Executive Summary Proper coordination is important for the success of an organization. Therefore, organization design and structure require attention. Aquarius Advertising Agency is a marketing firm that operates under a traditional organization structure. This means that each department has its own functional unit.
The firm has ineffective coordination thus; the human resource manager should develop strategies that address the needs of the firm.
To begin with, Aquarius Advertising Agency has problems concerning the design and the structure. The firm lacks a separation between governance and operations. This means that employees involved in quality assurance and auditing do not subsist.
Furthermore, role definition is absent yet it is imperative for proper functioning of the firm. Moreover, the firm has a wide span of control that creates havoc. Lastly, the current existing structure, which is functional in nature, does not work because of slowness in decision-making process, ineffective communication as well as many hierarchical levels with unbalanced authority and responsibility.
The proposed solutions concentrate on either alleviation or minimization of the problems. Separation of governance and operations will assist the firm to produce and maintain high quality services.
Moreover, role description will alleviate conflicts of individual interests that usually lead to dissatisfaction of most employees. Besides, Aquarius Advertising Agency should shorten its span of control for easier management of the organization.
Lastly, to address the issue of unsuccessful organization structure, Aquarius Advertising Agency should decentralize its processes, create a balance between authority and responsibility as well as develop effective communication process that follow the hierarchy of command. If the implementation of these solutions take place, Aquarius Advertising Agency is likely to succeed in the competitive business environment.
Get your 100% original paper on any topic done in as little as 3 hours Learn More Introduction An organization usually performs a number of activities, which require proper coordination without which the company is likely to collapse. Aquarius Advertising Agency is a firm that deals with customized and complete plans. Customized plans involve advertising using slogans and layout while complete concerns the media.
Besides, promotional services include assistance in marketing as well as distribution of products. Additionally, the firm conducts research to analyze the effectiveness of advertising.
The firm operates in a traditional manner under a functional organization structure. Therefore, each department has similar functions. For instance, each department has its own hierarchical and professional systems. Therefore, a formal line of authority and responsibility exist in each department.
Moreover, specialized communication involves sharing of skills, experience and knowledge. Additionally, each unit manages its procedures and processes. Thus, account executives feel neglected.
On the other hand, customer coordination is ineffective. For instance, communication occurs directly from customers to specialists instead of passing through the account executives. Additionally, informal communications exist and some of them lead to formal meetings. For instance, direct communication usually takes place between the specialists and the customers.
My role as a human resource manager would be to meet the set strategic needs of the firm. The strategies would focus on effective and efficient organization design and structure. This includes effective communication, a clear line of authority and responsibility as well as customers and employees satisfaction.
The problem Organization design
According to the case analysis, separation between governance and operation does not exist. For instance, customers communicate directly with the specialists. The organization has account executives who should act as a link between the customers and the Aquarius advertising agency.
We will write a custom Report on Aquarius Advertising Agency specifically for you! Get your first paper with 15% OFF Learn More Therefore, it is not a matter of organization lacking the required personnel. The Aquarius advertising agency depends on processes so that it can maintain an excellent relationship between the customers and the firm. Given that the Aquarius advertising agency is in the marketing field, this is unacceptable.
Mintzberg (2009) explains that organization design require to separate governance and operations. According to the case analysis, there is an amalgamation of governance and operation. This is the reason why the some informal meetings lead to contact between the customers and the Aquarius advertising agency personnel who make some presentations, interpretations and policy definitions.
It is evident that in the Aquarius advertising agency, role definition does not exist. As a result, some people have individual roles. This is the reason why the account executives are complaining that their roles are not recognized.
For instance, one of them said that it is hard to manage people who think they are doing their own things by attempting to sell their own ideas to the customers. He continued by reporting that if he was a dictator, he would make them pass through him before they offer any service to the clients. This scenario show that role descriptions of the account executives do not exist.
According to Zeffane (2008), role description is important as it help employees perform their duties according to the set goals and objectives. Since the Aquarius advertising agency does not have a clear role definition, the probability of increase in employees’ turnover is high.
This is because some employees are tired, bored and lack motivation. For example, the account executives are bored and lack motivation because the specialists have hijacked their roles. This is the reason why they have resigned to fate and wish that they could be dictators.
Additionally, the organization structure has unnecessary layers. Unnecessary layers slow the decision making process (Ulrich, 2008). This is the reason why the issue of informal communication between the clients and the specialists has not received any attention.
Additionally, no one has attended to the needs of the account specialists. With time, people will leave the Aquarius advertising agency because they will feel that they are not of value.
Not sure if you can write a paper on Aquarius Advertising Agency by yourself? We can help you for only $16.05 $11/page Learn More Moreover, the span of control of Aquarius advertising agency is wide. This is because the firm has several lines of authority. For instance, a client should pass through the account executive before reaching the specialist. This process is too long. As a result, customers bypass the hierarchy to ease the process.
This has created havoc in the company. In a survey conducted, Lorsch (2010) argues that in a stable environment, a number of hierarchies are necessary but if it is unstable, the scalar chain should be as short as possible.
According to the current organization design, the hierarchy is long yet the Aquarius advertising agency is unstable. This is the reason behind chaos and lack of transparency in Aquarius advertising agency. This is why a specialist can offer presentations and education to the clients without consulting with the president.
The current organization structure
The current structure of Aquarius advertising agency is functional. A functional structure is one where the grouping of people is according to the work that they perform (Anand, 2007). It includes groups that concern marketing, production, human resource as well as finance.
In the Aquarius advertising agency, the groupings entail purchasing, human resource, merchandising, distribution and finance. Therefore, each department has a similar function. As a result, each department has its own authority and responsibility. For instance, account vice president leads the account department.
Thus, he heads the account and executive departments. The operation vice president is the head of all the operations that take place in the Aquarius Advertising Agency. The operation vice president heads the production, copy and art departments. Finally, the marketing vice president heads the research, media and merchandising departments.
The vice presidents report to the executive vice president. The executive vice president reports to the president. Finally, the president is answerable to Board of directors. Additionally, the human resource and the financial managers are in the same line of authority.
Above them are the legal counsel, executive vice president and policy committee who perform similar functions, as they possess the same authority and responsibility. The overall in charge of the Aquarius Advertising Agency is the board of directors. Therefore, every person in the firm must report any issue to the board through the described scalar chain.
Why the existing structure does not work
To begin with, the existing structure does not work because of the slowness in decision-making process. According to McMaster (2007), decision-making process in such a structure is usually slow because of the many levels of authorities.
For instance, if the media department has a problem pertaining advertisement, it has to go through the marketing vice president, human resource manager, legal counsel, the president then board of directors. All these people have to discuss the issue before a solution is given.
As a result, time is wasted. Additionally, the process is slow and tiresome. In the event that the affected department is not consistent with the follow up of the problem, the company is likely to collapse.
Another reason behind the failure of the existing structure is ineffective communication. In such a structure, information should flow systematically from the customer, to the specific department, then the vice president following the same hierarchy until the board of directors receives the information.
This process is very long and as a result, Aquarius Advertising Agency is using shortcuts to fasten the communication process. For instance, customers communicate directly with the specialists.
This direct communication has led to dissatisfaction of some workers who feel that other people do not respect their authority and responsibilities. For instance, the account executives feel that other workers are ignoring their role, which is liaison between the customers and the specialists.
Lastly, this structure does not work because of the many levels of commands. According to Knudsen ( 2008), many hierarchical levels lead to difficulties in changing the needs of the customers. For instance, it may be difficult for a client with a problem concerning finance to have his needs receive satisfaction.
This is because of the long level of command that the account executive has to follow. Additionally, the concerned department does not have authority and responsibility to make some decisions.
For instance, the account executive may have the required knowledge of dealing with the customer’s problem but lack the appropriate authority and responsibility. As a result, a simple problem may consume a lot of time before the finding of the solution.
The proposed solution Aquarius Advertising Agency requires performing a number of activities concerning organization design and structure to address the problems experienced by the firm. The main solution is organization restructuring.
Stacy (2010) explains that organization restructuring assist an organization to alleviate existing problems via provision of solutions that address the management issues. Therefore, organization restructuring should concentrate on authority, responsibility, role descriptions, scalar chain, communication and decision making process.
To begin with, Aquarius Advertising Agency needs to separate governance and operations. This means that management functions should be different from the processes. Zeffane (2008) argues that a separation between governance and other functions result to an organized firm. Examples of governance functions include quality control and assurance as well as auditing.
These functions are imperative in ensuring that an organization is on the road to achieving its vision and mission. Therefore, Aquarius Advertising Agency should create quality control and assurance as well as auditing functions. These functions will ensure that the firm is addressing the needs of the employees and the customers.
For instance, in the presence of such functions, complains, as those portrayed by the account executives will be outdated. Additionally, employees should have chances of assessing their own tasks to ensure that they are providing services that are of high quality (Handy, 2009). This will alleviate a situation where the employees feel that they are not of value to the Aquarius Advertising Agency.
