Wal Marts Global Procurement Division Management Essay

Wal Marts Global Procurement Division Management Essay Wal-Mart Stores, Inc. (NYSE: WMT) was founded in 1962 by Sam Walton and incorporated in 1969. Walmart has been maintaining its status as the largest grocery retailer in the U.S. The company operates at more than 8,500 retail units under 60 different banners in 15 countries, and reported sales revenue of $405 billion in 2010. The company strives to strongly commit to its promise to the customers; Every Day Low Prices. In order to deliver low-priced goods and make the customers lives better, the company particularly leverages operating expense and improve its global expertise. From another perspective, Wal-Mart Stores, Inc. is one of the biggest buyers for many suppliers whether they are domestic or international producers, and whether they are of a small scale or a big scale. To reduce the bottom-line costs, the company has been vigorously attempting to reduce product costs and transport costs. International Purchasing As the companys business dramatically grew, it created Global Procurement division in 2002 to better manage the international purchasing activities. The division makes decision on and oversees direct business import and factory purchasing from their international suppliers in many different locations around the globe. To name a few, Wal-mart obtains global procurement offices in Bangladesh, Dubai, India, Indonesia, Korea, Pakistan, Shanghai and Shenzen in China. These offices allow international suppliers to apply for direct import program through which they could establish the supplier relationship with Wal-mart, after the thorough examination. Wal-Marts Global Procurement Division Headquartered in Shenzen, China, the division is responsible for identifying new attractive international suppliers, sourcing new products as necessary, and maintaining good supplier relationships with the existing suppliers. In addition, it manages the global supply chain of Wal-marts direct imports. The majority of the staffs are located in Shenzen, China as the company has the greatest supplier base in China. By setting up the Global Procurement division, the company gained better insights into their international suppliers. Through this program, the company could understand the issues of global sourcing and suppliers and work towards solving them in order to assure quality. As a supplier maintenance process, the global procurement offices are also responsible for conducting factory inspections, and provide the workplace standards training that align with the companys own standards. International Supplier Selection Similar to the companys very thorough domestic supplier selection, the global procurement undergoes the selective process. The greatest advantage that the international direct import brings is reduced costs. Due to high labor costs, many of the U.S. factories cannot offer Wal-mart competitive pricing. As a result, Wal-mart explored its options in Pacific-Asia/Asia. In many Asian countries, manufacturers benefit from relatively low labor costs. Among those international supplier, Chinese suppliers are definitely the companys biggest supplier base. To ensure the quality of products in addition to lower costs, the global procurement division strives to help them adhere to the standards and make factory inspections/audits. Also, the company has its own ethical standards set for its potential and existing suppliers as an essential requirement. Reliability and trustworthiness are also important criteria to decrease the delivery failure and delay rates. Through the companys own global suppl y chain, it manages the transportation of goods from international suppliers to the U.S. warehouses. Supplier management system There is no need to tell how far has reached Walmart on the supply chain management. To ensure its customers satisfaction is the highest, the biggest worldwide retailing company provides a Supplier Training program. Once a supplier has been accepted and has read the Proposal Packet which introduces the business philosophy and practices, a training program managed by Accenture must be followed. In 2005, Walmart and the Retail Industry Leaders Association (RILA) created an online retail supply chain certification for suppliers. A web-based training program for Chinese factories to audit ratings and productivity is also included. A lot of side businesses like 8th Walton offer services and solutions to support organisations who want to do business with Walmart. Intertek Group factories inspection, factory audits In August 2009, Walmart announced its partnerships with Intertek to ensure the quality of the suppliers product. The partner provides the RoHS (Restriction of Hazardous Substance) certification by a cost-effective program to assure the product compliance. The process includes documentation review, process audit and lab testing. Local Suppliers The Local Supplier program was put in place to satisfy local demand for specific products. A complete process has to be completed from the store manager to the Divisional Merchandise Director. Also, a special program for Women owned business and minority businesses. Benefits are present for the chain: Wal-Marts local sourcing strategy has been seen as a move to win the favour of its customers. Walmart recognized that local suppliers are more aware of national trends, customers tastes and local needs. That helps create links with the population as well. Requirements A lot of requirements must be fulfilled by suppliers