Classical Era in Latin America and Europe Essay - 1569 Words

Although each classical civilization developed its own unique style of politics, culture and economies, the economic and social patterns in Latin America distinctly detached this civilization from any Western society, which accounted for obvious distinctions in both culture and politics. In politics, the most apparent feature of the Western Society was the creation of new political ideologies, resulting in neither an absolute or dictatorial structure. The instability of Latin American politics created a weakened structure, therefore creating limitations to regulate criminals, and landlords. Culturally, the Western Societies role of religion lost popularity, as nationalism and socialism provided competition for the church. But the†¦show more content†¦During this time, Liberalism also became a strong political force throughout Western Society. These liberals believed that governments should be controlled, not by institutions such as the church, but constitutionally based upon parliaments. As a result of the popularity that Liberalism had on Western Societies, a new political framework was created involving parliaments, based on voting rights of citizens. Due to this, the power of Catholic and Protestant churches were dramatically scaled down, and most governments no longer looked to the church for symbolic religious observances. One of the most notable results from the development of the liberal organization was the rise of modern political parties, intended to create an order for members of the parliament, as well as a way to distinguish parties for campaigning processes. Politically, Latin America became infamous in the eyes of other countries for frequent regime collapses and violent tactics, which frequented the Latin American civilization. Just as in the Western Society, two politically active groups, the liberals and conservatives divided the country. The liberals who were strongly influenced by Westerners, trusted parliamentary governments, civil rights and constitutions, and wished for a great reduction in the power of the church. The liberal party believed strongly in the need for an extended education, and tended toShow MoreRelatedAn Architect, Former U.s. President Of The National Architecture Essay1258 Words   |  6 Pagesdefine America’s national identity and culture. Background Most famously recognized as â€Å"the father of the National Architecture† in America, Thomas Jefferson sought to make American ideals and its culture unique from that of Europe, from where they had their origins (â€Å"Architecture is My Delight† n.p). 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Bank Management Chapter 7 Free Essays

string(202) " able to recapture its costs because its productivity has not increased commensurately or because the technology has already become obsolete, it has invested in a negative NPV investment in technology\." Suggested end-of-Chapter Practice Questions: Chapter Seven Chapter 71, 2, 3, 7, 11, 13, 19, 22, 29, 32, 33, problem similar to HW 1. What is the process of asset transformation performed by a financial institution? Why does this process often lead to the creation of interest rate risk? What is interest rate risk? Asset transformation by an FI involves purchasing primary assets and issuing secondary assets as a source of funds. The primary securities purchased by the FI often have maturity and liquidity characteristics that are different from the secondary securities issued by the FI. We will write a custom essay sample on Bank Management Chapter 7 or any similar topic only for you Order Now For example, a bank buys medium- to long-term bonds and makes medium-term loans with funds raised by issuing short-term deposits. Interest rate risk occurs because the prices and reinvestment income characteristics of long-term assets react differently to changes in market interest rates than the prices and interest expense characteristics of short-term deposits. Interest rate risk is the effect on prices (value) and interim cash flows (interest coupon payment) caused by changes in the level of interest rates during the life of the financial asset. . What is refinancing risk? How is refinancing risk part of interest rate risk? If an FI funds long-term fixed-rate assets with short-term liabilities, what will be the impact on earnings of an increase in the rate of interest? A decrease in the rate of interest? Refinancing risk is the uncertainty of the cost of a new source of funds that are being used to finance a long-term fixed-rate asset. This risk occurs when an FI is holding assets with maturities greater than the maturities of its liabilities. For example, if a bank has a ten-year fixed-rate loan funded by a 2-year time deposit, the bank faces a risk of borrowing new deposits, or refinancing, at a higher rate in two years. Thus, interest rate increases would reduce net interest income. The bank would benefit if the rates fall as the cost of renewing the deposits would decrease, while the earning rate on the assets would not change. In this case, net interest income would increase. 3. What is reinvestment risk? How is reinvestment risk part of interest rate risk? If an FI funds short-term assets with long-term liabilities, what will be the impact on earnings of a decrease in the rate of interest? An increase in the rate of interest? Reinvestment risk is the uncertainty of the earning rate on the redeployment of assets that have matured. This risk occurs when an FI holds assets with maturities that are less than the maturities of its liabilities. For example, if a bank has a two-year loan funded by a ten-year fixed-rate time deposit, the bank faces the risk that it might be forced to lend or reinvest the money at lower rates after two years, perhaps even below the deposit rates. Also, if the bank receives periodic cash flows, such as coupon payments from a bond or monthly payments on a loan, these periodic cash flows will also be reinvested at the new lower (or higher) interest rates. Besides the effect on the income statement, this reinvestment risk may cause the realized yields on the assets to differ from the a priori expected yields. 7. How does the policy of matching the maturities of assets and liabilities work (a) to minimize interest rate risk and (b) against the asset-transformation function for FIs? A policy of maturity matching will allow changes in market interest rates to have approximately the same effect on both interest income and interest expense. An increase in rates will tend to increase both income and expense, and a decrease in rates will tend to decrease both income and expense. The changes in income and expense may not be equal because of different cash flow characteristics of the assets and liabilities. The asset-transformation function of an FI involves investing short-term liabilities into long-term assets. Maturity matching clearly works against successful implementation of this process. 11. A money market mutual fund bought $1,000,000 of two-year Treasury notes six months ago. During this time, the value of the securities has increased, but for tax reasons the mutual fund wants to postpone any sale for two more months. What type of risk does the mutual fund face for the next two months? The mutual fund faces the risk of interest rates rising and the value of the securities falling. 13. What is market risk? How do the results of this risk surface in the operating performance of financial institutions? What actions can be taken by FI management to minimize the effects of this risk? Market risk is the risk of price changes that affects any firm that trades assets and liabilities. The risk can surface because of changes in interest rates, exchange rates, or any other prices of financial assets that are traded rather than held on the balance sheet. Market risk can be minimized by using appropriate hedging techniques such as futures, options, and swaps, and by implementing controls that limit the amount of exposure taken by market makers. 14. What is credit risk? Which types of FIs are more susceptible to this type of risk? Why? Credit risk is the possibility that promised cash flows may not occur or may only partially occur. FIs that lend money for long periods of time, whether as loans or by buying bonds, are more susceptible to this risk than those FIs that have short investment horizons. For example, life insurance companies and depository institutions generally must wait a longer time for returns to be realized than money market mutual funds and property-casualty insurance companies. 19. What is the difference between technology risk and operational risk? How does internationalizing the payments system among banks increase operational risk? Technology risk refers to the uncertainty surrounding the implementation of new technology in the operations of an FI. For example, if an FI spends millions on upgrading its computer systems but is not able to recapture its costs because its productivity has not increased commensurately or because the technology has already become obsolete, it has invested in a negative NPV investment in technology. You read "Bank Management Chapter 7" in category "Essay examples" Operational risk refers to the failure of the back-room support operations necessary to maintain the smooth functioning of the operation of FIs, including settlement, clearing, and other transaction-related activities. For example, computerized payment systems such as Fedwire, CHIPS, and SWIFT allow modern financial intermediaries to transfer funds, securities, and messages across the world in seconds of real time. This creates the opportunity to engage in global financial transactions over a short term in an extremely cost-efficient manner. However, the interdependence of such transactions also creates settlement risk. Typically, any given transaction leads to other transactions as funds and securities cross the globe. If there is either a transmittal failure or high-tech fraud affecting any one of the intermediate transactions, this could cause an unraveling of all subsequent transactions. 22. If you expect the French franc to depreciate in the near future, would a U. S. -based FI in Paris prefer to be net long or net short in its asset positions? Discuss. The U. S. FI would prefer to be net short (liabilities greater than assets) in its asset position. The depreciation of the franc relative to the dollar means that the U. S. FI would pay back the net liability position with fewer dollars. In other words, the decrease in the foreign assets in dollar value after conversion will be less than the decrease in the value of the foreign liabilities in dollar value after conversion. 29. What is country or sovereign risk? What remedy does an FI realistically have in the event of a collapsing country or currency? Country risk involves the interference of a foreign government in the transmission of funds transfer to repay a debt by a foreign borrower. A lender FI has very little recourse in this situation unless the FI is able to restructure the debt or demonstrate influence over the future supply of funds to the country in question. This influence likely would involve significant working relationships with the IMF and the World Bank. 32. What is liquidity risk? What routine operating factors allow FIs to deal with this risk in times of normal economic activity? What market reality can create severe financial difficulty for an FI in times of extreme liquidity crises? Liquidity risk is the uncertainty that an FI may need to obtain large amounts of cash to meet the withdrawals of depositors or other liability claimants. In times of normal economic activity, depository FIs meet cash withdrawals by accepting new deposits and borrowing funds in the short-term money markets. However, in times of harsh liquidity crises, the FI may need to sell assets at significant losses in order to generate cash quickly. 33. Why can insolvency risk be classified as a consequence or outcome of any or all of the other types of risks? Insolvency risk is the risk that an FI may not have enough capital to offset a sudden decline in the value of its assets. This risk involves the shortfall of capital in times when the operating performance of the institution generates accounting losses. These losses may be the result of one or more of interest rate, market, credit, liquidity, sovereign, foreign exchange, technological, and off-balance-sheet risks. 34. Discuss the interrelationships among the different sources of FI risk exposure. Why would the construction of an FI’s risk management model to measure and manage only one type of risk be incomplete? Measuring each source of FI risk exposure individually creates the false impression that they are independent of each other. For example, the interest rate risk exposure of an FI could be reduced by requiring customers to take on more interest rate risk exposure through the use of floating rate products. However, this reduction in FI risk may be obtained only at the possible expense of increased credit risk. That is, customers experiencing osses resulting from unanticipated interest rate changes may be forced into insolvency, thereby increasing the FI’s default risk. Similarly, off-balance sheet risk encompasses several risks since off-balance sheet contingent contracts typically have credit risk and interest rate risk as well as currency risk. Moreover, the failure of collection and payment systems may lead corporate customers into bankruptcy. Thus, te chnology risk may influence the credit risk of FIs. As a result of these interdependencies, FIs have focused on developing sophisticated models that attempt to measure all of the risks faced by the FI at any point in time. Practice 1. A bank has the following balance sheet structure: AssetsLiabilities and Equity Cash$10,000Certificate of Deposit$90,000 Bond$90,000Equity $10,000 Total Assets$100,000Total Liabilities and Equity$100,000 The bond is a Eurobond; it has a ten-year maturity and a fixed-rate coupon of 6 percent. The certificate of deposit has a one-year maturity and a 4 percent fixed rate of interest. The FI expects no additional asset growth. a. What will be the net interest income (NII) at the end of the first year? Note: Net interest income equals interest income minus interest expense. b. If at the end of year 1, market interest rates have increased 100 basis points (1 percent), what will be the net interest income for the second year? Is the change in NII caused by reinvestment risk or refinancing risk? c. Assuming that market interest rates increase 1 percent. (i) What will be the market value of the bond? (ii) What will be the market value of equity? (Assume that all of the NII in part (a) is used to cover operating expenses or is distributed as dividends, so that there is no addition to retained earnings. ) a. What will be the net interest income (NII) at the end of the first year? Note: Net interest income equals interest income minus interest expense. Interest income$5,400$90,000 x 0. 06 Interest expense 3,600$90,000 x 0. 04 Net interest income (NII)$1,800 b. If at the end of year 1, market interest rates have increased 100 basis points (1 percent), what will be the net interest income for the second year? Interest income$5,400$90,000 x 0. 06 Interest expense 4,500$90,000 x 0. 05 Net interest income (NII)$900 The decrease in net interest income is caused by the increase in financing cost without a corresponding increase in the earnings rate. The increase in market interest rates does not affect the interest income because the bond has a fixed-rate coupon for ten years. Note: this answer makes no assumption about reinvesting the first year’s interest income at the new higher rate. c. Assuming that market interest rates increase 1 percent. (i) What will be the market value of the bond? (ii) What will be the market value of equity? (Assume that all of the NII in part (a) is used to cover operating expenses or is distributed as dividends, so that there is no addition to retained earnings. Note: market value of equity falls due to lower market value of the bond If the coupon rate is 6%, yield to maturity = 7%, then using our financial calculator, N = 9 (only 9 years left), PMT = 540, I = 7%, FV = 90,000. Compute PV; find PV = -84,136. 29. Hence the market value of the bond fell from $90,000 to $84,136. 29 (a decrease of $5,863. 71). Since the interest rate on the CD has risen (it had only a one year maturity; so it get s a new interest rate when it is re-issued), the market value of the CD is $90,000 (interest rate = coupon rate on the CD). Consequently, it is the market value of equity that will decline. If the bank must sell the bond, it will sell it at the lower market value and realize the loss. The book value of equity has remained at #10,000, but the market value of equity has fallen by the amount of the decrease in the value of the bonds. This was a problem faced by banks in 2008, when the market value of the mortgage debt and mortgage backed securities and CDOs (collateralized debt obligations) fell; some of them had negative equity in market value terms. How to cite Bank Management Chapter 7, Essay examples

