Wednesday, July 31, 2019
Tata Consultancy Services Research Report
25 November 2012 Sector: IT Consulting & Software CMP: 1288 Rating: BUY Target Price: 1500     Stock Info Investment Period: 15months Introduction: Tata Consultancy Services Limited is an Indian multinational information technology services, business solutions and outsourcing Services Company founded by JRD Tata in the year 1968 headquartered in Mumbai. TCS is a subsidiary of the Tata Group. It is one of India's most valuable companies and is the largest India? based IT services company by 2012 revenues. It has 183 offices across 43 countries and 117 delivery centres across 21 countries.It also has 58 subsidiary companies. Products : TCS provides a wide range of IT rela ted products such as; application development, BPO (business process outsourcing), consulting, enterprise software, payment processing, software management and education services. Following are the service lines and their percentage to the total TCS revenue in the Q2 2012? 13:? Application development and maintenance: ADM is a part of IT that works with the business to develop new software, keep it running and make ongoing improvements.Asset leverage solutions:   Assurance services: Assurance services provide independent and professional opinions that reduce the information risk (risk that comes from incorrect information). Business intelligence: BI is the ability of an organization to collec t, maintain, and organize knowledge. This produces large amounts of information that can help develop new opportunities. Market Cap: 2,52,109crs Equity: 195. 7crs Face Value: 1 52 Week H/L: 1438? 1045 Key Financials (in crores)  Net Sales EBIDTA Margin % Net Profit EPS Dividend FY 11? 12 38,858. 55 33. 87 13366. 33 55. 97 25 FY 10? 11 29,275. 0 29. 47 8700. 44 38. 62 14 Valuation Summary FY 11? 12 20. 60 8. 5 55. 31 44. 24 0. 72 FY 10? 11 23. 7 10. 4 44. 38 38. 80 na Price to Earning Price to Book RoCE % RoNW % Beta Absolute Retune 3months 1year 5. 3% 3years 131. 7% TCS 30. 1% Sensex 3. 70% 17. 90% 7. 70% Share Holding Pattern (%) Promoter FII DII Retail 74 15 6. 5 4. 5 Promoter and Promoter group: Tata Sons Ltd – 73. 75% Others – 0. 25% Foreign Institutional Investors: Number of FII Shareholders – 853 some of them include; †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ Domestic Institutional Investors: Life Insurance Corporation of India – . 10% Franklin Templeton Investment Funds – 1. 67% Others – 1. 73% Retail : Individuals with value less than 1lac – 3. 5% Individuals with value more than 1lac – 1% Dividend Policy (Mar’12): Indicators TCS Wipro EPS D/P Ratio (%) D/R Ratio (%) Div Yield (%) Face Value Book value  55. 97 52 48 1. 94 1 19 36. 60 63. 40 1. 64 2 HCL 28. 13 49. 50 50. 50 1. 87 2 95. 25 Business process outsourcing: BPO is a subset of outsourcing that involves the contracting of operations and responsibilities of specific business functions or process to a third party service provider.Consulting: IT consulting is a field that focuses on advising businesses on how best to use information technology to meet their business objectives. Engineering and Industrial services:  E deliver engineering excellence and operational efficiency, ensuring a competitive advantage. Enterprise solutions: An enterprise solution is any business tool that reliably empowers you to access, share and apply resources with any of your peers and customers, anyw here, at any time.IT infrastructure services: IT Infrastructure Services (IS) Or Infrastructure Management Services (IMS) deliver end? to? end, effective and reliable solutions that transform help to business operations. Services Contribution to Quarter on overall revenue Quarter (%) (%) AMD 43. 1 3. 8 Engg Srvcs 4. 6 4. 6 IMC 11. 4 12. 5 EAS 14. 9 2. 5 Consulting 3 12 Products 2. 7 0. 8 Testing 7. 7 5. 9 BPO 12. 6 1. 3 IMC was the key growth service line, expanding 12. 5% QoQ, followed by Consulting which also grew 12% QoQ. BPO, EAS and Products lagged during the last quarter. Sector Wise Performance (Q2 2012? 3): Verticals Contribution to Quarter on overall revenue Quarter (%) (%) BFSI Mfg Telecom Healthcare Retail Transportation Energy  Media Hi? Tech Others 126. 50 99 42. 8 8. 2 10. 3 5. 2 13. 4 3. 6 3. 6 2. 2 5. 9 4. 9 4. 6 9. 0 5. 1 3. 1 6. 6 2. 2 5. 1 5. 1 3. 3 7. 2 Capital Structure (in crores)  Mar’12 Mar’11  Shareholder’s funds Equity 195. 72 195. 72   Preference 100 100 Reserves 24560. 90 19283. 77 Net worth 24856. 63 19579. 50 Debt funds Secured  93. 47 35. 87 Unsecured  2. 76 5. 25 Total Debt 96. 23 41. 12 Total 24952. 86 19620. 1 Capital *Preference Shares worth 100crs issued to Tata Sons Ltd (the holding company) which would be redeemable at par at the end of six years from the date of allotment ie. March 28, 2008, but may be redeemable any time after 3years from the date of allotment at the option of shareholder. These shares would carry a fixed cumulative dividend of 1% pa and a variable non? cumulative dividend of 1% of the difference between the rate of dividend declared during the year on the equity shares and average rate of dividend declared on the equity shares for three years preceding the issue of redeemable preference shares. BFSI grew 4. % QoQ, despite being affected by the current environment and contributed 87% to the incremental revenues. While telecom too grew at an impressive 5. 1% despite industry trouble, the manufacturing and retail verticals grew the fastest. Geographies Growth (Q2 2012? 2013): Verticals Contribution to QoQ (%) overall revenue (%) North America 52. 8 3. 2 Latin America 3. 4 7. 7 UK 17. 1 5. 2 Europe 9. 5 3. 5 India 7. 5 10. 5 APAC 7. 6 7. 4 MEA 2. 1 4. 6 *APAC – Asia Pacific, *MEA – Middle East and Africa Growth was driven by emerging economies. India (10. 5%) grew the fastest, followed by Latin America and APAC (7. % . 4%) respectively. UK (5. 2%) remained strong, with Europe and North America growing at (3. 5% . 2%). Board of Directors †¢ Executive Board Members Weighted Average Cost of Capital   Rf – Risk Free Rate of Return = 8%, Rm – Market Return (nifty) for 1year = 10. 80% (moneycontrol. com), Beta = 0. 72 (reuters. com) Tax Rate = 2390. 35/13366. 33 (tax expenses/PBT) = 17. 88%  We (proportion of equity) = E/ (E+D) = 24856. 60 / 24952. 85 = 0. 9961  Wd (proportion of debt) = D/ (E+D) = 96. 23 / 24952. 85 = 0. 0039  Kd (cost of debt) = Interest paid / total debt = 16. 0 / 96. 23 = 0. 1704  Tax Shield = 0. 1704 (1? 0. 1788) = 0. 1399  Ke (cost of equity) = Rf + B(Rm? Rf) = 0. 80 + 0. 72 (0. 108? 0. 08) = 0. 10  WACC = (We*Ke) + (Wd*Kd) = (0. 9961*0. 10) + (0. 0039*0. 1399) = 10. 015% N Chandrasekaran – CEO S Mahalingam – CFO †¢ Non? Executive Board Members Ratan Tata – Chairman S Ramadorai – Vice Chairman Cyrus Mistry – Deputy Chairman Suprakash Mukhopadhyay – Company Secretary Compliance Officer R Sommer, I Hussain, V Kelkar, A Mehta, V Thyagarajan, Laura Cha, C M Christensen, P A Vandrevala O P Bhatt – DirectorsCompetitors:  Infosys, Wipro, HCL, Mahindra? Satyam, Tech Mahindra, Patni Computers etc. Financial Summary Profit : Balance Sheet: 2011 Revenue from operations Other Income Total Income Expenses a. Employee benefit expenses b. Operation and other expenses 2012 2012   195. 72 100 24560. 91 24856. 63  96. 23 118. 10 197. 59 154. 78 566. 70  2847. 18 1598. 56 4389. 74 8835. 48 34258. 81    4012. 16 51. 46 1399. 82 5463. 44 5150. 15 139. 74 4332. 81 2636. 88 17723. 02  538. 24 4. 14 1567. 47 9107. 72 3280. 07 1648. 2 389. 43 16535. 79 34258. 81 2011   195. 72 100 19283. 77 19579. 49  36. 33 69. 32 129. 91 76. 17 311. 73  2153. 38 1584. 27 2413. 94 6151. 59 26042. 81    3363. 78 58. 40 1072. 86 4495. 04 5457. 91 52. 03 2864. 09 2603. 26 15472. 33  337. 58 5. 37 836. 37 4806. 67 3120. 52 1369. 05 94. 92 10570. 48 26042. 81 38858. 54 29275. 41 2685. 18 494. 73 41543. 72 29770. 14 14100. 41 10221. 85 13372. 41 10290. 03 c. Finance costs 16. 40 d. Depreciation 688. 17 and Amortisation 20. 01 537. 82 Total Expenses 28177. 39 21069. 1 Profit before Tax Tax expenditure: a. Current tax 13366. 33 8700. 43 2865. 38 1335. 73 30. 32 (235. 61) b. Deferred tax (38. 93) c. MAT credit entitlement Total (436. 10) 2390. 35 1130. 44 Profit after tax 10975. 98 7569. 99 Earnings Per Share 55. 95 38. 61 Liabilities Shareholders’ Funds Equity capital Preference capital Reserves TOTAL Non? current Liabilities  a. Long Term Borrowing b. Deferred tax liabilities (net) c. Other long? term liabilities d. Long term provisions TOTAL Current Liabilities a. Trade payables  b. Other current liabilities c. Short? erm provisions TOTAL SOURCES OF FUNDS  Assets Non? current Assets a. Fixed assets 1. Tangible assets 2. Intangible asset s 3. Capital work? in? progress TOTAL b. Non? current Investments c. Deferred tax assets (net) d. Long term loans e. Other non? current assets TOTAL Current Assets a. Current Investments b. Inventories c. Unbilled Revenue d. Trade receivables e. Cash and bank balances f. Short? term loan g. Other current assets TOTAL APPLICATION OF FUNDS Long? Term Provisions consist of provision for employees include gratuity and other employee benefits. Short?Term Provisions includes provision for employee benefits and for proposed final dividend on equity shares . Current Liabilities includes income received in advance, fair value of foreign exchange forwards and currency options contracts secured against trade receivables . Ratio Analysis with Peer Competition:? FY? 12  27. 52 29. 30 26. 15 55. 31 44. 24 126. 50 In (%)  Gross Profit Margin  Operating Profit Margin Net Profit Margin  Return on Capital Employed Return on Net Worth Return on Total Assets TCS Wipro FY? 11 FY? 12 FY? 11    Profitability Ratios 28. 2 17. 29 19. 62 29. 96 19. 63 21. 90 25. 44 14. 39 17. 96 44. 38 21. 41 22. 34 38. 80 99. 53 19. 23  20. 41 HCL Technologies FY? 12 FY? 11   24. 21 28. 18 25. 66 33. 64 29. 53  19. 13 23. 42 24. 31 21. 20 20. 45 Current Ratio Quick Ratio Debt? Equity Ratio Asset Turnover Ratio Fixed Assets Turnover Ratio Debtors Turnover Ratio 2. 45 2. 43 0. 01 1. 74à ‚ 5. 39 5. 59 Solvency Ratios 2. 41 1. 92 1. 45 2. 40 2. 48 2. 20 0. 01 0. 22 0. 22 Management Efficiency Ratios 4. 91 1. 14 3. 45 4. 91 3. 81 3. 45 7. 19 4. 61 4. 87 1. 38 1. 42 0. 11 1. 26 2. 88 4. 88
In the Light of the Energy Systems Used During Prolonged
