Is Nike more than it meets the eye?

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Nike. Just do it. Ask anyone of age ten and above whether they ever hear of this brand and its slogan, they will give you a definite yes! Nike is one of the top sneaker competitors out there. Today people who buy Nike not just walk in them but also wear them. Its blooming business is so successful that even some companies try to imitate them. They use the all so famous slogans on their products in hope of people will mistaken it for the real products and boast the sale. Why is Nike so popular? Why is Nike such a common household name? Is Nike a trend? What is behind their success? Is it because of its advertising techniques? Or is it because of its packaging? In this project, we are determined to find out the success behind Nike. We also hope to present an overall view of the public response towards Nike in terms of the quality, price, advertisements techniques and durability. We would also like to draw the public's attention towards its advertisement techniques so that we can follow those techniques to help boast our local brands' sale local and worldwide. First and foremost, we would like to start off with a brief introduction of the history of Nike. (Taken from www.Nike.com)

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From our research, Nike is founded way back in 158 by a man called Phil Knight. Initially, Nike only started off making sneakers for track runners. In 168, Phil Knight and his coach Bill Bowerman discussed about making better quality running shoes and were manufactured by Itsuka Tiger. They then named their company to Nike after the Greek goddess of victory invoked by the legendary marathon runner. In 17, Nike broke with its Japanese manufacturer because of disputes over distribution rights. In 175, Bill Bowerman came up with a good idea. Looking at his wife's shoes, he came up with putting some rubber in the compound, made rubber waffles, cut them and put them together to the bottom of the shoes. He then lent them to some of his athletes and they were very satisfied. These creative shoes in the 170s made Nike the leading big sport company. Nike and Reebok were competing on the same level until Michael Jordan came along. Nike came up with a pair of shoes called the 'Air Jordan', which were worn by Jordan in the NBA court. However, they were illegal because of its colors, red and black which were not allowed. Michael paid a fee of a thousand per game, but kept on wearing Air Jordan. Due to all those attention, Nike's sales rose from $870 million to a more then $4 billion per year. Our group feels that the history of Nike has very much played a huge role to their success. Nike has come a long way since 158. Almost 50 years later, kids all over the world know Nike's slogan and stories. Despite all the huge profits, Nike has to take a closer look at its factories which brought up many problems. The following is an extract from an issue of the Campaign for Labor Rights newsletter. " My first thought, as I held those shoes in my hands, was pride at how well-made they were and that I had a part in making such fine shoes. And then I put them on my feet. They felt so good! Four years I worked in the factory, and until now I never had a pair of Nikes on my feet. We could not even think of buying them at the wages we received. And then I was very sad when I thought of the conditions under which they were made. And angry." To purchase a pair of the shoes she makes, a Nike worker would have to devote every penny from two to three months of her paychecks. (extracted from the current issue of the Campaign for Labor Rights newsletter.) From the passage from above, this is the overall feeling of the workers at the Nike factories. There is also a growing movement of criticizing Nike for underpaying workers in the Asian factories. Nike pays workers in China and Vietnam less than two dollars a day and workers in Indonesia less than a dollar a day. Even though the cost of living is much lower in these countries, critics say workers need to make at least three dollars a day to achieve adequate living standards. Secondly, in an inspection report that was prepared in January for the company's internal use, Ernst & Young wrote that workers at the factory near Ho Chi Minh City were exposed to carcinogens that exceeded local legal standards by 177 times in parts of the plant and that 77 percent of the employees suffered from respiratory problems. Before we started doing this project, we did not know the dangers workers face in those Nike factories. We were shocked. Therefore we feel that most likely more than half of the public does not know of these situations. Will the public buy less of Nike products if they are aware of this? Therefore, in the later part of this report we have asked the public for their response. Initially, we had difficulties gathering information about Nike. The only source we had was from the internet. We searched National libraries for books on Nike but to no avail. We searched magazines such as Times and Newsweek for articles on anything, which has to do with Nike, but we could not find any. However, we are able to find several advertisements on Nike products on several magazines such as local TEENS, teenage, CLEO, FLIRT, Times and Newsweek. Nike advertisements are not just local but global. On TEENS, September 1, we could see advertisement which Nike first ventured in making of school shoes. Accompanied the school shoes were Nike bags, socks, water bottles. The most recent ones featured football which promotes the just over World Cup 00. Its theme is scorpion where soccer famous stars play the game in an enclosed cage. It is also featured on television a series of the followed up 'enclosed cage games' and the soccer stars were seen kicking the balls with excellent styles. To further promote this event, the organizers have also organised a 4 on 4-soccer match where players also get to play in an enclosed cage as seen on television. When we were searching articles online, we found several anti-Nike websites, which were created by anonymous. Therefore, we were very selective in choosing the information we wanted but we made sure we read through the articles in most of the websites so we could get a brief idea of what most people who created those websites feel. To have a more thorough project, we not only need views from online users but also the public in general. We also encountered many problems in the process. Initially, our group had a total of four members, but one of our members decided to leave for the polytechnic. Though he contributed quite a lot to our project, we felt at quite a lost. We felt that we could not do as well as the other groups due to the lack of manpower. Although we were discouraged, we continued to do whatever we can to complete the project as best as we can. Firstly, we did not have meetings regularly to discuss about the project details and were rather slow compared to other groups who met up at least twice a week. We did not know how to go about doing it and was quite lost. The communication within the group was not good and had problems communicating with each other, trying to get our point across. We were afraid to open up and bring out our comments and points of view. Not knowing our group members well, we did not know each other's strengths and weaknesses. This made is difficult for us to divide the work. However, we did most of the work, for example the planning of survey questions and the survey itself together as a team. Only until did we get to know each other better, we then split the work to be done individually. For example, the report drafts are planned, typed and edited by each and different group members. Our time management was also quite poor as we did the work last minute. Due to the lack of manpower, the work to be done by each member increased and we had difficulty completing our tasks. Juggling school work and project work was difficult.But despite of all these, we still tried our best to complete our individual part so that the other group members who are waiting for our part could go on with doing what he or she needed. It was difficult for us to meet due to our busy schedules and strict parents. However we made use of whatever time we could like after schools on the shorts days we have at the end of the week. We stayed back in school to discuss about the project and how to go about doing it. Then we divided the work and the rest was done at home. We would then compile what we have done at our next meeting. Looking at other group's work, we felt a little discouraged at the nearly perfect work they could produce in contrast to ours. But even with all these disparities, we were determined to do our best. Encouraging each other along the way, we managed to make it so far and we have the confidence to carry on. In our survey, we targeted the public of age group 17 1. We managed to get a total of 0 males and 0 females to complete our survey. They were of different races though the number of Chinese exceeded the number of Malays, Indians and Eurasians. Thus, we went to two different places to try to get the range of people we required. First, we did our survey at Orchard Road but we found that the race of the people was rather limited. We then decided to go to Clementi Bus Interchange for a wider range. The target was met. In total, we surveyed about 60 people. We aimed to find out more about their views towards Nike and its products and why many people prefer to purchase Nike products. We were interested to know whether they were aware of what they were purchasing and the cost of it. The whole survey was done twice as we realized that the survey done the first time did not meet the requirement of what was needed for our report. The second survey done was quite a success since we managed to ask specific questions and get the information we needed. Firstly, we found out that most of these teenagers at least own one Nike product. The percentage who owned at least one Nike product was 7%. However, it varies from the type of product, example shoes, bags, sports attire, etc. Majority chose to purchase shoes which was about 7% of the overall. This shows that of all the products that Nike sell, shoes are the most sellable, since shoes were the very first product that was manufactured. We can say that many of them are just following the trend that people set when Nike was in fashion quite a few years ago. Ever since then, people have been supporting Nike regardless of the increase in prices. This popularity can be due to either the quality that Nike provides or simply the trend that people are following blindly. Though some are aware of the cost price of the product and acknowledge that Nike is overcharging, they are still willing to pay a range of $101 - $150 (fig. 1) for products such as shoes. Of all the options that were given, only 6% chose the range of $50 - $100, and the other 4% chose $101 - $150 as their ideal price. None selected the ranges of $151 - $00, $01 - $50 and more than $50. They think that it is only worth paying such a price for the products. From this, we can tell that Nike has made an impact in the society, especially among the teenagers. Nike is able to influence teenagers in such a way that the latter is willing to pay over a hundred dollars when the cost price of the products is much less than that. However, if people are buying Nike products for its quality, then why are they so unwilling to pay a higher amount for such quality products that they require? We can assume that because they are just merely following the trend that they buy the products not simply for their quality. Otherwise, the reasonable price that they would pay would be higher. Many use these products everyday (fig. ) which shows that around 5% utilized the products once a week and the remaining 75% everyday. We also gave them the options of once every two weeks, once a month, once every six months, once a year ans more than once a year but none had any response. They claim that the products have an average lifespan of 6 months to a year (fig. ). 10% said that their product only lasts for six months, 7% said theirs lasted for one year and 17% said theirs lasted for two years. Most probably those whom which products lasted for two years did not use it as often as those who utilized theirs everyday. But, they are still willing to continue purchasing the product at such a high price. Curious, we decided to ask further. We went round to different Nike shops, recording down the prices of various products. We found out that most of the shops sell them for almost the same price, except for a few which differed by at most a few dollars. The shops had something in common. The way they advertised the Nike goods and the layout of the products were more or less alike. Shoes were mostly displayed on the side panel, allowing passer-bys to view them without entering the shop. Sports attire were hung on racks, categorized by the type of sport they were designed for. Although the public agreed that the quality of Nike products were good, many think that the prices of the products are not reasonable (fig. 4). % of the surveyed public agreed saying that the prices are reasonable and another 67% disagreed. They voiced that in order for Nike to improve their sales, they needed to further improve their quality so that more people will be enticed to purchased them. In this way, people will feel that they are getting their money's worth and would not mind paying more in exchange for better quality products. However, if many think that the quality of Nike's products needs improvement, then why do they support and purchase Nike, paying that high price for a product which they think is not of quality? We can thus conclude that they are actually buying these Nike products for the trend and not for the product itself. We also asked them what makes Nike stand out from the other sporting brands like Addidas and Reebok for example. They said that the design was outstanding and with new ideas being put forward constantly, they feel that Nike is more trendy. There was a example given about being able to design our own Nike shoes abroad and they will try their best to manufacture the shoe of your desire. This attracted many people who wanted to personalize their own shoes so that they were unique. Nike has also spent a lot of time and effort on advertising their products, making it known to people around the world. The most attractive advertisements that attracted the public's attention are the advertisements on television and on the posters around town. Through these, they allow people to be aware of their products and we can say that so far, Nike has succeeded. Nike has made significant changes over the past few years with all their innovations and different designs that their sales has risen tremendously throughout the few years. Especially with the low cost of labor, the profits of the products are much higher. After getting results from our survey and also on our research, we found out that Nike is selling well in almost all the companies, such as World Of Sports and Royal Sporting House, and also shops that sell Nike shoes and their accessories. Most of these companies and shops in Singapore are earning much money from it. Due to the incoming of more latest and better Nike products, all these companies and shops will import more goods to sell to the public in order to make more money. However, maybe these companies and shops can have a better way of improving their sales on Nike products. Advertising on the products is one of the essential methods to attract or convince the world how useful their products are. Advertising on television, radio, magazines and newspapers will attract people greatly due to the powerful influence from the mass media. The Nike Company will get sports superstars, such as Ronaldo who is a famous soccer player, Tiger Woods who is a professional golfer and a millionaire, and also Kobe Bryan, a well-known basketball player in the United State Of America. They will either shoot in an advertisement on the television or pose in a magazine with the Nike products, telling the world how useful and cool their products are. Besides advertising, another way of improving their sale is having discounts on their products. They can give a small discount for there customers in order to gain their trusts. So, they will go back to the same place to buy Nike products, improving the sale in that company or shop. They can also have a big sale, which definitely can attract many people who is willing to fork out money to buy the latest Nike products although there is not much difference between the original cost price and the selling price. Hence, all these companies and shops will earn more profits in this way instead. Giving away a small free gift, such as whenever a customer has bought a Nike product also will be good idea of convincing people to buy Nike products. This type of method will attract more people to visit the shops and so, more people will buy more Nike products that will increase the sale naturally. So, we can see that with the help of these methods of selling the Nike products in Royal Sporting House or World Of Sports and other shops, Nike products are selling well. In this case, the Nike Company will be earning more money from it when companies, like Royal Sporting House or World Of Sports and other shops will try to get more goods from the Nike Company whenever there is a new and the latest product coming out in the market. From this, we can see that many people buy the products not because of Nike's true quality but because of the trend that in going on. They see people having Nike products and these people actually act as an unknown advertisement which more people are attracted to buy the products. Therefore, Nike is just a trend. In conclusion, we can see that Nike business is grooming & becoming better each year. Besides that, new products from Nike, such as shoes, clothes & other accessories are coming out in the market quite rapidly each time they have a new design. They will promote their new items through advertisements, like mass media. All these advertisements cost a bomb to them, inviting sport superstars to appear in the advertisements so as to attract people to buy their products. They still earn much profit although they spend a lot of money on the promotion of their new products. Hence, we can see that Nike will be still earning profits due to the support from the world. Although a few local shoe brands such as Pretty Fit and Urban and co. have made remarkable sales local and world wide, we find that they should have better advertising techniques and presentation. They advertise in magazines but in a typical way. Their advertisements are only of the shoes and nothing else. All their advertisements are the same. Yes, they even begin to expand world wide such as opening a few outlets in Malaysia, Thailand and Australia but we are sure that they will have better sales if they sponsor events as a form of advertising or have more innovative advertisements. If allow, they can even venture into employing stars to promote the goods for them! Please note that this sample paper on Is Nike more than it meets the eye? is for your review only. In order to eliminate any of the plagiarism issues, it is highly recommended that you do not use it for you own writing purposes. 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Citibank