Record Management free essay sample

Running head: Records Management Name Instructor Date of submission Executive Summary An effective records management program is an integral part of an organization’s effective business operations. Organizations must consider records management requirements when implementing the system management strategies or whenever they design and augment an electronic information system. Organizations are required by law to â€Å"make and preserve records containing adequate and proper documentation of the organization, functions, policies, decisions, procedures, and essential transactions of the organization. This legal requirement applies to electronic records kept by the organizations as well. Organizations that do not consistently adhere to standard records management practices run the risk of not having records that can be depended upon in the course of subsequent business transactions or activities. This paper focuses on the various methodologies that organizations can implement in order to develop ECM/ERM strategies that are backed with electronic signature systems. It also gives an insight into the various ways through which organizations can implement good IT practices to complement or parallel existing records management practices. In systems implemented in line with ECM/ERM guidelines, developing the most efficient systems will form the core of organizational success. This will be achieved by making electronically signed records the core of organizational IT systems. The organizational IT professionals will come to terms with the fact that signatures are an integral part of the records they keep. If the records need to be preserved, whether for a short duration of time or permanently, then the organization is required to promote integrity of its records by electronically signing them in scheduled series. Additionally, this paper discusses the general principles that govern application of electronic signature technology in organizations. Organizations can accomplish electronic signatures through the use of different technologies such as Personal Identification Number (PIN), smart cards and biometrics. However, some organizations can decide to apply additional technology specific-record management systems. Introduction Records Life Cycle vs. System Development Life Cycle According to Adam (2008), the terms â€Å"records life cycle† and â€Å"system development life cycle† are significant concepts that are often confused in information technology and records management discussions. Records life cycle: The records life cycle refers to the life span of a record from the time it is created or received to its eventual disposition. The process is usually carried out in three main stages: creation, maintenance and use, and eventual disposition (Sampson, 2002). Majorly, this paper focuses on information creation stage since the electronic signature record is created at the initial stage of the records life cycle. The second stage, maintenance and use, is the part in the records life cycle in which the record is maintained at the organizational level while in active use, or is maintained when not in frequent use. The final stage of the records life cycle is disposition, which marks the ultimate fate finish to the record. Most organizational records are categorized as having either a â€Å"temporary† or â€Å"permanent† disposition status (Addey, 2002). Temporary records are held by organizations for stated periods before they are destroyed or deleted. On the other hand, permanent records are initially held by organizations before they are eventually transferred to state and other involved agencies. The eventual disposition of the electronically-signed records is subject to debate between the involved agency and the statutory bodies, in which some organizations may be authorized to dispose some of the records. System development life cycle: The â€Å"system development life cycle† gives a description of the developmental phases that an electronic information system entails. These phases typically include initiation, definition, design, development, deployment, operation, maintenance, enhancement, and retirement. The most important steps in all this are the definition, development, and refinement of the data model, which mostly involves treatment of the records being created or managed (Stephens, 2007). Information systems are developed according to system development methodologies, including those that organizations use to implement the electronic signature as required by the statutory bodies; which govern production and augmentation of existing records. The records life cycle usually exceeds the system development life cycle. When it does the organization involved needs to retain the particular record for a period of time longer than the life of the electronic information system that generated the electronic signature. However, this presents special challenges, such as maintaining the integrity of record in case of system migration. Background Characteristics of Trustworthy Organizational Records Reliability, authenticity, integrity, and usability are the features used to describe trustworthy records from a records management perspective. An organization needs to consider these features when laying implementation plans for ERM programs; such that it can meet its internal business and legal needs, as well as external regulations (Boiko, 2002). The degree of effort that an organization puts into ensuring that these characteristics are attained depends on the organizational business strategies and the structure of the market environment. Transactions that are of great importance to the organization require greater assurance level than those usable with transactions of less criticality to the organization Reliability: A reliable record is one that carries contents that can be trusted as a whole and actual representation of the transactions, activities, or facts to which it refers and can be relied upon in the subsequent transactions Authenticity: An authentic record is one that is proven to be what it purports to be and to have been created or sent by the person who purports to have created and sent it. A record should be created at the point in time of the transaction or incident to which it relates, or soon afterwards, by individuals who have direct knowledge of the facts or by instruments routinely used within the business to conduct the transaction (Wiggins, 2007). To demonstrate the authenticity of records, organizations should implement and document policies and procedures which control the creation, transmission, receipt, and maintenance of records to ensure that records designers are authorized and identified and that records are protected against unauthorized addition, deletion, and alteration. Integrity: The integrity of a record refers to the state of being complete and unchanged. It is essential that a record be protected against changes without signed permission. Records management policies and procedures should specify what, if any, additions or annotations may be made to a record after it is created, under what circumstances additions or annotations may be authorized, and the people authorized to make the changes. Any authorized annotation or addition to a record made after it is complete should be explicitly indicated as annotations or additions. Another aspect of integrity is the structural integrity of organizational records. The structure of a record refers to its physical and logical format; as well as the relationship between the data elements contained in the record. Failure to maintain the structural integrity of organizational records can easily impair reliability and authenticity of the record Usability: These are records that can be located, retrieved, presented, and interpreted. In any subsequent retrieval and use, the record needs to be directly connected to the business activity or transaction which produced it. It should be possible to identify a record within the context of broader business activities and functions. The connection between records which document a sequence of activities should be maintained. These contextual linkages of records should carry the information needed for an understanding of the transaction that created and used them. Preserving Trustworthy Records For a record to remain reliable, authentic, with its integrity maintained, and useable for as long as the record is needed, it is necessary that it’s content, context and sometimes structure is maintained. A trustworthy record preserves the actual content of the record itself and information about the record that draws relation to the context in which it was first designed and used. Specific contextual information will vary depending upon the business, legal, and regulatory requirements of the business activity (e. g. , issuing land use permits on Federal lands). It is also necessary to preserve the structure of the record, as well as the content arrangement. Failure to preserve the content structure of the record will affect its structural integrity. That, in turn, undermines the record’s reliability and authenticity; which is of great essence. There are special considerations when dealing with the preservation of the content, context, and structure of records that are made possible by Electronic Record Management through electronic signatures: †¢ Content: The electronic signature or signatures in a record are part of the content. They give a clear indication on who signed a record and whether that person gave approval for the record content. In organizations, multiple signatures are an indication of initial approval and subsequent approvals. It should be understood that in ERM, signatures should accompanied by dates and other identifiers such as organizational titles. All of these peripherals are part of the content of the record and needs to be kept well. Lack of this information seriously impairs the reliability and authenticity of a record †¢ Context: Some electronic signature technologies are centered on individual identifiers which are not embedded in the record content, trust paths, and other means used to create and verify the validity of an electronic signature. This information is not inclusive of the record content but is nevertheless significant. It provides contextual support to the record since it provides evidence that can be used to support the authenticity and reliability of the record. Lack of these contextual records seriously impairs subsequent attempts to verify validity of the organizational records. †¢ Structure: Preserving the structure of a record means that the physical and logical formats of a record are well drawn. In doing this, organizations must ensure that the physical and logical formats of the record elements remain intact physically and logically. An organization may find it necessary to maintain the record structural form through the use of an electronic signature. In that case, the organization is required to preserve both the hardware and software that created the electronic signature, which can either be encryption algorithms or chips. This ensures that the electronic record can be revalidated at a later time when required Advantages and disadvantages of using ECM/ERM systems in organizations The main advantage of organizations using ECM/ERM approaches in organizations is the fact that it offers the platform to verify the validity of records. There are various approaches that organizations can use to achieve trustworthiness of electronically-signed records within their systems over time. This requires that organizations choose an approach that is applicable, fit for their particular line of business; as well as risk assessment The first approach may involve an organization deciding to maintain adequate documentation of its records’ validity. This involves maintaining of adequate documentation of the records such as, trust verification of records gathered at or near the time of record signing. This record keeping approach enables organizations to retain contextual information through an adequate document processes carried out at the time the record was electronically-signed, along with the electronically-signed record itself. The additional contextual information is then retained for as long as the electronically-signed record is retained. Thus the agency preserves the signature’s validity and meets the adequacy of documentation requirements by retaining the contextual information that documented the validity of the electronic signature at the time the record was signed. Maintaining adequate documentation of validity gathered at or near the time of record signing may be preferable for records that have permanent or long-term retentions since it is less dependent on technology and much more easily maintained as technology evolves over time (Rockley, 2003). However, using this approach, the signature name may not remain readable over time because of bit-wise deterioration in the record or as a result of technological obsolescence. Agencies must ensure that for permanent records the printed name of the signer and the date when the signature was executed be included as part of any human readable form (such as electronic display or printout) of the electronic record. Similarly, an organization may opt to maintain the capacity to re-validate digital signatures. The re-validation approach demands that an organization retains the ability to revalidate the digital signature, together with the electronically-signed record itself. The information necessary for revalidation (i. e. , the public key used to validate the signature, the certificate related to that key, and the certificate revocation list from the certificate authority that corresponds to the time of signing) must be retained for as long as the digitally-signed record is retained. Both contextual and structural information of the record must be retained. This is of benefit to the organization since it can review it records over time effectively (Jenkins, 2005). However, this approach of record keeping is potentially burdensome, particularly for records that are digitally signed records with long retention requirements. Conclusions Record keeping is consistently becoming a priority for many organizations with advancement in technology. The challenging part is keeping up with the drastic options that are being launched within short periods. As discussed in this paper, the most efficient method of managing organizational records is through the adoption of Electronic Content Management or Electronic Record Management systems (Halvorson, 2009). This is mostly achieved by electronically signing records depending on their importance and usage in the organization. In doing this, organizations are able protect the reliability, authenticity, integrity, and usability, as well as the confidentiality, and legitimacy of their records. When implementing electronic signature technology, organizations are expected to accord special consideration to the use of electronic signatures in electronic records that preserve organizational legal rights. This is based on the fact that long-term temporary and permanent electronically signed records have greater longevity than typical software obsolescence cycles, it is certain that organizations will be required to migrate those records to updated versions of software to maintain access to the records (Hackos, 2002). The software migration (as opposed to media migration) process may invalidate the digital signature embedded in the record. This may adversely affect an agency’s ability to recognize or enforce the legal rights documented in those records. References Adam, A. (2008). Implementing electronic document and record management systems. Boca Raton: Auerbach Publications. Addey, D. (2002). Content management systems. Birmingham: Glasshaus, cop. Boiko, B. (2005) Content Management Bible. Hoboken: John Wiley Sons. Hackos, T. (2002). Content management for dynamic web delivery. New York: John Wiley Sons. Halvorson, K. (2009). Content strategy for the web. Indianapolis: New Riders. Jenkins, T. (2005). Enterprise content management: what you need to know; [turning content into competitive advantage]. Waterloo: Open Text Corp. Rockley, A. (2003). Managing enterprise content: a unified content strategy. Indianapolis: New Riders. Sampson, K. (2002). Value-added records management: protecting corporate assets, reducing business risks. West port: Quorum Books. Stephens, D. (2007). Records management: making the transition from paper to electronic. Alexa: ARMA. Wiggins, B. (2000). Effective document management: unlocking corporate knowledge. Aldershot: Gower.

