A Financial Analysis Of 3m Finance Essay - Free Essay Example

Sample details Pages: 17 Words: 4975 Downloads: 10 Date added: 2017/06/26 Category Finance Essay Type Analytical essay Did you like this example? Currently, 3M operates in more than 65 countries. The company produces a large variety of products, such as: adhesives, abrasives, laminates, passive fire protection, dental products, electronic materials, electronic circuits and optical films. 3M started operating on the North Shore of Lake Superior in Two Harbors, Minnesota in 1902. Don’t waste time! Our writers will create an original "A Financial Analysis Of 3m Finance Essay" essay for you Create order Five businessmen (Henry S. Bryan, Hermon W. Cable, John Dwan, William A. McGonagle, Dr. J. Danley Budd) came together to mine a mineral deposit used for manufacturing grinding-wheels. As it turned out, the deposit didnt have much of a value, so they opted to concentrate on sandpaper products. In 1914, 3M launched its first exclusive product: Three-M-ite cloth. Few other innovative products followed: waterproof sandpaper, masking tape, and the very well known Scotch brand tape. In 1929, 3M decided to expand its business internationally and started operating in Europe. The same year, the companys stock was first traded over the counter. In 1946 the company went public on the New York Stock Exchange (ticker symbol MMM). The company is a component of the Dow Jones Industrial Average and of the SP 500.  [1] 1.2 Company Profile 3M Company is an American transnational enterprise based in Maplewood, Minnesota, and represents one of the major players in the conglomerate industry. Below are presented some of the highlights that compose the companys profile: 3M Co.  [2] 3-M Center St Paul, MN  55144-1000 Index Membership: Dow Jones Composite Dow Industrials SP 100 SP 500 SP 1500 Super Comp Sector: Conglomerates Industry: Conglomerates Employees (last reported count): 74,835 1.2.1 Organizational Structure 3Ms general offices and research laboratories are located in St. Paul, Minnesota. Locally, 3M has nine sales offices and operates 74 manufacturing facilities. Outside the United State, 3M has 148 sales offices and 93 manufacturing .3M owns all of its physical properties.  [3] Key Executive: Bellow, there are presented few of the key people that are currently running this enterprise: Mr. George W. Buckley, Chairman, Chief Executive Officer and President Mr. Patrick D. Campbell, Chief Financial Officer and Senior VP Mr. Inge G. Thulin, Executive VP of International Operations Mr. Brad T. Sauer, Executive VP of Health Care Business Mr. Jean Lobey, Executive VP of Safety Security Protection Services Business.  [4] 2. Major lines of business  [5] 3M serves its customers through six business segments: 1. Consumer and Office (15% of total sales). 3M is providing its customers with a large variety of products such as house cleaning materials and office supplies. Some of the most popular ones are: Post-it ®, Scotch ®, Scotch-Brite ®, FiltreteÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¾Ãƒâ€šÃ‚ ¢, O-Cel-OÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¾Ãƒâ€šÃ‚ ¢, NexcareÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¾Ãƒâ€šÃ‚ ¢, and CommandÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¾Ãƒâ€šÃ‚ ¢ 2. Display and Graphics (13.5%). As a top technological innovator, 3M provides its customers with products such as: display enhancement films; reflective materials, graphics, and projection systems. 3. Electro and Communications (9.8%). Due to its continuous innovative efforts, 3M managed to provide solutions for customers in many fields: electrical, electronics and communications. They contribute to reliable sources of electrical power, high-performance electronic devices, and reliable, high sp eeds telecommunications network. 4. Health Care (18.6%). 3M is considered a global leader in medical and oral care products, drug delivery and health information systems, providing its customers with innovative and trustful products that help care professionals improve the quality of care services. 5. Industrial and Transportation (30.8%) The company supplies a large variety of innovative products such as tapes, abrasives, adhesives, specialty materials and filtration systems to different markets: from automotive to aerospace to renewable energy to electronics. 6. Safety, Security and Protection Services (13.8%). 3Mproducts-personal protective equipment, safety and security products, substantially contribute to the safety, security and productivity of people, facilities and systems around the world. 1.3 Operating Strategies 1.3.1 Mission Statements and Management Objectives: The main mission statement and management objectives, as presented in the companys annual report are: Demonstrate uncompromised honesty and integrity in all activities and relationships. Promote individual initiative , innovation and leadership, Establish and maintain a culture dominated by fairness and trust, where respect and responsibility, are valued and recognized. Create a safe workplace for 3M employees. Satisfy customers with high quality products and services. Provide investors with an attractive return. Respect the social and physical environment worldwide. 1.3.2 Business model and Strategies 3M business model is based on the ability to not only develop unique products, but also to manufacture them efficiently and consistently around the world (3M).   [6] 3M is a diversified technology enterprise with an international presence in different businesses, such as: industrial and transportation, healthcare, display and graphics, consumer and office, safety, security and protection services, and electro and communications. The industrial and transportation business includes products such as food and beverage, personal care, and automobiles. Industrial products include polyester, foil, and tape. Transportation sector provides the market with different types of insulation components and catalytic converters. The health care segment produces supplies and equipment for medical and dental use. The display and office business supplies stationary products, and home-improvement products. Besides the already mentioned business sections, 3M also manages a safety segment and an ele ctro and communications segment. In order to remain a respected leader in its field, 3M employs a series of strategies. The company is continuously trying to increasing market share and the popularity of their brands. Also they make significant efforts to maintain existing customers and attract new ones. This is a very important issue considering the number of substitute products currently available on the market. Besides the already mentioned strategies that 3M employs in order to run a successful business, they also practice a very interesting hedging strategy .Instead of concentrating on a single industry, 3M operations are spread over a large variety of sectors. So, at any point in time, the effect of a slow growth sector is counteracted by the prosperity of another sector. Due to this hedging strategy, the company stock price manages to maintain relative stability.  [7] Also, they continue to spend significant amount of funds on RD, which is critical for their image as a leading innovator, pay dividends, buy back stock and raise shareholders equity, the chief aim being the ability to offer a good return to all their investors. This is a solid company, with a very high degree of liquidity in an extremely good financial health. Another strategy that makes 3M well known is there acquisition strategies. On an average, the company performs ten to twenty acquisitions every year. This enables 3M to continuously grow, penetrate new markets and explore new technologies. Other strategies that 3M employs refer to continuous innovation, in order to introduce new products to various markets that company operate in, gaining market share in the existing markets and aiming to become more and more important to the end customers. 1.4 SWOT Analysis SWOT is a strategic planning method used to evaluate the strengths, weaknesses, opportunities and threats involved in a business.  [8] 3M SWOT analysis:  [9] Strengths: The company operates in a large variety of business sectors: industrial and transportation, healthcare, display and graphics, consumer and office, safety, security and protection service, electro and communication. Strong research and development capabilities. (According to 3M 2009 Annual Report, the company spent more than a billion dollars in RD). Multinational presence. The company operates more than 65 countries. Solid financial condition. (A complete Income Statement and Balance Sheet are presented in the annexes). Weaknesses: Low inventory turnover, which impacts inventories and margins. Some key segments are registering inferior performance. Strong and aggressive competitors. Opportunities: Acquisitions in key operating areas. 3M performs an average of 20 acquisitions e very year. Continued global expansion. Healthcare spending levels in the US are increasing. Security concerns caused by a weak US economy, combined with some unfortunate events that are threatening the safety of American people, (9/11/2001, N1H1 virus infection) brings new opportunities for 3M security business. Threats: The fluctuation of commodity and energy prices (increasing).In order to mitigate this risk, the company is engaging in a multitude of forward physical contracts and price agreements. Exchange rates fluctuations. The company operates worldwide, so the exchange rates and any fluctuations of it may negatively impact the companys results. Environmental regulations. People are becoming more and more aware of the importance of respecting the environment. Any new rules and regulation may require additional funds to be invested in order to work green. 1.5 Core competencies A core competence represents the companys collective knowledge about how to coordinate diverse production skills and technologies (C.K. Prahalad and Gary Hamel).  [10] 3M runs an extremely diversified business, spread over numerous sectors: industrial, transportation, display and graphics, security etc. In order to manage and keep all this different types of businesses together, the company holds competencies in substrate, coating and adhesives. Besides possessing these competencies, the company also created a multitude of ways to share and apply them. The result of such combination of technology, skills and knowledge, allows 3M to participate on a multitude of businesses and markets. The literature points out that the core competencies of any company should benefit the end customer of the product and should be very difficult to copy by the competitors. 3M is aware that the stronger the customer perception in recognizing the superiority of their products, the less likely th e threats of substitutes. The company makes continuous efforts to differentiate its products among the multitude of similarities offered by the competitors and their efforts are successful due to the fact that they are supplying high quality, innovative and reliable products at competitive prices. Moreover, it is a companys core competencies that keeps the businesses together. This aspect is crucial for 3M, as the company operates in multiple business sectors, worldwide. It seems that 3M fully understood this concept and its enormous advantages, because they are investing consistently in their core competencies and ability to innovate, the chief aim being to provide the market and the end customers with innovative products that really stand out. 2. Industry analysis 2.1 Industry Definition, Structure and Major Competitors. The Industrial Conglomerate industry consists of large organizations engaged in multiple business lines within the industrial sector, where at least two business lines comprise a substantial portion of the companys total operation (The New York Times, Oct 1, 2010).  [11]  The industrial conglomerate industry contains the following sectors: Basic Materials, Consumer Cyclical, Consumer Non-Cyclical Energy, Health care, Industrials and Transportation, Technology, Telecommunication, Utilities. Exhibit1. Direct Competitor Comparison  [12] MMM AVY DD JNJ Industry Market Cap: 63.58B 4.02B 42.30B 174.16B 9.47B Employees: 74,835 31,300 58,000 115,500 28.26K Qtrly Rev Growth (yoy): 17.70% 15.40% 21.80% 0.60% 14.50% Revenue (ttm): 25.39B 6.31B 30.43B 62.59B 10.28B Gross Margin (ttm): 48.78% 28.26% 29.94% 69.98% 33.80% EBITDA (ttm): 7.03B 695.10M 5.42B 19.70B 1.63B Operating Margin (ttm): 23.18% 6.96% 13.08% 26.90% 12.29% Net Income (ttm): 3.94B 250.90M 3.13B 13.53B N/A EPS (ttm): 5.48 2.37 3.43 4.84 1.92 P/E (ttm): 16.28 16.04 13.60 13.06 19.15 PEG (5 yr expected): 1.28 1.44 1.61 2.09 1.28 P/S (ttm): 2.50 0.63 1.38 2.78 1.27 AVY = Avery Dennison Corporation produces pressure-sensitive materials, office products, tickets, tags, labels, and other converted products. DD = EI DuPont de Nemours Co. (DuPont) operates as a science and technology company worldwide. JNJ =Johnson Johnson engages in the research and development, manufacture, and sale of various products in the health care field worldwide. The com pany operates in three segments: Consumer, Pharmaceutical, and Medical Devices and Diagnostics. Industry = Conglomerates Exhibit2. Comparison between 3M, the Conglomerate Industry and the direct competitors, benchmarked against DOW and SP 500. Source: https://finance.yahoo.com 2.2 Industry profitability and growth. In order to get an idea about the main characteristics of the players in this industry, I have selected few key statistics. The financial indicators listed bellow shows the fact that this are large companies, highly leveraged (most of them), providing the investors with a small to average return. Market Capitalization: 366B Price / Earnings: 13.5 Price / Book: 4.1 Net Profit Margin: 7.5% Price to Free Cash Flow: 27.4 Return on Equity: 12.5% Total Debt / Equity: 242.3 Dividend Yield: 2.4% Exhibit 3. Comparison between the evolution of 3M common stock and the industry. Source: https://finance.yahoo.com 2.3 PEST Analysis of the External Factors affecting the Industry PEST analysis stands for Political, Economic, Social, and Technological analysis and describes a framework of macro-environmental factors used in the environmental scanning component of strategic management.  [13]  Performing such an analysis and applying the findings will give any company a significant competitive advantage. The model identifies four factors that have a major impact on the companys macroeconomic environment:  [14] Political Economical Social Technological Political Factors: Among the most significant political factors that can affect 3Ms business are: tax policies, employment laws, environmental regulations, trade restrictions and tariffs, and political stability. 3M is making all the necessary investments in order to comply with these laws. In 2009, 3M spent around $15 million for projects regarding the protection of the environment. The mentioned funds have provided among other things, pollution control devices at all its properties. Economical Factors: economic growth, interest rates, exchange rates, inflation rate. Due to large geographical presence, and the fact that 63 percent of its revenue is generated from outside the United States, the companys results may be affected by exchange rates and their fluctuation. In order to mitigate this risk, the company engages in a multitude of forward contracts. Also, the Companys business may be negatively affected by other factors, both internal and external that are beyond its control, such as instability and downturns in financial markets or economies in some countries or regions, in which the Company operates. Social Factors: population growth rate, age distribution, health and safety awareness, career attitude. 3M, through its business policies is aiming to create a safe workplace, to encourage individual initiative and innovation in an atmosphere of flexibility, cooperation and trust, promoting a culture where promise keeping, fairness, respect and pers onal accountability are valued, encouraged and recognized.  [15] Technological Factors: RD activities, automation, technology incentives, rate of technological change. Research and development activities constitute an important part of 3Ms business and have been a significant contributor to the companys sales growth. Research, development expenses accounted for $1.2 billion in 2009, $1.4 billion in 2008 and $1.3 billion in 2007.  [16] 2.4 Porters Five Forces Analysis of the Industry Competition Porters five forces is a framework for the industry analysis developed by Michael E. Porter of Harvard Business School in 1979 .The model is based on the idea that competitive advantage came from the ability to earn a return on investment that was better than the average for the industry sector(Thurlby,1998). The model identifies five forces which would impact on an organizations behavior in a competitive market: The rivalry between existing sellers in the market. The threat of new entrants on the market. The threat of substitute products available in the market The bargaining power of the suppliers. The power of the customers in the market. Full comprehensions of each of these five forces and the impact they have on the companys business, provide organizations with the necessary information to enable them to choose the right operating strategy in order to be successful in their market.  [17] 2.4.1. The rivalry between existing sellers in the market The conglomerate industry, although very complex, extending over a multitude of business, seems to be dominated by few key players, and 3M Co is one of them. In order to gain competitive advantage, 3M is aiming to stay ahead of the trend by continuously providing the market with new products and technologies. Given its strong balance sheet, the company is able to react fast to any negative changes in the market (lower the price of its products), in order to maintain existing customers and attract new ones. Moreover, in facing competition the company is offering well differentiated products, well known and trustful brands, the chief aim being extra value added products and services for the end customers. 2.4.2. The Threat of new entrants The threat of new entrants is dictated by the market entry barriers. The entry barriers exist whenever it is difficult or not economically feasible for an outsider to replicate the incumbents position (Porter, 1980b; Sanderson, 1998). Such barrier s refer to: Cost of entry: In order to enter this industry and compete against the existing firms, the cost of capital required would be extremely high. 3M is a well known company, with an aggressive mergers and acquisition strategy, holding an impressive market share. Distribution channels: 3M products are sold through numerous distribution channels, including wholesalers, retailers, and dealers in many countries around the world. The company has established a large and very well defined distribution network, developed through long association with skilled marketing and sales representatives. Cost advantages not related to the size of the company, like contacts and expertise play a major role in the companys performance. Government legislations: for example, introduction of new laws might weaken companys competitive position; 3M had to improve their environmental performance via new environmental, health and safety policies in order to comply with new government standar d and regulations. Many times this requires additional funds, changes into production processes, products, and that some firms may find it difficult to do so without increasing the prices of their products and services. Differentiation: 3M is a well known brand that already gained customer respect and loyalty and the products that represent this company have a high ratio of value to price. 2.4. 3. The Threat of Substitutes Products available on the market Although the threat of substitutes in this sector is high, due to the fact that there is a large number of a substitute product available in the market, 3M products differentiate themselves through superior quality and innovativeness. The firm invests strongly in RD, in order to insure that they deliver extra -added value products, and the existing customers will not be tempted to choose from the many available substitutes. Other aspects that should be considered when trying to mitigate the risk of losing customers to subs titute products refer to: relative price performance of substitute, buyer switching costs, ease of substitution, substandard product, and quality depreciation. 2.4.4. The bargaining power of suppliers In the conglomerate industry, the power of supplier is relatively modest, due to the fact that the companies in this industry are very large corporations. This companies act on an international scale, having access to an increase number of suppliers and the buying is done in bulk, immense quantities. There is still some risk regarding the price fluctuation of commodities, like oil, oil derivatives, energy, due to possible shortage. 3M is trying to mitigate this risk engaging in prices agreements and forward physical contracts. 2.4.5. The bargaining power of buyers. When trying to assess the power of buyers, two aspects need to be considered: size and concentration of the customers correlated with the concentration of the competitors. In the conglomerate industry, the bargai ning power of the buyers is relatively high due to the fact that all the players in the market are targeting the same customers via similar products. Also, the end customers are more and more informed, and their expectations are continuously growing. Another aspect that should be considered in this case is that the cost of switching between suppliers is relatively low. A buyer has many options; therefore 3M makes a continuous effort to insure that their products are permanently aligned with customer preferences and needs. 2.5 Summary The nature of competition in an industry is strongly affected by the above mentioned forces. As a rule we can state that, whenever buyers and suppliers have high degrees of power, the result translates into a high competitive industry. The industry of conglomerate is moderate to high competitiveness, due to the fact that new entries are difficult (high capital requirements), but this effect is counteracted by the fact that the players in this sector are extremely large and diversified corporations, with solid resources and very aggressive financial strategies. 