My Career As A Athlete - 1149 Words

Before racing shells, coxswains, and 5:00 am rowing practices, it was always sports that represented a measure of success for me. From a young age I dreamed of joining the ranks of Division 1 collegiate athletes all over the country and knew my success would be the direct result of my commitment to training. Fast forward twenty years and the athletic career I have experienced has been nothing short of successful. Rowing demanded more from me than I had ever demanded of myself and taught me the power of perseverance. It instilled in me that my capabilities have no boundaries and laid the groundwork for my success in business. The sport of rowing is relentless in its power to expose the mental strength of athletes. Since the completion of my experience as a collegiate athlete, I have been driven by a passion to further my career as a professional in sport. With the achievement of obtaining a graduate degree, I know as I create new career goals, I will have the skills necessary to succe ed in a new chapter of life. While I have a strong background in collegiate sports, coaching, and sports entertainment, I believe a Master’s in Sport Management from the University of San Francisco will provide me with the professional networks, specialized training, and management skills necessary to reach my goals of transitioning into Sport Marketing and Event Management. I hope to explore the opportunities of the sports marketplace and gain enough knowledge from the core curriculum andShow MoreRelatedDo You Have A Love For Sports?1130 Words   |  5 Pageslove sports and my job won’t even feel like work because of how much i m around sports. This career I have chose is to be a coach.I have took career cluster surveys and my top career cluster is Education and training. As a coach I will get to teach ametuer up to professional athletes skills to improve them in their sport. I will also get to instruct my team during games and lead them to wins. I will enjoy knowi ng that I shaped my team into better men. More than enjoying the wins my team gets. I choseRead MoreMy Best Evidence Came From One Case By Heidi Vollstadt Freeman1595 Words   |  7 Pagesan elite athlete and the fulltime job that comes with being a parent. The research on this topic is somewhat limited, but I am confident that the sources used in this paper are good quality. I have compiled qualitative data from four separate scholarly papers and two news articles. My best evidence came from one case study conducted by Heidi Vollstadt Freeman (2008), which analyzes interviews with eight different mothers during their post-partum return to training for the Olympics. My key findingsRead MoreBenefits Of An Athlete Business Manager948 Words   |  4 Pagesdo I want to open up for the rest of my life?† For instance, two characteristics that describe me are athletic and business minded. As I searched for careers that involved business and sports, I concluded that an athlete b usiness manager, also referred to as an agent, fits me well. An athletic business manager allows one â€Å"to combine a business background with a love of sports (â€Å"Athletic Business Manger†).† These managers are lucky enough to represent athletes or athletic organizations at the collegeRead MoreThe Importance Of Sports And Fitness Activities915 Words   |  4 Pages Ever since I was in elementary school, I always enjoyed being outdoors and getting involved in different fitness activities. During my Physical Education classes from K-12, I always participated in the activities assigned during that 3-week time period. I rarely ever was the student who preferred to walk instead of competing against my classmates in the activities. I enjoyed the competition, because it made me realize how serious I was about each of the activities. Participating in P.E. class helpedRead More Steroids in Sports Essay1122 Words   |  5 Pagesbe much more special because athletes would compete with their hearts and will, without an extra boost. A lso, since not everybody can be a professional athlete, the elimination of steroid use, in my opinion, would make the fans appreciate the game more and make them feel more relatable. Hopefully someday, fans will be able to watch their favorite sports in such a fashion. Steroid use by professional athletes is bad because doing so can damage an image of an athlete (if the offense is made public)Read MoreSports Management : Sport Management Essay837 Words   |  4 PagesThe careers within sport management have varied and grown exponentially throughout the history of sports. From team management to sport agency, sport management helps handle business within sports while the athletes can perform with no distraction. Within the careers of sport management, the top positions of sports are consisted of presidents, coordinators, and officials. Of the top positions lies my most interested career of the athletic director, the administrator of all operations of coaches,Read MorePersonal Statement : Athletic Trainer885 Words   |  4 Pages The profession that I am interested in is an Athletic Trainer. I have chosen this career because it is something that I have recently become passionate about within the last two years. I have never been the kind of person to struggle with weight, however after having my 3rd and last child, weight has become an issue. I mention my personal struggle to give insight on why I have chosen an Athletic Trainer. This profession’s main goal is physical fitness. As a trainer you become responsible for anotherRead MoreEssay on Professional Sports - Injured Athletes and Early Retirement1613 Words   |  7 PagesInjured Athletes and Early Retirement       The rise to become a professional athlete requires passion, dedication and years of preparation. To play a sport at such a high competitive level and intensity the athlete must be in excellent physical and mental health. Athletes of Magic Johnsons and Bo Jacksons caliber had the dedication and determination to be the best. The negative feelings the athlete endures after injury or illness is overwhelming and can lead to early retirement, but ifRead MoreMy Career as an Athletic Trainer Essay1264 Words   |  6 Pages As many of you might have guessed, my chosen career is to be an Athletic Trainer. When I tell people I want to be an Athletic Trainer, they think I mean an actual trainer having to do with lifting weights, working out, and helping an athlete train. There are actually two types of Athletic Trainers. The first type is a personal trainer who is hired to help you train for an athletic event and get you in shape. That is not what I want to. I want to do something totally different than that.Read MoreApplying Sociological Theory Into Everyday Life1224 Words   |  5 PagesAthletic Department, and was involved in student-athlete academic welfare.   When it was time to write my final research paper, I settled upon the topic of women in sports.   I wanted to analyze women’s meaningful contributions and accomplishments within sports, their leadership roles in sports, and what the future of sports could potentially hold for them. I worked with female athletes and what I saw this semester inspired me to write about this topic. My goal is to not only analyze sociological theory

Finance the future of the energy sector - Free Essay Example