Nestle Group free essay sample

On Nestle International Ltd MGT: 141 Principal of management Prepared For: Afrins farid Assistant Professor Faculty, Business Administration Prepaid By: Km Iftakharul huq| 12310527| Nusrat jahan| 12310305| Estiaq hasan| 12310312| Israt sharmin| 12310217| Farzana sultana| 12310219| Rakib hasan| 12310532| University of Information Technology amp; Science (UITS) Contents December, 12, 2012 To, Afrins farid Assistant Professor Faculty, Business Administration University Of Information Technology amp; Science Subject: Submission of a report. Dear Madam, With due regards and respect we state that we are very thankful to you as you assigned us this report on ‘’Management in Nestle International Ltd’’. it is a great opportunity for us to acquire the theoretical amp; practical knowledge about five functions of management in Nestle International Ltd which is a reputed multinational organization . we have tried our best to gather what we believe to be The most complete information available. Sincerely THE MANAGER 2. History Nestle the worlds largest food group, not only in terms of its sales but also in terms of its product range and its geographical presence: Nestle covers nearly every field of nutrition: infant formula, milk products, chocolate and confectionery, instant coffee, ice-cream, culinary products, frozen ready-made meals, mineral water etc. We will write a custom essay sample on Nestle Group or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page We are also a major producer of pet food. In most of these product groups and in most markets, Nestle is the leader or at least a strong number two. We are a very focused Company, with more than 94 percent of the sales coming from the food and beverage sector. Nestle is present around the globe, on all continents, with around 230,000 people working in more in an 84 countries with 466 factories and with sales representatives in at least another 70 countries. Many of our brand names are familiar to you: Nescafe, Nido, Maggi, Polo, Smartest, Milo, Perrier, Friskies, KitKat, Crunch†¦. Some of our products have broken records: 3,000 cups of Nescafe are consumed every second. and KitKat merited an entry in the Guinness Book of World Records as the worlds best-selling chocolate bar with 418 KitKat fingers eaten every second around the world! Nestle management provided their employees functionally with good environment, they also influences their employees various facilities like Healthy Salaries, increments. We are acquired more experience to research and analysis this report, that help us future job performance. We create this by Microsoft office 2007. Finally, we thanked those people who are help through valuable information of as. Also thanks our honorable Teacher Afrins farid for her guideline 2. 1Background of the Report: Management is a phenomenon. It is a very popular and widely used term. All organization are involved in management because it helps and directs the various efforts towards a definite purpose. We are student of BBA program, our principal of management Afrins Farid Assigned as to prepare a report on ’Management in Nestle International Ltd’’. We have made a survey for required information in Nestle official site in net. We have selected our topics as ’Management in Nestle International Ltd’’. We have prepared our report on December 07, 2012 which will be submitted by December 12, 2012. . 1. 2Objective: The report aims to provide information on suggest more valuable information a report on ‘Management on Nestle International Ltd’. The objective of Nestle is to gain more market share and become the global market leader in the Food and Nutrition industry. The company has to experience a hardship in order to sustain that position especially to stay ahead of Cadbur y. It is because that Cadbury is being acquired by Kraft food which is the world leader in the chocolate business. Nestles business objective, and that of management and employees at all levels, is to manufacture and market the Company’s products in such a way as to create value that can be sustained over the long term for shareholders, employees, consumers, business partners and the large number of national economies in which Nestle operates; 1. 2 Management. Objectives: The report aims to provide 3Primary employee motivated effected by the Nestle International Ltd though information on suggest more valuable information to how the 1. 2. 1Scope of the study: There is a certain boundary to cover this report. Our particular report only covers on how the ‘Management on Nestle International Ltd’. we mainly focus five function of business amp; managerial skills. 1. 2. 2. Limitation of the study: We are lucky enough to get change to prepare a report on ‘Management on Nestle International Ltd’. We tried heart amp; soul to purpose a well-informed a report. But unfortunates we faced some difficulties’ when preparing this report. We tried to overcome the difficulties. In spite of trying our level best some difficulties that hamper our schedule report work. The employee of regional office of Bangladesh was too busy of their work. For this, they did not sufficient time to fulfill our queries and some of them neglected us to support. 1. 2. 3. Difficulty in collecting data: Many employers of the organization were not well known about all information that we asked them. Many of them also hesitated to answer the questions. These things humped the information collection. 1. INTRODUCTION Nestle with headquarters in Vevey, Switzerland was founded in 1866 by Henri Nestle and is today the worlds leading nutrition, health and wellness  Company. Sales for 2007 were CHF 107. 6 ban, with a net profit of CHF  10. 6 bn. We employ around 276  050 people and have factories or operations in almost every country in the world. The Companys strategy is guided by several fundamental principles. Nestles existing products grow through innovation and renovation while maintaining a balance in geographic activities and product lines. Long-term potential is never sacrificed for short-term performance. The Companys priority is to bring the best and most relevant products to people, wherever they are, whatever their needs, throughout their lives. The Nestle Addresses navigation at the top of this page will give you access to Nestle offices and websites around the world. We demonstrate through our way of doing business in all the countries where we are present a deep understanding of the local nature of nutrition, health and wellness; we know that there is no one single product for everyone our products are tailored to suit tastes and habits wherever you are. 1. 1Nestle at a glance: Nestle S. A. Industry Food processing Founded Anglo-Swiss Condensed Milk Company (1866) Ferine Lactee Henri Nestle (1867) Nestle and Anglo-Swiss Condensed Milk Company (1905) Founder(s) Henri Nestle, Charles Page, George Page * Henri Nestle endowed his company with the symbol derived from his name. His family coat of arms, the nest with a mother bird * protecting her young, became the Companys logo and a symbol of the Companys care * and attitude to life-long nutrition. The Nestle nest represents the nourishment, security and sense of family that are so essential to life. * Headquarters Vevey, Switzerland * Area served Worldwide * Key people Peter Brabeck-Letmathe (Chairman) Paul Bulcke (CEO) * Products Baby food, coffee, dairy products, breakfast cereals, confectionery, bottled water, ice cream, pet foods) * Revenue CHF 83. 64  billion (2011) * Operating income CHF 12. 53  billion (2011) * Profit CHF 9. 487  billion (2011) * Total assets CHF 114. 09  billion (2011) * Total equity CHF 58. 27  billion (2011) * Employees 328,000 (2012) * Website www. nestle. com 1. 1. 2 KEY DATES 1866|   | Foundation of Anglo-Swiss Condensed Milk Co. | 1867|   | Henry Nestles Infant cereal developed| 1905|   | Nestle and Anglo Swiss Condensed Milk Co. new name after merger)| 1929|   | Merger with Peter, Cailler, Kohler Chocolats Suisses S. A. | 1934|   | Launch of Milo| 1938|   | Launch of Nescafe| 1947|   | Nestle Alimentana S. A. (New name after merger with Maggi)| 1948|   | Launch of Nestea and Nesquik| 1969|   | Vittel (initially equity interest only)| 1971|   | Merger with Ursina-Franck| 1973|   | Stouffer (with Lean Cuisine)| 1974|   | LOreal (associate)| 1977|   | Nestle S. A. (new company name)| |   | Alcon (2002: partial IPO)| | | | 1981|   | Galderma (joint venture with L’Oreal)| 1985|   | Carnation (with Coffee Mate and Friskies)| 986|   | Creation of Nestle Nespresso S. A. | 1988|   | Buitoni-Perugina, Rowntree (with Kit Kat)| 1990|   | Cereal Partners Worldwide (joint venture with General Mills)| 1991|   | Beverage Partners Worldwide (joint venture with Coca-Cola)| 1992|   | Perrier (with Poland Spring)| 1993|   | Creation of Nestle Sources Internationals (2002: Nestle Waters)| 1997|   | Creation of Nutrition Strategic Business Division (2006: Nestle Nutrition)| 1998|   | San Pellegrino and Spillers Pet foods| |   | Launch of Nestle Pure Life | 2000|   | Power Bar| 2001|   | Ralston Purina| 2002|   | Scholler and Chef America|   | Dairy Partners Americas (joint venture with Fonterra)|   |   | Laboratories inneov (joint venture with L’Oreal)| 2003|   | Move pick and Dreyers| 2005|   | Wagner, Proteika and Musashi| 2006|   | Acquisition of Uncle Toby’s and Jenny Craig. Creation of Foodservices Strategic Business Division|   |   | Lactalis Nestle Produits Frais (associate)| |   | Jenny Craig, Uncle Toby’s and Delta Ice Cream| 2007|   | Acquisition of Novartis Medical Nutrition, Gerber and Henniez. |   |   | Re-launch of Foodservices as Nestle Professional. |   |   | Partnership with luxury chocolate maker Pierre Marcolini. 1. 1. 