Lactase Enzyme Essay Example for Free

Lactase Enzyme EssayThis lab will examine the specificity of an enzyme (lactase) to a specific substrate (lactose). Students will observe the actions of the enzyme and how shape is important to enzyme reactions. Background information Lactose, the sugar found in milk, is a disaccharide composed of glucose and brain sugar (both six-sided sugars). Sucrose, ordinary table sugar, is in any case a disaccharide composed of fructose and glucose. Glucose is a six-sided sugar and fructose is a five-sided sugar. Lactase is an enzyme that breaks lactose down into galactose and glucose. Lactase stinker be purchased in pill form by people who are lactose intolerant. These people lack the enzyme, lactase, and cannot break down the sugar lactose into its component parts. Although lactose is uniform to sucrose, lactase will break down only lactose because of the shape of the sugar. In this lab, you will see lactase break lactose down into galactose and glucose. You will also observe what h appens if the shape of lactase is changed due to heating. Materials/ resources * Lactase tablets these can be bought in any drug store or food product store.Fifteen cubic centimeters of milk any milk will work. Water employ for dissolving the lactase tablet, dissolving the sucrose and boiling the lactase. * Sucrose five grams per group. * virtuoso hundred milliliter graduated cylinder/ten milliliter graduated cylinder measuring water and enzyme amounts. * Three four hundred milliliter beakers used for dissolving the lactase tablet, dissolving the sucrose and boiling the lactase. * Five sample vacuum organ pipes these tubes hold the different root mixtures. * Test tube rack hold the sample tubes. * Marking pencil grad the test tubes so that confusion does not occur. * Clock * Hot plate with a Pyrex test tube for denaturing the enzyme. Glucose test strips these strips can be found in any drugstore.Stirring rod helps to mix up the lactase tablet in the water. Lab procedures 1. Gather the materials. 2. Label the test tubes with the following labels 0 A. Test tube with read milk and enzyme solution. B. Test tube with skim milk and water. C. Test tube with skim milk and denature enzyme solution. D. Test tube with sucrose solution and enzyme solution. E. Test tube with sucrose solution and water. 3. In test tube A add two milliliters of skim milk and one milliliter of enzyme solution. 4. Time for two minutes and test for glucose with the glucose test tape.Record this data in table 1. If there was glucose present mark a + in the table. If glucose was absent, mark a - in the table. 5. In test tube B add two milliliters of skim milk and one milliliter of water. 6. Repeat feel 4. 7. In test tube C add two milliliters of skim milk and one milliliter of denatured enzyme solution. 8. Repeat step 4. 9. In test tube D add two milliliters of the sucrose solution and one milliliter of enzyme solution. 10. Repeat step 4. 11. In test tube E add two milliliters of the s ucrose solution and one milliliter of water. 12. Repeat steps 4. Results Glucose Presence in the Following SolutionsType of Solution substantiative or Negative Glucose Result Test tube A milk and enzyme solution Test tube B milk and water Test tube C milk and denatured enzyme solution Test Tube D sucrose solution and enzyme solution Test Tube E sucrose solution and water Conclusion and Questions 1. Diagram and describe the lactose and lactase reaction (may need to research this). 2. Why did the enzyme react to lactose but not to sucrose? 3. What happened when the enzyme was boiled? 4. Another way to affect the enzyme is by lowering the pH of the solution. However, lactase is supposed to be able to work in the stomach.Would lowering the pH of the enzyme solution affect the enzyme? Why or why not? 5. What type of reaction is this? Dehydration or hydrolysis? Content to be covered in closing paragraphs It should explain the general conclusions of the lab. May refer back to backg round information to help explain the conclusion of the lab. Should refer back to the GENERAL data in the results. Restate the purpose and state whether the hypothesis was correct or not and why. Clearly state and explains how at least THREE errors may have occurred in the lab. Also explains common pitfalls a person SHOULD avoid.

Hallstead Case Essay Example for Free

Hallstead Case Essay1.)The breakeven point in number of gross sales has move along with the breakeven point in sales dollars from 2003 to 2006. The margin of safety has decreased as well. Every year they create to increase the number of sales tickets so the previous year to meet their breakeven point. After 2004 when expansion of the store begun, Hallsteads fixed cost have grown to severally one year. The decrease from 2004 to 2006 is far slight substantial than from 2003 to 2004. This damage is cause by the stores expansion. It is renting a much larger space down the street from its previous location.This has incurred much lager expenses each year accordingly in than prior to 2004. 2.)Yes, the companys income would increase. The new breakeven point in sales dollars would be approximately $6.03 million. 3.)Eliminating sales commission would have a huge effect on the breakeven volume. If they follow through with Gretchens idea of eliminating sales commission their expense s would decrease a great deal each year. They would not have to make nearly as many sales to breakeven. Although this could have an adverse effect on the sales volume.Employees will not be nearly as aggressive in making sales because it will not affect their personal income. Employees could act disapprovingly towards this new measure, affecting the female genitalia line negatively in the long run. 4.)If Hallstead added an additional $200,000 to advertising each year they would have to increase the sales volume considerably, thats if they decide not to do away with sales commission.5.)Average sales would have to increase over $24 to break even if fixed costs remained the same. 6.)I would recommend that Hallstead Jewelers listen to the consultant that suggested price reduction to increase sales. I believe this would be a smart move because with the new store they have room for more sales then the previous location so upping sales numbers is an important step. If reducing sales doesn t help improve the bottom line, I would then suggest that they eliminate sales commission. Although this as been an important part of business, eliminating sales commission would greatly decrease their yearly expense. I think adding advertising aft(prenominal) their recent move is extremely important. Although it is a $200,000 expense, it could increase sales significantly. These are my suggestions for Hallstead Jewelers

Corporate governance Essay Example for Free

Corporate g everyplacenance EssayCorporate nerve is concerned with the structures and systems of control by which managers atomic number 18 held accountable to those who own a legitimate stake in an placement. It has become an increasingly important issue for organizations for tether main reasons. The separation of ownership and trouble control of organizations (which is now the norm except with very small businesses) means that most organizations operate within a hierarchy, or chain, of governance. This chain represents those groups that influence an organization through their involvement in either ownership or worry of an organization. Increased accountability to wider stakeholder involvements has also come to be increasingly advocated in bad-tempered the argument that corporations need to be more visibly accountable and/or responsive, non plainly to owners and managers in the governance chain but to wider social interest Corporate scandals since the late 1990s have increased public debate ab come out how polar parties in the governance chain should interact and influence each other. Most notable here is the relationship between sh arholders and the dining tables of businesses, but an equivalent issue in the public sector is the relationship between brass or public funding bodies and public sector organizations. As the key conclusion of Corporate governance drive the benefit of sh beholder of the fellowship all members of incorporate governance model responsible and accountable for driving this primary objective.1.1 Five Golden Rules of Corporate GovernanceAnd best corporate governance practice is not simply about a battle between distant, disloyal institutional shareholders and greedy directors but about the ethos of the organization and fulfilling its clearly agreed goals. 5 flamboyant rules of Corporate Governance of successful organization are1. Ethics a clearly ethical basis to the business2. Align seam Goals appropriate goals, arrived at through the creation of a suitable stakeholder termination making model 3. Strategic management an effective strategy process which incorporates stakeholder value 4. Organization an organization suitably structured to effect good corporate governance 5. radicaling reporting systems structured to provide transparency and accountability2 objects of studyObjective of this case study is to understand and critically examine flaws, misery of Corporate Governance on Satyam Computers strategic decisions. Also analyze what are the areas those can be influenced by proper Corporate Governance. This case also helps judgement Governments subprograms to tackle firms or intervene in firms functionality in the interest of internal and external stakeholders. Not only were there failures at the regulatory level, but also at the executive level. With no express computer code for corporate governance in India, the comp both(prenominal) failed to follow the industry standard best prac tices and as a result, collapsed.This study would be giveful in identifying the different kind of failures in a family owned business like Satyam and to policy makers in designing and implementing corporate governance frameworks for professionally managed as well as family managed businesses like Satyam. This case also reveals how wrong decisions can damage entire organization and dent the image of companionship. This case also focuses certain legal issues link up to roles and responsibilities of Chairman and other top management including critical role of freelance directors of organization. This incase Study focuses laws and gaps in the Indian context.3 Historical Evolution of the ships companySatyam was coordinated on June 24, 1987 as a private limited company providing software development and consulting run found out of Hyderabad, Andhra Pradesh. Ramalinga Raju and his brother Rama Raju were the promoters of the company. earlier commencement Satyam these duo were inv olved in other businesses like construction and textiles. This company was started with 20 employees 1991, this company went in for IPO where it was oversubscribed by 17 periods. similar year it could bag clients like John Deere co which is fortune 500 company. This is the first time it adopted offshoring model. 1993, Satyam formed joint ventures with clients like D B and also with GE. In 1996 Satyam started its on shore offices in US and Japan. And its first development center in New Jersey, 1998.By 1999 it had operations in 30 countries and was assessed SEI CMM Level 5, one of the very few companies to get this ac deferred paymentation by then. In 2000, Satyam grew by 10000 employees and got listed in NASDAQ ( National Association of Securities Dealers Automated Quotations) in 2001. 