Employee Remuneration - 13571 Words

Chapter I INTRODUCTION 1. MEANING OF WAGE/ COMPENSATION PAYMENT: Wage is a monetary payment made by the employer to his employee for the work done or services rendered. It is a monetary compensation for the services rendered [1]. A worker may be paid Rs. 100 per day or Rs. 4500 per month. This is wage payment. The worker gives his services and takes payment called wage payment. Industrial workers are paid remuneration for their services in terms of money called wage payment. Wages are usually paid in cash at the end of one day, one month or one week. Money wage is the monetary compensation or price paid by the employer to his employee for the services rendered. Such compensation is also called wage or salary or reward†¦show more content†¦This is due to poverty, rising prices, mass unemployment and rising population. Wage payment indeed a vexatious problem and needs to be tackled from economic, social and humanistic angles. 1.2 CONCEPT OF FAIR WAGES: Fair wages is the wage which is above the minimum wage but below the living wage. Obviously the lower limit of the fair wage is the minimum wage and the upper limit is set by the ability of the industry to pay. Between these two limits, fair wages should depend on the factors like – 1. Prevailing rates of wages in the same occupation 2. Prevailing rates of wages in the same region or neighbouring areas 3. Employers ability to pay 4. Level of national income and its distribution 5. Productivity of labour 6. Status enjoyed by the industry in the economy Hence it can be said that fair wages are determined on industry cum region basis. When fair wages are paid employees enjoy higher standard of living. It is accepted fact that wages must be fair and reasonable. Wages is fair when the employee is able to meet its essential needs and enjoy reasonable standard of living. †Equal pay for equal work† serves as base of fair wage [4]. 1.3 FACTORS INFLUENCING WAGE AND SALARY STRUCTURE [5] †¢ The organization’s ability to pay: Wage increases should be given by those organizations which can afford them. Companies that have good sales and therefore high profits tend to pay higher wages than those which areShow MoreRelated8.7.1. Employer And Employee Benefits . †¢Remuneration Package1732 Words   |  7 Pages8.7.1. EMPLOYER AND EMPLOYEE BENEFITS †¢ Remuneration package will be in line with current pay scales. †¢ Vacations and holidays will be according to the Employees holiday act of 1954 where 1  ½ days a week, 7 medical and 21 annual days and all public and mercantile holidays are an entitlement. †¢ An insurance scheme will be enforced for employees on being confirmed in the position after a period of 6 months. †¢ Additional benefits will include bereavement leave, religious and floating holidays andRead MoreCompensation System Of Henderson Printing Company1132 Words   |  5 Pagestheir efforts. Compensation is a cost to the enterprise and, therefore, a proper remuneration model must demonstrate its ability to produce returns. Also, since compensation is what the employees get in exchange for their services, the type used must be one that will motivate the employees (Belcourt McBey, 2015). Henderson printing company is a mid-level company. Therefore, it requires a very critical remuneration system that will help it to survive. This memo explores the compensation models thatRead MoreCompensation Management2189 Words   |  9 Pagesobjectives of the study are as follows: ( To know the HRM policies and compensation system of an organization. ( To learn how to calculate the salary of employees. ( The main objectives are, as we are HRM students we need to deal with the employee compensation, rewards, promotion, increment etc, so this study will help us do this properly. 1.2 Scope of the Study This study covers the basic system of compensation management. We have put our all efforts to prepare this paper in such wayRead MoreChallenges in International Benefits and Compensation Systems of Multinational Corporation6282 Words   |  26 Pageshost country nationals (HCNs), parent country nationals (PCNs) and third country nationals (TCNs). Compensation is one of the most complex areas of international human resource management. Pay systems must conform to local laws and customs for employee compensation while also fitting into global MNC policies. It is also important for MNCs to consider carefully the motivational use of incentives and rewards among the employees drawn from three national or country categories. International businessRead MoreWhat Are the Advantages and Disadvantages of High Levels of Executive Compensation?1179 Words   |  5 Pagesexamine the negative effect in relation to justice issue and limited incentives for staff and cost problem and reputation risk for companies. The most obvious advantage is the affirmation and incentives for executives. On the one hand, the high remuneration can be regarded as the affirmation for their hard work, loyalty and achievement to the corporations. As Maslow’s five needs states, the esteem and self-actualization are the relatively high needs of human, which are usually obtained by professionalRead MoreStill Your Turn Mapping Compensation Strategy1137 Words   |  5 Pagesvalues the variances in the type of work content, individual skills, and contributions to the team† (Milkovich, 2014, p. 54). There is a differential in pay on the level of the salesperson. If the seller takes on a management position, the level of remuneration increases giving the top level rep, which is called â€Å"Team Leader† to receive substantial amounts of commission from sales. In regards to competitiveness, the company’s compensation is contingent on the employee’s level of commitment. It was createdRead MoreThe Current Remuneration And Performance Management Of The Customer Service / Sales Team At Majestic Health And Fitness Ltd1617 Words   |  7 PagesIntroduction This report provides an analysis of the current remuneration and performance management of the customer service/sales team at Majestic Health and Fitness Ltd. By breaking down the current system, this report will look at both the strengths and weaknesses, compare to trade norms and competitors, and finally provide recommendations based off findings and academic literature. Majestic Ltd is a medium sized enterprise consisting of a total of 105 employees spread between five locationsRead MoreBenefits And Benefits Of A Company1027 Words   |  5 Pagesconditions to encourage employees to remain with the business.