Lenovo Goes Global Term Paper Example | Topics and Well Written Essays - 1750 words

Lenovo Goes Global - Term Paper Example This acquisition was a great opportunity for the Lenovo brand; however, it also posed significant challenges to the company’s management. The key challenge was associated with differences of the American and Chinese cultures. It took almost five years before the company has managed to resolve the worst of the cultural differences (Holstein, 3). This was a process of learning of a way in which the multinational company should operate in order to succeed. In result of this experience, the company has surpassed such global players on the PC’s market as Dell and Hewlett-Packard Company (Holstein, 4). Lenovo’s sales have almost doubled in 2014 compared to 2008, and reached $39 billion. This success was partially attributed to the company’s Mergers & Acquisition strategy. The company has successfully entered many foreign markets by acquiring local players. One of the most recent acquisitions was the handset division of Google and IBM’s low-end server busi ness in China (Holstein, 4). Another success factor was attributed to the company’s capability to develop a global network. Lenovo has developed effective HR strategies based on the global approach, adopted global management principles, and created network oriented enterprise. Also, the company has managed to transform its ineffective and costly supply chain into highly integrated, cost-effective, flexible and competitive supply chain system. In order to achieve this, Lenovo’s management has eliminated excessive elements and policies, have developed effective system of performance measurement, and provided extensive training to its top managers. Lenovo has also adopted â€Å"out of box† thinking culture and against all the stereotypes have reestablished electronics assembly in the United States (Holstein, 6). Despite the fact that the workforce in the US was more costly than in China, Lenovo has

Role play Essay Example | Topics and Well Written Essays - 2250 words

Role play - Essay Example 1. Have good analytical listening skills. This ability does play a significant role in leadership, for only through listening can one be able to gather as much information as possible. The modern leaders of our society that innovated the prosperity of their organizations, as well as nations, talk less and listen more. This is mainly because in listening to outsiders they can branch out of their comfort zones where everything is alright and learn of the emerging problems being incurred. In my leadership position, I utilize my analytical listening abilities by first surrounding myself with trustworthy individuals who can talk a lot and address problems experienced objectively. From this activity am also able to evaluate all the information that is supplied directly to me and thus be able to analyze how best to use this information. I do not seclude myself to only listening to the positive but majorly listen to the critical information to fully understand the depth of the problem and an alyze how it can be sorted out. 2. Ability to persevere, deal with volatility as well as adapt to changes incurred. Great leaders always create a volatility plan in place in order to implement it, should a volatile season occur. This helps to keep them on the alert and also enhance the chances of the organization dealing with volatility in an appropriate manner. In my experience volatility mainly occurs with investments and the ability to adapt to the new nature of the environment is vital and it should be done with a remembrance of perseverance. I do this in order to be able also to support and help my employees towards enduring volatile seasons of investment. I usually do have very tight plans already drawn up to necessitate some business and changes incurred during these seasons. 3. Can conduct open networking and manage relationships. Technology has transformed the modern ways of networking in business and globally a leader should

Capital Budgeting Techniques in Asset Investments

Capital Budgeting Techniques in Asset Investments Title: In practice asset investments are determined by using capital budgeting techniques – discuss using examples in real organisations Capital budgeting decisions are important because they affect the future earnings and growth of a company. Large amount of academic research has been devoted to establishing methods in asset investments. Most of these relate to Capital Asset Pricing Model, Net Present Value and Internal Rate of Return. But the question still remains how closely the above prescribed methods are followed in the real world. This paper looks at the financial methods used by small and large organisations in investment decision making and analyses whether there is any difference due to firm size. It also looks at whether there is any difference in the methods used during stable and unstable business environment. Net present value and Capital Asset Pricing Model are the two most common methods prescribed by academics for investment valuation. Over the years the above methods have become more common, yet various surveys find that the large companies use these methods more frequently than smaller firms. Small firms rely more on payback method