Rethinking the social responsibility of business Essay

Rethinking the social responsibility of business - Essay Example Every organization works with the goal of making some money. Either they consider that as profit earned or that contribute to the society by providing value addition to their stakeholders or they need that money to re-invest and cover the cost of their running business. But in any-case money is required. Thus, if a businessman complies to the social responsibility only, he/she will be required to behave in many ways which provide no benefits and in some cases loss to the owner of the business. For example, if he starts hiring hardcore unemployed people in the organization for contributing to reducing unemployment from the society and not well equipped and highly qualified workers, the company’s performance will greatly suffer and the owner will be in great debts ultimately. Jhon Mackey has made a major mistake in statement where he openly declared that the shareholders have the right to leave the company and invest their money elsewhere. This portrays his un-professional attitude, as the investors and the shareholders are the major assets for the company form where all the funding is coming in. For any business, it is very essential that the shareholders and the investors remain happy with the company’s and its employee’s performance, else the company will not survive and go bankrupt.

Inventory Accounting Essay Example for Free

Inventory Accounting Essay 1.  Ã‚  Ã‚  Ã‚  Ã‚   Inventory costs: The use of LIFO for determining inventory costs under International Accounting Standards is prohibited, while it is permitted under US GAAP. 2.  Ã‚  Ã‚  Ã‚  Ã‚   Reversal of inventory write downs: Under IAS, it is required if certain criteria are met whereas US GAAP strictly prohibits it. 3.  Ã‚  Ã‚  Ã‚  Ã‚   Basis of Inventory valuation: Under IAS, the inventory is carried at the lower of cost or net realizable value (NRV). Under US GAAP, Carried at the lower of cost and market (market is the lower of replacement cost and NRV minus normal profit margin). 4.  Ã‚  Ã‚  Ã‚  Ã‚   Whether the costs of idle capacity and spoilage can be included in inventory Under IAS, it is prohibited. Under US GAAP, it is permitted. The change to IAS will avoid the biggest disadvantage of US GAAP that is; it permits LIFO to be used for inventory valuation where the oldest inventory costs are assigned to the inventory account which, when prices are changing can result in an inventory value that does not reflect the true current value. Also, in case of shift to IAS, US companies will not be able to show lower profits by using LIFO when prices are rising. US GAAP helped the companies to reduce their payment of taxes. Under US GAAP, extraordinary items are permitted but restricted to infrequent, unusual and rare items that affect profit and loss. However, it is prohibited under IAS. Thus, extraordinary items give companies somewhat of a hall pass with the markets, allowing them to sometimes report lower earnings but get credit for higher earnings. Obviously, it is tempting for companies to try to report every bad thing that happens as an extraordinary item. This can be avoided once IAS is in place. IAS is more comprehensive and clear. It would avoid misinterpretation by the companies.

On Style :: Style Toward Clarity Elements Writing Essays

On Style Style is a very ambiguous word. Asking the question, â€Å"What is Style?† is almost a philosophical endeavor, comparable with â€Å"What is Truth?† Asking the question, â€Å"What is Good Style?† is even harder. Society’s boundaries are constantly shifting to accept or banish items from the definition, in art and writing specifically. Yet there are certain elements that remain constant in all these changes, and these are the elements that style manuals try to pin down. Before the class reading/blogging project began, I thought of style as the method a writer uses to communicate his/her ideas to the reader. I still do. If the point of writing is to communicate ideas, and the vehicle we use to transport the ideas from our brains to our readers is our STYLE, then the most important element of style is being clear. What I have learned from reading Strunk and White's The Elements of Style and Joseph William's Style Toward Clarity and Grace is that there are a variety of ways to make writing clear. Each book has its own unique approach to the problem of establishing clear communication in print. Strunk and White’s method of attack is from the angle of the writer. The rules outlined in the book focus on the writer’s image of what he is communicating. The rules are designed to help the writer sort through her own thoughts on paper, and extract the essence of what is being communicated. The theory seems to be that clearer writing begets clearer thinking. For example, rule #14 in Strunk and white states "Use the active voice." If we compare the two sentences given in the example; "Do not say: There were a great number of dead leaves lying on the ground. Do say: Dead leaves covered the ground." (S&W 18) we see how the active voice communicates more clearly than the passive. The excess words get in the way of what the writer is trying to say. This is compounded in rule #17, â€Å"Omit needless words.† The passage states that â€Å"Vigorous writing is concise.† (S&W 23) This reference to vigor and other health terms is mirrored in other rules, and is a clue-in to the entire Strunk and White approach to style. Good style to them is a way of thinking, a confidence in thought that lends itself to forceful, clear statements by the writer. Williams Style Toward Clarity and Grace carries on many of the same rules that are laid down in Strunk and White, only with a different approach.

