Hershey's Sweet Mission Term Paper Example | Topics and Well Written Essays - 1000 words

Hershey's Sweet Mission - Term Paper Example This paper analyses the given case; Hershey’s Sweet Mission in terms of relevant human resource management theories. Recommendation for the redesign of Hershey’s performance management system to appeal to the diverse groups that it employs According to Lindbom (2007), â€Å"the foundation for effective performance management is the importance of including people development as part of the long-term strategic plan of an organization† (p.103). The contributions of the older employees are as important as the contributions of the younger employees. Hershey’s performance management system is giving more focus to the interests of younger employees. The case says that Hershey’s performance management system is appealing to the younger generations’ eagerness for challenge, autonomy, and results. At the same time, it says nothing about the contributions of baby boomers or old age employees. The contributions of young and elder employees are equally im portant for an organization. Hershey should realise this fact very well and should give more considerations to the contributions of the elder employees also. It should be noted that the fresh ideas brought by the younger employees need some fine-tuning from the experienced ones before its implementation. Knowledge management theory says that an organization’s performance is heavily dependent on the knowledge of its workforce. Experienced workers definitely have knowledge that is more practical even though fresh workers may have more theoretical knowledge. Both theory and practice are important for an organization like Hershey. So, Hershey should recognize the needs of the experienced workers as important as that of the fresh workers. Armstrong-Stassen and Templer (2005) argue that, although there are many training programs for older worker, it is important to take into account the experience of the older employees and redesign the training and the method accordingly (p.57). M odern organizations like Hershey often gives more emphasize to the needs of younger employees while formulating training programs. Moreover, these training programs often cater the needs of local employees. Since Hershey employs employees from different parts of the world, its training programs should give more focus to the needs of the diverse workforce. Lee (2005) stresses the importance of future-oriented performance management and evaluation system (p.53). Hershey should redefine its performance management system by giving more focus to future rather than present. How I would interpret the values that Hershey embraces in relation to my role, if I was a Hershey’s employee With regard to employees, Hershey’s mission statement says that the mission involves â€Å"winning with an aligned and empowered organization . . . while having fun.† Moreover, â€Å"Aligned† employees should share values, be clear about how their work contributes to the organizationà ¢â‚¬â„¢s mission, collaborate effectively, and be selected, equipped, and rewarded for meeting company objectives. If I was an employee in Hershey, I should work in accordance with the mission statement of Hershey. In other words, I should make sure that all the activities performed by me are in line with the vision and mission statement of Hershey. I should give more focus to the company objectives instead of my own personal preferences. For example, If Hershey asks me to

Biggest Obstacle to Business Sustainability Essay

Biggest Obstacle to Business Sustainability - Essay Example In other words, it ensures the efficiency and effectiveness of the supply chain. According to Werther and Chandler (2011), there are several CSR-related concepts that used to overcome communication barriers in a business. The Strategic Corporate Social Responsibility: Stakeholders, Globalization, and Sustainable Value Creation contain ideas that improve communication. Specifically, these include accountability (p. 305), business ethics (p. 336), stakeholder relations (p. 374), and environmental sustainability (p. 326). Others include compliance (p. 313), the use of the media (p. 344), religion (p. 365), and sustainable development (Werther and Chandler (2011, p. 326). Accountability requires honesty and transparency in the auditing process within an organization. The economists and accountants preparing the audit reports should embrace answerability as a crucial tool for linking up with the stakeholders. According to Werther and Chandler (2011), accountability enables external auditors to assess the organization and the managers. Consequently, this enhances the reliability of the reports conveyed to the stakeholders. Specifically, it minimizes the instances of doubts within the organization. Accountability ensures a proper flow of information between the managers and the employees. For this reason, it is the most critical virtue that promotes responsibility of the managers. In response, the supervisors pass all the relevant, reliable information to the employees and the customers. Business ethics refers to the mode of conduct within an organization. Professional ethos and values dictate the behavior of the workers and managers. The principles encompass the behavior and responsibilities of the organizational fraternity. Corporate integrities assist in reducing instances of communication breakdown in an organization (p. 335). According to the ethics, it is the role of

