...Africa is tainted by the widening wage gap between executives and average workers. This has made South Africa one of the most unequal countries in the world. Average Chief Executive Officer (CEO) remuneration increased by 11.5% a year from 2006 to 2009. An average worker would take 8 years to earn what a CEO earns in a 3 month period (Theuissen, 2010). Globalisation, company acquisitions and mergers make businesses more complex and challenging to manage. Companies seek to recruit the best managers who demand higher pay (Templetion, 2007). The involvement of the compensation committee in the setting of the CEOs remuneration may contribute to the higher pay for executives (Reh, 200- ). South Africa has a high level of low skilled labour. Skilled workers are in high demand to drive economic growth. Also, as technology continues to advance, more skilled workers are recruited to operate the high tech machines and they demand higher wages (Sill, 2002). The low wage paid to average workers and the large gap between executive compensation and average workers can have negative emotional effects. It also creates tension between employers and employees which may result in external reactions (Mc Clelland, 2008). Creation of value framework for the remuneration of executives and improved wage structures for the average worker will help narrow the existing wage gap (ASA, 2010). 2. Introduction The widening gap between executive compensation and that of wage earners attract considerable debate...
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...space? How does that differ across cultures? How loud do you normally talk? Is that acceptable everywhere? Low and High Context Cultures Element Low Context High Context Message Internal source External Content Rational Emotional Style Explicit Implicit Channel Informal Formal Pattern General, across situations Context specific Argument Aristotelian Ideological Appeals Facts & objective proof General principles Logic Linear Spiral Touching & Greetings Kissing & hugging vs. Handshakes vs. Bowing Use of titles Professional titles are often important (e.g. Doctor, Professor) Use formal, respectful titles in many cultures (e.g. Signor, Don) rather than names 1 View of Time Do meetings start at the indicated time? Are there times during the day or during the year when business does not get done? Monochronic vs. polychronic view of time How soon until you can “get down to business”? Closing the Deal Group vs. individual decision making Does yes mean “we have a deal”? Is drinking/socializing required? The role of silence Gift Giving Know what is or isn’t appropriate in the culture (e.g. do not give knives to Chinese – means you are “cutting” the relationship.) Flowers are usually appropriate - check with local florist about acceptable colors. Check on customs about gifts between males and females. What is diversity? “The term "diversity" is used broadly to refer to many demographic...
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...have most of their wealth invested in their homes. As for the wealthiest, most of their wealth is invested in the form of business equity, real estate, stocks, bonds, mutual funds, and trusts. This chapter also stresses that wealth does not only create a higher standard of living, but that wealth influences political outcomes. The economic power of the United States is held in large corporations with single corporate owners. Chapter two expands on the information given in chapter one and expands on welfare and education. The main point of the chapter is poverty hurts kids. I will be expanding on the ideas in the two chapters to show that the gap between the wealthy and poverty is extreme and how it effects households, welfare, and education. Section 1.1 concentrates on who owns how much in America, showing the difference between the worker and owner income. “The rich are different from you and me (3)” said F Scott Fitzgerald. The richest ten percent of U.S households own eighty percent of the countries financial assets, such as cash, bank deposits, corporate stocks, and private or public bonds. It is beneficial to be wealthy because you have a cushion that protects you from the fluctuating business cycle. The ups and downs of the business cycle put the working poor and lower middle class at risks when investing in such financial assets. Section 1.2 emphasizes that the very rich, get richer. Its...
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...inequality means that the income is distributed in an uneven manner among a population. It generally refers to a society which the income gap between individuals or groups and also the international wealth gap. The percentage of income to a population is often presented by income inequality. It’s also considered as the gap between the rich and others and has been obviously growing for recently years. There have measures for income inequality. It’s important to view this data sets and measures as it can show the differences of a country, especially the advantages and disadvantages. Income inequality should have a clearer data or picture to explain the differences and can be also obtained by using those measures. The “Gini Coefficient” can measure income inequality. Gini Coefficient is the way to measure the distribution of nation residents’ income. Corrado Gini (Italian statistician and sociologist) is the person who developed and published it. The among values of distribution will be measured by Gini coefficient such as income levels. If everyone has the same income, it will be shown as Zero (perfect equality) in the Gini coefficient. Conversely, if Gini coefficient shows one mean that only got one person have the income, as know as perfect inequality. In the United States, there has been growing obviously for income inequality and the gap between rich and others. According to the report of Gini coefficient, united States have the high income inequality and continuously growing...
