International Management Essay Example | Topics and Well Written Essays - 1250 words - 3

International Management - Essay Example From this paper it is clear that  in the fast changing global equation of socio economic development, it is important that efforts are made to ensure that better understanding of cross cultural values and business practices are developed. The need of the hour is that a comprehensive study of factors which may hinder the business negotiations are undertaken and efforts are made to mitigate the influence of those factors in furthering the mutual business development of the global community.  This study outlines that  The imperatives of the global business environment have transformed the traditional business practices to suit the business and cultural compulsions of the host business partners. the international business practices must take cognizance of the changed equation of business practice with reference to the changing socio cultural background of the country, where one needs to establish the business interests. National cultures are known to determine the negotiatorâ€℠¢s assumptions and thoughts which help to form business strategy and behavioral pattern.  Negotiations primarily involve six major steps: defining goals and objectives; understanding socio-cultural values of one’s business partner; identify main variables in the negotiation processes; gaining comprehensive knowledge of country’s legal framework and political compulsion which may have significant impact on business outcome; develop mutual trust and confidence building.

Construction law Essay Example | Topics and Well Written Essays - 1000 words

Construction law - Essay Example Construction projects could clearly be said to be the result of co-ordinated efforts between promoters, project managers, consultants, architects, planners and workforce (own and/or contracted) who actually carry out the construction work at the site. Thus, when considering the construction industry in its entirety, the need for demand creation is vested with groups of individuals who could create more value for organisations than individuals working in isolation. â€Å"But by freely indulging in exchange, that is with no coercion, each member would be better off or at least no worse off than by being in isolation. The group as a whole would be better off; value is created.† (Sen n.d). However, construction activities also envisage time and cost factors. Unjustified delays may cause budgetary constraints which could be avoided if planning and organization of joint projects were carried out meticulously and diligently. â€Å"It was concluded that this approach offers a number of benefits for the client, the main contractor, partnering subcontractors and professional consultants, such as, lower costs, improved team approach and less confrontation.†(Humphreys, Matthews & Kumaraswamy 2003, pp.166-178). non-actions. However, much would depend upon the ensuing covenant and the terms and conditions of employment. Just as there are legal differentiations between contractors and employees, so also there are surrounding differences between the rights, liabilities and privileges of contractors, sub contractors and others along the line. Though much about contracting is gained from the UK Contract Act and ancillary laws, local laws and practices are also of major import, especially in the event of disputes. Often the demarcation of where the responsibilities of the main contractor ends and that of the sub contractors begin could be

