Mergers Essay Example | Topics and Well Written Essays - 1500 words

Mergers - Essay Example Ravenschaft and Scherer (1987) state that firms will merge because they think that this will result into an increase in efficiency in the new firm formed after merging. Efficiency is expected to rise after the increase in capital, sharing of expertise, elimination of duplicate processes in production and the realization of economies of scale. All these advantages associated with mergers will influence firms to merge, however according to Hughes (1989) mergers may not lead to the realization of efficiency and they may lead to even increased inefficiencies in the firm. Firms will merge in order to gain market power, market power increases where firms that merge are in the same industry and produce the same products in the market and when they merge they form a monopolistic firm which controls the prices and the quantity produced. The firms will also merge as a way to increase their competitive advantages over their rivals and this makes the new firm a market leader, however this may not be the case where government policies may restrict firms to form monopolistic market forms where the firms controls the prices and quantity produced. Firms have different levels of market share in the market, when the firms merge they form one big firm those market share is equal to the sum of both firms market share, as a result the market share increases and this acts as a motivating factor for firms to merge. The reason why a larger market share is preferred is because a firm will realize economies of scale, increase sales volume, increase sales revenue and therefore increase profits earned. Tax advantages: Firms will also merge in order to gain a tax advantage, all firms will pay tax to the government depending on the level of profits they have acquired, and firms will therefore merge with loss making firms as a way of reducing their tax burden. However in most countries this has been discouraged where policies have been put in place to limit the act of profit making firms shopping for loss making firms to gain tax advantages. Diversification: According to Henry (2000) firms will also merge as a way to smooth earnings, smooth earning results into a smooth stock price over time and therefore investors are attracted to invest in the companies stocks. When two firms merge their earnings and stock prices are more stable and this increases investor confidence and therefore realize increased capital base from investors equity. Increasing geographical coverage: Firms will merge as a way of increasing their geographical coverage, example two law firms namely the Battle and Booth company and the Mack and McLean company merged in order to increase their geographical coverage and therefore offer their services to a larger population, this is because when firms merge they form a larger com-any and the large company is able to invest more and diversify than a small company. Sharing of expertise and technological integration: Firms will gain expertise and gain from mergers, managers and other experts share ideas and this helps in improving the efficiency and also the productivity of a firm, this sharing is made possible when firms merge but this would not have been possible when the

Exploration of methods and problems

Exploration of methods and problems Introduction Increased competitive advantage and the rapidly changing global environment (Bach, 2005) are the two most important reasons for putting pressure on firms for their survival. It is these measures which make the organisation realise the need for strategic human resource planning. Strategic human resource planning links human resource planning towards the strategic direction of the company (De Cenzo Robbins, 1996) ensuring that the organisations continued growth is maintained by attracting and retaining people with high-calibre (Cooper, Robertson, Tinline, 2003). This brings into the need for the right recruitment and selection policy and procedures to be in place. But, ironically, it is still seen that many organisations still adopt wasteful approaches towards selections and most of the time vacancies get filled in an unplanned manner without a systematic job analysis keeping in mind whether specific jobs would be needed or not (Marchington Wilkinson, 2008). As poor selection decisions can have ruinous effects for the organisation ranging from cost factors to productivity, it is essential to recruit and select the right people. These facts form the basis of my dissertation study exploring the recruitment and selection methods and problems within an organisation. This proposal provides a brief outline about my intended research process. I begin by highlighting the significance of my research along with the objectives I tend to achieve. Secondly, I explain briefly about the literature review available on the recruitment and selection process. The methodology section will tell about the techniques I will adopt for the data collection and analysis. And the limitations that may be encountered during my study are covered in the final section. Rationale behind my study and its Significance This research is informative and significant from the viewpoint that behavioural traits should be checked during the recruitment and selection process for the effectiveness of quality management making sure that both the technical and social systems so as to become difficult to imitate by competitors due to casual ambiguity and path dependency leading to sustaining organisational performance for a long time (Ahmad Schroeder, 2002). Also, an effective recruitment and selection strategy not only makes sure that the company achieves competitive advantage and success but it is also important because new recruits are a medium for amending organisational cultures as well as considered an opportunity for acquiring new skills by managers (Marchington Wilkinson, 2008). In addition, a wrong selection can be expensive in relation to retrain poor performers and to recruit new employees in replacement of ones who quit and the ones who were wrongly selected. Also, this can lead to loss of potential clients along