Significance of Financial Reporting - 1702 Words

 ¡Ã‚ ¥Significance of Financial Reporting ¡Ã‚ ¦ -An Essay Student No. : S00042472 Student Name : Janak Patel The Collapse of the Corporate Giants like Enron and WorldCom have raised the imminent question, which always remains in the back of an investor ¡Ã‚ ¦s mind,  ¡Ã‚ §Can I trust my hard earned Capital in somebody else ¡Ã‚ ¦s hand ? ¡Ã‚ ¨ This is not the first time that investors have lost their trust in companies however the fact does not change that the cost of capital from the market has increased significantly for the companies. Investors have started to invest their capital in risk free securities rather than in company stocks. Investors have also started to look with contempt and doubt at a company ¡Ã‚ ¦s financial reports because some of†¦show more content†¦Furthermore the fundamental principle of financial reporting is that the view presented by the reports should be true and fair. And further principles suggest that board of directors should aim for the highest level of disclosure of the facts which are understandable by avoiding da mage to their competitive position. They should also aim to ensure the integrity and consistency of their reports and they should also meet the letter of the reporting standards such as GAAP. Here the Investors should seek disclosure and simplicity. The more companies say about where they are making money and how they are spending their resources, the more confident investors can be about the companies fundamentals. It s even better when financial reports provide a line-of-sight view into the company s growth drivers. Transparency makes analysis easier and thus lowers an investor s risk when investing in stocks. That way you, the investor, are less likely to face unpleasant surprises. As per the views of George Bennet Stewart III of Stern Stewart Co. the current Accounting Practices are of no use in determining a company ¡Ã‚ ¦s current position. In the United States of America, President George Bush has created a new oversight board to regulated accounting standards. But according to Bennet these reforms just solves some of the problems but they do not provide a full fledge solution. Here the main problem is not with companies like Enron and World Com whoShow MoreRelatedThe Australia Holdings Pty Ltd Essay848 Words   |  4 Pagesto whether or not News Australia Holdings Pty Ltd, is indeed a non-reporting entity, direct attention must be drawn to SAC1, â€Å"Definition of the Reporting Entity†, as issued by the Australian Accounting Standards Board. SAC1, defines a reporting entity, as an economic entity, in which it is expected that a substantiated group of users, rely on an entity’s general purpose financial reports. Such reliance on general purpose financial reports, as defined in SAC1, paragraphs 12 15, are deemed importantRead MoreSegment Reporting And Information Disclosure1380 Words   |  6 PagesIntroduction Segment reporting is the disaggregation of a reporting entity’s financial reports into segments. This paper investigates whether segment reporting is worthwhile and whether the requirements of the new segment-reporting standard (IFRS 8) have had an impact on the way companies disclose segment information. Significance of Segment Reporting Segment reporting is integral to the process of investment analysis and there is a common agreement among financial analysts that such informationRead MorePopulation Analysis843 Words   |  4 Pagesdesign to highlighting on studying a condition or a problem in order to describe the relationships between Working capital management and financial performance, Investment decision, and financial performance, financial decision, and financial performance, accounting information system and financial performance and accounting reporting analysis and financial performance. This study is uses the descriptive and inferential statistical methods will use to analyze the data. Multivariate regression ModelRead MoreThe International Integrated Reporting Council Essay1613 Words   |  7 PagesIntroduction This essay has been requested by the one of the Big 4 accounting firms in New Zealand, in which they include Deloitte, Price Waterhouse Coopers, KPMG and Ernst and Young to prepare a contextual essay in relation to Integrated Reporting (). In this document, it will pay specific attention to explaining what is , it’s emergence and deliver a reasonable judgment as to whether it should develop the new form of regulated accounting practice in New Zealand within the next 5 years for KPMGRead MoreThe Adoption Of International Financial Reporting Standards1271 Words   |  6 Pagesadoption of International Financial Reporting Standards [IFRSs] around the world has motivated empirical research that examines the effects it has on the accounting information. There is a visible contrast in these studies due to the use of various elements such as difference of researched countries, analysis periods, distinctive research design and reporting heterogeneous findings. Besides, there is also limited evidence of how the mandatory IFRS adoption affected the financial statements. Hence, thisRead MoreThe International Accounting Standards Board Essay920 Words   |  4 PagesBoard (IASB) issues The International Financial Reporting Standards (IFRS) on U.S securities and exchange companies listed. So, the benefit behind the conceptual framework is increasing users’ understanding of financial reporting. Second, IASB cannot be alone without the implementation of IFRS. Also, IASB made it easy for companies to compare financial statements due to the procedural of IASB. However, it will enable auditors to quickly resolve financial reporting problems by referring to an existingRead MoreIntroduction. Financial Accounting Standards Board Has1013 Words   |  5 PagesIntroduction Financial Accounting Standards Board has defined the conceptual framework as – ‘A coherent system of interrelated objectives and fundamentals that is expected to lead to consistent standards and that prescribes the nature, function and limits of financial accounting and reporting.’ The conceptual framework describes the objective of, and the concepts for, general purpose financial reporting. It is a tool that – 1. Assists the FASB to develop and create new International Financial ReportingRead MoreInternal Control Audit Standards1079 Words   |  5 Pagesis to document the basis for the conclusion and also the effectiveness of the patterns and the operations regarding the internal control level procedures that support that assessed level. Reports On Internal Control Over Financial Reporting a. A material weakness in the processing of sales transaction has been identified by the auditors. In this case, the auditor should express an unqualified opinion, which does not indicate that there exist other material weaknesses. ThisRead MoreQuestions On Financial Reporting And Its Importance For Property, Plant And Equipment ( Ppe ) Asset1083 Words   |  5 Pagessummary Recently, awareness on the importance for Property, Plant and equipment (PPE) asset for our reporting entity has been increasing continuously. This report will introduce background of BHP Billiton Ltd. and the growing significance of PPE assets. This report will also discuss the objective of general purpose financial reporting and the fundamental qualitative characteristics of useful financial information. Moreover, we will analyse whether disclosures on BHP Billiton Ltd.’s PPE asset from 2014Read MoreComprehensive Annual Financial Report Briefing1032 Words   |  5 PagesComprehensive Annual Financial Report Briefing Abstract The City of Detroit, founded in 1701, and incorporated in 1806, is in Wayne County, State of Michigan. Detroit is on an international waterway, which connects by means of the St. Lawrence Seaway to seaports around the world. Existing as the largest city in the State of Michigan, Detroit is notorious for its tradition in automotive and is a colloquialism for the automobile industry in the United States. Detroit is also known for its popular

