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ASSIGNMENT

Course Code Course Title Assignment Code Coverage

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MS-91

 

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Advanced Strategic Management MS - 91/TMA/SEM-II/2012 All Blocks

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1. Distinguish between the Internal and External determinants of Corporate Policy and analyze how they are important in the present corporate scenario?

Solution:-

corporate policy

the present corporate scenario? Solution:- corporate policy Usually, a documented set of broad guidelines, formulated

Usually, a documented set of broad guidelines, formulated after an analysis of all internal and external factors that can affect a firm's objectives, operations, and plans. Formulated by the firm's board of directors, corporate policy lays down the firm's response to known and knowable situations and circumstances. It also determines the formulation and implementation of strategy, and directs and restricts the plans, decisions, and actions of the firm's officers in achievement of its objectives. Also called company policy.

==================== External Environment: introduction to the external environment

Introduction

A business does not operate in a vacuum. It has to act and react to what happens outside the factory and office walls. These factors that happen outside the business are known as external factors or influences. These will affect the main internal functions of the business and possibly the objectives of the business and its strategies.

Main Factors

The main factor that affects most business is the degree of competition – how fiercely other businesses compete with the products that another business makes.

The other factors that can affect the business are:

Social – how consumers, households and communities behave and their beliefs. For instance, changes in attitude towards health, or a greater number of pensioners in a population.

Legal – the way in which legislation in society affects the business. E.g. changes in employment laws on working hours.

Economic – how the economy affects a business in terms of taxation, government spending, general demand, interest rates, exchange rates and European and global economic factors.

Political – how changes in government policy might affect the business e.g. a decision to subsidise building new houses in an area could be good for a local brick works.

Technological – how the rapid pace of change in production processes and product innovation affect a business.

Ethical – what is regarded as morally right or wrong for a business to do. For instance should it trade with countries which have a poor record on human rights.

Changing External Environment

Markets are changing all the time. It does depend on the type of product the business produces, however a business needs to react or lose customers.

Some of the main reasons why markets change rapidly:

Customers develop new needs and wants.

New competitors enter a market.

New technologies mean that new products can be made.

A world or countrywide event happens e.g. Gulf War or foot and mouth disease.

Government introduces new legislation e.g. increases minimum wage.

Business and Competition

Though a business does not want competition from other businesses, inevitably most will face a degree of competition.

The amount and type of competition depends on the market the business operates in:

Many small rival businesses – e.g. a shopping mall or city centre arcade – close rivalry.

A few large rival firms – e.g. washing powder or Coke and Pepsi.

A rapidly changing market – e.g. where the technology is being developed very quickly – the mobile phone market.

A business could react to an increase in competition (e.g. a launch of rival product) in the

following ways:

Cut prices (but can reduce profits)

Improve quality (but increases costs)

Spend more on promotion (e.g. do more advertising, increase brand loyalty; but costs money)

Cut costs, e.g. use cheaper materials, make some workers redundant

Social Environment and Responsibility

Social change is when the people in the community adjust their attitudes to way they live. Businesses will need to adjust their products to meet these changes, e.g. taking sugar out of children’s drinks, because parents feel their children are having too much sugar in their diets.

It is also important to consider the effects a business can have on the local community.

These are known as the social benefits and social costs.

A social benefit is where a business action leads to benefits above and beyond the direct benefits to the business and/or customer. For example, the building of an attractive new factory provides employment opportunities to the local community.

A social cost is where the action has the reverse effect – there are costs imposed on the rest of society, for instance pollution.

DUE TO THE GLOBALIZATION, THE IMPORTANCE OF EXTERNAL AND INTERNAL DETERMINANTS ON THE CORPORATE POLICY HAVE INCREASED.

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2.

Identify a Chairman and a CEO of a Company and assess how they have performed their respective functions?

CHAIRMAN

ShriMukesh D. Ambani - Chairman & Managing Director

Shri Mukesh D. Ambani

is a Chemical Engineer from the Institute of Chemical Technology, Mumbai (earlier the

University Department of Chemical Technology, the University of Bombay). He has pursued

MBA from Stanford University, USA.

He joined Reliance in 1981 and initiated Reliance's backward integration journey from

textiles into polyester fibres and further into petrochemicals, petroleum refining and going

up-stream into oil and gas exploration and production. He created several new world-class

manufacturing facilities involving diverse technologies that have raised Reliance's

petrochemicals manufacturing capacities from less than a million tonnes to about twenty

million tonnes per year.