Sample details Pages: 9 Words: 2790 Downloads: 7 Date added: 2017/06/26 Category Finance Essay Type Analytical essay Did you like this example? Question A A major problem for decision makers in enterprises is the evaluation of potential investment projects that can absorb capital assets. This evaluation, also known as investment appraisal, is really crucial for the future of any firm, since it determines the financial sources of the firmà ¢Ã¢â€š ¬Ã¢â€ž ¢s budget and ultimately defines the level of the shareholders wealth. In theoretical finance, several methods of investment appraisal are developed in order to help financial managers or accountants to evaluate with increased certainty cash flows, viability and profitability of any investment project. However, many empirical studies have shown that financial decision makers do not always adhere to the investment appraisal methods that theory provides[1]. Business experience has shown that contrary to theory, the appraisal of some investment projects is far more difficult because even the implementation of a specific appraisal method is ambiguous and subject to factors beyond financial theory. This essay will discuss the problems associated with the implementation of different appraisal methods using a case study to illustrate the exact nature of these problems. The potential source of capital that will be used to finance the specific investment project might influence the long-term financial state of the firm, and of course the shareholdersà ¢Ã¢â€š ¬Ã¢â€ž ¢ wealth. Thus, the financial decision makers, who ultimately aim at the maximisation of the shareholders wealth, face an additional question to investment appraisal. This question will also be examined in this essay. Don’t waste time! Our writers will create an original "Finance: the future of the energy sector" essay for you Create order The most fundamental investment evaluation method takes only into account the time period that is necessary for the invested capital to be paid back. This method is known as the payback period method. The primary advantage of this evaluation method is its simplicity, since a basic concern of financial managers is how soon the invested capital will be available for re-investing. Payback method is particularly useful to small firms that are in shortage of available cash, thus they want to track easily the time limits of their capital flows. However, a main drawback of payback is that it may lead to short-eyed decisions, since it ignores returns that might appear right after the end of the payback period. If an investment project yields high returns right after the end of the requested payback period, this method will evidently reject it. Another significant weakness of this method is that it ignores the broadly accepted fact that the value of money today is not the same as the value of money tomorrow. Essentially, between two investment opportunities with the same payback period, the one that yields more returns sooner should be clearly preferred. Thus payback method entirely fails to comprise different patterns of cash flows within the payback period. Another common method of investment appraisal is the accounted rate of return (also called Return On Investment or Return On Capital Employed). This method simply constitutes of a percentile average profitability-on-investment ratio and is popular due to its easy deduction from any given balance sheet. In this technique, as also in payback, no account is taken for the difference in the value of subsequent cashflows. Furthermore, since profitability is not certain at the beginning of the project, the ARR method is likely to be misleading in the process of investment appraisal. A more common use of this method is to measure the overall profitability after an investment project is over or the ability of a financial manager to evaluate and decide on the most profitable and less risky investments. The basic drawback of the two previous investment appraisal methods is that they fail to include the fact that the nominal value of a cashflow today is different from the real value of a cashflow with the same nominal value in the future[2]. Thus, if a technique can discount the future value of a cashflow into todayà ¢Ã¢â€š ¬Ã¢â€ž ¢s real terms, it could provide a better criterion on which investment project is more profitable. A technique that incorporates this discounting principle is the Net Present Value (NPV) method. In this method, all future cashflows can be interpreted in real present values, and so if inward cashflows are greater than outward cashflows the investment project can be selected. The discounting rate used for the decision is substantially the cost of capital, which of course has to be less than the rate of return. Under this principle, decision makers can chose between alternative and mutually exclusive projects, based on which NPV is highest. The aforementioned rate of return can be used alternatively in another investment appraisal technique, which also incorporates the discounting principle. Instead of discounting future values into present terms, one can compare directly the rate of return with the cost of capital. This technique is known as the Internal Rate of Return (IRR) method. This rate of return is the same one used to calculate NPV in the previous method. In practice, IRR can be difficult to calculate and its usefulness might be unclear to some decision makers. This is due to the fact that if the proposed investment requires more than a one-off outward cashflow, the rate of return might change in the duration of the project. Clearly, in an investment project that requires only one outward cashflow and regular inward cashflows both NPV and IRR methods will produce the same results. However, mutually exclusive investment projects are not easily compared since the discounting principle applies on the whole initial outward cashflow of each investment, allowing for some of the inward cashflows to be re-invested. An example of a real UK investment follows to show illustratively the problems in the selection of an appropriate investment appraisal method. The increased environmental sensitivity that has arisen in the last 25 years due to energy sources depletion issues and atmospheric pollution, provided motivation for research and evolution of renewable energy sources. In the UK, several renewable energy technologies have been put under consideration from the authorities. Renewable energy production technologies are very ambiguous investment proposals for several reasons: firstly, their research and application is still in very primary stages and their implementation requires extremely high costs; secondly, none of these technologies is adequate by itself to provide substantial energy capacity whereas several technologies have to be simultaneously developed (at least some of them) in order to provide a significant substitution to environmentally unfriendly technologies; finally, since none of these have been previously implemented, it is very hard to examine to which extent they will be accepted and whether they will be financially viable or not. Under these particularly unclear assumptions none of the technologies would ever be promoted, at least from a financial managerà ¢Ã¢â€š ¬Ã¢â€ž ¢s point of view since they all involve a large amount of financial risk. However, renewable energy is the future of the energy sector and several economic motivations have been created from the UK government in order to attract the interest of individual and corporate investors. The Non Fossil Fuel Obligation (NFFO) and the Kyoto Protocol force UK governments to ensure investors for high amounts of risk, so that renewable technology can proceed. In this case, the government pays a risk premium added to the price for each renewable energy unit produced. It is estimated that more than  £1bn capital value will be invested in the UK before 2010. Some of the first UK initiatives for renewable energy were The Wind Fund plc (that secured long-term capacity contracts under NFFO) and Baywind Energy Cooperative that firstly launched wind farms and small hydro plants in Cumbria. Other initiatives come from Fenland Green Power Investments and Eastern Generation. As an attempt to support these investment projects, local authorities have been invited to contribu te to the investment projects by contributing to the equity capital through local community funds. But how the investors will chose which investment opportunity is more profitable? Clearly, in this case the payback and ARR method cannot be of any use since a payback period is not acknowledged (it is uncertain if some technologies will ever be implemented at all) and accounting data are not yet available for most of them. Table 1 Discount rates, risk rating and economic estimates for the implementation of renewable energy production IRRe % Risk rating Estimated Output (MW) Capital Value ( £m) p/kWh Biomass-Biofuel 24.8 0.71 1 4 5.10 Municipal Waste Incineration 14.5 0.63 12 47.3 3.23 Small wind (600kW) 6.2 0.61 0.6 0.42 4.57 Large wind (20MW) 16.7 0.51 20 13 3.53 Small hydro (1MW) 10.5 0.48 0.89 1.3 4.25 Large hydro (5MW) 24.8 0.42 4.35 4.3 4.25 CCGT 14.0 0.46 475 142 2.50 Landfill gas 17.1 0.39 1 0.78 3.01 (source: Ernst Young, ref.K/FR/00090/REP) Obviously, the most appropriate techniques to be used in this case are the ones incorporating Discount Cashflow. The NPV approach, although sound for this kind of question, needs to put down specific values and also define time expectancy. On the other hand the IRR budgeting approach provides rates of return that are easy to interpret and for that reason this approach is generally preferred in industry level investments. Given the rate of return, a financial manager only has to know the interest rate (cost of capital) at which he can borrow in order to know instantly if the investment project is viable. Table 1 gives an idea of the discount rates calculated for each renewable technology. Notably these investment projects are not excluding each other, which means that evaluation with NPV would be very complicated. Hereby, this essay does not assume that IRR method is better or more preferred than the rest of the methods discussed above. On the contrary, this essay disputes that à ¢Ã¢ ‚ ¬Ã…“ à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦there may be a place for all the techniques of investment appraisal in the management accountantà ¢Ã¢â€š ¬Ã¢â€ž ¢s armoury. However, a thorough understanding of their theoretical nuances is importantà ¢Ã¢â€š ¬Ã‚ . Question B Once an investment project has been evaluated and approved, financial decision makers should decide how and from where they will acquire the necessary capital to fund the project. Firms can finance their investment projects using several capital sources: quoted shares, quoted long term loans, government subsidiaries (like in the case above for NFFO) or internal finance. All these different sources of capital create different sets of obligations to the firm and also are rated differently in terms of risk. The capital that is drawn from shareholders takes the form of equities. When a firm sells a share, it agrees to pay back the buyer a dividend at the end of each year. Thus the firmsà ¢Ã¢â€š ¬Ã¢â€ž ¢ obligation to the shareholders lasts to perpetuity. That is the main difference between the equity and the loan. A loan represents an investment of an individual or institution for a contractual fixed period that yields subsequent contractual returns, and also an obligation to the borrower to repay the whole capital and its cost in the contractual time periods. When a firm finances its investments with loans, an outward cashflow is created until the loans are redeemed. Obviously, the investment is supposed to create inward cashflows that can repay the loan (nominal capital plus interest). In case the firm is liquidated, all loans have to be repaid, by law, before any dividends can be paid back to the shareholders. In that sense equity providers face a higher risk than lenders. A firm acquires a long-term loan by issuing bonds, or otherwise notes that certify the nominal value of the bond, its cost to the lender (the coupon rate) and the specific repayment dates. The cost of the debt capital as expressed by the coupon rate is actually the rate of return for the creditors, but in the same time it is the opportunity cost for the firm. However, the important issue for financial managers is to acquire debt, at a specific level of risk, that can be repaid but also that gives the maximum expected rate of return. A firm has the ability to change its financial structure according to the prices of bonds and shares in the market. If bond prices are high, the firm can issue more bonds or if share prices are high the firm can issue more stocks. Of course, the extent of this decision lies entirely to the firmà ¢Ã¢â€š ¬Ã¢â€ž ¢s predictability of profits. If an investment evaluation was accurate and the firm can guarantee repayments, then it can issue more bonds. If the firmà ¢Ã¢â€š ¬Ã¢â€ž ¢s inward cashflows are volatile, creditors impose greater interest on loans and thus the firm will issue shares in order to acquire cheaper capital. In other words, debt capital should only be invested in projects that yield the highest possible returns for the same risk levels, especially if financial managers wish to maximise shareholders wealth. Thus, a company that issues more long-term bonds should make sure that the investing of this debt capital should be done in the highest possible rate of return. Otherwise, the shareholders face unnecessary increased debt capital risks and the firm should limit its borrowing to avoid bankruptcy. Since debt capital is less risky to creditors that equity capital to shareholders, the firm should be expecting a higher rate of return from investments financed from equity capital than investments financed from loans. However, this is not always possible because there is a limit to the number of shares that a company can issue. For this reason, firms issue preferred stock or different kinds of bonds in an attempt to acquire capital in the best possible terms but also to reduce the possibility of default. In conclusion, this essay examined the different techniques used in investment appraisal and their potential use from firms to evaluate investment opportunities. The payback method, based on a simple rational, is particularly useful to firms that do not have broad access to finance and need to invest with increased certainty. Otherwise, payback method can be very misleading. The Accounting Rate of Return method can be an easy median to evaluate investment decisions, especially after their fulfilment, but does not take into account the time devaluation property of money. Thus it can be also misleading when ARR is directly compared with the cost of capital. For this important reason, methods that incorporate the discounting principle can be more useful to decision makers. The Net Present Value method accounts for the time value of money and is more appropriate if the cost of capital needs to be re-invested or if the investment decision has to be made from mutually exclusive projects. O n the other hand, the Internal Rate of Return method, similar to the NPV method, provides a direct realistic comparison with the cost of capital and also can be very helpful when the investment decision can be made on two or more simultaneous projects. The usefulness of the four methods is examined on real investment opportunities that arise in the UK within the renewable energy upcoming industry. For the specific high-risk sector, the IRR method might be more appropriate although this result is by no means a generalisation of the usefulness of the different investment appraisal techniques. Furthermore, the discussion extents to the capital sources that firms use to finance their investments. It is argued that a firmà ¢Ã¢â€š ¬Ã¢â€ž ¢s decision to increase debt capital in its capital structure should be accompanied by the ability to cover the firmsà ¢Ã¢â€š ¬Ã¢â€ž ¢ obligations to creditors. If a firm wishes to maximise the shareholders wealth, then the expected rate of return from investments that are financed with debt capital should not exceed the rate of return expected from investments financed with equity capital, otherwise the firm might face liquidation. References Arnold, G., (2002), Corporate Financial Management, (2nd edit.), Pitman Publishing Arnold, G., and Hatzopoulos, P., (2000), The Theory-Practice Gap in Capital Budgeting: evidence from the United Kingdom, Journal of Business Finance Accounting, 27(5) (6) June/July, p.603-624 Bratton, W., (2003), Corporate Finance: cases and material, (5th edit.), West Group publishing Brealey, R., and Myers, S., (1991), Principles of Corporate Finance, (7th edit.), Higher Education Publishers Dugdale, D., (1991), Is there a à ¢Ã¢â€š ¬Ã…“correctà ¢Ã¢â€š ¬Ã‚  method of investment appraisal, Management Accounting (UK), May, p.46-50 Dugdale, D and Jones, C., (1991), Discordant voices: accountantsà ¢Ã¢â€š ¬Ã¢â€ž ¢ views of investment appraisal, Management Accounting (UK), (November), p.46-50 Lefley, F., (1997), The sometimes overlooked discounted payback method, Management Accounting, vol.75, iss.10, (November), p.36 Lumby, S., and Jones, C., (2003), Corporate Finance: theory and practice, Thomson Publishers NIFES OPET (2000), Local community funds for sustainable energy investment projects: a technical briefing, (retrieved from www.cne-siar.gov.uk on 15/04/2005) Pike, R., (1996), A longitudinal survey on Capital Budgeting, Journal of Business Finance and Accounting, 23(1), (January), p. 79-91 Sangster, A., (1993), Capital Investment Appraisal Techniques: A survey of current usage, Journal of Business Finance and Accounting, vol.20, iss.3, (April), p. 307-333 Watson, D., and Head, A., (2003), Corporate Finance: principles and practice, (3rd edit.), Pitman Publishing 1 Deveraux Deloitte Footnotes [1] This is evident from a number of previous survey studies on what and for what reason firms select their investment appraisal methods. See Arnold Hatzopoulos (2000), Pike (1996) and Sangster (1993) [2] However, a discounted payback method is also available, see Lefley (1997), the analysis of which goes beyond the scope of this essay since this method is not broadly used.

