ACCOUNTING CASE STUDY- EXECUTIVE SUMMARY Study Example | Topics and Well Written Essays - 500 words

ACCOUNTING - EXECUTIVE SUMMARY - Case Study Example Since CCL is an existing client for GE Capital, it should approve the loan at a lower interest rate of 4% and, on the other hand, extend the loan payment period to ten years. By doing this, it will achieve their strategy of keeping existing customers. The CCL financial statements indicate that it generates sufficient cash flow of a net earnings of $97.120 that is able to finance the interest payment of the new loan on a monthly basis. On the other hand, the CCL debt to equity ratio will not exceed 4: 1 when the new loan is included as required by CEF (Dirubbo). Loan disapproval to CCL: Disapproving loan to CCL will not favor the company’s strategy of keeping existing customers. In case the company loses CCL, It will have to find a new client to replace, and this requires the company to incur some costs hence not economical in the end. Hence, the cost of replacing existing clients could enable the company to find and win new businesses. The cost of losing existing clients as compared to finding new ones outweighs in the end. Therefore, to minimize the impact of losing CCL as well as the extra costs of finding new businesses, the company should approve the loan (Plumlee et al.). Short-term plan: The loan approval for $ 306, 000 to CCL to finance the trucking contract between Ford and the supplier is recommendable. The company should reduce the rate of interest from five percent to four percent and extend the period of payment to ten years. This will reduce the monthly payments facilitating provision of monthly reports of financial activities of CCL for the first year of loan repayments. The implementation of the loan approval on an immediate time is required since CCL meets the company’s requirements. This will motivate CCL to continue being clients and even attracting new businesses as well. Medium Term Plan: After the first year, the payments are separated to quarterly submission until the first loan of $ 36,000 is financed within the period of 8 years

Evaluating an International HRM Strategy Assignment

Evaluating an International HRM Strategy - Assignment Example This paper assesses not only the human resource management of ZARA per se but its HRM in relation to expatriate management if it were to enter into joint venture agreement in New Zealand (the host country). To this end, the paper begins with an analysis of the economic environment in New Zealand and its potential relationship with ZARA’s HRM policies. Keeping in view the ageing population pyramid and low female participation rates in New Zealand, hiring expatriates would be necessary as the joint venture team would be a mix of expatriates and host country employees. During this process, cultural training and supporting policies would be necessary to reduce failure rates of expatriate management. Finally, recommendations are offered towards the end regarding the areas that ZARA would need to focus on with respect to strategic human resource management in New Zealand. ZARA, an iconic global fashion brand, was founded by a businessman Amancio Orgega in 1975 owing to his aim of ex panding his factory’s operations by opening a new outlet in La Coruà ±a (don Quijote, 2013). The company has enjoyed great success since its inception with continuous growth in the fashion line being the epitome of ZARA’s overall business strategy. By 1986, the company enjoyed extensive distribution in Spain with outlets in all major cities, whereas two years later, the company decided to open its doors to the global market including its first destination- Portugal (don Quijote, 2013). ... 2. HRM and the Environment ZARA is considering entering into a joint venture in New Zealand which, currently, represents an untapped market for the company. It is, therefore, important to analyze the economic environment of New Zealand at present. The country’s economy now follows the free market mechanism with little government intervention. Its economy is highly export-driven and very competitive. Keeping this in mind, ZARA’s entry into the region could expose it to intense competition from other foreign firms. With an expected growth rate of 2.5% and 3.4%, the country demonstrates high resilience to the global economic downturn that negatively affected the economies of most of the developed world (IHS Global Insight, 2013). On the flipside, New Zealand’s currency appears undervalued compared to the dollar (IHS Global Insight, 2013). This combined with the potential for the housing market in New Zealand to heat up puts it at the risk of facing recessionary effe ct in near future. Furthermore, the low levels of inflation along with high unemployment levels (50%) (IHS Global Insight, 2013) could mean that the cost of hiring locals for ZARA would be low. Consumer spending is also expected to grow modestly which does not present an overly optimistic picture for ZARA. This is because of the high housing debts compared to slow growth in income. Additionally, government’s intention of reverting to modest surplus in 2015 shall result in reduced spending (IHS Global Insight, 2013). Nevertheless, there appears to be growth in consumer spending with the same increasing by approximately 1.2% by 2015 (IHS Global Insight, 2013). On the whole, the consumption picture appears to be mixed and one may expect fair amount of consumer

Mozart, Beethoven and Wagner Essay Example | Topics and Well Written Essays - 750 words

Mozart, Beethoven and Wagner - Essay Example Ludwig van Beethoven was also a masterly composer. His compositions are grouped according to numbers, and a significant composition by him is the by opus number. The numbers were assigned by publishers, which follow the order by which his famous compositions were published, and not what they meant. By this way, he created a second theme that sounds like an outgrowth or variation of the first theme. Though it is an inadequate statement it can actually be pinned down when some of their work is compared like; the opening movement of Beethoven’s Symphony 5. Mozart, on the other hand, was conservative and followed the rules. His music is in the confines of boundaries which he imposed on himself, yet they were still so marvelous, and he left us many incomparable masterpieces. Mozart was zealous in opera and stood unsurpassed and Wagner agreed that Mozart was a formidable competitor to him in the opera world. Mozart was also prominent in the world of composition for churches and his skills stand unsurpassed by Wagner and Beethoven. Beethoven, on the other hand, took a little touch of music from the two and them and infused his own unique personality into his music. Mozart composed less technical music it was precise and thematic and was designed to be played by any level while Beethoven and Wagner’s music was more aggressive. The two latter wrote their music with tension this does not come as a surprise since the Mozart played for royalties while Beethoven and Wagner played for the people.... Another renowned composer is Wilhelm Richard Wagner who was German by decent. One of his compositions was the Siegfried which is the 3rd that make up ‘Der Ring des Nibelung’. Siegfried is the third of Wagner’s operas, which he wrote, in 1851. Siegfried premiered as part of the complete ring cycle at Bayreuth on August 16, 1876 (Kivy, 2001). The three composers concentrated mostly on the classical style. It was the most popular style which both the three used alongside other styles like the romantic style. The use of sonata was the most defining characteristic of the style which was classical. Sonata was so pervasive at the time, that it invaded each and every genre of music eve church music as well as opera. The three composers above under discussion each created compositions that are a hybrid of other forms and the sonata form. An example is the fact that they used rondo form, variation form and blended it all with the sonata form. ‘Sonata form begins with simplicity and tonal stability, builds in tension towards a middle section, and reduces complexity and tension in the last section. The climax is always in the middle. That is where the most complex textures are usually found, as well as the most far-ranging key changes, and the most agitated rhythmic patterns’ (Wolff, 26). Beethoven liked to use a combination of Mozart’s use of multiple themes and Wagner’s monothematic technique. By this way, he created a second theme that sounds like an outgrowth or variation of the first theme. Though it is an inadequate statement it can actually be pinned down when some of their work are compared like; the opening movement of Beethoven’s symphony 5 (Wolff, 1990).

