9/11 Catastrophe In USA - Free Essay Example

Sample details Pages: 4 Words: 1298 Downloads: 5 Date added: 2019/10/31 Category History Essay Level High school Tags: 9/11 Essay Did you like this example? The event of 9/11 is a point in American history where we can point to as a change in Americas stance on international, national, and individual security. The basic definition of security is the state of being free from danger or threat. As a nation, this concept was put into question with the attack on American cities and citizens. Don’t waste time! Our writers will create an original "9/11 Catastrophe In USA" essay for you Create order Because of this attack, internationally we have the war on terror, and nationally the creation of Homeland Security. With these efforts to feel secure from dangers and threats, security needs to have backing from an economic source and work in harmony to achieve the goals set forth to solve the issue of security.     Ã‚  Ã‚   The war on terror is a global campaign started by the United States after 9/11 to draw attention to terrorism and combat the actors of terrorist attacks. The war on terror can be international cooperation between nations to solve terrorism or a campaign that promotes islamophobia and encourages violence against these groups. With international cooperation, you see that the countries willing to work together were already allies or share similar ideologies. The theory of liberalism suggest that countries will work together because they have a common goal and that cooperation is more likely to deter violence and war. If countries that are working together already have an allies you are not deterring violence or war you are only gathering allies to fight your enemy. The theory of realism suggest that countries work in an anarchic system and that there will always be conflict between nations. Western nations see the ideals of Islam as a threat to their cultural and beliefs. T his issue of islamophobia intensifies the realist concept because the west has this exaggerate fear of Islamic states and Muslim people that is carried out in the Iraq and Afghanistan conflict. Internationally the war on terror was an American campaign meant to not only protect security physically by engaging in military conflict overseas, but culturally by wanting to protect western cultural norms especially American culture.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Economically the war on terror would be an example of a soft and hard power. With the use of its large economy America was able to buy advanced military weaponry and fund military operations overseas to fight terrorism. Because, of the advantage of economic wealth compared to terrorist organizations lack of wealth, America was able to dismantle and decrease the size of terrorist organizations.   The United States would also implement executive orders and economic sanctions, while also getting rid of some sanctions. to deter the funding of these organization the Bush administration issued an executive order that would freeze the assets of named terrorist, terrorist groups, and fundraising organization.   By enforcing this executive order it cuts the terrorist group off from outside help and in turn weakens their ability to conduct terrorist attacks. With sanction the United States was willing to get rid of some or all of the economic sanctions that it put on countries to persuade them to join the war on terror. By doing this the United States used sanction as a carrot and sticks method. Should a country accept the offer they would be opening themselves up to the opportunity to engage in trade and boost their own economy. The Department of Homeland Security a cabinet under the Executive Branch was created after 9/11 to protect the American boarder, prevent domestic terrorism (terrorism committed on American soil), cyber security, disaster prevention and management, and lastly immigration and customs. Each of these issues were seen as a threat to American security. In terms of security, securing ones boarder should be one of the main focuses of a nation because free boarders allow anyone or nation to challenge not only your authority but your right as a sovereign nation. Should a nation challenge your sovereignty having a physical boarder allows front line protection. Securing the boarder is a priority of America because it boarders Canada in the north and Mexico in the south. Should Mexico or Canada decide to attack the United States the first places to come under attack would be the bordering states like New Mexico, Texas, and California. Another problem that America face domestically is immigration. America is one of the countries that has a high demand for immigration status and permits citizenship here. Immigrants are a big security risk because you can never truly know what their intentions are in your country; they may be here to start a new life away from persecution by their government or they may wish to harm American citizens. When you allow immigrants to live in your country you are taking the risk of putting your own people in danger to save another person who is not a citizen. Domestic terrorism is also a threat to American security because terrorism endanger the lives of civilians and are most often done to make a political statement. If the lives of citizens are in danger than not only is it a security issue it is an issue of power. On the side of economics Homeland Security would be seen as a hard power that enforces the soft sanctions and mandates that congress and the president passes. Homeland Security has many programs that are meant to disrupt the finances of terrorist like Cornerstone, National Bulk Cash Smuggling Center, Mass-Market Fraud, Project STAMP, and SEARCH Initiative.   The purpose of Cornerstone is to detect and close weaknesses within the U.S. financial, trade, and transportation section. If the United States closes these weaknesses it makes it harder for terrorist groups to receive money that would fund their terrorist activities, and receive weapons that are smuggled across borders. By doing this Homeland Security also has the opportunity to target key player in criminal organizations that fund these groups and provide them with products like drugs, weapons, and humans. If Homeland Security get rid of these criminal organizations it is basically killing the problem at it source because ter rorist groups cant function without an economical backing, just as the United States would not be able to function without its economic backing. To conclude the war on terror and the creation of Homeland Security is a result of terrorist Preserved threat to physical and cultural security. To combat the threat of terrorist America would create an overseas military campaign that targeted countries that had rich hotspots for terrorist activity. Through the use of asymmetric warfare America had the advantage of advanced technological weaponry, economical wealth, and backing from the international community. With advanced weapons like drones, fighter jets, and automatic guns America could target and eradicate terrorist groups and cells with efficiency and less time than combing the desserts by foot. With the economic advantage America doesnt have to rely on funding from an outside source and doesnt have the threat of their assets being frozen. Having backing from the international community would give America allies in their war on terror and allow them to operate in countries like Afghanistan and Iraq without actually declaring w ar on these states. The creation of Homeland Security would provide America would domestic security. This agency is tasked with protecting the boarders of America, the flow of immigration, and the securing of economical transaction. By securing the boarders of land, air and sea America is protecting it right to sovereignty from anyone person or group. Managing the flow of immigration is also important because it allow you to control who comes into your county and protect your citizens from threats that may wish to harm them. Protecting economical transaction is also important because you are cutting off the hand that feed terrorist and leaving them to starve and eventually die. Overall the war on terror and Homeland security are example of security and economics working in harm to solve a problem which is terrorism.

College Women Stop Getting Drunk and College Men Stop...

Sexual assault encompasses the criminal act of rape; however it seems as if many relative cases spawn from various alcohol encounters. In Emily Yoffe’s article â€Å"College Women Stop Getting Drunk,† she links both victim and perpetrator to alcohol. How can this cause be changed? Performing rape accidentally, or knowingly I do agree with Yoffe’s statement â€Å"Let’s be totally clear: Perpetrators are the ones responsible for committing their crimes.† In Yoffe’s article she covers both the perpetrator as well as the victim, though spending more time on the latter. I feel that perhaps an understanding of whether it really is a majority rule, where rapists are surveying the streets preying on unsuspecting women. According to Amanda Hess’s†¦show more content†¦Colleges are supposed to be places where young people learn to be responsible for themselves.† I find this slightly out of place, as haven’t students always been taught that learning environments should be safe? I understand that the big leagues are different from the minor leagues, but even still places such as UNLV have a place to for rape victims. Also Yoffe states that for most college students drinking are Illegal! Couldn’t authorities place higher priority on these incidents? Even to men as done by Ann Friedman in â€Å"College Men Stop Drinking† Unlike Yoffe, she tells her son to not get involved period. It has a more general tone suggesting not committing the act, or falling victim to it, covering two sides of involvement. Yoffe’s article on the other hand seems to fall in line more statistically with men being the assailant and women the innocent. She does mention men being victimized too though. Hess plays an intriguing card in her article, if this has been a problem even before women started binge drinking, then, why has the issue grown instead of diminishing, I also wonder though about the difference in male and female drinking. Perhaps this is stereotyping, but I wonder if women really do prefer the drinking glass with the olive versus the bottle or can of beer? Taking drinking capacity into mind, could a drink in Yoffe’s article be talking about Martini and Wine glasses or beerShow MoreRelatedThe Effects Of Alcohol Abuse On Alcohol882 Words   |  4 Pagesinto a college party, the first thing I see around me is alcohol. I often notice underage adolescents drinking and I also distinguish how they become different people when intoxicated by alcohol. They begin to walk funny and they tend to slur their words, making it hard to comprehend anything they are saying. I have watched family members who were so inebriated that they could not even spell their own name or e ven pinpoint who they were. 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(NationalRead More College Students and Their Lives of Drinking Essay3793 Words   |  16 Pagesmay use drinking as a form of socializing, but is it really as good as it seems? The tradition of drinking has developed into a kind of â€Å"culture† fixed in every level of the college student environment. Cus toms handed down through generations of college drinkers reinforce students expectation that alcohol is a necessary ingredient for social success. These perceptions of drinking are the going to ruin the lives of the students because it will lead to the development alcoholism. College studentsRead MoreLowering the Drinking Age1223 Words   |  5 Pagesâ€Å"What we’re doing now to prevent underage drinking isn’t working; it’s time to try something else.† Although many people argue that the National Minimum Drinking Age Act of 1964, which lowed the drinking age from eighteen to twenty one, was a good idea. 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Company mission and vision Free Essays

