On Quake, Marilyn Manson, Doom, The Matrix, And How They Corrupt Ameri

On Quake, Marilyn Manson, Doom, The Matrix, And How They Corrupt America's Youth Disclaimer: I do not promote youth violence, but even if I did, it's the parent's job to make sure my opinion doesn't affect their children. Do I really have to say anything else? The disclaimer say enough, but to drive my point across, I'll repeat it in several different ways in the next few paragraphs. First of all, I want to say that I am 100% against censorship. It totally goes against a little law called THE 1ST AMENDMENT! And as for pressuring the movie, music, television and video game industries into producing cleaner content goes, we do need some of that. But I must say, ratings aren't there because companies put them there for fun. For each of the above mentioned, there are rating and parental advisory systems. If you need a little refreshment on what they are, write me and I'll send you a copy of them. But that really isn't necessary considering that: every single movie you've ever seen has its rating on the box, on the posters, on the ticket, next to it in your TV guide, and sometimes shows it nice and big right before the movie; every single CD or cassette you have bought in the last few years, if it contained what was deemed inappropriate material for people under 18, had a warning label on the packaging; all TV shows now show a rating at the top of your screen at the beginning of the program and after commercials, and ratings are also listed with the title in TV listings; every video game you 've bought since the second phase of Super Nintendo games has a rating on the packaging and on the game itself. So booya if you say there's no way of knowing if the material is inappropriate for your kid or not! Wise up and pay attention! I know what you're saying, ?The ratings are there, but who is deciding these ratings and what sort of standards are they using The people who decide this stuff aren't idiots. They judge the content of every line in the film, making note of every curse word, sexual reference, and violent suggestion. Sometimes they screw up and leave out a little detail, or don't recognize the offensive reference because of the way a line is used or the modern language used. Some examples: ? On Nickelodeon, there was a character on ?All That? who sat in a bathtub with a rubber duck and wore a yellow rain hat. He would say things like ? Do you want to squeeze my ducky? and make references to monkeys a lot. I couldn't believe this was even on Nickelodeon, much less rated TV Y. ? The review panel may not recognize ?roll up a fatty? or another modern term as a drug reference. ? Mufasa's death in ?The Lion King? did not cause the movie to receive a PG rating because the battle scene towards the end of the movie (in which another character dies) was deemed suitable, and so therefore Mufasa's death was also suitable. Those are only specifics, but I have seen a few cartoons I didn't think were for the younger crowd because of the violence or situations the characters were faced with. So here's the solution to safe-guarding your kids if you think ratings don't help enough: watch the show or movie with them, listen to the music before you give it to them, and find out what a game is about before you buy it. Lastly, PAY MORE ATTENTION TO YOUR KIDS!!! Just because we are teenagers and you think we are pretty grown up doesn't mean we won't be affected by the stuff we are exposed to. It also doesn't mean that we always make the best decisions concerning what we watch, listen to, or play. Lastly, if you don't notice that your child is building bombs in your basement, he should blow YOU up. At least then the problem will be half solved. Bibliography -All above is from my6 own experiences Movies and Television