to be part of the big empire retail system. First, all businesses must adhere to the RetailLink system which is a website to plan execute and analyze the production. Moreover, suppliers must include EDI (Electronic Data Interchange) to their system for real-time delivery of business documents. EDI is part of the Vendor Management Inventory (VMI) which, through the use of sale information, recommends orders to Walmart. Over the years, EDI has actually proven to be one of the most efficient and effective ways for Wal-Mart to conduct business with its suppliers. That contributes to oversight the inventory programs of both the supplier and Walmart. Despite these technical requirements, tests labs might be asked to ensure the highest quality and safety: we use different independent third party testing labs to provide a safety net test. Also, there is a total prohibition of any kind of gifts or present to Walmart managers. The company asked for industry knowledge and integrity from its suppliers. Finally, suppliers must meet regulation differentiations among countries with the help of the Office for Regulatory Compliance (ORC). Some standard have to be reach as well: the compliance with the law, the no-child labor application, hiring and employment practices, compensations (wage), freedom of association and barging, health and safety, environment, conflict-free of interest, anti-corruption and financial integrity. Violations of these standards can be reported in any country confidentially. Insurance requirements A product Commercial General Liability insurance must be purchased by the supplier for a minimum of $Â  2 million. An employees insurance has to be bought for a minimum of $1 million. An employers liability must also be included. Benefits of Global Sourcing Cheap Labor Resrouce Costs One of the reasons for Walmart pursue international purchasing is there are cheaper labor power available abroad. Looking at hourly compensation cost of the world by United States Department of Labor, one can clearly see that there are numerous nations that provide cheaper labor force than that of the US. Suppliers in nations with cheaper labor are likely to provide cheaper products which would benefit Walmart in cost saving. Walmart is trying to decrease labor costs further by launching programs such as job optimization and regrouping program Some resources are actually cheaper in certain countries and Walmart could benefit from such difference by purchasing resources from cheaper regions. Moreover, in some cases, due to such differences in cost, there really is no competitive domestic supplier available making it inevitable to purchase internationally. Diversification of Supplier Base Also, by purchasing internationally, Walmart can diversify its supply base. By doing this, Walmart not only can purchase various products with cheap price but also ensure sustainable and less volatile supply base. For instance, in recent disaster in Japan, even though Walmarts business in Japan has taken some damage, it is unlikely to damage overall company as their supply base is diversified. Regarding the issue, Moodys Investors Services Senior Analyst Charles OShea said, While Japan may be an important market for Wal-Mart, the company has other international opportunities that have more growth potential over the long term. As you can see in the example, Walmart benefits greatly by diversifying its supply base globally. Not only that, Walmartcan improve its bargaining position towards domestic suppliers by diversifying its supply base. As Walmartcanpurchase from suppliers outside the US, it does not depend on domestic suppliers providing it bargaining power to push domestic supplie rs to provide contracts better conditions. Risks of Global Sourcing Transportation Cost Despite benefits mentioned above, international purchasing comes with some risks and costs. To start with, there are transportation costs. As international suppliers have to ship products, it is important to minimize transportation cost. Walmart tries to avoid unnecessary transportation cost by having standards and requirements when selecting supplier. By selecting supplier that fits the standards, Walmart can avoid potential additional cost. Also, Walmart offers supplier information manual which its suppliers are required to follow as stated in contract with Walmart. The contract also states clearly that it is suppliersresponsibility to deliver products timely and in case of delays, compensations are in order. Walmart also tries to prevent such failures by educating its suppliers through supplier training programs. Reputation and Quality Control Walmart also has to ensure its reputations are protected when dealing with international suppliers. If products from international suppliers are of incompetent quality or if their suppliers have ethical issues, Walmarts reputation would be could damaged. To prevent any potential problems, Walmart practices audits to its suppliers. For instance, Walmart carried out unannounced audits to factories of its supplier in China. To Walmarts surprise, it found out that the factories had unsafe work practices which caused staff injuries. If it were not for these audits, Walmarts reputation could have been damaged for dealing with unethical supplier. Corporate social responsibility As one of the largest world companies, Walmart has no choice to look on the impacts of its actions. But, because Wal-Mart only directly manufactures 8 percent of everything is sells, the solution lies for the most part with the