3. Economic Outlook 3.1 Global Outlook There is no doubt that we are on the path of economical recovery, but the speed of things moving in the right direction is slow, considering the severity of the financial crisis. In advanced economies, such as U.S., small improvements in labor markets, housing markets, and corporate bonds market generated some positive developments in the overall economy. In the emerging and developing economies, (such as China, India, and Brazil) the recovery process seems to be much faster. Even among the advanced economies, the recovery process happens at different speeds, depending of the way that the local government has chosen to deal with the crisis. If we compare The United States with Europe or Japan, we see that the American economy is doing much better than the other two. This phenomenon may have something to do with some of the following: fiscal stimulus was larger in US, the nonfinancial corporate sector is less reliant on bank credit, bond markets have improved which stimulated inv estments, and many financial and nonfinancial organizations went radical restructuration and improved productivity. In Japan, due to the appreciation of the yen, the countrys exports feel dramatically, which ultimately impacts the recovery process. Similar situation can be observed in Europe. Some of the economies of this region suffered a major contraction, not only because of the financial crisis, but the real estate too. Overall the economical and financial conditions present themselves as fragile and difficult. There are some signs of recovery, especially in the emerging economies, and is expected that this will help along the recovery process of the advanced economies.  [18] 3.2 Regional outlook Asia is leading the global recovery and the regions contribution to global growth will continue to exceed that of other regions in the next two years, (Source: The International Monetary Fund). China registered 8.4 percent growth last year, and the projections for the next year are similar (9%growth in GDP for 2010). In the region, the GDP has increased 6.8 percent in 2009. The recovery process has been driven by exports combined with low internal demand and ultimately low household consumption. The inflow of capital in the region has increased, stimulating investments and speeding up the recovery process. According to IMF, for the next period of time, Asias main policy challenge will remain to achieve a rebalancing of growth from external to domestic sources. On global level, there is a political and economical issue regarding the Chinese government decision not to appreciate their local currency, and the way this decision is affecting the world trade. Europe, especially the emerging nations, was strongly hit by the financial crisis. In this region the GDP decreased by approximately 4.6 percent in 2009. The projections for 2010 GDP show an increase of 2.3 and 2.2 percent in 2011. The growth rates in most economies in the region will remain slow, due to major contraction in exports and weak capital inflow. Besides the already mentioned factors, other variables such as : high unemployment, real estate crisis, bank restructuring operations, tight credit policies, and high interest rates will also restrain the recovery process. Other regions, such as Latin America and the Caribbean seem to be dealing with the crisis a little bit better than other countries .The last year GDP registered a 2.6 percent drop, and the prognosis for 2010 and 2011 are quite optimistic showing a growth of 3.1 percent and 3.6 percent, respectively. The recovery process is still relatively slow, due to weaker investment and not enough tourism, both important sources of external f inances. The lack of tourism may be explained by high unemployment in United States and other high-income countries. The Middle East and North Africa region experienced, an overall GDP growth slowing to 2.9 percent in 2009. The forecasts for 2010 show an increase in GDP of 3.7 percent in 2010 and 4.4 percent by 2011. These projections regarding the recovery process are based on few assumptions such as: the global demand for oil will increase, and oil prices will stabilize. The financial and economical crisis and their effects were not felt as deep in the region of South Asia. In this area, the GDP registered 5.7 percent growth in 2009. This represented a slowing of growth comparing to the boom period, mainly due to a significant decrease in investments, correlated with low domestic demand. The projections for 2010 and 2011 look optimistic: 6.9 and 7.4 percent respectively. 3.4 Local outlook According to the U.S. Bureau of Economic Analysis (BEA), the US economy is still growing, but at a slower pace than the first quarter of 2010(2.4% versus 3.7% in the first quarter of 2010). Some of the reasons that will restrain the recovery process are the following: The financial institution will need to recover from losses due to loan defaults. In order to boost the recovery process, the government offered numerous stimulus packages. The housing market registered slight improvements, but failed to meet the expectation. The main disruption in the housing sector was caused by a dramatic drop in house prices, and housing starts, which eventually caused an unbalance between demand and supply. As the credit crunch is ameliorating and the unemployment is falling we start to notice a slight improvement in the housing markets. National deficit is large. The state and local government are cutting down on their spending, the only exception being some of the programs aimed to help out households in periods of recession. Programs as such are: Unemployment Insurance Program and the Supplemental Nutrition Assistance Program (Food Stamp Program). Personal income and spending rose in the last year but not significantly. Unemployment is estimated to be 9% for 2010 and continuing to slowly decline from there on. Saving rate also climbed, meaning that the people are still cautious. Household are still dealing with the loss of wealth, relatively tight credit policies and unemployment. Consumer sentiment is better, but lower then thought. Massive equity loss is dampening households consumption. Overall, US economic reports point to a slow growth and the fact that there is still uncertainty. Nevertheless the general belief is that the economy is on the path to recovery, as the worst has passed.  [19] 4. Ten year pro forma forecast In order to forecast 3Ms sales for the next ten years I have taken into consideration the following aspects: Overview of the global, regional and local economic outlook. 3Ms Sales risk factors  [20] Analysis of the companys historical data Underlying Assumptions The previous chapter offers a comprehensive description of the general state of the economy, on both international and national level. At company level, in order to attempt an accurate sale forecast, we have to consider the following risks that can affect the revenue: Companys results are impacted by worldwide economical conditions. The Company operates in more than 65 countries, and therefore the Companys business may be negatively affected by both, internal and external factors, some of them, beyond the companys control: instable financial markets or decline in economic activity in some of the countries or industries in which the Company operates. Foreign currency exchange rates and their fluctua tion may also have a negative impact on the Companys revenue. Because the Companys financial statements are denominated in U.S. dollars and 63 percent of the Companys revenue is coming from outside the United States, the Companys results could be negatively affected if the U.S. dollar appreciates significantly against foreign currencies. The Companys growth objectives are strongly influenced by the timing and market response to its new products, and also the capacity to continually supply the market with innovative and high quality products. The Companys future revenues are influenced by the price and availability of purchased components, raw materials, energy and all other resources that the company needs for everyday operations. Acquisitions, strategic alliances, and all other possible organizational restructuring could affect the companys future revenues. The Companys future revenues may be affected by different laws, rules and regulations regarding product liability, antitrust, or environmental protection. Next step is an analysis of the companys historical data. A complete Income Statement and Balance Sheet for the period under analysis are presented in the annexes. Exhibit4. 3M Sales and Cost of Sales. Historical data And finally, in order to produce the pro forma statements, we would have to base our findings on some underlying assumptions: No disruptions or major economical, financial and political downturns in US and internationally. No shortage in raw material and other components. The company is trying to mitigate this risk by engaging in price agreements and physical future contracts. It is difficult to predict such a shortage and the effects that this would have on the companys results. US economy slowly improving. The worse is over, but there is still uncertainty ahead. Interest rate, tax rate remain constant COGS constant (52% of Sales). Exhibit5. Sales and Cost of Sales Forecast Exhibit6. 3MSales and Cost of sales Starting with 2008 the company has undergone radical restructuring, giving up some activities and also performing certain product moves between its business segments. This was done to ensure perfect allignment with the needs of customers and markets under the curent conditions.Such actions resulted in 64000 people loosing their job in the attempt of cutting costs in order to overcome tough economic challenges.  [21] The financial tsunami, started to significantly affect 3M businees in the third quarter of 2008, resulting in a negative sale growth rate of 8%. As overall economy is improving, 3Ms sales are climbing, but the growth rate remains modest. According to the 2009 Annual Report, the focus for 2010 is to accelerate growt, and gain market share. Due to the the current conditions 3M is presented with the opportunity to continue this strategy and even increase investments in order to gain market share from the competitors. The company has the ability to finance its gr owth with internal funds and therefore is not dependent on external resources that might be diffcult to obtain, and posibly costly too. Mergers and acquisition activities play an important role in the projected growth rate(g), therefore we could state that (g) behaves in the same manner as a step function would. The companys organic growth standalone is relatively modest, but together with acquisition( 10 to 20 acquisition per year), the company delivers an acceptable growth rate. (aproximately 8% yearly , in normal condition. This rate also reflects acquisitions activities). A stronger US economy, will eventually cause the strenghtening of the US dollars(2013-2014). As the company s financial statements are denominated in US dollars, and 63%of its revenue its coming from outside US, this will have a slightly negative impact on the total revenues . The company is employing various hedging strategies in order to reduse the risk of foreign currency fluctuation rates (future cont racts). Starting with 2016, I anticipate visible and sustainable signs of recovery, and by 2018, the company will be reaching the same growth rate it had in 2007, before the major economical and financial crisis hit.

