Factors Of Production To Carry Out Business Activity Business Essay - Free Essay Example

Sample details Pages: 5 Words: 1459 Downloads: 3 Date added: 2017/06/26 Category Business Essay Type Analytical essay Did you like this example? A business employs factors of production to carry out its business activity. It is very important for a business to be sure that all its resources are allocated efficiently in order to be profitable. The most important, vital and significant resource of a company is the people it employs. Don’t waste time! Our writers will create an original "Factors Of Production To Carry Out Business Activity Business Essay" essay for you Create order Due to increasing globalization and competition, the productivity of labour has become increasingly important for the companies in determining its efficiency. Businesses, like those in service sector, whose staff deal directly with its consumers need to be very conscious about he motivation level of their employees. Motivation has become important for the business to gain competitive edge by attracting the best recruits. They must be aware that to win completion, it is important for them to attract and retain the best labour possible. Motivation is a set of various activities that determined a person to engage in particular behaviour. A motivated labour force helps business to achieve its goals profitably. An unmotivated labour may not work quickly, efficiently and provides the minimum of what is expected of them. Motivation for work is one of the elementary determinants of organizational and individual performance. Motivated labour is the cornerstone of all organizations and this holds true in, non-profit sectors, the public and the private. many of the studies( Eskildsen Dahlgaad 2000) show that a happy labour force is highly motivated work more efficiently and effective, have good spirit at work ,have good morale at work and work more effectively and efficiently and hence worker satisfaction, therefore, directly impacts process quality. Process quality then determines customer satisfaction and quality cost. Research shows, in Pakistan, it has become a major challenge for the commercial banks to encourage employees to provide quality services. This is because there is a strong struggle among the banks in Pakistan to assure best quality services to their clientele. The commercial banks have a vital role in the global economy and employees are the major source of delivering goods and services to their clientele. The excellent service offered and provided by the employees has the ability to create a positive and a long lasting image in the eyes of consume rs. Introduction to the company: Company history and background: Habib bank, also commonly known as HBL is headquartered in Habib bank plaza in the city of Karachi, pakisatna.HBL is the largest bank of Pakistan with a huge network of 1425 branches within Pakistan and 55 branches around the world. Habib bank holds a domestic market share of approximately 40% and has continued to dominate the commercial banking sector. Overseas it operates in the following countries: Australia, Afghanistan, Belgium, Bangladesh, china, Canada, France, Iran, Hong Kong, Bahrain, Lebanon, Maldives, Kenya, Nigeria, Singapore, Sri Lanka, Oman, UK, USA, UAE, Turkey, Nepal and Netherlands.(scribd.com) 250px-Location_of_branches_of_Habib_Bank The founder of Pakistan, Mohammad Ali Jinnah realized how important was the establishment of financial intermediation as his campaigned for the creating of Pakistan. Jinnah persuaded the Habib family to establish a commercial bank with its headquarters in Mumbai. The efforts resulted in the creation of Habib bank in 1942 with a fixed capital of about 25000 rupees. Habib bank played an important in financing the campaign of all India- Muslim leagues that aimed to establish Pakistan. This bank also played a significant role in channelling relief funds to those people that got hurt in the day to day communal riot that preceded the departure of the British from the land of India After the establishment of Pakistan in 1947, Jinnah urged Habib bank to move its head quarter to Karachi, the first capital of Pakistan. This gave the newly formed state, Islamic republic of Pakistan, its first commercial bank in Karachi. Habib bank limited was incorporated on august 25th 1941 operating in the private sector until in 1974 it was nationalized. Services offered by the company: Habib bank provides the basic range of banking services to its clientele that includes corporate, commercial, retail banking and investment, Islamic banking and treasury. Company description: The banking company, Habib bank limited is engaged in retail and commercial banking and related services in domestic and overseas market. Brand of HBL: HBL states: our brand identity is an expression of what we are standing for as an organization. This is expressed by our mission statement, our vision and all is supported by our values. Vision: Letting people to advance with success and confidence Mission statement and the ultimate mission of HBL : To be Pakistans leading financial institution and largest bank that emerges in the international market, providing its customers with exceptional innovative services while granting superior value to the employees, customers and shareholders of the company. To create a good value for shareholders, let the staff excel and make our customers precious prosper. Values of HBL: Its the companys values that makes it unique and define its excellent culture. It includes: Excellence Customer focus Integrity Meritocracy Progressiveness Research Objectives The purpose of this research is to use the different approaches/methodologies to achieve the objectives of my research. To evaluate the possible effect of motivation on employees work performance. To critically appraise current motivation strategies and their effectiveness in Habib Bank Limited. To make recommendation for the design and implementation of organizational motivational policies in Habib Bank Limited in order to improve productivity. Research Questions What methods does Habib Bank Limited currently use to motivate staff? How can the effectiveness of motivation strategies in Habib Bank Limited be measured How effective are