Example Essay on Management era of HIV AIDS - Free Essay Example

Sample details Pages: 10 Words: 3034 Downloads: 6 Date added: 2017/06/26 Category Management Essay Type Essay any type Did you like this example? Section A: Evaluation of John Ross College Corporate Social Investing (CSI) response using Ten Steps of Weeden Step 1 Replace the traditional notions of corporate philanthropy with a broader concept called corporate social investing The term philanthropy is defined as an altruistic concern for human welfare and advancement, usually manifested by donations of money, property, or work to needy persons, by endowment of institutions of learning and hospitals, and by generosity to other socially useful purposes. Philanthropy has been and it is still used by organisations/corporations to help communities. However, Weeden argues that if corporations are to become stronger allies of non-profit organizations, businesses must go beyond altruism when they look for ways to help nonprofits organizations (Weeden, C. 1998: 27). He highlights the need to replace the traditional notions of corporate philanthropy with a broader concept called corporate social investing. Real corporate social responsibility is not about philanthropy. It is much broader and much more demanding of management. According to Corporate Social Investment handbook (200) in Dickinson, corporate social responsibility should shift to more narrowly defined corporate social investment in which corporate giving makes business sense with returns in the form of image, employee moral and social stability. (Dickinson: 3) Weeden claims that corporate payments to non-profit organizations should be declared common business expenses: marketing, advertising, research etc. Prof Du Toit maintains that Business should realise that by investing in society they are not engaging in welfare but in actual investment. (Du Toit 2010: 12) John Ross College has the following community involvement; Supporting cancer relay every year, Helping Amangwe HIV/AIDS Village with toiletry boxes and clothes, supporting several local orphanages with clothes and canned food and donation to SPCA every year. These donations and activities are philanthropic and John Ross College has not embraced the concept of corporate social investing yet although these donations earn the School a good reputation in the community. Don’t waste time! Our writers will create an original "Example Essay on Management era of HIV AIDS" essay for you Create order Step 2 Identify a significant business reason for every corporate social investment and obtain as much business value from social investments as is allowable and practical Social investments need to have a notable link to what the business is all about. CSR should not be done because it is merely the right thing to do. It should be done because it is being business-like to do it. While society benefits from an organizations social investing, the organization is looking for a return. However, not all investments need to improve the bottom line; Reputation building and brand loyalty constitute long term benefits. Weeden points out that corporate social investing, as the term implies, starts with the premise that the investor/corporation is looking for a return. He argues that corporate profits make corporate social investing possible and in turn, social investing uses charity to create conditions that are conducive to making a profit (Weeden, C. 1998: 39). Weeden maintains that social investing disciplines a companys charity (philanthropy) so that it is focused on the same general field of interest that the corporation has marked as its own prima ry business territory. John Ross College as an organization has a number of charitable interventions that provide positive results for communities and the environment.some. The school collects money and other useful items and donates them to non-profit organizations in the community. However, there is no clear significant business reason for these John Ross College donations to the community. In a School setting, Projects like appointing student teachers that the school can support financially while they teach and study at the same time can benefit both the school and the student teachers from the community. Offering extra classes for mathematics can benefit the school because it can improve the school pass rate and also help learners to pass and if this can be extended to learners from disadvantages schools who would like to attend it can earn the school much respect within the community and many new learners to register. Step 3 Limit corporate social investments to non-profit organizations and exclusively public institutions. John Ross College donate to non-profit organizations. However, non-profit organizations like Amangwe HIV/AIDS village and SPCA are well established and have a lot of support from other corporations/organisations. Therefore, John Ross College should revisit its selection criteria so as to apply its corporate social investing where it is needed the most in the community. Step 4 Make an open statement that endorses corporate social investing or supports a broader concept that allows for social investing to be developed Statements about corporations social responsibility provide validation that corporations have taken responsible approaches. According to Weeden, it may take a little time, maybe even a lot of time, for businesses to develop a full-blown social investment strategy, but letting management and employees know that they have a ticket to make the effort is the least a company can do.( Weeden, C.1998: 57) At John Ross College everybody (management, staff, and learners) knows that the school has charity practice. There is charity collection every Thursday in school. Step 5 Send a clear message to employees and other stakeholders that the CEO endorses corporate social investing According to Weeden, social investing does not have a chance unless a companys chief executive gives it the nod. (Weeden, C.1998: 65). The Principal of John Ross College genuinely cares about the problems of the community and believes that John Ross College has a role to play in addressing those problems. She is indeed the most involved person in charity collection and allocation to the non-profit organizations. Step 6 Produce a written corporate social involvement report that includes a review of social investments at least once a year Producing a review of social investments at least once a year can give credibility to a company. Reporting allows companies to implement procedures that are manageable and logical. Furthermore, by reporting, companies demonstrate their creative and effective use of social investments. They move the business ahead while addressing social needs. Professor Du Toit argues that the review of social investments should be evaluated for quite often companies are involved in corporate social responsibility without doing the necessary research beforehand which might lead to investment in society where it is not needed most or most efficiently. (Prof Du Toit: 13) A further point is that the internal communication plan can help in providing feedback to staff and management on the corporate social investing policy and strategy, projects selected, project achievements and volunteer opportunities at existing corporate social investing projects. In a School setting like John Ross College in our case, this can be done through school newsletter, staff notice boards in public space areas, intranet and staff Meetings. In addition, the external communication plan can create public awareness for the schools corporate social investing programme and the school role in community upliftment through school website, school newsletter, public relations programme including press releases and publicity. At John Ross College there is no reporting of corporate social investments. There is indeed need for the development and implementation of the external and internal communication plan regarding social responsibility. Step 7 Commit now or by specified date at least 2.5 percent (3.5 percent for manufacturing corporations that donate product) of an average of a companys last three years of pre-tax profits for corporate social investing At John Ross College there is no formula to calculate corporate social investing expenditure. There is no budget for corporate social investing at all and the school support to no-profit organizations depend on what is collected from staff and learners. Although the students pay the school fees of R600 every month, the school does not use any percentage of this income for its support to non-profit organizations. Step 8 Postpone some or all social investing if projected business conditions warrant such action This step is the emergency brake for corporate social investing. Some or all corporate social investing may be postponed if conditions warrant it. If the emergency brake is applied, corporations can decide to increase future payments to make up for reductions. Another option is reinstating the previous level of giving. Step 9 Lock in influential line and staff leaders as co-owners of the corporate social investing program The Principal of the school should assemble the school corporate social investment committee. The Principal of the school should personally ask influential staff/teachers from across the school to take part. These influential staff/teachers should make a committee and organise meetings throughout the year to develop monitor assess and review the school social investment plan. On the one hand, the corporate social investing committee should ensure that a co-ordinated, coherent and focused social investment strategy is realized. The needs of projects that the school can support should be identified and communicated to the rest of the school to ensure that the whole school is aware of the opportunities available for corporate social investment interventions. The corporate social investing committee responsibilities should include determining the corporate social investing policy and strategy, determining the corporate social investing budget and allocation, selecting projects fo r investment, controlling the corporate social investing expenditure, monitoring the effectiveness of funded projects and reporting to the school and co-ordinating the implementation of an effective corporate social investing communication programme. On the other hand the school management team responsibilities should include final approval of the corporate social investing policy and final approval of the corporate social investing budget. Employees should be encouraged to get involved in projects that the school corporate social investing programme supports. This support can include volunteer time, financial contributions and donations in kind. Social responsibility is for the school and local communities. It is therefore essential that both the school employees and local communities own the process and its outcomes. Without this ownership, commitment will wane and the school will struggle to implement its social responsibility strategies. Employees should also be give n the opportunity to nominate their own projects for consideration for funding and nominated projects should be screened according to the criteria of selection. Step 10 Assign day-to-day management responsibility for corporate social investing to a position that is no more than one executive away from the CEO or COO The corporate social investing requires competent day to day management. The manager handles administration once the plan is in place. There should be a corporate social investing programme co-ordinator who reports on all corporate social investing activities on a regular basis. Recommendations John Ross College Corporate Social Investment practices should definitely: Be closer aligned with core business Put formula-based CSI budgets in line with Step Come up with new and refined CSI strategies with defined benefits for the business Have staff to manage formalised CSI programmes; Form long-term working partnerships with Non-Profit Organisation Put social investment, rather than grant making to the fore, with emphasis on development returns Measure CSI results against output-based objectives and CSI indicators Externally verify CSI results Increase communication about CSI and formal reporting Why it is important for organizations to be involved in supporting HIV/AIDS programmes in organizations and communities from a CSI angle According to Bezuidenhout et al (2003) in Dickinson Corporate social responsibility refers to all of an organizations impacts on society and the need to deal responsibly with the impacts on each group of stakeholders.(Dickinson: 2) Social responsibility activities can be internal or external to the business. Activities that benefit employees is internal social responsibility while aspects such as education, health etc for the community is external social responsibility. Corporate social responsibility means that businesses should play an active role in supporting the community in which they operate. Corporate social investment is part of corporate responsibility and is the investment part of a social responsibility programme. Help to promote a positive image of the business in the community and among employees, customers and others Study in the United States found that consumers who become aware of a companys negative practices: (Business for Social Responsibility), 91% would consider doing business with another company, 85% would transmit the information to family and friends, 83% would refuse to invest in the company, 80% would refuse to work for the company and 76% would boycott the companys products. (Strategies for an Expanded and Comprehensive Response to a National HIV/AIDS Epidemic: 5-7) Companies that have a good reputation often derive economic benefits through customer loyalty to their products/services, greater employee satisfaction, a greater involvement with communities and better access to concerned leaders. (Strategies for an Expanded and Comprehensive Response to a National HIV/AIDS Epidemic: 5-7) Â It will help maintain and gain customers The success of any business depends upon the economic status of the consumers. If consumers cannot afford the product, business will not make profit. So, it is essential that people in community are healthy and wealthy. Corporate social investment for the betterment of health, economic status, environment and other factors for the enhancement of the quality of life of the community would ensure that their profit margin continues. According to Prof Du Toit (2010: 2), consumers are becoming increasingly more aware of the effect of companies on nature and society and if companies are acting irresponsible in respect of nature or society, consumers do not hesitate to not support them. HIV/AIDS negatively affects workforce, market and, ultimately ability to earn a profit. Prof Du Toit (2010: 3) asserts that in the worst affected countries, one in four adults are now affected. He maintains that more than 80% of people dying of HIV/AIDS are in their 20s. And with a disproportionat e number professionals and skilled workers, the disease is hollowing out economies and leaving entire communities composed only of the very young and very old. Increase employee productivity The number of people being affected by HIV/AIDS is increasing daily. This will reduce the labour force in due course. This will result in a drop in skilled people in the business. A drop in the work force will have negative effects on the economy e.g. Low productivity. HIV/AIDS can contribute towards high absenteeism as well Volkswagen do Brazil has a comprehensive has a comprehensive programme for prevention, training and treatment for workers that has seen a 90% reduction in hospitalization and a huge positive impact on morale and productivity. (Prof Du Toit 2010: 4) In 2003, a study on six companies in South Africa and Botswana has identified that costs associated with HIV/AIDS in the work force (increased medical costs, decreased productivity, etc) was as much as 5.9% of the companies labor costs. However, the study demonstrated that all six companies would have earned positive returns on their investments and reduced this costs associated with HIV/AIDS in the work force by as much as 40.4% if they had provided free antiretroviral drugs to employees living with HIV/AIDS. Furthermore, the study has reported that the returns, in terms of cost savings through preventing HIV/AIDS, are as high as 3.5 to 7.5 times the cost of intervention. (The Business Response to HIV/AIDS 2000:18) Bloom, D. et al.2006: 11 are certainly correct in saying that HIV/AIDS affects corporations by increasing costs and reducing productivity. Their argument is that rising costs result from Greater insurance costs (e.g. life insurance premiums in Zambia quadrupled in two years), higher health care costs, increased absenteeism due to illness or caring for infected family member(s), higher recruitment and training costs for new employees and Greater funeral costs, whether due to absenteeism or actual funeral costs. Bloom, D. et al. maintain that declining productivity results from increased absenteeism, high staff turnover resulting in a loss of knowledge, intellectual capital and skills and poor morale due to loss of loved ones and/or fear of discrimination.( (Bloom, D. Et al. 2006:7) It can be concluded that all these effects as stated by Bloom, D. et al. lead to decreased individual and household purchasing power (lower income), resulting in consumers buying fewer goods and services, saving less money and paying fewer taxes. In addition, these effects lead to fewer work force, production of fewer goods and services, reduced market size leading to more competition, fewer businesses surviving and lower profits for those that do survive. ((Bloom, D. Et al. 2006:7) According to Rosen, S. et al, for most companies, HIV/AIDS can raise the cost of labor by 1-2% in companies. Rosen, S. et al conducted a study in the non-agriculture companies in South Africa, Uganda, and Zambia. This study has revealed that, in their last two years of service, employees who died of HIV/AIDS were on leave or absent from work between 18 to 50 days more than other em ployees. (Rosen, S. et al. 2006:8) Increase the effectiveness to attract and retain employees In business, reputation can have both economic and social returns. Many businesses are involved in HIV/AIDS work because they want to protect or develop their corporate reputation internally and externally. Internally, a healthy, skilled and satisfied workforce is a major asset for a company. The employees perception of the company is important for job recruitment and retention. (Strategies for an Expanded and Comprehensive Response to a National HIV/AIDS Epidemic: 5-7) Investors prefer to invest in socially responsible organizations. Firstly, business is arguably the most powerful institution of our society and the major force affecting world conditions, and secondarily, individual business corporations will survive only if they address individual and societal needs and become more effective in their processes. Prof Du Toit (2010: 2) identifies four major stakeholder groups: shareholders, employees, customers and the general public. If a company does not respond to its stakeholders concerns, it can lose customers, valuable staff, investors and access to capital assets and market share. The ILO estimates that as many as 36.5 million people who are engaged in productive activity are living with HIV. Therefore, the ILO maintains that HIV/AIDS must be recognized as a workplace issue and be treated like any other serious illness affecting employees. The ILO argues that this is necessary because on one hand, HIV/AIDS affects the workforce and on the other hand because the workplace, being part of the wide r community, has a role to play in the struggle to prevent the spread and effects of the epidemic. The ILO asserts that the workplace can be a central point for prevention and care within its existing human resource development and training programmes, health and safety structures and it is also the place where standards are set for working conditions, labour relations and the protection of workers rights.( ILO AIDS Interim Report May 2006: 8)

