Explaining First Language Acquisition Essay

An essay explaining First Language Acquisition What is the most realistic theory that explains human being’s acquisition of their First Language? Considering the varying theories and perspective on how 1st language is learned, it is evident that no single theory can fully account for the complexity of the issue: How 1st language is learned. Based on the previous discussions and scholarly readings we had however, I am beginning to develop a conviction that Innatist theory holds the most realistic and consistent explanation among theories presented on how human beings acquire their â€Å"mother tongue†. The Innatist view also known as the Nativist pioneered by Noam Chomsky laid out an explanation that every child possesses innate knowledge of language structure (universals) to detect and reproduce his or her 1st language. (Lightbown & Spada, 2006, p. 16). According to Chomsky, we all possess Language Acquisition Device that has predestined people to use spoken language, and makes us the only beings that can use spoken language. I think this is generally true. No one can argue that human beings are the only species on earth that uses spoken language. Many researches in the past tried to incorporate and teach animals to use any kind and forms of human language but all attempts have failed. I also have observed that the rest of the perspectives (theories) offered in the module namely; connectivist, constructivist, developmentalist and cognitivist are just â€Å"rehash† or mixtures and modified versions of behaviorist and innatist view. Thus, the only two outstanding theories and have original ideas that main served as pillars in First Language acquisition are namely behaviorism and innatism. Although these two opposing theories offers great insights in learning L1, innatist’s perspective is much more comprehensive and consistent than that of the behaviorist. First, behaviorism is mechanical since neither conscious awareness nor intent is assumed to be operational in the learner. In contrast, innatism is realistic rather than mechanical since it does consider a child as an inert recipient. Furthermore, the behaviorist doesn’t include or advocate the critical period of learning, while innatism takes into account some of critical period hypotheses. Universal grammar is also true in most cases. People who didn’t undergo formal instructions or any forms of schooling still learn the complexity of their native language. Finally, I think Chomsky’s ideas explained the facts in a way that no other theories can. Acquiring language is not a normal mental problem. Everyone sees small children pick up language effortlessly. Few, however, notices what an amazing phenomenon this is. Rarely any one would expect a four-year-old to master calculus. Yet most people would not in be surprised when a four-year-old learns grammar, which is a difficult task. Children learn the rules of their native grammar by hearing a limited set of sample sentences. In addition, the limited information they receive is mathematically insufficient for them to determine grammatical principles, yet somehow they are still able to do so. Reference: Lightbown, P. M. , & Spada N. (2006). How Language are Learned: Oxford Handbooks for Language Teachers. (3rd ed. ) Oxford University Press

Methods for communicating business information Essay

In order to communicate business information a business will use a range of electronic and non – electronic methods for the right audience. The way informational will presented will depend upon on a number of factors such as: * Age and attention span * Readability * Interest The audience may have a range of people of different ages. Those who are younger will only be able to concentrate for shorter length of time, while older people and those are who are highly educated will be able to listen to a presentation or other forms of communications such as reports. Younger people will respond well to visual stimuli such as power points rather than verbal presentations. Different types will respond differently to different forms of communications. Businesses will range from the age and the amount of education a person has. For example in an industrial business or supermarket will have a wide range of people. Those who work on the shop floor in a supermarket will have a range of people of ages and the education they have. Some may have basic GCSE level or none at all or may be studying at a degree level. The type of communication that is given to this type of audience will vary. The non electronic methods for communicating business information are: * Letter * Memorandum * Report * Invoice A letter is a form of written communication. Letters are considered to be the easiest form of communication simply because they are simple and quick to produce but also because they provide a written record of correspondence that can be useful in the event of a dispute. Another form a non electric method for communicating business information is a memorandum. This is an internal form of communication for the business and serves the purposes of transferring short messages between members of staff. A report is used as a formal reply to a task that has been set. It is a common form of communication in the business industry and amongst many other forms of organisations. An invoice is a document that is produced by the business. It informs customers that they have bought on credit. The sales department has the responsibility to produce such documents. An invoice will have the details of the Products bought by the customers, the date, details of payments that are required and the date of when the payment is required. Such documents are kept for six years as they later may be used as evidence of a contract if any legal action should be taken. The electronic forms of communications that are used in a business are: * Screen based communication * Email * SMS * Computers and the internet * Telephone * Video conferencing Screen based communications are now becoming more common in businesses. Most forms of communications in the technology world use screens to show information. For example tills have screens to show customers and the cashier the amount that has to be paid and the goods been bought. Screen based communications have become increasingly common and are now used for a range of purposes such as cash machines, railway and airports. Email has become another popular source of communication. The advantages of emailing are: * The costs are extremely low * It is quick and easy * The information can be instantly viewed * A written copy of the message is given to both parties – useful for reference * Easy to store Emails are seen as an informal source of writing where abbreviated words are used. For this reason business emails are written in a less formal way and a friendly tone. Business messages are now being sent and received through text messages (SMS) which is available between mobile phones. This method of communication can be replaced for memos and emails to send messages to employees. Text messages benefits those employees such as sales people who travel frequently as part of their job to be kept up to date with important developments. It also used as a form of advertising the business. Customers can be attracted to the business by the carious text messages they receive by the business on the products or services. The web is one of the biggest changes that have been made in the business world. Due to the internet becoming increasingly popular, businesses have taken this to this advantage. The internet has shown to increase sales and strengthen relationships with existing and potential customers. The internet has helped widen the target market for many businesses. Businesses such as Sony are able to promote and reach to customers globally through the internet as trading resolves the issue of time differences for customers living different parts of the world. The progress of this has allowed businesses such as Sony gain sales and a profit boost. It also benefits the business as it allows the businesses to change products and pricing if circumstances change. This is a cost effective way of change as products being in stored would have to go through the process of reprinting advertising materials. Another reason why the internet has become cost effective is because it has allowed customers to access information on products that would otherwise have to be accessed through broachers, catalogues or leaflets. Telephone calls fast form of communication. This method of communication is effective as it allows instant discussion on a matter and response. Most businesses have a conference via telephone so that a number of people can be involved in a conversation and discuss business matters. Video conferencing is where a business will have a meeting through computer screens. Businesses may want to communicate with people in different locations. Video conferencing makes it easier for businesses to hold meetings within their premises without having to travel.

Welfare Cost in the Government is Running out of Control Research Paper

Welfare Cost in the Government is Running out of Control - Research Paper Example Costs of different commodities are running out of control while the Medicare is unfairly limiting options for almost every American. The name of poverty still lingers in the minds of many (June & Mark, 2004). This is because, the poverty is tragic and is as rampant as it was at the onset of the fight against poverty and welfare programs in the outset of 1960s. The history of the American welfare is intriguing as the Congress and other policy makers can take divergent paths. The Fantasy path, which opines that Medicare and Social Security can survive even without structural reforms, the â€Å"Welfare Empire†, has no problems even upon keeping over fifty million Americans in dire poverty, and there is nothing wrong (Marx, 2004). However, this paper intends to show that the cost of welfare in government is running out of control and the only way to end this problem is through divergent means that it will highlight. Today, the level of poverty in America is high, the cost of medic al health is expensive, and overly the cost of living is becoming exorbitant. With reference to Austerity path, the concerned officials tend to turn a blind eye on these issues and concede that, the best days of American life are over, then cuts rations care, attests that things like incremental change are not enough and cannot meet the existing challenges (David, 2010). Additionally, the radically divergent paths taken by policymakers result to cut benefits and a Gingrich path of growth and innovation that concedes that poverty will remain to be an inevitably concurrent fact of all American lives (Howard, 2002). Nevertheless, it has come to most peoples’ minds that, in spite of all the challenges facing Americans today, there exist numerous and radical measures that can save Americans from cash drainage and continuous siphoning of welfare funds (Eric & Glenn 2004). One, in order to control the cost of welfare in government from running out of control, the government could sl ow the growth of welfare, promote personal responsibility, give portions of welfare assistance in form of loans instead of grants, and/or the government and the other concerned agencies could simply do away with the welfare (Mink & Rickie, 2003). Organizations likely to benefit Enacting these measures would relief a number of organizations of the burden of providing welfare funds to areas that require it. For instance, the government of United States spends lost of dollars in funding welfare services such as medical health, insurance, food aid agencies, public utility steering agencies, and many other organizations within the States (Marx, 2004). It is agreeable that, if only America could invest in ending or relinquishing the welfare services, it would save itself a big deal of responsibility (June & Mark, 2004). Therefore, the Government of the United States of America is one of the agencies that would benefit from stopping or easing the welfare services. Findings make it clear th at the Government of the United States does not service welfare all by itself. Other agencies facilitate initiation of the welfare funds and they include the US Department of Health, The Treasury Department, Human services Department, and non-governmental organizations such as the World Food Program, The World Health Organization, and the UNEP (Wenli, 2002). Slowing the growth for welfare As indicated in this paper, slowing the growth for welfare will be part of the efficient and reliable measures aimed ensuring that the cost of welfare in government does not run out of control (Eric & Glenn 2004). This is because, as the history of relief and help runs deep in the hearts of fake poor people, slowing the grow

South African Economy Essay Example | Topics and Well Written Essays - 1500 words

South African Economy - Essay Example 4Governor Tito Mboweni signaled repeatedly in the past month that lending rates were set to rise again as underlying inflation become "more generalized", while stricter lending rules had so far failed to dent robust consumer spending and credit demand. 5 For the current business cycle, however, the hikes that were made to the country's interest rates recently are generally being considered to be the last. The causes of high inflation in South Africa primarily are two external causes; "The current price drivers are rising oil and international food prices, simply because demand outstrips supply in the international market for these products. The two are linked because the immediate effect of increased fuel prices is that it becomes more expensive to produce food, but this on its own does not necessarily lead to a general price rise." 6 Besides the policies of the South African government are not above contempt, and in fact these populist policies to appease some sections of the countrymen without concern or acknowledging the external causes in plunging the economy into despair. "Increased interest rates will have a direct effect on tax collections and therefore a direct effect on subsidizing the poor. This will lead to a rapid depletion of budget surplus, and to fill this gap the government has no option but to print money to fill in the gap." 7 This is leading South Africa towards hy perinflation. Impact of high oil prices on South African economy The high oil prices have severely affected oil importing countries like South Africa, whose capacity to generate electricity has been affected and which has "forced them to ration electricity". 8 Adding further, "The high price of oil impacts directly on firms, consumers and the government. First, it increases the domestic price of petroleum products, raises the cost of many immediate inputs, and as a result leads to higher production costs. Consequently firms may reduce their labor demand, investment and output. Second, as the short-run demand for oil is highly inelastic, consumers are forced to reduce their consumption of other goods and services to pay for higher energy bills." 9 Moreover, the rising oil prices will also affect South Africa's balance of payments, as exchange rates will work against them in international trade, this will reduce their level of economic activity since the amount of affordable oil that South Africa will be able to purchase shall be dramatically reduced under present conditions. "Consumers and firms could decide to reduce their oil consumption but since the demand for oil is highly inelastic in the short-term, they may be compelled to reduce their consumption of other imported goods. Doing so could undermine economic growth especially if capital goods imports are affected." 10. Poverty is another issue facing the South African economy, since the current policy will lead to more widespread poverty as lack of adequate fuel will drive up the cost, with the cost of transportation of goods and

Dissertation - Conclusion Example | Topics and Well Written Essays - 3000 words

- Conclusion - Dissertation Example The study adopted a qualitative approach through which both primary and secondary data were collected. Quality interview of one executive at the college was conducted and data from the students were collected through survey questionnaires. The role of the researcher was restricted to a participant observer. Secondary data has been obtained through extensive research on the academic libraries. The first objective was to evaluate the current international marketing strategy adopted by universities globally. The study finds that the education sector does not follow the traditional marketing framework. The students are different from customers and the HEIs are different from consumer products. The HE products are intangible which restrict the application of the marketing principles. Consequently the marketing mix and the targeting and positioning also differ. The marketing principle suggests that all marketing activities should be geared towards what the consumer wants. The consumer shou ld attain the different levels of benefits from the marketing efforts of the organization. Thus, the HEIs now go in for accreditation, which enhances the image of the institution. Students are more concerned with the image and reputation of the university and they seek reviews from past students before they make their decision. Relationship marketing has been adopted by many universities as consumers seek a closer relation with the institution they would be going to. Overseas seminars have been found to be an effective way to reach out to the consumers which also enables first-hand contact with the college authorities. The colleges should also distribute more of the prospectus with details of the standing of their past students. The prospectus could become an advertising medium and reach those nations and consumers who may never have heard of the college. The second objective was to evaluate the drivers of change in the current environment. Globalization, competition and marketizati on have altered the way academic institutions reach out to the students. Education is now a global, market-oriented, private industry and international mobility of students have driven change in the sector. Since the education sector adds to the GDP of most nations, governments are also changing their policies and procedures for this sector. Apart from adding to the GDP, the education sector also contributes in other ways to the nation’s growth. Singapore for instance, benefits from international competitiveness in innovativeness and technology. As competition increased and other nations stepped in, the UK authorities introduced scholarships for achieving higher levels of market share. Fees are steep in the UK and deter many students from enrolments. The private institutions do not have any cap on the fees the can charge and on the number of international students they can take in. This benefits the UK economy and hence government support should be forthcoming even for the pr ivate institutions. The curricula have been found to be lacking in practical experience although the universities claim that the teaching faculty is from the business world. However, circumstances such as these have forced the colleges to ensure that teachers have sufficient practical experience before they join an institution. The third objective was to determine the factors that influence the location decision in the field of tertiary education. Immigration formalities are lengthy, rigorous and time-consuming.

