Structured Cabling

1. What industry standards body and standards series numbers do you need to reference for Ethernet applications and cabling? The IEEE maintains the industry standards for Ethernet Protocols (or applications). This is part of the 802.3 series of standards and includes applications such as 1000Base-T, 1000Base-SX, 10GBase-T, and 10GBase-SR.2. What are the different types of category 6 cables and what should be recommended this network? Category 6 and category 6A are the types of cables; I would recommend Cat 6A cable over Cat 6 because cat 6A also supports 10Gbps which is for future speed.3. What cable would you recommend to offer the best shielding performance? You need STP or FIBER OPTIC cable to provide best shielding performance, optic fiber is expensive not easy to terminate ends and has no RFI EMI, whereas shielded twisted pair is easy and cheap.4. What type of cable would you use for the horizontal spaces and vertical links? Cat6 is the current standard for new installations of Ethernet cable. Depending on the space and certain building codes you need to decide between Plenum (CMP) or Riser (CMR). The difference being Riser cable is more durable, but puts out toxic fumes when caught on fire, so it is not suitable for spaces with open air flow. Dropped ceilings are generally considered Plenum spaces so therefore require plenum cable.5. What would you look for in trying to find fault if you had the following next and fext problems in 1Gbps links and difficulty meeting 10Gbps performance requirements? When finding fault in NEXT; the crosstalk is usually detected or found at the same end of the cable generating the signal and it is most common between 60 and 90 feet of the transmitter.In the other hand, when finding faults in FEXT the crosstalk occurs in the other end (opposite) of the cable. the problem is usually too many twists in the  cable; Alien Crosstalk (AXT) as the signal rate increase in a cable, this is a major source of interference, and a limiti ng factor, for running 10GBase-T (10Gbps) over UTP cabling. This kind of crosstalk usually â€Å"occurs when the signal being carried in one cable interferes with the signal being carried in â€Å"another cables†.TermsOsi- (Open Systems Interconnection) this is a standard description or â€Å"reference Model† for how messages should be transmitted between any two points in a telecommunication network. Its purpose is to guide product implementers so that their products will consistently work with other products. The reference model defines seven layers of functions that take place at each end of a communication. Although OSI is not always strictly adhered to in terms of keeping related functions together in a well-defined layer, many if not most products involved in telecommunication make an attempt to describe them in relation to the OSI model. It is also valuable as a single reference view of communication that furnishes everyone a common ground for education and dis cussion.Developed by representatives of major computer and telecommunication companies beginning in 1983, OSI was originally intended to be a detailed specification of interfaces. Instead, the committee decided to establish a common reference model for which others could develop detailed interfaces that in turn could become standards. OSI was officially adopted as an international standard by the International Organization of Standards (ISO). Currently, it is Recommendation X.200 of the ITU-TS. The main idea in OSI is that the process of communication between two end points in a telecommunication network can be divided into layers, with each layer adding its own set of special, related functions.Each communicating user or program is at a computer equipped with these seven layers of function. So, in a given message between users, there will be a flow of data through each layer at one end down through the layers in that computer and, at the other end, when the message arrives, another flow of data up through the layers in the receiving computer and ultimately to the end user or program. The actual programming and hardware that furnishes these seven layers of function is usually a combination of the computer  operating system, applications (such as your Web browser), TCP/IP or alternative transport and network protocols, and the software and hardware that enable you to put a signal on one of the lines attached to your computer.The 7 Standard Tcp/IPLayer 7: The application layer†¦This is the layer at which communication partners are identified, quality of service is identified, user authentication and privacy are considered, and any constraints on data syntax are identified. (This layer is not the application itself, although some applications may perform application layer functions.) Layer 6: The presentation layer†¦This is a layer, usually part of an operating system, that converts incoming and outgoing data from one presentation format to another (f or example, from a text stream into a popup window with the newly arrived text). Sometimes called the syntax layer.Layer 5: The session layer†¦This layer sets up, coordinates, and terminates conversations, exchanges, and dialogs between the applications at each end. It deals with session and connection coordination. Layer 4: The transport layer†¦This layer manages the end-to-end control (for example, determining whether all packets have arrived) and error-checking. It ensures complete data transfer. Layer 3: The network layer†¦This layer handles the routing of the data (sending it in the right direction to the right destination on outgoing transmissions and receiving incoming transmissions at the packet level). The network layer does routing and forwarding.Layer 2: The data-link layer†¦This layer provides synchronization for the physical level and does bit-stuffing for strings of 1's in excess of 5. It furnishes transmission protocol knowledge and management. Lay er 1: The physical layer†¦This layer conveys the bit stream through the network at the electrical and mechanical level. It provides the hardware means of sending and receiving data on a carrier.

Organization Behaviour Case Study

Executive summaryIn this report, a case of Morgan-Moe’s drug stores will be studied. The company is suffering from a difficult economy situation, with stores being downsized and employees being dismissed. There is a huge problem concerning employee motivations. Therefore, the human resource team decided to change the management system, and they had conducted an experiment to test five newly designed programs. The outcome is analyzed based on sales revenues and employment turnover rate, and the most effective programs are selected accordingly.At the same time, critical thinking is applied in this report. The process of the experiment is reviewed, and several factors are added into the consideration. Meanwhile, both practical and theoretical information is provided relating to the changing workforce, the importance of goal and directions, the construction of organizational culture, the employ involvement and empowerment, the changing resistance, as well as the justice and fairne ss of work place. Through these further analyses, a more comprehensive management system is suggested to Morgan-Moe’s drug company.Background informationMorgan-Moe’s drug stores used to be the leading company in the retail industry with the firm owning hundreds of stores. However, there has been a dramatic declining in revenues recently based on a sharp decrease in the region’s manufacturing economy. The company used to consider high-margin items as their major product, but they have to switch their focus on low-margin commodities, and therefore the profit has been fallen rapidly. Out of frustration, the company has to cut down the number of stores, and dismiss the employees.As the business going worse, there are some negative influences on the employees. Because of the insecurity of their jobs, employees had formed a pessimistic attitude against their daily work. Besides, the lack of advanced notice and communication, as well as the unsatisfied severance paymen ts for departing employees, had caused the laid-off employees to have a radical emotion of angry. In this way, the working efficient of the daily operation was weakened, and the public image of the company has also been damaged.To deal with the changes and to solve those problems, Jim Claussen, vice president of Human Relations, determined to set a new direction for the company, and the human resource management team decided to transform their performance management system. In order to come up the most effective management system, the HR team had come up with five options for the company, and each individual manager of the store is able to choose the most appropriate approach for their management purposes. An experiment had been conducted, and the results are analyzed in details in the following report.Experiment approachAs mentioned above, there are five programs designed for this experiment (listed in the following table), and those programs can be considered as the variables. Pro gram one is designed to be the same as the previous system, with sharing little or no information; program two and three provide employees with information that is controllable (sick leave) or uncontrollable (sales and inventory replacement); and program four and five engage employees into the decision making process with employees providing suggestions for a better performance.Program No. ContentProgram 1Continues to stay the course and providing employees with little to no information or opportunities for participation.Program 2Tracks employee absence and sick leave and shares that information with individual employees, giving them feedback.Program 3Tracks sales and inventory replacement rates across shiftsProgram 4Tracks the same information as Programs II and III. Managers communicate it in weekly bases, during which employees make suggestions for improving performanceProgram 5Keeps the idea of brainstorming, but doesn’t provide employees with information about their beha vior or company profits To achieve a comprehensive analysis of this experiment, we need to identify what the independent and dependent variables are. According to Sechrest (1982), independent variables refer to factors of input which are able to be controlled, while dependent variable indicates the output or outcome which is determined by the dependent variable.In this case, the independent variables rely on both the management and employee perspectives. Analyzing from the management perspective, the information sharing level, the empowerment level and management style will all have an influence on the outcomes. On the other hand, factors of employees should also be considered as independent variables. For example, the employment age, their positions in the company, the working condition or location will all affect the experiment results.Our dependent variables focus on the outcome of those programs that we want to measure, and it can be classified as the average turnover rate, the sales profit, and the monthly staff cost time. Those dependent variables are determined by the independent variables, and the change of each independent variable will have an influence on the dependent variables and experiment outcomes.Finding and discussionThe experiment was conducted within 299 retail stores, and the results are listed in the appendix. As can be observed, program four and five should be regarded as the most effective methods in generating revenues and reducing turnover.First, we will focus on the revenue and cost aspects. As listed in the  following chart, program one and two have a relatively low profit per month, which indicates that the sales revenue of stores using program one and two is lower than those applying program four and five. In other words, stores which engage employee into the decision making process are able to generate more sales revenues in general. It can be seen that employee’s suggestions could help the company to increase the profit and achieve a better performance.Even though program four and five had generated the highest revenue during the experiment, they also caused the highest cost of staff time. On the other hand, since program one did not need to make any changes, there will be no staff cost. Staff cost means that the employees had to take some of their regular working hours into the information sharing and brainstorm meeting, so that the opportunity cost of those hours must be considered as well. Therefore, we need to deduct those costs from the revenue to get the net profit for each program. As can be seen from the following chart of net profit, program four and five still have a relatively higher profit of $9,580 and $11,250 than the other programs after remove the staff time cost from the revenues.Another measurement is the employee turnover rate, which represents the percentage of employees who either quit or terminate their jobs. To maintain the experienced employees and to reduce the time cost o f training newly recruited members, it is better for the company to keep a lower employee turnover rate. According to the experiment result listed in the following chart, program four and five have a relatively lower rate of employee turnover of 17% and 21%.On the other side, program three has the highest turnover rate, following by program one. It can be figured out based on the results that a high level of employee engagement into the decision making process will have a positive influence to reduce the employee turnover rate. If the employee’s opinions and ideas are encouraged and respected in the company, they are more willing to dedicate themselves into their working process.As analyzed above, it is obvious that methods four and five are superior to the other methods, because they generated higher profits and lower employee turnover rates. On the contrary, program one is the least effective management system with regarding to a lower sales profit and a higher employee tur nover rate. In this way, the company should be encouraged to modify their current management system, and systems like program four and five should be promoted to engage the employees into the decision making process.However, there are some concerns regarding to the experimental approach. In this experiment, each manager was able to select the program which they think might be the most appropriate for the retail store. As can be seen in the following pie chart, almost one third of the managers choose program one which is to keep the status quo. Even though a relatively large number of managers choose not to change, it does not necessarily mean program one is a better solution. However, more than half of the managers are willing to bring changes into the organization and to offer empowerment to employees. Meanwhile, program four and five are approved to be the more effective methods based on the experiment results, so the majority of managers agreed with our conclusion.Based on variou s management styles, managers would have different preferences, and therefore it is possible that the decisions were made with personal biases. In this way, the impartiality of the experiment would be negatively affected. To monitor the fairness of the experiment, a randomly assigned strategy could be recommended instead of the self-selection process. Critical analysisApart from the data and information that has been collected in this experiment, there are some other issues for the managers to consider. It is universally known that the world is continuously changing, and if a company wants to be the leading organization in the rapidly changing environment, it has to be adaptive and creative to fit into the new situation.In this case, the manager had made his effort adapting to the current situation by designing the different programs. However, the requirement of  diversified workforce (Langton, 2012) should also be seen as one of the new realities. In is undeniable that the employ ment of experienced workforce is more dependable than young workers, because they have accumulated more professional knowledge about the work.However, in the current unpromising economic situation, the company might want to hire more diversified workforces. It will not only serve the different need of various customers, but also could generate more fresh ideas during the brainstorm meeting. Meanwhile, with diversified workforce, the employees will generally increase their skills and capabilities by sharing their knowledge.Apart from adapting to the changing situations, the organizational goal and direction are also essential when making organizational decisions and motivating employees. Specific and achievable goals could improve employee’s performance and help the management process. According to Langton (2012), a well-designed company goal is able to provide a direction for employee’s actions, regulate their behavior and efforts, as well as increase their persistence during their working process. Meanwhile, goals and directions are also able to stimulate the development of administrative strategies, and it will dramatically increase the motivation of employees. Accordingly, the Morgan-Moe’s drug stores should primarily design a specific goal to direct the employment behaviors.As Lencioni (2012) represented in his book, once a company has accomplished setting their mission and goals, which he refers to as the â€Å"clarity†, those directions must be emphasized and reinforced during the daily basis of the operation process. In other words, the tasks and jobs assigned to employees must be designed based on the major objective and goal of the company. Meanwhile, award and appreciation systems should be provided to employees to promote their motivations. Fairness and equity must be considered when offering employees rewards, and the rewards should be in alliance with organizational goals and personal performance.In addition to organiza tional goals and objectives, organizational culture and value should also be created as a core factor within the organization. A satisfying culture could get employees to be engaged into the organization,  and it will also have a positive influence in the employee’s job satisfactory level, which might lead to a higher level of motivation. As showed in the following chart (Round the Clock Resources, 2012), a sustainable organization should build up a solid system around an appropriate working culture, with other aspects constitute a framework guiding the business process.At the same time, employment involvement and empowerment strategies must be implemented within the organization. Those strategies suggest a company to move some of the power from managing level into the general employee level, which indicates that employees should be inspired and encouraged into the decision making process. Based on Herzberg’s motivation-hygiene theory (Langton, 2012), employees shoul d be given greater responsibilities and more power to plan and control their work, and their motivation would be increased.As in this experiment, program four and five are designed with empowerment activities, they engage employees into the brainstorm meeting to communicate the current situation and to generate ideas and suggestions of what they can do to for a better development of the company. Judging by the results, it is testified that giving employees more responsibility is able to improve the sales profit, reduce employment turnover rate and increase the overall performance level of the organization.When bring changes into an organization, not all employees are willing to embrace the transforming. There will be a resistance power caused by the fear of the unknown and uncertain future. As Torben Rick (2011) illustrates with his â€Å"change cycle†, employees will experience several stages before they finally accept the conditions.During the changing process, it is signif icant for managers to have a clear communication with the employees, and the directions must be clear and precise, so that the employees understand the current situation and their expectations. Meanwhile, managers must be fair and impartial to maintain the organizational justice, in which way a satisfied working environment could  be established, and the employees are trusted and they will be more committed to the organization. Conclusion and recommendationAccording to the experiment results, program four and five are considered to be most effective because they are able to generate relatively higher net profits and lower employment turnover rates. It means a regular brain storm meeting is beneficial for the improvement of organizational performance and employment engagement. Therefore, managers should actively encourage employees to be involved into the decision making process.However, considering the current business situation, the managers should also embrace more diversified w orkforce, and different kinds of employees should be hired. Besides, a clear goal and direction should also be created by the management level to guide the behavior of employees. Apart from that, a favorable organizational culture should also be established to form an instructional working environment. At the same time, actions of employ involvement and empowerment should also be taken to increase motivation and employment responsibilities. During the management process, organizational justice and fairness should also be paid attention to, so that employee will be committed to the organization.

