Management Exam Notes Essay examples - 1571 Words

Management Exam Notes – Case Study Notes – A Fallen Star Strengths * Positive Outlooks and Goals for company growth in the Future * Long History of Successful projects at home * Endeavour has incentives to bring in new talent * Seeks to atone for past mistakes through using a business analyst * Large Skill base amongst employees * Strong Reputation Locally Weaknesses * Branching into areas without enough knowledge of the land or culture * Wrong focus to compete with local rivals by expanding overseas – resulting in loss of power at home * Inexperienced staff * Staff being placed into roles in which they are unsuitable (Mike) POOR HRM * Risking a lot of resources and†¦show more content†¦* E.G: Reward Systems, Employee performance appraisal systems to influence those who adhere to the new changes * Force-Field Analysis: * A method involving analysing the two types of forces – driving forces and restraining forces – that influence any proposed changes, then assessing how best to overcome resistance * Driving Forces: Factors Pressuring for a particular change * Restraining Forces: Factors Pressuring against a change Motivational Theories applicable to the case study: * ERG THEORY: * Defined: Theory that argues that there are three levels of individual needs; existence, relatedness and growth * Existence: Needs that include various material and physiological necessities such as Food and Water, in addition to Work Needs such as Pay and Physical Woking conditions * Relatedness: Needs addressing our relationships with significant others, such as families, friends, work groups and professional groups * Growth: Needs that require creativity and innovation, along with the desire to have a productive impact on our surroundings * Applied: * Existence: Is being fulfilled because employees are getting paid concurrently * Relatedness: Is NOT being fulfilled due to the fact that there is a deep rooted lack of teamwork, there are conflict between team member and has lead to turf wars. In addition to theShow MoreRelatedSP15 SCM 305 Syllabus1256 Words   |  6 Pagesoperations research, and operations management. We will apply these tools and principles to problems in financial management, marketing, operations, supply chain management, and quality management. We will also look at risk management in decision making and ethics in decision making. Required Class Materials: 1. Text Book – Schaum’s Outline; Operations Management – Decision Making in Business 2. Decision Making in Operations Management, Walden, 2014 3. 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HRM 531 Week 2 Individual Assignment Activity mode, HRM 531 Week 2 Individual Assignment , Home Work Tutorials, Home Work Solutions, Home Work Essay, Home Work Questions.ACC 565 Wk 7 Assignment 3, ACC403 week 2 assignment, ACC565 Week 10, ACCT 212 (Financial Accounting), ACCT 344 (Entire Course) - Devry, ACCT 344 Final Exam Latest 2014 - Devry, ACCT 346 (ManagerialRead MoreHrm 517 Week 6 Assignment 1 Planning Document896 Words   |  4 PagesProject or similar software. Note: You will have to make assumptions or create fictitious data for this assignment. Be clear about these assumptions and data for your professor to follow along. Write a 6-8 page paper in which you: 1. Construct a project charter to revamp the compensation and benefits package. 2. Design a communication plan for the project. 3. Define the scope of the project. More Details hidden... Activity mode aims to provide quality study notes and tutorials to the studentsRead MoreFmc Course Netherland1093 Words   |  5 PagesFinancial Management Control – IM07CC CEMS Dr. Marcel van Rinsum Associate Professor RSM Erasmus University Department Accounting Control mrinsum@rsm.nl Introduction Financial Management Control Systems (FMCS) form the bridge between the organization’s strategy and its operations. Their purpose is to align managerial behaviour and decision making with organizational goals. Although management controls are typically embedded in the organization’s financial management and accounting systems, theirRead MoreIs582 Final Exam Study Guide1116 Words   |  5 PagesFinal Exam Study Guide YOU MAY WANT TO PRINT THIS GUIDE. 1. The final exam is open book, open notes. The maximum time you can spend in the exam is 3 hours, 30 minutes. If you have not clicked the Submit For Grade button by then, you will be automatically exited from the exam. 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(Course Leaders, Managers, Entrepreneur.) Watch the videos first,

Essays on (Course: Leaders, Managers, Entrepreneur.) Watch the videos first, then respond to the videos by addressing the question: How can change and the power of leadership transform any business Movie Review June 4, How Change and the Power of Leadership can Transform Business Change and leadership are some of the most importantfactors that can stimulate the evolution or devolution of businesses. Swiftly and sufficiently responding to internal and external changes is one of the vital roles of leaders. Moreover, leaders can bring about changes too in their organizations and the industry through facilitating and supporting radical or incremental organizational changes. How can change and the power of leadership transform any business? Change can transform business by pushing companies to change their cultures, structures, and products/services, in order to become or remain relevant to their target markets, while leadership transforms businesses through igniting innovation and changes towards growth and motivating people towards the organizational vision, mission, and goals. Change can transform business by driving companies to change their cultures, structures, and products/services, in order to generate or preserve relevance to their target consumers. Technological changes have enabled the production of widespread innovations around the world. The Internet has spawned the development of online businesses and products. Sitecore describes the complexity of business in modern times. It says that â€Å"20 years ago, there were 620 websites,† now â€Å"31 million [are] added every month† (Sitecore). It also notes changes in media consumption. Half of U.S. teenagers, for instance, prefer to communicate digitally than face to face, while more people are shopping online and spending more time on the Internet than watching TV, including adults and senior citizens (Sitecore). Because of these changes, Forrest Consulting (2012) stresses that â€Å"marketers must evolve to meet the expectations and demands of the multichannel costumer† (Siteco re). Changes may be innovations themselves, but they also promote new innovations. The creation of e-books promotes self-publishing and threatens independent bookstores, which results to changes in the business of producing, selling, and delivering books (Wilson). E-books may not entirely replace print books, but an increasing demand for it pushes bookstores to also offer e-books in their online websites. Some publishers are also changing their organizational cultures to become more business-savvy in the Internet age (Wilson). They change their bureaucratic structures and adapt team-based ones (Wilson). Change promotes new products and services and stimulates organizational changes. Moreover, change can encourage the rise of new companies and push old ones to innovate. McCray, Gonzalez, and Darling describe the organizational crisis in Barnes Noble. The company was once one of the top bookstores in America, until Amazon.com replaced it with its online business platform that sells b ooks and other products. Barnes Noble played catch up with Amazon.com because of its declining sales in its brick-and-mortar stores and even in its company website. Amazon.com is an example of how technological change transforms the business of publishing and selling books and other products. Besides change, leadership can transform a business because leaders bring their organization to the high road where innovations and changes can drive organizational growth and development. Peter Irvine, co-founder of Gloria Jeans, describes a leader as someone operating in the high road, while the majority works in a heavily populated low road (Gattari). He is saying that a leader does not follow the crowd. A leader sets himself/herself apart from the crowd and finds something more meaningful and new to offer his/her consumers and employees. In addition, Irvine asserts that leadership is being dissatisfied with the current organizational situation (Gattari). Barnes Noble was not easily discontented with their initial organization situation, despite the prevalence of online shopping. As a result, Amazon.com took the opportunity to offer a competitive customer shopping experience online (McCray et al. 42). A leader that is always looking for improvement will have fewer missed changes, since he/she is willing and open to changes, as its environment and consumers change. Apart from driving innovations and changes, leaders motivate employees to work for the organizational vision, mission, and goals. Irvine differentiates leaders from followers. He says that leaders ask what they want from the business, why they want it, and how badly they want it. Wanting something badly drives constant action. He cites John Maxwell who says that leadership is the â€Å"passion to make difference with others† (Gattari). Leadership changes organizations when they revive or sustain employee engagement in their respective job positions (Gattari). A good example is Southwest Airlines. McGee-Cooper, Trammell, and Looper show from their study that servant leadership is essential in promoting the culture of Southwest, a culture centered in teamwork and fun-loving attitude in life and at work. Colleen Barrett, President of Southwest Airlines, is a servant leader who serves employees and customers with utmost dedication and who supports continuous training and developme nt for employees (McGee-Cooper et al.). She motivates her people to do their jobs well and to see their roles with respect to the organizational vision, mission, and goals. Great leaders transform organizations from being mediocre to being the top in their industries, when it comes to services and organizational commitment and morale (McGee-Cooper et al.). Change and leadership can transform businesses because they foster innovation and the readiness to adapt to different changes. Leaders can lead changes, or they can creatively respond to changes. They see changes as possibilities for innovation and growth, and not as limitations. They can transform their organizations because they are open to transforming themselves too. Great leaders can lead effectively, even during times of drastic and incremental changes, inside and outside their organizations. Works Cited Gattari, Tony. â€Å"The Power of Leadership.† YouTube. YouTube, 12 Jan. 2009. Web. 1 June 2015. McCray, John P., Gonzalez, Juan J., and John R. Darling. â€Å"Transformational Crisis Management in Organizational Development: A Focus on the Case of Barnes Noble vs. Amazon.† Organization Development Journal 30.1 (2012): 39-52. Business Source Complete. Web. 1 June 2015. McGee-Cooper, Ann, Trammell, Duanne, and Gary Looper. â€Å"The Power of LUV: An Inside Peek at the Innovative Culture Committee of Southwest Airlines.† Reflections 9.1 (2008): 49-54. Business Source Complete. Web. 1 June 2015. Sitecore. â€Å"The Only Constant in Business is Change.† YouTube. YouTube, 4 Dec. 2012. Web. 1 June 2015. Wilson, Tom D. â€Å"The E-Book Phenomenon: A Disruptive Technology.† Libellarium: Journal for the Research of Writing, Books Cultural Heritage Institutions 6.1/2 (2013): 3-12. Library Information Science Source. Web. 1 June 2015.

