Principles of Management - 1306 Words

Goal Setting: A Managers Role vs. the Employee s Role How do you get your employees to perform better? Are your employees focused, motivated, organized and driven? What goals have been established for your employees? These are a few of the many questions I asked to multiple managers within the company that I work for. Being a relatively new employee, working there for a little over a year, I wanted to ask these questions. Not to see how different managers felt about specific employees, but to get an overall view of how their jobs as managers directly affected each and everyone s job performance. Management is a science of how an individual works with a group of people, oversees their performance, and tries to†¦show more content†¦They have to always be aware of what s going on so that they can make the adjustments that are required. This is a continual process that stays intact for as long as the goals are being implemented. Once the goals have changed, the four pillars of goal setting for a manager must be reshaped. With goals set forth and employees on the move it is important once again to do some investigating. We already looked at ways managers go through their goal setting pr ocess. Let s now enter into the realm of how the employee motivates themselves in their goal setting adventure. It is said that many top performers have one thing in common; they set clear, actionable goals and stay focused on them. While most people understand the importance of goals, the most effective take an extra step of writing down their goals and steps to achieve them. This is important because, ultimately, reflecting on why they hope to achieve their goals, rather than simply knowing what their goals are, is what motivates them to pursue their given goals. Take a page from the top-performer playbook and create your own SMART goals. The letters can stand for various words, but one popular interpretation is: S = Specific M = Measurable A = Attainable R = Relevant T = Time-Bound A simple yet effective way of setting and monitoring goals is by using the SMART goal structure. The SMART goal structure is a proven method to create a goal that is reasonable and easyShow MoreRelatedPrinciples of Scientific Management1149 Words   |  5 PagesScientific Management is a theory of management that analyzed and synthesized workflows. Its main objective was improving economic efficiency, especially labor productivity. It was one of the earliest attempts to apply science to the engineering of processes and to management. Its development began with Frederick Winslow Taylor in the 1880s and 1890s within the manufacturing industries. Taylor was an American mechanical engineer and a management consultant in his later years. He is often calledRead MoreThe Principles Of Scientific Management1337 Words   |  6 Pagesa century ago, Frederick Winslow Taylor’s renowned work The Principles of Scientific Management set forth a theory that to this day is subjected to a similar degree of critique and debate to that in the early 20th century. While Taylor’s ideas were evidently influenced by the works of earlier researchers, it is he who is credited as the â€Å"father† of the scientific management movement (Jeacle, 2004, p. 1164). As such, scientific management itself is synonymous with Taylor to the extent that it is commonlyRead MoreThe Principles Of Scientific Management2994 Words   |   12 PagesIntroduction Good management can be defined as the optimal use of available resources to increase an organisation s efficiency and effectiveness in meeting its objectives (Garg, 2013). Scientific management has been the dominant model for many years, but its usefulness for meeting modern organisational challenges may be limited. This paper examines the principles of scientific management, the degree to which it is applied in contemporary organisations, its utility for addressing modern challengesRead MoreThe Principles of Scientific Management and Its Applications in Modern Day Organizations2456 Words   |  10 PagesThe Principles of Scientific Management and its Applications in Modern Day Organizations Introduction Managers have been continuously trying to figure out the best way to manage the workplace since the start of the industrial revolution. The goal is to maximize production output and minimize cost therefore getting maximized profit while still keeping workers happy and motivated. Different methods have been introduced and tested. But perhaps one of the most influential and popular ideas in managementRead MorePrinciples of Management1252 Words   |  5 PagesSWOT Project Principles of Management SWOT Interestingly enough, there are different levels of overlap between my SWOT analysis, and those provided to me by others. There is not a consistent characteristic that appears in every single SWOT, but certain characteristics appear in two or three. The most common strengths that appeared in the SWOTs were leadership, charisma, and empathy. When I was answering the strengths section of the self SWOT, I thought others mentioned generosity, listening andRead MoreThe Principles Of Knowledge Management Principles1200 Words   |  5 PagesKnowledge Management Principles The twelve Knowledge Management Principles are aimed at leading individuals to apply key Army principles to their decisions and incorporate them into the actions that they undertake. Out of these twelve principles, the two that appear to be the most critical would be the first and third principles, which apply to the training of leaders, managers, and champions on knowledge management principles and creating an environment in which collaboration can occur on the basisRead MorePrinciples of Management2084 Words   |  9 Pagespowers by training. The company focuses on balancing between local hiring and international hiring to rise the probability of getting talented and hard workers. Chapter 2: 1. Mr.Hamdoun is a big advocate of efficiency. How might principles of scientific management be useful to LCB? - two of the three scientific methods are the most useful to Mr.Hamdoun. 1. Putting the right person on the job with the correct tools and equipment. 