Immanuel Kant And Karl Marx - 1690 Words

The works of German philosopher’s Immanuel Kant and Karl Marx have played significant roles in the development of different sects of philosophy and religion. Immanuel Kant was born in 1724 in Konigsberg, East Prussia, now presently Kaliningrad, to a devout, poverty-stricken family of eleven children. Through his works, it is evident that Kant was raised in the religious teachings and values of pietism as his theories show a heavy influence of his religious upbringing. Kant as a young boy was accustomed to a routine of working and studying, and despite never travelling far from his hometown, he grew to be sociable and witty. Karl Marx was born almost a century later in the town of Trier, present-day Germany, in the year 1818 into a middle-class family. Marx studied a variety of disciplines, including law, philosophy and history, and became a preeminent philosopher, a revolutionary economist and a great leader. The revolutions of his time and his profound disapproval of the ca pitalist economic state inspired his works, particularly his concepts on authority and exploitation and his theory of history. This essay will compare the ethical and philosophical ideas of Immanuel Kant and Karl Marx. First, this paper will discuss the similarities between Kant’s theory of the person as an end, not as a mean to Marx’s idea of equality through a communist society. Second, it will discuss how Kant’s idea of freedom for all as method of achieving good will contrasts Marx’s idea ofShow MoreRelatedImmanuel Kant And Karl Marx3524 Words   |  15 PagesIn an effort to understand progress and its goal in humanity, philosophers Immanuel Kant and Karl Marx each present their theories with Kant believing progress is made through the reform brought on by antagonism and social instability in humanity which will ultimately lead to perpetual peace, while Marx argues progress comes in the form of a worker’s revolution and the adoption of true co mmunism that will lead to utopia. These German thinkers seek to define the guiding the force beneath humanity’sRead MoreKarl Marx And Its Impact On Society1306 Words   |  6 Pagesand services. Karl Marx believed in a utopian society where there isn’t a private ownership of production, where the state owns the means of production and the society would be classless. Although Marx did not believe in religion, parts of his theory can compare to certain ideas in the Bible. However, the eventual Communism that Marxism led to does not agree with God’s word. Influences of Marxism Karl Marx was born into a Jewish family in Trier, Germany in the year 1818. When Marx was a child, hisRead MoreKarl Marx s Influence On Society1423 Words   |  6 PagesKarl Marx may be regarded as one of the most influential thinkers and his views on how society functions have shaped the development of socialist and economic theories. Political philosophers have developed a variety of enlightened ideologies depicting how governments and societies are organized over the course of history. Marx’s influence by Georg Wilhelm Friedrich Hegel would lead to Marx’s view of history known as historical materialism, â€Å"Life is not determined by consciousness, but consciousnessRead MoreKant And Kant s Theory1368 Words   |  6 Pages Chapter 11: Question 8 What can be known According to Kant? Immanuel Kant (1731) was commonly known as the opponent of the utilitarianism. Kant believed that there are certain actions such as the murder, theft and lying that were prohibited regardless of the associated happiness that the action would bring. According to Kantian, there exist two questions, which human beings need to ask themselves before acting. One needs to rationalize, if everyone can act as he/ she proposes to act. If any caseRead MoreThe Social Construction Of The Industrial Revolution1150 Words   |  5 Pagessurplus by exposing anybody that was not the upper class. This tarnished the lower and middle class and they had to by any means, provide for themselves and their family. A new form of science was coming to be – social science. Emile Durkheim and Karl Marx defied all odds and opposed the quality of society. Today, these two men influenced us all in one way or another, but they have yet to see what long-term solitary confinement is like today; studying their t heories, one can try and see what theseRead MoreKarl Marx And The German Political System1427 Words   |  6 PagesKarl Marx was born on May 5th 1818 in Trier, Germany, which was then known as the Kingdom of Prussia. Karl was a philosopher, economist, sociologist, journalist, and revolutionary socialist. His work in economics laid the basis for much of the current understanding of labor and it’s relation to capital, and subsequent economic thought. He was born into a wealthy upper middle-class family. He attended school at the University of Bonn and later he studied law and philosophy at the University of BerlinRead MoreThe Political Philosophy of Karl Raimund Popper1139 Words   |  5 PagesKarl Raimund popper (1902 to 1994) was an influential philosopher of science, who philosophized about society, in much the same way he philosophized about science-in a critical spirit. His personal experience, as an Austrian Jew in the days of the Nazi Anschluss (meaning link up or anne xation in the German language), provided him a wealth of firsthand experience and insights into the nature of totalitarian governments. At a point in poppers life he was an enthusiast of Marxist socialism,Read MoreIs Democracy Promotion A Mask For Hegemonic Power?1546 Words   |  7 Pagesthinkers say that the spread of democracy will lead to peace. Immanuel Kant was the first who talked about the liberal peace. In the essay â€Å"On Perpetual Peace†, Kant’s intention was to get out states from their natural state, the state of conflict or the permanent war. â€Å"The practicability and objective realization of this idea of Federalism, inasmuch as it has to spread itself over all States and thereby lead to Perpetual Peace† (Kant, 1795, p.20). In other words, the premise of Kant’s work is thatRead MoreModernity and Classical Sociology Theory Essays1855 Words   |  8 PagesClassical modernity. Early modernity consisted of theorists such as Immanuel Kant, Jean-Jacques Rousseau, Adam Smith and Alexis de Tocqueville. Classical modernity consisted of theorists such as Karl Marx, Emile Durkhei m, and Max Weber. Many theorists have defined their own form of â€Å"modernity† which will be discussed throughout this paper. Karl Marx focused on Capitalism and the rise of social conflict as the basis of modernity. Marx felt that capitalism through industrialization had increased theRead MorePhilosophy 101 Essay826 Words   |  4 Pagesapologizes. Hegels philosophy of History, on of the greatest in the philosophy cannon, is the great philosophers greatest body of work. The philosophy of History is based on such ideals as the idea that Reason rules history. George Hegel used Immanuel Kants system of philosophy as a basis for his own, discarding a few ideas and adding some more. Particularly, he found fault with his idea of the underlying reality of everything, or noumena, can never be known. They exist in a plane outside of

Child Labor Essay - 960 Words