suppliers. Walmart asked to its 100,000 suppliers 15 questions for sustainability regarding energy and climate, material efficiency, natural resources and people and community in the goal to transform into a sustainable products rating for customers. Walmart also pursues 3 major environmental goals: to be supplied 100% by renewable energy, to create zero waste and to sell products that sustain people and environment. Established in 1992, the Ethical Standard Program, a division of the Global Procurement, is responsible to verify if suppliers are in conformance with Walmart standards and local law. The company experienced some troubles in China relatively to management style (well-run prisons) and to the labor exploitation. Child labor and Labor/factory conditions In 1993, Walmart was accused of its first violation of international labor rights in Bangladesh: Children in Bangladesh were forced to work for five cents an hour while Wal-Mart falsely indicated that their garments had been Made in USA consistent with their 1985 image campaign. Despite many efforts, in 2006, around 250 children were found working in a factory. Bad treatments, physical, moral and financial were also reported. The fault can be rejected to suppliers, the core problem, and Walmart could stop the abuses by halting its cutting and running. Various violations have been reported on the minimum wage, forced labor, overtime paid, bathroom breaks or rights to independent unions. Against green initiatives/sustainability Walmart put in place a Sustainable Value Network to seek solutions for an eco-friendly environment. The company began to see environmental sustainability as a way to achieve two goals: improve Wal-Marts bottom line and its reputation. Efforts are driven in this direction, but there is still a lot to do. Some say Walmart got engaged in these actions, looking to its bottom line. Recommendation Better Supplier Relationship Walmart has been criticized by general public that it forces its suppliers to cut down costs and processes. While this procedures have helped Walmart to achieve its business motto, Every Day Low Price (EDLP), it also resulted in somewhat harming its relationships with its suppliers. For instance, survey by RetailingToday.com showed that Walmarts current suppliers believe Walmart does not help its suppliers to understand the business and operations nor does it make information and resources open. This kind of data shows that Walmarts over-compulsive requirements has led to distrusts between it and its suppliers. For Walmart to successfully survive in future market, it is essential to create sustainable relationships with its suppliers. Green Walmart For similar reasons mentioned above, Walmart has been criticized for not environment friendly. As Walmart pursues cost minimization, it somewhat neglected environmental issues which is damaging its brand image. There are demonstrations and movements that argue to not purchase from Walmart because of it is harming environment. For Walmart to better its brand image, it is important to go green. Ethical business Other issues include ethical problems. It is again related to Walmarts goal of minimizing cost. To meet with Walmarts demand of cost minimization, some suppliers from developing countries using child labor. Not only is itself unethical, it is also morally being criticized because Walmart does not actively prevent this. As mentioned above, this is also harming Walmarts brand image. Overdependence on Chinese suppliers Currently, Walmart is depending hugely on supplier from nations with cheap labor and cheap resources like China. However, China is not a nation of infinite resources or will its labor always stay cheap. Ultimately, Chinese labor cost and resource prices will rise. If Walmart stay over-depending on China, potential danger will always remain. To prevent such danger, it needs to more diversify its supplier base.

Coop

Cooperative ManagementSubmitted By: Cherlyn Ohoy Submitted To: Ms. Crispina Corpuz Date of Submission: October 15, 2012 AMPC: â€Å"FOCCUS COOP† Background of the Cooperative FOCCUS  (Finance Organization achieving Certified Credit Union Standard)  is a brand awarded to AMPC by the World Council of Credit Union based in the United States through CUES (Credit Union Empowerment and Strengthening) last 2003. Being branded a â€Å"FOCCUS† coop is a stamp of class and a seal of guarantee of the members’ financial investment security, as well as, its excellent, efficient and quality service. History of the cooperative Founded in  June 19, 1991  by  Ã‚  21  MARKET VENDORS  in Agdao Public Market Contribution per pioneer member was P3,000  for a total Share Capital of P63,000 Old name was  AGDAO MARKET VENDORS MULTI-PURPOSE COOPERATIVE  (AMVMPC) Core values A –  Action-oriented  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  C –  Competency G –  Generosity  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  O –  Organized  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   D –  Discipline  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  O –  Open-mindedness A –  Accountability  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  P –  Perseverance O –  Optimism The Mission and Vision * MISSION * To uplift the quality of life of its members through the provision of quality products and services; and continuous promotion of cooperativism. VISION * A dynamic, strong and sustainable cooperative in Mindanao, whose members are empowered and working together in a spirit of cooperation, social justice, equity and peace towards total human development. How to join * Attend one hour free Pre-membership Educational Seminar (PMES) at any AMPC Office. Scheduled daily (morning and afternoon). * Fill-up Application Form for Membership and attached most recent photo ID. (1 pc. 1X1 and 1 pc. 2X2). * Submit photocopy of Birth Certificate or Marriage Contract. * Pay the required amount of Membership Contribution. The Products and Services Offered * PRODUCTS * SAVINGS DEPOSIT  (Earns 4. 