The Internal Control Weaknesses Samples †MyAssignmenthelp.com

Question: Talk about the Audit and Internal Control Weaknesses. Answer: Presentation The inner control shortcomings are critical for the business association as these assume indispensable jobs in blocking the proficiency of the business association. Henceforth, it is basic for the business association to perceive the inner control shortcomings so that can limit the impact of the shortcomings just as the association can attempt to convey powerful estimates that help in relieving the shortcoming in addition with the impact of the weaknesses[1]. Ideal identification of the shortcoming helps in structuring the solutions for the shortcoming. The inward control framework is considered as the shield to the business association. The inside review is chiefly a casual audit of the business association by its proprietors or bookkeepers. The inner control shows the specific arrangements of the business association and the proprietor of the business just as the directors and workers ought to follow these in the business. The interior control framework has barely any shortcomings, and the business association must address these inner control shortcomings. Five Internal control shortcomings Ordinary supplies are delineated to show the single discount retailer of the assortment of the digging tools and the nursery supplies with including the electrical apparatuses. The five inward control shortcomings that are characterized for this situation is being portrayed in the accompanying focuses, and furthermore it is demonstrating the cures by the assistance of the which it very well may be handily relieved. Coming up next are given beneath: - The shortcoming of Credit Management: The shortcoming of the credit the board is being recognized for this situation which is being clarified. The administration of the organization Everyday Supplies Pty Ltd is demonstrated to permit the record based exchanges who are delineated to be past the morals of the company[2]. The chiefs are appeared to give this office to the familiarities and furthermore this is being recognized as the most significant issue as it is being delineated for this situation. Different clients are furnished with the provisions by the money or the credit installments. This is being distinguished as an issue which must be moderated by the supervisor for the improvement of the organization. The cure which can be given to this case as it is being outlined shows the wrong administration of the clients which is being made by the supervisor of the Everyday Supplies Pty Ltd. The organization must relieve this issue by the assistance of rolling out certain improvements i n the arrangement of the provisions and furthermore the upgrade of the client can be effortlessly portrayed for the company[3]. The shortcoming of Account receivable management: This issue is being recognized by the assistance of the readiness of the month to month records which are PC produced account receivables. It is being made without compromise and furthermore the issue is speaking to the unseemly count of the month to month past due that are made in the accounts[4]. The administration is shown to be liable for this issue, and furthermore the clarification of the work isn't suitably led by the manager while directing this appraisal. As a piece of the cure, the lead is being made by demonstrating the unseemly upkeep of the work, and furthermore the direct should be effectively overwhelmed by indicating the delineations of the procedure in a suitable manner. The administration must be made by making mindfulness in the supervisory group as the case is being shown for Everyday Supplies Pty Ltd. The shortcoming of Cash Handling: The acknowledgment of the procedure of hazard age is significant for endorsing powerful solutions for the business that help in limiting the hazard. The administration should attempt to identify the inward control hazard and the cures so as to improve the business viability just as to improve the inspecting exhibitions that upgrade the trust and notoriety of the business organization[5]. The money taking care of is one of the significant undertakings of the business associations that inalienable sufficient degree of business hazard. The clerk is liable for the money taking care of for the benefit of the business association. He uses to count the checks with the bookkeepers, check the checks and organizing them. At that point he stores the checks in the banks. The methodology have a huge intrinsic hazard as slight missteps of the procedure can welcome significant misfortune to the business association. The shortcoming of Bookkeeping: This issue is delineating the fundamental exchanges are being made by an inappropriate judgment of the records. The improvement of this improper exchange is portrayed to demonstrate the entire work in an unseemly manner and furthermore the foundation of the precise data is delineated to be basic for the upgrade of the study[6]. The usage of the following data frameworks, with evacuating the guile of the fiscal reports are likewise delineated as the piece of this procedure. This is basically indicating the exact estimations which are being attempted for this exchange issues, and furthermore the unseemly administration must be expelled by actualizing this progression as a cure. The expense computation deficiencies are additionally distinguished as an issue for this situation which is seen because of the deferring of the procedure and furthermore the administration is being made by indicating the representation of the examination. Along these lines this h azard the executives can be effectively made by the Everyday Supplies Pty Ltd which will empower the organization to have a proper proclamation is being made by indicating the discount accounts and furthermore this cure must be started for the advancement of the organization. Along these lines the administration of this issue is properly made for the improvement of the investigation was embraced for this situation of Everyday Supplies Pty Ltd[7]. Shortcoming of Write-offs: When an association gives items or administrations on layaway to the clients, at that point a few clients will most likely be unable to pay the due sums. The compose of the technique is utilized to post in the record of the uncollectible receivable. The organization discounts the record just when the clients can't pay the due sums. At the point when the bookkeeper discounts the uncollectible, at that point it charges the sums as the awful obligation cost on the benefit or misfortune statement[8]. The costs can happen in a period after the record of the underlying deal that damages the coordinating standard. Record receivable is the current resource that speaks to the measure of cash due from the clients. The put down off strategy account the record receivable sum at the hour of the deal. Along these lines, if the sum gets uncollectible than the parity of record receivable will turn out to be high. The accounting report worth will be influenced. The awful ob ligation costs are at some point introduced in the later period that may prompt the unseemly portrayal of the benefits in the salary articulation. The overall revenue can increment or reduction with the introduction of the awful cost. The discount strategy gave a space to control the estimations of the things in the monetary statements[9]. Attestations: Presence: The records in a critical position sheet ought to be value, liabilities, and resources. Rights and commitments: The partnership has the rights over their possessed resources and furthermore obligated to pay the liabilities. Fulfillment: The organization needs to report resources, liabilities and value adjusts in a suitable way and it ought to be revealed completely to be decided sheet[10]. Valuation and assignment: The things in the liabilities, value, and resources record ought to be assessed and introduced at their appropriate valuations to be decided sheet. Trial of control for money receipts: Event: The organization should utilize two clerks while checking the