Stop Shark Finning! Essay - 828 Words

Commodity is defined as buying and selling raw or agriculture products such as coffee, gold and aluminum. There are two types of commodity soft commodity and hard commodity. Soft commodities are agriculture items such as rice, rubber, and wool while hard commodities are raw materials such as gold, oil, aluminum. Also some commodities are needed and others are wanted and an example of needed commodities is water, food and wanted commodities are like shark fins. Shark finning must be bended; it’s only wanted as a commodity, most people don’t need it for that much to live. Every year, we hear about sharks killing 10 to 15 people but not only shark attack and kill humans, human kills millions of sharks per year for their fins (Mislinski,†¦show more content†¦For example, they would only cut the fins because it is very expansive and it is worth 100 dollar a bowl in Chinese culture and then they would throw shark’s leftovers back in the ocean where they do not die peacefully and also they are unable to swim, properly and bleeding profusely, they suffocate or die of blood loss and the reason that they think it is priceless and shark takes space in the boat, but they do not know that shark’s blood can affect other species and the ocean. The decrease of sharks has an effect over specific species where this can influence the rest of the ecosystem, the huge loss of sharks can allow top predators decline in an ecosystem populations to bloom, which can have negative affects on lower level prey species. The decline of the sharks affected their prey, rise in numbers and expand into areas that were previously too risky to scavenger. The rays destroyed the scallop populations in the area and made them combined with ongoing fishing pressure, they may not be able to recover perhaps permanently changes can change the ecosystem and the several affect on local livelihoods. Every product has a negative affect on human. Shark fins has a huge affect on humans especially the brain. The process of shark fin trade is to cut of the fin and it is required to be frozen or dried. Most people complained that shark fin soup is tastelessShow MoreRelatedEssay on Stop Shark-Finning1029 Words   |  5 Pagescalled shark-finning. Even the people who are aware of the harmful effects they bring still continue on doing it. People are afraid of sharks due to their fierce appearance and the bad publicity they get such as the movies wherein sharks attack humans. Only about 5 people are killed by sharks every year. In fact, vending machines has a higher death rate of 13, while ants can kill about 30 people annually. Sharks are very beneficial to us, why do people keep on harming them? Why is shark-finning so importantRead MoreShark Finning Should Stop The Sharks1754 Words   |  8 PagesShark finning should stop. Shark poaching or finning has been going on for a while to m ake a dish called â€Å"shark fin soup†. People who eat that most likely don’t know what happens to make it. Poachers catch the sharks, and put them on their boats and hold them down while they cut all of their fins off. The worst part is once they’re done, they drop them back into the water and make them suffer as they lose tons of blood, and later suffocate or be eaten by other animals. It makes me feel sorry forRead MoreSharks are Being Hunted to Extinction Essay595 Words   |  3 PagesAccording to Animal Planet, sharks, on average, kill ten humans per year, while humans kill eighty-eight to one hundred million sharks per year. Humans hunt sharks for their meat, internal organs, skin, and primarily for their fins in order to make products such as lubricants, make-up, and mainly shark fin soup. The growing Chinese economy has cause an increase in the demand for shark fin soup. Some species of sharks have reduced over 90% in population for a bowl of soup that has no scientificallyRead MoreThe Ethics Of Shark Finning Should Be Stopped3085 Words   |  13 Pagesare less acknowledged because we know less about the ocean then we do about the earth. Shark finning is the practice of cutting off fins of live sharks and then throwing the sharks back into the water, to soon die. This treatment that is done to sharks is so inhumane because it is treating the animals in an unnatural way and allows humans to determine that our lives are more important than theirs. Also, the shark is an apex predator, which means that if their population continues to decrease becauseRead MoreSpeech Outline on Shark Finning Essay725 Words   |  3 Pageson average, 10 people are killed by sharks, yet every second 3 sharks are killed by humans. II. Thesis: Sharks are a vital part of our ecosystem, and killing them disrupts the delicate balance of the ocean. III. Credibility statement: For most of my life I have been a shark enthusiast so shark finning is an issue I stay very informed on through various academic sources. IV. Purpose statement: I am going to explain to you today why we need to keep sharks in the ocean and out of the soup. Read MoreEssay On Fin For Thought1325 Words   |  6 Pagesburst outside and are immediately met with another blow to the face. You fall to the floor hitting your head again, this time you know you can’t get up. Your eyes fixate on your family across the yard, screaming and crying and pleading to the men to stop. They call to you for help but you’re unable to move. All you can do is anticipate the sheer horror these men are about to inflict on your loved ones. â€Å"Why?!!!† you cry. One by one, and limb by limb, these men butcher and dismember their bodies whileRead MoreThe Shark : The Predator Of The Sea1607 Words   |  7 Pages350 million years ago, the shark species has been labeled as the apex predator of the sea. With the increase in human population the demand for shark meat and fins are at an all time high therefore, the existence of the shark is becoming a concern. Individuals are observing to think of sharks as a negative feature to the environment, which is prolonging the effect to prevent shark species from becoming extinct. With that in mind, not only are human over-fishing sharks, but also the CO2 emission intoRead MoreShark Finning Is Killing Sharks1950 Words   |  8 Pages Are you scared of sharks? Well, there is approximately 5 human deaths, shark related each year, but over 100 million sharks are killed each year by humans. Who should really be scared? Shark finning is killing sharks and decreasing their populations to a level where they may never fully recover. Causes for this are fishermen shark finning at a very high rate and for consumers being oblivious to the situation or what had to be done for them to eat the shark fin soup. Sharks are being harmed byRead MoreSharks Is Not An Easy Task1685 Words   |  7 Pagesof Jaws, the fear of sharks has increased rapidly. Because of this fear, the amount of sharks being killed per year has greatly increased. Since 1975, the U.S shark catch has risen from 148 tons to over 8,765 tons. More than one hundred million sharks are killed per year. Sharks attack about nineteen times per year and only kill about one person every two years (Preston, 1995). Saving the sharks is not an easy task. Unlike dolphins and turtles, who are also endangered, sharks are not cuddly cute creaturesRead MoreShark Fin Soup : A Significant Part Of The Tradition Of Chinese Food Culture1320 Words   |  6 PagesIntroduction Shark fin soup is a significant part of the tradition of Chinese food culture. Shark fin has been considered as a precious delicacy since the Han Dynasty over 2200 years ago (Spiegel 2001:411). Cheung and Chang (2011:345) explains that shark fin is the symbol of wealth, good fortune, people’s taste and social status in China. â€Å"The consumption of luxury seafood in contemporary China is intertwined with broader historical trends† (Fabinyi 2012:83). Shark fin apparently has become a much

The Caste System and Hinduism in India Free Essay Example, 1500 words