He led the creation of the world's largest grassroots petroleum refinery at Jamnagar, with a

current capacity of 33 million tonnes per year integrated with petrochemicals, power

generation, port and related infrastructure. Further, he steered the setting up of another

27 million tonnes refinery next to the existing one in Jamnagar with an aggregate refining

capacity of 1.24 million barrels of oil per day at any single location in the world which has

transformed "Jamnagar" as the 'Refining Hub of the World'.

He is the Chairman, Board of Governors of the Indian Institute of Management, Bangalore,

Chairman of PanditDeendayal Petroleum University, Gandhinagar. He is also Co-Chair of

India-Russia CEO Council and Co-Chair of Japan-India Business Leader's Forum, a Member

of the Governing Board of Public Health Foundation of India (PHFI).

He has been appointed as a Director by the Board of Directors of the Bank of America

Corporation on its Board. He is the first non-American to occupy such a position.

At RIL, ShriMukesh He is the Chairman of Reliance Retail Limited, a Director of Reliance

Infotel Broadband Services Limited, Reliance Foundation, IMG Reliance Private Limited and

Reliance Europe Limited.

At RIL, he is the Chairman of the Finance Committee and a Member of the Employees

Stock Compensation Committee.

He is Promoter of the Company and holds 36,15,846 shares of the Company in his name as on March 31, 2011.

Highlights

Turnover :

PBDIT :

Cash Profit :

Net Profit :

Net Profit 10 years CAGR :

Total Assets :

Rs.3,39,792 Crore ($ 66,790 million)

Rs. 39,811 Crore ($ 7,825 million)

Rs. 31,994 Crore ($ 6,289 million)

Rs. 20,040 Crore ($ 3,939 million)

20%

Rs. 2,95,140 Crore ($ 58,013 million)

Significant contribution to India's economic growth

14% of India's total exports

5.5% of the Government of India's indirect tax revenues

4% of the total market capitalisation in India

9.3% Weightage in the BSE Sensex

7.8% Weightage in the NSE Nifty

Growing importance across the globe

Largest refining capacity at any single location

Largest producer of Polyester Fibre and Yarn

5th largest producer of Paraxylene (PX) and Polypropylene (PP)

8th Largest producer of Purified Terephthalic Acid (PTA) and Mono Ethylene Glycol (MEG)

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CEO

YogeshChanderDeveshwar thinks that ITC Ltd could be a model for running India's state-owned companies. That is because banks and public financial institutions hold about 35 per cent of ITC, and have been a strong counterfoil to British American Tobacco Plc, which owns 31 per cent and was trying hard to take full control of its Indian associate back when Deveshwar took the rudder.

The antagonism of the 1990s seems to be history. Back then, the Anglo-American giant wanted ITC to stick to cigarettes. "According to what they tell me now, they say that what has been done here is actually right for India," Deveshwar says. ITC ranks No.6 on the BT500 list, and Larsen & Toubro No.12, and both happen to be among India's largest 'board-managed' companies. Deveshwar is third on the list of the BT- INSEAD-HBR study on India's best CEOs between 1995 and 2011.

"I would say that companies like L&T and ITC can be the models for what the public sector can become tomorrow," he told BT in an exhaustive conversation in his

wood-panelled office

House in Kolkata.

at

the

1920s

Virginia

Deveshwar does own 3.4 million shares of ITC as of December 31, but at least his name is not eponymous with his company's. He has risen through the ranks, and he

has bucked many trends. He did enjoy a 'runway effect', as the authors of the BT- INSEAD-HBR study put it, when he took over a company in crisis, but he did not come armed with an MBA. "I may not have been a business graduate, but the opportunity I got very early on in ITC actually grew me," he says. "I would say that since I was not an MBA, I began on the shop floor, from under the machines. So I have started from running shifts. And started running with holding the toolbox with

the fitters. So it gave me a much closer feel for the grass roots of the organisation.

Then

quick breaks."

I

got

very

CEO COMPETENCIES

Leadership Skills

Communicates a compelling Vision and sense of core purpose, enlisting staff and others, and inspiring their allegiance to its fulfillment.

Espouses an appropriate set of core values and beliefs during both good and adverse times, and acts consistently in line with those values. Practices what he preaches.

