Report About Financial Analysis About Etisalat Uae Finance Essay - Free Essay Example

Sample details Pages: 12 Words: 3546 Downloads: 1 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? Etisalats UAE unit remains the primary contributor to Etisalats overall value with a respective weight of 88.8%. The UAEs growing expatriate population is driving, in particular, the mobile segment of Etisalats operation, which constitutes the bulk of Etisalats overall revenue. They forecast that Etisalats focus on mobile net subscriber acquisition should become secondary, as they believe that it will focus more on providing value-added services to retain its high net-worth customers and sustain its mobile ARPU. Don’t waste time! Our writers will create an original "Report About Financial Analysis About Etisalat Uae Finance Essay" essay for you Create order Throughout our forecast period, they believe that internet and broadband subscribers will be the next revenue growth driver, with broadband subscribers capturing the bulk of this growth. Competition in the local market: Despite skepticism concerning sustained mobile subscriber growth at a time when penetration rate in the UAE was already 130% at the end of 2006, with the launch of du, the second mobile operator in February 2007, quarterly net mobile subscriber additions for the total market almost doubled, reaching an approximate 570,000 per quarter during 2007, compared to an average of 247,000 subscribers per quarter in 2006. They do not expect to witness a price war between the two UAE operators in the short term, given the significantly smaller scale of operations that du manages, compared to Etisalat. Given that the level of technology deployed by both operators is similar, they believe that the quality and diversity of bundled services and promotions will be the base for competition in the short term. Consolidation of international operations: Throughout 2007, Etisalat increased its stakes in most of its international operations, enabling it to fully consolidate them into its financial statements which, they believe, will increase the value of Etisalat in the medium to long term. In the short term, however, they expect Etisalats operational performance to decrease or slow down, as most of these operations are still loss making. Strong cash position: Prior to 2006, Etisalat had no debt on its financial statements, generating all of its cash needs internally. However, with Etisalats increased focus on its international operations, management adopted an external financing policy to fund its growth strategy in these countries. On the other hand, despite Etisalats new debt policy, net debt/EBITDA remains negative, implying much more room for additional debt capacity and improved weighted average cost of capital. Foreign stock ownership ban: Currently, Etisalat is in discussions with both the UAE government and the capital market authorities to change it to a corporation governed by commercial law. If Etisalat obtains approval to change to a corporation licensed by commercial law, then it would become eligible for foreign ownership. Currently, only UAE nationals are allowed to trade the stock. In the event that the foreign ownership ban is lifted, they anticipate a rise in turnover and share price. Objective of the company. Profile: Etisalat has been the telecommunications service provider in the UAE since 1976, and has built up a modern telecom infrastructure and established itself as an innovative and reliable operator.   Etisalat stands 140th among the Financial Times Top 500 Corporations in the world in terms of market capitalization, and is ranked by The Middle East magazine as the 6th largest company in the Middle East in terms of capitalization and revenues. The Corporation is the largest contributor outside the oil sector to development programs of the UAE Federal Government, and is an award-winning socially responsible corporation. Etisalat has also won accolades from across the region for its nationalization program.   Apart from enabling the nation with basic telecommunication services, Etisalat also offers a range of innovative and modern services that have served to position the UAE as one of the most advanced nations in terms of telecom services. Mobile users enjoy the benefit s of excellent voice and data applications like WAP, GPRS, 3G, MMS, Push To Talk, BlackBerry services and others. Enterprise and individual customers on the fixed-line network also benefit from services such as ATM (Asynchronous Transfer Mode), Frame Relay, VSAT and ISDN.   The Corporation offers fixed line services over the Next Generation Network, and has been migrating sections of its users onto the advanced network. The timeline for completion of migration is the end of 2007. By establishing NGN, Etisalat will be able to offer voice, video and data over one single source, enabling true Triple-Play functionality.   Mobile subscribers exceeded 4.5 million by the end of 2005, up 23% from 2004. This represents penetration of nearly 100 per cent, a remarkable figure regionally and internationally. Internet and broadband penetration also witnessed huge growth during 2005, with penetration at almost 51%. Etisalat has concluded roaming agreements with over 265 operat ors, and even Etisalats prepaid mobile subscribers can roam in many of these networks.  In 1982, Etisalat was the first telecom operator in the region to introduce a mobile phone service, and was one of the early adopters of GSM technology, introducing it to customers in 1994. Since then it has established itself as a regional pioneer by introducing both 3G and MMS in 2003, and most recently, the BlackBerry service in 2006. Vision: A world where peoples reach is not limited by matter or distance. People will effortlessly move around the world, staying in touch with family, making new friends as they go, as well as developing new interests. Businesses of all sizes, no longer limited by distance, will be able to reach new markets. Innovative technologies will open up fresh opportunities across the globe, allowing the supply of new goods and services to everyone who wants them. Mission: To extend peoples reach. At Etisalat, we are actively developing advanced networks that will enable people to develop, to learn and to grow. The Future. A world in which technology