FacBook IPO Essay Example | Topics and Well Written Essays - 1250 words

FacBook IPO - Essay Example The main task of this paper was to calculate the so-called fair price of the company’s shares in the moment of IPO. Two different approaches are going to be used to reach the goal of the task – DCF and comparative valuation. Taking into account this goal, the paper has the following structure: introduction (brief background information about the company), theoretical concepts and methodology, financial analysis, conclusions. As it has been already mentioned, Facebook Inc. is one of the most successful companies in the modern business world. It is among the leaders not only in the IT industry, but in the global business environment, in general. The company was founded in 2004 as a website for the local Harvard community. The company has become successful quite soon. Nowadays it employs almost 2000 employees, has offices in the different countries around the whole world, and has almost 1 billion of users. Its current market capitalization is $56.8 billion. Some additional information about the company under consideration can be got from the following quote. â€Å"Facebook, Inc. operates as a social networking company worldwide. The company builds tools that enable users to connect, share, discover, and communicate with each other; enables developers to build social applications on Facebook or to integrate their Websites with Facebook; and offers products that enable advertisers and marketers to engage with its users. As of February 2, 2012, it had 845 million monthly users and 443 million daily users. The company was founded in 2004 and is headquartered in Menlo Park, California† (Facebook Inc. Company Profile). Probably the biggest question is what the factors of the company’s success are. The company has provided for people around the world an opportunity to communicate without any barriers. We believe that it is the main driver of the company’s success. Communication is among the greatest need of people and Facebook provides such

Gray :: essays research papers

Gray's "The Epitaph": An Analysis In the Epitaph, Thomas Gray shows his discontent toward the way that life and death are categorized on this planet. He speaks of earth as a place which holds people for the time being that they are going through this grand cycle of what is called life. When somebody only "rests his head upon the lap of Earth" it is not a way of approving the way that people are laid down for their final resting. The Epitaph shows , properly titled, the lot about how people are being brought up and brought down in a dark sort of way. Someone's personal epitaph is just a place where their head rests and Even "Fair Science frowned" on the aspects of the person's life and now the incapacity that they have toward this world. Their one and only sole purpose in this world is to waste space in the earth and rot away for eternity. Gray's style is very intriguing. He speaks of god and how there are certain things around that are only now known as "frailties" of what used to be life. Gray speaks out against the way this person was treated in society which is symbolic of how people are being treated as a whole and the hollowness and shallowness of people in the world. Now the person is dead, there is no other help that you could give him. "Large was his bounty, and his soul sincere" was how the man lived, and although his soul was a true one, he was still a marked man, and now he is only marked with a stone that protrudes from the ground known as The Epitaph. God is a part of life which gray dispises. He goes against the idea of a belief in one immortal being who rules over people and casts judgments and leaves some people for broke. "The bosom of his father and his god" were those that were unhelpful in the dead man's life, because he ended up just as everyone else will, dead, it is just that he was not blessed with as much life.

