The Importance Of External Business Environment Commerce Essay

The Importance Of External Business Environment Commerce Essay Most firms operate in a very uncertain , volatile and dynamic environment. To remain competitive they need to anticipate changes in their external marketing environment and be prepared to adapt business activities accordingly. Industries need to be prepared and have some outline plans for dealing with different eventualities so that they are less likely to be exposed to loosing business. The external environment of different organizations differ in many ways, but the theme of every organization is to use their current resources and the information or data the have to their advantage and transform it into the required out puts, and this change happens against a background of external influences which are outside the industry and can effect the organization and its activities. The external environment is very complex, dynamic and volatile and unpredictable. But these factors have to be considered for any meaningful analysis of an industry. key determinants :- Political , Economical , Social , Technology , Environment , Legal as few determinants overlap for example the political, social, and economical can be said to socio-economic determinants. swot : analysis strengths weaknesses opportunities and threats The actual strategies being pursued at any time reflect the organizations strategy content, and the important issues are. The ability of the organization to add value in meaningful ways which exploit organizational resources to achieve synergy, also at the same time. Satisfy the needs of the organizations major stake holders. Particularly its share holders and customers. Strategic management involves devising a complete roadmap for capturing and maintaining competitive advantage by determining the broader concepts of mission, goals, and long and short-term objectives; and by defining and managing the more specific details of analysis, decision-making, actions, roles, responsibilities, and timelines needed to do so. A sustainable society is one that meets current environmental, economic, and community needs without compromising those needs in the future. There are three main categories of issues that affect a sustainable society: 1. Environmental issues 2. Economic issues 3. Community issues Today, companies are expected to practice good business ethics by fostering a sustainable society. Environmental issues may be caused by nature or humans. Environmental issues include the following: Changes in the climate, such as global warming Natural disasters, such as hurricanes The alteration of terrain or bodies of water due to natural disasters or development Deterioration of air quality, both outside (such as fumes from motor vehicles and airplanes) and inside (such as toxins released from paint and varnish) The release of hazardous materials from activities such as oil spills and the dumping of hazardous waste. The depletion or deterioration of natural resources, such as farmland, water, trees, and minerals. The displacement of wildlife or depletion of their food sources A company can influence those environmental issues caused by nature through its response and management of the after-effects. For example, a companys financial or emergency response to a hurricane illustrates a companys contribution to an environmental issue in a sustainable society. This is also a good example of an environmental issue that crosses over into a community issue.but by choosing active practices for oil gas or other leading industries which use more fuel and other natural energy resources they can take the following steps to be more eco friendly Use renewable resources, such as bamboo and treated pine timber whenever possible. Plant trees on company property and in the community. Reduce the number of motor vehicles and airplanes to lower emissions and noise pollution. Use recycled and biodegradable materials in product development. Operate facilities during non-peak utility and travel hours. Design products that are recyclable or biodegradable. Use alternative fuel vehicles whenever possible. Develop alternative energies, fuels, and products. Offer financial incentives to employees who travel to work by bicycle, public transportation, and hybrid or electric motor vehicles. Or Offer employees the opportunity to work from home part of the time. Purchase products from companies that employ sustainable packaging. Analysis on the external environment of UK mobile industry : The ideology that defines the boundaries of companies and industries stay unaffected, even if they include diverse implications as technology, boundaries can mainly be focused on the basic service, quality and price. Analysis of the external environment of the UK mobile phone industry key determinants of success . Economic: Due to the affluence of various market segments and consumption patterns of different individuals and direction of the economy in which a firm operates. Each firm must consider economic trends in the segments the effect the industry on both national and international level .government plays a major role in the economy and its activities influence both demand and supply side. The social factors that affect the firm involve beliefs, values, and attitudes, opinions of the persons in the firms external environment as developed from the ecological religious and ethnic conditioning. As the attitudes change among people, so does the demand. Entry of women into the labor market has brought about a profound social change. Technological uses of technology in UK mobile industry is a big factor, and important. Same the technology represent the main technical issues. Same as GPRS, 3G, MULTIMEDIA and many more technical supports for to enjoy people mobile and its technology. In UK there are approx45 million phones in circulation with an estimated 77% of population having at least one mobile phones. UK users alone dispose 15 million mobile phones annually. POLITICAL Political issues helps and improves the legal aspects of UK mobile phone industry is a huge running industry in world. Many companies are the hands of it. Interference of political factor in UK mobile phone industry by the government or judicial have helped the mobile industry to a large amount like the blocking the unwanted sites and making internet browsing safe. The decisions made by the government and political play a key factor in any mobile industry. Political factors define the legal and regulatory issue within the firm and the mangers who formulate the mobile companys strategy. This factors has an influence on two government functions. Supplier function Customer function There are the three factors to determine the external environment of the UK mobile phone industry in key determinants of success. Summary The development improvement and sustainability of an industry are dependent upon the relevant strategic options becoming available and used to the organizations best advantage within that industry. The methods of analysis used in this report are internationally recognized and provide a sound foundation for market and competitor analysis. The following report looks at and assesses the macro and micro environment of the mobile network industry on a domestic and global scale. PESTILE ANALYSIS One variation of PESTLE ANALYSIS has three main elements. The first two are often developed simultaneously with the third done as part of a following review process. 