Wednesday, May 6, 2020
INTRODUTION Drug addiction is the chronic disease affecting the brain, and just everyone is different. Drug affect different ways. One person can take and abuse drugs, yet never become addicted, while another merely has one experience and is immediately hooked. Addiction explain and is charactererized by a person having to used the drugs repeatedly, regardless of the damage it does to their health, family career, and their rrelationshipwith friends and the community. Addiction is not limited to drugs a nd alcohol. People can be addicted to many things, such as food, gambling, shopping or most anything that gets in the way of a healthy lifestyle.when things get out of hand, and people behave compulsively, regardless of theÃ¢â¬ ¦show more contentÃ¢â¬ ¦which some conceptual problems are consequentalism, distributive neutrality and social discount rate. It also as an application to cost and benefits of drug addiction. The paper looks at health cost (direct and indirect due to behavior under the effect drugs), looses of productivity, cost in the criminal justice system and civil courts, potential psychological cost and political cost. On the other side of benefits from drug addiction, the paper at looks at the income generated by the production and trade of drugs as well as the consequences in terms of maual instructions. DISCUSSION AND ANALYSIS I combined the biological perspective of drug and alcohol abuse, particular because alcohol is equally as harmful to individual as, for example the drug cocaine. The assessment comes from first-hand experience as case manager working with individuals in drug rehabilitation program. And alcohol abuse runs abuse deep in a lt of lifeÃ¢â¬â¢s as drug addiction becomes more and more common today. There are many who are born with drug addiction by what we call psychobiological markers which found in many addicts. A psychological marker is a characteristic that may be measured using psychological or biological means, other than symptoms of the disease itself that identifies those individuals in the population wh are most likely t o develope the specific disorder in the case of alcoholism, it is a charactereisctic that can be measured in children or adolescent ( before theShow MoreRelatedDrug Addiction : Drugs And Heroin Addiction1130 Words Ã |Ã 5 PagesThe arguments for whether or n ot to prescribe heroin to treat heroin addictions are controversial. Henden and Baeroe (2015) state both sides of the arguments being that some believe Ã¢â¬Å"it is in the nature of heroin addiction for individuals to lose their ability to resist their desire for heroin,Ã¢â¬ which knowing the nature of chemical dependency, heroin addicts would not refuse any heroin, so it still possibly an invalid consent to research participation as they did not have a free choice to reallyRead MoreDrug Addiction : Drugs And Drugs Essay744 Words Ã |Ã 3 PagesWhen people first hear the word drug, they think of illicit drugs such as cocaine and methamphetamine. They also think about the user and sometimes why they use. One thing that is overlooked by the public is the treatment programs that are available to drug users. There is a stigma in our society around drug use that is very negative. Many believe that people that do drugs do them just to do them and even if this is true in some cases, no one wakes up one morning and decides that today is the dayRead MoreDrug Addictions802 Words Ã |Ã 4 Pagesof the states, is facing drug problems. This state is considered one of the deadliest drug epidemics in American history. There are two types of drugs mentioned in the article. One of them is opioid. An opioid is a substitute for morphine and widely used. According to the statistics, 500 people had died from an overdose in 2005. In 2013, the numbers soared from 500 deaths to 2,700. Another drug(s) is known as synthetic opioids. Fentanyl and Carfentanil are the two drugs mention by Phil Plummer,Read MoreDrug Addiction3845 Words Ã |Ã 16 PagesDrug Addiction (Focus of the Study: Ã¢â¬Å"ShabunganÃ¢â¬ at Brgy. Victoria Reyes, DasmariÃ ±as, Cavite) Group No. Cuenca, Ma. Kristina B. Enon, Jane Loraine S. Tuban, Julie An Pelisco, Marvelous Salcedo, Yvette Laganzo, Ma. Riellyn Mae Austria, Gerald Mateo, Alyssa INTRODUCTION: Drug Addiction is a chronic disease affecting the brain, and just about everyone is different. It was also a condition that characterized by compulsive drug intake, craving and seeking despite what majority of societyRead MoreAddiction : Drugs And Addiction947 Words Ã |Ã 4 Pages Addiction is a problem thatÃ¢â¬â¢s very prevalent in our society. Considering that drugs and alcohol are being introduced to kids in middle school, this isnÃ¢â¬â¢t that surprising. We as a society constantly bombarded with talks about the Ã¢â¬Å"war on drugsÃ¢â¬ and addiction. There are constant conversations about what should and shouldnÃ¢â¬â¢t be legal and what addiction really means. Is addiction in the head, or is it something a person chooses? Should we help or punish people with addictions. Everyone has opinion,Read MoreDrug Dependence And Addiction : Drugs1231 Words Ã |Ã 5 Pagesobvious assumption that drugs have an effect on the mind, but what exactly goes on and how do these substanc es affect your brain and change your state of consciousness? This is the question that interested me and brought me to want to write about this certain topic. Drugs alter the way people think, feel, and behave by disrupting neurotransmission, the process of communication between brain cells. Over the past few decades, studies have established that drug dependence and addiction are features of anRead MoreDrug Addiction and Drugs1219 Words Ã |Ã 5 PagesDrugs Addiction Miami Beach Senior High Ashley Gonzalez Ms. Cooper/Mr.Sussman English II-Period Three 06 March 2013 Drugs Addiction Topic and Thesis Statement Miami Beach Senior High Topic: Drugs Thesis Statement: In an examination of drugs I will discuss causes of this disease/or social dilemma. I will also discuss the effect of drugs on individuals, families and society. Read MoreDrug Dependence And Addiction : Drugs1231 Words Ã |Ã 5 Pagesobvious assumption that drugs have an effect on the mind, but what exactly goes on and how do these substances affect your brain and change your state of consciousness? This is the question that interested me and brought me to want to write about this certain topic. Drugs alter the way people think, feel, and behave by disrupting neurotransmission, the process of communication between brain cells. Over the past few decades, studies have established that drug dependence and addiction are features of anRead MoreThe Drug Of Drug Addiction Essay1270 Words Ã |Ã 6 Pagesmy older brother struggle with drug addiction has taught me more in my life than anything else. He was a smart kid with a good head on his shoulders. Ã As he grew older he made some unwise choices with regard to substance abuse that quickly turned into a full blown addiction lasting over five years and landed him in and out of four different rehabs. Ã He was striving to get clean, but every time he took one step forward he fell three steps back. Ã Taylor entered Drug Court, after finding himself inRead MoreDrug Addiction : Drugs And Drugs1017 Words Ã |Ã 5 Pages In todayÃ¢â¬â¢s society, it is now normal to know somebody who has a drug addiction especially to opiates. A dr ug addiction is a mental disorder that the person can no longer control their actions. The person addicted to the drug will no longer care about the outcome of their actions as long as they can get that high they are seeking. **from textbook pg. 303** Ã¢â¬Å"Opioids are classified as narcotics- strongly addictive drugs that have pain relieving and sleep-inducing properties. Opioids include both naturally