5% per annum) * YOUTH SAVINGS (1 month old to 17 years old) * REGULAR SAVINGS (18 years old and above) TIME DEPOSIT| Regular Time Deposit| RANGE OF AMOUNTS| Months| | 3| 6 | 9 | 12| 3 YEARS (net of tax)| 10,000 – 20,000| 5%| 6%| 7%| 8%| 8%| 20,001 – 50,000| 6%| 7%| 8%| 9%| 9%| 50,001 – 100,000| 7%| 8%| 9%| 10%| 10%| 100,001 – 400,000| 8%| 9%| 10%| 11%| 11%| 400,001 – 900,000| 9%| 10%| 11%| 12%| 12%| 900,001 & ABOVE| 10%| 11%| 12%| 13%| 13%| | | . | | | | | | | | * TERMS: Three to 12 months period are subject to tax. Three years period are withdrawable only upon maturity and tax free. Rates are subject to change without prior notice. * Special  Time Deposit TERM:  P1,000 – 9,999   has 6% interest per annum. SHARE CAPITAL Minimum share is P1,000 Minimum of 10% interest per annum (dividends) Not withdrawable. * LOAN PRODUCTS 1. Capacity-based(max of P500,000. 00) 2. Providential 3. Agricultural 4. Commercial 5. Real Estate Interest rate of 3% per month based on diminishing balance or 1. 623% per month effective rate. Affordable repayment terms: 12-24 months. Emergency Loan -Based on Share Capital (max of P5,000. 0). * MORTUARY AID TRUST FUND P15 contribution per Regular Member. P5 contribution per Associate Member. Pro-rated contribution for less than a year member. * SERVICES 1. BOTIKA NG KOOPERATIBA * Gamot na Mura, Epektibo Pa 2. LIFE INSURANCE * Group Life and Accident with Fire Insurance (GLAFI) Annual Premium P250. * GADDI-Annual Premium  Ã¢â‚¬â€œ P230: Benefit P20,000. * Coop AKSI Plan – Annual Premium – P100: Benefir P20,000. * Keyman Accident Protector Plan for as low as P1,800 per annum with P1,000,000 coverage. * AMPC Family Insurance – Annual Premium P150. 3. NON-LIFE INSURANCE * Fire Insurance Cash Assistance (FICA) * Home Protek500; Annual Premium of P500 pesos. * Home Assure for as low as P1,905 Annual Premium. * Standard Fire Insurance/Motor Car Insurance. 4. HEALTH CARE (Annual Premium P1,300) * Unlimited Consultation for Member and Members' immediate dependents. * Unlimited Basic Laboratory Services and Diagnostic Procedures for members only. Hospital confinement-in-patient. * Health Care coverage on top of PhilHealth: P1,500 per day or P20,000 aggregate per year and another surgical benefit of P10,000 aggregate per year. Social Responsibilities 1. 2. SCHOLARSHIP PROGRAM 3. Technical Education Assistance 4. FEEDING PROGRAM 5. BLOOD BANK 6. â€Å"Dugo Mo, Kinabuhi Ko† 7. HOG DISPERSAL PROGRAM 8. ADOPT-A-SITE 9. LIVELIHOOD SEMINARS Financial Highlights * Operation Highlights as of December 31, 2008 * MEMBERSHIP   * DEPOSITS * SHARE CAPITAL| * REVENUE   * ASSETS GROWTH * NET SURPLUS| TAGUM COOPERATIVE Background of the Cooperative Tagum Cooperative has also now ventured into funeral service known as â€Å"funecare. † According to Tagum Coop Chairperson Norma R. Pereyras, the funecare is intended to respond to its members’ clamor for a â€Å"womb-to-tomb† complete service to them. The funecare service has filled in the gap toward a total member service satisfaction. â€Å"Tagum Cooperative gives value to its industry name. It is sensitive to its public image as a top-ranked cooperative. It does not sit on its laurels. It continues to innovate to benefit its members. And despite its greatness in the sector, it has kept its humility as an institution. No wonder, it has evolved into a model and well-respected cooperative. I will not be surprised if Tagum Cooperative is declared the best managed coop in the entire Philippines or in this part of Asia. To our mind, it is a fact waiting to happen in just a matter of time,† the CDA regional director concluded. History of the cooperative Almost forty years  ago,  Tagum Cooperative  was just an obscure, self-surviving money lending institution. Now, it is a world-class Savings and Credit Cooperative recently adjudged  Ã¢â‚¬Å"Winner†Ã‚  both in  Regional and National Categories of the Business Excellence Award for Small and Medium enterprise (SMEs) organized by the Philippines Small and Medium Business Development Foundation, Inc. PHILSMED) The Business Excellence Award for SMEs was received by the Tagum Cooperative Chairperson, Ms. Norma R. Pereyras, herself a Regional and National Awardee for Outstanding Volunteer for Best Practices, 2002, along with the  Tagum Cooperative Vice-Chairperson, Ms. Monica L. Salido and Manager, Ms. Juris D. Perez, CPA, MBA. The said Awa rd was given by the representative of the The Secretary of Department of Trade and Industry (DTI), Hon. Peter B. Favila, together with Ms. Mina T. Gabor, Ph. D. , President of Philippine Small and Medium Business Development Foundation, Inc. PHILSMED), Usec. Hon. Lecira V. Juarez, Chairperson, Cooperative Development Authority (CDA), Mr. Cresencio Selipara, 1st  Vice-President- Landbank of the Philippines, Mr. Donald Patrick Lim, Vice-President for Marketing- Philippine Daily Inquirer and Ms. Agnes Celeste D. Fernando, Head SME – Channel Distribution, Globe Telecom on October 6, 2005 at the Philippine International Convention Center (PICC), Reception Hall, which was attended by more or less 1,300 cooperators all over the country. Other Awardees/ Recipients for the National Category were: R. A. Gapuz Review Center- Manila, Lighthouse Cooperative, Inc. – Cagayan, Mabini Limers and Farmers Multi-purpose Cooperative,Inc. – Guimaras and New Central Woodcraft- Iligan City, of which Tagum Cooperative garnered the highest points. Tagum Cooperator’s belief in the value of work in service has brought the great twist. From its humble beginning as  Ã¢â‚¬Å"Holy Name Society (HNS) of Tagum Parish† in May, 1967  with only a handful Members and an available Share Capital of only P80. 