War Poets Research Paper Essay Example for Free

War Poets Research Paper Essay Wilfred Owen and Siegfried Sassoon are both considered two of the best war poets to ever write. These two poets actually possess many similarities with Sassoon being a great influence on Owen. With both of them being a part of World War I, that greatly motivated them to write poetry about the war. Neither one of them was very fond of being in the war. This led to them both writing poems of anger and distress towards the war. Both Owen and Sassoon had terrible experiences with war so one can understand where the anger they wrote with came from. Owen’s poems describe actions in the war and how awful and miserable he was as a soldier. Sassoon’s poems do not contain as much of an angry tone as Owen does in his but Sassoon does portray war as being totally negative with nothing good to say about it. Owen and Sassoon are very similar in that neither one of them are war friendly, they had tragedies that made them feel this way, and wrote poems of how they despised World War I. At the time Wilfred Owen was writing his poems, the world was in the middle of a war known as World War I. He considered the subject of his poetry during that time frame to be â€Å"the pity of war,† and sought to present the grim realities of battle and its effects on the human spirit. With a subject like this it was obvious that he was not a fan of the war and it shows in many of his poems. The motivation for him to write poems in such grueling detail of the war really shows his true feelings towards it. In his poem â€Å"Dulce Et Decorum Est,† he describes his account of war. In it he quotes â€Å"Men marched asleep. Many had lost their boots †¨But limped on, blood-shod. All went lame; all blind†¦Ã¢â‚¬  This clearly shows why he would have such hatred toward war. All throughout the poem he talks of how dismal he and other soldiers are and the terrible experience they had during war. In another one his poems â€Å"Anthem for Doomed Youth,† he speaks about the funeral of a young soldier. In the very last line of the poem he says that each slow dusk is â€Å"a drawing down of blinds.† This line in the poem describes the suffering that loved ones of the soldier endured during the burial. In this line Owen is kind of giving a warning that war is a stressful event and loved ones can be lost in the act of war.

Supply Chain Use Case Analysis Essay Example for Free

Supply Chain Use Case Analysis Essay The final assignment for the course is a Final Paper on two cases. The Final Paper should demonstrate understanding of the reading as well as the implications of new knowledge. The eight- to ten-page paper should integrate readings and course discussions into work and life experiences. It may include an explanation and examples from previous experiences as well as implications for future applications. Read the case study at the end of Chapter 15 and the case study at the end of Chapter 16, and thoroughly answer all the following questions. Supplement your answers with scholarly research using the Ashford Online Library. Each case study should be addressed in four to five pages, resulting in a combined Final Paper of eight to ten pages. Chapter 15 Case Study: The Realco Breadmaster 1. Develop a master production schedule for the breadmaker. What do the projected ending inventory and available-to-promise numbers look like? Has Realco â€Å"overpromised†? In your view, should Realco update either the forecast or the production numbers? 2. Comment on Jack’s approach to order promising. What are the advantages? The disadvantages? How would formal master scheduling improve this process? What organizational changes would be required? 3. Following up on Question 2, which do you think is worse, refusing a customer’s order upfront because you don’t have the units available or accepting the order and then failing to deliver? What are the implications  for master scheduling? 4. Suppose Realco produces 20,000 breadmakers every week, rather than 40,000 every other week. According to the master schedule record, what impact would this have on average inventory levels? Chapter 16 Case Study: A Bump https://bitly.com/12C3yhI It is important to remember that college is not all about studying. College is a significant step into adulthood and should be treated as such. While you should not party the night away, do not keep your nose in your books to the point that you do not get to enjoy this time of your life. Business General Business Focus of the Final Paper The final assignment for the course is a Final Paper on two cases. The Final Paper should demonstrate understanding of the reading as well as the implications of new knowledge. The eight- to ten-page paper should integrate readings and course discussions into work and life experiences. It may include an explanation and examples from previous experiences as well as implications for future applications. Read the case study at the end of Chapter 15 and the case study at the end of Chapter 16, and thoroughly answer all the following questions. Supplement your answers with scholarly research using the Ashford Online Library. Each case study should be addressed in four to five pages, resulting in a combined Final Paper of eight to ten pages. Chapter 15 Case Study: The Realco Breadmaster 1. Develop a master production schedule for the breadmaker. What do the projected ending inventory and available-to-promise numbers look like? Has  Realco â€Å"overpromised†? In your view, should Realco update either the forecast or the production numbers? 2. Comment on Jack’s approach to order promising. What are the advantages? The disadvantages? How would formal master scheduling improve this process? What organizational changes would be required? 3. Following up on Question 2, which do you think is worse, refusing a customer’s order upfront because you don’t have the units available or accepting the order and then failing to deliver? What are the implications for master scheduling? 4. Suppose Realco produces 20,000 breadmakers every week, rather than 40,000 every other week. According to the master schedule record, what impact would this have on average inventory levels?

