Trx Case

1. How does the strategic repositioning of the company and the use of the IPO as an exit for minority shareholders affect the attractiveness of the IPO? The strategic repositioning of the company was to gradually shift away and exist from customer care which TRX generated more than 50% in 2000, and Davis’s long term strategy was to focus on the higher margin sectors, such as data transaction and integrations. By shifting away from customer care, of course would reduce operational cost and increase bottom line for the company but I think it would affect the attractiveness of the IPO in negative way.If I was an investor I would be in agreement with TRX only if they were reducing the customer care due to the high operating cost, but I mean reducing, not totally exist. In the service based company, interacting with end consumers is critical even know it has lower margin but the company should be able to profit from it, if it continues to operate in the future which I believe would create higher customer satisfaction and strong long term relationship with end-consumers.Davis decided to use the strategy to make the financial data looking good or positioning the company for the IPO which he knows that he was going to do in the future because the company need capital to support the firm’s growth, however to exist a sector was not good way to start with the risk that they might have lower customer satisfaction, as the company went IPO, any negative issues would tank the company’s shares if they were not in good relation with end consumers.Davis had chance to improve the attractiveness of the IPO, he had two options; first one was go ahead with the IPO at the lower price of $9 per share, then he had to deal with Hogg Robinson whose intention was to exit TRX, and Sabre whose was in its best interest to sever the relationship with TRX. Their lack of agreement would eventually block the IPO, in order to prove the attractiveness of the IPO; Davis has to convince those two companies to agree upon the price so the proper managerial plan could carry forward.Second, David would just wait for some time to grow the company and complete the exit from the customer care business before the next IPO attempt while increase higher margin businesses. The use of the IPO as an exit for minority shareholders would eventually help the company better alignment of his stakeholders while offering liquidity for those minority shareholders an â€Å"easy out† which would increase the attractiveness of the IPO for small investors. 1. Estimate a preliminary file range for TRX’s shares.CSFB had prepared a valuation of the file price range by comparing TRX to comparable publicly traded companies, there are really no direct competitors as a result there were not going to be perfect comparable company. The methods CSFB and TRX’s management believed are best for them are both enterprise and price earnings multiples which would bring the com pany credit for its strong cash flow and an improving earnings outlook. In the EXHIBIT 9, by using enterprise multiple methods which a measure of a company's value, often used as an alternative to straightforward market capitalization.Enterprise value is calculated as market cap plus debt, minority interest and preferred shares minus total cash and cash equivalents. Base on the result estimated from 2005-2006, the enterprise for online travel sector were around 15, for Payment Processors were about 10 and for distribution is around 7. The calculation is based on CSFB’s financial projections on its own research and forecasts of TRX’s business, and is more conservative if compared to TRX’s management’s forecasting.The second method is price earnings, it is a valuation of a company’s current share price compared to its per share earnings and we calculated it by taking market value per share divided it by earnings per share, the ratio for online travel is around 25, for payment processors is about 20, for distribution is around 17, a high price earning suggests that investors are expecting higher earnings growth in the future compared to companies with a lower price earnings. For those two methods, a 15% discount was applied to this equity value based on the banker’s belief that a newly public firm would not trade at the same value as a seasoned firm.The proposed IPO filing ranged based on analysis should be set at least $11 to $13 per share. However, due to the investor demand during the time of TRX’s road show were really low, and the final IPO offer price will have to be $9 in order to attract more or enough investors. Technology changes so fast and brutal to make it more serious, Davis’s long term goal as discussed in question 4 might not be as good as it really is due the uncertainties of being in such shifting and fast moving tech world, it is very likely that TRX might or ight not fail, we don’t know but if the company did not keep up with the skilled workforce and future prospects, it would put the company in a very difficult position even after IPO, if they are lucky, there could be some big investor jump in and take over the company but the chance are too low because TRX’s is still too young in terms of operation, and even know that the revenue have been steadily increasing, the net income were still negative and there were too many I considered red flags in the financial statement, for example, goodwill on TRX’s balance sheet have increased dramatically from 2003-2004, and current portion of long term debt almost 7 times as higher than previous year, all those factors be main contributor to the future’s success of the company. One last thing is that while the TRX is going public, two of its main investors want to exit; if I am an investor, I wouldn’t want to invest in the company. 2.Given the situation Davis faced in September 2005, what wou ld you recommend that he do with respect to the offering? The situation Davis faced in September 2005 was tough, but the situation could be solved if he could convince Hogg Robinson, and Sabre which I recommend him to signify all the positive aspects of TRX such that they have strong relationship between majority shareholder in BCD technology, and present the fact that due to the 911 incident, the travel industry had experienced some serious headwinds and should be recover as matter of time soon in the future and company will started to make profit if IPO is successfully launched, and proper managerial plan is implemented.Besides, some strength such that its ability to automate and engineer travel and travel related processes, if Hogg Robinson and Sabre agreed to the $9 price, then Davis should proceed with the IPO which will help TRX to raise capital to support growth and accelerate the transition away from customer care, when the company started to grow so their stock price should start to increase too therefore making up the difference of the company’s expectation. I would recommend him do whatever he could at his best to proceed the IPO and I think it is the best option for the company. Otherwise chose the second option which is to withdraw the IPO and allow TRX time to grow and complete the exit from the customer care businesses, and some of TRX’s operational uncertainty would also be reduced because the time might not be right as Delta and Northwest Airlines declared bankruptcy and the overall difficulties and risk as being a technology company.The first dimension be a proper fit, TRX cannot define all major problems and issues that is facing probing and analytical investment, and its products and services were only few, the information about the future perspective of the company given by the Davis were too simple, the only thing that he mentioned again and again is that the company need capital to expand and support growth. The company has the working capital deficit almost four times higher by comparing from 2001-2005 and two investment companies for TRX have declared they want to exit even when the TRX want go to public which would indicate that there are something wrong within the company or perhaps they just aren’t in agreement about that fact that the company is going public so TRX is not proper fit in the first dimension. Second, sharing of ownership seems to be a bit problem, as Davis have indicated that going public offered liquidity for minority shareholders, and lead to a better alignment of his stakeholders.As what it sounds like that Davis did not really want to give up majority of its shares to other companies therefore is not fit on this dimension too. Third dimension is investors appeal, Davis and TRX management met with investment bank which they selected Credit Suisse First Boston because CSFB had strong analyst coverage in the online travel and data transaction sector which Davis believed wou ld help investors understand TRX’s business model therefore they do fit in this dimension in terms of helping investors to understand their business model. Fourth one is the amount raised in capital for the company, Davis decided to officially start the IPO process with a proposed IPO of 6. 8 million shares of common stock, 3. 4 million primary share, and 3. 4 million secondary shares.Even though they have all the shares planed out, Davis did not give any clear idea of how much the company really need to expand and how much ownership he is willing to abandon, as a result I will state that TRX did not meeting this dimension. Fifth, the purpose and timing of the IPO, Davis has been thinking about going public since 2000, but due to the dot-come bubble burst, he was forced to abandon its IPO. After carefully exam the technology IPO market performance, Davis finally decided to file an S-1 registration statement with the U. S. SEC. on May 9, 2005. In term of purpose and timing, Da vis has been very carefully, I think that he knows that he needs this success in IPO in order to support the company.