Tuesday, May 5, 2020
Question: Describe about the Tata Group Biggest Multinational Corporation in India? Answer: Introduction: Tata Group is considered to be one of the biggest multinational Corporation in India. The headquarters of Tata is situated in Mumbai, India. There are seven business units in Tata Group which includes information technology, Engineering, energy, materials, services, consumer products, chemicals and Communications. The establishment of Tata group was during the year 1868 by Jhamsetji Tata which was initially a trading company. Today the operations of Tata Group are carried in more than six continents and around 80 countries. There are seven sectors in Tata group which has operating companies more that hundred. The main companies under Tata group are Tata motors, Tata steel, TCS (Tata Consultancy Services), Tata Global Beverages, Tata Teleservices, Titan Industries, Tata communications and Taj Hotels. Total turnover of the 32 groups was approximately 8.4 Trillion till July 2014. The company earns more than 58% of its revenue from its foreign sectors (Financepractitioner.com, 2015). Various charitable trusts own the shares of Tata group of companies. Cyrus Pallonji is the present Chairman of Tata Group, who came into power after Ratan Tata resigned from the post three years ago. Tata sons, is the promoter of all other companies and owns the maximum shareholding of the company. According to a survey by ASSOCHAM, the enterprises and companies of the Tata Group is known to be Indias one of the best and well known brand, both inside and outside India. It achieved to rank the 11th most reputable company according to an annual survey conducted by the Reputation Institute at the end of 2008. The Organization has helped to finance and establish a number of cultural and educational institutes in India. The Tata group is known to be awarded the Carnegie Medal of Philanthropy due to its long history in philanthropic activities in 2007 (https://www.livemint.com/, 2015). Tata Groups Organic Growth strategy: Organic Growth is termed to the rate of business expansion through a companys internal activities while Inorganic growth states that the company has grown through merging with or acquiring other existing companies. Inorganic Growth is a faster way to grow than organic growth as in organic growth the prime objective is cost reduction and productivity maximization. Most of the companies of Tata have applied inorganic growth strategies and is doing exceptionally well. Example, Tata motors have adopted an inorganic growth strategy and is in an increasing trend, Tcs too is highly inorganic, other companies that are inorganic are Tata tea, Tata communications and Tata Chemicals. Thus though, Tata has been following the inorganic growth strategy in recent years but initially it has been following Organic Growth strategies where it mainly developed through technological advancements, new product developments and innovation. Through organic growth approach, the company started many industries in India including steel, hospitality, power, airlines etc. The concept of growth was redefined once Ratan Tata became the chairperson in 1991 (Icmrindia.org, 2015). He restructured Tata Group and helped in the expansion f the company globally. The first major example of the company adapting to inorganic growth is when Tata acquired the UK based brand Tetley in 2000.In 2013 -14 again, there was a changing trend that could be seen in Tata group where after decades of following inorganic growth strategy, Tata Group again stepped into organic Growth strategy. Under the chairmanship of Cyrus Mistry, the ten most profitable companies of the group has invested around 95,634 crores on organic Growth. Tata Group enjoyed much advantages of the organic growth strategy under Cyrus Mistry, through organic growth; Tata group was able to speculate the organization goals that the company would follow in the long run. Through this growth strategy, the management team was able to guide the company as per the goals of the company. Secondly, there was no cultural crashing as all the company employees were hired at the initial beginning of the business or were terminated to the recently established business. The business culture and norms will be preserved. Organic growth strategy of Tata Group was cheaper than the acquisitions of the company as when a company acquires another company they have to make payment of premium which is so costly that it can erase the whole worth of the acquisitions rather than enhancing the value of the shareholder. Moreover, organic growth has created better control and coordination for Tata Group. It is relatively inexpensive than inorganic growth strategy as the source comes from retained profits (Indianexpress.com, 2011). Tata Group was also able to avoid culture clashes that arise from acquiring new corporate where there is a clash between the new and existing corporate culture. But there are also many limitations of organic growth strategy for which the company under Ratan Tata switched to inorganic strategy after his accession. The organic growth strategy acquired a longer time to progress, as they require to start from the initial state including recruiting and hiring the human capital, setting up the whole business. Investing in machineries etc. moreover under organic growth strategy the business was bearing all the risks by themselves. The hierarchical structure of the company increases communication problems and the decision making was very slow. The communication under organic growth needs to be handled with more care and there is a need for training, retraining and updating the skill set for staff. There was another problem with organic growth and which is Tata group grow from partnership to public limited company and the original owners needed to share decision making with the new share holders and as a result the decision making was prolonged and there was conflict of interests between the shareholders. Inorganic growth strategies involved in the success of Tata Group When the responsibilities were taken by Ratan Tata,as the chairman of Tata Group in 1991, he rationalized the production and expanded it in the global forum. The first case of Tata group adopting inorganic growth strategy was the acquisition of