Proctor Gamble Company

Proctor Gamble Company Scope of the Report. This report is designed to address the economic, political, social and environmental opportunities and risks facing Proctor and Gamble Company in the next ten years.Advertising We will write a custom report sample on Proctor Gamble Company specifically for you for only $16.05 $11/page Learn More Executive Summary. Several decades ago, organizations have been exposed to limited regulations and existed in less competitive environments. As a result, several companies may not have observed the utmost care in the provision of goods and services to their customers. In the recent world, however, more regulations have been imposed and competition has stiffened due to increasing business competitors. As a result, there has been improvement in the quality of goods and services, as well as, adherence to environmental sustainability. Therefore, the objective of this study is to assess the economic, political, social and environmental opportunities and risks facing Proctor and Gamble Company in the next ten years. In the first section, the overview of the company and stakeholder analysis is given. In the second section, the current issues facing the company are analyzed in detail. Lastly, the issues that the company would face ten years to come are explained in detail and a conclusion given. Overview of the Company. Proctor and Gamble Company is a multinational company that ranks highly among the fortune 500 companies (McGowan 24). The company deals in the manufacture and production of several household products that are affordable. In 1837, William Proctor and James Gamble dealers in candle production and soap making respectively, met and started the company (Funding Universe 7). Several years later, the two business partners successfully started their first laboratory within the United States of America (Funding Universe 7). Roughly 58 years later, in 1930, the company acquired a British soap manufacture and went on to estab lish a new manufacturing plant in the Philippines. Currently, the company is a market leader and sells over 300 products in several countries on the globe. â€Å"Some of these valuable products that the company boasts of include Pampers, Ariel, Tide, Gillette, Oral-B, Max Factor, and Mr. Clean† (Funding Universe 7). Proctor Gamble conducts intensive research and marketing all over the world, reaching in excess of 160 countries, and owns 115 factories in over 80 countries (McGowan 24). As mentioned earlier, the company was founded and is headquartered in Cincinnati, Ohio, in the United States of America. In all the worldwide plants, Proctor and Gamble possesses average of 138,000 employees and still growing. Besides the company’s capitalization in products, other fields such as the organization of radio and television shows have been exploited. Some of the aired shows include Down to Earth and Shirley Jones which have also played a significant role in marketing the com pany as a whole.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Proctor and Gamble’s products are classified into five segments according to the functions of the products. â€Å"These five segments include fabric and home care, beauty care, baby and family care, health care, and snacks and beverages, which, allow for the easier application of various marketing techniques and strategies† (Funding Universe 7). The profitability of the company is attained through marketing all segments especially fabric and home, and beauty care that form the largest and second largest segments in terms of revenue. However, as the world population increases and intermingle, people’s needs, tastes and preferences, and loyalty tend to change with time. As such, existing and new entrants in the industry have kept increasing the competition forcing Proctor and Gamble to take approp riate measures to maintain a competitive edge in capital market zones. For instance, implementation of the ‘Organization 2005’ is one key strategy that is used to increase its global market share of the company. As such, this paper aims at giving the current political, economic, social, and environmental issues affecting the organization of Proctor and Gamble. Furthermore, the paper will address the political, social, economical, and environmental issues that will most likely affect the company 10 years from now, as well as, give the associated risks and opportunities. Key Stakeholders Proctor and Gamble has several partners who own key shares in the company according to the company rules of ownership. However, there is no significant evidence of the actual percentage of ownership in the company. Current Issues Economic Issues Since the 2007-2008 global recessions, the Gross Domestic Product of several nations both in the developed and developing countries, including th e United States, have gradually decreased. For instance, the GDP in the United States experienced a reduction at an alarming rate of over 6 percent in the year 2008, and more people lost their jobs as a consequence. The GDP is the total value of all the goods and services produced by an economy in an annual basis and indicate the overall performance of the economy. Therefore, when the GDP of a country drops, fewer goods and services are produced; hence, people stay out of employment because organizations will try to reduce the workers (Isidore 1). Since the global recession, this has been the situation on the ground resulting in the weakening of consumer purchasing power. As a result, organizations will experience less profit due to reduction in the volume of sales (Isidore 1).Advertising We will write a custom report sample on Proctor Gamble Company specifically for you for only $16.05 $11/page Learn More According to Ben Bernanke, the Federal Reserve Cha irman, the situation would continue to exist until an improvement in its exporting destinations in several other parts of the world occurs. Further, he asserts that the rate at which the United States Economy recovers is dependent on the economy abroad because the country expects to rejuvenate through export revenues. Proctor and Gamble Company serve a vast market both in the United States and abroad, selling in excess of 300 products to more than 80 nations of the world (McGowan 24). As such, the economic hardships of such economies have negatively affected the operation and general profitability of the company. This is because the global economy plays a key role in ensuring that the company’s products move smoothly in all the target markets (Wohi 1). Despite the slight improvement in the economies during the recent years, the cost of oil has continued to shoot up leading to a second phase of inflation. This again, impacts the ability of potential Proctor and Gamble customer s to purchase their products; hence, reduced profitability has continued to exist. Furthermore, Proctor and Gamble imports most of its raw materials from other countries and in the recent years, this has hugely impacted the performance of the company. For instance, commodity prices have drastically surged by more than 50 percent since 2002. As a result, close to half of Proctor and Gamble product costs are directly related to the cost of raw materials. In order to remain in business and make reasonable profits, the company resorted to increase the prices of several brands. However, being a market leader, Proctor and Gamble enjoys the economies of scale and can effectively moderate inflation of raw materials as compared to competitors (Shailaja, 2). The raw materials adversely affected by the inflation include coffee pries, growing paper pulp prices, fuel prices, and natural gas prices among several others that are not mentioned. As a consequence, the associated product prices such a s coffee brands, fabric, and diaper goods have experienced fluctuations in expenses, as well as, generated reasonable profits for the company (Wohi 1). Despite the economic hardships being experienced in several nations, Proctor and Gamble has set up strategies that ensure success in its operations (Shailaja, 2).Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Political Issues The current economic situation in the United States and the other leading economies trigger various government reactions (Shah 5). As such, several governments including the United States Government has imposed some regulations in order to allow the smooth recovery of the economy. Apart from leading economies such as the United States’ economy, Japan’s economy, Britain’s economy, Spain’s economy and the economy of Singapore, other emerging economies of the world such as China have continuously been exposed to the effects of the global economy deterioration. With the United States economy being affected, China also experiences the economic strain as their exports to the United States significantly reduce. This scenario calls for political intervention by concerned governments in order to drive their economies towards the right direction. For instance, the gradual economic deterioration, inflation and unemployment put pressure on Ben Bernan ke to speed up the interest rate cuts in the United States in order to reduce the benchmark rate 0.75 percent down. This move was quickly adopted by central bankers in several other nations such as Japan and the UK region in order to allow their economies to thrive in the current economic difficulties. According to the IMF, the economy of the United States accounts for approximately 21 percent of the global economy; therefore, the deterioration of the economy put significant trickling effect to several other economies of the world. The reduction in the spending ability of American consumers has necessitated organizations to limit their importation budgets in order to avoid incurring losses. According to relevant sources the uncertainty of the United States stock prices has also negatively impacted other markets in several countries (Isidore 1). Apart from economy deterioration and inflation effects, there are other government regulations and policies that have significantly influenc ed the operation of leading organizations such as Proctor and Gamble Company. In recent occurrences, different consumer protection bodies have raised concerns over the dangerous chemical compositions of certain cosmetic goods. Additionally, researches conducted on the chemical compositions of cosmetic goods have indicated that 0.33 of these goods have carcinogens. In connection to that, the United States Food and Drug Administration imposed strict quality adherence rules that all cosmetics manufacturers must follow. These quality adherence regulations were imposed to ensure that consumers are protected against harmful products. These recent governing rules on product quality adherence impose significant delays in product launches within companies. Furthermore, the regulations lead to higher costs of finished goods due to a high cost in the product development process. As such, companies will have to ensure they meet such regulations; otherwise, they stand a risk of getting enormous fines or being banned from operation. In Europe, for example, the European Chemicals Agency was created in order to provide regulation on the quality of finished goods within the entire European markets. In order to comply with the strict rules and regulations, companies have to incur more costs. As a result, there is the creation of new barriers of entry that leads to a steady rise in fake household goods that put the general consumer population to new health risks. Proctor and Gamble, however, has set up new strategies to ensure the cases of counterfeits in its products are minimized so as to avoid revenue reduction and weakening of its brand image. Another political issue that has influenced the running of Proctor and Gamble is the change in the rules that govern the disposal of solid wastes. In order for the company to adhere to the strict rules, it changed to manufacturing some of its products such as diapers with biodegradable materials rather than PVC plastics. As a result, t he creation of recyclable diapers has been remarkably successful and enabled the company to realize substantial profits. Social Issues From the onset of the 21st century, key demographic changes took place in the American society and the world as a whole. As such, more and more women started going to work, and even some of them became the sole bread winners among their families. As years went by, families became more stable than in the earlier years; hence, the purchasing power of consumers significantly improved (Shah 5). Furthermore, mothers could take care of even larger families without straining their budgets as hard as it used to be several years back. On the other hand, companies such as Proctor and Gamble immediately identified the potential that existed in these consumers and took a positive step to market itself. The company identified women as their target group for household, beauty and other personal products; therefore, advertised directly to them. By using this techni que, Proctor and Gamble successfully entered the market and controlled a bigger market share than other competitors. Procter and Gamble went ahead to use women as decision influencers in the remaining product categories like food and beverage, and detergents. Additionally, Proctor and Gamble effectively applied the use of media such as radio and television shows as a way of promoting its brand name and products to the entire consumer population. This process involved the selection of proper media and programs in order to get sufficient conversions from the targeted consumers. Some of the aired shows that have played a significant role in marketing the company products include Down to Earth and Shirley Jones. In comparison to other competing organizations, Proctor and Gamble has consistently enjoyed the benefits of its innovations in most of the markets, both in the United States and abroad. Despite the various benefits that Proctor and Gamble has gained, there are cases where they h ave underperformed. From a general perspective, social concerns, lifestyle, and attitude play a crucial role in determining the success, failure or reputation of any organization that deliver goods and services. Over the recent years, for example, Proctor and Gamble experienced several boycotts that are linked to the exploitation of animals by the company. According to