members then respond by writing letters of protest and push to a government official closely involved in the case, generally without mentioning Amnesty directly.Amnesty International follows a neutrality policy called the country hold stating that members should not be active in issues in their own nation, which alike protects them from potential mistreatment by their own government. This principle is also applied to researchers and campaigners working for the International Secretariat to prevent domestic politi cal loyalties influencing coverage. Recently, Amnesty has expanded the scope of its work to include economic, social and cultural rights, saying that these concerns had arisen out of its traditional work on political and civil rights.Its 2004 annual report said that it is difficult to achieve sustainable progress towards implementation of any one human right in isolation. AI will strive to assert a holistic view of rights protection. It will be particularly important to do so in relation to extreme poverty, and the human rights issues underlying poverty. 2 As an example it asserts that The right to effective political participation depends on a free media, but also on an educated and literate population. 3

Tesco: Dealing With Suppliers

Tesco Dealing With SuppliersBusiness ethics refers to the study of morality on what is discipline and molest that has been focus on moral standards as they are applied to the business, organization and behavior (Velasquez M.G., 2006). However, ethics can be defined as the application of morals to human activity (L. Manning, R.N.Baines S.A. Chadd, 2006). Therefore, good theories refer as the rules and principles. Ethical practices are grave as it gives power and influence of business in society and offer major contributions to society.The reason for selecting Tesco is because this political party is the third largest retailer in the world, which is encountering ethical and unethical practices that concerns much of the peoples daily life.Company BackgroundTesco was founded in 1919 by Jack Cohen from a market carrel in Londons East End. Over the years the business has grown and Tesco has 6,351 stores operating in 14 countries across Europe, Asia and North America (Tesco PLC, 201 2). They have over 520,000 employees and divine service millions of customers any week (Tesco PLC, 2012). Tesco is known to be the world third largest retailer selling groceries, household items, general merchandise and etc. However, Tesco is the second largest retailer in term of profits. Through tabu the years, Tesco never stop expanding their business tour similarly taking over other supermarkets which leads them continue growing. In Malaysia, year 2001 Tesco partners with Sime Darby and started their first store in Puchong in year 2002. In year 2009, Tesco was recognized as the number one hypermarket in Malaysia.Ethics is important for Tesco to swan their valu up to(p) spirit and to build Tescos success. Hence, Tesco have to conduct their business in a manner of legal and ethical. Currently Tesco keep improving their merchandise, systems and stores to show that they are green, recycling-friendly, fair concern and ethical. Tesco aim to gain reputation of being ethical in t heir business following the footsteps of some ethical companies like The Body Shop which are retailer and manufacturer of naturally inspired and ethically produced cosmetic products. Body Shop is a community who appreciates the environment and social impact in its supply chain. Thus, the company ethical practices can be reflected in its Community Trade Programs and Ethical Trade (Business In The Community, 2012).2.0 Ethical Dilemmas2.1 Stakeholder TheoryThe method use for the analysis is stakeholder analysis. correspond to Edward freewoman (1984), a stakeholder in an organization is defined as group of man-to-man who can affect, or is affected by the achievement of the organizations objectives (Freeman 198446).Evan and Freeman (1993) stir two principles in order for a more precise definition of affects and affected by. First, principle of somatic objurgates which is the corporation has the obligation non to violate the rights of others. prescript of corporate effect refers t o companies are responsible for the effects of their serves on others.Stakeholder theory comprises of competitors, customers, employees, community, suppliers, portion outholders and government (Appendix 1). harmonise to Freeman, others have a legitimate claim on the corporation. However, Freeman (1984) argues two perspectives which is the legal and economic perspective. Legal perspective is a legally binding contract which is cling toed legally in some sorts while economic perspective is outside contractual relationships.Role of management by Freeman, states the broader view of responsibility towards multiple stakeholders assigns a new purpose to management. Rather than adept agents of shareholders, the management has to take into account the rights and interest of the stakeholders. There are two models suggested which is stakeholder democracy and corporate governance. Stakeholder democracy gives the stakeholders the opportunity to influence and having control over corporate decisions. Whereby corporate governance regulates and codifies various rights of the stakeholder groups.2.2 Ethical Dilemmas of Tesco2.3 SupplierEthical dilemmas encountered by Tesco are suppliers. Tesco being one of the market leading is using its strength in the market place to de digestr unbeatable value which in turn forcing the suppliers to push down prices of vegetables, meat, garments and etc. Therefore, this action shows that Tesco is paying its suppliers 4% below the sedulousness average and has cause some UK farmers on the brink of bankruptcy (Friends of Earth, 2005).In addition, Tesco often make unnecessary demands on farmers to guarantee uniform products. Therefore, it became national standards