string(175) " With this in sight, the company is certainly ready for the approaching changes it needs to face as it approaches the new age of car and auto sales competition in the market\." The 1995 Auto Sales Inc managed to progress through the years from its actual beginning year. Most likely, this is because of the fact that the mission and vision of the organization supported its people towards the major idealism of helping the entire group in the industry progress towards development. To make the discussion much better understood, the following breakdown of the mission and vision of the organization shall be shown herein. We will write a custom essay sample on Company mission and vision or any similar topic only for you Order Now MISSION As a selling agent of second hand automobiles, the 1995 Auto Sales aim to serve the clients with the best deals available in the industry. To accomplish this particular mission, it is expected that leaders be able to apply their best strategies in creating much more creative approach in marketing as well as checking the quality of the products of the company that are disposed for the consumers. Such task requires a more comprehensive understanding of leadership and its effective application in the group. Leadership is a serious task that has to betaken by those who are able to understand the society in an objective way. Certainly, the idea of becoming a leader requires serious thinking.   Becoming a leader requires efforts that start with personal development and adjustments. There are numerous theories and practices that help the hopeful leaders in becoming the person that they want to be. In the paper to follow, a reflection on one’s ability and self-improving processes would be discussed in the view of the author of this paper. Being a leader is a serious task that requires serious effort and determination to adjust on the part of the person who wants to pursue on being a leader in his or her own field of interest. As Peter Northouse refer to leadership as a â€Å"change that would affect the whole personality of an individual†(2006, 16). It is not true that leaders are born, they are made. Through self-restructuring of themselves, the leaders of today have sprung out from actually being nothing to becoming influential personalities in the human society. How? Because of their determination to make a change to the society that rooted out from the changes that they had to make on themselves in the first place. This is the reason why in this paper, a self-examination process shall be utilized to learn the importance of self-adjustment in becoming a leader. Leadership is one of the most common practices that is found and applied on the different organizations around the world. The need for governance has mainly increased the pressure on institutions specializing in educating aspiring leaders with the needed skills that they are expected to have when they are already working on their own fields of interest. Leadership for many is a virtue learned through the experience of becoming great followers. It requires effort and ample time before it could be said to be the perfect way of showing leadership.   It could be obviously seen how much the people who are considered leaders in the world are viewed as exemplary people and not as people who knows only to command and drives other to work. When it comes to the business industry, the character involving refined leadership is a must to be possessed by everyone. Yes, as leadership itself has strongly affected the lives of many people in the business industry, it indeed is an important character. The idea of being a leader itself is never that easy. Though, through careful and patient learning in adjusting one’s self to be able to adapt to the necessary needed characters of a leader, a refined leadership is never that impossible to acquire. When it comes to the definition of leadership, many groups or organizations have their own view of the characters and responsibilities involved in being a leader. As for example,   House defines â€Å"leadership† organizationally and narrowly as â€Å"the ability of an individual to influence, motivate, and enable others to contribute toward the effectiveness and success of the organizations of which they are members† (House, R. J. 2004: page 15). Indeed, the success of the leader would naturally determine the success of the organization he or she is acquainted with. This is the main reason why many people tend to really deeply learn the art of leadership. Mainly aiming to alleviate the effectiveness of one’s leadership skills, leadership schools and courses were opened especially regarding the business industries. Certainly, with this thought and leadership implications considered within the process, the organization aims to develop as a more solid team that tries to deal with the challenges of the industry in a more strategic and comprehensive manner that would be best for the clients as well as for the organizational staff themselves. This is an obvious call for everyone to change towards the better and faster progress of the company aimed to help the organization in setting a better reputation among its clients in the market. With this mission statement stratified, it could be notes that the weight of the progress is relied upon the leaders of the different sectors of the organization and the cooperation of the entire team towards the progress procedures implemented by the said leaders. VISION With the effective application of strategic leadership and implicative approaches to the organization’s business operations, it is then expected that the performance of the entire team would be increased in terms of client satisfaction and personal job satisfaction as well. Everyone is rather hoped to have a strong trust within the new approach that would be used towards the aims of progress of the entire business in its concerned industry. Moreover, understanding of such issue in terms of company leadership is viewed as a huge step that would bring a great reputation of strength and loyalty to its clients in the market. The system concerned in the said manner of progression is indeed expected to increase the knowledge of everyone with regards effective leadership and tem work. With this in sight, the company is certainly ready for the approaching changes it needs to face as it approaches the new age of car and auto sales competition in the market. You read "Company mission and vision" in category "Essay examples" References: Finding and keeping good employees: DHI works toward proactive support programs. January 1, 2002. Doors and Hardware (Magazine/Journal). Michael O’Malley. (2001). Creating Commitment. John Wiley Sons, Inc.; 1 edition. Harvard Business School Press. (2003). Hiring and Keeping the Best People. Harvard Business School Press. Lin Grensing-Pophal. (2002). Motivating Today’s Employees (Business Series). Self-Counsel Press; 2nd edition. Riddle, John. (2001). Business Management. Adams Media Corporation. Avon, Massachusetts. Adams, Bob. (2000). Managing people: Lead your staff to peak performance. Adams Media Corporation. Avon, Massachusetts. Hiam, Alexander. (2001). Motivating and rewarding Employees: New and better ways to inspire your people. Adams Media Corporation. Avon, Massachusetts. Martinez, Esdras. (1998). Buisness Managements theories and practice. Rex books Publishing. Manila, Philippines. Jones, Gareth R. (2004). Contemporary Management. Irwin/McGraw-Hill; 4th edition. PART 2: POWERPOINT PART 3: Management and Its role in the Company (A Detailed Job Description for the Line of Management) Management of a diverse workforce has been one of the biggest problems that concern the human resources department of any type of company present in the business industries. Hence, it is just reasonable to say that at some points, some management teams may find it a difficult task as well. However, the author, John riddle says otherwise. According to him, â€Å"these are all factors of management that should be considered by good managers even before entering an organization† (113). Hence, this definitely means that avoiding diversity in the workforce may be impossible but giving a resolution to it is not that impossible. After all, there is still a common ground among the working force of each company no matter how diverse they may be it is that they are humans, which makes them capable of being dealt with and managed well. In this regard, John Riddle has suggested several points of consideration when dealing with such business problems. In general terms, he summarized the ways by which a good manager could handle the difficulties of dealing with a diverse workforce. The said suggestions are as follows:  · Concentrate on the strengths of the employees. When a manager discovers the tasks where the employees usually excel in, they should be assigned to them as they are expected to be more productive on those fields of the job.  · Understand the abilities and the potential of each employee present in the organization. These potential assets of the employees could as well be used by the company itself in aiming for the goals that it has set up for the future.  · Allow communication lines t be open at all times. It is very important for managers to be good listeners. The ability of hearing what the employees want form the company as well as to how they could be of bigger help to the organization could be used as a resource of ideas for the company as well.  · Make the employees feel that they too have a sense of authority in the company. However, this type of authority should not overstep that of the administration’s. It should be clear that this authority could only be exercised at specific times and places when it is permitted. This may often refer to an ‘open door’ policy that deals with an easier type of agreement between the employees, which could give them a chance to affect how the organization is being managed. They are then allowed to give suggestions; however, no suggestions are implemented unless approved by the administration.  · Make sure that all employees understand the business goals and objectives. It should always be remembered that a well-informed employee, whether young or old, is a productive employee.  · A manager should always remember that he is supervising people with feelings who are valuable members of the organization, hence, treating them with great respect at all times no matter what culture they come from is one of the most important virtue any manager could post as an example for his colleagues.  · Treating everyone fairly and sensitively is the key to creating a fine working environment. It should be remembered that because of the different clutters of the people, they all have different preferences; they have different personal obligations and other more. Considering the fact that dealing with multicultural workforce also involve dealing with their differences of belief, a manager could as well consider fairness at all times to be able to set a common ground for everyone else in the organization.  · Keep everyone else busy and going all the time. Feeling one’s worth is usually measured on the things they are able to do for the organization in a day. In this manner, it could be said that regardless of one’s difference from the others, being able to do something for the company and being of worth to the organization makes an employee feel that even though there are differences, he still belongs to the organization he is working for.  · Keep employees informed of the ins and outs of the organization. Keeping employees in the dark when some changes within the organization arise may give them the notion that they are not given importance by the administration of the company.  · Acknowledge the employees’ efforts, years of work, talent, creativity and good job attributes. Doing so would help everyone else strive for the best while they are working in the company. It could be noticed that the suggestions listed in here are general. Putting these suggestions into good use have mostly caused several companies to achieve unity beyond diversity in their own much diverse workforces. Hence, as Jones commented in his book â€Å"Contemporary Management†, â€Å"diversity is a normal part of modern management. Being globally distinct, it could not be avoided that dealing with different people everyday is a challenge to the modern managers today† (180). With these principles applied, it is expected that each manager be able to complete the necessary points of appointment they are given to be able to keep good employees for the company’s betterment in the future. References: Robert A. Levin. (2001). Talent Flow: A Strategic Approach to Keeping Good Employees, Helping Them Grow, and Letting Them Go. Jossey-Bass; 1 edition. Thomas J. McCoy. (1996). Creating an â€Å"Open Book† Organization: Where Employees Think Act Like Business Partners. AMACOM Publishing. J. Regis McNamara. (1986). Critical Issues, Developments, and Trends in Professional Psychology: Volume 3 (Professional Psychology Update). Praeger Publishers. Graham Edkins. (2004). Innovation and Consolidation in Aviation: Selected Contributions to the Australian Aviation Psychology Symposium 2000. Ashgate Publishing. Raymond Andrew Noe. (2004). Employee Training and Development with Powerweb Card 3/e. McGraw-Hill/Irwin; 3 edition. Jerome H. Barkow. (1995). The Adapted Mind: Evolutionary Psychology and the Generation of Culture. Oxford University Press, USA; Reprint edition. How to cite Company mission and vision, Essay examples