2004 Satyam was providing services in 45 countries with employee base of 15000. At that time Company was operating in mingled verticals with 18 development centers. Company crossed 1Billion reven ues by 2006. Satyams revenues grew to 2 billion by 2008 with a net income of 417mn. Gained 186 of fortune 500 customers. Sailing in the industry with 46000 employees by March 2008 with operations across 66 countries. By September 2008 it recorded revenue of 28.19Bn.3.1 Corporate Governance Practice at SatyamTo explain the level of commitment and ethics to society it was mentioned by some(prenominal) inside and outside members of Satyam that on the day of Ramalinga Raju fathers cremation he attended shareholders meeting. Companys ethics and level commitment were stressed in many annual reports. Corporate Governance was driven by its core values Associate Delight Investor Delight Customer Delight Pursuit of worthCompany stated that it believes that corporate governance practices provide an important framework to help the board of directors to fulfill its responsibilities Main duties of the board were to set strategic way to the company and leading the organization in the right dir ection there by ensuring long term interest of investor and other stakeholders of the company. Source Satyam Computer Services, Report on Corporate Governance 2006-07 For freelancer functioning, the board comprised of both executive and non-executive members. room also comprised several perpetrations like Investor Grievances committee Compensation Committee scrutinise CommitteeThe board was governed by code of conduct, which specified that all employees, directors needed to carry out their duties legally, honestly and ethically. It also specified all clauses that avoid any code of conflict etc.., Companys Whistle Blower policy was also in place.According to experts though sound policies were in place no(prenominal) of the directors were objecting Raju s decisions even though they are against the interest of investor. It continued till the time when Raju was planning to acquire Maytas where the biz of Target Company was not reorient to Satyam and also those companies are promot ed by Ramalinga Rajus family members. 3.2 component and Powers of Independent Directors (clause 49 of SEBI) SEBI had constituted a Committee on Corporate Governance under the chairmanship of N R Narayana Murthy to improve standards of corporate governance in India. SEBI introduced some major amendments based on the report on this committee on 26th August, 2003, in clause 49 of its listing agreement.Applicability of Clause 49All companies which were required to comply with the requirement of the erstwhile clause 49 i.e. all listed entities having a paid up share capital of Rs 3 crores and above or net worth of Rs 25 crores or more at any time in the history of the entity, are required to comply with the requirement of this clause. This clause does not apply to other listed entities, which are not companies, but body corporates, incorporated under other statutes. Clause 49 will apply to these institutions as long as it does not violate their respective statutes, guidelines or directi ves. Clause 49 of the SEBIs listing agreement relates to Independent Directors. Clause 49 Corporate Governance The company agrees to comply with the following(a) provisions I. mature of Directors (A) Composition of Board (i) The Board of directors of the company shall have an optimum combination of executive22 and non-executive23 directors with not little than fifty percent of the board of directors comprising of non-executive directors.(ii) Where the Chairman of the Board is a non-executive director, at least(prenominal) one-third of the Board should comprise of independent directors and in case he is an executive director, at least half of the Board should comprise of independent directors. (iii) For the purpose of the sub-clause (ii), the expression independent director shall mean a non-executive director of the company who a. Apart from receiving directors remuneration, does not have any square financial relationships or transactions with the company, its promoters, its directors, its senior management or its belongings company, its subsidiaries and associates which may affect independence of the directorb. Is not related to promoters or persons occupying management positions at the board level or at one level below the boardx c. Has not been an executive of the company in the immediately preceding three financial years d. Is not a partner or an executive or was not partner or an executive during the preceding three years, of any of the following 1. The statutory audit firm or the internal audit firm that is associated with the company, and 2. The legal firm(s) and consulting firm(s) that have a material association with the company.e. Is not a material supplier, service provider or customer or a lessor or lessee of the company, which may affect independence of the director and f. Is not a substantial shareholder of the company i.e. owning 2 percent or more of the block of voting shares. OTHER DEFINITIONS The Department of Company Affairs (DCA) h ad appointed a Committee headed by Mr. Naresh Chandra along with the distinct professionals from various fields. Apart from this, the Kumaramangalam Report also has suggestions about Independent Directors. Some definitions on Independent Directors. THE CADBURY REPORT (1992)Apart from their directors fees and shareholdings, they should be independent of management and free from any business or other relationship which could materially interfere with the exercise of their independent judgment. THE KUMARAMANGALAM REPORT (1998) Independent directors are those directors who apart from receiving directors remuneration do not have any other material pecuniary relationship or transactions with the company, its promoters, its management or its subsidiaries, which in the judgment of the board may affect their independence of judgment THE NARESH CHANDRA REPORT (2003)Apart from receiving directors remuneration, does not have any other material pecuniary relationships or transactions with the co mpany, its promoters and senior management. It is significant to mention hear that the Naresh Chandra Committee report has opined that the recommendations made by the Kumaramangalam Committee in relation to independent directors are not precise and cannot fulfill the requirement of the independency as compared to the International best-in-class definitions and other pragmatic factors.25 An independent director is characterized by the following principle features COMPANIES ACT, 1956 INDEPENDENT DIRECTORSUnder the Companies deed,1956 the powers and duties of directors has evolved under interpretation of various Sections such as 291, 297, 299, 397, 398, 408, 629A, to name a few which have recognised and upheld directors fiduciary duties to shareholders, to act with due care, skill and good faith. Sections 297 and 299, for example, are intended to eliminate possibility of conflict of interest. Unfortunately, the Act does not envisage a proper remedial regime, providing for rescission of underlying transactions, compensation for corporate and stakeholder losses, disgorgement of ill-gotten gains etc.Theoretically, some of these reliefs can be agitated for in the first place the Company Law Board but courts are hesitant to pass such drastic orders, in cases of such large, reputed companies ROLE OF INDEPENDENT DIRECTOR TOWARDS SHAREHOLDERS Corporate Governance principles all over and listing requirements assign tasks that have a potential for conflict of interest to independent directors, examples of these are integrity of financial and non-financial reporting, polish up of related party transactions, nominating address of board members and key executives remuneration. The shareholders, especially the minority shareholders, come out to independent directors providing transparency in respect of the disclosures in the working of the company as well as providing balance towards resolving conflict areas.In evaluating the boards or management decisions in respect of employees, creditors and other suppliers of major service providers, independent directors have a significant role in protecting the stakeholders interests. One of the mandatory requirements of audit committee is to look into the reasons for default in payments to deposit holders, debentures, non-payment of declared dividend and creditors. get on they are required to review the functioning of the Whistle Blower mechanism and related party transactions. These, essentially, safeguard the interests of the stakeholders 4 Major strategic decisions and its consequence declination 16th 2008, Chairman Ramalinga Raju in a surprise move announced intent to acquire Maytas Properties and Maytas construction companies for a whopping 1.6Bn. While it is evident that these two companies are promoted by Ramalinga Raju s family in the industry circles it was not clear why should a IT services company focus on infra and position business. As the decisions was opposed by investors and clear indicati on of market fluctuation made Ramalinga Raju to revert his decision in 12 hours. Share prices plunges by 55% on concerns about Satyams corporate governance.In a surprise move, the conception Bank announced on celestial latitude 23, 2008 that Satyam has been gin millred from business with World Bank for eight years for providing Bank staff with improper benefits and charged with data theft and bribing the staff. Share prices fell another 14% to the lowest in over 4 years. The lone independent director since 1991, US academician Mangalam Srinivasan, announced resignation followed by the resignation of three more independent directors on December 28 i.e. Vinod K Dham (famously known as father of the Pentium and an ex Intel employee), M Rammohan Rao (Dean of the renowned Indian School of Business) and Krishna Palepu (professor at Harvard Business School)6.At last, on January 7, 2009, B. Ramalinga Raju announced confession of over Rs. 7800 crore financial fraud and he resigned as chair man of Satyam. A week after Satyam founder B Ramalinga Raju s immoral confession, Satyams auditors Price Waterhouse finally admitted that its audit report was wrong as it was based on wrong financial statements provided by the Satyams managements On January 22, 2009, Satyams CFO Srinivas Vadlamani confessed to having inflated the number of employees by 10,000 Satyam share price have seen sharp decline within hours of the outburst of the incident and set ahead deteriorated after Ramalinga Rajus confession Source http//akpinsight-ijcbs.webs.com5 Implementation of strategic decisionOn 30th Sep 2008, Satyam reported that it had cash takes of 1.2Bn and on December 16th company expressed intent of acquiring Maytas Properties and Maytas Constructions for 1.6Bn. While Maytas infra a public listed company operating for two decades Maytas properties s only 6 months old which declared a revenue of 7.37Bn and net profit of 370 mn. On December 16th 2008 Satyam board approved acquisition of Ma ytas. The cash reserve to be used by Satyam to buy 51% of equity stake in Maytas infra for 1.3Bn USD and for Maytas properties 300 mn USD. Satyam planning to acquire 31% of the holding of the Raju family in Maytas Infra and