ineluctably (Friends of Earth, 2005). There have been also incidents whereby Tesco cancelled order at the last minute and this has cause financial losses to the suppliers especially to the farmers.Next, Tesco is loading various risks and cost of its fresh-produce business onto farmers whereby also passing it to the workers particularly woman (Oxfam, 2004). Tesco push the price below cost of production illustration a basket of food which contains eggs, milk, bread, tomatoes, rush and apples which would total up for 37 whereas the farmers only get 11 (Friends of Earth, 2003).At the kindred duration, Tesco also tie suppliers to depend on cheap seasonal labor and exposing workers particularly woman to intolerable living and working conditions. However, the woman workers are employed in the form of temporary and irregular employment without basic rights. According to Oxfam (2004), Tesco put pressures on South African fruit and wine suppliers by making them to pay for promotions and paying them below cost of production.2.4 CommunityAlthough Tesco has huge share of the market, this unethical practice towards suppliers will affect the communities.The unethical practices of Tesco will affect the communities by having low job security for workers such as fa rm workers. unending jobs will be lesser as more contract and temporary savvy will be required. Therefore, workers is seen to have no job security as they are required to become seasonal workers working only 8-11 months a year and leave out their benefits of a permanent employee (Friends of Earth, 2005). However, casual woman labourer lose out on benefits, as men get everything like boots and uniform while woman gets nothing when they work all year in a pear farm (Action Aid, 2005).Subsequently, Tesco affects the communities in terms of unemployment. When farmers fail to cover their cost of production, it will become a norm of being in debt. Thus, this affects them to be out of business and creating the way for the end of the small and family farms (Corporate Watch, 2004).Next, the unethical practices of Tesco affect the communities on their cost of living. As Tescos aggressive buying practices force suppliers to push their prices down. As a result leads them to receive poverty w ages and unable to fulfill their daily basic ask. Wages are so low that they are unable to maintain standards of living whereby families are often malnourished (Clean Clothes Campaign, 2009). For example Tawana Fraser who work in the pear farm that supplies to Tesco says that although wages of 32.50 were paid every two weeks, she cant even afford to go to school functions, buy school uniforms and even cant pay for her daughters school fees (Action Aid, 2005).Besides that, Tesco affects communities on their poor living conditions. Workers live in dismal housing where they only sleep on the floor with a plastic sheet with no electricity and water. Furthermore, walls of the shack are make of cardboard.Subsequently, the unethical practices of Tesco affect the communities by having unsafe working conditions. Workers have no protective clothing and gloves when working while they have to climb wet leaders that are still wet from pesticides to pick up pears from the trees (Action Aid, 200 5).3.0 Dealing with the dilemmas3.1 SupplierTo deal with the dilemmas, Tesco joint venture with Impactt Limited (company that provides training, advice and develop ethical trading strategies) to crawl in ethical buyer training for Tesco buyers around the world. This training is to raise buyers awareness on ethical issues and the effects that purchasing practices can have on labour standards of the suppliers (Impactt Limited, 2012). This training also aims to teach them to understand and reflect ethical considerations in their purchasing practices and also broad(prenominal)light that buyers are responsible for ensuring that their behaviors do not force suppliers to cut corners (Tesco International Sourcing, 2008).Besides that, Tesco has committed to fair trade by signing up the Governments Supplier Code of Practices (Friends of the Earth, 2005). It was revised and strengthened in 2008 to protect the suppliers from exploitation.Next, Tesco also deals with supplier dilemmas by introd ucing supplier viewpoint independent annual survey. The suppliers are required to answer this anonymous survey, which allows suppliers to voice out how they feel about working with Tesco (Tesco PLC, 2012). Hence, this allows Tesco to understand the problem the supplier is facing whereby enables Tesco to understand and rectify the problems with their supplier.3.2 CommunityTesco deals with their dilemmas by emphasizing on two over riding priorities on ethical trade. Thus, with the two over-riding priorities on ethical trade, Tesco is committed to ensure the well-being of workers in the supply chain, to ensure no human rights abuses and at the same time ensuring sustainable environment impact (Tesco International Sourcing, 2008). On top of that, Tesco being one of the founders and the members of Ethical Trading Initiative (ETI) uses ETI base code as a standard for all workers in the supply chain (Appendix 2). Whereby, Tesco made efforts on monitoring to help the workers to improve co nditions and address entrenched problems.To deal with community dilemmas, Tesco also implement Supply Chain Impact Assessments whereby frequent visits by Tesco personnel to better understand what the challenges the workers are facing. Whereby using participatory interviews, third party audits to bundle information from workers about their workplace concern. Furthermore, Tesco have been working with UN representative, South African partners on human rights to pilot principles that can strengthen effective grievance mechanism. For example Tesco have piloted a farm level grievance mechanism which involves more than 3000 workers to voice their problems they were facing.3.3 Apply one ethical theory