equalizations, perusing the email, settlement guidance, posting the check and storing the checks. Fulfillment: The bookkeeper ought to get ready diaries for all the exchanges and afterward posting it on the record account. All the money sum stored in the bank ought to be recorded in a suitable manner[11]. Exactness: The parities of the records ought to be recorded for all the exchanges and created incomes from the exchanges. Remove: The bookkeeper should follow all the stores so as to guarantee that the sums are recorded during the bookkeeping time frame. Order: The grouping of the exchange ought to be founded on the necessity of the money related statements[12]. End The proprietor and the executives of the business associations must recognize the inside control shortcomings association as these can hinder the exhibition of the business association. Aside from this, due to the inside control shortcoming the exhibitions of examining capacities can likewise be diminished. Because of the shortcomings in inside control framework, the embraced business association named Everyday Supplies Pty Ltd has confronted extreme issue that hinder the development possibilities of the association. Aside from this, it makes the inspecting assignments tricky, and a few reviewing issues take puts because of the inside control shortcomings of the firm. References Appannaiah, H, P Reddy, R Putty,Financial bookkeeping. in , Mumbai [India], Himalaya Pub. House, 2010. Besley, S,Corporate fund. in , [Place of distribution not identified], Cengage Learning, 2016. Britton, A, C Waterston,Financial bookkeeping. in , Harlow, Financial Times Prentice Hall, 2013. Helbk, M, S Lindset, B McLellan,Corporate fund. in , Maidenhead, Berkshire, Open University Press/McGraw-Hill Education, 2010. Holton, R,Global fund. in , Abingdon, Oxon, Routledge, 2012. Parrino, R,Corporate Finance. in , Singapore, John Wiley Sons, 2015. Forces, M, B Needles,Financial bookkeeping. in , [Mason], South-Western, Cengage Learning, 2012. Spiceland, J,Intermediate bookkeeping. in , Toronto, ON, McGraw-Hill Ryerson, 2010. Stice, J, E Stice,Intermediate bookkeeping. in , Mason, South-Western/Cengage Learning, 2014. Weil, R,Financial bookkeeping. in , [Place of distribution not ident

Bruce Dawe Essay Example

Bruce Dawe Essay Discourse in content, adds to our comprehension about individuals, social issues and life. Sonnets that utilization discourse incorporate ‘Weapons Training’, ‘Pleasant Sunday Afternoon’ and ‘Enter without such an extensive amount knocking’, composed by Bruce Dawe. The topics these sonnets express incorporate take a stab at satisfaction and satisfaction and benefit as much as possible from life. Another content that additionally shows these subjects is ‘Friday’ coordinated by F. Gary Gray. This exposition will investigate the investigation of discourse and how it gives a superior comprehension of human instinct and connections. The sonnet ‘Weapons Training’ composed by Bruce Dawe is monolog from military teacher that is addressing initiates on what to do in a fight circumstance. Dawe communicates his thoughts regarding military life utilizing procedures, for example, comical tone and distinctive symbolism. Dawe utilizes silly tone in the sonnet to communicate how the speaker is of a higher position and along these lines exceptionally fearless, due to this he embarrasses his enlisted people. A case of this is the point at which the speaker says ‘open that channel you call a psyche and listen’ the speaker says this to cause the volunteers to feel little and vulnerable so they fall in line. We will compose a custom article test on Bruce Dawe explicitly for you for just $16.38 $13.9/page Request now We will compose a custom paper test on Bruce Dawe explicitly for you FOR ONLY $16.38 $13.9/page Recruit Writer We will compose a custom paper test on Bruce Dawe explicitly for you FOR ONLY $16.38 $13.9/page Recruit Writer This method is additionally utilized in the film ‘Friday’ where smokey is educating Craig concerning how deebo (the local domineering jerk) has a psyche command over him however is extremely frightful of deebo. A case of this is when smokey says â€Å"I dealt with Deebo. He resemble shut the f**k up. I hush up. In any case, when he leave, I be talking once more. † This is all so the volunteers focus on what he says so they ideally endure fight. Clear symbolism is utilized by Dawe to show the volunteers and perusers what can occur in war, ‘they’re on you and your tripe’s are around your neck’, and this is stating that if the enlisted people don’t listen they might be slaughtered. Incongruity is utilized all through the sonnet; a case of this is the title â€Å"Pleasant Sunday Afternoon† the title persuades you to accept that the sonnet is about a â€Å"pleasant† Sunday evening, he decides to do this so the peruser can have the idea of a sprightly sonnet; anyway this isn't the situation. The sonnet presents a circumstance of miscommunication and comprehension. â€Å"Enter Without So Much as Knocking† by Bruce Dawe is a case of a free stanza sonnet since it forgoes any example or rhyme. The sonnet seems, by all accounts, to resemble an ordinary discourse discussion. This sort of structure features and stresses the sonnet, making a great deal of feeling. The subject of this sonnet is human condition since it incorporates the existence cycle. It is about the life of a man from the day he showed up on earth to the day he left. It additionally considers the pointlessness of life by communicating all the standards and guidelines we have controlling our lives. This identifies with the statement since it demonstrating an away from of our life on this planet. Dawe shows that everything on our planet is â€Å"fixed up†; it is rarely left immaculate and characteristic. â€Å"A unadulterated edge of sky, covered with gaze nobody had got around to repairing yet†, which makes incongruity in light of the word â€Å"littered† since the stars are the main unadulterated thing Dawe makes reference to in the sonnet. Dawe utilizes embellishment to communicate humor, so as to show the negative parts of life. The outrageous utilization of embellishment is conveyed in the line â€Å"NO BREATHING EXCEPT BY ORDER. Be careful With THIS. WATCH OUT FOR THAT†. Three of the refrains in youth and middle age start with connect words: However, Anyway, Now, They speak to the quick pace of the sonnet and life. Through the sonnet ‘Enter Without So Much as Knocking’, Bruce Dawe utilizes idyllic techniques to communicate his message. Dawe utilizes strategies, for example, basic, graphic language and Catch 22 to express his interests for contemporary society, especially the narrow-mindedness and consumerist esteems that corrupt the ethical honesty of its occupants. To additionally underline his interests and disappointment towards the general public, Dawe utilizes an unknown hero to infer that anybody could identified with it subsequently making a feeling of understanding and compelling feelings inside the crowd. Bruce Dawe has utilized unmistakable language to clarify on the materialistic world he accepts he lives in. Illustrative language is a typical procedure utilized in writings yet viable and in this sonnet, Dawe has utilized it to allegorically depict the protagonist’s family. In the second refrain, the dad is being contrasted with the suit ‘Anthony-Squires-Coolstream-Summerweight’ and the kids are supposed to be ‘straight off the Junior Department rack’. The Advertising Jargon utilized passes on a feeling of realism inside the family, as though life is being offered to the hero. For instance, when the youngsters were depicted as being ‘straight off the Junior Department rack’ was utilized to show that the kids needn't bother with names, sexual orientation or portrayal (aside from the garments they are wearing was what everybody their age wore) as all the family considered was the manner by which to resemble every other person to the degree where they were no different. Dawe portrayed the family as though they were not become however purchased and built as families were no different to the hero.

