Developing an Ethical Business Environment Essay

Developing an Ethical Business Environment - Essay Example (Kuhn, 2005, 12) Organizational management involves several serious tasks that concern not only the whole company but also its stakeholders. This is the reason why the need for the fine application of ethical leadership is essential for the pursuance of rightful managerial policing processes. Management, as known to many is a performed function in every organizational set up that is essential for arranging the activities of certain business groups. The said act of organizing a business group indeed requires a high level of leadership skills. As for this reason, governance then is considered a responsibility that demands effort and patience in dealing with other people (Humes-Schulz, 2002, 15). As the present human society advances to being economically global, the need for management especially on commercial business organizations is heightened. Hence, there are necessary points of consideration when good governance is being talked about. Today, as management of businesses deal with multicultural differences of the people making up the company, it could be noticed that the challenges in dealing with organizational matters becomes harder to deal with, hence, requiring more skillful attitudes and acts towards the responsibility of organizational management (Cragg, The Shopping Mall Challenge). Certainly, the following organizational issues are the major responsibilities that the leaders must address in their daily activities: - High Profile organizational Failures This concerns the issue that is concerned with the failure of the company, which in some way becomes controversial and in a way destroys the company's reputation in the business industry. Leaders of the organization should see to it that a certain measure of damage control should immediately be taken into consideration to be able to answer to the doubts raised against the company through the existence of the said issue. - Higher expectations on the part of the public sectors and regulators Since the business organizations are mostly aiming for globalization, the public then as well as with the regulators within the society have higher expectations form the organizational governance. Since the aim for progress is high, the effort to be placed forward should also account for the goals that are to be reached. - Increasing litigation and concerns about legal liability Because of being multinational, the business organizations today are subjected to more complex and more systematic legalities that give them their capabilities and limitations in operating with their business on certain countries around the world. - More takeovers, mergers, acquisitions Since the organizations are expected to become larger, the issue concerning the takeovers and merging of the organizations with other business companies, it easy to conclude that the responsibility of the governing department of any business organization subjects the leaders to resort to different resolutions to be able to deal with the said business transactions with other. - Global Competition and Technological change Carrying these things into consideration

An examination of assessment tools in relation to Watson's theory of Research Paper

An examination of assessment tools in relation to Watson's theory of human caring - Research Paper Example Caring Tools that expand the abilities of nurses to assess and evaluate clients in the various stages of health, illness and stress are particularly an important part of the knowledge that nurses should have and ultimately impact on the quality of healthcare. Besides this, Watson’s theory of human caring enables nurses to integrate mind-body-spirit dimensions of assessment tools hence delivering better services to patients. The advent of evidence-based practice means that the use of assessment tools is influenced by the data available on them in terms of cost, length, ease of use and suited populations. When using such data, it is also important to evaluate its validity to ensure that the correct assessment tools are utilized. This study will investigate all these aspects focusing on three assessment tools; Dysfunctional Attitude Scale, Health Self-Determination Index (HSDI) and the Spiritual Perspective Scale. The impact of these tools on assessment phase and quality care pro vided by nurses will be evaluated followed by their application to homeless individuals. Assessment Tools Dysfunctional Attitude Scale (DAS) This is an assessment tool that was developed to measure the pervasive/silent maladaptive cognitive vulnerability exhibited by depressed individuals (Antony and Barlow, 2010). It is based on the view that such depressed individuals bear negative attitudes with regard to life and this can be analyzed through determining the views of an individual to self, world and future. This is what is usually referred to as the cognitive triad that can be used to tell apart depressed from non-depressed individuals based on their pessimism. The Dysfunctional Attitude Scale is a self-report 7-point likert scale that measures the occurrence of attitudes that portray underlying dysfunctions and how intense such attitudes are (Weissman and Beck, 1978 cited in Graaf et al., 2009). The original Dysfunction Attitude Scale was based on 100 items but was later simplif ied into DAS-A and DAS-B parallel forms that contain 40 items only. The result of this is that the DAS test is an inexpensive, easy to perform and relatively short undertaking. Graaf et al. (2009) performed DAS on populations whose demographic factors significantly correlated with depression including the unemployed individuals, individuals who were occupationally disabled and individuals with low levels of education. The dysfunctional attitudes measured among such populations include attitudinal approval, entitlement and achievement which perfectly interrelate with the mind-body-spirit dimensions as put forward by Watson hence resulting in a better assessment by nurses translating to better treatment. In terms of reliability and validity of the evidence, Graaf et al. (2009) and many other researchers have performed psychometric experimental studies on DAS and generated reliable and valid results. This is demonstrated through correlation analyses and actual distinction between indiv iduals with and without depression hence the DAS is safe for application in clinical practice. DAS is particularly important as a tool for nurses during the assessment stage as it allows the nurse to get a grip of the major underlying factors behind depressed individuals and as a result aid in the proper interventional measures for example through pharmacopsychotherapy that will deal with both biomedical aspects and psychological aspects of illness. Perceived Stress Scale Cohen, Kamarck and Marmelstein (1983, cited in Peters, 2007) designed a measurement of the level to which individuals perceived their life situations as being stressful in terms of unpredictability, overload and inability to control. It uses 14 items in a likert scale with responses ranked as â€Å"never† to â€Å"very often.† Seven of the items in the scale are positive and through the test the level of self-perceived stress can be

