International Cross Culture & Diversity Management (EDL 412)-Semester IV

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International Cross Culture & Diversity Management (EDL 412)-Semester IV

Case Study

An AGFA case study

This case study looks at how AGFA, a leading player, is taking full advantage of the digital revolution. The company is using the new technology as:

• an engine for growing its business

• a means of providing its customers with better product possibilities and with greater flexibility and choice.

Agfa

Agfa is a leading name in the imaging industry. The Agfa-Gevaert Group de-velops, produces and distributes an extensive range of analogue and digital imaging systems. Agfa has divided its operations into three segments.

Agfa’s operations involve a high level of innovation. The company’s willingness and ability to work at the leading edge of technology help to make it a leader in its field. For Agfa to remain a market leader, its managers must concern themselves with the future and ask themselves:

• Where is the industry heading?

• What are our competitors likely to do next?

• Where do we go from here?

With imaging, the answers currently are:

• The industry is heading towards greater use of digital imaging.

• Our competitors will invest in research and development aimed at enhancing quality at affordable prices.

• We look to get there first, with better products to sell to customers who are prepared for using them.

This approach requires a willingness to invest heavily in new projects that maximise the benefits of new technology.

Every proposed project undergoes investment appraisal. This procedure establishes whether a particular project is worth taking forward. Managers will ask key questions about a proposal, including:

• How expensive are the initial outlay and the final total outlay likely to be?

• For how long are we likely to be spending money without any financial return?

• How long is it likely to be before we recover, from sales, all the money we have invested?

• What return can we reasonably expect from our investment in the long term?

• How big are the risks? What events over which we have little or no control could cause this project to falter or fail? How likely are they?

Risks for the imaging industry include:

• a significant rise in the cost of borrowing to finance investment

• a downturn in business activity worldwide that persuades industrial customers to postpone their own purchase of new plant and equipment

• poorer job prospects for the general public that deter private consumers from spending on the latest products.

Large scale investment

Agfa must consider these factors as it contemplates large scale investment in new digitally based technologies.

During 2000 Agfa invested around 224 million Euros (equivalent to 4% of its sales revenue) in research and development. Part of this involved working with external partners eg universities and leading research centres.

Much of the work reflected the need to move forward in:

• developing the transition from analogue to digital solutions

• meeting a wider variety of customer needs

• helping Agfa to create new market sectors and to enter them profitably.

• Digital technologies are changing the way in which people take, process and use images. New processes allow customers to work with images quickly and efficiently, without requiring extensive expertise and knowledge. Take, for example, the newspaper world. With newspapers, speed is vital and editors want the best pictures to go with the latest stories.

• Digital technology is transforming newspaper production. For example, sports photographers no longer have to dash back to the office to develop prints, wondering anxiously what they have captured. They know immediately the quality of the image they have and they can despatch it immediately too. As a result, the publisher soon has on sale a comprehensive local Saturday night ‘sports special’ carrying action photos of spectacular moments that occurred hundreds of miles away just a short time earlier.

• The new technology is also transforming photography for the general public. For example, crystal clear photos of a baby can now be available to proud, anxious grandparents thousands of miles away within a few minutes of an infant’s birth.

• Technological advance does have a downside, in that demand for new products affects sales of older ones. As a market, analogue photography has almost reached maturity. It is still

Today’s businesses and management are quite complex due to the globalization and to the fact that in a company there might be several people from several different backgrounds and variety cultures. But still, I would say that the most important thing in order to manage well is to Communicate and have the need for communicate well to each other and most importantly have an effective intercultural communication between co-workers. This is why the management today must ensure that they are understanding and being understood across cultural boundaries. As I was working for the clothing company in Finland which did business Italian company and ordered cloths from Italy there were several problems in communication and concepts.

The Intercultural management problem: When thinking about all the cultural differences mentioned above and acknowledge the situation; The Finnish Company ordered clothes from Italy in their strict deadlines, ordering dates and expectations that the goods will be delivered on time. The manager told to two of our employees to make sure that the orders are done and delivered. The employees contacted the persons in Italy made example were order and agreed on the deadlines, due dates of the payments and delivery dates. Everything the well. But when the delivery date came, no goods were delivered or even sent from Italy yet, even we in Finland already had promised the goods to be in the boutique for customers. The manager in Finland blamed the two employees for not doing their task well and contacted the people in Italy. getting The same chain of events happened often always something fast late from the deadline, phone meetings were late, and if there was a meeting organized in Italy or Finland, it didn’t go well.

Our Finnish manager wanted to go straight to Business and talk about the orders when the Italians wanted to have a dinner and take the time for get together first. Our manager explained to his employees how rude the Italians were because they came physically very close in the meetings and didn’t stick to the point, and was overwhelmed even from his employees that why the wanted to continue the meeting. All in the entire situation was chaotic and the cultural differences were too much for our Finnish manager. He had been used to do business only in Finland before and didn’t have a clue how different the business between two different countries can be. This situation kept on going because the Finnish manager didn’t want to change his habits and the Italians didn’t even know that something was wrong. When I started my job in this company the situation was very bad, and in the end, our manager quit his job. We got a new manager, and after that everything started to go well and the connections and communications between our employees in Italy and Finland were good.

The problems mentioned above are related to the problems when a person cannot adjust and adapt to the other cultures, and the same happens if a worker changes a country where to work, The cultural differences can be too much to handle which effects to the results of the work. The same happened here for the manager but in his own country working with people abroad. That the importance of intercultural training is crucial. In the article, it is also mentioned that working in a foreign country or with foreign cultures is a big challenge for any company.

Discussion:

At first, I would like to give some background information of Finland and Italian business habits in order to understand the problem. Emeritus Professor Geert Hofstede from Maastricht University has completed many studies concerning cross cross-culturalrences. His goal was to find an understanding and similarities between cultures. In order to do so, Hofstede came up with five different dimensions for collecting the relevant findings under mutual nominators. Italy and Finland are an example of cultures which are quite different in his scale. First I would like to mention as a theoretical background the two diagrams one from Finland and one from Italy and explain some important point from them.

From the above diagrams it’s revealed that Finland is a quite feminine country when Italy is a masculine country. The Individuality rate is about the same meaning that there is a strong importance for the opinion of an individual but as a matter of fact in Finland the Individuality for man and a woman is more equal and also the relationship between parent and a child or employer and employee is based on the mutual advantage, not on the hierarchy like it is more normal in Italy. From the diagram it’s easy to see the difference in Power distance. Italian culture is more High Power distant because, for example, the organization has its leaders and the members of it will follow them. The division of power is also quite centralized as well as centralized fairly. On the other hand, the core values in Finland are equality between people and responsibility. That refers to the point that Finland is Low Power Distant country. It is common to speak openly in a social context, and privileges and status are frowned upon. The difference between less and more powerful people high context. The factor in the diagram Uncertainty avoidance is higher in Italy and Lower in Finland; this might be related to the old traditions in Italy and to the fact that the Finns are more open to new opportunities than the Italians. All in all, I wanted to describe the cultural differences between these two countries and show that even in the daily life there are huge differences.

The point what I would like to rise up is the importance of intercultural training and the fact that the concept of time and space are crucial to understanding that they vary a lot between countries. Edward T. Hall is an American cross- cultural researcher and anthropologist, who examined the different cultures of the world and created the concepts of high context culture, polychromic time and meaning of space. He found that these factors varied according to culture and throughout his findings, he was also able to categories countries according to these means. In the Intercultural management problem I think the main issues were Time and Space. Especially time.

Edward T. Hall is an American cross- cultural researcher and anthropologist, who examined the different cultures of the world and created the concepts of high context culture, polychromic time and meaning of space. He found that these factors varied according to culture and throughout his findings, he was also able to categorize countries according to these means. The next theory has been gathered from Edward T. Hall’s literature “The Silent Language” and “Beyond Culture”.

Conclusion:

The Intercultural management problem which I discussed above was really common I think nowadays but also very harmful for the company, employees and managers. The management of the company suffers and also the business partners etc. In fact after discussing and having some theoretical background to the topic I would say that the main reason for the problem when thinking about the theory part Hofstedes and Halls theories for example were the misunderstanding of concepts like time, space and even business etiquette and the differences. The point that the manager didn’t have enough knowledge of managing a company with international partners was most crucial part. As a solution mentioned above in the text I would recommend Intercultural training and flexibility in cultural differences for the whole company from employees to managers. My message concerning the intercultural problem here is that nowadays in our globalizing world it is the most important factor when doing international business to be aware of the countries and cultures around you.

Question 1 : Businesses and management are quite complex due to the ____

Select one:

a. Trend

b. Economy

c. globalization

d. World war

Question 2

core values in Finland are equality between people and ____.

Select one:

a. Position

b. power

c. Time

d. responsibility

Question 3

Edward T. Hall is an American cross- cultural researcher and ___

Select one:

a. Physiologist

b. anthropologist

c. both a & b

d. Social worker

Question 4

Emeritus Professor Geert Hofstede goal was to find an understanding and _____ between cultures.

Select one:

a. Dissimilarities

b. similarities

c. both a & b

d. only a

Question 5

Finland is __Power Distant country.

Select one:

a. Low

b. High

c. both a & b

d. all of the above

Question 6

Hofstede came up with___ different dimensions for collecting the relevant findings under mutual nominators.

Select one:

a. one

b. five

c. two

d. four

Question 7

In the Intercultural management problem the main issues were Time and __

Select one:

a. Space

b. value

c. money

d. none of the above

Question 8

Italian culture is _____High Power distant

Select one:

a. less

b. more

c. equal

d. both a & b

Question 9

The factor in the diagram Uncertainty avoidance is ____ in Italy and Lower in Finland

Select one:

a. lower

b. unequal

c. higher

d. more

Question 10

theory has been gathered from Edward T. Hall’s literature “The Silent Language” and _____

Select one:

a. Beyond Culture

b. Art

c. Literature

d. none of the above

10/10

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2 Module Assesment

In summer 2000 I left Switzerland for three months with the aim to take a film course in New York. Even though I was used travelling with others, this time I went alone which gave the trip a somehow adventurous flair. I had organised myself a place to live before I left home, but didn’t know at all how it would be or look like. As I arrived at the airport I took a cab to Avenue C, in the East Village of downtown Manhattan and was somehow shocked when the cabdriver stopped in front of a totally battered door in a dark street. It looked like one of this muddy gutters in the Bronx that I had seen on television. A little bit unconfident I took my luggage and went to the door. There was no doorbell therefore I knocked. The door was opened by a Peruvian man, who turned out to be Carlos, the landlord of the house. I was welcomed warmly into the spacious living room, in which at least eight young people sat, having a small party. The house turned out to be a very warm and friendly place where many international students were renting their rooms. A middle-aged actor out of engagement was living there, too. His name was Philippe, half Swiss half British, who had been living in New York already for several years.

I swiftly adapted to that house and I started to love the East Village immediately. It is a very international part of the city, a truly cross-cultural place. Most of the inhabitants come from Puerto Rico, but also a lot of African Americans and in addition, many people with an extraordinary lifestyle, artists, musicians and actors are living there. For me, who was used to very well organised and tidy Swiss mentality, it was a totally different way of life.

In the house, we cooked together many times and it was after one of these meals when Philippe, the actor, started to bring the discussion to Switzerland. Being half Swiss he was very interested in everything that concerned the country and he was happy to have me there to talk to. At the time, the big discussion in the media about Switzerland’s behaviour in the Second World War was an ongoing issue. Ed Fagan, an American reparations lawyer, had sued the Swiss banks on behalf of Holocaust victims. The Swiss banks settled the claims outside of the court, agreeing in a payout of 1,25 billion US-Dollars for the Jewish descendants. Since New York is known for having a big Jewish community and because of the numerous reports in the US-media, the issue was an ongoing discussion in the City.

Philippe started the conversation with the focus on the dubious role of the Swiss banks. He argued that the banks were to blame for the destiny of many Jewish descendants who had to start a new life in the United States without any money. In his point of view, the banks had deliberately avoided any confrontation and had wanted to hog insurable values for themselves. Since at that time the discussion in Switzerland had already turned into an overflow, I was not very much interested in a profound conversation. However, I tried to explain my point of view and made the mistake not to admit immediately the guilt of the banks. I actually wanted to make clear that there were many other factors that led to this behaviour. Of course, Philippe just wanted to make his point clear but he actually started to blame the whole Swiss society for being very greedy for money. I felt deeply offended by that and finally committed myself to the argument. But at this point a normal discussion was not possible any more. The two of us got really angry at each other. I tried to vindicate my country like a defence lawyer standing in front of a court. At one point Philippe asked why I was feeling so offended by that discussion and at that point I stopped and went angrily into my room. Laying on my bed, I still felt very insulted and sad. But after a while I started to reconsider the issue. Actually, Philippe was right asking why I felt offended, because I couldn’t find a reason myself. In fact, I didn’t agree at all with the behaviour of the Swiss banks concerning the insurable values from the time of the Second World War. What made me angry was the fact that the whole international press was picking at Switzerland like it was the only country who ever did something wrong. At the time, Switzerland had reacted already on the international critics. The Swiss government had installed the Independent Commission of Experts to bring light into the Swiss past. But this fact hadn’t made it into the headlines of the international press.

I will describe a cross-cultural encounter in which I was an observer for almost two years. This extended “critical incident” took place in Mexico City, where I had my last job at the United Nations Environmental Programme before coming to study in Switzerland. The people involved in this long-suffered story are mainly my former boss, Mr. Griffith, (I work for him as his assistant) and colleagues from different nationalities such as a Cuban Regional Director, high officers from Chile, Panama, Uruguay, Japan, Great Britain, and of course Mexico.

Mr. Griffith came from a Caribbean-English style background and had lived in Nairobi, Kenya working at the headquarters for the same United Nations Environment Programme for more than seven years. Unexpectedly, he was appointed to accomplish a mission in Mexico City for a smaller branch office in the Latin America region without knowing a single word of Spanish, and was pulled out from his usual English way of living and thinking, and driven to a Latin American environment wholly unknown and unusual for him.

So, this cross-cultural encounter had two immediate repercussions at the personal level for Mr. Griffith but mostly at the operative and managerial level. At this last level, even though the whole United Nations system is supposed to be organized with the same rules and manuals around the world (I was aware that every local office refines the model system according to their local office logistics), it was very difficult for Mr. Griffith to understand and adapt to this local culture where the organization operates. The most critical aspect for him was the fact to understand the easy-going Latin personality and moreover the concept of time. It is also important to mention that he had two deal with different forces or mentalities such as the one from the Cuban Director, resembling a more dictatorial managerial style; then the one from the officers at his same level with a more American or Latin American way of thinking, together with a very bureaucratic administration.

Mr. Griffith’s responsibilities were mainly to develop, implement and finance environmental projects for the Latin American and Caribbean countries. But frequently, his work was blocked by this bureaucratic administration. Things were not as smooth as working directly in the headquarters. He felt committed to the countries to fulfill their demands, but he was not able anymore to assist them as he did in his former office while working with nations from other regions. The same happened with his colleagues; he would expect to have a faster input from them when asking for advice on certain shared issues. But at the same time, it was challenging for him to assimilate his sudden change of office, he was not willing to adapt to the other’s colleagues way of working, and wanted to keep the same rules and conditions defined in the organization and management of his former office.

He never felt integrated into the staff community at the social level, but he did not make an effort to become part of it, as the other international colleagues were already adapted in a Mexican environment. He kept on comparing and criticising our culture creating an uncomfortable environment not only for national but also for global staff, sometimes showing some ethnocentric characteristics.

He was not interested in building any social or professional relations, so this behavior created a hostile situation among the colleagues and had immediate repercussions in his everyday work as he did not feel the necessary support he needed from his colleagues in shared activities or projects. It was difficult for him to approach his colleagues to ask for their comments and advises.

Specifically, at the cultural level, he made the great mistake of not learning Spanish, even though Spanish lessons were paid for him, he was never interested in this local language or the Mexican culture. So he always depended on translations or interpretation for the meetings. It seemed like he did not want to be introduced or exposed to a new culture, and was afraid of this “foreignness.” In everyday life, he lost small but meaningful discussions or comments from his colleagues whenever English was not spoken.

Personal Interpretation

As it can be seen, this cross-cultural encounter does not describe a specific situation, but clearly, depicts a complex and problematic work situation due to cultural shock reasons.

According to what I saw in two years of working together with Mr. Griffith, I can say that his Latin American experience has been almost like a nightmare for him, but unfortunately, I consider that he was unable to use cultural diversity as a competitive tool for his international working experience.

Finally, I consider that in order to successfully interact with a foreign culture in the business world or as in this case with an international organization dealing with a multicultural staff; one should be aware of being critical enough to understand and analyze the similarities and differences between cultures which are hidden or difficult to visualise at first sight. Then, this knowledge could also be used to feel more comfortable by understanding the behaviors of the foreign partner, and at the same time showing respect for the host society could also create a solid basis for the beginning of effective intercultural communication.

Question 1: Case is based on Cross culture encounter which took place in __

Select one:

a. Mexico

b. America

c. Norway

d. Spain

Question 2

cross-cultural encounter does not describe a ____situation

Select one:

a. Common

b. Unique

c. specific

d. none of the above

Question 3

Ed Fagan, an American reparations lawyer, had sued the Swiss banks on behalf of ______victims.

Select one:

a. American

b. Child

c. Holocaust

d. none of the above

Question 4

Mr. Griffith came from a ____-English style background and had lived in Nairobi

Select one:

a. Caribbean

b. European

c. Russian

d. Indonesian

Question 5

Mr. Griffith’s responsibilities were mainly to develop, implement and finance environmental projects for the Latin American and___countries

Select one:

a. European

b. Caribbean

c. Only b

d. Both a & b

Question 6

New York is known for having a big ___community

Select one:

a. Jewish

b. American

c. Italian

d. Iranian

Question 7

one should be aware of being critical enough to understand and analyze the similarities and differences between ______which are hidden or difficult to visualise at first sight.

Select one:

a. Norms

b. Ethics

c. values

d. cultures

Question 8

Philippe started the conversation with the focus on the dubious role of the _____

Select one:

a. American Government

b. Swiss banks

c. Both a & b

d. all of the above

Question 9

Swiss banks concerning the _____values from the time of the Second World War.

Select one:

a. Assurable

b. core

c. national

d. Insurable

Question 10

The Swiss government had installed the Independent___ of Experts to bring light into the Swiss past

Select one:

a. Board

b. Panel

c. Both a & b

d. Commission

10/10

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3rd Module Assessment

Introduction

The topic treated in this paper came to my mind talking with my friend Ciro. He is a Swiss event manager working for an important international hotel chain. After working in Switzerland for over ten years with great success, his company moved him to Egypt, as responsible for events in their resort on the red sea. No specific instruction was given to him regarding how to manage the intercultural differences he would necessarily encounter. And indeed he did. His new boss was Swiss, but all of his subordinates and most of his peers, Egyptians.

One of the first things that struck him in his new work environment was how his Egyptian peers treated their subordinates. Orders were given in a very unfriendly manner, and if the work was not completed in an adequate way they would shout and threaten the neglectful.

Ciro was well known in Switzerland for being a very gentle and polite boss, his subordinates most appreciated his relational qualities, the way he treated them as equals and how he always took into consideration their ideas and remarks.

He talked about his perplexities with his Swiss ethnocentric boss, who simply replied: “Egyptians are lazy if you don’t treat them this way they will not work”. Unhappy with this answer, Ciro decided to try out his usual egalitarian management style in Egypt. He then held his first meeting with his direct reports and asked them to express the ideas they had about possible events to organise in the next future, but everybody kept silent. When he finally came up with a banal idea, everybody supported it without further discussion. This meeting model repeated itself, again and again, nobody ever seems to have initiative.

Despite his discouragement, Ciro had friendly manners with his subordinates and once he dispatched the work he didn’t continuously check it up, convinced that personal responsibility would be sufficient.

He soon realised that work wasn’t completed, that his friendly manners were interpreted as weakness and that he was the one expected to have ideas, as he was the boss. Ciro finally understood the importance and the extent of cultural differences existing between Egypt and Switzerland.

Ciro’s experience is not an isolated case, and lack of awareness of cultural differences have caused serious issues when not addressed correctly. Malcolm Gladwell, in his book “Outliers: The Story of Success”. (2008) gives an intercultural interpretation of the repeated crashes of Korean Air in the 1990s. Boeing and Airbus design aeroplanes where pilots and co-pilots are meant to act as equals in the cabin, but Korean culture doesn’t permit co-pilots to correct errors done by hierarchically superior pilots, and if an irreverent co-pilot dared criticise a pilot, he probably wouldn’t be heard. According to Malcolm Gladwell, cultural difference in Korean culture is at the origin of the repeated air crashes and losses of hundreds of lives. Korean Air finally figured out the nature of their problem and fixed it.

On the other hand, in the academic field, there is a great deal of research done on intercultural management and debates are intense. Geert Hofstede has been one of the most influential researchers in this field. In the early 1980’s he conducted a study on how values in the workplace are influenced by culture. His study was first conducted in IBM covering 70 countries. Subsequent researchers have covered other multinational firms and countries.

Hofstede (1980) developed a model that identifies four primary dimensions to assist in differentiating cultures: power distance, individualism/collectivism, uncertainty avoidance, and masculinity/femininity. According to Hofstede (1991), culture refers to the collective programming of the mind, which distinguishes the members of one group or category of people from another. Each dimension is based on a continuum, so those actual situations are not just polarised between high and low but may be anywhere in between.

Actually, Hofstede’s dimensions validate our examples. Power distance is defined as “the extent to which the less powerful members of organisations and institutions accept and expect that power is distributed unequally. This represents inequality but defined from below, not from above. It suggests that a society’s level of inequality is endorsed by the followers as much as by the leaders.”(Hofstede, 1980). Ciro comes from Switzerland, where the power distance indicator is very low, 34, while Egypt stands at the other end of the rule, scoring 80. This difference in power distance is a possible and plausible explanation of the difficulties encountered by Ciro in his new job. South Korea’s power distance indicator stands in between, rating 60 but it comes with a very high uncertainty avoidance index: 85, indicating the society’s low level of tolerance for uncertainty. When these two dimensions are combined, it creates a situation where leaders have virtually ultimate power and authority, and the rules, laws and regulations developed by those in power reinforce their own leadership and control. It is, therefore, understandable that the situation in the cockpit between pilot and co-pilot was not at all egalitarian, as the designer of the aeroplanes supposed it was.

Numerous subsequent studies have used one or more of Hofstede’s dimensions to measure cultural distance and other researchers such as Cameron & Quinn (1983) or Trompenaars (1993) have developed different models. More recently the extensive GLOBE study (2004) determined how leadership values are culturally contingent.

Another influential researcher in intercultural management is Nancy Adler (1991). She asks whether organisational culture can moderate or even erase the influence of national culture. Her researches demonstrate that organisational culture, on the contrary, magnifies national cultures, making the latter’s impact on work behaviours more pronounced. Adler’s observations support the conclusion that national culture outweighs organisational culture.

All these studies tend to demonstrate that in international business, relations between colleges, with competitors and with clients are highly dependent on cultural values.

Nevertheless, despite the effects of cross-cultural differences on international business are widely acknowledged, international firms continue to experience costly failures when venturing overseas. Indeed, according to academic and non-academic literature, companies are struggling to succeed in the global multicultural environment. A high number of failures have been documented in areas such as international joint ventures, mergers and acquisitions (Rottig, 2007; Arikan, 2004) and expatriate assignments (Hill, 2001; Storti, 2001;). In many cases, a lack of intercultural competence appears to be the prime cause of the failure.

Discussion

Keiretsu News (2006) reports that “There is a startling high failure rate for newly acquired or merged businesses. Within 18 months of closing, 80% of large cap, 50% of small cap, and 80% of micro cap transactions fail to meet stakeholder objectives. Separately, Mergerstat.com spent two years tracking results from the 8,224 domestic transactions conducted in 2001. The study estimates that a staggering $560 billion of business value was destroyed due to M&A failure.”. Doug MacDonald (2005) points out that failures in mergers and acquisitions and joint ventures rate somewhere between 40 and 80%.

Daniel Rotting conducted a study aimed to identify key difficulties that may cause such high failure rates of cross-border mergers and acquisitions, and developed a typology of strategies to facilitate the management of these problems His study indicates that cultural distance alone cannot define international acquisition performance. He argues that the consequences of culture on international acquisition performance are of a more complex nature and that “it is not cultural distance per se, but the ineffective management of cultural differences that may be the main reason for the high failure rates of international acquisitions.” (Rotting, 2007, p2.).

Apud, Lenartowicz and Johnson (2003) conducted a three-stage study to establish the extent of academic research in cross-cultural issues in international business; the degree to which top business schools incorporate these issues in undergraduate and graduate business programs; and the awareness of and responsiveness to these issues by practitioners. They found a low level of intercultural competence among business practitioners and consultants and an apparent failure in the dissemination of existing intercultural knowledge in business schools and by corporate in-house and external trainers.

In addition, until a few years ago it was widely acknowledged that intercultural competence was necessary for expatriates leaving their homeland and facing new situations abroad. Recent articles in the business literature suggest that in today’s hypercompetitive global marketplace intercultural competence should be spread out to all levels of the organisations. Martha Frase’s puts it in these words: “Increasingly, companies will find that to grow, they will have to expand into international markets and be able to function effectively in cultures that may be little-known to them. Such companies will have to elevate their familiarity with other customs and languages, and their newfound cross-cultural awareness will have to permeate not only corporate ranks but all the levels below down to the employees who carry on the enterprise day after day, dealing with counterparts in other countries without even visiting those places.” (Frase, M., 2007)

From current academic and non-academic literature, it is clear that many multinational firms fail in their overseas assignments due to intercultural communication problems: academic and business authors have identified a lack of intercultural competence as a key factor in the failure of international business. This paper intends to identify possible solutions to improve intercultural competencies in international business, but in order to pursue, we first need to clarify the concepts of culture and intercultural competence.

Culture is often seen as a shared meaning system. Researchers such as Hofstede and Trompenaars have built their models on a classic concept of culture, where culture is seen as homogeneous inside a nation and stable. As pointed out by Søderberg and Holden (2002), “culture is seen as something that members of a community (e.g. an organisation or a nation) “have” or “belong to”. In such a picture, cultural differences are inevitably seen as sources of conflict, problems and misunderstandings.

This limited view of individuals belonging preeminently to a given culture, where people are classified according to a single criterion and thus have a single dimension, is nevertheless criticised by numerous researchers in the intercultural communication field. Amartya Sen (2006), for instance, proposes a more complete model, where individuals belong simultaneously to numerous groups, such as « Woman », « vegetarian », « lawyer », « lover of jazz » and « heterosexual ». Identity is multidimensional and cannot be reduced to a single aspect. We are different in different ways and we are capable of interacting in a variety of ways. For Amartya Sen, our identity is not defined by destiny, given by birth, nationality or religion. On the contrary, each person is free to compose his own identity according to multiple dimensions. Belonging to a community may determine an essential part of this identity, but it may not define ultimately a person.

Furthermore, nations are not as stable and totally separated one from another as Hofstede’s model supposes. Important internal dynamics occur, and the official culture is always in competition with alternative cultures present in the country or organisation. The competition with alternative cultures eventually alters the official culture which is therefore in constant evolution. The presence of diversity is the seed for future change, and a rigid view of culture does not correspond to reality. Besides, the notion of multicultural nations is widely amplified in our fast globalising world.

In this context, culture is not only a source of misunderstanding and conflict, but a source of competitive advantage, and intercultural competencies, are not confined to enhancing intercultural or cross-cultural awareness and negotiation skills but they are the necessary skills

to “facilitate and direct synergistic interaction and learning at interfaces, where knowledge, values and experience are transferred into multicultural domains of implementation” (Søderberg and Holden, 2002, p113).

With these concepts in mind, let us now try to identify possible solutions to the lack of effective intercultural competence in an increasingly interdependent and culturally diverse business world. Many articles indicate training as the main area of improvement, but while training is based on outdated concepts of culture, its efficiency is necessarily limited.

Apud, Lenartowicz and Johnson (2003), give an alternative explanation: failure can be ascribed to an ethnocentric perspective. Ethnocentrism affects intercultural competence, such that strong ethnocentrism inhibits effective intercultural communication. For this, they argue, “there is no quick fix available. No amount of individual training will get managers beyond the awareness and understanding stages if there is an organisational culture that fails to promote the merits of developing global expertise.”

Lowe, Moore, and Carr (2007) go further, according to them, “all knowledge contributions are captive of one privileged view, tolerant of a second marginalised view and denigrative or ignorant of a third view. In other words, all knowledge is captive of blind prejudices.”

The solution proposed in this paper includes learning of intercultural competence, avoids single- paradigm myopia and, if well managed, can be a strategic resource for success. This solution was not only inspired by current academic and business literature, but also by the initial example of Ciro, our Swiss manager in Egypt. After a few months of frustrating work, Ciro finally decided to gradually modify the structure of his group. As people left or were transferred to other units of the hotel, he hired people to form totally different backgrounds also considering the diversity of the clientele. Besides, he paid attention to gender, academic backgrounds and age brackets, ending up with a highly diverse team. At the beginning, managing this team resulted difficult because misunderstandings and discussions were frequent, but after a year the group had created its own norms and values, every individual was accepted and appreciated as a positive feature of the team. Discussions were always frequent, but with time they became more and more constructive. The team ended up being very creative and successful.

We argue in this paper that the most effective solution for building and spreading intercultural competence is the creation of multicultural project teams at all levels of organisations.

Multicultural teams provide the highest learning potential for intercultural competence. Cooperation and daily work in such teams create tacit knowledge. Diverse teams have intrinsic multiple views and as problems must be discussed until a solution is found, this forces to consider the existence of differences in mentalities and to build consensus. Intercultural learning does not consist in changing one’s own culture, but in understanding that other ways of seeing are also valid and that for effective interaction, a compromise needs to be found.

Anne Bartel-Radic (2006) investigated under what conditions people develop intercultural competencies in a business context. Her findings confirm the strong link between intercultural interaction in a global team and the acquisition of Intercultural competence, while interaction with foreign customers, for instance, does not create intercultural competence. Anne Bartel- Radic explains her results: “simply meeting people from other cultures is far from being a sufficient condition for the acquisition of intercultural competence. The acquisition of intercultural competence is encouraged by positive emotion and the desire to learn. Critical reflection on one’s own culture is also necessary, which means a profound change in mindsets occurs.” In global teams, interaction takes place in a common context, among equal team members, over a long period of time, and it is unplanned. People are forced to open their eyes, to see, to understand that the others exist and that they have competencies. Values eventually change, moving toward elements of intercultural competence, such as tolerance and an acceptance of difference.

Søderberg and Holden (2002) have similar findings, asserting that: “The key engine of learning is the multicultural team, out of whose diversity comes an eclectic set of perspectives, a set of interchangeable lenses.”

Multicultural teams, because of the different perspectives they contain and broader cognitive frame, are also better prepared for problem-solving compared to homogenous groups (Hong, L.& Page, S.E., 2002). For the same reasons, highly diverse teams possess increased creativity and flexibility.

Other researchers have tried to find a direct correlation between team heterogeneity and performance, but the relation seems to be more complicated. Earley and Mosakowski (2000) studied the effects of heterogeneity in trans-national teams through a qualitative field study. The results demonstrate that highly heterogeneous teams (where no clear sub-identities exist) are outperformed in the short term by more homogenous groups but on the long run, the high heterogeneous groups which are able to create a third culture outperform all the others. Thereby, there are two supplementary factors that play an important role: time and the capacity to create a third culture.

A common understanding is constructed over time through interaction, which makes for the group a “community of interpretation”. The third culture or hybrid team culture “consists of an emergent and simplified set of rules and actions, work capability expectations, and member perceptions that individuals within a team develop, share, and enact after mutual interactions.”(Earley and Mosakowski, 2000) This emergent shared culture offers a common sense of identity and facilitates individual and team performance, communication and learning. For this third culture to emerge, the team must have very clear goals and objectives, and these must be shared by all members of the group.

As we have seen, high diversity in business teams presents interesting advantages, but let us analyse the drawbacks of such teams. A common saying states that “too many cooks spoil the broth”, what is the truth in this saying?

Heterogeneous groups certainly are more difficult to manage that homogeneous groups, at least initially. Even language can become an issue, and understanding each other might not always be immediate. Furthermore many basic concepts, such as time or holding a meeting, will need to be clarified, while within a homogeneous group these concepts would be implicit. Roles and responsibilities need to be extremely clear because of possible different interpretations. As Marie-Therèse Claes (2009) noted, Dr. Carol Kovach researches demonstrate that cross-cultural groups represent the most effective groups, but at the same time, they also represent the less effective ones. Diversity can cause lack of cohesion, mistrust and miscommunication. Sub-groups can appear in a heterogeneous group, compromising the team’s identity and in multicultural groups conflict appears to be a logical outcome.

This fault line can eventually be turned into positive. A conflict is a particular form of interaction including destructuration and restructuration and plays an important role in gaining awareness. In this sense, conflict, going with positive conflict management, is seen as valuable and constructive.

Conclusion

Although multicultural teams are more complex to manage than homogeneous teams, they present real advantages for the acquisition of intercultural competencies. Diversity, if correctly managed, appears to be a valuable resource to face our globalised and hypercompetitive business world, and our multicultural societies turn up to be an unsuspected reservoir of talents.

Managing diversity efficiently implies the emergence of a third culture which ultimately defines the team identity and helps to manage the process. Investing in the management of multicultural teams is worthwhile. It will give multinational companies a strategic and competitive advantage, and an excellent return on investment.

Question 1: A _____ is a particular form of interaction including destructuration and restructuration and plays an important role in gaining awareness.

Select one:

a. Ressolution

b. Structure

c. Both a & b

d. conflict

Question 2

Cooperation and daily work in Multi cultural teams create _____knowledge.

Select one:

a. Deep

b. tacit

c. Skilled

d. Sound

Question 3

Diverse teams have____multiple views and as problems must be discussed until a solution is found

Select one:

a. Extrinsic

b. intrinsic

c. Both a & b

d. none of the above

Question 4

Highly diverse teams possess increased creativity and _____

Select one:

a. flexibility

b. Innovation

c. Adaptability

d. Uniqueness

Question 5

multicultural teams are more complex to manage than ____ teams.

Select one:

a. homogeneous

b. Hetreogeneous

c. Both a & b

d. all of the above

Question 6

shared culture offers a common sense of identity and facilitates individual and team performance, and _____learning.

Select one:

a. Networking

b. communication

c. Technology

d. Machine

Question 7

The acquisition of___ competence is encouraged by positive emotion and the desire to learn.

Select one:

a. organizational

b. intercultural

c. cultural

d. both a & c

Question 8

The key engine of learning is the multicultural team, out of whose diversity comes an ___of perspectives, a set of interchangeable lenses

Select one:

a. bunch

b. umbrella

c. skill

d. eclectic set

Question 9

____on one’s own culture is also necessary, which means a profound change in mindsets occurs.

Select one:

a. Critical reflection

b. Reflection

c. Flexibility

d. Adaptability

Question 10

_____researches demonstrate that cross-cultural groups represent the most effective groups

Select one:

a. Drucker

b. Fayol

c. Dr. Carol Kovach

d. Dr.Keith

10/10

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4th Module Assessment

It present the inter-religious conflict related to the Temple Mountain in Jerusalem, involving Jews and Muslim. Two questions will be at stake: the sovereignty on the place, and the right of archaeological digging.

The origin or the reasons of the conflict are bounded with the name that Muslim and Jews give to that place. The Temple Mount is the Hebrew name and indicates the place where the holy Temple of Jerusalem was placed, before its disruption in 70a.C. According to Jewish the Messiah will come back and re-build the temple. No Jewish can enter the Temple Mount for two precise reasons:

(1) to enter the place of the Temple a Jewish must make a sacrifice first, but since the Temple has been destroyed and the priests class does not exist anymore (priests gave services only in the Temple of Jerusalem, the only Jewish temple), a Jewish cannot be purified and enter the area;

(2) while walking on the Temple Mount could happen that a Jewish step on the place where once there was the “Saint of Saints” room, the holiest place of the Temple where is present the Spirit of God. Stepping on it is a terrible sin. For Jewish that is the place of the Temple and the fact that nowadays there are to Mosques is only temporary.

The Name of the Place according to Muslims: the Noble Enclosure In Arab the name of the same place can be translated as the Noble Enclosure (il Nobile Recinto), and it means the enclosure containing the two mosques: Al aqsa and the Dome of the Rock (la Cupola della Roccia). For Muslims, the place is holy because Mahomet has done a night trip from Mecca to Jerusalem and according to a non Koraninc text rose to the sky and talk to angels.

For the Waaqf, the board for the administration and the custody of Islamic holy places, that place is the mount of the Mosques, furthermore, the Waaqf claims that the Jewish Temple was NOT situated there and that the Noble Enclosure is a holy place only for Muslim.

Archaeology as an Ideological Tool

These standpoints bring to continuous inter-religious tensions. Archaeology has a big role in this difficult situation. In fact, the first question arising is “What is there, under the ground?” Before starting exposing the interconnected situation of the archaeological sites in the area, it has to clarify that in Israel and in Palestine archaeology is used as an ideological tool, that is whoever digs, he/she digs to find its own evidence and to cancel the evidence of the opposite part.

Now, let us try to tackle the conflict from an archaeological point of view. Most of the archaeologists’ community assumes that that is the actual place of the Temple; however, the topography of the Ancient Jerusalem is not completely clear. The argument defended by archaeologists is that the Mount is the most plausible place for the Temple. However, to have the certainty of this the only way would be to dig and discover the ruin of the Temple.

But carry on an archaeological project is impossible because no one has the right to do it and it would cause a re-exacerbation of the Israeli- Palestinian conflict. To complicate the situation, the area of the Mount is part of Israel, but it was conquered during the war of the 6 days, therefore officially is an “occupied territory”. Therefore its statute is not defined. The block is a Jewish block, however on the mount, there is Palestinian police, people (not Muslims) can enter the Mount but not the Mosques. Although Israel retains formal sovereignty over the Temple Mount, the site is governed by an Islamic trust that allows non-Muslims to visit the compound during limited hours and prohibits Jewish or Christian worshipers from reading prayers aloud.

The international community decided that no one has the right to dig in the area, nor the Palestinian or the Israeli. However, no one respects this decision and everyone digs in secret.

An Explosive Debate

To understand the explosiveness of the situation let us think to the last straw that causes the second intifada in 2000. On September 28th, 2000 Sharon “had a walk” with 1000 policemen on the Mount. In those days there was the rumour that Muslims were digging in secret on the Mount. The Sharon’s walk had a specific meaning: stop digging because we are the owners of this land. This was the start of the second intifada.

The problem of archaeological digging is now exacerbating once more. Israeli dug already along the perimeter of the Mount there is an archaeological site around the Mount. Now a new catwalk has to be built, and the Muslims accuse the Jewish to be digging under the Mount. The tragedy is that each one when digging throws away everything belonging to the other culture.

The proposal of the Vatican

In this difficult situation, the Vatican suggested a proposal to solve the conflict, proposal that was accepted by the entire international community. The proposal suggested considering Jerusalem as an extraterritorial zone, to be ruled by the UN. According to this proposal, the archaeological work should have been carried on by a third party.

Both Israeli and Palestinian did not accept the proposal: the value at stake is the sovereignty on the area, more than the willingness of knowing what actually lay under the ground. It is at this point that the religious discourse overlaps with the political one. However, I will not try here to divide the two, since, as we have been told throughout all the master curriculum, splitting politics from religion is a characteristic of the Western culture, and it is an attitude not shared in many parts of the world, and certainly it is not shared by the Islam thought. The issue is even more complicated since the power to decide about the Mosques is not a right of the Palestinian but of Islam in general, therefore Palestinian on the particular case of holy places do not have the power of negotiating.

In regard to the state of Israel, that is a laic state, it can be said that it is a laic state of Jewish, and the Jewish identity is grounded on religion.

As I said, the proposal was not accepted by the parties and, without a previous agreement between the parties, UN blue helmets cannot be sent in a country.

Question 1: Argument defended by archaeologists is that the Mount is the most ___place for the Temple

Select one:

a. Holy

b. Pure

c. plausible

d. Boyh a & c

Question 2

Israeli dug already along the perimeter of the Mount there is an___ site around the Mount

Select one:

a. Old

b. beautiful

c. archaeological

d. New

Question 3

Noble Enclosure In Arab means the enclosure containing the two mosques: Al aqsa and the ____of the Rock

Select one:

a. Square

b. Rectangle

c. Dome

d. Both a & b

Question 4

On September 28th, 2000 Sharon ___ with 1000 policemen on the Mount.

Select one:

a. had a walk

b. Interacted

c. Walked

d. Both b & c

Question 5

Splitting politics from ____is a characteristic of the Western culture

Select one:

a. Culture

b. Caste

c. nationality

d. religion

Question 6

The Sharon’s walk had a specific meaning ____

Select one:

a. Stop

b. stop digging

c. Prayer

d. Almighty

Question 7

The Temple Mount is the ___name

Select one:

a. Saint

b. Hebrew

c. Both a & b

d. none of the above

Question 8

The tragedy is that each one when digging throws away everything belonging to the ____culture.

Select one:

a. other

b. Different

c. Unique

d. all of the above

Question 9

The value at stake is the___ on the area,

Select one:

a. sovereignty

b. Holy

c. New

d. Culture

Question 10

____room, the holiest place of the Temple

Select one:

a. Saint

b. Holy

c. Pure

d. Saint of Saints

10/10

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5th Module Assessment

INTER-RELIGIOUS CONFLICT

The fact that it became possible for women to become a priest was one of the biggest changes in Lutheran church for the last few decades. Nowadays there is all the time more and more parishes are accepting women as priests, but in fact, there are many problems still. In Finland, women were accepted in the year 1996, and at the moment an average of 27% of the priests are women. Even this issue has formally been accepted; it is still a topic of argumentation.

Twenty-one years after the Lutheran Church of Finland allowed women to become pastors or priests, a small but vocal group of male clergy remained opposed to their ordination, embarrassing the Church as it tries to halt declining membership.

The problem is not anymore should a woman be a priest, the problem is what we can do about the people who are against women as a priest? And what to do with the priest who does not want to work with the woman priests? Also in the media, this has been an issue, and for example, some men working as a priest have been fired for not working with a woman priest. The issue has gone so far that one priest who was a man, decided to change his gender in Eastern-Finland and got fired after returning to work as a woman. Additionally, several female pastors also filed police complaints about discrimination.

The problem seems small, but in fact, because the Scandinavian, and especially the Finnish culture is so equal the gap between church´s opinion and the way culture sees the situation is huge. There have even been people who have decided to leave the church because a woman was a priest, but still, for them, it is normal to have a woman as a president. This issue is sensitive, and inside of the religion, it has raised up a lot of problems.

When thinking about the near future, Lutheran Church will have problems, because, for the last year’s students who have graduated from being a priest, half of them have been women. So the inter-religious conflict continues should the Lutheran church loose people from the parish because some women want to be priests or should they start campaigns to support women a priest. According to the association “The Free Thinkers,” who have created a website in which people withdraw from the Church, every time the debate on women pastors comes up in the media the number of withdrawals increase. Some 100 people a day have withdrawn their church membership in recent weeks.

