...There are three types of economies market economy, command economy and mixed economy. The economy is very influential on how good Tesco do in a financial year; so if there is a good economic environment the confident customers will be more willing to spend money than customers with low confidence, which means that Tesco is more likely to benefit if the customer confidence is high. Stages of high customer confidence can confidence can present opportunities for Tesco to expand or bring new products to the market. Low confidence of customer’s means that Tesco have to cut cost to maintain profits. The UK economy is currently in the growth period after coming out of the recession from 2009. Even though we have come out of recession Tesco’s profits have only increased slightly compared to their profits before the recession. In 2014/2015 financial year Tesco made a profit of £1.4billion which is a decrease 4.62% decrease form the year before. GDP (Growth domestic product) Growth domestic product is simply a measure of a...
Words: 6749 - Pages: 27
...August 2014 ~ v1.0 August 2014 ~ v1.0 Employee Benefits Operational Plan Employee Benefits Operational Plan Contents Contents 2 1. Introduction 3 2. Context 3 1.1. Environment 3 1.2. Industry 4 1.3. Stakeholders 5 1.4. SWOT 6 3. References 9 4. Annexures 10 8.1. Annexure A: PESTEL analysis 10 8.2. Annexure B: Porter’s Five Competitive Forces 11 8.3. Annexure C: SWOT analysis 12 1. Introduction The Employee Benefits operational plan sets out the short-term objectives for the business unit (also referred to as company) for the next 12 months. It aims to identify what needs to be accomplished in order for the company to meet its strategic objectives and it does so by identifying and outlining those activities that need to be implemented. 2. Context The following section provides background for the focus, decisions made and activities selected in the operational plan for Employee Benefits. 1.1. Environment An environment analysis focusses on the external and uncontrollable factors that influence an organisation (Peters [sa]). PESTEL is a common macro environment analysis tool which looks at factors from political, economic, sociocultural, technological, environmental and legal aspects and Vitez (2014) explains that such a macro environmental analysis helps create a strategy that leverage as many of these external factors as possible to the company’s advantage. The PESTEL analysis for Employee Benefits has identified...
Words: 2288 - Pages: 10
...$5 billion dollars. It is a multinational corporation with its corporate office located in Toyota City, Aichi, Japan. Toyota currently employs roughly 310,000 people around the world. (2010) The Toyota Way and the Toyota Production system are what make up Toyota’s DNA. The Toyota Way can be summarized two ways: continuous improvement and respect for people. (Liker & Hoseus, 2008) Continuous improvement is translated as Kaizen which is huge in the Toyota culture where this means challenge everything. (2008) Toyota is also responsible for the invention of the term “lean production” sometimes called the Toyota Production System or TPS. (Liker, 2005, p. 115) This invention has triggered a global transformation in just about every industry to Toyota’s manufacturing and supply chain philosophy and methods for over a decade. The company has won awards for being the best in class by both its peers and competitors throughout the world. Toyota automobiles have consistently been at the top of quality rankings by J.D. Power and Associates, Consumer Reports and many others for years. (2011) For many years, Toyota was the top auto maker in Japan and a number 4 in the U.S. behind the Big 3 auto makers (Ford,...
Words: 1838 - Pages: 8
...Major events in society such as elections, war; economic conditions such as recessions and sociocultural ideologies form the mold for an individual’s perception. This affects the individual’s decision making which functions as a determining factor in that individual’s personal development. Because of this, an individual’s choices and behavior do not occur in vacuity due to the nature of familial interaction inside a sociohistorical timescape. Understanding the geographical and historical contexts of an individual assists experts in the gathering and analysis of circumstantial data that affects the individual's life course. (Clarke, P., Marshall, V., House, J., & Lantz, P., 2011, p. 1291) For example an elderly individual living in the Kalahari desert will not receive the same health care treatment as a wealthy individual...
