Business Practice in Australia

Some rural communities will not have the same exposure to immigrants and international visitors, although the popularity of Australia as a budget traveler destination has affected that. Generally variety is accepted and people of many cultures will be seen in the workplace and are accepted. (Source 3) Source 3: Cultural Dimension and Concept Hoofed Background to Business in Australia Book Author: Egger The country is very large with smallest amount of population compared to land area though has equally states of USA relatively has a population half the size of California.Due to lack of domestic market in size compared to geographic isolation which means Australian business increasingly recognize the need of international market to ensure their future country income as well as well being of country. Indeed, a criticism that has been leveled against Australian business organizations has been their slowness to take up the challenge of international. Source 4) Thus, Australia finds itsel f needing to become ever more international in its outlook both economically and politically.The extremely successful economy is dependent upon trade with both the US and increasingly with key Asian countries such as China, Japan and India. Traditional British Commonwealth links have been declining in importance over several decades. ( Source 4) In short Australia is a small market with a highly educated, affluent population which realizes the importance of international trade – they are waiting to do business with you! ( Source 4) Australian Business Structures people do not give the impression that they ‘think they are somebody'.It is much better to be seen as a ‘good bloke' or a ‘good mate' than somebody who is overtly proud of themselves and their achievements. Australian business thinking is based on US business modeling where people would have conflict with influence to be slavish with others who are in favor of US style entrepreneurial. ( Source 5) Th ese dispute combination leads Australian organization to be fairly non-hierarchical in their structure. Attention is paid to titles and ranking with the organizations. Thus NY integration organization looking to set up operation in country should be well advised against their behavior of business structure.Similarly, do not be too surprised if Australian business contacts seem willfully disrespectful of hierarchy when working internationally – they are not being rude, merely acting in a consistent Australian manner. ( Source 5) (Source 4 & 5: Horticulturalists. Com/ Australian Business Structure. HTML) Australian Management Style It is believe in Australia that in work everyone is Just having different Jobs not as in terms of different position, therefore manages are not expected to see themselves as n any way superior to their colleagues.Such approach may provoke outright hostility. Challenging the idea of boss in open meeting is not at all consider as rude or disrespectful on contrary it is found as committed or an professional approach, therefore it is compulsory to adopt consultative style of management which is inclusive of person's opinions or an open debate of ideas. In keeping with the Australian direct style of communication, debates between senior and Junior executives may appear from the outside as confrontational and occasionally they rarely are.This style of interaction is merely viewed as the most acrimonious ? effective way of attaining the end goal. ( Source 6) Australian managers to not remain aloof from members of their team ? they usually want to be ‘one of the boys' and be seen as ‘a good bloke'. The idea of managers only socializing with other managers would be viewed as very affected and would be likely to result in alienation. ( Source & 6: Horticulturalists. Com/Australian Management Style) Australian Meetings Australian do considered punctuality as virtue, however meeting often start five or ten minutes late.In addit ion, it has tradition to go through few minutes of small talk fore getting down to serious discussion of meeting where sport is considered as common theme of discussions. Post planning culture is very well known in Australia prior to client facing meetings where little preparation is done before to attend such meetings. As an egalitarian approach, Australian are often set as an forum for open debate of an issue during meeting and found professional in doing so.Being ‘over- prepared' for meetings can result in certain negative feelings towards those who have prepared in advance as they can be seen to be trying to dictate and force their ideas on other people. If something important arises during the open debate it will not be excluded simply because it does not occur on the agenda. ( Source 7) Source 7 : Horticulturalists. Com/Australian Meetings Australian Team Australian looks for those who are very good as team player and has extreme importance according to their psyche wher e as Loner or invariable person not considered as good team person.Food and drinks are actively encouraged during make themselves out to be better than their colleagues in workplace does not make a good team player. A competitive edge should be directed towards the other am' (the competition) rather than being internally focused. ( Source 8: Horticulturalist. Com/ Australian Team) Australian Communication Styles Although Australia is resided with many different people from parts of world with over 100 languages being spoken by those population who have emigrated there, English is the official and by far most commonly spoken language.Directness is cherished in Australia and failure to say what you mean and mean what you say can be mistaken for evasiveness and even hypocrisy. ( Source 9) It is important not to be too self-promotional when presenting to Australians. A hard sell approach can often be misconstrued as bragging and can provoke a very negative response. Remember that people do not like to make out that they are better than others ? the same probably applies to products and services. A factual description of issues will be far better received than a more hyperbolic approach. Source 