Development of a measurement model for balance management Research Paper

Development of a measurement model for balance management - Research Paper Example They play an imperative role in motivating the goals of a development-oriented nation (Aaker 2001, p. 56). Additionally, there should be an integration of the tools through critical assessment of both qualitative and quantitative parameters as observed below. There are lots of fundamental links of culture, leadership and strategy in regards to the development of measurement. In other words, the aforementioned tools of development have direct ramifications on the aspects of balanced management especially in spurring the expansion of the economy. For instance, culture is an imperative objective when drafting plans for development oriented projects because it has a direct influence on people (Niven 2005, p. 124). On that account, a balanced scorecard is performance management tool of strategy that is in the form of a report. It is a semi-structured with support derived from design methods and other automation tools. For that matter, it functions in the tracking of duties and activities by workers to enable managers have a control in the actions of the organization. In other words, there is also a link on the context of personal refinement on the areas of education, lifestyle, ideals and national aspirations for future improvement. Therefore, this management tool has been key especially in the annual survey of performance-oriented firms such as Bain & Companies. Therefore, in terms of impacting on the development of the organization, it is crucial to note a few observations. For instance, a balanced scorecard inculcates the mixture of differing presentations that are both non-financial and financial. It has a direct correlation with development in the context of reforming the minds of the employees in balancing their income sheets. This suggests that factors such as traditional material culture of a society come in handy when defining the goals of development and the measurement success (Jacobson & Shepard 2008, p.156). Additionally, there are also other elements o f intangibles such as customs, language, dress code and even acquisition of technology that impacts directly on the balance scorecard on the management of a country. In contrast, culture also influences the strategies of development when stipulating the goals of a community through its leadership. In other words, there is a variable uniformity in the context of informational data imparted upon firms in influencing leading inputs such as physical and human processes. On the other hand, there is also the factor of culture gap strategy that entails a policy approach that affects development in several ways. For example, culture gap strategy plays a key role in affecting the operations of development measurement in the context of finding alternative solutions. Additionally, it brings harmony between the sociological context of the corporate firms and the concern of attaining the goal of a balance management. In other words, it is a grand folly in integrating the culture gap strategy in a society and its leadership in relation to the strategies stipulated. On that case, there is also an imperative need to evaluate the issues of development choices such as the GDP of a work group and inter-generational conflicts that affect the economy (MacKinnon 2012, p. 209). This suggests that cultural change should compliment with the development strategies set by the given leadership of the management in focusing for the future. Alternatively, cultural strategic gaps of development must also take into

Compare three companies Essay Example | Topics and Well Written Essays - 1250 words

Compare three companies - Essay Example This used to happen only with Sony and Apple products before. Samsung is not only one of the greatest businesses today, but the company tends to have a great goodwill as a responsible global entrepreneurship. The objective of this paper is to explore the tactics and strategies that were employed by Samsun to climb up and reach the top of the success ladder at such lightning speed. It is important to review the success story of Samsung before analyzing the strategies it has utilized for achieving the numero uno spot in corporate world. Samsung came into being in 1938, as a small trading company and transformed into a business group. And from its branch in Tokyo it started to expand its business first by entering in the textile business, then started establishing electronics, introduced the company in heavy industry by affiliating in shipbuilding. Samsung itself had built huge companies based on sugar and seasonings and textiles; and LG on chemicals for household and industrial consump tion (Michell, 13). It also expanded the business by acquiring Hankook Semiconductor. Later on it also introduced first 10 – million seller cell phones, became world’s best TV manufacturer. And today Samsung claims to have the