† In order to do so the business compensates their employees, compensation is â€Å" the payment or benefits (or both) an employee receives in exchange for their labour.† Maintenance is the third stage of the human resource cycle, and the ultimate decider as to whether an employee will remain with the company or involuntarily separate. This section focuses on how N estle Ltd encourages and rewards their employees to remain with the company. AccordingRead MorePayment Systems of Tnb723 Words   |  3 PagesWAGE AND PAYMENT SYSTEMS In return of their work, the employees of TNB are paid agreed amounts of remuneration. Typically, employers also provide some payments to motivate workers to maximize their output. Thus, a remuneration or compensation package consists of several elements, usually a combination of basic pay, incentives and benefits. REMUNERATION PACKAGE There are three (3) remuneration package consist of wages, benefits, incentives. I. Wages -Attractive salary scheme -TNB givesRead MoreThe Labor Code Of The Philippines Essay1652 Words   |  7 PagesPAS 19 defines â€Å"employee benefits as all types of consideration given by an entity in exchange for service rendered by employees or for the termination of employment† (PFRS, 2013, p. 307). Employee benefits are considerations given by the entity to their employees other than their regular wages. The Labor Code of the Philippines defines employee as â€Å"any person compulsory covered by the GSIS under Commonwealth Act hundred eighty-six, as amended, including the members of the Armed forces of the Philippines

Essay about Rome - 1817 Words

nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;ROME nbsp;nbsp;nbsp;nbsp;nbsp;Imagine an empire so vast and yet powerful, but then it falls like rain. Also imagine the same empire that controls parts of Africa and Eurasia. One may envision such an empire that is war-like. This empire is known as the Roman Empire. Aside all of the conquests and battles, their art and social life are of extreme significance. Throughout past decades, archeologists have stumbled across many remarkable findings that gives historians a much needed in-depth look into ancient societies. Spas, glass technology, tax assessors, oils, and other â€Å"everyday† items are discovered frequently as†¦show more content†¦nbsp;nbsp;nbsp;nbsp;nbsp;There have been ruins of an ancient Roman city located in Egypt. â€Å"The ruins of a city belonging to the Roman Empire built more than approximately seventeen centuries ago have been found near Dakhla oasis in Egypt’s Western Desert. After four years of excavations, an Egyptian-Canadian team recently un covered ruins of the city, which is made of terra cotta. The find includes a temple with the name Nero carved in one wall. Dakhla, 340 miles south of Cairo, was a major Egyptian agricultural area during the Roman occupation of Egypt from 30 BCE to 395 CE.† (Guardian, section 1, page 24, col.7 3/6/98) nbsp;nbsp;nbsp;nbsp;nbsp;Speaking of Nero, a fresco find opens a window to the past, which is an amazing discovery. During Nero’s reign, two-thirds of Rome burned. There are no pictorial accounts of the Neronian period, except the fresco. Fresco is the art of painting on fresh plaster with pigments dissolved in water. The fresco gives one a bird’s eye view of a contemporary city, possibly Rome, and provides a unique insight into urban life at the time of the Emperor Nero. Archaeologists stumbled on the find at the end of a tunnel running under the Colle Oppio, a public park opposite the Colosseum, which is frequented by drug addicts and prostitutes. Ms. ElisabetaShow MoreRelatedRome And Rome : Colosseum, Circus Maximus, And Hippodromes1610 Words   |  7 PagesGreece and Rome: Colosseum, Circus Maximus, and Hippodromes. The Colosseum is one of the greatest buildings ever built. It was built around A.D. 70-72 by Emperor Vespasian (Colosseum). In A.D. 80 the Colosseum was opened up for games (Colosseum). Some of the games being played were gladiatorial combats and wild animal fights (Colosseum). After going strong for four centuries about 2/3 of the Colosseum fell down (Colosseum). Yet, not much remains the Amphitheater still is a symbol for Rome and a veryRead MoreAncient Greece And Rome Vs. Rome1179 Words   |  5 PagesClassical Greece and Rome were ancient civilizations that existed 2500 years ago, and are regarded by numerous scholars as the foundation of humanities in various fields. In popular culture, Ancient Greece and Rome are portrayed substantially in books and movies; however, not many people are aware of how they also shape our thoughts, ideals, and motivations. Through an analysis of classical elements often portrayed in popular media, this essay attempts to illustrate how the represe ntation of ancientRead MoreRome During The Revolution Of Rome Essay1193 Words   |  5 PagesWhen many people think of Rome, they think of an oligarchy but still consider Rome somehow democratic. Rome, however was a mix of many different systems, all culminating with the aristocratic versus the Plebeians. Rome was built on a monarchy before becoming a ’democracy,’ and then ending with an imperial rule. As Rome struggled