into dilemmaEthical theory refers to rules and principle which decide the right and wrong in a given bunk. Ethical theory consists of two ethical theories which are normative ethical theories and descriptive ethical theories. Normative ethical theories suggest the morally correct way of acti ng while descriptive ethical theories describe how ethical decisions are made.The role of ethical theory by Richard De George (1999) suggests two extreme positions which are ethical absolutism and ethical relativism. Ethical absolutism is universally applicable moral principles which the right and wrong are objective qualities. However, ethical relativism claims morality is context dependent and subjective, whereas there are no universal rights and wrong that can be determined. It depends on the person, culture and location (Crane, A. and Matten, D., 2007).Under normative theory, it consists of traditional and coetaneous ethical theories. Traditional ethical theories are separated into consequentialist and non-consequentialist theories (Appendix 2). Under consequentialist theories, egoism refer to an action which is morally right when decision maker is free to decide to pursue their individual short term desires or long term interest. According to raptus Smith (1793), it is morall y acceptable when individual interest pursuit through invisible hand of market which creates benefit for all. Next, utilitarianism refers to an action which is morally right if the termination is greatest amount of good for the greatest amount of people affected by the action.Utilitarianism has been chosen to apply in supplier dilemma. Through a utilitarian perspective, we can see Tesco acts in a way to produce the greatest possible balance of good over dissatisfaction of their suppliers. Tesco implementing low price policy which sooner pushes the price lower of the products from their suppliers which cause supplier to suffer from huge lost. Although forcing the suppliers to lower the price is unethical, yet with Tesco low pricing policy it creates the greatest amount of mirth for the community while the company can enjoy higher profits. As a result, if low pricing gives happiness and more benefit to the community, Tesco do not need to think about how unethical their practice is towards the suppliers.However, under non-consequentialist theories it is carve up into ethics of duties and ethics of right and justice. Ethics of duties by Immanuel Kant (1724-1804) argues that morality and decisions of right and wrong could not depend on a state whereby it is let alone on the consequences of ones action (Appendix 3).For ethics of right and justice, natural rights are important, certain basic, inviolable entitlements that should be protected and respected in every action. Hence, justice refers that together all individuals must receive fair treatment in a situation whereby the outcome is everybody get what they deserve. According to Locke (1632-1714) the most important rights are rights to life, freedom and property (Appendix 4).Next, under normative theories which consist of contemporary ethical theories are divided into virtue ethics, postmodern perspective, feminist ethics and discourse ethics (Appendix 4). However, descriptive ethical theory involves two fact ors that influence the decision making which are individual and situational factors (Appendix 5).4.0 Organization topper set and practices4.1 Best PracticesPG current practices are supplier engagement. PG work closely with their suppliers across the entire supply chain. In order for them to add together the best thinking that benefits the brand and business, PG implement supplier scorecard which is to improve supply chain environmental issues while also encouraging sharing of capabilities and ideas in the supply chain which leads to deliver better products and services to consumers (Procter Gamble, 2012) (Appendix 6).Based on the best practices of this company, Tesco should emulate the footsteps of the above mentioned company to achieve the best practices.The best practices Tesco should embrace are supplier engagement. Tesco could launch a supplier scorecard to measure and track the supplier environmental footprint while also a way to communicate with suppliers. Subsequently, sc orecard creates a platform to receive feedback, sharing of capabilities and get ideas from suppliers. Thus, with the ideas and feedback Tesco could fine-tune its own procedures to communicate better with their suppliers for further improvement such as work practices and environmental issues. However, having better communication and good relationship with suppliers also gives suppliers better opportunity for business which in turn suppliers would not act unethically.4.2 Best valuesNext, the values of NTUC Fair Price Hypermarket in Singapore are responsible retailing. Product safety and food handling is an important element in Fair Prices business to raise the standards of food safety in Singapore for their customers. As a result, the company is certified with Hazard Analysis Critical chequer Point (HACCP) which is the management system for the assurance of food safety and ISO 9001 attribute management system (Appendix 7).Based on the values of this company, Tesco should emulate the following values of the above mentioned company.The best value that Tesco should also adopt is food quality and safety management. In the food retailing industry, food quality is the most important values that could deliver excellent standards for food and products consistently. By offering quality products to the customers, customers will have the trust and confidence to shop in Tesco. However, Tesco can launch Hazard Analysis Critical Control Point (HACCP) Program which is a management system for the assurance of food safety. Thus, by adopting food quality and standards Tesco is able to increase the confidence level of customers that they are receiving high quality, safe