Budget and Budgeting Techniques Essay Example for Free

Budget and Budgeting Techniques Essay Answer- 1: Answer- 1 India was a closed economy in the beginning. Policy banning imports. The Liberalization of India’s Government in 1991. New Industrial Policy. Strict policies regarding the entry of foreign brands. Trade rules regulations simplified. Foreign investment increased. Pepsi enters in 1986. Coca-Cola follows in 1993. Contd †¦ Slide 14: Unlawful to market under their Western name in India Pepsi became â€Å"Lehar Pepsi†. Coca-Cola merged with Parle and became â€Å"Coca-Cola India†. Different Laws for Pepsi and Coke Coca-Cola agreed to sell off 49% of its stock as a condition of entering and buying out an Indian company. Pepsi entered earlier, and was not subject to this. Contd †¦ Slide 15: India forced Coke to sell 49% of its equity to Indian investors in 2002. Coke asked for a second extension that would delay it until 2007 which was denied. Pepsi was held to this since they entered India in a different year. Coke asked the Foreign Investment Promotion Board to block the votes of the Indian shareholders who would control 49% of Coke. Change in oversight of the FIPB: Past lobbying efforts made useless. Contd †¦ Slide 16: Could these problems have been forecasted prior to market entry? Probably not Inconsistent, and changing government. How could these developments in the political arena have been handled differently? Coke could of agreed to start new bottling plants instead of buying out Parle, and thus wouldn’t of had to agree to sell 49% of their equity. Answer-2: Answer-2 Coca-Cola’s Pros Cons of Timing of Entry in the Indian Market: Coca-Cola’s P ros Cons of Timing of Entry in the Indian Market Benefits Parle offered its bottling plants in 4 major cities. Made its return to India with Britannia Industries India Ltd. Disadvantages Rigid Rules and Regulations. Buying of bottling plants leads to 49% disinvestment. Local demand of carbonated drinks is as very low. Harder to establish themselves. Pepsi’s Pros Cons of Timing of Entry in the Indian Market: Pepsi’s Pros   Cons of Timing of Entry in the Indian Market Benefits Own set up green filled bottling plants. Advantage of coming before Coca Cola. Government policies favored the company. Joint venture with Voltas and Punjab Agro. Gained 26% share by 1993. Disadvantages Pepsi approached Parle but it was rejected. Launched 7up and there is stiff competition in the market for lemon drinks. Answer-3 Responses to India’s Enormity : Answer-3 Responses to India’s Enormity Pepsi and coca-cola responded in many ways to the enormity of India in terms of it population and geography. Conti .. Cont..: Cont.. Product Policies: Catering to Indian tastes Entering with products close to those already available in India such as colas, fruit drinks, carbonated waters Waiting to introduce American type drinks Coca-Cola introducing Sprite recently Introducing new products Bottled water Conti .. Cont.. : Cont.. Promotional Activities: Both advertise and use promotional material at Navratri . Pepsi gives away premium rice and candy with Pepsi Coca-Cola offers free passes, Coke giveaways as well as vacations Use of different campaigns for different areas of India â€Å" India A† campaigns try to appeal to young urbanites â€Å" India B† campaigns try to appeal to rural areas Cont†¦: Cont†¦ Pricing Policies: Pepsi started out with an aggressive pricing policy to try to get immediate market share from Indian competitors Coca-Cola cut its prices by 15-25% in 2003 Attempt to encourage consumption to try to compete with Pepsi and gain market share Contd ..: Contd .. Distribution Arrangements: Production plants and bottling centers placed in large cities all around India More added as demand grew and as new products were added Answer-4 Coke and Pepsi’s â€Å"Glocalization Strategies†: Answer-4 Coke and Pepsi’s â€Å" Glocalization Strategies† What is â€Å" Glocalization †? Global + Localization = Glocalization By taking a product global, a firm will have  more success if they adapt it specifically to the location and culture that they are trying to market it in. Both companies have successfully implemented glocalization Pepsi’s Glocalization: Pepsi’s Glocalization Pepsi forms joint venture when first entering India with two local partners, Voltas and Punjab Agro, forming â€Å"Pepsi Foods Ltd †. In 1990, Pepsi Foods Ltd. changed the name of their product to â€Å"Lehar Pepsi† to conform with foreign collaboration rules . In keeping with local tastes, Pepsi launched its Lehar 7UP in the clear lemon category. Pepsi’s Glocalization: Pepsi’s Glocalization Advertising is done during the cultural festival of Navrtri , a traditional festival held in the town of Gujarat which lasts for nine days. Pepsi’s most effective glocalization strategy has been sponsoring world famous Indian athletes, such as cricket and soccer players. Coca-Cola’s Glocalization: Coca-Cola’s Glocalization First joined forces with the local snack