The Bible s Version Of How The World - 1756 Words

For hundreds of years, the majority of the world believed in the Bible’s version of how the world was created. The most common known story is from Genesis 1. In this verse from the Bible, God created the world in six days and then proceed to rest on the seventh which is why we are supposed to rest on Sundays. Each day God creates a different part of the universe. For example, the first day He creates light, the fourth and fifth day He creates all the land animals of the world, and finally on the sixth day He creates humankind, both male and female. This basic story was what most Christians accepted and believed in for thousands of years. Then in 1859, Charles Darwin released his book, On the Origin of Species, which stated that animals†¦show more content†¦It is much easier for people to say that the Bible is wrong and many have because there is not that much proof to back it up. If the Bible is taken literally word for word, a person would be able to say that it is w rong very easily, but by looking at the Bible more abstractly and interpreting it in different ways, it can fit with scientific theories much more closely. By taking a look at each day individually, what happens on and the order of these days, it become clear that creationism is quite similar to how evolution states the universe and world was created. A lot of the following ideas about each day came from an article written by David Wolper in an article called â€Å"Genesis and Science: More Aligned Than You Think?† for the Huffington Post in 2010 with a few of my own throughout. The Big Bang Theory is the scientific theory that attempts to explain how the universe was created. It states that the universe started out in a very small, very dense, and very hot area and then with the help of a huge explosion expanded into the universe we know today. What scientists have failed to prove is where the very small spot or where the first materials of the universe came from. God can be used to answer those questions. Like it states in Genesis 1, on the first day, God created heaven, earth, and light which is the Bible’s version of the Big Bang Theory. There is absolutely no way to

