Segmentation and targeting Personal Statement Example | Topics and Well Written Essays - 250 words

Segmentation and targeting - Personal Statement Example The major consumer characteristics influencing market segmentation include geographic, psychographic, behavioral and demographic characteristics. Harry and David, a leading internet-retail store that deals with delivery of fruit gifts exemplifies a successful marketing segmentation strategy. In the Harry and David site, segmentation has been achieved through development of a product mix consisting of; Among the various gift segments, the products are targeted to the needs of specific customers using different messages. For instance, the birthday gift segment allows personalization of the gifts by adding a free gift card where the customer can write a specific message. Flower gifts are also tailored to specific occasions like May Day (May 1st), Administrative professional day (April 25th), Earth day(April 22nd) and Nurses Week (May 6th– May 12th) among other occasions. Some of the Promotional messages used in the product mix include; The segmentation choice and the messages used in each category are suitable as they are tailored to provide a personal touch to the customers. However, I would include messages that appeal to the tastes of different age groups like teenagers, young adults and middle-age groups if I was responsible for marketing the Harry and David e-retail

Some Like It Hot Movie Review Example | Topics and Well Written Essays - 500 words

Some Like It Hot - Movie Review Example crime and the thought of same sex marriage would be enough to run any rumored homosexual couple out of town, that does not excuse the disrespect for the underground gay community of its time. The film made fun of a topic that is taken quite seriously in our era and I am sure that just like me, those who are aware of the need to be politically correct, gender sensitive, and same - sex friendly will also find the way that the homosexuals were treated and portrayed in the film. The cross-dressing and homosexuality in the movie is played for laughs. It made fun at the homosexuals of the time and regarded them as nothing but funny people who should not be taken seriously. I understand that the film was made during an era when homosexuality was a taboo topic and no self respecting male would ever be caught dead admitting to being a homosexual. However, I do not believe that these closeted individuals deserved to have their sexual preference ridiculed in this manner. It was insensitive and hurtful, even if the homosexuals of the era never admitted to it. This film shows us how much Hollywood and our society has changed over the decades. What our grandparents thought of as funny is now regarded as politically incorrect and gender insensitive. But it also asks us to think about how we treat the homosexuals in our own era. Perhaps we are giving them too much respect and credit where it is not really due? Think about it, this films proves that homosexuals of their era did not think much of their rights as gay people and simply lived their lives according to the unspoken code set about by society at the time. Everyone respected them and they got everything that they deserved in life. If they were doing anything illicit, people chose to pretend it did not exist because they respected the person too much to turn him into gossip fodder. Gay people of today make too many demands upon our society in terms of forcing us to accept them as a normal part of it. As the movie

My Cyber Identity-Blog Essay Example | Topics and Well Written Essays - 1250 words

My Cyber Identity-Blog - Essay Example Edelson (2005) describes it in simple words as "just" a browser interface to web site publishing. Blogs are used by different sections of the society for different purposes. While the perceived benefits are many, so are the threats and risks to the society and its people. Mehan (2006) refers to the blogsphere world as colorful and varied as the animal world. There is an evolutionary struggle for supremacy amongst bloggers. A blog is ranked by the number of hits it receives and the number of outbound link that it has. Mehan clarifies that there are all levels of bloggers – ranging from those that have entered the world of bloggers and up to the founding fathers. To some blogging is merely a hobby but for many blogging can translate into very big business. There are some who blog almost everyday and they are able to attract advertisers or even product endorsement offers. There are different sites that offer tools to assist in meaningful blogging. For instance, Site Meter offers a free, basic hit count and link log in exchange for posting a logo-link to their website. And if this was not enough, there are software tools that boost the blog’s hit count. There is also an exchange program where people surf other blogs in exchange for others v isiting their blogs. It is now a part of the elite culture followed by the upper middle class – to read blogs. This is evident from the fact that many corporations have their own blogs. The marketing departments benefit too from such blogs. Rauchway (2007) reports in The New Republic that blogging have helped to marginalize scholarly Internet discourse. Blogging has helped a doctoral candidate Scott Eric Kaufman, to develop for himself a much higher profile. When he posted a chapter of his dissertation and sought advice, he received 66 commentaries from people of different disciplines. Blogging produces a truly better debate, opines another blogger but its practitioners do not

A law presentation Essay Example | Topics and Well Written Essays - 750 words

A law presentation - Essay Example High Court can be traced back to 1980 in the Capital of Australia, Canberra, where most sittings held there. High court exercises original jurisdiction and appellate jurisdiction. The court interprets common law for the entire Australia. Its broad jurisdiction corresponds to Supreme Court of Canada. This makes it develop the common law consistently across all territories and states, which is the most significant role of the Court. The broad jurisdiction array allows the high court take the lead in Australian laws, and this contributes to uniformity and consistency in laws for different states.2 In this case, the plaintiff, TCL, manufactures air conditioners in China, and it entered into distributorship agreement with the Castel Co. that is registered in Australia. Dispute arose when Castel alleged of the agreement breach by TCL. As a result, Castel started arbitration in 2008 in pursuant of clause 12(1) of their agreement. The TCL opposed the claims and counter-claimed against Castel. When the two claims were presented in High Court, the arbitral tribunal came up with two awards.3 In December 2010, Castel was awarded $2.8M, and in January 2011, Castel was awarded $732,500, and it thereafter proceeded to federal court to enforce arbitral awards based on International Arbitration Act of 1974.2 On January 2012, justice Murphy held that Federal Court was jurisdicted to determine the application of Castel. This pursued the article 35 and 36 of the trade law of the United Nations Commission. The case proceeded to the final hearing, where Justice Murphy in April 2012 reserved the judgment. In July 2012, TCL filed a Show Cause Application. This sought for restraining the defendant from enforcing arbitral awards. In August 2012, Justice Gummow refereed the case in Full Court for the final hearing. Some of the considerations in the high count were the empowerment of an examiner to conduct