Coursework 2 Name: Mohamed Abdulwahab Exercise metabolism Title: In the light of the energy systems used during prolonged endurance events, critically analyse the nutritional strategies that a marathon runner should adopt before and whilst running a marathon in temperate environmental conditions (16-18oC). 1. Introduction: 1. 1 Energy intake: 1. 2 Fluid intake: 1. 3 Carbohydrate intake: 2. Building energy and fluid: 1. Before competition: 2. During competition: 3. Nutritional recommendation: 3. 0 Summary: 4. 0 Reference: 1. 0 Introduction:The term energy system refers to the body’s ability, or power, to do physical work. The energy system requires to do body work that takes several different forms: mechanical, electrical, light, radiant, and heat (Economos, 1993). Energy system is like matter, which can neither be created nor destroyed (Bortz, 1993). It can only be changed into another form; therefore energy is constant cycle in the body and environment (Nelson, 1993). Potenti al energy is stored energy which is ready to be used. Kinetics energy is active energy which can be used to do work (Burke, 1991). Energy balance n a physical activity requires a base of sound nutrition to supply the substrate fuels, which along with oxygen (O2) and water (H2O) meet widely varying levels of energy demand for body action (Gollan, 1991). Fuel sources are the basic energy nutrition in the diet, primarily carbohydrate and some fat (Read, 1991). Their metabolic products-glucose, glycogen, and fatty acids-provide ready fuel sourced for the chemical energy reactions within cells (Murray, 1998). The main energy compound of the body cells is needed during a marathon run is aerobic system (Horswill, 1998).It has rightly a form of energy currency of the cell. A long-term energy system, when exercising more than 2 minutes is required O2 dependant, or aerobic energy system (Pate, 1992). A constant supply of O2 in the blood is necessary for continued exercise (Branch, 1992). Espe cially cells organelles, the mitochondria are located within each cell, produce large amounts of adenosine triphosphate (ATP) (Hargreaves, 1996). The ATP is produced mainly from glucose and fatty acids and supplies the continued energy needs of the body (Dillo, 1996).When the fuel nutrition becomes depleted during exercise, as an energy demands increase the body burns blood glucose and muscle glycogen as well as reserves from fatty acids to provide energy (Angus, 1996). With prolonged exercise levels of these nutrition fail too low to sustain the body continued demands, fatigue followed and exhaustion threatens (Fabbriao, 1996). A marathon runner, energy system is defined as aerobic capacity, which depends on the body’s ability to deliver and the use of O2 in sufficient quantities to meet the demands of increased level of exercise (Coyle, 1986).O2 uptake increases with exercise intensity until either the demand is net or the ability to supply it is exceeded (Hammert, 1986). T he maximum rate that the body can take in O2, or aerobic capacity is called the Vo2max the maximum uptake volume of O2 (Ivy, 1986). This capacity determines the intensity and duration of exercise that an athlete can perform (Coyle, 1986). A long-distance race requires the sustained production of high rates of energy production, with the typical contribution of aerobic energy system varying according to the duration of the race (Costill, 1985).Aerobic metabolism accounts for the greater majority of the energy cost of long-distance events, especially half-marathon and marathon races (William, 1996). The elite level of long-distance running, particularly in males, is dominated by African runners, are outstanding competitor in half-marathon and marathon events (Wilson, 1996). 1. 1 Energy intake: Endurance athletes are involved in events where there is continuous movement for longer than 30 minutes (Burrin, 1996).Some endurance sports combine periods of slow, continuous movement with per iods of fast, quick burst of movement, and other endurance sports require continuous movement overlong-distances or time periods (Tsintzas, 1995). In the types of activity there is a premium on supplying sufficient energy and fluid to assure that the athlete does not become exhausted or over-heated from the continuous energy burn (Williams, 1995). A failure to supply sufficient energy of the right type will lead to early fatigue and poor athletic performance (Williams, 1995).The goal for the endurance athlete is therefore to establish a workable strategy for supplying sufficient energy and fluids (Williams, 1995). Before and during practice and competition to sustain muscular work for a long-duration and at the highest possible intensity (Wilson, 1995). Aerobic metabolism is the energy system of greatest importance for endurance athletes. In this energy pathway oxygen is used to help transfer phosphorus into new ATP molecules (Burrin, 1995). Aerobic metabolism occurs in the mitochon dria of the cells, where the vast majority of all ATP is produced from the entering acetyl-CoA, (Burrin, 1995).Fast can be converted to acetyl-CoA through a process called beta-oxidative metabolism pathway (Burrin, 1995). This pathway is very oxygen dependant which means that fast can only be burned aerobically (Wilson, 1995). The ability of an athlete to achieve a steady state of oxygen uptake into the cells is a function of how well an athlete is aerobically conditioned (Coggan, 1992). An athlete that frequently trains aerobically is likely to reach a steady state faster than one does not train aerobically (Coggan, 1992).In theory once an athlete reaches a level of oxygen uptake that matches oxygen requirement for the given level of exertion (Coggan, 1992). The exercise could go on for as long as the body’s carbohydrate level and fluid did not reach a critical state (Sherman, 1996). For instance a long-distance runner is in a steady state could continue running provided the runner replaced the carbohydrate and fluid that are used in the activity (Sherman, 1995). Therefore, endurance is enhanced with a periodic intake of carbohydrates and fluid during the activity (Swanson, 1992).Athletes with different levels of conditioning are likely to achieve steady state at different levels of exercise intensity (Sherman, 1995). When athletes are being well-conditioned they might be able to maintain a steady state at a high enough level of exercise intensity to easily win a race (Williams, 1995. In other words, they can go really at a fast paced but still provide enough oxygen to your cell to satisfy your aerobic needs (Swanson, 1992). 1. 2 Fluid: As athletes exercise there is an inevitable loss of body water through sweat (Economos, 1993).The cooling system plus the normal urinary water loss may amount cover 10 litres of daily water loss when exercising in a warm environment (Borts, 1993). In a hot or humid environment water losses may exceed three litres per ho ur, but may be less than 0. 5 litres per hour cool dry environment (Nelson, 1993). Despite the high rates of sweat losses experienced by athletes, most athletes replace on fifty percent of the water that is lost, a behaviour that inevitably leads to progressive dehydration and a decline in performance (Nelson, 1993).Researches have clearly demonstrated that even a slight dehydration of two percent of body weight causes a measureable decrease in athletic performance (Borts, 1993). Therefore, when athletes take steps to satisfy fluid requirements, they are helping to guarantee optimal athletic performance (Economos, 1993). 1. 3 Carbohydrate: Athletes require carbohydrate during both low and high intensity activities (Burke, 1991). When carbohydrate stores are depleted the athlete quickly becomes fatigued and performance drops dramatically (Gollan, 1991).However, since the storage level of carbohydrate is relatively low gen compared fat stores; athletes must make a conscious effort to replace carbohydrate at every opportunity (Read, 1991). When having high levels of stored carbohydrate (glycogen) and consuming carbohydrates during exercise that last up to an hour or more are well-established techniques for optimizing athletic endurance (Murray, 1998). Consuming carbohydrate during exercise helps to maintain blood sugar (glucose) and insulin, which encourages sugar uptake by working muscles (Horswill, 1998).This helps to increase the muscular metabolism of carbohydrates and also helps to assure that carbohydrates are not depleted during exercise (Horswill, 1998). The concentration of carbohydrate consumed early during endurance running may influence the degree to which the athlete gets gastrointestinal (GI), discomfort (Murray, 1998). It was found that a 5. 5 percent (13 gram of carbohydrate per 8 ounces of fluid), carbohydrate solution produced the same level (relative low) of GI distress as plain water (Pate, 1992). A 6. percent (18 gram of carbohydrate per 8 ou nces of fluid), solution, on the other hand, doubled the incident of distress when athletes were asked to perform the same exercise (Branch, 1992). In addition, only the 5. 5 percent carbohydrate solution imparted a significant improvement in performance (Branch, 1992). In a study of marathon running performance, that are running over 26 miles, were asked to consume either water, a 5. 5 percent carbohydrate solution or a 6. 9 percent carbohydrate solution on three occasions (Pate, 1992).The fastest times were recorded when they consumed the 5. 5percent carbohydrate solution, while consuming the 6. 9 percent solution resulted in times that were similar to consuming plain water (Hargreaves, 1996). Although, athletes have a tremendous need for carbohydrate, trying to provide too much too fast causes difficulties and may detract from performance (Dillo, 1996). Therefore, it appears clear that having a carbohydrate containing beverages during exercise is a very good thing to do (Angus, 1 996).Resynthesis of glycogen following activity is also important, since glycogen reserves are severely depleted following activity lasting an hour or longer (Fabbrioa, 1996). The efficiency of glycogen resynthesis is dependent on several factors, including: (1) the timing of carbohydrate intake, (2) the amount of carbohydrate consumed, (3) the type of carbohydrate consumed, and (4), the degree to which muscles has been damaged during the exercise (Fabbrioa, 1996). 2. 0 Building energy and fluid: The importance of building and maintaining energy reserves to support endurance exercise is well-established (Angus, 1996).It is very clear that endurance athlete who begins competing with more stored carbohydrates have more available at the end of the competition (Coyle, 1996). This difference alone may be enough to determine the winner. In addition, athletes who are better hydrates during competition perform better than those who are less well-hydrated (Coyle, 1996). Having optimal carboh ydrates and fluid intake does not happen automatically. It is something that must occur with foresight and planning (Angus, 1996). 2. 1 Before competition: When consuming carbohydrates prior to exercise, there is improved performance.The general recommendation is for athletes to consume between 800 to 1200 calories during the hours that precede competition (Costill, 1985). Foods consumed prior to competition should be foods that have been consumed without difficult prior to training (Costill, 1985). Trying to improve carbohydrate status before a competition by trying out new foods, like gels or sports drinks is an almost guaranteed formula for competitive disaster (Costill, 1985). Consumption of fluids prior to competition is also important and since glycogen storage requires additional fluids carbohydrate consumption should lways take place with substantial fluid intake (William, 1996). Since it is common for athletes to drink only when thirsty a conscious effort should be make to consume fluids even when not thirsty (William, 1996). Getting and staying well-hydrated may be the single most important thing athlete can do to assure good athletic performance (Wilson, 1996). Since it is almost impossible to adequately replace all fluids lost during training or competition it is useful for athletes to enter the exercise in a well-hydrated state (Burrin, 1996).It is impossible to become well-hydrated during exercise if athlete enters the exercise poorly hydrated to begin with (Burrin, 1996). Assuming that ample fluids have been consumed during the day leading up to the re-competition or practice athletes should consume an additional 10 to 13 gram of fluid approximately two hours before the exercise begins (Wilson, 1996). After this fluids should be consumed every 15 to 30 minutes to maintain prior to exercise (William, 1996). The athlete will know if you’ve adequately hydrated yourself by checking on the colour of the athlete urine (Tsintzas, 1995).Dark urin e suggests that athlete is not well-hydrated, while clear urine suggests that athlete is well-hydrated (Stanzas, 1995). Using sports beverages (lucazad) prior to exercise is useful because they provide the two things athletes need the most: carbohydrates and fluids (William, 1995). Since carbohydrate is typically the limiting energy substance (that will run out before fat or protein runs out) in exercise (William, 1995). When starting exercise with more of it is in the tissues should aid exercise endurance (William, 1995).In low-intensity but long-duration exercise, fat may be the primarily fuel, but fat requires carbohydrates to burn completely (Singh, 1995). In either case, when carbohydrates (glycogen stores and blood glucose) are depleted, exercise performance is dramatically reduced (Wilson, 1995). This basis behind carbohydrate loading is to put as much carbohydrate in the tissue as they can hold (Wilson, 1995). 