Human Resource Managers in a Multinational Company Essay

1. ‘To what extent are human resource managers in a multinational company restricted by cultural and institutional factors in implementing policies and practices across their subsidiaries? Discuss your answer giving examples.’ In the face of globalization, organisations struggle to develop the human resource management strategy (HRMS) between global integration and local differentiation. This is regarded as a critical concern for multinational enterprises (MNEs) since they suffer from cultural and institutional differences to integrate HRM practices and shape HRM activities to operate abroad. Regarding that, each cultural and institutional factors are developed over its history with unique insight into managing the organisation, the appropriate HRM practice would vary. The differentiation in national culture and institution call the different management practices that need to be concerned significantly especially for multinational companies’ managers. Researchers highlight the congruence between these factors and HR practice for higher organsational performance. When the HRM practice fits with the basic value shared by employees, the job satisfaction, employee motivation and commitment will be attained. This comes with the implication that cultural and institutional factors are pivotal in shaping the decisions and policies of managers of organisations. In this essay, it will explain what is the institutional and cultural factor with theoretical approach. After that it will suggest implications of institutional and cultural perspective for International Human Resource Management to answer how these factors influence in implementing management policies and practices. According to Hofstede (1991), Culture refers to the â€Å"shared sets of beliefs, values and norms† that is programmed into an actor’s mind. It is regarded as the psychological ‘software’ and sets of informal rule, while institution is more ‘hardware’ of modified and negotiated legal systems that actors follow. The institutionalism emphasises the legitimacy, which organsations struggle to acquiring and maintaining in relation to the environment. One of the new institutionalist theories, the ‘Variety of capitalism’, treats the corporation as a relationships network that locates organisation in its  stakeholders with employees and with competitors. The approach highlights the importance of institutional complementarities that argue the success of an organisation depending on the capability to coordinate effectively. The theory draws two types of political and economic structures across nations. One is the liberal market economic orientation (LME) and the other is the coordinated market economic orientation (CME). Companies in some North-Western European countries including Germany and Switzerland with CMEs tend to have highly structured arrangements in labour market that form strong trade union. Banks in these countries are highly coordinated with firms and have long-term capital. In contrast, there are loose hire and fire labour market regulations and dispersed international investors in the U.K and U.S.A where classified as LMEs. The source of finance in these countries is the stock market, with the clear difference. The figure1 demonstrates that corporations in these different types of systems do not operate in the same market. Figure 1. Institutions across sub-spheres of the political economy Source: Hall and Soskice, (2001) It shows the positions of OCED countries that describe institutional character in the financial and labour market. The higher development in a stock market implies higher dependency on market coordination with emphasis on financial criteria, whereas a higher degree of protection for employees is likely to rely more on non-market criteria. The flexible labour market in LMEs is suitable to easy access to stock market capital. Due to the competitive market conditions, firms in LME markets highly emphasise the financial performance rather than long-term strategies. Nervous investors such as those from the hedge fund tend to hesitate to investing in companies with long-term and uncertain employee training that ties capital in workers’ skills. Conversely, long-term employment arrangement and long-term capital remain in the essence of CMEs. The institutional considerations lead to different types of organisational behavior and investment patterns that shape different HRM policies and practices. Firms in LMEs emphasise short-term competition that likely treat  employees as disposable resources. Employees’ performances are appraised individually with a financial incentive system so managers are empowered to control HRM with considerable autonomy. Investments in employee training and development are classified as ‘overhead.’ `In contrast, HRM polices in CMEs regard employees as valuable assets for sustaining a competitive advantage thus tend to make a greater effort in investments in product innovation and employee development encouraging employment stability. In the system, the higher degrees of job security and work force commitment are derived, since its employment regulation and laws are protected from strong trade union and government. Moreover, different business systems across nations also significantly impact HRM issues. The issues including working hours, scheme of performance appraisal and job contract are highly influenced by local institutional arrangement. The MNCs in Japan prioritize work organisation, which contains quality oriented and flexible practice, and their HR practices are adopted to be suitable with this approach. Likewise, German MNCs, where short run financial ratio is not a greater concern, rely more on long term strategies that highly regulate the hours of work and worker participation. In this regard, the ability of MNCs to fit various institutional arrangements with the local environment is essential to have an advantage in global operations. The evidence from the survey conducted by Guest and Hoque (1996) show that MNCs in Germany do not implement their ‘best practices’ into subsidiaries in the U.K. such as long-term employment plans, union perception and employee training. Another crucial factor managers from MNCs should consider for effective HRM is culture. It is assumed as ‘the major source of differentiation’ in managerial behavior among different nations. One of the most widely cited approaches to culture, Hofstede’s study (1980), classifies four cultural dimensions based on the survey data from 116,000 IBM employees. The study suggests possible origin and consequence for managerial behavior in different dimension contexts. Power distance reflects the dependent relationship between superior and subordinate. Companies in high power distance subordinate have high dependence to superior with greater reverence through the hierarchical structure. Uncertainty avoidance measures different degrees of preparation for future risk and ambiguity. In risk adverse  organisations, rule making and bureaucracy are placed to deal with possibilities of risk and members prefer to behave what they are expected. Individualism versus collectivism dimension reveals the different level of desire to feeling that they belong with a group. At last, masculinity versus femininity dimension presents different values that masculine and feminine society prefer