Cost Sheet Analysis of Britania Essay Example

Cost Sheet Analysis of Britania Essay Example Cost Sheet Analysis of Britania Essay Cost Sheet Analysis of Britania Essay Affiliated to Guru Gobind Singh Indraprastha University, Delhi 2A amp; 2B, Madhuban Chowk, Outer Ring Road, Phase-1, Delhi-110085 Cost Sheet Analysis of Britannia Bread STUDENT s DECLARATION This is to certify that I have completed the Project titled COST SHEET ANALYSIS OF BRITANNIA BREAD under the guidance of Ms. NITIKA SHARMA in the partial fulfillment of the requirement for the award of the degree of Bachelor in Business Administration from Rukmini Devi Institute of Advanced Studies, New Delhi. This is an original work and I have not submitted it earlier elsewhere.Name of the Student – RINKI KHATRI Enrollment No. 03515901711 Class amp; Section- BBA – SEMESTER 3 CERTIFICATE OF GUIDE This is to certify that the project titled COST SHEET ANALYSIS OF BRITANNIA BREAD is an academic work done by RINKI KHATRI submitted in the partial fulfillment of the requirement for the award of the degree of Bachelors in Business Administration from Rukmini Devi Institute of Advanced Studies, New Delhi. under my guidance and direction. To the best of my knowledge and belief the data and information presented by him / her in the project has not been submitted earlier elsewhere.Name of the Faculty – NITIKA SHARMA Designation of the Faculty RDIAS ACKNOWLEDGEMENT I offer my sincere thanks and humble regards to Rukmini Devi Institute Of Advanced Studies, GGSIP University, New Delhi for imparting us very valuable professional training in MBA. I pay my gratitude and sincere regards to Ms. Nitika Sharma, my project Guide for giving me the cream of his knowledge. I am thankful to him as he has been a constant source of advice, motivation and inspiration. I am also thankful to him for giving his suggestions and encouragement throughout the project work.I take the opportunity to express my gratitude and thanks to our computer Lab staff and library staff for providing me opportunity to utilize their resources for the completion of the project. I am also thankful to my family and friends for constantly motivating me to complete the project and providing me an environment which enhanced my knowledge. Name of the Student – Rinki Khatri Enrollment No. 03515901711 Class amp; Sec – BBA-2-3 SEMESTER Executive Summary This project is an attempt to give knowledge about Cost Sheet Analysis of Britannia Bread. It aims to make its reader well versed with each and every aspects of Britannia Bread.It throws light on the following:- 1) In 1st chapter you will find the introduction of the project report and its objective. 2) In 2nd chapter you will find the introduction of Britannia Company, its history 3) In 3rd chapter, you will find the research methodology used in the project report. 4) In 4th chapter you will find how data is collected and its analysis. 5) In 5th chapter there are findings and conclusion about 5the project report. 6) In 6th chapter you will find some suggestions about the project. CONTENTS TOPIC PAGE NO Chapter I †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 8-34 Plan of the Study . 1Introduction to topic 1. 2 Objective of the study 1. 3 Literature review And/or Theoretical Background Chapter II†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 35-43 Company Profile / Industry profile or details Chapter III†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦44-49 Research Methodology 3. 1 Purpose of the study 3. 2 Research Objectives of the study 3. 3 Research Methodology of the study 3. 3. 1 Research Design 3. 3. 2 Data Collection 3. 3. 3Method of data collection 3. 3. 4Limitations Chapter IV†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦50-60 Data Analysis and Interpretation Chapter V†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 61-64 Findings amp; Conclusions Chapter VI†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦65-66Suggestion/ Recommendation BIBLIOGRAPHY†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 67 ANNEXURES†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 68-70 Chapter 1 Introduction MEANING OF COST COST’ repr esents a sacrifice of values, a foregoing or a release of something of value. It is the price of economic resources used as a result of producing or doing the thing costed. It is the amount of expenditure incurred on a given thing. Cost has been defined as the amount measured in money or cash expended or other party transferred, capital stock issued, services performed or a liability incurred in consideration of goods and serviced received or to be received.By cost, we mean the actual cost i. e. historical cost. ICWA (UK) defines cost as the amount of expenditure (actual or notional) incurred on, or attributable to a specified thing or activity. CLASSIFICATION OF COST Cost classification is the process of grouping costs according to their common features. Costs are to be classified in such a manner that they are identified with cost center or cost unit. ON THE BASIS OF BEHAVIOUR OF COST Behavior means change in cost due to change in output. On the basis of behavior cost is classified into the following categories: FIXED COSTIt is that portion of the total cost which remains constant irrespective of the output upto capacity limit. It is called as a period cost as it is concerned with period. It depends upon the passage of time. It is also referred to as non-variable cost or stand by cost, capacity cost or period cost. It tends to be unaffected by variations in output. These costs provide conditions for production rather than costs of production. They are created by contractual obligations and managerial decisions. Rent of premises, taxes and insurance, staff salaries constitute fixed cost. VARIABLE COST This cost varies according to the output.In other words, it is a cost which changes according to the changes in output. It tends to vary in direct proportion to output. If the output is decreased, variable cost also will decrease. It is concerned with output or product. Therefore, it is called as a product cost. If the output is doubled, variable cost will also be doubled. For example, direct material, direct labour, direct expenses and variable overheads. It is shown in the diagram below. SEMI-VARIABLE COST This is also referred to as semi-fixed or partly variable cost. It remains constant up to a certain level and registers change afterwards.These costs vary in some degree with volume but not in direct or same proportion. Such costs are fixed only in relation to specified constant conditions. For example, repairs and maintenance of machinery, telephone charges, supervision professional tax, etc. ON THE BASIS OF ELEMENTS OF COST Elements means nature of items. A cost is composed of three elements, material, labour and expenses. Each of these elements can be direct and indirect. DIRECT COST It is the cost which is directly chargeable to the product manufactured. It is easily identifiable. Direct cost consists of three elements which are as follows:DIRECT MATERIAL It is the cost of basic raw material used for manufacturing a product. It becomes a part of the product. No finished product can be manufactured without basic raw materials. It is easily identifiable and chargeable to the product. For example, leather in leatherwares, pulp in paper, steel in steel furniture, sugarcane for sugarcane etc. what is raw material for one manufacturer might be finished product for another. Direct material includes the following: 1. All materials specially purchased for production or the process. 2. All components purchased for production or the rocess. 3. Material transferred from one cost center to another or one process to another. 4. Primary packing materials, wrappings, cardboard boxes etc, necessary for preservation or protection of product. Some of the items like nails or thread in the store are a part of finished product. They are not treated as direct materials in view of negligible cost. DIRECT LABOUR OR DIRECT WAGES It is the amount paid to those workers who are engaged in the manufacturing line for conversion of raw materials into finished goods. The amount of wages can be easily identified and directly charged to the product.These workers directly handle raw materials, work in progress and finished goods on the production line. Wages paid to the workers operating lathes, drilling, cutting machines etc are direct wages. Direct wages are also as productive labour, process labour or prime cost labour. Direct wages include the payment made to the following group of workers: 1. Labour engaged on the capital production of the product. 2. Labour engaged in aiding the operations viz. Supervisor, Foreman, Shop clerks and Worker on internal transport. 3. Inspectors, Analysts needed for such production. DIRECT EXPENSES OR CHARGEABLE EXPENSESIt is the amount of expenses which is directly chargeable to the product manufactured or which may be allocated to product directly. It can be easily identified with the product. For example, hire charges of a special machine used for manufacturing a product, cost of designing the product, cost of patterns, architects fees/surveyors fees, or job cost of experimental work carried out especially for a job etc. Cost of special drawings, cost of special layout designs, patents, patterns, cost of models, surveyors fees, Excise duty, royalty on production, cost of rectifying defective work.Utility of such expenses is exhausted on completion of job. INDIRECT COST It is that portion of the total cost which cannot be identified and charged directly to the product. It has to be allocated and apportioned and absorbed over the units manufactured on a suitable basis. It consists of the following three elements: INDIRECT MATERIAL It is the cost of the material other than direct material which cannot be charged to the product directly. It cannot be treated as a part of the product. It is also known as expenses materials.It is the material which cannot be allocated to the product but which can be apportioned to the cost units. Examples are as follows: 1. Lubricants, cotton waste, oil, grease, stationery etc 2. Small tools for general use 3. Some minor items such as thread in dress making, cost of nails in shoemaking etc INDIRECT LABOUR It is the amount of wages paid to those workers who are not engaged on the manufacturing line, for example, wages of workers in administration department, watch n ward department, sales department, general supervision. INDIRECT EXPENSESIt is the amount of expenses which is not chargeable to the product directly. It is the cost of giving service to the production department. It includes factory expenses, administrative expenses, selling and distribution expenses etc. Overheads Or On Cost Or Burden Or Supplementary Cost Aggregate of indirect cost is referred to as overheads. It arises as a result of overall operation of a business. According to Weldon overheads mean, the cost of indirect material, indirect labour and such other expenses, including services as cannot conveniently be charged direct to specific cost units.It includes all manufacturing and nons of such costs are rent, rated and taxes of factory premises, salary of general manager, foreman, watchman, insurance, depreciation etc. These expenses incur according to the unit of time and not according to level of production. Hence sometimes it is called as periodic cost.For example such fixed cost is ascertained of a particular concern Rs. 12000 pm. The capacity of this concern is to produce 1000 units pm. If they produce 100 units or 500 units or 700 units or 100 units the fixed cost will remain constant at all these levels of output. This fixed cost remains fixed at all levels of output, but the cost per unit changes if there is a change in the level of output. VARIABLE COST It is the cost which tends to vary directly with the volume of output. If there is increase in output this cost increases and vice versa. The change in the variable cost takes place in the same direction in which the level of output changes.This cost consists of direct materials, direct wages, direct expenses and some part of indirect expenses which varied according to the level of output. Say for example if standard unit of final product requires the raw materials of Rs. 20 per unit the expenses on direct materials will change if level of output changes. However variable cost per unit will remain unchanged provided the price level d oes not change. SEMIs of such expenses are depreciation of plant and machinery, maintenance of factory building etc.These expenses will increase if factory is run from single shift to double or triple shifts. Depreciation and maintenance will increase but not in the same ratio, the output increases. Thus these expenses are neither fixed nor variable cent percent. Hence they are called as semi variable expenses. OBJECTIVES OF THE STUDY 1. This project was undertaken to have an insight into the cost structure of Britannia. 2. The objective of cost sheet analysis is to determine the cost and with this cost we can find profit margin for the Britannia. 3. To study how cost sheet analysis is helping the Britannia Company in controlling the cost. 4. To analyse the cost of advertisement done by Britannia Company through cost sheet analysis. 5.To study, how Britannia Company determine the cost of its product through cost sheet analysis. LITERATURE REVIEW The multi-billion food and beverage i ndustry comprises several markets including bakery products such as bread, biscuits etc. , milk and dairy products, beverages such as tea, coffee, juices, bottled water etc. , snack food, chocolates, etc. beverage, confectionery, processed foods and others. Indias Food and Beverage industry is valued at Rs. 3584 billion. India produces above 600 million tonnes of food products every year and is one of the major producers of food in the world. The food and beverage industry registered a growth rate of 8. 5% in 2005-06.With increase in disposable income of consumers, growing awareness among consumers about health products, rapid urbanization, and increasing popularity of convenience foods, food and beverage sector is expected to grow at a high rate. This sector holds a huge potential to grow because of the increase in advertisement spending, awareness campaign about products in urban as well as rural areas, and large scale transformation. The food and beverage industry is primarily dr iven by consumer health trends. Presently, the food and beverage industry is in a dynamic phase, marked by a high degree of competition. As product development within the food and beverage market moves towards a focus on health and nutrition, the growth and development of food manufacturers in the market depends on having prudent strategies in place, which can be applied globally.In effect, this has created a highly competitive market place, which fosters growth of participants with a clear vision of growing with their customers. The major players in the Food and Beverage Industry is: Heinz, Mars, Marico, Conagra, Pepsi, HLL, Pillsbury, Nestle, Amul, ITC, Dabur, Britannia, Cadbury, Smith Kline Beecham, The Surya Food and Agro Private Ltd. Bakery industry in India is probably the largest among the processed food industries, production of which has been increasing steadily in the country. Bakery products once considered as sick man’s diet have now become essential food items o f the vast majority of population. The two major bakery industries, viz. bread and biscuit account for about 82% of the total bakery products. The annual production of bakery products which includes bread, biscuits, pastries, cakes, buns, rusk, etc. , most of which are in the unorganized sector, is estimated to be in excess of 3 million tonnes. The production of bread and biscuits in the country both in the organized and unorganized sectors is estimated to be around 1. 5 million tonnes and 1. 1 million tonnes respectively. Of the total production of bread and biscuits, about 35% is produced in the organized sector and the remaining is manufactured in the unorganized sector. Indian Bakery sector is indicating significant growth both in terms of volumes and customer base.The sector, which is estimated at Rs 3,500 crore, is currently registering a 40% growth according to industry sources. The production of Bakery products has increased from 5. 19 lakh tonnes in 1975 to 18. 95 lakh tonn es in 1990 recording four-fold increase in 15 years. Some of the well-known and most frequented bakeries in the country are Sweet Chariot, Modern Bakery, Daily Bread in Bangalore, Monginis, Birdies, Croissants in the west, and in the north and eastern parts of the country, there are quite a few big players too. Bread is the cheapest and basic instant food available for consumption. Though bread is not a staple food in the country, its consumption has increased over the years.In India it is still a secondary staple food when compared to chapatti, puri or rice. The different types of bread available are White bread, Whole meal or whole wheat bread, mixed grain bread, Kibbled wheat and cracked wheat bread, Fibre-increased white breads, Rye bread Chapter 2 Company Profile INTRODUCTION TO BRITANNIA INDUSTRIES Britannia Industries Limited (BIL) is a major player in the Indian Foods market with leadership position in Bakery category. Its brand portfolio includes Tiger, Marie Gold, Good Day , 50:50 and Treat. The Company was born in 21st March of the year 1918 as a public limited company. The Companys plants are situated in Kolkata, Delhi, Chennai, Mumbai and Uttarakhand.In 1921, it became the first company east of the Suez Canal to use imported gas ovens. Britannias business was flourishing. But, more importantly, Britannia was acquiring a reputation for quality and value. As a result, during the tragic World War II, the Government reposed its trust in Britannia by contracting it to supply large quantities of service biscuits to the armed forces. A new factory was established in the year 1924 at Kasara Pier Road in Mumbai. In the same year, the Company became a subsidiary of Peek, Frean amp; Company Limited, U. K. , a leading biscuit manufacturing company, and further strengthened its position by expanding he factories at Calcutta and Mumbai. In 1952, the Kolkata factory was shifted from Dum Dum to spacious grounds at Taratola Road in the suburbs of Kolkata. During th e same year automatic plants were installed in Calcutta and later in 1954 the automatic plants were installed in Mumbai plant, also in the same year the development of high quality sliced and wrapped bread in India was initiated by the company and was first manufactured at Delhi and a new bread bakery was set up at Delhi in the year 1965. Britannia Biscuit Company takes over biscuit distribution from Parrys during the year 1975. In 1976, the company had introduced Britannia bread in Calcutta and Chennai.During the year 1978, the company made Public issue, in that Indian shareholding crossed 60%. The Company re-christened from Britannia Biscuit Company Limited to Britannia Industries Limited with effect from 3rd October of the year 1979. The Company had signed a 10-year technical collaboration agreement with Nebico Pvt Ltd. , Nepal during the year 1980 for the supply of know-how relating to manufacturing, packaging and marketing of biscuits and selection of plant and machinery. Durin g the year 1989, BILs Executive Office was relocated to Bangalore. During the year 1990, two new brands of biscuits, Elaichi Creamand and Petit Beurre were launched.Also, in the same year a new cashew badam variant of the brand Milk Bikis and brand extension of pure magic biscuit Vanilla cream were launched, Fruit bread was launched in Delhi. The Company launched two new speciality brands in the year 1991 viz. , Britannia milk bread and Britannia brown bread in Delhi and extended nationally its main brands Petit Beurre and Elaichi Cream. In 17th August of the year 1991, the Company handed over its Soya unit at Vidisha, MP to SM Dychem Ltd. BIL had celebrated its Platinum Jubilee in the year 1992. After a year in 1993, Wadia Group had acquired the stake in ABIL, UK and becomes an equal partner with Group Danone in BIL.The Company was in re birth phase during the year 1997, new corporate identity Eat Healthy, Think Better leads to new mission of Make every third Indian a Britannia con sumer and in the same year BIL entered into the dairy products market. In 1998, BIL had launched Half/Half, a soft cake filled with cream in two variants, chocolate-vanilla and vanilla-orange. The Company had rolled out its flavored milk brand Zip-Sip in tetrapaks in the year 1999. Zip-Sip had been launched in Mumbai and some markets in the South. Forbes Global Ranking was rated the company during the year 2000, Britannia among Top 300 small companies. In the same year, the company had launched Britannia Milkman Butter, a product under the Milkman brand.BIL made its fund in-principle agreement to acquire 49 per cent of Kwality Biscuits in the year 2001 through internal accruals. During the year 2002, the company had entered into a joint venture with the Fonterra Cooperative Group, New Zealands biggest company and one of the leading diary co-operative groups in the world and the Britannia New Zealand Foods Pvt. Ltd was born. Pure Magic, the companys product was winner of the Worldsta r, Asiastar and Indiastar award for packaging in the same year 2002. After a year, in 2003, BIL had launched Treat Duet, most successful of the year and Britannia Khao World Cup Jao rocks the consumer lives yet again.During the year 2004, Britannia accorded the status of being a Superbrand and the brand Good Day added a new variant Choconut in its range. Reviewed marketing alliance with the Kolkata-based Thacker Dairy Products Pvt Ltd. In the year 2005, Britannia New Zealand had launched health drink for adult. The new plant in Uttaranchal, commissioned during the year 2005, it was ahead of schedule. In the same year, launched yet another exciting snacking option the Britannia 50-50 Pepper Chakkar. BIL had forged a strategic alliance with CCD Daily Bread Pvt Ltd in the year 2006, a Bangalore based Company engaged in manufacturing and retailing of premium breads, cakes snacks and high end ready to eat foods.In the year 2007, Britannia industries formed a joint venture with the Khimji Ramdas Group and acquired a 70 percent beneficial stake in the Dubai-based Strategic Foods International Co. LLC and 65. 4% in the Oman-based Al Sallan Food Industries Co. SAOG. The company was rated as the No 1 Most Trusted Food Brand in a survey conducted by AC Nielsen ORGO-MARG and published in Economic Times in the year 2007. Britannia launched Iron fortified Tiger Banana biscuits, Good Day Classic Cookies, Low Fat Dahi and renovated MarieGold during the period of 2008. BIL was ranked 27th place in the list of Indias Fastest Growing Large Companies by Business Today, Special on June of the year 2008. The story of one of Ind