Finance in the Hospitality Industry

Question: Discuss about Finance in the Hospitality Industry? Answer: Financial management is one of the major aspects of any business. However, managing finance related aspects are never easy and most of the financial managers should have adequate knowledge and information to manage such aspects (Jones, Hillier and Comfort 2016). Financial managers must have adequate information regarding the financial requirements of the business (Brotherton 2012). The managers must also have the information related to the sources of funding available to business. The managers also should have the ability to make effective decisions related to financial management. Such decisions largely depend on various factors such as the existing performance, future prospective and current capabilities of the companies (Sheffet et al. 2014). Various tools or techniques such as financial ratios are there to analyse such factors. The current study critically analyses various key aspects related to Finance. Main Body Sources of funding and income Sources of Funding Two key financial sources of funding available for the companies are equity and debt. Three major types of capital that help the businesses managing their business are fixed capital, working capital and growth capital. Fixed Capital: Fixed capital is useful for financing towards the purchase of any asset or equipment. Such assets are usually long-term. The building, machinery, and Vehicles are key examples of such assets (Brooks and Mukherjee 2013). Working Capital: Working capital involves short-term business expenditures and daily business operation such as paying wages or salaries, inventory etc (Bodnar et al. 2013). Growth Capital: Growth capital is mainly used for expanding or diversifying the business operations. For instance, growth capital is required for developing a new project (Molina and Preve 2012). Following are the key sources of these capitals. Equity: Equity is the capital, which is generated by the companies through issuing shares. The interest of the investors is the key factor. Not getting an adequate return, or even losing money are the key concerns of the equity capital. The investors having equity have the limited ownership right to the business (Ruan and Yan 2012). Various sources of Equity Financing are as follows: Friends and family members Personal savings Corporations Partners Public stock sale Venture capital companies (Ledgerwood 2014) Debt: Debt is another key source of funds, where the borrower has to repay funds with interest. Debt is recorded as the liability in the financial statements (balance sheet) of the company. Debt financing is relatively expensive than equity financing, in the case of small business companies (Rey 2015). Various key sources of debt capital are as follows: Trade credit Commercial banks Saving and loan associations Commercial finance companies Equipment suppliers (Claessens and Kose 2013) Such sources of funds can be considered by the companies based on their capital requirements and financial management structure. Selected sources of finance Selected sources of funding available to Ryanair are as follows: Marginally Positive Working Capital Inflows Funds from Operations (FFO) (800 Million) Cash and Cash Equivalents (2.8 Billion) Factor influencing the sources of finance for Ryanair Factors that may influence the sources of funds for Ryanair are as follows: 600 Million Extraordinary Shareholder Returns 500 Million as Capex 400 Million as Debt maturities Relevant cost Relevant costs involved by using various finance sources to fund are as follows: Average Cost Marginal Cost of Capital Future Cost Historic Cost Spot Cost Specific Cost Explicit Cost Opportunity Cost (Alcock et al. 2013) Principal (amount) and its accompanying cost(s) The principal and the accompanying cost on the main financial statements of Ryanair will be recorded on the income statement, balance sheet, statement of cash flows and statement of retained earnings (Dembiermont, Drehmann and Muksakunratana 2013). Contribution made by a range of methods of generating income within Ryanair Holdings PLC Various methods of generating income within Ryanair Holdings PLC are there. Such method may include the fees, charged against the core services offered by Ryanair Holdings PLC to their customers, in order to recover the cost for the provision of service. Manufacturing and sale, even resale are the most popular and core methods of generating income (ÄŒihk et al. 2012). Renting and leasing the tangible asset to other entities are also the most common methods of generating income. Various intangible assets such as methodology, proprietary, goodwill and brand can also be considered as the methods of generating income. In the case of the hospitality industry, offering services to the customers is the major method of generating income. Ryanair Holdings PLC is an Airline company that introduces the 'lowest fare / lowest cost' model for generating income through their core Airline services. Airport subsidies and website traffic monetization to partners are one of the key methods of g enerating income within Ryanair Holdings PLC, as almost 25% revenue of the company comes from such methods (Haldane 2013). Conclusion Cash and cash equivalents and working capital inflows are effective sources of a fund that Ryanair Holdings PLC was capitalising on. However, Funds from operations is the major sources of funding for the company and the management of Ryanair Holdings PLC considered offering share buyback, as their profit was more than double. The companies like Ryanair Holdings PLC that have both internal and external finance, usually tend to utilise the internal finance options. Most of such companies often make plans to evaluate the available money and to forecast the position of the company during any development. However, the companies may have to face various issues, while considering the internally generated income as the funding option. Lack of flexibility is one of the key issues. In addition, the capital of the company also decreases. As a result, the company may have to face various vulnerable situations, when they need cash, but they have nothing available at that moment. External finance implies either tending towards debt or losing major control. The company may consider obtaining external investments through venture capitalists and shares public. Such companies are vulnerable to takeover. Elements of cost Cost card Total direct material cost = 380 Total direct labour cost = 280 Standard direct cost = 660 Standard variable costs of production = 700 Standard full production cost = 880 Standard cost of sales = 233 (Refer to Appendix 1) Actual and Estimated total Profits Standard sales price = 1163 Units produced and sold = 2000 (Refer to Appendix 1) Methods of Controlling Stock and Cash Various methods are there to control the stock and cash for the hospitality industry. The key aim of managing the stock is to avoid the trouble of deploying asset and to minimise the material holding cost for protecting the material (Reinhart, Reinhart and Rogoff 2012). Various key methods of controlling stock are as follows: Economic Order Quantity (EOQ): EOQ is one of the effective procedures to evaluate the adequate economic quantity for material, which is needed within a particular period of time. The below-mentioned formula evaluates the economic quantity, which is essential for maintaining balance the holdings too much or too little stock (Backer 2015). (Fernandes, Lynch Jr and Netemeyer 2014) Just in Time (JIT): The method, just in time or JIT is useful for minimising the stock, as the companies usually purchase materials as per their requirements and for avoiding the maintenance cost (Kapan and Minoiu 2015). However, there are various issues with the JIT method. For instance, the business operations can be delayed, in case, the material is not delivered on time due to any reason. First in First out (FIFO): FIFO is one of the sophisticated methods to ensure that perishable material will be utilised effectively. In the case of utilising highly perishable material and the situation, where the cost of holding is greater, FIFO is typically implemented (Reinhart, Reinhart and Rogoff 2012). SEC PLC - Economic Order Quantity (EOQ) - Maximise Profit EOQ Holding cost 25 Demand 32000 Ordering costs 10 Step 1 640000 Step 2 12 ECONOMIC ORDER QUANTITY: 230.94 Evaluating business accounts Trial balance A trial balance is organized during an accounting cycle. It is essential to record all the journal entries, before preparing the trial balance. The key rationale of preparing the trial balance is to maintain a balance between both debits and credits. All of the ledger, accounts, debit or credit balances and both general journal and special, listed for justifying whether debits equal credits in the trail balance recording process (Nikulina et al. 2015). The structure of the Trial Balance (Refer to Appendix 2). Financial Statements of Label Consultancy PLC Income Statement Revenue 2012 Sales revenue 4,500 Inventory 2,00,000 Total Revenues 2,04,500 Expenses Administration 700 Investments 2,500 Dividends 60 Distribution 30 Purchases 2,020 Total Expenses 5,310 Net Income Before Taxes 1,99,190 Income tax expense 90,000 Income from Continuing Operations 1,09,190 Net Income 1,09,190 Balance Sheet Assets Current Assets: Cash $3,50,000 Accounts Receivable $8,50,000 Less: Reserve for Bad Debts 0 8,50,000 Merchandise Inventory 2,00,000 Total Current Assets $14,00,000 Fixed Assets: Equipment 50,000 Less: Accumulated Depreciation 7,000 43,000 Buildings 1,50,000 Less: Accumulated Depreciation 1,20,000 30,000 73,000 Other Assets: Goodwill 3,00,000 Total Other Assets 3,00,000 Total Assets $17,73,000 Liabilities and Capital Current Liabilities: Accounts Payable $5,00,000 Sales Taxes Payable 90,000 Total Current Liabilities $5,90,000 Long-Term Liabilities: Long-Term Notes Payable 0 Mortgage Payable 0 Total Long-Term Liabilities 0 Total Liabilities 5,90,000 Capital: Owner's Equity 10,00,000 Net Profit 1,83,000 Total Capital 11,83,000 Total Liabilities and Capital $17,73,000 The process and purpose of budgetary control to Label Consultancy LTD Budgetary objectives: It is essential for the finance personnel to understand the objectives and policies of the companies regarding the execution of the budget (Reddy 2015). Budgetary organisation: the Appropriate organisation is essential for preparing, maintaining and administrating budgets successfully. Departmental heads and managers have the authority to develop functional budgets (Bugg-Levine, Kogut and Kulatilaka 2012). Budget centres: It implies the part of the organisation, regarding which the budget is prepared. The budget centres are useful for cost control purposes. Budget manual: The duties and the responsibilities of the financial executives are recorded as a budget manual (McKinney 2015). Budget controller: Budget controller is selected for the administration of budgets. The key roles and responsibilities of the budget controller include implementation, construction, coordination and revision of business budgets. In other words, the controller is responsible