UK bases Tetley by Tata tea in 2000.This incident was followed by a sequence of acquisitions by the company. Some of which are, Tata steel acquisition of Corus in 2007, Tata Motors acquiring Jaguar and land rover in 2008. Tata Group has recorded higher growth in revenues through inorganic augmentation. It also had to go through the risks and challenges of the proper management of the companys portfolios. Tata Group is looking forward to South East Asia, United States and Europe for their inorganic growth strategy. The group has to take over all the challenges of acquiring companies from these parts of the World. The main aim of Tata group should be maintenance of the integration of the companies while preserving the culture of Tata. With this inorganic growth on the rise there is a need to optimize the portfolio of companies that has been acquired(John Sadowsky Leadership Storytelling, 2015). The acquisitions have helped Tata Group in a number of ways. The acquisition of Tata Steel of Corus helped the company enter the value added steel market in Europe. The Strategy of Inorganic Growth is frequently seen as a quicker way for a company to develop as compared to organic growth. IN industries such as technology, growth is often accelerated through increase innovation. One way for the company to grow is to align with those companies who are taking in innovative technologies. Inorganic growth strategy has helped Tata Group to enter new markets, to expand customer base, to grow and consolidate in size quickly, to cut competition and finally to employ new technology in respect to people, products and processes. The strategy of inorganic growth is to multiply revenue by takeovers, integration, spinoffs, joint venture and merg ers and acquisitions. It can occur more quickly than organic growth. The Tata Group was benefitted by the larger pool of skills and experiences of the companies that is has acquired. It helped the company to acquire customers, assets, market position and sales immediately. It also has reduced competition for the Tata Group. However, there are many disadvantages of adopting inorganic growth as well. Inorganic growth strategy is more expensive than organic growth strategy. In inorganic growth Tata Group has faced multiple problems related to the integration of different cultures and organizational and management styles. There has been a possibility of diseconomies of scale. There have been greater risks for the company and also it was very difficult to control. Inorganic growth was more risky to the company as it involves acquiring new businesses, which have a different culture. It was also expensive for the Tatas. According to the managing Director Ravi Kant, the biggest challenge th at Tata Group faces today is the consolidation of their company. After the launching of the Nano, things have to be implemented on the ground. The other disadvantages of the inorganic growth strategy followed by the Tata is that when the company have joined forces with another company, the company has suddenly come across more employees and more assets to monitor. The company was growing indirections which it didnt anticipate. Such as the vision of the second company can take over the vision of the mother company. The company had to enter into new marketplace where they lacked any expertise knowledge (Managementparadise.com, 2015). Challenges and Issues : Tata Group has more than 300 subsidiaries and 100 at present with 40 businesses. The group faces many short term and long term problems in its pursuit of organic and inorganic growth strategies. Short term problems: The company needs to finance the short term borrowings and the day to day operations of the companies. In inorganic growth when two units merge there have to be many cultural issues among their employees. The Tata group has to undergo reformation of the resources but have to attach to the Tata groups traditional viewpoint of not firing anybody. It is a very daunting task to add new business lines with the existing business lines (Mbaskool.com, 2015) . The long term problems: To build up the technological capabilities of the company a robust research and development team is needed. The company has to include the new customer bases of the newly obtained companies. The new clients have to be added in the company to make business more profitable. The company should create a brand image to draw more clients in order to increase the market share. Thus, a proper marketing plan and strategy is required keeping in mind the long term objectives of the enterprise. The human resource management will be a big challenge in the long term as the company needs to chalk out plans to sustain the current businesses as well as aim for business expansion in the future through inorganic and organic growth (Ray Mukherjee, 2007). The short term and long term problems that have been discussed above have long lasting impacts on the way the company manages its businesses and other resources. In the context of Tatas ambition, critical assessment of Strategic Alliances and Mergers and Acquisitions A strategic Alliance is an agreement between two or more parties to pursue a set of objectives which have been agreed upon from before for the benefit of both the organizations while remaining independent organizations in the process. This form of co operations lies between organic growth and acquisitions and mergers. Acquisitions and merging of a company are aspects of corporate finance, strategic administration and management dealing with the dividing, selling, buying and combing of different companies with other companies that help a company to expand rapidly without the creation of any subsidiary (Rigsbee.com, 2015). Tata motors, is considered as Indias one of the largest company producing automobile which has business procedure in the countries like Spain, South Korea, UK, Thailand, Indonesia and South Africa through associate companies and subsidiaries. The Business comprises of the two iconic British brand, Jaguar Land Rover. It has made a joint venture with Fiat Group of Automobiles, having a strategic coalition with Fiat in 2005 to manufacture both Tata and fiat cars and Fiat power trains. The Tata group has joint venture business in Ukraine, Senegal and Bangladesh. Tata Motors has a strategic alliance with Marco polo which is the Brazil based maker of coach bodies and buses (Roll, 2015). Other Associations of Tata are Tata Daewoo Commercial Vehicle Company, Tata motors European technical centre, Telco construction equipment company, Tata Technologies, Tata motors (Thailand), Tata Cummins, Hv Transmissions and HV Axlws, Tal Manufacturing Solutions, Hispano Carrocera, Concorde Motors And Tata Motors Finance. Now coming to communications, it belongs to the bigger investments of Tata Group with an investment of over $7.5 billion. The Groups communication actions are spread across four major companies i.e. Tata Teleservices limited, Tata sky, Tata Teleservices (Mumbai) and Tata Communications. Tata Teleservices Limited embarked