Analysis of Schick Company

Analysis of Schick Company Executive Summary The purpose of this report is to provide a diagnosis analysis of Schick giving the major issues that are confronting the company and the attendant implications for the company. Schick was established in the year 1990 and registered in Southampton as a private limited liability business following the outcome of the collaborative research efforts of three university professors namely; Prof. Chen Ding, Prof. Karl Otto Ludwig and Prof. Andrew Marsh resulting in the design and manufacture of energy saving refrigerators during the period noted for environmental consciousness and high energy prices among others. Given their technical and engineering background, over time, the business became one of the market leaders renowned for its design and environmentally friendly home appliances and enjoy recognition as a 21st Century Role Model in the year 2014 given its unique capability for growth and profitability while setting global standards in innovation, corporate social responsibility, and Responsible Leadership. The demise of the three professors in a tragic road accident in Munich marks the end of an era coupled with the eventual management change of Mr. John Marsh Son of Professor Andrew Marsh as the new CEO who introduced changes in the overall structure of the company including the termination of the four management professionals. Within a short period after this failed leadership and mismanagement resulted in a critical situation which brought the company close to struggling for dire survival as its bedevil by challenges confronting it. The realisation of this reality informs the need for fundamental strategic change, hence the appointment of an independent analysis of current situation. A cursory look and critical evaluation of current conditions revealed a strategic shift from the founding owners ethos creating a non-tangent between value, resources, and environment because of a major shift in the business objective and strategy from environmental protection and corporate social responsibility to a short-term profit maximization and benevolence leadership style. This has several negative implications both internal and external which range from loss of credibility and trust of staff and other stakeholders, lack of strategic investment in the business future, to cost-cutting that resulted in poor design and product safety standard. Internally, there is a high-power distance organisation culture and leadership style currently whereby the CEO displays a coercive power that tends to alienate other stakeholders and serve as a barrier to adequate crisis management and the future business of Schick. Consequently, there is the need for a general review of management ethos and strategies to regain its lost credibility and image necessary for the survival of the business. Introduction This report is intended to provide an independent diagnosis of the Schick[1] issues affecting and to provide a detailed evaluation of the present and future implications of these on this company. Registered as a private limited business with the head office in Southampton in 1990 to manufacture domestic white goods, Schick has been in successful business for over 25 years and with laurels nationally and internationally for its innovative environmental friendly energy saving products, responsible leadership, and corporate social responsibilities. However, things took a new turn in January 2015 with the demise of the founders in an auto crash and Mr. John Marsh taking over the management of the business. From this stage, Schick started experiencing changes and challenges resulting in its poor image and reputation because of the shift in strategic management ethos of the business that led to product fire and death incident. Consequently, this report took a detailed analysis of the major issues with the attendant implications for the future survival of Schick before the summary conclusion of the main findings which leads to the prospective action required in response to them. Case diagnosis and analysis of implications The examination of Schick home appliances revealed a series of issues that are hereby provided in this abbreviated SWOT Analysis[2] below and further discussed in this report Figure 1: Abbreviated SWOT Analysis Strengths: Global operating platform. Strong brand name. Economies of scale. Strong sustainability focus. (manufacturing in China) Wide range of products Weaknesses: Lack of responsible leadership. Short-term profit focus. Poor business strategy in terms of innovation, value and core competencies. Weakening bargaining power over distributors. Lack of corporate social responsibility research development facility commitment. Negative publicity poor company image Opportunities: Increasing concern and demand for environmental energy saving appliances. Growing Asian market new market in Africa. New acquisitions business alliance. Potential inventions. Governmental cooperation and potential funding. Growing concern about climate change and investment in fast-growing product categories, e.g. air conditioning Threats: Increasing competition. Lower return on investment. Economic uncertainty (BREXIT). Reduce skilled workforce due to migration Changes in laws and regulations. Cheap goods from other countries i.e. Japan Change in customer preferences and demand The crisis in Schick stems from the change of leadership culture and style. This, in turn, brought about a change of the companys management ethos and style as the business now focuses on short-term profit maximization strategy through cost reduction and undermines major consideration for other stakeholders. This manifested in a decision to eliminate staff training and development programme, reduce funding for the research and development unit of the business which stands at the heart of the business future strategic investment absence of which leads to the risk of innovation, and development that would further grow the business and increase profit (Koch, 2010). To put this in the context of profit maximization, a scholar states that To argue that all firms aim to do nothing else but maximize profits has not better basis in logic or intuition as to argue that all students aim only to maximise examination marks (Hawkins, 1970, pp. 129-140). In other words, it is not ideal to focus on profit maximization especially within a short span of time. Management style adopted by the Mr. John Marsh is akin to autocratic leadership style associated with rigid control and top-down decision making characterised by hierarchical organisation structure (Schein, 2004; Whetton, Cameron, 2016) whereby the leader makes most important business decisions without the input of his employees. (Enderle, 2009; Northouse, 2016). Efficient decision making is of great benefit especially when urgency is required. But autocratic leaders tend to reduce the morale of his staff and very quickly begun alienating both the directors and employees of the company (Lewin, et al 1939; Cook, 2008). This was compounded by the news of the Schick directors termination which caused a widespread shock, concern, and unrest. This