for investment decision making. They also rely on their past experiences to decide which projects to take. During uncertain and crisis times, managements rely more on their qualitative analysis than on quantitative analysis to make investment judgments even though they carry out more financial analysis. A) Comparison of small and large business practices in relation to investment decisions Discounted cash flow methods are most common financial techniques mentioned in academic literature for investment decision making. Graham and Harvey (2001) carried out a survey of 392 CFOs in USA on capital budgeting techniques. They reported that the asset investment decision making relied heavily on the net present value technique in large firms. On the other hand, smaller firms were more likely to rely on payback method. Their survey and analysis clearly showed that firm-size was a major factor in deciding the corporate finance practices employed in investment decisions. Larger firms were more inclined to use Capital Asset Pricing Model than smaller firms. In case of smaller firms, CFOs used payback period method as frequently as NPV or IRR methods. They also noted that the dividend paying firms are more likely to use NPV and IRR methods as compared to non-dividend paying companies. Since dividend paying companies are on average larger than non-dividend paying companies, it shows that larger companies rely more on NPV and IRR for asset investment decision making. While Graham and Harvey (2001) study showed the growing importance of NPV as an asset investment decision tool, it also showed that the payback method is the third most likely used method in asset investment decision making process. Because of no time value of money in payback method, academics don’t use it for capital budget method. Buts its prevalence and third ranking shows that the companies still rely on relatively incorrect method for investment decision making. Brounen, Jong and Koedijk (2004) extended Graham and Harvey (2001) study to Europe. They surveyed 313 firms in UK, the Netherlands, Germany and France to analyse the practical applicability of the net present value and capital asset pricing models in the business world. Like results in Graham and Harvey (2001) study, their main observation was that the financial management practices are determined mainly by the size of a firm. But they found some differences in financial practices between companies based in USA and Europe. On capital budgeting, Brounen, Jong and Koedijk (2004) found that European firms are more likely to rely on payback method for investment decision making. While the payback method was third preference in the US, it was number one preference among European firms. Brounen, Jong and Koedijk (2004) noted that smaller firms use cost of capital as told by their investors. They don’t have robust resources in place neither internally nor resources to procure external services for cost of capital calculation. Absence of proper cost of capital measurement results in higher use of payback method. While in case of US companies, the use of NPV and payback method was equally distributed in the small firm segment, the use of payback was more prevalent in European smaller firms. This difference could be due to the difference in sample size of American and European firms. 51% of American firms in Graham and Harvey (2001) survey had sales of more than $500 million US dollars. The corresponding figure in Brounen, Jong and Koedijk (2004) survey is less than 25%. As the average size of European firms in Brounen, Jong and Koedijk (2004) survey was smaller than average size of American firms in Graham and Harvey (2001) survey, it is more likely that smaller firms use payback more than NPV in asset investment decision making. Ekanem (2005) surveyed 8 small enterprises in the printing and clothing sectors in UK to analyse their investment decision making process. His results showed that owner-managers of small firms rely more on their previous experience than formal evaluation to make investment decisions. He also lists the barriers faced by the small firms in investment decision making that result in owners’ reliance more on their experiences rather than formal evaluation. He cites absence of resources, both financial and managerial, to carry out proper financial evaluation and concentration of decision making in hands of one or two people as the major reasons behind their focus on past experiences. Ekanem (2005) also mentions the uncertain and risky nature of small enterprises as one of the reasons for relying more on experience. Small firms may run out of cash quickly due to sudden change in environment before they could see positive cash inflows from a project and hence many times ignore project s with higher payback periods. Sole trader A sole trader is most likely to employ his past experiences in evaluating an investment decision. If he had any past experiences which brought his current business or past businesses very close to bankruptcy due to high amount of debts, he would not like to take up projects which are not cash positive in short term even though they might have a positive net cash flow over their life. Most of the sole traders even don’t understand their true cost of capital. If they fund an