relevant sources, the company uses animals to conduct tests for products in order to ensure they are safe for use by their consumers. As established by animal rights organizations, the company and its leadership have engaged in unworthy practices that create an attitude that transfers fame and profits to the strong at the expense of the environment, people and animals. This scenario led to widespread trust issues about the company’s ethical standing, and the management had to step in to save the situation. â€Å"During the 5th World Congress on Alternative and Animal Use in Life Sciences (2005), the company ac cepted that it engages in animal testing as the last option in order to ensure products are fit for use by consumers† (Federal Institute of Risk Assessment 3). However, the company management insisted that they are making plans to remove the use of animals in conducting their product research (Federal Institute of Risk Assessment 3). As a resolution, the company stated that it has commits itself to employing other means of conducting product research within the company. This is depicted in its collaboration with government bodies and academia to promote the acceptance of alternative means for product research and testing in the company. Environmental Issues In all countries, there are several environmental concerns that are addressed for a peaceful coexistence between man and the environment to be realized. These environmental issues are addressed through the creation of environmental laws that control the activities undertaken (Shah 5). In most scenarios, these laws significa ntly influence the operation of key organizations both positively and negatively. In the United States, for example, there are several environmental laws which have been drafted to ensure the environment is kept clean and conducive for habitation now and for future generations. For example, the passing of the Solid Waste Act (1976) was intended at eliminating the causes of environmental dereliction that worsened due to increased population growth. Several companies had to respond to this environmental law or risk being penalized. Furthermore, the damage caused by disposal of diapers was counteracted by strictly following the established environmental laws. The rise of recyclable diapers also had some implications on the manufacturers such as the strict regulations and changes in consumer preferences. Furthermore, operating companies like Proctor and Gamble had to deal with increased levels of consumer awareness concerns and resentment for buying disposable diapers. In response, Proc tor and Gamble came up with the idea of using pulp to manufacture diapers rather than using PVC plastics and claimed their diapers are recyclable (Sewell 2). Since the diapers were biodegradable they eliminated cases of health hazard arising from non-biodegradable PVC diapers; hence, resulted in a cleaner environment (Sewell 2). In more recent years, newer regulations have been created such as the need for the provision of high health standard products, energy saving options and control of exhaust gases into the atmosphere. As a result, several organizations have strived to meet these regulations and global objectives by carrying out the best associated activities. Proctor and Gamble engaged in the 2005 Clinton Global Initiatives that are intended at providing the world with the best services for better live (Stockhouse 1). As such, the company committed itself to offering clean drinking water to millions of children in developing countries such as in the sub-Saharan Africa and Asia . According to relevant sources, more than 13 million children in the United States have inadequate food supplies, but Proctor and Gamble strives in to offer the necessary support (Proctor Gamble, 22). Through the leadership of McDonald (CEO) several environmental objectives have been realized depicting his excellent leadership skills and ability to serve without bias (Shedlock 2). For instance, the company successfully lowered water usage by 7 percent, energy consumption by 6 percent and carbon dioxide emissions by 8 percent in the year 2008. According to relevant sources, these results are exceptional and can only be realized through complete sacrifice and the ultimate determination to succeed. Furthermore, Proctor and Gamble helped to supply and distribute 430 million liters of safe drinking water in several parts of the world in its initiative to reach needy children in 2008 (Stockhouse 1). As a result, the company has continued to show its commitment to reach, support and impr ove the lives of people in the global scenario (Shedlock 2). Such initiatives also uphold the ethical drive of the company and in the long run may help to strategize its marketing capabilities in new markets. Future Opportunities and Risks. In the next 10 years, Proctor and Gamble Company will continue to experience significant changes in the political, economical, social and environmental issues. These changes will force the company to respond by creating strategies in order to remain competitive within the market and retain its market leadership (Proctor Gamble, 20-52). In the following pages, the possible issues, opportunities and associated risks that may impact the company are discussed in detail. Economic Issues By assessing the current global development trend, there are significant indicators of an increased economic performance in several countries. For example, various developing countries have established global goals and strive to meet these goals in order to have a rat ing on the global scenario (Shah 5). As a result of these initiatives, there are increased chances of better performance in developing countries within the next years. In response to this effect, various multinational companies have already started establishing their roots in such countries so that they can enjoy the benefit of first investors. These potential future economies are referred to as emerging markets and have the capacity to change the rating of an organization. Proctor and Gamble, for that matter, has started laying strategies for opening and establishing its operations in emerging markets such as in countries like India and Malaysia (Proctor Gamble Company 5). As such, the company’s idea is to locate itself close to the future consumers, as well as, win a bigger share of the market. These plans became clear in 2008, when the company announced its intention of establishing 19 factories in developing countries that have experienced exponential growth in their GDP over the recent years. Such strategic moves give the company a better chance of utilizing the new economic opportunities before other competing companies enter the new markets. Other opportunities associated with establishing itself in new markets include the enjoyment of free markets with less competition and still offer the best products. Considering that 80 percent of the world’s population resides in the developing countries, the potential of Proctor and Gamble to remain a market leader for several years to come is undoubted. However, despite the fact that there are numerous opportunities in establishing the company’s future in emerging markets, there still