extends our reach. Already, music, books and services no longer have to have a physical format to be sold online. Advanced networks will increasingly provide education, healthcare and other services and goods. For instance, telemedicine already allows patients to seek the best advice from doctors around the world; now robotic aids are beginning to make remote surgery possible. As the pace of technological change increases, Etisalat will extend its reach into new technologies, services and markets to create opportunities for our customers. Business Divisions: Etisalat University College UAEnic (United Arab Emirates Network Information Center) e-vision Ebtikar The Contact Centre e-Academy Subsidiaries: E-marine. Etisalat has been in the submarine cable business since 1990 through an in-house cable maintenance division. In 1998, this activity was spun off as an independent entity incorporated into Emirates Telecommunications and Marine Services FZE (e-marine). The next phase of growth and development for e-marine is the planned restructuring of the business with a proposal to offer a share of its equity to strategic partners. Partnerships will complement the companys existing strengths, open up new markets, and enhance regional coverage. Specific plans for 2007 are in place with the scheduled delivery in July of a multi purpose DP2 Vessel, which will serve mainly in the lucrative offshore oil industry. In the third quarter, the berthing arrangements on the Arabian Gulf will be shifted to a new port with a much larger depot. A second berthing/depot facility is under construction on the Arabian Sea in Oman and when commissioned in the fourth quarter will extend e-marines reach to the Red Sea, down the coast of East Africa and further into the Indian Ocean. Emirates Cable TV and Multimedia E-Vision: E-Vision is the UAEs leading cable TV provider, offering close to 200 channels in over 21 languages and offering diverse programming suited to the diverse population base of the UAE. With the basic package alone containing 85 channels, and other options including Showtime Cable, Orbit Vision, ART, Firstnet and Pehla, E-VISION is the most comprehensive cable TV provider in the Middle East. Service is now available in Abu Dhabi, Dubai, Sharjah, Ajman and Al-Ain, and is expected to be rolled out across the nation soon. Emirates Telecommunications and Marine Services FZE- e-marine. E-marine operates in the field of submarine cable installation, maintenance and repair throughout the region and beyond. E-marine is the only company of its kind in the Middle Eastern region, and handles regional and international projects with ease. This subsidiary owns three fully equipped cable ships and a modern cable depot in Abu Dhabi. Major international projects have been undertaken by e-marine including the recent block-2 of the SMW-4 cable, FOG and FLAG. Carrier and Wholesale. Etisalats Carrier Wholesale Services Division (CWS) is dedicated to delivering a comprehensive portfolio of high quality wholesale services, extending the reach of mobile operators, carriers and ISPs globally. We operate the regions most extensive international network, with direct links to over 118 destinations; an international mobile network that reaches over 450 destinations. We are the regions largest internet hub and the regional hub for intercontinental cable systems. CWS also provides national wholesale services to the UAE competitive market. Etisalats Carrier Wholesale Services Division provides the following services: e-Voice e-Mobile Emix IP Transit Services e-Capacity e-Connect e-Broadcast ETISALAT INTERNATIONAL: Etisalat management recognizes the importance and responsibility of balancing profitability and growth with long-term sustainability. Over the last five years, the Corporation has continued its high growth trajectory and ha s been progressively looking beyond the borders of the UAE. All of these initiatives are geared towards fulfilling its vision of joining the league of major telecommunication players in the world.   Its core strategy for market selection remains woven around low penetration and high population. This is backed by strong market research on high growth potential, consumer behavior, and value creation opportunities. Today, customers demand not only basic services but also want to take advantage of the value chain in terms of product and service segments. Innovative technology offerings from Etisalats stable produce a strong me too element. Etisalats UAE strategy of delivering the latest technology has established its reputation across the world, so its subsidiaries find it easier to enter new markets. As a result, Etisalat is warmly welcomed as a new entrant whose new products and services are eagerly anticipated. As it expands its global footprint, the Cor poration has been conscious of ensuring that it optimizes the synergies existing in regional markets such as the Middle East or West Africa. In addition, it encourages sharing lessons learned in one operation with others. It has effectively utilized its experience of setting up Greenfield operations in Mobily in Saudi Arabia to the market in Egypt. This ensured Etisalats Egyptian operations passed the 1 million subscriber mark within 50 days of starting operations. Over the years, Etisalats brand equity has grown in profile. In order to leverage its strong brand, the Corporation launches all Greenfield projects under the Etisalat brand. However, in acquired assets where there is an existing strong brand (like Moov in West Africa), it nurtures and strengthens the existing brand. In 2007 Etisalat acquired new assets and consolidated its position in existing markets. It entered two new and exciting markets Nigeria and Indonesia. With their large populations and relativel y low penetration, these markets match Etisalats core corporate strategy perfectly. Aligned with the Corporations mission of extending peoples reach, other promising additions to Etisalats investment portfolio can be expected in 2008 and beyond. FINANCIAL STATEMENT ANALYSIS Financial ratio analysis is an important topic. It is widely used to summarize the information in a companys financial statements in assessing its financial health. In todays information technology world, real time financial data are readily available via the Internet. We can use