Managment Essay Example | Topics and Well Written Essays - 250 words - 2

Managment - Essay Example Managers also need to draft a comprehensive time schedule over which the project implementation process will strictly follow. This will ensure that activities are all executed within the specified periods. This will also ensure that the project is completed within the set time schedule. Proper allocation of resources is also required, in planning, to ensure that workers are not pushed around departments in search for resources (Pinto 57). Proper allocation of resources, in a different department, will also ensure that different departments exist independently, but co-exist with other departments for mutual benefits. In addition, constant rewarding of workers is a necessity in improving their efficiency and performance. A functional organization, planning to transform into a supportive and interactive culture from adversarial culture, needs to consider a number of factors. In the first place, the organization should begin by setting up a corporate wide vision, which aims at motivating and uniting workers (Pinto 58). Secondly, they have to establish a punishment or reward system that is in accordance with their vision. Lastly, such firms need to formulate unambiguous policies that are in line with communication and authority (Pinto 59). This is significant in making fast and efficient

Rodin Essay -- Essays Papers

Rodin Like most artists, Rodin was not an overnight success. Even though he was rejected numerous times from art schools because of his art style, he prevailed in the end. Rodin, like many artists, got their inspiration from other great and famous artists. In Rodin's case, his inspiration came from Michelangelo. In Rodin's more famous works, one can see the similarities between the two artists' artwork. Rodin's parents were not wealthy, therefore, he was not able to attend an art school of his choice. His father, however, did send him to Petite École, "a training ground for commercial draftsman and practiciens--cutters and finishers of work in stone". At the age of seventeen, Rodin won his first prize for a clay model and he came in second place for one of his drawings. His teachers at Petite École encouraged him to "try for the Grande École des Beaux-Arts". He applied, but was not accepted. Not giving up hope, Rodin applied two more times, but was rejected. Determined to make a living, he worked for a large commercial designer. It was there, that he created numerous objects with his hands; anything from masks of gods to cupids. This is where he began to see that he had a future in what he loved the most, art. Even though Rodin was an artist, his career did not take off so soon. When he was 22, his sister Maria died. He anguished so much over her death that he decided to leave his art. He quit everything and decided to enter the Order of the Fathers of the Very Holy Sacrament. While living in the monastery, Rodin confided in Father Eymard, and he was the one that told Rodin to continue sculpting and not to give up. Rodin eventually realized that religion was not his calling and once he had enough money saved up, he moved into his first studio. From that point on, he was fully committed to his artwork. Rodin said that it was so cold in his studio, (he could not afford to have heat) that he would wake up and see parts of his sculptures on the floor. "Since I didn't have the money to have them cast, each day I lost precious time covering my clay with wet cloths. Despite that, at every turn I had accidents from the effects of the cold and heat. Entire sections detached themselves–heads, arms, knees, chunks of torso fell off; I found them in pieces on the tiles that covered the floor" . In 1864, Rodin created a masterpiece, something that would change his ... ...ed, he prevailed and was able to live happily; considering what a hard life he had. Rodin died in November 1917 and his common-law wife, Rose, died in February of 1917. Rodin died with having completed over 400 sculptures and 7,000 drawings.Two of Rodin's most famous pieces of work were finally shown in the Salon in 1878, The Man with the Broken Nose and the Age of Bronze. I had a chance to see several Rodins and visit his home in paris last summer and while he may reflect Michealangelo ,it was clear ,no one could deny his talent as a sculptor. His forms hold such a strong sense of motion and strength. My favorite would have to be his sculpture the Kiss, it stands in the garden de’Tolluries in paris and just left such a strong impression on me. Bibliography 1.Cunningham, Lawrence and John Reich. Culture and Values: A Survey of the Western Humanities. Vol. 2, 4th Edition. Forth Worth: Harcourt Brace College Publishers, 1998. 2.HalWilliam Harlan and the Editors of Time-Life Books. The World of Rodin: 1840- 1917.Virginia: Time-Life Books, 1978. 3.Lampert, Catherine. Rodin: Sculpture and Drawings. Hong Kong: Kwong Fat Offset Printing Co. Ltd., 1986.