For the love of 6.470, Montresor

For the love of 6.470, Montresor As the blogs are quick to harp upon, MIT thrives over the month of IAP, particularly in the context of its coding/robotics competitions. There are lots of other things going on, but as far as structured activities go, Im usually only concerned with some subset of these activities, all of which are numbered very inconsistently with respect to the usual scheme and to each other: Maslab Mobile Autonomous Systems Laboratory 6.270 Autonomous Robot Design Competition 6.370 Battlecode, a.k.a. Write Your Own A.I. For A Game Of Heavily Bytecode-Limited Starcraft 6.470 Web Programming Competition 6.570 Mobile App Competition 6.S912   Pokerbots Hordes of students fanatically devote their relaxing, month-long vacations to these vicious battles, which are typically organized by winners from previous years and are built around new themes every year, so that you cant recycle old strategies. Most of the finals are run cage-deathmatch style, minus the cage and death parts. 6.470 finals are pretty boring in that sense, because the winners have already been determined and the teams just give presentations about their sites, but the robot matches are obviously physical, and the Battlecode organizers write a nice game display so that everyone can see units dramatically exploding on the map during the live commentaries by the finalists. Extra incentives include Free Stuff (paradoxically, we will do more to get a free T-shirt than we will for the amount of cash it took to buy the T-shirt) and recruiters itching for coders to give jobs to. Ive spent the past two IAPs doing internships for software companies, which was fun but kind of hectic. So this IAP, I decided to uphold my halls glorious tradition of overpopulating these competitions by teaming up with hallmates Stephan 13 and Mark 13. Last year, one of our freshmen, Kamran 14, won 6.470 with something he made in three days, and was deemed too good to participate ever again. The year before that, a group of our then-freshmen (13) teamed up for 6.270 and won a bunch of computers and ukuleles as their second place prize, sparking mini-revolutions in both dorm automation and twangy covers of indie songs, while Dan 10 went ahead and won 6.470. The year before that, a mostly-freshman team consisting of me and a bunch of other ex-USACOers faced off in the the Battlecode finals against Dan, and were subsequently destroyed. This is not particularly surprising, since he was a Battlecode finalist for four years, while simultaneously landing in the top four in 6.470 both year s he competed, and his biceps were each roughly as large around as our scrawny nerd bodies at the time. I am too tired to keep spinning the backstory, so Ill cut to the chase: if correlation implied causation, then living on my hall would make you pretty good at web development. On a similar note, if P = NPwell, lets not get into that. What I actually want to ramble about is our site, Asler. Our friend Gustavo sold us on the idea of making an American Sign Language learning site, and we were pretty intrigued by the idea of making an ASL reverse lookup its apparently a common problem to remember sign motions but forget the corresponding meaning when you start learning. We had to scrap a bunch of early ideas involving machine vision and webcam capture due to the time constraints of IAP, but Stephan, who was born under a lucky star, pushed a rudimentary but perfectly working reverse lookup to our code repository half an hour before the deadline. We have a lot of other cool features working, too, and we think Asler has a lot of potential to grow and self-moderate on its own thanks to a Reddit/StackOverflow-inspired system of user generated content and karma/reputation tracking. So if you want to learn American Sign Language, or want to play the ridiculously addictive ASL alphabet learning game that Mark built, or know someone who is already fluent and wants to help us kickstart an online ASL community, check it out!  I wont make any money if you do; in fact, the Amazon S3 bucket were using to store videos charges directly to my debit card, so Ill definitely lose money, but wed like to see people try this thing out even though there are still a lot of rough edges and functionality to add. At least the high-pressure part is over. No more nights where we actually decide it would be a good idea to work with sunglasses on because weve been staring at our glaring screens for too long. tl;dr:   IAP competitions are really fun exercise for your Course VI-y muscles check out Asler!

