agriculture Essay Example For Students

agribusiness Essay Growing up Around agribusiness Essay I accept everybody has been destined to accomplish something. I was destined to be a veterinarian. Individuals disclose to me that I will most likely wind up changing my degree decision twenty seven times before I even alumni structure school. I accept something else. I have experienced childhood with a homestead with loaded up with embraced creatures of various sorts bunnies, pigeons, goats, frogs, hounds, chickens, felines, dairy cattle, and an iguana. Since the time I was seven I new I was destined to turn into a veterinarian. This previous year I was employed to work at the veterinarian center in Bullard. Inside one month I got the chance to enable de-to hook a feline and watch numerous medical procedures. I figured out how to cure creatures without getting bit, give hydrotherapy, and numerous different things. My title was pet hotel orderly I despite everything attempted to help and learn in advance, in medical procedure, when I completed the pet hotel. I generally looked for discouraged creatures particularly the ones that went however medical procedure, in light of the fact that occasionally with out the delicate consideration they required they would not eat and get in shape. Along these lines, this change guaranteed a gracefully of food and finished the need to meander about for food. This advancement was a significant change in the structure of society, likewise a stage in building a lofty notoriety just like an innovator in horticulture. It gave United States a feeling of association and quality which in reality helped in its turn of events. Basically, agribusiness implies raising things deliberately, and the American Indians were the primary ranchers in the Western Hemisphere, said by R. Douglas Hurt in the article Mesoamerican Origins. The American Indians (Mesoamericans) farming turned out to be progressively perplexing. They figured out how to develop harvests, for example, tomatoes, beans, and a wide assortment of plants. They likewise learned different procedures, for example, clearing land and furthermore water system. Due to their prosperity, different Mesoamericans started to settle and furthermore received their kindred Mesoamerican cultivating procedures. Horticulture turned out to be increasingly mainstream and significant that the white pilgrims additionally started to cultivate. After some time, as cultivating turned out to be progressively mainstream, the United States flourished with horticulture. It turned into a significant issue particularly to Thomas Jefferson. He was a key individual in driving the horticultural advancement of the United States. Thomas Jefferson had faith in agrarianism and had a favorable opinion of ranchers. A farming chief ought to comprehend why agribusiness is significant and how to improve and furthermore keep up a decent status horticulturally. Also, Thomas Jefferson held every one of these characteristics. He did what was best for the ranchers just as others in the United States. What's more, by him being an extraordinary pioneer agronomically, numerous others in the administration remembered his thoughts. That is the thing that made this nation solid, we create from quite a while ago and essentially our nation has become more grounded. For instance, In 1970-a rancher could give enough to 2 individuals In 1935-a rancher could give enough to 10 individuals In 1992-a rancher could give enough to 127 individuals In 1998-a rancher could give enough to more than 130 individuals This shows a development in productivity. Be that as it may, presently just 2% of the populace in the United States are ranchers, implying that just 2% of our populace produces for the entire country. Despite the fact that this rate is incredibly low, it shows that we are agronomically solid. Considerably different nations of the world rely upon our horticulture. US trades about 40% of what we produce. US has developed from a general public of agrarian to a general public of farming. US has improved in horticulture after some time and has caused it to get more grounded and thusly a pioneer. Taking everything into account, United States is the world head in agribusiness because of the individuals, the land, administration, advancement and quality, United States has the capacity keep up all characteristics and furthermore improve. References: The Agricultural Transformation-Dan Hillel Mesoamerican Origins R. Douglas Hurt Advancement of Agriculture in the United States layout gave by AG 101 Folklore Essays .

Great Gatsby Essay -- essays research papers fc

F. Scott Fitzgerald's 'The Great Gatsby'/Gatsby's Desire for Daisy investigating why Gatsby had such an over the top want for Daisy. The essayist implies that Gatsby started by seeking after a perfect, not the genuine lady. Truth be told, he was unable to perceive the sort of individual she had become since they last observed one another. Gatsby lives in a fantasy world and Daisy is a piece of that fantasy. As the novel advances, nonetheless, Gatsby's sentiments change. Book index records Fitzgerald's The Great Gatsby : The Role of Nick Carraway as a Character in the Novel In 5 pages, the creator examines F. Scott Fitzgerald's 'The Great Gatsby,' and the job that Nick Carraway played as a character in the novel. While deciding the job of Nick Carraway as he was utilized in this book, one must consider that he is a differentiation to Gatsby. One is dim and the other is light. One is rich and materialistic. The other is illustrative of America's conventional good codes. Scratch Carraway is the novel's principle impetus, for recounting to the story, yet in addition for demonstrating the contrasts in the public eye. Without Nick Carraway's impact, 'The Great Gatsby' would not have almost a similar impact. No extra sources are refered to. Filename: Pcfsfnc.doc F. Scott Fitzgerald's 'Extraordinary Gatsby'/Corrupt Vision Of The American Dream This 5 page report talks about F. Scott Fitzgerald's 1925 novel 'The Great Gatsby' and clarifies the manners by which Gatsby presents a wound and adulterated variant of the 'incomparable American...

Othello - Character Analysis Of Iago Essays - Othello, Iago

Othello - Character Analysis of Iago In William Shakespeare's Othello, the character Iago is, at any rate in my perspective, the fundamental and most intriguing character. Iago is in basically every scene in the play, and has his hands in practically all doings inside the play. Iago is genuinely one of the best villans in writing. Iago is seen by all in the play, with the conceivable special case of his better half, as a legit and trust commendable man, which couldn't possibly be more off-base. Iago plays all the characters in the play like manikins. He plays Cassio into an admission of his dealings with Bianca to make it appear as though he is talking about Desdamona, and into planting the hanky onto Cassio without making himself look dubious. Iago additionally plays Roderigo into giving him cash and leaving the image so Iago can accomplish his work. Perhaps the best work Iago does is on his chief, Othello. Iago plays Othello consummately. He plays on each man's shortcoming, desire. Othello takes each word Iago says like it is truth, and at whatever point he questions Iago, Iago's snappy brains keep him revealed by weaving every one of his untruths together. Iago was equipped for bringing Othello into executing his own significant other without ever have Othello question his better half or any other person. In Othello's brain, Iago was so trust commendable that anybody elses word would not be truth, and the entirety of Othello's confidence was set in Iago. Iago calls himself trust commendable in Act II Scene I Line 196, Iago is cited saying As genuine as I am, which everybody knows is a long way from valid, however Iago is as yet fit for bringing Othello. Othello has faith in the genuineness of Iago untill the dramatic finish of the play. Othello and Iago's better half, Emilia, contend in Act III Scene II Lines 142-161. Othello s ays: ?Ask thy spouse else. O, I were cursed underneath all profundities in damnation yet that I proceeded upon just grounds to this furthest point. Ironicly Othello damns himself here, in light of the fact that a couple of lines later, Emilia censures Iago for Desdamonas passing by saying: In the event that he state so[Desdamona undermining Othello] may his malicious soul decay a large portion of a grain a day! He deceives th' heart. Emilia censures Iago for the sum total of what that has been done to Othello and Desdamona. Emilia is the one in particular who realizes that Iago is to be faulted. At the point when she uncovers Iago to Othello, Othello sends for Iago alongside Cassio, Gratiano, Montano, and Lodovico. At the point when Iago learns he has been found, he goes to genuine cowardness and cuts his own better half, commiting a similar sin as Othello. Othello doesn't murder Iago, he says that Iago is the fallen angel, and the villain can't be executed. One must ask why Othello doesn't execute Iago angrily, yet he should be lauded for his activity. Othello at that point executes himself and continues to bite the dust close to Desdamona and Emilia. Iago is left as a detainee of Cassio, to live with what he did. This story is the story not of Othello, but instead the narrative of Iago and how he plays different characters, which is the explanation Iago is one of writings most noteworthy villans.