Creates a climate conducive to an attitude of integrity, trust and professionalism, irrespective of job role, such that everybody wants to do his/her best.

Motivates staff to perceive their jobs as an avocation, much as they feel about pastimes, and to find ways for them to experience the same kinds of satisfaction.

Communicates with, motivates and coordinates the efforts of a large and influential force of member-volunteers supplemental staff, ensuring that they participate in development and effective implementation of programs that are needed and wanted by members.

Helps others to rise above self-limiting mindsets and constraints to make full use of their capabilities.

Encourages an attitude of lifelong learning to develop new skills that enable continued personal and career growth.

Builds team spirit, effectively blends people into teams when needed, and develops an appreciation for the value of the diversity that is generated by team cooperation.

Management Skills:

Sets standards of performance; gives feedback on performance, or lack thereof, to those standards; coaches for improved performance and development.

Oversees projects and delegated assignments to ensure they are completed on schedule and within budget, and that results meet defined expectations.

Relishes the command role, including unpopular stands as necessary, encourages debate, deals directly with adversity, and handles timely decision-making in an equitable and caring manner.

Prepares, implements, monitors and adjusts budgets to remain within approved expenditure limits.

Establishes and uses records, reports and other techniques to identify and track performance accountabilities.

Defines tasks, selects assignees, negotiates performance parameters and priorities, delegates authorities & accountabilities, supports rigorous problem-solving disciplines, and manages progress.

Attends to workplace and employment concerns and regulatory

considerations, to ensure employees have a wholesome environment conducive to high performance and employment longevity.

Listens actively, speaks and writes clearly and succinctly suitable for a variety of applications and settings, and communicates to get the message across and achieve desired results.

Interpersonal Skills:

Relates to all kinds of people, uses diplomacy and tact, is able to diffuse tense situations, and builds rapport and constructive relationships.

Exercises patience and tolerance, and characteristically listens and tests to understand both the data and the people ramifications before acting.

Displays compassion about people’s work and non-work difficulties and is available to help; and is composed under pressure, dealing well with frustrations and not becoming defensive or aggressive.

Skilled at finding common ground to solve problems, and accurately reads conflict situations quickly and hammers out cooperative agreements with minimal disruption.

Knows personal strengths and limits and handles them appropriately, and assesses the need to modify personal behaviors to deal with changing demands and personalities.

Displays approachability and a positive and constructive sense of humor, and is able to ease tensions.

Organization & Planning Skills:

Marshals resources and uses them effectively and efficiently to orchestrate multiple activities and get things done.

Copes effectively and shifts gears comfortably dealing with change, maintains composure amidst uncertainty and can simultaneously manage multiple activities.

Scopes out accurately the difficulty of projects, sets objectives and goals, breaks down work into process steps, develops schedules and assignments, establishes measures and evaluates results.

Looks toward the broad perspectives of issues and challenges, can presuppose future scenarios, and thinks globally.

Sees ahead clearly, can articulate credible pictures of possibilities and likelihoods, and can create breakthrough strategies and plans.

Facilitates effectively the business processes and tasks activities of large, diverse workgroups comprised of staff and volunteers.

Results Orientation:

Focuses on customer service and is dedicated to meeting requirements and expectations of internal and external “customers”.

Acts with customers in mind, gaining their trust and respect, and establishing and maintaining effective relationships.

Exudes energy, is action oriented, enjoys working diligently, and can act with a minimum of planning in the face of uncertain circumstances.

Consistently can be relied on to achieve or exceed goals and is very bottom-line oriented, steadfastly urging himself and others for results.

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3.

Explain the basis of classification of markets with special reference to impact

of regulation on market competition.

Usually, Market means a place where buyer and seller meets together in order to

carry on transactions of goods and services.

But in Economics, it may be a place, perhaps may not be. In Economics, market

can exist even without direct contact of buyer and seller. This fact can be explained with the help of the following statement.

Thus, above statement indicates that face to face contact of buyer and seller is

not necessary for market. E.g. in stock or share market, buyer and seller can

carry on their transactions through internet. So internet, here forms an arrangement and such arrangement also is included in the market.

and such arrangement also is included in the market. Classification or Types of Market - Chart

Classification or Types of Market - Chart

The classification or types of market are depicted below.