Tesco V Walmart

BA. Honours Business Management BUSINESS MATTERS Business Issues: Tesco v Walmart TABLE OF CONTENTS Page 1. Introduction 3 2. Business Issues in the Retail Sector 3 3. Financial Health 5 3. 1 Tesco 5 3. 2 Walmart 7 4. Cultural Style & Leadership 9 4. 1 Tesco 9 4. 2 Walmart 10 4. 3 Ethical & Environmental Issues 12 5. Conclusions 12 6. References 13 7. Bibliography 14 1. Introduction In 2009 the grocery market in the United Kingdom was worth 146. 3 billion pounds, an increase of 4. 8% on the previous year [see Figure 1].Groceries account for fifty-two pence of every pound in retail spending [Newbold, 2010, online]. Figure 1: UK Grocery Market Performance 1998 – 2009 Source: IGD Research 2009 This report looks at contemporary business issues in the grocery sector and then compares the financial health, leadership, cultural style, ethical initiatives and environmental values of two of the biggest business names in the industry – Tesco and Walmart. 2. Business Issue sin the Retail Sector At the expense of small, specialist shops, supermarkets increasingly manage the supply chain from farm to shelf.Technological improvements in stock control and checkout scanning, for example, have lowered costs and attracted customers. Loyalty card schemes provide these superstores with an insight into consumer preferences, enabling them to better match products with customers. To increase efficiency and maintain competitiveness, supermarket chains have consolidated, resulting in a fewer number of giant companies. Consequently, manufacturers have become increasingly dependent on a small number of market outlets, giving these retailers tremendous leverage to negotiate lower prices.There is also severe competition with discounters such as Lidl. To better manage household budgets during the present credit crunch more British shoppers are shopping at these discount stores. Competition from these discounters has led the big chains to develop new strategies. For exam ple, Tesco has recently launched its new Discount range, in an effort to combat the rise of these popular, super-cheap supermarkets. Shoppers are not just attracted by low prices. The super centre or hypermarket approach means that one-stop shopping has become a reality for shoppers.Shopping at one of these large stores, possibly two to three times a week, has become a recreational event not a chore. With most shopping now done in malls or online, the traditional high street, with its parking charges, and traffic problems has suffered. There is no much talk about the dead heart of the city. To counter this trend, convenience stores [under 3000 sq feet and â€Å"opened all hours†] are increasing dramatically on the high street [see Figure 2]. With an increasing range of products and improved layouts, convenience multiples such as Spar represent the fastest growing part of the grocery market, with sales increasing by 12. %. They currently comprise 20. 5% of the total United Kin gdom food and grocery market [Tesco, 2009, online]. Figure 2: UK Convenience Stores, 2009 Source: IGD Research 2009 The large multiples have responded strongly in this market sector (e. g. Tesco Express) and have taken over some existing chains and petrol station forecourts. 3. Financial Health of Tesco & Walmart 3. 1 Tesco Tesco is the United Kingdom’s premier supermarket chain. It employs 440000 staff and operates in thirteen countries [Tesco, 2009, online]. Presently, it has a commanding, and increasing, 30. % share of the non-convenience UK grocery market [Figure 3].Figure 3: UK Supermarket Share In the financial year 2008-9, despite the economic downturn, Tesco had record profits of more than ? 3 billion, 10% more than the previous year. Total revenue rose to ? 59. 4bn, taking sales to more than ? 1billion a week for the first time. Consequently, shares in Tesco rose by 5. 5% [I. S. , 2010, online]. Figure 4: Tesco’s Profit & Loss Account 2005-2009| Year E nded 28 February| 2009| 2008| 2007| 2006| 2005| ? millions| Turnover| 59377. 0| 47298. 0| 42641. 0| 39454. | 33866. 0| Operating Profit| 3206. 0| 2791. 0| 2673. 0| 2280. 0| 1952. 0| Net Interest| -362. 0| -63. 0| -126. 0| -127. 0| -132. 0| Profit Before Tax| 2954. 0| 2803. 0| 2653. 0| 2235. 0| 1894. 0| Profit After Tax| 2166. 