Resistance To Change A Critical Analysis Management Essay

Resistance To Change A Critical Analysis Management Essay Now a days organizations are required to make changes for their survive. It is very important to response quickly to the modern technological advancement and competition to internal and external levels (Edmonds, 2011). So change is a everyday experience in private and governmental organization for its development. The purpose of this study is to analyse the issue of managing organizational change by various approaches. The paper will argue concisely on the factors of resistance to change and how the resistance is handled for successful implementation of a change plan through reviewing relevant literature on the topic. It will further examine the scope of effective management of organisational change process. In this paper, the analysis into effective management of resistance to organisational change is achieved through three main sections. Firstly, change is defined in the light of organisational development. Secondly, factors influencing change and resistance to change are discussed analytically in two consecutive sections. Finally, it discusses management of resistance to change elaborately before concluding the motion. What is change Change is defined as any alteration of the status quo (Bartol and Martin, 1994;199). Organizational change may be defined as new ways of organizing and workingà ¢Ã¢â€š ¬Ã‚ ¦.. (Dawson, 2003: 11 ). Breu and Benwell (1999), Ragsdell (2000) as well as Bamford and Forrester (2003), define organisational change as the process of moving an organisation from some present status to new status whether it is planned or unplanned. Organizational change is a form of difference from its long term old position to introduce a new idea and action for better performance and adjustment of new environment (Schalk et al.,1998). From different perspectives , we can observe different types of changes but in generally organisational changes can be classifieds into two types- incremental and radical (Ragsdell, 2000; McAdam, 2003; Milling Zimmermann, 2010). Literature argues that the incremental change is a small scale change on its present structure and functions which is continuous, on the other hand radical change involves a large-scale basic change (McAdam, 2003; Cunha, et al, 2003; Romanelli Tushman, 1994). Furthermore, Beugelsdijk et al (2002) argue that, organisational change process initially begins with radical change and follow the incremental change that creates a prospect or a threat. In contrast, Del Val and Fuentes (2003) state that change is a general procedure of response to organisational settings because real changes are not only incremental or transformational but also a mixture of both. However Bamford and Forrester (2003) have further classified organisational change as planned and emergents.The planned approach organisational change highlights the different status which an organisation will have to shift from an unacceptable position to recognized desired position (Eldrod II and Tippett, 2002). The emergent approach change suggests that it is an unpredictable and undesirable continuous process of adjustment to changing circumstances (Burnes, 1996, 2004; Dawson, 1994). But uncertainty of circumstances create emergent approach more significant than the planned approach (Bamford and Forrester, 2003). So, it is import to any organisation to identify the requirements for its prospects, and how to deal with the required changes and it is the unseparable strategy of an organization (Burnes, 2004; Rieley and Clarkson, 2001).Managerial proficiency is very much needed for successful change (Senior, 2002). Although for the existence and effective competition successful management of change is highly required (Luecke, 2003; Okumus and Hemmington, 1998). Factors Influencing Change: Hughes (2006) argues that, different factors can influence organisational changes, from the effect of internal control, to external rolls in consumer behaviour, or changing the business settings. The most common reasons are: Legislation, incorporation or attainment, competitive market, world economy, Structural change, technological advancement and Strategic re-organisation. Moreover, Haikonen et al (2004) argue that different important internal and external factors which influence change as policy, structure, control system, organisational culture, and power distribution. Moreover, Saka (2003) state that the external factors as national or international rules and regulations influence the organization to accept new strategies to survive in changed situation. Furthermore, many other factors related to market competition, economic growth, and living standard also oblige organisation to commence change programmes for update and manage the external forces (Beugelsdijk, et al, 2002; Breu Benwell, 1999; Carr Hancock, 2006). Consequently, the technological advancement create internal and external demands to generate