HR Practices in Gala Coral Group Essay Example | Topics and Well Written Essays - 1750 words

HR Practices in Gala Coral Group - Essay Example As the discussion outlines the strategies of Group include developing and applying the most excellent technology structures so that their customers get the finest products in well-organized way possible, delivering market-dominant multi-channel facilities, so that their customer could assess the exhilarating products, continuing to build up exclusive and innovative product, and focusing on better locations for their retail shops, thus delivering augmented profitability. Gala Coral Group serves customers mainly in the Italy and United Kingdom which are the largest regulated markets of gambling in Europe. This study stresses that the objective of this paper is to focus on one of the social problems such as gender inequality issue of Gala Coral Group. It will lay emphasis on the major issues of the company such as pay gap, discrimination at work, occupational sex segregation, etc. Various approaches to these issues will be also taken into consideration which will consequently lead to the success of the company. The company is facing some gender issues as all the Board member or directors are male members. The company does not have any female member on the director’s position. For their marketing campaign strategy also, Gala Coral Group have male brand ambassadors to carry out the required activities. So, the major issue of Gala Coral Group is the gender inequality issue. Gender inequality is the biasness based on the gender that supports sex stereotypes of communal roles. It is most frequently used in regard to unfairness against women, though men could be differentiated against as well. Women are frequently supposed to be submissive and passive, whereas men are normally supposed to be aggressive and self-confident.

The Fragility of Doubt Assignment Example | Topics and Well Written Essays - 750 words

The Fragility of Doubt - Assignment Example When Sister James says that she can handle her class, Sister Aloysius makes her doubt herself by saying: â€Å"But perhaps you are wrong. And perhaps you are not working hard enough† (Shanley 18). She wants Sister James to doubt her performance as a teacher, so that she will never stop criticizing her abilities and so that she will continue growing as a teacher and as a nun. Sister Aloysius, furthermore, doubts those who violate moral codes. She has an instinct for detecting suspicious behavior. She could be right because Father Flynn has been defensive when asked about what he did to Donald Muller. Instead of simply saying he did nothing, Father Flynn answers: â€Å"Whatever I have done, I have left in the healing hands of my confessor† (Shanley 49). The way he gives vague answers confirms that he has done something wrong in the past and that he might as well have done something wrong with Donald too. Besides doubting others, Sister Aloysius shows her Socratic side when she doubts her teaching abilities. Socratic means she knows that she knows nothing. She reveals to Sister James that she has been married before taking the habit, but she admits that she â€Å"would feel competent to lecture tittering girls on the subject of womanhood† (Shanley 23). Sister Aloysius is aware of her weaknesses as a teacher, which is quite important because doubt can be used as a means for self-improvement. Like Sister Aloysius, Father Flynn also doubts others. He doubts his team of basketball players for not giving their best. He believes that they should set high social stands and excel in their performances.