food producer Britannia Industries India Ltd. in the early 90’s. Formed a joint venture with the market leader Parle in 1993. For the festival of Navratri , Coca-Cola issued free passes to the celebration in each of its â€Å"Thumps Up† bottles. Also ran special promotions where people could win free vacations to Goa, a resort state in western India. Coca-Cola’s Glocalization: Coca-Cola’s Glocalization Coca-Cola also hired several famous â€Å"Bollywood† actors to endorse their products. Who could forget†¦ Answer-5: Answer-5 Yes, we agree that Coca-Cola India made mistakes in planning and managing its return to India. They wrongly forecasted Indian political environment due to which they had to dilute their stakes later (49% disinvestment). They rejected the plan to put up green fields bottling plants as they took over Parle’s existing bottling plants. Coca cola tried to get extensions twice. Answer -6: Answer -6 Pepsi and Coke can confront the issue of water use in the manufacturing of their products by the use of canal irrigation rainwater harvesting. Then they can also put water recycling plant to treat the discharged water from their factories and then they can provide that water to farmers for their agricultural use. This way the ground water problem can also be solved and managed. Cont..: Cont.. Coke can further defuse boycotts or demonstrations against their products in California by doing Ad-campaigns in which they can ask the experts from the ministry of health to convey the message to the public that their products are safe and healthy. They can also hire celebrities to do the Ads for their products because the public follows them. Coke should address the group directly because their company was not wrong and they should justify themselves. Answer-7: Pepsi Better marketing and advertising strategies Widely accepted More preferable More market share Less Political conflicts Coke Government conflicts Trailing Pepsi in market share Pepsi will fare better in the long run Answer-7 Answer-8 Pepsi’s Lessons Learned: Answer-8 Pepsi’s Lessons Learned Beneficial to keep with local tastes Beneficial to pay attention to market trends Celebrity appeal makes for exceptional advertising It pays to keep up with emerging trends in the market Coca-Cola’s Lesson’s Learned: Coca-Cola’s Lesson’s Learned Pay specific attention to deals made with the government Establish a good business relationship with the government Investment in quality products Advertising is crucial

Benefits of Hybrid Cars Essay -- Fuel Energy Driving Gas Pollution Ess

Benefits of Hybrid Cars Transportation is very important to our every day lives. Throughout the history, many evolutions and changes have been made in transportation technology, and it continues growing at a rapid pace. At first, people used horses and horse trailers as their main transportation. Then in the Industrial Revolution, the steam engine was invented. Later, there was the invention of the combustion engine, and it is the beginning of the automobile industry. Many changes and improvements have been made in the development of automobiles. However, until today, the 21st century, people are still using gasoline as the many fuel for cars. Now in 2005, we have hybrids, a new generation of automobiles. Hybrids are fuel efficient, fuel economic and environment friendly, and they are the dominant cars for the next two decades. Here we are going to discuss the major benefits of driving a hybrid. A hybrid can be simply defined as a vehicle with two sources of power combined. A modern hybrid vehicle, such as a Toyota Prius, uses both an electrical motor and a gasoline engine, and they work together to provide the power needed for a comfortable ride. Hybrids actually have been around longer than we think: From 1897 to 1907, the Compagnie Parisienne des Voitures Electriques (roughly, Paris Electric Car Company), built a series of electric and hybrid vehicles, including the 1903 Krieger. With front-drive and power steering, the Krieger wasn't built in much quantity. One model ran on alcohol, and there was another version with what has been described as a gasoline-turbine engine; in those times, the term "turbine" sometimes meant â€Å"generator."(History of Hybrid,  ¶ 4) Before the full development of gasoline vehi... ...o provide us a better world with cleaner air and greener grass. With features of hybrids, people can live longer and healthier under better environment; with limited resources, people can travel longer in lives and have more opportunities to explore lives as well as the world. Hybrids are the car for the future. Works Cited How Hybrid Cars Work. Retrieved November 14, 2005, from http://auto.howstuffworks.com/hybrid-car5.htm History. Retrieved November 14, 2005, from http://www.hybridcars.com/history.html Progressive Casualty Insurance Company (2005, April 11). Research Finds Higher Horsepower Cars Involved In Fewer Accidents. Retrieved from http://pressroom.progressive.com/releases/Hi_Horsepower_05.asp History of Hybrid. Retrieved November 14, 2005, from http://www.modernracer.com/features/historyofthehybrid.html