the capabilities of organizations and assess their strategies regularly (Harris Wegg-Prosser, 2007; Ragsdell, 2000; Shaft, et al, 2008). Finally, Eisenbach et al (1999) also recognized different factors that compel change such as innovation, new technology, workforce, productivity and working quality. Similarly, McAdam (2003) and Mukherji and Mukherji (1998) emphasize that availability of skilled employees, changing customer behavior, free flow of information and cultural change make very impact on organization for modification on their activities and compel it to readjust or large scale change for transforming from deadlock to effectiveness. Finally, internal change factors like leadership, organizational culture, employee relationship, workload, reward system, internal politics, and communication system compel the organization to take up change strategy (Bhatnagar, et al, 2010; Potter, 2001; Van Marrewijk, et al, 2010; Young, 1999).On the whole, Breu and Benwell (1999) as well as Rees and Hassard (2010) emphasized the development of capabilities of managers to evaluate the situation exactly from different factors to effective management of resistance to change program. Resistance to Change Resistance is a phenomenon which affect the change process by slowing down its starting, obstructing its accomplishment and rising its costs(Ansoff, 1990; Del Val Fuentes, 2003; Young, 1999). In contrast, resistance is a manner that tries to maintain the status quo, so it is comparable to inertia which tries to avoid change (Maurer, 1996; Rumelt, 1995). Similarly, Jansen (1996), Potter (2001) as well as Romanelli and Tushman (1994) argue that organisational change permeates resistance from the persons as their calm sector are influenced by creating stress, insecurity and uncertainty. Moreover, Ford et al (2002) as well as Reissner (2010) support that resistance comes about since a change program threatens existing status, or causes fear of supposed consequences like trouble in personal security and apprehension about new capability and skills to perform in the changed surroundings.On the other hand, resistance by workforce may be seen as a general part of any change process and in t his manner a valuable source of knowledge and useful in learning how to manage successful change process (Antonacopoulou Gabriel, 2001; Bhatnagar, et al, 2010; Bovey Hede, 2001). Furthermore, Antonacopoulou and Gabriel (2001) and Lamb and Cox (1999) argue that unusual community will resist any change program for various reasons including misunderstanding, inconvenience, negative rumor, economic proposition, low tolerance for change and fear of the unknown. However, the observation of annoyance in long standing custom associated with change initiatives finally contribute in the appearance of resistance, mainly from middle managers who resist for the reason that of the fear of threat to their current position and supremacy (Marjanovic, 2000; Ragsdell, 2000; Saka, 2000). Moreover, in manipulative business environment, where major focus is on productivity and centralisation, occurrences higher rate of resistance than manipulative business units having a more open culture, giving freedom to explore new capacities and technologies (Mirow, et al, 2008; Valle, 2002).Accordingly, Lamb and Cox (1999) and Trader-Leigh (2002) indicate that dispute of resistance in public sector is much higher than that of private sector.However, Bovey and Hede (2001) as well as Del Val and Fuentes (2003) discover that when change principles and organizational principles are usually different then the workers show resistance to change while individual anxiety, ineffective management, failure precedent, little inspiration, insufficient tactical vision and pessimism are several sources of resistant. So, if the ground of change is not well planned and competently managed then the employees may prevent the change initiatives and they will apply protection policy to resist because of apprehension that they will be oppressed by others (Bovey Hede, 2001; Perren Megginson, 1996). Nevertheless, Jones et al (2008) argue that employees do not generally resist the change, but rather theoretical undesirable results of change or the process of execution the change.For that reason, all managers are necessary to give appropriate concentration on human and socio-cultural issues to obtain a distinct policy for successful implementation of change.