several tools to evaluate a company, but some of the most valuable are financial ratios. Ratios are an analysts microscope: they allow us get a better view of the firms financial health than just looking at the raw financial statements. Ratios are useful both to internal and external analysts of the firm. For internal purposes: ratios can be useful in planning for the future, setting goals, and evaluating the performance of managers. External analysts use ratios to decide whether to grant credit, to monitor financial performance, to forecast financial performance, and to decide whether to invest in the company. Calculating financial ratios is a pointless exercise unless we understand how to use them. One overriding rule of ratio analysis is this: A single ratio provides very little information, and may be misleading. We should never draw conclusions from a single ratio. Instead, several ratios should support any conclusions that we make. With that precaution in mind, there are several ways that ratios can be used to draw important conclusions. With this Financial Statement Analysis Tools post series, describe what financial ratios are and who uses them, define the five major categories of ratios (liquidity, efficiency, leverage, coverage, and profitability), calculate the common ratios for any firm by using income statement and balance sheet data, use financial ratios to assess a firms past performance, identify its current problems, and suggest strategies for dealing with these problems, calculate the economic profit of a firm. We will look at many different ratios, but you should be aware that these are, of necessity, only a sampling of the ratios that might be useful. Furthermore, different analysts may calculate ratios slightly differently, so we will need to know exactly how the ratios are calculated in a given situation. The keys to understanding ratio analysis are experience and an analytical mind. We will divide our discussion of the ratios into five categories based on the information provided: Liquidity Ratios, describe the ability of a firm to meets its current obligations. Consisted of: The Current Ratio= (current assets / current liabilities) The Acid Test Ratio= (current assets-inventories/current liabilities) Average Collection Period= (account receivable/daily credit sales)   Efficiency Ratios, (profitability) describe how well the firm is using its investment in assets to produce sales, consisted of: Inventory Turnover Ratio= (cost of goods sold/ inventory) Fixed Asset Turnover Ratio= (Sales/ net fixed assets) Total Asset Turnover Ratio= (sales / total assets) Account Receivable Turnover= (credit sales/ account receivable) operating income return on investment = ( operating income / total assets)   Leverage Ratios, (Financing decision) reveal the degree to which debt has been used to finance the firms asset purchases, consisted of: The Total Debt Ratio= (total Debt / total assets) Times interest earned= (operating income / interest expense) Return on equity = ( net income / common equity ) Return On Equity (ROE) it shows how are the firms mangers are maximizing shareholder welth. ROE = (net income / common equity ) statement. And here are Income Statement and Balance Sheet of ETISALAT for the years 2006, 2007, 2008 and 2004 as data source  we are going to use through this main topic.   The Income Statement. The income statement is a fairly simple document that begins by listing a firms revenues (perhaps by sources or in total) followed by all of the firms expenses. The result of the income statement is the net income for the period. Net income represents the accounting profit left over after all expenses have been paid from the revenue for the period, and below is the ETISALATs Income Statement for the year of 2006, 2007, 2008 and 2009. INCOME STATEMENT Figures in AED million 2006 2007 2008 2009 Revenues 16,290 21,340 27,095 33,156 Total Operating Expenses -10,694 -14,730 -19,228 -23,173 Total Operating Income (EBIT) 5,596 6,610 7,868 9,983 Depreciation -1,391 -1,368 -2,147 -2,487 Amortization -6 -594 -672 -668 EBITDA 6,993 8,571 10,686 13,139 Interest Income 476 623 722 868 Interest Expense -262 -503 -426 -349 NPBT 5,810 6,843 8,114 10,448 Deferred Tax 0 -122 -122 -122 Net Income Before Minority Interest 5,810 6,720 7,991 10,326 Minority Interest 50 576 390 389 Net Income 5,860 7,297 8,381 10,715 Income Statement: The Balance Sheet: The balance sheet is usually divided in two sections: the assets section at the top or left side, and the liabilities and owners equity section at the bottom or right side. It is important to realize that the balance sheet must balance (thus the name). That is, total assets must equal the sum of total liabilities and total owners equity. Each of these sections is usually further divided into subsections. On the asset side, there are two subsections. The current assets section describes the value of the firms short-term assets. Short-term, in this case, is defined as one year or the time it takes for the asset to go through one cash flow cycle (i.e., from purchase to sale to collection). Typical current assets are: cash, accounts receivable, and inventories. Fixed assets are those assets with lives longer than one year. Examples of fixed assets include vehicles, property, buildings, etc. Like assets, liabilities can be subdivided into two sections. Current liabilities are those l iabilities that are expected to be retired within one year. Examples are items such as accounts payable, wages payable, etc. Long-term liabilities are those that will not be paid off within the current year. Generally, long-term liabilities are made up of various types of bonds, bank loans, etc. Owners equity represents the difference between the value of the total assets and liabilities of the firm. This part of the balance sheet is subdivided into contributed capital and retained earnings. Contributed capital Bali Cumberland is the investment made by the common and preferred stockholders of the firm. Retained earning is the accumulation of the undistributed profits of the firm. And below is the ETISALATs Balance Sheet for 2006, 2007, 2008 and 2009. Balance Sheet Figures in AED million 2006 2007 2008 2009 Cash 10,304 9,433 14,025 17,657 Receivables 1,091 2,047 3,762 4,509 Stores 66 175 222 272 Other Current Assets 2,093 1,246 