MIS Essay Example | Topics and Well Written Essays - 1250 words

MIS - Essay Example In United States there are more than 500 academic institutions who currently utilize this program. Players generally use Markstrat for making appropriate decisions related to areas of finance, research and development, and marketing. Markstrat helps to analyze market related data and then delivers required results. MIS or Marketing Information System is a strategic approach which is utilized to analyze current market scenario and predict outcomes. This approach can be stated as a management tool that is used not only by students but also by corporate. All market related data is greatly utilized for framing marketing strategies and gaining competitive advantage. MIS is a tool for executing marketing decision making. It supports marketing manager by making tasks simpler and easier. Market related data are of various types but this approach helps to gather this data efficiently. In overall context, analysis of such data facilitates formulation of best possible strategy (Piercy, 2009). There are four interfaces which are highlighted by marketing information system. These interfaces are application software, user interface, system support and database marketing. It can be stated that marketing information system serves as an integration tool. For any strategic decision making it is important to int egrate all forms of collected data. Real world information is integrated with real time application through marketing information system. MIS is responsible for integrating marketing monitoring mechanisms with strategic development. The basic components of MIS can be classified into four categories such as internal records, marketing intelligence, marketing research and marketing decision support system. Internal records means providing internal information about a firm. Marketing intelligence is related to collecting all forms of information mainly from external sources. On the other hand, marketing research

The predictions of corporate failures Essay Example | Topics and Well Written Essays - 2500 words

The predictions of corporate failures - Essay Example Corporate failures gained higher rates in last two decades. There are lots of factors that lead businesses to fail. Those factors attributed by different economists are high interest rates, heavy debt burdens and recession-squeezed profits. There are lots of industry-specific factors such as government regulation and the nature of operations, can results into to a firm’s financial failures. Studies have found that small, private and newly opened companies with poor cash flow planning and ineffective controlling systems are more exposed to financial crisis than the large and well-established firms. It is very important to have robust and reliable models that predict corporate failure accurately and promptly. It is very important for the management to take either preventive or corrective measure to secure the interest of all the stakeholders. This study would go to discuss about different models for preventing corporate failures and the study would assess the strengths and weakn esses of those models. Financial satiability is very important for any corporate house. Corporate houses are having lots of stakeholders attached with it. It is also an important duty of Government and Financial regulating authorities to keep a close look on the financial health of firm. There are lots of models are there to take preventive actions but it is very important to chose the right one for the right problem. Every model has its own strength and weaknesses. Identification of the proper model for the specific crisis is very important things to follow for any corporate house to avoid corporate failures. Failure of one firm can cause for a serious disaster for all those stake holders related with that firm. According to Beaver (1966), who used classification test to identify different financial ratios for corporate failure predictions. Author used 30 financial ratios and 79 pairs of companies for test

Economics and Government Assignment Example | Topics and Well Written Essays - 1000 words

Economics and Government - Assignment Example Q4. Politics is as important as economics because it involves the allocation of scarce resources. I believe so because politics design systems that are used in the allocation of scarce resources (Roth 100). Q5. Targeting public transfer programs in the US affected public support for government redistribution by lowering public confidence. There was the observation that resources set aside for redistribution were being misused hence not benefiting the target public. Q6. Canada has income redistribution through minimum wages. Minimum wages target low earning individuals and reduce the gap between the rich and the poor. Minimum wages does not affect public support for government redistribution in the same way. This is because income redistribution has resulted in the public gaining confidence in the government since there is an improvement in living standards. Q7. Public insuring of healthcare expenditures in Canada has the effect of increasing support for government redistribution because it reduces the burden of paying for healthcare. The case is different in the US because the public bears the burden of covering healthcare costs. Health insurance represents a form of government redistribution because everyone is able to have access to healthcare free of charge at any public healthcare center (Mankiw 24). This is a big deal because a large portion of the population is unable to have access to healthcare services as a result of high costs. Q8. A decline in private sector unionization is an indication that the public has confidence in the government hence supporting government redistribution (Deming 11). In the case of Canada, declining private sector unionization has the same effect on public support for government redistribution. Q9. ‘Great Divergence’ refers to the process through which European countries overcame growth constraints to become the wealthiest nations

How the Macroeconomic Environment Affects Human Resource Essay Example for Free

How the Macroeconomic Environment Affects Human Resource Essay A microenvironment is simply a small environment within the operations of a business in which there are specialized features that make environment different from other business environments. In essence, it is the nearby and surrounding factors that affect and determine this environment. These factors affect the ability of the company in terms of service provision. As a matter of fact, it affects the supplies of the company, marketing strategies, marketing intermediaries, public relations and general company operations. Generally, a business microenvironment refers to the factors or elements within a particular organization and its immediate area of operations that in one way or another, has an effect on the performance of the company as well as the decision making processes of the company or business. CITATION Cal14 l 1033 (Monroe 2014)These elements are among the general public, since they form the bulk of the market, the channels of distribution among others. At the end of the day, this environment is of much importance to the success of a business. This paper gives an in-depth analysis of the microenvironments and macro environments of supermarkets as well as mobile companies thereby giving the empirical and theoretical relationships between the performance and of these business organizations as compared to their environments. The best strategy of analyzing the microenvironment of a business organization is through the SWOT technique in which one analyzes the Strengths, Weaknesses, Opportunities and Threats within the company. CITATION Sub07 l 1033 (Subrata Ghatak 2007)The Strengths of a Company greatly determine the success of business organizations. The strength of a business organization can be measured in terms of; technological advancements, economies of scale as well as the availability of resources. The technology of a mobile company determines the amount of their sales. For instance, high levels of technology for a mobile company would reduce the cost of production that a company incurs. Decrease in cost of production simply implies that the company makes super normal profits, that is, profits greater than zero. Technology therefore plays a very key role. Economies of Scale have the same effect as well. Economies of scale simply imply to the company’s or supermarket’s market base. Companies that enjoy economies of scale lower their cost of production, thereby increasing their profit margins. Resource availability is also equally important. As a matter of fact, the importance of availability of resources to any business organization can never be underestimated. Resource availability is could imply human, natural or financial resource. All these are the drivers of the business, both in a mobile company as well as for supermarkets. CIT ATION Arv l 1033 (Arvil Van Adams n.d.)The weaknesses within an organization also determine its level of performance to a very large extent. What matters at the end of the day is how the supermarket or mobile company in question addresses the weakness that it faces in terms of operation. The most common weaknesses in either of these two enterprises are in terms of the prices, globalization and marketing. For mobile companies for instance, it is very difficult to come up with price floors owing to the products they produce. Generally, mobile phones are relatively expensive. As such, they are not the easiest products to market. Globalization on the other hand, is important since it determines the market base and network of a business. Most mobile companies have done tremendously well in this particular area. CITATION Sub07 l 1033 (Subrata Ghatak 2007)Opportunities and Threats play a very crucial role in the microenvironment of a business organization. They either make or break the org anization. The opportunities of supermarkets and mobile companies most of the time come as a result of collaboration. For instance, supermarkets can collaborate with the companies that they sell their products. It is through such strategies that supermarkets can easily give their clients discounts and offers. Discounts and offers are simply marketing strategies in which business organizations attract their customers. Mobile companies, on the other hand, can take advantage of their opportunities through collaboration with other electronic companies. For instance, they could collaborate with network service providers and as such use this platform to market their products. It is very important therefore, for a company to take advantage of whatsoever opportunity that comes their way. CITATION Les12 l 1033 (Leslie Hamilton 2012)A threat is another factor that is prevalent in the microeconomic environment of a business. There are various forms of threats that can affect the performance of a business. Threats may result from social, political or economic sources. However, common threats that mobile companies and supermarkets face are in relation to risks and uncertainties. Risks and uncertainties face almost every business and they could be in terms of price fluctuations, the risk of a technology becoming obsolete, market variations and so on. Competition is another threat that mobile companies as well as supermarkets have to deal with. It is a challenge that also comes an opportunity. Competition encourages organizations to come up with more advanced forms of technology for instance of mobile companies. Supermarkets, on the other hand, experience a lot of competition due to the homogeneity of products. CITATION Les12 l 1033 (Leslie Hamilton 2012)The next part of the paper gives an insight on the macroeconomic market. This market environment deals with broader economic issues such as inflation, unemployment, national income and GDP. The Pestel model is the best analy sis to use so as to examine this economic environment. The Pestel assessment basically deals with the political environment, the environmental environment, the social, technological, economic and finally the legal environment that surrounds an organization. Basically, a macro environment defines the conditions that exist in the whole economy as opposed to particular sections or regions in the economy. As such, this environment follows up the trends in the GDP market, monetary policies, fiscal policies, level of spending as well as employment. CITATION Dee06 l 1033 (Deepashree 2006) The political environment generally deals with the political factors that affect the performance of a business. Political factors, more often than not, come with policies. The fiscal and monetary policies for instance, affect businesses to a great deal. This depends on whether they are expansionary or contractionary. The government of a country has control of most businesses. Another way through which pol itical factors affect businesses is through the political environment of a country, that is, whether the political temperatures are favorable for investment. Political instabilities in a country greatly discourage investment. This affects both mobile companies and supermarkets since it raises the question of globalization. With high political temperatures, it becomes very difficult to explore global markets. CITATION Arv l 1033 (Arvil Van Adams n.d.)The environment, on its own affects the performance of a business. The environment of a business is basically determined by the climatic conditions. The climate, or weather, in this case, will mostly affect a supermarket. As a matter of fact, there are goods whose demand rises with temperature. Such goods are among electronic fans. Supermarkets are bound to experience increase in sale of such product in the hot weather. On the other hand, there are other products such as umbrellas whose demand is bound to increase with the onset of cold weather. As such, though to a small extent, environmental factors play a role as factors in the macroeconomic environment. CITATION Sub07 l 1033 (Subrata Ghatak 2007)Social and cultural factors have a major effect as elements in the macroeconomic environment. This segment affects the performance of a business through the traditions, customs and beliefs of a society. It also deals with the issue of aging. Aging has an indirect effect on the demand and supply of a commodity. For the working population, when they age, they are paid handsomely in terms of pension. As a result, most of them might tend to spend more on luxury goods. This is how mobile companies get to benefit. The general consumption for this proportion of population increases and as such, this also affects supermarkets. The beliefs and attitudes of a population also determine the consumption pattern through tastes and preferences. CITATION Cal14 l 1033 (Monroe 2014)Technological factors affect the operations and performa nce of a business to a very large extent. Technology has a direct effect on production costs. This is because high levels of technology imply less production costs. The relationship between technology and consumption is quite simple. Technology is a major factor of production, both for mobile companies and supermarkets. There is low demand of human resource with high levels of technology. This makes production relatively cheaper. The total cost of production reduces as well. The end result of this is that the profit margin increases. Technology may also become obsolete and this has a negative impact on the performance of the business. CITATION Les12 l 1033 (Leslie Hamilton 2012)Economic factors are the other factors that are prevalent in the macro environment of a business. Under this umbrella lie major issues to do with inflation, unemployment, GDP, Per Capita Income and many others. These factors generally create an economic environment and have the same effect on mobile companies and supermarkets depending on their degree of severity. A highly inflated economy means that the general price level of goods be it in supermarkets or from mobile phone companies. As a result, such an economy does not encourage investment by either of the two enterprises. CITATION Dee06 l 1033 (Deepashree 2006)Legal factors; these are legislations that affect the performance of a business. The quota system, for instance, is a legislation that affects the amount of imports. Narrowing down to mobile companies, they are affected by government policies to a very great extent. This is because their transactions mainly involve importation and exportation of products. Most governments have extremely stringent laws and regulations. Governments are often very strict especially with the quality of goods they import. Moreover, with respect to supermarkets, governments may have very strict regulations with regard to importation so as to promote local industries. Such issues affect the performa nce of companies to a very great extent. Taxes, which are stipulated by the government, are other pieces of legislation that both mobile companies and supermarkets have to come to terms with. From the above analysis, we can conclude that both the macro environment and the microenvironment have on the performance of a business, both positively. CITATION Arv l 1033 (Arvil Van Adams n.d.) References l 1033 Arvil Van Adams, ‎Robert S. Goldfarb, ‎Terence Kelly. How the Macroeconomic Environment Affects Human Resource. n.d. Deepashree. Microeconomic and Macroeconomic Environment. Tata McGraw Hill Education, 2006. Leslie Hamilton, ‎Philip Webster. International Business Environment. Oxford University Press, 2012. Monroe, Calvin. An Analysis of the UK Mobile Environment. GRIN Verlag, 2014. Subrata Ghatak, ‎Nige Healey, ‎Peter Jackson. The Macroecoomic Environment. Oxford: Oxford University Press, 2007. Source document

Message Cautious Listening Essay Example for Free

Message Cautious Listening Essay Listening can occur in: 1. One-on-one communication or face-to-face conversations 2. a small group 3. large group Levels of attentiveness 1. Nonlistener. This individual is preoccupied with personal thoughts unrelated to the speaker’s message. 2. Passive listener. This person hears the speaker’s words without really understanding them. This incomplete absorption means the listener lacks a coherent view of the entire message. 3. Semi-active listener. The listener attempts to get what the speaker says but still doesn’t understand the total intent. 4. Active listener. This person is more effective. The listener pays close attention to the words and their context. HEARING VS. LISTENING Hearing is a physical process; listening is a mental one. Listening involves comprehending and retaining what is heard. The listening process The listening process consists of 4 elements: 1. Hearing. It is a physiological process. When we hear, the auditory nerves are stimulated by sound waves. 2. Filtering. It is the elimination of unwanted stimuli. Filtering allows the listener to focus on stimuli that are of special interest. 3. Interpreting. The listener’s mind assigns meaning to the stimuli. 4. Recalling. It involves remembering at a later time the information that was interpreted earlier. Guidelines for effective listening 1. Concentrate on the message 2. Determine the purpose of the message ï‚ · Cautious listening ï‚ · Skimming ï‚ · Scanning 3. Keep an open mind 4. Use feedback 5. Minimize note taking. 6. Analyze the total message 7. Do not talk or interrupt Barriers to listening A listening barrier is anything that interferes with the listening process. 1. Physical distractions 2. Mental distractions 3. Health concerns 4. Nonverbal distractions 5. Inappropriate timing 6. Ineffective speech characteristics