3 Vision Beyond sound nutrition, the future of foods will increasingly be driven by science. Nestle scientists are looking ahead to the foods of the future. Nestle  Ramp;D  is translating nutrition and food science in two ways: * From consumer needs into research priorities * From emerging science into consumer benefits, and services. The vision of Nestle  Ramp;D  is long term. 1. 1. 4 Mission At Nestle, we believe that research can help us to make better food, so t hat people live better life. Good food is the primary source of good health, so we are trying to make good food. To provide fresh and pure products to the customers, we introduced (SHE) Safety, Health and environment policy to protect health of our employs and keep clean our surrounding environment. 3. Senior Management: The executive board, a distinct entity from the board of directors, includes: * Peter Brabeck-Letmathe, Chairman of the Board of Directors, Nestle S. A. * Paul Buckle, Chief Executive Officer, Nestle S. A. * Werner Bauer, Executive Vice President, Nestle S. A. , Chief Technology Officer, Head of Innovation, Technology, Research amp; Development * Friz van Dijk, Executive Vice President, Nestle S. A. Asia, Oceania, Africa, Middle East * Chris Johnson, Executive Vice President, Nestle S. A. United States of America, Canada, Latin America, Caribbean * Jose Lopez, Executive Vice President, Nestle S. A. Operations, GLOBE * John J. Harris, Executive Vice President, Nestle S. A. Chairman amp; CEO of Nestle Waters * Nandu Nandkishore, Executive Vice President, Nestle S. A. CEO of Nestle Nutrition * James Singh, Executive Vice President, Nestle S. A. Finance and Control, Legal, IP, Tax, Global Nestle Business Services * Laurent Freixe, Executive Vice President, Nestle S. A. Europe * Petraea Heynike, Executive Vice President, Nestle S. A. Strategic Business Units, Marketing, Sales and Nespresso * Marc Caira, Deputy Executive Vice President, Nestle S. A. Head of Nestle Professional Strategic Business Division * Jean-Marc Duvoisin, Deputy Executive Vice President Nestle S. A. Head of Human Resources and Centre Administration * David P. Frick, Senior Vice President and ex officio Member of the Executive Board Brazil headquarters in Brooklin Novo, Sao Paulo According to a 2006 global survey of online consumers by the Reputation Institute, Nestle has a reputation score of 70. 4 on a scale of 1–100. . 1. Management of Nestle Management of Nestle believes in an open door policy and highly discourages bureaucracy in the operational process. The Organization offers an international and multicultural working climate which is conducive to creativity, innovation and the development of personality, and which gives new employees responsibility at an early stage of their career, and opportunities of fast development of high performers. Nestle is a human company where people are the most important asset and where they can develop their personality and skills to their own and their families satisfaction. Nestle offers a competitive compensation package and social benefits in line with Nestles commitment to high standards. In addition, the organization offers progressive development through on-going training throughout your career. Training possibilities are available to all staff. Nestle recently introduced e-learning in Bangladesh, a web-based programmed for self development. When joining Nestle, your training is not over it is only just the beginning Management is defined as the process of setting and achieving goals through the execution of 5 basic management functions that utilize human, financial and material resources. Efficiently means using resources optimally / best possible use * Effectively means getting the things done/making right decision and implementation 4. PLANNING Planning of Nestle: Planning: Deciding what needs to happen in the future (today, next week, next month, next year, over the next five years, etc. ) and generating plans for action. * Decision Making and the Planning Process Strategic goals Strategic plans Tactical goals Operational goals Operational plans The organization’s mission The Environmental Context †¢ Purpose †¢ Premises †¢ Values †¢ Directions Tactical plans Kinds of organization plan * Strategic Plans * A general plan outlining resource allocation, priorities, and action steps to achieve strategic goals. The plans are set by and for top management. * Tactical Plans * A plan aimed at achieving the tactical goals set by and for middle management. * Operational Plans * Plans that have a short-term focus. These plans are set by and for lower-level managers. 4. 1. 1 Time frame for planning * The Time Dimension of Planning * Is based on the principle of commitment. Planning must provide sufficient time to fulfill the managerial commitments involved. Long-range Plans * Cover present and future strategic issues; normally extend beyond five years in the future. * Intermediate Plans * Usually cover from 1 to 5 years and parallel tactical plans. * Are the principal focuses of organizational planning efforts. * Short-range Plans * Have a time frame of one year or less. * include action plans and reaction (contingency) plan 4. 1. 2Planning Staff * P lanning staff personnel gather information, coordinate planning activities, and take a broader view than individual managers. * Planning Task Force * Created when the organization wants special circumstance addressed. * Board of Directors * Establishes corporate mission and strategy. May engage in strategic planning * Chief Executive Officer * Usually serves as president or chair of the board of directors. Has a major role in the planning process and implements the strategy 4. 1. 3. B arrier to goal setting and planning: 4. 1. 4Policies and strategies in the planning process * They give mid and lower-level managers a good idea of the future plans for each department in an organization. * A framework is created whereby plans and decisions are made. Mid and lower-level management may add their own plans to the businesss strategies.. Organizing: (Implementation)pattern of relationships among workers, making optimum use of the resources required to enable the successful carrying out of plans. Nestle has a Board of Directors, led by our Chairman Peter Brabeck-Letmathe, who was the former Nestle CEO. There are 14 members of the Board of Directors. Full details of each member and the committees that they operate within can be found in our Board of Directors section. The day to day management of the Nestle business is taken care of by our Executive Board members. The 13 designated Board Members manage diverse parts of the global business and a full curriculum vital of each member can be found in the Executive Board section. In addition to how our managers carry out their work as leaders, Nestle pragmatically implements The following organizational principles: †¢ Being as decentralized as possible to optimally respond to the needs of consumers, within the framework defined by our fundamental policies, strategic directions and operational efficiencies †¢ Ensuring collaboration of all Nestle businesses and compliance with Nestle principles, policies And standards (Nestle in the Market approach) Building and maintaining a structure which assures operational speed, with a strong focus on results and removing unnecessary obstacles. †¢ Establishing flat and flexible organizations with minimal levels of management and broad spans of control, which also enable people development. †¢ Setting a shared vision and common goals to lever age the strength of people and organizational alignment. †¢ Defining clear levels of responsibility. Teamwork does not affect the manager’s duty towards his/her people and business results . A team must always have a leader who assumes full responsibility 4. 2. 1. A Mutual commitment: Living up to the Nestle Management and Leadership Principles is a commitment and a responsibility for everyone in our Company. To be effective, engaging and inspiring, all Nestle people must â€Å"walk the talk† and lead by example in their daily work; in this context, actions speak louder than words. Therefore, at Nestle, in addition to professional skills – and regardless of origin, nationality, religion, race, gender, sexual orientation and age – the capacity and willingness to live up to these principles are the key criteria’s for progressing within the organization 5. Staffing: Job analysis, recruitment and hiring for appropriate jobs. Staffing involves: -Manpower planning -Recruitment selection amp; placement -training amp; development 5. 1. Training: Process of altering employee behavior amp; attitudes in a way that increases the probability of goal attainment * The most common topics covered in cultural training include: Social| history | Politics| Business| customs| Economics| | | | | Training and development is the field which is concerned with organizational activity aimed at bettering the performance of individuals and groups in organizational  settings. It has been known by several names, including  employee development,  human resource development, and  learning and development. Major types of cross-cultural training programs Environmental Briefings Cultural Orientation Language Training Cultural Assimilators Sensitivity Training Field Experience Orientation amp; Training Programs at Nestle Formal Orientation Local Training International Training Literacy Training Nestle Apprenticeship Program International Training Nestle’s success in growing local companies in each country has been highly influenced by the functioning of its international Training Centre, Switzerland. International Training: Classes are carefully composed to include people with a range of geographic and functional backgrounds. Typically a class contains 15–20 nationalities. The Centre delivers some 70 courses. Attended by about 1700 managers each year from over 80 countries. Only 25% of the teaching is done by outside professionals, as the primary faculty is the Nestle senior management. Its providing services for over 30 years. Managers from around the world to learn from senior Nestle managers and from each other. Country managers decide who attends which course. The programs can be broadly divided into two groups: 1. Management courses 2. Executive courses Training and trainer around the world: Local 1. DMBP: Distribution Management Best Practice. Trainer: Anirban Basu, Nestle India. 