Letter to a friend regarding interesting experience in Management Class Essay Example for Free

Letter to a friend regarding interesting experience in Management Class Essay Hope all is well at your end. It has been a long time since I last heard from you. I guess you have a busy and hectic university schedule like mine which does not allow you much time apart from your course work. I don’t blame you at all because I know what a roller coaster ride this business studies really is. I am on my summer vacations now so I finally got some time to correspond with you. I would like to update you with my experience so far with my courses. I would specially like to brief you on my enthralling and interesting experience in my Management class. Business studies have an array of different courses to offer. All these courses have their application in real life, if not fully, then at least to some extent. The most common term which is associated with business people is ‘managers’ which brings us to the most basic and necessary course of Management. Management is the basic requirement of any organization and is the foundation of running a business. Without it business would be nil and there would be total chaos and catastrophe. Management has tons of practical application and offers concepts which have vast dimensions and scope. This course has been the most interesting and enthralling learning experience so far in my studies. Of course I can not give you account of the entire course but I would like to mention one very exciting and challenging activity which was conducted in the management class. This activity was regarding teamwork. You must also have learnt a lot in your engineering studies how there are different teams of engineers that take up huge scale projects. Same goes here in our business studies as well. There are various different kinds of teams such as self managed teams, cross functional teams, special purpose teams and so on. The activity which we did was regarding the most famous kind of team; problem solving team. As you must have got the idea from the name, problem solving teams or also famously known as task forces are teams that are formed especially for a problem to be solved which can not be catered to and solved by the existing organizational structure. This team brings in members varying according to the nature of the problem from different departments of the organization. This shows that problem solving teams are cross functional. (Reference for Business, 2010) The activity was conducted in such a manner that our Management course instructor first explained to us all the different types of teams which involved problem solving team as well. Then to demonstrate how the problem solving team really works in the real world he divided our class into different groups. Each group comprised of 8 members each and each group was handed a business related problem which needed to be solved. We were given a time frame of 50 minutes in which we had to come up with a plan of action to solve the problem and then we were required to present it. This was a really challenging and exciting activity. The problem which was handed to my group was that we were required to suppose a business organization that dealt in supplying of different beverages in 48 out of 50 states of U.S.   There were complaints from three major states which were Arizona, Kansas and Colorado. The major complaints were of similar nature that the supply of the beverages was not on schedule, the stock that reached to retailers was not in good condition and that the beverages supplied were not in accordance with the demand of the people. We were required to discover the reasons that why were these problems occurring in only 3 of the 48 states and what erroneous actions were responsible for these three major complaints. We approached this problem in a very professional way. We first decided upon who will lead the group and fortunately the group members general consensus was for me as a team leader. As a team leader I was the one who had to approve the final plan of action with the input suggestions and research of the different members. We decided upon that our team had members from various departments of Finance, Marketing, Sales, Research and Development and Distribution Management. We formulated our problem solving report in such a manner that first we gave a brief introduction of the problems. Then we assumed different logical reasons which could have been behind these complaints. The reasons and findings that we listed in our report were that our suppliers were categorized into 16 different teams. Each team was given 3 states for which they were responsible of supplying the beverage. One particular team was given the states of Arizona, Kansas and Colorado as they are geographically situated close to each other. As the complaints were regarding these three states hence we found that the supplier team was performing some erroneous actions due to which these complaints arose. On further imaginary research we found out the findings for each of the complaints. First we found that this team was complaint about in past as well by number of retailers regarding their lethargic attitude and poor display of punctuality. So it was found out that the team comprised of members who were irresponsible and did not meet the time restrictions of the schedule which resulted in late supply of the stock of beverages. Second complaint was due to the same reason as first. The reckless attitude of the particular team showed that they mishandled the stocks. Beverages are objects held in fragile coverings and bottles and need to be handled with care which this particular team did not display. The third complain was that of the supply not in accordance with the demand which again was due to the poor performance and reckless and untrained staff of this team. They did not record and process the orders properly which resulted in the wrong supply frequently that bothered numerous retailers. So after we had our findings we were now in position to develop a plan of action based on these findings. The plan of action was formed with collaboration with the different departments of the organization. The action decided upon to be taken was that this particular team was to be fired. Other teams would be also appraised on performance to see whether they were a source of complaints in their states or not and whether they are up to the mark or not. All those members that won’t be up to the mark would either be trained or fired. The empty vacancies would be filled by renewed hiring of the staff which would take special care that highly trained and responsible staff is hired. For the entire plan of action to carry out special assistance would be required from Human Resource Department. This concluded our entire report for the solution of problem. We then presented the whole scenario, our findings and proposed solution in front of the entire class. As Group leader I took the responsibility of presenting. It was really good experience to present in front of the entire class. The teacher appreciated our approach to the problem and gave us a few helpful additional suggestions which would give edge to our report. The class also applauded our presentation and our presentation was ranked the best in all the presentations.   All this was due to combined team effort. This was the experience I wanted to share with you. It was not just a moment of pride for me because of the best presentation, but the activity itself was so exciting and fruitful to provide us with concepts that I could not resist but share with you. I am sure you have experienced such exciting activities at your university as well. I am really looking forward to hear from you your eventful time at university. I hope you are having a good time and enjoying the studies because I think you can not learn until you enjoy you studies. Hope to hear from you very soon. I am looking forward to your reply and account of the activities at university. Hope to see you soon. Take care. Reference: Reference for Business. (2010). Teams and Team work. Retrieved May 15, 2010, from,

