The Sarbanes Oxley Act Controversy - 1844 Words

The Sarbanes-Oxley Act arose as a result of several corporate accounting scandals that became public in late 2001 and early 2002. These scandals involved many publicly traded companies such as Enron, which â€Å"boosted profits and hid debts totaling over $1 billion by improperly using off-the-books partnerships†; WorldCom, which â€Å"overstated its cash flow by booking $3.8 billion in operating expenses as capital expenses and gave founder Bernard Ebbers $400 million in off-the-books loans†; and Xerox, which â€Å"falsified financial results for five years, boosting income by $1.5 billion†, among a long list of others (Patsuris, 2002). In the book Revolutionary Wealth, Alvin and Heidi Toffler (2006) explain that â€Å"slowly changing regulatory and†¦show more content†¦Regulation and Enforcement The Sarbanes-Oxley Act consists of 11 titles that set significant requirements and consequences for non-compliance in terms of transparency of financial repor ting and accountability of leadership for publicly held companies. The Act established the Public Company Accounting Oversight Board (PCAOB), which is an independent, nongovernmental and non-profit organization created to oversee the audits of public companies. The Act also set requirements for the audit committee, the CEO and CFO in regards to certifying financial statements, prohibits loans to executive officers, require real-time disclosure of information, changed the deadline for insiders to report trading in company s securities to within two business days of the transaction, provides for the protection of whistleblowers, and imposes sanctions and penalties on violators of the provisions of the Act (â€Å"Corporate scandals, the Sarbanes-Oxley Act of 2002 and equity prices,† 2007, p. 83). All of these provisions are used to help improve accuracy and reliability of corporate disclosures by ensuring transparency, neutrality, and accountability in reporting financials, in order to protect investors. The Sarbanes-Oxley Act has manyShow MoreRelatedThe Sarbanes Oxley Act Of 20021525 Words   |  7 Pagesthe Sarbanes-Oxley Act of 2002 (Cheeseman, 2013). Congress ordered the Sarbanes-Oxley Act of 2002 (SOX Act) to shield customers from the fraudulent exercises of significant partnerships. This paper will give a brief history of the SOX Act, portray how it will shield general society from fraud inside of partnerships, and give a presumption to the viability of the capacity of the demonstration to shield purchasers from future frauds. History of the SOX Act Congress established the Sarbanes-Oxley ActRead MoreSarbanes Oxley Outline676 Words   |  3 PagesThe Ineffectiveness of the Sarbanes Oxley Act In Corporate Management and Accounting In the early 1990s, a young company named Enron was quickly moving up Fortune magazine’s chart of â€Å"America’s Most Innovative Company.† As the corporate world began to herald Enron as the next global leader in business, a dark secret loomed on the horizon of this great energy company. Aggressive entrepreneurs eager to push the company’s stock price higher and a series of fraudulent accounting procedures involvingRead MoreSarbanes Oxley Act1322 Words   |  6 PagesSarbanes-Oxley Act The Sarbanes-Oxley is a U.S. federal law that has generated much controversy, and involved the response to the financial scandals of some large corporations such as Enron, Tyco International, WorldCom and Peregrine Systems. These scandals brought down the public confidence in auditing and accounting firms. The law is named after Senator Paul Sarbanes Democratic Party and GOP Congressman Michael G. Oxley. It was passed by large majorities in both Congress and the Senate and coversRead MoreSarbanes Oxley Act And Its Effect On Businesses1542 Words   |  7 Pagesthe Sarbanes-Oxley Act. In 2002 the Sarbanes-Oxley Act passed by the U.S. Congress to protect shareholders and the general public from accounting errors and fraudulent practices in the enterprise, as well as improve the accuracy of corporate disclosures. With the research I have done I believe that with the act being accepted and pass made a big change for all organizations, large and small. Keywords: U.S Congress, Organizations,Research, Sarbanes-Oxley, Accounting the Sarbanes-OxleyRead MoreThe Sarbanes Oxley Act ( Sox )1604 Words   |  7 Pagesthe company. Thus, to respond to the public pressure over acts of corporate offense, the Sarbanes-Oxley Act (SOX) was enacted in 2002. SOX proposed major changes to the regulation of corporate governance and financial reporting by improving the accuracy and reliability of company disclosure. This essay will explain the effects of SOX on the financial statement fraud in an organization. Situation Prior to the legislation of Sarbanes-Oxley Act, the regulations of financial statement were much more laxRead MoreThe Sarbanes Oxley Act Of 20021274 Words   |  6 Pagesare the Sarbanes-Oxley Act of 2002 and the recently approved by Congress act, the Dodd-Frank Wall Street reform and Consumer Protection of 2010. While these acts have been implemented with the economy and the consumer in mind, there have been a lot of controversy on whether these acts have in fact benefitted the economy or not. We will analyze and explain the two before mentioned acts and will provide an overview of the point of view of supporters and the opposition. The Sarbanes-Oxley Act of 2002Read MoreCase Study of NYSE1328 Words   |  5 Pagesthe payment of former NYSE chairman Richard (Dick) Grasso. As many as 45 former directors and former employees were subpoenaed over possible violations of NYSE regulations or other regulations that dealt with accountability of an organization. Controversy over Grassos pay had started the previous year when revelations regarding the hugeness of his pay sparked media and public outrage. Grassos annual pay was disclosed to include $1.4 million in salary plus a nonguaranteed bonus of approximatelyRead MoreThe Public Company Accounting Oversight Board1193 Words   |  5 PagesThe Sarbanes-Oxley Act created the Public Company Accounting Oversight Board (PCAOB) to assume the responsibility of overseeing the auditors of public companies. The PCAOB is a private-sector, non-profit corporation. It was established to protect the interests of investors and further the public interests in the preparation of informative, fair, and independent audit reports. (The PCAOB) Although the PCAOB is a private sector organization, it has many government-like regulatory functions. The PCAOBRead MoreResearching Topics Of Interest