exist risks that should be put into consideration. First of all, competing companies such as Unilever and Colgate-Palmolive have already established factories in some of these markets; hence, Proctor and Gamble is expected to receive some form of competition during the implementation process. Furthermore, the c ompetition to offer the best products at the most affordable costs will have a significant effect on the reduction of overall profit margins. Second of all, developing countries tend to have unstable economies and the markets would vary with little uncertainty. As such, Proctor and Gamble may be in a risk of losing potential income trying to maintain its operation in such markets. Social Issues. Demographic factors such as population play a key role in creating a stable market that multinational companies can thrive in well. In most developing countries, the population growth rate is high and more children are being born (Shah 5). As such, the continued population growth increases the size of the potential market in the target developing countries. Therefore, in the coming 10 years, Proctor and Gamble will explore this excellent opportunity in the developing markets. With continued population growth, the demand for household products will increase; hence, a significant increase in t he volume of sales will be realized by the company. In addition to that, the social services that the company has been offering in the developing countries such as provision of safe drinking water and food in sub-Saharan Africa will live a lasting impact on the people (Proctor Gamble Company 5). As a result, the company will be appreciated for its ethical moves and potential consumers will always value being associated with the company. Therefore, the company’s name and brand will ensure it thrives well against other competing organizations. Furthermore, developing countries have an increased awareness in the value of education and more children are being taken to school. In Africa, on the other hand, education barriers and bias against the female gender is slowly diminishing and more females are being taken to school. As such, the level of literacy in the developing countries is going to improve, and the society will appreciate several development issues. According to relev ant information, literacy tends to increase the value of an economy because more people get into employment and are able to become financially independent. Ten years from now, this will be the likely scenario in developing markets because more people will be financially worthy due to created employment opportunities. As such, Proctor and Gamble is bound to operate within profitable margins because the purchasing power of the local citizens will have improved. Despite the potential opportunities, Proctor and Gamble will still be exposed to various risks during the implementation process in the emerging markets (Monks, Minow 32). For instance, other societies have various preferences and attachments to products. This might be the scenario in Asian countries where social values and culture play a crucial role in the behavior and lifestyle of the people (Puckett, 6). As such, Proctor and Gamble may have a rough time convincing or even changing certain products to march their tastes and preferences (Puckett, 6). Furthermore, existing competitors in developing countries will trigger strong product wars because the existing organizations will have studied the market and the needs of consumers. As a result, Proctor and Gamble will need to be more innovative in order to realize substantial market capitalization. Political Issues. In developing countries, there are several political factors that determine the success or failure of an organization. As such, the factors can positively influence or hinder the progress of a company in the territories (Shah 5). Governments in the Far East, India, Malaysia and China have strict government regulations that operating companies have to follow. However, there are both opportunities and risks that are associated with these regulations. As a result of the global wave, however, most governments have removed some of the strict regulations in order to allow global operations and businesses to thrive well in their countries. With this trend spreading to various developing countries, Proctor and Gamble will have an opportunity to trade without strict restrictions that would prevent smooth operation of the company. Proctor and Gamble has already started making advances that would enable maximization of these opportunities. For example, the company has already declared its intention in setting up an oleochemichal plant in Indonesia in order to secure a stable future supply for its fatty alcohol requirements (Proctor Gamble, 20-52). According to relevant sources, Proctor and Gamble has secured $100 million for the future investment in the Indonesian soil. On the other hand, Proctor and Gamble will have to face various risks that are usually associated with developing countries. Political instability is a leading cause of instability in developing countries and may negatively impact the operation and profitability of an organization (Sullivan 43). Several developing countries experience political instability due to an unstable government, civil wars and corruption among government officials (Puckett, 6). Such occurrences may hinder businesses operations and cause damages, overheads and other management issues. As Proctor and Gamble plans to enter the markets, it should be ready to face such risks in the near future. Additionally, other countries impose unusually high tax policies that would impact the profitability of the operating companies. In most African countries, for example, government imposes heavy taxes on the working population and operating companies. As a result, both the purchasing power and the profits margin of the operating companies are negatively affected. In the long run, some companies may fail to break even in the planned duration or even shut down due to excessive operating costs. Therefore, Proctor and Gamble will be exposed to this risk of operation and should be prepared for the worst case. Environmental Issues. In the current world, environmental issues are a serious concern and in many countries, the global perspective is preferred. For instance, several projects are undertaken with regards to their sustainability and value to the environment. In line with the global sustainability requirements, several governments have established their environmental laws to cater for efficiency such as the reduction in energy consumption, water consumption and reduction in carbon dioxide emissions (Proctor Gamble, 17). As a global initiative, several countries are taking part in these movements. Therefore, the governing laws encourage people and organizations to help make the world a more habitable place now, and several decades to come (Shah 5). Through such activities, the people are informed and learn how to use and manage resources. In the long run, the people will lead healthy lives; hence, save on hospital bills, medications and other associated costs. All these occurrences will enable the population in developing countries