Code of Ethics Sm Investment Corporation - Free Essay Example

Sample details Pages: 3 Words: 936 Downloads: 1 Date added: 2017/09/14 Category Advertising Essay Did you like this example? Bulanday, Monica Patricia Camille A. 4MKTG02 Social Responsibility Prof. Stella A. Yanuaria August 31, 2010 SM INVESTMENTS CORPORATION Code of Ethics/Policies SMIC adopted a Code of Ethics on September 21, 2007 to re-affirm the companys commitment to the highest standards of ethics, good governance, competence and integrity in pursuing the companys mission and vision to serve the best interest of its customers, stakeholders and the country. The Code provides that the company strives to render adequate, reliable and efficient customer service at reasonable cost. The company also protects shareholders and investors interests, including their rights to a fair return of   investment and accurate and timely information. The Code mandates a fair and transparent process for the evaluation and selection of   suppliers of goods and services. It likewise requires an effective monitoring and control system to prevent fraud and other malpractices. The Code prohibits the solicitation or acceptance of gifts by any director, officer or   employee of the company from any business partner, except only for gifts of nominal value or those given for the companys charitable projects. Don’t waste time! Our writers will create an original "Code of Ethics Sm Investment Corporation" essay for you Create order It further prohibits conflict of interest,   insider trading, corruption and other illegal acts. The Company selects, develops and compensates the best people to manage the company. It   aims to provide its employees with adequate benefits as well as a safe workplace and environment. It also supports health, educational, social, livelihood and other charitable projects nationwide. Revised Code of Ethics In March 2009, SM Investments Corporation revised its Code of Ethics, which serves as a guiding principle for its directors, officers and employees in the performance of their duties and the conduct of their transactions with business partners. The Code reflects the Companys mission, vision and values statement. The salient provisions of the Code pertain to compliance and integrity, relationship with business partners, employee welfare, shareholder rights and protection of company information. Some of the important provisions of the Code are as follows: * All employees are required to immediately report to the management all suspected or actual fraudulent or dishonest acts. * Solicitation or acceptance of gifts in any form from any business partner is prohibited, except for gifts of nominal value. Any conflict of interest must be promptly disclosed to the management. * All employees are prohibited from disclosing vital business information, unless authorized by the company or required by law. * Insider trading is prohibited. The companys Human Resources and Corporate Governance departments are responsible for implementing and monitoring compliance with the Code. Violations of the Code are punishable by disciplinary action a nd/or the filing of appropriate civil and criminal action. Guidelines on Acceptance of Gifts To ensure integrity in procurement practices and the selection of the most appropriate   business partner in each instance, SMIC adopted guidelines on the acceptance of gifts by all directors, officers and employees from the companys business partners. Under this policy, all directors, officers and employees are prohibited from soliciting gifts in any form from any business partner. They are further prohibited from accepting gifts in any form, except for corporate give-aways, tokens or promotional items of nominal value. Insider Trading Policy To implement the prohibitions on insider trading in the Securities Regulation Code and to comply with best practices on corporate governance, SMIC also adopted a policy on insider trading. The policy prohibits directors, officers and employees of SM who know material and confidential information from buying or selling shares of stock of the listed SM companies. All information that is likely to affect the market price of SMs shares is deemed to be material. In line with the companys insider trading policy, all directors and senior officers are required to   Ã‚  Ã‚   disclose their transactions on the companys shares, in accordance with the provisions of the   Ã‚  Ã‚   Securities Regulation Code and other relevant issuances. Guidelines on Placement of Advertisements SMIC further issued a policy to prohibit the placement of advertisements in publications that solicit for such ad placement prior to the release of the official results of an awarding process conducted by the publication and where an SM company or executive is one of the nominees vying for the award/s. SM may consider placing advertisements in such publications as part of its over-all marketing strategy, but only after the release of the results of the awarding process and where it will not create reasonable doubt that such ad placement influenced in any way an award given to an SM company or executive. Guidelines on Travel Sponsored by Business Partners In August 2009, SMIC issued guidelines on travel sponsored by business partners. The guidelines prohibit travel sponsored by business partners, which refer to contractors, suppliers, banks and other entities engaged in business with SMIC. Where a business partner invites SMIC officers or employees to travel for the purpose of attending trade shows or exhibits, or for exposure to new products   and innovations, among other similar purposes, officers and employees are prohibited from accepting such sponsored travel. If the SMIC management deems that such travel is necessary for the business and for the development and training of officers and employees, SMIC will pay for the cost of the travel. The guidelines further prohibit all SMIC officers or employees from accepting any travel sponsored by any current or prospective business partner which is participating in any on-going bidding or selection process for any SM project or transaction. Anti Money Laundering Law Guidelines In May 2009, SMIC issued Anti Money Laundering Law guidelines for its property group. The guidelines lay down rules on acceptance of payment for real property projects and stresses the importance of know-your-client procedures. The guidelines are compliant with the provisions of the Anti-Money Laundering Law and its implementing rules and regulations.

