None_provided Essays (284 words) - Stith, Job Interview, Free Essays

None_provided Essays (284 words) - Stith, Job Interview, Free Essays None_provided This book is an in-depth look at contemporary American popular music and the kind of musicianship that is appropriate to it. Stith attempts to explain dynamics of rock musicians by studying how the skills, ideas, and human identities associated with this population manage to be created and transmitted in the context of industrialized culture. In addition, he is trying to examine how musicians begin to take on and are characterized by that identity. Stith is interested with this phenomenon because these people were not successful or had not received a record contract, yet their identities remained intact. Stith gathered his data through six years of sporadic field study throughout Colorado, Illinois, Washington, California, Missouri, and southern France. He used both observational and interview methods in his study, however, it was participant observation that was used as a primary data-gathering technique. He presented himself as a musician and indicated in some form that he was interested in forming a group. At times he presented himself as a performer, other times as a role organizer, yet never hiding the fact that he was involved in social research. His secondary data-gathering technique was that he conducted several informal interviews with several members of these rock groups that he was associated with. These interviews were conducted during down-times, usually times where the group was hanging out, eating, traveling, etcetera. The size of the sample Stith studied and the ways in which the data-gathering techniques were administered differed from group to group, usually because his role within the population wasnt always constant. The interview questions that were asked were hardly ever uniform, they were administered differently to suit different individuals in specific situations.

High School vs College 15 Key Differences

High School vs College 15 Key Differences SAT / ACT Prep Online Guides and Tips Are you about to start college soon? Are you wondering what changes to expect? How is college different from high school?When you compare high school vs college, you’ll find many differences, some of which are obvious, others less so. It’s important to understand how high school and college are different from each other so you know what to expect and can have a smoother transition when you begin college.In this guide, we explain the 15 most important differences between high school and college and give you tips to help make this major life change a bit less intimidating. How Is College Different From High School? There’s a reason so many movies, shows, and books focus on new college students: many people see the transition from high school to college as one of the most important turning points in their life.You’re no longer a kid living under your parents’ roof; instead you’re an adult living on your own and expected to make real, important decisions about your future. You’ll have a lot more freedom, but a lot will also be expected from you, both in class and out. Read on to learn specific high school vs college differences. High School vs College: 15 Key Differences Below are 15 high school vs college differences you’ll likely encounter once you begin college. There are pros and cons to both high school and college, but knowing what to expect will make you better prepared for this big change. #1: You’ll Have More Independence The biggest change for high school vs. college is that, in college, you’ll have much more independence than you had in high school. Many people focus on the fact that you’ll be living away from your parents, and this is a part of it, but you’ll have independence in many other areas as well. You’ll have the freedom to decide what you want to major in, which classes you want to take, when you want to schedule those classes, if you want to go out with your friends, how late you want to stay out, even what you want to eat in the dining hall. (I ate Reese’s Puffs cereal every day for four years because my parents never allowed it and I was thrilled to finally be able to have it for breakfast.) #2: You’ll Be Treated Like an Adult Along with your increased independence, you’ll also be treated like an adult in college as opposed to a child under your parents’ care. In college, you’ll no longer need to bring your parents permission slips to sign, you’ll be trusted to make your own choices for what you want to study, and you can arrange meetings yourself, without Mom and Dad helping you. For many students, it’s exciting to finally be viewed as an adult, but it also means an increase in responsibilities. If you have a problem with or question about homework, classes, a grade you got, etc.,you are the one who will need to solve it. You can’t expect your parents to call the school and fix the problem for you like they may have done in high school. #3: There Will Be a Wider Variety of Classes to Choose From In high school, you didn’t have a lot of choice in regards to which classes you took. You could probably choose a few electives, but your schedule was mostly filled with the standard math, science, English, and social studies requirements that all students had to take. In college, even if you attend a smaller school, you’ll have many more options. They’ll be a wider variety of classes to choose from, and many of them will focus on more specific topics like astronomy, ancient Roman history, French literature, the geography of the United States, and more.Many college students like this increase in class options since it makes it easier for them to choose classes on topics they’re really interested in. #4: Classes Will Have Different Formats and Sizes Each class you took in