1,139 1,276 Total Current Assets 13,553 12,901 19,149 23,713 Net Fixed Assets 8,496 11,876 14,155 15,490 Other Long Term Assets 23,859 27,671 27,949 27,086 Total Long Term Assets 32,355 39,547 42,104 42,576 Total Assets 45,908 52,448 61,253 66,289 Short Term Debt 0 343 3,874 775 Payables 8,568 13,231 14,212 17,212 Other Current Liabilities 5,037 4,092 4,321 4,459 Total Current Liabilities 13,605 17,665 22,408 22,447 Total Grey Area 2,208 1,838 1,448 1,059 Long Term Debt 6,981 3,141 2,635 1,860 Other Long Term Liabilities 3,928 5,746 5,618 4,658 Total Long Term Liabilities 10,909 8,887 8,253 6,518 Net Worth 19,187 24,057 29,144 36,265 Total Liabilities and Equity 45,908 52,448 61,253 66,289 Balance Sheet Graph. Cash Flow Statement: Cash Flow statement Figures in AED million 2006 2007 2008 2009 Net Profit 5,859,747 7,296,644 8,664,984 8,546,432 Depreciation 1,391,349 1,368,182 1,708,289 2,113,870 Amortization of licenses 5,729 593,756 809,283 982,956 Other adjustments (538,352) (896,711) (2,423,411) (289,594) Operating cash flows before change in Working capital 6,718,473 8,361,871 8,759,145 11,136,663 Stores 38,688 (46,960) (27,638) (40,569) Debtors and Prepayments (375,655) (262,364) (494,944) (875,115) Amounts due from/to other telecom Administrators (81,008) (353,675) (503,094) (235,572) Creditors and Accruals 2,208,252 3,175,454 3,119,591 (930,109) Net cash from operating activities 8,508,750 10,874,326 10,853,060 9,055,298 Proceeds from disposal of an investment 2,324,994 Investments (4,823,902) (2,488,938) (2,128,196) (1,968,950) Intangibles (706,396) Dividends Received 259,796 194,931 136,371 Purchases of fixed assets (1,432,084) (3,460,275) (3,661,196) (2,641,489) Acquisition of Subsidiaries (754,466) (875,560) License Fees Paid (11,236,127) (126,696) (1,399,501) Interest income received 475,704 622,715 425,804 677,692 Net cash used in investing activities (16,756,613) (6,012,729) 2(2,902,223) (6,914,203) Due from Associates 1,174,579 (256,616) (123,845) Loans to associates (422,105) 10,287 Loans installment repaid by associates 130,495 Advances/loans from investment partners 2,088,485 57,804 180,665 Repayment/ proceedings 6,980,600 (4,131,956) (2,164,545) 2,468,430 Amounts contributed by minority share holders 2,175,321 124,165 Finance cost paid (129,038) (443,462) (413,564) (424,646) Dividends Paid (2,041,875) (2,835,938) (3,244,312) (5,600,362) Net cash from financing activities 8,651,338 (5,924,313) (5898,372) (2,472,236) Net change in cash 403,525 (1,062,716) 2,052,465 (331,142) Beginning cash 9,658,510 10,304,033 9,432,564 11,294,868 Exchange differences on translations Of overseas operations 241,998 191,247 (190,161) Cash at end 10,304,033 9,432,564 11,294,868 10,963,726 Trend Analysis TREND ANALYSIS Trend analysis provides signals as to whether the companys financial health is likely to improve or deteriorate. The trend analysis based upon the following financial ratios: Leverage Ratios: to measure the extent to which the companys assets are financed with debt Liquidity Ratios: to measure the companys ability to pay its bills Profitability Ratios: to measure the companys ability to generate earnings Efficiency Ratios: to measure the companys ability to utilize its assets Market Value Ratios: to measure the market perception about the companys future prospects. The downloaded four years balance sheets and income statements are to be used to calculate the financial ratios. For example, four leverage ratios (Debt/Equity, LT Debt/ Cap, LT Debt/Tot Debt, and LT Debt/Tot Assets) are reported, but the interest coverage ratio (= earnings available for interest/interest expenses) is missing in the DJI. Students are required to obtain the earnings and interest expenses information from the income statements and calculate this ratio to measure the companys ability to service the debt. In the area of liquidity, current ratio (= current assets/current liabilities) and quick ratio (= quick assets/ current liabilities) are reported, but the interval measure (= quick assets/daily operating expenditures) is not. Students are required to obtain quick assets (= cash equivalent + receivables) from the balance sheets and operating expenditures from the income statements, and calculate this ratio to measure how long the company can keep up with its bills using only existing quick assets. FACT SHEETS: Fact Sheets 2006 2007 2008 2009 Liquidity Ratio Current Ratio 1.0 .7 .7 .9 Acid test ratio NA NA NA NA Average collection period NA NA NA NA Efficiency Ratios Inventory Turnover Ratio= NA NA NA NA Fixed Asset Turnover Ratio= 1.92 1.79 1.91 2.14 Total Asset Turnover Ratio= 0.35 0.41 0.44 0.5 Account Receivable Turnover= NA NA NA NA Operating income return on investment 12.1% 12.6% 12.8% 15% Leverage Ratios The Total Debt Ratio= Times interest earned= 21.4 13.1 18.4 28.6 Return On Equity ROE Growth Rate of Etisalat. Profitability Ratio. Liquidity Ratio Activity Ratio Conclusion: Despite intense competition and global market conditions, Etisalat has reported consolidated revenues of AED 26.21 bn in 2008 an increase of 22.4% over 2007revenues. Revenue from international operations increased by 14.7% and formed 9% of groups revenue. With the UAE mobile market approaching saturation, the belief is that the mobile operators will focus on high quality value added services. The migration to NGN (Next Generation Network) in UAE will enable Etisalat to further introduce more value added services. It is believed that UAE will still be the revenue driver for Etisalat. A strong financial position will enable Etisalat to continue pursuing its expansion strategy and eye strategic acquisition. The share of international operations of the groups is expected to grow as well as the revenues generated by them which is clear from the fact sheets above. With the launch of du, the second mobile operator in February 2007, quarterly net mobile subscriber additions for th e total market almost doubled, reaching an approximate 570,000 per quarter during 2007, compared to an average of 247,000 subscribers per quarter in 2006. They do not expect to witness a price war between the two UAE operators in the short term, given the significantly smaller scale of operations that du manages, compared to Etisalat. Given that the level of technology deployed by both operators is similar, they believe that the quality and diversity of bundled services and promotions will be the base for competition in the short term.