People, Organizations and Society Essay

Most people are individually different from one another it varies from behavior, character, attitude, lifestyles and importantly the social status. We sometimes ask ourselves why are there many people who have bad traits and good traits and sometimes having diverse mood swings and frame of mind. Different theories coming from different psychiatrist and psychologist are the concrete foundation of behavioral factors. In order for us to understand the behavior of every human being, it is better to describe the two types of conditioning which involves learning process and behavior, the classical conditioning and operant conditioning. We will discuss the similarities and dissimilarities of these two types of conditioning and further relates these two to many dimensional examples of an individual’s behavior and also that of an animal pattern of behavior. Defining Classical and Operant Conditioning In order to explore the clarity of classical and operant conditioning, it is healthier to examine and define the subject from which they are strongly associated and originated which is learning. Classical and operant conditioning has several similarities on learning such as the process of extinction, unprompted recovery, stimulus conclusion, biasness and superior directive condition or secondary reinforcement. Also, it is similar because they both generate basic occurrence and phenomena which is acquisition which result in the inheritance of a behavior (SocialPC). Classical and operant conditioning are similar in some ways but they do varies in a few ways and are equally dependable method to explain and educate a person or an animal in a specific situation. Learning is any comparatively lasting transformation in behavior and manners generated by an experience (MegaEssays, 2007). These two conditioning are the two types of several theories on learning. Classical conditioning is an important type of learning which was uncovered by Ivan Pavlov, a Russian physiologist who emphasized this observable fact through his experiments on the digestive patterns in dogs (Heffner, 2004). It is a connection of one occurrence or happening with another that results in a pattern of behavior (MegaEssays, 2007). A classic example of this phenomenon is the research done by Pavlov on his dog in which he discovered a dog’s drive to produce saliva while responding to a certain stimuli, in which a reaction or spontaneous effect that was unconscious and unintentional. When he rang a bell and was offered a food to the dog, the dog recognized it and associated the food with the bell. In this case, the bell is the conditioned stimulus while food was an unconditioned stimulus. In addition, classical conditioning often linked with muscles and reflexes and instincts. It is a very important component of a training program in which we can comprehend and figure out conditioned and unconditioned stimulus or reinforcement, species exact behaviors, inducing dislike stimuli, and feelings (2007). It is significant in understanding in dealing with problems relating to fear. Another finding confirmed the thought that we build up reactions to certain stimuli that are not naturally occurring, for example when we touch a hot stove, our response is to remove our hands back from the hot stove but now some people who already experienced after getting burned tend to pull their hands back even when the stove is turned off. This lead to Pavlov’s conclusion that people tend to relate or connect one particular experience which caused a person to simplify their reaction to one stimuli into an impartial stimuli in which it is matched with. In short, a stove burner is often associated with an expression in pain like ouch and then stove is equal to burner hence, a stove is also equal to an expression like ouch (Heffner, 2004). A lot of people’s behavior these days is formed by the combination of stimuli according to Heffner. Some observations and experience like the smell of a perfume or a particular scent, a certain song and things has been paired with a specific person or group like families, friends, ex-lover, loved ones, or a particular event or happening. These connections controls and influence us to a certain extent and in fact we have been conditioned classically (Heffner, 2004). On the other hand, operant conditioning is a type of learning experience which involves on how an organism functions or operates in a particular environment, learning here takes place as a consequence of behavior. This was termed used by Skinner in explaining the results of the consequences of a particular behavior on the future incidents or happenings of that behavior (MaricopaCenter, 1999). There are four types of operant conditioning: positive reinforcement, negative reinforcement, punishment, and extinction. In order to explain it further, an example could better explore its meaning; a cat was placed inside a box which has a single exit and entrance. The box has only one button to be pressed to open the door, the cat strived to get out from the box since freedom here is reinforced. In its effort to escape, the area of the box was set off and the door opens which leads the cat to be released from the enclosed box. But this does not end the story, the experience of the cat once placed again in the box, the cat will immediately escape since the cat will immediately recall the experience last time and will once locate again the button to push. Learning from experience is the concept from the example, the cat learned from the experience through natural results and how to achieve or acquire the reinforcing freedom (Heffner, 2004). Let’s pick a broader and relevant experience in the past, several times the Philippines were colonized by different conquerors and explorers and this colonization was strongly connected with harassment, violence, sexual abuse of women, forced labor, poverty and many more. The initial reaction is to obey and follow because freedom here is not welcome. Food and water is scarce and people would rely on the given ration, in order to get that food, one must steal more food to accumulate one’s hunger. Once again, freedom is reinforced here. The people of this nation once weakened but tried to learn from their experience not to be placed in a box where freedom is impartial. They have to press a button like the cat to open the door for freedom and find the answer from that experience. It’s like every individual who naturally encountered past mistakes presumably that individual will recall that mistake when things similar to that situation happens again. Same situation for positive outcome is true where effects from that outcome you did last time will likely do that same again. Four types of operant conditioning (Heffner, 2004): Positive reinforcement: this happening is often associated to anything stimulus which strengthens the probability of a specific response which are expressed in praise or rewards. A good example is when a parent appreciated a child’s good work after they have done something positive like cleaning their own room. This will increase the possibility that the same reaction will be repeated. Negative reinforcement: this constitute on the elimination of a particular negative stimulus which is reinforcing in order to increase a response. An example of this is a nagging mother who always scolded her daughter or son to clean their house every week. After telling and complaining to their friends about the distressing words it counters and lastly performs the chore and eventually stopped the nagging. Punishment: this refers to adding together something induced dislike in order to lessen a behavior. Disciplining by way of spanking is the most common example of a specific misconduct. Punishment is disliked and will surely avoid it by behaving in a good manner. Extinction: When something is removed so as to lessen a behavior is called extinction. Example is when a child owns and addicted to a teddy bear which irritates a child’s asthma will likely to react initially but for the parents it is positive that the teddy bear be removed to decrease levels of negative outcome like grasping for air when sniffed a fabric or cotton from the teddy bear. Relevance and application to business sector: In the business sector these two types of learning method has a significant advantage and guarantee positive outcome in the future. Less emphasis on classical conditioning, the operant conditioning is more likely to apply in designing a training course or let’s say changing an employee from a specific behavior in the workplace. Since operant conditioning involves on how it operates in a certain environment and learning takes place as a result of the behavior, we will be more focused on the positive reinforcement which is a very good tool for improving an employee on its negative behavior in the workplace. However, there are times that positive reinforcement would not work so other method can be used such as negative reinforcement, punishment and extinction. Let’s take a common example of a negative manner seen in an employee like tardiness, sleeping, delayed reports, absenteeism, abuse of policies and many other unnecessary manners. In order to alleviate and ease the tension in the way it is practiced, the management can formulate a positive reinforcement like giving importance to the people who always come on time and are constantly prompt in coming to the office. This can be done through rewards and additional compensation and acknowledgement. While those employees who are intensively late all the time despite of warnings from the management should be more reprimanded and disciplined by giving them penalty. The concept of punishment is generated here to reduce tardiness and eventually employees will dislike the penalty or punishment and surely avoid the misconduct by coming on time and perform their duties in a timely manner. Negative reinforcement may or may not work as a method to prevent misconduct in a workplace since it dismays or disappoints an employee because it’s sometimes involves verbal reinforcement to decrease negative stimulus, this is more applicable to a parent-child relationship but for employees, it’s not lasting and holistic and possibly produce a unprincipled outcome.

Calculating Distance Between Tow Points on Earth Surface Using Gps Coordinates

DISTANCE CALCULATION Because of the near-spherical shape of the Earth (technically an oblate spheroid) , calculating an accurate distance between two points requires the use of spherical geometry and trigonometric math functions. However, you can calculate an approximate distance using much simpler math functions. For many applications the approximate distance calculation provides sufficient accuracy with much less complexity. The following approximate distance calculations are relatively simple, but can produce distance errors of 10 percent of more. These approximate calculations are performed using latitude and longitude values in degrees. The first approximation requires only simple math functions: Approximate distance in miles: sqrt(x * x + y * y) where x = 69. 1 * (lat2 lat1) and y = 53. 0 * (lon2 lon1) You can improve the accuracy of this approximate distance calculation by adding the cosine math function Improved approximate distance in miles: sqrt(x * x + y * y) where x = 69. 1 * (lat2 lat1) and y = 69. 1 * (lon2 lon1) * cos(lat1/57. 3) If you need greater accuracy, you can use the Great Circle Distance Formula. This formula requires use of spherical geometry and a high level of floating point mathematical accuracy about 15 digits of accuracy (sometimes called double-precision). In order to use this formula properly make sure your software application or programming language is capable of double-precision floating point calculations. In addition, the trig math functions used in this formula require conversion of the latitude and longitude values from decimal degrees to radians. To convert latitude or longitude from decimal degrees to radians, divide the latitude and longitude values in this database by 180/pi, or approximately 57. 9577951. The radius of the Earth is assumed to be 6,378. 8 kilometers, or 3,963. 0 miles. If you convert all latitude and longitude values in the database to radians before the calculation, use this equation: Great Circle Distance Formula using radians: 3963. 0 * arccos[sin(lat1) * sin(lat2) + cos(lat1) * cos(lat2) * cos(lon2 lon1)] If you do NOT first convert th e latitude and longitude values in the database to radians, you must include the degrees-to-radians conversion in the calculation. Substituting degrees for radians, the formula becomes: Great Circle Distance Formula using decimal degrees 963. 0 * arccos[sin(lat1/57. 2958) * sin(lat2/57. 2958) + cos(lat1/57. 2958) * cos(lat2/57. 2958) * cos(lon2/57. 2958 -lon1/57. 2958)] OR r * acos[sin(lat1) * sin(lat2) + cos(lat1) * cos(lat2) * cos(lon2 lon1)] Where r is the radius of the earth in whatever units you desire. r=3437. 74677 (nautical miles) r=6378. 7 (kilometers) r=3963. 0 (statute miles) If the software application or programming language you are using has no arccosine function, you can calculate the same result using the arctangent function, which most applications and languages do support. Use the following equation: 3963. 0 * arctan[sqrt(1-x^2)/x] where x = [sin(lat1/57. 2958) * sin(lat2/57. 2958)] + [cos(lat1/57. 2958) * cos(lat2/57. 2958) * cos(lon2/57. 2958 lon1/57. 2958)] If your distance calculations produce wildly incorrect results, check for these possible problems: 1. Did you convert the latitude and longitude values from degrees to radians? Trigonometric math functions such as sine and cosine normally require conversion of degrees to radians, as described above. 2. Are the equations implemented correctly with necessary parentheses? Remember the old math precedence rule MDAS multiply, divide, add, subtract. 3. Does your software application or programming language provide sufficient mathematical accuracy? For best results, you need about 15 digits of accuracy. 4. When you imported the data from the text files your latitude/longitude values may have been truncated. Make sure you did not lose any of the digits to the right of the decimal point during import. 5. Have you lost any precision of your decimal values due to rounding during importing or calling custom math functions