with redundancy packages. Therefore, lastly through this study the negative effects that wrong selection decisions can have will be brought into notice. Research Objectives The research will be conducted in a multinational organisation whose â€Å"strategic goals are motivated by the desire to develop an efficient and integrated business on an international scale along and the groups philosophy being to build well-defined, value-added businesses focusing on serving the needs of select market niches where it can compete effectively (About Us: Investec)†. All these point towards having a workforce which can effectively contribute in helping the company achieve its targets. Therefore, the purpose of study is to explore the recruitment and selections methods adopted by the organisation to see the nature and the quality of people working in it and the efficiency of the current methods. The research basically addresses the following questions: Are the various recruitment and selection methods practiced by the organisations today as suggested by the literature really apt? Do the recruitment policies and procedures actually help in achieving the outcomes which are expected by the organisation? What are the factors (job and role specifications, recruitment media, selection techniques etc.) that affect the designing and implementation of the staffing process? Does cost, organisational resistance to change and national culture have an impact on the recruiting efforts? Can recommendations be suggested to improve the recruitment and selection process within an organisation? Literature Review 1. Introduction Thought it may seem that recruitment and selection are similar terms due to their functions being complementary, this review discusses them separately along with the function of job analysis in the overall recruitment and selection process. Firstly, an overview of the process will be given considering its various stages, and discussing each stage separately with the pros and cons. In the end specific issues related to national culture and costs affecting recruiting efforts will be discussed. 2. Overview of the Recruitment and Selection Process A recruitment and selection process is a method by which a company aims to satisfy its manpower needs at the minimum cost possible to ensure the effective continuing of the organisations operation. The main purpose of a recruitment and selection process is to study personality differences between individuals and the way it affects their ability to performance the subsequent job (Searle, 2003). Defining requirements, attraction and recruitment, shortlisting and assessment or selection are the four stages of a recruitment and selection process (Armstrong, 2006). Requirements mean preparation involving analysis of job to identify the needs along with what is involved already which results in job summary and person specifications as the outputs. Attraction is a medium to identify and evaluate sources of applicants keeping in mind that it is a two -way relationship with the firm deciding who to attract as well as the applicants decision making power whether to join the organisation (Taylor, 2005). Finally, the selection stage involves selecting the most suitable person(s) to fill the job from a pool of recruited good applicants (Cook, 2004). 2.1 Job Analysis Job Analysis or Role analysis is the most important stage in recruitment and selection as it provides the information related to the job (work-oriented) along with the skills and traits a person (worker-oriented) should have to perform the job (Searle, 2003). According to Pearn and Kandola (1993), Job analysis is simply defined as â€Å"a systematic procedure for obtaining detailed and objective information about a job, task or role.† to provide job descriptions and data for recruitment, training needs, performance evaluation and management. Job analysis can be done using a number of techniques ranging from focusing on the elements of work to being sensitive towards workers and their attributes. However, the main methods that are used are observation methods, interviews, and questionnaires and checklists. Because of drawbacks associated with each method, it is argued that techniques be combined for a clear and proper person specification description (Cooper, Robertson, Tinline, 2003). Also, there are issues of stability and accuracy concerned with job analysis, as a result of which there must be updating at all times. Also, job analysis is based on the assumption of one right way to perform the job instead of others, raising questions in regard of interrelationship between the worker and the organisation (Searle, 2003). Job Descriptions Job descriptions are the output of the job analysis concerned with a brief description about the job(s) to be taken up. Though they vary between organisations, generally the same categories are included: job title, location, responsible to whom and for what, main purpose of the job, principal job duties and any other duties. A point worth noting is that, despite, these used widely, they are criticised for being irrelevant to modern times as they are lack flexibility and are just based on rules. The criticism being that workers see their task as being defined making them abide by the rules instead of encouraging them to perform and add value beyond those. As a result, job descriptions are seen to be replaced by accountability profiles which focus on outputs rather than the components of the process. Also, another strategy involves the use of role definitions and key result area statements (KRAs) that refer to the measures for performance for the job (Armstrong and Marchington). Selection Criteria/Person Specifications This is the second documentation derived from job analysis. Person specifications are basically the human attributes required for filling up the role. Basically these specifications are based on certain heading following traditional seven point and five-point plans of Rodger (1952) and Fraser (1996) respectively. This forms the basis of selection criteria so as to reduce the number of applicants and in the end only have well-qualified candidates with the right requirements. However, in todays world competency frameworks relying on behaviour of applicants have replaced the earlier frameworks relying on personal judgement. This is because of the fact of reducing subjectivity in the recruitment and selection process and the tendency to judge personal qualities (Suff and Newell, 2006). Also, they can be related to performance outcome and stay clear of criteria that though may be easy to measure but may not relate to job effectiveness. 