9) First names are invariably used in all business situations in Australia. It would be very unusual to call a business contact by their surname. Similarly, educational titles play relatively little part in business situations. (Source 9: Horticulturalists. Mom/Australian Communication style) Women in Business in Australia Women currently make up a large percentage of the workforce but as in many other countries are often found in lower paid and part-time Jobs. Whilst progress is being made, statistics will show that women are still paid comparatively less for doing the same Job as a man.On the other hand, women have made more progress in attaining managerial positions than in many other leading industrialists nations and more and more women are reaching the highest levels o f Australian organizations. (Source 10) :horticulturalists. Mom/ Women in business in Australia Australian Dress Code In corporate Australia, standard business dress is still very much the norm. Dark suits and ties are the standard dress for management level businessmen with women wearing business suits with either skirts or trousers.Remember that, for much of the year, Australia is a very hot country – so make sure that your clothing is lightweight and cool during those periods. Try to avoid excessive Jewelry and accessories which may be viewed as too ‘flashy' and therefore unprofessional. ( Source 1 1 : Horticulturalists. Mom/Australian dress code. HTML) Australian Etiquette & Customs ( Source 12) Meeting Etiquette Australians are not very formal so greetings are casual and relaxed. A handshake and smile suffices. While an Australian may say, ‘Giddy' or ‘Giddy, mate', this may sound patronizing from a foreigner.Visitors should simply say, ‘Hello' or ‘Hello, how are you? ‘ Gussies prefer to use first names, even at the initial meeting Gift Giving Etiquette Small gifts are commonly exchanged with family members, close friends, and neighbors on birthdays and Christmas. Trades people such as sanitation workers ay be given a small amount of cash, or more likely, a bottle of wine or a six-pack of beer! If invited to someone's home for dinner, it is polite to bring a box of chocolates are opened when received. Dining Etiquette Many invitations to an Gussies home will be for a ‘Barbie' (BBC).Guests to a barbeques typically bring wine or beer for their personal consumption. In some cases, very informal barbecues may suggest that you bring your own meat! Arrive on time if invited to dinner; no more than 15 minutes late if invited too barbeques or a large party. (Source 12: Kiss, Bow, Shake hand , Page 25-26) Successful Entertaining in Australia There is no great tradition for business entertaining in Australia and it ce rtainly shouldn't be viewed as the quick way to cement relationships with a new client or contact.In fact, you are more likely to be asked out for lunch or dinner once a firm relationship has been established – in this way the meal can in no way be seen to have influenced a business decision. People will very often ‘go Dutch' over a meal – this means that the bill is split equally amongst those present at the meal. If you wish to pay, make sure you make this clear before the meal to avoid any embarrassing abates when the bill is presented. ( Source 13) If invited to a pub or bar for a drink, it is very important to make sure you pay your ‘shout' – that means that everybody is expected to pay for a round of drinks.It is unadvisable to develop a reputation as someone who does not pay for his or her fair share of the drinks! Tipping is not always necessary but is usually expected at the better restaurants. Tips are usually for about 10% of the total bil l. (Source 13 : Worldliness culture website- Entertaining in Australia. HTML ) Appendix Source: World Business Culture -Australia/ Tips to live and to do business in Australia . Although Australia is relatively geographically remote and has a small domestic market, it is economically successful and its citizens have a comparatively high standard of living. . Due to its small domestic market, Australia needs to trade actively on the international market place and Australians know this – they are open to new ideas from overseas. 3. Australians prize their egalitarian approach to life- people should not try to make out that they are better than others. 4. This egalitarian world view is mirrored in many aspects of Australian business culture from corporate truckers to management and communication style. 5. On the whole, Australian hierarchical approach tends to sit uneasily in egalitarian Australia. 6.Managers try to develop a ‘mate' relationship with their colleagues and w ould be viewed negatively if they tried to seem aloof from subordinates. 7. Everybody expects to have an input into the decision-making process even if, in the final analysis, the boss still makes the decision. If the boss makes the decision with no prior consultation, it unlikely that people will be very keen to ensure implementation. 8. Decision-making meetings can e quite animated and it is expected that people will say exactly what they think without necessarily having to defer automatically to the boss' viewpoint. . Although Australians will say that they value punctuality as a professional necessity, do not be surprised if people appear five to ten minutes late for a meeting. 10. Some small talk is usually engaged in before the meeting proper starts. This stage of the meeting is, however, rarely protracted (five minutes or less. ) 1 1 . Australians tend to plan in less detail than certain other countries 12. The object of a meeting is often to explore the arioso possibilities available at that time, in order to determine what detailed actions may need to be taken after the meeting 13.Agendas are often produced at meetings but will not, necessarily, be strictly adhered to. Some deviation is allowed if it is felt to be constructive deviation. This is viewed as pragmatic. 14. Australians like to be viewed as good team players and will try very hard to play the role. 15. Teams are best managed by somebody who wants to be part of the team, rather than somebody who wished to be seen as apart from the team. 16. A team leader should IEEE themselves the ‘first amongst equals'. 