internal project from internal accruals they don’t associate any cost with it. Very seldom they think about an opportunity cost of capital. Another reason for not associating costs to internal funds is the absence of difference between business and personal finances. Sole traders don’t have an external majority shareholder to report to and are not accountable to outsiders. They keep on drawing and adding back money to the business based on their personal requirements. Under such circumstances, it becomes very difficult for a sole trader to keep track of all cash flows associated with a project and hence is unable to do the asset investment decision making on the discounted cash flow model. As an example, we look at the independent pharmacies, i.e., those pharmacies not owned by a group or corporate houses and they normally have 1 to 5 pharmacy outlets in UK. Many of these are limited companies and owned and managed by a qualified pharmacist. Due to increasing regulatory requirements and competition, pharmacies are undergoing refurbishment to offer additional services and increase foot fall and over the counter sales. Over the counter sales have higher margins than NHS prescriptions. Most of the owners of the independent pharmacies are qualified pharmacists who have professionally managed their pharmacies but don’t have the financial expertise to properly evaluate an asset investment decision based on capital budgeting. When independent pharmacy owners spend money on refurbishment, they don’t take into account the cash flows associated specifically with the refurbishment over its project period. Most of them don’t have the financial expertise to build a full-scale discounted cash flow model to find out the net present value of the refurbishment project. Nor they like to spend money on external resources to do a financial evaluation. If they see that their peers in the pharmacy industry have managed to do well with refurbishment projects, they undertake similar projects. B) Comparison of investment decisions in stable and unstable business environments When companies have time to plan in advance, they do account for different risks when planning investment decisions. Cooper et. al. (2002) surveyed companies on the method of handling risk in the capital budgeting process. 87% of the respondents replied that they use subjective techniques and 65% affirmed that they used quantitative techniques. On the methods used to quantify risk, 33% of the respondents replied that they increase the required rate of return or cost of capital to compensate for risk considerations. But planning for risk in stable times and then taking decisions in unstable times are different things due to dynamics of things during unstable times. The major difference between stable and unstable environment is the increase in risk during unstable environment. Companies face two different kind of unstable business environments – company specific and economic-wide unstable business environment. Company specific unstable environment relate to company only and occur mostly due to rapid changes in that industry and/or the financial state of that company. The additional major risks facing a company under economic-wide unstable times are political risks and foreign exchange risks. Even though companies plan for political risks by adjusting rate of capital, when they actually face such a scenario, the investment decision making is more than just calculating net present value. Alessandri (2003) found that managers rely on their personal judgment and experience more than on quantitative decision tools as uncertainty increases. The use of qualitative tools more at the times of higher uncertainty deviates from the reliance of academic literature on quantitative tools only. Consider the example of firms planning to invest in Bolivia. Bolivia’s new president has nationalised mining industry. Any firm planning to invest in Bolivia will reassess the risk involved in investing there as its assets could be nationalised in future. It can use the net present value models and adjust political risk factor to incorporate future nationalising in Bolivia. But even after obtaining a positive net present value, most of the companies would not like to invest at current times. They would like to wait and watch to see further actions of the Bolivian government before making any investment decision. If the firm has external shareholders, the management would not like to invest in Bolivia now because if anything goes wrong in future, the management will find it very difficult to justify their action. They would rather play it safe and let the investment opportunity pass by if not invest later rather than facing a situation where their decisions could be severely cr iticised. The other major risk that could happen in unstable times is the foreign exchange risk. During 1997-98 the currencies of South East Asian countries plummeted. The drop was so sudden and so sharp that all financial modelling about risk incorporation couldn’t take full effects into consideration. Foreign investment in South East Asian countries in late 1997 and 1998 dropped significantly. Most of the companies waited for the government to take action and economy to stabilise before channelling in their investments. Because