Words: 2030 - Pages: 9
...Part I: Pre-crisis time, what caused crisis, reasons of collapse In 1920s the economic progress in United States seemed everywhere, as Americans emerged from the self-imposed rationing and sacrifice of World War I and went on a buying spree. Millions of people across the country bought their first everything—their first automobile, washing machine, camera, radio, refrigerator. These products came off America’s assembly lines in an endless stream. More people were at work in U.S. factories and production plants than ever before, producing more goods than ever before. The U.S. economy was sometimes compared to an economic miracle. Consumers in the United States were not the only ones to experience good times. U.S. investors had also had a field day. Overseas, U.S. investments nearly doubled from $3.98 billion in 1919 to $7.5 billion by 1929. The New York Stock Exchange, which served for many as the truest indicator of the nation’s economic pulse, enjoyed phenomenal growth, especially after 1923. Stock purchases on the Exchange increased four-fold between 1923 and 1930. And stock sales were only outstripped by the rise in stock prices. Altogether, investment in the stock market and in bonds rose sharper than any other economic indicator during the decade, faster, in fact, than the actual production or sales of manufactured goods. During the 1920s a would-be investor could make his or her stock purchases largely on credit. Under the rules in place for the New York Stock Exchange,...
Words: 4815 - Pages: 20
...thomas a . meyer How Great companies Get Started in terrible times Innovate! Innovate! How Great Companies Get Started in Terrible Times THOMAS A. MEYER John Wiley & Sons, Inc. Copyright © 2010 by Thomas A. Meyer. All rights reserved. Published by John Wiley & Sons, Inc., Hoboken, New Jersey. Published simultaneously in Canada. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, except as permitted under Section 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, (978) 750-8400, fax (978) 646-8600, or on the web at www.copyright.com. Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030, (201) 748-6011, fax (201) 748-6008, or online at http://www.wiley.com/go/permissions. Limit of Liability/Disclaimer of Warranty: While the publisher and author have used their best efforts in preparing this book, they make no representations or warranties with respect to the accuracy or completeness of the contents of this book and specifically disclaim any implied warranties of merchantability or fitness for a particular purpose...
Words: 58226 - Pages: 233
... Fortunately, for those of us not born effective (no one is), these habits can be learned. Furthermore, the collective experience of the ages shows us that acquiring them will give you the character to succeed. Some years ago, I decided to read all the success literature published in the United States since its beginning in 1776 - hundreds of books, articles, and essays on self-improvement and popular psychology. I noticed a startling thing: Almost all the writings that helped build our country in its first 150 years or so identified character as the foundation of success. The literature of what we might call “The Character Ethic” helped Americans cultivate integrity, humility, fidelity, temperance, courage, justice, patience, industry, and the Golden Rule. Benjamin Franklin’s autobiography is a prime example. Compared with the early success literature, the writings of the last 50 years seem superficial to me - filled with social image consciousness, techniques, and quick fixes. There, the solutions derive not from the Character Ethic, but the Personality Ethic: Success is a function of public image, of attitudes and behaviors, of skills that lubricate the process of human interaction. I don’t say these skills are unimportant. But they are secondary. If there isn’t deep integrity and fundamental...
Words: 5094 - Pages: 21
...effective people. Fortunately, for those of us not born effective (no one is), these habits can be learned. Furthermore, the collective experience of the ages shows us that acquiring them will give you the character to succeed. Some years ago, I decided to read all the success literature published in the United States since its beginning in 1776 - hundreds of books, articles, and essays on self-improvement and popular psychology. I noticed a startling thing: Almost all the writings that helped build our country in its first 150 years or so identified character as the foundation of success. The literature of what we might call “The Character Ethic” helped Americans cultivate integrity, humility, fidelity, temperance, courage, justice, patience, industry, and the Golden Rule. Benjamin Franklin’s autobiography is a prime example. Compared with the early success literature, the writings of the last 50 years seem superficial to me - filled with social image consciousness, techniques, and quick fixes. There, the solutions derive not from the Character Ethic, but the Personality Ethic: Success is a function of public image, of attitudes and behaviors, of skills that lubricate the process of human interaction. I don’t say these skills are unimportant. But they are secondary. If there isn’t deep integrity and fundamental goodness behind what you...