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...Global Business Cultural Analysis: China LaTasha Baker GRST 500/501 Abstract Since the beginning of time when Adam and Eve left the garden, people have been increasing the geographic realm of their economics, political, social and ethnicity contacts. People begin connecting with other nationalities all of the world. This relationship provide wealth and progress along with adverse disputes within the relationship of countries (MacEwan, 2001). There are many reasons why companies covet to develop their business to other countries. There are many difficulties and a wide-range of benefits when a company expands globally outside of their cultural. When a company conduct business outside of their zone; research is required, patients, and a learning process. China and the United States has learned how to work international with business over the past years. The alliance between organizations, partnerships and private sectors has been the reason for the growth between the two countries. While concentrating on the customs, culture, language, anti-corruption and economic implications. You will explore the Chinese culture and its impact on local business structures. The comparison of China and the United States in regards to its cultural analysis will be provided, along with the implications for the United States businesses that wish to conduct business in China. Major Elements and Dimensions of Culture in China China Business Ethics Business ethics is the principal...
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...How To Make Restructuring Work for Your Company Published: | October 1, 2001 | Author: | Stuart C. Gilson | Executive Summary: A bungled corporate restructuring can turn a good idea into disaster. In an excerpt from his new book, HBS professor Stuart Gilson outlines the keys for a successful corporate makeover. Plus: Gilson Q&A. About Faculty in this Article: Stuart Gilson is the Steven R. Fenster Professor of Business Administration at Harvard Business School. * More Working Knowledge from Stuart C. Gilson * Stuart C. Gilson - Faculty Research Page Editor's Note: The following excerpt is taken from the "Lessons of Restructuring" section of Gilson's introduction to Creating Value through Corporate Restructuring. Although the case studies in this book span a wide range of companies, industries, and contexts, some common issues and themes emerge. Taken together, they suggest there are three critical hurdles or challenges that management faces in any restructuring program: 1. Design. What type of restructuring is appropriate for dealing with the specific challenge, problem, or opportunity that the company faces? 2. Execution. How should the restructuring process be managed and the many barriers to restructuring overcome so that as much value is created as possible? 3. Marketing. How should the restructuring be explained and portrayed to investors so that value created inside the company is fully credited to its stock price? Failure to address any one of...
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...CSR: Mission or Marketing? The heightened media attention on CSR is at least partially in response to society’s interest in socially conscious businesses. Consumers are willing to pay a premium price for environmentally-friendly brands. At the same time, there is much skepticism as to whether companies are intentionally or accidently misleading consumers. Chipotle, one of the fastest growing fast-casual restaurant chains in the world, declares it serves “Food with Integrity”. What does that mean? The company’s reputation has taken some hits in recent years due to lack of transparency. Lessons have been learned along the way yet there is still a credibility gap. Many wonder if Chipotle is telling the public a feel-good story or the truth. This paper will take a look at the company’s CSR: intent vs. execution vs. depiction. Genetically Modified Organisms GMO’s are plants or animals who have been inserted with a gene from an unrelated species in order to take on specific characteristics (Lee, 2014, p. 1). The push to label GMOs in ingredients has become an escalating, passionate national movement. In 2013, Chipotle was one of first U.S. companies to announce that it would disclose which menu items contained GMOs with the ultimate goal of becoming free of all GMs by the end of 2014. That goal was achieved in 2015 when the...
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...paper will then examine the most common ways an HR employee will interact with the union. This is discussed through grievances and collective bargaining agreement. The process for both of these is examined in detail including which parts of the collective bargaining agreement are mandatory and permissive issues. Next, the paper explores the process a HR manager would go through in order to keep a healthy, happy, and productive relationship with the union. Finally the paper reexamines whether labor unions are necessary in today’s society. A conclusion is drawn based on the author’s personal experience and a summary of the research that was presented. Introduction The majority of United States workers feel like they are not paid fairly, their benefits have gaps, or they were unfairly terminated from a job. Most are unable to act on these feelings because they feel as if they do not have a voice. These feelings were common through the American...