Case 3 Exposing workers to Plutonium-Case Study

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Obesity Prevention in America - Essay Example Realizing the serious public health threat of obesity epidemic prevention focused action plan aimed at decreasing the number of obese children and youth in the United States has been developed by The Institute of Medicine (IOM), which gives explicit goals and recommendations of action plan for preventing obesity and promoting a healthy weight in children and youth in different segments of society based on the best available evidence. As community participation plays a crucial role in promoting health, a collaborative interdisciplinary partnership with community members is expected to further the U.S health initiatives by helping to identify effective strategies that support behavioral change among susceptile groups and implement sustainable program outcomes. Concerted effort by state and federal government, healthcare providers, community participants, as well as individual commitment to make lifestyle modifications will prevent the scourge of obesity and co-morbidities associated wi th it. Obesity is generally associated with consuming more calories than the body needs and imbalance between calories consumed and calories burned, which may be due to genetic, hormonal, behavioral, environmental, or even cultural factors. Overweight and obese people are at increased risk for developing many health risks, such as cardiovascular disease, stroke, hypertension, dyslipidemia, Type-II diabetes, insulin resistance and glucose intolerance, congestive health failure, osteoarthritis, sleep apnea and other respiratory problems, polycystic ovary syndrome, psychological disorders, stress urinary incontinence and kidney stones, cancer of the kidney, endometrium, breast, colon and rectum, etc. (The endocrine society weighs in, 2004, p.6-7). Because of many causes like frequent illness, constant tiredness, and inability to be active due to back pain, joint pain and shortness of breathe the quality and productivity of an obese person is adversely affected, leading to low personal esteem and severe financial crisis. As it is difficult to identify whether a person is obese or not, based on his or her physical appearance, it is essential to differentiate obesity from overweight. An individual with increased body mass index (BMI), a common measure calculation that assesses weight relative to height, which is at least 10 percent over a recommended weight or BMI > 25, is referred to as overweight. Because a patient's abdominal fat is a predictor of risk factors for obesity related medical conditions, physicians consider men and women who have waist measurement greater than 40 inches and 35 inches respectively as overweight. Obesity refers to a body weight that is at least 30 percent over the ideal weight for a specified height, or an individual with a BMI > 30. (The endocrine society weighs in, 2004, p.2). For getting precise information on obesity, in the research setting, physicians use computed tomography, magnetic resonance imaging, or electrical impedance for measuring body fat distribution. Because of the high cost and difficulty in practicing outside laboratory settings these investigations are not adaptable in daily clinical use among healthcare provide rs. However, considering the

Business Strategy Essay Example | Topics and Well Written Essays - 2000 words

Business Strategy - Essay Example This is the primary reason why management could not passively deal with the issues that concern the employees especially when dealing with the retail practices of business (Leat, 2001, 21). True, the situation of different organizations around the globe today are indeed changing massively, thus making it harder for their management teams to adjust on the said needs that they are supposed to adjust upon. As for a fact, decision-making is a major factor of management that requires adjustments in terms of actual application. People of different races intend to expect different things from the management Hence, it is then very important how effective management procedures could be affected by research procedures as per based in the theories of managing that shall be discussed within the following paragraphs of this paper. Along with this, the application of strategic choice in the different management activities that are to be handled for discussion shall also be tackled so as to know ho w it is possibly true that strategic choice becomes an element that subjects the business to different issues. As mentioned earlier, management requires one to be skillful enough in facing the different changes that the international set of business procedures offers the said systems of organizational operations. Hence, it could then be noticed that the management procedures accompanied by research yields better results on the part of the employers, the employees and the profit that the organization itself makes from the operations that it takes. Moreover, as research procedures aim to increase the knowledge of the people or the managers at that with regards the situation, the more they become competent in doing the job that they are supposed to complete. Through strategic choice application, most managers try to choose the right kind of solution that they ought to apply within certain situations. The examination of the different procedures by which managers