Business Law International Concession Superstore

Question: Portray about the Business Law for International Concession Superstore. Answer: Presentation ALDI has been a top universal concession superstore chain with around 10,000 stores in 18 nations, and have an anticipated income of in excess of 50 billion. It has been situated in Germany, despite the fact that the chain was begun by the siblings Kari and Theo Albrecht in 1946 when they assumed control over their moms store in Essen which had been in presence since 1913. It has been estimated as one of the universes biggest by and by possessed companies (ALDI, 2016). Being the countries minimal effort basic food item head, the store model was based on creating efficiencies at each level from store working, to assignment, to the specific products that they stock. Business laws and its pertinence on the Organization Business law incorporates a few guidelines which have been imposed on various business associations organizations like, office work law, contract law, copyright, and so on. The Corporation has been a business association that works in the field of retailing and hence in this circumstance the significant guidelines would be founded on selling and buying of the items that the association proposes to offer to its shoppers. A portion of the relevant laws which would be required on the association being a provider were: Shopper Guarantees Act The Consumer ensures Act concedes an individual a benefit if the products they buy or were provided by an exchange were deficient and don't meet any of the ensures which were given under the Act (Consumer Protection, 2016). Notwithstanding these benefits, customers may likewise affirm for any reasonably unsurprising extra misfortune that aftermath from the first trouble (Consumer, 2016). Reasonable Trading Act The Fair Trading Act supports exact client information before the purchaser buys the great and profit the administrations and item security, among different points. It relates to all the exchanges, callings and endeavors (Consumer, 2016). The Act protects the purchaser against being misleaded or treated in a nonsensical manner by the merchants or shops and it additionally limits the questionable and inconsistent conduct, unsupported attestation, produced exhibit and some out of line exhibitions. Loads and Measures Act As indicated by the Act the business partnerships ought not offer less estimation of the merchandise to the customers than what they compensated for. Doing so would then cause the business association to be legitimately at risk. In this way, a customer has the freedom of having a mind the weight and estimation of the items which have been bought by them (Government of South Australia, 2016). Due Diligence Due Diligence has been characterized as the strategy which gives the customer with an exhaustive approaching into their own fulfillment point (Queensland Government, 2016). Additionally, when an individual buys a perceived business it would be basic that the individual for example the potential proprietor of the exchange would examine the business top to bottom. This procedure would be expressed as Due Diligence (William Buck, 2016). The procedure incorporates leading an investigation into the gainful, money related and appraisal relationship of the point. It fixates on the territories which were perceived as being of a central ramifications to the buyer. Achieving due ingenuity would be a best route for a person to audit the value of an exchange and the threats related with buying it. It concedes an individual a benefit to access to the major and mystery information about the business, frequently inside a timespan referenced in a letter of goal. Appropriateness of Other laws There have been different legal issues in the company yet the most suitable ones incorporate the licensed innovation laws, Australia business and condition laws and Australian fare and import laws. Due Diligence was additionally fitting in the business conditions where there was a buy and offer of items and dealings including associations, merger and securing of collaborate organizations. The partnership ought to likewise seek after the Australian laws and guidelines so as to work its business in effective and proper way. Licensed innovation law protects the organizations and urges development so as to progress forceful advantage in the commercial center. It additionally contains the methods which ought to be followed for trademark and licenses (Aldi, 2016). The patent Act ensures defend and legitimate benefits so as to limit outsider to use it. Copyright law was proposed to shield and convince organization that supply in their ability and time in making merchandise. The prcised laws ought to be trailed by the company with some opposition guidelines which ensures reasonable exchanging for its purchasers. Australian Consumer law which gives offering safe items to the buyers. The Corporation ought to likewise deliver merchandise according to the laws and guidelines so as to control the activity of the organization. Lawful issues recognized In the past task as of now referenced there were two lawful issues which were liked. The main issue was the demonstration in relationship with the copyright issues which the organization suffered because of its image battle, and the other issue was that the enterprise was suspected to have disregarded its commitment which was related with association (Derose, and Tichy, 2013). ALDI compromised by copyright issues identified with brand battle In 2016, the enterprise encountered a colossal debate as it confronted objection for disregarding copyright of others. In this way, the company went to a capture for a time of over 6 years. According to the investigation which was performed there were a lot of results of the organization has same brand spots. The enterprise was affirmed of damaging copyright of different brands as it facilitated a crusade as Like Brands Only Cheaper which was tantamount to the brands which were there in Australia. According to the Intellectual Property Law, a promotion that has comparative delineation of some different brands regarding sign, plan or defensive material would be held as copyright infringement. Along these lines, numerous administrative specialists considered that the association was responsible for disregarding the copyright barrier of different brands. The association was held at risk for fundamentally three items. For example, Reckitt Benckiser stable, Lindt Chocolate, and Banana Boat sun cream. Encroachment of Partnership Liability The association has in excess of 30 stores in Australia and five focuses in NSW, Queensland and Victoria. It was unsurprising from each store to in any event cause a to continue of 10 million dollars for every year. This doesn't contain the non food bookkeeping gauge. In spite of the fact that the organization was known for its image worth, character and conviction, yet the company was censured over the past for broadening its association risk. At first, the association was recorded as an exchange company which was having compelled risk in organization. The limitation was forced on the activity of the association for having 3400 constrained organizations with the Australian Business Number. Nonetheless, no appropriate information was reachable from the corporate controller. Moreover, numerous specialists likewise observed the organization structure as inconsistent. Hence, consequently there was a significant level of probability that the Regulatory Authority requested breathing life into the corporate shroud of the company so as to comprehend its business methods in a superior manner. End and Recommendations It has been reasoned that as the association has confronted visit legal procedures every once in a while according to the examinations which were performed at the interest of the administrative organizations. It was seen that the association had been dependent upon legitimate asks as and when obligatory. In any case, after these demonstrations which have been built up against the association before however now the partnership attempt to submit to all the moral principles and guidelines that were encased in the Australian law for altering the demonstrations and working of the exchange. By and by, the partnership targets adapting their character by taking care of more focus for withstanding the standards that were aligned with the working of an association. The association puts its inside on its work which it would do so as to recoup their genuineness, supportability, act, risk, and regard. The enterprises rolled out different improvements and have upgraded its past slip-ups which it has done and now puts an inside on enhancement and complying with the moral principles and measures. It has been suggested that the association ought to turn out to be increasingly guarded and cautious about what the organization ought to do and ought not do, as it has done different blunders in view of which it confronted legitimate procedures. The enterprise ought to keep the laws which have been common on each association while it has enlisted under the Australian Corporation Act 2001. The company ought to consent to all the laws which an association ought to accommodate with and ought not enjoy any demonstration which has been outside the appropriate laws if the demonstrations. In spite of the fact that, the legitimate issues which the partnership confronted have opened a path for some open doors for the company, for example, the companies has gotten proactive in its activities and now would go into acts remembering the outcome of doing it. It additionally has made new standard and now follow guidelines which it needed to follow before with the goal that it can develop in future. The enterprise would now need to begin making packs notoriety structure the beginning as it has lost its notoriety by having a legitimate activity against it by which it would need getting and pulling in more shopper in future. In spite of the fact that it would lessen the offer cost in the market however the partnership would remember the past happenings and would not rehash the equivalent later on. References: Aldi. (2016). ALDI: U.S. Terms of Use. Recovered on sixth October2016 from: https://www.aldi.us/