high school probably had about the same number of students and consisted mostly of lecturing, maybe along with some individual or group work. This isn’t true in college.Classes can range from two to 500 students, and their format can vary widely as well. Classes may be completely lecture-based, require hands-on lab work, or be discussion-based where you spend most of class time engaged in conversations or debates with your classmates and professor. #5: Your Schedule Will Be More Complicated In high school, school started and ended the same time every day, and your class schedule was probably the same for every day of the week.In college, things get a little trickier. Some classes meet three times a week for an hour and a half, some meet five times a week for an hour, some meet once a week for three hours, etc.This means you’ll likely be starting and ending class at different times during the week, and you may end up with a different class schedule for every day of the week. Some people like the variety this gives them, but it’s important to stay on top of your schedule so you don’t wind up forgetting to attend class. #6: You’ll Have a New Set of Classmates One of the most jarring things for many new college students is they’re no longer surrounded by classmates and friends they’ve known for years. Instead, you’ll be in a sea of strangers (at least at first), many of whom come from different areas and backgrounds than you. Additionally, you'll likely have a different set of classmates for each of your classes. That's a lot of new faces! This means you have lots of opportunity for making all kinds of friends, but expect there to be some awkwardness and loneliness at first as everyone gets to know each other and figures out their friend groups.Additionally, since in college everyone wants to be there (at least on some level), you may find your college classmates more motivated and dedicated to doing well in school compared to some of your high school peers. #7: Classes Will Require More Critical Thinking Is college hard compared to high school? Going to college isn’t just like attending four more years of high school. This is a big step up in your education, and your classes will be more challenging and expect you to keep up.You’ll be tested less on memorization and basic regurgitation of facts and more on critical thinking skills and being able to apply what you learned in class to other situations. You may learn a specific math equation and then be asked to apply that knowledge to more challenging types of equations, learn about different historical events and be asked to analyze how they affected future events, learn a scientific process and be asked to describe how it affects the environment, etc. #8: College Costs More There’s no way around it; college definitely costs more than high school. Tuition is thousands of dollars, and you’ll likely be paying for room and board as well. And those are just the main costs. College requires all sorts of smaller purchases too, like special goggles for your chemistry lab or official test taking booklets for final exams. Buying just one college textbook (often over $100) is enough to never let you take for granted all free materials you got in high school. #9: You’ll Spend Less Time in Class Most full-time college students spend about 15-20 hours in class a week, which comes out to about three or four hours a day. This is probably much less time than you spent in high school classes every day which means you’ll have a lot more unscheduled time to spend how you think is best. #10: You’ll Have More Schoolwork Don’t get too excited about spending less time in class; college definitely knows how to keep you busy. The general rule of thumb is that you’ll spend about three hours a week on schoolwork for every one hour of class you’re in. With a standard schedule of 15 credits, that means you can expect to spend 45 hours a week on schoolwork, about as much as a full-time job!This is often much more work than students had in high school, so you should be prepared for an adjustment. #: Attendance Will Be Up to You In high school, you had to go to class every day because if you didn’t, you could get in trouble for truancy or (sometimes even more frightening) your parents could find out.In college, there are no requirements for attending class, and no one is going to call your parents if you don’t show up.However, don’t make the mistake some college students do and think this means you don’t need to go to class. Many professors include attendance as part of your grade, and some will even fail you if you miss a certain number of classes without a valid excuse. Plus, it’s often very difficult to do well in a class if you never show up, and you’re paying a lot of money for these classes! Make sure you get the most out of them that you can. #12: You’ll Have More Social Opportunities Even if you were a social butterfly in high school, you’ll have tons more opportunities to be social and make friends in college. There will be sports teams to join, parties to go to, clubs you can be part of, and more.Most colleges are large enough to have something for everyone, so you’re bound to find an activity you’re interested in, whether that’s a recreational hockey team, the student government group, a club focused on promoting renewable energy, and more. There are also likely many more students at your college than there were at your high school, so your opportunities for making friends will multiply as well. However, you do need to make an effort to get the most out of these opportunities. Push yourself to try new things and strike up conversations with new people, and if you're feeling nervous, just remember that they're likely feeling the same way. Standard questions to ask new people you meet in college include: Where are