2. During competition: A marathon race where fluid are available at regular intervals, the athlete should take full advantage of each fluid station and consume fluid (Burrin, 1995).Since water is constantly being lost, frequent and regular consumption of fluid helps to maintain the body water level (Burrin, 1995). To understand how much fluid an athlete needs to consume during practice or competition, a log should be maintained with the amount of fluid consumed and the beginning and ending weight of the athletes (Sherman, 1995). If an athlete consumes 26 gram during practice and weighs 26 gram less at the end of practice than at the beginning this athletes should learn to consume an additional 26 gram of fluid during practice or competition (Sherman, 1995).Consumption of fluids that contain carbohydrates is important during exercise or competition and properly designed sport beverages can benefit in providing both fluid and carbohydrates quickly (Coggan, 1992). Carbohydrate solution of between 5 and 6 percent delivers both the carbohydrate and th e fluid quickly (Swanson, 1992). A higher carbohydrate concentration slows delivery to the muscles by delaying gastric emptying and may increase the risk of gut upset (Swanson, 1992). A small amount of sodium helps drive the desire to drink and in so doing helps to assure that the athlete stays better hydrated (Coggan, 1992).Sodium may also benefit in getting the water and carbohydrate absorbed more quickly as well as helps to maintain blood volume (Economos, 1993). Maintaining of blood volume is an important predictor of athletic performance (Economos, 1993). There is some evidence that hyponatremia (low level of blood sodium), which results from large losses of sodium in sweat that goes unreplaced, occurs endurance and ultra-endurance events (Borts, 1993). This is a rare but a serious condition that may result in comas, or death (Nelson, 1993). The beverage should be taste good to the athlete.The taste sensation may be altered during exercise so there is no guarantee that a fluid, athlete enjoys drinking while exercising. Make sure that an athlete tries different flavours during exercise to determine what is best liked. The carbohydrate should be from a combination of glucose and sucrose. Beverages containing predominantly fructose increase the risk of creating gut upset. 2. 3 Nutritional recommendation: There are several rules of nutrition that apply here. Among them is the idea of the need to consume a wide range of variety of foods to assure that the body is exposed to all of the essential nutrients (Burke, 1991).On the backside of this rule, there is another benefit. By consuming a wide range of variety of foods, athletes can avoid being exposed to any potentially toxic substances that are more prevalent in some foods (Gollan, 1991). Therefore, eating a wide range of variety of foods is a good nutritional rule to live by (Read, 1991). Another rule is the idea that it is possible to eat too much of something, even if athletes think it’s good for th em (Read, 1991). Learning to balance the diet through variety will help ensure the body of both proper maintenance and adequate nutrient intake (Gollan, 1991). 3. Summary: In general, athletes with long training schedules should focus on the consumption of diets that are high in carbohydrate and should develop a drinking habit that frequently delivers fluids to the body. While fats, constitute a major proportion of burned energy for endurance (aerobic) activities the storage capacity for fat is relatively high for even the leanest athletes. The storage capacity for carbohydrate, however, is limited. Since fats require some carbohydrate to be completely burned, the limited storage capacity for carbohydrate cam limit the body ability to burn fat during exercise.To overcome this limitation athlete should be constantly vigilant to keep body stored of carbohydrate at maximal levels before activity begins and should replace carbohydrate during activity throughout whatever means are availa ble. A failure to supply suffienct carbohydrate before and during endurance activity will significantly reduce athletic performance. 4. 0 Reference: †¢ Economos, D. , Borts, Z. , and Nelson, R. 1993. Nutritional practices of elite athletes. Sports. Med. 16:383. †¢ Burke, L. , Gollan, R. , and Read, R. 1991. Dietary intake and food use of groups of elite Australian male athletes. Int. J. Sports Nutr. 1:378. †¢ Murray, R. and Horswill, A. , 1998. Nutrition requirements for competitive sports. In nutrition in exercise and sport, 3ed. 521-558. †¢ Pate, R. , and Branch, D. 1992. Training for endurance sport. Med. Sci. Sports Exer. 24:S340. †¢ Hargreaves, M. , Dillo, P. , Angus, D. , and Fabbraio, M. 1996. Effect of fluid ingestion on muscle metabolism during pro-longed exercise. J. Appl. Physiol. 80:363-6. †¢ Coyle, E. , Coggan, A. , Hammert, M. , and Ivy, L. 1986. Muscle glycogen utilization during pro-longed strenuous exercise when fed carbohydrate. J. App l. Physiol. 61:165-172. †¢ Costill, D. 1985. Carbohydrate nutrition before, during, and after exercise.Fed. Proc. 44:364. †¢ William, C. , Wilson, W. , and Burrin, J. 1996. Influence of carbohydrate supplementation early in exercise on endurance running capacity. Med. Sci. Sports Exerc. 28:1373-1379. †¢ Tsintzas, O. , Williams, C. , Singh, R. , Wilson, W. , and Burrin, J. 1995. Influence of carbohydrate-electrolyte drink on marathon running performance. Eur. J. Appl. Physiol. 70: 154-6. †¢ Sherman, M. 1995. Metabolism of sugars and physical performance. Am. J. Clin. Nutr. 62:228S. †¢ Coggan, A. , and Swanson, S. , 1992. Nutritional manipulations before and during endurance exercise: effects on performance. Med. Sci. Sports Exerc. 24:S331.
Tuesday, July 30, 2019
‘Looking for Alaska’ by John Green Essay
‘Looking for Alaska’, John Green’s Debut novel was published in 2005.The novel is about a group of lost, but additionally very intelligent teenagers, who attend Culver Creek Boarding School for their first junior year. They are on the contrary to shallow, more or less precise opposite; Alaska Young, Miles Halter and Chip Martin’s thought are as deep as the Mariana trench. Their complicated way of looking at life, thirst for an adventure, seeking simplicity and comprehension in an intricate world will eventually end up hurting them. â€Å"If people were rain, I was drizzle and she was a hurricane†was Miles imagery of Alaska after her tragic death. Even though the novel is written via Miles perspective the entire structure of the story revolves around Alaska’s death. This is from one hundred and thirty six days before, where we see Miles as a dull, anti-social geek; to one hundred and thirty six days after where we see Miles as ‘Pudgeâ₠¬â„¢, a well developed man with friends, who smoked cigarettes and drank wine. Even before the actual death occurs, death is a recurring theme, from Alaska’s mother’s death to Miles trying to find out what happens to oneself upon dying. Miles is obsessed with peoples last words; dying words. The very actual thought of last words completely fascinates him. Alaska is a character in this book who is completely associated with death. It has played an important role in her life and will play an important role in the lives of the characters lives after her life is brought to an abrupt end. It makes the characters rediscover so much more about about themselves. We become acquainted with the characters through their actions and conversations. Alaska Young behaves in a most reckless manner.is such an interesting, beautiful, enigmatic individual, nevertheless so self-destructive. Just two days before she is gone forever, the boys learn that they hardly knew the girl they love so fervently (during ‘Barn Night’). January 9th, 1997 was the turning point in Alaska’s life. She was barley eight years old but witnessed her mother’s death, sitting by her side and watching the life draining out of her. Alaska never called the ambulance or made an attempt to save her mother. This had ruined her. Eight year old Alaska drowned he rself in guilt. Her extreme unpredictalbililty and spontaneity was most likely an effect of ‘ failing her mother’. She had her moment and didn’t take it. This effected the way she handled spontaneous situations in the future. Alaska would never think twice about her actions or reflect the possible consequences. This eventually gets her killed. In the final religion exam, the students have to pick what they think is the most important question human beings must answer, and examine how Buddhism, Islam and Christianity (three world religions) attempt to answer it. Miles chooses to examine the question ‘What will happen to us when we die?’. Miles will never find the answer until he experiences it, but chooses to settle with a fact from science class; energy is never created and never destroyed. In religion the soul flies to heaven and peoples beliefs give them answers to everything. Alaska on the other hand isn’t a believer; the question related to her mother’s death drives her crazy. Among a variety of metaphors, the imagery of the labyrinth is a main throughout the novel. â€Å"How will I ever get out of t he labyrinth of suffering?†. Alaska dwindles into the boundless depths of this question. Is the labyrinth living or dying-the world on the end of it? The labyrinth answers the endless anwerless questions life brings. In this novel, Alaska is the labyrinth; she traps herself in an evil circle of answerless questions that force her deeper into the depths of sufferings. She cannot free herself from herself. The novel’s message is philosophical. it is about looking past a list of answerless questions in life, and not fold yourself into self-destruct. If Alaska killed herself, it was out of hopelessness. People kill themselves because it seems the only way out of the labyrinth of suffering; the flame of hope they carry is extinguished. But it never is as Green concludes. Alaska Young was to deep in the enigma of frustration over her answerless questions and guilt. There are many instances where Miles tries to figure out how Alaska’s death occurred, why it happened, what really are about, and Alaska Young’s last words. Death plays an important part in life, although many people fail to see it. It is a subject most people avoid talking about, as the thought itself scares them, but it is important to face death and be aware that it can touch anyone in anyway close to you. The book uses death as an aspect to show the readers that death is something inevitable, but we can never become ready for it.