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Running Head CITIGROUP, THE RED UMBRELLA Outline 1. About CitigroupA. Company Information

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I. HistoryII. WorldwideIII. CommunityIV. The reason for SuccessB. CareersI. Employee Programs. Citigroup's Businesses A. Our BusinessesI. CitibankII. Smith BarneyIII. Travelers Life &AnnuityIV. Primerica B. Financial HighlightsC. Global ConsumersD. Partners . Citigroup FoundationA. Financial EducationB. Educating the Next GenerationC. Building Communities4. Conclusion 5. Bibliography About CitigroupCompany InformationI. HistoryCitibanks origins go back to the early years of the American Republic. Samuel Osgood, a friend and associate of George Washington, founded its predecessor, the City Bank of New York, in 181. The Bank survived the social and economic upheavals of the early 1th century. In 1864, it was granted a national charter and its name was changed to The National City Bank of New York. In 155, when the First National Bank of the City of New York was merged into the National City Bank of New York, the name became The First National City Bank of New York. In 176, the present form of the Banks name, Citibank, was adopted for simplicity and convenience. The formation of Citigroup in 18 created a new model of financial services organization to serve its clients' financial needs. As the company continues to grow and evolve, it's increasingly evident that such a large, complex grouping of businesses can indeed succeed. With 70,000 employees working in more than 100 countries and territories, Citigroup's globality and diversity contribute to its continued success. (www.citibank.com).II. Worldwide Via expansion, standardization of product offerings, and advertising, Citigroup is trying to build a global retail brand in financial services products. A basic assumption is that the financial services needs of individuals are similar worldwide. Citigroup branch office and product offerings can be essentially standardized worldwideIII. Community Citibank takes leadership role partnering with community organizations to revitalize and strengthen the neighborhoods where it does businesses. The partners are as diverse as the people they serve, but all share the same common goal of building better communities. Citibank and its partners help create and implement innovative solutions to address the specific needs and concerns of different communities. Citibank accomplishes this throughout programs that support the development of affordable housing, childcare centers, health care facilities, and small business. Citibank also has a great program in education that gives young people the opportunity to expand their worldview. This is accomplished by the support of school to work programs, educational technology resources in the classroom and at home. In higher education, Citibank fund a number of programs that provide scholarships and fellowships for minorities and those who are financially disadvantage. Another important form of support is volunteerism. Citibank's employees work thousands of hours each year as a volunteer. They get involved through company-sponsored programs as well as through individual causes. IV. The Reason for Success Citibanks success is due in large measure to the dedication of its people-men and women recognized around the world for their professionalism and talents. Global diversity continues to drive the Banks activities. Personal integrity and respect for each individual are at the foundation of Citibanks philosophy. Consistent quality performance is at the base of continued global growth. Citibanks reputation is its most valuable institutional asset. As Citibank continue to expand in new environments where people of different cultures do business their way, its standard for business integrity and for personal respect is maintained and protected. Another important point is due to the fact that Citibank offers a truly global environment where employees are exposed to the ideas and perspectives of "Citibankers" from other countries, either through working with them locally or by serving on multinational and multifunctional client service teams. The resulting expansion of business, intellectual, and cultural horizons almost always enhances both professional and personal accomplishments. Those are the five core of Citibank's success (www.citibank.com) · Valuing Diversity and Individual Talents· Performance and Your Future· Continues Improvement Through Training and Experience· Commitment to People and their Development· Leadership DevelopmentCareers Citigroup brings together an incredible diversity of products and services, multiple distribution channels, the largest financial services firm, and capital strength that enables Citigroup not only to ride out economic storms but also to seize opportunities. Citigroup is the first financial services company in the United States to bring together banking, insurance and investments under one umbrella. There are approximately 50,000 thousand employees serving 00 million customers across six continents including brands such as Citibank, CitiFinancial, Primerica, Salomon Smith Barney, Banamex, Travelers Life and Annuity and much more. (www.ft.com).Citigroups combination of financial strength and broad product and geographic scope, provides an opportunity for outstanding professionals to more fully realize their potential. In seeking to serve clients and provide shareholder value, the highest priority is to focus on attracting outstanding people to Citigroup and providing them with a rewarding and fulfilling environment.Citigroup is a company for people who want to make a difference and who are honest, insightful and creative. Employees flourish in an environment of change, challenge and competition, working for a company with the highest standards of moral and ethical conduct, working to earn client trust, day in and day out.I. Employee Program Citigroup has about 50,000 employees across 100 countries with a variety of programs to challenge and improve their work careers such as (Citibank.com)· Training and Development, Citibank provides an array of technical and professional development employee training programs. The web-based learning programs empower employees to enhance their skills when they need it and on demand. Classroom training, self-paced learning accelerated learning paths, and multimedia delivery options are just a few of the learning channels available to employees advance in their career.· Benefits, Citigroup offers a wide variety of benefits and compensation programs to its employees to help them meet todays needs and prepare for the future. These programs include health and welfare, savings, and equity ownership. · Work/Life Balance, Citigroup offer several kinds of support to help employees succeed in their career and in their personal life. Citigroup offers back-up childcare to more employees than any other corporation in the world. (www.forbes.com). In the U.S., Canada and Puerto Rico, Citigroup offers a confidential service to provide practical solutions, information, referrals and resources on topics ranging from parenting, childcare, adoption, education, health and older adults to remodeling and repairing a home. Citigroup's Businesses Our BusinessesCitibank Found in more than 100 countries worldwide, Citibank delivers a wide array of banking, lending and investment services to individual consumers, as well as to small businesses with up to $10 million in annual sales. (www.businessweek.com). It also offers a full range of financial services products to serve the needs of small and large corporations, governments, and institutional and individual investors. The Financial Center Network is comprised of local offices and complemented by electronic delivery systems, including ATMs and the World Wide Web. Specific products and services include basic banking accounts, investment services through Citicorp Investment Services, CitiTerm life insurance, CitiPhone banking, and CitiGold accounts, which integrate banking, borrowing, and investing services.Banamex Banamex is Mexicos largest commercial bank in terms of equity and earnings, with an extensive distribution network of more than 1,500 branches and 4,00 ATMs.Smith Barney Today Smith Barneys 1,700 Financial Consultants serve more than 7. million client accounts representing more than $860 billion in client assets (www.citi.com). They provide comprehensive financial planning, research and money management services to individual investors, institutions, corporations, governments and foundations.Travelers Life & AnnuityTravelers Life and Annuity specializes in life insurance and individual and group annuity products that address the asset protection, retirement planning and estate preservation needs of our customersCitiFinancial CitiFinancial provides community-based lending services through a strong branch network system. All the decisions are made locally by CitiFinancial team members who live and work in the locations they serve and gives us a unique competitive advantage, allowing us to best determine each client's needs. The consumer loan services include real estate-secured loans, unsecured and partially secured personal loans, and loans to finance consumer goods.CitiInsuranceCitiInsurance is Citigroups international insurance business, which currently distributes insurance products in 4 countries and manufactures insurance in six countries. CitiInsurance focuses on life and retirement-related products, including variable and fixed annuities and other unit-linked products; an array of credit-related products, including personal accident and health.Primerica With more than 100,000 full and part-time representatives, Primerica is the largest financial services marketing organization in North America. Primerica offers consumers an array of financial services and products, including term life insurance underwritten by Primerica Life. The company also markets other Citigroup Products, including Salomon Smith Barney Mutual Funds, Travelers Insurance Company annuities, and CitiFinancial loans and mortgages.Financial Highlights (www.finacialtimes.com) CITIGROUP NET INCOMEPRODUCT VIEWIn millions of dollars, except per share amounts