largest share in the global smartphone market, which is because of the Galaxy smartphones of Samsung. In 2012 it was awarded as world’s ninth best brand (Tek, n.p). Samsung now stands among the top tier global corporations, possesses good ranking in the superior management, and provides innovation in design along with improving its sales and earnings (Lee, 9). The competition between the two famous smartphones brands Samsung and Apple started in 2008, when Samsung targeted the smartphone market by investing on large scale in it. Apple is a multinational company, which provides phones, personal computers, iPads, iPods and much more. In 2008, the most valuable company of the world was Apple because it had the shares with prices up to $ 373 ( Zylla-Woellner, n.p). Samsung and Apple without any doubt were leading the cellular especially the smartphone industry, however, Samsung suddenly shifted gear and turned the entire game in its favor. Apparently, Samsung’s most significant tactic is that the company never ceased to introduce variety in their products and in their strategies of selling the products too. Samsung Corporation has successfully blended speediness, imagination and affordability in their offerings to capture the consumers’ attention. While Samsung was busy investing huge sums on extensive research and development to gain the market share, Apple was stagnant using only 2.4 percent of its revenues on innovation (Roll 154). Samsung spent around US$ 2.3 billion on research and development (Roll, 154). The major competitors Sony and Apple were badly defeated by Samsung. The reason is that whenever these companies introduced a new product Samsung copied the concept and followed their path to introduc e similar product but with a definite edge and innovation from its predecessors. In order to learn latest designs in trend, Samsung even started comprehensive training sessions for all employees. Apple only introduced several versions of iPhone whereas in the meantime Samsung not only introduced Samsung galaxy, note book, smart TV and other economical smart phones but has been regularly updating its products’

Economy of Pakistan Essay Example | Topics and Well Written Essays - 1750 words

Economy of Pakistan - Essay Example Country also faces the problems of illiteracy, and charges of Fiscal ineptitude. But despite such decelerating factors, Pakistan is on the path of growth with the new government of President Musharraf continuing with a reformist economic agenda, assisted by support from multilateral institutions. Pakistan's economic performance appears to be improving gradually. A thaw in the relations with India is also helping the country in economic progress. In the 2007 country profile Country-Watch points out that Pakistan is a developing nation with agriculture accounting for about 25 percent of its GDP, employing about 45 percent of the people (101). In recent years agriculture is declining as a percentage of total output with other economic activities picking up as well, but still agriculture sector remains the primary economic activity in Pakistan. A high annual population growth rate of two percent not matched with equal rise in opportunities and resources for the country, is also proving t o be a big drain on its economy. Growth of economy and business prospects in a country depend mainly on., macroeconomic factors, political stability, economic liberalization, human resource development index and levels of corruption in the country. A stable business environment requires normalization of the fiscal position, with an increased tax base and a more transparent allocation of resources. A stable government helps in infusing confidence amongst investors. Recognizing the need for liberalization, Government of Pakistan is moving to increase the pace of privatization of state entities, and is removing a number of qualitative and quantitative import restrictions. Financial sector is also seeing a reduction in state involvement with the onset of more and more private banks (EIU, 31). Thanks to such efforts, after several years of declining economic growth, owing to political upheavals, Pakistan has registered good growth rate since 2002. GDP grew 5.5 percent in 2003, 7.1 percent in 2004, and 7 percent in 2005. Such sustained growth also resulted in developing the human resource index as well. Development in human resources is also critical factor in judging a country for investment purposes. Pakistan, a country with less than 50% literacy is still in the process of attaining the ratings that its neighbor India has already acquired. In fact lack of such development has prevented Pakistan from joining India in the lucrative software develop ment, BPO and ITES sector (Country-Watch, 101). The human resources index suffers on account of high unemployment rate. A big percentage of Pakistan, especially women is unemployed because. EIU Statistics (40) point out that in 2000, the unemployment rate for young women was about twice that of the rate for young men. In 2005 the overall unemployment rate was 7.7 percent. The labor force grew at an annual average rate of 4.5% during the 1990s, but growth slowed to less than 3% in 2000-05. At end-December 2005 the labor force stood at 47.7m and the number of employed at 44m, leaving 3.7m (7.7% of the labor force) as unemployed. In addition there's substantial underemployment i.e. there are sectors like Agriculture which employ more people than are actually required. The agriculture sector has been the least tax paying one in this part of the subcontinent, due to couple of reasons ranging from lack of