Managerial Control Systems Assignment Example | Topics and Well Written Essays - 2000 words

Managerial Control Systems - Assignment Example The second phase is the identification of opportunities for revenues and costs that the existing system fails to report, and the specification of what changes must be adopted in the system in order to better highlight the opportunities, to make the business more profitable yet more environmentally sustainable. It requires establishing control by assigning responsibility centres and sub-centres, the drivers relevant in their cost assignment, and the setting up of records to duly report activities and allocation of corresponding costs. It also involves proper communication and consistency in applying these measures. The final phase is the trial and documentation of changes to discover how the changes will affect the results from those achieved under the current system. This trial and assessment seeks to determine whether the changes introduced leads to improved management decision-making. Included in the assessment is an evaluation of management tools introduced, how they enhance the r elevance of the information delivered to managers, and the potential and opportunities created in enhancing the type, quality and accuracy of managers’ decisions that impact on the environment and the firm’s future profits. 2. ... t generates the standard summary accounting information (chart of accounts, trial balance, the general ledger, and the income statement and balance sheet). There is no categorization or distinction among costs, all being reported together as overhead. These outputs are used to manually generate the pertinent spreadsheet leading to the more detailed income and expenditure statement and cash flow forecast, which have greater detail to support management decisions. Capital expenditures are distinguished as to capital works and capital replacements. Acquisition price form the sole criterion for deciding among projects, without taking into account the forecasted revenues/ benefits accruing therefrom. There is no system for monitoring costs after acquisition of either capital works or replacement; in the case of the latter, replacements depend upon user requests and not upon any systematic capital budgeting method. 3. Identify the environmental impacts associated with MLC’s operatio ns and explain how the costs associated with the environmental impacts are treated and flow through MLC’s accounting system (6 marks, 1 page) According to the case study, there are four environmental impacts of MLC’s operations. These are energy usage, paper usage, water usage and waste management. Each of the costs associated with these impacts are coded directly into the firm’s expenses accounts. Expenses that go into energy, paper and water usage are assigned to the broad category of â€Å"administration and general† overhead expenses, while costs incurred for waste management are recorded under â€Å"caretaking and cleaning† overhead expenses. The costs are loosely allocated between â€Å"tuition† and â€Å"boarding†; the criterion for doing so is not specifically provided for, and is

An examination of assessment tools in relation to Watson's theory of Research Paper