Is A Key Starting Point For The Research Effort1538 Words   |  7 Pagesrevenue recognition, FASB ASC 805-10, Business Combinations, applicable to creative acquisition accounting, and †¢ IAS No. 36, Impairment of Assets, applicable to big bath charges and cookie jar reserves. Other key applicable rules areas include Sarbanes Oxley, Dodd Frank, and the SEC rules for publicly traded companies. An Examination into the Effects of Fraud Relative to Financial Statements, Corporate Image, and Prevention Methods Utilizing Emerging Information Technology Tools The second topic areaRead MoreThe Sarbanes Oxley Act Of 20022042 Words   |  9 PagesIntroduction The Sarbanes-Oxley Act of 2002 (SOX) was enacted on July 30, 2002 as a result of a series of corporate fraud scandals that shook the world and devastated investor confidence. Expand History of the Act The Sarbanes-Oxley Act was enacted primarily to address a multitude of corporate scandals. The largest and most infamous scandal was from an energy company named Enron. Enron was the 7th largest company in 2001 and by the end of 2002 it was bankrupt. The company was found to be falsifying

America and World War II Essay - 1103 Words

Was World War II a Good War For America? nbsp;nbsp;nbsp;nbsp;nbsp;One of the most important wars ever fought was World War II. In the midst, the Nazis were in control of most of Europe, the Soviet Union was causing more deaths than any other country, and Japan had taken over parts of China. The United States of America was stuck in the middle of all this. They had to deal with the Nazis and deciding when to join the war, meanwhile, Japan was breathing down their necks with attacks. What was America to do? What would happen to America, and would this be a â€Å"good war† for them? I believe World War II was a â€Å"good war† for America because it made them a higher power like they are today.nbsp;nbsp;nbsp;nbsp;nbsp;†¦show more content†¦The US had an embargo against Japan because of their territorial advances threatening US territories in South-East Asia. The Japanese were bound to attack the US and the US knew it, but still did not attack or declare war on Japan until Japan had attacked the US. This shows that the proper chance to avoid war with Japan was given, and that the declaration of war against Japan was necessary. Germany was known to be in alliance with Japan, and was at war with our allies. Germany was also sinking American ships in the Atlantic. This justifies the United States in its decision to declare war on Germany. America could see the positive effects this war could have on them at that point. nbsp;nbsp;nbsp;nbsp;nbsp; nbsp;nbsp;nbsp;nbsp;nbsp;The war effected every part of American life. Economically, the nation was lifted out of the depression. During the war, full employment was reached, and there was not much on which to spend money. After the war, the US was in better physical shape than any other nation on Earth. All other industrialized nations had been bombed and attacked extensively, but the US was left virtually untouched. As a world power, the US was forever changed. Never again would America play the role of the neutral nation. Emerging as the only nation with the power of the atom gave the US the leading role as a super power nation. From the end of the war until now and into theShow MoreRelatedWorld War Ii and America944 Words   |  4 PagesThe world’s greatest war, World War II began in 1939 and lasted for almost six years. It was between two military alliances. On the axis powers were Japan, Germany and the Kingdom of Italy. While the allies were lead by United Kingdom, China, Soviet Union and The United States of America. America was not directly involved in the war in the early stages. The necessity increased after the fall of France, the Pearl Harbor incident but mainly when Hitler declared war on U.S. This led to America’s directRead MoreEffects Of World War II On America1078 Words   |  5 PagesZikra Imtiaz Govt. 2305 11/29/2016 Effects of World War II Americans have been wondering whether President Truman should’ve ordered the usage of weapons which was against Japan back in August 1945. The World War II which involved almost every part of the world. This decision had the citizens thinking every year that passes by as if the President had made wrong decision. This horrible event had the citizens in doubt. The results were not good for the Japanese civilians. Because the of the atomicRead MoreAmerica s World War II870 Words   |  4 PagesThere is no doubt that America’s World War II is a rich source of literature and a theme for many writers. As result, they wrote many works about war literature, such as novels, poetry, plays, diaries, and personal narrative. The American Literature was formed by the history of the state that produced it just like in other nationwide literature. America was just a cluster of colonies scattered alongside the eastern seaboard of the North American continent for approximately a centuryRead MoreAmerica After World War II1560 Words   |  7 PagesIs it possible to know what Americans thought of World War II, if they believed that the war was a just war or whether they did not agree for what the United States was fighting for? The historian Studs Terkel believes he knows this answer and that Americans saw themselves as liberators of an oppressed world fighting for the just war which can be concluded from his famous volume, The Good War. Of course one person’s beliefs should not be believed as easily just by reading a book. A person shouldRead MoreAmerica s World War II1530 Words   |  7 Pages1941 The United States is quiet and empty because they went off to fight in World War II. This Day March 14, 1943, I Louis Slotin currently a physicist part of the Los Alamos National Laboratory trying to help America during World War II. Today Rrobert Ooppenheimer had a big plan for me. When I got to the Laboratory I signed In. Louis â€Å"I have big news for you I have scheduled a meeting to talk about how we would keep Aamerica safe† exclaimed Rrobert Ooppenheimer excitedly. The Meeting Will StartRead MoreAmerica During World War II Essay2115 Words   |  9 PagesAmerica in World War II: Factors Which Contributed to the Victory Over Nazis Germany World War II was one of the greatest historical events for many countries of the world in the twentieth century. For America, this war was associated with involvement into confrontation with Japan, Italy and Germany, starting from the attack on Pearl Harbor in1941. In 1937, the U.S. President Franklin D. Roosevelt delivered his