Gender Inequalities in Health Sociology

Gender Inequalities in Health Sociology This essay aims to understand why there are health inequalities between both genders and the social classes. This will be achieved by analysing the findings of sociological research, whilst discussing the main problems with how health inequalities are measured. The cultural and structural explanations on why health inequalities occur will also be evaluated. In 2009, The House of Commons Health Committee published a report, which found that even though peoples health was improving in all social groups, the gap between the health of the social classes had widened. The reason stated for this, was that the health of those in higher social classes was improving far quicker than the health of those in the lower social classes. The figures within in the report showed that if you are in a higher social group you are more likely to live longer than someone in the lower social classes. The report also stated that not only do poorer people die younger; they also suffer more years of ill health. Access to health care for the lower classes is also uneven and those who are poor, elderly and disabled are less likely to receive proper treatment than those who are young and able-bodied. A report done by the Learning Disabilities Observatory alleged that this was because the elderly and disabled were unable to access health care due to reduced mobility, being unable to communicate health problems to professionals and their carers failing to identify health problems. (Eric Emerson, 2010) The Health Committee report also illustrates the interrelations of gender inequalities and socioeconomic status. On a geographical level females who were born in the more affluent areas of London, such as Kensington and Chelsea had a significantly higher life expectancy (87.8 years) than females who were born in Glasgow (77.1 years), which has the lowest life expectancy figure in the UK. Subsequently, even though the life expectancy for males and females in social class l (professional) and social class V (unskilled manual) has improved compared to previous years, the disparity between them, is still widening. (House of Commons, Health Committee, 2009) A cultural explanation was also given for why mens life expectancy is more severely affected than womens life expectancy. It was suggested by the Mens Health Forum that men are more likely to take risks with their health due to them trying to cope with stress and conforming to role models in society. Men, compared to women also make poor use of primary care services such as pharmacies and GP surgeries. This is thought to be because men find it culturally unacceptable to discuss their health problems. Men are also more likely to die of health problems relating to their weight, as they are less able than women to identify when they are overweight, as weight is seen as a womens issue. (Memorandum by the mens health forum, 2008) However, even though the data found within the Health Committees report looks convincing the majority of the data is based on morbidity rates, which are not always reliable, as not everyone who gets ill may report their illness. Even human error and illness not being recorded accurately can mean that data based evidence of health inequalities can be unreliable. A previous report done in 2004 by Hilary Graham, featured evidence that suggested that if your parents were poor or in poverty then you were already predisposed to having poor health and having a higher mortality and morbidity rate. This was due to mothers who are poor not being able to afford nutritious food and not being able to access health care. This in turn can lead to babies being born with a lower birth weight, and poor cognitive and physical development. This can influence further problems in health as an adult and therefore, further inequalities in health than someone who was born to parents with a higher income. The findings of the report done by Graham also showed that those living with illness or an impairment were less likely to avoid economic hardships due to their persisting health difficulties and the discrimination they faced, meaning they were less likely to maintain long term employment. In turn, those who did belong to a higher socioeconomic group had a far bette r chance of staying in employment even when faced with ill health. It was also suggested within the report that socioeconomic