There is a long in equality for the Lutheran church in Scandinavia because the level of the normal equality is so high. The value positions at stake are that the church might lose members, the culture and the church will disagree and create a big conflict between opinions, and maybe for the universities to stop educating so many women to be a priest because the church might not be able to give them work. Because it has already happened that people leave their parish and change to another where there is a man priest.

MEDIA AND CHURCH

Because there is a huge gap between the ideologies of the church and the normal culture, there are nowadays groups of women priests, and they are very intensive and even aggressive sometimes. They want to keep alive the ideology that woman is not meant to be a leader, and this is again the topic what the normal society does not understand. It was expected that when time goes by, the new generation will accept the women priests and the problem will disappear, but it ever happened. The groups which do not accept women priests are active and alive still after 20 years.

Media has raised up so much the issue of women priests that it seems now that Media has increased the number of the people who are against and Media has made it easier for these people to meet and create groups. Even nowadays the churches and parishes need publicity, the publicity which they have gotten has made the situation worse. To be able to talk about this issue in media, the church has to play with the rules of media. And the Lutheran church hasn’t been able to express themselves, and meanwhile, in the media, the people against women priest have raised up discussions to get more people to their side.

SOLVING THE INTER-RELIGIOUS CONFLICT

The problem is hard to solve because most of the people living in Finland, for example, are used to equality and support even the president to be a woman. The problem is more related to the case that people who do not accept women priest do not take it because of the Bible, and this is an issue which is hard to change, their beliefs. In the case, Media would start promoting women priests and show that they do their job as well as the men it might get better. Moreover, the Media should stop interviewing the people against women priests and start supporting the women priests in order the Finnish culture and church to co-exist. Solving these problems and issues might take even a decade, but it is possible with the help of Media and for the young generations to be as equal in their religion as they are in their daily culture.

CONCLUSION

A century ago, Finland became the world’s first state to grant women full voting rights. It is one of the most gender-equal countries in the world. Finland has a woman as a president and also the world’s most female-dominated cabinet. Still, the inter-religious conflict is related to women working as a priest and pastor. The problem seems ridiculous but is in fact complicated.

All in all my opinion to solve this issue is for everyone in the Lutheran church to remember that we all have the option to choose our opinions and religions, but we have to respect the fact that Scandinavia and Finland are equal countries and our culture accepts women as priests. It is natural that everyone does not agree. If the problem will not solve shortly, maybe it would be a good idea to start establishing parishes with women priests only and other parishes with men as priests. But again this would fight with our culture of equality.

Question 1: Finland and the whole Scandinavia are extremely equal countries towards __

Select one:

a. men

b. women

c. Both a & b

d. none of the above

Question 2

Finland became the world’s first state to grant women __

Select one:

a. full voting rights

b. Voting Rights

c. half voting rights

d. Both b & c

Question 3

Finland has the world’s most ___ cabinet

Select one:

a. male dominated

b. Gender equal

c. Biased

d. female-dominated

Question 4

Groups which do not accept women priests are active and alive still after __

Select one:

a. 20 years

b. 23Years

c. 25 Years

d. 19 years

Question 5

Huge gap between the _____of the church and the normal culture

Select one:

a. Culture

b. Norms

c. Ideologies

d. Beliefs

Question 6

Inter-religious conflict is about women working in the profession of a _____

Select one:

a. Saint

b. priest

c. Both a & b

d. Only b

Question 7

The issue has gone so far that one priest who was a man, decided to change his gender in ___

Select one:

a. Eastern-Finland

b. Western-Finland

c. Northern Finland

d. Southern-Finland

Question 8

The value positions at stake are that the church might lose members the culture and the church will disagree and create a big conflict between ____

Select one:

a. perception

b. thoughts

c. opinions

d. beliefs

Question 9

women to become a priest was one of the____ in Lutheran church for the last few decades

Select one:

a. Change

b. Drastic Change

c. biggest changes

d. Challenge

Question 10

______who have created a website in which people withdraw from the Church, every time the debate on women pastors comes up in the media the number of withdrawals increase

Select one:

a. Media

b. Advertisement agencies

c. both a & b

d. The Free Thinkers

10/10

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Assignment 2

This is about a conflict which has been going on in Finland and also in Sweden. This inter-religious conflict is about women working in the profession of a priest. The Lutheran church in Scandinavia has had a conflict which got quite large in the past few years. Finland and the whole Scandinavia are extremely equal countries towards women, and the problem related to that because the church couldn’t agree on the same level than the culture of the countries. This became a conflict because the culture is so equal, but the church is not able to stay in the same level of equality. The reason I chose this topic, is because it’s quite resent conflict and also it is related to culture. Of course, there are much worse inter-religious conflicts around the world, but as Scandinavia is really peaceful, this is an inter-religious problem which we have had in the near future.

On March 17th, 2008 Switzerland’s Elektrizitätsgesellschaft Laufenburg EGL signed a 25- year contract with the state-owned National Iranian Gas Export Company NIGEC for the delivery of 5,5 billion cubic meters of gas per year. Joachim Conrad, the member of the executive board within EGL named the deal a milestone for the natural gas business of the company. As he declared in a media release: “Natural gas from Iran is necessary to the opening of a fourth gas transportation corridor to Europe”1. The signing of the contract took place in presence of representatives of the two governments, Iranian Prime Minister Mahmoud Ahmadinejad, foreign minister Manuchehr Mottaki and Swiss foreign minister Micheline Calmy-Rey. International newspapers reported on the huge deal worth between $28 billion and $42 billion2. Iran State Television showed the meeting between Ahmadinejad and Calmy-Rey, both laughing, her wearing a Muslim veil. The contract had required a long preparation time for EGL. Early in the stage, the company asked for help from the Swiss government to accompany the negotiations.

The successful deal didn’t stay untouched for long. On the same day as international newspapers reported on the happenings, the US-department for foreign affairs made an intervention. It questioned if the deal didn’t possibly violate the UN Security Council resolutions over the Iranian uranium-enrichment program. One day later, Jewish organisations followed. As Jerusalem Post titled: “Swiss selling principles for Iranian gas”. Israeli administration officials called the business deal an “unfriendly” act towards Israel. “Iran assists extremist organisations, tramples human rights and it denies Israel its right to exist”, Israel’s Rafi Barak, director-general in charge of Israel’s Western European department, said in a meeting with Swiss ambassador Walter Haffner. Shortly after, the World Jewish Congress placed its critic as well and called the deal a “propagandistic triumph for the mullahs”. Micheline Calmy-Rey laughing and wearing a veil was interpreted as a sign of taking sides. Only two days after the contract was signed it looked like it was becoming already unstable. The US claimed the contract to examine the content according to the UN-sanctions.

In Switzerland, too, the case met with severe criticism. The Swiss conservative party SVP even placed an ad in newspapers showing the socialist politician Calmy-Rey wearing the veil, sitting in a chair under the picture of Ayatollah Khomeini, a photograph that was taken during the meeting of the two governments in Teheran. The latest accusation comes from the US-Jewish organisation Anti-Defamation League ADL. An ad that was placed in several international newspapers accuses Switzerland of supporting and financing terrorism.

In the wake of these large international critics, the gas deal, which was so carefully prepared and which is highly important for Europe’s energy supply is put in danger.

The Company

EGL is a European energy trading company, member of the Swiss AXPO Group. It trades in electricity, natural gas and energy-related financial products. Through its subsidiaries, the company is present in major European markets. Besides its trading activities, EGL holds interests in Swiss power plants and owns a gas-fired combined-cycle power plant in Italy. The gas division is relatively new for the company. It started only in 2003 to implement natural gas activities as an additional business field. Increasing demand for natural gas throughout Europe has led to this decision.

The Gas deal with Iran is not a single project within this region. EGL is the developer of the Trans Adriatic Pipeline, also known as TAP. This project consists of the building of a enormous pipeline from the Caspian and the Middle East into Western Europe. To realise this gigantic project EGL has established an equally owned joint venture with Norwegian StatoilHydro to develop, build and operate the TAP. Next to gas from Russia, the North Sea and Northern Africa TAP will open a fourth transportation corridor for gas trading. It is supposed to diversify natural Europe’s gas supply and equally minimise dependence from Russia. Many European countries will benefit from the pipeline and therefore the project is co-financed by the European Union.

Hence, the gas deal with Iran is just a first important step to guarantee gas resources for Europe. According to EGL, negotiations for the deal took a long time. Early in the stage, the Swiss government was involved since the Iranian partners belong to a state-owned company. Connections had to be built and since Switzerland’s government already had the contacts to Iranian administration circles it was only consequential, to involve high-rank Swiss officials.

Question 1: EGL has established an equally owned joint venture with ___to develop, build and operate the TAP.

Select one:

a. America

b. Norwegian StatoilHydro

c. Seilt

d. Sessro

Question 2

EGL holds interests in Swiss power plants and owns a gas-fired combined-cycle power plant in __

Select one:

a. Paris

b. Italy

c. Rome

d. UK

Question 3

EGL is a European energy trading company, member of the Swiss ____Group

Select one:

a. APXO

b. PXAO

c. AXPO

d. OPXA

Question 4

Israeli administration officials called the business deal an _____ act towards Israel

Select one:

a. Friendly

b. Unknown

c. Both a & b

d. unfriendly

Question 5

Joachim Conrad, the member of the executive board within EGL named the deal a milestone for the__ business

Select one:

a. natural gas

b. NIYH

c. CGEA

d. GINS

Question 6

Natural gas from Iran is necessary to the opening of a___ gas transportation corridor to Europe

Select one:

a. Second

b. fourth

c. First

d. Third

Question 7

The signing of the contract took place in presence of representatives of the ____governments, Iranian Prime Minister Mahmoud Ahmadinejad, foreign minister Manuchehr Mottaki and Swiss foreign minister Micheline Calmy-Rey.

Select one:

a. Three

b. One

c. Four

d. two

Question 8

The US claimed the contract to examine the content according to the_____ -sanctions.

Select one:

a. UK

b. Europe

c. UN

d. Asia

Question 9

witzerland’s Elektrizitätsgesellschaft Laufenburg EGL signed a 25- year contract with the state-owned National Iranian Gas Export Company __

Select one:

a. NIGEC

b. NIYH

c. CGEA

d. GINS

Question 10

__director-general in charge of Israel’s Western European department

Select one:

a. Israel’s Rafi Barak

b. Rafi Muhammod

c. barak Ismail

d. Israil

10/10

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Global Business Operation (EDL 413)-Semester IV

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Global Business Operation (EDL 413)-Semester IV

1st Module Assessment

Case Study

A Cadbury Schweppes Case

Why did Cadbury Schweppes choose Poland as its point of entry into the Central and Eastern European confectionery markets? Because there was a number of significant developments taking place there.

The Central and Eastern European countries can be divided into two groups: those which fell originally within the Soviet Union, and others.The key difference is that the countries within the latter group only had communist regimes for 45 years and free enterprise still existed to some degree.

The four most advanced countries within this group were Poland, Hungary, the Czech Republic and Slovakia, of which Poland had the largest population and percentage of private sector business, as well as a strong consumer market. It also had good prospects for investment, offered a skilled labour force and faced neither ethnic strife nor border disputes.

Having developed a stable parliamentary democracy and signed an association agreement with the European Union, Poland recognised that to shed its former communist image and face market forces with a proactive, commercial approach would require major changes in its culture and attitude. One way in which it could do this was to encourage development in Poland by its European partners, and Poland already had a good relationship with the UK, which has a Polish community of some 150,000.

These rapidly changing political, economic and social factors were key influences in Cadbury Schweppes’decision to enter Poland’s developing market. Another strong factor was that, despite Poland having, at that time, one of the largest confectionery markets in Central and Eastern Europe, none of Cadbury Schweppes’ major international confectionery competitors had established strong businesses there.

Although the Company could have taken a ‘wait and see’ approach (running the risk of missing a vital opportunity to develop an early market lead), it decided that there were sufficient indicators to justify an investment in Poland.

Cadbury Schweppes had three ‘route to market’ options to consider in order to respond to Poland’s market needs. The options were:

• export from other Cadbury Schweppes companies

• acquire or form a joint venture with a local Polish company

• establish its own factory locally.

When Poland first left the communist regime the government pursued a policy of open trade which resulted in a flood of imports. To protect local industry the Polish government established import duties which were particularly high on goods such as confectionery.

Under these conditions, exporting to Poland was not an economically viable option to Cadbury Schweppes. Cadbury Schweppes evaluated the leading Polish confectionery companies to assess their suitability for acquisition or joint venture. However, several problems, such as over-staffing or lack of investment, were found to be common across all of them.

So, having rejected the first two options, Cadbury Schweppes decided to explore local manufacture as the most appropriate route into the Polish market.

Although the confectionery market in Poland was known to be large, market research was conducted to determine whether that market would be suitable for Cadbury Schweppes’ products.

Tastes in confectionery vary the world over and Cadbury chose to manufacture products from its existing range which would particularly suit the Polish taste. It also decided to manufacture a range of budget-priced products under the name of Piasten, Cadbury Schweppes’ brand in Germany.

Having identified the product range and its acceptability to Polish consumers it was then possible for Cadbury Schweppes to forecast the potential sales which could be achieved in Poland.

This information, together with estimates of the costs involved in setting up and running the manufacturing operation, enabled the Company to determine that the project was financially viable. In 1993 Cadbury Schweppes took the decision to invest more than £20m in building a factory and developing a new confectionery business on a greenfield site in Poland.

Cadbury Schweppes began by visiting Poland to evaluate sites in several locations to improve its understanding of the Polish infrastructure and administration procedures, and to assess the general employment situation and skills availability.

The decision to develop a greenfield site at Kobierzyce, near Wroclaw in south west Poland, was based on a number of criteria:

• overall cost

• geographical location

• climatic conditions

• availability of mains services

• access to highways and trunk roads

• distance from competitors

• large regional population.

A further factor was people. Cadbury Schweppes would be joining a local community and would work closely with the local mayor and his staff at Kobierzyce, who welcomed the new investment.

It is not an easy task to build a factory in a foreign country. It requires careful co-ordination and considerable expertise.

Cadbury Schweppes appointed a team of engineering consultants to oversee all stages of the project, from selection of the contractors via a process of tendering, through to the completion of the factory construction.

The construction process was extremely challenging as the factory and offices, covering 9000 square metres, had to be completed, and production ready to start, within one year in order to meet the confectionery selling season of autumn to spring.

Time was not the only challenge. Temperature within a chocolate manufacturing plant is a major consideration in a country such as Poland, where the weather varies from -15 degrees C in winter to 33 degrees C in summer. The air conditioning, refrigeration and heating of the plant were key issues, all of which had to comply with local quality, hygiene, safety and environmental standards. The local community also had to construct water pipes, electrical power lines and telephone lines to the factory, and all were completed on time.

Building a factory is only one step in the implementation of a production facility. It is important to consider how it will operate, what production techniques it will use and what products it will manufacture. Cadbury Schweppes formed a technical team to design, engineer and procure all of the process plant and machinery required for the manufacture of the chosen product range. Also required is a team of company experts who specialise in the business of making chocolate and who understand the technical complexities of making quality products. Just as there are challenges in building a factory in an unfamiliar country, so there are challenges in filling all of the jobs necessary to run that factory.

A recruitment strategy had to be designed to meet those challenges: Should Cadbury Schweppes transfer expatriates to Poland? If so, how would they cope with the language barrier and the fact that there were no local English-speaking schools for expatriates’ children to attend? Could quality local candidates be found? If not, would potential managers relocate to Wroclaw from Warsaw and other major cities? How important was experience within Cadbury Schweppes versus knowledge of the Polish market? Cadbury Schweppes’ human resource management strategy for the Polish project was to identify local candidates wherever possible. This would give Polish individuals a sense of freedom to manage their business within a familiar environment and according to local needs, supported by resources and experience from other parts of the Cadbury Schweppes global company.

However, there was a known shortage of experience locally, particularly in the finance and marketing functions, so the company anticipated that it would need to have a fair amount of expatriate involvement, particularly in the early stages of getting the Polish business operational.

A multi-disciplinary team was formed to:

• identify the key management roles to be filled within the Polish operation

• devise a recruitment plan to attract the best quality candidates

• prepare an induction and training process for new employees.

A structure for the top management team was devised. Job descriptions were then written for the key management roles. To do this, decisions about the degree of functional expertise required had to be traded off against knowledge of Cadbury Schweppes and its operations, local Polish experience and general ‘know-how’.

A recruitment consultancy was then chosen to identify a shortlist of candidates for the key positions. The consultancy used a combination of headhunting (where candidates are approached on a company’s behalf) and job advertisements in Poland and the UK. Bearing in mind that Cadbury Schweppes was new to Central and Eastern Europe, this was very much a learning process for the team members concerned, as they knew little about Polish recruitment practice or what to expect in terms of quality and experience of candidates.

Some interviews were conducted via an interpreter, which added another level of complexity to assessing candidates. And, before making offers of employment, research was carried out to determine the salary and benefit levels which would attract the best candidates to join the company. The final decisions on recruitment were taken by the European Managing Director and the Managing Director of Cadbury Schweppes’ German company, Piasten, who would be responsible for overseeing the development of the Polish company.

Development of an induction plan ensures that new employees deliver effective work performance as quickly as possible after joining the company. As part of its induction plan for the Polish operation, Cadbury Schweppes brought key Polish employees to the UK to provide an overview of the Group’s global operations, an introduction to the company’s philosophies, values and history and then the confectionery industry and Polish market. The Polish team was also introduced to colleagues established businesses elsewhere in the Group, who would be able to provide information and advice when needed.

In new ventures such as this, there is a real demand for company knowledge and experience, particularly in the early stages of development. Such opportunities are often taken up by existing Cadbury Schweppes managers who are encouraged to move internationally within the Group to gain wider experience, while transferring their knowledge newcomers.

Cadbury Schweppes offers a series of career programmes for junior and senior managers to gain such experience and managers from the Polish business are already moving elsewhere within the Group!

A new business brings many benefits to the local community. One of the benefits derived from this project was that the funds generated by the sale of land to Cadbury Schweppes helped to enable a new school to be built in Kobierzyce.

Another key benefit was that, in an area of high unemployment, local applicants secured many of the factory jobs. Cadbury Schweppes is also committed to actively contribute to the communities in which it operates and to improve the environment in which people live and work. Its operating units support community activity through locally targeted programmes throughout the world. This may include financial support, commercial sponsorship and the provision of local facilities.

Question 1: Building a factory is only one step in the implementation of a___ facility

Select one:

a. operation

b. manufacturing

c. production

d. both a & b

Question 2

Cadbury Schweppes had___ ‘route to market’ options to consider in order to respond to Poland’s market needs

Select one:

a. three

b. four

c. eight

d. six

Question 3

Cadbury Schweppes offers a series of career programmes for__ and senior managers

Select one:

a. senior

b. new joinees

c. junior

d. All of the above

Question 4

Company could have taken a __ approach to develop an early market lead

Select one:

a. wait and watch

b. watch and wait

c. see and wait

d. wait and see

Question 5

Development of an ____ plan ensures that new employees deliver effective work performance

Select one:

a. orientation

b. induction

c. both a & b

d. none of the above

Question 6

Temperature within a chocolate manufacturing plant is a major consideration in a country such as Poland, where the weather varies from -15 degrees C in winter to __degrees C in summer

Select one:

a. 33

b. 42

c. 32

d. 32

Question 7

The consultancy used a combination of headhunting and job advertisements in ___and the UK

Select one:

a. Poland

b. Europe

c. Hongkong

d. Germnay

Question 8

The decision to develop a greenfield site at Kobierzyce, near Wroclaw in south west Poland, was based on a number of criteria:

Select one:

a. overall cost

b. geographical location

c. climatic conditions

d. All of the above

Question 9

The final decisions on recruitment were taken by the___ and the Managing Director of Cadbury Schweppes’ German company, Piasten.

Select one:

a. Managing Director

b. European Managing Director

c. Manager

d. All of the above

Question 10

These rapidly changing political, economic and social factors were key influences in __Schweppes’decision to enter Poland’s developing market.

Select one:

a. Dairy milk

b. Schmittens

c. both a & b

d. Cadbury

10/10

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2nd Module Assessment

Case Study

A UNISON case study

UNISON is Britain and Europe’s biggest public sector trade union, representing more than 1.3 million members working in public services. Job roles they represent in the public sector include, for example:

• librarians

• Human Resources, IT and finance workers

• teaching assistants and early years nursery staff

• secretaries

• cleaners, caretakers and school meals supervisors

• care workers, social workers and nurses.

UNISON campaigns on a variety of issues relevant to its members. Currently, it is running the Migrant Workers Participation Project. This campaign focuses on the issues faced by migrant workers in the UK. Migrant workers are employees who have moved from overseas to the UK to find work. They form an important and growing part of the workforce in both the private sector and public sector.

These workers are at particular risk of being exploited in the workplace. This may be due to lack of knowledge of their rights, their limited command of the English language and the fact that they are often reluctant to complain about their treatment by employers. They may also be exploited because of racist attitudes. UNISON believes that the best way of preventing exploitation is through trade union representation in the workplace. One of the objectives of the current UNISON campaign is to increase the number of migrant workers who are part of the union.

When making decisions, a business needs to take account of internal and external factors:

• Internal factors are ones that are within its control. Examples include how many staff the business employs, the number of machines it uses and how much money owners choose to invest in the business.

• External factors are those that are outside of its control. These may be direct or indirect influences. Direct influences include suppliers, customers and competitors. Indirect influences include legislation, the economy or technology.

These external influences are summarised by the mnemonic PEST. This stands for Political, Economic, Social and Technological influences.

UNISON looks at a range of issues to assess the external factors it needs to take account of when considering the needs of its members. UNISON considered these factors when setting its aims and objectivesfor protecting the rights of migrant workers. An understanding of many external factors helped it to decide which strategies and tactics were best for achieving these objectives.

Political factors include government policies, legislation and foreign influences, particularly from the European Union (EU). Several political factors surround the issue of immigration. Legislation on immigration comes both from the UK government and from the EU. For example, workers from all EU countries, except Romania and Bulgaria, have the right to live and work in the UK. Since the expansion of the EU in 2004, around 700,000 Polish workers have registered to work in the UK, boosting the UK workforce, enabling the economy to expand.

Immigration is an emotive issue, which often generates sensational headlines in tabloid newspapers. These include allegations that migrant workers ‘take’ British jobs or that they ‘undercut’ pay levels, working for less than British workers. The data available does not support these allegations. UNISON believes that if migrant workers are part of a trade union membership and can benefit from properly negotiated pay rates, this type of misinformation will not arise.

As part of its campaign, UNISON aims to dispel the negative views on migration. Migrant workers play an extremely important role in providing many needed services. This provision would not be possible without migrant workers. Government statistics prove that the overall effects of net migration into the UK have been positive for UK businesses and the economy.

In areas of high migrant populations, there are greater pressures due to, for example, insufficient housing and health provision. The migrant workers population is not evenly spread across the UK – the majority of migrants are in London and the South East, according to government statistics.

In addition, because of the short-term nature of much of the work, the pattern of migrant workers is not easy to track. Government and local authorities need to be able to invest in services sufficiently quickly to meet the demand. It is important to understand that the same pressures on services would occur if large numbers of UK workers suddenly moved to an area.

One of the most important political factors in UNISON’s external environment is employment legislation. UNISON aims to ensure that these laws meet the needs of workers by lobbying the government when it feels the law needs changing. In a recent report, the Trade Union Congress (TUC) found that many employers were ignoring employment law. Some companies were not paying their workers the minimum wage, while others forced workers to work longer than legally permitted under the working time directive. It can be very difficult for migrant workers to get legal advice when they have problems at work. This is partly due to language barriers. Many also fear losing their jobs if they complain.

Like other low-paid workers, they rely on legal advice, paid for by the government through legal aid. Reduced funding for legal aid and for immigration advice in particular has resulted in fewer solicitors taking on legal aid cases. Many migrant workers seeking help have been turned away. As a result, UNISON has put in place legal advice and information services to help migrant workers understand their rights

Most migrants come to the UK from countries that are less economically developed. They can earn a better wage in the UK than in their home country. For example, the average monthly salary in the UK in 2007 was almost £2,500 whereas in Poland it was £500. This difference in wages allows the migrants to enjoy an improved standard of living. The migrant workers are also able to send money back to their families who remain in their home countries.

However, as well as the economic benefits migrant workers receive themselves, they are also an important part of the UK economy, both in public and private sectors. According to government figures, the working output of new migration adds 0.5% to the country’s Gross Domestic Product (GDP). In 2006, this was equivalent to adding an extra £6 billion to the economy.

One of the reasons why migration improves the economy is that it increases the size of the total labour market. Migrant workers to the UK replenish a decreasing workforce. In 2006, 400,000 people left the UK and 590,000 people arrived, 157,000 of these came to study. Migrant workers fill several areas of the labour market where there are skills shortages or they do jobs that people in the UK do not want to do because the working conditions may be poor or wages low. Often migrant workers are ‘de-skilled’ because they take work in different industries at a lower skill level than the one for which they are qualified. These industries include agriculture, hospitality and food packing.

Many business leaders express the view that migrant workers often have a more positive work ethic than domestic workers. Employing workers who not only have the necessary skills but who are also keen to work allows many businesses to achieve a competitiveadvantage. UNISON recognises the benefits to the economy that migrants bring. It has worked hard to ensure that workers receive fair pay and valid career opportunities to keep attracting migrant workers to the UK.

A number of social factors have increased the flow of workers into the UK. Many migrants moved to the UK to improve their standard of living. Social factors in the UK also contribute to the demand for migrant workers in the UK. The UK has an ageing population. Without immigration, the labour force would be shrinking. As a result, there is a smaller labour force supporting the growing population of retired workers. This is forecast to get worse over the next 20 years. There are also specific vocational areas where the UK has a skills shortage. For example, 16% of all care workers are migrant workers. These workers are skilled workers who have trained in their home nations. Without them, the range of care provision would be less.

Many social issues may affect migrant workers whilst they are in the UK. For example, UNISON is aware that many migrant workers have difficulty communicating in English. This creates problems with understanding important documents such as contracts of employment, company rules and notices. Migrant workers are often unaware of their rights in the workplace.

The language barrier also affects migrants outside the workplace. It causes difficulties in shops, accessing housing and education and understanding the welfare system. Not being able to understand cultural issues such as behaviour and customs is another big factor. Together these problems make many migrant workers feel socially excluded from English-speaking co-workers.

UNISON has helped many migrant workers overcome these issues in different ways:

• It produces workers’ rights leaflets in 11 different languages.

• It also works with community groups like the ONNS (Overseas Network of Nurses in Scotland). These groups provide advice and social communities for overseas workers.

• UNISON has provided information on welfare and tax so workers can understand what they need to pay and any benefits they can receive.

• Recently it has developed a dedicated migrant workers” section on its website where key information is available in a range of languages.

• It is also running ESOL (English for Speakers of Other Languages) courses to help migrant members learn English.

As part of UNISON’s bargaining agenda, it is seeking to make employers aware of the issues that are important to migrant workers. For example, it wants employers to print health and safety rules in other languages and to provide migrant workers with a welcome pack that gives information about local services and sources of information. It also aims to persuade employers to provide paid time off and pay course costs for workers attending language courses. Because migrant workers are better able to identify the bargaining issues that are important to them, UNISON believes it is important for them to be members and actively involved in the union.

Changes in technology, including a rise in automation in the workplace and the development of the internet, have transformed the way in which many businesses work:

• Automation of production processes in factories means less-skilled workers are needed.

• The internet has opened up a need for information processing in purchasing and data management areas, for example, in online shopping. Many migrant graduates have come to fill these more specialised vacancies.

• The biggest technological factor affecting migration has been the increased availability and reduced cost of transport. Over 75% of migrants fly into the UK, most using budget airlines.

• Advances in online money transfers enable migrant workers to send money home easily and securely. This makes them more willing to migrate.A United Nations statistic shows that migrant workers send home over twice the amount given in international aid to developing countries.

• Improvements in telecommunications have made it easier for potential migrants to discover what job opportunities are available. Through online chat rooms, they gain information and advice from other migrants from their own country and can keep in contact with friends and family in their home countries.

UNISON’s website is an important means of communicating with members. For example, it has welfare pages providing migrants with information about the benefits they can receive. The site provides access to leaflets in a range of different languages. These give advice on their rights at work and information about health and safety. This greatly improves the livelihood and work experience of UNISON members.

UNISON aims to improve the working lives of migrant workers by increasing their level of trade union representation.

PEST analysis is a useful tool for analysing the external environment surrounding migrant workers. It also helps to identify and understand the reasons why migrants come to the UK and the issues they face. UNISON has worked hard to raise awareness of the economic benefits migrant workers bring to the UK economy.

UNISON greatly supports migrant workers. It has provided them with a range of advice and assistance. This has made it easier for them to settle in the workplace.

UNISON has an ongoing role in persuading employers and the government to implement policies to benefit migrant workers. This has enabled the UK economy to benefit from the increasing number of workers migrating here. Migrants provide an increasingly skilled workforce necessary to maintain the growing number of services demanded by the UK’s growing economy.

Question 1: ESOL stands for English for __ of Other Languages

Select one:

a. Speakers

b. Speak

c. skilled

d. support

Question 2

Improvements in ___ have made it easier for potential migrants to discover what job opportunities are available.

Select one:

a. Media

b. telecommunications

c. Technology

d. Infrastructure

Question 3

Migrant workers are employees who have moved from overseas to___ the to find work

Select one:

a. US

b. London

c. UK

d. Honkong

Question 4

migrant workers are ____because they take work in different industries at a lower skill level than the one for which they are qualified

Select one:

a. de-skilled

b. unskilled

c. skilled

d. unemployed

Question 5

One of the objectives of the current UNISON campaign is to increase the number of ___workers who are part of the union

Select one:

a. migrant

b. actual

c. unskilled

d. both b & c

Question 6

Over___ of migrants fly into the UK, most using budget airlines.

Select one:

a. 78%

b. 74%

c. 74.60%

d. 75%

Question 7

PEST stands for Political, Economic, Social and ___

Select one:

a. Tactics

b. Time

c. Both a & b

d. Technological influences.

Question 8

PEST analysis is a useful tool for analysing___ the environment surrounding migrant workers.

Select one:

a. Internal

b. external

c. Both a & b

d. all of the above

Question 9

UNISON greatly supports ___workers

Select one:

a. uskilled

b. semi-skilled

c. migrant

d. US

Question 10

UNISON is Britain and Europe’s biggest public sector ____

Select one:

a. Union

b. trade union

c. Both a & b

d. None of the above

10/10

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3rd Module Assessment

Case Study

In September 2015, US-based Nike, Inc. the world’s leading designer, marketer, and distributor of athletic footwear, apparel, equipment, and accessories, announced that the sales of its footwear in Greater China had increased by 36% and that of its apparel by 22% during the quarter ending August 2015. The news sent Nike’s stock surging by 9%. Orders scheduled for delivery between September 2015 and January 2016 grew by 30% in China.

Nike projected that its Greater China business would grow at an average of 15% a year to achieve sales of US$ 6.5 billion by 2020 while its global sales would reach US$ 50 billion. Experts said that with the Chinese government mandating sports as a growth category, Nike was all set to grow further in the market. The news of Nike performing well in a country that was undergoing macroeconomic changes and where several other companies were reporting declining revenues came as a surprise to the industry experts…

Nike was founded by a track athlete, Philip Knight (Philip), and a track coach at the University of Oregon, Bill Bowerman (Bill) in 1964. In 1957, Philip was studying at the University of Oregon and it was here that he met Bill who was the athletics coach. Philip and Bill realized the need for a low cost but good quality running shoe. At that time, leading track shoes were being produced by European companies. These shoes were made of leather, had very bad cushioning, and used steel spikes for traction. Philip and Bill started to design shoes that were lighter, better padded, and featured waffle like patterns in their rubber soles. These models didn’t see much commercial success. Later, when Philip was doing his MBA at Stanford University, he did a marketing research dissertation on the US shoe manufacturing industry.

He proposed in his dissertation that low cost, high quality running shoes could be imported from Asian countries like Japan, where labor was cheaper, and sold in markets like the US. Philip was confident that cheaper shoes that were of good quality would be highly successful in the US market and could end the domination of German companies in the industry…

Philip had always thought China was a market which held huge potential for Nike. In the 1970s, when Nike started a subsidiary in Taiwan, it was given Nike’s original name ‘Blue Ribbon Sports’. This was because Philip was not keen on using the name Nike in Taiwan, as China considered Taiwan to be a renegade province.

Nike started manufacturing in China during the 1970s. Philip visited China in 1980, when the country was emerging out of the Cultural Revolution. At that time, Nike’s sales were US$ 150 million and the company was all set to go in for an IPO. At that time, China had not yet become the manufacturing hub for the world and was nowhere close to becoming the fastest growing market in the world. Philip, however, felt that China offered several opportunities, with its low wages and talented manpower. He was of the view that with some up gradation, the factories would be able to produce what Nike wanted. Within a year he started negotiating with the Chinese Communist party. At that time, the government was moving slowly toward economic liberalization. Deng Xiaoping, who succeeded Mao Zedong was looking at doubling China’s GDP by the end of the 1980s…

NIKE FOR CHINESE

Nike’s consumer presence in China started in the 1980s. In 1981, it opened a small marketing office in the country with six employees. It started to make its presence felt in the market by sponsoring several sports related events, including professional leagues. Nike launched professional sporting leagues, and was instrumental in building the American ‘streetball’ culture in China…

NIKE GROWS WITH CHINA

In 2000, top officials of Nike China met to decide on their strategy for the Olympic Games of 2008. At that point, Beijing was competing with other cities – Toronto, Paris, Istanbul, and Osaka – to host the Games. Earlier, Beijing had lost out to Sydney in its bid to host the 2000 Games, and the Chinese government was determined to succeed this time around. This required the International Olympic Committee to select a host city. Each member of the IOC had one vote. The members voted for the cities and several rounds were conducted until one city received a majority of the votes (The city that received minimum votes in each round was eliminated)….

THE FALL

After the Olympic Games of 2008, there was a growing demand for athletic gear and athletic footwear. Several brands invested heavily anticipating high sales, but the demand was short lived, and several companies were forced to close down their stores. ..

THE REJIG

In 2013, Nike adopted the ‘Reset’ strategy in China in order to achieve profitable and sustainable growth and reposition the brand in the market. Under this strategy, Nike applied the insights it had gained from the ‘Category offense’ strategy it had used in the North American market in the Chinese market. This was a part of Nike’s plan to translate its key strategies into locally relevant executions. ..

LOOKING AHEAD

Experts said Nike had managed to turn its fortunes around by repositioning itself as a high-end brand targeting the upper middle class, instead of a mass market brand. They said with the changes in the Chinese economy, those companies that catered to the mass market were struggling, whereas high-end products were gaining ground by finding acceptance among the consumers.

Question 1: Each member of the IOC had ___ vote

Select one:

a. two

b. three

c. one

d. five

Question 2

Nike adopted the___ strategy in China in order to achieve profitable and sustainable growth and reposition the brand in the market

Select one:

a. Market

b. Corporate

c. Reset

d. Niche

Question 3

Nike applied the insights it had gained from the ___ strategy

Select one:

a. insight

b. niche

c. both a & b

d. Category offense

Question 4

Nike had managed to turn its fortunes around by repositioning itself as a high-end brand targeting the____instead of a mass market brand.

Select one:

a. Lower class

b. Middle class

c. Both a & b

d. upper middle class

Question 5

Nike projected that its Greater China business would grow to achieve sales of US$ 6.5 billion by __

Select one:

a. 2020

b. 2021

c. 2022

d. 2023

Question 6

Nike projected that its Greater China business would grow at an average of __a year

Select one:

a. 14%

b. 12%

c. 15%

d. 17%

Question 7

Nike started a subsidiary in Taiwan, it was given Nike’s original name __

Select one:

a. Blue Ribbon Sports

b. Blue bells

c. Yellow ribbons

d. Red ribbon sports

Question 8

Nike was founded by Philip Knight and ___ in 1964.

Select one:

a. Bill jones

b. Bill Bowerman

c. John Davidson

d. Philip stewart

Question 9

Nike’s consumer presence in China started in the __

Select one:

a. 1980

b. 1985

c. 1987

d. 1982

Question 10

Nike’s sales were US$ 150 million and the company was all set to go in for an ___

Select one:

a. OPI

b. IPO.

c. IRO

d. RIO

10/10

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4th Module Assessment

Case Study

Lenovo : Challenger to Leader

Beijing-based multinational technology giant, Lenovo Group Limited (Lenovo), recorded a market share of 16.7 percent in the global personal computer (PC) market in the first quarter (Q1) ended June 30, 2013, emerging as the clear leader in the market, according to both International Data Corporation (IDC) and Gartner Inc. (Gartner). While IDC said that Lenovo had recorded a growth of 15 percent from the Q1 of 2012, Gartner put the growth from Q1 of 2012 at 14.9 percent. Experts said this was the first time that both IDC and Gartner had given the top spot to Lenovo.Founded in 1984 as Legend Holdings Limited, Lenovo sold computer products of branded PC makers such as Dell Inc. (Dell), Hewlett-Packard (HP), and Compaq Computer Corporation in its initial years.

Sensing the potential in the lucrative Chinese PC market, the company started selling its own brand of desktop PCs in 1990 and emerged as the leader in the Chinese PC market in 1996. In 2005, the company acquired the PC division of US-based multinational technology giant, International Business Machine (IBM). This gave the Lenovo brand global recognition in addition to making it the third largest PC maker in the world by volume behind HP and Dell. For the financial year (FY) ended March 31, 2013, Lenovo recorded sales of US$ 34 billion, a Year on Year (YoY) increase of 15 percent.

The history of Lenovo dates back to 1984 when it was started as New Technology Developer Inc., the predecessor of the Legend Group Ltd. (Legend) by Founder and Chairman, Liu Chuanzhi (Chuanzhi) along with ten colleagues at the government-owned Computing Institute of the Chinese Academy of Sciences (CAS) with US$ 25000 in cash. The company was started with the aim of commercializing the research and development (R&D) activities conducted at CAS.

In 1985, as its first business deal, the company took over the responsibility of receiving, checking, and maintaining IBM computers imported by CAS and training the staff of the CAS.

The company invested its profits of US$ 146,583 it received from servicing the IBM computers into the design, production, and marketing of its first product – the Chinese character card – HanCard. The Chinese character card that translated English operating software into Chinese characteristics was based on the original concept developed by the Institute of Computer Technology (ICT) of CAS. At that time, foreign vendors could not come out with such an operating system for PCs in China. The successful launch of the Chinese card boosted Lenovo’s growth in the early 1990s

Globalization Strategies

Lenovo believed that in order to become a global brand, it was not enough to just be identified as a global firm. Establishing a presence in more developed and highly globalized areas such as the US and Europe was essential for Lenovo’s overall strategy. During this time, in 2002, the Chinese government announced its ‘go global’ policy. This policy encouraged Chinese companies that had the capability and expertise to expand abroad.

Lenovo was quick to respond to this government initiative. However, the company soon realized challenges to its global expansion: it did not have a brand name that was recognizable worldwide, a strong presence in the world market, or the human talent to run and manage a global company.

Ruling The China Market

In the 1990s, Lenovo was the first company to introduce the home computer concept in China and grew into a national company cornering a market share of 27 percent in the domestic market. Lenovo’s competency stood in its deep understanding of the domestic market and quick response to local demands of the consumers……..

Protect And Attack Strategy

Despite ruling the Chinese PC market, Lenovo suffered a setback due to the global economic slowdown in mid-2008 which led to Lenovo posting a loss of US$ 226 million. During this time, the company’s CEO William Amelio stepped down in favor of Yuanqing, who took over as CEO, while Chuanzhi returned assuming the role of Chairman

The company’s Protect and Attack strategy started reaping benefits in 2010. The company said that for the FY ended March 2011, its profits had risen to US$ 273 million from US$ 129.4 million in 2010. The company’s global sales also increased by 30 percent to US$ 21.6 billion during the same period. While China contributed to 46.4 percent of its sales, or US$ 10 billion, other emerging markets contributed 17.9 percent, or US$ 3.9 billion. ……

According to a survey in 2009 by Shaun Rein, head of China Market Research Group, on Chinese consumers’ brand perceptions, “Five years ago, consumer satisfaction rates of Lenovo were extremely high–consumers felt proud that China had a global brand in consumer electronics that they felt was better than Dell and HP and closer to the Chinese consumer.” But as Lenovo neglected the Chinese market to focus on other markets from 2006-2009, domestic consumer satisfaction rates began to decline……

In April 2013, Lenovo restructured itself into two business groups – Lenovo Business Group and Think Business Group –in a bid to target mainstream (PC, laptop, and tablet) and high-end segments respectively. According to Yuanqing, the restructuring aimed at streamlining operations and management to better fit the company’s expanding business worldwide. The company positioned the Think brand to compete against Apple and planned to open fancy showrooms like Apple’s.

Question 1: CAS stands for Chinese ___of Sciences

Select one:

a. Association

b. Acquisition

c. both a & b

d. Academy

Question 2

CEO of Lenevo ___

Select one:

a. Ynaguin

b. Yuanging

c. Yuanhiqng

d. Yuanqing

Question 3

in 2002, the Chinese government announced its ___ policy

Select one:

a. Economic

b. Technological

c. go global

d. Both a & c

Question 4

In 2005, the company acquired the PC division of US-based multinational technology giant ___

Select one:

a. TCS

b. Japan

c. International Business Machine (IBM)

d. None of the above

Question 5

Lenovo restructured itself into two business groups – Lenovo Business Group and ___

Select one:

a. Master group

b. Think Business Group

c. both a & b

d. None of the above

Question 6

Lenovo suffered a setback due to the global ___ in mid-2008

Select one:

a. Approach

b. economic slowdown

c. Policy

d. Strategy

Question 7

Lenovo was the first company to introduce the home computer concept in __

Select one:

a. China

b. Japan

c. Singapore

d. Poland

Question 8

The Chinese character card was based on the original concept developed by the ___of CAS

Select one:

a. Institute of Computer Technology (ICT)

b. Government

c. both a & b

d. All of the above

Question 9

The company positioned the Think brand to compete against ___

Select one:

a. Dell

b. HP

c. Apple

d. All of the above

Question 10

The successful launch of the Chinese card boosted Lenovo’s growth in the early ___

Select one:

a. 1990

b. 1998

c. 1894

d. 1992

10/10

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5th Module Assessment

Case Study

Aldi in the UK: Cost Leadership through Operational Excellence

In September 2014, Germany-based discount retailer Aldi announced that its pre-tax profit in the UK and Ireland had increased by 65 percent in 2013 from the £157.9 million it had registered in 2012. Aldi’s share in the retail segment in the UK was 4.8% as of April 2104 and its growing clout was a cause for concern for the ‘Big Four’ retailers – Tesco , Sainsbury’s , Morrisons , and Asda . In addition, Aldi also announced that it would increase its number of stores in the country to about 1,000 by 2022 from 500 in 2014.

Experts said that move was likely to increase the competition further. According to Lloyd Harris, Professor of Marketing, Warwick Business School, “Could the results of Aldi reflect the start of a slow demise for the Big Four? It might just be…If the market trends continue, the Big Four food¬retailers are going to find themselves squeezed.” Aldi was known for its distinctive business practices and was considered a pioneer in discount retailing in Germany. It was the third most respected corporate brand in Germany behind BMW and Siemens.