The reasons that caused Lehman Brothers to collapse

The reasons that caused Lehman Brothers to collapse The bankruptcy of Lehman Brothers was a result of the investment banks exposure to the 2007-2010 financial crisis. In fact, the demise of the investment bank would come to symbolize the crisis. Therefore, in order to understand the Lehman Brothers bankruptcy, a consummate understanding of the 2007-2010 financial crisis is requisite. As such, an examination of crisis will serve as introductory. Several factors contributed to the fall of Lehman Brothers. Perhaps most important, however, was the period of deregulation that preceded the crisis. Arguably, the period of deregulation started during the Reagan Era. Reaganomics, the lassiez faireeconomic policies advocated by the former president, may have served as the starting point for the deregulatory climate that ensued for the following two decades. Either way, the following two decades witnessed an overriding belief in the virtues of deregulation. In 1999, President Clinton signed the Gramm-Leach-Bliley Financial Services Modernization Act into law. The act repealed portions of the Glass-Steagall Act (Banking Act of 1933). The Glass-Steagall Act prohibited universal banking. Universal banking is defined as a single institution acting as an investment bank, a commercial bank, and an insurance company(Investopedia). The repeal of Glass-Steagall allowed for harmful activity on the part of several financial intermediaries, including Lehman Brothers. For example, commercial banks played a crucial role as buyers and sellers of mortgage-backed securities, credit-default swaps and other explosive financial derivatives. Without the watering down and ultimate repeal of Glass-Steagall, the banks would have been barred from most of these activities (Demos 3). Several other factors contributed to the financial crisis, including:subprime lending, credit conditions, financial instruments, and an increase in home prices. Many subprime mortgages were predatory in nature. Often, the borrower had little chance of repayment. As mortgages were often bundled and sold, lenders were less concerned with a borrowers ability to repay the mortgage. In addition, over 80% of subprime mortgages were adjustable-rate mortgages (ARMs)(Lee).A combination of declining home prices and higher reset rates for ARMs caused delinquencies to increase dramatically. Subprime lending was fueled by low interest rates. After September 11, 2001, the Fed lowered rates. In periods of low interest rates, lending becomes more profitable. As such, banks were pressured to increase subprime lending. By 2006, subprime loans accounted for 20 percent of all mortgage loans (Kratz). The use of financial innovation to create complex financial instruments (derivatives) played a significant role in both subprime lending and the financial crisis. For example, banks sold mortgages, through the securitization process, to investors, in order to finance subprime lending. Asset-backed securities (ABSs) were a common securitization arrangement. A portfolio of income-producing assets (loans) is sold by the originating banks to a special purpose vehicle and the cash flows from the assets are then allocated to tranches (Hull 190). The securitized loan is then sold to investors as an ABS. The process is depicted below. ABS CDS In addition, another derivative, a credit default swap (CDS), was designed to provide insurance to protect against default. CDSs allowed investors to synthetically bet against the asset-backed securities. The process is akin to multiple people buying insurance on the same house (Demos). As such, when mortgages began to default, causing the value of ABSs to decline, the losses to insurance agencies were magnified. The combination of all three of the aforementioned factors caused a remarkable increase in home prices. Low interest rates encouraged borrowing. In addition, many subprime borrowers believed home prices would continue to appreciate in perpetuity. As such, subprime borrowers acquired ARMs. ARMs were a product of the financial innovation mentioned earlier. Between 1997 and 2006, the amalgamation of these factors resulted in a 124 percent increase in home prices (SP/Case-Shiller). Market Making In order to better understand the collapse of Lehman Brothers, it is necessary to examine the functions and practices of an investment bank. The sales and trading desks at investment banks had primarily acted as market makers. Market makers are a broker-dealer firms that  accept the risk of holding a  certain number of shares of a particular security in order to facilitate trading in that security (Investopedia). In other words, market makers provide liquidity to markets by quoting both bid and offer prices. In contrast,investment banks eventually began proprietary trading. Proprietary trading involves taking positions in assets, as opposed to profiting from the bid-offer spread (market making). Lehman Brothers, through proprietary trading, had large levered positions in both subprime mortgages and mortgage-backed securities. When the value of these assets began to decline, the firms equity was wiped out and the bank became insolvent. Proprietary Trading Collapse On September 15, 2008, Lehman Brothers filed for chapter 11 bankruptcy. This was the largest bankruptcy filing in U.S. history. The bank declared a debt of $613 billion, bond debt of $155 billion and $639 billion worth of assets. The demise of Lehman Brothers was caused by a combination of the rejection of bailout from the government, lack of a willing buyer, and the mortgage crisis. The reasons behind the government rejection of a Lehman Brothers bailout are hotly contested. Prior to Lehmans bankruptcy, the government had saved both American Insurance Group (AIG) and Bear Sterns from a similar fate. According to Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke, the government failed to bailout Lehman Brothers for two reasons. First, the government lacked legal authority to intervene. Second, Lehman had insufficient capital. The Federal Reserve could only make a