Habib bank motivation strategies and what recommendations can be made for their improvement? Rational: Choosing a research topic is not as easy. It requires extensive study and research before any conclusions can be reached. For my research, the process involves identifying factors that may leave an impact upon motivation level. Next step was to measure the motivation (highly motivating, moderately motivating not motivating) and then measuring he impact on work performance. As employee work performance is an essential element of banking sector, this research will provide me a deeper insight into the complexities and problems that our service sector specially banks encounter. This will also allow me to deeply study Pakistans largest bank which will be add greatly to my knowledge. Personal motivation: I took a keen interest in Human Resources Management during my college days but I took admission in M.Sc (Physics), I completed my Masters ( Physics) in my home country (Pakistan) and started work as a teacher in college. When I came here (UK), most of my colleagues completed their MBAs in their respective fields. I contacted them and enquired about the subject .At last I took admission in Kaplan (London) which is famous for imparting quality education worldwide. After completing my degree ,I will choose Human Resources Management as a field in the future and I hope it will also expand my vision and will impart me the qualities which are important for a Human Resources Manger. It is readily accepted that Human Resources Management is an important branch for any organisation and for its success to achieve the goals. Therefore, there is a demand for qualified and well trained Human Resource Professionals in all branches. It is an extremely competitive region and for this purpos e, I will increase my qualification in this field. Therefore having a strong background in Human Resources I would like to start a new field for myself as a human resource expert in the future and this topic will give a vast exploration in this field and will broaden my knowledge in this field. Significance for Habib bank limited: It is hoped that the conclusion of this study will be of immense significance to management and policy maker of the Habib Bank Limited. It will not only provide them an advantage to reassess their organizational policies but will also allow them to address the minor problems and existing dissatisfaction in its employees that have been revealed through this report. Not only this, but HBL can also take advantage of the questionnaire that had been designed for the purpose. It will let them know what the maximum of their employees feel about their organisation and work. They can also measure their responsiveness to the set questions and respond to the needs practically. ACADEMIC UNDERSTANDING From an academic point of view, this research will contribute to the present opinion and will help many other students and researchers. it will be provide a comprehensive foundation for further study. It will not only highlight and explore factors that determine motivational strategies and their impact on the motivation of employees but will also identify endeavours that will help influence the commercial banks for a consideration of a more structured and systematic approach, acknowledge employees efforts which would then flourish culture of high performance in Pakistans commercial banks.

How The Germans Influenced Modern Day Slavery Essay

Bruce R. Kokubun Mr. Black 7th Grade World Studies P.2 16 November 2016 How The Germans Influenced Modern Day Slavery Today I will be talking about how Germany influenced slavery, war, peoples’ perspective on immigrants, and many more things and how it affected modern day life. I think Germany greatly affected today partly because of Hitler. I think he greatly influenced the world because of his personality. I also think that the German army was very strong making them feared, powerful, and united. I also think that Germany still has lots of power and is still feared today as a torture and powerful country. I think that many people today and maybe even countries think that Germany is a bad country. If you are one of those people, I hope today I can change your mind because Germany is a very intelligent and cool country because without them, our world would be greatly changed. I think Germans influence on slavery and many more things greatly changed people’s perspective on immigrant’s and ideas. Germanys background is very unique and very engrossing. With Germany being the third largest country in the European Union, following the Boot, France and finally Spain, Germany has a lot of power. (Countries of the World) Germany also had a history of being divided, which means they are not very united but can make strong comebacks. A little after A.D. 436, Germany was divided and ruled by tribal leaders. Because of this, some of the tribes called themselves holy. By takingShow MoreRelatedHegels Contradiction in Human History Essay1243 Words   |  5 PagesHuman beings have been struggling to learn the meaning of life since the first day. Ideologies are born as human’s interpretation of the world and belief system, also an endeavor to seek the truth of human nature. Ideologies emerge throughout the periods of great changes: the Enlightenment, the English â€Å"Glorious† Revolution, the American Revolution, etc. They have become the motivations, the standards, and the roots to modern polit ical systems. Their roots are the philosophies developed by famous philosophersRead More`` Metropolis `` : The Film, Metropolis, By Karl Marx1721 Words   |  7 Pagesunfortunately known for exploiting fellow humans. Major instances of exploitation include slavery and, as German philosopher Karl Marx argued, capitalism. Marx, having observed the class conflict between the bourgeoisie (the capitalists) and the proletariat (the workers), said that in the capitalist system, the bourgeoisie take advantage of the proletariat for financial gains. With the introduction of modern industry, instead of helping the workers work less, machinery only worsened the conflict asRead MoreExample Of Heroism1907 Words   |  8 PagesHeroes play a significant role in modern day society, as well as throughout history. Heroes