17. Australians like people to say exactly what is on their mind.Hiding your views behind diplomatic language can be seen as evasiveness. 18. Never try to ‘hard sell' things to Australians who will probably view such an approach as bragging. Such an approach will invariably backfire in Australia. 19. Humor is an oft-used communication device in Australian business circles. It is difficult to envisage many situations where the use of humor would be deemed inappropriate. 20. Business attire in Australia tends towards the formal with suits ND ties the norm for men in management positions in major cities.Appendix II Australian Society & Culture Susie Modesty Australians are very down to earth and always mindful of not giving the impression that they think they are better than anyone else. They value authenticity, sincerity, and loathe pretentiousness. Australians prefer people who are modest, humble, self- deprecating and with a sense of humor. They do not draw attention to their academic or other achievements and tend to distrust people who do. They often downplay their own success, which may make them appear not to be achievement- oriented. Mates Australians place a high value on relationships.

New Century Financial Corporation Essay

Summary: the mortgage mess happened in 2008 when there was a decreased homing price. However, their mortgage payment by homeowners were soon greater than the price of house. As a result, they forced the repurchase policy of many mortgage agreements, and let the subprime lenders to take over their houses. Subprime lender like New Century became the bankrupt because of the high lost associate with the mortgage cancelation. To maintain earning, the management modify the estimate of its reserve. However, KPGM, the auditor of the New Century is question of their work. KPMG lost its independence due to its afraid of lost business. 1.The advantages include better understanding of the industry, lower cost because of the reduced amount of work on evaluate the industry, gain great profit when the industry is going up, and early recognition of the industry trend because of the shared information from different companies. The disadvantages include risk of loss profit when the industry go down, create a mind set of doing audit that can be bias, 2.They need to ensure the information gathered by the prior team is properly communicated and understand by the take over team. As a result, it results in the saving of the time and effort of the take over team to spend. It also gave the new team a different point of view as well as better understanding of the company. on the other hand, they also need to ensure the work quality of the taker over team will not be reduced. 3.Significant deficiency: A significant deficiency is â€Å"a control deficiency, or combination of control deficiencies, that adversely affects the entity’s ability to initiate, authorize, record, process, or report financial data reliably in accordance with generally accepted accounting principles such that there is more than a remote likelihood that a misstatement of the entity’s financial statements that is more than inconsequential will not be prevented or detected.† Material weakness: A material weakness is â€Å"a significant deficiency, or combination of significant deficiencies, that results in more than a remote likelihood that a material misstatement of the financial statements will not be prevented or detected.† SAS 112 requires the auditor to communicate control deficiencies that are significant deficiencies or material weaknesses in internal control. Significant deficiencies or material weaknesses must be communicated in writing to management and those in charge of governance–for example, to the audit committee of the board–no later than 60 days following the report release date. Unqualified Opinion can be issued when internal control over financial reporting is effective: no material weaknesses in internal control over financial reporting exist as of the fiscal year-end assessment date. 4.The procedures to audit important â€Å"accounting estimates† include :considering the relevance, reliability, and sufficiency of the data and factors used by management, evaluating the reasonableness and consistency of the assumptions, and re-performing the calculations made by management. 5.The GAAS require an auditor to exercise due professional care, to adequately plan its audit, to sufficiently understand a business’s internal structure, and to obtain sufficient evidence to reach reasonable conclusions. KPMG allegedly failed to adhere to the GAAS by having an inexperienced audit team,; failed to challenge New Century management for unreasonable estimates; failed to test the repurchase reserve despite evidence of internal control weaknesses and apparently inaccurate estimates of outstanding repurchase requests; and failed to raise deficiencies and inaccuracies in New Century’s accounting practices or internal controls. 6. Although the investors are complaining that they should be liable for the lost because they did not actively participate in the mortgage market. It is true that they did nothing wrong, but they need to identify this risk when they invest. Investor does not have enough information about the market trend that should be provided. As a result, they invest the money base on the outdated information. There is no way for them to identify the threat of their investment. 7.1) auditor need to maintain independence from their work, lose of independence can lead to a bias conclusion, which cannot be trusted upon. KPMG’s afraid to lost New Century as a client lead them to issue a report in favor of the management. 2) do not employ inexperience auditor, especially when the company is in its hard time. Inexperience auditor will cause mistake of their work. Company in hard time have a incentive to make fraudulent statement, and inexperience auditor are not able to detect them. 3) be aware when the company going down. The management may try to management the earning in order to meet estimates.