It operated in several countries in Europe and entered the UK in 1990. Aldi struggled in its initial years in the UK. However, it stuck to its goal of ‘providing customers with the products they buy regularly and ensure that those products are of the highest possible quality at guaranteed low prices’. It started attracting middleclass shoppers in the UK by offering better products at a lower price. The shoppers from the Big Four and other retailers also gradually shifted toward discount retailers, and the basket size of the shoppers went on increasing. The popularity of the chain increased during recession, specifically among the middle class shoppers who were looking for good quality products at affordable prices. …….

Based in Germany, Albrecht Discount, abbreviated as Aldi, evolved over the years from a small grocery store into a leading super market retail chain. It was founded by two brothers, Karl Albrecht (Karl) and Theo Albrecht (Theo). Their father, a miner, had to give up his job owing to ill health. In 1913, their mother started a food store in their family home in Schonnebeck area, Essen, Germany, in order to meet the family’s needs.

The brothers were a part of the Wehrmacht (unified armed forces of Germany) and took part in World War II, during which they were taken prisoner of war. After they returned from the prisoner-of-war camps they found that their mother’s store was among the few remaining structures that had survived the bombings in Essen city, which was razed during the war. The brothers took over the store.

There was a swift growth in their business after that and the two started opening stores across the city selling milk, bread, butter, and other necessary items. The brothers kept the operation of the stores very simple with an uncomplicated layout, limited range of goods in stock, and no extra services. The prices they charged were thus also lower. Albrecht Discount Company was incorporated in the year 1948 and had about 13 stores operating in the Ruhr area. The store’s figures kept escalating to reach 50 stores in 1954…..

Strategies In The UK

Aldi entered the UK in 1990 and opened its first store at Birmingham. At that time, consumers in the UK were not used to shopping at discount stores, which offered a small range of goods (mostly own-brands or private labels). Aldi’s strategy in the UK was to target the gap in the lower segment of the market and compete with discount retailers like Kwik Save. In the UK, as in the other markets, Aldi operated on the principles of standardization, simplicity, and continuous improvement.

Aldi continued with its model of providing high-quality, exclusive products at the lowest possible prices, and maintaining a limited range of products in the UK too. According to company insiders, Aldi managed without budgets and targets. The products to be stocked in a store were not decided by the central marketing department, as was the case with most of the top retailers. Instead, Aldi started new stores with some of the basic products that consumers would need and stocked them on a trial basis. It then took about a year to finalize the list of products.

Unique Business Model Of Aldi

Each Aldi store occupied around 1,000 sq. meters. The stores were located in areas on the edge of town with good visibility. For opening a store, Aldi needed the population of that area to be around 30,000. It ensured that the store was well connected to the public transport and a number of parking spaces were available at the store.The layout was simple to provide a quick and convenient shopping experience. The checkouts were spacious. All the products had bar codes at three places to enable faster scanning and billing. A double guarantee was offered on all Aldi products and the customers could easily get refunds along with a free replacement for their purchases at the stores. Shoppers were encouraged to bring their own shopping bags. ………

The Road Ahead

Summing up Aldi’s strategy in the UK, Roman Heini, group managing director of Aldi UK, said, “We keep prices constantly low while keeping product quality consistently high, which is exactly what shoppers want. They had become used to thinking you have to pay more for better products. We’ve shown them this doesn’t have to be the case. We work efficiently and responsibly to reduce operational costs. Rather than use these savings to boost margins, we lower prices at the checkout. Shoppers appreciate this and know that, while they’re paying less at Aldi, they’re getting much more for their money.

Question 1: Albrecht Discount Company was incorporated in the year ___

Select one:

a. 1945

b. 1948

c. 1956

d. 1957

Question 2

Aldi entered the UK in 1990 and opened its first store at ___

Select one:

a. Birmingham

b. UK

c. Poland

d. Brazil

Question 3

Aldi needed the population of that area to be around __

Select one:

a. 320000

b. 30,000.00

c. 31000

d. 350000

Question 4

Aldi operated on the principles of standardization, simplicity, and ___

Select one:

a. continuous improvement.

b. Improvemnet

c. Motivation

d. Involvemnet

Question 5

Aldi was known for its distinctive ___

Select one:

a. Features

b. Strategy

c. business practices

d. Policies

Question 6

Aldi’s share in the retail segment in the UK was -__ as of April 2014

Select one:

a. 4.80%

b. 4.90%

c. 4.70%

d. 4.60%

Question 7

Aldi’s strategy in the UK “We keep prices constantly low while keeping product quality consistently___ , which is exactly what shoppers want”

Select one:

a. low

b. medium

c. high

d. none of the above

Question 8

consumers in the UK were not used to shopping at ___

Select one:

a. Stroes

b. discount stores

c. New stores

d. none of the above

Question 9

Shoppers were encouraged to bring their own ____

Select one:

a. bags

b. carriers

c. both a & b

d. shopping bags

Question 10

__was unified armed forces of Germany

Select one:

a. Werhmht

b. Werhtmacht

c. both a & b

d. Wehrmacht

10/10

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Assignment 2

Significant in size with almost 70% of the market. However, with plenty of scope for further product developments and for repeat business. The growth of digital technology has not deterred Agfa and its competitors from bringing out new, improved products for use with ‘old’ technology.

• The real difference between analogue and digital lies in how images are recorded and processed. Analogue photography uses traditional cameras to expose silver-halide film. This still remains the most widely used way to capture images. Customers are well served with a variety of excellent products, from traditional slide and print films to Advanced Photo Systems (APS) films and single-use cameras with enhanced capability.

• Compared with digital systems, recent analogue advances are ‘low tech’, but so too is their cost. Image quality is excellent, and represents optimum value. The technology can also be applied widely; even single-use cameras take good pictures. However, analogue images cannot be viewed instantly, take time to enlarge or reduce and are on prints or negatives that cannot be re-used. Negatives need optimum storage conditions to remain in good condition long term. The chemicals used in processing also raise some environmental issues. Digital technology represents a genuine advance because it removes many of these difficulties.

• Digital images

• Digital images are based upon a grid or matrix. They vary in the quality of their resolution, which is expressed in pixels or dots per inch (dpi) or millimetre. The higher the resolution, the better the picture, and the more expensive the equipment producing it.

• There is a wide range of affordable digital cameras on the market now, offering varying levels of quality, capabilities and prices. There are also thousands of commercially available CD-ROMs offering images, graphics and more, all at different quality, sophistication and price levels. Consumers can also turn to the Internet, where millions of images are available for downloading to a PC.

• Digital offers some real advantages. Images are held in a digital file and are available for use immediately. They can be transferred immediately from camera to PC, where they can be compressed, amended, altered and despatched using e-mail, fast ISDN lines and the internet. They can be downloaded and printed or transferred to CDs using recently developed copying equipment that retains image quality at a high level.

• Consumers can take CDs to an Agfa Image Center where the quality, format and resolution can be chosen. Digital images have transformed access, ease of use and transmission of images to provide a flexible series of solutions for customer needs. With instantaneous image capture, digital images require only minimal storage facilities. Images can also be manipulated and altered and only the chosen images need to be put into print format.

• However, at the present stage of development, really high quality digitally produced images do not come cheap; the equipment required is expensive. Professional users face high set-up costs, but in industries where speed, quality, and flexibility in use really matter, the price is worth paying. Imaging is an industry where copyright is jealously guarded, and ease of transfer brings with it problems of security and copyright protection. Digital files can also be lost or become corrupted, so some form of back-up is vital. Agfa is aware of these additional consumer and business needs and continues to work on ways of meeting them.

• The imaging industry now has two main product markets: analogue and digital. Each product has strengths and weaknesses, the importance of which varies according to customer needs and requirements.

• There remains a need for both analogue and digital imaging, depending upon the requirements of client groups. For example, during construction, gas and oil pipelines need their joints X-rayed with periodical follow-up checks so that cracks and defects can be detected. This is a job for tried and tested analogue systems.

On the other hand, digital technologies have helped to transform the work of hospital radiologists. For example, a software package developed by Agfa called MUSICA (Multiscale Image Contrast Amplification) enables radiologists to manipulate X-ray images in various ways. Edges can be sharpened up to reveal key details, and images can be rotated to offer alternative perspectives. Users can zoom in on details, and select and sort images in a search for recurring patterns. Images can be shared across a number of hospital workstations and can also be transmitted for immediate expert analysis elsewhere.

The best investment programmes are supported by painstaking research: market research into what consumers require and product research to establish what the new technology can and cannot do for them. Agfa is at the heart of changes in imaging brought about by new technology. It is leading. It is also listening and learning. In a highly competitive industry, Agfa’s thorough approach is enabling it to retain important competitive advantages over its closest and fiercest rival

Question 1: Agfa’s operations involve a high level of ___

Select one:

a. Creativity

b. Uniqueness

c. innovation

d. authenticity

Question 2

Consumers can take CDs to an Agfa Image Center where the quality, format and ____can be chosen.

Select one:

a. resolution

b. Pattern

c. Both a & b

d. None of the above

Question 3

Digital images are based upon a ____

Select one:

a. grid

b. metrix

c. perception

d. light

Question 4

Digital technologies are changing the way in which people take ___and use images

Select one:

a. Pictures

b. Images

c. Both a & b

d. process

Question 5

Digital technology is transforming __

Select one:

a. newspaper production

b. Education

c. people

d. Communication

Question 6

Negatives need ___ storage conditions to remain in good condition long term

Select one:

a. more

b. less

c. Both a & b

d. optimum

Question 7

The Agfa-Gevaert Group de-velops, produces and distributes an extensive range of analogue and ____

Select one:

a. digital

b. Light rays

c. diode

d. digital imaging systems

Question 8

The best investment programmes are supported by ___ research

Select one:

a. Marketing

b. painstaking

c. Cross-sectional

d. Longitudinal

Question 9

The imaging industry now has two main product markets: ___and digital

Select one:

a. Customer driven

b. analogue

c. Corporate

d. All of the above

Question 10

The real difference between analogue and digital lies in how images are___ and processed

Select one:

a. Looked

b. recorded

c. Seen

d. both a & b

10/10

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Foreign Trade Policy (EDL 411)-Semester IV

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Foreign Trade Policy (EDL 411)-Semester IV

Wal-Mart Stores Inc. (Wal-Mart) entered Japan in March 2002, through an alliance with Seiyu Limited (Seiyu), Japan’s fifth largest retailer in 2002. There were mixed reactions from analysts.

Some cited macro-economic factors like the low rate of growth4 and an aging population that made Japan’s retail market less than attractive. However, others felt that despite these factors, Japan’s $451 billion retail industry was sufficiently large to justify Wal-Mart’s interest.

As soon as it entered Japan, Wal-Mart brought in its best practices in retailing like Every Day Low Prices5 (EDLP) and Rollback,6 for which the firm was renowned. It also attempted to introduce substantial changes to the management of Seiyu stores by revamping its store layouts, and implementing Retail Link,7 its widely appreciated supply chain management software. Despite these efforts, Seiyu registered consecutive losses in 2003 and 2004.

Some experts commented that Wal-Mart’s retailing model was not suitable for Japan. They pointed out that Japanese consumers preferred conveniently located stores within the city and were not visibly price-conscious. They added that foreign retailers had trouble with procurements due to the multi layered network of suppliers and retailers in the Japanese retail sector.

Experts began to compare Wal-Mart’s experiences in Japan with its experiences in other countries such as Mexico and Germany. While Wal-Mart had a shaky start in Mexico, it later emerged as a market leader in the country. In Germany, however, it could not overcome initial setbacks and was still struggling. Experts wondered whether the Japanese venture would replicate the Mexican success story or the German misadventure. In August 2005, Wal-Mart announced that it was contemplating launching stores with its own brand name in Japan. This seemed like a bold move by Wal-Mart, especially since another big foreign retailer – Carrefour8 – had exited the Japanese market just a few months earlier in March of the same year, after struggling to establish itself for six years.

Despite its troubles with Seiyu, Wal-Mart also made a bid to acquire Japan’s fourth largest retailer Daeiei in 2004, when it was being restructured through a bailout. However, Wal-Mart’s bid for Daeiei was rejected in September 2005, dealing a big blow to its expansion plans in Japan. Had the bid been successful, Wal-Mart could have emerged as the second largest retailer in Japan after Ito Yokado.

In 1962, Sam Walton (Walton) and his brother James Lawrence “Bud” Walton opened the first Wal-Mart store in Rogers (Arkansas), USA. In the first year of its operations, the store registered sales of over $1 million. Initially, the Waltons concentrated on opening stores in small towns and introduced innovative concepts such as self-service. By 1967, Wal-Mart had 24 stores with sales of $12.6 million.

Encouraged by the early success of Wal-Mart, Walton expanded Wal-Mart’s operations to Oklahoma and Missouri in 1968. In the following year, Wal-Mart was incorporated as a company under the name Wal-Mart Stores Inc. In 1970, Wal-Mart established its first distribution center in Bentonville, Arkansas. The same year, it was also traded for the first time as a public limited company in over the counter9 stock trading. In 1972, Wal-Mart was listed on the New York Stock Exchange. Wal-Mart continued to grow in the 1970s, benefiting from its highly automated distribution system, which reduced shipping costs and time, and its computerized inventory system, which speeded up the checkout and reordering of stocks.

By 1975, there were 125 Wal-Mart stores in operation with sales of $340.3 million and 7,500 employees. The famous ‘Wal-Mart Cheer’ was introduced by Walton in the same year to foster cooperation and team spirit among employees (Refer Exhibit II for the Wal-Mart Cheer). In 1978, Wal-Mart purchased the Hutcheson Shoe Company, and later set up pharmacy, auto service center, and jewelry divisions.

By 1980, Wal-Mart had 276 stores with annual sales of $1.4 billion and by 1984 the number of stores increased to 640 with annual sales of $4.5 billion and profits of over $200 million. In the 1980s, strong customer demand in small towns led to the rapid growth of Wal-Mart.

Wal-Mart succeeded in smaller towns because it offered low prices and catered to the specific needs of small towns. It offered the kinds of products that were most in demand by customers and fixed the store’s business hours according to its customers’ convenience. This made Wal-Mart more popular than the local stores which offered limited selection and had high mark-ups…

In early 1990s, Wal-Mart announced that it would go global. It wanted to look for international markets for the following reasons:

» Wal-Mart was facing stiff competition from K-mart and Target , which had adopted aggressive expansion strategies and had started eating into Wal-Mart’s market share.

» Although Wal-Mart had the scope to expand in the US, it was becoming difficult for the company to sustain its double digit growth rate. Wal-Mart was suffering from soft sales and rising inventories, especially in respect of its Sam’s Club divisions.

» Wal-Mart also realized that the US population represented only 4% of the world’s population and confining itself to the US market would mean missing the opportunity to tap potentially vast markets elsewhere.

» In the early 1990s, globalization and liberalization opened up new markets and created opportunities for discount stores such as Wal-Mart across the world.

During the first five years of its globalization initiative (1991-1995), Wal-Mart concentrated on Mexico, Canada, Argentina and Brazil, which were close to its home market.

It started with Canada and Mexico due to the similarities in people’s habits, culture and the business environments in these countries and also because the North American Free Trade Agreement (NAFTA) made it easier for US companies to enter these markets.

Wal-Mart’s decision to enter Argentina and Brazil was based on the high growth rates of the Latin American markets…

In the 1990s, real estate prices in Japan declined, prompting many foreign retailers to enter the country. Wal-Mart started exploring the Japanese market in 1997. Other major foreign retailers Costco and Carrefour entered the Japanese market in 1998 and 1999 respectively (Refer Table V for foreign retailers in Japan). Costco and Carrefour entered Japan without a local partner and faced difficulties from the very beginning. This convinced Wal-Mart that it should partner with a Japanese company so as to enable it to understand the peculiarities of the Japanese market…

Wal-Mart and Seiyu identified IT and distribution as the key areas for reforming the retail business of Seiyu. During 2002-03, Wal-Mart also conducted extensive focus group researches and studied retailers in Japan so that it could apply this insight to the management of Seiyu’s stores. Seiyu launched a five-year plan in December 2002, called as the “New Seiyu”program. Through this Seiyu wanted to implement the best practices offered by the Wal-Mart model. In line with the above program, in August 2003, Seiyu began the roll out of Wal-Mart’s store information system called as “Smart System”.

As of 2005, Seiyu said that it did not hope to make any profits till 2006. The opening of the next Super Center would also be taken up only after 2006. The company had realized that it was not able to cut costs enough to allow it to offer really heavy discounts necessary to make customers shop regularly at its stores.

In Japan, as compared to the US market, Wal-Mart was still to achieve big efficiencies by leveraging Retail Link and increasing its purchasing. As Marra remarked, “In the U.S., Wal-Mart’s information technology and huge buying power allows the company to undercut rivals by some 15% across the board…

Question 1: Foreign retailers ____ and Carrefour entered the Japanese market in 1998 and 1999

Select one:

a. Zoomberg

b. Costco

c. Both a & b

d. All of the above

Question 2

Seiyu began the roll out of Wal-Mart’s store information system called as ______

Select one:

a. Technical zone

b. Tricky system

c. Both a & B

d. Smart System

Question 3

Wal-Mart also made a bid to acquire Japan’s fourth largest retailer ____in 2004,

Select one:

a. Zooiai

b. Chingai

c. Buzferrr

d. Daeiei

Question 4

Wal-Mart Stores Inc. (Wal-Mart) entered ___ in March 2002

Select one:

a. Korea

b. Japan

c. Russia

d. Europe

Question 5

Wal-Mart succeeded in smaller towns because it offered ___ and catered to the specific needs of small towns

Select one:

a. low prices

b. High Prices

c. Both a & B

d. None of the above

Question 6

Wal-Mart was facing stiff competition from K-mart and ____

Select one:

a. Local Players

b. National Players

c. Both a & b

d. Target

Question 7

Wal-Mart was listed on the _____

Select one:

a. Europe Markets

b. US Markets

c. New York Stock Exchange.

d. Bombay Stock Exchange

Question 8

Wal-Mart’s decision to enter Argentina and Brazil was based on the ___ growth rates of the Latin American markets

Select one:

a. Medium

b. Low

c. high

d. All of the above

Question 9

Wal-Mart’s information technology and huge buying power allows the company to undercut rivals by some ____ across the board…

Select one:

a. 15%

b. 12%

c. 10%

d. 14%

Question 10

Walton expanded Wal-Mart’s operations to Oklahoma and Missouri in ___

Select one:

a. 1968

b. 1984

c. 1965

d. 1986

10/10

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2nd Module Assessment

In January 2004, leading global automobile company and Japan’s number one automaker, Toyota Motor Corporation (Toyota), replaced Ford Motors (Ford), as the world’s second largest automobile manufacturer; Ford had been in that spot for over seven decades. In 2003, Toyota sold 6.78 million vehicles worldwide while Ford’s worldwide sales amounted to 6.72 million vehicles (General Motors, the world’s largest car manufacturer sold 8.60 million vehicles).

According to reports, while Toyota’s market share in the US increased from 10.4% in 2002 to 11.2% in 2003, Ford’s declined from 21.5% to 20.8% during the same period. Reaching the No.2 slot was a major achievement for Toyota, which had begun as a spinning and weaving company in 1918. Ford was reportedly plagued by high labor costs, quality-control problems, lack of new designs and innovations, and a weak economy during the early 21st century, which made it vulnerable to competition. Toyota, aided by its new product offerings and strong financial muscle had successfully used this scenario to surpass Ford and affect a dramatic increase in its sales figures. In November 2003, Toyota announced its financial results for the half-year ended September 30, 2003.

The company reported a 23% increase in net income (as compared to the corresponding period of the previous year) to $4.4 billion on revenues of $69.7 billion. This took Toyota way ahead of World’s top three automobile makers (at that time) by sales, General Motors (GM), Ford Motors (Ford) and Daimler Chrysler. Its market capitalization of $110 billion (on November 05, 2003) was more than the combined market capitalization of these three players. (See Table I).

Given the fact that in 2003, these top three companies were struggling to maintain their sales and profitability targets, Toyota’s performance was termed remarkable by industry observers (See Exhibit I for the company’s financials). Toyota had emerged as a formidable player in almost all the major automobile markets in the world. Interestingly, one of its strongest markets was the US, the world’s largest automobile market and the home turf of Ford and GM. Toyota had emerged as a strong foreign player in Europe as well, with a 4.4% market share. In China, which the company had identified as a strategic market for growth in the early 21st century, it had a 1.5% market share.

The other major markets in which the company was fast strengthening its presence were South America, Southwest Asia, Southeast Asia and Africa.3 Back home in Japan, it enjoyed a market share of over 43%. Analysts attributed Toyota’s growing sales across the world to its aggressive globalization efforts that began in the mid-1990s.

The company constantly strived to ensure that each of its market segments – Japan, North America, and Europe and other markets – generated one-third of the annual sales (See Exhibits II and III for revenues and revenue growth data in its core markets). This goal was at the heart of Toyota’s three globalization programs – New Global Business Plan (1995-1998), Global Vision 2005 (1996-2005) and Global Vision 2010 (2002-2010). In the light of Toyota’s intensifying globalization efforts, Toyota’s competitors themselves stated that Toyota could not be taken lightly. GM’s Chairman, John F. Smith Jr., said, “I would not say they will not make it. Toyota is an excellent company. They are very focused on what they do and they do it well, and that is what makes them great.”4

Toyota’s history dates back to 1897, when Japan’s Sakichi Toyoda (Sakichi) diversified from his traditional family business of carpentry into handloom machinery. He founded Toyoda Automatic Loom Works (TALW) in 1926 for manufacturing automatic looms. Sakichi invented a loom that stopped automatically when any of the threads snapped.

This concept (designing equipment to stop so that defects could be fixed immediately) formed the basis of the Toyota Production System (TPS) and later became a major factor in the company’s success. In 1933, Sakichi established an automobile department within TALW and the first passenger car prototype was developed in 1935. Sakichi’s son, Kiichiro Toyoda (Kiichiro), convinced him to enter the automobile business, and this led to the establishment of Toyota in 1937. During a visit to Ford to study the US automotive industry, Kiichiro saw that an average US worker’s production was nine times that of an average Japanese worker. He realized that to compete globally, the Japanese automobile industry’s productivity had to be increased…

In June 1995, Toyota announced the ‘New Global Business Plan,’ aimed at advancing localization (of production) and increasing imports (through collaboration with foreign automobile companies) over a three year period. A major objective of this plan was to increase Toyota’s offshore production capacity to 2 million units by 1998.

As part of the localization efforts, Toyota focused on increasing overseas production significantly by establishing new plants and expanding the capacity of the existing plants (See Table II for major initiatives taken under the New Global Business Plan).

Apart from this short-term global business plan, Toyota also came up with a long-term global business vision in June 1996, named the ‘Global Vision 2005.’ The major components of “Global Vision 2005″were, asserting a competitive edge in technology and accelerating globalization, while sustaining market leadership in Japan, by reclaiming its above 40% market share.

As part of its globalization efforts, the company focused more on increasing the production of automobiles in the areas where they were sold…

According to industry observers, the above scenario was due to a host of reasons such as excessive capacity, choosy customers, surplus workforce and intensified competition within Japan. In 1998, Japan sales accounted for a mere 38% of the company’s total sales, as compared to 52% in 1990.

Also, Toyota’s Japan sales contributed to a very small share of its total profits. US sales contributed to the majority share (80%) of the profits, followed by Europe. By the late 1990s; young buyers accounted for 30% of the customer base as compared to over 45% in the late 1980s. In 1998, models from rival companies such as Honda and BMW were more popular than the ones offered by Toyota. According to reports, Japanese youngsters felt that Toyota cars ‘lacked attitude.’ Toyota realized that by losing its young customers to other companies, it ran the risk of losing its future market as well. Analysts claimed that despite its efforts to cater to the young, the company had failed to give them zippy compact minivans and sports utility vehicles…

Cho decided to focus more on localization – he believed that by doing so, Toyota would be able to provide its customers with the products they needed, where they needed them. This was expected to help build mutually benefiting, long-term relationships with local suppliers and fulfill Toyota’s commitments to local labor and communities. Cho defined globalization as ‘global localization.’ Therefore, besides focusing on increasing the number of manufacturing centers and expanding the sales networks worldwide, Toyota also focused on localizing design, development and purchasing in every region and country…

In April 2002, Toyota announced another corporate strategy to boost its globalization efforts.

This initiative, termed the ‘2010 Global Vision’ was aimed at achieving a 15% market share (from the prevailing 10%) of the global automobile market by early 2010, exceeding the 14.2% market share held by the leader GM.

The theme of the new vision was ‘Innovation into the Future,’ which focused on four key components: Recycling Based Society; Age of Information Technology; Development of Motorization on a Global Sale; and Diverse Society (See Table III)…

By mid-2003, Toyota was present in almost all the major segments of the automobile market that included small cars, luxury sedans, full-sized pickup trucks, SUVs, small trucks and crossover vehicles. According to reports, while global vehicle production increased by 3.3 times since the early 1960s, Toyota’s production had increased by 38 times. As a result of its localization initiatives, Toyota had 45 manufacturing plants in 26 countries and regions by this time, and sold vehicles in 160 countries

By the end of 2003, Toyota seemed to be well on its way to achieving its globalization goals – worldwide sales of 6.57 million units in fiscal 2004; sales of 2.12 million units in North America by 2004; a 5% market share (800,000 units sales) in Europe by 2004; a 15% market share in the global market and a 10% market share in China by 2010.

Analysts felt that the following factors were helping the company in its quest to become a truly global automobile major: strong financial condition, globally efficient production system, unique corporate culture, and the ability to develop a product range that met the unique needs and desires of customers in different regions…

Question 1: 2010 Global Vision’ was aimed at achieving a___ market share

Select one:

a. 12%

b. 13%

c. 15%

d. 18%

Question 2

company focused more on ____ the production of automobiles

Select one:

a. Decreasing

b. increasing

c. Both a & b

d. None of the above

Question 3

Japanese youngsters felt that Toyota cars ___

Select one:

a. Expensive

b. Outdated

c. Both a & b

d. lacked attitude

Question 4

major objective of this plan was to increase Toyota’s offshore production capacity to 2 million units by___

Select one:

a. 1997

b. 1999

c. 2001

d. 1998

Question 5

The theme of the new vision was Innovation into the __

Select one:

a. Future

b. Present

c. Past

d. Both a & b

Question 6

Toyota had 45 manufacturing plants in ___ countries

Select one:

a. 45

b. 23

c. 26

d. 34

Question 7

Toyota Motor Corporation (Toyota), replaced Ford Motors (Ford), as the world’s ___ largest automobile manufacturer

Select one:

a. second

b. Third

c. First

d. Fourth

Question 8

Toyota seemed to be well on its way to achieving its _____goals

Select one:

a. globalization

b. Organizational

c. Both a & b

d. None of the above

Question 9

Toyota way ahead of World’s top three automobile makers by sales, General Motors (GM), Ford Motors (Ford) and ____.

Select one:

a. Toyota

b. Bugaati

c. Daimler Chrysler

d. All of the above

Question 10

_____invented a loom that stopped automatically when any of the threads snapped.

Select one:

a. Zaikuu

b. Sakichi

c. qashiin

d. All of the above

10/10

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3rd Module Assessment

In July 2003, Saudi British Bank (SABB), the Saudi Arabian associate of global financial services and banking major HSBC, won two prestigious international awards at the annualEuromoney 1 ‘Awards for Excellence 2003’ ceremony held in London. SABB was adjudged the ‘Best Bank’ and the ‘Best Equities House’ in recognition of its value added customer services and banking products.

The company was lauded as the most innovative banking products and services provider in the kingdom of Saudi Arabia. SABB Chairman Sheikh Abdullah Mohammed Al-Hugail was of the opinion that the award represented the recognition of the bank’s customer-first policy, “The recognition conferred on SABB is a reflection of the emphasis placed on providing high quality service to its customers, which has always been its top priority.”2 Geoff Calvert (Calvert), Managing Director, SABB said that the awards were, “A recognition of the bank’s efforts across a broad spectrum of areas, including customer service, recruiting and training Saudis to use state-of-the-art technology that facilitates a wide range of financial products and services.”3

SABB was also applauded for the successful execution of Saudi Telecommunication Company’s (STC) initial public offering (IPO). Reportedly, SABB was entrusted with this task by the Public Investment Fund (PIF), the investment division of the Ministry of Finance, Saudi Arabia, because of its technical capabilities and industry expertise. SABB was also the top broker on the Saudi Stock Exchange in 2002. Many industry observers felt that no other bank in Saudi Arabia matched HSBC’s expertise in offering localized financial services/products.

In fact, it was its customer-centric product development policy that helped HSBC establish itself firmly in the Saudi Arabian banking industry through SABB. The bank’s impressive financial performance over the years stood as a testimony to its success (Refer Exhibit I for SABB’s financial highlights for the period 1998-2002). SABB posted a net profit of SAR (Saudi Riyal4) 565 million during the six month period ended June 30, 2003. The bank recorded an increase of 16.1% over the income earned during the corresponding period in 2002 (SAR 487 million). Customer deposits at the bank also increased from SAR 33.1 billion on June 30, 2002 to SAR 36.5 billion on June 30, 2003 (Refer Exhibit II for details).

HSBC’s origins can be traced back to 1865, when Thomas Sutherland, the Hong Kong Superintendent of the Peninsular and Oriental Steam Navigation Company, realized the need for local banking facilities in China and Hong Kong. The bank was established as The Hong Kong and Shanghai Banking Corporation Limited in March 1865 with support from investors from Hong Kong, American, European and Indian firms. Offices were opened in both Shanghai and London in April 1865. In 1866, the bank formally adopted the name HSBC.

During the rest of the 19th century and the first half of the 20th century, the bank expanded rapidly in the Asia-Pacific region through organic growth as well as by entering into various strategic alliances. HSBC opened branches in Japan (in 1866, where it acted as a banking advisor to the government), Thailand (in 1888, where it printed the country’s first banknotes), India (1867), Philippines (1875), Singapore (1877) and other geographical locations which are now recognized as Malaysia, Burma, Vietnam and Sri Lanka. By the 1880s, HSBC became the banker for the Hong Kong Government and the only joint banker for British accounts in Japan, Singapore, China and Penang.

By 1902, HSBC had become the foremost financial institution in Asia and was regarded as the pioneer of modern banking practices in the Asia-Pacific region.

In spite of the disruption caused by the First World War to international trade, HSBC prospered and continued expanding within Asia. It opened new branches in Bangkok (1921), Manila (1922) and Shanghai (1923).

In 1946, after the Second World War, HSBC played an important role in reconstructing the Hong Kong economy.

HSBC’s support to skilled and experienced entrepreneurs contributed greatly to the revival of the manufacturing sector in Hong Kong. By the mid-1950s, HSBC’s total assets stood at HK$36 billion (Hong Kong Dollar). However, the company’s board realized that HSBC’s future growth prospects would be limited if it restricted its operations to Hong Kong and China. Thus, HSBC decided to diversify both its business and its geographical spread through a series of acquisitions and alliances. From 1953 onwards, HSBC expanded its operations mainly by acquiring other banks and forming alliances

HSBC’s decision to enter the Gulf region was a part of the group’s thrust on globalization in the 1950s. In 1959, the company commenced its operations in the Middle East by purchasing the British Bank of the Middle East. Originally known as the Imperial Bank of Persia, the British Bank of Middle East had pioneered banking operations in several Gulf regions during the 1940s and 1950s.

HSBC renamed the company HSBC Bank Middle East Limited. After this, HSBC began operating in places such as Aden, Libya, Sharjah, Qatar, Tunisia, Abu Dhabi, Morocco and Saudi Arabia. During the 1960s, the banking industry in the Middle East was going through a phase of nationalization. As a result of this, HSBC had to close operations in Aden, Libya, Syria and Iraq. However, the company reinforced its branch network in the oil rich countries and formed new alliances with local banks. In 1978, HSBC established the Saudi British Bank (SABB) as a joint stock company under Saudi Arabia’s royal decree. SABB was formed to take over the British Bank of Middle East’s branches in Saudi Arabia…

From 2000 onwards, SABB introduced several innovative products and services to compete with large-sized banks in the kingdom. The new Islamic banking products and services it offered were in line with the government’s policy of ‘Saudisation,’ which was aimed at encouraging the Islamic way of doing business and creating more employment/business opportunities for Saudi nationals.

In July 2000, SABB introduced ATMs in Riyadh and Makkah for the convenience of visually impaired customers. The first of its kind in Saudi Arabia, these ATMs allowed visually impaired customers to conduct transactions independently with complete privacy and security. In November 2000, SABB launched financial planning services which were similar to insurance policies. The bank offered two plans, Al Amal and Al Manar, aimed at helping customers plan for their future financial security. Under Al Amal, customers could take a policy for a specific amount for a specific duration. They paid a specified premium to the bank, which was credited to an Education and Protection fund. The amount in this fund was withdrawn by the customer at the maturity of the policy or after death, whichever occurred earlier…

SABB’s efforts towards introducing a new, unique banking experience to Saudi Arabian customers were rewarded not only through improved financials but also through growing clout in the country’s business scenario.

In 2002, SABB was ranked 10th among the top 100 companies in Saudi Arabia, an improvement from its 12th rank in 2000(Refer Exhibit V).

Industry observers said that this achievement was indeed noteworthy since SABB was the only bank from the medium-sized category to feature in the top 10 list.

A customer survey conducted by SABB in early-2003 revealed that the Islamic banking products and services launched through the Al Amanah Banking division were very well received and enhanced customer satisfaction.

This prompted the company to launch more such products: the Al Tomooh Account (May 2003) and the Al Mutamayazah Gold program (June 2003).

The Al Tamooh Account was a savings account designed for children below 18 years. Though children could not operate these accounts, they were issued ATM cards on request, with appropriate guidance from guardians…

Question 1: Al Amal, customers could take a policy for a specific ___ for a specific duration.

Select one:

a. amount

b. Time

c. Both a & b

d. None of the above

Question 2

Al Amanah ___ were very well received and enhanced customer satisfaction.

Select one:

a. Garments

b. Food

c. Both a & b

d. Banking division

Question 3

HSBC had become the foremost financial institution in ____

Select one:

a. Asia

b. Russia

c. Paris

d. Germany

Question 4

SABB Chairman Sheikh Abdullah Mohammed ___

Select one:

a. Al-Hugail

b. Mubaraq

c. Both a & b

d. All of the above

Question 5

SABB introduced ATMs in Riyadh and Makkah for the convenience of ______customers

Select one:

a. Blind

b. Deaf

c. visually impaired

d. All of the above

Question 6

SABB launched financial planning services which were similar to __ policies.

Select one:

a. Other State

b. National

c. Both a & b

d. insurance

Question 7

SABB was also applauded for the successful execution of Saudi Telecommunication Company’s (STC) _____

Select one:

a. Uganmmm

b. Marjinaah

c. initial public offering (IPO)

d. Riyaadh

Question 8

SABB was formed to take over the _____of Middle East’s branches in Saudi Arabia.

Select one:

a. WTO

b. British Bank

c. European Bank

d. Asian Bank

Question 9

The Al Tamooh Account was a savings account designed for children below ____

Select one:

a. 15 years

b. 18 years

c. 14 years

d. 21 years

Question 10

____was aimed at encouraging the Islamic way of doing business and creating more employment/business opportunities for Saudi nationals.

Select one:

a. Policies

b. Saudisation

c. Globalization

d. None of the above

10/10

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4th Module Assessment

In early 2004, Bumrungrad Hospital Public Company Limited (Bumrungrad) in Bangkok (Thailand) was named the ‘Best Small Cap Company,’ by the Singapore-based magazine Asiamoney.

The award was given on the basis of a 2003 poll conducted on more than 3000 fund managers, chief investment officers and heads of research at fund management firms, insurance companies and brokerage houses in the Southeast Asian region.

Bumrungrad (market capitalization of under US$500 mn) was selected from over 180 companies considered for the award.

On Bumrungrad’s remarkable achievements, Philip Owens, the Managing Director and Publisher of Asiamoney said, “This represents the first time that this award has been made to a hospital company in the twelve-year history of the poll.

One glance at our best-managed companies on our 2003 poll reveals that they have one talent in common – the ability to recover fast. Bumrungrad Hospital in Thailand certainly fits this description with its remarkable success story.”

On receiving this honor, Curtis Schroeder (Schroeder), CEO of Bumrungrad said, “We’re very happy to be recognized in this year’s poll.

Bumrungrad has made a remarkable recovery from the dark days of the Asian economic crisis through an effective restructuring and has emerged as the dominant regional player in the Southeast Asian healthcare care market for cost-effective international medical care.

This award is a wonderful capstone to the efforts of our management and employees.”4 Believed to be Southeast Asia’s largest privately managed hospital, the 554-bed Bumrungrad Hospital treats both Thai nationals and foreign patients. The hospital is becoming increasingly popular with foreign patients. In 2002, out of the 850,000 patients treated in Bumrungrad, there were 250,000 foreign patients, coming from over 130 countries across the world.

Since the mid-1990s, Bumrungrad has come a long way to emerge as a leading healthcare brand in the world. In 1997, when Thailand was hit by the Southeast Asian currency crisis5, Bumrungrad was among the several healthcare companies in Thailand that were severely affected. A vast majority of Thai patients moved away from private hospitals to government-run ones. However, Bumrungrad perceived this adverse situation as an opportunity for growth and followed an aggressive marketing strategy that targeted foreign patients to the hospital. Though Bumrungrad has been largely successful through its focus on foreign patients since mid-1997, the hospital faces a few important challenges in early 2004.

Bumrungrad faces fierce competition from leading hospitals in Thailand and other neighboring countries like Singapore and India, which are targeting the same clients by offering similar world-class healthcare facilities. Bumrungrad, therefore, has to discover new ways and means to differentiate its healthcare services from those of its competitors.

Established in September 1980, Bumrungrad6was initially a 200-bed facility. The initial investment for setting up the hospital was Thai Baht7 90 mn.

The hospital was jointly owned by Bangkok Bank and the Sophonpanich family, one of Thailand’s leading business families.

In 1989, ungrad went public and its shares were listed on the Thai Stock Exchange. Over the next decade, Bumrungrad adopted several innovative practices to emerge as the best privately managed hospital in Thailand.

The significant increase in the number of domestic patients in its care over the years led to many fold increase in its revenues. In January 1997, Bumrungrad shifted to its new facility located at the centre of Bangkok. Constructed at an estimated cost of $110 mn ($60 mn raised through offshore loans), the 12-floor building had 554 beds and 21 operation theatres…

In the late 1990s, Bumrungrad participated in an international road show organized by the export promotion department of Thailand commerce ministry. It was around this time that Thailand began promoting medical tourism as an ‘export’ product – one which could earn valuable foreign currency for the country (Refer Exhibit I for the medical tourism industry scenario in Thailand).

Soon, Bumrungrad opened representative offices in Ho Chi Minh City (Vietnam), Yangon (Burma), Dhaka (Bangladesh) and Laos (Cambodia).

The offices provided assistance to foreigners, helping them to procure visas and make travel arrangements, and providing cost estimates to patients intending to get treated.

They even coordinated arrangements for picking up and dropping off patients at Bangkok airport with the Bumrungrad hospital staff. Sales representatives were sent to other Asian countries to create awareness and promote Bumrungrad…

Bumrungrad had a western-style ambience in the hospital to woo foreign patients. The lobby of the hospital resembled a five-star hotel, with a ceiling as high as two floors, teak pillars and plush sofas and armchairs. Attractive oriental carpets covered the marble floors, while flowering trees and shrubs were tastefully arranged around…

Well-planned pricing was a major contributor to Bumrungrad’s success. The healthcare costs at Bumrungrad were significantly cheaper than those at similar medical facilities at Hong Kong, Singapore and the US

On the importance of pricing, Schroeder said, “If you’re flying several thousand miles, the issue is the combination of quality and price. As long as quality is held to be as good or better, price is the most compelling factor.” The room rent included nursing care and general medical services….

By 2002, Bumrungrad’s strategy of wooing foreigners reaped rich dividends with the hospital witnessing more than three-fold growth in the number of foreign patients between 1997 and By 1999, foreign patients accounted for 28% of its total customers compared to 11% before the 1997 crisis…

In February 2003, Bumrungrad opened an outpatient pediatric centre, called Kids’ Village. Constructed at an estimated cost of 20 mn Baht, the centre was the largest children’s medical care center in Thailand.

The center aimed to attract 30,000 children per month compared to the current influx of nearly 10,000 children every month. The centre had 48 qualified pediatricians, representing different pediatric disciplines such as allergy, nephrology, endocrinology, psychiatry and so on.

The center offered several medical services in a kid-friendly environment as it was painted with blue skies, clouds, etc. and had colorful treatment rooms and an entrance center, to make kids feel relaxed.

It had a Well-Baby center, with a separate entrance and waiting room for kids with immunizations and who were likely to be sick…

With its state-of-the-art medical and other infrastructural facilities and its world class healthcare services standards, by early 2004, Bumrungrad has emerged as one of the best-managed hospitals in the world.

Having achieved this remarkable growth in its business resulting in significantly improved financial performance over the past five years, Bumrungrad’s main challenge will be to sustain this growth in future, especially in the light of tough competition from local players in Thailand as well as hospitals from other emerging healthcare destinations in the world (Refer Table IV).

In 2004, Bumrungrad faces tough competition from local players, who are upgrading their services and infrastructural facilities to be on par with those at Bumrungrad. Industry analysts say that it may not be difficult to imitate the unique services offered by Bumrungrad…

Question 1: Bumrungrad faces tough competition from _____

Select one:

a. Globalized players

b. National Competitors

c. local players

d. All of the above

Question 2

Bumrungrad had a ______ ambience in the hospital

Select one:

a. European

b. Russian style

c. both a & b

d. western-style

Question 3

Bumrungrad has come a long way to emerge as a leading ____brand in the world.

Select one:

a. healthcare

b. Food zone

c. Mobile

d. None of the above

Question 4

Bumrungrad has made a remarkable recovery from the dark days of the ____ economic crisis

Select one:

a. Asian

b. German

c. Indonesian

d. South African

Question 5

Bumrungrad Hospital Public Company Limited (Bumrungrad) in Bangkok (Thailand) was named the ____ by the Singapore-based magazine Asiamoney

Select one:

a. Small Force

b. Justice premise

c. both a & b

d. Best Small Cap Company

Question 6

Bumrungrad Hospital treats both ___ nationals and foreign patients

Select one:

a. Europe

b. US

c. UK

d. Thai

Question 7

Bumrungrad opened representative offices in Ho Chi Minh City (Vietnam), Yangon (Burma), _____ and Laos (Cambodia).