2.2 Recruitment The next stage after job analysis is the recruitment stage. Recruitment refers to tapping potential candidates from a pool of candidates based on the right skills and qualifications after filtering through the job analysis technique. It is important because it determines quality and quality of the applicants which in turn is necessary for the organisations overall financial performance and eventually its growth and success (Carlson, Connerley, Mecham, 2002). However, despite recruitment being the pre-requisite for selection to take place, it is still noteworthy that very little attention has been given to recruitment in theoretical underpinnings (Breaugh Starke, 2000). Also, recruiting efforts might be faced with some constraints ranging from issues relating to whether to recruit or not, sources from where to recruit and at what cost to organisations image, attractiveness of the job, internal policies and legal influence. Nevertheless, the different recruitment methods that can be adopted are advertising, use of employment agencies, internal recruitment, e-recruiting, on-campus recruiting and employee recommendations/referrals. The effectiveness of each of these methods can be tested in terms of quantitative and qualitative analysis. The former takes into account various costs in relation to the number of applicants generated, neglecting the newcomers ability to perform. Whereas the latter is concerned with judging the best candidate testing the absenteeism, turnover, retention and attitude at work. However, research has shown that informal methods (employee recommendations, internal search) are better and more effective that the formal methods of advertising and college placement. 2.3 Pre-selection/Shortlisting It is seen that not all the persons have the necessary skills, qualifications and experience to perform a job. Hence, based on the criteria of Curriculum Vitae and Application forms applicants are reduced. This process of choosing candidates on the basis of their curriculum vitas (CVs)/application forms after the recruitment stage is known as Shortlisting. The applicants fill up questionnaires about their personal details, education background, work experience, strengths and leisure activities. Judging upon these the HR specialists generate two categories of applicants: possible and rejected on the basis of having the required skills or not respectively, thereby, shortlisting the possible ones for the further stages of selection process serving as a path to the interview stage (Lewis, 1985). However, this criteria of shortlisting suffers from drawbacks as poor application forms with limit space under headings can put off potential candidates due to they not being able to provide adequate information (Marchington Wilkinson, 2008) ultimately leading to artificial responses. Also, often applicants provide false information as seen by Poole and Warner (1998), â€Å"It was reported that 30 percent of applications contained false information.† 2.4 Selection The final stage in the recruitment and selection process is that of selection. Selection is defined as a negative activity because of it choosing the best candidates and turning down others from a bunch to decide who is best-suited and fits the job most effectively. The classic trio comprising of application form, letter of reference and interview is the most prevalent selecting technique employed. This is due to it being straightforward and the least expensive of all the other methods. Also, other methods like assessment centres are not used due to them being the one with the highest validity which can deter the candidates from applying further. The range of selection methods that can be used for filling the job position are interviews, references, assessment centres, psychometric tests, work samples and biodata. However, no single selection method can predict with certainty that only a single individual will perform better in all situations. Hence, it is important to select the most appropriate technique. The Also, it is evident that most of the selection techniques have very low accuracy when it comes to effective selection decisions. Moreover, in order to know which tool to use, we need to know what is being measured and how well. The above factors, therefore, bring into account the need for assessing the value of each method in terms of practicability, sensitivity, reliability and validity (Marchington Wilkinson, 2008). 2.5 Specific issues: Costs and National Culture There are certain specific issues (costs and national culture) which play an important role in determining which selection methods to be employed by an organisation for selection of the new personnel. The focus is on selection due to the lack of literature on these issues concerning recruitment techniques. Costs The choice of a selection method to be used depends a lot on its cost. An organisations HR managers aim to use selection methods scoring high on validity along with being cost-effective. However, a selection method generating employees of utmost importance can be still be practised even if it is costly owing to the fact that successful employee selection leading to better productivity and performance is the overall goal of the organisation which in turn can outweigh the cost effects. National Culture National culture is basically defined as the values, customs, behaviour and attitudes a particular community, society or group tends to follow distinguishing them from other groups of different ethnicity. Each organisation has a corporate culture which arises on the basis of values and rituals of the country in which it is operating. The employees working in the company are also influenced by society and hence it can be seen that the elements of national culture are to an extent embedded in the organisation culture (Sparrow Hiltrop, 1994). The selection method a company uses to select new candidates also depends a lot on the social environment as some methods may be acceptable in one country and not in the other due to cultural differences. An outcome of a survey conducted by Ryan et al (1999) showed that uncertainty decision is the prime factor in influencing an organisations decisions in deciding which selection method to use. Therefore, it is seen that tests and interviews are the selecting methods used by countries which want less uncertainty, as these processes decrease uncertainty owing to the fixed questionnaire due to which the predictability of selecting the right person increases. 