Meaning of Public Enterprises

MEANING OF PUBLIC ENTERPRISES As state earlier, the business units owned, managed and controlled by the central, state or local government are termed as public sector enterprises or public enterprises. These are also known as public sector undertakings. A public sector enterprise may be defined as any commercial or industrial undertaking owned and managed by the government with a view to maximize social welfare and uphold the public interest.Public enterprises consist of nationalized private sector enterprises, such as, banks, Life Insurance Corporation of India and the new enterprises set up by the government such as Hindustan Machine Tools (HMT), Gas Authority of India (GAIL), State Trading Corporation (STC) etc. CHARACTERISTICS OF PUBLIC ENTERPRISES Looking at the nature of the public enterprises their basic characteristics can be summarized as follows: A. State control:  The public enterprises are financed, owned and managed by the government may be a central or state governmen t.B. Rendering service:  The primary objective of the establishment of public enterprises is to serve the public at large by supplying the essential goods at a reasonable price and creating employment opportunities. C. Government Ownership and Management: The public enterprises are owned and managed by the central or state government, or by the local authority. The government may either wholly own the public enterprises or the ownership may partly be with the government and partly with the private industrialists and the public.Autonomous or semi-autonomous organization:  Public enterprise is an autonomous or semi-autonomous organization because some enterprises work under the direct control of the government and some organizations are established under statutes and companies act. D. Financed from Government Funds: The public enterprises get their capital from Government Funds and the government has to make provision for their capital in its budget, they become financially indepe ndent by arranging finance for day-to-day operation. E. Public Welfare: Public enterprises are not guided by profit motive.Their major focus is on providing the service or commodity at reasonable prices. Take the case of Indian Oil Corporation or Gas Authority of India Limited (GAIL). They provide petroleum and gas at subsidized prices to the public. F. Monopoly Enterprises:  In some specific cases private sectors are not allowed and as such the public enterprises enjoy monopoly in operation. G. Public Utility Services: Public sector enterprises concentrate on providing public utility services like transport, electricity, telecommunication etc. H.Public Accountability: Public enterprises are governed by public policies formulated by the government and are accountable to the legislature. The state enterprises are liable to the general public for their performances because they are responsible for the nation. I. Excessive Formalities: The government rules and regulations force the p ublic enterprises to observe excessive formalities in their operations. This makes the task of management very sensitive and cumbersome. J. A direct channel for use of Foreign money:  Sometimes the government receive foreign assistance from industrially advanced countries for the development of industries.These advances received are spent through public enterprises. K. Agent for implementing government plans:  The public enterprises run as per the whims of the government and as such the economic policies and plans of the government are implemented through public enterprises. DIFFERENCE BETWEEN PRIVATE AND PUBLIC SECTOR ENTERPRISES By private sector, we mean, economic and social activities undertaken privately by a single individual or group of individuals. They prefer to do business in private sector basically to earn profit.On the other hand public sector refers to economic and social activities undertaken by public authorities. The enterprises in public sector are set up with the main aim of protecting public interest. Profit earning comes next. Besides the difference in the objective, the enterprises in both these sectors also differ in many other aspects. In this section let us know the differences between the enterprises of public sector and private sector. Basis of difference| Private sector enterprises| Public sector enterprises| Objective| Maximization of profit| Maximize social welfare and ensure alanced economic development| Ownership| Owned by individuals| Owned by Government| Management| Managed by owner and professional managers| Managed by Government| Capital| Raised by owners through loans, private sources and public issues| Raised from government funds and sometimes through public issues| Area of Operation| Operates in all areas with adequate return on investment| Operates in basic and public utility sectors| FORMS OF ORGANISATION OF PUBLIC ENTERPRISES There are three different forms of organization used for the public sector enterprises in India.These are (1) Departmental Undertaking; (2) Statutory (or Public) Corporation, and (3) Government Company. Departmental Undertaking form of organization is primarily used for provision of essential services such as railways, postal services, broadcasting etc. Such organizations function under the overall control of a ministry of the Government and are financed and controlled in the same way as any other government department. This form is considered suitable for activities where the government