The Australian Financial Review Essay Example for Free

The Australian Financial Review Essay According to the Australian Financial Review (2013), Tesco has agreed to form a 20/80 joint venture with China Resource Enterprises. This initiative occurs in the light of the declining retail environment in Europe and aims to combine Tesco’s 134 Chinese branches with 2,986 outlets from the China Resources Vanguard business. This deal will provide a strong platform for Tesco to enter the Chinese market and establish market leadership by improving its offering for customers within the region. Application Tesco’s planned expansion in China is the direct result of the declining economic environment in Europe, which has lead to a dramatic shift in sociocultural spending patterns. This has impacted Tesco negatively as a 0. 2% reduction in European private consumption from 2007 to 2011 (Roxburgh 2012) saw a ? 1 billion decrease in Tesco’s European sector revenue from 2009 to 2011 (Tesco 2009; Tesco 2011). As a response, Tesco has initiated a strategic alliance with China Resource Enterprises in a bid to solidify its market position in China. This alliance greatly assists Tesco in overcoming cultural differences as Inkpen and Tsang (2005) explains that firms operating in culturally distant nations can leverage knowledge from local partners to better understand host markets. This is important as the UK and China are dissimilar in a multitude of cultural dimensions (Hofstede 1984). Through this alliance, Tesco can overcome its liability of foreignness by utilizing the existing brand reputation of its partner since 45% of Chinese consumers display a high level of brand loyalty (Magni and Atsmon 2012), prevalent in a long term orientation focused culture. This alliance furthermore allows Tesco to transform into a multi-format retailer (Australian Financial Review 2013), which is consistent with changing consumption preferences signified by the increasingly popularity of hypermarkets. This multi-purpose shopping location has subsequently become a staple for consumers with average growth rates of 20% per annum since 2003 (Herring et al. 2012). This changing sociocultural trend provides Tesco with a myriad of opportunities in China. Analysis Tesco’s expansion strategy in China will provide numerous opportunities for growth. This stems from a mixture of Chinese economic and regulatory factors which contribute to an increasingly consumption-driven demographic. According to Woetzel, Li and Cheng (2012), regulatory initiatives on raising minimum wage levels have already increased disposable income per capita by 19. 7% in 2012. This combined with financial reforms aimed at increasing market competition will help expand private sector activity, in turn boosting employment and accelerating household income growths by 9% per annum. As a result of improving economic conditions, Woetzel, Li and Cheng predict national consumption to rise by 8% per annum and increase threefold from 30,000RMB in 2012 to 92,000RMB in 2030. These consumption patterns provide a myriad of sale opportunities for Tesco. However these benefits are overshadowed by an aging population and a reduction in the available workforce. According to Atsmon et al. (2012), China is experiencing rising life expectancies and falling birth rates, and estimates the proportion of population over 65 will increase from 10% to 15% in the near future. This is problematic as Bongaarts (2004) states public pension benefits impose serious economic burdens on the working population and may lead to a rise in taxation. This factor is worsened by a reduction in the available working age population which according to Evans-Pritchard (2013) has already increased salaries by 16% annually in the past decade. This may increase Tesco’s operating costs, which will reduce profitability. Although faced with an ageing population, Woetzel, Li and Cheng (2012) reveal that increasing government subsidies towards social security could strengthen China’s safety net. This combined with increasing urbanization and a rising middle class will spur consumption, counteracting the effects of an ageing population. Golley and Meng (2011) also provide evidence against labour shortages in China and state there is still an abundance of under-employed workers in rural regions. They argue unique Chinese institutions and policies have restricted migration into cities and regulatory reforms can see migrant workers double from 150 to 300 million, thereby negating significant salary increases. Corporate Social Responsibility and Sustainability Tesco has recently introduced a variety of sustainability and ethical sourcing initiatives, reflecting an increased commitment towards CSR. However these programs were only initiated after negative publicity generated by Friends of Earth (2005), which accused Tesco of using their market power to reduce supplier prices and operating energy intensive facilities. According to Becker-Olsen et al. (2006), this is a reactive rather than proactive strategy and confirms Piacentini et al. ’s (2000) study, which exposed that being recognized as a socially responsible company was the main reason food retailers adopt CSR rather than philanthropic