6: Write a letter to the Global Cares Medical firm , Mahatma Gandhi Road,New Delhi
placing order of N95 masks, sanitizers for your firm.(Invent the necessary details)
Answers
Explanation:
In some countries masks are worn in accordance with local customs or in accordance with advice by national authorities in the context of COVID-19. In these situations, best practices should be followed about how to wear, remove, and dispose of them, and for hand hygiene after removal.
Advice to decision makers on the use of masks for healthy people in community settings As described above, the wide use of masks by healthy people in the community setting is not supported by current evidence and carries uncertainties and critical risks.
Answer:
This fictional letter from a board member to a CEO highlights the challenges and complexities of running a business in today’s uncertain environment. While avoiding the facile bashing of U.S. executives so common these days, it nonetheless casts a hard light on the flaws that have recently been exposed in the American management model. We hope that you find it an illuminating, and bracing, read.
Dear CEO,
I’ve been reflecting on the recent board meeting. We were all encouraged by the third-quarter revenue numbers and the improving forecast for the year. The stabilization of our gross margin, despite the price cuts, speaks well of your latest cost reduction initiatives. On the whole, I think we can safely assume we’ve weathered the current storm. However, while we can all be grateful for the recent signs of an upturn in our performance, I suspect the next year or two will hold many challenges.
Indeed, the stabilization of our situation offers only a brief reprieve, if any at all. Like many companies these days, we have a workforce that remains fragile after surviving rounds of layoffs. We operate in an industry that still has decidedly too much capacity. And we are embroiled in a market share battle that shows no signs of abating. I’m not sure if anyone really knows which of our competitors started the price war—for all I know, we did—but we’ve only just begun to see the effects on margins and market share. Furthermore, some of our competitors’ recent earnings restatements and their use of “creative” accounting will surely bring more scrutiny to our company in the months ahead. In short, you’ll have your hands full indefinitely.
That is precisely why I’m writing to share some thoughts on a less obvious, but nonetheless critical, issue: your role as the leader of the company during this time of uncertainty. I know I risk sounding like every pundit in America when I raise these issues, but I want to talk to you openly about your role and responsibilities in the future. I think my long service on the board and those years we spent working together on the industry council have earned me that right. Or perhaps, merely your indulgence.
I will spare you a sermon on the need for integrity in our financial reporting. I must admit, however, that even by the jaded standards of someone who has served as a director of public companies for more than 15 years, I’m shocked by what we’ve witnessed in the last several years. As the chair of the Audit Committee, I remain satisfied both with the accuracy of our financial reporting and the performance of our auditors. Similarly, I’m not concerned about the level of your compensation or dealing in our stock. Nonetheless, we must guard against even the appearance of rapaciousness or self-dealing, lest we invite intense scrutiny from the business press, the union, and institutional investors.
This risk is just one way in which the current circumstances have thrust you into a position where your actions will have a disproportionate impact on the company’s prospects. As the famous World War II admiral Bull Halsey once said, “There are no great men, only great challenges that ordinary men are forced by circumstances to meet.” I think the next couple of years will offer those “great challenges” and will require all your skill to meet them. Another observation: Whether you like it or not, your career is apt to be judged by your performance over that period.
As you know, I’ve watched this industry closely for many years—seven of them as a CEO myself—and this isn’t the first downturn I’ve seen. As I’ve thought about it, though, I’ve come to reject most of the analogies between this and previous recessions as flawed. In my view, the most important feature of this recession is what happened in the years preceding it. It was during that time that we fell victim both to our hubris and to the pressures to perform up to Wall Street’s expectations instead of our own.
In retrospect, it is now clear that because of our desire to “meet or beat the street,” we made a number of strategic choices and instigated a series of changes to the underlying management system that caused us to fall harder and faster than necessary. For example, you and the CFO consistently told the market that we could grow profits at a 15% compound annual rate, even though our core businesses were struggling to hit 4% top-line growth and we were close to exhausting our supply of sensible cost reduction options. Sure, the consultants told us it was possible. And yes, the rest of the board and I got caught up in the rhetoric and went along. But look where that left us when the downturn hit.
Explanation:
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