General Mills Inc. Executive Summary Essay Example for Free

General Mills Inc. Executive Summary Essay Executive Overview General Mills (NYSE:GIS), our company, is a global consumer foods company. We develop distinctive value-added food products and market with our unique brand names. We work continuously to improve our established products and to create new products that meet our customers’ potential needs and preferences. Our company has $14.88 billion in sales last year. Our sales has grown substantially throughout the years due in large part to our popular brand names, this however is only part of the reason that we has been so successful. We markets global brands such as Green Giant, Old El Paso, HÃ ¤agen-Dazs, Yoplait, Cheerios, Betty Crocker, Bisquick, Progresso and many others with competitive prices. The average U.S. shopper purchases at least one of our products every time they visit the grocery store. In this business model for our company, we include the important inputs and assumptions for the Balance Sheet (historical and future data), Income statements and other estimated model – WACC, Terminal Value, Enterprise Value, Stock Price, etc. After estimating enterprise values in the future, we can find that our company is undervalued. Stock holders are supposed to add holdings of shares and gain more equity. Analysis of the Model All the statistics used in this model can be found in Google Finance, Yahoo Finance and Bloomberg. In calculating the ratios and forecast financials for our company, some trends are difficult to estimate because the data online is not all included. Once we had the ratios calculated, we can find trends and used them to forecast out the balance sheet, Income statement and cash flow statement for the next five years, which would bring us to 2016. Revenue Growth – According to the Sheet FSM-Input, we can find the percent growth % for the last four years are 9.73%, 7.61%, 0.72%, 0.57%. Because it changes a lot in the five years and the rate in recent two years is really low. We use the average growth rate for the next five years. So we are forecasting settling into annual growth of 4.66%, more in line with long-term general growth trends. COGS – In the same sheet, the gross margin from 2007 to 2011 is 39.39%, 39.05%, 38.73%, 42.77%, and 43.21%, in line with analyst forecasts which are also in line with company guidance. These margins are increased from the estimates. We also use the average data for the next five years. SGA – Increase in SGA to 21.44% of revenue for 2011 is under a trend of increasing from 19.21% these five years. We generally forecast a decrease to 20.38% (average) for 2012 and thereafter. It should be a slower revenue growth in the long term, so as for SGA. Tax Rate – Average Income tax rate is 33.8% for the next five years, which between 29.62% to 37% in the last five years. CapEx – Accord the increasing trend of the last five years for CapEx of revenue, we give the assumption that it will increase by 0.5% each year in the next five years. As most of the data are close to this level, we think this assumption appears justifiable. Cost of Debt, Cost of Equity – we used the data of year 2011 to estimate the future value – for the value of WACC. All the data are collected from Bloomberg. Also, the cost of equity can be calculated by CAPM, as the risk-free rate plus the Market Risk Premium multiplied by Beta. Beta – calculated by running a regression comparing yearly returns of GIS for the last five years, and modified with the information from Bloomberg. Risk free Rate – calculated as the average yield on the 10 year Treasury rate over the last six months. In addition, the interest rate for cash and short term debt is almost zero here. Growth rate – we used the dividend growth rate here, as the dividend for last four years as follows: 1.29, 1.22, 1.12, and 0.96. We calculate the increase rate and select the minimum one 1.66%. It is used for the current Terminal Value and the following estimation of equity value. From the Balance Sheet and the Ratio analysis, we can calculate the capital structure of our company. And the above is the result of current value. Our WACC is almost constantly these years – around 5.50% via from 5.04% to 5.82%. We also use the scenario analysis for how the WACC and growth rate affect enterprise value and equity value. The full report shows all the forecasting data for 2012 – 2016, it clearly estimate the financial trend of our company (attachment). For the data used in this model, some of them are current data, the other are historical or most recently or average number. It only depends on actually situation – for which method is much more realistic. Conclusion The current enterprise value is $41,335 million and the equity value is $34,455 million. According to yahoo finance, the shares outstanding of our company are 647.31 million, so we can calculate the stock price for next year is $53.23. It will increase in following years. Also, the WACC of our company is always around 5.5%, we can use Monte Carlo Simulation to run the estimation of Equity value by changing WACC, growth rate and COGS/Revenue each year. The random calculation displays as the full report in attachment. The most important thing is that, according to our estimation, the next five-year we will get additional funds needed increasingly with no surplus funds; which means, our assets increase faster than our liabilities. Therefore, our company goes well in the short term future based on this model. In conclusion, General Mills Inc. is undervalued currently, it is recommended for customers to add holding of stock shares. Overall, our company has a long history of impressive performance and has returned significant value to its shareholders. While we operate in a mature industry with limited growth potential, we have a proven ability to seek out new opportunities and continue to grow revenue year after year. We should do our best to let us continuous be one of the world’s most respected packaged food producers. Sources Market Watch. General Mills Inc. Company Profie (2012). Retrieved from: http://www.marketwatch.com/investing/stock/gis/profile General Mills Inc. (GIS) Annual and other reports. (2012). Retrieved from: http://phx.corporate-ir.net/phoenix.zhtml?c=74271p=quarterlyearnings General Mills Inc. (GIS). Key Statistics. (2012). Retrieved from: http://finance.yahoo.com/q/ks?s=GIS+Key+Statistics General Mills Inc. (GIS) Current key data. (2012). Retrieved from: http://www.google.com/finance?q=gis Historical Data from Bloomberg.