00

001

% Change

SEGMENT INCOMEGLOBAL CONSUMER GROUPCards

$,15

$,56

%Consumer Finance

,10

1,05

16Retail Banking

,0

,508

Other

(140)

(11)

(4)TOTAL GLOBAL CONSUMER GROUP

8,45

6,86

GLOBAL CORPORATE & INVESTMENT BANK Capital Markets & Banking

,871

,887

-Transaction Services

51

407

8Other 1

(1,6)

5

NMTOTAL GLOBAL CORPORATE & INVESTMENT BANK

,0

4,46

(0)SMITH BARNEY (PRIVATE CLIENT GROUP)

7

767

(6)GLOBAL INVESTMENT MANAGEMENTLife Insurance & Annuities

86

86

-Private Bank

456

68

4Asset Management

51

TOTAL GLOBAL INVESTMENT MANAGEMENT

1,81

1,56

14PROPRIETARY INVESTMENT ACTIVITIES

(448)

18

NMCORPORATE/OTHER

()

(64)

85NET INCOME

$15,76

$14,16

8%NET REVENUE

$71,08

$67,67

6%RETURN ON AVERAGE COMMON EQUITY

18.6%

1.7%

.

Global ConsumersGlobal Consumers delivers a wide selection of banking, lending, insurance and investment services through a network of local branches, offices and electronic delivery systems, including ATMs, Automated Lending Machines and the World Wide Web. The Global Consumer businesses serve individual consumers as well as small businesses. Global Consumer includes Cards, Consumer Finance and Retail Banking. Card MasterCard, VISA and private label credit and charge cards. International Cards provides credit and charge cards to customers in Western Europe, Japan, Asia, Central and Eastern Europe, Middle East and Africa (CEEMEA) and Latin America. Consumer Finance provides community-based lending services through branch networks, regional sales offices and cross-selling initiatives with other Citigroup businesses. The business of CitiFinancial is included in North America Consumer Finance. As of December 1, 00, North America Consumer Finance maintained ,411 offices, including ,186 CitiFinancial offices in the U.S. and Canada, while International Consumer Finance maintained 1,14 offices, including 884 in Japan (Citibank.com) Consumer Finance offers real estate-secured loans, unsecured and partially secured personal loans, auto loans and loans to finance consumer goods purchases. In addition, CitiFinancial, through certain subsidiaries and third parties, makes available various credit-related and other insurance products to its U.S. customers. Retail Banking provides banking, lending, investment and insurance services to customers through retail branches and electronic delivery systems. In North America, Retail Banking includes the operations of Citibanking in North America, Consumer Assets, Primerica Financial Services (Primerica) and Mexico Retail Banking. The Consumer Assets business originates and services mortgages and student loans for customers across the U.S. The business operations of Primerica involve the sale, mainly in North America, of life insurance and other products manufactured by its affiliates, including Smith Barney mutual funds, CitiFinancial mortgages and personal loans and the products of our Life Insurance and Annuities business within the GIM segment. The Primerica sales force is composed of over 100,000 independent representatives (www.forbes.com). Mexico Retail Banking consists of the branch banking operations of Banamex. International Retail Banking provides full-service banking and investment services in Western Europe, Japan, Asia, CEEMEA and Latin America.Partners Citigroup has launched many new services over the past few years. They have expanded operations on the web, especially for CitiDirect online, the banking platform for corporate and institutional customers, which is now available in twelve languages and can be viewed in eighty-five countries. Citigroup has entered into many agreements with AOL Time Warner and Microsoft in order to achieve cross marketing. Citigroup now receives more than $1 billion in revenues from their cross-marketing initiatives.From the high reputation and crossmarketing abilities of Citigroup, they have been able to attain one of the best lists of clientele in the country. Eightyeight percent of the Fortune 50 companies conduct business with the Investment and Corporate Bank ofCitigroup. Citigroup Foundation The Citigroup Foundation is the philanthropic arm of Citigroup Inc., the world's preeminent financial services firm. In 001, Citigroup businesses and the Citigroup Foundation gave more than $67 million in grants to organizations in 74 countries. (www.citibank.com). By partnering with Citigroup businesses around the world, the Foundation is able to put the full resources of a global institution to work for the local organizations. The foundation has three main focus areasFinancial Education Employees from all around the globe are using their experience and expertise to help individuals and organizations to develop personal financial management skills and create a more secure financial future for themselves and their families. Some examples are · National Academy Foundation· National Community Reinvestment Coalitions Financial Literacy Program · The junior AchievementEducating the Next Generation The Citigroup Foundation seeks through arts education programs to strengthen the quality of teaching, improve student achievement, increase access to higher education, and encourage students' creativity. According to them, enhancing educational opportunities will better prepare the next generation to achieve personal and professional success. Some examples are· Brooklyn Academy of Music· Civic Education Project· CitiSuccess Funds· Hispanic Scholarship/Citigroup Fellows Programs· UNCF/Citigroup Fellows Program Building Communities and Entrepreneurs Citigroup operates in more than 100 countries, and in each, the workforce is more than 0 percent local. The result is an environment with respect for diverse backgrounds and different cultures, combined with the company's deep desire to make each community a better place. Some examples are· ACCION International Latin America Regional Microenterprise Collaborative· Women's World Banking· Corporation for Supportive Housing· Enterprise Foundation· Habitat for Humanity ConclusionOn October 18, Travelers Group merged with Citigroup Inc. to form a new model of financial organization, which represents the unification of the banking, insurance, and securities services. The combined company, which was named Citigroup Inc. started to use the trademark Travelers red umbrella as its logo, associated as protection against a "rainy day". Citigroup's principal activities are conducted into four divisions Global consumer includes full-service consumer franchise encompassing, branch and electronic banking, consumer lending services and credit and charge card services, personalized wealth management services; Global corporate and Investment bank includes the provision of financial services such as investment banking, retail brokerage, corporate banking and cash management products and services and commercial insurance; Asset management includes asset management services provided to mutual funds and institutional and individual investors; and Investment activities which includes the Companys venture capital activities, the realized investment gains and losses related to certain corporate and insurance-related investments.Citigroup has a presence in more than 100 countries and can compete with any other company in major markets across the world. Citigroup has the most capital of any firm in the industry, with $88 billion. This provides them with many opportunities for investment in the future. They also have the second largest amount of total assets compared to other top companiesNowadays, Citigroup is in a great position to expand. They are also in a strong growth stage even though they are already a well-established corporation. Citigroup plans to explore many other markets of the world and provide financial services. The opportunity for growth in emerging markets is dramatic eighty six percent of the world's population lives in emerging-market countries; it is possible for them to accommodate every type of client they may encounter. Overall, Citigroup is a firm that possesses many desirable qualities that an investor would look for. There are many uncertainties about the industry as a whole, but Citigroup has established them as a leader and has positioned them to be on top for many years to come. They possess the business plan and resources necessary to expand operations into new markets and thrive. Their different business entities will help them to diversify and keep earnings steadily on the rise.Bibliographywww.businessweek.comwww.forbes.comwww.citi.comwww.fortune500.comwww.citibank.comwww.financialtime.com Please note that this sample paper on Citibank is for your review only. In order to eliminate any of the plagiarism issues, it is highly recommended that you do not use it for you own writing purposes. In case you experience difficulties with writing a well structured and accurately composed paper on Citibank, we are here to assist you. Your persuasive essay on Citibank will be written from scratch, so you do not have to worry about its originality.