2. FMBP: Field Management Best Practice. Trainer: Ziaul Hafiz, Nestle Bangladesh. 3. DMBP plus: Distribution Management Best Practice. Trainer: Anirban Basu, Nestle India. Managing Partner: Good to Better. Trainer: Anirban Basu, Nestle India. International 1. SDS: SAR (South Asian Region) Distributor Solution (Distribution Management System), Chennai, India, 2009. 5. 2Findings amp; Recommendation Nestle said that from the factory floor to the top management, training at Nestle is continuous. And because it is mainly given by Nestle people, it is always relevant to your professional life. Approach is unique in many ways: * It reflects the companys decentralized nature. Whichever country you are working in, you will be given the knowledge and tools you need to respond to local needs * It encourages you to broaden your horizons, by working with people from many different countries and cultures in the course of your career For international assignment Preliminary Visits Preliminary trip of host country Accept or reject the assignment based on experience Language Training Host country language skills and adjustment: improves expatriate’s effectiveness and negotiating ability, info of host country, social support * Role of English language Knowledge of corporate language: a common company language –English Practical Assistance Adaptation to new environment, assist in relocation 6. Leading/directing: Determining what needs to be done in a situation and getting people to do it. Nestle managers at all levels are more with leading and inspiring people to add value to the Company and society rather than with exercising formal authority. This ca lls for a high personal commitment of each employee and a common mindset geared towards results. In an increasingly dynamic world, leaders face Significant challenges and opportunities. These stem from shifts to new social patterns and unprecedented worldwide competition. Achieving ongoing success requires that each Nestle leader understands the context and capitalizes on it, as described in the following principles: Lead to win †¢ Has built credibility as a result of coherent action, leadership and achievement. †¢ Is able to think from different perspectives and to create a climate of innovation. This implies openness to risk and the possibility of making mistakes, but also the willingness to correct and learn from them. †¢ Believes in the importance of alignment and management of expectations. Has broad interests, a good general Education, responsible behavior as well as a balanced lifestyle. Manage for results †¢ Embraces personal commitment and courage in execution. This includes the capacity and the willingness to take initiatives and risks while maintaining composure under pressure. †¢ Values proactive cooperation in order to create sy nergies at local, regional and global levels. †¢ Embraces change and is able to implement it and manage its consequences. †¢ Believes in achieving business objectives rooted in compliance and sustainable practices. Grow talent and teams Has a passion for building and sustaining an environment where people have a sense of personal commitment to their work and give their best to promote our Company’s success. †¢ Cares for and develops the leaders of tomorrow through addressing all areas that Allow them to progress in their work and to expand their capabilities. †¢ Understands the importance of continuous learning and improvement, as well as sharing knowledge and ideas freely with others. †¢ Is committed to giving and receiving honest, accurate and timely feedback, including performance evaluation, in a climate of mutual respect . Believes in the importance of building diverse teams, and promotes the advantages of gender balance. Compete and connect exte rnally †¢ Constantly looks for ways to satisfy our consumers and customers while attracting new ones in unique and compelling ways. †¢ Displays curiosity and open-mindedness as well as a high level of interest in other cultures and lifestyles. †¢ Believes in openness and dialogue with outside stakeholders about future trends in society, technology, consumer habits, and business opportunities. Understands the external impact of our operations and, as a result, proactively seeks to engage and partner with the community, authorities, shareholders and other stakeholders. Strategic leadership To force the businesses to become more efficent To crete a regional manufacturing network To integrate the company ‘s business on a global scale 7. Controlling/monitoring: * Types of Controls 1. Areas of Control 1. Physical resources—inventory management, quality control, and equipment control. 2. Human resources—selection and placement, training and development, p erformance appraisal, and compensation. . Information resources—sales and marketing forecasts, environmental analysis, public relations, production scheduling, and economic forecasting. 4. Financial resources—managing capital funds and cash flow, collection and payment of debts. Strategic control Structural control Operations control Financial control * The Purpose of Control 2. Control is one of the four basic management functions. The control function, in turn, has four basic purposes. Adapt to environmental change Limit the accumulation of error Control helps the organization Cope with organizational complexity Minimize costs Steps of controlling process: Establish standards Measure performance Compare performance against standards Maintain the status quo Correct the deviation Change standards Determine need for corrective action 2 1 4 3 Checking progress against plans. 1. The regulation of organizational activities so that some targeted element of performance remains within acceptable limits. 2. Provides organizations with indications of how well they are performing in relation to their goals. 3. Control provides a mechanism for adjusting performance to keep organizations moving in the right direction. Basic roles Category Role Example Interpersonal Figure head Leader Liaison Representing the org. Motivating employees Coordinating activities Informational Monitor Disseminator Spokesperson Scanning industry reports Sending memos Making speech Decisional Entrepreneur Disturbance handler Resource allocator Negotiator Developing new ideas Resolving conflict Examining budgets Pursuing agreements * Interpersonal: roles that involve coordination and interaction with employees. * Informational: roles that involve handling, sharing, and analyzing information. * Decisional: roles that require decision-making. 8. Management skills: * Political: used to build a power base and establish connections. * Conceptual: used to analyze complex situations. A conceptual skill is the ability to imagine the integration and coordination of the parts of an organization – all its processes and systems. A manager needs conceptual skills to see how factors are interrelated, to understand the impact of any action on the other aspects of the organization and to plan long range. * Interpersonal: used to communicate, motivate, mentor and delegate. * Diagnostic: ability to visualize most appropriate response to a situation. Technical: Expertise in ones particular functional area. Technical skills are the knowledge of and ability to use the processes, practices, techniques or tools of a specialty responsibility area. E. g. accountants, engineers, salespersons, etc. Implementation of policies and strategies * All policies and strategies must be discussed with all managerial personnel and staff. * Managers must understand where and how they can implement their policies and strategies. * A plan of action must be devised for each department. * Policies and strategies must be reviewed regularly. Contingency plans must be devised in case the environment changes. * Assessments of progress ought to be carried out regularly by top-level managers. * A good environment and team spirit is required within the business. * The missions, objectives, strengths and weaknesses of each department must be analyzed to determine their roles in achieving the businesss mission. * The forecasting method develops a reliable picture of the businesss future environment. * A planning unit must be created to ensure that all plans are consistent and that policies and strategies are aimed at achieving the same mission and objectives. . Levels of management Most organizations have three management levels: first-level, middle-level, and top-level managers. [These managers are classified in a hierarchy of authority, and p erform different tasks. In many organizations, the number of managers in every level resembles a pyramid. Each level is explained below in specifications of their different responsibilities and likely job titles. 9. 1. Top-level managers Consists of board of directors, president, vice-president, CEOs, etc. They are responsible for controlling and overseeing the entire organization. They develop goals, strategic plans, company policies, and make decisions on the direction of the business. In addition, top-level managers play a significant role in the mobilization of outside resources and are accountable to the shareholders and general public. According to Lawrence S. Kleiman, the following skills are needed at the top managerial level * Broadened understanding of how: competition, world economies, politics, and social trends effect organizational effectiveness. The role of the top management can be summarized as follows * Top management lays down the objectives and broad policies of the enterprise. It issues necessary instructions for preparation of department budgets, procedures, schedules etc. * It prepares strategic plans amp; policies for the enterprise. * It appoints the executive for middle level i. e. departmental managers. * It controls amp; coordinates the activities of all the departments. * It is also responsible for maintaining a contact with the ou tside world. * It provides guidance and direction. * The top management is also responsible towards the shareholders for the performance of the enterprise. 