English 2 Essay Example | Topics and Well Written Essays - 500 words

English 2 - Essay Example My immediate inspiration was my pictures. Looking through my pictures gave me a few ideas for scrapbook pages. In the end, my finished scrapbook had pages revolving around holidays and my birthdays and involving the gathering of my friends and family. The activity made me discover that scrap booking is a fun and creative outlet and past time activity (Carter 3). To reward my friend for her help, I told her I was cooking for dinner and asked her to stay. Being not busy on weekends, I often find cooking a great way to relax without spending a lot of money eating out. I love Chinese food and rice is one of my favorites as well, so I cooked my favorite Chinese fried rice recipe. We spent the rest of the evening eating and watching videos. I am planning to do some long overdue cleaning in my room this coming weekend. I have to admit that I am one of the most disorganized human beings there is, but cleaning my room on Saturday morning should still give me enough time for some leisure activity on Sunday. I plan to start with the cabinets and drawers of my room, which I had stuffed with all kinds of junk. Then I will organize my belongings, get rid of garbage and put my clothes in their proper place. Once I have cleaned everything in the room, I will begin throwing away all the trash. I will take all that I want to get rid of and place them in a garbage bag to be donated to charity. After organizing my room, all I have to do is to vacuum or sweep the floor, clean any mirrors or glass surfaces, and make the bed. Investing the time to change bed sheets, organize the drawers, and my table will ensure that I have a comfortable Sunday. On Sunday, I will be stressed out and in need of some rest and relaxation. That is why I am considering spending the entire day reading a novel I had recently bought. For me, reading is an effective way to relax and recharge my tired body. As soon as I come home from church in the morning, I will turn off my cell phone, play some light

Persepolis by Marjane Satrapi Essay Example | Topics and Well Written Essays - 2250 words

Persepolis by Marjane Satrapi - Essay Example Satrapi's focus is on her life from when she was eight to fourteen, covering this time period with the historical concepts in the background. She begins with a powerful idea; a school photo, and this photograph demonstrates many young girls in their veils. These girls would usually remove these holy veils to play on play breaks (Book Review). The author is finally able to leave the mess of the war, with her parents seeing her off at an airport, so that she can head to the safety of a school in Austria. However, the war did affect her for the rest of her life, and through adulthood we see the scars that are attributed to this experience. From the beginning to the end of her experience in Iran, the author's young life is veiled with the feelings of the oppressive, war-like life in Iran. (Book Review). It becomes quite apparent that like her own parents, many of the young children of this time were encouraged to leave the country in order to find safety. The country was in such an uphea val that even young, promising children of the next generation were not safe. Therefore, this had a profound effect on the author's life, and this effect would change her life forever. Growing up with a war at her doorstep, the author had to consider on a day to day basis how to survive, and had to also worry about her parents' survival. The emotional descriptions present in the book leave readers with a very strong sense of emotion in themselves. For example, I was quite affected by the knowledge that such a young child had to quickly grow up in order to understand the issues around her. Many of the terrible things Satrapi witnessed should never have to be witnessed by a young child. As a reader, I experienced a strong sense of a lost innocence, destroyed because of a war that the child did not necessarily understand. This certainly makes me, as a reader, feel sympathy and sadness toward the author, and this feeling continues for the narrator throughout the novel. The emotions are continually conjured up in the readers as the novel progresses. The book is presented in a very simple way, as small details are introduced to reflect on powerful