to be more sustainable and a ble to support their families because of improved living standards. As a result, the resultant population will eventually increase their ability to spend on their own improvement. In that sense, Proctor and Gamble will explore this opportunity and operate sustainably in such countries. The best part is that Proctor and Gamble has already taken an initiative to uphold sustainability among several developing countries such as in India, Malaysia and sub-Saharan Africa (Monks, Minow 32). The company has successfully managed to deliver clean drinking water to needy children all over the world in an effort to improve their lives (Proctor Gamble Company 5). As such, it has made a strong impact that will last impact the society. In the future, unfortunately, some governments would impose strict rules that would negatively impact the operations and profitability of Proctor and Gamble in their countries (Sullivan 43). These rules may include heavy ban on certain raw materials such as wood i n order to prevent deforestation and the slow process of desertification. Since the company heavily uses pulp in the manufacture of products and packaging material, it may have to find alternatives at the expense of its profitability. Therefore, such imposed bans would result in high operation costs and subsequent reduction in the company’s profit margins. Other regions such the European Union have strict environmental laws that determine the quality of products and the acceptable chemical compositions (Sullivan 43). In cosmetics products, for instance, harmful chemical products may be controlled by such laws and enormous fines would be imposed if such chemicals are reported to exist at harmful concentration levels. Proctor and Gamble will also incur further expenses in efforts to respond to strict laws. Conclusions and Recommendations. Several decades ago, many organizations operated without much regulation that would impact the operation of such organizations in a great man ner. Companies were established, operated, and several sustainability factors were never given the utmost attention. As a result, there was inadequate consumer protection laws, environmental laws, as well as, risk assessment procedures. With increasing awareness on the impacts of such establishments, the society started planning ways of protecting the environment, people and animals through setting up the governing rules. These rules and regulations change as time goes to accommodate the factors handled at one moment in time. Therefore, organization has grown and adapted to match the requirements of the society and deliver the best on its part. Proctor and Gamble, for example, has existed for more than a century and has undergone a series of changes through several generations. At the moment, Proctor and Gamble is a multinational company with products in excess of 300 and operates globally in more than 80 countries. As highlighted in the document, the company is a market leader and takes a strong lead in innovations. For instance, relevant sources have indicated that, on a yearly basis, the company introduces one to two leading brands into the market. In approximately 10 years from now, the company is devising strategies of reaching emerging markets. In connection to that, the company will be exposed to several opportunities within the political, social, economical and environmental perspectives. However, the success of the company depends on its ability to innovate and set up strategies that will carry it forward through the markets (Monks, Minow 32). On the other hand, the company will still face risks that may result from operating within the markets. As mentioned in the paper, the risks are numerous, and the company will have to create ways of negotiating past the risks (Sewell 2). As a market leader, the company must have the tactics of operating in exceptional markets and still emerge victorious in the end. Proctor and Gamble is a market leader and a pa ce setter; hence, it is inevitable to mention that it leans more on the success side than the failure side. Finally, I would like to conclude that constant improvement in organizational skills, innovation skills and marketing skills is the key to a successful organization. Federal Institute of Risk Assessment. â€Å"5th World Congress on Alternatives and Animal Use in the Life Sciences.† Bfr.bund.de. Bfr.bund.de, 2005. Web. Funding Universe. â€Å"The Proctor Gamble Company.† Fundinguniverse.com.  Fundinguniverse.com, 2011. Web. Isidore, Chris. â€Å"Europe Recession Risk grows, with or without Debt Default.†Ã‚  Financeyahoo.com. Financeyahoo.com, 2011. Web. McGowan, Evan. â€Å"Corporate Profile: Procter and Gamble.† Academy of Management  Journal, 12 (8). Pp. 20-28, 2006 Print. Monks, Roy, Minow, Nina. Corporate Governance, Oxford: Blackwell, 2005. Proctor Gamble Company. â€Å"New Long-Term Vision†. PG.com. PG.com, 2011. Web. Proctor Ga mble. â€Å"2010 Annual Report: Touching and Improving Lives.†Ã‚  Annualreport.pg.com. Annualreport.pg.com, 2010. Web. Puckett, Kathleen. â€Å"Business Risks Faced by Proctor Gamble in South Korea.†Ã‚  Polaris.umuc.edu. Polaris.umuc.edu, 2001. Web. Sewell, Dan. â€Å"Proctor Gamble Moves Towards Renewable Energy and Recycled Packaging in New Environmental Goals.† Huffingtonpost.com. Huffingtonpost.com, 2010. Web. Shah, Anup. â€Å"Global Issues: Social, Political, Economic and Environmental Issues That Affect Us All.† Globalissues.org. Globalissues.org, 2010. Web. Shailaja, Sharma. â€Å"Proctor Gamble Gains at Cost of Profitability.† Dnaindia.com.  Dnaindia.com, 2011. Web. Shedlock, Mike. â€Å"Proctor and Gamble Hopes to Turn the Tide.† Globaleconomic  analysis.blogspot.com. Globaleconomicanalysis.blogspot.com, 2009. Web. Stockhouse. â€Å"Proctor Gamble Makes Commitment at Clinton Global Initiative to Provide 2million People wit h Clean Drinking Water in East Africa.† Stockhouse.com. Stockhouse.com, 2011. Web. Sullivan, Joe. Exploring international business environments. Boston, MA: Pearson Custom Publishing, 1999. Wohi, Jessica. â€Å"Proctor Gamble Profit Tops Expectations.† Reuters.com.  Reuters.com, 2009. Web.

When to Use Dear and Deer

When to Use Dear and Deer The words dear and deer  are  homophones: they sound alike but have different meanings.As an adjective or adverb, dear means greatly loved or valued, high-priced, or earnest. (Dear is used with a name as a polite form of address.) As a noun, dear refers to a person who is loved or whos endearing. As an interjection, dear is used to express surprise, sympathy, or distress. The noun deer refers to a hoofed, ruminant mammal. (Plural, deer.) Examples It was hard to say goodbye to such dear friends.My family paid a terrible price, perhaps too dear a price for my commitment.(Nelson Mandela, Long Walk to Freedom, 2008)Her dear students were gaping like guppies, their eyes unblinking and their little mouths opening and closing silently.  (Joan Hess, Dear Miss Demeanor, 2007)She took the fall bravely, whacking her thigh painfully on the dressing-table corner. Oh dear, she gasped. Oh dear, oh dear, oh dear.  (Kate Morton, The Distant Hours, 2010)The deer is a remarkably adaptable animal, one that can live almost anywhere.