Monday, July 29, 2019
Presentation on an entrepreneur - John P Morgan Speech or
On an entrepreneur - John P Morgan - Speech or Presentation Example He was schooled in both Switzerland and Germany. He excelled in mathematics. When he was sixteen he joined a branch of the bank in London and brought it to greater success. As time went on he continued to meet with unending business and financing success. He financed the United States railroad, which would change the country forever. He established U.S. Steel and General Electric, not to mention numbers of other lucrative ventures. He was an avid art collector and philanthropist. In fact, he once gave $550,000 a month to the U.S. to pay its Civil War Military, he also, helped, decades later in avoiding a serious economic crash in 1907 (Crovitz 1). On more than one occasion he used his money and influence to make things happen that the government just did not or could not. They resented him for his interference, making them look bad, and believed his actions were no more than a display of power (Bowen). Towards the latter part of his life Morgan gained a great deal of stock in the RMS Titanic. In fact he was expected to join its maiden voyage; there was even a customized quarters designed just for him. The room even included the specially designed holders for his cigars in the bathtub. However, Morgan changed his mind and did not board the Titanic. Had he boarded that ship he might have only lived another few days (Daugherty 4). Today when you hear the name J.P. Morgan most people assume you re referring to the banking institution not the man. But the man behind the name was a quite the person. History will remark him as one of the greatest, wealthiest, and most influential men of his time, like his peers Andrew Carnegie, Jay Gould, and John D, Rockefeller (O'Kelley 1011). These men lived in a time when they had the freedom to throw their money, influence, and power as they saw fit. Although J.P. Morgan made a clear effort to give of his wealth and expertise, in the modern world today we would fear anyone having the genuine power and control that these men had t hen. However, if they had not lived and taken it upon themselves to build the United States as they did, regardless of the reasons, it might not be the country we have today. We owe a great deal to all of the visionaries that came before us. Name: Date: Audience take away: A greater understanding go f the life and times of Gilded Age tycoon J.P. Morgan. Title: One of the Greatest Tycoons of the Gilded Age 3 Key ideas: 1. Biographical history of JP Morgan’s early childhood and young adulthood. 2. Discuss his accomplishments in business 3. Reiteration of accomplishments and legacy. 3 Key questions: 1. Did J.P. Morgan’s childhood influence him in adulthood? Answer: Yes he was born and bred to be a banker. He was born into affluence and worked very hard throughout his life to make certain he stayed that way. 2. Why was J.P. Morgan so disliked within political circles? Answer: He was disliked in political circles because he often used his money and influence to step in when the government was struggling; which gave him great advantage, but, also, made the government look bad (Bowen). 3. What was his part in the 1907 economic scare? Answer: He, essentially, saved the U.S. economy by providing funds and resources to maintain the government and avoid a serious depression. (Bowen) 3 Stories: Story 1 In 1907 J.P. Morgan took it upon himself to find a solution to the credit crisis, a crisis not unlike the one we began in 2008. Morgan’
Sunday, July 28, 2019
Wells Fargo Organization Audit Essay Example | Topics and Well Written Essays - 3000 words
Wells Fargo Organization Audit - Essay Example Center of discussion in this paper is Wells Fargo Company, a wide-reaching and diversified company that focuses on a society financial aid, compromising of almost $ 1.3 trillion assessed assets. The company enriches the society with proper banking systems, insurance services, investment ideas, mortgage aide to the society, as well as, commercial business centers that is approximately 9 thousand business stores. The company’s values, visualization, as well as, its mission have supported the company during the irregular financial periods, especially during the immense melancholy along with present financial downturn. The organization has a proven past of success, as well as, techniques on handling the hard times. Transformation management along with the capability to adapt to fresh environment is a fundamental choice for the organization in a period of time. The economic transformation methods have articulated quick transformations to the channels that organizations carryout the ir business in an economic industry that has a great impact on the multibillion dollar economic organizations. The organization has the responsibility of ensuring that its utmost organization management articulates a proper attention to the external environment that consists of the governmental, as well as legal transformations to the organizational level. Wells Fargo was started in the year 1852, and was initially located in San Francisco at the period of the gold rush. The vital intention of the stagecoach was to transfer gold along with other vital valuables (Abbott, Parker & Peters, 2004). II) General Statement of Results Computation of productivity Measures A. Benefits B. Total Benefits by Type for 2010–2011 C. Percentage of Total Benefits* D. Total Return on Investment E. Distribution of Return on Investment by Benefit Type Cost Operational and Run Savings $43,718,600 43% $28,825,667 $12,395,037 Revenue Collection Increases $58,358,800 57% $28,825,667 $16,430,630 Total Benefits Flow (before expenses) $102,077,400 100%   Total Return on Investment (Net Present Value)**    $28,825,667 The exact personnel cost per employee against the precise productive hours per employee is what brings cost operation, while the exact personnel costs per employee against the sum of the productive hours results to total benefits flow. Lastly, the sum of personnel costs per employee against the sum of the productive hours is equal to total return on investment. Conceptually, Wells Fargo company has faired well in formulating a sense of effectiveness whenever administering the productivity of the company. Although not all the available eight fundamental factors may be functioning properly, there was not much found in the period of the audit that cannot be transformed into the best of the company. The company’s system management approach promotes the importance of educating managers so as, to understand the company’s overall system, with this they realize how certain actions affect the department with other units, and it recognizes both open as well as, closed systems. The closed system entertains self-contained and not concerned with outside influences the supportive subsystems work on acquisitions as well as functions within the company, where the acquisition involves; securing resources, this type of subsystems includes sales as well as marketing divisions, public relations units. III) Analysis of the organization productivity audit a) Policy The company has a productivity evaluation mission statement that is provided to all the available employees and is provided with first priority towards proper management in the company. The organization managers are supposed to provide productivity plans and missions that are associated with the company’
Saturday, July 27, 2019
Wall Street Journal Research Paper Example | Topics and Well Written Essays - 500 words
Wall Street Journal - Research Paper Example These bases are First-in, first-out (FIFO) and Last-in, first-out (LIFO). Kohl’s Corporation Department Store earnings fell by 17%. Its operator’s margin was hurt by markdowns to clear out inventory. Their rival’s dismal performance was projected to fair well for them but unfortunately, this was not the case. Kohl’s Corp. fell short to capitalize on it and to some extent, it contributed in its poor performance. Chief Executive, Kevin Mansell, confessed that growth was not at the rate they had planned. They did not serve their customers at the standard they had set for themselves. Kohl’s Corp. has about 1,146 stores in 49 states, their main competitors being Macys Inc. and J.C. Penney (Talley & Tess). First-in, first-out (FIFO) is the most common inventory accounting method which assumes that the oldest inventory is used first. This method reflects how transactions actually occur. Accounting rules do not necessitate the inventory accounting method used by the company to be the same as the physical movement of goods but for companies selling via inventory supplies frequently, complexity in record-keeping is significantly reduced due to the matching movement of goods to the accounting method used. During periods when prices are rising, inventory cost is higher as compared with companies using LIFO method (Tracy 12). Last-in, first-out (LIFO) is another method of accounting for inventories. LIFO method assumes that the most recently purchased inventory is used first, which rarely matches the physical movement of inventories. Generally, when prices go up over time during the accounting period, the most expensive items in inventory are sold, reducing the net income, thus a lower tax liability becomes the end result. Companies which opt for LIFO valuation should be conscious of layering effect which can cause high tax liabilities which are not expected during high
Friday, July 26, 2019
Supply Chain Management case study Example | Topics and Well Written Essays - 500 words
Supply Chain Management - Case Study Example Another supplier evaluation research is carried out on the potential suppliers to ensure nothing has been overlooked before making a final decision. Selection of the supplier, negotiations and sending out the RFPs is done at this stage. Selecting the best source and integrating any conflicts in order to ensure the contract will be workable and finally is the monitoring of the supplier through the FedEx Supplier Scorecard system. The supply chain management comprises of a team of individuals assigned different roles and different suppliers to handle. Only one individual associate from the group is assigned to every supplier. The work of the associates is to take responsibility and oversee all the ground work necessary including being in charge of the research and profiling. They are also tasked with the responsibility to manage and nurture the relationship with the suppliers as well as ensuring that the needs of FedEx are well taken care of by the suppliers. They also keep close tabs with the happenings in the market and the other suppliers as well and any changes initiate their renegotiation with their current suppliers. This is carried out to prevent them from being short changed or losing out on new innovations and deals that will make them lose out the competitive advantage they currently hold in the industry. They also handle the decisions revolving around strategic management which means they coordinate the supplier and engineering groups as well as dealing with any challenges brought about by the sourcing process. Yes. The first step of the process that includes research and profiling is carried out by almost all the companies before selecting the best suppliers in the market. This is important for all the companies to doing order to eliminate frauds in the market, ensure they get a good bargain and deal for their money as well as being provided with only the best as long as they can
Thursday, July 25, 2019
Quality Function Deployment of Dell Company Coursework
Quality Function Deployment of Dell Company - Coursework Example The E-Business unit is in charge of running the company’s website, which is the primary source of order information. The Manufacturing department is also integrated into the production system and takes orders from clients through the primary website. Also, Suppliers have a strong partnership with Dell and this enables them to keep various stock levels of Dell products at different time intervals. There is the Customer Service unit that is outsourced and tries to ensure that customer satisfaction is at its maximum(Spulber, 2007). In the UK, like other parts of the world, Dell operates through online sales. Normally, Dell takes orders from its websites. Through these sites, Dell customers give them specifications of what kind of computer they actually want. For orders that are already in stock, the nearest available supplier ships it to the customer and it should arrive in less than 2 weeks. For customized orders that are not already in stock, the details are sent to the nearest manufacturing department, which assembles it and ships it directly to the client in about two weeks. When the customer receives an order, and s/he has some issues with it, the next point of call is to get in touch with the customer care department and present a complaint. This complaint is transferred to the technical and after-sales unit which gets in touch with the customer either directly or through the customer care and makes the necessary move to rectify the problem(Khosrow-Pour, 2004). This process is illustrated in the diagram below: The main competitors of Dell UK are HP and Acer. These two companies also provide similar products and specialize in the same activities that Dell handles. Although this is done with some differences, they are neck-to-neck with Dell in terms of market share and service delivery.Â
Questions on Foundations of normal labour Essay
Questions on Foundations of normal labour - Essay Example First stage of labour begins with uterine contractions that are regular and ends with complete dilatation of the cervix, i.e. 10 cm. This stage may be divided into early latent phase, an active phase and a transitional phase. During the latent phase, the uterine contractions are irregular and mild. The cervix begins to shorten and soften. The cervix is dilated 1-4cm. Contractions of the uterus may or may not be regular and may be associated with backache, abdominal cramps, show, rupture of membranes, mucoid vaginal discharge and passage of the mucus plug. Active phase begins when the cervix is 3-4 cm dilated. The dilatation rapidly increases and presenting fetal part descends. The uterine contractions are much stronger and last for longer period, approximately 40-45 seconds. They are also more frequent. Contractions may be accompanied by pain in this stage. The cervix is dilated upto 8cm. This phase is followed by the transitional stage. Cervix dilatation is 8-10cm. The contractions of the uterus are stronger and of longer duration, 50-60seconds. Other symptoms in this stage are discomfort, hiccups, irritable abdomen, behavioural changes, restlessness, nausea and vomiting, increased perspiration, heavy show that is profusely dark, rupture of membranes, low back ache and sensation of stretching in deep pelvis. The first stage of labour ends when the cervix is dilated at 10 cm. ... At term, cortisol production of fetus increases. This causes increase in the production of estrone and estradiol and decreased production of progesterone from placenta. This amounts to increase in uterine activity because, basically, while progesterone suppresses the activity of the uterus, estradiol increases it. Increased production of prostaglandins occurs which contribute to increased activity of the myometrium. All these changes amount to release of oxytocin and other hormones like CRH, activin A, follistatin, relaxin and hCG, which further increase myometrial activity (Fraser and Cooper, 2006). Towards term, softening of cervix occurs due to decrease in collagen and increase in proteolytic enzymes. This partly occurs due to increased production of hyaluronc acid which decreases the affinity between collagen and fibronectin. Due to affinity of hyaluronic acid towards water, the cervix gradually softens and ripens. Even cervix contracts from the point of dilatation of 3-4 cm. How ever, in the active phase of labour, dilatation of cervix mainly occurs due to passive stretching of contractions of the uterus (Fraser and Cooper, 2006). The uterine pressures in first stage of labour rise to 20-30mmHg during contraction. The contractions occur every 10-15 minutes and lasts for 30-40 seconds. The intensity of contractions increases to a maximum of 50mmHg. Pain develops when the amniotic pressures increase beyond 25mmHg. Uterine contractions cause dilatation and effacement of the cervix due to shortening of the fibers of the myometrium in the upper segment of the uterus. This is called retraction. The lower segment of the uterus