Relationship Between Medication and Fatigue

Relationship Between Medication and Fatigue Title:-> Fatigue as a bringing factor conducting to medication problems a midst. New graduate registered nurses in a intensive care unit in Sydney western area health service (SWAHS) Aim:-> The goal of study was to analyse and to get deep awareness into the factors affecting medication short coming relies on nurses ability and their thinking of medication problem. Methodology:-> In this section, the researcher will classify and confer the research delineate will be assigned to conduct the study loading to result capability of being measured will be utilized to conduct the study. According to jiroiwong pepper (2011) quantitative research indicates to the scientific and business like check out method of main episode by means of assembling quantifiable knowledge and data to accomplish a research error. The researcher will collect facts relating the connection between fatigue and medication problem for innominate valid nurses as a sample of this study in a form of examine and questionnaire. In quantitative research design class, this study will distinctively assign non experimental approach since the study relevantly accords with its symptomatic that has no idea of operating the fickle relationship between variables. In the words of jiroiwong and pepper (2011) the suitability of non-experimental research object relies on the nature of postulate, If rules are met. Predicament contain theory assaulting to recognize non-accidental statistical relationship between capricious and theory is relating formal relationship yet, it does not allow liberated fickle to be operated. They are many forms of research delineate under non-experimental way that contains inter-relation study draf in peculiar. This draf is more in use when the researcher wants to measure assess and examine relationship or differences between liberated fickle and aligned fickle. Leading to examine, the main aim of study is to recognize and confer the relationship between fatigue and medication problems, where in fatigue and medication problems are two variables of topic of eagerness without controlling fatigue among annalised nurses. Study design:-> Examine draf is described as the methodology utilized in the study that serves a director for the researcher to answer the examine question. This examine’s aim as outlined in Part A, wants to approve best meet and research draf will be detailed phenomenology or the husserlian phenomenology. The object of detailed phenomenology is to animate other’s thinking of lived evidence while accenting the richness, meaning and deepness of experience. A part from this, Schneider et al. 2003 described that by phenomenology meet, values and belief of nurses can be showed and question that are mandatory to nursing can be researched. By examining the nurses we also take data to recognize the forms that conduct in medication supervisional errors. As a result the draf is suitable for the study to examine and describe as trusty as possible, the live experience and thinking of current nurses, who have under the training. Study population and sample:-> In suitable sampling plan is qualitative study is wide to foundation and maintain believability (Honser,2008) samples, also called as informants or partakers are selected particularly for their ability to answer the examine question rather than correspond an overall population (Honser,2008; tuckett,2004) sampling in qualitative examine is usually small and bull’s eye is more about deep or detail of data (tuckett,2004). This study proffer for a sample size of ten to give more accent to validity and asperity of our searchings. The study proposal is to get samples by object is essential and usefulness sampling. Objective samples are those who are chosen based on the set of blurred conon and easy samples are the most availability sample at had (Borbasi, Jackson Langford, 2004) target sample are nurses who have talented MAE. Participants will be pulled from the hospitals of Sydney west area health services. Samples will be approaching from the absolute wards in analysis to the high examples of medication investigations in these canny settings. In a study managed by Tang shev 44, wei Chen (2007) medical wards and all out care units are problems facing places in hospitals. Terrence James Aquino:-> Insertion plans are also used to limit the capable selection biootny by objectively recognizing who can be acknowledged to be while informer accidental planning are those who are not appropriate for the study (houser,2008). Incorporation criteria:-> Both genders registered nurses and nurses have talented MAE. All race and Regular staff or easy access Nurse working for 1 year and above in canny wards of SWAHS Exclusion criteria:-> NUMs Clinical nurse trainer Enrolled nurses who are not clinical endorsed Learner EN’s Recruitment and Retention Strategies:-> The process starts by representing this examine plan to the SWAHS and hospital organization. The object of this to get support and superscription in order to manage this study within the hospital grounds. A letter will be sent which describes the programme, its objective and necessity to the nursing industry. It will also contain the appeal to use hospital dexterity to use hospital ease for interview. With the assurance of conduct support to this study. We apprehend a smooth enlist process and high keeping rate. This will also decrease nurses disquiet relating the bad effect of involving the study. Upon acceptance by SWAHS, mobilization statement describing the nature and aim of study will be sent on the bulletin boards of each target wards. This contains the researcher’s contact numbers to call for those who are keen to participate. We will also point bunged box on the nurses stations for the interested nurses to give their name and contacts in detail. Some, who do not get sufficient associates, we strategy to mobilization period. For keeping of function, contributors will be hearten that only the examiners can avenue recognizing information for confidentiality. Greater impression will be given on description of aim of the study to recruit the compititors to stay! Examine or interview time and place will be pre-planned to nurses comfortability. Data collection:-> The examiners will be the tool for data collection. Because of the secretness of all information. The interviening transcription and data consideration will be managed the examiners. Data entry operator will be employed one time all recognizing knowledge is vanished from the information. The researcher will be organizing recorded interview which according to Roberts and taylor(2002) are the best way to bring it together for philosophy. To reduce the danger of losing data incase of failure of body parts, the recording will be investigated as well as support batternes, tapes and recorder before starting of interview. The interview may be organized in a secret room of local library or within the hospital staff away from the nurses wards to obey the secretness minimize the apprehension. The participants will be given the permission to chose the convenient place, date and time will be planned by them. The students who will be consulted for the interview to judge their participation, describe the nature of the study, give an overview of described consent and give them to acknowledged the study proposal. Each examine/interview will be conducted for one hour and will be increased for half an hour if required. The examiner will take note of the interviewer’s behave and the face expression as well as the body language during the interview. The strategy of data collection is self and not organized in detail so the interviewer can explain the ability in deep and detail. This method utilizes open-ended quest to encourage the participants to describe about their stories and relevant their experience in deep and impressive way. Interview will begin with a long question such as to describe your experience related to medication administration problem. Other question will be conducted relevant on the responses to the first question. Data continues until the examiner accept douse has been accomplished. Gibbs suggests that it is suitable to belay gathering data when it has become duplicacy and no issue are emerging. Data analysis:-> Data estimate is mandatory to abet the researcher together useful information and may also utilized for differenciate all the achieved information, whether it is numerical data of lined experience to further attached to a result. The purpose of the study to recognize relationship between two capricious which fatigue and medication. As a result, the researcher will make use of alternation statistic in order to estimate the data. Person’s will be used to indulge the relationship of independent and independent Flexibility of topic of interest. This correspondence measure is blossomed to conclude whether there is a unsuccess relationship between capricious. The value of the consequence is be token between -1 and +1 which announces the compass of linear relationship b/w two fickle. When value shows -1 this reveals correct negative correlation. While a +1 value shows perfect positive correlation. The result of zero contribute no relationship. Person’s v value be declared as lean linear relationship if value r ranges from .3 to .5 and lastly, if the value r ranges over .5 then the variable shows strong relationship. The information gathered from both methods of IIMS and questionnaire are entered into a computer and arranged to search out the periodicity of the problem. Study conduct and riguor:-> a quantitative research draf must ensure that tool is certain and acceptable certainity and conclusively are two methods to admit quality of the instrument. First main criterion of tools approachment is dependability. The believability of qualitative examine is relies on the comprise of responses collected over time and by asking different question about the same topic to certify the agreement of the information. Believeability of data collection was agreed in this study as only one researcher organized the interview. This study will use test-relate reliability to judge that to measure not alter at two different times. This responsibility test is commonly utilized with physical and technological measures, pencil and paper scale. It is completed through organizing two same measures but in separate time and compares both scores. Afterwards collection of scores will impartially undergo a reliability analysis or a so called analysis coefficient is a tool to quantitatively confer the eminence of a relationship through 0.00 which is not related to + 1.00 which means there is absolute relationship. It reveals durability when the value of coeffi cient is high. After all, if the consequence of two tests has altered value then accidental problems arise. This catch up is suitable as this is applicable only to quantative examine since it gets quantifiable information and the study is about recognizing relationship. Apart from this, the data collection to be utilized is paper scale and pencil that particularly applies to questionnaire in a likert scale format. Cogency is the second major gange of tool. This conclude that the tool alloments what it is assume to extent. To allowance cogency of study, the researcher will engage statistical conclusion validity. Reliability of data was abolished by selecting catch up. Participants to read through their manuscript and to check that the data had fluently and minutely catch their experience. Besides, two other researchers individually coded segments of some manuscript to accord the classification recognized by the interviewer. Ethical issue/consideration of data collection:-> this research section will confer application of conscientious rules and regulations that will be utilized in this study. Three uprights rules will cover during data collection to defend the affection of the participants; namely: informed consent right to intimately and innominateness and secrecy. Informed consent will be deliberated in data collection. It is a consent form that is written in chronicle form that must be given to anticipated sample. This accede is based on the rules of self-determination elucidating all the same information related the study where in the subject respondent may cogitate whether to participate or not in research study without any energy, cheating and any other form of bullying. In addition the description of danger and facility in participating in this study will also be included in a informed consent. Other correct rules that will be applicable in this study is secrecy. It will be differenciate by conferring to respondants that personal recognisation will be kept secret and will not be publicly divulged. The result will only utilized for the purpose of the study not to open any personal information. In application of namelessness, the researcher divides questionnaire that contains some confidentiality such as name and age. Secrecy will be also c laim in this study. Privacy is about their freedom to choose when to share all the knowledge and same information of their evidence. It will be displayed by giving permission the respondent to choose relating the time of their presence to answer the questionnaire. Timeline :-> In order to established the study the researcher must manage a timeframe in a system to organize the study. Gantt chart will be used show the process of study containing the decided starting and ending data. This study will be organized for near about 3 months Which contains sampling selection, data collection and researches, exploratory and final report.

A Critique of Colette Dowling?s excerpt of The Cinderella Complex: Wo

The â€Å"battle of the sexes† that rages on today is just as strong as it has always been. Although an ever-increasing number of opinions are being heard and made known, many people are still ignorant and hold on to traditional views that can sometimes be damaging. Even though there has been much progress in the ways of communication and understanding, much is still needed to be done and improved upon. Colette Dowling is a well-respected author on women’s psychological issues who uses her personal experiences and insights to enlighten women about themselves. In Dowling’s excerpt of The Cinderella Complex: Women’s Hidden Fear of Independence, she provides a clearly written and rational explanation on the psychological issues of dependency women exhibit, but lacks in supporting evidence and examples. One night she is lying miserable in bed, sick. She then becomes conscious of the fact that she is not despondent because she feels ill, but because there is no one there to comfort her. She realizes now that this is the way it has always been, she has known no other way. Throughout her childhood she was raised with the notion that someday somehow she would be whisked away by her prince charming and live happily ever after. She did not know what it was like to be truly independent. Nor was she raised to be comfortable with it. Boys were trained to be self-sufficient early on while her parents and society taught her that she did not need to be self-reliant; that she only needed to hold on until her â€Å"savior† came. This person (or so she thought) appeared after she had been raising her children alone for the previous four years. As their relationship grew, they reasoned that it would be good if they moved in together. Soon after moving in together, she found herself sinking into the same routines that she had in her marriage. Slowly but surely she fell into the groove of being a â€Å"good house wife† and stopped feeling the need to pursue her career. She found this surprisingly easy and natural. To take the place of her writing she began doing household chores and started cooking again. Within no time she had gained weight and was starting to feel the inadequacies that go along with not having to support one self. She started to doubt her effectiveness as a writer and ability for self-sufficiency. Her loss of ambition also created an unwanted hardship on the relationship b... ... of the stress that accompanies self-sufficiency. Many women in the modern world simply do not have a father figure around. Without the man being the savior, the girls do not have that crutch to lean on and therefore come to not expect any help in the future. These are the truly independent women of today. They have no choice; either rise up and take care of themselves or fade away. Throughout all of these concerns, one thing is evident and cannot be disputed. Humans are truly creatures of environment and circumstance. What may apply to one may be totally foreign and irrelevant to another. One cannot possibly make a blanket statement and without even researching it, expect it to apply to everyone. This is what Dowling attempts to do. All that she has the authority to speak about is her own personal experiences. She cannot possibly fathom all of the intricacies of human life and expect her personal views to be universal, nor can anyone else. No, she should not have had her book published by Ms. Magazine. Although her experiences may be valid for some, they would not necessarily be beneficial for those who were not brought up as she was. How can one expect to know the mind of all?

