Challenges Caused by the Knowledge Economy

Challenges Caused by the Knowledge Economy With reference to the concept of the corporate curriculum, how far do you consider an organisation with which you are familiar to be meeting the challenges presented by the knowledge economy? Introduction: With the emergence of the new knowledge-based economy, organisations are slowly starting to see a new need to apply knowledge management practices and principles to their corporate curriculum. In todays competitive landscape, organisations must develop different capabilities and strategies in order to meet the demands of the knowledge economy. In order to do this, firms must be able to effectively deploy, utilize and manage knowledge. Knowledge management can be harnessed to foster learning in the organisation. It is also important to identify and use knowledge through strategic capabilities, knowledge productivity, and corporate curriculum. Managers of today should think critically about the use of learning and knowledge processes in order to be successful. Increasing globalization, continuous improvements in technology and growing competitiveness of the different industries around the world are just some of the pressures which are forcing some organisations to streamline their business processes and utilize not only their traditional and competitive resources but also their collective knowledge. Every organisation survives in an atmosphere that conditions the way the organisation carries out its business. There are business drivers that have influenced how organisations behave towards knowledge management. The airline industry as a member of the professional services sector recognizes knowledge as a product, people as primary source, mobile workforce and mergers are some of its key business drivers (Abel and Oxbrow, 2001). Learning and Knowledge Management There are many ways to define knowledge management as much as there are a lot of approaches to implementing it and using it. In the context of learning, Alavi and Leidner (2001) describe knowledge management as a dynamic and continuous organisational phenomenon that involves distinct but interdependent processes of knowledge creation, knowledge retrieval, knowledge transfer, and knowledge application. Ponniah (2001, p. 54) defines knowledge management as a systematic process for capturing, integrating, organizing, and communicating knowledge accumulated by employees. He further describes it as a vehicle to share corporate knowledge so that employees may be more effective and be productive in their work. In every organisation, innovation or learning occurs as a result of the flow and transformation of knowledge and other intellectual assets. Accordingly, innovation, whether reorientation or variation, is a reflection of the internal organisational positioning of the firms innovative unit, the character of technological interdependencies in a particular innovation, and the character of knowledge and technological interdependencies (Goodman and Lawless, p. 240). According to Andreu and Sieber (2001, p. 61), differences in knowledge led to differences in learning. For organisations, it is important to have a clear idea about what types of knowledge are present in individuals within the organisation. It is also important for organisations to incorporate relevant knowledge from the environment so that they are capable of offering to potential clients whatever becomes standard in the marketplace. Nonaka (1991) says there is another way to think about knowledge and its role in business orga nisations. He cites as examples some Japanese companies like Honda, Canon, and Sharp. He says that managers of these firms tap on the tacit and often highly subjective insights of employees which often results to a spiral of knowledge at continuing higher levels and it is not simply the processing of factual information. As organisations grow, the level of learning and the quality of knowledge becomes more important and critical to the business inputs and processes. Andreu and Sieber (2001) support this fact by saying that it is the interaction of individuals in a group and therefore the collective character of work in organisations that gave rise to the concept of organisational learning. It is also through organisational learning that organisations are beginning to see the impact of using intellectual assets as another means to fight their way out of the doldrums. Challenges of the Knowledge Economy The information age is marked by the rise of mass customization, dynamic processes, virtual organisations, and a whole set of new practices and administrative structures enabled by global communications and information systems (Meadows et al, p. 38). The essential resources to consider in todays knowledge economy therefore are knowledge, labor, and organisational capabilities (Meadows et al). In an economy that is becoming increasingly driven by new shifts in technology and competition, it is no longer possible for traditional organisations and industries of today to concentrate on their static assets. They must constantly move their resources and adjust to certain communications structures, management practices, personnel development, and sales and marketing strategies. The increasing rates of change, increasing global competition, a more diverse workforce, a more demanding and satisfaction-conscious customers are just some of the challenges that organisations are facing today as they make a transformation from an industrial organisation to a knowledge-based organisation. The greater challenge however lies on how to use knowledge in order to bring out innovative ideas and create more value for the organisation and trigger product and services differentiation. The Corporate Curriculum For an organisation to meet the challenges presented by the knowledge economy, learning and development should be incorporated in the overall corporate plan and business process. The organisation must adopt a corporate culture which integrates the transformation of the organisation using the available intellectual and the internal and external knowledge assets with the corporate development process. Formalized training programs should include a corporate curriculum plan match with the prevailing job and managerial skills of individual members of the organisation to the needs of the entire organisation. It should also provide an avenue for knowledge and the entire learning processes to flourish and help the organisation sustain its competitive edge. There should be programs for enhancing the strategic communication which would guide managers and employees on the how to communicate the mission-vision and the corporate strategy to different levels and departments of the organisation. It should also be able to skillfully impart its mission-vision and guiding principles to its members and clients as well. Programs should also showcase the effective management skills which come with the recruitment and selection process of employees, encouraging motivation, giving due and just compensation, providing coaching and training programs, and enhancing the performance management. Using human resources and learning methods for knowledge management purposes include knowledge management awareness and development of a knowledge sharing attitude and skills as part of a corporate curriculum (Efimova and Swaak). Leadership and personal development should be able to help define the dynamic character of a leader and enhance leadership styles and approaches