Accounting Essays Management Accounting

Accounting Essays Management Accounting Current Issues in Management Accounting INTRODUCTION Accounting measures of performance have been the traditional mainstay of quantitative approaches to organizational performance measurement. However, over the past two decades, a great deal of attention has been paid to the development and use of non-financial measures of performance, which can be used both to motivate and report on the performance of business and other organizations. The impetus for such developments has come from both the bottom and the top of the organization. Much performance management at the operational level is carried out using specific indicators of performance, which are usually not measured in financial terms. At the most senior levels, although financial performance is inevitably a major consideration, there has been increasing recognition that other important factors in the effective running of the organization cannot be well captured by such measures (Neely 2002). Thus, non-financial performance measures have undergone significant development, to the relative neglect of the development of improved financial measures. However, the recent publicity surrounding the marketing of economic value added as an overall measure of company performance by management consultants can be seen as a sign of a new emphasis on the financial aspects of performance. It will be argued that there are three different major functions for financial performance measures, and that, although these functions overlap to some extent, major confusion can be caused by applying measures developed for one function to a different one (Neely 2002). Any organization, whether public or private, has to live within financial constraints and to deliver perceived value for money to its stakeholders. The role of the finance function is to manage the financial resources of the organization, and to ensure that the financial constraints it faces are not breached. Failure to do this will lead to financial distress, and ultimately, for many organizations, to financial failure or bankruptcy. Establishment of precisely what the financial constraints are and how the proposed operating plans will impact upon them are a central part of the finance function. There are three main areas of focus for financial plans. Most basically, cash flow planning is required to ensure that the cash is available to meet the financial obligations of the organization. Failure to manage cash flows will result in technical insolvency. For business organizations, the second area requiring attention is profitability, or the need to acquire resources at a greater rate than using them. Although over the life of an enterprise, total net cash flow and total profit are essentially equal, this can mask the fact that in the short-term they can be very different (Neely 2002). Indeed, one of the major causes of failure of new small business enterprises is not that they are unprofitable in the long term, but that growth in profitable activity has outstripped the cash necessary to resource it. The major difference between profit and cash flow is the time period between payments made for capital assets which will generate income in the future and the actual receipt of that income which is needed as working capital. This highlights the third area of focus, namely on assets and the provision of finance for their purchase (Neely 2002). Businesses need to know about their financial performance to access what are the things they are doing right. The paper takes a look at the two forms of accounting systems. The paper will also discuss on the concern towards the financial and management accounting’s linkage and such linkage drawing operating decision making into a short-term, narrow focus not supportive of the most effective operations. ACCOUNTING AND ORGANIZATIONS As instruments, financial statements can only provide representations of the phenomena that guide the decision-making processes of investors, creditors and other interested parties. The serviceability of these statements will be dependent on the extent to which they depict accurately the phenomena they purport to represent. This notion has been explained under a variety of guises in the accounting literature. Accounting is financial map-making. The better the map, the more completely it represents the complex phenomena that are being mapped. Financial statements may be viewed as descriptive accounts of the financial relationships between an entity and its environment from time to time, and changes in that relationship over time (West 2003). Accordingly, a system of accounting may be viewed as a model of the system of financial relationships between an entity and its environment. The function of the accounting system is, therefore, to represent the financial consequences of an entity’s actions and the financial consequences of the endogenous and exogenous factors which determine an entity’s financial status in relation to all other entities. When the laws underlying the accounting model have the same syntactical structure as a corresponding set of laws which govern the phenomena of financial position and financial performance, financial statements may be considered syntactically isomorphic with the actual financial position and financial performance of firms (West 2003). The consequences of faulty financial instrumentation may be severe. Where the decision-making processes of individual investors are misguided, economic inefficiencies with broader social repercussions are likely to ensue. To protect against these adversities, accounting, in common with other systems of instrumentation, needs to be subject to some form of governance or discipline. Consistent with this qualitative standards for accounting information have a long history. They appeared in early bookkeeping manuals and were written into the constitutive documents of commercial ventures and a variety of statutes in the United Kingdom during the eighteenth and early nineteenth centuries. Their purpose was to signify the duty to ensure that accounts were properly kept as a basis for representing the financial affairs of public bodies and business firms. rather than seeking to ensure that accounting information corresponds with the actual financial features of firms as at their date and that the function of accounting is therefore served there is evidence that the accounting profession has been, and continues to be, concerned only to ensure that financial statements have been prepared on the basis of prescribed technical accounting rules (West 2003). Were these rules to prescribe an effective system of financial instrumentation, they would provide the means by which the function of accounting would be better served. Accountants of the highest abilities and reputations are willing to give their considered opinion, after due examination, that the financial statements fairly present the position of a company based upon accounts determined in accordance with accepted principles of accounting. It follows that these fundamental truths upon which such opinion is based, and which may be properly dignified with the term principles, are known to the accountant and are matters with respect to which there can be no general disagreement (West 2003). Businesses use accounting as a method to know how they are performing and to see if there is a balance between what the company acquires and what the company takes out. The balance should be maintained so that a firm operates for a longer time. Accounting systems are said to have different forms o ne is financial accounting and the other is management accounting. The next discussion focuses on Financial Accounting. FINANCIAL ACCOUNTING Financial accounting and reporting is essentially a means to provide information. If information is to be useful, there must be