Investigating a Crime Scene Essay

On TV shows like â€Å"CSI,† viewers get to watch as investigators find and collect evidence at the scene of a crime, making blood appear as if by magic and swabbing every mouth in the vicinity. Many of us believe we have a pretty good grip on the process, and rumor has it criminals are getting a jump on the good guys by using the tips they pick up from these shows. But does Hollywood get it right? Do crime scene investigators interview suspects and catch the bad guys, or is their job all about collecting physical evidence? In this paper, I’ll examine how a crime scene investigation really takes place. When working a crime scene there are many steps that must take place in order for any investigation to hold up in court. A proper investigation can take hours, but the end result can lead to a conviction of the guilty and justice for victim’s families. The first officer at the crime scene should do everything they can to keep all evidence in its original state. The crime scene must be blocked off immediately to avoid any contamination or loss of evidence. Boundaries should be established for each area of the scene that needs to be secluded. This will include any paths of entry or exits and areas where evidence has been discarded or located. All areas of the crime scene should be blocked off using tape, ropes, or traffic cones. If the crime took place indoors, a single room can be blocked off depending on the place of the crime and where it occurred. Police barricades and guards can help with securing the scene as well. This is a good way to monitor the area to make sure no unwanted people get through and cause loss of evidence. This will include officers that are not involved in the case, neighbors and the family of the victim. Securing the crime scene must be done in a timely manner and all persons entering the scene should be recorded, and times of the entry should be taken as well. Before anyone can enter the scene, the responding officer must first establish a walk way. This is done to ensure that no evidence is being touched and is out of the way before walking into the scene. This will include investigators or medical examiners that need to get to any victims that may be injured. Once the crime scene has been blocked off and secured, the investigators will process the area. At this time a strategy is put into place. This will start the examination of the area and documentation of all evidence at the scene. A walk through of the scene will take place by the lead investigator to establish how the scene was entered and exited at the time that the crime took place. Once the points of entry are established, the investigator will find the center of the scene using the path that the first officer established. A crime scene is three dimensional so that when making their way to the center of the crime scene, evidence will be located. It is the investigators responsibility to photograph and document these items as they are seen. There are many questions that will need to be answered during the investigation such as but not limited to: did this crime involve violence, or are there any hazardous conditions that they should be aware of? The scene should be looked over as if trying to put a puzzle together. Looking around at objects in the crime scene can tell a whole lot as to the time the accident occurred or if objects seem like they are missing. There are two categories a crime scene can fall under; one is a primary crime scene where the crime occurred or a secondary crime scene where evidence was taken to and is now a part of the crime scene. A command center needs to be put into place outside the crime scene. This is where the investigators receive their assignments, store the equipment that will be needed or where they gather to discuss or go over the case. Tasks are assigned to all of the investigators which will ensure that all aspects of the area are covered. Tasks include locating, processing, accessing, photographing and sketching the evidence at the scene. Searching a crime scene and how a crime investigation is carried out depends on the size and area of the scene being investigated. The different kind of crime that was committed can have a great toll on how the investigation is carried out as well. When doing a search of the crime scene, different kinds of flash or illumination are used to show fingerprints, handprints or other things that may be gathered as evidence. There are different patterns in which a crime scene is investigated or searched. Each pattern depends on the scene and what kind of evidence is suspected to be found at the scene. This could include: a line or strip search where two investigators walk in straight lines across the crime scene and search for evidence, a grid search where investigators form a grid throughout the scene making overlapping lines, a spiral search where an investigator works in a spiral motion from the outer part of the scene or vice versa, a wheel ray search which is done by a group of investigators that move from the boundary of the crime scene and work their way to the middle of the scene, or a quadrant or zone search where the crime is divided into sections and is split up between investigators and divided again to search more thoroughly through that section. When searching a crime scene at night difficulties will come up due to lighting. Boundaries of the scene are hard to see when trying to locate evidence. The search of evidence is determined by each crime scene, because every crime is different in its own way. Locating evidence includes footprints, weapons, blood spatter, trace fibers or hairs. When an investigator locates evidence everything should be recorded. Exact location in notes, photos and sketches must be done, and all evidence must be marked with an evidence marker once it is recorded. A search will end when all evidence is located. Once a decision has been made that the investigation has come to a close, the team will conduct a final survey. This survey will include an overview of the scene and all evidence is collected and bagged. Taking notes at a crime scene begins the moment an investigator gets a call. All notes must be specific. Notes should begin with all the information of the person who has called in, the time the call was placed and all of the information that is given about the crime, as well as the assigned case number that is given. When an investigator arrives at the scene, date, time and all persons present must be recorded. All notes should be in detail, and all movements that are taken should be documented. The lead investigator will do a walkthrough of the scene and at this time notes are taken with details of the condition of the scene. All notes taken should be in blue or black ink. Notes are very important to the investigation, and all notes should be taken at the scene and not left up to memory. This ensures that all information is recorded and nothing is left out. Notes should include all documentation of the victims, witnesses, evidence collected, tasks being performed, and when and how an object is packaged. There should be no task, detail or movement left out when taking notes at a crime scene. Photographing a crime scene is extremely important in a crime scene investigation, and should be of high quality and very clear. These photos will be used in court, so when taking the photos you need to keep in mind that the person or persons viewing the photos should be able to understand where the photos were taken and should be able to tell the story through them. The overall area of the scene should first be photographed such as street signs, street lights, addresses, and identifying objects. Photos should be taken in a clockwise direction to prevent any information from being left out. Different lenses should be used when photographing different parts of the scene as well as different illuminations, flashes and filters. The first photo should consist of a photography log that includes that case number, type of scene, date, location of scene, type of camera used, photographers name and title. Photos should be of the scene before it has been altered in any way. The photos should include the area that the crime took place, and areas where other acts occurred. Pictures should be taken from the outside of the scene working towards the middle of the scene. The photographer must be consistent when working through the scene as this will ensure that all evidence is photographed from all angles and nothing is left out. Photos should include: overview photographs which consist of the entire scene and surrounding area. These photos include all exits and entries, and should start from the outside of the scene and in all angles. And medium range photographs which show smaller areas of the crime scene. These photos should be taken with evidence markers. Sketching the crime scene is done after all notes and photographs are taken of the scene. A sketch will show the layout of the area or house where the crime was committed, as well as where the evidence was located. It is used to back up all notes and photographs already taken. All aspects of a crime scene will be shown in court and used to convict the guilty; therefore, it is extremely important that all steps of the investigation are followed exactly and with as much detail as possible to ensure that justice can be served.

Leadership styles and its applicability in India

   In a large organisation there motivations are likely to be as varied as human needs can be – not only for security, higher income and better working conditions but for affection, recognition, deference, esteem, and for both autonomy towards and dependence on the executive leader, for both conformity and individuality – traits that can exist in the same person. Other things being equal, the stronger the motivational base the leader taps, the greater control over that person the leader can exercise. † Thus, leaders are persons who use different methods to ensure that the right work gets done. Hence, not only do leaders need to know how to deal with persons but also must know what the right things are. Leadership is defined in a dictionary as: the position or function of a leader; the ability to lead; or an act or instance of leading. In a business environment real leadership is the act of pulling your employees forward to a desired level of performance. A distinction can be made between a leader who gets people to achieve specific goals and a leader who gets people to achieve specific goals and develops a self actualisation belief system or culture. Both are exercising leadership. However, one is dealing with â€Å"transactions† and the other is â€Å"transforming† the character of the organisation. Thus, transactional leadership is when leaders determine what subordinates need to do to achieve objectives, classify the requirements to achieve the objectives and help subordinates become confident they can reach their objectives. On the other hand transformational leadership works on the vision for the organisational as a whole and prepares the employees of the organisation to meet the challenges of the future and deal with all of them. Further, the key to understanding real leadership lies in understanding that your employees have different personalities and attitudes; each one has different job responsibilities; each one has a different view of what is important in the operations of the organisation. Therefore, a leader has to cater to all types of employees and use different styles of leadership to bind them together and achieve the objectives of the organisation. Further, there are many ways in which a leader can lead. However, certain common elements such as a vision of purpose, gaining organisational commitment to this vision of purpose and providing the wherewithall to carry it out, are some of the common elements a leader has to have, irrespective of his style of leadership. Thus, even though leadership styles are not given much importance, especially where there are successful leaders, the style adopted by a leader is an integral part to being a successful leader in the long run. As mentioned earlier persons can perform the vital functions of leadership in many different ways. The style of leadership a leader adopts depends on the situation and on his or her personality traits. The interplay between these two factors is complex. Some situations may favour one style; other situations may favour another style. Some leaders may vary their styles, whereas other leaders may not be able to vary their styles. As mentioned above, leadership styles are complex and varied as they depend on many behavioural traits. One may look at leadership styles depending on how a person influences others. Leaders may rely on charisma; leaders may use their positional authority; leaders may lead by example, etc. However, this delineation of leadership approaches or styles, is only a matter of emphasis. In practice leaders normally resort to a multiple of leadership styles. Thus, there are many classification of leadership styles and a lot of research has been undertaken on them. This article looks at the broad transitions through which leadership styles have passed. Today, leaders have moved from authoritative to benevolent to consultative and democratic. These styles also reflect the changes in attitudes of employees, earlier they were completely under the control of the employer, today they are more enlightened and demand dignity and equality. Thus, if a leader does not recognise this he/she will not be successful. Before one discuses the leadership styles in India, one needs to look at the business environment in India. India has today seen a lot of transformation from an unexciting mix of government owned companies and private family owned companies, many of which survived on government licenses to the inflow of multinational companies and lot of Indian companies being run as professional companies. Further, today there is talk of privatizing public sector companies, however, there are some public sector companies earning profits. All these changes in the business environment has led to a change in the leadership styles, in certain cases leadership styles have changed business. In the public sector the leadership style has been formal authority, wherein the employees do not have the freedom to express themselves. Under such situation the employee will not work to his/her utmost ability, but will only carry out those tasks, which are required of them. There is no scope of being innovative, as mistakes are not accepted. Further, even the leaders of public sector undertakings do have the power to be creative. In order to change the above-mentioned situation, there is a need for the leaders of the public sector companies to change their style of leadership. They should adopt more democratic and participate styles of leadership and such leadership styles should not be adopted just to show to the employees that they being included in the decision making, but should be introduced in its true spirit. The public sector leaders need to adopt â€Å"transformation† leadership, where the employees of an organisation are moved towards achieving objectives, not for the sake of keeping their jobs but because they believe in the objectives of the organisation. As mentioned earlier, in the private sector in India there is a lot of change taking place. With the coming in of foreign investment, Indian enterprises have to be competitive and change with the times. In the past, India's private sectors comprised of family owned business and the employers did not care much for their employees, as they had the power of money. The leadership style of adopted by them was authoritative. Employees were treated like servants and could be called upon do to tasks that were not part of their job description. Even though the above style of leadership still exists in many private sector companies, there has been a change in the style of leadership in many of the professional run Indian companies. It has become more democratic. However, in order to change the way India companies function, there is a lot of work still to be done. Change of leadership style is an important area in which Indian companies should invest time and energy. In a labour abundant country, people's satisfaction is an easy thing to forget, however, it is important that their needs are fulfilled, if the organisation is to be successful. People are the greatest asset an organisation has and if leaders of organisation adopt leadership styles that are democratic and transforming, then the organisation would well be on its way to achieving its objectives. As the CEO of GE, Jack Welch has said, â€Å"we cannot afford management styles that suppress and intimidate. † Leadership behaviour is moving in many directions. Transformational and charismatic leadership are gaining in importance. There is even talk of whether self-managed groups are better than having leaders. In the world over, authoritative forms of leadership have collapsed. In India we are at a stage where maybe a totally democratic style of leadership may not succeed. This is because employees at large are not use to being taken into confidence and therefore, if a leader tries to use the democratic style of leadership he may not succeed, however, an enlightened leader must realise that, if the democratic style of leadership is not eventually followed, he may only be successful for a short period. Thus, a leader will need to resort to maybe all the styles of leadership in the course of his interaction with other, however, at the end he/she should make sure that the democratic style of leadership is used most.

Netherlands decriminalised euthanasia-law Essay Example | Topics and Well Written Essays - 250 words

Netherlands decriminalised euthanasia-law - Essay Example The Royal Dutch Medical Association KNMG, together with the Dutch courts, have the responsibility of establishing and maintaining guidelines which are used by physicians in the selection of patients who qualify for either euthanasia, or assisted suicide. If the attending doctor follows all the guidelines given by the KNMG before assisting a patient, he is then not liable for prosecution. Over time, some of these guidelines are being ignored and some of the doctors have resorted to administering the operation without following all the legal guidelines (Dykxhoorn). The Dutch Courts have ruled that euthanasia is allowed to be performed by doctors in cases where, the doctor faces an irresolvable conflict between his responsibility to his ailing patient whose incurable condition necessitates euthanasia, and the Dutch laws which helped make euthanasia illegal. If a patient persistently and freely makes a request for assisted suicide as a result of his condition, the Dutch doctors are obligated to consider the request (Dykxhoorn). The first Dutch government study on euthanasia, The Remmelink Report of September 10, 1991 clearly shows that doctors are increasingly taking over making the making of the decision on if a terminally ill patient is to live or die. In cases where the patient wishes to be aided in suicide or needs euthanasia, the decision on whether a patient should continue to live or is to die is decided by a team of physicians and experts or exclusively by the attending doctor (Patients Rights Council). According to Derek Humphry, Switzerland is the only country, which does not, bar foreigners from obtaining euthanasia and assisted suicide services but laws are carefully regulated to ensure that the reasons for obtaining the assistance are valid as the Swiss laws require. (Humphry) Terminally ill patients should be permitted to decide on whether or not they want to die. However, laws and regulations should be enacted and be strictly regulated to ensure that