loan, Bernanke explained, if collateral supported ità ¢Ã¢â€š ¬Ã‚ ¦Giving Lehman a loan then would be lending into a run, Bernanke feltà ¢Ã¢â€š ¬Ã‚ ¦ The assessment was that if there was a run, which there would be . . . all we would have accomplished would be to make counterparties whole and not succeed in preventing the collapse of the company (dailyfinance.com).Many theorize that the government didnt save Lehman Brothers in order to teach market participants a lesson. However , Bernanke refutes, I speak for myself, and I think I can speak for others, that at no time did we say, We could save Lehman, but we wont. Our concern was about the financial system, and we knew the implications for the greater financial system would be catastrophic, and it was (dailyfinance.com). Lehman Brothershad potential buyers in bothBank of America and Barclays Capital. However, without government assistance,both Bank of America and Barclays Capital walked. Lehman was forced into liquidation. September 16, 2008, the day following Lehman Brothers file for bankruptcy, Barclays signed a definitive agreement to acquire certain parts of Lehman as well as their New York headquarters building. The deal was revised days later for Barclays to acquire the core business of Lehman Brothers including their $960 million Midtown Manhattan office skyscraper and 10,000 employees for $1.35 billion. With few other options, Lehman had little choice but to acquiesce. On September 22, 2008, Nomura Holdings Inc. acquired Lehman Brothers franchise in the Asia Pacific region including multiple locations and 3,000 employees. The mortgage crisis played a significant role in the collapse of Lehman Brothers. Lehman was a major player in subprime lending. Lehman was a leader in both mortgage lending and loans securitization of mortgages. Subprime lending and securitization represented an increasing large portion of Lehmans revenues. As such, the firm was irrevocably linked to the mortgage market. When mortgage default rates began to rise, demand for MBSs decreased. Lehman was stuck with billions of dollars of toxic assets on its balance sheet. Lehman would eventually close its mortgage lending operations. The following year, due to holding on to large positions in subprime and other lower-rated mortgage tranches, Lehman faced significant losses. By 2007, Lehmans leverage ratio (measurement of risk) also increased tremendously to 31:1 putting them in a very vulnerable position because they were too thinly capitalized for the leverage used. This was allowed because they were not subject to the same regulations as depository banks. Deregulation allowed for Lehman to take those increasingly risky positions. Market Effects Lehman Brothers bankruptcy filing on September 15, 2008 caused the DJIA to drop over 500 points (-4.4%). September 15, 2008 marked the biggest one day drop since the markets reopened following September 11, 2001. The DJIA would eventually lose an additional 43% of its value, erasing more than US$ 1 T in market capitalization. World stock market indices suffered a similar fate. The FTSE All-World Index would eventually lose 2400 points (44% of its value). The prospect of Lehman liquidating $4.3 billion in mortgage securities sparked a selloff in the commercial mortgage-backed security (MBS) market. Several money and institutional funds had significant exposure to Lehman. BNY Mellons institutional cash fund and the primary reserve fund (an MMMF) both fell below $1 per share due to exposure to Lehman. The Net Asset Value (NAV) of MMMFs normally stays constant at $1 because investment products usually do not produce capital gains or losses (Investopedia). This event was referred to as the breaking of the buck. Overall systematic risk increased drastically as a result of the bankruptcy filing. Due to the increase in systemic risk, there was a US$ 737 B decline in collateral outstanding in the securities lending market. In addition, the TED Spread, the spread between U.S. treasury rates and LIBOR rates, increased almost 400 basis points. Essentially, the dramatic increase in the TED spread was due to overwhelming uncertainty. LIBOR rates incorporate a small amount of credit risk; U.S. Treasury rates are seen as virtually risk-free. The uncertainty caused the rate differential between a small amount of credit risk and risk-free to widen. After the Lehman Brothers bankruptcy filing, in order to address the escalating crisis, the government created the Troubles Assets Relief Program (TARP). TARP was designed to purchase both assets and equity from financial intermediaries (FIs). The purpose of its design was threefold. First, by purchasing assets, the government hoped to remove toxic assets from the banks balance sheets. Second, by increasing equity positions, TARP recapitalized the troubled banks. Third, TARP was also implemented to encourage inter-bank lending. Opinion The bankruptcy of Lehman Brothers was preventable. The preventability of the Lehman Brothers bankruptcy is primarily due to three factors. First, corporate culture is dictated by upper-level management (this is especially true in top-down hierarchical organizations). At Lehman Brothers, CEO Richard Fuld created a culture of risk taking. A corporate culture that reflected conservatism could have prevented the banks demise. Second, as a corollary, tougher risk management policies could have prevented risk taking behavior. For example, by historical measures, Lehman had a tremendous used a tremendous amount of leverage. As mentioned, a 3 percent decline in asset prices would wipe out the firms equity. A leverage cap could have been used to prevent the overuse of leverage. Third, the weak economic climate was disastrous for Lehman. Lehman had large positions in the mortgage market. When the market began to decline, those positions went against the investment bank. To prevent the three factors, the firm should have hired a CEO that advocated a less risky business strategy. In addition, reduce employees compensation based on profit generation. The firm could have also employed a more market neutral trading strategy. In doing so, Lehman would have avoided insolvency. As mentioned, several ways exist to prevent the failure of the investment bank. However,all the above approaches Lehman CEO Richard Fuld are tailored to Lehman Brothers unique situation. They may or may not, however, be industry-wide or socially beneficial.To prevent another financial crisis and, therefore, the failure of financial institutions, we must align the self-interests of those institutions with societal interests. The following are recommendations for aligning the above interests: à ¢- Long-term Incentive Structure à ¢- Fiduciary Responsibility à ¢- Promote Financial Education à ¢- Prevent the Manipulation of Social Interests We need to develop a long-term incentive structure to prevent executives trying to capture profit upfront at expense of the company and/or societys long-term interests. We could design a longer-term incentive structure that employees will be compensated for their performance over longer periods of times other than the