Scene Analysis - The Big Lebowski - 1516 Words

GE3401 – TB2 Exploring English Cinema Scene Analysis â€Å"Scattering Donny’s Ashes† Scene in The Big Lebowski (Joel and Ethan Coen, 1998) Student Name: Fan Ho Nga, Gloria Student ID: 52948216 â€Å"Scattering Donny’s Ashes† Scene in The Big Lebowski (Joel and Ethan Coen, 1998) The Big Lebowski (1998) by the Coen Brothers is no doubt a comedy film about friendships between three bowling buddies with differing personalities who met and stuck together as friends by choice in Los Angeles when the U.S. army invaded the Middle East. The Coen Brothers managed to capture the spirit of friendship bonding, conflicts, characters’ internal struggles as well as personal desires with exceptional cinematography and mise-en-scene†¦show more content†¦In your wisdom, Lord, you took him. As you took so many bright flowering young men at Khe Sanh, at Langdok, at Hill 364! These young men gave their lives. And so did Donny. Donny, who loved bowling.’ The reason why the director placed this line in the eulogy is to show how Walter considered this an opportunity to a closure of years and years wasted in memories. The Coen Brothers put a vivid, living proof of Walter being stuck in the past on screen via his costume throughout the movie with his trademark safari vest, amber lens aviator sunglasses and the military dog tag that he always kept close in the film. Apart from the genuine friendship between the Dude, Walter and Donny, the eulogy dialogue also implies another layer of meaning from the movie concerning generation loss, changes and the cycle of life. Although the three main characters are bound together by bowling but Donny is the only one we ever do see bowl, in fact, we only seem to notice his existence at the bowling alley but his bowling results never did come to the Dude nor Walter’s notice. From the way how Donny let Walter call him names, swear at him and never really get to enjoy bowling’s fun, to Donny being scared to death with an heart attack caused by Nihilists attack or even after Donny’s death, when there is no family member but only Walter and the Dude to take care of his remains indicates a generation ignored and lost. In the eulogy scene, the director used an unusual composition thanShow MoreRelated Country Music in O Brother, Where Art Thou? Essay3561 Words   |  15 Pagescountry music. Whether it be through white trash country music narratives or the use of country music on film soundtracks to signify white trashness, it is undeniable that white trash has a special affinity with country music. For this reason my analysis of O Brother, Where Art Thou? (Joel and Ethan Coen, 2001) will demonstrate the way early forms of U.S. country music emphasise the white trashness of the film s characters. What exactly is white trash? U.S. cultural critics Annalee Newitz and

Porters Theory Free Essays

Overview of Porter’s theoretical perspective The theory of Porter is a study which works as a tradition that is related to the neo-classical economics with the nature of self adjusting nature of markets. The theory of Porter places innovation and industrialisation of geographic which is one of the number of theories for competitive advantages which aims at the process and development (O’Connell et al. , 1997). We will write a custom essay sample on Porters Theory or any similar topic only for you Order Now The industries which work within the nations are focused by the Porter’s theory. Competitive advantage is given by the home nation with certain characteristics and concentration of geographic and this process is enhanced by the rivalries. The systemic character of the Porter’s Diamond Model is shown in Figure 1 which outlines the components of it. Although, determinant of diamond theory interact each other but the systemic natures variable in diamond theory. The arguments on two elements are raised by the Porter which are – concentration of industry geographic and the domestic rivalry and these two elements has simply a great power to make a system by changing this diamond.It promotes the entire national diamond upgrading because of this domestic rivalry. The Porter theory translates it into system because of its magnifying principle of the interactions in the geographic concentration. The final stage of the Diamond Porter’s Model is the linkage between the industries and it promotes clustering to the systemic nature (Clancy et. al. , 1999). Figure 1: Porter’s Diamond Theory Competitive Advantage, Marketing and Porter: Any firm which achieve success is known as Competitive advantage which is not a domain of any of the single academic discipline in it.Thus through a review which reveals that marketing plays a central role in building up a competitive advantage. A number of popular approaches include: strong market positions with products and services are not easily substituted, entry- barriers, strong bargaining position, balanced portfolios; mobility barriers; core competencies, innovation and speed or time based competition (Eccles and Nohria, 1992). Here security in market positions, maintains the stable flow and enhance the emphasis of predominance. As per within the organisations, competitive