Moreover, managers should perform their function of supervision to ensure that employees are doing the right things according to the laid down principles and rules. For instance, if managers of the Aquarius Advertising Agency were performing their roles effectively, they would have realized the existence of informal communications and meetings.
Furthermore, Aquarius Advertising Agency should develop role description that contributes to the achievement of the organization mission. According to Ulrich (2008), role description assists each employee to know his scope of works. Role description is important in Aquarius Advertising Agency because it will assist in the alleviation of individualization.
Individualization is a system where employees perform roles that favor their interests and not that of the organization (Stacy, 2010). For example, the arrangement of informal meetings benefits the specialists and not the chief accountants. Additionally, the chief executives do not have a clear role description.
This is the reason why other employees bypass their liaison role. As a result, Aquarius Advertising Agency need to define and describe the roles of each employee and make them familiar to every person in the firm. By doing so, the problem of role conflict will not occur again.
Additionally, the Aquarius Advertising Agency should narrow its scalar chain. This is because a short hierarchy of command makes the control the organization operations easier (Lloyd, 2008). Additionally, it reduces the shortcuts that usually result to informal meetings and presentations.
For instance, if Aquarius Advertising Agency had a short hierarchy of command, the specialists would consult with the president rather than having their own informal meetings and communications.
Additionally, the account executives would report their grievances rather than sitting back and grumble. Therefore, a short hierarchy of command is significant for the proper functioning of the Aquarius Advertising Agency.
To solve the problem of organization structure, Aquarius Advertising Agency requires decentralization process. This is a process where the lower level of management can make decision (Knudsen, 2008). It is important because if fasten the decision making process. For instance, the head of the art department should have the ability of making some decisions without consulting the president.
Additionally, different heads of departments should have authority as well as responsibility. According to Handy (2009), authority is the power to do something while responsibility is the obligation of performing a task. Therefore, employees should have authority that match with a specific responsibility.
This will help the Aquarius Advertising Agency to serve customers effectively. This is because it will lead to a reduction in problems associated with a long hierarchy of command. For instance, a chief executive who has authority and responsibility can address the customer financial issues without going through the scalar chain up to the board of directors.
Finally, Aquarius Advertising Agency should develop effective communication process. An effective communication process has a unity of direction and it assist in alleviation of situations where some employees are bypassed (Anand, 2007).
Therefore, Aquarius Advertising Agency should lay down the communication procedures from the top to the bottom and vice versa as well as horizontally and diagonally. This will reduce the chances of informal communication among employees and customers as well as the workers and the organization.
Conclusion Organization design and structure is imperative for the success of a firm. The Aquarius Advertising Agency is a marketing firm that requires organization restructuring because of the many problems that it is facing.
For instance, problems concerning the organization design include separation between governance and operations, lack of role description and a wide span of control. On the other hand, it has an existing structure that does not work due to a variety of reasons.
They include slowness in decision-making process, ineffective communication and many levels of commands. As a result, there is a proposal of a number of solutions to address the existing problems.
The solutions encompass a clear distinction between operations and governance, role definition, narrowing of the scalar chain, decentralization process, a matching authority and responsibility as well as development of effective communication. If the implementation of these solutions take place, Aquarius Advertising Agency is likely to succeed in the competitive business environment.
References Anand, R 2007, ‘What is the Right Organisation Design’, Organisational Dynamics, 36 (4), 329-344.
Handy, C 2009, Understanding Organisations, Penguin Books, London.
Knudsen, T 2008, Organisation Design: The past, Present and the Future, Springer, New York.
Lloyd, J 2008, Organisational Structure can be Underlying Cause of Workplace Issues, Oxford Publisher, Oxford.
Lorsch, W 2010, Organisational Structure and Design, IL Publication, Homewood.
McMaster, J 2007, The Intelligence Advantage, Organising for Complexity, Butterworth Heinemann, Newton.
Mintzberg, H 2009, ‘Structures in 5’s: A Synthesis of the Research on Organisation Design’, Journal of the Institute for Operation Research and the Management Science , 126 (13), 322-325.
Stacy, R 2010, Strategic Management and Organisation Dynamics, Pitman Publishing, London.
Ulrich, D 2008, The Boundary Less Organisation: Breaking the Chain of Organisation Structure, John Wiley and Sons, New Jersey.
Zeffane, R 2008, ‘Organisational Structures: Design in the Nineties’, Leadership and Organisation Development Journal , 245 (78), 18-23.
Original Organisation Structure:
New Orgnaisation Structure:
An Analysis of UK’s and China’s pharmaceutical markets Essay writing essay help: writing essay help
Introduction Many firms are trying to improve their sales revenue by expanding into new markets. In this case, globalization plays a crucial role in helping the firms to achieve their set goals. In their assessment of the international theory of globalization, Johanson and Vahlne (1990) have identified three distinct phases of globalization.
During the first phase of globalization, the firm tries to establish itself in the local market. During the second phase of globalization, the firm launches its operations in the neighbouring countries.
Usually, neighbouring markets have similar characteristics and as such, the experience of the firm with the domestic market is crucial. In the final stage of globalization, a firm launches its operations in the international market.
Before a firm can decide to introduce its products or services into a new market, there are several factors that it needs to consider. For example, a Canadian pharmaceutical firm wishes to introduce a new type of painkillers in either China or the United Kingdom.
Before the firm can decide on the most appropriate market, several factors have to be put into consideration. The paper therefore focuses on the factors that the Canadian company should take into account before venturing into either the UK or Chinese market. It offers a critical analysis of benefits and shortcomings of each market.
Discussion Approaches to globalization
Before introducing the new drug to the international market, the Canadian company can choose between using a direct approach and entering into a strategic partnership with another firm that has already established itself in the desired market.
Under the direct approach, a company sets up the premises from where it will distribute the drug. A strategic partnership would involve the use of local partners for purposes of distributing the drug. Goldstein (2005) observes that China is one of the fastest growing markets with an average annual growth rate of 8%.
Get your 100% original paper on any topic done in as little as 3 hours Learn More Moreover, the Canadian company may require a local partner because the Chinese market is large with a diverse culture. Although identifying and contracting a reliable local partner would be a costly undertaking, there are several advantages associated such an approach.
For example, international partners may rely on the experience of the local firm in the market. On the other hand, the UK’s pharmaceutical industry is still reeling from the effects of the 2008 global financial crisis. The pharmaceutical market in the UK is expected to grow at an annual rate of 0.4% (Epsicom n. d.)
In addition, the National Health Service is expected to implement budgetary cuts, and this would effectively reduce its expenditure on new drugs. This would affect the pharmaceutical industry greatly and also derail efforts by the Canadian company to breakeven.
Competition and Market Share
China’s healthcare system is run by the socialist government whose aim is to provide quality healthcare to all its citizens. The government has implemented several policies aimed at improving the healthcare system (KPMG 2010). Among the proposed policies is the upgrade of health facilities and enlarging insurance coverage to include the rural population in China.
In China, small-scale firms account for 80 % of the pharmaceutical market (KPMG 2010). Plafker (2011) states that small companies have room for growth in China’s expansive market. On the other hand, the UK pharmaceutical market is dominated by international pharmaceutical giants.
The major players in the UK pharmaceutical industry include GlaxoSmithKline, Merce
How Do Genetic and Environmental Factors Contribute To The Expression of Depression? Research Paper scholarship essay help
Table of Contents Abstract
Statement of Question
Description of Neurochemistry or Functional Neuroanatomy
Limitations and suggested future research
Abstract Depression affects very many individuals in the world and results in reduced productivity in the workplace. Depressed individuals experience feelings of hopelessness and helplessness which makes them have negative perceptions about their immediate environment and some even develop suicidal thoughts.
This paper will look at the link between genetic factors and the environment on expression of depression. Some research studies that have been carried out have shown that some individuals might be predisposed to depression more than others. Such individuals might have body systems that either produces excess stress hormones or neurotransmitters that are not as balanced as they should.
The result is that an individual’s mood is affected which might affect their work and relationship with their family and friends. People who are predisposed to depression should avoid excessively stressful situations to avoid imbalance of the endocrine or nervous system. The paper will also look at methods, results and recommend areas that can be further researched on concerning the area of depression.
Introduction Depression is a clinical condition that affects the way an individual thinks or acts. Depression has been mentioned to result to sadness, feelings of stress and hopelessness about situations in an individual’s life. Depression affects physical functioning, thoughts, mood, behavior and communication.
Often, depression is mistaken with sadness but it should be noted that sadness usually goes on for too long. Depression usually results in a change in an individual’s life in a negative manner. Depression does not dictate on gender, age or race. Depression affects about 9.5% of adults in the United States of America (Ebert
The Facility Management in the Tourism Industry Case Study cheap essay help: cheap essay help
Table of Contents Introduction
Opportunities challenges and trends
Technology and facility management
Drivers of change
Introduction It is doubtless that advancement in technology is one the achievements of the 21st century. From office motivation to online marketing, many firms around the world have embarked on incorporating technological ideas into business in order to promote performance and profit making (Cotts, Roper
Mao Zedong’s Rise to Power Essay (Critical Writing) argumentative essay help
Historians provide various explanations for Mao Zedong’s rise to power. This person can be regarded as a skillful political strategist and tactician who could manipulate, forestall, and coerce his opponents into defeat. Yet, he can also be considered as an opportunist always able to take advantage of various circumstances, even those ones when he made obvious mistakes.