2.6 Conclusion This review showed a brief overview about the recruitment and selection process. However, the literature review on recruitment and selection methods were not discussed as they will be compared in my research with the methods being used in the organisation currently weighing each ones pros and cons along with the problems faced by the organisation and recommendations will be given. Methodology Designing the research I will rely on the phenomenological qualitative methods for the collection and analysis of data taking into account the inductive approach, for my study (Saunders, Thornhill, Lewis, 2006). This inductive approach will let me come out with the best possible answers for my research objectives due to it being able to explore better the behaviours and perceptions of people helping me get an overall insight into the research context in relation to an everyday life. Furthermore, as I am concerned only with a single organisation, I will be following the case-study approach. The reason behind my choosing a single firm is the fact that this will help me focus on my research leading to getting a deep understanding of the policy and procedures related to recruitment and selection with the firm. Data collection method Gathering of data will take place using semi-structured interviews along with open-ended questionnaires. The interviews would be held within the workplace with about 15 employees with most of them being the senior HR mangers as they are the ones responsible for the recruitment process taking the view concerned with the organisational decision-making in selection procedures. In contrast to this, if possible, I will also try and gain an insight into the candidates reactions to selection methods in order to take the applicants perspectives in the decision making process. This will be done through the use of questionnaires if not interviews with the applicants applying to the company. The reason behind using semi-structured interviews is that they have a personal contact and will help the interviewees to express their feelings, concerns and opinions with ease of freedom without the fear of being cut in between letting them further frame their responses. This will ensure a collection of detailed and ampler data set. Data Analysis All the interviews will be tape recorded so as to fill in any gaps which might have been left during the interview and transcribed for analysis. However to protect confidentiality, these will be recorded only after a written signatory permission from the respondents. I plan to adopt the template analysis approach for my analysis in which a â€Å"researcher generates a list of codes or templates in order to represent themes identified in the textual data (King, 2004)†. This will basically provide a key summary of my findings along with a flexibility level to change themes with the course of analysis. Also, this approach will be very useful in comparing differences in the perspectives of different groups of staff. Depending on the research objectives, an initial template will be created with the gathered data being coded into broad themes which will further be broken down into specific patterns as the analysis progresses. In the end, the final template will seek to explain all the research questions in addition to any new findings emerging out of the research. LIMITATIONS There are a number of limitations the research might be subjected to. Firstly, since the research will take place in a single organisation, issues regarding reliability and validity of the data for suitability within other firms may arise. This raises the question about the generalisation of the research findings beyond the parent organisation. However, this should make the research less sound owing to evolving businesses and to the nature of all human beings to perceive things differently. Secondly, time constraints might be another issue. The time available to do a thorough research isnt enough as it requires a lot of travel too. Moreover, since I can just conduct my research in the organisation for a maximum of a month, this may result in collection of irrelevant or inadequate data at times due to a hurried collection process. In addition to all these limitations other problems may arise as well. The employees of the organisation might be hesitant in giving interviews at workplace because of the fear of job-cuts due to recession. Hence, in this scenario I will try my best to conduct interviews be it in the form of telephonic interviews. Moreover, it might be possible not to carry out face to face interviews at times as some of the managers might not be available. Also, there is no guarantee to finish all the interviews within the specified time period. Another possibility might be that due to sensitivity issues regarding me being an outsider, the company may be reluctant in providing all the required information for my research. A final limitation might be about the arrangement for access into the organisation falling short. Though, I do not think that the multinational organisation would deny me access but, if such a thing happens, I have a back-up plan with an access to another organisation which will surely give me an access. This firm is an IT firm in India and has guaranteed to give me an access. Despite these problems likely to arise during my course of research, I am sure I will be able to