Select one:

a. Dhaka (Bangladesh)

b. Nepal

c. both a & b

d. None of the above

Question 8

Thailand began promoting medical tourism as an _____product

Select one:

a. Unique

b. National

c. ‘export’

d. Import

Question 9

_____CEO of Bumrungrad

Select one:

a. Dr. Ranaio

b. Curtis Schroeder (Schroeder)

c. James

d. None of the above

Question 10

_____was a major contributor to Bumrungrad’s success.

Select one:

a. Marketing

b. Well-planned pricing

c. Advertisement

d. None of the above

10/10

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5th Module Assessment

From January 1, 2006, the University of Michigan in the US put on hold the sale of the products of The Coca-Cola Company (Coca-Cola) in all its campuses, thus becoming the tenth US University to do so. The ban was the outcome of a relentless campaign by student activists and trade union groups, who accused Coca-Cola of violent labor practices in Colombia and of creating environmental problems in India.

The University of Michigan issued the orders for the ban based on the recommendation of its University Dispute Board. This was following the inability of Coca-Cola to meet the deadline of December 31, 2005 that required agreeing on a protocol on the findings of the commission formed by a set of universities in the US.

The commission had offered to investigate the company’s labor practices and that of its bottlers in Colombia.

Coca-Cola did not want the findings of the commission to have any legal consequences but the attorneys in an earlier lawsuit against Coca-Cola and its bottlers in Colombia insisted that the findings should be legally admissible in court of law in the US.

Other prominent US universities that had banned Coca-Cola on similar grounds were the New York University, the largest private university in the US, Rutgers University in New Jersey, and the Santa Clara University in California. The University of Michigan and The New York University were Coca-Cola’s largest campus markets in the US.

 Coca-Cola’s annual contracts with the University of Michigan, which had over 50,000 students, were worth around US$ 1.4 million in sales in 2005. The campaign by student activists and trade union groups to ban Coca-Cola had been going on for several years in different countries. Coca-Cola was accused, along with its bottling partners, of hiring paramilitary death squads in Colombia to kidnap, intimidate, or kill its union leaders and other workers at its bottling plants. Since 1989, around eight union leaders of Coca-Cola’s plants in Colombia had been murdered and many others abducted and tortured. In India, Coca-Cola had to face opposition from the local people around its factory in Plachimada, Kerala,4 who charged that the company was responsible for the draining of the underground water table.

In 2003, a BBC5 report revealed that Coca-Cola was distributing improperly treated sludge containing toxic carcinogens and heavy metals like cadmium and lead, as fertilizer to farmers in the region. Coca-Cola shut down this plant in March 2004 owing to mounting pressure. The company then decided to shift its operations to a nearby industrial zone, the Kanjikode Industrial Area.

There were also protests at Coca-Cola’s Mehdiganj plant in North India over similar issues. In addition to these accusations, in 2003, the Center for Science and Environment (CSE),6 made public the findings of its study wherein it reported that the products of both Coca-Cola and PepsiCo Inc. (Pepsi) that were sold in India, had a cocktail of harmful pesticide residues in them.

In an official statement, Coca-Cola denied that it had used death squads in Colombia. The company said that two judicial investigations in the country had not found any evidence in support of such allegations. Coca-Cola also claimed that there was no evidence linking it or its bottlers with the groundwater problems at its factory locations in India…

The Coca-Cola drink, popularly referred to as ‘Coke’, is a kind of cola, a sweet carbonated7 drink containing caramel8 and other flavoring agents. It was invented by Dr. John Smith Pemberton (Pemberton) on May 8, 1886, at Atlanta, Georgia in USA.

 The beverage was named Coca-Cola because at that time it contained extracts of Coca leaves and Kola nuts.9 Frank M. Robinson (Robinson), Pemberton’s book-keeper and partner, who came up with the name for the drink, suggested that it be spelt Coca-Cola rather than Coca-Kola because he thought the two C’s would look better while advertising. Robinson designed the now world famous Coca-Cola trademark as well. Pemberton later sold the business to a group of businessmen, one of whom was Griggs Candler (Candler). By 1888, several forms of Coca-Cola were in the market competing against each other. Candler acquired these businesses from the other businessmen and established The Coca-Cola Company in 1892. He aggressively marketed the product through advertising, distribution of coupons and souvenirs, and promoted the brand name Coca-Cola…

Coca-Cola had always believed that it conducted its business with responsibility and ethics. The company’s business practices were aimed at creating value at the marketplace, providing excellent working conditions, protecting the environment, and strengthening the communities in the places of operation.

Commitment to quality and a code of business conduct were evolved to ensure good business practices. According to Coca-Cola, its commitment to quality was reflected in every facet of its business. These included commitment to product quality, quality in business processes, and in its relationships with suppliers and retailers.

The quality system was reviewed constantly so that the performance bar for these standards was always kept high. The quality guidelines were communicated to all business units and their implementation reviewed. The company introduced the Coca-Cola Quality System (TCCQS) to achieve these quality objectives (

Colombia is widely considered as one of the most dangerous countries in the world for trade union activists and union leaders. The country was in the midst of a four-decade-old civil war involving leftist guerrillas, right-wing paramilitary groups, and government forces.

 The civil war claimed approximately three thousand lives a year including those of many trade union leaders and workers. It was reported that in 2000, three out of every five trade unionists killed in the world were from Colombia. In 2001, SINALTRAINAL, a Colombian labor union, charged that Coca-Cola and its bottlers Panamerican Beverages (Panamaco), Bebidas y Alimentos De Uraba, and Coca-Cola Femsa, were linked to the violence against its union members in Colombia. Around eight union leaders of Coca-Cola’s plants in Colombia had been murdered since 1989, and many others had been abducted and tortured. Coca-Cola was accused of hiring paramilitary death squads to kidnap, torture, or kill union leaders and intimidate worker union activists at its bottling plants…

Mexico was a very important market for Coca-Cola as the country was second, after the US, in terms of per capita consumption of soft drinks in the world. The Mexican market for soft drinks was estimated at US$ 6.6 billion for the year 2004. Over the years, some of the highest profit margins for Coca-Cola in its overseas operations came from Mexico. Coca-Cola was the number one seller of soft drinks in Mexico with a 70% market share. Coca-Cola’s largest bottler in Mexico was Coca-Cola Femsa (CCF) in which Coca-Cola had a 40% stake…

In India, Coca-Cola was accused of draining the underground water table, of releasing improperly treated industrial effluents, and of selling products containing pesticide residues above standard limits. The focal point of the environmental accusations in India was the Coca-Cola plant located in Kerala. Coca-Cola, through its subsidiary in India, The Hindustan Coca-Cola Beverages Pvt. Ltd., had established a bottling plant at Plachimada locality in Palakkad district in Kerala.

The unit was established in 1998-99 in a 40-acre plot that had previously been used for irrigation of paddy and other food crops. The factory site was located in the proximity of a main irrigation canal that drew water from a nearby barrage and reservoir…

In July 2001, SINALTRAINAL, with the help of United Steelworkers of America (USWA) and the International Labor Rights Fund (ILRF), filed a lawsuit against Coca-Cola and its Colombian bottlers at a court in Miami, Florida, under the Alien Tort Claims Act (ATCA) of the American Judicial System. It accused them of being responsible for a campaign of murder and intimidation against its unionized workers and charged that it was using right wing paramilitary groups for the purpose. The US judge dismissed these charges against Coca-Cola in Colombia but approved the charges against the local bottlers in Colombia…

Coca-Cola opened an exclusive website, www.cokefacts.org, to address these allegations, especially those related to Colombia and India. In an official statement featured on the website, Coca-Cola claimed that the allegations against the business practices in Colombia were false.

Two different judicial enquiries in Colombia, one by a Colombian court and the other by the Colombia Attorney General, had found no evidence against Coca-Cola or its bottlers linking them to the murders of the union members.

Coca-Cola also quoted a judgment in the lawsuit at Miami, Florida, wherein the judge had dismissed the charges against Coca-Cola, Columbia…

Question 1: ____ was a very important market for Coca-Cola

Select one:

a. Mexico

b. US

c. UK

d. Both a & c

Question 2

Coca-Cola shut down this plant in March ___ owing to mounting pressure

Select one:

a. 2008

b. 2004

c. 2009

d. 2003

Question 3

 SINALTRAINAL, with the help of United Steelworkers of America (USWA) and the ______, filed a lawsuit against Coca-Cola

Select one:

a. Labour Welfare

b. Bank

c.  International Labor Rights Fund (ILRF)

d. All of the above

Question 4

Coca-Cola was the number one seller of soft drinks in Mexico with a ___market share.

Select one:

a. 56%

b. 67%

c. 235

d. 70%

Question 5

ATCA stands for ___

Select one:

a.  Alien Tort Claims Act

b. All Transport Casual accomodtaion

c. All Total cost accquisition

d. none of the above

Question 6

The factory site was located in the proximity of a main irrigation canal that drew water from a nearby  ____and reservoir.

Select one:

a. Palace

b. Barrage

c. River

d. Dam

Question 7

The Hindustan Coca-Cola Beverages Pvt. Ltd., had established a bottling plant at ____ locality in Palakkad district in Kerala.

Select one:

a. US

b. Asian Markets

c. Plachimada

d. Munnar

Question 8

 The company introduced  to ___ achieve these quality objectives

Select one:

a. Globalization

b. Technical Upgradation

c. Both a & b

d. the Coca-Cola Quality System (TCCQS)

Question 9

 Coca-Cola was accused of hiring ___ squads

Select one:

a. paramilitary death

b. New

c. Both a & b

d. all of the above

Question 10

 The ___ University were Coca-Cola’s largest campus markets in the US.

Select one:

a. UK

b. New York

c. Europe

d. US

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Assignment 2

From January 1, 2006, the University of Michigan in the US put on hold the sale of the products of The Coca-Cola Company (Coca-Cola) in all its campuses, thus becoming the tenth US University to do so. The ban was the outcome of a relentless campaign by student activists and trade union groups, who accused Coca-Cola of violent labor practices in Colombia and of creating environmental problems in India.

The University of Michigan issued the orders for the ban based on the recommendation of its University Dispute Board. This was following the inability of Coca-Cola to meet the deadline of December 31, 2005 that required agreeing on a protocol on the findings of the commission formed by a set of universities in the US.

The commission had offered to investigate the company’s labor practices and that of its bottlers in Colombia.

Coca-Cola did not want the findings of the commission to have any legal consequences but the attorneys in an earlier lawsuit against Coca-Cola and its bottlers in Colombia insisted that the findings should be legally admissible in court of law in the US.

Other prominent US universities that had banned Coca-Cola on similar grounds were the New York University, the largest private university in the US, Rutgers University in New Jersey, and the Santa Clara University in California. The University of Michigan and The New York University were Coca-Cola’s largest campus markets in the US.

 Coca-Cola’s annual contracts with the University of Michigan, which had over 50,000 students, were worth around US$ 1.4 million in sales in 2005. The campaign by student activists and trade union groups to ban Coca-Cola had been going on for several years in different countries. Coca-Cola was accused, along with its bottling partners, of hiring paramilitary death squads in Colombia to kidnap, intimidate, or kill its union leaders and other workers at its bottling plants. Since 1989, around eight union leaders of Coca-Cola’s plants in Colombia had been murdered and many others abducted and tortured. In India, Coca-Cola had to face opposition from the local people around its factory in Plachimada, Kerala,4 who charged that the company was responsible for the draining of the underground water table.

In 2003, a BBC5 report revealed that Coca-Cola was distributing improperly treated sludge containing toxic carcinogens and heavy metals like cadmium and lead, as fertilizer to farmers in the region. Coca-Cola shut down this plant in March 2004 owing to mounting pressure. The company then decided to shift its operations to a nearby industrial zone, the Kanjikode Industrial Area.

There were also protests at Coca-Cola’s Mehdiganj plant in North India over similar issues. In addition to these accusations, in 2003, the Center for Science and Environment (CSE),6 made public the findings of its study wherein it reported that the products of both Coca-Cola and PepsiCo Inc. (Pepsi) that were sold in India, had a cocktail of harmful pesticide residues in them.

In an official statement, Coca-Cola denied that it had used death squads in Colombia. The company said that two judicial investigations in the country had not found any evidence in support of such allegations. Coca-Cola also claimed that there was no evidence linking it or its bottlers with the groundwater problems at its factory locations in India…

The Coca-Cola drink, popularly referred to as ‘Coke’, is a kind of cola, a sweet carbonated7 drink containing caramel8 and other flavoring agents. It was invented by Dr. John Smith Pemberton (Pemberton) on May 8, 1886, at Atlanta, Georgia in USA.

 The beverage was named Coca-Cola because at that time it contained extracts of Coca leaves and Kola nuts.9 Frank M. Robinson (Robinson), Pemberton’s book-keeper and partner, who came up with the name for the drink, suggested that it be spelt Coca-Cola rather than Coca-Kola because he thought the two C’s would look better while advertising. Robinson designed the now world famous Coca-Cola trademark as well. Pemberton later sold the business to a group of businessmen, one of whom was Griggs Candler (Candler). By 1888, several forms of Coca-Cola were in the market competing against each other. Candler acquired these businesses from the other businessmen and established The Coca-Cola Company in 1892. He aggressively marketed the product through advertising, distribution of coupons and souvenirs, and promoted the brand name Coca-Cola…

Coca-Cola had always believed that it conducted its business with responsibility and ethics. The company’s business practices were aimed at creating value at the marketplace, providing excellent working conditions, protecting the environment, and strengthening the communities in the places of operation.

Commitment to quality and a code of business conduct were evolved to ensure good business practices. According to Coca-Cola, its commitment to quality was reflected in every facet of its business. These included commitment to product quality, quality in business processes, and in its relationships with suppliers and retailers.

The quality system was reviewed constantly so that the performance bar for these standards was always kept high. The quality guidelines were communicated to all business units and their implementation reviewed. The company introduced the Coca-Cola Quality System (TCCQS) to achieve these quality objectives (

Colombia is widely considered as one of the most dangerous countries in the world for trade union activists and union leaders. The country was in the midst of a four-decade-old civil war involving leftist guerrillas, right-wing paramilitary groups, and government forces.

 The civil war claimed approximately three thousand lives a year including those of many trade union leaders and workers. It was reported that in 2000, three out of every five trade unionists killed in the world were from Colombia. In 2001, SINALTRAINAL, a Colombian labor union, charged that Coca-Cola and its bottlers Panamerican Beverages (Panamaco), Bebidas y Alimentos De Uraba, and Coca-Cola Femsa, were linked to the violence against its union members in Colombia. Around eight union leaders of Coca-Cola’s plants in Colombia had been murdered since 1989, and many others had been abducted and tortured. Coca-Cola was accused of hiring paramilitary death squads to kidnap, torture, or kill union leaders and intimidate worker union activists at its bottling plants…

Mexico was a very important market for Coca-Cola as the country was second, after the US, in terms of per capita consumption of soft drinks in the world. The Mexican market for soft drinks was estimated at US$ 6.6 billion for the year 2004. Over the years, some of the highest profit margins for Coca-Cola in its overseas operations came from Mexico. Coca-Cola was the number one seller of soft drinks in Mexico with a 70% market share. Coca-Cola’s largest bottler in Mexico was Coca-Cola Femsa (CCF) in which Coca-Cola had a 40% stake…

In India, Coca-Cola was accused of draining the underground water table, of releasing improperly treated industrial effluents, and of selling products containing pesticide residues above standard limits. The focal point of the environmental accusations in India was the Coca-Cola plant located in Kerala. Coca-Cola, through its subsidiary in India, The Hindustan Coca-Cola Beverages Pvt. Ltd., had established a bottling plant at Plachimada locality in Palakkad district in Kerala.

The unit was established in 1998-99 in a 40-acre plot that had previously been used for irrigation of paddy and other food crops. The factory site was located in the proximity of a main irrigation canal that drew water from a nearby barrage and reservoir…

In July 2001, SINALTRAINAL, with the help of United Steelworkers of America (USWA) and the International Labor Rights Fund (ILRF), filed a lawsuit against Coca-Cola and its Colombian bottlers at a court in Miami, Florida, under the Alien Tort Claims Act (ATCA) of the American Judicial System. It accused them of being responsible for a campaign of murder and intimidation against its unionized workers and charged that it was using right wing paramilitary groups for the purpose. The US judge dismissed these charges against Coca-Cola in Colombia but approved the charges against the local bottlers in Colombia…

Coca-Cola opened an exclusive website, www.cokefacts.org, to address these allegations, especially those related to Colombia and India. In an official statement featured on the website, Coca-Cola claimed that the allegations against the business practices in Colombia were false.

Two different judicial enquiries in Colombia, one by a Colombian court and the other by the Colombia Attorney General, had found no evidence against Coca-Cola or its bottlers linking them to the murders of the union members.

Coca-Cola also quoted a judgment in the lawsuit at Miami, Florida, wherein the judge had dismissed the charges against Coca-Cola, Columbia…

Question 1: ____ was a very important market for Coca-Cola

Select one:

a. Mexico

b. US

c. UK

d. Both a & c

Question 2

Coca-Cola shut down this plant in March ___ owing to mounting pressure

Select one:

a. 2008

b. 2004

c. 2009

d. 2003

Question 3

 SINALTRAINAL, with the help of United Steelworkers of America (USWA) and the ______, filed a lawsuit against Coca-Cola

Select one:

a. Labour Welfare

b. Bank

c.  International Labor Rights Fund (ILRF)

d. All of the above

Question 4

Coca-Cola was the number one seller of soft drinks in Mexico with a ___market share.

Select one:

a. 56%

b. 67%

c. 235

d. 70%

Question 5

ATCA stands for ___

Select one:

a.  Alien Tort Claims Act

b. All Transport Casual accomodtaion

c. All Total cost accquisition

d. none of the above

Question 6

The factory site was located in the proximity of a main irrigation canal that drew water from a nearby  ____and reservoir.

Select one:

a. Palace

b. Barrage

c. River

d. Dam

Question 7

The Hindustan Coca-Cola Beverages Pvt. Ltd., had established a bottling plant at ____ locality in Palakkad district in Kerala.

Select one:

a. US

b. Asian Markets

c. Plachimada

d. Munnar

Question 8

 The company introduced  to ___ achieve these quality objectives

Select one:

a. Globalization

b. Technical Upgradation

c. Both a & b

d. the Coca-Cola Quality System (TCCQS)

Question 9

 Coca-Cola was accused of hiring ___ squads

Select one:

a. paramilitary death

b. New

c. Both a & b

d. all of the above

Question 10

 The ___ University were Coca-Cola’s largest campus markets in the US.

Select one:

a. UK

b. New York

c. Europe

d. US

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Compensation & Reward Management (EDL 409)-Semester 4

Compensation & Reward Management (EDL 409)-Semester 4

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1st Module Assessment

CASE STUDY 

Salary inequities at Acme Manufacturing
Joe Black was trying to figure out what to do about a problem salary situation he had in his plant. Black recently took over as president of Acme Manufacturing. The founder and former president, Bill George, had been president for 35 years. The company was family owned and located in a small eastern Arkansas town. It had approximately 250 employees and was the largest employer in the community. Black was the member of the family that owned Acme, but he had never worked for the company prior to becoming the president. He had an MBA and a law degree, plus five years of management experience with a large manufacturing organization, where he was senior vice president for human resources before making his move to Acme.A short time after joining Acme, Black started to notice that there was considerable inequity in the pay structure for salaried employees. A discussion with the human resources director led him to believe that salaried employees pay was very much a matter of individual bargaining with the past president. Hourly paid factory employees were not part of this problem because they were unionized and their wages were set by collective bargaining. An examination of the salaried payroll showed that there were 25 employees, ranging in pay from that of the president to that of the receptionist. A closer examination showed that 14 of the salaried employees were female. Three of these were front-line factory supervisors and one was the human resources director. The other 10 were non management.This examination also showed that the human resources director appeared to be underpaid, and that the three female supervisors were paid somewhat less than any of the male supervisors. However, there were no similar supervisory jobs in which there were both male and female job incumbents. When asked, the Hr director said she thought the female supervisors may have been paid at a lower rate mainly because they were women, and perhaps George, the former president, did not think that women needed as much money because they had working husbands. However, she added she personally thought that they were paid less because they supervised less-skilled employees than did the male supervisors. Black was not sure that this was true.The company from which Black had moved had a good job evaluation system. Although he was thoroughly familiar with and capable in this compensation tool, Black did not have time to make a job evaluation study at Acme. Therefore, he decided to hire a compensation consultant from a nearby university to help him. Together, they decided that all 25 salaried jobs should be in the same job evaluation cluster, that a modified ranking method of job evaluation should be used, and that the job descriptions recently completed by the HR director were current, accurate, and usable in the study.The job evaluation showed that the HR director and the three female supervisors were being underpaid relative to comparable male salaried employees . Black was not sure what to do. He knew that if the underpaid female supervisors took the case to the local EEOC office, the company could be found guilty of sex discrimination and then have to pay considerable back wages. He was afraid that if he gave these women an immediate salary increase large enough to bring them up to where they should be, the male supervisors would be upset and the female supervisors might comprehend the total situation and want back pay. The HR director told Black that the female supervisors had never complained about pay differences. The HR director agreed to take a sizable salary increase with no back pay, so this part of the problem was solved.

Question 1. what kind of salary inequity prevailed in Acme?

 position inequity

 external inequity

 performance ineuity

 all of the above

Question 2. Job evaluation in the case study refers to?

 evaluationg performance of employees

evaluating work done by employees

 evaluating salary per job

 all of the above

Question 3. How did the company get into such a situation?

inappropriate job analysis

 inappropriate job evaluation

 inappropriate performance management

 inappropriate recruitment & selection

Question 4. Which amongst the below are not method of job evaluation

 Ranking method

 Field survey

 Paired Comparision

 Management by Objective

Question 5. what sequence of procedure Black should follow

 job analysis then job evaluation

 job evaluation followed with job analysis

 either can be done

 both are not required

Question 6. Black should pay ………………. to Jobs lying in the same job cluster

 same salary

 different slary

 same salary range

 different salary range

Question 7. How did the management decide salary prior to Black joining in?

 Based on jab analaysis

 Based on job evaluation

 based on negotiations

 none of the above

Question 8.  the horuly workers salary was fixed with the help of

 Job evaluation

 negotiations

 job analysis

 none of the above

Question 9.  compensation of the employee include

 base salary

 incentive

 paid holidyas

 all of the above

Question 10. If you were Black, what would you have done about salary related to female supervisors

 To do nothing

 To gradually increase the female supervisors salaries

 To increase their salaries immediately

 To call the three supervisors into his office, discuss the situation with them, and jointly decide what to do.

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2nd Module Assessment

CASE STUDY


In the mid-1980s Xerox corporation was faced with a problem—its performance appraisalsystem was not working. Rather than motivating the employees, its system was leaving them discouraged and disgruntled. Xerox recognized this problem and developed a new system toeliminate it.
Old Performance Appraisal System
The original system used by Xerox encompassed seven main principles:1.The appraisal occurred once a year.2.It required employees to documenet their accomplishments.3.The manager would assess these accomplishments in writing and assign numerical ratings.4.The appraisal included a summary written appraisal and a rating from 1 (unsatisfactory)to 5 (exceptional).5.The ratings were on a forced distribution, controlled at the 3 level or below.6.Merit increases were tied to the summary rating level.7.Merit increase information and performance appraisals occurred in one session.This system resulted in inequitable ratings and was cited by employees as a major source of dissatisfaction. In fact, in 1983, the Reprographic Business Group (RBG), Xerox’s main copier division, reported that 95 percent of its employees received either a 3 or 4 on their appraisal.Merit raises for people in these two groups only varied by 1 to 2 percent. Essentially, across-the- board raises were being given to all employees, regardless of performance.
New Performance Appraisal System
Rather than attempting to fix the old appraisal system, Xerox formed a task force to create a new system from scratch.The task force itself was made up of senior human resources executives;however, members of the task force also consulted with councils of employees and a council of middle managers.Together they created a new system, which differed form the old one in many key respects:1.The absence of a numerical rating system.2.The presence of a half-year feedback session.3.The provision for development planning.4.Prohibition in the appraisal guidelines of the use of subjective assessments of  performance.The new system has three stages, as opposed to the one-step process of the old system. These stages are spread out over the course of the year. The first stage occurs at the beginning of the year when the manager meets with each employee. Together, they work out a written agreement on the employee’s goals, objectives, plans, and tasks for the year. Standards of satisfactory performance are explicitly spelled out in measurable, attainable, and specific terms.The second stage is a mid-year, mandatory feedback and discussion session between the manager and the employee. Progress toward objectives and performance strengths and weaknesses are discussed, as well as possible means for improving performance in the latter half of the year.Both the manager and the employee sign an “objectives sheet” indicating that the meeting took  place.The third stage in the appraisal process is the formal performance review, which takes place at year’s end. Both the manager and the employee prepare a written document, stating how well the employee met the preset performance targets. They then meet and discuss the performance of the employee, resolving any discrepancies between the perceptions of the manager and the employee. This meeting emphasizes feedback and improvement. Efforts are made to stress the positive aspects of the employee’s performance as well as the negative. This stage also includes a developmental planning session in which training, education, or development experiences that can help the employee are discussed. The merit increase discussion takes place in a separate meeting from the performance appraisal, usually a month or two later. The discussion usually centers on the specific reasons for the merit raise amount, such as performance, relationship with peers, and position in salary range. This allows the employee to better see the reasons behind the salary increase amount, as opposed to the summary rank, which tells the employee very little.A follow-up survey was conducted the year after the implementation of the new appraisal system. Results were as follows: 81 percent better understood work group objectives, 84 percent considered the new appraisal fair , 72 percent said they understood how their merit raise was determined, 70 percent met their personal and work objectives, 77 percent considered the system a step in the right direction In conclusion, it can be clearly seen that the new system is a vast imporvement over the previous one. Despite the fact that some of the philosophies, such as the use of self-appraisals, run counter to conventional management practices, the results speak for themselves.

Question 1. According to the forced ditribution method the employees were forced into how many groups in the old performance appraisal system

 a. continuously distributed evenly in many groups

 b. no groups formed at all

 c. two major gorups were formed

 d. all employees were ranked in the same group

Question 2. Merit pay given to employees are part of ……..?

 a. incentive

 b. increase in base pay

 c. bonus

 d. all of the above

Question 3. the new performance appraisal system is

 a. past oriented

 b. future oriented

 c. both

 d. 360 degree based

Question 4. the old performance appraisal system was…..

 a. past oriented

 b. future oriented

 c. both

 d. performance management oriented

Question 5. what kind of biasness was involved in the old performance appraisal system?

 a. biasness of central tendency

 b. recency effect

 c. halo effect

 d. stereotyping

Question 6. what kind of performance system was the new one?

 a. self appraisal

 b. mbo

 c. 360 degree feedback

 d. ranking system

Question 7. What was the major cause of dissatisfaction amongst the employees?

 a. biaseness in rating

 b. no proper system of performance appraisal

 c. absence of feedback

 d. all of the above

Question 8. which amongst the below are not future oriented method of performance appraisal?

 a. 360 degree

 b. MBO

 c. 720 degree

 d. Graphic rating scale

Question 9. which mehtod was more objective?

 a. old appraisal method

 b. new appraisal method

 c. both were equally objective

 d. none of the above

Question 10. which of the statement is correct?

 a. performance appraisal is a sub set of performance management

 b. performance management is a subset of performance appraisal

 c. both are same

 d. both are not related

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3rd Module Assessment

CASE STUDY

Cadbury made life sweeter for workers
Housing and education were key features of the employee benefits package at Cadbury Brothers in 1952, thanks to founder John Cadbury’s sons.
In 1861, Richard and George Cadbury took over management of the Cadbury factory on Bridge Street, Birmingham, and began to take an interest in employees’ welfare. They created a new factory outside
Birmingham, which they named Bournville, which became known as ‘the factory in the garden’.
In 1895, the brothers built housing for their workforce, which turned into the Bournville Village Trust in 1900.
Young staff attended the Bournville Day Continuation College for one day a week until they were at least 18 years old. Cadbury-funded scholarships were available on graduation.
Shop committees were the first point of contact for employees’ work-related issues, except wages and hours, which were negotiated by trade unions.
Savings vehicles included the Bournville Pension Fund, into which employers and staff made contributions.
There was sick pay of up to 90% of base wage, and Workers’ Funds available for prolonged illness. A Dependant’s Provident Fund paid a lump sum to the next of kin if a male worker died under the age of 65.

Question 1. Employee stock ownership plan is a?

 a. long term incentive

 b. short term incentive

 c. can be both

 d. it is not an incentive

Question 2. Provident fund is a?

 a. short term investment

 b. long term investment

 c. moderate investment

 d. does not depend on time

Question 3. scholorship given at Cadburry would be considered as a?

 a. incentive

 b. bonus

 c. employee benefit

 d. increment

Question 4. the salary given to employees were in which form?

 a. consolidated

 b. on pay grade

 c. no such information is given

 d. both a and b

Question 5. which form of compenastion is given to employees at Cadburry?

 a. direct compenation

 b. indirect compensation

 c. long term benefits

 d. all of the above

Question 6. which Maslows need is the benefit plan at Cadburry focusing to?

 a. Self esteem

 b. Social need

 c. physiological need

 d. self actualisation

Question 7. which of the below Cadbury does not have according to the case study?

 a. grievaiance handling

 b. bargaining and negotiation

 c. employee welfare

d. mentoring

Question 8. which of the below is not a component of direct compensation

 a. salary

 b. wage

 c. incentive

 d. all are part of dircet compensation

Question 9. Which of the below is not a part of employee benefits?

 a. scholorship

 b. incentive

 c. provident fund

 d. housing facility

Question 10. Which statement is not correct?

 a. salary and wage are different from each other

 b. incentive and increment are synonyms for each other

 c. bonus is different from incentive

 d. any kind of insurance cover given to employees is a part of compensation

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4th Module Assessment

CASE STUDY

Companies continually test ways to incent employees to perform more effectively, often turning to worker-motivation tools such as bonuses, “up or out” employee ranking tournaments, and employee of the month rewards.

Behavioral scientists warn that these programs, if not constructed carefully, can open a box full of unintended consequences that ultimately harm rather than help the organization.

The financial crisis of 2008 was partially fueled by origination bonuses paid to bank loan officers who were incented to approve bad loans. Less well understood, but uncovered in HBS research several years ago, is that those bank bonuses also caused loan officers to perceive reality differently—they believed those loans would succeed.

It’s not just financial incentives that are under study. Employers seek to change the behavior of workers in all manner of ways: to make more ethical decisions, to get flu shots, to lose weight, to be wiser about personal financial planning. Behavioral scientists are becoming the new HR superstars in some organizations.

Research through the years at Harvard Business School has explored this good intentions-bad outcomes dilemma in many settings, from the glitzy world of Las Vegas to steamy laundry plants in Asia. The results these studies have uncovered are important to understand for org designers, compensation committees, and any function such as sales that depends on incentives to drive performance.

Question 1 : Biased incentives will result to what kind of employees

 a. satisfied

 b. motivated

 c. dissatisfied

 d. nuetral

Question 2. Group pay-incentive plan designed to motivate employees in improving the productivity of their workgroup through more efficient use of resources is called as

 a. gain sharing

 b. esop

 c. bonus

 d. profit sharing

Question 3. incentives are primarily dependent on

 a. profit

 b. sales

 c. productivity

 d. all of the above

Question 4. Is the statement true “incentives impact behaviour of employees”?

 a. absolutely true

 b. somewhat true

 c. FALSE

 d. none of the above

Question 5. Pick up the odd one out

 a. gain sharing

 b. esop

 c. bonus

 d. profit sharing

Question 6. When incentives are planeed, the target or goals set should be

 a. realisitc

 b. difficult to achieve

 c. easy to achieve

 d. unrealistic

Question 7. Which amongst the below will help employee to stay motivated

 a. incentive

 b. training

 c. flexible working environment

d. all of the above

Question 8. Which is a type of incentive?

 a. merit pay

 b. base pay

 c. hourly pay

 d. bonus

Question 9. Which need of Maslow’s hierarchy theory will not be fulfilled by giving incentives but will be more accomplished by giving recognition

 a. Physiological need

 b. Safety Need

 c. Social Need

 d. Self esteem need

Question 10. Which of the below concept is not related to compensation

 a. Adam’s equity theory

 b. Vroom’s expectancy theory

 c. ERG theory

 d. Kirk Patrick model

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5th Module Assessment

CASE STUDY

Clare Bettelley speaks to Luke Savage about insurance market Lloyd’s titanic battle to retain employees at the not-for-profit Corporation
The challenge in attracting staff to Lloyd’s, the specialist insurance market formally known as Lloyd’s of London, is compounded by the fact that it is a not-for-profit organisation and lacks the ability to lure prospective staff with share schemes and lucrative stock and option awards. As part of its answer to responding to the competition for talent in the provider-rich global insurance market, the Corporation is in the throes of rolling out a cash bonus scheme.
Luke Savage, director, finance, risk management and operations at Lloyd’s, has been instrumental in the creation of a retention-focused scheme for its 700-strong staff, entitled the Lloyd’s Performance Plan. “When you’re a not-for-profit organisation, [you] need to counter the appeal of people being able to leave when the market’s doing well,” he says.
Bonuses are based on the Corporation’s pre-tax profit for the last full financial year multiplied by a percentage based on employee grade, which is then multiplied by salary. For example on a profit of £2.5 billion someone earning £50,000 a year would receive 12.5% of their salary.
“We had looked at far more complex ideas that effectively created shadow investment schemes to follow the results of the shares of the listed vehicles in the market, but we [decided to keep] it very simple, specifically to make it easier for people to understand.”
Long-term incentive plan
Savage says that he expects the cost of the scheme to be absorbed through Lloyd’s members’ annual subscriptions. “The scheme has been calibrated so that we should be able to operate it without having to go back to the market for more money.”
The scheme is open to all staff and capped according to their grades. It will supersede Lloyd’s existing executive long-term incentive plan (L-tip). On whether executives can earn more than is possible under their existing L-tip, Savage says: “For a given level of profit and a given point in the cycle, one may or may not earn more. The reason I’m being cagey is that the old scheme looked at average results over three years on one basis while the new scheme looks at results for a particular year on a different basis, so the amount you get paid, will vary as a function of where you are in the cycle.”
Awards under the old L-tip were calculated as a percentage of the Corporation’s aggregate profits for the relevant three-year period for each £1m of participants’ salaries.
Savage’s estimated long-term bonus as at 31 December 2006 was £13,000, which increased to £19,000 with the addition of his performance bonus.
“As a Corporation we have to pay a lot more attention to our reward package and work a lot harder by making sure that we provide an overall attractive package to [all] our staff – [not simply] those who have equity.”
Hence, Lloyd’s offers staff a number of non-financial rewards. It offers a defined benefit (DB) pension scheme, which it shifted from final salary to career average for new joiners in 2005. “It was part of a means to manage our risk to the Corporation in the long term. But we made a very clear choice not to close a DB scheme in favour of a defined contribution scheme. We think the DB scheme is valuable to people, certainly for the more mature members of staff, so while we’ve modified the terms, we have kept that scheme open,” he says. The Corporation also introduced employee contributions of 5% for most staff.
Savage says he manages reward costs as part of the ongoing programme of driving efficiency through the Corporation. “Take the area that looks after all the assets we hold on behalf of members – ‘market services’. We’ve managed to shrink its head count by 50% in the last five years and with the savings generated, we’ve invested in new heads in growing areas or made sure that the reward for the rest of our staff stays in line with the market.”
Lloyd’s core benefits Basic employee benefits for new joiners (excluding executives): • Lloyd’s Performance Plan and a performance-related bonus • Career average defined benefit pension with 5% employer contribution • Life assurance • 25 days minimum holiday allowance • Flexible benefits, including private medical insurance, childcare vouchers, additional holiday, cycle-to-work scheme • Car or cash alternative (for managers)

Question 1.  Are the non financial benefits considered as a part of compensation?

 a. yes

 b. no

 c. depends on the benefit given

 d. depends upon the position you are giving the benefit

Question 2. Cafetaria plans comes under?

 a. direct incentive

 b. fringe benefits

 c. flexible benefit

 d. non monetary benefit

Question 3. In which of the below scheme both employer and employee contributes together?

 a. pension scheme

 b. esop

 c. paid holiday

 d. paid maternity leaves

Question 4. The entire case study is based on deciding ________________

 a. direct compensation

 b. indirect compensation

 c. both a and b are correct

 d. perfromance compensation

Question 5. The purpose of compensation setting in Lloyd is to _______

 a. increase employee’s performance

 b. make recrtuitment easy

 c. need recognition of employees

 d. retaining employees

Question 6. What type of compensation system exist in Lloyd?

 a. Grading system

 b. Direct compensation

 c. Indirect compensation

 d. all of the above

Question 7. which according to you is not linked with performance?

 a. Incentive

 b. increment

 c. bonus

 d. promotion

Question 8. which amongst the below perquisite is being given by Lloyad to its staff?

 a. pension scheme

 b. life insurance

 c. gratuity

 d. Vouchers

Question 9. Which statement is true for Lloyd’s organsation

 a. Bonus is given to all the employees

 b. Bonus is linked to performance

 c. both a and b are correct

 d. none of the above

Question 10. ______________ is a systematic approach used by Lloyd’s to provide monetary values to employees

 a. Salary

 b. Allowance

 c. Compensation

 d. Rewards

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Assignment 2

CASE STUDY

Multi-sector giant GE faced a huge challenge in trying to harmonise perk for its 19,000 employees and the key was a new flexible benefits scheme, says Rebecca Patton
GE introduced a flexible benefits scheme for its entire 19,000-strong UK workforce last November in an effort to harmonise the benefits it offers across its four main business divisions (see below).
Before the arrival of the scheme, which is called FlexChoice and provided by Vebnet, each of the businesses operating within the four divisions, which span the aviation, healthcare, energy solutions and finance sectors, ran their own, separate payroll, HR, and compensation and benefits teams, and the benefits they offered varied widely. For example, employee access to GE’s 30-plus mostly defined contribution (DC) pension schemes and private medical insurance (PMI) plan was inconsistent across the group.
Core levels of benefits now available to all GE employees via FlexChoice include PMI, provided by Cigna HealthCare, life assurance, group income protection (GIP) and two DC pension schemes provided by Legal and General and Aviva, respectively. A third DC scheme, provided by Phoenix Life, is closed to new members.
GE also offers a range of voluntary benefits through FlexChoice, including childcare vouchers, bikes for work, life insurance for employees and their partners, gym membership and travel insurance. A health reimbursement
plan offers staff £60 each to spend on products and services to keep them healthy, such as trainers or exercise equipment.
Employees also have access to a health and wellbeing savings scheme, with GE matching staff contributions up to a maximum of £300.
Kerrie Rowland, UK pensions and benefits manager at GE, says: “Flex was the tool with which we could deliver the harmonisation and at the same time offer flexibility. For example, for those who had never had medical benefits before, if they didn’t want to have these going forward and [wanted to] maintain the status quo, that was absolutely fine. The scheme allowed for them to take the baseline benefit through flex and then flex up.”
GE also restructured its pension arrangements before launching the flex platform. This involved consolidating its 30-plus schemes, which were mostly DC. In addition to its DC schemes, GE now has six defined benefit (DB) plans that are all closed to new entrants.
Boosted take-up
Rowland says the closure of GE’s DB pension schemes to new members helped to boost the take-up of benefits under FlexChoice, which stood at 96% in year one. “The take-up for year one was phenomenal and was largely because we closed the DB plan and people had to go in and tell us which pension plan they wanted to be a member of. If they didn’t go in and tell us they wanted to continue being a member of the DB plan, they would have to be defaulted out [of the scheme], the default being the DC plan.”
GE is currently recruiting employee volunteers as ‘pension pioneers’ to help it communicate its pensions strategy more consistently across the business, as well as to relay employee concerns and queries back to the organisation.
Despite its success in communicating its pension schemes, Rowland says communication was one of the biggest challenges in implementing FlexChoice. “There are nearly 20,000 employees to be communicated to and consult with, all at the same time, on some fairly significant changes,” she says. “Even on the basics, we found our employees were very unfamiliar with considering a pension to be a benefit. To them, it is a contractual right, not a benefit.”
Exacerbating the communications challenge was the fact that so many GE sites are run as self-contained businesses in locations without internet access, nullifying email and website strategies. There were also employees who preferred traditional face-to-face consultation.
Nevertheless, Rowland says the benefits of implementing FlexChoice far outweigh the challenges. One of the biggest advantages is replacing several flex enrolment windows a year with just one.
Rowland adds: “There is one method of understanding throughout the HR department, there is one system, there is one change for everybody unless they have a life event, and a lot of the systems are connected to one another, so updates are made automatically.”
Future additions
GE is now planning future additions to its flexible benefits plan, says Rowland. “For next year, we are going to be adding a benefit from My Family Care. This is largely back-up care and also access to a provider that can find care for [employees], not just childcare but also elder care, which works well for our diversity objectives.
“We will also be expanding the health reimbursement account. Other than that, we don’t anticipate too many changes into year two because, with a flex plan, you just need to be there to work on comfort levels and you can’t do that if you are constantly changing the plan.”
GE’s expansion of its health reimbursement account will see the plan repositioned to focus on employees’ lifestyles and work-life balance, with the account possibly being renamed to reflect this shift. This means employees will be able to use the benefit to pay for treatments designed to improve work-life balance, such as acupressure and massage, as well as for relevant further education courses.
GE also plans to enable employees to use health reimbursement to fund gym membership. Rowland says: “We have looked at what our overall objective is and what we are trying to achieve with this account, and the point is, we are trying to say to employees that we want them to be healthy and have a life outside of the organisation which is supported by GE.”
GE’s implementation of FlexChoice resulted in it being highly commended in the ‘Most effective use of a flexible benefits plan’ category at the 2012 Employee Benefits Awards.

Question 1. According to total rewards approach, the variable pay of the employee is

a. added into base pay

b. subtracted from base pay

c. multiplied to base pay

d. . divided to base pay

 Question 2. As the GE HR Head, what would have been the biggest challenge that you would have faced in such scenario?

a. prepering the compenastion Plan

b. communicating the plan and convincing employees

c. getting money for so much of workers benefit

d. no problem at all as GE is a big professional organisation

 Question 3. Flex choice introduced by GE are examle of____________

a. cafetaria plans

b. basket benefits

c. flexible benefits

d. all of the above

 Question 4. Flexible benefit introduced by GE pertains to which theory?

a. Maslow’s theory

b. ERG theory

c. Vroom’s expectancy theory

d. all of the above

 Question 5. Pension accordint to you is a ___________

a. expense

b. contractual right

c. perquisite

d. fringe benefit

 Question 6. The benefits introduced by GE are linked to ___________

a. performance

b. position

c. person

d. all of the above

 Question 7. The indirect compensation been included by GE would be categorised in _______________

a. base pay

b. benefits

c. variable pay

d. salaries

Question 8. The systematic way GE will be using to determine the worth of all the jobs will be________________

a. compensable evaluation

b. job evaluation

c. benchmark job

d. . job promotion structure

 Question 9. Which beneffit would employees try to gain when they want to achive their social needs?

a. insurance policy

b. health benefit

c. dicounted vouchers

d. flexible work timings

 Question 10. Which is the equity that GE will have to ensire while fixing the benefit plan?

a. internal equity

b. external equity

c. procedural equity

d. performance equity

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Organizational Design & Structural Process (EDL 410)- Semester 4

Organizational Design & Structural Process (EDL 410)- Semester 4

 

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1st Module Assessment

CASE STUDY

The Coca-Cola Company is truly global, and its main product is recognised and consumed worldwide. The Company organises and structures itself in a way that reflects that fact. At the same time, the Company looks to meet the particular needs of regional markets sensitively and its structure also needs to reflect that fact. This Case Study illustrates the way in which the Company has built an organisational structure that is robust and yet also flexible enough to meet these particular requirements.The Coca-Cola Company is the world’s largest beverage company and is the leading producer and marketer of soft drinks. The Company markets four of the world’s top five soft drinks brands: Coca-Cola, Diet Coke, Fanta and Sprite. The success of The Coca-Cola Company revolves around five main factors: A unique and recognised brand – Coca-Cola is among the most recognised trade marks around the globe :- Quality – consistently offering consumers products of the highest quality ; Marketing – delivering creative and innovative marketing programmes worldwide; Global availability – Coca-Cola products are bottled and distributed worldwide; Ongoing innovation – continually providing consumers with new product offerings e.g. Diet Coke (1982), Coca-Cola Vanilla (2002).