reasons. Consequently, Tesco’s CSR initiatives can only be classified as a CSR grasp on Freeman and Hasnaoui’s (2010) continuum as they are merely strategies that ensure competitiveness. Although superficial, these CSR initiatives do however set standards for competitors and can encourage future CSR advancements as firms compete to be recognized as the most socially responsible retailer. Reference list Atsmon, Y. , Magni, M. , Li, L. , and Liao, W. 2012, Meet the 2020 Chinese Consumer, McKinsey Company, China, viewed 4 October 2013, Becker-Olsen, K. L. , Cudmore, B. A. , Hill, R. P. 2006, ‘The impact of perceived corporate social responsibility on consumer behavior’, Journal of Business Research, Vol. 59, no. 1, pp. 46-53. Bongaarts, J. 2004, ‘Population aging and the rising cost of public pensions’, Population and Development Review, Vol. 30, no. 1, pp. 1-23. Evans- Pritchard, A. 2013, ‘Shortage of workers to halt Chinas growth’, Sydney Morning Herald, 6 February, p. 6. Freeman, I. and Hasnaoui, A. 2010, ‘A four-nation study of the meaning of corporate social Responsibility’, Proceedings from the 7th Congres de l’Aderse, March 2010. La Rochelle, France. Friends of Earth 2005, The Tesco Takeover, Friends of Earth, London, viewed 5 October 2013, Golley, J. , Meng, X. 2011, ‘Has China run out of surplus labour? ’, China Economic Review, Vol. 22 no. 4, pp. 555-572. Herring, L. , Hui, D. , Morgan, P. , Tufft, C. 2012, Inside China’s hypermarkets: Past and prospects, McKinsey Company, China, viewed 4 October 2013, Hofstede, G. 1984, ‘Cultural dimensions in management and planning’, Asia Pacific journal of management, Vol. 1 no. 2, pp. 81-99. Inkpen, A. C. , Tsang, E. W. 2005, ‘Social capital, networks, and knowledge transfer’, Academy of management review, Vol. 30, no. 1, pp. 146-165. Magni, M. Atsmon, Y. 2012, ‘Wooing the Fickle Chinese Consumer’, Harvard Business Review, February, viewed 5 October 2013, Piacentini, M. , MacFadyen, L. , Eadie, D. 2000, ‘Corporate social responsibility in food retailing’, International Journal of Retail Distribution Management, Vol. 28, no. 11, pp. 459-469. Roxburgh, C. , Labaye, E. , Thompson, F. , Tacke, T. , Kauffman, D. 2012, Investing in growth: Europes next challenge, McKinsey Company, viewed 4 October 2013, Tesco 2009, Annual Report and Financial Statements 2009, Tesco, Cheshunt, viewed 5 October 2013, Tesco 2011, Annual Report and Financial Statements 2011, Tesco, Cheshunt, viewed 5 October 2013, The Australian Financial Review. 2013, ‘Tesco to form venture with Chinese retail giant’, The Australian Financial Review, 2 October, viewed 4 October 2013, Woetzel, J. , Li, X. L. , Cheng, W. 2013, What’s next for China? , McKinsey Company, China, viewed 4 October 2013,

Fascism - Alternative Approach Essay -- essays research papers

Fascism. The name of this movement alone provokes thoughts of hate, racism and evil throughout all modern western civilizations. Never before has one word created such a cultural taboo for nearly two generations. As a people, we immediately think of Fascism as Hitler’s methodical destruction of nearly six million Jews during World War II, but as a movement, there is so much more to be learned. It is the aim of this paper to accurately and without judgement look at Fascism from its creation to modern day applications. Benito Mussolini was catapulted into power in 1919 after helping create and naming his movement Fascism. Italian Fascism began on the left but stressed the dire need for strong nationalism with an urgency to industrialize. His style prized violence, idealism and anti-materialism, bonding him with the plight of the socialists of the time. As time went on in Italy, Mussolini merged with many modern corporations, luring him further and further to the right. Benito’s vision of Fascism facilitated national liberation, and racism was never his political nor personal goal. Many of Mussolini’s top aids and elite were Jews prior to his alliance with Hitler in 1937. In 1932 Mussolini wrote a lengthy definition of Fascism for the Italian Encyclopedia. This work shows exactly what it was Mussolini believed he was doing, creating a new wave of change. The definition is lengthy and often repetitive, however it is absolutely essential to the understanding of fundamental fascism t hat some of its points be explained and discussed herein. "Fascism, the more it considers and observes the future and the development of humanity quite apart from political considerations of the moment, believes neither in the possibility nor the utility of perpetual peace. War alone brings up to its highest tension all human energy and puts the stamp of nobility upon the peoples who have courage to meet it. All other trials are substitutes, which never really put men into the position where they have to make the great decision -- the alternative of life or death.... " This paragraph alone explains the reasons for nearly all modern wars in this century. Mussolini’s founding ideal was that of struggle. He believed war to be the climax of human emotion, believing that peace was not, an... ...bsp;In France, the primarily Fascist party led by Jean-Marie Le Pen gained 29% of the vote. This excerpt not only applies to France, but to conditions