00,Tagum Cooperative  had slowly stepped up to the limelight, now, conveniently servingits more than 26,000 members, of which 61. 0% composed of Woman-Members, coming from Tagum City and its nearby provinces and cities, with  a laudable P475. 1 Million in Assets,  Ã¢â‚¬Å"No External Borrowings†Ã‚  for the last five years. Now, Tagum Cooperative has a computed  Loan Portfolio of P317. 1 Million  that served over 160,000 households in coordination and tie up with L ocal Government Unit (LGU) that had helped and support in addressing the economic problem. Alleviating them from poverty line and upgrading their social, educational and health status. It was branded a  Finance Organization achieving Certified Credit Union Standards (FOCCUS)  in the year 2000 by the  World Council of Credit Unions (WOCCU),  based in the United States of America (USA), through its outreaching- cooperative program office in the Philippines, popularly known as the  Credit Union Empowerment and Strengthening (CUES)- Philippines, which have become the tenets of the Cooperative in its operations, programs, and policies, thus Tagum Cooperative as World Class savings and credit cooperative provides the necessary environment for the safe and security of the member’s money, giving the highest interest rates on their deposits and savings through the adoption of a sound, effective and rigid financial management. Today,  Tagum Cooperative  is among the prime movers of the Country’s Cooperative Movement, being one of the leading and most active affiliates of the  National Confederation of Cooperatives (NATCCO), Mindanao Alliance of Self-help Societies- Southern Philippines Educational Cooperative Center (MASS-SPECC) and Model Credit Network (MCN). Moreover, Tagum Cooperative is a leading advocate in the province in empowering or providing opportunities and protection to women through its  Gender and Development and Family Enrichment Program, Savings and Credit with Education (SCWE) Program, wherein 1,707 Woman-Members have availed of P4. 2 Million worth of loans for their livelihood or income-generating projects,  Tagum Cooperative Women’s Livelihood Association, Inc. (TCWLAI)  wherein 70 members have availed the technology of meat and food processing and candle making, thus, it  Ã‚  aimed at augmenting their respective family’s income. All of these achievements are made possible because Tagum Cooperative stand firm to its commitment to extend the best service to its members and that each member will be proud of being a part of Tagum Cooperative. Thru good governance by its able Officials, empowered Management Staff and well informed membership, Tagum Cooperative is posed continue its active participation as a Cooperative and as a partner of the government in progress and economic development of the Province of Davao del Norte, the neighboring provinces and the Philippine Cooperative sector in general. Core values T – Trustworthness A – Accountability G – Good Centered U- Unity M – Member Friendly C – Competence O – Optimism O – Openness P – Passion The Mission and Vision * MISSION * To promptly delivered innovative and responsive products and services to a member in a secured financial environment * VISION * Tagum Cooperative is the best â€Å"One-Stop-Shop† Cooperative for total member care. How to join * STEP 1. Attend one (1) hour Pre-Membership Orientation from Monday to [email  protected] 9:00-10:00 A. M. or 4:00-5:00 P. M. * STEP 2. Fill-up Membership Application Form and submit it with 2 pcs 2Ãâ€"2 recent colored picture with your name and date. * STEP 3. Pay the required amount, as follows: Membership Fee| 200. 00| Mortuary Fee| 480. 00| Initial Share Capital Deposit| 500. 00| Initial Regular Savings Deposit| 500. 00| Registration Fee (Savings ; Loan Seminar| 100. 00| Member’s ID Card| 20. 00| TOTAL| 1,800. 00| The Products and Services Offered * PRODUCTS * Regular Savings| A compulsory savings to all TC Members. It is a liquid savings account with no contractual maturity and can be withdrawn anytime with a minimum maintaining balance of Php 500 and will earn 4% interest per annum based on the Average Daily Balance (ADB). It has a specially designed passbook issued upon opening of the account. Depositors who religiously observe regular savings will have the chance to be awarded â€Å"Savings Depositor of the Year† during the Annual General Assembly. Diligent Savers of Regular Savings will get specially designed promo items. | * Share Capital| A compulsory deposit to all members. It has a minimum share required to be completed within 2 years from date of membership. The share capital deposit cannot be withdrawn unless Member will terminate his/her membership. Interest Rate: 8,000 and up = 7% per annumInitial Deposit: Php500. 00Minimum requirement: Php8,000. 