American History Research Paper Example | Topics and Well Written Essays - 750 words - 1

American History - Research Paper Example This research paper determines to answer to four various questions on American History topic. Firstly, the researcher focuses on the factors that led to the emergence of American middle class. It is stated in the research paper that the middle class comprised of farmers of the white origin, mechanics, and the country’s laborers. The continuous oppression and tactical exploitation of their skills led to the diminishing levels of their incomes. Then, the researcher discusses the quest of Indian removal. It is mentioned that Andrew Jackson observed the negative practices of the Indian tribes of Cherokee, Seminoles, Chickasaw, and the Creek to harbor fugitives as unconstitutional and against his personal will. Therefore, he called upon the military police officers to help eradicate the possible stronghold that the dissidents held. Thirdly, the researcher briefly discussed 3. the Oregon tress and stages of developing a frontier. When the American society discovered that importing l abor from the East Asia was cheaper, merchants took heed to aboard and sail the Asians the American society. This was referred to as obtrusion and the immigrants moved to Oregon and uprisings emerged since the Native American was not accommodating. The act resulted to deaths and loss of property but the government maintained little interest to the ongoing crisis. In conclusion, the researcher also discusses the topic of abolitionism of the American slave practices and the antislavery and the abolitionist movement.... Andrew Jackson further found it obstructing to suppress the five tribes, as their unity would subsequently lead to the emergence of revolts against the American government. Another hindrance was that the accord in which the tribes allowed America to acquire half of their land and develop it without any further threats of secession of the land. The removal affected the Native Americans negatively as the continuous aggression by Andrew eventually led to the forced migration and loss of land to the whites (Tucker, 2009). The Native Americans thus, were subjects to poverty following displacements, with the only choice remaining to be slaves and immigrants. 3. The Oregon tress and stages of developing a frontier When the American society discovered that importing labor from the East Asia was cheaper, merchants took heed to aboard and sail the Asians the American society. This was referred to as obtrusion and the immigrants often lived with animosity with the native and the white communiti es that had lost jobs. They moved to Oregon and uprisings emerged since the Native American was not accommodating (Behrman, 2005). The act resulted to deaths and loss of property but the government maintained little interest to the ongoing crisis. Towards half of the 19th century, the government retaliated to the ethnic aggressions, but this following the killings of white men along the Rouge River as it implicated on the seriousness of the issue. The government interest in the Oregon state was to acquire land for the white farmers while displacing the natives. This led to heated animosity as the native tribes continually aggressed and brutally massacred the aliens including the

Problem Solving Essay Example | Topics and Well Written Essays - 2000 words

Problem Solving - Essay Example This is because there is no definite solution to a problem as all solutions lead to development of new problems and solutions. Problem solving techniques are on-going processes needed for the survival of an organisation. Halpern (2002) explains that problem solving techniques should be able to find and formulate the problem that affects the progress of an organisation, implement a decision, audit the results obtained from the decision made and review the obtained results to determine if they are appropriate. More effort, energy, time and money should be spent on the prior stages of problem solving techniques rather than on the later stages. However, most executives ignore this fact as they aim at acting quickly and decisively thereby creating a type III error (working on the wrong problem) (Paradies & Unger, 2002). Therefore, this report will discuss problems that curb the development of organisations and appropriate problem solving techniques that are used to eliminate this paradigm. This report will also analyse features of these problem solving techniques and the issues faced while applying them to the problems. Most organisations especially new business enterprises are faced with strategic planning problems. Such organisations are unable to appropriately define the strategy and direction of their firms. They are unable to formulate efficient decisions in distribution of the organisational resources such as capital and labour, a fact that affects their capability to strive in the stiff market competition (Bradford & Duncan, 2000). Most researches, studies and surveys that have been conducted show that most successful organisations implement the SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis into the culture of the organisation to strategically plan for the operations, decision making and resource distribution tactics. According to Lorenzen (2006), SWOT analysis comprises of the identification of organisation's objectives to determine internal