for managing budgetary performance (Greenbaum, Thakor and Boot 2015). Budget committee: The key aim of the budget committee is for assisting the budget controller (Brigham and Ehrhardt 2013). Budget period: The budget period indicates the time when the budget is prepared and employed. The period depends on various circumstances (Adrian and Shin 2014). Variances from budgeted and actual figures Variance Variance (%) Sales and Production (units) 300 42.86% Sales 5800 40.85% Variable cost of sales: Direct Materials Direct Labour Variable Overheads 84000 -85.71% Contribution 1600 36.36% Fixed Costs 400 -7.41% Profit/(Loss) 2000 -200.00% Analysing business performance through financial ratios Financial Ratios Gross profit margin 2015 2014 Sales revenue 2000 1000 Cost of sales 1300 700 Gross profit margin = (revenue cost of sales)/revenue 0.35 0.30 Gross profit margin is one of the key profitability ratios. The gross profit margin of KAlexaddo LTD increased in 2015, compare to 2014. Therefore, it can be inferred that the company is able to enhance their profitability and is also able to retain sales to service its other costs and obligations (Haas and Lelyveld 2014). Net profit markup 2015 2014 Sales revenue 2000 1000 Cost of sales 1300 700 Gross profit margin = (revenue cost of sales)/cost of sales 53.85% 42.86% The Net profit markup of KAlexaddo LTD largely increased in 2015 and such increment indicates that the company has added product costs to cover the cost of goods. Return on capital employed 2015 2014 Earnings before interest and taxes 240 90 Current Liabilities 500 800 Total Assets 5110 4720 Return on capital employed = EBIT /(Total Assets Current Liabilities) 5.21% 2.30% Current liabilities Loans and other borrowings (overdrafts) 200 400 Trade payables 200 100 Other creditors (taxation) 100 300 Total current liabilities 500 800 The ROCE of KAlexaddo LTD on 2015 is relatively higher than 2014. Therefore, it is confirmed that the management has been able to enhance their return on capital for the shareholders. However, as per the industry scenario, the Return on capital employed is 15%, which is largely greater than the current ROCE of KAlexaddo LTD. Current ratio 2015 2014 Current Assets 1810 1110 Current Liabilities 500 800 Current Ratio 3.62 1.3875 The current ratio of KAlexaddo LTD is exceptionally well in 2015, even in terms of in terms of industry standards, which is 2.3:1. However, the current ratio was low in 2014. It can be inferred that the company has not only been able to increase their current assets, but also to decrease their current liabilities. The company has the ability to use their current assets for paying their current liabilities (Allen et al. 2016). Trade receivables collection days 2015 2014 Accounts receivables 400 800 Sales 2000 1000 Trade receivables collection days = Accounts receivables/( Sales/365) 73 146 The management is also able to minimise the Trade receivables collection days to 73 in 2015 while the Trade receivables collection days was 146 in 2014. Trade payables payment days 2015 2014 Average Accounts Payable 200 100 Cost of Sales 1300 700 Trade payables payment days = (Average Accounts Payable/ Cost of Sales)*365 56.15 52.14 The Trade payables payment days of KAlexaddo LTD slightly increased in 2015 and such increment signifies that the company is facing problems paying off their creditors. Gearing ratio 2015 2014 Long-term liabilities 1000 1200 Cost of Sales 1300 700 Trade payables payment days = (Average Accounts Payable/ Cost of Sales)*365 56.15 52.14 Share Capital 2000 1800 Retained Earnings 1010 820 Capital employed = Retained earnings + Share capital + long-term liabilities 4010 3820 Gearing ratio = Long-term liabilities/ Capital employed 24.94% 31.41% The gearing ratios of KAlexaddo LTD are normal in both 2015 and 2014. It indicates that the company is interested in financing their activities using debt. Interest cover 2015 2014 EBIT 240 90 Interest Expenses 100 60 Interest cover = EBIT/Interest Expenses 2.4 1.5 The interest cover ratios of the company for the year 2014 and 2015 were 2.4 and 1.5 respectively. Therefore, the company has been able to maintain acceptable ratio and the company is able to pay off their interest payments accordingly (Law and Singh 2014). Future competitive business strategies for KAlexaddo PLC The company KAlexaddo LTD is able to enhance their revenue and the management of KAlexaddo LTD should implement new strategies to minimise their cost of sales in the future to enhance their profitability further. Increasing the product costs to recover the cost of sales is reasonable to some extent (Gray et al. 2015). However, the management must find some other effective ways or strategies to cover the cost of sales. The company must concentrate enhancing their ROCE by minimising their current liabilities. The company has good perspective, in terms of getting loans from banks or other FIs. The company must concentrate collecting payments from the customers more effectively. The company must consider utilising their capital effectively to pay off their creditors (Adrian, Covitz and Liang 2013). Applying the model of the marginal costing Categorise costs Fixed Cost: The cost is a preset cost that does not tend to change while the amount of produced goods or services is changing. There is no relation between fixed cost and any business activity. Salaries, tax, rent, heating, insurance and lighting are key examples of fixed cost. Fixed cost is also known as the indirect cost. Such costs are not associated with any business activities directly (Kindleberger 2015). The companies have to pay fixed cost, even if they are not producing any services or products. Variable Cost: Variable cost is one of the key corporate costs that changes in accordance with the changes in production. Such cost largely depends on production volume. Variable costs are completely different than the fixed cost. Advertising, materials, electricity, rent, office supplies and insurance etc are the key examples of variable costs. Total costs include both costs. Variable cost is also recognized as the direct cost (Al-Najjar 2013). Semi-variable costs: The semi-variable cost is the grouping of both fixed and variable cost components. To certain extent or level of production, the cost remains fixed. However, after reaching or crossing the level, the cost becomes variable. Therefore, these costs have both fixed and variable in nature. The total cost can be calculated by adding fixed, variable and semi-variable costs together. Employment benefits or incentives are the perfect examples of semi-variable cost (Huang, Zhou and Zhu 2012). Contribution per product Contribution per unit = (Total revenues - Total variable costs) / Total units (Nagurney and Siokos 2012) = (1163 - 700)/2000 = 0.2315 P = 1163/2000= 0.58 V = variable cost per unit = 700/2000 = 0.35 X = Total number of units produced and sold = 2000 FC = Total fixed cost = 660 Contribution Margin = (Sales variable cost) = 1163 700 = 463 Contribution Margin ratio = 463/1163= 0.40 = 40% Break Even Point = Total fixed cost/ Contribution Margin ratio = 660/40% = 264 Break-even points in units Quarter 1: Break-even point in units = Total fixed cost/Contribution margin per unit (Stagars 2014) 2000 = 660/ Contribution margin per unit Therefore, Contribution margin per unit = 0.33 Quarter 2: Break-even point in units = Total fixed cost/Contribution margin per unit 5500 = 660/ Contribution margin per unit Therefore, Contribution margin per unit = 0.12 Quarter 3: Break-even point in units = Total fixed cost/Contribution margin per unit 4000 = 660+1300/ Contribution margin per unit Therefore, Contribution margin per unit = 0.49 Conclusion The current study concludes that the finance in the hospitality industry is comparatively different than any other industry. However, the core aspects of the finance are same. There are various options available for the business. However, the key consideration is to select the most relevant and appropriate sources of funding. Reference List Adrian, T. and Shin, H.S., 2014. Financial intermediary balance sheet management. InA Flow-of-Funds Perspective on the Financial Crisis(pp. 177-202). Palgrave Macmillan UK. Adrian, T., Covitz, D.M. and Liang, N., 2013. Financial stability monitoring. Alcock, J., Baum, A., Colley, N. and Steiner, E., 2013. The role of financial leverage in the performance of private equity real estate funds.The Journal of Private Equity,17(1), p.80. Allen, F., Demirguc-Kunt, A., Klapper, L. and Peria, M.S.M., 2016. The foundations of financial inclusion: Understanding ownership and use of formal accounts.Journal of Financial Intermediation. Al-Najjar, B., 2013. The financial determinants of corporate cash holdings: Evidence from some emerging markets.International Business Review,22(1), pp.77-88. Backer, L.C., 2015. International Financial Institutions (IFIs) and Sovereign Wealth Funds (SWFs) as instruments to combat corruption and enhance fiscal discipline in Developing States.Int'l Rev. L., p.1. Bodnar, G.M., Consolandi, C., Gabbi, G. and Jaiswalà ¢Ã¢â€š ¬Ã‚ Dale, A., 2013. Risk Management for Italian Nonà ¢Ã¢â€š ¬Ã‚ Financial Firms: Currency and Interest Rate Exposure.European Financial Management,19(5), pp.887-910. Brigham, E. and Ehrhardt, M., 2013.Financial management: Theory practice. Cengage Learning. Brooks, R. and Mukherjee, A.K., 2013.Financial management: core concepts. Pearson. Brotherton, B. ed., 2012.International Hospitality Industry. Routledge. Bugg-Levine, A., Kogut, B. and Kulatilaka, N., 2012. A new approach to funding social enterprises.Harvard business review,90(1/2), pp.118-123. ÄŒihk, M., Demirg-Kunt, A., Feyen, E. and Levine, R., 2012. Benchmarking financial systems around the world.World Bank Policy Research Working Paper, (6175). Claessens, S. and Kose, M.M.A., 2013.Financial Crises Explanations, Types, and Implications(No. 13-28). International Monetary Fund. Dembiermont, C., Drehmann, M. and Muksakunratana, S., 2013. How much does the private sector really borrow? A new database for total credit to the private non-financial sector.BIS Quarterly Review March. Fernandes, D., Lynch Jr, J.G. and Netemeyer, R.G., 2014. Financial literacy, financial education, and downstream financial behaviors.Management Science,60(8), pp.1861-1883. Gray, J., Ashburn, N., Douglas, H.V., Jeffers, J.S., Musto, D.K. and Geczy, C., 2015. Great Expectations: Mission Preservation and Financial Performance in Impact Investing.Available at SSRN 2694620. Greenbaum, S.I., Thakor, A.V. and Boot, A. eds., 2015.Contemporary financial intermediation. Academic Press. 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South America Essay Example