(Diefenbach, 2007; Lamb Cox, 1999). How to manage Resistance Resistance to change is an important matter in change management and participatory approach is the best way to manage resistance for successful change(Pardo-del-Val et al., 2o12). Potter (2001) and Ragsdell (2000) support that resistance to organisational change have to be observed as a prospect and preparing people for change as well as permitting them to vigorously participate in the change process. Furthermore, Conner (1998) affirms that the negative effects of resistance occurred from major changes can be minimize by open discution. Moreover Judson (1991) asserts that effective change can be committed and resistance can be reduce by commitment and participation of employees. In addition, contemporary managers required to examine and categorize all the stakeholders as change worker, impartial, conservatives or resistor as per their function in resistance to change so as to apply obligatory approach upon the definite form of people so that they feel like accommodating the change pr ogram willingly (Chrusciel Field, 2006; Lamb Cox, 1999). Moreover, it is essential to engage people in all stages of the procedure for successful completion of change where effective communication of change objectives can play one of the most important roles (Becker, 2010; Beugelsdijk, et al, 2002; Frahm Brown, 2007; Lamb Cox, 1999). Accordingly, Potter (2001) as well as Van Hoek et al (2010) suggests that for managing resistance to change successfully, organisations must build up the capability to predict changes and working approaches to the changes and thereby engage the employees to face the challenges sincerely with complete preparation. Similarly, Caldwell (2003) and Macadam (1996) propose that smooth running of organization managers should be open for involvement of employees at every steps of decision making process and productivity. Moreover, usually resistance happens as a result of misinterpretation among peoples and hence, in each change program it is essential that everyone concerned realizes the reason following the change from upper level to the lower level where training and cooperation may speed up the procedure (Beugelsdijk, et al, 2002; Bovey Hede, 2001; Johnson, 2004; Taylor, 1999). In addition, at the moment of crisis and ambiguity people require results, accomplishments and successful communication which will assist reduce anxiety and eventually produce enthusiasm for change amongst the employees (Hill Collins, 2000a; Potter, 2001). Consequently, the new public management emphasizes new type of policies which presume a flexible, open and more creative structure and therefore proactively illustrative targets, setting superior examples and creating exciting position might be regarded as a number of core leadership capabilities essential for routing change (Beugelsdijk, et al, 2002; Chrusciel Field, 2006; Harris Wegg-Prosser, 2007). Moreover, Aladwani (2001) rationalizes that opening human abilities of the workers by permitting them to use their intelligence being innovative at work takes place to be important where the function of managers have to be renamed from manager to trainer as to donate continuously on self-confidence building all over the business. Furthermore, alongside the background of rapidly growing technological improvement and deregulation since the early 1990s, ritual approach can no longer arrange the modern perception of shocking ambiguity and insistent change relatively dispersed organisations are probable to authorize the employees (Caldwell (2003; Harris Wegg-Prosser, 2007). In addition, Andrews et al (2008) and Caldwell (2003) have the same opinion with Frahm and Brown (2007) that not like the conventional top-down bureaucratic systems; the present managers must receive bottom-up participatory strategy by discussing with stakeholders. Caldwell (2003) more recommends that change managers should uphold possession of the change approach along with the stakeholders by connecting them in the process, who distinguish the authenticity of the business and it is usually they who grasp answer key to the problems. Lastly, as contextualization is the main element of any societal and organisational change, in the twenty-first century circumstance, the status quo is not a suitable preference and organisations must get slant and vigorous for the modern world of digital convergence (Carr Hancock, 2006; Harris Wegg-Prosser, 2007; Milling Zimmermann, 2010). Moreover, Bamford and Forrester (2003), Diefenbach (2007) and Eisenbach et al (1999) consent that in the growing approach to managing change, elder managers transform themselves from administrator to facilitator and the major accountability of execution vest on the middle managers. Also, Diefenbach (2007) more highlights that middle managers should cooperate with peers, divisions, consumers, dealers and also with the senior managements as if they are the key player of organisational change programs. Furthermore, Bamford and Forrester (2003) as well as Diefenbach (2007) consider Lewinà ¢Ã¢â€š ¬Ã… ¸s (1958) three step model of freezing, unfreezing and refreezing, have supported that prior to effective implementation of any new manners, the old one has to be untrained.

Jwellery Industry in India

