5 tips for managing scope changes

When you start a project, you think you know exactly what you need to deliver, but then along comes a change. It can be hard to say no to a senior manager, and often the changes suggested are great improvements that you should really incorporate into the project.

So how do you manage the impact on the project scope, the team, the budget and the schedule? That's a lot of things to consider for one change! Here are 5 tips for successfully managing changes to scope on your project.

Tip 1: Record all the changes
First, regardless of where the change comes from, it should be recorded somewhere. Use software (or else use excel) to make this job easier as it helps you prepare a consolidated list of all submitted changes and what happens to them afterwards.

Tip 2: Assess changes
Assess all the changes that have been submitted. Some will be great ideas and some won't be! Work out what impact they will have on the project and the benefits, and then you can put forward your considered recommendation to the project sponsor about whether to incorporate them into the project or not. The sponsor will make the final decision, but will be looking to you for that recommendation to approve or reject the change.

Tip 3: Prioritize changes
Assuming the change is approved, you will have to work out what sort of priority it needs. Is it something that you should drop everything for and work on now? Or can it wait a bit longer? Your team can help with this, and you'll also get a view from your project sponsor. Prioritizing is really useful if you have a number of changes as it will help you plan the work in the right order.

Tip 4: Review your plan accordingly
It is rare that you can incorporate a change without changing anything else on the project. Changes will have an impact on the project budget, schedule, resource plan and even the risks and issues log. Go through your entire project and work out what needs to be updated as a result.

Remember to share all the changes with your project team so they are also aware of anything different that they have to do now.

Tip 5: Don't agree to everything!
Don't say yes to anyone who suggests a change until it has been properly analyzed! Otherwise you could promise to deliver something that turns out to be really difficult or not something the sponsor will agree to. And you don't have to agree with your sponsor either. While they have the final say, if you don't agree with a change you can record this in the issues log but you will have to incorporate the change into the project.

Terms of the Week-Business Dictionary (Part I)

Marketing mix
A planned mix of the controllable elements of a product's marketing plan commonly termed as 4Ps: product, price, place, and promotion. These four elements are adjusted until the right combination is found that serves the needs of the product's customers, while generating optimum income. Sometimes the first P (Product) is substituted by presentation.

Marketing concept
Management philosophy according to which a firm's goals can be best achieved through identification and satisfaction of the customers' stated and unstated needs and wants.

Market segmentation
The process of defining and subdividing a large homogenous market into clearly identifiable segments having similar needs, wants, or demand characteristics. Its objective is to design a marketing mix that precisely matches the expectations of customers in the targeted segment. Few companies are big enough to supply the needs of an entire market; most must breakdown the total demand into segments and choose those that the company is best equipped to handle. Four basic factors that affect market segmentation are (1) clear identification of the segment, (2) measurability of its effective size, (3) its accessibility through promotional efforts, and (4) its appropriateness to the policies and resources of the company. The four basic market segmentation-strategies are based on (a) behavioral (b) demographic, (c) psychographic, and (d) geographical differences.

Globalization
The worldwide movement toward economic, financial, trade, and communications integration. Globalization implies the opening of local and nationalistic perspectives to a broader outlook of an interconnected and interdependent world with free transfer of capital, goods, and services across national frontiers. However, it does not include unhindered movement of labor and, as suggested by some economists, may hurt smaller or fragile economies if applied indiscriminately.

Procurement
The act of obtaining or buying goods and services. The process includes preparation and processing of a demand as well as the end receipt and approval of payment. It often involves (1) purchase planning, (2) standards determination, (3) specifications development, (4) supplier research and selection, (5) value analysis, (6) financing, (7) price negotiation, (8) making the purchase, (9) supply contract administration, (10) inventory control and stores, and (11) disposals and other related functions. The process of procurement is often part of a company's strategy because the ability to purchase certain materials will determine if operations will continue. A business will not be able to survive if it's price of procurement is more than the profit it makes on selling the actual product.