Helen Of Troy :: Ancient Greece Greek History

Helen Of Troy Helen was the most beautiful woman in the entire Greek known world. She was the daughter of the god Zeus and of Leda, and wife of the King of Sparta. The hero Theseus, who hoped in time to marry her, abducted her in childhood but her brothers rescued her. Because Helen was courted by so many prominent heroes, Menelaus made all of them swear to abide by Helen's choice of a husband, and to defend that husband's rights should anyone attempt to take Helen away by force. Helen's beauty was the direct cause of the Trojan War. The ten-year conflict began when the three goddesses Hera, Athena, and Aphrodite asked the Trojan prince Paris to choose the most beautiful among them. After each of the goddesses had attempted to influence his decision, Paris chose Aphrodite, who had promised him the world's most beautiful woman. Soon afterward Paris sailed to Greece, where Helen and her husband hospitably received him, Menelaus, king of Sparta. Helen, as the fairest of her sex, was the prize destined for Paris. Although she was living happily with Menelaus, Helen fell under the influence of Aphrodite and allowed Paris to persuade her to run off with him, and he carried her off to Troy. Menelaus then called upon the Greek leaders, including Helen's former suitors, to help him rescue his wife, and with few exceptions they responded to his call. Agamemnon his brother led the forces to Troy. During ten years of conflict, the Greeks and Trojans fought irresolutely. Then Paris and Menelaus agreed to meet in single combat between the opposing armies, and Helen was summoned to view the duel. As she approached the tower, where the aged King Priam and his counselors sat, her beauty was still so matchless and her sorrow so great that no one could feel for her anything but compassion. Although the Greeks claimed the vic tory in the battle between the two warriors, Aphrodite helped Paris escape from the enraged Menelaus by enveloping him in a cloud and taking him safely to Helen's chamber, where Aphrodite compelled the unwilling Helen to lie with him. Unable to capture the city after a siege of ten years, the Greeks resorted to strategy. Agamemnon's forces, namely Odysseus, came up with a plan. They sailed away and left the Trojan horse, filled with armed warriors, on the shore. Sinon, a Greek spy, persuaded the Trojans to take the horse into the city, convincing them that to do so would mysteriously make Troy invulnerable.

Chapter Essay

What do you think are the prime advantages and disadvantages of National City Corporation’s virtual tryouts? The advantages of using virtual tryouts are competitive edge against other companies. Allows them to pick candidates better suited for their work environment, allows candidates the knowledge that they are applying for a company that is at the cutting edge of technology and they want to move forward with the times. Unfortunately there are also disadvantages associated with virtual tryouts. Employers may grab the interest of candidates, however if real day to day activities at work do not contain some of the aspects that the virtual test had, then employees will get uninterested and quit. 2. Do you think there would be any EEO concerns regarding this system? I don’t think there would be any EEO issues with this system, otherwise it would not be offered in the market. However I do believe that this new system â€Å"Virtual Tryouts† is not necessarily right for all hiring aspects for every type of position/ company. There are aspects of a perfect employee to company match that a computer test cannot guarantee. Example, you can have a candidate that gets great results in the virtual tryouts given the situation that they are told to address, yet in the real day to day situation of the position they do not do very well, and vice-versa. 3. Would you suggest the company tailor its system for different types of candidates? Yes, I recommend that the company tailor its system for the different types of positions and the different types of candidates required to fill those positions. Chapter 8 Case Study Appraising Employees at the San Diego Zoo. 1. Do you think the San Diego Zoo’s old appraisal system needed to be changed? I think it needed to be changed because before they weren’t taking it seriously and it was a low priority to them. Now with the new system the employees will get raises depending on their performance which in turn will ncrease company performance. 2. What do you think are the pros and cons of using a Web-based appraisal system? The pros of using a web-based appraisal system is that it is convenient because a large group of people can be rated in less time and it will control personal bias. The cons of using a web-based appraisal system is that it gives too little attention to the overall performance of workers and in person interviews are more effective in rewarding or po inting out deficiencies in workers. 3. How do you think the new appraisal system will affect employees and the types of employees who work at the zoo? The new appraisal system will affect employees positively for those employees that are looking to grow with the company and be a part of the growth. When an employee is given targets and goals to reach, then they know what they are working towards and they are aware that if they reach the targets and goals there is a gain for them at the end. With this set, you will get employees that are willing to do the work and the time to get a job done right.

Critically Assess Whether Strategic Hrm Leads to ‘High Performance’’

Essay Question 1: ‘Critically assess whether strategic HRM leads to ‘high performance’’ Introduction There is a controversy whether the Strategic Human Resources Management (SHRM) leads to ‘high performance’. A general idea of SHRM is that â€Å"the linkage of management and deployment of the individual within the firm to the business overall and its environment whereas HRM is the activities that take place under this area. † Truss and Gratton (1994). It spotlights on long-term strategy.Two theoretical perspectives to the Strategic Human Resources Management (SHRM) will be introduced and compared to determine whether they manage to ‘high performance’ or not. First, the Universalist approach is ‘one best way’ of dealing human resource to improve business performance. Second, the Contingency approach is to align HR policies and practices with the details of business strategy to create a positive impact on business. In addition, two examples: a large company and a medium-size company will be used to illustrate both approaches practically.At the same time, there are issues associate with theoretical perspectives that need to be discussed. Such issues are the implementation problems as well as the measurement problems. After all, the question will be answered with analysing all of the above. The advantages and disadvantages of each approach will be identified by gathering views of researchers. To the final stage, both approaches are being recognised if the linkage is existence to ‘high performance’ and to the level of measure that are being noticed. Different approaches to SHRM * Universalist approachA Universalist approach is known as ‘best practice’ human resource management (HRM). This approach describes there is ‘one best way’ to manage people in order to improve organizational performance. It argues that all organizations, regardless of sector, size or country, will benefit from identifying, gaining commitment to and implementing a set of best HRM practices. The job of a researcher is to identify what the practices are, and a job of HR professional to implement them. For example, a research from Delery and Doty (1996) identify certain practices that improve organizational performance.The detailed components are ‘high performance work systems (HPWS)’ Berg (1999); Appelbaum et al (2000), ‘high commitment management’ Walton (1985); Guest (2001a, 2001b) and ‘high involvement management’ Wood (1999a). Another researcher by Jeffrey Pfeffer (1998) identifies that seven universally applicable practices will benefit all firms. The components include: 1) Employment security, 2) Careful hiring, 3) Self-managed teams and decentralized decision-making, 4) Comparatively high compensation, 5) Extensive training, 6) Low status distinctions and barriers, 7) Extensive sharing of financial and performance info rmation.The implication is that when a coherent bundle of HR practices is outlined, the integrated HR practices will impact positively on organizational performance. The ‘best practice’ HRM sees there is ‘one best way’ of managing people and that is appropriate across all circumstances. * Contingency Approach On the other hand, the Contingency approach is known as ‘best-fit’ HRM. It takes account of factors such as organizational size, location, sector, strategy and the nature of work. Baird and Meshoulam’s (1998) model advocates that HRM approaches will differ giving to different life-cycle stages.These life cycle stages ranges from start-up to maturity. While an organization is growing and maturing over time, it becomes gradually complex. Therefore, more sophisticated HR structures and policies are needed. This approach focuses on two types of ‘fit’ and ‘line management integration’. The first type is ‘E xternal fit’ and it is commonly known as ‘vertical fit’. It is in coherence and alignment with business strategy and external market factors. When HR policies and practices are aligned to strategic focus, performance will improve.Porter’s (1985) strategic options on 1) Cost Leadership, 2) Differentiation and Innovation and 3) Focus are adopted. The second type is ‘Internal fit’ and it can also interpret to ‘horizontal fit’. HR policies and practices are all fit together so that they are in coherence. They are also mutually reinforcing and are applied continuously. Jeffrey Pfeffer’s (1998) seven practices are adopted. Lastly, ‘Line management integration’ is when line managers act as a critical character in implementing HRM strategy. Best-fit’ HRM suggests that the best to manage people will vary depending on organizational circumstances, and hence, the link to business strategy is key. Empirical evidence of SHRM model * A large company – Tarmac The UK quarrying company Tarmac has over 12500 employees at present. The operations function is key to overall company’s performance. It needs the support of finance managers, zone managers and HR managers. A finance manager delivers financial and management accounts to contribute the strategic decision-making process by forecasting financial performance.A zone manager manages operational performance. They meet and improve targets for cost, quality, delivery, safety and business ethics shown in key performance indicators (KPIs). Lastly a HR manager ensures business managers apply HR policies and procedures. The company’s goal is to achieve objectives by motivating all individuals working together as one team across the business units and functions. Each objective has its strategies. The followings practices are to achieve ‘Engage employees’ and ‘Act Responsibly’ objectives.Firstly, Tarmac focuse s on a high level of employee involvement and encourages high employee commitment to the organization so that workers feel they are trusted and treated in an open and positive attitude. For example, employees regularly discuss with managers about their viewpoints within development teams. This helps workers feel part of the wider team, strengthens employee engagement and commitment to the company. Secondly, team-working practices create a closer supervision and a flat hierarchy. A coaching style manager develops employees to manage themselves rather than to manage each task.Employee’s suggestions are offered, and this contributes to improvements in organizational performance. An example of Tarmac targets and measures a decline in waste. In 2010, eighteen workshop-training sessions were held for all site employees on CO2 awareness and energy. All district managers were involved in the programme. Some external experts from Carbon Trust were also invited to support the rollout o f the training programme. As a result, Tarmac gained benefit from 500 energy and CO2 reduction. Overall, Tarmac adopted a high commitment strategy to meet the objectives.Therefore, it improved the company’s performance. * A small-medium size company – i-LEVEL i-Level is one of the most innovative digital media companies and is ranked the ‘Sunday Times 100 best companies to work for’ in 2004. It has a size of workforce of 60 employees. The i-Level company has a high level of financial performance. There was a 33 per cent increase in earnings per annum. Their guiding principles are used as a framework. This is to ensure the internal fit and the external fit of company. The company is at the growing stage which a lot of the recruitment effort is on discovering the potential staff. -Level frequently seeks appropriate employees to be supported to work with the company. To fit HR policies and practices together, i-Level uses physical arrangements to remove top-d own hierarchy in order to encourage employees’ participation, communication, creativity, self-managed teams and organisational values. As a result, a complete, open plan office is the environment where employees conduct their normal day-to-day operations. Moreover, i-Level sees pay is significant for performance. 15 per cent of the company’s pre-tax profit is kept for performance bonuses from 2003 to 2004.Meanwhile, the company argues pay is not their primary motivating force. On the other hand, the company aligns with business strategy and external environment by providing training courses for technical skills in media advertising. The company also offers an unusual training budget. There is an annual allowance provided for personal training and development purposes that are no obvious relation with work. The belief is to develop the skills and interests of workers in ways not studied before. This is expected to enhance i-level workers’ innovative thoughts at w ork through practices outside the company’s work area.To summaries, i-LEVEL achieves competitive advantage through innovation and which competes in very tight labour markets. It adopted Porter’s strategic option of ‘Focus’ and Pfeffer’s 7 practices to enhance the company's performance. Additional issues to reflect * Problems of implementation Line managers are central HRM performers in the organization, and they play a vital role in implementation of HR policies and practices. They influence their team‘s performance in a direct manner. A number of factors account for the line management problem. Firstly, it seems there is devolution to line managers.For instance, line managers do not want the responsibility of being a line manager or do not have enough time to deal with it accurately. They might not have the skills to handle HR issues successfully or are unaware of recent developments in view of HRM. Some managers do not consider a long-term v iew of the company or are inefficient for making policy in this area. Secondly, McGovern et al (1997), Marchington (2001) and Hutchinson and Purcell (2003) identify there are differences between ‘espoused’ and ‘actual’ policies that are relatively recognized to line managers.For example, some policies are normative rather than positive. Some descriptions of policies and practices are in general terms rather than analytical about actual situations. Hence, managers are unable to implement them specifically to meet the company’s goals. Furthermore, a broader issue, the line manager jobs in firms become progressively complex due to new firms’ structures. For instance, virtual and network companies have less clear line manager characters than the layered hierarchical company. One observable implication is pressure for reducing the size of the HR department.There will be a cut down in numbers of HR professionals. Ultimately, these factors all affect the organizational performance due to unsuccessful implementation of HR policies and practices. * Problems of measurement Fitzgerald (1991) and Neely (1998) stated that performance measurement is a key issue in guaranteeing the effective implementation of a firm’s strategy. However, using inadequate measurements is poor in supporting managements’ business objectives. The followings are the circumstances. Scientists use large-scale data groups made self-completed questionnaires.This will lead to two problems. First of all, there is dependence on one person, to represent the whole group. Secondly, there is dependence on a design of questionnaires. For example, respondents are answering yes or no questions rather than giving thoughts and opinions. This type of questions may generate a less accurate result. Moreover, there is uncertainty of how the data should be gathered, presented and analysed. The major problem is mis-reporting single respondents. Respondents may have limited knowledge of the area and use of policies.Furthermore, the measures of performance commonly take account of the financial performance, whereas there is a few findings focus on the broader issue of employee attitudes and well-being. Equally, there are matters to the range of HR practices. For instance, a report shows statistics of whether a company has self-managed teams, some may look at the proportion of workers running in a self-managed team. Lastly, Atkinson (2005) suggests that the measurement of productivity in the service sector can be exceptionally challenging.It is always easy to get typical, comparable financial statistics. To sum up, the measurement of data are related to the level of relevance to business performance. Critical analysis of the beyond * Best practice Pros ; Cons Research states there is a positive link between the HR practices and organisational performance. Firstly, Huselid (1995, p. 667) discovered that ‘the degree of returns for investments in High Performance Work Systems is significant’. In fact, ‘A one standard deviation rise in High Performance Work Systems practices is associated with a comparative 7. 5 per cent drop in labour turnover. On ‘per employee’ base, $27,044, $18,641 and $3814 more in sales, more in market value and profits respectively. Secondly, the workplace employee relation survey (Cully et al 1999) indicates that there is 14 per cent of organisations adopted high commitment strategy. In contrast, researcher (Delery 1998) also emphasized ‘deadly’ bundles of practices need to be avoided. For example, it occurs to managers giving reward based on individual performance while they are working as a team.Furthermore, Boxall and Purcell (2003, p. 64) commented while multi-national companies make the effort standardise their practices across nations, national perspective and organisational sectoral perspectives show criticism on the effectiveness of these practices. M archington and Grulis (2000, p. 1117) argue the most common example is in labour intensive organisations recognise costs are expensive when they use these practices. To summaries the best practice approach, Guest’s (1987) argues that there is no best practice.At the same time, he also suggests a set of best practices such as high commitment management is the route to survival of UK business. This leads to an argument that in order to enhance company performance, managers must alter their HR policies and practices to the framework that is operational. The interpretation comes to ‘best-fit’ approach. * Best-fit Pros ; Cons Thompson (2000) conducted two studies of firms in the UK aerospace industry. His first study in 1997 showed that with higher levels of value added per worker encourages greater diffusion of innovative working practices with their non-management employees.These organisations are towards to more heavily engaged in specialist production for niche ma rkets and hired technical and professional workers. The second study in 1999 showed evidence that organizations introduced a larger number of high performance work practices had much enhanced business performance. As a result, companies moving from less than five to more than six innovative practices created a 34 per cent increase in value added per worker. On the other hand, Miles and Snow (1984) align suitable managerial types to three genetic strategies of prospector, defender and analyser.If managerial properties and skills are aligned to company strategy, there will be a higher level of link to organisational performance. Thomas and Ramaswamy (1996) offered such support. As a result, performance in aligned firms was statistically excellent. In comparison, (Purcell 1999 p. 35) outlines that a number of successful organisations features that are unable to model. These are the cultural norms that have been developed gradually over a long period associated with accomplishment. It i s easy to identify the key factors that drive to success. Especially when the organisations are large and complex.Imaginably the major problem is that many organisations exist inside complex external environments with multiple contingencies that are not to be ignored or recognized. * Comparing both approaches Each approach has advantages evidence and disadvantages evidence. It could be argued that different approaches can apply in different sectors. For example, Guest (2001) advocates that there is the possibility that a high commitment management is most applicable in manufacturing i. e. Tarmac, while strategic choice for fitting with business strategy, is more credible in the service sector i. . i-LEVEL. As a whole, critically discuss the link between SHRM and performance. Evidence from Patterson et al (1997) examined sixty-seven manufacturing businesses in the UK for a period. The outcomes were 19 per cent of profitability and 18 per cent of the variation in productivity could be certified to HRM practices. This demonstrated HRM practices has a positive impact on organisational performance. Conclusion In summary, SHRM consists of a number of practices and is an organization level analysis of how HRM systems impact on performance.Two theoretical perspectives outline different views. The ‘best-practice’ approach defines there is ‘one best way’ of managing people. It is appropriate across all circumstances. Whereas ‘best-fit’ approach terms the best to manage people will change depending on organizational circumstances. It highlights the essence of linking business strategy. Tarmac was used as an example. It applied the ‘best practice’ approach and adopted a high commitment strategy to meet the objectives. Hence Tarmac improved its firm’s performance.I-Level was used an example to describe the competitive advantage the company had achieved through innovation while competing in extremely tight labour ma rket. It adopted Porter’s strategic option of ‘Focus’ and Pfeffer’s 7 practices to enhance the firm’s performance. Empirical evidences show both organisations are successful with adopting different approaches to their specific, targeted firms. These firms had a positive impact on performance. This can be concluded that SHRM has a clear link to business performance practically. In depth, other issues such as implementation and measurement roblems are considered. Problems of implementation affect the organizational performance due to unsuccessful implementation of HR policies and practices in line management. On the other hand, problems of measurement are valued on the basis of how easy and difficult the data is to represent and most importantly the level of relevance to business performance. If the relevance is slight, it may have little or no impact on business performance. In the final stage of comparing both approaches, many researchers’ po int of views is gathered. ‘Best-practice’ approach has advantages and disadvantages.It seems to argue that high commitment management is the route to successful business performance. On the other hand, the advantages and disadvantages of ‘best-fit’ approach suggest that applying this approach can be rigid and inflexibility due exists of complex external environments. Furthermore, in recent arguments, the product labour market seems to be emerged to a new post-industrial age where employers will tend to hire self-employed workers to carry out specific, time-limited projects for companies. This is due to the prediction of radical change.It can lead to a view that ‘best-fit’ approach should to be managed appropriately. This means practices should be adequate in different company’s life-cycle stage and align with different strategies. So that, it can feasibly enhance the organizational performance. Finally, strategic human resources manageme nt gives evidences, views, researches and facts to enhance organizational performance. However, the degree of high performance in context varies in different organizations under their circumstances. Hence, it does not necessary impact to ‘high’ performance.