2. Having a standardized method of doing the job. 2Read MorePrinciple of Management1020 Words   |  5 Pagesskills. The assignment will be graded using the following rubric: Outcomes Assessed  · Explain the principle theories of leadership and motivation, and describe the fundamental considerations in managing and motivating individual and group behavior.  · Use technology and information resources to research issues in management. Grading Rubric for Assignment # 2 – â€Å"Hewitt-Packard Company† Criteria 0 Unacceptable 20 Developing 30 Read MorePrinciples of Management2076 Words   |  9 Pagespowers by training. The company focuses on balancing between local hiring and international hiring to rise the probability of getting talented and hard workers. Chapter 2: 1. Mr.Hamdoun is a big advocate of efficiency. How might principles of scientific management be useful to LCB? - two of the three scientific methods are the most useful to Mr.Hamdoun. 1. Putting the right person on the job with the correct tools and equipment. 2. Having a standardized method of doing the job. 2. How mightRead MorePrinciple of Management1397 Words   |  6 Pagesdecision-making: 1) Persuasive Democratic Management The leader will makes the decision first and then convinces the employees that he or she has made the right decision. 2) Consultative Democratic Management   It is involved in group decision-making and leadership to make the final decision. Autocratic Style Autocratic style is means one individual has the authority to make all important decisions for a group or people. There are two types of autocratic management: 1) Directive autocrat Directive

The Day Of The Atomic Bomb - 1798 Words

I can remember it like it was yesterday. Four days after my sixth birthday, and a brisk Tuesday morning. I do not have many vivid memories from my sixth year, however, with little understanding of the situation, I knew something horrible had happened. A small town in southern Indiana went from calm and quiet to panicked and absolutely silent. As a kindergartener student I could not begin to fathom the heinous act that had taken place. I cried because the world around me cried. I watched it appear on every television screen. I waited for answers that never came. There are days the world will never forget: the day the atomic bomb hit Hiroshima, the day Kennedy was assassinated, the list continues. This was one of those days. It was a brisk Tuesday morning in September. In the blink of an eye, everything stopped. Shock crossed the nation. Nobody moved. Everyone stared at their televisions in disbelief. The twin towers of the World Trade Center collapsed, an airplane hit the Pentagon, and the brave souls onboard flight 93 lost their lives in a field in Pennsylvania. America would never be the same. On September 11, 2001, terrorists hijacked four airplanes and turned them into explosive weapons. According to Brian Ross of ABC News, the nineteen Saudi Arabian hijackers of the four flights all purchased knives to bring aboard. These knives, at the time, were allowed to be carried onboard in carry-on luggage. Four hijackers, Hani Hanjour, ZacariasShow MoreRelatedThe Day the Atomic Bomb was Dropped on Hiroshima508 Words   |  2 PagesOn August 6, 1945 uranium gun-type atomic bomb (Little Boy) was dropped on Hiroshima, within the first day of the bombings the effects killed 90,000–166,000 people in Hiroshima. The effects of the atomic bomb left many dead, homeless, and sacred. Even four months later people would die from radiation poisoning and discovering they had cancer now. Skin would be peeling off like bark on trees, this was a true horrifying sight. The United States were at war with japan but, does that justify what theyRead MoreHiroshima And The Atomic Bomb1716 Words   |  7 Pagesdropped an atomic bomb on Hiroshima, which was the first time an atomic bomb was used in war. Three days later, the United States proceeded to drop an atomic bomb again on another city, Nagasaki, which was the last time that an atomic bomb has ever been used in the world till today. Soon after the devastating bombings, with thousands of Japanese civilians dead, the Japanese emperor Hirohito surrendered, marking the offic ial end of WWII. Consequently, whether or not dropping the atomic bomb was theRead MoreWorld War Ii Research Paper: Hiroshima and Nagasaki1693 Words   |  7 PagesIn the midst of World War II, August 1945, the United States unleashed the first ever atomic bomb attack on Hiroshima and Nagasaki. The usage of the atomic bomb was effective, but at the same time devastating and unnecessary. The United States should not have dropped the atomic bomb because it maimed countless of Japanese civilians, caused radiation poisoning whose effects impacted future generations, left both cities in ruins, left citizens homeless, and it was absolutely unmoral for the UnitedRead MoreThe Atomic Bomb Of Japan1548 Words   |  7 PagesIt is true to say that the Japanese deserved to have two atomic bombs dropped on two industrial cities in the span of just around three days? Is it also true to say that is was alright for thousands of innocent Japanese lives to be sacrificed for the sake of showing the p ower of the United States to the then Soviet Union? Is the use of the atomic bomb something that can be justified even after it have killed and has a lasting effect on certain lands in Japan? This cannot be justified because of theRead MoreThe First Atomic Bomb Of The United States1249 Words   |  5 PagesAmerican naval base, Pearl Harbor, in Honolulu, Hawaii. Twenty naval vessels and 200 airplanes were destroyed during the attack. 