with recognizing the different social classes within its social system and society, the system of government that it was based on slowly morphed into something that was notRead More The City of Rome Essay1164 Words   |  5 PagesThe City of Rome The city of Rome was quite spacious. It had a â€Å"population of about 1,000,000† (Arnold, Pg. 266). Within the city of Rome, there was a variety of ethnic groups. It was a multi-ethnic cosmopolitan city: Italians from various districts as well as people from Greece, Asia Minor, Syria, Judea, Persia, Egypt, North Africa, Spain, Gaul, Germany, Brittania, and elsewhere† (Arnold, Pg. 266). Rome also had five or six different religions. â€Å"The entire pantheon of Roman gods, numerous GreekRead MoreThe Roman And Roman Rome1666 Words   |  7 PagesThe Roman Catacombs Rome today is a bustling and diverse city teeming with history and culture that dates back to thousands of years. This rich cultural intertwine is evident with its seeming myriad of historical monuments, relics, and construction that allude to various ancient cultures. Rome’s ground level environment is truly an architectural, cultural, and spiritual hearth for things of the past; however, this area is truly only â€Å"the tip of the iceberg†. Underneath Rome’s floors lies a seeminglyRead MoreColosseum of Rome Essay2347 Words   |  10 PagesIn this essay, I will be writing about the great Colosseum of Rome and what was held inside to give the citizens of Rome some entertainment. The Romans had many choices of what to do during their spare time, such as ball games, board games, and watching gladiatorial fights in the Colosseum; this was the most popular type of entertainment. To many people today, Roman entertainment was classed as cruel. However, not all for ms of entertainment involved such violence as within the Colosseum. ThereRead MoreThe Civilization Of Ancient Rome1366 Words   |  6 Pages The Civilization of Ancient Rome and The Time of the Kings, From Republic to Empire: Romulus and Remus, the Etruscans, the Greeks and early influences HST 101 Spring 2015 Lance Raebel Pima Community College West Campus Tucson, Arizona Table of Contents Introduction I. Romulus And Remus founding story a. Twin brothers i. Considered to be half gods ii. Rasied by a she wolf b. Father the god of war i. Rapes Rhea Silvia their mother c. Find Rome i. Romulus then kills Remus for leadership IIRead MoreRome s Good Side And Rome1558 Words   |  7 PagesPofue Yang Mrs. Killian English 8 Rome’s Good Side and Rome’s Bad Side When people hear or see the word â€Å"Rome†, many of them think of the ancient Roman culture. The Roman culture consists of the Roman Gods, myths, their way of life, and arts. The surveyors wrote things such as â€Å"Romans Gods†, â€Å"Jesus†, â€Å"Architecture†, and â€Å"Ancient†. But the most surprising thing was that barely any of the surveyors mentioned Rome’s dark side; conquership, enslavement of people, forcing other people to fight for entertainmentRead MoreRome: Engineering an Empire812 Words   |  4 PagesStudent Name Professor Name Course Title Date Rome: Engineering an Empire It is said that Rome was not built in a day. True. It took ambition, lust, murder and the unrivalled power of technology to make the Roman Empire span across three continents and many centuries. While the contributions of ambition, conquest and other political and militaristic factors remain important for the Roman Republic to transform into an Empire, none of this could have been possible without the immense contributionRead MoreThe Roman Colosseum Of Rome1153 Words   |  5 Pagesevery year. This massive amphitheater is located in the center of Rome, Italy. During ancient roman times these massive amphitheaters were commonly placed around cities. â€Å"Eventually there were well over 250 amphitheaters in the Roman empire† (Hopkins). However, no other amphitheater competes in size. What sparked the want to build such a massive amphitheater? Why is this so important? Years prior to the construction of the Colosseum, Rome was dealing with a massive civil war which destroyed the city

Decision Tree Case Study - 1623 Words

Decision tree analysis Decision tree analysis known as an analytical tool applied to decision-making under condition of uncertainty, also clarifying where there are many possible outcomes for various alternatives and some outcomes are dependent on previous outcomes. However, decision tree will present as a diagram by showing the relationship among possible courses of action, possible events and the potential outcomes for each course of action in the decision (Drury, 2012). So decision tree analysis is useful for merchant navy company to understand in what direction their chance events are and what their values in terms of profits and losses are for each of the two tooling alternatives, also visualize the outcomes of different prospects†¦show more content†¦The marketing management thinks that market shipping new service nationally successful that the expected profits (excluding the cost of the market study) will be  ¥1,600,000 however if the market shipping new service nationally failure then it expected loss of  ¥700,000(excluding the cost of the market study). However absence of market study, there are equal chances of national success and national failure after if China Shipping (Group) Company decide to market nationally. Therefore now the marketing management has to determine the best strategy that China Shipping (Group) Company should adopt. Excel According to the decision tree above, the optimal decision for China Shipping (Group) Company is to carry out test market and then market nationally if national success then the company will have return in expected profit of  ¥654,000 compared to do not conduct test market only have expected profit of  ¥450,000. Sensitivity analysis Assuming