Patriots, Loyalist, and the Neutral Ones Stuck in the Middle Free Essays

Patriots, Loyalist, and the Neutral Ones Stuck in the Middle Today’s America is known for many things; however, one of the things it is notorious for is being a free country. Becoming a free country did not come without many trials and tribulations. The freedom that the American people now have grown so accustomed to started with fierce opposition not only from Britain, but from many of the Englishmen who lived in American colonies. We will write a custom essay sample on Patriots, Loyalist, and the Neutral Ones Stuck in the Middle or any similar topic only for you Order Now The people that supported Britain throughout the American Revolution are referred to as Loyalists. On the other side of the spectrum, the people that strongly opposed Britain’s rule and King George III are known as Patriots. Patriots fought against the acts that Britain wanted to enforce and believed the colonies should have independence from Britain. Last there were the people who were neutral. While the Patriots and Loyalists were large in numbers, those in the neutral party were the minority, often suffering hardship due to their stance. Although the Patriots found unity in the beliefs they held towards Britain, they were a blend of people from many different backgrounds. Patriots were a blended group of people from different social classes, from farmers to lawyers. They did not all share the same education level or common interests. The Patriot party was not fueled by people who were seeking their own power just for the purpose of being free. They were a group of people who felt like Britain was unjust in their tactics of rule. During, and immediately after the military conflict, a ferment of ideas — argued and discussed by an assemblage of remarkable men whose likes have rarely been seen — produced an innovative combination of republicanism and federalism that would serve as a model form of government for humankind, offering fresh political opportunities. † (Cowley and Parker 2001) The Patriots were against what they felt was unfair taxation, which was the beginning foundation of â€Å"no taxat ion without representation. Some Patriots felt that loyalty should still be in place towards King George III; however like those who didn’t express similar loyalties, they felt â€Å"that taxes should be regulated by their own legislatures, not by members of Parliament in Great Britain. † (Houghton Mifflin Harcourt 2011) One of their base core values was liberty. However the liberties they wanted or already had experienced, had been threatened by the Britain’s greed. They opposed being held to rules that were not put in place by the population majority. They felt it was only just that the people in the colonies have rules and regulations that they set instead of following everything that Britain desired. Patriots had an overall want for a common good. The poor people would not be held to things the rich would put in place, instead the people of the colonies would find a common unity to benefit all of its inhabitants. Loyalists were a party of people that would closely identify with today’s slogan â€Å"if it isn’t broke, why fix it†. Everyone living in the colonies had adhered to the rules and regulations set forth in Britain before and in their eyes, change was not necessary. Many lacked the desire to rear against a country with so much power. Unlike the Loyalists opposing group, the demographics were much more similar in those that followed the King. Money was a common factor for them and so was the responsibility of being a business owner. Many business owners had links to Britain that tied their livelihood in America to their loyalties they expressed for Britain. Many Loyalists had ties to Britain’s upper-class through marriage and other family. All factors that can solidify the stance many Loyalists chose. They also feared the upheaval that could arise without being under the control of Britain. They had no way of knowing their families would be safe or that their businesses would not be destroyed. They had no reason to be confident there worries might be unjustified when the Patriots resorted to violence. Britain wasn’t only safe because change is hard; Britain was safe because of the orderliness that they maintained. Loyalists also felt it was a moral issue to not be loyal to King George III. In their eyes, they did not have the power to choose and side when their moral beliefs told them their only option was to be loyal to the crown. Finally there was the group that did not take a solid stance on either side of the debate. The neutral party was not necessarily the easier side to be on though. They tried to keep more to themselves and not be as active as others did. They tried to maintain a low profile and stay out of the way. However, by not choosing to be on one side or the other they were looked at poorly by both Patriots and Loyalists. They continued business with Britain, and followed their own protocol they deemed appropriate for themselves. â€Å"Men of good will simply should not rob and butcher one another, they believed, and many felt that the correct stance was to refrain if at all possible from any form of participation. † (Fellman 1990) Note that â€Å"if at all possible† was not always permitted. â€Å"Nearly half of all colonists did not want to take sides. They wanted to remain neutral in the conflict between the British and the Patriots. But they were forced to choose sided once the war began. (Todd 2001) Everyone living in the American colonies during the war felt the effects. Though not all wanted to be involved, nor did many feel the need to participate, it was unavoidable. Men, women, and children shed blood; there was no one who was not impacted. Being a Patriot, Loyalist, or a neutral party was based on differences varying from monetary and social class, right down to fear of chang e; however, there was no difference when comparing the high emotion and the impact experienced during the American War. Works Cited Cowley, Robert, and Geoffrey Parker. Reader’s Companion to Military History. Wilmington: Houghton Mifflin Harcourt, 2001. Fellman, Michael. Inside War: The Guerrilla Conflict in Missouri During the American Civil War. Oxford University Press, 1990. Houghton Mifflin Harcourt. 2011. http://www. hmheducation. com/fl/pdf/resources/Grade5/T-5-1_SFLETG713311_TGL08. pdf (accessed September 14, 2012). Todd, Anne M. The Revolutionary War. Capstone, 2001. How to cite Patriots, Loyalist, and the Neutral Ones Stuck in the Middle, Papers

Using Financial Statements To Compute Ratios-Myassignmenthelp.com

Question: Discuss About The Using Financial Statements To Compute Ratios? Answer: Introduction BHP is a pioneer in the resource industry and has its presence in the global arena. It is one of the biggest producers of commodities that have iron ore, copper, coal, etc. Further, it has enhanced its activities to conventional and unconventional oil, coal and gas. It is regarded as the biggest producer of commodities such as iron ore, silver, nickel, etc. The main aim of the company is to own, as well as have an operation on the low-cost assets that are divided by geographical constraint and market. It strives to cater to the need of the customers through its resources and growth. The main aim is to extract oil, gas and other minerals from various locations of Australia (BHP Billiton, 2016). The products of BHP can be traced all around the globe and the major sales can be tracked in Singapore, as well as Houston. The workforce consists of 1, 23,850 employees with other contractors that have its reach to more than 130 destinations (BHP Billiton, 2016). The long-term view of the comp any helps the company to cement a strong position in the market. The operations and movement of the company is a proper indicator of the power and fundamentals of the company and has provided a strong support towards economic growth. BHP Billiton is dual listed and has its headquarters in Australia. The primary or the main listing is on the Australian Stock Exchange. Framework The corporate planning of BHP Billiton is strong enabling the company to meet the challenges that pertain to the external environment and enables to increase the total return. The phase that is starting provides the development of the central case that enables bottom up assessment (BHP Billiton, 2016). The planning process is structured in a manner that enables to elbow many uncertainties that exist globally. Moreover, the framework helps in the structuring of the external factors that contains political, technical and governance. Further, the presence of governance and the compliance process makes it sure that the internal control is assessed and the practices do not suffer (Brealey et. al, 2011). Thereby, the framework is structured in a manner that eliminates the situations that are adverse in nature. Sources of Financing The net debt of BHP Billiton consists of liabilities that bear interest and the in tune to this, the group issued Global bonds that sum to US$ 5 billion and consisted of Senior floating rate notes of value US$500. Further, the group consisted no commercial papers that are supported by credit facilities. In the year 2015, the net financing cash flow enhanced to US$284 that increased sharply from US$8.3 million. The company used a hybrid of multi currency and the lower dividend was paid as per the new structured policies. The main aim of the group is to own, as well operate assets that have large life, low cost, and the new policy that contains diversified by market and geography. The monitoring of the group is due with the aid of gearing ratio, the ratio that can be termed as net debt to net debt in addition to assets. The exposure of the group is present to the interest rate risk on the borrowings that is outstanding and other investments (BHP Billiton, 2016). The management of the i nterest rate risk is done through the strategy of portfolio risk management. The group contains debt that is issued at rates that are fixed in nature. Further, the exposure of the group is even present to the interest rate swaps. The activities of finance comprise of receipts from liabilities that have an interest bearing and other earnings from the debt related tools, liabilities repayment that has an interest bearing tag, the revenue from the ordinary shares, buy back, dividend payment, etc. These are the cash flow from financing activities. Further, the component of equity consists of share capital, reserves, treasury shares and retained earnings. Moreover, the share capital that is issue consisted of shares that were supported by public, preferences and the treasury shares (BHP Billiton, 2016). Capital Structure and Financial ratio The capital structure of any company is denoted through the debt equity ratio, debt ratio, and the equity ratio. In the case of BHP Billiton, it is noted that the proportion of debt is higher in all the five years and has crossed 1 meaning the stress of the debt is high. Further, it indicates that the capital of the company is more concentrated on debt. Hence, a huge outflow of the funds will happen by way of interest. The equity ratio of the company stands below 0.50 which means the company has standard equity balance. Higher the equity ratio the best will be the situation (Davies Crawford, 2012). Overall the capital structure means that more reliance is in debt. Financial ratio As per the computation, it can be commented that the liquidity of the company is strong and hence, BHP Billiton can meet the obligations. The current assets are sufficient to match the current liabilities. Further, both current and quick ratio has increased over the span of five meaning stressing on the strong liquidity position of the company. On the other hand, the gross profit of the company is formidable that indicates the strong control over the cost of sales. However, the net profit margin declined in the current year that is a big alert and negative sign on the part of the management (Horngren, 2013). Rio Tinto Rio Tinto, listed on the ASX is a leading company in the mining field and is completely based on the processing of minerals. It has its presence worldwide and a mining group and mainly emphasizes on mining, as well as processing of mineral resources of the Earth. The goal of the company is to generate high returns that are sustainable in the eyes of the shareholders and hence, establish a portfolio that is efficient in nature. Rio has its presence in more than 35 countries and has a workforce of more than 51,000 people (Rio Tinto, 2016). It has its headquarters in the UK. With a presence on a global scale, the group has efficiency in terms of providing correct expertise. The main achievement of the company is with respect to the sustainable development. The group functions in a manner that is containing long-term benefits for the customers and the society as a whole. Strategic advantages like access to the huge and best quality bauxite make it immensely successful. Trend The position of Rio Tinto stands strong due to the strong balance sheet, assets of world class and containing strong drivers of performance. The talented employees are an asset when it comes to the period of volatility (Rio Tinto, 2016). Along with the strong infrastructure and an emerging economy, the long-term perspective of the industry is strong. The company has strong discipline in terms of capital and has strong tamed the capital expenditure. The capital expenditure was reduced from US$4.7 billion in 2015 to the US $3 billion in 2016. The net debt was decreased considerably from US$13.8 billion to the US $9.6 billion. Framework Rio Tinto is mainly engaged with risk management that is important for the smooth running of the organization. It helps in creation, as well as an increment in the value. The risk structure provides a general idea that the company stresses on leaders for the creation of value by the management of the business. The framework provides a general idea that the risk management is another important aspect on how to create value. It is vital for the smooth functioning of the company (Albrecht et. al, 2011). The importance of identification and management of risk rests with every employee and the leaders in the organization. Finance Sources From the annual report, it is clear that the financial resources or access to the company are not limited or constrained. In 2013, bonds were issued by Rio Tinto. Further, it associated with finance limited that helped in the creation of additional amount that stands at $7.5 billion. Moreover, the group has strong links with the bank and of a bilateral nature. To ensure a strong momentum, Rio issued 1,436,542 shares from treasury and 951 allotments of new shares were done. The purchase by trustees stood at 842000 shares (Rio Tinto, 2016). Further, the registrar purchased 1,089,189 shares so that obligations can be honored. The share capital comprised of reserves retained earnings, and share premium. Also, the financing structure consisted of payment related to dividend from the equity shares, repayment of borrowings, and purchase of interest that appears to be of non-controlling nature. Capital Structure and financial ratio The capital structure of Rio Tinto clearly indicates that it is a debt ridden company as in all the five years the debt equity ratio exceeds 1. This means that the company has an over reliance on debt. The equity ratio projects that the equity is below 0.50 that does not boast a strong picture. Hence, a major chunk of profit will go towards interest payment (Graham Smart, 2012). Financial ratio Going by the computation, it can be commented that Rio Tinto has liquidity as projected by the current and the quick ratio. The current ratio is next to the standard ratio of 2:1 implying a perfect ratio. However, the quick ratio is above 1:1 meaning the funds of the company can be invested elsewhere and income can be generated (Libby et. al, 2011). The gross profit of the company is properly balanced. However, there have been fluctuations in the past five years. However, the net profit margin indicates that the company falters when it comes to the management of expenses. It has fluctuated in all the five years and been negative too. BHP Billiton has higher exposure to Oil and Gas The earnings of Rio is majorly concentrated from the aluminum and iron ore that provides a great contribution to earnings of $1.12 billion and $3.95 billion that was projected in the year 2015 and the total earnings stood at $4.54 billion. It needs to be noted that Rio was linked to operation in copper and coal that led to an inflow of $274 million of segment earnings the previous year. On the other hand, BHP earnings come from the iron ore and have strong fundamentals in coal, as well as copper (BHP, 2016). This indicates that both the companies have a strong concentration on iron ore and even in coal and copper. The presence of energy can be witnessed in the case of BHP while Rio lacks in this regard. The sensitivity of the change in profit to price changes of BHP can be answered through the following. The profit after tax of BHP has increased by $600 million if the crude price will increase by $10 per barrel. In the short-term, the exposure of BHP to energy is inefficient because the crude prices have declined to a considerable extent. Hence, the concentration is one iron ore. Flexibility The balance sheet of both the companies is strong or effective in nature with low cost of production that helps both the companies to cater to the demand of the stakeholders. It enables both these companies to consider the supply that is in excess. Therefore, it can be said that both the companies have strong fundamentals and better results can be attained in this regard (Melville, 2013). Management of Capital When it comes to investors of Rio and BHP it can be said that the investors were dejected owing to the deficit in the capital return. The capital management of BHP is weak and hence, far from attainment of the apex (Northington, 2011). On the other hand, Rio Tinto stresses mainly on the shareholder return. However, the capex of Rio declined at a strong pace as compared to BHP. Strategies of Credit BHP stresses mainly on maintenance of a strong credit rating that is A whereas Rio is ready to forgo one grade of credit rating so that the growth strategies can be executed. Approximately 80% of the Rio earnings is generated through the operations of iron ore and the decline in the prices of iron ore is structural in feature meaning that it does not disturb the momentum of the company (Rio Tinto, 2016). The initiatives of productivity and weakness in the local currency may give support to the company. On the contrary, the prices of shares of BHP are getting swayed by the petroleum product exposure Findings Both the companies are debt ridden and hence heavily rely on debt. Therefore, investment in such companies is prone to risk as the company needs to pay huge interest for the debt undertaken (Lapsley, 2012). The profitability of both the companies has undergone immense change. the fluctuation has happened as it both the companies are under the mineral resource group. The external scenario heavily influences the scenario (Correia al, 2005). If the share price of BHP surges there will be more capital gain to the investors as compared to Rio. The ability to bounce back is more prominent in the case of BHP as it has more strong fundamentals as compared to Rio Tinto. Recommendation The above report signifies that both the companies are into the fierce competition and whenever there is a downfall in the marketing; the market condition of both the countries has plunged. It is, therefore, evident that the market scenario plays a leading role in the progress of the both the company. Going by the overall report, it can be commented that both the companies should not be considered for investment as it is running under huge debt. The ratio analysis is a clear indicator of that. Debt ridden companies are prone to heavy drawbacks and hence, must be avoided. References Albrecht, W, Stice, E Stice, J 2011, Financial accounting, Mason, OH: Thomson/South-Western. BHP Billiton 2016, BHP Billiton Annual Report and accounts 2016, viewed 11 September 2017 https://www.bhp.com/investor-centre/annual-reporting-2016 Brealey, R, Myers, S. and Allen, F 2011, Principles of corporate finance, New York: McGraw-Hill/Irwin. Brealey, R. A, Myers, S. A Marcus, A. J., 2015. Fundamentals of Corporate Finance, 8th ed. Australia: McGraw-Hill Irwin. Correia, C, Mayall, P, O'Grady, B Pang, J 2005, Corporate Financial Management, 2nd ed. Perth: Skystone Investments Pty Ltd. Davies, T Crawford, I 2012, Financial accounting, Harlow, England: Pearson.. Graham, J Smart, S 2012, Introduction to corporate finance, Australia: South-Western Cengage Learning. Horngren, C 2013, Financial accounting, Frenchs Forest, N.S.W: Pearson Australia Group. Lapsley, I. 2012, Commentary: Financial Accountability Management, Qualitative Research in Accounting Management, vol. 9, no.3, pp. 291-292. Libby, R, Libby, P Short, D 2011,Financial accounting, New York: McGraw-Hill/Irwin. Melville, A 2013, International Financial Reporting A Practical Guide, Pearson, Education Limited, UK Northington, S 2011, Finance. New York, NY: Ferguson's. Rio Tinto 2016, Rio Tinto Annual Report and accounts 2016, viewed 11 September 2017 https://www.riotinto.com/documents/RT_2016_Annual_report.pdf