South America Essay Although industrialization is synonymous with progress, in the modern world it has also been the cause of many changes of energy and natural resources pattern of human settlement, social and economic context of health and in the natural environmental constituents. There have been so many instances in South America where lives have been lost, health damaged and serious injuries inflicted because environmental hazards have been ignored or the identification of hazards has taken too long. By understanding and identifying the risks early and establishing ways of assessing and controlling existing and new environmental hazards benefits associated with modernization may be enjoyed without degradation of environmental conditions.These days South America is facing various environmental problems. Among several causes of environmental pollution three major causes effecting the environment of South America are1.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Air pollution2.  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Water pollution3.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Misuse of fertilizers insecticides.(Lamb, 2006, 145, 1)Air pollutionAir pollution is a serious problem which South America has faced for years. Due to air pollution percentage of oxygen in atmosphere is reducing day by day. As a result increasing number of people is suffering from lung problems. Poisonous gases in atmosphere are killing small animals bird sand effecting human lives. The precipitation areas in industries have caustic vapors these cause skin problems. In some industries people work in fluoride environment .Continuous exposure to fluoride leads to a disease Fluoric in which bones and teeth are effected. Air pollution is also casting drastic effect in vegetation of South America. The result of which is comparatively less and irregular rainfall, which again causes dryness and scarcity of water. These causes soil erosion because of which fertility of la nd reduces resulting in more loss of vegetation. The industrial areas of South America like Brazil, Argentina, and Uruguay severely suffer from air and water pollution.South American countries have vast deposits of mineral resources. Argentina abounds in deposit of coal, lead, copper etc, Columbia is a leading supplier of emerald, and Venezuela leads in production and export of oil outside Middle East, Venezuela ranks 8th in the world in production of diamonds. Mining is one of the major occupations in countries of South America. Major environmental impacts of mining operations are: (i) degradation of land; (ii) pollution of surface and ground water resources; (iii) pollution of air. (iv) Deforestation including loss of flora and fauna; (v) rehabilitation of effected population including tribal; (vi) impacts in historical monuments and religious places.Prime causes of Air pollution are follows1.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Poisons   bases lice Sulfure d ioxyde, Nitrogà ¨ne oxydes, volatile hydro-carbons, etc.2.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Carbon monoxides   and other Poisonous   gases emitting from factories3.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Carbon dioxide emitting from factories when raw materials or fuel is burned increases global warming.4.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The Ozone layer in our atmosphere is constantly being effected by cfcs and aerosols emitted by electronic goods like refrigerators, air conditioners and Foam blowing factories.5.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Methane gas emitting from open garbage also contribute in increasing global worming. (Lamb, 2006, 199, 1-6)Water pollutionDue to water pollution lives of aquatic plants and animals are very adversely affected. Deaths due to water born diseases are increasing day by day in South America.Poisonous sewage wastes, plastic packets thrown in water bodie s are killing aquatic plants and animals.There are various causes of water pollution such as wastes running from industries and factories, septic tanks, oil secretion from water vehicles, wastes from construction sites etc thrown in water bodies. The rivers on South America   like Amazon , Parana , Uruguay , Salvado   flowing in industrial areas of Argentina , Brazil gets   highly polluted with poisonous wastes thrown from industries. Poisonous pesticides used in agricultural areas get dissolved in ground water and effects human and animal health hazardously. Mineral extracted interact with ground and surface water thus polluting water resources. Loss of top soil due to deforestation also depletes ground water resources and results in drying up of perennial sources like springs and streams especially in hill areas. (Lamb, 2006, 121, 1)Environmental pollution due to misuse of fertilizers and pesticidesIn South America due to urbanization  Ã‚   availability of agricultural lan ds has decreased. To cope up with this problem increasing yield substantially was necessary. To fulfill this purpose use of fertilizers and pesticides are increasing day by day. Pesticides can be divided into three subgroups namely Insecticides, Fungicides Herbicides. Insecticides comprise of Chlorine, Phosphorous, Carbonate chemicals such as DDT, Aldrin etc. Herbicides are generally used for controlling growth of weeds. These cause less harm to the environment than insecticides. Example of Herbicides is Atrazine, Propachlor etc. Herbicides do not leave long term effect on soil. Fungicides are mostly used in vegetable farms and orchards. The factors such as soil type, depth of water table, rain fall infiltration and persistence of compound in soil determine the entry of any pesticide in ground water. Some water soluble pesticides get dissolved in ground water and enter into food and effect human and animal health. Some pesticides contain aromatic compounds which do not get degraded easily after washing fruits and vegetables. These pesticides along with food cause health hazards. Water soluble pesticides cause cancer, birth defects and gene mutation. Most of the agricultural areas of South America lie in Brazil. Brazil, the largest country of South America having 8,511,965 sq km area is mainly an agricultural country. Agriculture accounts for about 9% of GDP. In some areas of Brazil on the banks of Amazon River still primitive methods of agriculture are followed.   Use of fertilizers and pesticides are limited in these areas. But in coastal areas of Brazil and Argentina, on banks of rivers Parana , Uruguay   and Salvado modern techniques of agriculture are followed. Here fertilizers and insecticides are used extensively. (Lamb, 2006, 201, 2-7)Suitable remedies to control environmental pollutionThere are several ways to reduce environmental pollution.Plantation of trees reduces air pollution. Trees absorb Carbon Dioxide  Ã‚   and give out oxygen. This mai ntains atmospheric equilibrium.Industrial pollution can be reduced by following steps.Applying cleaner production means systematically addressing all phases of the production process and product life-cycle. Cleaner production encompasses energy and raw material conservation, reduction in the use of toxic substances and product and process changes that reduce wastes and pollutants previously produced. All these options have the same aim, to reduce the risk of human and the environment from industrial Activities and consumption, and to do so in the most cost effective way possible. Only the control methods, end-of-pipe (EOP) devises were devised to solve the problems of polluted surface waters , intoxicated air and other results of industrial developments. EOP wastes, also less hazardous than the raw wastes .Reducing domestic wastes in another way to prevent environmental pollution. Waste management includes taking measures so that garbage are not left open, recycling of waste product s which serves both the purposes of   saving resources and reducing environmental pollution. Such as recycling plastic bags, bottles etc. , preparing paper and fertilizers from garbage. The process of making fertilizers from house hold wastes is called composting. The fertilizers in this process more useful in increasing soil fertility. Help of non profit organizations could be taken for this purpose. Technical know how could be taken from other countries in designing machines to solve this purpose.To reduce water pollution Llma dung can be used .   This process is used in tin and silver mines of Bolivia to treat leaking poisonous waters. In this process polluted water is passed through compost beds of limestone and dung. BActeria living in this dung absorb acids in polluter water making it alkaline. It was invented by Professor Paul Younger, professor of Hydro chemical Engineering at Newcastle University. U.K. Lima dung is available in abundant quantities in South America, anim al husbandry being one of chief professions there.Another way of reducing water pollution is harvesting fish and oysters. These absorb metal content in water. Aquatic plants also serve this purpose. (King, 2006, 119, 4)Measures taken by Government of India to solve environmental problemsTo reduce environmental pollution according to the Forth Five year plan a committee set up in January 1980, for reviewing the existing legislative measures and administrative machinery for ensuring environmental protection and for recommending ways to strengthen them. In 1985 Ministry Of Environment And Forest was formed   to serve as the focal point in the administrative structure for the planning , promotion and coordination of environmental and forestry programmes. Many enactments related to protection of environment now being administered by central and state governments. Such as The Water ( prevention and control of pollution ) Act,1974; The Air ( prevention and control of pollution ) Act,1981 ;   The Water ( prevention and control of pollution ) Act,1977; The Environment Protection Act   ,1986; etc.   (Kar, 2006, 211, 3)The Environment Protection Act, 1986, provides for the protection of environment. The salient features of this Act are as follows: (a) conferring powers on the central government to :(i) take all necessary measures for protecting quality of environment ; (ii) coordinate Activities of states , officers , other authorities under this Act.   (iii) Plan and execute a nation wide programme for prevention, control and abatement of environmental pollution; (iv) lay down standards of discharge of environmental pollutants. (v) Issue directions to any person, officer or authority including the power to direct closure , prohibition or regulation of supply of electricity water or any other services. Etc. (b) it offers powers to persons to complain to the courts regarding any violation of the provisions of the Act. (c) The Act makes obligatory for the person i n charge of a place to inform prescribed authorities regarding any accidental discharge or apprehended discharge of any pollutant in excess of prescribed standards. Authorities on receipt of such information shall take remedial measures to prevent mitigate pollution caused by such accidents and expenses incurred by the authorities in respect of remedial measures are recoverable with interest from the polluter; (d) it prescribed stringent penalties for violation of the provisions of the Act. (e) Jurisdictions of civil courts is barred under the Act. (King, 2006, 116, 3)The Ministry Of Environment and Forest has announced a policy statement for abatement of   pollution in 1992, according to which ,the key elements   of pollution prevention are adoption of best available   clean and practicable technologies rather than end of pipe treatment. An environment Action Programme has been formulated covering wide ambit of subjects such as clean technologies, improvement of water quality , institutional and human resource development , forestry   and natural resource accounting. An Eco-Mark label has been introduced to label consumer products that are environment friendly .Under the E(P) Act ,1986, affluent and emission standards in respect to 55 specific industries have been notified. 