Biography of James K. Polk, 11th US President

Account of James K. Polk, eleventh US President James K. Polk was president during the Mexican American War and the period of Manifest Destiny. Study the eleventh leader of the United States. James K. Polks Childhood and Education James K. Polk was conceived on November 2, 1795, in Mecklenburg County, North Carolina. He moved with his family at ten years old to Tennessee. He was a wiped out youth who experienced gallstones. Polk didn't start his proper instruction until 1813 at 18 years old. By 1816, he entered the University of North Carolina and graduated with distinction in 1818. He chose to enter governmental issues and furthermore was admitted to the bar. Family Ties Polks father was Samuel, a grower and landowner who was likewise a companion of Andrew Jackson. His mom was Jane Knox. They had been hitched on Christmas Day in 1794. His mom was a firm Presbyterian. He had five siblings and four sisters, huge numbers of whom passed on youthful. On January 1, 1824, Polk wedded Sarah Childress. She wasâ well-taught and rich. While first woman, she prohibited moving and alcohol from the White House. Together, they had no youngsters. James K. Polks Career Before the Presidency Polk had concentrated on legislative issues as long as he can remember. He was an individual from the Tennessee House of Representatives (1823-25). From 1825-39, he was an individual from the U.S. Place of Representatives including filling in as its speaker from 1835-39. He was an incredible partner and supporter of Andrew Jackson. From 1839-41, Polk became Governor of Tennessee. Turning out to be President In 1844, the Democrats were making some troublesome memories getting the important 2/3 of the vote to assign a competitor. On the ninth polling form, James K. Polk who had just been considered as a Vice Presidential applicant was named. He was the main dull pony candidate. He was contradicted by Whig competitor Henry Clay. The battle revolved around the possibility of extension of Texas which Polk bolstered and Clay restricted. Polk got half of the well known vote and won 170 out of 275 discretionary votes. Occasions and Accomplishments as President James K. Polksâ time in office was significant. In 1846, he consented to fix the limit of the Oregon region at the 49th equal. Incredible Britain and the United States differ about who asserted the region. The Oregon Treaty implied that Washington and Oregon would be a domain of the U.S. furthermore, Vancouver would have a place with Great Britain. Quite a bit of Polks time in office was taken up with the Mexican Warâ which endured from 1846-1848. The addition of Texas which had occurred toward the end of John Tylers time in office hurt relations among Mexico and America. Further, the outskirt between the two nations was as yet questioned. The U.S. felt that the outskirt ought to be set at the Rio Grande River. At the point when Mexico would not concur, Polk arranged for war. He requested General Zachary Taylorâ to the territory. In April 1846, Mexican soldiers terminated on the U.S. troops in the zone. Polk utilized this to push forward a Declaration of War against Mexico. In February 1847, Taylor had the option to vanquish the Mexican armed force drove by Santa Anna. By March 1847, U.S. troops involved Mexico City. Simultaneously in January 1847, Mexican soldiers were vanquished in California. In February 1848, the Treaty of Guadalupe Hidalgoâ was signedâ ending the war. By this arrangement, the fringe was fixed at the Rio Grande. By this implies, the U.S. picked up California and Nevada among other present-day regions adding up to more than 500,000 square miles of land. In return, the U.S. consented to pay Mexico $15 million for the region. This understanding decreased the size of Mexico to half of its previous size. Post Presidential Period Polk had declared before taking office that he would not look for a subsequent term. He retired toward the finish of his term. In any case, he didn't live much past that date. He kicked the bucket just three months after the fact, potentially from Cholera. Authentic Significance After Thomas Jefferson, James K. Polk expanded the size of the United States more than some other president through the procurement of California and New Mexico because of the Mexican-American War. He additionally guaranteed Oregon Territory after a settlement with England. He was a key figure in Manifest Destiny. He was additionally an incredibly viable pioneer during the Mexican-American War. He is viewed as the best one-term president.

Malnutrition in the United Sta essays

Lack of healthy sustenance in the United Sta articles Individuals will in general partner lack of healthy sustenance with poor nations; be that as it may, hunger is existent in many creating nations, similar to the United States. 33% of the considerable number of youngsters in these nations experience the ill effects of hunger (Freedonation.com). Hunger can be characterized as poor sustenance due to inadequately adjusted eating routine, flawed processing or use of nourishments. Ailing health is a significant issue for some little youngsters. Larry Brown, an executive of the Physician Task Force on Hunger in America, states in his article Hunger in the U.S. that: ...The youngster once brought into the world is at extensive hazard if satisfactory sustenance is deficient. The human cerebrum grows most quickly from origination until about the age of three. During those years cerebrum capacity can be weakened by healthful hardship. Different dangers are hindering (characterized as tallness underneath the fifth percentile for a given sex and age) and squandering (weight beneath the fifth percentile for age and stature). Moreover malnourished kids are especially defenseless against lead and other natural poisons, which can influence the mind and exacerbate the immediate impacts of lack of healthy sustenance on the childs scholarly turn of events. (Earthy colored 114) Because of the way that a childs mind builds up the most during the initial three years of his life, it is considerable that appropriate nourishment is available. Lack of healthy sustenance in the United States is an enormous undertaking that numerous individuals neglect to perceive. The Government and people should find a way to illuminate this issue of unhealthiness in the United States. Malnutrition exists for a large number of reasons with in the U.S.; be that as it may, the essential driver of this issue in the United Sates is finical; The Lack of cash may make it hard to buy a satisfactory eating regimen. The wealthiest individuals in the United States eat eleven fold the amount of meat and seven fold the amount of fish as the least 20% of individuals in the United States (Freedonation.com). On account of the absence of ... <!

Governance In The Modern Global Corporate Environment Finance Essay - Free Essay Example