speech, devoted to the beginning of World War II and declared that his country wouldRead MoreThe Best War Ever : America And World War II1362 Words   |  6 PagesIn his book The Best War Ever: America and World War II, Michael Adams tries to dissolve the many misconceptions of World War II. As the title of the book implies, The United States left the war with a great optimistic view of the these â€Å"glorious† five years. The United States as a population had been tricked into believing in the, at times, fabricated conditions of its history that had been presented to people as some beautiful stories and myths where nations are viewed as being first-r ate in unionRead MoreAmerica s Entrance Into World War II833 Words   |  4 Pages Why We Fight: Since World War II, the United States has been almost repetitively involved in combat, active members in a string of wars fought completely on foreign shores. American people have fought for the rights and freedom we have today. We the people earned the right for our life, liberty and pursuit of happiness. We have always fought for what we believed in and have never stopped. This film helps encourage the involvement of the United States army to protect one who needs help fightingRead MoreAmerica s Position On World War II1273 Words   |  6 Pagesworld’s future.’’ How did the American’s position on World War II change, when the Japanese attacked Pearl Harbor? The American’s position on World War II, changes when the Japanese attacked Pearl Harbor. Throughout the essay it will explain the America’s position on the policy of Neutrality â€Å"Isolationism† and U.S attack military weapons and also the Japanese attack on Pearl harbor before WWII. The policy of Neutrality â€Å"Isolationism† America s policy of neutrality and isolationism changed afterRead MoreEffects Of World War II On America Essay958 Words   |  4 PagesIn September of 1939, a global war had begun when Hitler led the German forces to invade Poland. The American president was reluctant on entering the war because he was building allies in the western hemisphere and was focused on making life better on the home front. Tragedy struck America on the morning of December 7, 1941 when the Japanese conducted a surprise aerial attack against the United States naval base at pearl harbor. The lethal and deadly force of the attack spurred President Franklin

IT Development in Major Business Firms Free Essays

The purpose of this White Paper is to inform you on the Information Technology situation at Enqvist Int. Information Technology is all the hardware, software, telecommunications, database management, and other information that we use to process technology using computer based information systems. IT helps create business strategies in many business fields, including Business Management. We will write a custom essay sample on IT Development in Major Business Firms or any similar topic only for you Order Now In this white paper, you will be presented with the current standing of our IT development as well as improvements that can and should be make to increase company productivity. By further developing our IT infrastructure, Enqvist Int. an improve so that we have the most up to date technology available in our field. More specifically, I am going to present to you the possibilities associated with upgrading our current software, databases as well as our telecommunications network within the organization. A few of the benefits that will be received will be increased collaboration, quicker, easier access to customer information as well as to supplier information. These details are discussed in depth in the scope of this white paper. Enqvist Int. is a manufacturing company that produces office equipment. The production plant is based in New Albany and we distribute mainly to Indianapolis, Louisville and Cincinnati. We also do business with other companies in between these metropolitan areas. At Enqvist Int. , our products are sold to other businesses that use our equipment in their offices as well at to retailers for resale. We have offices in all three major cities that set up sales with possible clients. It is important that all three locations share common information with each other as well as with the plant in New Albany to make sure that there will be enough equipment to meet the demand for those cities as well as the surrounding areas. A close eye is always kept on inventory at Enqvist Int. as we pride ourselves in having what consumers want when they want it. Management of this inventory is currently done by hand at the plant in New Albany before the products are shipped to their designated location. In the following pages of this white paper I will present to you the current situation of Enqvist Int. in the IT fields of software, databases and telecommunications. After discussing how we currently use these technologies I will follow up with some developments that can be made in each field to improve the way we do business. After discussing these issues I will give my recommendations on what I think the appropriate action would be to increase the productivity of Enqvist Int. I will conclude with what we can hope to expect from IT in the future. Scope of Situation in Business Management I have been working with an IT Specialist from Cisco. com discussing with him the alternatives of the way we are currently using IT in our company. He has been giving me suggestions along the way with what to offer you in this white paper. Again, I will focus on three major areas, software, databases and telecommunication. At the present time Enqvist Int. does not have any particular software suite common to the three major offices. All three locations have access to the Internet and internally in the three organizations there is access to an Intranet. Product inventory is kept by hand with the information being stored on a hard drive in computers. There are relatively few computers on hand at the plant in New Albany while each employee has their own workstation at each of the three metropolitan locations. According to my IS source, we have an array of options for improving out software condition. In today†s IT world, the trend in software is away from custom design programs and towards of the shelf software suites that are user friendly to our employees. The trend is leaning away from procedural and machine specific programming and towards specific business application uses. Speaking in terms of productivity, we can upgrade from our current software to software that will increase productivity. To continue