9. 1. 1Middle-level managers Consist of general managers, branch managers and department managers. They are accountable to the top management for their departments function. They devote more time to organizational and directional functions. Their roles can be emphasized as executing organizational plans in conformance with the companys policies and the objectives of the top management, they define and discuss information and policies from top management to lower management, and most importantly they inspire and provide guidance to lower level managers towards better performance. Some of their functions are as follows: * Designing and implementing effective group and intergroup work and information systems. Defining and monitoring group-level performance indicators. * Diagnosing and resolving problems within and among work groups. * Designing and implementing reward systems supporting cooperative behavior. 9. 1. 2. First-level managers Consist of supervisors, section leads, foremen, etc. They focus on controlling and directing. They usually have the responsibility of assigning empl oyees tasks, guiding and supervising employees on day-to-day activities, ensuring quality and quantity production, making recommendations, suggestions, and up channeling employee problems, etc. First-level managers are role models for employees that provide: * Basic supervision. * Motivation. * Career planning. * Performance feedback. Factors that influence a manager to fit in one of the style: * The task that is being undertaken * The traditions of the organization * The type of Labor Force * The size of the group * The personality of the Leader * Personalities * Time 10. The Nestle factories are operating in the region of: 1. Africa 2. America 3. Asia 4. Europe 5. Oceania Being a company dedicated to food from the beginning, Nestle remains ensitive to culinary and eating habits, and responds to specific nutritional problems, whilst also setting and matching new trends such as growing out-of-home consumption and caring about the wellbeing of its consumers. * Zone Asia, Oceania and Africa gt; 6. 6% organic growth, strong performance in most emerging markets gt; Japan continued to suffer deflation but achieved positive RIG, With good performances in Soluble coffee and Chocol ate gt; China slow due to product exchange in Dairy, but on improving trend gt; South Asia, Africa and Middle East amongst the highlights 0. 1Nestle Focus in Bangladesh Nestle is the worlds leading Nutrition, Health and Wellness Company. In Bangladesh we have Maggi noodles and soups, breakfast cereal, Nescafe, coffee mate, baby food, milk and a seasoning. However, worldwide we have more than 10000 products in different variants. As of today, we employ over 276,000 people across more than 500 state-of-the-art facilities around the world. But it was never our ambition to be the biggest at what we do it was our ambition to be the best. That sums up what we mean by Nestle Focus. It means we also appreciate that size and success are nothing without the finer details such as genuine care for our consumers, a commitment to our people and a wider sense of responsibility towards our customers, suppliers and our communities. When you work for us, youll see the difference that makes at every stage. It will mean becoming part of an organization which can offer you subsidiary of Nestle S. A. whatever you want from your career. Nestle Bangladesh Limited started its first commercial production in Bangladesh in 1994. In 1998. Nestle S. A. ook over the remaining 40% share from our local partner when Nestle Bangladesh became a fully owned Nestle Bangladeshs vision is to be recognized as the most successful food and drink Company in Bangladesh, generating sustainable, profitable growth and continuously improving results to the benefit of shareholders and employees. Our factory is situated at Sripur, 55 km north of Dhaka, the factory produces instant noodles, cereals and r epacks milks, soups, beverages and infant nutrition products. Today Nestle Bangladesh Ltd. is a strongly positioned organization. The Company will continue to grow through our policy of constant innovation and renovation, concentrating on our core competencies and our commitment to high quality, with the aim of providing the best quality food to the people of Bangladesh. In Bangladesh, Nestle started its operation in 1994 and its factory is situated in Sreepur, Gazipur. Nestle Bangladesh directly employs more than 650 people and more than 1000 people are employed by suppliers and distributors in connection to Nestle. Our products in Bangladesh are Nido, Nescafe, Maggi noodles and soup, breakfast Cereals, Coffee-Mate, Nestea, Nesfruta ,Nesfrappe and many more. Nestle is present around the globe, on all continents, with around 230,000 people working in more in an 84 countries with 466 factories and with sales representatives in at least another 70 countries. Nestle is the worlds largest food group, not only in terms of its sales but also in terms of its product range and its geographical presence. Nestle covers nearly every field of nutrition: infant formula, milk products, chocolate and confectionery, instant coffee, ice-cream, culinary products, frozen ready-made meals, mineral water etc. Nestle is a focused company, with more than 94 percent of the sales coming from the food and beverage sector. Did you know 3,000 cups of Nescafe are consumed every second? KitKat merited an entry in the Guinness Book of World Records as the worlds best-selling chocolate bar with 418 KitKat fingers eaten every second around the world! 10. 2 Selected awards, certifications and rankings * In May 2006, Nestle’s executive board decided to adapt the existing Nestle management systems to full conformity with the international standards ISO 14001 (Environmental Management Systems) and OHSAS 18001 (Occupational Health and Safety Management Systems), and to certify all Nestle factories against these standards by 2010. In the meanwhile a lot of the Nestle factories have obtained these certifications. For instance, Nestle’s three factories in Japan (Himeji factory: Hyogo Prefecture, Shimada factory: Shizuoka Prefecture and Kasumigaura factory: Ibaraki Prefecture) have each obtained ISO standard certifications: ISO14001, ISO 22000 (Food Safety Management Systems) and OHSAS 18001 as of the end of December, 2008. * In 2009, Nestle Waters earned a sixth LEED certification. The certification was given by the U. S. Green Building Councils Leadership in Energy and Environmental Design which the company become its first recipient. It highlights the environmentally conscious elements of the facility which enables them to receive the certification. * Nestle Purina received in 2010 the Malcolm Balding National Quality Award for their excellence in the areas of leadership, customer and market focus, strategic planning, process management, measurement, analysis and knowledge management, workforce focus and results * In September 2011, Nestle occupied 19th position in the Universal’s global ranking of Best Employers Worldwide. According to a survey by Universal Communications Nestle was in 2011 the best employer to work for in Switzerland. Based on independent research by the Corporate Research Foundation Institute, Nestle (South Africa) has been certified in 2011 as a Best Employer in South Africa. * Nestle USA has been recognized by Business Week magazine as one of the Best Places to Launch a Career. Business Week ranked Nestle USA #25 on their annual list of the best companies for new college graduates to launch their careers. * For the twelfth consecutive year, Fortune Magazine included in 2011 Nestle in their list of The 10 Most Admired Companies in the World. Nestle won in 2011 the Stockholm Industry Water Award for its leadership and performance to improve water management in its internal operations and throughout its supply chain. * The International Union of Food Science and Technology (IUFoST) honored Nestle in 2010 with the Global Food Industry Award. * In May 2011, Nestle won the 27th World Environment Center (WEC) Gold Medal award for its commitment to environmental sustainability. * In 2011, Nestle Malaysia won an award of the Association of Chartered Certified Accountants for their Sustainability Reporting. On 19 April 2012, The Great Place to Work ® Institute Canada mentioned Nestle Canada Inc. as one of the 50 Best Large and Multinational Workplaces in Canada (with more than 1,000 employees working in Canada and/or worldwide). * In April 2012, Nestle obtained an A+ r ating from the Global Reporting Initiative (GRI) for their global annual report on Creating Shared Value. To reach A+ the company provided new data in their annual report on a number of criteria such as human rights, diversity and gender, climate change, biodiversity and corruption. Nestle was the first food and Beverage Company to achieve an A+ rating from the GRI for a global sustainability report. * On 21 May 2012, Gartner published their annual Supply Chain Top 25, a list with global supply chain leaders. Nestle ranks 18th in the list. Address: Nestle Bangladesh Ltd. Address: Gulshan Tower, Plot # 31, Road # 53, Gulshan North C/A City:Dhaka Location:Gulshan Phone:+880-2-9882759 Ext-255 Category: Milk Products Produce: For tetra Ltd 9, Prince Street P. O. Box-92032 Oakland, Newlands Nestle consumer service Post box no-11037, Uttra,Dhaka Care line number: 01730637853 0800217777 e-mail:concumer. [emailprotected] nestle. com