another 20% through open offer to shareholders. The promoters held 36.64% equity stake in Maytas infra . Satyam planning to pay 475 Rs per Share which was 1.25% less than closing value December 16th and open offer made at 525 rs from the existing Maytas infra shareholders.After approval from board Ramalinga Raju announced this as a strategic move to de-risk core business by bootstrapping a new business vertical. He also called out that this would de-risk the recessional impacts on the accredited vertical of core business. Announcement however trigger negative reaction from industry, investors and stock markets. Satyams stock got severe beating on December 16.The ADR fell from 12.55 to 5.70 after this announcement . On Bombay Stock Exchange the stock fell from 22 6 to 158 rs. It went down further to 134 on December 24th 2008. The decision attracted conduct of criticism that promoters who has only 8.74% equity stake in the company were being allowed by the board to transfer a considerable amount of specie from Satyam to Maytas where Ramalinga Raju s family own more stake.Analysts called that this is act of siphon to move cash from Satyam into a place where Raju s family has more stake. Experts also called that if board is convinced with the deal then it is their responsibility to inform major investment institutions which is a good sign of proper corporate governance. Valuation of Maytas was not transparent and this was not even advised to investors in advance. Investors called this process as act of misuse of Satyam funds and its a nepotism. Registrar of Companies asked Satyam to submit minutes of board meeting for validity and review held on December 16th 2008. However Satyam could not provide minutes of meeting in the said deadline give n by RoC.These reactions compelled Satyam to roll back the decision within 12 hours .These accusations lead to few international issues where the long battle between British Virgin Island Based Upaid system and Raju and Satyam CFO. There are three cases breach of contract, forgery filed by filed by UPaid and one disparagement filed by Satyam. On December 23 2008 World Bank announced that it will bar Satyam to take any of its contracts for next 8 years due to improper invoice and benefit to employees.It was reported that Satyam sold its preferential shares to World Bank CIO. Before Maytas controversy got over DSP-Merlynch announced that it is terminating its advisory agreement with Satyam. In its communication it said considering various strategic options it had terminated its advisory agreement also quoted that it was to their understanding that there are accounting irregularities which prompted them above decision. Analysts said that this move compelled Raju to confess as SEBI aske d DSP-Merlynch asking why it had to withdraw the agreement.6 Merits/Flaws of implementationFollowing are the Governance Flaws noticed in the case of Satyam computer Services Limited6.1 Unethical ConductIt is evident that founder of the company wanted to make money any which way by avoiding taxes, cooking books , creating false payrolls and pay offs. Shareholders, employees and clients realized steady diet of (A)Satyam. He was not following the spirit behind its name. along with his brother Rama Raju who is his also managing director of the company disguised all this from companys board , senior managers and auditors for several years. Confession revealed the fraudulent and unethical look of the duo who bagged many awards and rewards for his best corporate governance including prestigious Golden Peacock award. Both CEO and CFO charged for putting self-interests ahead of companys interests.6.2 A case of insider tradingBoth central and state investigation agencies and also audit firms revealed and established that promoters indulged in the nastiest kind of insider trading of companys shares to raise money for building large land banks. It was established that money raised by Ramalinga Raju and Rama Raju along with his relatives used to buy lands in 330 binami companies.6.3 Case of False Books and Bogus AccountsThe Serious Fraud Investigation Office (SFIO), 23 a multi-disciplinary investigating arm of the Ministry of Corporate Affairs, set up in 2003 with officials from various law enforcement agencies, was asked to investigate the fudging of accounts as admitted by B. Ramalinga Raju. the consent of the board was unanimously accorded after which Raju proposed the merger of MIL and MPL to the shareholders, which came in for stiff resistant, and issue of corporate governance was raised. A couple of weeks later, Ramalinga Raju dropped a bombshell by sending a letter of admission to SEBI and the board of directors that he had fudged the accounts of Satyam and that th e balance sheet as on September 30, 2008 carried an inflated (non-existent) cash and bank balances of Rs 5040 crore, non-existent interest of Rs 376 crore and understated liability of Rs 1230 crore Source http//www.applied-corporate-governance.com/best-corporate-governance-practice.html6.4 Lax BoardThe Satyam Board was composed of chairman-friendly directors who failed to question managements strategy and use of leverage in recasting the company they were also extremely slow to act when it was already clear that the company was in financial distress. The glue that held the board members together was Ramalinga Raju. Each of the board members were there on his personal invitation and (that) made them ineffective. The Board ignored, or failed to act on, critical information related to financial wrongdoings before the company ultimately collapsed. It was only when Ramalinga Raju in the December, 2008 announced a $1.6 billion bid for two Maytas companies i.e. Maytas Infra and Maytas Prop erties, and while the share market reacted very potently against the bid and prices plunged by 55 % on concerns about Satyams corporate governance, that some of the independent directors came into action by announcing their withdrawal from the Board6.5 Unconvinced Role of Independent DirectorsThe Satyam episode has brought out the failure of the present corporate governance structure that hinges on the independent directors, who are supposed to bring objectivity to the superintendence function of the board and improve its effectiveness. They serve as watchdogs over management, which involves keeping their eyes and ears open at Board deliberations with critical eye raising queries when decisions twine wrong. Stakeholders place high expectations on them but the Satyams case reveals such expectations are misplaced. Six of the nine directors on Satyams Board were independent directors including US academician Mangalam Srinivasan (the independent director since 1991), Vinod K. Dham (f amously known as father of the Pentium and an ex Intel employee), M Rammohan Rao (Dean of Indian School of Business), US Raju (former director of IIT Delhi), T.R. Prasad (former Cabinet Secretary) and Krishna Palepu (professor at Harvard Business School).They were men of standing reputation. To avoid any controversy, the two founder directors did not participate in the decision making process for the reason that the provisions of the Companies Act and SEBI regulations mandate presence of only disinterested directors in board meeting where the agenda of such a nature is discussed. This naturally causes suspicion on the role put to deathed by the independent directors present in that meeting. What concerns everyone is that those independent directors allowed themselves to be party to the mysterious designs of the promoter directors. It is hard to believe that such eminent and experienced personalities could not discover the well-planned massive fraud and manipulations.6.6 Questionab le Role of Audit Firm/CommitteeThe true role of audit committee in prcis is to check out transparency in the company, that financial disclosures and financial statements provide a correct, sufficient and creditable picture and that, cases of frauds, irregularities, failure of internal control system within the organization, were minimized, which the committee failed to carry out. The timely action on the information supplied by 18 a whistleblower to the chairman and members of the audit committee (an e-mail dated December 18, 2008 by Jose Abraham), could serve as an SOS to the company, but, they chose to keep silent and did not report the matter to the shareholders or the regulatory authorities. The Board members on audit committee who failed to perform their duties alertly be therefore tried out under the provisions of the Securities Contracts (Regulation) Act, 1956 (an unimaginable fine extendable to rupees 25 crore by also including imprisonment for a term, which may extent to 1 0 years).6.7 Suspicious Role of Rating AgenciesCredit rating agencies have been consistently accused of their lax attitude in assessing issuers and loose misleading ratings without thorough analysis, as has been the case of Enron and now in Satyam, they failed to warn market participants about the deteriorating condition of company. On December 2, 2001, Enron Corporation, the USAs seventh largest corporation declared bankruptcy when it was rated investment grade by all the credit rating agencies even four days before its bankruptcy. None of the watchdogs barked, including the credit rating agencies, which had greater access to Enrons books.In the case of Satyam, credit rating agencies have been heavily criticized as regards their role and for the accuracy of their ratings. The rating agencies were allowed to look into companys books for making assessments but they never investigated the financial condition of Satyam. The rating agencies displayed lack of due diligence in their cove rage and assessment of Satyam. They based their analysis on fraudulently prepared and audited financial statements and thereby failed to warn investors about Satyams deteriorating condition.6.8 Questionable Role of BanksThe ICAI Probe Panel has hit out at banks for not doing due diligence on Satyam Software Services Ltd before giving it loans. While sanctioning short term loans why not the banks posed any question as to why the company which was supposedly cash rich as per the financial statements was taking loans from them. The Panel wondered why the government put Deepak Parikh on its Board despite his HDFC group being a major creditor to the company. The banks that gave loans to Satyam during 2000-08 despite the company claiming huge surpluses were HDFC Bank (Rs 530 Crore, Citibank (223.87 Crore), Citicorp Finance (Rs222.28 Crore), ICICI Bank (Rs 40 Crore), and BNP Paribas (Rs 20 Crore) totaling Rs 122.161 Crore.6.9 Fake AuditPricewaterhouseCoopers (PwC)s audit firm, Price Waterh ouse, was in the auditor for Satyam and have been auditing their accounts since 2000-01. The fraudulent role played by the PricewaterhouseCoopers (PwC) in the failure of Satyam matches the role played by Arthur Anderson in the collapse of Enron. S Goplakrishnan and S Talluri, partners of PwC according to the SFIO findings, had admitted they did not come across any case or vitrine of fraud by the company. However, Ramalinga Raju admission of having fudged the accounts for several years put the role of these statutory auditors on the dock. The SFIO report stated that the statutory auditors instead of using an independent testing mechanism used Satyams investigative tools and thereby compromised on reporting standards.

