This report analyzes the human resources aspects of Topshop potentially expanding to Chicago, Illinois, following their recent opening in New York City. It summarizes Topshop's international strategy as ethnocentric, focusing on exporting their UK practices abroad. It identifies challenges with using expatriates, including pay issues if local employees learn expatriates earn more. While an ethnocentric approach has advantages like influence and experience-sharing, it risks misunderstanding local customs and laws. The report concludes Topshop may need to shift to a more polycentric strategy responsive to local foreign markets to succeed in Chicago.
A weekly social media activity report of Topshop evaluating the brand's choice of social media platforms, the appropriateness for their target audience and considering how they compare to their competitors.
Raoul & Massimo Dutti Brand Comparison and Analysis ReportEna Teo Jia En
Marketing Group Project. Brand Analysis Report, 2011.
Group Members Names on Cover page.
Year 1 BA(Hons) Degree Fashion Media & Industries Course (Fashion Marketing and Management Specialism) LASALLE College of the Arts. 2011.
Topshop (A Marketing Management Project for MBA)mahakhalid1
Topshop a retail phenomenon on the high street, enjoying a huge growth in sales profits and carving out a distinctive personality with an individual brand mix. Topshop has received numerous accolades in recent years - style bible 'The Face' called Topshop "a dream factory that initiates and innovates, and creates its own fashion"
The Strategic business unit proposed for this project is Clothes & Accessories for Working Individuals by the name of Working Class H2T. TOPSHOP is already in the market with clothing lines for men & women, this particular niche will augment its dominance in the market for working class fashion.
ZARA's 6 months social media strategy plan for Social Commerce class at Parsons The New School for Design. Project includes SWOT analysis, strategic plan to improve ZARA's social media, guerrilla marketing, and partnership marketing.
In this project, I worked with a group to create a buying plan for the shoes department of Zara. We analyzed up and coming trends for footwear and looked to see how those trends could further expand the ZARA shoe market.
1 First Business Trip to Asia ScenarioJeff Elliott is on .pdfcbholla1
1. First Business Trip to Asia (Scenario)
Jeff Elliott is on a flight across the Pacific and is excited about his first business trip to Asia. Born
and raised in Alberta, Jeff is a manager for a rapidly growing Calgary-based company. His current
mission is to scout out potential locations in Asia and develop an international expansion strategy
for his company. There are many options, including maintaining the businesses head office in
Canada and sending over company representatives when necessary, or developing a separate
company in Asia and hiring locals to manage the business. Jeff's trip will take him to Japan,
Korea, Hong Kong, Taiwan, and Thailand. He is looking forward to learning more about the
business practices and customs of each country, and he is not too worried about the fact that he
only speaks English. Jeff has heard that English is considered the main international business
language and he anticipates that most Asians will be able to speak it.
1) If Jeff's company decided to open another company in Taiwan but manage it from its
headquarters in Canada, it would be considered a ________.
A) transnational corporation
B) global business alliance
C) regional trade alliance
D) multinational corporation
2) If Jeff's company decides to open completely new operations in Thailand, Japan, and Korea,
and decides to decentralize management and decision making to the local countries, it would be
following a ________ approach.
A) multidomestic
B) global
C) ethnocentric D) multinational
3) If Jeff's company eliminated country-designated locations and reorganized based on industry
groups, it would best be described as a ________.
A) transnational organization
B) multidomestic organization
C) global business alliance D) multinational corporation
2. International Entrepreneurs (Scenario)
Jennifer and James have formed an entrepreneurial venture to develop software for banks and
other financial institutions. Their company is growing, and in looking for opportunities in the future
they decide to explore international operations.
4) As their international operations grew, Jennifer and James decided to decentralize
management and hire foreign nationals to run the business in their local countries. Their firm has
developed into a ________.
A) multidomestic
B) multinational corporation
C) global organization D) global trade alliance
5) A new and exciting opportunity has appeared that enables Jennifer and James to form a joint
venture with a bank in Japan. This partnership will involve less risk and commitment than
________.
A) exporting
B) foreign contracting
C) setting up a foreign subsidiary D) licensing
6) Jennifer and James decide to allow a company in Hong Kong to use the rights to their software,
brand name, and product specifications in return for a lump-sum payment. This agreement is
known as a(n) ________.