US Supreme Court Decision Essay Example for Free

US Supreme Court Decision Essay An examination of the United States Supreme Court case Romer v. Evans, which was decided on May 20, 1996, is to be put forth in this paper. The case was argued on October 10, 1995. At issue was Amendment 2 to the State Constitution of Colorado â€Å"which precludes all legislative, executive, or judicial action at any level of state or local government designed to protect the status of persons based on their homosexual, lesbian or bisexual orientation, conduct, practices or relationships† (Romer v. Evans, 1995). The U. S. Supreme court held it violates the Equal Protection Clause. The opinion in favor was filed by Justice Kennedy, while the dissenting opinion was filed by Justice Scalia. The referendum, Article II sec 30b of the Colorado Constitution, read as follows: NO PROTECTED STATUS BASED ON HOMOSEXUAL, LESBIAN, OR BISEXUAL ORIENTATION. Neither the State of Colorado, through any of its branches or departments, nor any of its agencies, political subdivisions, municipalities or school districts, shall enact, adopt or enforce any statute, regulation, ordinance or policy whereby homosexual, lesbian or bisexual orientation, conduct, practices, or relationships shall constitute or otherwise be the basis of, or entitle any person or class of persons to have or claim any minority status, quota preferences, protected status or claim of discrimination. This Section of the Constitution shall be in all respects self-executing (Romer v. Evans, 1996). While many believed the law would prevent non-federal discrimination lawsuits based on sexual orientation as well as prevent the passage or the enforcing of existing laws prohibiting such discrimination, Amendment 2’s purpose was â€Å"generally inconsistent with mainstream American values† (Debbage Alexander, pg. 264). The State of Colorado argued the â€Å"measure does no more than deny homosexuals special rights† (Romer v. Evans, 1995). This is a decades old argument that right-wing Christian groups have used â€Å"to appeal to a wider, more secular audience by characterizing the gay rights movement as one aimed at getting special rights and protected status for gays and lesbians incorporated into civil rights law† (Debbage Alexander, pg. 273). Justice Kennedy writes in the opinion in favor, â€Å"The States principal argument that Amendment 2 puts gays and lesbians in the same position as all other persons by denying them special rights is rejected as implausible† (Romer v. Evans, 1995). Justice Kennedy further states how â€Å"Amendment 2 confounds this normal process of judicial review. It is at once too narrow and too broad. It identifies persons by a single trait and then denies them protection across the board† (Romer v. Evans, 1995). The final paragraph of Justice Kennedy’s opinion declares: â€Å"We must conclude that Amendment 2 classifies homosexuals not to further a proper legislative end but to make them unequal to everyone else. This Colorado cannot do. A State cannot so deem a class of persons a stranger to its laws. Amendment 2 violates the Equal Protection Clause, and the judgment of the Supreme Court of Colorado is affirmed† (Romer v. Evans, 1995). While Justice Scalia writes in his dissenting opinion, Amendment 2 is a â€Å"modest attempt by seemingly tolerant Coloradans to preserve traditional sexual mores against the efforts of a politically powerful minority to revise those mores through the use of the laws† (Romer v. Evans, 1995). While Justice Scalia has the right to his own personal beliefs regarding homosexuality and its validity as a protected class, many others do not share them. As Richard Mohr observes in Romer v. Evans: A Blow for Justice, â€Å"All or nearly all legal burdens on gays appeal directly or indirectly to prejudice†. His article goes on to describe how in 1996 this ruling should affect two major gay issues: gays in the military and gay marriage. When opponents cannot give logical reasons for their opposition it presupposes â€Å"strongly held beliefs for which one can offer no reasons or explanations are by definition prejudicial ones† (Mohr, para. 5). With the decision of the U.S. Supreme Court, Romer v. Evans â€Å"marked an immensely important day for the gay rights movement and a major setback for anti-gay rights activists of all persuasions† according to Sharon Debbage Alexander’s article in the Winter 2002 issue of Texas Forum on Civil Liberties Civil Rights. Furthermore, this case has become one of the most significant decisions issued by the U.S. Supreme Court in regards to gay rights. The majority of those who have analyzed Romer v. Evans purport the â€Å"fact that the case was won using a rational basis test adds to the strength of the decision for gay rights† (Debbage Alexander, pg. 297). Since the decision of Romer v. Evans, President Barack Obama has overturned the â€Å"Don’t Ask, Don’t Tell† policy within our Armed Forces and gay marriage is currently under consideration in two cases that have been heard at the U.S. Supreme Court. After winning Boy Scouts of America v. Dale in 2000 protecting the groups First Amendment expressive association rights, recently the governing body of the Boy Scouts of America voted to allow openly gay scouts within its membership, but not as Scout Leaders. The important issue of gay rights in America has finally reached the forefront of public policy and debate. As in Romer v. Evans, I hope that the United States Supreme Court will rule against the State of California’s Proposition 8 and DOMA, the Defense of Marriage Act, to find both laws unconstitutional. In so far as to bring equality for all to these United States of America.