Diverse Leadership Wealth of Our Nation Essay

Diversity is the mosaic of people who bring a variety of ethnic and cultural backgrounds, styles, perspectives, values and belief to a group with which they are to interact. Diversity is a variation in ideas, opinion, cultural and ethnical background, style, values, and beliefs. Diversity is very essential in the portfolio of any organization or team that seeks optimum performance. The best form of learning is by learning from people with diverse ideas and methods of reasoning. Diversity is important in a team, because there will be more than enough idea and skill pool, which the team can benefit from when carrying out assignments and activities. Most people think of it simply as differences in race, nationality, or gender, but true diversity encompasses these attributes along with differences in opinions, ideologies, and interests, among other things. People tend to reflect on diversity as simply demographic, a matter of race, gender or age. However, groups can be disparate in many ways. Diversity also is based on informational differences, reflecting a person’s education and experience, and on values or goals that can influence what one perceives to be the mission of something as small as a single meeting or as large as a whole company. Diversity among employees can create better performance when it comes to creative tasks such as product development or cracking new markets. Managers have been trying to increase diversity to achieve the benefits of innovation and fresh ideas. Over the years, corporations and fortune 500 companies embraced diversity. They pushed diversity to the fore-front and embarked on campaigns to recruit, train and retain a diversified work force. The essential ingredients of performance in the workplace in the United States have always been teams and team-work. Companies built their teams in such a way that it always included people with diverse backgrounds, opinions and culture. Diversity within these teams brought about higher success rates in activities and projects because the team were able to pull ideas, strengths, knowledge and resources from a wider range of intellectual capital. The study of diversity in the workplace has taken on new importance as changing economics prompt many companies to restructure themselves into flatter, more decentralized entities. The result is that today’s corporations are built around groups that must find answers to novel and complicated business issues. These teams bring together diverse groups of people who incorporate a variety of backgrounds, ideas and personalities. Large corporations like JPMorgan Chase, Exxon-Mobil, General Electric, Ford Motor Company, American Express Company, Wells Fargo & Company, Washington Mutual Inc. , Bank of America, and Goldman Sachs were often honored for distinguishing themselves with first in class diversity initiatives in the Financial Services Industry. First the housing market collapsed; which impacted the financial markets; which impacted the stock market. On September 14, 2008, the financial industry held its breath as it watched the fall and death of Wall Street. Lehman Brothers collapsed; Merrill Lynch was sold to bank Of America. What followed was a veritable redrawing of the industrial map: Former cornerstones of the nation’s economy filed for bankruptcy or merged with larger companies to stay afloat. As the mergers are finalized, the new fear within the industry is not so much whether the companies will survive, but will the employees? â€Å"Regarding hiring, everybody will be affected,† said Carlos Orta, president and CEO of the Hispanic Association on Corporate Responsibility. Carlos Orta knew everybody will be hurt, but his fears were the impact the freeze and layoffs will have on Hispanics. In all, the financial industry is thought to have lost more than 3000,000 jobs since the crisis started. Mr. Orta predicts that the restructuring of the financial industry will force it to focus more on diversity, because its customers will hold them accountable. He said that JPMorgan, which is now essentially a bank, will have to deal with banking issues. This will be a shock to their system because they don’t subscribe to diversity and never have, he said. The impact the financial crises will have on diversity in the workplace has been the subject of several discus and forums in the last couple of months. The discussion was part of Rev. Jesse Jackson Sr. ’s 12th Annual Rainbow PUSH Wall Street Project Economic Summit. The panel â€Å"The Economic Crisis on Diversity and Diversity Initiatives† explored the economy’s impact on women and people of color in the cooperate world. Many of the panelists weighed whether women and people of color have been disproportionately affected by downsizing due to the weak economy. Diversity in large corporations is