you from? What dorm do you live in? What are you majoring in? Get ready to ask and be asked these questions a lot! #13: It’ll Be Harder to Stand Out Once you start college, you won’t be a big fish in a small pond anymore, and it’ll be harder to stand out from the crowd.While in high school you may have been the star student/athlete/singer, in college you’ll be surrounded by many talented classmates, many of whom were also the best at something in high school.Some students struggle with no longer automatically standing out, but there are plenty of benefits to this. First, you’ll be able to bond with other students who are also skilled at your talent. If you were, say, the star drama student at your high school, you may not hold the same position in college, but you can befriend all the other high school drama stars and create some awesome shows together. Additionally, some students like the anonymity being a new college student brings. If you’ve been labelled as a jock or theater nerd for all of high school, going to collegewhere people don’t know youallows you to shed or alter that identity if you wish and try new things (or try the same things with less pressure). #14: You’ll Get Fewer Grades in Class In high school, you probably had daily homework assignments you had to complete and got a grade for. These, along with some larger projects, quizzes, and tests made up your final class grade. If you got a low score in one, it was usually fine since there were plenty of other chances to make up for the low grade. Once you start college, you may find that many classes have far fewer assignments, meaning you’ll receive fewer grades and each of those grades are worth more.Instead of regular homework assignments and quizzes, many college classes are based only on a midterm grade and a final grade. This means you need to take those exams/papers/projects very seriously because if you mess up on one of them it’ll be very hard to raise your class grade back to where you want it to be. #15: You’ll Be Doing Lots of Reading You know those pictures of exhausted-looking students sitting next to a pile of textbooks they need to get through? That’s how many college students feel.Expect to do lots of reading in college, including textbooks, journal articles, and literature.If you’re majoring in a field like computer science or math you can expect less reading (and more homework), but you’re still guaranteed to have at least a few classes where you’re assigned to read a couple dozen textbook pages before the next class. You’ll get to know your school’s library very well. Tips for Making the Transition From High School to College Going from high school to college can be tough no matter how excited you are to start at your new school. Below are three tips to help make the transition easier. Know There Will Be Changes You’ve already taken one of the most important steps to prepare for transitioning from high school to college: you’re expecting and preparing for the differences.When you know that the high school to college transition will bring major changes, you'll be more prepared for anything that comes your way. Be Prepared for Some Bumps Many movies about college make it seem like new college students immediately find a group of close friends, know exactly what they want to study, and have an awesome social life. In reality, it rarely works like this.Many new college students have moments where they feel awkward, lonely, and homesick. This is completely normal; after all you’re making a major life change. By managing your expectations of college and not expecting to love it right away, you can better manage the transition from high school to college and not end up disappointed when it takes a little while to feel comfortable. Put Yourself Out There When you first start college, there will be a lot of changes, and it’ll be easy to hang out in your dorm room and text with your high school friends. However, you should resist this urge. College is probably the best time you’ll ever have to meet new people and try new things, so you should take full advantage. Keep your dorm room door open to meet your neighbors. Strike up a conversation with your chemistry lab partner. Join a club or sport you’ve never tried before.Not only will this make the transition from high school to college easier since you’ll be meeting more people, you may discover a new friend or hobby. What's Next? Not sure which college you want to go to? Check out our guide on choosing the right college so you can make the best decision. Stressing over college applications? We're here to help! Our step-by-step guide breaks down the complete college application process from start to finish. Worried about choosing a major on your college applications? Learn how to navigate the process and make an informed decision. Want to improve your SAT score by 160 points or your ACT score by 4 points?We've written a guide for each test about the top 5 strategies you must be using to have a shot at improving your score. Download it for free now:

FIN CASE STUDY Example | Topics and Well Written Essays - 500 words