Finance Essays Tax Havens

Finance Essays Tax Havens Tax Havens Critical Analysis of Tax Havens within an International Context The following paper will offer a critical analysis of tax havens within an international context. Specifically, this paper will argue that there is both good and bad to tax havens and that favourable tax policies can both assist the host country and multinationals eager to optimize their earnings and savings. In particular, this paper will note how tax havens are often accused of creating unfair advantages for companies that are competing for public contracts; at the same time, tax haven policies in Bermuda have made that country a leading destination for e-commerce and technology firms. Moving onward, there is evidence that the offshore financial services offered by these states have given them an unimagined degree of affluence – even if it is true that tax haven status is frowned upon international organizations like the OECD. Moreover, being a tax haven is no guarantee that overseas companies will actually take the time to establish legitimate business activities in the country. Furthermore, the tax haven policies that grant generous tax rates to overseas operations have been accused of depleting the tax base of nations that are seeing their revenues drop as corporations flee for greener pastures; needless to say, this has grim consequences when one pauses to consider just how many social services are dependent upon public money for their survival. There are, of course, additional points that warrant a hearing, as well. Individuals – at least in the United States – who think they will profit from flocking to overseas tax havens may find that the long arm of the American tax code will track them down wherever they may settle; on an even more serious note, the lack of institutional transparency found in tax haven lands not only allows criminals to avoid paying taxes but allows them to carry out their nefarious money laundering schemes. Not least of all, this paper will also take the time to ponder how tax haven policies have facilitated tax avoidance on the part of the wealthy and have directly imperilled social services at the exact same time as they burden the middle class and lower class with a monumental tax burden; similarly, the generous tax policies of developing lands vis-a-vis foreign multinationals can unhappily deprive them of much-needed resources which can be put towards essential social services. Staying with the notion that there is both good and bad to be found in tax haven policies, this essay will embark on a brief discussion of the consequences upon corporations of utilizing the services of tax haven states. On one hand, tax haven states indubitably serve as a means of protecting the savings of corporations during difficult periods; on the other hand, the hidden costs associated with moving from a western land to a third world nation (all because of the tax benefits to be realized) can bear with it unexpected hidden costs that can harm valuation. One last thing this paper wishes to bring to the attention of its readers is that tax havens are not always found in developing lands – and these first-world havens can become the resting places for the savings of individuals who may not always have the best of reputations. In the end, tax havens certainly have a place in the world – but they will function infinitely better once definitive guidelines on their regulation can be drawn up by the international community and enforced rigorously by that same community. Critics of international tax havens often point to the fact that they create unfair advantages for companies competing for government contracts elsewhere. To put it another way, concerns (in the United States) have been raised that these contractors (those who have subsidiaries in tax haven countries) are at an unfair cost advantage relative to their competition insofar as they are able to lower their United States tax liability by shifting income to what is commonly referred to as ‘tax haven parent’. In a real sense, this means that powerful US corporations are shifting income from affiliates in high-tax countries to affiliates (subsidiaries) in low-tax countries so that they can reduce their overall tax burden. In 2002, the GAO revealed that 59 of the 100 biggest publicly-traded federal contractors were incorporated in a so-called ‘tax haven’ country that either did not tax corporate income or taxed the income at a rate below the American rate. Clearly, these countries have tax policies that attract American multinationals – with the technological and human resources they possess – but they also siphon money away from the US treasury at the same time as they give contractors prohibitive advantages during the bidding process. One notable example of how contractors who exploit tax haven policies in other countries have excited the wrath of American legislators can be found by looking at the case of Accenture and its ugly fight only a few years ago with Illinois law-makers. During 2004, at least four contracts awarded to Accenture were attacked by legislators because the company had taken full advantage of a loophole in the Illinois tax code that permitted corporations to shift profits to overseas locations so as to avoid paying taxes in the state of Illinois. The matter escalated in no time at all to the point where the State Comptroller was actually asking the Illinois Procurement Policy Board about the feasibility of blocking all payments to four Accenture contracts adding up to more than $2 million. On an even larger scale, the US House Appropriations Committee approved an amendment to the homeland security spending bill that effectively blocked Accenture from being a participant in the $10 billion US Visitor and Immigrant Status Indicator Technology Program. One country that has an excellent tax policy (if you are a wealthy corporation) is Bermuda. The British island dependency has no corporate income tax and is ‘tax-neutral’ in terms of how it treats holding companies. A holding company that is actually incorporated in the United States and which receives cash dividends from overseas affiliates/subsidiaries can see its gross dividends pass directly to shareholders. Because of its generous tax policies, Bermuda is now marketing itself as an e-commerce center that is perfect for international technology companies located all over the world. Not surprisingly, the Bermudan approach to attracting technology firms (and the jobs and expertise they offer) has been picked up in countries like Ireland that are keen on targeting ‘preferred’ firms. The benefits that accrue to tax haven states are sufficiently appealing that the countries employing this practice are extremely reluctant to part ways with it – even if it curries the disfavour of the international community. Most of all, the provision of what are called ‘offshore financial services’ has given these countries a measure of affluence they could not have achieved otherwise; indeed, many small island economies (referred to most commonly as simply SIEs) view the emergence of an Offshore Financial Center (OFC) as a panacea for economic disadvantage – possibly because (though it is not stated explicitly in the articles this writer has encountered) the employment opportunities that become available within the financial sector of the SIE courtesy the arrival of multinationals looking for attractive tax and financial services are undeniable. Because examples give force and vigour to any argument, it is necessary to glance at the case study of Malta. Here, the tiny nation – which does not have an over-abundance of natural or human resources by any means – has become renowned for its status as a tax haven; more significantly, it has parlayed its generous tax concessions to foreign investors and companies into a situation wherein its financial services sector is burgeoning at a robust rate. Specifically, 12 percent of Malta’s GDP was to be found in the financial services sector in 2004 and the sector employed about 6,000 local residents. Another good example of a country that has rescued itself from a troubling financial situation by turning itself into a tax haven is the Isle of Man. Other research reiterates the idea that tax haven policies have a beneficial impact upon a country’s economic health. For example, whilst major tax havens have actually less than one percent of the world’s population (excluding the United States), and whilst they have (as of 2005) only about 2.3 percent of the globe’s gross domestic product or GDP, they nonetheless ‘host’ 5.7 percent of the foreign employment and 