handle and tackle them effectively. I am also confident to be able to achieve answers to my research objectives completing my research successfully. Bibliography About Us: Investec. (n.d.). Retrieved March 2010, from Investec: http://www.investec.com/en_gb/#home.html Ahmad, S., Schroeder, R. G. (2002). ‘The importance of recruitment and selection process in the sustainablity of total quality management. International Journal of Quality and Reliabilty Management, 19 (5), pp 540-550. Armstrong, M. (2006). A Handbook of Human Resource Management (10th ed.). London; Philadelphia: Kogan Page. Bach, S. (2005). Managing human resources: personnel management in transition (4th ed.). Oxford: Blackwell. Breaugh, J., Starke, M. (2000). ‘Research on employee recruitment: so many studies, so many remaining questions. Journal of Management, 26 (3), pp 405-434. Carlson, K. D., Connerley, M. L., Mecham, R. L. (2002). ‘Recruitment Evaluation: The case for assessing the quality of applicants attracted. Personnel Psychology, 55 (2), pp 461-490. Cook, M. (2004). Personnel Selection: Adding Value Through People (4th Edition ed.). Chicester: John Wiley Sons, Ltd. Cooper, D., Robertson, I. T., Tinline, G. (2003). Recruitment and Selection: A Framework for Success. London: Thomson. De Cenzo, D. A., Robbins, S. P. (1996). Human Resource Management (5th ed.). Chicester: Wiley. King, N. (2004). Using Templates in Thematic Analysis of Text. In C. M. Cassell, G. Symon, Essential guide to qualitative methods in organizational research. London: Sage Publications. Lewis, C. (1985). Employee Selection. London: Hutchinson. Marchington, M., Wilkinson, A. (2008). Human Resource Management at work: People Management and Development (4th ed.). London: CIPD. Pearn, M., Kandola, R. S. (1993). Job Analysis: A managers guide (2nd ed.). London: Institute of Personnel Management. Poole, M., Warner, M. (1998). The IEBM handbook of Human Resource Management. London: International Thomson Business. Ryan, A. M., McFarland, L., Baron, H., Page, R. (1999). ‘An international look at selection practices: Nation and Culture as explanations for variability in Practices. Personnel Pscychology, 52 (2), pp 359-391. Saunders, M., Thornhill, A., Lewis, P. (2006). Research Methods for Business Students (4th ed.). Harlow: Pearson. Searle, R. H. (2003). Selection and Recruitment: a Critical Text. UK: Palgrave Macmillan. Smith, M., Robertson, I. T. (1993). The Theory and Practice of Systematic Personnel Selection (2nd ed.). Basingstoke: Macmillan. Sparrow, P., Hiltrop, M. J. (1994). European Human Resource Management in Transition. New York: Prentice Hall. Taylor, S. (2005). People Resourcing. London: CIPD.

Why I Think Malaysia Will Be The Best Place To Live In The Next Essay

(First prize winner in the STAR 25th anniversary essay competition (Category C - adults) Should a fairy godmother suddenly appear before me with a crystal ball, a magic wand and a world atlas, and give me the liberty to select the country I’d like to live in 25 years from now, without a second’s hesitation, I would point to that small nondescript, elongated peninsula straddling the equator called Malaysia. The reason is very simple. I firmly feel that 25 years hence, Malaysia would be one of the nicest - if not THE nicest - places to call â€Å"home†. Let us take a little journey down the corridors of time and cast a glance at the destiny of some of the nations of the world over the past five decades. There is war and famine in some, greed and suffering in others. Quite clearly, Malaysia has reason to stand proud among the countries of the world. There is plentiful sunshine and rainfall, while the soil is rich and the harvests plentiful. Even Mother Nature has seen fit to bless Malaysia by exempting her from its tantrums - there are no tsunamis and earthquakes, no floods and droughts, no hurricanes and typhoons. Consequently, there is no need to live in fear of nature’s sudden and unabated fury; no need to be constantly on the lookout for unexpected destruction and devastation Freed from the encumbrances of having to battle with the forces of nature, Malaysians are empowered to pursue lifestyles of their own liking. The economy is booming, jobs are for the taking... this is the senario today and there seems little reason to expect this scenario to change adversely within the next 25 years. In fact, with proper management and leadership, the outlook for Malaysia in the next 25 years may even improve. Just for starters, imagine coming home after a day's work to a spotlessly spick and span house filled with the tantalising aroma of rich coffee and roast chicken, all waiting to welcome one home... Which Malaysian housewife-cum-career lady has not dreamed of this before? And yet, this dream may well become a reality just 25 years from now - all because of the winds of technological change, which are sweeping through the country right now. Pping! Just press that little button on your wristwatch 30 minutes before you head home and it'd activate the gamut of... ...e government’s attempts to develop a caring society are most commendable. Twenty-five years hence, these efforts would have begun to bear fruit. Palliative and geriatric care has already made itself felt while halfway houses for abandoned babies and abused children are increasing by the day. The groundwork for inculcating the caring attitude among Malaysians has already been laid with the move towards developing caring schools. Traditional values like thrift, hard work, respect for the aged and filial piety are being upheld as exemplary values which can hold the fibre of Malaysian society together. The voices of people like Marina Mahathir calling for tolerance and understanding for those most in need of moral support are like beacons in the dark, lighting the way towards the creation of the highest of all societies - that with a conscience. Ultimately, the country, which would be best to live in, would be that which enjoys technological growth from without and strong moral and spiritual development from within. And it is exactly this factor which makes me firmly believe that Malaysia will be the best place to live in 25 years from now.