Words: 5094 - Pages: 21
...------------------------------------------------- CHAPTER 2 FORMATION AND GROWTH OF INSURANCE INDUSTRY IN INDIA * INTRODUCTION * NATURE AND CHARACTER OF INSURANCE * NEED FOR INSURANCE * FUNCTIONS OF INSURANCE * HISTORICAL BACKGROUND OF INSURANCE * TYPES OF INSURANCE * HISTORY OF INSURANCE IN INDIA * Formation of Insurance Industry in India * Nationalization of Insurance Business in India * Privatization of Insurance Industry * LEGISLATIONS REGULATING THE INSURANCE SECTOR IN INDIA ------------------------------------------------- CHAPTER 2 FORMATION AND GROWTH OF INSURANCE INDUSTRY IN INDIA INTRODUCTION Insurance is a practice by which a company provides a guarantee of compensation for specified loss, damage, illness, or death in return for payment. Insurance is a social device, to reduce or eliminate risk of life and property. Under the plan of insurance, a large number of people associate themselves by sharing risk, attached to individual. The risks, which can be insured against include fire, the peril of sea, death, incident, & burglary. The aim of insurance is to protect the owner from a variety of risks which he anticipates. Insurance is actually a contract between two parties. A contract of insurance is a contract where one person undertakes to pay another person, a sum of money or its equivalent on the happening of a specified event. And there is an agreed consideration for such undertaking. The person who seeks this protection...
Words: 5317 - Pages: 22
...MIH514-Cross Cultural Perspectives 9/3/2013 Elizabeth Glasser Japanese Culture I am choosing to do my session long project on Japan. I think Japan is a very interesting and beautiful place. No other country in the world has experienced such a confluence of tradition, technology, and circumstance. Japan is the hub for cutting edge technology; it is the only country that has witnessed the wrath of the atomic bomb, and it has the most massive economy in the world. The Japanese have interesting and amazing traditions that have been passed on from generation to generation for thousands of years. Japanese people can be very modern but till hold onto traditions that have been passed on for centuries. They wear amazingly beautiful clothes, have interesting art techniques and have one the largest markets for music. Japan is also known for their Geisha girls, martial arts, and bizarre foods. Origins “The Japanese Archipelago includes more than 3,000 islands, covering a total area of 377,835 square kilometers. The four main islands, from north to south, are Hokkaido, Honshu, Shikoku, and Kyushu” (Szczepanski, n.d.). There is evidence that people inhabited Japan 30,000 years ago. According to Szczepanski (n.d.), these people were called Jomon and were hunter and gatherers who lived off the land. Japan first appears in the historical records of China in about 300 BC. There are many theories regarding the evolution of Japan. The most popular is that “Japanese...
Words: 10400 - Pages: 42
...Religions influence on American Democracy and it's effect on Globalization Abstract A person's religious beliefs greatly influence his or her ethical behaviors. According to reports, religion is one of the strongest motivators for individuals to exhibit ethical behaviors in all areas of their lives. Modern thought tends to see religion as one sphere of society, alongside politics, economics, science, family, morality and so on. There is much written about business and organizational ethics but there is little written about the behaviors that people display to demonstrate they are ethical humans. It is almost as if an organization is perceived as an entity capable of doing behaviors without the human element. Decisions within the corporate world are shaped not merely by ethical ideals but also by economic, social, political and legal constraints. Christian ethics, for most people, becomes the art of discerning the morally "more or less," the less than perfect "better or worse," in the myriad of trade-offs among competing values and interests. Modern thought tends to see religion as one sphere of society, alongside politics, economics, science, family, morality and so on. There is much written about business and organizational ethics but there is little written about the behaviors that people display to demonstrate they are ethical humans. It is almost as if an organization is perceived as an entity capable of doing behaviors without the human element. This...
Words: 7161 - Pages: 29
...Part 1: Defining Marketing and the Marketing Process (Chapters 1–2) Part 2: Understanding the Marketplace and Consumers (Chapters 3–6) Part 3: Designing a Customer-Driven Strategy and Mix (Chapters 7–17) Part 4: Extending Marketing (Chapters 18–20) After examining customerdriven marketing strategy, we now take a deeper look at the marketing mix: the tactical tools that marketers use to implement their strategies and deliver superior customer value. In this and the next chapter, we’ll study how companies develop and manage products and brands. Then, in the chapters that follow, we’ll look at pricing, distribution, and marketing communication tools. The product is usually the first and most basic marketing consideration. We start with a seemingly simple question: What is a product? As it turns out, the answer is not so simple. Chapter Preview 8 Products, Services, Building and Brands Customer Value Before starting into the chapter, let’s look at an interesting brand story. Marketing is all about building brands that connect deeply with customers. So, when you think about top brands, which ones pop up first? Perhaps traditional megabrands such as Coca-Cola, Nike, or McDonald’s come to mind. Or maybe a trendy tech brand such as Google or Facebook. But if we asked you to focus on sports entertainment, you’d probably name ESPN. When it comes to your life and sports, ESPN probably has it covered. W The ESPN Brand: Every Sport Possible—Now Television: From its original...