advantages is first related to the marketing function. The work of Michael Porter exaggerated marketing as an extensive in order to address â€Å"competitive advantage. † Porter’s â€Å"five model† (Porter, 1985) provides the basis for structural analysis of industries in most texts (Baker, 1992; Bradley, 1995). The domain of macro- economists was aimed in such a way that was highly popularised by the Porter’s model, mainly the study of competitiveness. This shows that the study of firm advantage needs to take place in the context of a national environment. The name Diamond was tagged for four determinants (and 2 exogenous variables) which was conceptualised by the national environment.Thus, increasingly, marketing courses and texts incorporate the diamond as part of the analysis of industry (Baker, 1992). The important innovation in Porter’s work for business researchers across various sectors is a translation into a framework of ideas and concepts from different fields. The dynamic and evolutionary view represents the model as the creation of firm advantage depending upon a number of traditions; for example- the theory is based upon the resource and industrial organisational economics. Porter not only provides a point of reference for analysing the research but also a model for strategy research.Analysis with Porter’s Diamond Framework: The enabling environment providing the competitiveness only helps the firms to leverage its competitive advantage whose are supporting the activities of the firms. Porter’s Diamond theory reflected all these fundamental concepts in its model and in every question put by the Porter lies under the elements which are categories under four in his model. He considered that the company’s analysis should not be done by the approach of backward looking but should be considered by the view of looking forward.But this forward looking approach creates an idealistic scenario rather creating of an realistic approach. Although taking into consideration the future perspective, an assumption is being mounted by Porter, the Diamond Model functionality accommodates experiences of the past which indicates the flexibility. Thus, the model is created considering the perspective to be balanced which combines the past experiences with the future expectations. In the four elements of the analysis one more element Government – is added as this element plays a vital role in competitive environment nationally for the industry.Indian Shrimp Industry on Porter’s Framework: In the world of Shrimp productions India occupies top five positions. After china in the production of aquaculture it is the second largest producer of aquaculture. Contribution of aquaculture is 21. 56% by volume and by value its 49. 76% of overall seafood export production whereas by volume of farmed shrimps it contributes 76% and 83% by value of exports of shrimps (Rajitha et al. , 2006). The current exploitation for shrimp farming in India is only 16% which is out of 1. 2 million hectors are available for farming.In the country 90% of the shrimp farming are owned by the farmers of small and marginal levels. The black tiger shrimp is the major cultured spices (Penaeus Monodon). According to the research 58% of the total export values, in the export basket frozen shrimps is the largest items, of which the cultured shrimp shares above 80% (MPEDA, 2006). With the help of Diamond model of Porter’s the national competitive environment and the Indian shrimp industry van be assessed and is presented in Figure 1. i. Strategies of Firm, Rivalry and Structure:The farmers, exports and processors and the allied players are comprised under the Indian shrimp industry. 30 million is the capacity of production average in hatcheries of over 290 shrimp and 30 feed mills with a installed capacity of total annually of 250,000 metric tonnes. From a area of brackish water production of shrimp in India is 1, 43,000 metric tonne within a field of 140,000 hectares (MPEDA, 2006). In the mid 1980’s the production of shrimp farming started in India and there is a rapid growth of cultured farming of shrimp through 1990s (Kumar et al, 2004). Only 2. hectare area of water is own by the more than 90% of the aqua farmers. In the country farms below 5. 0 hectare of the total shrimp area farms occupies 65%. Among the 500 leading companies in India only 10 companies are involved in aquaculture. These 10 companies occupies 1898 hectare of land, of which shrimp farms contributes 758 hectares. The water spread in total is constituted just 0. 