An examination of assessment tools in relation to Watson's theory of human caring - Research Paper Example Caring Tools that expand the abilities of nurses to assess and evaluate clients in the various stages of health, illness and stress are particularly an important part of the knowledge that nurses should have and ultimately impact on the quality of healthcare. Besides this, Watson’s theory of human caring enables nurses to integrate mind-body-spirit dimensions of assessment tools hence delivering better services to patients. The advent of evidence-based practice means that the use of assessment tools is influenced by the data available on them in terms of cost, length, ease of use and suited populations. When using such data, it is also important to evaluate its validity to ensure that the correct assessment tools are utilized. This study will investigate all these aspects focusing on three assessment tools; Dysfunctional Attitude Scale, Health Self-Determination Index (HSDI) and the Spiritual Perspective Scale. The impact of these tools on assessment phase and quality care pro vided by nurses will be evaluated followed by their application to homeless individuals. Assessment Tools Dysfunctional Attitude Scale (DAS) This is an assessment tool that was developed to measure the pervasive/silent maladaptive cognitive vulnerability exhibited by depressed individuals (Antony and Barlow, 2010). It is based on the view that such depressed individuals bear negative attitudes with regard to life and this can be analyzed through determining the views of an individual to self, world and future. This is what is usually referred to as the cognitive triad that can be used to tell apart depressed from non-depressed individuals based on their pessimism. The Dysfunctional Attitude Scale is a self-report 7-point likert scale that measures the occurrence of attitudes that portray underlying dysfunctions and how intense such attitudes are (Weissman and Beck, 1978 cited in Graaf et al., 2009). The original Dysfunction Attitude Scale was based on 100 items but was later simplif ied into DAS-A and DAS-B parallel forms that contain 40 items only. The result of this is that the DAS test is an inexpensive, easy to perform and relatively short undertaking. Graaf et al. (2009) performed DAS on populations whose demographic factors significantly correlated with depression including the unemployed individuals, individuals who were occupationally disabled and individuals with low levels of education. The dysfunctional attitudes measured among such populations include attitudinal approval, entitlement and achievement which perfectly interrelate with the mind-body-spirit dimensions as put forward by Watson hence resulting in a better assessment by nurses translating to better treatment. In terms of reliability and validity of the evidence, Graaf et al. (2009) and many other researchers have performed psychometric experimental studies on DAS and generated reliable and valid results. This is demonstrated through correlation analyses and actual distinction between indiv iduals with and without depression hence the DAS is safe for application in clinical practice. DAS is particularly important as a tool for nurses during the assessment stage as it allows the nurse to get a grip of the major underlying factors behind depressed individuals and as a result aid in the proper interventional measures for example through pharmacopsychotherapy that will deal with both biomedical aspects and psychological aspects of illness. Perceived Stress Scale Cohen, Kamarck and Marmelstein (1983, cited in Peters, 2007) designed a measurement of the level to which individuals perceived their life situations as being stressful in terms of unpredictability, overload and inability to control. It uses 14 items in a likert scale with responses ranked as â€Å"never† to â€Å"very often.† Seven of the items in the scale are positive and through the test the level of self-perceived stress can be

Will Boots benefit from Treat Street or will it have a negative impact Dissertation - 1

Will Boots benefit from Treat Street or will it have a negative impact on the perception of their loyalty card - Dissertation Example The primary aim of this paper is to offer a set of plausible recommendation to Boots for developing a strong base of loyal consumers through a better consumer relationship and communications. In this process, the consumers’ perceptions and views regarding the loyalty programs and loyalty cards have to be analysed and identified for incorporating effective changes. In order to achieve this aim an extensive research has been conducted using a set of questionnaires. The questionnaire includes multiple types of open ended and close ended questions. The close ended questions are consists of likert scaled questions where five major factors have been mentioned say price discounts, exchange offers, gifts, enhanced value added services, redemptions and other miscellaneous benefits. These likert questions have been used for quantitative data analysis through data process methods. Besides, there are also three close ended questions which have been used for qualitative research purposes. There are three questions for close ended purposes which has been used to collecting comments for qualitative purposes. For better and higher rate of accuracy level, 100 respondents have been interviewed for collecting the primary data using the set of questionnaire. Higher range of sample size helps to reduce the sampling and other types of research related errors. The result of the surveys and interviews using the questionnaire are explained below and the relevancy of each question will also be discussed along with. Apart from the likert scale questions, there were three close ended questions which directly enquire regarding the loyalty card and brand. The first question aims to obtain the views of respondents about the relationship of loyalty cards and trust of the brand. This question strives to determine the influence of loyalty cards offering on consumers brand preferences. The following diagram represents the results of the respondents graphically. Figure 1: Do you feel loyal ty cards can help in improving trust with the brand? (Source: Author’s Creation) As per the above table, it can be observed that nearly 65% of the total respondent believes that loyalty cards are very effective for enhancing the trust with consumers with a specific brand. However, on the other hand, there were also 20% of respondents who do not consider that loyalty cards are effective in marinating better relationship with a brand by creating trustworthiness among them. Rest 15% of respondents are undecided or no sure that whether loyalty cards are really effective in shaping a better trust for a specific brand. As per the overall feedbacks from 100 respondents, it seems that loyalty cards are important for consumer relationship perspective. The next close ended question focuses on the influence of the loyalty card on the consumer’s purchasing decisions. Consumer’s buying process is complicated and influenced by a number of factors and among these factors, mark eting mix related factors plays very important role. The primary objective of marketing mix is to create value for the customers and in this respect loyalty cards are vital tool. The business organisation can influence the consumer’s behaviours by bringing effective changes in the marketing mix strategies. Therefore, this question is helpful got the Boots in reshaping their loyalty cards offering to influence the consumers’ buying decisions. The following figure presents the results of the survey. Figure 2: Does the aspect of loyalty card affect your purchase

