Recommendation of Coca Cola based on performing various valuation models - Free Essay Example

Sample details Pages: 16 Words: 4938 Downloads: 5 Date added: 2017/06/26 Category Business Essay Type Analytical essay Did you like this example? The recommendation of Coca-Cola Company is based on performing various valuation models, which include HR practices, economic profit analysis, relative valuation and a fundamental price to earnings valuation model that revealed the Coca-Cola Company to be overvalued. Even though they find the stock to be overvalued and they feel that KO has some promising outlooks as well as possible challenges in the near future and they want to recommend it as a hold instead of a sell. The Coca-Cola Company is the #1 company within the non-alcoholic beverages industry. Don’t waste time! Our writers will create an original "Recommendation of Coca Cola based on performing various valuation models" essay for you Create order They have a 20- year standing of being the leader and investors know that the Coca-Cola Company has an extraordinary reputation for maximizing shareholder value. Opportunities that exist for the company in the future is expanding market share in the non-carbonated beverages segment, a restructuring of their business model, and better consistency of earnings results. A challenge that the Coca-Cola Company is facing is the struggle with their global competitors in the fact that their HR practices are greater and less than coke. If coke wants to more reputation in the world they must produce more incentives for employees from which they more done work hard and produce good quality. Their new management team needs to work on implementing cohesive goals between the two to reach the Coca-Cola Companys long-term growth potential. TABLE OF CONTENTS 1 INTRODUCTION Mission and vision 5 History 7 4 Brands/product line 14 5 Total quality management 16 6 Environment of coca cola 16 7 Health and Nutrition 18 8 Management of coca cola in Gujranwala 19 9 Departmentalization 27 10 Human Resource Management 29 11 Job analysis and designs 30 12 Planning and forecast 30 13 Recruitment and selection 31 14 Training process 32 15 Performance and appraisal 33 16 Compensation and benefits 34 17 Employees relationship 35 18 Safety policy 36 19 Recommendation and Suggestion 37 INTRODUCTION Founded in 1886, the coca-cola company is the worlds leading manufacturer, marketer, and distributor of nonalcoholic beverage concentrates and syrups. The companys corporate headquarters are in Atlanta, with local operations in over 200 countries around the world. Although Coca-Cola was first created in the United States, it quickly became popular wherever it went. Our first international bottling plants opened in 1906 in Canada, Cuba and Panama, soon fol lowed by many more. Today, we produce more than 300 brands. More than 70 percent of our income comes from outside the U.S., but the real reason we are a truly global company is that our products meet the varied taste preferences of consumers everywhere. MISSION STATEMENT To benefit and refresh everyone it touches and to create values for our share owner on a long term basis by building a business that enhances the coco-cola company trade marks According to Gujranwala plant: To have a strong, dominant profitable business in Pakistan. VISION All of us in the Coca-Cola family wake up each morning knowing that every single one of the worlds 5.6 billion people will get thirsty that day and that we are the ones with the best opportunity to refresh them. Our task is simple: make Coca-Cola and our other products available, affordable, and acceptable to them, quenching their thirst and providing them a perfect moment of relaxation. If we do this if we make it impossibl e for these 5.6 billion people to escape Coca-Cola then we assure our future success for many years to come. Doing anything else is not an option. According to Gujranwala Plant: To create value for our share holders We are committed to: ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ Building preference market leadership for our brands ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ Achieve quality excellence and serve our customers with quality products. ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ Maximizing profits ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ Developing People ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ Optimum utilization of assets Shared Values: ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ WE VALUE RESPECT OUR PEOPLE ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ WE COMMUNICATE OPENLY ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ WE HAVE INTEGRITY ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ WE ARE COMMITTED TO WINNING Beliefs: There is much in our world to celebrate, refresh, strengthen and protect. The Coca-Cola Company is a vibrant network of people, in nearly 200 countries, putting citizenship into action. Through our actions as local citizens, we strive every day to refresh the marketplace, enrich the workplace, protect the environment and strengthen our communities. We are a local employer, with responsibility to enable our people to tap into their full potential; working at their innovative best and representing the diversity of the world we serve. We are an investor in local economies and a driver of marketplace innovation, with a responsibility to act as a good steward of our natural environment. A local citizen, understanding our responsibility to contribute to an improved quality of life in our communities BRANDS / PRODUCT LINE In 2002, Coca-Cola added pop to a category that many believed had lost its fizz in Nor th America. In May, after just six months in development, Vanilla Coke became the first extension of the Coca- Cola brand since 1985 and immediately generated profitable volume. Vanilla Coke helped boost sales of Coca-Cola branded beverages while inviting new consumers to rediscover the cola category through a completely original flavor experience. In product formulation, the Vanilla Coke team struck a balance that lets the taste of Coca-Cola come through-intriguingly new, yet undeniably Coca-Cola. Already one of our top 10 brands in the United States, Vanilla Coke is performing well in its initial international markets-including Australia and New Zealand, with more countries planning launches for 2003. In response to consumer demand, diet Vanilla Coke was introduced to the U.S. marketplace in October, just three-and-a-half months after it was given the green light. In 2002, we also celebrated the 20th anniversary of diet Coke and the expansion of diet Coke with lemon, which made st rong debuts in several international markets after its U.S. launch in 2001. In March 1923, Coca-Cola was sold in a 6-bottle carton for the first time in New Orleans, Louisiana. Today, products of The Coca-Cola Company are consumed at the rate of more than one billion drinks per day. Major Brands: There are 323 brands of coca-cola. Out of which there are 7 brands of coke in Pakistan. Two brands