differently. Highly masculine societies have a higher tendency to be competitive since high earning and challenging careers are important values for employees. In societies with femininity tendencies, values related to satisfaction, security and cooperation are emphasised. The study highlights the importance of culture to coordinate different managerial behavior for international businesses. Another cross-cultural approach, Hall’s study (1976) classifies cultures into low and high context cultures, each with distinct demands and preferences. The culture characterizes the nature of human relationship, communication and authority. For example, the line of distinction between high and low context cultural communication has been particularly documented. According to Hall and Hall (1990), in high context communication, speakers tend to utilize relative indirect style of communication. On the other hand, in low context communication, speakers often employ more or less direct communication style. Clearly, these communication dimensions area is an overlap of the individualism-collectivism from Hofstede’s study. Collectivist societies often concern about minimizing the chances of hurting other parties. These groups emphasise the value conformity and traditions. It is for this reason that they prefer to use high context communication. The team members of collectivists often prefer communicating directly with their leaders. They are often concerned about avoiding responses that are negative, a move that is aimed at maintaining harmony. Any form of communication is aimed at fostering interpersonal communication. The tendency is reversed in individualist societies where each member pays more attention to personal goals and interests. The different communication styles and human relationships naturally relate to the different preferences of organisational structure that shape the HRM practices and policies. The culture influences multiple aspects of HRM, thus it is likely to be  effective when HR practice and policy fit with the culture. In regard to recruitment, collectivistic cultures prefer network based recruitment method like employee referrals. The method is supposed to enhance employee commitment and loyalty that strengthens the social network. Since collectivism highlights cooperation rather than individual achievement, it more considers candidates’ ascribed statuses more than personal skills and knowledge. Conversely, employers in an individualistic organisation select candidates based on necessary abilities through highly structured methods such as bureaucratic interviews. Similarly, the organisation with high uncertainty avoidance index prefers open recruitment with the use of more structured selection method as it is highly correlated with formalisation. In terms of performance appraisal, individualised appraisal and rewards are highly correlated with individualism and lower degree of uncertainty avoidance. Regarding that various reward practices based on individual performance would result in uncertainty it is less likely to emerge in risk adverse society. The incentive scheme may also not be needed in high power distance cultures since subordinates are more likely to be motivated by superiors’ direction. The merit-based selection and promotion, which consider individual performance and contribution to the organisation is related to individualism and low level of power distance. It is opposed to the value from collectivism and femininity that emphasise group harmony and cooperation. In conclusion, institution and culture significantly influence in managerial behavior. It is needed to take institutional and cultural factors into consideration in shaping and adopting management policies and practices. Cultural and institutional factors are so varied that they integrate all the factors oriented towards social and ethical responsibilities, which is a major focus for contemporary organisations. Cultural values demands that decision and policies that managers make reflect the interests of the society, including those of the institutions. Since the inappropriate management concept may trigger misunderstanding and conflict among subsidiaries it is vital for effective management. Clearly, Institutional and cultural researches contribute to analysing and understanding various manifestations of HR across a border. However, managers should take careful  consideration before implementing specific HR practices or policies to prevent overly deterministic connection from the theoretical context. In order to achieve successful performance, MNCs have to adjust and moderate management practice in accordance with the local environment. The differences in a business system, local environment and culture between home and host countries are the significant determinants for both evolutions. References: [1] Aycan, Z. (2005), ‘The interplay between cultural and institutional/structural contingencies in human resource management practices’, International Journal of Human Resource Management, 16(7), pp. 1083-1119. [2] Earley, P.C. (1994), ‘Self or group? Cultural effects of training on self-efficacy and Performance’, Administrative Science Quarterly, 39(1), pp. 89-117. [3] Gomez-Mejia, L.Y & Welbourne, T. (1991), ‘Compensation strategies in a global context’, Human Resource Planning, 14. pp. 29-42 [4] Guest. D. & Hoque, K. (1996) ‘National Ownership and HR Practices in UK Greenfield Sites’, Human Resource Management Journal, 6(4), pp. 50-74. [5] Hall, E.T. (1976), Beyond culture, New York: Anchor Books [6] Hall, E.T. & Hall, M.R. (1990) ‘Understanding Cultural Differences’, Yarmouth, MA: Intercultural Press. [7] Hall, P.A. & Soskice, D. (2001) ‘An introduction to varieties of capitalism’ in Varieties of Capitalism: The Institutional Foundations of Comparative Advantage, Oxford: Oxford University Press [8] Hofstede, G. (1980), Culture’s Consequences: International Differences in Work-related Values, California: Sage Publications [9] Hofstede, G. (1991), Cultures and Organizations: Software of the Mind, Berkshire: McGraw-Hill [10] Tsui, A.S., Nifadkar, S.S. & Ou, A.Y. (2007) ‘Cross-national, cross-cultural organizational behaviour research: Advances, gaps and recommendations’, Journal of Management, 33 (3), pp. 426–478. ——————————————– [ 1 ]. Earley, P.C. (1994), ‘Self or group? Cultural effects of training on self-efficacy and Performance’, Administrative Science Quarterly, 39(1), 89-117 [ 2 ]. Hall, P.A. & Soskice, D. (2001) ‘An introduction to varieties of capitalism’ in Varieties of Capitalism: The Institutional Foundations of Comparative Advantage, Oxford: Oxford University Press, Page 1. [ 3 ]. Hall, P.A. & Soskice, D. (2001) ‘An introduction to varieties of capitalism’ in Varieties of Capitalism: The Institutional Foundations of Comparative Advantage, Oxford: Oxford University Press, Page 4. [ 4 ]. Tsui, A.S., Nifadkar, S.S. & Ou, A.Y. (2007) ‘Cross-national, cross-cultural organizational behavior research: Advances, gaps and recommendations’, Journal of Management, 33 (3), pp. 426–478. [ 5 ]. Aycan, Z. (2005), ‘The interplay between cultural and institutional/structural contingencies in human resource management practices’, Internationa l Journal of Human Resource Management, 16(7), pp. 1083-1119. [ 6 ]. Gomez-Mejia, L.Y & Welbourne, T. (1991), ‘Compensation strategies in a global context’, Human Resource Planning, 14. pp. 29-42