Understand the Behaviour of Organisations in their Market Environment Essay

Understand the Behaviour of Organisations in their Market Environment - Essay Example Understand the Behaviour of Organisations in their Market Environment This has enhances shopping for consumers making it even more convenient by providing all products under the same roof. Tesco’s has been working towards building of a sustainable business model throughout the years. This has been done through diversification into new geographical areas as well as value added retailing (Datamonitor, 2011, 7). This has enabled Tesco to reduce its business risk as well as work toward increased sales through trade in growth markets. Similarly, value added retailing encourages consumers loyalty and assist to sustain revenue growth even in times of economic difficulties. However, with increased competition in the UK market, retaining customers would be a crucial concern for Tesco. This has a risk of causing loss of the market share (Finne & Sivonen, 2009, 298). Perfect Competition This is the existence of different buyers and sellers, which implies that prices vary in response to supply as well as demand (Wood, 2008, 187). The market is characterized with substitutes where increase in price of one commodity means a change to consumption of the existing substitute. Both the buyer and the seller are seen to have equal chances of influencing the price. There are two extremes in perfect competition, which include monopoly, as well as oligopoly market. Price and output in a perfect market is determined as shown below. The profit in the firm indicates the level of price and output in three different ways. For a firm to make profits, it will produce at a level where P> ATC, while experiencing losses P< ATC and for it to break even P= ATC. Monopoly In a monopolistic market, there is only a single seller with a number of sellers. The firm is the price maker and therefore, determines the level of output as well as price (Finne & Sivonen, 2009, 298). The firms aim is to maximize profit. Oligopoly Classical theory in economics has the assumption that a producer with some market power whose aim is to maximize profit will set Marginal Cost ( MC) equals to Marginal Revenue (MR) (Finne & Sivonen, 2009, 298). This indicates that the larger the quantity sold the lower is the price. Any change in MC or MR will be indicated by the price. This, however, does not occur where a kink exists. As a result, MC in this case would change without a change in price or quantity. The advantage of this to consumers is that companies will not raise their prices in fear of losing customers (Seth & Randall, 2011, 234). However, even a fall in price will only gain a few customers. This indicates that the curve is price elastic in case of price increase and less for price decrease. In the end, competitive firms will enter the industry. Pestle Analysis Political factors Tesco is an international company with carrying out operations in 14 countries. This makes the organization susceptible to the various legislative and political environments in these countries. This necessitates the compliant to comply with these laws to avoid conflicts with the authorities. In most countries, governments encourage foreign companies to consider local candidates for various posts in the organizations, to ensure locals benefit from their investments. This, therefore, means that Tesco employs a wide pool of individuals to satisfy their labor requirements. Tesco will be compelled to follow the legislation on employment adopted in the country where its stores are located. Economic Factors Economic factors are crucial in the operation of an

School Counselor-IEP etc Essay Example | Topics and Well Written Essays - 1000 words

School Counselor-IEP etc - Essay Example It goes beyond the superficiality of the problem to investigate the details so that problems can be identified holistically so as to develop effective interventions. The role of special education teacher is to implement the strategies within his/ her teaching approaches. But my role primarily would be limited to being a consultant or rather a ‘teacher advocate’ who would like to evaluate the effectiveness of strategies and identify factors which could be hindering the progress. I would facilitate support to different stakeholders and act as conduit for regular and effective communication. It is important to understand and address the obstacles that adversely impact participation of persons with disability in the mainstream education. It would be more of an observer. As an advocate for inclusive education, I believe that I can use my skills and academic expertise to improve the efficacy of program/ strategies by identifying the shortcomings and communicating the same so t hat issues can be resolved with the help of parents, teachers, administrators and all those who can contribute positively to the wide goals of IEP. Response a This is hugely relevant for children with special need because the child could be having varying degree or sometime multi-lateral disabilities that need to be assessed. The thorough assessment helps to evolve effective strategies for inclusion of the child in the mainstream education system. Response b Success of IEP or for that matter, any social program is dependent of collaborative approach where community, government (in this case, school) and students together evolve solutions for defined problems. Answer 2 Cultural/ multicultural issues and considerations in special educations are vital part of the success of the program. Globalization has brought about tremendous changes to the social fabric which has increasing become multicultural, comprising of people coming from different race, color, nationality and culture. The ch allenges of complex nature of emerging new society must be met through promotion of cross cultural understanding. In special education, it becomes highly pertinent aspect of effective implementation as they need to incorporate the perspectives of diverse society and remove barriers of language and cross cultural paradigms that can be interpreted differently if cross cultural understanding is not developed. Huntington (1993) believed that major element of conflicts would be cultural based. The contemporary times has vindicated his claim. In some culture, looking directly at person is not respectable which can be construed as not paying attention by the western society. Hence, cross cultural understanding become crucial for all the persons who are working in the area of special education needs. Awareness of biases within the communities prepares the coordinators and all concerned to have flexible approach.  IEP strives to address these issues and ensures progress through feedback sy stem. Response c Indeed, the increasing diversity in the society necessitates cross cultural understanding and flexibility in approach. This would enable the counselors and teachers to understand the child and decipher his/ her problems with more accuracy. Response d These are interesting interludes that confirm the conflicts that are caused due to lack of knowledge about other cultures. In the contemporary times, diversity has become intrinsic part of society and therefore, one must strive to inculcate cross

Roosevelt Politics Essay Example | Topics and Well Written Essays - 1250 words

Roosevelt Politics - Essay Example Fascism and Benito Mussolini arose in Italy, and Adolph Hitler and the Nazi party took over Germany. Civil war broke out in Spain, and militarists gained control of Japan. The futile League of Nations stood by as nationalism and aggression grew. For Franklin Roosevelt, these international conflicts, as well as economic problems at home, would prove to be serious obstacles as he tried to implement his foreign policy. In 1928, the US joined 62 other nations in signing the Kellogg - Briand Pact. This agreement declared the war could not be used "as an instrument of national policy." But it did not have any way to punish countries that broke their promise.1 Americans were greatly alarmed by the international conflicts of Roosevelt's presidency. But they generally believed that the United States should stay isolated from those conflicts. Isolationism in America grew steadily throughout the 1930s with many books offering claims that the US had been dragged into World War I by arms manufacturers and bankers at home, who wanted the chance to make a profit. A committee led by North Dakota Senator Gerald Nye found that banks and manufacturers had made large profits during the war, and public furor grew.2 After the horrible losses of World War I, Americans became staunchly determined to avoid going to war. Moreover, America had serious problems at home with... This growing isolationism had a huge impact on Roosevelt's foreign policy. Early in his presidency, he demonstrated his diplomatic ability by reaching out to the Soviet Union and continuing a policy of non-intervention in Latin America. He encouraged Congress to pass the Reciprocal Trade Agreement Act in 1934, lowering trade barriers and giving the president the power to make trade agreements with other nations.3 Beginning in 1935, in response to fighting in Spain and elsewhere, Congress created the Neutrality Acts, designed to outlaw arms sales or loans to countries at war. Although Congress worked hard to maintain neutrality, it soon became impossible to avoid the conflicts across the ocean. Roosevelt found creative ways to implement his foreign policy despite the wishes of Congress. In 1937, Japan launched a new attack on China. Roosevelt declared that, since Japan had not formally declared war against China, there was no need to enforce the Neutrality Acts. This allowed the US to support China by sending arms and supplies.4 Later that year, Roosevelt spoke in Chicago. In one of his best-known speeches, he called on nations of the world to quarantine or isolate aggressive nations like Japan and Germany to stop the spread of war. The quarantine speech declared that 10% of the nations of the world were threatening international chaos. He called for the remaining peace-loving nations to stand against them "to preserve peace."5 It looked like this speech would be the beginning of Roosevelt's stand against aggression. But isolationist newspapers lambasted him, causing him to retreat. Roosevelt, a shrewd politician, knew that any risky foreign policy decisions would jeopardize badly

Preparation of accounts and Essay Example | Topics and Well Written Essays - 1000 words

Preparation of accounts and - Essay Example Moreover, the division has attracted a type of consumers that seem to be a niche market, thus creating stable demand for the products Cost of sales has been assumed to follow a pattern from its previous performance. For the home decorating division, cost of sales was pegged at 70 percent, for the household goods at 60 percent, and for the DIY goods at 40 percent. Cost of operations for 2010 also followed the historical pattern based on 2009 and 2008 statements, and assumed the same percentage against gross sales of previous years. Given these assumptions, the gross operating income and the income before tax was derived and computed for the year 2010. Since it was assumed that there was no revaluation occurring in 2010, the net income after tax for Metropole was projected to be at  £193,000. This income, compared to that of 2009 and 2008, is quite better than expected, given the bleak global economic outlook. Since there is an expected economic slowdown, the forecast decreased in sales will leave a bigger inventory of merchandise. Thus compared to 2009, the inventory for 2010 will be higher by about 10 percent. Trade receivables, on the other hand, will suffer a bit since receivables may not be collected on time. As a matter of fact, to push sales and in an effort to curtail inventory from piling up, sales on account are projected to rise giving more trade receivables to account for 2010. Thus, trade receivables account for 2010 ended with 80 percent higher than the previous year 2009. What will save the day for Metropole during the economic downturn in 2010 will be the highly profitable and stable DIY stores. This division is expected to deliver the cash for the company. Thus, it is also forecast that an increase in cash account is expected, and some of them will be treated as short term savings deposit. Given the volatile nature of the economy, investments are forecast to be put on hold, as the company observes the direction

Marketing and Sales Essay Example | Topics and Well Written Essays - 5000 words - 1

Marketing and Sales - Essay Example These three concepts form the backbone of many successful marketing strategies. But, the fourth P-Place is often overlooked by most of the marketing experts and business men. Every product should actually be produced, priced and promoted according to the place it is distributed. The company should decide whether to implement large-scale distribution in the area or selective distribution, based on the economic, social and cultural influences of the place chosen. A company can choose to distribute a product in a place intestivley, selectively or exclusively. The pricing and promotional budget should be determined based on which type of distribution is selected for a particular place. The marketing concept changed phase from "make-and-sell" to "sense-and-respond" way back in the past century (Kotler, 2008). Only companies producing exclusive products catering to the needs of people living in certain places thrive. They distribute the products only where there is ample need. For example, consider the ‘Voltas all weather AC’ designed and marketed for people living in deserts exclusively. The AC keeps the room cool during the scorching mid-days and heats the rooms automatically during the biting cold nights. They are much affordable than the room heaters used in the western countries and is portable. They can be used even in tents. The product was a great hit and it surpassed several competitors in sales revenues this summer. Integration of Place and Pricing Place is directly connected with pricing. Consider Marks and Spencer an Tesco departmental stores. M &S aims in selling branded, high cost products in all its stores no matter where it is placed. Tesco sells small packets of local products at an affordable cost in rural areas. It sells branded and costly products in its urban stores . This simple place related pricing helped the company to grow enormously in a short period of time, challenging the decades old M&S in profits. "Differentiation stems fr om uniquely creating buyer value" (Porter, 1985, p 150). Tesco did just that. They created a difference by understanding the buyer value pertaining to the place. Relationship of Place with Pr

Strategy Essay Example | Topics and Well Written Essays - 250 words - 8

Strategy - Essay Example The organization had limited focus on the vision and mission statement and hence was not as effective. Regardless, below are some of the key points discussed by Kaplan and Norton that relate to the excellence of any given organization. Primarily, the main goal of a balanced scorecard is setting the organizational mission and vision statements. These vision and mission statements not only state the various aspects required in the organization but also guide the employees and the entire workforce towards a united goal. As such, the paper argues that the importance of the vision statement is to ensure that a given organization is performing at its best at all given times. A good vision is vital for the success of any given organization. Our organization had a great vision statement but a few employees within the organization only knew the statement. Finally, another key feature discussed in detail by the article is translating the vision. Assessing the progress made by the organization towards the attainment of the set vision is crucial to monitor progress. Consensus between management and the subordinates is crucial for the utmost success of the organization. This was a key feature of the balanced scorecard that was missing from my former organization. The vision was not a key focus of the organization, and the management mostly focused on short-term goals, which rather affected its efficiency greatly. Such additions to the organization structure are crucial for the success any organization in attaining its main

Business Law - Term Paper Example | Topics and Well Written Essays - 1750 words

Business Law - - Term Paper Example The basic premise of this Act is to maintain good competition in the business life of the corporates. Competition Act aims at regulating the competition and defeating the acts by people who have tried to thwart competition in their respective jurisdictions. It has aimed at attempting to draw a line in anti-competitive activities. The Act has been designed in order to pave a way for the extinguishment of anti-competitive activities. The Act had been at the centre of curbing anti-competitive practices which have been performed by the companies who have been trading on in the business circle. â€Å"Legislation enacted by the federal and various state governments to regulate trade and commerce by preventing unlawful restraints, price-fixing, and monopolies; to promote competition; and to encourage the production of quality goods and services at the lowest prices, with the primary goal of safeguarding public welfare by ensuring that consumer demands will be met by the manufacture and sale of goods at reasonable prices.† The new Act defines a ‘dominant position’ ; what constitutes an abuse of such a dominant position and how are they interrelated. As mentioned in the Competition Act, being of the nature of a dominant enterprise does not constitute to an anti-competitive practice, but the fact when such dominant undertakings misuses their power in the competition to restrict it or to have a negative impact on it amounts to an anti-competitive practice which is prohibited in the Indian competition laws. In the case of N. V. Netherlands Banden Industrie Michelin v. Commission of the European Communities , the question arose to the court as to whether or not an enterprise which is dominant in nature leads to the violation of competition laws prevalent in the EU. It was held that â€Å"an undertaking having a dominant position is not a recrimination but simply means that irrespective of the reasons for which it has such a dominant position,

Special Education Essay Example | Topics and Well Written Essays - 1500 words

Special Education - Essay Example Again, the paper looks at the modern technologies that are used in the elementary adult education. And lastly, controversial issues surrounding adult education are discussed. ADULT EDUCATION The main purpose of any form of education is to enlighten the learners and to equip them with the necessary skills and knowledge to overcome many life challenges. And since it is not possible to have knowledge of everything, education therefore is a lifelong process; we spend all our life learning, whether formally or informally (Lindeman, 1926). Education is one, therefore, in terms of its goals and aims. However, education can be classified in terms of the category of learners (age of the learners) who undertake it, and in this classification we have, early childhood education, elementary education, middle School education, High school education, and adult education. This paper deals with adult education, focusing specifically on elementary adult education. It investigates the historical develo pment of adult elementary education and the current legislation that shapes it, the paper goes on to discuss many other pertinent issues on adult education in the contemporary world. ... Adult elementary education has a long history. In formal setting, adult elementary education in Western world was pioneered by Reverend B Morgans, Vicar of Trelach near Monmouth in 1754 (Hudson, J. W., 1851). After realizing that many adults in his congregation could hardly read the scriptures, Rev. Morgans decided to do something for them. He therefore started special classes for the illiterate adults in his congregation. In these classes, the adults were taught elementary reading and writing skills. And to his surprise, as time went on, many more illiterate adults volunteered to join his classes. All the participants benefited greatly from the classes and from then henceforth, the programme of adult education continued in his parish. In 1811, Reverend T. Charles, B.A, established a school in Great Britain at Bala, in Merionethshire. This school was dedicated exclusively for the education of the adults. And just like Morgans school in Wales, some time back, the main intention of sta rting this school was to help the old illiterate members of the congregation to read the bible. Rev. Charles’s enterprise turned out to be a big success for many adults enrolled in his schools from all over Wales. The school became famous in Wales, and many more such Schools were opened in Wales to help many illiterate adults who had desire to read. And by 1813, there were adult schools established as far as in Bristol. These schools were started by the lay people and not the clergy men/women. From 1813- 1818, adult elementary schools spread all over European countries, and by around 1819, adult elementary schools had been established in the USA. Later, during the colonization period, the Europeans established elementary adult