is further reflected the organisational culture best described as power culture (Hardy 1978 cited by Hughes, M 2010), with Mr. John Marsh at the centre of power From the above, it can be stated that the psychological contract Schick and its employees has been damaged and undermine their sense of individual autonomy particularly among Munich staff when given the news of the proposed cuts in research development laboratory as well as training and development that not only give room for social interaction but knowledge exchange that leads to safe innovative product design that contributed the make the company an household name for silk, efficient, safe and reliable product that creates a background for the business profitability. (Mone, London, 2010; Abdoli, Pourkazemi, 2012). Equally of note is the United Kingdom European Union membership referendum, also known as the Brexit referendum, which took place on Thursday 23 June 2016. This is a critical moment for Schick given all the uncertainty and forms surrounding exit (Global Counsel October 2015) compound matters, as about 50% of the employees in Southampton were of Polish origin, majority of these Polish staffs are concern that they would not have a future at Schick the Brexit situation and employee engagement issues in the company particularly the termination of the four director which they reasoning that if Mr. John Marsh could sack the directors who had help build the company, he certainly could do same to them as well and as such could not be trusted to protect their interest as employees in the event of changes imposed following the formalisation of Brexit. (The Guardian July August 2016). In turn, this creates skills gap and further made worse by Mr. John Marsh management decision to do away with the operational arrangement in China that gives the business access to the Asian market. The Chinese manufacturer which had established its own market, reputation and distribution channels in Asia was equally concerned about the impact of Mr. John Marshs leadership on its profitability. By 15th July 2016, the agreement was reached limiting Schicks operations to only Southampton and focused on the UK and Northern European market, now apparently more difficult given the UK exiting the common European Union market and without a research development unit (Lorca, Garcà ­a-Diez, 2004). The situation at Schick combined with the uncertainty in the UK, the weak pound sterling could increase the companys production cost and reduce its profit margin (Lorenczik, et al. 2016). Regarding its customers, the situation could be likened to that implicit contract that is akin to the employee psychological contract mentioned earlier that was damaged by Schick by not meeting norms, and value expectations given the fact that the company was synonymous with global standards setting in product quality and corporate social responsibility has been badly affected by the attempt to stimulate sales and regain lost credibility in the marketplace, which made Mr. John Marsh used a previous design for washing machines discarded by the research development laboratory in 2015 and the attendance fire and death. This accident event effect was poorly managed (Varadarajan, et al 2006; Carroll, 2013). In addition, Schicks main distributor responsible for the distribution of the faulty washing machine which caused the fire had to terminate its contract with Schick following the negative publicity and the poor management of the situation by Schick. The company option, therefore, coul d have been to take action in recalling the affected products and make press statement to express regret over the incident and give reassurance of its total commitment to the corporate ethos; safety reliability that would demonstrate good communication, business ethics and values in consideration of corporate social responsibility that could help restore stakeholders confidence and loyalty (Daly Moloney, 2004; Le, et all 2014). The future of the business is not sure if Schicks narrow market focus is considered as the Brexit could restrict access to northern Europe. But there is growing market demand for white goods in Africa (KPMG, 2016) if connection with china could be re-established and adequate funding provided for research and development. In order to address the issue of staff trust and loyalty, as all staff felt unable to carry on working for Schick given recent events which will also lead to skills shortage and loss of competitive advantage, there is the great need for corporate culture and leadership style. Since staff only remained at Schick due to the memory of the three professors and all they had achieved, there is a need to build on this loyal sentiment through a robust employee involvement as it were to increase employee engagement and participation (Hyman, Mason, 1995). In summary, Schicks established reputation for sleek, modern, innovative energy-saving white goods achieved through a devotion to research development, corporate social responsibility, and responsible leadership, has fallen from grace in short time under the management of Mr. John Marsh bringing about the following challenges;. The sacking of the directors created a leadership gap and caused grave concern amongst employees and other key stakeholders. The sale of its research development Laboratory had not only compromised Schicks innovative capability but placed customers at risk and reduce it comparative competitive advantage as a market leader. The leadership style and short term profit focused approach to business led to the loss of confidence in Schicks leadership both within Schick and in the marketplace. Schick experienced high staff turnover at over a short period of time which created major gaps in knowledge and expertise.   The well-publicised fire caused by Schicks new washing machine has seriously ruined its image and reputation in the marketplace resulting in its main distributor terminating its contract, these created a strategic drift and a situation of lost organisation with environmental and resource value tangent (Kew Stredwick, 2008). Conclusion The good old Schick is now confronted with enormous challenges and crisis breaking point. Diagnosis exposed the major issues affecting it which need urgent attention for its future business existence consequently, the need to revisit and change the narrow business strategy of short-term profit maximisation, high-power distance structure to furnish considerations for other stakeholders interest with regard for corporate social responsibility, good business ethics and responsible leadership all of which call for immediate action plan and implementation to ensure the survival of the company. [1] All information relating to Schick in this report and not stated otherwise are drawn from: Sockalingam, S (2016) Distressing times at Schick home appliances. Unpublished coursework case study, Glasgow Caledonian University. [2]The information provided in the abbreviated SWOT Analysis (figure 1) is drawn from the Appendices. Full SWOT Analysis, PESTLE Analysis, stakeholder Analysis, Cultural Web, and Porters five forces of comparative position model respectively.