and external factors which may enable or prevent the achievement of these objectives. The SWOT analysis was formulated by Albert Humphrey with the aim of helping business ventures to effectively identify areas for development by matching the strengths of the organisations to available opportunities and the weaknesses to potential threats that the organisation may face. This enabled organisations to attain competitive advantages over their counterpart business enterprises. In other words the SWOT analysis enables organisations to detect the threats and weaknesses of the organisation and convert them to strengths and opportunities that the organisation can utilise to increase its performance. Also organisations are able to effectively overcome these threats and weaknesses thereby attaining appropriate market control due to implementation of strategic plans into the culture of the organisation (Tracy, 2000). The internal factors comprise of the strengths and weaknesses that determine the accomplishment of objectives of an organisation for example the 4Ps, manufacturing capabilities and personnel among others. On the other hand the external factors comprise of opportunities and threats that an organisation faces such as technological changes, socio-cultural changes and the competitive position of the

Bonds and Their Valuation Mini-Case Essay Example for Free

Bonds and Their Valuation Mini-Case Essay Sam Strother and Shawna Tibbs are vice-presidents of Mutual of Seattle Insurance Company and co-directors of the companys pension fund management division. A major new client, the Northwestern Municipal Alliance, has requested that Mutual of Seattle present an investment seminar to the mayors of the represented cities, and Strother and Tibbs, who will make the actual presentation, have asked you to help them by answering the following questions. Because the Boeing Company operates in one of the leagues cities, you are to work Boeing into the presentation. a.What are the key features of a bond? Answer: 1.Par or face value. We generally assume a $1,000 par value, but par can be anything, and often $5,000 or more is used. With registered bonds, which is what are issued today, if you bought $50,000 worth, that amount would appear on the certificate. 2.Coupon rate. The dollar coupon is the rent on the money borrowed, which is generally the par value of the bond. The coupon rate is the annual interest payment divided by the par value, and it is generally set at the value of r on the day the bond is issued. 3.Maturity. This is the number of years until the bond matures and the issuer must repay the loan (return the par value). 4.Issue date. This is the date the bonds were issued. 5.Default risk is inherent in all bonds except treasury bondswill the issuer have the cash to make the promised payments? Bonds are rated from AAA to D, and the lower the rating the riskier the bond, the higher its default risk premium, and, consequently, the higher its required rate of return.

Jean Piaget Essay Example for Free

Jean Piaget Essay My own beliefs about early childhood education are based upon the knowledge that childrens growth is developmental. It seems very clear to me that a high quality early childhood program must provide a safe and nurturing environment which promotes a broad spectrum of support for the childs physical, social, emotional, and cognitive development. I strongly agree with the tenets of the National Association for the Education of Young childrenthat high quality, developmentally appropriate programs should be available to all children (Bredekamp Rosegrant, 1992, p. 7). Children under the age of eight have enormous potential for growth and achievement, and it is my belief that they have rights to fulfill their possibilities. A separate statement of the NAEYC divides the concept of appropriateness into two aspectsage appropriateness and individual appropriateness (Bredekamp, 1987, p. 2). This statement coincides with my belief that children are unique individuals who may or may not reflect the usual characteristics of other children of their same age. Furthermore, I believe that a developmentally appropriate curriculum for young children is correctly tailored to the specifics of each age group. Different ages have different needs, interests, and developmental tasks, and the curriculum should reflect those variations. The most effective early childhood curriculum offers creative expression, social and emotional interaction, child-adult communication, child-child communication, physical expression, knowledge acquisition, reasoning practice, risk-taking, and personal autonomy. Early childhood learning happens through play. In this case, play is a serious matter, although it is quite fun to all involved. Children learn by doing and actively participating. When given the opportunity to explore, children flourish. They experiment, make choices, achieve strength and a sense of belonging as an effective individual within the context of a supportive, safe group. It is my belief that early childhood learning must happen in an integrated manner. Children of this age are too young for rigidly separated subject matter, and the skillful teacher of young children easily integrates the physical, emotional, social, creative, and cognitive areas of early learning. Role of Child as a Learner Johann Pestalozzi and Froebel, two of the earliest professionals in early childhood education, championed the