suitable for the organisation and its environment. It should also help enhance team building activities and help and empower members of the organisation to take charge of their own career development. Sales and Marketing courses should help improve the negotiating and selling skills and market analysis and planning skills as well. Service Excellence should be able to make changes to certain strategies in order to improve customer satisfaction and allow room for a creative problem solving strategy. In this paper, Singapore Airlines (SIA) was chosen as the organisation of choice because the company operates in an emerging economy of Asia which offers an ideal situation in which to discuss the challenges encountered in an evolving knowledge economy. The company is also recognized as an innovation-based organisation that places strong emphasis on value creation through knowledge (Goh, 2005). Strategic Communication Large organisations like SIA take into account the importance of having good communication strategies in order to bring their messages across their members located in different cities and subsidiaries around the world. Kaufman says that SIA publishes a variety of newsletters and company-wide magazines on top of having regular dialogue sessions between management and staff. New suggestions are constantly heard and put forward in different business meetings which was then called Staff ideas in Action (Kaufman). This scheme ensures that feedback from front-line workers was taken into consideration when improving the delivery of services and products. Internal staff communication and information dissemination with employees is also encouraged through a variety of regular departmental meetings (Goh, 2005). These meetings provide the forum for further evaluation of sales, yields and customer satisfaction levels. Goh (2005) adds that over the years, SIAs technology strategy has involved hug e investments in many state-of-the-art technologies In order to strengthen its knowledge networks for predicting the demand and supply of airline seats. SIA deemed it important to use networked knowledge resource as a vital asset in optimizing the allocation of airline seats more effectively. If this networked knowledge is well managed, they are a good influence for pursuing further innovation based on superior performance. Knowledge is therefore best viewed as the catalyst for exploring innovative ideas which occur between and within organisations at knowledge exchanges due to stepped up transfer between knowledge communities. Nonaka (1991) therefore says that managing the knowledge-creating company requires the building of overlapping company information, business activities, and managerial responsibilities which encourages further communication and helps create a common ground for the transfer of open knowledge. In order to innovate effectively, organisations like SIA should also adopt knowledge management practices based on a collaborative knowledge strategy through symbiotic relationships by knowledge sharing. Todays knowledge-based environments require the assimilation of knowledge from diverse disciplines which can be drawn from a variety of fields of expertise. This often results to superior innovative products and practices. In a highly competitive environment such as the airline industry, success generally means that the provision of products and services before ticket purchase and after passenger arrival must be taken seriously. If we are to consider how SIA innovates on its strategic communication process, it is worth noting that SIA management greatly understands the value of constant feedback and the establishment of open communication channels with customers at all times, in any place, and in any situation as the best way to improve on its corporate competitiveness. SIA makes an intensive effort to stay in touch with customers by listening to hidden wants and needs and ensure rapid response to customer complaints. Effective Management Skills SIA is constantly challenged from almost all fronts. Even though its business model is often an envy of other industry players, theres still a lot of room for improvement. In here, SIA must respond by continuously creating new value for the market it serves. It has recently moved from resource allocation of physical assets towards the pursuit of knowledge innovation. This move has enhanced corporate competitiveness by using knowledge together with scientific, technological, organisational, and managerial assets. Managing knowledge is basically managing people (Goh, 2005). It must be made clear however that people-centered priorities are most crucial in a successful knowledge-based enterprise. Machines and technology are often proficient in gathering and performing information tasks. People are more involved in knowledge tasks. It is said that people are the real intelligent agents in knowledge management solutions regardless of how powerful and advanced the technology may be. People are the ones who can identify, assess, analyse, and act upon opportunities for learning brought about by the acquisition of new knowledge in order to help sustain the organisation. Kaufman says that training and other educational programs at SIA are not one-time affairs. SIA recognizes the changing customer expectations and the complexity in handling daily customer contacts can be an exhausting experience. One of SIAs competitive advantages has been its total commitment to talent. SIAs consistency in its training programs allows it to surge ahead in service quality (even during economic slumps) when its competitors are cutting back on training costs. It also demonstrates to all its members that continuous learning and improvement are essential principles for success, and not just for add-ons. Compared to the current industry standards, SIA goes to extraordinary lengths to attract, develop, and retain the best people by recognizing that only people who are trained with the right technological tools can intelligently assemble, interpret, and utilize knowledge for the purpose of servicing the advancement of the organisations innovation goals. Kleiman (1999) contends that training practices and skills development illustrates the commitment of management to constantly improve the skills of its personnel. By investing and incorporating these programs within the overall corporate curriculum, employees do not only get to have an avenue for career development and improve their skills and knowledge. They also bring in different forms of information and expertise (and knowledge) which can be potent weapons by the company in maintaining its competitive advantage. People are motivated to grow for a lot of reasons. First, it augments a persons human capital and labor market position. Second, it aligns the growth with deeper personal intrinsic motives (Wijnhoven, p.303). According to Wheatley (2000, p. 6), human needs and motivation lead us naturally to create knowledge. Studies confirm that people want their work to provide growth, recognition, meaning, and good relationships. We want our lives to mean something, we want to make contributions to society and to other people, and we want to continually learn and improve our skills. Inducing people to work in new ways for quality and innovation may also involve overcoming past habits, values, beliefs, and identity (Michela and Warner Burke, p. 234). Skyrme (2000, p.78) discovers that many companies do not reward people for sharing information. Management consultancies now include