The top of the list in the caste system is the Brahmans. They are considered as the elite group and they have the power to call the shorts in terms of the social standing, social decisions and other major events and components within the society. The Brahmans earn it based on the supremacy of the family. They do not participate in the practical actions taken, they rate only administer and command the authority and decisions with regard to the social standing and social structural working. The next in line in the Hindus caste system is that of Vaishyas. According to the Hindu concepts of the religious doctrine, the four castes are created based on the derivation from the different parts of single sole in the form of the four castes with the Shudras making up for the feet, and the artisan class making up for the people of trade and other associated services rendering to the people within the community and society (Santoso, p 19). The Rig Veda explains the exact status of the society a nd the caste systems within. The last in the line of caste system includes the Shudras, the Shudras are assigned the task of fulfilling the actions with regard to cleaning and other affiliated works. We will write a custom essay sample on The Caste System and Hinduism in India or any topic specifically for you Only $17.96 $11.86/pageorder now Based on the works and tasks they perform they are called the untouchables. According to the Hindu religious believe, the individuals who are associated with the Shudras caste are treated as ones based on their past precedence in the previous life. They will get a chance to go up the ladder in the next life if they behave well and act according to the teachings which come in the form of humanity and spreading peace and humanity among the fellow beings. Treating and serving the other castes and the individuals from the society within, will also serve as the people’s duty fulfillment in the Shudras caste system. The untouchables often create issues with regard to the outer world and its response. Since the untouchables are deemed as untouchable and have little access to the resources and other basic components of the societal structure, it is therefore debated with regard to the Hindu caste system its merits and possible demerits. Impact on soc iety: The Indian society has had a major influence over its individuals with regard to their existence in the global community. The society’s outlook in the form of social mobility and social stagnation that we see in Indian society is largely due to the caste system in the country. The last two to three centuries saw the least mobility and reduced urbanization rates.

Macbeth by William Shakespeare - 1293 Words

The play, â€Å"Macbeth† is one of William Shakespeare’s tragic plays written approximately in 1606. The play centres on Macbeth who is a general in King Duncan’s army. Upon returning from a successful battle, Macbeth is confronted by three witches who claim they know the future. The three witches tell Macbeth that he will be the future King. The events that occur after this encounter between Macbeth and the witches are what makes this play a tragedy. This essay will focus on the treatment of gender in â€Å"Macbeth† through focusing on the character of Lady Macbeth. It will do so by discussing three predominant themes: female dominance, gender in a general sense and role reversals. In the play, female dominance is seen through the character of Lady Macbeth; gender is highlighted through all characters, however, to help the stance of this essay it will be discussed with reference to Lady Macbeth; and role reversals are seen through the characters of Macbet h and Lady Macbeth. Macbeth must kill King Duncan so that he can be King. Macbeth feels pressured and afraid of the deed that he must commit as he considers the consequences of murdering King Duncan, â€Å"†¦But in these cases / We still have judgement here† (1.7.7-8). Lady Macbeth feeds mortal thoughts of killing to Macbeth (Favila 1) and overpowers him by challenging his manhood. This eventually leads him to commit the act of murder. Macbeth conflict with what is right and wrong and mortal thoughts definitely do haunt him, but it isShow MoreRelatedMacbeth by William Shakespeare770 Words   |  3 PagesThe play Macbeth is written by William Shakespeare. It is believed to be written between 1603 and 1607 and set in eleventh century Scotland. It is also believed to be first performed in 1606. It is considered to be one of the darkest and most powerful tragedies. Macbeth, set in Scotland, dramatizes the psychological and political effects produced when evil is chosen to fulfill the ambition o f power. The Tragedy of Macbeth is Shakespeare’s shortest tragedy and tells the story of Macbeth, a ScottishRead MoreMacbeth, By William Shakespeare1425 Words   |  6 PagesMacbeth Just Can’t Wait To Be King Everyone has a quality that they do not like about themselves. Some people struggle to be social, others may be too controlling of people. The list goes on and on, but the point is that everybody has a particular quality that they must learn to control or else that particular quality can get out of hand. Of course, one could write a list of characters that have major flaws. There is no better example than William Shakespeare’s character, Macbeth, in The TragedyRead MoreMacbeth, By William Shakespeare1409 Words   |  6 Pages â€Å"Fair is foul, and foul is fair: Hover through the fog and filthy air.† On October 17th, I had the pleasure of going to see Macbeth performed at the Shakespeare Tavern. Along with its reputation for being â€Å"cursed,† Macbeth is also known as one of the crown jewels of William Shakespeare’s repertoire. In my opinion, the central concept of this particular retelling of the play was the murkiness of character. Throughout the pla y, the many characters go through fierce temptation and strife, and noneRead MoreMacbeth, By William Shakespeare1203 Words   |  5 PagesMacbeth is a play based on King James I, it was written by William Shakespeare, however this play isn’t a king and queen fairy tale, but it’s a play about greed and guilt, chaos and murder and three evil witches who use prophecies to influence Macbeth to do bad things, using flattery would instigate his inner ambition to become king, which in the end doesn’t lead to a very happy ending. Shakespeare’s, Macbeth, was written in the early Jacobean period. During those times, women had no power, theyRead MoreMacbeth, By William Shakespeare1243 Words   |  5 PagesIn William Shakespeare’s â€Å"Macbeth†, the author portrays the main character Macbeth as a very tortured and flawed individual whose actions only serve to further unravel him. He is conflicted and power hungry, which drives him to perform evil murders and become a ruthless person. Macbeth’s moral compass is not resilient enough to withstand his wife’s manipulations and he is provoked to act on his malicious thoughts of murder. The author explores the terrible effects that ambition and guilt can haveRead MoreMacbeth, By William Shakespeare Essay1487 Words   |  6 Pagesreaction†. Macbeth by William Shakespeare is a tale which illuminates the consequences of violating the â€Å"Natural order†, the hierarchy of beings in the universe. When Macbeth, a warrior wel l-known for his courage and bravery, murders King Duncan acting on his unchecked ambition to claim the throne, the order was disrupted, the result†¦chaos. Shakespeare uses symbolism to illustrate the atmosphere of the play as the natural order is flung into a state of turmoil. These techniques used by Shakespeare is usedRead MoreMacbeth, By William Shakespeare1483 Words   |  6 Pagesdifferent references in the play of how a king deals with power and if they use it for better or for their own personal gain. In the play Macbeth, by William Shakespeare, Macbeth’s obsession with his journey to power leads to his failure. This obsession is demonstrated through the prophecies, the murder of his best friend Banquo, and his own demise. Macbeth demonstrates that he is incapable of mastering the power and responsibilities of being a king. This is indicated throughout the play with theRead MoreMacbeth, By William Shakespeare1045 Words   |  5 PagesBlood appears