THE LEGAL ENVIRONMENT OF BUSINESS Essay Example | Topics and Well Written Essays - 1250 words

THE LEGAL ENVIRONMENT OF BUSINESS - Essay Example More to the point, Arthur Andersen partnership was also dissolved at the time. Arthur Andersen was one of the five biggest audit and accountancy firms globally during the scandal (Li 37). Enron executives, particularly Jeff skilling as well as Andy Fastow, were key to Enron plunging into bankruptcy as well as ultimately dissolution. The acts include: market to market accounting as well as special purpose entities (SPE’s). None of these acts was illegal; however they were employed in illegal business plans (Mackey and Kristine 349). Enron Corporation was an American company based in Houston, Texas. What's more, Enron being one of the most prominent companies in the globe, it was also one of the companies that collapsed very quickly. Over and above, being the biggest liquidation reform at one time, Enron scandal was undeniably the largest audit letdown in American history (Li 37). This paper examines why the Enron scandal occurred? Whether the investigations into the scandal wer e fair? How the scandal was discovered? What went wrong? And what internal controls failed? Enron Corporation was established in 1985. Enron was as one of the globe's leading company dealing with natural gas, electricity, pulp and communications ahead of being declared bankrupt in October 2001. Enron was nearly universally regarded as one of the country's most innovative companies in the late 1990’s; a new-economy nonconformist that abandoned stuffy, aged industries with their bulky hard assets for the lax world of e-commerce. Enron persistently operated gas lines as well as built power plants, however it gained prominence for its distinctive trading businesses. In addition buying and selling gas plus electricity futures, it established whole new markets for such nonconformist merchandise as weather futures, Internet bandwidth as well as broadcast time for advertisers (Li 37).Very few people were acquainted with precisely what Enron's business was. Bethany McLean, a reporter for Fortune, inquired, â€Å"How exactly Enron made its money?† The question is hard to answer; the "particulars are difficult to get hold of as Enron keeps many of its details secret for what it terms 'competitive reasons.'" a different analyst remarked, "Enron is a big black box." Hence, even Wall Street had very little information about Enron's actual business practices. However, Enron is not unique in this regard. Enron akin to the majority corporations, operated relatively independently by opposing transparency and stakeholder participation (Brenan 35). Jeffrey Skilling proposed market to market accounting is a scheme to increase stock prices, hide Enron’s losses as well as attract new investment. The market to market scheme entailed that once a long-term contract was signed, the amount of which the asset supposedly would trade on the future market is reported as profit in the present financial statement. So as to soothe the investors to maintain a steady profitin g condition at Enron, traders at Enron were forced to predict low discount rate on the long-term contract with Enron as well as high future cash flows. The variation amid the computed net current value and the initially paid value was viewed as the profit of Enron. However it is unfeasible to gain in a long-term operation manner, and so it is evidently illegal furthermore immoral. Additionally, it was reported that the US Security and Exchange Commission (SEC) at the time permitted Enron to employ mark to market account

Sovereign Funds Investment in Qatar and Dubai Term Paper

Sovereign Funds Investment in Qatar and Dubai - Term Paper Example Due to SWFs importance gained in the recent times many researches are being conducted in order to deal with the concerns and problems identified in its current position and in the expected growth that is to occur in future. Sovereign Wealth Funds (SWFs) and Investment: Sovereign funds investment is a government owned and controlled investment fund. Such an investment fund is called Sovereign Wealth fund (SWFs). There is no one accepted definition of SWFs; however these funds are usually funded by fiscal (government) surpluses or foreign exchange reserves. The sources of foreign exchange reserves could be profit and surpluses from exports of commodities and other means like investment in international markets. Government is involved in various revenues generation activities, the revenue obtained can be invested within the country or sometimes it is invested in foreign countries. The investment of these funds is put up in foreign financial assets like stocks and bonds of different inte rnational companies. (Truman, Edwin.M. 2010) Establishment of Sovereign Wealth Funds in Qatar and Dubai: About 60% of the SWFs were formed after 2004 when the oil and gas sector faced a sudden boom and the countries involved in exports of these commodities piled up large reserves of foreign exchange. ... Qatar’s SWF is known as ‘Qatar Investment Authority’, established in 2005; while Dubai’s SWF is called â€Å"Investment Corporation of Dubai†, established in 2006. The total funds of Qatar Investment Authority and Investment Corporation of Dubai are 70 and 82 billion dollars respectively in 2009-2010. (Truman, Edwin.M. 2010) Structure of Sovereign Wealth Funds in Qatar and Dubai: The Persian Gulf countries dominate global SWFs. UAE, Saudi Arabia, Kuwait, and Qatar combined accounts for more than half of the world’s assets. Researches show that regardless of countries have a current account deficit or surplus, SWFs are generally associated with countries involved in exports of oil, gas and natural resources and have piled up large foreign exchanges due to these exports. Qatar and Dubai invest most of its foreign exchange reserves directly in SWFs international assets and therefore do not have large reported foreign exchange reserves. These coun tries buy dollars and invest in SWFs internationally rather letting their exchange rate appreciates. Oil sales being dollar- denominated has made it easier for the gulf countries. This leads to drop in the value of dollar due to excessive dollars in the market which results in preserving the value of SWFs when expressed in local currency terms. In 2008 UAE reported US$ 751 billion in its SWF international assets and only US$ 32 billion as foreign exchange reserve while Qatar showed US$ 70 billion in its SWF international assets and only US$ 10 billion as foreign exchange reserve which showed their positions relatively low on foreign exchange to GDP ratio in comparison with countries which reports large amount of