Child Labor Child Labor steals the childhood from the children. I am interested in child labor research because I personally experience it. When I lived in Nepal, I worked in a nut factory, and I was only in the fifth grades due to the financial problem. Many kids worked in hotels, in the house, and polished shoes to survive and to support their family, and some of my friends carried loads in building construction. I am curious to know how poverty increases the child labor and how it affects children’s dreams. I suspect the children’s side effect of doing adult’s work. I want to know does working as underage causes the lack of education and poor health issue. I had many questions about child labor, and I did research about how does Child†¦show more content†¦He said that child labor can be banned from giving them proper education. The second text I read was â€Å"India Plans Child Labor Reform† by Amy Kazmin. In this text the author argues that India moves forward to ban child labor for under thirdteen and let them go to school, but it hasn’t been totally follow. She states that the amendment consideration includes fines and punishment for having a child labor. Also, she says that legislature accepts to stop children working in factories, but she said it will be challenging. She mentions that Congress advisor said that advantage of education is more effective than benefits from child labor. However, she says fully preventing child labor would cause issues for the parent who depends on their kids’ income. But the Congress is working to defend children and let them be in school. She points that abolishing child labor is being neglected, but Unicef program, said banning child labor will take time and righteous laws helps to make changes. The third text I read was â€Å"India’s Child L abor Challenge† by Shashank Bengali. In this text the author argues that children do dangerous work full time for low wage, which harm their health and education, industry and parents depends on the children, and India is putting children’s life in a higher risk. He states that even children who are below teenage work in textileShow MoreRelated Child Labor Essay2301 Words   |  10 PagesChild Labor Child labor has been around for long time and it still exists in todays world. Thiskind of labor provides problems or difficulties in the economic world. Child labor is social problem with the rise of industrial production and capitalism. It appeared in earlier ages in agricultural societies when the children all around the world had to work along with 19th century, spreading to many countries. The problems started when many children, younger than ten years old, were employedRead MoreChild Labor Essay2202 Words   |  9 Pagesrushing carts. (Child labor, 1) Child labor through out history has been proven to affect child. Many things have happened in the past, which ruined the lives of children when they became older. Through time society has done many thing to help prevent child labor. In the U.S. laws have been created to stop companies from underpaying their young employees, making sure they arent hired too young, and to make sure their work is safe. Through time America has lowered the child labor rate, but in todaysRead MoreChild Labor Industrialization Essay1537 Words   |  7 Pagesthat they should be protected. However, those people believed in a child s capacity to change the world in the future. While people in the past saw children as a way to change the world while they were children. In the late seventeenth century, industrialization arose in England ushering in a new era of industry in our world. More industry means more workers, including children. With the rise of industrialization in a nation, child laborers are viciously abused due to their niche roles in productionRead MoreThe Problem of Child Labor Essay3155 Words   |  13 Pagesthen or not, he was also bringing a new connotation and worldwide innuendo to the term child labor. Child labor, is a term that will probably never be clearly defined. The World Book Encyclopedia states it to be simply the employment of children (defined as people under the age of 18) as wage earners. There is nothing grossly inhumane in the relatively fair and articulate definition. Yet, in her Child Labor: Then and Now , Laura Greene claims it is the abuse and misuse of children at work.Read MoreChild Labor Policy Essay2637 Words   |  11 PagesIntroduction Since the beginning of time, child labor has been a very complex issue in the United States. â€Å"Child labor refers to work that impedes children’s access to education and is harmful to their physical, mental, moral, developmental, and social well-being† (Schmitz, Traver, Larson, Pieris, 2004, p. 1). Exploitation from cruel to harmful is considered and reported as child labor. A child is a person under eighteen years of age, according to the Rights of the Child convention of 1989 (Schmitz et alRead MoreChild Labor Reform Movement Essay1820 Words   |  8 Pagessome individuals to question whether child labor was right. The growing sense that this new industrial child labor might be wrong developed a reform movement. The National Child Labor Committee was an idea that came from Florence Kelley and Lillian Wald of New York’s Henry Street Settlement. The National Child Labor Committee task was to investigate child labor and its related problems. The photographer , Lewis Wickes Hine, was hired by the National Child Labor Committee to field studies and photographRead MoreEssay Child Labor During The Industrial Revolution969 Words   |  4 PagesDuring the 18 and beginning of the 19th century in certain regions of the U.S child labor made up more than 40 percent of the population (Wolensky). That’s almost half of the working population. Since the beginning of time children have always been known to help their families with domestic tasks. Most of these kids worked in factories because they were easy to control and paid less than adults. Kids earned less than half of what adults made in the work force. In these factories they usually cleanedRead More Child Labor Essay1039 Words   |  5 Pages Child Labor nbsp;nbsp;nbsp;nbsp;nbsp;Child Labor, refers to the economically active population under the age of fifteen years old, who are employed in various industries (Grootaert, 2). Recently, child labor has become a large topic of debate; however, in most cases, it is very unfavorable. The perception that globalization is leading towards the exploitation of children, is becoming an important problem for international business. In my opinion, child labor should be eradicated. It is notRead MoreEssay On Child Labor1679 Words   |  7 PagesChild labor was a staple during the Urbanization of the United States of America. Fresh out of a bloody Civil War that took the lives of at least 618,000. Child labor was very dangerous. Especially in the steel mills because of the lack of safety equipment. It was also very dangerous because the children laborers were very young for the jobs they were doing for such cheap pay. Anywhere between 12-16 years old. Since they were all very young they were not v ery strong. So due to them being weak, youngRead MoreChild Labor Essay952 Words   |  4 Pagesâ€Å"In 1900, 18 percent of all American workers were under the age of 16† (â€Å"Child Labor†). This was during the end of the Gilded Age, when child labor was problem and was starting to be a major one. Child labor started because of poverty when children worked to support their families but were forced to give up education. Children could work long hours in dangerous positions for little money. Child labor continues because children have little power to complain or stand up for themselves to adults, their

Consistent Performer in the Market