1. EXTERNAL FACTORS- LIST 2. IMPLICATIONS OF EXTERNAL FACTORS- IDENTIFY 3. RELATIVE IMPORTANCE OF IMPLICATION OF EXTERNAL FACTORS-DECIDE 1 LIST EXTERNAL FACTORS A DESCRIPTIVE LIST OF FACTORS, Influences or pressure that have identified Implications and impacts, now or in the Future, for the organization is compiled for Each of the PESTLE components: POLITICAL Global, national, regional, local and community trends, changes, events etc. ECONOMIC world, national and local trends, changes, events etc SOCIAL Developments in society- culture, behavior, Expectations, composition etc. TECHNOLOGICAL Developments: computer hardware, software, other equipment, material, products and Processes etc. LEGAL Word/ EU/ National legislation changes, Prospects etc. ENVIRONMENTAL Global/ EU/ national/ local issues, pressure, Movements etc. Porters 5 Forces: The model of the Five Competitive Forces was developed by Michael E. Porter in his book à ¢Ã¢â€š ¬Ã… ¾Competitive Strategy: Techniques for Analyzing Industries and Competitors in 1980.Since that time it has become an important tool for analyzing an organizations industry structure in strategic processes .Porters model is based on the insight that corporate strategy should meet the opportunities and threats in the organizations external environment. Especially, competitive strategy should base on and understanding of industry structures and the way they change. Porter has identified five competitive forces that shape every industry and every market. These forces determine the intensity of competition and hence the profitability and attractiveness of an industry. The objective corporate strategy should be to modify these competitive forces in a way that improves the position of the organization. Porters model supports analysis of the driving forces in an industry. Based on the informa tion derived from the Five Forces Analysis, management can decide how to influence or to exploit particular characteristics of their industry. The Five Competitive Forces are as follows Bargaining Power of Suppliers The suppliers comprises all sources for inputs that are needed in order to provide goods or services. Supplier bargaining power is likely to be high when:  ·Ã¢â€š ¬Ã‚  Ã¢â€š ¬Ã‚  The market is dominated by a few large suppliers rather than a fragmented source of supply,  ·Ã¢â€š ¬Ã‚  Ã¢â€š ¬Ã‚  There are no substitutes for the particular input,  ·Ã¢â€š ¬Ã‚  Ã¢â€š ¬Ã‚  The suppliers customers are fragmented, so their bargaining power is low,  ·Ã¢â€š ¬Ã‚  Ã¢â€š ¬Ã‚  The switching costs from one supplier to another are high,  ·Ã¢â€š ¬Ã‚  Ã¢â€š ¬Ã‚  There is the possibility of the supplier integrating forwards in order to obtain higher prices and margins. This threat is especially high when  ·Ã¢â€š ¬Ã‚  Ã¢â€š ¬Ã‚  The buying industry has a higher profitability than the supplying industry,  ·Ã¢â€š ¬Ã‚  Ã¢â€š ¬Ã‚  Forward integration provides economies of scale for the supplier,  ·Ã¢â€š ¬Ã‚  Ã¢â€š ¬Ã‚  The buying industry hinders the supplying industry in their development (e.g. reluctance to accept new releases of products),  ·Ã¢â€š ¬Ã‚  Ã¢â€š ¬Ã‚  The buying industry has low barriers to entry. In such situations, the buying industry often faces a high pressure on margins from their suppliers. The relationship to powerful suppliers can potentially reduce strategic options for the organization.  ·Ã¢â€š ¬Ã‚  Ã¢â€š ¬Ã‚  The product is undifferentiated and can be replaces by substitutes,  ·Ã¢â€š ¬Ã‚  Ã¢â€š ¬Ã‚  Switching to an alternative product is relatively simple and is not related to high costs,  ·Ã¢â€š ¬Ã‚  Ã¢â€š ¬Ã‚  Customers have low margins and are prices sensitive,  ·Ã¢â€š ¬Ã‚  Ã¢â€š ¬Ã‚  Customers could produce the product themselves,  ·Ã¢â€š ¬Ã‚  Ã¢â€š ¬Ã‚  The product is not of strategically importance for the customer,  ·Ã¢â€š ¬Ã‚  Ã¢â€š ¬Ã‚  The customer knows about the production costs of the product  ·Ã¢â€š ¬Ã‚  Ã¢â€š ¬Ã‚  There is the possibility for the customer integrating backwards. Bargaining Power of Customers: The bargaining power of customers determines how much customers can impose pressure on margins and volumes. Customers bargaining power is likely to be high when  ·Ã¢â€š ¬Ã‚  Ã¢â€š ¬Ã‚  They buy large volumes, there is a concentration of buyers,  ·Ã¢â€š ¬Ã‚  Ã¢â€š ¬Ã‚  The supplying industry comprises a large number of small operators  ·Ã¢â€š ¬Ã‚  Ã¢â€š ¬Ã‚  The supplying industry operates with high fixed costs,  ·Ã¢â€š ¬Ã‚  Ã¢â€š ¬Ã‚  High switching costs for customers  ·Ã¢â€š ¬Ã‚  Ã¢â€š ¬Ã‚  Legislation and government action Threat of New Entrants: The competition in an industry will be the higher, the easier it is for other companies to enter this industry. In such a situation, new entrants could change major determinants of the market environment (e.g. market shares, prices, customer loyalty) at any time. There is always a latent pressure for reaction and adjustment for existing players in this industry. The threat of new entries will depend on the extent to which there are barriers to entry.  ·Ã¢â€š ¬Ã‚  Ã¢â€š ¬Ã‚  Economies of scale (minimum size requirements for profitable operations),  ·Ã¢â€š ¬Ã‚  Ã¢â€š ¬Ã‚  High initial investments and fixed costs,  ·Ã¢â€š ¬Ã‚  Ã¢â€š ¬Ã‚  Cost advantages of existing players due to experience curve effects of operation with fully depreciated assets,  ·Ã¢â€š ¬Ã‚  Ã¢â€š ¬Ã‚  Brand loyalty of customers  ·Ã¢â€š ¬Ã‚  Ã¢â€š ¬Ã‚  Protected intellectual property like patents, licenses etc,  ·Ã¢â€š ¬Ã‚  Ã¢â€š ¬Ã‚  Scarcity of important resources, e.g. qualified expert staff  ·Ã¢â€š ¬Ã‚  Ã¢â€š ¬Ã‚  Access to raw materials is controlled by existing players,  ·Ã¢â€š ¬Ã‚  Ã¢â€š ¬Ã‚  Distribution channels are controlled by existing players,  ·Ã¢â€š ¬Ã‚  Ã¢â€š ¬Ã‚  Existing players have close customer relations, e.g. from long-term service contracts, Threat of Substitutes A threat from substitutes exists if there are alternative products with lower prices of better performance parameters for the same purpose. They could potentially attract a significant proportion of market volume and hence reduce the potential sales volume for existing players. This category also relates to complementary products. Similarly to the threat of new entrants, the treat of substitutes is determined by factors like  ·Ã¢â€š ¬Ã‚  Ã¢â€š ¬Ã‚  Brand loyalty of customers,  ·Ã¢â€š ¬Ã‚  Ã¢â€š ¬Ã‚  Close customer relationships,  ·Ã¢â€š ¬Ã‚  Ã¢â€š ¬Ã‚  Switching costs for customers,  ·Ã¢â€š ¬Ã‚  Ã¢â€š ¬Ã‚  The relative price for performance of substitutes,  ·Ã¢â€š ¬Ã‚  Ã¢â€š ¬Ã‚  Current trends. Competitive Rivalry between Existing companys : This force describes the intensity of competition between existing companies in an industry. High competitive pressure results in pressure on prices, margins, and hence, on profitability for every single company in the industry. Competition between existing players is likely to be high when  ·Ã¢â€š ¬Ã‚  Ã¢â€š ¬Ã‚  There are many players of about the same size,  ·Ã¢â€š ¬Ã‚  Ã¢â€š ¬Ã‚  Players have similar strategies  ·Ã¢â€š ¬Ã‚  Ã¢â€š ¬Ã‚  There is not much differentiation between players and their products, hence, there is much price competition  ·Ã¢â€š ¬Ã‚  Ã¢â€š ¬Ã‚  Low market growth rates (growth of a particular company is possible only at the expense of a competitor),  ·Ã¢â€š ¬Ã‚  Ã¢â€š ¬Ã‚  Barriers for exit are high (e.g. expensive and highly specialized equipment).

Huckleberry Finn Ending Controversy

Mark Twain is widely regarded as one of the greatest writers in the history of the United States, having spun many memorable and iconic tales in his own creative and unique style. Held high in this position as a great â€Å"American† novelist, Twain flirted with the creation of a universal masterpiece in his novel The Adventures of Huckleberry Finn. However, critics disagree on whether or not Twain’s work with Huckleberry Finn truly reaches the stature of a masterpiece, and that disagreement stems from the course the author chose for his conclusion. T. S Eliot finds Twain’s ending to be true to his style and the rest of the novel.Leo Marx finds that the ending abandons the apparent goals of the novel, leaving the work short of excellence. Twain ventured into the arena of greatness by combining two timelessly classic elements, and casting them as the central â€Å"characters† of his work. According to Eliot, Twain uses the â€Å"character† of the Mis sissippi River to relate to all nature, and he uses the title character of Huckleberry Finn to relate to the boy of mankind. Twain uses the former to guide the story and the latter to experience it. He engages the reader with his signature, easily accessed narrative and builds a strong foundation from these two universal elements.The only real question is the payoff; can the strength of the beginning be carried through to the end? This is where debate ensues, for Twain seemingly departs from the path he has laid throughout the novel to bring the story to resolution in a manner consistent with Twain’s writing, but not so much with the established course of this novel. Critics, such as T. S. Eliot, see the story’s ending, filled with the game-like attempts of the Tom Sawyer to free Jim, as a way to bring the reader back to the feelings of the beginning of the novel. It is a position with which I cannot disagree more.Instead, it is the view of Leo Marx that I see as the b est dissection of the ending of The Adventures of Huckleberry Finn, one filled with flaws, significant enough that they â€Å"jeopardize the significance of the entire novel. † (Marx 291) Marx points out that the beginning of Huck’s journey with Jim has one specific goal, the goal to get Jim to freedom. This is made clear when Huck discovers the Duke and the Dauphin have sold Jim, causing Huck to say: After all this long journey . . . here was it all come to nothing, everything all busted up and ruined, because they could have the heart to erve Jim such a trick as that, and make him a slave again all his life, and amongst strangers, too, for forty dirty dollars. (199) Marx states â€Å"Huck knows that the journey will have been a failure unless it takes Jim to freedom. (294) However, at the end of the book we discover through Tom that Jim is already free. The impact of this revelation threatens the entire purpose of the journey, and diminishes the events along the way . Possibly the most disappointing aspect of the ending is Tom’s plan to free Jim from the barn. Filled with humor and games, the freeing of Huck’s close friend is made into a joke.This comes after the fact that (1), Huck has made his journey down the river a quest for Jim’s freedom, and (2), Huck’s â€Å"growth in stature† (as characterized by Marx, p. 296) has elevated the tone of the story beyond farce. Two of the most prominent examples of this growth — Huck’s decision to â€Å"go to hell† rather than let Jim be sold back into slavery, and his sorrow felt for the Duke and Dauphin while seeing them run out of town, tarred and feathered, by the angry townsfolk – are trivialized for the sake of a few laughs at the end. We believe that we have experienced a metamorphosis of Huck.Starting as a naive and ignorant child, skeptical about the ways of society, we are lead to believe that Huck finally has a grasp on what it mean s to be human, as well as a â€Å"mature blending of his instinctive suspicion of human motives with his capacity for pity. † (Marx 295) Huck’s participation in Tom’s scheme not only sacrifices the character growth that seemed a central theme of Twain’s story to that point, but also seems to represent a mishandling of the conflict identified by Marx the difference between â€Å"what people do when they behave as individuals and what they do when forced into roles imposed upon them by society. (Marx 300) Huck is well aware of his goal: freedom for Jim. The relapse of his character without equal awareness is inexplicable without explanation from the author. As Marx points out: The conflict between what people think they stand for and what social pressure forces them to do is central to the novel. It is present to the mind of Huck and, indeed, accounts for his most serious inner conflicts. He knows how he feels about Jim, but he knows what he is expected to do about Jim. 300) The idea of freedom in the minds of Huck and Jim are different from the simple definition of freedom, â€Å"for freedom in this book specifically means freedom from society and its imperatives† according to Marx (p. 303) The freedom sought by Huck and Jim is freedom both in the literal sense of being free from slavery, and in the figurative sense of being free from society’s expectations. However, given Huck’s questionable decision to go along with Tom, Huck gives into social pressure once again.He has given in to they ways which we were