Lemon and Strawberry are recently introduced products of Coca-cola in Pakistan. TOTAL QUALITY MANAGEMENT (TQM) Passion for Quality: Our reputation is built on trust. Through good citizenship we will nurture our relationships and continue to build that trust. That is the essence of our promise The Coca-Cola Company exists to benefit and refresh everyone it touches. Wherever Coca-Cola does business, we strive to be trusted partners and good citizens. We are committed to managing our business around the world with a consistent set of val ues that represent the highest standards of integrity and excellence. We share these values with our bottlers, making our system stronger. These core values are essential to our long-term business success and will be reflected in all of our relationships and actions in the marketplace, the workplace, the environment and the community. Marketplace: We will adhere to the highest ethical standards, knowing that the quality of our products, the integrity of our brands and the dedication of our people build trust and strengthen relationships. We will serve the people who enjoy our brands through innovation, superb customer service, and respect for the unique customs and cultures in the communities where we do business. Workplace: We will treat each other with dignity, fairness and respect. We will foster an inclusive environment that encourages all employees to develop and perform to their fullest potential, consistent with a commitment to human rights in our workplace. The Coca-Cola workplace will be a place where everyones ideas and contributions are valued, and where responsibility and accountability are encouraged and rewarded. Environment: We will conduct our business in ways that protect and preserve the environment. We will integrate principles of environmental stewardship and sustainable development into our business decisions and processes. COMMUNITY: We will contribute our time, expertise and resources to help develop sustainable communities in partnership with local leaders. We will seek to improve the quality of life through locally relevant initiatives wherever we do business. Responsible corporate citizenship is at the heart of The Coca-Cola Promise. We believe that what is best for our employees, for the community and for the environment is also best for our business ENVIRONMENT OF COCA-COLA In the first decade of the new century, we face the challenge of a new environment, which is driven by a fundamental shi ft in international economic dynamics, the growing influence of technology and the fact that people increasingly expect more of large corporations. That challenge demands innovation. While we will always be disciplined by our purpose and our ideals, we must intensify our focus on innovation and create new ways to deliver the promise of Coca-Cola. In fact, in an era that is increasingly international and interconnected, we must pioneer a movement from a homogenous global approach to a highly tailored approach reflecting the unique character of our markets. This new approach will require: 1) Being innovative in our marketing, our brands and our consumer relationships 2) Collaborating more productively with our business partners 3) Changing some of the structures of our enterprise 4) Increasing our commitment to community and the environment Thus, we will reinvigorate our enterprise and bring to full life the unique spirit of Coca-Cola and our people. Such real ren aissance of the Coca-Cola spirit will enable us to fulfill our purpose of delivering refreshment and benefit to everyone touched by our business. The Coca-Cola Company and our bottlers have been at the forefront in helping solve environmental, litter and solid waste issues for more than 20 years. We realize that we touch the lives of billions of people around the world and that our responsibility to them includes conducting our business in ways that help preserve the environment. Soft-drink packaging is the most recycled consumer package in the United States. Our system supports dozens of litter prevention organizations, including the Center for Marine Conservation and Keep America Beautiful. The Coca-Cola Company is a founding member of Keep America Beautiful. Whats more, weve been recycling at our headquarters for years, to the tune of thousands of pounds of waste annually. Weve donated more than $100,000 in proceeds from these recycling efforts to charities. Shaping new Products experiences with packaging and technology: As we created new products and fresh brand experiences in 2002, one fact became increasingly clear to us: Consumers are eager to see The Coca-Cola Company bring excitement to the marketplace. One simple innovation last year-the Fridge PackÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¾Ãƒâ€šÃ‚ ¢ -has changed the dimensions of 12-pack sales for us and for our bottling partners. This sleek, refrigerator-friendly pack is increasing consumer awareness and preference, accelerating consumption and case volume in markets where it has been introduced. From our packaging suppliers who assisted us and our bottlers in developing the Fridge Pack, to the retailers whose shelves were reconfigured to accept the new design, partnership made this innovation possible- and profitable. The future of our business in North America also evolved in 2002 with the continuing rollout of iFountain, the most advanced soft-drink dispensing system in the industry. iFountain gives our c ustomers a technologically advanced fountain system that enhances available brand options, improves operating efficiency and automatically calibrates each drink served to assure consumers of a quality drink every time HR coca cola HEALTH AND NUTRITION GIFT Business School 18 Today, people are more concerned than ever about health and nutrition. They understand the importance of good nutrition and proper hydration and they also know that delicious foods and beverages are an enjoyable part of life. People have trusted and enjoyed soft drinks for more than 115 years, and they can continue to be confident about their favorite beverages. In this section, we answer many of the questions you may have about our family of beverages., We also take a look at how The Coca-Cola Company promotes a healthy active lifestyle through programs around the world that promote fun and physical activity. There is growing confusion about what constitutes a healthy diet. With so much co nflicting information available about health and nutrition, it can be very difficult to determine what is accurate and what is not. The truth is that soft drinks and other beverages have a place in a healthy lifestyle. A healthy diet incorporates the basic principles of variety, balance and moderation without sacrificing enjoyment. Your Health Our Beverages: There is growing confusion about what constitutes a healthy diet. With so much conflicting information available about health and nutrition, it can be very difficult to determine what is accurate and what is not. The truth is that soft drinks and other beverages have a place in a healthy lifestyle. A