Improve communication Essay Example for Free

Improve communication Essay The reason why Carly didn’t come to me earlier to report the project delays was because she knew the reasons of the delay were not genuine. She was definitely part of the problem and therefore she didn’t have the language of reporting the conflict that was affecting the team project. Also, since the rest of the team knew her weakness she knew if she reported the case to me I would involve the rest of the members thus exposing her weaknesses. Carly hasn’t had a conversation with Morris about their differences despite being the supervisor since she was aware of the root cause of the problem (herself). On the other hand, Morris did not break the ice and discuss the problem with Carly because he assumed that it was Carly’s responsibility as the manager to approach and solve all differences. Furthermore, it was clear to him too of Carly’s participation in the problem. He had also been treated unfairly by Carly and this made it difficult for him to approach Carly. Coupled with the fact that Morris was more educated than Carly, pride could not be ruled out. If Morris had had a conversation with Carly, he would have mentioned about his unfair treatment to her. I tend to think since the other team members knew that Carly was treating him unfairly, this would have been his motivator to mention of this problem. He knew he had support from the entire team. As for Carly, I bet she would have owned up to this problem and promise Morris of a fair treatment in their future interactions. After such a conversation she would have realized that she was losing a key team member and the other team members had observed it previously which would also affect the whole team thus portraying her as an incompetent manager. For Carly to have been given this role of a project manager meant she had positive leadership qualities and therefore would have owned up to her failures. Failure to accept her mistake would have left her as a lone ranger thus breaking the team spirit. The biggest problem with the way these team members interacted lied on communication breakdown and barriers. This is because it’s clear the other team member had noticed the dispute but no one had shared about it with me or even asked Carly or Morris. Teamwork was minimal in this team and this would have affected this project very adversely if not handled well and quickly. To break this communication barrier and improve communication, it would be beneficial for the team to encourage more frequent and effective upward, downward and team communication. With more communication, any arising problem would be handled well in advance before affecting the project negatively. I think Carly should continue serving as the project manager. This because having discussed the dispute openly, the parties would have understood the facts of the problem and hence allow them to see their areas of agreement, thus turning the conflict into new ideas of enhancing teamwork in the project.