Tolerance A Lost Value - 819 Words

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Social Responsibility with Company Q free essay sample

Social Responsibility within Company Q ? Social Responsibility within Company Q Daniel R. Beckerman Western Governors University WGU Student #000322976 For any given business, the greatest potential for revenue growth can be found through a mix of focusing on providing for the shareholders, as well as thinking of the stakeholders as a whole. This means focusing past short term profits and creating a plan that demonstrates a measure of social responsibility. Business reputation goes a long way towards creating how large a company’s customer base is going to be, and giving the appearance of not caring about the community can lead to a loss of customers and a loss of additional revenue in the long run. Focusing purely on the current bottom line may provide a short term boost to profits, but as a poor reputation spreads, the loss can only continue to compound. According to Ferrell (2013), four levels of social responsibility exist, these being economic, legal, ethical, and philanthropic (p. 39). Any business must focus on the bottom line in part to succeed, but ethical practices and philanthropic attitudes can help make one business stand out among a litany of businesses all offering similar, or even identical, products. ? ? Company Q is an example of a company focusing largely on the current bottom line, while ignoring the long term potential of practicing social responsibility and philanthropic work. Two stores were closed due to losing money from operating in high crime areas, while other stores began to sell high margin items. These are products that fit a certain niche in certain markets, no doubt helping to boost local revenue in the more high class areas, but without appeal in lower income neighborhoods. A worry over lost revenue and fraud lead to the decision to not donate day-old products to the local food bank. Employees could potentially steal food, claiming to be taking those products with them to donate. All of these practices are sound ideas when focusing on a pure economic market free from social influence or swings from changes in reputation. In the real world, however, even giving up a small portion of revenue can boost a company’s reputation and lead to greater spending on the part of the consumer, bringing in the long term profits that benefit not just the shareholders, but all stakeholders involved in the company. ? ? One of the first issues the company should analyze is the decision to close down stores in high crime areas. While theft and low income consumers bring the possibility of providing only moderate revenue gains, if not a loss, operating in impoverished areas can also be a source of growing potential for the business. Many companies advertise philanthropic missions, such as donating to charities every year or helping to provide for the families of their employees. While these are messages that consumers hear, a more powerful message can be the one that the consumers themselves see. Rather than closing down those stores, Company Q should focus on the reasons for the high crime, and offer ways to reduce that crime rate. Offering work programs that help prepare young people for management or skilled positions is a good way to take crime off of the streets while showing to the community that the business cares about the welfare of the population. This can help bring in a group of potential profit earners for the company while at the same time reducing crime in the stores and the surrounding neighborhood. The improved reputation could only serve to bring in shoppers who are more prone to visit the larger and cheaper chains such as Walmart. While this will incur immediate liability costs as the plan is enacted, the end result benefiting the shareholders is a cheaply trained future leadership staff, an improved reputation for the company as a whole, and a long term boost in the number of shoppers who visit their stores. The choice to focus on high margin items in all of their stores is another area that should be addressed. Consumer demand influences the products that businesses choose to sell, but demand is variable based on location and the income levels of the surrounding area. Poorer neighborhoods will not show an appreciation for shelves stocked with high priced items, while wealthier areas can be more interested in upper-value products. Meeting the demands of a specific area, rather than adding those high-margin items to every store, is a way to show the community that the business is there to cater to their needs. Part of demonstrating social responsibility within a business is to show that the business is really listening to the consumer and the needs of the neighborhood. Finding low priced alternatives for brand name items and selling those in the lower neighborhood markets can give the appearance of being an affordable, caring chain. Similarly, stocking shelves with brand names and items that fit the expensive tastes of more upper class neighborhoods shows that the business is ready to meet the demands and cater to the upper income spenders as well. What remains important is to differentiate the company’s product lineup based on location and needs of the local consumers. ? ? One of the easiest ways to show that a business cares about social responsibility and the community is to be willing to provide for that community, even at a loss to revenue. While it may appear that revenue is being sacrificed for the greater good, the reality is that the increased reputation can lead to greater consumer spending, turning a revenue expenditure into a profit. An educated shareholder will understand that a short term expense is oftentimes necessary for long term gains. Company Q’s decision to throw away day old product shows a lack of understanding regarding short term cost versus long term gain. Day old product is written off as a loss for the company. Should an employee take it for themselves under the guise of donating to charity, there’s the possibility of that employee then not spending money on goods the business sells that he or she might have otherwise purchased. The loss for this would be extremely minimal, barely a fraction of the company’s needed revenue to justify that store’s location. Recognizing the potential for minimal loss through fraud but choosing to donate to charity anyway shows an act of social responsibility that can greatly boost a company’s reputation. The community is most likely to see a company that is willing to throw away profit if it means helping those in need, not everyone recognizing that the food is already chalked up as a loss. The perception of a company that is looking out for the community can not only boost consumer spending, but also has the potential to reduce crime within the company as those who steal may see those locations as places that should be protected within the community for the charitable work being done. Any loss from a minimal percentage of employee fraud should be allowed for the sake of actively engaging in the welfare of the community. The poor will know where the donated food comes from, and those who can afford to shop at the store are more likely to over choosing another company. ? ? Company Q stands to benefit from a strong reputation and a varied product line. To see these benefits, the focus needs to remain on benefiting the community at large and meeting the needs of each individual location. Crime can be reduced within the store by helping provide for the community and offering opportunities to help people work their way off the streets. Consumer spending can be increased by meeting the demands of the area while helping those who cannot afford to spend money on the goods the company sells. Any company would be wise to remember that quite often it is the poor who succeed later in life and become a company’s biggest investors. A focus on those in need is something that helps a company’s reputation for years to come, boosting profits in both the poorest neighborhoods and the wealthiest. Company Q benefits from having multiple active locations in place in varying income locations. Should the focus be on meeting the economic, legal, ethical, and philanthropic requirements of social responsibility, the company stands to be a responsible, reputable, and very profitable company. References Ferrell, O. C. Business Ethics 2009 Update: Ethical Decision Making and Cases. 7th Edition. South-Western, 2013. VitalBook file. Bookshelf. 17 March 2014

Supply Mgmt Case Studies Essay Example

Supply Mgmt Case Studies Essay What are the most likely benefits of forming strategic supply alliances with Sunspots key suppliers? A strategic alliance between Sunspot and its key suppliers will result in a relationship based on trust. Its key for both parties to develop and manage this Institutional trust or the alliance will fall. Trust will facilitate communication which will lead to less errors and higher quality, faster development times, and lower costs. Synergies created by alliances result in reductions of direct and indirect costs associated with labor, machinery, materials, and overhead. Other benefits are reduced time to market, improved technology flow from suppliers, and Improved continuity of supply. With strategic alliances, all parties have a stake In the success of Sunspots business. Instructor Comments: 2. What are the disadvantages or risks of such alliances? Alliances are a resource- intense approach to supply management with several disadvantages or risks. Theres a danger the supplier will act in an opportunistic manner over time; perhaps Sunspots electronic systems dont allow for optimum Information sharing and communication with its suppliers. Mr.. Bart Lyons will have to ensure he has a supply manager who is trained in managing alliance partnershipsif not, the alliance will fail. Sunspot will have to accept added risk associated with reducing the supply base. Both the supplier and buyer need be aligned In what their ultimate customer considers valuable and In their respective villous thus able to make long term commitments to each other. Sunspot must determine if the benefits of an alliance outweigh the effort, risk. And resources required. 3. How can these disadvantages be offset? We will write a custom essay sample on Supply Mgmt Case Studies specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Supply Mgmt Case Studies specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Supply Mgmt Case Studies specifically for you FOR ONLY $16.38 $13.9/page Hire Writer The three most important factors in a successful buyer-supplier relationship are two- way communication; the suppliers responsiveness to supply managements needs; and clear product specifications. To offset the risk and/or disadvantages actions can be taken to appoint an inter-film team that receives guidance and training in the implementation of practices. Additionally, the firms can develop a communication system that addresses risks and rewards openly. They can take actions to develop and measure trust, as well as, use negotiation as a trust-building opportunity. Addressing the risk and disadvantages early will aid in the success of the relationship and both firms. Case u y e revel 1. Discuss the basic inventory problem confronting this firm. Mrs.. Glass made the decision to reduce cost by reducing inventories without considering the problems it would cause for other functions. This created a shortage of inventory causing increased cost by using air freight to meet demand while keeping the companys commitment to the customer for prompt delivery. 2. Air freight bills keep growing both in numbers and in total dollar value of freight reinserted. What are the factors that have contributed to the development of this situation? Do they reflect efficient or inefficient management of supply, inventories, and production in firms such as this one? Discuss. Air freight bills keep growing because of the lack of inventory on hand to run a complete production. One factor contributing to this situation is the companys promise of prompt delivery without regard to what the companys actual capability is. Another includes decisions being made by one department without consideration of the how it would affect the entire Hahn or timely information on sales forecasts. It appears the company has not yet found an organizational structure and governance process that will allow the supply chain to function effectively and efficiently. Additionally, prior to this meeting it seems there was no cross-functional approach to supply management. Decisions are being made without team synergy, input from all affected functions, and effective problem resolution. As materials gain in importance, becoming a larger proportion of the cost of goods sold, issues such as inflated inventories, poor quality, material tock-outs, long lead times, and miscommunication provide the impetus for a movement to capture control of materials under one individual. This gave rise to the materials management approach to structuring the material portion of an organization. 3. What should Joan Glass do? Joan must start with the basics of setting up the materials management organization to provide an integrated systems approach to the coordination of materials activities and the control of total material costs. She also needs to evolve the supply chain management structure to encompass the planning and management of all activities involved in forecasting, sourcing, and procurement and all incoming logistics management activities. It will create integrated processes throughout the organization. Setting up a cross functional team will address many supply management related activities. In addition, policy will need to be established to ensure all parties know their respective roles and expected involvement. Snouts Glass suggest a materials manager Absolutely, she should suggest a materials manager to have control and responsibility for the purchasing, planning and scheduling, transportation, and warehousing functions. This will optimize the performance of the materials system resulting in improvements in inventory levels, customer service, and communications, ultimately improving the bottom line. However, she must also suggest organizing the cross-functional team so the materials manager will have broader information to make smarter decisions. 5. Should Glass build up her inventories? Considering the facts known in this case, she should first determine if process improvements would resolve the issue prior to accepting additional cost of larger inventories. There are several areas to consider with regard to process improvements. The traffic manager stated that Joan spreads the small orders so he can never find a way to consolidate them to get volume rates. There is probably a more efficient way to combine the small orders know that Joan knows the issues. He also stated he is having problems with outgoing shipments. He could probably negotiate with the transportation company on incoming and outgoing shipments which could also lower air freight costs. The marketing manager is promising customers prompt delivery but has he thought to promise what the actual capability is and many customers might accept that. Joan needs access to earlier sales forecasts. There may be a way for her to get real time access. By building up her inventory, Joan has not resolved the issues. I believe she should consider the many areas of process improvements shown in this case. Case Study #3 Pacific Healthcare 1. What alternatives should Barney Rubble consider when addressing the problem? Since Mr.. Howell had control over the supplier selection, it suggests that the company has a decentralized purchase authority policy. Mr.. Rubble should consider if centralized or decentralized authority is best for the company. Additionally, Mr.. Rubble must consider the total cost. If he stays with Kodak, then he benefits from the maintenance and service discount. If he chooses competitive bids from different sources, then he must find another company to perform the services. If he chooses to negotiate with Kodak, he could try for a lower total cost with a more attractive procurement situation. Mr.. Rubble will need to analysis the cost, benefits, and risks involved with all situations. Finally, Mr.. Rubble should make decisions based off of Pacific Healthcare supply strategy for medical supplies to obtain the highest quality tit the best service at the lowest overall cost. 2 Snouts Pascals supply polices allow Tort any meal star personnel to control sourcing decisions? There are advantages and disadvantages of decentralized purchasing authority. One Justification for decentralized purchasing authority is the purchase of unethical odds and ends which the X-ray film may fall into that category. However, partial decentralization of purchases may be the solution. Mr.. Rubble could change the policy so that he is involved in all sourcing decisions but allow the medical staff to do the actual purchasing. By using the cross-functional team concept, all parties can have input and make better purchasing decisions. 3. What are the advantages and disadvantages of staying with Kodak or changing suppliers? How would you evaluate these? By staying with Kodak, the price and quality is higher and the company benefits from the maintenance and service discount. By changing suppliers, the cost would be lower but an additional requirement for maintenance and service will need to be fulfilled. On the surface it would appear that competitive bidding could fill the requirement however I believe estimations is the best option since the maintenance and service will also be required. Pacific Heathers objective is to find a single-source supplier for a one year contract. Mr.. Rubbles market research should show not only the quality and costs of the film but the service and maintenance quality and costs as well. If Kodak ends up being the best value meeting the companys supply strategy and objectives, then he should pursue a long term alliance. 4. What action could Mr.. Rubble have taken prior to Mr.. Howls death to obtain reduced film prices? Mr.. Rubble could have encouraged top management to establish a better policy on the purchasing authority. He could have created cross- functional teams to better understand the departments sourcing concerns, as well as, ensured collaboration and buy in. Supply managers cannot forget their internal customers. Mr.. Rubble could have also taken advantage of Mr.. Howls long standing relationship with Kodak to open the doors for negotiation. Case Study #4 The Case of the Sleeping Dogs 1. Is it an ethical problem for a supply manager to buy something he or she knows is ad for the environment, or to avoid buying something known to be environmentally safe?