that will continue to rise throughout the world. Whenever a group of people go unheard, unrest immediately occurs. What follows unrest is the willingness to be apart of something that will lead you somewhere great. The rising popularity of Fascism is not due to a change in man’s thinking, but due to nations not listening to their people. Thousands of "skinheads" march through the streets of Germany waiting for a time when they will once again stake their claim for the world. It is only a matter of time before the comfort and discipline Fascism offers becomes a reality in the world. Benito Mussolini believed in the power of state and corporate becoming one to best represent the needs of the people. The time has come for the ordinary people of the world to declare what they desire to be known as next, before the choi ce is made for them. Whoever fights monsters should see to it that in the process he does not become a monster. And when you look long into an abyss, the abyss also looks into you." — Friedrich Nietzsche

Internation Recruitment and Selection Essay

The world has been rapidly transforming due to the changes in technology, innovations, and the reduction of trade barriers into and out of countries which have permitted globalization. Due to globalization human resource management has been forced to take a more international approach, and has demonstrated that a more effective management of human resources internationally is imperative for the success of companies in international business (Shen). Therefore international organizations need to understand the roll that plays the international human resource management (IHRM) department, and the importance of adopting an effective recruiting, selecting, and training strategies that will enable the company to select the right talent for the right places. IHRM plays a very important and challenging roll in the international setting of organizations because â€Å"they must develop practices which will maintain congruence with the overall strategic plan of their respective multinational c orporations, while balancing the economic, social, political, and legal constraints of the host countries† (Caligiuri). Companies understand that the only way to develop strong and successful global leaders, which are keys to competitive advantage, is through an IHRM department that has a well develop competitive strategy in place. Multinational Corporations (MNCs) like Unilever and Huawei Technologies Co., a Chinese networking and telecommunications supplier, have understood the importance of a well develop IHRM department and have implemented strategies that are aligned with a global approach that support the business operation worldwide (Gartsdie). Based on Heenan and Perlmutter model there are four competitive strategies as well as different training alternatives for global assignees that MNCs can use to develop a successful IHRM approach. The recruitment and selection (staffing) policies which MNCs implement for their foreign subsidiaries will vary greatly for every company, and should be determine accordingly with the IHRM approach the organization is pursuing (Ball). MNCs can be divided in four types based on their management approach and corporate philosophy. The first approach a MNC may consider is the ethnocentric approach which is â€Å"characterized by low pressures for cost reduction and low pressures for local responsiveness† (Ball). Ethnocentric MNCs are not willing to give up the control over foreign subsidiaries, and prefer to place expatriates employees belonging to the home country of the firm, in all key management positions abroad. IHRMs departments that adopt this approach believe that expatriates are more capable than employees of the host country, and they expect that their expatriate managers transfer headquarters’ culture and philosophy to the host nationals (Caligiuri). This approach is normally used by MNCs with primarily international strategic orientations in the early stages of globalization. The advantage of an ethnocentric approach is that it expands the experience of expatriates and prepares them for high level management positions who execute strategic decisions from headquarters. Many expatriates adapt, learn the language, and perform effectively within the host country (Ball). However data suggest that there is a high turnover rate among expatriates because many of them do not have the special set of skills, characteristics, and abilities (e.g. tolerance of ambiguity, adjust quickly, empathy, actively manage social contacts) that are required to be successful in such position (Caligiuri). Because of the previous statement it is imperative that MNCs understand that facilitating proper training and development to the expatriate is a very important part of the IHRM department because it has a major impact on the effectiveness of the expatriate manager and â€Å"research has shown that cross-cultural training is an effective intervention to prevent expatriate failures† (Deller). However MNCs today face a big problem because studies show that only fifty percent of all expatriates receive adequate training (Deller). Another very important aspect to the IHRM department needs to consider when selecting