Global Business Cultural Analysis In Turkey Commerce Essay

Global Business Cultural Analysis In Turkey Commerce Essay Peculiarities of running business and transnational communications are directly related to the culture of the country. Globalization of the economy has undoubtedly become a commonly accepted phenomenon. Even small and medium businesses, wanting or not, face problems of international business relationships: be it the purchase of equipment, materials or other trade and procurement activities, search for partners or investors, not to mention the direct competition with multinational companies in their own domestic market. Larger players of market, in connection with its inevitable saturation, are forced to think about entering the international arena. All these factors make the study of culture of business relationships and international communication increasingly relevant for managers. Awareness about the peculiarities of a particular culture, the ability to consider and use these peculiarities in practice help some companies quickly and at less cost to establish relations with partners, and others to deal more effectively with rivals. The knowledge of the features of international communication is also useful for managers working in foreign companies, since they help to better adapt to a foreign environment, understand the requirements of top-management, permissible frames of conduct and, accordingly, to move faster through the ranks. Major dimensions of culture in Turkey and their influence on Turkish economy and business practices When building business relationships, finding partners for business, developing private business in the territory of another country, it is always necessary to take into account the totality of the rules of business etiquette and specificities of traditions of each cultural environment. Turkey has long been a secular state with European style of doing business, but it should be remembered that the influence of Islam, though not pronounced in recent times is reflected in some aspects of the Turkish business etiquette and bears a deep cultural meaning. Turkey combines European and Middle East traditions in the business culture, therefore common business etiquette here has some nuances which are useful to know for building successful and lasting business relationships. Lets consider these nuances. First, Turkey has a sufficiently well developed family-owned business with a clear hierarchy. Family traditions in Turkey are very important, both in life and in business (Burnaz, 2009). Second, different spheres of life in Turkey are influenced by religion. If the partners are religious people, one should keep in mind that Friday is a holy day for Muslims when they visit temple to pray, so no important business meetings and negotiations should be appointed on this day. Ramazan is a month-long sacred abstinence of all Muslims, during which one cannot eat, drink, smoke cigarettes from sunrise to sunset. This should be kept this in mind when planning a business lunch or dinner in a restaurant. During Ramazan it is better to appoint business meetings with Turkish Muslims after sunset, however, if it is possible to avoid them, it is better to postpone all negotiations until after Ramazan. Many Turkey residents leave on vacation in July or August, so the middle of summer is not the best time for negotiations and business meetings, while from October to May is the most active and fruitful period for Turkish business culture (Burnaz, 2009; OECD Economic Surveys: Turkey, 201 0). It should be remembered that as in any other country, courtesy and respect for etiquette in business in Turkey is especially important. Good personal relationships based on trust and mutual respect play a significant role in building business relationships with Turkish partners, therefore, before proceeding to business negotiations, it is necessary to show them openness and readiness for friendship and to emphasize the mutuality of benefits (Burnaz, 2009; Ararat, 2008, Gupta, 2009). Motivation in negotiating with the Turks should be clear and precise. It is very important in the process of business negotiations to clearly outline the advantages and profitability of a proposal for the Turkish side, although it is not the only thing a benefit may be expressed in for Turkish partners. Instead of profits it is recommended to focus often on such points of the transaction as increased authority and power. Respect, recognition and other intangible benefits may also have a positive impact on the outcome of business negotiations in Turkey (Gupta, 2009). Thus, understanding that Turkish culture is very different from European or American business culture is a big step in doing business in Turkey and with the Turks. It takes patience and time to learn all the ins and outs, but the Turks also show patience towards foreigners and willing to make allowances for any mistake or error in etiquette made by a foreigner. In general, Turkey is an attractive country to do business with the positive dynamics in the economy. Turkey managed to avoid large losses that might have occurred as a result of the global economic crisis of 2008-2009 (Turkey passes the crisis test, 2009). Having analyzed the economic development of Turkey for the period from 2002 to the present day, it can be argued that the state of the economy has become particularly favorable, due to the below factors (OECD Economic Surveys: Turkey, 2010; Turkey passes the crisis test, 2009; Turkey: Business environment at a glance, 2011; Aydin, 2006): à ¢Ã¢â€š ¬Ã‚ ¢ The currency reform in Turkey, 2002; reforms in social security and health care; tax reform beneficial for entrepreneurs; à ¢Ã¢â€š ¬Ã‚ ¢ TOKÄ ° Innovations (Housing Administration Projects) gave impetus to the development of national construction companies; à ¢Ã¢â€š ¬Ã‚ ¢ State support for small and medium-sized enterprises, which constitute 97% of the Turkish economy; à ¢Ã¢â€š ¬Ã‚ ¢ Increased economic growth in Turkey, which is largely due to the automobile industry, real estate and textile industry; à ¢Ã¢â€š ¬Ã‚ ¢ Successful investments in tourism; à ¢Ã¢â€š ¬Ã‚ ¢ Active development of the logistics sector in Europe; à ¢Ã¢â€š ¬Ã‚ ¢ New international communications and new markets: the most promising emerging markets for Turkey are China, South Korea, India, BRIIC group, as well as markets of Pakistan and Bangladesh; à ¢Ã¢â€š ¬Ã‚ ¢ Regional and social development: 40% of the EU budget is allocated to regional development and social infrastructure; à ¢Ã¢â€š ¬Ã‚ ¢ Funding at the expense of TOBB (the Union of Chambers and Commodity Exchange of Turkey); à ¢Ã¢â€š ¬Ã‚ ¢ Development of higher education: there are already 95 public and 45 private universities in Turkey. Apart from that, the Government of the Republic of Turkey considers foreign direct investment as the driving force of economic development and prosperity of the country. Turkey has one of the most liberal legal regimes for FDI among the member countries of the Organization for Economic Cooperation and Development (OECD). Except for some sectors, businesses that are open to the private sector in Turkey are mostly open to foreign partners and investors (OECD Economic Surveys: Turkey, 2010). Nevertheless, all investors, regardless of nationality, face a number of specific obstacles characteristic of developing Eastern countries: excessive bureaucracy, slow acting justice system, high taxes, corporate governance weaknesses, sometimes unpredictability of the decisions taken at local government level, as well as frequent changes in legislation and regulatory framework (Gupta, 2009). However, foreign investment regulation, for the most part, is transparent. Turkey supports national regime, including the purchase of real estate by foreign capital companies registered in accordance with Turkish law, and in most sectors no investment audit is provided (only notification is required). The Turkish Government supports the principle of transparency with the associated nation as a precondition for the acquisition of real estate by foreigners, and imposes a limit of 2.5 hectare of property acquired by foreign individuals. Individuals cannot own more than 10% of the land in any of the areas of industrial development (Kalafatoglu, 2010; Keyman, 2005;). The maximum share of foreign equity participation is limited to 25% in broadcasting and 49% in aviation and maritime transport. Establishment of companies offering financial services including banking and insurance, as well as oil-related companies, requires special permission from the Government of Turkey for both domestic and foreign investors. In practice, regulators do not restrict foreign ownership in the financial sector: in 2005 and 2006 a series of acquisitions by foreign persons were approved, and several foreign financial companies has been operating in Turkey for a long time (Ulusoy, 2009). The privatization process in Turkey is currently going on. The Government of the Republic of Turkey privatizes the state economic enterprises through selling lots of securities, public offerings, or a combination of both. The total amount of transactions in the Turkish privatization program amounted to 8.1 billion dollars in 2006, 4.3 billion dollars in 2007, and 6.3 billion dollars in 2008. The state continues privatization process, despite the fact that the reduction of global financial flows, which began in 2008, may entail certain obstacles (Ulusoy, 2009; OECD Economic Surveys: Turkey, 2010). Bureaucratic delays used to be significant obstacles to both national and foreign companies. However, recent reforms have simplified the process of establishment of companies, reduced the requirements to obtain permits, set a single form of registration of companies and enabled individuals to register their businesses in the Union of Chambers and Commodities Exchange of Turkey. Cross-cultural analysis: business cultures of USA and Turkey Generally, two polar opposite styles of management are distinguished, and consequently, business relation cultures: American or Western and Oriental styles. They are fundamentally different in structure of collection and exchange of information, separation and segregation of duties, degree of standardization, coordination and subordination. The American system is characterized by management based on science, individualism and personal responsibility, a clear division of labor, specialization, planning based on the analysis of large amounts of quantitative information. Oriental management system is based on collective responsibility, rotation system, long-term career planning, equation of employees to the company and its customs (Burnaz, 2009; Gupta, 2009). At the same time, in line with the Western style, there has recently distinguished a pan-European, also partly inherent to Turkey as an EU member, with a simultaneous focus on economic and social indicators, such as a guaranteed opportunity for staff development, involvement of employees in decision-making process, the emphasis on favorable climate in the company (Burnaz, 2009; Gupta, 2009). However, despite the tendency to unify business methods and communication standards, we believe that the explicit differences in business culture will remain in the future. Despite the huge variety of business cultures, there are methods to predict certain aspects of behavior of representative of a certain culture. Ones of the most applicable methods are the classification of countries according to G. Hofstedes four variative characteristics reflecting basic differences of cultural values, and contextual ranking of cultures, proposed by E. Hall (Cateora, 2000). According to these theories, the USA is a notable example of a country with a high index of individualism (IDV=91), when a separate individual poorly integrates itself into the group, and strong individualistic mentality is observed with a focus on the importance of personal life and initiative. The Turkish society is rather a society where the mentality of community relations dominates, so it is based on morality, sense of duty, predominance of the interests of the collective over the individual ones, and loyalty (IDV=37) (Table 1). Another important cultural dimension is the parameter of power (hierarchical) distance. Power distance index measures the tolerance of the society towards social inequality, i.e., unequal distribution of power between superior and subordinate members of the social system. The degree of distancing shows the relation of employees to the power of managers. Turkey has a culture with a high index of power distance (PDI=66), and power in Turkey may even be inherited. Here there is a significant difference between the members of the society who are at different social levels and difference in the privileges, which are perceived by the members of the society for granted. In countries with a low power distance index, like USA (PDI=40), the reverse pattern is observed (Table 1). The next quality largely determined by culture is the control of the level of uncertainty, which shows the extent to which members of a cultural community are programmed to freedom of action in unstructured non-standard situations. In this aspect, the USA and Turkey also hold totally different positions. As a country with high uncertainty avoidance index, Turkey (UAI=85) is less resistant to stress, more concerned with security issues and following the rules, which leads to poor perception of change and slow adaptation to new ideas. USA is characterized by culture with low UAI (UAI=46) associated with greater mobility, willingness to take risks, innovation, tendency to rely on knowledge, rather than absolute knowledge (Table 1). Moreover, the USA is rather a country described by Hofstede as the country with masculinity behavior (MAS=62), i.e. dominance, encouragement to competition, high demands, desire for career achievements and entrepreneurship, greed and passion for capital accumulation, lack of caring about others. In contrast, though attached now to the European community, Turkey still belongs to femininity pattern (MAS=45) and the prevailing values are humility and altruism, gender equality, emphasis on serving people, mutual aid (Table 1). Table 1. Indexing USA and Turkey depending on cultural values by Hofstede. Country IDV Ranking by IDV* PDI Ranking by PDI UAI Ranking by UAI MAS Ranking by MAS USA 91 1 40 38 46 43 62 15 Turkey 37 28 66 18/19 85 16/17 45 32/33 * Classification among 53 countries of the world, by 2000. (Cateora, 2000) In addition to the parameters identified by Hofstede, the predominant and characteristic of the culture type of communication is of great importance in the typology of business cultures. On this parameter, all nations can be ranked by the degree of cultural contextuality. Recent studies have revealed a high correlation between high/low-contextuality and the Hofstedes indices of individualism/collectivism, and hierarchical level of distancing (Cateora, 2000). Thus, low-context American culture shares relatively low hierarchical differences and high level of individualism. On the contrary, high-context Muslim culture is