healthy diet incorporates the basic principles of variety, balance and moderation without sacrificing enjoyment. Climate Change: The Coca-Cola Company takes the issue of global climate change very seriously. We have adopted a comprehensive policy aimed at reducing the environmental impact of our cooling equipm ent over time. By the 2004 Olympic Games in Athens, we will no longer purchase new cold-drink equipment using hydrofluorocarbons (HFCs), wherever cost-efficient alternatives are commercially available. Additionally, we will reduce the energy use of our individual equipment by 40-50 percent over the next ten years. As we developed our cooling equipment policy, we referred to the basic tenets of the Kyoto Protocol. While we support the scientific analysis and general objectives of the agreement, we believe that ratification of international treaties and protocols should be left to national political processes. By focusing on our own efforts to reduce greenhouse emissions, we hope to provide an example of how businesses can operate in an environmentally sustainable manner. MANAGEMENT OF COCA-COLA Following are the information about the management of Gujranwala plant. The factory is control by the BOM (Business operational manager) and under him eight Departments is wo rking. Every Department is lad by a department Manager. The Departments of account is lead by the manager account and under him assist manager works. Who control the other employees of the department under him? Department of production and engineering is lead by the Prod. Eng. Manager. Under him work Mechanical Engineers Mechanical Supervisor and Assistant Production. Quality control department lead by the manager quality control. Under him working the chief chemist whos responsibility is to give the quality product to the customer. Sale marketing department is playing the important part in the growing market share in the country. That department led by the Sale marketing manager that department is further divided in the sale and marketing section. The marketing department is lead by the marketing manager and the sale section by sale manager. Sale men work under the sale manager Fleet department control thetransport vehicle of the company the head of the department is Fleet manag er and under him work the assistant fleet manager who manages the control over the transportation of the company. The distribution of the coca-cola around the Gujranwala region is the responsibility of distribution department, which is lead by the distribution Manager. Assistant distribution manager work under Him to full fill their duties. Human recourse and international affair department take control over the external environment of the company and help the in the growth of the company. That Department is lead by the Manager H.R.I.R. other executive work under his supervision. The R D Department plays the most important role in the development and the growth of the company. This Department is lead by the Manager RD. and Assistant Manger work under him. The total number of employees in the coca-cola Gujranwala Company is 236. To be specific the working environment in the company represents the companys culture in large. The culture is the shared values among the dif ferent people so the environment of the company is widely shared by its employees that conclude to form the companys culture. In the coming lines the working environment of the Gujranwala Coca-cola factory is described. Company culture:- The factors, which must be highlighted in this regard, are as follows: ÃÆ' ®Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ special training is given to employees, New employees also are placed with old ones to learn work and the values prevalent in the company, ÃÆ' ®Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ Two cups tea are free for every employee daily this represents the hospitable nature of the company, This factor keeps the employees motivated as they are taken well care this fact is clear by the physical actions took by the company, ÃÆ' ®Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ The company working environment is really a good blend of Asian and western values. Motivations for employees: Wages:- Coca-cola is providing smart wages to its employees, which are competitive and really satisfy its employees. As along with the wages they are provided with a lot of facilities and amenities. In brief structure of wages can be described like this blue collar workers are offered wages along with commission, sales man are offered wages plus commission pursuing certain criteria, White collar workers who are the officers and the executives draw a handsome amount of salary which is really competitive. Staffing and training: The Coca-Cola Company has always believed that education is a powerful force in improving the quality of life and creating opportunity for people and their families around the world. The Coca-Cola Company is committed to helping people make their dreams come true. All over the world, we are involved in innovative programs that give hard-working, knowledge-hungry students books, supplies, places to study and scholarships. From youth in Brazil to first generation scholars, educational programs in local communities are our priority. Annual Leaves:- Coca-cola international has different leaves structures in different regions and countries of the world where they have their company. Their leaves structure regarding Pakistan especially in Gujranwala Division Company is as follows: Designation Allowed leaves Supervisor 26 leaves per annum Above then Supervisor 26 leaves per annum Below supervisor 24 leaves per annum The above table shows simply how the leaves structure allows for the leaves and how well the employees are awarded with facility of getting their own personal time to manage their own problems. These leaves are authorized for the employees and these include the with pay leaves. This facility is really great which keeps the employees motivated and thrilled abo ut their work. Time Management For Work:- Time management is the key to grow in this fast and furious century of growth and development, so therefore Coca-cola is doing at their best for this pivotal factor of managing time. To cover this segment of management they have divided the work in to shifts. For this purpose phenomenon of division of labor is contributing for its functioning. In Gujranwala Coca-Cola company has divided the shifts for the work in the following manner: They are managing the working time in two shifts. They can include some extra shift if there is demand but normally there are two shifts, which are explained in the following. 