desires to have control over them in view of the public interest.Statutory Corporation (or public corporation) refers to a corporate body created by the Parliament or State Legislature by a special Act which defines its powers, functions and pattern of management. Statutory Corporation is also known as public corporation. Its capital is wholly provided by the government. Examples of such organizations are Life Insurance Corporation of India, State Trading Corporation etc. Government Com pany refers to the company in which 51 percent or more of the paid up capital is held by the government.It is registered under the Companies Act and is fully governed by the provisions of the Act. Most business units owned and managed by government fall in this category. DEPARTMENTAL UNDERTAKINGS Departmental undertakings are the oldest among the public enterprises. A departmental undertaking is organized, managed and financed by the Government. It is controlled by a specific department of the government. Each such department is headed by a minister. All policy matters and other important decisions are taken by the controlling ministry.The Parliament lays down the general policy for such undertakings. FEATURES OF DEPARTMENTAL UNDERTAKINGS The main features of departmental undertakings are as follows: (a) It is established by the government and its overall control rests with the minister. (b) It is a part of the government and is managed like any other government department. (c) It i s financed through government funds. (d) It is subject to budgetary, accounting and audit control. (e) Its policy is laid down by the government and it is accountable to the legislature.MERITS OF DEPARTMENTAL UNDERTAKINGS The following are the merits of departmental undertakings:- (a) Fulfillment of Social Objectives: The government has total control over these undertakings. As such it can fulfill its social and economic objectives. For example, opening of post offices in far off places, broadcasting and telecasting programmes, which may lead to the social, economic and intellectual development of the people are the social objectives that the departmental undertakings try to fulfill. b) Responsible to Legislature: Questions may be asked about the working of departmental undertaking in the parliament and the concerned minister has to satisfy the public with his replies. As such they cannot take any step, which may harm the interest of any particular group of public. These undertaking s are responsible to the public through the parliament. (c) Control Over Economic Activities: It helps the government to exercise control over the specialized economic activities and can act as instrument of making social and economic policy. d) Contribution to Government Revenue: The surplus, if any, of the departmental undertakings belong to the government. This leads to increase in government income. Similarly, if there is deficiency, it is to be met by the government. (e) Little Scope for Misuse of Funds: Since such undertakings are subject to budgetary accounting and audit control, the possibilities of misuse of their funds are considerably reduced. LIMITATIONS OF DEPARTMENTAL UNDERTAKINGS Departmental undertakings suffer from the following limitations: (a) TheInfluence of Bureaucracy: On account of government control, a departmental undertaking suffers from all the ills of bureaucratic functioning. For instance, government permission is required for each expenditure, observanc e of government decisions regarding appointment and promotion of the employees and so on. Because of these reasons important decisions get delayed, employees cannot be given instant promotion or punishment. On account of these reasons some difficulties come in the way of working of departmental undertakings. b) Excessive Parliamentary Control: On account of the Parliamentary control difficulties come in the way of day-to-day administration. This is also because questions are repeatedly asked in the parliament about the working of the undertaking. (c) Lack of Professional Expertise: The administrative officers who manage the affairs of the departmental undertakings do not generally have the business experience as well as expertise. Hence, these undertakings are not managed in a professional manner and suffer from deficiency leading to excessive drainage of public funds. d) Lack of Flexibility: Flexibility is necessary for a successful business so that the demand of the changing times may be fulfilled. But departmental undertakings lack flexibility because its policies cannot be changed instantly. (e) Inefficient Functioning: Such organizations suffer from inefficiency on account of incompetent staff and lack of adequate incentives to improve efficiency of the employees. STATUTORY CORPORATIONS The Statutory Corporation (or Public Corporation) refers to such organizations which are incorporated under the special Acts of the Parliament/State Legislative Assemblies.Its management pattern, its powers and functions, the area of activity, rules and regulations for its employees and its relationship with government departments, etc. are specified in the concerned Act. Examples of statutory corporations are State Bank of India, Life Insurance Corporation of India, Industrial Finance Corporation of India, etc. It may be noted that more than one corporation can also be established under the same Act. State Electricity Boards and State Financial Corporation fall in this ca tegory. FEATURES OF STATUTORY