THE JEWEL INDUSTRY OF INDIA WITH SPECIAL REFERENCE TO GITANJALI INTRODUCTION INDIAN JEWELLERY INDUSTRY India is a leading player in the global gems and jewellery market. The gems and jewellery industry occupies an important position in the Indian economy. It is a leading foreign exchange earner, as well as one of the fastest growing industries in the country. The two major segments of the sector in India are gold jewellery and diamonds. Gold jewellery forms around 80 per cent of the Indian jewellery market, with the balance comprising fabricated studded jewellery that includes diamond studded as well as gemstone studded jewellery. The Indian gems and jewellery industry is competitive in the world market due to its low cost of production and the availability of skilled labour. In addition, the industry has set up a worldwide distribution network, of more than 3,000offices for the promotion and marketing of Indian diamonds. The sector is expected to register a compound annual growth of (CAGR) of 13% during 2011-13, according to a report â€Å"Indian Gems and Jwellery Market Forecast 2013†. (By research firm RNCOS). MICHAEL PORTER’S 5 FORCE MODEL FOR JEWELLERY INDUSTRY INTER- FIRM RIVALRY- HIGH There are two types of rivalry. 1) Inside India & (2) Outside India. †¢Large presence of unorganized sector. 0. 2 Million Gold jewellers and over 8,000 Diamond jewellers †¢International rivals Such as, China †¢Threat from producing nation like S. A. & Russia. BARGAINING POWER OF SUPPLIERS – MEDIUM In jewellery industry the suppliers are S. A. , UAE, Australia, US, Congo, Botswana, Russia , DTC. †¢Few Alternatives of cutting & polishing. †¢Skilled labour †¢Bargaining power of India is enhanced because India is largest consumer of gold jewellery. BARGAING POWER OF BUYERS- LOW Divided in two types 1. Domestic buyers & . Foreign buyers †¢As investment (Demand increase) †¢Bargaining power of Indian exporter is high because Majority of the world's rough diamond production is cut and polished in India THREAT OF SUBSITUTES- LOW Substitutes are Real assets, Stock market, ; Bank deposits ; Mutual fund investment and other types of jewellery like imitation Jewellery, bagasra jewellery, stone jewellery etc. †¢Second preferred investment behind bank deposits †¢Status and standard of living increase so demand is increasing at High rate BARRIERS TO ENTRY- LOW TO MEDIUM * Low capital requirement Government subsidy * EXIM policy ; government’s rules ; regulations are high * Skilled manpower is essential * Advanced technology required. GITANJ ALI | | | | | Vision To emerge as a jeweller of choice, in terms of quality, style and surpass all levels of customer satisfaction. Mission To assimilate the expertise of trained personnel and state-of the art machinery, so as to nothing, but the best. Values Are Integrity, Solidarity, Credibility and Perfection. The Gitanjali Group which was established in 1966, and is one of the earliest diamond houses in India. By 1968, it was accorded a ‘Sight† by the Diamond Trading Company Ltd. London and Gitanjali became one of the first Sight holders in India. It has received over 50 National and Council awards from the Ministry of Commerce for outstanding exports. It is one of the leading diamond exporting companies in India. Presently, Gitanjali Group has highly modernized diamond cutting and polishing facilities in India. The group strengthens its core business of loose diamonds with international association. Internationally, business patterns of the diamond industry. The Group has positioned itself to manufacture and promote diamonds as well as studded jewellery right up to the retail level. Gitanjali Group one of the leading integrated diamond ; Jewellery manufactures ; Retailers in India with turnover of Rs 3467 Cores. The Company has strong brands such as: * ASMI Asmi was launched in 2002 by the Diamond Trading Corporation. All the years the brand has been endorsed by various actresses such as Kajol, Parizad Zorabian ; Mandira Bedi. All these women epitomize the different strengths that an Asmi woman is identified with fire – spirited, goal oriented ; with an inner fire. NAKSHATRA Nakshatra is one of India’s most reputed diamond jewellery brands, achieving an iconic status within three years of its launch in 2000. Today, it is a leading diamond jewellery brand, patronized by women of fashion in almost all segments of society. * SANGINI Sangini is a high profile brand launched by the Diamond Trading Company, and Spectrum Jewellery , a joint venture between the Gitanjali Group and Sanghavi Exports, promotes the brand in India. * DIYA DIYA is the distilled essence of the Gitanjali Group’s four-decade long engagement with jewellery. It is the first B2B diamond jewellery brand for manufacturers and the trade. It offers exquisite designs, selected after a rigorous India-wide survey of 6,300 women – some of which are already acknowledged classics. * BEZEL Bezel is a watch store from the stable of the Gitanjali group products includes watches and writing instruments. Brand mix will include GLL brands ; brands from outside. * WORLD OF SILVER It has been conceptualized for offering silver gifts in various product categories like Home decor, Office Utility, Bar Sets, Table