Thus, it is necessary to show how modern scholars describe and assess Mao Zedong. In particular, we can compare Maurice Meisner’s evaluation of Mao with the assessment offered by David Apter and Tony Saich. To some degree, the works of these historians represent opposing views on Mao Zedong political struggles.
Meisner emphasizes his efforts to appeal to various social classes. He shows what Mao Zedong gained the trust of his potential supporters. In turn, Apter and Saich attach greater importance to his rivalry with various people who could undermine his authority.
First, it should be mentioned that these scholars pursue a similar objective; in particular, they strive to explain how Mao Zedong gained supremacy in the Communist Party, and became a symbol of a leader for the Chinese people. Yet, these texts differ greatly in the style of presentation.
In his work Maurice Meisner looks at Mao’s succession to power from a strictly chronological standpoint. He discusses a series of events that contributed to Mao’s ascendance to power. His attention is focused on the Long March, the Japanese invasion of China, the establishment of Red Capital in Yan’an and so forth.
He shows how these events helped to gain the support of people with “proletariat consciousness” (Meisner, 45). In their turn, Apter and Saich discuss separate strategies and tactics that Mao employed to overpower his opponents among politicians, intellectuals, administrators and military.
Additionally, it is important to compare the data that these scholars analyze. For instance, Maurice Meisner discusses quantitative demographic data that shows how many people supported Mao and many people lost their lives because of his initiatives. Still, he also gives preference to quantitative research methods.
Get your 100% original paper on any topic done in as little as 3 hours Learn More He focuses on Mao’s description and perceptions of his successes and failures. The data that this historian discusses mostly comes from primary sources such as Mao’s books, articles, and interviews conducted with this political leader.
He also uses secondary sources, especially, the books published by other historians and journalists. In contrast, Apter and Saich don’t use quantitative data. They give preference to qualitative data that allows the reader to understand the opinions of Mao and his opponents. Their data come from primary sources such as letters, diaries, pamphlets, and books published during that period.
There are some similarities in conclusions that these authors arrive at. One of his arguments is that Mao was able to transform his failed initiatives into victories. For example, the Long March which resulted in thousands of casualties, was later transformed into a symbol of “will, spirit, and revolutionary consciousness” (Meisner, 34).
Mao understood that this March could have been ruinous for the Communist Party, but he never admitted his errors and attributed them to his political rivals.
This idea is shared by David Apter and Tony Saich who also think that Mao Zedong was good at “turning defeats into lessons, and lessons into claims to truth” (Apter and Saich, 37). Overall, the authors agree that he was able to shift the blame for his failures on others.
However, these scholars have different perspectives on Mao Zedong’s strategy. For instance, David Apter and Tony Saich focus on the so-called “four struggles” of Mao (Apter and Saich, 35). This term describes Mao’s attempts to win military, ideological, intellectual, and administrative leadership in China (Apter
Multiculturalism Should Continue To Be Promoted In Canada Essay a level english language essay help
Table of Contents Introduction
Multiculturalism and Culture
Racism and Employment
Multiculturalism at workplace
Introduction The freedom of the people would be hindered if they were contained only in a certain cultural society by natural birth or language. Thus, it is important that every person in Canada, irrespective of their race or cultural origin, is provided with an opportunity to be exposed and learn any other language from countries in which Canada cooperates with in terms of business, politics, and other issues.
Multiculturalism policy inside a bilingual background has been seen by the government as a highly appropriate way of guaranteeing the freedom of culture within people of Canada (Tierney 6). This policy should further be supported since it has helped break down discriminatory thoughts and hatred among cultures.
Natural unity, whether it is to signify something in the totally individual sense, have to be established on self-assurance in one’s own personal character. Through this, everybody would generate respect to the other people and readiness to share thoughts, suggestions, and ideas.
Multiculturalism and Culture A strong multiculturalism policy will aid make this first self-reliance and it can create the foundation of a society that is derived from fairness for everybody. Additionally, multiculturalism informs people about other people or society origins and anyone in Canada can be informed about various cultures.
Because of the multiculturalism which is there in Canada, everybody can have an opportunity to learn about Greek, China, and African food in Vancouver without being in these countries. People can also learn about various fashions and religions in a community which is multicultural and it will also introduce different languages in Canada.
If a person desires to learn the second language, it will be easy to get a native speaker (Mooney 251). This will help then get a native speaker who can teach them to speak a certain language with appropriate pronunciation and accent. Therefore, the idea of multiculturalism enables various cultures and societies to learn from each other.
The government should maintain and promote different ethnic and culture clusters which provide liveliness and arrangement to societies in Canada. They should be promoted to share their cultural idioms and values with the rest of Canadians and as a result will add to a better-off life for everybody (Parada
Manager’s Role in Change Essay essay help site:edu: essay help site:edu
The management roles that are easily observed in organizations include: directing navigating and interpreting. The directing and navigating roles involve the manager imposing the vision upon the members of staff.
This is an authoritative approach whereby the manager controls the operations of the organization since he or she is the final decision maker and interpreter of the vision. The interpreting role involves the CEO being the only party that is relied upon for interpretation of the vision.
This role places the CEO at the heart and central location of the organization given that without this person, operations would not run smoothly.
I am most comfortable with these management roles since they maintain power at the top thereby allowing managers to practice their leadership styles effectively. When the power to impose directives is held by the managers, change management is halfway guaranteed.
The directing role has the benefits of ensuring that organizational activities are controllable. Since the manager directs personnel on what to do and what to avoid it becomes easier to direct organizational activities towards the achievement of the vision.
When this approach is used indiscipline is easily dealt with and the manager can lead to creation of a reputable organizational culture. Directing however does not foster participative leadership which s the best method to influence behavior.
The navigating role also involves the manager controlling organizational activities but being subject to external factors which affect the outcome of change. The benefit of this approach is that there is room for the organization to be dynamic so as to adapt to changing needs of the market.
Get your 100% original paper on any topic done in as little as 3 hours Learn More This however does not provide certainty about achievement of successful change management. The interpreting role had the advantage of avoiding confusion within the organization since all directives come from the CEO who also interprets the vision.
If many parties are allowed to interpret the vision, this will lead to confusion and lack of a common purpose. However this approach is dictatorial in nature and it leads to overdependence on the CEO or centralization of power.
The nurturing, coaching and caretaking approaches have several shortcomings. These roles involve the manager consulting with employees before decisions involving the organization are made.
This creates a barrier towards organizational effectiveness since employees do not always require to be consulted. Where the manager seeks to shape the change process by influencing behavior of individuals, a strong stand should still be maintained so that there is no deviation from the vision.
It becomes difficult for the manager to work towards a vision when consultations always have to be made with the personnel who are being coached or taken care of.
I have been in an organization that concentrates on the nurturing and coaching approach. In this organization employees were always consulted whenever there was something to be done.
The end result was that the decision making process was too long. At times the consultations ended in stalemates and there was no mutual decision that was arrived at. The lack of consensus during consultations made the manager unable to direct the organizational activities since he could not impose decisions upon the employees.
We will write a custom Essay on Manager’s Role in Change specifically for you! Get your first paper with 15% OFF Learn More A strategy that can be used to overcome these shortcomings would be to allow the leader to be the final decision maker even after consultations have taken place since this would allow for exercising of effective leadership skills.
Report on Local Acts New Information System Report college essay help
Explanation of SDLC Steps Required for Developing the System Preliminary analysis
The scope of organization is to ensure successful coordination between the managers at all levels and minimize the cases of the delays of the event preparation and completion. The problem lies in overloaded e-mails and indirect transfer of information between the managers, which decreases the reliability and efficiency of the system.
Using online self-service venue booking system can allow all the managers to view the booking arrangements, as well as all information attached. The book manager, along with the venue managers and facility managers should made corrections to the events and introduce all possible updates, which can be viewed by others.
In order to introduce this system, it is necessary to prescribe new instructions for all the employees. Specifically, each employee participating in the event should have an access to the database to track the updates and carry out the assigned duties.
Similar approaches will be presented to introduce online sales for advertising packages. The only difference is that they will be available for the top managers and the clients who will receive a specific identification code to view the variants and choose the most appropriate one.
The database will have different request forms where all the duties and systematic instructions will be posted for each employee to be aware of their responsibilities. The system design will include a set of information system on one website.
The access to each department (booking, payment, venue preparation, ordering, and facilities arrangement) will be available to each employee in accordance to the responsibilities he/she performs. For instance, the Booking Manager will have an access to all the items, the Venue Manager can access venue preparation, ordering, and facilities arrangement.