peoples contribution to their knowledge bases as part of their performance and salary review. At SIA, excellent staff performance is rewarded with increased pay and position. Individual innovation on how to respond to unique customer situations with exceptionally positive, innovative, or selfless acts of service is added knowledge to the company and is also aptly rewarded with increased pay and position. By empowering their employees and supporting decentralization of decision making and broader workforce participation, employees are usually given prominent roles in running the business. It also encourages greater responsibility for individual and group actions on decisions they make. Leadership and Personal Development Management suggests custodianship, control and a concentration on managing resources that already exist. According to Skyrme (2000), a better term for knowledge management is knowledge leadership. It is more about constant development and innovation of information resources and of knowledge and learning networks. It embraces both the sharing of what is known, and innovation which are the two thrusts of a knowledge-enhanced strategy. Successful knowledge innovations are not characterized by instruction-centered production tasks, and corporate leaders should reduce top-down structures that hinder productive knowledge processes (Goh, 2005). The traditional hierarchy structure and style of management is often seen as detrimental to a knowledge generating culture. In SIAs management hierarchy, managers always have time to listen to employee feedbacks and these feedbacks are valued at every level of the hierarchy. In the concept of a knowledge-based economy, everybody is considered a knowledge worker (Wheatley, 2000). If everybody is assumed to be creating knowledge, then the organisation has a responsibility to provide open access to information to everyone. It is therefore assumed that knowledge will be found everywhere in the organisation, not just in a few places or levels of the organisation. At SIA, the staff is regularly evaluated for performance and potential (Kaufman). Senior managers are frequently rotated within the top positions of the company. The management team is described as having a shared understanding of the big picture due to the great breadth and depth of their experience and reach within the company. Collaboration and team building is closely evidenced by the fact that SIAs products, services, and solutions are heavily invested in order to foster a strong knowledge-sharing culture (Goh, 2005). The introduction of web-based technologies and a company-wide focus on developing team-based competencies to improve the companys capabilities in knowledge collaboration also support the personal development of the organisation. Sales and Marketing According to Kaufman, SIA keeps track of their competitors progress closely while keeping an open eye for new ways to improve and grow. Whenever other service industries (like hotels, banks, and restaurants) take steps forward in their amenities and comfort, SIA takes the initiative to analyse and study innovative ways in which it can leverage and adopt these existing opportunities for their customers satisfaction. To address customer demands, SIA developed a quarterly Service Performance Index that provides a consolidation of statistics relating to customer service (Goh, 2005). This index is closely monitored globally and benchmarked against the service standards of leading airline competitors in the Asian region. SIA also undertakes an environmental scan on consumer trends of competitors and other similar services. Service Excellence In a new knowledge-based economy, clients are more informed and more perceptive and sensitive of their needs and wants. To ensure that these clients new needs are met, knowledge-based organisations should be more customer-centric. At SIA, its strategic centerpiece is on ensuring that customer get the best deal and value on every deal that it makes with its stakeholders. Conclusion: The success of knowledge innovation depends on members of the organisation who utilized the knowledge and not the knowledge itself. In order for an organisation to succeed and sustain its competitive advantage, organisations should have a formal and knowledge-friendly environment where it can promote and cultivate a knowledge-oriented culture and knowledge-driven management and personnel programs. Singapore Airlines is known as one of the best airlines in the world in terms of customer satisfaction and ability to weather the onslaught of new competitors. In general, SIA is faring much better than its competitors because it has consistently aligned its strategic goals and innovation investments with a collaborative knowledge strategy. SIAs technology strategy involved modern technology to strengthen its knowledge network. It has a people-centered philosophy by training and developing its people in order to have knowledge workers in their ranks. SIAs hierarchical management style is st ructured to encourage and value feedback from different levels of the organisation. To meet the challenges of knowledge economy, SIAs corporate curriculum offer a wide range of inspiring and demanding educational programs that continually motivate, upgrade, and improve their employees and managers performance. The main reason why SIA has continually flown on both wings on the sky is that it has found good ways and means of using an intangible asset in the form of knowledge to fuel their drive towards customer service perfection. Bibliography Abel, A and OxBrow, N (2001), Competing with Knowledge, Library Association Publishing, London. Garvey, B and Williamson, B (2002), Beyond Knowledge Management: Dialogue, Creativity, and the Corporate Curriculum, Pearson Education, Harlo, UK. Goodman, R and Lawless, M (1994), Technology and Strategy: Conceptual Models and Diagnostics, Oxford University Press, New York. Kleiman, L (1999), Human Resource Management: A Managerial Tool for Competitive Advantage, 2nd edn. Ponniah, Paulraj (2001), Data Warehousing Fundamentals, John Wiley and Sons, Canada. Andreu, R and Sieber, S (2001), Organisational Learning and Knowledge Management: Where is the link?, Malhotra, Y (ed), Knowledge Management and Business Model Innovation, Idea Group Publishing,London. Meadows, C et al (2001), Building a Competitive Advantage in the Knowledge Economy,Malhotra, Y (ed), Knowledge Management and Business Model Innovation, Idea Group Publishing, London. Michela, J and Warner Burke W (2001), Organisational Culture and Climate in Transformations for Quality and Innovation, Ashkanasy, N et al (eds), Handbook of Organisational Culture and Climate, Sage Publication, London. Skyrme, D (2000), Developing a Knowledge Strategy: From Management to Leadership, Morey, D et al (eds), Knowledge Management: Classic and Contemporary Works, MIT Press, London. Wijnhoven, F (2001), A Framework for Stakeholder-Based Knowledge Valuation in Organisations, Malhotra, Y (ed) Knowledge Management and Business Model Innovation, Idea Group Publishing, London. Efimova, L and Swaak, J (2003), Converging Knowledge Management , Training, and e-Learning: Scenarios to make it work: Proceedings of I-Know 03, Graz, Austria, July 2-4, 2003, Retrieved: February 21, 2006 from i-Know-center online database. Kaufman, Ron (n.d), How Does Singapore Airlines Fly So High? Retrieved last February 21, 2006 from Abel, A and OxBrow, N (2001), Competing with Knowledge, Library Association Publishing, London.