Androstenodione Essays - Major League Baseball, Baseball

Androstenodione This past year a lot of things have happened in the world. President Clinton could possibly be impeached. Our government tried to once again take over Sadaam Hussein. And Mark McGwire hit 70 home runs to break Roger Maris' record of 61. During this extraordinary event in the baseball world, one item of skepticism clouded the entire accomplishment. During an interview that he was giving next to his locker, a reporter noticed a bottle on the top shelf. This bottle was filled with a nutritional pill titled androstenedione, a legal dietary supplement that is a testosterone-producing drug that helps the body repair itself after workouts. This repairment, in turn, helps the person taking it build muscle faster. Some sports fans, and some who are not, say that McGwire's record should be discounted due to the use of this pill. I am not one of those people. What he did this year was a personal accomplishment and while the "andro" may have helped a little, Mark did this through years of hard work in the batting cages. As a skinny rookie in 1987, McGwire managed to knock 49 baseballs out of the park. I think that 11 more years experience in the league could provide a player with the experience to chalk up another 21 dingers. Now granted, I can see some skeptics points. Androstenedione is a supplement that has been banned by a number of sports organizations worlwide: the NFL, NCAA, and the International Olympic Committee for example. But Major League Baseball is not one of these organizations. So why then should his record be nixed for breaking a rule that does not even apply in his sport? The answer is he shouldn't. Mark McGwire is a superb athlete who bettered his game by following the rules. He did absolutely nothing wrong in obtaining this once thought of unobtainable record. Another aspect to look at is that Sammy Sosa also had a tremendous year. This Chicago Cub hit 66 home runs this year and he has never touched androstenedione. How hard is it for a fellow slugger to hit 4 more? Not that difficult if you are as high a caliber player as McGwire. Muscle building supplements have been used for years in pro and college athletic programs. Creatine, probably the most popular, is used by virtually every major college in the country. Even your average weight lifter uses it. Androstenedione is just one step higher on the dietary scale, and only by a fraction. A statement was issued by the Cardinal's medical staff concerning androstenedione when the supposed "scandal" surfaced. Now, there is a possibility that it may be a tad biased but keep in mind that the ladies and gentlemen that issued this statement are still doctors. "Androstenedione is a natural substance, which is a natural precursor product of testosterone. It has no proven anabolic steroid effect nor significant side effects. It stimulates slight increase levels for a short period of time (1 hour). Taken approximately one hour before workouts, it may make one's workout more efficient. "Due to current research that locks documentary evidence of any adverse side effects, the Cardinal's medical staff cannot object to Mark's choice to use this legal and over-the-counter supplement." If doctor after doctor repeatedly defends androstenedione as harmless and the FDA approves its use, why all the controversy? Creatine is basically the same thing and is used on a much more widespread basis, yet no one questions its use. Why? I think that partly the reason may be because Mark McGwire is so good and so powerful. Roger Maris' record was never even threatened up until this year. Living in the type of country we do, people needed to find a bad side to everything that is pure. Even if no rule was broken, the public accuses anyway. If legal muscle enhancing products were outlawed and everyone who used them had their records revoked, the standard by which we measure athletic greatness would be considerably lower. Regardless of whether or not Mr. McGwire used a muscle enhancing product or not, he accomplished a spectacular feat. Something legal that he did should not question the validity of that event. It is a sad fact that a sports hero can break a once thought untouchable record and now his name will forever be flawed for no reason at all.