are portrayed in many different forms. A hero can be anyone that has committed an act of heroism, by completing a task for the benefit of others instead of oneself. Our first heroe s as children tend to be our parents. Society sets a standard, or guideline that determines if a person is correctly defined by the term heroism. A hero’s cause or morals also can evolve as society changes. Heroism throughout theRead MoreGlobal Sex Work Is Affecting The Most Personal Parts Of Peoples Lives Around The World1331 Words   |  6 PagesRepublic. These women are all sex workers who specialize in working for foreign men, in the hope of finding a foreign man to marry so that they can get a visa to live in another country. The women foster relationships with foreign men, particularly Germans, and attempt to convince them to send them money and potentially lead to marriage. The women are fortunate in that they are in charge of their own work, without pimps or middlemen, and they actually end up in Soà ºsa because of other women and familyRead MoreThe Presidency Of The United States1401 Words   |  6 Pagessuch as Abraham Lincoln, wielded great power and significant ly influenced the future of the United States, many were really just caretakers eclipsed in prominence by various industrialists and robber barons. The modern American presidency was actually the creation of Theodore and Franklin Roosevelt who by different means expanded and strengthened the office of the President of the United States. The Roosevelt family revolutionized how the United States operated and functioned. They had implementedRead Morecolonialism1163 Words   |  5 PagesHow should we evaluate colonialism? The colonial era lasted for 50-80 years in most African countries and left a lasting legacy. But many years pass before the definitive balance of its legacy can be properly struck. On the one hand, it is easy to see the destructive forces that were set loose; on the other hand, there was also a record of high-minded devotion and desire to serve the interest of the people who had come under foreign rule. Although Western countries had been in contact with AfricaRead MoreGlobal Sex Work Different Connotations For Different People1324 Words   |  6 PagesRepublic. These women are all sex workers who specialize in working for foreign men, in the hope of finding a foreign man to marry so that they can obtain a visa to live in another country. The women foster relationships with foreign men, particularly Germans, and attempt to convince them to send them money and potentially lead to marriage. The women are fortunate in that they are in charge of their own work, without pimps or middlemen. Many women actually migrate to Soà ºsa as a result of other women andRead MoreProstitution in Canada Essay946 Words   |  4 Pagescircumstances in which they find themselves with laws showing an antiquated view on the issue of prostitution—one that prosecutes sex workers instead of those who take advantage of women’s situations and buy sexual services. BY examining the origins of curr ent-day laws concerning prostitution in Canada and looking at European legislation as well as its successes and failures made it is possible to find a middle ground that will suit Canada should it ever decide to change its laws concerning prostitution. WhileRead MoreThe Differences Between The United States And The North And Slave Owners Of The South2502 Words   |  11 Pagesthe 1800s The United States of America faced a great divide, with slave states concentrated in the South and free states occupying the North, both sides differed greatly. While the foundation of the South was built and relied on the principles of slavery, the North was vastly different in that the region was built upon a system of industry and manufacturing, where all workers were employed and gainfully compensated. Although these two regions of the country were supposed to stand united, this veryRead MoreEffects Of The Enlightenment On Modern America1592 Words   |  7 PagesRegina Hamilton Dr. Ermus WOH1030 22 September 2014 Effects of The Enlightenment on Modern America There are many things that set America apart from the world. Most notably are our political structure, social structure, capitalistic ideals, and the free exchange of ideas and beliefs that were all born from the desire for freedom. After hundreds of years of being told what to do by the Church and the monarchy, there came a time when the people decided that it was time to come out from under the

What Is the Moral of the Scarlet Letter Essay - 952 Words

Nathaniel Hawthorne is famous for his long fictional work the scarlet letter in 1850, which is still considered as the most important work of him. The scarlet letter involves the presence of facts and figures to support the text and also includes the fictional work in the text. Hawthorne was actually inspired from the manuscripts he got in the custom house in Salem while he was working as an executive officer or the surveyor in custom house where the taxes are paid, their he found the documents and a manuscripts with the piece of cloth, a badge letter A. Hawthorne started to read the manuscripts and thought of writing the scarlet letter which was about a women called Hester Prynne. The scarlet letter is written in a way†¦show more content†¦During puritan age people were guided and molded by norms and values of god. When Hester Prynne lived in puritan society she was treated badly by all the people around her. For hester puritan society was evil she compared it as a hell for living. Puritan society followed strict laws and everyone was suppressed by the law, so that everyone will not commit sin or crime. For hester it was her worst nightmare being around the town and to wear the letter A to remind her of sin and guilt she should have. She committed sin without knowing the circumstances for her and her child and knowing the fact that puritans will punish her, humiliate her child and she will have to bear the public voices. There is no solution to escape from her sin as the society will not let her go. The society has the power and she should obey the punishment as the puritans have rights to prison her, so the strict puritan society is an important moral in the scarlet letter. Another important