Analysis of Construction Company, India

Analysis of Construction Company, India Annual Report Analysis of  Hindustan Construction Company Limited Tejas Vaidya Construction Sector Analysis: Construction in India has become a key contributor to the economy of India in the recent years. It ranks 2nd in employment and contribution to the economy only after the agriculture sector. This sector also ranks 2nd when it comes to FDI inflows. However the last three years have been a challenging period for this sector. This sector has now come into the forefront with the ‘Make in India’ campaign being driven actively by the Prime Minister of India. Key aspects of the sector are as follows: The Indian Construction is valued at about USD 126million and projected to grow to USD 140million by 2017. The Construction industry contributes about roughly 10% to the GDP, a contribution of Rs. 6708 billion in the year ending March 2013. 50% of the construction industry demand comes from infrastructure and the rest comes from industrial activity, railways, residential and commercial development combined. Being a labour intensive sector, it employs 3.5crore people including direct and indirect jobs. The government has highlighted infrastructure as a key sector to turn around and sustain the momentum of GDP growth that had slowed down in the last 3 years. This industry is skewed in terms of major players; there are a handful of companies from both public and private sector. The public sector players are: IRCON, NBCC, RITES and EIL. The major private sector players are: LT, HCC, MN Dastur Co and Ansals. There is immense scope for development in this sector and it is seen as a booming sector, primarily due to the following reasons: The estimated shortage for housing in urban India is 18.8million units whilst that in rural India is 47.4million units. The current standards of infrastructure are unable to sustain the growing population and there is hence a dire need for re-generation and renovation to meet demands in urban areas. The Government of India has released a new urban development campaign that will help develop 100 ‘smart cities’ across India. Cities will be supported to gain investments from private capital and make effective use of PPP model to strengthen their infrastructure and services. 100% foreign direct investment (FDI) is permitted in construction and infrastructure development projects. Apart from this, a high degree of recent regulatory advancements have been seen in this sector which include the following: Jawaharlal Nehru National Urban Renewal Mission The National Urban Housing and Habitat Policy, 2007 Real Estate Investment Trusts (REITS) Infrastructure Investment Real Estate Regulation Development Bill, 2013 Model State Affordable Housing Policy for Urban Areas, 2013: About HCC: Hidustan Construction Company was established in 1926 by Seth Walchand Hirachand Doshi. It is an integrated group that operates in the areas of construction, infrastructure development and real estate. Being one of the largest private sector construction companies in India, it has been involved in projects ranging from highways and bridges to hydel-power projects to nuclear facilities.HCC’s standalone turnover stands at Rs. 4,113.5 crore and net profit stands at Rs. 80.6 crore, after reporting losses for the last two years. Financial Report Analysis HCC has a multitude of ongoing, new and completed projects in this year across various states in India and also in Bhutan. A total of 202 projects are listed. The state wise spread of the projects is as follows: Chairman’s Address to Shareholders The chairman starts by highlighting the terrible state of the economy, of governance and of the infrastructure sector over the last two years. However he shares a spirit of optimism over the formations of the stable NDA government. He states that the GDP growth has been languishing at the sub 5% levels this year 2013-14. As a result the construction sector is also badly hit. Overall, HCC works in a discreditable framework in India since the sector that is most affected by economic slowdown is infrastructure. The chairman, Ajit Gulabchand lists the problems endemic to the construction industry and they are: Environmental clearances to new infrastructure projects Lack of effective decision making Non-payment of claims by government public sector clients The chairman also highlights the performance of HCC as a standalone company which has been impressive amidst turbulent economic conditions. Turnover has increased 7.2% to Rs. 4113cr and has seen an increase for 67% to 640.7cr. The company has been successful in driving down costs. A key project Lavasa is back on track and taken up by Steiner AG, a wholly owned subsidiary which has remained profitable since the last 3 years. The chairman ends with sharing his optimism with respect to a stable BJP-led NDA government under Prime Minister Narendra Modi. Management Discussion Analysis In this section various aspects of the business and business environment of HCC, both internal and external is discussed. The macro economic review The performance of the economy coming into the year 2013-14 is analysed. Chart A highlights the GDP growth rate in the 5 preceding years. Chart B highlights the growth of the construction sector. It is observed that current account deficit as a ratio to GDP has narrowed significantly and there as also been an