Although Coca-Cola is a global product with universal appeal, the Company actually operates in local environments around the world, with each country having its own unique needs and requirements. So while Coca-Cola is probably the only product in the world that is universally relevant in every corner of the globe, the Company feels that its responsibility is to ensure that with every single can or bottle of Coca-Cola sold and enjoyed, individual connections are made with their consumer. That can only be achieved at a local level.

The challenge facing The Coca-Cola Company today is therefore to continue to build an organisational structure that will deliver a global and local strategy. An organisation’s strategy is its plan for the whole business that sets out how the organisation will use its major resources. An organisation’s structure is the way the pieces of the organisation fit together internally. It also covers the links with external organisations such as partners.

For the organisation to deliver its plans, the strategy and the structure must be woven together seamlessly. The goal of The Coca-Cola Company is ‘to be the world’s leading provider of branded beverage solutions, to deliver consistent and profitable growth, and to have the highest quality products and processes.’ To achieve this goal, the Company has established six strategic priorities and has built these into every aspect of its business: Accelerate carbonated soft drinks growth, led by Coca-Cola ; Broaden the family of products, wherever appropriate e.g. bottled water, tea, coffee, juices, energy drinks ; Grow system profitability & capability together with the bottlers ;Creatively serve customers (e.g. retailers) to build their businesses ; Invest intelligently in market growth ; Drive efficiency & cost effectiveness by using technology and large scale production to control costs enabling our people to achieve extraordinary results everyday.

There are many ways to structure an organisation. For example, a structure may be built around:function: reflecting main specialisms e.g. marketing, finance, production, distribution. ; product: reflecting product categories e.g. bread, pies, cakes, biscuits ; process: reflecting different processes e.g. storage, manufacturing, packing, delivery.

Organisational structures need to be designed to meet aims. They involve combining flexibility of decision making, and the sharing of best ideas across the organisation, with appropriate levels of management and control from the centre. Modern organisations like The Coca-Cola Company, have built flexible structures which, wherever possible, encourage teamwork. For example, at Coca-Cola Great Britain any new product development (e.g. Coca-Cola Vanilla) brings together teams of employees with different specialisms.

At such team meetings, marketing specialists clarify the results of their market research and testing, food technologists describe what changes to a product are feasible, financial experts report on the cost implications of change. The Coca-Cola Company has a corporate (Head Office) segment that is responsible for giving the Company an overall direction and providing support to the regional structure.

Key strategic decisions at The Coca-Cola Company are made by an Executive Committee of 12 Company Officers. This Committee helped to shape the six strategic priorities set out earlier. The Chair of the Executive Committee acts as a figurehead for the Company and chairs the board meetings. He is also the Chief Executive Officer (CEO) and as such he is the senior decision maker. Other executives are responsible either for the major regions (e.g. Africa) or have an important business specialism e.g. the Chief Financial Officer.

As a company whose success rests on its ability to connect with local consumers, it makes sense for The Coca-Cola Company to be organised into a regional structure which combines centralisation and localisation. The Company operates six geographic operating segments – also called Strategic Business Units (SBUs) – as well as the corporate (Head Office) segment.

Each of these regional SBUs is sub-divided into divisions. Take the European union, SBU, for example. The UK fits into the Northwest Europe division. This geographical structure recognises that: markets are geographically separated ; tastes and lifestyles vary from area to area. As do incomes and consumption patterns ; markets are at different stages of development.

At a more local level the management of The Coca-Cola Company involves a number of functional specialisms. The management structure for Great Britain illustrates this. The structure of Coca-Cola Great Britain combines elements of centralisation and decentralisation. Divisions and regions operate as business unit teams, with each Director reporting to the General Manager, i.e. Division President. However, there is a matrix structure for each function e.g. the Finance Director in the GB Division reports to the GB President, but also to (dotted line) the Finance Director of North West Europe Division. In addition, functions within the Company operate across geographical boundaries to share best practice.

To take another example of local decision making at a regional (local) level the various SBUs are responsible for region-specific market research, and for developing local advertising, e.g. using the languages of the countries in which The Coca-Cola Company operates. A major region like Great Britain has its own marketing structure, organised as shown on the diagram.

The way The Coca-Cola Company works reflects the many countries and cultures in which it does business. It owns or licences nearly 400 brands in non-alcoholic beverages serving consumers in over 200 countries. An essential part of the organisation’s structure therefore focuses on ensuring that individual products are given the best possible support in regional markets.

Within the Company, different teams concentrate on particular products and use their specialist knowledge of the brands and consumer needs to support the sales and promotional effort. In some cases a product is developed solely for local consumption and an example of this is the product Lilt, which is only available in Great Britain and Ireland.

Examples of other products available in Great Britain include:

• Carbonated soft drinks- Coca-Cola, Fanta, Sprite

• Juice & juice drinks- Schweppes’ Tomato Juice Cocktail, Oasis, Five Alive

• Waters- Malvern

• Energy drinks- Burn

• Sports drinks- Powerade

• Squashes/cordials- Kia-Ora, Rose’s Lime Cordial.

Structuring an organisation is not only about organising internal relationships, it also involves external ones. The Coca-Cola Company has built well-structured relationships with a range of external groups including bottling partners.

People often assume that The Coca-Cola Company bottles and distributes its own beverages. For the most part, it does not. The Company’s primary business consists of manufacturing and selling beverage concentrates and syrups – as well as some finished beverages – to bottling and canning operations and other distributors.

The concentrates and syrups are generally sold to bottling partners, which are authorised to manufacture, distribute and sell branded products. The business system consisting of The Coca-Cola Company and bottling partners is referred to as ‘the Coca-Cola system’.

The relationship The Coca-Cola Company has with its bottlers worldwide is a key source of strength. The Company works together with them to ensure that concentrates and syrups are made into finished beverages that are produced and distributed to consumers around the globe with unmatched quality and service.

Every organisation has not only a structure but also a culture. ‘Culture’ describes the typical way an organisation does things, including patterns of behaviour and relationships.

Important aspects of culture at Coca-Cola Great Britain (which reflect the culture of The Coca-Cola Company as a whole) are an emphasis on teamwork, and empowerment. Coca-Cola Great Britain sees its employees as its most important asset.

Motivated employees provide the engine that drives the Company’s growth. Organising people into teams (e.g. marketing, sales or product teams) encourages people to feel valued. Within a team they are encouraged to contribute ideas and to be innovative. If they feel that something could be done better they are encouraged to voice that opinion.

By creating a friendly, innovative culture, Coca-Cola Great Britain is able to depend on a high quality workforce that helps it to maintain brand leadership in Great Britain and in every other market in which it operates. Trust is at the heart of every relationship, whether it be:

• customers’ and consumers’ trust that the Company will provide the highest level of service and attention to their needs

• bottling partners’ trust that the Company is operating in the best interests of the Coca-Cola system

• employees’ trust that their contribution is being valued in an open culture.

Open communication channels provide the means to support a culture based on relationships. Coca-Cola has a number of communication channels, including:

• monthly leadership team meeting (involving function heads)

• weekly department team meetings

• monthly employee team briefing sessions

• consultative employee groups for each region (with representatives meeting in a European Council)

• surveys to monitor employee views and feelings.

• The Coca-Cola Company has built internal and external structures to support the delivery of its business goals. The regional structure is the best way of supporting this growth, allowing attention to local requirements while at the same time building on a clear strategic direction from the centre.

•A culture of innovation, teamwork and partnership means that the Company has a firm foundation of relationships and open communication channels on which to build its growth.

Question 1: An Organisational structure may be built around____?

 a. function

 b. product

 c. processes

 d. All of above

Question 2. As discusses in this case study, By creating a friendly, innovative culture, Coca-Cola Great Britain is able to depend on a _______ that helps it to maintain brand leadership in Great Britain and in every other market in which it operates

 a. competitor

 b. high quality workforce

 c. business environment

 d. All of above

Question 3. As per this case study, the geographical structure recognises that____

 a. markets are geographically separated

 b. tastes and lifestyles vary from area to area, As do incomes and consumption patterns

 c. markets are at different stages of development

 d. All of above

Question 4. Every organisation has not only a structure but also a culture. ‘Culture’ describes : ( a) the way an organisation does things (b)patterns of behaviour and relationships

 a. Only a

 b. only b

 c. both a & b

 d. none of these

Question 5. In this case study, Key strategic decisions at The Coca-Cola Company are made by______

 a. Executive Committee of 20 Company Officers

 b. Company Committee of 15 Company Officers

 c. Executive Body of 18 Company Officers

 d. Executive Committee of 12 Company Officers

Question 6. Modern organisations like The Coca-Cola Company, have built ____ structures which, wherever possible, encourage _____

 a. inflexible , collision

 b. flexible, teamwork

 c. strong, competency

 d. None of above

Question 7. The challenge with the Coca-Cola Company was to continue to build an organisational structure that will______

 a. itself create a global impact

 b. deliver a global and local strategy

 c. Both A & B

 d. None of these

Question 8. The Coca-Cola Company has built _____ to support the delivery of its business goals. ( a) internal structure (b)external structures

 a. Both a & b

 b. only b

 c. only a

 d. none of these

Question 9. The structure of Coca-Cola Great Britain involve the element of : (a) centralisation ( b)decentralisation

 a. Both a & b

 b. only a

 c. only b

 d. None of these

Question 10. The success of The Coca-Cola Company revolves around which of the following factor?

 a. Quality

 b. Global availability

 c. Both A & B

 d. None of these

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2nd Module Assessment

Case Study

Every organisation has to work within a framework of certain environmental forces and there is a continuous interaction between the organisation and its environment. The impact of environment on organization is manifold. The interaction suggests a relationship between the two. This relationship can be analyzed in three ways.

First, the organisation can be thought of as an input-output system. It takes various inputs-human, capital, technical-from the environment. These inputs are transformed to produce outputs-goods, services, profits-which are given back to the environment. Thus, the organisation merely performs the function of input-output mediator. In this process, the environment in its interaction with the internal factors of the organisation will determine what kind of inputs should be taken or outputs given.

the organisation can be taken as the central focus for realizing the contributions of many groups, both within and outside the organisation. When these groups contribute to the well being of the organisation, they must have a legitimate share in organizational outputs. These groups may be employees, consumers, suppliers, shareholders, movement, and the society in general. Thus, the organizational functioning will be affected by the expectations of these groups and the organisation has to take these factors into account.

Third, the organisation can be treated as operating in environment presenting opportunities and threats to it. Thus, how an organisation can make the best use of the oppm.lunities provided or threats imposed is a matter of prime concern for it. Any single approach by itself is insufficient to explain the complex relationship between the organisation and its environ-ment-Moreover, these approaches are not inconsistent to each other; they are complementary. Thus, an organisation will be affected by the environment in which it works.

The environment-organisation interaction has a number of implications from strategic management point of view.

The environmental forces may affect different parts of the organisation in different ways because different parts interact with their relevant external environment. For example, the technological environment may affect the organization’s R & D department. Further, these forces of the environment may have direct effect on some parts but indirect effect on others. For example, any change in the fiscal policy of government may affect the finance department directly but it may affect production and marketing indirectly because their program may be recasted in the light of new situation, though not necessarily.

The environmental influence process is quite complex because most things influence all other things. For example, many of the environmental forces may be interacting among themselves and making the impact on the organisation quite complex. Moreover, the impact of these forces on the organisation may not be quite deterministic because of interaction of several forces. For example, the organisation structure will be determined on the basis of management philosophy and employee attitudes. But the organisation structure becomes the source for determining the employee attitudes. Thus, there cannot be direct and simple cause-effect relationship rather much complexity is expected.

The organizational response to the environmental forces may not be quite obvious and identical for different organizations but these are subject to different internal forces. Thus, there is not only the different perception of the environmental forces but also their impact on the organisation. Key factors determining responses to environmental impact may be managerial philosophy, life cycle of the organisation, profitability, etc.

The impact of environmental forces on the organizations is not unilateral but the organizations may also affect the environment. However, since the individual organizations may not be able to put pressure on the environment, they often put the pressure collectively. Various associations of the organizations are generally formed to protect the interest of their members. The protection of interest certainly signifies the way to overcome unilateral impact of the environment on the organizations. The nature of organisation-environment interaction is such that organizations, like human species or animals, must either adjust to the environment or perish.

Question 1. An analysis of the external environment enables a firm to identify____

 a. Strengths and opportunities

 b. Strength and weakness

 c. Weakness and threats

 d. Opportunities and threats

Question 2. An organization’s __________ embraces the behavior, rituals, and shared meaning held by employees that distinguishes that organization from all others.

 a. external environment

 b. Culture

 c. Dominant Culture

 d. Ethics

Question 3. Applying rationality to understand the sources and possible effects of environmental factors and to determine the organization’s opportunities and threats is called_____

 a. work analysis

 b. environmental analysis

 c. statistical analysis

 d. None of the above

Question 4. Customs, mores, values, and demographic characteristics of the society in which the organisation operates are what made up the _______ of the general environment.

 a. Political dimension

 b. technological dimension

 c. socio-cultural dimension

 d. Legal dimension

Question 5. The economic environment of a business includes_____

 a. Economic System

 b. Economic Policies

 c. Economic Conditions

 d. All of Above

Question 6. The term environmental scanning stands for____

 a. collecting information about the shareholders

 b. gathering data about the organization and its surroundings

 c. gathering information relating to the employees

 d. None of the above

Question 7. Which of the following is not an example of an internal environment?

 a. employees

 b. office and plant layout

 c. Competition

 d. reward system

Question 8. Which one is not an element of internal environment?

 a. Marketing capabilities

 b. Operational Capabilities

 c. Money and capital market

 d. Personal Capabilities

Question 9. Which one of the following is not a part of the external environment of an organization?

 a. Social Factors

 b. Legal Factors

 c. Political Factors

 d. Organisational Culture

Question 10. ____consists of economic conditions, economic policies , industrial policies and economic system.

 a. Business Environment

 b. Natural Environment

 c. Economic Environment

 d. Technological environment

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3rd Module Assessment

Case Study

Organizational structure is a system used to define a hierarchy within an organization. It identifies each job, its function and where it reports to within the organization. This structure is developed to establish how an organization operates and assists an organization in obtaining its goals to allow for future growth. The structure is illustrated using an organizational chart.

Several types of organizational structures are each defined to meet the needs of organizations that operate differently. Types of organizational structure include divisional, functional, geographical and matrix. A divisional structure is suitable for organizations with distinct business units, while a geographical structure provides a hierarchy for organizations that operate at several locations nationally or internationally. A functional organizational structure is based on each job’s duties. A matrix structure, which has two or several supervisors for each job to report to, is the most complicated but may be necessary for large organizations with many locations and functional areas.

Centralization

Although there are many types of organizational structures developed to meet each organization’s needs, all of them provide a hierarchy that reports to a centralized location and group of executives. The highest ranking member of an organizational chart is one or several top executives referred to as the president, chief executive officer or chief operating officer.

When an organizational structure is designed, job descriptions can be developed to not only meet an organizations goals, but allow for organizational and employee growth. Internal equity and employee retention are a key to successful operations. Recruitment is also one of the highest investments for organizations, so ensuring employees have promotional opportunities and job security can assist in reducing recruitment costs.

Organizational structure is also a fundamental core to create salary structures for an organization. Once the structure is established, salary ranges can be created for each job in the organization. In most cases, each job is aligned to a salary grade, and each grade has a specified salary range. This allows an organization to meet its financial goals and ensures salaries are distributed fairly within financial budgets.

If an organization expands, the organizational structure allows room for growth. This can include adding additional layers of management, new divisions, expanding one or several functional areas or appointing additional top executives. When the structure is reorganized for expansion, it provides the foundation to edit salaries and job descriptions quickly and efficiently with minimal disruption to an organization’s operations.

Question 1. Departmentation is a process where

 a. Tasks are grouped into jobs

 b. Jobs are grouped into effective work groups

 c. Work groups are grouped into identifiable segments

 d. All of the above

Question 2. Functional structures help to create……

 a. multi-skilled employees

 b. teamwork

 c. specialization

 d. project-work groups

Question 3. Organizational structure is a system used to define a _____ within an organization.

 a. goals

b. hierarchy

 c. objectives

 d. none of these

Question 4. Specialisation is a feature of which organisational structure?

 a. matrix

 b. divisional

 c. multi- divisional

 d. functional

Question 5. The process of dividing the work and then grouping them into units and subunits for the purpose of administration is known as

 a. Departmentation

 b. Organisation structure

 c. Committee

 d. all of above

Question 6. What is not a purpose of an organisational structure?

 a. to coordinate people & resources

 b. To limit workers’ rights

 c. to formalise authority

 d. to organise lines of communication

Question 7. What is not a purpose of an organisational structure?

 a. To coordinate People & resources

 b. To organise lines communication

 c. To formalise authority

 d. To limit Workers rights

Question 8. What is not an advantage of a hierarchical structure?

 a. quick response to change

 b. clear chain of command

 c. descipline stability

 d. small span of control

Question 9. Which of the following applies to the matrix structure?

 a. It allows the owner to control all aspects of the business

 b. It attempts to merge the benefits of decentralisation with co-ordination across all areas of the business

 c. It is found in companies offering a diverse range of products in a home market

 d. None of these

Question 10. Which of the following structure(s) is/are centralised?

 a. The simple structure only

 b. functional structure only

 c. both a & b

 d. none of these

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4th Module Assessment

Case Study

Organization design involves the creation of roles, processes and structures to ensure that the organization’s goals can be realized.Some people associate organization design with the mechanical arrangement of positions and reporting lines on the organization chart. It is certainly true that organizational designers also need to define the vertical structure, including reporting lines. However, organization design is much more than “boxology”.

Organization design problems are often some of the hardest problems that leaders face. Finding the right design often requires inventing a new solution to resolve a dilemma. And decisions made with regard to formal structure, roles and processes directly impact the jobs and careers of employees – and the ability of the firm to realize its strategic objectives.

In an organization re-design process one may consider elements at different levels; The overall organizational “architecture” (e.g., the corporate level, the role of the headquarters versus business areas in a large firm, etc.); The design of business areas and business units within a larger firm; The design of departments and other sub-units within a business unit; The design of individual roles.

The field of organization design sits at the intersection of strategy, operations, law and HR. An important driver for organization design is the organization’s strategy – but the design of the organization may also to a great extent determine which strategies we may be able to form in the first place. We should, in general, attempt to align the organization with the work processes – so there is a close link between operations and organization design. The design of the organization is also influenced by laws, regulations, and governance principles adopted by the industry sector. Last but not least, organization design is fundamentally about people. People inhabit the roles that are defined in the organization design proces. People participate in design processes and also influence designs in many direct and indirect ways.

Organizational design serves as the foundation on which all company operations are built, including such vital factors as the grouping of employees within different departments and the formal managerial hierarchies within a company. Savvy early stage organizational design choices can create a foundation for success, allowing an organization to develop a strong company culture, grow in response to increasing demand and adapt to changes in the marketplace.

Company Leadership

Organizational design influences the leadership structure of a company, setting forth reporting relationships and lines of authority reaching from the executive level to the front line. It is important to have a clear map of managerial responsibility and accountability to keep the company running smoothly. Without clear lines of authority, employees in different areas of the company can become misguided or confused, while others find themselves with an unnecessarily high level of supervision. The ideal leadership structure depends on the industry a company is in and the personalities of business owners.

Company Culture

The leadership structure put in place by organizational-design choices can have a direct and lasting effect on company culture. The grouping of employees in various departments and the managerial hierarchy influences the way employees interact with each other on the job. Organizational design can influence the degree to which front-line employees are allowed to solve complex problems on their own rather than involving a manager, for example. An organization designed to make extensive use of telecommuters will result in a company in which workplace relationships are often formed and strengthened solely through online interactions, as another example.

Future Growth

Organizational design choices made in the early stages of a business can either help or hinder growth plans. Organizational designs built to easily accommodate new managers and employees at different levels of the organization can add new positions without making significant structural changes. A company using freelancing telecommuters, for example, can add large numbers of freelancers with a small increase in the number of managers. A company that locates all employees in a small office, on the other hand, must acquire new office space or expand their current office to take on new employees.

Adaptability

Organizational design choices can develop distinct competitive advantages. Savvy business owners continually monitor changes in their industries and markets, looking for opportunities to adapt and develop new competitive advantages. Companies with taller organizational structures and complicated bureaucracies can find it difficult to adapt to changing market conditions, such as a growing use of lean business models or outsourcing in the industry. Companies with less complex organizational structures can find it easier to shift employees around, rework managerial hierarchies and redesign job descriptions for existing employees, all of which can increase efficiency or productivity in response to outside pressures.

Question 1. A _______is one in which its design is not defined by,or limited to, the horizontal, vertical, or external boundaries imposed by a predefined structure

 a. Project Structure

 b. Autonomous Internal Units

 c. Boundaryless Organisation (vese sahi ye hona chaiye but showing wrong)

 d. Learning Organisation

Question 2. An important driver for organization design is the organization’s _____

 a. Strategy

 b. Choice

 c. Differentiation

 d. All of above

Question 3. Companies with taller organizational structures and complicated bureaucracies can find it difficult to________

 a. face the competition

 b. Work in a structured way

 c. adapt to changing market conditions

 d. None of these

Question 4. In an organization re-design process , one may consider which of the following?

 a. design of individual roles

 b. overall organizational architecture

 c. design of business areas and business units within a larger firm

 d. All of above

Question 5. Organization design involves the creation of _______ to ensure that the organization’s goals can be realized.

 a. roles

 b. processes

 c. structures

 d. All of above

Question 6. Which of the following is true for organisational design?

 a. It is the way an organisation is to be structured and operated by its members

 b. It is widely regarded as a competitive capability

 c. It is a critical component of any organisation’s Organisation Development offering

 d. All of above

Question 7. Without clear lines of authority, employees in different areas of the company can become______

 a. misguided and confused

 b. competitive

 c. Both a & b

 d. None of these

Question 8. _______describes the degree to which tasks in an organisation are divided into separate jobs.

 a. Departmentalisation

 b. Chain of command

 c. Work Specialisation

 d. Span of Control

Question 9. _______is a system of organisation where the elements of the organisation are unranked or where they possess the potential to be ranked a number of different ways

 a. Organic Structure

 b. Heterarchy

 c. Hierarchy

 d. Responsible Autonomy

Question 10. ________refers to the degree to which jobs within the organisation are standardized and the extent to which employee behaviour is guided by rules and procedures

 a. Decentralisation

 b. Formalisation

 c. Centralisation

 d. Simple structure

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5th Module Assessment

Case Study

Organizational effectiveness is defined as an extent to which an organization achieves its predetermined objectives with the given amount of resources and means without placing undue strain on its members.

Sometimes efficiency and effectiveness are used as synonyms. However, there exists a difference between the two concepts. Therefore, it is important to explain the difference between the concepts of effectiveness and efficiency to understand why organizations may be effective but not efficient, or efficient but not effective. Effectiveness is a broad concept and takes into account a collection of factors both inside and outside an organization. It is commonly referred to as the degree to which predetermined goals are achieved. On the other hand, efficiency is a limited concept that pertains to the internal working of an organization. It refers to an amount of resources used to produce a particular unit of output. It is generally measured as the ratio of inputs to outputs. Further, effectiveness concentrates more on human side of organizational values and activities whereas efficiency concentrates on the technological side of an organization.

Goal attainment is the most widely used criterion of organizational effectiveness. In goal approach, effectiveness refers to maximization of profits by providing an efficient service that leads to high productivity and good employee morale. Several variables such as quality, productivity, efficiency, profit, turnover, accidents, morale, motivation and satisfaction, which help in measuring organizational effectiveness. However, none of the single variable has proved to be entirely satisfactory.

The main limitation of this approaches the problem of identifying the real goals rather than the ideal goals.

Functional Approach

This approach solves the problem of identification of organizational goals. Parson states that since it has been assumed that an organization is identified in terms of its goal, focus towards attainment of these goals should also aim at serving the society. Thus, the vital question in determining effectiveness is how well an organization is doing for the super-ordinate system.

The limitation of this approach is that when organizations have autonomy to follow its independent courses of action, it is difficult to accept that ultimate goal of organization will be to serve society. As such, it cannot be applied for measuring organizational effectiveness in terms of its contributions to social system.

Both the goal and functional approach do not give adequate consideration to the conceptual problem of the relations between the organization and its environment.

System Resource Approach

System-resource approach of organizational effectiveness emphasizes on inter-dependency of processes that relate the organization to its environment. The interdependence takes the form of input-output transactions and includes scarce and valued resources such as physical, economic and human for which every organization competes.

The limitation of this model is that an acquisition of resources from environment is again related to the goal of an organization. Therefore, this model is not different from the goal model.

Thus, discussion of organizational effectiveness leads to the conclusion that there is no single indicator of effectiveness. Instead, the approach should focus on operative goals that would serve as a basis for assessment of effectiveness.

Managerial effectiveness is a causal variable in organizational effectiveness. It has been defined in terms of organizational goal-achieving behavior, i.e., the manager’s own behavior contributes to achievement of organizational goals.

Question 1. A supply chain is an inter-organisational work system devoted to procuring materials and other inputs required to produce a firm’s products.

 a. Project

 b. Service system

 c. Supply Chain

 d. Information System

Question 2. Highly effective organisations exhibit strengths across which areas ?

 a. leadership

 b. decision making and structure

 c. work processes and systems

 d. All of above

Question 3. In achieving______ criteria, an effective organisation must be adaptive to new opportunities and hurdles, as well as being capable of developing the abilities of its members and itself.

 a. Short-term

 b. Up to one year

 c. Medium-term

 d. Longer term

Question 4. System-resource approach of organizational effectiveness emphasizes on?

 a. inter-dependency of processes

 b. Processes relate the organization to its environment

 c. Both a & b

 d. None of these

Question 5. the goal and ______ do not give adequate consideration to the conceptual problem of the relations between the organization and its environment.

 a. functional approach

 b. System Approach

 c. Competitive approch

 d. None of these

Question 6. The ways in which real people learn, change, adopt and align, get “affected” by dynamics in the environment and leveraging this knowledge to create effective organisations that are pioneers of_______

 a. Decision Making

 b. Change & Learning

 c. Group Effectiveness

 d. Self-Organizing & Adaptive Systems

Question 7. Which of the following is correct in context of goal approach effectiveness?

 a. refers to maximization of profits.

 b. provides an efficient service that leads to high productivity and good employee morale

 c. Both a & b

 d. None of these

Question 8. Which of the following is true for Organisational effectiveness?

 a. Defined as the efficiency with which an association is able to meet its objectives.

 b. It is about each individual doing everything they know how to do and doing it well

 c. It is the concept of how effective an organisation is in achieving its goals.

 d. All of above

Question 9. _______is defined as the reaching of new or other important information to the employees in due time.

 a. Care about clients

 b. Transmission of information

 c. Strategic Direction

 d. Collaboration

Question 10. _______is the lifeblood for an organisation that builds bridges among the employees within the organisation.

 a. System of control

 b. Coordination and integration

 c. Reward and incentive system

 d. Communication

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Assignment 2

Case Study

The case discusses the corporate culture of the Canada-based airline, WestJet Airlines Ltd. (WestJet). When WestJet was incorporated in 1996, the founders were of the view that culture was the one element of an organization that could not be duplicated and that it was a way of differentiating WestJet from the competitors.

WestJet encouraged a culture of participation and commitment and gave prime importance to empowered and happy employees, as it believed that these employees would provide customers with a good experience. At WestJet every employee was a shareholder in the company. The highly empowered employees were free to take any decision that would help them provide the best service to customers.

WestJet’s culture helped it remain profitable in an industry as highly volatile as the airline industry.

However, WestJet’s culture began to face a few threats. Venturing into the regional market through WestJet Encore and expanding internationally to various European destinations, made it difficult for WestJet to maintain the culture it was known for. At the same time, some of the employees were fueling unionization in the company, which could have a major impact on its culture in times to come.

In May 2014, Canada-based WestJet Airlines Ltd. (WestJet) won the prestigious Randstand Award and was chosen ‘Canada’s Most Attractive Employer’ for the third year in a row. WestJet was selected from among 150 companies by more than 8,000 people in search of employment opportunities. The airline was rated high for its work environment, strong management, interesting work, and training. According to Tom Turpin, President, Randstand Canada, “This award is truly the people’s choice award and to take home the title as Canada’s most attractive employer for three back-to-back years means they have created a very strong image and Canadians want to be part of that distinct culture.

WestJet, incorporated in 1996, was founded on a distinct corporate culture which considered people highly important to provide customers with a good experience. The founders wanted to develop a company with a culture of participation and commitment, where employees were friendly and caring in order to provide customers with a great flying experience. They were of the view that culture was one element of an organization that could not be duplicated and that it was a way of differentiating WestJet from the competitors. They insisted on developing a non-hierarchical structure with every employee being a shareholder in the company. The highly empowered employees were free to take any decision that would help provide customers with the best service.

WestJet’s origins date back to 1994, when a businessman based in Calgary, Canada Clive Beddoe (Beddoe), who traveled frequently, bought a small aircraft for the purpose. He also leased the plane through a local company Morgan Air Services, owned by Tim Morgan (Morgan). The high cost of air travel in Canada and the success of low-cost airlines in the US set the two of them thinking about starting their own discount airline. Beddoe and Morgan got together with two other businessmen, Don Bell (Bell) and Mark Hill (Hill), to start the airline. Their plan was to offer low fares, attract new customers, operate on new routes, and expand the market, instead of snatching away a share from existing airlines. They were of the view that the availability of low fares would encourage more people to fly.

Beddoe was the Chairman and CEO, Hill was the director of Strategic Planning, Morgan took charge of operations, while Bell took care of customer service. Other prominent investors in the venture included David Neeleman, whose company Morris Air was acquired by Southwest Airlines. The first commercial flight of the airline began operations in February 1996. All the pilots and flight crew were based in Calgary.

When the founders were contemplating starting a new airline, Mark Hill started reading about US-based SouthWest Airlines to understand how the culture of the company had evolved. He understood that it was the high performance culture that differentiated Southwest from its competitors. Hill felt that the culture in the company was reflected in the way the customers were treated. He believed that by aligning the interest of the people with business interest, it would be possible to foster a great culture.

The founders were of the view that the people working at WestJet, called WestJetters, must show a caring attitude toward the passengers, who were addressed as guests, and also toward their co-workers. The culture at WestJet was guided by a set of values

Incentives, a good culture and work environment, and open communication helped the founders to position WestJet as a fun airline. According to Rick Ericson, Aviation Consultant, “(Corporate Culture) It’s a key asset, and I give Beddoe full credit for creating that. Beddoe has done an excellent job of promoting WestJet externally as “a quirky little company that could. He has marketed the image of a company you can like and that you want to do business with.”

The atmosphere in WestJet was informal with the employees calling even the CEO by his first name. With all the employees having a share in the company, there was a feeling among them of working for themselves. There was a total absence of hierarchy, and anybody, irrespective of the position in the company, pitched in to help others, to get the work done on time, and to serve the customers.

There were some formal groups in the company to address employee grievances and encourage employee participation. At WestJet, CARE, or Creating a Remarkable Experience, was one of them. CARE was a group whose aim was to propagate the WestJet culture throughout the company. Inculcating the culture was not a one-time effort but an ongoing process, according to company insiders. CARE was responsible for organizing more than 250 events every year for the employees and their families. These included meetings with the pilots, the crew, discussions about culture, and town hall meetings. Twice a year WestJet held profit sharing parties – one during the spring and the other during the fall. At these parties, employees were given profit-sharing checks. The CARE team also brought out videos and plays to entertain the employees. At these celebrations outstanding employees received awards…

Analysts attributed WestJet’s success to the sense of ownership that was cultivated among the employees. Encouraging the employees to assume responsibility and providing them a role in the growth, resulted in better productivity, highly motivated employees, and high morale, all resulting in better customer service. “All of us are owners here, and we’re all very passionate about what we do. When you have a stake in the company, you want to do whatever it takes to make it work,” said Lisa Puchala, director of in-flight training and standards.

Beddoe was of the view that as the employees were responsible for providing a friendly environment to the guests, it was important to recruit people who fit in with the culture of the organization. According to Darryl Howard, of CIBC World Markets, the lead underwriter on the IPO of WestJet, “Hiring the right people is the most critical one. For the first couple of years he probably interviewed every person (himself) before they were hired. (Secondly,) he kept things simple. The business itself is quite defined. They’re not trying to compete on long hauls or business travel. They went specifically to short haul passenger service. And the third principle is that he insists that his people have fun. You’ve seen that on the flights where they tell hokey jokes. That goes a long way.”

Analysts attributed WestJet’s ability to provide the best customer service in the airline business mainly to its employee focus. The airline attributed its success to hiring the right kind of people and empowering them.

Since its inception, WestJet had been ranked among the most profitable airlines in the world, showing consistent growth in revenues. As of 2014, the company had achieved 38 consecutive quarters of profits, an impressive statistic in the highly turbulent airline industry. WestJet was able to save on employee costs, as the supervisory level was almost absent in the organization. The productivity per employee in WestJet was the highest in the Canadian airline industry. The company’s attitude toward its employees helped it score high with potential employees too. It was ranked at the top in Canada’s more admired corporate cultures for several years…

As the organization grew, there were subtle changes seen in the corporate culture with every new employee who joined. The fast pace of change in WestJet brought with it some anxiety among the employees. Analysts pointed out that as the number of employees was expected to exceed 10,000 by 2015, it might be difficult to keep them connected to each other and to the culture of WestJet. Analysts said that with WestJet expanding to European destinations, its business model had changed, placing a stress on the culture of the company. As it moved into international markets, it might be a challenge for WestJet to retain high levels of employee engagement and provide a unique guest experience that differentiated it from so many other carriers, they opined

Question 1. As discussed in this case study, which of the options is true. The founders were of the view that___ ? (A) culture was one element of an organization. ( B) Ciulture could not be duplicated ( C) Culture was a way of differentiating WestJet from the competitors.

 a. Only A

 b. Only A & C

 c. Only A & B

 d. All A, B, C

Question 2. As per the Case study which of the options is true . WestJet encouraged___ ? : (a) a culture of participation and commitment (b) gave prime importance to empowered and happy employees( c) it believed that the employees would provide customers with a good experience

 a. Only a & b

 b. Only b & c

 c. Only c & a

 d. All a,b,c

Question 3. Canada-based WestJet Airlines Ltd. won the prestigious Randstand Award and was chosen ___

 a. ‘Canada’s Most Competitive Employer’

 b. ‘Canada’s Most Attractive Employer’

 c. Both a& b

 d. None of these

Question 4. Founders of WestJet, insisted on developing ____? : (A) non-hierarchical structure (B)every employee being a shareholder in the company.

 a. Only a

 b. Both a & b

 c. Only B

 d. none of these

Question 5. In this case Study , CARE is referred to as ?

 a. Creating a Resourceful Experience

 b. Creating a Remarkable Experience

 c. Creating a Resourceful Expertise

 d. None of these

Question 6. WestJet was founded on a distinct corporate culture. Which of the following option is true in this context?

 a. It considered people/employees highly important

 b. Its aim was to provide customers with a good experience.

 c. Both a & b

 d. None of these

Question 7. WestJet was able to save on employee costs, as____?

 a. the supervisory level was almost absent in the organization

 b. it hired less employees

 c. training & development avctivities were not conducted

 d. None of the above

Question 8. WestJet was incorporated in____

 a. 1990

 b. 1996

 c. 1969

 d. 1970

Question 9. which of the following was adopted by WestJet , in order to get better productivity from the employees.

 a. Encouraging the employees to assume responsibility

 b. providing employees a role in the growth

 c. motivating employees

 d. All of above

Question 10.  _____helped the founders to position WestJet as a fun airline.

 a. Incentives

 b. a good culture and work environment

 c. open communication

 d. All of above

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Talent Acquisition & Development (EDL 408)-Semester 4

Talent Acquisition & Development (EDL 408)-Semester 4

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1st Module Assessment

CASE STUDY

The Hotel Paris s competitive strategy is To use superior guest service to differentiate the Hotel Paris properties, and to thereby increase the length of stay and return rate of guests, and thus boost revenues and profitability. HR manager Lisa Cruz must now formulate functional policies and activities that sup- port this competitive strategy by eliciting the required employee behaviors and competencies.
As an experienced human resource director, the Hotel Paris s Lisa Cruz knew that recruitment and selection processes invariably influenced employee competencies and
behavior and, through them, the company s bottom line.
Everything about the workforce its collective skills, morale, experience, and motivation depended on attract- ing and then selecting the right employees.
In reviewing the Hotel Paris s employment systems, she was therefore concerned that virtually all the company s job descriptions were out of date, and that many jobs had no descriptions at all. She knew that without accurate job descriptions, all her improvement efforts would be in vain.
After all, if you don t know a job s duties, responsibilities, and human requirements, how can you decide who to hire or how to train them? To create human resource policies and practices that would produce employee competencies and behaviors needed to achieve the hotel s strategic aims, Lisa s team first had to produce a set of usable job descriptions.


A brief analysis, conducted with her company s CFO, reinforced that observation. They chose departments across the hotel chain that did and did not have updated job descrip- tions. Although they understood that many other factors might be influencing the results, they believed that the relationships they observed did suggest that having job descriptions had a positive influence on various employee behaviors and competencies. Perhaps having the descriptions facilitated the employee selection process, or perhaps the departments with the descriptions just had better managers.
She knew the Hotel Paris s job descriptions would have
to include traditional duties and responsibilities. However, most should also include several competencies unique to each job. For example, job descriptions for the front-desk clerks might include able to check a guest in or out in 5 minutes or less. Most service employees descriptions
included the competency, able to exhibit patience and guest supportiveness even when busy with other activities.

Question 1. Which competency do you think is least required in the employees of Hotel Paris?

Patience

 Ability to serve

 Being aggressive and fast

 Empathetic

Question 2. Lisa should make change in which amongst the below?

Job description

Job specification

 both a and b

 No changes are required

Question 3. Which information Lisa will have to collect first – Job description or Job specification?

Job description

 Job specification

 they are not related

 simultaneously

Question 4. Will the recruitment at Hotel Paris be affected by Lisa’s effort of doing Job analysis? If yes, how?

better employees

 no change in employees

 employee selection is not related to job analysis

 employees performance is not related job analysis

Question 5. Who should Lisa involve during the Job analysis process?

Top management

 Middle management

 Front office Executives

 all of the above

Question 6. If you were Lisa, seeing the correct need of job analysis, for which profile you will not do the Job analysis?

Sales Exective

 Chef

 Human resource executive    

 Chief Financial Officer         

Question 7. If you were Lisa, which position would you have given most priority for the job analysis?

Room service executive

 HR execuitve

 Marketing Manager

 Finance officer

Question 8. Which method of job analysis should Lisa use?

Observation

 Questionnairre

 Delphie Technique

 all of the above

Question 9. which amongst the below would Lisa write under Job specification?

Duties of job

 Skills required

 Working hours

 Compensation of the job

Question 10. Which amongst the below would Lisa write under Job description?

Qualification required

 Working hours of the job

 Skills needed

 all of the above

Top of Form

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2nd Module Assessment

CASE STUDY

If you were to ask Jennifer and her father what the main problem was in running their firm, their answer would be quick and short: hiring good people. Originally begun as a string of coin – operated laundromats requiring virtually no skilled help, the chain grew to six stores, each heavily dependent on skilled managers, cleaner – spotters, and pressers. Employees generally have no more than a high school education (often less), and the market for them is very competetive. Over a typical weekend literally dozens of want ads for experienced pressrers or cleaner – spotters can be found in area newspapers. All these people are usually paid around $15.00 per hour and they change jobs frequently. Jennifer and her father are thus faced with the continuing task of recruiting and hiring qualified workers out of a pool of individuals they feel are almost nomadic in their propensity to move from area to area and job to job. Turnover in their stores often approaches 400%. “Dont talk to me about human resources planning and trend anlaysis,” says Jennifer. ” We are fighting an economic war and I am happy just to be able to round up enough live applicants to be able to keep my trenches fully manned.”

Question 1. Choosing the factors that would impact the HR of the company is called as…

 a. sourcing

 b. planning

 c. forcasting

 d. premising

Question 2. Had you been at Jeniffers place what you would have done from the below options to make things better?

 a. Payning more incentives to retain

 b. Redesigning recruitment strategy

 c. Employee engagement

 d. all of the above

Question 3. What HR process flaw they do not have?

 a. Recruitment

 b. Training

 c. compensation

 d. Retention

Question 4. What is the flow of HR Process that Jeniffer should follow?

 a. Premising, forcasting, planning

 b. forecasting, planning, premising

 c. planning, premising, forecasting

 d. planning, forecasting, premising

Question 5. what is the right flow of below human resource functions?

 a. human resource planning, selection, recruitment

 b. recrtuiment, selection, human resource planning

 c. human resource planning, recruitment, selection

 d. selection, recruitment, human resource planning

Question 6. Which HR process becomes very important for Jennifer to apply?

 a. Recruitment

 b. Training

 c. Retention

 d. Human Resource Planning

Question 7. Which of the below function is not a part of Human resource planning?

 a. Job analysis

 b. Demand forcasting

 c. Supply Forecasting

 d. Premising

Question 8. Which recruitment method are they following?

 a. Internal recruitment

 b. external recruitment

 c. both a and b

 d. none of the above

Question 9. Which was or were the problems that Jennifer and her father were facing?

 a. Hiring correct people

 b. Retaining employees

 c. both a and b

 d. none of the above

Question 10. Whose approach is better?

 a. Jeniffer’s

 b. Jeniffer’s dad

 c. both a and b

 d. information is not given in the case study

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3rd Module Assessment

CASE STUDY

Whirlpool recently revamped their HR strategy into a People Excellence Strategy, establishing an operating system based on specific analytics they had gathered. In reviewing their diversity scorecard, it became apparent that Whirlpool had a “leaky bucket” problem. While they had made strides in the attraction and hiring of diverse talent, they were losing that talent at the same, if not a faster, rate. Clearly something needed to be done to engage and retain that talent.