the probability of national success after the market study will decrease by 15% and the probability of national success without market study will increase by 10%. If a local success is observed, the new probability will decrease from 80% to 65% that new shipping service will be national success. If a local failure is observed, the new probability will decrease from 30% to 15% that new shipping service will be will be national success. However absence of market study and immediately marketShow MoreRelatedMOTIVATION Organizations spend large capital to establish and maintain customer relationship. The1400 Words   |  6 Pagesmanifolds more costly than retaining an old one. It is important to target those customers that could return maximum benefit. Thus this study could help in targeting those very customers. Specific targeting and devising the needed the strategy will help the organization to gain maximum advantage from the customer retention policies. OBJECTIVE OF STUDY The objective of the study is to devise method in which the strategies made by organizations for customer retention could be narrow down to most effectiveRead MorePurinex1083 Words   |  5 PagesExecutive Summary 1. Statement of Problem This study is commissioned to analyze the Purinex, Inc. financing plan, which is related to determine the best financing alternative for the company in securing additional cash needed to establish a partnership with a large-capitalization pharmaceutical firm. Gilad Harpaz, Purinex’s chief financial officer believes a partnership deal could bring the company to execute its mission, developing drugs for the treatment of sepsis and diabetes. However,Read MoreThe Tahan River Reservoir System1418 Words   |  6 Pages73) By applying the methodology into the study of Tahan River Reservoir System, authors proved such methodology is promising. In the medical decision making area, Mazur discussed the visual benefits of a decision tree for making decisions between surgery and radiation therapy for diseases at different stages, as well as its limitations since it is usually difficult to take every necessary influential factors into consideration for a simple decision tree structure, thus restricting alternative strategiesRead MoreExpert System Essay1340 Words   |  6 Pagesby expert systems and clinical decision support systems in order to improve the systems work such as: Causal Probabilistic Network, Neural Network, Bayesian Network, Rule-Based System, Logical Condition, case-based reasoning, CART Algorithm, ID3 algorithm, and Genetic Algorithms [4]. 2.2 ID3 Algorithm: ID3 algorithm is used as the data mining technique in this project. ID3 algorithm (stands for Iterative Dichotomiser 3) is one of the most commonly used Decision Tree learning algorithms and it appliesRead MoreKoloon Case Study1433 Words   |  6 PagesAbstract This case study examines the decision making process of the Kowloon Development Company to the PrecisionTree decision tree software from Palisade. The Kowloon Development Company was faced with a major decision about their future investments. The General Manager of the Kowloon Development Company is usually involved in billion dollar investments, accurate decisions are needed. The company has to make a decision over the decision to purchase a new development project the total site areaRead MoreImproving Decision Tree Performance Methods1479 Words   |  6 Pages There are several improvement methods are available to improve decision tree performance in terms of accuracy, and modelling time. Since experimenting with every available method is impossible, some of the methods are selected that are proven to increase decision tree performances. Selected improvement methods and their experimental setups are presented in this chapter. 4.1 Correlation-Based Feature Selection Feature selection is a method used for reducing number of dimensions of a datasetRead MoreBanyan Tree’S Success Has Been A Great Case For Entrepreneurs1563 Words   |  7 PagesBanyan Tree’s success has been a great case for entrepreneurs in the hospitality industry to study. With the genius ideas that had been put successfully into practices by Banyan Tree CEO Ho Kwon Ping, the company had made a dramatically transformation that had become a phenomenon at that time. This essay will briefly investigate deeply into business strategy applied by the Banyan Tree that had affected the core focus of the company, as well as discussing if the same strategies used in the hyper-dynamicRead MoreThe Health Of The Healthcare Industry1572 Words   |  7 Pageschosen a topic that surrounds the healthcare industry. When a patient’s health is deteriorating, the first thought that comes to mind of the patient’s families and friends is to blame the healthcare professional s. The healthcare professionals in this case can be the patient’s physicians, surgeons, nurses, pharmacist and even the medical equipment technologist. Therefore, I have chosen my research topic surrounding the possibilities of positive recovery rate for non-compliant patients. The definitionRead MoreSupreme Court Design Analysis1237 Words   |  5 PagesPreparation and Feature Engineering We build our dataset from the Supreme Court Database (SCDB) [8]. The database contains high-quality and coded historical data for every Supreme Court case from 1791. For this project, we only select the modern data from 1946. In the database, there are sixty variables to describe each case, and they can be categorized into identification variables, background variables, chronological variables, substantive variables, outcome variables and voting opinion variables.Read MoreAnalyzing Various Factors That Drive Learning Analytics Essay1489 Words   |  6 Pagesfor distributed computation, distributed data storage and Data Broker service. Data Analytical modules aid to collect data from cloud, to adapt, refine and optimize data analytics flow and to mine usage patterns. The authors also describe the use-cases for the proposed framework. Course Correction: Using Analytics to Predict Course Success [5] Rebecca Barber et. al. [5] The paper [5] discusses a predictive analytical model created for the University of Phoenix, to identify students who are at the