FIN - Case Study Example Other nations have invested heavily in China due to their best known expertise on electrical gadgets including motors. With the china transition, the growth and efficiency was associated with the rapid increase of the factors China had without associating the ownership institutional factors while the World Bank was able to use financial institutions in developing its strategy. 2. The Chinese people lost their investments during the Second World War shuttering down their dreams of developing globalization. Shiseido organization was able to establish businesses in countries outside china by expanding them to Europe and North America. The market conditions affected the business which was different from their normal conditions. The introduction of the foreign firms also led to the loss in the market share of China. Shiseido was quite clever by the fact that they built Auples, women cosmetic brands that boosted Chinese women. It later led to the construction of a larger network that increased the Chinese stores. 3. In my opinion, the regulations focus on the variables that lead to financial crisis in all the cases are unemployment and inflation. Other causes can be indebtedness with the various liabilities that are both private and foreign. There is also a crisis of currency that affects the banking in both the cases that leads to the introduction of the banking regulations. Most of the emerging countries have a vulnerability to the crisis that is caused by large liabilities that overflows the capital in question. On the other hand, the rules and regulations can be advantageous by changing the banking system that will generate more income and reduce the inflation and employment problems. With the economic contagion, there should be an introduction of more job careers with stable terms and conditions. This will enable the economies to reduce inflation. The government body should come in and impose revenue

Organisational Ethics in OPEN24 Essay Example | Topics and Well Written Essays - 1750 words

Organisational Ethics in OPEN24 - Essay Example For a company organization is a means to an end in order to achieve its goals. In this sense, organizations can be distinguished into two fundamentally different sets of objectives: The team of financial advisors is highly focused, trained up and very aggressive sellers, they concentrate on non walk-in customers and their objective is the selling of business loans. Increasing competition in the marketplace combined with rather draconian cultural internal problems such as bureaucracy, poor communication, and perceived lack of personal job advancement possibilities has led the employees to high levels of frustration many times in the past. 'All organisations begin with some sort of Vision, an initial spark which causes its creation. The organisation's Vision is essentially the dream which unites a core group of people and inspires them to try and make the dream a reality.' We can say that Open24 has a vision on what it wants to achieve in the near future. All employees work towards these visions and indeed if they work as group, then there is no reason as to why they should not achieve their organisational goals. Open24 organisation's pur...'All organisations begin with some sort of Vision, an initial spark which causes its creation. The organisation's Vision is essentially the dream which unites a core group of people and inspires them to try and make the dream a reality.' We can say that Open24 has a vision on what it wants to achieve in the near future. All employees work towards these visions and indeed if they work as group, then there is no reason as to why they should not achieve their organisational goals. (Ping, 1996)Â   Open24 organisation's purpose grew from their vision and in articulating its mission; they should have stated how it will seek to bring the vision to reality. 'It is stating what its 'Unique reason for being' is, and what the values are that will give meaning to its purpose.' (Ping, 1996) When it comes to organisational ethics, it is here in the mission statement that the seed is planted which gives rise to the 'shared set of beliefs' that will determine the organisation's climate of opinion. (Ping, 1996)Â   The main problems that the department faces and can prevent from the above mentioned plans are the following: Strict Management that creates employee dissatisfaction thus, high employee turnover ratio.Poor communication. Internal competition between OPEN 24 and the main net of Eurobank's branches. Â  

Advantages and Disadvantages of Internet in Business

Advantages and Disadvantages of Internet in Business 50 years ago people started using the Internet in the world. With the development of internet, there arisen many accessories by the internet. The Taobao website is one of the commonly used websites in China, Which plays a leading role in Chinese e-commerce industry. People buy products online through Taobao. The Taobao Company made significant profits in recent years. In this report, it is going to display the advantages of using the Internet in Taobaos business. in the first part. In this part, the report mention about the Taobao GDP contribution, new management mode build up and job opportunities provided. In the second part, the report illustrates that the disadvantage of using the Internet in Taobaos business, in this part of view, the report points out the time-wasting, risk in internet shopping and negative impacts of business efficiency. This essay aims to analyze the advantages and the disadvantages of using the internet in Taobaos business. The advantages of using the internet in Taobaos business The first advantage is the GDP contribution by Taobao internet business. According to the online auction statistic from Chinese Network Information Center (CNNIC) in 2006, there were totally 12.27 million internet users in Beijing, Shanghai and Guangzhou which are the top three cities in China. The data which included 3.3 million people who experienced the internet online transactions. It shows that there are huge internet-shopper populations in China, especially for the economic-booming cities. Taobao plays a leading role in e-commerce industry and gain plenty of loyalty customers, most of willing to introduce Taobao to their friends who attempt to go shopping in the internet. Under the large user volume, Taobao gives the reason why it can create GDP increasing. According to the data from 2008 China Online Shopping Report, Taobao occupied 67% of