2000 soldiers were killed and 1000 were injured. The following day, December 8, President Franklin Delano Roosevelt asked the United States congress to declare war on Japan. Three days later, after the United States turned its attention to Germany and Italy, the two countries declared war on the United States, which the President and Congress freely agreed to. After two yearsRead MoreThe Atomic Bomb Of Hiroshima And Nagasaki1515 Words   |  7 PagesResearch Question: Was it necessary for President Truman to drop the atomic bomb in Japan? Was it necessary for Truman to drop the Atomic Bombs on Japan in World War II? On August 6, 1945, the first atomic bomb was dropped by a US aircraft on Hiroshima. This atomic bomb was dropped to force Japan into surrender, this bomb alone destroyed Hiroshima and over 90,000 people were instantly killed in the explosion and an additional 100,000 people perished from burns and radiation sickness. Japan refusedRead MoreWhat Are the Positive and Negative Aspects of the Aromic Bomb?1520 Words   |  7 PagesThe First Only-Atomic Bomb The atomic bomb, also known as the atom bomb or fission bomb, a weapon whose explosive power originates from the fission of atomic nuclei, a reaction in which an atomic nucleus splits in two. When the nucleus of a heavy atom, such as the element uranium-235, which is what the atom bomb is made out of, is split, a certain amount of mass disappears and an equivalent amount of energy is released. This was expressed by the equation E=mc2 (energy = mass times the speed ofRead MoreEffects Of The Atomic Bomb Essay780 Words   |  4 PagesInvention: The Atomic Bomb The atomic bomb is one of the most important events in history. The atomic bomb changed the world because of its destruction. I do not believe in the atomic bomb because it killed thousands of innocent people. Sure, we were in the war with the Japanese but most of those people were just humans who lived there; most were not involved in the war. The bomb killed kids and many people The atomic bomb might have ended World War II, but it started the cold war. After the bomb, thereRead MoreThe Atomic Bomb Was The Most Destructive Thing On The Planet Essay1223 Words   |  5 PagesThe atomic bomb was the most destructive thing on the planet at that time. It had the power â€Å"equal to 12-15,000 tons of TNT† or a â€Å"22-kiloton blast† (Bombing Of Hiroshima and Nagasaki) depending on which of the two atomic bombs are being talked about. Using the atomic weapons is something that should not be taken lightly and does not come without consequences, though. However, ending a w ar or shortening it by any means necessary is a just cause, but to effectively do so a decision must be made onRead MoreThe Atomic Bomb Is It Really Justified?1627 Words   |  7 PagesThe Atomic Bomb, was it really justified? On August 6, 1945, after forty-four months of increasingly brutal fighting in the Pacific, an American B-29 bomber loaded with a devastating new weapon flew in the sky over Hiroshima, Japan waiting for a signal. Minutes later the signal was given, that new weapon, the atomic bomb, was released. Its enormous destructive energy detonated in the sky, killing one hundred thousand Japanese civilians instantly. Three days later, on August 9, 1945, the United

Canterbury Tales Character Analysis - 1988 Words

The Canterbury Tales, by Geoffrey Chaucer, is a collection of tales and prologues of stories told by many characters whilst on a pilgrimage to the city of Canterbury. From religious figures such as nuns, monks and pardoners; to doctors, cooks and millers, this pilgrimage embarked on by many interesting people with stories that range from inspiring to gruesome. A few of the most predominant stories include those of the Prioress, the Summoner, the Wife of Bath, the Miller, and the Reeve. In these tales, Chaucer uses motifs such as karma, greed, religion, and social division in attempts to tie together stories that are seemingly all unrelated. It is also clear after reading each tale that common human interactions stated in these stories,†¦show more content†¦The answer itself, â€Å"A woman wants the self-same sovereignty†¦ her husband†¦he must not be above her.† (p.286) proves the possible reasoning behind why the Queen wished to override the King’s or ders. It is then said, â€Å"Maid, wife and widow cried, â€Å"He’s saved his life!†Ã¢â‚¬  (p.286); followed with the old woman’s exclamation to the Queen that the Knight received his answer from her. These series of events shows the complete oblivion to the severity of the rape case, that both men and women easily overlooked the Knight’s wrongdoings. Chaucer uses irony, in the sense that he is conveying the idea that women want power equal or over men, yet are in a way contradicting their demands by aiding a rapist. The tale seems to make more sense as we read on, where the old woman scolds the Knight for judging her based on her age and wealth, â€Å"You’re old, and so abominably plain, so poor to start with, so low-bred to follow;† (p.288) seeming that the woman’s status and suitability as a good wife is an accurate representation of her worth. This is a theme implemented by Chaucer, where a women’s worth is determined, by both men and women, by how well they can please a man; this then essentially becomes one of, if not the most important goal in life. Chaucer also applies serious conflict to this tale, whether in the fact that we cannot understand the role of women and power dynamics, or the idea that the Knight is not only saved, but rewarded at the endShow MoreRelatedCanterbury Tales Character An alysis981 Words   |  4 PagesUpon first reading of the Canterbury Tales by Geoffrey Chaucer, the reoccurring theme of social status is not blatantly obvious. Upon further reading, however, it becomes apparent that it in fact plays large role in most of the aspects of the tales. In both the Wife of Bath’s Tale and the Nun’s Priest Tale, social status plays a role in the plot, characters, and themes in order to more effectively portray the messages Chaucer is trying to get across. The underlying theme addressing social statusRead MoreCanterbury Tales Character Analysis997 Words   |  4 Pageslanguage of the common people (Morrison). The Wife’s knowledge of the three languages grants her access to the forms of power that patriarchy denies to women, establishing her character as an authoritative female through the authentication of English as a literary language. In the dissertation â€Å"Geoffrey Chaucers The Canterbury Tales: Rhetoric and Gender in Marriage,† Andrea Marcotte analyzes Chaucer’s usage of ethos to grant the Wife authority in her male-dominated culture. Marcotte argues that the WifeRead MoreCanterbury Tales Character Analysis1334 Words   |  6 PagesThe Canterbury Tales is a written work, by Geoffrey Chaucer, that is a representation of the society he lived in. His work portrays the feudal system during the medieval times and how each level of livelihood was a character, whose