concepts of emotion in the novel. By doing this, Satrapi shows how much the little things can matter, and how the slightest action can demonstrate a type of emotion (Book Review). The emotions present in all the characters, as they are all affected by the war going on in the background, is very obvious throughout the book. However, it takes some skill to be able to learn to read these small, simple, signs; as for many of us in secure western countries, we do not always see this kind of response in the individuals that surround us. Satrapi herself, as a young child during this time, often depicts the emotions of astonishment and confusion. She is chronically bewildered at having to wear a veil at only ten years old. She also becomes confused upon seeing the picture with her Uncle's former wife's head defam ed (Book Review). She is further confused by the notions of justice and God (Book Review). Because the war was going on for so long in the background of her life, it must have seemed to her that God was unjust, and this would have greatly confused a young girl. She has to deal with the change all around her demonstrated in politics, and it was noticeably difficult for a young girl to understand the

Chemical reaction Essay Example for Free

Chemical reaction Essay 1.Determine the enthalpy change for NaOH (s) + HCl (aq) → NaCl (aq) + H2O (l) using Hesss Law. a. Write the balanced chemical reaction and enthalpy change for Part I (1pt) b. Write the balanced chemical reaction and enthalpy change for Part II (1pt) c. Calculate the enthalpy change using Hesss Law. Refer to the lesson for an example of Hesss Law. (2pt) 2.If the accepted enthalpy change value for the dissolving of sodium hydroxide in water is −44.2 kilojoules per mole, determine the percent error of the experimental value that you calculated in Part I. Show your work. (experimental actual value) / actual value Ãâ€" 100 % 3.If the accepted heat of reaction for the neutralization of hydrochloric acid with sodium hydroxide is −56.0 kilojoules per mole, determine the percent error of the experimental value that you calculated in Part II. Show your work. (experimental actual value) / actual value Ãâ€" 100 % 4.Using the accepted values of the processes youve examined, would your estimation of the enthalpy change for the reaction of solid sodium hydroxide in aqueous hydrochloric acid change from the prediction you made in question one? Explain your answer in complete sentences. 5.Give a detailed explanation, using what you know about bonds and forces of attraction, for the enthalpy changes you observed in parts I and II of this lab. Explain your answer in complete sentences.

Improving Sustainability at General Electric (GE)

Improving Sustainability at General Electric (GE) INTRODUCTION The General Electric Company (GE from henceforth) is an American Multinational Conglomerate founded in 1892 by the merger of American Inventor Thomas Alva Edisons Edison General Electric Company and Thomson-Houston Electric Company .GE currently operates simultaneously in five diverse business sectors namely: Energy (e.g. oil and gas), Media (as NBC Universal in areas such as cable and film), Technology Infrastructure (e.g. Aviation and Healthcare), Home and Business Solutions(Appliances and Intelligent platforms) and Finance ( as GE Capital involved in both commercial and consumer finance). GE currently has businesses in about 160 countries and about 300,000 employees around the globe. The companys headquarters is located at 3135 Easton Turnpike, Fairfield, Connecticut, USA. As a global conglomerate GE has had a controversial history with regards to air and water pollution dating back to the late 1940s and had always been a target of criticism from public officials and environmentalists in the US. However, things took a turn for the better when on the 9th of May, 2005 GEs CEO Jeffery Immelt announced the companys new environmental initiative called Ecomagination. In Mr Immelts words, the aim of the initiative is to focus our unique energy, technology, manufacturing, and infrastructure capabilities to develop tomorrows solutions such as solar energy, hybrid locomotives, fuel cells, lower-emission aircraft engines, lighter and stronger materials, efficient lighting, and water purification technology. As can be observed, the adoption of such an initiative was very bold especially given the large size of GE and it numerous businesses around the globe; nevertheless, the initiative was implemented across the entire company and is currently in its sixth year of operation. As Ecomagination is GEs main sustainability programme, the documents retrieved from the company and used for the purpose of this workbook are in the form of Annual Sustainability Reports which are publicly available at the Ecomagination website (http://ge.ecomagination.com/report.html). The reports are currently available for the years 2005 to 2009 in PDF format and can be downloaded and viewed by the public. IMPROVING