development of the quality of early childhood theory and practice. Pestalozzi contended that young children learn most effectively by doing, by playing, and by interacting with the environmentthe physical world and other children (McCarthy Houston, 1980, p. 4). Early, effective learning happens best in a mixed age group, multi-cultural settings,  Froebel, like Pestalozzi, believed that play is of paramount importance in the development of the child, and that the emotional quality of the childs life (relationship with parents and other significant people) profoundly permeates the quality of the childs life (McCarthy Houston, 1980, p. 6). Pestalozzi did not particularly formalize his theories and methods, but he had a very good intuitive grasp of the necessity for language development, nurturing environments, and healthy relationships for children as a springboard for optimum learning. The child as a learner has cognitive needs, and these vary according to the age of the child. Piaget became famous for his work in the cognitive domain, and his guidelines of pre-operational thought to more sophisticated abstract thinking are useful for teachers who wish to be careful about not expecting too much from children who are operating at a lower cognitive level (DeVries Kohlberg, 1987, p. 54). His work was rather theoretical, and others (principally Kamii and DeVries) have expanded Piagets theory to widen its practical usefulness in early childhood classrooms. The young child learns from the motivation of a need to know, and most early learning takes place in the context of the home and relationship with parents and other family members. Lev Semenovich Vygotsky, one of the earliest workers in the area of developmental psychology and psychopathology, believed that childrens learning happens within the framework of the childs activities and is greatly influenced by the society and values of the persons near the child. The entire field of child development then consists of an endless stream of dialectical conflicts and resolutions, with the resolutions then internalized to form the childs increasingly sophisticated physical and psychological knowledge (Thomas, 1992, p. 322). John Deweys progressive education movement greatly affected thinking and practice for teachers desiring to arrange an appropriate environment for young learners. Dewey was one of the most influential educational philosophers in the United States in the early 1900s and his influence is still felt in the 1990s (McCarthy Houston, 1980, p.6). Dewey and other forward-thinking professionals of his time believed that learning should be based upon the childrens interests and that children should be actively involved in their education. Before Deweys time, most classroom activity consisted of teachers instructing passive, obedient listeners. Deweys work provided a solid philosophical basis for early childhood educators who desire to integrate subject matter into whatever the children are actively involved with at the moment. Dewey contended that any kind of life experience is valuable for learning. Dewey was humanistic in his orientation, and his work spoke to the importance of human interest, value, and dignity (McCarthy Houston, 1980, p. 8). Abraham Maslow was one of the first psychologists to emphasize the importance of various needs being met before other, higher needs come into focus. He placed the physical needs at the bottom of his needs hierarchy, followed by the need for love and belonging. Physically, children at young ages grow and change dramatically from year to year, and the alert, educated teacher will firmly grasp the necessity of a balanced program of large muscle activity, small muscle play, outdoor opportunities for expression of vigorous excess energy, and small motor expressive activity (Bredekamp, 1987, p. 56). Psychologically, children must feel safe before they are able to explore and learn. Children learn through social interaction with adults and other children, and their learning begins with awareness, moving through cycles of exploration, questioning, and application. Vygotsky viewed each childs learning in terms of that childs own ontogenetic development. Each experience of the child comes about as a result of the childs prior experiences of problem-solving and problem resolution (Thomas, 1992, p. 323). Mitchell, a student of John Dewey, also emphasized the necessity of learning within the context of the group. She believed that education for a democratic society begins at a very young age and she placed great importance on young children learning to cooperate and operate within a group (McCarthy Houston, 1980, p. 9). Carl Jung did a great deal of research and writing in the areas of variation of personality types, and his concepts lead us to believe that some individuals do their best work completely alone, even at a very young age. Carl Rogers also wrote about the importance of the individual contemplative experience. Like Maslow, Rogers as a humanistic psychologist believed in the importance of the human, individual aspect of learning. He saw learning as a change in self-organization. These learnings may be threatening and happen best in a psychologically safe, supportive environment (Rogers, 1969, p. 159). Although Rogers work primarily applied to the therapeutic counseling situation, it has great application to anyone dedicated to assisting others learn more about themselves. Role of the Teacher in the Learning