8 a.m. to 4 p.m. (all departments other then technical departments), ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ 4 p.m. to 12 p.m. (Technical department). These are the shifts in which the work in the factory is mostly conducted. Medical Facilities:- Medical facilities are of prime importance in any organization as the health of employees is in the benefit of the company as well as its the social responsibility of the company to provide nice and healthy work environment to its employees, These facilities are such facilities which can include first aid treatments, emergency handling problems, sickness, and other diseases which are fatal for a person. The Coca-Cola Company is providing Medical facilities to all its employees. These treatments are provided to employees as per their designations. The medical facilities are also provided to supervisors as well as the officers in the company. Employees our Asset: The heart and soul of our enterprise have always been our people. Over the past century, Coca-Cola people have led our successes by living and working with a consistent set of values. While the world and our business will continue to change rapidly, respecting these values will continue to be essential to our long-term success. As we have expanded over the decades, our company has benefited from the various cultural insights and perspectives of the societies in which we do business. Much of our future success will depend on our ability to develop a worldwide team that is rich in its diversity of thinking, perspectives, backgrounds and culture. We are determined to have a diverse culture, from top to bottom that benefit from the perspectives of each individual. Employee Forums: We believe that a sense of community enhances our ability to attract, retain, and develop diverse talent and ideas as a source of competitive business advantage. In the U.S., through employee forums, employees can connect with colleagues who share similar interests and backgrounds. In those forums and elsewhere, employees support each others per sonal and professional growth and enhance their individual and collective ability to contribute to the company. Forums that are currently active include: ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ Administrative Professionals ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ African-American ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ Asian/Pacific-American ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ Gay Lesbian ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ Latin ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ Women Mentoring Programs: The Coca-Cola Company is creating a system of mentoring programs that include, one-on-one mentoring, group mentoring and mentoring self-study tools. Currently, Coca-Cola North America and The Minute Maid Company have one-on-one mentoring programs designed to foster professional growth and development. These HR coca cola GIFT Business School 26 Every year, the world produces billions of tons of waste. Recycling and reusing waste materials is absolutely crucial if we are to maintain the health and beauty of the earth. The Coca-Cola ® Company is working constantly toward coming up with smart, creative ways to reuse waste. Heres a glance at what were doing. To introduce innovative and environmentally friendly packaging, we Opened a breakthrough facility in Sydney, Australia for the worlds first PET bottles to be produced from recycled PET bottles. Today, one in four PET containers sold by our company in North America contains re cycled content. Our Commitment To Diversity: Our commitment to diversity also extends into the community. Valuing our people helps us better meet the needs of our customers and partners. Through our people and our local bottling partners, we build relationships through local marketing, local civic programs and local business opportunities. Realizing the full potential of diversity has a direct impact on our company: ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ It improves our understanding of local markets; ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ It makes us a better employer and business partner; ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ It helps us compete more effectively; ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ It makes us better neighbors in our communities; and ultimately, ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ It builds value for our shareowners. Our company is energized with a new entrepreneurial operating culture, fueled by the twin engines of innovation and diversity. DEPARTMENTALIZATION: Following are the departments in Coca-cola company regarding to Gujranwala plant:- ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢Human Resource and international relation department. ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢Research and Development department. ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢Account department. ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢Engineering department. ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢Production department. ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢Quality Control department. ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢Marketing department. ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢Sale department. ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢Fleet department. ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢Distribution department. Human Resource Management within Coca Cola Human Resource Management is an essential part for any organization. Moreover, development of this department is the first step, the ground on which the future of the company depends. It is essential for every single business unit and especially for such international company as Coca Cola. It is people, not technology who create the company. Human Resource Management at Coca Cola Company has many advantages. It is the global company and it is impossible to create certain policies or procedures applicable in all divisions of the company, cultural and political differences need to be taken into account. Therefore, the focus of this paper will be on four tasks and duties of Human Resource Management (performance management, compensation, career development, succession planning) based on the United States procedures. Basically the HRM practices are necessary for every organization. But unfortunately in Pakistan not so much used HRM practices. In multinational companies like coca cola have their own separate department of HRM. According senior executive of HR Waqar Mahmood our HR department consist of 29 people in Gujranwala plant. Every organization has its own policies and strategies by which they control the functions of their departments. Similarly, we also have own policies and strategies by which we control all the functions of our departments. coca cola HR department is also conducting all the practices of HRM like Job analysis and design of work ,r e c r u i t m e n t and selection, training and development, performance appraisals, compensation, employee relationships, staff welfare and medical policies and some other things like that. These all practices are conducted by own policies and strategies. HR department not make decisions related of its own department, they also conduct in companys decision. Job analysis and designing Job analysis is the procedure for determining the