Question: Explain about the Next plc is a consistent performer in the market but the Debenhams is gradually losing their position? Answer: Criterion 1 Tesco plc is one of the largest plc among the retail sectors in UK. The company incorporated in the year 1919 in a small town of London. It has a large collection of women wear and accessories. The company is now operating almost 12 countries in the world. The following income statement is extracted from the annual report of TESCO for the year 2013 and 2014. The table shows that there is some change in the figures for both the years. Consolidated income statement of TESCO plc Particulars 2014( m) 2013 ( m) Change Continuing operations Revenue 63,557 63,406 151 Cost of sales -59,547 -59,252 295 Gross profit 4,010 4,154 -144 Profit and losses arising on property-related items 278 -290 568 Administrative expenses -1,657 -1,482 175 Operating profit 2,631 2,382 249 Finance income 132 120 12 share of post tax profit of joint venture and associate 60 72 -12 Finance cost -564 -517 47 Profit before tax 2,259 2,057 202 Taxation -347 -529 -182 profit for the year from continuing operation 1,912 1,528 384 Discontinued operation Loss from the discontinued operations -942 -1,504 -562 Profit of the year 970 24 946 Attributed to Owners of the parent 974 28 946 Non controlling interest -4 -4 970 24 946 Note: here the change of the figures includes both increase and decline. The positive change includes the increase in the figure from the previous year, and the negative change includes the decrease in the figure from the previous year. Probable reasons for changes Change in revenue The revenue has increased by 151 m. The reason should be either increase in the selling price of the product or increase in the number of units to be sold. Revenue includes some other incomes apart from the sales. It may increase due to some realization of cash from debtors or any other income that may drive in the particular year (Annual report, 2014). Change in cost of goods sold The cost of sales of in the year 2014 has also increased. It indicates that the total cost of producing and selling the product is increased. The reason may be inflation due to which the price increases adoption of new technology in the production process or due to the need of making a quality product in order to compete in the market (Anon, 2013). Change in gross profit The gross profit in the year 2014 has declined by 144 m. The reason that is visible from the annual report is the increase in the cost of goods sold. Though the revenue has also increased but from the above table it is shown that the increases in the revenue is less than the cost increases, so there is a decline in the gross profit. Change in profit and loss of property In the income statement, this change is a positive one, and the change is mainly due to the change in the market price of the assets. If the asset that is sold in the market is very old then its written down value is also very low, and the disposal value create a loss on the sale. Change in administrative expenses It is also a positive change. It means the expenses relating to the salary, office maintenance, etc. increases compared to the previous year. Change in operating profit The company shows a good sign by increasing the operating profit in spite of declining gross profit. The main reason for increasing the operating profit is that in the year 2014 the company has a profit on the sale of property that offset the reduction in gross profit due to more cost of sales. Change in financial income The financial income of the company has increased due to the increase in the interest receivable and the income from cash and cash equivalents. Change in finance cost The finance cost for the current year has increased because the company has to pay more amounts of bank interest and net pension financial cost. Moreover, the interest payment on USD bond is also high in the present year (Shim and Siegel, 2008). Change in PBT The above table represents a positive trend of profit before tax. The probable reason of increasing PBT is due to the increase in operating profits and increase in finance income. Change in tax expense The tax expense is reduced in this year whereas the profit before tax is more. The reason should be a change in the tax rate, or the company may get some rebate or subsidy in this year (Shim, 2009). Change in net profit From the income statement, it is found that there is a drastic change in the net profit of the company. In the year 2013 the net profit was only 24 m, and it has changed to 970 m in the year 2014. The revenue from operation in 2013 is lower than 2014, but the gross profit was high. The main reason for low profit in 2013 is due to heavy loss from its discontinued business. This loss also existed in 2014, but the amount was very high in 2013. Moreover, the taxation expenses were also very high in 2013. These two reasons probably be the main reason for increasing the net profit in 2014 (Zimmerman and Yahya-Zadeh, 2011). Criterion 2 The breakeven point is the point of the output level of a business concern during a certain period at which total sales revenue is exactly equal to the total cost. In other words, it is that point that breaks the total cost and the sales value evenly to show the level of output or sales at which there arises neither profit nor loss (Hoque, 2005). The breakeven point can be better understandable by the following example: Suppose ABC Limited has manufactured a certain product "M" and the information related to that particular product is as follows Selling price $ 20 Variable cost $ 12 Total fixed cost $ 80000 Present output and sales 20000 units Therefore the breakeven point of the product is = (Fixed cost / PV ratio) = (80000/40%) = $ 200000 (BEP in value) = BEP in value / selling price per unit = 200000/20 = 10000 units Following is a chart which represents the detail analysis of the BEP Outputs (units) Variable cost per unit($) Total variable cost($) Total fixed cost($) Total cost ($) Selling price per unit($) Total sales ($) Total profit($) 0 12 0 80000 80000 20 0 -80000 2000 12 24000 80000 104000 20 40000 -64000 4000 12 48000 80000 128000 20 80000 -48000 6000 12 72000 80000 152000 20 120000 -32000 8000 12 96000 80000 176000 20 160000 -16000 10000 12 120000 80000 200000 20 200000 0 12000 12 144000 80000 224000 20 240000 16000 14000 12 168000 80000 248000 20 280000 32000 16000 12 192000 80000 272000 20 320000 48000 18000 12 216000 80000 296000 20 360000 64000 20000 12 240000 80000 320000 20 400000 80000 Explanation From the above table, it is clear that at 10000 units of output the company is having a no profit and no loss situation. At 10000 units, the contribution is just sufficient to meet the total fixed cost. Again, then both the fixed and variable cost can be recovered exactly from the sales revenue without leaving any surplus or deficit (Shapiro and Sarin, 2009). Fixed cost is that type of cost which is remaining same at every level of activity even if there is no production. So it is the part of cost that is fixed in total (Hansen and Mowen, 2006). Now at this point of time if the company can produce more output then per unit fixed cost will be reduced and the company will start to generate more profit. On the other hand, the variable part of the cost varies with the change in the production outputs, and if there is no production, there will not be any variable cost. Now if any company cannot be able to earn that much of revenue to recover its cost, then it will face a loss and ultimate ly tends to the shutdown point. So it is very necessary to produce at least that much of product which can recover its total cost. In the above table, it is observed that before reaching to the breakeven point the company is facing a loss as its total cost cannot be recovered at that much of production and sales. At the breakeven point, the profit and loss are equal to zero because the sales revenue is exactly offset by the total cost of the company (Groot and Selto, 2013). After the breakeven level i.e. after 10000 units the company