THE LOST WORLD Essays - The Lost World, Jurassic Park, Free Essays

THE LOST WORLD Essays - The Lost World, Jurassic Park, Free Essays THE LOST WORLD by Michael Crichton This story takes place six years after the Jurassic Park disaster. The book starts out with Ian Malcom giving a speach on his theory of extinction at a place called the Santa Fe Institute. As he's talking, a tall man stands up. His name is Richard Levine. He's a paleontologist, and he is fairly wealthy. He interrupts Ian to tell him that he doesn't think dinosaurs are really extinct. He believes there's a lost world on an island somewhere off Costa Rica. "I'm quite serious. What if the dinosaurs did not become extinct? What if they still exist? Somewhere in an isolated spot on the planet?" (5) Ian tells him this is nonsense, and continues on explaining his theory. Outside of the Santa Fe Institute, Ian meets up with his long time friend, Sarah Harding, a well-known biologist who studies large predators in Africa. They discuss what Levine said, and they come to the mutual conclusion that Levine probably doesn't know what he's talking about. Meanwhile, Levine is secretly preparing equipment for a jungle expedition. He enlists the help of a man called Doc Thorne, who was a college engineering professor, but now designs souped-up vehicles for expeditions and searches. He also enlists Doc Thorne's best mechanic, Eddie Carr. Levine has Doc Thorne and Eddie rig a Ford Explorer and a motorcycle to run on batteries. He also has them build reinforced trailers to house biological labs. Levine inspects the equipment and sees that it is satisfactory and almost ready to go. He suggests that instead of testing the prototype vehicles first, they take them directly to Costa Rica to start the expedition. Thorne doesn't like the idea, but because Levine is so enthusiastic, he agrees. Levine sets to leave at midnight from San Francisco, and the expedition is to join him in Costa Rica about forty-eight hours later. As they're finalizing their plans for the trip, a black kid, Arby Benton, about ten years old, wearing glasses and a suit, and a taller white girl named Kelly Curtis walk in and catch wind of the plan and immediately want to go. They had been expecting to go on another small expedition with Levine over their spring break to study fossils having already had permission from their parents. Since they already had permission to be away from home, they decided it wouldn't hurt to go a little farther. Levine, Thorne and Eddie immediately say, "No," thinking that the risk would be too high. Levine leaves later that night for Costa Rica. Back at the Santa Fe Institute, Malcom says goodbye to Sarah, because she is going back to Africa to continue her study of hyenas. As Malcom watches her leave, he decides to go visit his friend Doc Thorne in a day or two. Levine reaches Costa Rica the next day and charters a fishing boat to bring him to Isla Sorna, one of five islands in a chain known as the "Five Deaths." Satellite evidence indicates to Levine that a volcanic island in this area may be home to nests of living dinosaurs. Before Levine leaves for the island, he hires a local guide, named Diego, who visited the island frequently as a child and claims to have knowledge of the island's trails and primitive roads. They set out for Sorna and reach it two hours later. Levine and Diego are forced to climb steep cliffs to reach the plateau at the top of the island. As they reach the top, Diego looks around and confidently tells Levine to follow him. Diego leads the way to a stream where Levine stoops down to take a drink. In the undergrowth around him, he notices several small, chicken-sized dinosaurs. He recognizes them as procompsagnathuses. Diego also notices them and reaches out his hand to pet them. Levine warns him that even though these dinosaurs are small, it's possible that they could have a venomous bite. Diego quickly pulls his hand back just as one of the dinosaurs jumps at him and tries to bite him. Suddenly, the little dinosaurs begin to chirp and become skittish. They quickly scatter into the underbrush and disappear. Levine looks around worriedly for a some sign of what has frightened the diminuative dinosaurs. As he glances around, he can tell something is wrong, but he can't put his finger on what it is. Suddenly, Diego is jerked from his feet and dragged screaming

Sales promotion and Management Essay Example | Topics and Well Written Essays - 2500 words

Sales promotion and Management - Essay Example For instance, coffee is one of the most valuable import commodities in the whole of the United States of America. To be able to cope with the demand resulting from the popularity of coffee as the most preferred beverage in the world, there have been numerous retail chains that have been established. There has been a remarkable and continued expansion of their operations in the sector. This paper will analyze and critically evaluate the various promotional techniques used in the sector and further evaluate their effectiveness. In addition, the issue of budgeting for the chosen promotional activities and the respective returns will also be discussed. Large self-service retail chains or coffee shops have always provided customers with an experience. This is by the way they provide a wide range of innovative products and services, through well-targeted promotions that have an impact on their buying decisions. Some of the most common promotional techniques that are closely related to product trial include the use of free samples, bonuses, coupons, and discount on purchases and in the shop display. The main reason behind the use of trials is that they determine repurchase behaviour among consumers. In addition, they also mediate in the relationship between sales promotions and repeat-buying behaviour. Repeat-buying behaviour of customers is widely influenced by the values or tastes obtained and perceived on the product or the taste of the coffee in a given retail chain as commonly stated by many. Additionally, the product characteristics, knowledge, trial, availability and subsequent purchase factors influence the customers towards making re-buying decisions in relation to the type of promotional technique employed by the coffee chains. Moreover, the decision by consumers to re-purchase the products on offer or in this case, revisit the retail chains is largely affected by customers’ level of satisfaction that is obtained from the products. It is also

Operations Issues in Hospitality Essay Example | Topics and Well Written Essays - 2500 words

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Article critique in Higher Education Essay Example | Topics and Well Written Essays - 1250 words

Article critique in Higher Education - Essay Example he NSF/PTK project, the credibility of the authors to write about the NSF/PTK project is not as strong as compared to having all the three authors a member of the NSF/PTK project. The qualification of the authors would have been stronger if all the authors are members of the NSF/PTK project. The author of this article mentioned that the article was written to determine the impact of the NSF and PTK project in the quality of the community’s education. It is good that the authors explicitly stated in Table I – Phi Theta Kappa Award-Winning Colleges the name of the seven selected schools, the number of campuses in each school, the number of enrollees and education program students together with its partnered 4-year institution that participated in the study. This information provides the reader a rough idea on where the study in this article was conducted. Funded by the NSF and PTK, the authors explicitly stated that the purpose of the study is to determine the impact or effect of the implemented national project on the 7 selected community colleges including the 4-year partner institutions in strengthening the Science, Mathematics, and technology components of the educational programs in each community college. The authors did not mention any research question or hypothesis in this study. This area is one of the weak points of this study. The article would have been written better by including some research question and/or hypotheses since it would allow the readers to have a critical thinking regarding the main topic of this article. There is no solid literature review in this article. Since two of the authors are professors and the other one is a teacher education instructor, most of the information in this article came from their own idea, perception, and experience in their teaching profession. mentioned that the NSF and PTK project has two rounds of funding wherein the first round is composed of seven mentor teams that worked with 18 selected community