uncertainty that can possibly be resolved by such information. To understand why accounting is useful at all, analyzing accounting information in the context of certainty would be clearly inappropriate. An information system provides signals that alter the likelihood of the occurrence of future events or states of the world that are part of a decision problem. A decision problem is characterized by states of the world, their probabilities, actions the decision-maker can choose, results of state-action combinations, and the utilities the decision-maker receives from such results. The usefulness of information can only be assessed in the context of a particular decision problem. Thus, the same information system may be useful in one context but not in another. General-purpose financial accounting and reporting is designed primarily to provide information to pe ople outside the firm, such as investors, creditors, and customers (Hopwood, Leuz Pfaff 2004). These parties are presumably interested in that information and rely on it for their own decision-making. The firm prepares the accounting information, and hence is better informed than the users. Further, some potential users of information have conflicts of interest with the firm. The information asymmetry generates concerns because it is not necessarily in the firms best interest to provide the information at all, or to provide it in an unbiased fashion. It is in such a context that disclosure and earnings management issues arise. Introducing an auditor as another player with asymmetric information and potential conflicting interests adds another layer of incentive issues to be considered. However, there are several features of financial accounting systems that make them peculiar information systems (Hopwood, Leuz Pfaff 2004). Accounting provides periodic information about the financial position of a firm. Accountants use accruals to provide information about transactions and events, not just cash flows. Accrual accounting allocates cash flows to particular periods under specific transformation rules. This information leads to the distinct accounting language, such as stocks and flows, assets and liabilities, and income. The transformation rules include the realization principle, which defines when revenue is recognized; the matching principle, which states that expenses follow the respective revenues; and conservatism, which introduces a bias in the reported income. Financial accounting and reporting is governed by standards or rules developed by standard-setters or legal bodies on a national or international level. The objective is to provide decision-useful information to the stakeholders of the firm (Hopwood, Leuz Pfaff 2004). Accounting information competes with other information sources, which are provided either directly by the firm or generated by intermediaries. To be valuable, the information must have a comparative advantage over other sources, or at least a complementary value. Indicators attesting that this is in fact the case are that investors and analysts usually generate earnings expectations and react to firms meeting or not meeting them, and that they also react to accounting scandals. Firms exert effort in managing earnings. These features make accounting reports a special and important information system. Useful models in financial accounting attempt to capture some of these features (Hopwood, Leuz Pfaff 2004). Financial accounting is focused on the financial issues of the company and it provides financial related information to internal and external people concerned with the company. The main focus of financial accounting is making sure that the stakeholders are given positive financial information. MANAGEMENT ACCOUNTING Many companies have turned to their management accounting systems to bypass the limitations of financial accounting. Some of them have developed best practices that give them a firm foundation for true accountability. However, many companies have not gotten beyond the crisis in management accounting that crept into place early in the century. That is, they use management accounting as not much more than a data-gathering device for determining product costs and compiling external financial accounts. Management accounts are driven by the cycle and procedures of financial accounting. The information is most useful for tasks like valuing inventory and aggregating costs across the company (Birchard Epstein 2000). It is an incomplete basis for measuring performance. Any company that has not radically changed its management accounting risks finding it produces problems similar to those created by financial accounting. The two most critical problems are prodding managers into, first, an incessant financial focus and, second, a near total reliance on historical, or lagging, indicators for decision making. The product and service costs that managers receive, the meat and potatoes of managerial accounting, often reveal little about the non financial factors of performance that create costs, like complex product designs or defective customer service. The cost data help managers keep the financial score but not necessarily how to improve their long-term batting average companies that depend on financial accounting and traditional management accounting systems are in crisis because they are missing the first element for making the accountable organization which is relevant and comprehensive measures o f performance. Without systems that extend beyond the financials to non financials and that accurately tally product costs, few managers or executives can deliver a maximum of value to shareholders, customers, or anyone else (Birchard Epstein 2000). Managers widely recognize the problem today. In a study 45 percent of companies said that their performance measurement system had a neutral to negative impact on long-term management. Whats more, respondents who reported the least satisfaction with their performance measurement systems used financials more intensely and used fewer non financials than did respondents who reported more satisfaction. Little surprise that 65 percent said most of their measures came from the current-year financial results. Measures have great power, almost like genetic code, to shape action and performance. Whether at the equivalent of the cell level, the organ level, or the systems level, measures become the directional device that influences or even dictates the shape of the enterprise. Change the measures, and you change the organism. Measures have always had the power to shape a corporations destiny, but the focus on financial figures alone limited their utility (Birchard Epstein 2000). Management accounting of the past forced managers to build world-class organizations and it is build with a truncated set of chromosomes. Today, though, with the help of revitalized cost accounting and non financial measurement, managers can develop a full set of instructions financial, operational, and social for the enterprise. Those instructions give them the capability to create accountability they never had before. The mark of the financially accountable organization has changed. Once upon a time, standard accounting measures like earnings per share were the gold standards of performance measurement. Traditional measures today, if used in isolation, raise a red flag. They signal to investors that managers may be reporting their performance reflexively as slaves to tradition, rather than as leaders of a well-wrought financial and business strategy (Birchard Epstein 2000). As a complement to financial accounting, companies make use of management accounting to check its performanc e and know which operating part of the firm they are not doing well. IMPROVEMENTS IN MANAGEMENT AND FINANCIAL ACCOUNTING There is mounting evidence that the deployment of digital technologies by organizations not only affects