on a growth path by the acquisition of Hughes Tele.com Ltd. in 2002. Over the last few years, the company has launched significant CDMA mobile operations under the brand name of Tata Indicom. Tata Photon and 2G GSM services are under the name of Tata Docomo in 2009. It has a joint venture with NTT DOCOMO of Japan. Tata Docomo was born after Tatas strategic alliance with NTT DOCOMO, a Japanese telecom service in November 2008. Tata Docomo got a license to operate all over India and rolled over GSM services in all 18 telecom circles. Tata Teleservices Limited entered into a strategic alliance with Indian retail industry Future Group to offer mobile telephone services u nder the new brand name of T24. The TTL also had a strategic tie up with Virgin Mobile that mainly targets the young people offering both GSM as well as CDMA mobility services. Presently, The tata Group will invest around $35 million in order to lay special focus in aerospace, defence, retail, financial serviced and realty infrastructure for the next ten years (Rediff, 2015). Tata International Limited again is a trading company that operates globally with a network of subsidiaries and offices in more than 39 countries in Asia, Africa, America and Europe. Tata Africa Holdings, the largest subsidiary of TIL has been the flag bearer of the Tata Group of companies since 1977 and had its headquarters in South Africa. Through this subsidiaries and Joint ventures worldwide Tata Group has made it large. Through mergers and acquisitions, Tata Group has been able to enter new markets in a faster way, it has been able to acquire new services and products, it has been able to learn new technologies, Acquire necessary skills and knowledge, Integrate vertically, geographically broaden markets and fill needs in the corporate portfolio. But there have been few disadvantages of mergers and acquisitions as well. The rate of turnover has increased due to MA. Moreover, high premium rates, increase of interest costs, the high advisory fees, managerial distraction, less innov ation are some of the inevitable risks and challenges of MA. There are certain limitations of Strategic alliances that have been faced by Tata Group are, in strategic alliance, the company enjoys only partial control and only shared profitability and not the whole profit. The administrative costs of the alliance are much for the company, there is also a high risk of opportunism faced by the company as a result. Foreign joint ventures are more risky due to high chance of misunderstandings and miscommunications and lack of knowledge about the constraints of the external world. The prospects and challenges of Tata Groups merger and acquisition and inorganic growth strategies under Ratan Tata Tata Group under the leadership of Ratan Tata started to expand globally by acquiring foreign companies during the beginning of 21st century, when Tata Tea obtained the UK based Tetley Tea for $432 million. The inorganic growth strategy was initially tried in the year 1995 but at that time it failed miserably. The acquisition of Tetley gave Tata an impetus of international beverage brand. Tata Consultancy Services also acquired CMC with itself as part of its efforts to consolidate its IT businesses. The other IT companies within the Tata group are the Tata Technologies and Tata Elxsi. The other joint ventures of TCS are APONLINE, Airline Financial Support Services, Aviation Software Development consultancy, Conscript. Tata America International Corporation, HOTV, WTI Advanced Technology. Atul Takle, vice president of TCS said that TCS believes that inorganic growth such as mergers and acquisitions would see the company becoming the undisputed global leader sooner or later. To consoli date its position as the leading brand in the IT industry, TCS acquired a 51 % equity stake in CMC ltd in 2001 for Rs. 1.52 billion. CMC was the leading management, infrastructure, networking and Maintenance Company in India. Moreover to help the company through its mergers and acquisitions processes, TCS created a special MA cell in 2001.TCS have also set up centers in the Hungary, UK, Australia, Japan and China. This helped the company strengthen its position in new markets (Sustainable-everyday-project.net, 2015). IN 2001, Tata acquired a controlling stake in Videsh Sanchar Nigam Ltd. (VSNL) which is a government company. In 2004, VSNL acquired Tyco Internationals telecom cables which are under sea. This made Tata the worlds largest carrier of international phone calls. In 2004, The Tata Motors purchased Daewoo Commercial Vehicle Company ltd, (DWCV). This was the first time that any Indian company has acquired a foreign automobile company. The acquisition gave Tata Motors to ente r the Korean market, South East Asia and Chinese markets as well. After that Tata Motors acquired 21 % stake in Hispano Carrocera SA, a Spanish bus manufacturer. Tata Motors, in 2005, entered into an agreement with Thai Rung Union Car plc which was Thailands largest truck modifier pickup. Tata Motors got access within Asean region through this Acquisition policy. Tata Motors also entered into a JV with Marco polo which is a Brazil based company which is the worlds largest bus manufacturer in India. In 2006 it entered into a series of alliances with Italian automaker Fiat Auto S.P.A. which gave Tata access to a number of technologies. In 2005, The Tata group purchased Incat International, A major vendor for American Aerospace Auto Company. Indian Hotels, Company like The Pierre, The Ritz-Carlton Boston and Camden Place was acquired by the Tata Groups hotel business. In 2005, Tata Steel purchased The Singapore based manufacturer of Steel NatSteel Limited for US$ 486.4 million. This ac quisition helped Tata Steel to access major Asian markets and also Australia. It also acquired The Thailand based Millennium Steel for US $ 167 million to strengthen its position in the Asian Steel Industry. In 2007, Tata Steel acquired a bigger company the Anglo Dutch steel company Corus Group Plc for US$ 13.70 billion. This acquisition made Tata Steel the fifth largest producer of steel in the world. According to B.Muthuraman, MD of Tata Steel, the acquisitions that the company did gave the company a strong foothold in South East Asia and provided the company the ground for expansion and consolidates their position in the region (Tata.com, 2015). In 2008, Tata Motors acquired Jaguar-Land Rover for US$ 2.3 billion. In addition to this, Tata Tea acquired Tetley group, Tata Motors acquired Hispano Carocera, Tata Chemicals purchased Indo Maroc Phosphore, Indian Hotels acquired The Pierre, and Tata Coffee acquired Eight Oclock Coffee Company etc. These acquisitions significantly contributed to the Tata Groups revenues internationally as well as domestically. Industry experts reported that the success of Tata Group could be attributed towards its global acquisitions since the group reported revenues internationally of US$ 48.3 billion for the financial year ending 2011. Many experts have opined that Tata Group has recorded