duties and skill requirements o f a job and the kind of person who should be hire for it. Job analysis consists of two products one is job description and second job specification. Job description: a list of job duties, responsibilities, reporting relationship, working conditions, and supervisory responsibilities- one product of a job. Job specification: a list of a jobs human requirements that is requisites education, skills, personality, and so on-other product of a job analysis. Coca cola company HR department check its own job description and job analysis in which they get the information about employees work activities, human behavior, performance standard, job context and human requirements and also other information related to this conduct. HR department of coca cola used this information for Recruiting, selection, compensation, performance appraisal, training, and employees relationship. Planning and Forecasting The process of deciding what positions th e firm will have to fill, and how to fill them. Coca cola HR department involves in company strategic planning and they also make sufficient planning for hiring new employees in the future. We forecast for the expected employees needs in the organization. We forecast of employees on the change technology and increasing in productivity. After planning we send this report to the head office for approval. If we get approval from the head office then we start recruitment process. Our recruitment process Our recruitment process is well established first of all we give ads in news papers, company website, institutions etc.Once we receive an application form, from candidates with required documents and C V. Internal recruitment External recruitment External Selection process The selection process will vary depending on the position youre applying for, as one process cant fit all the different roles we have here at CCE. However, in most cases a combination of any of the following tools will be used: Interview Group exercises Presentations Psychometric tests Role plays/Situational Exercises Interview The interview is designed to reveal more about you and your experiences. Well ask for examples of how you behaved in different situations, maybe at school, university, a club, at home or in previous jobs. This is not designed to catch you out and our interviewers will never try and trick you into an answer. Be honest, be yourself and it should be an enjoyable experience. Also, dont forget that this is your chance to find out more about us and ask questions. Remember, interviews are a two-way process so use it to understand the nature of the role and to make sure it really is what youre looking for. Group exercises Were very much a team at CCE so these will show us how effectively you work with people. Theyre a good opportunity for us to see how you communica te, influence and involve other people in the workplace. Presentations Presentations give you the chance to show your ability to communicate to a group of people on a specific topic. You may be given a topic in advance or on the day, but dont worry youll have plenty of time to prepare. Psychometric tests Psychometric tests are timed exercises that examine your abilities and potential. On occasions, we may also use a personality assessment tool that is designed to find out more specific things about you. If youre asked to complete a psychometric test, well send you information and advice in advance on how to prepare. Role Plays/Situational Exercises Designed to assess how you react in certain situations, these help to highlight particular skills and how well youre suited for a position. You may be given facts and figures to review, or a report to complete; we may also have an assessor acting as a customer or employee to simulate a situation that could occur in the workplace. Dont worry, youll be given a brief and ample time to prepare. Training process of employees Training process is essential part of every employee with out training; employee can not come to now the procedure of work, rules and regulations of firm, some times when new technology is introduced it is also responsibility of a firm to train its employees. After recruiting the fresh employee we train them for three months and also pay them salaries after three months they become part of a firm We also give training to already exist employee it depend upon condition for example if new technology is introduced first of all we give full training to them about new technology then we allow them to start their job . Performance appraisal Coca cola performance appraisal is annually Hr manger waqar mahmood said that we appraise the employee due to their performance about goals of the organization .we set the goals started the year and tell the employees about the goal if the employees achieve this goal we appraise the employees. Steps in appraising performance The performance appraisal process process contains three steps; Define the job Appraise the performance Provide feedback Define the job; Means making sure that you and your subordinate agree on his or her duties and job standard. Appraise performance; Means comparing your subsssss ordinates actual performance to the standards that have been set. Provide feedback; Means discuss the subordinate performance and progress, and make plans for any development required. External recruitment External

Frankenstein by Mary Shelley Essay - 1631 Words

How does Mary Shelley present the character of the monster so as to gain sympathy for him? When Mary Shelley wrote Frankenstein, or The Modern Prometheus, in 1818 at the tender age of 18, it was often wondered how such a young girl could imagine such a horrific story. In fact, one could find that the idea of ‘playing God’ and manipulating the ideas behind life and death were very much real at the time, and even today. Many scientists were investigating the process of bringing a dead being back to life, or galvanism, and there were some, like Humphrey Davy, who believed that scientists had no limit as to what they could do, believing that they could become masters, even creators. Shelley’s character, Frankenstein, shares these†¦show more content†¦However the novel also concentrates on the moral and political issues of society at the time, a matter that could be very easily compared with in our own time. A theme that frequently occurs in the novel is the issue of appearance and reality, and the way that society tends to judge people’s exterior rather than interior being. The creature is at first innocent, and suffers his life in loneliness and isolation, eventually becoming the monster that Frankenstein already sees him as. However the creature was not always as monstrous on the inside. It is only when he experiences constant rejection from society and even more importantly his ‘friends’, the de Laceys’, that the creature falls into the character of being a â€Å"monster†. Mary had known about Jean-Jacques Rousseau’s theory that children were born with innocence and purity, and also John Locke, who put forward the idea, tabula rasa, where children