Gourmet Pasta Brand Analysis

Gourmet Pasta Brand AnalysisName- Charanjot SethiIntroduction-As I have done in the first assessment how to prep be the examine for gourmet Pasta and in this assessment I am going to do conduct a audit to see progress of that business and I would use all this sales records and their financial records that has been increase or decrease by the last one year or two years. The many types of alimentary paste in your kitchen have traveled a long road. Soon after early man began to plant grain, woman began to grind flour shape or cut lumps of dough, and throw them in the soup. Thus was pasta invented at different times and in different parts of Asia, the Middle East, and the Mediterranean Scholars and others have traced-and imagined-lines of migration and influence, only they look more like fussily than spaghetti. Along the journey from prehistoric dumpling to tagliatelle al rag, neat timelines ar few the most honor route pull up stakes be a tour of scattered highlights.Conduct an ext ernal audit-Data and in varietyation is classified as their qualitative or quantitative. As that gourmet Pasts Company was using flyers in local letterbox but that was only junk mail anyway. It butt end be easily to measured and digest to determine quantity or extent of factors being investigated.Quantitave data is focuse on words and observation not numbers. as that pasta company gives us their sales records for that year of 2009 which are showing that how was their sales going on into that time in the market.External audit- EXTERNAL AUDIT is an audit conducted by an individual or firm that is independent of the company being audited. These independent auditors audit the books of a company generally once per year after the conclusion of the companys fiscal year. Their role is to give an opinion of the financial statements reflection of the status and operations of the company being audited. Based on what they witness during the audit they will also produce, for management and bo ard utilization, a management letter. Although a financial statement audit is the most common type of external audit, external auditors may also conduct special purpose audits which might include performing specific tests and procedures and reporting on the results, a less intensive check, and compilations. An external merchandise audit covers issues such as economic factors, demographic factors, technology factors and legal factors.Economic factors gourmet pasts company thinks about their sales that has a big limiting from last years and they are not having a up to date faculty that who could provide all the information as they mentioned in the case field of battle one of their staff member do not know how to attended phone call for the take away orders and that effects the business most. They are not achieving short, medium and long term expectation of their business in regards of their staff and their credit availability.Demographic factors concord to the demographic tha t area has most of the people between age group of 25-50, and young professional who live close to the location and their income over $60000. I think they have to be careful because they are get trouble with their competitors that next to them and they all are busy all the time that affects a lot on gourmet pats restaurant.Technological factors-gourmet pasta have bother about their parking area that have big impact on people having access to the restaurants at night. They should provide new products and they could change their names according to their types. They could start doing online services and need to update their business and services that they are providing to the customers.Legal factors-according to me they have to follow the rules and regulation according to the government if they changing their expenditure list they should mentioned in advance to their regular customers because it impact the business lot. They have to keep in mind what are the new rules and make sure they are following them according to the government.External micro factors- those factors that meet audit requirements include-Market characteristics-that is the trend of market for restaurants is headed towards a more sophisticated customers. The restaurants patron at present relative to yesterday is more sophisticated in a number of different ways. As now days the preference for high-quality ingredients is increasing as customers are learning to appreciate the qualitative differences.Customer need- sartos pasta is providing with a wide selection of high-quality pasta dishes that are unique and pleasing in founding and utilize top-shelf ingredients. Sartos gourmet pasta seeks to fulfill some benefits that are important for their customers.Competitors factors as the owner of pasta restaurant explained that their competitors, had built a large 30 seat outdoor eating area and that it seemed to be full every time he went past and looked in and also one of the franchise chains, pasta bite, had opened up in the adjacent suburb giving the local customers greater options in pasta.Conduct natural audit Internal audit is a dynamic profession involved in helping organizations achieve their objectives. It is concerned with evaluating and improving the metier of risk management, control and governance processes in an organization. To do this, internal auditors work with management to frameatically review systems and operations. These reviews (audits) are aimed at identifying how well risks are managed including whether the right processes are in place, and whether agreed procedures are being adhered to. Audits foot also identify areas where efficiencies or innovations might be made. Internal audits are organized under an ongoing program of review and advisory activity this is ground on the strategic needs of an organisation. In the course of their role, internal auditors work across all areas of an organisation. In addition to core areas of financial control and I T, they review the tangible aspects of operations, such as an organizations supply chain or IT systems as well as more intangible aspects such as organizational coating and ethics. In fact, any system that has an impact on the effective operation of an organisation may be included in internal audits scope.The criteria to be used-in the internal audit we are focusing on sales analysis, SWOT analysis, product development, profitability and efficiency. they all are mentioned below-SWOT analysis-a trick up analysis examines the strengths, weaknesses, opportunities and threats for the business.As we strengths and weaknesses are factors that are able to control by the business. They both need to be consider from the perspective of the customers and should only be assessed base on their ability to assist or prevent the business in meeting market needs. Opportunities and threats exist independent of the business and are often beyond its control.Pasta company owner has to match internal s trengths with external opportunities to create the best competitive advantage.Sales record-as the company financial record staff member gave me the detail about the actual sales of 2009 which is below-SegmentBudget-2009Actual-2009individuals120,000121,000families150,000112,000Take away180,000203,000Total450,000436,000Functional efficiency, internal interface and-Gourmet pasta restaurants owner need to make sure that their relationship between sales and marketing are good and they are working effectively or he need to bring some changes in. to make sure everything working mighty he need to check all the service are up-to date and products and their expert skills are changed according to the new time basis. He should know that their staff members know all the service how to answers on the phone and how to serve people with healthy manners and that would impact his business with positive way. He should know about all the problems that are happening into the business and he need to c onsternate on them and they need to be fixed such as manufactured, fianc, purchasing and new product development. Marketing system-Marketing system is a set of procedures and methods intentional to generate, analyze, disseminate, and store anticipated marketing decision information on a regular, continuous basis. An information system can be used operationally, managerially, and strategically for several(prenominal) aspects of marketing.A marketing information system can be used operationally, managerially, and strategically for several aspects of marketing.We all know that no marketing activity can be carried out in isolation, know when we say it doesnt work in isolation that means there are various forces could be external or internal, controllable or uncontrollable which are working on it. Thus to know which forces are acting on it and its impact the marketer needs to congregation the data through its own resources which in terms of marketing we can say he is trying to gather the market information or form a marketing information system. This collection of information is a continuous process that gathers data from a variety of sources synthesizes it and sends it to those responsible for meeting the market places needs. The effectiveness of marketing decision is proved if it has a strong information system offering the firm a Competitive advantage. Marketing Information should not be approached in an infrequent manner. If research is done this way, a firm could face these risksOpportunities may be missed.There may be a lack of sense of environmental changes and competitors actions.Data collection may be difficult to analyze over several time periods.Marketing plans and decisions may not be properly reviewed.Data collection may be disjointed.Previous studies may not be stored in an easy to use format.Time lags may result if a new study is required.Actions may be reactionary rather than anticipatory.And the owners of that business have to control all those kind of risk and problems that affect the business.Marketing productivity-Measuring too much can be as bad as no measurement at all. ECI will assist you in navigating through the data and research maze of marketing analytics. The result of our data architecture audit is clearly defined key performance indicators that explain and clearly jibe to long- and short-term marketing and business success. To secure transparency and up-to-date overviews of your marketing performance we will support you in the implementation of extranet and dash-board solutions.Technology will not only increase productivity in the day-to-day marketing process, but also secure ownership of information and models related to your significant marketing and media investments. The system will track your investments from allocation of funds for marketing all the way to the profit and payback. The output of the process will be clear input to rising briefings.