8.4 percent of the equipment, plant and property of American companies. At the same time, the per capita real GDP in the tax haven nations grew by a healthy rate of 3.3 percent in the years 1982-1999 – almost 2.5 times the world average. Furthermore, in spite of fears that the combination of small populations and relative affluence in these lands would precipitate the creation of even larger governments, the reality is that the ratio of government to GDP in these locations is fairly reasonable. Possibly prompted by the Bermudan example and by a few other states identified as ‘high priorities’, the OECD set about defining a tax haven in a seminal 1998 paper that continues to reverberate to this day. Most significantly, a tax haven country has a policy of not imposing taxes (or only nominal ones); offers itself or is viewed as offering itself, as a place that permits non-residents to escape taxation in their homeland (or nation of residence); does not have an effective exchange of information with outside parties; lacks transparency; and attracts businesses with no ‘substantial’ activities – these last two criteria, especially, will be touched upon at various points later in this paper. In the defence of these two states, each one does impose indirect taxes; for instance, Bermuda has a fairly hefty payroll tax and also places taxes upon on all goods purchased on the island. Nonetheless, only the most ardent supporter would suggest that these two countries fail to rise to the level of tax-haven states. In terms of attracting foreign multinationals, tax haven policies are difficult to beat. However, critics charge that countries like Bermuda do not simply attract ‘real’ economic investment but also ‘brass plate’ or ‘booking operations’ that are characterized by a lack of actual business activity; in other words, international organizations like the OECD become suspicious when they see companies locating to places like Bermuda (or even Ireland) which do not have a lot of business-related action taking place. For countries that are trying to attract jobs as well as foreign capital, it would seem as though having tax haven policies can be a bit of a double-edged sword in the sense that a) other countries are sharply critical towards their ‘preferential’ taxation practices and b) these policies may not attract the jobs the aforementioned countries are hoping for. In fairness, tax haven policies in the United Arab Emirates (specifically, in the port city of Dubai) have attracted plentiful foreign investment on a scale that has (amongst other things) allowed the city to develop its communication and infrastructural capabilities while simultaneously wooing upscale tourists. One other problem with tax haven policies that offer low or non-existent tax rates is that international organizations like the OECD have asserted that they undermine the tax base (presumably of the countries that are seeing businesses flee elsewhere) and erode public services; in fact, ‘harmful’ tax competition has been compared to competitive devaluations and to tariff wars. To expand on this last point, the OECD (in 1998), released a study which argued that tax haven countries divert large amounts of foreign direct investment and ‘taxable income’ away from OECD member states. The tension between the OECD and tax haven nations has long threatened those lands trying to give corporations and individuals advantageous tax rates as well as the benefits of greater privacy. However, there is some sense that this tension is dissipating as more and more tax haven states belatedly embrace international best standards of practice. Be that as it may, only the most wildly optimistic person would dare say that the current hostility between the OECD and small tax haven states is not problematic; the willingness of the above-mentioned countries to cut multinationals ‘slack’ in terms of what they pay in the form of corporate taxes has raised the ire of the OECD and the powerful western nations which comprise its membership to such an extent that real political and even diplomatic problems could still linger in the future. To get to the heart of the problem, the OECD’s penchant for naming transgressors and then ‘shaming’ them in the court of international opinion has been perceived as bullying in some quarters; certainly, the nations that are targeted – or have been targeted – by the OECD are small, politically and economically weak and burdened with limited economic prospects, save for the financial services and tax breaks they offer to foreigners. One can maintain that a lot of this tension would simply go away if the countries engaging in tax haven policies and practices would cease their current practices – but that ignores the reality that these countries need the financial benefits that accrue from such activities; moreover, it is worth asking what the financial implications will be for multinationals and for the communities in developing lands that benefit – even if indirectly – from their presence. Individual Americans who think that tax havens are the perfect thing for them should give the idea a bit more thought: tax haven nations may be enticing in many respects, but US tax law makes it hard for individuals to spirit money somewhere else in the expectation they will not have to pay. For instance, US citizens are taxed on their world-wide income: the tax breaks found in places like the Caribbean, Luxembourg, or the Caymans do not apply to individual US citizens – just corporations. Furthermore, an offshore partnership aimed at mitigating the tax burden will not work for US citizens: the ‘rules’ simply assume that the private citizen earned so much money each year and do not view any profit from the partnership as being a simple long-term capital gain; as such, interest is added onto the taxes that the private US citizen must pay the government. As if that is not bad enough, the capital gains arising from the partnership is taxed as regular income and not as capital gain – which means higher tax rates in the end. Beyond what has been discussed above, individuals and companies using tax havens to avoid paying taxes may not simply be doing this sort of thing to spare themselves at tax time: money launderers like tax haven countries like the Bahamas because of the fact they disclose little information about the companies or individuals doing business within their environs; additionally, money launderers tend to exploit tax havens to the fullest extent possible. For all intents and purposes, tax haven policies really make life easier (though not trouble-free) for criminals eager to avoid the prying eyes of government. As an addendum, it must be mentioned that the United States government has recently taken action to reduce the ‘pay-off’ for wealthy individuals eager to exploit tax shelters. Remaining with America for just a while longer, the matter of off-shore tax havens has become so important to the United States government that exhaustive legislative hearings on this very matter have become de rigueur in recent years. Yet another challenge posed by tax havens is that they are so difficult to tackle from a legal point of view – something that clearly favours criminals at the same time as it grossly disadvantages law enforcement. To elaborate, at least one noted scholar has commented that it is well-nigh impossible to formulate a universal definition of a tax haven that can be used to effectively combat the fiscal abuses associated with this global phenomenon. Until such time as the international community comes to a universal understanding of the concept of a tax haven, criminals can feel reasonably secure that there will be at least a few places on earth willing to embrace them and their tawdry ‘business’ pursuits. Despite the conceptual challenges posed, the United States – as much as any nation – has decided that it has had quite enough of the tax evasion and money-laundering activities characteristic of tax haven nations with their generous tax avoidance policies. Recent court decisions in the US have expanded the power of US states to tax the income of corporations that do not have a ‘physical lexus’ with the state. In essence, the courts have taken the position that an out-of-state corporations so-called ‘in-state economic presence’ renders the absence of a physical presence (headquarters or office buildings or any kind of physical structure at all) entirely irrelevant as to determining the state’s capacity to pursue that corporation for money. Another problem that tax haven policies bring is that they give the wealthy one more means by which they can avoid paying their full