Factors Affecting Financial Reporting Quality

Factors Affecting Financial Reporting Quality Financial Reporting Standards Financial Reporting Standards (FRSs) and Accounting concepts influence the production and presentation of financial statements. The FRSs that influence the production of financial statements are: FRS 3 Reporting Financial Performance The FRS sets out the basis for presentation of general purpose financial statements in a manner that ensures comparability. As the FRS requires reporting entities to highlight financial performance to aid the users in understanding the performance achieved, it sets out the overall framework for the presentation of financial statements. It also lays down the guidelines for the structure of financial statements and defines the overall considerations for financial statements, such as fair presentation, accrual basis of accounting, consistency of presentation, materiality and aggregation, and comparative information. This impacts the way profit and financial performance is reported and also the valuation of the assets and liabilities. It helps the users of accounts compare financial statements both with the entitys financial statements of previous periods and with the financial statements of other entities. FRS 15 Tangible Fixed Assets FRS 15 sets out the principles of accounting for initial measurement valuation and depreciation. It ensures that tangible fixed assets are accounted for on a consistent basis. It requires residual values to be reviewed at each balance sheet date. This impacts the valuation of tangible fixed assets. IAS 2 Valuation of Inventories This accounting standard sets out the accounting treatment for inventories. It provides guidance for determining the cost of inventories. It is due to this standard a loss due to damaged goods is excluded from inventory cost. The three concepts that have influenced the production of the financial statements are: Accrual concept The financial statements have been prepared on an accruals basis. The accrual concept, also known as matching principle, requires that transactions are reflected in the accounts of the period to which they relate to and not in the period in which payments are made or received. Impact of Accrual Concept on Profit When a trading and profit loss account for a period is compiled, the cost of goods sold relevant to the sales made during the period should be recorded accurately and in full in that account. Costs and incomes concerning a future period such as prepaid expenses and pre-received income must be carried forward as a prepayment for that period and not charged in the current profit statement. For example, prepaid general administrative expenses would be carried forward to the period they relate to. Similarly, expenses accrued or income accrued will be included in the current periods profit statement by means of an accruals adjustment. For example, manufacturing wages accrued will be added to manufacturing wages for the current period. Impact of Accrual Concept on Assets / Liabilities All prepaid expenses and accrued income will be treated as assets and accrued expenses and pre-received incomes will be treated as liabilities. Going Concern Concept Going concern concept is a part of UK statute law. This concept assumes that the business under consideration will remain in existence for the foreseeable future. Without this concept, accounts will have to be drawn up on the basis of what the business is likely to be worth if it is sold gradually at the date of the accounts. Impact of Going Concern Concept on Profit When an entity has a history of profitable operations and has a ready access to financial resources, one can conclude that the organisation will remain in existence for the foreseeable future. For example, as Appleby Oakley and Company has regularly been making profits, one can comfortably draw a conclusion on going concern concept. Impact of Going Concern Concept on Assets / Liabilities Going concern concept impacts the valuation of assets and liabilities. Due to the going concern concept, the values placed on continuing business assets and liabilities are different from the value placed on the assets and liabilities of a closing business. For example, stock is normally valued at cost price but if business were about to close down trading then it will be more relevant to use resale value of stock. Impact of Going Concern Concept on Users of Accounts Going concern concept impacts the decision making of users of accounts. For example, management may need to consider a wide range of factors relating to current and expected profitability, potential sources of replacement financing etc. while taking decisions. Consistency Concept The concept of consistency has been applied because the methods employed in treating certain items such as depreciation within the accounting records may be varied from time to time. According to consistency concept, once a business has decided which accounting methods it is going to apply and how it is going to interpret the various rules of accounting, it should be consistent in all matters from year to year. This is necessary to enable comparison of the results of the business from year to year. Impact of Consistency Concept on Profit If the consistency concept is not there, a business can merely change an accounting method to vary the profits. For example, if a business wishes, it may vary the depreciation rates or method of depreciation at and alter the reported profits. Consider the effects on profit of charging depreciation at 15% this year on  £10,000 worth of fixed assets and then charging depreciation at 10% next year on the same  £10,000 worth of fixed assets. This year you would charge  £1,500 against profits and next year it would be only  £1,000, using the straight