Impact of Teleworking on Innovation

Impact of Tele go awaying on InnovationThis aim seeks to explore the relationship between high-tech firms, innovation, and the telecommuting trend. Specific tout ensembley, an examination of the high-technology sector in the UK is provided, followed by explanations of teleworking, innovation, and high-tech firms as they relate to the scope and focus of this study. The higher up is based on published findings of empirical enquiry and published reports. This study then considers how teleworking has collisioned innovation at the Intel Corporation, a leading manufacturer of semiconductors who allows employees in certain positions to telework originate or all of their work week. Innovation and impact atomic number 18 considered at an overall corporate level, rather than at an individual level.Findings of this research indicate that teleworking one to two dayseach week has no discernibly negative impact on innovation, and whitethornactually enhance innovation, provided systems to e ncourage andfacilitate innovation are in place. Implications for organisationsentering the teleworking arena and the sector as a unattackable are followed by recommendations for high-tech companies and for future research.Teleworking is a cultural trend in much of Europe and the Americas. While it provides many plusses and a a couple of(prenominal) minuses to theindividual tele players, its impact on organisations and particularlyinnovation at those organisations has not been sufficiently explored.This study seeks to consider the impact teleworking has onorganisations, specialally high-technology organisations, and their cogency to generate, initiate, and tool innovative products,processes and administrative estimates.A brush up of previously published findings related to teleworking,innovation, and high-technology is provided, covering these topics ingeneral. The focus of the study then narrows, amountressing organisationsthat both use and produce high-tech products or ser vices, and finallyconcentrating on innovation in the data processor hardware and softwaresector. Ideas and conclusions from these studies are then combinedwith cultivation from Intel Corporation, a leading manufacturer ofsemi-conductors and similar computer products, to analyse the specificimpact of teleworking at Intel.It is hoped the conclusions drawn from Intels experiences bequeath beuseful to some other high-tech firms practicing or considering teleworking,as well as encourage others to pursue related research.High-technology has evolved in the past thirty days from something outof a information fiction novel to part of the average Britains e genuinelyday manner. The UK contributes over 5% of the worlds research anddevelopment, although it has less than one percent of the worldspopulation. The UK specially has the larges software and computerservices sector in the EU, and a signifi erectt semiconductor industry(Anon 2005). From Bristol, at the end of the M4 hi-tech corr idor, toSheffield, where software has replaced steel, to the hi-tech centres inCambridge and Hertfordshire, high-tech is replacing and revitalisingthe declining UK industrial sector.It is all-important(prenominal) to note that the high-tech sector differs in severaldistinct shipway from other sectors of the economy. First, the speed atwhich technology changes is simply unmatched in other productionsectors. This requires not only eternal innovation in product, butconstant innovation in the process and administrative arenas as well(Edquist 2003). Property rights considerations throw forth starkly differentapplications in high-tech organisations. If companies wait until theirnew ideas were licensed or patented before progressing into production,the market go out in all likelihood pass by them and their product before it evenmoves into sale (Cohan 1997). High-tech organisations are excessively more(prenominal)likely to share information and partner on products, particularly int heir non-core technologies, and share the profits with some other firmrather than miss a market entirely (Edquist 2003).The local high-technology sector differs in some ways from that inother countries. The UK has historically lagged behind the UnitedStates and Japan in its ability to move a product from idea toproduction in the high-tech arena. UK firms, unless part of aninternational company who mandates certain practices, have not made asmuch effort to design intra-organisational systems to encourageinnovation (Surrey 2004). In a study by the University of Surrey,Ellie Runcie stated that after studying UK and U.S. high-tech firms,she found UK organisations have ofttimes no discussion at all is made ofthe role of user research in innovation (Surrey 2004). This is aconcern regarding the UK high-tech sector that needs to be considered.The UK in any shift has a lower per-capital computer literacy and computer use,particularly in the al-Qaida sector, than some other high-tech nat ions. Ona more positive note, the UK government has launched a campaign to maturation computer literacy and home computer use. Intel, BT, andMicrosoft are the three study organisations working with the OeE, DTIand DfES on this campaign (Intel 2004).One of these leaders from the high-technology sector, the IntelCorporation, will be considered in greater detail. Although aU.S.-headquartered firm, Intel has facilities in several places in theUK, as well as worldwide. Intel is a major manufacturer ofsemi-conductors and computer processors, and will be apply as an examplein this research of how teleworking fundament contribute to innovation in thehigh-tech surroundings.As this study considers the topics of teleworking, innovation, andhigh-technology, it was felt necessary to define and set parameters foreach. The following literature is considered in the scope of thisresearch, with specific delineations of the three main study componentsoutlined in detail.We have recently entered an important new phase in the ongoinginformation technology revolution. It is difficult to pick up abusiness cartridge clip or newspaper today without reading about anorganisation offering teleworking and virtual lieus for remoteworkers. There has been fair media coverage in how companies haveembraced the idea of teleworking, including the likes of ATT,Ernst and Young and IBM. A monthly magazine is even devoted totodays flexible workplace, Telecommute, published by the nationaltrade organisation, the International Telecommuting Advisory Council(ITAC).Part of a general trend towards remote work, teleworking is a naturalresult of the information revolution, fuelled by the growth of fellowship work and the rapid advance in technology. The trend isconsistent with predictions made by futurist Alvin Toffler in his 1980book The Third Wave, that the location of work would outgrow typicalsites much(prenominal) as offices or factories, and begin to take place in alllocations.Teleworking is e specially decorous frequent in high-technologyorganisations. During my work placement at Intel Corporation, I wasto a fault exposed to various team members teleworking from home one to twodays per week. While this trend is popular with employees, it behovestodays high-technology company to consider the impact of teleworkingon innovation. This sector of the business environment is particularlydependent on innovation to remain viable, and it is important,therefore, that the initiation and implementation of innovation not besacrificed to worker preference.Examination of various sources reveals a lack of consensus as to thedefinition of teleworking, or as it is sometimes called,telecommuting. Teleworking is more common in European literature,while telecommuting is more common in but not limited to Americanliterature. Unfortunately, this lack of a universally accepteddefinition of teleworking causes problems academically as either termcan be used to hatch home-working, working-at-a-di stance, off-siteworkers, or remote-workers, it hinders the ability to comparefindings from different sources. Therefore, it is necessary to chooseand define a single term before proceeding.The term telework is generally preferred on this side of theAtlantic, and will be used here. Huws, Korte, and Robinson (1990)define telework as work which is independent of the location of theemployer or contractor and can be changed concord to the wishes ofthe individual teleworkers and/or the organisation for which he or sheis working (10). Olson (1988) argues, the term telework is used torefer to organisational work performed outside of the normalorganisational confines of space and time, augmented by computer andcommunications technology. The work is not necessarily performed in thehome (77). The EU holds that telework covers a range of new ways ofworking, using the telecommunications as a implement and, for at least partof the time, outside a traditional office environment (EuropeanCommissi on, 1996, 11). Jack Nilles defined telecommuting as an arrangement that entailsworking outside the conventional workplace and communication by way oftelecommunications or computer-based technology (Bailey and Kurkland,2000). fit to The American Telecommuting Association, 2002,telecommuting is replacing or supplementing physical travel to theoffice by using modern telecommunications equipment to bring officeresources to the employee. While computers serve to augmenttelecommuting, it is possible to telecommute with only paper, penciland telephone.Distilling the above into a workable definition, important elements of telework for the purpose of this study include the person doing the telework is an employee of the organisation for which she or he works computers and communication technology are used it is not necessarily performed in the home, but does occur outside a traditional office environmentTelework is therefore defined as any substantial part of an employeeswork performed by employees that is physically separated from thelocation of their employer using information technology (IT) foroperation and communication.Three groups are affected by teleworking the employers ororganisations, the individual teleworkers, and society as a whole.Benefits and drawbacks to individual teleworkers spay greatly fromperson to person, and are difficult to evaluate. Benefits to societyare primarily environmental, as reduced commuting decreases pollutionand reduces transportation-related injury. This study will thereforefocus on the affect of teleworking on the employer or organisation.Areas of benefit include increased productivity and financialadvantages. Drawbacks security concerns, management issues, andreduction in