Target Corporation Research Paper Example | Topics and Well Written Essays - 2000 words

Target Corporation - Research Paper Example Upon this foundation, Target is expanding its business operations internationally. It hopes to start retail chains in Canada by 2013. By moving across borders, Target will follow and provide competition for Wal-Mart. Consequently, it will continue to grow and fund additional projects such as expansion through acquisitions. The success of Target is largely attributable to the culture of the organization, which stresses honesty and community (Rowley 145). In this examination of Target Corporation, we hope to accomplish a comprehensive look at the company’s history, financials, capital, reputation, marketing, and future. This all-inclusive view of the company can thus be evaluated in terms of how Target would like to perceive and how the public actually sees Target Corporation as an asset (or a liability) in their communities. Human Capital Target Corporation employs roughly 355,000 employees throughout the United States, who take part in a variety of operational functions such as managing stores, marketing, and customer service (SEC). Employees at Target are generally happy; however, there is some criticism of compensation and benefit packages offered by the company. For instance, it is alleged by labor groups and current employees that Target, based out of Minneapolis, pays less in some cases than their competitor Wal-Mart. does According to a recent survey by UFCW, Target pays entry-level positions a salary of about $6.25 per hour to $8 per hour, depending on qualifications (Serres). This is below- or at-the-market in terms of large retail chains. Therefore, even though Wal-Mart is often the subject of criticisms and community rejection, it seems that Target has a similar pay scheme for low-level employees to their competitor. In terms of benefits, union groups see Target as less equitable than its competitors do. In the early 2000s, Target dropped all health care insurance coverage for part-time workers, while Wal-Mart has maintained its medical plan available to all workers (Serres). However, many employees still agree that it is a better place to work than some other large retail chains, despite the weaknesses in the health care insurance pr ogram. Target’s benefits packages rate high in terms of flexibility for higher-level employees. The 401(k) plans offered by Target considered some of the best in the industry insofar as it matches dollar for dollar up to five percent of contributions made by employees. In addition, Target offers many other programs including the â€Å"Take Charge of Education† program that allows Target credit-card holders to donate 1 percent a year of their purchases to a school of their choice. This is in line with Target’s explicit commitment to the value of family (Rowley 146). Union Involvement Target Corporation is like Wal-Mart in the fact that they are not unionized. In fact, Target sees unionization as a potential threat to their corporate success (Rowley 141). For that reason, the company has published anti-video literature and videos in order to warn their employees about the dangers of a union. Deborah Weinswig, an analyst with Salomon Smith Barney, said that,  "Target is not a union, so it can charge lower prices than other food retailers. In the Northeast, SuperTargets have done extremely well† (Rowley 174). This lends credence to the view that Target would be negatively affected by a unionization of its employees. These efforts were increased in 2009 in response to

Alexander The Great as a Military Leader Essay Example | Topics and Well Written Essays - 1000 words

Alexander The Great as a Military Leader - Essay Example He was trained in rhetoric, literature, philosophy, science and was groomed into a knowledgeable person. His sheer military genius was exhibited when he was merely 18 years of age, when he helped win the Battle of Chaeronea. This was just the beginning of a long innings. When Alexander was around twenty years of age, his father, King Philip II was assassinated. Following this tragic event, Alexander ascended the throne in 336 B.C. The situation in Macedonia was not really conducive, since he was surrounded by enemies and there was a threat of internal strife; while foreign relations were not good either, due to which there was the threat of rebellion. In this complex situation, Alexander took the reigns of his kingdom in this hands and took severe steps to do away with the rebellion. He ordered the execution of all those who were against him and quickly disposed the conspirators and rebels. The domestic enemies, were thus steered clear of. "He promptly took Thessaly and Thrace; he brutally razed Thebes except for its temples and the house of Pindar." 1 Carrying forward his father's mission, Alexander carried out an attack on the Thracians and also defeated the Illyrians with an iron hand. He also moved on the Thebes, which had revolted against him. He only spared the house of Pindar and the temple of Gods. He also sold the surviving inhabitants into slavery. Due to his power and valour, the other Greek states submitted meekly and Alexander became the conqueror of Greece. Thus, Alexander restored his dominant position in Greece. "He was elected by a congress of states at Corinth."2. Two years ago, after establishing a strong hold in Greece, Alexander decided to move towards Persia, in 334 B.C. He crossed the Hellespont and near the city of Troy, Alexander fought the Persians. The battle gave way to a massive victory for the Macedonians. Consequently, the res of the states in Asia Minor gave way and submitted to the great king. As the legend goes, it is said that "he cut the Gordian knot in Phyrgia (333), by which act he was destined to rule Asia."3 This knot, he is said to have broken with his sword. Alexander began to move towards the south and met the Persian army led by Darius III. This took place at Issus, in northeastern Syria. The battle was fought with a huge army from Darius' end. His army ended up losing the battle and Darius fled, leaving behind his family. However, his family was treated with respect by Alexander. The next expedition was at the Tyre, which was a seaport. The port was strongly fortified and offered strong opposition. However, Alexander defeated the port as well, in 332 B.C after seven months. He then moved on to Gaza and defeated them. "In the spring of 331 BC, Alexander made a pilgrimage to the great temple andoracle of Amon-Ra, whom

Article summary Essay Example | Topics and Well Written Essays - 500 words

Article summary - Essay Example This quote directly fits in with the overall theme of how people, for example in China, seek to step aside from having conversations directly when it comes to the discussion of sexual issues in nature. One of the reasons in many ways can be seen as a lack of communication between parents and children on this issue. There is a very strong cultural/society influence on how such issues are looked at and talked about. Towards the middle of the article, Ford mentions the level that China had stepped towards adopting a more Western approach to how they go about doing things. A fear among some parents that if the children were to have knowledge about sexual issues, that would enable them to take part in the issue. Making light of the ratings system that the United States has, Ford addresses the Chinese approach to having one. Yin Hong, a deputy head of Tsinghua University's Journalism School is quoted in the article when he says, "The time is not ripe for China to institute a ratings system," says Yin Hong, a film critic and deputy head of Tsinghua University's Journalism School," (Ford, 2/2/07). Many of the points which Peter Ford mentions in his article are very important to understanding the bigger story.

PIETER HUGO EXHIBITION Essay Example | Topics and Well Written Essays - 500 words

PIETER HUGO EXHIBITION - Essay Example His photo exhibition at the Henri Cartier Bresson Exposition was brilliant and breathe taking. The primary reason I liked these photos is because they always have stories behind them. The exhibition showcased Hugo’s latest series Kan. Hugo stated that this series illustrates the failure of colonialism in his South African homeland. As such, the pictures represent issues of racial diversity, economic disparity and colonization in South Africa. Although these topics and subjects are often complex to decipher, Hugo tackles them from an artistic point of view. 2The clichà © â€Å"a picture speaks a thousand words† best describes Hugo works at the Henri Cartier Bresson Exposition. The photographs cover subjects and topics which in most instances are personally significant to the artist such as contested farmlands, important political sites and cramped townships. Also, some of the photographs at the exhibition capture people in their homes, the homeless and drifters. Further, Hugo captures intimate moments showing his pregnant wife, their domestic servant and his child after being born. Thus, the photographs alternate between the public and private space s to present a clear narrative. Mostly, Hugo’s photographs at the Henri Cartier Bresson Exposition focus on the growing economic disparity between people who are often rich and the poor. Thus, Hugo focuses mostly on the dark side of his homeland and subsequently offers a personal exploration and depiction of the complex issues affecting his country South Africa. South Africa as a country is plagued with a widening gap between the rich and the poor. Additionally, the nation is struggling to come to terms with its apartheid past. To reiterate and illustrate these topics (economic disparity, colonization, modernity and apartheid) clearly and extensively, Hugo includes them in each and every photograph. For instance, there is a photograph depicting a homosexual couple which has been

Critically discuss the application of traditional rules of offer and Essay

Critically discuss the application of traditional rules of offer and acceptance in English contract law in the context of (i) standard term contracts; and (ii) electronic communications - Essay Example Offer is referred to as an expression of desire to contract on specific terms which are made intentionally to become a binding after the person to whom it was addressed accepts it. It can also be defined as the statement of terms that the offeror is ready to be bound with. Acceptance requires that both parties should have engaged in conduct that manifests their assent in subjective perspective. The traditional approach that is applied in contract law is involves analyzing contract formation in terms of one party doing an offer and the other one accepting the offer. It has been argued by some scholars that not all contracts are analyzed in terms of offer and acceptance. They instead argue that one should focus on correspondence and the parties conduct as well as the parties’ terms of agreement Contracts which can not be analyzed in this perspective of offer and acceptance are said to be exceptional (Hedley, 230). Some critics have argued that the principles of offer and acceptance have a marginal relevance in business conduction. Different rules that are related to contract formation appear inform technical and schematic contract law. Practically, the law can adopt a fair and flexible pragmatic approach. Although most contracts are made using the offer and acceptance process, some agreements cannot be explained fully using the traditional approach. There are cases th at may proof hard to reconcile using the traditional approach and they include contract not resulting from parties’ agreement. The court may imply a contract in the bases of public policy or on the bases of expediency which makes it difficult to analyze. Generally contractual terms are settled using two methods that is by express negotiation and standard terms. English law when contrasted with other legal systems uses the analysis traditional offer and acceptance in cases of standard

Monotheistic Religions in the Media Essay Example | Topics and Well Written Essays - 1000 words

Monotheistic Religions in the Media - Essay Example Even as our perception of these religions is long-entrenched through insights gleamed from an early age, in a small degree the news media can continue to shape perception through the ways they structure culture and religion. This essay considers three such means of structuring religion through an analysis of articles on Islam, Judaism, and Christianity. In considering one way the media develops and implements a perspective on religion, an article from the Los Angeles Times is considered. The article ‘Islamists in Egypt seek change through politics’ presents a number of interesting perspectives on the nature of Islam. The article is indicating is interesting in that it considers the nature of radical Islam, yet contrasts it with a reimagined perspective that demonstrates some of the religion’s positive elements. In these regards, it considers former rebel Nageh Ibrahim who at one time had expressed a desire to create a large-scale Islamic state through blood-shed, who is now living in a high rise and, â€Å"has the soothing voice of a man who could lead a 12-step program on rejecting radicalism† (Fleishman 2010). The article indicates that the group Ibrahim headed at one point committed considerable acts of terror and violence in an effort to achieve these ends for the Islamic state. Within these regards, he is known to take contributed to the assassination of President Anwar Sadat, and the massacre at Luxor temple that contributed to the death of sixty-two people. After being imprisoned for twenty-four years, Ibrahim is demonstrated to have changed his radical stance. The article uses the story of Ibrahim’s life as a sort of metaphor on the nature of the changing nature of Islamic politics. In regards to Egypt, this philosophical slant is akin to a shift from Malcolm X like means of enacting change to Martin Luther King Jr’s stance of non-violent exchange. Ibrahim states, â€Å"Over the years†¦it became apparent th at violence harmed us and the image of Islam. The state could always hit us back harder than we could hit them† (Fleishman 2010). While the article indicates that radicalism is still occurring, the general consensus in terms of Egyptian politics is that this more political and less violent approach is the means towards significant change. In terms of a broader framing of Islam, the article presents a complex picture of the religion as embodying a variety of polls of political action – both extremism and modernism. The next article, ‘Rapper Finds Order in Orthodox Judaism in Israel,’ analyzed is from the New York Times and it considers the nature of rapper that has turned to Judaism. This is an intriguing investigation of Judaism as it challenges traditional assumptions of Jewish individuals as being of a certain ethnic class. In addition, the juxtaposition with rap also constitutes a clashing of socioeconomic classes that are generally separate aspects with in American society. The rapper in the article is Shyne, a protege of famed rap producer Puff Daddy. An interesting sidenote, Shyne served nine years in prison for opening fire at a club. Despite being raised as a troubled street hood in Brooklyn, Shyne states, â€Å"My entire life screams that I have a Jewish neshama,† he said, using the Hebrew word for soul† (Kraft 2010). This is an interesting presentation of the Jewish religion. While soul and street legitimacy have oftentimes been conclaves of African American art and culture, Shyne has made an interesting connection between these aspects and those of the Jewish religion. The article indicates that Shyne discovered Judaism during his time in prison, although he had been intrigued by Old Testament stories since an early age. While this article may constitute an outlier of

Role of Social Networking Sites in the Lives of Contemporary Youth Essay

Role of Social Networking Sites in the Lives of Contemporary Youth - Essay Example As the report declares social networking sites are web-based software that allows people to create their profiles and add other individuals with whom they would wish to connect, share, and chat with especially in exchanging updates. Their main agenda is to promote socializing among individuals irrespective of their geographical and socio-cultural differences. In this age, children live in a mediated world where advanced technology forms the surrounding that allows them to gain access to the free flow of information and social network through sharing. This paper stresses that the introduction of social media has indeed changed many things in the ways people, especially children, relate to one another in that it has accentuated the socialization of children through a virtual platform. The social media in itself is a unique cultural system that has the ability to transform the already existing cultures especially in young children who are eager to learn new ideas without due consideration of their pros and cons. In the modern society, children including those less than sixteen years of age have fully embraced the use of major social networking sites such as Facebook and Twitter in promoting their social agenda that varies from child to child. The main function of media is to inform, entertain, and educate, hence children undergo constant transformation in their cultures based on the prevailing trends in the social media, as most children, if not duly guided, do not have the capacity to filter social media content and only ingest the most useful ones. (Carmen 55). More often than not, contemporary children who are preoccupied by social networking sites, mainly Facebook and Twitter, tend to adopt new cultures as they interact with colleagues and individuals from multicultural backgrounds. Culture plays an important role in shaping the behaviors and character of children and therefore any external information that has cultural inclination deserves a meticulous approach (Doctorow,