Compared....Locke and Hobbes Essay Example for Free

Compared.Locke and Hobbes Essay Locke and Hobbes were both social contract theorists, and both natural law theorists (Natural law in the sense of Saint Thomas Aquinas, not Natural law in the sense of Newton), but there the resemblance ends. All other natural law theorists assumed that man was by nature a social animal. Hobbes assumed otherwise, thus his conclusions are strikingly different from those of other natural law theorists. In addition to his unconventional conclusions about natural law, Hobbes was fairly infamous for producing numerous similarly unconventional results in physics and mathematics. The leading English mathematician of that era, in the pages of the Proceedings of the Royal Academy, called Hobbes a lunatic for his claim to have squared the circle. The Grolier encyclopedia contrasts Locke and Hobbes as follows: Locke’s considerable importance in political thought is better known. As the first systematic theorist of the philosophy of liberalism, Locke exercised enormous influence in both England and America. In his Two Treatises of Government (1690), Locke set forth the view that the state exists to preserve the natural rights of its citizens. When governments fail in that task, citizens have the right—and sometimes the duty—to withdraw their support and even to rebel. Locke opposed Thomas Hobbes’s view that the original state of nature was â€Å"nasty, brutish, and short,† and that individuals through a social contract surrendered—for the sake of self-preservation—their rights [ ] Locke addressed Hobbes’s claim that the state of nature was the state of war, though he attribute this claim to â€Å"some men† not to Hobbes. He refuted it by pointing to existing and real historical examples of people in a state of nature. For this purpose he regarded any people who are not subject to a common judge to resolve disputes, people who may legitimately take action to themselves punish wrong doers, as in a state of nature. Second treatise, Section 14 It is often asked as a mighty objection, where are, or ever were, there any men in such a state of Nature? To which it may suffice as an answer at present, that since all princes and rulers of â€Å"independent† governments all through the world are in a state of Nature, it is plain the world never was, nor never will be, without numbers of men in that state. I have named all governors of â€Å"independent† communities, whether they are, or are not, in league with others; for it is not every compact that puts an end to the state of Nature between men, but only this one of agreeing together mutually to enter into one community, and make one body politic; other promises and compacts men may make one with another, and yet still be in the state of Nature. The promises and bargains for truck, etc., between the two men in Soldania, in or between a Swiss and an Indian, in the woods of America, are binding to them, though they are perfectly in a state of Nature in reference to one another for truth, and keeping of faith belongs to men as men, and not as members of society. Second treatise, Section 17, 18, 19 And hence it is that he who attempts to get another man into his absolute power does thereby put himself into a state of war with him; it being to be understood as a declaration of a design upon his life. For I have reason to conclude that he who would get me into his power without my consent would use me as he pleased when he had got me there, and destroy me too when he had a fancy to it; for nobody can desire to have me in his absolute power unless it be to compel me by force to that which is against the right of my freedom- i. e. make me a slave. To be free from such force is the only security of my preservation, and reason bids me look on him as an enemy to my preservation who would take away that freedom which is the fence to it; so that he who makes an attempt to enslave me thereby puts himself into a state of war with me. He that in the state of Nature would take away the freedom that belongs to any one in that state must necessarily be supposed to have a design to take away everything else, that freedom being the foundation of all the rest; as he that in the state of society would take away the freedom belonging to those of that society or commonwealth must be supposed to design to take away from them everything else, and so be looked on as in a state of war. This makes it lawful for a man to kill a thief who has not in the least hurt him, nor declared any design upon his life, any farther than by the use of force, so to get him in his power as to take away his money, or what he pleases, from him; because using force, where he has no right to get me into his power, let his pretense be what it will, I have no reason to suppose that he who would take away my liberty would not, when he had me in his power, take away everything else. And, therefore, it is lawful for me to treat him as one who has put himself into a state of war with me- i. e. , kill him if I can; for to that hazard does he justly expose himself whoever introduces a state of war, and is aggressor in it. And here we have the plain difference between the state of Nature and the state of war, which however some men have confounded, are as far distant as a state of peace, goodwill, mutual assistance, and preservation; and a state of enmity, malice, violence and mutual destruction are one from another. Men living together according to reason without a common superior on earth, with authority to judge between them, is properly the state of Nature. But force, or a declared design of force upon the person of another, where there is no common superior on earth to appeal to for relief, is the state of war; and it is the want of such an appeal gives a man the right of war even against an aggressor, though he be in society and a fellow-subject. Thus, a thief whom I cannot harm, but by appeal