FIN/370 Week 2 Team Essay

Starbucks’ Ethics and Compliance Paper Ethical behavior within a company is very important to its future and success. This type of behavior is not just important for the employees to follow, but for the entire company. In 2001, a failing company called Enron was involved in numerous unethical behaviors. For example, Enron’s Chief Financial Officer temporarily suspended their â€Å"code of ethics† not once, but twice in order to partake in personal financial gain. Enron’s actions eventually resulted in bankruptcy and assisted with the creation of a new set of guidelines for companies to follow. The so-called guidelines were called the Sarbanes-Oxley Act (Titman, S., Keown, A.J., & Martin, J.D. 2011). The SOX helped institute a set of rules for companies to follow, one being the creation and compliance of a code of ethics within every company. One company that seems to do a very good job with complying with the guidelines of SOX is Starbucks Corp. They have a strong program set in place to support their mission of making ethical decisions at work. The use of their program â€Å"Business Ethics and Compliance† might just be the very reason why their SEC filings show a relatively successful business. Financial Environment In regards to the finance environment, Starbucks plays an active role in ethics and compliance. Not only are their employees offered ways to voice concerns of unethical issues in the work place, but also Starbucks’ partners as well. Starbucks holds a meeting every year for their shareholders in order to review the yearly performance, vote on issues, and voice their concerns about the company. Starbucks’ ethics program is setup in a way that helps integrate and network ethical business practices on all levels of the company. For six years now, Starbucks has been named among the world’s most ethical companies and to this day is still going strong (Business Ethics and Compliance. 2012). Ethical Behavior Procedures * Starbucks vision and values business mission is to conduct themselves and strive to do what is ethically right for the business. The organization has a mission to protect its culture and help strive to keep a good reputation by providing resource programs to help its partners with making good ethical decisions. Starbucks organization has numerous procedures in place to ensure  ethical behavior in the work place. According to Starbucks (2011), â€Å"Our mission is to inspire and nurture the human spirit~one person, one cup and one neighborhood at a time.† (para. 1). * When looking at Starbucks’ global responsibility report for 2011 on its goals and the process for the organization, it shows to be on track in several places. The report shows that to ensure ethical behaviors the company has implemented front-of-store recycling and developed an inclusive recycling solution on all paper products carried in their stores. Starbucks organization is also ensuring that their coffee is ethically sourced under the C.A.F.E at 100% by 2015 and reducing consumption of energy and water by 25% by 2015. Starbucks also ensures ethical behavior by purchasing renewable energy. Starbuck’s became a member of the Global Social Compliance Program in 2011. The program is Starbuck’s business motivation strength to promote on environmental improvement and help its working conditions of its global supply chains. The organizations goals and processes show behaviors for the company to be on track to be both ethically and environmental friendly. United States Financial Markets When operating a small business, running a large corporation, or when it comes to personal finance it is imperative to understand financial markets and how they operate within the United States. The term financial market is explained as a mechanism that allows people to easily buy and sell financial claims (Titman, Keown, & Martin, 2011) and there are many different ways to conduct these transactions within these markets. There are three principal sets of stakeholders within financial markets with the first being borrowers. Borrowers are individuals or companies that need money to better position themselves for example an individual getting a student loan or a small business getting a small business loan. Savers are the second of these three key stakeholders. Just like borrowers, savers can be either an individual or a company with the main point being that they have money to invest. Individuals who save typically save for a specific reason such as purchasing a new vehicle, a down payment on a house, or even to prepare for a difficult economy. When firms run a surplus and have extra cash they also save money and invest in things such as stocks and even other companies in a conglomerate merger. Financial institutions are the third key player  regarding financial markets. Financial institutions help bring borrowers and savers together in order to facilitate desired transactions. The most common financial institutions are banks and credit unions because while they accept deposits and credit an account for that deposit, they also provide services such as loans and that money has to come from somewhere (investors). The financial marketplace consists of commercial banks, finance companies, insurance companies, investment banks, and investment companies (Titman, Keown, & Martin, 2011). Within these entities another step is taken and can be broken down to be classified by the maturities of the securities traded in them. There are two main classifications with the first being the money market. Money markets are designed for short term debt instruments with the threshold period being one year or less. The second of these two classifications is the capitol market which is the exact opposite of the money market. Capitol markets are designed for long term debt instruments with a threshold period extending beyond one year. Complying With SEC Regulations The U.S. Securities and Exchange Commission (SEC) is a federal agency and was formed in 1934 to enforce federal securities laws and to