in only two forms, but many times in Macbeth by William Shakespeare; between the war scene at the beginning of the play and the lifting of Macbeth’s severed being lifted by Macduff at the end. It can be said that Macbeth could have been written in blood that there is such a large amount. What is unique about blood in Macbeth is that the â€Å"imaginary blood† or the guilt that the murderer feels plays more of a role of understand and amplifying the theme of the play, that blood is guiltRead MoreMacbeth, By William Shakespeare1431 Words   |  6 Pages Macbeth, though originally a valiant and prudent soldier, deteriorates into an unwise king whose rash decisions conclusively end in the atrophy of his title, power, and position. Several facto rs contribute to the downfall of Macbeth, which produce a contagion effect and ultimately end with his demise. He receives help from his â€Å"inner ambitions and external urgings† which result in his downfall (Bernad 49). The â€Å"external urgings† consist of the weird sisters who disclose his prophecies, which enlightenRead MoreMacbeth, By William Shakespeare1320 Words   |  6 PagesThe oxford dictionary definition of guilt, 1, the fact of having committed a specified or implied offence or crime, 1.1, a feeling of having committed wrong or failed in obligation. In Macbeth written by William Shakespeare, Macbeth, the titular character and his wife Lady Macbeth kill the King in order to become King and Queen themselves, this came with consequences which are still relevant in society today. The guilt they felt and the relevance to sleeplessness are common topics almost four hundred

Like Riding a Bike Free Essays

The saying â€Å"it is just like riding a bike† is very commonly used to describe a skill that virtually everyone masters and usually at an early age.   It also means that once the skill is mastered it is never forgotten.   For me, however, this skill was not easy and I still would not consider it mastered. We will write a custom essay sample on Like Riding a Bike or any similar topic only for you Order Now    The difficulties I had in learning how to ride a bicycle not only haunted much of my childhood, but carried over into learning how to drive a car.   The challenging experience began when I was five years old. My mom bought me a new bicycle with the intention of teaching me how to ride it, I learned to ride at age ten and at sixteen was reminded of the difficulties when it was time for me to get my driver’s license.   My struggle was not due to a lack of coordination or ability, because I have been very active in varying sports beginning with football at the age of four.   I excelled at baseball, lacrosse, basketball, roller hockey, and football, but feared the bicycle. I loved the brand new bicycle Mom bought for me and was anxious to learn to ride.   When I actually got on the bike however, I did not feel like I was in control.   As a person who needs to feel in control of situations, I was not comfortable.   Mom said I would gain control as I became better and learned to balance.   I tried to learn and she tried to teach for years.   These attempts usually ended in a screaming match between us and never seemed to get me any closer to mastering the art of bike riding.   I was embarrassed to be the only person my age who did not know how to ride a bicycle, but the fear of injury and lack of control always won out over the embarrassment. By the age of ten, Mom had given up trying to teach me, because we were both tired of it.   I had outgrown the bicycle Mom had bought me without ever riding it.   Through the many battles over it and failed trials, though, it looked like it had been through a war.   I had three younger siblings by this time and all of them had learned to ride bicycles with no more than the usual struggles of learning.   When my four-year-old brother, Dominic, mastered the skill, I knew it was time I overcame my fear and learned.   Somehow, I took strength and courage from my little brother and managed to keep a bicycle in the upright position long enough to say I could ride a bike.   I continue to struggle with the balance and would not say the skill is something I ever mastered, but at least I got over feeling like a failure. When it came time for me to learn to drive a car, the fear of not being in control returned.   I put off getting my permit in attempt to make excuses for not getting my license.   Everyone else my age seemed very excited to have the opportunity to drive, but I found ways to avoid it. I used the same courage I had gained with the bicycle to tackle my fear of driving and met the challenge.   I did not want to be the only teenager around that could not drive a car. At age sixteen I did get my license and have become a good driver.   It did not require balance as the bicycle did and control was easier to gain. Although the fear of not being in control has played a part throughout my life to this point, I have not let it take over my life.   With courage and determination, I have overcome the difficult challenges in my life and plan to take on any new challenges that come along with the same determination.   When people are faced with challenging situations, they have two choices. They can either give up and accept defeat or they can face their fears and the challenge and triumphantly overcome them.   Now when I hear the phrase â€Å"it’s like riding a bike† I know the task might not be easy, but it can be accomplished and once it is learned it will never be forgotten.   It is very easy for young children to be permanently affected by childhood experiences and although I laugh about it now, it did play a role in my learning to drive a car. How to cite Like Riding a Bike, Essay examples

Sale Force Management Innovation Technology -Myassignmenthelp.Com

Question: Discuss About The Sale Force Management Innovation Technology? Answer: Introduction The main aim of the task is to explain and analyze the macro environment of Malaysia. It will help in building and developing a good image in the minds of customers. Maxis Telecommunication Company has been selected. Maxis Company is one of the largest telecommunication companies in the world which provides various mobile phone services to customers across the world. It provides telecommunication services to business enterprises and individual. They are the major customers of the organization. The macro environment of the country affects the profitability of the organization. Malaysia is a developing country and the economy is average. It impacts the operations and the profitability of the organization. There are also certain other factors such as the political environment and the technical infrastructure, which impacts the operations of the organization. The paper explains how the firms identify and evaluates the macro environment factors to overcome the rivalries in the market. At the end, some recommendations have been given to reduce the negative impact of external environment. Maxis Berhad is a communications service provider in Malaysia. The company provides a wide range of communication products; value added services and applications for consumers, large enterprises and small and medium business owners. The firm was incorporated in 1993 with it is headquarter is located in Kuala Lumpur, Malaysia. The company employs more than 2901 employees in the organization. It is leading service provider in Malaysia. The customers of the company enjoy a superior internet experience (Maxis, 2017). Beyond connecting people, the firm passionate about making a positive impact on the society in which the organization operates and manages its business activities. Currently, Maxis is a holding company and it renders telecommunication, mobile services and fixed line services in Malaysia. The mission of the firm is become a premier integrated communications service provider in mission and the vision of the organization is to make a bright future of consumers by providing effe ctive and attractive communication services. The core values include positivity, passionate, collaborative