Objective
A specific result that a person or system aims to achieve within a time frame and with available resources. In general, objectives are more specific and easier to measure than goals. Objectives are basic tools that underlie all planning and strategic activities. They serve as the basis for creating policy and evaluating performance. Some examples of business objectives include minimizing expenses, expanding internationally, or making a profit. Neutral (bias free), relating to, or based on verifiable evidence or facts instead of on attitude, belief, or opinion. Opposite of subjective.

Gap analysis
A technique that businesses use to determine what steps need to be taken in order to move from its current state to its desired, future state. Also called need-gap analysis, needs analysis, and needs assessment. Gap analysis consists of (1) listing of characteristic factors (such as attributes, competencies, performance levels) of the present situation ("what is"), (2) listing factors needed to achieve future objectives ("what should be"), and then (3) highlighting the gaps that exist and need to be filled. Gap analysis forces a company to reflect on who it is and ask who they want to be in the future.

Labor market
The nominal market in which workers find paying work, employers find willing workers, and wage rates are determined. Labor markets may be local or national (even international) in their scope and are made up of smaller, interacting labor markets for different qualifications, skills, and geographical locations. They depend on exchange of information between employers and job seekers about wage rates, conditions of employment, level of competition, and job location.

Cycle time
The period required to complete one cycle of an operation; or to complete a function, job, or task from start to finish. Cycle time is used in differentiating total duration of a process from its run time.

Socialization
Process by which individuals acquire the knowledge, language, social skills, and value to conform to the norms and roles required for integration into a group or community. It is a combination of both self-imposed (because the individual wants to conform) and externally-imposed rules, and the expectations of the others. In an organizational setting, socialization refers to the process through which a new employee 'learns the ropes,' by becoming sensitive to the formal and informal power structure and the explicit and implicit rules of behavior. See also organizational culture and orientation.

World's Shortest Man and Woman Meet

For the first time in history, the shortest man and woman in the world have met. The shortest man, Chandra Bahadur Dangi, 72, is from a remote area of Nepal and stands 21.5 inches tall. Eighteen-year-old Jyoti Amge hails from Nagpur, India and measures just less than 25 inches tall.

It was a match made in heaven for Guinness World Records, which arranged the introduction for a photo shoot to promote the upcoming release of Guinness World Records 2013 on September 13. To provide scale, a record book (12 inches in length) was placed between Chandra and Jyoti for one of the photos.

“It was an extraordinary moment,” says Marco Frigatti, the official Guinness World Records Adjudicator, who also took part in the photo shoot. “They’re both such incredible individuals. Everyone knew this was a special moment, and the atmosphere was magical.”

A Record-Breaking Birthday
yoti secured the World’s Shortest Woman title simply by reaching womanhood on her 18^th birthday in December of last year. She has a condition called achondroplasia, a genetic disorder that affects bone growth and cartilage formation. Achondroplasia is the most common cause of dwarfism.

Jyoti won't grow any taller than her current height. Due to her size, she has her clothes specially made. She sleeps in a tiny bed and uses special plates and cutlery to eat. Jyoti is currently pursuing her dream of becoming a successful actress. She has already starred in a number of Indian films.

 

“Since being recognized by Guinness World Records, I have been able to visit lots of different countries,” says Jyoti. “I love travelling. I have visited Japan and parts of Europe, and now I can’t wait to visit the UK.” 

 

 A Record-Breaking Discovery

In February this year, Chandra made headlines around the world when he was crowned the World’s Shortest Man. Until his recent discovery, he had spent his entire life in the remote Nepalese mountain village of Rhimkholi, about 250 miles west of Kathmandu. Because Chandra has never been examined by a doctor, the cause of his short stature is unknown. According to areport from the Daily Mail, doctors suspect he has a form of primordial dwarfism.

Chandra’s 21.5-inch height also snagged him the title of Shortest Man in History, breaking the previous record of India’s Gul Mohammed, who was 22.5 in tall.