currently yearly compensation. Also we could design compensation program make the compensations based on certain activities callable in the future, if the loss of the company is deemed directly related to the those activities that the compensations are based on. Fiduciary responsibility should be mandatory and financial institutions should be held legally accountable. We need to require full disclosure of conflict of interest, not only in the event that two parties have a direct interest conflict, but also full disclosure when companies providing a financial service have different opinions than the clients current position. In addition, we should expand the concept of full disclosure. We propose making academic researchers disclose the benefit they are getting from financial institutions, including board positions and monetary compensation. Promote education of the general public. Specifically, implement finance classes in public high schools, ensuring all students are aware of market basics. In addition, make firms provide optional education on specific products to clients. Lastly, we must reduce or eliminate attempts to make social interests subservient to self-interests. This concept could apply to all industries. We could limit the funding of lobbyists a firm could hire, and highly restrict the political donations from large firms.We must also eliminate the links between government regulators and market participants, eliminating the conflict of interest between corporations and society. In general, the aforementioned actions are attempts to align self-interest with the social interest. Self-interest, the invisible hand in the successful free market system, must be made to serve the interest of the society. Conclusion This report has examined the following: the Lehman Brothers bankruptcy, the bankruptcys causes, the culpable parties, market effects of the bankruptcy, and risk management errors relating to the bankruptcy. In addition, the opinion section of the paper answers the question, Was the bankruptcy preventable? In summary, on September 15, 2008, the Lehman Brothers filed for bankruptcy. It was the largest bankruptcy filing in U.S. history. Several causes forced Lehman into bankruptcy. Of primary importance, however, was the investment banks exposure to the subprime mortgage market. Deregulation and risk management errors allowed Lehman to increase that exposure. Lehmans CEO Richard Fuld, Treasury Secretary Henry Paulson, and Fed Chairman Ben Bernanke are each culpable. Mr. Fuld is responsible because he created a culture of risk taking and pay based on short-term performance. Henry Paulson and Mr. Bernanke could have saved the bank and chose to do otherwise. We believe this event was entirely preventable. As mentioned, the banks exposure to the subprime mortgage market was, ultimately, its downfall. If more stringent risk management policies had been in place and Lehmans corporate culture had been more conservative, the banks exposure to the crisis would have been reduced. Reduced exposure would have undoubtedly increased Lehmans chances for survival. A singular theme continuously appeared while we conducted our research and, consequently, appeared throughout this report. That theme is greed. Greed is defined as excessive or rapacious desire, especially for wealth or possessions. Unquestionably, human greed contributed to the 2007-2010 financial crisis. Both financial intermediaries and individuals erred. For example, AIG reported record profits in 2007. Unfortunately, the insurer earned those profits by taking on enormous amounts of Off-Balance-Sheet risk. These OBS liabilities (contingent liabilities) resulted in an $85 B government bailout of the firm. Individuals speculated on home prices by refinancing mortgages. Often times, these loans were secured by home equity. When home prices declined, the mortgages went underwater.Mortgage defaults soared. In both cases, greed blinded the market participants. Lehman Brothers wasnt impervious to the rapacious desire either. Leverage is the use of either borrowed money and/or derivatives to multiply gains and losses. The multiplication of gains and losses (greater volatility) implies an increase in risk. Recklessly increasing risk demonstrates an excessive desire for wealth.Therefore, leverage metrics (ratios) can be used tomeasure greed. Prior to the crisis, Lehmans leverage ratios soared. Viewing a single financial product, event, action, or asset bubble as the sole cause of the crisis is overly simplistic. Greed served as a catalyst for each. By ignoring this fact, we are doomed to repeat our mistakes.

Sociology: Privilege :: Sociology Essays

1. (a) Privilege is defined as a favor or right granted to some people, but not to everyone. (b) Power is defined as strength, ability, or a driving force. (c) Difference is defined as the way in which two things are not the same. (d) According to MacIntosh there are two types of privileges. The first is based on what she calls â€Å"unearned entitlements,† which are things that all people should have. Some examples are feeling safe in a public place or working in a place where they feel that they belong and are valued for what they can contribute. The other type of privilege is what MacIntosh calls â€Å"unearned advantage,† and occurs when â€Å"unearned entitlements† are restricted to certain groups. An example would be a white person feeling out of place at a downtown nightclub. (e) The paradox in privilege is that individuals are the one’s who experience privilege or the lack of it, but individuals are not what are actually privileged. Instead, privilege is defined in relation to a group or a social category. For example, race privilege is mo re about white people than it is about white people. Privileges are only granted in society when people identify the individual as belonging to a specific category, race, gender, or cultural background. By saying that oppression is the flip side of privilege the author means that for every social category that is privileged, one or more other categories are oppressed in relation to it. Oppression points toward the social forces that â€Å"press† upon people and hold them back, thus blocking their pursuit of a good life. 2. (a) Capitalism is defined as an economic system based on ownership of resources by individuals or companies and not by the state. Capitalism as it relates to sociology has to do with the fact that it not only produces enormous amounts of wealth, but that it creates extreme levels of inequality among social classes and societies. Capitalism also has made the rich richer and the poor poorer and has opened the gap in the U.S. class system. The matrix of domination says that each particular form of privilege, whether based on race, gender, sexual orientation, class, religion, or ethnicity, exists only as a much larger system of privilege. It works by simplifying and clarifying the gray areas that we encounter in privilege. It allows us to see that each form of privilege exists only in relation to all the rest and keeps us from trying to figure out which is the worst or most oppressive.