growth through its inorganic growth strategy. In 2010, Tata motors won the Indian Car of the Year Award for its Nano car. In this respect, Ratan Tata has said that hundred years ahead, Tata would be much bigger than what it is now. Moreover, The Company will be recorded as the best in India. Some analysts are of the opinions that Tata Motors Global acquisitions offered it strong synergies like good research and development capacities, expansion of product line and gaining of new markets. It also gave Tata Motors the opportunity to avoid risks by countering domestic market cyclicality through overseas markets. The acquisitions also helped Tata Motors to gain market access in countries like Western Europe, China, Latin America and South Africa(Tata.in, 2015). Strategic Alliance and Tata Steel: Strategic Alliance refers to a conformity for collaboration among two or more than two independent entities that operates together in order to achieve a common goal (Volberda, 2011). Strategic Alliance is different from joint venture because entities under strategic alliance do not form a new organization to further their objectives. Mergers and Acquisitions are a form of Strategic alliance that deals with combining and dividing, buying or selling companies of different or similar type. These kinds of Strategic Alliance help in growth of a company without creating a subsidy (Petitt and Ferris, n.d.). Tata Group under the leadership of Ratan Tata started to expand globally by acquiring foreign companies in the year 2000, when Tata Tea acquired UK based Tetley Tea for $432 million (Gaughan, 2010). The inorganic growth strategy was initially tried in the year 1995 but at that time it failed miserably. The acquisition of Tetley gave Tata an impetus of international beverage brand. Tata Consultancy Services also acquired CMC with itself as part of its efforts to consolidate its IT businesses. The Global Distribution and Trading Company of Tata group is better known as Tata International Limited, it has subsidiaries and network of offices over 39 countries from Europe, Asia, America and Africa. The revenue of Tata International Limited is of US$ 1.7 billion in financial year 2014. Along with marketing competencies and sourcing the companys leverage for their presence in the global market is maintained by providing good quality of products and services to their customers. The company has a strategic alliance with the major telecom NTT from JAPAN popularly known as DOCOMO which was inaugurated in 2008 (Petitt and Ferris, n.d.). This acquired popularity for the Tata group in the telecom industry. Apart from that the Tata group acquired stake of companies in the global market such as Tata communications and BT group of UK, where they acquired 100% stake, Tata chemicals and British Salt of UK (wholly-owned), Tata Communications and Neotel in South Africa, Tata Global beverages with Grand from Russia and in many other countries. Tata group has a strategy to think global in a local manner (Fernando, 2009). It adopted local culture for brand advertisement involving various cultural and social activities. For merging and Acquisition the Tata Group has a mindset of comprehending two entities and one. Even in promotions and advertisements the Tata group adopted globalization strategy in order to maintain competition in the global market. According to the case study, major acquisitions like Tata motors acquisition with Jaguar led the global repertoire and presence of Tata Group to a higher level which earned them the position among the top players of Automobile Industry globally. Then the acquisition of NAT Steel limited was a big step in for gaining access in the international market of Steel. This is because Nat Steel owned mills in countries like Philippines, China and Australia. The operation of NAT steel is customer based. Ratan Tatas Leadership style: Ratan Tata was born on 28th December 1937. He is an Indian businessman born to the famous Parsee Tata Family and is the great grandson of Jhamshedji Tata. He became the chairman of Tata Group in 1991 to 2012. He received the Padma Bhushan Award in 2000 and the Padma Vibhushan award in 2008 from the government of India (Businesstoday.intoday.in, 2015). Under the leadership of Ratan Tata, the Tata group climbed new heights with inorganic growth strategy and acquired profitable and huge companies globally such as JLR and Corus and Tetley etc. The values of Tata Group of companies are reliability, faith and service to mankind. Training and development is an important aspect of the culture of Tata (Tata.com, 2015). Ratan Tata is a born leader. He is a game changer. The leadership qualities of Ratan Tata can be stated as: Faith and commitment, Social service, justice and responsibility, global aspiration, trust, quality and real value of money. Creativity and industriousness and good understandings are the qualities of a true leader that Rattan Tata possesses. He is a visionary, who had a vision to see Tata as the biggest group of India in the coming hundred years (Tata.com, 2015). He is a strategist who initiated a proper blend of inorganic and organic strategies in making Tata group one of the leading companies worldwide. He is an initiator and a risk taker. He took the risk of establishing the Nio factory in Singer in west Bengal where he faced many political issues related to land acquisition and finally he faced the loss of 1500 cores but he overcome this challenging period and re formed his factory in Sunland Gujarat. He is also a champion of change. He is an expert in long term thinking a nd managing everything with ease. Finally he is a man of integrity, where he is very polite with employees, reserved and calm. He is also a workaholic where he has never left any work for tomorrow. For his strategic management, Rattan Tata also received the first award for Responsible Capitalism. In May 2008, Rattan Tatas name was published among the Worlds topmost 100 influential people. Innovation strategies of Tata Group: As the Tata Group conduct their business in a boundary less world it has contributed in innovation toward processes, thoughts, strategies and approaches (Sadler, 2003). The Tatas consider innovation as the means to produce, new and relevant services and products. The three prolonged strategy that the company has invested on across companies and business sectors are recognition of Innovative efforts and ideas, better communication initiatives and facilities that make it able for the company to learn from other companies (Kakabadse et al., 2011). Tata Group Innovation Forum (TGIF) is a vibrant network connecting Tata companies globally fostering collaboration and research and stimulating innovative thinking (Mellahi, Frynas and Finlay, 2005). The forum establishes number of workshops and events and accelerates communication between Tata managers, innovation academicians and experts.TGIF invites experts and academicians regularly in the field to conduct seminars and workshops which intr oduce new innovation tools and concepts