All these issues will be regularly updated so that each manager should keep track of those changes. The Facility Manager will have facilities arrangement and venue preparation at his/her disposal.
Get your 100% original paper on any topic done in as little as 3 hours Learn More As soon as the project is put into effect, the manager can view all the details of the preparation. Finally, each employee can view the request forms with regard to the project. Their names and surnames, along with other important information, will be attached to specific project data.
An important part of program implementation is test data generation. This procession implies creating a set of information for testing the efficiency and adequacy of software applications.
To carry out the test, it purposeful to fill out the order request in accordance with the above-presented categories to check whether all updates and processes can be viewed and analyzed by other departments.
The second step will be introducing a path model composed of three steps – software control flaw chart construction, path choice, and test data generation.
Introducing a new information system will significantly improve the internal information flow and the will regulate the coordinate both at virtual and horizontal levels. In this respect, employees can report to top managers online and inform them about the shifts and processes they accomplish.
The manager can access the results and introduce the corresponding changes. In such a manner, it is possible to foster time management approaches and significantly facilitate the overall process of order arrangements. Because automated steps deprive the managers of certain steps of operation, they can be more concentrated on the project accomplishment.
Moreover, online availability of the project can attract more clients and increase the number of orders. As a result, the director of the agency will receive maximum benefits will reduce the amount of employees needed for the venture. This is also a great possibility to expand the number of the venues and introduce more services.
We will write a custom Report on Report on Local Acts New Information System specifically for you! Get your first paper with 15% OFF Learn More Possible Effects of Project Failure In order to identify the possible pitfall of the information system work, it is necessary to split all the steps of implementation into smaller components. It will help define the degree of failure and damage that might occur if the software fails. For instance, the first level will include the actual information data posed online.
In case the system is arranged according to the principle of cloud of computing, the threats of invasion will be minimized. However, if there is a possibility of breaking the system. All information preserved on the online self-service system will be lost. However, similar outcomes can occur to the old system of e-mail exchange.
In this respect, the system should have additional hardware preserving all information. This electronic storage should be updated at least once a week to be able to preserve as much information as possible.
If the failure occurs to the second level of the information processing, namely the input and output of information between employees and their top managers, there will be a high probability of the event preparation failure. As a result, the calculation can lead to the loss of money and reduction of revenues.
Besides, it can negatively contribute to the organization culture, as well as the policy of employee retention. Second, insufficient training of employees can lead to the misinformation and late delivery of the final projects, which can also minimize the chances for success.
Centralising the Treasury Operations Essay college essay help: college essay help
The treasury in a business environment is the unit in charge of the management of the funds’ flow. Usually, the treasury fulfils its roles through cash flow and liquidity management. In addition, it controls the management of all the financial risks in an institution.
Globally, treasury managers in international banks encounter immense challenges concerning the overseeing of transactions across vast geographical locations and different time zones (Bragg 2010, P.34). Centralisation enhances an organisation’s management, assessment, and transparency.
By 1990, the redevelopment of the first sharing services had occurred in the US. The centers’ obligations were to increase and maximise the American corporations’ investment returns by employing project-planning solutions.
Afterwards, the multinational organisations and banks realised the outcome and importance of consolidating their treasury. In this regard, these organisations could merge and process numerous tasks and information in one central location.
Moreover, the organisations realised that centralisation enabled them to deliver efficient and transparent services while attracting qualified expertise.
Apart from its financial advantages, centralisation offers a chance for organisations to streamline their control and administrative procedures at the treasury level.
Likewise, the reengineering and rebuilding of an organisation’s processes enhances effective control. Therefore, multinational firms must redesign their structure to benefit from centralisation.
Get your 100% original paper on any topic done in as little as 3 hours Learn More Methods of treasury centralisation Banks and organisations must consider several factors before settling on the centralisation of their treasuries. As a bank expands, its treasury expands too. This creates the need for the selection of an appropriate model of operation.
Therefore, banks must consider the major aspects affecting their operations. These include the scale of the broadened operations and intricacy of the treasury desired. These aspects correlate to form a basic decision matrix tool for any treasury model.
The process of centralisation should reflect the growth and nature of the treasury’s tasks. Additionally, it is crucial to reflect the disparity in the execution of corporate finances as well as the cash flow activities.
With the technological advancements and improved financial markets, the financial support and prevarication management from a central location has become a possibility (Hudson 1994, 256). With cheap and efficient management practices, multinational banks and companies can utilise highly trained personnel to execute and manage their transactions.
Centralised treasury management Banks and organisations should centralise their treasury as per the cultural and geographical setup of their business tasks. Organisations employ appropriate database systems to run their management activities in different parts of the world.
In this regard, the organisations gain economies of scale as well as reduced operational costs, which result in improved returns and the creation of a favorable environment for business growth.
Additionally, the treasury’s centralisation allows affiliate companies to demonstrate their value adding processes to an organisation. Therefore, in this regard, banks achieve reduced costs and financial risks, increased investment returns, and the acquisition of qualified expertise.
We will write a custom Essay on Centralising the Treasury Operations specifically for you! Get your first paper with 15% OFF Learn More Outsourcing For the international banks to attain additional economic gains, they must embrace outsourcing and through centralisation. Banks’ treasuries often encounter numerous challenges such as the need to globalise treasuries and the attainment of efficient cash flow management systems in the ever-changing markets.
A combination of these forces and the limited resources and infrastructure has compelled treasuries to adopt outsourcing. Working with several outsourcing partners, banks can provide their workforce and clients with flexible and efficient services.
More so, through outsourcing, banks can allow their treasuries to tackle domestic and regional challenges. Currently international banks and organisations setups require treasuries that are more dynamic. Thus, several middle level companies have resorted to outsourcing part of their treasury to the international banks.
Similarly, companies with regional treasury can exploit the benefits of outsourcing when setting up new branches in new territories without investing more on their treasury budget.
This approach enables the treasury units to allow the treasury administration to focus on the vital aspects of its work while letting the service providers handle the operational related issues.
The impacts of globalisation on centralisation With more corporations and international banks increasing their operations worldwide, ethics, principles and payment procedures in the international market need regulation and standardisation. The centralisation of the international banks’ treasuries tackles these challenges as the banks have the capability to cater for both the domestic and regional treasury issues.
Regional treasury centers When deciding on the location for a new treasury organisation, the selected location should be central and its legal and tax policies should concur with the companies’ tax policies. By so doing, a company will significantly minimise its cost while expanding its investments.
For instance, Nokia chose Singapore over Australia, Malaysia, and Hong Kong in setting up its centralised treasury because Singapore’s tax systems were more favorable (Greuning 2009, P. 234). In this regard, it is important that banks do not solely major on returns and corporate tax, but also focus on their revenue contribution to the state.
Not sure if you can write a paper on Centralising the Treasury Operations by yourself? We can help you for only $16.05 $11/page Learn More Phases of the treasury centralisation Normally, there are three phases of centralising the treasury (Greuning 2009, P. 254). The initial phase is the creation of a central treasury unit. The unit aims at dealing with the risk management and interest rates of an organisation.
The central treasury units can further be sub-divided into multicurrency cores and in-house banks. In-house banks provide organisations with the needed banking services in the subsidiary levels. Within the In-house banks, the central treasury can obtain information regarding the cash level.
The second phase of the treasury centralisation comprises the centralisation of money and liquidity administration. The creation of a regional multicurrency pooling system within the local banks enables the achievement of this cause.
This process is referred to as cash concentration. International banks are required to have several cash balances on diverse bank accounts in different currencies across different banks worldwide.
This enables the banks’ treasury management to concentrate their extra cash balances on a single account in one location facilitating the maximum control of the liquidity position as oppose to the case of a global spread (Greuning 2009, P. 255).
Thus, multinational banks have established complex strategies to concentrate their offsets and renovate their cash scales to achieve a single balance stand through the year.
The third phase of centralisation comprises the centralising of all the transaction processes within an organisation. This achieved by centralising the incoming, outgoing, and documentary payments.
By establishing new consolidated entities referred to as payment factories, banks and other organisations can achieve this objective. With these payment factories in place, an international bank can centralise the standard accounts from its subsidiaries enabling a single payment distribution to banks (Greuning 2009, P. 157).
The risk of treasury decentralisation In a decentralised setup, banks allow their subsidiaries to control and manage their own payment procedures. Each bank relies on its own staff and infrastructure to run its operations. In this regard, flexibility is achieved.
However, the system results in a weak visibility of monetary and high interest rate risks due to the absence of pooling methods. Consequently, the lack of standardisation and automation in the banks’ treasury can present transaction risks caused by the erroneous outgoings and data dismissals.
Decentralised banks can only benefit from their ability to manage all the factors within their business setups. Thus, the managers of such banks should be convinced to adopt centralisation to improve on their tax returns and attain effective treasuries.
In the end, such banks will benefit from the improved profits and a highly qualified workforce upon the adoption of centralisation.