0| 2130. 0| 1881. 0| 1586. 0| 1353. 0| * * Source: www. redmayne. co. uk Figure 5: Tesco’s Balance Sheet 2005-2009| Year Ended 28 February| 2009| 2008| 2007| 2006| 2005| ? millions| Intangible Assets| 4027. 0| 2336. 0| 2045. 0| 1525. 0| 1408. 0| Tangible Assets| 23152. 0| 19787. 0| 16976. 0| 15882. 0| 14521. 0| Fixed Investments| 321. 0| 309. | 322. 0| 480. 0| 423. 0|Total Fixed Assets| 32008. 0| 23864. 0| 20231. 0| 18644. 0| 16931. 0| Stocks| 2669. 0| 2430. 0| 1931. 0| 1464. 0| 1309. 0| Cash at Bank and in Hand| 3509. 0| 1788. 0| 1042. 0| 1325. 0| 1146. 0| Total Assets| 46053. 0| 30164. 0| 24807. 0| 22563. 0| 20155. 0| Total Liabilities| 33058. 0| 18262 . 0| 14236. 0| 13119. 0| 11501. 0| Net Assets| 12995. 0| 11902. 0| 10571. 0| 9444. 0| 8654. 0| Net Current Assets| n/a| n/a| n/a| n/a| n/a| Called Up Share Capital| 395. 0| 393. 0| 397. 0| 395. 0| 389. 0| Share Premium Account| 4638. 0| 4511. 0| 4376. | 3988. 0| 3704. 0| Other Reserves| 40. 0| 40. 0| 40. 0| 40. 0| 40. 0| Profit and Loss Account| 7865. 0| 6871. 0| 5693. 0| 4957. 0| 4470. 0| Shareholders Funds| 12938. 0| 11815. 0| 10506. 0| 9380. 0| 8603. 0| Source: www. redmayne. co. uk A balance sheet lists all a business' assets and liabilities, giving a â€Å"snapshot† of the its overall money value at a given time. The Tesco balance sheet [Figure 5] indicates that it is very healthy financially. It shows that net assets [total assets – total liabilities] have increased tremendously from ? 8654 million to ? 12,995 million.The profit and loss account [net profit, or loss, made] has almost doubled in the five years shown from ? 4470 million to ? 7865 million. Figure 6: Key Figures for Tesco 2005-2009| Year Ended 28 February| 2009| 2008| 2007| 2006| 2005| Earnings Per Share Growth (%)| 6| 22| 10| 16| n/a| Total Dividend (p)| 11. 96| 10. 90| 9. 64| 8. 63| 7. 56| Operating Margin (%)| 6| 6| 6| 6| 6| ROCE (%)| 13| 17| 19| 20| 18| Dividend Yield| 3. 60| 2. 70| 2. 20| 2. 60| 2. 50| Price / Earnings Ratio| 11. 40| 14. 60| 19. 90| 16. 50| 17. 60| Dividend Per Share Growth (%)| 10| 13| 12| 14| 11| Source: www. redmayne. o. uk Return on capital employed (ROCE) is a key measure of an industry's financial health and performance [Atrill and Melaney, 2004]. It is calculated as the earnings before interest and taxes (EBIT) divided by the difference between total assets and current liabilities.It shows whether an organisation is obtaining a decent profit for the amount of capital it owns. The higher the ratio, the better the company is. Tesco’ ROCE is down slightly but a return of 13% is still much better than any bank account interest rate and shows a ve ry effective investment of capital employed [Figure 6]. . 2 Walmart The USA based Walmart superstore chain is the biggest company in the world. Almost fifty years on since Sam Walton opened his first store, 90% of the US population is within fifteen miles of a Walmart [Luce, 2005]. With over 1. 3 million employees and sales at a quarter of a trillion, it is the biggest retailing success in history. With the goal of low prices, the average customer saves 15% shopping at Wal-Mart [Walmart, 2010, online]. Despite stiff competition, Wal-Mart's annual income from 1996 to 2006 increased steadily, as shown below in Figure 7.Figure 7: Walmart’s 10 Year Income For the fiscal year ending January 31, 2009, Wal-Mart brought in $405. 6 billion of total revenue [sales]. The income that the firm made after subtracting costs and expenses from the total revenue [net income] was $13. 6 billion [Foley, 2009, online]. Figure 8: Walmart’s Annual Report 2008-2009| | 01/01/2010| 01/01/2009| Revenue| $m| 405,607| 408,214| Pre-tax Profit| $m| 20,898| 22,579| EPS| $m| 3. 39| 3. 70| Dividend| $m| 0. 95| 1. 09| ROCE| 21. 00% Source: www. walmart. com| | | | |Even higher than Tesco, Walmart’s ROCE index of 21%, is indication of its great financial success. Walmart’s share price was hit by the recent economic recession but, as Figure 9 shows, has started to rise again. Figure 9: Walmart’s Share Price 2007-2010 Source: www. walmart. com In 1999 Asda was acquired by Walmart and in 2006 the company expanded even further internationally. They opened 537 new international stores, employing over 50,000 new employees. International revenues soared by 17. 