To address this issue, Whirlpool’s talent management and diversity organizations developed a retention risk assessment toolkit. The toolkit includes three phases out of one was – “Assessing the impact Whirlpool would face should an employee leave”

To assess the impact on Whirlpool if an employee should leave, managers were asked to answer each of the following yes or no questions:

If this employee left Whirlpool, in the current business environment would we sustain a significant revenue loss or increased risk?
If this employee left Whirlpool, would we lose significant intellectual capital?
Is this employee in a critical role or on a Succession Plan for a critical role?
Is there a weak or non-existent contingency plan for if this role were vacant?
Would this role be difficult to fill both internally and externally?
The risk retention assessment includes 25 yes or no questions managers were asked to answer about their employees and their relationship to those employees. Questions are grouped into four areas: job/role, development and alignment to career goals, manager/employee relationship and external support system. Answers are then calculated to measure that employee’s level of “retention risk.”

Whirlpool quickly discovered that many managers had difficulty answering a significant number of questions about their employees. Understanding the importance of the manager/employee relationship to retaining talent, Whirlpool created a template for stay interviews as a way to help managers answer those questions, and to create dialogue between managers and employees. This approach directly impacted the level of interaction between the diverse talent and their individual supervisors.

Question 1 :”Attrition increases cost of the company”. Is this statement correct?

 a. Never

 b. Always

 c. At times

 d. Most of the times

Question 2. in the case study, which problem is mentioned by stating: “Whirlpool had a “leaky bucket” problem.”

 a. Less Productivity

 b. Less turnover

 c. More Attrition

 d. Less effeciency

Question 3. In which situation employee turnover will be least?

 a. Employees are satisfied

 b. Employees are motivated

 c. Employees are getting hygiene factors

 d. all of the above

Question 4. The kind of interviews taken place in organizations to ask about possible reasons leads to job turnover are classified as

 a. Employee firing interviews

 b. Transfer interviews

 c. Termination interviews

 d. Exit interviews

Question 5. What acccording to you the case study is related to ?

 a. Employee Training

 b. Employee engagement

 c. Employee retention

 d. Performance appraisal

Question 6. What according to the case is important for management to do in order to retain their employees?

 a. Manager – employee relationship

 b. Succession planning

 c. Employee Development

 d. Correct Recruitment Strategy

Question 7. What is inversely proprtional to retention?

 a. Attrition

 b. Turnover

 c. both a and b

 d. none of the above

Question 8. Which amongst the below were high at Whirlpool?/

 a. absenteeism rate

 b. satisfaction rate

 c. turnover rate

 d. employment rate

Question 9. Which HR processes might not have affected retention in Whirlpool?

 a. Training and development

 b. Performance evaluation

 c. Pay and benefits

 d. Termination and outplacement

Question 10. Which statement is correct

 a. Retention is a synonym to employee turnover

 b. Retention is a synonym to attrition

 c. Attrition and retention goes hand in hand

 d. none of the above

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4th Module Assessment

CASE STUDY

Modern Industries Ltd. (MIL) in Bangalore is an automobile ancillary Industry. It has turnover of Rs. 100 crores. It employs around 4,000 persons.

The company is professionally managed. The management team is headed by a dynamic Managing Director. He expects performance of high order at every level. It is more so at the Supervisory and Management levels. Normally the people of high calibre are selected through open advertisements to meet the human resource requirements at higher levels. However, junior-level vacancies are filled up by different types of trainees who undergo training in the company.

The company offers one-year training scheme for fresh engineering graduates. During the first six months of the training, the trainees are exposed to different functional areas which are considered to be the core training for this category of trainees. By then, the trainees are identified for placement against the available or projected vacancies. Their further training in the next quarter is planned according to individual placement requirements.

During the last quarter, the training will be on-the job. The trainee is required to perform the jobs expected of him after he is placed there. The training scheme is broadly structured mainly keeping in mind the training requirements of mechanical engineering graduates.

Mr. Rakesh Sharma joined the company in the year 1983 after his B. Tech . degree in paint Technology from a reputed institute. He was taken as a trainee against a projected vacancy in the paints application department In MIL, the areas of interest for a trainee in Paint Technology are few. Hence, Mr. Sharma’s core training was planned for the first 3 months only. Thereafter, he was put for on-the-job training in the paints application department. He took interest and showed enthusiasm in his work there. The report from the shop manager was quite satisfactory.

The performance of the trainee is normally reviewed once at the end of every quarter. The Training Manager personally talks to the trainee about his progress, strengths and shortcomings. At the end of the second quarter, the Training Manager called Mr. Sharma for his performance review. He appreciated his good performance and told him to keep it up. A month later Mr. Sharma met the Training Manager. He requested that his training period be curtailed to 7 months only and to absorb him as an Engineer. He argued that he had been performing like a regular employee in the department for the last one quarter. As such, there was no justification for him to be put on training anymore. Further, he indicated that by doing so, he could be more effective in the department as a regular engineer. He would also gain seniority as well as some monetary benefits as the trainees were eligible for a stipend only. The regular employees were eligible for many allowances like conveyance, dearness, house rent, education, etc. which was a substantial amount as compared to the stipend paid to a trainee.

The Training Manager turned down his request and informed him that it was not a practice of the company to do so. He told him that any good performance or contribution made by the trainees during the training period would be duly rewarded at the time of placement on completion of one year of training. Further, he told him that it would set a wrong precedence. Quite often, some trainees were put on the job much earlier than the normal period of three quarters for several reasons.

Thereafter, Mr. Sharma’s behaviour in the department became different. His changed attitude did not receive any attention in the initial period. However, by the end of the third quarter, his behaviour had become erratic and unacceptable. When he was asked by the Department Manager to attend to a particular task, he replied that he was still on training and such task shouldn’t be assigned to a trainee. According to him, those jobs were meant to be attended by full-time employees and not by trainees.

The Paintshop Manager complained to the Training Manager about Mr. Sharma’s behaviour and he was summoned by the Training Manager. During the discussions, Mr. Sharma complained that while all the remaining trainees were having a comfortable time as trainees, he was the only one who was put to a lot of stress and strain; the department was expecting too much room him. He felt that he should be duly rewarded for much hardwork; otherwise, it was not appropriate to expect similar .

The Training Manager tried to convince him again that he shouldn’t harp on rewards as he was a trainee; his sole concern should be to learn as much as possible and to improve his abilities. He should have a long-term perspective rather than such a narrow-minded approach. He also informed him that his good performance would be taken into account when the right occasion arose. He warned him that he was exhibiting negative attitude for which he would be viewed seriously. His demand for earlier placement was illogical and he should forget it as he had already completed 8 months and had to wait only for 4 months. He advised Mr. Sharma that the career of an individual had to be seen on a long-time perspective and that he should not resort to such childish behaviour as it would affect his own career and image in the company.

Mr. Sharma apparently seemed to have been convinced by the assurance given by the Training Manager and remained passive for some time. However, when the feedback was sought after a month, the report stated that he had become more perverted. He was called again for a counselling session and was given two weeks time to show improvement. At the end of those two weeks, the Training Manager met the Department Manager, to have a discussion about Mr. Sharma. It was found that there was absolutely no reason for Mr. Sharma to nurture a grievance on poor rewards. It was decided that he should be given a warning letter as per the practice of the company and, accordingly, he was issued a warning letter. This further aggravated the situation rather than bringing about any improvement. He felt offended and retaliated by thoroughly disobeying any instruction given to him. This deteriorated the situation more and the relationship between the manager of the department and the trainee was seriously affected In cases of rupture of relationship, normally the practice was to shift the trainee from the department where he was not getting along well so that he would be tried in some other department where he could have another lease for striking better rapport. But unfortunately, in the case of Mr. Sharma, there was no other department to which he could be transferred, since that was the only department where his specialisation could have been of proper use. By the time he completed his training, he turned out to be one who was not at all acceptable in the department for placement. His behaviour and involvement were lacking. In view of this, the Department Manager recommended that he be taken out of the department. When Mr. Sharma was informed about it, he was thoroughly depressed. One of the primary objectives of the Training Department is to recruit fresh graduates who have good potential and train them to be effective persons, in different departments. They are taken after a rigorous selection process which includes a written test, a preliminary and a final interview. During the training period, their aptitudes, strengths and weaknesses are identified. Their placement in departments is decided primarily on the basis of their overall effectiveness there. Here is a case where the person happened to be hard-working in the beginning but turned out to be a failure in the end. The Training Manager was conscious of this serious lapse and was not inclined to recommend his termination. But at the same time it was difficult to retain a person whose track record was not satisfactory. He still felt that a fresh look be given into this case but he was unable to find a way out. He was now faced with the dilemma whether to terminate or not to terminate Mr. Rakesh Sharma.

Question 1. According to you whos was wrong in the case?

 a. Mr. Sharma

 b. Training Manager

 c. both a and b

 d. none of the above

Question 2. As the owner of the company what remedial action would you have taken?

 a. Should have terminated Mr. Sharma

 b. Should have asked the training manager to apologise to Mr. Sharma in public

 c. Should have counselled Mr. Sharma and asked training manager to apologise in private to Mr. Sharma

 d. Should have not interfered in the matter

Question 3. How do you think policies of an organisation should be?

 a. Rigid

 b. Flexible

 c. conservative

 d. none of the above

Question 4.If you were the training manager what decision you would have taken?

 a. Terminates Mr. Sharma

 b. Put him again for training

 c. counselled him to make him motivated

 d. Left him the way he was

Question 5. Training given on live machines to Engineers will be considered as

a. On the job training

 b. off the job training

 c. both a and b

 d. none of the above

Question 6. What according to you should have been the decsion of the training manager after completion of 6 months?

 a. Should have reduced training of Mr. Sharma

 b. special evaluation could have been conducted for Mr. Sharma to make sure he has learnt all skills

 c. Should have altered the training policy permanently for better productive results

 d. all of the above

Question 7. Which according to you would be more fruitful as a training policy?

 a. having fixed training period

 b. training should get over once the employee is able to perform

 c. fixed training period but should be flexible for employees performing well

 d. none of the above

Question 8. Which parameter of training evaluation is forefeited in the case study, the most?

 a. Learning

 b. Reaction

 c. Behaviour

 d. Result

Question 9. Which type of training is given to the employees after the first 6 months are over, at Modern Industries?

 a. on the job training

 b. off the job training

 c. both a andb

 d. none of the above

Question 10. Which type of training is given to the employees during the first 6 months at Modern Industries?

 a. on the job training

 b. off the job training

 c. both a and b

 d. none of the above

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5th Module Assessment

CASE STUDY

Hindustan Lever Research Centre (HLRC) was set up in the year 1967 at Mumbai. At that time the primary challenge was to find suitable alternatives to the edible oils and fats that were being used as raw materials for soaps. Later, import substitution and export obligations directed the focus towards non-edible oil seeds, infant foods, perfumery chemicals, fine chemicals, polymers and nickel catalyst. This facilitated creation of new brands which helped build new businesses.HUL believes in meritocracy and has a comprehensive performance management system, which ensures that people are rewarded according to their performance and abilities. Almost 47% of the entire managerial cadres are people who have joined us through lateral recruitment. Over the years many break through innovations have taken place. Hindustan Lever Research gained eminence within Unilever Global R&D and became recognized as one of the six global R&D Centers of Unilever with the creation of Unilever Research India in Bangalore in 1997.At Bangalore R&D center, a team of 10 scientists were appointed for a project on ‘shampoo’ line. Suranjan Sircar heading the team as Principal Research Scientist with the support of Vikas Pawar, Aparna Damle, Jaideep Chatterjee, Amitava Pramanik as Research Scientists. Suresh Jayaraman & Punam Bandyopadhyay were Research Associates. Vikas Pawar came up with an idea of pet shampoos during brainstorming with the team. “Hey, why don’t we target the pet care segment because in India, pet industry is being seriously looked at as a growing industry. I had been working on this concept for a few weeks & have done some initial research as well”, said Vikas. “I think we should just focus on the dog segment & bring out a range of shampoos that are breed specific”, contributed by Aparna Damle, who was a new unmarried scientist in the company. “Oh that’s a really great idea, a breakthrough” said Jaideep & Amitava appreciating Aparna. The idea given by Aparna got support from both colleagues & head. Vikas was although not comfortable with his credit being taken away. He also felt that creating brand specific shampoos would not be a profitable innovation thus, no point on centrating efforts on that. With this in mind he put his point forward but couldn’t gather consensus. After the discussion, Jaideep & Amitava being friends to Vikas, consoled him & showed confidence in his plan & thoughts. “We understand what you are going through. The idea was yours & Aparna took all your credit. Don’t worry we are with you & be careful from next time.”


Nevertheless, in the meeting Aparna presented her proposal for the idea mentioning requirements & chemical details. The meeting began with motivational speech & plan of action by the head of the team. A lot was discussed in detail & tasks were allotted along with deadlines. Immediately after the presentation Jaideep & Amitava approached Aparna & eulogized her research & proposal reiterating the importance of breed specific range of shampoos. Vikas lay aside his ego & went ahead with full dedication & commitment, however during the tenure of the research he noticed poor attitude of team members. Punam was not regular with deadlines; she submitted her research on breeds four days after deadline. Suresh was asked to coordinate with members looking into chemical research but Vikas observed him most of the times in the recreation room, so he asked him “Hi, so what’s the progress in chemical research so far?” Suresh replied that he had done whatever he was asked to do by senior scientist. He reported this lack of commitment & proactive attitude to Suranjan Sircir & asked for an action against them. “Hmm… I know what’s happening in the team. I have worked for 20 years in this industry & from my experience I know what to do & when to do”, he retorted back. Finally the project got completed 4 months after deadline. Vikas went back to the lab; sitting & wondering at the flaws in the group.

Question 1: If you were at Suranjan’ s place what corrective measure would you have taken?

 a. Would have asked Jaideep to resign

 b. Would have made Vikas the team leader

 c. Would have called for a team meeting to enhance team spirit

 d. all of the above

Question 2. Jaideep and Amitava were involved in which type of communication?

 a. Formal

 b. informal

 c. both

 d. none of the above

Question 3. what kind of leadership Suranjan has potrayed in the case?

 a. Directive

 b. Participative

 c. Laissez faire

 d. democratic

Question 4. What made Vikas unhappy?

 a. lack of incentive

 b. lack of recognition

 c. lack of team consensus

 d. lack of leadeership

Question 5. What was missing in the team?

 a. Leadership

 b. Open communication

 c. Team spirit

 d. all of the above

Question 6. which amongst the below is not a stage of group formation

 a. storming

 b. norming

 c. brainstorming

 d. adjourning

Question 7. which is the correct sequence of team formation

 a. storming, forming

 b. norming, performing

 c. norming, storming

 d. adjourning, performing

Question 8. Which type of team is shown in the case study?

 a. Vurtul team

 b. Crossfunctional team

 c. Task team

 d. none of the above

Question 9. who according to you played the most passive role in the team building

 a. Aparna

 b. Vikas

 c. Suresh

 d. Suranjan

Question 10. who instigated poltics and negatiity in the team

 a. Jaideep and Amitava

 b. Vikas

 c. Aparna

 d. Suranjan

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Assignment 2

CASE STUDY

Satish was a Sales Manager for Industrial Products Company in City branch. A week ago,
he was promoted and shifted to Head Office as Deputy Manager – Product Management for a
division of products which he was not very familiar with. Three days ago, the company VP –
Mr. George, convened a meeting of all Product Managers. Satish’s new boss (Product
Manager Ketan) was not able to attend due to some other preoccupation. Hence, the
Marketing Director, Preet – asked Satish to attend the meeting as this would give him an
exposure into his new role.


At the beginning of the meeting, Preet introduced Satish very briefly to the VP. The meeting
started with an address from the VP and soon it got into a series of questions from him to
every Product Manager. George, of course, was pretty thorough with every single product of
the company and he was known to be pushy and a blunt veteran in the field. Most of the
Product Managers were very clear of George’s ways of working and had thoroughly prepared
for the meeting and were giving to the point answers. George then started with Satish.
Satish being new to the product, was quite confused and fared miserably.

Preet immediately understood that George had possibly failed to remember that Satish was
new to the job. He thought of interrupting George’s questioning and giving a discrete
reminder that Satish was new. But by that time, George who was pretty upset with the lack
of preparation by Satish made a public statement “Gentlemen, you are witnessing here an
example of sloppy work and this can’t be excused”.

Now Preet was in two minds – should he interrupt George and tell him that Satish is new in
that position OR should he wait till the end of the meeting and tell George privately. Preet
chose the second option.

Satish was visibly angry at the treatment meted out by George but he also chose to keep
mum. George quickly closed the meeting saying that he found in general, lack of planning in
the department and asked Preet to stay back in the room for further discussions.
Before Preet could give any explanation on Satish, George asked him “Tell me openly, Preet,
was I too rough with that boy?” Preet said “Yes, you were. In fact, I was about to remind
you that Satish is new to the job”. George explained that the fact that Satish was new to
the job didn’t quite register with him during the meeting. George admitted that he had
made a mistake and asked his secretary to get Satish report to the room immediately.
A perplexed and uneasy Satish reported to George’s room after few minutes.

George looking Satish straight into his eyes said “I have done something which I should
have never even thought of and I want to apologise to you. It is my mistake that I did not
recollect that you were new to the job when I was questioning you”.
Satish was left speechless.

George continued “I would like to state few things clearly to you. Your job is to make sure
that people like me and your bosses do not make stupid decisions. We have good
confidence in your abilities and that is why we have brought you to the Head Office. For
everybody, time is required for learning. I will expect you to know all the nuances of your
product in three months time. Until then you have my complete confidence”.
George closed the conversation with a big reassuring handshake with Satish

Question 1. Did Preet make a mistake by not intervening during the meeting and correct George’s misconception about Satish?

 a. yes he should have spoken to protect satish

 b. he did correct by not speaking as VP is a very senior person

 c. both a and b are correct

 d. both a and b are wrong

Question 2. How do you find George as a leader?

 a. he is a autocratic leader

 b. he is a democratic leader

 c. he is a transactional leader

 d. he has laissez fairre leadership style

Question 3. How do you find Satish as an employee?

 a. dumb

 b. hard working

 c. unreliable

 d. Ill mannerred

Question 4. If you were in Satish’s place, how would you to respond to George’s apology?

 a. I will request to be shifted back to the city branch

 b. I will ask George to be carefule in future while talking to me

 c. I will react reassuringly that I will perorm well

 d. I will try to show my product knowledge

Question 5. Promotion is a form of

 a. external recruitment

 b. internal recruitment

 c. both a and b are correct

 d. promotion is not related to recruitment

Question 6. Was George correct in saying that Satish is there to correct the “stupid mistake” of his boss and George?

a. yes he was correct

 b. he was wrong to say so

 c. may be

 d. boss are always correct

Question 7. Which HR Practice you find missing in the case?

 a. training

 b. induction

 c. organisation structuring

 d. departmentalisation

Question 8. Which leadership style does Geroge have?

 a. people oriented

 b. task oriented

 c. both a and b are correct

 d. neiher of a and b

Question 9. Who do you think did not fulfill his responsibility to the fullest

 a. Satish

 b. George

 c. Preet

 d. Satish’s immediate boss

Question 10. Why was it at all necessary for George to apologise to such a junior employee like Satish?

 a. to keep Satish’s morals high

 b. to show Preet that he himself is a good leader

 c. to build trust in Satish

 d. to further reinforce that Satish should have knowledge about products

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Marketing of Services (EDL 421)-Semester IV

Marketing of Services (EDL 421)-Semester IV

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1st Module Assessment

Case Study

 The case study approach of Max New York Life (MNYL) to become a leading player in the life insurance segment of India. It talks about the training methodologies and process improvements undertaken by the company. The distribution system developed by MNYL has been discussed both in rural and urban markets. The product differentiation strategies followed by MNYL also form a part of this caselet. the company was established in 1999 during the privatization of Life Insurance sector when other players were also being given license. In a short span of 5 years the company was able to open 28 offices and employ thousands of employees across pan India. the company has built a service name for itself through developing the right marketing mix through developing tangibility for the insurance services. Insurance are on the higher side of intangibility but the company has built a strong nam for itself through developing good features products which are their policies along with making a strong employee oriented company. the extended marketing mix has been worked upon through product differentiation and customer services. 

Question 1 : A complete new service like Multiplex needs to be seen as

 a. Service disruption

 b. Incremental service

 c. New usage of service

 d. None of these

Question 2. Among the extended marketing mix options, which is the most difficult to build

 a. Physical Evidence

 b. People

 c. Process

 d. None of these

Question 3. Credence quality for any new service like a multiplex is based on

 a. Word of Mouth

 b. Prior experience

 c. Reputation and Brand name

 d. None of these

Question 4. Customers can complaint to the company through many ways

 a. Irrants

 b. Active voicers

 c. Switchers

 d. All of these

Question 5. Moment of Truth can be understood as

 a. Interaction between customer and employee

 b. Service being delivered

 c. Promises being fulfilled

 d. All of these

Question 6. Service failure through encounter can be easily managed through

 a. Phone call

b. Face to face counselling

 c. Email reponse

 d. None of these

Question 7. The most important consumer buying behaviour for services is

 a. Attributes

 b. Quality

 c. Trust

 d. Price

Question 8. The service quality dimensions for services comprise of all except

 a. Responsiveness

 b. Tangibles

 c. Confidence

 d. Assurance

Question 9. The services are different from products due to

 a. Nature

 b. Size

 c. Purpose

 d. None of these

Question 10. What is the term for technology use for services

 a. SET

 b. SST

 c. STS

 d. None of these

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2nd Module Assessment

Case Study

 McDonalds is the world’s largest chain of fast food chain originating from USA. The modest beginnings of McDonald’s at Illinois in USA, turned out to be among the main brand names in the international scene. It has been synonymous to what is widely-accepted the fast-food concept. The company operates over thirty one thousand stores all over the world to date. It was one of the first to perfect the concept of fast service in the food industry in its early days of operations in 1955. Given that the products of the company are mainly western in character; its operations have also expanded to the Asian region. The first Indian McDonald’s outlet opened in Mumbai in 1996. In the rest of the globe, it operates thousands of store franchises that functions autonomously.

Around the world, McDonald’s traditionally operates with local partners or local management. In India too, McDonald’s purchases from local suppliers. McDonald’s constructs its restaurants using local architects, contractors, labour and – where possible – local materials. McDonald’s hires local personnel for all positions within the restaurants and contributes a portion of its success to communities in the form of municipal taxes and reinvestment.

The McDonald’s philosophy of Quality, Service, Cleanliness and Value (QSC&V) is the guiding force behind its service to the customers. McDonald’s India serves only the highest quality products. All McDonald’s suppliers adhere to Indian Government regulations on food, health and hygiene while continuously maintaining their own recognized standards. All McDonald’s products are prepared using the most current state-of-the-art cooking equipment to ensure quality and safety. At McDonald’s, the customer always comes first. McDonald’s India provides fast friendly service- the hallmark of McDonald’s that sets its restaurants apart from others. McDonald’s restaurants provide a clean, comfortable environment especially suited for families. This is achieved through McDonald’s stringent cleaning standards, carefully adhered to McDonald’s menu is priced at a value that the largest segment of the Indian consumers can afford. McDonald’s does not sacrifice quality for value – rather McDonald’s leverages economies to minimize costs while maximizing value to customers. The company has invested Rs 450 crore so far in its India operations out of its total planned investment of Rs 850 crore till 2007.

Question 1 : Any service failure at McDonalds may be evaluated through which aspect of Zone of Tolerance

 a. Personal Service Philosophy

 b. Benchmarks in mindset of the consumer

 c. Urgency of the service

 d. None of these

Question 2. For McDonalds the adequate service level is based on

 a. Company Philosophy

 b. Customer’s Expectations

 c. Marketing & Advertising

 d. All of these

Question 3. For such a fast food service, the most critical service quality dimension is

 a. Reliability

 b. Tangibles

 c. Responsiveness

 d. Assurance

Question 4. How can service failure happen at McDonalds

 a. Employee’s mistake

 b. Unrealistic Customer expectation

 c. Service producers

 d. All of these

Question 5. How can service guarantees be promised at a food joint

 a. Time and Quality parameters

 b. Money back

 c. Courteous employees

 d. Internal Marketing

Question 6. McDonalds has developed which service quality dimensions

 a. RATER

 b. SERVQUAL

 c. QSCV

 d. None of these

Question 7. The difference between customer expectation and customer perceptions is due to

 a. Service Delivery

 b. Service Quality

 c. Wrong Marketing

 d. Internal Marketing

Question 8. The dissatisfied customers can undertake what kinds of complaints

 a. Irates

 b. Switchers

 c. Terrorists

 d. All of these

Question 9. What service recovery methods can be adopted as a fast food chain

 a. Responding to complaints immediately

 b. Fail Safe

 c. Being Emphatetic

 d. None of these

Question 10. Which factor is the most important contributor for the Desired Service level for McDonalds

 a. Marketing

 b. Brand Name

 c. Customer Word of Mouth

 d. None of these

Score: 10 on 10

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3rd Module Assessment

Case Study

 The Taj hotels the part of TATA industries are one of the renowned business houses of India started Indian Hotels Company Ltd. (IHCL) their first property was the Taj Mahal Palace hotel in Mumbai in 1903 the first five star hotel in India. The company started a long-term geographic expansion of its brand to increase its global presence and from 1970 till today it is the leading hotel chain in the Indian hospitality market. “Offering very advanced and innovative air transport catering and other associated services, Taj SATS works in the 4 major cities in the Indian sub-continent, they are Kolkata, Chennai, Mumbai and Delhi. Currently, Taj SATS supplies to more than 26 international and domestic airlines, and is the leader in the Indian flight catering market” (hotels.com, 2010).”Offering very advanced and innovative air transport catering and other associated services, Taj SATS works in the 4 major cities in the Indian sub-continent, they are Kolkata, Chennai, Mumbai and Delhi. Currently, Taj SATS supplies to more than 26 international and domestic airlines, and is the leader in the Indian flight catering market” (hotels.com, 2010).The vision in strategic management can be referred as the forward thinking of the organization which includes the company’s objectives for its future without considering the particular timeframe to achieve its desired goals. The vision statement helps in describing where the company wants to be in future.The mission always expose the exact type of the business, mostly regarding why it was established, the nature and kind of the industry it is operating, and the different type of consumers it is serving.The Taj hotels mission is to embrace the capacity and proficiency of its staff to improve the quality and standards of the hospitality industry and raise their global presence as one and also want to be the leader in its domestic market.The main objective of Taj is to endorse its corporate citizenship through the different conglomerates which help in the construction of the livelihood for the less-advantaged youth and women. It his undertaking different steps which boost the service levels of the people to be in line with the best when compared to its competitors. The service excellence attitude of Taj has its basic fundamental, delivering services and products through the staff working in its properties.Being the number one in the Indian hospitality industry the Taj hotels are trying to increase their presence globally and there up and downs in the market of Taj hotels which is seen in the market analysis, the difference was clearly seen in the balance scorecards. It is launching different new hotel brands in the Indian market, built on the requirements f the tourists who visit India for variouys purposes. By introducing new projects every year it is protecting its share value without losing fath in its stakeholders. It is seen from thew financial data available because of the recession theTaj hotels suffered financially.

Question 1 Delivery Gap can be closed through

 a. Service improvement

 b. Training people

 c. Improving Standards

 d. All of these

Question 2. For a Hotel setup service blueprint is

 a. Process

 b. Physical Evidence

 c. Customer Service

 d. None of these

Question 3. In hotels service evidence can be understood as

 a. In room service

 b. Restaurant

 c. Tangibles in the hotel

 d. All of these

Question 4. In the hotel service design value can be added through

 a. Providing more services

 b. Understanding customer requirements

 c. Setting High standards

 d. Doing Marketing

Question 5. Operational service design at Taj consist of

 a. Steps in service delivery process

 b. People management

 c. Error free service

 d. None of these

Question 6. Servicescape relates to

 a. The detailed service

 b. The environment is which service is delivered

 c. Ambience of the hotel

 d. Escaping the service

Question 7. The most critical aspect of service triangle for Taj is

 a. Internal marketing

 b. External marketing

 c. Interactive marketing

 d. None of these

Question 8. What corporate level decision helps Taj deliver highest quality service

 a. Vision

 b. Mission

 c. Goals

 d. Service Culture

Question 9. What is most important in developing a service culture

 a. Corporate Strategy

 b. Property

 c. Management

 d. None of these

Question 10. Which is not boundary spanning roles at Taj

 a. Chef

 b. Reception

 c. Housekeeping

 d. Security

Score: 10 on 10

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4th Module Assessment

Case Study

  Collaboration brings bigger gains than competition, and the leading players in the domestic online travel space seem to have understood this. When in October 2015, MakeMyTrip, Goibibo and Yatra jointly decided to de-list budding budget hotel room aggregator Oyo from their platforms, the stage was set for an Oyo versus OTAs (online travel agencies) showdown. Oyo, however, decided to ignore this unfair practice, which could well have become a matter of investigation at the Competition Commission of India. Instead, it turned its focus on improving its business proposition and expanding its reach. The hotel aggregator moved from a simple distributor model — where it sold some of the inventory of a hotel as Oyo Rooms, while the hotel sold individually on OTAs — to an exclusive model where all rooms were Oyo-branded. That helped it have better control on the systems and processes at the partner hotels. The growing scale of Oyo made Cyrus Mistry, former chairman of Indian Hotels Company, which runs the Taj group of hotels, refer to the startup as a ‘threat’. While Oyo might not have turned a threat for the luxury hotel chain, its expanding dominance in the budget hotel space did take away some of the business from OTAs. The aggregator, started by Ritesh Agarwal in 2013, emerged with a network of over 7,000 hotels — more than 70 per cent (or 5,000) of which Oyo has exclusive tie-ups with. Since OTAs had de-listed Oyo, it meant that these 5,000 exclusive hotels were not available for the customers of these OTAs, limiting their offering severely. Further, because these hotels were in the budget segment, which has a significant share of the market, the OTAs were missing out on a big chunk of the customers.We believe Oyo poses meaningful competition for MakeMyTrip and is not being priced in by the market. Its recent fundraising , ability to grow with low cash burn, and aggressive business plans can further heighten the competitive intensity in India’s online travel market,” global financial firm UBS said in an October report.“We believe Oyo poses meaningful competition for MakeMyTrip and is not being priced in by the market. Its recent fundraising , ability to grow with low cash burn, and aggressive business plans can further heighten the competitive intensity in India’s online travel market,” global financial firm UBS said in an October report.

No surprise, then, OTAs are turning their attention on hotels. MakeMyTrip, which now also owns Goibibo, decided to change its stance on Oyo, welcoming it back on board two weeks ago. The Nasdaq-listed firm’s decision follows a similar move by Yatra in October last year. Explaining the rationale behind this decision, Dhruv Shringi, co-founder and CEO at Yatra, said the customer needs and preferences are constantly evolving. “They seek newer and more interesting ways to make their travel bookings seamless and cost effective”. In one sweep, the tie-up with Oyo has expanded MakeMyTrip’s room inventory from 50,000 to about 53,500. However, not all of Oyo’s exclusive hotels are part of MakeMytrip. To start with, the partnership is only for 3,500 hotels. Rajesh Magow, co-founder and India CEO, MakeMyTrip, had said in 2016 that the decision to de-list Oyo was guided by quality issues. “They were becoming a competition in the budget space. They wanted to aggregate properties and then leverage our platform. It did not make sense for us,” he said. With the evolution of Oyo as a full-scale hospitality company, Magow said, those problems are now a thing of the past, adding that the the business model of an OTA and Oyo is different and there should be no longer be any conflict over dual listing of the same hotels.

Question 1. Capacity constraints in online business can be managed by

 a. Combining capacities

 b. Not giving service

 c. Closing down the business

 d. Not being able to serve the customer

Question 2. Channel Conflict between two distribution partners can arise from

 a. Cost problem

 b. Contradictory Objectives

 c. Same Territory

 d. Profit earning of both partners

Question 3. Demand and Capacity constraints in services mean

 a. Price problem

 b. Demand and Supply management

 c. Employees issues

 d. None of these

Question 4. Developing partnerships lead to

 a. Dilution of core service

 b. Collaboration to deliver better

 c. Competitive problems

 d. No problem at all

Question 5. How can MMT manage excess capacity of hotel rooms during off season

 a. Selling at low price

 b. Changing methods to sell

 c. Yield Management

 d. Competing fiercely

Question 6. MMT plays the most important role in distribution of airline and hotel services as their

 a. Distribution Partner

 b. Online Partner

 c. Channel Partner

 d. All of these

Question 7. Problems beigng faced by online delivery partners

 a. Technical issues

 b. Mismatch between promises and final delivery

 c. Wrong service

 d. None of these

Question 8. Service Delivery through distribution partner is difficult because of

 a. Intangibility

 b. Partners different from company

 c. Company Brand image at stake

 d. All of these

Question 9. What is the most important role of distribution partner in services

 a. To sell

 b. To maintain the service and promise

 c. To provide customer service

 d. None of these

Question 10. Which is not a pricing method for services

 a. Penetration pricing

 b. Skimming Pricing

 c. Customer Pricing

 d. Competitive pricing

Score: 10 on 10

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5th Module Assessment

Case Study

 Cox and Kings (CKS), one of the prominent tour operators of the world, was established way back in 1758 by Richard Cox when he was appointed regimental agent to the footguards of India. By early 20th century, the company was acting as an agent and banker for the armed forces. In 1922, the company merged with the Henry S. King Bank, subsequent to which the banking business was sold. The travel business grew by leaps and bounds and in the early 21st century, CKS was operating various individual and group tours throughout India as well as abroad.
CKS offices abroad were known as Indian tour specialists in their respective markets and had destinations from the Indian sub-continent (amongst other destinations) in their product portfolio. The current sceanrio of the travel busines is changing and leading towads more of online space that would build into better customer services and overall experience. different travel packages are now being floated that attract different kinds of customers. hence overall service differentiation is needed in order to build upon the right kind of offer for consumers. Services have changed a lot over the years to not be limited to only the service but many related aspects of it that have lead to other companies also taking up many nw marketing methods so that an image can be built that would be positive.

Question 1 : A travel company like Cox and Kings is evaluated more on

 a. Physical Evidence

 b. People

 c. Process

 d. Price

Question 2. Competition can be better handled through

 a. Service offer differentiation

 b. Pricing and after sales service

 c. Employee training and improvement

 d. All of these

Question 3. Service industry most challenging problem is

 a. Maintaning consistency

 b. People quality

 c. Pricing

 d. All of these

Question 4. The new service offer by Cox & Kings lead to

 a. Better product

 b. Improved services

 c. Ideal pricing

 d. None of these

Question 5. The service Gapsmodel has what number of gaps

 a. 3

 b. 4

 c. 5

 d. 2

Question 6. The sevice blueprint for travel industry would comprise of

 a. Front end employees

 b. Interaction based employees

 c. Back end employees

 d. Technology based working

Question 7. What can be understood as changes in travel industry

 a. Service offering

 b. technology development

 c. Employee focus

 d. All of these

Question 8. What mistake Cox and Kings have done in providing service

 a. New service offer

 b. Poor technology adoption

 c. International expansion

 d. Customer Service improvement

Question 9. Which are the differentiating factors of services from products

 a. Intangibility

 b. Perishability

 c. Variability

d. All of these

Question 10. Which can be categorized as pure service

 a. Travel

 b. Fast Food

 c. Hospital

 d. Hotels

Score: 10 on 10

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Assignment 2

Case Study

 India is witnessing the growth of multiplexes that offer better viewing experience to the customers. The growth prompted many players such as PVR, INOX, Satyam Cineplexes, and Shringar Films to enter this segment. The caselet provides details about the features of INOX multiplexes that set them apart from the competition. It outlines the expansion strategy of INOX which wants to become a national player in this segment.The Rs 25bn Indian film industry has come a long way from being a regional and proprietary industry to becoming a professional and corporatized industry with global ambitions. However, the Indian film exhibition industry, i.e., movie theaters did not change much — until recently. A majority of the theatres lacked modern equipment that could screen movies with good pictures and sound quality. Apart from this, their dull ambience and poorly planned seating arrangements killed the pleasure of viewing a movie. However, the traditional Indian theatres are now facing tough competition from newly developed multiplexes that are providing the customers with a better movie viewing experience. India’s first multiplex, PVR Anupam, was set up in South Delhi in 1997 as a joint venture between Priya Exhibitors and Australian company Village Roadshow.

Question 1. Capacity constraints in online business can be managed by

 a. Combining capacities

 b. Not giving service

 c. Closing down the business

 d. Not being able to serve the customer

Question 2. Channel Conflict between two distribution partners can arise from

 a. Cost problem

 b. Contradictory Objectives

 c. Same Territory

 d. Profit earning of both partners

Question 3. Demand and Capacity constraints in services mean

 a. Price problem

 b. Demand and Supply management

 c. Employees issues

 d. None of these

Question 4. Developing partnerships lead to

 a. Dilution of core service

 b. Collaboration to deliver better

 c. Competitive problems

 d. No problem at all

Question 5. How can MMT manage excess capacity of hotel rooms during off season

 a. Selling at low price

 b. Changing methods to sell

 c. Yield Management

 d. Competing fiercely

Question 6. MMT plays the most important role in distribution of airline and hotel services as their

 a. Distribution Partner

 b. Online Partner

 c. Channel Partner

 d. All of these

Question 7. Problems beigng faced by online delivery partners

 a. Technical issues

 b. Mismatch between promises and final delivery

 c. Wrong service

 d. None of these

Question 8. Service Delivery through distribution partner is difficult because of

 a. Intangibility

 b. Partners different from company

 c. Company Brand image at stake

 d. All of these

Question 9. What is the most important role of distribution partner in services

 a. To sell

 b. To maintain the service and promise

 c. To provide customer service

 d. None of these

Question 10. Which is not a pricing method for services

 a. Penetration pricing

 b. Skimming Pricing

 c. Customer Pricing

 d. Competitive pricing

Score: 10 on 10

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Project Planning, appraisal & Control (EDL 407)-Semester IV

Project Planning, appraisal & Control (EDL 407)-Semester IV

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1st Module Assessment

Case Study # What it takes to be a great project manager?

Many challenges confront today’s project managers — new technologies, remote workforces and a global market to name a few. To take a project from inception to finish can be grueling and you’ve got to have great dedication and skills if you’re going to be successful. But what sets apart good project managers (PMs) from the truly great ones? What does it take to go from being the manager of projects to a game-changing leader? Here are six skills the great PMs share.

Become a customer relationship management expert

Develop positive mutually aligned connections with stakeholders: The first thing any project leader should work on is developing a positive relationship or connection with key stakeholders and project sponsors within an organization. Simply jumping into a project and bypassing this step can elevate risks right out of the gate and could further increase communication gaps down the road. Being able to understand the perspective, experience and resulting behaviors of the primary players helps to create a platform for improved communication and reduces friction.

Develop an understanding of a specific business and its needs: It’s not important to know every detail there is to know about a customer’s industry; however, making an effort to research key facts, norms and challenges demonstrates sincere interest as it relates to potentially unique business needs. After all, how can you sell any company on the benefits of your skills as a PM without understanding potential challenges, opportunities and impacts to their business? Once you are able to clearly articulate that you understand their obstacles and their needs, it’s less of an uphill battle selling the benefits of a project and alleviating fears.

Pay attention to the big picture, but don’t miss the details: The ability to see the broader picture yet not skip over the details is another skill that enables good project leaders to become great project leaders. Being able to connect the dots from start to finish, all the while keeping the higher-level end goal in sight is a valuable skill that offers organizations peace of mind. Organizational leadership simply doesn’t have time to ensure project leaders are on top of things. These leaders rely heavily on a project manager to understand their business needs and goals, and also navigate project tasks and milestones with minimal guidance.

Don’t just manage teams — motivate and influence them

Be an effective project leader by leading people, not managing them: Teams need to be able to rely on a project manager to provide them with sufficient guidance when needed and to excel in areas like motivation and communication. As a PM you can’t be everywhere or do everything, and this highlights the need to trust the knowledge, skills and abilities of team members. Establishing trusting relationships with stakeholders and team members provides smoother navigation through difficult situations and creates a greater degree of transparency.

Help to build respect among teams and stakeholders: Projects offer opportunities for a diverse set of individuals to bring unique skills, experiences and ideas to the table and helps to build better solutions. Problems often arise when individuals are in conflict and demonstrate a lack of respect for difference or override the contributions of others. This is where tact and skill as a project manager can alleviate tension and encourage team members to refocus on what’s best for the stakeholder(s), rather than remaining self-focused. A strong PM is always able to shed light on key factors and help individuals to see the merits of both sides. The need for mutual respect should be expected and communicated from the start, and ground rules and applicable consequences should be laid out to avoid disruption and lost productivity.

Influence individuals and teams to optimize their contributions. A large part of the role of a project leader is to influence each team member to give their best regardless of personal views, obstacles, and conflicts. Influence is both an art and learned behavior that is often undervalued and overlooked. It’s important to note that influence shouldn’t be confused with manipulation. The real value in positive influence is the ability to translate this soft skill into action that results in a win-win for the stakeholders and team. Further, it’s imperative individual team members and the team as a whole not only understand their role and how it fits within the project goals, but also that they are committed to continuous improvement for optimal results that benefit the customer.

Putting it all together

Companies are increasingly seeking well-rounded project leaders who exhibit the technical know-how and leadership prowess required to see things and execute from different vantage points. A project manager who has the underlying training combined with these core soft skills can uniquely position him or herself to stand out in their field, achieve optimal results and become a sought after thought leader.

Question-1: A large part of the role of a project leader is to influence each team member to give their best regardless of, obstacles, and conflicts.

 a. personal views

 b. obstacles

 c. conflicts

 d. All

Question 2. A project manager who has the underlying training combined with these core soft skills is ????. For job.

 a. Suitable

 b. Not Suitable

 c. Influential

 d. None

Question 3. A strong PM is always able to shed light on key factors and help individuals to see the ????..of both sides.

a. Demerits

 b. merits

 c. Swot

 d. Mirror

Question 4. For the success of a project, PMs are becoming ??..

 a. CRM Expers

 b. Dedicated

 c. Skilled

 d. Experts

Question 5. Is it right t say that primary players helps to create a platform for improved communication and reduces friction.

 a. Can’t Say

 b. TRUE

 c. FALSE

 d. Sometimes

Question 6. Simply jumping into a project and bypassing this step can ?????. risks.

 a. Nullify

 b. Elevate

 c. Reduce

 d. Stable

Question 7. The ability to see the broader picture yet not skip over the details is another skill that enables good project leaders to become great project leaders.

 a. Rare

 b. Always

 c. Sometimes

 d. Never

Question 8. Trusting relationships with stakeholders and team members provides smoother navigation.

 a. TRUE

 b. FALSE

 c. Can’t Say

 d. Sometimes

Question 9. What challenges are faced by today’s Project Managers?

 a. New Technology

 b. Remote Workforce

 c. Global Market

 d. All

Question 10. What is required for a successful project.

 a. Patience

 b. Dedication

 c. Skill

 d. All

10 on 10 J

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2nd Module Assessment

Case Study- Project’s Technical  Analysis

Technical aspects relate to the production or generation of the project output in the form of goods and services from the project’s inputs. Technical analysis represents study of the project to evaluate technical and engineering aspects when a project is being examined and formulated. It is a continuous process in the project appraisal system which determines the prerequisites for meaningful commissioning of the project.

Aspects of Technical Analysis

Technical analysis broadly involves a critical study of the following aspects, viz.,

1) Selection of Process/ Technology: For manufacturing a product, more than one process/technology may be available. For example, steel can be manufactured either by the Bessemer process or by the open-health process. Cement can be manufactured either by the wet process or by the dry process.