84 laboratories have been  Ã‚   recognized as environmental laboratories. Minimum National Standards (MINAS) for effluent emissions from specific industries have been formulated.Action plans have been formulated to divert the sewage flow into the river to other locations for treatment and conversion into a valuable energy source.   Renovation of existing trunk rivers and outfalls to prevent overflow of sewage into rivers thus construction of interceptions to divert the flow of sewage and other liquid wastes in the river and renovations and construction of pumping stations and sewage treatment plants to recover maximum possible resources, construction of community toilets etc.Au tomobiles which have been used for 15 years have been banned.Methods of pollution control succeeded in India up to some extent. But major factors that hindered its success are1.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Lack of resources.2.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Lack of education3.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Orthodox mentality of people.4.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Corruption (King, 2006, 98, 1-3)ConclusionThe world today is under the grip of many pressing problems. Of them the problem of environmental pollution has reached a serious proportion; and it has undoubtedly posed a definite threat to man’s existence itself. All the governments of all the countries of the world have, every now and then been, giving expressions to their deep-toned worries and concern for it, the government of South America is one among them. The ecologists have been tirelessly working to explore the events and to device the means to combat and contain effectively this menace of environmental pollution. The pollution of environment owes its roots, to a very large extent, to the thoughtless and irresponsible acts of man. Environmental pollution may greatly be contained if the people can properly be educated in civic since. (Kar, 2006, 245, 3) South America Essay Example South America Essay Introduction The continent of South America has about one-eighth of the Earths land surface, situated between latitudes 12 °N-55 °S and longitudes 80 °-35 °W; no other continent has a greater latitudinal span. Eighty percent of its land mass is within the tropical zone, yet it extends into the subantarctic. The extensive zones of temperate and cold climates in the vicinity of the Equator, in the Andes, are unique. The land area of about 17,519,900-17,529,250 km? is under the jurisdiction of 13 countries (Table 49); French Guiana is governed as an overseas department of France. The regions 1995 population of c. 320 million people is estimated to reach 452 million people in 2025. Three of the worlds 21 megacities are in South America: Sao Paulo, Buenos Aires and Rio de Janeiro (WRI, UNEP and UNDP 1994). Geological setting Although the neotropics may be conveniently considered as a single phytogeographic unit, the region is geologically complex. The neotropics include not only the South American continental plate but the southern portion of the North American plate, as well as the independent Caribbean plate (Clapperton 1993). The complicated geological history of the region, for example as these plates intermittently separated and collided through the Cretaceous and the Tertiary, provides the milieu within which plant evolution has been superimposed. South America has been an island continent during most of the period of angiosperm evolution, whereas Central America constitutes one of the two tropical parts of the Laurasian world continent. Both South America and North America have been moving westward, roughly in tandem, since the breakup of Pangaea in the Mesozoic. We will write a custom essay sample on South America specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on South America specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on South America specifically for you FOR ONLY $16.38 $13.9/page Hire Writer In contrast, the Antillean plate with its flotsam of Antillean islands formed only during the Cenozoic and has moved in a retrograde eastern direction, at least with respect to its larger neighbours. Whereas South America and North America have been widely separated through most of their geological histories, there has been generally increasing contact between them through most of the Cenozoic, culminating in their coalescence with formation of the Isthmus of Panama c. 3. 1 million years ago (Keigwin 1978). The date of this epochal event in neotropical geological history has been gradually estimated to be younger, with estimates of 5. 7 million years ago giving way to as recently as 1. 8 million years ago (Keller, Zenker and Stone 1989). In addition to their Pleistocene connection via the Isthmus of Panama, South America and North America apparently were more or less directly interconnected via the protoAntilles for a short time near the end of the Cretaceous, prior to formation of the Caribbean plate (Buskirk 1992). The outstanding geological feature of South America is the Andes, the longest mountain range in the world, which extends in a nearly straight line of over 7000 km from the north to the southern tip of the continent. The Andes have the highest mountain in the Western Hemisphere, the highest mountain in the worlds tropics, and as measured from the centre of the Earth (rather than metres above sea-level), the highest mountain in the world. The most important break in the north-south sweep of the cordillera is the Huancabamba Depression in northern Peru, where the eastern chain of the cordillera is entirely ruptured (by the Maranon River) and even the western chain dips to 2145 m (at the Abra de Porculla). The existence of this massive mountain range has had profound effects on plant and animal evolution in South America, and consequently has profound effects on essential conservation priorities. In essence, the Andes represent a classical plate tectonic upthrust of continental rock, as the leading edge of the westward-moving South American plate collides with the oceanic Pacific plates. The Southern Andes are the oldest, with significant uplift already present in early Cenozoic times, prior to the Oligocene. Most of the uplift of the Central Andes was in the Miocene or later, whereas most of the uplift of the northern portion of the cordillera has been Plio-Pleistocene (van der Hammen 1974). To the north the Andes become more geologically complex, breaking into three separate cordilleras on the Ecuador/Colombia border. Much of the north-western margin of South America, including Colombias western and central cordilleras, appears to be amassed suspect terrane rather than an integral part of the South American continental plate (Juteau  et al. 1977; McCourt, Aspden and Brook 1984). Much of the rest of the South American continent consists of two great crystalline shields that represent the western portion of what was once Gondwanaland. The north-eastern portion of the continent constitutes the Guayana Shield, whereas much of Brazil south of Amazonia is underlain by the Brazilian Shield. These two major shields were formerly interconnected across what is today the Lower Amazon. They consist of a Precambrian igneous basement overlain by ancient mucheroded Precambrian sediments. The Guayana region has been the most heavily eroded, with basement elevations mostly below 500 m interrupted by massive flattopped table mountains, the fabled tepuis, typically rising to 2000 m or 2500 m. The peak of the highest of these, Cerro Neblina or Pico da Neblina on the Venezuela/Brazil border, reaches an altitude of 3015 m and is the highest point in South America outside the Andes. The tepuis and similar formations are highest and most extensive in southern Venezuela, becoming smaller and more isolated to the west and east where La Macarena near the base of the Andes in Colombia and the Inini-Camopi Range in French Guiana respectively represent their ultimate vestiges. The quartzite and sandstone of the Guayana Shield erode into nutrient-poor sands, and much of the Guayana region is characterized by extreme impoverishment of soils. The rivers draining this region are largely very acidic blackwater rivers, of which the Rio Negro is the most famous. The Brazilian Shield is generally higher and less dissected, with much of central Brazil having an elevation of 800-1000 m. The Brazilian Shield is mostly drained by clearwater rivers such as the Tapajos and Xingu. In contrast to these ancient shields, the Amazonian heartland of South America is low and geologically young. Prior to the Miocene most of Amazonia constituted a large inland sea opening to the Pacific. With uplift of the Central Andes, this sea became a giant lake that gradually filled with Andean sediments. When the Amazon River broke through the narrow connection between the Guayanan and Brazilian shields near Santarem, Brazil, Amazonia began to drain eastward into the Atlantic. Nevertheless, the region remains so flat that ocean-going ships can reach Iquitos, Peru, which is only 110 m above sea-level, yet 3000 km from the mouth of the Amazon and less than 800 km from the Pacific Ocean. Most of Amazonian Ecuador, Peru and Bolivia is below 200 m in elevation. The process of Amazonian sedimentation is continuing, as the sediment-laden white-water rivers course down from the Andes, continually changing their channels and depositing and redepositing their sediments along the way. About 26% of Peruvian Amazonia shows direct evidence of recent riverine reworking (Salo  et al. 1986). With the lack of relief, it is not surprising that rather fine nuances of drainage, topography and depositional history are often major determinants of vegetation. Like Amazonia, some other distinctive geological features of the South American continent are relatively low, flat and geologically young, such as the chaco/pantanal/pampa region to the south, the Venezuelan/Colombian Llanos to the north and the trans-Andean Choco region of Colombia and Ecuador to the west. Large portions of these areas have been inundated during periods of high sea-level in the past, and large portions of all of these regions are seasonally inundated presently. One aspect of the geological history of Latin America that has received much biogeographic attention is the series of Pleistocene climatic fluctuations and their effects on distribution and evolution of the present neotropical biota. It is clear from the palynological record that major changes in vegetation were associated with the cycles of Pleistocene glaciation (e. . van der Hammen 1974), although to what extent lowland Amazonia was predominantly drier (e. g. Haffer 1969; van der