Project on Gulistan Textile Mills

ACKNOWLEDGMENT All the appreciation and gratitude is for the Almighty Allah who is the most merciful and beneficial. He is the only one who bestowed us knowledge and wisdom and made us capable of doing the challenging tasks. We thank the Almighty for all those capabilities that He granted us to complete this project. Secondly we are very thankful to our teacher Prof. Aitzaz Khursid who worked day and night with us for this project. He helped us at each and every step and guided us in every difficult situation. We are thankful to the other teachers as well whose support and guidance was an asset for the completion of this project.We would like to thank our parents and family members as well because they provided us the financial and moral support in doing this project. And last of all whatever we have done, it is just because of the coordination and cooperation of all the group members. They worked hard researched through different sources. Table Of Contents: Industry Profile†¦Ã¢ € ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦.. 4 Company Profile†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦Ã¢â‚¬ ¦.. 6 Vision Statement†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 8 Mission Statement†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 9 PEST Analysis†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚ ¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. .. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦Ã¢â‚¬ ¦. 11 * Political Forces * Economical Forces * Social Forces * Technological Forces Porter’s Model†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 13 Opportunities & Threats. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 15 EFE Matrix†¦Ã¢â‚¬ ¦. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦17 Critical Success Factor†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã ¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦. 18 Competitive Profile Matrix†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 19 Strategic Internal Audit Of Departments†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦21 * Marketing * Finance * Accounting * MIS * HR Organization’s Strengths & Weaknesses†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 7 IFE MATRIX†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã ¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 38 SWOT Matrix†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 39 Long Term Non-Financial Objectives†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦40 Long Term Financial Objectives†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦41 Findings†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦41 * EFE * CPM * IFE SPACE Matrix†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 43 BCG Matrix†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 46 IE Matrix†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 48 Grand Strategy Matrix†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦.. 50 QSPM†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚ ¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦52 Conclusion†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 56 Learning†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦57INDUSTRY PROFILE The textile and apparel industry is often considered the backbone of the Islamic Republic of Pakistan’s economy. In that south Asian republic which shares borders with China to the north, India to the east, and Iran and Afghanistan to the west, as well as the Arabian Sea to the southwest cotton textiles and apparel historically were the f ocus of the industry, mainly because of the large amount of cotton grown in the country. In fact, Pakistan currently ranks fourth among world cotton producers and third among world cotton consumers having produced 9. million 480-pound bales and consumed 11. 8 million 480-pound bales in the 2010/2011 marketing season. Pakistani textile manufacturers recently have diversified their product offerings to include man-made yarns, fabrics and apparel as the result of shifts in global demand for cotton-blend apparel. Other recent economic factors, such as the end of textile quotas in 2005, have caused Pakistan’s textile industry to continue to adapt in an effort to remain globally competitive. The republic’s textile and apparel industry in 2011 consisted f ginning, spinning, man-made fiber, weaving, finishing, apparel, terry towel, tarpaulin and canvas, and knitwear machinery sectors. The textile and apparel industry as a whole employed approximately 40 percent of total indust rial workers and accounted for 46 percent of total manufacturing. There were 1,221 ginning units, featuring an installed capacity of 20 million bales of cotton. The spinning sector comprised 408 spinning units, with an installed capacity of 157,143 rotors; and 50 composite units, with an installed capacity of 10. 1 million spindles.The country’s 10 man-made fiber units had an installed capacity of 660,000 tons. The Pakistani government’s Board of Investment reported 124 large and 425 small weaving units, with a total production capacity of 4. 4 billion square meters of fabric. With regard to finished textile goods, the country’s 5,000 apparel units featured an installed capacity of 450,000 sewing machines, show organizers reported. The installed capacity for Pakistani knitwear manufacturers numbered 12,000 machines. Tarpaulin and canvas production capacity totaled 100 million square meters, while installed capacity of terry towels totaled 7,500 looms.While the P akistani manufacturing sector as a whole in 2011 accounted for approximately 25 percent of the country’s estimated gross domestic product (GDP) of US$395. 2 billion on a purchasing-power-parity basis, the textile industry’s diverse product offerings accounted for 11 percent of the country’s GDP, as reported in the aforementioned IGATEX Pakistan report. In addition, approximately 60 to 70 percent of total exports came from the production of cotton textiles and apparel, which are considered Pakistan’s largest industries.The Business Recorder, a Karachi-based financial newspaper, reported in June 2011 that the textile industry’s value addition accounted for more than 9 percent of the GDP, and that the industry had a market share of approximately 30 percent in world yarn trade and 8 percent in cotton cloth. With the recent decline in textile exports and a record-setting trade deficit that reached more than $2. 1 billion in the first two months of 2012, Pakistan’s textile industry currently is confronting new economic challenges.Including the spinning, weaving, value-added apparel and made-up and home textile sectors had begun to downsize its workforce. A hike in interest rates in July 2011 by the country’s central bank led to increases in export refinancing, long-term commercial and industrial credit, and, ultimately, rising production costs. Furthermore, exporters are facing steep price competition from manufacturers in China, India and Bangladesh. COMPANY PROFILE Gulistan Group of Companies began with the establishment of Gulistan Textile Mills in 1966.Gulistan Group of Companies since then the group has expanded substantially to become one of the largest textile groups in Pakistan with over 6000 employees Gulistan Group of Companies main focus of this carefully designed expansion has been to add stability to business obligations and win customer confidence in product quality, reliability and competence. This appr oach towards progress and growth is visible in Gulistan Group's enormous success in all of its undertakings to date. Gulistan Group of Companies an annual turnover of US$140 million. Gulistan Group of Companies all units are listed company.Gulistan Group of Companies head offices are in Lahore ; Karachi. Gulistan Group of Companies has: * 11 spinning mills producing 60,000 tons of yarn per annum. * 2 woven fabric mills producing 16. 5 million meters of fabric per annum. * 4 Power generation plants producing 21 megawatts of electricity. * Gulistan Group of Companies are manufacturing (Yarn, Fabrics, Apparel, Cotton Clothes, * Towels, Bed wear, knitwear, Raw Cotton, etc) Yarn Gulistan’s 9 spinning mills with 215,000 spindles and 4,200 rotors produce 70,000 tons per year of cotton ; blended yarns from 4/1 to 120/1 as well as up to 10-plied yarns.This is complemented by a yarn dyeing plant with a capacity of 3,000 tons per year of a wide variety of melange and dyed yarns. Gulista n Group has one of the largest and most versatile spinning setup in Pakistan. Fabrics The state of art weaving unit with its 255 air jet and projectile looms have a capacity of weaving 36 million linear meters of high quality greige fabric in widths ranging from 40 inches to 144 inches and thread counts as high as 600 in single, Apparel Gulistan has set up a 500 stitching machines woven apparel unit ensuring aesthetics, elegance and fineness.Gulistan is producing 8000 trousers per day through its latest state of the art mechanical setup, production planning systems and design mechanism. Home Textile Home Textile products are the latest addition to the group’s product range. A manual fabrication facility is being setup and exports have already begun of top quality yarn dyed sheet sets into the United States. Vision Statement * To become a complete and integrated textile conglomerate. * To become an institution that delivers extra value through superior product quality and prof essionally principled management. To stay abreast of technological advancements to meet the changing and challenging requirements of our customers. All of us at Gulistan are committed to delivering more to our customers all over the globe. We seek growth through state of the art technological innovations and continuous improvement in our operations. Analysis Basically Vision statement is the answer of the question that â€Å"what do we want to become? †And it is a really important component of the organization. If the organization wants to formulate any strategy clear vision is the key component required for that.Let’s analyze the vision statement of Gulistan point by point. * Conglomerate means â€Å"A group of diverse companies under common ownership and run as a single organization† so it’s clear that they want to take over the whole textile industry under their own company. This sends a clear message to the competitors that they want to compete. This statement motivates the employees because they made it clear what they want to become. * The organization promises to deliver quality product and good management so this is their competitive advantage because the quality and the management make the difference.This statement sends the clear message to the customers or the target market that quality and management is their core competence. * As we all know that this is the time of globalization. The customer demands and needs are more challenging than the previous times so technological advancements are necessary for the organization. It’s a good thing to include in vision statement because it shows the strength of the organization that they opened their door for technological advancements to fulfill their other vision components. The major portion of the revenue generated by Gulistan is from their exports so they also covered the global prospective by stating that they are committed to deliver more for their customers all over the globe. This also covers that they are targeting the customers not only from Pakistan but all over the globe. * As the core rule of vision that it should be broader so they stated in their vision that they will seek through state of the art technological innovation and continuous improvement in their operations.This shows the broader vision of the organization that they are not stereo type and they always open their arms for improvements. This is a really a good vision statement which covers all aspects like Industry, customers, core competence, competitiveness, product and employees. Mission Statement Commitment towards excellence, to our customers, to society is the foundation that we have built upon; from it we drive our strength. Gulistan has held the traditional values of honesty, integrity and commitment in high esteem. The structure of each of our business units is designed to integrate experience with technological advancement.With the effort and expertise put in by the 10,000-members of Gulistan family, our state of the art units are producing world-class yarns, fabrics, made-ups, apparel and household products for our local ; global customers. Our plans are geared towards expanding our global presence; providing quality products and developing relationships while at the same time serving the community we live in. Analysis Mission statement must have 9 basic components let’s see that how gulistan is fulfilling those 9 mission components and I also highlighted them above. Customers– Local and global customers. * Products– Yarns, fabrics, made-ups, apparel and household products. * Markets—International & Global Markets * Technology– To integrate experience with technological advancement. * Concern for survival, growth and profit—Expansion of global presence. * Philosophy– Traditional values of honesty, integrity and commitment in high esteem. * Self Concept– Providing quality products and deve loping relationships. * Concern for public image– Commitment towards excellence, to our customers, to society. Concern for employees– The effort and expertise put in by the 10,000-members of Gulistan family. This is a really a good & comprehensive mission statement which covers nine basic components of mission statement like customers, products, markets, technology, concern for survival & growth, philosophy, self concept, concern for public image & concern for employees. PEST ANALYSIS Political * Rules and regulations by the government for the collection of taxes have impact on the organization. * Rules and regulations imposed by the government on import and export effect the organization. Different types of export duties by government also effected organization to discourage from export their product. * Day to day changing in political situation in Pakistan had a bad impact on organization. * Organizations are discouraged to expand their business due to changes in pol itical situation. Economic * Economic condition of our country is very bad so it has a great impact on industrial sector. * Due to bad economic condition industries are suffering from low profit. * Due to inflation profit of industries is reducing because it impact on industries to increase in prices of products. Bad economic condition results in to reducing number of industries in a country and to unemployment. Social * Unemployment is increasing day by day due to electricity shut downs in our country. * Attitude of the people on work is not improving due to low salaries are given to them in response to their work. Technological * Volatile technologies are launched day by day which has a great impact on organizations to serve in market. * Fast internet browsing eliminates gap between importers and exporters. * Modern customized software reduces human effort and it tends to save time and money of owner. Advertising agencies make it easy to access their customers at home at any time on national and international level. * Innovation in technology increases efficiency of organizations to compete in the market and to increase productivity. Conclusion: Technology has a great impact on the industry. Due to technology, they face new challenges, which check their abilities and improve performance. Gulistan adapts latest ways of technology & is successfully doing their business. PORTER’S MODEL 1. Threats of new entrants The threat of new entrants in the retail industry keeping in view the brands that we have chosen is low.As the scope of the textile business, Gulistan is providing a vast category of products under one roof. The new entrants face several barriers which primarily includes the high costs involved in starting this business. Secondly the product offered by them is highly differentiated product which also discourages new entrants. With such established brands it becomes very difficult for the new entrants to make a position in the market or capture ma rket share. Thirdly the cost involved in having an exclusive distribution is very high which also serves as a barrier to entry. 