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"Does managing diversity give management in the tourism and hospitality industry a competitive advantage"

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"Does Managing Diversity give Management in the Tourism and Hospitality Industry a competitive advantage over its competitors"?It is a common misconception that diversity in tourism and hospitality organisations is only about race or about the EEO. Diversity in tourism and hospitality is so much more than EEO although it encompasses the EEO's fundamental theories to build long-term business strategies (Hogh, personal communication, March 18, 00). Some tourism and hospitality managers are of the opinion that managing diversity will enable them to achieve a competitive advantage. This essay will explore three hotels in the tourism and hospitality industry and discuss the effects of diversity in their businesses in relation to gaining a competitive edge over their competitors.Diversity includes but is not limited to race, age, gender, religious background, learning orientation, work levels and functions, economic background, communication and learning styles (What every consultant needs to know about diversity and consulting and training, 00, p. 1). To gain a competitive advantage in tourism and hospitality organisations, as with any business, diversity must encompass all these differences to ensure the best possible benefits are achieved from their employees. When employees are managed to achieve their full potential the long-term business objectives of the organisation will not only be achieved but customer service will be excellent and thus profits increased resulting in a leading edge over competitors (Hogh, personal communication, 00, March 18).Working with diversity in the tourism and hospitality industry

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The tourism and hospitality industry encompasses many organisations that are primarily service industries. Schlesinger and Heskett remark that if you "put the people who deliver the service first, and design the business systems around them, you can use the service delivery as the centrepiece of your competitive strategy" (11, p. 7). If tourism and hospitality organisations are to do this they will need to assess their particular section of the hospitality industry and realistically employ people who can service their target markets and address the diversity of their customer base. Managers are nothing without their employees; but together they work differently to achieve the same business goals that the organisation wishes to achieve. Thus, it is imperative to ensure that,"Jobs are designed to stimulate employees to provide customer satisfaction, and thus enrich their working lives. Care selection processes include task analysis, identifying that service employees can have innate characteristics such as good communication skills but will still require ongoing training"(Tourism and Hospitality Management, 00, p. 45).Training is not only essential to the success of the service encounter itself but the relationship between employees in the organisation. Providing a dynamic diverse work force means a commitment to change for everybody working in that organisation to ensure professional harmony. That means, working from the manager down, employees become more open when they are involved from the beginning, and they are then able to understand how they can all benefit, and see how learning about other peoples diversities can change their own attitudes to work thus making their job easier, more enjoyable and harmonious (Corporate news at the Hyatt, 00, p. 1).Unfortunately because of the high turnover of staff in the tourism and hospitality industry in New Zealand this harmony is not always easy to attain and maintain ("Just passing through", 00, p. ). Destinations like Queenstown are typical of this scenario, they are desperate for staff as many of those employed are itinerants working to augment their travel funds, then they move on ("Just passing through", 00, p. ). This is a common trend in tourism and hospitality organisations all over New Zealand which was evident in a TMP Worldwide six monthly job index survey in November 001 which found among New Zealand tourism businesses that 7% reported annual staff turn overs of more than 15%, which the surveyors identified as danger level ("Just passing through, 00, p. ). Statistics such as these show clearly that tourism and hospitality organisations are able to experience diversity in the work place, however diversity does not mean that organisations are able to maintain standards of service while the work force is unstable, and if the workforce is unstable and standards are not maintained it will not be possible to gain a competitive advantage.Diversity at the Novotel QueenstownA field trip by the Bachelor of Hotel Management class from the Southern Institute of Technology, Invercargill to Queenstown last year revealed that this was an ongoing problem within the hotel industry. Front Office Manager Ken Davidson from the Novotel Queenstown reiterated that the turn over of staff comprising of foreign travellers had both positive and negative affects on the service they were able to provide to guests (personal communication, 00, May ). The positives he offered were mainly cultural awareness and the ability of transient staff to speak more than one language (Davidson, personal communication, 00, May ). The hotel often took advantage of overseas travellers on their OE wanting to work within the hotel because it meant that they were more easily able to converse with other guests of the same nationality and often they had a wealth of experience from other hotels all over the world which enhanced their ability to do their job (Davidson, personal communication, 00, May ). Mr Davidson went on to say that although working with people from different backgrounds and thinking styles was interesting and challenging it was not easy for some local employees to see the benefits when these employees only stayed an average of three months (personal communication, May , 00). This was a problem for all hotels in Queenstown some of which was due to the ongoing accommodation problem in the province (personal communication, 00, May ). The accommodation crisis in Queenstown meant that many New Zealand professional industry workers were not prepared to stay for long periods because housing was either unaffordable or unavailable (Davidson, personal communication, 00, May ). Whilst the transient staff put up with poor living conditions at camp sites and caravan parks because it was all part of the big OE experience, staff from New Zealand were less inclined to put up with inconvenience (Davidson, personal communication, 00, May ). Novotel have tried to combat part of the staffing crisis in places like Queenstown by creating a web site, which can only be accessed by staff on computers in and around their hotel chain throughout the world (Davidson, personal communication, 00, May ). This computer system advertises job vacancies throughout the world which creates opportunities for staff to move on and up throughout the chain after they have been with the company for more than six months (Davidson, personal communication, 00, May ). This system allows the diversity of staff that is so desperately needed in the hotel chain to be representative of their client base (personal communication, May , 00). For example a staff member in Japan puts his or her details into the computer and searches for vacancies in his or her particular field, the computer will automatically bring up vacancies where the hotel requires Japanese speaking staff with his/her particular qualifications (Davidson, personal communication, May , 00). This means that the hotel is able to make the best possible use of any staff wishing to look for employment in another country, they have to stay a minimum of 6 months and they already know exactly how the hotel systems and procedures operate and they are representative of the target market in that hotel (Davidson, personal communication, May , 00). Where the target markets are represented by staff from the same or similar cultures, the hotel can then provide better services designed to for fill their wants and needs and gain the competitive advantage so necessary in their industry.All the tourism and hospitality services in Queenstown have similar problems maintaining their staff levels due to transient staff and lack of accommodation. It is the writer's opinion that the diversity of staff available, while having a positive effect with the benefits of being bilingual can have very negative effects on the infrastructure of the business. Hotels in particular are in a constant state of retraining, recruiting and restructuring to compensate for the turnover in staff. The writer further believes that businesses like hotels may well benefit from bilingual employees often gaining a temporary competitive advantage over their adversaries but real advantages come from a stable diversified work force. If the Novotel were able to employ a Japanese Tour manager for example, based on the target market being Japanese tourists on tour packages, the hotel would undoubtedly appeal to those responsible for making the bookings from Japan. However without the collaborated effort of management and all the employees to understand the Japanese culture this one person would very quickly amount to nothing much more than tokenism. Diversity at the Millbrook Resort QueenstownMillbrook Resort in Queenstown took up the challenge of diversity with the use of mature adults, predominantly woman, in their workforce. Millbrook had also been faced with similar problems associated with staffing as the Novotel in Queenstown (Neville, personal communication, 00, May 8). By offering staff incentives in the form of reduced rates to play golf at the world renowned golf course, the Millbrook Resort immediately appealed to the older generation, many of which were semi-retired women, or women with older children who lived in and around Queenstown, and who played golf! (Neville, personal communication, 00, May 8). The employment of women and mature adults by the Millbrook Resort was a good business strategy because the women and mature adults they employed were representative of their client base. These employees are stable, non-transient and a large percentage of them work because they choose too, not because they have too. These more mature employees were able to converse comfortably with guests when necessary and put the guests totally at ease. Many of the guests that occupy a large percentage of the housing at the Millbrook Resort at regular intervals throughout the year are older, so an older, stable local workforce was preferable to establish long-term relationships with their