increase in foreign inflows. India’s Infrastructure Sector   The current situation of the infrastructure sector is analysed. It is observed that the sector faces several challenges in spite of long term demand being consistent. The lethargic decision making of the old government has negatively affected the sector. Infrastructure financing need to improve significantly by dealing effectively with internal and external factors. Delays are also observed on 15-20% projects along with rise in number of projects without commissioning date. HCC- Key developments Traditional focus on transportation, power and water supplies has continued. Areas like industrial construction projects, complete engineering, procurement and construction (EPC) have been explored. The improvements implemented in efficiency of project operations, inventory management, structure of the organisation and liquidation of receivables have been noteworthy. The company has also undertaken re-evaluation projects to expedite slow-moving financially challenging projects. Performance Highlights   The company has been successful in maintaining its top line at par with 2012-13 amidst adverse economic, financial regulatory environment primarily due to its thrust on cost control. Revenue from operations stands at Rs. 4113cr up 7.2% while EBIDTA stands at Rs. 641cr up by 64.1%. The company has also successfully paid of its dues from the Corporate Debt Restructuring package availed last year. Investee Companies Includes HCC’s portfolio of business through subsidiaries: Infrastructure: focuses on investment and asset creation through PPPs. During 2013-14, the business focused on executing existing projects and raising capital. Real Estate: The focus area of this business has been the development of complete integrated townships. Total Service Contractor: An extension of engineering construction division driven primarily by Swiss acquisition Steiner AG. IT: Expansion into IT done with Highbar Technologies. Engineering Construction Division   This division is distributed across power, transport, water and industrial sectors. Transport: Two major contracts were won viz. tunnel T49 in Udhampur – Srinagar – Baramulla railway line and RCC Bridge over river Sone in Bihar. In addition progress is satisfactory on Delhi metro projects won earlier. Power: This sector has been affected in terms of new undertakings however projects under execution performed well. This includes Hydro and Nuclear Power projects. Water Supply Irrigation: The company has completed water supply projects in Gujarat. New contracts secured at Yettinahole, Karnataka as well as in Pune. Industrial: Includes civil and fabrication contracts in Hindalco-Orrissa, Reliance-Jamnagar, ISPRL-Visakhapatanam and Padur, Karnataka. Marine Works: A contract for reconstruction of a dry dock and wharves is progressing satisfactorily in Mumbai. Infrastructure Division   HCC’s infrastructure business was handled by its wholly owned subsidiary HCC Infra. Projects were majorly developed either on PPP or on DFBOT mode. The company’s entire portfolio comprises NHAI highways with concession periods ranging from 18 years to 30 years. The asset portfolio of HCC is mature which it plans to monetise to raise capital. The asset portfolio is also briefly touched upon. Real Estate Division The real estate division is further divided into two businesses, Lavasa and commercial real estate. Having received environmental clearances, 2013-14 saw the development at Lavasa go into the next phase. A restructuring meant all employees involved in construction were shifted to Steiner India and Lavasa remained a pure developer. Focus has been on collection and salesat Dasve and Mugaon. Dasve in ready withal operational basic infrastructure. Work on infrastructure and utilities development of the second town Mugaon has gathered pace. Gadle Dam, built to supply water for the construction of Lavasa neared 90% completion. Commercial real estate has also seen satisfactory progress with the work on 247 Business Square and 247 Business Avenue, Vikhroli Corporate Park Phase II and Mean Township Developers projects progressing. The company also won bids for Parleshwar CHS, Mumbai and Charosa Wineries. Steiner AG   HCC acquired the remaining 34% stake in the Swiss company which makes Steiner AG a 100% owned subsidiary. Profit level has been maintained as last year at CHF 8.2million. Key undertakings of the company post acquisitions are described. Steiner launched its new corporate identity and design in September 2013. The brand essence ‘Taking the lead together’ which is being implemented on all channels. Highbar Technologies Focus has been on IT implementation from point of view of business transformation, rather than just technology implementation. 