“I’m very happy that I’m being recognized by Guinness World Records and that my name will be written in a book,” says Chandra. “It’s a big thing for my family, my village and my country. I am very happy.”

Metal Freedom Rider Sculpture of Man on a Bike with Arms Aloft

This metal Freedom Rider sculpture in sage green portrays a man on a bike with his arms held aloft. It will appeal to anyone who has ridden a bicycle and suddenly felt a wave of joy and happiness which has consequently led to them throwing their arms into the air in celebration. This cyclist themed sculpture is one of positive human expression and emotion which will become a decorative focal point in just about any interior setting in which it is placed.

The metal sculpture is a great gift idea for anyone with a fondness for cycling, whether they engage in it themselves or actively watch road races on television. The Tour de France regularly sees triumphant cyclists raising their arms aloft when crossing the finishing line. If you want to lift a room’s mood, then this metal sculpture is ideal. It’s been given a sage green finish as well as rust coloured highlights to accentuate the material and form. The cyclist’s jacket, flowing in the wind behind him, creates an extra sense of movement, vitality and life.

New Year Wishes, SMS, Poems & Quotes

H ours of happy times with friends and family

A bundant time for relaxation

P rosperity

P lenty of love when you need it the most

Y outhful excitement at life simple pleasures

N ights of restful slumber (you know - don’t' worry be happy)

E verything you need

W ishing you love and light

Y ears and years of good health ...

E njoyment and mirth

A angels to watch over you

R embrances of a happy year!

New Year Wishes & SMS

à New Year begins, let us pray, that it will be a year with new Peace, New Happiness, and abundance of new friends, God bless you throughout the New Year.

à Wishing you happy New Year, May u always keep in your heart the special beauty and cheer of New Year.

à My wishes for you, Great start for Jan, Love for Feb, Peace for march, No worries for April Fun for May, Joy for June to Nov, Happiness for Dec, Have a lucky and wonderful 2013

à Each moment in a day has its own value. Morning brings HOPE, afternoon brings FAITH, Evening brings LOVE, Night brings REST, Hope you will all of them every day. HAPPY NEW YEAR 

à Like birds, let us, leave behind what we don't need to carry...

            GRUDGES SADNESS PAIN FEAR and REGRETS.
            Life is beautiful, Enjoy it. HAPPY NEW YEAR.

à We will open the book. Its pages are blank. We are going to put words on them ourselves. The book is called Opportunity and its first chapter is New Year's Day

à Nights are Dark but Days are Light,

Nights are Dark but Days are Light,

Wish your Life will always be Bright.

So my Dear don't get Fear

Coz, God Gift us a "BRAND NEW YEAR".

*HAPPY NEW YEAR*

à May this New Year bring many opportunities your way, to explore every joy of life and may your resolutions for the days ahead stay firm, turning all your dreams into reality and all your efforts into great achievements.

I make a wish

On the first day of this year...

I make a wish that,

Happiness be at your door

May it knock early, stay late

And leave the gift of God's Peace,

Love, Joy & Good Health Behind!

May this year be the best of all

Happy New Year!

 May God grant you

In this New Year

May God grant you:

Sun to warm you,

Moon to charm you,

An Angel to protect you,

True love to care for you,

A friend to listen to you!

New Year Poems

Twelve Month Trip of New Year

God built and launched this year for you;

Upon the bridge you stand;

It's your ship, aye, your own ship,

And you are in command.

Just what the twelve months trip will do

Rests wholly, solely, friend, with you.

Your logbook kept from day to day

My friend, what will it show?

Have you on your appointed way

Made progress, yes or no?

The log will tell, like guiding star,

The sort of captain that you are.

For weal or woe this year is yours;

Your ship is on life's sea

You act, as captain, must decide

Whichever it shall be;

So now in starting on your trip,

Ask God to help you sail your ship.