Ethical Behavior and Social Responsibility of Organizations Essay Example for Free

Ethical Behavior and Social Responsibility of Organizations Essay Introduction Proper ethical behavior is a significant part of conducting business. Organizations must therefore find ways to incorporate ethical considerations into their strategic plan. Firms need to practice self governance and obey existing laws if they are to ensure their survival and the well-being of the society in which they exist. The decisions made by an organization affect society as a whole. This paper will examine the social responsibilities of organizations to each of their stakeholders. These include: customers, employees, shareholders, suppliers, the local government and the environment. Each section of this report is supplemented with a case study illustrating the consequences of unethical behavior in business. Defining Ethics Ethics is a ubiquitous term that is subject to personal interpretation. Individuals and groups are guided by moral principles or values. Their beliefs help them to set standards for deciphering right from wrong (Little, 2011). Ethical values are dynamic and are therefore subject to renegotiation and change. These changes are often influenced by periodic and contextual circumstances. As ethical beliefs differ from person to person, it may not be entirely possible to instill a universal set of values. Also, many individuals have different points of reference when determining what is right and what is wrong (Little, 2011). Domestically, ethical values tend to be closely aligned. Individuals who have been socialized in a particular region are more likely to have similar values, laws, religion, knowledge and culture. With the emergence of free-trade agreements, many firms have the opportunity to conduct international business. Although these organizations are usually successful in aligning their economic interests, many have failed to recognize or understand the cultural norms, laws and ethical practices of the country they are conducting business with. Defining Social Responsibility An organization’s approach to social responsibility can impact its image and reputation. Depending on how an organization addresses this aspect of business, ethics can either be a strength or a weakness. Social responsibility can be divided into three categories: obligatory, reactive or responsive behavior (Duening Ivancevisch, 2008). An organization that acts out of social obligation tends to direct its behavior to the legal pursuit of profit (Duening et al., 2008). Socially reactive organizations often adhere to social norms, values and performance expectations (Duening et al., 2008). These organizations must be accountable for the ecological, environmental and social costs incurred by their actions (Duening et al., 2008). Lastly, socially responsive organizations often engage in behavior that exceeds the actions taken by socially obligated and socially reactive organizations. For example, these firms take stands on public issues, account for their actions, anticipate future needs of society, move toward satisfying them, and communicate with the government regarding existing and anticipated socially desirable legislation (Duening et al., 2008). As illustrated above, social responsibility can mean different things to different people. In a broad sense, social responsibility is a compliance to the legal obligations, social norms and ethical standards of society. For the purpose of this paper, I will use the broad sense of the term, unless otherwise specified. Social Responsibility of Organizations to Internal Beneficiaries Social Responsibility to Employees Legally, organizations are responsible for providing their employees with a minimum wage, safe working conditions and the freedom to form a union (Duening et al., 2008). These laws discourage management from creating workplaces that violate employee civil rights (Duening et al., 2008). However, many part-time employers, fast food restaurants and retailers provide only the minimum. Historically, employee benefits emerged out of pressure from employees, unions and the community. Today, most organizations are expected to go beyond the minimum legal requirements by providing their employees with â€Å"fringe benefits†, such as retirement funds, health and accident insurance (Duening et al., 2008). Many socially reactive and socially responsive organizations have extended their benefits to include training, career development, counseling, employee assistance programs, day-care and flex-time policies. As employee family life becomes more complex, organizations must find ways to offer support. Many modern organizations are concerned about employee satisfaction and the benefits associated with it. Employees who are content demonstrate a higher commitment to the organization, which often translates into less absenteeism, higher morale and higher productivity. Overall, the modern worker wants his job to be both meaningful and fulfilling (Duening et al., 2008). Social Irresponsibility to Employees: Wal-Mart Wal-mart is one of the most profitable and efficiently run organizations in the world. In 2005, the corporation grossed two-hundred and forty billion dollars in sales, yet still failed to provide its employees with health care benefits and a livable wage (Greenwald Gilliam, 2005). On numerous occasions, the organization neglected to provide its employees with the basic legal requirements. As a result, Wal-mart is now facing a number of class action law suits. Reports suggest that the organization is also notorious for keeping its stores understaffed. Although overtime is rarely an option, employees are still expected to work off the clock to get the job done (Greenwald et al., 2005). Workers are ordered to complete their tasks and are often told that they can be replaced. Given their unfortunate personal circumstances, many employees put up with this abuse. In terms of employee well-being, a large majority of Walmart’s workers cannot afford the company’s basic medical insurance at just seventy-five dollars per month. (Greenwald et al., 2005). However, Wal-mart encourages its employees to seek out section-8 housing, food stamps and government-provided health insurance. (Greenwald et al., 2005). Evidently, Wal-mart’s everyday low prices are a result of taxpayer subsidies. Nationwide, Wal-mart is costing taxpayers over one and a half billion dollars a year in subsidies for its employees (Greenwald et al., 2005). As a result of these policies, Walmart’s average sales employee is living below the Federal Poverty Line. (Greenwald et al., 2005). In 2001, Barbara