The classification or types of market are depicted below. On the basis of Place, market is

On the basis of Place, market is classified into:

1. Local Market or Regional Market.

2. National Market or Countrywide Market.

On the basis of Time, market is classified into:

1. Very Short Period Market.

2. Short Period Market.

3. Long Period Market.

4. Very Long Period Market.

On the basis of Competition, market is classified into:

1. Perfectly competitive market structure.

2. Imperfectly competitive market structure.

Both these market structure widely differ from each other in respect of their

features, price etc. Under imperfect competition, there are different forms of markets like monopoly, duopoly, oligopoly and monopolistic competition.

1.Market - Meaning in Economics :

1.Market - Meaning in Economics Market is commonly thought of as a place where commodities are bought and sold and where buyers and sellers are meet. In fact, anything which has a price has a market. In economics to be called as a market, the idea of locality or place is not necessary. There need be no physical entity corresponding to a market. It may for example, consist of network of telecommunications across the world, say shares are traded".

Classifaction of Markets :

Classifaction of Markets Markets can be classified on the basis of (1) area covered, (2) time and (3) degree of competition. According to the area, markets can be of three types (a) local (b) national (c) International.

Local Market : :

Local Market : When demand and supply of a commodity is restricted to a particular locality, it is called a local market. For example, vegetables, milk, flowers, fish etc. For such perishable goods, buyers and sellers are located only in particular locality where these goods are usually available.

National Market : :

National Market : When demand and supply of a commodity are spread over the entire nation, we have a national market. For example, wheat, sugar, medicines etc. Goods available in the local markets may also have national market.

International Market :

International Market When a commodity enjoys demand and supply from the entire world, it is said to have International market or world market. Gold silver, electronic goods are the examples for goods having international market.

On the basis of 'time' :

On the basis of 'time' On the basis of 'time' markets are classified into three types : 1.Very Short Period : It is also called as market period. This is the time period in which supply remains constant. The price paid in this time period is called market price or very short period price. 2. Short Run : This is the time period in which supply can be altered to some extent by changing the variable factors of production. 3. Long Run : This is the time period in which complete adjustment in supply is possible. Supply of a commodity can be increased or decreased according to the changes in demand. In long run, all factors become variable. For instance, if demand for cotton cloth increases in the long run, the capital equipment can be altered and the equilibrium between the demand and supply can be achieved.

Based on competition: :

Based on competition: Based on competition, markets can be classified as perfect and imperfect markets : 1.Perfect Competition Market : There is a perfect competition among the buyers and sellers. Prevalence of the same price for the same commodity at the same time is the essential feature of this market. Buyers and sellers accept the price determined in the market.

Imperfect Competition Market :

Imperfect Competition Market In this market, competition is imperfect amongst the buyers and sellers. Different prices come to prevail for the same commodity at the same time. Imperfect market can take several forms. 1) Monopoly. 2) Duopoly . 3) Oligopoly . 4) Monopolistic Competition.

Monopoly :

Monopoly It is a market in which a single firm or seller controls the entire supply of the commodity which has no close substitutes. The price or output in a monopoly market is not influenced by other goods.

Duopoly :

Duopoly It is a market where there are only two sellers. A change in the price and output by one seller affects the other. When a duopolist takes a decision, he takes into account the reaction of his rival.

Oligopoly :

Oligopoly There are few sellers in this market dealing in differentiated products. As the number is small, each firm can influence the price and output decisions of its rival firms. Interdependence is one of the importance feature of the market. Homogeneity of goods may or may not exist

Monopolistic Competition :

Monopolistic Competition In this market, many firms produce differentiated products. The commodities produced are close substitutes of one another. Thus in monopolistic competition the goods are produced with slight differences. The commodities produced are close substitutes of one another.

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4. Describe the two sources and types of knowledge and explain their

contribution in Knowledge Management.

Sources of Knowledge

Each of us possesses a great deal of knowledge. We know about ourselves; we know about the world around us; we know about abstract concepts and ideas. Philosophers have often wondered where this knowledge ultimately comes from.

Of course, we learn a lot of things from books, from the media, and from other people. To process information from these sources, however, we must already know many things:

how to read, how to reason, who to trust. To learn these things requires yet more knowledge. What, then, is the most fundamental way of acquiring knowledge?

There are two competing traditions concerning the ultimate source of our knowledge:

empiricism and rationalism.