Role Model

Dr. Martin Luther King Jr Dr Martin Luther King Jr is my role model because he dedicated his life to helping the civil rights movement. He’s someone that I look up to because of his strong will power perseverance, and determination. Dr King’s worldview was to have equal rights and opportunities for all people despite what their nationality was. I share the same worldview as Dr King in regards to equal rights and standing for what you believe in. Dr King wanted to world to evolve in its way of thinking because he saw firsthand how African Americans were being treated.Dr King is my role model because he fought to change my history. Dr King didn’t only want to see a change happen for his self and others but also for his family. He had a wife Coretta and four children; these were the people who he wanted to see change happen for the most. After King’s death is family wanted to keep his legacy alive because they knew he stood for a good cause. According to the article A king family tribute â€Å"Family and friends remember Dr. King as a role model and dedicate themselves to his mission. Watkins, Dr.King's niece, has assembled their writings and excerpts from their speeches. All pay tribute to his spirit, abiding faith and dedication to the cause of civil rights, and they affirm their own commitment to â€Å"following the path he walked,† as his nephew, Derek B. King, states. King's father's remarks are excerpted from his autobiography. Dr King is my personal role model because is stood for what he believed in. Dr king helped shape my worldview because through his hard work he’s shown me that nothing worth fighting for comes easy.I think a lot of people look over the fact that Dr King wasn’t just trying to change the race problem it stood of many different social issues. In the article Martin Luther King Jr conception of freedom and radical democracy the author states that â€Å"king came to believe that the civil ri ghts struggle needed to expand beyond just racial desegregation in this country, He began to raise his voice against racism militarism, and economic exploitation around the world†. This is another reason why I look up to him because he didn’t only focus on one hing that needed to be changed so saw the importance of these issues and wanted to change them. Dr. king had a career as a pastor which is why I feel he never gave up believing in what he thought was right. The article Martin Luther King cover story gives background on his life â€Å"King was a preacher who spoke in biblical cadences ideally suited to leading a stride toward freedom that found its inspiration in the Old Testament story of the Israelites and the New Testament gospel of Jesus Christ.Being a minister not only put King in touch with the spirit of the black masses but also gave him a base within the black church, then and now the strongest and most independent of black institutions†. Like Dr Kin g I believe that everyone should have the right to freedom and equal rights ; However, I don’t know if I could have endured the things that Dr king had to. Once Dr King was thrown in jail because of his protest, I think if I knew I could go to jail because I was protesting I wouldn’t protest.On the other Dr King who have pathed the way for me to be able to use my freedom of speech. I would want to be brave and stand for what I believe in for myself and my family just as King did. Reference MARTIN LUTHER KING JR. A King Family Tribute. (2012). Kirkus Reviews, 80(24), 222. Orosco, J. M. (2001). Martin Luther King, Jr. ’s Conception of Freedom and Radical Democracy. Journal Of Social Philosophy, 32(4), 386-401. White, J. E. (1998). Martin Luther King. (Cover story). Time, 151(14), 160.

Human Resource Management. Motivation. Maslow.