54% of this which is out of the 140,936 hectare in country is developed for culture of shrimps. On the front of the processor, there could be an either exporter only or the processor – cum – exporter. The Indian shrimp company has most marginal players except the large player handful. The Indian company of shrimps does not seen interested in foreign investors except Thailand. Except few of the companies like the ITC, Hindustan Liver Ltd etc. most of the companies are oriented family based. The growth which has evolved from the last few decades created this situation. The holdings on an Average basis are small and policy meyaking is fragmented and difficult to make implementations. ii. Factor Conditions:The entire coastal belt of India comprises of 369 freezing plants which are spread over these belts in which India has a v well developed infrastructure. The processing of fish is mainly from exports. India needs to develop its infrastructure for maintaining the quality for leading in the processing facilities. In India one can reduce the production cost easily because of the availability of the cheap labour for the shrimp which is one the amongst all the shrimp producing countries. The women workers are mostly more recruited in shrimp industries because of the dealt skilful hands of the women’s workers.Although these women’s are not professionally trained but learn how to do the work after bringing them into the factories. The two of the most important factors are rendered in a scenario of flexibility which are – support and labour and development support- which are required for the technology development and advancement of knowledge which are presented for good measure. iii. Demand Conditions: According to Porter (1990) one can be demanding if the buyers have an international outlook with the home base buyers.Their demands are really sophisticated and demanding. They need the product to be highly standardised and need to be full of quality. In India, these kind of businesses like exports and marine exports does not exist. These kinds of reasons are responsible for which India does not able to value chain move up. Customers export bulk quantities from India for shrimps and sold it to the other destinations after repackaging like USA, Europe and Japan. Retail packaging is different from export packaging in bulk. After Thailand, India is the econd largest shrimps exporter in the world but shrimps of India does not able to create its own brand like Thailand in the global markets. Therefore, the exporters get little exposures because of the less demanding market and hence cannot get the proper international exposure to compete in the international conditions. This lead to the opportunities to be limited and limited challenges in an international competition to understand. In this conditions, exporter just follow certain forms of rules for exports, starts losing the opportunities but learns new facets about international trade and tries to spread the business. v. Government Interventions: The support and government intervention to the shrimp industry generally comes majorly through Marine Products Export Development Authority (MPEDA) especially for exports, under the government under industries of India and Ministry of Commerce and so me of institutions of marine research. The policies related to export are recommended by MPEDA to the Commerce Ministry of the central government and the decisions foe the policies are taken by the MPEDA.In financial institutions this body acts like a liaison agency between prawn and shrimps stakeholders and farmer’s entrepreneurs and farmers etc. Conclusion: In the conclusion, it is clearly indicated that the government intervention plays a significant element for the study as Porter considered this element to be the choice of optimism. The developing countries generally face these kinds of scenarios. The concepts like international success, national environment and the competitiveness are the concepts who have references of several parameters.Although to understand these kinds of parameters, the theory of flexibility is useful but somehow Porter’s Diamond Theory also suggests about these parameters. The research showed data about the shrimp industry of India with their business environments. The importance of this essay limits only to the shrimp industry, preliminary understanding of competitiveness of shrimps to various export sectors of India. This competitiveness is in the context of environments to be taken nationally. The scope for the future research is based on the detailed empirical research in the context of diamond model analysis.References: 1. Baker, M. J. (1992), Marketing Strategy and Management, Macmillan, London. 2. Clancy, P. and Twomey, M. (1997), Clusters in Ireland: The Irish Popular Music Industry – An Application of Porter’s Cluster Analysis, NESC Research Series, Dublin, NESC. 3. Clancy, P. O’Malley, E. , O’Connell, L. and Van Egeraat, C. (1997), Clusters in Ireland: A Study of the Application of Porter’s Model of Competitive Advantage of Three Irish Sectors, Report for The National and Economic and Social Council, Dublin, NESC. 4. Eccles, R. and Nohria, N. 1992), Beyond the Hype: Rediscovering the Essence of Management, Harvard Business School Press, Boston, MA. 5. Bradley, F. (1995), International Marketing Strategy, Prentice-Hall, London. 6. Porter, M. E. (1985), Competitive Advantage, Free Press, New York, NY. 7. O’ Donnell, R. (1998), Post-Porter: Exploring Policy for the Irish Context, â€Å"Sustaining Competitive Advantage†, NESC Research Series, NESC, Dublin. 8. MPEDA (2006), Mission Document. Marine Products and Export Development Authority, Ministry of Commerce and Industry; Government of India. . Rajitha, K.. Mukherjee, C. K, and Vinu C, R. (2006),† Applications of remote sensing and GIS for sustainable management of shrimp culture in India†. Aqua Engineering. Vol. 36 No. 1, pp. 1-17. 10. Porter. M. E. (1990). â€Å"New Global Strategies for Competitive Advantage†. Planning Review: Vol. 18 No. 3, pp. 4 to14. 11. Kumar, A.. Motwani. J.. Douglas, C, and Das, N. (1999). â€Å"A Quality competitiveness index for benchmarking†, International Journal of Benchmarking and Quality Technology, Vol. 6 No. l . pp. 12- 21. How to cite Porters Theory, Papers