ware, Devotional Collections and Artefacts. It range of International Brands , Greggio from Italy and Frazer ; Haws from UK, offering best of the brand value and perceived value   while making gifting a lifestyle statement. It caters to the high end, up market ; value conscious niche cliental. * GILI Gili’s brand identity is to ‘Embrace the Gili way of easy elegance’. The Brand characteristics are Stylish, Contemporary, Extrovert, Enthusiastic and Self-made. And its Design concept is easy to wear, highly contemporary and trendy designs * D’DAMAS D'damas India Jewellery is a joint venture between Gitanjali Group and Dubai-based Damas based in  Mumbai. It has a presence in 159 towns and cities across  India. It main area of business is manufacturing and marketing of gold, diamond, silver, platinum branded jewellery's in  India. It has six sub brands – Lamhe, Glitterati, Vivaaha, DER, Solitaire and Saumya. It is also only international brand in  India. D'Damas India also used as manufacturing base and will export jewelleries to markets like Saudi Arabia, Japan, US and Europe markets. * MAYA GOLD MAYA is the brand from the Gitanjali Gold Collection specifically aimed at the Indian wedding market and similar festivities and traditional occasions for gift-giving, especially from parents to daughters. Lucera, Calgaro, Rivaaz, Kashvi, Stefan Hafner, Ezee Diamonds, Aakanksha, Rosato, Shuddhi, Parineeta, Sagaee and Menz are some other brands which sell its products in India through its vast network of 1,250 outlets including outlets in host stores. In fact, five of the top six brands in the Indian market are owned or managed by Gitanjali. These brands manifest the significance of the group in the Indian Jewellery retailing market. Additionally, the Company operates 143 retail Jewellery stores located across the United States through the acquisitions of Samuel Jewellers and Roger Jewellers. Activities undertaken by Gitanjali:- * Sourcing and Trading of Rough Diamonds * Diamond Manufacturing * Distribution and Trading of Polished & Cut Diamonds * Jewellery Manufacturing and Exports * Jewellery Sourcing (Local & International Markets) * Manufacturing Branded Jewellery * Retailing Branded Jewellery OBJECTIVES * The main objective of this term paper is to understand the value chain and its strategic distribution presence of GITANJALI in India. * To conduct a market survey in order to know the 1) Consumer perception about jewellery. 2) Brand awareness of various brands in jewellery market. 3) Parameters which the consumer considers while buying jewellery. * To critically examine the company and the environment by conducting the SWOT and PORTER’S 5 FORCE ANALYSIS. * To analyze and evaluate the financial performance of GITANJALI over the years. To highlight the CSR initiatives and the CORPORATE GOVERNANCE taken up by GITANJALI to uplift the society. * To study about the aggressive retail strategy and its growing focus on International and Domestic Reatail. SWOT ANALYSIS OF GITANJALI STRENGHTS †¢Large integrated diamond & jewellery player and having an international presence. †¢Pioneers of branded jewellery in India. †¢Strong marketing & distribution network. S trong retail presence in India and in U. S. 112 distributors and 1246 outlets in India and 143 outlets in U. S. Strong brand equity and broad product range Such as, Gili, Asmi, Nakshatra, Sangini, D’damas, Vivaaha, Maya, Giantti, Desire, Samuels etc. †¢Visionary leadership (Acquiring Nakshatra, Samuels, Rogers etc. ) †¢Expanding manufacturing capabilities in Mumbai and at special economic zone in Surat to address increasing demand. †¢Net Worth is 3,460. 37 million Rs. So we can say that it is financially very strong company. †¢Sight holder status with DTC through a promoter group company. †¢Highly skilled, qualified and motivated employee. WEAKNESSES †¢There may be conflicts of interest between them and certain of their Promoter group companies. As the major raw material requirements need to be imported, companies normally stock huge quantities of inventory resulting high inventory carrying costs. †¢Technology is less improved compared to Ch ina and Thailand’s company. OPPORTUNITIES †¢New markets in Europe & Latin America. †¢Growing demand in South Asian & Far East countries. †¢Industry moving from a phase of consolidation. †¢Expansion possibilities in lifestyle and luxury products in India like watches, leather goods, Platinum jewellery because increasing disposable income of people. THREATS †¢International Competition:-China, Sri Lanka and Thailand’s entry in small diamond jewellery. †¢Increase in the price of Gold & Diamonds. †¢Other local competitors. According to the data 97% jewellery sales are by family jewellers. †¢Threat from producing nation like S. A. & Russia. VALUE CHAIN OF GITANJALI * Sourcing and Trading of Rough Diamonds * Diamond Manufacturing * Distribution and Trading of Polished & Cut Diamonds * Jewellery Manufacturing and Exports * Jewellery Sourcing (Local & International Markets) Manufacturing Branded Jewellery * Retailing Branded Jewellery DISTRIBUTION AND RETAIL STRATEGY OF GITANJALI GITANJALI RETAIL BUSINESS * Gitanjali has strong retail presence in the world’s largest markets for jewellery. Retail business is a major Contributor in Gitanjali’s revenue. Gitanjali has over 2000 plus retail outlet across India and in the process of expansion in tier II and III cities to cater to new segment of the cu stomer. * USA is a largest jewellery consuming country and 45% of worldwide diamond jewellery sales are made in the United States. In FY 2007-08, Gitanjali made a strategic acquisition in USA, including Samuels and Rogers, and now has about 137 stores in Centre and across USA, being expanded to 200 stores in the near future. * Samuels and Rogers of Gitanjali are the 8th largest branded jewellery retail chain in US. * Gitanjali’s integrated supply chain business model has given an advantage to survive and post profit despite of US recession. * Gitanjali retail business has spread through all channels and in all geographies, across all the market segments * Net Profit has gone up because of shift in market from wholesale to retail. | | * | RETAIL EXPANSION STRATEGY IN INDIA * The Changing Socio – economic factors in India created a clear opportunity in Lifestyle and Luxury markets in India. These changes in retail environment have created opportunity for establishment of modern retail formats. Keeping this in view Gitanjali has embarked on an aggressive domestic retail expansion plan. * Gitanjaliâ₠¬â„¢s strategy is to increase the market share of various brands and its positioning in the market. Strategy is to generate demand for branded diamond jewellery in the future. Flagship product brands of the company are able to convert themselves into retail brands. * The group has introduced many promising brands to its bouquet. The new collection includes World of Solitaire, World of Silver, ME Solitaire, Maya, Gitanjali Menz, Maya Bridal, Bezel and many more. | * Gitanjali notable innovation has been its dramatic breakthrough from the confines of traditional distribution of jewellery and launching of mass distribution through variety of channels. By passing the old world of neighborhoods proprietary jewellery stores, it brought its new world branded jewellery into the world of super stores and department stores, dedicated jewellery marts and chain stores supported by international certifications of scientifically tested purity and authenticity. * Gitanjali is even marketing its br anded jewellery directly by mail order catalogue Gitanjali placed its jewellery brands right into the context of the new consumer’s shopping environment of new and global branded personal goods and accessories. Gitanjali supported its brand with high-visibility positional branding in both mass and local up-market media. With this multi – tiered mobilization of formats, Gitanjali is well placed to advance and realize its vision of global leadership. GITANJALI FINANCIAL PERFORMANCE The Company is making conscientious efforts in addressing the large market opportunities that exist in the Diamond Segment both in India and abroad. India, China, Israel and Belgium are the leading players in the diamond cutting and polishing industry. India accounts for 60% of the global polished diamonds in value terms, 80% in caratage and 90% in pieces. TURNOVERS & PROFITS During the end of the financial year March 31, 2009 the sales and other income increased from 26,549. 08 Million to Rs. 26,940. 64 Million. The net profit before tax stood at Rs. 1,307. 20 million as against Rs. 1,486. 75 million in the previous year. The net profit after tax stood at Rs. 1,267. 69 million as against Rs. 1,381. 55 million in the previous year. FINANCIAL REVIEW Gitanjali Gems consolidated results of operations for the year ended March 31, 2009 include business and operations of the various subsidiaries/joint ventures. The company has achieved overall sales growth for the year ended March 31, 2009 of about 5% compared to last year. The gross revenue from diamond segment has decreased by 10% whereas the gross revenue from jewellery segment has substantially increased by 24% and thus the ratio of diamond and jewellery in the sales mix accordingly has improved more favourably towards jewellery from 55:45 last year to 47:53 for the year ended March 31, 2009. HIGHLIGHTS FOR THE YEAR 2010| * | * Jewellery Sales turnover increased by 60% to 1,098 cr. in FY10| * | * EBIDTA gone up by 44% to 102 cr. in FY10| * | * Operating Profit registered a growth of 51%, stood at 91 cr. | * | * PAT of FY10 stood at 41 cr. registering an increase of 39%| * | * Gems and Jewellery Sales volume grown to 1812 cr. reported a growth of 63%| NINE MONTHS FY10 vs. NINE MON THS  FY09 * Jewellery Sales turnover increased by  43%  to  Rs. 2703 cr. as compared to  Rs. 892 cr. in nine months period FY09 * EBIDTA gone up by  37%  to  Rs. 307 cr. from  Rs. 223 cr. in nine months period