Abstract This paper outlines the slowdown in the American economy. It discusses, among other issues, the average American consumer's reaction to the increased threat of terror and lowered job stability. This paper raises the issue of the oil crisis and its implications on the American public.
From the Paper "The public demand for goods and services that seemed to be at the crux of many arguments against the reality of a recession has slowed substantially. Undeniable market declination and excruciating deficits in corporate, and even more troublesome, total industry profits have finally taken their toll on the average American. Lowered job security and renewed promises of a terrorist threat to the mainland are only a couple of the factors that have landed us in our current status which is, to say the least, not promising to those on the supply end. A decreased willingness to spend has been detrimental to the viability of formerly prime industries, particularly in neighborhoods like tech and air-travel. As if to gird those that have held fast to the validity of the notion that we have suffered a recession, the failure of widespread consumer demand to grow this quarter has perpetuated the condition of ailing stock prices, spreading unemployment and an unreliable job market."
Abstract This paper examines a method for estimating targeted capital structure using data extracted from a firm's financial statements. The weighted cost of capital (WACC) with its components: debt, common and preferred stock are calculated. The cost of retained earnings is calculated and explained. Issues regarding the computation of net present value (NPV) and internal rate of return (IRR) are explored in relation to capital budget questions. Additional issues management should evaluate when considering capital expenditures are discussed.
From the Paper "For most firms the "average cost of capital" is the combined cost of capital raised from the sources that the firm uses (Brigham & Ehrhardt, 2002a, p. 421). Each capital component will have its own minimum rate of return, expected by the investors, who provide that form of capital (p. 421). This combined capital cost is termed the "weighted average cost of capital" or WACC (p. 421). Typically capital is obtained from the components of debt (preferred and common) and stock (p. 420)."
Abstract The paper shows that the increased globalization of companies has led to a dilemma for investors because accounting standards in various capital markets are not always reliable. It shows too that in an effort to increase the reliability of financial information in capital markets the SEC seeks to maintain the high quality of financial reporting in the U.S., while working towards establishing a high quality financial reporting structure worldwide. This paper summarizes the issues presented in the SEC's concept release on International Accounting Standards. These issues include: the five elements of global financial reporting; exceptions to rules for foreign private issuers using accounting standards that differ from GAAP; and the three criteria for assessing the International Accounting Standards Committee.
From the Paper "Rigorously interpreted and applied: The development of high standards does not ensure that the standards will be upheld. In order for the standards to be practiced consistently accountants have to understand the responsibility they have in applying these standards consistently and in a manner that is needed to ensure high quality. This understanding only comes when regulators including auditors, rigorously interpret and apply these standards to accounting standards around the globe. The SEC contends that IASC standards are not used in many capital markets, which makes it impossible for them to be interpreted or applied. In addition countries that do utilize IASC standards have yet to incorporate the new changes created by the IASC."
Abstract This paper examines Russia's economic status and growth during the nine years after the disintegration of the USSR. An analysis of factors affecting the GDP is given. Development through regional integration is examined, and the ramifications of economic development of Russia for global business are discussed.
From the Paper "According to the Russian official data, GDP declined in 1994 by 15 per cent compared with a 12 per cent decline of 1993. It is believed however that the fall is probably overstated. Agricultural production fell 9 per cent in 1994. The grain harvest totaled 81 million tons, which was around 15 million tons less than in 1993. Industrial output was down 21 per cent with all major sectors taking the hit in 1994. Unemployment increased to an estimated 6.6 million (7 per cent of the work force) by yearend 1994.
By the 1997 year-end, Russia had attained progress by bringing inflation rates under control, stabilizing the ruble, and ambitiously transferring thousands of enterprises to private ownership, under the privatization program. Significant laws that were oriented towards market economy had been passed too, which included the establishment of a commercial code that governed business relations and an arbitration court that resolved economic disputes."
Abstract The paper shows that the real challenge of organizational behavior and development lies in the opportunity to manage uncertainty, change, conflict, and other complexities of organizational life. It discusses that the manager has a number of tools available to achieve this. This paper will look at some of tools and how they can be used to manage organizational life. It covers: Contingency Approach, Process Theory, Systems Theory, Participative Management and Building Effective Groups.