Globalization National Systems and Multinational Companies

Question: Discuss about the Globalization National Systems and Multinational Companies. Answer: Introduction Culture refers to norms, knowledge, beliefs morals customs and habits acquired by individual members of society. Cross-culture, on the other hand, is a phenomenon that arises due to market globalization, (Tung, 2008). International businesses operate in a vast range of countries possessing variable cultures. This creates a cross culture environment, making it necessary to devise more appropriate ways of executing performance management, (Harzing Pinnington, 2010). Cross-cultural management occurs in a cross-cultural environment whereby the employees arise from different and unique backgrounds and cultures. Cross-cultural performance management As explained by Deresky (2014), performance management is the whole process of developing a shared understanding of what the entity needs to accomplish and how it would achieve it. It involves efficiently managing employees, through constant evaluation and appraisal with the aim of increasing the probability of success of the business. Global companies operate between different cultures. The human resource managers of these enterprises should, therefore, be well versed with this type of performance management to function appropriately. Geert Hofstedes views of organization culture. The cultural framework brought out by Hofstede has been broadly accepted as a unit for measuring the variations between nations. It has grouped the cultural dimensions into two categories including motivational orientations and relations between people, (Taras, Kirkman Steel, 2010). Some of the aspects of this framework include uncertainty avoidance, Collectivism, and individualism, power distance, masculinity, and feminine. Individualism mainly refers to the tendency by which individuals take care of themselves or tend to maintain some groups within their families. This aspect is measured using the individualism index, (Minkov Hofstede, 2011). Everyone has a tendency to take care of themselves and their adjacent families. Masculinity comes into consideration due to differences in emotions between genders. Uncertainty avoidance explains why individuals remain comfortable or uncomfortable in unstructured conditions. The human resource managers must evaluate the risk avoidance indexes between cultures to come up with a clear performance management strategy. The members of the company working in different locations expect that power should be distributed equally. This concept is viewed using power distance, (Taras, Kirkman Steel, 2010). Managers must evaluate the power distance between employees in different ranks when conducting performance management. Challenges faced in cross-cultural performance management process. According to Tung (2008), human resource managers may find it difficult to manage employees in situations where there is high uncertainty avoidance. This is because employees with this type of culture will be unable to exploit their full performance due to their tendency to avoid risk. The meaning of return varies between different cultures. The human resource managers may, therefore, use wrong or irrelevant performance indicators in their evaluation, (Bratton Gold, 2008)). Some cultures tie performance to profits while others tie performance to customer satisfaction. The managers should, therefore, come up with a clear guideline for measuring performance and make this known to the employees. Rewarding employees in cross-cultural businesses is not easy. This is caused by different working cultures experienced by employees working in various locations, (Boxall, 2011). The managers may, therefore, be unable to formulate a standard method of rewarding employees as a way of boosting performance. There may be difficulties in distinguishing cultural norms from the business arrangements. This may make managers mistake individual values to the methods of the company, (Deresky, 2014). The managers should always be aware of the cultural values and beliefs and separate them from the values of the organization. Theories of performance management Various models can be used to explain employee performance. These arguments are based on the assumptions that employee performance is influenced by several factors. In case of personnel management, some of the principles that can be used to evaluate employee performance are as follows. This argument was brought forward by Edwin Locke in 1968. It suggests that the personal goals set by the workers in a firm play a major duty in motivating the employees to achieve superior performance, (Drowling, Festing Allen, 2013). This is mainly because the employees set their individual goals and keep following them. Whenever the goals are not attained, they would either revise them or totally come up with new goals. The employees are also able to adjust these targets to suit their capabilities. Multinational companies have a range of employees in their branches or subsidiaries in different countries. These employees have different abilities, influenced by their culture and norms, (Shen, Chanda, D'netto Monga, 2009). The human resource managers should, therefore, consider the cultural differences and capabilities of individual employees in executing performance management. They should also take into account the individual goals set by these employees as these targets act as vital motivating factors to the employees. Expectancy theory This theory was postulated by Victor Vroom in 1964. It is enshrined on the assumption that the workers modify their behavior in the firm by the expected goals they set. The workers always adjust their actions in a way that would most likely enable them to accomplish the set goals, (Guest, 2011). This theory is an appropriate measurement of performance management as it gives clear guidelines to improved performance based on the expectations of individuals. The human resource managers of multinational companies should always bear in mind; the expectations brought forward by the employees when executing performance managed. They should view this as the primary determinant of the success of the company, (Deresky, 2014). Since the company holds branches in different global locations, the managers should consider the variations in culture and norms of work that may affect the employees, making them unable to adequately satisfy their expected achievements, (Guest, 2011). Employees from different locations should be treated differently to determine their potentials and overall performance. Soft and hard models International human resource managers may apply either soft or hard model in managing employees, and general performance of employees in a business. The hard model is based on setting stringent rules and goals to be met by the employee (Kopelman, Prottas Falk, 2010). It builds on theory X. on the other hand, the flexible model adopts communication and individual motivation of the employees to improve performance. It is based on theory Y, and views employees as self-motivated and ready to work to achieve the organization goals, (Pant Baroudi, 2008). The theory X views employees as lazy and unable to meet the required level of performance unless stringent rules and policies are put in place, (Kopelman, Prottas Falk, 2010). It advocates for setting of goals to be achieved by the employees. Firms do not specialize on one theory when determining employee performance. They employ a combination of these approaches so as to evaluate the workers properly. Co-Cola Company According to Signh, Arunachalam Rajagopal, (2011) this is an American Multinational corporation that deals in Beverages and non-alcoholic drinks. Its headquarters is in Atlanta, Georgia, with more than 129200 associates worldwide, and therefore considered a mega-provider of multicultural business opportunities. Some of the subsidiaries of this company include; Energy Brands, Coca-Cola Enterprises and Minute Maid, (Singh, Arunachalam, Rajagopal, 2011). This company conducts its business globally, distributing soft drinks, syrups, and concentrates. It, therefore, holds an international human resource management system that performs, recruitments and training, the motivation of employees and performance management and appraisal, making it the best example for use in this essay. Models used by the Coca-Cola Company According to Singh, Arunachalam, Rajagopal (2011), this company uses personal goal setting to align their reward systems and practices with performance in the market. It has an objective to make its employees feel motivated, comfortable and satisfied to perform towards fulfilling the objects of the company. This strategy enables employees to work towards attaining these aims. This ensures that they become more competent to perform the tasks laid in the organization to satisfy the vision and mission of the entity and compete effectively with other companies. The company uses different rewarding systems to compensate its employees, ranging from a commission, monthly wages, and salaries. This makes the workers more dedicated to work and beat the competitors, (Singh, Arunachalam, Rajagopal, 2011). It has systems like grade jump, which enables it to rank its employees effectively, annual incentive plan used for business performance; personal progress report used to outline the progress of employees, monthly turn hall for recording extraordinary performance and change designation systems. Individual measurement systems The company follows the GROW and WHALE DONE approach to measuring the performance of the employees. The GROW method enables the workers to know the level they want to be at, and which actions to undertake to reach such levels, (Singh, Arunachalam, Rajagopal, 2011). The performance management is a continuous system since it is done yearly or quarterly. There are also daily, and monthly reviews carried out by the managers to ensure they keep track of the performance of the enterprise. Conclusion In conclusion, proper performance management in the cross-cultural business environment is the key to success of global companies. The study of global human resource administration provides students essential skills and knowledge managing international businesses. Students who accomplish this course can, therefore, become better personnel managers of multinational companies like Coca-Cola. References Boxall, P., Purcell, J. (2011). Strategy and Human Resource Management. Palgrave Macmillan. Bratton, J., Gold, J. (2012). Human Resource Management: Theory and Practice. Palgrave Brewster, C., Wood, G., Brookes, M. (2008). Similarity, Isomorphism or Duality? Recent Survey British Journal of Management, 19(4), 320-342. Deresky, H. (2014) International Management: Managing Across Borders Cultures, Text andCases, 8th Edition. Pearson Education Australia. ISBN: 978-0-273-78705-1. Dowling, P.J., Festing, M. Allen, D.E. (2013). International Human Resource Management. 6th Edition. Melbourne: Cengage Learning. Edwards, T., Rees, C. (2011). International Human Resource Management: Globalization National Systems and Multinational Companies, 2nd Edition, Pearson Guest, D. E. (2011). Human Resource Management and Performance: Still searching for some. Human Resource Management Journal, 21(1), 3-13. Harzing, A., Pinnington, A. (2010). International Human Resource Management, 3rd Edition, SAGE Publications Ltd. ISBN: 9781847872937 Kopelman, R. E., Prottas, D. J., Falk, D. W. (2010). Construct Validation of a Theory X/Y Behavior Scale. Leadership Organization Development Journal, 31(2), 120-135. Minkov, M., Hofstede, G. (2011). The evolution of Hofstede's Doctrine. Cross-Cultural Management: An International Journal, 18(1), 10-20. Pant, I., Baroudi, B. (2008). Project Management Education: The Human Skills Imperative. International Journal of Project Management, 26(2), 124-128. Shen, J., Chanda, A., D'netto, B., Monga, M. (2009). Managing Diversity through Human Resource Management: An International Perspective and Conceptual Framework. The International Journal of Human Resource Management, 20(2), 235-251. Taras, V., Kirkman, B. L., Steel, P. (2010). Examining the Impact of Culture's Consequences: A Three-decade, Multilevel, Meta-analytic Review of Hofstede's Cultural Value Dimensions.Journal of Applied Psychology, 95(3), 405. Singh, K. P., Arunachalam, H., Rajagopal, S. (2011, January 4). PerformanceManagement at Coca-Cola. Retrieved January 6, 2017, from Scribd.com Website: https://www.scribd.com/doc/32509104/Performance-Management-at-Coca-Cola Tung, R. L. (2008). The Cross-cultural Research Imperative: The Need to Balance Cross-national And Intra-national Diversity. Journal of International Business Studies, 39(1), 41-46.