Chinese C2C market in 2005. Furthermore, in 2007, it owned 70.4% of online customers. Taobao could have more than 10 million RMB businesses only in one month. Taobao could bring more than 1 billion RMB to Chinese GDP. As the income, expenditure and output influence the GDP increase, thus, with Taobao development, more GDP increase could be bring. Nowadays, Taobao became an essential part of Chinese GDP increase. Taobao started Chinese internet shopping business model. Hoskins (2002) points out that the internet is absolutely cheaper than other traditional media. The internet market can cover the whole world customer. The internet business may generally replace the traditional businesses. Because Taobao belongs to e-commerce, the communication of the organization is not as same as those companies who operate in a specific space. In order to make communication sufficiently under business operation, Taobao is forced on the three main areas of management. First, Taobao create an online communication tool which is called Aliwangwang for Taobaos buyers and sellers. According to Trites (2008), Aliwangwang, which is ranked as the most satisfied service of Taobao, because the third party is unnecessary for the communications between sellers and buyers? Second, Taobao designed a new feedback system. Li el at. (2007) display that the sellers will give the feedbacks within a period of 14 days, the sellers reputation will be influenced by buyers feedbacks. If a seller got 10% dissatisfied feedback, the system will shut down the booth in two months. (Source: Research on Chinese C2C E-Business Institutional Trust Mechanism: Case Study on Taobao and Ebay.cn, 2007) In the figure 1 which displays above, it is clearly shows that the feedback mechanism in Taobao. All sellers in Taobao have to be evaluated by this feedback data, if any sellers more than 30% negative total negative feedback data, it means they could lost the chance to do business in Taobao. Third, the design of Taobaos website is attractive, the fashionable website design style always catch young peoples eyes, even a part of elder customers are willing to suffer Taobao because the website design style. Taobao divided products into different categories, such as men, women, baby, and electronic products. After click the guild link, the customer can find more details for the selling goods. It is easily and efficiently to find the products what they want. According to China Economic Analysis (2002), China has 7% unemployment rate almost reached the national unemployment rate warming level. Taobao provided job opportunities to the unemployment population. According to Li el at (2009), Taobao provided more than 600 thousands job opportunities. Among 570 thousand people enjoyed the employment chances provided by Taobao. Many sellers in Taobao traded their business as their careers and many of them had better lives depends on Taobao business. Under the stiff competition, there are a large of unemployment people with business vision but cannot find a job in top business companies. They use Taobao to fulfill their dream, some of them have their own clothes manufacturing factory after they started business in Taobao. For example, in 2009, the unemployment in Jiangsu Province located in the south of China has serious unemployment rate which shows 3.09 %. The data from the local government shows that Taobao offered 5.7 million job opportunitie s directly and more than 10 million job opportunities indirectly. Such as the development of Delivery Company, the needs of delivery employee must be increase.(Pan, 2001) The disadvantages of using the internet in Taobaos business Young people spend too much money on Taobao internet shopping. Because the selling prices in Taobao are cheaper than in the other places. According to Pan (2001), pricing has a significant influence for selling goods but with negative coefficient and absolute value. Because buyers cannot identify the goods visually, the high price goods are harder to sell. Beside, Majority of young people cannot afford the high price products which are sold in other shops. For this reason, they prefer to shop at Taobao. Moreover; many sellers on Taobao, who work as part-time, spend too much time on their business. When they concentrate on their Taobao business, their assignments form the company maybe delays. It is difficult to avoid the risks for the seller and buyer on Taobao. Kiang el at. (2009) discovers that the buyers have to accept the high risks for purchasing online. For this reason, this leads to a significant obstacle in internet commercial business. Credit card fraud problems, is caused by people who make business on the internet, are continuously increasing. Only after information flow, capital flow and logistics finished backflow, the business deal could be regarded as a completed transaction (Zhang, 2008). For the sellers risk, they have to responsible for some missing goods, even though the delivery companies compensate 50% of goods price. For customers risk, it is hard to post customers some electronic devices. Meanwhile, this kind of products is easy to be broken down. If the customers discovered the damage of the products, after they receive broken goods, they could not return the goods to the seller. The internet shopping makes the efficiency of Taobao decrease. According to Ray (2002), the organizational effectiveness has a significant influence on recruiting talented people and company development. According to Worthys (1962) organizational structure theory, there are two organization structural performances which are the flat organization structure and the tall organizational structure. Whatever the organization belongs to, the communication is always the important part of organizational development. Taobaos employees are separated in the