interaction and exchanged of ideas. Each of thesebenefits and drawbacks will have impact on innovation inhigh-technology environments.INCREASED PRODUCTIVITYAccording to The American Telecommuting Association, various surveyshave documented teleworking emp loyees productivity gains of up to 60%(1992). They claim that surplus productivity is consistently clocked at10-15% in nearly every study in the past two decades. The SocialMarket Foundation (2004) argues that teleworking can increaseproductivity by up to 30%. They further claim that the more than twomillion UK workers now regularly telecommute with employees use thetime saved from commuting and meetings for tautologic work. Huws (1992),Salmon and Shamir (1985), Caudron (1992), and Metzger and Von Glinow(1998) all report indications of improved productivity, reliability andwork quality among teleworkers.The increase in employee productivity resulted from teleworking isalso supported by G. E. Gordon, who claims there are a variety ofreasons for increased productivity in employees who telework. Theseinclude decreased time dog-tired commuting to work, fewer distractions inthe workplace, and giving telecommuters the opportunity to better matchtheir work times with their peak procrea tive periods. He notes thatproductivity gains ranging from 15-30% are common with such programs(Gordon 1986).Employee motivation is another cited reason for improved productivity.Employees perceive being the ability to telework as an indication thattheir employers have sufficient trust and faith in them to workindependently. It could also be argued that teleworkers in fact workharder than non-teleworking employees as they feel the need to prove totheir office peers that they are not indolent as a result of working athome without supervision. Teleworkers may also feel the need to workharder to achieve promotions ().However, various theorists argue that some employees find that becausethey have their work resources at home, they tend to work more. Thiscould interfere with family life. In addition, telework can be viewedas an intrusion of the workplace in the home. The office at home is aconstant reminder of work. There is the real problem of definingconcrete working hours when the dis traction of home life is a constantpresence. Working hours and companionable versus home time can becomeblurred. Another form of intrusion is when family members or socialinterruptions constantly disrupt teleworkers from completing work.This may add extra pressures and stress. Teleworking employees whoexperience such disruption and time management issues may actually havedecreased motivation and productivity due to these outside factors.Therefore, it is important that employees exercising their extract totelework draw strong boundaries that will enable them to work effectively. Guidance from the organisation and possiblity sometraining in effective teleworking should be included by an organisationemploying teleworkers. Smith (1997) suggests telecommuting reduces absenteeism amongstemployees. For example, employees who may feel too ill to complete afull day and commute, may be well enough to work a partial day.Individuals are more likely to continue working even when feelingunwell due to being in a more comfortable and relaxed work environment,i.e. their home. Smith counters that teleworkers oft havedifficulty, especially at first, with separating home and work time.This increases if children are in the teleworking location, most likelythe home. However, adjustments are commonly successful in the long term. Further, the Bureau of Labour Statistics reports that businessproductivity, the measure or siding per work hour, has risen 2.8% since1998. This correlates positively and directly with an increase inteleworking. Teleworking has been perhaps, therefore, most effective inincreasing productivity. Clearly, these human resource managers are very satisfied with theirprograms and believe their telecommuters are satisfied as well. Ifhalf of the firms included in the above research are reporting morework done at a better quality in semblance to the traditional workforce, there must be considerable merit to teleworking increasingproductivity.FINANCIAL SAVINGSTel eworking can also save firms money in a number of ways. It providesthe employer with an expanded pool of potential employees. The skillsof employees with commuting difficulties, childcare conflict,disabilities and geographical barriers employees are all made availableto the employer who adopts the telecommuting practice. Smith (1997)supports this, claiming teleworking offers gentle workingconditions, which aid in the recruitment and retention of skilledemployees and serve well to reduce voluntary separation of key employees.This represents considerable savings to the employer in terms ofreduced hiring and training exists. cut back overhead is another financial benefit. Teleworking reducestime and travel be for meetings, conferences and training thusminimising organisational overheads. Individual teleworkers alsobenefit from reduced costs in transportation, clothing, childcare, andreduced absenteeism.Teleworking can also help firms remain in the same location and avoidfuture relo cation to larger premises. This particular cost saving ishighly remunerative due to the increasing real estate prices in urbanareas today and the substantial cost savings in office space. Peoplewho telework do not use office space and do not create overheads. Evenin case of part-time teleworking space savings are generated. This isevident at IBM, who is expected to save between 15 to 20 percent inspace requirements by taking away the desks of more than quint thousandof its employees and telling them to work at home, in their car, or attheir clients offices (Swinton 2002).The claim that teleworking reduces organisational overheads is alsosupported by BT who introduced its Workstyle 2000 flexible workingprogramme ten years ago. The claim that the programme has saved them134m as a result of teleworking practices. This includes reducing thenumber of employee desks in London from 10,000 to 3,000, saving 6,000per desk per year. There has also been a five% reduction in companycar mileage, resulting in fuel savings of 9.7m this year alone. BTalso reports a 20% increase in productivity and that 75% of alltelephone conferences are replacements of face-to-face meetings. Opponents of teleworking argue there are often some initial increasedcosts due to outfitting the teleworkers and making adjustments tocompany computers to accommodate them. Ford (1995) claims thattelecommuting programs lead to extra costs. He claims that extra coststypically involve additional equipment requirements and funding theprovision of human resource services, training, fringe benefits, andrelocating. He continued to argue that the question of cost alsoincludes the equipment and space costs associated with telecommutingprogram and that telephones and electronic equipment cost more fortelecommuters than for traditional workers.It is important that hardware and software provided to teleworkersstarts out and remains uniform because this simplifies supportimmensely. The required initial investment an d length of time forpayback will vary sharply from company to company, however, with themost technologically advanced incurring the least upfront costs. Giventhat high-tech firms are those under consideration in this study andthey have the most access to the latest and most efficient technology,it then follows that these expenditures do not detract from the savingsfor high-tech firms adopting or practicing teleworking. Additionally, many companies report current pressures on their supportdesk and according to Classe (2000) this will intensify by theintroduction of a remote workforce. As teleworkers usually worknon-standards hours, longer hours of support cover may be required,which will confer additional associated costs to the employer. Thecost factor for such support scatter across a larger high-tech companywill have little impact the same costs spread across a smaller companymay be significant and should be considered a potential drain onresources that could support innovation i mplementation.SECURITYSecurity is a major concern for high-tech companies with teleworkingemployees. Confidential information must be accessible to theteleworkers remotely, information that may range from a product indevelopment to a change in production methods to sensitive profiles offuture customer bases. This makes the same information more accessibleto hackers and competitors it is highly unlikely a company couldafford or an employee would want equal security measures on theirprofessional facilities and residences.In addition, information used and generated by teleworkers willtypically be uploaded to a server for accessibility. Others within thecompany then have increased determine of access, compromisingintra-company security.Eric von Hippel, however, in his study of knowledge location andinnovation solving, noted conducting innovation-related problemsolving at remote sites need not compromise an innovators ability toprotect commercially important secrets (1994). While greate rpotential for security breaches exist, this in no way indicatessecurity need be compromised by teleworkers.MANAGEMENTOne of the biggest problems for managers and staff involved withtelework is measuring and monitoring the work done by employees.Management grapple that it is easier to monitor the level of workdone by employees when they are in the office and managers often worrythat their staff will not work as hard from home. Teleworking presentspotential issues with the ability to discipline telecommutingemployees, provide a career path, and provide promotionalopportunities. Those in supervisory positions often see difficultiesin relation to mangers human resource management responsibilities(Werdigier and Neibuhr 2002). Ford (1995) also raisies the issue of the telecommutting impact on thesupervisors span of control. Due to the workers being so spread out,Ford claims that many companies will be forced to reduce the averagespan of supervisory and will not have sufficent control t o accommodatethe unique problems of telecommuters. Ford suggests that another majoraspect of the supervisory issue is the ability of the manager tocontrol distractions in the work setting and to ensure that theemployee does not become displaced from the informal help and adviceavailable through interaction with a work group.Clearly, managers of such programs need to be trained in remotesupervision. In addition, they should recognise the hap thattheir teleworking employees may not have