The Importance Of Tanzania Joining International Trade Economics Essay

The Importance Of Tanzania Joining International Trade Economics Essay The world has become dynamic which forces countries around the world to trade interchangeably. As any other country, Tanzania has seen the importance of joining international Trade by identifying ways and means of navigating through a viable and steady path towards competitive export-led growth for the realisation of the goal of poverty eradication. In order for Tanzania to grow it needed to increasingly engage in the global trading system and draw benefits from inclusive globalization, in particular higher economic growth and poverty reduction. Table of Contents 1.0 Introduction Tanzania is situated on the east coast of Africa. Tanzania which includes the islands of Zanzibar and Pemba became independent in 1961 with a per capita GNP of US$ 210 the economy is essentially dependent on agriculture. Tanzania is one of the worlds least developed countries. From independence in 1961 Tanzania followed a socialist model of economic development. This essentially non-market approach resulted in the nationalization of businesses and industries and the collectivization of agriculture. Over time the failures of this strategy became apparent as the economy stagnated and suffered significant setbacks. Since 1985 Tanzania has implemented a series of economic reforms but progress has been inconsistent. However since 1995 the pace of reform has accelerated and Tanzania has focused on macroeconomic stabilization and fiscal reform supported by international financial institutions. Tanzanias economic performance was expected to remain strong in 2008. GDP growth for 2008 was estimated at 7.5 per cent, up from 7.2 per cent in 2007 and an improvement between 2002-2006 period when the economy grew by an average of 6.0 per cent. Recent growth has mainly been attributed to construction, tourism and mining. Economic reforms have been key growth drivers and have transformed the economy from a relatively controlled one to one that is liberalized and market-driven. Inflation has remained in single digits and averaged 5.0 per cent per annum from 2000-2006 but shot up in 2008 and is expected to edge over 9 per cent  in 2008, as a result of the globally high food and fuel prices. The current account deficit was forecast to stay at  about 13 percent of GDP due to higher imports as a result of strong economic activities and a construction boom. Tanzanias main trading partners are the European Union, Japan, India, and Kenya. Tanzanias exports are primarily agricultural commodities such as Coffee Cashew nuts Tobacco Cotton constituting the largest sectors Imported products are as follow Machinery Transportation equipment Industrial raw materials Consumer goods constitute the major portion. Because of the decrease in agricultural production during the past few years, attributable to climatic conditions, food and foodstuffs imports have increased sharply. Tanzania is a net importer of services. Dar es Salaam is the commercial capital and major sea port for Tanzania Mainland and it serves neighboring land-locked countries of Malawi, Zambia, Burundi, Rwanda, and Uganda, as well as Eastern DRC. Other sea ports include Zanzibar, Tanga, and Mtwara.   Because of its geographical and location advantage, Dar es Salaam Port presents itself as the gateway into East and Central Africa.  Furthermore, this renders Tanzania as a logical investment destination for investors. This indicates clearly that Tanzania can participate well in trade activities by integrating with other African Countries. 2.0 Statement of the Problem Tanzania Integration with Africa Trade Policy Framework 3.0 Objectives of the Study The objectives of the study are as follows: To indicate how Tanzania can integrate with African countries to be able to facilitate International Trade. To determine the major issues that can be improved to make Tanzania becoming the web of Africa in International Trade. African Trade Policy Framework Country firms are supposed to compete based on static comparative advantages, and free trade maximizes both national and international welfare. Perfect competition is assumed, market failures do not exist, and trade serves no other purpose other than that of efficient exchange of goods and services to maximize individual and collective welfare. In this world, the pattern of trade would be determined entirely by comparative costs whereby the most efficient producers would supply the worlds requirements and the market mechanism would be the sole determinant of prices. If free trade economists ruled the world, there would be no trade policy. This is because autonomous trade liberalization is unequivocally good for the liberalizing country leading ultimately to global free trade. In this world there would be no trade treaties, not trade negotiations and no World Trade Organization. Economic history shows that governments everywhere generally create and maintain distortions in the pattern of trade for reasons they consider more valid than the economists sole criterion of efficiency. Since the Second World War, trade policy has increasingly been dispersed at four major levels: By national governments Commodity-based cartels Regional blocks Multilateral institutions Often the politics of policy designs pulls in opposite directions. For example, while the multilateral arrangements (various General Agreements on Trade and Tariffs, GATT; and the recent World Trade Organization, WTO, rules) as well as the prescriptions under the Structural Adjustment Programmes (SAP) by the World Bank and the IMF push hard towards free trade regimes, national politics often opts for protectionism. While multilateral rules via WTO encourage negotiated but complete liberalization, regional and national pressures are towards preferential and selective liberalization. What often emerges as the trade policies for individual countries are often the result of a balance (contestation) of power among the competing power blocks domestic politics due to interest group pressure versus external demands tied to external obligations to regional arrangements and international institutions. The policy content, in recognition of the tension, tries to marry both the economic and poli tical arguments. Trade policy in Africa has been no exception to these tensions between economics and politics. Though with differences in scope and intensity, trade policies in most African countries have generally followed a discernible pattern marked by the prevalence of restrictions on trade. Tanzania Trade Policy Framework Policy is a statement of intent for achieving an objective. Deliberate statement aimed at achieving specific objective policies are formulated by the Government in order to provide a guideline in attaining certain objectives for the benefit of the people VISION, MISSION AND OBJECTIVES OF TRADE POLICY This trade policy responds to and builds upon the internal economic reforms that have been under implementation since the mid 1980s, and to unfolding events in the international economic scene. These developments call for a systematic and consistent approach in the application and use of trade policy instruments in the process of building a competitive economy and striving for higher rates of growth. From the internal perspective, the policy draws upon the primary goal of the National Development Vision 2025, emphasising on poverty reduction and its ultimate eradication. In order to address the problem of poverty, it is necessary to attain and sustain a minimum GDP growth rate of 7% which in turn requires a minimum rate of 14% for trade growth. This highlights the importance of the international dimension in trade expansion strategies. Hence, from the international perspective, the policy draws upon unfolding changes in the MTS and emerging opportunities which can contribute immensely to the process of attaining and sustaining the high rates of economic growth that underpin strategies for poverty eradication. 3.1 TRADE POLICY VISION The role of the trade sector towards the realization of the national goal of poverty eradication will be attained through the structural transformation of the economy and enhanced productivity that will in turn contribute to the process of international competitiveness and lead to rapid economic growth. Vision is: à ¢Ã¢â€š ¬Ã‚ ¦ to transform the economy from a supply constrained one into a competitive export-led entity responsive to enhanced domestic integration and wider participation in the global economy through national trade liberalization. 3.2 MISSION Trade is not an end in itself but a means for achieving higher welfare to society, than would be possible without trade. The function of the trade sector, therefore, is to integrate the Tanzanian economy into the global economy through trade. This entails structural transformation of the national economy, and product/market diversification. Indeed, to sustain an economic growth rate above the 7% necessary for the achievement of the goals of National Development Vision 2025 depends on developing a modern export-led economy. High volumes of exports are necessary to achieve the goals of Vision 2025. Sustaining a high growth rate is a necessary but not sufficient condition for poverty eradication. Growth has to be complemented by broad-based equal opportunity of access to the primary assets of production land, education and finance for such growth to be translated into poverty eradication. The mission of the trade sector is therefore to: à ¢Ã¢â€š ¬Ã‚ ¦stimulate the development and gro wth of trade through enhancing competitiveness aiming at rapid socio-economic development. OBJECTIVES In accordance with the National Development Vision 2025, the goal of trade policy is that of raising efficiency and widening linkages in domestic production and building a diversified competitive export sector as the means of stimulating higher rates of growth and development. Five specific objectives emanate from and reflect this goal. The first specific objective is to stimulate a process of trade development as the means of triggering higher performance and capacity to withstand intensifying competition within the domestic market. This includes the establishment of improved physical market-place infrastructure and stimulating dissemination of market information and increasing access to the market. The second objective involves economic transformation towards an integrated, diversified and competitive entity capable of participating effectively in the MTS. The third objective entails the stimulation and encouragement of value-adding activities on primary exports as a means of increasing national earnings and income flows even on the basis of existing output levels. Fourth is the stimulation of investment flows into export oriented areas in which Tanzania has comparative advantages as a strategy for inducing the introduction of technology and innovation into production systems as the basis for economic competitiveness. The fifth objective is the attainment and maintenance of long-term current account balance and balance of payments through effective utilization of complementarities in regional and international trading arrangements as a means of increasing exports combined with initiatives for higher efficiency in the utilization of imports. The ultimate target is to enhance income generation and the peoples meaning power at the grass-roots level as the key to poverty reduction in fulfillment of the fundamental human right of equal opportunity for all citizens as enshrined in the constitution of the United Republic of Tanzania. CONSTRAINTS AND CHALLENGES FOR TRADE POLICY Tanzanias trade performance within a shrinking domestic market, in an increasingly liberalising economy that is converging with a deepening global market, is a source of concern. The essence of impediments against the growth and expansion of Tanzanian trade flow lies in supply-side constraints. The success of the envisaged trade development strategies depends on prioritising the implementation of measures addressing the totality of supply-side constraints. These constraints extend across the entire commodity/product value chains from production through processing and delivery to the consumer and encompass the full range of supporting services involved From the perspective of globalisation the same constraints assume the feature of two fundamental requirements: the need for raising the private sectors capacity to compete; and ensuring that benefits from the unfolding opportunities are accessible to broader segments of the society. Successful resolution of these demanding multidimensional constraints depends on prior determination of fundamental premises underpinning the development of production capacities including increasing access to the means of production and inherent challenges. The major fundamental premises and challenges include: establishing and sustaining an enabling business environment; development of hard and soft infrastructure; building capacity for market supporting institutions; creating the internal ability to participate in and influence changes in the world trading system; and promotion of private sector development in the context of supply-side capacity. ENABLING POLICY ENVIRONMENT The fundamental role of government is in providing the enabling policy environment that will facilitate the private sector in becoming the engine of economic activity and growth through efficiency and better performance. The Tanzanian Government is already implementing a policy entailing its withdrawal from direct involvement in economic activity to facilitate channelling of its resources in the conventional area of establishing and maintaining a conducive and enabling policy environment. Four categories of measures are involved in the process of creating an enabling environment: good governance; stability of the macro-economic framework; legal and regulatory framework reforms; and efficient economic regulation and competition policy. Good Governance Constraints and Challenges Good governance is a pre-condition for development entailing the existence of a combination of tangible and intangible attributes and functions of the government machinery. The intangible attributes refer to the well functioning of the state coupled with the institutional capacity to: maintain peace, law and order; create an atmosphere of tranquillity and confidence for investment; ensure individual liberty and equality before the law; ensure security of property and fair delivery of commercial justice; and provide adequate checks and balances in the exercise of power including transparency and predictability in public decision-making. For example the ongoing socio-political and economic reforms including broadening popular participation of the people in economic and political processes, and entrenching security of people are intended to enhance good governance. Likewise, major public and private sector investments in social and physical infrastructure aim at strengthening the capacity for efficient delivery of services necessary for competitive economic activities. However, its efficiency is hampered by a weak institutional framework for enforcement and execution. Strategy The Government is continuing with the implementation of measures aimed at strengthening its capacity to maintain good governance as its cardinal mandate including promotion of self-regulation through introduction of codes of conduct. Other