The Positive Effects of the Great Plague Essay - 616 Words

The Great Plague was a pandemic that killed many people, and for the people from the olden times the plague equaled painful death; it was torture. As a result, many people categorize ‘the Great Plague’ as a catastrophe that had caused huge damage in Europe, but without this epidemic, we many not have had substantial changes that lead us to the modern day we have now. The Great Plague was an outbreak that killed a third of population in Europe. It was a scourge that originated in the arid plains of central Asia and traveled along the Silk Road. From then on, fleas living on rats, which were typically found on merchant ships, carried it. There were three types of the plague: bubonic plague, this was an infection of the lymph glands and†¦show more content†¦Travelers like them usually spent money buying new lands and using money for voyages. It also became difficult for people to procure goods as many were reluctant to leave the house, in fear that they too would g et the plague. As a result of this, trade declined, and the price of both goods produced locally and goods imported from afar skyrocketed. The Black Death was also a way for people to start a new life, and it was also a way for Europe to start from square one. There was a huge effect on education. Many people realised that as much as they believed in God and their religion, the church was not God and that they were just taking the power. Because of this, people tried to research more about the reasons why the plague spread. Therefore, medicals schools were opened and there were many more doctors than before. Technology and machines improved and developed because of the lack of workers on the fields. The idea of feudalism was also faltering as many of the lords had died from the plague. Peasants were more free and they were also let loose from the bounds tying them to the lands. Instead, people started going towards of humanism and ideas of working for the benefits of oneself. There is evidence that can back this up. In Russia, the plague did not have as much as an effect and the feudal system continued until the 19th century. The Great Plague was an enormous pandemic that left a hugeShow MoreRelatedPositive and Negative Results of The Black Plague847 Words   |  4 PagesThe Black Plague, perhaps one of the worst epidemics in history, swept its evil across Europe in the middle of the 14th century, killing an estimated 20 million people. This major population shift, along with other disasters occurring at the time, such as famine and an already existing economic recession, plunged Europe into a dark period of complete turmoil. Anarchy, psychological breakdowns, and the dissipation of church power were some of the results. As time passed, however, society managed toRead MoreWhat Effects Did The Black Death Changed Europe1408 Words   |  6 Pages The Death Plague That changed Europe In 1348, a plague arrived that caused severe damage in many countries in Europe. The plague made a significant impact on the country, and it ending up killing fifty million people, which was sixty percent of Europe’s entire population (Slack 432). All of the deaths from the Black plaque it caused many different social and economic effects in Europe. Along with devastating effect, there were positive, social and economic changes resulting from the Black deathRead MoreEssay on Economic Effects of the Black Plague in England1748 Words   |  7 Pagesthe disease to the rest of England. The plague did not discriminate, as it knocked down anyone in its path, but it affected the oldest, the youngest and the poorest most dramatically as it wiped out an estimated thirty to forty percent of England. Many will argue that due to a lack of key pieces of information and being surrounded by other factors such as the Great Famine and the Hundred Years War, it is hard to be certain on the l evel of impact the plague had as a standalone catastrophe, but thereRead MoreThe Black Death Of Europe1265 Words   |  6 Pagesuncontrollably started to travel its way through Europe and had a great impact on Europe. It’s undeniable that the Black Death created many upheavals in Europe, but it also led to a few positive effects as well. The outbreak of the epidemic led to many, social, religious, economic, and political changes in Europe. By the time the Black Death hit Europe, Europe had grown so much in numbers that it was overpopulated . The most obvious effect the plague had on Europe was a social issue. Due to the Black DeathRead MoreBlack Plague And The Plague1367 Words   |  6 PagesBy the 14th century, the plague had wiped out sixty percent of Europe’s population. Because of its devastating fatality rate, The Black Plague was one of the most devastating pandemics in history. The disease was made famous by the outbreak in Europe, however it did not originate there. The origination of the Plague, History of the Plague, Strains and Symptoms, as well as effects of the Plague are essential ideas, important to understand the Black Plague. The Black Plague is said to have originatedRead MoreEssay on Black Death with Wings of Light1479 Words   |  6 Pagesdeathliest plagues that ever struck mankind, the Black Death? This song describes the main symptom of the Black Death, which is the formation of infected black rings on skin. The Black Death is a disease that first arrived in Europe in 1347 through a ship with rats and fleas contaminated with