definitely hard hit by the financial crisis. In recent years advocacy groups have pushed up the number of blacks and other traditionally underrepresented minorities being hired and promoted by financial firms. This current economic crisis has impacted every sector of the U. S. economy . During tough economic times; organizations are forced to focus on their â€Å"core business†. Projects and Initiatives such as diversity that reside in their support area may be delayed or cut often with trepidation about the potential impact delay will have on efforts to build an inclusive culture. Now, as financial firms and other companies downsize or disappear, many of those hired through diversity initiatives have been losing their jobs. As companies trim their workforce and cut costs to weather a faltering economy, women and minorities brace as they bare the possible brunt of the layoffs. Subha Barry, managing director of global diversity and inclusion at Merrill Lynch said that most of her firms’ diversity initiatives were tied to increasing revenue. In the words of Barbara Thomas, president and CEO of the National Black MBA â€Å" As we all know, when anything goes wrong in this country, black employees are hit harder than most other races† . She also stated that, When America gets a cold, black America gets pneumonia. Diversity hiring in the finance and insurance industries has been on the upswing in recent years. Some people opine that the actual effect on diversity when companies merge or downsize will likely vary according to the companies’ layoff and retention policies. Thomas said the Black MBA organization has been trying to refocus on industries less affected by the financial crisis: health care and biotech, global media and entertainment, energy, and food and beverages. The association she says, has been encouraging its members to pursue these industries. Yvonne Hart, associate director of MBA student programming at the Robert Toigo Foundation, which awards fellowships to minority students at business schools, said her organization has been keeping a close eye on how the financial crisis is affecting minority students. â€Å"We always have concerns about that, and definitely those concerns have intensified over the past 12 months† Hart said her organization has changed its programming in response to the recent turmoil of the past two weeks, adding six sector-focused Web seminars on navigating industries other than investment banking and intensified interview and mentorship guidance. The group also held a town hall-style conference call meeting last week, in which four professionals from the investment banking industry spoke to 130 minority business school students considering careers in finance, giving them insights and career tips on how to move forward in the new financial landscape. It’s not just racial minorities who are concerned. When word broke of Lehman Brothers’ bankruptcy filing, the Forte Foundation, which encourages female MBA candidacies, sent out an e-mail to all the women in their database, reminding them of the career resources the group offers. Apart from the direct impact of layoffs, diversity advocates fear many financial firms will eliminate or cut back human resources or diversity programs. Most industries are already seeing the departure of some top diversity advocates and there are worries that there will be more to come in the next few months. It’s more that the people that are leaving are the ones who were around for years and knew the corporationa and really got what diversity was about. There’s going to be a lot more scrutiny at these companies. If they keep pulling staff, they can’t always justify keeping the programs and partnerships they are supporting. Also at stake is continued corporate sponsorship of diversity organizations. For instance, Management Leadership for Tomorrow, an organization that trains black, Hispanic, and Native American young people for business leadership positions, lists insurance giant American International Group and investment banks Lehman Brothers, Merrill Lynch, and Goldman Sachs as among their corporate sponsors. It is pertinent to note that two of their sponsors have ceased to be in existence. In conclusion, it is evident the concept of diversity will continue to be an intricate aspect of the business environments of today and in the future. Organizations must embrace and understand the importance of diversity in order to remain competitive, respond to globalization and promote innovation and productivity within its organization. Strong commitment and leadership will provide the necessary cultural atmosphere that promotes an inclusive environment. Training, education and effective communication will help execute strong change management practices. The rationale for understanding and managing diversity has never been stronger. As new possibilities and opportunities in the business environment arise, the need for diversity programs will be the key to successful organizations