From the Paper "One of the most important factors in successfully making changes is having members from key departments cooperating on the changes (Daft 398). The task force best allows this to occur. Employee commitment towards the new activities is also vital to their success. Employee commitment is increased in a task force since employees are more empowered and hence motivated. It is said that while the task force structure can be cumbersome, it is the most effective and creates the changes both effectively and efficiently (Chambers 169).
Flexibility and adaptability are also vital for uncertain times and the team structures provide this flexibility as workers become more multi-skilled. "
Tags: motivational, Maslow?s, hierarchy, of, needs, ERG, Expectancy, theory
Abstract This paper discusses theories of business ethics, starting with a general definition of business ethics. The marketing practices of Toys R Us and Home Depot are examined in light of that definition. The tobacco industry is then briefly considered.
From the Paper "The issue of Business Ethics has been discussed by a number of management experts, corporate executives and business professionals. In recent years, organizations have started to adopt a realistic approach while considering the moral aspects of their businesses. As the awareness level among the general public is increasing and people are expecting the companies to be more socially and morally responsible, organizations have started to seriously consider the ethical aspects of their business. In this regard, a lot has been discussed by management gurus and several theories have been presented. The objective of this paper is to discuss these theories and concepts in terms of a typical highly competitive market environment."
Abstract This paper examines Enron's bankruptcy and takes a look at the business community and the people involved with the financial departments of the corporation in order to analyze reasons for the failure. It discusses those affected by the bankruptcy, including Enron employees, the public, and the external market.
From the Paper "The former employees of Enron are also the targeted audience as they are the ones who really suffered and they need to know and be assured that the prospect of their newly found joblessness is being looked into and hope shone through a weave of bureaucracy and red tape. Hundreds of current and former employees of the failed energy firm filed a joint court case, seeking damages for losses they suffered by investing in the company's share plan. The complaint, which is on behalf of more than 400 staff, names ex-chief executives Kenneth Lay and Jeffrey Skilling, ex-finance director Andrew Fastow, auditors Andersen and trustee firm Northern Trust as defendants. The allegation is that Enron encouraged its employees to invest their savings in its shares, despite the knowledge of senior executives about the firm's real plight."
Abstract This paper analyzes the issues surrounding an employer's decision to hire regular rather than temporary employees. It discusses policy issues involving regular employees and temporary employees such as benefits, compensation, discharge, discipline, and overtime pay. The paper concludes with suggestions for eliminating or reducing the stark contrasts between regular employees and temporary employees.
From the Paper "Overtime pay is another area where there is a divergence between regular employees and temporary employees. As mentioned above, regular employees are generally salaried, i.e., they work a set number of hours and receive a fixed income each month. Temporary employees are generally paid hourly and their hours of employment may vary, resulting in a variable income each month. In terms of overtime pay, regular employees who are salaried do not receive overtime pay regardless of how many hours per week they work. Regular employees who are not salaried, like temporary employees, receive overtime pay (time and one-half) for each hour over 8 hours per day and for each hour over 40 hours per week."
Abstract This paper defines the concept of business ethics and uses the setting of an everyday office environment sitution to understand various theories. It shows how awareness level among the general public is increasing and people are expecting the companies to be more socially and morally responsible. The paper examines steps taken by organizations to seriously consider the ethical aspects of their business and to improve them. An imaginary scenario is presented and several business ethics theories are applied to analyze the situation.
From the Paper "While discussing the application of business ethics theories to a typical office worker's experience, we should first discuss the concept of business ethics.
"In very simple terms the concept of ethics involves learning what is right or wrong and then deciding to go for the right thing. However, in practical terms it is not that easy to determine the right thing as is discussed in many management and business ethics literatures. Majority of the ethical problems or issues faced by a person in the workplace are not that simple to be solved as it apparently seems while going through the literature on business ethics, which recommend a "complete" solution to the problem."
Abstract The author states that, in the United States, the evolution of labor law has reflected a greater concern for the well being of the employee. Many labor laws such as the Equal Pay Act of 1963, the Civil Rights Act of 1964 and American with Disabilities Act (ADA) are presented. The paper concludes that the recognition of the fundamental rights of workers has lead to a safer and more employee friendly work environment.