and cooperation(Maxis, 2017). The main aim of the firm is to maximize and increase profitability and revenue in the competitive market. On 19 November 2009, the organization was listed on Bursa Malaysia. The firm wants that customers feel free to connect and communicate with other people. They will feel enabled by the services of the company, not inhibited. The management team of Maxis is unique and dynamic. Morten Lundal is the chief executive officer and Nasution bin Mohamed is chief financial officer of the organization. The company believes that the consumers should be given extreme priority and it provides extreme importance for their convenience and satisfaction. All the employees are given training so that they can provide maximum satisfaction to the employees. Maxis Companyis trying to explore and flourish digital learning in the competitive market. In the present, all the operations of the organization require IT infrastructure and digital operations. Therefore, the company provides competitive training to the employees. Along with it, the digital medium also increases efficiency and speed of the operations. The companys carbon footprint has remained relatively stable due to energy efficiency measures. In 2015, the firm maintained total network energy usage at 289 GWH and same maintained in 2014. The organization also follows local rules, legislations and guidelines set by the Malaysian communications and multimedia commission. The primary aim of Maxis is to maintain and set a sensible and unique standard of safety, health and to ensure the well being of companys employees who may be affected by the activities and operations of the firm. Furthermore, the company is trying to minimize the losses to the business from injury and ill health. In addition, Maxis is dedicated to render the best possible security by safeguarding and securing assets and employees in the workplace. Macro environment analysis The macro environment affects each and every business. Macro environment refers to the external environment of the company. These factors are beyond the control of marketers however they still may affect decision making process. The firm needs to focus on external environment factors so that it can maintain competitive position in the global market.The external environment may influence the entire economy of the country (Van Wormer Besthorn, 2017). The macro environment includes several factors such as political, economic, socio-cultural, technology and environment factors. Pestle (Political, economic, social, legal and environmental) analysis is done by the firm to analyze and identify the challenges and opportunities in the international market. The elements of macroenvironment have been stated below. Political factors: The political factors may be associated to the government. They comprise tax policies, health and safety laws, legislative bills and government stability. The political factors may affect the individual as well as organization in a society. The company should understand these factors on an international level and ensure their business aligns to laws, policies, rules and regulations (Gilpin, 2016). There are several strict laws which are applicable to the telecommunication industry, such as bandwidth use, tariff rates and privacy laws. It is important that the organization follows these laws to avoid strict actions from the government. Economic factors: These factors are related to inflation, taxes, recession and unemployment. Effective planning must be done by the firm to analyze and measure the economic factors. Economic factors may influence the success and growth of the company adversely. The economic factors are those external economic factors that affect the consumer buying behavior and capacity. It also includes economic resources, level of income, trade cycles and distribution of income and wealth. Apart from this, it includes import duty, VAT, unemployment rate, interest rate and sales tax (Nelson, 2015). The telecommunication industry is affected by the economic status of the country. If there is economic recession, the consumers will not use the services, which will negatively impact on the profits of company. Social factors: These factors also influence trading activities and operations of the organization. The social factors include ethnic background, culture, values, social status, demographic location, new trends, lifestyle and needs of people. Social components play a vital role to determine needs, requirements and lifestyle of people in the world. The socio-cultural factors also include preferences, desires and behavior of people to attract and increase more and more consumers globally. Many socio-cultural blunders occur due to the failure of the businesses in the foreign market. Furthermore, the employees are not able to understand and analyze the culture and trends of the foreign market. As a result, it influences the growth rate of the firm adversely. The social-cultural factors play a significant role in every company to determine the lifestyles, requirements and wants of people in the competitive market (Salvendy, 2012). In the present, there is excessive competition in the tele communication industry,it is the Technological factors: Technology not only used to deliver and develop products to consumers. But also technology used to conduct business activities effectively and efficiently. None of the company can survive its business without effective and dynamic technology. Therefore, the organization needs to focus on the technology development in the organization. The organization who is fastest with the best and unique technology can easily overcome the competitors in any market. Thus, the firm needs to keep an eye on the advanced technology to stay in the competitive market (Johnston Marshall, 2016). Legal factors: These factors have direct impacted on the progress of the firm. Before starting a new business, the organization needs to measure and identify the legal factors. These elements also influence decision making process of the firm (Yin, 2013). The legal factors encompass rules, regulations, laws and legislations that can positively or negatively affect the result and outcomes of market actions. Environment factors: These factors can direct impact on the organizations productivity and consumer decision making process.The firm also keeps an eye on the environment factors to gain competitive advantages in the international market. The natural environment includes the natural resources that are needed as inputs by marketers or they are influenced by marketing activities and operations. Environment is a major concern for each and every organization to start a new business operation in the foreign market. Thus, the firm needs to focus and analyze the several trends in the natural environment (Li Heap, 2011). How these elements affect Maxis Maxis is the biggest player in the telecommunication industry. Thus, various macro environment factors affect the growth and success of the firm positively as well as negatively. The company cannot maintain direct control on these external factors. The external macro environment factors which could affect Maxis performance and business have been below. Political factors: These factors play a significant role in macro environment and political factors directly affect growth of Maxis. The political factors include international trade agreements, low trade restrictions, and political stability. Legislation issues come up constantly.Government is one of the effective sources to know that how telecoms must be managed and handled and people have another option (Xu, 2005). Internet and WiFi are the part of peoples life. Maxis need to focus on these factors to stay in the competitive market and to build a good image in the world. The organization cannot grow its business without analyzing and evaluating the political factors. The political factors influence the operations of the firm. In Malaysia, there is a multi party system and political conditions are stable in such country. In addition, the national