personalities reflect how Chaucer and his culture view them. During his time, his society regarded the Christian Church as corrupt and manipulative, with a few clergy who are honest and genuine in their exertion. Therefore, the ecclesiastical persona has the dispositionsRead MoreCanterbury Tales Character Analysis1272 Words   |  6 PagesThe Canterbury Tales, penned by Geoffrey Chaucer gives its audiences insight on the corruption that e xists to this day in humanity. As you read through the chapters Chaucer reveals the dark sides to supposedly respectable people such as the Summoner, along with people he favors like the Knight, the Wife of Bath, and women in general. His comical descriptions and stories that coincide with each character express his thoughts on real people in his society. My perception of the Summoner’s tale moralRead MoreCanterbury Tales Character Analysis1457 Words   |  6 Pages The Canterbury Tales introduces a group of very interesting characters from different walks of life. These characters can fall into different groups, and these groups show society was divided up in the 14th century. The descriptions of these characters give an idea on how these groups worked. How were people ranked in social status? Were certain people more corrupt than others? Which characteristics caused the people to be sorted into the group they are in? These questions are answered by the differentRead More Character Analysis of The Wife of Bath of Chaucers Canterbury Tales1623 Words   |  7 Pages Character Analysis of The Wife of Bath of Chaucers Canterbury Tales The Canterbury Tales is Geoffrey Chaucers greatest and most memorable work. In The Canterbury Tales, Chaucer uses a fictitious pilgrimage [to Canterbury] as a framing device for a number of stories (Norton 79). In The General Prologue of The Canterbury Tales, Chaucer describes in detail the pilgrims he meets in the inn on their way to Canterbury. Chaucer is the author, but also a character and the narrator, and acts likeRead MoreThe Canterbury Tales : An Analysis Of Medieval Life By Geoffrey Chaucer939 Words   |  4 PagesCanterbury Tales: An Analysis of Medieval Life by Geoffrey Chaucer The Canterbury Tales is strongly considered one of the greatest works in medieval literature. An admirer of Chaucer, and the author of Chaucer and the Fifteenth Century, H.S. Bennett describes Chaucer’s unique style as, â€Å"No detail was too small for him to observe, and from it he could frequently draw, or suggest, conclusions which would have escaped many.† While The Canterbury Tales was originally intended to be an epic poemRead MoreThe Caterbury Tales, Carmina Burana and The Book of Taliesin722 Words   |  3 PagesChaucer’s Canterbury Tales, to the legendary king and war-hero Arthur of Camelot. The Christian Church was the single most influential institution in society, with the pope taking on a role as the leader of European Christendom and education and intellectual life mostly happening through religious institutions. Through the analysis of compositions written during the Middle Ages, it is observable that significant events influenced the page s of these notable works such as Canterbury Tales, Carmina BuranaRead More Summary and Analysis of The Shipmans Tale (The Canterbury Tales)928 Words   |  4 PagesSummary and Analysis of The Shipmans Tale (The Canterbury Tales) Introduction to the Shipmans Tale: The Host asks the priest to tell a tale, but the Shipman interrupts, insisting that he will tell the next tale. He says that he will not tell a tale of physics or law or philosophy, but rather a more modest story. The Shipmans Tale: A merchant at St. Denis foolishly took a desirable woman for a wife who drained his income by demanding clothes and other fine array to make her appearRead More Analysis of The Canons Yeomans Tale Essay762 Words   |  4 PagesSummary and Analysis of The Canons Yeomans Tale (The Canterbury Tales) Prologue to the Canons Yeomans Tale: When the story of Saint Cecilia was finished and the company continued on their journey, they came across two men. One of them was clad all in black and had been traveling quickly on their horses; the narrator believes that he must be a canon (an alchemist). The Canons Yeoman said that they wished to join the company on their journey, for they had heard of their tales. The Host asked

Economic Analysis ( Ks ) Essay - 1230 Words

Economic Analysis (KS) The Federal Reserve reports in the Beige Book that was most recently published on April 15, 2015, that throughout the twelve Federal Reserve Districts, which include, Boston, New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, St. Louis, Minneapolis, Kansa City, Dallas, and San Francisco, economic expansion continued to grow within most regions. Consumer spending is on an upswing in Boston Philadelphia, St. Louis, Minneapolis, and San Francisco, who all reported higher retail sales to the Federal Reserve, and attribute this partly to consumers saving money on energy prices and spending that money on retail transactions. This can have great potential benefit for Apple Inc. because it shows that consumers in these regions are visiting retailers more and might be more apt to purchase Apple products. At the other end of the spectrum the New York, Richmond, Atlanta, Chicago, Kansas City, and Dallas regions reported mixed to slightly lower retail sales, and the Cleveland region reported that retail sales remained flat. These reports could mean that people in these regions are less likely to spend money at retailers, meaning they are less likely to spend their money on Apple products (U.S. Federal Reserve). Demand for manufactured products, as reported to the Federal Reserve, were mixed during the period. Although Boston, Philadelphia, Atlanta, Chicago, and Dallas, and San Francisco report an increase on net of manufacturing,Show MoreRelatedFinancial Ratios and Profit Analysis Methods998 Words   |  4 Pagesexpanding greatly its online offerings. One of the few examples where such a shift would be expected and normal given the current economic climate would be firms like BlockBuster who are clearly shifting from brick and mortar stores to online stores and/or digital offerings in general. HYPERLINK http://finance.yahoo.com/q/ks?s=HMA+Key+Statistics