Ranking in Round-robin tournament free essay sample

Most common way to rank players or teams in round-robin tournament Round-robin tournament is widely applied in competitions which are able to be held for a long period and need a comprehensive ranking of the players or teams. In order to acquire the ordering of teams and player, the most convenient and common way is to rank the participants according to their total victories. Nevertheless, tie may appear in an individual competition of the whole tournament. Considering three possible outcomes of a match, different scores are rewarded for having a winning, tie and losing game. The method used in the well-known English professional football league, Premier League, can be taken as an example here. Premier League is constructed by the competitions between the 20 top football clubs in England, in which double round-robin tournament is used, implying each team competes with all other teams twice. Three, one and zero point will be rewarded for a win, tie and lose in each competition. We will write a custom essay sample on Ranking in Round-robin tournament or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page In the end of the league, a ranking list will be mainly arranged by the total scores of each team. Problems arisen by ranking with total scores Yet, this method may not be a perfect one when taking account of the outcome and fairness. Firstly, the total scores of the top two teams may be the same, showing that comparing only score is possibly inadequate to decide the champion. Secondly, the ranked ordering does not accurately reflect each team’s ability as a victory against a stronger team is more worthy than a win against a weaker team. (M. Stob,1985) Solution to the problem of tie in ranking To tackle the first problem, other criteria can be added into the arrangement of ranking by considering the nature of that sport itself. Referring to figure 1, the top two clubs have the same points but different ranking in the Premier League 2007/2008, because if there are same points between teams, the goal difference (Number of goal scored – Number of goal conceded) will be the second comparing factor, and the total goal scored will be the  third factor. Lastly, if there is really such a coincidence that two important teams are still with same point, an extra match between them will be launched to solve the ranking problem. (Deloitte LLP, 2012) Likewise, other types of competition can consider extra factors other than just counting total points to avoid same ranking of teams. Solution to the problem of fairness For the second problem, it is much more complicated to deal with it. Goddard (1983), who had a deep study in ranking players in round-robin tournament, has proposed the concept of upsets to reflect the fairness of a ranking system. Upset in an ordering refers to a team with lower ranking defeats another team with higher ranking according to that ordering. (M. Stob,1985) From the table, every row refers to the competition performance of each team. A team gets 1 point if it wins and 0 point if it loses. There are a total of two upsets in this ranking system, in which team 7 (weaker team) defeats team 1 (stronger team) and team 6 (weaker team) defeats team 2 (stronger team) are exactly the two upsets. Having figured out the measure of fairness, Goddard suggested a new ranking approach called p-connectivity matrix which takes the different importance of victory into account. It actually works like how Google calculating the importance of web pages. (Springer US. 2005) Firstly, it takes the ranking of comparing total points as the basic ranking. Then, every victory in the tournament should be weighted in accordance with the primary ranking of the losing team, in other words, winnings against teams with higher primary ranking have a higher weight. The second ranking can thus be constructed with weighted winning. Similarly, the third ranking is built by using weighed victory which is adjusted according the second ranking. This process then repeats many times, in which generates many different ranking and the one with minimum upsets should be chosen as the final ranking. (M. Stob, 1985) Nevertheless, neither the calculation process nor result of this ranking method is convinced to the teams and players. Even though the importance of different winning games is considered, players and teams may not be convinced to the fact that they get more victories but lower ranking than another team with less wins. Therefore, most of the round-robin tournament still adopt ranking without weighted victory. All in all, it is not easy to find the fairest ranking system. Even until now, there is not a so-called fairest ordering method.