Empiricism

Empiricists hold that all of our knowledge is ultimately derived from our senses or our experiences. They therefore deny the existence of innate knowledge, i.e. knowledge that we possess from birth. Empiricism fits well with the scientific world-view that places an emphasis on experimentation and observation. It struggles, however, to account for certain types of knowledge, e.g. knowledge of pure mathematics or ethics.

Rationalism

Rationalists hold that at least some of our knowledge is derived from reason alone, and that reason plays an important role in the acquisition of all of our knowledge. There is clearly a limit to what we can learn through abstract thought, but the rationalist’s claim is that reason play a role in observation, and so that the mind is more fundamental than the senses in the process of knowledge-acquisition

The Different Types of Knowledge

Understanding the different forms that knowledge can exist in, and thereby being able to distinguish between various types of knowledge, is an essential step for knowledge management (KM). For example, it should be fairly evident that the knowledge captured in a document would need to be managed (i.e. stored, retrieved, shared, changed, etc.) in a totally different way than that gathered over the years by an expert craftsman

Over the centuries many attempts have been made to classify knowledge, and different fields have focused on different dimensions. This has resulted in numerous classifications and distinctions based in philosophy and even religion. Though not directly related to our purpose here, the wikipedia article on knowledge provides some interesting background reading (go to article).

Within business and KM, two types of knowledge are usually defined, namely explicit and tacit knowledge. The former refers to codified knowledge, such as that found in documents, while the latter refers to non codified and often personal/experience-based knowledge.

KM and organisational learning theory almost always take root in the interaction and relationship between these two types of knowledge. This concept has been introduced and developed by Nonaka in the 90's (e.g. Nonaka 1994) and remains a theoretical cornerstone of this discipline. Botha et al (2008) point out that tacit and explicit knowledge should be seen as a spectrum rather than as definitive points. Therefore in practice, all knowledge is a mixture of tacit and explicit elements rather than being one or the other. However, in order to understand knowledge, it is important to define these theoretical opposites.

Some researchers make a further distinction and talk of embedded knowledge. This way, one differentiates between knowledge embodied in people and that embedded in processes, organizational culture, routines, etc. (Horvath 2000). Due to the rather different managerial demands, I will treat this type of knowledge in its own separate category.

Below I present an overview of these three categories, as well as a short discussion on the way knowledge management systems (KMS) can/cannot be used to manage them. These three types of knowledge will be used exclusively on this site.

Explicit Knowledge

This type of knowledge is formalized and codified, and is sometimes referred to as know- what (Brown &Duguid 1998). It is therefore fairly easy to identify, store, and retrieve (Wellman 2009). This is the type of knowledge most easily handled by KMS, which are very effective at facilitating the storage, retrieval, and modification of documents and texts.

From a managerial perspective, the greatest challenge with explicit knowledge is similar to information. It involves ensuring that people have access to what they need; that important knowledge is stored; and that the knowledge is reviewed, updated, or discarded.

Many theoreticians regard explicit knowledge as being less important (e.g. Brown &Duguid 1991, Cook & Brown 1999, Bukowitz& Williams 1999, etc.). It is considered simpler in nature and cannot contain the rich experience based know-how that can generate lasting competitive advantage.

Although this is changing to some limited degree, KM initiatives driven by technology have often had the flaw of focusing almost exclusively on this type of knowledge. As discussed previously, in fields such as IT there is often a lack of a more sophisticated definition. This has therefore created many products labeled as KM systems, which in actual fact are/were nothing more than information and explicit knowledge management software.

Explicit knowledge is found in: databases, memos, notes, documents, etc. (Botha et al.

2008)

Tacit Knowledge (Embodied Knowledge)

This type of knowledge was originally defined by Polanyi in 1966. It is sometimes referred to as know-how (Brown &Duguid 1998) and refers to intuitive, hard to define knowledge that is largely experience based. Because of this, tacit knowledge is often context dependent and personal in nature. It is hard to communicate and deeply rooted in action, commitment, and involvement (Nonaka 1994).

Tacit knowledge is also regarded as being the most valuable source of knowledge, and the most likely to lead to breakthroughs in the organization (Wellman 2009). Gamble & Blackwell (2001) link the lack of focus on tacit knowledge directly to the reduced capability for innovation and sustained competitiveness.

KMS have a very hard time handling this type of knowledge. An IT system relies on codification, which is something that is difficult/impossible for the tacit knowledge holder.