http://finance.yahoo.com/q/ks?s=HMA+Key+Statistics HYPERLINK http://www.investopedia.com/ask/answers/06/pegratioearningsgrowthrate.asp http://www.investopediaRead MoreInternational Trade1662 Words   |  7 PagesEuropean Union is the largest trading partner of the United States and this trade represents 4% of U.S. gross domestic product (BEA, 2010). The intensification of long-haul trade routes has reinforced the critical role of seaports, as gateways to economic spaces and as nodes on the global deep-sea liner shipping networks (Goss, 1990; Notteboom and Rodrigue, 2007; Trongzon and Sawant, 2007). A countervailing force has been that shipping lines have now become dominant actors in world trade because theyRead MoreTechnical Analysis and Mutual Funds. Testing Trading Rules3465 Words   |  14 Pagesrespective mutual fund and not for the single investor. It is presented the triple moving average rule, which possibly can be a solution for this problem. KEYWORDS: Technical Analysis, Mutual Funds, Moving Average Rule, Decision Making INTRODUCTION The decision-making process could break down into two separate stages-analysis and timing. Because of the high leverage factor in the future markets, timing is especially crucial to successful trading. It is quite possible to be correct on the generalRead MoreEssay on Market Research Implementation: McDonalds1320 Words   |  6 Pagesis currently a hot topic within food chains and attention is driven by the Obama administration. Secondary research also shows that although the public has major health concerns with the food chain, profits are increasing during a high point of an economic recession (Dahan Gittens, 2008). According to the source, sales are up in the United States by 4.3% in 2008 regardless of any health considerations to the menu and an increase to menu pricing (Dahan Gittens, 2008). Secondary research showsRead MoreCase 1 Risk and Rates of Return2116 Words   |  9 PagesDivisional hurdle rates Financial management and policy Case 1, week 2 University of Maastricht Faculty of Economics and Business Administration Maastricht, 5th of November 2003 Danner, W. I 136964 Kuijt, R.J. I 130885 Steenvoorden, W.J.M. I 178829 Course Code: 6010v Group number: 7 Subgroup number: 1 Tutor: B. Pavlov Introduction Randolph Corporation is a multidivisional company. Due to frictions among the divisions, Randolph’s stock has not performed according to expectationsRead MorePatient Profile Preferred By Doctors For Polypill Prescription Essay944 Words   |  4 PagesFig.1: Patient Profile preferred by doctors for Polypill prescription. Further analysis leads us to the top indication groups in secondary CV prevention where doctors would prefer polypill like CAD / T2DM /HTN: 23%, HTN with IHD: 17%, CAD/HTN/ Chronic Heart Failure (CHF): 15% (Fig.2) Results from our survey also showed that 90% Doctors believe that Polypill Improve Compliance and adherence to the treatment. Fig.2: Indications Preferred by doctors for Polypill in CVD management â€Æ' Patient ProfileRead MoreThe Model Of Health Care799 Words   |  4 Pagesmodel, where the patient is only viewed as a syndrome, or the host of a disease, or the biopsychosocial model (BPS), which was developed by George L. Engel in 1977.1 The BPS model appreciates the person as a whole, having psychological and socio-economic impacts on their health and adherence, as well as the ailment they may or may not be suffering from at any point in time.1 In the case of LH, where it is clear her health and wellbeing is being affected by her lifestyle, it would be more appropriateRead MoreAnalysing the Business Environment in China1162 Words   |  5 Pagesline in China. The report studies the business environment variables of China, namely the economical, legal, political, cultural, religious and educational factors; to recommend an entry strategy for Stillwater to enter China as a market. The SWOT analysis is also used as a tool to supplement the study of the business environment variables . Stillwater should use this report to determine its likelihood of surviving and succeeding in China as a company. A decision to enter the China market should beRead MoreBenefits Of Same Sex Marriage1054 Words   |  5 Pages Benefits of Same Sex Marriage in Society By: Katherine Collins PSY 2510 Abstract Introduction In 2014, same sex marriage has been legalized in thirty-five US states (AK, AZ, CA, CO, CT, DE, HI, IA, ID, IL, IN, KS, MA, MD, ME, MN, MT, NC, NH, NJ, NM, NV, NY, OK, OR, PA, RI, SC, UT, VA, VT, WA, WV, WI, and WY) and the District of Columbia. There is also fifteen states (AL, AR, FL, GA, KY, LA, MI, MS, MO, NE, ND, OH, SD, TN, TX, WY) have same sex marriage bans through eitherRead MoreRisk and Return Analysis Essay1811 Words   |  8 PagesRisk and Return Analysis Paper FIN 402 Risk and Return Analysis Paper Creating the right balance of securities in a diversified portfolio is crucial to maximizing return and minimize risk. This can be done through analysis of current and past activity of each product. Through a risk assessment, return analysis, researching the beta of each security, and reviewing the average risk and return, we can determine the weights of our securities and devise the strongest portfolio to limit risk and

Utility Analysis Free Essays

During the first three decades of the 20th century, there were many great leaders in the area of Industrial and Organizational Psychology whose contributions have been largely documented in historical records. Leaders are not born they are made, and true leader leads by example. Sometimes people influence the way we live our lives. We will write a custom essay sample on Utility Analysis or any similar topic only for you Order Now This could be a pastor, teacher, friend or manager. In any event, leaders must take the extra step and reach out to others. In order to be effective, a leader must be able to initiate and develop his or her alliances in the quest for achieving common goals and objectives (Bills, 1925). Thus, leaders have the ability to influence, guide, direct and control the behavior of others while leading with dignity and respect. Dr. Bills’ studies, exemplified characteristics of true leadership. She became a legendary figure in a scientific research to understand and resolve