position affects an individuals health indirectly by influencing intermediary factors such as their home and environment (e.g. poor living and working conditions) and psychosocial factors such as their stress levels and relationships within their family. (Graham, 2004) On analysing Grahams report, there are certain criticisms that can be made on the reliability of her findings. For instance, all the data that featured in her report is secondary; none of it is her own. Therefore, the validity and reliability of the findings featured in her report is only as good as the people she collected it from. However, the research she did use was up -to date and from credible resources. There are cultural and structural explanations that also help us understand why there are inequalities in health between the genders and social classes. In relations to gender inequalities in health the cultural/ behavioural explanation suggests that men are far more likely to suffer ill health and die younger than women due to role models in society and the need for them to feel masculine. Because of this, young men in particular are more likely to smoke, drink alcohol and take drugs. A higher consumption of alcohol and drug taking in particular is thought to be a prime reason why young men are more likely to commit suicide. Women, on the other hand have been socialised to pay greater attention to their health and body as it is seen as a way to define their femininity. However, more women suffer from eating disorders than men do. (Waugh,C. et al 2008) Many feminists believe that women no longer have control over the health care they receive, and any health care they are given is sui ted to doctors and hospital hours. They also argue that women are left to suffer at the hands of male doctors, who are more likely to diagnose female patients symptoms as that of a mental illness. (Browne, 2008) The structural/ materialistic explanation for inequalities in health has suggested that women are more likely to get ill because of their role in society as caregivers because they are more likely to suffer from stress and mental illness. Women who do part-time work are also more likely to suffer from ill health as they are less well paid and have fewer perks than women who are able to do full time work. Men on the other hand often do jobs that are dangerous, stressful and physically demanding (e.g. warehouse work, armed forces jobs etc.) The structural explanation also suggests that those who are in the lower social classes are more likely to suffer from ill health because they are less able to engage in healthy lifestyle choices due to lack of income. They are also more likely to do manual jobs and have less money to buy good quality foods. Lack of transport may make it harder to access medical care and stress of not having enough money can lead to further health problems, which ma y eventually lead to unemployment. Marxists claim capitalist society causes people to become ill as it aims to serve only the higher classes. Being unable to work is seen as the definition of sickness, whilst Doctors are seen as agents of social control with the power to sign people off work. Yet not working can equally make people ill by increasing the risk of ill health, depression and suicide. (Kirby,M. et al 1997) Both explanations are equally valid; however, the structural explanation looks at the wider picture of why people in lower classes or certain genders are more likely to suffer from high morbidity and mortality rates, as they cannot afford healthy lifestyles like the higher classes. The cultural explanation gives insight into why one gender more than the other seeks health care and why data for morbidity if higher for women than men yet mortality levels are higher than men than in women. (Martin Holborn, 2004) In conclusion, the findings in both the reports from the Health Committee and by Hilary Graham both show that the lower your social class, the higher your risk of suffering from poor health and lower life expectancy. Furthermore, the cultural explanation gives reason to why men are less likely to visit the doctor due to wanting to conform to masculine stereotypes, whereas women are encouraged to look after their health. Alternatively, the structural explanation gives greater insight into how your social class can affect your health by limiting your access to healthcare and the means to living a healthier lifestyle.