the right candidate under this approach is to keep in mind the impact in the family of the expatriate. The family’s willingness and ability to adjust is of crucial importance for the assignee’s employer and it needs to be address during the staffing process as well. Another disadvantage for this approach is that is more costly for the corporation because it has to offer more incentives to the expatriate (Deller). In the selection process it is the responsibility of the IHRM department to evaluate the efficiency and cross-cultural proficiency of the candidates to ensure the success of this approach. The polycentric staffing policy is a second approach that can be implemented by IHRM departments of MNCs. Under this approach the human resource department will look for host country nationals (HNC) to manage subsidiaries in their own country with some coordination form headquarters (Ball). With this approach IHRM departments do not need to worry about looking for certain skills or characteristics for an international setting because the candidates are employed at the subsidiary level and they do not have language and culture barriers, labor turnover reduces, productivity increase, there are ideal information of industry, legal and political configuration, and the first cost of employing them is less expensive. Also using this approach makes the subsidiary looks less foreign (Caligiuri). However the problem with hiring HCNs is that they are not familiar with the home country of the international company and with its corporate culture, policies, and practices (Ball). The underlying crisis in communication and control between the headquarters and the subsidiary due to language barriers, conflicting national loyalties and differences in personal values may create an inconsistency in the strategic management process that will result in the subsidiary operating as a separate unit. Home country national’s lack of exposure to international assignments and lack of career mobility among HCNs are also some disadvantages of this approach and ultimately will affect the competitive advantage of the MNC (Padala). According to the article of Jie Shein, â€Å"HCNs are included in management development schemes only at the subsidiary level and HCN managers are rarely promoted to senior management positions† (663). When staffing under this approach IHRM departments can choose from hiring HCNs in the home country or HCNs in the host country. Many MNCs have experienced difficulties in hiring high caliber of HCNs managers because of the lack of long-term IHRM planning and training and ineffective international management development (Shen). When the polycentric staffing approach is not adequate the regiocentric staffing approach might be a better option. The regiocentric staffing approach can be used for companies with a regional strategic approach. In this approach employees are selected for key positions within the region the subsidiary is operating, employing a variety of HCNs and third country nationals, TCNs (Ball). From this perspective the communication and integration systems must be highly sophisticated for headquarters to maintain control over the regions however the host national are given the opportunity to manage their own subsidiaries. The likelihood of HNCs career advancement is greater within the region, but still limited in headquarters (Caligiuri). The training and development for this approach are the same as with the polycentric staffing approach. One of the biggest advantages of this approach is that it serves as a bridge for MNCs to gradually move to a geocentric staffing approach. The geocentric staffing approach is used in companies with a transnational strategic orientation. This staffing approach seeks the best people for key jobs throughout the organization, regardless of nationality, selecting the best person for the job, irrespective of nationality is most consistent with the underlying philosophy of a global corporation (Padala). This approach is ideal because the human resource strategy will be the same across all subsidiaries, using the best practices from wherever they might be found across the MNC worldwide networking of operations (Ball). However one of the drawbacks of this approach is that it can be expensive to implement because of increased training, compensations packages, and relocations costs, and it could require longer lead time (Padala). IHRM staffing approaches are very important but training and development also play a very important role in the international setting. International training and development is one of IHRM’s most crucial activities. While it is true that MNCs recognize the significance of international training and development for their employees there is knowledge that this corporation’s training strategies are weak and not effective. Current researches show that today the majority of companies have ineffective training and management policies that have resulted in frequently employee failure (Shen). In order to succeed in the global arena MNCs need to implement an effective international training and development program for expatriates, HCNs, and TCNs. Globalization has definitely created a very competitive business market in which international human resource management plays a crucial role for the success on multinational corporations. It is imperative that corporation carefully analyze every staffing approach available and implement the one that will help them select the right candidates for the right position, and provide the candidates with the appropriate training and development in order to create a competitive advantage. Works Cited Ball, A. Don, et al. International Business: The Challenge of Global Competition. 