Near shoring In Europe, this term refers to all the shared services between various companies. The system has thrived in Hungary and Czech Republic because both countries have no legal restrictions on the treasury centralisation leading to advanced skills within their banks’ workforce (Greuning 2009, P. 257).
In addition, the location of these countries has significantly benefited them since they are nearer to the manufacturing facilities, which provide them with a large market.
Conclusion Currently, multinational banks are encountering significant challenges concerning the creation of firm and effective treasury infrastructures to cater for the ever-evolving market demands. To achieve this objective, they should focus on the reduction of their operational costs and develop viable operations that enhance their growth in the market.
Furthermore, the banks should remain conscious of the international payments standards that are subject to change (Hostetler 1989, P.123). Despite the benefits of the treasury centralisation, many organisations’ treasuries encounter several setbacks due to their incomplete control and utilisation of centralisation.
Furthermore, small banks and organisations lack the proper infrastructure and technology to implement this system. These setbacks affect the treasury departments negatively.
Although there is immense pressurisation on several multinational companies to adopt the appropriate treasury structures such as centralisation, the treasury discipline as a whole is still immature compared to other financial and accounting disciplines.
Therefore, to optimize on this system, increased research and academic attention need to be directed on the treasury management in order to realise effective treasury operations in the international banks.
References Bragg, S. M. (2010). Treasury management the practitioner’s guide. John Wiley: Hoboken, N.J.
Greuning, H. v.,
Microserfs and Identity Disruption by Technology Analytical Essay scholarship essay help: scholarship essay help
It is undeniable that IT plays a significant role in contemporary life. The fact that most people do not comprehend the machinations behind flicking on the TV, reading e-mail, buying things using credit cards clearly defines the transparency of IT among its casual users and its ubiquitous nature.
Private and public companies invest huge sums of money every year to update their IT infrastructure in order to remain technologically informed.
In the education sector, universities experience constant pressure to maintain their technology savvy image in order to attract new students who anticipate wireless internet all over the school premises, technically knowledgeable lecturers and online course resources.
Since IT is around the people and invisible to the eyes, individuals must watch the technology they use carefully in order to determine its impact on their self identity.
Coupland’s MicroSerfs is a novel that revolves around a group of information technology workers of mid-1990s whose residence is the Eastern suburbs of Seattle in Washington. The novel loosely tells the real life experiences of Microsoft employees and precisely captures the lives of individuals of the dot com era.
Their identity is affected by the invention of computers since they can blindly spend so many hours in a day blindly staring at their computer screens. Most of the characters in Coupland’s novel exhibit an almost religious devotion to IT.
Their personal identity is completely subsumed under their all inclusive desire to work in the Information technology industry. Some say that without their computers they are useless (Coupland, 2008).
Get your 100% original paper on any topic done in as little as 3 hours Learn More For the characters in the novel, technology is central in the development of personal values and self identity. It has the potential to pose significant challenges both in the religious and social realms. The characters strife to master their computers the same way they master their lives.
Coupland explains how dehumanizing life is at Microsoft which is one of the most technological enterprises in the world. In the novel, Michael who is the most outstanding programmer in the group receives an email from the founder of Microsoft, Bill Gates that criticizes his work.
The email traumatizes him such that he decides to keep to himself in his office as he refuses to get in touch with the rest of the world. Daniel who is the narrator points out that with the main focus of dominating the IT and software industry, the life of individuals in the IT industry revolves around work only.
The identity of workers disappears as evidenced by Michael who locks himself up in the office and refuses to eat, simply because his work in the IT industry is been criticized by the president of Microsoft (Coupland, 2008).
As a result of technology, the Microserfs are always stressed in addition to the low salaries they are paid. Apart from their work in the IT industry, their lives have minimal satisfaction. Some of them admit that their world consists of Microsoft, home and Costco.
The working environment in the IT industry does not give them a chance to establish relationships hence most of them remain single even when they are supposed to be married. They start relationships but they are soon taken over by their works.
Having families is an integral part of reinforcing the identity of individuals but the IT industry disrupts their identity since it denies them a chance to establish their families.
We will write a custom Essay on Microserfs and Identity Disruption by Technology specifically for you! Get your first paper with 15% OFF Learn More The stress associated with the efforts to construct technology sometimes causes isolation as opposed to the connection which supposed to be achieved. Coupland says that workers stay close to each other yet they do not visit each others office as is the case with Daniel and Karla, who have never gained access to the office opposite theirs.
The workers only get to engage in a genuine conversation for the first time outside their work station when they get a break. The interpersonal gaps occasioned by technology cannot even be bridged by emails since once they are send, they is no chance of connecting with the people.
This clearly portrays how technology disrupts identity. It makes it difficult for people to identify themselves with their friends or colleagues at work because they either do not have time to interact or because they can simply connect by using technology (Coupland, 2008).
Coupland relates the emptiness caused by technology and how it disrupts identity to the specific Microsoft conditions. As the characters in the novel embark on a mission of reinventing and rediscovering their humanity, their attempts seem to be defiance against the dehumanizing and depriving effects of technology at Microsoft.
The rather complicated reevaluation of identity and humanity in the novel comes out strongly as the novel comes to an end. Daniel’s mother suffers a stroke, prompting the interiority community to surround her, remaining with her and willing to support her go over the unfortunate condition.
After trying to assist her for two weeks, an idea strike, that they should provide a computer keyboard for her to type messages for them to read. Michael assists her to move her fingers and through that method, they are able to communicate with her once again.
Reference Coupland, D. (2008). Microserfs. New York: HarperCollins.
Impact of online social media in conflict situations Essay online essay help
The internet has been credited by the United States of America’s Secretary of State Hillary Clinton as one of the most powerful forces for the advancement of freedom and political change. Clinton has called for consideration of internet based technologies such as twitter for the Noble Peace Prize.
Clinton’s remarks come at a time of heightened social media activities in conflict situations. While this raises the question of impacts of social media in conflict situations, the sobering reality however, is that it is quite impossible to enumerate the exact impacts. Nevertheless, social media has had both positive and negative impacts that have in one way or another shaped conflict dynamics.
A study commissioned by The George Washington University indicates that determining the actual effects of the new media in conflict situations is cumbersome due to methodological challenges and the newness of the subject.
The use of the term new media within the study refers to nontraditional media especially social media tools such social networks, blogs and mini blogs, wikis and others. Regardless of the aforementioned challenges, the study expose sufficient evidence which indicates that new media has significant positive effects in conflict situations.
The study reveals that in most of the conflict situations, the new media has emphatically changed people’s perceptions and actions with regard to issues in contention. With time recurrent activism gains popularity; followers are able to join and follow such activism at the click of the mouse.
As a result it becomes easier to facilitate collective action and thus spur mass movement (Aday, Farrell, Lynch, Sides, Kelly and Zuckerman 2010).
Aday et al.’s (2010) work indicates that the new media impacts conflict situations in four broad based areas. These include exposing individuals to new information flows such that an individual gains new competencies. The new media also improves how groups relate, thus improving inter and intergroup communication channels.
Get your 100% original paper on any topic done in as little as 3 hours Learn More By affecting group activities, social media enables such groups to form mass movements in politically charged conflicts (Eltantawy and Wiest 2011). Lastly, conflict situations easily gain international attention with the help of mass media tool such Facebook, twitter and blogs.
This has effectively led to social media to be referred to as the “magic bullet”. The phrase “magic bullet” is particularly used with reference to the impacts of twitter in spreading the Green Movement philosophy and the calls of political change in Iran (Aday et al. 2010; Esfandiari 2010).
The impact of social media goes beyond increasing the participation of the people in conflict situations. The dawn of social media has also given rise to new avenues through which peace, conflict prevention and resolution is attained.
Social media tools especially social network sites such as Facebook as well as blogs and mini blogging site such as twitter have had significant impacts in the search for peace, justice and conflict prevention in conflict zones. It is imperative to note that social media in itself cannot prevent or solve a conflict; neither can it ensure that justice prevails.
Nevertheless, these tools offer new and effective possibilities through which the avoidance and prevention of conflict occurs. One such example is the 2007/2008 post election violence in Kenya.
Through Facebook and popular blogs such as “Ushahidi”, Kenyans were able to report the occurrence of sporadic acts of violence which conflict prevention and resolution was attained. People used reports from social media to not only evade conflict but also intensified calls for end to the violence.
Additionally, heightened calls for justice through “Ushahidi”, underlines the usefulness of social media in conflict resolution (Goldstein and Rotich 2008).
We will write a custom Essay on Impact of online social media in conflict situations specifically for you! Get your first paper with 15% OFF Learn More Assertion made by Goldstein and Rotich (2008) indicate that in conflict situations social media has also helped to push the boundaries of journalism. As reported by Communication for Social Change Consortium social media has come in handy in countries where access to traditional media is limited (Monzani 2010).
While Monzani (2010) cites countries such as Iraq, Burma and Gaza as some of which social media has helped to highlight the nature of conflict, Aday et al. (2010) survey indicate that Iran also falls under this category.