typically characterized by a significant difference between the hierarchical levels and low levels of individualism. Therefore, the majority of modern managers, employees of international companies, are more effective in countries with the low-context language, since they are relying on the reports, contracts and other acts documented in writing. But even in low-context cultures, communication is largely dependent on cultural differences (Cateora, 2000; Gupta, 2009). High-context cultures require a considerable period of time before starting the business part of the relationship, because future partners must get to know each other for joint business. For example, if one cannot find time and desire to drink coffee and talk about abstract topics, one cannot advance to the business part of the conversation (Cateora, 2000; Gupta, 2009). Another indicator is the source of power and level of authority, which is a direct consequence of the level of the hierarchical distance, as it combines the effect of the power structure in business with the status and position of manager in the community, depending on the size of the company, publicity, type of property, and cultural values. In Turkey, the decisions are mainly made exclusively by the head of the company, who prefers to deal only with senior executives of other companies. Business here is not between companies or divisions, but between individuals. The latter also means that in case of leadership changes from one side or another, the achieved agreements may lose their power, if trust relationships arent re-established between new top executives of companies. Besides, the decentralized system, common for the U.S., enables managers at various levels to make decisions relevant to their functions, which is not common for Turkey (Ararat, 2008; Gupta, 2009). Thus, the obvious conclusion is that it is necessary for the authoritarian cultures as well as companies with a decentralized power structure to correctly determine the decision-makers, while working with companies in which decisions are taken by consensus, it is important to convince each member of the committee or group. Peculiarities of conducting business in Turkey Business in Turkey is quite difficult to arrange. But the results of registration of the business in Turkey and certain investments can be easily recouped. Peculiarities of doing business in Turkey determine such things as sale and purchase, opening bank accounts, tax system, offshore, ready business, small business and profitability of big business. In general, 2011 will be very important for Turkey. In June, the general election will be held. The current government has been successful in many areas of the economy; although some serious problems still remain. Therefore, opposition political parties should form new political-economic strategies with respect to the above areas. Turkey has to achieve significant economic growth, reduce unemployment, ensure social justice, and resolve tax issues. If it is done succeeds, it will be able to join the BRIIC (Kalafatoglu, 2010; OECD Economic Surveys: Turkey, 2010). The Government of Turkey since 2001 has been implementing a comprehensive program designed to accelerate all the procedures related to investments and attract more direct foreign capital into the country. The national body, the Coordinating Council for the Improvement of the Investment Environment (YOIKK) provides methodological support in this issue. In addition, in 2004 the Investment Advisory Council for Turkey (IAC) was established, whose recommendations serve as a guide for YOIKK, and activities undertaken within the Councils recommendations are published in annual reports of the Treasury of Turkey on the activities of IAC (Keyman, 2005). The government continues to implement legislative reforms, some of which are aimed at attracting foreign investment to Turkey. The draft of National Legislative Network, a project of automation and integration completed the process of developing the technical infrastructure in 2008, designed to accelerate the execution of business cases by facilitating the transfer of documents and transcripts of court proceedings and give the opportunity to file an application online. In addition, the government simplified the access of foreign investors to justice, including legal advice and Alternative Dispute Resolution, supported by the U.S., EU and World Bank (Turkey: Business environment at a glance, 2011; Kalafatoglu, 2010). Turkey made the tax system more convenient for investors as well. In 2006 the basic rate of income tax was reduced from 30 to 20%. The government also cancelled the income tax for foreign investors who own bonds, notes and shares, preserving it for bank deposits and repurchase transactions. In 2007 tax administration established a division designed to manage taxes collection from large corporations (Keyman, 2005). However, the Government of Turkey has not yet managed to implement further tax reforms, including reducing the tax on wages, which is one of the highest among OECD members. The Turkish Government also increased the VAT on leasing transactions from 1 to 18% in 2007. Special consumption tax on alcoholic beverages in 2008 reached 275.6% with the minimum requirements for special tax based on market prices of products (Ulusoy, 2008). Turkish laws affecting the investment climate continues to develop. It guarantees freedom of transfer of profits, fees and royalties and repatriation of capital. This guarantee is reflected in the bilateral investment treaties between Turkey and the United States in 1986, and in some similar agreements, which regulate the unlimited and proper handling of all funds related to investment in a freely convertible currency in the self-regulating market (Treaties and Agreements, Turkey-United States, 1986). Turkey is a member of the International Centre for Settlement of Investment Disputes (ICSID). Turkey also ratified the Convention Establishing the Multilateral Investment Guarantee Agency (MIGA) in 1987. Turkish law provides the confirmation of international arbitration execution of investment disputes between foreign investors and the state. Turkeys is also a member of the WTO Agreement on Trade Related Investment Measures (TRIMS) (Keyman, 2005; Ulusoy, 2008). Turkey investment stimuli system was significantly improved in 2006 to support manufacturing industry, energy sector, and export. General regime of investment incentives suggests tax benefits and, in some cases, the possibility of lending. Turkish Treasury also regulates some issues regarding interest rates on investment loans for small and medium enterprises, RD projects, environmental protection, as well as projects in 50 provinces, where the annual income per capita is below 1500 U.S. dollars. For such provinces, the law provides income tax incentives, social insurance benefits, free land and reduced electricity cost up to 20-50% (Ulusoy, 2009; OECD Economic Surveys: Turkey, 2010). In RD sphere, Scientific and Technological Research Council of Turkey (TUBITAK) and Technology Development Foundation of Turkey (TTGV) deal with reimbursements for RD and capital borrowing. Projects that get such benefits include development concepts, technology research, technical feasibility evaluation, concept-to-design laboratory researches, samples study, test products production, experimental facilities construction, product testing, patent research and design problems solutions. In addition to these incentives, the Government of Turkey provides support for technological development zones, which involves the creation of infrastructure and production facilities, exemption from taxes, VAT, income taxes and revenues, and from customs duties for special IT-sector. Moreover, export stimulating program is focused on RD, market research, and participation in international exhibitions and fairs. In Turkey, no technical requirements for the beginning, implementation and expansion of investment projects are provided. There are also no restrictions to the acquisition by investors of goods from national sources and exporting specific percentage of products. Investors access to foreign currency does not affect exports. There are also no restrictions for domestic companies to own shares of foreign investors for the fact that the proportion of foreign shares will be gradually reduced or investor will transfer its technology on certain terms. There are also no conditions established by the state in terms of the permission to invest, including the location in specialized geographic areas, specific percentage of national resources for the production of goods and services, national shares packages, import substitution, export requirements, employment of the population the investor technically located in, technology transfer and financing from national sources (Ulusoy, 2008; Ulusoy, 200 9; OECD Economic Surveys: Turkey, 2010). The Government of the Republic of Turkey does not force investors to disclose proprietary information or any other kind of information different from the publicly available one during the process of obtaining permission from the supervisory authority. Companies with foreign capital are to send a report on their activities, submitted to the General Assembly of shareholders, the auditors report, and balance sheet in the Foreign Investment Department of the Treasury annually in May. Except for issues relating to openness to foreign investment and transparency of the system of regulation, Turkey provides all the rights, benefits, deductions and privileges available to national capital and companies, as well as foreign capital and companies on the basis of most favored nation regime (for selected countries). For example, American and other foreign firms can participate in publicly funded programs and programs of subsidizing research and development on the basis of national treatment. The Government of the Republic of Turkey has adopted policies and laws that, for the most part, should promote free competition and transparency in business. However, foreign companies in some sectors complain that the regulations are not transparent and understandable from time to time. One should keep in mind that Turkey is an observer, but not a member of World Trade Organisations Commission on Government Procurement. However, Turkey is an actively developing country, which tries to keep pace on all the contemporary European and American innovations. One of the most perspective areas in Turkey is internet and mobile commerce. For instance, recent researches show that mobile marketing has acquired great popularity with the development of technology SMS since 2000 in Europe and different parts of Asia. Over the past few years SMS-messages have become a major advertising channel in Turkey, and many experts even tend to view Turkey as an innovator in mobile marketing (Demirbag, 2008). The vivid example of this success is the experience of the Turkish branch of Pepsi, which in the last 3 years has been one of the most active players using mobile marketing tools. To date, according to the data of Pepsi Turkey, the level of participation in promotional campaigns conducted by the department is the highest in the category. The company uses mobile technologies, because it considers them more effective than TV tool to provide an opportunity for interactive communication with Turkish consumers. One of the campaigns introduced by Pepsi offered consumers wallpapers and ringtones, including the famous song Da Da Da. Over the course of a promotional campaign, users downloaded more than 200,000 ringtones (Tsalikis, 2009). Turkish companies (like Finansbank, BP, FritoLay) proved that simplicity and possibility of immediate gratification are of great importance for the Turkish consumer, and the mobile channel can provide this effect (Demirbag, 2008). In general, the trust of Turkish consumers continues to rise since February 2010, reaching 85.8. This is the highest level over the past 14 months (OECD Economic Surveys: Turkey, 2010). According to the report published by the Institute of Statistics of Turkey in 2010 jointly with the Central Bank of Turkey, the index of consumer confidence amounting to 85.8 points is the highest mark since February of 2009 when it amounted to 87.60% (Tsalikis, 2009). The index started to rise since November 2009, after reaching a record low value of 78.38 points. If the index exceeds 100, it means that consumers are optimistic, and if it equals to 100, it means that consumers are neither optimistic, nor pessimistic, but if the index is below 100, it indicates pessimistic consumers (Aydin, 2006). The report determines the growth of the index of consumer confidence through the increase of the purchasing power of consumers in the current and future period, the general state of the economy and employme nt opportunities in the coming quarter. Conclusion The research has shown that Turkey is characterized by the specific business culture, experiencing the influence of European Union, USA, and its Asian partners. Belonging rather to eastern patterns of business culture, Turkey differs much form the United States in the major cultural indicators, such as indices of power distance, individualism, uncertainty avoidance, and type of business behavior (masculinity vs. femininity). However, in recent years, Turkey demonstrates high indicators of economy growth, openness to reforms, laws adjustments and democratic investment policy, which makes Turkey a favorable business partner. In addition, Turkish policy and legislation on labor, health and safety do not impede investment, although legal restrictions on firing workers may create obstacles to labor-intensive activities in the formal economy. The specific tax policy sometimes hinders investment decisions, e.g. high taxation of beverages, similar to Coca-Cola, hinders investment in the sector. However, serious tax incentives for free trade zones provide incentives to invest in these zones. Similarly, incentives for investment in certain low-income provinces are designed to increase investments in these areas. Nowadays, international credit rating agencies insist that the investment level of the Turkish economy is still not high, but markets do not express much concern. Credit default swaps insuring Turkish securities against default for 5 years, are estimated at 1.84%. And while the Eurozone is struggling with budget deficits, Turkey states huge budget surplus due to the growth of tax revenues. Turkey is considered to be a country of investment grade in the market of credit default swaps after its dollar-denominated bonds started to exceed the bonds of developing countries in Europe largely due to accelerated economic growth. According to preliminary estimates of the Government, the economy of Turkey grew in first quarter by 12%, which allowed the Prime Minister of Turkey to claim that Turkeys credit rating wont be reduced in the coming 6-10 months. Generally, the country retains the trend towards improvement of economic performance, development and innovation, which opens new perspectives for foreign investment, collaboration and partnership.