products.In addition, Tesco can implement ISO 9001 (quality management system) to ensure that they conform to standards by ensuring the highest food quality and food safety for customers. Thus, by Tesco implementing these values, it is able to show that Tesco prioritize responsible retailing.4.3 Apply one ethica l theoryNormative theory consists of traditional and contemporary ethical theories. Under contemporary ethical theories there is postmodern ethics which refers to questioning everyday practices, rules and to listen everyone and follow their emotions and gut feelings about what they think is right and wrong in a decision making (Crane, A. Matten, D., 2010)The best practices of supplier engagement can be applied with postmodern ethics as Tesco call for to have good communication and work closely with their suppliers in order to be a successful ethical company. Therefore, by applying postmodern ethics Tesco needs to question their suppliers on environmental practices and make sure they follow consistently supplier trading policy. On top of that, to make sure suppliers maintain high ethical standards on environmental issues and work practices. At the same time, also listen to suppliers sharing of ideas or listen to problems encountered by supplier which relates to work practices and e nvironmental practices. By Tesco making sure their suppliers follow procedures consistently it will reduce the chances of both parties acting unethically.5.0 ConclusionPracticing good ethics is important part for every company as it helps to maintain the companys reputation and brand image. Hence, when Tesco have bad reputation in ethics will lead to loose customer or community trust and loyalty. Whereby, in year 2012 shows Tescos market share first time in seven years have drop below 30 % which is 29.9% (BBC News, 2012). Therefore, for Tesco to gain back their market share, Tesco have to act ethically to gain back the communitys trust and confidence level in their practices and products. Hence, by Tesco acting ethically it enables Tesco to continue maintaining their position as the third largest in the world.Furthermore, Tesco have to act ethically in every aspect they deal with to benefit the communities. At the same time, also acting ethically in their business in order for them to penetrate into more countries to maximize the shareholders value, increase companys profit and deliver sustainable emersion year to year.

Human resource Management in International Expansion

Human resource Management in International ExpansionIn todays international environment when expanding a business in to a nonher country IHRM would play a handle new key role. in that respect can be identified very lead 6 differences between domestic and international HRM. They are more(prenominal) HR activities, need for broader perspectives, the more involve with employees personal life, risk exposure, broader external influence, changes in wildness as work force mix of banishs and locals.IHRM is concern with staffing policies, recruitment and selection, remuneration, motivation, training and development, performance appraisals, promotion, retirement, redundancy and lay off, industrial relations and foreign assignments.Expatriates are the employees who is running(a) and temporarily residing in a foreign country. They could be PCNs, TCNs or HCNs.Due to the development of technologies such as telecommunication, satellite and computer technology and lower address in going bus iness globally has made the IHRM much more primal and easy to manage when compared to the last to few decades.For any giving medication that hold global operations all around the world IHRM would play a Key factor for the order success. seance 2When a organization do business internationally, understanding the cultural deferences among the countries is very essential to be in(predicate) in the con statusrable run. This is because operations starting in another country, if thither are huge cultural difference among the parent and the subsidiary companies would face varies implications.According to the Hofsteds there are 5 cultural damnations.Power distanceThis is the extent to which supply is distributed unequally among the employees in between the higher flummoxs and the lower positions. Eg India is a high power distance culture (even bring a cast system) and USA is a lower power distance culture.Individualism vs collectivismsIn a individualistic country people would prior ities them self ( USA) where as collectivism country people would priorities aggroup needs.Uncertainty avoidancePeople would try to minimize risk they face in a situation ( avoiding paralysis with analysis ) usually countries with long history and traditions adjudge a high uncertainty avoidance. Countries such as USA well come higher risks.Masculinity/femininityMasculine- tough prize dominant Eg success, money, satiates, competitionFeminine- tender values dominant such as personal relationships, care for others, quality of life etc. When we take Sri Lanka for a modeling I think we have feminine culture even though have numerous masculinity futures. The dress hat example for this is during the tsunami situation whole county she-bop together to help the tsunami victims within ours.Cross-cultural communicationSimilarly, among various countries cross-cultural communication is very necessary so that they can understand each others through religion, culture, art, literature, forei gn policies, fiscal polices, etc. such type of bridges of understanding testament help to lessen and minimize the gap between two culture. Thirukkural, a noted tamil poet, who has been translated in more than twenty five languages and who had been famous for ethical themes and brevity, has very aptly remarked on power of speechThe uprightness called adeptness of speechIS honourableness which nothing can reachSince gain or ruin speeches bringsGuard against the slips of