Rowing :: essays research papers

Rowing, the Best Team Sport   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Rowing, the thrilling team sport that gets you physically/mentally fit and provides you a second family with many friends. In the sport of crew, teamwork is very crucial. With that teamwork comes new friends and wonderful coaches. Even though you might think this is a physical sport it is also considered to be a mental sport. Just think, baseball has nine innings, approximately two hours of play and a lot can change in that period of time for a loss or win. With crew you only have about seven minutes to get your eight man boat down a two thousand-meter racecourse to receive a medal or win. If you have the lead it is mentally hard to come back and win for the rowers behind the top three boats. Aside of the teamwork going on is the individual effort that you yourself is contributing to the boat. As you are out on the water in the eight man boat you always need to give it your all even if it means pain. In fact, our coach just tells us to eat pain. As you are giving 100% and in pain, your brain is working 100% too. Handle height, legs down quick and hands down and away quick along with the part of feathering the blade. Those are the things you focus on during a race. Oh yeah you also have a cool little person screaming at you to pull harder. They are known as the coxswain (Cox-in). When the coach isn’t there listen to them because they are the assistant coaches. All this is the first stride you take to get that gold medal. Come on you can do one more push up! When you’re in the gym you do not have the support of teammates. At crew you will not give up because of the support you have from your teammates behind you. In the gym you can just say, â€Å"Oh that set can be done another day,† and give up. We have in crew on Tuesday and Thursday a 2k-meter ergometer (erg) test to see who will be in an 8A boat, that is our eight fastest men of our crew. These are the days that you need your friends behind you pushing you so your time comes true that the couch gives you. I know this might seem harsh but when it is all over with you feel very great about the way you look and how you just pulled on the 2k test.

Communism and Mise-en-Scene Technique in the Film Yellow Earth Essay

Communism and Mise-en-Scene Technique in the Film Yellow Earth As one of the earliest films to come out of communist China’s new film schools in the 1980s, director Chen Kaige’s Yellow Earth reveals much about the Chinese communist party’s interpretation of the years before 1949 (the year of the Communist victory in China). Yellow Earth takes on the appearance of Communist propaganda films as the plot and themes develop. The minimalist mise-en-scene technique effectively illustrates the activities and rituals of daily rural Chinese life throughout the film. Nowhere in the film is the effectiveness of this technique more apparent than in the final scene when Han-Han struggles against the crowd to return to Gu. Many of the scenes in Yellow Earth feature long takes that fully illustrate the true passage of time. For instance, characters are often shown walking across the hills and fields from one location to another. Rather than cut these scenes and imply the length of the journey, Kaige leaves the scenes intact, allowing the viewer to fully grasp the vast expanse of space and t...

Toothpaste and Colgate

INDEX S. No. | CONTENTS| PageNo. | 1| COMPANY PROFILE| 4| 2| INTRODUCTION| 5-7| 3| COMPANY HISTORY| 9-12| 4| MARKETING MIX| 11-16| 5| BCG MATRIX| 14-18| 6| SWOT ANALYSIS| | 7| STP ANALYSIS| | 8| BALACESHEET| | 9| RECOMMANDATIONS| | 9| CONCLUSION| | 10| | | COMPANY PROFILE Company name Colgate Palmolive Ltd. Date of Establishment 1937 Revenue 347. 188 (USD in Millions) Market Cap 111160. 5286158 (Rs.In millions) Corporate Address Colgate Research Centre, Main Street Hiranandani Gardens Powai ,Mumbai-400076, Maharashtra WWW. colgate. co. in Management Details Chair person – J Skala MD – R D CalmeyerDirectors – Derrick Samuel, J K Setna,Skala, K V Vaidyaanathan, M Elias,PK Ghosh, R A Shah, V S Mehta Business Operation Household &Personal Products Background Colgate-palmolive is Rs 1. 300 crore company started in year 1937. In Rs 2,400 crore domestic market it enjoys 50% of markets share.It spread across 4. 5 million retails outlets out of which 1. 5 million are direct outlets. Financials Total Income – Rs 20606. 60 Million (year Ending Mar 2010) Net Profit – Rs 4232. 60 Million (year Ending Mar 2010) Company Secretary K V VaidyanathanINTRODUCTION * Colgate – Palmolive Company is an American diversified multinational corporation focused on the production, distribution and provision of household, healthcare and personal products, such as soaps, detergents, and oral hygiene products (including toothpaste and toothbrushes). * Under its â€Å"Hills† brand, it is also a manufacturer of veterinary products. The company’s corporate offices are on Park Avenue in New York City, across from the Waldrof Astoria. * In India, it operates under the name as Colgate-Palmolive (India) limited and its head office is at Mumbai. Colgate Palmolive is a $10. 6 billion global company serving people in more than 200 countries and territories with consumer products that make lives healthier and more enjoyable. COLGATE PALMOLIVE INDIA: * Headquarter in Mumbai. * Annual Turnover around 1100 crs. * Market leaders in oral care. * Colgate consistently won India no 1 brand of the year award from last three years. * Colgate ranked among best employer in India. * Customer base of more than 8 lacs retailers. * Serviced by company field force, more than 1800 stockiest & super stockiest & their field force. Colgate is the brand that people trust, for complete oral care protection for themselves and ones they lov COMPANY HISTORY * 1806 – William Colgate starts a starch, soap and candle business on Dutch Street in New York City. * 1817 – First Colgate advertisement appears in a New York newspaper. * 1820 – Colgate establishes a starch factory in Jersey City, New Jersey. * 1857 – Upon the death of founder William Colgate, the company is reorganized as Colgate & Company under the management of Samuel Colgate, his son. * 1873 – Colgate introduces toothpaste in jars. * 1879 – Gerha rd Mennen establishes a pharmacy in Newark, NJ, later ecoming the Mennen Company. * 1896 – Colgate introduces toothpaste in a collapsible tube. * 1902 – Stylish Colgate advertising begins, emphasizing ingredient purity and product benefits. * 1906 – Colgate & Company celebrates its 100th anniversary. Product line includes over 800 different products. * 1911 – Colgate distributes two million tubes of toothpaste and toothbrushes to schools, and provides hygienists to demonstrate tooth brushing. * 1914 – Colgate establishes its first international subsidiary in Canada. * 1930 – On March 13, Colgate is first listed on the New York Stock Exchange. 