Hammen 1974), colder (Colinvaux 1987; Liu and Colinvaux 1988) or both, and how this affected the Pleistocene distribution of tropical forest, remain hotly contested (Colinvaux 1987; Rasanen, Salo and Kalliola 1991). Although most of the corroborative geomorphological evidence for dry periods in the tropical lowlands during the Pleist ocene is now otherwise interpreted (Irion 1989; Colinvaux 1987), some new data look promising. There are also several other theories that attempt to explain aspects of present biogeography on the basis of past geological events, including river-channel formation and migration (Capparella 1988; Salo  et al. 1986; Salo and Rasanen 1989), hypothesized massive flooding in south-western Amazonia (Campbell and Frailey 1984), and the formation of a putative giant Pleistocene lake in Amazonia (Frailey  et al. 1988). Mesoamerica For its size, Middle America is even more complex geologically than South America (see Central America regional overview). Nuclear Central America, an integral part of the North American continent, reaches south to central Nicaragua. The region from southern Nicaragua to the isthmus of Darien in Panama is geologically younger and presents recent volcanism, uplift and associated sedimentation. Like South America, the northern neotropics have a mountainous spine that breaks into separate cordilleras in the north. In general the Middle American cordilleras are highest to the north in Mexico, and lowest in Panama to the south-east. In Mexico, the geological picture is complicated by a band of volcanoes that bisects the continent from east to west at the latitude of Mexico City. This eje volcanico transversal is associated with the Mexican megashear, along which the southern half of the country has gradually moved eastward with respect to the northern half. In southern Central America, volcanism has been most intensive in Costa Rica, which has two sections of its Central Cordillera reaching above treeline. In northern Costa Rica and adjacent Nicaragua the volcanoes become gradually reduced in size and more isolated from each other to the north. Similarly in Panama the Central Cordillera is over 2000 m high to the west near the Costa Rican border but only about 500 m high in most of the eastern part of the country. In central Panama, the Panama Canal cuts through a continental divide of only 100 m elevation, and in the San Juan River/Lake Nicaragua area of Nicaragua the maximum elevation is even less. For montane organisms, these interruptions in the cordillera represent major biological discontinuities. The Yucatan Peninsula area of Mexico, Guatemala and Belize represents a geologically anomalous portion of Middle America. It is a flat limestone formation more like the Greater Antilles or Peninsular Florida than the mountainous terrain and volcanic soil of most of Middle America. Limestone is otherwise relatively rare in the continental neotropics, in contrast to many other parts of the world, with small outcrops like those in the Madden Lake region of central Panama or the Coloso area of northern Colombia being associated with peculiar floras. These areas, like the Yucatan Peninsula, tend to show distinctly Antillean floristic affinities, paralleling the geological ones. Caribbean The Antillean islands constitute the third geologic unit of the neotropics (see Caribbean Islands regional overview). The Antilles make up in geological complexity what they lack in size. The most striking geological anomaly is Hispaniola, which is a composite of what were three separate islands during much of the Cenozoic. In addition to being completely submerged during part of the midCenozoic, the southern peninsula of Hispaniola was probably attached to Cuba instead of Hispaniola until the end of the Cenozoic. Jamaica too was completely submerged during much of the mid-Cenozoic, and has a different geological history from the rest of the Greater Antilles, with closer connections to Central America via the nowsubmerged Nicaraguan Rise. Possibly a collision of the western end of the Greater Antilles island arc with Mexico-Guatemala fragmented its western end to form Jamaica. Also phytogeographically and conservationally important, some of the Antilles have extensive areas of distinctive substrates. In addition to large areas of limestone, most of the Greater Antilles (Cuba, Hispaniola, Puerto Rico) have significant areas of serpentine and other ultrabasic rocks formed from uplift of patches of oceanic crust during the north-eastward movement of the Caribbean plate. The Lesser Antilles are small and actively volcanic. Most of the other smaller islands are low limestone keys with little or no geological relief. These patterns are clearly reflected in the Antillean flora. The most striking concentrations of local endemism occur in areas of ultrabasic rocks or on unusual types of limestone on the larger islands. The Lesser Antilles, Bahamas and other smaller islands have only a depauperate subset of the generally most widespread Antillean taxa. Vegetation The neotropics include a broad array of vegetation types commensurate with their ecological diversity. Along the west coast of South America are both one of the wettest places in the world Tutunendo in the Choco region of Colombia, with 11,770 mm of annual precipitation, and the driest no rain has been recorded in parts of the Atacama Desert of Chile. The largest tract of rain forest in the world is in the Amazon Basin, and Amazonia has received a perhaps disproportionate share of the worlds conservation attention. While the forests of Upper Amazonia are the most diverse in the world for many kinds of organisms, including trees as well as butterflies, amphibians, reptiles, birds and mammals, other vegetation types have equal or greater concentrations of local endemism and are more acutely threatened. In particular, the plight of dry forests and of Andean montane forests are beginning to receive increased attention. Some isolated areas of lowland moist forest outside of Amazonia also have highly endemic floras and are currently much more threatened than Amazonia. In the following paragraphs are sketched the major neotropical vegetation types, followed by a conservation assessment of each. At the very broadest level, the lowland vegetation types of South America and the rest of the neotropics may be summarized as: 1. Tropical moist forest (evergreen or semi-evergreen rain forest)  in Amazonia, the coastal region of Brazil, the Choco and the lower Magdalena Valley, and along the Atlantic coast of Central America to Mexico. 2. Dry forest (intergrading into woodland)  along the Pacific side of Mexico and Central America, in northern Colombia and Venezuela, coastal Ecuador and adjacent Peru, the Velasco area (Chiquitania) of eastern Bolivia, a broad swath from north-west Argentina to north-east Brazil encompassing chaco, cerrado and caatinga, and with scattered smaller patches elsewhere. 3. Open grassy savanna  in the pampas region of north-eastern Argentina and adjacent Uruguay and southernmost Brazil, the Llanos de Mojos and adjacent pantanal of Bolivia and Brazil, the Llanos of Colombia and Venezuela, and the Gran Sabana and Sipaliwini savanna in the Guayana region. 4. Desert and arid steppe  in northern Mexico, the dry Sechura and Atacama regions along the west coast of South America between 5 °S and 30 °S, and in the monte and Patagonian steppes of the south-eastern part of the Southern Cone of South America. 5. The  Mediterranean-climate region  of central Chile. 6. The  temperate evergreen forests  of southern Chile with an adjacent fringe of Argentina. More complex montane formations occur along the Andean Cordillera which stretches the length of the western periphery of South America, in the more interrupted Central American/Mexican cordilleran system, in the tepuis of the Guayana region and in the coastal cordillera of southern Brazil. Moist and wet forests In general, forests receiving more than 1600 mm (Gentry 1995) or 2000 mm (Holdridge 1967) of annual rainfall are evergreen or semi-evergreen and may be referred to as tropical moist forest. In the neotropics, lowland tropical moist forest is often further subdivided, following the Holdridge life-zone system, into moist forest (2000-4000 mm of precipitation annually), wet forest (4000-8000 mm) and pluvial forest (over 8000 mm). Nearly all of the Amazon Basin receives 2000 mm or more of annual rainfall and constitutes variants of the moist forest. There are also several major regions of lowland moist forest variously disjunct from the Amazonian core area. These include the region along the Atlantic coast of Central America (extending into Mexico), the lower Magdalena Valley of northern Colombia, the Choco egion along the Pacific coast of Colombia and northern Ecuador, and the coastal forests of Brazil. Lowland moist forest is the most diverse neotropical vegetation type, structurally as well as taxonomically. In most lowland moist-forest and wet-forest regions around a quarter of the species are vines and lianas, a quarter to a half terrestrial herbs (including weeds), up to a quarter vascular epiphytes and only about a quarter trees (Gentry and Dodson 1987; Gentry 1990b). To the extent that smaller organisms such as herbs and epiphytes may demand different conservation strategies than large organisms like trees (or top predators), this habitat diversity assumes conservation importance. Diversity patterns are also important for conservation planning. There is a strong correlation of plant community diversity with precipitation wetter forests generally are more botanically diverse. For plants the most speciesrich forests in the world are the aseasonal lowland moist and wet forests of Upper Amazonia and the Choco region. For plants over 2. 5 cm dbh in 0. 