Process Carl Rogers also had definite views on the nature of learning and the role of the teacher. He said that people learn by doing and by activities which involve the whole person (Rogers, 1969, p. 162). He contended that the most useful learning is the learning of the process of learning so that practical problems of living in a changing society may find successful solutions. According to Rogers and others who have followed similar philosophies, teachers are guides and facilitators. They set a creative, stimulating, supportive environment which enhances the childs natural curiosity about life around him. The astute early childhood educator provides a variety of activities, objects, events, materials and people which will assist the children in channelling their innate drive to learn. The best teachers are current in the understandings of fads and characters that appeal to young childrentelevision shows, favorite foods, clothing, and stories that are modern. Young children tune out adults who simply do not understand current culture. In this way, responsible teachers bring multicultural awareness into the classroom as well as information and materials relevant to their own ethnic background. Mixed classrooms provide an excellent opportunity to teach trust, respect, pride, appreciation of differences, and orderly group problem-solving (McCracken, 1993, p. 55). The teacher sets the tone for self acceptance and the acceptance of others. The effective early childhood teacher is an active learner, regardless of her own age, and this type of professional engages children in active participation with materials that are genuinely interesting to the children. This type of adult extends the childs learning with skillful questioning and acceptance of error through experimentation. The well-versed teacher understands the various levels of cognitive learning, Piagets theories, and Blooms Taxonomy so that children are guided and encouraged, but never forced into an intellectual level that is not appropriate. Responsible early childhood teachers respect the individual styles of the students at all times, as well as the various cultures from which they originate. The emotional tone in the best early childhood environments is one of warmth, high self-esteem, and safety. Creative expression is welcomed, even if the forms prove to be highly unusual. Mitchell advocated creative expression of the whole child, through conversation, art, music, dance, and story-telling (McCarthy Houston, 1980, p. 9). Cooperative learning and family involvement provide rich resources for respect among individuals and groups of a variety of different cultures. Skillful teachers in multicultural settings will recognize those values which must be basic (respect for the human body and rules for group interaction) and encourage the expression of the varieties and nuances specific to the individual ethnic group (McCracken, 1993, p. 65). Role of Peers in Learning The National Association for the Education of Young Children strongly advocates the guidance of social-emotional development in the classroom. Teachers have the responsibility for positive modeling, encouraging expected behavior, redirecting inappropriate actions, and setting clear limits. With this type of skilled teaching, children learn the social skills of cooperation, helping, negotiation, and verbal communication. In order for these important social skills to happen, teachers must depart from the traditional modes of instructing, placing children at individual desks, and spending a great deal of time as referee or punisher (Bredekamp, 1987, p. 55). CLASSROOM PRACTICES It is evident from the previous writing that effective teaching requires the logical, ethical translation of teaching philosophy into classroom implementation. Most importantly, all activities for young children must be developmentally appropriate to the age (Bredekamp Rosegrant, 1992). This is true across the board in every subject matter and in every aspect of the childs beingphysical, emotional, social, cognitive, and spiritual. SUMMARY/CONCLUSION In order to be an effective early childhood teacher, I must know my own philosophy, limitations, prejudices, and strengths. In general, I prefer five-year olds, and honestly, I am more comfortable with students of this age who are from my own cultural background. I lean philosophically towards the concepts of Pestalozzi and Froebel as well as the humanistic psychologists who followed in this country. Most of all I strive to provide age-appropriate materials and experiences for the children. References Bredekamp, S. (1987). Developmentally appropriate practice in early childhood programs serving children from birth through age 8. Washington, D. C. : NAEYC. Bredekamp, S. , Rosegrant, T. (Editors) (1992). Reaching potentials: Appropriate curriculum and assessment for young children, Volume 1. Washington, D. C. : NAEYC. DeVries, R. , Kohlberg, L. (1987). Constructivism early education: Overview and comparison with other programs: Washington, D. C. : NAEYC. McCarthy, M. , Houston, J. (1980). Fundamentals of early childhood education. Cambridge, Massachusetts: Winthrop Publishers. McCracken, J. B. (1993). Valuing diversity: The primary years. Washington, D. C. NAEYC. Rogers, C. (1969). Freedom to learn. Columbus, Ohio: Merrill. Thomas, R. M. (1992). Comparing theories of child development, Third Edition. Belmont, California: Wadsworth Publishing Company.