doing business as usual we need to have a software suite that has the major types of software already installed and ready to use. Remember that we will need a system that meets our requirements of how we do business. Some of the basic software necessary will be a Web browser, e-mail, desktop publishing and word processing. These are all included in several suites such as Microsoft 2000. For example, 2000 has several business specific applications like Word and Excel just to name a couple. These applications can help keep track of our inventory as well as the product schedule of what we will be running on the production line at the plant. E-mail and other forms of virtual groupware will help increase communications between employees at all locations. Another alternative would be to implement a new operating system into the organization to meet our increasing software needs and requirements. An operating system is an integrated system of programs and software that manages the operations of computers. It controls the inputs/outputs and storage of information. In our case the primary reasoning behind an operating system would be to maximize productivity in a more efficient manner. An operating system has four major characteristics that help this process; User Interface, Resource Management, File Management and Task Management. These qualities will help Enqvist International†s management team accomplish specific tasks such as checking to see how much inventory is in stock for a particular product. An operating system will also help with basic business management functions such as storing and retrieving customer information. That is an overview of the software standing at Enqvist Int. and what is available for us to implement to improve they was we use software. Implementing this system at all locations of Enqvist Int. will be costly but the benefits derived should offset those costs. Some benefits will include efficient work, easy interaction with other software, reliability, and application specific programs. Enqivst Int. currently has a strong database infrasturcture but there is room for improvement. We currently have three separate databases, one for each metropolitan location. Each location can run several applications to find and configure data needed for themselves or to relay to customers. There is one big step we can take to improve our overall schema of Database Management systems. After consulting with my IS agent, I have discovered a more error free way to keep track of data. Instead of having the three databases scattered throughout the company, we could have one main database that can be accessed by all three locations. For example, when an employee is running an application to find data on a customer, he will be able to find all data about them in one place instead of going to different databases for pieces of information. A Database Management System (DBMS) is a set of computer programs that control the creation, maintenance and use of data. This DBMS will consolidate records previously stored in separate files into a common file. The benefits of this include the ability for ad hoc queries. These are unique unscheduled information requests from the DBMS, easily capable if we have the newest innovations in DBMS. Forming one main database will also reduce redundant data and errors about those data. For example when information is stored in separate files you need to change customer information in all areas, this problem is eliminated with what I am offering, once you change the information in one area it is automatically done in every aspect of that customer. This will be favorable for Enqvist Int. because customer information will always be up to date. We will have all our entities kept together with the proper attributes to those entities easily accessible to our employees. DBMS will also allow us to build new applications to apply to the way we do business. For example, we will have all of our customer information in one area as well as information on suppliers to the plant in New Albany. DBMS will improve our efficiency and possibly help Enqvist Int. expand to new markets. There are four major benefits we can receive from DBMS. They are: Database Development, Data Interrogation, Data Maintenance, and Application Development. These benefits will help Enqvist Int. keep track of data about the business as well as being able to interrogate the data to be displayed in forms desired by our end users and employees. All this is available just by sharing a common database. The overall organization will be better informed about company data to provide better quaility decision making. There are issues to consider before changing our database infrastructure. We know that this system is able to update the database to reflect new transactions but we also need a DBMS that is reliable, secure and has a large capacity as we are a growing company. Determining who has access to what information in the database will be an important decision that will be made by upper management. Enqvist Int. employees currently have accessibility to a local area network (LAN) within the organization they work for depending on the city. Employees at the three respective stores have all their computers wired together within the office. While this has enabled the employees to communicate with each other and retrieve information about their office transactions, it does not allow them to communicate and have access with possibly needed information from the other two stores. We already have the basic components needed to improve our telecommunications network. We have the computer terminals and processors and the control software to manage the functions for which we use telecommunication. We could however take advantage of a more powerful channel over which our date is transmitted and received. We could also have this channel run fiber optic lines to connect the organizations three LANs creating a Wide Are Network (WAN). A WAN allows connection for large geographical areas, perfect for our situation. We could also form a VPN but our locations are close enough to form a WAN. Implementing a WAN will enable managers, end users, employees and workgroups to electronically exchange data and information from any of three stores with anyone in the company. This will increase collaboration between employees but can be costly. However, the benefits are incredible. Office workers will still be connected internally but also with all other offices including the plant in New Albany. By having all the offices connected to