tongueWeight the words and, speak, becauseNo wealth or virtue words surpass.They everywherespeak who do not seekA few and flawless words to speak(Gupta .reprint 2004)It is said that speech is g placer than words, mind is greater than speech, will is grater than mind consciousness is greater than will, meditation is greater than will and power of understanding is greater than meditation.sanakumara, surmonzing narad atma vidya or brahmavidya ( cutledge of the supreme) says power of understanding beings sine quo non for proper meditation, thats is greater than meditation. If we cannot correctly understand and discriminate good and bad, truth and untruth and discriminate between good and bad, truth and untruth, and the like pairs of oppo identifys, how can we meditate? Thus there is no doubt that the power of understanding is linked with speech, one of the tools of communication.Session 3There are many activities effecting the IHRM in a organizational context. industrial relations, health and safety, management style, authority structure, organizational structure, leader ship style and etc.And organization could implement a different structures such as global product division, global area division and global matrix structure depends on the situation, subsidiary age and size structure adopted. Controlling of subsidiary would have both formal and informal control systems. Formal modes would be structure, reporting systems, budget and targets where as informal rules would be cooperate culture a nd personal relationships.we know round(a) of the transferable HRM policies such as physical lay pops, use of technologies, holiday entitlements, quality circles depending on the culture, motivation and leadership style, performance appraisals and etc. company expatriates would have to perform the key activities when implementing the procedures in subsidiary an at the same time adopt the suitable local norms, standards and value in to the system to make it more localize the operations. Improving the performance, implementation of corporate culture, solve technical problems, handling of sensitive information, reduces risk, improve trust and team working skills are some of the important functions that expatriates should perform during a foreign assignment.Future more political stability, country infrastructure, technology and resources available in the country, organizational and national cultural differences should be feeling to when implementing IHRM policies.Session 4When starti ng a subsidiary in a foreign country, there are many reasons why expatriates are needed. Teaching a new process, setting up a new branch, facilitating the knowledge transfer between parent and the subsidiary, helping branch to implement a matrix desegregation is some of the purposes. This would as well depend on the relationship between parent and subsidiary, amount of investment, other host country environment factors. Depending on the host culture, size and the maturity of firm, relative importance of the subsidiary, moral and ethics balancing of standardization and localization of HRM could be through.Localization would be the recruitments, holidays, leave procedures and etc. according to Huo the best IHRM practice ought to be the ones best adopted to culture and national environment.Developing staff members investing in human capital, career development, good working conditions and good management practice could help the organization to retain and attract skilled and qualifie d labour force in to the organizations. In Sri Lanka Mas holdings is a very good example for a organization which is practicing this methodSession 5There are many ways of staffing international operations. They are ethnocentric, polycentric, geocentric and regiocentric. Each of this method has it own advantages and disadvantages. Most of the companies use ethnocentric approach at the initial stage and move to polycentric approach after some time. Eg- after operating Sri Lanka for many years Coca Cola has appointed a Sri Lankan as a country head for the first time.Organizations use expatriate for international assignment as position filling, management and development and for organizational development. They could be assigned for varies time periods and would have many roles to play as expatriate such as mover of control/ tenderization, network builder, boundary spanner, language node, transfer of knowledge etc.Non-expatriates are people who travel internationally, yet no conceder a s expatriate as they do not relocate to another county.. Examples for non-expatriates are auditors, inspection department, regional managers etc. even though its a glimmers life on first site non- expatriates would have high level of stress because of family working arrangements, health concern and host culture issues.Even expatriates would face lot of difficulties such as match and family problems, lack of cultural sensitivity, reluctant to change and adopt, them us mentality, home country mentality and etc. There for organizations must use most appropriate method when selecting a person for a expatriate job.Session 6When recruiting a expatriate for a international assignment organizations has to be extremely concern. This is because expatriate bereavement is extremely costly for an organization. Career advancements financial incentives, interest in countries, interest to travel are the factors that motivate the expatriates. For expatriate to be successful in a foreign assignment they have to have the job knowledge and motivation, job related skills, be flexible and adoptable, helpful family situations and extra cultural openness.Expatriate blow could be defined as premature return or under performance during the a foreign assignment. There could be varies reasons for early return of a expatriate but direct cost of the failure is extremely high for the organization. Eg- salary and training cost, airfares, relocation expenses, exchange