to the law, for having stolen all that I am worth, I may kill when he sets on me to rob me but of my horse or coat, because the law, which was made for my preservation, where it cannot interpose to secure my life from present force, which if lost is capable of no reparation, permits me my own defense and the right of war, a liberty to kill the aggressor, because the aggressor allows not time to appeal to our common judge, nor the decision of the law, for remedy in a case where the mischief may be irreparable. Want of a common judge with authority puts all men in a state of Nature; force without right upon a manSRC=s person makes a state of war both where there is, and is not, a common judge. Hobbes, on the contrary, asserts that without subjection to a common power, men are necessarily at war: Hereby it is manifest, that during the time men live without a common Power to keep them all in awe, they are in that condition which is called Warre; and such a warre, as is of every man, against every man. In on this issue, and also on the meaning of civil society, Hobbes’s position is the same as the fascist position: Peace is actually war in disguise. This is why Hobbes argued that corporations should be suppressed and replaced by the direct exercise of state power. This is why Hitler thought that declaring war on America was merely a meaningless trivial symbol. It was not merely a symbol. Peace is not merely maneuvering preparatory to predatory attack. Unlike the communists and the fascists Hobbes had no specific concrete plan for suppressing competition and the pursuit of conflicting goals, and he might well have disapproved of the details of the fascists plans, but he clearly regarded their objectives as a desirable and popular part of any good state. Locke was the seventeenth century precursor of classic liberalism, and Hobbes was the seventeenth century precursor of modern totalitarianism, particularly fascism. Hobbes argued that what we today call civil society should exist only by the power of the state, and to the extent that it existed independent of the state, for example private associations, corporations, and political discussion, it should be suppressed. This measure is the distinctive characteristic of modern totalitarianism, both communist and fascist, though Hobbes’s reasoning in favor of this measure is fascist, rather than communist. Chapter 29 of Hobbes’s Leviathan: For men, as they become at last weary of irregular jostling and hewing one another, and desire with all their hearts to conform themselves into one firm and lasting edifice [ ] I observe the diseases of a Commonwealth that proceed from the poison of seditious doctrines, whereof one is that every private man is judge of good and evil actions. [ ] Another infirmity of a Commonwealth is the immoderate greatness of a town, when it is able to furnish out of its own circuit the number and expense of a great army; as also the great number of corporations, which are as it were many lesser Commonwealths in the bowels of a greater, like worms in the entrails of a natural man. To may be added, liberty of disputing against absolute power by pretenders to political prudence; which though bred for the most part in the lees of the people, yet animated by false doctrines are perpetually meddling with the fundamental laws, to the molestation of the Commonwealth, like the little worms which physicians call ascarides. Hobbes’s theory has far more in common with fascism, than it does with Locke’s theory. To say that they were both social contract theorists is like saying that Adam Smith believed in the labor theory of value and Karl Marx believed in the labor theory of value, therefor Smith was a Marxist or Marx was a Smithian. Locke’s social contract had as much in common with Hobbes’s social contract as Ricardo’s labor theory of value had with Marx’s labor theory of value. Fascism is largely corporatism, indeed many fascists argued that fascism simply was corporatism, that race theory was irrelevant. Certainly Mussolini and Franco held this view. Corporatism derives from â€Å"one body† (corpora=body), not from corporation. Same metaphor as Hobbes’s Leviathan, and the cover of Hobbes’s book, and, in the case of fascism, the same rationale. The race, the nation, the folk, or whatever, are to be welded into a single entity, by the application of whatever force necessary Hobbes favored unlimited power for the state, and he favored it for the purpose of ending all conflict and contention. He saw all non-state society as simply bad happenings that should be suppressed. If people go about their material lives freely they will come in conflict, and Hobbes regards it as the duty of the state to prevent such conflict. Locke argues that government is legitimate, but only legitimate in so far as it acts within the limits of this implied contract. Like any unwritten contract, it is not at all clear just what precisely the limits of Locke’s contract are, and Locke clearly considered that his contract could stretch a long way, but is equally clear that modern twentieth century governments are substantially breaking it, for the majority of disputes that an ordinary citizen finds himself involved in are disputes with the state, and in these disputes, for example with the IRS, the state acts as judge in its own cause, a clear violation of the Lockean contract. A state cannot be as large and intrusive as modern states are without finding it necessary to substantially violate Locke’s implied contract in many ways. Locke’s contract was for a judge. Hobbes’s contract was for a master. While in some situations the distinction between these two roles may be fuzzy, it is clear that vast majority of people today encounter the state in the role of master, rather than judge, thus the modern state is far more Hobbesian than Lockean, though it is still very far from the absolutist government that Hobbes commended. .