Gender Correlation Of The Myers Briggs Type Indicator

Gender Correlations in Regards to the Myers-Briggs Type Indicator Mary E. Pyper Aquinas College Abstract One hundred seventy-eight anonymous participants (120 females, 48 males, and 10 non-specified genders) between the ages of 18 and 26 participated in a fifteen question survey regarding how portions of the Myers Briggs Type Indicator (MBTI) relate to age and gender. The participants were selected by convenience sampling. Using questions designed to determine two aspects of each subject’s personality type—whether they relied on Intuition and Sensing, and Thinking or Feeling—and comparing this data with gender, no significant correlation between MBTI score and gender were found. A significant positive correlation between age and Sensing†¦show more content†¦Based on a theory proposed by Carl Jung, the test measures four aspects of personality tested using semantic differentials; Extrovert (E)-Introvert (I), Sensation (S)-Intuition (N), Thinking (T)-Feeling (F), and Judging (J)-Perceiving (P). Jung suggested that the foundation of one’s personality is rooted in four of these functions—iNtuition, Sensing, Thinking, and Feeling. This theory was further developed by Isabella Myers and her mother, Katherine Briggs during WWII as a measure to help women find jobs that would fit their personalities, and has been modified and used for professional and personal development (2015). Because the test was written with women in the workforce in mind, we thought there may be gender differences among types. Given the significance of each feature, we chose to focus our study on Jung’s original functions, S-N and F-T. Our hypothesis was that gender would have a significant correlation on personality type. More specifically, males would positively correlate with Sensing and Thinking attributes, while females would have a positive correlation with Intuition and Feeling. In Bak’s correlation, he found that there was a significant correlation between gender and the Thinking-Feeling aspect, and more specifically that men correlat ed positively with T, while women were more likely to be an F. We tested college age students, and assessed correlations for both age and gender.Show MoreRelatedReliability And Validity Of The Myers Briggs Test1330 Words   |  6 PagesReliability and validity of the Myers Briggs test The personality test that I chose to examine in order to determine the reliability and validity was the Jung typology test. This test is based off of the Myers Briggs personality test mold. The test had 5 choices: YES, yes, uncertain, no, and NO. 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Life Changing Moment In My Life - 973 Words

Over the course of my life, there has been many life changing events. One event that had the most impact on my life was breaking my left ankle twice. Breaking my ankle took me down a road feeling miserable and depressed; it altered the trajectory of my future plans and goals during a time of numerous opportunities. Although looking back on the situation, there have been positives that came out of it. Breaking my left ankle for the second time was detrimental due to the timing while completing my junior year in high school. I had a great year in football and received multiple scholarship offers at the end of the year. I also received player of the year and other honorary titles while playing basketball. My senior year began with so much†¦show more content†¦From the ages of seventeen to twenty two, l struggled to cope with my situation. Although I did attend college and continued to play sports, I never seemed to gain control of my situation. Throughout that period of my life , I experienced some things that I am not proud of, but I do not regret any of those experiences. I have learned valuable lessons that has helped me to become the young man that I am today. If it had not been for me breaking my ankle, I may not have been able to handle some of the obstacles that I may experience in the future. After a few years of repeating the same actions expecting different results, I decided that it was time for a change. I had to come to my senses and understand that there was so much more to do and live for. Having this revelation helped me see how valuable I am. I would not let the injury get the best of me, so I began to fight. Fight as in understand the process and refuse to give up no matter how challenging. I had to set many goals, both short term and long term. I figured the process would be much easier if I attacked it one day at a time. It was almost as if I had to recreate my self in the image that I had wanted. 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Minimum Wage in Malaysia Free Essays

Minimum wage in Malaysia: need for it and its’ possible effectiveness 1. 0. Introduction Background Information There has been growing debates concerning the minimum wage in Malaysia, with strong opinions from both sides of the arguments. We will write a custom essay sample on Minimum Wage in Malaysia or any similar topic only for you Order Now In 1979 edition of their introductory textbook, William B. Aumol and Alan Blinder explained, â€Å"The primary consequence of the minimum wage law is not an increase in the incomes of the least skilled workers but a restriction of their employment opportunities† (p. 7). On the other side of the debate, social activists, policymakers and other non-economists often argue for an increase in the minimum wage. Advocates of the minimum wage have included Franklin D. Roosevelt, Martin Luther King, A. Philip Randolph, Walter R. Reuther, Edward Filene, Beatrice and Sydney Webb. Finally, Malaysia took its stance and made its first legislative attempt at putting in place a national minimum wage on twenty first June 2011 . Introduced by Human Resources Deputy Minister, Maznah Mazlan in Parliament, the National Wages Consultative Council (NWCC) bill was tabled for its first reading. Most significantly, the general public does not widely share the negative opinion of the minimum wage, according to surveys. What questions us, is whether there is a need for minimum wage, and if there, how effective it might be. Statement of the Problem This paper will investigate on the need and the effectiveness of the yet to be minimum wage bill among security guards, cleaners with its current value of RM720. The idea of having a national minimum wage in Malaysia has been proposed more than 12 years ago by the Malaysian Trades Union Congress (MTUC), when Tun Mahatir was still the Prime Minister, and has been continuously rejected, until more recently, the current prime minister, Datuk Seri Najib has stated in the Malaysia Budget 2011 speech â€Å"Businesses must embrace the minimum wage as a business strategy†. A minimum wage theoretically, is planned to affect the low-skilled workers such as janitors, cleaners and security, who are paid with low wages which affect their standards of living. With a minimum wage in effect, they were supposed to be able to raise their standards of living and live a more comfortable life. Conversely, Orrenius and Zavodny (2008) and Ragayah Haji mat Zin(2007) argue that the effect of a minimum wage may just put these low skilled workers out of employment because of economic conditions in country, putting the low-skilled workers in an even worse situation: unemployment. Research Purpose This paper aims to investigate whether or not Malaysia is in need for implementation of a national minimum wage, based on the reviews of recent developments in the literature pertaining to the overall effects of a minimum wage, and the opinions of the janitors, cleaners and security guards. The focus is on the perceptions of low-paid workers as mentioned earlier and their satisfaction with the amount they are being paid and whether or not it covered their day to day expenses. Analysis can be made on whether or not these workers were exploited by the absence of a minimum wage and that a minimum wage is indeed can end such situations. To answer the questions surveys will be done and literature review will be made that will analyze on how are salaries are appointed and later on the consequences of implementing the minimum wage. This paper aims to answer the following questions: 1)Is there any need for Malaysia to implement national minimum wage? 2) As for now are low-paid workers are paid enough to cover their daily expenses? )Does the law bring a tangible change? Significance of the Study There are lots of