Ehrenreich conducted a sociological study to determine whether or not she could survive on a low wage. She found a job at Wal-mart in Minnesota. Her study reaffirmed the poor working conditions that Wal-mart employees often endure. In the following quote Ehrenreich talks about a shirt that she wanted to purchase for work: â€Å"One of the rules is that our shirts have to have collars, so they have to be polos, not tees. Somehow Id missed this during orientation At $7 an hour, a $7 shirt is just not going to make it to my shopping list† (Ehrenreich, 2002, p.88). Given the low wage that she earns, she has difficulty justifying the purchase of a seven dollar work shirt. In the next quote, her co-worker Alyssa finds herself in a more difficult situation: â€Å"Alyssa is another target for my crusade. When she returns to check yet again on that $7 polo, she finds a stain on it. What could she get off for that? I think 10 percent, and if you add in the 10 percent employee discount, wed be down to $5.60. Im trying to negotiate a 20 percent price reduction with the fitting room lady when rotten luck Howard shows up and announces that there are no reductions and no employee discounts on clearanced items. Those are the rules. Alyssa looks crushed, and I tell her, when Howards out of sight, that theres something wrong when youre not paid enough to buy a Wal-Mart shirt, a clearanced Wal-Mart shirt with a stain on it. I hear you, she says, and admits Wal-Mart isnt working for her either, if the goal is to make a living† (Ehrenreich, 2002, p.100). Wal-mart is also notorious for squashing unions. If a branch plans to hold a union vote, the organization will hire new employees to dilute the number of people who are pro union. Moreover, the organization allots each store a seven-thousand dollar anti-union package; a thirty-thousand dollar undercover spy van, access to the organization’s one hundred thousand dollar anti-union hot-line; and the use of its seven-million dollar corporate jet for rapid response (Greenwald et al., 2005). If a branch is successful in a union vote, Wal-mart will not hesitate to close down that particular retail outlet. In summary, with the absence of unions and the current mind-set of management, it is highly unlikely that employee working conditions will improve any time soon. Social Responsibility to Shareholders Organizations have a social responsibility to their shareholders and must provide accurate information for investment decisions. (Duening et al., 2008). As stated by Duening and Ivancevich, â€Å"the ultimate action a stockholder can take is to sell the stock† (2008). It is important that organizational information be transparent and accessible. Also, organizations must be as efficient and effective as possible with the use of their resources. Any process or product feature that does not add value is wasteful and has an adverse effect on the bottom line. Investors of the twenty-first century want instant gratification and are therefore often fixated on short-term earnings. As corporations and their managers face pressure from shareholders to produce appeasing quarterly results, they often fail to think about the long-term well being of the organization, its employees and the environment. In recent years, there has been a significant increase in performance-based bonuses. In many multinational organizations, executives earn exponentially more than their lowest paid employees. As an incentive, executives often receive options for shares in the company. The value of those options is contingent upon the company’s short, medium or long-term performance. In 2010, chief executives at the United States’ five hundred largest firms collectively took home four billion dollars (DeCarlo, 2010). The value realized from exercised stock options accounted for the main component of their pay (DeCarlo, 2010). When managers act in their own self interest, bonus-based compensation schemes can have dire consequences for all parties involved. Social Irresponsibility to Shareholders: Enron In 2001, Enron filed for bankruptcy (Bryce, 2003). At the time, it was the largest bankruptcy in the history of the United States. The management cooked the books and misrepresented their position to shareholders (Little, 2011). Enron used mark-to-market accounting practices to manipulate earnings and to create a mirage of success. On several occasions, company executives lied to investors, overstated earnings and omitted critical information (Bryce, 2003). As a result, stakeholders lost billions of dollars. Also, the employee pension plan contained over two billion dollars in assets with sixty-two percent of the funds invested in Enron stock (Bryce, 2003). Thousands of Enron employees lost a bulk of their life savings. In addition, the California Public Employees Retirement system lost three billion dollars (Bryce, 2003). Many individuals, investment firms and hedge funds lost billions of dollars as well. While thousands of individuals lost large sums of money, Enron executives netted significant returns from their unethical stock manipulation and insider trading. Social Responsibility to the Supply Chain The supply chain is a system of organizations, people, technology, activities, information and resources involved in moving a product or service from the supplier to the consumer (Shafer et al., 2010). Within the chain, an organization can be both a supplier and a customer. Today, many organizations realize the importance of strengthening relationships and working with fewer suppliers. In effect, suppliers and their customers have become interdependent on one another. Traditionally, customers pitted suppliers against each other in hopes of getting the best price. Today, however, many suppliers play a vital role in the operations process. Through vendor-managed inventory systems, organizations have been able to avoid stockouts, thus reducing inventory costs (Shafer et al., 2010). Corporations that rely on sole sourcing have a partner-like relationship with their suppliers. The just-in-time delivery system is based on customers pulling their orders through the supply chain while suppliers ensure the inputs arrive according to schedule. Companies are also responsible for ensuring that their suppliers are treated respectfully and paid on time. In this relationship, both organizations have to turn a profit to ensure their survival. Social Irresponsibility to the Supply Chain: Monsanto Monsanto is an organization that has little regard for the farmers who use its products or the end users that consume them. In 1994, Monsanto introduced Posilac to the American market. Posilac