learnt from those around them and through their own sensations that they experience. Even Mary’s father, Godwin, believed that a recluse could not ever be moral, and that only when things like possession, marriage, and selfishness were abolished could there ever be happiness in our society. When the idea came to her in a dream, it was with the knowledge of all of this, and her very own traumatic personal experiences that she had already encountered in life, that Mary Shelley was able to mould her story into a tale about Frankenstein andShow MoreRelatedFrankenstein, By Mary Shelley1650 Words   |  7 Pagesbook of Frankenstein does one just think of a mythical science fiction book that really has no meaning? Frankenstein can have numerous meanings depending on how a person perceives it. Frankens tein can be analyzed into many themes; some say religion, feminism, or scientific symbolization, it all depends on ones own perception. When one analyzes further into Mary Shelly’s life and then interprets the novel it is obvious that is a sociological theme. One can simply assume that Mary Shelley creates FrankensteinRead MoreFrankenstein by Mary Shelley1093 Words   |  4 Pagesfaster than man can contend with. That argument is the premises, moral, and plot base for Mary Shelleys tale Frankenstein. On the other hand, J. Michael Bishops, essay Enemies of Promise   on the other hand promotes and boast sciences achievements. However, Mary Shelley presents her point of view subtly yet very dramatically, which is much more effective than that of J. Michael Bishop. The dramatic story Shelley creates becomes a part of the reader, therefore holding the readers attention. ShelleysRead MoreMary Shelley Frankenstein859 Words   |  4 Pages Mary Shelley The Creature in Mary Shelley’s â€Å"Frankenstein or the Modern Prometheus† needs a companionship as every ordinary human. Every man needs a woman, who will able to share moments of happiness and sadness, a woman who will be able to share thoughts and of course a woman who will be able to love a man. In this case the Creature needs a bride. But the problem is that the Creature from the â€Å"Frankenstein or the Modern Prometheus† is not a human. SoRead MoreFrankenstein, by Mary Shelley1138 Words   |  5 PagesIs Frankenstein a man, whose ambition led to a disaster; or a monster, which created a life with disregard for the human race? Frankenstein, in my opinion, was the monster not the life that he had created. Frankenstein never admitted to his family what he had done, never admitted responsibility for his actions. He might as well have killed Elizabeth, William, Justine, and Clerval with his own hand. The so called â€Å"Monster† only wanted companionship; he did not want to murder those people. TheRead MoreFrankenstein, By Mary Shelley1325 Words   |  6 PagesI have been informed that you are pushing to remove the book Frankenstein by Mary Shelley from the school curriculum. I’ve decided to write to you and explain why I believe that you are misinformed, and in fact, why this is a huge importance to the students of today. Frankenstein is a classic which recounts the life and horrors of Victor Frankenstein, as told through a series of letters and narrations. His obsession with the natural world and science brings him to a state of mind which ultimatelyRead MoreFrankenstein, By Mary Shelley1580 Words   |  7 PagesFrankenstein by Mary Shelley is a sci-fi novel written during the Romantic Movement in Britain’s early nineteenth century. The movement was stimulated by the French Revolution, Industrial Revolution and in reaction against the emphasis on reason in eighteenth-century Enlightenment philosophy (The Romantic Movement, 2014 ). Mary Shelley’s husband, Percy Shelley was also a romantic poet during the movement. Shelley’s novel is evidently influenced by her relationship with her husband, which is illustratedRead MoreFrankenstein by Mary Shelley739 Words   |  3 Pagesinterconnections of humanity, nature, and divinity (â€Å"Romanticism 1†). English Romanticism being trendy in Europe, people would vent their outlooks onto their personal fiction works such as Mary Shelley. Shelley uses vivid creativity and romantic elements to create one of her admired novels, Frankenstein. In Shelley’s novel, Frankenstein, most of the characters prove their compassion for mankind, prove their rejection of technology and science, and prove their involvement in a romantic quest. These several characteristicsRead MoreFrankenstein, By Mary Shelley1040 Words   |  5 Pages In 1818, a book titled Frankenstein was published anonymously, mysteriously dedicated to William Godwin, a prominent journal ist and political philosopher of his time. The immediate reviews of the novel were mixed, most edging towards critical, although no one knew who the book was written by. However, while Frankenstein failed to gain popularity immediately, no one had any idea the lasting impact this novel would have on the world. Despite the lukewarm reception at its debut, it soon proved to beRead MoreFrankenstein, by Mary Shelley1078 Words   |  5 PagesMary Shelley’s Frankenstein has undoubtedly withstood the test of time. Frankenstein’s direct association with fundamental Gothic literature is extremely renowned. However, the novel’s originality is derived from the foundational thematic values found within the relationship (or lack there of) between Victor Frankenstein and the monster he had created, in combination with a fascinatingly captivating plot. Understandably, Frankenstein can often be associated with a multitude of concepts; however,Read MoreFrankenstein, By Mary She lley1532 Words   |  7 PagesLike any author, especially one who created a new genre, there will be criticism, and Shelley is no exception. Shelley received criticism surrounding Frankenstein not only because she was a female writer, but because of her writing style. Originally, Frankenstein was published anonymously and was thought that her husband, Percy Shelley, wrote it (â€Å"Mary Shelley Biography† 2016). Shelley may have published Frankenstein anonymously because â€Å"’women understood that they got a â€Å"better hearing† if it was thought

Keeping the Drinking Age at 21 Free Essays