studies pertaining to the issue of minimum wage around the globe, however, only few had focused on the issue being practiced in Malaysia, like Rohayu Abd. Ghani in her article† Salary and Wages in Malaysia† and David Lim in his article â€Å"†Sweet Labor† and Wages in Malaysian Manufacturing† . Referring to the history of an alysis, some have focused on developing countries that have already implemented the minimum wage, like P. Jones, where he discusses issues pertaining Ghana; or first world countries, like M. Bowey and A. Lupton where comprehensive explanation about implementation in United Kingdom was done or D. Neumark and W. Wascher analyzing the situation in USA. This brings us to the conclusion that more studies need to be done to find out the conditions of so-called â€Å"black workers†: janitors, cleaners and security guards in Malaysia. Ironically, many newspaper articles have addressed the economic conditions in Malaysia, the effects of those on citizens of Malaysia. But never the question of implementing the minimum wage policy was taken any further. Findings of the investigation will be helpful in determining if the minimum wage needs to be implemented, to analyze whether it would be actually successful in improving the lives of janitors, cleaners and security guards, and whether or not their current salaries will be sufficient for them to live a comfortable life, as concerning this issue Shireen (1998) has shown that poverty in Malaysia officially seen s as a situation of relative rather than absolute deprivation. By understanding their conditions, a better decision of how the minimum wage could be implemented can be recommended and the proximity of the issue can be understood. 2. Literature review Bowey and Lupton (1982) has discussed that wage and salary administration is complex and subtle, and littered with techniques designed to reduce the complexity for the administrator and cope with the subtleties. The explanations that are brought together are the descriptions of the most important techniques that are available for coping with the principal tasks of wage and salary administration, and shows how and when these may be used. They propagate that there are many systems of payment which attempt to relate earnings to the work done and before any such system can be used it is necessary to assess that work in some way by comparing the nature of the work (eg. Is it heavy work? Does it carry a large amount of responsibility? ), it may also involve assessing the rate at which the employees are working and rewarding them according to their different rates of performance. The first method is job evaluation while latter is work measurement. Regarding this matter they outline that â€Å"Job evaluation and work measurement are two subjective areas which are of crucial importance to the operative and the manager as they radically affect the payback and the quality of work† ( Bowey Lupton, 1982, p. 159). And here is the issue that we have, why is that in some instances, wage amounts differ, regarding the fact that it’s one country, one sector of work, but yet, some workers are abused and get to be paid a very low salary. The inform us that there are three different consideration while salary is being allocated to each job. First, the mechanics of assigning different amount of money to different positions is the job hierarchy and different standards of performance. Second, consideration of the absolute levels of pay which should be given when pay in other organizations is taken into account. Third, the process of negotiation between the management and the union about levels of payment. And exactly the third consideration appears to be quite an issue. Why is that we require the workers to give the just amount of performance, finishing the assigned work, but we aren’t just in giving enough reward for the effort contributed. It appears, that using the power as an upper- manager who hires, the abundance of work supplying the market, especially with the flow of illegal immigrants, workers will have to agree on terms offered. Do we consider the undue influence and abuse of situation as an ethical act? Bowey Lupton(1982) stated that: With management by objectives, the employee and his superior agree a set of objectives for the coming year, and the individual is given salary increase at the end of the year, which is partly determined by how well he has succeeded in achieving those targets (p. ) Theoretically, the wage systems seems just fine. Unfortunately, this is not the case in Malaysia. Plantation workers are initially paid RM350 and can achieve RM700 with bonuses. Would that be enough for an average Malaysian citizen to cover rent, food expenses? They argue that â€Å"If we give equal rations to everyone, who do we designate to carry out the most onerous tasks-and on what basis do we make this choice? † ( Bowey Lupton, 1982, p. 159). In the end, whether we like it or not management has to make decisions about the worth of the contribution comparing different levels of jobs and finally assigns the salary, even if the appointed salary makes it cheaper than in other place as starting amount of salary differs from the budget of one institution to another. Journal Business Asia has analyzed the ambivalent attitude of government to foreign labor. Before the crisis 2. 5 million immigrant workers were regarded as â€Å"undesirable but necessary encumbrance†( Business Asia,2000,p. 2) . It is a very degrading attitude toward human being, be he from first world country or third, but what matters is that, in the end, we can’t change much. Laws and bills are issued, but these workers still are considered cheap workers for black jobs. This type of attitude is problematic, as the accountability and dignity of an employee disappears, especially when allocating the salary. Wikipedia (2011) states that the minimum wa ge that Malaysia has stated for plantation workers is RM350 and that even may reach RM700 with bonuses! The article explains further â€Å"Officially-orchestrated- and mostly employer-funded-repatriation programmes saw the number of registered foreign workers drop below 700,000 by end 1999, from peak of 1. 2million in 1997†(Business Asia,2000,p. 12) . Though, after the pressure from exasperated employers, the government announced the lifting of a freeze on the recruitment of foreign workers, but yet, â€Å"the grudging nature of the concession was underlined by an accompanying list of 138 categories of job† for Malaysians only (Business Asia, 2000,p. 12). And ironically, all these statement are done by those who â€Å"stated an intention to transform Malaysia from a production to a knowledge- based economy† (Business Asia, 2000, p. 12). Employers complain that â€Å"Instead of encouraging the free-thinking innovators needed to help realize such a lofty ambition, the education system seems expressly programmed to eliminate them† (Business Asia,2000, p. 12). All of the above had lead to the core of the issue, the rise of salary. The fear among employers is that a rise in wages will eventually begin â€Å"outstripping productivity gains† (Business Asia,2000, p. 2). Despite the increase of GDP by 3. 7% wages by relative modest grew by 2. 7%. The question is what should stand above, a just increase in wages, which a company can afford, or the increase of the profits at the expense of exploitation of decent workers. As Annil Netto reports at Indian-Malaysian Online â€Å"The Malaysian Trades Union Congress, an umbrella for private sector unions, threatened by nationwide strike if its request for a minimum would be ignored, even so, the Malaysian government gave a cool response †. In March 2000 a national survey by MUTC and International Labor Organization has revealed that some 2 million workers earned less than a poverty- line income of RM600, MTUC demanded at least RM1,200, which we still do not have in 2011. Further, Jones (1997) examines the impact of minimum wage legislation in developing countries with incomplete coverage, using the case of Ghana. Her extensive research has proved that the implementation of the minimum wage was not an efficient policy for reducing the incidence of poverty in a situation where coverage of the minimum wage legislation is partial. The reason is that people working outside of the wage sector e. g. Farmers who survive by selling and consuming their own output are not covered by the minimum wage, and they are the ones who are in need of the minimum wage. Thus, the implementation of the minimum