A) strategic alliance / joint venture
B) export alliance
C) franchise
D) foreign subsidiary
3. The European Expansion (Scenario)
As a mana.
A weekly social media activity report of Topshop evaluating the brand's choice of social media platforms, the appropriateness for their target audience and considering how they compare to their competitors.
Raoul & Massimo Dutti Brand Comparison and Analysis ReportEna Teo Jia En
Marketing Group Project. Brand Analysis Report, 2011.
Group Members Names on Cover page.
Year 1 BA(Hons) Degree Fashion Media & Industries Course (Fashion Marketing and Management Specialism) LASALLE College of the Arts. 2011.
Topshop (A Marketing Management Project for MBA)mahakhalid1
Topshop a retail phenomenon on the high street, enjoying a huge growth in sales profits and carving out a distinctive personality with an individual brand mix. Topshop has received numerous accolades in recent years - style bible 'The Face' called Topshop "a dream factory that initiates and innovates, and creates its own fashion"
The Strategic business unit proposed for this project is Clothes & Accessories for Working Individuals by the name of Working Class H2T. TOPSHOP is already in the market with clothing lines for men & women, this particular niche will augment its dominance in the market for working class fashion.
ZARA's 6 months social media strategy plan for Social Commerce class at Parsons The New School for Design. Project includes SWOT analysis, strategic plan to improve ZARA's social media, guerrilla marketing, and partnership marketing.
In this project, I worked with a group to create a buying plan for the shoes department of Zara. We analyzed up and coming trends for footwear and looked to see how those trends could further expand the ZARA shoe market.
1 First Business Trip to Asia ScenarioJeff Elliott is on .pdfcbholla1
1. First Business Trip to Asia (Scenario)
Jeff Elliott is on a flight across the Pacific and is excited about his first business trip to Asia. Born
and raised in Alberta, Jeff is a manager for a rapidly growing Calgary-based company. His current
mission is to scout out potential locations in Asia and develop an international expansion strategy
for his company. There are many options, including maintaining the businesses head office in
Canada and sending over company representatives when necessary, or developing a separate
company in Asia and hiring locals to manage the business. Jeff's trip will take him to Japan,
Korea, Hong Kong, Taiwan, and Thailand. He is looking forward to learning more about the
business practices and customs of each country, and he is not too worried about the fact that he
only speaks English. Jeff has heard that English is considered the main international business
language and he anticipates that most Asians will be able to speak it.
1) If Jeff's company decided to open another company in Taiwan but manage it from its
headquarters in Canada, it would be considered a ________.
A) transnational corporation
B) global business alliance
C) regional trade alliance
D) multinational corporation
2) If Jeff's company decides to open completely new operations in Thailand, Japan, and Korea,
and decides to decentralize management and decision making to the local countries, it would be
following a ________ approach.
A) multidomestic
B) global
C) ethnocentric D) multinational
3) If Jeff's company eliminated country-designated locations and reorganized based on industry
groups, it would best be described as a ________.
A) transnational organization
B) multidomestic organization
C) global business alliance D) multinational corporation
2. International Entrepreneurs (Scenario)
Jennifer and James have formed an entrepreneurial venture to develop software for banks and
other financial institutions. Their company is growing, and in looking for opportunities in the future
they decide to explore international operations.
4) As their international operations grew, Jennifer and James decided to decentralize
management and hire foreign nationals to run the business in their local countries. Their firm has
developed into a ________.
A) multidomestic
B) multinational corporation
C) global organization D) global trade alliance
5) A new and exciting opportunity has appeared that enables Jennifer and James to form a joint
venture with a bank in Japan. This partnership will involve less risk and commitment than
________.
A) exporting
B) foreign contracting
C) setting up a foreign subsidiary D) licensing
6) Jennifer and James decide to allow a company in Hong Kong to use the rights to their software,
brand name, and product specifications in return for a lump-sum payment. This agreement is
known as a(n) ________.
A) strategic alliance / joint venture
B) export alliance
C) franchise
D) foreign subsidiary
3. The European Expansion (Scenario)
As a mana.