the production plant, employees will no longer have to send e-mails to find out information regarding product inventory or when shipments are being sent and arrived at their location. This takes time and may possibly cost us customers who will look elsewhere. With a WAN, employees could have access to this and other information to use in increasing customer service, another issue associated with business management. The speed and connectivity allowed through a WAN are just a few of the benefits that can be received from implementing one. Managers will have to take some things into consideration when implementing a WAN. With information so accessible to employees we must make sure it is secure so no one else can hack into our network. There are also the issues of who in the company can see and use what information. Employees at all locations are now able to work together on team projects and connect to the plant to check product information but their accessibility will have to have some end. Only office managers and management members above them should have access to company information such as income statements kept on our software programs and total operating cost or per unit costs, other important issues in business management. Once these rules are set, a WAN can increase our company productivity greatly. After informing you on the current situation that Enqvist Int. egarding Information Technology, I will now relay some suggestions that I feel can help this company improve and grow. Working with my IS consultant has helped me tell you the possible ways we can improve the current way we use IT at Enqvist Int. I feel that we could increase productivity to its maximum by using an operating system as our software suite. We could use this system to keep track on product inventory so that fewer errors occur in calculating inventory. Another advantage to Enqvist Int. from an operating system is that our employees will have access to user friendly, application specific business programs. I also feel that we should combine our organizations databases into one common database accessible to our end users. Keeping customer information as well as information on employees and data about the plant in New Albany will help our employees work better to improve customer service. A DBMS also reduces errors that may be in our data. All employees will see that same thing when they look up a common file where as when the information was stored separately two different users might see two different descriptions for the same customer. In reference to our telecommunications network, I think I already made my recommendation known in the scope of this white paper. I feel that implementing a WAN to connect our organization three current LANs will help Enqvist Int. improve in many areas by collaborating with each other. Connecting them with fiber optic lines will increase the speed at which this can be done. It will help us overcome geographical barriers and possibly expand to new markets. The recommendations made to you in this white paper won†t come cheap to Enqvist Int. ut I feel that the benefits we can receive from doing so will outweigh these costs and in time pay for themselves in increased employee productivity. Enqvist Int. has shown in the past that we can survive in our highly competitive market but to stay that way we need to improve our IT situation. By following some or all of the recommendations made to you Enqvist Int. will likely continue to thrive into the future with the help of IT. It seems as if the Information Technology world is changing everyday, which it is. By improving our IT infrastructure as mentioned in this paper, we will reap the benefits of what IT can do for business today. We can only wait and see what IT will have in store for us into the future, creating new innovating ways to manage data and help with business needs. It is likely that the IT tools we have today will be compatible with what will happen in to future thus allowing us to take advantage of those changes in IT. Into the future I think we should also start an Internet site to try in increase sales by expanding our market and also to add advertising. I know that the managers at Enqvist Int. ave been thinking on this for awhile now and with the help of my IS consultant, we could implement it relatively soon. Something that we could see in the future of IT is increased voice recognition. It is already possible for users to talk over the Internet to each other and hear each other. Something that we can look forward to in our computers is their increased voice recognition. We will be able to talk to our computers to accomplish tasks hands free. The computer may actually be able to communicate back with us in the future making working a computer easier and more productive than ever. Also in the future of IT we can expect to see increase in flexibility regarding what IT can do with increased power. This flexibility will open an expanding range of IT applications that help business processes. We will also experience increasing bandwidth making connection over networks faster and more reliable to access information. The future still remains to be seen but with IT, the possibilities are endless, I have only named a few. From writing this White Paper I learned that it is essential for today†s businesses to have IT has a backbone of their operations. To be competitive in today†s market, businesses need to have a strong IT infrastructure to assist them in running their organization. I also strengthened my understanding of how IT can help businesses expand and grow by making them accessible all over the world via the Internet. They can do business now with people anywhere but this is also something that many companies are having trouble doing today. However, I understand that by using IT to help you manage you information and to create the ability to work and collaborate together, it can help to improve your business and now I realize how this works a lot more in depth. How to cite IT Development in Major Business Firms, Essay examples

Walmart in the South