Restaurant Case Study Research Paper Example

Restaurant Case Study Research Paper Example Restaurant Case Study Paper Restaurant Case Study Paper Kabab-ji Restaurant Case Study How do customers judge the quality of a restaurant? 1- By friendly and pleasant staff , helpful and knowledgeable people about the products and services they provide. 2- By restaurant hygienic and menu well presented 3- Freshness of the goods used by customers which served in restaurant Customer satisfaction. a. The price, quickness of service, and atmosphere of a restaurant affect restaurant customer satisfaction. In addition of that quality of both food and service are the most important factors satisfy customer. Forecasting. b. estaurant using forecasting for placing purchase orders for food, and supplies. For example restaurateurs often use forecasting to estimate the necessary purchase quantities of various food-related items. Capacity planning c. capacity planning how efficient restaurant use of resources to provide satisfactory service levels to users and attain success. For example number of tables and seating capacity also the number of meals served per day. In addition to that the efficiency on the handling schedule difficulties , product mix and quality factors such as ( facilities, products, service process and human resources ). Location d. A choice of location is one of main factor impact on the success or failure of the restaurant. There is a surrounding factors could impact such as the demographics. kababji prefer to situate its branches at strategic locations, primarily in high traffic locales on main roads with easy access to major residential areas Inventory management . e. Inventory management is one of responsibilities a good restaurant manager is do . most of managers are doing weekly inventory. Which are counting every single item that comes in kitchen week after week , in order to find ways to control the costs and finding out which food is being used or waste so that you can order just the right amount next time. Layout f. Physical layout of and architectural design of the restaurant play a role in business success or failure . Design success of restaurants lead to operational efficiencies. However design failure lead to operational inefficiencies. Scheduling g. For a restaurant operation scheduling is essential. It helps to control and handle thing in a way to be ensure that all part of operation have the help they need to run smoothly. Scheduling is a crucial way to anticipate the daily sales and control of labor and be ensure to meet the most important goal of restaurant which is guest satisfaction. 3- What are some of the ways Kabab-ji links strategy and operations to gain an edge over its competition? kababjis aim is a long term brand building strategy focused on creating a loyal and sustainable customer base. it supports franchises and includes support, operational training and design, launch, and operational manual

Brewing Beer at the White House - First Homebrewer President

Brewing Beer at the White House - First Homebrewer President Lots of American presidents enjoyed their booze, and many brewed their own beer. George Washington was well known as a  home brewer and made  his own porter and whiskey at Mount Vernon. Thomas Jefferson did the same thing at  Monticello. But  the first American president known to have brewed his own beer on the grounds of the White House in  Washington, D.C. was Barack Obama, who made porter and ale beginning in his first term. As far as we know the White House Honey Brown Ale is the first alcohol brewed or distilled on the White House grounds, wrote  Sam Kass, the White House senior policy adviser on  nutrition  policy, in September 2012. George Washington brewed beer and distilled whiskey at Mount Vernon and Thomas Jefferson made wine but theres no evidence that any beer has been brewed in the White House. Obama as Home Brewer Obama began brewing beer in 2011 after the president bought his first home-brewing kit. He started brewing beer because he was in search of a hobby, according  to  published reports. Shortly after his home-brewing activities were made public, the  American Homebrewers Association made Obama a lifetime member. Though beer has long been part of the country’s history and traditions, Obama made history when, as president, he purchased a homebrewing kit and then - alongside chef Kass - spearheaded the effort to brew White House Honey Ale, the first beer known to have been brewed in the White House, the association wrote. About the Obama White House Beer The Obama staff made at least three difference styles of beer: a brown ale, a porter, and a blonde ale. All three were brewed with honey that was drawn from a beehive on the South Lawn of the White House. The honey gives the beer a rich aroma and a nice finish but it doesnt sweeten it, the White House said of the ingredient. The names of the  Obama White House beers were: White House Honey Brown AleWhite House Honey PorterWhite House Honey Blonde When Obama ran for a second term in  the 2012 presidential election, he  stocked his campaign buses with the White House brews. While  the White House brewed  the beer, it did not market or sell the beer publicly. It did,  however, publish the recipes for likeminded home brewers to try. Both the brown ale and honey porter were given good marks by fellow home brewers. Remarked Ray Daniels, in an interview with Bloomberg Businessweek:  Ã¢â‚¬Å"They are both pretty malty and on the sweeter side of the scale in overall balance. That will certainly make them crowd pleasers or at least unobjectionable to a broad range of people.† Wrote critic Gary Dzen in The Boston Globe: The White House knew what they were doing when they brewed this beer. Its approachable enough to serve to casual beer enthusiasts but flavorful enough to be interesting to those of us who know what we want our beer to taste like. Why Beer for Obama Obama is a beer drinker who was known to invite members of Congress and other important figures in American politics to the White House to talk and quaff a brew or two. In 2009, for example, Obama called what came to be known as a beer summit between himself,  Vice President Joe Biden, Harvard professor Henry Louis Gates Jr., and Cambridge, Mass. police Sergeant James Crowley.  Obama invited the men to the White House to talk over beers after police in Crowleys force arrested  Gates at his home.