moral in the scarlet letter is the sin and the guilt of the Hester Prynne. Hester commits a crime which is great and she should be ready to face it. Hester being in love affairs has cost her life in prison. Being in affair with Dimmesdale a men whom she loved and got pregnant was not a small matter but what counts the most was that she was already married so these matter was big and no way for society to except her faults and she isShow MoreRelatedWhat Is the Moral of the Scarlet Letter Essay1116 Words   |  5 Pages The scarlet letter is a text written by Nathaniel Hawthorne in 1850 a fictional work which tells about the history of England during the puritan age and the story of women named Hester Prynne. The author feels this text as a romantic work because the text includes about love and the adulteress. The text involves facts and fiction of the author such as the â€Å"Custom-House is a fact and real, while the author was working as a surveyor in the Salem custom house inRead MoreSummary Of The Scarlet Letter 1329 Words   |  6 PagesJanuary 2016 Morality in The Scarlet Letter In The Scarlet Letter, Hawthorne describes many defining instances of different characters’ morality. Some of the characters’ opinions are very different, but the people of the town have a general morality that leads Hester Prynne and Arthur Dimmesdale to deal with their sins differently in public, than in private. First, Hester’s morality, is not very defined at the beginning. She seems as though she does not care what other people think of her. SheRead MoreSymbolism, Use Of Color, And Themes Of Nathaniel Hawthorne s The Scarlet Letter1657 Words   |  7 Pagesand Themes in The Scarlet Letter The Scarlet Letter is regarded as the first symbolic novel in American Literature for Nathaniel Hawthorne s skillful use of symbolism and allegory. The novel is also said to be the greatest accomplishment of American short story and is viewed as the first American psychological novel, which makes Hawthorne win an incomparable position in American Literature. Hawthorne’s â€Å"unique gift† for using this kind of skills taps into the roots of man s moral nature and givesRead MoreStereotypes in the Scarlet Letter1441 Words   |  6 Pagesnovel The Scarlet Letter that some dogmatic attempts by society to label a person by his or her actions in the past will fail. Subjectivity across the community and throughout time changes the meaning of a symbol society implements to control an idea. The scarlet letter â€Å"A† Hester Prynne wears exemplifies this. The town wants the object to arouse feelings of ignominy towards Hester; however, not everyone who meets Hester inter prets it the same way. The town originally regards the letters as a significationRead MoreEssay Sin, Guilt, and the Mind of Nathaniel Hawthorne1490 Words   |  6 PagesSin, Guilt, and the Mind of Nathaniel Hawthorne      Ã‚   Nathaniel Hawthornes works are notable for their treatment of guilt and the complexities of moral choices. Moral and religious concerns, in short, are almost always present in Hawthornes work(Foster, 56). Given Hawthornes background, it is not a stretch of the imagination to say that his novels are critiques of Puritanism. Hawthorne lived in the deeply scarred New England area, separated from Puritanism by only one generation. His grandfatherRead MoreSymbolism From The Scarlet Letter867 Words   |  4 PagesEmalee McCracken Mrs. Voshell Honors English 10 21 December 2016 Symbolism in The Scarlet Letter There are many forms of symbolism found in The Scarlet Letter. Hawthorne, the author uses his many forms of symbolism to project a lesson or moral created throughout the story. Even each of the main characters has a different moral representation. Guilt, repentance, purity, and strength each are shown through the eyes of a different character. Pear, Hester Prynne, Chillingworth, and Reverend DimmesdaleRead MoreSpheres in Scarlet Letter Essay1627 Words   |  7 Pagesare. Nathaniel Hawthorne also criticizes the Utopian ideals that societies often hold in his novel, The Scarlet Letter. The main character, Hester goes astray from the rules of her Puritan town and must wear a scarlet letter on her chest to declare her sin. The scarlet letter isolates Hester from the pressures to conform to society, giving her the opportunity to find her individualistic moral perspective in life and she shares this revelation with Dimmesdale. Hawthorne conveys this concept of individualismRead MoreBeing Earnest By Oscar Wilde1332 Words   |  6 Pagesindirectly connected to the idea of moral ambiguity that The Scarlet Letter portrays. Nathaniel Hawthorne’s classic novel The Scarlet Letter depicts the actuality of romance, sin, and revenge rooted in the 17th century American society. Strong Puritan beliefs of the characters in The Scarlet Letter created many different forms of moral ambiguity that can be described as illustrating both good and evil. Among the characters in the Scarlet letter with such moral struggle, Dimmesdale is presented toRead MoreIs the Scarlet Letter a Proto Feminist Novel1510 Words   |  7 Pages21, 2012 Is The Scarlet Letter a Proto Feminist Novel? â€Å"Is The Scarlet Letter a Proto Feminist Novel?† The Scarlet Letter is a very well-known novel, between the scandals and lies. It starts off with a woman named Hester Prynne. Hester decides to leave her husband behind to migrate to Boston. A couple years later, Hester gives birth to a baby girl named Pearl in prison. Hester refused to reveal the father of Pearl. The town then forces Hester to wear a scarlet letter A upon her dressRead MoreSymbolism Of The Scarlet Letter By Nathaniel Hawthorne923 Words   |  4 Pagesits exact connotation. In literature, the symbol can be a person, item, circumstance, or action that has a more profound significance in the writing. In The Scarlet Letter, by Nathaniel Hawthorne there are four main symbols that the reader would notice. The symbols include, the colors red and black, the meteor, Pearl, and the scarlet letter itself. Hawthorne uses symbolism in the novel to communicate his message. In this Puritan society a group of men and women gather around a door that is heavily

Auschwitz (1015 words) Essay Example For Students