lead to believe he had overcome; he has given into the one convention he set out to escape from in the first place. It is with the appearance of Tom, that Huck’s quest for freedom no longer seems so important, even though he was previously willing to â€Å"go to hell† for what he had so diligently fought for along the way. The idea, the goal, is devalued for no clear reason. Such a departure of character cannot go simply unaddressed by the author.With Huck shifting back into the childish role we observed in the beginning of the novel, we also see yet another character simultaneously regressing, Jim. The tedious, degrading actions of the boys, in an effort to free Jim, are at first noted by Jim as such. However, he quickly becomes inexplicably submissive and accepting of what the boys are doing to him. This bears no resemblance to the Jim presented to the reader when the two companions were on the river. Twice Huck plays practical jokes on Jim, and twice Jim calls him out as being disrespectful, hurtful, and inconsiderate.And now, with freedom ever so close, the reader is expected accept that Jim’s passion for freedom and intolerance of nonsense has too vanished along with the maturity of Huck. Exactly how Twain expects this to be believable by the readers is questionable, unfortunately an answer is never offered. Instead, Twain seemingly dismisses the growth of his protagonists and resorts to the easy western comedy style from earlier in the novel. In the view of Eliot, this return to the introductory feel of the novel is a perfect example of great literary form.Instead, this return is nothing more than the apparent defeat of our seemingly maturing protagonist. Eliot’s argument that this return is of great form causes Marx to note in rebuttal, â€Å"A unified work must surely manifest coherence of meaning and clear development of theme,† and this regression of character fails to do either. With the ending of The Adventures of Huckleberry Finn being so clearly chronicled by Marx as a failure to complete the initiated theme, it is left only to see Eliot’s argument for the greatness of the ending as an argument refuted.As clear as Marx’s chronicle, it is equally clear that â€Å"Huck Finn’s besetting problem [is] the disparity between his best impulses and the behavior the community attempted to impose upon him †¦Ã¢â‚¬  (Marx 304). It is this disparity that needs resolution in order to have a proper ending to Huckleberry Finn. It is the transformation of the character, Huck Finn, through progression, not regression that would make the book a pure work of excellence.

Why People Arent Discussing Community Service Scholarship Essay Samples and What You Should be Doing Right Now About It

Why People Aren't Discussing Community Service Scholarship Essay Samples and What You Should be Doing Right Now About It As a customer service representative of the business, it's your duty to guide customers in best way together with provide them instructions about use of merchandise or solutions. Among other popular suggestions is to demonstrate that you put in an application for a grant out of financial need. Customer service department is among the most essential departments of the organization and customers can receive their issues resolved at customer services easily but if your customers are still suffering from assorted issues and problems, odds are you may lose valuable clients. Before you enroll, read our guide on a number of the hazards of global volunteer trips and the way to understand if it's the best option for you. If it is a frequent concept, concentrate on attempting to say it better than anyone else. Not everybody can afford superior education, and that's why some men and women elect to join the institution's scholarship program. Consider how you've changed as a consequence of assisting others. Reiterate how you changed as a consequence of your community support, why you found the work important, or the way it helped others. The very first thing you may want to do before writing any essay for this matter is to follow along with the directions. For writing your scholarship essay, the very first point is to earn a great outline. There are various letter documents and essay examples that are employed in the subject of education. You might need several scholarship essay examples as a way to succeed as they provide original ideas concerning such sort of writings. The scholarship essay examples shared here are an exceptional plan in telling you the way to compose the ideal scholarship essay. Some can argue that you need to develop a theme for your essay and write goals. Steer clear of rambling and make certain each topic contributes to the general essay. Rather than being given a prompt, you may be requested to compose an essay on the subject of your choice. The Advantages of Community Service Scholarship Essay Samples The comments part of the service report has an important function in determining customer satisfaction and contentment. Whether for a yearly report or customer file, the structure of a report is dependent largely on the sort of report and to who the report is going to be submitted to. Reports, generally speaking, are well-organized and well-structured documents aiming to offer important info on a specific issue to be examined and analyzed by a particular audience or party. They must always be accurate and clear in order to draw a clear conclusion and provide further recommendations regarding the issue. The Basic Facts of Community Service Scholarship Essay Samples For quite a few, telling a story is the simplest and best method to compose a scholarship essay. After all, you're speaking about yourself. Write an anecdote, a quote, an intriguing fact or a story from your private life to illustrate what you will write about later on. There's no ideal recipe for writing an essay, but there are a few ingredients that you're able to add to make it even more appealing. In a nutshell, the meat of the essay was not there. You won't have the ability to compose an outstanding essay in case you don't devote your soul to it. Unfortunately, my story isn't one of a type. There are various ways to begin an essay and all you have to do is to use one that can supply the most positive impact to the individuals who will review your scholarship essay. Having us to address any of the issues which you may face when coming up with scholarship essay topics will be advisable for you. If you're asking for a scholarship, odds are you're likely to should compose an essay. For instance, if you're asking for a general academic scholarship, you may want to speak about a particular class you took that really piqued your interest or inspired your present academic and career objectives.