SUSTAINABILITY AT GE As mentioned in the introduction, GE has sought to quell criticism of its environmental records and improve its sustainability by implementing a company-wide sustainability initiative launched in 2005 called Ecomagination. The initiative encompasses an array of changes and commitments forming a broad strategy that is implemented with the aim of not just making GE a global leader in terms of sustainability, but also with the accompanying belief that commitment towards sustainable practices, products and services will give GE a competitive advantage and is therefore worth the effort and any initial costs. In order to achieve its goals of becoming a more sustainable company and to increase their overall sustainability performance, GE through Ecomagination has committed to taking the following concrete steps: Reduce water use and improve water reuse: As of 2006 GEs freshwater was totalling about 15.3 billion gallons and so the company announced its goal of cutting consumption by 20% by 2012. By 2009, GEs water usage was down 30% to about10.7 billion gallons which further prompted the company to set a modified goal of aiming for a 25% reduction by 2015. One way GE was able to reduce its freshwater consumption was by conducting Kaizen blitz water reduction events at three of the largest consumption sites;according to GE reports, the Kaizan approach employs multi-functional teams tasked with spending a concentrated week studying water usage at a given facility with the ultimate aim of developing water reduction projects. Double investments in clean Research and Development: At the launch of Ecomagination, GE committed to increase its RD spending on clean technologies from about $700 million in 2004 to $1.5 billion by 2010; by the end of 2009 a total of about $5 billion had been spent on RD for clean technologies which according to GE reports generated about $70 billion in revenue thanks to the new technologies and products from the Ecomagination initiative. In light of this, in 2010 GE announced a commitment to invest an additional $10 billion in Ecomagination by 2015. Reduce Greenhouse Emissions and improve Energy efficiency of its current operations: At the launch of Ecomagination, setting 2004 as a baseline GE made a commitment to cut 1% of its greenhouse gas (GHG) emissions by 2012 and reduce the intensity of its GHG emissions 30% by 2008. As of 2011, GE has been successful in cutting GHG emission by 22% and also reduced the intensity of its GHG emissions by 39%. According to GE reports, overall energy intensity has improved by 34% and the company hopes to improve by up to 50% for all its operations by 2015. Increase revenues from Ecomagination products: In 2009, revenues from Ecomagination grew by 6% to about $18 billion despite the financial crisis. GE projects Ecomagination revenues to continue to grow at double the rate of total GE revenues in the next five years and eventually account for a larger proportion of total sales. Communicate with the public: GE has resorted to keeping communication channels open and also engaging more with the public regarding Ecomagination efforts. For example, as part of its $200 million innovation experiment, the company announced the Ecomagination Challenge running from January to March which encourages entrepreneurs, students etc. to present ideas for future clean energy technologies with the top 5 entries to be awarded $100,000 each. GEs STAGE OF CORPORATE SUSTAINABILITY Employing the concept of the Six phases of corporate sustainability as mentioned by Dexter Dunphy and Jodie Benveniste in their book entitled Sustainability: The Corporate Challenge of the 21st Century, one would place GE in the strategic sustainability. Specifically, GE is a HS5 in terms of Human Sustainability and simultaneously an ES5 in terms of Ecological sustainability. The justification for place GE in the HS5 category of the strategic sustainability phase has to do with the fact that as a company GE has a well-documented history of human development and training programmes that is part of the GE culture. At the centre of this is John F Welch (Jack) Leadership Development Centre established in 1956 and named after Jack Welch the famous ex-CEO of GE who believed in the principle that a company was only as good as it people. Currently GE invests about $1 billion annually on training and education programmes for GE employees. Now, it could be argued that given GEs long standing commitment to Human sustainability, one should place them as a HS6 (Ideological Commitment Phase); this argument is debateable and for the purpose of this workbook, GE is placed as a HS5 because even though it scores high on development and training, its policies are very strict and its culture very competitive which has led to the consistent termination of the underperforming 20% of its workforce. As a result one could argue that although GE invests much in its people, its culture does not put too much effort in aiding