...PIRELLI TYRE 2009-2011 MANAGEMENT PLAN Francesco Gori CEO & Managing Director Pirelli Tyre Agenda 2008 Tyre Results Industrial Business Consumer Business 2009-2011 Tyre Targets | 1 In 2008 Pirelli Tyre performance was adversely impacted by unforeseeable market conditions Million €, Percent Key Facts 2008 yoy Q1 Q2 31 Q3 76 Q4 74 ∆ Price/Mix +7.3% Profit & Loss Revenues EBITDA (before restructuring costs) % ∆ Exchange Rate -2.8% FY '07 4,162 549 13.2 358 8.6 358 FY '08 4,100 443 10.8 250 6.1 150 ∆% -1.5 -19.2 ∆ Volume -6.0% Impact of raw materials 14 103 88 41 18 EBIT (before restructuring costs) % EBIT (after restructuring costs) -30.2 EBIT +191 ∆ Commercial ∆ Efficiencies -4 ∆ Unit costs & other -295 A dramatic increase in all input costs (raw materials, energy, etc.) A collapse of the OE market, driving sales down by 10.2% in Q4 (5% organic) The decision to provision in 2008 results restructuring initiatives and costs worth 100 ml € Note: unaudited results, pre-closing | 2 Pirelli Tyre 2008 operating and financial performance Million € Raw materials: Labour / energy / other: (72) -195 -73 EBIT bridge (before restructuring costs) 358 263 (268) (268) (5) (15) (11) 250 EBIT 2008 EBIT 2007 Price & mix Volume Cost of inputs Efficiencies Exchange rate Depreciation / other NFP evolution * of which stock: -212 PBIT:...
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...1. What happened to Pirelli in the recent years? PEST analysis (only Technology and Economic Factor Declining market share Data? Why Pirelli left behind its main competitors? 1. Their main operation: only limited to passenger car, truck, and motor tires (general product), lack of specialized product or we can say that they are underutilized their advanced and innovative technology Main competitors? Michelin they have more diversified market segment: including passenger cars, vans, trucks, farm equipment, earthmovers and handling equipment, bicycles, motorcycles and aircraft. Goodyear Goodyear also applies the same approach with Michelin. Their range of product includes the following product: Automobiles, Trucks, Buses, Aircraft, Motorcycles, Farm Implements, Earthmoving and Mining Equipment, Industrial Equipment, and Various other applications Randy search for fuckin picture like pictures above Bridgestone Bridgestone also has more variety product compared to Pirelli. The production including passenger car, commercial tire, aircraft, offroad tires, motorcycles. Continental Similar to Pirelli in market segment passenger tire, Light truck & SUV, Commercial Tires (Bus & Truck Tires) 3. Economic Slowdown in Emerging Markets which are the main contributors for Pirelli Revenue Economic Volatility (Russia) (4% contribution) Irrespective of the wider politico-economic environment, the Russian tire market is known for being something of a roller-coaster...
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... | | | | | | | | | |The cultural and social influences on the buying behaviour process: the Pirelli RE case study | | | | | |IM44 | |Marketing Research Project, Fall semester of 2009...
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...Binder, Gabrielle 2 March 2014 MUSC 1301 Sweeney Todd: Robert E. Lee High School Musical I am not a fan of horror or scary theatrics, so I was a little nervous about going to see Sweeney Todd, even if it was just a high school musical. I was quite impressed overall with the musical. The young actors and actresses did very well performing the story of Sweeney Todd. The story of Sweeney Todd was actually quite interesting. I was shocked that an elderly woman would even think to serve humans in pie form, but I guess she had to do what she felt necessary to keep her business open. The musical was not as scary as I initially thought it would be. The original musical’s music and lyrics were written by Stephen Sondheim. One of the main characters Sweeney Todd was played by Octavio de la Pena. He played his character very well. Throughout the musical Octavio never went out of character and he portrayed the different emotions well. He even used an English accent to go with the setting of the musical. The young man had great diction and his inflection was very natural. He did not sound as though he was acting, but that he was actually feeling each emotion. He also had great diction while singing songs that required him to sing very fast. I was able to understand every word as he sped through lyrics in the songs. I was surprised by one scene when Sweeney Todd actually showed some sort of compassion and allowed an unsuspecting victim to live. Sweeney Todd saw the man’s...