Over a past decade, the corporate governance has been considerably spotlighted by business people all over the globe. One of the reasons which sparked the anxiety on corporate governance is the collapse of one of the largest companies in the USA, Enron. The massive company was filed for bankruptcy in December 2001. The failure of corporate governance was claimed to be the cause of Enron ¿Ãƒâ€šÃ‚ ½s collapse (The Journal of Corporate Citizenship, 2002). Most of all aspects of Enron ¿Ãƒâ€šÃ‚ ½s corporate governance were identified as a poor level. From the top, number of people who were in the board of directors, were indicated to be willing to perform the deception. The failure of internal auditors, who did not execute its function effectively, caused a gap for the financial director and chief executive to make fraudulent accounts for the firm (Solomon, 2004). This corporate scandal has stimulated both local and across borders firms to earnestly examined their own corporate governance mechanism whether they had the similar issue like Enron, in order to fix before it was too late. Moreover, the policies to prevent further failures were developed by the number of regulators all over the world after the Enron saga (Veneeva, 2006). The downfall of Enron demonstrates that even the compa ny with a good financial result still might be bankrupt if the solid and effective corporate governance mechanism is absented. This essay is going to discuss about the corporate governance in globalization i.e. the definition of corporate governance, the important of effective corporate governance in globalization, the demonstration of corporate governance in globalization, and the explanation of why corporate governance structure is nearly similarly across countries. There are a number of definitions of corporate governance. The definitions can be classified into 2 main views. On one hand, the narrow view, defines the corporate governance as structure and relationships between a firm and its shareholders. Solomon argues that the corporate governance is  ¿Ãƒâ€šÃ‚ ½the process of supervision and control intended to ensure that the company ¿Ãƒâ€šÃ‚ ½s management acts in accordance with the interests of shareholders ¿Ãƒâ€šÃ‚ ½ (Solomon, 2004, P.13). On the other hand, broad view, the stakeholders are taken into account of corporate governance. In more inclusive way, broad view explains that the corporate governance is the system of structure and relationship between firm, its shareholder and also wide range of its stakeholders which including employees, suppliers, customers, creditors, communities, wider society, even the natural environment and so forth by encompassing laws, regulations and voluntary private sector practices tha t enable corporation to create the profit, attract capital and meet both legal standards and societal expectations.  ¿Ãƒâ€šÃ‚ ½Corporate governance is concerned with holding the balance between economic and social goals and between individual and communal goals. The aim is to align as nearly as possible the interests of individuals, of corporations and of society ¿Ãƒâ€šÃ‚ ½ (Waring, 2004, P. xii). Nevertheless, both narrow and broad views have the identical framework of corporate governance which is about how the company is managed, monitored and controlled in extent of balancing the interests and goals of all shareholders and stakeholders who can be affected by the company ¿Ãƒâ€šÃ‚ ½s activities. Corporate governance requires a transparency and disclosure from board of directors, managers and accountancy to report on the performance of the firm. Solomon (2004) also suggested that corporate governance requires a system of checks and balances both internally and externally in order to guarantee that the firm dispenses its accountability to all parties of corporate relations and also to ensure that the business transactions are performed in a social responsible way. The good and effective corporate governance system is substantially significant in present business globalization. Various modes of benefit are returned to the firms where effective corporate governance structure is adopted. Mohamad (2004) argues that the quality of corporate governance is crucial as it directly influences on efficiency of firm ¿Ãƒâ€šÃ‚ ½s assets utilization, capability of the firm to attract low-cost capital, firm ¿Ãƒâ€šÃ‚ ½s ability to satisfy the expectation of society and also firm ¿Ãƒâ€šÃ‚ ½s overall performance. The optimal utilization of the firm ¿Ãƒâ€šÃ‚ ½s assets and resources is able to be guaranteed by effective corporate governance. Under an effective corporate governance structure, debt and equity capital are conducted to be invested in the most efficient way for the production of both most demanded goods and services along with those with the highest rate of return (Mohamad, 2004). Moreover, it is more likely that incompetent manager, or who fails to utilize the resources and assets efficiently are replaced (Gregory, 1999). As the assets and resources of the firm are ensured to be utilized efficiently, consequently, the effective corporate governance supports the firm to attracting the low-cost capital by enhancing both internal and external borders investor confidence. McKinsey Report (2003) found that investors would willingly to pay a premium from 13 percent to 30 percent varies by region for the companies they believed had greater corporate governance. To be successful in long-term of business, the firm has to obey with the set of laws, regulations and also the societal expectations where it is operated. Numerous companies intensely comply with the corporate social responsibility practices and contribute to society (Stanwick, 2008). Although, some companies demonstrate the failure of corporate responsibility and corporate governance by attempt to make a profit from child labor or any other act that not take environment and society into account. This also exemplifies the failure of government to initiate the framework to conduct the corporate responsible for the issues that significantly impacts to society in wide range. The combination of efficient use of assets and resources, enhanced approach to low-cost capital, extended satisfaction of societal expectations and together with the overseeing on management people which are delivered by the effective corporate governance, leads to the enhancement on overall performance of the firm. The link between company overall performance and effective corporate governance makes significant intuitive sense (Ararat, 2007). Furthermore, by implementing effective corporate governance practice at a national level, foreign and local investors are likely to pay a premium for investment in that nation (Stanwick, 2008). As such, effective corporate governance leads to the improvement in financial stability markets and fosters the country to attract further financial investments. This is apparently strong incentives for both corporations and governments all over the globe to considerably make an effort for better governance. The governance practices vary across countries in accordance with their legal framework, financial system and the corporate ownership structure (Davies, 2008). Corporate governance can be broadly categorized into two main models which are outsider model and insider model. The outsider system is identified by distributed of firm ¿Ãƒâ€šÃ‚ ½s equity among a great quantity of outside investors. Bhasa (2004) suggests that USA and UK obey the outsider system. This system also involves with the separation of ownership from control. Main benefits of this system are explicit transparency, powerful investor protection. However, the desire of management and shareholder are potentially not aligned. In contrast, the insider system is existed where ownership is intensified with shares being owned by families, banks or state. This system provides the alignment of interests among management and shareholder, and also protects the firm from hostile takeovers. Nevertheless, drawbacks of this sys tem are weakness in investor protection, lack of transparency, abuse of power and funds. The insider system is existed in most countries of Continental Europe and East Asia (Hackethal, 2005). However, in recent years, important changes have been certainly appearing in corporate governance system. Globalization and rapid improvement on information technology has been resulting in enhancement of interconnection between people across countries which also present the opportunity to the firms for seeking the profit internationally. Multinational company can possibly gain a benefit across borders whether by international trade, foreign direct investment and etc. To run the multinational company, most of the firms have to access the capital markets of foreign country where they invested. By doing so, the firms are required to comply with the laws, regulatory and practices of that market. This demonstrates the convergence of corporate governance. Yoshikawa (2009) argues that the convergence of corporate governance trend has been growing continually in recent years. Three factors has been indicated to be the drivers of convergence of corporate governance which are the internationa l integration of financial markets, product market integration, and the spread of codes of good governance and harmonization of accounting rules. The international integration of financial markets is a main contributor of globalization process for driving changes in corporate governance practice. In the last two decades, international financial markets have become more integrated with remarkable implications for corporate governance (Davis, 2003). There are many forms of financial market integration e.g. listing by firms from one country in the stock exchanges of foreign countries, rising of foreign portfolio investment, cross-border mergers and acquisition, and etc. These forms of financial market integration transform the fundamental in the ownership structure of corporations (Yoshikawa, 2009). In recent years, the number of firms which list their share in multiple exchanges across borders has been growing rapidly. Important regulatory and compliance costs have been incurred to the foreign issuers who entering these exchanges (Bell, 2008). Furthermore, firms are engaging in a bonding mechanism and simultaneously transmit to the investors that they are willing to obey with higher standards of disclosure than required in their home country when they decide to list in a foreign market with higher disclosure practices. As a result, such bonding increases the firm ¿Ãƒâ€šÃ‚ ½s share value. Consequently, outcome of the foreign listing is the convergence as a by-product (Yoshikawa, 2009). Furthermore, substantial growth of foreign portfolio investment all over the world has been seen for a period of time. The regular demand of investors is to diversify their portfolio in order to reduce the risk and obtain more liquidity hence foreign investors essentially own small stakes and often trade their shares. Many companies take a lot of effort to attract foreign institutional investors because the resulting demand for the stock can lift up the prices and suddenly increase the value of the companies (Aguilera, 2003). On top of the attracting investors, retaining the existed and potential investors is extremely necessary. Parrino (2003) argues that selloffs by investors can impact the stock prices negatively and upraise the potential of hostile takeover. Therefore, in order to attract and retain the foreign investors, firms must comply with investor ¿Ãƒâ€šÃ‚ ½s expectation of good governance such as disclosure and protection of the rights of minority shareholders. Under the viewpoint of product market integration, corporate governance is seen as a new innovation or technology (Khanna, 2004). In present age of global business, high competition in both domestic and international, adopting of the most innovative practice is essential otherwise the firms possibly encounter the competitive failure. Countries and companies that are applying the under optimal governance practices will be less efficient and will suddenly fail or will have to adopt more efficient elements of governance practice (Yoshikawa, 2009). The spread of codes of good governance and harmonization of accounting rules also drives the convergence of governance system. Number of countries has used the Cadbury Committee report in the UK as a seminal development for similar evolution in their nations (Aguilera, 2004). Once the codes are published, they become an important paradigm for convergence in both local and international, regardless of who is the issuer. Yoshikawa (2009, P. 392) also states that  ¿Ãƒâ€šÃ‚ ½integration in the global economy functions as a transmission belt for the need to innovate and facilitate the transfer of practices across countries ¿Ãƒâ€šÃ‚ ½. When firms decide to list in a foreign exchange, they normally confront with the problems that their accounts are required to be restated based on the standards of that country. Likewise, international investors face the problem of understanding the accounting system in another country where they want to make portfolio investment. The harmonization of accounting standards is addressing these problems (Yoshikawa, 2009). It facilitates the firms in running their business internationally and also enhances the attraction of the investors to make investments.  ¿Ãƒâ€šÃ‚ ½The harmonization of accounting standards can greatly facilitate the process of convergence, mainly through mandating uniform disclosure requirement ¿Ãƒâ€šÃ‚ ½ (Yoshikawa, 2009, P. 392). Many countries are attempting to improve their governance practices to the somewhat similar area as there are a number of benefits. By improving the governance practices effectively which including efficient use of resources, ensure the corporate is in compliance with laws and societal expectation, transparency and disclosure and etc.; the confidence of investors are enhanced as such the corporate can simply access to low-cost capital. Also, when business transaction is occurred between two or more countries, it is favorable to the business where all participants adopting the similar effective governance practices. The similar standards of governance give a transparency and disclosure in a better level by uniform disclosure necessity (Yoshikawa, 2009). Recently, China has made a substantial progress in improving its governance practice based on Anglo-Saxon model (Dujuan, 2009). In 2006, China has changed from the Old Company Law to the New Company Law in order to encourage the investment. The New Company Law led to improve the shareholder rights, especially minority shareholders. In addition, it made a considerable progress in seven areas of corporate governance such as rights of shareholders and rules for shareholders ¿Ãƒâ€šÃ‚ ½ meetings, duties and responsibilities of directors and independence of board of directors, performance assessment and incentive and disciplinary systems, information disclosure and transparency and the role of auditor. The laws, for instance, give the right equally among shareholders and, shareholders shall have the right to protect their interests and rights through other legal in accordance with laws and administrative (Dujuan, 2009). In addition, it also provides how minority shareholder can use their rights in the court. Moreover, it forces the directors and managers to faithfully execute their duties, protect the firm ¿Ãƒâ€šÃ‚ ½s interests, answer to the shareholders and must not use the firm ¿Ãƒâ€šÃ‚ ½s assets or resources or their position to seek personal gain. The board of directors takes the responsibility of appointing competent and removing incompetent management. Under the company law, competition with the company is forbidden (Dujuan, 2009). The improvement in New Company Law conducts the directors, managers to act legally and ethically and also delivers to protection to even the minority shareholders in order to encourage the investment and to gain other business advantages. The New Company Law exhibits the progress in convergence of China ¿Ãƒâ€šÃ‚ ½s corporate governance practice. It has been claimed to be one of the contributors of recent substantial economic growth of China (Dujuan, 2009). This essay exhibits the role of corporate governance in business globalization. The trend of convergence in governance practice is appeared even there ¿Ãƒâ€šÃ‚ ½s still a bit of impediments to convergence completely regarding the differences in legal framework, financial standards and the social norms. But, still, the basic characteristics of effective corporate governance is similarly comprised of protection of shareholder rights, independence of directors, the presence of audit, transparency and disclosure, and remuneration. The firms and even nations essentially require pursuing the effective governance practice which provides a number of business advantages in return. The corporate, where effective corporate governance is adopted, mostly surpasses other companies and has greater capabilities in attracting the investors to support in financial term of the company for further economic and business growth. The effective corporate governance is necessary in terms of controllin g and monitoring company management. It cannot prevent the illegal or unethical activity by management, but it can at least detect such activity before it is too late to be fixed. On the contrary, poor corporate governance mostly leads to the disadvantages of the firm ¿Ãƒâ€šÃ‚ ½s potential and, in worst case; the fraudulent activities might be appeared. Appendix