regulate the securities industry. In order to effectively oversee and regulate the securities industry the SEC is broken down into five main divisions which are corporation finance, trading and markets, investment management, enforcement, and lastly risk, strategy, and financial innovation. The Starbucks Corporation falls into several of these categories and must implement and enforce their own set of controls and procedures within the company in order to be in compliance with the SEC. Starbucks Corporation has put in place disclosure procedures and controls in an effort to ensure that all reports that are filed and submitted are within SEC regulations. These controls and procedures were designed to â€Å"ensure that material information required to be disclosed in our periodic reports filed or submitted under the Securities Exchange Act of 1934, as amended (the â€Å"Exchange Act†), is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms (Starbucks, 2012). As with anything new an evaluation must occur and during the fourth quarter of the 2012 fiscal year Starbucks did exactly that with the participation and  supervision of senior management and concluded that these controls were effective and worthy of SEC regulations. Another control implemented by Starbucks is financial reporting internal controls. Financial internal controls are a very crucial element within any company due to the severity of repercussions of inaccurate reporting. Starbucks put these controls in place to â€Å"provide reasonable assurance regarding the reliability of our financial reporting for external purposes in accordance with accounting principles generally accepted in the United States of America (Starbucks, 2012). Some of the duties that go along with these controls include maintaining records that in reasonable detail accurately and fairly reflect transactions, providing reasonable assurance that transactions are recorded as necessary for preparation of financial statements, providing reasonable assurance that receipts and expenditures are made in accordance with management authorization, and providing reasonable assurance that unauthorized acquisition, use or disposition of company assets that could have a material effect on financial statements would be prevented or detected on a timely basis. Overall the Starbucks Corporation has many different controls and procedures that allow the company to comply with SEC regulations and the two examples in this paper are just a snap shot of what Starbucks must do and maintain in order to stay clear of punishment handed down by the SEC. Starbucks financial performance The financial performance for Starbucks for the 2010, 2011 and 2012 fiscal years have increased. In the 2011 year, they had the reportable operating segments which are the United States, International and Global Consumer (United States Securities and Exchange Commission, Sept). In percentage, Starbucks total net revenue for the fiscal year were United States 69%, International 22%, Global Consumer 7% and other was 2%. The total net revenue for the 2011 year was at 11.7 billion while the 2012 year was increased by 14% to 13.3 billion. By The total revenues increased by 14% driven by global comparable store sales growth of 7% and a 50% increase in channel development revenue. The total equity for 2010 was 3,682.3 and 2011 was 4,387.3. At the end of the 2011 year, the return of equity was 29.26% and the end of the 2010 year was 28.87%. (United States Securities and Exchange Commission, Sept) Starbucks financial performance is increasing  from year to year. The following are ratios for 2010 and 2011 that shows Starbucks financial performance in 2010 and 2011. Current ratio: Current Assets/Current Liabilities 2011 3794.9million/2075.8 million = 1.83 times 2010 2756.4 million/1779.1 million = 1.55 times Debt ratio: Total Liabilities/Total Assets 2011 2973.1 million/7360.4 million = 40.4% 2010 2703.6 million/6385.9 million = 42.3% Return on equity: Net Income/Common Equity 2011 1245.7 million/4387.3 million = 29.26% 2010 945.6 million/3682.3 million = 28.87% Day’s receivable: Accounts Receivable/Annual Credit Sales/365 2011 386.5/ (11700.4/365) = 12.1 days 2010 302.7/ (10707.4/365) = 10.3 days Ratio Trends According to the trends of each financial ratio the Starbucks organization is in good health. Starting with the current ratio although it is a bit lower in 2011 the company is still doing well when it comes to current assets and liabilities. The debt ratio indicates how much assets were financed using current liabilities. (United States Securities and Exchange Commission, Sept) From 2010 to 2011 the debt ratio decreased by 1.9% which means the company financed fewer assets with the current plus long-term liabilities. The Return on Equity increased 2.7% from 2010 to 2011 which means the company received a higher return on their equity which is good for the company. The last ratio which is the Average Collection Period ratio measures how many days it takes a firm to collect its receivables. In 2011 the number of days increased slightly but with increased sales from 2010 to 2011 leads to future investments. (United States Securities and Exchange Commission, Sept) According to these tren ds, it appears that Starbucks is growing strong and the organizations financial health is good. References Business Ethics and Compliance. (2012). Retrieved from http://www.starbucks.com/about-us/company-information/business-ethics-and-compliance Starbucks. (2012). Goals & Progress: Ethical Sourcing. Retrieved

Reaction Paper Self Concept