wage becomes non-effective. Her results have shown that the minimum wage in Ghana had a negative impact on employment; there were significant job losses due to the policy. Although the study is based on the case of Ghana, it can be deduced that if Malaysia were to implement the minimum wage, it should cover a large proportion of the population, and not just those working in the public sector, to increase coverage. Ghana and Malaysia are two different countries of different cultures and mentalities, government structure, though communality are the social problems that each faces. But the differences might tell us that policies implemented in one will not necessarily give the same results if applied in the other. The main key point that could be inserted is that the minimum wage should have a large coverage, in our research cleaners and guards. Saget (2001) examines the relationship between the level of minimum wage and employment and between the level of minimum wage and poverty through literature survey and also empirical evidence. The response of employment and poverty to changes in the minimum wage on more than twenty countries was tested in the research, and â€Å"†¦ he data analysis had given strong support to the proposition that the minimum wage may bring positive results in poverty alleviation by improving the living conditions of workers and their families. † (Saget, 2001,p. 31). The literature survey however, had differing opinions, for example some papers mentioned that raising the minimum wage in developing countries may contribute to a widening of the gap between the covered and uncovered sector, similar to Jones (2007), generating relative poverty. Unlike Jones (2007), Saget’s (2001) analysis proved that minimum wage had no negative results on employment whereas Jones had shown that the minimum wage policy had caused significant job losses. This is because Jones’ study was focused on incomplete coverage of the minimum wage while Saget looked into the minimum wage in general, cross country to see the effects it had on poverty and employment. Therefore based on Jones’ study, if Malaysia were to implement the minimum wage, then up till now there would be a reduction in poverty, which is positive and one of the goals of Malaysia in becoming a high income nation by 2020. Jones did not manage to find a significant link between unemployment and the minimum wage thus, this means that a minimum wage would not cause unemployment to increase significantly. However, the results could also mean that countries that implement the minimum wage are more committed to reducing the level of poverty in the country thus leading to results which imply that setting a higher minimum wage would reduce poverty. Lo (2010) in his paper titled ‘The case for a minimum wage in Malaysia† is a highly passionate in support of the minimum wage. It is perhaps due to the fact that the writer is the secretary of the MTUC which is the very same organization that has been pushing for minimum wage legislation in Malaysia for over 12 years now. Malaysian workers suffer from suppressed wages because of the influx of cheap foreign labor, but having a minimum wage according to the Malaysian Employers Federation (MEF) would hurt Malaysian’s competitiveness due to the increase in costs firms will have to incur. However this is countered by Lo (2010), â€Å"If a firm cannot even provide a decent living wage to its workers – one that is enough to meet their basic needs – it has no business being in business†(p. 3). He also suggested that Malaysia can’t always depend on cheap foreign labor forever. Although now it would be expensive to invest in research and development to develop tools that would improve productivity, it would be cheaper in the long run to use these machines. Furthermore, higher wages lead to higher productivity. It would encourage employers to invest in research and development to increase overall productivity and efficiency. Malaysia has not been spending much on research and development, especially private sector, but this would change if there was minimum wage legislation, and more on research and development would give Malaysia a better future. According to this, Malaysia should implement the minimum wage, because of the effects it has in reducing social poverty and also its potential in enhancing economic growth and productivity improvements. â€Å"There is a growing view among economists that the minimum wage offers substantial benefits to low-wage workers without negative effect. Although there are still dissenters, the best recent research has shown that the job loss reported in earlier analyses does not, in fact, occur when the minimum wage is increased† (Fox, 2006, p. 1). Also, over 650 economists, including five Nobel Prize winners and six past presidents of the American Economic Association, recently signed a statement stating that federal and state minimum wage increases â€Å"can significantly improve the lives of low-income workers and their families, without the adverse effects hat critics have claimed† (EPI, 2006). Although the paper focused purely on the evidences from the USA, the effects of minimum wage are still similar if it were to be implemented in Malaysia. However, there could be major differences as Malaysia would be implementing the minimum wage for the first time, while the USA has been doing it for much longer and their case is to do with raising the minimum wage. Malaysia would face lots of opposition in the beginning as t he adjustment process would take time. Card and Krueger (1995) extensively describe the effectiveness of minimum wages of each sector of US population. As stated by CIA World Factbook (2011) US GDP for year 1995 was 2. 51 and 3. 7 for year 2006, and current GDP of Malaysia is 3. 9,hence we can conclude similarities in the phase of economical development. Card and Krueger present us a new body of evidence showing that recent minimum wage increases have not had the negative employment effects predicted by the textbook model. Some of the new evidence points toward a positive effect of minimum wage on employment most show no effect at all. Moreover, a reanalysis of previous minimum wage studies finds little support for the prediction that minimum wages reduce employment, like Richard Lester during the 1940 or Card and Krueger initial work in 1988, California state as a case study. If accepted, the findings will call into question the standard model of the labor market that has dominated economists’ thinking for the past half century. They have showed us the empirical findings which result in later: first of all, a study of employment in the fast- food industry after the increase in New Jersey minimum wage was not affected adversely by law, stating that â€Å"modest increases in the minimum wage have no adverse effect on the employment outcomes of low-wage workers† (Card Krueger, 1995, p. 114) as Lo ( 2010) and Saget (2001) had argued above. The results were gathered from 400 restaurants. Relative to restaurants in Pennsylvania, where the minimum wage remained unchanged, they found that â€Å"employment growth within New Jersey was higher at restaurants† (Card Krueger,1995, p. 46). Second, a cross-state analysis finds that the 1990 and 1991 increases in the federal minimum wage did not affect teenage employment adversely. Thirdly, an increase in the minimum wage leads to a situation in which workers who previously were paid different wages all receive the new minimum wage. Card Krueger(1995) argue that once there is an increase in the minimum wage it would result in a â€Å"ripple effect†, leading to pay raises for workers who previously earned wages above the new minimum. Surprisingly, increases in minimum wage do not appear to be offset by reductions in fringe benefits. Increase of such kinds has decreased the minimum dispersion, partially reversing the trend toward rising wage inequality that has dominated the labor market since the early 1980s. Finally, as a fact minimum wage is a blunt instrument for reducing poverty. It’s â€Å"an amount that is smaller than most other federal antipoverty programs, and that can have only limited effects on the overall income distribution† (Card Krueger,1995, p. 3). They also note, that â€Å"more than 60 percent of all workers have worked for the minimum wage at some time during their careers(Card Krueger,1995, p. ). References Anonymous (2000). No staff, no skills, Business Asia, Vol. 32 Issue 14, p12, 4/5p Card D. , Krueger A. B. ,(1995). Myth and measurement. The new economics of the minimum wage. Fox, L. (2006). Minimum wage trends: Understanding past and contemporary research. Retrieved from http://www. epi. org/publications/entry/bp178/ Jones, P. (1997). The Impact of Minimum Wage Legislat ion in Developing Countries where Coverage is Incomplete. Retrieved from http://www. bepress. com/cgi/viewcontent. cgi? article=1066=csae- redir=1#search=†jones+ghana+wage† Lo, A. 2010). The case for a minimum wage. Retrieved from http://www. mtuc. org. my/andrewminimumwageaug2010. pdf M Bowey,A. , Lupton, T. (1982)Managing Salary and Wage systems,Great Britain: Gower Publishing Company Retrieved from http://www. indianmalaysian. com/minimum_wage. htm Retrieved from https://www. cia. gov/library/publications/ html Saget, C. (2001). Poverty reduction and decent work in developing countries: Do minimum wages help?. International Labour Review, 140. Retrieved from http://www. ingentaconnect. com/content/ilo/ilr/2001/00000140/00000003/art00002 How to cite Minimum Wage in Malaysia, Papers