and stimulate among tata mangers innovative thinking. Ratan Tata was affirmed that to make Tata Group the top most company, it was necessary to create technologically exciting and superior products. In order to distinguish it from other companies the Tatas have to depend on innovation and low costs. Ratan Tata was keen on the company to enter new markets as he felt that global competition would make the company more efficient .That is why Ratan Tata opted for inorganic growth strategies in order to expand its business opportunities and make it huge globally. As a result, the Tata Group operated in several sectors ranging from engineering, materials, energy, products, chemicals, communications information technology to services. These sectors contributed towards doubling the companys revenue both internationally and domestically. For the year ending 201 the international revenue of Tata group reported was around US$ 48.3 billion given to the in organic growth strategy of the Tata Group. My own opinion on organic and inorganic growth strategies and leadership in sustaining growth Tata Group the largest conglomerate in India is reported to be one of the worlds largest group of industries. Under the table leadership of Ratan Tata, the company embarked from organic growth strategy to inorganic growth strategy. Organic growth strategy was essential for the growth of the company internally, to review the functioning of different industries and take resort of its revenue. But Inorganic growth strategy helped the company gain an international reputation worldwide. Tata Group with its immense acquisition policies have become one of the worlds largest company in many sectors. As for example with the acquisition of Corus, Tata Steel became the 5th largest manufacturer of steel worldwide and also with the purchase of Jaguar-Land rover Tata motors became the huge manufacturer of cars (CRAINER, 2010). The innovation technology of Nano car happened when Ratan Tata once saw a family of four people travelling in a bike when he saw the dream of giving the middle class familie s of India a car which can be affordable by them within 1 lac INR. Nano went to become the most innovative technology in India and it gained huge success. Ratan Tata is a born leader and has far sightedness to see the future of Tata Group through inorganic growth strategies. He is a risk taker, and despite facing a huge debt of around 1 trillion he did not give up the hope of seeing Tata as Indias largest company in the future. Conclusion: Tata Group is an Indian Multinational Corporation whose headquarters is in Mumbai, Maharashtra, India. Tata group is the 11st largest Group worldwide. According to the analysts Tata has grown due to its organic and inorganic growth strategies. Through inorganic growth strategy, Tata Group has acquired many famous companies, worldwide, and had become Indias one of the largest manufacturing company. References: 1. Businesstoday.intoday.in,. (2015). Former Tata Steel MD J.J. Irani on Ratan Tata's leadership style - Business Today. Retrieved 24 February 2015, from https://businesstoday.intoday.in/story/j.j.-irani-on-ratan-tata-leadership-style/1/191230.html2. CRAINER, S. (2010). THE TATA WAY. Business Strategy Review, 21(2), pp.14-19.3. Financepractitioner.com,. (2015). Newsletter Signup - QFINANCE. Retrieved 24 February 2015, from https://www.financepractitioner.com/newsletter-signup4. https://www.livemint.com/,. (2015). Tata group builds on partnerships. Retrieved 24 February 2015, from https://www.livemint.com/Companies/1bv3rTEOmflUVAluUq3mCI/Tata-group-builds-on-partnerships.html5. Icmrindia.org,. (2015). Tata Group's Growth Strategies. Retrieved 24 February 2015, from https://www.icmrindia.org/casestudies/catalogue/Business%20Strategy/BSTR414.htm6. Indianexpress.com,. (2011). Ratan Tata leadership style | The Indian Express. Retrieved 24 February 2015, from https://indianexpress.com/tag/ ratan-tata-leadership-style/7. John Sadowsky Leadership Storytelling,. (2015). Ratan Tata: a shining example of business leadership in the third world. Retrieved 24 February 2015, from https://www.johnsadowsky.com/ratan-tata-a-shining-example-of-business-leadership-in-the-third-world/8. Kakabadse, A., Omar Abdulla, M., Abouchakra, R. and Jawad, A. (2011). Leading smart transformation. Basingstoke: Palgrave Macmillan.9. Tata.com, (2015). Tata group leaders praise Ratan Tata's leadership via @tatacompanies. [online] Available at: https://www.tata.com/article/inside/eZ4byYdHJ9I=/TLYVr3YPkMU= [Accessed 14 Mar. 2015].10. Mbaskool.com,. (2015). Mergers vs Strategic Alliances vs Joint Ventures - The Difference | Business Article | MBA Skool-Study.Learn.Share.. Retrieved 24 February 2015, from https://www.mbaskool.com/business-articles/finance/94-mergers-vs-strategic-alliances-vs-joint-ventures-the-diff11. Mellahi, K., Frynas, J. and Finlay, P. (2005). Global strategic management. Oxford: Oxford University Press.12. Ray, K., Mukherjee, A. (2007). Case studies on growth. Hyderabad: Icfai Books.13. Rigsbee.com, (2015). Acquisitions vs Alliances: the Basics. [online] Available at: https://www.rigsbee.com/strategic-alliance-article-Rigsbee-87.htm [Accessed 14 Mar. 2015].14. Roll, M. (2015). Merger, Acquisition, AllianceWhich is the Best?. Chinabusinessphilippines.com. Retrieved 24 February 2015, from https://chinabusinessphilippines.com/index.php?option=com_contentview=articleid=249:merger-acquisition-a15. Sadler, P. (2003). Strategic Management, Second Edition. London: Kogan Page.16. Sustainable-everyday-project.net,. (2015). Innovation Culture of the Tata Group : Innovation Futures. Retrieved 24 February 2015, from https://www.sustainable-everyday-project.net/innovation-futures/2014/01/13/innovation-culture-of-the-tata-grou17. Tata.com,. (2015). Investing in innovation via @tatacompanies. Retrieved 24 February 2015, from https://www.tata.com/innovation/articlesinside /Investing-in-innovation18. Tata.com,. (2015). Investing in innovation via @tatacompanies. Retrieved 24 February 2015, from https://www.tata.com/innovation/articlesinside/Investing-in-innovation19. Tata.com,. (2015). Tata group leaders praise Ratan Tata's leadership via @tatacompanies. Retrieved 24 February 2015, from https://www.tata.com/article/inside/eZ4byYdHJ9I=/TLYVr3YPkMU=20. Tata.in,. (2015). Developing leaders via @tatacompanies. Retrieved 24 February 2015, from https://www.tata.in/article/inside/xigW5THRfYE=/TLYVr3YPkMU21. Rediff, (2015). Tata Group to invest $35 billion in 3 years. [online] Available at: https://www.rediff.com/money/report/tata-group-to-invest-usd-35-billion-in-3-years/20140730.htm [Accessed 14 Mar. 2015].22. Fernando, A. (2009). Corporate ethics, governance, and social responsibility. Delhi: Pearson Power, Dorling Kindersley.23. Gaughan, P. (2010). Mergers, Acquisitions, and Corporate Restructurings. 5th ed. John Wiley Sons, p.672.24. Petitt, B. and Ferr is, K. (n.d.). Valuation for mergers and acquisitions.25. Volberda, H. (2011). Strategic management. Australia: South-Western Cengage Learning.