weight in taxes. In essence, tax havens provide tax avoidance options to companies and to wealthy individuals; as a result, the tax burden ultimately ends up being borne (more and more) by the middle class and by those with fewer financial resources. Suffice it to say, as the rich grow richer while the poor grow poorer (courtesy onerous tax burdens), the ability of the poor to invest in education plummets. Over time, this can lead to a general decline in productivity – a decline causing great harm to the country that is unable to keep the rich from exploiting one tax avoidance scheme after another. The grim consequences of tax havens upon nations that are seeing the ‘flight’ of capital resources to far-off places reaches beyond just imposing a greater burden upon those ill-equipped to shoulder that burden; tax havens also imperil social services that are already under attack in an age of neo-liberalism. For example, in early 2005, it was reported that Canada’s top 5 banks shifted about $10 billion to offshore tax havens in the period from 1991 to 2004. According to the academic who headed up the study, the utilization of offshore tax havens and shelters is tantamount to engaging in economic terrorism insofar as the monies lost make it difficult (with the potential to be impossible) for the government to finance social programs that need public funds to survive. Despite the protestations of the banks in question that their foreign-based subsidiaries located in tax-haven lands such as Malta, Barbados and the Cayman Islands are simply a means of taking advantage of the competitive tax policies located overseas, the report stresses the aforementioned dollar figure and the fact that the total number of subsidiaries for the ‘big five’ stood at 73 as of the end of 2004. Nor is the problem of tax avoidance confined just to wealthy western nations that are finding it increasingly difficult to provide appropriate social programs in an era when their populations are aging at an alarming rate: in countries that feature (or have featured in the past) tax haven policies, the government is often unable to collect all the taxes it would like to service all the social programs it would like. For instance, whilst Chile has long been the most attractive country in the world when it comes to mining and direct investment in this field, the world’s leading copper producer also does not charge a royalty on the extraction of its most precious natural resource and its taxes are incredibly low – and sometimes non-existent because of legal accounting loopholes that allow for generous write-offs for things like equipment. Tax haven policies appear to offer many positives and more than a few negatives – something this paper has noted time and again. While it can be argued a number of different ways, one would be remiss not to point out that private equity firms (or maybe any firm) doing business in a country in the midst of a financial downturn can – and certainly have – used offshore tax havens to shelter the profits on their investments; American equity firms, as a matter of fact, did precisely this during the late 1990s to protect their investments in Korean financial institutions. Given what has been described in the last paragraph, it is tempting to say that companies which move their operations abroad to escape paying taxes at home benefit handsomely from the transfer; after all, why leave the technologically-advanced, human resource-rich and affluent west for a small or developing peripheral economy unless (amongst a few other reasons) the organization’s senior thinkers were intent upon saving as many dollars as possible from the taxman? Unfortunately, the expected tax savings do not automatically exceed the non-tax costs associated with the above-mentioned move; if anything, the decision to set up new subsidiaries (or to pick up stakes and move elsewhere) has manifested negative repercussions in the form of hidden and unexpected costs that negatively impact firm valuation. Proceeding along, it is commonly heard – maybe less so than in the past – that tax haven nations are predominantly nations that are less developed than those countries found in the west; the truth, though, is rather more different. Difficult as it may seem, even affluent western nations can properly be described as tax havens – the United Kingdom being the best example. In London in particular, the favourable tax laws are such that many Russian elites – who, in some instances, have reputations that warrant a bit of polishing – have injected vast sums of capital into the local economy. At the same time, London (and the United Kingdom in general) is not alone: Switzerland has also attracted plenty of Russian capital and it seems as though the two are responsible for the staggering flight of roughly $102 billion from Russia between 1998 and 2004. Again, the money that flows out of Russia now is the kind of money that could be directed towards such things as social programs and the like.

LVMH

LVMH 1. TASK 01 1.1. INTRODUCTION TO LVMH For this assignment, I ideally considered an organization named LVMH. LVMH LVMH Moà «t Hennessy Louis Vuitton S.A. (Euronext: MC), usually shortened to LVMH, is a French holding company and the worlds largest luxury goods conglomerate. It is the parent of around 60 sub-companies that each manage a small number of prestigious brands These daughter companies are, to a large extent, run autonomously. The group was formed after mergers brought together champagne producer Moà «t et Chandon and Hennessy, a leading manufacturer of cognac. In 1987, they merged with fashion house Louis Vuitton to form the current group The group is controlled by the Christian Dior group, which owns 42.4% of shares and has over 58% of voting rights. Bernard Arnault, majority shareholder of Dior, is Chairman of both companies and CEO of LVMH. His successful integration of various famous aspiration brands into the group has inspired other luxury companies into doing the same. Thus Gucci (now part of the French conglomerate PPR) and Richemont have also created extended portfolios of luxury brands. The oldest of the LVMH brands is wine producer Chà ¢tea dYquem, which dates its origins back to 1593 .(http://en.wikipedia.org) Corporate structure LVMH is based in Paris, France. The company is listed on the Euronext Paris exchange and isa constituent of the CAC 40 index. As of 2008, the group revenues of â‚ ¬17.2 billion with a net income of â‚ ¬2.318 billion. The group currently employs 77,000 people. 30% of LVMHs staff work in France. LVMH operates over 2,300 stores worldwide. Its current business plan aims to tightly control the brands it manages in order to maintain and heighten the perception of luxury relating to their products. For example, Louis Vuitton products are sold only through Louis Vuitton boutiques found in upmarket locations in wealthy cities or in concessions in other luxury goods shops (such as Harrods in London). This practice contrasts greatly with less exclusive brands which can be bought in shopping malls around the world (http://en.wikipedia.org) Shareholders At the end of 2008, the only declared major shareholder in LVMH was Groupe Arnault, the family holding company of BernardArnault. The groups control amounted to 47.42% of LVMHs stock (with 42.42% held through Christian Dior S.A. and 5.00% held directly) and 63.40% of its voting rights (58.02% by Dior and 5.38% directly). A further 3.4% of shares were declared as treasury stock, with the remainder being free float .