Using a reference by Polanyi (1966), imagine trying to write an article that would accurately convey how one reads facial expressions. It should be quite apparent that it would be near impossible to convey our intuitive understanding gathered from years of experience and practice. Virtually all practitioners rely on this type of knowledge. An IT specialist for example will troubleshoot a problem based on his experience and intuition. It would be very difficult for him to codify his knowledge into a document that could convey his know-how to a beginner. This is one reason why experience in a particular field is so highly regarded in the job market.

The exact extent to which IT systems can aid in the transfer and enhancement of tacit knowledge is a rather complicated discussion. For now, suffice it to say that successful KM initiatives must place a very strong emphasis on the tacit dimension, focusing primarily on the people involved, and they must understand the limitations imposed by computerized systems.

Tacit knowledge is found in: the minds of human stakeholders. It includes cultural beliefs, values, attitudes, mental models, etc. as well as skills, capabilities and expertise (Botha et al 2008). On this site, I will generally limit tacit knowledge to knowledge embodied in people, and refer separately to embedded knowledge (as defined below), whenever making this distinction is relevant.

Embedded Knowledge

Embedded knowledge refers to the knowledge that is locked in processes, products, culture, routines, artifacts, or structures (Horvath 2000, Gamble & Blackwell 2001). Knowledge is embedded either formally, such as through a management initiative to formalize a certain beneficial routine, or informally as the organization uses and applies the other two knowledge types.

The challenges in managing embedded knowledge vary considerably and will often differ from embodied tacit knowledge. Culture and routines can be both difficult to understand and hard to change. Formalized routines on the other hand may be easier to implement and management can actively try to embed the fruits of lessons learned directly into procedures, routines, and products.

IT's role in this context is somewhat limited but it does have some useful applications. Broadly speaking, IT can be used to help map organizational knowledge areas; as a tool in reverse engineering of products (thus trying to uncover hidden embedded knowledge); or as a supporting mechanism for processes and cultures. However, it has also been argued that IT can have a disruptive influence on culture and processes, particularly if implemented improperly.

Due to the difficulty in effectively managing embedded knowledge, firms that succeed may enjoy a significant competitive advantage.

Embedded knowledge is found in: rules, processes, manuals, organizational culture, codes of conduct, ethics, products, etc. It is important to note, that while embedded knowledge can exist in explicit sources (i.e. a rule can be written in a manual), the knowledge itself is not explicit, i.e. it is not immediately apparent why doing something this way is beneficial to the organization.

KNOWLEDGE MANAGEMENT PLANNING& DEVELOPMENT

PHASE 1: INFRASTRUCTURAL EVALUATION Step 1: Analyzing existing infrastructure Step 2: Aligning knowledge management and business strategy

PHASE 2: KM SYSTEM ANALYSIS, DESIGN, AND DEVELOPMENT

Step 3: Designing the knowledge management architecture and integrating existing infrastructure Step 4: Auditing and analyzing existing knowledge Step 5: Designing the knowledge management team Step 6: Creating the knowledge management blueprint Step 7: Developing the knowledge management system

PHASE 3: DEPLOYMENT Step 8: Deploying with RDI methodology

Step 9: Change management, culture, reward structure design, etc

PHASE 4: PERFORMANCE EVALUATION

Step 10: Measuring results of knowledge management, devising ROI metrics, and evaluating system performance

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5. Selecting any Company of your choice highlight any three key developments

in social transparency and reporting.

The organisation I am referring to

The organization, I am familiar with is a -a large manufacturer/ marketer of safety products -the products are used as [personal protection safety] [ industrial safety] -the products are distributed through the distributors as well as sold directly -the products are sold to various industries like mining/fireservices/defence/ as well as to various manufacturing companies. -the company employs about 235 people. -the company has the following functional departments *marketing *manufacturing *sales *finance/ administration *human resource *customer service *distribution *warehousing/ transportation *TQM

AT THIS ORGANIZATION, THE THREE DEVELOPMENTS ARE

ONE At the process level, measurements and calculations must be performed to quantify the amount of toxic substances used, created, transformed, destroyed, contained in the product, released or disposed of, or transferred to another process or medium. The data and quantification methods must be evaluated for accuracy with mass balance checks performed to identify any imbalances between input and output so that all quantities can be explained.