of the future. The world today is more diverse than ever before. Our ethnicity, religion, life experiences and all other personal attributes make us unique individuals. We all need to learn to accept what is different from us and more importantly respect it. In this environment, companies are going to have to be very, very savvy and very smart in terms of maintaining talent in their pipeline that is not just white males and even white females. They need to continually maintain a diversified workforce. There has been no report or research that has proved that diversity initiatives in large corporations is in part responsible for the current financial turmoil the economy is in If you want to really be ahead of the curve in your workforce, you have to pay attention to demographics. The pessimist in me says that diversity will slip down the agenda, for most firms, because in tough times business executives could be tempted to fall back on old, familiar practices rather than introducing innovative new ones. But there was also an optimistic way of looking at things, if companies were going to have to shed staff to cope with the crisis, what better time to restructure their operations so that workforces are more diverse. Since the financial crisis is forcing companies to reassess their core values and part of this process would involve a greater commitment to diversity. With a more diverse mix, companies will become a more wholesome organization which will herald new ways of doing business, post-financial crises era. Companies should embark on mundane diversity initiatives, with programs which will help recruit and retain minorities. Once hired, promotion policies that encourage diversity will ensure the best people get to top management positions, and these will stir these companies to paths of success and profitability. Despite all of the economic turmoil facing the workforce or even because of the turmoil there is a need for large corporations to maintain a strong focus on diversity. There has been no time better that now to invest smartly in diversity.

Obtaining A Life Of Meaning And Purpose In Life Is Something

Obtaining a life of meaning and purpose in life is something that every human being struggles with. Trying to find yourself and locate your value in society. Even today it’s one of the biggest struggles. That feeling of acceptance comes from everything, your back round, your race, your skin color, your religious belief, your political belief. God intended for us to be here in this world but he leaves your meaning and purpose for you to find and seek it through whatever lessons and teachings you find. Martin Luther King JR always preached about human injustice and inequality and this is what the Letter from a Birmingham Jail was about. Nostra Aetate Vatican II had the purpose of creating awareness to the differences we have in cultures and†¦show more content†¦We ask ourselves then how could that have been human? How does someone live a life of meaning and purpose with this treatment. They couldn’t; they had to make the most of it. â€Å"But more basically, I a m in Birmingham because injustice is here.† (121) Attacking the issue, is what God meant. God wants us to live a life of meaning and purpose by addressing the issues and struggles that are given to us. Struggle and troubles in human life is part of the journey, purpose and meaning. We as the catholic tradition have so many struggles. The Letter from Birmingham Jail highlights this question of meaning and purpose in our lives once again with â€Å"We know through painful experience that freedom is never voluntarily given by the oppressor; it must be demanded by the oppressed.† (123) The fact that African Americans felt this way it is hard to live a life of meaning and purpose. Especially when your freedom a right by our Constitution is being taken from you. To have all of these differences in society whether it relates to God or not it wasn’t fair. God intends for life to be hard I believe through all of the teachings and lessons. But still today prejudice and rac ial behaviors exist against African Americans not to the extent to when this letter was written in 1963. Martin Luther King Jr created a non-violent constructive approach to dealing with the injustices that were created. This letter ultimately speaks about how a life of meaning and purpose needs to be given through ourShow MoreRelated money Essay1181 Words   |  5 Pages The Meaning of Success Most people do not find their careers fulfilling or meaningful. Today more and more people are dissatisfied with this situation. Many people consider money to be more important than obtaining a purpose in life. Everyone has a passion deep down inside. You may not be aware of exactly what it is, but it will emerge as life goes on. Once you find this passion or mission, success will fallow. It is not easy to find or create work that truly satisfies the soul. 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