(http://en.wikipedia.org) DEPARTMENTS OF LVMH * Wines Spirits * Fashion Leather Goods * Perfumes Cosmetics * Watches Jewelry * Selective retailing (Annual report LVMH-2008) MISION AND VALUES OF LVMH * Be creative and innovate * Aim for product excellence * Bolstertheimageofourbrandswithpassionatedetermination * Act as entrepreneurs  · Strive to be the best in all we do (Annual Report LVMH-2008) Definitions of Human Resource Management Human recourse management is a strategic and coherent approach to the management of organizations most valued assets: the people working there who individually and collectively contribute to the achievement of its objectives. (Michael Armstrong, a Hand book of Human Resource Management 2003) The HRM models are 1. The Matching model of HRM 2. Harvard model of HRM 3. Best practice model 4. The contingency model 5. Guest model of HRM 6. Warwick model of HRM 7. Storey model of HRM We can use Matching Model for LVMH Models of HRM 1. The matching model The Michigan model is also known as the matching model or best-fit approach to human resource management. In essence, it requires that human resource strategies have a tight fit to the overall strategies of the business. As such, it limits the role of HR to a reactive, organizational function and under-emphasizes the importance of societal and other external factors. For example, it is difficult to see how the current concern for work life balance could be integrated into this model. Fombrun et al identified four common HR processes performed in every organization: * Selection: matching people to jobs * Appraisal of performance * Rewards: emphasizing the real importance of pay and other forms of compensation in achieving results * Development of skilled individuals These processes are linked in a human resource cycle. The matching model has attracted criticism. At a conceptual level, it is seen to depend on a rational, mechanical form of organizational decision-making. In reality, strategies are often determined and operational zed on a more intuitive, political and subjective level. Certainly, the decision-making is more complex than the model allows. It is also both prescriptive and normative, implying that the fit to business strategy should determine HR strategy (Bratton, J.,Gold, J., Human Resource Management p-18)) Resource based Strategy The resource-based view of strategy is that the strategic capability of a firm depends on its resource based capability. Resource-based strategy theorists such as Barney (1991) argue that stained competitive advantage stems from the acquisitions and effective use of bundles of distinctive resources that competitors cannot imitate. As Boxall (1996) comments; ‘competitive success does not come simply from making choices in the present; it stems from building up distinctive capabilities over significant periods of time. Teece et al (1997) define ‘dynamic capabilities as ‘the capacity of a firm to renew, augment and adapt its core competencies over time. (Michael Armstrong,2000, Strategic Human Resource Management, p-33) Best Practice The ‘best practice rubric has been attacked by a number of commentators. Cappeelli and Crocker-Hefter (1996) comment that the notion of single set of best practices has been over stated: There are examples in virtually every industry of firms that have very distinctive management practices. We argue hat these distinctive human resource practices hlp to create unique competencies that differentiate products and services and, in turn, drive competencies that determine how firms complete. Purcell (1999) has also criticized the best practice or universalist view by pointing out the inconsistency between a belief in best practice and the resource based view, which focuses on the intangible assets including HR, that allow the firm to do better than its competitors. He asks how can ‘the universalism of best practice be squared with the view that only some resources and routines are important and valuable by being rare and imperfectly imitable?. The danger, as Legge (1995) points out, is that of ‘mchanistically matching strategy with HRM policies and practices. Accordance with contingency theory, it is difficult to accept that there is any such thing as universal best practice. What works well in one organization will not necessary work well in another because it may not fit its strategy, culture, management style, technology or working practices. As Becker et al (1997) remark: ‘organizational high-performance work systems are highly idiosyncratic and must be tailored carefully to each firms individual situation to achieve optimum results. (Michael Armstrong, 2000, Strategic Human Resource Management, p-65) Best Fit For the reason given above, it is accepted by most commentators that ‘best fitis more important than ‘best practice. There can be no universal prescriptions for HRM policies and practices. It all depends. This is not easy to say that ‘good practice, ie practice that does well in one environment, should be ignored. Benchmarking has its uses as a means of identifying areas for innovation or development that are practiced to good effect elsewhere. But having learned about what works and, ideally, what does not work in comparable organizations, it is up to the firm to decide what may be relevant in general terms and what lessons can be learnt and adapted to fit its particular strategic and operational requirements. The starting point should be an analysis of the business needs of the firm within its context (culture, structure, technology and processes). This may indicate clearly what has to be done. Thereafter, it may be useful to pick and mix various ‘best pract ice ingredients and develop an approach that applies those that are appropriate in a way that is aligned to the identified business needs. But there are problems with the best-fit approach, as pointed out by Purecell(1999) who, having rubbished the concept of best practice, proceeded to do the same for the notion of best fit: Meanwhile, the search for a contingency or matching model of HRM is also limited by the impossibility of modeling all the contigent variables, the difficulty of showing their interconnection, and the way in which changes in one variable have an impact on others. In Purcells view, organizations should be less concerned with best fit and best practice and much more sensitive to processes of organizational change so that they can ‘avoid being trapped in the logic of rational choice. (Michael Armstrong, 2000, Strategic Human Resource Management, p-66 ) Human Resource Management VS Personal Management Human resource management was first known as personnel management. However the present status of the field of human resource management has been achieved after years of evaluating development. In personnel management people were manage stick administration but in human resource management people are consider resources, develop people and get them to manage them self. Organizations now consider the human resource as a resource that could be developed rather than just be managed. Personnel management is more administrative in nature, dealing with pay roll, compiling with employment law and handling related task. Human resources on the other hand are responsible for managing the work force as one of the primary recourses that contribute to the success of the organization. Personnel management manages people by strict administrative system but human resource management considers people as a resource that can be developed.eg; Train and developed persons. Personnel management is less concentration on employees future potential and getting the best from employees through training, development and motivation. but other hand of human resource management identifies employees potential, areas for improvement, strength and weaknesses identifies training needs and trains them achieves result through motivation and job satisfaction. Human Resource Management from a strategic perspective and its implications for the role of the line managers and employees Human resource management is very important to build up relationship between line managers and employees. Below I mentioned area of covering strategic human resource activities. * Policy making. * Designing and developing human resource strategies. * Contributing to the corporate plan of the organization. * Integrating human resource activities to the main purpose of the organization. * Job evaluation. * Salary administration. * Incentives and benefits. * Grievances handling. 1.2. APPLY GUEST MODEL OF HUMAN RESORCE MANAGEMENT TO LVMH LVMH using human resource management functions for build up their business. Especially they apply guest model for following functions. They are using human resource strategy for innovation the company. Regularly they check other retailers of the market. After that they focus their business for current market. Normally they evaluate the cost of product. Some time they control the unnecessary cost per product. eg; they searching current market and stopping over production Human resource management practices; LVMH specially using human resource practices for recruitments. They are choosing correct person for correct job category. They offered training period for new employees. Always management evaluating employees and giving rewards for them. eg; bonus Human resource outcomes; They always get ideas from customers and offers range of options for flexible working. eg; part time work, career break Behaviour outcomes; The management always evaluating workers and motivate them. It has good team workers. Every time they corporate with others and helping them. Performance outcome; LVMH evaluate everybody performance and using some human resource practices for increase productivity. Human resource department discuss with employees and this time reduce their absenteeism and labor turn over. Critically evaluate the Guest model of human resource management Human resource management is deferent from traditional personnel management. However, Guest has acknowledged that the concept of commitment is messy and that the relationship commitment and high performance is difficult to establish. The strength of the guest model is that it clearly maps out the field of human resource management and classifies the input and comes. The model is useful for examining the key goals usually associated with the normative models of human resource management; strategic integration, commitment, flexibility and quality. 