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...included famous buildings such as the Pirelli Tower and other buildings around the globe. He also wrote poetry, painted, and created various designs including home furnishings and kitchen appliances such as a coffee pot. Even his personal correspondence was often illustrated with sketches of his ideas. Ponti is remembered as an artist, architect, writer, innovator, painter, poet, and academic. The unique designs he created still have relevance today, the originals being considered valuable collectors items and many of his furniture designs constantly being re-issued by various manufacturers. His legacy is one which spans over two centuries, and will certainly continue to influence artists and designers well into the future. (Gio Ponti:introduction, 2014) Visual analysis (Pirelli Tower, 2014) The Pirelli tower was the first building in Milan that was higher than the Duomo di Milano cathedral. The building was the highest landmark in Milan for many years and Ponti himself described it as a “graphic slogan” (Design Museum year). This building (Pirelli Tower) created by Ponti, was the design that brought him international fame, as it was a building design which has not been seen before. This building is seen as extremely unique due to its elegantly thin structure and large diamond shaped base. When viewed from above, the skyscraper is a dramatic six-sided diamond shape. (see picture below) Pirelli roof, 2014 You can see the diamond...
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...Bianca Rodricks: [Email address] Bianca Rodricks: [Email address] Abstract Abstract CAse: Foy & Pirelli Motivated or Manipulated? CAse: Foy & Pirelli Motivated or Manipulated? Executive Summary The following report is a comparison and analysis of Foy and Pirelli’s old and new management. The case talks about an employee Ashley who was dissatisfied with her job as she was not even enough responsibility and thus, couldn’t work to her full potential. But after her new boss Mike took over there was a cultural revolution in the company. The issues related to the case are further analyzed using the concepts of Human Resource Management such as Job Design, Human Resource Planning, Job Characteristic Model, Job Analysis etc. The Job Design played a major role in Ashley’s new perception of the job. Jobs under the new management went through the process of Job Enrichment and a further comparison on how the jobs were affected under the new management. The comparison was made against the decision making. Responsibility and task related to the jobs in Foy and Pirelli. The second concept analyzed in the case was the job charactertics model to understand the motivators and demotivators of the old and new management. After a thorough analysis of the five core job dimensions, critical psychological stage and personal and work outcomes it can be said that in Ashleys new job, she was motivated to work to her full potential as compared to her old job. The third concept...
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...Nicolas de Gonneville, Jeremy Lipszyc, Rayan Mekouar Corporate Strategy Cisco System: New millennium – new acquisition strategy? 1. What was unique in the way Cisco managed its acquisitions in the 90’s? During the 90’s, Cisco has based its growth strategy mainly on acquisitions. From the first acquisition of the company called “Crescendo” in 1993, Cisco has bought more than 45 firms until 1999. Cisco can be considered as unique in its way of managing its acquisition deals because of the methodology that they have created and the kind of expertise that they have developed. The Cisco’s acquisition framework focuses on 2 main steps: targeting and integration. § Targeting: In order to enter in niches markets, to acquire a technology, to add a product to its range or to reinforce a specific process, Cisco’s strategy was based on the purchase of smaller and innovative companies. The selection process includes 6 main criteria: -‐ size; focus mainly on small companies, -‐ growth; fast growing companies, -‐ strategy; Cisco is looking for focused companies with a strong expertise, -‐ entrepreneurial spirit, -‐ similarity in culture, -‐ and geographical proximity especially for the largest targets. Cisco is looking for good fit, complementarity of visions, quick wins for shareholders and long terms wins for all stakeholders. § Integration According to Cisco’s management, post-acquisition integration...
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... MARKETING TRENCO STUDY CASE 10.18.11 ISM MBA PROGRAM 1 Laure MULLER BS5 2D Introduction The operating conditions of a tire are more severe in Africa than in the rest of the world, said Alfredo Nembo, sales manager of Pirelli to the African continent. Weather, road conditions, intensive use of vehicles: tires that travel 100,000 km in Europe do not exceed 35 000 km in Africa. But Pirelli has solid experience in areas comparable to those of Africa: South America, Turkey. Our truck tires, for example, are enhanced compared to that Pirelli sells in Europe to better respond to high temperatures and loads. ".The African market and in our subject the Egyptian market is different from what we know in western countries. The marketing approach is different and strategies are not the same. That’s why we’re going...