Strategic Company Overview of Wimm-Bill-Dann

Strategic Company Overview of Wimm-Bill-Dann The objectives of a business are to achieve growth, become profitable and to satisfy the customers needs. Many businesses have not optimally achieved this but Wimm-Bill-Dann has utilized their strategies in achieving a significant growth and this has been through mergers and acquisitions. Company overview Wimm-Bill-Dann is a Russian company that deals with dairy products, nectars, fruit juices and baby food. It is a market leader across the Russian territory with its bestsellers, J-7 juice and agusha baby food. Its market extends from Russia, former soviet republics and 10 other countries all with more than 280 million consumers. Wimm-Bill-Dann has 37 plants in Russia, Ukraine, Georgia and central Asia. The company mission is ensuring that families live a healthy life by enjoying the companys nutritious products each day throughout their entire lifespan. The company has several committees whose aim is to ensure that the companys objectives are achieved. These committees include audit committee, investment and strategic planning committee and personnel and compensation committee. The audit committees goals and objectives are to assist the board of directors in carrying their responsibility in matters concerning preparation of financial statements, ensuring that there is an effective internal control, ensuring liaising and working with internal auditors and keeping with the requirements of legislative and normative acts. The audit committee may meet once per quarter fiscal year. The investment and strategic planning committee assists the directors in approving and carrying out its responsibility concerning mergers and acquisitions, strategic planning and investment programs. The committee meets not less than once in each quarter of a fiscal year. The personnel and compensation committee assist in the selection of the board of directors and help in the formulation and implementing of uniform personnel policy in all of its branches, personnel appraisal, training policy, dismissal of employees, remuneration and compensation policy and corporate ethics. The company is committed to the principles of transparency and corporate governance that is excellent. The corporate governance strength include high level of shareholder arrangement transparency, commitment to the practice of good corporate governance and the statement of the corporate governance code, being open to the investors where high level of financial and operational transparency is maintained and the presence of an effective and efficient oversight mechanism for the internal and external audit process. Financial strategies The company has solid financial strategies which ensure that it maintains financial stability and growth as depicted by its results. One of the company strategies in raising finances to fund its ambitious objective of acquisitions is the placing of bonds. The recent placing of bonds by the company was on 15th march 2008 with Moscow inter-bank currency exchange and this attracted a large number of investors. This attraction of many investors shows the great trust investors have with the company. The company financial results show that it has been on the growth phase. The results are analysed quarterly from 3 months of 2007 to 3 months of 2008.This is shown in the table below. 3 Months of 2007 6months of 2007 9 months of 2007 Financial year 2007 3 months of 2008 Gross sales rose 40.1% year-on-year to US$542.8 million rose 40.5% year-on-year to US$1,142.8 million rose 40.4% year-on-year to US$1,758.3 million 38.4% growth to US$2,438.3 million rose 34.8% year-on-year to US$731.9 million Gross profit increased 53.3% with gross margins increasing to 32.0% from 29.3% increased 48.8% to US$377.8 million increased 43.4% to US$578.4 million increased 26.2% to US$219.5 million increased 26.2% to US$219.5 million Operating income income increased 73.1% to US$51.4 million rose 44.3% to US$108.4 million rose 30.2% to US$168.3 million rose 24.5% to US$214.0 million increased 23.2% to US$63.4 million net income increased 84.8% to US$32.1 million increased 40.8% to US$65.8 million rose 30.2% to US$168.3 million increased 29.0% to US$140.0 million EBTDA increased 58.8% to US$70.4 million, EBITDA margin1 increased to 13.0% from 11.4% increased 40.3% to US$147.2 million increased 30.9% to US$229.4 million increased 29.0% to US$90.7 million increased 29.0% to US$90.7 million Earning per Share grew to US$2.40 from US$1.50 grew to US$3.18 from US$2.17 increased 30.6% to US$41.9 million The company profit has been growing at a high rate and this shows that there is an increase in sales of the products of the company and hence the business has managed to achieve one of the objectives of becoming profitable. We also see that earning per share is on the increase and this proves that the capital base of the company is on an increasing trend and so the investors are reaping from their investment. Diversification and acquisition strategy of Wimm-Bill-Dann Diversification of products involves manufacture and the sale of different line of products. This is important in reducing risks in an organization as risks will be spread within different portfolios. In order to expand and get hold of its market, Wimm-Bill-Dann has effectively used the merger and acquisition strategy to expand its business. The company has different range of products from milk products, bottled water and different kind of juice which provide its customers with a wide choice of products to purchase. One of the greatest acquisitions by Wimm-Bill-Dann is the acquisition of 95% stake in Depsona ZAO which is a leading Tula based juice and concentrates plant worth 34 million USA dollars. After this acquisition, Wimm-Bill-Dann placed itself