IKEAs Marketing and Expansion Strategy Analysis

IKEAs Marketing and Expansion Strategy Analysis This report is a follow on from the in class IKEA presentation based on the IKEA case study IKEA-Managing global expansion. Being a multinational successful organisation there would be various corners to look at in order to analyse IKEA however this report will focus on the analysis of IKEAs globalization and internationalization models, as well as key opportunities and threats faced by IKEA and their cultural web and how it supports their current strategies. Overview of the furniture market Based on Mintel research database, the sales of furnishings and houseware in the top 25 global economies generate annual revenues of more than $270 billion. However the sales of furniture were hit hard in 2008 and 2009 by a combination of fewer housing transactions and the recession. With the exception of IKEA, US companies (Furniture Village, Homebase, DFS etc) dominate the global home furnishings landscape, yet the worlds most lucrative regional market is still Europe. Buying furniture nowadays is not as simply organised as in the past where you just had to take what was available from the few retailers and wait weeks before it was delivered. Today competition is all about offering the right product, for the right money, in the right way. Just under half of adults (25 million) look for lasting quality when buying furniture. Retailers need to prove their quality with customer reviews and demonstrating how items can stand up to heavy usage especially in households with kids. Service is important and four in ten adults are influenced by the presence of knowledgeable and helpful staff when choosing between stores. The role of staff has shifted from one of a sales person to be one of consultant. Further visiting showrooms is a key part of the buying process for furniture as it gives the customer an idea about their wanted environment however focus remains on price. Overview of the company IKEA Group is a global and privately-held retailer of Scandinavian (Swedish) designed home furniture and accessories and now retailer of its own food label. Their products range focuses on good design, good quality and function at a low price. In the mid-2000s the company was leader in the flat-pack furniture business generating annual sales of 21.5 billion euros. The company has the biggest market share in the UK. It operates about 301 stores overall in 36 countries most of them in Europe, North America, Asia and Australia. The company was founded by Mr. Ingvar Kamprad in 1943 and although partly controlled by the Kamprad family, it is under the ownership of the Stichting INKGA group, a charitable foundation registered in the Netherlands. IKEAs main UK competitors include Asda, Argos, Debenhams, Next, Tesco, John Lewis etc. The Difference between Internationalisation and globalization Globalisation entails all the operations undertaken by an organisation that envisions itself present in many countries worldwide. IKEAs past globalisation strategy was based on one design fits all which meant that initially they did not adapt to the local markets. However as they expanded in Japan and the US they soon realised that they had to tailor made their products to fit the countrys specifications and requirements if they wanted to succeed. For instance, the US customer preferred big and ample furniture and houseware while in Japan they looked for small and simple items to fit their small living environments. In opposition internationalization is at the other end of the globalization as it takes into consideration what each particular market has to offer and not what the company has to offer to the market. IKEAs strategy has adapted over the years in a way that they think globally and act locally. IKEAS INTERNATIONALIZATION STRATEGY Key Opportunities IKEAs main strength is its international brand recognition built up on low product prices and design. Its product portfolio caters for most lifestyles and budgets. The implementation of cost leadership strategy in order to penetrate new markets is a definite strength and opportunity IKEAs costs were/are approximately 30%-50% below competition prices. The costs of transportation were cut by 80% by providing furniture in flat packs. By offering simple and modern designs and by introducing cash and carry and self service concepts, IKEAs stores were guaranteed a success. After investigating the German market IKEA took advantage of the poor organisational strategy of the existing furniture dealers in the country and changed its operations by providing customers immediate delivery of quality goods at low prices when they opened their Munich store. Their West German market has expanded through aggressive advertising despite the challenges encountered by the law suits initiated by its competitors and trade associations. In the UK, IKEA provided unique products, low prices and cashcarry service. In this way the firm achieved competitive advantage over its existing competitors that were taking as long as 3 months to deliver the goods. Opposed to their competition, IKEA demonstrated efficiency and skill. As mentioned previously, in their US placement IKEA had to adapt their product range to suit the requirements of the American market. They redesigned the store layout to provide more directions and shortcuts for customers who opposed to the idea of wandering through the store. They also increased the size of their beds, bed linens, sofas, armchairs etc., as the European sizes were too small for the American customer. In addition they also offered a customization of their products. Further their US expansion IKEA made a bold move by opening a mega store in Chicago with a new layout (double the size of a normal IKEA store). It had 3 levels that included a self service warehouse, customer