Behaviorism Theory And Social Cognitive Theory - 1082 Words

Learning perspective also known as behavioral perspective is a theory that is apprehensive with how a person’s behavior changes because of their environment and experiences. The learning perspective has two theories; behaviorism and social-cognitive learning theory. Furthermore, behaviorists do not invoke the mind to explain behavior; they prefer to stick to what they can observe and measure directly: acts and events that happen in the environment (Carole Wade, 2008). In this essay the following attributes that will be discussed are; the two types of theories and their sub theories, two current uses in Business Science, what is the learning effectiveness of those learning approaches, and lastly this essay will be concluded by discussing alternative uses of the learning approaches in the major business science. Behaviorism is referred to as a psychological approach which emphasizes scientific and objective methods of investigation (McLeod, 2016). 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Human Resource Management Recruitment And Selection of Google

Question: Discuss about the Human Resource Management Recruitment And Selection of Google. Answer: Introduction Human resource management is an approach that aims at assisting business organisations in managing their workforce in the most efficient manner. Using human resource management functions and practices, such as recruitment and selection, career development, and performance management. business organisations are able to optimise the performance of their workforce by improving the workplace conditions and fostering better employee-employer relations. Company background Google is a multinational technology company that is based in America. Google specialises in internet related services and products. Some of the areas where the company operates are online advertising technologies, search, cloud computing, software and hardware. The company was founded by Larry Page and Sergey Brin in 1996 while pursuing Ph.D. at Stanford University, California. Google is one of the top multinational companies in the world that has been ranked amongst the top companies to work for. The approximate workforce of the company was 57,100 during the second quarter of 2015. The company does not require any introduction as it is the worlds most powerful search engine and has multiple domain names registered in different countries for offering diverse services to its users. Apart from searching webpages, the company also helps in providing information about images, maps and videos. The company has also entered the list of top 3 companies in the world in terms of value. In this report, we will discuss some important human resource management practices that are followed by the company and are helping it in growing and leading the global industry in which it is operating. 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Google, being a global company, has a diverse workforce and its matrix organisational structure allows human resource managers to identify links between different parts of the organisation and use the derived information in job analysis and design. To make the process of job analysis more efficient, the company uses a number of worker-oriented as well as work-oriented job analysis techniques. When the job analysis has to be done for a job in departments like research and development, product design or manufacturing, the company tends to follow work-oriented job analysis methods where the main stress is given upon the actual tasks or activ ities that are involved in the work. On the other hand, for conducting a job analysis for job positions in departments where greater interpersonal skills are required, the company uses a worker-oriented job analysis method in which it lays a greater focus on the human attributes that are required to successfully perform the job (Lombardo, 2017). Google is a very large organisation and because of its large size, the company has to prepare highly varied job descriptions and specifications. Even though the job descriptions and specifications for different positions can vary, the company still includes and emphasizes on certain employee attributes, such as smartness and drive for excellence. so that it can have a competitive workforce, which can fit into its organisation culture. Thus, the strategy of the company in designing the jobs on the basis of departments and including certain key personnel attributes in the job description and specification helps it in effectively designing all the jobs and finding the right fit for the organisation. From the given information, it can be easily said that the company knows what it is doing and how to do it right. Being continuously awarded as an employer of choice apart from the fact that the company has millions of employees working for it in diverse departments, shows the capability of the company in conducting accurate job analysis, which strengthens its human resource management practices. Googles talent attraction strategies Talent attraction involves strategies that a company undertakes to become an employer of choice in the market. Attracting talent is an important function of human resource managers as they cannot function if they do not get the required talent to fulfil the human resource demands of the organisation. As discussed above, Google is a company that operates in multiple sectors and has job openings for almost every profession other than non-engineering professions, such as nursing and entertainment. Even though Gooles repot and stature itself acts as a magnet for attracting talent throughout the world, the company still tries its best to attract the best people in the world. The way in which the company treats its employees and the compensation and benefits that the company offers to its employees play an important role in attracting the best candidates throughout the world. The company offers free food, on-site messages, A-list speakers and many other such benefits to its employees along with a higher pay scale than the market. Apart from offering such benefits, the human resource management of the company shows a great obsession