guests. This initiative has proved invaluable, the guests keep coming back and Millbrook Resort is one of the top resorts in New Zealand. In this instance more mature men, and mature woman specifically were the diversity that Millbrook needed to succeed in retaining a stable workforce and a competitive advantage. Diversity at the HyattUnlike The Millbrook Resort the Hyatt chain of hotels had to take a much more aggressive role to implement company-wide diversity initiatives (Diversity at the Hyatt, 00, p. 1). Hyatt has 06 owned or franchised hotels and resorts in countries, employing more than 0,000 people thus ensuring that diversity is one of the Hyatt's core values (Diversity at the Hyatt, 00, p. 1). The Hyatt's diversity initiatives fall into five basic categories commitment, accountability, training, measurement and communication (Diversity at the Hyatt, 00, p. 1).In order for the Hyatt to gain a competitive advantage over its rivals it was important for the hotel to be seen as taking an active role in the community to accommodate its diverse cultural minorities (Diversity at the Hyatt, 00, p. 1). The Hyatt chain has hotels in many metropolitan cities which are "cultural melting pots", so its sees itself as having a responsibility to the community to represent those cultures at the hotel (Diversity at the Hyatt, 00, p. 1). The Hyatt's diversity training programs gives the employees the tools required to address the guest's needs without a manager being present (Diversity at the Hyatt, 00, p. 1). The employees are there to provide an exceptional experience to the guest, the diversity program helps the employees to deal with possible barriers in providing this service (Diversity at the Hyatt, 00, p. 1). The training benefits to the employee becomes two fold, firstly by, enhancing the guests experience, the employee has huge amount of job satisfaction and secondly, the guest rewards the employee in the way of gratuities. Most importantly, from a business point of view, the hotel is rewarded by return business and good word of mouth and a happy diverse workforce (Diversity at the Hyatt, 00, p. 1).The Hyatt's commitment to diversity training has paid off for the company with a number of awards in 00 the most prestigious of those from Fortune Magazine who named the Hyatt as one of"America's 50 Best Companies for Minorities," for a 4th straight year. Hyatt ranked # 1 overall on the list. It is notable that the Hyatt has the rd most diverse workforce on the list. In addition, Hyatt was ranked rd in managerial diversity among all companies. Hispanic magazine rated Hyatt as having one of the "Top 5 Recruitment programs" in its February 00 issue. The Black Collegians Top 100 Employers Survey ranked Hyatt # 4 on their list (Diversity at Hyatt, 00, p. 1).Recognition from the community in the form of awards means companies like the Hyatt have achieved what they set out to do, employing a diverse workforce that reflects the community in which operate (Diversity at Hyatt, 00, p. 1). Achieving this goal has given Hyatt a worldwide reputation as one of America's best companies for minorities in rankings based on information about recruiting and employment practices (Diversity at the Hyatt, 00, p. 1). This recognition means support from a diverse range of guests and businesspeople all over the world and proving that diversity is economics or turning "difference into dollars" ("Diversity Economics", 00, p. 1).It is the writers opinion that American companies like the Hyatt have had little choice but to make diversity in the workforce work for them because they are open to lawsuits and very rigorous EEO laws. In New Zealand we work under the Human Rights Act and the EEO, whilst there is an opportunity for employees in New Zealand to seek recompense for being unfairly treated there is not the huge payouts associated with lawsuits in America. For this reason countries like New Zealand are probably behind in their efforts to truly integrate diversity into their business strategy. Global diversityGlobally the world is changing and people are making their homes in countries far from their birth. There are a number of reasons for this, war, the pursuit of a better life, mixed marriages, and the ease of travel to name a few. Countries have had to become culturally sensitive and set aside racial discrimination and learn to work harmoniously with people from all walks of life. Although New Zealand is only a small country it also has become a "cultural melting pot" in densely populated areas like Auckland, where one third of the population of New Zealand reside. In areas like Auckland, businesses in the tourism and hospitality industry are afforded a diverse stable workforce simply based on the population alone. For this reason a hotel run in Auckland because of the human resources available, will operate quite differently from a hotel in Invercargill. Invercargill is a small city that is very traditional in it's thinking and rather antiquated. Invercargill has not the diversity of cultures living in its communities to have this reflected in their workforce. However, some may argue that Invercargill's diversity is the number of young students working in the hospitality industry and the stable older workforce who have been in their jobs for years.Regardless of the part of the world or the fundamental principles that exist in those communities, every organisation in order to be successful must recruit the best possible employees (Diversity benefits organisations and communities, 00, p. 1). This means training and communication so that organisations work towards making all their employees feel valued and their differences best utilised to achieve the organisations goals together (Diversity benefits organisations and communities, 00, p. 1).In ConclusionIn the constantly changing, fast paced, competitive arena of hospitality a diverse workforce can provide an environment in which each employee has the an opportunity for personal potential while working with the team to achieve the organisations goals.Diversity is not about just addressing morale or legal issues. The bottom-line is that the tourism and hospitality industry is faced with a shrinking labour pool at all levels because of the lack of well trained professionals and the transient nature of the industry which often results in a temporary workforce. Diversity can provide the industry with the opportunity of recruiting from a wider section in the labour market that includes women, and minorities. Thus, maintaining the ability to retain employees, spending less on retraining and improving staff morale, which ultimately leads to a harmonious workforce, satisfied customers and a significant edge over your competitors.Those organisations that meet the challenges of diversity by capitalising on the diversity of the community by integrating them into their workforce will find that by means of education and training from management down, the organisation will benefit from the diversity of skills and experience that different cultures and people of different working orientations can provide (Starting your diversity and inclusion team, 00, p. ).A diverse workforce will improve the image of the organisation, show its credibility in the community and demonstrate that it is an equal opportunities employer and ultimately turn 'difference into dollars'. ReferencesCorporate news at the Hyatt, (00). Retrieved May 6, 00 from http//www.hyatt.com/corporate/hyatt/index.jhtml?ssnav=0 Diversity at the Hyatt, (00). Retrieved May 11, 00 from http//www.hyatt.com/corporate/index.jhtml Diversity Economics, (00). Retrieved May 1, 00 from http//www.findarticles.com/cf_0/m0EIN/00_July_0/8851010/p1/article.jhtml?term=diversity+in+hospitality+gives+competitive+advantage Hogh, Human Resource Management Class Lecture, 00.Mr Ken Davidson, Front Office Manager (00, May ). Personal communication in the foyer of the Novotel Queenstown to the Bachelor of Hotel Management class, Southern Institute of Technology Invercargill.Neville, Public Relations Officer (00, May 8). Personal communication in and around the grounds on tour at the Millbrook Resort Queenstown.NZPA-Reuters, (00, April1). Just passing through. The Southland Times, p. 6. Schlesinger, L.L. & Heskett, J.L. (11). The service driven company, Harvard Business Review, Sept/Oct. Southern Insttiute of Technology. (00). BHM 04/1, Tourism and Hospitality Management Study Guide. Invercargill. Starting your own diversity and inclusion team, (00). Retrieved from http//www.diversityunit1.com What every consultant needs to know about diversity consulting and training, (00). Retrieved May 6, 00, from http//www.simmalieberman.com/articles/consultantdiv.html Please note that this sample paper on "Does managing diversity give management in the tourism and hospitality industry a competitive advantage" is for your review only. In order to eliminate any of the plagiarism issues, it is highly recommended that you do not use it for you own writing purposes. In case you experience difficulties with writing a well structured and accurately composed paper on "Does managing diversity give management in the tourism and hospitality industry a competitive advantage", we are here to assist you. 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Cross Cultural Management

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Assignment

"The Influence of Culture on Managerial Functions of BAUR Company"

Extended Course Dornbirn, Module Cross Cultural Management

FH Liechtenstein, FH Dornbirn

Prof. Dr. Hans-Rüdiger Kaufmann

Submitted by

Gernoth Dobianer

Köhlerstr. 1

681 Meiningen

Words 18 (excl. Table of Content and Literature)

Table of Content

1 Introduction

The Company's International Situation, Challenges and Problems

Relevant Theory to overcome cultural differences 5

4 Recommendations derived from comparison of theory and practice 8

5 Conclusion 10

6 Literature 11

Abbreviations

PCN Parent Country National

TCN Third Country National

1 Introduction

Globalisation has brought about certain advantages in the past three decades to the workplace including accelerated communications and economic interactions. It has also allowed closer interactions between people of different cultural backgrounds beyond mere acquaintances into playing important roles in adding value to efforts to promote the business organization.

This paper looks into the various attempts by people (practitioners and academics) from various disciplines to shed light on the issue of management of diversity within the company. It also looks into some notable endeavours to provide a workable framework that would give managers and business administrators better sense and better management tools when confronted with the many aspects of cultural diversity, including the negative aspects that could undermine the bottom line.