The choice of technology also depends upon the quantity of the product proposed to be manufactured. It the quantity to be produced is large, mass production techniques should be followed and the relevant technology is to be adopted. The quality of the product depends upon the use to which it is relevant technology is to be adopted. The quality of the product depends upon the use to which it is meant for. A product of pharmaceutical grade or laboratory grade should have high quality and hence sophisticated production technology is required to achieve the desired quality. Products of commercial grad do not need such high quality and the technology can been chosen accordingly.

A new technology that is protected by patent rights, etc., can be obtained either by licensing arrangement or the technology can be purchased outright. Appropriate technology: A technology appropriate for one country may not be the ideal one for another country. Even within a country, depending upon the location of the project and other features, two different technology may be ideal for two similar projects set up by two different firms at two different locations. The choice of a suitable technology for a project calls for identifying what is called the ‘appropriate technology’.

The term ‘appropriate technology’ refers that technology that is suitable for the local economic, social and cultural conditions.

2) Scale of operations: Scale of operations is signified by the size of the plant. The plant size mainly depends on the market for the output of the project. Economic size of the plant varies from project to project. Economic size of the plant for a given project can be arrived at by an analysis of capital and operating costs as a function of the plant size. Though the economic size of the plant for a given for a given project can be theoretically arrived at by above process, the final decision on the plant size is circumscribed by a number of factors, the main factor being the promoter’s ability to raise the funds required to implement the project. If the funds required implementing the project as its economic size is beyond the promoter’s capacity to arrange for and if the economic size is too big a size for the promoter to manage, the promoter is bound to limit the size of the project that will suit his finance and managerial capabilities. Whenever a project is proposed to be to be set up at a size below its economic size, it must be analyzed carefully as to whether the project will survive at the proposed size (which is below the economic size). Performance of existing units operating at blow economic size will throw some light on this aspect.

3) Raw Material: A product can be manufactured using alternative raw materials and with the alternative process. The process of manufacture may sometimes vary with the raw material chosen. If a product can be manufactured by using alternative raw materials, the raw material that is locally available may be chosen. Since the manufacturing process and the machinery/requirement to be used also to a larger extent depend upon the raw material, the type of raw material to be used should be chosen carefully after analyzing various factors like the cost of different raw materials available, the transportation cost involved, the continuous availability of raw material , etc. Since the process of manufacture and the machinery/ equipments required depend upon the raw material used, the investment on plant and machinery will also to some extent depend upon the raw material used, the investment on plant and machinery will also to some extent depend upon the raw material chosen. Hence the cost of capital investments required on plant and machinery should also be studied before arriving at a decision on the choice of raw material.

4) Technical Know-How: When technical know-how for the project is provided by expert consultants, it must be ascertained whether thee consultant has the requisite knowledge and experience and whether he has already executed similar projects successfully. Care should be exercised to avoid self-styled, inexperienced consultants. Necessary agreement should be executed between the project promoter and the know-how supplier incorporating all essential features of the know-how transfer. The agreement should be specific as to the part played by the know-how supplier (like taking out successful trial run, acceptable quality of final product, imparting necessary training to employees in the production process, taking out successful commercial production, performance guarantee for a specified number of years after the start of commercial production, etc). The agreement should also include penalty clauses for non-performance of any of the conditions stipulated in the agreement.

5) Collaboration Agreements: If the project promoters have entered into agreement with foreign collaborators, the terms and conditions of the agreement may be studied as explained above for know-how supply agreement.

Apart from this, the following additional points deserve consideration:

(i) The competence and reputation of the collaborators needs to be ascertained through possible sources including thee Indian embassies and the collaborator’s bankers.

(ii) The technology proposed to be imported should suit to the local conditions. A highly sophisticated technology, which does not suit local conditions, will be detrimental to the project.

(iii) The collaboration agreement should have necessary approval of the Government of India.

(iv) There should not be any restrictive clause in the agreement that import of equipment/machinery required for the project should be channelized through the collaborators.

(v) The design of the machinery should be made available to the project promoter to facilitate future procurement and/or fabrication for machinery in India at a later stage.

(vi) The agreement should provide a clause that any dispute arising out of interpretation of the agreement, failure to, comply with the clauses contained in the agreement, etc., shall be decided only by courts within India.

(vii) It must be ensured that the collaboration agreement does not infringe upon any patent rights.

(viii) It is better to have a buy–back arrangement with the technical collaborator. This is to ensure that the collaborator would be serious about the transfer of correct know-how and would ensure quality of the output.

6) Product Mix: Customers differ in their needs and preferences. Hence, variations in size and quality of products are necessary to satisfy the varying needs and preferences of customers, the production facilities should be planned with an element of flexibility. Such flexibility in the production facilities will help the organization to change the product mix as per customer requirements, which is very essential for the survival and growth of any organization.

For example, a plastic container manufacturing industry can be produced according to the market requirement. This will give the unit a competitive edge.

7) Selection and Procurement of Plant and machinery

Selection of machinery: The machinery and equipment required for a project depends upon the production technology proposed to be adopted and the size of the proposed. Capacity of each machinery is to be decided by making a rough estimate, as under; thumb rules should be avoided.

i) Take into consideration the output planned.

ii) Arrive at the machine hours required for each type of operation.

iii) Arrive at the machine capacity after giving necessary allowances for machinery maintenance/breakdown, rest time for workers, set up time for machines, time lost during change of shifts, etc.

iv) After having arrived at the capacity of the machinery as above, make a survey of the machinery available in the market with regard to capacity and choose that capacity which is either equal to or just above the capacity theoretically arrived at.

In case of process industries, the capacity of the machines used in various stages should be so selected that they are properly balanced.

Procurement of Machinery

Plant and machinery form the backbone of any industry. The quality of output depends upon the quality of machinery used in processing the raw materials (apart from the quality of raw material itself). Uninterrupted production is again ensured only by high quality machines that do not breakdown so often. Hence no compromise should be made on the quality of the machinery and the project promoter should be on the lookout for the best brand of machinery available in the market. The performance of the machinery functioning elsewhere may be studied to have first-hand information before deciding upon the machinery supplier.

Plant Layout

The efficiency of a manufacturing operation depends upon the layout of the plant and machinery. Plant layout is the arrangement of the various production facilities within the production area. Plant layout should be so arranged that it ensured steady flow production and minimizes the overall cost.

The following factors should be considered while deciding plant-layout:

i) The layout should be such that future expansion can be done without much alteration of the existing layout.

ii) The layout should facilitate effective supervision of work.

iii) Equipments causing pollution should be arranged to be located away from other plant and machinery. For example, generator is a major source of noise pollution.

iv) There should be adequate clearance between adjacent machinery and between the wall and machinery to enable undertaking of regular inspection and maintenance work.

v) The plant layout should ensure smooth flow of men and material from on stage to another.

vi) The plant layout should be one that offers maximum safety to the personnel working inside the plant.

vii) The plant layout should provide for proper lighting and ventilation.

viii) The plant layout should properly accommodate utilities like power and water connections and provisions for effluent disposal.

8) Location of Projects: Choosing the location for a new project is to be done taking many factors into account. The study for plant location is done in two phases. First a particular region/ territory is chosen that is best suited for the project. Then, within the chosen region, the particular site is selected. Thus, we may say that there are two major factors, viz., Regional factors and site factors, to be considered.

Question-1: A technology appropriate for one country may not be the ideal one for another country.

 a. FALSE

 b. TRUE

 c. Sometimes

 d. Never

Question 2. Cement can be manufactured by ????? process.

 a. Wet

 b. Dry

 c. None

 d. Both

Question 3. For pharma prodcution, which technology is required for production.

a. High

 b. Imported

 c. Automated

 d. Sophisticated

Question 4. It is always better to have a buy?back arrangement with the technical ??????…

 a. officer

 b. Assistant

 c. collaborator

 d. Expert

Question 5. Scale of operations is signified by the ??????. of the plant.

 a. Price

 b. Size

 c. Production

 d. All

Question 6. Technical aspects relate to the ?????????… of the project output in the form of goods and services from the projects inputs.

 a. Production

 b. Generation

 c. None

 d. Both

Question 7. The agreement should also include penalty clauses for ???????. of any of the conditions stipulated in the agreement.

 a. Spoilage

 b. Fraud

 c. non-performance

 d. All

Question 8. The choice of a suitable technology for a project calls for identifying what is called the ???????. technology?

 a. Cold

 b. Hot

 c. Vibrated

 d. Appropriate

Question 9. The ultimate choice of technology depends upon the ??????.. of the product proposed to be manufactured.

 a. Quantity

 b. Price

 c. Material

 d. Age

Question 10. What form the backbone of the industry

 a. Plant

 b. Location

 c. None

 d. Both

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3rd Module Assessment

Case Study- Financial Analysis of a Project

One of the most important parts of the project planning process is the financial analysis. The goals of this phase are to determine whether or not to take on the project, to calculate its profits and to ensure stable finances during the project. In other words, financial analysis evaluates project liquidity and profitability. Liquidity is assured by cash flow analysis, while the profitability is evaluated by the following techniques:

•         Payback period analysis

•         Accounting rate of return

•         Net present value

•         Internal rate of return

Cash Flow Analysis: A cash flow is one of the most important parts of the financial analysis for a project or a business. It represents a listing of the project cash inflows and outflows divided into time periods. The time periods may be months, quarters or years, depending on the project needs. A cash flow can be created for either the past accounting period (it is called the cash flow statement) or the future accounting period (the cash flow budget). Apart from the cash flow projections, the cash flow budget may contain the actual cash inflows and outflows, allowing you to monitor the accuracy of your projections.

The main benefit of cash flow budgeting is that it quickly points out any liquidity problems in the future. It shows when the company would experience cash deficits and allows you to take corrective actions in advance by reducing the outflows, changing the time of certain transactions or borrowing the money. The cash flow budget can also identify the time periods when the company will have excess amounts of cash, allowing you to use this cash in order to create additional revenue.

Payback Period Analysis: Payback period analysis is a method that will tell you in how much time you can earn the same amount of money that you would spend on the project.

When this method is used for project comparison, the projects with shorter payback period rank higher — they are more liquid and less risky than the projects with longer payback periods. A payback period of three years or less is considered good, while the projects with payback period of one year of less should be considered very important and should be prioritized.

However, the payback period formula has two disadvantages. First, it ignores the revenues after the payback period, meaning that the project that returns $20,000 after a five year payback period ranks lower than the project that returns nothing after a three year payback period. Secondly, and more importantly, it ignores the time value of money.

Accounting Rate of Return (ARR): Accounting rate of return is a simple method used to quickly estimate a project’s net profits. It represents yearly profits as a percentage of the initial investment:

Salvage value is the value you can earn by selling the asset after its useful life has passed. For the purpose of this formula, useful life of an asset is measured in years. For example, if you buy a machine for $10,000, use it for four years and then sell it for $2,000, the depreciation would be:

After calculating the depreciation, we can use its value to calculate the accounting rate of return. If the new machine would earn us $4,000 per year, the accounting rate of return would be:

Another advantage of the accounting rate of return is that the project’s entire useful life is considered, not just the payback period. On the other hand, this method does not use cash flow data and does not consider the time value of money.

Net Present Value: Unlike the previous two methods, net present value (NPV) considers the time value of money. Basically, due to its earning capacity, the same amount of money is worth more right now than at some point in the future. For example, if you deposit $100 in a savings account with a 5% interest rate, the money invested today would be worth $105 in one year. On the other hand, $100 received one year from now would be worth $95.24 today.

So, the net present value allows you to find the today’s value of the future net cash flow of a project. If the value is greater than the cost, the project will be profitable. You could also compare multiple projects, where those with greater difference between the net present value and the cost are ranked higher.

Internal Rate of Return (IRR): The internal rate of return is another financial analysis method that allows you to calculate the time value of money. The IRR of an investment represents the discount rate at which the net present value of costs (negative cash flows) of the investment equals the net present value of the benefits (positive cash flows) of the investment. In other words, it represents the interest rate which is equivalent to the amount of money you expect to earn on the project.

Theoretically, all projects in which the internal rate of return is higher than the cost of capital are profitable. However, it is advised to only accept projects where the internal rate of return is several percentage points higher than the cost of borrowing, in order to compensate for the risk and time associated with the project.

Question-1: ………………………..Means the period required for getting the invested money back.

 a. ARR

 b. NPV

 c. IRR

 d. Pay Back

Question 2. Cash Flow Analysis deals with ??????..

 a. Cash Inflows

 b. Cash Outflows

 c. Both

 d. None

Question 3. Financial Analysis is one of the ????? part of Project Analysis.

 a. Primary

 b. Secondary

 c. Important

 d. Wasteful

Question 4. Future value is used to know the ????. Value of an asset.

 a. Present

 b. Future

 c. Equal

 d. Greater

Question 5. In case of multiple projects, the project whose NPV is greater, would be rejected.

 a. FALSE

 b. TRUE

 c. Sometimes

 d. Can’t Say

Question 6. IRR is a point where NPV is ?????

 a. Greater

 b. Lower

 c. Zero

 d. None

Question 7. NPV is the difference between Present Value of cash inflows and cash outflows.

 a. TRUE

 b. FALSE

 c. Can’t Say

 d. Sometimes

Question 8. The main advantage of cash flow budgeting is that it quickly points out any ??????.. problems in the future.

 a. Funds

 b. Accounting

 c. Technical

 d. liquidity

Question 9. The NPV is used because it considers the ????.. Value of the invested money.

 a. Present

 b. Forecasted

 c. Future

 d. Approximate

Question 10. The projects in which the internal rate of return is higher than the cost of capital are ??????.

 a. Losers

 b. Stable

 c. Profitable

 d. Perfact

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Module 4th Assesment

Case Study – Project Risk Analysis

Risk Management is the process of identifying, analyzing and responding to risk factors throughout the life of a project and in the best interests of its objectives. Proper risk management implies control of possible future events and is proactive rather than reactive.

For example: An activity in a network requires that a new technology be developed. The schedule indicates six months for this activity, but the technical employees think that nine months is closer to the truth. If the project manager is proactive, the project team will develop a contingency plan right now.

They will develop solutions to the problem of time before the project due date. However, if the project manager is reactive, then the team will do nothing until the problem actually occurs. The project will approach its six month deadline, many tasks will still be uncompleted and the project manager will react rapidly to the crisis, causing the team to lose valuable time.

Proper risk management will reduce not only the likelihood of an event occurring, but also the magnitude of its impact. I was working on the installation of an Interactive Voice Response system into a large telecommunications company. The coding department refused to estimate a total duration estimation for their portion of the project work of less than 3 weeks. My approach to task duration estimation is that the lowest level task on a project whose total duration is 3 months or more should be no more than 5 days. So… this 3 week duration estimation was outside my boundaries. Nevertheless, the project team accepted it. It appeared an unrealistic timeline for the amount of work to be done but they were convinced that this would work. No risk assessment was conducted to determine what might go wrong. Unfortunately, this prevented their ability to successfully complete their tasks on time. When the 3 weeks deadline approached and it appeared that the work wouldn’t be completed, crisis management became the mode of operation.

Risk Management Systems: Risk Management Systems are designed to do more than just identify the risk. The system must also be able to quantify the risk and predict the impact of the risk on the project.

The outcome is therefore a risk that is either acceptable or unacceptable. The acceptance or non- acceptance of a risk is usually dependent on the project manager’s tolerance level for risk.

If risk management is set up as a continuous, disciplined process of problem identification and resolution, then the system will easily supplement other systems. This includes; organization, planning and budgeting, and cost control. Surprises will be diminished because emphasis will now be on proactive rather than reactive management.

Risk Management…A Continuous Process: Once the Project Team identifies all of the possible risks that might jeopardize the success of the project, they must choose those which are the most likely to occur.

They would base their judgment upon past experience regarding the likelihood of occurrence, gut feel, lessons learned, historical data, etc.

Early in the project there is more at risk then as the project moves towards its close. Risk management should therefore be done early on in the life cycle of the project as well as on an on-going basis.

The significance is that opportunity and risk generally remain relatively high during project planning (beginning of the project life cycle) but because of the relatively low level of investment to this point, the amount at stake remains low. In contrast, during project execution, risk progressively falls to lower levels as remaining unknowns are translated into knowns. At the same time, the amount at stake steadily rises as the necessary resources are progressively invested to complete the project.

The critical point is that Risk Management is a continuous process and as such must not only be done at the very beginning of the project, but continuously throughout the life of the project. For example, if a project’s total duration was estimated at 3 months, a risk assessment should be done at least at the end of month 1 and month 2. At each stage of the project’s life, new risks will be identified, quantified and managed.

Risk Response: Risk Response generally includes:

· Avoidance…eliminating a specific threat, usually by eliminating the cause.

· Mitigation…reducing the expected monetary value of a risk event by reducing the probability of occurrence.

· Acceptance…accepting the consequences of the risk. This is often accomplished by developing a contingency plan to execute should the risk event occur.

In developing Contingency Plans, the Project Team engages in a problem-solving process. The end result will be a plan that can be put in place on a moment’s notice. What a Project Team would want to achieve is an ability to deal with blockages and barriers to their successful completion of the project on time and/or on budget. Contingency plans will help to ensure that they can quickly deal with most problems as they arise. Once developed, they can just pull out the contingency plan and put it into place.

Question-1: ………………………… plans will help to ensure that they can quickly deal with most problems

as they arise.

a. Active

b. Positive

c. Contingency

d. Advance

Question 2

A successful Project analysis requires???? management.

a. Action

b. Proper

c. Efficient

d. Crisis

Question 3

Accepting the consequences of the risk is called???..

a. Avoidance

b. Mitigation

c. Acceptance

d. Rejection

Question 4

In developing Contingency Plans, the Project Team engages in ?????.. process.

a. Precautionay

b. Maximising

c. Copying

d. Problem solving

Question 5

Once the Project Team identifies all of the possible risks that might jeopardize the success of the project, they must choose those which are the most likely to ????…

a. Paass

b. Fail

c. Occur

d. None

Question 6

Proper risk management implies control of possible future events and is ????… rather than reactive.

a. Safer

b. Dangerous

c. Neutral

d. proactive

Question 7

Risk Management is a ?????.. Process.

a. Positive

b. Negative

c. Profitable

d. Continuous

Question 8

Risk Management is the process of identifying, analyzing and responding to risk factors throughout the

life of a project and in the best interests of its objectives.

a. Identifying

b. Analysing

c. Responding

d. All

Question 9

The process of eliminating a specific threat, usually by eliminating the cause is called??

a. Active

b. Proactive

c. Responding

d. Avoidance

Question 10

The process of eliminating a specific threat, usually by eliminating the cause is called??

a. Active

b. Proactive

c. Responding

d. Avoidance

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Module 5 Assesment

Case Study- Project Implementation Issues

“The basic requirement for starting the implementation process is to have the work plan ready and understood by all the actors involved. Technical and non-technical requirements have to be clearly defined and the financial, technical and institutional frameworks of the specific project have to be prepared considering the local conditions. The working team should identify their strengths and weaknesses (internal forces), opportunities and threats (external forces). The strengths and opportunities are positive forces that should be exploited to efficiently implement a project. The weaknesses and threats are hindrances that can hamper project implementation. The implementers should ensure that they devise means of overcoming them. Another basic requirement is that the financial, material and human resources are fully available for the implementation”.

Implementation of Social Projects: As mentioned before, social projects are also very common in the water and sanitation field, as they usually target the human factor that is crucial for achieving sustainability of the SSWM measures. These projects are usually related to the change of  behaviours and strengthening of capacities by awareness-raising campaigns, training activities, institutional set-ups, etc.

As these projects cover a wide range of activities that are case-specific, how the implementation will take place will vary from case to case. However, the implementation of a project will always be successful if management strategies and coordination guidelines are clearly defined.

Independent of the type of project to be carried out, a work plan is needed indicating the pursued objectives, the expected results, the activities to be developed, as well as the budget available and

timeframe given. Each of the activities has to be assigned to a particular individual, department or organisation that should have proven experience and the capacity to achieve the goals. Local community workers, who can speak the local languages, are the first to integrate into the project, as these types of actions require that the implementers know the culture of the community to gain their trust and achieve a real impact.

It is of primordial importance that the financial resources are readily available at the beginning of the action, so the members of the team have the budget to initiate the activities and cover their own expenses. The management team should look for strategic partnerships with local leaders and spokespersons, giving institutional backup to the actions. Directors and CEOs of the leading organization should participate in the opening ceremonies or kick-off meeting supporting the local workers, thus facilitating future activities that will be done in the field.

Activity and financial reporting procedure have to be prepared and communicated to the members of the team. It should be clear from the beginning of the action, how all the costs incurred will be reported and reimbursed. It is important to keep procedures as simple as possible, using simple tables and template for reporting costs, field visits, interviews, workshops, meeting minutes, etc.

A controlling strategy has to be developed, in order to monitor the work done on the field. A clearly defined decision making process will set the roles and responsibilities of the members of the team: field worker & task leaders & work package leader & project manager -> coordinator of the project -> steering committee. This ladder will allow for immediate correction of actions and efficient use of (human) resources.

Communication channels should be kept open between the field workers and the management team, making use of mobile phones, SMS, E-mails, etc. It is important to avoid overloading the team with bureaucratic procedures that nobody will follow (like newsletters, long reports, weekly E-mails, etc).

Instead, monthly meetings should be planned, bringing the field workers together to report, exchange experiences and learn from each other’s successes and failing stories.

Question-1: A ????. the strategy has to be developed, in order to monitor the work done on the field.

a. Controlling

b. Defensive

c. Active

d. Proactive

Question 2

As per the case, Communication channels should be kept open between the field workers and the

management team.

a. Field Workers

b. Management

c. None

d. Both

Question 3

For a social Projects what type of people are required.

a. Soft Skilled

b. Unskilled

c. Skilled

d. Local

Question 4

It is important to keep procedures as ???… as possible, using simple tables and template for reporting

costs, field visits, interviews, workshops, meeting minutes, etc.

a. Lengthy

b. Forward

c. International

d. Simple

Question 5

Social projects normally relate to ????.

a. Sanitation

b. Water

c. None

d. Both

Question 6

The basic requirement for starting the implementation process is to have the work plan?????…by all the

actors involved.

a. Ready

b. Understood

c. Both

d. None

Question 7

The implementation of a project will always be successful if management strategies and coordination

guidelines are clearly ????…

a. Written

b. Presented

c. Defined

d. All

Question 8

The working team should identify their ???. For the success of a project.

a. Strengths

b. Weaknesses

c. Threats

d. All

Question 9

What hinders the Project Implementation?

a. Weaknesses

b. Threats

c. Both

d. None

Question 10

Who should participate Directors and CEOs of the leading organisation should participate in the opening

ceremonies or kick-off meeting supporting the local workers, thus facilitating future activities that will

be done in the field.

a. Directors

b. CEOs

c. Both

d. None

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Assignment 2

Case Study- Project Implementation: Issues and Prospects

Implementation is the process that turns strategies and plans into actions in order to accomplish strategic objectives and goals. Implementing your strategic plan is as important, or even more important, than your strategy. The video The Secret to Strategic Implementation is a great way to learn how to take your implementation to the next level.

Critical actions move a strategic plan from a document that sits on the shelf to actions that drive business growth. Sadly, the majority of companies who have strategic plans fail to implement them.

According to Fortune Magazine, nine out of ten organizations fail to implement their strategic plan for many reasons:

· 60% of organizations don’t link strategy to budgeting

· 75% of organizations don’t link employee incentives to strategy

· 86% of business owners and managers spend less than one hour per month discussing strategy

· 95% of the typical workforce doesn’t understand their organization’s strategy.

A strategic plan provides a business with the roadmap it needs to pursue a specific strategic direction and set of performance goals, deliver customer value, and be successful. However, this is just a plan; it doesn’t guarantee that the desired performance is reached any more than having a roadmap guarantees the traveller arrives at the desired destination.

Getting Your Strategy Ready for Implementation

For those businesses that have a plan in place, wasting time and energy on the planning process and then not implementing the plan is very discouraging. Although the topic of implementation may not be the most exciting thing to talk about, it’s a fundamental business practice that’s critical for any strategy to take hold. The strategic plan addresses the what and why of activities, but implementation addresses the who, where, when, and how. The fact is that both pieces are critical to success. In fact, companies can gain a competitive advantage through implementation if done effectively. In the following sections, you’ll discover how to get support for your complete implementation plan and how to avoid some common mistakes.

Avoiding the Implementation Pitfalls: Because you want your plan to succeed, heed the advice here and stay away from the pitfalls of implementing your strategic plan.

Here are the most common reasons strategic plans fail: Lack of ownership: The most common reason a plan fails is lack of ownership. If people don’t have a stake and responsibility in the plan, it’ll be business as usual for all but a frustrated few.

· Lack of communication: The plan doesn’t get communicated to employees, and they don’t understand how they contribute.

· Getting mired in the day-to-day: Owners and managers, consumed by daily operating problems, lose sight of long-term goals.

· Out of the ordinary: The plan is treated as something separate and removed from the anagement process.

· An overwhelming plan: The goals and actions generated in the strategic planning session are too numerous because the team failed to make tough choices to eliminate non-critical actions. Employees don’t know where to begin.

· A meaningless plan: The vision, mission, and value statements are viewed as fluff and not supported by actions or don’t have employee buy-in.

· Annual strategy: Strategy is only discussed at yearly weekend retreats.

· Not considering implementation: Implementation isn’t discussed in the strategic planning process.

The planning document is seen as an end in itself.

· No progress report: There’s no method to track progress, and the plan only measures what’s easy, not what’s important. No one feels any forward momentum.

· No accountability: Accountability and high visibility help drive change. This means that each measure, objective, data source, and initiative must have an owner.

Lack of empowerment: Although accountability may provide strong motivation for improving performance, employees must also have the authority, responsibility, and tools necessary to impact relevant measures. Otherwise, they may resist involvement and ownership.

It’s easier to avoid pitfalls when they’re clearly identified. Now that you know what they are, you’re more likely to jump right over them!

Covering All Your Bases: As a business owner, executive, or department manager, your job entails making sure you’re set up for a successful implementation. Before you start this process, evaluate your strategic plan and how you may implement it by answering a few questions to keep yourself in check.

Take a moment to honestly answer the following questions:

· How committed are you to implementing the plan to move your company forward?

· How do you plan to communicate the plan throughout the company?

· Are there sufficient people who have a buy-in to drive the plan forward?

· How are you going to motivate your people?

· Have you identified internal processes that are key to driving the plan forward?

· Are you going to commit money, resources, and time to support the plan?

· What are the roadblocks to implementing and supporting the plan?

· How will you take available resources and achieve maximum results with them?

· Implement your strategic plan effectively

Our solution includes a dedicated strategy advisor that will support the completion of your plan and it’s successful implementation.

You don’t need to have the perfect answers to all these questions right now, but just make sure that you’ve given all the questions equal consideration. You don’t want to look back six months from now and wish you had identified some big issues that are now threatening your success. If you’ve identified some red flags, assess if they’re huge obstacles or small ones. If they’re big, get them out of the way before you implement, even if it means pushing your timeline out for a while.

Question-1: …………………… is required for the success of a plan.

a. Mission

b. Vision

c. Goal

d. All

Question 2

A????. plan provides a business with the roadmap it needs to pursue a specific strategic direction and

set of performance goals.

a. Written

b. Defined

c. Strategic

d. Positive

Question 3

As per case,???.. % of organizations don?t link strategy to budgeting

a. 40

b. 50

c. 60

d. 70

Question 4

Companies can gain competitive advantage through implementation if done ????..

a. Jointly

b. Properly

c. effectively

d. Same day

Question 5

Employees don?t know where to begin is ????. Plan.

a. International

b. National

c. Overwhelming

d. Short

Question 6

For those businesses that have a plan in place, wasting time and energy on the planning process and then not implementing the plan is very ????…

a. Positive

b. Negative

c. Discourging

d. effectivel

Question 7

How many percentage of the typical workforce doesn?t understand their organization?s strategy.

a. 75

b. 60

c. 90

d. 86

Question 8

If people don?t have a stake and responsibility in the plan, it?ll be business as usual for all but a frustrated few is lack of ????..

a. Confidence

b. Finance

c. Ownership

d. Positivity

Question 9

The plan doesn?t get communicated to employees, and they don?t understand how they contribute is due to lack of ?????

a. Understanding

b. Communication

c. Conflicts

d. Lack of confidence

Question 10

The plan is treated as something separate and removed from the management process is due ????

a. Geniusness

b. Newness

c. Ordinary

d. Simplicity

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Management of Financial Institutions (EDL 406)-Semester IV

Management of Financial Institutions (EDL 406)-Semester IV

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1st Module Assessment

Case Study

 # Lendingkart to offer its credit risk analytics software to financial institutionsLendingkart, an online lender to small and medium enterprises (SMEs), will offer its credit risk analytics software as a service for other financial institutions in 2018, and aim to double its reach in the next six months, a top company executive said.“We plan to offer our analytics technology to other NBFCs (non-banking financial companies) and financial institutions sometime in 2017,” said Lendingkart’s co-founder Harshvardhan Lunia in a telephonic interview. “We aim to increase our reach across various credit product, geography and customer segments by monetizing our data analytics and credit scoring platform, which other lenders can use to evaluate the credit worthiness of the borrowers…Also, it will help us to disburse more loans without increasing our book size thus, increasing returns of assets for us,” Lunia added in an email response.Since its inception in 2014, the online NBFC, Lendingkart Finance Ltd has disbursed 7,000 loans to SMEs in over 450 cities. The company expects this number to cross 10,000 covering over 800 cities in next six months. Lendingkart Finance and Lendingkart Technologies Pvt. Ltd are part of the Lendingkart Group. Lendingkart Technologies has built analytics software to evaluate borrowers’ credit worthiness.Founded by Lunia and Mukul Sachan, Lendingkart underwrites working capital loans online to SMEs, which have an annual turnover of Rs12 lakh to Rs1-1.5 crore. On an average, these SMEs are lent Rs5.5-6 lakh at an annualized interest rate ranging between 16% to 24%, for a duration of six to 12 months. Lendingkart claims to have a loan application approval rate of 22-23%. The credit risk analytics technology analyses the borrower or an SME on the basis of over 2200 variables and data points, which includes industry type, business cash-flows and transactions, income tax return filings of the business, its previous loan and repayment records, among others. This is the technology that Lendingkart plans to share with other financial institutions.Lunia explains there are two possible ways in which it could monetize this service. “Using our (risk analytics) technology, we could co-lend with other financial institution in cases where SMEs have larger (capital) needs. The other way is that we charge (the financial institutions) for using our technology,” he said. However, Lunia added that it is too soon to forecast how much revenue Lendingkart will earn from its technology.Lendingkart, which has 350 employees across offices in Ahmedabad, Bengaluru and Mumbai, has raised over $40 million from Betelsmann India Investment, Darrin Capital Management and Mayfield India, among other investors. The fintech company competes with Bengaluru-based Capital Float (Zen Lefin Pvt. Ltd), Instakash Technlogies Pvt. Ltd, Neogrowth Credit Pvt. Ltd, IndiaLends (GC Web Ventures Pvt. Ltd), among others.In May, Capital Float raised $25 million (Rs170 crore) in an investment round led by US-based Creation Investments. In August, Mumbai-based NeoGrowth raised Rs15 crore from Frontier Investments Group and IndiaLends raised about Rs6.5 crore from DSG Consumer Partners, Siddharth Parekh and other angel investors.

Question 1. According to case, the Lendingkart Finance Ltd has disbursed almost ………… loans.

 a. 70,000

 b. 700

 c. 450

 d. 7000

Question 2. AS per the case Lendingkart offered its services in 2018 primarily to ……………… .

 a. MNCs

 b. SMEs

 c. Large Sized Companies

 d. Entrepreneurs

Question 3. AS per the case, Lendingkart’s main target to tap which type of industry as its new business plan?

 a. 3

 b. 9

 c. 6

 d. 12

Question 4. Lendingkart claims to have a loan application approval rate of ………… percent.

 a. 16

 b. 18

 c. 19-20

 d. 22-23

Question 5. Lendingkart company has planned to double its targerts in next ?????.. Months.

 a. 3

 b. 6

 c. 9

 d. 12

Question 6. NBFCs stands for Non Banking ………….. Companies.

 a. Future

 b. First Cash

 c. Finance

 d. Fastest Growing

Question 7. The credit risk analytics technology analyses the borrower or an SME on the basis of over ………. variables.

 a. 1000

 b. 2000

 c. 3000

 d. 4000

Question 8. What’s the Employee strength of the Lendingkart?

 a. 300

 b. 350

 c. 260

 d. 170

Question 9. Which software has been built by Lendingkart Technologies ……………. software to evaluate borrowers’ credit worthiness.

 a. Sustainable

 b. Super

 c. Lenskart

 d. Analytics

Question 10. Who are the promoters of Lendingkart?

 a. NBFCs

 b. SMEs

 c. Lunia and Mukul

 d. Investors

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2nd Module Assessment

Case Study

Case: Marketing Mix in Banking

Promotion mix includes advertising, publicity, sales promotion, word – of – mouth promotion, personal selling and telemarketing. Each of these services needs to be applied to different degree. These components can be useful in the banking business in the following ways:

Advertising is paid form of communication. Banking organizations use this component of the promotion mix with motto of informing, sensing and persuading the customers. While advertising it is essential to be aware of key decision making areas so that instrumentally helps banks at micro and macro levels.

Finalizing the budget:

This is related to the formulation of the budget for advertisement. The bank professionals, senior executives and even the policy planners are found to be involved in the process. The business of a bank determines the scale of the advertisement budget. In addition, the intensity of competition also plays a decisive role since in the majority of cases; we find a increase in the budget due to a change in the competitor’s strategy.

Selecting a suitable vehicle:

There are a number of devices to advertise, such as broadcast media, telecast media and print media. In the face of the budgetary provisions, it is necessary to select a suitable vehicle. For promoting the banking business, the print media is found to be economic as well as effective.

Making possible creative:

The advertising professionals bear the responsibility of making the appeals, slogans and messages more creative. Here, creative means making the advertisement programs distinct to the competitive organizations, which are active in influencing the impulse of the customers and successful in informing and sensing the customers. This requires an in-depth knowledge of the receiving capacity of the target market for which the advertisements are designed.

Testing the effectiveness:

It bears an analogous significance that our advertisements are effective in influencing the impulse of customers by energizing persuasion. For making the process effective, it is essential to test the effectiveness before launching of the commercial advertisements.

An instrumentality of branch managers:

At micro level, a branch manager bears the responsibility of advertising locally so that the messages reach the target audience.

Characters and themes:

At apex level it is also important that while advertising the senior executives watch the process minutely and select events, characters having a regional orientation. The popular characters and sensational moments are likely to be impact generating. The theme for appeals and messages also needs due attention. Of course, they have a legitimate right of advertising but it is not meant that like the goods manufacturing organizations, the service generating organizations also start making invasion on culture. It is necessary to regulate a bias to gender, profession, region or so.

Public relations:

In the banking services the effectiveness of public Relations is found in high magnitude. It is in this context that difference is found in designing of the mix for promoting the banking services.

Telemarketing:

The telemarketing is a process of promoting the business with the help of sophisticated communication network. Telemarketing is found instrumental in advertising the banking services and the banking organizations can use this tool of the promotion mix both for advertising and selling. This minimizes the dependence of banking organizations on sales people and just a counter or center as listed in the call numbers may service multi- dimensional services.

Telemarketing is likely to play an incremental role in marketing the banking services. The leading foreign banks and even some of the private sector commercial banks have been found promoting telemarketing and they have been getting positive results for their efforts.

Word-Of-Mouth

Much communication about the banking services actually takes place by word- of- mouth information, which is also known as word- of- mouth promotion. Oral publicity plays an important role in eliminating the negative comments and improving the services. This also helps the banker to know the feedback, which may simplify the task of improving the quality of services. This component of promotion mix is not to influence budget adversely or generate additional financial burden. By improving the quality of services and by offering small gifts to the word- of- mouth promoters, bankers can get more business command in their area.

The above facts make it clear that such kind of promotion is influenced by a number of factors. The most dominating factor is the quality of services offered. The bank professionals, the frontline staff and the senior executives should realize that degeneration in quality would make this tool effective.

Question-1: ………….is likely to play an incremental role in marketing the banking services

 a. Telemarketing

 b. Radio

 c. Television

 d. Posters and banners

Question 2. Advertisement are considered effective when they?..

 a. Energize persuasion

 b. Cost effective

 c. Increase profit

 d. Both option B and Option C

Question 3. In the banking services the effectiveness of??. is found in high magnitude

 a. Cost

 b. Slogans

 c. Profit

 d. Public Relations

Question 4. Promotion mix includes advertising, publicity, sales promotion, word ? of ? mouth promotion ???.

 a. Telemarketing

 b. Personal selling

 c. Both option A and option B

 d. Neither option A nor option B

Question 5. What determines the scale of the advertisement budget.?

 a. Customers

 b. Sales

 c. Profit

 d. Business

Question 6. What is more important for advertisement professionals while making the advertisement programs.?

 a. Appeals

 b. Slogans

 c. Creativity

 d. Cost effective

Question 7. What plays an important role in eliminating the negative comments and improving the services?.

 a. Informing, sensing and persuading the customers

 b. Telemarketing

 c. word- of- mouth promotion

 d. Telecast media

Question 8. Which device of advertisement is economic as well as effective.?

 a. Radio

 b. Print media

 c. Telecast media

 d. Broad cast media

Question 9. Who bears the responsibility of advertising locally.?

 a. Senior manager

 b. Branch manager

 c. sales manager

 d. Area manager

Question 10. Why organizations use advertisement.?

 a. Informing, sensing and persuading the customers

 b. Informing, selling and persuading the customers

 c. Informing, publicity and promotion

 d. Both option B and Option C

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3rd Module Assessment

Case Study

Global Depository Receipt (GDR) :

Issues and ProspectsGlobal Depository Receipt (GDR) is an instrument in which a company located in domestic country issues one or more of its shares or convertibles bonds outside the domestic country. In GDR, an overseas depository bank i.e. bank outside the domestic territory of a company, issues shares of the company to residents outside the domestic territory. Such shares are in the form of depository receipt or certificate created by overseas the depository bank.Issue of Global Depository Receipt is one of the most popular ways to tap the global equity markets. A company can raise foreign currency funds by issuing equity shares in a foreign country. A company based in USA, willing to get its stock listed on German stock exchange can do so with the help of GDR. The US based company shall enter into an agreement with the German depository bank, who shall issue shares to residents based in Germany after getting instructions from the domestic custodian of the company. The shares are issued after compliance of law in both the countries. The mechanism of GDR is understood with the help of following example – The domestic company enters into an agreement with the overseas depository bank for the purpose of issue of GDR. The overseas depository bank then enters into a custodian agreement with the domestic custodian of such company. The domestic custodian holds the equity shares of the company.On the instruction of domestic custodian, the overseas depository bank issues shares to foreign investors.The whole process is carried out under strict guidelines. GDRs are usually denominated in U.S. dollars. Let’s now look at the advantages and disadvantages of Global Depository Receipt.ADVANTAGES OF GDRThe following are the advantages of Global Depository Receipts:•         GDR provides access to foreign capital markets.•         A company can get itself registered on an overseas stock exchange or over the counter and its shares can be traded in more than one currency.•         GDR expands the global presence of the company which helps in getting international attention and coverage.•         GDR are liquid in nature as they are based on demand and supply which can be regulated.•         The valuation of shares in the domestic market increase, on listing in the international market.•         With GDR, the non-residents can invest in shares of the foreign company.•         GDR can be freely transferred.•         Foreign Institutional investors can buy the shares of company issuing GDR in their country even if they are restricted to buy shares of foreign company.•         GDR increases the shareholders base of the company.•         GDR saves the taxes of an investor. An investor would need to pay tax if he purchases shares in the foreign company, whereas in GDR same is not the case. DISADVANTAGES•         The following are the disadvantages of Global Depository Receipts:•         Violating any regulation can lead to serious consequences against the company.•         Dividends are paid in domestic country’s currency which is subject to volatility in the forex market.•         It is mostly beneficial to High Net-Worth Individual (HNI) investors due to their capacity to invest high amount in GDR.•         GDR is one of the expensive sources of finance. ConclusionGDR is now one of most important source of finance in today’s world. With globalization, every company is willing to expand its wings. GDR makes it possible for such companies to reach and tap international markets. GDR provides companies in emerging markets with opportunities for rapid growth and development.

Question1. Dividends are paid in the domestic country’s currency.

 a. TRUE

 b. FALSE

 c. Sometimes

 d. Always

Question 2. Does GDR provides access to foreign capital markets.

 a. Yes

 b. No

 c. Sometimes

 d. Never

Question 3. GDR are ????… in nature as they are based on demand and supply which can be regulated.

 a. Solid

 b. Exchange

 c. Liquid

 d. Cash Equal

Question 4. GDR is one of the ????? sources of finance.

 a. Vital

 b. Significanct

 c. Cheap

 d. Expensive

Question 5. GDR saves the taxes of an investor.

 a. TRUE

 b. Sometimes

 c. Never

 d. FALSE

Question 6. GDRs are suitable for ???????..

 a. Indians

 b. Chineese

 c. Foreigners

 d. Australians

Question 7. HNI stands for High Net-Worth ???????.. .

 a. Indians

 b. Indications

 c. Invoices

 d. Individuals

Question 8. Is it right to say that GDR can be freely transferred.

 a. FALSE

 b. TRUE

 c. Sometimes

 d. Never

Question 9. Issue of Global Depository Receipt is one of the most popular ways to tap the global ??????? markets.

 a. Bonds

 b. Equity

 c. Loans

 d. Debentures

Question 10. Under GDRs, whar are issued?

 a. Shares

 b. Notes

 c. Cheques

 d. Invoices

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4th Module Assessment

Case Study

Competition in the Insurance Sector

A simple way to get a sense of competition in the insurance sector is to look at aggregation sites like (policybazar.com or for example). You will get 15-20 quotes for a query about vehicle insurance and as many if not more for other categories, such as life or health. Not so long ago, there were five Indian insurers, and each was entirely government owned. Today, the Insurance Regulatory and Development Authority lists a total of 24 life insurers, 33 general insurers, two re-insurers, and 17 health insurers. Most are private service providers, often with an overseas major partner. The opening up of the sector has meant vast improvements in terms of choices. This has also led to fraud in some cases, such as the notorious mis-selling of Unit Linked Insurance Plans or ULIPs in the early 2000s.

In the last year or so, the sector has seen the launch of multiple initial public offerings. The IRDA allowed insurers to tap the financial market only in August 2016, when it finalised the norms for making public issues, through which companies could list their stocks in the market for public investment. ICICI Prudential Life Insurance launched the first IPO in September 2016, within a month of IRDA’s go-ahead.

Numerous other companies have followed, including ICICI Lombard General Insurance, SBI Life and General Insurance Corporation to name a few. Just this month, the government-owned New India Assurance kicked off its IPO followed by HDFC Standard Life Insurance, which made its debut on the stock market on Friday after floating its IPO earlier this month. Each of these issues raised substantial sums. There are more primary issues from insurers in the pipeline, including from public sector units. The government wants to divest 25% in each of the insurers it owns, in several tranches, and it has started this process with the General Insurance Corporation and the New India Assurance IPOs. The stock market is booming, which means that the insurance sector might easily mop up Rs 35,000 crore or more through IPOs in this financial year.