with employee happiness and is continuously working towards measuring and building the perfect teams (Check, 2016). Apart from pay and perks, the work culture at Google is another important attraction for most of the candidates. The company has been successfully able to foster a positive work culture that helps in promoting happiness amongst the workforce. The management has also given an opportunity of flexible working hours to the employees rather than fixing the office hours according to the traditional 9 to 5. The company conducts frequent surveys that are aimed at gathering satisfaction feedback from the employees (Kula, 2007). Google also offers flexible holiday-time that allows the employees at Google to work when and from wherever they want. Google offices also have special areas which are known as innovative zones as well as indoor parks that can be used by employees during their break hours (Jain Bhatt, 2015). The management of the company also lays down a greater focus on the output rather than focusing on the number of hours worked (Half, 2016). Google also has tie-ups with colleges a nd business schools from where it recruits potential candidates for its organisations. Google has been able to make use of some of the best talent management strategies, such as providing positive workplace environment, pay and perks. that are important needs of the employees and has been able to attract some of the top minds in the world because of such strategies (Schuler, Jackson, Tariquec, 2011). Googles selection strategies Google receives more than 2 million job applications every year from all around the world and hires several thousands of those candidates. The company takes an average of six weeks to secure a hire and all candidates have to undergo a screening test by their potential bosses, colleagues and hiring committee (FELONI, 2016). The company is not just efficient in attracting talented pool of employees but also has a set of selection strategies that allows it to strengthen its recruitment programs and have better human resource management outcomes. At Google, the managers feel that passion is a crucial attribute that every potential hire must possess. Google is on a hunt for those people who are interesting and can be of certain value to the company. Google has also introduced a new term i.e. Googleyness, which is a trait that defines the ability of a person to be more than just normal or an out of the box thinker. Passing the LAX or the Googleyness test is an important selection strategy that the company adheres to. A person who is able to pass the test is the one with whom one can have an interesting conversation with, according to the company. The management at Google also believes that interviews are the best place where they can actually get to know the candidate rather than studying their resumes. The company believes that a resume might be able to highlight important information, such as a score of 3.8 from an elite business school, but what it will not highlight is that the person has been a boring student who never had an original idea in years, which an interview can easily highlight. The company designs its interviews for half an hour at the max rather than indulging into extended conversations with candidates who have not even appealed to the recruiters since the beginning. Keeping the interviews short and to the point allows the company to gather useful information because even the candidates are aware about the time limitation. If the recruiters feel that they need more time, they can always schedule another interview or can extend the time of the interview even further but keeping the interviews short and to th e point allows the company to have conversations with candidates that are more protein and less fat (Schmidt, Rosenberg, Eagle, 2014). Another strategy that allows the company to excel in the global industry on the basis of its human resource management practices is to take away the hiring decisions from the hiring managers. Most of the times, business organisations let their hiring managers to make the hiring decisions, who will be managing the employees only for a few months. Once the employees start moving up in the organisation ladder, who do they work for becomes more important than who do they work with. As a result, the hiring decision should not just be limited to the hiring managers alone as a hiring manager might not even have a stake in the company in the coming times. Google has set up a process where the hiring decision is made by a committee (Zacher, Chan, Bakker, Demerouti, 2015). Irrespective of a recruiter or a selectors position, if he or she wants to hire a candidate, it cannot happen without taking an approval from the hiring committee, whose decision is strictly based upon facts and data rather than relationships and opinions. By allowing the hiring committee to make the hiring decision, the company ensures that there is nothing that can drive a hiring decision other than a zeal to recruit the best for the company. Appointment and rejection at Google Appointment and rejection are an important function of a human resource manager as it is important to properly extend a formal invitation to those candidates who the company believes will be the right fit in the organisation while it is also important to politely reject those candidates who, according to the company, will not be able to fit in the workplace culture or the expectations of the company. For a candidate to receive an appointment letter from Google, there is a lengthy step wise process that the candidate will have to pass. First of all, the resumes of the candidates are screened to find a potential fit. The candidates selected from their resumes are then contacted by the recruiters and are explained about the further process and what to expect. The next step is an on-site interview of around 30-45 minutes with 4-5 interviewers, where the candidate can be asked to solve technical problems or quizzes. Once the interview is done, each interviewee submits his or her feedback which is then passed on to the hiring committee for their review. Next, a senior executive reviews every offer and the compensation committee determines a compensation and benefit plan for the selected candidates. Then a final executive interview is conducted before