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...P1 For this assignment I am going to write about the employment trends, progression routes on three different career choices. I am also going to write about why these choices would sustain a long term career for me. The three career choices that I have chosen are Accounting, Marketing and Human Resources (HR). Accounting My first career choice that I am going to write about is accounting. The employment trends for accounting according to one of the world’s leading recruitment agency, the demand for an accountant has been increasing each year. In London the number of jobs for an accountant has increased by 8% and in the Midlands 7%. They have used the data that they sourced from the ‘job index provides real evidence of the expansion of accountancy and finance market.’ (Robert Walter). On the prospect4u website they have a table that shows the progression routes for an accounting career. It starts at either a ‘trainee accountant or an accountant/payroll apprentice’ they then progress to an accountant, then to an accountants manager and finally a financial controller (prospect4u). I think that this would sustain a long term career for me as my strengths are in Maths and Ict. Whereas some people would argue that Excel and numbers are long and tedious I think that they are nice to work with and I already have experience with working in Microsoft office Excel. ‘The average salary for an ACCA trainee is currently around £19,300 per annum, while an ACCA part-qualified can expect...
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...J. Account. Public Policy 27 (2008) 455–461 Contents lists available at ScienceDirect J. Account. Public Policy journal homepage: www.elsevier.com/locate/jaccpubpol On the global acceptance of IAS/IFRS accounting standards: The logic and implications of the principles-based system q Salvador Carmona *, Marco Trombetta IE Business School, Calle Pinar, 15-1B, 28006 Madrid, Spain a r t i c l e i n f o a b s t r a c t The widespread acceptance of International Accounting Standards (IAS)/International Financial Reporting Standards (IFRS) makes it timely to examine their technical determinants as well as their implications for the accounting profession and the process of accounting harmonization. In this respect, we suggest that the principles-based approach to the standards and its inner flexibility enables the application of IAS/IFRS to countries with diverse accounting traditions and varying institutional conditions. Furthermore, the principles-based approach involves major changes in the expertise held by accountants and, hence, in their educational background, training programs, and in the organizational and business models of accounting firms. Finally, we submit that the standards set by the IAS/IFRS constitute a step forward in the process of accounting harmonization, although there is still far to go in the comparability of accounting measures across countries and regions. Ó 2008 Elsevier Inc. All rights reserved. Keywords: Globalization Accounting harmonization...
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...Michelin II – The treatment of rebates* Massimo Motta 1 European University Institute, Florence, and Universitat Pompeu Fabra, Barcelona 27 November 2006 Forthcoming in a book on EU competition case studies, edited by Bruce Lyons (Cambridge U.P.). The author has not been involved in this case, and his information about the case was only and exclusively drawn from public sources, such as the Commission Decision and the Court of First Instance’s Judgment. I am very grateful to Chiara Fumagalli and Liliane Karlinger for their comments on a previous draft. 1 * 1 1. Introduction In 2001, the European Commission found that the French firm Michelin had – via its various types of rebates - abused its dominant position in the French markets for new replacement tyres and retreaded tyres for heavy vehicles, and imposed a fine of EUR 19.76 million to Michelin. 2 Two years later, the Court of First Instance upheld the Commission’s Decision in its entirety. 3 In many respects, this case is exemplary of the strict formalistic approach followed in abuse of dominance cases by the European Commission and the Community Courts, which severely limit the possibility of dominant firms to resort to certain business practices, such as exclusive dealing, rebates, tying. Indeed, the EU case law has so far disregarded the actual effects of the allegedly abusive practices (the Commission does not need to prove that exclusionary effects have indeed taken place, nor does it need to show that...
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...Cisco systems were founded in December 1984 in California, by a husband and wife team from Stanford University, Leonard Bosack and Sandra Lerner. At Stanford, Bosack found a way to connect the two local area networks where he and his wife worked, 500 yards across campus. ! They initially tried to sell the inter networking technology that Bosack had developed to computer companies, but none were interested. With no buyers they decided top start their own company, Cisco Systems. ! Cisco’s primary product from the beginning was the inter networking router; a hardware device incorporating software that automatically selects the most effective route for data to flow between networks. Cisco thus became the first company to provide a multi-protocol router when it shipped its first product in 1986. One year later after initial start, Cisco was selling $250,000 worth of routers per month. Sales for the fiscal year ending July 1987 were 1.5 million, and the company had only eight employees at the time. ! In the beginning, Cisco marketed its routers to universities, research centers, the aerospace industry, and government facilities by contacting computer scientists and engineers via ARPANET. In 1988 the company began to target its internetworking routers to mainstream corporations with offices in multiple locations that used different networks. ! Cisco had a high rate of sales growth in the early years, however they were increasing in need of cash if they were going to continue...