This text was adapted under a Creative Commons Attribution-TakishaPeck109
This text was adapted under a Creative Commons Attribution-
NonCommercial-ShareAlike 3.0 License without attribution as requested
by the work’s original creator or licensee.
http://creativecommons.org/licenses/by-nc-sa/3.0/
http://creativecommons.org/licenses/by-nc-sa/3.0/
International HRM
Things Weren’t What They Seemed
When your organization decided to go “global” two years ago, the executives didn’t know what they were
getting into. While the international market was attractive for your company’s product, the overall plan
wasn’t executed well. The organization was having great success selling its baby bath product in the
domestic market, and once that market was saturated, the organization decided to sell the product in
South America. Millions of dollars’ worth of research went into product marketing, and great success was
had selling the product internationally. It was only when the organization decided to develop a sales
presence in Peru and purchase a company there that the problems started. While market research had
been done on the product itself, the executives of the company did little research to find out the cultural,
economic, and legal aspects of doing business in that country. It was assumed that the Peru office would
run just like the US office in terms of benefits, compensation, and hiring practices. This is where the
strategy went wrong.
Many cultural aspects presented themselves. When executives visited the Peru office, the meeting was
scheduled for 9 a.m., and executives were annoyed that the meeting didn’t actually start until 9:45 a.m.
When the annoyed executives started in on business immediately, the Peruvian executives disapproved,
but the US executives thought they disapproved of the ideas and weren’t aware that the disapproval came
from the fact that Peruvians place a high emphasis on relationships, and it was rude to get down to
business right away. When the executives walked around the office and spoke with various employees,
this blunder cost respect from the Peruvian executives. Because Peru has a hierarchical structure, it was
considered inappropriate for the executives to engage employees in this way; they should have been
speaking with management instead.
Besides the cultural misunderstandings, executives had grossly underestimated the cost of compensation
in Peru. Peru requires that all employees receive a bonus on the Peruvian Independence Day and another
on Christmas. The bonus is similar to the monthly salary. After a year of service, Peruvians are allowed to
go on paid vacation for thirty calendar days. Higher benefit costs were also an issue as well, since Peru
requires workers to contribute 22 percent of their income to pension plans, and the company is required
to pay 9 percent of salaries toward social (universal) health insurance. Life insurance is also required to be
paid by the employer after four years of service, ...
9110E576-754D-4768-8CA8-516BFD738853.JPG
F35447F1-7CAB-4F6D-86AD-A0F4EF21612C.JPG
BUS 499 Assignment 4 Merger, Acquisition, and International Strategies
Your Name here
Name of the university
Professor name here
Date
Mergers and Acquisitions: Assuming rationality from all players, mergers and acquisitions deals originate out of specific strategic corporate requirements. In reality, the advisors (both legal & financial) and middlemen also play a significant role in the original activity. Acquirers / targets may focus on players for a potential acquisition. Buying players implies horizontal integration. There are lot of risks (financial as well as operational) involved and challenges in mergers and acquisitions face by company which is acquiring and target companies as which are listed below:-
· Synergies sometimes do not generate real cash flows as expected.
· Financial Risk arises from the amount of debt (taken to acquire other corporation) in a company’s capital structure. Impact of changing debt on valuation
· Increase in debt increases value over surge in interest tax yield
· Interest Tax shield gain is partially offset by increase in cost of equity
· There are complex processes involved in mergers and acquisition .It is difficult to compare betas measured against different indices due to differences in composition of index.
· Changing financial leverage affects the systematic risk that shareholder’s face.
· Risks when the acquirer and the Acquirer-Target merging entities are in two different countries
For the corporation that has acquired another company, merged with another company, or been acquired by another company, evaluate the strategy that led to the merger or acquisition to determine whether or not this merger or acquisition was a wise choice. (Facebook acquiring WhatsApp)
There are many reasons that a company consider before doing any merging or acquisition activity. Hence it can be safely considered that Facebook too has considered the factors related to the same.
First of all, the number of users of WhatsApp is around 450 million. WhatsApp was initially released in the year of 2009. In the span of just over 4 years having over 450 million users itself suggests that the growth of the company is phenomenal. Facebook have achieved just over 100 million in the initial 4 years. This provides the past history of growth for the company.
