...Introduction AES faces an ethical dilemma. India’s power plant development team can choose between using expensive technology, meeting U.S. environmental standards, or a cost cutting technology meeting local and less stringent standards yet allowing for contributions to other community needs surrounding the projected plant. “Although many people at AES felt that the company would be “selling out” if it did not maintain its strict commitment to the environment in the narrow senses, others felt that AES should expand its concerns to include people and their quality of life” (AES Global Values, 2000). This presents a major ethical dilemma of whether or not the company should continue its traditional focus on meeting “social responsibility” values through CO2-offset programs as the company expands worldwide. Summarize the various issues regarding AES’s commitment to social responsibility There are many issues regarding AES’s commitment to social responsibility, a core part of AES’s culture is the commitment to their shared principles or “corporate values.” These principles describe how the individuals at AES endeavor to commit themselves to the Company’s mission of serving the world by providing “safe, clean, reliable and inexpensive energy.” The first and largest issue of AES’s commitment to social responsibility is that team members “felt that accepting a lower environmental standard in India - even one consistent with local and World Bank requirements - would be abandoning...
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...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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...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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...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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...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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...Descripción AES Gener S.A. (constituida el 19 de Junio de 1981), es una sociedad anónima abierta cuyas acciones se transan en tres bolsas de valores: Bolsa de Comercio de Santiago, la Bolsa de Valores de Valparaiso y la Bolsa Electrónica de Chile. Gener está orientada fundamentalmente a la generación de electricidad en Chile. Su mayor accionista corresponde a Inversiones Cachagua Limitada con él 70,67% de las acciones. Con su parque generador*, proporciona al Sistema Interconectado Central, SIC, energía eléctrica generada a través de cuatro hidroeléctricas de pasada, dos centrales turbogas a petróleo diesel, todas pertenecientes directamente a Gener. También entrega energía eléctrica al SIC mediante una central de ciclo combinado que opera indistintamente con gas natural o diesel, y una central a diesel, ambas pertenecientes a su filial Sociedad Eléctrica Santiago S.A., y por una central termo eléctrica a carbón, perteneciente a la a la filial Empresa Eléctrica Ventanas S.A. Adicionalmente entre energía eléctrica al SIC a través de una central termoeléctrica a carbón perteneciente a la coligada Empresa Eléctrica Guacolda S.A., que opera cuatro unidades a carbón en la isla Guacolda, en Huasco, Región de Atacama. La compañía también es proveedora de energía eléctrica al Sistema Interconectado del Norte Grande, SNG a través de sus filiales. Adicionalmente a su participación en el sector eléctrico en Chile, AES Gener es productora de energía eléctrica en Colombia a través...
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...Theme: There is always going to be information asymmetry between the investors in the public markets and the management inside the company because if everything were out in public, the firm would lose all competitive advantages. To combat this, full and timely disclosure will reduce the adverse selection problem so that markets work better, but adverse selection will never fully disappear. Insights: The fundamental value of a firm will always be larger than the efficient market price of a firm because there is a layer of inside information between the two values. The purpose of financial reporting is to make the publicly available information about the firm increase in order to shrink the gap between the two values. The possibility of adverse selection, insiders profiting off of their insider information at the disadvantage of outside investors, creates estimation risk for investors so they will effectively raise the cost of capital for the firm in order to compensate for this estimation risk. Since the reporting of all inside information is too costly compared to its benefits, the problem of adverse selection will continue to be present. In discussion about full disclosure, we should treat regulation like a “stick” and requires penalties to enforce it. However, the need for regulation will be reduced to the extent that “carrots”, like increased share price and lower cost of capital, begin to motivate full disclosure. These carrot and stick concepts are played out in the...
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...Chapter 2: Success sustaining values Values – Company’s treasure 1. Excellence 2. Innovation 3. Respect 4. Joy 5. Integrity 6. Social profit 7. Teamwork Chapter 3: Leading with values Roles of Value driven leader 1. Articulating the dream – “reason for being”. Company’s aspiration and why are they important. 2. Defining organizational success – define and work towards your dream. 3. Living the values – to do what you believe in. communicating the values at work place. 4. Cultivating leadership – inspired leadership. Existence of middle managers who bring their leadership qualities that sustain success. 5. Asserting values at times of crisis – handling crisis. 6. Challenging the status quo – make things happen. Example Midwest’s CHIP. Perpetual innovation. 7. Encouraging heart – with caring and encouragement leaders uplift the spirits and kindle the energy of people at work who may be wearing down. Chapter 4: Strategic Focus I. A constancy of purpose – Firms benefit from a clear strategy. Core Values (Cant change) -> Core Strategy(rare change) -> Integrated sub strategies (frequent change) -> Execution(continuous change) Core Values – 1. Identify customers 2. Identify purpose 3. Undeserved market segments 4. Serve in superior manner 5. Focus on core strategy Products change, needs don’t! Integrated sub strategies 1. Competitive advantage and sustainable success some from entire...