is a bovine growth hormone that was developed to increase milk production. Today, â€Å"the United States is the only developed nation that permits humans to drink milk from cows that have been given artificial growth hormone† (Laskawy, 2010, para 3). This product was banned in twenty-seven countries including Canada and the European Union (Achbar et al.,2004). Moreover, Posilac was tested for only ninety days to assess for human toxicity (Achbar et al., 2004). There is widespread concern regarding the long-term effects of this product on the well-being of humans and animals. Despite these concerns, this product was approved by the Food and Drug Administration. Either Monsanto misreported its findings or the Food and Drug Administration did not look at them. Health Canada research showed that bovine growth hormone could be absorbed by the human body with the possibility of a link to cancer (Achbar et al.,2004). In addition to being harmful, Posilac is of little value to farmers and end users. Prior to Posilac’s release, there was an abundance of milk in the marketplace and farmers were told to produce less of it (Achbar et al.,2004) Monsanto is an organization that supplies harmful products and expects farmers to distribute them to the general population. This organization is responsible for the premature release of bio-engineered foods in the marketplace. The long-term effects of genetically-modified food are still unknown. However, Monsanto requires a high level of coordination to get its products to market. The firm often requires help from politicians, professors, scientists, experts, the general public, reporters, and the Food and Drug Administration (Achbar et al.,2004). Monsanto also engineers terminator seeds. These are seeds that terminate themselves through a suicide gene (Achbar et al.,2004). Since terminator seeds are only good for one season, Monsanto has lowered the intrinsic value of them. In nature, seeds are meant to be replanted annually. However, this product goes against evolution and human well-being. There are billions of people around the world who are starving to death and farmers have been denied the opportunity to replant their seeds on an annual basis.This product is immoral to its customers, the end users, and humanity as a whole. Nonetheless, Monsanto still expects its customers to distribute these products to the end users. Social Responsibility to Customers Value is defined as any action or process that a customer is willing to pay for (Shafer Meredith, 2010). To eliminate unnecessary waste, organizations should always be mindful of customer needs. Processes that drive up costs but do not increase the overall value of a product are wasteful. Firms should strive to reduce overproduction, inventory costs, unnecessary processing, wait times, transportation costs, and unnecessary human motions while minimizing the number of defects (Shafer et al., 2010). Competitive organizations continue to improve the quality and durability of their products (Shafer et al., 2010). However, if an organization fails to use its resources efficiently and effectively, it will likely be punished in the marketplace. A consumer has the ultimate decision on whether or not they will purchase a particular product. Therefore, companies should be adequately prepared to address consumer concerns and after-service needs, should they arise. Also, consumer goods should not do any biological or psychological harm to their customers. Products that have the potential to do harm to others should be put through rigorous testing to ensure they are safe for human use and consumption. Social Irresponsibility to Customers: Aguas del Tunari For twenty years, the World Bank has been working alongside successive governments toward independent development in Bolivia. The World Bank believes that a high proportion of leaders in developing nations are susceptible to corruption, including those in Bolivia. As a result, the organization has played a significant role in assisting the Bolivian government with privatization of its state-owned enterprises. In 2000, Aguas del Tunari corporation signed a forty-year contract with the Bolivian government to provide water to impoverished citizens in Cochabamba City, Bolivia. Aguas del Tunari was guaranteed a minimum annual return of fifteen percent on their two-and-a-half billion dollar investment (Salina Starr, 2008). As part of the deal, Aguas del Tunari Corporation agreed to repay thirty million dollars of debt accumulated by the state utility company (Salina et al., 2008). In an effort to pay off the debt, Aguas del Tunari corporation increased water rates to twenty dollars per month a thirty-five percent increase (Achbar, Abbott, Bakan Simpson, ,2004). However, the company failed to consider the fact that many of its new clients were surviving on only two dollars a day (Achbar et al., 2004). This meant that the cost of water would account for roughly twenty-five percent of their daily income (Achbar et al., 2004). To make matters worse, the government had privatized rain water, making it illegal to collect the rainfall (Achbar et al.,2004). When the newly-owned utility company shut off the water supply to non-paying customers, violent protests erupted across all classes of society. Ninety-six percent of citizens demanded that the contract with Aguas del Tunari be terminated (Salina Starr, 2008) . The government of Bolivia refused and told its citizens that there was nothing to negotiate. Protests spread to other major cities in Bolivia, eventually causing a ripple effect that would put the country into a state of emergency. To remedy this problem, the Bolivian government kicked Aguas del Tunari out of the country and resumed its role as the nation’s utility operator. In this unique case, it is difficult to conceptualize water as a commodity. Water is essential for survival and is seen as a birth right. Many would argue that the local government is responsible for regulating the cost of water and ensuring that it is affordable for all citizens. Since water surrounds us and falls naturally from the sky, it is difficult for a corporation to add value to it. Privatization of rain water is an extreme concept and certainly crosses some ethical boundaries. Social Responsibility of Corporations to External Beneficiaries Social Responsibility to Local Governments Elected officials have a social responsibility to the people whom they represent. Although corporations cannot directly cast a vote, they can leverage their power by donating large sums of money to political campaigns. In return, they often expect regulatory favors, exceptions, and