Women Empowerment Essay Example for Free

Women Empowerment Essay When women are the advisor, the Lords of creation dont take the advice till they have persuaded themselves that it is just what they intended to do; then they act upon it and if it succeeds, they give the weaker vessel half the credit of it; if fails, they generously give herself the whole.- Louisa May Alcott Gender equality is, first and foremost, a human right. A woman is entitled to live in dignity and in freedom from want and from fear. Empowering women is also an indispensable tool foradvancing development and reducing poverty. Empowered women contribute to the health and productivity of whole families and communities and to improved prospects for the next generation. Yet discrimination against women and girls including gender-based violence, economic discrimination, reproductive health inequities, and harmful traditional practices remains the most pervasive and persistent form of inequality and also decrease in child sex ratio. Women and girls bear enormous hardship during and after humanitarian emergencies, especially armed conflicts. They usually have less access than men to medical care, property ownership, credit, training and employment. They are far less likely than men to be politically active and far more likely to be victims of domestic violence. The ability of women to control their own fertility is absolutely fundamental to women’s empowerment and equality. Gender equality implies a society in which women and men enjoy the same opportunities, outcomes, rights and obligations in all spheres of life. Now let us come to our country, India today is at the cusp of a paradigm change in its growth and its position in the world. We (both men and women) must act decisively to capture this opportunity. We need to think big and scale up rapidly in each and every area, be it education, infrastructure, industry, financial services or equality of both genders. For around two centuries, social reformers and missionaries in India have endeavored to bring women out of confines in which centuries of traditions had kept them. According to the 2001 Census, the percentage of female literacy in the country is 54% up from 9% 1951. But we should not forget that history in a witness to the women who have in the past demonstrated unique leadership capabilities. Razia Sultana, Rani of Jhansi, Sarojini Naidu and Indira Gandhi are motivation examples of women empowerment. Earlier, most women were able to demonstrate the leadership qualities only on their home fronts, as in Indian society man has always acted as the master of the scene and the decision regarding the issue of empowering women has always been taken by him. God has gifted women with compassion, tender-heartedness, caring nature, concern for others. These are very positive signs which imply that women can be leaders. Though some women have shown their mettle yet a large number of them have to sharpen their leadership qualities in various ways. In order to help women to be in limelight, they need to be empowered. Therefore, empowerment of women is the prerequisite to transform a developing country into a developed country. empowerment has multiple, interrelated and interdependent dimensions economic, social, cultural and political. It can be understood in relation to resources, perceptions. relationship and power. Women empowerment generally has five components : firstly, womens sense of self worth; secondly, their right to have the power of control their own lives, both within and outside home; and lastly, their ability to influence the direction of social change to create a just social and economic order nationally, internationally and universally. Educational attainment and economic participation are they key constituents in ensuring the empowerment of women. Educational attainment is essential for empowering women in all spheres of society, for without education of comparable quality and content given to boys and men, updated with existing knowledge and relevant to current needs, women will be able to have access to well-paid formal sector jobs and advance with men. The economic empowerment of women is a vital element of strong economic growth in any country. Empowering women enhances their ability to influence changes and to create a better society. Other than educational and economic empowerment, changes in womens mobility and social interaction and changes in intra-household decision-making are necessary. Slight improvement in womens involvement in household decision-making in male-headed household, on such issues as credit, the disposal of household assets, childrens education and family healthcare can work wonders. Traditionally, gender based divisions persisted in intra-household decision-making. Women basically decide on food preparation and men make the financial decision. Women are one of the greatest assets in our society. They equal to men in all aspects. Women are more perfectionist in the power to create, nurture and transform. Today, women are emerging as leaders in growing range of fields. be it aeronautics, medicine, space, engineering, law, politics, education, businessyou just name the profession and they are there, all that needed in todays world in their empowerment. In India, the empowerment process has already begun. scholarship programmes aimed to bridge gender gap in education should take into consideration the context in which it is implemented, the actual needs of the people it wants to help, without overlooking external socio-economic, political, cultural and infrastructural factors with potential influence on the effective presence and success of girls in school. We are now witnessing a steady improvement in the enrollment of women in schools, colleges and even in profession institutes. Their health is better as compared to earlier decades. In this decade, women are entering into the job market in increasing numbers. They are showing their skills even in non-traditional sectors like police, defence, administration, media and research fields. Twenty-six laws have been enacted so far to protect women from various crimes. The recent law on the protection of women against domestic violence satisfies the long pending demand of the women activities. In the political field, the reservation for women is a significant step forward towards their political empowerment. When thirty-three percent reservation for women in Parliament becomes a reality, womens voice will be heard in the highest forum of democracy. The day, women of India will reach zenith in their empowerment. But a lot of work has to be done as there is a category of women (who consider themselves highly educated) that proudly accepts that they dont have digital literacy even though they own a computer, they cannot even operate bank accounts or make travel arrangements for family or handle hospital admissions even during emergencies. Even for a simple task like social visits or shopping generally they need the company of their husbands. Some qualities to be acquired by women to become truly empowered are awareness about risk prevailing at home, in work place, in traveling and staying outside home. They should have political, legal, economic and health awareness. They should have knowledge about support groups and positive attitudes towards life. They should get goals for future and strive to achieve them with courage. The best gift parents today can give to their daughters is education. If women choose to be ignorant then all the efforts taken by the Government and women activists will go in vain. Even in twenty-fifth century, they will remain backward and will be paying a heavy price for their dependence, So, it is a wake-up call for women to awake from their deep slumber and understand the true meaning of their empowerment. In the end I would like to conclude with the following words, Women as the motherhood of the nation should be strong, aware and alert.

Liabilities of a Director Essay Example for Free

Liabilities of a Director Essay A company is usually established by individuals or Directors (officers included) in this case so as to run it in appropriate manner in order to make maximum profits. For this to happen, it is for the company (Pandora Diamonds and Gems Pty Ltd in our case) to enter or make contracts with outsiders like Kaplan Bank Ltd and Space Solutions Pty Ltd as far as our case is concerned. The contracts made by the company with other outsiders are usually done by Directors who are, most often than not, act as representatives of that mentioned company and be able to be liable by the acts of its Directors as stated in s126. Directors acting on behalf of the company during any contracts are usually in a crucial position of trust within that company, and therefore, the vast array of legal duties will stretch out on their shoulders for holding that position. Due to this hot position, it is easier than not, for their powers to be abused in different ways. Directors have been known to abuse their powers in office for their personal gain. For example, Directors have been held liable for inappropriately using company’s funds in making their personal secret profits. In such cases, the corporate law comes into play (the Common Law and the Corporations Act 2001 (Cth)) and Directors or any other officer who recklessly breach specific duties and obligations should be prosecuted in the court of law. So for the purpose of liability, the common law and the Corporations Act 2001 (Cth) have been laid down so as to minimize the risk of wrongful behaviors by company’s Directors. In this paper, I will discuss the responsibilities, liabilities and duties of a director(s) in a company and give examples how Directors of various companies have been accounted or held responsible for infringing Corporations Act 2001 (Cth) laws. Directors’ Duties Since companies are usually established and managed by directors and a number of officers, these directors have that ostensible authority, collectively, to represent that mentioned company and not as an individual Director. As I am going to talk about it below, some individual directors (Andrew and Brian in this case) have been known to enter in to some kind of contract with outsiders (other companies) and not collectively as board of directors, as allowed under s201J and s198D of the Corporations Act 2001 (Cth). Directors, in most cases, have contravened these sections of the Act because they have their own material personal interests outside the company and have disowned their â€Å"duty to act honestly and in good faith to the best interest of the company† as per Part 2D.1 of the Corporations Act 2001 (Cth). Directors can only avoid the civil or criminal penalties for breaching the Corporations Act 2001 (Cth) only if they fully understand their liabilities and duties (Sieve rs, 1997 and Cassidy, 2006). Some of Corporations Acts laws, which directors need to be watchful for, in order to avoid contravening Corporations Act laws, are and not limited to: 1. Act in good faith and honest for the best interest of the company. 2. By considering company’s interests ahead of their own. 3. Avoiding conflicts of duty and interest. 4. Duty to avoid insolvent trading by the company 1. Duty to act honestly and in good faith to the best interest of the company As far as s181 of Corporations Acts 2001 (Cth) is concerned, any director including Andrew and Brian in our case, have to act â€Å"in good faith and in the best interest of the company (Pandora Diamonds and Gems Pty Ltd)† (see Darval v North Sydney Brick and Tile Co (1988) 6 ACLC 154) and not for their personal intentional purposes. In our case, before resigning, Brian set up his own jewellery business so that he can engage in a lucrative business of supplying jewellery to his new friend Victor after resigning from Pandora Diamonds and Gems Pty Ltd. Brian, under Corporations Act 2001 (Cth) s.184, may have infringed the statutory duties that are found in ss.181-183, and therefore liable for civil or criminal penalties as per Corporations Act laws (Sievers, 1997 and Cassidy, 2006). 2. Duty not to improperly use the position of a director to gain any personal benefits As contained in s182 of the Corporations Act 2001 (Cth), directors must demonstrate their powers for the required purposes so that companies like Pandora Diamonds and Gems Pty Ltd for example can benefit and those directors who violate s180 of the Corporations Act law Sbe penalized or disqualified in the court of law as was illustrated in the case of Mills v. Mills (1938) 60 CLR 150 (Cassidy, 2006). In our case, the exercise of power by Brian to secure some personal advantage by starting his own jewellery business, is considered as an ‘improper purpose’ because it is not within the purpose of benefiting Pandora Diamonds and Gems Pty Ltd, but to himself (see Mills v. Mills (1938) 60 CLR 150, Biala Pty Ltd v. Uallina Holdings (No 2) (1993) and ASIC v. Adler (2002)). Eventually, Brian will be responsible for any financial benefit he might have received as the head of Pandora Diamonds and Gems Pty Ltd (see Queensland mine Ltd v Hudson (1978) 18 ALR 1) (Cassidy, 2006, p. 251). 3. Avoiding conflicts of duty and interest. The conflict of interest is a matter for all board of directors that does not only affect specific directors in the company. According to section 182 and 183 of the Corporations Act, any misuse of director’s position just for the disadvantage of the company and for the benefit of the director is generally forbidden by the law (see Aberdeen Railway Co. v. Blaikie Bros (1854). If some sections like s191 to s195 of the Corporation Act is analyzed further, it details some important rules on how Directors (Brian included) are supposed to disclose or declare to the board of directors, if there is any personal interest that is related to the affairs of the company. This is required so as to ensure that the honesty and integrity of directors are thoroughly observed (Cassidy, 2006). As far as our case is concerned, Brian may have violated s181 of the Corporations Act, for he did not declare or disclose to the board of directors that he has some interest of starting is own business as required under s191 (3) and he may be prosecuted in the court of law for not declaring his interest. 4. Duty to prevent insolvent trading by the company Corporate regulators have tried many means to make sure that there are no companies that can trade while insolvent by imposing higher level of liability on directors. As per s588G of the Corporations Act, civil penalties and personal liability on directors have been imposed on them if in case a company incur a debt and is declared insolvent. An example of a case where directors were liable for the company’s insolvency was that of Commonwealth Bank of Australia v Friedrich. Here, Maxwell Eise who was a director was fined millions of dollars for causing the company to undergo insolvency. The court argued that Maxwell Eise (Brian and Andrew in our case) had breached s588G of the Corporations Act and was liable for debts incurred by the company because his failure to prevent it. If in case directors of companies like Pandora Diamonds and Gems Pty Ltd have acted criminally and believed to be dishonest, in which may harm the company because of their self personal advantage, ASIC with the assistance of Australian Federal Police, criminal investigation can be conducted and tough procedures has to be followed when collecting evidence that will be use to determined as to whether a prosecution should go a head. And if the case is found to be more serious, it will be handled with the Commonwealth Director of Public Prosecution; otherwise the lower courts will deal with these kinds of cases. All in all, directors should carefully study, understand and appreciate their duties and responsibilities that they are subject to as company bosses. Being a director of a company is not an easy task because there are several fiduciary duties that need to be adhered to.