of the sharp drop in their currencies, it was widely expected that South East Asian countries would impose some ban on foreign capital repayment to prevent further out flow of foreign exchange. When countries did implement such ban, multinational companies were not sure when such a ban would be lifted and did not invest in South East Asian economies till the situation became normal. The rapid change in business environment during crisis times makes it very difficult for companies to assign value to various risk factors used in capital asset pricing model and net present value. This also results in managements relying more on qualitative analysis for investment decision making. Companies also face unstable business environment or crisis times which are specific to them only. This normally occurs when a company is perceived to be unable to meet its debt requirements and there are chances of it going into administration. At such times even though the company may come across a positive net present value project, it would be unable to invest money into the project because of high debt level concerns. Stagecoach is a UK listed firm in transportation sector. Prior to 2001, it had diversified in UK, Hong Kong and New Zealand. Sep 11, 2001 events severely impacted its tour operations because of reduced travel. Because of high fixed cost in establishing travel business, sudden drop in revenues raised doubts about the loan serviceability[1]. This was reflected in the sudden drop of Stagecoach’s share price which lost more than 3/4th of its value in the year 2002[2]. Even though Stagecoach’s Hong Kong operations were profitable, the management sold Hong Kong operations to reduce debt levels to meet market expectations[3]. The management also sold other operations in non-UK countries and its share of a joint venture with Virgin Rail to reduce debt levels. Investment decision making in crisis times involves more than just quantitative analysis and managements make decisions based on their past experiences and likely outcome of different scenarios. Many times during company-specific crisis of high debt, managements take investment decisions to meet market expectations rather than decisions based on net present value. CONCLUSION Capital budgeting decisions play a very important role in deciding future growth of a company. Academics rely on use of financial models like net present value, capital asset pricing model and internal rate of return to evaluate investment decisions. Over the years, the use of above methods has become more common. Large companies mostly use the above methods in asset investments. But in case of smaller companies, the use of other methods like payback period is still prevalent. Though over the years the gap between theory and practice has narrowed down, the use of payback period method shows that smaller companies either don’t have the expertise or resources to do proper financial evaluation. The owner-managers of smaller companies and sole traders also rely heavily on their past experiences to decide about investments. During uncertain and crisis times, managements rely more on their qualitative analysis than on quantitative analysis to make investment judgments even though they carry out more financial analysis. Managements would not like to take decisions just on the basis of net present value to invest during crisis times. BIBLIOGRAPHY Alessandri, T. (2003). â€Å"The impact of risk and uncertainty on rationality: Evidence from capital investment decision processes†. Working paper presented at the Academy of Management Conference, Seattle, WA. Brounen, D., A. de Jong and K. Koedijk (2004). â€Å"Corporate finance in Europe: Confronting theory with practice†. Financial Management, Tampa. Winter 2004. Vol. 33, Iss. 4; Pg. 71 Cooper, W.D., R.G. Morgan, A. Redman and M. Smith (2002). â€Å"Capital budgeting models: theory versus practice†, Business Forum, Los Angeles, 2002, Vol. 26, Iss. 1/2, Pg.15 Ekanem, I. (2005). â€Å"‘Bootstrapping’: The investment decision-making process in small firms†. The British Accounting Review, Kidlington. Sep 2005, Vol. 37, Iss. 3, Pg. 299 Graham, J.R. and Harvey, C.R. (2001). â€Å"The theory and practice of corporate finance: Evidence from the field†. Journal of Financial Economics, Amsterdam. May/Jun 2001. Vol. 60, Iss. 2,3; Pg. 187 [1] Stagecoach trading update (http://www.investegate.co.uk/Article.aspx?id=200204290701312056V) [2] Stagecoach share price chart (http://uk.finance.yahoo.com/q/bc?s=SGC.Lt=5y Date 21 Jan 2007) [3] Stagecoach’s sale of Hong Kong operations (http://www.investegate.co.uk/Article.aspx?id=200401190817013617U)

Native Americans Essays -- essays research papers fc