service and cafe on the first floor as well as a showroom and a market place on the other floors. From there on the stored were designed to improve the direction and flow of customers. IKEA also offered home delivery and assembly for an extra charge. The US expansion was a success due to these measures and strategy adaptation despite their competition continuously replicating IKEAs products. Threats The organisations main weakness is that they are very much reliant on the European market where 82% of its stores are located. The threat here is represented by the competition as IKEAs methods have been copied by other retailers that have introduced similar product ranges at low prices. Market saturation is another threat as with the development of e-commerce in each European country customers can compare prices, reviews and switch to alternative suppliers if necessary. Further threats are represented by the recession in Europe as well as the adverse effect of a weak dollar on sales in the US. Political and economical instability of the Chinese and Russian markets are also a potential threat since IKEA is planning on expanding in these two markets. However IKEA is successfully counteracting its main weakness (over reliance in Europe) with its key opportunity expansion in the emerging markets in Asia and Eastern Europe. The Cultural Web and the Organisational Culture The organizational culture describes the psychology, attitudes, experiences, beliefs and values (personal and cultural values) of an organization which define its environment or it can simply describehow things are done around here To analyse IKEAs cultural web we need to use the Cultural Web model. The Cultural Web identifies six elements that help to make up the paradigm the pattern or model of the work environment. By analyzing the factors in each, we can see: what is working, what isnt working, and what needs to be changed. Stories The hero in the company is Ingvar Kamprad seen by the employees as a visionary who worked hard, lived simply and gave an example to all. In fact IKEA is all about the Swedishness a simple culture with simple values such as humbleness, simplicity, teamwork etc. The brand image varies in different countries depending on the countrys culture. eg: in Sweden (low priced, low quality brand), UK (poor service) etc. Rituals and Routines The Company strongly believes in staying close to its customers. In fact every store is a parent-friendly environment people come first. However IKEA is also focused on its people and their working way. Employees dress informally and work in a relaxed office environment with open plan floors. On their website IKEA remarks that A career in IKEA is not a ladder, is what and where you make it. They expect teamwork and mistakes as long as the employee learns from them. However IKEA is also about making the impossible in cost cutting. In fact, staff travelled economy and took buses or stayed in hostels. There are wall stickers to turn off lights, taps and computers after each use. Stores that cut costs the most receive a reward from the management. Symbols It is normal to find the same features in every IKEA store. For instance, all shop floor staff dress in uniform (yellow blue) for the Swedish flag colours. There is a restaurant, a food hall a childrens corner as well as little shopping helps such as pencil, paper, shopping bag, and tape measure. As mentioned previously, IKEA is all about Swedishness and focus on a minimalistic and simple design delivered in their custom flat packs. Their main symbol is the brand name and the brand colours all significative of Sweden and their Swedish founder Kamprad. Organisational Structure Typical of IKEAs organisation is their informal management which is presented in a non-hierarchical and caring manner. There is typically only 3 hierarchical levels of responsibility between the store manager and the employee. Every month there is the so called Anti-bureaucrat week where management spend a whole week in the warehouses and stockrooms. Appropriate training programmes are given to all company management. However as always on IKEA s organisational structure is their focus on cost cutting and as such they incite all designers and material buyers on cost reductions. Control Systems At the centre of the IKEAs control systems is quality control. Emphasis is put on delivering good quality, sturdy furniture that passes their standards. Further way to control their operations is by making sure that the management works closely with the staff making also sure that their warehouses are correctly labelled in their products. Rewards are given to the stores that generate more profit and that cut more costs considering that one of the principles of IKEAs strategy is cost cutting. Power Structures Senior management was predominantly Scandinavian and only in the last 5 years the strategy of only forwarding employees who were Scandinavian or Swedish speaking into management has changed. However all employees are involved the individual store operations and encouraged in their work thanks to their friendly management strategy. Employees are in fact egged on to take responsibilities in order to assess their performance; their ideal is that every employee is important to IKEAs success. The Paradigm IKEAs cultural web supports its current strategy. In the past IKEA favoured the Sweds for managerial programmes but in the last 5 years international career management is now seen essential to sustaining international growth but more steps and measures need to be taken to ensure that other backgrounds are fitted into the managerial programmes. The organizational career culture supports the corporate strategy with suitable structure and rewards. IKEAs cultural values are things like informality, cost consciousness and a very humble and