whole of the world. The communication between employee and superior is difficult that the other companies. Even though when some problems arise, the employees can use the internet to communicate with Taobao headquarters. Because of the long distant, plenty problems cannot be solved immediately. Taobao have no too much hierarchical management level, but personally, it belongs to tall organization structure because the communication hard to tra nsmit to the top manager as fast as possible. For this reason, the organizational effectiveness could be influenced. The talented people could be affected by companys performance. Taobao could loss the technical support from those talent people. Conclusion This essay analyzes the advantages and the disadvantages of using the internet in business. The essay uses Taobao e-commerce website as an example. Based on the data from eight resources, the essay divides the whole article into two parts, the advantages of using internet in business and disadvantage of using internet in business. To analysis the reason why Taobao could rapidly increase in resent year and gain more market share. For positive influences, the first the report shows that Taobao is devoted to increase the Chinese GDP under large internet user number, and then the report analyze the new management mode running and management in Taobao. The last, decrease the unemployment rate in China be point out in the essay and how Taobao plays a key role in this social problems. In negative aspect, many people spend too much time and money on online shopping, because the young people do not how to balance their finance. Besides, internet business brings more risks between sellers and buyers, the report introduce the risk could arise in which aspect. Furthermore, internet business could influence the effectiveness of Taobao, the report analysis the reasons and explain the relationship between the talent people and organization efficiency.

Business Ethics and Corporate Social Responsibilty Essay

Business ethics and corporate social responsibility Introduction Anglo American is one of the world’s leading mining companies. It is a UK public limited company and operates on a global scale. Anglo American operates mainly in the primary sector of the world economy. This, as the name suggests, covers industries involved in the first stage of economic activity, such as mining and agriculture. Anglo American operates throughout the world. It has extensive operations in Africa, where 76% of its employees live. It is also a major employer in Europe. Its Tarmac aggregates and construction products business employs nearly 7,000 people in the UK. As a primary producer, Anglo American plays an important role in the world economy. Anglo American produces five main types of raw material.†¢ Business ethics †¢ Corporate social responsibility †¢ Effects of ethical behaviour †¢ Benefits of ethical behaviour Public limited company: a company whose shares are traded on the London Stock Exchange, denoted by the initials plc. Primary sector: the first stage in producing goods. Pressure group: an organisation formed by people with a common interest who get together to further that interest, for example, nongovernmental organisations. Ethics: moral principles or rules of conduct and behaviour accepted by members of society. Corporate social responsibility: the responsibility of an organisation to wider society, to a range of stakeholders including the community and society at large. Mining operations can have a big impact on the environment and on the societies where they work. Since most mineral resources belong to nation states, mining companies largely depend upon a licence to operate from governments. This allows them to extract and process minerals in return for investment and the payment of taxes and royalties. Increasingly it is also important to get the consent of local communities to mining development – a ‘social licence’ to operate. Like all businesses, mining companies are under increasing scrutiny from pressure groups as well as the general public. Anglo American seeks to adopt fair and sound business practice. The company believes that it has an important role to play in building the capabilities of the communities where it works. Issues such as combating corruption and promoting revenue transparency are high on the company’s business agenda. This case study shows how Anglo American seeks to make ethical choices in its business practice. What are business ethics? Business ethics are moral principles that guide the way a business behaves. The same principles that determine an individual’s actions also apply to business. Acting in an ethical way involves distinguishing between ‘right’ and ‘wrong’ and then making the ‘right’ choice. It is relatively easy to identify unethical business practices. For example, companies should not use child labour. They should not unlawfully use copyrighted materials and processes. They should not engage in bribery. However, it is not always easy to create similar hard-and-fast definitions of good ethical practice. A company must make a competitive return for its shareholders and treat its employees fairly. However a company also has wider responsibilities. It should minimise any harm to the environment and work in ways that do not damage the communities in which it operates. This is known as corporate social responsibility. ANGLO AMERICAN 25 www. thetimes100. co. uk The law is the key starting point for any business. Most leading businesses also have their own statement of Business Principles which set out their core values and standards. In Anglo American’s case, this is called ‘Good Citizenship’. A business should also follow relevant codes of practice that cover its sector. Many companies have created voluntary codes of practice