Saturday, April 18, 2020
There are various risk management standards that can be applied at the local or international levels. Overall, various norms exist because countries may differ in terms of legislative practices, corporate responsibility rules, auditing processes, and reporting standards.Advertising We will write a custom essay sample on The Standards of Risk Management specifically for you for only $16.05 $11/page Learn More Thus, there are different risk management principles that can be adopted at the national level. Additionally, one should keep in mind that companies representing different countries can cooperate with one another. Therefore, it is important to develop internationally accepted standards and rules. For instance, such an institution as the International Organization for Standardization (2009) introduces the norms which can be recognised by businesses working at the international level. This is one of the points that should be singled out. Overall, these international norms can help companies establish partnerships because senior executives should see that both companies adhere to the same principles. Overall, organisations need to use these standards in order to strengthen their sustainability. By evaluating the performance of companies according to these criteria, managers can identify potential weaknesses in the organisational design, flaws in the financial reporting, quality control deficiencies, and so forth (Standards New Zealand 2009; Financial Reporting Council 2014). Furthermore, the knowledge of these norms can be useful for assessing the work of senior executives or frontline managers. As a rule, the compliance with these standards may not be obligatory for companies that are not publicly traded. However, by following these rules, one can make businesses more sustainable.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More These are some of the benefits that can be identified and students should not overlook them. As it has been said been before, there are many standards related to risk management. Among them, one can distinguish the norms established in Australia and New Zealand (Australian Government 2010, p. 2). These norms should be considered because they incorporate specific guidelines that can strengthen the sustainability of an organisation. For instance, one can speak about the requirement to pursue inclusive policies. In other words, the management should consider the opinions of various stakeholders in order to identify the threats to which a company can be exposed. Furthermore, risk management policies should be implemented at tactical and strategic levels (Australian Government 2010, p. 2). This policy can help companies identify potential risks at the early stages. Thus, the standards adopted in New Zealand and Australia should be considered. However, one should not suppose that international nor ms can be dismissed. The information about these rules is included in the curriculum because students may need to work in companies operating at the international level. So, they should understand risk management principles that may be adopted in other countries. By learning about these standards, a person can better evaluate the performance of the company. In other words, he/she can better understand the reasons why a company does not function effectively. Thus, this knowledge can contribute to the professional development of a person.Advertising We will write a custom essay sample on The Standards of Risk Management specifically for you for only $16.05 $11/page Learn More On the whole, these examples show that the knowledge of risk management standards is critical for future professionals who may represent different fields. This knowledge can help them assess the performance of a business. Moreover, these issues are important of anticipating possible challenges that a company may face in the future. Furthermore, this information can be critical for developing the strategies of a business. Finally, these standards can be regarded as guidelines that business administrators should follow. These are the main arguments that can be put forward. References Australian Government 2010, Risk Management Principles and Guidelines. Web. Financial Reporting Council 2014, Guidance on Risk Management, Internal Control and Related Financial and Business Reporting. Web. International Organization for Standardization 2009, Risk management Ã¢â¬â Principles and guidelines. Web. Standards New Zealand 2009, Risk management standard. Web. Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More This essay on The Standards of Risk Management was written and submitted by user Charity Beasley to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.
Saturday, March 14, 2020
Building an Impressive Journalism Clip Portfolio If youre a journalism student youve probably already had a professor lecture you about the importance of creating a great clip portfolio in order to land a job in the news business. Heres what you need to know in order to do this.Ã What Are Clips? Clips are copies of your published articles. Most reporters save copies of every story theyve ever published, from high school onward. Why Do I Need Clips? To get a job in print or web journalism. Clips are often the deciding factor in whether a person is hired or not. What Is a Clip Portfolio? A collection of your best clips. You include them with your job application. Paper vs. Electronic Paper clips are simply photocopies of your stories as they appeared in print (see more below). But increasingly, editors may want to see online clip portfolios, which include a link to your articles. Many reporters now have their own websites or blogs where they include links to all their articles (see more below.) How Do I Decide Which Clips to Include in My Application? Obviously, include your strongest clips, the ones that are best-written and most thoroughly reported. Pick articles that have great ledes - editors love great ledes. Include the biggest stories youve covered, the ones that made the front page. Work in a little variety to show youre versatile and have covered both hard news stories and features. And obviously, include clips that are relevant to the job youre seeking. If youre applying for a sports writing job, include lots of sports stories. How Many Clips Should I Include in My Application? Opinions vary, but most editors say include no more than six clips in your application. If you throw in too many they simply wont get read. Remember, you want to draw attention to your best work. If you send too many clips your best ones might get lost in the shuffle. How Should I Present My Clip Portfolio? Paper: For traditional paper clips, editors generally prefer photocopies over original tearsheets. But make sure the photocopies are neat and legible. (Newspaper pages tend to photocopy on the dark side, so you may need to adjust the controls on your copier to make sure your copies are bright enough.) Once youve assembled the clips you want, put them together in a manila envelope along with your cover letter and resume. PDF files: Many newspapers, especially college papers, produce PDF versions of each issue. PDFs are a great way to save your clips. You store them on your computer and they never turn yellow or get torn. And they can be easily e-mailed as attachments. Online: Check with the editor who is going to be looking at your application. Some may accept e-mail attachments containing PDFs or screenshots of online stories or want the link to the webpage where the story appeared. As noted earlier, more and more reporters are creating online portfolios of their work. One Editor's Thoughts About Online Clips Rob Golub, local editor of the Journal Times in Racine, Wisconsin, says he often asks job applicants to simply send him a list of links to their online articles. The worst thing a job applicant can send? Jpeg files. Theyre hard to read, says Golub. But Golub says finding the right person is more important than the details of how someone applies. The main thing Im looking for is an amazing reporter who wants to come and do the right thing for us, he says. The truth is, Ill push through inconvenience to find that great human being. Most important: Check with the paper or website where youre applying, see how they want things done, and then do it that way.