Social media tools have given the rise of citizen journalism thus helping to eliminate or counter biased reporting by the mainstream media, which in most cases is usually under the tutelage of authoritarian regimes. While citizen journalism significantly lowers the quality of professional journalism, it nevertheless enables direct involvement citizens in conflict zones.
Citizens communicate with the outside world through social media news feeds. Such communication impacts the conflict situation in two major ways; it counters biased reporting from the mainstream media is as well as giving the citizens opportunities to voice their afflictions.
In the Syria protesters, realizing the need to back up activism with sufficient evidence, have turned to social media tools especially YouTube. According to Rafif Jouejati, the Syria opposition wing spokeswoman “Social media has became a powerful tool in getting the word out” (Sterling 2012).
YouTube is thus being used to smuggle news about the atrocities committed by President Bashar al-Assad’s regime, to the international community.
The assertion made above are likely to indicate that social media as inalienable from the successes achieved in successful conflict situations. It is therefore imperative to state that social media impact in conflict situations is exaggerated. In some situations, social media has had no effects at all while in others social media activities have exacerbated the conflict.
Aday et al. (2010) note that oppressive regimes have learned to use social media effectively to quell dissent form the experiences of other regimes. Aday et al. (2010) cites China’s example where, anticipating the Uighur protests, the Chinese government blocked twitter after the “Twitter revolution” in Iran.
Not sure if you can write a paper on Impact of online social media in conflict situations by yourself? We can help you for only $16.05 $11/page Learn More But this is not the most negative use of social media by oppressive regimes. Stepanova (2011) notes that the Iranian government used social media tools such as twitter to institute oppressive countermeasures during the 2009 green movement revolution. Social media enabled Iranian authorities to trace and arrest protesters.
In resolving any conflict, Friedman, Tidd, Currall and Tsai (2000) assert that focusing on the interest of other parties involved in the conflict necessitates effective conflict resolution. The use of social media has effectively led to generating social capital necessary for mounting successful revolution in countries such as Libya and Egypt (Howard and Hussain 2011).
However, in most of these situations social media activism is largely uncoordinated and driven by self interest. Most of the social media activists seem to have concealed self interest. As a result social media activism obscures the real issues on the ground while propagating populist propaganda.
For instance, in Iran the while the revolution was based on political change much of the social media activism called for regime change since it was driven by selfish interest. Thus, in Iran social media activism largely ignored genuine interests from all stakeholders (Aday et al. 2010). This is perceived as one of the reason why the revolution was unsuccessful.
While social media is largely credited with positive impacts in conflict situations, the failure in Iran raises doubts about its actual effectiveness. Scholars from The George Washington University hypothesize that the use of social media fails to create the necessary vertical hierarchies to mount a genuine revolution.
As such the use of social media in conflict situations alters the political structures such that a lot of international attention is gained at the expense of shaping internal revolutionary activities. Thus, within the physical border of the conflict zones, social media activities are merely passive and largely fail to save the victims of the conflict.
For instance in the southern Sudan conflict, the “Save Darfur Movement”, while attracting enormous sympathy from the international community failed to generate any positive effects on the ground. Similarly, the twitter revolution in Iran failed because is seemed to have been designed for the international community, while the Iranians government continued unabated to oppress protesters (Aday et al. 2010).
The use of social media has had significant impacts in conflict situations. Heightened social media activities increase participation of individuals, empower groups to share crucial information and increase awareness by the international community.
This has had mixed impacts in different conflict situations. In Egypt, Lybia and Tunisia social media activities has largely mediated in toppling oppressive regimes, while in Kenya blogging supported the avoidance of conflict as well as the search of peace and justice.
While the failures in Iran, Syria and Sudan blot an otherwise positive record, it is nevertheless worth to note that social media activities have positively shaped the outcomes in conflict situations.
List of References Aday, S., Farrell,H., Lynch, M., Sides, J., Kelly, J. and Zuckerman, E. 2010. Blogs and bullets: New media in contentious politics. Web.
Eltantawy, N and Wiest, J. 2011. The Arab Spring| social media in the Egyptian revolution: reconsidering resource mobilization theory. International Journal of Communication. Web.
Esfandiari G. 2010. The twitter devolution. Foreign Policy. Web.
Friedman, R., Tidd, S., Currall, S. and Tsai, J. 2000. What goes around comes around: the impact of personal conflict style on work conflict and stress. The International Journal of Conflict Management 11(1).
Goldstein, J. and Rotich, J. 2008. Digitally networked technology in Kenya’s 2007–2008 post-election crisis, internet and democracy case study series. Harvard business Review. Web.
Howard, P. and Hussain, M. 2011. The Role of Digital Media, Journal of Democracy 22(3).
Monzani, B. 2010. Media in conflict prevention and peace building: an opportunity for E.U. Leadership. Web.
Stepanova, E. 2011. The role of information communication technologies in The “Arab Spring”: implications beyond the region. Web.
Sterling, J. 2012. For Syrian activists, YouTube is a sword and shield. CNN. Web.
The Australian superannuation industry Report college admissions essay help: college admissions essay help
Executive Summary The Australian superannuation industry is one of the largest companies both in financial assets and members in the country.
As a result, there are a number of companies that offer these services in the market which offers a wide pool of potential clients as the pension scheme is mandatory to all Australian citizens.
Consequently, there is competition among industry players as they try to control a larger section of the market and thereby increase its profitability. For any company to survive, it has to adopt strategies which will ensure that its products sell more, at a premium and developed using the least cost.
There are a number of strategies that a company can adopt to ensure that it meets its target. The choice of strategy will depend on the market position of the company, its objective and asset base and future objectives nevertheless; expansion of the market ought to be a key issue to any superannuation company keen to weed out competition.
In order to achieve new market segments, companies ought to come up with new and innovative products while at the same time minimizing on their production costs. Thus in order to achieve this, this paper has critically analyzed the superannuation industry in Australia.
It takes into account porters theories on competitive advantage how those theories affect the day to day running of the Australian superannuation industry.
In addition, it takes a closer look at one of Australia’s leading Superannuation companies, Perpetual Limited. Perpetual limited offers a broader and more personal analysis on how the company has maintained its competitive edge against rivals.
Get your 100% original paper on any topic done in as little as 3 hours Learn More Lastly, the paper offers recommendation which both the Australian superannuation industry and Perpetual limited ought to take account in ensuring that the industry remains lucrative and companies continue maintaining a competitive edge.
Industry Overview The superannuation industry in Australia is a program that caters for the provision of a pension fund scheme for Australians. It’s therefore compulsory under the Australian law that all citizens be part of the program as it caters for their welfare once they retire.
Under the program, registered employers are required to submit a given percentage of employees income based on a given proportion to a given superannuation fund.
The need for the industry was given by the projected analysis that, with time, the Australian demographic map was changing drastically with more aged citizens increasing thus putting a strain on the government and national economy as it would seize to be economically feasible to support the retirement program.
Over time, the Government has come up with additional policy changes meant for ensuring the scheme is up to date with the current market and demographic changes (Pelham, 1999 40; Cartwright, 1993 55).
Key risks As the Industry is liberalized with many players, negative practices have increased in the last decade with players engaging in unethical practices.
In addition, there isn’t a robust framework which the custodians of the scheme can effectively use to control the vast players in the industry. As a result, the industry players don’t take into account the regulations that the custodians call for.
We will write a custom Report on The Australian superannuation industry specifically for you! Get your first paper with 15% OFF Learn More Political and Legal There has been a strong political will to control the superannuation industry to ensure that the interests of all stakeholders are taken care of without bias and exploitation (Conner
High Ethical Standards in Business Essay college essay help online
Introduction Ethics refers to the “conscious reflection on our moral beliefs and attitudes through the use of normative ethical theories and principles” (Ferrell and Fraedrich, 2011, p. 11). Ethical principles describe the generally accepted human obligations and the normative ethical systems. In the context of business, ethics refers to the accepted code of conduct that guides the behavior of all stakeholders of a firm.
Thus, the behavior of all stakeholders in a business is expected to conform to the accepted ethical standards. Adhering to the ethical standards enables businesses to avoid breaking laws. Thus, businesses that uphold high ethical standards are able to avoid the costs associated with breaking the law. Additionally, a business is likely to be more competitive if it upholds high ethical standards.
Engaging in ethical activities or behavior enables businesses to protect the interest of their customers and employees, and this improves their competitiveness. This paper focuses on business ethics by analyzing two articles. The ethical issues in the articles will be highlighted and discussed. Additionally, recommendations on how the ethical issues can be addressed will be suggested.
Article 1 Title: Anger at Goldman Still Simmers
Media: New York Times (magazine)
Date: Published on March 25th 2012
Overview of the Article
Following the 2008/2009 financial crisis, Copper River made unexpected losses and collapsed. Copper River was a successful hedge fund with assets worth over $1.5 billion before the crisis.