00Characteristics:A cumpulsory deposit to all members. Php8,000 minimum share required to be completed within 2 years from date of membership. Share Capital Deposit cannot be withdrawn unless Member will terminate his/her membership. Earns divided aside from the guaranteed interest. A specially designated passbook is issued upon opening an account. Depositors who religiously observe continuous share capital build-up will have the chance to be awarded â€Å"Share Capital Depositor of the Year† during the Annual General Assembly. Through point system, depositors will get specially designed  promo  items. | * Youth Savers Club| A savings product for  kids 0-12 years old with a specially designed  passbook  issued upon opening an account. It has a minimum of  P50. 00 to open  an account and maintaining balance is P 50. 00 and will earn 4% interest per annum based on the Average Daily Balance (ADB). Member will receive gift items upon signing the application form as Tagum Coop| * Power Teen Savers Club| A savings products for teens 13-17 years old with especially designed passbook issued upon opening an account. Minimum of 50. 00 pesos to open an account. Maintaining balance is 50. 00Member will receive gift items upon signing the application from as Tagum Coop's way of welcoming new members. Diligent savers will receive specially-designed items that can be used at home or at school. The more the teens save the more rewards they get. Depositors who religiously observe Power Teen Savers Program will have the chance to be awarded â€Å"Power Teen Savers of the Year† during the Annual General Assembly. This is the perfect gift that the parents, grandparents, uncles/aunts, godparents, brothers/sisters can give to their children, nephews, nieces, grand children on graduation, Christmas, birthdays, etc. | * Time Deposit| A special time deposit certificate is issued to the member for every account opened. Interest on deposits varies depending on the amount, the longer the term and amount, the higher the interest rate. Upon maturity date, the member may renew the said time  deposit account , however if the member  Ã‚  misses to renew his/her time deposit on maturity date, Tagum Cooperative is  Ã‚  authorized to automatically roll over the said time deposit with the same term and rate. In case a member decides to terminate the time deposit account prior to maturity date, Tagum Cooperative will subject the  Ã‚  member’s Time Deposit to 4% interest p. a. Diligent Savers of Time Deposits will have the chance to be awarded â€Å" Time  Ã‚  Depositor of the Year† during the Annual  Ã‚  General Assembly. | * Pabilisang Savings para sa mga Drivers Advocacy (PaSaDA)| Aims to encourage drivers to start a daily habit of saving and realize their desire to build up a contingency fund. Interest Rate: 4% per annumInitial Deposit: Php30. 00Initial Share Capital(for non members): Php250. 00| * Golden HEARTS| | TERM| P 1,000. 00 to 100,00. 00| P 100,001. 00 to 250,000. 00| P 250,001. 00 to  Ã‚  500,000. 00| P 500,001. 00 to 1,000,000. 00| 1,000,001. 00 and above|   30-89 days|   5. 00%  |   5. 50%|   5. 0%  |   5. 50%|   5. 50%  |   90 – 179 days|   6. 00%|   6. 50%|   7. 00%|   7. 50%  |   7. 50%|   180 – 359 da ys|   6. 50%  |   7. 00%  |   7. 50%  |   8. 00%  |   8. 50%  |   360 – 719 days|   7. 50%|   8. 00%|   8. 50%|   9. 00%|   9. 50%|   720 days|   8. 50%|   9. 00%|   9. 50%|   10. 00%|   10. 50%  | * LOAN PRODUCTS 1. Major Loan: * Regular Loan (RL) * Government Employees Special Loan (GESL ) * Private Employees Special Loan (PESL ) * Convenient Loan (CL) * TC Income-Generating Service Loan (TC-IGSL) * Special Credit Line Service Loan (SCLS) 2. Minor Loan: * Cash Advance (CA) * Emergency Loan (EL) 3. Special Loan: * Instant Loan Bonanza * Micro-Finance Loan * Benefit Loan Appliance and Furniture Loan * Travel loan * SERVICES 1. Special Programs * Savings and Credit with Education (SCWE)| * AFLATOUN| * TC Youth Laboratory Cooperative Article| * TC Women's Livelihood Cooperative(TCWLC)| 2. Members Benefits and Assitance (MBA) * Himsug Pamilya Program (HPP) 3. Coop Funecare 4. Ancillary Financial Sercvice * Inquiry Machine| * Pinoy Co op ATM| * TC Collection Service Center (Bayad Center)| Financial Highlights PANABO MULTI-PURPOSE COOPERATIVE Background of the Cooperative Panabo Multi-Purpose Cooperative (PMPC) operates and advocates the values of self-help, self responsibility, democracy, equality, equity and solidarity. In the tradition of its founders, cooperative Members, Officials and Staff believe in the ethical values of honesty, openness, social responsibility and caring for others and the community. PMPC is a financial service, member-owned Cooperative dedicated to provide the financial needs of its members since 1965. PMPC is a Finance Organizations achieving Certified Credit Union Standard (FOCCUS) ; branded cooperative. It has achieved International Prudential Standards on Financial Ratios designed to protect members ; assets which will ensure operational sustainability and quality of member service. PMPC is implementing the MCUB methodology. MCUB (Model Credit Union Building) is a technology designed to transform a COOPERATIVE into a Model Credit Union (MCU) which adheres to Financial Disciplines where ; Members ; money is safe and protected. PMPC is a leading affiliate of the largest and strongest confederation of cooperatives in the Philippines which is the National Confederation of Cooperatives or NATCCO, with National Headquarters located at 227, J. P. Rizal Street, Project 4, Quezon City, Metro Manila; the Mindanao Alliance of Self-Help Societies-Southern Philippines Educational Cooperative Center (MASS-SPECC) based in Cagayan de Oro City; and, the Model Cooperative Network (MCN), situated at Rm. 324 GB Cam Bldg. , Monteverde St. Davao City, the official network of the FOCCUS branded cooperatives in Mindanao. PMPC is a bonafide member and staunch supporter of COOP-NATCCO PARTY-LIST, the only Party-List in Philippine Congress that represents the true voice of the Philippine Cooperative Sector and the underprivileged workers and small business entrepreneurs. History of the cooperative Through the zealous effort of Panabo Parish Priest Fr. Eugene Simon, PMPC was organized with 15 founding cooperators with a combined initial share capital of seven thousand five hundred pesos (P 7,500. 