People have been living in the Americas for thousands of years. Only fairly recently, the past few hundred years, have foreigners begun to arrive and drastically disrupt the way of life of the aboriginal population. The situation has become so severe that a population that was one believed to be numbered in the millions, was at one point reduced to as few as 220,000 in 1910, and entire tribes have been either irretrievably warped or have disappeared altogether. While Native American Indians have almost completely recovered population-wise, they will never catch up to the rest of the world, and their culture can never fully recuperate. At the time the United States was settled by Europeans, it was abundantly populated by dozens of separate nations with diverse civilizations and cultures. Like other colonized regions, the indigenous people suffered first from the introduction of diseases that were common in the regions that the settlers were from, to which the Indians had no immunity. It is believed that millions died of smallpox, measles, whooping cough, and influenza. Some estimate that such epidemics were responsible for more than 80 million deaths during the early colonial period alone. Although The Indians numbers were never accurately recorded (estimates have ranged from in the low millions to as much as around a hundred million) it is certain that they are far from a complete recovery. For nearly 300 years the population of Native Americans had been declining, since shortly after Columbus arrived in the Western Hemisphere to a while after the civil war. But starting in the beginning of the 20th century the United States census bureau has reported an almost continuous increases in native populations (with some exceptions, notably an influenza epidemic that occurred in 1918). From the 1980’s to the 1990’s there is reported a growth of almost 500,000; from 1,478,523 in 1980 to 1,937,391 in 1990. Despite these promising statistics the population of Native Americans is only a small fraction (0.8 percent) of the hundreds of millions of other inhabitants in the United States. Despite their initial confusion to their situation after the arrival of Europeans, the Native Americans did not take their disenfranchisement from their own land lying down. Native Americans have a long history of "fighting back" against invaders encroaching on the land that ... ... remained of their once vast civilization, Native Americans were beginning to make a recovery. Despite a long history of disease, broken treaties, and constant removal from their own land Native Americans can finally focus within their own society to try to rebuild what they have lost. Although they may never fully recover, Native American Indians are at the best position they have ever been in since their exposure foreign influences. Bibliography Bibliography Zinn, Howard. A Peoples History of The United States. 1980, pp. 124-146. Josephy, Alvin M. The Indian Heritage of America. New York, 1968. Pp. 53, 116. _________. Through Indian Eyes. New York, 1995, Pp. 330-332, 383. Oswalt, Wendell H. This Land Was Theirs: A Study of The North American Indian. 1966, Pp. 399-400. "Indian Images." News report. ________. "First Nations Histories." http://www.tolatsga.org/compacts.html ________. "Top 25 Native American Tribes." US Census Bureau. http://www.census.gov/population/socdemo/race/indian/ailang1.txt (1995) ________. "The Native American Peoples: A History of Genocide." Boabab Press http://www.africa2000.com/bndx/ba0320.htm (2000)

Behavior and personality development Essay

A person’s behavior and attitude at any point of time is the resultant effect of all factors acting on the individual. The factors, each contribute in its own way and at varying levels, having a positive effect, a negative effect, a soothening effect or even a precipitating effect. The individual then reacts as a consequence of all combined effects. There are several parameters involved in the development of behavioral patterns including cognitive-social, biological, emotions, gender, person-situation, culture, ethnicity etc. These factors effect differently, for each individual since the level of perception and understanding is varied. It should be noted here that there may be several other factors too that influence behavior patterns, that have not yet been recognized. The cognition-social perception of an individual plays an important role in the building up of the individual’s personality. Although there is a debate of whether cognition gives rise to emotions or emotions give rise to cognition, the resultant reaction has wide social perceptions. The term ‘cognition’ in emotion elicitation includes all simple sensory information processing to very complex processing. The emotion – cognition – interaction is the study on the integrative aspects of research in emotion, cognition and the interaction between the two. The complex association between emotion and cognition is analyzed using knowledge and methods from the separate fields of research. Emotions are not always associated with facial expressions. Face recognition and object recognition are performed through different functions by different areas within the brain. Several disorders like alexia, prosopagnosia and visual agnosia develop when recognition process is impaired. Social cognition attempts to relate personal-social development with intellectual development. The process of cognitive development occurs through four universal stages of infancy; toddler and early childhood; elementary and early adolescence; and, adolescence and adulthood. The development in each stage is associated with an increased level of thinking. Cognition is an important aspect of behavior development. An individual perceives a situation based on his cognitive inputs and responds appropriately. Thus feelings of sadness, happiness, anger, guilt etc. , are