Finger print as a crime fighting technology Essay

Finger print as a crime fighting technology - Essay Example (Cowger, p56) Fingerprinting has turned out an important and useful biotechnological application as there are several benefits of DNA fingerprinting. It helps the medical scientists in the identification of the organisms causing different diseases. With the help of DNA fingerprinting the paternity of a person could be established so the babies could be identified even if their parents were switched at birth time. Along with that DNA fingerprinting also helps in criminal investigations (Grew, p566). The investigators can take any skin tissue, blood drop or semen from the crime place and then use to decide weather any particular person was present at that place or not. Moreover DNA fingerprinting also helps in the identification of a body when it is decomposed or now available complete due to any incident (Beavan, p98). The use of fingerprinting is getting popular for different purposes due to variety of advantages offered by this technology however there are some negative aspects of t his application as well. There are some technical difficulties associated with DNA fingerprinting for example there is possibility that any error can occurred in the hybridization and probing process. In this way the investigation of a crime or paternity identification could be misguided however there are little chances for errors in this test. The probability determination and population genetics are the other problems related with DNA fingerprinting (Belkum, p122). An important application of the latest technology of fingerprint is its efficient use for fighting against the crime. It has been evolved as an important crime fighting technique as it helps the investigators in finding out the potential suspect of the crime by telling about the people present at the crime scene. There are several developments in the field of fingerprint that have allowed the investigators and crime fighters to refine their efforts in the field of crime fighting and investigation. For instance, the poli ce now commonly use the automated license place recognition camera for finding the stolen vehicles (Scheibert, et al, p1503). There are certain techniques within the fingerprinting technology that allow reaching the suspects in different ways. For instance, the brain fingerprinting technique is also used for meaning the suspect electrical brainwaves. In this method, the police make the suspect wear a headband embedded with electric sensor and the different images are shown to him on the computer screen. It is based upon the belief that the brain reacts in specific manner towards specific type of information and the brain activity and response towards certain pictures of the crime scene could help finding out his involvement in the crime (Cowger, p56). Due to the increased use of fingerprint for the crime prevention it has become a common practice in most of the countries of the world that the people are required to give their fingerprints at several locations like shopping mall, air ports and other public places. It allows maintaining the record of the fingerprints of the people visited at particular place during that time and later these fingerprints could be used to match with the fingerprints found at any crime scenes. These fingerprints also allow sorting out the people involved in any crime committed earlier. In this way, the fingerprinting technology allows fast recognition of the crime suspects. The most important use of fingerprinting te

Child labor in arab world Essay Example | Topics and Well Written Essays - 1000 words

Child labor in arab world - Essay Example He gave examples of Asia, Africa, Bangladesh and Latin America, but discussed America and Britain in the paper regarding child labor. The information is provided on page 21, paragraph number 2. b. Children after being replaced from working at different workplaces are involved in illegal crimes if they are not given appropriate education. These crimes include prostitution, rag picking and many more. The author used this information for finding a connection between literacy and crime rate of children. It can be found on page number 25, paragraph number 2. c. â€Å"Culture is a complex whole comprised of arts, law, knowledge, morals, customs, and "other capabilities and habits acquired by man as a member of society"† (page 30, paragraph 3). The author has given the concept of culture, but it was a minor point just to give support to cultural connection to global categorization of the issue of child labor. This article is useful for my topic of child labor because it discusses about child labor and its connection to economy. The article informs as to how child labor can be proved ineffective and injurious in contrast to adult labor. This gave some general information about the issue of child labor and its consequences for economic and social development of different countries. The topic of the article is â€Å"Cross-Cultural Ethics and the Child Labor Problem† and it talks about the global issue of child labor in connection with its economic and ethical implications for states. The main argument of the paper is that child labor altogether is injurious and inefficient for workers, society, nations, and world economy. It also discusses economy theory presented by Adam Smith in relation to child labor that informs about productivity, labor force and population. The article describes about the process of industrialization in Britain and America and its connection to growing child

Business incubation programs in Essay Example | Topics and Well Written Essays - 6500 words

Business incubation programs in - Essay Example The research methods details the two phases of the proposed research, the research design that will be followed, its rationale, and also identifies the research paradigm. The section on research instruments gives even greater details of precisely how the two instruments will be used and also their justification for doing so. In the literature review, the writer reviews what business incubators are, their types and development, the need for them and their effectiveness. The section on incubators in Saudi Arabia then focuses on existing and planned incubators and technology parks in the kingdom, a briefing of their history, and discusses what potential they have. A more detailed example is given of the BADIR-ICT programme for technology incubation. The situation in Saudi Arabia is then contrasted with other programmes worldwide, and similarities are drawn with those that are regionally closer in terms of the challenges posed to incubators in developing countries. The following section then overviews some of the best practices so as to identify them. Finally, the section on wider perspective refocuses on the government side of business incubation programmes, and puts these in the context of the overall system in which they operate. The process of business incubation is a dynamic one for the purpose of developing business enterprises, and to make them financially viable for when they have to leave, usually within two or three years. Incubators nurture new firms by helping them to survive and develop during their start-up period because it is during this time that they are most vulnerable and can therefore take advantage of assistance given to them. This could be in the form of managerial, administrative, financial or legal assistance for example, and in the case of technology based incubators in particular, in the form of technological assistance. The types of facilities offered in incubators usually include shared offices, equipment, etc. The leases are also

Discussion Board for criminal justice Assignment - 3

Discussion Board for criminal justice - Assignment Example Abolishment was beneficial in initiating reforms in the prison system. The powers of the Federal Prison System reduced significantly after abolishment of the parole system. The role of pardoning prisoners remained solely on the president. Prisoners can only accumulate their time off for portrayal of good behavior (Alarid, 2010). In this manner, convicts developed responsibility and social transformation or rehabilitated after getting back to the society. The decision was beneficial to the society through improved safety from reduced instances of repeated crime by released convicts. The decision to oversee abolishment of the Federal Parole has ensured a safer society where convicted criminals do not mix freely with others. It is highly probable that convicts would engage in other subsequent criminal activities that threaten peaceful existence of the society. Besides, it would be costly to manage the convicts while on probation outside prisons. Convicted criminals could be more risky and fatal when left to have freedom while engaging freely with other society members. The society, therefore, is safe, just and secure after the abolishment of federal parole for

Ancient Egyptian architecture had a number of well known generic Essay

Ancient Egyptian architecture had a number of well known generic building types (pyramids, Mortuary temples and so on). Select o - Essay Example The word ‘pyramid’ was adopted from the Greek word of ‘pyramis’ that stands for ‘wheat cake’ (Ancientegypt.co.uk). The word pyramis was used by the Greeks to refer to the ancient buildings in Egypt because they resembled the Egyptian wheat cakes with pointed tops. The later dynasties of the Old Kingdom were flourishing in terms of economy and stability and thus the Kings held a notable position in that era. They were seen as divine majesties and were thought to be gods’ servants on earth who facilitated the people. As a result heavy reverence was attached to the kings and all measures were taken to secure the king’s majesty even after his death. Since it was believed that a part of the king’s soul remained with the body to help him rule the dead ones, the body was turned into a mummy to preserve it and all possible equipments were buried along with him that were thought to facilitate the king. These equipments involved vesse ls, cutlery, furniture and even food items. Thus the pyramids built for these dead kings became the focus of the world’s attention and were included into the ancient Seven Wonders of the World. Early History The history of pyramids dates back to the very early time of the Dynastic Era, when tombs with flat roofs were carved out of rocks for the kings, then known as ‘mastabas’. These mastabas were short rectangular constructions with two paired offering niches and exterior open air chapels marked by crude brick walls (Reisner, 1934). These structures marked the birth of pyramids. The procedure involved building a mastaba on top of another but smaller in size of the one below it. This resulted in a hierarchy of mastabas, ending up in a triangular like structure now known as pyramid. Contrary to mastabas, this structure was completely made out of stone and had a similar chamber for burial as in a mastaba. The first pyramid of this style was built at Saqqara and was known as the Step Pyramid (Thinkquest.org, 1992). It was built by the architect Imhotep to preserve the body of the King Djoser, who ruled Egypt during the third dynasty. The memorial was 62 feet tall, with six steppes terraces made out of stone and had a number of shrines and courtyards around it. Today, it is the oldest discovered architectural monument on earth and is now referred to as the Great Step Pyramid. The stepped pyramid style continued for several years until the first attempt at the smooth-sided pyramid was did at Dahshur by the Pharaoh Snefuru (Dunn and Winston, 1950). The pyramid was 300 feet high and was coated with limestone on the outside. Unfortunately, the sides of this pyramid turned too steep about halfway towards the top, resulting in an uneven structure. This resulted in a failed attempt at building a smooth-sided pyramid; however the change was a turning point. Archeologist wonder if the material was running low that caused the labors to complete the pyrami d in this shape. A second attempt was made again by Pharaoh Snefuru to build a smooth-sided pyramid. This time the construction turned out more flat and even and, thus, ‘The Red Pyramid’ was born. The Red Pyramid is 345 feet high and has an angle of 43 degrees (Sacred-Destinations, 2005). It contains three chambers