line method of providing for depreciation. Impact of Consistency Concept on Assets / Liabilities If there is no consistency in the accounting methods, the assets and liabilities reported in different years will not be comparable. Impact of Consistency Concept on Users of Accounts Users of accounts including investors, management etc. can make more meaningful comparisons of financial performance of the organization from year to year. Partnership Salaries All partners have a right to work in and manage the partnership business. The partners may make arrangements amongst themselves whereby a partner may be entitled to a salary. Partnership salary includes remuneration drawn by a partner from the partnership funds for acting in the partnership business. An agreement to pay a partnership salary to a partner for a special project is an internal arrangement. The effect of the arrangement is that the partner receives a fixed part of the profits of the partnership before the remaining part falls to be divided among the partners in the appropriate proportions. The impact of partnership salary is only on the way the partnerships funds are applied as between the partners. A partner drawing a salary is not an employee and any salary paid to the partner cannot be claimed as a deduction from net profits. Therefore, one can neither treat a partnership salary as a true salary, nor an expense of the partnership, but only as a distribution of partners hip profits to the recipient partner. If Appleby suggests that he receives a salary, he will still be a partner and cannot be treated as an employee of a partnership. This implies that the partnership will not be able to claim a deduction for Appleby’s salary. Similarly, Appleby’s salary cannot create or increase a partnership loss. In reality, Appleby’s salary will be a mere allocation or advancement of profits prior to general distribution and will not be taken into account in calculating the net partnership income or loss. Appleby will need to show the amount received as salary as his income on his tax return. The amounts distributed to Appleby will be brought into account in computing his interest in the profits or assets of the partnership. However, the amount paid as salary is still regarded as constituting part of the profits of the partnership If Appleby gets a salary of  £2,500 per month, profit share of Oakley will reduce from  £85915 to  £73915 as illustrated below: Asset Depreciation In general, an asset can be depreciated if it meets ALL of the following requirements: The asset is used in a trade or business or held for the production of income as an investment property. The asset has a finite period of usefulness in the business that can be estimated and is longer than one year. The asset is susceptible to wear and tear, natural deterioration through interaction of the elements, or technical obsolescence. GAAP specifically excludes land from computation of depreciation. Land normally has indefinite economic life and it does not decline in economic value as a consequence of wear and tear, natural deterioration through interaction of the elements, or technical obsolescence. Therefore, it fails to satisfy the second and the third conditions for an asset to be depreciated. Land is probably the most common asset that is not depreciable. However, buildings may be depreciable. Generally, if such is the case then the cost of the land must be separated from the cost of the building for depreciation purposes. In the scenario under discussion, land and buildings are assumed to imply land and therefore not depreciable. References: Reporting Financial Performance, Available from: http://www.frc.org.uk/asb/technical/standards/pub0102.html, [Accessed 20 November, 2006] International Financial Reporting Standards, Available from: http://en.wikipedia.org/wiki/International_Financial_Reporting_Standards, [Accessed 20 November, 2006] Accounting Concepts and Conventions, Available from: http://www.accountingweb.co.uk/cgi-bin/item.cgi?id=69109, [Accessed 22 November, 2006] ANNEXURE A Assumptions and Working Notes for Task 1-2-3 Assumptions: 1. As the scenario merely states that overheads are apportioned between the factory and the administration/other sections and does not specify a share (except in the case of insurance), following share of overheads is assumed: Rent: factory 1/3 administration etc.2/3 Light and heat: Factory 1/2, administration etc.  ½ Insurance : Factory 1/4, administration etc. 3/4 (given) 2. It is assumed that the accumulated depreciation figures in the trial balance are before taking into account the current year’s depreciation. Working Notes: Cost of Raw Material Consumed = Opening Stock of Raw Material + Purchases of Raw Material – Closing stock of raw material = £12800 + £274500 - £8500 Depreciation on Plant Machinery Plant Machinery at Cost Price=  £31000 Accumulated Depreciation= £18100 Written down value as on 31 December 2003=  £31000- £18100= £12900 Depreciation = 15% on written down value = 15% of 12900=  £1935 Depreciation on Furniture and Fixtures Furniture and Fixtures at Cost Price=  £34700 Depreciation = 10% on straight line basis = 10% of  £34700=  £3470 Depreciation on Motor Vehicles Motor Vehicles at Cost Price=  £28800 Accumulated Depreciation= £12600 Written down value as on 31 December 2003=  £28800- £12600= £16200 Depreciation = 15% on written down value = 20% of 16200=  £3240 There is a 10% mark-up on manufacturing cost. As finished goods are valued at factory cost price with no adjustment for manufacturing profits, the 10% mark-up is taken as a part of the general reserve. Profit share and drawings are held through current accounts. Therefore, an adjusted current account is prepared. Finished goods have been adjusted for the damaged goods. Page 1 of 6Dr. Archana Raheja