Study On Quantitative Easing And Krishnamurthy Finance Essay - Free Essay Example

Quantitative easing, also known as large scale asset purchases (LSAP), is a specific monetary policy used by central banks to add to the supply of money by increasing reserves of the banking system. In certain economic situations, such as a low inflationary environment like the one we are experiencing today, targeting a low interest rate is not sufficient to maintain the level of money supply desired by the Federal Reserve, and so quantitative easing is employed. Through the quantitative easing process, the central bank purchases securities-most likely longer-dated Treasury Bonds and mortgage backed securities-in an effort to push longer-term interest rates lower and expand the money supply by making it cheaper for individuals to borrow and for businesses to raise capital. This works because the borrower receives about 93 percent more money than the bank holds in reserves (money creation). Krishnamurthy We build on the regression analysis from KVJ to estimate the effect of a purchase of long-term securities via the safety channel. We focus on the safety channel because it appears to be a dominant effect from the event studies. In KVJ, we mainly focus on the effect of changes in the total supply of Treasuries, irrespective of maturity, on bond yields. For evaluating QE, we are interested more in asking how a change in the supply of long-term Treasuries will affect yields. The larger effects obtained from the QE1 event study than the regression approach suggest that changes in Treasury supply have much larger impact on the safety premium in times of unusually high safety demand than they do in average times. Gagnon, et. al, (2010) report that in 10-year equivalents the Fed had purchased $169bn of Treasuries, $59bn of Agency debt, and $573bn of Agency MBS by Feb 1, 2010. The total purchase up to this date was $1.625tn and the anticipated total was $1.725tn. We scale up the n umbers up to Feb 1, 2010 by 1.725/1.625 to evaluate the effect of the total purchase. Important (Theoretical) Takeshi Kimura and David Small (2004) (Finance and Economics Discussion Series Divisions of Research Statistics and Monetary Affairs Federal Reserve Board, Washington, D.C. Quantitative easing was expected to have three effects on financial markets. First, it would lower longer-term interest rates because the Banks announcement that the new policy regime would be maintained until CPI inflation became zero or more would lower expected short-term rates. If this so-called commitment effect also contributed to diminishing uncertainty over future short-term interest rates, term premiums also would be reduced and hence longer term rates would be lowered further. 8 Such announcement effects would tend to be reinforced by the observed increase in current account balances. Second, the abundant provision of liquidity would make money market participants feel more secure about the ongoing availability of funds, thereby preserving financial market stability. Uncertainties about conditions in money markets might, at times, lead to elevated demands for liquidity, boosting the rates of illiquid assets relative to those of liquid assets. In such circumstances, the elevated levels of current account balances would reduce the probability of a liquidity shortage, and consequently would reduce liquidity premiums. Third, an open market operation by a central bank would change the relative supplies of assets held by the public and, thereby, may lead to changes in the relative prices of assets. This so-called portfolio-rebalancing effect has been described as follows: Suppose that a representative bank holds multiple assets and rebalances its portfolio so as to maximize its objective function under the constraint of containing overall risk amount below a certain limit. For example, if we assume that a utility function with given absolute risk aversion, the expected return and its variance from the portfolio become explanatory variables of utility. Risk constraint crucially depends on the capital position of the bank. Then, let us think of a case where, as a result of the outright purchase of long-term JGB by the BOJ, a portion of the long-term government holdings of the representative bank is converted to monetary base. The reduction on portfolio risk, that is, interest rate volatility risk of government bonds, generates room for new risk taking, and thus part of monetary base should be converted to some type of risk assets. At equilibrium, utility is kept constant by marginally increasing the amount of holding risk assets, and the marginal increa se in the expected profits offsets increased risk. In this rebalancing process, the risk premium of risk asset prices will be decreased. Although quantitative easing supported that improvement of Japans economy, the Banks drastic quantitative easing has not been quite strong enough by itself to boost the economy and prices, as stated by Governor Fukui (2003). In particular, it did not seem to have a strong beneficial effect on the corporate financing environment, such as on corporate bond rates. (See Figure 3 (panel 1).) The weakening role of banks as financial intermediaries made it especially important for easier monetary policy to benefit capital markets. However, the spread between interest rates on corporate bonds and risk-free government bonds declined only marginally after March 2001. And those firms that did feel the benefits of monetary easing were limited to those with high credit ratings. Credit spreads on low-grade corporate bonds rose after October 2001. The prices of other financial assets also did not seem to benefit from quantitative easing. Even after the introduction of quantitative easing, stoc k prices continued to decline until the summer 2003. (See Figure 3 (panel 2).) As for foreign exchange rates, the yen rate against the dollar depreciated rapidly from November 2001 until February 2002. (See Figure 3 (panel 3).) However, this depreciation seems to be attributable not only to monetary easing but also to a change in the economic outlook; while expectations for recovery of the US economy strengthened, uncertainty over prospects for Japans economy intensified, including financial system stability. Thereafter, on net, the yen appreciated. In the context of the Bank of Japans policy of quantitative easing, we have explicitly considered portfolio-rebalancing effects and how they may be affected by the attempts of portfolio holders to diversify business-cycle risk. In this framework, an outright purchase of long-term government bonds does not necessarily reduce the portfolio risk of financial institutions and other private-sector investors and thereby generate room for ne w risk taking as has been suggested. Indeed, the portfolio risk associated with the business cycle may have increased as the BOJs purchases of long-term government debt reduced the private-sectors holding of this asset whose returns are counter-cyclical, If we focus only on the portfolio-rebalancing effects, and neglect the other effects such as the BOJ using quantitative easing to demonstrate resolve to keep short-term rates low, the BOJs quantitative easing may have increased the demand for those JGB substitutes whose returns also are counter-cyclical. But these policy actions may have decreased the demand for assets whose returns are pro-cyclical and thus may have increased the risk premium for pro-cyclical assets. The following chart summarizes these estimation results. Doh (2010) See the paper conclusion Oda, N., and Ueda, K. (2007). The effects of the bank of Japans zero interest rate commitment and quantitative monetary easing on the yield curve: A macro-finance approach. The Japanese Economic Review. We have examined empirically the effects of the ZIRP and QMEP in Japan on mediumto long-term interest rates using a macro-finance model. We tentatively conclude that the BOJs monetary policy under the zero interest rate environment since 1999 has functioned mainly through the zero rate commitment, which has led to reduced medium- to long-term interest rates. More specifically, the commitment has been effective in lowering the expectations component of interest rates, especially with short- to medium-term maturities, while it has been less effective in lowering the risk premium component. In contrast, the portfolio rebalancing effect either by the BOJs supplying liquidity beyond the required level to keep the short-term policy rate at virtually zero (i.e. the expansion of the CAB at the BOJ) or by the BOJs purchases of JGBs on the risk premium component of the interest rates has not been found significant. There is some evidence that raising the target for the CABs has been percei ved by the market as a signal indicating the BOJs greater willingness to carry on RZIRP and has thus enhanced the effects of the zero rate commitment, although this interpretation is subject to further examination. Stroebel, J. C., and Taylor, J. B. (2009). Estimated impact of the feds mortgage-backed securities purchase program. National Bureau of Economic Research. We examine the quantitative impact of the Federal Reserves mortgage-backed securities (MBS) purchase program. We focus on how much of the recent decline in mortgage interest rate spreads can be attributed to these purchases. The question is more difficult than frequently perceived because of simultaneous changes in prepayment and default risks. When we control for these risks, we find evidence of statistically insignificant or small effects of the program. For specifications where the existence or announcement of the program appears to have lowered spreads, we find no separate effect of the size of the stock of MBS purchased by the Fed.