4% to $7. 87bn, helped by store openings in markets such as Canada and Scotland [I. G. D. 2010, online]. Walmart’s market share continues to rise in the United States, but also in the United Kingdom and Mexico. In the midst of a global depression it is obvious that everyday low prices are a big consumer d raw. 4. Cultural Style ;amp; Leadership 4. 1 TESCO As a performance-driven organization, Tesco’s mission statement is â€Å"to create value for customers to earn their lifetime loyalty. † They are determined to strike up a close relationship with its customers. Consequently, Tesco endeavors to provide better, more innovative products and services than any of its competitors.It believes if you treat customers well and operate efficiently then shareholders’ will inevitably benefit by growth in sales, profits and returns [Enfield, 2009, online]. The customer/staff focus of Tesco is reflected in the far-sighted leadership of Terry Leahy, Chief Executive Officer. Representing a new era, Leahy adapted a more participative style of leadership, where employees are given a voice in the decision-making process. Terry Leahy, Tesco CEO The organizational structure is now simple and flat with fewer levels in the management hierarchy.There are fewer formal rules, more decentr alization and shared decision making throughout the organisation. Leadership roles are delegated to best informed and capable individuals in the organization to ensure that the company operates effectively. As values and beliefs develop, so does commitment to the organization and this is much more productive than a formal hierarchy (Miner 2002). The organic structure suits the pressure to be innovative – given its flexibility it can respond to environmental variations quickly (Salaman 2001, p. 106). 4. 2 WALMARTMuch of Wal-Mart's success is due to a strong and all-encompassing, corporate culture, originally developed by Sam Walton. At the core of this culture is a relentless push for the lowest prices. This penny-pinching is achieved using state of the art technology and by its â€Å"plus one† policy, which demands that suppliers lower their prices or increase the quality on every item every year. In â€Å"The Wal-Mart Effect,† Charles Fishman shows how the pric e of a four-pack of General Electric light bulbs decreased from $2. 19 to 88 cents within five years [Fishman, 2006].Because of this culture, Wal-Mart no-frills headquarters are in Bentonville, Arkansas, not an expensive city like New York. Executives start work before 6. 30 am, never use limousines, always fly economy-class and often share hotel rooms with colleagues. The company offers basic wages and health care plans. It demands that hourly workers do overtime without pay. Store managers regularly work 70 hours per week. They are expected to pinch pennies wherever they can, even on things like the heating and cooling of the stores.In the winter stores are kept at 70 degrees Fahrenheit and in the summer, they stay at 73 [Seth and Randall, 1999]. In almost fifty years of operation, Wal-Mart has managed to keep these cultural components, as well as its enterprising spirit. Leadership Walmart’s present chairman, S. Robson Walton [son of the founder] is reported to have said i t is the job of leaders to â€Å"listen to customers, listen to customers, listen to customers† [Fishman, 2006, p32]. Choosing to be a humble-servant type of leader, Mr Walton has established a spirit of customer service throughout the whole company. S. Robson Walton,Walmart Chairman Like Tesco, Walmart believes that delegation and limited supervision increases efficiency. Additionally, if leaders trust workers then they will develop quality decision-making skills. Fewer managerial, supervisory jobs also reflect Walmart’s culture of saving money wherever possible. 4. 