Yersinia pestis bacteria. This bacteria has the capability of taking one’s life within 48 hours (MedicineNet). In 1340s, the plague victimized countless numbers of people. Fortunately, the plague temporarilyRead MoreThe Black Death And Its Effects On Society843 Words   |  4 Pagesbubonic plague, it struck Europe in 1347 and killed close to 50 million people. This constituted as half of their population, killing entire families and destroying tribes and villages in less than a mere century. To this day there are numerous theories of its origin, symptoms, its quick spre ading, artistry and other documents that all reflect on the impact this plague had on society. The terror of the Black Death affected various aspects of European culture, particularly art. At a time of great sufferingRead MoreImportant Events in the European History That Changed the European Society814 Words   |  4 Pagesdramatically as a result of a series of stresses in the late 13th to the mid 15th centuries and how such events as Black Plague, the One Hundred Years War and the collapse of Papal Power influenced the Medieval European society. The transformation of the Medieval society was long and painful process, which lasted approximately 150 years. The development in the years 1000-1300 brought the positive changes in agriculture, finance and trade. Growing food supply, the creation of guilds, the development of urbanRead MoreThe Bubonic Plague Essay1463 Words   |  6 PagesThe Bubonic Plague Introduction Plague, was a term that was applied in the Middle Ages to all fatal epidemic diseases, but now it is only applied to an acute, infectious, contagious disease of rodents and humans, caused by a short, thin, gram-negative bacillus. In humans, plague occurs in three forms: bubonic plague, pneumonic plague, and septicemic plague. The best known form is the bubonic plague and it is named after buboes, or enlarged, inflamed lymph nodes, which are characteristicsRead MoreGenghis Khan And The Mongol Empire1588 Words   |  7 Pages The bubonic plague epidemic of the 1300s led to the destruction of the Mongol Empire by separating many areas in Eurasia from each other and wiping out millions of people. As a result, trade and communication vanished from the Mongol Empire, and it only worsened the political turmoil that was already present in the empire. Even after the destruction of the empire Genghis Khan had formed, many other empires were influenced by the Mongols and tried to incorporate many aspects of the Mongol Empire

Business Ethics can Prevent Ethical Scandals

Question: As a management accountant, in what ways do you think business ethics or regulation couldprevent potential ethical scandals such as that which happened with Volkswagen? Answer: As a management accountant it is very important to understand that the business ethics or regulations while performing any activity in an organization can prevent happening of any kind of ethical scandals and thus preventing an entity to fall into the danger zone. It is an internal process which is responsible to manage the entity. Allocation of various business cost to the cost of production of goods and services, identification of the budgets and pre-empting the sales or the productivity are the key reasons why managerial accounting has gained importance. Of all ethics is also a vital part of the managerial accounting and to understand the same a separate code of conduct has been prescribed specially for the accountants (Vitez, 2015). There are certain set managerial accounting guidelines spelt out by the Institute of Management Accountants which basically lays down set ethical guidelines for the licensed as well as non-licensed accountants. The accountants are bound to follow these while preparation of accounts. Once extended to the business world, there are various complex factors which define its role. It does not digress from Laws and Regulations and operates in a transparent environment with focus on the following: Working in the best interest of all Stakeholders i.e. both internal like employees and external including clients, vendors, investors, as well as the society as a whole Maintenance of utmost integrity with respect to the aforesaid Stakeholders Accountability and ethical behaviour of employees, Management and the overall Institution Conveying all communications in the same manner in which it is meant to be interpreted (Chandler, 2005). The increasing number of corporate scandals has given more importance to the business ethics amongst the accountants too. The managerial accountants have been found to be the main culprit for such corporate scandals leading to a loss to the community and the society as a whole. Many entities over the years have failed to recognise the above and have indulged in unethical actions. Glaring example of this is Enron which commenced in 1985 as an energy company and made rapid progress post the deregulations of the energy markets in 1996. Expansion in additional domains meant increase in borrowings which were unethically recorded in paper companies to reflect extremely profitable financials of the Company, thereby enhancing the value of its stock. However, this could not continue for long and by 2001, Enron recorded loss of $638 Million and in subsequent years, had to file for bankruptcy. Similar instances have been recorded over the years in major names like Mitsubishi Motors, Merrill Lyn ch, Sears, Citigroup etc. with even senior executives being jailed. This collapse led to further improvements of the ethical standards laid out, financial reporting format, stricter audit standards and improvising and implementing a stricter government regime. These are the responsibility of the accountants who actually prepare the financial statements and a failure on their part is what led to such scandals (Senaratne,2015). A more