1939 – Dr. Mark L. Morris develops a pet food to help save a guide dog named Buddy from kidney disease. This breakthrough leads to the first Hill's Prescription Diet product. * 1956 – Colgate opens corporate headquarters at 300 Park Avenue in New York City. * 1968 – Colgate toothpas te adds MFP Fluoride, clinically proven to reduce cavities. * 1972 – Colgate acquires Hoyt Laboratories, which later becomes Colgate Oral Pharmaceuticals. * 1985 – Colgate-Palmolive enters into a joint venture with Hong Kong-based Hawley ; Hazel, a leading oral care company, which adds strength in key Asian markets. 1989 – Annual Company sales surpass the $5 billion mark. * 1995 – Colgate enters Central Europe and Russia, expanding into fast-growing markets. * 1997 – Colgate Total toothpaste is introduced in the U. S. and quickly becomes the market leader. Only Colgate Total, with its 12-hour protection, fights a complete range of oral health problems. * 2004 – Colgate acquires the GABA oral care business in Europe, with its strength in the important European pharmacy channel and its ties with the dental community. * Today †¦Today, with sales surpassing $15 billion, Colgate focuses on four core businesses: Oral Care, Personal Care, Home Care and Pet Nutrition. Colgate now sells its products in over 200 countries and territories worldwide. MARKETING MIX MARKETING MIX CUSTOMER WANTS AND NEEDS PRODUCT COST TO SATISFY PROMOTION PLACE PRICE CONVIENCE TO BUY COMMUNICATION 1. Product :- * The product, the Precision toothbrush, is a product that should add value to a buyer’s life. * It should also add utility, and meet the wants and needs of targeted consumers. The product should be unique and different from all similar products that are already available on the market. * The strategy is to differentiate the product’s design and packaging, which in return will cause the toothbrush to stand out. VARIOUS TYPES OF COLGATE 2. Price:- * The price of a product says something about the quality. * Even though the quality of the Precision toothbrush will be significantly higher than other leading toothbrushes, the price of the toothbrush will be determined by the prices of the other toothbrushes already in the market . This pricing strategy is a result of positioning the toothbrush as a mainstream product rather than a niche product. COLGATE| 20gms| 40gms| 50gms| 75gms| 80gms| 100gms| 150gms| 200gms| 300gms| Dental cream| 5rs| —-| 14rs| —-| —-| 30rs| 45rs| 56rs| 86rs| Max fresh| —| —| 15rs| —| 32rs| 35rs| 55rs| —-| —| Total| —-| —-| —| 35rs| —| —| 65rs| —| —| Sensitive | —| —| 35rs| —| —| 60rs| —| —| —| Kids| —| 26rs| –| —| —| —| —| —| —| Advance whitening| —| —| —| 27rs| —| —| 53rs| —| —| Active salt| —-| —| 14rs| —-| —-| 30rs| —-| 54rs| —-| Cibaca| —| —| —| —| —| 18rs| —| 28rs| —| Herbal| —| —| 14rs| —| —| 30rs| —| 55rs| —| Fresh energy gel| —| —-| —-| —–| —| —| 55rs| 60rs| —| 3. Place:- * Place represents the location where a product can be purchased. * The most important part of marketing is how a product will get from the seller to the buyer. * Many products go through a channel of distribution, which involves manufacturers, wholesalers, retailers, and consumers. The distribution strategy proposed for the Precision toothbrush is through dentists, plastic surgeons, drug stores, grocery stores, large retail stores, and department stores. * The product is available in the all India market, including semi-urban & rural markets which are their primary focus. 4. Promotion :- * Product promotion is communication spread through advertising, Publicity and sales promotion. * Promotion represents all of the communication that marketers use in the market. * We suggest that Colgate-Palmolive advertise their products by using commercial, maga zine ads, the radio, ads that are to be placed in dentist ffices, billboards, and the sides of buses. * Advertising is done to promote new products, remind consumers of existing products, and also promote the image of the company at hand. We also suggested that Colgate offer special coupons and rebates through their other products, and also food products. * Also, Colgate could benefit from the usage of in-store displays. * Most of the promotional activities would be T. V. media. * T. V. , FM radio for urban population. * Promotion towards rural population also. BCG MATRIX * The BCG matrix or also called BCG model relates to marketing.The BCG model is a well- known portfolio management tool used in product life cycle theory. * BCG matrix is often used to prioritize which products within company product mix get more funding and attention. * The BCG matrix model is a portfolio planning model developed by Bruce Henderson of the BOSTON CONSULTING GROUP in the early 1970’s. * The B CG model is based on classification of products (and implicitly also company business units) into four categories based on combination of market growth and market share relative to the largest competitor. SWOT ANALYSIS â€Å"SWOT is an acronym for the internal strength and weakness of a firm and the environmental opportunities and threats facing the firm. * SWOT analysis is a widely used technique through which managers create a quick overview of a company’s strategic situation. * The technique is based on the assumptions that an effective strategy derives from a sound â€Å"fit† between a firm’s internal resources (strengths and weakness) and its external situation (opportunities and threats). INTERNAL FACTORS:- (1) STRENGTH:- * Colgate dental cream offers all-round cavity protection, even where a toothbrush cannot reach. Its great mint taste freshens breath. * It protects against root caries. * It cleans ; makes teeth whiter and repairs early decay spots. * E xtremely popular brand and high brand awareness due to advertising. (2) WEAKNESS:- * High dependence of the company on a single category i. e. , oral care. * Reduction