Who is mainly responsible for the tragedy that befalls Romeo and Essay

Who is mainly responsible for the tragedy that befalls Romeo and Juliet - Essay Example It combines heavy elements of comedy and tragedy, of classical and medieval tragedy, to create a groundbreaking and long-lived piece of art that continues to have tremendous influence in our culture as a well-known reference point. Nevertheless, the ingredients for tragedy are all there: the untimely death of the protagonists, the death of a young love, and a solemn prologue proposing that a sacrifice must be made to reconcile two feuding households. This foreboding preface to the play’s action gives the sense that its outcome is fated, and that those ultimately responsible for the sacrifice must be guilty by some standard of cosmic justice. Strangely enough, however, all primary characters of the play add to the price that Romeo and Juliet must pay for the love they share. Fate plays an instrumental role throughout Shakespeare’s work. In Romeo & Juliet, he places his audience in a position to observe their fate as the plot action unfolds. The audience is told that their story is one of â€Å"a pair of star-cross’d lovers† who â€Å"take their life†. Knowing this is their fate, the audience watches as their fates are realized. Our emotional connection with the character injects us with hope that the prophecies will be broken, and characters will alter their paths to the ending. However, the play unfolds as if under the direct control of destiny, and the audience is left questioning the existence of free will in such a world. When we look at how the plot of Romeo & Juliet is constructed, we see a plethora of well-placed factors that help drive its protagonists toward their untimely deaths. The Friar’s letter never arrives to tell Romeo that Juliet is not really dead; the protagonists are born to feuding families; Juliet is being forced into an arranged marriage; and so on. All of these make the outcome of the story seem inevitable, and, quite frankly, fated. In many ways, Romeo and Juliet are the victims of the

ANZ Bank Based on Porters Five Force Model Case Study

ANZ Bank Based on Porters Five Force Model - Case Study Example Substitutes are those products which are quite different in form but which offer a real alternative to the industry competitor’s product (Michael E Porter and sustainable competitive advantage, Chapter 4, p.40). A threat of substitute products means the easiness in changing consumer behavior to opt for substitute products. For example, ANZ is facing stiff challenges from other prominent banks domestically and internationally. Competitors always try to produce goods of the same quality at cheaper prices. The availability of more attractive substitute products will drive away customers from ANZ. ANZ is currently focusing more in the Asian market. â€Å"In a number of Asian countries, foreign banks cannot enter the market on an unrestricted basis† (Lewis, 2007). The restrictions in this region are a big handicap for ANZ. For the ample, Indian national banks can offer many products to their customers like mutual funds, term deposits, etc whereas it is difficult for ANZ to o ffer such products to Indian customers. The threat of new entrants depends on the barriers to entry. Barriers to entry depend on economies of scale, product differentiation capital requirements etc (Michael E Porter and sustainable competitive advantage, Chapter 4, p.35). The threat of new entrants in the second element in the analysis of an organization with respect to Porter’s five force theory. New entrants always weaken the power of an organization. In the case of ANZ, globalization has raised many concerns about the entry of new international banks in Australia and other countries. It is easy for an Indian or Chinese bank to establish the business in Australia at present because of the liberalized market conditions. In fact, the recent recession has destroyed the backbone of many of the Australian banking organizations like ANZ. On the other hand, China has not faced much trouble with respect to the recession and hence it is easy for Chinese banks to enter the Australian market and raise challenges to ANZ.

Genres of Literature Essay Example for Free

Genres of Literature Essay Genres of literature are important to learn about. The two main categories separating the different genres of literature are fiction and nonfiction. There are several genres of literature that fall under the nonfiction category. Nonfiction sits in direct opposition to fiction. Examples from both the fiction and nonfiction genres of literature are explained in detail below. This detailed genres of literature list is a great resource to share with any scholars. Types of Nonfiction: Narrative Nonfiction is information based on fact that is presented in a format which tells a story. Essays are a short literary composition that reflects the author’s outlook or point. A short literary composition on a particular theme or subject, usually in prose and generally analytic, speculative, or interpretative. A Biography is a written account of another person’s life. An Autobiography gives the history of a person’s life, written or told by that person. Often written in Narrative form of their person’s life. Speech is the faculty or power of speaking; oral communication; ability to express one’s thoughts and emotions by speech, sounds, and gesture. Generally delivered in the form of an address or discourse. Finally there is the general genre of Nonfiction. This is Informational text dealing with an actual, real-life subject. This genre of literature offers opinions or conjectures on facts and reality. This includes biographies, history, essays, speech, and narrative non fiction. Nonfiction opposes fiction and is distinguished from those fiction genres of literature like poetry and drama which is the next section we will discuss. Genres of Fiction: Drama is the genre of literature that’s subject for compositions is dramatic art in the way it is represented. This genre is stories composed in verse or prose, usually for theatrical performance, where conflicts and emotion are expressed through dialogue and action. Poetry is verse and rhythmic writing with imagery that evokes an emotional response from the reader. The art of poetry is rhythmical in composition, written or spoken. This genre of literature is for exciting pleasure by beautiful, imaginative, or elevated thoughts. Fantasy is the forming of mental images with strange or other worldly settings or characters; fiction which invites suspension of reality. Humor is the faculty of perceiving what is amusing or comical. Fiction full of fun, fancy, and excitement which meant to entertain. This genre of literature can actually be seen and contained within all genres. A Fable is a story about supernatural or extraordinary people Usually in the form of narration that demons trates a useful truth. In Fables, animals often speak as humans that are legendary and supernatural tales. Fairy Tales or wonder tales are a kind of folktale or fable. Sometimes the stories are about fairies or other magical creatures, usually for children. Science Fiction is a story based on impact of potential science, either actual or imagined. Science fiction is one of the genres of literature that is set in the future or on other planets. Short Story is fiction of such briefness that is not able to support any subplots. Realistic Fiction is a story that can actually happen and is true to real life. Folklore are songs, stories, myths, and proverbs of a person of â€Å"folk† that was handed down by word of mouth. Folklore is a genre of literature that is widely held, but false and based on unsubstantiated beliefs. Historical Fiction is a story with fictional characters and events in a historical setting. Horror is an overwhelming and painful feeling caused by literature that is frightfully shocking, terrifying, or revolting. Fiction in which events evoke a feeling of dread in both the characters and the reader. A Tall Tale is a humorous story with blatant exaggerations, swaggering heroes who do the impossible with an here of nonchalance. Legend is a story that sometimes of a national or folk hero. Legend is based on fact but also includes imaginative material. Mystery is a genre of fiction that deals with the solution of a crime or the unraveling of secrets. Anything that is kept secret or remains unexplained or unknown. Mythology is a type of legend or traditional narrative. This is often based in part on historical events, that reveals human behavior and natural phenomena by its symbolism; often pertaining to the actions of the gods. A body of myths, as that of a particular people or that relating to a particular person. Fiction in Verse is full-length novels with plot, subplots, themes, with major and minor characters. Fiction of verse is one of thegenres of literature in which the narrative is usually presented in blank verse form. The genre of Fiction can be defined as narrative literary works whose content is produced by the imagination and is not necessarily based on fact. In fiction something is feigned, invented, or imagined; a made-up story. The Oxford English Dictionary is a great place to consult for any further definitions of the different genres of literature explained here.