Global Education Workshop, Part 2 Assignment Example | Topics and Well Written Essays - 1750 words

Global Education Workshop, Part 2 - Assignment Example The objective of the workshop conducted entails the latest approaches of multicultural as well as global education. Furthermore, the objective of the workshop also entails the application as well as the evaluation of various scholarly journals for the purpose of comparing global and multicultural education. As noted in Part 1 of the Workshop Project., the requirements reflect the need for planning lesson tools particularly for the teachers, educators, community members and the children (Altbach, Reisberg & Rumbley, 2009). The lesson planning tools inculcates presentation method. The children will be provided with a brief understanding related to global education by using presentation methods. In relation to one of the objectives of workshop 1 that stated the need of scholarly journals reflects the need and feasibility of the presentation method. The lesson planning tool will include plan board, core planner and the plan book (Kharbach, 2012). Thus, these entail the requirements for f raming the lesson planning tools for the intended audiences. Logical and Comprehensive Design Document That Governs the Conduct of the Project The conducted workshop reflects the study linked with global education. It incorporates the possibilities that the global education opens for the new generation children in the form of students. The following aspects depict a detailed outline about a logical as well as a comprehensive design document that would govern a smooth conduct of the workshop project. Target Group Accordingly, vital target group entails the community members, educators and the school leaders. This workshop has been conducted to provide the school leaders, educators and the community members a wider view about the aspect concerning global education and its approaches. Furthermore, knowledge with regard to global education enlightens the targeted audiences about gaining a better idea concerning the importance of global education. Duration of the Workshop The duration of the workshop can be of 9 hours conducted for a single day only. Objectives The overall goals of the workshop are to discuss and provide a wider view with respect to the possibilities that global education provides better knowledge to the new generation children. Furthermore, it aims at providing a brief view with regard to the approaches needed to enable the students towards attaining a better and a clear idea about the globalized world. Moreover, the workshop also intends to provide a better understanding about the different targets of global education to the new generation of children concerning sustainability, conflict prevention and executing education particularly for any sort of peaceful purpose. Comparison between multicultural and global education also forms the objective of the workshop. Furthermore, the workshop also throws light upon the requirement of global education and need of leadership within the K12 environment. In accordance with the workshop that has been conduc ted, the project entails the details about the institutions that serve as a dais with respect to global education. In relation to this particular workshop, it is to be stated that the workshop tends to provide the learners a superior understanding with respect to education that must be conducted globally and determine the role of the teachers in enhancing learning capabilities of students along with the educators. It can be affirmed

The Life of Women and Minorities in the Old West Assignment

The Life of Women and Minorities in the Old West - Assignment Example The assignment "The Life of Women and Minorities in the Old West" analyzes the life of women and minorities in the Old West. The Chinese left their homelands and came in big numbers. They faced hardships, discrimination, but fought back to set right unjust laws. They labored and contributed in the building of the Unites States, especially California in a big way. The Hispanics figure intrinsically in almost every segment of America’s activity be it political, military, economy, social or sports. The Hispanics have worked for America, fought wars for America and even played for America. The Native Americans were the original settlers in America. They were fierce, warlike tribes and held no fascination for the white invaders who came in droves with devastating weapons. There were conflicts in which the brave natives were massacred. Most of them live in their own colonies even now. The Wild West conjures up images of large ranches in rolling, pristine landscapes with cowboys moun ted on horses galloping around without a care in the world. It also makes one think of men facing each other gun in hand, ready to shoot it out. Lawlessness is another aspect that got blown out of proportion. Although some of these aspects might have existed, they were not allowed to continue unobtrusively. Judges, sheriffs, and marshals were duly dispatched to usher in law and order. The nation of America has grown due to the heroic efforts of its citizens. There are others who died to face harsh conditions in the Gold Rush.

Second World War Essay Example for Free

Second World War Essay The First World War was truly a significant event in history. The tension that began in Europe evolved into a global conflict which lasted for four long years. The war claimed the lives of both soldiers and civilians, and resulted in the massive destruction of property. After the war ended, the countries involved undertook measures which sought to avoid another global conflict. One of those measures was the drafting of several peace settlements, including the Versailles Treaty. This agreement punished Germany and made it solely responsible for the occurrence of the war. Unfortunately, the treaty caused bitterness from the Germans and paved the way for another world war to occur. Coincidentally, it was the Second World War which resolved the unaddressed issues of the first Great War. Indeed, the Versailles Treaty caused the occurrence of the Second World War, which ended the problems of the First World War. The Versailles Treaty considered Germany to be the only nation liable to the occurrence of the First World War. It must be noted that Germany did initiate the establishment of the alliance system, which guaranteed increased conflict in Europe (Perry, 1989). As an outcome of its triumph in the Franco-Prussian War, Germany acquired the provinces of Alsace and Lorraine. In an attempt to secure these former French territories and prevent France from regaining them, the Chancellor of Germany Otto von Bismarck allied with Italy and Austria-Hungary. Germany continued its aggression after Bismarck was removed from office. When William II assumed the throne, Germany demanded more territory and began to increase its naval strength. However, Germany was not the only nation to blame for the First World War. In fact, Serbia was responsible for starting the war. It was a shooting incident which triggered the widespread conflict: a Serbian named Gavrilo Princip shot Archduke Francis Ferdinand of Austria-Hungary and his wife (Heyman, 1997). Austria sought to attack Serbia in return, and turned to Germany for assistance. Hence, the starting point of the First World War was the conflict between Austria and Serbia (Perry, 1989). The end of the First World War brought about several attempts at the restoration of peace, but it was prevented by intentions of the affected parties. Prior to the end of the First World War, U.  S. President Woodrow Wilson had already drafted a program for peace which he presented in Congress through the â€Å"Fourteen Points† speech (Perry, 1989). One of the major points he suggested in his speech was â€Å"peace without victory† (as cited in Perry, 1989, p. 647). Wilson wanted the other countries to practice fairness towards Germany, for he thought that severely penalizing the nation would only force it to avenge their losses. He simply wanted a fair settlement which would guarantee improved foreign relations between the victors and the defeated countries. Unfortunately, Wilson’s hopes ran against the bitter feelings which were developed during the war. The European Allies suffered massive losses, which in turn caused hatred between countries. Among all Allies, France was most affected by the First World War; majority of the battles which happened in the western front took place in French territory. While more than three million French citizens were wounded, more than a million French soldiers died in the war. Hence, it was to be expected that France desired severe punishment for Germany and sought to be compensated for its damaged properties (Perry, 1989). The Versailles Treaty did not guarantee fair treatment towards Germany, as it imposed harsh sanctions on the defeated nation. The settlement was evidently disadvantageous for Germany; it was created to decrease their power and territory. The treaty was beneficial for France; not only did it regain Alsace-Lorraine, but it also obtained control over the Saar coal mines (Halsall, 1944). Germany also lost territory to Poland and Britain (Perry, 1989). In addition, the Versailles treaty significantly reduced the military capability of Germany. The agreement required the German army to be limited to 100,000 people, all of which were to be volunteers (Halsall, 1944). Germany was also asked to demilitarize their territories in both sides of Rhine River. More importantly, the treaty demanded Germany to pay other nations due to the damages which resulted from the war. Germany was supposed to pay $33 billion worth of reparations, an amount only determined two years after the nation signed the treaty (Perry, 1989). In general, the Versailles Treaty blamed Germany for the First World War and severely punished it as a result. Consequently, the Germans were angered by the conditions of the Versailles Treaty and provoked them to start yet another world war. Germany was enraged by the demands for reparations; they thought that the amount given for them to pay exceeded the nation’s financial capacity (Perry, 1989). Germans also disagreed with treaty on grounds of being solely responsible for the outcome of the war. They upheld the belief that Germany must not be singled out, for all the nations involved in the war must be held accountable for its consequences. After the First World War, Germany became a part of the League of Nations, the organization which was created for the purpose of developing peace and cooperation between countries. The country also participated in other postwar activities directed at maintaining peace. Despite these efforts, majority of the Germans were still not ready for peace. Most of them remained bitter towards the Versailles Treaty. The animosity was derived from humiliation after defeat; after all, the settlement disarmed their nation, reduced their territories and required them to pay a great sum (Bergen, 2002). The Weimar government attempted to modify the treaty through peaceful means. When Adolf Hitler came into power, he completely undermined the Versailles Treaty (Perry, 1989). With Hitler as leader, Germany violated the Versailles Treaty and started the path to the Second World War. Hitler quickly broke the conditions of the treaty; he disregarded the limitations imposed on the country. He immediately increased the army to 550,000 men and rearmed it (Sulzberger, 1985). Hitler also sent troops in Rhineland; this action was clearly a violation of the demilitarization in the area as demanded in the treaty. In what seemed to be a response to the loss of lands due to the Versailles Treaty, Hitler sought to expand German territory by uniting all German-speaking people (Sulzberger, 1985). All of the aforementioned aggressive acts committed by Hitler sparked another global conflict and eventually resulted in what everybody feared: the Second World War. Ironically, the problems of the First World War were resolved by the Second World War. One of the problems of the Great War was self-determination, the principle wherein national groups choose their own political state (Perry, 1989). The reason behind Archduke Ferdinand’s assassination was the Serbs’ desire to unite all Slavic peoples. President Wilson included the principle of self-determination in his â€Å"Fourteen Points,† yet it proved to be problematic. Hitler even used the principle to invade other countries. After the Second World War, self-determination was no longer proposed. Instead, the Atlantic Charter drafted by U. S. President Franklin D. Roosevelt and British Prime Minister Winston Churchill proposed the self-government to peoples. Meanwhile, the restoration of peace was also a dilemma after the First World War. The nations tried to restore peace through various peace settlements, including the Versailles Treaty. However, the treaty exacerbated the war problem. After the Second World War, there was already an international organization established to maintain peace among countries. Rather than make individual peace treaties to each Axis power, the Allied countries sought peace as the United Nations. This move proved to be more effective in restoring global peace and order (Perry, 1989). The First World War was a genuinely significant experience. The armed conflict was caused and characterized by tension, so there were many efforts to avoid yet another war from taking place. The Versailles Treaty was a peace settlement, but it did not contribute to the restoration of peace. Rather, it caused the Second World War by provoking Germany to seek revenge over its sanctions. Fortunately, with the occurrence of the Second World War, the problems of the Great War were settled.