Auschwitz (1015 words) Essay AuschwitzAuschwitzHow could all this have happened? Thisis one of the many questions associated with the Holocaust. The Third Reichof no doubt on of the worlds largest and most feared empires. It couldhave easily overthrown the Roman Empire and was the most worthy adversaryof the British Empire. The most overwhelming and terrifying aspect of theSecond World War has got to be the ghettos, concentration camps and ofcourse the death camps. The camp that stands out in everybodys mind hasgot to be Auschwitz. Out of the 6.8 million killed there were 6000 killedat Auschwitz a day. What some people may not know is that Auschwitz wasactually three camps fused into one. The most potent and efficient wayof mass murder was the gas chamber. That is if you lasted the trip there. But the most insulting part of the whole ordeal to the Jewish was beingburned in one of the many Crematoriums. The Nazis established Auschwitz in April1940 under the direction of Heinrich Himmler, chief of two Nazi organizations-theNazi guards known as the Schutzstaffel (SS), and the secret police knownas the Gestapo. The camp at Auschwitz originally housed political prisonersfrom occupied Poland and from concentration camps within Germany. Constructionof nearby Birkenau (Brzenzinka), also known as Auschwitz II, began in October1941 and included a womens section after August 1942. Birkenau had fourgas chambers, designed to resemble showers, and four crematoria, used toincinerate bodies. Approximately 40 more satellite campswere established around Auschwitz. These were forced labor camps and wereknown collectively as Auschwitz III. The first one was built at Monowitzand held Poles who had been forcibly evacuated from their hometowns bythe Nazis. Prisoners were transported from all over Nazi-occupied Europeby rail, arriving at Auschwitz in daily convoys. Arrivals at the complexwere separated into three groups. One group went to the gas chambers withina few hours; these people were sent to the Birkenau camp, where more than20,000 people could be gassed and cremated each day. At Birkenau, the Nazisused a cyanide gas called Zyklon-B, which was manufactured by a pest-controlcompany. A second group of prisoners were used as slave labor at industrialfactories for such companies as I. G. Farben and Krupp.Camp CommandantRudolf Hoess admitted to a minimum figure of 2.5 million deaths at Auschwitz. Reflecting back some years later on the experiments in the basement ofBlock 11 and later in Gas Chamber and Crematorium 1, Hoess said: At the time I did not think aboutthe problem of killing Soviet prisoners of war. It was an order and I hadto execute it. However, I will say frankly that killing that group of peopleby gas relieved my anxieties. It would soon be necessary to start the massextermination of the Jews, and until that moment neither I Eichmann hadknown how to conduct a mass killing. A sort of gas was to be used, butit was not known what kind of gas was meant and how to use it. Now we hadboth the gas and the way of using it. I had always been concerned at thethought of mass shootings, particularly of women and children. I was alreadysick of executions. Now my mind was at ease.Some prisoners survived through the helpof German industrialist Oskar Schindler, who saved about 1000 Polish Jewsby diverting them from Auschwitz to work for him, first in his factorynear Krakow and la ter at a factory in what is now the Czech Republic. Athird group, mostly twins and dwarfs, underwent medical experiments atthe hands of doctors such as Josef Mengele, who was also known as the Angelof Death. The camp was staffed partly by prisoners, some of whom wereselected to be kapos (orderlies) and sonderkommandos (workers at the crematoria). .ue0fcab27f0a4657d068ecc1e3f2d7b89 , .ue0fcab27f0a4657d068ecc1e3f2d7b89 .postImageUrl , .ue0fcab27f0a4657d068ecc1e3f2d7b89 .centered-text-area { min-height: 80px; position: relative; } .ue0fcab27f0a4657d068ecc1e3f2d7b89 , .ue0fcab27f0a4657d068ecc1e3f2d7b89:hover , .ue0fcab27f0a4657d068ecc1e3f2d7b89:visited , .ue0fcab27f0a4657d068ecc1e3f2d7b89:active { border:0!important; } .ue0fcab27f0a4657d068ecc1e3f2d7b89 .clearfix:after { content: ""; display: table; clear: both; } .ue0fcab27f0a4657d068ecc1e3f2d7b89 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .ue0fcab27f0a4657d068ecc1e3f2d7b89:active , .ue0fcab27f0a4657d068ecc1e3f2d7b89:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ue0fcab27f0a4657d068ecc1e3f2d7b89 .centered-text-area { width: 100%; position: relative ; } .ue0fcab27f0a4657d068ecc1e3f2d7b89 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ue0fcab27f0a4657d068ecc1e3f2d7b89 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ue0fcab27f0a4657d068ecc1e3f2d7b89 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .ue0fcab27f0a4657d068ecc1e3f2d7b89:hover .ctaButton { background-color: #34495E!important; } .ue0fcab27f0a4657d068ecc1e3f2d7b89 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .ue0fcab27f0a4657d068ecc1e3f2d7b89 .ue0fcab27f0a4657d068ecc1e3f2d7b89-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ue0fcab27f0a4657d068ecc1e3f2d7b89:after { content: ""; display: block; clear: both; } READ: Soviet German War EssayMembers of these groups were killed periodically. The kapos and sonderkommandoswere supervised by members of the SS; altogether 6000 SS members workedat Auschwitz. By 1943 resistance organizations had developed in the camp. These organizations helped a few prisoners escape; these escapees tookwith them news of exterminations, such as the killing of hundreds of thousandsof Jews transported from Hungary between May and July 1944. In October1944 a group of sonderkommandos destroyed one of the gas chambers at Birkenau. They and their accomplices, a group of women from the Monowitz labor camp,were all put to death. When the Soviet army marched into Auschwitz to liberatethe camp on January 27, 1945, they found about 7600 survivors abandonedthere. More than 58,000 prisoners had already been evacuated by the Nazisand sent on a final death march to Germany. In 1946 Poland founded a museumat the site of the Auschwitz concentration camp in remembrance of its victims. By 1994, about 22 million visitors-700,000 annually-had passed throughthe iron gates that bear the cynical motto Arbeit macht frei (work makesone free). German war