Athletic Training and Writing Studies

Genre Analysis This paper will take an in depth look at two articles that are representative of two different discourse communities. It will also analyze features that are different amongst the two discourse communities so that people have a better understanding of the different characteristics that discourse communities possess. It will explore the different styles that each discourse community utilizes, including but not limited to writing, citation styles and organizational styles. Keywords: Discourse Community, characteristics, organizational style, citation style writing style Many people do not understand that to be considered a discourse community, a group must have certain attributes. These attributes represent the way that the discourse community read, write, or communicate with one another. It is important that these attributes are done on a level that will be understood by those within the discourse community they are a member of. Although each genre typically has their own way of communication, whether it is via writing, email, or another form of communicating, some utilize the same ways and other genres utilize different ways. Regardless of the choice of communication, the goal is the same throughout discourse communities and that is to have effective communication. The differences and similarities are apparent when analyzing two articles from two different discourse communities, Athletic Training and Writing Studies. The first peered reviewed article accessed from the Athletic Training Education Journal titled â€Å"Redefining Professional Knowledge in Athletic Training: Whose Knowledge Is It Anyway?† examines the way that Athletic Training has defined it body of knowledge and how to secure that body of knowledge in the Athletic Training discourse community. The second peered reviewed article titled â€Å"Rhetorical Reading Strategies and the Construction of Meaning† not only discusses reading and writing at a college level, however also discusses the role of rhetorical reading while writing and reading. Identification Identifying the differences and similarities between the two peered reviewed articles, â€Å"Redefining Professional Knowledge in Athletic Training: Whose Knowledge Is It Anyway?† by Patrick O. McKeon, PhD; Jennifer M. Medina McKeon, PhD; Paul R. Geisler, EdD and â€Å"Rhetorical Reading Strategies and the Construction of Meaning† by Christina Haas and Linda Flower gave more clarity on the different and similar writing styles of the two different discourse communities. The first difference that was apparent was the formatting of the two articles. The first article by McKeon et al. appears to use an APA format for their article. APA format typically includes an abstract as well as a reference page that list the sources that were utilized throughout the paper, this paper included both. The APA citations are also different than the MLA citations. The Haas and Flower article is done in an MLA format, it does not include an abstract, title page and the source page is referenced as a â€Å"work cited† page which is typical of MLA formatting. The citations in MLA formatting are presented differently on the â€Å"works cited† page than a reference page of the APA format. What was observed in both articles that was similar, although using the different formats, was that both articles were 1-inch margins and 12-point font which is adhering to both the MLA and APA formats. To attract a reader typically organization of an article is important. These two articles differed in how they were organized, for instance the article â€Å"Redefining Professional Knowledge in Athletic Training: Whose Knowledge Is It Anyway?† is organized by headings that clearly represent the facet of the information that is to follow the heading. Haas and Flowers article â€Å"Rhetorical Reading Strategies and the Construction of Meaning† does not include headings to present information, the information is sporadically placed within the article, including data represented by the study itself. A prominent similarity between the two articles was that they were both evidence-based articles. The article â€Å"Redefining Professional Knowledge in Athletic Training: Whose Knowledge Is It Anyway?† the study shows that by clearly relating the Professional body of knowledge and the evidence that is utilized in the evidence-based practice helps to secure that there is, in fact, authority and legitimacy to the Athletic Training Profession body of Knowledge. (McKeon, el.at.) The article â€Å"Rhetorical Reading Strategies and the Construction of Meaning† was based on studies done with college students. These studies represented primarily the different ways that college students read and write. These studies were performed in hopes that undeniable proof would indeed help to strengthen the abilities of college students in the aspects of reading and writing. There were similarities to the stylistic form of writing of both the articles. The Haas and Flower article was more of an active voice rather that a passive voice. This was noted mainly because of wording and sentence structure. An active voice basically describes what the subject is doing or going to do, which in this article could be clearly defined throughout. The article by McKeon el. at. also used an active voice throughout the article. Suggesting what could be done as well as what is being done to secure their Professional Body of Knowledge in the Athletic Training field. Using an active voice in both articles helped to validate the strength of the articles which is important to the reader. Regarding the convention of the two articles they differed in how information was conveyed through visual illustration. It was clear that the authors Haas and Flower utilized multiple illustrations to identify the results and convey important information a manner that was visually understood. This allowed for information to be conveyed faster and accurately with different visuals, i.e. graphs, figures. In the article â€Å"Redefining Professional Knowledge in Athletic Training: Whose Knowledge Is It Anyway?