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...F512 M F512 M Production 1994–1996 (500 produced)[3][21] Predecessor 512 TR Successor Ferrari 550 Maranello Engine 4.9 L flat-12 328.1 kW (440 hp)[7][22] Wheelbase 2,550 mm (100.4 in)[7] Length 4,480 mm (176.4 in)[7] Width 1,976 mm (77.8 in)[7] Height 1,135 mm (44.7 in)[7] Curb weight 1,455 kg (3,207.7 lb)[7] [edit] Engine The F512 M sports a 4.9 litre (4,943 cubic centimetres / 302 cubic inches) Ferrari Colombo Flat-12 engine longitudinally mid mounted.[5][22] This provides a maximum torque of 500 newton metres (369 ft·lbf) at 5500 rpm and a maximum power of 328.1 kilowatts (446 PS; 440 hp) at 6750 rpm.[7][22] Each cylinder has four valves, for forty-eight valves total, lubricated via a dry sump system, with a compression ratio of 10.40:1.[7][22] Due to new titanium connecting rods and a new crankshaft that together weigh 7.26 kilograms (16 lb) less than those that they replace, the engine can spin up to and thus tolerate 7500 rpm, its electronic cutoff limit.[4] The Ferrari F512 M can accelerate from 0–100 km/h (62 mph) in 4.70 seconds,[4][22] on to 161 km/h (100 mph) in 10.20 seconds,[7] and it can complete a standing (from stationary) quarter mile in 12.70 seconds or a standing kilometre in 22.70 seconds.[7] The maximum speed of the F512 M is 315 kilometres per hour (196 mph).[7][21][22] Gear Final Drive Ratio[7] 3.31:1 [edit] Exterior The front and rear lamps received a design change. The front lamps are now square framed lamps that...
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...Motorbike Motorbike Ducati Multistrada 1200 The only bike you ever need to own Words by Govind It was Marcel Bode, the GM at Ducati Dubai, who introduced us to the Multistrada (MTS). We could have forever remained ignorant of this gem of a machine if not for his insistence to try it out. This might be the only bike you ever need to own. To make a comparison, the MTS is like a 12400mm f/2.8 SLR lens. And that’s a lens that doesn’t exist. The MTS is a safe bet if you are looking to get back on two wheels. It is multitalented, adequately powerful, seats two very comfortably and rewards the novice as well as experienced riders well with its ability to please beyond boundaries. The name itself means the bike is meant to be ridden over multiple types of roads. In fact, Ducati has engineered the MTS to be 4 bikes in 1. And boy, disappoint it does not! A gadget geek will be head-overheels with the MTS. The key fob can be forgotten in your jeans pocket. Keyless really is the way to go. Slide a switch downwards near the throttle to release the handle lock, flick it back up to reveal the starter button, and the very clear and informative main and sub LCD display lights up colorfully with a system check. The top end model we tried had all juicy acronyms standard with it. The most interesting ones being the Ducati Electronic Suspension (DES) developed with Ohlins, Bosch Brembo ABS and Ducati Traction Control (DTC). These three are interlinked to allow the rider to customize the...
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...of his trade to slit their throats. Below Todd's old barber shop is now a meat pie shop run by Mrs. Lovett, who admits to making the worst meat pies in London. She tells Todd that Lucy poisoned herself after being raped by Turpin, and that Johanna, now a young woman, is Turpin's ward. Johanna and a young honorable sailor named Anthony Hope, who Todd met, sailing into London, have fallen in love with each other from afar. Much like his feelings for Lucy, Turpin lusts after Johanna and wants to marry her, and thus he will do whatever he needs to get Anthony out of the way. Back at the barber shop, Todd changes his plans for revenge solely on Turpin and Beadle out of circumstance, which includes an encounter with a rival barber named Adolfo Pirelli and a close encounter with Turpin himself. Including Turpin and Beadle, Todd's revenge is now directed at all mankind that has wronged him. Todd is helped in his new endeavour by Mrs. Lovett, who has an interesting role in their collective scheme. Todd...
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