14 new customer added to make the count of customers 78. Multiple awards have been won. Expertise developed in areas of ERP, business intelligence and CRM. Operations Support   The operations of the different divisions are supported by Management Systems, Intellectual Property Rights, Branding and Human Resources. Integrated Management System (IMS) adopted based on standards based on standards stipulated by ISO 9001:2008, ISO 14001:2004 and OHSAS 18001:2007 to streamline processes. Re-certification audit for ISO 9001: 2008, ISO 14001:2004 and BS OHSAS 18001:2007 conducted to confirm compliance. HCC continued to create and protect intellectual property through multiple mediums. On the branding front, HCC continued with it brand enhancement initiatives in both external and internal mediums. Brand value was enhanced by standardised brand practices and delivery of big and complex infrastructure. Awards won by HCC During the year the company won CIDC Vishwakarma Award 2014 for Best Project for Pir Panjal Tunnel, Dun Bradstreet Award for ‘Social Impact’ project of the year 2013 for Nimoo Bazgo Hydel Power Project and Construction Week Award. Human Resources Substantial improvement initiatives like annual turnover per employee, upper ceiling on indirect/ preliminary expenses at the sites and Head Office cost being limited to a percentage of turnover were undertaken. The organisation structure, work and people allocation was re-calibrated to further improve efficiency and focus on various business areas. The company is also working towards implementing performance-oriented culture. Financial Review   In this section the abridged profit and loss accounts have been illustrated. Key financial aspects have been highlighted along with key financial ratio. A detailed analysis of the financials has been included in the later part of this report. References: Annual Report AY 2013-14 –  http://www.hccindia.com/pdf/HCC_Annual_Report_FY2013_14.pdf http://makeinindia.com/sector/construction/ http://en.wikipedia.org/wiki/Construction_industry_of_India https://www.equitymaster.com/research-it/sector-info/construction/Construction-Sector-Analysis-Report.asp http://www.indiainfrastructure.com/reportpdf/research_catalogue.pdf K.J. Somaiya Institute of Management Studies Research Page | 1

Woody Guthrie Essay -- Biography Biographies

Woody Guthrie   Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Woody Guthrie, born Woodrow Wilson Guthrie, was born in Okemah, Oklahoma in 1912. When he was 16 he began to travel around the United States (Feather 428). He had a great love for music and soon began writing his own songs about the Great Depression and the treatment of the migrant workers, who were forced to move west because of the Dust Bowl.   Ã‚  Ã‚  Ã‚  Ã‚  His music greatly influenced many people across the country. However, Woody never let the fame go to his head.   Ã‚  Ã‚  Ã‚  Ã‚  Ã¢â‚¬Å"When Woody Guthrie was singing hillbilly songs on a little Los Angeles radio station in the late 1930’s, he used to mail out a small mimeographed songbook to listeners who wanted the words to his songs, On the bottom page appeared the following: ‘This song is Copyrighted in U.S., under Seal of Copyright # 154085, for a period of 28 years, and anybody caught singin it without our permission, will be mighty good friends of ourn, cause we don’t give a dern. Publish it. Write it. Sing it. Swing to it. Yodel it. We wrote it, that’s all   Ã‚  Ã‚  Ã‚  Ã‚  we wanted to do.’†(qtd. Pete Seeger www.geocities.com/Nashville/ 3448/guthrie.html) Woody was very passionate about his causes. He felt very strongly about the mistreatment of the migrant workers, probably because he was himself an â€Å"Okie†. His works served as inspiration for musicians like Bob Dylan and Pete Reeves 2 Seeger and not to mention â€Å"countless, less-famous others† (www.geocities.com/Nashville3448 guthrie.html) ...

The Job that Changed My Life :: Personal Narrative essay about myself

The Job that Changed My Life    My grandfather was a police officer when he was younger; he would tell us stories of he and his buddies on motorcycle patrol and the life of a cop. The stories that he told were so interesting, that ever since, I wanted to have a career in law enforcement. After I graduated from high school, I enrolled in the law enforcement program at Spokane Community College where I planned to fulfill my dream of becoming a cop. I started the law enforcement classes at the college and came to the conclusion that law enforcement was not the career for me.    It takes a special breed of person to be in the law enforcement/corrections field, a person who can withstand the stress and unhealthy surroundings that come with the work. Before you go out and do something that is as drastic and life changing as a career choice, you need to know what your getting your self into, so do your research and make sure that is what you want.    The corrections program was similar to law enforcement, so I switched to the correction alternative because I still wanted to be associated with law enforcement. I was hired on at a juvenile detention center as a juvenile correction officer. I thought that this was my opportunity to do something to help these kids, don't get me wrong I did not think I could help or save the world, I just thought I would or could make a difference in one life that it was all worth the hassle. Well I was wrong, my first day of on the job training we had to restrain a kid who was out of control, it only got worse from there on. It seemed like an everyday occurrence in this place; the kids were ok most of the time, but it only took one kid in a bad mood to set the other 40 kids off then it turns into a big problem.    This job was physically and mentally demanding of my energy. I worked anywhere from ten to thirteen hour days; my stress level sky rocketed, and my school work started to suffer, eventually I dropped out of school because I was miserable at this job; the stress was so high; I had major mood swings, and I did not know what to do.