Forever And The Aloe Vera Company Marketing Essay

Forever And The Aloe Vera Company Marketing Essay Introduction: Forever, the aloe Vera company Established in 1978, forever living product giving best health and natural product to provide healthy and long life to the people and increase their personal value. Forever is sharing their product with whole world and giving great pleasure to get importance from product. On basis of new survey, forever, the aloe Vera product company becoming giant manufacture, distributor and publisher of Aloe Vera and as well as great bee products in the world. Forever is multi-billion company over the world and operating their business over 140 countries. Forever is international headquarter located in Scottsdale, Arizona, Rex Maughan, founder, President and CEO, Directs operations worldwide, its approx 9.25 million distributors enjoy the support, tools and guidance need to live healthier and wealthier life. Since their business grew and achieve high boost 9 millions of distributors over the world, their product line is increasing by day to day, which is some product e.g. Aloe Drinks, Bee products, Nutrition, Personal Care, Skin care and weight loss etc. Parker, B (2007) Forever Living Products (UK) ltd.  Forever Living Products (UK) ltd. () 4,5 Forever Company Background: Forever living products are commence their operational business form United Kingdom and after short period of time company ready to achieve largest provider of aloe Vera services over the world. In year of 1994, company was ready to spread their magic; first they start head office to the prestigious longbridge manor in Warwick. Forever company is operating and believing on Open door strategy policy meaning for new entrants are always welcome, and regular meeting and discussion are held throughout the year. In year of 2007, Companys revenue number is $2.1 Billion, forever transferred to the United States, which is larger location of business growing industry? Forever started their business as their distribution centre and now they can store 50 containers (1,000 pellets) of product form the US. Forever company successful distributor is packing order approximately 1, 35,000 orders annually. The distribution centre hosts to give increment to distributors and provide tour facilities and o peration. Parker, B (2007) Forever Living Products (UK) ltd.  Forever Living Products (UK) ltd. () 4,5 The Business projects opportunity Scope: By through of author view mission is, We endeavour to understand our customers business so well as to be able to offer comprehensive solutions to their problems. Author is describing if your mission gives ability to solving problem and accurate understanding with customer in business. It is great achievement for company portfolio and good indication of business reputation. Basically, Forever Companys scope strategy describing in following points: Company has been successful in the past but in market so many competitors are giving challenging by global operators expanding into the world. For be successful in the business environment company developing their current product and giving more consideration on RD to improve their services and value of money. To make new implementation on territory, and expand new customer and new market in the new location. To attract and build good relation with customer and distributors, who is giving repeat business from market? To keep distributors and customer loyalty safe provide rewards scheme. Company are trying to introducing new entrants in the team because they are brining new ideas and experience and giving flexibility into the incorporate world. Scribd.com  (2010) Available: http://www.scribd.com/doc/12982888/Busines Last accessed: 10th April, 2010 Marketing Strategy Business Techniques: Through of Roger Penske quotes; We believe that our strategy of aligning our brand mix with strong brands that are gaining market share helped us to perform in a tough first quarter market. Authors: Roger penske Gillian, F  Greenlight Greater Portland  portland.com, Available: http://http://thinkexist.com/search/searchquotation.asp?search=marketing+strategy Last accessed 12th April, 2010 In business marketing there is two important company strategy: How your business will address the competitive marketplace. How you will apply and give support to your day to day operations In Todays business environment is very competitive, there many companys trying to defeat/adopt forever company marketing plan or strategy, which only key success of forever company. So company must be aware of that and they have to make essential implementation and business research to the day to day basis to make safe position in the market. Company Sales Distribution Methods: Following given points describing company sales and distribution method. Points areà ¢Ã¢â€š ¬Ã‚ ¦ The Forever Marketing Plan: Company is promoting forever product to the distributors on the basis of incentive. To promoting with other consumer and arranging meeting, conference and gate to gather with them and explaining business plan and one day they will be a company revenue maker. Companys trying to reducing paper material, advertisement cost, staff cost that why they arranging formal meeting and conference. Basically business is depended on one people to other e.g. Tree bunch or queue. Marketing plan is only depend on people whos existing in business and they have to introduce new people in the business. Forever living company has good, long track history with new goods and services and forever product improving health without the same old prescriptions for how to feel better. So its give good niche for the reputed business developer. Distributors and Managers incentives and commissions: In the company new distributor price is at least 2 case credit values of goods purchases into any 2 constant months it will make you for qualify for the assistant supervisor level. On the level of supervisor will gives you 30% discount on the whole retail price and once supervisors reached to this level then, they will also eligible for the 5% month and individual bonus, then they can start to build their own team tree of business. New distributors are purchasing all products at a 15% discount on the full retail cost will be  £195 each time order of product. Assistant supervisor (2cc months) getting incentives 5% from new distributors. Supervisor(25cc 2 month) are making incentive 8% on the new distributors and 3 % on Assistant supervisors, which is give total 11% to the supervisors. Assistant Managers (75cc 2 month) are earning 8% on the top of Assistant supervisors and 5% from supervisors, so that is gives sum of 13% to Assistant managers. Finally Managers (120cc 2 month) are generating 10% from Supervisors and 5% from Assistant manager. Managers finally constant on 15% of total. BusinessTown.com  (2003) Business Plan, Available: http://http://www.businesstown.com/planning/creating-rainbow.asp Last accessed: 16thApril, 2010 Forever Business planning- Implementing plans: Business concept of Forever: The forever company has growing rapidly faster and faster and setting good position in competitive market and prepared for future. Companys trying to spread every where in the world and that why they are seeking to provide higher quality of product and services and also considering on skimming method, that is giving higher price rates, companys business will be leader in the market because, they are giving top quality, special services and high level of transaction. Forever key success reason: The success of forever is vary in importance but some are essentially very successful like companys providing high standard products, top class services and giving extra afford on distributors motivate them and they will multiple in short period of time and achieved position in the business. This business ideas is unique thats why in the market we are facing less competitors and we are growing very fast. Forever product is providing stability and peace to the customer and customers are getting their money worth back, so customer satisfaction is key success of Forever Company. Companys current situation/Financial situation: Net Asset Value: 75.10 Trade Time: Apr 19 Change:   0.37  (0.49%) Prev Close: 75.10 YTD Return*: 6.02% Net Assets*: 34.42B Yield*: 0.16% * As of 31-Mar-10 Forever companys current situation is going very well but some time they are facing some error, which is make wrong effect on business growth. But still if see growth of company is going every year high and high achieving their success. Product of company is giving great satisfaction to the consumer and feeling good by using company product. Yahoo! Finance  (2010) Fidelity Growth Company (FDGRX) , Available: http://http://finance.yahoo.com/q/bc?s=FDGRXt=1y Last accessed: 18th April, 2010 Forevers Market Analysis: following given sub points to state briefly and give full detail of market analysis. These areà ¢Ã¢â€š ¬Ã‚ ¦ The overall market of company: The overall company market is operating $150 million in the US and Canada. Company is operating two different groups, that is 1) Sales of product and 2) Adding new Entrants. First group has been operating low volume of profit but second group is generating high volume of profit, which is giving solid business competition to the completers. Company is leading business market and making higher revenue. Market Segments: The mass retailers are looking for low-priced products and high percentage of their goods and value to maintaining standard. Companys competitors are trying to make duplication of product and services which is diverting forever customer relation and stealing customer trust. Basically forever is spreading their business through of franchise. If distributors are capable enough capital and have excellent business ideas, they can also operate their own business under the forever company. Customer/consumer Needs: Customer needs are not only to enjoy benefits of product and services and also they are interested join this independent opportunities of companys business and build respected reputation in business world. Customers are demand are high about company product because of product is natural and long lasting value, which protecting them from future expenses e.g. medicine, weakness, un-healthiness and natural break down. Competitive Critical Analysis of Company: For topic explanation given points belowà ¢Ã¢â€š ¬Ã‚ ¦ Company operation overview: Across the UK and Asia there are many different firms that distribute the forever franchise. The huge majority wherever distribute only one and two low quality services as a very small filed of their overall distribution of business. In the company, there are providing many distribution firms that giving opportunities between a dozen and as many as one hundred forever products. These firms also to a wide variety of outlets including mass merchant accounts. Business opportunities: While the competitions is perfectly stand in, and giving a more of focus to, current important markets for this product, they are much less presser gaining the higher end of forever company market. Company is offering terrific potential because it has significant growth potential, and the competition is not well-introduced here. Might be company is not be largest but its appear a very strong status opportunity for a newer competitors. Threats and Risks: Company is facing some threat and uncertainty, because we are a new entrants firm, we do not anticipate a meaningful or prompt reaction our market entrance form our larger and more established competitors. We thought a solid reaction form existing distribution field is basically unlikely because the first competitors derive on a very small percent of their business from forever sales, and even that revenue is largely from different Franchise and Merchandisers. So we facing some threats like, if competitor are providing lowers their prices on the exact same products we are offering we will match their price on that product. That why we have to be keep updated with business environment changes and research, for solution forever companys is investing more money on Research and development to make unique implementation on the business. BusinessTown.com  (2003) Business Plan, Available: http://http://www.businesstown.com/planning/creating-rainbow.asp Last accessed: 16thApril, 2010 Sales and Marketing of Company: By through of Author said, Man does not only sell commodities, he sells himself and feels himself to be a commodity, and the sole purpose of marketing is to sell more to more people, more often and at higher prices. There is no other reason to do it. Erich, Sergio, F (2010)  DailyCelebrations  Sales and marketing qoutes, Available: http://http://www.dailycelebration.com/marketing2.htm Last accessed 20th April, 2010 Marketing Plan: Forever marketing plan is to work with our distributors on a day to day basis and implement innovate marketing programs for the company. Basically we are in corporate market so we have developed close working relationships with our distributors. In hence we will upgrade emphasis in new entrants sales calls to build credits. Company will closely building all of our marketing and sales efforts to project a consistent image of our company and a consistent positioning of our product or services. We will established this profile all our name Forever, The Aloe Vera Company and which we will attend meeting and conference some trade show and produce a colour catalogue these marketing initiatives are seen as supporting, not competing with our independent sales representative. Sales and Marketing Tactics: Companys primary tact is face to face selling and joining business opportunities. Spreading business opportunities hand to hand and giving importance to the need of customer and trying to displays, and in building a bigger forever business for our customers. Company will insist that our independent business tactics represent only non-competing, non-forever lines. We are organising meeting on daily basis on different location and giving motivation to the distributors and manger, they can set high target goal. Company is representing on a ledger basis, giving them incentives and bonuses on all sales of order in their exclusive territories. BusinessTown.com  (2003) Business Plan, Available: http://http://www.businesstown.com/planning/creating-rainbow.asp Last accessed: 16thApril, 2010 Michael Porters Five Forces on Forever, the Aloe Vera Company: In forever company business, the porters forces tool is playing important role to describe different characteristics on company business behaviour. It is also giving clear view to how to forever overcome their weakness and how forever can develop their fair advantage into the strength of company. These forces are also making awareness from competitors strategy, wrong steps into the business, new product failure, un-successful services or business opportunities. Reference:  http://www.metrixmedia.com/images/Porter03.gif Following point is describing company issues and assumption through of porters five forces that is stating competitive power in different situation: Supplier Power: Forever suppliers are demand increasing by day to day basis because company growth and profit margin is very high that why suppliers are forcing to the Forever to increased their power of supply. Forever product and services demand are increasing because of, they are giving life time valueless benefits. This is also kind of source where suppliers can ask for more benefits from company, if company is not agree on their demand, suppliers can switching to another company or other company competitors. If its happened then forever market value and relation with customer will affected in form of loss, diversity, failure of business. Buyer Power: Forever company product and business opportunity demand going up, so obviously consumer and distributors need will increased in form of facility, incentives, bonus, services etc. companys position is on standard and top level situation in the business market but in the business market forever have many competitors are there, those are looking for your one mistake and they will defeat you. So Forever Company aware of this, they have been flexible and understanding with buyer other wise company might be face failure in business. Buyer power is increasing because in market there is crucial competition between companies. So If forever will fail to satisfy buyer demand then could be buyer are start switching different alternative. If company deal with few, strong buyer, they are often able to dictate terms to Forever company. Competitive Rivalry: In this competition generation, if we see every one chasing their successful competitors and adopting and copying their strategy, innovation, services, schemes etc. Forever company is also market leading company that why some competitors like Fast track, kleenezee and Global world etc, are trying to defeat forever company. Forever companys always giving special consideration to make their suppliers and buyer will happy and satisfy, other wise they go elsewhere. But also company has to give a afford to whatever they do, on-one else can do, then company can often have tremendous strength in between competition. Threat of Substitution: Forever company powers unique and innovative that is reason many companies adopting and implementing their strategies on their business. E.g. for Kleenzee is adopting concept from forever company and giving tough competition to forever in the business. By this substitution companys seems to be decreasing their value in the market and their customer choosing different company product and services for this reason company might be loose their power in the market. Customer may substitute by doing the process manually or by outsourcing it. Threat of New Entrants: Todays every where competition is going in the business industry that is reason by my own point of view Present Generation is Competitive Generation New companies are just started their business, they start competition with other. Forever is giving opportunities to other people to make their own company by support of them but any how the new company are facing threat of substitution of product, services and technology etc. because of other competitors are already adopting their business tactics and strategies. That why forever always spending more investment on Research and development to regularly innovate unique ideas, which give confident to maintain their standard of services and customer trust on their company. If company have solid and effective barrier to entry, then they can perform on their position and take fail benefits of it. Porter, M (1995)  MindTools  Porters Five forces strategy, Available: http://http://thinkexist.com/search/searchquotation.asp?search=marketing+strategy Last accessed 21st April, 2010 Recommendation: When I meet face to face to the companys CEO to discuss the serious problem like many people do not know about Forever Company, because companys not Advertisement their product and independent business opportunities in different sources e.g. Newspaper, Television, Posters etc. Through of my point of view, they have to also provide variation of product, which is give different and unique experience to the consumer and its also make updated in between competitors. Implement important changes of adding an online benefits request system and provide online business opportunities, because of this company can also international customer and distributor. Forever company must be implement some important strategies like they have to provide more incentives for new distributors, that is one way to attract more distributors and once they will into the business then provide them standard percentages of incentives. Company should be provide companys financial, revenue, and profit margin information to the general people, its build trust and strong relation between customer and distributors and also for New Entrants, it will be first impression of company. In my point of recommendation, I suggest to company to give some percentage of concession on joining fees and order charges for student. Forever business offering necessary literature items and sundry items (e.g. carrier bags, guidelines book) not only to aid your product launches but also useful for education purpose and as business tools, this is also good source of education and knowledge. Conclusion of Project: Forever business has grown into as largest product selling company in the business world. Forever is not only one big business, but also million of successfully growing on home based business. It is also shared dream of many people that has made forever living the success it is. Forever is business strategy spreading all over world and providing un-forgettable service and product quality to their customer. Its also motivating people to join their business and giving opportunities to operate their own business.