Thursday, February 27, 2020
On the major developments that contributed to the modern model of health insurance - Research Paper Example Major developments in health insurance include but are not limited to the Hill-Burton Act of 1946 and the HMO Act of 1973. The Hill-Burton Act of 1946 is directed at offering loans and federal grants in order to improve the physical plant of the hospital system in the nation. Another name for the Hill-Burton Act is the Hospital Survey and Construction Act. Since their start, the Democrats and the Republicans designed the HMOs with a view to eliminating the individual health insurance. The HMO Act was proposed by President Nixon and was passed by the Congress in 1973. The HMO Act of 1973 established new and more cost effective health coverage which had constituted only a little portion of the market until then. The only main HMO till 1969 was Kaiser Permanente most of whose members would join only through unions (Holleran, 1999). The HMO Act together with Medicare ultimately eradicated the affordable individual health insurance
Monday, February 10, 2020
WAREHOUSE AND INVENTORY MANAGEMENT - Essay Example It is that part of the firmÃ¢â¬â¢s logistics system that stores products at and between point of origin and point of consumption. It provides information to the management about the status, condition and disposition level. Warehousing provides the place utility and works as a balance between production and meeting customer needs. Warehouses also support manufacturing, mix products from multiple facilities for shipment to a single customer, break-bulk and are used as a Ã¢â¬Ëflow-thruÃ¢â¬â¢ point along with Ã¢â¬Å"hoardingÃ¢â¬ point. Warehousing functions include; material handling, customer services, information transfer, and storage. Other purpose is to identify goods, dispatch for storage, hold inventory, recall goods, dispatch the shipment and prepare records and advices. Warehouses also provide services like Co-packing kitting and repair to its customers. With advancement in information technology and changing needs of businesses, Warehouse Management Systems (WMS) have b een designed. These WMS are a key part of supply chain management and aim at controlling the movement and storage of materials within aÃ warehouseÃ and processing of associated transactions. Third-party Warehousing: Tompkins,A., Jerry, D (1998) wrote that third party logistics has gained considerable importance and recognition in todayÃ¢â¬â¢s business world. ... A third-party, then, is a firm hired to do that which neither the first or second party desires to do. Third-part warehousing is defined as the warehousing services provided by a party other than the manufacturer, seller, buyer and receiver of the goods (Skjoett & Larson, 2007). A firm that provides outsourced logistic services to companies is called third-party logistics. These companies undertake all or a part of the supply chain management task of their client. Previously small warehouses were established in order to store the products mainly of food industry but with the passage of time manufacturing industry also started warehousing their material and products. Now warehousing is a vast area and short term contracts are now replaced with long term warehousing arrangements. Reasons: Drucker (1989) mentioned in an article that businesses today are outsourcing their warehousing function because of the following reasons: Now businesses are inclined towards having limited workforce i n order to reduce their cost and liabilities associated with these employees. Third-party warehousing reduces need of work force rather than employing people to manage personal warehouse. As warehouses are now operated with advanced information technology and warehouse management systems, it needs to have professional experts which ultimately raise work force and cost. Third-party warehousing help to maintain source of supply without breaking the chain of supply and provide goods in time to the customers. As the main focus of any business is on customer services, third-party warehouses support the policies designed by a business for customer services. As market conditions change rapidly in todayÃ¢â¬â¢s
Friday, January 31, 2020
A Clockwork Orange Essay I chose for my text transformation to use the base text A Clockwork Orange by Anthony Burgess. This novel interested me because of its individual language of Nadsat, a form of slang created by Burgess for gangs of violent English teenagers. The slang serves a serious purpose, which is too keep the violence of the protagonist from becoming unbearable to its reader, keeping the language partly veiled, for example making gratizny bratchny sound more pleasant than its meaning dirty bastard. It is important to realise that its audience of the 60s have not yet become subject to such violence and despair explored in the novel. So what have I done? I have taken four characters from the novel (Alexs parents, Alex and the schoolmaster) and placed them into The Jerry Springer Show, creating a parody of the show. I have given Alexs parents the names of Janet and Derek and looked at their perspective of Alexs violent activities. As I would chronologically slot the show in just before the police catch him, I have kept Alexs attitude of his enjoyment of violence. When the schoolmaster has been beaten up and staggers off, that is the last we have heard of him in the novel, I decided to give him a voice and see what he would have said about his attack. So why did I choose to do this? The Jerry Springer Show is a dysfunctional show and Alex is a dysfunctional character. Jerry Springers show is amoral TV; it is outrageous, shocking, scandalous and hilarious. The show has no limits. Nearly all stories have major big twists that unfold as more guests get called out. These guests often get violent and try to kick and punch other parties involved, whilst typically Jerry tries to redeem his guests. This is why I think it works well with the character of Alex and his behaviour seen in the novel. The novel represents the society in which Alex lives in as complete dystopian, dark and dismal, with no law and order. The Jerry Springer Show is a chat show, although it is very staged with his agenda-setting questions and appearing guests, the show is almost entirely full of spontaneous speech. Therefore I decided to do a transcript version of the show, although obviously not true to its discourse as I would be giving the characters a voice as appose to spontaneous speech written down as it is heard. Jerry Springer, as an American, has his own geographical dialect. It was important to keep this as well as phrases singly the best audience and his own idiolect right, well, hey, so, to indicate his regional origin. Jerry has an informal register that contains much ellipsis, such as youre singly the best and here cause you love. The graphology of the transformation is laid out in the convention of the transcript. The names of the characters have been placed on the left hand side indicating who is talking and to the right, is what is actually being said: Alex: are you saying do i enjoy lubbilubbing with a devotchas Janet: against their will alex against their will Alex: not recently no em Sounds that are not fore grounded I have placed in italics for example, the audiences reactions to the quests comments (Audience boos loudly). As this is a transcript and not a play, I have not included stage directions or actions taken by the characters, as a recording of the show a transcript would only contain sounds heard on the recorder. The syntax of Alex and his friends, in the novel, is completely different to that of any other characters. The Nadsat slang has derived from many different language sources but many are Slavic in origin. A mixture of Russian and demotic English, with elements of rhyming slang and gypsy talk, O my brothers, as well as anglicized words and amputations em, pee.