Hypo Group Alpe Adria Analysis

Hypo Group Alpe Adria Analysis 1. General information about Hypo Group Alpe Adria Hypo Group Alpe Adria is an international financial group with more than 380 banking and leasing locations in twelve European countries: Austria, Italy, Slovenia, Croatia, Bosnia-Herzegovina, Serbia, Montenegro, Germany, Hungary, Bulgaria, Macedonia and the Ukraine. The group has a rich historical background. Roots of Hypo Group Alpe Adria date way back in 1896 when the group was founded. Consequently, it has accumulated more than one hundred years of business experience. In the beginning of its activities, it concentrated on financing public institutions and housing construction. Hypo KÃ ¤rnten as it was then known became a universal bank in 1982. In 1988 the Bank took the first step on the road to international expansion by opening a leasing subsidiary in Udine, Italy. It became a public limited company in 1991, and in 1992 Grazer Wechselseitige Versicherung joined the Province of Carinthia as the second shareholder. This marked the beginning of a new era for Hypo Alpe-Adria-Bank. With cross-border activities in twelve countries of the Alps Adriatic region[1], the Hypo Group Alpe Adria has a unique position in the economic area constituted by South Eastern Europe. Its network of branches and offices exists in Austria, Italy and Germany, from Slovenia through Croatia, Bosnia-Herzegovina, Serbia, Montenegro, Macedonia, Hungary, Bulgaria and the Ukraine. Business priorities in the operations of Hypo Group Alpe Adria are the strategic business sectors banking and leasing, with the focus on a common goal: contribution to the prosperity of the Alps Adriatic region and of the people living in it. Hypo Group Alpe Adria is committed to pursuing its goal of becoming the leading commercial bank in the Alps Adriatic region. 1.2. Mission and Strategy The mission of the Group is the following: instead of pursuing global presence as a goal, Hypo Group Alpe Adria is more locally oriented. In the Alps to Adriatic region, with its cross-border markets, it is local market knowledge at a very personal and emotional level, which is crucial. Personal contact with the customers represents the basis of mutual trust for the Group. For this reason the Group sees its relationships as partnerships, which extend far beyond simple money issues. According to the Group, success can only be achieved through human contacts, and it can only be measured in terms of personal relationships, so that partnership at a personal level is the Groups ultimate ideal. Hypo Group Alpe Adria leaves the goal of worldwide presence to the global players. As a leading regional player in the Alps to Adriatic area, it concentrates on the southeastern markets, with the motto banking business is peoples business, confirming its nonnegotiable customer orientation. Respecting differences, growing together and sharing successes with others these are the cornerstones of partnerships with customers on which the business structures of the Group are based. Having in mind that the fundamental strategy of the Group is to achieve growth in the Alps to Adriatic region, Hypo Group Alpe Adria has been pursuing its visionary strategy since 1993 with great success: to establish and develop a strong financial services Group in the Alps to Adriatic region which combines the highly developed Northern Italian, Germany and Austrian business cultures with growth market opportunities in Hungary, Slovenia, Croatia, Bosnia Herzegovina, Serbia, Montenegro, Bulgaria, Macedonia and the Ukraine. As a result, the Group plays a key role in directing funds and economic development to and in the region. Up till now, its successful expansion has given Hypo Group Alpe Adria intensive coverage of the areas, which in coming years will become its home markets. Additionally, long term involvement and commitment are priorities of the Group. Hypo Group Alpe Adria has established itself as a strong and reliable business partner in the Alps to Adriatic region. Its involvement in each country represents a long term commitment, so that businesses operating in any of these countries have the certainty and security they need in order to develop their activities. The Group is actively involved in developing local economies, and consequently, this contributes to the foundations of local prosperity. Furthermore, preserving independence and regional identity is one of the cornerstones of the Groups philosophy. This fact gives customers and business partners the certainty that they are handling their business with a dynamic and internationally minded bank which at the same time is at home in each of the individual regions. Hypo Group Alpe Adria is close to its customers in all the countries it operates in, thanks to its emphasis on independence and un-bureaucratic decentralized structures. 1.4. Regional presence of Hypo Group Alpe Adria It is important to underline that the expansion of Hypo Group Alpe Adria into its core market, the Alps to Adriatic Region, followed gradually. The establishment of the first Austrian bank branch in Vicenza (Italy), under EU law followed with Austrias accession to the EU in 1995. In the same year leasing companies were established in Ljubljana (Slovenia) and Zagreb (Croatia). In the upcoming years further leasing outlets were opened in Slovenia and the expansion of the branch network in Italy and Croatia. In 1997 the number of staff at Hypo Group Alpe Adria went over the barrier of five hundred employees, accompanied by the start of construction of the present Klagenfurt (Austria) headquarters, which was completed in three phases by 2002. By the beginning of the new millennium, Hypo Group Alpe Adria already employed over one thousand people. In the following year it entered the market in Bosnia and Herzegovina. In 2002, Hypo Group Alpe Adrias expansion penetrated into the market of Serbia and Montenegro. The Groups dynamic progress continued in 2003, when it was announced as investor of the year in Bosnia and Herzegovina, opened a leasing branch in Munich (Germany), founded the Biogaspark Alpe Adria and launched tourism initiatives in Carinthia (Austria), starting the Schlosshotel Velden project. Hypo Group Alpe Adria is today active in Austria, Italy, Croatia, Slovenia, Bosnia and Herzegovina, Serbia, Montenegro, Germany, Hungary, Bulgaria, Macedonia and Ukraine. In 2005 it numbered approximately 5000 employees at over 250 locations. The year of 2006 has been extremely important for the Group and it conducted strategically important expenditure decisions. It founded Hypo Alpe Adria Bank a.d. in Podgorica (Montenegro), Hypo Alpe-Adria-Rent d.o.o. in Belgrade (Serbia) and Hypo Alpe-Adria-Leasing OOD in Sofia (Bulgaria). The principal company of Hypo Group Alpe Adria is Hypo Alpe Adria Bank International AG, which has its head office in Klagenfurt (Austria). Its owners are BayernLB (67.08%), the GRAWE group (20.48%), KÃ ¤rntner Landesholding (12.42%) and Hypo Alpe Adria Mitarbeiter Privatstiftung (0.02%). The network of Hypo Group Alpe Adria currently has around 7,500 employees serving more than 1.3 million consumers. 2. Hypo Group Alpe Adria in Serbia Hypo Group Alpe Adria conducts its business activities in Serbia from 2002, as a part of the Hypo Alpe Adria Bank International AG Klagenfurt, which originally operated only in the territory of Austria. In the past couple of years, the Group began with its dynamic expansion in the international market, which consequently resulted in great success: the Group became one of the most successful financial institutions in the Alps Adriatic region, with approximately 7500 employees and more than 1.3 million clients in twelve countries. When we arrived to the Serbian market, we made a thorough analysis of finance, economy and legal sector, as well as the political situation of the country, based on which we have determined that Serbia will become one of the most important countries in our network. Serbia has enormous potential and we plan to invest in this country in the future and to become one of the leading financial institutions of the country. (Markus Ferstl, former Chairman of the Management Board of the Hypo Alpe Adria Bank a.d. Beograd) Having in mind that Hypo Group Alpe Adria`s strategic business sectors are banking and leasing, the Serbian market was firstly penetrated in the leasing sector. Leasing represents a relatively new form of financing in the Serbian market. Therefore, a leasing company bearing the name Hypo Alpe Adria Leasing d.o.o., was established in 2002, and it gained a leading position from the very beginning of its activities. The company remained the leader till present time with a cumulative market share of 35.19% in all segments of financing. Hypo Alpe Adria Leasing d.o.o. Beograd currently employs 136 people in affiliating offices throughout Serbia, including Belgrade, Novi Sad, Cacak, NiÃ… ¡, Subotica, Sombor, Zrenjanin, Becej, VrÃ… ¡c, Ã…  abac, Kragujevac and KruÃ… ¡evac. Additionally, not long after the establishment of Hypo Alpe Adria Leasing d.o.o. in Serbia, the bank by the name Hypo Alpe Adria Bank a.d. Beograd was founded in 2002. In just eight moths of business operations in Serbia, the newly founded bank achieved a growth rate of 853%, which exceeded all expectations. Hypo Alpe Adria Bank a.d. Beograd is currently one of the top five financial institutions in Serbia, with a market share of 8.55% and first-class and diversified portfolios. Additionally, it employs more than 800 people and has developed a rich business network consisting of affiliates in almost all bigger cities in Serbia, taking into consideration the headquarters of the company located in Belgrade, in the Business Center Usce where the other member companies of the Group are located[2]. Hypo Alpe Adria Securities a.d. Beograd was founded in 2004. The company is ranked among the top five broker companies in the market of shares and of old savings bonds trading. The youngest company of the Group is Hypo Alpe Adria Rent d.o.o. Beograd, which is the first financial institution in Serbia to offer the possibility of operational leasing for the clients. During the present research, special focus will be on the bank and the leasing company operating in within the system of Hypo Alpe Adria Group. 3. Hypo Alpe Adria Bank a.d. Beograd In order to proceed with the research on Hypo Alpe Adria Bank a.d. Beograd, it is necessary to explain the circumstances in which the banking sector in Serbia existed from 1990s till present time. Disintegration and collapse of socialist Yugoslavia in the beginning of the 1990s announced the so-called lost decade, meaning that major structural features and weaknesses of the banking system were preserved or additionally deteriorated and the overall situation became desperate. The main characteristics of 1990s were losses of markets, repeated wars, economic sanctions and international isolation of the country. Mismanagement and pervasive corruption were main factors, which contributed to the degeneration of the economy. After the major hyperinflation, which occurred in 1993 and 1994, 90 % of all bank loans were perceived as bad. Unprofitable and non-performing foreign currency balance sub-balances dominated balance sheets. One of the main priorities in the reform agenda of the new Serbian authorities, which took over in 2000 was bank restructuring. The essence of the strategy was to undertake bank rehabilitation and re-capitalization only in the cases when it was expected that the banks could be viable institutions with good prospects for privatization through sale to strategic investor at a reasonable price and only if it can be implemented with identifiable fiscal resources. In the beginning of 2002, Serbian authorities decided to conduct one of the boldest bank resolution measures undertaken in transition economies: they liquidated four large and deeply insolvent banks, which accounted for 60% of the book value of the sectors asset and for about two thirds of outstanding commercial credit to non financial sector. Furthermore, banking legislation and regulations were improved[3]. After the first major wave of reform, credit institutions have become more attentive in lending money to the real sector which was still very week. The government immediately acted on attracting foreign investors since there was an urgent need for such a thing. Consequently, from the late 2000 to December 2002, National Bank of Yugoslavia (the central bank) issued eight bank licenses, out of which seven were for the foreign owned banks. Internationalization and privatization of the Serbian banking industry continued in 2005. The share of the market accounted for by foreign banks rose to 67.52%. Out of the ten largest banks, seven are foreign. Successful sales of Serbian banks to foreign financial institutions provided a vigorous stimulus to the countrys banking industry. Total assets of all banks in 2005 jumped by 40.4% compared with the previous year, to 9.07 billion euros. Strong increases in lending to private and business customers were the main forces, which were driving growth. Progress was also made in restoring the confidence of domestic savers: total deposits at the end of 2005 amounted to 5 billion euros. Foreign banks which penetrated the Serbian market played an important role in restoring confidence in the sector and have gathered a significant share of new deposits. One of these banks was Hypo Alpe Adria Bank a.d. Beograd. Hypo Alpe-Adria Banks involvement in the Serbian market began in December 2002, when it acquired Depozitno-kreditna banka. The Austrian bank concluded the purchase of 86.6% of the Serbian Depozitno-Kreditna Banka, founded May 22nd 1991, whose registered offices were in Belgrade. At the shareholders meeting held on October 8th 2002, the Banks name was changed to Hypo Alpe-Adria-Bank a.d., the capital increase to EUR 5.5 million was resolved, and the new Supervisory Board was appointed. The headquarters of to Hypo Alpe-Adria-Bank a.d., the member of the Hypo Group (after Austria, Italy, Slovenia, Croatia, Bosnia-Herzegovina and Liechtenstein), are located in the new part of Belgrade New Belgrade. Referring to total assets, Hypo Alpe-Adria-Bank a.d. is Serbias fourth-largest bank with a market share of 6.47 %. Furthermore, approximately 900 employees are currently working for the Bank in a total of forty-one branch offices throughout Serbia. Market share of top five banks in Serbia (Source: National Bank of Serbia available at http://www.nbs.rs/export/internet/latinica/50/50_5.html) After just several months of its operations in Serbia, the Bank has established itself as a recognizable part of the Serbian financial scene. In its first two years of its activities, Hypo concentrated on corporate customers. The Bank has achieved a particular competitive advantage in the corporate sector with its long-term investment lending. Efforts to develop private customer business began in 2004. The specific focus gradually switched to the housing construction market, which was performing excellently. When we arrived to the Serbian market in 2002, we were among the first ones and there had been only six foreign banks operating in the market. We have used that window of opportunity, the situation when there had been few foreign banks present, in order to develop our credit portfolio. In that period, we had the opportunity to finance some of the most successful companies in Serbia, as well as to develop well-balanced portfolio, which we diversified over the years. Special attention was dedicated to retail sector, mostly in the field of house loans. Additionally, we have formed a special unit for financing of small and medium sized enterprises and this has become one of our corporate priorities, having in mind that these companies are often suppliers and partners of the big companies we already cooperate with. Other than that, our focus is on food industry, agriculture, pharmaceutical and chemical industry. (Vladimir Cupic, Chairman of the Management Board of the Hypo Alpe Adria Bank a.d. Beograd) The Bank is organized in the following sectors and departments: Corporate sector Retail sector Sector of financing public enterprises and local community units Treasury sector Investment banking HR department Economic analysis department Sector settlement Market support sector Logistics sector Sector of organization and information technology Legal department Department of business control harmonization Marketing department The research process will only incorporate the sectors, which are relevant for the research question of the thesis. 3.1. Corporate sector From the very beginning of its operations in Serbia, the Bank has established an extremely developed corporate sector, which quickly expanded in the sense of different departments within the sector, as well as the number of employees. The corporate sector of Hypo Alpe Adria Bank quickly achieved competitive advantage in comparison to other banks in Serbia. Various departments are organized within the sector: Credit department Small and medium enterprises (transferred to the Retail sector in 2006) International financing Products and services of the corporate sector are concentrated on the client and its needs, and include the following: Investment loans (loans approved for the purpose of purchase of machines, equipment, land, real estate) Framework loans (exceeding permissible minus on the account, eskont of bills and revolving lines) Documentary operations (guarantees, credits, purchase of receivables and inkaso) Loans for working capital Till 2006 Hypo Alpe Adria Bank mainly focused on long term corporate loans, which were given to the big corporate clients. Since then, it strategically refocused on small and medium sized enterprises and expanded its offer of products. Corporate sector is known for its extremely innovative products and services offered to the clients. The innovation, which was introduced by the Bank in the market of Serbia, is the so-called cross border financing. This type of financing is dedicated to the clients that operate in more than two countries. The financing capital is actually provided from outside Serbia and offered to the clients under much better conditions than the ones, which are present in the Serbian market. Additionally, the Bank provides special guarantees for the clients within the Hypo Group, and in this way supports their business activities in other countries. Furthermore, another product, which is particularly innovative, was introduced in 2004 and it is called the revolving line. By using this product, clients are automatically enabled to use other additional products, according to their needs (dinar and foreign currency loans, working capital loans, guarantees etc.). The revolving line can be used by big corporate clients, as well as small and medium sized enterprises and entrepreneurs. Being a strategic branch of the Serbian economy, agriculture is one of the top priorities of the corporate sector. The Bank has been extremely active in financing agricultural production: individual agricultural manufacturers have the possibility to finance basic and working capital. Cross selling activities refer to the presentation of banks products from other sectors within the Bank. Acquisition of new clients also represents one of the fundamental operations of the corporate sector. It is particularly important since it is the basis of the planned growth of deposits, as the fundamentals for the primary sources. Special attention within the sector is dedicated to project and structural financing, like: financing of projects for the market or long term exploitation, purchase of shares, mergers / acquisitions of companies. 