13th. New York: McGraw-Hill. Print. Caligiuri, Paula M., Linda K. Stroh. Multinational corporation strategies and international human resources practices: bringing IHRM to the bottom line. The International Journal of Human Resource Management 6:3 September 1995. P.494-498. Deller, Juergen. International Human Resource Management And the Formation of Cross-Cultural Competence. Institute of Business Psychology, University of Lueneburg, Germany. International Management Review. Vol.2 No. 3. 2006. Gartside, David, Griccioli, Stefano, and Rustin Richburg. Different stokes: How to manage a global workforce. Issue No.2. 2011. Outlook. Accenture. . Padala, Shanmukha Rao Dr.; Dr. N.V.S. Suryanarayana. Approaches to International Human Resource Management. September 11, 2012. Articlebase.com. . Shen, Jie. International training and management development: theory and reality. Journal of Management Development. Vol 24 No. 7, 2005. November 2, 2012.

Rules for the First Week in College

Your first week in college is one youve likely been looking forward to for a long, long time. That first college week, however, can be gone in an instant -- and if youre not careful, some of the choices you make during those critical few days can lead to major problems later. Just keep these 10 rules for your first week in college in mind ... and have fun! Dont Hook Up Its smart to give yourself (at least) a one-week delay before hooking up. Its much easier to regret not hooking up than it is to regret it -- and have to face the person every day -- for the next 4 years. Just give yourself a little time to get your bearings before doing anything you might unknowingly regret later. Dont Start a Relationship Youre at college to learn, explore, try new things, and overall challenge yourself. Starting a relationship right off the bat may hamper some of the flexibility youll need. Is it a good idea to start a relationship? Of course, if its a healthy one. Is it a good idea to do it during your first few days on campus? Maybe not. If this person is the love of your life, can you wait a few weeks? Of course. Go to Class Hmmm ... no one takes attendance, you were up super late, and theres somewhere else on campus youd rather be this morning. Think twice before skipping class, however; its much more crucial for you to go to class in college, and the first week is especially important if you want to meet other students, have the professor know you, and not get dropped because you didnt show while others are on a waitlist. Get the Basics Done During orientation, you probably have a long list of stuff to do: Get an ID card, set up your email/campus login, meet your adviser. Skipping on these to-dos is a definite bad idea during your first week. After all, if you think youre busy now, imagine how much harder doing these items will be once your classes are in full swing -- and youre behind. Make Sure Your Financial Aid is in Good Shape If the financial aid office needs a copy of something, you have a question about your loans, or you need to sign some documents, make sure your tush makes it to the financial aid office sooner rather than later. Doing so is much easier than having to explain to your parents that youve been kicked out of school because you lost your financial aid due to a technical glitch. Get Your Books and Readers ASAP You dont necessarily have to buy them from the campus bookstore -- there are lots of other options available -- but you do have to get them. And quickly. College classes move much faster than high school ones, so staying on top of the reading is incredibly important. Get a Job if You Need One There is x number of students and y number of jobs. You dont need to be a math major to realize that the sooner you start looking (and applying), the better your options -- and choices -- will be. Watch Your Alcohol Intake As most folks know, alcohol is pretty readily available in college, even for the under-21 crowd. Be smart with the choices you make around alcohol, both for your dignity and your own safety. Get Your Classes Set You may be wait-listed on some classes or registered for too many because you arent sure what you want to keep. Either way, make sure your class schedule is set as soon as possible, that you finalize the paperwork before the add/drop deadline, and that the units youre carrying are enough to maintain your financial aid. Start the Semester Off with Good Eating Habits It sounds so minor, but eating healthy in college really can make a difference. Besides helping you avoid the legendary Freshman 15, eating healthy as soon as you arrive can keep your immune system up, give you the energy you need, and help set great habits for the next few years of your college life.