00) in 1965. Today, through prudent management ; adherence to financial disciplines, PMPC has magnified its growth by over 25,000 member-user strength and P312 million in assets (as of July 2008). Core values The Mission and Vision * MISSION * * VISION * The Products and Services Offered * PRODUCTS * * SERVICES 1. Financial Highlights Background of the Cooperative History of the cooperative Core values The Mission and Vision * MISSION * To promptly delivered innovative and responsive products and services to a member in a secured financial environment * VISION The Products and Services Offered * PRODUCTS * SERVICES Financial Highlights Sources: * http://agdaompc. webs. com/ * http://www. tagumcoop. org/index. php/aboutus * http://WWW. panabocoop. org

International Marketing Essay

UK is one of the major centers for commerce and international business in the world. It is one country that has had to raise its economy through free trade and other business related portfolios. It later developed to principles of liberalization of international trade and investments in order for it to expand and grow especially in the 20th century. It has been able to attract large investments from multinational countries in order to meet the demand for the larger British population thereby minimizing unemployment rates. This paper will therefore examine the investment opportunities and challenges in UK (Office for National Statistics, UK 2006). Foreign investments Opportunities The UK has very many opportunities in terms of foreign investments. It is one of the fifth largest economies in the world and second in the European Union. The country’s capital, which is London, is considered a haven of investments especially in the financial sector. The country has a GDP of $ 2. 1 trillion and a GDP growth rate of 2 %. (2007 estimates). Most of the opportunities lie in the service sector (Office for National Statistics, UK 2006) Industries UK has very many industries that can be invested in by any foreign country and the major ones are; agriculture, telecommunications, manufacture, fishing and tourism. The UK is one of the leading countries in agricultural exports and this is the main driving force for its economy. (Bailey, 1999) International trade statistics Major exports The dollar value for most of the export trading has been improving due to increase in demand for exports going by recent statistics on total exports from the UK. The trend however has been found to be fluctuating and that it depends on other factors such as; political stability, foreign policies etc. (Office for National Statistics, UK 2006) The major exports the country has been undertaking are the agricultural produce; wheat, rice, maize and tea. In the manufacturing the sector, the country exports agricultural machinery such the tractors and its implements, food, tobacco, paper, printing, textiles, paper and publishing. In the service sector, the country has developed high-tech networks in the telecommunications industry. The leading company in this sector is Vodafone and it has also gone global in its service provision. Major imports The major imports that are imported to the country include automobiles, horticultural produce, tea, coffee, and oil. The dollar value for most of the imports is low as the demand for the products reduces in the country. The dollar value increases when oil products become scarce due to international demand. (Bailey, 1999) Balance of payments situation According to the Office of National statistics, the manufacturing industry accounted for approximately 19% of all the national output in UK last year and also made up to 16% of all the employment in the country. The British economy does not however depend entirely on this and it may decline in the next two to three decades. Other industries are coming up especially the service sectors with a view to balance payments situation in regard to treasury bills. (Office for National Statistics, UK 2006) Exchange rates Exchange rates in the UK have been changing since the year 1999 and today, the exchange rates are way below the 0. 54 mark. This can be attributed to the changing events of the decade and globalization (Bailey, 1999). The following table shows the changing exchange rates-over the counter- for the Sterling pound, Euros and the dollars. Year ? /USD USD/? ?/EUR EUR/? 2005 ? 0. 5500 $1. 821 ? 0. 6842 â‚ ¬1. 463 2006 ? 0. 5426 $1. 859 ? 0. 6815 â‚ ¬1. 