Wednesday, July 24, 2019
Aboriginal culture Essay Example | Topics and Well Written Essays - 1250 words
Aboriginal culture - Essay Example Western science and Aboriginal knowledge are complementary and both provide insight into our world and environment. Just as western science seeks to provide answers to questions pertaining to our past, present and future, so too does Aboriginal knowledge (Dreaming) and one cannot be dismissed in favour of the other, instead the two should interact and work together. The English term Dreaming is more an analogy than a translation of Aboriginal spirituality. b. It is wrong to consider Aboriginal societies as being primitive to western societies in the misbelief that they had no religion, philosophy or political systems prior to colonization; all three are integral to Aboriginal existence. Religion, philosophy and laws (political systems) are components of every aspect of life and underpin all behaviours, interpretations and expressions both within ceremonial life and daily life. The principles and codes of behaviour (laws) relate to all things on earth not only humans, are complex and live and breathe in the people and their environment. Aboriginal religion, philosophy and political systems were known and past down from their ancestors and are lived and maintained in their practice. c. It is inaccurate to classify Aboriginal societies as nomadic; they were semi-nomadic which meant they did not stay in one place until the food supply was exhausted as is the nomadic norm, but instead they moved from one place to another and back as food supplies became available. Rather than use the land, they belonged to the land, only took what they needed, and moved to allow the plants to re-grow and the animals to regenerate; in other words their occupation of land was seasonal, their movement was cyclical and they and the land were inseparable. d. To assume that Aboriginal societies did not create technologies is wrong because they have developed technologies to make their lives better, just as western societies have done. As hunters and gatherers, Aboriginal societies develop ed weapons, tools and other kinds of equipment from a diverse range of materials obtained from the land; these tools and weapons were developed for specific uses and tasks in different situations and so had a functional use. Their technologies were founded on their complex knowledge system that included an understanding of aerodynamics, physics, chemistry and biology, as well as ecology. e. Aboriginal laws were not written because it was not necessary to do so; instead they were passed down by their ancestors through stories, song and ceremony. Aboriginal law rises above all things and directs them through life; it is who they are and it is integral to every aspect of their lives. The law is all around them – everywhere – and is in everything they do; they eat, sleep and breathe it; they sing it and live it. Unlike our laws they do not require a written form and are not a set of rules that can be broken; instead Aboriginal law lives within their very substance. Questio n 2 Living – their very existence - for Aboriginal Australian people includes art, ceremony, stories and songs dating back for thousands of generations. According to Sutton (1988), Aboriginal art, music, dance and ceremony are demonstrations of the Dreaming that relate to the extensive symbolism of beliefs and daily life that make up a complicated and multifaceted ‘code of interaction’ (p.14). Just as the Dreaming is essential to the discernment of Aboriginal art, stories, song and ceremony, they in turn are a means of right of entry to the Dreaming (Morphy, 1998) that constantly reflects and modifies a person’s beliefs, values, ideas and sociality. Throughout history man has been intent on preparing children to become responsible and useful adults within
Tuesday, July 23, 2019
Mayan Family Structure Essay Example | Topics and Well Written Essays - 1000 words
Mayan Family Structure - Essay Example The Mayan dialect comprises 69 languages within five sub-families of Ch'ol-Tzotzil, Huastecan, Yucatecan, Chujean-Kanjobal, and Quichean-Memean sects. At the height of their prosperity they lived in cities that actually used to be religious centers and open country-sides. Their administrative system was effective and resourceful although their social and religious practices were sometimes brutal. (Mayan Family) The Mayan community is spread far and wide in pockets of different countries like Mexico, Yucatan, Campeche, Quintana Roo, Tabasco, Chiapas, Gautemala, Belize, Honduras, and El Salvador. However, they are distinct from each other in their unique way they dress and communicate. The Mayan language is spoken as the first language in some communities whereas Spanish is the first language with others. The Mayan family structure today is just about like any other regular family structure in the world. They work, play, study, live together and plan their lives as a family unit and for their descendants. They live in their own countries and proudly hold on to their native tongue although a lot of them also speak Spanish, the language commonly spoke in majority of the people in the region. However, as a community, they are backward and still need help to improve their lot in education and business. They have a rich culture and tradition to speak of. They have wonderful history and heritage to share with people from all over the globe. They have rich natural sources and abilities to compare and compete with the best in the world, and brilliant ideas and hopes to join the rest of the human community in the race for better standards of living for themselves and others. (History of the Mayan Agency) Family Structure of the ancient times Specific information about the family structure as a unit is not forthcoming probably because the Mayan language family itself is divided into five sub-families. These sub-families are dispersed in different countries in South America, viz. Gautemala, Belize, Honduras, El Salvador and South Mexico. The largest populations are found in Mexico in the states of Yucatan, Campeche, Quintana Roo, Tabasco and Chiapas. The culture and social life of the Mayan harks back to ancient times as far back as 1500 BC. It was a prosperous and militant civilization that observed religious rituals on barbaric lines and depended on thriving economy. There was a big gap in the way of living between the ruling class and the common man. The king, his family, courtiers, priests, palace guard and servants enjoyed a better standard of living in comparison to the society at large. The Mayans practiced caste system rigidly. There was no way anyone could move over from a lower caste to upper caste or from one caste to another. The caste system much like other social and economic practices was inherited and passed on to the next generation without question. Nonetheless, the higher castes enjoyed the privilege of moving down the ladder. No one stopped the royal class from mixing with their less privileged citizens if it suited their position or tastes. There is nothing to show that such alliances were consigned to the flames or death squad. Also besides sacrificial
Monday, July 22, 2019
HCS 483 Clinician Provider Order Entry Implementation Essay Example for Free
HCS 483 Clinician Provider Order Entry Implementation Essay Clinician Provider Order Entry Implementation Health Care Information Systems HCS 483 September 02, 2013 Clinician Provider Order Entry Implementation Implementation Process Health care organizations look forward when starting the implementation process for information system implementation. Adding or upgrading health care systems is met with excitement and opposition from the employees who must use the system and adapt their current practice processes. Constructing a rollout period for the employees to train and get specific training for their job requirements is imperative to the success of the health system implementation. Employees knowledge of how to use the system is equally important to the implementation process as choosing and designing the program that is best for the organization. Roles and responsibilities The project or system champion is someone in the organization who is vested in the completion of the project. The champion’s role is to help obtain the buy-in of other physicians into the use of the new system and makes sure the physicians who will be using the system have adequate input in the selection process of how the new system will be used. The board of directors is the governing entity for the health care organization that approves the acquisition and implementation of a new system. The board of director’s role is to have a voice for the organization. Going forward the board needs to be involved in how the new system will affect the processes of the primary users and help curtail the expenses that develop as the project evolves. The Project manager is the person accountable for the successful implementation of the new information system. â€Å"He or she is the person who provides the day-to-day direction setting, conflict resolution, and communication needed by the project team†(Wager, Lee, Glaser, Burns, 2009, Chapter 7). The project manager is responsible for the team of engineers installing and testing the information system. The project manager is responsible for relaying the progress of the project back to the board of directors. This includes the good, and the bad as outlined in the case study of Memorial Health System in which Dr. Melvin Sparks yelled at Sally Martin over substantial increases in work force, cost, and time increases. Sally Martin resolved not to share any bad news or setbacks with Dr. Sparks again creating a false sense of understanding of where the project was in the stages of completion. The original action of Dr. Sparks started a domino effect toward the failure of the project. Fundamental Activities Information Technology (IT) is responsible for the long and tedious process of installing, changing, removing, testing, and correcting the chosen information system for the health care organization. IT must have a strong plan in place for the scope of the projected project. Organizing, identifying the project champion, determining the project’s size and expectations, and establishing and implementing the project plan are the steps in the IT implementation process. Creating detailed project guidelines for cost, number of employees needed to complete the implementation and project completion dates of the different phases to help complete the goals set forth by the health care organization. Fundamental activities that led to the project failure were lack of organization, system analysis, and employee workflow. The project was set to a rushed timeline that did not permit for proper organization for the intricate details of implementing a new information system. Doing the system analysis in six months and making a choice without direct input from the employees who would be using the system on a daily basis was part of the project failure. Employee workflow is a vital portion of the selection process of a new system in a health care organization. â€Å"One of the first activities necessary in implementing any new system is to review and evaluate the existing workflow or business processes†(Wager, Lee, Glaser, Burns, 2009, Chapter 7). If the process is too complicated or cumbersome, the workforce will fight back and reject the new system. In the case study of Memorial Health System although intentions were good for the implementation of a clinician provider order entry (CPOE) system by Fred Dryer and Joe Roberts the process was rushed and not properly laid out with realistic goals in place. IT was not given adequate time to organize, plan, or determine the scope for the steps they would need to make to implement the new CPOE. Commun ication Dr. Melvin Sparks was a fundamental player in the project failure at Memorial Health System. Probably without direct knowledge of his actions, Dr. Sparks started a domino effect that ultimately led to many of the project failures with implementing the CPOE system. The initial communication between Dr. Sparks and his appointed project manager, Sally Martin, set the communication barrier of relaying time delays, lack of workforce, and budget increases that snowballed into the failure of the CPOE implementation. Project Failure Project failure in the Memorial Health System case study was evident from the beginning of the project. The idea was solid, but the planning was not thorough. Five indicators that the project would fail are lack of clarity of purpose that happens when the objectives of the project are unclear. Lack of belief in the project happens when the key users are not convinced the system will ease their workload. Insufficient leadership support happens when the lack of commitment shows through the lack of involvement by the leaders spearheading the implementation process. Organizational inertia happens when project work is added on top of the daily workload adding stress to the employees. Project complexity is multifold and is a direct effect of when the people working on the project do not have an understanding of the scope of the project. Minimize Project Failure Memorial Health Systems could have taken different steps to eliminate or minimize the effects of the project failure on the new CPOE system. This Student would have acted differently to minimize the effects for a different outcome on the implementation process for the new CPOE system. Lack of clarity of purpose This student would have communicated that the implementation of the new system will make the daily process of patient care is necessary so the providers and supporting staff understand that it will prepare for a better patient health record and reduce errors in orders. Lack of belief in the project This student would have communicated an understanding that the new CPOE system will create an efficient and useful electronic medical record. Therefore, easing the workload and minimizing errors in patient orders. This student would have made continual updates and newsletters updating the providers and staff about improvements that they would be making in his or her patient’s care. Insufficient leadership support This student would have created a more visible and involved leadership team. This student would have created meetings and training involving both the leadership team and the providers to create a better understanding of how the implementation of the CPOE will help the quality of care given by the providers at Memorial Health System. Organizational inertia This student would have organized the workforce to help drastically reduce the amount of daily workloads to free up dedicated time for the CPOE implementation project. Working in stressful environments can create lack of forward motion on a project because of the added work. Increasing the workforce to distribute the workload will help in the project continuing to move forward. Project complexity This student would have had a frank conversation with the contributing departments and stakeholders about the complexity and scope of the CPOE project. Communication would have included that additions to the project would increase the timeframe and cost of the project. When all entities understand the complexity of the project and that, there will be delays or setbacks in the implementation process this will help ease doubt during transitional times. Conclusion Having a strong implementation plan and goals are imperative when beginning the process of adding or changing an information system. Health care is changing rapidly and implementing system changes takes time, extensive planning, and support. Ensuring that a strong foundation and understanding of the project is in place before implementing a systems change will help in the success of the project. References Wager, K. A., Lee, F. W., Glaser, J. P., Burns, L. R. (2009). Health Care Information Systems. A Practical Approach for Health Care Management, Second Edition. [University Of Phoenix]. http://dx.doi.org/ 9780470387801