preferential treatment. Corporations must however respect the local government and prohibit themselves from lobbying, bribing or manipulating local officials for the financial benefit of the organization. Although firms should not tempt government officials, politicians should also avoid situations where they may become vulnerable. As governments and organizations continue to work closely to achieve their objectives, they must ensure they maintain their ethical boundaries. When corporations gain power, the relative authority of local government diminishes and their authoritative power is often confined to their given jurisdiction. As organizations continue to grow, it is becoming increasingly difficult for them to be audited by local governments and regulatory bodies. For this reason, governments should consider implementing more rules and tougher sanctions to prevent legal and ethical misconduct. As history has shown, corporations are not always capable of self- governance. Social Irresponsibility to Local Governments: Long-Term Capital Management Deregulation of public enterprises and new business practices may not always be in the best interest of the general public. In 2000, the Clinton administration passed a bill that would deregulate the derivatives market and establish legal certainty for bankers (Lowenstein, 2002). The three major classes of derivatives are: futures, options and swaps. In detail, the derivatives market is not well understood by policy makers. There have been numerous cases of corporate fraud, financial mismanagement and unnecessary risk. Moreover, taxpayers have fronted billions of dollars to bail out financial institutions. In 2008, the value of the overall derivatives market was an astonishing six-hundred and sixty-eight trillion dollars (Sheridan, 2008). In 1994, Long-term Capital Management took the financial world by storm. This hedge fund was established by two proven Wall Street traders and two Nobel Laureates (Lowenstein, 2002). The fund started with four billion dollars in capital from its investors. The firm enjoyed four straight years of prosperity without a single monthly loss to be reported on their balance sheet. LTCM was thought to be the perfect hedge fund. It simply could not lose. LTCM leveraged its balance sheet trading by 30 to 1, while leveraging its off balance sheet trading by 250 to 1 (Lowenstein, 2002). At one point, the company had in excess of one trillion dollars in derivatives exposure (Lowenstein, 2002). In a short period of time, LTCM had lost nearly everything and turned to banks and the federal reserve for a bailout. At the time, this was the largest bailout ever. In Wall Street’s eyes, LTCM was simply too big to fail. It was thought that its demise would have had dire consequences for the entire economy. Since then, bigger investment firms have failed, bigger bailouts have been distributed and derivatives are still being heavily traded. It appears Wall Street still has a lesson to learn. It was the government’s deregulation of derivatives that allowed LTCM and other investment firms to behave unethically and do as they pleased. As a regulatory body, the Federal Reserve sent out the wrong message by bailing out LTCM. Condoning the behavior of this hedge fund created an environment that would encourage other financial institutions to take the same risks. Social Responsibility to the Environment and Future Generations Today, consumers and citizens increasingly expect more from organizations. Traditionally, firms externalized their costs while internalizing their profits. Today, however, many corporations are becoming ethically conscious and are working toward minimizing their carbon footprint. They have started to use mechanisms known as stakeholder management devices to respond to stakeholder claims (Duening et al., 2008). Progressive organizations have started working toward sustainable development to help create a world that is suitable for future generations. Many firms are also taking an interest in social issues. Some have started practicing corporate philanthropy. These positive efforts enhance a corporation’s good will and improves its overall image. This often translates into more sales and higher profit margins. Organizations that fail to take responsibility for their actions are often looked down upon. For example, an organization that shows complete disregard for the environment will likely tarnish their image and build up ill will. In effect, companies that act out of social obligation are viewed less positively than those that are socially responsive. Social Responsibility to the Environment and Future Generations: Tokyo Electric Power Company In March of 2011, the Japanese coast was rattled by a forceful 9.0 earthquake and a gigantic tsunami. The Fukushima Dai-chi and Fukushima Dai-ni power plants sustained critical damage (TEPCO to Compensate Nuclear Plant Victims, 2011). Both of these power plants are privately owned by the Tokyo Electric Power Company (TEPCO to Compensate Nuclear Plant Victims, 2011). The nuclear disaster revealed the company’s misplaced confidence and a failure to adequately forecast its worst case scenario. Furthermore, the company chose to disregard Japan’s tsunami history and relevant GPS data. TEPCO engineers did not factor in earthquakes that occurred prior to 1896 (TEPCO Dimissed Important Scientific Evidence in Planning Nuclear Plant’s Defense, 2011). Tsunami modelers at TEPCO factored in an earthquake of 8.6 magnitude in its worst case scenario model (TEPCO Dimissed Important Scientific Evidence in Planning Nuclear Plant’s Defense, 2011). The earthquake that occured on March 11, 2011 was four times more powerful than the maximum presumed (TEPCO Dimissed Important Scientific Evidence in Planning Nuclear Plant’s Defense, 2011). Given Japan’s geographical position and the volatility of nuclear energy, TEPCO should have put more thought into their calculations. After much delay, the Japanese government has ordered TEPCO to pay partial retribution to the citizens affected by this nuclear catastrophe. Beginning on April 28, 2011, TEPCO has started to compensate families in the nominal sum of twelve-thousand dollars for losses attributed to evacuation, having to stay indoors and nuclear contamination (TEPCO to Compensate Nuclear Plant Victims, 2011). These partial retributions are miniscule. Often times it is cheaper for a corporation to hire a good public relations specialist than to rectify the actual problem. This nuclear disaster has crippled local businesses, fishing operations, tourism and the livelihood of citizens. TEPCO’s greed and irresponsibility has