Communication and Leadership A discussion

Introduction In the academia, there has been a growing interest in the leadership literature and its relations with communication, especially after the realization by scholars and practitioners that effective leadership is still principally dependent on communication (Barrett, 2006).Advertising We will write a custom essay sample on Communication and Leadership: A discussion specifically for you for only $16.05 $11/page Learn More An assessment conducted by Aziz (2003) shows that proficiency in communication enhances leadership skills and competencies, as well as business credentials. Drawing on the leadership and communication competencies of Oprah Winfrey, an American media owner, talk show host, performer, producer and philanthropist, the present paper purposes to illuminate why effective communication is so fundamental for effective leadership. Justifications for Selecting Oprah Oprah Winfrey is an effective leader and good communicator, if her achie vements in the media and contributions to the global society are to receive consideration. In terms of being an effective leader, it can be argued that the celebrity has demonstrated transformational, charismatic and servant leadership competencies not only in the process of touching and changing the lives of her viewers for the better (Klenke, 2002), but also in leading them by example (Aziz, 2003). Her empathetic and caring personality, excellent communication skills, capacity to get along well with people of diverse backgrounds, and outstanding mediation skills qualify her to be one of the most effective leaders globally (What Oprah Knows, 2014). In the context of being a good communicator, it can be argued that Oprah’s communication is process-oriented and effective in meeting the set goals, not mentioning that the celebrity collaborates well with others by gesturing and listening conscientiously as her guests in the talk show communicate their unique needs (Klenke, 2002) . Discussion In almost all of the organizations aspiring to remain competitive in today’s turbulent business environment, leaders and managers must spend a considerable portion of their daily engagements communicating with customers, employees, supervisors, suppliers, owners, and other relevant stakeholders. Consequently, the very basis of effective leadership is having the right kind of skills to successfully and effectively communicate with these stakeholders (Barrett, 2006). As an example, it can be argued that the sheer amount of time that Oprah Winfrey spends communicating with her viewers, employees and other stakeholders underlines how significant strong communication skills can be for her, especially in terms of advancing her leadership position. In this light, it is clear that having effective communication skills should be a seminal responsibility for leaders if they expect to broaden their scope in effective leadership.Advertising Looking for essay on communic ation strategies? Let's see if we can help you! Get your first paper with 15% OFF Learn More Walker (2004) argues that effective leadership is about managing diversity, which is impossible to do in the absence of effective communication. Although Oprah meets with individuals from diverse backgrounds in terms of age, status, culture, ethnicity and gender, she is able to demonstrate effective leadership through effective communication with these individuals, especially through an accurate analysis of the audience, structuring communication, and listening attentively to her audience (Barrett, 2006). Cases abound of highly qualified managers in global companies, who are unable to effectively manage racial or ethnic diversity in the workplace due poor communication skills. Such managers, in my view, cannot qualify to become successful leaders, thus the explanation as to why effective communication is so important for effective leadership. Drawing on the available leadership lite rature, there appears to be a tangible relationship between good communicators and charismatic leaders in the sense that most charismatic leaders have well developed communication skills and competencies (Barrett, 2006). Going back to Oprah’s case example, it is beyond doubt that the celebrity is an effective charismatic leader due to her capacity to connect with her audience while communicating (What Oprah Knows, 2014), and also as a result of communicating with her image and persona (Klenke, 2002). Consequently, it is possible to progress the argument that Oprah has become a hugely effective leader due to her capacity to use different avenues to communicate to her audience. These communication avenues endear followers to their leaders, hence facilitating an environment through which effective leadership can be achieved. Barrett (2006) acknowledges that â€Å"good communication skills enable, foster, and create the understanding and trust necessary to encourage others to fo llow a leader† (p. 385). Oprah has been hugely successful as a leader owing to the understanding and trust she has cultivated in her viewership over the years (Klenke, 2002), not mentioning that her perceived self-efficiency and transformative personality has helped her a great deal in securing the understanding and trust she continues to enjoy from viewers (What Oprah Knows, 2014). The most important point for this discussion, though, is that a manager cannot become an effective leader in the absence of effective communication skills, which have been found to reinforce the above mentioned attributes.Advertising We will write a custom essay sample on Communication and Leadership: A discussion specifically for you for only $16.05 $11/page Learn More In business contexts, the only way to get things done with and through people is by effectively communicating your decisions to those concerned, implying that communication is essential in any leadershi p endeavors. Indeed, effective communication involving the context, sender, message and receiver must be present if the leader is to purposively transfer meaning, with the view to influencing a single individual, group, organization or community (Barrett, 2006). In her shows, for example, Oprah is able to purposively transfer meaning by not only putting her audience in the right context, but also connecting with them using a multiplicity of communication skills (Klenke, 2002). This way, the celebrity is able to change her viewers in manifold ways, thus demonstrating effective leadership. Lastly, Barrett (2006) is of the view that â€Å"leaders need to be able to analyze an audience in every situation and develop a communication strategy that facilitates accomplishing their communication objectives† (p. 386-387). In the absence of insufficient communication skills, therefore, leaders may never be in a position to develop an effective communication strategy aimed at addressing the audience, thus may fail in their work as effective leaders. It also follows that a firm with a disjointed communication strategy many never achieve its set objectives due to underlying poor leadership, hence underlining the need to maintain a positive relationship between effective communication and effective leadership. Conclusion Overall, this exposition has successfully demonstrated that having the capacity to communicate effectively is a primary determinant in the process of allowing an individual to move into a leadership position, and that the person who gets ahead in leadership is one who develops the capacity to communicate effectively with the view to making sound leadership decisions and getting things done with and through people. The discussion advanced in this paper not only demonstrates the difficulties involved in attempting to divorce effective communication from effective leadership, but also provides clear examples of how Oprah Winfrey has employed effective co mmunication skills to be successful in leadership. It is therefore incoherent to assume that effective leadership can be achieved in the absence of effective communication skills and competencies. References Aziz, K. (2003). Effective communication: The key to successful leadership. Development and Learning in Organizations, 17(5), 7-9.Advertising Looking for essay on communication strategies? Let's see if we can help you! Get your first paper with 15% OFF Learn More Barrett, D.J. (2006). Strong communication skills a must for today’s leaders. Handbook of Business Strategy, 7(1), 385-390. Klenke, K. (2002). Cinderella stories of women leaders’ connecting leadership contexts and competencies. Journal of Leadership and Organization Studies, 9(2), 18-22. Walker, R. (2004). Leadership: A communication perspective. Women in Management Review, 19(1), 65-68. What Oprah knows for sure about communicating. (2014). Retrieved from http://www.oprah.com/spirit/what-oprah-knows-for-sure-communication This essay on Communication and Leadership: A discussion was written and submitted by user Annabelle Stevenson to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