down to earth approach as passed down by Kamprad along with responsibility and teamwork and ensuring that their employees are highly motivated and committed. Cultural and Corporate Strategy Changes Put more emphasis and work on employees of other nationalities/backgrounds in order to create a multicultural environment by having a diverse management and strengthen IKEAs corporate view being a multinational group. Since all IKEAs stores are out of the city centres many customers in the big metropolis do now own a car or have suitable transportation in order to be able to shop in IKEA therefore a possible strategy change could entail IKEA to have smaller retail outlets near city centres perhaps selling furniture on catalogue but definitely having stock in-store for houseware and smaller items. Many IKEA competitors offer free delivery on orders above a certain amount; as we have previously shown competition is fierce in Europe therefore this measure could ensure that the profit is taken by putting a minimum spending limit in order to qualify for free delivery (e.g. free delivery on orders above 150 GBP or more) and would therefore open IKEA to more budget oriented customers. Another suggestion to attract more customers would be to have quick assembly tips/class in store for the non-diy oriented customers. IKEA is all about self service but not many customers are skilled to deal with DIY and assembly. This measure would make sure that their products are opened to every type of customer. Self service warehouse and furniture pick up places all contain some long numbers in regards to the desired item. Perhaps IKEA could implement a new system where warehouses havelabels, not numbers making it easier on customers. (e.g. Section: Chairs. Aisle-3, Type: Victa) Conclusions IKEAs main strategies remain the same; success is ensured by adopting aggressive price strategies and aggressive advertising as well as a wide product range unlike any competitor at the moment. Service however needs to come to focus to improve customer purchasing and still maintain their market position as other cheaper players are entering the market such as the supermarkets. Is getting any bigger better?

Confucian Philosophy and Corporate Responsibility Essay -- essays rese

Freedom devoid of responsibility would result in the collapse of the social network. It would cause strife among individuals, between individuals and society, and essentially would lead to the sacrifice of the future in order to fulfill short-term desires. Coming under much scrutiny for allegedly doing just this is today’s dominant institution, a legal establishment with pervasive influence on contemporary life: the modern corporate enterprise. We live in a world plagued with human exploitation and severe environmental degradation. Many would claim that behind this unfair and unsustainable global situation lies the profit-hungry hand of corporate power. Accused and often found criminally guilty in court of having enormous and often hidden harms, one might ask exactly what a corporations ethical responsibilities are towards the world in which it functions. Attitudes toward the subject of responsibility are globally and historically diverse, however. Due to cultural differences certain traditions are heavily concerned with responsibility and societal harmony while others are far more preoccupied with free choice and individual rights. Looking to Confucianism, the philosophy of Confucius (or King fu-tzu), one can see a philosophy that places a great deal of emphasis on human responsibility. Confucius is, in fact, the most influential thinker in human history if influence were to be measured by the number of people who have lived in accordance with a philosopher’s vision. (Ames, 28) Turning to the scriptures outlining the teachings of this Chinese sage who lived over 2,500 years ago, it would be unproblematic to prove that the modern corporation has been and continues to be unethical by Confucian standards. That is not the purpose of this essay, however. This essay will explore concept of corporate institutions and their ethical accountability using Confucian philosophy a guide. For the purposes of this essay, focus will be given to the Confucian Analects and interpretations of it. This compilation of quotes, conversations and anecdotes is also referred to as The Lunyu and remains the primary source document of Confucian philosophy. Interestingly, despite being revered as Chinas first and greatest teacher, there is no coherent system of thought laid down by Confucius himself. Much like Socrates, Buddha and Jesus Christ, Confucius’ many disciples are entirely... ...gree with. Whether it is due to innate predispositions or learned characteristics, human beings, despite admittedly irrational behaviors, are also moral beings. We are characterized by our freedom of choice, consciousness of abstract thought and largely by a sense of responsibility. As a species we are not solely interested in the process of an action, but also its motives and its consequences. One could argue that attaining a manageable balance between action and responsibility has been a fundamental issue in all past and present traditions and philosophies. In a sense, whether a concrete proposal for universal Confucian ethic is successfully put in place is not of primary importance. The significance is found in the ethical attention of the modern day corporations and the consumerist world that supports them , shifting in a fundamental way from rights-based morality, to a more sustainable, responsibility-emphasized ethic. While perhaps a corporation itself has is devoid of moral obligations, those who function within it, along with the public supporters of it are not. In and contributing to the harmony of the universe, Confucian ethics will have an instrumental role to play.