Get your 100% original paper on any topic done in as little as 3 hours Learn More The owners of Copper River argued that the collapse of their firm was mainly caused by the actions of Goldman Sachs, rather than the financial crisis. Goldman Sachs was the main brokerage firm that conducted Copper River’s trades.
Copper River relied on Goldman Sachs to conduct its short sales as required by the law. According to securities trade regulations, shares must be borrowed before a short sale can be conducted. Consequently, Copper River paid Goldman nearly one hundred million for the purpose of borrowing shares.
Copper River was likely to make heavy losses if the shares were not borrowed while Goldman Sachs was likely to be investigated by the regulators. According to Copper River’s owners, Goldman Sachs did not borrow the shares as required. Overstock.com which is an internet-based retailer also accused Goldman Sachs of failing to borrow shares to facilitate short sale.
Attempts by the owners of Copper River to save their company failed when Goldman Sachs refused to allow Copper River’s short positions to be transferred to BNP Paribas bank. Goldman Sachs also thwarted the decision to have Copper River’s positions taken over by Farallon Capital.
The failure by Goldman Sachs to borrow shares to facilitate short sales eventually caused the losses that led to the closure of Copper River. After the collapse of Copper River, another firm, S.C.E also accused Goldman of willfully failing to pre-borrow shares before making a short sale.
A former employee of Goldman Sachs also complained that the firm pursued its interests at the expense of its clients. For instance, Goldman Sachs established a mortgage firm, Abacus, which was financially weak. However, the firm sold Abacus to its clients without disclosing its financial position.
The ethical issues that can be identified in this article include the following. First, failing to borrow shares on behalf of a client in order to facilitate a short sale is an unethical behavior. According to the regulations governing securities trade “failing to borrow shares on behalf of customers is illegal because of concerns about market manipulation”.
We will write a custom Essay on High Ethical Standards in Business specifically for you! Get your first paper with 15% OFF Learn More The customers are also likely to be exposed to rising prices if the shares are not borrowed. Hence, the cost of trading in the shares would be very high. Second, Goldman did not disclose the financial position of Abacas before selling it. Instead, Goldman took advantage of its clients’ ignorance and sold a company that was already in financial distress.
This is unethical since Goldman Sachs intended to make a profit illegitimately and at the expense of its clients. Third, the decision by Goldman Sachs to stop the transfer of Copper River’s short positions was unethical.
Goldman Sachs prevented the transfer of the shares so that it could avoid being questioned by the regulator for failing to pre-borrow shares. However, preventing the transfer denied the owners of Copper River the opportunity to save their company.
Discussion of the Ethical Issues
According to the theory of utilitarian ethics, the outcomes of behavior should be based on the principles of “achieving the greatest good for the greatest number” (Jones and Parker, 2005, p. 76) for both the firm, as well as, its clients. This implies that the behavior or actions taken by a business must benefit the business and its clients. Additionally, such actions must result into the greatest benefit for both parties.
In this context, businesses must consider their customers an end in themselves rather than a means to an end (Jones and Parker, 2005, p. 77). However, the failure by Goldman Sachs to pre-borrow shares did not benefit the clients. While Goldman Sachs made profits by trading in its clients’ shares without pre-borrowing the shares, the clients incurred heavy losses.
Goldman Sachs’ actions were not right since they did not result into as much good as complying with the law. This is explained by the fact that the accusations labeled against Goldman Sachs had a negative impact on its image. Copper Rivers and other clients considered Goldman Sachs a racketeering firm that does not care about the effects of its actions.
Additionally, Goldman Sachs was placed under regulatory scrutiny, and was also forced to compensate some of its clients due to its fraudulent actions. The firm could have avoided all these risks and expenses if it had chosen to comply with the law. The principle of consequences requires businesses to assess their actions based on the expected positive and negative outcomes (Crane and Malten, 2007, p. 91).
Goldman Sachs seems to have focused only on how its actions would benefit it. According to the harm principle, businesses or industries must be regulated so that their actions do not harm the clients and the society in general. Hence, Goldman Sachs had to be put under regulatory scrutiny.
Not sure if you can write a paper on High Ethical Standards in Business by yourself? We can help you for only $16.05 $11/page Learn More According to the theory of contract ethics, businesses must behave in accordance to the contracts that govern their relationships with the customers (Crane and Malten, 2007, p. 95). Hence, Goldman Sachs, as a brokerage firm, was expected to honor the contractual agreements with its clients.
However, Goldman Sachs did not honor the contracts due to the following reasons. First, Goldman Sachs infringed its customers’ right to information when selling Abacus. The principle of justice asserts that clients have a right to information in order to make informed decisions (Crane and Malten, 2007, p. 97).
Second, Goldman Sachs obtained illegitimate advantage overt its competitors by failing to pre-borrow shares and preventing the transfer of Copper River’s short positions. For instance, both BNP Paribas Bank and Farallon capital could not benefit from Copper River’s short position since the transfers had been stopped. Additionally, the owners of Copper River missed the opportunity to strengthen their business.
Hence, Goldman Sachs’ decision to block the transfer of Copper River’s positions contradicted the principle of opportunity. According to the principle of opportunity, competing businesses must have equal access to existing opportunities (Crane and Malten, 2007, p. 98). Thus, illegal business practices should not be used to overcome competition or to make profits.
Goldman Sachs denied all accusations of fraud by highlighting the weaknesses of the arguments of its clients. In the case of Abacus, Goldman was forced by the regulators to pay $550 million as compensation to the clients. In the case of S.E.C, Goldman Sachs agreed to pay $450,000 but refused to admit or deny the accusation of failing to pre-borrow shares.
These actions contradict the principle of openness which requires businesses to be open to opposing views. Goldman Sachs refused to accept the view that its actions were wrong. Consequently, it continued to defraud other firms after the collapse of Copper River.
The dispute between Copper River and Goldman Sachs remained unresolved. Mr. Cohodes who was one of the main shareholders at Copper River did not sue Goldman Sachs for damages. Additionally, Mr. Cohodes abandoned the securities business. Copper River’s owners should have sued Goldman Sachs due to the following reasons.
First, Copper River could have been compensated for the losses it incurred as a result of Goldman Sach’s failure to pre-borrow shares on its behalf. The compensations could have enabled the firm to continue in business or to refund the investors’ capital at the time of the firm’s closure.
Second, Copper River’s owners were not under any obligation to accept losses resulting from the actions of their agent, Goldman Sachs. The principle of “rationality asserts that legitimate actions must be supported by generally accepted reasons” (Crane and Malten, 2007, p. 98). However, the decision by owners of Copper River to accept losses that they were not responsible for seems to be irrational.
The fraudulent actions of firms such as Goldman Sachs can also be prevented through effective regulation of the securities market. The rules or regulations governing trade in securities should not have loopholes that can be used by firms to engage in unethical behavior.
The rules should be based on the principle of impartiality so that all parties to a dispute can have equal access to justice. Reasonable penalties such as fines and compensations should also be used against firms that engage in unethical behavior. For instance, a fine could have discouraged Goldman Sachs from consistently failing to pre-borrow shares on behalf of its customers prior to making a short sale.
Finally, the clients should have exercised their right to information while dealing with Goldman Sachs. Upon suspecting that Goldman Sachs was not borrowing shares as required; the owners of Copper River should have demanded for information about their securities that were sold by Goldman Sachs.
Consequently, Copper River could have identified the irregularities and taken timely action. Additionally, the clients who bought Abacus could have avoided losses if they obtained all information about the firm’s financial position.
The affected stakeholders include Goldman Sachs and its clients such as Copper River and S.E.C. Ltd. Additionally the customers who invested in the companies that were defrauded by Goldman Sachs were affected. Each of these stakeholders was affected in the following ways.
The immediate effect on Goldman Sachs was the compensations it was forced to pay to its customers. In particular, the compensations required a lot of financial resources. Hence, paying out the compensations had a negative effect on Goldman Sachs’ revenues.
The accusations also had a negative effect on the image or reputation of Goldman Sachs in the market. In the future, clients are not likely to use Goldman Sachs as their stock broker. This is because Goldman Sachs is associated with fraud and unethical behavior. Hence, Goldman Sachs’ revenue and profits are likely to reduce in future.
The immediate effect on the clients was the loss of revenue as a result of Goldman Sachs failure to pre-borrow shares. In the case of Copper River, the investors lost their capital since the business collapsed. The losses are likely to prevent the clients from expanding their businesses due to insufficiency of financial resources.
The customers who invested in the companies that were defrauded by Goldman Sachs also incurred losses. This is because the funds managed by companies such as Copper River, essentially, belong to individual investors/customers. Thus, if the firm makes losses, its customers also share the losses.
Therefore, the affected customers are not likely to realize the expected returns on their investments in future. Additionally, the investors may have to look for alternative companies to invest in the future.
Goldman Sachs’ actions were unethical since they were meant to benefit the firm at the expense of its clients. In particular, Goldman Sachs failed to pre-borrow shares prior to conducting a short sale on behalf of its customers. Pre-borrowing shares is a requirement that is meant to cushion investors from the risks of market manipulation and stock price fluctuations.