underperformers and simply cuts them off. On the other hand, in terms of Ecological sustainability GE is labelled as an ES5 thanks in large part to the launch of its Ecomgination initiative in 2005. Given the fact that GE is over a century old, its decision to make sustainability in 2005 was bold and historic one and going into the future, one can expect the initiative to be implement across all its business around the globe due in large part to its very strong culture. Put in perspective, as a company GE has progressed through a long phase of active antagonism in its early years, through the indifference phase for most of the 80s and 90s before finally making a strong commitment in 2005 with the announcement of Ecomagination. Recently GE has been very active in the area of sustainability from cutting emissions and water usage to investing in clean technologies and seeking ideas from the public, the company has been ranked on various indices as one of the top five sustainability leaders over the past five years. Also the arg ument could be made that GE should be labelled as an ES6, while true, the fact is that given the large size of a company like GE and its numerous businesses in diverse sectors across the globe its sustainability polices will need time to be fully implemented and assessed. GEs COVERAGE OF ENVIRONMENTAL DIMENSIONS CLIMATE CHANGE: Taking into account the large size and global reach of GE as a company, climate change can be highlighted as a key issue that poses a challenge for GE moving forward. In light of this fact, as part of the Ecomagination initiative GE has been able to successfully cut its GHG emissions by 22% and also reduced its GHG intensity by 39%, using 2004 as a baseline. Figure 1 below shows the distribution of operational GHG emissions by GE in 2009 according to type : Source: GE GHG Inventory As observed 85% of their emissions are made up of CO2 while 13% are consist of HFCs which are usually emitted during foam-blowing operations at its refrigerator manufacturing plants, in total they accounted for approximately 98% of GEs emissions in that year. In order to tackle the problem GE has established a GHG inventory modelled after the World Resources Institute/World Business Council for Sustainable Development (WRI/WBCSD) protocol. Going by this inventory GE employs the control approach which accounts for GHG emissions over which the Company has control; the protocol is subdivided into three scope categories namely: Scope 1 which accounts for direct GHG emissions from sources under the control of the reporting company, Scope 2 which accounts for indirect emissions imported or purchased electricity, water or steam and finally Scope 3 which accounts for indirect emissions which result from a reporting companys activities but occur from sources belonging to another entity. WATER: As was highlighted earlier on, from 2006 to 2009 GE successfully cut its freshwater consumption by 30% and is on pace for an additional 25% reduction by 2015. . This was achievable through the installation of GE sensing ultrasonic flow meters which was installed at the largest water consumption site. The sensors provided a more accurate measure of the total flow from 2006 and led to the discovery of an overestimation of about 2.2 billion gallons from the figures previously calculated. In addition, more concrete steps were taken to address water usage such as the replacement of single-speed pumps with new variable frequency drive pumps, improved valve operation and as well as the previously mentioned the running of Kaizen blitz water reduction events to name a few. In addition, GE currently has a project underway aimed at reducing its global water usage by about 5%, the project is running at one of its US plants and employs the use of GE water process technology equipment in t he form of nanofilteration and ultrafilteration technologies to recycle and reuse water. In addition, GE has also established a water inventory protocol based on the previously mentioned WRI/WBCSD GHG protocol. As a feature of this, GE employs a control approach and accounts for freshwater use at so called criteria sites. The criteria sites are simply any GE sites that use a total of 15 million gallons or more annually from a 2006 baseline and subsequently. Quality assurance is another measure by GE that has been implemented with the aim of increasing the accuracy of the water use inventory and eliminating and accounting for errors. WASTE MANAGEMENT: In regards to waste management GE gathers data for all of its operations that generate more than 100 metric tons of hazardous waste and/or more than 500 metric tons of non-hazardous industrial waste. Currently there are three broad schemes put in place to specifically address waste management. The first is the Waste Site Qualification Programme (WSQP) which ensures that waste generated by GE is taken through recycling, treatment and disposal facilities that meet GE rigorous environmental and safety