energy :: essays research papers

First off I would like to Congratulate Ms. President on your second term, I have always supported you and what you think is best for this country. With you as president I feel that this country will be a lot safer and it will be better for the people. I also want to take the time to thank you Ms. President on picking me to help lead us out of this energy problem we are going threw. As the headman of the department of energy, I will lead us into a bright new future for this country. My plan will save us million, who knows maybe even billions down the line!   Ã‚  Ã‚  Ã‚  Ã‚  The problem that we face know is that we are running out of oil, and fast. Oil has been a big part of our energy over the last 200 years, and it has worked great, by heating our houses and running out cars. But now with oil running out fast we need to turn to a knew source of energy. One that will be more efficient, one that will be clean, one that doesn't require to be thrown away after use, one that we can make free to the public at one point, one that we can use for the rest of out lifetime.   Ã‚  Ã‚  Ã‚  Ã‚  The sun has been a big par of life, no matter where you come from or what you believe in the sun is the most important thing to us. Without this big ball of fire, there wont be any light, crops wound not be able to grow, and those who eat the crops would die because they would have no food, and those who eat the animals that eat the crops would die because there wound be any animals left, and life as we know it would come to an end. This shows you how strong the sun actually is, it has the power to end life. The sun also creates so much energy on a bright, sunny day, the sun shines approximately 1,000 watts of energy per square meter of the planet's surface. What I am proposing is that we use the sun to run the United States of America. This will be a long plan and it will take a long time to complete its goal but with patience, and a good team to work with we can pull this plan together.

Plagiarism and Computers :: Cheating Education Essays

Plagiarism and Computers missing works cited What is Plagiarism? Plagiarism is defined in the dictionary as "appropriating as one’s own the writing, ideas, etc. of another". Plagiarism.org goes into more detail when it defines plagiarism as "the improper use, or failure to attribute, another person's writing or ideas (intellectual property). It can be as subtle as the inadvertent neglect to include quotes or references when citing another source or as blatantly unethical as knowingly copying an entire paper verbatim and claiming it as your own work." I believe they make this longer definition on a web page because plagiarism has become a bigger problem since the creation of the Internet. The Internet is a fast easy way to cheat on papers and ideas. It is incredibly simple to download entire term papers for free or for a small fee. Sometimes you don’t have to pay for a complete essay. Sometimes submitting your own essay is all you need to do to gain someone else’s work. Term paper mills have become a popular activity among high school and college students. If you look up forgery-encouraging web pages, it is easy to see that there are many options for getting effortless information and material off of the Internet. What are the Consequences? The consequences of appropriation can be severe. Even on this paper’s guidelines, the punishment for plagiarism is either failing the class or dismissal from the university, depending on the severity of the piracy. In several of my classes, forgery results in failing the work that you plagiarized for. Many teachers do not appropriately check for fraudulence in work. They don’t feel that they have the time for checking each paper individually for copied information. I can understand how this would seem more work than it is worth in most instances, but catching a few plagiarists per class and publicly punishing them would help maintain class integrity. The rest of the class would be forewarned against further cheating. Boston University has filed a lawsuit against a few of the Internet term paper companies. There is no guarantee that the university will win the lawsuit. It is quite a bit like the lawsuit Metallica filed against the piracy of the web program Napster. There was a lot of publicity about Napster because it was a file-sharing program that some artists claimed hurt their album sales. The sharing of music on the Internet paired with the new technology of CD burners can have an impact on the music market because people will burn their own CDs rather than paying the ridiculously high prices for them.