An analysis on the relevance of published financial statement to decision makers in Zimbabwe. Essays

An analysis on the relevance of published financial statement to decision makers in Zimbabwe. Essays An analysis on the relevance of published financial statement to decision makers in Zimbabwe. Essay An analysis on the relevance of published financial statement to decision makers in Zimbabwe. Essay Faculty of commercialism Department of accounting and it Chapter one Subject: An analysis on the relevancy of published fiscal statement to determination shapers in Zimbabwe. ( A instance survey of econet radio Zimbabwe ) SUBMITTED IN PARTIAL FULLFILMENT OF THE REQUIREMENT FOR BACHELOR OF COMMERCE HONOURS DEGREE IN Accounting Chapter: 1 Introduction Fiscal statements are the most widely used and most comprehensive manner of pass oning fiscal information about a concern endeavor to users of the information provided in the studies. The chief aim of fiscal statement is to supply the proprietors and investors, authorities, employees, Tenders, providers, clients, investing analysts and the populace to look into the public presentation of an endeavor ; comparison and contrast past public presentation to current public presentation of the organisation Moskowitz ( 2000 ) The user groups have a assortment of specific information demands and merely particular purpose fiscal statement may hold the ability to turn to those demands. The Accounting model ( par. 10 ) acknowledges that fiscal statements can non run into the demands of all these users, but argues that the proviso of fiscal statement that meet the demands of investors will besides run into most of the demands of other users. research has extensively examined the relevancy of accounting informations in order to measure the utility of fiscal statements to the users Papadaki and Siougle ( 2007 ) . Published fiscal statement is defined as relevant if it has a predicted association with equity market values. The survey was designed to measure whether the corporate studies are relevant in supplying information that is utile to the determination shapers. Barth et Al ( 2001 ) . 1.1 Background of the survey In recent times the demand for proper corporate fiscal revelation of listed companies was increasing and the failures of big companies registered on the most of import stock exchange have exerted excess force per unit area on listed companies and standard compositors for the betterment of the quality of corporate coverage. The stock exchange committee stated the diminution in subject in corporate one-year coverage and imperativeness release to the absence of capacity at the Zimbabwe stock exchange from 2007.The consequences of the IFRS reappraisal for the published infusions of fiscal describing provinces that the coverage entity do non expose consistence and sometimes look to describe subjective information on which the reader is supplied with information that satisfy their direction aims. hypertext transfer protocol: //www.africair.com/2012/08/09/pu. It besides states that some companies are non following with the IFRS. A figure of accounting and concern failures recorded around the universe have promoted unfavorable judgment on accounting. The determination shapers have been in a figure of lay waste toing losingss due to accounting dirts and bankruptcy in companies which they have stockholding. These state of affairss might be that the corporations have supplied inaccurate information to the determination shapers. The recent accounting dirts have led to the loss of assurance in fiscal coverage pattern and effectivity of corporate administration mechanisms Bartley 2002 ; Browning 2002 ; O’Connell, et Al. 2005. Even though enterprises have been put frontward to better the quality fiscal coverage, it is clear that the quality fiscal coverage is sometimes biased. In pattern, as can be witnessed by a figure of accounting dirts and bankruptcies, some companies are still printing low-quality fiscal studies and supply misdirecting information to the populace. The quality corporate fiscal coverage remains the dream of most comptrollers. It seems to be a myth that the world of fiscal coverage is different from what people presently believe. However, we have instances whereby companies window dress their histories to do it attractive to investors to purchase portions or put in their companies, which in bend consequences to either loss or prostration of the company at the terminal of the twenty-four hours. The ground for revelation of accounting information is to inform the stockholders on the fiscal deductions and effects of the departures on in the organisation. 1.2 Statement of the job Zimbabwe Stock Exchange is sing a batch of overreaction by irrational investors who have no footing for their determinations despite the published fiscal statement ; it was observed that determination shapers are drawn into the market in a sort of bandwagon consequence, nevertheless the inquiry that begs to be answered is whether investors can trust on fiscal statement information for investing determination devising intents in Zimbabwe. 1.3 Aims of the survey The chief aim of this research work is to analyze the relevancy of published one-year studies of listed companies to determination shapers. The specific aims of the survey are: To analyze the extent to which fiscal studies are used in measuring the overall public presentation of the company. To determine if there exist other finding variables apart from the information provided in one-year studies and histories that influence their investing determination. To determine insufficiencies if any with the current revelation practiced in corporate coverage in Zimbabwe. 1.4 Research Questions To supply a usher in the behavior of the survey the undermentioned inquiries are raised: To what extent are fiscal study used in measuring the overall public presentation of the company? Are one-year study and histories adequate in act uponing thebuy, clasp and sell determination of investor. Are at that place other variables that inform the determination of stockholders to purchase, keep and sell equities? Are there current revelation patterns in corporate coverage in Zimbabwe adequate? 1.5 Significance of the Study The significance of this research work is to give an empirical analysis of corporate one-year study and history and its relevancy to users of fiscal statements. The research would give the research worker a comprehensive apprehension on how fiscal statements can be used by users to do informed judgement and determinations. The survey is besides extremely important to stakeholders as they need accurate information to foretell future public presentation by placing the factors in fiscal study. This work will decidedly add to the organic structure of bing cognition and a usher for other research workers who will transport out research on this capable affair, peculiarly in countries that will non be addressed in the survey. 1.6 Explicating Hypothesis Establishing on the statement of the job, the undermentioned void hypothesis were through empirical observation formulated and tested on the analysis of the relevancy of one-year studies to the determination shapers. H0:That published fiscal statement has no importance in the investors’ determination devising. H1: That published fiscal statement has greater importance in the determination devising by the users. 1.7 Premises The research is traveling to be successfully carried out in the allocated clip The information gathered from samples, respondents and any other beginning will be right Econet Wireless Zimbabwe will run on a traveling concern construct therefore operate in the foreseeable hereafter Datas from respondents will be equal to infer findings and decisions 1.7 Boundary lines This survey is limited to the published fiscal statements and their relevancy to users of fiscal statement, with particular mention to Econet Wireless Zimbabwe, Masvingo and shall cover the period of 2010 to 2013. The population comprised all stakeholders. From the population, a sample of 30 was obtained through the simple random choice technique. 1.8 Restrictions of the survey This survey has been undertaken in malice of the cynicism that dogged the survey right from the construct which constituted restriction to the research worker and these are: Due to the high degree of confidentiality in the administration nowadays non all beginnings relevant to this research is accessed. However the research worker resorted to the usage of other beginnings of information like the accounting manual. Some respondents were non being able to react freely due to work committednesss therefore the research worker followed them in order to entree the information. Secondary informations contained some elements of prejudices so on this regard the research worker put more trust on primary informations. Several disbursals were involved in this work therefore there was limited resources available to the research due to hapless economic status that was non adequate to take attention of high transit cost, letter paper, public dealingss and cost of typing this work and binding. Budget Item Unit of measurement Monetary value sum quantity/trips $ $ printing, photocopying and typing 3 20 Conveyance 7 12 72 telephone charges 1 50 Stationery 20 sundry disbursals 50 Entire 212 The research worker will seek contributions from the administrations and besides beginning financess from relations and friends to finance the research procedure budget. 1.9 Definition of footings Accounting: This is the presentation of consistently developed and accurately recorded fiscal studies about an entity engaged in economic activity to users of such study, reading and analysis of such study to accomplishing their assorted demands. Annual Report: Is a elaborate study on a company’s operations throughout the preceding twelvemonth. This is intended to give stockholders and other stakeholder’s information about the company’s activities and fiscal public presentation. Investors: They are the proprietors of the concern and they need fiscal information to measure the effectivity of the direction in running the concern and the likeliness of hazard if any. Accounting Standards: In a nutshell, these are regulations which indicate the footing of recording, presentation or valuing an point. Relevance: Fiscal statements: these are paperss prepared by the direction of the company to pass on its public presentation to the stockholders and other users Investing ; this means the forfeiture of the present resource for the hereafter. It is the committedness of present resources for future return. Information-these can be said to be the facts needed or received by a individual, or group of individual, or group of individuals which is or will be utile to them. Decision making- can be defined as placing options, measuring such options and taking from such options. It can be viewed as the really cloth of which organized activity is made. 1.10 Organization of the survey Chapter one concentrated on a brief description of the background to the survey, statement of the job, aims of the survey, research premises and boundary line of the survey and ends with an administration of the survey. Chapter two will concentrate on reappraisal of related literature. It focuses on old work done by others authors and research workers on the relevancy of published fiscal statements . A survey of this magnitude required a thorough and critical rating of relevant literature centred on the undermentioned constructs of the job: the empirical reappraisal and justification of the survey. Chapter three will look at the research methodological analysis used in the research procedure and the justifications thereof. The chapter will concentrate on the research design, instance survey, study method, population and sample, questionnaires, interviews, cogency of the instruments and dependability of the instruments. Chapter four will concentrate on informations presentation and treatment of the research findings on the research subject. It analyses the primary informations in the signifier of responses from questionnaires and interviews, and besides secondary informations. Chapter five will show the sum-up, decisions and recommendations. These summaries the major concerns of the research survey as highlighted in chapter one, methods used and the deductions of the findings, besides presenting inquiries for future research. 1.11 Chapter sum-up Research subject was drawn, followed by a brief background of the job. Steering inquiries were outlined. Restrictions and operational definitions were given. The following chapter, which is chapter two, seeks to appreciate what other writers are traveling to state theoretically and through empirical observation about the relevancy of published fiscal statements to the determination shapers