Listening to the news on television, hearing other students talk about it, is it really true, or are they going to lower the drinking age to 18? This is not just a rumor but nowhere have they actually lowered the age. The debate has been talked about for the last few years. The nation has always tried different things to solve the irresponsible drinking problems. We will write a custom essay sample on Keeping the Drinking Age at 21 or any similar topic only for you Order Now In order to try and prevent this problem America has tried a national prohibition in the 1920’s and state prohibitions in the 1850’s. Many believe that rising the drinking age has saved lives of many young adults. There has been evidence that the drinking age of 21 has decreased the amount of tragic car accidents related to alcohol between young adults. Since 1987 the decrease of drinking and driving problems have gone down. If they did lower the drinking age to 18 or 19 the more health related problems the young adults would deal with once they get older. On the other hand the current law of the minimum drinking age at 21 leads to problems behind the scenes. The amount of students at colleges under the age 21 are more likely to be binge drinkers, which means they have more than five drinks in a row. This can be very dangerous to the body. Many also argue that if a person is old enough to fight for the country they should be old enough to have a beer. Also if a people are expected to be able responsible and live on their own at eighteen they should be able to be responsible enough to drink on their own. There are many pros and cons to lowering the drinking age, but the most important reason not to lower the drinking age is to protect the lives of young adults. A survey found that out of 1,881 surveyed college students 88 percent of males and 86 percent of females said they were drinkers (Gonzalez 2). Many adults have noticed the problem of underage drinking and want to fix the problem. If the states were to lower the drinking age we would be putting many lives at risk. Many studies have shown that the minimum drinking age of 21 has saved many lives when it turns to drinking and driving. In the article College-age Drinking Problems states â€Å"the age limit at 21 has saved 16,500 lives in traffic crashes alone since 1975† (Hingson 1). Traffic crashes are one of the leading causes of deaths in America for people under the age 25. 10,431 people between ages 15 and 24 died in 1996 from fatal traffic crashes and 45% of them were related to alcohol (1). By leaving the drinking age to 21 it will continue to save many lives from traffic crashes. The amount of alcohol related accidents doubles if a person has a . 02 percent increase in blood alcohol level. For people under 21 drinking and driving increases the risk of being involved in a fetal traffic crash with each alcoholic dri nk they have. As Hingson says â€Å" For young drivers, drinking is like throwing gasoline on a fire† (1). It is illegal for anyone under 21 to drive with blood alcohol level more than . 0 percent. With this law alcohol related traffic deaths has dropped 57 percent from 5380 in 1982 to 2315 in 1996 with people ages 15 to 20 (2). Lowering the legal limit for the amount allowed of blood alcohol content (BAC) for drivers will continue to save lives. The lowering of BAC has shown a 5 to 8 percent decrease in alcohol related traffic crashes (Wagenaar 6). Drivers under 21 who are intoxicated are more likely to get involved in traffic crashes, because they have less experience on the road. Communities have noticed the problem with underage drinking and driving and started The Saving Lives Project, which was designed to reduce alcohol impaired driving and related problems (Holder 2). This project uses media and education to get the word out about the risk of drinking. The communities that are apart of this project have shown a 40 percent reduction in alcohol related fatal crashes (Holder 2). The project has been shown that older teens ages sixteen to nineteen are now less likely to drink and drive after learning about the risks in alcohol related classes. Colleges that have set a week to focus on education and prevention of alcohol have shown a five-fold increase (Gonzalez 4). Not only does alcohol affect a person once they drink a beverage but it also affects them in their future. If people start drinking at a younger age the more problems they will encounter in their future. Over the life of many people it has been proven that most people drink the most in their late teens and early twenties (Chen 1). Drinking in young adults is turning to be a serious concern with public health. By exceeding the daily drinking limit is about four or more drinks in a single day, and college teens shown that hey binge drink. Binge drinking is when a person consumes more than five drinks in one setting (Hingson 1). People who binge drinks are more likely to do things they regret, fall back in schoolwork and become hurt or injured. Alcohol can cause risky behaviors and immediate and long-term problems with health. Becoming stricter on under age drinkin g laws can prevent this. If the cops gave more MIP’s out to parties with underage drinking teens would be less likely to drink. Even though many would agree to keep the drinking age at 21, many would also have many reasons why to lower the drinking age to 18. One main argument is if a person is old enough to fight for the country, vote or live on their own they should be old enough to drink (Johnson 1). If a man and women is old enough to go to war and put their life at risk they should be able to drink on their own. People would argue if they are old enough to vote for the person who runs the country, then what’s the difference in choosing the responsibility of drinking. Colleges have also debated the fact of lowering the drinking age. College president McCardell say’s â€Å"it does not reduce drinking. It simply puts young adults at greater risks. (2) Many agree with McCardell and say that the drinking age of 21 does not prevent college students from drinking. It just causes them to drink under ground. If young adults do drink under ground they are more likely to binge drink and put their life at risk. â€Å"85 percent of 20 year old Americans reported that they have used alcohol, and two out of five said they have binge drank† (2). Johnson believes that if they lowering the drinking age young adults would learn to drink responsibly and stop binge drinking. Even though they are great arguments, raising the drink to 21 has proof with statistics that it has saved lives of many each year. It is more important to save the lives of people than it is to let them drink. Educating young adults about the risks of drinking can also prevent binge drinking. If the community worked together to have alcohol awareness days more people would be aware of the problem of underage drinking. The more people know about the problem the more people will work together to stop the problem. It can also stop underage drinking by creating more laws towards the people who sell to minors. If more people got in trouble for selling to minors the less people would sell to minors. The communities who have taken the step up in stopping underage drinking problems have noticed a huge change in the amount of deaths related to alcohol. By keeping the age at 21, it will continually save lives of accidents related to alcohol. If there was not a problem with the drinking age at 21 they would have never raised the age to 21, the law was set in place for a reason and it has been shown that it is a good law. As a parent many are worried about their children and want to make sure they will not ruin their life with alcohol related problems. How to cite Keeping the Drinking Age at 21, Papers

Materiality In Financial Statements Essay Example For Students