What exactly do groupworkers do and what do their groups seek to Essay

What exactly do groupworkers do and what do their groups seek to achieve - Essay Example (Steinberg, pp. 43-45, 2004) In this regard, a large number of professionals have encouraged the practice of working in groups, which has proved to be very effective and efficient in terms of achieving the goals and objectives. In this paper, different aspects of group working will be defined, discussed, and analyzed for the better understanding of the theory of group working, which has resulted in a number of accomplishments of organizations, as well as, individuals in different parts of the globe. In terms of definition, when the people work together in a cooperative environment, it has been referred as group work. Some of the examples of such cooperative environment can be observed in sport, such as squash, football, cricket, where people have to work together to accomplish a single objective, as well as, work for their individual improvements. In some of the perspectives, group work has been distinguished from the teamwork; however, various experts have not agreed with such theory and considered them as a single theory and practice. Accomplishment of a common objective is required in most of the projects, which require the people to work together. (Ephross, pp. 19-20, 2005) Therefore, most organizations, companies, institutions, etc. consider group work or teamwork as an important and unavoidable factor of the success. A team environment usually requires collaborative skills of different group workers that can be employed in an effective manner. In this regard, communication plays a vital and crucial role in the employment of such skills. Consequently, training workshops are organized and arranged by most of the organizations and institutions to improve and enhance the mutual skills and strategies of the employees to acquire an effective and noteworthy place in the fast growing world. In the present rapid modification of the surroundings, group working plays a crucial role for achieving success by

Maybelline new york Essay Example | Topics and Well Written Essays - 250 words - 1

Maybelline new york - Essay Example Originally, the mascara from Maybelline came in black color only because it was targeted at giving the eyelashes darker fuller look. Today, variety in terms of color has become an important and unique feature of the Maybelline Cake Mascara. The variety that exists with the colors actually forms what I like most about the company’s product. As far as fashion and quality dimensions are concerned, it can be said that there is so much justification and validity with the having different colors for the mascara. This is because as people adorn different types and colors of clothing, they have become aesthetically concerned with having matches for their clothing by way of how most other parts of their bodies appear, including their hair, eyebrows, and lately eye lashes. From every indication, Maybelline has taken fashion to the next level and this level is the dynamism with which conformation and harmony can be achieved through