CORPORATIONSThe main features of Statutory Corporations are as follows: (a) It is incorporated under a special Act of Parliament or State Legislative Assembly. (b) It is an autonomous body and is free from government control in respect of its internal management. However, it is accountable to parliament and state legislature. (c) It has a separate legal existence. Its capital is wholly provided by the government. (d) It is managed by Board of Directors, which is composed of individuals who are trained and experienced in business management. The members of the board of Directors are nominated by the government. e) It is supposed to be self-sufficient in financial matters. However, in case of necessity it may take loan and/or seek assistance from the government. (f) The employees of these enterprises are recruited as per their own requirement by following the terms and conditions of recruitment decided by the Board. MERITS OF STATUTORY CORPORATIONS Statut ory Corporation as a form of organization for public enterprises has certain advantages that can be summarized as follows: (a) Expert Management: It has the advantages of both the departmental and private undertakings.These enterprises are run on business principles under the guidance of expert and experienced Directors. (b) Internal Autonomy: Government has no direct interference in the day-to-day management of these corporations. Decisions can be taken promptly without any hindrance. (c) Responsible to Parliament: Statutory organizations are responsible to Parliament. Their activities are watched by the press and the public. As such they have to maintain a high level of efficiency and accountability. (d) Flexibility: As these are independent in matters of management and finance, they enjoy adequate flexibility in their operation.This helps in ensuring good performance and operational results. (e) Promotion of National Interests: Statutory Corporations protect and promote national interests. The government is authorized to give policy directions to the statutory corporations under the provisions of the Acts governing them. (f) Easy to Raise Funds: Being government owned statutory bodies, they can easily get the required funds by issuing bonds etc. LIMITATIONS OF STATUTORY CORPORATIONS Having studied the merits of statutory corporations we may now look to its limitations also.The following limitations are observed in statutory corporations. (a) Government Interference: It is true that the greatest advantage of statutory corporation is its independence and flexibility, but it is found only on paper. In reality, there is excessive government interference in most of the matters. (b) Rigidity: The amendments to their activities and rights can be made only by the Parliament. This results in several impediments in business of the corporations to respond to the changing conditions and take bold decisions. c) Ignoring Commercial Approach: The statutory corporations us ually face little competition and lack motivation for good performance. Hence, they suffer from ignorance of commercial principles in managing their affairs. MERITS OF GOVERNMENT COMPANIES The merits of government company form of organizing a public enterprise are as follows: (a) Simple Procedure of Establishment: A government company, as compared to other public enterprises, can be easily formed as there is no need to get a bill passed by the parliament or state legislature.It can be formed simply by following the procedure laid down by the Companies Act. (b) Efficient Working on Business Lines: The government company can be run on business principles. It is fully independent in financial and administrative matters. Its Board of Directors usually consists of some professionals and independent persons of repute. (c) Efficient Management: As the Annual Report of the government company is placed before both the house of Parliament for discussion, its management is cautious in carrying out its activities and ensures efficiency in managing the business. d) Healthy Competition: These companies usually offer a healthy competition to private sector and thus, ensure availability of goods and services at reasonable prices without compromising on the quality. LIMITATIONS OF GOVERNMENT COMPANIES The government companies suffer from the following limitations: (a) Lack of Initiative: The management of government companies always have the fear of public accountability. As a result, they lack initiative in taking right decisions at the right time.Moreover, some directors may not take real interest in business for fear of public criticism. (b) Lack of Business Experience: In practice, the management of these companies is generally put into the hands of administrative service officers who often lack experience in managing the business organisation on professional lines. So, in most cases, they fail to achieve the required efficiency levels. (c) Change in Policies and Managemen t: The policies and management of these companies generally keep on changing with the change of government.Frequent change of rules, policies and procedures leads to an unhealthy situation of the business enterprises. IMPORTANCE OF PUBLIC SECTOR ENTERPRISES  § Balanced Regional Development  § Boost the basic industries of an economy.  § Concentrate on public welfare activities.  § Promote exports  § Price control of essential goods  § Limit the influence of private monopoly.  § Ensure security of the country.  § Minimize the economic inequalities.