The collapse of Copper River is partly attributed to the unethical behavior or actions of Goldman Sachs. Goldman Sachs was able to engage in unethical behavior due to the weaknesses of the regulatory framework of the securities market. Goldman Sachs was able to evade the rules that govern trading in securities. Even though Goldman Sachs benefited financially from its unethical behavior, it also lost its reputation in the market. Consequently, businesses should follow the utilitarian principles of ethics in order to remain competitive.
Article 2 Title: Ex-advisor Tells Court he gave Inside Tips
Media: New York Times (magazine)
Data: Published on March19th 2012
Overview of the Article
An investment adviser named Scott Allen was found guilty of providing classified business information to his friend. The information was about the sale of a drug company worth $ 2.6 million. Mr. Allen admitted that he illegally shared information about the acquisition of Massachusetts-based biotech firm referred to as Millennium Pharmaceuticals.
The pharmaceutical company was to be acquired in 2008 by a Japanese firm referred to as Takeda Pharmaceuticals. In 2009, Mr. Allen also illegally shared information about the acquisition of the American drug manufacturer, Sepracor. The American drug manufacturer was to be acquired by Dainippon Sumitomo Pharmaceutical Company which is based in Japan.
Mr. Allen told a “United States Court in Manhattan that he had” discussed with his personal friend the details of the companies which were to be sold. Consequently, his friend used the information to trade on the shares of the companies which were to be acquired.
Mr. Allen further admitted that he gave the information for financial gain, as well as, for the purpose of their friendship. Mr. Allen who worked for Mercer L.L.C was found guilty of securities fraud, as well as, conspiracy to engage in or commit securities fraud.
Mr. Allen also confirmed that he knew his actions were illegal and regretted his decision to disclose the classified information. The court freed Mr. Allen on a bond of $ 500,000 as he awaits his sentencing which is scheduled for August.
The process of acquiring a company involves the transfer of the shares of that company from one shareholder to the other. In the context of a publicly traded company, change of ownership is likely to affect the prices of the company’s shares in securities markets. Investors in securities markets usually make their decisions based on the available information.
The relevant information, in this case, should give insights on the firm’s future performance. In most cases, those involved in the management of the firm or the consultants involved in the sale of the firm have more information about the firm than the investors.
Consequently, the parties with more information about the company are prohibited by the law from using such information for their personal gains. Additionally, they are not allowed to share the information with a person who can use it for personal gain.
Disclosing the classified information is not allowed since it benefits those who have it at the expense of those who do not have it. Additionally, it can lead to manipulation of securities markets. It is against this backdrop that Mr. Allen’s actions are considered unethical and illegal.
The principle of double effect asserts that, “an act with intended and otherwise not reasonably attainable good effect and an unintended yet foreseen evil effect” (Jones and Parker, 2005, p. 88), is licit as long as there is a justified balance between the intended benefit/ good and the accepted evil.
However, an ethical dilemma arises when a person is obliged to avoid evil by abstaining from a good action (Jones and Parker, 2005, p. 89).
In this context, Mr. Allen was also in a dilemma since he had to choose between keeping the classified information and losing his friendship and the expected financial gain. Under such circumstances, the actions of the agent (Mr. Allen) should be guided by the following principles.
First, the object or essence of the act should not be contradictory to the agent’s fundamental commitment to his neighbor (Ferrell and Fraedrich, 2011, p. 57). This means that the action should conform to the regulations of the securities market.
However, Mr. Allen’s actions were intrinsically contradictory to his commitment to his employers and their clients. He knew that disclosing the information about the acquisition of the firms was illegal and had the potential of distorting share prices. Nonetheless, he failed to avoid evil by sharing the information.
Second, the direct intentions of the agent should aim at achieving beneficial effects, as well as, avoiding foreseen harmful effects.
This means that the agent should not willfully cause harm to others. Contrary to this principle, Mr. Allen’s intentions were meant to create harmful effects. Even though he could have benefited financially by sharing the information, other investors could have been negatively affected.
Third, the foreseen or expected beneficial effects should equal or exceed the expected or foreseen harmful effects. In Allen’s case, only two people were to benefit at the expense of all other investors. Thus, the foreseen benefits were less than the expected harmful effects.
Finally, the expected beneficial effects should not be attained “by the means of the foreseen harmful effects” (Ferrell and Fraedrich, 2011, p. 62). Thus, Mr. Allen and his friend were not expected to take advantage of other investors’ ignorance to trade on the shares of the companies that were to be acquired. This leads to the conclusion that Mr. Allen’s actions were unethical.
The theory of contract ethics asserts that the relationship between businesses should be based on mutuality and reciprocity (Ferrell and Fraedrich, 2011, p. 71). Mercer L.L.C had been entrusted with the task of handling the sale of the American companies.
Hence, it was expected to reciprocate by restricting access to information about the transactions. This was not achieved since Mercer’s employee, Mr. Allen, disclosed the information. According to the principle of opportunity, investors should have equal access to transaction information. Thus, non-public information should be inaccessible to all investors.
Mr. Allen’s unethical behavior or act can be avoided through the following measures. First, the management of Mercer L.L.C should focus on selecting the right employees. The human resources department should identify a set of attributes that must be exhibited by potential employees (Djurkovic and Maric, 2010, pp. 410-430).
For example, financial advisors should be able to keep classified information and uphold high ethical standards. The identified attributes should then be used to screen applicants during the selection process (Djurkovic and Maric, 2010, pp. 410-430). Hence, the company will be able to select and employ people of integrity or individuals who understand the importance of business ethics.
Second, the employees should be sensitized on the importance of engaging in ethical behaviors. This can be achieved through on-the-job training programs. The trainings should enable the employees to differentiate between ethical and unethical behavior (Djurkovic and Maric, 2010, pp. 410-430).
Additionally, the training program should enable the employees to understand the consequences of engaging in ethical or unethical behavior. In this context, the employees should learn the beneficial effects of ethical behavior and the harmful effects of unethical behavior.
The training programs should be reinforced with mentorship programs. The mentorship programs should involve the senior and junior employees so that ethics become part of the organization’s culture (Djurkovic and Maric, 2010, pp. 410-430). The mentorship programs will also enable the employees to identify with the ethics that guide their company.
Third, disciplinary action should be taken against employees who deliberately fail to respect and follow the company’s ethical standards (Vitell, Ramos, and Nishishara, 2010, pp. 467-483). Besides, employees who make an effort to follow the prescribed ethical standards should be rewarded.
Disciplinary action will discourage employees from engaging in unethical behavior. The rewards, on the other hand, will encourage employees to engage in ethical behavior (Vitell, Ramos, and Nishishara, 2010, pp. 467-483). Finally, access to classified information should be restricted.
Sensitive information should not be accessed by unauthorized employees. For example, passwords can be used to restrict access to files and databases that contain important information.
The affected stakeholders include Mr. Allen and his friend, Mercer L.L.C and the investors who were interested in the shares of the companies which were to be purchased. Each of these stakeholders was affected in the following ways. Mr. Allen incurred high costs in terms of legal fees and the bond he had to pay in order to be freed as he awaits his sentencing.
These costs, possibly, had negative effects on Mr. Allen’s personal investments. In future, Mr. Allen is not likely to get a job as a financial advisor due to the following reasons. Currently, he is 45 years old and the offence he committed attracts a penalty of up to 20 years in jail.
Thus, by the time he completes his jail term he shall have also reached the retirement age of 65 years. He is also not likely to be employed due to his criminal record. Most American companies prefer to employ individuals with no criminal records.
Mr. Allen’s friend enjoyed the beneficial effects of the unethical behavior. In particular, he is likely to have gained financially, by using inside tips to trade on the shares of the companies that were to be acquired.
The immediate negative effects on Mercer include the loss of their employee, Mr. Allen, as well as, a bad reputation in the industry. Mercer had to incur the costs of employing a new advisor as Allen goes to jail. Additionally, the company is likely to be associated with unethical behavior.
Thus, investors are not likely to use Mercer L.L.C as their financial advisor in future. The resulting effect will be a reduction in profits and market share. The investors who held shares of the companies which were to be sold are likely to have incurred losses. This is because the information shared by Mr. Allen is likely to have negatively affected the share prices.
Mr. Allen was found guilty of committing securities fraud by illegally sharing with his friend inside tips concerning the sale of two companies. His behavior was unethical since it did not conform to ethical principles. In particular, his behavior was meant to benefit him and his friend at the expense of other investors.
His behavior also had negative effects on the reputation of his employer, Mercer L.L.C. Above all sharing inside tips with third parties for the purpose of financial gains is prohibited by the laws that govern trading in securities.
Mercer can avoid such unethical behaviors by verifying the integrity of its employees during the employee selection process. The company can also sensitize its employees on the importance of ethical behavior. In conclusion, unethical behaviors normally have adverse effects on the stakeholders of a firm. Thus, all businesses must encourage ethical behavior in order to remain competitive.
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