media are controlled and managed by the government. In this way, the firm needs to analyze and identify the political factors to enter in the foreign market. Economic factors: The economic factors include inflation rate, interest rate, unemployment rates and taxes that direct influence the telecommunication industry. Expenses influence the pricing per plan that is provided to customers. The needs and requirements of telecommunication services are being increased day by day. Growth of Maxis is dependent on the technological advancements and market as well. Internet and mobile phones are being used by many businesses for marketing and promotion. They create social media pages and digital marketing campaigns to attract more customers across the world (Perdana Leadership Foundation, 2017).Maxis hires customer service representatives to resolve and handle the problem via website live chat. Media managers, marketers and writers manage campaigns and online marketing. Furthermore, programmers and graphic designers are essential to create websites for mobile users and computers. In 1971, the new economic policy was created in Malaysia. The poverty decreased to 8.3% in 2004 against 64.8% in the 1970s. Apart from this, growth rate is sustainable in Malaysia due to effective economic. Maxis needs to monitor the economic factors to gain more revenue and returns in Malaysia. It will also help to hit the competitors in the international market. Social factors: The growth of telecommunication industry is limited. It is difficult and expensive to expand and explore in rural regions. The social factors include education level, values, beliefs, customs and culture of people that could affect the Maxis business. In todays era, telecommunication has become an essential part of the daily life of the every person. In Malaysia, there is a multi cultural society. The main ethnic groups are the native Malays and large populations of Indians and Chinese. The people of Malaysia maintain their customs, culture, religious and way of life. Public holidays are most significant festivals of each and every group in Malaysia. Therefore, it could positively affect the profitability of the firm (Abdullah, 2015). Along with this, children are also educated and well in such country. Also, it provides a good chance to accomplish long term goals of the company. In this way, if the company continuously carries the business activities in Malaysia it c an take various advantages. Technological factors: Innovative and advanced technology plays a vital role in Maxis Telecommunication Company. Basis needs and requirements in smart phones cover messaging, caller ID and voicemail. However, development risk and regulations risk are also involved in technological factors that could negatively affect the success of the organization. In addition, science policy in Malaysia is governed by the ministry of science, technology and innovation. Along with this effective and dynamic technologies are used by Maxis in Malaysia to attract more and more clients in the global world. Technology is an effective source for Maxis to reach its heights in the international market. Legal factors: The telecommunication industry is usually impacted by regulation issues. The issues are generally associated with monopolies, government and customers. The law of Malaysia is primarily based on the common law legal system. Moreover, the constitution of Malaysia also provides for unique and effective dual justice system-Sharia laws and the secular laws. However, complications and issues have arisen in term of the dual justice system (Healy, Palepu, 2012). Thus, the company needs to measure and identify legal factors to run the business successfully and powerfully. None of the firm can attain long term mission and vision without monitoring on the legal factors. Environmental factors: Global warming and climate change can influence the telecommunication products and services. In terms of technology advancement and employment, workers need to adapt the changes.In addition, there are several environmental issues faced by Malaysia like pollution and deforestation. After the various researchers, it has been analyzed that Malaysias deforestation rate is the highest among various nations (Yin, 2013). Apart from this, Malaysia lost an average of 140,200 hectares of its forests since 2000. It also has a negative impact on the success and progress of the firm. Water pollution is also an environmental issue that could affect the activities and operations of telecommunication industry. The profit of the firm depends on the needs, desires and requirements of the customers. All these factors also influence the outcomes and profitability of Maxis. The company should focus on these factors to stand out against the competitors in the universal market. It also helps to build and develop a unique and dynamic financial image in the world. Recommendations to manage the macro environment effectively and efficiently The macro and micro environment play an integral role to expand and grow the trade and business effectively. If the firm wants to start a new business in foreign countries, external and internal factors should be considered. Maxis uses a variety of tools in planning to consider and identify the impacts of macro environment factors. Apart from this, the organization uses PESTLE analysis, SWOT analysis and porter five forces analysis to analyze and measure the strengths and weaknesses of the competitors. Telekom Malaysia, Telenor and Vodafone are the main competitors of Maxis. There are various recommendations have been given to manage the macro environment factors effectively which are discussed below. Effective planning must be done to measure and determine the external factors, market and environment. The firm should adapt unique and dynamic strategies, policies and approaches to manage and handle the various macro environment factors. Along with this, Maxis should monitor the plans, policies and strategies of rivalries and market to gain several competitive benefits in the market (Lange, 2010). The firm should differentiate their products and services from competitors to maximize results and outcomes. In addition, the organization must focus the culture, values and belief of people to manage and handle the socio-cultural issues. Apart from this effective approaches to be used to control on the political and environmental factors. Moreover, the company should identify and measure rules, regulations and laws to run the business effectively and to manage the macro environment successfully (KellyRossotto, 2012). To manage the economic factors, the firm should focus on the economic stability and other economic factors. It will also help to provide a good chance to reduce marketing risks and challenges. Additionally, Maxis should improve the sustainability programs to manage the favorable environment in the country. It will also increase productivity and outcomes of the firm (Porter, 2008). Innovative and unique technologies must be used and initiated by the company to handle and reduce the issues related to technology and resources. All these measures help to maintain sustainability in the workplace as well as environment. The macro environment analysis helps to reduce cost of the firm. It also helps to minimize risks and maximize returns of the company. It will provide several opportunities to companies to grow and expand their business effectively. PESTLE analysis helps to reduce and eliminate effects of potential threats of the organization. Also, it develops and improves cross functional skills and knowledge of the workers. Every company should focus on the external factors such as political, economic, socio-cultural, legal, technology and environmental factors. It will help to generate more and more outputs in the rivalry market. Conclusion On the above mentioned study, it has been concluded that Maxis provides a variety of telecommunication products and services. The firm offers call plans, international roaming, MMS, WAP, monthly subscription plans residential