Once there Was a Village :: essays research papers

The book, Once There Was a Village, written by Yuri Kapralov, is an autobiographical tale of his experiences living in the ethnically diverse East Village of New York City. The story takes place during the late 1960s and early 1970s and most of the events occur around Thompson Square Park-- the center of Alphabet City. Yuri Kapralov came to America after World War II, displaced from the Caucuses. He made the East Village home. In the book, he was adamant about what is the â€Å"East Village†. His description was west of Avenue A. He describes the ethnic composition as ever changing, but for the later part of the sixties, was mostly divided into Puerto Ricans, Russians, Polish, Blacks, and Bohemians; the bohemians were further divided into black-and-white couples, students, left-over beatniks and hippies. Kapralov describes how the area around Thompson Square Park and much of New York, during the late sixties and early seventies, became a dangerous place to call home. Crime was a daily occurrence brought on by the drug infestation and poverty typical of the location and era. People of the East Village were poor and disheartened by what they considered the New York Police Department’s lack of protection. In the late 1960s,although the East Village was overrun with crime, police officers were rarely seen east of First Avenue. Letters were written to the mayor and to newspapers requesting patrol officers in the area. The letters were either ignored or the authors were told the manpower was not available. Due to this situation, the Police become an object of hate. They never seemed to be there for protection against the ever recurrent muggings, robberies, and general violence against East Village citizens. The crime was so frequent that the residents began defending themselves with anything available and even resorted to buying illegal weapons. Many residents were caught with these illegally purchased weapons and arrested, further straining relations with law enforcement The summer of 1966 saw the climax of the antagonistic relationship with law enforcement and residents. There were street riots on Avenues C and B. Cars were burned, stores were robbed and people were killed. That evening, the area turned into a War Zone during the evening east of Avenue B. The community had many different views of the events. The Russian immigrants, who were deemed by the writer to be "more racist", saw the events as evident of the Black and Puerto Rican people acting "out of control" and the neighborhood "going to hell".

India adopting western culture Essay

Culture literal meaning is what how you cultivate or build oneself. Cult or build in multi-directionally i.e in ethically socially even in all aspects of that lead human development. Every culture is enriched with some good and bad features. Indian culture is rich and diverse and as a result unique in its very own way. Our manners, way of communicating with one another, etc are one of the important components of our culture. Even though we have accepted modern means of living, improved our lifestyle, our values and beliefs still remain unchanged. A person can change his way of clothing, way of eating and living but the rich values in a person always remains unchanged because they are deeply rooted within our hearts, mind, body and soul which we receive from our culture. Western culture can also be referred to as advanced culture; this is because its ideas and values promote the development and sustainment of advanced civilization. Western culture has had quite an influence in india but it has its pros & cons too. There are many good things in the western culture which we have adopted. But why do we see only the negatives? Even the Indian culture has influence the western world. the globe is shrinking & we are all getting closer to each other in many ways. so its very natural for us to adopt their ways & for them to adopt ours Western culture has affected almost every dimension of society. The core religious traditions are still the same but the life style differences can be found because of western culture. Hence we can say that western media has not affected the core traditions of indian society but has changed life style and apparent characteristics of the society. Conclusion: How there is head and tail for a coin there is both positive and negative impact of western culture and Indian Culture. I think both cultures are unique in their own way and equally good. Western culture and Indian culture both have good qualities and bad qualities. We should not think of which culture is better but should take the good qualities of both cultures and put it into use in our life  attribution.