The French Lieutenants Woman as Victorian Realistic Novel Essay

The French Lieutenant's Woman as Victorian Realistic Novel      Ã‚   Although The French Lieutenant's Woman was written and cinematized in the 20th century and is based on a modern film production of a piece of 19th century fiction, the stories and plots themselves have contextual elements of a Victorian Realistic Novel. Despite the inability to accurately and directly compare it with that of true Victorian literature, many of the same elements can be found and parallel one another. Some of the elements of present day contemporary novels still bear a resemblance to their Victorian predecessors.    The French Lieutenant's Woman can be considered a Realistic novel because its subjects are of people living in society and their relationships; more specifically, love, courtship, money, marriage, infidelity, and social problems of the time (Agatucci, 2001). This can be contrasted to heroic, fantastic idealized or sensationalized plots of a Romance (Agatucci, 2001). In this case, realistic category fits for both past and present versions of the plot . In addition, the plot itself runs a course determined by cause and effect logic and determinism, as opposed being influenced by the divine or supernatural and be predetermined (Agatucci, 2001). The characters and conflicts can be hazy as to who is the "hero" and "villain", their qualities are a mix of both good and bad, strong and weak, and they are not idealized like that of a classical hero (Agatucci, 2001). For example, we wish for the main characters in The French Lieutenant's Woman to find love and happiness with each other, but th eir affairs are elicit and they are betraying others. Yet the characters do not possess the extreme elements of the Byronic hero, which is mostly a ... ...irs happening at the same time (Agatucci, 2001). The lack of continuity allows for reflection and comparison not only of life then and now, how we allow ourselves to be wisked off into a world of invention and illusion.    When we are willing participants, the other dramatic devices such as setting, character and plot development, and a realistic theme will then have a stronger influence on our imagination. Despite of our awareness that the stories are fiction, our need to be entertained suspends our disbelief; this one of the few characteristics we have very much in common with those living in the Victorian era.    Works Cited Longman, (2000). The Longman Anthology of British Literature, vol. B. Damrosch, D. (ed.). NY, LA: Addison Wesley Longman, Inc.  Ã‚   Agatucci, C. (2001). ENG 103, Survey of British Literature. Central Oregon Community College.

Stages of Group Development

The Forming – Storming – Norming – Performing is a model of group development, first proposed by Bruce Tuckman in 1965, who maintained that these phases are all necessary and inevitable in order for the team to grow, to face up to challenges, to tackle problems, to find solutions, to plan work, and to deliver results. Forming In the first stages of team building, the forming of the team takes place. The individual's behavior is driven by a desire to be accepted by the others, and avoid controversy or conflict. Serious issues and feelings are avoided, and people focus on being busy with routines, such as team organization, who does what, when to meet, etc. But individuals are also gathering information and impressions – about each other, and about the scope of the task and how to approach it. This is a comfortable stage to be in, but the avoidance of conflict and threat means that not much actually gets done. Group members learn about each other and the task at hand. Indicators of this stage might include: Unclear objectives, Uninvolvement, Uncommitted members, Confusion, Low morale, Hidden feelings, Poor listening, etc. The team meets and learns about the opportunities and challenges, and then agrees on goals and begins to tackle the tasks. Team members tend to behave quite independently. They may be motivated but are usually relatively uninformed of the issues and objectives of the team. Team members are usually on their best behavior but very focused on themselves. Mature team members begin to model appropriate behavior even at this early phase. Sharing the knowledge of the concept of â€Å"Teams – Forming, Storming, Norming, Performing† is extremely helpful to the team. Supervisors of the team tend to need to be directive during this phase. The forming stage of any team is important because, in this stage, the members of the team get to know one another, exchange some personal information, and make new friends. This is also a good opportunity to see how each member of the team works as an individual and how they respond to pressure. Storming Every group will then enter the storming stage in which different ideas compete for consideration. The team addresses issues such as what problems they are really supposed to solve, how they will function independently and together and what leadership model they will accept. Team members open up to each other and confront each other's ideas and perspectives. In some cases storming can be resolved quickly. In others, the team never leaves this stage. The maturity of some team members usually determines whether the team will ever move out of this stage. Some team members will focus on minutiae to evade real issues. The storming stage is necessary to the growth of the team. It can be contentious, unpleasant and even painful to members of the team who are averse to conflict. Tolerance of each team member and their differences needs to be emphasized. Without tolerance and patience the team will fail. This phase can become destructive to the team and will lower motivation if allowed to get out of control. As group members continue to work, they will engage each other in arguments about the structure of the group which often are significantly emotional and illustrate a struggle for status in the group. These activities mark the storming phase: Lack of cohesion, Subjectivity, Hidden agendas, Conflicts, Confrontation, Volatility, Resentment, anger, Inconsistency, Failure. Supervisors of the team during this phase may be more accessible but tend to still need to be directive in their guidance of decision-making and professional behavior. The groups will therefore resolve their differences and group members will be able to participate with one another more comfortably and they won't feel that they are being judged in any way and will therefore share their own opinions and views†¦ Norming The team manages to have a one goal and come to a mutual plan for the team at this stage. Some may have to give up their own ideas and agree with others in order to make the team work. In this stage, all the team members takes the responsibility and have the ambition to work for the success of the goals of the team. Group members establish implicit or explicit rules about how they will achieve their goal. They address the types of communication that will or will not help with the task. Indicators include: Questioning performance, Reviewing/clarify objective, Changing/confirming roles, Opening risky issues, Assertiveness, Listening, Testing new ground, Identifying strengths and weaknesses. Performing Some teams will reach the performing stage. These high-performing teams are able to function as a unit as they find ways to get the job done smoothly and effectively without inappropriate conflict or the need for external supervision. Team members have become interdependent. By this time they are motivated and knowledgeable. The team members are now competent, autonomous and able to handle the decision-making process without supervision. Dissent is expected and allowed as long as it is channeled through means acceptable to the team. Supervisors of the team during this phase are almost always participative. The team will make most of the necessary decisions. Even the most high-performing teams will revert to earlier stages in certain circumstances. Many long-standing teams will go through these cycles many times as they react to changing circumstances. For example, a change in leadership may cause the team to revert to storming as the new people challenge the existing norms and dynamics of the team. Groups reach a conclusion and implement the solution to their issue. Indicators include: Creativity, Initiative, Flexibility, Open relationships, Pride, Concern for people, Learning, Confidence, High morale, Success, etc. Adjourning Tuckman later added a fifth phase, adjourning, that involves completing the task and breaking up the team. Others call it the phase for mourning. A team that lasts may transcend to a transforming phase of achievement. Transformational management can produce major changes in performance through synergy and is considered to be more far-reaching than transactional management.