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...The Australian Industry Group Business prospects in 2013: Australia’s gap year? februAry 2013 national CEo survEy: Principal contact person for this report: Julie Toth Chief Economist THE AUSTRALIAN INDUSTRY GROUP Direct Tel: (03) 9867 0124 Julie.Toth@aigroup.asn.au This report was produced with financial support from the Government of Australia’s Productivity, Education and Training (PET) Fund. © THE AUSTRALIAN INDUSTRY GROUP, 2013 The copyright in this work is owned by the publisher, The Australian Industry Group, 51 Walker Street, North Sydney NSW 2060. All rights reserved. No part of this work covered by copyright may be reproduced or copied in any form or by any means (graphic, electronic or mechanical) without the written permission of the publisher. ISBN 978-1-921768-44-6 2 Ai Group National CEO Survey 2013 Business prospects in 2013 Australian Industry Group National CEO Survey Business prospects in 2013: Australia's gap year? Ai Group National CEO Survey 2013 Business prospects in 2013 3 Key messages Business prospects in 2013: Australia's gap year? The Australian economy is going through significant change, with multiple, long-term forces restructuring our economy (such as global growth shifts and our own demographic changes), and ongoing challenges in our immediate outlook (such as the high Australian dollar and our relatively high business cost base). Recent drivers of growth are waning, with capital investment by the mining industry due to peak soon...
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...CAN THE MIDDLE CLASS BE SAVED? ANDREW NELSON MGMT 6400 PROFESSOR R. BING JUNE 14, 2014 CRITICAL ANALYSIS-ACADEMIC LITERATURE The severe economic downturn known as the Great Recession of 2008, has spurred the hastening of the challenges of the middle class in America. It has also highlighted the deepening chasm between the mass populace and the income elite. The resultant course has carved out significant consequences and changes that have widened the gap. The critical question is: what can we do to bridge that gap? According to research by a Citigroup a team of analysts in 2005, it was reported that the average U.S. consumer had essentially retreated relative to the patterns of growth for the U.S. economy. The 2005 report clearly outlined that America was composed of two disparate groups. Simply put, the two groups are the wealthy and everybody else. From an investment standpoint it was further noted that the rich were really the only group that mattered, and that everybody else had very little impact in terms of involvement with investment capital. From an analytical standpoint, the spending habits and savings rates of the second group had little to no impact because all of the influential factors for the American economy were coming from the top. In other words, the wealthiest 1% of households earn as much each year as the bottom 60% put together. Furthermore in terms of wealth, the top 1% possessed as much wealth as the bottom 90%...
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...Chery Auto's Success Story (BSTR 377) ------------------------------------------------- Abstract: China based Chery Automobile is one of the top ten car manufacturers and the leading exporter of cars in the country. Started as an automotive company by the Wuhu government in 1997, Chery designed engines for cars. After finding no buyers for its engines, it decided to build its own car. Chery entered into tie-up with another automotive company which had license to sell cars to retail customers in China. After obtaining its own license, Chery implemented a four-phase strategy to develop its technical strengths. Chery started exporting cars as early as 2001 and became the largest exporter of cars among the Chinese car companies. Chery expanded globally to have its presence in over 70 countries by 2009. | | ------------------------------------------------- Issues: » Study and analyze the competitive strategies of Chinese automobile companies. » Understand how Chery Auto used available resources effectively to manufacture cars. » Examine how a startup company could develop R&D capabilities by collaborating with other firms. » Study the globalization strategies of Chery Auto. » Evaluate the challenges faced by Chery Auto in the near future. ------------------------------------------------- Contents: | Page No. | Introduction | 1 | Background Note | 2 | The Growth Strategy | 3 | Going Global | 5 | The Challenges | 7 | The Road Ahead | 9 | ...