Sunday, July 21, 2019
The Benefits Of Implementing Effective Hse Policies Commerce Essay
The Benefits Of Implementing Effective Hse Policies Commerce Essay This report highlights the benefits of effective health and safety policies and practises. It presents a case study company that outlines the importance of implementing a good and effective HSE policy which can be initiated in other small to medium sized oil companies. The major result of the case study is that the case study company believed that improving health and safety was vital to operational risk management and business growth and as such went further to implement it. The key motivator for this initiative was the cost incurred by the company involving an oil spill incident in 2004. It was also discovered that the case study company did not keep a systematic nor comprehensive record of the costs or benefits of the companys operations prior to the 2004 incident. This prompted a change of HSE policy that benefited the company in terms of increased productivity and reduction of employee absence. 2005 2006 2007 2008 2009 Personnel absent due to ill health and injuries % 35.00 32 28 20 10 Hospital bills incurred by company $ 55,000 50,000 42,000 30,000 20,000 Company productivity% 55 58 62 69 74 The implementation and constant supervision of HSE practices within an organisation will always be of benefit to the management and stakeholders as seen in the case of the CNC Oil Company; the case study company for this report. NOTE The CNC Oil Company, which is the case study company in this report, DOES NOT EXIST. This company was made up to highlight the benefits of implementing an effective HSE policy, demonstrating that good HSE practices are essential to the growth and productivity of businesses involving small to medium sized oil companies. ABBREVIATIONS SMOCs Small to Medium sized Oil Companies HSE Health, Safety and Environment SMO Small to Medium sized Oil ASSUMPTIONS ALL FIGURES AND TABLES IN THIS REPORT WERE ASSUMED FOR THE PURPOSE OF THIS REPORT. 1.0 INTRODUCTION Operational risks are associated with our everyday business lives in the oil and gas industry. Sometimes we take risks knowingly and other times, unknowingly. The likelihood of operational harm and disasters are influenced by the attitude to risk taken by employers and employees alike. BACKGROUND This case study have been prepared to help promote the responsibility for health, safety of lives and environment within the small and medium-sized oil companies (SMOC). The report will be taking a look at some of the positives that result from good and effective management of health and safety in the workplace. This report cuts across- The necessity to raise a case for health and safety improvements in order for the present day SMO companies around the world to become aware of the benefits in putting in place good and effective health and safety management Reaching a whole lot of other small to medium-sized oil companies, making them aware that health and safety is infact good for business. It is as important to see and plan for accidents, work related ill health and environmental hazards and destruction, as well as enjoy the benefit of effective health and safety management. Many oil and gas companies classified as small to medium sized fail to see this because they think it is too high leveled and are mainly concerned about the cost of risk management and prevention. Owing to this factor, there is a tendency to see a handful of fully worked up examples of cost and benefits of health and safety within the small to medium sized oil or gas companies. AIMS AND SCOPE OF THIS REPORT The aim of this report is to produce a case study that emphasizes the benefits of implementing health and safety policies and practices to small and medium sized oil and gas companies. A persuasive case study is subsequently put in place to highlight the management of specific risks and improved employee involvement in SMOCs. 2.0 DISCUSSION It is extremely important to establish a business case for managing health and safety standards both for policy and practical purposes. Publishing clear business cases would very much make other companies try to implement and keep up safe and desirable working conditions. Looking at most major accidents occurring with the small to medium sized oil companies (SMOC) it is visible that these accidents happen due to ignorance of HSE policies and procedures and due to the low priority given to health and safety issues in these SMOCs. In Nigeria, the major cause for alarm is the increasing rate of poor occupational health and environmental hazards. These companies tend to neglect the importance of preserving the environment and turn their eyes from the effect this will have on the health of personnel and locals alike. Highlighting the oil spill in a village called Oloibiri, in the Niger Delta region which occurred in June 2004 spilling approximately 20,000barrels of crude it shows clearly how much importance is given to this sector. The village of Oloibiri and its surrounding neighborhood have yet to recover from this spill which was actually an abandoned project of a major oil company but subcontracted to CDC oil company; a smaller contractor oil company for well shut-in (name of major oil company with-held for security reasons). The CNC Oil Company had failed to make use of standard shut in equipments and they had failed to carry out maintenance on their project neglecting simple HSE practices thereby subjecting this entire village and its surrounding neighborhood to this catastrophic condition. During investigation into the cause of the spillage, it was discovered that the subcontractors failed to use standard piping materials and also failed to carry out regular maintenance on the operation. The Niger Delta region is constantly under incessant oil spill threat resulting from rusty sub-standard pipes that are being used by the contractor companies all in order to make more profit while neglecting their responsibilities in the department of health and safety and the June 2004 incident highlights this. While the negative impact caused by CNC Oil Companys lack of responsibility is very visible, it is important to take note that there was not a committee that kept the company in check. It is either they did not exist or their Authority and power was perhaps, greatly undermined. Operational and industrial accidents create a lot of distress and grief to all parties involved, from huge financial costs to negative publicity to which the subcontractor company can testify to. The suppliers, managers, local residents, shareholders employees and all other stakeholders are all interested and concerned when these industrial accidents occur since the oil company has to strike a balance between the different interests of these stakeholders. Lessons are sometimes learnt the hard way. It may take a lot of reduction in employee work rate, increase in recorded absentees from work, reduction in clients, and bad publications to ring the wakeup call for the implementation of effective HSE policies which was the case with the subcontractor company. 3.0 LESSONS LEARNT AND CONSIDERATIONS FOR THE FUTURE It is never enough to carry out extensive investigations on the safety records of most SMOCs. Many of these small to medium sized oil companies usually adopt general health and safety methods which can only be demonstrated by management systems but cannot be proven due to poor record keeping. They fail to review these general methods and tend not to improve their HSE policies as it affects their companies, or they may just choose to ignore safety standards like the case involving the CNC Oil Company in June 2004. 3.1 NATURE OF THE BUSINESS CASE SMOCs do not generally do full quantitative cost benefit analysis and it is therefore not clear if they need it to be convinced of the case in difficult financial terms (Antonelli, Baker, Mcmahon and wright, 2006). An interesting and significant point that unites the SMOCs and the larger oil and gas companies is that the smaller companies also take risk management very serious. They are motivated to improve the health and safety of their personnel when the benefits are presented before them but are not always in the position to invest heavily towards this. The general key motivating issues are: maintaining good reputation; higher productivity especially reduction in absence of personnel; Containing cost of insurance; Abiding by the HSE laws, hereby preventing the likelihood of local HSE organizations taking any kind of actions against them; Meeting the demands of the clients; Avoiding the cost of accidents and remedial approaches. The case study company operates as a contractor company for larger oil companies. They provide services including well abandonment and shut-in operations. The perception of low health and safety risk in a company can drive clients to other companies with better track record in the HSE department to carry out their operations thereby increasing the need to implement good HSE policies in companies while bearing in mind that adequate time and finance is needed to achieve this in higher standards. The case study company in this report implemented new HSE policies which are regarded by organizations as an appropriate course of action to bring business benefits and health and safety improvement. (See appendix). IDENTIFYING THE BENEFITS AND THE COSTS. In any business, there is need to keep a sound record of company operations and HSE policies, as this is very essential to further improvements and growth of the company. The CNC Oil Company failed to keep this kind of record before the incident occurred in 2004 and were faced with the consequences. Many of the SMOCs in Nigeria do not have a predefined budget for health and safety in their initial stages because they did not feel the need to justify such information. This makes it difficult for them to track back how much have been spent or gained in relation to good and effective HSE practices and how to improve further their reputation in this aspect. The Table below depicts the record of CNC Oil Company after the 2004 accident. 2005 2006 2007 2008 2009 Personnel absent due to ill health and injuries % 35.00 32 28 20 10 Hospital bills incurred by company $ 55,000 50,000 42,000 30,000 20,000 Company productivity% 55 58 62 69 74 Table 1. Summarised record of CNC Oil Company in 4years As represented by the table above, CNC Oil Company benefited from the introduction of a new HSE policy and strict adherence to the policy by both the employers and the employees played a vital role in the success they have incurred as at 2009. Therefore, Presenting the financial benefits in terms of reduction in absence rates, business interruption by locals due to accidents and operations that impact negatively to the health and environmental safety of their lands and families, productivity, better reputation, more clients etc, may help alter the attitudes towards health and safety, showing that it is not simply a compliance or personnel welfare issue (Antonelli, Baker, Mcmahon and wright, 2006). CONSIDERATIONS FOR THE FUTURE HSE contractors and departments in various companies must emphasize the importance of improving the health and safety standards of employees and also work out policies to safeguard the surrounding environment in order to contribute to the growth of the company and the community where they are situated. With this in mind, considerations can be given to the following in the future: In the case of the Nigerian oil spill in the Niger delta region, a health, safety and environment governmental body should be put in place and given adequate tools and power to clamp down on companies that do not regard or follow health and safety rules and regulations in their operations inside the Nigerian border; Small to medium sized oil companies should evaluate the impact of the case studies who they work for, who they dont work for and, Baker, why (Antonelli Mcmahon and wright, 2006); Educate and train staff and company contractors about the influence that good or effective and bad or in-effective health and safety practices may bring to the company; Consider the potential for drawing on the extensive knowledge and experience of the health and safety inspectors to identify small to medium sized oil companies who manage health and safety well (Antonelli Mcmahon and wright, 2006); Keep track of the costs or benefits that health and safety has on the operations of the company and try to improve the values from previous years; It is essential that the communities where these companies carry out their operations are well taken care of. The livelihood of the locals usually depends on their environment and health; hence it is essential to take into consideration ways to improve the lives of the people while identifying possible hazards that may harm their lives. 4.0 CONCLUSION SMOCs should operate effective HSE policies to help them meet safety objectives, productivity targets and improve business opportunities. Regular records should be kept to help identify areas of improvement in the company and provide a track record for clients and all shareholders. Investing in effective HSE policies should be one of the major businesses of SMOCs so that they can attain set standards and objectives, and enhance their reputation. There are lots of business benefits associated with implementing effective HSE policies and encouraging strict adherence to these policies. These benefits should be exploited by the SMOCS. REFERENCE A. Antonelli, M. Baker, A. Mcmahon, M. Wright Six SME case studies that demonstrate the business benefit of effective management of Occupational health and safety. Crown, 2006. BIBLIOGRAPHY BOC Operating an effective health, safety and environment policy. Further reading can be found at http://businesscasestudies.co.uk/boc/operating-an-effective-safety-health-and-environmental-policy/conclusion.html#axzz2Cz7sRYST. (Website assessed 18/11/2012) Frank W Bond, Paul E Flaxman, Sharon Loivette A Business case for the management standards for stress. Crown, 2006. H. Hoel, K. Sparks, C.L. Cooper. The cost of violent/ stress at work and the benefits of a violence/stress- free working environment. Geneva: International Labour Organization 2006.