Analysis of Human Resource Responsibilities

Analysis of Human Resource Responsibilities INTRODUCTION The title of the project is ‘Analysis of HR practices followed by ONGC with reference to TRAINING, PERFORMANCE APPRAISAL and SAP-HR MODULE . The internship encompasses understanding the unique HR practices employed by the organisation in PSU to enrich and sustain the culture of integrity, belongingness, teamwork, accountability and innovation, and enhance employee competencies continuously. The purpose of this project to be given is to understand the practical working and effectiveness of the core HR responsibilities with special concentration on: Training Performance Appraisal SAP-HR Module The scope of this study is to comprehend and adopt the practical working environment of an organisation. Here, a link has to be formed between the academic study and the actual in-world implementations of the knowledge. Its important to realize the effect of proper training on employees, transparency in the appraisal process and up to date technological support in the HR stream. For the above study, data is collected from various primary as well as secondary sources. Basic and general information is gathered from the library which comprises of various HR journals and magazines (names are mentioned in references). Interviews are taken of the employees and questionnaires are prepared and surveys are done. Various inputs are provided by the Company Guide during formal and informal meetings. Overview of TRAINING Training employees do have a significant role in modern business era. As an HR manager, the responsibility is to utilize the HR resources optimally and develop the skills of the employees so that they can contribute to the growth of the organization as well as to their personal growth. It leads to improved organization culture. Therefore, its important to understand: What different kinds of trainings / workshops are conducted by the organization? What are the criteria of nominations? How nominations are done? How many training sessions have to be conducted in a year? (Training Calendar) What the employees think about the training sessions? Training objective tell the trainee that what is expected out of him at the end of the training program. Training objectives are of great significance from a number of stakeholder perspectives, Trainer Trainee Designer Evaluator Trainer -The training objective is also beneficial to trainer because it helps the trainer to measure the progress of trainees and make the required adjustments. Also, trainer comes in a position to establish a relationship between objectives and particular segments of training. Trainee -The training objective is beneficial to the trainee because it helps in reducing the anxiety of the trainee up to some extent. Not knowing anything or going to a place which is unknown creates anxiety that can negatively affect learning. Therefore, it is important to keep the participants aware of the happenings, rather than keeping it surprise. Secondly, it helps in increase in concentration, which is the crucial factor to make the training successful. The objectives create an image of thetraining program in trainees mind that actually helps in gaining attention.Thirdly, if the goal is set to be challenging and motivating, then the likelihood of achieving those goals is much higher than the situation in which no goal is set. Therefore,training objectiveshelps in increasing the probability that the participants will be successful in training. Designer -The training objective is beneficial to the training designer because if the designer is aware what is to be achieved in the end then hell buy the training package according to that only. The training designer would then look for the training methods, training equipments, and training content accordingly to achieve those objectives. Furthermore, planning always helps in dealing effectively in an unexpected situation. Consider an example; the objective of one training program is to deal effectively with customers to increase the sales. Since the objective is known, the designer will designthat will include ways to improve the interpersonal skills, such as verbal and non verbal language, dealing in unexpected situation i.e. when there is a defect in a product or when a customer is angry.Therefore, without any guidance, the training may not be designed appropriately. Evaluator -It becomes easy for thetraining evaluatorto measure the progress of the trainees because the objectives define the expected performance of trainees. Training objective is an important to tool to judge the performance of participants. Systematic model training consists of five phases. The training should achieve the purpose of helping employee to perform their work to required standards. The steps are as follows: Analyze and identify the trainingneeds i.e. to analyze the department, job, employees requirement, who needs training, what do they need to learn, estimating training cost, etc The next step is to develop a performance measure on the basis of which actual performance would be evaluated. Design and provide training to meet identified needs. This step requires developing objectives of training, identifying the learning steps, sequencing and structuring the contents. Develop, this phase requires listing the activities in thetraining programthat will assist the participants to learn, selecting delivery method, examining the training material, validating information to be imparted to make sure it accomplishes all the goals objectives. Implementing is the hardest part of the system because one wrong step can lead to the failure of whole training program. Evaluating each phase so as to make sure it has achieved its aim in terms of subsequent work performance. Making necessary amendments to any of the previous stage in order to remedy or improve failure practices. Overview of PERFORMANCE APPRAISAL A very important function of the human resources department for any organization, are conducted to gauge the net worth of all its employees. Appraisal methods benefit the organization immensely. The aim of appraisals is to improve the present performance of the employees and draw on the future potential. The HR department undertakes this processes usually annually in which they procure, analyze and document facts about the performances of the employees of the organization. This provides employees and managers with opportunities to discuss areas in which employees excel and those in which employees need improvement. Performance appraisal in ONGC is conducted annually also known as E-PAR. All organizations practice performance appraisal in one form or another to achieve certain objectives. These objectives may vary from organization to organization or even within the same organization from time to time. It has been found that there are two primary objectives behind the use of this meth odology. One is to use it as an evaluation system and second, to use it as a feedback system. The aim of the evaluation system is to identify the performance gap. This means that it helps determine the gap between the actual performance of the employee and that required or desired by the organization. The aim of the feedback system is to inform the employee about the quality of his work or performance. This is an interactive process by which the employee can also speak about his problems to his superior. An effective performance appraisal system should emphasis individual objectives, organizational objectives and also mutual objectives. From the viewpoint of individual objective the performance appraisal should talk about What task the individual is expected to do? How well the individual has done the task? How can his performance be further improved? His reward for doing well. From the organizational view point a performance appraisal should generate manpower information, improve efficiency and effectiveness serve as a mechanism of control and provide a rational compensation structure. In short the appraisal system establishes and upholds the principle of accountability in the absence of which organization failure is the only possible outcome. Overview of SAP-HR Module SYSTEMS, APPLICATIONS AND PRODUCTS IN DATA PROCESSING- SAP. It is an enterprise resources planning Software Company based in Germany.It integrates all the functional units of an organization into a unified one.It deals with various activities done in the human resource department of an organization, such as, Personnel administration, personnel development, training and event management, payroll etc. SAP- HR Module distinguishes between task, job, position, and person. It provides access to all HR data and transactions in one location. Advanced SAP HR features are time management, payroll, travel management, training and development. Advantages of implementing SAP HR Module : Saves time and money, and improves information for decision making and Planning. Greater automation ensures greater accuracy. Improved reporting capability. Improved employee history data. Better budgeting, compensation adjustment. MAIN TEXT The information extracted from the primary and secondary sources of data pertaining to training, appraisal, and SAP HR module are as below: TRAINING ONGC accords top- most priority in the development of Human Resource through quality training, qualification up gradation programs and accreditation programs. ONGC also has the expertise to conduct customized training programs for its partners. In ONGC, there are following training institutes which are engaged in meeting, training and development needs of the vast human resource of the organization by designing and organizing training programs focused on organizational needs. ONGC has five training institutes of its own all across the country, viz. ONGC Academy, Dehradun Institute of Petroleum Safety Health and Environment Management, Goa School of Maintenance Practices, Vadodara Institute of Drilling Technology, Dehradun Institute of Oil and Gas Production Technology, Mumbai The training Institutes of ONGC are committed to : Impart best in class training programs across the entire industry. Continuously evolve training programs based on feedback from the participants. Provide training solutions to the corporation and partners, both from Indian and foreign, covering entire spectrum of operations. Providing best in class infrastructural facilities for the training programs. Focusing training programs on the emerging business opportunities of the corporation. ONGC measures its training in MANDAYS i.e. 01 man * 3days of training = 3 MANDAYS 10 men * 3 days of training = 30 MANDAYS Minimum target of 1400 MANDAYS are set per year. Training provided by ONGC is broadly divided into Three categories: Safety Technical Interpersonal skills During the internship study of various trainings programs are done in order to understand the objectives and deliverables. 1. SMP (Senior Management Programme) Program overview objectives: Since ONGC is extending its operations to various parts of the world, it is imperative that ONGC executives are exposed to International perspective and develop a mindset of global managers. Keeping this in view a comprehensive program has been specially designed for E-5 level Executives of ONGC. The program aims at: Understanding global perspective and developing a mindset of managing at international level. Build Customer Centric Work Culture Inculcating a mindset of Transformational leadership Evolving a culture of innovation and creativity ONGC Academy is in collaboration with MDI , Gurgaon for SMP 2. AMP (Advanced Management Programme) Program overview objectives: Designed for senior executives of ONGC to achieve the following objectives: Develop awareness and appreciation of the emerging business environment and its implications for the future of ONGC Help the participants to recognize the requisite mindset to make ONGC, a world-class organization Develop insights into the organizational processes that drive excellence Expose the participants to the best in business practices. ONGC Academy is in collaboration with IIM, lucknow . ONGC also provides Overseas Learning Sessions which includes visit to EP Industries and Executives meet in European / Western countries for exposure to best in Business Class Practices. E6and above level executives are eligible for AMP. For choosing the candidates for training / workshop sessions, nominations are done. Circulars are rotated to the Head of each department and they recommend the names of those employees which they think are appropriate to undergo the training. The institute plans and conducts training programs professional areas which involve holistic approach of management in effective accomplishment of various integrated tasks. 3. Executive Excellence through SMET, HOLSYM and Yoga Techniques Program objectives and Overview: The multi- dimensional etiological factors for stress need a multidimensional solution at physical, mental, emotional and intellectual levels. Yoga provides this holistic solution. Self Management of Excessive Tensions is the basic concept for designing this program for executives. The program aims at: Help participants understand the nature and sources of stress in individuals and in organisations, and enable them to understand the relationship of Stress to Managerial Effectiveness. Familiarise the participants with the techniques dealing with individual stress and Organisational stress and give them an opportunity to practice some techniques of Stress Management. Its a 5- days program conducted in Swami Vivekananda Yoga Anusandhana Samsthana , Bengaluru. 4. Global Managers Program objectives and Overview: Todays business environment has created many challenges where managers need to think globally as the world is transforming into a ‘Global Village. The program is designed: To provide professionals with a proactive approach to deal with cultural diversity in todays multi- cultural environment. To understand the domestic Business ethics, values and practices and as well as best global practices. To prepare the participants for the challenges ahead in the highly competitive global environment. ONGC is in collaboration with IIM, Bengaluru for this 5- days progam. 