Personal Wellness Living Plan Article Example | Topics and Well Written Essays - 500 words

Personal Wellness Living Plan - Article Example Personally, my goal is to work on reducing my body weight from currently 170kg to 80kg. This is a hard task, and for me to achieve it, a lot of disciple and advice from health officials will be very vital. One can reduce weight in many different ways. However, before resorting anyone of them, it is critical to consult medical practitioners to advise you on the best method suitable for you. Health experts have always advised that eating a healthy diet is one of the best ways to reduce the body weight (Moreno 48). Healthy weight reduction takes time and energy, but simple changes in the lifestyle like eating a healthy diet can greatly help in the process. Keeping proper food and exercise diary will be key for me to achieve my goal. A regular workout regime will be developed, and my diet is modified according to my doctor’s advice so as to achieve a healthy weight loss. The implementation of this plan will not be easy as I will have to adjust to some routines that I was never used to before. Having to eat fewer carbohydrates will specifically be tough for me as some of my favorite meals fall in this category of foods. To overcome all these difficulties, I will count on the support of my family members. They will play a big part in my transformation process, offering moral support and guidance. Despite all the challenges I am likely to face in my dream to lower my body weight, my motivation is to reduce the risks of getting high blood pressure and other diseases related to body weight.

Case Study of Supply Chain Management in Larsen & Toubro Ltd Essay

Case Study of Supply Chain Management in Larsen & Toubro Ltd - Essay Example In fact, some of the most amazing business successes in the past 20 years are direct results of finding more efficient supply chains in delivering products to customers. Supply chain management emerged only a decade ago together with the emergence of the word "supply chain" in the business scene. This development started from the business world's recognition of the importance of integrating and managing the processes within a business entity. The new revolution in supply chain management significant changed business processes and introduced radical revolutions which promote the operation efficiency of companies and gain competitive advantage in their respective industries. Perhaps, the most successful in revamping its supply chain is Dell Computers. In fact, supply chain management is often referred to as the Dell's model (Cavinato, 2002). Currently, supply chains generally perceived as the "proper blending of physical resources with financial, informational, and relational resources-all within the strategic context of competing in the marketplace (Cavinato, 2002)." Experts argued that there is no "one size fits all" supply chain and that different businesses need to employ unique business models to run their operations. The shift in business model necessitates major changes in a comp... The first section will give a brief profile and background of the company. Next, it will look at the costs of shifting to a more streamlined value chain. Afterwards, it will explore the importance of technology in the new supply chain as well as its long-term collaboration with its supplier's to the system's efficiency. An analysis of the material procurement system of the ECC will be presented. The paper will end with its findings and recommendations. The Company: Larsen and Toubro Limited (L&T) L&T traces its origins by the partnership formed by two Danish engineers Henning Holk Larsen and Soren Kristian Toubro in 1938. The firm is engaged in the manufacture of a wide array of engineering products, earthmoving equipment, chemical and industrial machinery, switchgear valves, welding alloys and cement manufacturing machinery. The ECC division of L&T handled the turnkey industrial and infrastructure projects in civil, mechanical, electrical and instrumentation engineering as well as turnkey construction services. The division is headquartered in Chennai and has operations dispersed in other countries like UAE, Bangladesh, Sri Lanka, Malaysia, and South Africa. The company's thrust of utilizing a business model to integrate the division's operations into a more cohesive one is the driving force in revamping the company's supply chain. From its manual operations, the company opted to employ a web-based SCM solution which took advantage of the recent trend in the information and communication technology (ICT) sector. Thus, the company was able to streamline its supply chain and boost the efficiency of its operation. Challenges in Integrating

Basic law Essay Example | Topics and Well Written Essays - 1000 words

Basic law - Essay Example A substitution might be necessary if the court decided a litigation guardian did not act in the best interests of the minor (Queen’s Bench Rules 2008). 5. The burden of proof in this case is carried by Gina Shez Maria Sobello, Jai Desmond Sorbello and Andre Giovani Sorbello. 6. The test of intention leads the court to the statement that it is permissible to have regard to the subsequent conduct of the parties for the purpose of ascertaining whether the intention to be attributed to them was to make a binding agreement or otherwise. 7. The common law presumptions the courts rely upon in deciding if the parties intended to be legally bound is that in social or domestic situations legal relations are not intended. In a business context, however, the courts will presume that the agreement was indented to be legally bounding. In relation to social cases such presumptions can be rebutted in an attempt to show that there was an attempt for legal relations (Online Legal Coach 2008). 8 . The English case mentioned in the process is Balfour v Balfour[1919] 2 KB 571; 35 T.L.R. 609 , King's Bench: a husband who worked abroad promised his wife who in England to sent 30 pounds monthly. Then they divorced and she brought that action for the money he promised to her but didn’t pay (Balfour v Balfour [1919] 2 KB 571; 35 T.L.R. 609). 9. The Queensland case cited in the judgment is Riches v Hogben [1986] 1 Qd R 315: a man agreed that his mother would give him a house in Australia if he moved there to take care of her. The family gave up his rent-free house, sold a car and other belongings to depart to Australia on time. The mother bought a house, however, did not put it in his name, but on hers, and made the man’s family leave her house. The son then sued in order to enforce the contract with the mother. The Full Court, however, found the contract unenforceable (Heffey, Paterson and Hocker 1998). Mullins J refers to Riches v Hogben stating that â€Å"It is pe rmissible to have regard to the subsequent conduct of the parties for the purpose of ascertaining whether the intention to be attributed to them was to make a binding agreement or otherwise† (Sorbello & Ors v. Sorbello & Anor [2005] QSC 219) 10. Mullins J concluded that the first defendant (John Sorbello) was an honest witness. As a result, John’s evidence evidence on the events was preferred to that of Mrs Anderson or Gina. 11. The order of the court was that the proceeding be dismissed. 12. Regarding the costs of the case, it was decided that Mrs Anderson, as his litigation guardian, was ordered responsible for any costs ordered against Andre. However, the issue of whether she should be ordered to pay all the costs of both defendants was questioned by the judge who promised to hear submissions from both parties regarding the costs. 13. I believe the decision was fair. There was no formal (written) contract. Part B 1. Considering that Harry, who was willing to sell the bar, is representing a business entity, here a contract between Monty and Harry according to the common presumption that in business situations legal relations are intended. Furthermore, the court would assume that the agreement was indented to be legally bounding. In addition, since option is a contract that signifies one party’s intention to acquire a legal right to buy something (Farlex, Inc.