measures will include extensive public awareness campaigns and moral persuasion targeting public and private sector active involvement and participation in good governance. Macro-economic Policy Environment Constraints and Challenges One of the prerogatives for attaining and sustaining high rates of economic growth is the establishment of an attractive, stable and predictable macro-economic environment for increased flow of investment and trade. This rests on the implementation of appropriate monetary and fiscal policies such as lowering and controlling inflation and the stabilization of interest and exchange rate Also it requires increased liberalisation of the operations of the financial, commodity and labour markets. In the sociopolitical sphere the observance of good governance, maintenance of peace, the rule of law and enhanced efficiency in the delivery of goods and services are of paramount importance. Strategy The Government will continue with the implementation of measures aimed at sustaining a conducive macroeconomic policy environment in its entirety as the basic condition for stimulating economic growth through increased investment and trade expansion. The Government will continue to strengthen its institutional and supervisory capacity for this purpose. This entails building a national consensus on the direction of fundamental macro economic policy variables combined with a deliberate change in the culture of government service towards increasing responsiveness to the needs of the business community. Legal and Regulatory Framework Constraints and Challenges The establishment of an enabling business environment entails a process of continuous adjustment of the legal and regulatory framework impacting on the performance of the business sector. Despite economic reforms sustained since the mid-eighties, there are still residual impediments that lead to high transaction costs. This discourages the inflow of foreign and domestic investment and hinders efficient trade sector performance. The envisaged legal and regulatory reforms seek to lower transaction costs, enhance business compliance and improve efficiency and competitiveness. The ultimate objective of legal and regulatory reforms is to protect the interests of consumers through enhancing the capacity of government institutions to perform their regulatory functions efficiently and by maintaining regulations only where they are necessary for this objective. Strategy The Government is expediting measures to stimulate international competitiveness through: (a) Reduction of unnecessary bureaucratic procedures that lead to high transaction costs for the business sector; (b) Facilitating and encouraging the development of private sector capacity to participate more effectively in the process of better regulation through public-private sector partnerships and improved advocacy. (c) Expediting the establishment of market-supporting institutions in the area of better regulation to ensure co-ordinated legal and regulatory reforms and improvement of commercial justice delivery. Economic Regulation and Competition Policy Constraints and Challenges Competition policy addresses the problem of concentration of economic power that can arise from market imperfections, monopolistic behavior in economic activities and consequent restrictive business practices. Restrictive business practices primarily affect the consumer through either higher prices and unacceptable quality standards or limitations on the availability of goods and services. Competition policy aims at perpetuating freedom of trade, freedom of choice and access to markets. Competition law is a component of competition policy prohibiting firms from engaging in anti-competitive behavior and abuse of dominant market position. The ultimate objective of economic regulation and competition policy is to protect the consumer through control of monopoly behavior on the part of producers. Tanzania has enacted three laws to govern competition and regulation of economic activity: the Fair Trade Practices Act of 1994; the Energy and Water Utilities Regulatory Act (EWURA) of 2001 and the Surface and Marine Transport Regulatory Act (SUMATRA) of 2001. The SUMATRA Act also amends the Fair Trade Practices Act to establish the Fair Competition Commission (FCC) in place of the Fair Trade Practices Bureau. The mandate of these Acts is limited to the regulation of natural monopolies in the utilities and communications sectors and does not cover activities in the social and economic sectors. Strategy The Government is expediting the implementation of Competition law under the co-ordination of the FCC and related regulatory institutions and promotes consumer protection through broad-based public awareness on consumers rights and obligations. Human Skills Development Constraints and Challenges The concept of human capital as a major factor of production is increasingly assuming importance. The development of human capital from the perspective of developing economies entails focusing on four factors: basic nutrition, education, health and protection against economic vulnerability. The level of access to formal education and technical skills in leading sectors is the determinant factor in human skills development. A relatively high level of education to a large segment of the population and good training in the different aspects of the economic environment and the trade development function are the prerequisites for a successful trade regime. The experience of the Newly Industrializing Countries (NICs) shows that the process of economic transformation was underlined by quality universal primary education, enrolment ratios higher than 25 per cent in secondary education and an average of 10 per cent enrolment ratio in tertiary and university education. Data for Tanzania indicates the magnitude of the task involved in the education sector in terms of raising the scope and outreach of secondary and university education to levels necessary for the realization of the goals of Vision 2025. For instance, at 6% the ratio of secondary school enrolment is the lowest in SSA. Performance in skills development and extension services has also remained below expectations and requirements with respect to production practices in key sectors particularly agriculture, tourism and small-scale mining. The level of skills is relatively low compared to other regional economies due to low enrolment ratios in formal education at the secondary and tertiary levels and curtailed training in production and value-adding activities for workers in key economic sectors. The pace of economic transformation in Tanzania depends on the rate at which society can absorb and assimilate modern production skills and technologies in areas where the nation has advantages in resource endowments. The importance of education and skills is crucial to the perception of technology as they encompassing better production and delivery techniques and practices rather than mechanization. At the sametime the legal framework prevailing in the labour sector contributes to the pace of development of an adequate pool of skilled labour. Existing labour laws retain the tendencies of a command economy characterized by lack of flexibility in hiring practices and over-protection of employees, and limited linkage between performance and remuneration. The daunting task of expansion of the outreach of the education sector in Tanzania is highly constrained by the implications of demographic features including the concept of demographic transition and the incidence of HIV/AIDs. Demographic transition refers to the rate of change of the rates of birth and death. The essence of the concept is that developing countries experience rapid population growth and changes in its dependency ratio. While the death rate has been declining, the rate of birth has been rising resulting in the increase in the dependency ratio. HIV/AIDS has become a major health problem as well as a serious impediment to socio-economic development through its impact in the reduction of the active labour force, in particular the human capital that underpins economic transformation, higher productivity and competitiveness. Strategies Education: With respect to education, the Government had planned to raise primary education enrolment ratio to 85% by the end of 2002 and increase the rate of transition from primary to secondary education from 15% prevailing since 1998 to 20% by 2003. Emphasis had been placed on training in business education and entrepreneurship at various levels of the education system. This thrust and tempo will be maintained in the medium and long term as a strategy to bridge the gap in the outreach of the national education system. Training: With regard to skills development and production techniques top priority will be accorded to extension services for agronomic and animal husbandry practices in agriculture where the highest potential for growth based on wide linkages across sectors prevail. This will include promotion of irrigation based on traditional and modern practices and mechanized farming as far as possible. The Government will also initiate measures to introduce better packaging and delivery practices in direct response to market expectations and demands. The Government will take measures to contribute to market linkage programmes that aim at stimulating trade development through product and market diversification based on introduction of new product and new processes for value-adding activities. Labour laws: The Government is reviewing prevailing labour laws and regulations to induce the evolution of labour practices that conform to market practices that link merit, efficiency and productivity to rewards and flexibility in employment to reflect the principles of free entry and exit into industry. Labour law reforms will adhere to obligations from the International Labour Organisation. The Government will implement social sector policies aimed at the development of human capital through creation of a large pool of trained and trainable labour force as the base of structural transformation of the economy. HIV/AIDS: The government will implement a broad-based strategy of raising awareness on the scourge of HIV/AIDS and the incidence of demographic transition and encourage change in social behavioral patterns. Towards this end, emphasis will be placed on the instruments of moral persuasion and social responsibility based on accountability and self-determination rather than laxity and social permissiveness as the key to stimulating change in cultural patterns, attitudes and habits. Finally increasing accessibility to income generating activities for socially vulnerable groups will be one of the pillars to address the problem. Private Sector Development: The private sector is now formally recognized and accepted as the producer of goods and lead provider of services for the domestic and export markets and consequently the leading employer and primary vehicle for poverty eradication. The thrust of socio-economic reforms undertaken since 1995 highlights the determination to build a vibrant private sector for this purpose. Strategy The Government is developing a Private Sector Development Strategy (PSDS) to ensure broad-based and inclusive participation in production and trade and will expedite its adoption and implementation. The strategy entails the establishment of an enabling business environment through better regulation; increased private sector access to capital including titled-land, education, skills and entrepreneurship as well as provision of business support services in management, production and marketing. Institutional Capacity Building Institutional capacity building amongst the key public and private sector stakeholders in the trade policy process is the key to successful implementation. Performance in public institutions, including the Ministry of Industry and Trade (MIT) and its supporting agencies, and in business sector associations that serve the private sector, such as the Tanzania Private Sector Foundation (TPSF), Confederation of Tanzania Industry (CTI) and Tanzania Chamber of Commerce, Industry and Agriculture (TCCIA), reflects major cultural and operational weaknesses, often associated with the mind-set. These include lack of proactive initiative in identifying and addressing problems, low analytical capacity, low commitment to work and poor co-ordination. There is evidence of lack of appropriate experience to amend or repeal obsolete laws and make better and simpler regulations to facilitate enforcement on the part of the public sector, and lack of analytical capacity to advocate for requisite change on the part of the private sector. Strategy The Government will undertake capacity building needs assessment to identify institutional complementarities and gaps. Priority will be accorded to private sector capacity for analysis and advocacy in influencing policy formulation and implementation. Twinning of indigenous institutions with overseas counterparts will be explored and utilized to facilitate rapid movement along the learning curve. Transformation of Production Capacity Agriculture remains the backbone of the Tanzanian economy with over 80 per cent of the population dependent on this sector. It remains a source of employment to 75 per cent of the population, contributing 50 per cent to GDP and about 70 per cent of export earnings. Leaving the economy dependent on traditional agriculture, which in turn is dependent on the whims of nature and fluctuating terms of trade, makes the path of development unstable and unpredictable. Success of this trade strategy in the context of the goal of Vision 2025 depends on strategies for the transformation of agriculture. The revival of the agricultural sector is constrained by lack of support to facilitate technology diffusion for modern agronomic practices to raise productivity and slow response by foreign investment culminating in stagnation in the development of the private sector and agribusiness. Specific constraints include: limited access to extension services, inputs and credit facilities necessary to stimulate product diversification; weak market linkages due to poor infrastructure; and lack of market knowledge and information necessary to facilitate market diversification. There is need to modernize production practices in the designated lead sectors of mining and tourism and other priority sectors such as industry and transit trade. Such modernization depends on application of modern technology on the national resource base. Enhancing competitive value-adding capacity in these sectors is the key to transformation of economic activity. Strategy The Government will prioritise measures for agricultural transformation through implementing the Agricultural Sector Development Strategy (ASDS) of 2001. One priority aspect is to ensure a net-inflow of resources into the sector to facilitate transformation of production technologies through wider research and dissemination of research results and better extension services. The government will also encourage investments in commercial farming and agro-processing industries as growth poles of the sector through out-grower and contract farming schemes and other market linkage relationships. Other measures include the promotion of industrialization through investment in Export Processing Zones (EPZs) and Industrial Parks. The Government will also encourage the channelling of investment resources to non-traditional sectors, in particular