5. Self Development Program for Women Employees Program objectives and Overview: The effectiveness of women employees depends upon the ability to manage multiple roles. The program has been especially designed to focus on the demands of these multiple roles and skills set required for effective performance. The program caters to up needs of women professions facing the challenges of work family balance. The objectives of the program are: To develop basic values of life to make them effective at home and work place. To be able to identify individual goals and align those with organization goals. To increase personal motivation to do the best possible in the most effective way. To appraise the participants on various issues involved in personal growth and effectiveness. To increase personal motivation to do best possible in the most effective way. To make participants aware of their strength and areas of potential development 6. Train- The- Trainer Course Program objectives and Overview: The program focuses on the Adult Learning Process, is built around the â€Å"Three Wheels of Mastery† Expertise, Planning and Presenting, Engaging and Facilitating, which are essential for Internal Faculty members/ Black Belts for motivating others to apply Six Sigma on the job and for enhancing and accelerating their learning process. ONGC provides many discipline specific programs for is employees. Some Exploration Programs: Petroleum Risk and Decision Analysis Latest trends and Development in Estimation of Oil and Gas Reserves Workshop on Basin Evaluation and Modelling Techniques in Deep Water Depositional Systems Some Production Programs: Developments in Stimulation techniques and Candidate Well selection Advances in Water Control Technology Advances in Natural Gas Engineering Reservoir Engineering for Production Operations Some Engineering Programs: Welding and Inspection CAD for Mechanical and Process Logistics Management Flow Measurement and Instrumental Practice PERFORMANCE APPRAISAL Performance appraisal report is an index of an employees work performance over a given period of time. It is crucial for his or her career growth as it indicates the strengths, weaknesses, training needs, nature of job being performed and problems faced in work situation. The objectives of the performance appraisal system at ONGC are: To set norms and targets of work performance, as well as, to monitor the work progress of employees. To facilitate placement of employees in accordance with their suitability for different types of assignments. To provide an objective basis for determination of merit, efficiency and suitability for the purpose of promotion. To identify areas requiring exposure for training and development. The performance appraisal system seeks to evaluate: The work performance of an employee on the present job in relation to the expected levels of performance, both qualitative and quantitative. The extent of development achieved by the employee during the period under review. Evaluation of behavioural attributes, attitudes and abilities. Evaluation of potentials for assuming higher responsibility. Appraisal is done in three stages. First, KPIs/ KRAs are to be declared in March(beginning of appraisal year) then midterm evaluation is done which is compulsory in October and finally in March evaluation on performance of the employees is done. Employees get certain percentage of PAT based on their grades or marks of the appraisal. Earlier Appraisal was done on paper. Forms were distributed to the employees wherein they used to fill in the KPIs and then submit it. This system reported delay in recording appraisal reports. Low priority is accorded to recording appraisal reports as there was no visible accountability for delays. Inadequate time and attention was given to the process and last minute rush efforts were experienced. But now ONGC follows e-PAR which has distinct advantages: Streamlining of PAR process Uniform application of Company Policy Reduced Cycle- time and adherence to time schedules Enhanced data security and confidentiality Authenticity and audit trail of transactions Availability of on-line information System driven control and monitoring mechanism Performance based rewards and incentives for future The appraisal process constitute of one appraise and appraiser. Appraisee is the employee who fills the PAR form and submits it. Appraiser decides the KRAs/ KPIs with the employee then mid- term review is done. This is the duty of Reporting Officer. Then it is forwarded to the Reviewing Officer, who reviews it and then forward for co- review (in special cases) otherwise directly to the Moderating Officer. He sends it to Accepting Officer who accepts and forwards it to central PAR Section in Dehradun. (Refer Annexure 2) Circular of Roll out of e- PAR It suggested KPIs is issued first wherein dates are declared for joint setting of KPIs by Appraisee Appraiser. Commitment is made by the HRD group that a suggested list of KPIs applicable to different functional areas would be made available accordingly. HRD constituted a multidisciplinary committee comprising HR planners, corporate HRG and corporate PAR. This committee held detailed deliberations and consulted senior executives of different functional areas across the organization and come out with an exhaustive list of suggested KPIs. All Assessors and assesses may use the table during the process of setting KPIs. PAR DISCLOSURE, APPEAL AND COUNSELLING (A).Disclosure of PAR: The following information on PAR assessment would be shared with the employee on completion of PAR Final grades and marks given by the accepting Officer. Adverse comments (if any) Specific advice to be communicated for improvement (if any) Communication: The communication should be within 15 days of completion of PAR and in the form of system generated message in case of e-PAR. (B). Appeal and Review : Appeal may be preferred by aggrieved employees against assessed PARs as well as having adverse remarks/entry. Aggrieved employee may appeal once per assessment year directly to the Appellate Authority, through local PAR officer, instead of submitting through proper channel. The local PAR officer shall keep record and forward the same to concerned Appellate Authority, with intimation to Corporate PAR office. Appellate Authority (AA) : The designated Appellate Authority based on the reporting hierarchy have been defined in Annexure 3 and 4. While the hierarchy in the route has been defined in the table, Appellate authority must be minimum one rank higher than the Accepting Authority in any case. Each Appellate Authority shall constitute Appeal Review Committee (ARC) under him/ her comprising of representative of functional areas, with 3 members in each committee. In case Appellate Authority is at the level of GM or L- II, the members should not be below the level of E6 and for all other Appellate Authorities, members should not be below the level of E7. The meeting of the ARC shall be convened by each Appellate Authority once in a year preferably in the month of September/October, as the closing month of PAR process is generally August. The ARC may seek PAR record from respective location PAR Officer/ Corporate Officer, as the case may be. The Committee may also obtain views/recommendations of the concerned authorities involve in the assessment of the PAR, for which appeal is preferred, if needed. Based on the recommend ation of the respective ARC, the Appellate Authority shall finally decide on appeal. In case of Appellate Authority comprises of two directors, they may jointly decide on the appeal. If Appellate Authority considers and find reasonable grounds for revision of PAR grade on appeal made by aggrieved employee, such revision shall only be one step higher or lower to that of original grades for all categories. Any revision beyond one level or below will be decided by one level higher than the appellate authority, highest appellate authority being EC. For this proper justification /recommendation have to be given by the Appellate Authority. The decision of the Appellate Authority shall be conveyed to the Corporate PAR office / location PAR office, as the case may be, who in turn shall communicate to the employee in the Performa at Annexure5.The decision of the Appellate Authority shall be binding forever. No further appeal shall be entertained for the same assessment year. Each Appellate A uthority shall forward a status report on the disposal of Appeal to the Corporate PAR office for onward submission to the Director (HR). (C). Counselling: It has been decided in the 353rd EC Meeting to provide counselling to the employees with B, C, D grades and those cases having recommendations for counselling in the PAR. Scope of Counselling Group: The Counselling may be continued as an integral part of PAR process for widening employees development opportunities. The Counselling Group shall not review the final grading of the appraisee, assigned to him/ her by Accepting/ Moderation Authority. The Counsellors during the interviews of the employee shall ascertain the reasons, system constraints and the behavioural dimensions of the employees and efforts shall be made to develop self awareness for correcting personality traits. The Counselling Group shall send a report on each case to the office of Chief HRD. The Counselling Groups are to be assisted by the Corporate PAR officer at the counselling locations. The formation of Counselling Committees is depicted in Annexure 6. SAP- HR MODULE Scope of SAP- HR Module: 1) Personnel Administration Module (Including Establishment and Loans) Personnel Administration Module takes care of employee master data. Various PA processes have been built in this module. This module includes the loans and advances processes also. 2)Time Management Module Time Management Module takes care of Employees Leaves etc related processes. The Time Management component offers support in performing all human resources processes involving the planning, recording, and valuation of employees work performed and absence times. 3) Payroll Payroll module takes care of personnel claims, month end payroll run and pay slip generation. Form 16, Form 24 and all statutory statements related to personal income tax is also taken care by the payroll module. The System calculates the gross and net pay, which comprises the individual payments and deductions that are calculated during a payroll period, and are received by an employee. These payments and deductions are included in the calculation of the remuneration using different wage types. 4) Organisation Management Module: This module defines Organisational Hierarchy, positions, Head of sections etc and also deals with assigning employees to various departments / sections etc through proper positions. 5) SAMPARC:(ESS MODULE) SAMPARC stands for (System for Automated Management of Personnel Activities, Reimbursements and Claims) the employee self service portal of ONGC. Using ESS reports an employee can view his career details, leave details, training booking details etc using an ESS User Id. He can also write a mail to his personnel administrator if he detects any error in data recorded in the system. Getting started with SAP: On your PC, find the SAP Logon pad icon. The icon style varies deepening on the SAP version installed in your PC. To open Logon Window: Double click on the Toolbar â€Å"SAP Logon† on above Screen. Following Logon window shall open on your screen: This window lists all available servers to which you can Login with your user ID. Double click on the desired server name or click on the line and then click on ‘Log On. After a brief delay, following window shall open on your screen : To open the SAP Easy Access window : Enter your client number (It will always show 500 by default). Enter your SAP User ID. Enter your SAP User Password. Please remember that the Password is case sensitive. Press Enter on your Keyboard. SAP Easy AccessWindow Elements The SAP Easy Access user menu is the user-specific point of entry into the SAP System. A typical user menu (here, in the R/3 System) is shown below : The user menu contains those items such as transactions ,workflows, reports etc. you need to perform your daily tasks. If your system administrator has defined a user menu, it appears when you log on to the system. Various elements of the SAP Easy Access Window are shown above. Navigating in the SAP Screen You can expand and collapse menus in the workplace menu by choosing the dropdown arrows to the left of the menu items, as in the example below : To open an application in the workplace menu : Type the transaction code in the command box / field and then press Enter, or Navigate to the transaction node in the tree and Double-click its node in the tree, or Click on node and then press Enter Company Code: The company code is an organizational unit within financial accounting (FI). Personnel Area This field defines the location of the employee, e.g., ABAD (Ahmedabad), BRDA (Baroda), etc. Personnel Sub-area This field defines the duty assigned to the employee, e.g., OFDT (Office Duty), FLDT (Field Duty), OSDT (Offshore Duty), etc. Employee Group This field defines the employment status of the employee, e.g., Active, Retiree, Deputation-in etc. Employee Subgroup This field defines the Grade of the employee, e.g., E1, E2, E3, etc. Personnel Number This field defines the CPF Number of the employee. Pay roll Area: A payroll accounting area (often abbreviated to payroll area) is an organizational unit containing all of the employees for whom the payroll runs at the same time. The payroll accounting runs for payroll accounting areas. Each payroll accounting area determines the specific dates for which the payroll runs, the earliest payroll period for which retroactive accounting is possible, retroactive accounting recognition, and the periods for which the payroll runs. Organization Unit This field defines the Department / Section within the Organizational structure in which the employee is working, e.g., ICE, IRS, Drilling, etc. Position This field defines the post, which the employee is occupying within the organizational structure, e.g., Manager PA, Location Manager AMD Cementing, etc. Infotype: In SAP information is stored in info types. An Infotype can have further subtypes. Click here to view the list of Infotype being used in ONGC. Sr No. Transaction Codes Transaction Description 1 SBWP Mail Inbox 2 PA20 Display HR Master Data 3 PA30 Maintain HR Master Data 4 PA40 Personnel Actions 5 ZPT60 HR TIME : Time Evaluation 6 PP01 Maintain Object