Latin America’s Access to International Capital Markets: Good Behavior or Global Liquidity?

Latin America gained independence in early 19th century. From that time on, it showed active participation in international business endeavors through borrowings. The active participation of Latin America in international capital markets started when independence wars emerge in the history of the region. The series of borrowings by Latin America to international capital markets was stopped when several Latin American countries defaulted in its payments. Hence, international markets disappeared before the Latin American countries as a source financial aid. In the year 1970, Latin America participated again in having access to international capital markets. But, that participation became short-lived due to the fact that Mexico defaulted in its financial obligations with international capital markets. As a result, all Latin American countries lost access to international borrowings. There are three main questions that trigger the people’s minds in relation to the research study. The first question is anchored on whether or not the erratic international capital markets affect the boom-bust pattern in Latin America’s participation in international borrowings. The second question is posed on whether or not the volatile nature of Latin America’s economies caused the boom-bust pattern in Latin America’s participation in international borrowings. And the third question pertains to whether or not international primary gross issuance is vital to Latin America’s economic condition. In line with that, a collection of issuance data for twenty Latin American countries was completed which resulted to the discovery of three groups of typical economies. The first group of typical economies pertains to those Latin American countries with active participation in international capital markets which include Argentina, Brazil, Chile, Columbia, Mexico, and Venezuela (Fostel & Kaminsky, 2007, p. ). The second group of typical economies is one with more limited access to intentional borrowings which is composed of Bolivia, Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras, Jamaica, Panama, Peru, and Uruguay (Fostel & Kaminsky, 2007, p. 1). The third group of typical economies is one without participation in international markets and with no international issuance bond and equity which is composed of Haiti, Nicaragua, and Paraguay (Fostel & Kaminsky, 2007, p. 1). The first group is the focus of the research study for the purpose of examining whether or not good behavior or global liquidity is the cause of the boom-bust pattern of Latin America’s participation in international capital markets business activities. Basically, the research paper revolves around the explanation on Latin America’s access to international markets. The performance of the trade account and the development of financing in soaring, average, and stumpy income countries are discussed with clarity. Besides, the skillful presentation about the evolution of transfers involving official and private capital flows is apparent. The in-depth discussion about the three international capital markets like bonds, equity and syndicated loans of which some Latin American countries gained access provides readers the necessary knowledge about the topic. The data presented by the researchers with respect to international gross issuance among the countries that belongs to the first typical economies is useful in understanding the development of the participation of Latin America in international capital markets. Hence, the research paper is successful in giving complete and reliable information regarding Latin America’s access to international borrowings. Finally, global liquidation may be considered vital to access in international capital markets for Latin American countries, but still good behaviors matters most. This fact was exemplified by the positive performance of Argentina, Brazil, and Chile in terms of financial obligation payments during the 1990s (Fostel & Kaminsky, 2007, p. 1). The result of such superior performance is eventual macroeconomic stabilization.