Business Function Essay Example | Topics and Well Written Essays - 1500 words - 1

Business Function - Essay Example In the second category, the enterprise is not registered with the relevant authority as a business. It comprises two types of ventures: This is the oldest, most common, and most basic business type. As the name suggests, this type of enterprise is owned and managed by one person, who is in charge of all operations conducted on behalf of the business. Since it is the easiest to start, it manifests in form of small retailers and utilities like beauty services, photographers, repairs and maintenance, transport, cleaning, etc (Akdeniz, 2013:16). This type of business is inexpensive to start and, as a result, is often supported by the founder’s savings until growth necessitates external funding. In its simplest form, a partnership resembles a sole trader, with the only difference occurring in the sharing of ownership (Gevurtz, 2014:21). All partnerships should have partnership agreements that explain the rights and responsibilities of the various partners involved. In light of this, there are different types of partners, who are all covered by the partnership agreement. For example, there may be dormant, â€Å"sleeping,† or quasi partners, who own a share of the enterprise but are not actively involved in its management (Cornell, 2013:36). Partnerships have unlimited liability, and are common in careers like accountancy, dentistry, medical practice, law, etc. Starting in 2001, there has been a new type of partnership known as a limited liability partnership. This is like a hybrid of a partnership and a limited company, since it has limited liability (like all limited companies) but must be owned by not less than two members (making it a partnership). Limited liability partnerships, also known as LLPs, are formed to aid professional partnerships among doctors, dentists, lawyers, accountants, and others, who are barred from forming limited companies because of constraints imposed by their professional

Comparision of the similarities and differences between Economic Value Research Paper

Comparision of the similarities and differences between Economic Value Added (EVA) and Residual Income as a measure of corporate performance - Research Paper Example The purpose of this paper is to discuss residual income and economic value addded approach in order to compare and contrast their differennces and similarities. EVA is a concept created by the consulting firm Stern Steward & Company (Keys & Azamhuzjaev & Mackey, 2001). EVA is a wealth metric that is commonly referred too as economic profits. In mathematical terms EVA is calculated by taking net operating profits after tax (NOPAT) and reducing NOPAT by your total cost of capital which includes the combination of borrowing and equity costs (Exinfm, 2009). EVA has become a very popular tool in the corporate world. Many multinational corporations have utilized the concept to increase the value of their common stock. After the inception of EVA Coca-Cola stocks rose 200% from 1987 to 1993; another example is CVX whose stock rose from $28 to $75 in a five year span after adopting EVA (Chen & Dodd, 2001). Despite the these sucesss stories there is not enough emperical evidence to support the claim that adopting the managerial practice to optimize EVA is correlated with price increments in stock valuation. EVA is a concept that is relalative new in c omparison with other financial metrics such as earnings per share (EPS) and residual income. The application of EVA and its support and validity may replace EPS in the future an indicator that is included in the income statements of public corporations.

Absence Of The Father Figure

Absence Of The Father Figure In a play that is very well written by a famous and talented writer, the absence of a father from a middle class family shows a sever effect on the children. Thomas Lanier Williams known as Tennessee Williams was the writer of a play titled The Glass Menagerie. Mr. Williams often saw his parents engaged in violent argument and how it frightened his sister Rose. His father who was a shoe sales man forced him out of college to work for the shoe company, but later in life he returned to college and won an essay contest. Tennessee Decided to become a play writer after watching a production of Henrik Isbens named Ghosts. In his lifetime he won several awards for his writing including 2 times the Pulitzer Prize. He suffered from deprecation in the last ten years of his life after losing his loved one to cancer. Mr. Williams battled alcohol and prescription drug addiction and ended his life chocking to death on a bottle cap in his New York City residence. In his play the Glass Menagerie he clearly pictured a lower middle class family with a crippled daughter, a mother who normally brags about her glorious days, a father who had left leaving behind not much but a bizarre massage and a brother who resented all of that and want to go and follow his dreams. First, the play takes place in the Wingfields apartment across an ally from a ball room. It is narrated by Tom who is also the son of Amanda, the mother, and the brother of Laura, the daughter. Amanda is a single mother trying to raise her children under a harsh financial condition. Frequently, she talks about her old days and how she was charming and wanted by too many Gentleman callers. Tom is the son who is obligated to let go of his dreams and work in a warehouse to support his family, but he cant just forget his passion for adventure, so he relive it by watch movies and imaging himself to be the main character. Laura, Amandas daughter, is a very shy young girl who is also crippled. She confines herself to her glass collection which is so fragile to hide away from the real world. Many critics consider her to be the main character of the play because of her ideal role as well as the play name. Jim OConnor who is Toms work mate and used to be Lauras class mate. He was invited to di ner by Tom to be a Gentleman caller to Laura, but he is committed to another person. Mr. Wingfield, which is represented by a Hugh portrait in the room, he is absent and no one knows where he is, and the only thing his family knows about his departure is that he left a massage saying hello and good bye. Second, the play is a classic about a single mother devoted to her children trying to raise them under a very harsh financial condition remembering her glory days and denying the fact that her daughter is handicapped. Amanda the mother wants the best for her daughter Laura. She wants her to marry a respectable Catholic man who has a good job and not a drunkard. Amanda asked her son Tom to bring a friend from work to be the gentleman caller for her daughter. Tom is son who works in a warehouse to support his mother and sister, he does not only hate the being a warehouse worker he dreams about leaving the house to follow his desire for adventure. Laura who is disabled and lacks self confidence, she hides behind a glass collection from the real world. Laura sees her disability as something that very shameful. She dropped out of college because of her low self steam, and finally a memory of a selfish father who left his family struggling to survive. Third, the writer used so many techniques which made the play exciting and very attractive to the audience. One of many was the symbolizations in which the writer used an object to reflect on the characters personality or feeling. In the Glass Menagerie, such methodology was used. Tom used to go out for smoke on the fire escape every time he gets upset of angered by his mother. Although the fire escape was just a place, the writer used to symbolize Toms desire to escape and leave this life style behind him. The glass collection itself symbolizes the fragility of Laura. Finally, the play is a very well written and structured in which the writer emphasize the role of each family member and their effect on the rest of the family. Thinking about the play, the idea of a mother that is abandoned by her husband to care for her children without much resources is well exploited. The absence of the father had lest undeniable effect on the whole family. The mother had to work hard and take on the role of the father too to raise her children. The daughter lacked self confidence and isolated herself from the outside world. The son was unable to go after his dreams for a while having to support his mother and sister ding what he hated. A portrait of father shows a missing part of that family.