adequate access to training,career and promotional opportunities. More importantly, theseemployees may miss the informal information sharing that occurs in atraditional work environment. This will be shown to have a significantimpact on innovation. REDUCED SOCIAL INTERACTION AND POLITICAL INFLUENCESocial isolation seems to be mostly declare by scholars as themost significant potential or actual drawback of teleworking. Whilesome employees welcome the new freedom that comes with lesssupervision, other s say they miss the camaraderie and socialinteraction that comes with face-to-face office operations. However,this usually depends on the professional level of the employee. Smith(1997) argues that the higher the level, then the more electroniccontacts and networks hence, less social isolation is experienced.Video conferencing could help ease the psychological trauma that comeswith social isolation, allowing multiple numbers of people to converseand perform work together in an electronic version of face-to-facecommunication. This may allow teleworkers to increase the humanemotion and communicational flexibility often lacking in electroniccommunication. Social isolation also implies that for teleworkersthere is minimal peer availability for informal work relateddiscussions as one might get, for example, in a staff cafeteria atlunch times.In addition, teleworkers may lack the political connections and cloutto get innovations approved or funded. With reduced opportunities tobuild relat ionships on the job, they are forced to propose or supportinnovation but on the merits of the proposal (Werdigier and Neibuhr2002). While this theoretically could be a positive result ofteleworking, in practice it reduces the chance of innovative input fromteleworkers being initiated or implemented.DECREASED KNOWLEDGE EXCHANGEIt could similarly be argued that the largest detraction of teleworkingon innovation in high-technology organisations is the reduction ofknowledge exchange from employee interaction. Informal and proximitylearning is an ongoing opportunity for training in the traditionaloffice environment not available to teleworkers. If both are in thesame location, an inexperienced worker can observe another moreexperienced worker and learn from this observation. This is asignificant training tool for office-based or facility-based workersand one of the main ways knowledge is acquired and exchanged in anorganisation (Classe 2000).CASE STUDY BTThe various benefits of telecom muting to the employer can be supportedby the findings of a study conducted amongst 2000 BT employees (2002).The study revealed that enabling staff to work from home resulted inincreased company productivity and better employee health and qualityof life. BT claimed that telecommuting saved them 35m a year inaccommodation, recruitment costs and absenteeism and that teleworkerswere four times less likely to take sick days, averaging three days offa year compared with twelve for office-based staff.The study also revealed that almost 80% of teleworkers claimed to bemore productive thanks to reduced disruption, commuting time andstress, and greater flexibility about when and where to work.According to Alison Garner, marketing manager for social responsibilityat BT making staff feel part of the BT community was key to theschemes success.Although a small number of teleworkers complain about increased workinghours, four out of five survey respondents claimed that teleworking isimportant or very important for their quality of life. Almostthree-quarters described their work/life balance as good or verygood. BT also maintained that its teleworking policies paid off interms of staff recruitment and retention.CASE STUDY THE SUSTEL PROJECTThe Sustel Project, created in 2002 by the EUs Information SocietyTechnologies programme, found that telework increases businessresilience since it allows work to be done when building operations aredisrupted by factors such as the weather.The Project also showed that the influence of telework on human capitaldevelopment, the personal competencies and skills needed to createwealth, was mostly positive. Seven of the studies found that teleworkhad a significantly positive effect on internal communication andknowledge sharing, often due to the conscious implementation oftechnological tools during telework program deployment. At theindividual level, the main financial benefit of telework was reducedcommuting costs, which almost all respondent s truism as being greater thanthe increased cost of energy in their home.BENEFITS AND DRAWBACKS CONCLUSIONAt the present time there is a lot of list in both academic andpractitioner literatures with respect to how telecommuting affectsorganisation employees. At one extreme, telecommuting is considered aflexible work arrangement that will solve a multitude of problems. Atthe other extreme, authors have implicated telecommuting causing anumber of negative consequences including loneliness, isolation,exploitation and increased stress. While there are a legitimate numberof potentially negative effectuate of telework, these effects can beminimized by proper program management.A balanced view is presented from Baruch and Nicholson (1997) andGoodrich (1990) who claim that the best output from telecommuting isachieved if it is conducted on a part-time basis. They argue,teleworking on a part-time basis can prevent or significantly reducethe social isolation of teleworkers.There are a num ber of benefits and drawbacks that should be consideredspecifically by high-tech organisations implementing teleworkprogrammes. From a broad organisational perspective, the positives ofsuch a programme seem to outweigh the negatives. However, the twodrawbacks of teleworking with legitimate effect on innovation in thehigh-technology sector are reduced political influence, and knowledgeavailability and exchange. As these have been identified as ofgreatest impact, these areas will be focused on in this study.As with teleworking, there are a number of different proposeddefinitions of innovation. One of the most complete is offered byDamanpour (1996), who defines innovation as the adoption of an idea orbehaviour new to the adopting organisation, which usually occurs as aresponse to changes in the external environment or as a pre-emptiveaction to influence the environment (694). Innovation is departingfrom existing norms and practices, and requires risk taking(Damanpour 1996, 698). Edquis t (2003) defines innovation as newcreations of economic significance, primarily carried out by firms(2). Depending on the researcher, innovation is held to require either twoor four steps to implementation. In the four-step model, theinnovative idea is first discovered or created. This usually happenswith one individual or a small number of individuals working as ateam. The idea is then presented to and accepted by a decision-makingleader or body. Initial adoption of the innovative idea by theorganisation is the next step, with the company allocating someresources to the development of the idea, such as pilots or testcases. Implementation occurs when the innovative idea reaches broadacceptance within the organisation and becomes part of its regularproduct, process, or practise (Styles and Goddard 2004). The two-stepcombines the first three steps of the four-step model under oneheading, initiation (Damanpour 1996).There are three types of innovation product innovation, processinnov ation and administrative innovation (Edquist 2003). Allcompanies, and small firms in particular, are more likely to innovatein the product arena, where results are tangible and measurable.Larger firms will also innovate in process areas. However, processinnovation is more difficult to implement than product, as it requireschange across multiple systems. Administration innovation occurs mostfrequently in large, structurally complex companies, as it requires themost widespread changes to the organisation (Damanpour 1996). Innovation within these three areas can be radical or incremental.Radical innovation produces fundamental changes in the activities ofthe organisation and represent a large departure from existingpractices (Damanpour 1996, 699). Radial innovation requires a largerknowledge base and free resources. Incremental innovation is adoptedmore slowly, and produces less pronounced changes to organisationalsystems and activities.Innovation, therefore, is defined in this study as a change in theproduct, process or administration of an organisation a new idea thatdeparts from existing norms and practices to respond to the firmscurrent or future environment.Innovation implementation requires knowledge, creativity, politicalsupport (within the organisation), and adequate resources. Increasingany of the above or making the systems that control them moreeffective, therefore, has a positive effect on innovation. Asinnovation requires both change and risk, companies will only undertakeinnovation if it is perceived as necessary to their survival or can beshown to have financial incentives.Recognizing the forces driving the organisation to innovate isimportant. For example, environmental uncertainty and environmentalcomplexity both contribute to increased innovation. Uncertainty aboutthe future leads directly to a concerted effort to increase knowledgebase and exchange. This influx of information then leads to increasedinnovation (Damanpour 1996). This is especial ly evident inhigh-technology firms, where a market leader product today may becompletely out of date by next year. Definite, articulated identificationof the need for and support of innovation within the organisationgreatly enhances the chance of implementation of an innovative idea.Similarly, development or adjusting organisational systems to encourageand support innovation increases the chance of innovative success.Damanpour found that large organisations can facilitate theimplementation of innovations by adopting more flexible structures andorganising themselves into smaller units (1996, 700). Creation ofinnovative ideas is more likely in complex organizations, where thereis a larger knowledge base and an increase in knowledge exchange(Damanpour 1996). However, larger organisations are less likely tomove innovative ideas to implementation as they are typically moreformalized, with lower managerial incentive to innovation (Hitt,Hoskisson and Ireland 1990).An example of this is IB M, which made a sy

Recruitment And Selection At Tesco