Essays --

Mao Zedong was considered to be the father of communist China. He was born in Shaoshan, China in Hunan province on December 26, 1893 and died in Beijing on September 9, 1976. He was born into a peasant family with 3 siblings, 2 younger brothers and a younger sister. Unlike most peasant families in Nineteenth Century China, his family was more wealthy than most. He went to Shaoshan Primary School. When Mao was 11 he attempted to run away from home to get away from the Confucian upbringing, but his father brought him back and 2 years later he completed his primary education. He worked full time in the fields with his father. To fulfill his restless mind he was always reading. It was at that time that after reading a booklet by Zheng Guanying that he developed a political consciousness. His future political standing was influenced by George Washington and Napoleon Bonaparte and their love for their countries. In 1911 when he was about 18 he moved to Changsha for a secondary education. H e served as a private soldier in the rebel army for the Xinhai Revolution, it was successful in defeating the monarchy in the southern province but the Northern Province still supported the monarchy rule. After the victory he returned to studies but soon moved out of Changsha School because it was set to Confucianism. After that he spent most of his time reading at the public library with a goal to be a teacher. He enrolled himself in a teacher training college. He then started writing articles for the radical newspaper, New Youth. He participated in many school activities and he graduated from that same school in June of 1919. He then moved to Beijing in search for a job not being able to find one on his own his mentor helped him get one as an assista... ...ding it was somewhere between 2 and 7. Some of Mao’s most famous quotes were †¦ â€Å"A revolution is not a dinner party, or writing an essay, or painting a picture, or doing embroidery; it cannot be so refined, so leisurely and gentle, so temperate, kind, courteous, restrained and magnanimous. A revolution is an insurrection, an act of violence by which one class overthrows another.† – From Report on an Investigation of the Peasant Movement in Hunan â€Å"War is the highest form of struggle for resolving contradictions, when they have developed to a certain stage, between classes, nations, states, or political groups, and it has existed ever since the emergence of private property and of classes.† From Problems of Strategy in China's Revolutionary War â€Å"Every Communist must grasp the truth, "Political power grows out of the barrel of a gun.† From Problems of War and Strategy

A Speech of Health Essay

Hello students, faculty, members of the school board, Superintendent, and parents. When I was first told that I was going to be the speaker for graduation, I was overcome. I was overcome with pride and excitement, as I’m sure we all are today as we close this chapter on our lives, but most of all, I was overcome with a feeling. A feeling that I have fooled you all into electing a Canadian to speak on this very important occasion. (Canadian Accent) I bet about now, you are all finally realizing just what it is you’ve done, eh? But it’s too late, eh? I can’t be stopped†¦. (Drape Canadian flag over top of podium) The rich history of Canada is a very long and interesting one. One that begins in the early years of. †¦ (Trail off and give a moment of thought)† **remove flag† or better yet have someone do it for you. ) Seriously though, after I got over my initial reaction, I realized that this was going to be a very difficult undertaking. So I did what any teen-age boy would do in a similar situation. I turn to my friends! see more:welcome speech for sports day I received two pieces of advice that not only helped me with the situation at hand, but I feel will be the predominant source of motivation for the next big step in my life and everything that follows thereafter. These two pieces of advice were. (Hold up palms with numbers inked on them) No. 1: Don’t Screw up! No. 2: Be Funny! Obviously after these two gems of advice, I was prepared to write a stunning and powerful speech that will remain with every one of us till the day we die. Or at least until one of the real speakers come up here and says something meaningful. It’s hard to believe that we’ll all be leaving this place finally. It is even harder to believe that from now on, we’re going to pretty much have to fend for ourselves. I think that whether we know it or not, we’ve gained a lot of the tools that we’ll need to make it out there, right here at Welch. Personally, I’ve learned some of the most important messages of my life within these hallowed halls. I’ve learned that it’s important to walk the road less traveled, because after a while, running down freshman in the packed hallways just loses some of its appeal. I’ve learned that no matter how good an idea may seem at the time, sometimes a giant metal dollar sundial that never sees the sun, could possibly be a bad idea! I’ve learned the importance of sticking strong to your ideals and not giving in to peer pressure, because we have to be ourselves, we have to think with our own mind! (look over at Mr.  Quinn) Is that good Quinn? Is, is that all right? Oh, ok. And no matter who’s doing it! Dammit! We will NOT CHEER! Finally, and probably most importantly, from the ever vigilant and all knowing administration, I’ve learned that a girl’s belly button is a dangerous and powerful thing that should be covered, feared, contained, kept from the world, for the good of all people everywhere. If you are able to decipher any sort of message out of what I’m saying today at all, it should be that life shouldn’t be taken so seriously. When we’re all off in college, or working at our jobs, or still living off of our parents, and we look back on our lives here at E-W, we’re not going to remember the tests we aced, or the classes we took, or the endless nights in front of a computer screen. But instead we’re going to remember the good times we had, the parties, the laughs we shared, but most of all, we’ll remember the people we knew. I was once told that you’re only as good as the people that you surround yourself with. Well, there is not a higher caliber of people that I would rather surround myself with then you all sitting in front of me today. I am proud to say that I was a part of the Welch Class of 2006. Don’t ever forget where you came from, and always remember all of the great and unique people that you shared your four years with, and when we all come back and see each other again for our 20-year reunion, there are going to be all sorts of surprises. By that time Charlie Guo will probably be ruling the world with an iron fist, Katherine Piercy will be the new reigning arm wrestling champion of the world. Jon Goodwin will have his very own morning talk show called â€Å"Wake up with a cup of Jon†, Kamiya Woodard will be the new host of â€Å"The Weakest Link† and rename it â€Å"Man! You don’t know what you talking about! † Eunice Song will be†¦ well, let’s be honest, there really isn’t much hope for Eunice, (turn to Eunice) Eunice I guess you should have just tried a little harder. The entire cheerleading squad will find a permanent role on the â€Å"Young and The Restless†, when the director is surprised to find that intense daytime drama comes surprisingly easy to them. Finally, as I’ve been saying for four years now, we’ll all be shaking the hand of our President of the United States†¦. Steve Brown. If you don’t remember a single word of what I’ve said up here today, just remember this: Jobs, houses, money, and success will all come and go, but the one thing that nobody can ever take away from you are the good times and good friends you have had here at E-W. So in closing, I only have one more thing to say, on request from Blair Hanberg, I leave you all with â€Å"MEOW! â€Å"