personnel issues within organizations (Koppes, 2007). In one case study, Dr. Marion A. Bills illustrated important duties for managerial position and how essential they are to the success of the organization. MARGINAL UTILITY ANALYSIS AND HRM VALUE Marginal utility is an economic concept that is used in determining the additional satisfaction that one obtains as he consumes additional amount of a particular commodity (Samuelson and Nordhaus, 2001). As applied to the management of human resources, it may be equivalent to the additional product that an employee can contribute to the attainment of organizational goals and objectives. The additional product that an employee can contribute to the company or the additional value that it could provide will be the basis of determining the compensation or the pay that must be given to him. The concept of marginal utility may then be used by a human resource manager in wage and salary administration particularly in determining the salary for a new worker. The management must determine what the new employee is capable of contributing to the value of the company by analyzing his qualifications as to knowledge, skills, and abilities. The salary that would be given must at least be equal to the marginal product to ensure that hiring the employee would add value to the firm. If the salary that would be paid is higher than his marginal product (may be equivalent to marginal utility), hiring him would not do good for the company or would not add to its value. REFERENCE: Samuelson, Paul A. and Nordhaus, William D. (2001). Economics. McGraw- Hill Companies, Inc. How to cite Utility Analysis, Essay examples

Auditing And Corporate Collapses Samples †MyAssignmenthelp.com

Question: Discuss about the Auditing And Corporate Collapses. Answer: Introduction ABC learning was incorporated in the year 1988 and had coverage of more than 30 centers by the end of 2000. The listing happened in the year 2001 and spread to more than 660 centers in Australia and more than 2238 centers covering Australia, United States, and the United Kingdom. As defined by CPA (2012), the higher ambition and audit failure on the part of the management led to the downfall of the giant. There were several issues pertaining to recording of assets, as well as goodwill. There were two opinions by the auditor that led to the major contravention. The debt was a huge problem that arises from 2007 where ABC was required to renegotiate with the bankers. Also, few long-term loans were not payable and it affected the cash flow of the company. In lieu of this, the share value fell in a drastic mode. Had auditors taken a strong stand then such a drastic scenario could have been changed. The main concern that came in the way was that the ABC learning was reaping profits from th e ordinary course of activities[1]. There was a huge discrepancy because any child care was unable to perform in such a rapid manner. The manner in which ABC rose to significant height was truly commendable and was highly noticed how a child care division rose in such a mammoth way Inadequate presence of relevant matters and negligence that needs to considered during preparation of the financials The external auditor of ABC provided an unqualified opinion to ABC since the appointment happened in 2003. After the resignation in 2007, Ernst Young took charge and took a different evaluation of the profit that was stated previously. KMPG was introduced as a third party so that the differences can be settled. Even after having two major giant audit firms in the organization, no faults were traced (Kruger, 2015). Hence, the case indicates that different auditors provided a different opinion regarding the financial statement and it needs to be noted that the unqualified audit opinion by the giants led to the major scandal and failure of the ABC learning[2]. Even after having all the major giants, there was a huge mismanagement or pitfalls that ultimately led to the downfall. Instruments coming into action Erroneous usage of the related party transaction was a crucial ruinous and risky decision on the part of the firm. The major reason behind adoption of such decision can be attributed to the fact that a garnished picture of the firm can be depicted in front of the financial institutions and other investors. This can assist in obtaining more borrowings by keeping the securities of the firm as collateral. The related party transaction was in charge for the cry off of the firm by gradually lessening the securities by presenting such transactions as register sale for securities[3]. The management was helped by the auditing staff to conceal the duplication of securities prevalent in the financials and also hiding that the firm had been depicting all its major securities as third party collaterals equivalent to nothing in its financials (Carcello, 2012). Further, the firm endeavored to present its entire amount of borrowings or loan as sale proceeds of the investment securities. Moreover, n ot a single transaction related to such was portrayed on the firms balance sheet. This makes it clear that the firms major target was to attain an environment of less risky liabilities and more resourceful or liquid assets. The company was paid a huge amount of $74 for works pertaining to the ABC centers. The Brisbane Bullets Basketball team that Grooves owned was sponsored by ABC. Most importantly there were transactions pertaining to 1,2,3 global group of companies. ABC provided that such transactions were unrelated and that there was no interest in the transactions of the company[4]. This was one of the poor acts of the corporate governance that led to the downfall of ABC learning. It was a collective failure of the auditor and the management failed in a collective manner (Geoffrey et.al, 2016). It is the responsibility of companies to avoid related party transactions as it leads to the hampering of goodwill in the market. Further, the common public, as well as other investors, are of the view that the management is functioning the company for the sake of their own personal motive in place of the motives of investors (Gilbert, 2005). However, in the case of ABC, it can be commented that corporate governance was a weak and good performance by