2. TASK 02 2.1. Aim/Purpose: Why have a Strategy? To set the context for learning and development within the LVMH to answer the questions that staff, managers, and customers might have: * Why is learning and development important? * How does learning ‘fit in with staff roles, delivery of key services? * What does the LVMH mean by learning and development? How do staff and managers make sure they have the learning they need? The aim of this strategy is to provide a practical map and guide of how learning and development supports the work of the LVMH, at an individual, team and organizational level. The strategy aims to set out the current aims and objectives and also map the future so that there is a ‘vision of how learning and development will support the LVMH both now and in the future across Provider and Commissioning. The purpose then is to provide a framework for learning for LVMH which will: * Set out the LVMHs commitment to providing learning and development for all staff * Ensure that staff are equipped with appropriate skills, experience and support to enable them to continue to provide high quality care and services * Ensure that processes are in place for staff to achieve their potential and that individual contributions are valued and acted upon * Ensure that staff identify training needs and undertake appropriate training as part of their role and that training needs are identified at an individual, team and organisational level * Ensure that high quality training and development is commissioned as needed * Effective learning and development processes and systems are in place that are accessible and clear. 2.2. Supporting the LVMH to deliver its strategic aims and objectives The LVMHs key strategic aims are to: Engage with the target customers and their needs. Commission a full and equitable range of high quality, responsive and efficient services, within allocated resources, across all service sectors. Directly provide high quality responsive and efficient services where this gives best value. The achievements of the strategic aims are supported by a set of key values. LVMH values are the qualities, standards and principles that the LVMH believes will help it and its staff to succeed. The values are: Be creative and innovate Aim for product excellence Bolstertheimageofourbrandswithpassionate determination Act as entrepreneurs Strive to be the best in all we do 2.3. Core principles for Learning and Development across the LVMH: * To provide opportunities for learning, high value of skills about international marketing, personal development and skills enhancement at all levels. There is a need to widen participation to ensure lower band staff have the development they need * To encourage continuous learning and space for innovation and creating something new so that services are adapted and improved as a result of learning * To be more than fit for purpose but in pursuit of excellence * Endorse the principles of becoming a Learning Organisation * Identify a systematic process and framework for identifying, planning, delivering and evaluating learning and development at an individual, team and organisational level * Support and develop a culture that encourages confidence, motivation and creativity in staff allowing them to be innovative, take risks and realise their full potential * Ownership of learning and development by individual members of staff so that they can see the value of learning and how it will support them * Staff are our ‘customers. The learning and Development team need to ensure that effective feedback and quality assurance processes are in place * To be able to measure success The strategy should: * Mean something to staff and Managers, be ‘live and real and practical, mapping the current and future picture and progress * Be organic in that the Learning and Development team continually assess and change the strategy and vision through its own learning * The Learning and Development strategy should strengthen and be integral to the LVMH organisational objectives and performance management frameworks * Identify localised examples. 2.4. Learning and Development: Strategic Aims and Objectives To Meet PCT Commissioner and Provider Strategic Aims, Values and Vision Ensure staffs are working safely and competently and have the skills and knowledge they need to deliver high quality services: * Deliver first class Induction * Provide high quality marketing Training * Ensure all staff are attending Statutory /Mandatory training * Ensure store Supervision systems, training is in place * Develop IT skills of our staff Support the LVMH to develop the workforce of the future: * Work with Provider and Commissioning Directorates to support development of LVMH into the future * To work with HR and OD Director to embed values of the LVMH through education and training systems and processes * Support the development of new roles * Identify training and development for new services as they are developed * Support the workforce planning agenda Support the LVMH in the delivery of its Inequalities Agenda * To ensure integrated working with Public * Ensure Equality monitoring and performance targets are met * To provide an equality and diversity training programme for all staff * Complete an Equality Impact Assessment on the Learning and Development function * Develop systems to include staff feedback into improving learning and development within the LVMH Develop first class leaders and managers within the Provider and Commissioning arms of the LVMH * Identify management and leadership strategy for all managers at appropriate bands * Delivery of in house leadership programme * Develop a management skills programme, identify skills / competencies for Managers * Develop and provide Team Leader Training * Support Managers to access external management and leadership programmes as appropriate * Develop mentoring, coaching and shadowing for staff * Provide training and support for Managers in Skills Knowledge to manage change efficiency and confidentially Delivering high quality, innovative and creative learning opportunities Support the LVMH to become a learning organisation and embed the philosophy of the teaching lvmh * Promote the principles and philosophy of the learning organisation and the teaching LVMH * Embed the learning culture * Encourage new ways of learning, training, e-learning * Support the organizational development agenda * Develop work with neighboring LVMHs Ensure accessible and excellent high quality training, learning and development provision is in place * Develop the LVMHeducation and training team and service * Commission training and development, both now and in the future * Development of ‘self service training administration system * Ensure effective systems and processes are in place * Development of Learning Centres and accessible ways of learning Develop a Quality Assurance framework for Learning and Development * Demonstrate the value of learning within the organisation * Benchmark against competitors * Develop measurable standards for learning and development processes * Ensure robust data collection and reporting * Develop a system for feedback from staff, partners ‘customers * Quality assurance, monitoring, evaluation systems put in place eg. i. Train the trainer, standards of delivery for trainers ii. Contracts for external trainers iii Staff and partner organizations iv Staff questionnaire/feedback Use existing resources creatively and plan resourcing for the future such as * LVMH training budget * Income generation * Sponsorship / grants 2.5. Standards Service Standards will be included for each strategic objective and identified in the work programme. 