in advertisement expenditure in order to maintain growth. EXTERNAL FACTORS (3) OPPORTUNITIES:- * Leverage on fact that Colgate has been ranked as the most trusted brand in India. * Focus on innovations and new product launches by deploying advanced technologies. Growth in emerging markets – rural and semi- urban. (4) THREATS:- * High competition from competitive brands like Pepsodent from HUL. * Increasing commodity prices for manufacturing. STP ANALYSIS (1) SEGMENTATION :- * Colgate’s market segmentation is very broad because all their products are of need to most people so those people share a similar interest in product needs. * Colgate uses a segmentation bases by knowing that certain groups of people need Colgate toothpaste for a specific similar reason like yellow teeth, sensitive teeth or just tee th with cavities. Colgate also uses the family life cycle because they make toothpaste that could be used for grownups and children. * Also, toothbrushes are made to attract young children with cartoon characters and different tastes and are less strong so that it wouldn’t damage their gums. (2) TARGET GROUP:- * MAX FRESH :– Colgate targeted youth with the introduction of this toothpaste, as this helps in refreshes breath. * ACTIVE SALT :- Elder people are targeted in this segment as it makes teeth stronger and provides protection from cavities. COLGATE TOTAL :- Colgate Total contains the anti-microbial ingredient triclosan, which reduces the number of bacteria that cause gingivitis, cavities and halitosis Basically it’s for kids but Mothers are targeted as they are very concerned about their kids. This toothpaste safeguards teeth for 12 hours. * COLGATE SENSITIVE :- People who have sensitive teeth are targeted in this segment who have problem in their gums. * K IDS TOOTHPASTE :- Often small children don’t like to brush teeth, so for them this toothpaste was launched. Colgate had focused on taste aspect to encourage kids to brush teeth. COLGATE WHITENNING – A whitening toothpaste that is â€Å"Clinically-proven to whiten in 14 days†. Its whitening ingredient is hydrogen peroxide, which gradually bleaches the teethFocus is given on group of customers in this segment those who are already suffering from plaque in their teeth. * COLGATE 2in1 :- People who want both strongness and fresh breath are targeted. (3) POSITIONING:- * Colgate dental cream positions itself as toothpaste that has the necessary calcium and minerals to provide decay protection, strong teeth, germ protection and fresher breath. Colgate positioned several toothpaste so that people would like the products more like adding a different style or taste to the toothpaste. * Colgate repositions their products because with the way they market and promote their p roducts, consumers know that these products are way better than other brands and competition that is out there. * Lately with competition from indigenous â€Å"vegetarian† toothpastes, Colgate dental cream has also positioned itself as an â€Å"always 100% vegetarian† toothpaste. The tagline of its advertisements, â€Å"trusted by generations to make teeth stronger†. Colgate total12 have been projected as the â€Å"most advanced toothpaste† that provide 12 hr germ protection even after eating and drinking by building a protective shield around the teeth. * Colgate max fresh positions itself on the basis of â€Å"freshness†. The tagline â€Å"new dimensions brings† home this very point. * Colgate kids toothpaste tries to position itself based on emotions which is apparent in its tagline â€Å"makes fighting cavities fun† RECOMMANDATIONS * Colgate should hire celebrities for the advertisement. They should also increase their CSR activit ies because they have very good image in the market. * Target market should be clearly emphasized in the advertisement. * Colgate should emphasize on digital branding i. e. , online purchase. * Colgate should use colorful paste to create uniqueness. BALANCESHEET | Mar ‘ 12| Mar ‘ 11| Mar ‘ 10| Mar ‘ 09| Mar ‘ 08| Sources of funds| Owner's fund| Equity share capital| 13. 60| 13. 60| 13. 60| 13. 60| 13. 60| Share application money| -| -| -| -| -| Preference share capital| -| -| -| -| -| Reserves & surplus| 421. 79| 370. 45| 312. 51| 202. 0| 148. 61| Loan funds| Secured loans| -| -| -| -| -| Unsecured loans| -| 0. 05| 4. 59| 4. 69| 4. 69| Total| 435. 39| 384. 10| 330. 70| 220. 98| 166. 89| Uses of funds| Fixed assets| Gross block| 522. 50| 579. 83| 534. 52| 425. 26| 449. 59| Less : revaluation reserve| -| -| -| -| -| Less : accumulated depreciation| 268. 08| 324. 79| 287. 57| 251. 33| 258. 19| Net block| 254. 42| 255. 04| 246. 95| 173. 93| 191. 41| Capital work-in-progress| 69. 38| 12. 26| 6. 19| 4. 67| 7. 59| Investments| 47. 12| 38. 74| 21. 00| 38. 33| 72. 59| Net current assets| Current assets, loans & advances| 758. 8| 739. 21| 626. 71| 577. 18| 444. 85| Less : current liabilities & provisions| 694. 21| 661. 15| 570. 15| 573. 13| 549. 54| Total net current assets| 64. 47| 78. 06| 56. 56| 4. 06| -104. 69| Miscellaneous expenses not written| -| -| -| -| -| Total| 435. 39| 384. 10| 330. 70| 220. 98| 166. 89| Notes:| Book value of unquoted investments| -| 38. 74| 21. 00| 33. 01| 56. 39| Market value of quoted investments| -| -| -| 5. 00| 15. 60| Contingent liabilities| 68. 45| 82. 06| 62. 75| 46. 46| 46. 67| Number of equity shares outstanding (Lacs)| 1359. 93| 1359. 93| 1359. 3| 1359. 93| 1359. 93| CONCLUSION * By the Detailed study on the product and market of COLGATE it was able to get a clear picture of the past and present of the products and was able to get in to the assumptions about the future of the product. * The Brand â₠¬Å"COLGATE† has been sold successfully and has created a good demand all the time. * It is also holding a good place in the toothpaste market with a share of around 10% – 15%. * As like for all other products Colgate is also facing a tight competition in the toothpaste Market. Since the competition is too strong the company has to keep on watching market closely for avoiding any sudden collapse for the product. * Finally, it should note that the company may have to face lot of threats in coming years like political threats, legislation threats ongoing economic crisis, changing life style of the people etc. If the company is able to overcome all the threats and can prepare themselves for facing the problems in advance it can achieve a good growth for â€Å"COLGATE†.