extending an appointment letter and if a candidate is selected, Google then notifies the candidate along with an explanation about all th e details. On the other hand, it is also important for the company to provide proper closure for the employees who cannot fit into the company or are not good enough to work in the company. Google receives millions of applications every year and it gets hard for the company to provide one line hard answers or rejections to so many candidates. Google is likely to notify a candidate about his or her rejection through an e-mail if he or she is not able to pass the initial phone screening whereas anybody who completes the full interview loop is most likely to be notified for rejection through a phone call. Legal framework For a company like Google that has thousands of employees working in more than hundreds of offices around the globe, it is important to have human resource policies and strategies that can help the company in adhering to the legal framework of the local governments. Google takes a number of initiatives to assure that it breaks no law and its human resource management decisions are in accordance with the legal framework. Some of the strategies that the company uses to ensure adherence to legal framework in its peoples operations are discussed below: First of all, the companys hiring and selection strategy is designed in such a way that it cannot let any kind of biasness enter into the process. Google applicants have to undergo an extensive screening test in which they are interviewed on phone calls and personally by different people. Sometimes, the people interviewing a candidate might not even be linked to their department or subject. Further, the application of each candidate is reviewed by a hiring committee and a senior executive, which eliminates any scope of biasness or discrimination in the recruitment process (Girard, 2009). Secondly, the company also has designed strategies that allows it to decide the compensation and benefits of the employees on the basis of certain factors and in accordance with the legislation. The company claims that its compensation plans are blind to gender or any other such demographics as the process of deciding the annual compensation for an employee starts with suggested compensations for each employee on the basis of the role that an employee plays, seniority, the campus where they work and their performance levels. The company also claims that it never provides demographical data to the team that takes decision about the compensation and benefits of the employees working at Google (TOWNSEND, 2017). Thirdly, the management at Google has also discovered that it is almost next to impossible to get rid of unintentional discriminations that occur un human resource management. For example, Google has a ratio of almost 2:1 for male vs female employees and in order to curb this rate, the company will have to stop recruiting male candidates for the next couple of years altogether, which is also not legit. The company has started to arrange some workshops that are helping its employees to reduce their own feelings of unconscious biasness. Thus, to eliminate unconscious discrimination from the company, the company has started undertaking strategies that can help in its employees to admit and get rid of their own biases before making decisions (PINSKER, 2015). Orientation and socialisation at Google Google is a company that hires only the best candidates, who are a few lucky ones out of millions of job applicants. For a company like Google, orientation programs become of utmost important because the way in which the company operates is a top secret and a fantasy for most the employees and Google can definitely not afford to have unproductive employees or those who cannot fit into the organisation (Silva Opatha, 2015). Thus, the company takes a number of initiatives to strength its orientation and socialisation strategies. First of all, the company arranges a two-week in-person training program for all the new recruits or Googlers, which the company calls them. The in-person training program lasts for two weeks and is aimed at educating the new recruits about the organisational structure, core technologies and programming practices. During these sessions, the trainers also share their personal experience with the new recruits. Secondly, the company takes a number of initiatives to introduce the new employees to the culture of the company and provides them with enough time to get acclimatized with the norms and practices that foster productivity amongst the workforce of the company. In most of the orientation presentations, the company tries to foster a feeling of a change oriented environment in the mind of the new employees because the company operates in an industry that can undergo rapid changes in real time. Thus, it is important for the new recruits to be ready for workplace changes since there first day, which is conveyed to them through orientation presentations. Thirdly, the company provides a wide list of points that the Nooglers are to expect or not to expect during the first week to month and beyond in the new workplace. It helps in setting the right expectations amongst the new recruits so that they can develop a better understanding of how the things go around in the new workplace. Fourthly, the first project that is offered to a new employee is known as a starter project and is kept short so that a good introduction can be provided to the recruit in the specialised field. Apart from using checklists, in-person training, classes, intranet and rookie mailing list. the company also has a glossary which allows all the employees to speak the same language. Fifthly, even the experienced candidates recruited by the company are required to undergo a training program that is known as CodeLabs. CodeLabs are tutorials that help the new recruits in gaining knowledge about the proprietary technology that the company uses. CodeLabs can also be used by existing employees if they want to refresh their knowledge or skills related with a particular technology and they never feel ashamed in attending one. Sixthly, every new recruit in Google is assigned a mentor who has proven successful in the company and has undergone a certified course that increases their knowledge related to typical