Have A Good Year Ahead

Every Day Is A First Day

May peace fill all the empty spaces around you

And in you, may contentment answer all your wishes.

May comfort be yours, warm and soft like a sigh.

And may the coming year

show you that every day is really a first day,

a new year.

Let abundance be your constant companion,

so that you have much to share.

May mirth be near you always,

like a lamp shining brightly

on the many paths you travel.

May you be true love.

The Beginning of New Year

A new year is beginning to peak through

softly beautiful and different like new falling snow,

each day unique and shaped just for you.

Your life adding something as each day does grow.

My wish for your new year is beauty

and softness with surprises thrown in for delight.

Love for each day bringing happiness to you,

making your life a scene of sparkle and shining sunlight

New Year’s Quotes

1. Year’s end is neither an end nor a beginning but a going on, with all the wisdom that experience can instill in us. -Hal Borland

2. It wouldn’t be New Year’s if I didn’t have regrets. -William Thomas

3. An optimist stays up until midnight to see the new year in. A pessimist stays up to make sure the old year leaves. -Bill Vaughan

4. A New Year’s resolution is something that goes in one year and out the other. -Author unknown

5. Cheers to a new year and another chance for us to get it right. -Oprah Winfrey

6. New Year’s Day: Now is the accepted time to make your regular annual good resolutions. Next week you can begin paving hell with them as usual. -Mark Twain

7. New Year’s Eve, where auld acquaintance be forgot. Unless, of course, those tests come back positive. -Jay Leno

8. One resolution I have made, and try always to keep, is this: To rise above the little things. -John Burroughs

9. May all your troubles last as long as your New Year’s resolutions. -Joey Adams

10. The only way to spend New Year’s Eve is either quietly with friends or in a brothel. Otherwise when the evening ends and people pair off, someone is bound to be left in tears. -W.H. Auden

11. New Year’s Resolution: To tolerate fools more gladly, provided this does not encourage them to take up more of my time. -James Agate

12. Now there are more overweight people in America than average-weight people. So overweight people are now average… which means, you have met your New Year’s resolution. -Jay Leno

13. New Year’s Day is every man’s birthday. -Charles Lamb

14. Many people look forward to the New Year for a new start on old habits. -Author unknown

15. It wouldn’t be New Year’s if I didn’t have regrets. -William Thomas

The Companies Where Everyone Wants to Work

I do not have an URL of  this article. I have read somewhere else. Here I posted which I were read.

By Michael B. Sauter, Alexander E.M. Hess and Samuel

 

For the fourth year in a row, business students from around the world rated Google as the company they would most like to work for. The World’s Most Attractive Employers 2012 report, produced by employer branding firm Universum, asked tens of thousands of business students from the 12 largest economies in the world to identify where they would like most to be hired out of school from a list companies based around the world.

Included on the final list of the most attractive companies are major tech giants like Google, bank holding companies like Goldman Sachs and accounting firms like KPMG. 24/7 Wall St. analyzed company financials, brand valuations, and ratings of these companies by current employees to identify how they manage to be so attractive to potential employees. Based on Universum’s 2012 list, 24/7 Wall St. reviewed the 13 companies everyone wants to work for.

One factor many of these companies have in common is the fact that they have been able to market themselves as very innovative. In an interview with 24/7 Wall St., Camille Kelly, Vice President of Employer Branding at Universum, explains that this generation of students in particular prioritizes being on the cutting edge of technology.

“Innovation means to a student that there is going to be new challenges, and that they’re going to continue to be able to work on cutting-edge technology,” she says. Of the 13 companies identified as most attractive for prospective employees, five made the Thomson Reuters list of the 100 most innovative companies in the world. Kelly adds that in the case of Google, which did not make the Reuters list, the tech giant branded itself as a very innovative company.