Providing Teenagers Contraceptives in High Schools is the...

Providing Teenagers Contraceptives in High Schools is the Next Step Approximately four million teens get a sexually transmitted disease every year (Scripps 1). Today’s numbers of sexually active teens differ greatly from that of just a few years ago. Which in return, projects that not only the risk of being infected with a sexually transmitted disease (STD) has risen, but the actual numbers of those infected rise each year as well. These changes have not gone unnoticed. In fact have produced adaptations as to how society educates its young adults about sex, using special programs, various advertising, and regulating sexual education courses in public schools. One major adaptation is the advancement and availability of†¦show more content†¦Many students learn about sex and contraception through high school programs, so who better to give them out than the main educators of how to use them. Some high schools in large cities do distribute condoms to their students, just as many colleges all over the United States. Yet this should not be limited solely to college students and inner city high school students. It is most likely that there are sexually active teens in every high school, bringing risks to all of them. Dr. Joe. McIlhaney, founder and president of the Medical Institute for Sexual Health in Austin, TX says adolescents and young adults are at the highest risk for contracting STDs (McIlhaney 24). This mostly stems from the promiscuity of teens today. An article based from an NBC News report contained results from a survey conducted last spring of ’99. This survey was based on interviews with 400 teens between the ages of fifteen and seventeen. It found that a good portion of teenagers sexually active in America have had three or more sexual partners (Scripps 2). Moreover nearly 20 percent of students have had at least four sexual partners by the time they reach the 12th grade (McIlhaney 24). With that in mind, high school should be the first source for condoms, pharmacies and hospitals should come second, because promiscuous teens seem to be roaming high school hallways more often. Public high schoolsShow MoreRelated Teen Pregnancy Essay1771 Words   |  8 Pages175,000 of these new moms are age 17 years or younger. The teen pregnancy rate in the United States is higher than most other industrialized countries and is ten times as high as the rate of Japan and the Netherlands. Although the pregnancy rate for teenagers has been reduced in the past twenty years, the number of teenagers has increased and therefore so has the number of teen pregnancies and births (www.agi-usa.org/pubs/fb_teen_sex.html). 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The former involving in study, thinking and production, while the latter deals with entertainment, relaxation or self satisfaction. He further says that high school student use mass communication more as play than as learning, more for pleasure and entertainment

Essay Question Assess the Extent That Malcolm X Achieved...

Essay Question: Assess the extent that Malcolm X achieved his goals in The Civil Rights Movement in America. (Consider the legacy Malcolm X left behind) Malcolm X aspired for justice and liberalisation for all African-American people during the late 1950s and early 1960s. He was a dynamic spokesperson and used religious concepts from the Nation of Islam to appeal to many African-Americans. Malcolm X was an activist for Black Nationalism and separation as solutions to the scourge of white racism. He preached against many teaching of other Civil Rights activists, and discarded ideas of non-violence and desegregation. His rough bringing combined with religious concepts from the Black Muslims, was what brought about his biased opinion†¦show more content†¦Malcolm was quite successful at verbally defeating his black and white adversaries during the heated politically discussions. Sometimes the media miss interpretated some of Malcolm Xs ideas and presented him in negative manners. This was often to detour the general publics attention from his influential and inspirational speaking mannerisms. This was the case, especially after the after the Brown vs. Board of Education school integration decision in 1954, Malcolm was increasingly attacked by the white media. They said that his morals were no different from that of a racist and that he was fighting for blacks to overrule whites. This statement was backed by the morals of Black Muslims, his ideas of racial separateness, and Black Power. Malcolm was continually on the offence and going racial slurs only made the matter worse. It was only through visiting Mecca in 1964 that Malcolm discovered the true Muslim religion and saw the fundamentals of theShow MoreRelatedDeveloping Management Skills404131 Words   |  1617 Pagespermission, in this textbook appear on appropriate page within text. Copyright  © 2011, 2007, 2005, 2002, 1998 Pearson Education, Inc., publishing as Prentice Hall, One Lake Street, Upper Saddle River, New Jersey 07458. All rights reserved. Manufactured in the United States of America. This publication is protected by Copyright, and permission should be obtained from the publisher prior to any prohibited reproduction, storage in a retrieval system, or transmission in any form or by any means, electronicRead MoreManagement and Study Unit41787 Words   |  168 PagesCOVER UNISA CENTRE FOR BUSINESS MANAGEMENT PROGRAMME IN PURCHASING AND SUPPLY MANAGEMENT STUDY GUIDE FOR MODULE 2 PURCHASING AND SUPPLY MANAGEMENT PPSM026 i  © 2011 University of South Africa All rights reserved Printed and published by the University of South Africa Muckleneuk, Pretoria Author: Ms Irma Fourie PPSM026/1/2011-2013 ii PURCHASING AND SUPPLY MANAGEMENT (PPSM026) CONTENTS TOPIC 1: THE PURCHASING FUNCTION: AN OVERVIEW The purchasing function in perspective The task of purchasingRead MoreManagement and Study Unit41775 Words   |  168 PagesCOVER UNISA CENTRE FOR BUSINESS MANAGEMENT PROGRAMME IN PURCHASING AND SUPPLY MANAGEMENT STUDY GUIDE FOR MODULE 2 PURCHASING AND SUPPLY MANAGEMENT PPSM026 i  © 2011 University of South Africa All rights reserved Printed and published by the University of South Africa Muckleneuk, Pretoria Author: Ms Irma Fourie PPSM026/1/2011-2013 ii PURCHASING AND SUPPLY MANAGEMENT (PPSM026) CONTENTS TOPIC 1: THE PURCHASING FUNCTION: AN OVERVIEW The purchasing function in perspective The task of purchasingRead MoreStephen P. Robbins Timothy A. Judge (2011) Organizational Behaviour 15th Edition New Jersey: Prentice Hall393164 Words   |  1573 PagesOrganizational Behavior This page intentionally left blank Organizational Behavior EDITION 15 Stephen P. Robbins —San Diego State University Timothy A. Judge —University of Notre Dame i3iEi35Bj! Boston Columbus Indianapolis New York San Francisco Upper Saddle River Amsterdam Cape Town Dubai London Madrid Milan Munich Paris Montreal Toronto Delhi Mexico City Sao Paulo Sydney Hong Kong Seoul Singapore Taipei Tokyo Editorial Director: Sally Yagan Director of Editorial Services:

Aplaying for a job Free Essays

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Ethical Issues in Auditing Company Encompasses

Question: Discuss about the Ethical Issues in Auditing for Company Encompasses. Answer: 1(a): Audsabumrungrat, Pornupatham and Tan (2015.) states that business risks of a company encompasses factors that are primarily within the purview of the company, however, few risks factors are uncontrollable in nature by the companies in general and industries as a whole. The assessment of business risk profile comprises of evaluating several parameters as enumerated below: Risk pertaining to the claims: The business decisions undertaken by HIH showcases that the company has invested towards coverage sectors that entails a high risk profile. The quantum of high claims arising from the large sets coverage which were perceived to have low chance of occurrence, such as natural disasters and marine calamities, later on resulted in disbursing of high claim amounts. The inclusion of FAI in the company portfolio again raised the risks pertaining to high claims as the business operations of FAI aggravated faulty decisions in providing coverage to businesses that entailed high probability of claims. Exogenous Risks: Insurance products offered by the companies that cover natural events encompassed a high amount of risk depending on the probability of occurrence (https://www.treasury.gov.au). The change of governmental policies can in term hike the level of claims made the companys clients. The exogenous risks pertaining to the company delves towards increasing the costs of the company (Hih.com.au. 2016). Since the company focused upon providing coverage from natural disasters, the frequency of occurrence of calamities such as the Florida Typhoons and Sydney hailstorms increase the losses substantially. The maritime risks such as security concerns along with adverse weather conditions resulted in high payout to clients, therefore the company has experienced heightened amount of risks pertaining to the environmental risks. Financial Risk: The company was involved in controversial insurance products resulting towards insolvency issues. The high quantum of losses resulting from high insurance claims showcases the amount of cash outflow from the company. Moreover the acquisition of FAI that was grossly overvalued to the tune if over $300 million further aggravated the solvency issues. The subsequent writing off $400 million from the books of HIH further deteriorated the solvency conditions. The shifts in company policies towards increasing the amount of insurance coverage on high risk areas such as coverage of natural calamities, coverage of maritime activities along with the level of insurance on film industry resulted towards adverse. The restricted access to management reports aggravated the amounts of wrongdoing in management operations. Post the acquisitions of FAI the company showcased losses in case of its US and UK business (Budescu,., Peecher and Solomon 2012). The overstating of the balance sheets and income st atements resulted in misrepresentation of the financial positions in turn resulting in favorable ratios in terms of efficiency activity, liquidity and solvency positions of the company. Moreover, large lists of losses from Florida Typhoons, hailstorms in Sydney along with losses from coverage of films further escalated the adverse financial position that the company is in. 1(b): It can be inferred that involvement of directors from Arthur Anderson compromised the level of integrity in terms of preparation of financial statements. The of material fact from the HIH prospectus also reiterates that degree of disclosures was insufficient and misleading for investors of the company and its different stakeholders. In terms of opinion of auditors in relation to the financial statements, their evaluations were grossly misstated due to the degree of influence the board members exerted upon the release of financial figures. Moreover, the discounting of amount earmarked for prudential margin by the company reduced the degree of buffer that insurance companies applied to safeguard against claims of natural calamities. Therefore the risks of bankruptcy increased substantially. The implementation of reinsurance policies by the company aggravated the amount of inherent risks. That contributed significantly towards the misappropriation of funds away from the company. 2a) Reviewing of the facts from previous court cases of HIH: Statements of court cases relevant to the clients: The findings of the Royal Commission stated that HIH collapsed because of its failure to mitigate the risks pertaining to the adverse factors emerging in the insurance markets around the globe. The Commission Report also stated the presence of mismanagement pertaining to the company operations. Moreover, the claim by HIH that the downfall of the company was caused by inappropriate regulatory sanctions made by Australian Prudential Regulation was dismissed by the Commissioner of the Royal Committee (Ministers.treasury.gov.au. 1996). The subsequent recommendations made on the strengthening the independence of auditors after the Royal Commission Report showcased that the comprising of auditory guidelines were present in case of HIH, thereby indicating passively Anderson of being guilty of malpractices in auditory services. The instances of receiving payments to the tune of $124,000 by the insurance agents towards the