standards. The standards require waste management sites to improve their facilities beyond set local standards in order to gain GE approval because GE sites can only use GE approved facilities regardless of the amount of waste they generate. As of 2009 the WSQP programme has been expanded to about 500 GE manufacturing locations globally. Next in GEs waste management scheme are reportable spills through which GE tracks any spill on or from a site that is reportable to regulatory authorities. As of 2005 GE divided the spills into spills/releases to water such as lake, ocean etc. and spills/releases not to water consisting of any other kind(s) of spills. Lastly, GE has an operational leaders Environment, Health, Safety (EHS) training manuals that provide information on how to identify waste reduction opportunities through the use of lean manufacturing technologies. GEs CONTRIBUTION TO WIDER ECONOMIC PERFORMANCE WAGES AND BENEFITS: With GE currently operating in more than 100 countries around the globe, the company is very active in terms of job creation and employee development. As shown in Figure 2 below, taking into account its total global workforce of about 300,000 people in 2009, about 154,000 people were non-US showing its interest in hiring and developing local people. Source: GE Metrics In addition, GE provides benefits to it employees beyond their normal salaries that is aimed at ensuring heir financial security. It provides a variety of benefit packages to eligible employees across its various businesses around the globe such as retirement and health benefit plans that cover employees and their families. According to GE data, it currently has an assortment of pension plans that provide cover for close to 635,000 employees and retirees around the globe. SHARE VALUE AND RETURN ON INVESTMENT: An examination of GEs stock price from the 1st April, 2010 to 1st April, 2011 shows an increase of about a $2 rise from $18.33 to $20.34 signifying an increase in value for shareholders in spite of the recent recession. Also GEs financial statement at the fiscal year ending 2010 shows the company made a gross profit of over $11 billion, once again confirming the fact that it is providing investors a significant return on their investments. GOVERNMENT TAXES AND FEES: In addition, GE also paid out close to $1 billion in income taxes to the government. USE OF LOCAL SUPPLIERS AND SUPPORT FOR LOCAL BUSINESSES: In an effort to enhance its supply chain management, GE launched a Supplier Diversity Programme in 1974. The aim of the programme is to engage diverse groups of suppliers in order to enhance economic opportunity; according to the GE the core components of the programme are National Minority Development Council, Womens Business Enterprise National Council and a host of state and local development councils. Source: GE Metrics Figure 3 above shows a 2009 distribution of GEs assessments of potential suppliers by region, its findings and the categories of its finding based on the issue(s) of concern. According to reports, GE employs and eyes always open approach in terms of assessment by investigating concerns raised by external sources such as the press reports and pursuing corrective measures immediately. SUSTAINABLE OF PRODUCTS/SERVICES According to GEs 2009 Ecomagination report, revenues grew by about 6% to $18 billion courtesy of products launched under the initiative. GE currently uses an Ecomagination Product Review (EPR) to determine not only which offerings are included in the Ecomagination portfolio but also to ensure that the products improve customers value proposition and environmental performance. In addition, GE has developed a process for what it terms New Product Introduction (NPI) which focuses on consumer needs and views environmental performance as a key customer priority. This exemplifies GEs cradle to grave approach of being a responsible corporate citizen by not focusing solely on commercial factors but also environmental and health impacts of their products and services. As a global conglomerate, GE is involved in the provision of a diverse set of products and services from appliances and aviation to healthcare and financial services. As Figure 4 shows below, most of GEs revenue is derived from offering financial services through GE Capital and as such most people even label it as a financial company with a manufacturing arm. Source: GE Metrics The manufacturing arm in the form of the provision of technology infrastructure is another of GEs significant business units and perhaps the most well-known. Taking these facts into account, this workbook will focus briefly on how these two major GE businesses (GE Capital and GE Technology Infrastructure) and their products could be made more sustainable. GE Capital: As mentioned earlier, GE has invested significantly in cleaner technologies and is also involved in financing and providing loans to support external businesses with a focus on innovative and sustainable