rates, replacing the failed manager etc. validatory costs would be the damagers to the relationship with stake holders, family relationships, and negative effects on the local staff members.There are four phases in cultural adjustments which expatriate has to go through in a foreign assignment. They are,Tourist every thing is new and enjoyableCrisis/ cultural shock see differences and negative side off the new culturePulling upAdjustmentThere is a high possibility of expatriate to exit during the cultural shock period. The re for in this each stage organizations would have to take many steps to easy the situation.. Eg- food, customs, cultural values(seniority), home sickness etc.Session 7homework and development of expatriates is essential for the success of a intentional assignment. This is because expatriates are send to subsidiaries to show how systems and procedures work, ensure adoption and motivation of performance. There for cultural differences and business out comes attitudes and how it effects the behavior, facts about the target country, skill building and language is some of the areas that organization should look in to.Effective pre-departure training should include cultural sensory faculty programmes, preliminary visits, language training, non traditional assignments and training etc. future more practical assistance for relocation, find accommodation and schooling, future language training, would also land to adaptation of expatriates and his family members to settle down.Many methods could be use ot train the expatriates and many examples Some off them was showing videos, giving case studies, role play and take a experience mentor.Session 8Multinational organizations would face lots of performance management issues and expatriate re-entering career issues. Performance management is also a way of controlling the subsidiaries. It also contribute shape the organizational culture. HCNs and non-expatriate performance would have to be evaluated separately.Appraisal of host country nationals could be done with standardizes company evaluation form. But customization of the form according to the local staff should be done to get the maximum benefits to the all parties. Performance evaluation criteria would be done on hard goals, soft goals and contextual goals. When evaluating the performance of a non- expatriate stress associated with constent air travel, family relationship issues should also be considered.Expatriate performance would be evaluated on how well he/she achieve organizational targets, relationship and network build up with key parties, implementation of cooperate culture in the organization and etc. evaluation results would also have a impact from who is doing the appraisal, frequency, timeliness and use of standards and customization of the appraisal form.Re-entry of expatriate after completion of foreign assignment would also have to be given consideration. Preparation, physical relocation, transactional readjustments are the phases which have to go through again. To retain the staff in the organization and repatriation pre-departure career discussions, naming a contact person, succession planning and etc could be done.Eg- decrease of living standards, children schooling issues and etc.Session 9For a multinational organization to be successful they should have a good compensation package in place for their employees. This is because different countries different currencies, labour laws and customs are in place. There for expatria te pay should be determine according to cost of living, hardship, currency fluctuations, health care, housing, taxation and education expense of children.To determine the compensation package awarded to the expectorates going rate approach and balance sheet approach can be used. Even though both approaches have its advantages and disadvantages the balance sheet approach is the most unremarkably used system in multinationals. Balance sheet approach would consider about the goods and services cost, housing cost, income tax and reserves when determining the benefit package.Session 10When a organization do business with a another country to make this transactions successful knowing the business ethics and social customs are very essential. Different countries have different values, practices, and taboos which you have to understand and be respectful.From country to country the way they use first name, title, position and states, dining practices, tipping, gift giving, and that an trave ling etiquettes, greetings, superstitions and taboos differ.Japanese people shows and have a grate respect to the business card and exchange and consider are in tipping as a insult. Different countries have different meal times, number of courses. Eating every thing in the plate or leaving some thing in the plate could be reason to be offended in some cultures. Some times its better not to know what is in your plate which you are serve to eat and be restrain form giving comments on the foods. ( it is better to eat without knowing whats in the plate (eg- wienerwurst meat, snake meat) without offending your counter party.)When going abroad for business deal proper dressing, footwear and packing and even and quality luggage could add some value to your transaction. Male and female relationships would also in a differ from culture to culture and it is wise not to use you are hummer during a business meetings . holidays and holy days also differ from country to country according to the religion they and practice and the traditions. And organization should looking to this because many cultures do not make any business decisions in holy days.Even though bribery is conceder illegal, unethical and immoral it almost take place all over the world. But if an organization is doing this kind of transactions they would have to be extremely careful because it could lead to fines and damage of organization reputation.