Free Essays on Innocent Lives Lost

before his execution were: â€Å"I am an innocent man. May God forgive everyone who said anything against me.† The next year, the victim’s husband confessed that he had murdered his own wife (Radelet, Bedau, Putnam 347). There are numerous amounts of incidents similar to the one depicted above that have repeatedly occurred throughout the course of history. Two highly distinguishable figures in the area of capital punishment in the United States, Hugo Bedau and Michael Radelet, discovered in 1992, at least 140 cases, since 1990, in which innocent persons were sentenced to death (Hook and Kahn 92). In Illinois alone, 12 death row inmates have been cleared and freed since 1987 (Execution Reconsidered). The most conclusive evidence in support of this â€Å"comes from the surprisingly large numbers of people whose convictions have been overturned and who have been freed from death† (Bedau 345). One out of every seven people sentenced to death row are innocent (Civiletti). That’s nearly 15% of death row inmates. The numbers are disturbing. Innocent people are becoming victims of the United States judicial system. A former president of the American Bar Association (ABA), John J. Curtin Jr., said it best when he told a congressional committee â€Å"Whatever you think about the death penalty, a system that will take life must first give justice. Execute justice, not people.† Though some of the innocent death row inmates have managed to escape their execution, there are numerous others who are unable to overturn their sentence through appeals. Many cases of innocence go unheard and result in the unfortunate fatality of an innocent. When the death penalty in 1972 was ruled unconstitutional in Furman v. Georgia, the Justices expected that the â€Å"adoption of narrowly crafted sent... Free Essays on Innocent Lives Lost Free Essays on Innocent Lives Lost Mead Shumway of Nebraska was convicted of the first-degree murder of his employer’s wife on circumstantial evidence and sentenced to death by a jury. His last words before his execution were: â€Å"I am an innocent man. May God forgive everyone who said anything against me.† The next year, the victim’s husband confessed that he had murdered his own wife (Radelet, Bedau, Putnam 347). There are numerous amounts of incidents similar to the one depicted above that have repeatedly occurred throughout the course of history. Two highly distinguishable figures in the area of capital punishment in the United States, Hugo Bedau and Michael Radelet, discovered in 1992, at least 140 cases, since 1990, in which innocent persons were sentenced to death (Hook and Kahn 92). In Illinois alone, 12 death row inmates have been cleared and freed since 1987 (Execution Reconsidered). The most conclusive evidence in support of this â€Å"comes from the surprisingly large numbers of people whose convictions have been overturned and who have been freed from death† (Bedau 345). One out of every seven people sentenced to death row are innocent (Civiletti). That’s nearly 15% of death row inmates. The numbers are disturbing. Innocent people are becoming victims of the United States judicial system. A former president of the American Bar Association (ABA), John J. Curtin Jr., said it best when he told a congressional committee â€Å"Whatever you think about the death penalty, a system that will take life must first give justice. Execute justice, not people.† Though some of the innocent death row inmates have managed to escape their execution, there are numerous others who are unable to overturn their sentence through appeals. Many cases of innocence go unheard and result in the unfortunate fatality of an innocent. When the death penalty in 1972 was ruled unconstitutional in Furman v. Georgia, the Justices expected that the â€Å"adoption of narrowly crafted sent... Free Essays on Innocent Lives Lost Mead Shumway of Nebraska was convicted of the first-degree murder of his employer’s wife on circumstantial evidence and sentenced to death by a jury. His last words before his execution were: â€Å"I am an innocent man. May God forgive everyone who said anything against me.† The next year, the victim’s husband confessed that he had murdered his own wife (Radelet, Bedau, Putnam 347). There are numerous amounts of incidents similar to the one depicted above that have repeatedly occurred throughout the course of history. Two highly distinguishable figures in the area of capital punishment in the United States, Hugo Bedau and Michael Radelet, discovered in 1992, at least 140 cases, since 1990, in which innocent persons were sentenced to death (Hook and Kahn 92). In Illinois alone, 12 death row inmates have been cleared and freed since 1987 (Execution Reconsidered). The most conclusive evidence in support of this â€Å"comes from the surprisingly large numbers of people whose convictions have been overturned and who have been freed from death† (Bedau 345). One out of every seven people sentenced to death row are innocent (Civiletti). That’s nearly 15% of death row inmates. The numbers are disturbing. Innocent people are becoming victims of the United States judicial system. A former president of the American Bar Association (ABA), John J. Curtin Jr., said it best when he told a congressional committee â€Å"Whatever you think about the death penalty, a system that will take life must first give justice. Execute justice, not people.† Though some of the innocent death row inmates have managed to escape their execution, there are numerous others who are unable to overturn their sentence through appeals. Many cases of innocence go unheard and result in the unfortunate fatality of an innocent. When the death penalty in 1972 was ruled unconstitutional in Furman v. Georgia, the Justices expected that the â€Å"adoption of narrowly crafted sent...

Curating the Web

Curating the Web Curating the Web Curating the Web By Maeve Maddox A Doonsbury strip in the Sunday paper introduced me to a new expression: curating a brand. Until then, the only meaning I knew for curator was â€Å"a person who looks after a museum collection.† I don’t know if Rohit Bhargava coined the term, but his article â€Å"Manifesto For The Content Curator: The Next Big Social Media Job Of The Future?† explains what is meant by content curator and what it means to curate the web: A Content Curator is someone who continually finds, groups, organizes and shares the best and most relevant content on a specific issue online. According to Rohit, â€Å"experts predict that content on the web will double every 72 hours.† He says that businesses that want to keep up with consumer comments on their products will require a full-time content curator. A related term is CGM: Consumer-Generated Media. The identity of the person who coined this term is known: Pete Blackshaw, CMO (Chief Marketing Officer) for Nielsen Buzzmetrics. In the old days, CGM consisted of letters and phone calls that were easy to ignore. Now it embraces blogs, photos and videos. Thanks to social networking sites, a positive or negative comment on a restaurant, a movie or a brand of cereal can go viral in minutes. This kind of CGM cannot be ignored. A site called Brandeo gives this definition of a CGM Multiplier: The extent to which an offline event (ad campaign, launch, new CEO) stimulates online discussion. Brandeo itself seems to be a web curator for the marketing industry. Manufacturers and service providers are not the only entities being urged to think about curating the web. The site Publishing 2.0 offers an article directed at journalists. Best Practices for Journalists Curating the Web The same site has an article by Scott Karp that suggests that instead of laying off redundant wire editors and feature editors, print newspapers might retrain them as web curators. On one site I found the term co-curate: How does a museum, with a (presumably) carefully constructed brand, often based largely on its carefully curated collection (whatever that may be), invite its patrons to co-curate that brand? Is that even a desirable goal? Does it depend on the museum, or the type of museum? BethDunn I came across the term curator effect at a site called CuratorEffect: The Curator Effect explains how profound shifts in consumer expectations mandate new business rules in eliciting consumer trust. An example of curating the web can be found on the NY Times technology page: a round-up feature called What Were Reading in the lower right sidebar. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Expressions category, check our popular posts, or choose a related post below:When to Use â€Å"That,† â€Å"Which,† and â€Å"Who†People versus PersonsWhile vs. Whilst