† the authors chose to not utilize many visuals, instead they utilized the grammar convention, which made deciphering the article slightly more time consuming that when visuals are incorporated. In short, the common goal of both articles was to communicate information to help advance their specific discourse community. In the Writing Studies community the information relayed, no matter how, was to improve the reading and writing skills of college students. In the community of Athletic Trainers, it was to facilitate a better understanding of the Professional Body of Knowledge and the relation to their stature in the healthcare field. The common goal simply stated was to advance each discourse community with the studies that were performed. Analysis Reading both articles, it was clear the active voice was representative of both the Writing Studies and Athletic Training discourse communities. Using the active voice defines a characteristic of both communities and the way they communicate, making sure that information is conveyed, clearly, concisely and straight to the point. This is an important attribute to these discourse communities simply because to advance it is important to understand and communicating efficiently is important. Utilizing the active voice also relays the strength and validation to the article which is important to the reader also. These two articles are clearly written as evidence-based articles, this is another important characteristic of the discourse communities of which the authors belong. It shows that both discourse communities rely on data that has scientifically evident and data that proves the facts. This information is made available in both articles through concise experiments that resulted in a conclusion that was beneficial to both discourse communities. This is an important attribute in the discourse communities because the reputable proof that is determined through these experiments reflects that the discourse communities require information that is only factual and based by scientific evidence. Organizational manner of both articles as stated was different. The article by McKeon, el. at. chose to structure the paper with an introduction, method, result, analysis and discussion format. This type of structure can be a representative characteristic of the discourse community Athletic Training by suggesting the discourse community relies mainly on scientific evidence and factual data. Utilizing headings helps the reader follow and have a clearer understanding of the material that is being discussed. The article by Haas and Flower chose to take a more laxed approach to the structure of their article. The authors used very little headings and left the article with points that could be further discussed. Even know results were apparent this article was left more open-ended, maybe to leave the reader no choice but to ask questions? This type of structure demonstrates the discourse communities will to speak freely and offer any elaboration that is needed. The different formatting of the articles APA and MLA represent the different characteristics that both discourse communities possess. The Athletic Training discourse community utilized an APA format in this article, this is representative of the concise, reliability and validity that is expected when writing in this discourse community. The authors of the Writing Studies article utilized the MLA format for the structure of their paper which is typical of the discourse community. This type of format demonstrates the discourse community's openness to further discuss and elaborate on the subject at hand. The difference in the formatting of the citations on both the reference and works cited pages represent the discourse communities' differences of what they stress importance on when using multiple sources. MLA citations always begin with the title name and APA citations usually begin with author first. The Athletic Training discourse community, using the APA format prefers to emphasize the importance of the author (writer) contrary to the discourse community of Writing Studies who choose to emphasize the importance of the subject in their citation. The conventions that were apparent in the articles displayed the discourse communities' differences in respect to conveying information. The Haas and Flower article had multiple visual illustrations that conveyed precise information in a quick manner. This is standard of the Writing Studies discourse communities will to open minded for elaboration. Presenting a graph or figure can reflect the need for more discussion. The McKeon el. at. article used only one display of visual illustration to convey information which is contrary to the discourse community who is usually under time constraints. The authors chose to use more grammar conventions such as mechanics, usage, and sentence structure to convey their message. This is also typical of the discourse community of Athletic Training and their continued effort to communicate in a fashion that is easily understood, straight to the point, concise and efficient. The last noted similarity in both articles was the fact that the articles were written in a manner that provided information to improve their discourse communities. Knowledge is power, and this was reflective in both articles with the information that was conveyed. This makes sense as both discourse communities have common goals and that is to better the community to which they belong by further research and continued communication. Reflection This Genre Analysis has given me the opportunity to explore and examine the different writing styles of the discourse communities of Writing Studies and Athletic Training. Despite that the discourse communities are from completely different realms, I analyzed both articles which later proved to achieve one common goal and that was communication through writing. After analyzing the two articles it was clear that the discourse communities had different as well as similar writing styles that they utilized to convey their messages. I was able to gain an understanding that the overall goal of conveying information effectively and concisely. Of which, ironically, was a common goal among both discourse communities. This analysis has also given me a better understanding of how writing, or the type of writing used can identify the characteristics of a discourse community. For example, the Athletic Training discourse community writes in a fashion that is straight forward and to the point to communicate the outcome. The Writing Studies discourse community tends to leave some information open ended, up for discussion they are a little laxer in their approach. No matter the approach in writing among the discourse community the bottom line will always be the same, to write in a manner that is concise and effective. Another very important aspect that was observed was the importance of adapting to the writing styles of the discourse community you belong to. Adapting will ensure that you can communicate effectively within the discourse community and most importantly be respected by fellow members. ReferencesHaas, C., ; Flower, L. (1988). Rhetorical Reading Strategies and the Construction of Meaning. College Composition and Communication, 39(2), 167-183. doi:10.2307/358026Patrick O. McKeon, Jennifer M. Medina McKeon, and Paul R. Geisler (2017) Redefining Professional Knowledge in Athletic Training: Whose Knowledge Is It Anyway?. Athletic Training Education Journal: April-June 2017, Vol. 12, No. 2, pp. 95-105. https://doi.org/10.4085/120295