the economics of operational and managerial processes but also mobilizes extensive social and organizational effects. Digitization impacts the form, substance, and provenance of internal accounting information with attendant consequences on the behavior and actions of organizational participants and on the functioning of enterprises more widely. Knowledge about the influence of the deployment of digital technologies on management accounting thinking, processes, and practices is starting to take shape. As enterprises become increasingly concerned with the generation and the processing of digitized information relating to the production and delivery of physical and digital products and services, the challenge will be to sustain sufficient credence in the monitoring, measurement, and assessment of these altering organizational activities (Bhimani 2003). Trust is core in this regard. If it can be claimed that trust is becoming the most important asset in the digital economy then what comprises trust in internal accountings will likely see transformations. Novel accounting concerns centering on faith in numbers will once again emerge and contemporary control systems will no doubt continue to face calls for reforms. Accounting measures will seek to endanger trust in contexts where what is bought, sold, or produced never assumes physical form. Although service products have always evidenced such characterization, the means by which they are delivered have not ordinarily defied desired transparency or the potential for observation in the same way as digital processes. Counting based on observation or observations enabling evaluations to be made are not always amenable to operationalization in contexts where digital rather than physical transactions underpin enterprise activities (Bhimani 2003). Digital processes often evade physical verification, and established modes of enumeration and evaluation will therefore likely come under question. How far accounting information can be trusted is not subject merely to the development of more rational forms of capturing the economic consequences of organizational activities resting on digital processes. Human interpretations of the significance of deploying digital technologies and their representation in economic terms are also a relevant issue. Alterations in the capture and reporting of information as well as the changing nature of the product that is to be reported upon within digitized organizational contexts will likely have behavioral implications worthy of study. Behavioral accounting research which has traditionally documented similarities and variations in the uses and impacts of accounting information on individuals will raise new concerns, questions, and issues (Bhimani 2003). At the individual level, digitization will affect the type of accounting information being reported as well as the manner in which it is used and the resulting consequences. The rise of digitization which may in part occlude the transparency of organizational affairs, will impact on pressures to portray management accounting work as being technically and internally legitimate. This will prove particularly pertinent in the near future given that, in the recent past, the accountants credibility in public accounting functions has been tarnished. Just as consumers rely on brands to guide their choices as product diversity and complexity grow, and as barriers to entry in many markets drop, so the linkage between the managerial task and the know-how of internal accountants will be shaped by the credibility which management accounting can engender within enterprises. The management accountant will need to project not simply traditional professionalism but the constitution of a digitally cog nizant person. This person must have an appeal to digital spaces in representation of managerial tasks and which combine simulation with traditional reality as well as corporate legitimacy (Bhimani 2003). Just like any other concepts accounting has developed and it became adaptable to the changes in the environment. The digitization of accounting creates a better chance for more accurate information that will prove to be vital for organizations. CONCERN TOWARDS THE LINKAGE Fry, Steele, and Saladin 1998, stated that accounting systems take two forms, management accounting and financial accounting, and can be tightly linked. However, the functions of these two forms of accounting are quite different: management accounting is focused on monitoring and analyzing the effect of management decisions, financial accounting is focused on short-term, external reporting. The concern is that this linkage is drawing operating decision making into a short-term, narrow focus not supportive of the most effective operations. For Fry, Steele and Saladin they have doubts that the two forms of accounting are not used together by companies and decisions are focused only on one form of accounting. In the previous discussions it mentioned that companies use both forms of accounting to make decisions and create strategies. Companies cannot completely disregard the information that are acquired by using the financial and management accounting. The information acquired has a rel ation and are useful in determining the next actions for the company. The linkage between the two forms of accounting does not create a short term focus and it does not create a situation wherein there is no support for effective operations. The linkage between the two creates a better outlook on how a certain problem can be solved and it helps in discerning the effective actions a company should take. CONCLUSION Businesses need to know about their financial performance to access what are the things they are doing right. Businesses use accounting as a method to know how they are performing and to see if there is a balance between what the company acquires and what the company takes out. Financial accounting is focused on the financial issues of the company and it provides financial related information to internal and external people concerned with the company. As a complement to financial accounting, companies make use of management accounting to check its performance and know which operating part of the firm they are not doing well. There is said to be a linkage between the financial and management forms of accounting. This linkage is also said to create a short term, narrow focus that is not supportive of effective operations. The linkage between the two forms of accounting does not create a short term focus and it does not create a situation wherein there is no support for effective operat ion, it provides better decisions to be done and a better focus for a firm. REFERENCES: Amernic, JH Robb, S 2003, Quality of earnings as a framing device and unifying theme in intermediate financial accounting, Issues in Accounting Education, vol. 18, no. 1, p. 5. Bhimani, A 2003, Management accounting in the digital economy, Oxford University Press, Oxford. Black, T Gallagher, L 2004, Are physical capacity constraints relevant? : applying Finance-Economics theory to a management accounting misconception, Australian Journal of Management, vol. 24, no. 2, pp. 143. Birchard, B Epstein, MJ 2000, Counting what counts: turning corporate accountability to competitive advantage, Perseus Books, Cambridge, MA. Fry, TD, Steele, DC Saladin, BA 1998, ‘The use of management accounting systems in manufacturing’, International Journal of Production Research, vol. 36, no. 2, p.503-525. Hopwood, A, Leuz, C Pfaff, D (eds.) 2004, The economics and politics of accounting: international perspectives on research trends, policy, and practice, Oxford University Press, Oxford. Neely, A (ed.) 2002, Business performance measurement: theory and practice, Cambridge University Press, Cambridge, England. West, BP 2003, Professionalism and accounting rules, Routledge, New York.