awarding insurance payments of higher amounts have been observed by the investigators. Moreover, the involvement of company officials into large scale misappropriation of funds has been showcased by the investigation reports (Ministers.treasury.gov.au. 1996). Further, insurance coverage of assets that encompassed high rates of risks were aggravated in numbers as the company officials along with the insurance agents streamlined such efforts in consideration for monetary benefit from a few of the companys clients. Statements of court cases relevant to the creditors: As can be observed from the instances with regards to Daniel Wilkie, Terry Cassidy along with other board members, the court found them guilty of suppressing material facts regarding the financial performance of the companies. Moreover, serious lapses were observed in case of limiting the independent functioning of audits. Further, the court also found by the management of sacking or removing the financial analysts hired by the company who have expressed their concerns regarding the rising levels of losses and the financial structure of the company. Moreover, the trials and the subsequent indictment of the board chairman along with the other board members showcases that the managements followed large sets of corporate malpractices. 2b) Depiction the factors pertaining to negligence actions by HIH: Lack of transparency in corporate practices: Bhattacharjee, Maletta. and Morena (2015) states that transparency in terms of depicting true and fair view of the companys financial position along with the level of transparency in operating and investing activities are prerequisites for a companys prospects. Moreover, the presence of directors with questionable background and subsequent challenges to ethical parameters has put a doubt in terms of the integrity in business practices of the company. Issues regarding corporate governance practices: The conflict of interests arising from the wrongful governance practices can be attributed for the adverse financial repercussions in an organization (Bhattacharjee, Maletta and Moreno 2015). The non alignment of the shareholders interests with that of the managers resulted in negative effect upon the levels of corporate governances measures undertaken by HIH. Moreover, the issues pertaining to the restriction upon the non executive directors by limiting their power among the board of directors led to increment towards the level of bad governance practices. Gunin-Paracini, Malsch and Paill, (2014) states that the quantum of transparency influences ethical consideration in auditing. Moreover, the rise in principle agent problems followed from corporate governance issues resulted towards higher level of agency costs as the non alignment of interests have far reaching outcomes (Audsabumrungrat. and Tan, 2015.). 3a: The inclusion of executives from the external auditor showcases a clear conflict of interests in terms both the audit firm and the company. Gunin-Paracini, Malsch and Paill (2014) states that in order to increase the level of transparency the workings and proceeding of auditors have to be devoid of any influence from the management of the audited firm. Further, as per guidelines laid down in the Corporations Act, 2001 the company auditor requires to declare in person or as an audit firm that no external sources of coercion have been inflicted upon the proceedings of the auditor. Moreover, the Act also states the auditors require declaring whether external audit has been conducted independently. The appointment of former executives of Anderson showcases that there is an underlying set up between the company and the external auditor. Point to be noted is the fact that the chairman of the board of director himself is former employee of Anderson; thereby the magnitude of fraud in auditin g the financial statements can be measured by such adverse managerial appointments. The reasons behind the inclusion of the Andersons former executives on the managerial board of HIH can be several, primary among them being enumerated below: To bring expertise into managing company policies in accordance with the accounting standards and legal framework of the market that the company deals in. In order to initiate window dressing comprising of suppressing large losses that the company incurred from covering high risk assets. To vitiate the independence of external auditors of the firm through alignment of Andersons goals of higher revenues, from audit and non audit services, with that of HIHs objective to increase its market price. To overstate the acquisition costs of FAI with the external auditor providing favorable audit reports. In order to suppress details of actual financial performance of the company through assistance from its external auditors. 3b Auditing firms usually tends to have expertise in terms of regulations and guidelines pertaining of investigating servies (Keune and Johnstone 2012). The non audit services provided by the external auditor of the firms tend to have several advantages as enumerated below: The safeguarding of revenues from high payments towards corporate taxes can be initiated with the assistance from the external auditors as the auditors have sufficient knowledge regarding tax laws and acts (Griffin, J.B., 2014). The insight into the operations of the company by the external auditor because of inspections and evaluation of company activities for preparation of audit report may in turn make the auditors well versed with the companys operations. Thereby, the auditors of the company are in a better position to provide consultation services. Exposure to operating and financing activities of the firm helps the auditors to earmark the discrepancies in different sets of corporate operations. The probability is high that the auditor is well versed with the challenges that are unique to the industry, in which the company belongs to. Moreover, the fees for consultative services from the external auditor are lesser than what is charged by other consultants. 