Sweden’s Industrial Relations :: Economy Economics Politics Goverment Essays

Sweden’s Industrial Relations Sweden, like the other Nordic countries (Finland, Norway and Denmark) has long been associated with the epitome of the welfare state. This region of the world and Sweden in particular, is well known for its strong labor unions and high union participation. According to the CIA, 91% of the Swedish labor force was unionized in 1998 (Virà ©n 201). The strong unions in turn elect government officials who tend to be leftist and support unionization and union power, thus erecting the welfare state that is modern day Sweden. An analysis of the labor organization and industrial relations of Sweden gives great insight into the fluctuations of the Swedish economy as well as the mindset of the Swedish leaders setting economic policy. Sweden was governed continuously by the Social Democratic party from 1932 until 1976 and the Social Democrats would return to power periodically from the 80’s to the present day. Such a long and continuous period of governance sheds light on two important factors: 1) Swedish citizens are highly in favor of the welfare state to elect officials of the Social Democratic party over and over again and 2) the welfare state is deeply ingrained in the Swedish governance structure. Jan Bohlin agrees that â€Å"the long era of Social Democrat governmental rule has obviously left its imprint on Swedish society and the 1930s can be seen as the initial phase of an economic political model that matured after the Second World War† (160). Bohlin separates Swedish economic history into four distinct periods. The first between 1880 and the First World War saw the Swedish government spend heavily on infrastructure. The second, starting in the 1930’s and ending in the 1960†™s, the government began using policy to influence economic development and prevent economic downturn. The third, between 1960-80, was characterized by more selective yet ambitious government intervention in industrial relations. Finally, the fourth period, beginning in the 1980’s, sees the government returning to more market solutions (152). It is the second of Bohlin’s four periods that labor unions began to make their rise in Swedish society. As Evelyne Huber suggests, â€Å"conditions in Scandinavia have thus been very favorable for social democracy and their affiliated unions: the economics of all four Nordic countries are small; all are religiously homogenous and Proestant; and only Finland is linguistically divided† (116).

Law in Malaysia

Law is a system of rules and guidelines, usually enforced through a set of institutions. It shapes politics, economics and society in numerous ways and serves as a social mediator of relations between people. For example, Contract law regulates everything from buying a bus ticket to trading on derivatives markets and Property law defines rights and obligations related to the transfer and title of personal and real property and so on. Then, Natural law or the law of nature (Latin: lex naturalis) has been described as a law whose content is set by nature and is thus universal. As classically used, natural law refers to the use of reason to analyze human nature and deduce binding rules of moral behavior While Rule of Law is the absolute supremacy of the law over everybody, both the rulers and the ruled. The rule of law is a legal maxim that provides that no person is above the law, that no one can be punished by the state except for a breach of the law, and that no one can be convicted of breaching the law except in the manner set forth by the law itself. NATURAL LAW The unwritten body of universal moral principles that underlie the ethical and legal norms by which human conduct is sometimes evaluated and governed. Natural law is often contrasted with positive law, which consists of the written rules and regulations enacted by government. The term natural law is derived from the Roman term jus naturale. Adherents to natural law philosophy are known as naturalists. Naturalists believe that natural law principles are an inherent part of nature and exist regardless of whether government recognizes or enforces them. Naturalists further believe that governments must incorporate natural law principles into their legal systems before justice can be achieved. There are three schools of natural law theory: divine natural law, secular natural law, and historical natural law. Common law in Malaysia takes the form of Natural law RULE OF LAW: The Rule of Law, in its most basic form, is the principle that no one is above the law. The rule follows logically from the idea that truth, and therefore law, is based upon fundamental principles which can be discovered, but which cannot be created through an act of will. The most important application of the rule of law is the principle that governmental authority is legitimately exercised only in accordance with written, publicly disclosed laws adopted and enforced in accordance with established procedural steps that are referred to as due process. The principle is intended to be a safeguard against arbitrary governance, whether by a totalitarian leader or by mob rule. Thus, the rule of law is hostile both to dictatorship and to anarchy. The rule of law in its modern sense owes a great deal to the late Professor AV Dicey. Professor Dicey's writings about the rule of law are of enduring significance. The essential characteristic of the rule of law are: i. The supremacy of law, which means that all persons (individuals and government) are subject to law. ii. A concept of justice which emphasises interpersonal adjudication, law based on standards and the importance of procedures. iii. Restrictions on the exercise of discretionary power. iv. The doctrine of judicial precedent. v. The common law methodology. vi. Legislation should be prospective and not retrospective. vii. An independent judiciary. viii. The exercise by Parliament of the legislative power and restrictions on exercise of legislative power by the executive. ix. An underlying moral basis for all law. Legislative Authority – Source of Primary Legislation- Malaysia Legislative authority is the power to enact laws applicable to the Federation as a whole under Article 66(1) of Federal Constitution. At Federal level, the legislative power is vested in a bicameral Parliament headed by the  Yang di-Pertuan Agong  and comprises the  Dewan Negara  (House of Senate) and  Dewan Rakyat  (House of Representatives). The  Dewan Negara  has 70 members, of whom 44 are nominated by the  Yang di-Pertuan Agong, and 26 elected by the State Legislative Assemblies. The  Dewan Rakyat  is fully elected and has 219 members. The duration of the life of each Parliament and State Legislatures is about five years and is split into one-year sessions, after which the session is terminated or prorogued usually in September. The distribution of law-making authority between the Federal and State Governments is enumerated in the Ninth Schedule of the Federal Constitution; and is set out in a Federal List, State List and a Concurrent List. The main subject areas of the Federal List are external affairs, defence, internal security, civil and criminal law, citizenship, finance, commerce and shipping industry, communications, health and labour. EXECUTIVE AUTHORITY – Source of Subsidiary Legislation Malaysia The Executive is vested with the authority to govern and administer the laws by way of delegated and drafts Bills as provided under Article 39 of the Federal Constitution. The power to govern that is vested in the  Yang di-Pertuan Agong  is however exercisable by a Cabinet of Ministers headed by the Prime Minister. The Cabinet is answerable to the  Yang di-Pertuan Agong  as the head of Executive Authority in the country. Each executive act of the Federal Government flows from his Royal authority, whether directly or indirectly. However, in accordance with the principle of a democratic ruling system, the Chief Executive is the Prime Minister. The  Yang di-Pertuan Agong  appoints a Cabinet – a council of Ministers – to advise him in the exercise of his functions. It consists of the Prime Minister and an unspecified number of Ministers who must all be members of Parliament either the  Dewan Rakyat  (House of Representatives) or  Dewan Negara  (House of Senate). The Ministers hold different portfolios and are collectively responsible for all decisions made by the Cabinet, which is the highest policy-making body in the country. Judicial Authority – Source of Case Law The Judiciary is empowered to hear and determine civil and criminal matters, and to decide on the legality of any legislative or executive acts as provided under Article 125A of the Federal Constitution. It is also conferred authority by law to interpret the Federal and State Constitutions. The courts can pronounce o n the validity or otherwise of any law passed by parliament and they can pronounce on the meaning of any provision of the constitution. The jurisdiction of the Malaysian courts is determined by the Courts of Judicature Act 1964 for Superior Courts and the Subordinate Courts Act 1948 for Subordinate Courts The Malaysian Courts of Justice are made up of the Superior Courts and the Subordinate Courts. The Superior Courts comprise of the Federal Court (the highest court), the Court of Appeal and the two High Courts. By virtue of Act 121(1) of the Federal Constitution judicial power in the Federation is vested on two High Courts of Coordinate jurisdiction and status namely the High Court of Malaya for Peninsular Malaysia and the High Court of Borneo for Sabah and Sarawak. ———————————————— In conflict with natural law Upholding the rule of law can sometimes require the punishment of those who commit offenses that are  justifiable  under  natural law  but not statutory law. Heidi M. Hurd  raises the exam ple of a  battered woman  who rightly believes that there is a strong probability that her husband will eventually attempt to kill her and her children unless she  preemptively  kills him. If the law does not permit the acquittal of those who claim  self-defense  in the absence of an  imminent threat  of harm, then the woman must be punished, or â€Å"what will become of the rule of law? For law seemingly ceases to be law if judges are entitled to rethink its wisdom in every case to which it applies and to disregard it whenever it is inferior to the rule that they would fashion. † http://www. nyulawglobal. org/Globalex/Malaysia. htm#_2. _Legislative_Authority