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...What values appear to be driving the doctors and nurses in the hospitals to treat heart attack patients? From the case study, the eleven hospitals utilize 90 minutes or less to deliver therapy in order to restore blood flow to heart attack patients. The followings are the values that appear to drive the doctors and nurses in the hospitals to treat the heart attack patients: (a) The hospitals are well organized, they have ability to reward high quality performance, and are flexible enough to deal with setbacks. (b) Teamwork is another important value that drives doctors and nurses when treating heart attack patients. This is important because they need to work quickly. (c) All the hospitals shared the same core values, they were committed to reducing delays throughout their process, they provided real-time data feedback to measure success and had innovative protocols and flexibility in refining their protocols. (d) Effective communication and ethics is also critical. Doctors and nurses commit to their profession not only for financial gain, but also because they value human life and want to make a difference in the world by preserving life. They are also sensitive to their patients’ needs. Without these values it would not be feasible for the hospital to maintain their success and reputation of delivering therapy to restore blood flow to heart attack patients in only 90 minutes or less. This huge accomplishment can only be achieved when the foundation and core values of an...
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...Internet marketing strategy of | Intymna.pl | | Ewa Czerechowicz | 2013-06-13 | Content About Intymna.pl 3 Defining values 5 Creating values 7 Communicating values 8 Value delivery 9 Summary 11 About Intymna.pl The company, founded in 2001, is the leader of online lingerie sales in Polish e-commerce. Their offer includes not only underwear, but also: clothing, leather goods, jewelry and cosmetics. Presently Intymna.pl receives over a million visits monthly and fulfils up to 5000 orders every month. Its customers come from 140 countries. The strength of Intymna.pl is its broad range of products, holding brands sold exclusively and high availability of goods which resulted in gaining trust of thousands of satisfied and loyal customers. According to the report E-commerce 2012 it is the third largest online shop in the “fashion” category. It ranked third in this category also in the report of Money.pl, where as many as 60 criteria are taken into account when assessing the polish online shops. The company has for many years been nominated for rankings and competitions, gradually gaining honours and awards, e. g. the main prize in the "Fashion Website Awards 2010" and honourable mention in the editing of the same in 2011, with distinction in Business Wings ranked 2011 in the category of micro-enterprises. The products offered by the company (in particular, own brands) are appreciated by stylists from the biggest Polish media houses, which results...
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...whether these traditional values became more of a liability during the 1990s and early 2000s. Japanese traditional Confucian culture helped Matsushita become a major economic power during the post-war years and through the 1980s. Just as my group-mate Donald has mentioned, Matsushita agreed to take care of its employees for life by providing many benefits, such as subsidized housing, retirement bonuses, and guaranteed lifetime employment. These benefits have been seen as a motivation for employees’ loyalty and commitment to the corporate. Therefore this traditional culture has built up a good industrial relationship in which the employees worked hard and Matsushita reciprocated by fulfilling their needs and wants. However, the prolonged economic slump that began in the 1990s made these commitments difficult to keep. Matsushita was saddled with high expenses and decided to cut the number of employees, in order words, abandon the lifetime employment. And this decision made many employees lose their confidence and loyalty to Matsushita. However, personally speaking, I don’t agree with the saying that traditional culture is a liability for Matsushita at that time. To better understand, I would like to share with you a video clip from Matsushita’s CEO defining about culture. According to Mr. Taylor, culture is dictated by the management team. Culture is the management style and the direction that management supports. Therefore the traditional Confucian value should not be blamed...