Alexander The Great Essay -- essays research papers fc

Alexander the Great and His Achievements Alexander the Great was the king of Macedon. Alexander of Macedon, or ancient Mecadonia, deserves to be called the Great. Alexander the Great was considered one of the greatest military geniuses of all times. He was an excellent king, general, and conqueror. During his thirteen-year rule he conquered almost all the then known world and gave a new direction to history. He had established an empire after he died. His new empire helped many people live their lives. He improved the way of life in his empire in many ways. Conquering other lands spread the Greek traditions and language. Alexander the Great was born in Pella, the ancient capital of Macedon (Martin 192). He was the son of Philip II and Olympias. Philip II was the king of Macedonia and Olympias was the princess of Epirus (Stewart 18). Alexander had many interests in military strategies (Stewart 20). Once when Alexander was about seven years old, a group of Persian diplomats came to Ma cedon to see Philip. Philip was with his army fighting neighboring tribes so the diplomats stayed and talked with Alexander. They didn't except Alexander to ask questions about the size of the Persian army and the length of the journey to Susa (an important city in Persia). This shows one of Alexander's early interests (Stewart 21). Philip decided to buy Alexander a racehorse when Alexander was ten or eleven years old. The horse was named Bucephalas. Bucephalas' behavior did not please Philip. Philip ordered the horse's owner to take the horse away but Alexander declared that he could tame the horse (Stewart 21). Everyone applauded when they saw Alexander ride the horse. The rest of the company broke into applause, writes Plutarch, while his father, we are told, wept for joy, and when Alexander had dismounted he kissed him and said, 'My boy, you must find a kingdom big enough for your ambitions. Macedon is too small for you' (Stewart 22). Alexander needed more than horsemanship and self-confidence to be a good king. He needed discipline. Philip worried that Olympias spoiled the boy too much. For Alexander to learn those things, Philip hires a stern and a tough tutor to teach Alexander. His name is Leonidas. He monitored Alexander's meals and exercises. Leonidas didn't trust Olympias. He suspected she tried to smuggle extra food in Alexander's marching gear. The man [Leonidas] him... ...f his empire. Antigonus took over in Macedonia and Greece, Seleucus took over Persia, and Ptolemy took over Egypt. The richest, most powerful, and longest lasting of these kingdoms was Ptolemy's (Stewart 113). Ptolemy established the world's first scholarly research institute. Its massive library had the goal of collecting all the books (that is, manuscripts) in the world (Martin 210). Alexandria produced many achievements. Alexandria had museums and libraries. They built many royal palaces. An enormous stone lighthouse called the Pharos was a tomb that contained Alexander 's coffin. Hellenistic sculpture was very famous. People purchased many statues. The largest Hellenistic statue is the Colossus of Rhodes (Martin 211). Although Alexander created a new empire, he wasn't around to see it flourish. Alexander won many respects of many people and other kings. He was a great ruler and general. He had conquered most of the land explored in a short number of years. The Hellenistic Age was an important age after Alexander's reign. Alexander's empire improved ways of life in Greece in many ways. Alexander created one of the best empires ever built. Bibliography Self Made Words: 1403