cost the citizens of Japan and the nation at large by causing tremendous losses. Moreover, citizens in neighboring countries and the Western part of the United States have grown concerned over their personal well-being. In TEPCO’s case, the local government should have taken extra measures to ensure the facilities were built to withstand an earthquake of great proportion. Local governments are elected and represent the interest of the people. Therefore, it is their responsibility to ensure private organizations behave ethically. Companies should be forced to take full accountability for their actions. In regard to privatization of nuclear energy, governments should pressure organizations to strive for seven-sigma quality. As we have witnessed, a defect in nuclear energy can have significant implications for the general population. Conclusion As illustrated in this paper, organizations have a social responsibility to both their internal and external beneficiaries. Firms should always conduct business with integrity and concern for others. Although many organizations may feel pressure to increase their short-term earnings, they must retain their focus and uphold their social responsibilities to their stakeholders. Through long-term objectives, organizations can set standards that will ensure their survival. It’s important to emphasize that the decisions an organization makes will often affect society as a whole. As illustrated in the case studies above, companies that go astray or act in their own self interest can adversely affect the well-being of many stakeholders. However, tougher sanctions and an organizational credo may help give an organization ethical focus. In conclusion, by practicing self-governance and obeying existing laws, corporations will be well on their way to becoming socially responsible and dependable organizations. Works Cited Achbar, M. (Director/Producer), Abbott, J. (Director), Bakan, J. (Writer), Simpson, B. (Producer) (2004). The Corporation (DVD). Canada: Big Picture Media Corporation. Bryce, R (2003). Pipe Dreams Greed, Ego and the Death of Enron. New York, NY: Public Affairs. DeCarlo, S. (2010). What the Boss Makes.Forbes.com.Retrieved on April 18th, 2011 from http://www.forbes.com/2010/04/27/compensation-chief-executive-salary-leadership-boss-10-ceo-compensation-intro.html Duening, T. N., Ivancevisch, J. M. (2006). Managing Organizations Principles Guidelines. Cincinnati, OH: Atomic Dog. Ehrenreich, B. (2002). Nickel and Dimed On Not Getting By in America. New York, NY: Owl Book. Greenwald, R. (Director), Gilliam, J. (Producer) (2005). Walmart: The High Cost of Low Price (DVD). United States: Brave New Films Disinformation Company. Laskawy, T. (2010). Court Rules rBGH-Free Milk Milk is Better Than the Kind Produced With Articifical Hormones. Now What? Retrieved on April 19, 2011 from http://www.grist.org/article/food-2010-10-06-court-rules-on-rbgh-free-milk. Little, C. (2011). Ethics [class lectures]. Texas AM University-Commerce. Spring 2011. Lowenstein, R. (2002). When Genius Failed: The Rise and Fall of Long-term Capital Management. Great Britain: Clays Ltd and St. Ives plc. Salina, I. (Director), Starr, S. (Producer) (2008). Flow: For The Love of Water (DVD). United States: Oscilloscope Laboratories. Shafer, S. Meredith, J. (2010). Operations Management for MBAs, 4th Edition. John Wiley and Sons, Inc. Sheridan, B. (2008). 600,000,000,000,000? Newsweek. Retrieved on April 20, 2011 from http://www.newsweek.com/2008/10/17/600-000-000-000-000.html. TEPCO to Compensate Japan’s Nuclear Plant Victims. (2011). BBC News Asia_Pacific. Retrieved on April 17, 2011 from http://www.bbc.co.uk/news/world-asia-pacific-13090304 TEPCO Dimissed Important Scientific Evidence in Planning Nuclear Plant’s Defense. (2011). Japan Today. Retrieved on April 24, 2011 from http://www.japantoday.com/category/commentary/view/tepco-dismissed-important-scientific-evidence-in-planning-nuclear-plants-defense.

The Collapse of the Greenland Norse Essay -- european history

In Jared Diamond’s novel 'Collapse: How Societies Choose to Fail or Succeed' he discusses many civilizations that moved away from their homelands, grew in population, and then either failed or succeeded in their new environments. Throughout this essay I will attempt to explain the Collapse of the Greenland Norse, one of the many societies to rise and fall. The Greenland Norse faced multiple challenges including economical, agricultural, and unfriendly neighbors. Alongside Greenland other North Atlantic islands faced geographical challenges that lead to some of their falls as well. Yet, first I will discuss why the Norse left Scandinavia in search of new terrain. Similarly to other expansions the Norse, also known as Vikings, expansion was most likely caused by what’s commonly known as â€Å"push/pull† triggers. â€Å"Push† means that the population pressure lead to a lack of opportunities in their homeland while â€Å"pull† represents good opportunities and empty areas to colonize elsewhere (Collapse pg. 185). Another reason for their sudden expansion is autocatalytic process. For the Norse two very distinct events set of this type of process: one was that in A.D. 793 a raid took place in Lindisfarne Monastery yielding a rich haul of booty that lead to even larger yields in following years and the second reason being the discovery of the unpopulated Faeroe Islands lead to the finding of larger, more distant islands (Collapse pg. 186). Even though the islands looked promising the Norse soon found out otherwise as the geographical environments posed many problems. For instance, Orkneys which lays in the Gulf Stream was perhaps their most successful island as it enjoyed mild climates and allowed for great agricultural production, but on... ...the Norse (Collapse pg. 255). Furthermore, the Inuit was able to outlive the Norse due to their advanced fishing skills that the Norse refused to learn from their neighbors largely in part to religion. In the end though it was the Norse’s decision to refrain from eating fish, ringed seals, and whales that potentially could have saved them from collapse (Collapse pg. 274). Even though the Greenland Norse only survived for four hundred and fifty years they weren’t necessarily failures. After all their unique European society was able to survive longer than we’ve been able to survive here in America (Collapse pg. 276). If we, American’s, don’t learn from others past are we doomed to follow in their footsteps? In my opinion, the answer is yes, but hopefully we’ll be able to turn the tides before its too late and we fall into collapse like so many other societies.