Another factor is the future growth. WhatsApp is adding around 1 million users daily which is one of the highest in the industry. These are the number of new users that the company is able to add. This shows the future growth potential of the company. Hence the valuation would increase a lot.
Another important factor is the synergy between the two companies. Facebook too has a messenger integrated in their website. But they are unable to provide direct strong competition to the WhatsApp. This means Facebook is left with two options:
· First one is that the company must change the .
How did one of the largest malls in the world get its location strategy wrong? For a retailer, brand owner or property developer, it is critical to select retail sites that would offer the most attractive revenue potential, or a platform that will strengthen the company’s brand positioning in the market. In this Research Note from Ipsos Business Consulting, we highlight the challenges of location assessment in emerging markets and describe a framework for developing a robust strategy plan.
Business Ethics-in a Global ContextTopics.docxhumphrieskalyn
Business Ethics-in a Global Context
*
Topics of Global EthicsGlobal supply chainsWhat leaders can do on a global scaleMistakes made by othersHaving global programsHaving a global codeJoining global initiativesUnderstanding cultural differences
IntroductionAdvances in communication, technology, and transportation have minimized the worlds' borders, creating a new global economy as more and more countries are attempting to industrialize and compete internationally. Because of these trends, more companies are doing business outside their home countries. Countries though have different cultures, values, laws, and ethical standards
*
The Modern Business Person The international businessperson must not only understand the values, culture, and ethical standards of his/her own country but also sensitive to those of other countries
Approximately 90% of American companies have a code of ethics, 51% in Germany, 41% in UK, France 30%
Ethical codes are increasingly concerned with conduct against the firm rather than with conduct on behalf of the firm
*
Therefore some of the issues to consider
Culture
Language
Values
Religion
Time
History
Colour
Photographs
Global Ethics
Culture“Culture consists of everything in our surroundings that is made by people – both tangible items and intangible things like concepts and values. Language, religion, law, politics, technology, education, social organisations, general values, and ethical standards are all included within this definition. Each nation has a distinctive culture and, consequently, distinctive beliefs about what business activities are acceptable or unethical. Thus, when transacting international business, individuals encounter values, beliefs, and ideas that may diverge from their own because of cultural differences”
*
Starbucks attempt of Parisian Cafe Culture Standardisation?
*
The next level, Japan, India and Vietnam
Starbucks Via
The factor of language
Bacardi Pavian
Tropicana- Jugo de ChinaReleased in France/Germany. In German translation means baboonIn Puerto Rico it meant orangeIn Cuba though it translated as Chinese juice
*
United Airlines in Hong Kong
http://www.deseretnews.com/article/705365824/Wrong-flowers-can-mean-death-for-global-business.html?pg=all
Gift Giving-The Dos and Don'ts
JAPANCHINASINGAPOREINDIA Always gift wrap gifts but never in white, as this is associated with funeralsWrapping in red symbolises good luck. Red ink is taboo though and symbolises the end of relationshipGift giving is not a common practiceRely on advice of local associates as some may expect expensive gifts, others offendedGive and receive gifts with both hands and a slight bowPresent a gift to all involved, value dependant on status and only when negotiation finalCorruption is not toleratedAlthough illegal, bribes are often solicited at each bureaucratic levelIf buying a gift consult the staff in the better department stores - explain the situationIf nece ...
CASE STUDY QUESTIONS By the use of Michael Porters generic .pdfabdulrahman7810
Apple iPhone Tedarik Zincirinde 3. Kademe tedariki (bir mobilya irketi) iseniz ve
yllk gelirinizin %80'ini veya daha fazlasn oluturur. California'da bulunuyorsunuz ve Tier 2 irketine
mobilya tedarik ediyorsunuz.
Bir ibirlii orta sein ve bu ortakln faydalarn ve risklerini aklayn (bu sizin mteriniz olamaz).
1) AKILLI ve uygun ibirlii hedeflerini tanmlyor musunuz?
2) Bu ortaklkla elde etmeyi umduunuz 5 fayday aklayn ve ayrntl olarak aklayn?.