Barriers To Parental Involvement

Significance of Parental Involvement to Student Achievement Education is one of the basic rights of a person and improving the state of education has become the priority for almost all nations. Innovations in teaching lessons such as the use of computers and multimedia became an established way in achieving quality education. However, improving the state of education does not solely rely on new technologies and better books or other utilities.Research done by the United States Department of Education in 1994 showed that parental involvement in a child’s learning can have greatly decrease drop-out rates in schools and have positive effects on a child’s achievement (Educational Resources Information Center, 1998, p. 1). Involvement of parents can be defined as the inclusion of dyadic relationships between the child, parent, teacher or the child’s legal guardian (Edgrowth, http://www. edgrowth. com/p2. html).Parental involvement that can enforce positive effects on a student’s performance can also be classified into different types. The three broad types that are often used to categorize parental involvement are â€Å"at home† or â€Å"at school†. At home parental involvement means that the activities the parent’s take part in are limited to school works that are brought home such as home works or school projects. The second type of parental involvement is at school which basically means that the parents are involved in school activities (Patrikaku, 2005, 8).Another type of parental involvement is through advocacy activities such as being a member of PTA/PTO organizations and other organizations which greatly boost the representation of parents and students in the school and community (Chavkin, 1993, p. 191). Since the early 1980s, the United States has stressed the importance of parental involvement in children’s development. In order to stress out the importance of this involvement, many states in America e nacted legislations that will increase the involvement of parents in school programs.Some of these legislations are in Connecticut, Michigan, Ohio and South Carolina. These states require the student’s parent or guardian to be actively involved in school activities. They also require the parents or guardians to record and report the activities they do with their child (Organization for Economic Cooperation and Development, 2006, p. 152). The greatest gains that can be made when parents are involved in their children’s learning can be achieved when the parent’s are not only mere supporters but also if they are greatly involved in the activities.Deep involvement means that the parent’s not only supervise the children but also act as tutors when the children are at home. (Hornby, 2000, p. 3). Therefore the establishment of extensive parental involvement is a very important element in maintaining and securing the effectiveness of quality education. Numerous b enefits of involving parents in a student’s learning justify why this kind of involvement is important. Research done in the United States show that when parents play a role in their child’s education, the students do not only benefit academically but also socially.The research also showed that family income and social status are not accurate indicators of whether a student will succeed. (Franklin, et. al. , 2006, p. 630). The environment that a family creates when they are involved in a student’s learning makes a student want to achieve more. Also, when they support and express high expectations from their children’s education, the children tend to achieve more. Additionally, children learn the value of their achievements no matter how big or small it is therefore encouraging them to be proud of who they are.Other researchers were able to deduce that parental involvement is directly related to student achievement. The students who had their parents invol ved in their education were observed to have better performance in school. The students had better attendance and decreased drop-out rates. The attitudes and behaviors of the students were also improved. School bullying was not observed from the students who are effectively guided by their parents (Hawes, et. al. , 2001, p. 742). When a parent guides their child in school through positive involvement, the child also learns how to be responsible and have good leadership skills.Studies show that the ability to make wise decisions start from decisions that are made within the family. Therefore if a child is taught wisely, the child will be able to make sound decisions when he is at school and especially when he grows up (Michigan Department of Education, 2010l). From the very early stages of studying, parental participation deeply enhances the academic achievement as well as a child’s adjustment in school. It also allows students to have better opportunities to cultivate scholas tic and social skills.These skills if developed well will be helpful in later school success and long-term cognitive benefits (Wong, K. , et. al. , 2002, p. 184). Importance of parental involvement is also highlighted because students whose parents are involved in school have good discipline at school and have better communications with their teachers. Unlike other students who disobey their teachers and do not behave well in class, these students do not get detentions often. They also respect their teachers like how they respect their parents (Va Educational Research Service (Arlington), 1997, p. 7).School administrators also refrain from unsatisfactory work when it comes to monitoring children. Indeed parental involvement is very significant in a student’s development and their achievement. Its importance is proven by numerous studies done not only in the United States but also in other countries. Its significance encourages more schools to pursue their students’ par ents to become more actively involved in school activities. It also makes communication between school and the parents better. Children are undoubtedly stimulated to achieve more and do well in school. Socio-Economic BarriersMaking majority of parents involved in the children’s education is not an easy task for educators. There are many impediments in parental involvement that school administrators face. Though there are legislations made for this, barriers such as socio-economic factors are not easily eradicated. Socio-economic status or SES can be defined as an individual or family’s social and economic position that is basically based on the family income and occupation, parental education level, and social status in the community (North Central Regional Educational Laboratory, http://www.ncrel. org/sdrs/areas/issues/students/earlycld/ea7lk5. htm). Students who belong in lower socio-economic class or the working class have lesser parental involvement than those who belong in the upper socio-economic class. This is partly because the parents of the latter spend more time with their children than those from the lower social class. Parents who are not very affluent spend majority of their time at work therefore reducing the time that is supposed to be spent guiding their children (King. W. , 1999, p. 64).Working class parents also refrain from developing communication relationships with their child’s teachers thus resulting in lack of information when it comes to school activities and happenings inside the classroom (Galen, J. , et. al. , 2007, p. 169). Another barrier in parental involvement that is related to the socio-economic status of a parent is when school administrators favor students whose parents are more supportive of school policies. These parents give more to school projects in terms of monetary donations therefore making them more actively participate in school.Also, there are cases where in students from disadvantaged famili es experience double jeopardy in school. The â€Å"double jeopardy† happens when students who have low socio-economic status live in disadvantaged communities and are also doubly inclined to attend disadvantaged schools. Though they can choose to attend better schools, they are sometimes segregated by these advantaged schools therefore discouraging them from doing better in class. Segregation happens when the said schools choose the most able youth in school activities thus neglecting other students (Richardson, S. , et. al. , 2005, p.213). Another study showed that parents who live in communities with poor socio-economic status are not very easy to reach in terms of communication (Van Wyk, et. al. , 2008, p. 17). They either settle in different places in a short-span of time partly because they do not have sufficient financial resources. Some are difficult to reach because they deem parental involvement in school as a waste of time and that they should be earning money for t heir family than attending school functions. Lack of access to financial resources is seen to be a growing problem in schools today (Thomas, L. , et. al., 2007, p. 68). Cost of education is slowly increasing and some parents choose to have their children out of school in order to meet the demands of their basic needs. When this happens, the number of out-of-school children increases. Thus, the needed opinion from parents to make the quality of education better is not given. When a certain family belongs in a community from a low socio-economic status, they tend to feel isolated because of poverty and unemployment. This social isolation will have a negative impact on the parents’ and children’s socialization skills especially to the school (Lyman, R., et. al. , 1989, p. 211). Some parents express fear about communicating with teachers because they are afraid that they will be treated fairly by teachers. Discrimination or unfair treatment due to their class is also feare d by parents from low socio-economic background. Additionally, depending on the socio-economic background of the parent, they may adapt well to the advocacies done by the school and the activities performed by schools (Porter, L. , 2008, p. 35). They can either choose to easily accept these school policies or not and this will greatly affect the success of parental involvement.Language Barriers The use of languages sets humans apart from other living organisms. It is a vital tool that is utilized to communicate with others and understand each other. However, because of the many different spoken languages, people from different nationalities find it difficult to reach each other. In case of parental involvement, language is also another barrier in achieving the benefits of parental involvement. School activities such as Parent-Teacher Association meetings are deemed important in involving parents in the child’s school.It is one way to let the parents know of the problems of th e school and the students and how they can help the school solve these issues (Struck, D. , 1995, p. 17). However, when meetings are held in a school that caters to widely diverse nationalities, language is a problem. Not everybody speaks and comprehends one language, therefore making understanding difficult. Parents who belong to the minority or other nationality for example Asians feel that it may be disrespectful if they will talk to teachers and not be able to fully understand what the teacher is saying (Diane Publishing, 1998, p. 21).Minority parents also feel awkward when approaching teachers and other staff from their children’s school because they feel that they will not be able to understand each other. There are also instances where in because of the language barrier, parents from the minority are no longer invited to attend school activities because instead of making understandings, more arguments are made (Rockwell, R. , et. al. , 2009, p. 95). Though there are tr anslations services offered by some schools that advocate parental involvement school, difference in language is not that easily overcome by some school administrators (Funkhouser, J., 1997, p. xlv). This is because translators are unable to translate all languages that may be used by parents. Additionally, not all parents, especially from the minority are not that welcome to the idea that someone is translating for them. School Receptivity The school’s receptivity also plays as a factor in the success of parental involvement. If the school welcomes the parents well and if they are open to the opinions of the parents, hindrances to parental involvement will be avoided. School receptivity is, based on researches found to be a great predictor of how willing school’s are (Robinson, E., 2007, p. 11). However, not all schools are very receptive to parents at school. Research showed that there were teachers who did not communicate well with parents thus resulting to too many miscommunications (Nelson, G. , 2005, p. 253). Projects that were started both by the school and the parents in order to guide students failed. Because of this, some schools refrain from involving parents too much in school activities and other advocacies. Family members and school personnel are the people responsible for a child’s education.Aside from this, these people also contribute to the betterment of the educational process (Hiatt-Michael, D. , 2010, p. 4). Their receptivity towards each other is fundamental to the construction of a child’s knowledge. The greater the receptivity, the better the relationship between the parents and the school is and better decisions will be made for the benefit of the students. As mentioned before, there are parents who are afraid of talking with teachers because of socio economic and language barriers. The same goes with school administrators and other school personnel.Some of them do not accept much of the parent’s invo lvement in teaching students for this may cause confusion in the part of the students. Indeed, school receptivity is a major factor in the implementation of parental involvement in a child’s study. Even if there are numerous laws or regulations that encourage parents to be involved in schools, if the school itself is not receptive to these policies, the parents’ effort to support their children’s education will all prove to be futile. Parent Aspirations As parents, it is only natural for them to aspire for something good for the future of their children.In order to prepare them for it, they send them to the best schools, give them the best resources that they can afford and guide them very well on what decisions should be made. Their involvement in the children’s school is also another method of preparing their children that better future. Through proper academic encouragement, parents can greatly help their children achieve in school (Valencia, R. R. , 2 002, p. 125). However in cases of disadvantaged families, their aspirations for their children might lack and result to the student’s poor performance in school.Because of their status they tend to be more negative that parents who are affluent or parents who are not that disadvantaged. Parents from disadvantaged families are by research more pessimistic than those who are not disadvantaged (Organization for Economic Cooperation and Development, 2010, p. 179). Parents who are from poor families also have the tendency to settle for less than ambition for something great. When they let their children attend school, they do not pursue a college degree because they think that graduating from secondary school is enough to get a decent job (Combat Poverty Agency, 1999, p.10). When these parents do not have high aspirations for themselves or their children, they also refrain from being involved in school activities. They think that it is just a waste of time and that it will not be necessary in finding decent jobs in the future. They also do not want to be involved in their children’s school because they might have experienced something negative which led to their low aspirations in life. On the other hand, if the parents, even if they belong in a disadvantaged family, have high aspirations for their children, then their involvement in the school will be high.This will lead to their children’s high achievements and to do well in school. Additional Barriers Aside from the barriers to parental involvement mentioned above, there are still more problems that serves as hindrances to parental involvement for disadvantaged families. These barriers are the reasons why parental involvement is not that effective in some schools. If not dealt with properly, both y the school and the parents, the construction of education of the student will be gravely affected. The structure of the family can be considered as another barrier in parental involvement especial ly for disadvantaged families.For an instance, if the family belongs to the single-parent structure, then it will be difficult for the parent to be involved in school activities. It will also be hard for her to teach the children after school because the said parent will be performing the roles of two parents at a single time (Callison, W. , 2004, p. 2). The working schedule of the parent is also another barrier in parental involvement. If the parent is working full time, then it will be difficult for them to be involved in school activities which aim to give their children better education.Meetings such as PTA meetings will clash with their work scheduled and they will have to sacrifice one or the other based on their time schedule. If they belong to a lower socio-economic class or from a disadvantaged family then they will surely choose their work because making money for their family will be their utmost priority. Other children in the family can also be another barrier in parent al involvement. There are cases where in the disadvantaged family has too many children. Because of this, they cannot focus on the welfare of one child alone.They sometimes neglect or sacrifice the education of their other children to give way to their younger children. They cannot support the school’s advocacies because they have other things to do for their other children (Openshaw, L. , 2007, p. 60). For disadvantaged families who came from other countries or are immigrants, cultural differences may be a barrier for them. What they are used to do in their home country may vary on the place they currently reside in. Miscommunications will be the result of cultural differences between the parent and the teachers.What the teacher will say might mean entirely different to the parent based on the culture he grew up in. Elderly parents or guardians can be another barrier in parental involvement especially for disadvantaged families. Elderly people are sometimes too conservatives when it comes to changes in policies or how things are ruled. When the school wants a new regulation that will be for the welfare of the students, there is a chance that they might resist this change. Instead of helping the school to provide better services, their being conservative will only hinder the positive changes enforced.Transportation can also be considered as another barrier in parental involvement. For disadvantaged families especially, spending money on transportation to go to their child’s school can be called luxury. They might be unable to afford transportation so they will just skip the meetings or other advocacies implemented by the school. Negative or other traumatic experiences that a parent had when they were at school can be another barrier for parental involvement. Due to the negative experiences they had when they were students, they might shun connection with schools when they grow up.More often than not, parents send their children to schools they we nt to when they were younger. Though the staff that administers the school may be different during their children’s time, the trauma brought about by their negative experiences may result in their refusal to be involved in the school again. Indeed there are more barriers to parental involvement especially for disadvantaged families that are being discovered by studies done by experts. Unless they are dealt with properly, implementation of parental involvement in schools will not be successful. References Callison, W. (2004). 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New York: SUNY Press. Hawes, J. , Shores, E. (2001). The family in America: an encyclopedia, Volume 1. California: ABC-CLIO. Hiatt-Michael, D. (2010). Promising Practices to Support Family Involvement in Schools (PB). New York: Information Age Publishing. Hornby, G. (2000).Improving Parental Involvement. New York: Continuum International Publishing Group. King, W. (1999). Looking into the lives of children: a worldwide view. Australia: James Nic holas Publishers. Lyman, R. D. , (1989). Residential and inpatient treatment of children and adolescents. New York: Springer. Michigan Department of Education. Parent Involvement = Student Achievement. Retrieved August 22, 2010, from http://www. michigan. gov/mde/0,1607,7-140-5233-23090–,00. html Nelson, G. (2005). Partnerships for prevention: the story of the Highfield Community Enrichment Project. Canada: University of Toronto Press.