2.6. Responsibilities / accountability: Training Governance All members of staff have a responsibility for their own learning and development, supported by Managers and the Learning and Development Team. For detailed guidance on roles and responsibilities on identifying learning and development 2.7. Success Criteria: benchmarking, quality assurance processes: How will we measure Progress and Achievement? * Through regular reviews of the Work Programme * On going consultation with staff * Evaluation and collation of feedback 2.8. Review and Monitoring Quarterly review of strategy and work programme may monitor by Human Resources Committee. 3. TASK 03 3.1. RECRUITMENT Recruitment refers to the process of attracting, screening, and selecting qualified people for a job at an organization or firm. For some components of the recruitment process, mid- and large-size organizations often retain professional recruiters or outsource some of the process to recruitment agencies. The recruitment industry has five main types of agencies: employment agencies, recruitment websites and job search engines, headhunters for executive and professional recruitment, niche agencies which specialize in a particular area of staffing and in-house recruitment. The stages in recruitment include sourcing candidates by advertising or other methods, and screening and selecting potential candidates using tests or interviews. (Armstrong, Michael (2006). A Handbook of Human Resource Management Practice) SELECTION Selection is the process used to identify and hire individuals or groups of individuals to fill vacancies within an organization. Often based on an initial job analysis, the ultimate goal of personnel selection is to ensure an adequate return on investmentin other words, to make sure the productivity of the new hire warrants the costs spent on recruiting and training that hire. Several screening methods exist that may be used in personnel selection. Examples include the use of minimum or desired qualifications, resume/application review, oral interviews, work performance measures (e.g., writing samples), and traditional tests (e.g., of job knowledge). The field of personnel selection has a long history and is associated with several fields of research and application, including human resources and industrial psychology. Recruitment and Selection of LVMH They are based on higher requirements for professionalism in the evaluation and selection methods, while offering candidates a unique experience that gives them useful feedback for their professional development. Not only are technical skills assessed, but also the ability to produce and communicate results, the ability to work in a group, the ability to have a strategic vision while knowing how to make a daily commitment and, finally, the potential to become an enterprising leader motivated by a desire for ongoing improvement. Assessment of these aspects is made by LVMH group managers through interviews as well as individual and group role plays. At the end of this intensive day, whatever the result, each candidate receives several in-depth analyses to assist him or her in understanding how he or she was perceived and the contents of the assessment. Essential of international recruitment of LVMH Sustained development of all LVMH activities enabled multiple jobs to be created in 2008 across the Groups companies and brands: Wines Spirits, Fashion Leather Goods, Perfumes Cosmetics, Watches Jewellery, and Selective Retailing. LVMH has 77,087 employees worldwide, with the average number of employees over the fiscal year up 9.5% compared to the previous year. Through its policy of selling products with the â€Å"made in France† label, LVMH ensures that industrial jobs are maintained in France. The breakdown of the Groups workforce by geographical region is stable and balanced. 74% of the workforce is employed abroad, essentially in the distribution networks of Europe, the Asia-Pacific region, and North and South America. Workforce of LVMH by geographic region 26% France 19,737 22% Rest of Europe 17,226 22% United States 16,723 6% Japan 4,929 19% Rest of Asia 14,831 5% Other markets 3,641 Total 77,087 (Source; LVMH Annual report-2008) There are 74% of employees working internationally. Therefore international recruitment is important to LVMH. They are expecting a personal development within a professional, responsible team in the organization. identifying with the values of a company is a major element in attracting and motivating the men and women who join LVMH and invest themselves in the Group. The Group presents its corporate responsibility policy during the initial contact with candidates, for example during recruitment forums. The explanation of this policy is part of the integration process. The prevention of psycho-social risks in their orientation manuals or employee manuals, like DFS Group, Fendi or Glenmorangie. However they have consider the expectations and motivation of the teams. Access and continued employment for older employees is also a constant concern, consistent both with the Groups policy on diversity and with its International Recruitment at LVMH Here LVMH can find a step-by-step guide to recruitment. International Recruitment Deployment e follow the extensive International Recruitment process as follows: Stage 1:Advertisement using print media and internet including job display on our Job portal Stage 2: Screening of applications received in response to advertisement. Stage 3: Short listing, scrutinizing data according to the skills, knowledge and aptitude desired for the job. Stage 4: Test Interviews Stage 5:Selection Stage 6:Reference Check Stage 7:Completing the Visa/Administrative Process following the acceptance of Job offer by the candidate. Stage 8:Travel arrangement and deployment of the candidate to job location. (http://www.habsons.net) Selection Methods (Tests, Exercise, Presentations) The most popular selection method is Interviewing ; however the decision making process at Interviewing panel stage will be improved if information additional to that obtained from the application form, CVs, references (for academic and research posts) and interview is available. It is therefore desirable that the selection process includes an additional selection exercise/test. This should be designed to gather information about the ability of short-listed candidates to carry out the specific duties of the post by testing aspects of the Person Specification, which cannot easily be evaluated by an interview or reference. Some examples of selection exercises are given below, all of these would need to be carried out in accordance with good practice in Equal Opportunities: In setting up and running selection exercises the following principles should be followed: Nature of Post: Selection Exercise: Research posts Candidates could be asked to deliver a seminar, give a departmental presentation or write a report Posts that require supervisors skills Candidates could be asked to take part in a supervisory role play General: The assessment of performance from selection tests must be made on a predetermined set of factors, rather than vague generalizations, using set criteria will enable an objective assessment of the test set; There should be a clear understanding of what is being tested and what status the test/exercise has within the overall selection process; If the test/exercise involves using a software package, experience of using that specific software package must have been included in the selection criteria for the post; The test/exercise must be designed to provide an equal opportunity for each candidate to demonstrate his/her abilities, in accordance with the Equal Opportunities Employment Policy; Where appropriate, selection tests/exercises must be adapted for a candidate with a disability. For further guidance on this the Recruitment Manager or HR Manager should be contacted; The test/exercise must be properly planned in advance with each candidate given full information on what is involved and sufficient time for any preparation required; The test/exercise must not be biased in favor of internal candidates, i.e. it should test basic principles in relation to the post, not knowledge of internal procedures; The information gathered from a selection exercise will only relate to a limited number of the overall requirements of the post and the results must be judged in this context. However, if an essential criterion for the post is being tested e.g. numeracy and the required standard for the test is not met then the results must not be ignored; Objective criteria should be used to score the test that has been set and all information relating to the test should be reported in a standard and consistent format to Interviewing panel. If there are any factors which may have influenced a candidates performance e.g. inter