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
Taurus Zodiac Sign_ Personality Traits and Sign Dates.pptxmy Pandit
Explore the world of the Taurus zodiac sign. Learn about their stability, determination, and appreciation for beauty. Discover how Taureans' grounded nature and hardworking mindset define their unique personality.
Unveiling the Secrets How Does Generative AI Work.pdfSam H
At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
Discover the innovative and creative projects that highlight my journey throu...dylandmeas
Discover the innovative and creative projects that highlight my journey through Full Sail University. Below, you’ll find a collection of my work showcasing my skills and expertise in digital marketing, event planning, and media production.
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
𝐓𝐉 𝐂𝐨𝐦𝐬 provides unlimited package services including such as Event organizing, Event planning, Event production, Manpower, PR marketing, Design 2D/3D, VIP protocols, Interpreter agency, etc.
Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
⭐ 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬:
➢ 2024 BAEKHYUN [Lonsdaleite] IN HO CHI MINH
➢ SUPER JUNIOR-L.S.S. THE SHOW : Th3ee Guys in HO CHI MINH
➢FreenBecky 1st Fan Meeting in Vietnam
➢CHILDREN ART EXHIBITION 2024: BEYOND BARRIERS
➢ WOW K-Music Festival 2023
➢ Winner [CROSS] Tour in HCM
➢ Super Show 9 in HCM with Super Junior
➢ HCMC - Gyeongsangbuk-do Culture and Tourism Festival
➢ Korean Vietnam Partnership - Fair with LG
➢ Korean President visits Samsung Electronics R&D Center
➢ Vietnam Food Expo with Lotte Wellfood
"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
Premium MEAN Stack Development Solutions for Modern BusinessesSynapseIndia
Stay ahead of the curve with our premium MEAN Stack Development Solutions. Our expert developers utilize MongoDB, Express.js, AngularJS, and Node.js to create modern and responsive web applications. Trust us for cutting-edge solutions that drive your business growth and success.
Know more: https://www.synapseindia.com/technology/mean-stack-development-company.html
Improving profitability for small businessBen Wann
In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
India Orthopedic Devices Market: Unlocking Growth Secrets, Trends and Develop...Kumar Satyam
According to TechSci Research report, “India Orthopedic Devices Market -Industry Size, Share, Trends, Competition Forecast & Opportunities, 2030”, the India Orthopedic Devices Market stood at USD 1,280.54 Million in 2024 and is anticipated to grow with a CAGR of 7.84% in the forecast period, 2026-2030F. The India Orthopedic Devices Market is being driven by several factors. The most prominent ones include an increase in the elderly population, who are more prone to orthopedic conditions such as osteoporosis and arthritis. Moreover, the rise in sports injuries and road accidents are also contributing to the demand for orthopedic devices. Advances in technology and the introduction of innovative implants and prosthetics have further propelled the market growth. Additionally, government initiatives aimed at improving healthcare infrastructure and the increasing prevalence of lifestyle diseases have led to an upward trend in orthopedic surgeries, thereby fueling the market demand for these devices.
As a business owner in Delaware, staying on top of your tax obligations is paramount, especially with the annual deadline for Delaware Franchise Tax looming on March 1. One such obligation is the annual Delaware Franchise Tax, which serves as a crucial requirement for maintaining your company’s legal standing within the state. While the prospect of handling tax matters may seem daunting, rest assured that the process can be straightforward with the right guidance. In this comprehensive guide, we’ll walk you through the steps of filing your Delaware Franchise Tax and provide insights to help you navigate the process effectively.
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Accpac to QuickBooks Conversion Navigating the Transition with Online Account...PaulBryant58
This article provides a comprehensive guide on how to
effectively manage the convert Accpac to QuickBooks , with a particular focus on utilizing online accounting services to streamline the process.
Remote sensing and monitoring are changing the mining industry for the better. These are providing innovative solutions to long-standing challenges. Those related to exploration, extraction, and overall environmental management by mining technology companies Odisha. These technologies make use of satellite imaging, aerial photography and sensors to collect data that might be inaccessible or from hazardous locations. With the use of this technology, mining operations are becoming increasingly efficient. Let us gain more insight into the key aspects associated with remote sensing and monitoring when it comes to mining.