fixed line services to customers in the global world. Apart from this, the company also provides I-Phone services to large variety of customers. On the other hand, the paper explains macro environment elements that affect the growth rate of the firm. External factors play an integral role to increase and improve the performance and productivity. In addition various recommendations have been explained in the task to manage the PESTLE factors effectively and efficiently. Now it is recommended that the organization should focus on the promotional and advertisement strategies to encourage and promote its business activities and operations globally. References Abdullah, R. (2015). China-Malaysia Relations and Foreign Policy.Routledge. Gilpin, R. (2016).The political economy of international relations.Princeton University Press. Healy, P.M., Palepu, K.G. (2012).Business Analysis Valuation: Using Financial Statements. Cengage Learning. Johnston, M. W., Marshall, G. W. (2016).Sales force management: Leadership, innovation, technology. Routledge. Kelly, T. Rossotto, C.M. (2012).Broadband Strategies Handbook.World Bank Publications. Lange, J.S. (2010). Human Resource Management in Indonesia: Important Issues to Know Before Establishing a Subsidiary in Indonesia. DiplomicaVerlag. Li, J., Heap, A. D. (2011). A review of comparative studies of spatial interpolation methods in environmental sciences: performance and impact factors.Ecological Informatics,6(3-4), 228-241. Maxis,(2017).Visionandvalues,retrievedon2ndFeb2018,https://maxis.listedcompany.com/vision_mission.html Maxis,(2017).Corporateprofile,retrievedon2ndFeb2018,https://maxis.listedcompany.com/profile.html Nelson, R. R. (2015).The rate and direction of inventive activity: Economic and social factors. Princeton University Press. Perdana Leadership Foundation. (2017). Political Stability and Sustainability as Key Success Factors in Developing Malaysia: Perdana Discourse Series 4. Perdana Leadership Foundation via PublishDrive. Porter, M.E. (2008). Competitive Strategy: Techniques for Analyzing Industries and Competitors.Simon and Schuster. Salvendy, G. (2012).Handbook of human factors and ergonomics.John Wiley Sons. Van Wormer, K., Besthorn, F. (2017).Human behavior and the social environment, macro level: Groups, communities, and organizations. Oxford University Press. Xu, J. (2005). Market Research Handbook: Measurement, Approach and Practice. iUniverse. Yin, R.K. (2013). Case Study Research: Design and Methods. SAGE Publications.

Human Resource and BPO Corporations Samples †MyAssignmenthelp.com

Qusetion: Discuss about the Human Resource and BPO Corporations. Answer: Introduction The recruitment procedure is one the most critical process for an organisational development. The process includes several steps such as attracting the candidates, analysing their qualification and capabilities, selecting the right applicant and appointing them to the right post. This process benefits the company by choosing the right candidate for the right job which augments the growth of a company. In modern times, the human resource department faces various challenges which negatively influence the recruitment procedure. There are different factors which affect various aspects of a recruitment procedure such as negative organisational image affect attracting process, and unqualified candidate makes it difficult to select the right person for right job. This report will focus on the business process outsourcing industry and its various factors that negatively influence their recruitment procedure. Further, the report will analyse the situation and provide different strategies based upon human resource principles that can improve the recruitment procedure of a company. Business Process Outsourcing Many corporations contract with third-party companies to transfer or outsource their business activities, which are known as business process outsourcing or BPO. As per Caniglia, Ramachandran Khanna (2005), the modernisation of technology and globalisation assist in the growth of BPO industry. The BPO industry provides a large number of employment to people. The growth of BPO industry in Asian countries is remarkable due to a high number of populations in countries such as India, China, and Thailand. The advantages of outsourcing a business activity include reduction of expenses, skilled workforce, and better focus on primary activities. But, along with merits, there are several drawbacks of outsourcing as well such as lack of information security, unpredictable government policies, change in the attitude of employees, and underestimation of expenses (Nadkarni Herrmann 2010). Recruitment Procedure Challenges The human resource department of BPO enterprises faces different problems which recurring new employees. Following are several factors in BPO industry which negatively affects the recruitment process. Negative Organisational Image The first step of the recruitment process is attracting the talented candidates for the recruitment procedure of the company. Ghodeswar Vaidyanathan (2008) provided that the human resource department faces different challenges in attracting talented employees because of the negative organisational image of the enterprise. In most countries such as China and India, BPO sectors did not have a positive reputation in between people. This industry employs a large number of people, but mostly the employees work on low payrolls and high working hours. The organisational environment in a BPO company usually includes late working hours, low basic pay, sexism, and discrimination based on religion. The growth opportunities in BPO sector are low for the employees. Many people quit their job as soon as possible if they get a better opportunity in other companies. Diversity and Discrimination Issues Most of the BPO companies prefer to hire candidates from some locations because they perform their job at a low salary package. According to Doh (2005), most of the BPO companies did not have any regulations regarding discrimination conducted by employees based on religion. The corporations face considerably high problems of diversity throughout BPO industry. The rate of female employees in BPO industry is below 35 percent. Organisations did not prefer to hire female employees because of late working shifts and sexual harassment cases in the workplace. The company did not strictly implement the policies regarding female employees which eventually force them to quit their jobs (Mahmoodzadeh, Jalalinia Nekui Yazdi 2009). Age Gap As per Mehta, Armenakis, Mehta Irani (2006), the age gap between the employees in BPO sector is significantly high. The maximum number of BPO works comes under the age group of 23 to 40. The companies did not prefer to hire aged employees because they lack technical knowledge. Most of the elder employees are not good with technologies, and their productivity is considerably lower than young people. Therefore, BPO companies did not prefer to hire them. Demand/Supply Modernisation and globalisation have positively influenced the growth of BPO industry, in past few decades. Whitaker, Mithas Krishnan (2010) provided that a large number of organisations are using facilities of outsourcing to reduce their costs and improve their quality of services. Due to this development, the demand for talented employees has proliferated in BPO sector. Most of the employees in BPO industry do not possess proper skills of operating a computer or English proficiency. This creates problems for human resource department because it became tough for them to find the talented employees and retain them in the organisation. The supply of talented employees is not enough to satisfy the demand in BPO industry, and it is growing in at a fast pace (Narayanan, Jayaraman, Luo Swaminathan 2011). High Competition BPO industry has grown rapidity in past few decades and it still one of the fastest growing industry. As per Lacity, Solomon, Yan Willcocks (2011), daily new local companies are starting their BPO business which increases the number of competitors