467 Source: Office for National Statistics, UK 2006 Trade restrictions 1. Embargoes Embargoes are political trade tools that are put by trading bodies or governments in order to support a justified peace process. Trade embargoes in the UK has been used to support either the EU or the UN in order to deny individuals the opportunity to use money from international trade in buying weapons of mass destruction. This will be used for the purpose of containing retrogressive countries the financial capability to use trading activities for insecurity purposes. Such countries which have been blacklisted by the UK include; Iraq, Iran, Sudan, Zimbabwe etc. (Neid, 1988) 2. Quotas Tradable quotas are policy instruments aimed at restraining trade of certain commodities in the UK. Limiting the production or importation of non-environmentally friendly automobiles can reduce taking for example greenhouse gases. The UK has been able to meet its environmental objective through the implementation of quotas systems. (Neid, 1988) 3. Import taxes Import taxes are designed to protect local industries from international competitors who may be financially stronger than them. This strategy has been utilized by the UK in order to protect vulnerable sectors of its economy. Although it allows importation of textiles, the country charges high import taxes on all unprocessed hides and skins to protect its local industries. (Lawrence, 2002) 4. Tariffs Trade tariffs are the main hindrance to trading between two countries. These trade tariffs depend with policies formulated by individual countries concerning how the countries wish to conduct its trading. The United Kingdom has however developed a smooth and business free environment for most countries in Africa, Asia and the U. S. this has made investment more conducive for many multinational firms. (Neid, 1988) 5. Licensing Licensing is one of the techniques used to promote international trading. The UK has been able to utilize licensing agreements with other international firms to boost its trading. The country has also been able to license many international firms to operate in the country as a means of encouraging investments. (Lawrence, 2002) 6. Custom duties Custom duties are one of the main sources misunderstandings between countries due to the fact that they favor the home-based industries. Custom duties are usually employed by the government top curb influx of external products into the country. The UK has been able to utilize this remedy effectively especially in sectors which the government feels threatened such as energy, education, transport and manufacturing. (Bailey, 1999) Extend of economic activity not included in cash income transactions The extent, to which other economic activities which does not include cash income transactions, is not wide and especially that the economy is entirely dependent on two core industries. I. e. service and manufacturing. The rest which may not involve cash transactions. (Neid, 1988) Counter trades The UK has used counter trade strategies to improve their international presence in almost all its sectors. Counter trades function effectively when the trading countries agree on issues such as import duties, taxes and tariffs (Bailey, 1999). Labour force The UK labor force currently stands at 31 million going by 2007 statistics. Majority of this labor force are concentrated in the private sector and some of them in the public sector. Most of the employees in sectors such as the health sector may have been imported to the country to serve as nurse this has been caused by the worldwide shortage of the same. The unemployment rates in UK currently stand at 5. 4 %( 2007 estimates) most of whom are fresh graduates and the poorly educated young men and women in the country. (Office for National Statistics, UK 2006) Inflation rates The inflation rate for the UK as at 31st December, 2006, was 2. 3% and a poverty rate of 17 % by then. The inflation however, fluctuates depending on the economic situation of the country (Office for National Statistics, UK 2006) Developments in science and technology UK is one of the European counties which have invested heavily on innovation and technology. Almost all sectors of its economy are coping up with changes in technology. The country is using technology as means of out-competing its competitors in the manufacturing and service sectors. That is why most firms in the country are investing in research and development. The government has been able to utilize 5. 4 % of the GNP on R&D in the last fiscal year ending March 31, 2007. The technological skills of the current labor force in the UK can be rated good depending on which sector one is referring to. With reasonable levels of literacy (79% at the moment), the country’s population can improve. (Office for National Statistics, UK 2006) Conclusion There is a team of science and technology promoters under the department of UK Trade and Investment whose role is to help firms realize their international potential through partnership support and knowledge transfer. It mainly enhances competitiveness of companies trading in the UK and also those involved in international trade. The UK has been able to attract high quality foreign direct investments through this department which offers guidance and direction including available opportunities and marketing. References Bailey, M.(1999): Exchange rate trends and trade performance; Waldwick Archive, Vol 12 Ferguson, N (2004): Empire, The rise and demise of the British world order and the lessons for global investments. Basic Books, Oxford, p 90 Lawrence H. (2002): Exchange rate between the United States dollar and forty other countries and its effects on investment, Macmillan, Washington. P 34-40 Neid H. (1988): Multinational investment strategies in British Isles, Routlegde, UK. P 122-131 Office for National Statistics (UK 2006): The Official Yearbook of the United Kingdom of Great Britain and Northern Ireland. P 45-57

Vietnam War A Side Of View - 988 Words

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