Global Human Resource Managemenet Stratgy Assignment

Global Human Resource Managemenet Stratgy - Assignment Example The report ends with the recommendations that are very important for the new venture to incorporate in its work plan. The report aims at delivering a recommendation report to Human Resource director of Hilton Hotels Corporation. It highlights the internal evaluation of strategies adopted by Hilton Hotels Corporation and examines requirements of a new joint venture that is planned in China. In China, Hilton Group has already established their hotels as Hilton China, but they have concentrated in entering into a joint venture with Swire Hotels in Mainland China. Thus, the report elaborates human resource requirements for the new joint venture in China. Hospitality industry includes wide range of services like event planning, lodging, transportation and hotels. The growth in revenue in this particular sector depends on the availability of the disposable income and leisure time of the individuals. The global hospitality industry has encountered growth for the last five years due to the increase in demand for different services. The following graph indicates the trend of demand and supply in this particular industry for the last five years. From the above figure it can be depicted that the demand for the hospitality services were much less than that of the supply of the same. The reason behind this difference in demand and supply can be stated as the decrease in disposable income of the individual globally. Disposable income is the main driver to boost revenue in this industry. The leisure time also plays an important role for governing the increase or decrease in demand for services in this sector; as with the increase in competition worldwide people have become more conscious regarding their job and thus they do not get much time to spend with their family. For example, if the hotel sector is taken into account it can be stated that with the rise in price of the hotel rooms the demand

THE LEGAL ENVIRONMENT OF BUSINESS Essay Example | Topics and Well Written Essays - 1250 words - 2

THE LEGAL ENVIRONMENT OF BUSINESS - Essay Example It made more than 60 acquisitions to become the second biggest long distance company in the U.S. LDDS later became a public company in 1989 after its purchase of advantage companies. WorldCom’s plan was to bring in economies of scale that were desperately needed to become successful in the flourishing telecom market at the time (Monks and Nell 577) (Fernando 218). LDDS then changed its name in May 1995, to WorldCom Inc. Nearly every one of WorldCom’s possessions were paid for by its stock. At first WorldCom was in the voice telephony business, however, novel technology as well as growing competition decreased revenues in addition to profits of the business. WorldCom consequently sought to broaden its horizons in mid-1990 by buying companies that facilitated it venture into data, satellite communications as well as webhosting market among others. Nevertheless, these businesses experienced their own slow down then making it difficult for WorldCom to meet its earnings fore cast as well as its own revenue (Monks and Nell 577) (Fernando 218). Besides being seventy percent better than Enron in terms of assets, WorldCom Inc. was also the second biggest telecommunications company in the United States. ... In June 25, 2002; WorldCom announced that it had deliberately furthermore inappropriately inflated its cash flow by $ 3.8 billion (Brooks and Paul 122) (Fernando 218). The declaration followed the resignation of WorldCom CEO Bernard Ebbers in the midst of questions of his personal loans from WorldCom as we as the launch of SEC’s investigations into WorldCom’s accounting. WorldCom later filed for liquidation protection in July, 2002. A year after rising from bankruptcy protection WorldCom amended its name from MCI to Verizon (Monks and Nell 576). The major personalities embroiled in accounting manipulations at WorldCom include: Bernard J. Ebbers (CEO), Scott D. Sullivan (CFO), Burford Yates (Director general accounting), David F. Myers (Controller), Betty, L. Vinson (Director of management reporting) and Troy M. Normand (Director of legal entity accounting) (Brooks and Paul 122). WorldCom’s financial meltdown took place at the center of the uproar emanating from e vents at the time that can be enumerated as follows: (a) the looming depression of stock markets at the time. (b) Enron’s liquidation in December 2, 2001 as well as the linked senate and congress hearings; plus the fifth amendment by Enron executives. (c) Petitions by president Bush as well as business leaders for reinstatement of trust in addition to reliability to financial markets, reporting as well as corporate governance. (d) Receptive introduction of governance guide lines by Stock and Exchange Commission (SEC). (e) Deliberations by U.S senate as well as congress of separate bills to enhance accountability in corporate governance. (f) Condemnation of Arthur Andersen, auditor of both