...GRADUATE SCHOOL OF BUSINESS STANFORD UNIVERSITY S HR-3 FEBRUARY 1997 HUMAN RESOURCES AT THE AES CORPORATION: THE CASE OF THE MISSING DEPARTMENT Dennis Bakke, the CEO of AES, a company that develops, builds and operates electric power plants, sat in his office late in 1996 and thought about the question that was perennially posed to him: could AES, soon to have some 25,000 people located literally all over the world following a recent purchase of power plants in Kazakhstan, continue to operate with virtually no staff functions and, specifically, without any human resource staff anywhere in the corporation? The absence of centralized staff — or, for that matter, much staff at all — had been one of the themes guiding the design and operation of the corporation since its founding. The company, in addition to having no personnel department, had no public relations, legal, environmental, or strategic planning departments. Its chief financial officer, Barry Sharp, saw his job not so much as running a centralized finance function but rather as helping all the AES employees as they made important decisions about financing and investments in a very capital intensive business. But the company was becoming much larger and increasingly geographically dispersed. Perhaps those early decisions needed to be rethought. Could what worked for so long continue to work as the corporation grew and operated increasingly on a global basis? Could the advantages of flexibility and having virtually...
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...and developing countries, for appropriate behaviour standards are sterner, penalties for international laws and rules offences are severe. Those against this view I perceive are for monopolistic enterprises and purely to gain profits no matter the means. From the Independent Lens website, the documentary film “Power Trip” by Paul Devlin depicts the challenges faced by the AES Corporation, an American energy company, during its attempt to operate an electric company in Tbilisi the capital of the former Soviet Republic of Georgia, a country that offered substantial economic potential. I strongly believe throughout this particularly interesting film there are several management lessons that relate these issues to the legal business environment, and can help me to be more appreciative of the corporate world mechanisms, my co-workers and business associates who are of different countries, culture and political background. AES, headquartered in Arlington Virginia, USA is one of the world’s largest independent energy companies and utilizes competitive supply, growth distribution and ethical management techniques. AES spent $35 million in 1999 to acquire Telasi, Georgia’s privatized power distribution Company which was formerly state-run. Georgia is strategically positioned in the unstable Caucasus region bordered by the Black Sea, Turkey, Armenia, Azerbaijan and the Russian Federation, and at the time of the film, was led by President Edward Shevardnadze. As seen in the film, the country...
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...Name : Reza Relen Indriyanto NIM : 29110049 RESUME OF HUMAN RESOURCE AT THE AES CORPORATION: THE CASE OF THE MISSING DEPARTMENT From the beginning AES had a strong set of core values and beliefs about people that it worked hard to operational on a continuing a basis, there four values are 1) Integrity 2) Fairness 3) Social responsibility 4) Fun. AES also had a set of core assumptions about people that it tried to use in designing and managing its organization, there are 1)creative 2)responsible 3)fallible 4)Desire to make positive contributions to society, associate with a winner and a cause like a challenge 5) unique person. In fact AES use four measured to assess the company’s performance and progress ; 1) shared values 2) Plant Operations 3) Assets 4) Sales Backlog. AES-Thames had a low turnover as did AES generally, because AES different and special place and people knew it and valued that fact. And when the AES hiring people essentially sought people who would fit with the company, the interviewers typically did not ask technical questions, they believed technical skill could be learned, the questions looked for self-motivated dependable people. Compensations and benefit was determined by looking at what others were being paid, both inside and outside of the company. Information on the performance of the company was widely shared; the measurement philosophy was to focus comparatively more on plant-wide measures of performance. Also the corporation had many conferences...
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...PROLOGUE Fortress of the Light Pedron Niall's aged gaze wandered about his private audience chamber, but dark eyes hazed with thought saw nothing. Tattered wall hangings, once battle banners of the enemies of his youth, faded into dark wood paneling laid over stone walls, thick even here in the heart of the Fortress of the Light. The single chair in the room heavy, high-backed, and almost a throne - was as invisible to him as the few scattered tables that completed the furnishings. Even the white-cloaked man kneeling with barely restrained eagerness on the great sunburst set in the wide planks of the floor had vanished from Niall's mind for the moment, though few would have dismissed him so lightly. Jaret Byar had been given time to wash before being brought to Niall, but both his helmet and his breastplate were dulled from travel and battered from use. Dark, deep-set eyes shone with a feverish, urgent light in a face that seemed to have had every spare scrap of flesh boiled away. He wore no sword - none was allowed in Niall's presence - but he seemed poised on the edge of violence, like a hound awaiting the loosing of the leash. Twin fires on long hearths at either end of the room held off the late winter cold. It was a plain, soldier's room, really, everything well made but nothing extravagant except for the sunburst. Furnishings came to the audience chamber of the Lord Captain Commander of the Children of the Light with the man who rose to the office; the...