recent case has its epicentre in Volkswagen a powerhouse in the Automobile Industry with around 70% of US passenger car diesel segment. The company had diversified its present product range by installing emission software on nearly 10.5 million cars across the globe, including half a million in the US. These were meant to identify steering, throttle, and other inputs used in the Emissions Drive Cycle Set by the Environmental Protection Agency and switch to a distinct operating mode with a view to achieve higher mileage and more power. However, this also induced 40 times higher than permissible limits of nitrogen-oxide emissions, a pollutant linked to lung cancer. Thus in order to increase sales it forgot about its corporate social responsibility towards the society and contributed to the increasing pollution. (Adams, 2015). For the aforesaid case under scrutiny and as is common to most of the earlier citations as well, the following let-downs score heavily on the failure matrix: Marketing Approach: The essence of Marketing is to enhance the normal saleability scales of a product against a backdrop of prevailing socio-economic scenarios. In todays conditions, the general masses have become conscious about wide-spread environmental deterioration as a result of which, consumers were all the more influenced towards these environment friendly cars. The incorrect statements resulted in financial and reputation losses which if at all, might take very long to patch up (Loh, 2015). Risk Management: In todays ever-changing scenario, corporates are forced to consider beyond the traditional operational and financial factors. Social, environmental, circumstantial and ethical aspects have become of equal significance and have to be factored into decision making by the senior-most officials while finalising its future lines of functioning. Internal Audit and Control: While developing the internal governance modules of any entity, due weightage should be given to non-financial components specifically if these can be influenced to attain windfall financial gains. The various elements having direct impact on the financial outcome of the company are easily identifiable and quantifiable and hence, in most cases form the entire base for all critical decision-making. The share of pie of balance inputs, although much smaller in size, should not be neglected to ensure taming of reputational issues such as those faced by VW today (Duska, , Duska 2004). The said scandal has totally taken the concepts of CSR, risk management, accounting theories ad responsibility of directors for a ride. The auditors are also held responsible for signing an audit report where the management are self proclaiming themselves as a responsible and eco friendly organization. Manipulation of accounting software is the biggest reason for the occurrence of such a scandal which clearly shows how weak the management accountancy as well as internal control procedures and the audit team was. This is a clear cut example of the importance management accounting in business ethics holds(Hotten, 2015). As a common practice, most companies have very lucrative incentive structures which are directly linked to the various operating parameters of the entity. This induces senior officials to look beyond the levels of normalcy and if not streamlined in the right directions, may lead to manipulation of procurement, production, marketing and selling parameters to enhancement of vested interests at the cost of the companys overall well-being. Thus it is very important for the management accountants to perform their duties with utmost care and caution so as to prevent happening of any kind of corporate scandals (Alam, 1999). The role of a management accountant cannot be completely ignored as it is he who drives the internal processes and ensures confidentiality of the organizations data. Thus to ensure this, the management accountant has to be trustworthy and ethical in his performances. As per Professor Horia Cristia, the managers use the information generated by these accountants basically for three purposes, making and monitoring of the plans, day to day co-ordination and formulating ethical marketing gimmicks and resolving any issues faced by the entity. Thus the management accountants far-sightedness towards providing information which is correct and which would drive the organization towards the right direction taking into consideration the fact that the top management defines its own policies and procedures based on the information provided by them, they should follow the highest standards of ethics in their performance (Amat et.al. 1991. Lack of presence of independent Directors and/or Consultants often pave the way for decision making in favour of vested interest groups and spoil the internal working ethics of an organisation. Required balance of independent and related officials in the decision-making strata of a company significantly reduces influenced resolutions. This is important for the accountants to note and if their is any deviation from the same the said should be written down in clear terms so that the investors can take a informed decisions (Elias, 2006). Many Management Accountants and Economists across the globe have cited implementation of Corporate Social Responsibility related activities as a good step towards eradicating this social crisis. Triple Bottom Line is a proven way forward for betterment of social, economic and environmental aspects. It induces greater level of transparency across all levels of the organisation in front of the community as a whole, thereby reducing likelihood of unethical practices .Establishment of Codes of Ethical and Training on the same goes a long way in imbibing standards and values within the organisation and across all hierarchies of employment, right up to the Board (Zeiger, 