As a way of explanation and guide to readers of this paper, the concept of cultural diversity here is treated in a general manner which includes both cultural differences exhibited by employees coming from different national background and differences exhibited by employees coming from different companies and would now be sharing a common workplace (the firm).

The Company's International Situation, Challenges and Problems

Clarkson et al (18) state that "Firms will exist whenever cooperative or joint group effort results in a larger product than the sum of the products of individual isolated efforts."

Like any business firm, BAUR Test Equipment, a market leader in very low frequency Cable Testing and Diagnostics on highvoltage cables, sought and made management decisions in its objective to strengthen the firm through the complementary process of recruitment and hiring of highly competent production and sales personnel. To further describe the firm, BAUR`s headquarters is located in Austria, with distribution network set up through independent representatives in some seventy countries worldwide. BAUR operates subsidiaries in Germany, Spain, UK and Brazil. The company also employs mid-level and sales people from seven different countries, both in the headquarters and in its overseas subsidiaries.

The headquarters develop, produce and distribute test equipment. It also makes all recruitment. Most of the staff are PCN`s, but due to a lack of workforce in the year 000, BAUR has started to employ TCN`s to look after distribution matters.

BAUR envisioned its decision to cast outward its recruitment and hiring processes' net to include people from different cultural and national backgrounds and attract and retain the best available human resources. Particularly in the sales division in its overseas subsidiaries, hiring of local people, or people of their various nationalities who would have a thorough knowledge of the market, would enhance marketing efforts towards more diversified and effective marketing strategies. Cross-cultural diversity is also seen to promote creativity and innovation and facilitation in problem solving brought on by different perspectives in approaching problems and providing solutions thereto. As such, the flexibility of the firm is enhanced.

The main objective is to attract the best competences from practically among all available human resources in the field where BAUR operates. This would correlate with the believe that "One of the major sources of potential competitive advantage for business is the effective management and development of people" (Higgs 16). To further expand its operations, the company begun recruiting competent people for key overseas position. As an example, BAUR hired the services of a British manager with extensive international background to manage its subsidiaries in the UK and North America. The British facility with the English language to promote the company's products in the English-speaking countries was seen as one of the primary considerations for his employment. His professional vision and work ethics and that of BAUR's strategic vision and operations protocols were found to be compatible.

BAUR's experience in hiring non-Austrians to key positions proved quite beneficial, practically a flexible structure providing autonomy to independent country operations. The British Sales Manager, in addition was given wide latitude to address issues under his geographical responsibility. On the matter of costs, the British Sales Manager was paid in a scale according the pay scale existing in the UK which by simple computations was 0% higher than in the Headquarters. However, no cost was involved for training, health and life insurance which are facilities and privileges enjoyed by those in the Headquarters.

Relevant Theory to overcome cultural differences

In an abstract about conflict management across cultural boundaries Darling et al (1, p.8) state that "As long as organizations are composed of and operated by human beings, there will be conflict" .Conflict arises due to many factors such as personal differences, expectations, values, etc.. Changes in personnel, clientele, product line, financial climate and even corporate philosophy contribute to the wide extent of the theory of culture.

A survey of available literature on the theory culture yielded a constant reference to the original work of Hofstede (18), who in this seminal paper identified four key dimensions which impact on national cultural differences. These are

§ Individualism/collectivism. This dimension reflects the extent to which individuals value self-determination as opposed to their behaviour being determined by the collective will of a group or organization

§ Power-distance At the core of this dimension lies the question of involvement in decision making. In low power-distance cultures, employees seek involvement and have a desire for a participative management style. At the other end of this scale, employees tend to work and behave in a particular way because they accept that they will be directed to do so by the hierarchy of the organization.

§ Uncertainty avoidance This dimension is concerned with employees' tolerance of ambiguity or uncertainty in their working environment. In cultures which have a high uncertainty avoidance, employees will look for clearly defined, formal rules and conventions governing their behaviour.

§ Masculinity/femininity This is possibly the most difficult dimension to use in an organization context. In practice, the difficulty is more to do with terminology and linguistics, in Hofstede's work the dimension related to values. In highly "masculine cultures" dominant values relate to assertiveness and material acquisition. In highly "feminine cultures" values focus on relationships among people, concern for others and quality of life.

Hofstede's work provided the importance of looking at different dimensions, individualism collectivism, power distance, uncertainty avoidance, masculinity/femininity as possible scenarios brought into the workplace by cultural diversity. The scenarios accruing from the dimensions gave the decision-maker an observatory to make better assessments on how to approach the problem even before being faced with the persons involved in the conflict.

Based on the aforementioned four dimensions, Hofstede proposed a general framework for building the competences required for operating in cross-cultural basis. This may be summarized as follows

1. Building awareness

§ of own culture

§ of cultural differences

. Developing knowledge

§ of the impact of cultural differences

§ of the relative strengths and weaknesses of different cultures in a managerial setting

. Building skills

§ identifying the impact of different cultural settings for managerial problems adapting behaviours to achieve effective results in different cultural settings

Through the years, as seen from available literature on the subject, Hofstede's framework has gained wide acceptance as a framework to be applied in full, or applied with variations to address a firm's particular situation. The framework has posited the importance of comprehensive awareness and the flexibility in the application of approaches to address the issue of diversity. Managers and academics, through the years, have recommended variations to conflict management of cultural flavour but still use Hofstede's dimensions and framework as the reference points.

The theory of culture, from the standpoint of the economic discipline, presented another perspective. Movando et al (00, p. 41) defined culture as "a set of broad tacitly understood rules and procedures that inform organizational members on what and how to do under a variety of undefined situation." In that sense, organizational culture is conceived as economic functionalism, and among other things, a solution to a managerial problem.

This perspective postulates the belief that cultural artefacts "can be used to build organizational commitment, convey a philosophy of management, rationalize and legitimise activity, motivate personnel and facilitate socialisation" (Smircich, 18, p. 45). The economics of culture minimizes the costs of drawing up employment contracts and minimizes the details necessary for controlling employees. Expected behaviour is conveyed through corporate culture which can be used as alternative to written contracts.

As an economic concept, culture and similarities in culture, can be more effective in communication than most alternatives available to management. "Cultural consistency creates economies of horizontal and vertical coordination since subordinates know their boss would like things to be done. This economizes on time for consultations, i.e. timeliness of decision making. Subordinates can act quickly in the knowledge that their boss would approve. Finally, the visibility of culture can create economies as it may lead to lower labour turnover because employees know what to expect before joining the firm" (Movando et al 00, p. 41).

Conversely, diversity in culture could provide dichotomies for the firm. Fleury (1, p. 110) quoting Thomas (16) contend that "management of cultural diversity implies a holistic focus in order to create an organizational environment that allows all the employees to reach their full potential in pursuing the company goals." Stated simply, managing cultural diversity would entail costs to the individual, to the management and to the firm.

Management of cultural diversity is neither a paradigm with ready solutions, nor a program to solve discrimination issues. Cox (14) stated that "management of cultural diversity means to plan and implement organisational systems and practices to manage people so that potential advantages of diversity are maximized while its disadvantages are minimized". An effective manager would look at conflict to creatively stimulate personal development, internalise the problem, increase critical vigilance and self- appraisal and examine conflicting values when making decisions (Darling et al, 1, p. 84).

4 Recommendations derived from comparison of theory and practice

The general framework advanced by Hofstede (18) called for building awareness from within and without, developing knowledge of the cultural differences particularly on its impact on the workplace and building skills to address managerial problems adapting behaviours to achieve effective results in different cultural settings

For many firms, this need will entail thinking more clearly about cross-cultural issues and more overtly and systematically understanding and valuing the benefits of diversity in the workplace. Achieving this requires the integration of theory and practice relating to team building and understanding the benefits of differing personal styles and behaviours.

In this scenario, managers are asked to look at cross-cultural diversity as a positive force for change within the organization. In order to ensure that diversity remain positive for the firm, the manager must recognize the existence and value of conflict, encourage discussion of different points of view and provide an effective plan to manage diversity.

Although much can be achieved by working with a framework, the truly successful global players are likely to be those which incorporate the change through integrated changes to selection, development, reward and recognition policies and practices. In doing this the value of effective cultural-diversity management can be availed of at various levels in the organization towards high performance levels, more rapidly and consistently.

However, if there is a best way to challenge dominant cultural patterns when they exist to negatively affect the workplace, available literature on the theory of culture do not provide clear answers on their effectiveness. Several human resources policies like training programs, aiming at the creation of awareness and changes in people's behaviour are achieving no more than a relative success.

And if the theory of culture could not provide adequate perspective to address the issue of managing diversity, the question of costs comes into the forefront of discussions.

O'Neil (00, p.8) argued that diversity management is seldom rationally defended and its merits simply assumed to the point of unquestioned orthodoxy. He went on to say that the complication of this state of affairs is that "when given enough attention, each culture becomes obsessed with its proper share of the resources with the less successful culture demanding equality of results."

Instead of defining cultural differences and making particular management policy decision to address these differences, O'Neil, in the same paper recommended a closer look at the historical and cultural experiences of the United States which allowed 0 million migrants from Europe during the period between 1880 110 to progress on to be the world's leading political and economic powerhouse.