Psy 496 Entire Course Applied Project - 1345 Words

PSY 496 Entire Course Applied Project Purchase here http://chosecourses.com/psy-496-entire-course-applied-project Product Description PSY 496 Week 1 Assignment Case Study Evaluating Ashford University Institutional and Program Outcomes.docx PSY 496 Week 1 DQ 1 Topic for Literature Review PSY 496 Week 2 Assignment Methodological Issues Article Review.docx PSY 496 Week 2 DQ 1 Analyzing Basic Applied Research.docx PSY 496 Week 2 DQ 2 Controversies Associated With Changing Diagnostic Criteria.docx PSY 496 Week 3 Assignment Develop Professional RÐ’sumÐ’s.docx PSY 496 Week 3 DQ 1 Presentation by Experts.pptx PSY 496 Week 3 DQ 2 Mental Health Disciplines.docx PSY 496 Week 4 Assignment Careers in Psychology.docx PSY 496 Week 4 DQ†¦show more content†¦PSY 496 Entire Course Applied Project Purchase here http://chosecourses.com/psy-496-entire-course-applied-project Product Description PSY 496 Week 1 Assignment Case Study Evaluating Ashford University Institutional and Program Outcomes.docx PSY 496 Week 1 DQ 1 Topic for Literature Review PSY 496 Week 2 Assignment Methodological Issues Article Review.docx PSY 496 Week 2 DQ 1 Analyzing Basic Applied Research.docx PSY 496 Week 2 DQ 2 Controversies Associated With Changing Diagnostic Criteria.docx PSY 496 Week 3 Assignment Develop Professional RÐ’sumÐ’s.docx PSY 496 Week 3 DQ 1 Presentation by Experts.pptx PSY 496 Week 3 DQ 2 Mental Health Disciplines.docx PSY 496 Week 4 Assignment Careers in Psychology.docx PSY 496 Week 4 DQ 1 Subfields of Psychology.docx PSY 496 Week 4 DQ 2 Personal Statements in Applications.docx PSY 496 Week 5 DQ 1 Multicultural Competency and Inclusive Excellence.docx PSY 496 Week 5 DQ 2Show MoreRelatedHuman Resources Management150900 Words   |  604 PagesWhat is occurring in some organizations is that HR activities are being aligned more with the specific business needs of individual operating entities and subsidiaries. The result is the shrinking of the staff in a centralized HR department for an entire organization. For instance, a financial services company has six different subsidiaries. Each subsidiary has its own HR director and HR staff; and compensation, training, and employment are all handled by the HR professionals in each of the strategicRead MoreMedicare Policy Analysis447966 Words   |  1792 Pagesindividual de21 scribed in this subsection is an individual— (1) who, during the 6-month period ending on 23 rmajette on DSK29S0YB1PROD with BILLS 22 the date the individual applies for high-risk pool cov- 24 erage under this section applied for individual health 25 insurance coverage and— †¢HR 3962 IH VerDate Nov 24 2008 12:56 Oct 30, 2009 Jkt 089200 PO 00000 Frm 00018 Fmt 6652 Sfmt 6201 E:\BILLS\H3962.IH H3962 19 1 (A) was denied such coverage