practices and products. In an effort to make GE Capital more sustainable, GE could gradually consider putting more resources in telecommuting; by doing this there will be less need for large GE buildings and offices around the globe. In addition, it could lead the way by installing most of the innovative technologies derived from its Ecomagination initiative at its GE Capital offices. GE Technology Infrastructure: As GEs major manufacturing arm has made significant gains especially by focusing on the production of more sustainable products via the Ecomagination initiative. As a global manufacturing force with most of its products available in a range of places such homes, airports, banks and schools to name a few, GE has a great avenue to influence a global shift to the use of more sustainable products. GE can also improve this business unit, by making a conscious effort to minimize emission, water usage and improving waste management. There is no doubt that this is probably the division with the most sustainability concern due to the nature of the operations involved in the production process, as such GE would do well to also invite external evaluators to assess its plants and provide more sustainable solutions to enhance its production process. ETHICAL CULTURE GE is well known for its strong company culture and its integrity policy is laid out in a document entitled the spirit and the letter which all employees are required to pledge to and sign. This is accompanied by an ombudsman process that allows employees to raise and report ethical concerns with impunity. GEs integrity policy covers the following parties: Directors, Employees, Officers, Subsidiaries and Controlled Affiliates, Non- Controlled Affiliates and all Third parties representing GE. Specifically, all employees are expected to understand GEs policies and are obligated to raise any concerns they have while leaders are obligated to prevent compliance issues from arising, detect them when and if they arise and respond to them expediently. From close examination, one can observe that GEs integrity policy is quite plain and easy to understand, it is specific and detailed as it lays out the following: The parties bound to the policy. What is expected of the parties in terms of compliance and their obligations An exhaustible list of various channels and steps to be taken in terms of reporting concerns. It explains how and when the process will be carried out The penalties involved when the policy is violated And most importantly a bold statement that prohibits and punishes any form of retaliation against those who raise concerns. The integrity policy covers a broad range of parties and lays out in details how those parties are to be treated and how related ethical concerns are to be treated. A snapshot of this is a follows: Employees: With regards to its staff, their rights, obligations and expected conduct is laid out at the beginning of the integrity policy. For instance, employees are encouraged to raise concerns early, they also have the right to remain anonymous but can choose not to, their confidentiality is respected and most of it is clearly emphasized that retaliation is prohibited. Customers: Regarding the treatment of customers, all forms of improper payments are prohibited and guidelines are provide on how to deal with various potential scenarios; however, reasonable expenditures and gifts are acceptable but subject to corporate guidelines. Suppliers: GEs suppliers are also expected to abide by lawful guidelines such as fair work practices and quality standards. Overall, they are expected to abide by national laws and regulations and also ensure the safeguarding of confidential information. Wider Community: GEs integrity policy also provides guidelines for dealing with governments, preventing money laundering, safeguarding clients privacy, ensuring fair competition and dealing with local communities. The policy is very specific and provides clear expectations and steps on how to deal with the aforementioned members of the wider community. It is evident that GE has parlayed it long experience in doing business around the globe into creating an ethical code of conduct that is unambiguous and rigorous in addressing all stakeholders in its businesses around the world. KNOWLEDGE REVIEW FEATURES OF EFFECTIVE SUSTAINABILITY MONITORING SYSTEMS The issue of sustainability has become more serious and highly debated in recent times, given the large amount of companies that claim to be committed to sustainable practices and products, this section will provide an annotated bibliography that reviews the features of effective sustainability monitoring systems. By doing this, the aim is to gain perspectives from experts in the field of sustainability that lay out what effective sustainability monitoring systems should contain and as such provide use with a set of requirements with which to assess the currents systems being implemented by various companies today.