EU Commission on Auditor Liabilities

EU Commission on Auditor Liabilities Auditors are increasingly finding that they are being targeted by those who feel that they have been wronged by the quality of the financial accounts. Auditors are required to consider the financial accounts that are prepared by the company and to establish whether they believe that they give a true and fair representation of the underlying financial position. By ‘true’ they are looking for whether the transaction actually occurred and by ‘fair’ they are looking to ascertain whether the value of the transaction has been accurately recorded. In the UK, there is a rule that liability for misstatement is joint and several between wrongdoers. This often results in auditors taking a much greater portion of the liability than would seem just. Auditors are often seen to have deep pockets due to their insurance policies and, as such, make more promising targets for those who believe that they have lost out financially due to the inaccuracy of the accounts[1]. Background to the EU Consultation on Auditor Liability There have been widespread concerns over this practice, with many countries operating a more proportional approach where the extent of the blame dictates the extent of the liability. The European Union has shown particular concern over the potential reduction in competition that this lack of capped liability leads to. With the limit level of professional insurance policies playing a huge role in the company’s decision as to which auditor to appoint, this is thought to favour the larger auditors and exclude the smaller players from some of the larger lucrative contracts. It is also thought that this requirement presents such a great barrier to entry for auditor firms that there is a real danger that the audit market is not operating competitively. The EU consultation undertook a study based on four possible options that were available to produce a cap for auditor liability. Firstly, they considered a monetary cap on a Europe wide basis. Secondly, they considered a monetary cap based on the size of the auditor firm. Thirdly, there was an option to produce a monetary cap based on a multiple of the audit fee and finally, they considered the option of member states entering into a policy of proportionate liability, which would require the courts to split the liability based on the level of responsibility for the breach and on a proportional basis. This could either be achieved through statutory provisions or through the contractual provision between the company and the auditor. Upon consultation, the commissioners found that there was overwhelming support for the concept of having a cap on auditor liability, both from inside and outside the auditing profession. The Commission noted that the issue of auditor liability was not a new one, with consideration having been given, in 2001, to whether the extent of the differences between the countries in relation to auditor liability would prevent a single market across Europe. Although, at this stage, the substantial differences across jurisdictions were recognised, they were not thought to be so large that anything had to be done to rectify the position. However, since 2002, the large scale collapse of Arthur Andersen has occurred, bringing the issue of potential liability caps back into the forefront. The Commission initially identified the potential problems that the current auditing regime causes in terms of market stability and competition within the auditing function. Considerable attention was paid to the issue of public interest and the need to have a stable auditing function which can be relied upon to be accurate. For an auditing function to be efficient, the company must be able to select an appropriate auditor for its business needs but still allow it to maintain the independence of the function so that the stakeholders can rely on the statements. It is accepted that auditors will not always be 100% accurate; however, they should be able to be relied upon as this is critical to the overall efficiency of the European capital markets. Concentration of the Audit Market The central importance of the auditing profession is not disputed, with investors relying on the financial statements in order to make investment decisions. However, the magnitude of the risk that auditors are exposed to is becoming increasingly worrying both for the auditors and for the general competitive landscape. Due to the nature of internationally listed companies, there are only four companies that are capable of providing the necessary auditing services. These are refereed to as the ‘Big Four’: Deloitte, KPMG, Price Waterhouse Coopers and Ernst Young. It is not necessarily the expertise that prevents others entering the market, but rather the high level of professional indemnity that is required which is simply not cost effective for smaller firms entering the market. It is recognised that there is little or no chance of a new entrant into the market, yet there is a danger that any one of the four could be forced out of the market, at any point, thus further re ducing the competition in large scale auditing. In reality, international auditing firms are not actually one large firm but are a network of smaller firms that recognise they are not able to manage the level of risk that is required for international auditing. With strict rules relating to auditing firms, it is unlikely that another network will emerge, making the international audit market particularly fragile[2]. Auditors often become the target in cases of insolvency as they are the ones with the resources available to deal with any financial losses due to misstatement. It is this potential redress that offers investors a degree of confidence in the market and, therefore, it is seen as desirable that auditors are held to be liable in situations where they get it wrong. However, it is recognised that the current joint and several approach is simply inefficient and consideration should be given to alternatives. For the auditing profession to be truly efficient, it is necessary for there to be a substantial degree of choice. This is not currently the case and effort should be made to ensure that the auditing options are widened so as to become accessible to other medium sized firms. One of the recognised ways of doing this is to have a liability cap or a proportionate regime so that the deep pocket syndrome does not restrict the choice of auditor to the hands of the big four[3]. Extent of Risk for an Auditor The major barriers for mid sized auditor firms are recognised as being the lack of available indemnity insurance and the large amount of potential risk that is involved when auditing large international firms. Clearly, an auditor has a duty towards the company itself, based on either contract or tort when it has behaved negligently or with wilful misconduct. The vast majority of cases are related to negligence and it is this area of liability that has generated the most interest from the European Commission[4]. Liability is clearly owed to the client itself; however, this has also extended to be liability towards third parties, causing further barriers to entry for mid sized auditing firms. For a third party to bring a claim, it is necessary for there to be a causation link between the act of negligence and the damages suffered by the third party which, although difficult to prove, has resulted in some high profile payouts further jeopardising the chances of mid tier firms entering the international auditing market[5]. At the heart of this widespread liability is the concept of joint and several liability. Under this process, a third party who has a claim against a director can also bring a claim against an auditor who has given an unqualified opinion as to the accuracy of the accounts. In a case of corporate insolvency, the directors rarely have any finances available to pay out third party losses, therefore, encouraging actions against the auditors who are seen to have ample financial backing. It is this high level of risk that the cap on liability is aiming to address. Oppositions to an Auditors’ Liability Cap Despite the overall acceptance of the need to do something to alter the balance of power within the international auditing market, one of the main objections was that placing a limit on liability would give the auditing profession a privileged position in comparison to other professions. A main aim of establishing a cap was to encourage mid sized firms to enter into the market and it is feared that a liability simply would not achieve this aim. Much of the exposure faced is outside of the EU (i.e. in the US)[6] and, therefore, the cap would make little or no difference. Equally, the insurance requirements would remain high. A cap would not make the insurance requirement less; it would simply make it more ascertainable. There are also concerns that the cap would encourage poor performances and weaker audits. From a competitive point of view, those in opposition to the cap were concerned that such a move would reduce the competitive position of European companies in comparison to other international jurisdictions where no such cap exists. Concerns were also raised that a cap on auditors’ liability would be contrary to the overall proposition of better regulation that the EU has been working towards, in recent years[7]. Alternative Options As it is accepted that the main reason for imposing such a cap would be to open up the international auditing market to other mid sized auditing firms; alternatives to a cap on liability were also considered by the EU because of the potentially negative competitive impact of such caps. One of the possible options is to impose a compulsory insurance on audit firms. There is currently an insurance gap where the amount that an insurer is prepared to insure an auditor for is substantially less than the potential liability. Forcing the auditor to take out insurance to cover all losses would not be practicable due to the high level of potential risk. Therefore, the premiums would be prohibitively expensive, particularly for the smaller firms. Alternatives to funding this additional insurance would have to come from investors or the companies themselves. Another approach would be to reduce the potential risk faced by auditors by introducing safe harbours. This would involve carving out certain areas from the potential liability of the auditor such as any external reviewers’ comments on the company or any future plans which have happened after the end of the financial accounting year. However, in doing this, there are fears that the underlying principle of professional judgment would be eroded in favour of formalised approaches to ensuring that as much of the safe harbour carve out could be enjoyed. EU Recommendations On considering all of these factors and a widespread discussion of the pros and cons of the possibility of a cap on auditors’ liability, the EU commission has established a proposal that aims to achieve the middle ground[8]. When considering the four options as stated above (cap for all European audits, cap based on size of audit firm, cap based on the fee and a proportionate regime), the EU Commission concluded that a combination of a proportionate liability and an auditors’ cap on liability would make the foundations of their recommendations. The report advised member states to require a limitation to auditors’ liability to be established either through a statutory cap, a limitation based on proportionality or limitation of liability through the contract between the audit company and the auditor. Proportional liability gained considerable support from the non-auditing respondents to the proposals as it was felt that this would deal with the issue of reliance on auditors’ deep pockets, but would also ensure that the quality of the audit would be maintained. The commission recommended that any member state implementing this approach should not set a specific proportion and should simply set the principle in place to be applied through the judicial processes, where necessary. Unsurprisingly, the auditing profession preferred the concept of a cap on liability, arguing that it would have no long term impact on the quality of the audit and would allow mid sized firms to enter the market. This was not entirely followed by the EU Commission who preferred to suggest a principle of proportionate liability. Based on all arguments, the EU Commission has advised a regime of proportionate liability across all member states. Conclusions The issue of auditors’ liability and how risk is apportioned has been raising concerns on an international level and has, therefore, become the subject of an EU Commission report. Currently, the international auditing market is heavily dominated by the big four accounting firms and several barriers of entry exist to prevent mid sized firms entering the market. Many of the barriers result directly from the fact that auditors are jointly and severally liable for misstatements in the financial accounts. Therefore, due to their deep pockets, auditors are often the main target for those taking actions against struggling companies[9]. Based on this position, the EU Commission looked into the option of establishing a cap on liability (either statutorily or through contractual provisions). After careful consideration of all of the options, it was felt that a principle of proportionality would be the best approach, given all of the issues raised. It was concluded that proportionality would reduce the deep pockets issue, yet would still ensure that the level of quality of auditing work is maintained. This level of proportionality should not be cast in stone and should be established on a case by case basis. It is anticipated that this will provide sufficient security for the smaller auditors to compete on a level playing field with the domain that has traditionally been that of the big four firms. Bibliography Allen, Robert D., Hermanson, Dana R., Kozloski, Thomas M., Ramsay, Robert J., Auditor Risk Assessment: Insights from the Academic Literature, Accounting Horizons, 20, 2006 Clarke, Frank L., Dean, G.W., Oliver, Kyle Gaius, Corporate Collapse: Accounting, Regulatory and Ethical Failure, Cambridge University Press, 2003 Garner, Don E., McKee, David L., McKee, Yosra AbuAmara, Accounting and the Global Economy After Sarbanes-Oxley, M.E. Sharpe, 2008 Hay, David, Davis, David, The Voluntary Choice of an Auditor of Any Level of Quality, Auditing: A Journal of Practice Theory, 23, 2004 Hillison, William, Pacini, Carl, Auditor Reputation and the Insurance Hypothesis: The Information Content of Disclosures of Financial Distress of a Major Accounting Firm, Journal of Managerial Issues, 16, 2004 Pacini, Carl, Hillison, William, Sinason, David, Auditor liability to third parties: an international focus, Managerial Auditing Journal, 15, 8, 2000 Pong, C.K.M., Burnett, S., The implications of merger for market share, audit pricing and non-audit fee income: The case of PricewaterhouseCoopers, Managerial Auditing Journal, 21, 1, 2006 Smith, Roy C., Walter, Ingo, Governing the Modern Corporation: Capital Markets, Corporate Control, and Economic Performance, Oxford University Press US, 2006 Soltani, Bahram, Auditing: An International Approach, Pearson Education, 2007 Footnotes [1] Pong, C.K.M., Burnett, S., The implications of merger for market share, audit pricing and non-audit fee income: The case of PricewaterhouseCoopers. Managerial Auditing Journal, 21, 1, 2006 [2] Clarke, Frank L., Dean, G. W., Oliver, Kyle Gaius, Corporate Collapse: Accounting, Regulatory and Ethical Failure, Cambridge University Press, 2003 [3] Soltani, Bahram Auditing, An International Approach, Pearson Education, 2007 [4] Hillison, William, Pacini, Carl, Auditor Reputation and the Insurance Hypothesis: The Information Content of Disclosures of Financial Distress of a Major Accounting Firm, Journal of Managerial Issues, 16, 2004 [5] Pacini, Carl, Hillison, William, Sinason, David, Auditor liability to third parties: an international focus, Managerial Auditing Journal, 15, 8, 2000 [6] Garner, Don E., McKee, David L., McKee, Yosra AbuAmara, Accounting and the Global Economy After Sarbanes-Oxley, M.E. Sharpe, 2008 [7] Hay, David, Davis, David, The Voluntary Choice of an Auditor of Any Level of Quality, Auditing: A Journal of Practice Theory, 23, 2004 [8] Smith, Roy C., Walter, Ingo, Governing the Modern Corporation: Capital Markets, Corporate Control, and Economic Performance, Oxford University Press US, 2006 [9] Allen, Robert D., Hermanson, Thomas, Dana R., Kozloski, M., Ramsay, Robert J., Auditor Risk Assessment: Insights from the Academic Literature, Accounting Horizons, 20, 2006