in the market. Along with the competition, the demand for talented employees has grown as well. Organisations are competing with each other to attract and retain talented employees. Many companies offer high salary packages and incentive to other corporations employees, in order to employ them. Due to high competition, the talented employees have raised their demands which make the procedure of recruitment difficult for the human resource department. Unqualified Employees In BPO sector, the requirement for employees includes English proficiency, basic computer knowledge, and service orientation. Most of the people in developing countries did not possess these qualifications. The degrees provided by candidates did not prove their qualifications because many applicants use fake degrees. Human resource department faces difficulty in analysing the qualification of candidates, and it also takes a long time (Bharadwaj, Saxena Halemane 2010). Recommendations The human resource department of BPO corporations can adopt various strategies to address the challenges faced by them in recruitment procedure. Following are few of the examples of such strategies. Organisational Training Strategy BPO companies can adopt an organisational training strategy to improve their recruitment and retention procedure. According to Halvey Melby (2007), the demand for talented and skillful employees is high in BPO sector, but the supply is considerably low. To address this issue, corporations can provide training to their employees who can improve their productivity and knowledge. The company can also provide training to new employees to give them a better understanding of their work. The company can establish a lock-in period for the employees who were given training by the organisation, so they did not leave the corporation right after completing their training. Training can benefit human resource department in fulfilling their demand of recruiting talented employees (Rai, Keil, Hornyak WuLlenweber 2012). This strategy also benefits human resource department in filling up the age gap between the employees. Most companies did not hire aged employees due to their lack of technical knowledge and productivity. By providing them on the job training, human resource department can employ them in the workplace. Trained employees are also easier to manage which benefit the company by maintains a positive work environment (Graf Mudambi 2005). Better Salary and Incentive Packages Most people did not prefer to work in BPO sector is because the companies did not provide better salary packages to their employees. Mani, Barua Whinston (2006) provided that the incentives and bonus schemes of BPO corporations are not according to the long working hours. To address this issue, companies should establish better policies regarding salary packages. Better salary packages attract talented employees which is beneficial for the organisation. The organisation can establish an incentive policy according to the performance of employees; this strategy will motive employees in improving their productivity and also solves the retention issues of BPO corporations. Diversity Culture The top-level management of BPO corporations should implement an efficient workplace culture which must be followed by the employees. As per Conklin (2005), the human resource department did not receive talented candidates in recruitment procedure because of the negative work culture in BPO sectors. By implementing proper diversity regulations and cooperative policies, the BPO corporations can improve their working environment. The human resource department should also promote the hiring of employees with different cultural backgrounds which promotes the diversity in the company. Human resource department should not discriminate against candidates based on their age, gender, caste or religion. The female employees should receive similar salary packages and opportunities as compared to male workers. The positive work environment will improve the organisations image of BPO corporations which can benefit the human resource department in recruitment procedure. Most talented employees would prefer to work for the organisation with positive culture than high pay grade (Handley Benton 2009). Conclusion From the above report, it can be concluded that the human resource department in BPO sector faces various problems in the recruitment procedure. There are several internal and external factors which affect the quality and effectiveness of the recruitment process. The factors which affect the recruitment procedure include bad reputation of BPO corporations, the rapid increase in competition, unqualified employees, lack of diverse culture and low salary packages. To address these issues, there are various policies that a company can implement to improve the recruitment procedure. To attract talented candidates in the recruitment process, the company should establish better diversity policies and provide higher salary packages to employees. The retention of employees can be improved by the establishing positive work environment and stabling performance-based incentive scheme. The demand for talented employees and age gap issues can be fulfilled by establishing an organisations training facility. These strategies can improve recruitment procedure of a BPO company and sustain their development. References Bharadwaj, S. S., Saxena, K. B. C., Halemane, M. D. (2010). Building a successful relationship in business process outsourcing: an exploratory study.European Journal of Information Systems,19(2), 168-180. Caniglia, J., Ramachandran, K., Khanna, V. (2005).U.S. Patent Application No. 11/159,819. Conklin, D. W. (2005). Risks and rewards in HR business process outsourcing.Long Range Planning,38(6), 579-598. Doh, J. P. (2005). Offshore outsourcing: Implications for international business and strategic management theory and practice.Journal of Management Studies,42(3), 695-704. Ghodeswar, B., Vaidyanathan, J. (2008). Business process outsourcing: an approach to gain access to world-class capabilities.Business process management journal,14(1), 23-38. Graf, M., Mudambi, S. M. (2005). The outsourcing of IT-enabled business processes: A conceptual model of the location decision.Journal of International management,11(2), 253-268. Halvey, J. K., Melby, B. M. (2007).Business process outsourcing: Process, strategies, and contracts. John Wiley Sons. Handley, S. M., Benton, W. C. (2009). Unlocking the business outsourcing process model.Journal of operations management,27(5), 344-361. Lacity, M. C., Solomon, S., Yan, A., Willcocks, L. P. (2011). Business process outsourcing studies: a critical review and research directions.Journal of information technology,26(4), 221-258. Mahmoodzadeh, E., Jalalinia, S., Nekui Yazdi, F. (2009). A business process outsourcing framework based on business process management and knowledge management.Business Process Management Journal,15(6), 845-864. Mani, D., Barua, A., Whinston, A. B. (2006). Successfully governing business process outsourcing relationships.MIS Quarterly Executive,5(1). Mehta, A., Armenakis, A., Mehta, N., Irani, F. (2006). Challenges and opportunities of business process outsourcing in India.Journal of Labor Research,27(3), 323-338. Nadkarni, S., Herrmann, P. O. L. (2010). CEO personality, strategic flexibility, and firm performance: The case of the Indian business process outsourcing industry.Academy of Management Journal,53(5), 1050-1073. Narayanan, S., Jayaraman, V., Luo, Y., Swaminathan, J. M. (2011). The antecedents of process integration in business process outsourcing and its effect on firm performance.Journal of Operations Management,29(1), 3-16. Rai, A., Keil, M., Hornyak, R., WLlenweber, K. (2012). Hybrid relational-contractual governance for business process outsourcing.Journal of Management Information Systems,29(2), 213-256. Whitaker, J., Mithas, S., Krishnan, M. S. (2010). Organizational learning and capabilities for onshore and offshore business process outsourcing.Journal of Management Information Systems,27(3), 11-42.