6. Local differentiation in wages and terms.Nevertheless, the issue of pay can create many problems for the parent company as its own separate entity. For example, if a parent company is recruiting locally and offering the expatriate more money than the foreign-local who has the same skills and experience, then conflict will surface. Although companies have policies and practices to ensure wage confidentiality there are still resources accessible to foreign-locals to be able to find out the expatriate’s (average) salary most notably, with the aid of the internet. In order to address the issue of wage terms in foreign markets, Topshop will need to revise their polices for the Illinois state and the ethics which come from that. Management consultancies could be a strong recommendation to addressing some of the disadvantages highlighted above in order to maximise growth in foreign markets.<br />Nevertheless, if Topshop do change their practices to adhere to local-foreign responsiveness and operational boundaries this will not only shift their strategy, but this may also shift their current approach from ethnocentric to a polycentric to allow for success in foreign markets. Moreover, to take a polycentric approach, Topshop’s managers and employees engaged in foreign operations should ideally be from the host country, recruited and selected in the host country. In addition, the advantages of recruiting in the host county would result in saving money associated with recruiting, training, and transferring expatriates from other countries in which the company also has operations (O’Connell, 2010). The disadvantages would be that the employee(s) in the host country would have low knowledge of the company culture and fail to conform to the parent company management. Here, local management takes control and as a result a breakdown in relationships could occur between the parent company and the host country.<br />In summary, the decision for Topshop to follow an ethnocentric approach is the right choice...for now. The reasons for this are because Green believes that no best-practices or standards will better Topshop other than his own. Yet, if he considered the criticisms made about the NYC store, his view could be subject to change.<br />Choosing the Right Expatriate <br />The selection of the most suitable employee for an international assignment has become the key component in the strategic selection process (Guthrie et al., 2003). However, selecting and recruiting the right expatriate for this acquisition has proven to be difficult for the international human resource manager (IHRM) – particularly in terms of adhering to company selection policies and setting compensation packages that meet with the goals of the organisation and the expectations of the employee. This section will address the protocols which need to be enforced to ensure effective assimilation of expatriate staff from the parent company to Topshop in Chicago; and discusses the issues raised by the expatriate and how the parent company aim to deal with them.<br />Recruiting and Selection<br />Recruitment and selection should be an effective, efficient and fair process; one that should exclude discrimination in order to identify the requisite traits of the person needed for any given assignment. Dulebohn and Werling’s (2007) paper develops this by suggesting that the process should effectively enable the organisation to achieve its international business goals by selecting the most suitable candidate. In addition, selection should involve testing and evaluating candidate skills and personal attributes to identify best fit for the international assignment. These strategies are arguably the most important objectives an organisation should undertake to ensure that the employee is capable of delivering the organisation’s international goals, irrespective of gender, age and race (Beardwell et al., 2004). <br />In considering the above, the expatriate will be assigned to the position based on the individual’s experience attained in regards to their current position as well as their personality. However, further consideration should be given to those that have had experience outside their home country. The reason for the latter decision is because they would have had experience adhering to foreign policies, cultural values and attitudes. <br />Factors to Consider <br />Some of the factors in international environments must be continually observed by the organisation’s managers—including its human resource managers to ensure the effective assimilation of expatriate staff from the parent company into the new environment is properly executed (Wheelen and Hunger, 1990). These include:-<br />Socio-cultural— Cultural norms and values; language and attitudes towards foreigners. However, it should be considered that the language barriers would be less important in Illinois, because they speak American-English. In addition, research has established that the majority of the foreign-local communities follow a Christian faith. However, although the majority of Chicago citizens are Christians, consideration has to be given to the small minorities who have other beliefs and values. Therefore, the parent company will need to prepare the