From the Paper "The Equal Pay Act of 1963 requires employers to provide equal pay for equal work regardless of sex. This act has become more and more important along the years since its implementation because in today's market woman are working and providing for families along with men. The Civil Rights Act of 1964 prohibits the discrimination of employees on the basis of race, sex, color, religion, or national origin."
Abstract This paper discusses the unethical side of business, in particular the ethics facing companies who sell products that have been produced under sweatshop conditions. It examines the exploitation of sweatshops and the surrounding scandals. It also evaluates a code of ethics that The American Association of Family and Consumer Sciences has set up that could serve as a model for all companies, including those corporations and multinationals dealing with Third World suppliers. The paper includes an appendix of relevant articles.
From the Paper "Foreign sweatshops using child labor create particular problems for American companies outsourcing to such companies. The issue is not simply the ethics of sweatshop conditions but also the ethics of child labor, which may mean something different in the foreign country than it means in the United States. Some point out that this is an issue that makes the question of social responsibility more difficult to assess, given that a boycott of goods produced by child labor could make conditions in these Third World countries even worse (Razzi, 1995, 46). American companies should adhere to a code of ethics that prevents them from ending up in the middle of the sort of scandals noted above."
Abstract This paper discusses pros and cons of sweatshops. It looks at the benefits to third world economies, evolution of human rights in industrial nations and conditions in sweatshops. It focuses on the Nike Shoe Company situation and how this company may be using sweatshop labor.
From the Paper "The word sweatshop immediately jumps off the page any time you read it with a scathingly negative connotation. The word conjures up imagery of smog-belching industrial behemoths, with whip-cracking slave-drivers giving better treatment to the coal in the furnace than the worker on the assembly line. As with most stereotypes, sweatshops are partially a matter of fact. By the public's generally accepted definition, a sweatshop is ?a workplace where workers are subject to extreme exploitation, including the absence of a living wage or benefits, poor working conditions, and arbitrary discipline, such as verbal and physical abuse.? (Sweatshop Watch). This stigma has led to a huge campaign, especially in economically prosperous countries, over the existence of these sweatshops. The terrible irony in this situation: Those who stand to get hurt the most by anti-sweatshop efforts are the very people the efforts are meant to help."
Discusses growing private prison industry and its role in the U.S. economy specifically in poor small towns. Social implications. Special interests. Prison construction. Issue of "legal exploitation" of prisoners.
1,800 words (approx. 7.2 pages), 6 sources, 2001, $ 63.95
From the Paper "The United States has the highest per capita incarceration rate in history and the prison-industrial complex has become a key element of the U.S. economy. Like the military industrial complex, a term coined in President Dwight D. Eisenhower's farewell speech in 1960, the prison-industrial complex is a mixture of government interests and private business. Profit, of course, is a major motive with social control another. The social implications of the prison-industrial complex are profound, and indicate the direction the United States is taking after the Cold War to solve its social problems. The result, however, is not the solving of social problems with better health care, education and services for people, but the growth of a new big business, the prison industry."
From the Paper "Often called one of the greatest of the 20th Century, Denver International Airport, as explained in the case study, had 64 separate problems that merited attention and solution. Because of this, the only way to identify the "Overall-clear cut problem which requires immediate attention" is to make an assumption that all of the 64 problem areas cited are actually subsets of the largest problem. After preparing a matrix of all the problems, it became apparent that the major problem is that at no time during the long time span identified in the case were the basic tenets of Project Management considered. Because of this failure, a project that was to cost a little over $1 billion cost almost $5 billion, and the final product was, and ..."
From the Paper "Transformational leaders are able to effectively communicate their vision to an organization and provide an environment where individuals are empowered to achieve that vision. Instead of telling employees what to do, transformational leaders provide the tools that can help employees achieve greatness. A subset of transformational leadership is charismatic leadership, which is built on the idea that sheer force of personality can be enough to provide leadership to an organization and inspire high levels of personal loyalty from employees to leaders.
The Disney Company has had two charismatic leaders in its history: Walt Disney and Michael Eisner. Disney's tenure was followed by lackluster performance at the company after his death, and none of the executives at the organization possessed a personality strong enough to..."