2015).Further to this the top management should always encourage Whistle-blowers by protecting and incentivising them and take strict disciplinary actions against the wrong-doers. This not only encourages more employees to indulge in this practice, but also makes misdemeanours more difficult. The management accountants are placed in the first position in the opinion polls conducted in USA when it comes to ethical practices. The argument is totally for the topic that if the management accountants follow the basic guidelines of business ethics then corporate scandals will be minimized to a great extent (Williams, Elson, 2010). For the same they are to adhere to four basic principles of improving on their professional competency forefront on a continuous basis, to maintain confidentiality of the information within legal boundaries, they should be unbiased as well as corruption free. Last but not the least, the said information which is communicated should be true from all angles even if not in favour of the organization. Presenting wrong information just to be in the good books of the management is unethical from their professional front as well (Lohrey, 2015). Specific Committees may be considered for monitoring ethical behaviour and practices and members of the said Bodies should preferably be a mix from all departments and divisions of the company. This cross-functional team ensures that the members are aware of all happenings within the organisation (Armstrong, 2003). Thus it is clear that the occurrences of the bankruptcies is basically due to lack of professional ethics that is mandatory to be followed in the accounting profession. Thus management accountants should be taught this as a separate subject of their curriculum. But the said is still a debatable issue as only classroom teaching cannot prevent such mishaps to occur. It is also the organizations contribution towards ethical decision making of management accountants. It is still at a very indecisive stage that whether proper ethical training should be provided to the management accountant or the internal controls in place are good enough to detect unethical behaviour. It is the expectation of the management which is in opposition to the principles laid down in preaching the professional ethical standards, the desire to rise high within an organization at a speedy rate and personal obligations which add to such low standard performances (Hajjawi, 2008). The accountants have to always keep this in mind that they are also employees of the company similar to their managers and it is their responsibility also to be loyal in their conducts. Thus, as a management accountant it is clear that if proper ethics are followed then business scandals can be prevented to a large extent for which certain steps are required to be undertaken as summarized below: Proper education on what ethics is. Motivation from the organization in which the accountant is employed. Self control and self motivation (Mintz, 1992) Instances of Unethical Practices, whether legal or illegal, are corrosive in nature and eat into our societys pedestal creating a void which encourages further inducement into such acts and misdeeds. No matter what, the power to abstain from such involvement and report misdemeanours lies in the hands of the masses and with sustained joint efforts along with the Government and other Public Bodies, eradication of such evils from our society should be the new shining light across the horizon. Lastly on a concluding note it is to be well understood that where the problems lie and how to deal with those problems so that such unethical business practices can be suitably avoided. References: Vitez, O., 2015, About Ethics in managerial Accounting, viewed on 22nd May 2016, Senaratne, S., 2015, The Role of Ethics in management Accounting, Alam, K.F., 1999, Ethics and Accounting Education, Teaching Business Ethics , Kluwer Academics Publishers: Netherlands Chandler, R.C., 2005, Avoiding Ethical Misconduct Disasters, Graziado Business Review, vol.8, no. 3 Adams, C., 2015, VW Scandal: ethics versus profit, economia, viewed on 21st May 2016, Hotten, R., 2015, Volkswagen: The Scandal Explained, viewed on 21st May 2016, Loh, K.M., 2015, The VW Scandal: Huge Consequences , Simple Ethic Lessons , Ominous Implications, viewed on 21st May 2016, Zeiger, S., 2015, Effects of a Lack of Ethics on a Business Environment, viewed on 21st May 2016, Lohrey, J., 2015, Summarizing the Role of Ethics in Managerial Accounting, viewed on 22nd May 2016, Armstrong, M.B., 2003, Ethics Education in Accounting : Moving toward Ethical Motivation and Ethical Behavior.

First Amendment Rights and Pragmatic Solutions free essay sample

A comparison between the First Amendment rights and courts pragmatic approach to the Amendment. This paper takes a look at six applications in order to compare the First Amendment rights to free speech to the courts pragmatic approach to First Amendment issues. When it comes to the First Amendment of the United States Constitution the courts are often caught between a rock and a hard place. If the courts protect the right of the First Amendment there are sometimes substantial consequences that could have been avoided by suppression. If the court rules to protect the interests of many and rules against freedom of speech then it finds itself in violation of the constitution. It is a balancing system in which the court is constantly weighing the good of all against the nature of the first amendment. It is a battle that will continue as long as we are a nation that abides by the constitution, which also allows us to request court intervention and mediation regarding the amendment. We will write a custom essay sample on First Amendment Rights and Pragmatic Solutions or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page