produced as a result of cognition. As for me, I don’t tolerate anyone talking to me in a high pitch or commanding tone. In such cases, I deliberately don’t cooperate, even if the speaker wants to help or oblige me. Gender too plays an important role in social developments. Women have been traditionally expected to perform their domestic family roles as obedient wives and daughters. They were mainly more perceived to be sexual objects in a male dominated society, with primary interests in homemaking and caring, till the end of the century. This indifference in sociology can be mainly attributed to men’s identity as the dominant social player associated with force of character while women are associated with their weaknesses and passive role. The relationship between crime and gender has been immense throughout the long period of offence observation. Men and women have differing offence rates and offence patterns, both as offenders and as victims. The opportunities and capabilities of men and women for crime are different, which is reflected in their crime pattern. The sex of offenders has always been recorded throughout the history of criminal record keeping. Lady police officers and corrections officers are also needed to tune in, to fit into the gendered criminal justice system, although their lives are very different from that of women offenders or victims. Women were allowed to take up positions of police patrol officers and corrections officers only in the 1970s. This too was achieved through several legislative changes and civil rights movements. While positions have been opened for women in the male dominated fields like policing and corrections, women are faced with challenges as to what are appropriate or not appropriate women activities, given their traditional attitude on such activities. The social role of women had been had been largely restricted, although the situation has changed considerably. However gender based perception, attitude and reaction to situations persist. I am particularly careful in my dealings with women, because I find it difficult to convince them compared to men, although they don’t argue or threaten like men. It has been established by biocriminology that heredity and body organ dysfunctions can induce an inclination in social interaction. Modern researches indicate that chromosomal abnormalities, hormonal and brain chemical imbalances, diet, drugs and alcohol are factors that contribute to aggressive and criminal behavior. The hormone ‘testosterone’ in men has been identified as the main cause of aggression and crime committed by most men. Several case studies indicate that certain foods or food constituents induce neuropsychological disorders in the form of allergic or pharmacologic reactions which may even lead to chemical imbalances in the brain, resulting in behavioral disorders. Adoption and twin studies too indicate that genetic influences play a major role in development of criminal behavior. Molecular genetic investigations and epidemiological studies suggest that criminal activity may be genetically linked to mental abnormality. Prenatal disturbances or altered normal fetal development due to maternal smoking in pregnancy period is linked to violent offsprings. Reading deficits are sometimes developed in impulsive aggressive people, which could be attributed to their early school experiences. Here, impulsive and aggressive acts are caused due to inability in discriminating visual information during social situations. Biology is an important determinant of behavior and social response. Although I don’t perceive any behavior type as due to any specific food pattern, I do believe that group behavior or specific instincts of groups has to do with their biological response. Cultural differences and its influence on behavior have been extensively studied by behavioral scientists mainly during the 1940s and the 1960s. Cross-cultural psychology is very important in understanding the psychological framework of inter personal behavior. Interpersonal behavior is a vital aspect of human daily activity and is greatly influenced by culture. In recent times, this relationship between culture and individual behavior is more explored through empirical studies rather than historical or philosophical enquiries. Findings of such studies indicate that culture moulds and defines individual attitude as much as it determines our values, our ways of thinking and our social relationships. Culture is in fact a major criteria in the determination of human behavior. Culture together with the physical environment represent one of the two important external factors that mould human behavior. These factors in combination with internal influential factors of biological and psychological aspects constitute the main determinants of human behavior. Culture is inhibited by both internal and external representations. External representation of culture is seen in institutions of education, politics, religion and economy while it is internally represented through values, worldviews, beliefs etc. All these forces act simultaneously on an individual at any given point of time. Perhaps most of the conflict and confrontation in today’s world may be attributed to cultural differences. Clash of cultures and adherence