Unilever & Procter and Gamble

Unilever [pic] The company was formed by a merger of Dutch Margarine Union and British soap-makers Lever Brothers in 1929. Unilever was one of the world’s first genuine multinationals with operating companies in more than 40 countries. The company produces and distributes a vast number of well known brands in the areas of nutrition, hygiene and personal care that are used by consumers all over the world. The history of Unilever dates back to 1885, William Lever established a soap manufacturing company in the UK with his brothers and named the company Lever Brothers in 1885.William Hesketh Lever was born at Bolton; Lancashire in 1852 was the son of grocer. Together with James Lever, William Lever opened soap factory at Warrington, England, in 1885. Their products, Sunlight, the world’s first packaged soap, were very successful. The soup they made in ready moulded tablet. Previously laundry soap was marketed in bars and grocers cut off pieces and sold them by weight. Unti l 1919 Lever was wholly own a controlled by the founder. By 1919, as a result of ingle minded expansionist, commercial policies, his firm accounted for 60 percent of soap production in Britain.Two butter makers, Jurgen and Van den Berghs formed Margarine Union in 1927. The Dutch Margarine Union merged with Lever Brothers of United Kingdom in 1929 to form Unilever. During the 1930s, the structure and management do Unilever has been describe as a professional largely non-family managed hierarchy. Unilever has been present in the North Africa and Middle East region since 1933. For tax, purpose, two separate entities were established, one in London and another in Rotterdam. Historically, Unilever has grown to be a very multilocal company. However, while the company used to work with regional supply chains on regional brands.Unilever started to globalize their brands in the early and mid 1990s. Mergers & Acquisitions and Divestments of Unilever ? With effect from 1 January 2008, Unilever entered into an expanded international partnership with PepsiCo for the marketing and distribution of ready-to-drink tea products under the Lipton brand. ? 2nd April 2008, acquisition of Inmarko, the leading Russian ice cream company. ? 4 December 2008, a 50:50 joint venture between two Singapore-based companies, Wilmar International Limited and Olam International Limited for sale of our edible oil business. 24 February 2009, Unilever agreed to acquire the iconic Romanian ice cream brand Napoca, as part of our expansion into the country’s ice cream market. ? 4 April 2009, acquisition of the global TIGI professional hair product business and its Advanced Education Academies. ? 3 July 2009, acquisition of the sauces business of Baltimor Holding ZAO, the leading ketchup business in Russia. ? 18 January 2010, Unilever signed a definitive agreement to sell their Shedd’s Country Crock-branded chilled side-dish business in the US to Hormel Foods Corporation. 19 August 2010,à ‚  Unilever signed an asset purchase agreement with Norwegian dairy group TINE, to acquire the activities of Diplom-Is ice cream operations in Denmark. ? 24 September 2010, Unilever announced an agreement to sell Unilever’s consumer tomato products business in Brazil to foods company Cargill for approximately â‚ ¬260 million. ? 28 September 2010, Unilever and EVGA announced that they would acquire EVGA’s ice cream brands and distribution network, enriching their ice cream portfolio in Greece. 6 December 2010, Unilever completed the acquisition of the Sara Lee Personal Care and European Laundry business for â‚ ¬1. 2 billion. ? 10/05/2011, Unilever acquired the Alberto Culver Company. Proctor & Gamble [pic] Since 1837, P&G has built a rich heritage of touching consumers’ lives with brands that make life a little better every day. In 1887, P&G institutes a pioneering profit-sharing program that gives employees an ownership stake in the Company. This significa nt innovation helps employees connect their vital roles with the Company’s success.In 1924, P&G becomes the first company to conduct deliberate, data-based market research with consumers. This forward-thinking approach enables them to improve consumer understanding, anticipate consumer needs and respond with products that improve their everyday life. In 1941, P&G becomes one of the first companies to formally respond to consumer correspondence by establishing the Consumer Relations department. The addition of toll-free phone numbers in 1973 and e-mail in the 1980s further enhance consumers’ ability to contact and keep the consumer at the heart of all they do.In 1955, Crest is co-developed with Indiana University. This collaboration delivers a product that is a breakthrough in the use of fluoride to protect against tooth decay, the second-most prevalent disease at the time. In 2002, P&G develops Naturella feminine pads specifically to meet the needs of low-income women in Latin America. Based on deep consumer understanding, Naturella responds to consumers’ desire for freshness with chamomile, a unique ingredient never before used in feminine care products. In 2005, High Frequency Stores common in developing markets emerge as their largest customer channel.Consisting of nearly 20 million stores across the world, HFS represents a particular opportunity in fast-growing, low-income markets. Through HFS, we connect to consumers with affordable products and packaging specially designed for their needs. Mergers & Acquisitions and Divestments of P&G ? Procter & Gamble (P&G) agreed to sell â€Å"iconic snack brand† Pringles to Diamond Foods in a deal worth $2. 3bn (? 1. 4bn). Pringles, the world's largest potato crisp brand, will triple Diamond's existing snack business. ? Divested its Western European tissue/towel business to SCA, a global consumer goods and paper company.The deal involves the sale of manufacturing assets, P&G's Tempo brand in Europe and Hong Kong, and the licensing of Charmin & Bounty trademarks in Europe. ? Divested its slow-growing Folgers coffee business as a sacrifice to its long-term growth goals. ? In 2005, P acquired the largest acquisition in its history by purchasing Gillete brand for $57 billion. This deal not only included Gillete razors but also Duracell batteries and Braun and Oral-B brand dental products. This deal gave P even more control over  shelf-space in retailers all over the world. Current Global PositionLet us see where the two companies stand in the World’s Most Admired Companies from the data collected by Fortune: | | | | | | | | | Strategic Problems today & Recommendations