1-ha samples, world record sites are in the pluvial-forest area of the Colombian Choco (258-265 species); for plants over 10 cm dbh in 1-ha plots, the world record is near Iquitos, Peru (300 species out of 606 individual trees and lianas). Concentrations of endemism do not necessarily follow those of diversity. Local endemism appears to be concentrated in cloud-forest regions along the base of the northern Andes and in adjacent southern Central America (cf. Vazquez-Garcia 1995), and in the north-western sector of Amazonia where the substrate mosaic associated with sediments from the Guayana Shield is most complex (Gentry 1986a). Overall regional endemism in predominantly moist-forest areas is greatest in Amazonia, with an estimated 13,700 endemic species constituting 76% of the flora (Gentry 1992d). However many of these species are relatively widespread within Amazonia. The much more restricted (and devastated, see below) Mata Atlantica forests of coastal Brazil have almost three-quarters as many endemic species (c. 500) as Amazonia and similarly high endemism (73% of the flora) (Gentry 1992d). Moreover a larger proportion of the Mata Atlantica species probably are locally endemic. On the other side of South America, the trans-Andean very wet to wet and moist forests of the Choco and coastal Ecuador are also geographically isolated and highly endemic (cf. Terborgh and Winter 1982). Estimates of endemism in the Choco phytogeographic reg ion are c. 20% (Gentry 1982b). Probably about 1260 or 20% of western Ecuadors 6300 naturally occurring species also are endemic (Dodson and Gentry 1991). For the northern Andean region as a whole, including both the coastal lowlands of western Colombia and Ecuador and the adjacent uplands, Gentry (1992d) estimated over 8000 endemic species, constituting 56% of the flora. Moreover this is probably the floristically most poorly known part of the neotropics, perhaps of the world, surely with several thousand mostly endemic species awaiting discovery and description. Dry forests There are seven main areas of dry forest in the neotropics, and by some estimations this may be the most acutely threatened of all neotropical vegetations. The interior dry areas of South America are outstanding in their regional endemism, estimated at 73%. Two of the most extensive neotropical dry-forest areas represent manifestations of the standard interface between the subtropical high pressure desert areas and the moist equatorial tropics. In Middle America, this area of strongly seasonal climate occurs mostly along the Pacific coast in a narrow but formerly continuous band from Mexico to the Guanacaste region of north-western Costa Rica. There are also outliers farther south in the Terraba Valley of Costa Rica, Azuero Peninsula of Panama, and even around Garachine in the Darien (Panama), partially connecting the main Middle American dry forest with that of northern South America. These western Middle American dry forests are made up almost entirely of broadleaved deciduous species. In addition, the northern part of the Yucatan and large areas of the Antilles are covered by dry-forest variants. Most of the Caribbean dry forests are on limestone, and their woody species tend to be distinctively more sclerophyllous and smaller leaved than are the Pacific coast dry-forest plants. In the driest areas, both these types of dry forest tend to smaller stature and merge into various kinds of thorn-scrub matorral. In South America, only the extreme northern parts of Colombia and Venezuela reach far enough from the Equator to enter the strongly seasonal subtropical zone. Floristically and physiognomically this northern dry area is very much like similarly dry areas of western Middle America. The strongly seasonal region of northern South America also includes the open savannas of the Llanos extending from the Orinoco River west and north to the base of the Eastern Cordillera of he Colombian Andes and the north slope of the Coast Range of Venezuela. Large areas of the lowlying, often poorly drained Llanos are seasonally inundated, especially in the Apure region. The main area of tropical dry forest in South America is the chaco region, encompassing the western half of Paraguay and adjacent areas of Bolivia and Argentina, south of 17 °S latitude. The chaco is physiog nomically distinctive in being a dense scrubby vegetation of mostly smallleaved, spiny branched small trees interspersed with scattered large individuals of a few characteristic species of large trees. To the south, the chaco gives way to the desert scrub of the Argentine monte. There is a distinctive but generally neglected area of dry forest at the interface between the chaco and Amazonia in Bolivia. The names Chiquitania and Velasco forest have been used locally in Bolivia to refer to this vegetation, which extends from the Tucuvaca Valley and Serrania de Chiquitos in easternmost Santa Cruz Department interruptedly westward to the base of the Andes and along much of the lower Andean slopes of the southern half of Bolivia. This region of closed-canopy dry forest is physiognomically similar to that of western Central America, with tall broadleaved completely deciduous (caducifolious) trees. Although it has been locally regarded as merely representing the transition between the chaco and Amazonia, it is a floristically and physiognomically distinctive unit that should be accorded equivalent conservation importance to the other major dry-forest vegetation types (Gentry 1994). The chaco is adjoined to the north by two large and phytogeographically distinctive areas of dry forest, the cerrado and caatinga, which cover a small portion of easternmost Bolivia and most of the Brazilian Shield area of central and north-eastern Brazil. The typical vegetation of the cerrado region consists of wooded savanna with characteristically gnarled sclerophyllous-leaved trees with thick twisted branches and thick bark, widely enough separated to allow a ground cover of grass intermixed with a rich assortment of woody-rooted (xylopodial) subshrubs. The cerrado also includes areas where the trees form a nearly closed canopy (cerradao), and large open areas of grasses and subshrubs with no trees at all (campo limpio and campo rupestre). Although the cerrado is appropriately considered a kind of dry forest, some cerrado regions actually receive more rainfall than do adjacent forest regions; excess aluminium in the soil may be as important as the climate in determining its distribution. The even drier forest of the caatinga of north-eastern Brazil extends from an appropriately subtropical 17 °S latitude farther north to a surprisingly equatorial 3 °S. Why this region should have such low rainfall remains poorly understood. Another climatic peculiarity is the irregularity of its rainfall, not only with low annual precipitation, but also with frequent years when the rains fail almost completely. The typical vegetation of the caatinga relatively low, dense, small-leaved and completely deciduous in the dry season is physiognomically similar to that of the chaco. The final major South American dry-forest area is the coastal forest of north-western Peru and south-western Ecuador. Even more anomalous in its geographical setting than the caatinga, this dry-forest region is positioned almost on the Equator. The occurrence of dry forest so near the Equator is due to the offshore Humboldt Current. While similar cold-water currents occur along mid-latitude western coasts of other continents, the Humboldt Current is perhaps the strongest of these and is the only cold current reaching so near the Equator. The dry forest of coastal Peru and adjacent Ecuador is (or at least was, see below) physiognomically similar to that of western Central America, tall with a closed canopy of broadleaved completely deciduous trees. There also are a number of scattered smaller patches of tropical dry forest and/or savanna in various interAndean valleys, around Tarapoto, Peru, the Trinidad region of Bolivia, Brazils Roraima area, the Surinam/Brazil border region, on Marajo Island, and in the pantanal region of the upper Paraguay River. Grasslands and deserts Grasslands and deserts occupy smaller areas of the neotropics than they do in Africa or most higher latitude continents. The main grassland region of the neotropics is the pampas region between about 39 °S and 28 °S and encompassing most of Uruguay as well as adjacent eastern Argentina and southernmost Brazil. The other major grassland area is the llanos region of Colombia and Venezuela. Smaller predominantly grassland regions occur in north-eastern Bolivia (Llanos de Mojos) and the south-eastern Guayana region (Gran Sabana and Sipaliwini savanna). There are also areas with few or no trees and dominated by grasses in the cerrado and pantanal regions of Brazil, and scattered outliers associated with local edaphic peculiarities elsewhere. None of the major grassland regions has many endemic species, in contrast to the campos rupestres of the Brazilian Shield and the Guayana area whitesand savannas, which have many endemics. This contrast is especially marked in southern Venezuela where some savanna patches have clay soils and a llanos-type flora of widespread species, whereas others have sandy soils and a flora of Amazonian affinities with many endemic species (Huber 1982). The desert regions of Latin America are confined to northern Mexico, the monte (Morello 1958; Orians and Solbrig 1977) and Patagonian steppes of Argentina, and the narrow Pacific coastal strip of northern Chile and Peru. The 3500-km long South American coastal desert is one of the most arid in the world most of it is largely devoid of vegetation. This region is saved from conservational obscurity, however, by the occurrence of islandlike patches of mostly herbaceous vegetation in places where steep coastal slopes are regularly bathed in winter fog. Although these lomas formations are individually not very rich in species (mostly fewer than 100 spp. ), they have a very high degree of endemism due to their insular nature. The overall lomas flora includes nearly 1000 species, mostly annuals or geophytes. Diversity and endemism in the lomas formations generally increase southward, where cacti and other succulents are also increasingly represented (Muller 1985; Rundel  et al. 991). Montane vegetation The main montane-forest area of the neotropics is associated with the Andes. A major but more interrupted montane-forest strip is associated with the mountainous backbone of Central America. Venezuelas Cordillera de la Costa phytogeographically is essentially an Andean extension, although geologically distinct from the Eastern Cordi llera of the Colombian Andes. The tepui summits of the Guayana Highlands, though small in area, constitute a highly distinctive and phytogeographically fascinating montane environment. The Serra do Mar along Brazils south-eastern coast is mostly low elevation but has a few peaks reaching above treeline with a depauperate paramo-like vegetation. The Andes may be conveniently recognized in three segments: northern Venezuela, Colombia and Ecuador; central-Peru and Bolivia; and southern-Chile and Argentina. In general the northern Andes are wetter, the central and southern regions drier. The main biogeographic discontinuity in the Andean forests is associated with the Huancabamba Depression in northern Peru, where the extensive system of dry interAndean valleys of the Maranon River and its tributaries entirely bisects the Eastern Cordillera and is associated with a topographically complex region having unusually high local endemism. Treeline in the tropical Andes occurs around 3500 m, depending on latitude and local factors. Above treeline, the wet grass-dominated vegetation of the Venezuelan, Colombian and northern Ecuadorian Andes is termed paramo; this drier vegetation, occurring from Peru to Argentina and Chile, is the puna. Colombian and Venezuelan paramos are characterized by  Espeletia  (Compositae) with its typical pachycaul-rosette growth form. The vegetation above treeline of most of Ecuador and northernmost Peru, locally called jalca in Peru, is ecologically as well as geographically intermediate; although generally called paramo in Ecuador, this region lacks the definitive  Espeletia  aspect of the typical northern paramos. While individual high-Andean plant communities are not very rich in species, many different communities can occur in close proximity in broken montane terrain. Thus the se

Impact of U.N. Global Compact on Employment Practices in Gap Inc.