By far, the industry with the most representation on this list is accounting. All of the Big Four accounting firms — PwC, Ernst & Young, Deloitte, and KPMG — are not only all on this list, but in the top ten. Kelly explains that accounting firms have been able to, despite the lack of glamour in their industry, successfully brand the business as well as their specific companies as attractive, lucrative places to work.

The 13 most attractive companies are, for the most part, also powerful global brands. Of the 13 companies voted as most attractive by the students, eight are on Interbrand’s 2012 list of the 100 most valuable global brands. BrandZ, which produces a similar list, also ranks seven of these 13 companies among the 100 most valuable global brands.

Kelly explains that “there is definitely a strong relationship between a strong consumer brand and a strong employer brand” because any prestige and stability are important to students. As a result, prospective employees are more likely to be attracted to companies with familiar products.

Being financially successful also appears to impact the degree to which companies are considered attractive. Most of the 13 companies reported healthy earnings and strong growth over the past several years. For example, Apple’s revenue has more than quintupled in the past few years.

These companies also tend to have highly regarded workplace environments. Companies like Apple, Google, and Ernst & Young, regularly receive accolades for being great places to work. According to a Glassdoor survey of employees, seven of these 13 companies are in the top 50 places to work in the U.S.

Based on the World’s Most Attractive Employers, a report by New York-based global employer branding firm Universum, 24/7 Wall St. identified the 13 companies students most-wanted to work for in 2012. We also reviewed Fortune’s 100 Best Companies to Work For and Glassdoor’s Best Places to Work in order to identify the best workplaces for current employees. We considered two studies on the value of the companies’ core brands, one by Interbrand and another by BrandZ. Additionally, we also considered information on the world’s most innovative companies from Thomson Reuters’ Top 100 Global Innovators. Revenue and profit listed for these companies was for the most recent full fiscal year.

1. Google
 

> Interbrand rank: 4
> Number of employees: 53,546
> Revenue: $37.9 billion
> Net income: $9.7 billion

Google tops the list of the World’s Most Attractive Employers, a position the company has now held for the past four years. The company also ranks first on Fortune’s 100 Best Companies to Work For, and it isn’t hard to see why. Fortune points out that the company’s headquarters, dubbed the Googleplex, contains bocce courts, a bowling alley and 25 cafes company wide. “Employees are never more than 150 feet away from a well-stocked pantry,” one Google employee told the magazine. The company is also generally known for its laid-back corporate environment, with one of the company’s philosophies, “you can be serious without a suit.” Employees, even those not at the top, have also reaped financial success. Software engineers at Google were paid a base salary of $128,336 in 2012, well above the average of $92,648 for all software engineers.

2. KPMG

> Interbrand rank: n/a
> Number of employees: 145,000
> Revenue: $22.7 billion
> Net income: N/A

For the third consecutive year, KPMG was named by business students as the world’s second most desirable company to work for, according to Universum. Of this achievement, Chairman Michael Andrew noted that “attracting top students into our

firms enables us to bring in the best talent, expertise and knowledge to our clients.” The company earned at least $20 billion in revenue in both fiscal 2010 and fiscal 2011 from its auditing , advisory, and tax services businesses. However, in its survey of top employers, Forbes ranks KPMG the lowest among the Big Four accounting firms.

3. Procter & Gamble

> Interbrand rank: n/a
> Number of employees: 126,000
> Revenue: $83.7 billion
> Net income: $10.8 billion

Procter & Gamble, the maker of household name products such as Crest toothpaste and Tide laundry detergent, has a host of job opportunities for business graduates in many of its departments. And P&G’s alumni have gone on to very successful careers. Prominent alumni include Microsoft CEO Steve Ballmer, General Electric CEO Jeffrey Immelt, and Hewlett-Packard CEO Meg Whitman. But the largest consumer goods company in the world has had challenges recently. Profit has declined for the last several years, and the company announced in February it planned to slash 5,700 jobs over a four-year time frame as part of a plan to cut $10 billion in costs.