Nutritional Advice Essay Example | Topics and Well Written Essays - 500 words

Nutritional Advice - Essay Example BMI cannot be used for people with a high percentage of muscle mass. This implies that in order to stay healthy, the athlete can increase his or her weight above the normal BMI range provided that the mass that is gained come mostly from muscle gain instead of fat. Given all these, it can be easily deduced that the principle behind the athlete's nutrition program would be to prevent muscle wasting from intensive cardiovascular physical activity by providing energy sources that would spare the muscles, the body's protein from being utilized for energy; and to provide just enough energy for the body to build muscles without gaining much fat. Such is not as easy as it sounds. In order to be successful in gaining muscles, all the three energy sources must be critically controlled: Carbohydrate intake must be controlled only to the extent that all can be utilized for energy and not converted to fat; protein intake must only be limited to the needs of the body to prevent fat synthesis as well as body system complications that might arise (e.g. kidney failure); fat intake must be limited only to the needs of the body but not so much as to affect its other functions such as the synthesis of other body components (e.g. cholesterol and hormones) and the solution of the fat-soluble vitamins, A, D, E and K (Whitney, Cataldo, et. al. 92-196).

Henri Matisse, Femme au chapeau Term Paper Example | Topics and Well Written Essays - 750 words

Henri Matisse, Femme au chapeau - Term Paper Example The paper "Henri Matisse, Femme au chapeau" discovers Henri Matisse and his art. This is in the context of an intricate hat, with a fan firmly held by a gloved arm. There is a clear expression from the vivacious hue in Amelie’s costume. The painting was among the very first developments that came with bright colored canvases. These bright colors depicted Matisse from an expressive point of view. The picture was created from a style that widely involved the use of brushstroke in a non-regulated manner. He used this artistic work to mark his change from the highly expressive styles, into one that involved loose brushwork, synchronized with non-naturalistic colors. This phenomenon depicted an unfinished piece of work that was sketchy in nature. The new idea was a source of surprise to many. Woman with a Hat,’ gives a strong sense of fauvism. Fauvism as a culture and a style began its endeavors and operated within 1900 and 1910. Matisse was the leader of the fauvism movemen t along with a companion painter known as Andrà © Derain. Matisse began his fauvism endeavors at the Ambroise Vollard’s showcase back in 1904, but achieved minute success from his latter works. He then endorsed in expressive and bright colors, which came out well pronounced in his preceding paintings. These included controlled lines and flat shapes. His fauvism culture became eminent between him and his workmates, where he achieved his peak quest with this painting. Woman with a Hat,’ initiated the famous quote by the then critic.

Art History - Romanticism Essay Example | Topics and Well Written Essays - 1750 words

Art History - Romanticism - Essay Example The Romantic Movement featured phrases like romantic originality, romantic composers, romantic originality, romantic thinkers, and not limited to the romantic era. The definition of romanticism initiates with nature and irrationality. Romanticism freed individuals and art from the contemporary thinking of the mid 19th century and late 19th century, which was judgmental and restrictive. The following philosophers and writers greatly influenced the growth of the Romantic Movement, Jean-Jacques Rousseau, Johann Arthur Schopenhauer, Wolfgang von Goethe and Friedrich Wilhelm Nietzsche. These philosophers believed and emphasized on the fact that an individual’s emotions and feelings were fundamental in the process of searching for truth in the universe. Romantic literature as a form of romanticism stressed on the idea of the inner self, the dream and the intrinsic part of the individual. In romantic literature, the visionary and imaginary part of the individual was exposed this was contrary to the contemporary thinking, which blindly, focused on traditions. In romantic literature, the church faced a huge criticism since it was judgmental and restrictive. Individuals indulged in romantic literature since it brought them on the verge of exemplifying their inner feelings and experiences. The Romantic Movement allowed individuals and more specifically, artist to focus on what they perceived without guilt or facing criticism. â€Å"The sublime† was a strong phrase when it came to the practice of romantic literature.... Romantic literature Romantic literature as a form of romanticism stressed on the idea of the inner self, the dream and the intrinsic part of the individual. In romantic literature, the visionary and imaginary part of the individual was exposed this was contrary to the contemporary thinking, which blindly, focused on traditions. In romantic literature, the church faced a huge criticism since it was judgmental and restrictive. Individuals indulged in