The Accounts Of Eros In The symposium Essay -- essays research paper

The Accounts of Eros in the "Symposium" The word love carries with it many, many different interpretations. In modern day, our views on what is appropriate love is much different from the views from the time of Socrates and Plato. To them love was eros, a direct translation of the word love. However, the word itself wasn't the only thing that was different about love. In Plato's "Symposium", there is a celebration for Agathon. He had just won a dramatic contest in Athens, Greece two nights ago. It is customary to drink much wine at these gatherings, however, every one present is too weak from the night before. (Nehamas & Woodruff, pg. xiii) So a proposition is made, by Phaedrus, to properly give praise to the god Eros, and speak on the topic of love. It was their opinion that no poet has yet been able to properly do so. (Nehamas & Woodruff, pg. 7) There were a total of seven accounts given in praise of eros, by seven different people who are present at the party. Of these accounts, the one that made the most sense was the speech of Socrates when he quotes Diotima. This account is practical, and shows love not as a heavenly creature, but as a mortal being, where we can interact with him. It also has answers that most of the other accounts could not even question. This is what stands the speechof Socrates and Diotima apart from most of the others. But, there were two other speeches that were also impressive and brought about points that Socrates did not make. These accounts were given by Aristophanes and Agathon. Through these three speeches, we can get a good picture of what eros is. Starting with the most complete account: Socrates and Diotima; and moving through Aristophanes and then Agathon, this paper will show why these accounts are superior, and why Socrates' makes the most sense. After Agathon's speech, it was Socrates' turn to present his account of eros. But before he does, he tells Agathon that his speech was marvelous and that at one time, Socrates also believed in what Agathon believed. That was until a women named Diotima taught him the real truth in eros. It is however, believed, that Socrates made up the character of Diotima, the reason, though, is unknown. In spite of this, Socrates gives a remarkable speech that is truly complete. One of the first misconceptions among all the speakers was the age of the god Lo... ...s right to them, may not seem correct to us, and this is a problem that arises with Agathon's speech. In the times of Socrates and Plato, eros was a much different word then it's translation: love. He have seen how love takes the shape of a god, and how it has influenced the evolution of human kind. In the "Symposium", Socrates gives the most sensible account of eros when he quotes Diotima , even though to this day, it is unclear whether Diotima was a fabrication to fit Socrates' needs when discussing love. The speech of Aristophanes was also worth noting, as he had brought up the point of human nature, the only speaker to do so. As well, Agathon had a very complete speech, he chose to describe the god Love in terms of his moral character and his virtues. These three accounts were the best of all that were offered. Socrates was the superior one to the other two, but nonetheless, the speeches of Aristophanes and Agathon were complete. Together, these three accounts form a very good picture of eros, one that shows every aspect of what eros truly is. Bibliography Nehamas, A. & Woodruff, P. "Symposium", Hackett Publishing Company, Indianapolis, Indiana, 1989

Homework :: Teaching Education

Homework Is it not amazing that in today’s society students must not only spend seven hours in school doing work, but then they must go home to spend another five or six hours doing homework? Their grades are not improving enough to make a difference, and they are becoming extremely unhealthy. Not only does the average student suffer from sleep deprivation but many times malnutrition and emotional breakdowns. These are all caused by the over assigning of homework outside of school. How much homework is there really? Some say that for every hour spent in class a high school student should spend at least and hour doing homework and studying for that particular class. Well considering that a student would have to wake up by 6 a.m. and does not get home until around 2:30 p.m. there just are not enough hours in a day. Seven hours of school would be seven more hours out of school this would mean that if the students came home from school, they would have to works non stop from 2:30 p.m. until 9:30 p.m. every day. This may not seem bad until a person realizes that in today’s world, the average student has at least one or two activities a week. The students may not be home until 5:00 or 6:00 in the evening, if not later and then would be required to stay up until 1:00 a.m. doing homework. This is ridiculous. This homework causes sleep deprivation; without sleep it is almost impossible for the body to function. A student could easily become ill. With only five hours of sleep, a student is less likely to wake up in the morning, causing many tardies in school. If the students become sick they will miss even more school and the makeup homework will begin to pile up. This makeup work adds hours to the regular work. Eventually the student will become so tired and ill that the stress will become unbearable. The average teenager in the year 2000 is already subject to extreme stress. This stress exemplifies with sleep deprivation and illness. Stress is an amazingly powerful thing. Any student can become stressed but with more and more homework begin added into everyday schedules, the stress factor can increase severely, causing students to become tired, irritable, ill, depressed, and even to have emotional breakdowns.