"The traditional American approach to culture was one of assimilation or the melting point. It was based on a Lockean contractual orthodoxy rather than on biological credentials. The United States, in terms of its needs, welcomed millions of migrants, but they were expected to assimilate to the core culture. The public school system served as the primary tool of assimilation and Americanization. "

…..the "immigrant could come to the USA but the decision to come was a decision to assimilate culturally."

In the workplace, the American experience would translate into an employee coming into the firm with the understanding and conviction that he would conform to the firm's existing culture. Management would concentrate with maintenance protocols to deepen this understanding and strengthen conviction and continuing oversight.

5 Conclusion

Modern firms take it as conventional wisdom that one of the major sources of potential competitive advantage is the effective management of people. Indeed, there is a growing trend for the development of effective management teams in every company wishing to expand its business frontier beyond its national borders. Towards that objective, management of cultural diversity is now gaining respect as an area where considerable attention and resources are required to achieve the full potential of the firm's human resources.

However, the theory of culture is still evolving. A uniform or at least a compelling general definition of what "culture" is in the workplace has even met contrary comments and opinions. The process of building a consensus on how the theory is supposed to operate is way too slow to be of immediate value to firms trying to catch that all-important business high point towards profit.

More so with small firms operating globally but who do not have large Human Resource Management Divisions to deal with the many steps and intricacies to achieve the rewards of conflict management based on cultural differences.

Nonetheless, the foregoing discussions on the theory of culture, the costs of managing cultural diversity, and the practical experiences of firms, provided the insight that the key to managing diversity is not to allow the differences as a separate factor needing a separate managerial attention and decision. It is even emphasized that understanding and awareness of cultural diversity should happen at the front door, even before the employment contract is signed, and not at the workplace.

6 Literature

(Clarkson et al. 18) Clarkson, Kenneth W.; Miller Roger L. Industrial Organization, Theory, Evidence and Public Policy. Mcgraw-Hill Book Company, 18

(Cox 14) Cox, T. Cultural diversity in Organsiations Theory, research and Practice. Berrett-Koehler Publishers, San Francisco, CA, 14

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Qantas report

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Business Report

ʏExecutive Summary This business report intends to discuss Qantas's prime functions. It will also outline Qantas' sales and marketing strategies, and the issues which it will and has been facing during the past year. This report is based on information from the Qantas' 00 annual report to it's stakeholders.