Btec Buisness Level 3 Unit 1

BTEC LEVEL 3 IN BUSINESS UNIT 3: INTRODUCTION TO MARKETING Assignment Brief Tesco’s and Oxfam’s Concepts of marketing- marketing= a social and managerial process by which individual and groups obtain what they need and want through creating and exchanging products and value with others. Core marketing concepts Markets Exchange transitions & relationships Value satisfaction and quality Products Needs wants and demands B. define aims and objectives Aims: A purpose or intention; a desired outcome Objectives c. Private companies may issue stock and have shareholders.And are invested by individuals. However, their shares do not trade on public exchanges and are not issued through an initial public offering. In general, the shares of these businesses are less liquid and the values are difficult to determine, an example of a private sector is Warburton’s, their aims are to maximise profits or increase value of shares. Public sectors offer shares to the general public, A Public sectors stock can be acquired by anyone and holders are only limited to potentially lose the amount paid for the shares.An example of a public sector would be Tesco’s because they provide a service to the community, another example for Tesco’s being in the public sector is so they can expand internationally, private sectors however would only be able to stay nationally because it s easier to control shares. Tesco’s aims would be to boost the national economy and also to maximise profits. Non profit companies would be charity and sometimes government run organisations. Any money earned must be retained by the organization, and used for its own expenses, operations, and programs.An example of a non profit sector would be Oxfam because they use the money invested in their organisation to help people suffering poverty poor housing in third world countries globally and to invest also using the money to use on their expenses programs etc. Their aims are to imp rove poverty and lifestyle in third world countries. Introduce and explain the two businesses you will be investigating. Refer to their business activity i. e. what they do to make their money, their size and history. Refer to task C and state which sector they belong within. Focus upon and explain one product or service provided by each business.D. i will be investigating Tesco’s and Oxfam. Tesco’s is the third most successful retailer in the world, and they sell all general products needed in a household including, food, clothes, furniture, mobile phones etc they also sell luxury items like gaming equipment, broadband etc, Oxfam is one of the biggest charities globally, they sell clothes, books, board games, etc to make money so they can put it into their company so they can cover expenses and support programs, they also accept donations so they can help other third world countries that are suffering from poverty poor housing etc.Tesco’s was founded in 1942; T esco’s was founded in 1919 by jack Cohan in east London. Oxfam belongs to the non profit sector, they provide products that are cheap so they can provide for programs across the world and supply their organisation with important resources. Tesco’s belongs to the public sector and offer basic products and necessities such as food, housing etc. And services like broadband and banking etc. E. tescos: they want to make cheaper prices so they would be able to get a larger quantity of products sold.Oxfam: more of a variety of products to sell, so customers have more of a choice, this will increase the variety of customers. F. organisational objectives are different from marketing objectives . Marketing objectives are giving a time frame in which they should achieve it, organisational objectives are the overall objectives and are the ones that are the most important. g. The marketing objectives can make you get closer to an organizational objective because it might lead to th e same path. For example marketing objectives are like little steps towards organizational objective. h.Tesco’s marketing objectives is to make prices fair for customers and beneficial for Tesco’s, and also expand their business into different companies. Oxfam’s marketing objectives would be to open more Oxfam shops across the u. k, so they can benefit their programs resources etc. i. Tesco’s might expand their brand into different retailers so it’ll gain more popularity and might even be a leading bran in food clothes etc ii. Oxfam might open stores internationally so will lead to make more money so they can use it so they can run more charitable programs and lead to improve poverty, housing in third world countries around the world. . Explain and justify which of these your business may use when marketing their product or service (one of the businesses products/services you have explained within task d). j. if Tesco’s was marketing a certa in food product Tesco’s would use a marketing technique for example Tesco’s would advertise the product on wallpaper, leaflets ,TV etc also they would put special offers on the product e. g. 2 for the price of one k. Identify and describe the limitations and constraints upon marketing activities.For example if Tesco’s was making a new product and they were given a limited amount of money to invest in this product, this would limit how advanced this product and how useful this product would end up to be. A constraint for tescos would be the price war, all supermarkets, retailers etc want the best prices for their customers and the best prices for customers means more profit for themselves, this would subdued customers to shop at Tesco’s more than other retailers tacos is always making cuts and budgets to make low prices for customers its is a constant restraint for Tesco’s L.For each limitation and constraint explain how this may affect the marketin g operations of your two chosen businesses. The operations wouldn’t run as smoothly because you are not making enough profit to achieve those operations. The price war will affect their special offers new programs because they would have to cut those in making a better price for customers, prices are one of the top priorities for a retailer. m. Produce a comparison table stating and explaining in detail the similarities and differences between the chosen product/service of each organisation across a range of market techniques. Similarities | Differences | | |