Case Study Mason Surgical Masks - 1465 Words

Module 6 Case1 Chapter 14 Mason Surgical Masks The unique selling proposition of Mason Surgical Masks is that it offers protection from both particulate and gaseous hazardous materials. The unique selling proposition (USP) or unique selling point is an advertising notion first projected as a philosophy to clarify an arrangement in positive marketing movements of the premature 1940s. The USP states that such movements made exclusive proposals to clienteles that persuaded them to change products. Locating one’s USP necessitates some tough work and originality. One way to begin is to examine how other businesses use their USPs to their benefit. This involves cautious investigation of other businesses advertisements and advertising communications. If one examines what they say they retail, not just their merchandise or amenity individualities, one can absorb an inordinate amount about how businesses differentiate themselves from opponents. Occasionally a business concentrates on one specific thing, which also determines the scheme in other areas. That assignment scheme then determined the business s choice of merchandise wrapping so the merchandise did not seem contrasting in the market in which it is sold. Yes I do believe that a Mason Surgical mask is a good name because it states their product in the name. The first stage is to cultivate one’s plan and messaging. The goal, verbiage, and placing will assist guiding one’s identification. If the tag doesShow MoreRelatedMental Illness Refers To A Wide Range Of Mental Health1742 Words   |  7 PagesUnfortunately, even those who believe that mental illness is real, can still view symptoms of psychopathology as threatening and uncomfortable. Such attitudes frequently foster stigma and discrimination towards people with mental health problems. Studies have suggested that stigmatizing attitudes towards people with mental health problems are still commonly held. 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Ocean Pollution Essay - 1181 Words

Everything in this world we use comes from the ocean in some way. The air we breathe, the water we drink, even the products we use day to day, would not be possible without the ocean. Thats why the issue of ocean pollution is so important and needs to be addressed as soon as possible. We depend on the ocean for so much in our life, without it we would surely become extinct. People seem to think that since the ocean is so large and vast, we can dump as much waste as wed like into it and it will never have an effect on us. However, since weve been polluting the ocean as far back as Roman times, the evidence of ocean pollution becoming a major problem is all too clear. There are many different ways the ocean can become polluted.†¦show more content†¦Fishnets improperly discarded into the ocean can also cause major issues, tangling into unsuspecting mammals and fish. According to the Marin Academys Oceanography website, there are over 46,000 pieces of plastic floating in each square mile of ocean off the Northeast coast of the United States, which contributes to the death of 100,000 marine mammals and two millions sea birds yearly. A way you wouldnt expect pollution to be caused is by noise. The pressure from the sounds omitted by ships, sonar devices, oil rigs, and earthquakes can disrupt communication, hunting, migration, and reproduction patterns from many marine animals like whales and dolphins. This can throw the whole system off balance. Air pollution can also cause ocean pollution by being absorbed into the water and contaminating it, and vice versa. Ocean pollution can eventually cause air pollution. Dirt can also spill into waterways from top soil or silt from fields or construction sites, causing endangerment to fish and wildlife habitats. 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The Review of the Study of Philosophy - 1437 Words

The review of The Study of Philosophy 1. Introduction â€Å"All men are ‘philosophers’, by defining the limits and characteristics of the ‘spontaneous philosophy’ which is proper to everyone.† Gramsci said. This kind of philosophy consists of language itself, common sense, and last one is popular religion. (A.Gramsci, 1929-1935 the study of philosophy) It means everyone could be a philosopher in some aspect of our life. For example, people could think about an issue in different ways because of the differences of origin of language, habit, and social environment they are living. It’s no longer possible to define a philosopher as an intelligent or professional person who is working at some particular categories of subjects nowadays. People†¦show more content†¦The obedience is not the only option that you have. You have to figure out what you really need and want, and not just follow the way people have already done before. Therefore, the ability of analysis and criticism is an important factor of building one’s conception of the world. In addition, if people receive all information without considering whether the information is useful or not, you might get a wrong data. For example, Joseph Reagle claims that the information in Wikipedia is lack of the accuracy for readers. (Joseph Reagle, a wikipesia reader) Wikipedia is a platform which is opened free for people to put information on. People are free to edit any data in the wikipedia. There is no clear sign in the webside for you to recognize which information is true, and which one is not. Therefore, the ability of analysis and criticism is very important to pick up information which you look for. Secondly, people cannot understand the philosophy without seeing history and culture of philosophy. Gramsci claimed that if one cannot criticize and make a coherent of an issue from a historical perspective, then the person is failed to be a philosopher. 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This paper outlines decision-making approach for the case study listed below and speaks to the importance of choosing the right approach. Case Study This case study consist of the CEO of Devise Products Unlimited (DPU) wants to implement a new philosophy within the organization, which is the fish philosophy. He has recently asked his management staff to review the book and rollout to their division; however, Thomas did not provide any direction on how this

Fracking An Unconventional Technique For Harvesting...

Fractually Inaccurate Hydraulic fracturing, commonly known and hereby referred to as fracking, has been around for decades- but it seems that it has only recently become a prominent point of contention in our society. Fracking is considered an unconventional technique for harvesting natural gas and oil. Where conventional wells drill straight down and can only collect from more free-flowing deposits, fracking allows for horizontal drilling into shale deposits and uses water pressure to enlarge pre-existing fractures- freeing up otherwise unobtainable fuel. First used by Halliburton in 1949 (Beaver 179), fracking has been credited as having wide variety of economic and environmental benefits. Recently however, it has come under fire as being a dangerous and dirty source of energy. Using the articles â€Å"Should We Frack?† by Bruce Beaver, and Cornucopia or Curse? Reviewing the Costs and Benefits of Shale Gas Hydraulic Fracturing (Fracking),† by B.K. Sovacool, I will eval uate the merits and detriments of the fracking process. By examining its environmental, public health and safety, and economic effects- I will show that fracking is not stable, safe, or clean enough to be considered an effective, long-term source of energy. The most obvious obstacle to fracking becoming a sustainable source of energy is the way in which it contributes to climate change. In his article, B.K. Sovacool cites a study which states that 50 percent of natural gas wells that were inspected in QuebecShow MoreRelatedFracking : The Economic And Environmental Effect Of Hydraulic Fracking1165 Words   |  5 PagesFracking Fracking, a technique used to extract natural gas and oil from the earth s subterranean rocks, is by no means a new thing. As the United States strives for energy independence, the number of wells produced by hydraulic fracturing has increased substantially. This method of harvesting natural gas and oil may contribute to pollution and has become a controversial topic. It is important to understand the pros and cons of fracking before drawing conclusions. Analyzing the economic and environmental