Angela Foster Reaction Paper Communications 11/26/2010 â€Å"Self – concept is such a powerful force on the personality that it not only determines how you see youself in the present but also can influence you future behavior and that of others. Such occurences come about through a phenomenon called the self-fulfilling prophecy. A self-fulfilling prophecy occurs when a person’s expectations of an event, and his or her subsequent behavior based on those expectations, make the event more likely to occur than would otherwise be true† (57).Self-fulfilling prophecy is a very powerful source on your personality. For me this is basically just positive thinking, and if you think you will do well then you will. For example, when I first started school, I really didn’t know how to study, and for my first psychology test I went in totally unprepared. I lacked confidence because I was unprepared and nervous because I hadn’t studied much, and when I went in to t ake the test I just knew that I would not do very well. It was no surprise to me when I got my test back that I had failed it.I knew that I was going to have to get it together if I was going to pass my classes and the first step was to learn how to study. I found ways to study that worked for me, and when I went in for my next test I was more confident. I had an optimistic attitude, and confidence that I would do well on the test, so it was no surprise when I got my test back I had made an A. There are two types of self-fulfilling prophecy, self- imposed prophecies and when someone’s expectations govern another’s actions. â€Å"Self-imposed prophecies occur when you own expectations influence your behavior† (57).If you think you can, and set your mind to doing something the results can be great. It isn’t just the observer’s beliefs that causes one to do well, â€Å"the observer must communicate that belief† (58). For example if a teacher ha s hopes for a child but does not encourage them or push them to the next level, then the child may not use their full potential. â€Å"The effects of teacher attitudes, beliefs, and values, their expectations have been tested repeatedly† (Wilkins). Another example of other’s expectations influencing one’s behavior is that of a parent towards a child.If a parent has faith in a child they must let them know or a child may not have the confidence they to need to blossom. Positive results do not just happen because of a positive attitude though. Just like the saying â€Å"Faith without Works† is very true. People cannot just lie around and expect good things to happen. You must take action and put footwork behind what you are working on and plan to accomplish. So with the combination of some knowledge and a positive attitude, you can accomplish anything you set your mind to.

The Crucible2 essays

The Crucible2 essays In The Crucible, a play about the Salem witch trials of 1692, by Arthur Miller, the character of Reverend Parris displays hypocrisy. Priest are generally considered good, honest people, but Parris lies to the community, he puts his ministry in front of his daughters life, and tries to help himself before helping the community. Even when Parriss daughter is sick and he is unsure what is wrong with her, he puts himself and his job before her. When he is trying to get Abigail to tell the truth he says I pray you feel the weight of truth upon you, for now my ministrys at stake, my ministry and perhaps your cousins life. (Act I.) In that quote, he throws in the part about Betty at the end like it has no importance compared to the fact that his ministrys at stake. Earlier he says to Abigail If you trafficked with spirits in the forest I must know it now, for surely my enemies will, and they will ruin me with it. Then he continues Abigail, do you understand that I have many enemies?(Act I.) Throughout Act One, Parris makes it obvious that the faction that is sworn to drive me from my pulpit is the only thing he can think of and is more important then anything else at that time. This is the opposite of what most people would expect from someone titled Reverend. Besides putting himself before his daughter, Parris also puts himself before the community. In Act One, he complains about his salary and the house. Proctor says that he is the first minister to demand the deed to this house. When Parris doesnt get his way he tries to make them feel guilty by saying things like the church will burn in Hell for not being obedient. In Act Four, after he had wanted the hangings, he makes up excuses not to hang them. He says if Mr. Hale gets any of them to confess then it surely damns...

Judith Not Wright essays

Judith Not Wright essays Judith Wright is a respected Australian poet is also known as a conservationist and protester. Her poetry has captured the most amazing imagery of Australian Culture. For Australian students to understand their own culture and history it is necessary to study the best poetry and Judith Wrights poetry is definitely some of the best. Her achievement in translating the Australian experience into poetry led in her best work to a rich inheritance of lyricism and directness. Through stories told by older workers on the property she learnt of the pioneers' part in both the destruction of the land and the dispossession and murder of the aboriginal people. The sense of fear she felt at invasion enabled her to understand, at some level, how the Aborigines would have felt. Judith Wright wrote about many things in her poems, which are necessary for Australian students to be taught which apply to learning about Australia. Australian culture is something Judith wrote about very strongly and this shows through her poem Bora Ring. Bora Ring is about the Aborigine culture and how it has been lost by the invasion of Europeans. The hunter is gone: the spear is splintered underground; the painted bodies a dream the world breathed sleeping and forgot. This is an incredible paragraph extracted from Bora Ring. This poem depicts perfectly of the European invasion of Australia. It shows how the traditions and stories are gone, how the hunting and rituals are gone and lost in an alien tale, the Europeans being the aliens. This poem also describes that it seemed as if the tradition of Aborigines was breathed sleeping and forgot. These are powerful words Judith Wright used to show how they Aborigines were quickly invaded and forgotten. This poem is an excellent example of why Australian students should study her poetry. Australian relationships are depicted per ...