interests required the maximizationof economic benefits from this cold-blooded murder. Beforethe bodies were burned the victims hair was cut off and fillings and falseteeth made of precious metals were removed. The hair was used for makinghaircloth, and the metals were melted into bars and sent to Berlin. Afterthe liberation tons of hair were found in camp warehouses; the Nazis hadnot had time to process it all. Proof that this hair came from victimsof gassing was provided by The Krakow Institute of Judicial Expertise,whose analyses showed that traces of prussic acid, a poisonous componenttypical of Zyklon compounds, were present in the hair. In 1941-1944 prisoner of KL Auschwitz,then of KL Gross-Rosen and KL Flossenburg-Leitmeritz, from which he escapedin April 1945. After the war, journalist, author of many articles aboutAuschwitz: active in many associations and organizations, acting, for exampleas Secretary General of the International Auschwitz Committee and memberof the Main Commission for the investigation of Nazi Crimes in Poland. Deniers acknowledge that some Jews were incarcerated in places such asAuschwitz, but they maintain, as they did at the trial of a Holocaust denierin Canada, it was equipped with all the luxuries of a country club,including a swimming pool, a dance hall and recreational facilities. SomeJews may have died, they said, but this was the natural consequence ofwartime deprivations.

Accounting For Business Decisions Harvey Norman Company Case Study

Questions: Part A Provide an executive summary of your companys background relating to business structure, operations, services and all other business activities that are conducted, etc. Part B Recently you received the following offers from the organizers of Melbourne Tennis Open 2015:Now you can buy premium tickets to the coming Melbourne Tennis Open 2015 with signatures of your choice of popular tennis players like Rafael Nadal, Roger Federer to name a few. However, there are only 3,000 tickets that have these collectible features. Retail price: $300 each Tennis club members: $280 each To order, complete the online order form @ www.MTO2015.com.au. Allow 5 days for deliveryRequired:1. Describe the alternatives the organisers have in relation to recognizing revenues. Which would you recommend and why?2. Would your answer differ if you included in the sale of the tickets that if the customers are not happy the tickets may be returned within one month?3. Let us assume that the organisers contracted a selling agent that takes care of all selling and marketing responsibilities, gets 10% as commission. The policy states that no returnno exchange. When should the organisers reco gnize revenue?4. With regards to the authenticity of the signatures, do you think the accounting profession have the skills to provide the services to authenticate? Discuss and show examples.5. Discuss the importance of Cost of Goods Sold(COGS) in this case. How is it applied?6. Let us say that the signatories will get a fixed fee for the effort, when would the organisers recognize the expense?7. Assume that the signatories will get a 5% commission on the sales of their signed tickets.When would the organisers recognize the costD Answers: Part A Introduction This paper focuses on providing an insight to the structure of the financial statements and contribution of these elements in the decision making and strategy development of an organization. In this assignment, a public company listed on the Australian Stock Exchange will be chosen and the annual report will be scrutinized for undertaking research on the financial statement (Drury, 2004). In this paper, the balance sheet, income statement, cash flow statement and shareholders equity. Comparison of the major elements with the previous year will be conducted in this paper. Background of the Company Harvey Norman was established by Gerry Harvey and Ian Norman in 1982. In the year, 1987 Harvey Norman Holdings Limited was listed on the Australian Stock Exchange (ASX). The company has been focusing on integrated franchising, property and retail businesses. It has been found that Harvey Norman has been operating under a franchise system and delivering excellent retail offerings to the customers. The product range is wide and the advanced technology along with the market leadership helped in the achieving organizational success. The company has granted franchises to the independent business operators under major three brand names such as Harvey Norman, Joyce Mayne and Domayne. The franchisees are engaged in selling products in various categories such as small appliances, electrical goods, flooring, carpets, bedding, furniture and computerized communications. The organizational culture of Harvey Norman is multifaceted. Hence, it becomes difficult to describe it specifically due the or ientation of the franchise system. Specific proportion of the earnings of franchisee and the revenue is spent for in the local community (Harveynormanholdings.com.au, 2015). Analysis of the Financial Statements of Harvey Norman Balance Sheet Analysis Balance sheet of an organization depicts the assets and liabilities of the company. All types of assets including current asset, fixed asset, and intangible assets are represented so that the financial position of the company can be understood. On the other hand, it is important to indentify the long terms as well as short term obligations of the company. It significantly helps in the decision making process. This section will focus on comparing the major five elements of balance sheet for 2013 and 2014 of Harvey Norman (Epstein and Lee, 2000). The following table indicates important five elements of balance sheet for the consecutive two years and percentage change. Particulars Values are in '000 2013 2014 % change Total Current Assets $ 1,531,913.00 $ 1,607,167.00 4.912% Total Non-current Assets $ 2,533,118.00 $ 2,618,169.00 3.358% Total Current Liabilities $ 1,262,232.00 $ 834,057.00 -33.922% Total Non-current Liabilities $ 867,119.00 $ 471,998.00 -45.567% Total Stockholder's Equity $ 2,363,855.00 $ 2,491,106.00 5.383% From the above table, it can be understood that the current asset of Harvey Norman has increased by 4.912% (Harveynormanholdings.com.au, 2015). It indicates