Human Capital In International Companies Management Essay
Human Capital In International Companies Management Essay To expand internationally, arises different problems and challenges for HR managers in human resources department. It is more difficult to manage employees abroad, than if employees were in the home base. The growth of Wooden Bakery internationally determined new assignment and tasks. There is a need to successfully manage this for the benefit of both Wooden Bakery and the individuals. The paper observes the change from domestic to international HR management, which examines issues of culture, contracts, agreements, recruitment process, and remuneration in Wooden Bakery expansion to other countries. All the same, the paper discusses suggestions for HR managers, which involve cultural research, and the functions of selection, training, performance management and remuneration. In this new era of globalisation, international human resource management is becoming a vital concept for human resource managers to be able to practice human resources functions, starting to mention, recruitment selection, performance appraisal, compensation benefits, training development and finally employees relations. This is important for human resource managers in multinational corporations and also in domestic based human resource managers who import employees from overseas. To stay updated with the changing world, human resource managers will have to have an international vision of how to manage their individuals successfully both at home and abroad. Managing international human resources allows wooden bakery to participate more effectively in the market place, and is a developing tool for its employees. Part 1: Introduction Human Resources Definition Human Resources is not only involved in paying the employees their salaries and providing them with the benefits; however it comprises one of the organizations important resource that is the Human resource through hiring, training and developing and most importantly retaining them for the benefits of both parties. Human Resources refer to the policies, systems and employment practices that are used to attract, motivate, develop and retain firms employees. In other words, human resources is considered as an organization function, that focus on recruitment, providing career path for the people who work in the firm, and deals with personnel issues such as hiring, compensation benefits, performance appraisal, safety, employees motivation and finally training development. Human resources is no longer a traditional personnel, and administration, however Human resources role is more strategic and deal with strategic aspect, to make sure that employees contribute effectively and works in parallel with the company direction to achieve the firms goals and objectives. Human Resources functions are common to most firms, first by attracting talented people by recruiting and selection, secondly retaining talented people by wage and salary, benefits and employees relations and finally developing the people by training, development and performance appraisal. Nearly every company says ità ¢Ã¢â€š ¬Ã‚ ¦ Human Resources importance and Need in International Companies The Human Resources department is important in all multinational and international companies. Recruiting and selecting is one function completed by HR, and their main responsibility is hiring and retaining companys most important asset that is our PEOPLE. Failure to do so, and lack of strong, motivated and satisfied employees, working in the right place in a firm will leads to hiring the wrong people, high turnover, employees will not do their best in their jobs and having some candidates demotivated. Thus, without good employees, the best business plan and ideas will be unsuccessful. As well, Human resources take care of all the employees concerns, make sure to solve employees issues immediately and to play the fair judge between the employee and the organization, for both sides advantage. Nevertheless, Human resources guarantee smooth functioning of the operation, good and safe working conditions and ensure that all staff is performing their jobs efficiently and toward the organization goals and objectives. Accordingly, Human Resources Manager evaluates all the employees, reward, takes disciplinary actions or dismissal. Another important role under the human resources umbrella is training and development, and creating career path for all employees, to retain and develop the existing employees, and attract new talented people, in this way the HR will improve the organization reputation, credibility and commitment from staff, thus become an employer of choice and reduce turnover. In this world of globalization, and companys expansion to other countries, Human resources adopt new cultures, and take care of all legal requirements as per the new country rules and regulations, as well as managing payroll, and other presented benefits. As per the strategic approach, human resources play an important function in developing an organization strategy, and managing the employees activities. Part 2: Analysis of the Organization 2.1- Wooden Bakery History Wooden Bakery was founded in Jal El Dib Lebanon in 1969 by Mr. Edward Bou Habib. It was a simple Bakery providing the market with freshly baked quality Bread. In the last decade Wooden Bakery literally revolutionized the bakery industry in Lebanon by setting new standards and upgrading its products and services. Edwards two sons Assaad and Ghassan Bou Habib planned and designed the new concept on paper in 1996. With immense vision and an innovative spirit, Wooden Bakery developed a unique concept gathering Bread (of all kinds), Pastries, Sweets, Sandwiches, Salads and Deli. The first Wooden Bakery Outlet opened at Zalka highway in October 1999. Wooden Bakery launched the first franchised operation in 2002 and expanded to 26 franchised outlets in Lebanon by the end of the year 2012. Wooden Bakery opened the first Master Franchise Operation in Saudi Arabia in July 2009, and currently negotiating the sale of the Master Franchise with a number of companies from the GCC countries. The Concept of the Factory Wooden Bakery system revolves around a state of the art industrial baking facility. It includes the latest and most advanced machinery and equipment in the baking industry. Human Resources department make sure to hires top Master Bakers, Pastry Chefs, and highly qualified Managers and Quality Controllers to assure the freshest and most consistent products for our markets. The Wooden Bakery factory produces from 100 to 150 tons of flours per day depending on the market need and factory size. Wooden Bakery is the leading supplier of high quality Freshly Baked Arabic Bread in the Lebanese market. The Wooden Bakery Factory is capable of supplying a large number of: Arabic and European Bread Products Bread Sticks Dry Desert Products French Pastry Cakes Cakes for any occasions (Wilton Cakes) Croissants and Danishes Arabic Sweets The Wooden Bakery Factory houses a central kitchen facility which produces Mixes and Semi Finished Products for the outlets such as: Marinated Chicken and Beef Cheese Blend A Variety of Mixes and Blends Frozen Appetizers PAR Baked Products The Concept of the Outlet Wooden Bakery Outlets are designed to service all classes of people in any market around the globe. All Wooden Bakery Outlets are located on Main Road Arteries in Strategic Areas, and considered as a One-Stop-Shop where one can buy Fresh Hot French and Arabic Bread, French, Arabic and American Sweets. The Wooden Bakery Outlets offers all mentioned products at Competitive Prices and offer a warm ambiance through its Unique Design, Clean Safe Environment and Excellent Service for its customers. The Wooden Bakery Outlets offer a wide variety of products: Fresh Hot Bread Appetizing Vienneoiserie Mouth-Watering Arabic, French and American Pastry items Scrumptious selection of hundreds of Cheese Deli products Self-Service Products offering the Top 100 items found in every Home Delicious Manakish, Salads, Sandwiches, Submarines, Pizzas, etcà ¢Ã¢â€š ¬Ã‚ ¦ 2.2- Mission and Vision Mission Statement: Our mission is to push our presence and create a brand in the Bakery Industry by Offering MORE and Delivering BETTER Vision Statement Our vision is to dominate the market by building stores on all main road arteries and major cities and towns in Lebanon and beyond, Our products would be available at ALL grocery stores, supermarkets, catering companies and therefore in every single home in Lebanon. 2.3- Local and Multinational Expansion Wooden Bakery first Outlet opened at Zalka highway in October 1999. The first Wooden Bakery franchised operation launched in 2002 and expanded to 26 franchised outlets in Lebanon by the end of the year 2012. Baabda- Hazmieh Mansourieh Bauchrieh Elyssar Awkar Zouk Mikael Zouk Mosbeh Jounieh Jbeil Kfarhbab Amioun Tripoli Zahleh Zalka Jal El Dib Fanar Dekwaneh Chtaura Roumieh Burj Hamoud Sour Zgharta (Soon) Achrafieh (Soon) Chiah (Soon) Naccach (Soon) Bayada(Soon) Wooden Bakery opened the first Master Franchise Operation in Saudi Arabia in July 2009, and currently negotiating the sale of the Master Franchise with a number of companies from the GCC countries. Wooden Bakery KSA Wooden Bakery plan was centred on the key concept that customer satisfaction all over the world is the main goal. It has established and developed its first Master Franchise in Riyadh, Kingdom of Saudi Arabia on July 2009. Its successful set up can be measured by how our products and services that we supply meet however surpass the Saudi customers expectations. The Bread Factory Outlet was built on a 10,000 m2 space to house all the production equipment that will supply Bread and Pastry products and Central Kitchen Food Production to a number of outlets along with the wholesale distribution of Wooden Bakery Products. The Store is spread over two levels that house a main showroom with an eating area and a restaurant. Wooden Bakery has received the award for the Fastest Growing Lebanese Company at the prestigious Social Economic Award 2011, instituted by the global communications agency First Protocol to recognize outstanding achievements by organizations in the social and economic sphere. Today, the name of Wooden Bakery not only spells trust and quality, however, it has become a marked proof that a brand can be born, even in the Lebanese bakery industry. Wooden Bakerys expansion in the Lebanese territory has facilitated the achievement of the owners mission, proving that Wooden Bakery is worthy of the award that comes as a natural translation of its ever-expanding drive to Offer More and Deliver Better. 2.4- Wooden Bakery SWOT Analysis SWOT Analysis Strengths Serves all classes of people Big Variety of products (produced and non-produced by WB items) One Stop Shop Mushrooming Franchise (outlets are located on main roads in strategic areas) All outlets have the same image Product differentiation in the PRESTO section sandwiches. Ex. Rustic Bread Customers loyalty Quality (Shelf life limited) Freshness products (core value) Diversity of products (Arabic, French Pastries Viennoiserie charcuterie Arabic Bread) Rank among the top 25 companies in Lebanon Hold high level of market share in Leb. Balance menu (variety, quality, and price) Quality Control Management during process, on final product and in outlets Franchise Support Weaknesses Outlets are rented premises which leads to increase the operating expenses Franchise operated outlets might not have same level of loyalty as the outlets owned by Wooden Bakery Increase in raw materials and labour costs Not every franchised store owner get involved in the PL statement No direct authority High start-up cost Delivery Service Advertising plan to increase sales through brand awareness Family Business Opportunities Market trend turning bakeries into a wider shopping outlets Healthy eating trend Opening new and international markets New inventions for competition Threats Increase in Labour costs put pressure on button line margins Increase in raw materials costs put pressure on gross profit margins Quality of service focus with the presence of competitors in the market Many competitors (bakerys, supermarkets, etcà ¢Ã¢â€š ¬Ã‚ ¦ Part 3: Methodology and Results 3.1- Describing Human Resources at Wooden Bakery At Wooden Bakery, the human resources department used to work the traditional personnel management tasks, generating payroll and registering employees in NSSF. The Main human resources achievement was shifting from personnel management to human resources management, implementing all human resources functions, and be more involved in Wooden Bakery strategic plan. Human Resources department today mainly concentrates on recruitment, management, and providing directions and guidance for the people who work in Wooden Bakery. Human Resources department deals with employees concerns such as compensation, hiring, performance appraisal, employee motivation, safety, benefits, employees relations, and training development. However, Wooden Bakery HR department make sure that all the employees are effectively contributing to the overall company direction and to accomplish the organization goals and objectives. The administration roles usually played by the Human Resources department are becoming increasingly aligned with the company strategic plan, which in turn is evolving the HR into becoming: Human Resources Management. 