Alcohol Consumption in College :: Alcoholic Beverages Health College Essays

Alcohol Consumption in College Incomplete Paper Alcoholic beverages such as beer can cause problems for many people throughout life, but for college aged people alcohol can cause the worst. In college most people are being out on their own for the first time ever and having that freedom they have never had. Some problems caused by alcohol in college are, missing an assignment or class, or even death. Drinking a beer a day has been found healthy, but in college that is never the case. Not that everyone drinks or everyone drinks a lot but there is always that select group that will drink more nights out of a week than not. And when that group drinks they drink heavily in order to be drunk. Problems occur with many people who do drink very heavily because it impairs their ability to get things done for many hours including the ones when drinking and after. A student may not attend class the day after drinking because he or she may be to sick or just exhausted from the drinking the night before. After the student skips the first one it becomes easier and easier to skip classes, therefore it is more likely to happen over and over again. Also when skipping classes a student can miss anything from an important lecture to a test which can really hurt their grades. The final big issue is the number of students who die every year from alcohol poisoning. Alcohol poisoning is caused by excessive amounts of alcohol in the body. Some very common ways for students to get this is by doing shots of hard liqour or now the tool called a beer bong. Both involve swallowing a lot of alcohol very quickly which is very dangerous for the body, and can many times lead to being very ill or death. College is a huge part of every student's life, and there is no reason to try to ruin college or life by excessive drinking. Students need to understand there is more to life than partying or going out every night. Maybe if the school did more about educating the students on the issues of drinking there wouldn't be so many binge drinkers. If that huge paper is due in a couple days or there is class in the morning going out and partying is not going to help with either situation. alcohol to children For years, the population has been exposed to different forms of media. Newspapers, magazines, television, films, radio, and more recently the Internet are ways of promoting ideas, spreading news, and advertising products. Alcohol Consumption in College :: Alcoholic Beverages Health College Essays Alcohol Consumption in College Incomplete Paper Alcoholic beverages such as beer can cause problems for many people throughout life, but for college aged people alcohol can cause the worst. In college most people are being out on their own for the first time ever and having that freedom they have never had. Some problems caused by alcohol in college are, missing an assignment or class, or even death. Drinking a beer a day has been found healthy, but in college that is never the case. Not that everyone drinks or everyone drinks a lot but there is always that select group that will drink more nights out of a week than not. And when that group drinks they drink heavily in order to be drunk. Problems occur with many people who do drink very heavily because it impairs their ability to get things done for many hours including the ones when drinking and after. A student may not attend class the day after drinking because he or she may be to sick or just exhausted from the drinking the night before. After the student skips the first one it becomes easier and easier to skip classes, therefore it is more likely to happen over and over again. Also when skipping classes a student can miss anything from an important lecture to a test which can really hurt their grades. The final big issue is the number of students who die every year from alcohol poisoning. Alcohol poisoning is caused by excessive amounts of alcohol in the body. Some very common ways for students to get this is by doing shots of hard liqour or now the tool called a beer bong. Both involve swallowing a lot of alcohol very quickly which is very dangerous for the body, and can many times lead to being very ill or death. College is a huge part of every student's life, and there is no reason to try to ruin college or life by excessive drinking. Students need to understand there is more to life than partying or going out every night. Maybe if the school did more about educating the students on the issues of drinking there wouldn't be so many binge drinkers. If that huge paper is due in a couple days or there is class in the morning going out and partying is not going to help with either situation. alcohol to children For years, the population has been exposed to different forms of media. Newspapers, magazines, television, films, radio, and more recently the Internet are ways of promoting ideas, spreading news, and advertising products.