Motivation- Having the will or desire to go ahead and do something or to work that little bit harder. Why we need motivation? Motivation may come from a person’s own interest such as their safety or other things not so personal like praise or reward. Different theorists have proposed that there are many different ways to motivate people. Pay is considered a main type of motivation in a work environment and outside a work environment. Pay however is not the only way of motivation.There are other ways that people may be motivated and things that will keep them motivated. These types of things are appreciation of work, opportunity to advance, responsibility and empowerment, a sense of achievement and the sense of challenge and enjoyment. A motivated workforce will work harder and together achieve more resulting in the whole workforce having a greater output in much less time, resulting in lower labour costs. It also doesn’t need much supervision. An unmotivated workforce w ill do the opposite.This work affects the amount of work and its quality. How to motivate is a difficult topic with everyone looking for something in a job sometimes not just pay. So a number of theorists have researched how this should be done. Frederic Taylor motivation in the late 1800s at the Bethlehem steel company in the USA. He believed that employees could be working more efficiently using their shovels. He figured out that 21. 5 pounds of weight was the best weight of material for an employee to lift in order to work at their full potential creating the best output.He recommended that they use shovels that could lift that amount. So Rewards that would be part of Taylor’s theory are things such as: * Pay :-For many employees the reason they go to work is for pay. They need money for bills and other expenses involved in everyday life. Some organisations will use pay as a reward for employees. They may be given additional pay in the form of a one off bonus or by giving employees a pay rise. However pay not be the key motivator to employees and some employees will work for low pay but may have job satisfaction.Tesco uses this form of reward to all employees. * Performance related pay :- This is a way for employees to be rewarded dependent on their performance in the last three, six, or twelve months. Lots of types of businesses use this type of reward and so will Tesco to its higher job roles such as management and so on. It is very common for manufacturing and sales jobs where the more products or sales the employees make the more they are paid. Area managers at Tesco will be paid more if their area is performing faster and of a higher standard. Profit sharing :- Profit sharing is when a business gives its employees a share of the businesses profits depending on how well the business is doing. Shares are divided between employees depending on how many years the employee has worked at the organisation and their level in the organisation. If the bus iness is doing well the employees will see great benefits but if the business isn’t doing too well the payment will be small. Tesco will once again offer this to much higher staff such as managers and directors. * Employee Share options – Share options, like profit sharing are a way to reward employees based on a company’s performance. Share options can be given to employees free shares that they can sell after a set period of time or as an option to buy shares at a lower fixed rate than what the general public would pay. It can be quite difficult for employees to see how their individual commitment will affect the overall running and company performance. * Staff discounts :-Businesses such as Tesco and other businesses in this type of sector may offer discounts on products to their staff. Elton Mayo.In the 1920s and 30’s a theorist by the name of Elton Mayo set out about perfecting the ideas of Taylor and explored them in further depth he realised there was more to employee motivation than just pay. He created a study known as the Hawthorne Study, he carried out some experiments in the USA, Chicago to investigate motivation further. His study discovered a number of factors by testing incentive schemes, rest periods, hours of work, and changes in lighting and heating. Mayo’s whole study uncovered that rises in productivity were not only due to financial rewards, but also due to management involvement, team working and communication.So Rewards that would be part of Mayo’s theory are things such as: * Company Vehicles :- Company vehicles may be given to employees as a reward. They can use these vehicles in both their working and their personal lives and do not need their own vehicles for evenings and weekends. This kind of benefit like bonuses is taxed. Higher employees in Tesco may receive a company car this is good for both employee and employer, because the employee feels a sense of belonging and the employer will usu al have free advertisement because the company car will have the logo of the organisation just like Tesco’s does. Childcare :- childcare is another reward that employers may offer to their staff. The childcare may be within the building with something like a nursery or creche, whilst other employees may pay toward the fees of a private or council nursery. For older children after school activities or holiday clubs may be paid for or subsided Tesco offers childcare schemes to most Tesco staff. * Corporate clothing :- Corporate clothing may be a uniform that an employee wears during their working hours as part of their job. Employers might also offer their staff a discount on clothing they can buy from the business.Some organisations use staff as Part of their identity, for example you can recognise staff from Tesco by their work apparel. * Flexible working :- Organisations like Tesco can offer employees special working hours which can be more motivating for staff helping them balance their working lives and their personal life. Work –Life balance can be very important to employees, especially if they have people to take care of or other personnel commitments. Flexible working hours usually makes employees feel more valued and less stressed. * Leave – offering yearly paid leave to employees is another form of a reward that is offered by Tesco. As of the 1st of April 2009 every full time employee is entitled to 5. 