the auditors was missing (Carcello, 2012). Further, the financial statements of the firm failed to disclose even one relevant matter about the scenario prevailing within the firm. The financial statement projected information in a different manner and hence, was a major cause of the discrepancy. The auditors endeavored to hide every relevant matter and if they had not taken such a step, it would have been possible to delay the downfall of the company or safeguarding it as a whole. The auditor company here in this case is Ernst and Young LLP that has its headquarters located in New York. Auditing standard ASA701 communicating key audit concerns in the independent auditor report ASA 707 was adopted for corporate reporting in order to make sure that the relevant matters of audit are tracked effectively and only after proper evaluation, such relevant matters must be disclosed to the managing authority of the audit firm. Besides, there must be no delay in doing the same (Hoffelder, 2012). Hence, this auditing standard plays a key role in providing various efficacies to the users by assisting them in extracting significant details from financial statements and make appropriate decisions from the same. In addition, this also assists them in avoiding future losses and increasing transparency. Moreover, the financial statements of ABC could be considered effective if such relevant matters were not hidden from the stakeholders, thereby presenting a significant importance of the prevalence of ASA 701. It is the auditors responsibility to put prior caution in relation to major matters during the audit process. In addition to this, the auditor must also be capable in finding out important issues that possess a bigger risk of material misstatements in the financials, issues that are associated with big scale uncertainties, and the influence of such issues that may generate during the audit process. Factors related to auditing which was responsible for the ABC Learning collapse If ASA 701 prevailed at the time of functioning of ABC Learning then the significant facts and figures would have been easily disclosed. This gives rise to the fact that the absence of such standard played a key role in favoring the auditors to conceal important matters from the financial statements and to adopt non-communication and non-disclosure of relevant facts about the firm. Therefore, the absence of such standard together with other loopholes in the regulatory system resulted in the disintegration of the firm. Hiding of the manipulated transactions in the financial statements Related party transactions have framed the reduction as provisional and as false. The financial information of ABC provided to be grave because the asset portion on its balance sheet constituted around 80% of intangibles. Furthermore, the intangible assets comprised of various operating licenses. Such operating licenses became a nightmare for the Government. ABC claimed the high value of the license that was not trading and hence, high values were raised. All such matters would have resulted in a decline of the firms leverage ratios to a level that would force the auditors to depict it in the audit report and financial statements (Fazal, 2013).e trading sense of the term The points that had to be depicted to those responsible for governance properly portray the major issues that resulted in the disintegration of ABC Learning. Furthermore, the auditors would also have been liable to adhere to strict regulations and would have safeguarded many investors and the company itself as a whole, if the ASA 701 standard prevailed at that point of time (Carcello, 2012). Hiding of non-expectance of true sales estimation in the case of ABC Learning The major reason that attributed to the fall of ABC contained in the discrepancies of the company. As per the ACCC representative, the downfall of ABC was not due to the stiff competition in the market rather due to various financial mismanagement such as high debts and acquisition that was not normal[5]. Further, the fall can be justified due to the significant inaccuracies in the financial information projected by the company. Non-disclosure of proper financial information treatment in Audit report and audit report and notes to accounts: The non-disclosure of influence caused by material information was the firms plan that was cleverly implemented in accordance with the auditors because it would picture the unfortunate conditions of gigantic liabilities and the unmoved leverage ratio to the companys investors (Blay et. al, 2011). The auditors played the main role in this regard by beating all the influence caused because of such transactions by the ABC Learning, thus they resolute not to disclose the fact. The wrong classification of funds rose: The firms securities that were depicted as securities were now disregarded from the financials and found no place elsewhere. Further, the firm smartly endeavored to minimize its liabilities to portray an image that its securities are being provided to the third parties as compensation, and there are no chances for minimization of leverage (Cappelleto, 2010). In addition, the loans obtained by the firm was supposed to be depicted in the balance sheet until they were repaid but the transactions were shown as sales so that the sold securities were subtracted from the assets and there would remain no knowledge of liabilities to the companys customers. Approval of financial statements that covered faulty transactions: Firstly, it was nowhere disclosed that the ABC Learning applies the standard of AASB 138 that led to revaluation only under a specific situation. The firm and the auditors together were intelligent enough to show these dealings as petty variations in the balance sheet in accordance with the report of the management. At the inquiry time, it came to the forefront that the standard AASB 138 provides revaluation only under the special scenario. The same was not material to the company (Kaplan, 2011). The firm was intellectual enough to put such previously mentioned transactions at the ending notes of their financial statements. The auditors also played a key role in approving all the manipulation made by the company in the financial statements (Blay et. al, 