that regulate practices in their industrial sector. These are often drawn up in consultation with governments, employees, local communities and other stakeholders. Anglo American has played an active part in initiatives such as the Extractive Industries Transparency Initiative, the United Nations Global Compact and the Global Reporting Initiative. GLOSSARY Code of practice: written guidelines governing business behaviour. This could take the form of a voluntary code or a legally enforced set of regulations. Universal Declaration of Human Rights: a declaration adopted by the United Nations General Assembly in 1948 outlining human rights that should apply to all people. Engagement: the process of involving others in the decision making process. Anglo American has also contributed to the Voluntary Principles on Security and Human Rights. This code sets out principles and practices for ensuring that a company’s need to ensure the security of its employees and operations in volatile countries does not adversely impact upon the local population. Thus the Principles provide guidance on how both private and public security forces assigned to protect a mining operation or an oil and gas facility should be vetted, trained in human rights, monitored and controlled. Anglo American also aims to ensure that it plays a role in protecting the human rights of its employees and local people in countries in which it operates. The company supports the principles set forth in the Universal Declaration of Human Rights. All companies need to make a profit. However, Anglo American recognises that this objective must take account of ethics as shown in its statement on corporate responsibility: ‘Though providing strong returns for our shareholders remains our prime objective, we do not believe that these can or should be achieved at the expense of social, environmental and moral considerations. Indeed a long-term business such as ours will only thrive if it also takes into account the needs of other stakeholders such as governments, employees, suppliers, communities and customers. ’ An important process used by Anglo American is that of stakeholder engagement. This enables it better to understand the perspectives and priorities of external groups that are affected by its activities and to factor them into its decision-making processes. To support this work at a local level, Anglo American has developed a Socio-Economic Assessment Toolbox or SEAT process. This ‘toolbox’ helps managers to measure the impact of activities on the company and communities. It also helps to improve a mine’s contribution to development through, for example, using its supply chain needs to generate new businesses or to improve the water or electricity infrastructure. They use this toolbox to engage with stakeholders including community representatives. 26 Sometimes communities have to be resettled, with government sanction, in order for important mineral deposits to be accessed. This can cause controversy and divisions in the communities concerned. International best practice sets out a number of key stages in such a process including the need for structured consultation, fair compensation and the importance of restoring and enhancing the livelihoods of people in their new locations. Recently Anglo American has had to undertake two such relocations in South Africa at the villages of Ga Pila and Motlhotlo. These were undertaken with the support of the provincial government and local tribal leadership and after consultation with local people lasting for several years leading to agreement with each householder. New villages have been built with better houses and infrastructure and more land for farming. The relocation programme was voluntary. The relocation programme at Motlhotlo is still under way but at Ga Pila 98% of those living in the old village took up the offer to move to the new village. www. thetimes100. co. uk GLOSSARY Empowerment giving responsibility for making decisions to lower levels within the organisation or community. Indigenous: naturally existing in a place or country rather than arriving from another place. Why should a business act ethically? Businesses have great potential to transform people’s lives and to alleviate poverty through generating economic growth. They produce goods and services that customers want and they create jobs. Through paying taxes, they contribute to government revenue that can finance schools, hospitals and other public services. However, a business must keep in tune with the wishes of the societies it serves or it runs the risk of alienating its shareholders, stakeholders and customers. This would be bad for business, reducing growth and potentially affecting profit. Anglo American has to deal with many different levels of interest when setting up a new project. This includes, for example, the owners of the land and the people and services in the area. The current South African government has a policy of transferring a share of the ownership, management and benefits of the country’s mining industry to people previously excluded from the economy. Anglo American is backing the South African government in this process. This includes supporting black economic empowerment deals (BEE). Through this process, Anglo American has sold (usually at a small discount) 26% of its assets in South Africa to BEE groups. For example, Anglo American was instrumental in the creation of Exxaro. This is now the largest black-owned and managed mining company listed on the Johannesburg Stock Exchange. It also aims to have at least 40% of its managers drawn from the ranks of previously disadvantaged ethnic groups. Governments in the developing world face many challenging social and economic problems. They need companies that are ready to be part of the solution. Anglo