American History Essay Example | Topics and Well Written Essays - 1250 words - 5

American History - Essay Example Fernlund states that one of the conditions for becoming a world power was to have a large, standing army (161). The expansion and might of the United States’ sea power was exemplified in 1899, when the U.S was able to conquer the Spanish in the Philippines. The war with Spain was orchestrated by the fact that Spain was drawing closer to the United States frontier at California. The United States was, thus forced to fight off the Spaniards and in the process ended up acquiring the Philippines. The assertion of U.S rule on the Filipino led to American imperialism, a factor that further established the position of the U.S as a growing world power. The U.S became openly involved in world affairs. The most significant of this and which probably led to the United States becoming a world power was World War 1. Fernlund states that as a matter of foreign policy, the U.S had opted to remain neutral in the war (178). Nonetheless, when the Germans started a submarine warfare, sinking enemy and neutral vessels, the U.S joined the war on the Allied side. The victory of the Allies over the central powers and the role played by the U.S cemented the position of the latter as a world power. 1. 21-2. In his work, Mahan’s was concerned over the lack of sea power by the United States to defend herself in case of danger. Fernlund states that Mahan argued that incase of danger, the U.S could be forced to establish a blockade on her extensive sea-coast, a deed which needs a standing naval army (162). More sea power would, thus ensure that the United States stayed clear of harm’s way and that trade and commerce would not be affected by an external war. The work of Mahan led to increased military buildup in the U.S by the close of the century that saw the U.S defeat Spain in the Philippine war. It is the same sea power that enabled the U.S to participate in the First World War. 2. 21-4. Twain was a critic of the American annexation of the Philippines and his article led to the

Strategic Marketing Essay Example | Topics and Well Written Essays - 3250 words

Strategic Marketing - Essay Example In the above statement, he emphasized on the imagination of people for bringing new product development with innovative technologies. In the gradual development of globalization, the technological advancement is one of the most vital factors. The process of globalization has led to change the thoughts, views and opinions of human beings and they become more capable of imagining which was once considered to impossible (Samli, 2011, p.125). The capability of imagination is the most powerful strength of mankind that has brought significant developments. Basically, the imagination acts as a tool for inspiration and it motivate people to be innovative. In this regard, Morgan has commented correctly that â€Å"imagination motivates people to climb mountains, to paints pictures and to win races† and people are applying their imagination in the field of business management (Morgan, 2001, p.79). The greatest innovation in the world is a successful outcome of imagination. People may pos sess necessary technological knowledge and expertise or necessary monetary requirement. No doubt that these factors are indispensible for product development but the first priory is creativity based on with the technological knowhow is applied for practical implications. Archytus of Taremtum, the great mathematician during 400 B.C. imagined and created a wooden bird which was able to fly. Finally, in 1950s, George C. Devol first invented and patented modern robot which was based on imagination developed by Archytus 400 B.C ago. There are also an ample numbers of such examples that proves that imagination is prime factors behind development of new products (Patel, 2011, p.5). Question 3 â€Å"Evaluation consumes high proposition of... The researcher states that in the process of strategic business management, evaluation is one of the most critical steps for any company. In the process of evaluation, the effectiveness of implemented strategies and performances of each responsible employee are assessed for further betterment of entire situations. The performance evaluation of each employee is helpful in identifying the areas of improvements though proper performance appraisal methods. These performance appraisal methods are also meant to offer promotions, higher remunerations and incentives. The process of evaluation affected time and energy of marketing executive that can be used for more productively. The task of marketing executives generally includes the development of marketing campaigns and promotions of products and services for generating higher amount of sales. Their tasks are very challenging and they have to use their creativity to attract the target audience and target market. Creativity comes from the i magination and for motivating the marketing executive to think creative marketing ideas, it is necessary to provide sufficient time and energy. In the evaluation process consumes the time and energy of each employee including marketing executive. Therefore, the management must consider such drawbacks of evaluation for marketing executives. William R. King have identified that performance appraisal of marketing executives are difficult to interpret as task of marketing like creating ideas cannot be directly quantify.

Discussion 2 Article Example | Topics and Well Written Essays - 250 words

Discussion 2 - Article Example t will require continued changes in the nursing practice because the learners and faculty have to learn how to respect the diverse population with different beliefs and values. As noted by Diekelmann, (2012) in page 6, there is also a shortage of nursing faculty which has a constraint on nursing education. There are also changes in student demographics because the racial and ethnic diversity among students in schools is increasing. In addition, students are now entering nursing schools at older ages with different work experiences. Many are raising families and there are those with full-time careers. This has a constraint on their education because it needs a lot of flexible schedules. The other factor affecting nursing education is the technological explosion in the health sector. A look at the current scenario in the health care sector shows that there is rapid growth in technology resulting to a radical impact on how nurses get educated (Willis Commission on Nursing Education, 2012). It has promoted the technological applications for example, telemedicine. Therefore, nurses in this century not only have to learn on concepts of health promotion, reduction of risks and disease prevention among others but need to be skilled in the use of computers. There is also distance learning that links students from different locations with the nursing faculty. The advancing technology continues to stimulate the critical thinking of students and their acquisition of skills in environments which are