TWO

As part of the drive towards transparency, and to ensure there are no hidden icebergs under the water, IT requires firms to also report costs associated with these industrial operations in its plan due at the end of the year. IT is particularly interested in all the “indirect costs” that the agency believes really drive , including:

Environmental, health and safety compliance

Pollution liability

Waste disposal

Hazardous material storage & handling

Worker protective equipment, ventilation

Container labeling, packaging (CLP), material safety data sheets (MSDS)

Administrative burdens

Public relations

Energy, operation and maintenance for pollution control equipment

THREE

As part of the expected corporate social responsibility, the plan must identify at least one method for reducing toxic substances under each of seven categories. Both feasible and non-feasible options must have a rough toxic substance reduction estimate. For those options that are considered technically feasible, the plan must document the anticipated cost savings. The net present value and timelines for implementing feasible options must be outlined, along with the anticipated cost savings of both direct and indirect (and co- benefits) including:

Total Savings

Return on Investment (ROI) and Payback Period

Replaces Equipment Scheduled for Repair/Replacement

Energy Efficiencies

Reductions in Byproducts

Reduced Worker Exposure (including reductions in claims, comp time, PPE costs)

The outcome of the case should lead businesses to review their health and safety policies to ensure their management systems and work instructions are up-to-date. Staff should be fully aware of those policies and trained regularly on any important changes. Line management should supervise and audit work so that breaches are detected and corrected early.

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6. Write short notes on the following:

a) Transnational Strategy

An international businessstructure where a company'sglobalbusiness activities are coordinated viacooperation and interdependence between its head office, operational divisions and internationally located subsidiaries or retail outlets. A transnational strategy offers the centralizationbenefits provided by a global strategy along with the local responsiveness characteristic of domesticstrategies.

A transnational business conducts operations in several countries with varying degrees of coordination and integration of strategy and operations, according to Newcastle Business School professor George Stonehouse and his colleagues. A transnational strategy combines global reach, coordination of operations and leveraging unique advantages of local markets to drive sales, market share and profit growth.

Basics

Transnational strategy involves operating in different world markets, designing responsive organizational structures and establishing value-added activities that exploit national similarities and differences. Stonehouse defines transnational strategic management as iterations of organizational learning and performance improvements. The foundation of a transnational strategy is a global vision, but with customized implementations for local markets and regions.

Country Environment

The country environment is an important aspect of transnational strategy. In a March 2007 interview with Harvard Business School Working Knowledge writer Sean Silverthorne, Harvard professor Richard H.K. Vietor suggests that countries with a sound fiscal and monetary environment, secure property rights and anti-corruption policies attract transnational companies. A small-business owner should select a country based on its current business environment and a reasonable estimate on what the business and political environment might be in three to five years. In an October 1999 interview with Harvard Business School Working Knowledge writer James Aisner, Harvard professor Michael E. Porter discussed the importance of clusters in country selection. Clusters are geographic concentrations of competing and cooperating suppliers and service providers. Emerging nations should encourage transnational companies to build linkages with the local economy and become consumers of local goods and services. The development of skills training and support infrastructure are also important characteristics of countries that are appealing for transnational companies.

Branding

Transnational businesses may use global brands or create specialized local brands. In an October 2007 Harvard Business School Working Knowledge article, Harvard professor John A. Quelch cites the cases of American and Japanese automakers to suggest that developing a marketing strategy around one set of brands is more efficient than having several different brands for different regions of the world. Global brands share certain characteristics, such as a focus on a single product category and consistent market positioning.

Contingency Planning

Transnational strategy also includes contingency planning. Natural disasters, such as the March 2011 earthquake in Japan, can cause severe disruptions in the supply chain. In a May 2011 interview with Harvard Business School Working Knowledge writer Dennis Fisher, Harvard professor Willy C. Shih suggests that manufacturers and suppliers often lack contingency plans and find themselves scrambling for alternatives when disaster strikes. Diversification of supply sources and having alternative distributors are some of the contingency planning options. However, management should consider whether customers would be willing to pay for the cost of establishing and maintaining these backup supply and distribution arrangements.

Considerations

Although people use the terms interchangeably, global, multinational, international and transnational businesses have subtle differences. International is a generic term that

applies to all businesses with foreign operations. A multinational business operates in several foreign countries, but it delegates strategic decision-making responsibility to its overseas subsidiaries, which operate as autonomous businesses. A global business conducts activities in many countries but with an integrated worldwide strategy.