newly hired nerds. The company tries to maintain informal relation between a Noogler and a mentor and the interaction between them can last for months. There have also been instances when an entire team of Nooglers has been taken out on lunch by a mentor just to get acquainted and ask questions from each other. Lastly, all employees working in the company, whether new or old, are required to send Weekly snippets in which they write very short bullet points that can describe the work that they have done in a particular week. Further, these snippets are used by the employees at the end of every quarter to conduct a self-assessment and set goals. The company also asks Nooglers to formulate certain goals during the orientation period and expects them to fulfil at least 70% of their gaols (Dye, 2016). Googles retention strategies High employee turnovers can be a great distress for any business organisation, even if the company is as large and big as Google. Google has been finding it tough to retain its employees even though it offers them with a lot of perks and pay because the talent in which Google invests has a kit if potential and is either leaving the organisation to start their own business or is being hired by competitive companies, like Facebook. Some retention strategies that are used by Google to keep its employees engaged and committed to the company are discussed below: First of all, the company uses a number of human resource management systems and algorithms that collect and analyse important information and data in the best possible manner. The capabilities of the companys system allow the human resource management team to have a more sophisticated approach towards workforce management and bringing down the chances of the unexpected to an absolute minimum . Secondly, the company understands the importance of retaining employees and its efforts to retain employees can be seen right from its recruitment and selection procedures. The company leaves no stone unturned to find the right fit for the right job. The company believes that it is better to reject a good candidate than to recruit an unfit candidate, which sooner or later will add to the employee turnover rates. Thirdly, the company actually values its employees by showing it to them rather than just mentioning it on paper or in media statements. Google believes that the employees of the company, who have named themselves as Googlers, are everything for the company. The employees working at Google are considered to be the most valuable assets and are given ample freedom along with a healthy work life balance (Matsangou, 2015). Fourthly, the employees working in Google enjoy best in class pay and perks and even enjoy certain welfare activities which are aimed at providing them some fun time during the working hours. Some of the Google offices even have volley ball courts, bowling lanes, climbing walls and many other arcade activities, which provide an excellent environment for the employees to work and enjoy in. Google also offers certain best in class perks to its employees, such as napping pods and hammocks for the workers, which can help in boosting cognition levels and reducing stress. The company also offers its employees to visit on-site masseurs so that they can relax and minimise their stress levels while there are on-site doctors that are there to help the employees with any problems related with their health. The company leaves no stone unturned to show how much it values its employees. Google gifts $500 to the new parents whenever a Google baby is born, which is a class apart benefit enjoyed by G ooglers. There are several bicycles placed around the workplace and electric cars that the employees can use throughout the day and during lunch breaks. Google also offers free food to all of its workforce (Das Baruah, 2013). Fifthly, Google also believes in its employees as the managers allow their team members to communicate with each other and spend time together so that they can generate new ideas. The company also allows its employees to work on a personal project outside of their allocated duties for up to 20 percent of their working week. Google also offers career development opportunities to its employees as it really believes in providing job enrichment to the workforce (Terera Ngirande, 2014). The company assigns a number of tasks to the workforce and provides them complete ownership of the projects. The employees are able to work on a single project right from its beginning to its end and are able to understand the impact that their actions can have on a project and on the organisation on the whole. Lastly, one of the most obvious strategies that Google uses to retain its workforce has been lying behind its ability to stay as an employer of choice over a large period of time. Google receives around 2 million applications every year while only a few thousand lucky applicants are able to find their way to the company. The feeling of being associated with a company like Google is also an important factor that helps the company in retaining its workforce (Bamberger, Biron, Meshoulam, 2014). Conclusion It is said that when the competition gets tough, only the tougher gets going. Google is one such company that is relatively young but has still been leading the industry because of its ability to perform. In a time where there is severe competition in the market and companies are fighting a neck-to-neck competition with each other, Google is investing billions of dollars in the management of its human resources and human resource management practices that are best in class. From the recruitment strategy of the company to employee retention strategies, everything defines perfection and is something that can be a learning for many companies. Google is able to attract and recruit some of the best minds in the world, provide them with the best working conditions, offer them with some of the best perks and above market salaries and provide them with a million reasons to stick to the company. The human resource management practices designed and implemented by Google are setting an example of how a company can achieve market competencies by investing correctly in its human resources. References Randall, T. A., Cooke, E. F. (2015). 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