Environmental Analysis: Southwest Airlines Essay

INTRODUCTION Southwest Airlines Co. began its operations in 1971 and has been serving the industry for the past 43 years now (Southwest Airlines, n.d.). It is the major domestic airline, and ranked number one in 2014 by the Bureau of Transportation Statistics (United States Department of Transportation, 2014). Back in 1971 the airline began its services in Texas in the cities of Houston, San Antonio, and Dallas. The company has been ranked as the nation’s largest low cost carrier (Mergent, 2012). It offers the lowest fares, and has the lowest cost structure in the industry. Southwest Airlines Co. also acquired AirTran Holdings Inc. in 2011 and now owns AirTran Airways. The company has been ranked 9th among the 50 most admired companies in the world according to a survey by Fortune magazine (Fortune Magazine, 2013). Southwest uses the exchange symbol LUV on the New York Stock Exchange (NYSE). This paper will summarize an environmental scan of Southwest Airlines to include an analysis of the most important external environmental factors in the remote, industry, and external operating environments, the most important strengths and weaknesses of the organization, an assessment of the company’s competitive position, and analyze the structure of the organization and how this affects organizational performance (University of  Phoenix, 2013). POLITICAL FACTORS The Airline and Aviation industry underwent Governmental Regulations by the passage of the Civil Aeronautics Act of 1938 and the simultaneous creation of the Civil Aeronautics Board (CAB). This Act enabled the CAB to control the service fares, the entry of new airlines from the market and the exit of existing airlines from the same, and the assigning of air routes to different airlines. Then the Federal Aviation Act was passed in 1958 and led to the formation of the Federal Aviation Administration in August 1958. The rule making was shifted to the FAA and it had control of the air routes, the airline safety and air traffic controls. The Airline Deregulation Act was passed in 1978 and falls in the category of Federal Law. It eliminated the governmental authority over determination of service fares and control of routes and new airlines entry into/exist from the airline industry. As a result of the act, the CAB was dissolved in 1984. The FAA was not eliminated and it remained in control of airline safety and air traffic control (United States Government Accountability Office, 2006). This Amendment came into force in 1979 and comes within the category of federal law. It manages the air traffic at Dallas Airfield in Texas. Initially, this amendment posed such restrictions on nonstop flights that their routes got limited to Texas and its neighboring states only. However, the restrictions were taken off in 1997 and 2005. The Amendment was revoked in 2006 but some restrictions will expire in 2014. Soon after the passage of the Airline Deregulation Act of 1978, Southwest was about to begin interstate flights. But restrictions were imposed by the Congress and the airline was disqualified to ticket/operate flights beyond Texas and the states touching its borders. ECONOMIC FACTORS A number of economic constraints are also there in the environment that have their relative impacts on Southwest’s operations. These include: Higher unemployment rates, which Southwest had been challenging by refusing to lay off employees even during surging unemployment. Increase in operating costs. Instable credit market and capital market. Declining demand for air travel. Economic Recession in the country (Southwest Airlines, et al., 2013). SOCIAL FACTORS Social factors influencing performance include an increase air pollution caused by the airline industry as a whole; gases are emitted in upper atmosphere causing an increase of around three percent of greenhouse emissions globally. Also, fuel efficiency has increased significantly from the past three decades. The airline industry has been divided into labor unions which include several types of unions such as the Flight Attendants’ Unions, the Machinists’ Unions, and the Pilots’ Unions. The majority of the employees are part of such unions which has led to an increase in labor costs for the entire airline industry. TECHNOLOGICAL FACTORS Fuel efficiency is increasing. Aircrafts that are more fuel efficient are being developed and the engines are being redesigned to cater to this change. The Air Transportation System has been reformed by the introduction of the Next Generation Air Transportation System (NextGen). This system is supposed to be implemented in the country by 2025. The system revises air routes and updates it to satellite system management; the promotion of usage of GPS technology for navigation, route length shortening, time reduction, and fuel saving, etc. The JPDO (Joint Planning and Development Office) has been setup to facilitate the development of NextGen. Apart from that, the tracking system has been  updated and routes have been improved significantly. Airline forecasting and algorithms have allowed improvements in prices and costs for airlines in the industry. The average age of an aircraft in the industry is around 13 years. The market is expected to grow and revenues are likely to increase. HOW SOUTHWEST SHOULD CONFRONT THESE THREATS Southwest should take active measures to deal with all the above measured threats. To combat with political threats of regulation, the Shelby agreement does help by providing expansion in a few routes. However, they are still less and the routes and areas served need to be expanded. Some sort of agreement should be made for that. To deal with its economic threats, Southwest is already implementing fuel cost saving strategies. It has already reduced its fares for the passengers, which provides it with a competitive edge. Southwest has adopted a no-layoff policy with reference to its employees, in the face of high unemployment rates. Therefore it should work to control and ultimately minimize its operating costs. To deal with the social issues present in the industry, careful negotiations and dealings with the various kinds of unions should be done. Environmentally safe emissions of gas should be reviewed as well as alternate sources of energy. Technology is increasing in the industry. Southwest needs to be able to afford the latest technology so that it could offer superior quality of service than its competitors. SOUTHWEST’S STRENGTHS Southwest Airlines has a number of strengths. It uses the inner city airports and focuses on point-to-point service, which reduces the connections and facilitates nonstop routing. That resultantly reduces the total flight time. This makes it easier for Southwest to charge low flight fares for its passengers. The airline also serves downtown airports including Houston Hobby, Chicago Midway, Dallas Love Field, Burbank, Oakland, San Jose, Manchester, Baltimore-Washington International, Hollywood, Long Island Islip and Providence airports. This way the airline can make good use of its assets and perform on time and be reliable. That ultimately shows up as an increase in market revenue (MarketLine, 2012). The company