Pros and Cons of Tidal Energy

Pros and Cons of Tidal dynamism As the worlds energy crisis progresses, renewable energy sources like tidal power be being explored. Tides, the rise and fall of ocean levels, argon created by changes in the gravitational forces of the sun and moon as well as the earths rotation. Tidal Energy is generated by converting gravitational likely energy of laid-back tides into hydroelectricity. Most ocean environments experience two high tides and two low tides everyday. There are triad main ways to harness tidal energy, each with their own pros and cons. The first rule of tidal energy genesis is the tidal stream rootage, the second is the tidal barrage and lastly there is dynamic tidal power. Tidal energy is not yet widely used but some people swear that it has great potential for future energy coevals. This paper will examine the environmental effects of the different methods. The concept behind the tidal stream generator method is very similar to that of an under pee windmill a s the tide flows in and turn out of a bay it spins an underwater turbine which generates power. Tides move slowly, but because water is much denser than air, it give the sack move much slower while providing the same power. The environmental benefits of this technology are numerous. Tides are always either flowing in or out allowing tidal stream generators to supply constant, consistent and emission free power. This is a benefit oer other the other methods of tidal generation that can only generate power when the tide moves in a specific direction. Also, tidal stream generators are much, much cheaper than other methods of tidal generation allowing them to be easily implemented and tested. Although very few studies have been done, it would seem fish avoid the turbines used in tidal stream generators resulting in or so no aquatic fatalities. This means tidal stream generators have no known impacts on the surrounding ecosystem. There are not many environmental disadvantages to tidal stream generators. The turbines may cause some minor disruption to aquatic animals, but this is yet to be proven. The only environmental damaging cyclorama of this technology would be the work involved with maintaining and installing the underwater turbines. However, as a relatively unknown source of power, there is much of time for improvements. The tidal barrage is a heavy(p) dam-like structure create at the mouth of a bay, stream, or estuary which experiences a large tidal range. It allows water to flow into the basinful by means of the sluice gates during high-tide and during low tide releases the water through turbines. Turbines trap the energy from the movement of water in and out of the basin. This method of amass energy has many environmental benefits. Firstly, because tides come twice a day, a tidal barrage will supply predictable, consistent and emission free power. This method is able to collect more energy than tidal stream generators because it essentially conver ts the potential gravitational energy of the tidal range in an entire constituent into electricity. Although barrages are expensive to build, they can be conveniently built under existing bridges. This reduces cost and some impact on the natural surroundings. There are, however, many environmental concerns with this kind of operation. Barrages have a great effect on the surrounding ecosystem. One of the main problems with the construction of a tidal barrage is it can halt the flow of saltwater into and out of estuaries. This can negatively affect the resident marine life. Also, migrating fish are only able to pass through the sluice gates as the basin fills with water. When the gates close, the fish will swim through the turbines. Currently even the safest designed turbines kill fifteen share of the fish that pass through. This can have a signification effect on the fish population. Finally, tidal barrages block down payment movement. This can causes an accumulation of sediment a round and in the barrage which could impair its functionality. Also, by blocking sediment movement it decreases the turbidity in the basin allowing for an increase in phytoplankton which effects the food for thought chain of the ecosystem. Lastly there is dynamic tidal power, a promising new idea with great potential. A large barrier, perpendicular to the coast, is built out from the shore and an adjoining barrier is built along the far end of the first barrier making a T shape. This barrier blocks the acceleration of the tides reduplicate to the coast creating a difference in the water levels on each side of the barrier. A series of turbines installed in the dam can convert the potential energy of the higher water into electricity. The main difference between this source of tidal generation and the others is that to be economically viable it must be everywhere 30 km in length. This is because the power output is proportional to the square of the dam length. The idea was propose d by Dutch coastal engineers Kees Hulsbergen and Rob Steijn. It has only been tested in computer simulations. Dynamic tidal power like the other types of tidal generation is emission free and resource independent. The environmental benefits of this method over the others boil down