romantic literature since it brought them on the verge of exemplifying their inner feelings and experiences. The Romantic Movement allowed individuals and more specifically, artist to focus on what they perceived without guilt or facing criticism. â€Å"The sublime† was a strong phrase when it came to the practice of romantic literature as it included emotional experiences such as horror, awe and magnificence. The ultimate basis of romantic literature was the indulgence in emotions and feelings, as it was seen to be important than a nalysis and logical thinking. A further analysis reveals that in romantic literature senses were important that intellect. Romantic literature aimed at eradicating the premise that materialism, empiricism, rationalism and idealism was important than emotions, feelings and irrationality (Riou 156). 2 Romanticism and nature The world around us better known as nature was highly used in the romantic era to help in defining romanticism. Romantics embraced nature as a definite work of art. Romantics expressed that any reasoning or analysis regarding nature put across by traditional thinking was short of the transcendence that nature depicted in terms of

Corporate social responsibility focusing on Starbucks Essay

Corporate social responsibility focusing on Starbucks - Essay Example Starbucks is involved in many CSR initiatives ranging from philanthropy to service projects. The company is keen on enhancing ethical sourcing programs and environmental concerns. The organization has various NGOs and CSR programs which follow different ethical and social standards. In order to successfully achieve this, the company has developed an effective communication strategy that fits the needs of the various stakeholders. Organizations are increasingly being pressured by their environment to become social citizens while still being profitable. Rather than being a differentiation strategy, acting ethical and social responsibility has become an expectation. Organizations have to achieve legitimacy through responding to the expectations of the community. The company uses both online and multimedia communication features to address the expectations of the stakeholders. The company has suffered from stakeholder skeptism (Forehand and Grier, 2003). The company was accused of being unrealistic and extremely philanthropic. In order for the stakeholders to develop confidence, the company has increased transparency and decreased the chances of miss communication. The company ensures that there are no self-beneficial motives when carrying out the social responsibility and ethics program. In doing this, the company has stressed the need for engaging in the social issues that counter the skeptics from the stakeholders. Ethical/social issues targeting stakeholders Starbucks is sentient that its stakeholders have diverse prospects and requirements (Morsing and Schultz, 2006). The company has explicitly tailored its CSR program to meet these needs. Starbucks is using transparency and philanthropy to target the stakeholders. This includes supporting coffee farmers in Mexico and Ethiopia. The company has developed programs that emphasize on the long-term commitment to the CRS and ethics initiatives (Forehand and Grier, 2003). The shareholders of the leading organizations have been consistent in their shift from maximizing profits to increasing value. Companies have to balance people, planet and profit in a globalised market (Schwartz and Carroll, 2003). More power relies on the stakeholders to demand increased transparency and organizational communication. The stakeholders expect the companies to document and acknowledge their impact in the environment (Saksson and Jorgensen, 2010). The organizational ethical behaviors have come under sharp focus (Forehand and Grier, 2003). CRS is perceived to be a morally and ethically correct approach in which all the shareholders stand to gain. The modern corporations have a major part of their assets being the intangible parts i.e. the reputation, goodwill and human capita (Morsing and Schultz, 2006). Therefore, CSR approaches are significant for the achievement and legitimization of any successful corporation. Stakeholders perceive an organization based on the reputation and goodwill the company enjoys (Schwar tz and Carroll, 2003). For CSR initiatives in Starbucks to be successful, the corporate communication tools must be interpreted in the right ways (Forehand and Grier, 2003). The process of establishing and maintain the mutual relations between the public and an organization is crucial (Morsing and Schultz, 2006). Many organizations are facing a dilemma on how to handle stakeholders (Preble, 2005). Organizations have to achieve maximum profits and at the same time meet the demands of the stakeholders (Saksson and Jorgensen, 2010). The company has stressed on both economic and ethical motives while executing the CSR program. Analysis on multiple factors The ethical motives are salient and are emphasized through ethical organizations (Preble, 2005). Starbucks has to meet certain standards in its value chain. The strategic team of the company acknowledges that having a bad reputation has negative implications to the stakeholders