that the access to the liquid assets or easily convertible asset has increased. It has a positive implication for the company(Hansen and Mowen, 2000). Additionally, it must be noted that excess current asset is not favorable and it indicates that the company has not been able utilize its assets. From the above table, it is also implied that the non-current asset which is consisted of capital asset, fixed asset and intangible assets has enhanced (Ferranti, 2003). It means the overall asset of the company is increasing and Harvey Norman has enough capital to expand its business activities. On the other hand, current liabilities of the company have declined. It means that the company is not receiving high credit period by the suppliers. Similarly, the above table demonstrates a significant decline in the non-current liabilities. The se values imply that Harvey Norman has been paying off its liabilities and its obligation has declined considerably. Total stockholders equity has also increased in 2014 by 5.38% from the previous financial year. Income Statement Analysis Income statement helps in indicating the amount of revenue and expenditure incurred throughout the financial year. Income statement is one of the important financial statements that help in providing an insight to the profit and loss of the company (Epstein and Lee, 2000). This section will focus on analyzing the income statement of Harvey Norman. Principle elements of the income statement will be compared with the previous financial year. The following table compares the major elements in the income statement and demonstrates the percentage change: Particulars Values are in '000 2013 2014 % change Total Operating Revenues $ 1,323,481.00 $ 1,513,662.00 14.370% Cost of Goods Sold $ 944,229.00 $ 1,064,892.00 12.779% Total Expenditure before tax $ 1,247,380.00 $ 1,198,834.00 -3.892% Earnings per common share $ 0.1339 $ 0.1993 48.842% From the above table, it is evident that the operating revenue of Harvey Norman has increased by 14.37% in 2014 in comparison to the previous financial year (Harveynormanholdings.com.au, 2015). It is a positive implication for the financial performance of the company. This value indicates the company has been able to enhance its sales and customer base has enhanced. Additionally, the cost of goods sold has increased by 12.779%. As the sales volume has increased, it is obvious that the cost of goods sold will increase (Hansen and Mowen, 2000). However, it must be noted that the proportion of increase in sales or revenue differs from the increase in the cost of goods sold. The rise in cost of goods sold is lower in comparison to the rise in revenue (Freedman and Jaggi, 2000). It implies that Harvey Norman has been able to work efficiently to control its cost of production. From the above table, it can be found that total expenditure excluding tax has declined by 3.892% from the previou s financial year. It significantly implies that Harvey Norman has been able to achieve higher level of operational efficiency in 2014 in comparison to 2013. Hence, it can be stated that the operational performance of the company has improved leading to enhance the financial performance. Earnings per share are an important indicator for the investors. It has been observed that the earning per share has improved which indicate the company is performing well enough. Additionally, this positive indication will help in attracting more investment for the company. Cash Flow Statement Analysis Cash flow statement helps in depicting the cash position of the company. It includes the list of cash transaction for different activities such as investment activities, operational activities and financing activities. Cash flow statement is essential for fundamental analysis as it depicts how much actual cash has been generated by the company. Additionally, the cash flow statement analysis helps in understanding the potential of the company to pay for its operational activities and growth in future. This section will focus on analyzing the cash flow statement of Harvey Norman and the major elements will be compared in context of previous years performance. The following table demonstrates the important elements of cash flow statement for Harvey Norman for the last two years (Hirsch, 2000). Particulars Values are in '000 2013 2014 % change Net cash Flow from operating activities $ 239,217.00 $ 338,935.00 42% Net cash Flow from investing activities $ (208,181.00) $ (113,117.00) -46% Net cash Flow from financing activities $ (46,562.00) $ (235,213.00) 405% Net cash or cash equivalent at the end of the year $ 124,567.00 $ 115,172.00 -8% From the above table, it has been found that the net cash flow from operating activities of Harvey Norman has enhanced by 42% (Harveynormanholdings.com.au, 2015). It clearly indicates that the company has been undertaking its operational activities efficiently and it has been able to generate he positive cash flow from the operations. Hence, it can be stated that it has a positive implication for the company. Cash flow from investing activities record the activities associated with investments (Pavlovic and Bogdanovic, 2013). It has been found that the cash outflow regarding purchase of new equipments, plant etc was higher in 2013. Additionally, payments made for purchasing investment property for the company was higher in the previous financial year (Harveynormanholdings.com.au, 2015). Hence, it has been found that the cash outflow for investing activities was greater (Freedman and Jaggi, 2000). On the other hand, cash inflow due to sale of plant, equipments and some properties is g reater in 2014 in comparison to the previous year 2013. Thus the net cash out flow from operating activities has declined in the latest financial year (Hirsch, 2000). Cash flow associated with the financing activities majorly associated with activities of financing such as borrowing, loans, repayment of loans, interest paid etc. It has been found that the cash outflow associated with the financing activities of Harvey Norman has significantly enhanced in the 2014 in comparison to 2013(Hansen and Mowen, 2000). From the financial statement, it has been found that the company has to pay greater amount of dividend and had to repay