Table of Contents Introduction Stakeholders Lessons Learned Recommendations Conclusion Bibliography Footnotes Introduction Gap Inc. is a retail company that deals with clothing and related accessories. The company was founded in California in the year 1969 and it has expanded to other parts of the world. The major brands for the company are namesake Gap banner, banana republic, old navy and Athleta among others.Advertising We will write a custom report sample on Impact of U.N. Global Compact on Employment Practices in Gap Inc. specifically for you for only $16.05 $11/page Learn More The company has more than 140,000 employees and it has many operating stores in and outside the United States of America. The company has had several labor disputes and allegations of bad practices therefore it is important to review its operations with regard to the U.N. Global compact principles.[1] This report will show the lessons Gap Inc can learn from the implementa tion of U. N. Compact principles by Army Navy, which is a competitor to Gap Inc. The U.N. Global compact principles are guidelines developed in order to provide a common understanding of labor issues and give principles to address the labor issues all over the world. These ten U.N. Global Compact principles were developed by the Labor working Group established in 2008. They were developed under extensive consultations with the International Labor Organization.[2] The two principles, which will be discussed in this report, are the Principle 2 and Principle 3. Principle 2 states, â€Å"Businesses should make sure they are not complicit in human rights abuses†[3]. Principle 3 states, â€Å"Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining.†[4] These principles are relevant to Gap Inc. The company is an international organization since it has many stores in many parts of the world. Over the past, the co mpany has been implicated in several violations of human rights in their employment practices. For instance, the company was sued in 2003 for failing to pay their workers their overtime dues and poor working conditions, which are tantamount to violation of human rights. The company has been struggling to effect policies that could help it to improve on human practices. The U.N. Global Practices are therefore very useful to the company.[5] Stakeholders The two U.N. Global Compact principles discussed above affects almost all the stakeholders in an organization. The most affected stakeholders are the customers, employees and the management. The employees are the most affected of the others. The two principles seek to promote labor practices in businesses that are why employees are most affected. Managers are the ones who are responsible for implementing the principles. It is therefore the duty of the managers to ensure that the organization follows the laid down principles.[6] The oth er group of stakeholders affected by these guidelines is the customers. This is because the principles provide against violation of human rights and provides for freedom of association[7]. These principles affect the performance of GAP Inc. both positively and negatively. Compliance with the principles will need some restructuring which will be costly to the organization. After the implementation however, the performance of the company will improve.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Lessons Learned The lessons will be derived from the implementation of the U. N. Global Compat principles by Army and Navy Stores Inc. In order to comply with the Principle 2 and Principle 3 of the U.N. Global Compact, Army Navy Stores Inc has taken some steps from which Gap Inc can learn some lessons. One of the steps is to assess the effect of the activities of the company on human relations an d also to assess its employee decisions. This has enabled the company to improve on its efforts to respect human rights and enhance freedom of association of the employees. As a result, Army Navy stores has been able to increase its productivity since the employees are more motivated. Gap Inc. has learnt the need to assess its practices in order to know any cases of violation of human rights and to know whether the company has prevented freedom of association. From these assessments, the company came to an understanding that there were many cases of human rights violations in the company by the employees, security personnel and even the management. The company had also been making efforts to suppress freedom of association for employees. Because of these actions, the employees of the company were not motivated and their productivity was down. After this, the company has decided to set out clear guidelines on how to adhere to the U.N. Global Compact principles. Up to today, there ha s been no official report on the progress of the process of setting out the guidelines. This has a negative effect to the company since many customers and other stakeholders are not contended with the first step.[8] Recommendations There is need for Gap Inc. to step up its actions to ensure compliance with the U.N. Global Compact principles. In order to comply with Principle 2 on violation of human rights, after assessment of the human rights situation in the company, Gap Inc. should develop and promote policies aimed at ensuring respect of human rights. These policies should be communicated to all stakeholders and posted to all work situations. Gap Inc. should also adhere to any other provisions on human rights such as those by the International Labor Organization (ILO) and other legal provisions. The company should also interact freely with the stakeholders in order to get suggestions and support in upholding human rights in the company.[9] In order to adhere to Principle 3 on fre edom of association, Gap Inc. should encourage its employees to form trade unions in order to enhance their bargaining power. The company should involve the trade union in major decisions and there should be extensive consultations between the company and the trade union in the course of its decision making process.[10]Advertising We will write a custom report sample on Impact of U.N. Global Compact on Employment Practices in Gap Inc. specifically for you for only $16.05 $11/page Learn More The company should ensure adequate representation of employees in the bargaining table and uphold respect for the trade union. The company should preserve the secrets of the trade union and keep distance from the operations of the trade union. By doing so, the company will have ensured full compliance with the two principles of U.N. Global Compact. Full compliance with the guidelines will have several benefits to the concerned stakeholders. To the employees, they wil l have better working conditions and they will be in a good position to bargain for better salaries and better working conditions. The management’s role will be made easier since the employees and other stakeholders will be satisfied and will thus give the management amble time.[11] In order to combat these risks, I would recommend that Gap Inc. should conduct seminars in order to sensitize employees on the changes, their advantages and the risks associated.[12] Conclusion Labor practices around the world have become difficult to manage due to globalization, increasing competition, increase in human rights activism among other factors. This was the prime reason for the development of the 10 principles by the United Nations in 2008. These principles have both negative and positive implications to business organizations. Most organizations have not managed to implement the policies full. For instance, Gap Inc. has a long way to go despite the fact that the company needs the pri nciples guidelines badly to avoid labor issues it had over the past[13]. The benefits of compliance with the principles are many as compared to the associated risks therefore I really encourage the management of Gap Inc. to take the recommendations seriously. Bibliography Cayreyre, Mireille, Filiz Demirayak and Paul Dickson. Global Compact International Yearbook 2009. Geneva: United Nations Publications, 2009. Davila, Anabella. Best human resource management practices in Latin America. London: Taylor Francis, 2009.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Dunning, John and Sarianna Lundan. Multinational enterprises and the global economy. Cheltenham: Edward Edgar Publishing, 2008. Gregoratti, Catia. The UN Global Compact. London: Taylor Francis, 2010. Idowu, Samuel and Celine Louche. Theory and Practice of Corporate Social Responsibility. New Jersey: Springer, 2010. ILO. â€Å"The labour principles of the united nations Global Compact, A guide for business†. Geneva: International Labour Organization: 2008. Web. ILO. The cost of coercion: global report under the follow-up to the ILO Declaration on Fundamental Principles and Rights at Work: International Labour Conference, 98th Session 2009. Geneva: International Labour Organization, 2009. Lawler, John and Greg Hundley. The global diffusion of human resource practices: institutional and cultural limits. Bingley: Emerald Group Publishing, 2008 Pattanaik, Kumar. Human rights and business: perspectives and practices. New Delhi: Icfai University Press, 2008. Perkins, Stephen and Su san Shortland. Strategic international human resource management: choices and consequences in multinational people management. Philadelphia: Kogan Page Publishers, 2006. Rasche, Andreas and Georg Kell. The United Nations Global Compact: Achievements, Trends and Challenges. Cambridge: Cambridge University Press, 2010. United Nations, Global Compact Principle three. United Nations Global Compact, 2009. Web. United Nations, Global Compact Principle two. United Nations Global Compact, 2011.   Web. United Nations. Human Rights Translated: A Business Reference Guide. Geneva: United Nations Publications, 2008. Footnotes ILO. â€Å"The labor principles of the united nations Global Compact, A guide for business†. (Geneva: International Labor Organization: 2008). Catia Gregoratti. The UN Global Compact. London: Taylor Francis, 2010, p. 26. United Nations, Global Compact Principle three. United Nations Global Compact, August 14th 2009. United Nations, Global Compact Principle two. U nited Nations Global Compact, January 10th 2011. John Dunning and Lundan Sarianna. Multinational enterprises and the global economy. Cheltenham: Edward Edgar Publishing, 2008, 133. ILO. The cost of coercion: global report under the follow-up to the ILO Declaration on Fundamental Principles and Rights at Work: International Labour Conference, 98th Session 2009. Geneva: International Labour Organization, 2009, p. 214. United Nations. Human Rights Translated: A Business Reference Guide. Geneva: United Nations Publications, 2008, p. 156. Andreas Rasche and Kell Georg. The United Nations Global Compact: Achievements, Trends and Challenges. Cambridge: Cambridge University Press, 2010, p. 93. John Lawler and Greg Hundley. The global diffusion of human resource practices: institutional and cultural limits. Bingley: Emerald Group Publishing, 2008, p. 103. Kumar Pattanaik. Human rights and business: perspectives and practices. New Delhi: Icfai University Press, 2008, p. 57. Stephen Perkins an d Shortland Susan. Strategic international human resource management: choices and consequences in multinational people management. Philadelphia: Kogan Page Publishers, 2006, p. 291. Mireille Cayreyre, Demirayak Filiz and Dickson Paul. Global Compact International Yearbook 2009. Geneva: United Nations Publications, 2009, p. 212. Anabella, David. Best human resource management practices in Latin America. London: Taylor Francis, 2009, p. 33. This report on Impact of U.N. Global Compact on Employment Practices in Gap Inc. was written and submitted by user Nora Ewing to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.