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...DESAI Globalizing the Cost of Capital and Capital Budgeting at AES In June 2003, Rob Venerus, director of the newly created Corporate Analysis & Planning group at The AES Corporation, thumbed through the five-inch stack of financial results from subsidiaries and considered the breadth and scale of AES. In the 12 years since it had gone public, AES had become a leading independent supplier of electricity in the world with more than $33 billion in assets stretched across 30 countries and 5 continents. Venerus now faced the daunting task of creating a methodology for calculating costs of capital for valuation and capital budgeting at AES businesses in diverse locations around the world. He would need more than his considerable daily dose of caffeine to point himself in the right direction. Much of AES’s expansion had taken place in developing markets where the unmet demand for energy far exceeded that of more developed countries. By 2000, the majority of AES revenues came from overseas operations; approximately one-third came from South America alone. Once a critical element in its recipe for success, the company’s international exposure hurt AES during the global economic downturn that began in late 2000. A confluence of factors including the devaluation of key South American currencies, adverse changes in energy regulatory environments, and declines in energy commodity prices conspired to weaken cash flow at AES subsidiaries and hinder the company’s ability to service subsidiary...
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...Informe de Estrategia Chile Estrategia de mercado Ruidos en el corto plazo, pero fundamentos intactos IPSA objetivo 5.200 IPSA Actual: 4.329 Luego de un buen desempeño en el año 2010, el mercado local ha registrado una importante corrección en lo que va del año 2011, debido tanto a factores internos como externos. Un principio de año con bajos volúmenes transados como es habitual en esta época, importantes colocaciones realizadas y por venir, sumado a la salida de flujos hacia mercados como el de EE.UU. primero y la incertidumbre proveniente del norte de África y el Medio Oriente después, han mantenido presionada a la bolsa local. Un escenario más incierto debido a la inestabilidad de los países productores de petróleo, situación de Japón y un sesgo al alza en términos de inflación nos lleva a revisar nuestra estimación para el IPSA y fijarla en 5.200 puntos para diciembre de 2011. Estamos ajustando nuestra estimación para el IPSA dado que incorporamos un mayor riesgo al alza de la inflación, lo que potencialmente implica una tasa de política monetaria más restrictiva. Para determinar nuestro target estamos considerando dos metodologías, una utilizando el promedio ponderado de nuestros precios objetivos (Bottom-Up) y la otra con la relación histórica existente entre renta fija y renta variable en el mercado local (Top-Down). Mantenemos nuestra visión de mediano plazo dado que las atractivas valorizaciones abren espacio para retomar la expansión del IPSA. Consideramos que las...
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...European Union Nigerian Energy Support Programme (NESP) The Nigerian Energy Sector An Overview with a Special Emphasis on Renewable Energy, Energy Efficiency and Rural Electrification 2nd Edition, June 2015 Implemented by 2 Acknowledgements This report on the Nigerian energy sector was compiled as part of the Nigerian Energy Support Programme (NESP). NESP is implemented by the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH and funded by the European Union and the German Federal Ministry for Economic Cooperation and Development (BMZ). The authors would like to thank the GIZ Nigeria team for having entrusted this highly relevant subject to GOPA- International Energy Consultants GmbH, and for their extensive and dedicated inputs and guidance provided during implementation. The authors express their gratitude to all project partners who provided particularly valuable and interesting insights into ongoing activities during the course of the project. It was a real pleasure and a great help to exchange ideas and learn from highly experienced management and staff and committed representatives of this programme. How to Read Citations Bibliography is cited by [Author; Year]. Where no author could be identified, we used the name of the institution. The Bibliography is listed in Chapter 10. Websites (internet links) are cited with a consecutive numbering system [1], [2], etc. The Websites are listed in Chapter 11. 3 Imprint Published by: Deutsche Gesellschaft...
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