expatriate to be versatile to cultural value and norms. <br />Economic—economic development; per capita income; GNP (Gross National Product) trends; monetary and fiscal policies; unemployment levels; currency convertibility; wage levels; and the nature of competition. As of July 2010, Illinois have increased their minimum wage, to $8.25 for 21 year olds, and above. Young people between the ages of 16 and 17 get 85% of the minimum wage, totaling to $7.12(approx (IDES, 2010)). In addition, the Illinois Act (1867) states that the working week is 40 hours, the UK law states that the working week is 37.5 hours. Therefore, in order to comply with the Illinois state laws, Topshop will have to adhere to the minimum wage policy as well as the working Act. However, after converting the minimum wage (U.S dollars) into English pounds, the results have shown that the expatriate will be paid less. Furthermore, on average, the holiday entitlement that an English citizen is entitled to is twenty eight days; but an American citizen is only entitled to fourteen days. So in turn, the expatriate will be working longer, receiving less holiday and monetary income. These are critical issues which will need to be addressed prior to the expatriate assimilation. <br />Technological—regulations on technology transfer, natural resource availability, transportation network; and information-flow infrastructure. While technology is not the premise of Topshop and is not important to the expatriate, it should still be included, because they will be using technical resources to communicate with the expatriate’s assimilation of their move as well as to local-foreign suppliers and, other stakeholders concerned with the business. <br />Political-Legal— government; political and tax laws. It is critically important that the parent company understands the differences between the American and English legal system to ensure that their expatriates are correctly adhering to the host country’s tax system. Prior to the assimilation, the expatriate needs to be consulted and understand that a U.S citizen should be paying 7.2% of any earnings that s(he) makes as medical tax (Ides, 2010). To prevent any misunderstandings or the expatriate paying dual-taxation, the parent company will need to carefully examine this factor.<br />HR Issues Deemed to be Important by the Expatriate<br />While social, cultural, political, and technologies are practical HR issues which need to be addressed, more emphasis should be placed on expatriate issues such as rewards, training and development. This section of the report will focus on potential issues and compile possible solutions to overcome these. <br />Reward Strategies<br />Balancing expatriate expectation with rewards has long been a source of frustration within Topshop. In addition, Topshop’s main competitors Hennes & Mauritz (H&M) are using a balance sheet approach in developing the expatriate reward package. Within this framework, expatriate compensation will typically be adjusted upwards when calculating the cost of living and will incorporate factors such as housing, children’s education, tax implications and health insurance (Sims and Shraeder, 2005). Another factor that often affects expatriate compensation is the issue of dual taxation. Without assistance from the parent organisation, the expatriate may be in a situation of having to pay parent country and host country taxes on their income. However, there are other factors which the parent company will need to consider in relation to the reward strategy; these fall under four headings; including compensations, benefits, development and career and work lifestyle. <br /> Table 1: A Reward Strategy which will be implemented by the parent company to the host<br />COMPENSATIONPay*Bonuses* Shareholdings*BENEFITSMedical InsuranceStaff Discount*Travel to work*Education Allowance; or Travel expenses & Uniform allowance An apartmentDEVELOPMENT AND CAREERCareer developmentGuaranteed job, back in the parent company*WORK LIFESTYLEHoliday *Wellness programs (in correlation with medical insurance).Work flexibility* <br />Data Source: The data collected to generate table 1 originated from Topshop’s ‘benefits and rewards’ webpage (Topshop, 2010).<br />The rewards imprinted with an arbitrary sign illustrated in Diagram 1 are standard remunerations that a highly skilled expatriate will receive while working for the parent county. However, as discussed in the report, practical problems will surface when sending the individual on international assignments; and to a county which does not provide medical cover. Therefore, taking this issue into consideration Topshop would be advised to modify the rewards strategy so that the expatriate will receive free medical cover and a wellness program. In addition, the expatriate should have the choice to choose from a free apartment or paid travel. S(he) should receive an education allowance providing that they have children or if they do not, a uniform allowance and a gym membership to total the amount of the education allowance, and to compensate for taking a pay cut that has incurred as a result of the currency difference between the U.K and the U.S. <br />Problems with determining expatriate compensation