Computerized Payroll free essay sample

Nowadays all the establishment are becoming modernized, they use modern technologies to make their transaction fast, easy, and accurate in order to avoid waste of time and for the sake of safety and security. It also helps human to solve and understand complex problem and analysis such us the computational needs of human. Especially to business establishment or corporation processing enormous data and complex transaction. Payroll is an example of a complex transaction because it is a critical business operation dealing with numerous accounts and produce plenty and confidential files. Payroll is encompasses every employee of a company receives a regular wages or other compensation due to each. Applying manual procedure on a payroll transaction involving the vast beat answer in that problem would be computer because computers can simulate enormous data and can process complex transaction in a fast and efficient way. It can generate numerous accounts and data accurately. A computerized Payroll System will not only provide accurate calculations and fast process of Payroll transaction but it will secure data through security implementations and accordingly arrange files provided by a well-designed database that will produce a paperless environment. Conceptual Framework Every employee needs to be paid for the services he provides. For this to happen, the employer must have a payroll system in place. Without it, chaos occurs, as employees will become upset if their checks are inaccurate (or worse, if they dont get paid) due to a haphazard payroll structure. So obviously, there are benefits to be derived from using a payroll system. A payroll system is the method used by payroll professionals to pay employees for their services. Regardless of the type of system used, there are basic INPUT PROCESS OUTPUT Feedback Figure1. Computerized Payroll System Conceptual Paradigm As shown in the Figure 1. In the previous page the manual payroll operation of A ‘Venture Marketing Corporation encounters problems and inconvenience. In order to solve these, the researchers analyzed the problems, conducted informal interview and survey from the employees and talents gathered information. The output of the study and investigation conducted by the researchers is the Proposed Computerized Payroll System. This covers the regular employees. Statement of the Problem This study aimed to find out the features considered in developing a Computerized Payroll System of A ‘Venture Marketing Corporation. Specially, it sought answers to the following questions: 1. What are the advantages of the proposed system? 2. What are the conribution of the Proposed Computerized Payroll System to company? 3. How is the user acces to program in the terms of the folowing: a. Reliability b. User-Friendliness c. Accuracy d. Speed e. Security Scope and Limitations The study covered the designing of the system that would improve the quality of service rendered by the A ‘Venture Marketing Corporation. This study included the making of more efficient system in the sense of handling their data and modernization of employee list. The study was limited to the selected Employee List. The selected employees are fifth teen (15). Significance of the Study Accounting Department – Since the accounting department who compute and record the salary of the employee, using the system will enable them to do their task faster and more accurate. Employee – This study will accurately compute the salary of their regular employees. This includes the deductions, gross pay and net pay. This will provide an excellent service due to faster and more accurate transactions. To the Company – This study will make the company to become more competitive. It can give them confidence because the use of a modern tool such as computerization will help them in running their business more efficiently. Definition of terms Reliability – it is likelihood of a computer system for device-continuing of function over a given period of time and under specified conditions. User-friendliness – it is the attribute of the system, which allows easy interaction between the user and the software. Accuracy – the condition or quality of being true. Speed – it is the capacity of handli9ng and processing data in easier time. Security – securing the data of the researchers. CHAPTER 2 Review of the Literature LOCAL LITERATURE The success of any business, large or small, chiefly depends on the ability and efficiency of the person in its role. People are hired to do the jobs to attain the objectives of the business. People make use of many, materials, and machines to produce goods and render services. Jobs differ and require a wide variety of skills, knowledge and ability. (Ong. 2004) According to Esquinda (2004), the system should be capable of producing reports even at short notice. The time spent for data gathering and record producing reports even at short notice. The time spent for data gathering and record counting will be much reduced by computerization to report generation should at most take three minutes per reports. All data into the system should be accurate to ensure that all information being produced are reliable and can be use will be manifested in the accuracy of the output of the system generates. Hence, the reports produced by the system; especially the statistical produced per year. For example, there should be no instance of error. Jollibee Foods Corporations was cited as â€Å"Asia’s† Most Admired Companies by Asian Business Magazine. Top Company’s since it is regarded as in the Philippines and one of the number one retail and Customers Companies in Asia; therefore it is operates the largest fast food chain in the Philippines, which is Jollibee. It is reported to have annual revenue of P198 billion on December 31, 2000; it now owns and franchises approximately 150 restaurants under the Jollibee, Greenwich, Chowking and Delifrance brands. According to Mr. Ernesto Tanmationg, Executive Vice President of Jollibee, â€Å"The computer software has the functionality and features that will help Jollibee achieve its goal to improve customers service, increase sales and reduce coasts†. Also, Mr. Norman Tsui a Sweda’s Chairman and Executive stated â€Å"We are extremely pleased that Jollibee has selected Companies for its restaurants. A number of restaurants operations, both multinational and regional, have incorporated Companies as integral parts of its successful system strategies. Mr. Ricardo M. Harina, stated that database is an organized collection of information, such as the list of names, addresses and sales transactions. The present study in like manner process data in terms of sales and stock inventory. Alcuaz (1988) said that the use of computer could increase efficiency, enhance productivity, create competitive advantage, and improved profitability. Computer helps increase the productivity of people. This is true whether they are working alone or working with other within a formal organization such as business cooperative. The state of the computer industry in government is described by William Torres in the following statement. â€Å"We anticipate that as a result of the government initiative, computerization in government will move into high gear†. (Manila 1984) FOREIGN LITERATURE The global business economy operates tear-round, without regard to time, location, geographic, boundaries, language, or culture. For any business to succeed, it must create a technology platform and infrastructure that operate on the same way. This has given rise to the notion of ubiquitous computing- computing and technology support anytime, anywhere, with access to all needed information and all business partners always, both internal and external to the organization. Ubiquitous computing is not so much the technology; it is a concept about the technology, stressing that technology should enable you work anywhere and anytime. To support the trend toward ubiquitous computing the concepts of decentralized computing and shared information are very important. According to James O’ Brien. â€Å" In the developed countries, the computer is being utilized at its maximum capacity. They are getting the fields. Names of data fields and the type to be stored in each field are identified in the structured of the database. (Database III plus Handbook, p. 9). Laudon (1998) stated in their book, â€Å"Powerful computers software and networks have helped organizations become more flexible, eliminate layers of management, separate works from location, and structure work flows, giving new powers both to line workers and management. An effective information system is provides users with timely; accurate and relevant information is stored in computer files. When the files are properly arranged and maintained, users can easily access and retrieved the information they used†. Neil Graham stated that today, computers are almost everywhere. Small businesses have their own computers. Many professionals like doctors, lawyers, and engineers use computers in their field of works. Access to computers is not only relevant issue in the proposed system. The design of the user interface will be widely accepted by prospective users. Edward Yourdon, in the books â€Å"Modern Structured Analysis â€Å"said, â€Å"Your system should request inputs and produced outputs in consistent fashion. This is particularly true for system where the users can enter several transaction several displays†. (p. 393) Likewise, Sheridan C. Briggs Jr. also stated that â€Å"Computer-based† records are faster and much more accurate than manually based records. When a computer records is supposed to be added accurately and the computer has been correctly programmed, the record is added correctly†. (Biggs, The Changing Economics of Public Accounting Profession†1987) LOCAL STUDIES Cagayan De Oro City Hall Computerize Payroll System The City Accounting Department has introduced an upgraded computerized payroll system for permanent employees in a bid to improve its services and maximize resources. â€Å"This project, which was conceived two years ago, basically aims to improve our services particularly in the processing of payrolls for permanent employees,† City Accountant Wilma Polley-Rugay told payroll in-charge of the different departments and offices at City Hall during a briefing and orientation on the concept of the one-month payroll system held Friday last week at the City Council session hall in Cagayan de Oro City. With the added features of the new computerized payroll system, Rugay hoped that the preparation, processing and payment of payroll system to permanent employees would be hastened and fast-tracked. Rugay stressed that the adoption of the one-month payroll system is also beneficial, not only to the City Accounting Department, but also to the payroll-in-charge as it would save time, energy and resources. â€Å"Employees who handle payroll preparation and processing can now attend to other office needs and concerns as the new payroll system will lessen their workload,† she added. Under the new payroll system, preparation and processing of payroll, which reflects the accrued amount payable every 15th and 30th day of the month, is done only once. Unlike the time-consuming old payroll system, preparation and processing of payroll is done twice a month covering the first half and second half of the month. It may be recalled that Mayor Constantino Jaraula ordered last week the adoption of the new computerized payroll system which is expected to take effect starting the month of October (www. misamisprobe. wordpress. com, 2007). Computerized Payroll System of Department of Health (DOH) The Computerized Payroll System is a window based program especially designed to facilitate and simplify the monthly preparation of general payroll and related reports such as Standard computerized payroll system for use in all DOH offices. It allows faster and more accurate computation of monthly gross income, deductions and net salary, less-resource-consuming generation of General Payroll and other payroll related reports and security and integrity of payroll data and information. The features of computerized payroll system of DOH are graphical user interface