Social Responsibility of Business-Free-Samples-Myassignmenthelp

Question: The Social Responsibility of Business is to Increase its Profits (Friedman, 1970). Critically discuss this Statement in the Light of Contrasting theories that Emphasize, as Well as examples that Highlight, the Case For Corporate Social Responsibility. Answer: Introduction The main idea of social responsibility in business is to maintain balance between the business plan and social responsibility. It can be said that in most of the occasions the operational strategy of business does not consider about the relationship between the society and environment. The aim of the current report is to critically discuss the statement of Friedman in 1970. The statement was highly controversial in the context that it contradicted most of the theories related with that of the corporate social responsibility of the business. The important elements of the theories related to the corporate social responsibility will be the main discussion point of the current study. Theories of Corporate Social Responsibility The main purpose of the corporate social responsibility in business is to ensure no unethical practice is being implemented in the marketing plan to make excess profit. The competitive environment of today's business world is getting tougher due to aggressive safe strategies implicated by most of the companies. Large scale business organization often implement the power to bring about change in the business environment. The corporate social responsibility is the set of ethical laws that has to be followed by every business organization in order to maintain their social reputation (Carroll 2015). The laws of corporate social responsibility ensure that interest of every group of stakeholders are being protected with implementation of every business policy. One of the major purpose of implementing the elements of corporate social responsibility is to ensure sustainable development in business economy. The elements of Corporate Social Responsibility ensure that the profit that are earned from the business are utilized for the social development and welfare activities. Economic responsibility of the company is to ensure profit that can be evident from the financial growth along with increased value of the companys equity. In the market of modern economy, it is highly essential for every business organization to makes sufficient amount of profit in order to sustain in the tough competitive environment. There is also the component of legal responsibility, where business organizations have to strictly follow the legal rules and policies. These policies are implemented as a part of Business Law, which helps to ensure that there is no illegal or unfair trade practice implemented in any form of business transaction. Business organization can follow the principles of legal responsibility by paying proper business or trade taxes to the local authority. Korschun et al. (2014), have mentioned about the importance of ethical responsibility, where it is important for business organization to ensure that the business activities do not cause any harm to the environment. Implementation of green business ideas that include ecofriendly way of manufacturing products and delivering service are few of the major components of ethical responsibility. The philanthropic responsibility is another major component of corporate social responsibility. In this case it is the duty of an organization to contribute direct fund for social welfare activities. This is also believed to be one of the effective ways to improve the business reputation and brand recognition. One of the major social responsibility of every business organization is to provide proper employment to the society. The large-scale multinational business organizations are few of the biggest recruiters that play an important role in the social developmental work. Peake and Eddleston (2017), has mentioned about the importance of the Triple bottom line theory, which is another major components of the social business responsibility. According to the component of this theory, it is the duty of the corporate leaders to ensure that both economic and social context of business are being considered while implementing operational strategy. In order to maintain sustainability within the business process it is highly essential to consider every terms and condition of business. It is one of the challenging role of the business leader to properly ensure perfect balance between economic and social development in the business environment. This is believed to be one of the intersecting point of Business Ethics. In terms of economic sustainability, it is important to implement plan for long term financial growth (Saeidi et al. 2015). From the elements of triple bottom line, it is the duty of every large scale business organization to properly implement the bu siness plan for financial sustainability. This is believed to be one of the major criteria for success of startup companies. Large scale business companies like Google, apple and Microsoft has been able to introduce better economic policy for long term financial growth. The business leaders of to predict all possible situations of the future market environment and implement the plan according to long-term sustainability. Corporate sustainability in terms of economic development can help in the process of brand recognition. It can also help the company to properly utilize all forms of resources (Becker-Olsen and Guzmn 2017). Social sustainability is also one of the important criteria for implementing the triple bottom line theory. There has been increased in concerned about the global scenario, where rich people are getting richer and poor getting poorer (Grosser et al. 2017). This can increase the risk of society being collapse. The increase in the imbalance can also raise the risk of political violence, thereby compromising up on all forms of social development. Crane et al. (2013),have mentioned about the importance of fair trade movement that is believed implement ethical opportunity for implementing sustainable business strategy. It is also important to note that social sustainability can not only be maintained with the help of financial planning. It also requires understanding the capital market of modern business environment. Implementing policy such as minimum wage for workers at different level within an organization is one of the prime policy of maintaining social growth. Social sustainability also requires full cooperation from all types of citizens. This can help to develop healthy relationship between the people (Gupta et al. 2017). Environmental sustainability is the final component of the triple bottom line theory. This help to ensure that all forms of natural resources that are used by business organization do not face with any form of wastages. Recycling of materials can be one of the effective ways to maintain the protocol of environmental sustainability (Shang et al. 2014). This is believed to be one of the effective way to minimize the chance of resource wastage. Proper eco-friendly techniques also can be implemented in order to ensure minimum amount of greenhouse gas are being emitted from manufacturing units of the industries. Critical Analysis of the Friedmans Statement From the statement of Friedman, it is clear that the author wants to focus only upon the financial growth and sustainability of a business