2. Threats of substitutesWe are analyzing the threat of substitute can be classified into the following category of: * Local Market * International Market The threat of substitute is medium to low in local market. People might switch brands if they think due to any reason the brand is not providing satisfaction. But on the other hand people who are brand loyal would not think of any substitute. But in the international market the threat of substitutes is pretty high because other industries ; competition. 3. Rivalry among existing firm The rivalry among the textile industry is high, both in the local market and for the international market.In case of the local market the number of competitors is very large and all moves are competitive. Majority of them are even located in the same areas ; are challenging each other’s positions, taking sales from eac h other. The international market is also on the competitive moves. Launch of new product by any brand impacts the other brands like the recent launch of Gulistan impacted the sales of other exports ; international brands too. 4. Bargaining power of suppliers The bargaining power of suppliers is high in retail industry as the suppliers can supply to any firm they want.In international ; local market some industries have multiple suppliers and therefore have great impact on the sales of the business. The products at these stores are differentiated and therefore the switching costs involved are very high. Alongside the substitutes in case of suppliers is also not viable as brand equity is also very important. 5. Bargaining power of buyers The bargaining power of buyers is high in the international market but in case of local markets it is low. The reason for the high bargaining power in local market is * Plentiful alternate suppliers Product not differentiated * Access to substitutabl e products * Plentiful options for consumers. On the other hand in case of the international market the bargaining power of buyers is low because * Less alternatives * Differentiated product * Changing supplier costs high to the seller Conclusion: As we discussed above the textile industry is very vast in Pakistan the competition in local markets is high because there are many textile companies working here. People have plenty of choices to select between different brands. So companies are competing neck to neck for customer satisfaction.Quality is the most important to maintain competitive edge over other brands. Globally the competition is also tough because textiles are included in the major exports of Pakistan. Quality and variety both are important in international markets. Gulistan is producing variety of products with supreme quality so they should improve and sustain it to remain in competition. Opportunities ; Threats Opportunities Pest analysis * Fast internet browsing eli minates gap between importers and exporters. * Modern customized software reduces human effort and it tends to save time and money of owner. Advertising agencies make it easy to access their customers at home at any time on national and international level. * Innovation in technology increases efficiency of organizations to compete in the market and to increase productivity. Porter’s model * Threat of new entrants is low. * Threat of substitute is low in local market. * Low bargaining power in local market. Threats Pest analysis * Rules and regulations by the government for the collection of taxes have impact on the organization. * Rules and regulations imposed by the government on import and export effect the organization. Different types of export duties by government also effected organization to discourage from export their product. * Day to day changing in political situation in Pakistan had a bad impact on organization. * Organizations are discouraged to expand their bu siness due to changes in political situation. * Economic condition of our country is very bad so it has a great impact on industrial sector. * Due to bad economic condition industries are suffering from low profit. * Due to inflation profit of industries is reducing because it impact on industries to increase in prices of products. Bad economic condition results in to reducing number of industries in a country and to unemployment. * Unemployment is increasing day by day due to electricity shut downs in our country. * Attitude of the people on work is not improving due to low salaries are given to them in response to their work. * Volatile technologies are launched day by day which has a great impact on organizations to serve in market. Porter’s model * Threat of substitute is high in international market. * Rivalry among existing firms. * Bargaining power of suppliers is high. * High bargaining power of buyers in international market.EFE MATRIX KEY EXTERNAL FACTORS| Weight| R ating| Weighted Score| OPPORTUNITIES| WTO regime implementation. | 0. 12| 4| 0. 48| Cost reduction by using modern and technology| 0. 13| 3| 0. 39| Local market development| 0. 10| 1| 0. 10| Entering in Energy sector. (Subject to Government permission)| 0. 11| 2| 0. 22| THREATS| Export of raw cotton and yarn| 0. 12| 4| 0. 48| WTO regime implementation| 0. 10| 4| 0. 40| Exchange rate fluctuations| 0. 09| 2| 0. 18| Instable political and economical conditions| 0. 12| 4| 0. 48| Government policies| 0. 11| 1| 0. 11| TOTAL| 1. 00| | 2. 84| Interpretations:EFE score of 2. 84 indicating that the Gulistan is taking the external opportunities and avoiding external threats quite well, however there is room for improvement is well. This score suggest Gulistan to be aggressive but the degree of aggressiveness needs to be little moderate, it should not go for diversification, rather it should go for penetration in the existing market, further developing local or foreign market or it may design a new product. Critical Success Factors Critical Success Factors are: * Product design * Technological up-gradation * Research ; development * Market Segmentation Distribution ; promotion * Capacity utilization * Persistence in product quality * Efficient procurement of raw material * Effective management * Trained manpower * Cost competitiveness * Customer satisfaction ; loyalty Competitive Profile Matrix CRITICAL SUCCESS FACTORS| | Gulistan Textile MILLS LTD. | CRESCENT TEXTILE MILLS| CHENAB TEXTILE MILLS| | WEIGHT| Rating| Weighted Score| Rating| Weighted Score| Rating| Weighted Score| Product design| 0. 07| 4| 0. 28| 3| 0. 21| 3| 0. 21| Technological up-gradation | 0. 11| 3| 0. 33| 4| 0. 44| 3| 0. 33| Research ; development| 0. 0| 4| 0. 40| 3| 0. 30| 2| 0. 20| Market Segmentation| 0. 07| 2| 0. 14| 2| 0. 14| 4| 0. 28| Distribution ; promotion| 0. 07| 3| 0. 21| 3| 0. 21| 2| 0. 14| Capacity utilization | 0. 08| 3| 0. 24| 3| 0. 24| 2| 0. 16| Persistence in product quality| 0. 09| 4| 0. 36| 3| 0. 27| 4| 0. 36| Efficient procurement of raw material | 0. 09| 3| 0. 27| 3| 0. 27| 3| 0. 27| Effective management| 0. 08| 3| 0. 24| 4| 0. 32| 2| 0. 16| Trained manpower| 0. 07| 4| 0. 28| 3| 0. 21| 3| 0. 21| Cost competitiveness | 0. 10| 2| 0. 20| 2| 0. 20| 1| 0. 10| Customer satisfaction ; loyalty| 0. 7| 3| 0. 21| 3| 0. 21| 2| 0. 14| TOTAL| 1. 00| | 3. 16| | 2. 98| | 2. 56| INTERPRETATIONS: A Gulistan Mills limited is dominating in the industry as compared to local players. There are several competitors like Agzard 9, Kohinoor textile mills, etc, but above taken competitors are the major ones. CPM scores for Gulistan showing aggressiveness as compared to the crescent and Chenab textile mills. Gulistan is number one company within the local environment; it is basically leading the industry in the following aspects: * Product design. * Research ; development. Persistence in product quality. * Trained Manpower. Moreover, crescent textile mills is resides at the second number and leading industry in effective management style. Finally Chenab textile comes at number 3rd with leading position in persistence in quality and market segmentation. Strategic internal audit of the company of the following departments * Marketing * Finance * Accounting * MIS * HR MARKETING DEPARTEMENT Sales ; Marketing department at the Gulistan Textile Mills Ltd. is involved in following three types of sales. * Exports * Local Sales * Wastage SalesFor these three types of sales the Gulistan Textile Mills Ltd have following two Sale ; Marketing offices. * Lahore Office * Faisalabad Office Exports The Gulistan Textile Mills Ltd exports all his goods through the agents in the different countries across the world. The direct sales to the foreign customers are very low. Gulistan Textile Mills Ltd. Export Agents Customers Export Agents Following are the major export agents of the Gulistan Textile Mills Ltd. * KSEO SEOUL KOREA * ATEX INTERNATIONAL * TAIZEUS LAILA ISLAM * SENCO INTERNAT IONAL * ESTERN KOREA * R. D JAEWARDANE INDIA * MITSUI ; CO INDIA * FIBER SMITH INTERNATIONALExport Customers Following are the customers of the Gulistan Textile Mills Ltd across the world. * COTTONNIERE DU, SENIGAL * CHINA TEXMAT CHINA * HAESONG BANGLADESH * EL HARAMEEN CO. EGYPT * ZHEJIANG IMPORT CHINA * KANDYGS HANDLOO SRILANKA * CRYSTAL MARTIN UK * RESTEX COMPANY USA * OASIS NJRT GENE TURKY Internal Audit Check List * Target markets are effective. They are relying mainly on exports so market is divided into one small portion of local sales and other major portion of exports. * Currently their exports portion is doing great among all other competitors like nishat mills is behind in the exports section. Firm market share is stable locally but in exports they already acquired major international markets. * As they have sales and exports agents on 2. 5 % commission which are doing well for them * Customers are pretty much satisfied with the product quality because they never compromi sed on product quality. * Gulistan is maintaining good quality with reasonable price which is the key factor for their huge sales * They are less focused on their advertisement because they have sales agents. They have invested in print media for advertisement. * They have trained managers and with minimum 10 years of experience in their related fields.ACCOUNTS DEPARTEMENT The financial information of a business is communicated through this department. As we know that â€Å"Accounting is an art of interpreting, measuring and communicating the result of economic activities† this department is concerned with the preparation of financial statements preparing budgets for business and allocating budget to different units according to their requirement. For daily expenses or for purchasing of goods or machinery for business. Accounts department prepares financial statements on quarterly, half yearly and annually basis.On the basis of these statements management takes necessary deci sions for business. Stakeholders can also get information about the financial position of the organization. Accounts manager handle whole department different accountant and assistants work under account manager. Units send all documents on daily basis to head office and on basis of these accountants prepare financial statements for purchases, payments, expenses, receipts and others. Functions of Accounts * Maintain record of assets of business * Recording transactions in books of accounts * Preparing financial statement Preparing ledger, journal and vouchers * To pay salaries, wages and different types of expenses to mills * Prepares financial statements on quarterly. Semi annually and annually basis FINANCE DEPARTMENT Finance department is concerned with the financial activities of the organization. Finance manage is responsible for the acquisition of finance for running operations of business smoothly. Finance manager prepares cash flow statements to estimate the financial needs in the business and to check whether the expenses are incurring according to the requirement of business.Finance is life blood of a business so it is very important department which handles financial activities of an organization. Accounts manager provides bank statements to finance manager and finance manager review those statements and then take decision which unit need to be finance and they are responsible for planning finance from where to acquire and where to invest. All the departments in organization depend on finance without finance department organization is unable to run smoothly. Functions of Finance Department * Planning Funds * Procurement of funds * Finding sources of funds Forecasting of financial for future * Effective utilization of funds * Negotiating with creditors * Allocation of funds to different units * Provide funds as they require Allocation of budget to units Allocation of expenses to units Make decisions of payrolls Proper review of expenses of units RATI O ANALYSIS For the analysis of the financial statements of the GULISTAN GROUP OF COMPANIES we use the ratio analysis in order to get a clear vision about the financial position with simple interpretation. For this purpose we can analyze the financial statements through the followings ratios: 1.Liquidity Ratios 2. Activity Ratios 3. Debt Ratios 4. Profitability Ratios 5. Marketability Rations/Efficiency Liquidity Ratios The liquidity of a business firm is measured by its ability to satisfy its short-term obligations as they come due. Liquidity refers to the solvency of the firm’s overall financial position the ease with which it can pay its bills. Basic measures of liquidity are: * Current ratio * Quick ratio By putting the values taken from the annual report of â€Å"GULISTAN GROUP OF COMPANIES† in the formulas of above ratios the results are shown in the following table.Current Ratio = current asset / current liabilities Quick Ratio = current asset – inventory / current liabilities Ratios| 2011| 2010| 2009| Current Ratio| 5657592015 /5872231037= . 96| 4222471024 / 4221143753= 1. 00| 3,170,385,835 /3,125,424,959=1. 01| Quick Ratio| 5657592015-4098001926 /5872231037=. 27| 4222471024-2872063135 / 42211437531=. 32| 3,170,385,835-1891974316 /3,125,424,959=. 41| Current Ratio A current ratio of 2. 