interactive and menu-driven program, systematic maintenance and retrieval of employee records. It is flexible as it provides options to include additional fields for other compensation and deductions unique to an office or unit and could do automatic computation of monthly net income, GSIS, PAG-IBIG, Withholding Tax and other deductions, Y2K compliant, Fast and easy generation of the General Payroll and all other payroll related reports which include Monthly reports like GSIS and PAG-IBIG remittances, Denominations Report and Leave Credits Report and annual Year-end Tax Reports. It has password security to ensure the integrity of data. General payroll reports such as Payroll Summary sheet, Pay slip, Leave Credits Report, Withholding Tax Statement (W-2), BIR Remittance Reports, GSIS Remittance Reports, PAG-IBIG Remittance Reports, Other User-defined Reports (PERA, ACA, PNB, etc.. ) could be generated by this system. (www2. doh. gov. ph). Infinitech PAYROLL Philippines is a powerful client-server based Payroll system basically designed to fit any type of business in the Philippines, complete with the government features deduction such as SSS, Pag-ibig, PhilHealth and tax tables. It helps the business process and maintains all payroll related reports. Now with Infinitech Payroll System, submission of monthly, quarterly and year-end government mandated contribution is just a matter of mouse click and the product will definitely give infinite and flexible features that will fit any operation. Antonio Ballesteros Jr. in this study of System Analysis Design, â€Å"There are more companies that rely on manual system because the software they’ve been using is not actually suited in the services they deliver or it does not support the needs of their company†. (Ballesteros,2001 pp1-2). Balleza et. al. (2002) stated in their study that the advent of computer changed the way other people. Generally, computers made man’s execution of his job easier with just a push button, complicated task are accomplished with ease and within a very short time. Use of computers also increased productivity by maximizing accuracy and efficiency. Balleza idea was relevant to the present study because it emphasize that the computerization make processing of data easier and the same idea that this study wants to pursue that the proposed Computer Based Marketing System of Unlimited Drinks Inc. , Chowking, Sta. Ana make its processing of data easier and faster. On the present study, users were encouraged to rely on the proposed computerized system for it suited their needs promoted good services with more advantages in proposed system. A study done by Mustafa (1990) dealt with the computer marketing management of the selected customer goods manufacturing companies. (Unpublished Master’s Thesis Adamson University, 1990). Foreign Studies Titus Information Payroll System Payroll System designed to produce payroll checks with appropriate withholdings, benefits, allowances, and deductions for employees in multiple companies, departments, and/or sub-departments. It has been designed to handle up to 1,000,000 employees in 100 companies, 1,000 departments in each company, and 36 sub-departments in each department. Some of the features and benefits of the Payroll System are multiple cost centers for payroll reporting, will handle special non-taxable benefits for ministers, flexible withholding capability, ability to split payroll expense between different cost centers, complete governmental reporting; FICA, FUTA, SUTA, Workmans Compensation, W-2s, and 1099s, Payroll check reversal, One check capability, Salaried, hourly, and contract employees in the same payroll run, Combined processing for weekly, bi-weekly, semi-monthly, or monthly, Taxable and non-taxable benefits and deductions, Multiple hourly rates for each employee, General ledger interface, Check list UFD file for check reconciliation, Extensive personnel information for each employee, Accrual of sick, vacation, and holiday hours, Flexible federal, state, and local taxation, Multiple company, department, and sub-department capability, Flexible benefit and deduction capability, Easy federal, state, and local tax table maintenance, Split income over multiple companies, departments, sub-departments, Payroll accrual/reversal capabilities, Time card data entry function, Special message function for printing on check stubs. (Www. titusinformationsystems. com) Canadian Payroll System Sage Accpac Canadian Payroll is a flexible module that gives you complete control over employee earnings and benefits, special payroll situations and government reporting, ensuring that your companys payroll requirements and personnel policies are accurate to the penny. You can enter or import timecards, enter after-the-fact paycheques, run automatic calculations or even combine all three methods to get your pay data into the system and your paycheques deployed on time. Payroll handles all pay frequencies; multiple work states; unlimited earnings, deductions, benefits and taxes; and other pay factors such as expense reimbursements, accruals and advances. (www. 2020software. com) Zenith Bank Plc. Automated Payroll System Services Payroll is an electronic salary solution designed by Zenith bank to effect fast and timely salary payment to staff of all our corporate clients/customers. Some Features are Client should have a corporate account with Zenith Bank. Client should send the payment schedule electronically in the specified format to the designated Zenith Bank e-mail address. The payment schedule could include payment to Zenith and non-Zenith customers. Where the bank has approved a credit facility in favour of a participating distributor, the distributor would have access to more funding for its business. The account number to be debited and the effective date of the payment must be clearly stated. This must be a letter headed paper from the corporate (www. zenithbank. com). INFONETICS Payroll System The PAYROLL SYSTEM is used to maintain a list of employees’ names, addresses and employment information and is used to interactively calculate and print payroll checks. Employees’ hours are entered and distributed to appropriate Department/cost centers. Annualized tax tables are then used to automatically compute deductions before the check is printed on bank stock. Monthly and quarterly reports are used to prepare tax filings, and provide analytical information. W-2’s can be generated automatically at year-en (www. infonetx. com, 2009). Technology is constantly changing and it is important to make sure the software package is capable of handling the current and future demands of the company. One of the greatest challenges companies face is purchasing software best suited for their business and replacing payroll software can be one of the most challenging. The responsibility for selecting and evaluating new payroll software packages software often time falls on the Payroll or Human Resources Department. Due to improper planning and time constrains, many companies find themselves scrambling to find a payroll software package at the last time minute to satisfy the needs of the company without involving a tremendous learning curve. Professor Osterheld invented the accounting information system which is the system of records a business keeps to maintain its accounting system. This includes the purchase, sales, and other financial processes of the business. The purpose of AIS is to accumulate data and provide decision makers(investors, creditors, and managers) with information to make decision while this was previously a paper-based process; most modern businesses now use accounting software such as UBS,MYOB etc. Information System personnel need knowledge of database management and programming language such as C,C++,JAVA and SQL as all software is basically built from platform or database. (McGraw-Hill,2007). Chapter 3 Research Methodology Study is â€Å"a process of scientific thinking that leads to the discovery or establishment of new knowledge or truth. It is not subjective expression if ideas or opinion. † It has several methodologies to be followed to a conduct a research. Research Design This study use for the probability type of sampling as the researcher have determine specific numbers of respondents who will be included in the sample. The respondent of the study will be the employees (15), employees of the A ‘Venture Marketing Corporation. Respondent of the Study The survey questionnaire and interview will be answer by the: Employee They are the future beneficiary of the study. The researcher did this because the researchers want to help the accounting department of the company to lessen their work in doing the payroll process. Data Gathering Procedures Scientific Method: 1. Precise statement of the problem. 2. Careful attention to detail. 3. Objectively on making observation. 4. Precision in analyzing data and reporting results. 5. Use of mathematical and statistical techniques. 6. Systematic, logical plan for solving problems. 7. Evaluation of result. 8. Readjustment of system to bring it more in lines of objectives. Data Gathering and Instrument In gathering date we use some instrument to accumulate and manipulate data such as much as possible. The instruments we use are questionnaire, observation and interview method. 1. Questionnaire Method Weuse this instrument to gather data by formulating several questions related to inventory system with the space provided for indicating the response to each question, intended for submission to a number of people for reply. 2. Observation Method We based our observation on our experience; usually researcher’s does not rely merely on opinion but also in this case. We can ensure that it can never be opinionated in the part of the result of the research. The pertinent event we experience though there is no objective observation guide use we assume being the researcher does not give only our opinion but also we presumed to be a first-hand information source. 3. Interview Method Another method we use is the interview method where we conduct verbal interaction betweenthe interview or respondents,specifically the unstructred or unstandardized interview in the researcher can modify,repeat,Elicidate the questions asked may follow up the responses of the interviewee without of course deviating from the purposes of the interview. In selecting sample size of population to be asked with our prepared questionaire we uses a sample technique to be our guidline, known as the random sampling. Random sampling is a method of selecting a sample size from universe such that each member of the population has an equal chance of included in the sample and all possible combinations of the size has an equal chance of selected as sample (Weirsma , 1975). Because through this, it can gives every members of the population to be a sample. Abiding also with theire principles, which are equi-probability and independence. Equi-probability means that every member of the population has an equal chance of being include in sample. Independence means that when one member selected for the sampling this should not affect the chances for the other members getting chosen. Statistical Treatment of Data The following statistical tools are to be used in the Treatment and analysis of data. 1. Percentage – This is use to establish the profile of the Respondents of the study and answer sub problem. Its formlula is as follows: F P = x 100 N Where P = Percentage (%) F = Frequency N = Total number of Respondents 2. Weighted Mean – The process of finding, which is reffered to as the central tendency was used. The formula is given below: (wx) X = ? N Where x= weighted mean w= weighted factor ?= sum of N = total number of respondents X= score The Researchers will use the â€Å"Likert Scale† to determine the level of the security and safety procedure with regards to the customer’s safety. A criterion that serves as the basis of interpretation of the results of the study was employed for the concept of rounding numeral. RateVerbal InterpretationRange 5Highly Implemented4. 51-5. 00 4Implemented3. 51-4. 50 3Moderately Implemented2. 51-3. 50 2Fairly Implemented1. 51-2. 50 1Not Implemented1. 00-1. 50 System Flow Chart