Words: 25125 - Pages: 101
...Glossary of HR terms For the benefit of human resources professionals, both new and seasoned, we present a Glossary of Terms. If, having read the Glossary, you feel that there are any omissions, then contact us . Absolute ratings A rating method where the rater assigns a specific value on a fixed scale to the behavior or performance of an individual instead of assigning ratings based on comparisons between other individuals. Affirmative action Also : Positive discrimination. Carried out on behalf of women and disadvantaged groups and members of such groups are placed in dominant positions. Appraisal See Performance planning. Attrition A term used to describe voluntary and involuntary terminations, deaths, and employee retirements that result in a reduction to the employer's physical workforce. Autocratic leadership Leader determines policy of the organization, instructs members what to do/make, subjective in approach, aloof and impersonal. Balanced Scorecard A popular strategic management concept developed in the early 1990's by Drs. Robert Kaplan and David Norton, the balanced scorecard is a management and measurement system which enables organizations to clarify their vision and strategy and translate them into action. The goal of the balanced scorecard is to tie business performance to organizational strategy by measuring results in four areas: financial performance, customer knowledge, internal business processes, and learning and growth. Behaviorally...
Words: 15364 - Pages: 62
...1970s From Wikipedia, the free encyclopedia Jump to: navigation, search "Seventies" redirects here. For decades comprising years 70–79 of other centuries, see List of decades. From left, clockwise: U.S. President Richard Nixon doing the V for Victory sign after his resignation from office after the Watergate scandal in 1974; Refugees aboard a US naval boat after the Fall of Saigon, leading to the end of the Vietnam War in 1975; The 1973 oil crisis put the nation of America in gridlock and caused economic damage throughout the developed world; Both the leaders of Israel and Egypt shake hands after the signing of the Camp David Accords in 1978; The 1970 Bhola cyclone kills an estimated 500,000 people in the densely populated Ganges Delta region of East Pakistan (which would become independent as Bangladesh in 1971) in November 1970; The Iranian Revolution of 1979 ousted Mohammad Reza Shah Pahlavi who was later replaced by an Islamic theocracy led by Ayatollah Khomeini; The popularity of the disco music genre peaked during the middle to late 1970s. Millennium: | 2nd millennium | Centuries: | 19th century – 20th century – 21st century | Decades: | 1940s 1950s 1960s – 1970s – 1980s 1990s 2000s | Years: | 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 | Categories: | Births – Deaths – ArchitectureEstablishments – Disestablishments | The 1970s, pronounced "the Nineteen Seventies", refers to a decade within the Gregorian calendar that began on January 1, 1970, and...
Words: 11872 - Pages: 48
...THE IDEAs WORKING PAPER SERIES Paper no. 01/2012 Fiscal Policy Evolution and Distributional Implications: The Indonesian experience Smitha Francis Abstract This paper analyses Indonesia’s resource mobilisation and public expenditure policies against the backdrop of her inequality trends and macroeconomic policy evolution. It is argued that the country’s fiscal policy stance has been adversely impacted by her monetary and financial sector policies under an open capital account, with attendant regressive distributional implications. Juxtaposing the analysis of revenue mobilisation trends and taxation policies with the evidence of increasing asset and land concentration and persisting high inequalities reveals that the increase in income tax revenue did not necessarily come from the upper income profiles or corporate profits. Meanwhile, although government expenditure to GDP ratio has improved after 2003, capital expenditures and social expenditures other than those in education continue to remain low. Further, the current pattern of fiscal decentralisation does not seem to be effective in addressing the existing disparities. JEL Classification H 200; H 500; H 700 Key Words Indonesia, fiscal policy, public finance, inequality, taxation, revenue, government expenditure, financial liberalisation, IMF debt conditionalities, decentralisation Smitha Francis is Principal Economist, Economic Research Foundation, New Delhi. Email for correspondence: smithafrancis@gmail.com ...
Words: 16175 - Pages: 65