3c: There is multiple numbers of ethical violations committed in the current case by the auditors of the firm. In this case, the fees for non audit services does not exceed the amount of auditing fees thereby not exceeding the ceiling prescribed in the taxation laws such as the Corporations Act, 2001 among others. However, the presence of former associates of Arthur Anderson, the external auditors, in the board of HIH followed by non audit fees that is close to matching the level of audit fees provides space for speculations. Investigations into the case revealed that the investors were provided audited financial statement that contained inflated levels of profits and were bereft of any fair representation of material facts. Moreover, it can also be inferred that the losses faced by HHI could have been mitigated if adequate amount of auditory control on the company were applied. Thereby, the auditors have restrained themselves from following ethical guidelines while conducting audits. 3d: Different recommendations enumerated in the Ramsay Report and CLERP 9 aims towards ensuring corporate governance practices in organization through limiting the scope of unethical auditory practices. The recommendations are depicted as follows: Ramsay report suggested that the auditor requires formally declaring that the auditor has been independent in conducting auditory services. The CLERP 9 requires that the CEOs and CFOs certify that their balance sheet and financial statements have been prepared in accordance with the relevant corporate laws. Entitlement of shareholders to submit queries relating to the audit in the annual general meeting. Compulsory attendance of auditors in annual general meetings of their companies. Compulsory disclosure of payments made to the auditors for non audit service fees. The compulsory declaration made by directors certifying that they are satisfied that non audit services does not compromise the independence of the auditor. The implementation of such recommendations is aimed towards limiting the quantum of unethical practices with regards to misrepresentation of material facts in financial statements. Moreover, the key executives are included under the aforementioned sets of recommendations in order to make them accountable for any lapses in fair representation of financial figures in financial statements and annual reports. Further, emphasis has been made towards ensuring that audit proceedings are bereft of any biasness by recommending that the declarations are made by auditors in regards to independence of auditory services. Moreover, in order to further mitigate unethical practices the non audit services provided by the auditors are checked for any influence upon the auditory proceedings. References and Bibliography: Amiram, D., Chircop, J., Landsman, W.R. and Peasnell, K.V., 2015. Mandatorily Disclosed Materiality Thresholds, their Determinants, and their Association with Earnings Multiples.Available at SSRN 2631876. Audsabumrungrat, J., Pornupatham, S. and Tan, H.T., 2015. Joint Impact of Materiality Guidance and Justification Requirement on Auditors' Planning Materiality.Behavioral Research in Accounting. Beck, M.J. and Mauldin, E.G., 2014. Who's really in charge? Audit committee versus CFO power and audit fees.The Accounting Review,89(6), pp.2057-2085. Bhattacharjee, S., Maletta, M.J. and Moreno, K.K., 2015. The Role of Account Subjectivity and Risk of Material Misstatement on Auditors' Internal Audit Reliance Judgments.Accounting Horizons,30(2), pp.225-238. Boritz, J.E. and Huo, K., 2013. The Effect of Alternative Business Model Representation Techniques on Business and Audit Risk Assessment. In Academic Accounting Association (CAAA) Annual Conference, June. Budescu, D.V., Peecher, M.E. and Solomon, I., 2012. The joint influence of the extent and nature of audit evidence, materiality thresholds, and misstatement type on achieved audit risk.Auditing: A Journal of Practice Theory,31(2), pp.19-41. Chen, T.T., Zhang, F.F. and Zhou, G.S., 2016. Secrecy Culture and Audit Opinion: Some International Evidence.Journal of International Financial Management Accounting. Foo, W., Bliss, M.A., Gul, F.A. and Lai, K., 2016. Auditors Response to Analysts Forecast Properties: Some Evidence from Audit Fee Pricing.Available at SSRN 2800904. Griffin, J.B., 2014. The effects of uncertainty and disclosure on auditors' fair value materiality decisions.Journal of Accounting Research,52(5), pp.1165-1193. Hih.com.au. (2016). HIH Insurance - Royal Commission. [online] Available at: https://www.hih.com.au/Group-HIHRoyalCommision.html [Accessed 1 Sep. 2016]. Gunin-Paracini, H., Malsch, B. and Paill, A.M., 2014. Fear and risk in the audit process.Accounting, Organizations and Society,39(4), pp.264-288. Hih.com.au. (2016). HIH Insurance - Royal Commission. [online] Available at: https://www.hih.com.au/Group-HIHRoyalCommision.html [Accessed 1 Sep. 2016]. Hines, C.S., Masli, A., Mauldin, E.G. and Peters, G.F., 2015. Board risk committees and audit pricing.Auditing: A Journal of Practice Theory,34(4), pp.59-84. Keune, M.B. and Johnstone, K.M., 2012. Materiality judgments and the resolution of detected misstatements: The role of managers, auditors, and audit committees.The Accounting Review,87(5), pp.1641-1677. Legoria, J., Melendrez, K.D. and Reynolds, J.K., 2013. Qualitative audit materiality and earnings management.Review of Accounting Studies,18(2), pp.414-442. Ministers.treasury.gov.au. (1996). Press Release - Report of the HIH Royal Commission [16/04/2003]. [online] Available at: https://ministers.treasury.gov.au/DisplayDocs.aspx?doc=pressreleases/2003/020.htmpageID=003min=phcYear=2003DocType=0 [Accessed 1 Sep. 2016].. Sarens, G., Christopher, J. and Zaman, M., 2013. A study of the informal interactions between audit committees and internal auditors in Australia.Australian Accounting Review,23(4), pp.307-329. Woo, S., Rhee, C.S. and Woo, S., 2015. The Effect Of Directors And Officers Liability Insurance On Audit Effort.Journal of Applied Business Research,31(6), p.2039. Yao, D.F.T., Percy, M. and Hu, F., 2015. Fair value accounting for non-current assets and audit fees: evidence from Australian companies.Journal of Contemporary Accounting Economics,11(1), pp.31-45. Treasury.gov.au. (2016). 3. Aftermath of the HIH collapse | The Treasury. [online] Available at: https://www.treasury.gov.au/PublicationsAndMedia/Publications/2015/Economic-Roundup-Issue-1/HTML/article-3/3-Aftermath-of-the-HIH-collapse [Accessed 1 Sep. 2016].