has also employed successful advertising methods. It has reduced its  overall operating costs and has been profitable for 36 consecutive years. It is known in the airline industry as being the best low cost carrier. SOUTHWEST’S WEAKNESSES Contractual obligations associated with the purchase of future aircraft, debt payment, and leasing arrangements resulted in a lowering of the companies’ credit rating in 2009. This has affected the company’s ability to secure future financing (Tellex, 2012a). With increased technology, fewer companies are dependent on face-to-face meetings resulting in a lower demand for business travel. Reappearing downturn in the economy have also reduce the amount of those who travel for leisure. The subsequent result in the overall decrease in travel is lower profit margins for the company (Tellex, et al., 2012b). The company continues to rely heavily on revenue generated by passenger travel, earning only one percent of its revenue through the transportation of freight and cargo. Considering that passenger travel is heavily dependent on price, fluctuations in fuel and security costs can expose profits to volatility (Tellex, et al., 2012c). The airline has always maintained a conservative growth strategy. It needs to develop a more aggressive, robust business plan in order to keep up with other industry leaders in the modern economy. The company is currently limited to approximately 68 cities domestically and relies heavily on one aircraft manufacture (Boeing) to produce its fleet (Tellex, et al., 2012d). MAIN COMPETITOR One of the major competitors to Southwest Airlines is Delta Airlines, which is headquartered in Atlanta, Georgia, U.S. It has a few significant weaknesses such as the legal issues it has recently faced (including 2009’s antitrust lawsuits) that have had their impact on the company’s brand image. Also, the company is heavily indebted. In Fiscal Year 2011, the company had a long term debt of $11,233 million, and in FY2010 it was $12,553. The interest expense was also very high. That is why it is more  prone to recession and because of this financial depression it is also unable to acquire additional funds. That has become a threat to its liquidity. The company also faces increasing fuel costs, competitive threats, and extensive governmental regulation (MarketLine, et al., 2012). While it is difficult to combat governmental regulation, Southwest Airlines can build upon Delta Airline’s weaknesses, because it has remained profitable and has also become fuel efficient in the recent past. Also, the company has been successfully able to reduce its overall cost structure and provide high customer service, which is why it is amongst the top ranked airlines in the industry. This automatically creates value for the stakeholders. SOUTHWEST’S COMPETITIVE STRATEGY The company follows a low-cost competitive strategy by offering low fares to its customers which happen because it has been able to reduce its operating costs. It focuses on inner city airports such as the Dallas Love Field. To minimize costs, Southwest doesn’t provide meals in flights. It also uses Boeing 737 aircrafts which are technologically more fuel efficient. This makes its ranking high in customer services as compared to other airlines in the industry. RECOMMENDED MODIFICATIONS TO SOUTHWEST’S STRATEGY Assuming that the United States economy is undergoing a downturn, Southwest Airlines will need to make a few amendments to its strategy. These include improving its cost efficient structure and maintaining its existing customer base as well as begin providing healthy meals on an economical basis without increasing the flight fares too much. It should focus on what it does best and also build upon its competitive edge of excellent customer service. That way it would be able to combat the effects of an economic downturn, partially or completely. IMPACT OF GLOBAL COMPETITION ON SOUTHWEST’S STRATEGY If viewed from a global perspective, the company needs to make several revisions to its competitive strategy. Although Southwest has a competitive edge in the local industry because of its low fares and low cost structure, to be able to face global competition, the company needs to begin serving more routes, as the number of routes it serves currently is making it seem like a competitive disadvantage for the company. Also, the company should utilize its profits for the provision of healthy quality meals. An overall improvement in the operations should also be considered. ORGANIZATIONAL STRUCTURE AND PERFORMANCE Perhaps the most important element of Southwest Airline’s success is the company’s decentralized organization structure. The airline places a limited emphasis on organizational structure allowing employees and management committees to make decisions. The company’s policies are developed by combining employee input and measuring all decisions against its own code of ethics. The company continuously demonstrates its ability to develop relationships through the formation of cross-functional teams that share goals and knowledge and build a mutual respect for one another rather than blaming. â€Å"Focus on relationships is the fundamental driver of leadership, culture, strategy, and coordination at Southwest† (Gittell, 2003, p. 177). Southwest defines leadership as a process that can occur at any level of the organization but is most productive on the front lines. Supervisors assume a position of servitude to their subordinates going beyond the traditional responsibilities of that role. Employees are viewed as internal customers who deserve nurturing and training. The company intentionally distorts the lines between work and personal lives to enhance family and community relationships. The end result of such an organizational structure is improved flight departure performance, faster turnaround times, greater staffing productivity, fewer lost bags, and fewer customer complaints (Gittell, 2003). CONCLUSION Since its inception in 1971, Southwest has continuously distinguished itself from other airlines in the industry. For 41 consecutive years, it is the only airline to sustain a profit. The company’s organizational structure reflects its commitment to customers and employees alike. The benefits of this commitment have established the company as the benchmark for the industry in terms of loyalty and customer/employee satisfaction. Rankings such as number one in air transportation (United States Government Accountability Office, et al., 2006), number nine in _Fortune’s Most Admired Companies_ (Fortune Magazine, et al., 2013), and number 12 on _Forbe’s Best Companies to Work For In 2013_ (Forbes, 2013) also provide testament to the success of the company’s business strategy. In order to sustain this level of success in the long-term and remain competitive within an industry that already has limited flexibility created by an unusually large amount of fixed costs, federal and union regulation, manufacturer dependency, and economy. The company must give consideration to developing a more transformational model. Fortunately for Southwest, the company has no need to reinvent itself. However, this model should include an cost-effective approach