0 is occasionally cited as acceptable, but a value’s acceptability depends on the industry in which the firm operates. A current ratio of 1. would be considered acceptable for a utility but might be unacceptable for a manufacturing firm. The ratio in 2011 is below 1. 0 so it is not acceptable. Quick Ratio The quick ratio is similar to the current ratio except that it excludes inventory, which is generally the least liquid current asset. Quick ratio is an extended version of current ratio in which only very quick assets (which can be quickly liquidated) are considered. Quick ratio in 2011 is also low that shows excess of inventory in stock. Acti vity Ratios Activity ratios are used to measure the speed with which various accounts are converted into sales or cash.With regard to current accounts, measures of liquidity are generally inadequate Basic measures of activity are: * Inventory turnover * Total asset turnover * Average collection period * Average payment period. Inventory turnover = CGS / Inventory Avg. collection period = A/R / Avg. sale per day Avg. payment period = A/p / Avg. purchase per day Asset turnover = sale / total asset Ratios| 2011| 2010| 2009| Inventory Turnover| 4197948535/4098001926= 1. 02 Times| 4442886796/2872063135=1. 55 Times| 1983953867/1891974316=1. 05 Times| Avg. collection period| 1202179249/14370761. 5=83. 65 Days| 992689190/14190684. 10=69. 95 Days| 896133503/11757625=76. 22 Days| Avg. payment period| 507009956/11435996=44. 33 Days| 428978782/11833817= 36. 25 Days| 250638087/11932214=21 Days| Asset turnover| 5245328111/9277085948=. 57| 5179599697/7821978153=. 56| 4291532961/6639205671=. 65| In terpretation of the Results Inventory Turnover Inventory turnover commonly measure the activity, or liquidity, of a firm’s inventory. Inventory turnover of the company is 1. 02 times in the year 2011 and it has decreased from the last year figure of 1. 55 times. Though here is a decrease in inventory turnover in 2011 but it is best in 2010 as compared to 2011 and 2009. Total Assets Turnover Total assets turnover indicates the efficiency with which the firm uses all its assets to generate sales. Generally, the higher a firm’s total asset turnover, the more efficiently its assets have been used. This measure is probably of greatest interest to management, because it indicates whether the firm’s operations have been financially efficient. Asset turnover in 2009 is high that shows efficient use of assets but it decreased in 2010 and have minor increase in 2011 which is not enough.Thus it shows inefficiency of the management of the firm to use assets to generate reve nues. Average Collection Period Average collection period indicates that how many days are required to collect amount from the trade debts. The earlier the cash is received from the debtors; the better will be for the company. Average collection period of the company has decreased in 2010 as compared to 2009 but it has a great increase in 2011 This shows inefficiency in the collection of Accounts receivable Average Payment PeriodAverage payment period indicates that after how many days the payment to creditors is made. This time period should be maximum one. But Avg. Collection period for GTM shows gradually an increase in these years that shows efficiency of management to best utilize of resources. Debt Ratios The debt position of a firm indicates the amount of other people’s money being used in attempting to generate profits. In general, the financial analyst is most concerned with long-term benefits, because these commit the firm to paying interest over the long run as wel l as eventually repaying the principally borrowed.Because the creditors’ claims must be satisfied before, the distribution of earnings to share holders. Basic measures of debt are: * Debt ratio * Time interest earned ratio Debt Ratio = Total Liabilities / Total Assets Time Interest Earned Ratio = EBIT / Interest Ratios | 2011| 2010| 2009| Debt Ratio | =6031027175/9277085948=65%| 4366370736/7821978153=56%| 3220598874/6639205671=49%| Time Interest Earned Ratio| 860296219/832459296=1. 03| 660050601/535671023=1. 23| 459782158/401355131=1. 4| Interpretation of the Results Debt Ratio The debt ratio measures the proportion of total assets financed by the firm’s creditors. The higher this ratio, the greater the amount of other people’s money being used in an attempt to generate profits. GTM’s debt ratio has increased from year to year. This shows that the company has increased its dependence on the outsider’s sources of finances. This ratio is high than t he acceptable limit of 60%. This shows that there is a significant increase in the debts of the company. Interest Coverage RatioInterest coverage ration tells that how many times the firm is able to pay its financial charges out of its profit . A high ratio is desirable. This ratio for the company is 1. 03 times in the year 2011 and has decreased from 1. 23 times in the year 2010. This shows good sign for the company. But in 2010 it is increased so it is bad sign for company but it seems to be controlled by management in 2011. Profitability Ratios There are many measures of profitability. Each related the return of the firm to its sales, assets, equity, or share value.As a group, these measures allow the analyst to evaluate the firm’s earnings with respect to a given level of sales a certain level of assets, the owners’ investment, or share value. Without profit, a firm could not attract outside capital. Basic measures of profitability are: * Gross profit margin * Oper ating profit margin * Net profit margin * Return on total assets * Earnings per share GP Margin = GP / Sale OP Margin = OP / Sale NP Margin = NP / Sale EPS = earnings available for common stock / number of common stock outstanding ROA = earnings available for common stock / Total AssetsROE = earnings available for common stock / Common stock equity Ratios| 2011| 2010 | 2009| GP Margin| 1047379576/5245328111=20%| 736712900/5179599697=14%| 569887350/4291532961=13%| OP Margin| 885608679/5245328111=17%| 587536742/5179599697=11%| 431199214/4291532961=10%| NP Margin| 1582297/52453281118=3%| 52791520/5179599697=1%| 50720861/4291532961=1. 18%| EPS| 1582297/17258090=. 09| = 52791520/16054038=3. 06| 50720861/14594580=3. 48| ROA| 1582297/9277085948=. 017%| 52791520/7821978153=. 7%| 50720861/6639205671=. 76%| ROE| 1582297/172580900=. 92%| 52791520/16054038=3. 29%| 50720861/14594580=3. 48%| Interpretation of the Results Gross Profit Margin The gross profit margin measures the percentage of each sales dollar remaining after the firm has paid for its goods. The higher the gross profit margin, the better and the lower the relative cost of merchandise sold. Gross profit margin of the company has increased in the year 2011 as compared to last year; this increase is due to decreased cost of goods sold. Operating Profit MarginThe operating profit margin measures the percentage of each sales dollar remaining after all costs and expenses other than interest and taxes are deducted. It represents the pure profits earned on each sales dollar. A high operating profit margin is preferred. Operating profit margin of the company has increased to 2011 as compared to the year 2010 ; 2009 gradually. This has increased due to decreased selling and administrative expenses. Net Profit Margin The net profit margin measures the percentage of each sales dollar remaining after all costs and expenses, including interest and taxes, have been deducted.The higher the firm’s net profit margin wil l be better. The net profit margin is commonly cited measure of the firm’s success with respect to earnings. Net profit margin of the company has increased to in the year 2011 against 2009 ; in the year 2010. Return On Equity Return on shareholders’ investment (ROI) measures the overall effectiveness of management in generating profits with its available assets. The higher the firm’s return on investment, the better. For the year 2011 it is . 92%, which is very low than that of 2010 3. 29% and 3. 8 in 2009 which is better from all of these current year. So it is a negative sign for the company. Return On Total Assets Return on Total asset of the company has decreased in the year 2011 from in the year 2010 ; 2009 it shows inefficiency of the company management to generate profit on the total assets. There is no best utilization of assets. Earnings per Share The firm’s earnings per share (EPS) are generally of interest to present or prospective stockholders and management. The earnings per share represent the number of dollars earned on behalf of each outstanding share of common stock.They are closely watched by the investing public and considered am important indicator of corporate success. Earnings per share of the company is decreased to . 03 per share in the year 2011 against 3. 06 in 2010 and 3. 48 in 2009 per share. It is due to decreased in profit level. So company adopts different steps to increase profit. Marketability Ratios Equity investor is more interested in the dividends of the company. It is also concerned about the profitability positing of the firm. For the purpose of equity investor we calculated the following ratios: * PER = Market rice per share / EPS * Book Value of Share = total common equity / number of common stock outstanding * Market Value of Share = market price per share of common stock outstanding / Book Value Ratios | 2011| 2010 | 2009| PER| 75 / . 09=833| 75 / 3. 06 = 24. 50| 75/(1. 63)=-46| Book Value| 172580900/4771715=36. 17| 160540380/ 4771715 = 33. 64| 145945800/14594580=10| Market Ratio| 75 / 10= 7. 5| 75 / 10 = 7. 5| 75/10=7. 5| Interpretation of the Results Price Earnings RatioPrice earnings ratio for GTM is increased in 2011 and in 2010 there is decrease in price earnings ratio of GTM so shareholder perceives it less risky to invest in GTM. Book Value Per Share Book value per share is good one if it is below the market price of its shares. Book value per share of the company is 10 per share, which shows investor’s confidence on the firm’s ability to generate profits Market Ratio Market ratio for GTM is same from 2011 and in 2010, 2009 so there is consistency in price earnings ratio of GTM so it is due to no change in book value per share. MIS DEPARTMENTThe MIS department is really strong in Gulistan. Company is equipped with AS400 Software which interconnects all departments. It collects the data from each server in every department and brings it to one serv er. If the manager needs any information he or she can obtain that data by just one click. This software can also generate reports regarding different accounts which eventually help management to take decisions. Strong and quick management information system is key competitive edge of Gulistan. Internal Audit Checklist * All managers utilize this facility to make decisions according to their concerned departments. They have appointed a HOD for MIS. * Data is always updated on daily basis. * Every manager has password and login through which he or she can access the system. * Training is essential for every manager so that he or she can get familiar to the system. * Company always tried to make it user friendly ; they succeeded in that. * Managers considered MIS a key thing or a company asset because it’s very valuable for providing them competitive edge. HR DEPARTMENT Gulistan has huge number of employees. It is necessary to manage a strong HR department and gulistan is doing it.The company’s people are their assets and it’s important for them that how they are developed, trained, and motivated. Gulistan is committed to diversity in a working environment where there is mutual trust and respect . Where everyone feels responsible for the performance and reputation of their company. They recruit, employ and promote employees on the sole basis of the qualifications and abilities needed for the work to be performed. They are committed to safe and healthy working conditions for all employees. They didn’t use any form of forced, compulsory or child labor.They are committed to working with employees to develop and enhance each individual skills and capabilities. They respect the dignity of the individual and the right of employees to freedom of association. They maintained good communications with employees through company based information and consultation procedures. There HR department is currently working on these basic lines:- * Manage ment by objectives * Hiring and retaining highly professional and talented people, who are dedicated, empowered and committed to deliver remarkable growth. * Skills development through internal and external training programs. Equal opportunity employment i. e. No discrimination in hiring, promotions, rewards and appraisals on the basis of sex, religion, caste, race or national origin. Following are the organization's main strengths:- * Good Governance And Policies * Team Work * Communication between Units * Healthy Resources * Product Quality * Low Workers Strength * ISO 9001 and IKO-TEX 100 Certified * Biggest composite unit in Pakistan * Highest credit rating by PACRA * Self owned power plant * Largest dyeing facility in South East Asia Following are the organization's weaknesses:- Organization is unable to offer its middle managers a good salary * Transit time is more as compare to foreign competitor * High employee’s turnover * High cost of production * Relying on interna tional market more than local market * Benefits offered to the general managers are good but the benefits offered to middle managers are not at all satisfactory * A weakness of the Gulistan Textile Mills Limited is the no direct relationships with the customer because they have to pay the 2. 50% of the sales to agents as commission. INTERNAL FACTOR EVALUATION (IFE) MATRIX KEY INTERNAL FACTORS| | Weight| Rate| Weighted Score| STRENGTHS| | | | ISO 9001 and IKO-TEX 100 Certified| 0. 11| 3| . 33| Biggest composite unit in Pakistan| . 10| 4| . 44| Highest credit rating by PACRA| 0. 13| 4| . 52| Self owned power plant| . 15| 4| . 60| Largest dyeing facility in South East Asia| . 12| 4| . 48| Weaknesses| | | | Relying on international market more than local market| . 10| 2| . 20| High cost of production| . 12| 2| . 24| High employee’s turnover| . 06| 2| . 12| Transit time is more as compare to foreign competitor| . 11| 1. | . 11| Total| 1. 00| | 3. 00| INTERPRETATIONS: IFE score ofà ‚  3. 0  indicating that the Gulistan Textile Mills  is an internally strong organization, it  represent that it is excellent in its overall internal strategies when it come to explore strengths and weaknesses. Overall the main  strength  is financial. SWOT Matrix | STRENGTHS| WEAKNESSES| | 1. ISO 9001 certified ; IKO-TEX 100 Certified. 