Socio and Economic Factors in Global Business Essay -- GCSE Business M

Socio and Economic Factors in Global Business When a company decides to take their business international, there are many different sociological and economic factors that they need to take into account. There are differences in management styles, international laws and treaties that regulate international business, as well as cultural customs that come into play. Each of these are significant and needs to be taken into account in order to minimize potential problems. Many times, lack of knowledge can create serious problems. Although there are a myriad of socio- and economic factors, this paper will focus on three key ones: 1) political barriers; 2) labor practices; and 3) cultural barriers. Additionally, real world examples will be offered on how some businesses have successfully overcome these barriers. Political Barriers For purposes of this discussion, political barriers refer to the geo-political situation of a country, as well legal barriers such as tariffs, taxes, etc. Countries set up barriers to foreign entities conducting business within their borders (especially imports and exports) for several reasons. Duties and taxes can create some government revenue. If there is a high tariff then there will be less exporting, therefore more of that product in the country, thus making the price of that product in the country lower since there will be a greater supply. So trade barriers can be helpful to a country. On the contrary, trade barriers can have a negative effect on a country as well. Consumers will have to pay a higher price on imports, and for similar products produced in the country the price will rise due to consumers buying the imported products. In order to regulate the barriers on international trade, there have been organizations formed. GATT (General Agreement on Tariffs and Trade), W TO (World Trade Organization) and NAFTA (North American Free Trade Agreement) are just a few examples (Czinkota, 1999). Other considerations in overcoming political barriers are the governments themselves. Conducting business in Cuba is virtually impossible for American companies probably until the fall of the Castro regime. Domestic and international pressure on human rights, governments considered to be corrupt or "illegal" may also hamper an organization’s ability to do business in certain regions of the globe. Although these factors... ...zed crime, etc (Fortune Small Business, 2000). Conclusion This discussion has highlighted but a few socio- and economic factors that must be considered when deciding to conduct business in a foreign country. As one can demise, the risks are there, but the potential for profit is very alluring. With prior proper planning, the risks can be limited. However, it will serve businesses well to incorporate economic factors into their overall global business strategies. References Czinkota, M., Ronkeinen, I., Moffett, M. (1999) International Business. Fort Worth: The Dryden Press DSN Retailing Today (2001, June 5). Open trade in billion-man market creates empire of opportunity. Economist (1997, June 21). 99% perspiration. Vol. 43, Issue 8022. Fortune Small Business (2000, April). East meets Mex. Hofstede, G. (1984). Culture’s Consequences. Beverly Hills, Ca: Sage Publications. Orange County Business Journal (2001, April 23). OC companies do business in China over tea, gestures. Winter, D. (May 2000). Facing globalization. Ward’s Auto World. Vol. 36, Issue 5. (www.doc.gov) (www.opic.gov) (www.usatrade.gov)

Romeo and Juliet : the Deaths of Mercutio and Tybalt

Romeo and Juliet: Act 3, Scene 2 The deaths of Mercutio and Tybalt| In the greatest play of all time â€Å"The Tragedy of Romeo and Juliet† by William Shakespeare, tells the story of two star-crossed lovers who take their own lives. In Act 3, scene 1 while Mercutio and Benvolio are joking around they are interrupted by some Capulets including Tybalt, who is looking for Romeo. When Romeo arrives he tries to make peace with Tybalt, but Mercutio feeling his friend has been insulted challenges Tybalt to fight. Romeo tries to stop the fight between the two men and Mercutio is wounded.As he dies, Mercutio curses both houses. Romeo furious by his friends death turns and attacks Tybalt killing him. When the prince arrives, Benvolio tells everything that had happen. As a punishment for the death of his dear cousin the prince banishes Romeo, saying that he will be killed within the hour if he is found in Verona. The people who are the most to blame for the deaths of Tybalt and Mercutio are the Capulets and the Montagues. Both houses, The Montagues and The Capulets are to blame for the deaths.For example in the prologue of act 1 scene ,line 3 it states â€Å"From Ancient grudge break to new mutiny† A families old hatred will still affect lives today. This quote proves that both houses don’t like each other and over the years hate has been building up affecting others lives. Another example would be found in Act 3, Scene 1, and Line 100, â€Å"A plague on both of your houses! They have made worms meat of me. I have it, and soundly too. Your houses! † this quote says that Mercutio blames both houses for his death saying you have made worms meat out of me.This quote shows that everyone blames both families for anything that has happen to them. In conclusion both the Montagues and the Capulets are to blame. Both houses are responsible for the deaths of Tybalt and Mercutio. With all of their constant fighting and hate building up on top of hate they are bound to be doomed. If the Capulets and the Montagues don’t make up now later on the will have to pay a huge price. They may have thought the Prince’s declaration was worse they would just have to keep on acting like a bunch of children and their actions would soon come back to haunt them.