Recruitment And Selection At TescoAs a member of the HR department I need to research and make a report in order to check the quality of new staff being hired. The aim of this report is to look for what argon the best means of testing and hiring new employees. It will similarly look into some benefits and drawbacks of enlisting process in two successful companies which are Tesco and McDonalds. Consequently, I will outline some suggestion which I think is the best for our company.2.0 ProceduresThe information is collected from internet and using secondary research to cumulate data for my report.3.0 Findings3.1 Recruitment and selection at TescoTesco is the largest private sector employer and operating over 13 countries outside the UK. there is increasing all the time in the number of both store-based and non-store. In addition, in order to achieve business objectives, Tesco needs to make sure that they have the compensate number of workers in the right jobs at the right time. I n order to do this, Tesco has a step by step process of recruitment and selection to appeal appli hatfults for both operational and managerial roles. As the company is growing, it is important for Tesco to have workforce planning which is future needs for state in term of locations, numbers and skills.As regards of recruitment, it can be defined as the process of identifying which the organisation needs for a new employee. Tesco furthers vacancies in different methods. The process of recruiting depends on the job available. Firstly, Tesco looks at national Talent Plan to fill posts. The lists of current employees who looking for a move or on promotion will be consider. If nobody is suitable in this talent plan, Tesco use internal advertize to post in intranet. However, external recruitment, the vacancies are posted in the Tesco websites or external vacancies board. When making applicant online for managerial position, the chosen applicants must have an interview. Consequently, people who are selected will visualiseance at an assessment centre for selecting process. Having the CV or register at Jobcentre Plus, vistas who elicit in stored based jobs can apply stores in Tesco. The store prepares a waiting list of application which is not selected and calls them if vacancies become available. Furtherto a greater extent, for the jobs with more specialists such as pharmacist, baker the external recruitment method will be used for example radio, magazine, television.As far as the selection are concerned, it involve in selecting a suitable candidates from applicants by using the job specification and job description. The important part of the selection process is screening candidates. This is ensure that people are selected have matched with the job requirements. Initially, each applicants CV which summarises the candidates education and job experience will be looked cautiously by the Human Resources in Tesco. The firm also provides a job type match on career s web page. Hence they can see where they fit or not. A person who passes screening attend assessment centre will be invited to second interview. If they are successful, they will receive an offer letter and contract. The assessment centre is take place in store and is run by managers. It will give to candidate several tasks which include problem solving, team working. These exercises can help candidate to deal with genuinely problems at work.3.2 Advantage of recruitment and selection method in TescoWith respect to recruitment process, Tesco will try to find the most cost-effective way of attracting people. Although it is not cheap to advertise on television and magazines, this is essential to point the right type of people for the vacancies. It is easy for applicants to seek about available jobs and also has a simple application process throughout the Tesco website. First of all, by using internal recruitment in Tesco lead to cut the cost of recruiting workers from outside. This is due to less(prenominal) training and orientation required In addition, the HR department know more about the candidates ability. This will increase productivity of current employee and stronger commitment to the company.There are a number of benefits by using external recruitment method. Because of new people, they will bring in Tesco new perspectives and ideas. Furthermore, Tesco have more survival of the fittest to choose candidates they have a wider range of experience.3.3 Disadvantage of recruitment and selection method in TescoAs regards to internal recruitment, the number of applicants can be limited. owe to already known about strength and weakness of candidate, Tesco could not have new ideas from outside. In addition, another vacancy will be creating which need to be filled. On the other hand, in external recruitment, it has more expensive because of advertising and longer process. The selection process might not be effective passable to find the best applicant.3.4 Intr oduction to recruitment and selection methods in McDonaldsMcDonalds is a one of the largest scale employer. Most workers are paid by the hour and those people called as crew members. Their jobs are to prepare the food and serve customers in order to make the restaurants run more efficiency.With respect to recruiting hourly-paid workers McDonalds have created a dance application process for potential crew members. Firstly, all candidates must do the psychometric test and then they need to go online and fill the application. Once successful, the candidate will be invited to a restaurant for an on job experience (oje) and interview. The purposes of OJE give a good opportunity to evaluate the candidates customer service skills, how they fit on with other member in McDonald and allows candidate to see whether or not suits with working environment. After that, the candidate will work in customer facing areas about 2 day assessment and will be given full instruction on what to do. Conse quently, they have a final interview with manager who will give the decision about the applicant. When crew member have been hired, they have to attend a welcome face-off to demonstrate their skills and behaviours. This meeting will show an overview of the company and then candidate must do health safety and food safety test online.3.5 Advantage and disadvantage of recruitment and selection methodsAs we can see, the way McDonalds recruitment people it appeal more people to apply because they offer employee with many rewards and bonus. This also increases competition amid employees to get prizes. They also provide good working condition which help workers more flexible at work. The other thing here is that people are easily to find out and apply quickly which save a lot of time.On the other hand, there are some drawbacks of these methods. Firstly, owing to more reward, this lead to increasing cost for company.4.0 ConclusionFrom my point of view, both companies have good recruitment and selection policy depends on what they are doing. McDonald believes that employees are a vital role in the company to achieve the success of the restaurants. Their aim is to recruit the best people and keep them by offering on-going training think to their position, therefore promoting them when they are ready. The recruitment policies to fulfil its aim. However, Tesco believes that workforce planning is vital for business. They got strong organisational structures. It provides user-friendly ways of applying for jobs and a consistent approach to recruitment and selection.5.0 passHaving finished research and analyses the recruitment process in both company, I would like to recommend some suggestion for our company which are application online, advertise on TV, using job specification and job description. First of all, application online help people easily to apply and attracting more people is due to develop of technology nowadays. Secondly, advertising is good way to grab att ention of people. The reason is that most people like watching TV in leisure times. Although advertising is expensive in the short run, we will have more result in the long run. This is because we have right employee who will contribute to our company for a long time. Finally, when we have many applicants, using job specification and description are the good ways to choose the right person. These documents help us get the overview of candidates what the qualification they have and their experience.

Moulin Rouge and the Disneyfication of the Avant Garde :: Movie Film Essays

Moulin Rouge and the Disneyfication of the Avant GardeAt best Moulin Rouge is a lot of fun. At worst it represents the erasure of history. Moulin Rouge is set in the capital of France of 1900--at least ostensibly it is. The actual Paris of 1900 is the Paris of Satie, the Paris of Ravel, of Debussy. The actual Paris of 1900 is the Paris of Matisse, and at least for part of the year, the Paris of Picasso.This is very fertile ground for a love story, a musical, anything, really. Puccini found it good rich for La boheme, aft(prenominal) all. What we get in Moulin Rouge, though, is a Paris of 1900 filtered through the myopia of late 20th Century pop culture, especially pop music. We get an anachronistic gallimaufry of Madonna and Elton John, of Nirvana and Olivia Newton John.In other words, it isnt the Paris of 1900. It isnt even close.Granted, Henri Toulouse-Lautrec shows up as a supporting character and on that point is, in the film, a nightclub called Moulin Rouge from which the fi lm cribs its title. But other than that, and the ubiquitous absinthe, theres not some(prenominal) Parisy about Moulin Rouge the moving-picture show, much less Paris, 1900. The character of Toulouse-Lautrec speaks vaguely of the Bohemian Revolution but only long enough for the film to make fun of it, and neer in enough detail for either a credible manifesto or a credible satire. And, of course, it has to be advocated by Toulouse-Lautrec because Hollywood still thinks dwarves are funny, especially dwarves with lisps. So why does so little of the real Paris of 1900 appear in this film? I have my suspicions that to use, say the music of Erik Satie, would have been too gainsay for contemporary audiences. It may have been deemed out of the target demographic of the film, probably indie movie buffs in the 19-30 range whose introduction to the avant-garde was Trainspotting. A movie about a writer in Paris that actually dealt with other writers who were really there, other artists who di dnt have the luck to be born lisping dwarves, would never have been made. I mean, who would go to see it? Old people?The problem, of course, with always making things people can relate to, is that in constantly recycling what we know, we drop dead to ever learn or be challenged by anything new, even if that thing, new to our experience, is past history.