organization. The primary intention of all business entrepreneurs while initiating any startup companies to maximize the level of profit in terms of financial development. The statement provided by Friedman also focuses upon increasing the profit margin. This has been one of the major controversial topic mainly due to the fact that the statement is only concerned about one principle of Corporate Social Responsibility that has been mentioned in the above section. This statement also debunked the notion of all forms of social welfare activities that are usually associated with corporate social responsibility. During the time the author meant this statement, there was an increase in concerned about the social inequalities that was raising within the global economy (Di Benedetto 2017). Statement of the author also highlighted up on the fact that free market which was getting popular during the period of 1970s is one of the easiest way to maintain Social Responsibility in business. This is mainly due to the fact that free market enjoys the opportunity to make maximum amount of profit without any form of political or economic restrictions. It is also possible for the business owners to recruit more number of people within the company and thereby deal with the issue of unemployment. The author also believed about the fact that with increased amount of business profit it is possible for businessmen to make significant donation in social welfare activities. There is also one form of belief that the statement of Friedman is one of the best way to maintain principles of socialism. It will there be prevent the market to determine the exact pricing strategy that will be implemented for each product. Hybrid concept of capitalism and socialism can thereby help in improving the popularity of free market and thereby promoting the economy of the nation (Yin 2017). The increase in the trends of private competitive Enterprise, there is increasing risk of negligence about the elements of corporate social responsibility. Statement made by Friedman will help to force upon most of the important matters related to that of the free market economy. This will help to ensure that most of the business organization are able to expand with better level of Corporate strategies. According to the statement it may not be possible for a business organization to focus upon all major elements of corporate social responsibility and also the related theories associated with the same. If a business organization is solely focused upon making high level of business profit, it may not be possible for them focus upon the policies of economic and social sustainability that is believed to be an essential part of corporate social responsibility. It will also not be possible for the business organization to manage all forms of risks that are involved within the external business environment. With aggressive form of competitive strategies that are implemented by most of the multinational corporations, it may not be possible for them to consider about the facts social inequalities that are developing in the modern age. It may not be possible for the business organization to properly follow the ethical rules implemented by the local authority (Lee and Riffe 2017). There has been several reported case of large-scale multinational companies terminating huge number of employees in order to improve upon their profit margin and compensate for high level of loss. In many cases, when a large scale multinational corporation acquire some other company, there is high level of chance that most of the business organizations may implement change in the organizational structure. This type of situation increases the risk of promising on social responsibility and ethical rules followed by the organization (Di Giuli and Kostovetsky 2014). There is also the chance that a foreign company can cause serious damage to the local environment while installing any form of manufacturing units. As the business is mainly focused up on increasing the financial condition, it may not be possible for the company to deal with matters related to decreasing the greenhouse emissions gas from the manufacturing unit. Conclusion: In the conclusion note it can be said that the statement made by Friedman in 1970 about the fact that social responsibility of business is mainly to increase profit is highly controversial in the context of modern age. As mentioned within the principles of corporate social responsibility, it is highly essential for all business organization to ensure both economic and social development. The popularity of free market economy has been a major boost for private organization as they are able to expand their business. However, in the context of improving upon financial condition in many occasions it has been seen that business organization ignore about the fact related to social sustainability within the external business environment. In the context of the modern age this can be highly challenging due to the fact that without proper ethical rules and regulation there is high risk of compromising of business reputation. It is also important to mention about the fact that most of the large scale business organization of the modern age involves in various type of social welfare activity, which is believed to help in the business reputation. Few of the major examples of involving in social welfare activities can be given from the context of Microsoft Corporation. The social welfare organization initiated from the management of Microsoft Help in eradication of various form of diseases. It can therefore be concluded that the statement made by Friedman in 1970 is not applicable in the context of modern day has most of the principles of corporate social responsibility are being ignored. References: Becker-Olsen, K. and Guzmn, F., 2017. Corporate Social Responsibility Communication in North America: The Past, Present and Future. In Handbook of Integrated CSR Communication (pp. 293-315). Springer International Publishing. Carroll, A.B., 2015. Corporate social responsibility. Organizational dynamics, 44(2), pp.87-96. Crane, A., Matten, D. and Spence, L.J., 2013. Corporate social responsibility in a global context. Di Benedetto, C.A., 2017. Corporate social responsibility as an emerging business model in fashion marketing. Journal of Global Fashion Marketing, pp.1-15. Di Giuli, A. and Kostovetsky, L., 2014. Are red or blue companies more likely to go green? Politics and corporate social responsibility. Journal of Financial Economics, 111(1), pp.158-180. Grosser, K., Moon, J. and Nelson, J.A., 2017. Guest Editors Introduction: Gender, Business Ethics, and Corporate Social Responsibility: Assessing and Refocusing a Conversation. Business Ethics Quarterly, 27(4), pp.541-567. Gupta, A., Briscoe, F. and Hambrick, D.C., 2017. Red, blue, and purple firms: Organizational political ideology and corporate social responsibility. Strategic Management Journal, 38(5), pp.1018-1040. Korschun, D., Bhattacharya, C.B. and Swain, S.D., 2014. Corporate social responsibility, customer orientation, and the job performance of frontline employees. Journal of Marketing, 78(3), pp.20-37. Lee, T.H. and Riffe, D., 2017. Business News Framing of Corporate Social Responsibility in the United States and the United Kingdom: Insights From the Implicit and Explicit CSR Framework. Business Society, p.0007650317696314. Peake, W.O. and Eddleston, K., 2017. Conditioned to care? Gender differences in entrepreneurial social responsibility United States Association for Small Business and Entrepreneurship. Conference Proceedings (p. 932). United States Association for Small Business and Entrepreneurship. Saeidi, S.P., Sofian, S., Saeidi, P., Saeidi, S.P. and Saaeidi, S.A., 2015. How does corporate social responsibility contribute to firm financial performance? The mediating role of competitive advantage, reputation, and customer satisfaction. Journal of Business Research, 68(2), pp.341-350. Shang, K.C., Lu, C.S., Lin, J.R., Chang, C.C. and Yu, K.D., 2014, August. The Link between Corporate Social Responsibility, Corporate Reputation, and Organisational Performance: Evidence from the Liner Shipping Industry. In International Forum on Shipping, Ports and Airports (IFSPA) 2014: Sustainable Development in Shipping and Transport Logistics. Yin, J., 2017. Institutional drivers for corporate social responsibility in an emerging economy: A mixed-method study of Chinese business executives. Business Society, 56(5), pp.672-704.