Introduction Walmart’s success in Mexico can be attributed to its competitive cost-reduction strategy. The implementation of NAFTA helped to solve most of the problems that Walmart was facing. Part of the success comes from the new manufacturing companies that established in Mexico. The production of goods in Mexico reduced Walmart’s reliance on imports.Advertising We will write a custom essay sample on Walmart in the South specifically for you for only $16.05 $11/page Learn More Improved infrastructure played a role in enhancing the effectiveness of the firm’s logistics system. Walmart faces reduced growth in the U.S. market, and varied success in the international markets. There is a culture clash between subsidiaries’ managers and the group’s executives. The firm can use local brands to enter new markets. There is a greater opportunity if Walmart can exploit the unmet needs in the emerging markets. Analysis The imple mentation of NAFTA helped to solve most of the problems that Walmart was facing (Daniles, Radebaught and Sulivan 365). Walmart is known as a low price retailer. Without NAFTA, Walmart was finding it hard to maintain low prices. A tariff rate of 10% made it difficult to compete with local firms (Daniles, Radebaught and Sulivan 365). It shows that Walmart relied on imports, before the formation of NAFTA. Walmart’s success can be attributed to NAFTA, which is based on imported goods. Part of the success comes from the new manufacturing companies. As a result of the new manufacturing companies, Walmart does not need to import some of the products. The tariff rate is 3% in the post-NAFTA era (Daniles, Radebaught and Sulivan 365). Walmart can obtain the goods at a free-tariff rate if they are manufactured in Mexico. The manufacture of goods in Mexico helped Walmart to avoid imports. Freight costs and tariffs are eliminated as a result of local production. NAFTA helped to reduce the cost of imported goods. Part of the success comes from improved infrastructure. Better infrastructure has helped Walmart to solve the logistical problems that it encountered when it entered Mexico (Daniles, Radebaught and Sulivan 364). The firm was finding trouble to use its experience in logistics because Mexico lacked supportive infrastructure. The Mexican government and the private sector have been involved in improving infrastructure. Any American firm would have encountered similar logistical problems. Walmart’s central distribution centers have reduced part of the problem. The distribution centers provide a central location, which reduces the overall distance that goods need to be transported. It can be noted that Walmart’s competitive strategy provides its ability to succeed.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Walmart has continuously reduced prices as par t of its competitive strategy (Daniles, Radebaught and Sulivan 364). Walmart relies on low prices to capture a larger market share. The ability to negotiate with suppliers for lower prices is Walmart’s competitive strategy. Walmart captured a large market share through acquisitions, which gave it a higher bargaining power over suppliers. Competitors collaborated to have a similar advantage. However, they are disappointed by Walmart’s continuous reduction of product prices. Walmart’s success in competitive pricing can be attributed to its strategy to gain a large market share, and collaborate with suppliers. Another American retailer would not have succeeded with a different strategy. Walmart’s strategy in reducing costs gave it a competitive advantage. Comerci and Soriana have combined their purchases to gain a higher bargaining power over suppliers (Daniles, Radebaught and Sulivan 365). Walmart’s main strategy is to reduce costs by working closely with suppliers. Comerci and Soriana are forced to combine their purchases because they have lost their market share. Comerci and Soriana need a continuous improvement strategy to reduce cost. The firms need internal controls to reduce costs continually. If they can continually reduce costs, they will be able to match Walmart’s competitiveness. Walmart’s strategy in Mexico and Central America is to focus on cost reduction, and an efficient logistics system. The effectiveness of the logistics system has been used to support suppliers, and the distribution network (Daniles, Radebaught and Sulivan 364). Walmart segmentation makes it easier to target specific demographic groups. Bilateral agreements have reduced the tariff rates of imports from 49 countries (Daniles, Radebaught and Sulivan 365). Walmart has gained a wider range of option in countries from which it can import goods. NAFTA reduced tariff rates in North America making it easier for the firm to import product from the U.S. into Mexico. Geographical proximity has an impact on free trade agreements as it can be seen in the NAFTA agreement. It has an impact on the cost of freight. It affects the speed at which goods may be imported. When countries are located close together, goods take less time on board.Advertising We will write a custom essay sample on Walmart in the South specifically for you for only $16.05 $11/page Learn More Some of the challenges the firm may face as it expands include culture clashes, logistical problems, intense rivalry from local brands, and misunderstanding consumer preferences in different countries. Intense rivalry emerges when competitors copy Walmart’s pricing strategy. Misunderstanding consumer demand comes from entering new markets. Logistical problems are attributed to poor infrastructure, and different trends in new markets. Alternatives Enter new markets using local brands, and then convert to Walmart after some time (BDC par. 4) Walmart used the same approach in Mexico (Daniles, Radebaught and Sulivan 363). It can work in markets where people are loyal to local brands. The firm may also use local brands permanently. Advantages The firm can capture a large market share rapidly because it is able to benefit from the local brand. It provides time to win local brand loyalists, before changing to Walmart. It provides time learn and integrate new cultures. Disadvantages It may build the local brands instead of promoting Walmart as a brand. It may be necessary to have separate marketing programs to capture different brands, which may increase marketing costs. Find markets for products that can be made locally as new products Eyring, Johnson and Nair (par. 5) suggest that the best way to succeed in the emerging markets is to find unmet needs, and develop products to meet the needs. The firm can seek to find out why some products are not very successful, and find ways of increasing the attractivenes s of the products. Eyring, Johnson and Nair (par. 3) discuss that multinationals fail to succeed in emerging economies because most of them think that reducing costs is the only formula to succeed. Advantages New products in new markets have a potential for rapid growth in revenues. Customers in emerging markets have a tendency of trying new products (BDC par. 3). Disadvantages New products may need a lot of marketing to create awareness. New products may turn into slow moving stock. New products may need importation, which increases cost. Walmart can succeed by targeting the largest social class in a country Eyring, Johnson and Nair (par. 5) explain that when a company targets high-income earners in emerging economies, they may not be very successful. The reason is that high-income earners do not form a large part of the population in emerging economies. Advantages Middle-income earners are increasing in emerging markets. Revenues rely on the sale of basic commodities, which c an get support from middle-income earners. Disadvantages The largest social class may have a low purchasing power, especially in emerging markets. The major difference between high-income earners and middle-income earners may be in the purchase of durables. Middle-income earners may purchase less of durable products than high-income earners. Walmart needs to update its automatic logistics system to recognize products with a high percentage of discounts, which they would not want to be reordered Advantage It will prevent reordering of products that do not maximize profits. Disadvantages It will be costly to regularly update the programmed system to match emerging needs. It will need verbal communication between managers of units, executives, and developers of the program. One of the ways of managing culture diversity is by managing the flow of information Nataatmadia and Dyson (581) discuss that knowledge sharing can applied down-upwards within an organization to improve multi cultural understanding. Nataatmadia and Dyson (582) support written communication as opposed to verbal communication for communities where English is learnt in the classroom rather than from practice. Advantages Written communication creates time for better statements and understanding between members. Written communication gives time to non-native English speakers to understand the subject. Managers can learn new things about the people’s culture. Disadvantages Written communication may require support software such as intranet or internet. It involves additional cost. Written communication may reduce openness, which is necessary for sharing knowledge. The Arkansas executive can allow managers in individual countries to create their own organizational culture provided that they meet the firm’s objectives The organization can have only the core parts of its organizational culture standardized.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Advantage The subsidiaries can meet the organization’s goals without having a culture clash between managers and employees. Disadvantages Walmart’s organizational culture may be lost when each subsidiary is identified with a different organization culture. It may difficult to transfer the same success Walmart has in the U.S. to other countries if managers cannot adapt to Walmart’s organizational culture. Conclusion Walmart has the alternative to manage by objectives, and allow subsidiaries to form their own organizational cultures. Sharing knowledge can be used to reduce culture clashes between managers. Walmart continuously reduces prices, which may prevent competitors from catching up with its low price strategy. Competitive pricing may not always be successful. Exploiting the unmet needs is a formula that may work best in emerging markets. Recommendations The firm can enter new markets using local brands. Acquisitions are a good penetration strategy in ne w markets with strong local brands. Television advertisement provides a better coverage, but is very expensive. In the U.S., in 2011, it was about $110,000 on average for a 30-second ad (Crupi par. 1). They can be used in the early stages, before the firm reverts to other methods of advertisement. Later, the firm can scrap out advertisement costs, which can be used to lower the cost of products. Works Cited BDC. Doing Business in Emerging Markets. 13 Jun. 2010. Web. Crupi, Anthony. In Their Prime: Broadcast Spot Costs Soar. 22 Jun. 2011. Web. Daniles, John, Lee Radebaught and Daniel Sulivan. International Business. 14th ed. 2011. Upper Saddle River, NJ: Pearson Education. Print. Eyring, Matthew, Mark Johnson and Hari Nair. New Business Models in Emerging Markets. 31 Jan. 2011. Web. Nataatmadia, Indrawati and Laurel Dyson. â€Å"Managing the Modern Workforce: Cultural Diversity and Its Implications.† Proceedings of the 2005 Information Resources Management Association Internat ional Conference. San Diego. May 15-18 (2005): 580-584. IRMA. Web. This essay on Walmart in the South was written and submitted by user Julissa C. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

The Basics of an Experiment

The Basics of an Experiment Science is concerned with experiments and experimentation, but do you know what exactly an experiment is? Heres a look at what an experiment is... and isnt! Key Takeaways: Experiments An experiment is a procedure designed to test a hypothesis as part of the scientific method.The two key variables in any experiment are the independent and dependent variables. The independent variable is controlled or changed to test its effects on the dependent variable.Three key types of experiments are controlled experiments, field experiments, and natural experiments. What Is an Experiment?  The Short Answer In its simplest form, an experiment is simply the test of a hypothesis. Experiment Basics The experiment is the foundation of the scientific method, which is a systematic means of exploring the world around you. Although some experiments take place in laboratories, you could perform an experiment anywhere, at any time. Take a look at the steps of the scientific method: Make observations.Formulate a hypothesis.Design and conduct an experiment to test the hypothesis.Evaluate the results of the experiment.Accept or reject the hypothesis.If necessary, make and test a new hypothesis. Types of Experiments Natural Experiments: A natural experiment also is called a quasi-experiment. A natural experiment involves making a prediction or forming a hypothesis and then gathering data by observing a system. The variables are not controlled in a natural experiment.Controlled Experiments: Lab experiments are controlled experiments, although you can perform a controlled experiment outside of a lab setting! In a controlled experiment, you compare an experimental group with a control group. Ideally, these two groups are identical except for one variable, the independent variable.Field