to fleet expansion and additional freight and cargo transportation services to generate more revenue while retaining their proven formula for organizational structure and customer service. References Forbes. (2013). _The 25 Best Places to Work in 2013_. Retrieved June 8, 2014, from Forbes: http://www.forbes.com/pictures/efkk45eddil/no-12-southwest/ Fortune Magazine. (2013). _World’s Most Admired Companies_. Retrieved June 8, 2014, from Fortune: http://fortune.com/worlds-most-admired-companies/southwest-airlines-9/ Gittell, J. (2003). _The Southwest Airlines Way: Using Power of Relationships to Achieve High Performance._ New York: McGraw-Hill. Retrieved June 8, 2014 MarketLine. (2012, December 21). _SWOT Analysis_. Retrieved June 8, 2014, from MarketLine: http://advantage.marketline.com/PageForbidden?returnUrl=%2FProduct%3Fpid%3D345D3B5B-CDC8-4F13-AD68-8D79064FB08A%26view%3DSWOTAnalysis Mergent. (2012, Decemeber 14). _Company Detail: Southwest_. Retrieved June 8, 2014, from Mergent Investor Edge: http://www.mergentinvestoredge.com/companyDetail.php?compNumber=7750&companyName=Southwest%20Airlines%20Co&ticker=LUV&cik=0000092380&pagetype=detail&exchange=NYS&country=USA# Southwest Airlines. (2013, December 31). _LUV Investor Relations_. Retrieved June 8, 2014, from 2013 Annual Report: http://southwest.investorroom.com/company-reports Southwest Airlines. (n.d.). _Company Profile_. Retrieved June 8, 2014, from LUV Investor Relations: http://southwest.investorroom.com/ Tellex, T. (2012, March 20). _Southwest Airline SWOT Analysis_. Retrieved June 8, 2014, from Exploring the World of Business: http://www.tamaratellezmba.com/blog/2012/03/20/southwest-airlines-swot-analysis/ United States Department of Transportation. (2014, May 15). _Airline Traffic Data_. Retrieved June 8, 2014, from Bureau of Transportation Statistics: http://www.rita.dot.gov/bts/press_releases/bts024_14 United States Government Accountability Office, (. (2006). _Airline Deregulation._ United States Government Accountability Office. Retrieved June 8, 2014 University of Phoenix. (2013). _STR/581 Week 3 Individual Assignment: External and Internal Environmental Analysis_. Retrieved June 7, 2014, from

Corporate Veil

Introduction The main concept in the assignment is about corporate personality. First of all, we need to clarify the meaning and characteristics of company. In short, company means a body of persons combined for a common object. A company exist there must be a group of persons that more than 1 persons. In eyes of law, a company is a separate legal personality from its members. In Section 16(5) CA1965, it stated that a body corporate obligations and liabilities are its own, and not those of its participation; it can sue and be sued in its own name; the property is not the property of its participants; and company can enter into a contract. Whilst, we need to understand the types of Joe’s company belong to. In section 16(4), it stated that company divided into 4 types that are limited by shares, limited by guarantee, limited by guarantee and shares and the last one was unlimited companies. While Joe’s company belongs to company limited by shares, it means that member’s liability is limited to unpaid amount on the shares taken up by them, it stated in section 18(3) CA 1965. From the whole assignment, we need to identify whether corporate veil can be lifted in the particular situation. So, we need to obtain an understanding what is corporate veil. Corporate veil it can define as separates company from its members, or we can say that legal person (company) separate from its members. Since company is a separate entity with its members, the company has power to hold land, enjoys perpetual succession even the death of one of its member, the company will not dissolve. Next, we going to identify in what situation corporate veil will be lifted. Lifting the corporate veil it means that separation between company and its participants does not exist anymore. The court will lift the corporate veil when controllers behave some unethical behavior, or controllers concern about their interest much more than other parties’ interest. Corporate veil may be lifted either by the courts/case law or by statutory. Under case law it can be divided into 6 different categories, it shows as below: i. Fraud It means individual used the separate legal entity to do something forbidden from doing to avoid from legal obligation. ii. Agency It means authority or capacity of one person to create legal relations between a person occupying the position of principle and third parties. ii. Group of companies Group of companies means that corporate group structure; corporate veil is lifted to treat the parent company as liable for the acts of the subsidiary. iv. Single economic entities It means each company in a group of companies is a separate legal entity possessed of separate rights and liabilities v. Tax evasion Company trying to reduce tax by inter tran sfer their assets between subsidiary vi. Tortious claims It means allows lawsuits by people who claim that they have been harmed by wrongful acts, including negligence by government agencies or their employees. Under statutory, i. Section 36 Company Act 1965 By this section where the number of members of a company falls to one and the sole remaining member knowingly carries on business for a period longer than six months, he will be personally liable for the debts incurred after the first six months. ii. Section 121(1) & (2) Company Act 1965 By this section where an officer signs on behalf of the company, a cheque, promissory note etc, and the company’s name is not properly stated therein, he will be personally liable to the holder of that bill etc, if the company does not pay. ii. Section 67 Company Act 1965 A company cannot give financial assistance directly or indirectly to any person to purchase its own shares. iv. Section 169 Company Act 1965 Directors of a holding company are required to produce group accounts in which the assets, liabilities, profit and losses of the group as a whole are reflected. v. Section 140 Income Tax Act 1967 By this section the Director General of Inla nd Revenue may ignore any transaction or disposition which has the effect of avoiding or evading tax. vi. Section 365(2) Company Act 1965 If a dividend is paid when there are no profits available, every directors and manager of the company who willfully paid or permitted the payment of dividend is guilty of an offense. vii. Section 303(3) Company Act 1965 In the course of a winding up, it appears that an officer of a company who was party to the contracting of a debt had no reasonable expectation that the company would be able to pay the debt, the court may declare that the officer be liable for the payment of the whole or part of the debt. iii. Section 304(1) Company Act 1965 If in the course of a winding up it appears that the business of a company has been carried out on with the intent to defraud creditors or for any fraudulent purpose, the court, on the application of the liquidator, may declare that any persons who were knowing parties to the fraud are liable to make such contributions (if any) to the company’s assets as the court thinks proper.