Scope for growth

India is exceedingly under-insured by global standards. In the last financial year, insurance penetration reached 3.4% in India. The country accounts for less than 1.5% of all global premiums (by number) and just about 2% of life insurance premiums. But with close to 12% of global population, it can aim for a growth of at least six times in the sector. The gross premiums for general insurance (all kinds of insurance barring life, health and reinsurance) are reckoned to be about 0.8% of India’s GDP – that’s about one-third the global average of around 2.5% of the GDP.

Overall, insurance per capita is $13 for India and around $285 globally. India’s nominal per capita ($1,709 in 2016, according to World Bank Data) is also much lower than the global average per capita ($10,150). But even adjusting for that, India’s per-capita insurance cover is roughly one-fourth of what it could be. Hence, the Ministry of Commerce estimates that the Indian insurance sector could grow four times in the next decade, growing to $240 billion from its current size of $60 billion. Those estimates may not be out of line.

From a historical perspective, insurance has been the fastest-growing global industry over several centuries. The European voyages of exploration that opened up sea routes to Asia were generally backed by pioneering insurers. Marine insurance for ships and cargoes and agricultural insurance against crop failures – these were early risks covered in pre-industrial societies. By the 19th century, everything from new railway lines, to undersea telegraph cables and Chicago slaughterhouses were being insured. Modern commerce would be inconceivable without insurance cover for most big projects. Even factors like risks arising from political instability are covered by global insurers. offering a backstop to businesses that operate in volatile environments.

This business can be vastly profitable. A comparison of the insurance and banking sectors is illuminating. Banks borrow money at varied rates of interest and tenures. Some of those loans are demand deposits that can be redeemed anytime, as in savings accounts. Other loans have defined tenures for deposits. Insurers, on the other hand, receive premiums. For term insurance, which is the most common kind, customers pay a premium regularly and insurance companies need to pay up only if there is a valid claim. Even “money-back” premia on some life insurance policies carry very low interest or zero interest. Insurers, therefore, have access to long-term funds at nearly zero cost.

Banks have problems lending money out for longer than the average tenure of loans they have taken. Let us say the bulk of a bank’s funds consist of loans for tenures of one year or less (money people have put into fixed deposits or savings accounts). That bank cannot safely lend this for five-year tenures, since the creditors may want their money back. Hence, banks are always struggling to handle asset-liability mismatches, when the liabilities (loans taken) are short-tenure and profitable assets (or the loans given) are long-term.

Insurers do not have that problem. They can lend, or otherwise invest, for the very long-term. The world’s greatest investor, Warren Buffett, is also one of the world’s largest insurers. That is not coincidental. He has used his insurance funds wisely. Consider something like a toll-road project, a telecom network, or a power plant. These are capital-intensive works. These are also long-gestation – they take years to complete and earn zero revenue until they are ready. Once up and running, these projects may be highly profitable. Insurers can fund this sort of project with much greater comfort than banks.

Proceed with caution: The flip side of the equation: insurers earn a living by taking big bets that can blow up spectacularly. Usually, the premiums charged are a small fraction of the potential risk covered. One tsunami or super-cyclone that wipes out an entire coastline, or a disaster at a nuclear plant (or both), or even a military coup, might drive insurers into bankruptcy. Insurers offering crop insurance have to reckon with the possibility of seasonal droughts or floods that lead to claims across entire districts.

Hence, regulators demand that the promoters of insurance companies have plenty of their own skin in the game so as to be able to cover disasters. There are high equity and reserve requirements. That is one reason for insurers to raise cash through the equity market. So, how does one value an insurance company? This is not easy. You may have a sense of the premium growth potential or the breadth and efficiency of the marketing network, but it hard to get a sense of the risk. Public sector insurance companies are more exposed to risks because they are forced to offer highly-subsidised crop insurance or health covers. They are also often forced to invest in poor public sector assets, like bankrupt banks. As the industry gears up for a potential boom, citizens can tap into it by subscribing to insurance IPOs or buying into already-listed insurance companies. But this comes at high risk. And the old principle of caveat emptor – let the buyer beware – applies.

Question-1: As per case there are how many registered insurance companies in total.

 a. 64

 b. 74

 c. 84

 d. 57

Question 2. As per case, who is the largest insurer in the world.

 a. IRDA

 b. RBI

 c. Warren Buffet

 d. ICICI-Pru

Question 3. As per global standards, India is declared as ???..

 a. over Insurer

 b. Star Insurer

 c. Undr Insurer

 d. At Par

Question 4. India in the global premium received has how much percentage share?

 a. Less than 05%

 b. Above 10%

 c. Above 21%

 d. 25%

Question 5. Insurers have access to long-term funds at nearly ????..cost.

 a. Half

 b. Full

 c. Partial

 d. zero

Question 6. IPOs stands for ????. Public offer.

 a. Investment

 b. Indian

 c. Intrinsic

 d. Initial

Question 7. Most of the private insurers in India have taken partners from??.

 a. Overseas

 b. India

 c. US

 d. UK

Question 8. Overall, insurance per capita around globe is $ ???.

 a. 13

 b. 343

 c. 10,150

 d. 285

Question 9. The main problem of banks in India is to handle ???????.. Mismatch

 a. Asset

 b. Liability

 c. Both

 d. None

Question 10. ULIP plans are linked to ?????????. Market.

 a. Share

 b. Money

 c. Insurance

 d. Capital

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5th Module Assessment

CASE STUDY

Non-Banking Financial Companies (NBFC) are establishments that provide financial services and banking facilities without meeting the legal definition of a Bank. They are covered under the Banking regulations laid down by the Reserve Bank of India and provide banking services like loans, credit facilities, TFCs, retirement planning, investing and stocking in money market. However they are restricted from taking any form of deposits from the general public. These organizations play a crucial role in the economy, offering their services in urban as well as rural areas, mostly granting loans allowing for growth of new ventures.

NBFCs also provide a wide range of monetary advices like chit-reserves and advances. Hence it has become a very important part of our nation’s Gross Domestic Product and NBFCs alone count for 12.5% raise in Gross Domestic Product of our country. Most people prefer NBFCs over banks as they find them safe, efficient and quick in assisting with financial requirements. Moreover, there are various loan products available and there is flexibility and transparency in their services.

There are a huge number of NBFCs operating in our country but here’s a look at the current top 10 NBFCs in India. (Links to an external site.)

Power Finance Corporation Limited

Finance Corporation Limited was founded in 1986 and is a Navratna Status company. Mukesh Kumar Goel is the Chairman & Managing Director of the company. Power Finance Corporation Limited is known to provide financial assistance to different power projects in the country. It supports organizations involved in Power generation, transmission and distribution. The company is also listed in National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).

Shriram Transport Finance Company Limited

Transport Finance Company Limited focuses on funding commercial and business vehicles, besides others. The company was founded in 1979 and has been offering funding services for Light Duty Trucks, Heavy Duty Trucks, Mini Trucks, Passenger Vehicles, Construction Vehicles and Farm Equipments. The company’s specialisation is in general insurance, mutual funds, common assets, stock broking and general protection.

Bajaj Finance Limited

was founded in 2007 and is a unit of Bajaj Holdings and Investments. It offers loans to doctors for career enhancement, home loans, gold loans, individual Loans, business and entrepreneur loans and is an extremely popular finance company. Apart from these, Bajaj Finserv also provides services like wealth advisory, lending money and general insurance. It has over 1400 branches across the country with more than 20000 employees.

Mahindra & Mahindra Financial Services Limited

& Mahindra Financial Services Limited (MMFSL) was established in 1991 and has over 1000 branches, and a customer base of over 3 million, all over the country. MMFSL is one of the most renowned organizations and has two affiliates offering Insurance services and rural housing financial services. It also specialises in offering gold advances, vehicle advances, corporate advances, home credits, working capital advances and much more.

Muthoot Finance Ltd

Muthoot Finance Ltd is India’s first NBFC tracing its history back to 1888, when it began as a small lender from a village in Kerala. Muthoot Finance Ltd sanctions loans only against pledge of gold ornaments. It is a leader in India’s gold loan and finance market. Besides financing gold transactions, Muthoot Finance Ltd offers foreign exchange services, money transfers, wealth management services, travel and tourism services. Gold coins are also sold at Muthoot Finance Branches. The company has its headquarters in Kerala, India, and operates over 4,400 branches throughout the country.  It is also the parent company of Muthoot Housing Finance (India) Ltd, which offers home loans.

HDB Finance Services

HDB Financial Services is operated by India’s largest private sector HDFC Bank. It offers a variety of secured and non-secured financial loans through a network of more than 1,000 branches in 22 Indian states and 3 Union Territories. It provides secured and unsecured loans, including personal and business loans, doctor’s loans, auto loans, gold loans, new to credit loans, enterprise business loans, consumer durables loans, construction equipment loans, new and used car loans, equipment loans, and tractor loans. The company operates through Lending Business and BPO Services segments. It is considered the fastest growing NBFC in India today.

Cholamandalam

Cholamandalam Investment and Finance Company Limited (Chola), was incorporated in 1978 as the financial services arm of the Murugappa Group. Chola started as an equipment financing company and has surged ahead as a complete financial services provider offering all kinds of services like – vehicle finance, home loans, home equity loans, SME loans, investment advisory services, stock broking and a host of other financial services to customers. Chola has 725 branches across India with assets under management above INR 35,000 Crores.

Tata Capital Financial Services Ltd

Tata Capital Financial Services Limited is top of India’s leading NBFCs. Established in 2007, it is a subsidiary of Tata Sons Limited. TCFS describes itseld as a one-stop financial service provider that caters to the diverse needs of retail, corporate and institutional customers across businesses. It is registered with RBI as ‘Systemically Important Non-Deposit Accepting Non-Banking Financial Company (NBFC)’. Among the various products offered by TCFS to individuals, families and businesses, are commercial finance, infrastructure finance, wealth management, consumer loans and distribution and marketing of Tata Cards.

L & T Finance Limited

L & T Finance Limited is a strong player in the non banking financial sector and was established in 1994. Headquartered in Mumbai, L & T offers funding services to different sectors like trade, industry, agriculture, Commercial Vehicle loans, Individual Vehicle loans, and corporate and rural loans. The company caters to more than 10 lakh people. In 2010, L & T was awarded the “Company of the year” in the Economic Times awards.

Aditya Birla Finance Ltd.

Aditya Birla Finance Limited, a part of the Aditya Birla Financial Services, was incorporated in 1991 and is an ISO 9001:2008 certified NBFC. ABFL is registered with RBI as a ‘systemically important non-deposit accepting NBFC’ and it ranks among the top five largest private diversified NBFCs in India. It offers precise and customised solutions across a wide range, from corporate finance to commercial mortgage, and from capital markets to structured finance.

Question-1: AS per case, which Indian company is 9001:2008 certified?

 a. Larsen Turbo

 b. Tata

 c. Aditya

 d. Cholamandalam

Question 2. Indian NBFCs are regulated by ?????

 a. ICICI

 b. RBI

 c. Chola

 d. Muthoot

Question 3. NBFCs offer their services I only ??? areas.

 a. Rural

 b. Urban

 c. None

 d. Both

Question 4. Tha main feature of a NBFC ids that they can ????? funds for savings.

 a. Not Accept

 b. Accept

 c. Reject

 d. Insurance

Question 5. Tha main taskof an NBFC is to offer?. Services.

 a. Banking

 b. Financial

 c. Both

 d. None

Question 6. Which company has two affiliates offering Insurance services and rural housing financial services.

 a. Muthoot

 b. Bajaj

 c. Mahindra

 d. Aditya

Question 7. Which Indian NBFC has more than 700 branches across India with assets under management above INR 35,000ÿCrores.

 a. RBI

 b. Aditya

 c. Chola

 d. Larsen

Question 8. Which Indian NBFC is declared as Navratana Status.

 a. Bajaj

 b. Chola

 c. Power Finance

 d. Mahindra

Question 9. Which Indian NBFC is the oldest one in the country.

 a. Tata

 b. Larsen

 c. Aditya

 d. Muthoot

Question 10. Which NBFC was established in 1994?

 a. Larsen Turbo

 b. Tata

 c. Aditya

 d. Cholamandalam

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Assignment 2

Case Study # Monetary Policy working or Not?

That growth rate was “despite falling commodity prices and China’s slowdown”, Paul Bloxham, HSBC’s chief economist for Australia and New Zealand highlighted in a note to clients yesterday. Bloxham said that it’s the RBA and the way it has handled monetary policy, both during the mining boom and since, which “deserves much of the credit”.

Cuts to interest rates over the past four years and a significant fall in the AUD have been the key supports for growth. Low rates have lifted housing prices and construction, which is feeding through to a positive wealth effect on consumer spending. The lower AUD is supporting strong export growth, particularly of tourism and education services to Asia, Bloxham wrote. But Bloxham says there are still headwinds for the economy as it rebalances, meaning monetary policy still has a role to play. That’s because “although local growth has been solid in recent years, it has not been rapid enough to absorb all of the available spare capacity”. He sets out four reasons why the RBA may need to ease again.

1. Low wages, low inflation. Unemployment has fallen to 6% but it is still well above the “full employment level of 5.25-5.5%”. That means wages growth is weak, “even the state with the strongest economic conditions, New South Wales,” Bloxham said. That has contributed to underlying inflation falling to the bottom of the RBA’s 2-3% band. 2. Mining investment will keep falling and oversupplied commodity markets persist. Bloxham highlights the unwind of the mining investment boom has further to run – the RBA has said consistently that this “drag” on economic growth will continue into 2017. Notwithstanding the recent rally in commodities from recent lows, Bloxham says “over-supply in many markets is set to keep them low”.

Global growth is below trend and the Asian economies are being held back by weak global trade, he added.

3. The housing boom is over. It was household consumption that really drove the strength of recent growth, contributing 0.4% of the 1.6% growth rate in the fourth quarter of 2015. Bloxham says that is now at risk given the inevitable slowing in the housing boom. But he says “the end of the housing boom means it is unlikely that household consumption will continue at the same strong pace observed late last year”.

4. The rally in the Australian dollar threatens growth. The Aussie dollar has been a big part of the economic strength and transition. Its fall has helped facilitate the pick up in tourism and service exports. But that is at risk now with the Aussie up near 75 cents, not the 65 cents many had forecast, Bloxham says: Low global inflation, further expected rate cuts from the ECB and Bank of Japan and the markets’ doubts about whether the US Federal Reserve will hike again this year, have meant that speculative positions have turned long on the Australian dollar. The currency has climbed from its low point of US69 cents in January to now trading around US74 cents. A higher Australian dollar is unhelpful for the rebalancing story and likely to put further downward pressure on already low underlying inflation. This begs the question of will “there be enough growth to keep inflation on target?”

That’s doubly important because Australian financial conditions have tightened as the Aussie has rallied and as “effective mortgage and business lending rates have also been lifted in recent months, despite a steady RBA cash rate, as a result of regulatory changes and higher global funding costs,” Bloxham said. So in the end, his call is that if the RBA wants to keep growth on track it will need to cut rates by 25 basis points, 0.25%, in the next few months.

Question-1: According to Bloxham What is supporting strong export growth.?

 a. High AUD

 b. lower AUD

 c. Increment in interest rates

 d. Falling economy

Question 2. According to Paul Bloxham which deserves much of the credit for growth rate?

 a. RBA

 b. Monetary policy

 c. RBA and its way to handle monetary policy

 d. Neither option A nor option C

Question 3. As per the case global growth is?..

 a. Static

 b. Below trend

 c. Above trend

 d. Increasing

Question 4. As per the case oversupplied commodity markets??.

 a. Persists

 b. Ended

 c. Started

 d. Changed

Question 5. As per the case, what drove the strength of recent growth.?

 a. Australian dollar

 b. Inflation

 c. U.S dollar

 d. Household consumption

Question 6. The case study talked about the finding and forecasting of?..

 a. HSBC’s chief economist for Australia

 b. HSBC’s chief economist for Australia and New Zealand

 c. HSBC’s chief economist for New Zealand

 d. Neither option A nor option C

Question 7. What has been the key supports for growth over the past four years ?

 a. Cut in interest rates

 b. Increment in the AUD

 c. Monetary policy

 d. Both option A and option B

Question 8. What have been the key supports for growth.?

 a. Decling interest rates

 b. fall in the AUD

 c. Both option A and option B

 d. Neither option A nor option C

Question 9. What helps in pick up of tourism and service exports.?

a. Fall in Australian Dollar

 b. Increment in the Australian dollar

 c. U.S dollar

 d. Inflation

Question 10. Which state has the strongest economic conditions as per the case.?

 a. U.S

 b. Japan

 c. Australia

 d. New South Wales

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Corporate Tax Planning (EDL 405)-Semester IV

Corporate Tax Planning (EDL 405)-Semester IV

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1st Module Assessment

Case Study

Case Study # Chasing Taxes

Indonesia and India have embarked on big, bold and historic hunts for hidden assets. The moves come amid a global shift in attitude toward tax avoidance and offshore holdings but the emerging economies have singular reasons for seeking undeclared riches. Each wants fresh cash for much-needed infrastructure projects and a chance for a fairer distribution of wealth.

In the last days of September, in the dark of 3 a.m., people began queuing outside a single government building in central Jakarta. They were clutching financial papers that in some cases exposed offshore accounts worth billions of rupiah. Two months earlier, President Joko Widodo had launched a massive tax amnesty campaign to repatriate hidden assets to Indonesia. As the first reporting deadline loomed, crowds swelled into the office that handles the tax affairs of the country’s wealthiest individuals and companies.

More than 10,000 people a day answered the president’s pitch in September: declare assets now and take advantage of a discounted tax rate — as little as 2% compared to 25% — and, in turn, be part of Indonesia’s future. Revenue from the nine-month amnesty, continuing through March, is promised to build railway networks, ports and airports in a country whose prospects, politically and economically, have been on the ascent.

Widodo, who was elected in 2014, has cast the program as good for business — and pivotal to the next generation. Twice before Indonesia tried amnesties to lure money back home but those efforts in 1964-65 and in 1984 failed, in part, due to poor incentives. Now Indonesia has calculated that political stability and a dramatic drop in the tax rate could help to bring in an estimated 11,400 trillion rupiah ($851 billion) parked overseas.

We have a large amount of money outside, Widodo told a group of businessmen in Jakarta this summer. “What is most important now is to bring this money back to our country. We need your participation right now to build the nation.”

Indonesia’s call for revenue echoes across many countries in Asia where private wealth has risen steeply in the past decade. New wealth accounts for about 60% of the total wealth growth in the Asia-Pacific region excluding Japan and, by 2019, the region is expected to account for 26% of all global financial wealth, according to a recent Boston Consulting Group report. It is those potential taxpayers that emerging economies want to rein in as partners in their next phase of development.

People streamed to banks in New Delhi to try to withdraw or deposit old currency notes banned on Nov. 8. India has taken more radical steps this year, starting with amnesty and then launching a wholesale assault on its shadow economy by banning high-denomination bank notes. Life in the cash-starved society has morphed into a kind of collective suffering. But both India and Indonesia see their experiments as helping to secure economic ballast at a critical time to attract domestic and global investment. Transparent accounting at home will help each country to prepare for tougher global standards for financial information that will go into effect next year.

Indonesia’s hunt for revenue is spurred by ambition for this country of 20 million taxpayers. It has enjoyed 5% annual growth for the past few years. In order to keep this growth momentum, the country needs to build and improve its infrastructures such as airports and power grids. The government has estimated 5,500 trillion rupiah is needed through 2019 for infrastructure; the state budget can likely cover a quarter of that.

Amnesty became appealing first to trade associations, law firms and major developers that liked the lower tax rate — and possibly saw future government contracts for big construction. Wealth managers said tax rates were locked in depending on how early declarations were made. That sparked the September rush. “Just with 2% or 4%, you can bring the ‘dark’ money under the sun,” said a private banker in Singapore. “Once you declare amnesty, the money is no longer ‘dark.'”

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2nd Module Assessment

Case Study

Case: Accounting for Merger and Acquisitions

Mergers and acquisitions are types of business combinations in which separate entities or operations of entities are merged into one reporting entity. There are three common forms of mergers that are the result of the relationship between the merging parties.

In a horizontal merger, a company acquires a competitor firm that produces and sells an identical or similar product in the same geographic area.

In a vertical merger, a company acquires a customer or supplier.

Conglomerate mergers include a number of other types of business combinations, regardless of common geographic location or industry affiliation. Conglomerate mergers may arise when a company wants to expand for reasons not directly related to competition in the marketplace, such as when a furniture manufacturer buys an appliance manufacturer or when a sales agency in Ohio buys a sales agency in Florida. There are two main methods of mergers.

Under the pooling method, all assets and liabilities were recorded at existing book values while goodwill was not recorded. As a result, the values for the assets and liabilities listed in the accounting records and financial statements of each company involved in a merger or acquisition were carried forward to the surviving company that remained or was created after the business combination. Under the pooling method, no new assets or liabilities were created by the business combination. Further, the income statement of the surviving company included all of the revenues and expenses of the fiscal year for each company. Ultimately, the operating results for both companies were combined for all periods prior to the closing date, and previously issued financial statements were restated as though the companies had always been combined.

The purchase method is now the preferred accounting method used for business combinations. Under the purchase method, the purchase price and costs of the acquisition are allocated to the identified assets that are acquired, whether tangible or intangible and to any liabilities that are assumed based on the current fair market value of the assets and liabilities. If the purchase price exceeds the fair value of the purchased company’s net assets, the excess is recorded as goodwill. Goodwill or the excess of the cost of an acquired entity over the net of the amounts assigned to assets acquired and liabilities assumed, is almost always present because the purchase price of a target or its assets is almost always higher than the sum of the fair values of all of the assets being purchased. This is because a company is more than just the sum of its assets. It also has intangible qualities such as its reputation in the business community that add to its value beyond the market value of its assets. However, the purchase method does not allow the allocated purchase price for any asset to exceed its fair value. Thus, the excess is recorded as goodwill as a type of catchall category.

Question-1: ………………..  statement of the surviving company included all of the revenues and expenses of the fiscal year for each company.

 a. Loss

 b. Profit

 c. Income

 d. All

Question 2. Goodwill is a ????.. Asset.

 a. Precious

 b. Tangible

 c. Intangible

 d. Accounting

Question 3. If the purchase price exceeds the fair value of the purchased company’s net assets, the excess is recorded as ?????..

 a. Profit

 b. Loss

 c. Goodwill

 d. None

Question 4. In which type of merger, a company acquires a customer or supplier.

 a. Horizontal

 b. Vertical

 c. Conglomerate

 d. All

Question 5. In which type of merger, company acquires a competitor firm that produces and sells an identical or similar product in the same geographic area.

 a. Horizontal

 b. Vertical

 c. Conglomerate

 d. All

Question 6. Under the ???.. method, all assets and liabilities are recorded at existing book values while goodwill is not recorded.

 a. Balance

 b. Vertical

 c. Pooling

 d. Purchase

Question 7. Under the ????. method, no new assets or liabilities were created by the business combination.

 a. Balance

 b. Vertical

 c. Pooling

 d. Purchase

Question 8. What actually comes in business combination?

 a. Merger

 b. Acquisitions

 c. None

 d. Both

Question 9. Which merger includes a number of other types of business combinations?

 a. Horizontal

 b. Vertical

 c. Conglomerate

 d. All

Question 10. Which method is now the preferred accounting method used for business combinations.

 a. Balance

 b. Vertical

 c. Purchase

 d. Pooling

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3rd Module Assessment

CASE STUDY-

Valuation of Goodwill and Shares          

VALUATION OF GOODWILL            

 I. Methods for Valuation of Goodwill:         

Ø  Capitalisation Method             Ø  Super Profits Method             Ø  Annuity Method           

Capitalization Method Steps:           

o   Future Maintainable Profits (FMP)            o   Normal Rate of Return (NRR)             o   Normal Capital Employed (NCE = FMP/NRR)         

o   Actual Capital Employed (ACE)             o   Goodwill = NCE – ACE           

Super Profits Method Steps:           

o   Average Capital Employed (Avg CE)            o   NRR                o   Normal Profits (NP = Avg CE x NRR)            o   FMP               

o   Super Profits (SP = FMP – NP)             o   Goodwill = SP x No of Years           

Annuity Method Steps:            

o   SP                o   Goodwill = SP x Annuity Factor          

II. Capital Employed:            

Ø  Liabilities Side Approach = Equity Share Capital + Reserves and Surplus – Non-Trading Assets – Misc Expenditure (+/-) Adjustments in values of Assets or Liabilities

Ø  Assets Side Approach = Total Assets (Excld Misc Expenditure and Non Trading Assets) – Outside Liabilities – Preference Share Capital

Notes:              

o   Non Trading assets shall be excluded (Investments mentioned in the balance sheet shall be excluded, if nothing is mentioned assume it as non trading investments. If nothing is given regarding purchase date of investment it is assumed it is purchased at the beginning of the year. 

o   Asset must be taken at current cost. If nothing is mentioned take value given in the balance sheet. 

o   If we already have goodwill in balance sheet that shall be excluded. 

o   Proposed dividend is not an outside liability whereas preference dividend is an outside liability. (Appearing in Balance Sheet)

o   Dividend Paid last year if there is no proposed dividend then the dividend paid shall be taken into consideration for capital employed.

o   Sinking Fund is a part of Reserves and Surplus         

o   Workmen’s Compensation fund is a part of Shareholders fund.       

o   Preference shares are treated as cumulative and non-participating if nothing is mentioned    

o   Unclaimed dividend is considered as outside liability it is different from proposed dividend.   

o   If the profits for past and profits for future are given we have to take profits of future for FMP. And less weightage shall be allotted to future profits.

o   Gratuity fund, workmen’s compensation fund is an outside liability.      

o   Capital Employed for Long term funds = Capital Employed as calculated above + Loans and Preference Share Capital

o   The difference in Balance sheet is outside liability if it appears on liability side and assets if vice versa.

Question-1: ………………….Fund is a part of Reserves and Surplus.

 a. Profit

 b. Loss

 c. Suspense

 d. Sinking

Question 2. ACE stand for Average ????? Employed.

 a. Money

 b. Profit

 c. Expense

 d. Capital

Question 3. Difference in Balance sheet is outside liability if it appears on Asset side and liability if vice versa.

 a. TRUE

 b. FALSE

 c. Sometimes

 d. Never

Question 4. Gratuity fund, workmen?s compensation fund is a outside liability.

 a. TRUE

 b. FALSE

 c. Sometimes

 d. Never

Question 5. NRR stands for ?????? rate of return

 a. Nominal

 b. Negative

 c. Normal

 d. Average

Question 6. Unclaimed ???????.is considered as outside liability it is different from proposed dividend.

 a. Dividend

 b. Liability

 c. Asset

 d. Loss

Question 7. Which is not the outside liability?

 a. Proposed Dividend

 b. Average Return

 c. Interest Income

 d. Principle Amount

Question 8. Which is not the part of Capitilisation Method Process.

 a. FMP

 b. NRR

 c. ACE

 d. All

Question 9. While calculating/Valuating goodwill, asset must be taken at current cost.

 a. TRUE

 b. FALSE

 c. Sometimes

 d. Never

Question 10. Workmen?s Compensation fund is a part of ??????. fund.

 a. Stakeholder

 b. Propreitor

 c. Owners

 d. Shareholders

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4th Module Assessment

Case Study # Lessening Income Tax Burden

If you are reading this, you are likely to be someone whose income exceeds the threshold of Rs 2.5 lakhs for paying taxes. There are some legitimate ways of saving taxes and the good thing is that most of them also help you grow your wealth. These options usually have a lock-in period and vary in the nature and amount of return they provide. You must also remember that each of these alternatives also serves specific purposes and tax saving is not the purpose but an ancillary benefit of that.

With the current financial year’s end approaching, there is precious little room for procrastination.  According to various research reports, less than 3% of the Indian population (~35 million taxpayers) bears the total income tax burden of the country, of which, 89% fall in the tax slab of 0-5 lakh.

You might have cough up high amounts if you fail to plan your taxes judiciously. Note that any delays in implementing your tax plans invariably result in non-accrual of tax benefits.

Public provident fund

The amount invested in public provident fund can be claimed as a deduction from gross total income under Section 80C. The interest on PPF account is also exempted from income tax. Most experts reckon that this is one of the preferred investment options.

National pension scheme

This scheme offers a good tax exemption benefit under Section 80CCD of the act. The contribution made by an employee to the NPS qualifies for this tax benefit and the upper limit of 1.50 Lakh (one lakh up to AY 2014-15) under Section 80C of the act.

Equity savings schemes

If you are invested in the stock market or are interested in doing so, invest in listed equity tax savings schemes (under 80C), for example, Equity Linked Savings Scheme (ELSS).

National savings certificate

National Savings Certificate is a scheme introduced by the government to promote the habit of savings among people. Under this scheme, the money is accepted by the government through post offices. An investor can avail tax deduction under Section 80C for such investments.

Life insurance

Apart from offering risk coverage, life insurance premium for self and family are applicable for tax deductions. Premiums for life insurance plans covering you, spouse, and dependent children are eligible for a deduction up to Rs. 1 lakh under Section 80C of the Income Tax Act.

Health insurance

Not only certain expenses incurred during medical treatment, but health insurance premiums are also eligible for tax deduction. Premiums paid up to Rs. 25,000 for medical coverage for yourself, your spouse, and children are eligible for deduction. Further deduction of Rs. 25,000 is available for medical insurance premiums paid for parents. The limit of Rs. 25,000 gets extended to Rs. 30,000 if the plan is for a senior citizen. Always opt for those tax-saving instruments, which fulfil your financial goals and cut your income tax payments.

Question-1: According to income tax act, how much percentage people fall in the tax slab of 0-5 lakh.

 a. 25,000

 b. 98%

 c. 89%

 d. 2.5 Lakh

Question 2. As per this case, up to which amount, there is no tax.

 a. 2 Lakh

 b. 2.5 Lakh

 c. 3 Lakh

 d. Not Clear

Question 3. Do senior citizens get some extra advantage under 80 C, for health insurance expenses.

 a. Always

 b. Sometimes

 c. Only 80 Years above

 d. Only Ex Govt Employees

Question 4. ELSS investments are made in ???. Market.

 a. Money

 b. Capital

 c. Treasury

 d. All

Question 5. Not only certain expenses incurred during medical treatment, but health insurance premiums are also eligible for tax deduction.

 a. TRUE

 b. FALSE

 c. Sometimes

 d. Never

Question 6. NSCs are sold by ?????.

 a. Banks

 b. Insurance Companies

 c. Post Offices

 d. Government

Question 7. Premiums for life insurance plans covering ??????… are eligible for a deduction.

 a. Insurer

 b. Sopouse

 c. Kids

 d. All

Question 8. The interest on PPF amount is tax free.

 a. TRUE

 b. FALSE

 c. Sometimes

 d. Never

Question 9. Under which section of Income Tax act, individuals can do savings and save tax.

 a. 80 C

 b. 80 D

 c. NPS

 d. ELSS

Question 10. Who is covered under health insurance.

 a. Self

 b. Spouse

 c. Kids

 d. All

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5th Module Assessment

Case Study

The merger between AOL and Time Warner

The merger between AOL and Time Warner was declared on 10 January 2000 and it was worth $183 billion. That was the biggest merger in the history of American business world. AOL had about 40% share of online service in the United States and the Time Warner have more than 18% of US media and cable households. The merger is taken into account to be a vertical merger between one amongst the most important web service suppliers and this one amongst the biggest media and entertainment firm. The new company was formed and named as AOL Time Warner and was the fourth biggest company in the US, as evaluated by stock market valuation. After the merger deal, AOL become a subsidiary the Time Warner Company at stage and has operations in Europe, North American countries and Asia. As a web service supplier, AOL on look severely rival from Microsoft, Yahoo and different low price net access suppliers. Thus, the corporate tries to induce advertising and e-commerce growth, thereby separate it by rival (BBC, 2000).

Impact of deal on the performance: After the official announcement of deal merger between AOL and Time Warner growth rate in revenue has dramatically declined. The profitability suffered a good plunge when the alliance. The potency of the new united firm was terribly poor as determined from the asset turnover ratio. Even the liquidity of the firm suffered once the merger as evident from this ratio. There are several reasons for failure however the foremost vital reason was the unequal size of the companies, wherever AOL was overvalued as a result of web bubble. According to New York share exchange before the deal the share price of AOL is 73 and Time Warne is 90 but after announcement of the merger deal the shareholders dissatisfaction shown on share market of AOL and Time Warner and the shares drop down to 47 and 71 respectively. AOL and Time Warner fail to keep up shareholders satisfaction levels this conjointly one among the rationale to loosing stability of share holders according to the Times magazine.

The market valuation of both the companies AOL and Time Warner were decline from the starting of the merger to end of the deal. AOL has drop down approximately 60 percent and Time Warner around 30 percent of market value once the deal has been closed. The market valuation of both the companies from 2000 to 2011 was dropped down drastically. The AOL market value has dropped from 167$ billion to 107$ billion and the Time Warner 124$ billion to 99$ billion and is the biggest dropped down of any company in American history.

Reasons for merger Failures: 1+1 = 3 sounds great but in practice or reality every time it’s not working properly and go awry. Historical trends show that roughly 2 thirds of huge mergers can let down on their own terms, which implies they’re going to lose worth on the stock exchange. The motivations that mainly drive mergers are frequently blemished and efficiencies from economies of scale might prove elusive (Investopedia, 2010).

Adoption of the new technology takes time for the normal company. In late twentieth century dramatic changes has occur in web. Migration of recent mode of web service is connected with high barricade and a number of other social and legal problems was encircled around and recently established firms like Yahoo, MSN etc was giving high edge competition. Economical rate of inflation is high, to create economy stronger American government has modified the policy and taxation rules have throwing a dispute for AOL to beat this things merger with Time Warner became a fruit to the AOL. Public and private policies are one of the reasons for the merger failure. The reasons of merger failure is overvaluation of AOL shares has shown a dramatic impact on the deal, whereas stake holders are not satisfied and improper communication with consumers damages the trust of user. The merger’s fail was a result not only because of the replete of the dot-com bubble but it also the failings by AOL Time Warner management to ever really integrate the two firms.

Conclusion

One size does not match all. Several firms think that the most effective way to get ahead is to expand business boundaries through mergers and acquisitions (M&A). Mergers produce synergies and economies of scale, increasing operations and cutting prices. Investors will take comfort within the idea that a merger can deliver increased market power. The same thing happens with the America’s biggest merger deal between AOL and Time Warner. They think that merger is helpful for both the companies but it not matched for both of them. Both AOL and Time Warner synergies shows diversification is that the main goal of the firms to extend the revenue and to attain the value gain because of the amendment in mode of technology and increase in the competition for the well established firms. Throughout the phase of merger web bubbles also the main cause for over valuation of shares. In distinction Time Warner was the victim of net bubble. This type merger failure cases shows support the European Commission to restrict the American companies to merge with the European companies. European commission has a right to govern the European market and make stable the Euro Zone market. The European commission (EC) is thought of defending domestic companies from foreign rival and they encourage their zone mergers. So the European commission doesn’t want any problems like dis-economies of scale, clashes of cultures and reduction of flexibilities by the merger of American companies. So the merger is highly regulated by European Union to avoid major concentration of economic power in euro zone. The merger deals cases like AOL and Time Warner helps the European Commission (EC) to make strict rules to restrict the merger and acquisition (M&A) of American companies with the Euro Zone companies.

Question-1: After the deal announced, the sales growth of both the companies noticed ????

 a. Fall

 b. Increase

 c. Stability

 d. Can’t Say

Question 2. After the historical merger announced, the US share market???

 a. Increased

 b. Decreased

 c. No Impact

 d. Welcomed

Question 3. After the said merger, new company had which position in the US market.

 a. First

 b. Second

 c. Third

 d. Fourth

Question 4. AS per the case, most of the mergers in US have been ????.

 a. Successful

 b. Failed

 c. Welcomed

 d. Stable

Question 5. The AOL and Warner merger took place in which year.

 a. Not Given

 b. 2001

 c. 2000

 d. 2010

Question 6. The main reason for failure of a merger is not to get the benefit of ?????

 a. Goodwill

 b. Economies of Scale

 c. Reputation

 d. All

Question 7. The market valuation of both the companies AOL and Time Warner were ????..from the starting of the merger to end of the deal.

 a. Up

 b. Down

 c. Stable

 d. Can’t Say

Question 8. The same thing happens with the America’s biggest merger deal between AOL and Time Warner.

 a. TRUE

 b. FALSE

 c. Not Given

 d. Can’t Say

Question 9. What is normally expected from a merger initiative?

 a. Economies of Scale

 b. Synergy

 c. Cutting Prices

 d. All

Question 10. What kind of merger it is?

 a. Horizontal

 b. Vertical

 c. Conglomerate

 d. None

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Assignment 2

Case Study # Is FDI the new engine of growth?

The official discussion paper (DP), Industrial Policy—2017, (goo.gl/jEPs6u) is a welcome effort. That said, while it sets down a laundry list of known constraints, it ignores serious analyses of poor industrial performance. Pedantically discussing competitiveness, the policy paper makes very little reference to trends in global trade, or inadequate domestic industrial demand, falling capacity utilization or negative credit growth (“Economic Reforms And Manufacturing Sector” by R. Nagaraj, Economic And Political Weekly, 14 January 2017).

There is an exception, however. Flagging the boom in foreign direct investment (FDI) inflows, the paper claims it as a badge of success for the official policy. The report says, “Total FDI inflow was $156.53 billion since April 2014 ($45.15 billion in 2014-15, $55.56 billion in 2015-16, and $60.08 billion in 2016-17). Highest ever annual inflow ($60.08 billion) was received in 2016-17. FDI equity inflows increased by 52% during 2014-16 and 62% since the launch of Make In India. India is now ranked amongst top 3 FDI destinations (World Investment Report 2016, Unctad) and ninth in the FDI Confidence Index in 2016, up two places from 2015 (AT Kearney)”.

Laudable as that may be, what did the FDI inflow do for the economy? Did it augment industrial output and investment growth (meeting Make In India goals) as expected in theory? The official paper claims it has. But has it really?

In principle, FDI—as against foreign portfolio investment which flows into the secondary capital market—brings in long-term fixed investments, technology and managerial expertise, together with foreign firms’ managerial control. FDI in green field investment is for fresh capital formation, and in brown field investment for acquiring existing enterprises with the expectation of improving the firm’s productivity and profits.

In practice, however, this may be different. Currently, FDI does not come from leading global producers of goods and services, but from shadow banking entities such as private equity (PE) funds. In 2014-15, PE accounted for 60% of total foreign inflows, and the top three recipients were Flipkart, Paytm and Snapdeal (Bain & Co.’s “India Private Equity Report 2016”). These funds are used to finance retail trade of mostly imported consumer goods to expand their market shares, in order to boost the firm’s market valuations. Since PE investments are highly leveraged (high debt-equity ratios), rising markets valuations help them reap disproportionate gains when they make their exit.

PE firms do not commit to fresh capital formation or invest in technology, as expected of FDI. India being a bright spot in world economy lately, global retailers such as Amazon are rushing here to build their brand’s value and acquire market share using abundant low-cost international capital. Could such financing of retail trade with short time horizons constitute the (new) engine of India’s industrial growth and employment generation? I wonder.

This is why despite rising FDI inflows, domestic capital formation rate, or industrial capacity utilization, have declined secularly. What is going on, I would contend, is foreign capital financed import-led consumption growth, not augmenting domestic output to meet Make In India goals. Therefore, the current growth pattern would only contribute to economic fragility under free capital flows, as the social costs of servicing the external capital in rupee terms could be significantly high in the longer run.

The official paper also pins hope on outward FDI to strengthen domestic industrial and services capabilities. Since 2000, the outflow has risen remarkably, often seen as the coming of age of domestic enterprises, acquiring factories and firms (and global brands) mostly in advanced economies, best illustrated by Tata’s acquisition of luxury car maker, Jaguar Land Rover. After a brief dip during the financial crisis, the outflows have maintained momentum. But Indian firms are no longer chasing foreign acquisitions; if anything, they are licking the wounds of hasty misadventures over the past decade—for instance, the Videocon group.

So where is the outflow going? Apparently, India is being used as a conduit for routing international capital for tax arbitrage. Olivier Blanchard and Julien Acalin’s research paper (What Does Measured FDI Actually Measure, Peterson Institute for International Economics, October 2016) offers an insightful answer. It shows that inward and outward FDI flows across emerging market economies are highly correlated, responding to the US policy rate. India ranks sixth in descending order among 25 emerging market economies (far higher than China). The study’s sharp conclusions seem instructive: “…‘measured’ FDI gross flows are quite different from true flows and may reflect flows through rather than to the country, with stops due in part to (legal) tax optimization. This must be a warning to both researchers and policy makers.”

Put simply, inward and outward FDI flows apparently represent channelling of global capital via India to take advantage of tax concessions (called “treaty shopping”). Hence such short-term foreign capital movements in and out of the country may contribute little to augment domestic capability. If the findings are correct, then there is a need to re-examine recent FDI’s true contribution.

Subject to closer verification, if the foregoing arguments and evidence are valid, then the recent FDI flows have contributed little by way of augmenting domestic capabilities, output and employment growth. Inward FDI, increasingly from PE funds, has largely financed e-commerce firms, driving import-led consumption boom. Outward FDI, instead of enabling domestic enterprises to access external markets and technology, has instead helped international capital to take advantage of India’s tax treaties to optimize tax burden of global firms. If the proposed industrial policy is serious about realizing the vision of Make In India, it needs to look elsewhere, not at FDI.

Question-1: Amazon is a ??????.. Brand.

 a. Indian

 b. Gujrati

 c. Canadian

 d. USA

Question 2. Despite rising FDI inflows, domestic capital formation rate, or industrial capacity utilization, have declined secularly.

 a. TRUE

 b. FALSE

 c. Can’t Say

 d. Sometimes

Question 3. Fdi from 2014 – 17 has shown ??????.. Trend.

 a. Decreasing

 b. Increasing

 c. Neutral

 d. Disturbed

Question 4. FDI in green field investment is for ?????. capital formation.

 a. Green

 b. Red

 c. Traditional

 d. Fresh

Question 5. FDI stands for foreign ??????.. Investment.

 a. Dear

 b. Direct

 c. Distance

 d. Demote

Question 6. Foreign Portflio Investment flows in ??????. Market.

 a. Bullian

 b. Mutual Funds

 c. Capital

 d. Money

Question 7. Indian firms are chasing foreign acquisitions.

 a. Right

 b. Wrong

 c. Sometimes

 d. Can’t Say

Question 8. Inward FDI, increasingly from PE funds, has largely financed ???… Firms.

 a. Science

 b. Pharma

 c. e-commerce

 d. Manufacturing

Question 9. PE firms do not commit to fresh capital formation.

 a. TRUE

 b. FALSE

 c. Can’t Say

 d. Sometimes

Question 10. which Indian Company didn’t recive decent FDI amount?

 a. Flipkart

 b. Paytm

 c. Snap Deal

 d. Amazon

10 on 10

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