Creation and Management of a New Venture

Creation and Management of a New Venture Introduction For many years, entrepreneurs have played an important role in the global economy. They develop new business enterprises which create job opportunities, increase economic activities and steer innovation forward. Unfortunately, entrepreneurs remain an often ignored segment of the business context despite their positive influence on economic prosperity. In spite of decades of research into the segment, researchers have not come into consensus about the universal definition of entrepreneur.Advertising We will write a custom essay sample on Creation and Management of a New Venture specifically for you for only $16.05 $11/page Learn More Moreover, there is no common agreement about the exact characteristics and behaviors that describe entrepreneurs. Even though they operate across different sectors and environments, they still share important traits and behaviors. This paper investigates the wider context of the entrepreneur as the founder of busines s ventures. There is a discussion of the founder including the traits and motivation to entrepreneurship. The factors that determine the success of a start-up business are investigated. The research is not complete without analyzing the transition from start-up to growing business and the two different situations. The entrepreneur An entrepreneur can be defined as an innovator who establishes a new business enterprise offering new or existing goods and services in order to gain profit. A different definition is given by Mohanty (2005) as an individual who brings resources, materials, labor and other assets into an arrangement that increases their value and also introduces innovations, changes and new order (pp.1-2). Other definitions consider an entrepreneur as the person typically driven by some forces, the desires to achieve something, experiment, accomplish or escape the authority of others. On a business perspective, he may either appear as an aggressive competitor or an ally wh o creates wealth for others and finds better ways of employing resource and generates jobs others are delighted to get (Wong et al., 2005). In almost all definitions, there is a general agreement that the behavior of an entrepreneur includes; initiative taking, resource planning and risk taking (Hisrich, Peters Shepherd, 2005). Entrepreneurs are made rather than born, though a large number of the most successful founders established their first business venture at a young age (Ernst Young, 2011). Despite this age, most of them did not launch directly into their business from higher education. Many surveys describe them as transitioned or had some experience elsewhere before establishing their ventures. Other factors such as the background also influence entrepreneurs. Pitje, the founder of New Gx Capital, a telecommunication company based in Johannesburg acknowledges that his entrepreneurship motive was highly influenced by being brought up in an entrepreneurial family (Ernst You ng. 2011, p.8). Indeed, there are no entrepreneurship genes, but are characteristics and experience that increase the chances of an individual choosing this path and eventually succeeding in the long run.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More A true entrepreneur must have confidence in order to gain a sense of self-esteem and faith in his ability to meet challenges by acting and then gaining self-belief by seeing results. He should feel a sense of ownership and take responsibility for getting things done rather than viewing problems as someone else’s. He works to sharpen up communication skills by taking advantage of the available resources. An entrepreneur should be passionate about learning and seeks out information. He should be a good team player and system-oriented in order to connect the human resources to organization goals. He should be a leader by example and appreciate, support, motivate and reward others. He should not be afraid of risk but be ready to take chances. Getting into business Business ideas and opportunities are relevant to entrepreneurs as innovators and risk takers. Business ideas relate to the facts that influence the success of a venture while business opportunity is about understanding the means to exploit the ideas. Sarasvathy (2001) is of the opinion that causal reasoning is the very source of business ideas. On the other hand, effectual reasoning leads to the realization of business opportunities. The fact that effectual reasoning demands imagination, risk-taking, spontaneity and salesmanship enables entrepreneurs to imagine and execute positive effects that can be created with true self-esteem. The opportunity to generate wealth and become own bosses is the key attracting factor to entrepreneurship. Evidently, this has intensified the researches on SME growth and more significantly the formal and informal attr ibutes of entrepreneurs who have driven their ventures successfully to growth-stage (Rose, Kumar Yen, 2006). Literature suggests that the important areas for start-up entrepreneurs are leadership, management skills, entrepreneurial orientation, human capital, competencies, personality attributes and circle of network (Rose, Kumar Yen, 2006). The qualities related to the high desire to achieve contribute greatly to the success of new business. Indeed, the entrepreneurs score higher than managers in desire to achieve, tolerance of ambiguity and risk-taking predisposition. The desire to achieve, risk-taking predisposition and internal locus of control are key factors contributing to the success of start-up businesses.Advertising We will write a custom essay sample on Creation and Management of a New Venture specifically for you for only $16.05 $11/page Learn More It is also suggested that risk-taking is a major attribute in differentiating between managers a nd entrepreneurs. It is a fact that entrepreneurs are risk takers especially in fields where they have competencies or control in attaining profits. They are required to embark on the unknown and vague situations. Therefore, they are supposed to demonstrate more tolerance of uncertainty than others. In regard to innovativeness, it is the focus of entrepreneurship and an important characteristic of an entrepreneur. In essence, entrepreneurs should be more innovative than other business stakeholders. Another important aspect is to select the most appropriate market entry strategy. According to Allen (2011), entrepreneurs are required to assess the market environment critically before making the final entry decisions. There are two strategies that founders can use to enter the new market. The first entry strategy is the strike force approach which is non-aggressive and focused. It is an entry strategy to a narrowly defined market that uses very few resources. It is most appropriate for hostile and sparse markets where a venture can enter quietly and establish its business, arranging the groundwork for expansion. The other entry strategy is guerrilla tactics which is characterized by the employment of few resources to strike on the most effective areas of the market. This strategy is appropriate in bountiful but hostile markets. The wider market supports a broad entry, though the presence of competitors demands a less-aggressive approach. Success factors for new ventures The success of a new business venture is determined by a number of factors including personality traits, personal initiative, human capital and competency (Verheul, 2010). Personality traits of an entrepreneur impact on business performance directly and the business process indirectly. However, the factor is more relevant to the success of start-up business if the entrepreneur takes action and initiative. A study conducted by Frese and Fay (2001) revealed that employee with higher personal initiat ives portrayed better performance in the workplace. Likewise, entrepreneurs with high personal initiatives are capable of staying ahead of competition and are role models to their employees. Personal initiative is action-oriented and goal-directed and thus closely associated with an active strategy. When used to determine success of a new venture or to lead the firm to growth-stage, initiative plays a significant role in overcoming barriers.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Human capital is another important factor which is considered passively or where people react to the environment (Rose, Kumar Yen, 2006). It entails knowledge and capacity including education and experience. Human capital contributes greatly to new ventures and their growth. Elements of human capital of an entrepreneur such as family, environment, work history, education, role models, regulatory bodies, age and support networks impact on the success of the business venture. Likewise, competency is an important factor in ensuring the success of start-ups. An entrepreneur faces greater challenges when the business moves to growth-stage as it experiences what is referred to as strategic reflection point (Allen, 2011). Those with right competencies are in a better position to overcome the emerging challenges. Survival and growth of small business A calculated reflection point corresponds to a time in the lifecycle of the new venture when the basic operations have extremely changed. Bus inesses progress through steady, predictable stages of development called lifecycle phases. In the start-up phase, the venture is concerned with inventions of products or services, setting up market segment, attracting new customers and production as well as marketing of the product. As the firm starts to grow fast, it will require a formal organization and coordination in response to the increased functional activities (Allen, 2011, p.364). During growth phase, the entrepreneur is compelled to emphasize on long-term strength while keeping up the innovative spirit that led to success in the first phase. As the founder of the business, the entrepreneur has an important role to play in long-term success of the business. He supports the vision of the firm and inspires employees to champion the vision. Nevertheless, the firm will continue to grow and at some point the entrepreneur must emphasize and focus on various areas of talents and competencies in order to steer the business toward s long-term success. In the struggle to create momentum and grow their ventures, entrepreneurs encounter three key challenges: people, funding and know-how (Ernst Young, 2011). Finance is the biggest problem faced by entrepreneurs as noted by many researchers on SME (Rose, Kumar Yen, 2006). It is very hard for these businesses to get funds since the banks are not ready to lend small amounts of money. The challenge of getting the right people to implement the entrepreneur’s strategic vision is a permanent one. All business entities struggle with attracting and retaining employees that help the business to grow. Once in the business, the entrepreneur faces a big problem of finding people with the necessary skills to join the business. In addition to the right people, entrepreneurs need the right knowledge in order to take their business forward. They must have knowledge regarding different areas such as marketing, sales, finance, operations, logistics and leadership. Some arg uments have been put forward that the entrepreneur should be replaced by professional mangers due to their poor competencies as the firm begins to move from start-up phase to growth phase (Hisrich, Peters Shepherd, 2005). However, several researches have proved this claim to be invalid (Wong et al, 2005). There is no evidence that managers perform better in growing firms, but entrepreneurs can learn to manage effectively. With a social network support, founders have the ability to organize and synchronize networks between organizations and individuals. Informal network support such as from relatives, friends, acquaintances and previous workmates can benefit the firm. As the venture grows, entrepreneurs should be attuned to promoting the business and its products, understand the needs of the market and customer feedbacks. Understanding the trends and future expectations as precisely as possible will allow long-term continuation of the venture. Additionally, entrepreneurs naturally f ocus on the quality of goods and services, competitive planning and strategies as well as the improvement of products. They must also be included in strategic planning regarding to competition, because it guarantees the future and survival of the business. As they move away from routine accounting t roles, the entrepreneurs need to have a bigger picture of the firm’s finance. It will be important to assign the routine accounting tasks to relevant personnel and pay attention to the higher levels of finance management. Conclusion Entrepreneurship can be summarized as a process of utilizing business ideas to identify opportunities and using creativity to establish a business venture that fully exploits the opportunities. Such a conception requires an individual with specific traits and competence. These attributes when used effectively lead to the success of a new venture and eventual transition to a growing business firm. An ultimate vision is the driver of all initiatives put in place while an entrepreneur champions the vision to all organization members. References Allen, K 2011, Launching new ventures: An entrepreneurial. Cengage Learning, Florence. Ernst Young 2011, â€Å"Nature or nurture? Decoding the DNA of the entrepreneur†. Web. Frese, M Fay, D 2001, â€Å"Personal Initiative: An active performance concept for work in the 21st century†, Research in Organizational Behavior, vol.23 no.2, pp.133-187. Hisrich, R, Peters, M Shepherd, D 2005, Entrepreneurship. McGraw-Hill Irwin, New York. Mohanty, S 2005, Fundamentals of Entrepreneurship. PHI Learning Pvt. Ltd, New Delhi. Rose, R, Kumar, N Yen, L 2006, â€Å"Dynamics of entrepreneurs’ success factors in influencing venture growth†, Journal of Asia Entrepreneurship and Sustainability, vol.2 no.2, pp.1-23. Sarasvathy, S 2001, â€Å"What makes entrepreneurs entrepreneurial†, Harvard Business Review, pp.1-8. Verheul, I, Thurik, R, Hessels, J van der Zwan, P 2010, â⠂¬Å"Factors influencing the entrepreneurial engagement of opportunity and necessity entrepreneurs†, EIM Research Reports, H201011, p. 1-24. Wong, P, Ho, Y Autio, E 2005, â€Å"Entrepreneurship, innovation and economic growth: Evidence from GEM data†, Small Business Economics, vol.24 no.5, pp.335-350.