3.2. Human resource (HR) department and relationship towards employees HR department of Hypo Alpe Adria Bank was established in May of 2003 and has developed its activities at a very rapid pace, due to the fact that the number of employees was increasing intensively. In the very beginning of its operations in Serbia, the bank had a total of 27 employees and in just one year the number increased to 323 employees. In 2005, the growth trend continued and the number of the bank staff reached 531 people. Finally, on the closing date, 31 December 2008, Hypo Alpe-Adria-Bank a.d., Beograd had 871 employees. The increase of the number of employees is the result of the extension of the branch office network. Furthermore, additional employees were recruited in the headquarters to cater for the increasing customer demands. Within the initial process of selection and engagement of young experts, 600 potential candidates have been interviewed. Furthermore, database containing more than 1500 biographies of interested candidates was created, which points out to the fact that young people of Serbia are very keen on participating in the creation of modern multinational companies. One of the key priorities of the HR department from the very beginning of its existence was to enable quick integration of new employees into the system. Secondly, the Bank immediately started with the implementation of the Hypo standards, creation of the corporate identity and team atmosphere in the institution. Additionally, a very important strategic goal for the department was to become the source of educational staff, which would be capable of taking on new jobs, initiatives and development. In that sense, many of the employees, who have already acquired standards of the corporation and business modalities, have obtained leading positions within the Bank as the heads of various sectors. As far as the age structure is concerned, majority of employees of the Bank belong to the age group 30 39 years old, as it is shown in the diagram below. Additionally, 47% of all employees have acquired university education, while 33% of employees have secondary education. Activities of HR department are focused in three directions: administration, finance and education. In the area of administration, the department is handling recruitment process and hiring of new people who are competent and can contribute to the environment of the Bank. In the field of finance, the so called time management program is being implemented within the department, referring to the planning of the budget which will be used for the purpose of staff education and various bonus systems realized through completed targets. Having in mind the fact that, contemporary flows of banking operations worldwide demand constant education of the staff in all areas of the business, HR department takes particular notice of education of employees. The department is conducting educational trainings in various forms: motivation trainings, special skills development courses and language courses. This contributes to the raising of the efficiency level of the staff. Educational trainings are organized internally and externally. Some of the most important types of trainings, depending on the sector are: Cross selling courses Microsoft Office Excel seminars Insurance trainings, which enables the participants to obtain the license of the insurance mediator Small and medium sized enterprises trainings Seminars for the sale of pension and investment funds CDO`s and Credit linked trainings Specialist courses MCPD and MCITP Database Administrator for staff in the sector for informational technologies System Oriented Management course 1 and 2 Optional modules Top executive Education Public Finance Basic Training Project management Train the Trainer Project Management for Top Management Cross selling courses for account managers are particularly important for the activities of the Bank, in order to introduce existing clients of the Bank with new products and services. In this way, account managers tend to ensure that the additional product or service is being sold to the client, while at the same time enhancing the value the client gets from the Bank. Moreover, employees have the opportunity of expanding their knowledge in seminars jointly organized in cooperation with relevant public institutions, such as the National bank of Serbia, Association of Banks in Serbia, Serbian Chamber of Commerce, Institute for Business research and other external providers, as well as trainings related to international accounting standards. Having in mind that the Bank operates in twelve countries and that everyday communication involves the use of foreign languages, English courses are provided for all employees, at the expense of the Company. Additionally, certain numbers of employees who occupy the positions, which are directly linked to the headquarters of the Group in Austria, take courses of German language, whose expenses are also borne by the Company. Particularly relevant project of the department was realized in 2008, when the Bank established its internal employee training center. The main goal of the project was to make the best possible use of the existing knowledge and the practical experience of the staff. The center was formed in order to initiate internal transfer of knowledge among employees, information sharing, better communication, which consequently leads to better work performance and improvement of inter-personal relations within the Bank. This modern and completely technically equipped space is intended for internal and in house trainings, seminars and workshops for employees. Additionally, several types of trainings are conducted within the Center: cross selling workshops, Hypo 1 a tool which helps the staff get acquainted about other sectors besides their own, small and medium size enterprises trainings, etc. In just three months after its opening, more than 400 employees have participated in organized trai nings, and in one year more than 900 employees successfully passed over 30 internal educational and development programs of the center, which consequently justified the original expectations set by the management of the Bank. In addition, there is no doubt that one of the key priorities of the Bank is employee satisfaction. HR department in Hypo Bank actively conducts the employee assessment programs, which are incorporated in the employee satisfaction program. Originally, the program was based on yearly interviews of employees and their superiors on the subject of work efficiency and success, through self evaluation done by the employee, and the evaluation obtained from the superior. In order to upgrade the program, in 2007 HR department decided to introduce new actions. One of these actions was employee satisfaction survey. This type of survey is conducted among all employees in the end of every working year, and concentrates on the four most important areas of employee satisfaction: general satisfaction with work and work conditions, communication and interpersonal relations, leadership, bonus systems and career opportunities. Achieved results from the survey serve as the basis for strategy planning for the upcoming years. This is particularly important in order to include the opinion of the staff in the process of future strategy defining and decision making, so that everyone can benefit from it. Furthermore, obtained results were than given to the HR agency Advance Response International that deals with HR issues, and in this way anonymity and objectivity of the research was achieved. At this point, it is necessary to highlight that Hypo Bank has developed cooperation with several human resource agencies for the purpose of various types of train ings: project management, leadership and management, credit and market risk, etc. Asides from the efforts, which are focused on the improvement of communication among employees, inter-personal relations and management, the management of the Bank puts special emphasis on professional development of the middle and top management members. For that purpose, development center operating within the HR department was established in order to assess development necessities of the staff belonging to these levels of management. The center analyses results of interviews, surveys and supervisors suggestions, and consequently creates individual development plan for every employee. Another type of development plan created in the center, is team development plan, which is implemented on the entire teams working in specific sectors. In order to do business well, you need to have products of good quality, but asides from that, you need to have excellent staff. Therefore, we invest a lot in education and training of our employees. For example, in the second quarter of 2006, we realized a special trainee project. We hired motivated young people who had just completed their university education and we enabled them to pass specific trainings throughout the entire Group in two years, in order to get familiar with every aspect of the company business activities. They didnt have trainings only in Serbia; they also visited other Hypo companies abroad. As we often like to say in the Group: our greatest assets are our employees and for that reason we will continue to invest in their internal and external education. (Marija Sutanovac, Head of the HR department of the Hypo Alpe Adria Bank a.d. Beograd). Important point, which should be highlighted in this section, is opportunity for scholarships for university education of employees. Each year Bank supports further education of thirty selected employees and provides funding for their studies. This program represents a special kind of acknowledgement for talented and hard working employees. Furthermore, in cooperation with the Serbian Business Club Privrednik[4], the Bank provides scholarships for ten students, which are not employees of the bank, and in this way shows its support directed to the young people of Serbia. In this way, talented and perspective students have the opportunity to be in touch with the people from the most significant and influential companies in Serbia, and can find employment opportunities upon their graduation asides form their scholarships. 3.3. Marketing department and relationship towards clients Marketing department had a challenging task of providing support to all business activities of the Bank, once it penetrated the Serbian market. The key priority of the department was to create a positive image of the Hypo Bank, as well as to inform the Serbian population about its products and services. Corporate image strategy emphasized values of the bank: its tradition, innovative approach to business, Alps-Adriatic philosophy based on the regional banking client focus, partnership, security, corporate responsibility and independence. The main focus of the department was to create and promote the corporate image, which emphasizes that Hypo Alpe Adria Bank a.d. Beograd takes care of its clients in the same way as it takes care of its employees, and that it is a reliable partner who nurtures the local community in which it exists. The main element of the departments strategy was to create two-way communication with the clients: to reach the clients, and to hear their needs as well. For that purpose, the Bank introduced a special program called clients suggestions. Clients of the Bank have the possibility of sending their suggestions, comments, Hypo Group Alpe Adria Analysis Hypo Group Alpe Adria Analysis 1. General information about Hypo Group Alpe Adria Hypo Group Alpe Adria is an international financial group with more than 380 banking and leasing locations in twelve European countries: Austria, Italy, Slovenia, Croatia, Bosnia-Herzegovina, Serbia, Montenegro, Germany, Hungary, Bulgaria, Macedonia and the Ukraine. The group has a rich historical background. Roots of Hypo Group Alpe Adria date way back in 1896 when the group was founded. Consequently, it has accumulated more than one hundred years of business experience. In the beginning of its activities, it concentrated on financing public institutions and housing construction. Hypo KÃ ¤rnten as it was then known became a universal bank in 1982. In 1988 the Bank took the first step on the road to international expansion by opening a leasing subsidiary in Udine, Italy. It became a public limited company in 1991, and in 1992 Grazer Wechselseitige Versicherung joined the Province of Carinthia as the second shareholder. This marked the beginning of a new era for Hypo Alpe-Adria-Bank. With cross-border activities in twelve countries of the Alps Adriatic region[1], the Hypo Group Alpe Adria has a unique position in the economic area constituted by South Eastern Europe. Its network of branches and offices exists in Austria, Italy and Germany, from Slovenia through Croatia, Bosnia-Herzegovina, Serbia, Montenegro, Macedonia, Hungary, Bulgaria and the Ukraine. Business priorities in the operations of Hypo Group Alpe Adria are the strategic business sectors banking and leasing, with the focus on a common goal: contribution to the prosperity of the Alps Adriatic region and of the people living in it. Hypo Group Alpe Adria is committed to pursuing its goal of becoming the leading commercial bank in the Alps Adriatic region. 1.2. Mission and Strategy The mission of the Group is the following: instead of pursuing global presence as a goal, Hypo Group Alpe Adria is more locally oriented. In the Alps to Adriatic region, with its cross-border markets, it is local market knowledge at a very personal and emotional level, which is crucial. Personal contact with the customers represents the basis of mutual trust for the Group. For this reason the Group sees its relationships as partnerships, which extend far beyond simple money issues. According to the Group, success can only be achieved through human contacts, and it can only be measured in terms of personal relationships, so that partnership at a personal level is the Groups ultimate ideal. Hypo Group Alpe Adria leaves the goal of worldwide presence to the global players. As a leading regional player in the Alps to Adriatic area, it concentrates on the southeastern markets, with the motto banking business is peoples business, confirming its nonnegotiable customer orientation. Respecting differences, growing together and sharing successes with others these are the cornerstones of partnerships with customers on which the business structures of the Group are based. Having in mind that the fundamental strategy of the Group is to achieve growth in the Alps to Adriatic region, Hypo Group Alpe Adria has been pursuing its visionary strategy since 1993 with great success: to establish and develop a strong financial services Group in the Alps to Adriatic region which combines the highly developed Northern Italian, Germany and Austrian business cultures with growth market opportunities in Hungary, Slovenia, Croatia, Bosnia Herzegovina, Serbia, Montenegro, Bulgaria, Macedonia and the Ukraine. As a result, the Group plays a key role in directing funds and economic development to and in the region. Up till now, its successful expansion has given Hypo Group Alpe Adria intensive coverage of the areas, which in coming years will become its home markets. Additionally, long term involvement and commitment are priorities of the Group. Hypo Group Alpe Adria has established itself as a strong and reliable business partner in the Alps to Adriatic region. Its involvement in each country represents a long term commitment, so that businesses operating in any of these countries have the certainty and security they need in order to develop their activities. The Group is actively involved in developing local economies, and consequently, this contributes to the foundations of local prosperity. Furthermore, preserving independence and regional identity is one of the cornerstones of the Groups philosophy. This fact gives customers and business partners the certainty that they are handling their business with a dynamic and internationally minded bank which at the same time is at home in each of the individual regions. Hypo Group Alpe Adria is close to its customers in all the countries it operates in, thanks to its emphasis on independence and un-bureaucratic decentralized structures. 1.4. Regional presence of Hypo Group Alpe Adria It is important to underline that the expansion of Hypo Group Alpe Adria into its core market, the Alps to Adriatic Region, followed gradually. The establishment of the first Austrian bank branch in Vicenza (Italy), under EU law followed with Austrias accession to the EU in 1995. In the same year leasing companies were established in Ljubljana (Slovenia) and Zagreb (Croatia). In the upcoming years further leasing outlets were opened in Slovenia and the expansion of the branch network in Italy and Croatia. In 1997 the number of staff at Hypo Group Alpe Adria went over the barrier of five hundred employees, accompanied by the start of construction of the present Klagenfurt (Austria) headquarters, which was completed in three phases by 2002. By the beginning of the new millennium, Hypo Group Alpe Adria already employed over one thousand people. In the following year it entered the market in Bosnia and Herzegovina. In 2002, Hypo Group Alpe Adrias expansion penetrated into the market of Serbia and Montenegro. The Groups dynamic progress continued in 2003, when it was announced as investor of the year in Bosnia and Herzegovina, opened a leasing branch in Munich (Germany), founded the Biogaspark Alpe Adria and launched tourism initiatives in Carinthia (Austria), starting the Schlosshotel Velden project. Hypo Group Alpe Adria is today active in Austria, Italy, Croatia, Slovenia, Bosnia and Herzegovina, Serbia, Montenegro, Germany, Hungary, Bulgaria, Macedonia and Ukraine. In 2005 it numbered approximately 5000 employees at over 250 locations. The year of 2006 has been extremely important for the Group and it conducted strategically important expenditure decisions. It founded Hypo Alpe Adria Bank a.d. in Podgorica (Montenegro), Hypo Alpe-Adria-Rent d.o.o. in Belgrade (Serbia) and Hypo Alpe-Adria-Leasing OOD in Sofia (Bulgaria). The principal company of Hypo Group Alpe Adria is Hypo Alpe Adria Bank International AG, which has its head office in Klagenfurt (Austria). Its owners are BayernLB (67.08%), the GRAWE group (20.48%), KÃ ¤rntner Landesholding (12.42%) and Hypo Alpe Adria Mitarbeiter Privatstiftung (0.02%). The network of Hypo Group Alpe Adria currently has around 7,500 employees serving more than 1.3 million consumers. 2. Hypo Group Alpe Adria in Serbia Hypo Group Alpe Adria conducts its business activities in Serbia from 2002, as a part of the Hypo Alpe Adria Bank International AG Klagenfurt, which originally operated only in the territory of Austria. In the past couple of years, the Group began with its dynamic expansion in the international market, which consequently resulted in great success: the Group became one of the most successful financial institutions in the Alps Adriatic region, with approximately 7500 employees and more than 1.3 million clients in twelve countries. When we arrived to the Serbian market, we made a thorough analysis of finance, economy and legal sector, as well as the political situation of the country, based on which we have determined that Serbia will become one of the most important countries in our network. Serbia has enormous potential and we plan to invest in this country in the future and to become one of the leading financial institutions of the country. (Markus Ferstl, former Chairman of the Management Board of the Hypo Alpe Adria Bank a.d. Beograd) Having in mind that Hypo Group Alpe Adria`s strategic business sectors are banking and leasing, the Serbian market was firstly penetrated in the leasing sector. Leasing represents a relatively new form of financing in the Serbian market. Therefore, a leasing company bearing the name Hypo Alpe Adria Leasing d.o.o., was established in 2002, and it gained a leading position from the very beginning of its activities. The company remained the leader till present time with a cumulative market share of 35.19% in all segments of financing. Hypo Alpe Adria Leasing d.o.o. Beograd currently employs 136 people in affiliating offices throughout Serbia, including Belgrade, Novi Sad, Cacak, NiÃ… ¡, Subotica, Sombor, Zrenjanin, Becej, VrÃ… ¡c, Ã…  abac, Kragujevac and KruÃ… ¡evac. Additionally, not long after the establishment of Hypo Alpe Adria Leasing d.o.o. in Serbia, the bank by the name Hypo Alpe Adria Bank a.d. Beograd was founded in 2002. In just eight moths of business operations in Serbia, the newly founded bank achieved a growth rate of 853%, which exceeded all expectations. Hypo Alpe Adria Bank a.d. Beograd is currently one of the top five financial institutions in Serbia, with a market share of 8.55% and first-class and diversified portfolios. Additionally, it employs more than 800 people and has developed a rich business network consisting of affiliates in almost all bigger cities in Serbia, taking into consideration the headquarters of the company located in Belgrade, in the Business Center Usce where the other member companies of the Group are located[2]. Hypo Alpe Adria Securities a.d. Beograd was founded in 2004. The company is ranked among the top five broker companies in the market of shares and of old savings bonds trading. The youngest company of the Group is Hypo Alpe Adria Rent d.o.o. Beograd, which is the first financial institution in Serbia to offer the possibility of operational leasing for the clients. During the present research, special focus will be on the bank and the leasing company operating in within the system of Hypo Alpe Adria Group. 