Survival of Pi

In the novel Life of Pi, Pi goes through an unexpected journey for 227 days that adjusts his morals and needs to survive. Pi depends on his survival by over looking his morals, having faith, and creating his own version of the situation rather than facing reality. The human mind will go to great lengths to escape itself out of traumatic real life situations. Survival is the state of continuing to live or exist, typically in spite of an accident, ordeal, or difficult circumstances. Pi is faced with a serious situation involving death of loved ones, and the need to survive.The actions humans do to survive seem extraordinary and unimaginable. Pi’s needs to survive alter his life style. To begin with, Pi grew up a vegetarian as well as his brother Ravi, and his mother. The whole journey, Pi was surrounded by food and water but unfortunately the water was salt water so it was undrinkable and Pi could not apprehend any fish nor wanted to eat any. Pi had to depend on fish and turtles to give him some nutrients for survival. Pi believed eating meat was morally wrong. In Pi’s second story, he was surviving on the boat with a young sailor, a cook, and his mother.The cook could no longer sustain his humanity and he turns to cannibalism because he considers it the last option. The whole journey, before Pi was stranded on the lifeboat he was given food, water, love, and all the essentials to survive. On the lifeboat Pi fended for himself and had to change his morals and lifestyle to survive. Once Pi survived his journey and was interviewed by Mr. Chiba and Mr. Okamoto, Pi informs them, with: â€Å"I know my survival is hard to believe. When I think back, I can hardly believe it myself. † (223) Pi was against all odds of his journey to live, and survived.Faith is an important factor of Pi’s survival. Furthermore, faith is a significant factor in Pi’s survival. Pi should have passed away several times but faith kept him remaining on his jour ney. Pi is unsure of what religion he believes in. He is Hinduism, Islam, and Christian. Pi believes all religions lead to the same God. Without faith, Pi would have given up multiple times but Pi knows his life has a meaning. Pi understands out loud, â€Å"Only fear can defeat life. † (161) This quote explains how Pi believes faith can keep you surviving as long as you have faith in yourself.After the ship sank, and Pi remarkably survived he verbally realized, â€Å"Every single thing I value in life has been destroyed. † (108) The trauma Pi is going through is fierce and too much to tolerate. Pi lost all of his family, left his home and friends, and is now gone astray out at sea. He has lost everything and anything close to him. By believing in the three different religions, Pi shows that he is strong with a high spirit, which helps him survive out at sea. Pi had knowledge from three different religious groups, so he always had help and a solution to all of his probl ems.Faith is powerful. Faith gave Pi a reason to keep going and not to give up. Lastly, Pi created a ‘second story’ so he didn’t have to face the reality. People can often prepare a story to convince people and themselves that it actually happened, so they can escape reality and believe in this fantasy. Pi created Richard Parker so he didn’t feel alone; Richard Parker was a figment of Pi’s imagination. Richard Parker is the will inside Pi for survival. Richard Parker was Pi’s fighting source. Richard Parker killed the hyena after the hyena killed the zebra and orangutan in the second story.Richard Parker only comes out of hiding when Pi becomes angry after seeing his Mother (orangutan) and young sailor (zebra) be killed by the Chef (hyena), I think when Richard Parker comes out of hiding that demonstrates Pi’s fighting source coming out of his personality. Throughout the book, aspects of Richard Parker come out in Pi. For example, Pi s tarts eating meat even though it is against his morals and beliefs, his personality becomes strong like a tiger because he becomes in charge and doesn’t let Richard Parker take control.Pi created the second story and Richard Parker so he could escape reality. Pi would not have been able to survive without Richard Parker. Richard Parker killed the chef for Pi. Without each other, Pi and Richard Parker would have died. In retrospect, Pi survived under adverse and unusual circumstances. Pi would have not survived without overlooking his morals, having faith, and creating his own version of the daunting situation. The actions humans do to survive seem extraordinary and unimaginable. Pi’s needs to survive alter his life style.