started to earn a profit and as the number of the unit increases the amount of profit is also increases. The main reason is at 10000 units the company recovers whole of its fixed cost and after that level it has to incur only the variable cost as the variable cost is proportionate to the selling unit, so the profit is also growing. So the breakeven point helps a company to understand the number of the unit that they must produce in order to continue the business. It gives a bird eye view of the profitability and the other affairs of the product (Drs. Sugijanto, 2013). Workings Note 1 Statement showing the contribution and PV ratio Particulars Amount ($) Sales 400000 Less : variable cost 240000 Contribution 160000 Less : fixed cost 80000 Profit 80000 Note 2 PV ratio = (contribution / sales) Contribution 160000 Sales 400000 PV ratio 40% Section 3 criterion 3 Investment appraisal techniques Investment appraisal technique is nothing but the capital investment decision. The techniques are used to evaluate the investment proposals in fixed assets or any other expansion activities. There are several appraisal techniques which either incorporate the time value of money or does not consider that factor. With the help of those techniques it is possible for the company to judge the feasibility of the investment make (Eun and Resnick, 2007). Following Illustration can help to understand how different investment techniques can help in decision making: IC Company has $ 200000 to invest. The following proposals are under consideration. The cost of capital for the company is estimated to be 15%. Project Initial outlay($) Annual cash flow($) Life of the project(Years) A 100000 25000 10 B 70000 20000 8 C 30000 6000 20 D 50000 15000 10 E 50000 12000 20 Present Value of annuity received is as follows: 8 years 4.6586 10 years 5.179 20 Years 6.3345 Now the above investment proposals can be analyzed by the following techniques Net Present value PI Projects life of the project( years) PV factor (15%) Annual cash inflow (constant)($) PV cash inflow ($) Initial outlay ($) NPV ($) PI A 10 5.179 25000 129475 100000 29475 1.29475 B 8 4.6586 20000 93172 70000 23172 1.331029 C 20 6.3345 6000 38007 30000 8007 1.2669 D 10 5.179 15000 77685 50000 27685 1.5537 E 20 6.3345 12000 76014 50000 26014 1.52028 Here Net present value of proposals= PV of cash inflow- Initial investment Profitability index (PI) = PV of cash inflow/ Initial investment Post payback profitability Project Initial outlay ($) Annual cash inflow (constant)($) Payback period (years) life of the project (years) post payback period (years) post pay back profitability ( $) A 100000 25000 4 10 6 150000 B 70000 20000 3.5 8 4.5 90000 C 30000 6000 5 20 15 90000 D 50000 15000 3.33 10 6.67 100000 E 50000 12000 4.17 20 15.83 190000 Here payback period = (Initial investment / Constant annual cash flow) Post payback period = life of the project PB period Post payback profitability = Constant annual cash inflow * post payback period Decision making In investment appraisal process each and every techniques has its own decision making criteria. It may be happened the most viable project under one technique gets second or third rank under another technique. For example in case of above proposals the ranking of the projects are Rank NPV PI Post payback Profitability 1 A D E 2 D E A 3 E B D 4 B A B C 5 C C - Under the NPV method the total cash flow from the project is discounted at its present value and then the initial investment of the project is deducted from that present value. If the result is positive then the project will be accepted and if it is negative then the project will be rejected. In the above example all the projects are having positive value so they are ranked according to the highest NPV as it will give highest surplus. As the company is having $ 200000 to invest so it can select project A, D and E (Granlund, Mouritsen and Vaassen, 2013). The profitability index technique is actually the benefit cost ratio derived from a project. If the PI is more than 1 then the project is accepted. If the proposals are mutually exclusive then the highest positive PI will be given highest rank. In the above example with $ 200000 in hand the company can invest in project D, E, B and a part of project A if the project is divisible (Peterson, Fabozzi and Habegger, 2004). The post payback profitability is the measurement through which it can be known that what would be the amount of profit earned from a project after recovering its initial outlay. The payback period indicate the time within which the initial investment will be recovered. The more post payback period the more will be the profit. So as per the post payback profitability the company should invest in project E, A and D (RIEDL and SRINIVASAN, 2010). There are other techniques also which can be used for the measurement, but here the commonly used techniques are considered. As the decision criteria may differ under different techniques a company should fixed one or two standard technique as per the industry standard in order to get a proper result and to avoid confusion (Danthine and Donaldson, 2005). Criterion 3 Accounting ratios are the mathematical measurement through which the financial stability, profitability and the solvency position of the company is ascertained. The ratios are calculated from the information available in the annual report (Hubbard, 2008). Here two companies from the retail sector of UK is taken into consideration and some useful ratios are calculated for three consecutive years from the data collected from their annual reports. Ratio analysis Next Plc Debenhams Plc 2014 2013 2012 2014 2013 2012 Liquidity Ratios Current assets 1468.1 1207.8 1139.9 486.3 470.5 459.5 Current liabilities 834.5 816 742.4 758 741.9 727 Current Ratio 1.75925704 1.480147 1.5354256 0.6416 0.6342 0.63205 Quick assets 1082.5 876 768 140.6 112.6 127.2 Quick Liabilities 831.9 810.6 734.8 534.2 506 563.6 Quick Ratio 1.30123813 1.080681 1.0451824 0.2632 0.2225 0.225692 Efficiency ratio Total asset 2144.6 1893.6 1854.2 2148.4 2132.8 2091.2 Revenue 3740 3562 3441.1 2312.7 2282.2 2229.8 Asset Turnover Ratio 1.74391495 1.881073 1.8558408 1.0765 1.07 1.066278 Receivables 808 718.1 699.1 74.7 78.3 75.4 Revenue 3740 3562 3441.1 2312.7 2282.2 2229.8 Receivable turnover 4.62871287 4.960312 4.9221857 30.96 29.147 29.57294 Receivable collection period 78.855615 73.58408 74.15405 11.789 12.523 12.34236 payables 594 537.2 545 529.3 545.8 525.4 Cost of goods sold 2499.9 2437 2395.8 2033.4 1982.6 1927.5 Payable payment turnover 4.20858586 4.536485 4.3959633 3.8417 3.6325 3.668633 Payable payment period 86.7274691 80.45876 83.03072 95.011 100.48 99.49209 Inventories 385.6 331.8 371.9 345.7 357.9 332.3 Cost of goods sold 2499.9 2437 2395.8 2033.4 1982.6 1927.5 Inventory turnover 6.48314315 7.344786 6.4420543 5.882 5.5395 5.800481 Inventory Turnover period 56.299852 49.69512 56.658945 62.054 65.89 62.92581 EBIT 720.5 690.9 604.7 118.8 149.9 170.1 Interest 25.3 24.4 25.2 13 10.9 11.8 Interest Coverage Ratio 28.4782609 28.31557 23.996032 9.1385 13.752 14.41525 Debt 1023.9 792 889.1 623 646.5 703.2 Equity 286.2 285.6 16623 767.4 744.4 661 Financial Gearing ratio 3.57756813 2.773109 0.0534861 0.8118 0.8685 1.063843 Equity 286.2 285.6 222.7 764.4 744.4 661 Total asset 2144.6 1893.6 1854.2 2148.4 2132.8 2091.2 Equity Gearing ratio 0.13345146 0.150824 0.1201057 0.3558 0.349 0.316086 Profitability Ratios Gross Profit 1240 1125 1045.3 279.3 299.6 302.3 Revenue 3740 3562.8 3441.1 2312.7 2282.2 2229.8 Gross profit ratio 33.2% 31.6% 30.4% 12.1% 13.1% 13.6% Operating profit 722.8 695.1 601.8 128.6 155.4 175 Revenue 3740 3562.8 3441.1 2312.7 2282.2 2229.8 