to the huge amount of energy that can potentially be generated in coastal regions. Even though it must be built on such a large scale, simulations project that it could potentially generate and 8GW of installed capacity which is thirty percent more power than the Bruce Nuclear Generating Station. If two are built around 200km apart an almost constant stream of power can be generated. Also beneficial is that the dams dont require a naturally high tidal range like both tidal barrages and stream generators. So countries like China, Korea, and the United Kingdom could potentially generate huge amounts of power. It is estimated China unsocial could generate over 100 GW of power. The environmental risks of dyna mic tidal power is mostly in the construction of such a large structure. The building of something so massive wastes a lot of fossil fuels. Also, a barrier of that size could disrupt migration patterns of aquatic animals. Although as the barrier does not seal anything off sea creatures can always swim around. Each method has its own benefits and detriments. Tidal Stream power although not harming to the environment returns the least power, tidal barrages have the readiness for large scale power generation they can hurt the ecosystem they are uses in, and dynamic tidal power which can be used to generate large amounts of power in many coastal locations is very very costly to implement and has never been tested. One method does not replace the other as they all are operate in different conditions. Development of this new technology is important and must be continued.

The DJ Booth Essay examples -- essays research papers

The DJ BoothEven while standing inside a DJ booth can be noisy and obnoxious, the excitement of playing music and controlling a huge crowd sends and unexplainable feeling through your body.When I first step into a DJ booth at Club Centers, located in the heart of Rochester, New York, my nerves start going crazy and butterflies hit my stomach so debased it feels like I have to puke. Just the sight of three turntables and an eight-channel mixer in front of my face is like sending a little pip-squeak into a candy store. While standing in front of my tables, I look to my right and I see my soundboard. This high-tech, silver plated sound machine stands somewhat seven feet tall with about three hundred switches and knobs that control high pitches, low pitches, medium pitches and all of the digital effects. This soundboard is used when I congeal a shiny new record on one of the turntables. This will distort the sound quality of the song. The music sounds like a fire alarm, first with a deep sound then rising to a high pitch screaming noise. As I look to my left, you see my beautiful sandy light girl working my light board. While the music is playing really loud, she will hit certain buttons that will make multi-colored lasers go in different directions and make many different shapes. Also, while the music is jammin...

A Figurative Ad :: Advertising Media Essays

A Figurative Ad Advertisements display many examples of ethos, pathos, and logos. Many ads use celebrities and flat emotional appeals toward their audience. The ad I will be talking about is a figure skater endorsing a watch and demonstrating ethos and pathos. Overall, the advertisement is useful and effective when displaying ethos and pathos. go for a one page advertisement that has enough information to understand what product is being sold. The first thing to draw attention to the eyes is the contribution of color. The top third of the ad has a black background and the bottom is a white/gray color. In the black part of the ad be a womans head and hands. She is looking in to your line of vision and it is clear she is holding her hands up in front of her proboscis but, they appear to be behind because her head is turned toward whoever is looking at the ad. Then, I was drawn to look at the small print underneath her vista and the words Sasha Cohen, champion figure skater are fo und. It turns out that the woman in the ad is Sasha Cohen, a famous figure skater. The next part of the advertisement is underneath the black portion containing Sasha Cohen and it shows a watch and lettering. On the page, this watch is so big it is bigger than the skaters head. The watch is gold and silver colored with just about diamonds on the rim. Clearly this watch is expensive and fashionable. After viewing Sasha Cohen and the watch, the eyes are drawn to read about the product. Beside the watch in the same genuinely small black print used below Sasha Cohen, it says ECO-DRIVE Riva. To get a full understanding of the product you permit to look at a tug of words found on the right side of the ad. In this order, are printed the words UNSTOPPABLE. Below that in black and less bold words is SASHA COHEN IS. So is her citizen Eco-Drive. Fueled by light, it never needs a battery. ITS UNSTOPPABLE. Just like the people who wear it. All these groups of sentences are put together on th e ad and appear vertically as you read. Then below, you see a symbol of the Citizen Eco-Drive watch and the name below and below that contact information. Now that you have the main visual of the ad, I will explain why this ad demonstrates both ethos and pathos.