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b) Balanced Autonomy

The dominant approach in constitutional rights law recommends that in the case of conflicts between rights (autonomy interests) and other rights (autonomy interests) or public interests (which are eventually personal autonomy interests), balancing is the appropriate method to determine the correct result. Balancing is the fourth, and often decisive, stage of the proportionality test, and even in constellations where courts do not rely on the proportionality test, they often resort directly to balancing.1 But what does it mean to say that the interests involved have to be ‘balanced’? I shall present four concepts or kinds of balancing. Each kind includes the previous one but is broader; thus the four kinds of balancing can be imagined as four concentric circles. The first and most narrow one simply puts the two (or more) competing autonomy interests on the scales; and their respective weight is determined, in accordance with the approach developed in Chapter Three, with reference to their importance from the perspective of the self-conceptions of the agents. One might call this kind of balancing a ‘utilitarianism of autonomy interests’ (parallel to Nozick’s ‘utilitarianism of rights’2) or ‘autonomy maximisation according to this approach the controlling factor is the weight of the respective autonomy interests, which is determined with reference to the perspective of the agent whose autonomy is at stake; and preference is given to the weightier autonomy interest. I shall refer to this kind of balancing as autonomy maximisation.

The second kind of balancing is slightly broader; it still works with the image of scales. But it determines the weight of the respective autonomy interests not exclusively with regard to their importance for the self-conceptions of the agents; rather, it additionally relies on other factors. I shall call this kind of balancing interest balancing.

My third understanding of balancing – formal balancing – does not work with the image of scales anymore; thus the balancing metaphor is somewhat misleading. But it is still about balancing is the sense that none of the two (or more) competing interests takes absolute priority; in this sense it is correct to say that the right way to resolve the conflict is ‘to strike a balance’. But in contrast to interest balancing, under formal balancing the conflict between the two autonomy interests may be resolved wholly or partly independently of the weight of the two interests. So we need to make a moral argument which may be at least partly independent of the weight of the autonomy interests at stake.

The fourth kind of balancing – balancing as reasoning – regards balancing simply as a matter of assessing the relative strength of reasons. We sometimes say that we need to ‘balance’ all the morally relevant considerations, and what we mean by that is that we have to develop a moral argument. Even in the case of a truly absolute prohibition of torture, we could still say that we have to ‘balance’ the reasons for and against torture and conclude that since torture is absolutely prohibited, it must be impermissible. Balancing then is a synonym for practical reasoning.

c) Global Reporting Index (GRI)

WHAT IS GRI?

The Global Reporting Initiative (GRI) is a non-profit organization that works towards a sustainable global economy by providing sustainability reporting guidance

GRI has pioneered and developed a comprehensive Sustainability Reporting Framework that is widely used around the world. The Framework enables all organizations to measure and report their economic, environmental, social and governance performance – the four key areas of sustainability. The Reporting Framework – which includes the Reporting Guidelines, Sector Guidelines and other resources - enables greater organizational transparency about economic, environmental, social and governance performance. This transparency and accountability builds stakeholders’ trust in organizations, and can lead to many other benefits. Thousands of organizations, of all sizes and sectors, use GRI’s Framework in order to understand and communicate their sustainability performance. GRI’s is a multi-stakeholder, network-based organization. Its Secretariat is headquartered in Amsterdam, the Netherlands. The Secretariat acts as a hub, coordinating the activity of GRI’s many network partners. GRI has Focal Points – regional offices – in Australia, Brazil, China, India and the USA. Its global network includes more than 600 Organizational Stakeholders – core supporters – and some 30,000 people representing different sectors and constituencies. GRI also enjoys strategic partnerships with the United Nations Environment Programme, the UN Global Compact, the Organisation for Economic Co- operation and Development, International Organization for Standardization and many others. GRI’s Guidelines are developed with the expertise of the people in its network. International working groups, stakeholder engagement, and due process – including Public Comment Periods – help make the Guidelines suitable and credible for all organizations.

GRI Guidelines are regarded to be widely used. More than 4,000 organizations [2] from 60 countries use the Guidelines to produce their sustainability reports. (View the world’s reporters at the GRI Sustainability Disclosure Database.) GRI Guidelines apply to corporate businesses, public agencies, smaller enterprises, NGOs, industry groups and others. For municipal governments, they have generally been subsumed by similar guidelines from the UN ICLEI.