Operating Profit Ratio 19.3% 19.5% 17.5% 5.6% 6.8% 7.8% Net Profit 553.2 508.6 474.8 87.2 115.9 125.3 Revenue 3740 3562.8 3441.1 2312.7 2282.2 2229.8 Net Profit Ratio 14.79% 14.28% 13.80% 3.8% 5.1% 5.6% (Nextplc.co.uk, 2014) From the above ratio analysis following points can be discussed Liquidity ratio indicates the liquidity position of a firm. Liquidity means the ability to pay cash and cash equivalents when it is required. Liquidity is necessary for smooth running of a business. Poor liquidity position hampers the credit policy of the firm as they may not be able to pay their creditors due in time. On the other side the firm may able to capture new market opportunities if its liquidity position is high. Current ratio and quick ratio are the two important ratios measure the liquidity position (Magiera, 2010). In next plc the current asset ratio is more than 1 but not as much as it should be. It is also in the increasing trend from which it may be predicted that very soon they may reach to the ideal form. In case of current ratio also the Debenhams Company produces a negative image as the current ratio fall below 1. It means the company has more current liabilities to pay than its available current assets (CHEN, MITTENDORF and ZHANG, 2010). Quick ratio as the name indicates is the proportion between the quick assets and quick liabilities. Next plc has moderate quick ratio which is also more than 1. In Debenhams the quick ratio is too low almost 0.22. This clearly indicates that the company is suffering by liquidity crunch (Nextplc.co.uk, 2012). Debenhams Company has a good receivable and payable management policy (Annualreports.com, 2014). The overall condition of the Debenhams is deteriorating as all the ratios are below the standard (Annualreports.com, 2012). The quick ratio of both companies are very low because they have blocked a large amount in inventories they have bank overdraft balances which is also a financial burden (Annualreports.com, 2013). The liquidity, solvency and profitability position of the Next Plc is better than the other one (Nextplc.co.uk, 2013). So from the total discussion made it can be concluded that Next plc is a consistent performer in the market but the Debenhams is gradually losing their position, So they need to focus more on their activities. Lastly it should be remembered that ratio is one of the tools of performance analysis but it is not the only tool, so the other factors should also be considered before giving any final decision. References Annual report. (2014). [online] Available at: https://www.tescoplc.com/files/pdf/reports/ar14/download_annual_repor [Accessed 18 Aug. 2015]. Annualreports.com, (2012).Debenhams plc - AnnualReports.com. [online] Available at: https://www.annualreports.com/Company/debenhams-plc [Accessed 18 Aug. 2015]. Annualreports.com, (2013).Debenhams plc - AnnualReports.com. [online] Available at: https://www.annualreports.com/Company/debenhams-plc [Accessed 18 Aug. 2015]. Annualreports.com, (2014).Debenhams plc - AnnualReports.com. [online] Available at: https://www.annualreports.com/Company/debenhams-plc [Accessed 18 Aug. 2015]. Anon, (2013). [online] Available at: https://www.tescoplc.com/files/pdf/reports/ar13/download_annual_repor [Accessed 18 Aug. 2015]. CHEN, Q., MITTENDORF, B. and ZHANG, Y. (2010). Endogenous Accounting Bias when Decision Making and Control Interact*.Contemporary Accounting Research, 27(4), pp.1063-1091. Danthine, J. and Donaldson, J. (2005).Intermediate financial theory. Amsterdam: Elsevier. Drs. Sugijanto, D. (2013). Decentralization Analysis of Decision Making and Performance of Accounting Control System.IOSR Journal of Business and Management, 10(1), pp.8-11. Eun, C. and Resnick, B. (2007).International financial management. Boston: McGraw-Hill/Irwin. Granlund, M., Mouritsen, J. and Vaassen, E. (2013). On the relations between modern information technology, decision making and management control.International Journal of Accounting Information Systems, 14(4), pp.275-277. Groot, T. and Selto, F. (2013).Advanced management accounting. Harlow, England: Pearson. Hansen, D. and Mowen, M. (2006).Cost management. Mason, Ohio: Thomson/South-Western. Hoque, Z. (2005).Handbook of cost management accounting. London: Spiramus. Hubbard, J. (2008). Financial Statement Analysis.CFA Digest, 38(1), pp.59-61. Magiera, F. (2010). Financial Statement Analysis.CFA Digest, 40(1), pp.85-86. Nextplc.co.uk, (2012).Next Plc. [online] Available at: https://www.nextplc.co.uk [Accessed 18 Aug. 2015]. Nextplc.co.uk, (2013).Next Plc. [online] Available at: https://www.nextplc.co.uk [Accessed 18 Aug. 2015]. Nextplc.co.uk, (2014).Next Plc. [online] Available at: https://www.nextplc.co.uk [Accessed 18 Aug. 2015]. Peterson, P., Fabozzi, F. and Habegger, W. (2004).Financial management and analysis workbook. New York: Wiley. RIEDL, E. and SRINIVASAN, S. (2010). Signaling Firm Performance Through Financial Statement Presentation: An Analysis Using Special Items*.Contemporary Accounting Research, 27(1), pp.289-332. Shapiro, A. and Sarin, A. (2009).Foundations of multinational financial management. Hoboken, N.J.: John Wiley Sons. Shim, J. (2009).Financial management of multinational corporations. London: Global. Shim, J. and Siegel, J. (2008).Financial management. Hauppauge, N.Y.: Barron's Educational Series. Zimmerman, J. and Yahya-Zadeh, M. (2011). Accounting for Decision Making and Control.Issues in Accounting Education, 26(1), pp.258-259.

Different Types of Leadership Samples †MyAssignmenthelp.com

Question: Discuss about the Review of Different Types of Leadership. Answer: Literature Review According to Nanjundeswaraswamy Swamy (2014), the leaders that lack in supervising the employees falls under the category of Laissez-Faire, as the employees do not provide feedbacks to the leaders. Most of the employees are trained and experienced and know what their responsibilities are within the organization. Zhu et al. (2013) also stated that the leaders also make their decisions based on the feedbacks that they get from the employees, which helps them in controlling the employees so that they can be managed in a better manner in the work place. The autocratic style of leadership as per the author helps the leaders in monitoring the work of the employees. The authors Choi, Kim Kang (2017) have recently stated that the participative style of leadership is best suited for the organization, as the leaders are able to take better decisions based on the feedbacks that are provided by the employees. The decisions that are taken are mainly positive in nature, which helps in boosting t he morale of the employees. The authors were also of the view that transactional style of leadership rewards as well as punish the employees according to the responsibilities that they are carrying out within the organization. The transformational style of leadership according to Zhu et al. (2013) is better, as the leaders focus on a better level of communication, which helps the employees in achieving the goals that are set by the company. These leaders try to motivate the employees on a constant manner by communicating efficiently with them. References Choi, S. B., Kim, K., Kang, S. W. (2017). Effects of transformational and shared leadership styles on employees' perception of team effectiveness.Social Behavior and Personality: an international journal,45(3), 377-386. Nanjundeswaraswamy, T. S., Swamy, D. R. (2014). Leadership styles.Advances in management,7(2), 57. Zhu, W., Newman, A., Miao, Q., Hooke, A. (2013). Revisiting the mediating role of trust in transformational leadership effects: Do different types of trust make a difference?.The Leadership Quarterly,24(1), 94-105.