3. Hypo Alpe Adria Bank a.d. Beograd In order to proceed with the research on Hypo Alpe Adria Bank a.d. Beograd, it is necessary to explain the circumstances in which the banking sector in Serbia existed from 1990s till present time. Disintegration and collapse of socialist Yugoslavia in the beginning of the 1990s announced the so-called lost decade, meaning that major structural features and weaknesses of the banking system were preserved or additionally deteriorated and the overall situation became desperate. The main characteristics of 1990s were losses of markets, repeated wars, economic sanctions and international isolation of the country. Mismanagement and pervasive corruption were main factors, which contributed to the degeneration of the economy. After the major hyperinflation, which occurred in 1993 and 1994, 90 % of all bank loans were perceived as bad. Unprofitable and non-performing foreign currency balance sub-balances dominated balance sheets. One of the main priorities in the reform agenda of the new Serbian authorities, which took over in 2000 was bank restructuring. The essence of the strategy was to undertake bank rehabilitation and re-capitalization only in the cases when it was expected that the banks could be viable institutions with good prospects for privatization through sale to strategic investor at a reasonable price and only if it can be implemented with identifiable fiscal resources. In the beginning of 2002, Serbian authorities decided to conduct one of the boldest bank resolution measures undertaken in transition economies: they liquidated four large and deeply insolvent banks, which accounted for 60% of the book value of the sectors asset and for about two thirds of outstanding commercial credit to non financial sector. Furthermore, banking legislation and regulations were improved[3]. After the first major wave of reform, credit institutions have become more attentive in lending money to the real sector which was still very week. The government immediately acted on attracting foreign investors since there was an urgent need for such a thing. Consequently, from the late 2000 to December 2002, National Bank of Yugoslavia (the central bank) issued eight bank licenses, out of which seven were for the foreign owned banks. Internationalization and privatization of the Serbian banking industry continued in 2005. The share of the market accounted for by foreign banks rose to 67.52%. Out of the ten largest banks, seven are foreign. Successful sales of Serbian banks to foreign financial institutions provided a vigorous stimulus to the countrys banking industry. Total assets of all banks in 2005 jumped by 40.4% compared with the previous year, to 9.07 billion euros. Strong increases in lending to private and business customers were the main forces, which were driving growth. Progress was also made in restoring the confidence of domestic savers: total deposits at the end of 2005 amounted to 5 billion euros. Foreign banks which penetrated the Serbian market played an important role in restoring confidence in the sector and have gathered a significant share of new deposits. One of these banks was Hypo Alpe Adria Bank a.d. Beograd. Hypo Alpe-Adria Banks involvement in the Serbian market began in December 2002, when it acquired Depozitno-kreditna banka. The Austrian bank concluded the purchase of 86.6% of the Serbian Depozitno-Kreditna Banka, founded May 22nd 1991, whose registered offices were in Belgrade. At the shareholders meeting held on October 8th 2002, the Banks name was changed to Hypo Alpe-Adria-Bank a.d., the capital increase to EUR 5.5 million was resolved, and the new Supervisory Board was appointed. The headquarters of to Hypo Alpe-Adria-Bank a.d., the member of the Hypo Group (after Austria, Italy, Slovenia, Croatia, Bosnia-Herzegovina and Liechtenstein), are located in the new part of Belgrade New Belgrade. Referring to total assets, Hypo Alpe-Adria-Bank a.d. is Serbias fourth-largest bank with a market share of 6.47 %. Furthermore, approximately 900 employees are currently working for the Bank in a total of forty-one branch offices throughout Serbia. Market share of top five banks in Serbia (Source: National Bank of Serbia available at http://www.nbs.rs/export/internet/latinica/50/50_5.html) After just several months of its operations in Serbia, the Bank has established itself as a recognizable part of the Serbian financial scene. In its first two years of its activities, Hypo concentrated on corporate customers. The Bank has achieved a particular competitive advantage in the corporate sector with its long-term investment lending. Efforts to develop private customer business began in 2004. The specific focus gradually switched to the housing construction market, which was performing excellently. When we arrived to the Serbian market in 2002, we were among the first ones and there had been only six foreign banks operating in the market. We have used that window of opportunity, the situation when there had been few foreign banks present, in order to develop our credit portfolio. In that period, we had the opportunity to finance some of the most successful companies in Serbia, as well as to develop well-balanced portfolio, which we diversified over the years. Special attention was dedicated to retail sector, mostly in the field of house loans. Additionally, we have formed a special unit for financing of small and medium sized enterprises and this has become one of our corporate priorities, having in mind that these companies are often suppliers and partners of the big companies we already cooperate with. Other than that, our focus is on food industry, agriculture, pharmaceutical and chemical industry. (Vladimir Cupic, Chairman of the Management Board of the Hypo Alpe Adria Bank a.d. Beograd) The Bank is organized in the following sectors and departments: Corporate sector Retail sector Sector of financing public enterprises and local community units Treasury sector Investment banking HR department Economic analysis department Sector settlement Market support sector Logistics sector Sector of organization and information technology Legal department Department of business control harmonization Marketing department The research process will only incorporate the sectors, which are relevant for the research question of the thesis. 3.1. Corporate sector From the very beginning of its operations in Serbia, the Bank has established an extremely developed corporate sector, which quickly expanded in the sense of different departments within the sector, as well as the number of employees. The corporate sector of Hypo Alpe Adria Bank quickly achieved competitive advantage in comparison to other banks in Serbia. Various departments are organized within the sector: Credit department Small and medium enterprises (transferred to the Retail sector in 2006) International financing Products and services of the corporate sector are concentrated on the client and its needs, and include the following: Investment loans (loans approved for the purpose of purchase of machines, equipment, land, real estate) Framework loans (exceeding permissible minus on the account, eskont of bills and revolving lines) Documentary operations (guarantees, credits, purchase of receivables and inkaso) Loans for working capital Till 2006 Hypo Alpe Adria Bank mainly focused on long term corporate loans, which were given to the big corporate clients. Since then, it strategically refocused on small and medium sized enterprises and expanded its offer of products. Corporate sector is known for its extremely innovative products and services offered to the clients. The innovation, which was introduced by the Bank in the market of Serbia, is the so-called cross border financing. This type of financing is dedicated to the clients that operate in more than two countries. The financing capital is actually provided from outside Serbia and offered to the clients under much better conditions than the ones, which are present in the Serbian market. Additionally, the Bank provides special guarantees for the clients within the Hypo Group, and in this way supports their business activities in other countries. Furthermore, another product, which is particularly innovative, was introduced in 2004 and it is called the revolving line. By using this product, clients are automatically enabled to use other additional products, according to their needs (dinar and foreign currency loans, working capital loans, guarantees etc.). The revolving line can be used by big corporate clients, as well as small and medium sized enterprises and entrepreneurs. Being a strategic branch of the Serbian economy, agriculture is one of the top priorities of the corporate sector. The Bank has been extremely active in financing agricultural production: individual agricultural manufacturers have the possibility to finance basic and working capital. Cross selling activities refer to the presentation of banks products from other sectors within the Bank. Acquisition of new clients also represents one of the fundamental operations of the corporate sector. It is particularly important since it is the basis of the planned growth of deposits, as the fundamentals for the primary sources. Special attention within the sector is dedicated to project and structural financing, like: financing of projects for the market or long term exploitation, purchase of shares, mergers / acquisitions of companies. 3.2. Human resource (HR) department and relationship towards employees HR department of Hypo Alpe Adria Bank was established in May of 2003 and has developed its activities at a very rapid pace, due to the fact that the number of employees was increasing intensively. In the very beginning of its operations in Serbia, the bank had a total of 27 employees and in just one year the number increased to 323 employees. In 2005, the growth trend continued and the number of the bank staff reached 531 people. Finally, on the closing date, 31 December 2008, Hypo Alpe-Adria-Bank a.d., Beograd had 871 employees. The increase of the number of employees is the result of the extension of the branch office network. Furthermore, additional employees were recruited in the headquarters to cater for the increasing customer demands. Within the initial process of selection and engagement of young experts, 600 potential candidates have been interviewed. Furthermore, database containing more than 1500 biographies of interested candidates was created, which points out to the fact that young people of Serbia are very keen on participating in the creation of modern multinational companies. One of the key priorities of the HR department from the very beginning of its existence was to enable quick integration of new employees into the system. Secondly, the Bank immediately started with the implementation of the Hypo standards, creation of the corporate identity and team atmosphere in the institution. Additionally, a very important strategic goal for the department was to become the source of educational staff, which would be capable of taking on new jobs, initiatives and development. In that sense, many of the employees, who have already acquired standards of the corporation and business modalities, have obtained leading positions within the Bank as the heads of various sectors. As far as the age structure is concerned, majority of employees of the Bank belong to the age group 30 39 years old, as it is shown in the diagram below. Additionally, 47% of all employees have acquired university education, while 33% of employees have secondary education. Activities of HR department are focused in three directions: administration, finance and education. In the area of administration, the department is handling recruitment process and hiring of new people who are competent and can contribute to the environment of the Bank. In the field of finance, the so called time management program is being implemented within the department, referring to the planning of the budget which will be used for the purpose of staff education and various bonus systems realized through completed targets. Having in mind the fact that, contemporary flows of banking operations worldwide demand constant education of the staff in all areas of the business, HR department takes particular notice of education of employees. The department is conducting educational trainings in various forms: motivation trainings, special skills development courses and language courses. This contributes to the raising of the efficiency level of the staff. Educational trainings are organized internally and externally. Some of the most important types of trainings, depending on the sector are: Cross selling courses Microsoft Office Excel seminars Insurance trainings, which enables the participants to obtain the license of the insurance mediator Small and medium sized enterprises trainings Seminars for the sale of pension and investment funds CDO`s and Credit linked trainings Specialist courses MCPD and MCITP Database Administrator for staff in the sector for informational technologies System Oriented Management course 1 and 2 Optional modules Top executive Education Public Finance Basic Training Project management Train the Trainer Project Management for Top Management Cross selling courses for account managers are particularly important for the activities of the Bank, in order to introduce existing clients of the Bank with new products and services. In this way, account managers tend to ensure that the additional product or service is being sold to the client, while at the same time enhancing the value the client gets from the Bank. Moreover, employees have the opportunity of expanding their knowledge in seminars jointly organized in cooperation with relevant public institutions, such as the National bank of Serbia, Association of Banks in Serbia, Serbian Chamber of Commerce, Institute for Business research and other external providers, as well as trainings related to international accounting standards. Having in mind that the Bank operates in twelve countries and that everyday communication involves the use of foreign languages, English courses are provided for all employees, at the expense of the Company. Additionally, certain numbers of employees who occupy the positions, which are directly linked to the headquarters of the Group in Austria, take courses of German language, whose expenses are also borne by the Company. Particularly relevant project of the department was realized in 2008, when the Bank established its internal employee training center. The main goal of the project was to make the best possible use of the existing knowledge and the practical experience of the staff. The center was formed in order to initiate internal transfer of knowledge among employees, information sharing, better communication, which consequently leads to better work performance and improvement of inter-personal relations within the Bank. This modern and completely technically equipped space is intended for internal and in house trainings, seminars and workshops for employees. Additionally, several types of trainings are conducted within the Center: cross selling workshops, Hypo 1 a tool which helps the staff get acquainted about other sectors besides their own, small and medium size enterprises trainings, etc. In just three months after its opening, more than 400 employees have participated in organized trai nings, and in one year more than 900 employees successfully passed over 30 internal educational and development programs of the center, which consequently justified the original expectations set by the management of the Bank. In addition, there is no doubt that one of the key priorities of the Bank is employee satisfaction. HR department in Hypo Bank actively conducts the employee assessment programs, which are incorporated in the employee satisfaction program. Originally, the program was based on yearly interviews of employees and their superiors on the subject of work efficiency and success, through self evaluation done by the employee, and the evaluation obtained from the superior. In order to upgrade the program, in 2007 HR department decided to introduce new actions. One of these actions was employee satisfaction survey. This type of survey is conducted among all employees in the end of every working year, and concentrates on the four most important areas of employee satisfaction: general satisfaction with work and work conditions, communication and interpersonal relations, leadership, bonus systems and career opportunities. Achieved results from the survey serve as the basis for strategy planning for the upcoming years. This is particularly important in order to include the opinion of the staff in the process of future strategy defining and decision making, so that everyone can benefit from it. Furthermore, obtained results were than given to the HR agency Advance Response International that deals with HR issues, and in this way anonymity and objectivity of the research was achieved. At this point, it is necessary to highlight that Hypo Bank has developed cooperation with several human resource agencies for the purpose of various types of train ings: project management, leadership and management, credit and market risk, etc. Asides from the efforts, which are focused on the improvement of communication among employees, inter-personal relations and management, the management of the Bank puts special emphasis on professional development of the middle and top management members. For that purpose, development center operating within the HR department was established in order to assess development necessities of the staff belonging to these levels of management. The center analyses results of interviews, surveys and supervisors suggestions, and consequently creates individual development plan for every employee. Another type of development plan created in the center, is team development plan, which is implemented on the entire teams working in specific sectors. In order to do business well, you need to have products of good quality, but asides from that, you need to have excellent staff. Therefore, we invest a lot in education and training of our employees. For example, in the second quarter of 2006, we realized a special trainee project. We hired motivated young people who had just completed their university education and we enabled them to pass specific trainings throughout the entire Group in two years, in order to get familiar with every aspect of the company business activities. They didnt have trainings only in Serbia; they also visited other Hypo companies abroad. As we often like to say in the Group: our greatest assets are our employees and for that reason we will continue to invest in their internal and external education. (Marija Sutanovac, Head of the HR department of the Hypo Alpe Adria Bank a.d. Beograd). Important point, which should be highlighted in this section, is opportunity for scholarships for university education of employees. Each year Bank supports further education of thirty selected employees and provides funding for their studies. This program represents a special kind of acknowledgement for talented and hard working employees. Furthermore, in cooperation with the Serbian Business Club Privrednik[4], the Bank provides scholarships for ten students, which are not employees of the bank, and in this way shows its support directed to the young people of Serbia. In this way, talented and perspective students have the opportunity to be in touch with the people from the most significant and influential companies in Serbia, and can find employment opportunities upon their graduation asides form their scholarships. 3.3. Marketing department and relationship towards clients Marketing department had a challenging task of providing support to all business activities of the Bank, once it penetrated the Serbian market. The key priority of the department was to create a positive image of the Hypo Bank, as well as to inform the Serbian population about its products and services. Corporate image strategy emphasized values of the bank: its tradition, innovative approach to business, Alps-Adriatic philosophy based on the regional banking client focus, partnership, security, corporate responsibility and independence. The main focus of the department was to create and promote the corporate image, which emphasizes that Hypo Alpe Adria Bank a.d. Beograd takes care of its clients in the same way as it takes care of its employees, and that it is a reliable partner who nurtures the local community in which it exists. The main element of the departments strategy was to create two-way communication with the clients: to reach the clients, and to hear their needs as well. For that purpose, the Bank introduced a special program called clients suggestions. Clients of the Bank have the possibility of sending their suggestions, comments,