6 weeks paid leave per year as part of the working time regulation. * Cafeteria incentive schemes :- The name is a reference to the way you can pick what you want from a selection of different rewards and benefits and chose the ones they want. Making these rewards more personnel and motivating. The employer therefore, avoids spending money on rewards that are not wanted or needed. A sample of the type of benefits offered is things such as: Holidays * Company car * Bicycle loan * Insurance, e. g. medical cover * Loans * Childcare * H ealth screening * Season tickets for sporting events * Computers * Discounts * Pensions. Abraham Maslow suggested needs of individuals can be ranked into a hierarchy. The lowest ranking needs are basic needs and they must be fulfilled before any other needs can be fulfilled So Rewards that would be part of Maslow’s theory are things such as: * Pension schemes :- Some organisations like Tesco offer pension schemes such as rewards to employees these are usually one of two types.Contributory and non contributory. A contributory pension scheme is one that both the employee and employer put into, whilst a non-contributory pension scheme is one where only the employer puts money in to. Tesco employees all have the option of opening a contributory pension scheme they can open but also have the choice not to have one. * Health care :- many employers offer free or subsided health care to their employees and often their families as well. This means that if they are ill they can claim f rom organisations such as BUPA to have treatment privately.Health care may be given in the form of discount vouchers for treatments such as massages or beauty therapy. * Extended parental leave :- Extended parental leave is the amount of leave that can be taken by employees to look after their children in addition to what they are entitled to by law so tesco must offer leave however they also offer extended parental leave to higher management or skilled staff. – the work and families act 2006 ensures that all parents can take a certain number of weeks off work however it is not paid and neither is extended parental leave.But some employees may choose to pay full wage or half wage to employees who are taken leave and the organisation must keep their job position open for them until they return. * Career Breaks :-Employees are not entitled to a career break and they are also unpaid. They cannot also be guaranteed that once they return they will be placed in the exact same Job. Some organisations such as Tesco can offer these types of breaks because they may also bring benefits to the organisation.Key staffs are not lost, employees may return to work refreshed and happier and therefore more motivated also the organisation is seen to be caring for the well being of their employees. It is more common for employees over the age of 35 to take a career break rather than younger employees. * Salary Sacrifice schemes :- These schemes enable employees to give up some of their gross salary to receive a form of a reward or benefit instead. The advantage of using this scheme is that the employee or employer will not have to pay as much tax or national insurance.Tesco can offer salary sacrifice schemes to all levels of employees for example the options for floor staff to have a pension scheme or not. Frederick Herzberg Frederick Herzberg had close links with Maslow and believed in a two factor theory of motivation. He argued that there were certain factors that a busi ness could introduce that would motivate employees to work harder, these are called motivators. But on the other hand there were also factors that would de-motivate an employee these are called hygiene factors So Rewards that would be part of Herzberg’s theory are things such as: * Bonuses -Bonuses can be a god way of rewarding employees with extra money. When they are paid a bonus this doesn’t have to be done every year. They are a reward that many employees like to receive however bonuses like pay do require tax and national insurance to be paid. Other forms of rewards that tesco do not offer but could are things such as * School Fees :- some employers will offer to cover or contribute to school fees as areward to the employee. This happens especially if the employee teaches or works for the school that their child attends.If an employer had a number of employees that’s children went to a particular school the employee may be able to gain a discount. Loans/ ad vances :-sometimes employees may have large expenses they have to pay for in their personal life so employers may offer part of their future wages (an advance) to be paid in to their account. Employers may also offer loans, often with a special low rate interest. * Mortgage subsides :- mortgage subsides are payments that are given to employees to pay toward their mortgages.This reward scheme is usually used in areas where the housing is very expensive. Some organisations such as banks offer mortgage subsiders as part of their employee’s benefits. * Relocation Fees :- A relocation fee is the money that is paid to relocate an employee as part of their new or current job. There is no automatic right to receive relocation fees and some organisations will willingly pay for all expenses. This option will be placed on the type of position that the employee has in the organisation and how long they have worked for the organisation.