higher amount in the latest financial year. Hence, the net cash outflow from financing activities has extensively increased. The net cash balance shown in the cash flow statement of a company indicates that the amount of cash or cash equivalent available to the company at the end of the financial year. In case of Harvey Norman, it has been found that the net c ash balance of the company in 2014 has declined by 8% from the previous year (Piao and Ni, 2011). Though the cash inflow from operating activities has significantly increased, cash outflow is significantly high due to the investing activities as well as financing activities. Hence, a decline in the net cash balance is observed in case of Harvey Norman in the year of 2014. Stockholders Equity The stockholders equity is indicated in the balance sheet of a company. in case of Harvey Norman, it has been found that the equity of stockholders has increased by 5.38% in 2014 in comparison to the previous year. It has a positive implication for the company however, it must be noted that higher value of stockholders equity indicates greater dilution of the ownership (Riahi-Belkaoui, 2001). Conclusion This paper has efficiently scrutinized the financial statement a public company, Harvey Norman which is listed on Australian Stock Exchange. It has been found that the company has achieved greater operational efficiency in 2014. The balance sheet analysis of the company indicates that the current asset as well as no current asset of the company has increased. On the other hand, short term and long term liabilities of the company has declined. It indicates that the company has not been permitted greater credit period and paying off its liabilities. Analyzing the income statement of the Harvey Norman, it has been found that the revenue of the company has enhanced which has a positive implication for the company. Additionally, expenditures regarding operational activities have declined which implies that the company has been able to achieve operational excellence. The cash flow statement of the company has implied that the net cash balance of the declined by 8%. The major reason behind the decrease in net cash balance is the high cash outflow due to financing activities and investment activities. Part B: Case Study 1. The organizers of Melbourne Tennis Open 2015, has decided to offer premium tickets of the Melbourne Tennis open along with the autograph of the popular tennis players which can be chosen by the customers. There are only 3,000 premium tickets to offer the customer. It has been decided that the retail price of the tickets will be $ 300 and the price of the tickets will be $ 280 for the tennis club members. These are the two alternatives available to the organizers of Melbourne Tennis open to recognize the revenue. I would recommend that the organizers must choose the retail price for selling the premium tickets as the revenue will be higher in this case. 2. Now, it is stated that the organizers of Melbourne Tennis Open 2015 are deciding to keep an option for returning the ticket if the customers are not happy with it. The customers will be able to return the ticket within one month from the date of purchase. In this situation, selection of the retail price will not be suitable for recognizing revenue. If the customers return the ticket there will be greater loss. Hence, choosing the mixture of two options will be suitable for the organizers of Melbourne Tennis Open 2015. For the tennis club members the ticket will be sold at $ 280 and for other price will be 300 dollars (Hirsch, 2000). 3. It has been assumed that a selling agent has been chosen and the organizers of Melbourne Tennis Open 2015 have entered into a contract with the agent. According to this contract, the selling agent will be responsible for taking care of all the marketing and selling activities. The selling agent will get commission at 10% of the sales. There will not be any policy for returning or exchanging. In this case, the organizers will recognize revenue at the time of sales and after paying the 10% of the price of ticket which is given to the sales agent as commission. 4. Accounting profession has the skill in order to provide a service for authenticating. Authenticating, authorization and accounting is the service provided by various organizations such as CISCO. Thus, the autographs of the popular tennis players given with the premium tickets can be authenticated with the aid of this service(Cisco, 2015). 5. Cost of goods sold helps in estimation of the cost of manufacturing the good or direct cost. Direct cost includes direct cost of material, direct labor and direct overhead. It has been observed that in case of manufacturing the cost of goods sold can be easily determined. However, in case of service, the direct cost is difficult to calculate. The reason is direct material, direct labor etc are not available in case of service. So, the component, cost of goods sold cannot be used in this case (Hansen and Mowen, 2000). 6. It has been assumed that the organizers of Melbourne Tennis Open 2015 have decided to pay a fixed fee to the tennis players whose signature will be put on the premium tickets. Now, it the question is when the organizers have to pay for it. At the time of agreement or at the time of getting the autographs, the organizers of Melbourne Tennis Open 2015 need to pay the fixed amount to each of the tennis players nominated for putting signatures on the premium ticket (Hirsch, 2000). 7. It has been stated that the organizers of Melbourne Tennis Open 2015 has decided to give 5% commission on the revenue to the tennis players who are giving their autographs on the premium tickets. The commission will be dependent on the value of sales for the tickets signed by each popular tennis player. Hence, it is clear that the expenditure regarding the commission paid to the tennis players will be realized at the end of the selling of tickets (Drury, 2004). References Cisco, (2015).Authentication, Authorization, and Accounting Overview [Identity Based Networking Services]. [online] Available at: https://www.cisco.com/en/US/products/ps6638/products_data_sheet09186a00804fe332.html [Accessed 5 Feb. 2015]. Drury, C. 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