Experiments: A field experiment may be either a natural experiment or a controlled experiment. It takes place in a real-world setting, rather than under lab conditions. For example, an experiment involving an animal in its natural habitat would be a field experiment. Variables in an Experiment Simply put, a variable is anything you can change or control in an experiment. Common examples of variables include temperature, duration of the experiment, composition of a material, amount of light, etc. There are three kinds of variables in an experiment: controlled variables, independent variables and dependent variables. Controlled variables, sometimes called constant variables are variables that are kept constant or unchanging. For example, if you are doing an experiment measuring the fizz released from different types of soda, you might control the size of the container so that all brands of soda would be in 12-oz cans. If you are performing an experiment on the effect of spraying plants with different chemicals, you would try to maintain the same pressure and maybe the same volume when spraying your plants. The independent variable is the one factor that you are changing. It is one factor because usually in an experiment you try to change one thing at a time. This makes measurements and interpretation of the data much easier. If you are trying to determine whether heating water allows you to dissolve more sugar in the water then your independent variable is the temperature of the water. This is the variable you are purposely controlling. The dependent variable is the variable you observe, to see whether it is affected by your independent variable. In the example where you are heating water to see if this affects the amount of sugar you can dissolve, the mass or volume of sugar (whichever you choose to measure) would be your dependent variable. Examples of Things That Are Not Experiments Making a model volcano.Making a poster.Trying something, just to see what happens. On the other hand, making observations or trying something, after making a prediction about what you expect will happen, is a type of experiment. Sources Bailey, R.A. (2008). Design of Comparative Experiments. Cambridge: Cambridge University Press. ISBN 9780521683579.Beveridge, William I. B., The Art of Scientific Investigation. Heinemann, Melbourne, Australia, 1950.di Francia, G. Toraldo (1981). The Investigation of the Physical World. Cambridge University Press. ISBN 0-521-29925-X.Hinkelmann, Klaus and Kempthorne, Oscar (2008). Design and Analysis of Experiments, Volume I: Introduction to Experimental Design (Second ed.). Wiley. ISBN 978-0-471-72756-9.Shadish, William R.; Cook, Thomas D.; Campbell, Donald T. (2002). Experimental and quasi-experimental designs for generalized causal inference (Nachdr. ed.). Boston: Houghton Mifflin. ISBN 0-395-61556-9.

Merychippus - Facts and Figures

Merychippus - Facts and Figures Name: Merychippus (Greek for ruminant horse); pronounced MEH-ree-CHIP-us Habitat: Plains of North America Historical Epoch: Late Miocene (17-10 million years ago) Size and Weight: About three feet tall at the shoulder and up to 500 pounds Diet: Plants Distinguishing Characteristics: Large size; recognizably horse-like head; teeth adapted to grazing; vestigial side toes on front and hind feet About Merychippus Merychippus was something of a watershed in equine evolution: this was the first prehistoric horse to bear a marked resemblance to modern horses, although it was slightly bigger (up to three feet high at the shoulder and 500 pounds) and still possessed vestigial toes on either side of its feet (these toes didnt reach all the way to the ground, though, so Merychippus still would have run in a recognizably horselike way).  By the way, the name of this genus, Greek for ruminant horse, is a bit of a mistake; true ruminants have extra stomachs and chew cuds, like cows, and Merychippus was in fact the first true grazing horse, subsisting on the widespread grasses of its North American habitat. The end of the Miocene epoch, about 10 million years ago, marked what paleontologists call the Merychippine radiation: various populations of Merychippus spawned about 20 separate species of late Cenozoic horses, distributed across various genera, including Hipparion, Hippidion and Protohippus, all of these ultimately leading to the modern horse genus Equus. As such, Merychippus probably deserves to be better known than it is today, rather than being considered just one of the innumerable -hippus genera that populated late Cenozoic North America!

Cystic Fibrosis Research Paper Example | Topics and Well Written Essays - 2500 words - 1

Cystic Fibrosis - Research Paper Example Reflecting on the experiences of the patient who has CF provides deeper insight in to the illness and shows that it has a great impact on the lives of the child, family, and then the adult who must live with CF. Cystic fibrosis is an illness that only just 70 years ago was fatal for children within their first year. The illness was most often diagnosed during autopsy and an understanding of the illness had yet to emerge. Although increases in treatment improved the prognosis of CF, real knowledge about the illness came in the late 1980s when in 1989 the CFTR gene was discovered. Originally the sweat test was considered the definitive test to determine the presence of the illness derivations of the disease have emerged that defy the sweat test as the gold standard. The treatment for CF has improved to the point that instead of dying as infants, people are now living long into old age through management and care (Bush, 2006). The following paper will examine cystic fibrosis through looking at what is known about the disease in relationship to its pathology, through the developing knowledge that has increased life expectancy, and through the treatments and care that has extended the lives of those who suffer from the illness. The paper will discuss the experiences of those who suffer from the illness as well as how treatment has advanced throughout the last decade. Cystic fibrosis is a devastating disease that has taken the lives of many children, but with the advances that have been made in understanding the disease, people are now living much longer and more meaningful lives as they live with the condition. In 1938 Dr. Dorothy Andersen wrote a landmark medical report in which the illness of cystic fibrosis was differentiated as a separate and distinct illness. In 1953 Dr. Paul di Sant’Agnese and associates came to understand that losses in salt