4. Microsoft

> Interbrand rank: 5
> Number of employees: 94,000
> Revenue: $73.7 billion
> Net income: $17.0 billion

Alongside Apple, Google and IBM, Microsoft is considered one of the top five brands in the world by both Interbrand and BrandZ. The company, which offers widely-used products such as Windows, Xbox, Skype and Microsoft Office, has been a top choice among business students in each of the past three years, according to Universum.
 

Further, Microsoft has been listed in Fortune’s 100 Best Companies to Work For each year since 1998, although the company ranked just 76th in Fortune’s 2012 report. Additionally, the company had a mediocre quarter to begin fiscal 2013. Revenue in the first quarter fell by 8% and operating income fell by 26% year-over-year, while earnings per share fell from 68 cents in the first quarter of fiscal 2012 to 53 cents in fiscal 2013. The company’s stock has risen by 13.8% in the last 12 months, about the same as the S&P 500 index.

5. Deloitte

 > Interbrand rank: N/A
> Number of Employees: 193,000
> Revenue: $31.3 billion
> Net income: N/A

In each of the past three years, Deloitte has been one of the top five desired employers according to Universum, making the consulting group one of just three companies to achieve this distinction. The firm, which provides consulting, audit, tax and risk management services to clients worldwide, employs over 56,000 people and has annual revenues exceeding $13 billion in the U.S. alone. According to Fortune, which rates Deloitte as one of its 100 Best Companies to Work For, the average pay for a Senior Consultant, the most common position at the company, is more than $86,000. The company has received accolades for military hiring, LGBT equality and women’s advancement.

6. Ernst & Young

> Interbrand rank: N/A
> Number of employees: 167,000
> Revenue: $24.4 billion
> Net income: N/A

Ernst & Young is considered one of the Big Four accounting firms, but the company provides a whole host of services for a wide range of industries, including banking, oil and gas, technology, real estate and many others. Ernst & Young helps other companies meet its tax and regulatory requirements, but it also provides advisory services on strategy and raising capital, among others. The company has a presence in 140 different countries and has made considerable investments in emerging markets such as Brazil, China, India and parts of Africa. Forbes ranks Ernst & Young as The Best Accounting Firm to Work For in 2012, a survey that took into account both prestige and quality of life for employees.

7. PwC

 > Interbrand rank: N/A
> Number of employees: 180,529
> Revenue: $31.5 billion
> Net income: N/A

In each of the last three years PwC, has been rated by Universum as one of the world’s most desired employers among business students. Fortune also ranks the professional services firm as one of the 100 Best Companies to Work For. Among the reasons for PwC’s high ranking are the fully-paid sabbaticals and the mentoring program for expecting mothers. Employees also like working at PwC, which was named by Glassdoor as one of the 50 best places to work, as measured by employee reviews. The company, which provides auditing, assurance and tax services, among other offerings, has total revenues exceeding $31 billion.

8. JPMorgan Chase

> Interbrand rank: 32
> Number of employees: 259,547
> Revenue: $97.2 billion (net revenue)
> Net income: $19.0 billion

J.P. Morgan was able, to a large extent, to avoid devastation from the downturn of the housing market, unlike rivals such as Bank of America Merrill Lynch. The firm has emerged stronger than ever. While banks drastically cut headcount in the years following the financial crisis, J.P. Morgan has expanded its ranks, although much of that has come from acquisitions. Between the end of fiscal 2008 and fiscal 2012, J.P. Morgan increased its headcount by 65,000. People hold the company in high regard as well. A recent survey of 3,500 Wall Street professionals conducted by Vault ranked J.P Morgan Investment Bank as the best investment bank to work at in North America, a position it held last year as well.