2011). All issues that had taken place within the companys affairs were undertaken after attaining the prior permission of the auditors who played a key role in concealing relevant matters, thereby causing material misstatements in the financials. Recommendation Regarding financial reporting by companies, auditors both internal auditors and statutory auditors plays a vital role in regard to the informations and data are accurate and are provided in a transparent manner within the ambit of regulations laid down in the company law. Therefore, the auditors are assigned with the duty to thoroughly audit the books of accounts maintained by the company in preparation of the detail financial statement. The auditors are equally responsible for preparation of financial statement and correctly taken the audit process of books of accounts and to report the wrongdoing to the company in their auditors report in the interest of the stakeholders and investing community of the society (Baldwin, 2010). The auditors are the guardian and not the agent, so they should carry out their duty and to comply with the standards of auditing, and apply them in practice during the audit. The auditors should also try to be cognizant of working of the entity and accordingl y do his audit of the books of accounts in the company. Auditors can be held answerable for the loss to the persons or another entity those believed in the financial reports that are audited by the audit firm (Lapsley, 2012). The ABC learning case is the best example in the recent past as regard to misreporting in the financial statement of the company, there was a gigantic divergence of the regulations in operations and the actual applications on the ground, pointing fingers over the failure of administrative and regulatory mechanism in the system (Heeler, 2009). Policy masters in the policy-making institutions such as Accounting Standard Board, IFRS, and Basel are, therefore, pleading them to formulate the regulations for strict supervision and ethical audit system to be followed by the organizations so that integrity and transparency can be maintained throughout the system. Therefore, it is the need of the hour to have a strong practice of corporate governance and risk management strategy so that any type of risk can be mitigated (Matthew, 2015). Conclusion The organizations and companies in the system should stringently comply the best accounting policies and practices that have been laid out in the rules and regulations keeping in view the aspects of each finding in the financial procedures that are to be integrated at the time of preparation of the financial statements as any misleading information provided in the financial reporting by the companies will have an adverse impact on the countrys economy and image. As the case of ABC learning is the best-suited example and present many meaningful lessons to Lawmakers and all entities no matter how big or small they are regarding good corporate governance, transparency and the honest practices to be implemented by the management, experts, and auditors fraternity. It clearly indicates the deficiencies on the part of the management and the role of the auditor is questioned. Even after having two biggest giant in the field of audit, the frailties were observed in the financial statements th at are truly misleading. It is, therefore, advisable that no misleading informations are provided in the financial statements that can misguide the investors and stakeholders, only accurate and actual financial transactions should be incorporated in the financial report of the business carried out in the company in a transparent manner to uphold the integrity of the company. Organizations and companies should try to restore to regulatory accounting and best auditing practices which reflect the true impression of the accounts in the matter of companys business operations. References Baldwin, S., 2010. Doing a content audit or inventory. Pearson Press. Blay, A. D., Geiger, M. A. North, D. S. 2011. The Auditor's Going-Concern Opinion as a Communication of Risk. Auditing: A Journal of Practice Theory, 30 (2), pp. 77- 102. Cappelleto, G., 2010. Challenges Facing Accounting Education in Australia. AFAANZ, Melbourne Carcello, J 2012. What do investors want from the standard audit report? CPA Journal, 82 (1), 7. Christensen, J., 2011. Good analytical research. European Accounting Review, 20(1), pp. 41-51 CPA 2012. ABC learning collapse case study. [online] Available at: https://www.cpaaustralia.com.au/professional-resources/education/abc-learning-collapse-case-study [Accessed 5 September 2016] Fazal, H., 2013. What is Intimidation threat in auditing? [Online] Available at https://pakaccountants.com/what-is-intimidation-threat-in-auditing/ [Accessed 14 September 2017] Gilbert, W. Joseph J Terry J. E., 2005. The Use of Control Self-Assessment by Independent Auditors. The CPA Journal, 3, pp. 66-92 Geoffrey D. B,Joleen K,K. Kelli SDavid A. W 2016. Attracting Applicants for In-House and Outsourced Internal Audit Positions: Views from External Auditors. Accounting Horizons, 30(1), pp. 143-156. Heeler, D., 2009. Audit Principles, Risk Assessment Effective Reporting. Pearson Press Hoffelder, K., 2012. New Audit Standard Encourages More Talking. Harvard Press. IFAC 2015. Strengthening organizations, Advancing Economies. [online] Available at: https://www.ifac.org/auditing-assurance/clarity-center/clarified-standards [Accessed 14 September 2017] Kaplan, R.S., 2011. Accounting scholarship that advances professional knowledge and practice. The Accounting Review, 86(2), pp. 367383. Kruger, P., 2015. Corporate goodness and shareholder wealth. Journal of Financial economics, pp. 304-329 Lapsley, I., 2012. Commentary: Financial Accountability Management. Qualitative Research in Accounting Management, 9(3), pp. 291-292. Manoharan, T.N., 2011. Financial Statement Fraud and Corporate Governance. The George Washington University. Matthew S. E 2015. Does Internal Audit Function Quality Deter Management Misconduct?. The Accounting Review 90(2), pp. 495-527 Teen, M.Y., 2012. The ABC of a corporate collapse. [online] Available at: https://governanceforstakeholders.com/2012/12/28/the-abc-of-a-corporate-collapse/ [Accessed 14 September 2017]