Free Essays on Gender In The Work Of Perrault

Gender in the Work of Perrault The fairy tales of Charles Perrault exhibit an inherent set of gender specific social values instilled in his major characters. These values are what set the guidelines for the creation of his morality tale; they define the attributes that his characters are designed to exemplify. Perrault’s leading female characters, specifically, seem to be held under the rigid societal construct that is â€Å"model female behavior† as defined by civilità ©. Civilità © is the institution that defined 17th century France. Civilità © is the code of behavior developed by Louis XIV and the French aristocracy as an attempt to give the people of France a uniform set of social norms that would be consistent with the standards of Louis XIV’s court. This code consisted of social guidelines to which the model citizen would adhere. Civilità © as it pertained to women stressed beauty, grace, politeness, obedience, docility, and purity (virginity). A woman that adheres to the code of civilità © is perfectly groomed, an artful conversationalist, and completely reserved (in control of any urges). 17th century France saw the women of the aristocracy abide strongly by the principles set forth by civilità ©. Perrault was influential to these women as he was a strong purveyor of the code of civilità © through his fairy tales. Every day women of the aristocracy would convene in literary salons to recite fairy tales, and in doing so reinforce the principles of civilità © that these tales conveyed. These tales did not function only to entertain, they were full of underlying social values (civilità ©) and implied political commentary. The setting alone of these meetings was overtly laced with civilità ©; women would adorn themselves in expensive garments, prime themselves to physical perfection (or as close to perfection as possible), and use their superior conversation skills to convey their fairy tales as artfully as possible. No... Free Essays on Gender In The Work Of Perrault Free Essays on Gender In The Work Of Perrault Gender in the Work of Perrault The fairy tales of Charles Perrault exhibit an inherent set of gender specific social values instilled in his major characters. These values are what set the guidelines for the creation of his morality tale; they define the attributes that his characters are designed to exemplify. Perrault’s leading female characters, specifically, seem to be held under the rigid societal construct that is â€Å"model female behavior† as defined by civilità ©. Civilità © is the institution that defined 17th century France. Civilità © is the code of behavior developed by Louis XIV and the French aristocracy as an attempt to give the people of France a uniform set of social norms that would be consistent with the standards of Louis XIV’s court. This code consisted of social guidelines to which the model citizen would adhere. Civilità © as it pertained to women stressed beauty, grace, politeness, obedience, docility, and purity (virginity). A woman that adheres to the code of civilità © is perfectly groomed, an artful conversationalist, and completely reserved (in control of any urges). 17th century France saw the women of the aristocracy abide strongly by the principles set forth by civilità ©. Perrault was influential to these women as he was a strong purveyor of the code of civilità © through his fairy tales. Every day women of the aristocracy would convene in literary salons to recite fairy tales, and in doing so reinforce the principles of civilità © that these tales conveyed. These tales did not function only to entertain, they were full of underlying social values (civilità ©) and implied political commentary. The setting alone of these meetings was overtly laced with civilità ©; women would adorn themselves in expensive garments, prime themselves to physical perfection (or as close to perfection as possible), and use their superior conversation skills to convey their fairy tales as artfully as possible. No...

Under Manhattan Sky (Lisa) Essay Example | Topics and Well Written Essays - 250 words

Under Manhattan Sky (Lisa) - Essay Example To begin with, she is frank in that she is able to state bluntly that she is a prostitute to whoever wishes to know, including Tim. Consequently, Tim will be able to understand her feelings and experiences, and this will drive the plot into revealing that Tim and she are brother and sister. This corresponds with my character because I am also frank. She also faces rejection; thus, moving from one foster home to another. Finally, finds her brother, who is very rich and she settles down to normal life. For the character of Lisa to have a powerful impact on the audience, she will have a hoarse sexy voice to depict the fact that she is a prostitute. She would also be dressed skimpily, have high heels and move with slow deliberate steps that accentuate the swinging of her hips. She should overdo her make-up, especially lipstick and eye-shadow. This would be in keeping with her role as a whore in the play. Her physical qualities will also reflect her troubled childhood and the harsh life she has lived before becoming a prostitute. However, despite the hard exterior, Lisa has a soft underbelly. Too much bitterness has accumulated in her heart, owing to the difficult childhood she has undergone. Consequently, she can easily break down emotionally. Lisa character would not be complete without some improvisations. In improvisation, things deviate from the normal (Goldstein, 2009). In this film, Lisa has to claim that she knows Tim from somewhere though it is apparent that they have never met. This helps create the tension between she and Tim and leads to the discovery that they are brother and

Training Effectiveness Essay Example | Topics and Well Written Essays - 1500 words

Training Effectiveness - Essay Example Employees are supposed to be equipped with some form of expertise such as knowledge, skill and attitudes regardless of the position he/she holds in an organisation. At the same time, it is not necessary that one should have all the expertise that the organisation demands from time to time. He/she may have to equip himself/herself with the current needs of the organisation that strives to maintain its survival amongst its rivals. This calls for imparting knowledge and training to all employees irrespective of the status/position. Training and development has become a necessity in the present day organisation as they have to meet many challenges posed by their environment in general and competitors in particular. Induction training is meant for employees who join the firm for the first time. In fact, the firm is known for its excellence in training programs and its induction training programs is one of the trainings recommended by Retail Industry Awards, 2004 (our people). At this juncture, it is desirable to have a deep knowledge about the training programs conducted by the firm and its effectiveness. The study mainly seeks to investigate how successful are the training programs of the firm to be reflected in the employee performance and organisational development. Employee training and development is one of the fascinating areas for researchers who are interested in exploring new insights from human resource development and workers’ empowerment. Modern organizations have realized that employee performance is a prerequisite for organizational success and as a result training and development programs are vital for organizational survival and success. ... ayeed Omer Bin reveals that business performance depend on high performance, which in turn is depended upon the employee training and development (Sayeed 1998). The present literature review covers only the recent studies and papers that have been published through books and academic journals in and outside the country. In a case based study undertaken by Amitabh Kodwani Deo and Singh Manjari entitled 'Towards Effective Training and Development in Indian Public Sector Enterprises', the authors argue that employee training is an effective tool in improving the individual and organizational performance. The authors further remind that training can result in employee and organizational performance only when the active participation from employees is made and the organization offers a congenial and learning environment Kodwani and Singh (2004). In another case study of S. Sudha to explore the effectiveness of training to the employees and the organization, it is explained that the imparting of training is performance oriented in the sense that training requirement of an employee is determined on the basis of his/her performance at the work (Sudha 2006). The study also finds that training is essential as a learning environment alone can influence the behaviour of employees. Alan Barrett and O'Connell Philip J undertook a study in 2001 to examine the productive effects of training through a survey research. The study includes all types of training such as general training and special training. The authors tried to observe the results of the study after a statistical analysis by which the positive impact of training was tested. It was found that there were no positive impacts on productivity out of specific training (Barrett and O'Connell 2001). C. Ostroff, in his study