Interpersonal Communication Com 200

Communication in Interpersonal Relationships Benjamin M. Phelps COM 200 Mrs. Joyce Walther October 4, 2010 Communication in Interpersonal Relationships Today many people still lack the ability to communicate effectively with in interpersonal relationships. It is through cooperation and collaboration that effective communication occurs. By analyzing and studying the communication process we can improve our ability to communicate effectively between one another. To have a successful interpersonal relationship one must first interact with others, which is called interpersonal communication (Hybels & Weaver, 2007).Recognizing emotions in other is a very important first step to building a relationship. If you can’t feel what someone else is feeling then you can’t connect with them on a personal level and that can hinder your relationship process. Interpersonal communication is important because of the functions it achieves. Whenever we engage in communication with anothe r person, we seek to gain information about them. We also give off information through a wide variety of verbal and non-verbal cues. Verbal communication has huge effects on many aspects of life, including interpersonal relationships.Speaking and telling our needs and wants verbally or non-verbally is a necessity for daily life. Verbal communication is organized by language; non-verbal communication is not. Most of us spend about 75 percent of our waking hours communicating our knowledge, thoughts, and ideas to others (Allis, 2002). However, most of us fail to realize that a great deal of our communication is of a non-verbal form as opposed to the oral and written forms. Non-verbal communication includes facial expressions, eye contact, tone of voice, body posture and motions, and positioning within groups.It may also include the way we wear our clothes or the silence we keep. In person-to-person communications our messages are sent on two levels simultaneously. If the nonverbal cue s and the spoken message are incongruous, the flow of communication is hindered. Right or wrong, the receiver of the communication tends to base the intentions of the sender on the non- verbal cues one receives. Before a person makes an attempt to form an interpersonal relationship they must decide what attracts them to that person.There are many factors that make up attraction to others. Physical attraction, perceived gain, similarities, differences, and proximity are some of them (Hybels, 2007). Most people are first attracted to others because of the way they look. Some people might have distinct characteristics that one might be attracted to such as; blues eyes, short hair, or even a small space between their teeth. If a person is not attracted to your appearance they are not likely to come up and carry on a conversation with you.For example, if an individual, who dislikes tattoos, is taking a class and has to choose a partner for a project, but there are only two people left an d one of them has tattoos he or she will mostly likely choose the individual without tattoos ,even    if the person with tattoos is a very intelligent individual. There are many cases where we are attracted to someone because of the perceived gain associated them for example, one might become friends with an employee at a restaurant in hope of having discounted meal when they eat there.The similarities and differences are a major factor in determining if the relationship will be right for you. Often we find ourselves attracted to people that share the same beliefs, values, and religion. Most people are also attracted to people who enjoy the same activities as they do. Contrary to the similarities people may also be attracted to the differences. For example, person who doesn’t like making decisions might be attracted to a strong decision maker.Because these characteristics complement each other, they might help strengthen the relationship (Hybels, 2007). Proximity is a valua ble factor also when it comes to evaluating the pros and cons of a relationship. Proximity is the close contact that occurs when people share an experience such as at work, school, or play (Hybels, 2007). If a person does not want to have a long distance romantic relationship and their partner moves away to attend college in another state, then it is most likely that the relationship will not last.Moving on to the next steps of forming an interpersonal relationship would be our motives for communicating. We are motivated to form relationships for many different reasons such as, pleasure, affection, inclusion, escape, relaxation, control and health (Hybels, 2007). If an individual is motivated by pleasure he or she might just want someone to go to the movies or discuss politics with. Maybe we might be motivated by affection; many people are looking for someone to give them attention; a â€Å"pat on the back† or a little kiss every now and then.Many marriages end in divorce bec ause of the lack of affection from their partner, but if they could have communicated effectively to each other that they needed more affection the relationship might not have ended. No matter what might motivate us, once we have started developing a relationship we have to decide how much of our selves we want to disclose to the relationship and at what point in the relationship. Self- disclosure is a process in which one person tells another person something he or she would not reveal to just anyone (Hybels, 2007).Self-disclosure is not simply providing information to another person. Instead, scholars define self-disclosure as sharing information with others that they would not normally know or discover (Borchers, 1999). Self-disclosure involves risk and vulnerability on the part of the person sharing the information. Self-disclosure performs many functions. It is also a way of gaining information about another person. We want to be able to predict the thoughts and actions of peop le we know. Self-disclosure is one way to learn about how another person thinks and feels.Once one person engages in self-disclosure, it is implied that the other person will also disclose personal information. Mutual disclosure deepens trust in the relationships and helps both people understand each other more. You also feel better about yourself and your relationship when the other person accepts what you tell them. While self disclosure can strengthen a relationship it can also damage it. A relationship can be damaged if the person you are pouring your soul out to do not like