FY09 * PAT of nine months period FY10 stood at  Rs. 139 cr. as compared to Rs 120 cr. in nine months period FY09 registering an increase of  16% * Operating Profit of nine months period FY10 stood at  Rs. 283 cr. as compared to  Rs 201 cr. in nine months period FY09, registering an increase of  41% GITANJALI CORPORATE SOCIAL RESPONSIBILTY (CSR) INITIATIVES AND CORPORATE GOVERNANCE HUMAN RESOURCES The Company believes investing in people through creating an environment where people are valued as individuals and are given equal opportunities for achieving professional and personal goals. The Company’s focus on development of Special Economic Zones includes huge employment opportunities and the Company already initiated through setting up training centre in SEZ Hyderabad which has a capacity to train more than 1,500 workers in diamond and jewellery manufacturing. CORPORATE GOVERNANCE The Company’s philosophy of Corporate Governance is based on preserving core values and ethical business conduct, commitment to maximize shareholder alue on a continuous basis while looking after the welfare of all the stakeholders which is primary responsibility of the Board of Directors, Management and employees. The Compliance of clause 49 of the listing agreement has undoubtedly raised the standard of Corporate Governance in India. However, regulatory directives and enforcement wil l not be sufficient to create a best in class transparent organisation. The corporate governance philosophy is based on the following principles: * Satisfy the spirit of the law and not just the letter of the law. Be transparent and maintain a high degree of disclosure levels. * Continuously innovate and adapt the Corporate Governance * Practices so as to meet new demands and tap new opportunities. * Comply with the laws in all the countries in which we operate. * Management is the trustee of the shareholders’ capital and not the owner. CORPORATE SOCIAL RESPONSIBILITY The CSR initiative under the name Sambhav brings together the different social programs that Gitanjali has been associated with over the years. These are programs in the fields of education, health, providing employment to PWDs. It focuses on integrating all of them and other different initiatives like Saksham, Saakshar, Sujyot and Sneh. The focus will be both on strengthening the existing programs as well as developing new ones too. It further aims to take this CSR initiative to new heights and is in the process of channelizing all their strengths and efforts to form a strong CSR team within the company to encourage and promote a wide range of social welfare activities internally or in partnering with other NGOs and government bodies. SOME ACTIVITIES UNDERTAKEN BY GITANJALI Rose day celebration for cancer patients | Gitanjali Gems Limited supported Cancer Patients Aid Association (CPAA)   in its celebration of  The rose day  Ã¢â‚¬â€œ a  day to make a difference in the lives of cancer patients. CPAA reaches out to cancer patients through medicines, counselling, research and rehabilitation. | | * Special rakhies by special children Gitanjali gems continues to support to ADAPT (spastic society) by orga nizing a sale booth of their products at Gitanjali gems Marol office  on 11th Aug 2011,  on the eve of Rakshabandhan. We repeated the achievements of last year by motivating and appreciating the efforts of these specially abled children by having sale of products close to  Rs 10000/-. The staff was extremely enthusiastic and extended their support through 100% participation. * Presentation on ‘Diabetes awareness and healthy life style’ Today Diabetes is one of the fastest growing lifestyle disease, with Indians   being the largest population affected by it. A presentation on diabetes awareness and healthy life style was organized on 25th July 2011 at  Transmission house ,Marol , for the benefit of the employees . It indicated the causes , symptoms ,prevention and cure for diabetes. A full house attendance showed the concern most of us have about this booming disease. | * Lecture on ‘The damaging effects of tobacco’ at Gemplus| | | As a part of SAMBHAV , CSR initiative ,  Ã¢â‚¬Å"The Damaging Effects of Tobacco† were highlighted at a presentation made under the Tobacco Intervention Initiative (TII) program of the Indian Dental Association (IDA) for the staff and workers of   Gem plus ,Gitanjali Gems, Mumbai   on 11th June 2011 by Miss. Tejal Rajgor. Tobacco leads to heart and blood vessel disease, heart attack, chest pain, sudden cardiac death, stroke, peripheral vascular disease (Gangrene of legs) plus it is also   responsible for cancer of various parts of the body like mouth, throat, lungs, stomach, kidney, bladder etc. Gitanjali Gem’s staff members felt that there was an urgent need for more prohibition of tobacco usage and this won’t happen until there is a public outcry, so meetings like these are designed to generate awareness in the hope of making the come community forward to request change.