to rigid cultural beliefs, keeps up tension between communities. A mutual respect and understanding of each others culture and values is essential for the upliftment of any society. I find it difficult to live a normal life where cultural tolerance is not practiced. I personally feel that culture intolerance is a sign of undeveloped cultures. The individual at any point of time is also subject to a given situation. It is this simultaneous interaction of the person and the situation, which ultimately derives the behavior. Therefore, behavior can be described as a person-situation interaction, which is under continuous adjustment. Normal or abnormal behavior is a continuous response to the person-situation forces. The attitude and behavior of mankind is influenced by several factors, which cannot be predicted or explained using any particular theory. These include cognition, biological, behaviorist, cognitive-social, existential-humanistic, person-situation, and gender, cultural and ethnicity. It must also be understood that similar factors cannot influence everyone to the same level. A combination of several such factors may perhaps explain a particular behavior pattern. Although the role of the parameters in the development of the behavior pattern is known, we cannot conclude that all factors contributing to the same have been identified, nor the level of contribution of each factor. Newer research needs to be done on the subject, to determine further influences, given the fact that technology and lifestyle are constantly evolving.

Project Management Body of Knowledge Essay

The PMBOK is an IEEE standard pioneered by PMI that provides the essentials of project management to successfully complete the project. Out of the nine knowledge areas I think these three areas are the most important and if these are managed well the trade show would be very effective. 1. Project Time Management A project is considered winning only if it is delivered on time and in that case only, it earns proper attention in terms of business and visitors. A project needs to be divided into various small tasks and each task must be linked together using two strategies of logical relationship between the tasks and the estimated time. Furthermore the sequence of flow of the tasks defining dependency of tasks on each other is important in this regard. The priority of tasks must also be considered while time managing the project. Milestones must be set to follow the time management properly; these milestones may include the following:  · The start and finish of a project  · Completion of major deliverables  · Formal reviews  · Key events such as presentations If this area of PMBOK is missed then the project would not be delivered on time and would definitely lose its value and if it is still delivered the quality of the trade show would definitely have been deteriorated. 2. Project Human Resource Management To manage most projects, another most important area is human resource management. To organize a trade show a number of people having expertise in various areas are needed and effectively managing them so that maximum output form the employed people is taken is a key to a successful project. The frustrated project managers are usually found saying that they need more resources, but even with more resources the problem doesn’t get solved, adding more resources may even complicate the problem. The key to it is to systematically analyze the project human resource requirement, which in turn make possible effective project completion in a timely and neatly manner (Meredith & Mantel, 2008). Key practices to improve the human resource management are  · List the people with the tasks (in a Gantt chart)  · Find out If the same person is listed as the owner of the most of the tasks  · Find out if The same person is listed as owner of the same parallel tasks  · Find out if The any person has been barely listed  · Find out if The Many tasks are stacked up in parallel  · Find out if Those tasks which don’t have owners If the proper HRM is not a practice, Firstly Cost of project would be increased and secondly rift between the several members of the team may result leading to the total failure of the project. 3. Project Communications Management To organize an effective event the communication between the various members of the team need to have effective communication between them. Large projects such as tradeshow generate a large amount of communication. Proactively determining the mode of communication between the team members and how often would that communication takes place would be an important time saver, some teams agree to use email for formal and non urgent matters and voice mail/ phone call for urgent matters. Another way is to give responsibility to someone who would be responsible for communicating information to the senior managers. Trade show, like all other projects, needs to establish its own communication strategy depending upon the people involved and the cost (Kerzner, H. (2005). Ineffective communication would incur considerable increase in cost to the project and things would happen but in a haphazard manner with often conflicts occurring within the team and same tasks done repeatedly by several members resulting in wastage of time.