Materiality In Financial Statements Essay It is the responsibility of an independent auditor to plan and perform an audit of financial statements that will provide reasonable assurance of detecting errors and irregularities that are material in nature. According to the Financial Accounting Standards Board, the essence of the concept of materiality is: â€Å"The omission or misstatement of an item in a financial report is material if, in the light of surrounding circumstances, the magnitude of the item is such that it is probable that the judgment of a reasonable person relying upon the report would have been changed or influenced by the inclusion or correction of the item.† Materiality is a term that is hard to quantify, and must be determined for each individual situation. Public accounting firms have established informal quantitative and qualitative measures in an attempt to establish materiality thresholds. These measures have been affected and enhanced by statements of the Securities and Exchange Commission and ot her regulatory agencies and professional organizations. In setting the preliminary judgment about materiality, auditors establish the maximum amount by which they believe the statements could be misstated and still not affect the decisions of reasonable users. An amount is considered material when it is one dollar more than the amount required for a user of financial statements to change their decision. Two broad types of materiality have been recognized: quantitative and qualitative. Quantitative materiality is economic in nature and exclusively depends on the effect of a fact on the company’s financial performance. Typically, public accounting firms have established quantitative materiality thresholds, and have used specific mathematical procedures in this process. Once the effect of a fact exceeds a certain percentage or amount of the item serving as the base measurement (ie. net income, stock price, or total assets), the fact is disclosed as a material statement. Qualitative materiality is not as straightforward or easy to meas ure. In an attempt to clarify qualitative materiality, FASB asserted that â€Å"materiality judgments can properly be made only by those who have all the facts.† Thus, qualitative materiality takes into account the relevance and reliability of a fact to determine its effects on the financial statements, encompassing the information available in its entirety. The Securities and Exchange Commission (SEC) is an agency of the federal government whose purpose is to help to provide investors with reliable information for use in making financial and investment decisions. The SEC has determined that the creation of accounting principles and auditing standards should be left to the accounting professionals, namely the Financial Accounting Standards Board (FASB) and the Auditing Standards Board (ASB). However, the position of the SEC is greatly taken into account when changes are proposed. Recently, the SEC disclosed its position on the practice of using quantitative benchmarks in dete rmining materiality. On August 12, 1999, the SEC released Staff Accounting Bulletin 99. This bulletin expressed the view of the SEC that â€Å"exclusive reliance on certain quantitative thresholds to assess materiality is inappropriate.† SAB 99 eliminated the common â€Å"rule of thumb† practice followed by most public accounting firms that allowed transactions affecting financial statements by an amount less than five percent to be disregarded and deemed immaterial. The quantifying of materiality in a percentage term should be just the beginning of a materiality analysis. The emphasis of the SEC’s bulletin was to encourage auditors to view facts in the context of the surrounding circumstances. All relevant factors, both quantitative and qualitative, must be accounted for and â€Å"magnitude by itself, without regard to the nature of the item and the circumstances in which the judgment has to be made, will not generally be a sufficient basis for a materiality j udgment.† To assist auditors in determining relevant considerations in determining materiality, SAB 99 provided a partial list of situations where misstatements that are quantitatively small may be deemed material. These situations include misstatements which: ? Arise from an item capable of precise measurement or from an estimate and, if so, the degree of imprecision inherent in the estimate? Mask a change in earnings or other trends? Hide a failure to meet analysts’ consensus expectations for the enterprise? Change a loss into income or vice versa? Concern a segment or other portion of the registrant’s business that has been identified as playing a significant role in the registrant’s operation or profitability? Affect the registrant’s compliance with regulatory requirements, loan covenants or other contractual requirements? Have the effect of increasing management’s compensation? Involve the concealment of an unlawful transaction SAB 99 is an attempt by the SEC to provide guidance to auditors when dealing with areas that have the possibility of becoming material. This guidance will help to provide investors with more complete information, which is necessary to make sound financial decisions. .u68e558daa5a9b148704f58285a3a829d , .u68e558daa5a9b148704f58285a3a829d .postImageUrl , .u68e558daa5a9b148704f58285a3a829d .centered-text-area { min-height: 80px; position: relative; } .u68e558daa5a9b148704f58285a3a829d , .u68e558daa5a9b148704f58285a3a829d:hover , .u68e558daa5a9b148704f58285a3a829d:visited , .u68e558daa5a9b148704f58285a3a829d:active { border:0!important; } .u68e558daa5a9b148704f58285a3a829d .clearfix:after { content: ""; display: table; clear: both; } .u68e558daa5a9b148704f58285a3a829d { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u68e558daa5a9b148704f58285a3a829d:active , .u68e558daa5a9b148704f58285a3a829d:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u68e558daa5a9b148704f58285a3a829d .centered-text-area { width: 100%; position: relative ; } .u68e558daa5a9b148704f58285a3a829d .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u68e558daa5a9b148704f58285a3a829d .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u68e558daa5a9b148704f58285a3a829d .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u68e558daa5a9b148704f58285a3a829d:hover .ctaButton { background-color: #34495E!important; } .u68e558daa5a9b148704f58285a3a829d .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u68e558daa5a9b148704f58285a3a829d .u68e558daa5a9b148704f58285a3a829d-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u68e558daa5a9b148704f58285a3a829d:after { content: ""; display: block; clear: both; } READ: Of Praise EssayThe concept of materiality in financial reporting is a sensitive and difficult topic to define. The quantitative measures of materiality, which were almost exclusively followed for so long by public accounting firms, are not sufficient when making the decision regarding financial disclosures. The issuance of SAB 99 will help auditors to more closely consider qualitative measures, which are notably more difficult to pinpoint, yet can carry a great impact on materiality and financial decisions. Business Essays