what they are hearing or if self-disclosure comes too early in a relationship it can be damaged.Thus, while self-disclosure is useful, it can also be damaging to a relationship. There are five different stages that we progress through while developing and strengthening our relationships, these are the â€Å"coming together† stages. No matter what type of relationship it is; romantic, platonic, or same gender relationship each kind still goes through each stages. The first stage is the initiating stage. The initiating stage is characterized by nervousness, caution, a bit of hesitation, and risk of being rejected (Hybels, 2007).Although one might proceed with caution, this stage can be very joyful experience and the outcomes can be great. Most people leave this stage with a new friend. The next stage is the experimenting stage. In this stage people make an effort to seek out common interest and experiences (Hybels, 2007). One might express a love for children and hopes of being a parent one day. This would be an important topic to discuss for a romantic relationship; each person needs to be aware of what the future might hold for them if they continue with the relationship.When experimenting with each other by discussing important topics and seeing the reactions of other, one can make a valid decision based on their knowledge of the other person to continue the relationship to the next stage. The intensifying stage is the third stage that we go through. Self-disclosure becomes more common in the intensifying stage. The relationship becomes less formal and statements are made about the level of commitment each has to the relationship. In this stage individuals might have nick names for one another or â€Å"inside jokes†.A statement about attending a vacation next summer in France is an example of the commitment one might have for the relationship. But while self-disclosure becomes more common and makes the relationship stronger it can also make the participants vulnerable to each other. The integrating stage is the fourth stage. This is the point where personalities are beginning to merge; people are expecting to see them together (Hybels, 2007). The individuals become a pair. They begin to do things together and, importantly, others come to see them as a pair.A shared relational identity also starts to form in this stage. By the end of this stage indi viduals should know how to communicate and responds with ease and understanding of the other person’s feelings. The final stage of coming together is the bonding stage. At this point, the participants make some sort of commitment that announces their relationship to those around them (Hybels, 2007). Two girls friends might say they are now â€Å"best friends† to announce their comment to their relationship or a couple might announce they are getting married or buying a house together.This stage involves a lot of commitment and dedication to the relationship and to each other. In all of the stages discussed we all have decision to make. We can either progress forward to the next stage, stay in the same stage we are in, move back a stage or exit the relationship all together. No matter what we as individuals choose to do we need to know how to communicate effectively to that next stage and we need to know how to handle conflict or resolve conflict in our relationships.We can do this by conflict resolution, which is negotiating to find a solution to the conflict (Hybels, 2007). Depending on how a conflict is resolved it can produce a positive or negative result. For example if two sisters are fight over a dress to wear on the weekend, they have two choices: one wear the dress and the other one does not, which leaves one sister unhappy (negative outcome) or neither of them wear it, so both are satisfied and neither of them are jealous of the other (positive outcome).It also helps to take a positive approach to conflict resolution, where discussion is considerate and non-confrontational, and the heart of the matter is on issues rather than on individuals. If this is done, then, as long as people listen carefully and explore facts, issues and possible solutions properly, conflict can often be resolved effectively. In short, interpersonal communication is just like any other works of life, it must be practiced and utilized regularly in order to be succe ssful. We must continually analyze and study it in order to improve our ability to communicate effectively in relationships.   That will lead to better relationships which lead to a better life, both personally and professionally.References Allis, R. (2002). Non-verbal Communication. Zeromillion. com. Retrieved September 25, 2010, from http://www. zeromillion. com/business/management/non-verbal- communication. html Borchers, T. (1999). Interpersonal Communication. Allyn & Bacon. Retrieved September 22, 2010, from http://www. abacon. com/commstudies/interpersonal/interpersonal. html Hybels, S. , & Weaver, R. (2007). Communicating Effectively. New York: McGraw-Hill

Why Do Students Procrastinate - 1014 Words

Throughout my college career, there have been many moments where I’ve procrastinated doing homework, starting projects and studying for exams. I look back and constantly find myself coming up with excuses for why I couldn’t get an assignment accomplished prior to the night before it’s due. When in reality, the work should have been completed at least a week in advance. However, I’m not the only one whom delays getting school obligations done. Including myself, numerous college students struggle with procrastination. Julian Gordan’s presentation, â€Å"No All-Nighters: How to End Procrastination Perfectionism Forever,† did an outstanding job at addressing postponing school work. His principles consisted of comprehending the act of procrastination. Why do students procrastinate? How do they delay their obligations? And what specifically do they postpone? More in depth, his examples consisted of the effort-outcome grid, time management, knowing when to say no, and setting long and short-term goals. All of which I can say have been stable in my life, especially as a student leader. Continually, the role that I play in the student body gives me a great advantage in implementing these strategies in other people’s life. Of course, I haven’t perfected them, but I believe in everything being a learning experience, so, while implementing these principles in other people’s life, I will keep on being educated along with them. 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