3.2- HR Functions in Wooden Bakery 3.1.1- Recruitment and Selection The ability of Wooden Bakery to achieve its objectives of profitable and sustainable growth and high-quality product and service standards depends on the quality of its Human Capital. The recruiting function, which directly affects the quality of Wooden Bakerys human resources, will represent a critical function in the companys development. It is therefore important that a clear recruiting mechanism is established in order to optimize applicant selection, while supporting Wooden Bakerys strategic orientation and values. Proper and professional recruiting is necessary in order to avoid undesirable effects, including: Negative publicity or damage to the companys image Wasted time and effort to interview applicants who do not meet Wooden Bakerys needs Cost incurred in training recruits who should not have passed the recruiting interviews High turnover rates The hiring process in Wooden Bakery includes Recruiting, Processing, Eliminating, Selecting, Rejecting, File Building, Placing, and Orienting. The recruiting process is divided into three phases: Pre-recruiting, Recruiting, and Post-Recruiting. It involves: Posting a job advertisement in appropriate places Evaluating the information provided on each application Screening candidates to determine which ones to interview Verifying references and information Conducting personal interviews Deciding who will be offered the job Orienting the new employee about the organization 3.2.2- Performance appraisal Wooden Bakery use a new assessment concept for evaluating employees, 365 Evaluation, that is created to monitor and evaluate the productivity of Wooden Bakery administration and management staff throughout the year. The concept covers three different aspects and tackles employees productivity by looking at: Missions accomplished (Monthly Evaluation) Key performance indicators (KPI) (Quarterly Evaluation) Yearly competency evaluation The purpose of the 365 Evaluation is to: Monitor the productivity of Wooden Bakery administration and management staff throughout the year. Compensate and reward exceptional achievements, and where applicable take disciplinary actions against under-achievers. The benefits to be gained from conducting performance appraisals include: Recognizing accomplishments and reflecting the results through monetary terms (Salary increase, Promotion, Bonus, etc.) Identifying newly acquired competencies Preparing employee development plans Planning improvement where deficiencies are found Goal-setting Communication between supervisors and employees Monthly Evaluation Mission Based Mission based evaluation is a tracking system that records and rates the mission undertaken by Wooden Bakery administration and management staff on Monthly Basis. Title Subtitle Illustration 1-Mission Details Title Missions name Date Duration Date of registering the idea and expected mission duration Owner The employee who created the idea and who is the custodian for its implementation Department Self-explanatory Mission Scope Objectives Scopeis the sum total of all products, services and outcomes needed to make sure that the mission is successfully done. Objectivesare the benefits, outcomes, or performance improvements that are expected to be accomplished by the mission. Authority Structure List of personnel involved and needed for the completion of the mission and the designed authority distribution 2-Mission Program Task Breakdown Breakdown of tasks and assigning a start and a duration for each task Start Duration 3-Mission Kick-off Registration Owner Signature The mission owner has to register the mission with the HR department after it has been noted by the direct supervisor and approved by the concerned VP Direct Supervisor VP (Concerned) Human Resources Manager 4-Mission Evaluation Score for Innovative At the completion of the mission, the owner has to get the formal evaluation of the concerned VP. 3 criteria will be used to evaluate the mission (Innovative, Importance, Impact) Score for Importance Score for Impact 5- Approvals 3 parties and the checking of the Internal Audit department Once rated by the concerned VP, the mission score is registered by the HR in the Mission Tracking System. The internal Audit team is entitled to monitor the proper implementation of the system. Quarterly Evaluation (Productivity Based) The Quarterly Evaluation is a system that measures the productivity of Wooden Bakery administration and management staff by looking at five (5) aspects: Attendance Mission Accomplishment Policy and Procedure Development (creation and implementation of new procedure) Introduction of Improving Ideas (Cost saving ideas Process improving ideas) Productivity Measurement (Vary from one department to another each department will be evaluated by using five indicators) Yearly Evaluation (Competency Based) The Yearly Evaluation is a systematic way of measuring, reviewing and analysing employee performance on a yearly basis and using the information gathered to plan for the employees future with Wooden Bakery. The feedback is used to judge employee effectiveness as well as provide necessary Training and development to improve the employees contributions to the Wooden Bakerys goals. The purpose of the Yearly Evaluation at Wooden Bakery is for the manager or the direct supervisor and the concerned employee to have an open discussion about performance expectations and actual performance. The employees actual level of performance is compared to the estimated level of performance using standards that were developed by the supervisor. This expected level of performance is to be derived from competencies needed to perform the job in the highest level of professionalism. The comparison of actual performance with expectations and standards serves as a basis for recognizing accomplishments and planning for improvement where insufficiencies are found. Performance appraisals may also be utilized in a progressive disciplinary process to resolve continuing poor performance. 3.2.3- Training and development Wooden Bakery encourage growth and career development of its employees by coaching, and helping them to achieve their personal goals, through providing adequate training, encouragement of staff development, and chances for growth. Wooden Bakery training methods include: Orientation training, Orientation training is the process Wooden Bakery use for welcoming a new employee into Wooden Bakery family. New employee orientation, often organized by a meeting with the Human Resources department, that generally contains information about the new job description, the work environment, company culture, company history, the organization chart, tour of department, introduction to colleagues, Wooden Bakery rules and regulations, etcà ¢Ã¢â€š ¬Ã‚ ¦ On-the-job-training On the job training is used in both our branches and factory to teach new employees how to perform job duties. Sometimes training sessions take place in the headquarters and some other times on site. For example, customer service, food safety and hygiene, menu implementation. Conferences and Seminars Wooden Bakery works on developing its employees skills by sending them to international conferences, Seminars and Workshops. Some of the trainings attended by Wooden Bakery administration employees: RD Technician and RD Manager were sent in 2010 to Las Vegas to attend Baking Industry Trade Fair Production Manager and RD Manager were sent in 2012 to Bulguim to attend Professional training session held by PURATOS Quality Controller Supervisor and RD Supervisor were sent in 2012 to Paris to attend training with Chopin Technologies Maintenance Manager was sent in 2012 to Vienna to attend a conference in ROSENDAHL Company. 3.2.4- Compensation and benefits The term compensation in Wooden Bakery refers to the wages used to reward employees. As for benefits, Wooden Bakery offers paid vacations to its employees. Wooden Bakery wishes to maintain a sense of fairness and equity within the pay structure Grading System. For each position at Wooden Bakery the following will be defined: The Minimum, the Middle, and the Maximum fixed salary range The minimum and maximum of each fixed salary range is selected in line with market realities, and based on external salary surveys of comparable organizations. The parameters used to determine the weight of each job and thus giving an accurate grade based on numerical study: Know How Technical Knowledge Management Extent Human Relations Highest Education Level Problem Solving Reasoning Decision Making Communication Influence on Others Accountability Freedom to Act Magnitude of Action Impact of Decisions Working Conditions Long Working Hours Working during Holidays Extensive Traveling Hazardous Environment and Critical Encounters The grading system at Wooden Bakery offers a clear career path for employees who show potentials to advance within the company hierarchy. Moving horizontally within the same grade is governed by different factors including: Seniority (1.5 years spent in each level) Performance Appraisal Recommendations Acquiring Additional Skills (Experience and Education) Top Management Discression Moving vertically is governed by different factors including: Performance Appraisal Recommendations Acquiring Additional Skills (Experience and Education) Availability of the vacancy 3.2.5- Employees Relations Wooden Bakery promotes a positive atmosphere, and encourages positive relations between employees, to be able to reach the organization goals and objectives. Employees Relations is concerned to prevent and resolve problems involved by employees which arise out of or might affect Wooden Bakery work atmosphere. Wooden Bakery employees relation involves the relation between the employees with each other or their relation with their supervisors. Wooden Bakery concerned supervisors provide advises on how to correct poor performance and employee misconduct. The Company Disciplinary Action is to help and encourage employees to improve, achieve and maintain standards of conduct, attendance and job performance. It also enables management to deal effectively with those employees who do not comply with Wooden Bakery standards of conduct, attendance and performance in the workplace. Employee relations are designed in a manner which is non-discriminatory and which is Fair consistent and effective. It must also be applied in a timely manner and without undue delay. 3.3- Human Resources Planning for Global expansion Global expansion is a growth strategy for the future. It is at the heart of Wooden Bakerys development strategy. The owners are constantly striving to raise market share through expansion primarily in the Middle east and subsequently worldwide, in order to win over increasing numbers of customers. Wooden Bakery began seeking out growth and expansion, looking to reach out into new markets through Master Franchising and/or Partnership/Joint Venture. Wooden Bakery planned to expand worldwide after going through a number of challenges and risks that need to be taken into consideration along with is the Human Resources. The human recourse factor refers to the hiring of employees in the foreign markets, and the challenges and risks that come with doing so. Wooden Bakery will always take into consideration the foreign country laws, rules and regulations, which might be far different from our country of origin and which may seem difficult to manage with. One of the differences is the employees contracts in other foreign countries, which define the parameters of an employees job benefits, including vacation time, working hours, salaries, compensation, severance pay, etc. The differences stated earlier will mandate that the total packages offered abroad are tangibly higher than those offered within the Lebanese region. Thus, the existence of all the above variances means that any organization looking to expand internationally will need to do unlimited researches in regards to the foreign markets, since it might affect its operation. Implementing a global business strategy requires having the right people in the right places; it requires specialized leadership skills-managing the work of people with different backgrounds and customs. 3.4- Global Expansion Requires New HR and Training Strategies Recently the role of HR shifted from being a normal cost center and support service into becoming a strategic partner. Most organizations simply understand that their people are their competitive advantage, and view human resources as an investment, not an expense. Companies invest in their employees, because the future of the company belongs to the people who are continually involved in educating themselves and developing their skills and knowledge. As companies grow internationally, it is so crucial for global regular employees training. It is human resources challenge to train employees to be able to meet the organization mission as well as the requirements needed and the new region customs. Unfortunately, the majority of companies have the passion and commitment, to invest in their employees and provide them the necessary training for international exposure, but the budget necessary to achieve these goals may not. However, Wooden Bakery focuses on training and has enlarged its training department with highly qualified people who provide all the employees with necessary trainings and skill development opportunities to make sure that organizational goals are achieved. Top Master Bakers, Pastry Chefs, and highly qualified Managers and Quality Controllers are being sent to Wooden Bakery KSA to provide necessary training that ensures standardization and product consistency are being implemented. Companies that have a clear training and development strategy will note growth in the following areas, Reduced turnover: well trained employees are more likely to stay with your organization and it decreases the expenses of employing and training costs. Better productivity: well trained employees are more productive. Workforce: employees will have a deeper understanding of organization goals and mission, and will know their role in reaching those aims. 3.5- The HR Challenges of International Expansion One of the very important skills for domestic companies to grow global is the international HR management. As much as it is important for multinational and international companies, it is essential for HR department in domestic companies that recruit people from abroad. Nowadays there are many challenges that international human resources department has to take into consideration, starting to mention the cultural impacts, the local rules and regulations and finally working conditions and salary packages. HR policies and leadership development should grow since almost every business in all sectors risk a big share of their growth strategies on global expansion. There are many activities and skills that have become crucial to success. These activities include attracting and retaining skilled employees, increasing productivity, improving the workforce in the market, organizing the company by placing the competent and credible leadership in the right positions and moulding the beliefs and differences between personnel. Ethnical preferences and expectations can weaken a companys human resource strategy in globalization and can affect its effectiveness due to the influence of the economy.            In order to i
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