American believes that it can support governments in reducing poverty and inequality and in improving health and welfare. In South Africa, the company has been a major campaigner for AIDS education. It was the first major company in South Africa to announce that it would provide free anti-retroviral drugs to its HIV-positive employees. It now has the largest workplace HIV/AIDS education, voluntary testing and treatment programme in the world. After running the programme for five years studies have shown that the programme has become self-financing through reducing deaths and the attendant loss of skills and cutting absenteeism rates by boosting the health of infected workers. What are the effects of acting ethically? Most business activity incurs financial costs such as equipment and labour. Non-financial costs include noise and impact on the environment. There is a financial cost to acting ethically. To engage stakeholders takes time and money. Mining in ways that minimise environmental impacts is more expensive than extracting resources regardless of impact. An ethical business also recognises its responsibility for minimising the non-financial costs. The Pebble Project in Alaska is a good example of the way that Anglo American takes account of non-financial costs. This is a gold and copper mining project in the early stages of assessment. This could provide new jobs and revenues for the Alaskan economy at a time when oil and gas revenues have been falling. However, some people are concerned that the mine could damage fish stocks and wildlife. Therefore, Anglo American has been consulting widely and through a structured process with local people, politicians, businesses and especially indigenous people. 27 ANGLO AMERICAN Anglo American has made it clear that it will only seek to proceed with the project if it can be done without damage to the local fisheries. It will also give priority to the recruitment of local people. www. thetimes100. co. uk The benefits of ethical behaviour Anglo American establishes goals each year for sustainable development. These goals include: †¢ working without fatal accidents †¢ eliminating occupational diseases †¢ increasing diversity in the workplace †¢ increasing the benefits of mining for local communities †¢ increasing energy efficiency. By working towards these goals, Anglo American hopes to gain a competitive advantage. By demonstrating a more caring and sustainable approach, the company is able to differentiate itself from rival mining companies. It makes Anglo American more likely to be the partner of choice for many governments and communities in the developing world. It also helps with its position on the stock market. Most long-term investors, such as pension funds that run investments for millions of ordinary people in the UK, believe that it is important for a company to consider social and ethical issues and not just the financial bottom line if a business is to be sustainable. Anglo American sees shareholder returns and social and environmental responsibilities as complementary activities. This puts the company in a stronger position. All stakeholders benefit – shareholders, employees, governments, local communities and suppliers. GLOSSARY Sustainable development: development which meets present needs without compromising the ability of future generations to achieve their own needs and aspirations. Competitive advantage: a strategic element that enables an organisation to compete more effectively than its rivals. Governance: the process of making decisions and governing. Conclusion Anglo American is a multinational organisation with a high profile in the primary extractive sector. Because many new mineral deposits are to be found in developing countries, some of which have weak governance, Anglo American recognises that it must be rigorous in observing local laws, even if they are not always enforced. It has a significant role in supporting good governance initiatives and boosting the opportunities available to the communities associated with its mines. The company is involved in a range of initiatives to help these communities, such as AIDS testing and provision of new local services like schools and clinics. Its socio-economic assessment toolbox helps it measure its impact and engage with local communities to resolve issues and to underpin initiatives like small business development or partnerships with local farmers. The Times Newspaper Limited and  ©MBA Publishing Ltd 2008. Whilst every effort has been made to ensure accuracy of information, neither the publisher nor the client can be held responsible for errors of omission or commission. The financial and non-financial benefits to the company and shareholders are shown in several ways. Anglo American is trusted as a business partner that takes into account social and environmental issues. It has licence to operate in countries like South Africa, Brazil or Chile, where it is playing an important part in encouraging local business development. Questions 1. What are business ethics? Give two examples of business practices that stakeholders would regard as ethical and two that might be considered unethical. 2. The benefits of ethical business behaviour affect the business itself and the wider community. Taking an example of an Anglo American business project, identify the benefits to the local community and to the company’s shareholders. 3. How is Anglo American’s reputation enhanced by engaging with local communities in decision-making? Why is it important for this engagement to be an ongoing process? 4. Some business decisions involve a careful balance of social, economic and environmental considerations. Evaluate how Anglo American achieves that balance, using examples from the case study.

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