9. The Coca-Cola Company

> Interbrand rank: 1
> Number of employees: 146,200
> Revenue: $46.5 billion
> Net income: $8.6 billion

As a brand, Coca-Cola is so famous that its core product has become a synonym for soda. According to Interbrand, the Coca-Cola brand is worth almost $78 billion and has “a name that is more universally recognized than any other in the world.” In addition to its brand, Coke identifies its people as the second of its two core assets, helping the company innovate and develop new drinks, new packaging, and new equipment. Employees also benefit from a company that is both exceptionally large, with operations in over 200 countries, and stable — as demonstrated by 50 consecutive years of dividend growth through 2011.

10. Goldman Sachs

> Interbrand rank: 48
> Number of employees: 32,600
> Revenue: $36.8 billion
> Net income: $4.4 billion

The image of Goldman Sachs has taken a hit in the last few years following several high- profile controversies. These included a Senate committee finding that the bank bet against collateralized-debt obligations it sold to clients, allegations that Goldman masked Greek debt, and a highly publicized resignation letter in the New York Times by now former executive Greg Smith. Still, the firm is generally regarded as the most prestigious on Wall Street. High compensation is certainly an appeal — of the largest banks, Goldman Sachs pays its employees the most. In the first six months of 2012, the company set aside $225,789 for each employee on average. Rival Morgan Stanley set aside $137,548 during that time, while J.P. Morgan investment bank set aside $184,989 for its staff. Goldman is also very exclusive. Almost 300,000 people applied for positions at the bank in 2010 and 2011, with a 4% acceptance rate, and the bank currently employs roughly 32,000 people.

11. Apple

(REUTERS/Lucas Jackson)> Interbrand rank: 2
> Number of employees: 72,800
> Revenue: $156.5 billion
> Net income: $41.7 billion

Apple connects with customers, and this is reflected in the company’s brand value. Interbrand rates Apple as the world’s second most valuable brand, behind only Coca-Cola, with a worth of over $76 billion. Apple has an even higher rating from BrandZ,

which assesses the brand’s worth at almost $183 billion — by far the world’s most valuable. Apple’s employees also think highly of the company. According to Glassdoor, Apple is the 10th-best place to work in the U.S. based on employee reviews. The company is both successful and innovative. Its stock price has risen more than 200% in the last five years, largely on the success of iPhone and iPad. The company has also been unafraid to make the necessary changes to keep its workforce happy. For instance, retail head John Browett was asked to leave after just five months on the job because new staffing formulas cut employees’ hours too heavily.

12. L’Oréal

> Interbrand rank: 42
> Number of employees: 68,900
> Revenue: $26.1 billion
> Net income: $4.2 billion

For the first nine months of 2012, L’Oréal reported a 10.9% sales growth from the same time period the year before. Discussing the company’s strong sales, Chairmen and CEO Jean-Paul Agon cited L’Oréal’s ability to innovate — an ability recognized by Thomson Reuters, which named the cosmetics company in its 2011 Top 100 Global Innovator report. Both Interbrand and BrandZ rank L’Oreal among the top 100 brands, meaning customers, too, appreciate the company’s products. Interbrand cited the company’s “dedication to research, innovation, and quality” as critical to its popularity. But the U.S. Food and Drug Administration has recently warned the company about some of its newest beauty products, saying these so-called cosmeceuticals blur the line between drugs and cosmetics, at least in their marketing claims.

13. BMW

(REUTERS/Pascal Lauener/Files)> Interbrand rank : 12
> Number of employees: 102,007

> Revenue: $88.4 billion
> Net income: $6.3 billion

BMW is a great company for business professionals, having been a top 15 desired employer in each of the past three years, according to Universum. The company is an even better workplace for aspiring engineers; BMW is the only non-tech company rated by Universum as one of the top-five desired workplaces for engineers. The BMW brand, one of the world’s most valuable, is “synonymous with class, performance and style,” according to Interbrand — qualities that likely make employees proud to work there. According to BrandZ, BMW is the most valuable car brand in the world. The company has also been extremely successful in recent months: unit sales in the third quarter of 2012 were up 9% year-over-year, leading to a growth of 16% in net profit compared to the year before.