strategically as a major fruit juice and concentrate producer in central Russia. The acquisition has given Wimm-Bill-Dann a chance to access locally grown raw material hence minimizing production cost. Depsona products were under three brands which are Depsona, Fructopak and limbo. The factory is use to produce Wimm-Bill-Dann brands national brands and act as a distribution hub for them. On September 2006, Wimm-Bill-Dann Foods announced 100% acquisition of charter capital of Surgut city Dairy plant of Russia which was the largest milk processing plant in the region. The acquisition has enabled Wimm-Bill-Damm to be a leading company and to expand its market of Ural and Siberia. This acquisition has enabled the company to reduce the expenditure on logistics since there is reduced need for transporting products within different regions. Wimm-Bill-Dann now produces under its own brand at Surgut dairy. On September 2003, Will-Bill-Dann food announced the acquisition of an additional 47.7% of the equity capital of Ufamolagroprom hence increasing its total shareholding to 97%. Ufamolagroprom is the largest plant for the processing and production of dairy products in the republic of Bashkortostan. Originally the plant had a capacity of production of 240 tons of processed milk but now it has a capacity of 600 tons. The plant produce is sold under well-known Russian brands such as happy milk man, doctor Bifi and wonder. The brands distinct and attractive packaging gives it an upper hand in the market. In October 2007, Wimm-Bill-Dann acquired Georgian foods ltd which is based in Tbilisi, Georgia. This is in the companys strategy of growing its business by purchase of high performing companies with strong brand portfolio and having a large market size. Georgia food is one of the largest dairy producers in Georgia. This will enable the company to serve local demand of Georgia and supply the products to the adjacent market of Armenia and Azerbaijan. In September 2003, Wimm-Bill-Dann acquired Essentuki water production and bottling facilities. The company acquired OOOHealing spring which produces Essentuki brand mineral water and OOOGeyser, owner of Essentuki water wells. The transaction was worth 4 million US dollars. This resulted in the manufacturing facility of Wimm-Bill-Dann to be 24. Through this acquisition, the company has been able to provide its customer with highest quality goods as per its strategy in ensuring that the customer needs are satisfied. In 2006, Wimm-Bill-Dann announced the acquisition of Molka Company in Russias Irkutsk region, one of the largest companies that processes milk in eastern Siberia. The purchase of Molka allows Wimm-Bill-Dann to expand into the Siberian market. The companys presence in Irkutsk allows the company to reduce the expenditure incurred during the transportation of the products. Risk management strategy The company has several risks which it faces whilst in operation. Currency risk is one of the risks that the company faces as most of its sales are in Rubles, while bulk cost is in hard currency. Operational risks which occur when there is a disruption of raw material supply and increase in the price of raw milk. Competition risk is one of the biggest risk the company faces. The Russian economy is growing in two digit figure and due to this it has attracted the attention of both domestic and international competitors. International companies have offered the greatest challenge to the company because of their strong financial strength, they have well experienced, motivated and well learned human resource pool, strong management information system which include very modern management information system which is superior than those found in Wimm-Bill-Dann and marketing capability from these company that have a worldwide presence such as Coca-Cola company. There are several international companies which compete with WIMM-Bill-Dann, the top companies being Coca-Cola Company, Nestle and Danone. Coca cola is the largest soft drink company in the world. It owns four of the five world top brands which include Fanta, Coca-Cola, Sprite and Diet Coke. The company has worldwide recognition due to its high quality and uniformity in taste. It also has a very strong financial base and so it can easily expand to any territory in the world. Due to this, it has provided the greatest competition to soft drink segment of Wimm-Bill-Dann as most of the people have trust in its products. The company also has many franchise and high powered advertisements which are superior to wimm-bill-dann and hence offer a great competition. Nestle is the world largest food company in term of production and sales. It is also one of the largest bottled water makers, equipment for surgery and cosmetics. This company has a worldwide presence and its brands are highly respected around the world. The company has a strong financial background, good marketing strategies which provide it with a great opportunity to penetrate any market. This company has provided Wimm-Bill-Dann Company with big competition especially in the food manufacturing segment as it has penetrated Russian market Danone is one of the largest dairy food and water producers in the world. It is a world largest company producing cultured dairy products. This is the largest competitor to Wimm-Bill-Dann in the production of milk products as it has penetrated the Russian market. Human resource strategy The company has a well formulated human resources policy which ensures that the employees are highly motivated to ensure that they are productive. The company has formulated human resources strategy that is in line with those that directly deal with expanding through acquisition. The company has a policy which ensures that labour regulations are strictly followed and that all documents relating to