Texts 2 Essay Example | Topics and Well Written Essays - 2250 words

Texts 2 - Essay Example The model somehow mixes the inner and outer sings as well as many disciplines which can be seen by explaining that sociology, psychology and economics are major disciplines whereas parks and recreation, agriculture and transport are not the fields of study but are included as major disciplines in the model. The model actually is a puzzle between major and minor disciplines (Tribe, 1999) Also, we can say that marketing and business represent themselves as a problem. Marketing in general is considered a business function, it uses principles and guidelines from sociology and psychology as well as uses some of the business principles. Marketing is studied as a sub major in business and also, law is included in the business studies. So we can include these two as sub majors in the major discipline of business. "techniques required in business studies are derivative partly from the disciplines that contribute to them and partly from the world of business practice." Henkel’s analysis clearly explains aforementioned theories and states that in an alternate form that the validation of a part of its knowledge is outside of its academy (tribe, 1999). Tourism and business studies are the two emerging fields of studies and both of these fields collide or cooperate with each other in one way or the other. Hence, Tribe forces on the fact that there needs to be a new formulation of re interpretation of the model presented by Ritchie and Jafari since we need to incorporate business and marketing in the their model.Accommodating all the disciplines and departments under one heading of tourism studies is rather confusing and very difficult. We can say that we now need to divide the field of tourism studies into multiple fields, at least two and one of these two fields can be called tourism business studies whereas rest are still to be identified or incorporated into other fields of tourism studies. A tourism business study is a field of study mainly inspired from business

Strategic Supply Chain Management (REPORT) Essay

Strategic Supply Chain Management (REPORT) - Essay Example However, it is important for businesses to realize that the pillar of any business is its supply chain. Thus it is important to critically analyze the supply chain of the business. Supply chain deals with all the processes undertaken to provide a valued product or service to the customer. Thus the supply chain consists of processes right from the source, to the make and lastly to the delivery. Ensuring that the service or the product reaches the final delivery in the standard quality with minimum cost, is what makes a company profitable (Taylor, 2010). In order to understand the feasibility of the supply chain management, we will consider a case in point relating to British Airways. Since British Airways is a well established and successful organization, it will also have well established supply chain process. Let’s discover whether the supply chain of British Airways can improve according to the changing requirements of British Airways. British Airways is a name well known around the globe for its global airline service throughout the year at low fares. It also has the honour of being flag carrier airline for the United Kingdom. British Airways was formerly known as Imperial Airways. British Airways has a very good repute amongst its customers as it is known to be environment friendly. The company constitutes almost 48000 employees. Despite the economic crunch, the company has managed to maintain successful operations and is constantly striving to increase its profitability in the coming years. However that is only possible if the company identifies and builds upon its core competencies aligned with the changing trends of the global environment. The success of any company is determined by how it operates. The existing success of British Airways can be determined by the same reason. In the current situation, the company has set an exceptionally well working environment by determining certain KPIs

Victorian society Essay Example for Free

Victorian society Essay The Importance of Being Earnest, subtitled, A Trivial Comedy for Serious People is a comedy of manners whereby Oscar Wilde rebukes the Victorian aristocracy for their social issues that seemingly prioritise the most trivial of things such as style and appearance above those of true significance such as. Wilde further achieves this by incorporating elements such as farce and melodrama in order to highlight their senseless main concerns. Wilde portrays the act of â€Å"Being Earnest† as being in opposing to its definition as having features of dishonesty and false morality, with one of the main characters Algernon stating that â€Å"The truth is rarely pure and never simple†. Wilde’s first satirical attack in the play is marriage. Algernon is shown to perceive marriage to be a business deal as opposed to the projected illusion of it as described in the play as being based on mutual feelings of love (evidence – Ceclily or Gwendolen). This is evidenced by Algernon’s sharply comical and paradoxical epigrams in response to his best friend Jack Worthing’s admittance of wanting to propose to Algernon’s own ward Gwendolen he states: â€Å"I thought you had come up for pleasure? I call that business. † Wilde is seemingly satirising concept of marriage presenting it to be a legal contract between consenting families of similar social class and fortunes; Baxley comments â€Å"Wilde shows us how the upper class does not marry for love or happiness but for convenience and social standing†. )Algernon views marriage in an unorthodox way, unlike the expectations of modern day now. He views it as a disease, one that to be bearable needs an escape: â€Å"Nothing will induce me to part with Bunbury, and if you ever get married†¦ you will be very glad to know Bunbury. A man who marries without knowing Bunbury has a very tedious time of it. † ‘Bunbury’ (who is he) is a direct metaphor for Algernon’s deceit and escape from social expectation. He is a fictitious person; one that Algernon suggests is needed in general life but indeed emphasises that this is the case most particularly when one is married. Algernon disregards Jack’s confidence that once he finds love he will no longer needs a ‘Bunbury’[a]. On one level the exchange merely is a continuation of the long running marriage gag of the Victorian notion of â€Å"marriage bliss† in an era where the English aristocracy was dominant and superior, and far removed even from the British middle class. This would in turn amplify the humorous situation through Wilde’s blatant social criticism-through the ‘Bunbury’ double entendre to the middle class audience in particular. Nevertheless, it also brings to light a darker subtext, one were Algernon insinuates that all husbands in Victorian society have and need a ‘Bunbury’ thus satirising the moral values by highlighting the fact that aristocratic meaning as long as they kept within the appearance of propriety, they could lead a double life and avoid responsibility but still keep upmost respect from society. Consequently, Oscar Wilde satirises duty and respectability simultaneously with the notion of marriage in Victorian society by demeaning their importance. Wilde could be said to be suggesting that their ‘duty’ is a pun (with reference to the title of the play) and in fact the aristocracy duty is more so simply a title that entails a need for pity as opposed to awe. Perhaps this is purposely done as such a suggestion to a Victorian audience would have been deemed an outrageous concept even to the extent of offence but is accepted due to the comedic light-heartedness and infantile manner in which it is presented; through Algernon’s unrealistic approach to life and love. His ignorance and foolishness, contributes to the satirical nature of the play but yet in keeping with the comedy genre due to the melodramatic and foolish aspects of his character for example: â€Å"She will place me next Mary Farquhar, who always flirts with her husband across the dinner-table. That is not very pleasant The amount of women in London who flirt with their own husbands is perfectly scandalous. It looks so bad. It is simply washing one’s clean linen in public†. This statement highlights the fact that Algernon recoils at the very thing that society values. His offence that the women he will be seated with flirt only with their husband and no one else evidences this. The importance of marriage instead is subverted and can be seen as simply a stipulation and social expectation that comes with the responsibilities of being in the upper class a view, which is seen as trivial and unimportant as the characters mainly view marriage as a social tool.

Bob dylan: a classic Essay -- essays research papers

Mr. Tambourine Man Chorus Hey, Mr. Tambourine Man, play a song for me I’m not sleepy and there is no place I’m going to Hey, Mr. Tambourine man, play a song for me I’m the jingle jangle morning I’ll come following you Though I know the evening’s empire has returned into sand Vanished from my hand Left me blindly here to stand but still not sleeping My weariness amazes me, I’m branded on my feet I have no one to meet And the ancient empty street’s too dead for dreaming >Chorus Take me on a trip on your magic swirling ship My senses have been stripped My hand’s can’t feel to grip My toes too numb to step Wait only for my bootheels to be wandering I’m ready to go anywhere, I’m ready for to fade Into my own parade Cast your dancing spell my way, I promise to go under it†¦. >Chorus Though you might hear laughing, spinning, swinging madly across the sun It’s not aimed at anyone It’s just escaping on the run And but for the sky there are no fences facing And if you hear vague traces of skipping reel rhyme To your tambourine in time It’s just a ragged clown behind I wouldn’t pat it any mind It’s just a shadow you’re seeing he’s chasing >Chorus Take me disappearing through the smoke rings of my mind Down the foggy ruins of time Far past the frozen leaves The haunted frightened trees Out to the windy beach Far from the twisted reach of crazy sorrow Yes to dance beneath the diamond sky with one hand waving free Silhouetted by the sea Circled by the circus sands With all memory...