Research on Legalizing Marijuana Essay

Legalizing Marijuana has been a controversial and extremely volatile topic ever since the 1970’s. Many people hold strong beliefs regarding this topic and the subsequent laws that have been passed in certain states for the use of the recreational drug. However, marijuana is not just a recreational drug, but has many different wonderful medical purposes for the American people. Marijuana should be legalized for recreational and medical purposes throughout this country. This â€Å"drug† should be legalized throughout this country because unlike many of the legal substances that the United States provides, no one has died or been hospitalized for the use of marijuana. Additionally, marijuana would be an amazing product that the government can have their hands on, and provide it to the people all while taxing and regulating its product. This would have multiple benefits throughout every major city, depleting the use of illegal drug cartel and being able to extract millions, maybe even trillions amount of dollars in tax revenue. Finally, one of my concluding reasons as to why marijuana should be legalized is because marijuana, unlike all the legal substances, is not a gateway drug and according to many studies â€Å"A small minority of Americans- less than 1 percent- smoke marijuana on a daily basis† (CQ researcher 531). Those who are opposing this highly beneficial and amazing drug that could help potentially save lives, hide behind their numerous walls of misconception. A famous quote once said by Bob Marley says â€Å"herb is the healing of a nation, alcohol is the destruction.† This quote, I believe, was said to the nation of the United States indirectly. The damages that alcohol can do to ones body is much worse than of that of marijuana, and yet it is still legal. Whereas marijuana is illegal in most states and has more medical uses and benefits. â€Å"The U.S. Centers for Disease Control and Prevention (CDC) reports that more than 37,000 an-nual U.S. deaths, including more than 1,400 in Colorado, are attributed to alcohol use alone (i.e. this figure does not include accidental deaths). On the other hand, the CDC does not even have a category for deaths caused by the use of marijuana† (Saferchoice 1). Just because marijuana has been referred to as a drug many perceive it as being the type of drug where it controls the household, or breaks up the family, ruining the lives of the ones who used it. However I believe that this â€Å"drug† needs to be reevaluated for the good of humanity. â€Å"If people are truly growing it for personal consumption, its not an issue with us†(CQ Researcher 527) said Marc Alcantara and his 22 officer unit focus on commercial marijuana growing. Officers of the San Mateo County Narcotics Task Force has his priorities straight when it comes to marijuana, but he is not talking about your â€Å"backyard smokers.† Marc is talking about the indoor growing operations that have skyrocketed in the last 5 years over 265 percent. â€Å"Indoor growing operations are capable of turning out three crops a year, typically grossing $250,000 per crop.†( CQ Researcher 527) With marijuana already a lucrative California crop, Alcantara believes that we should go completely legal in the state of California, and legalize the entire cannabis industry and tax the product. Of course, Alcantara is not the only person who gets a say in this, as Governor Arnold Schwarzenegger thinks that it is not a time where we can just legalize something as powerful as this, but its defiantly time to talk about it. Unfortunately â€Å"right now is a hard time to convince the U.S. Congress that smoking weed is medicine† (CQ Researcher 527). The big question as to why marijuana hasn’t been legalized yet is out on the table. People have been talking about this proposition for the last five to six years. Evaluating marijuana as a revenue source requires solid estimates of the size of marijuana crops, and the figures vary widely. A nationwide cannabis crop estimate of 10 million metric tons- worth 35.8 billion- was what  was recorded by the White House drug- policy office in 2003. But some dismiss this fact because individuals believe that the United States would need somewhere between â€Å"†¦ 4 to 10 times more cannabis than it needs to cover domestic consumption.†(CQ Researcher 530) Even with a high demand of consumptions the United States government would be able to regulate and tax the marijuana accordingly to help stimulate the economy. â€Å"If you made it licit, and taxed it, the price would collapse.† (CQ Researcher 530) Stating that it would be harder to sell on the streets making the product more of a pharmaceutical drug instead of a street drug. In 2005 cigarette smoking had declined drastically, â€Å"†¦378 billion cigarettes sold in the United States was the lowest number since 1951, when the nations population was about half its present size.†(CQ Researcher 530) Marijuana was not only more safe than the effects and harm of alcohol but also it is more safe than the effect of tobacco as well. Although marijuana has its perks, it is still a drug and can very well have its down sides. â€Å"Long term marijuana use can be addictive for some people† (CQ Researcher 531). For those people who smoke marijuana 27 out of 30 days, critical skills related to attention, memory, and learning were significantly impaired, even after they had not used the drug for at least 24 hours. But although these side effects will happen, they will however not kill you, unlike the effects of alcohol and tobacco. Also with the effects of marijuana in early adolescents, can increase the likelihood of drug problems later in life. Legalizing marijuana would not only help the individuals who could use the powerful effects of it, it could also make room in our jails and make it easier on our police officers out on the streets. No more will an officer have to make a report for someone who was casually smoking a joint on the park bench. â€Å"The budget issue is very important, but we should not loose sight  of the moral component- 700,000 Americans are being arrested every year for nothing more than a marijuana possession. Those arrested are separated from their loved ones, branded criminals, denied jobs and in many cases prohibited from accessing public assistance for life.† (CQ Researcher 533) Marijuana is used in our lives for entertainment purposes, for recreational purposes, and most of all health purposes. A recent Washington Post review of a concert by The Dead (formerly the Grateful Dead) described seeing in the audience a â€Å"50-something with a tucked in polo button down shirt, and a blackberry holster at the hip slyly taking a hit of a joint.† (CQ Researcher 532) This individual wasn’t trying to hurt anyone, nor was he trying to bother anyone, but because the substance he was smoking was illegal he was targeted. This man in any other setting wouldn’t be looked at as a criminal but instead he is now getting a ticket and a humiliating felony on his recored, that could potentially ruin his life. Marijuana has been a topic of discussion for the last decade. Whether to legalize it, or keep it a street drug. Some say that legalizing it will only make it worse for the environment, making it everywhere around us, and having the whole world high. Others say that legalizing it will help, not only the economy, but the people living in the United States tremendously. Some say that keeping it illegal is better, but then complain about how bad the economy is, while others say that keeping it illegal will only hurt us in the long run. Whichever side your on, make sure you have evidence that supports your reasoning. There are so many different opinions to this matter and I feel that in the sooner years it will should be legal. My thoughts I felt as if this article not only brought both elements to the table but  also gave me different ways to look at the certain situation. This article was both inspiring and reasonable. It showed me that there are certain reasons as to why this product isn’t quite legal on the street just yet. This article gave me facts that I had no idea about and I really liked how it didn’t side with one specific side. Having both sides of the argument in this topic showed me a new light towards why not legalize it. There are many reasons as to why you shouldn’t legalize it, but not too many for the side of why too legalize it. I found a lot of great and intellectual information in this article that I would love to use in my life, and found a few new ways to think of things towards this situation. I enjoyed reading this article a lot and actually look forward in reading some more in my future.