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...I want to explain you about Aditya Birla Group, the third largest Indian Multi-National organization. It is head quartered in Mumbai, India. The group consists of 136,000 employees belonging to 42 different nationalities with gross revenue of approximately US $40 billion in the year 2012. This group operates in 36 countries including India. The values of this group were designed to serve its stakeholders. Their mission is to deliver superior value to their customers, shareholders, employees and the society. The terminal values of this group are integrity, commitment, passion, seamlessness and speed. These were mainly concentrated on developing service to their stakeholders, especially the customers. Coming to the instrumental values, they have different rules and conducts for different companies organized by them but all of them were mainly concentrated on providing a pleasant work environment for their employees, which they believe motivates their employees and makes them give their maximum efforts in work. They provide all the facilities to their employees which they want in innovation. The Aditya Birla Group’s CSR- Corporate Social Responsibility has a Centre for Community Initiatives and Rural Development through which they adopted the rural areas around its industries and developing them in all the fields. With regard to their service in development of rural areas, Government of India sharing some funds to them from the Human Development sector of 5 year Plan. All these...
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...obout him eventhough their colour are not same. In this story,Richard always had a same dream that something calling him.The moral values that contained in “Back To The Dreamtime” novel are Good Responds by family, a sense of love, Responsibility, Never give up, and Mutual Respect. I think besides interesting, it is also giving some lessons to the readers. The first of moral values that contained in this novel is good respond by family. It can we see from there are good responds from Mc Donald family to Richard, though Richard is not they the biological child. McDonald family was very closer each other, no jealousy and favoritism. For example, when Sonya (his mother) woke up Richard, Sonya smiled with him and also made him some food. Besides that, Tom and Judy are Richard stepbrother and stepsister, they not jealous each other. The other morale value is a sense of love that they give to Richard like their other child. For example, when Sonya and Joe explain about aboriginal decoration to Richard with carefully like in the text “your father and I love you dearly, and whatever we have ever done has been for your good”. Besides that, Tom and Judy are also dear with Richard. They are always together. They always worried obout him if anything happen to him like his own son. No breaking love at all,just full of love. The third of moral values that contained in this novel is responsibility. In this novel we can see there are responsibilities that author...
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...The Leadership Quarterly 12 (2001) 133 ± 152 Leadership, values, and subordinate self-concepts Robert G. Lorda,*, Douglas J. Brownb a Department of Psychology, University of Akron, Akron, OH 44325-4301, USA b University of Waterloo, Waterloo, Ontario, Canada Abstract This article discusses two means by which leaders can impact on subordinate self-regulatory processes Ð making particular patterns of values salient and activating specific subordinate selfconcepts. Research indicating compatible structures among values and self-identities is discussed, and it is suggested that such structures are automatically related by networks of mutual activation or inhibition. The potential of this framework for advancing leadership practice and research is also discussed. D 2001 Elsevier Science Inc. All rights reserved. 1. Introduction Most definitions of leadership share the common assumption that leaders influence subordinate's task and social behaviors (Yukl, 1992). However, the leadership literature, in general, has paid little attention to understanding the intervening mechanisms by which leaders influence followers. Instead, much of the research has focused on the relationship between a leader's behavior or traits and subordinates' satisfaction, behavior, and performance (Lord & Maher, 1991). In the present paper, we attempt to partially bridge this gap by focusing on two key intervening mechanisms Ð values and self-concepts Ð that link leader characteristics and important...
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...Value Alignment Introduction British Petroleum (BP) is an oil company founded in 1909. They merged with Amoco Corporation in 1998 and became one of the largest oil companies in the world ("Encyclopedia Britannica", n.d.). Working in the oil industry for so long, BP has encountered many issues that have tested the organizations values. Analyzing those values and comparing them to personal values can lead to a better understanding of the organizations actions. Personal and Workplace Values Values are beliefs rooted deep in our subconscious that influence peoples actions and decisions (Gibb, 2010). During childhood, a beginning set of values are derived from interaction with parents, teachers, coaches, and other influential figures. As one matures, critical thinking, and life experiences may change some of these values. However, many of the values learned as a child stay in the subconscious and serve as the basis for many decisions as an adult. Many adults tend to live their lives according to their set of values. Decisions are made according to what feels right or whether it is “the right thing to do.” Some may think their values are universal, but it is important to understand the diversity in values and not become outraged or angry when values held sacred are challenged or violated. Companies establish a set of values or ethics to help ensure the company operates properly and is profitable. These values or ethics are guiding principles that help employees make important...
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