labour law are maintained. The company ensures that the process of recruitment are fair and transparent in which there is no discrimination against sex ,age ,race or any prejudice against anyone. The company has a policy in which it ensures that employees are well compensated for their work and that they are offered good remuneration which will motivate them to perform well since people are an important entity in any organization. Staffing according to human resources strategy follows demand and supply of labour. The company has made several high level appointments recently. For example in Moscow may 12 2008,the company announced the appointment of Dmitry Ivanov as the chief financial officers who has 17 years of experience in financial field. Business strategy of Wimm-Bill-Dann The company has excellently utilized its business strategy in ensuring that it leads in the market in terms of business .Before merging, water business was run separately with its own finance and marketing departments, workforce and distribution network. Merging enabled the company to reduce the cost involved in administration, selling and distribution expenses. This will allow the company to enjoy the economies of scale in terms of transportation and distributorship. Also to reduce the overall cost, the dairy business was restructured so that all the transactions are directed from a central point where there is the overall management. In order to increase the output of milk, the company built a mega farm complex near St Petersberg. The farm has more than 1200 milking cows. Information system strategy The company has a modern information system strategy which ensures that work in the company is well organized and made easier. The company uses Oracle, a provider of enterprise software. This project covers all the key areas of the corporate activity which include marketing, finance, distribution, logistics and distribution at all of the companys enterprises in Russia. These processes assist in quick and effective management decision and ensure that they are successfully completed. New ERP system assists in the finance department especially in accounting reporting in both Russian standards and international standards. Marketing strategy The company has a well-developed market strategy which has enabled it to perform well in Russia. It has different brands and through this, it provides the consumer with a wide choice. Through vigorous advertisement, it has been able to capture the attention of many customers in Russia and other part of Russia. After acquisition of different companies, it has maintained the original brand names and packaging. This is important as it will maintain the old customer for the brands of the acquired company. Strategies that should be put to ensure that the company achieves further growth Marketing strategy Although the company has a solid marketing strategy but it has to put more effort in having access to the global market. It should put more effort in promotion of its products to other parts of the world that it has not accessed the market. It should explore potential market such as countries in Africa. The Company should borrow ideas from the strategies set by the Coca Cola Company. The company should also consider operating under franchise system in ensuring that its products are well distributed to the market. The company should increase the number and variety of products and through this, the company will provide its customer with a choice of products to choose from. The company should ensure that its branding and packaging are of high standard and should change with customers change in taste and fashion. The company should consider using marketing tools such as swot analysis in ensuring that it maintains its control of Russian market and as a mean to survive in an environment that has stiff competition. Information system strategy Although the company has an efficient management information system such as ERP accounting software, it should consider using more than one software when performing a given task. It should look for a way in which the systems are integrated. This is to ensure that efficiency is maintained and the work done is accurate. This will also ensure that fraud activities are minimized. Merger and acquisition strategy The company should maintain its strategy in merging and acquiring other companies. It should consider buying stakes in competing companies to reduce the effect of stiff competition from major multinational companies. For example it would be wise if they considered buying some stakes in the Coca Cola Company. Through this, it will borrow some ideas and skills concerning the businesses and hence improve on its performance. The company should acquire more companies in the markets in which it has not ventured. For example; it should buy companies in African countries such as those in South Africa. Human resources strategy It is people who make an organization to grow. To ensure that it has a rich pool of human resources, it should consider efficient training for workers to keep them updated on new skills so that the company can keep pace with other major multinational company in terms of human resources. The company should also increase the number of university fresh graduates who are undergoing management training. This is important in that it will gain new skills and different ideas from these graduates and this will assist the company in growth. Conclusion Will-Bill-Dann is a promising company with one of the best strategies. Its acquisition strategy has made the company to have good reputation and respect. Through its hardwork and well thought policies, the company is fast growing into one of the largest multinational companies. Through this, the company acts as a role model for other companies to emulate it.