Marijuana Prohibition Has Failed United States - 2670 Words

Marijuana Prohibition Has Failed United States In today’s society, criminalizing the use of marijuana has proved to be as effective as prohibition ended the consumption of alcohol in 1920. In retrospect, many people find ways in which to illegally obtain the drug. This drug has infiltrated our nation to the point that many citizens find the drug readily available in society and according to the National Institute of Drug Abuse, 34.8% of 12th graders admitted to abusing the drug in the year prior to the survey (NIDA). In today’s culture, the percentage of young people that use marijuana is still on the rise from year to year. Yet still surprisingly, legalization of marijuana continues to bring controversy to the public. The public†¦show more content†¦Other than the fact that this amendment would hereby only affect the people in the state of Colorado, if the government were to enact this federally across the whole nation, this could be the best policy to enact for a stimulated economy. According to the amendment, this act would establish a system in which marijuana is regulated and taxed similarly to alcohol, makes the personal use, possession, and limited home-growing installations of marijuana legal for adults of age 21 and older, and allows for the cultivation, processing and sale of industrial hemp (Amendment 64). In turn, Amendment 64 would remove all legal possession charges up to 1 ounce and allow for the cultivation of up to 6 home-grown plants but also allow manufacturing jobs of industrial hemp arise in the American economy and bring money to spend into a dying economy. Also according to the Act, the general assembly will be required to enact an excise tax of up to 15 percent on the wholesale sale of non-medical marijuana applied at the point of transfer from the cultivation facility to a retail store or product manufacturer. The first $40 million of revenue raised annually will be directed to the Public School Capital Construction Assistance Fund (Amendment 64). Not only would this stimulate the economy but would also fund schools and in turn teach minds and bring jobs into the American population andShow MoreRelatedThe Top Ten Reasons Marijuana Should Be Lega1264 Words   |  6 PagesTen Reasons Marijuana Should Be Legal Prohibition hasnt stopped the use and domestic production of marijuana -- its time everyone faced this. September 1, 2007   |          LIKE THIS ARTICLE ? Join our mailing list: Editors note: There are millions of regular pot smokers in America and millions more infrequent smokers. Smoking pot clearly has far fewer dangerous and hazardous effects on society than legal drugs such as alcohol. Here is High Timess top 10 reasons that marijuana should be legalRead MoreLegalizing Marijuana1592 Words   |  7 Pagesdisobey unjust laws. 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An Analysis of Bosola in the Duchess of Malfi Essay

Bosola can be described as a convincing character as unlike some of the characters in the play, his opinions and principles change throughout, therefore constantly altering the audiences feelings about him. He is the only character to communicate to the audience via soliloquy, divulging his true thoughts and intentions which often differ from his outward appearance, making him psychologically realistic and interesting. Although this would suggest he is a convincing character, Bosola, at times, falls into set roles of the Jacobean Tragedy; malcontent, satirist and avenger. Webster uses Bosola to fulfill these conventions of the genre and to direct and drive the plot, especially after the Duchess death. Even though Webster uses Bosola in†¦show more content†¦One of the interesting aspects of the play is that it goes beyond the boundaries of its set time, giving its characters a past as well as a present. The audience learns straight away that Bosola was in prison, hinting at p revious experiences shaping his hatred for the Aragon brothers, `I fell into the galleys in your service. Bosola exists outside the plays timeframe, making him more convincing. All through the play, small references to Bosolas past are made, `I knew him in Padua, a fantastical scholar; he is not confined to the play, therefore he is more convincing as a character. As a spy, Bosola most frequently uses asides of all the characters. The audience is given an insight into his mind so they can differentiate from what his true intentions are and the lies he tells the other characters. This used is particularly in act 2 scene 1, where Bosola is trying to find out if the Duchess is pregnant or not by giving her apricots, `[aside]-how greedily she eats them. This makes his character more convincing to the audience as they can see the complex workings of his and how he is not always as he appears to the other characters. Throughout the play, Webster frequently reminds us that the world of the characters is not real; it is contrived and can therefore be manipulated by the playwright, `I think this speech between you both was studied, it came so roundly off. Webster never intendedShow MoreRelated The Fourth Act of The Duchess Essay example2050 Words   |  9 PagesThe Fourth Act of The Duchess The first necessity of baroque is that the audience should be gripped, excited, moved [1] - so says Ralph Berry. The fourth act of The Duchess of Malfi certainly succeeds under all these criteria, being the dramatic crux of the play. The events that occur in the first scene are undoubtedly crucial, but it is the characters vastly varied reactions to them that are vitally important. Rich imagery is deeply interwoven with the fabric of play - indeed, it isRead MoreDuchess Of Malf Open Learn10864 Words   |  44 Pagesï » ¿John Webster, The Duchess of Malfi Introduction 3 Learning outcomes 3 Background 3 Description 4 Act 1: setting the scene 5 Courts ideal and real 5 Discussion 5 Description 8 Bosola the malcontent 8 Discussion 9 Marriage for love: family opposition 10 Discussion 10 Love and marriage: Antonio the steward 13 Discussion 14 Love and marriage: the Duchess 15 Description 16 Description 17 Discussion 19 Act 2: discovery 21 Ferdinand 21 Discussion 22 Conclusion 24 References 24 Further reading 25 NextRead MoreThe Duchess Of Malfi By John Webster1260 Words   |  6 PagesJohn Webster, The Duchess of Malfi is an exquisite play filled with plot-twists, tragic moments, and stupendous actors who have studied under some of the greats. One actress in particular, playing the Duchess of Malfi is Ms. Julie Granata-Hunicutt , studied the works of Ms. Uta Hagen. She successfully demonstrated some of these magnificent techniques in the show tonight; I very much urge others to go and see the well-executed work for themselves. For the purpose of this analysis essay, I’ve decided