3 Ethical & Environmental Issues In response to increasing consumer awareness of environmental and ethical issues, the supermarket chains have adopted a range of initiatives. In 2008 Walmart introduced new Fair Trade certified coffee products which provide plantation workers with better wages and working conditions.Similarly, to benefit farmers growing Fair Trade cotton in Africa and India, Tesco was t he first supermarket to bring in Fair Trade cotton knitwear and is presently doubling its range of Fair Trade cotton school uniforms [Wiener, 2009]. Also, to support local producers, much of Tesco’s meat and vegetables come from farmers within the region. With environmental issues becoming mainstream, Tesco has recently promised to attach a carbon label to all its goods and install sophisticated new refrigeration techniques to reduce its consumption of climate changing hydro-fluorocarbons.Wal-Mart now claims it will power its US stores entirely using renewable energy [Walmart, 2010, online]. The introduction of clear labelling regarding fat and calorie content of products has allowed supermarkets to take advantage of the increased consumer awareness of health issues. In the case of a health scare [e. g. BSE], their sophisticated communications networks make product traceability very easy. 5. CONCLUSIONS In conclusion, the retail market has been completely transformed in recen t years by the large supermarkets.Whether your preferred criteria for financial success is square footage of retail space, sales, net profit or dividend growth, both Tesco and Walmart have reached heights that few others in the retail industry can hope to match. To counter the image that they destroy the environment and are enemies of society, both Tesco and Walmart have adopted a range of environmental, social and ethical programs. The so called â€Å"Walmark effect† may yet be seen as a force for the good.

All Drugs Should be Legal for Personal Use Essay - 946 Words

All Drugs Should be Legal for Personal Use The war on drugs is costing us over 100 billion dollars to fight each year, and we’re only fighting a monster which we are making bigger with each punch. It’s not drugs, but drug laws themselves that have created this monster. Drug use is part of human nature, but the unimaginable wealth involved leads to the corruption of the police, judges, and elected officials. There is no reason to have the government regulating what goes into an individual’s body. An extreme case of what we’re letting the government do is letting them take away our own self, an individual’s ownership over his own body. I think it’s in everyone’s interest to legalize all drugs, since this war is going nowhere, letting†¦show more content†¦This simple concept the government does not seem to understand. Each time an agency makes a drug bust, it makes the monster bigger, the drug more profitable. Revenues for drug trafficking in Miami are greater than those from tourism exports, health care, and all other legitimate businesses combined. The only way to kill this monster is to make it collapse on its own weight. By legalizing drugs the whole black market would crumble, making illegal drugs as expensive as prescription drugs, the whole world economy would also benefit greatly. South American countries could finally get out of debt by legally exporting drugs. There is no way that the United States is going to stop the whole world from producing drugs. When they paid Turkey to stop the growth of opium, production merely shifted to Southeast Asia and Afghanistan. Drug use has been in human history, and no law of any kind is going to stop humans from experimenting with drugs. Alcohol, one of the most dangerous drugs, a drug known to trigger violent behavior, and cause 40% of all car accidents is legal. This seems to be hypocritical of the government, and it’s racist since throughout history the white man has predominantly used alcohol. Marijuana use for instance was largely confined to people of non-European descen t, and that’s what made it relatively easy for the first marijuana laws here in the United States to be passed some 60 years ago. Drug offenders account for more than 60% of theShow MoreRelatedA Call for the Continued Prohibition of Marijuana and Other Drugs1239 Words   |  5 PagesA Call for the Continued Prohibition of Marijuana and Other Drugs Alcohol, if consumed in high quantities, poses serious personal and public health and safety issues. In the realm of public safety, engaging in said activity significantly impairs cognitive activity, affecting one’s ability to utilize proper judgment and operate machinery, among other things. 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