Cheap research paper on qantas report

ʏPrime Functions Founded in the Queensland outback in 10, Qantas Airways is now Australias #1 airline and a leader in domestic and international flights to and from the country. Qantas flies to about 14 destinations,67 within Australia and 75 in other countries. It employs over ,000 people worldwide. Other Qantas operations include catering and tourism. Qantas continues to play a vital role in supporting cultural, sporting and community organisations across Australia. The company also has well established programs for indigenous Australian employees and communities. Every day of the year, Qantas helps people who are disadvantaged, chronically ill or in need of urgent assistance. Qantas' supports many major community organisations. Mission Australia, National Breast Cancer Foundation and Starlight Children's Foundation of Australia are just some examples. Qantas is also committed to promoting processes and work practices that minimise the environmental impact of its operations. Qantas Airlines Limited has built a reputation for excellence in safety, operational reliability, engineering & maintenance, and customer service.International Operations Qantas operates approximately 540 International flights a week to and from Australia. It offers services to 68 destinations in 1 countries across the Asia Pacific region, Europe, North America, South America, and South Africa. During the year Qantas upgraded many of its international aircraft and lounges. A highlight was the $00 million project to install a new in flight entertainment system on the Qantas fleet of Boeing 747-400s. This was to feature larger screens in First and Business Class, individual seatback video screens in Economy Class, and in seat telephones in all classes. The interiors of this aircraft are also being upgraded, with new design seat fabrics,curtains, carpets and accessories for First, Business and Economy Class cabins. The upgrade program has been extended to the Boeing 747-00 fleet at an additional cost of $15 million and is due for completion by the end of 00.Qantas will invest a further $00 million to relaunch its International Business Class, featuring newly designed sleeper seats and cabin upgrades. Qantas has always managed its international network closely, scrutinising every route to ensure its ongoing viability. Following the terrorist attacks in the United States on 11 September 001 and the resulting fall in demand for international air travel, Qantas reduced a number of scheduled international flights. Demand is steadily increasing, resulting in the reintroduction or planned reintroduction of additional services. Domestic Operations The core domestic airline of Qantas operates an average of 7 flights each day. During the year, Ansett, (the major domestic competitor of Qantas) collapsed. As a result, Qantas significantly increased the number of scheduled flights operated by its core domestic airline. The initial Qantas City flyer service took off on the airline's busiest route, SydneyMelbourne, on 1 July 001. This service offers flights every half hour on weekdays. It quickly established itself as the best domestic product in the market for the business traveller. In February 00, the service was extended to SydneyBrisbane, offering flights every half hour during peak times and every hour at other times. It also extended to MelbourneBrisbane offering hourly flights. Qantas is investing $50 million to upgrade its domestic Qantas Club Lounges around the country. Work has already commenced on the lounges at Sydney, Melbourne and Brisbane domestic terminals, with these projects scheduled for completion in September 00. There are also plans to expand and improve the domestic Qantas Club Lounges in Perth, Gold Coast, Darwin, Adelaide and other ports. A highlight of the upgrade program is enhanced business facilities featuring the latest technology. This includes upgrading communications capabilities to allow customers to plug in laptops, charge mobile phones and access email from the comfort of an armchair.Regional Operations Qantas's regional operations have been flying under one brand name, Qantaslink, since May 001. QantasLink operates more than ,700 flights each week to 55 destinations within Australia. QantasLink is an essential part of the Qantas Group, operating an extensive regional network serving 55 cities and towns throughout Australia with connections to a network that extends to 1 other countries. QantasLink provides important transport services for regional Australia and connections to Qantas domestic and international networks. QantasLink employs approximately 1,600 people. Following the collapse of Ansett, QantasLink operated hundreds of additional services to regional Australia and provided and arranged for services to regional destinations previously served only by Ansett and its subsidiaries. QantasLink has grown significantly since September 001. In January 00, five Dash 8-00 aircraft were added to the QantasLink fleet, boosting services and creating more than 0 jobs. Three months later, six Boeing 717 aircraft were added, resulting in more non-stop services and creating more than 150 jobs for pilots, flight attendants, engineers and operational staff. QantasLink introduced a number of new regional destinations to its network during the year, including Longreach, Mt Isa and Weipa in Queensland, and Port Hedland and Newman in Western Australia. QantasLink is also a strong supporter of regional tourism and is involved extensively in the sponsorship and promotion of rural & regional events and organisations.Subsidiary Businesses Qantas has a number of non-flying, airline related subsidiary businesses, including Qantas Flight Catering, Qantas Holidays and Qantas Freight. Qantas subsidiary businesses, including QantasLink, contributed 6 per cent of the Qantas Group's earnings before interest and tax in the 00 financial year. Qantas hopes to boost the airline's overall profitability, by shaping and growing these key businesses so that they contribute about one third of future profits. Qantas operates three catering businesses within the Qantas Catering Group. These include Qantas Flight Catering Limited (QFCL), Caterair Airport Services and Snap Fresh. These three businesses collectively employ more than ,800 Australians. The Qantas Catering Group operates seven catering centres in Sydney, Melbourne, Brisbane, Cairns, Adelaide and Perth. During the year, Qantas Catering Group provided nearly 8 million meals to Qantas and other airlines as well as non-airline clients including railways and hospitals. Qantas holidays is Australia's largest travel wholesaler of both international and domestic holidays designed for independent travellers and small groups. Qantas Holidays caters to more than one million customers a year and employs more than 1,000 people across the world, including nearly 700 within Australia. With nearly 0 years' experience, Qantas Holidays continues to offer customers an unmatched range of holiday packages and product.Freight Although Qantas is primarily a passenger airline, air freight is an vital part of the core Business. Qantas freight is the specialised air freight division of Qantas and has been operating since the initial Qantas scheduled service in November 1. Qantas Freight is an integral part of the company, generating revenue in excess of A$700 million per annum. Qantas Freight employs more than 700 people and offers a varied and flexible range of services through three primary products which include Cargo, Mail and Express Service, on all international sectors of Qantas flights. Domestic freight is marketed by Australian air Express (AaE), a 50 per cent joint venture company with Australia Post. AaE is the largest domestic airline-haul company in Australia. Qantas Freight carries letters and lettuces, parcels and pets, frozen seafood and prime breeding stock. Special facilities include cool rooms and freezers for perishable goods, warm rooms for tropical fish & other live animals and strongrooms & safes for valuables. Qantas Freight is part of the oneworld global route network of 15 countries and territories and this number is still growing.ʏMarketing Qantas uses the same brand and logo globally. This gives instant recognition and reduces Qantas's packaging, design and advertising production costs. Qantas standardises most elements of the marketing mix such as product design, brand name, packaging, distribution and product positioning. Most of these marketing strategies are alliance based. Qantas's alliances create a larger range of global products for its existing customers, reducing the chance that they will need to fly off-line. The most recent products includeIn-flight Dining Renowned chef and restaurateur Neil Perry worked with Qantas on a completely new approach to in-flight cuisine in 17, when the airline relaunched its First Class service. The new meals featured quality produce and ingredients sourced from around the Qantas international network. This approach to in-flight dining has since been extended to Qantas International Business Class. Perry has also been involved in developing the Qantas domestic in-flight product that offers fresh, contemporary meals and snacks.Business Class In March 00 Qantas announced a $00 million investment in a new International Business Class, including new custom-built seats that convert to beds, which will offer the highest level of comfort and service. Qantas has developed the seat design in partnership with one of the world's leading industrial designers, Marc Newson and US manufacturer BE Aerospace. The new seats will be introduced initially on the airline's London and Hong Kong routes in the first half of 00. The new International Business Class will also feature a new lighting system designed exclusively for Qantas, a self service bar area and new-style catering to provide more choice and flexibility.Qantas Club Lounges In February 00, Qantas opened its new flagship Qantas Club Lounge at the Sydney International Terminal. With facilities for up to 500 Business Class and 150 First Class customers, it is the largest departure lounge in the Southern Hemisphere. New international lounges in Melbourne and Honolulu, and for First Class customers in Singapore have also been opened and plans are in place for new First and Business Class lounges in Bangkok and anew Singapore Business Class lounge. The airline is also investing $50 million in the redevelopment of domestic Qantas Club lounges across Australia.Cityflyer Qantas introduced Cityflyer in July 001, offering customers travelling between Melbourne and Sydney more flights and more seats than any other airline. On-ground Cityflyer services include priority departure gates, dedicated customers service desk at the departure gate for travellers with hand baggage only, and dedicated baggage carousels in Sydney and Melbourne. Cityflyer was extended to Sydney-Brisbane and Melbourne-Brisbane services in February 00.Adelaide services began in November 00 and Perth services are scheduled to commence in early 00.QuickCheck Qantas introduced state-of-the-art self-service QuickCheck kiosks at Sydney and Melbourne domestic terminals in August 00. QuickCheck provides real customer benefits by reducing check-in times to less than one minute for customers without baggage. The kiosks are easily accessible in terminal departure areas, in Qantas Club Lounges and close to Cityflyer departure gates.Qantas Total Entertainment Qantas is installing progressively on its 747-400 fleet ,a new $00 million in-flight entertainment system. The new system features seat-back video screens offering movies and games in Economy Class, new larger touch-activated individual screens and in-seat power points for laptop computers in First and Business Class, and in-seat telephones in all classes. Qantas Drive Qantas also introduced Qantas Drive, a limousine service that can be booked through Qantas or Qantas Clubs or at special desks at Sydney, Melbourne, Brisbane and Coolangatta airports. The service offers standard and luxury sedans, stretch limousines, coaches and buses.Qantas Flight Update Qantas launched an SMS short message service in November 001. The service sends details of flight departure time changes to registered users with compatible mobile phones. It advises domestic customers if their flight has been delayed by more than 0 minutes, and customers travelling on international services if their flight has been delayed by more than an hour.ʏSales Qantas maintains sales forces in Australia and around the world. Key markets for the airline include leisure, corporate, group and incentives travel. The airline distributes its product through travel agents, its own Qantas Travel centres, as well as through Qantas Telephone Sales centres and the internet. E-Commerce Qantas has introduced a range of internet-based initiatives aimed at consumer and corporate customers, travel and purchasing partners. The Qantas internet site, qantas.com ,allows customers to make domestic and international bookings and provides a facility for Frequent Flyers to redeem their points for travel. Telephone Sales Telephone Sales Australia has a staff of more than 1,00. It operates 4 hours a day seven days a week. Three Australian Contact Centres are located in Melbourne, Brisbane and Hobart. Telephone Sales also provides support for internet/online sales and Australian Airlines. There are also 14 overseas Qantas Contact Centres.Industry Sales Qantas has a strong commitment to the travel agency network. The airline works closely with some 4,000 travel agencies throughout Australia as well as industry bodies such as the Australian Federation of Travel Agents (AFTA), the International Air Transport Association (IATA), and global distribution systems that allow travel agents to quote fares and make bookings from their own offices.Corporate and Government Sales Qantas is a major player in the corporate and government account area, and has a dedicated department, (Qantas Corporate and Government Sales ) which is responsible for setting the strategic direction and policy for the airline in its dealings with these markets in Australia. Corporate and Government sales teams in each state manage a portfolio of accounts and formulate strategies to ensure the airline's success in the major account market segment. They negotiate mutually beneficial preferred supplier agreements and develop and execute plans for account performance and improvement. In addition, they provide the day to day interaction with key customers and coordinate appropriate representation nationally.Qantas Business Travel Qantas Business Travel is a specialist unit providing total travel managementservices through six offices located in major centres around Australia. More than 40 experienced business travel specialists manage some of Australia's largest and highest profile corporate and government accounts. Qantas Business Travel provides a personalised travel management service to a broad cross section of corporate and government customers from small and medium enterprises to large multinationals, and from local to state and federal government departments.Group Sales Qantas Group Sales tailors travel arrangements for groups of 10 or more people travelling internationally or domestically. A team of more than 60 Sydney-based specialist consultants manages group sales Australia-wide for Qantas. Different teams within Qantas Group Sales look after different market segments to ensure that the diverse and specialised requirements of the groups are handled knowledgeably and efficiently.Qantas Travel Centres In addition to the strong relationship Qantas has with travel agents all aroundAustralia, Qantas has of its own retail travel stores. These stores are located in every Australian state and territory.Qantas Information Technology Qantas Information Technology supports the information systems used throughout the Qantas Group and is involved in the acquisition, development and application of new systems. Major projects include the migration of the Qantas reservations and ticketing systems to Amadeus in November 00, the implementation of the Integrated Revenue Information System (IRIS) in April 00, and ongoing joint investments in the evolution of management systems with British Airways.ʏIssues Facing the Business It has been a dramatic and at times traumatic year for Qantas. The events of September 11 001 changed the industry forever and the collapse of Ansett has transformed the Australian aviation market. Qantas performed well in the face of these turbulent events .The many issues that are facing Qantas are sourced from both the external and internal business environments. These issues have affected the behaviour and conduct of the business. They represent a series of external and internal challenges that have demanded new responses and strategies from Qantas' management. The SARS virus has had a huge impact on Qantas. There has been an decrease in the demand for overseas tickets due to the virus. Qantas Airways may delay more than A$1 billion of spending in the next financial year after Severe Acute Respiratory Syndrome cut ticket sales. Qantas' earnings will be as much as 0 per cent below analysts forecasts this year because of the virus, which has spread worldwide. Demand for seats on flights to Australia from Europe, which stop in Hong Kong and Singapore, has slumped because of the virus. This has dented sales at home, where international visitors account for 15 per cent of domestic sales. Qantas is retrenching staff and replacing full-time jobs with part-time positions to cut costs. Qantas bookings have fallen 5 per cent on the high-profit Australia-Hong Kong route and have dropped 0 per cent on flights to Japan since the onset of SARS. European bookings have fallen 0 per cent, and UK travel is down 10 per cent. The virus has hit the carriers bottom line harder than the war. The September 11th tragedy and the Iraqi War have also had a dramatic effect on Qantas. As people became scared to travel overseas Qantas' ticket sales dropped immensely. The demand for overseas tickets decreased by 17% from a combination of the Iraqi war and SARS virus. Qantas Airways forced staff to take accumulated leave due to this. Qantas temporarily cut the equivalent of 1,000 jobs, as it cut costs in the face of the war in Iraq. Since September 11, Qantas has reduced its international flying capacity by 11%. All flights to New York were withdrawn from November 5, 001 and there was a reduction in flights to Rome, Johannesburg, Bangkok, Manila and Buenos Aires.Collapse of Ansett The collapse of Ansett in September 001 created a series of immediate and longer term challenges for Qantas on the domestic front. To assist stranded Ansett passengers, Qantas leased extra aircraft and added hundreds of special flights, including to regional Australia. The airline flew over 50,000 former Ansett passengers for free and another 65,000 on heavily discounted fares. Qantas was able to add the equivalent of about seven year's growth, virtually overnight. This huge effort was critical in minimising the impact of the Ansett collapse on the Australian economy, tourism, business and national life. Qantas currently employs approximately 1,500 ex-Ansett staff across its operations.Australian Airlines - A new International Airline Australia's newest airline took to the skies on 7 October 00, with the first of Australian Airlines services travelling between Cairns and the Japanese cities ofNagoya and Osaka. Australian Airlines is wholly owned by Qantas but operated independently and managed separately. It uses a lower cost model which allows it to serve markets from which Qantas has had to withdraw. The all economy class airline has a fleet of four Boeing 767 00 aircraft and offers a full in-flight service. Air new Zealand and Qantas tie-up The proposed merge of Qantas and air new Zealand has not taken place due to the ACCC. They believed that it would be an uncompetitive environment.

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