Rice Seeds

Table 1 Shoot and root length of a dicot and a monocot seedling Shoot Length (cm)| Root length (cm)| | 1| 2| 3| 4| 5| Average| 1| 2| 3| 4| 5| Average| Day 1| 0| 0| 0| 0| 0| 0| 0| 0| 0| 0| 0| 0| Day 2| 0| 0| 0| 0| 0| 0| 1. 1| 1. 0| 1. 2| 1. 0| 0| 0. 86| Day 3| 1| 0. 5| 1| 1| 1| 0. 9| 2| 2| 2| 2| 2. 1| 2. 02| Day 4| 1. 2| 1| 1| 1. 1| 1| 1. 6| 2. 5| 2. 5| 3| 3| 2. 5| 2. 7| Day 5| 2. 1| 2| 1. 3| 2| 1. 3| 1. 74| 3| 3. 1| 3. 2| 3. 2| 3| 3. 1| Day 6| 2. 1| 2. 1| 2. 1| 2. 1| 2. 1| 2. 1| 5| 3. 5| 4| 3| 5| 4. 1| Day 7| 2. 5| 2. 5| 2. 2| 2. 5| 2. 5| 2. 44| 5. 5| 4. 5| 5| 5| 5| 5|Table 2 Breaking dormancy of Leucaena leucophala seeds Treatment| % Germination| | R E P L I C A T I O N| | 1| 2| Average| Rubbing on sandpaper| 0%| 0%| 0%| Clipping| 0%| 1%| 0. 5%| Soaking in hot water (50 degrees Celcius)| 0%| 0%| 0%| Control| 6%| 0%| 3| The experiment has shown that by clipping the seeds perhaps germination of the seed can be attain. Rubbing the seed with sandpaper can break the dormancy as well as i t can also break and kill the seed. Soaking the seeds in hot water can also break the hardness of the coat of the seed thus can also kill the developing parts of the seeds of the plant.Clipping can be considered as an effective way of breaking the dormancy of the seed thus in some unexpected ways or inaccurate work, the seeds may be damaged and may not germinate. Table 3. 1 Effect of initial moisture content on the storability of rice seeds I. Effect of initial moisture content on the storability of rice seeds Treatment| % Germination| | R E P L I C A T I O N| | 1| 2| Average| | After 3 days| After 7 days| After 3 days| After 7 days| | 11% moisture content| 12%| | 12%| | 16%| 20% moisture content| 0%| 16%| 0%| 12%| 14%|The results have shown that the rice seed treated with 11% moisture content have higher percent of germination as compared with the rice seed treated with 20% moisture content. Rice seeds are known to be an orthodox type of seeds. Orthodox type of seeds are seeds whic h are needed to be stored with low moisture content under conditions at low temperature and low humidity. This means that in order to attain and make the seeds germinate these seeds must be maintained at low moisture content. Table 3. 2 Storability of recalcitrant seeds Treatment| % Germination after one week| Freshly extracted| 80%|Stored for one week| 0%| The results have shown that the cacao seeds which are freshly extracted have higher percent of germination as compared with the cacao seeds stored for one week. Cacao seeds are known to be recalcitrant type of seeds. This means that this type of seeds should have been planted after they are extracted. These seeds should not be stored long to attain a high percent of germination. Since the seeds are stored for seven days or one week the seeds will no longer germinate because it has already dried up and this type of seed must be stored without reduction in their moisture.

The War Of The Cold War - 1497 Words

Once the Cold War was starting to unfold in the 1950’s and 1960’s, the world endured more change than in any other period of time throughout history. A global independence movement was reshaping the world into what we know it as today. Several nations from the regions of South Asia, Southeast Asia, Africa, and the Middle East were finally gaining the independence they have long demanded since the 1800’s. All of these nations were former areas that the western powers of Europe colonized for their own benefits. These benefits included the use of slave labor and the slave trade, use of the country’s natural resources, or just to fulfill the need to create a global empire. After hundreds of years of this unjust treatment, dating all the way†¦show more content†¦Many of the once powerful European empires emerged extremely fragile out of World War II, and many of them were forced to abandon their oversea empires. This was because of the fact that many o f them were unable to support themselves due to the amount of resources that were consumed, in order to bring down Germany’s rule in World War II. The United States even had to financially support the countries of Western Europe through the Marshall Plan, as it took majority of the Cold War for these countries to get back on their feet. Despite the damage, this was the perfect opportunity for the colonized regions of the world to fight back while they were stronger and obtain independence, which is exactly what they did. Two of the most important colonies that gained their independence at this time were the countries of Pakistan and the Philippines. One thing that the world does not always acknowledge, is that many countries have actually been demanding for independence ever since the 1800’s. The partition that created Pakistan was a long and tedious process before it got approved. Before World War II, Great Britain had full control over the country of India and its resources, even though the people were demanding for self-rule for several years. At the time, India consisted of both Muslim and Hindu cultures, and the tensions between the two

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.