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...American Apparel is a vertically integrated business located in Los Angeles, California. They are a retail company targeting individuals of all ages. They perform all aspects of the business from raw materials all the way to the customer’s shopping bag. ------------------------------------------------- Marketing Strategy and Supply Chain Product In 1989 when American Apparel was founded they began as a wholesale brand selling t-shirts to screen printers and boutiques. Since then it has grown to become a clothing manufacturer, wholesaler, and retailer. As the company grew American Apparel became a duel gender company selling products for men, woman, children, babies and even household pets. CEO Dov Charney uses his creative and almost sometimes wacky mindset to create fashion styles that are very unique that don’t follow the usual fashion trends for customers between the ages of 20-32. Since their wholesale days of selling T-shirts and underwear expressed has branched out by selling products for women including, leggings, leotards, tank tops, denim jeans and vintage clothing. For men products vary from denim jeans, belts, t-shirts, hooded sweatshirts and even shoes. Accessories include nail polish, sunglasses, and even bedding. With a plethora of clothing options and styles, APP always comes to the minds of the more young and free spirited people who are looking for something new and unique to wear. Place Contents * 1 Marketing Strategy and Supply Chain * 1.1 Product...
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...Running Head: WAL-MART STORE INC Wal-Mart Stores Inc. Chrisp, Courtney; Richardson, Maria E.; & White, Sherri Leadership & Org Behavior GM591 Professor: Robert Churilla mariae.richardson@yahoo.com DeVry/Keller University Online 02/17/2013 Introduction Wal-Mart Stores Inc., founded by Sam Walton in 1962, is one of America largest discount department stores. Wal-Mart’s primary mission is to bring consumers high quality goods at a low, discounted price. Wal-Mart operates more than 8,692 retail units across three business segments of retail worldwide that offer a wide array of general merchandise, including groceries, apparel, electronics, and small appliances. In addition, the company is the world’s largest retailer and grocery chain according to sales volume and just over half of their sales comes from grocery items. Over 54% of the company’s stores are located in the United States, with the majority of international stores located in Central and South America, and China. (Jaeah, 2012). Wal-Mart was started in Rogers, Arkansas during the early 1960’s. Sam Walton traveled all around the country researching what consumers wanted in a retail store. When Walton first opened Wal-Mart he “built it under the foundation of honesty, respect, fairness and integrity”. Walton tried to create a culture that shared the same beliefs as he did. Out of his beliefs he chose the three strongest which he felt best suited his store: respect...
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...Q) Career planning and its benefits? What is Career Planning? Career planning is a lifelong process, which includes choosing an occupation, getting a job, growing in our job, possibly changing careers, and eventually retiring. The Career Planning Site offers coverage of all these areas. This article will focus on career choice and the process one goes through in selecting an occupation. This may happen once in our lifetimes, but it is more likely to happen several times as we first define and then redefine ourselves and our goals. Process The career planning process has four steps: Step 1: knowing yourself Step 2: finding out Step 3: making decisions Step 4: taking action Step 1: knowing yourself Begin by thinking about where you are now, where you want to be and how you’re going to get there. Once you have thought about where you are at now and where you want to be, you can work on getting to know your skills, interests and values. Begin by asking yourself the following questions: Where am I at now? Where do I want to be? What do I want out of a job or career? What do I like to do? What are my strengths? What is important to me? At the end of this step you will have a clearer idea of your work or learning goal and your individual preferences. You can use this information about yourself as your personal ‘wish list’ against which you can compare all the information you gather in Step 2: finding out. Your personal preferences are very useful for helping you choose your...
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...Communication in organizations encompasses all the means, both formal and informal, by which information is passed up, down, and across the network of managers and employees in a business. These various modes of communication may be used to disseminate official information between employees and management, to exchange hearsay and rumors, or anything in between. The challenge for businesses is to channel these myriad communications so they serve to improve customer relations, bolster employee satisfaction, build knowledge-sharing throughout the organization, and most importantly, enhance the firm's competitiveness. EFFECTIVE VS. INEFFECTIVE COMMUNICATIONS Perhaps the importance of good communication is best understood by considering what things would be like in its absence. For instance, if a company has no mechanism for recording and transmitting special order requests from its customers, and the employees in the sales and fulfillment areas only interact minimally, there's a good chance that when it receives a special request the company will have difficulty delivering what the customer wants. It may even lose the sale as employees grapple with an unusual request the management hasn't prepared them for. Now consider a company going through a merger. Top executives at the merged entity proclaim that there will be thousands of layoffs to boost efficiency, but management is slow to say who will be affected, what the criteria are for deciding who is laid off, and what the...
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