packages stem from how the organisation keeps the expatriate package whole (Sims and Shraeder, 2005). From the organisation’s perspective, keeping the expatriate whole should entail the expatriate not making excessive gains or losses when all elements of the compensation package are combined (Sims and Shraeder, 2005). <br />Career Development<br />Consequently, it has been recognised within the parent company that labor with greater skills and knowledge can better foster creativity and innovation. Furthermore, research has uncovered that the parent company’s competitors have found that it is not just monetary rewards which motivate their employees; it is in fact career advancement. In addition, the parent company’s primary objective is to continuously invite mechanisms which will not only discover each individual’s learning style, but aid individuals in developing their creativeness and innovative skills in the parent country and the host country. Consequently, the parent company has recognised monetary rewards do not always motivate expatriates and therefore have considered this when deciding the expatriate’s reward strategy. As a result, opportunities will be created which will give the expatriate the potential to become superior levelled management in the foreseeable future. <br />Coaching and mentoring are mechanisms which the parent company advises Topshop to use. They believe that these two mechanisms are an effective way to give employees instruction on hοw thеу саn better υѕе thе skills аnd expertise thеу already hаνе more effectively (Bentley, 1996). In addition, coaching and mentoring reinforces organisational strategy, and a more sustainable dесіѕіοn-mаkіng аnd problem solving mechanism. It could be suggested that continually using mechanisms to focus on the knowledge economy leads to greater flexibility, empowerment, and the potential for competitive advantage in foreign markets.<br />In summary, as attractive as the rewards are to the expatriate on an international assignment, the same cannot be said on return. For example, the expatriate will have been guaranteed that they will have a job on return; but it cannot be certain they will know what is going on in the parent company. Furthermore, the structure of the business may have changed which in turn could impact the nature of the business if Topshop decide to respond to local foreign markets in the foreseeable future. <br />Conclusion<br />While the cost of using expatriates for foreign assignments are quite high, this opportunity should not be ignored. If Topshop’s aim is to sustain competitive advantage in the host country. Subsequently, many HR issues surface from using expatriates, but contary new opportunities develop if Topshop respond to local-foreign demands. This in turn would see a shift the movement of the organisation strategy which in sequence develops greater chances of gaining competitive advantage. However, Topshop have already chosen to apply their best-practice policies and unique competences in the host country and failed to respond to local foreign markets. This has resulted in criticisms being made towards the company. Topshop have the potential to succeed in foreign markets and gain competitor advantage but if they do not cooperate or are not willing to accept change or respond to the needs of their customers in the host country, then they cannot maximise profits. Consequently, the critical factors raised in this report could potentially be detrimental to the business, which suggests that Topshop should not open up in Chicago until they consider how best to respond to local foreign markets.<br />12<br /> <br />References <br />Axelrod and Hammond, (2003). The Evolution of Ethnocentric Behavior. [Online]. Available at: http://www-personal.umich.edu/~axe/research/AxHamm_Ethno.pdf. [Accessed 2nd December, 2010].<br />Barlett and Ghoshal, (1990). The Multinational Corporation as an Interorganizational Network. The journal of The Academy of Management. 15, (4) pp. 603-625.<br />Bearof dwell, I. and Holden L. 2004. Human Resource Management: A Contemporary Approach, 4th ed. FT/Prentice Hall<br />Bentley, T, J. (1996). Bridging the Performance Gap. Gower, England.<br />Bratton and Gold, (2007) Human Resources Management Theory and Practice. 4th ed. Palgrave Macmillan. p.p 74-90. <br />Iwan, L. (2007). 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http://leeiwan.wordpress.com/2007/06/18/difference-between-a-global-transnational-international-and-multinational-company/. [Accessed 2nd December, 2010].<br />Megginson, D, аnd Clutterbuck, D. (1995). Mentoring іn Action. Kogan page, London.<br />Stueart, R, D, аnd B, B, Moran. (1993). Library аnd Information Center Management. Englewood, Colorado: Libraries Unlimited.<br />Wind, Douglas and Perlmutter (1973). Guidlines for Developing International Marketing Strategies. [Online]. The Journal of Marketing.8, p.p 14-23.<br />Useful Sites<br />Department of Labour State of Illnois: http://www.state.il.us/agency/idol/.<br />Illnois Department of Employment Security: http://www.ides.state.il.us/employer/uitax.asp <br />Topshop Careers: http://www.topshop.com/webapp/wcs/stores/servlet/TopCategoriesDisplay?storeId=12556&catalogId=33057. <br />