2. Biggest composite unit in Pakistan 3. Highest credit rating by PACRA 4. Self owned power plant 5. Largest dyeing facility in south east Asia| 1. Relying on international market only 2. High cost of production 3. High employees turnover 4.Transit time is more as compare to foreign competitor| OPPORTUNITIES| S-O STRATEGIES| W-O STRATEGIES| 1. WTO regime implementation 2. Cost reduction technology by using modern and advanced technology 3. Local market development 4. Diversification in energy sector (Subject to Government permission)| 1. provide electricity to residential areas ( S4, O4)2. capture local market by providing facility of outso urcing and introducing company products through its retail outlets (S2, S5, O3)| 1. Import modern technology (W1, W2, O2)2. Company can enter in new market through retail outlets (W1, W4, O3)| THREATS| S-T STRATEGIES| W-T STRATEGIES| . Export of raw cotton and yarn 2. WTO regime implementation 3. Exchange rate fluctuations 4. Instable political and economical conditions 5. Government policies| 1. Penetration in foreign market (S1, T2)2. Make future contracts to avoid currency fluctuations (S3, T3)| 1. Focus on local market (W1, W2, W4, T2, T3)2. Import modern technology, and do agreements with suppliers to secure your supply of raw material (W2, T1)| INTERPRETATIONS: Critical Region is WO. Gulistan can import new technology to reduce its cost of production.Company can thus be able to penetrate in the market and capture more shares by improving quality of goods and services, and provision of goods at lower prices. LONG TERM NON FINANCIAL OBJECTIVES * To provide quality product to cus tomers to satisfy their need. * To achieve goals set by group. * To win competition in the market and to reach on peak of textile sector. * To use innovative technology that reduces human dependency. * To provide such an environment where employees do their work with honesty and satisfactorily. * To expand business around the boundaries of Pakistan and at international level. To use innovative machinery for its units. * To provide such a mechanism where employees are rewarded and encouraged toward their objectives. LONG TERM FINANCIAL OBJECTIVES * To achieve the turnover of Rs 29 billion. * Introduction of value added products. * Attaining bigger international market share. * Upgrading all the technological equipments to increase production. * To find Suppliers of the company in local market to increase local market share. * For better production make relations with cotton development and research institutes, local cotton producers and cotton whole sellers. Plant layout is important factor in production cost the company objective is to improve plant layout for cost reduction. Findings Interpretations Of EFE: EFE score of 2. 84 indicating that the Gulistan is taking the external opportunities and avoiding external threats quite well, however there is room for improvement is well. This score suggest Gulistan to be aggressive but the degree of aggressiveness needs to be little moderate, it should not go for diversification, rather it should go for penetration in the existing market, further developing local or foreign market or it may design a new roduct. Interpretations Of CPM: A Gulistan Mills limited is dominating in the industry as compared to local players. There are several competitors like Agzard 9, Kohinoor textile mills, etc, but above taken competitors are the major ones. CPM scores for Gulistan showing aggressiveness as compared to the crescent and Chenab textile mills. Gulistan is number one company within the local environment; it is basically leadin g the industry in the following aspects: * Product design. * Research ; development. * Persistence in product quality. Trained Manpower. Moreover, crescent textile mills is resides at the second number and leading industry in effective management style. Finally Chenab textile comes at number 3rd with leading position in persistence in quality and market segmentation. Interpretations Of IFE: IFE score of  3. 00  indicating that the Gulistan Textile Mills  is an internally strong organization, it  represent that it is excellent in its overall internal strategies when it come to explore strengths and weaknesses. Overall the main  strength  is financial. SPACE MATRIXFinancial Strength|   Rating|   Environmental Stability|   Ã‚  Rating| Leverage| 4| Rate of inflation| -3| net income| 6| Technological changes| -3| E. P. S| 5| Competitive pressure| -3| R. O. E| 5| Risk involve in business| -2| |   |   |   | Average| 5| Average| -2. 75| | | Y-Axis strength| 2. 25| Co mpetitive Advantage|   Rating|   Industry Strength|   Ã‚  Ã‚  Rating| Market share| -1| Growth potential| 5| product quality| -2| Financial stability| 3| customer loyalty| -3| Resource utilization| 3| Technological know how| -2| Profit potential| 2| |   |   |   | Average| -2| Average| 3. 5| | | X-Axis strength| 1. 25| INTERPRETATIONS: * For the purpose of evaluating financial strength we have compared our concerned co. with industrial average. * Leverage used by Gulistan was significantly low as compared to industrial average that why we have ranked it at point 4. * Net income of Gulistan was highest in industry that’s why it is given 6 points. * It’s E. P. S ; return on equity was also high as compare to industry that’s why they were ranked 5. * Market share of Gulistan was highest about 12% that why it is given -1 marks. There product is of good quality ; there customers are loyal but customers can’t be very loyal in this industry thatâ€⠄¢s why they were ranked at -2 ; -3. * They have new ; advanced technology that’s why they are ranked -2. * Rate of inflation is increasing its C. G. S ; technological changes its depreciation as well as there is heavy competitive pressure from china ; Bangladesh that’s why they were rankes-3. * There is high risk now a days in this business but due to being as industrial giant in Pakistan they are not in such a risk that why it is given -2. There is high growth potential in industry because now recovery period have been started. * Industry is less financial stable as well as most of the companies are producing very below then their capacity that’s why they are ranked at 3. * Due to increase in cost the profit potential has been declined that why this is ranked at 2. Directional vector point is 🙠 1. 25, 2. 25) Conservative Aggressive Competitive Defensive FS IS CA ES Interpretations: * According to our calculations the score of our company is 1. 25 on x- axis And 2. 25 on Y-axis * Which is showing that our co. hould go for aggressive strategy * Furthermore it is telling us that our financial strength is the dominating factor in industry * Our concerned strategies can be * Backward ,forward ,horizontal ,integrations * Market penetration * Market development * Product development * Diversification(related or unrelated) * On the other hand, Gulistan also has the opportunity to enter and capture the local market. Company can do this through opening retail outlets in the local areas and provide better goods and services to its domestic customers. THE BOSTON CONSULTING GROUP MATRIXMarket Share High Low StarsHigh Industrial Growth | Question Mark| Cash CowLow | Dogs| Interpretations: Gulistan is a composite textile unit of Gulitan Textile Group. Total number of players in the industry is 60, and Gulitan is the market leader. It captures 12% market share as a whole. In 2009, the industrial overall growth rate is 11%, but that of Gulitan Te xtiles is 24% as compare to the sales of 2008. The industrial growth is high and Gulistan Textiles has high market growth as well.So, it lies in the first quadrant (Stars) of the BCG matrix. It implies that, company has the opportunity to go for Market penetration to capture more shares in the existing market by using new technology, and increasing promotional activities. It also has a tremendous option of local market development. Other feasible strategies may be the backward integration to secure the supplies in order to tackle with the threat of exporting of local raw material to foreign markets. Also Gulistan Textiles goes for forward integration to minimize its weakness of transit time of goods and services to its customers.THE INTERNAL-EXTERNAL (IE) MATRIX A- IFE TOTAL SCORE B- C- Strong Moderate Low D- E- IGrow and Build| IIGrow and Build| IIIHold and Maintain| IVGrow and Build| VHold and Maintain| VIHarvest| VIIHold and Maintain| VIIIHarvest| IXDivest| High F- G- H- I- J- K- Medium L- EFE TOTAL SCORE M- N- O- P- Q- Low R- S- T- U- V- W- Interpretations: * IFE Total Score (As per IFE Matrix) = 3. 00 * EFE Total Score (As per EFE Matrix) = 2. 84 It implies that Gulistan Textiles is in a much strong position. But, comparatively it is stronger internally as compare to its external position.As per IE Matrix, Gulistan Textiles lies in fourth cell, which implies that it should go for aggressive strategies that is grow and build strategies. The possible strategies for Gulistan Textiles may be the integrations, intensive, and diversifications. Gulistan Textiles has the opportunity to go for Market penetration to capture more share in the existing market by using new technology, and increasing promotional activities. It also has a tremendous option of local market development. Other feasible strategies may be the backward integration to secure the upplies in order to tackle with the threat of exporting of local raw material to foreign markets. Also Gulistan Text iles goes for forward integration to minimize its weakness of transit time of goods and services to its customers. THE GRAND STRATEGY MATRIX Rapid Market Growth Quadrant II| Quadrant I | Quadrant III| Quadrant IV| Strong Competitive Advantege Weak Competitive Advantage Slow Market Growth Interpretations: Total number of players in the industry is 60, and Gulistan Textiles is the market leader. It captures 12% market share as a whole.In 2009, the industrial overall growth rate is 11%, but that of Gulistan Textiles is 24% as compare to the sales of 2008. As the market growth is high, and Gulistan Textiles has strong comparative position in the market. So, it lies in the first quadrant of Grand strategy matrix, which implies that it should go for aggressive strategies. The possible strategies for Gulistan Textiles may be Market Development, Market Penetration, Backward and Forward Integrations. THE QUANTITATIVE STRATEGIC PLANNING MATRIX (QSPM) | Strategy 1LOCAL MARKET DEVELOPMENT| Stra tegy 2PENETRATING IN FOREIGNMARKET| KEY INTERNAL FACTORS| Weight| AS| TAS| AS| TAS| STRENGTHS  | ISO 9001and IKO-TEX 100 Certified. | 0. 10| 1| 0. 10| 3| 0. 30| Biggest Composite Unit in Pakistan. | 0. 11| 4| 0. 44| 2| 0. 22| Capacity utilization. | 0. 13| 3| 0. 39| 2| 0. 26| Self-Owned Power Plant. | 0. 14| 2| 0. 28| 3| 0. 42| Largest Dyeing Facility in South East Asia. | 0. 12| 2| 0. 24| 1| 0. 12| WEAKNESSES| Relying on international markets only. | 0. 10| 4| 0. 40| 2| 0. 20| High Cost of Production. | 0. 12| 3| 0. 36| 4| 0. 48| Market Segmentation. | 0. 07| 3| 0. 21| 1| 0. 07| Transit time is more as Compared to Foreign Competitors. 0. 11| 2| 0. 22| 1| 0. 11| SUBTOTAL| 1. 00| | 2. 64| | 2. 18| | Strategy 1LOCAL MARKET DEVELOPMENT| Strategy 2PENETRATING IN FOREIGN MARKET| KEY INTERNAL FACTORS| Weight| AS| TAS| AS| TAS| OPPORTUNITIES  | WTO regime Implementation. | 0. 12| 1| 0. 12| 4| 0. 48| Cost reduction through introducing modern technology. | 0. 13| 2| 0. 26| 4| 0. 52| Loca l market development. | 0. 11| 3| 0. 33| 1| 0. 11| Entering in Energy Sector. | 0. 11| -| -| -| -| THREATS| Export of raw cotton and yarn. | 0. 12| 3| 0. 36| 2| 0. 24| WTO regime Implementation. | 0. 1| 1| 0. 10| 3| 0. 30| Exchange rate fluctuations. | 0. 09| 2| 0. 8| 1| 0. 09| Instable Political and Economic Conditions. | 0. 11| 3| 0. 33| 2| 0. 22| Government Policies. | 0. 11| 2| 0. 22| 3| 0. 33| SUBTOTAL| 1. 0| | 1. 90| | 2. 29| GRAND TOTAL | | | 4. 54| | 4. 47| Interpretations: * I. S. O certification will only be helpful in market penetration so that’s why it is given high marks. * Biggest composite unit ; less capacity utilization will be helpful or will be used better by open chain store rather than market penetration so it is given higher marks. * Increasing sales in foreign will better use energy rather than chain store so it is given higher marks. Largest dying facility has its goodwill so we have ranked it higher in chain store. * Reliance on international market c an be decreased by opening chain store that’s why it is given higher marks. * Higher cost of production can be decreased by exporting more quantity but opening new store will increase an expense for that’s why penetration is given higher marks. * Open chain store will increase our segmentation ; it will decrease on reliance on exports so problem of transit time will impact us less that are why these are given higher marks. * WTO regime will be useful only in penetration so it is given higher marks. Local market development will be done only in that case when we will go for chain store so it is given higher marks. * If we will open chain store we will be able to charge higher prices due to our goodwill so yarn’s export problem will not affect us as it is effecting. * WTO regime implementation will be covered only in that case when we will go for market penetration. * Exchange rate fluctuation will impact us only in that case when we will go for foreign trade so o pening retail store will reduce its impact that’s why it is given higher score. Due to bankruptcy of foreign customers the political ; economical conditions will have less impact on us if we will go for chain store that’s why it is given higher marks. * Government policies regarding opening a new store can be difficult to meet so it is given lower marks. Conclusion Future of the company Gulistan Textile Mills Limited is a growing firm and all its employees have a potential and skills to grow for the betterment of the company. Work environment is good and employees are satisfied with Gulistan Textile Mills Limited. There are not hard and fast rule in the accomplishment of the work.Gulistan Textile Mills Limited facilitates its employees with the lot of facilities like medical and other facilities. The job turnover ratio is gradually increasing due to the Economic crisis in Pakistan but employees are sincere with their work. Office area is established and safety measures are applied. Company is facing very tough competition from competitors particularly china, India, Bangladesh. The competitive positive position of  competitors is better because of their lower cost of doing business on account of various incentives and subsidies available to them.Recently government provided some relief to textile manufactures of value added product only in shape of lower interest rates. For increasing textile manufactures, Gulistan group of companies has no alternative but to improve the sale of its product in followings way. * Gulistan group of companies should improve the quality of its products. * Gulistan group of company should emphasis on value-added products and improve the quality. * The machinery of company should be improved by technology which increases the production of goods. * Gulistan group of companies should meet the requirements of consumers in term of fashion and design.Learning It was a marvelous experience that we have availed with devotion and commitment. We have an interest in textile industry that's because Textile is the back bone of the economy of the country. But one thing we want to share it’s not easy that looks it has a great toughness and complications in its process but the overall it was nice and great. We learnt that how strategies are formed, implemented & evaluated in textile sector. By doing analysis we have an idea that how to make and evaluate the strategies that are implemented in field.