On the Job Training Essay

The students now days, enrolling related to Hospitality Industry. Because it is the in-demand course in all Universities and it has higher job opportunities. One of the fastest growing sectors of the economy of our time is the hospitality industry. The hospitality industry alone is a multi-billion dollar and growing enterprise. The hospitality industry includes cooperative relationships with multiple organizations. For example, hotels are allied with airlines, car rental agencies, other hotels, suppliers, travel agencies, and restaurants. Thus the hospitality industry includes multiple dimensions such as the tourism industry, the restaurant industry, and sundry other industries that are related to these industries. The hospitality industry includes the following segments: lodging (hotels), commercial food service (restaurants and catering), institutional food service, casinos, cruise lines, travel agency services, event services, convention hosting, arena services, sport complex management, resorts, parks, clubs, tourism, and transportation services related to the other segments of the industry. Read more:Â  OJT Experience in Restaurant It is exciting; in hospitality industry it will be never boring and offers unlimited opportunities to us. The hospitality industry is diverse enough for people to work in different areas of interest and still be employed within the hospitality industry. The Bachelor of Science in Hotel and Restaurant Management is a 4 year degree course that aims to develop the student to become a hotel and restaurant entrepreneurs and executives in the city of San Pablo in the province of Laguna and the entire country in general. It will provide the students with basic, liberal education and professional skills and entrepreneurship in the hotel and restaurant industry. Aside having a four year course it also offers a 2 year course which is the Diploma in Hotel and Restaurant Management that aims to provide skilled in hotel and restaurant employees and entrepreneurs in the San Pablo City Laguna. Being a certified student of the Laguna State Polytechnic University one of the pre-requisite of a student to be able to pass the courses chosen is On the Job training to undergo, On the Job training (OJT) is one of the best training methods because it is planned, organized and satisfied as the employee’s worksite. OJT will generally be the primary method used for broadening the employee’s skills and increasing productivity it is particularly appropriate for developing proficiency skills unique to as employee’s job- especially jobs that are relatively easy to learn and require locally-owned equipment and facilities. Through the experience and through the hard-work, the students the students itself will be urgently by its employment. The employability refers to a person’s capability of gaining initial employment, maintaining employment, and obtaining new employment if required (Hillage and Pollard 1998). In simple terms, employability is about being capable of getting and keeping fulfilling work. More comprehensively, employability is the capability to move self-sufficiently within the labor market to realize potential through sustainable employment. For individuals, employability depends on the knowledge, skills and attitudes (KSA’s) they posses, the way they use those assets and present them to employers and the context (e. g. personal circumstances and labor market environment) within which they seek work due to it. (Campbell, J. P. 1990) First, Campbell defines performance a behavior. It is something done by the employee. This concept differentiates performance from outcomes. Outcomes are the result of an individual’s performance, but they are also the result of other influences. In other words, there are more factors that determine outcomes than just an employee’s behaviors and actions. In Laguna State Polytechnic University the prestigious school provides a quality of education to pursue the students to learn everything that covers their chosen career; they give the students a lot of opportunities to experience a lot of things that some other students can’t experience in their chosen courses. The training affects the performance of the Hotel and Restaurant Management students in terms of what they experienced and what they have learned. Having training makes the students more confident to face any challenges that will measure the capabilities of their skill to handle the responsibilities given to them. Thus, training plays a big role in every Hotel and Restaurant Management student’s career, from this they will be out of their shell and will start to grow. Locking for a bright future with their mind and heart holding the learning’s they have got to make their performance the best of all the best. This research study could provide information that can help the department to pursue more possible opportunities for the Hotel and Restaurant Management Students, especially second year students, this could be a basis for them to know if the past graduate students learn from their OJT program, and if theirs something they can do for their selves to progress their training when its already their turn. Because to keep the students abreast to this fast changing industry the students need to updated and competent to be and effective Hotel and Restaurant Management students, because the industry needs an effective people in their chosen field, competent enough for what they have learned and more for development. Not only for their own development but also for the country’s development. Background of the Study: The researcher wants to find out what is the difference between the 4th year On the Job Training from their 2nd year On the Job Training to their employability. In the Laguna State Polytechnic University the On the Job training of the Hotel and Restaurant Management students will be conduct during their 2nd year and 4th year level of the school period. The students is supposed to use the things they have learned in school and consign it in during their practice this can improve their acquire skills and knowledge to Front office Management, Food and Beverage Management and Housekeeping Management, for them to be competitive enough and be employable in the future. There are trainees who seemed not too learned from their chosen establishment, maybe some students are not taking their training seriously because they think OJT is a simple requirement they need to complete, to pass the semester. Some establishment does not prioritize the trainee that’s why they only gained limited skills and facts from their chosen establishment. Sometimes the student is immovable in one area and do not swivel to another. So the result of this is lacking knowledge and skill to another area, because the establishment concentrates the students to what rea they have start with. The 4th year level On the Job training Program for the students is the verdict time for them to apply what they have really learned in four years of studying Hotel and Restaurant Management. In this level the researcher wants to find out the improvement of the students from their past training, whether the trainee’s are physically and mentally fit? Are their learning’s enough for them to be competitive is this field? Or are they are still the juvenile students that don’t take seriously from what they are doing?