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Internship Report Term Paper Example | Topics and Well Written Essays - 3750 words
Temporary position Report - Term Paper Example In the recorded time of its foundation, it used to work as an essentially inventive office...
Wednesday, August 26, 2020
Internship Report Term Paper Example | Topics and Well Written Essays - 3750 words
Temporary position Report - Term Paper Example In the recorded time of its foundation, it used to work as an essentially inventive office. Notwithstanding, with the progression of time, it has been fruitful in growing its business towards playing out numerous errands, for example, promoting consultancy, advertising, the executives of inventive occasion, brand plan, movement, brand initiation and arrangement of web based life. This organization is famous in giving total help and arrangement all through the nation dependent on the system structure, which follows comparable culture and qualities (Publinet, ââ¬Å"About Usâ⬠). In the underlying time of Publinetââ¬â¢s foundation, it was working simply as an imaginative office. Be that as it may, with the modernization and the development of trend setting innovations, it has had the option to spread its wings towards the extension of business through various scales and assortments. Extraordinarily referencing, the organization has extended its business from innovative office to the arrangement of conveying wide scope of administrations, for example, marking, publicizing, activity and numerous different administrations through different quality based systems of correspondence. The organization has essentially four offices through which it works its whole business exercises. These incorporate customer adjusting/account the board, imaginative division, creation group and media office. There are different progressive requests of staff individuals enduring in the association. The more significant position authority of the association ranges from CEO to visual creator, account official, innovative advisor, IT Coordinator, completing craftsman, work force administrator, office supervisor, publicist, web designer, creation chief and advanced administrations executive (Spark, ââ¬Å"Peopleâ⬠). Publinet serves the mission of conveying those administrations to the clients that they anticipate from the organization (Ali and Sons Co., ââ¬Å"Publinetâ⬠). With a specific thought of working, the organization has had the option to gain the situation of privately created specialized specialistsââ¬â¢ arrange.
Saturday, August 22, 2020
Is the statement ''Good record-keeping shows good clinical care'' true Assignment
Is the announcement ''Good record-keeping shows great clinical consideration'' genuine Discuss - Assignment Example A decent clinical record ought to include: (1) relevant data of the patientsââ¬â¢ clinical history, including significant negatives; (2) assessment results, including significant negatives; (3) differential determination; (4) subtleties of any research facility tests requested, and any treatment gave; (5) patientsââ¬â¢ progress report; (6) follow-up plans; (7) data imparted to or talked about to the patient, for example, related inconveniences of a treatment; and (8) patientsââ¬â¢ resistance of the treatment (Medical Protection Society [MPS], 2011). This ought to be composed dispassionately, plainly and readably; with the name and mark of the clinical professional; just as the date and time of assessment fastened after the report (MPS, 2011). Clinical records are an integral part of patient consideration, which guarantees the protected conveyance of human services, just as positive patient results. Clinical records are the reason for setting up a high caliber of patient cons ideration (Ram and Carpenter, 2007). It is a fundamental device that permit clinical specialists to comprehend; gain from; and right mistakes made before (Ram and Carpenter, 2007). ... A point by point record of patient protests help clinical experts center treatment plan and care arrangement on the issue introduced; and on its related complexity. It gives a rundown of target sign that structure the reason for the determination; and it keeps deviation from the perfect course of treatment. By setting out on a treatment course intended for the patient, superfluous tests, drugs, methods, just as costs can be evaded; and an engaged arrangement of care can be applied. As per Blake (2010), ââ¬Å"good record-keeping will help the part in precisely reviewing the beginning stage with the customer, the settled upon objectives and process, and assessing the degree to which the objectives have been achievedâ⬠(p.15). Data contained in clinical records fill in as a storm cellar information with which present, and future appraisal discoveries can be contrasted and. This guides the wellbeing suppliers in choosing; in arranging; and in assessing the treatment routine and dif ferent mediations for the patient. Recording appraisal discoveries, result intercessions, and other watched appearances, can enable clinical professionals to screen the advancement of patient consideration; and recognize, just as forestall conceivable antagonistic impacts coming about because of the medicines utilized. In an examination by Pomeranz (n.d) on passings brought about by medicine blunders, he underscored that ââ¬Å"...better mindfulness can help forestall a portion of the passings [caused by unfavorable prescription reactions;]...and better record keeping can help forestall patientsââ¬â¢ being given medications that they have had hypersensitive responses to in the past...â⬠(as refered to in Grady, 1998, n. pag.). Appropriate data that can influence
Saturday, August 15, 2020
Book Riots Deals of the Day for August 4th, 2019
Book Riotâs Deals of the Day for August 4th, 2019 Sponsored by Book Riots Tailored Book Recommendation service! These deals were active as of this writing, but may expire soon, so get them while theyâre hot! Todays Featured Deals In the Woods by Tana French for $1.99. Get it here, or just click on the cover image below. The Shadow of the Wind by Carlos Ruiz Zafón and translated by Lucia Graves for $1.99. Get it here, or just click on the cover image below. Mind Platter by Najwa Zebian for $1.99. Get it here, or just click on the cover image below. In Case You Missed Yesterdays Most Popular Deals The Wedding Date by Jasmine Guillory for $1.99. Get it here, or just click on the cover image below. The Murders of Molly Southbourne by Tade Thompson for $3.99. Get it here, or just click on the cover image below. Previous Daily Deals That Are Still Active As Of This Writing (Get em While Theyre hot!): An Untamed State by Roxane Gay for $2.99 The Calculating Stars by Mary Robinette Kowal for $2.99 Girl, Interrupted by Susanna Kaysen for $2.99 Drop the Ball: Achieving More by Doing Less by Tiffany Dufu for $2.99 The Hunger by Alma Katsu for $1.99 Black Boy by Richard Wright for $1.99 Temper by Nicky Drayden for $1.99 Girls of Paper and Fire by Natasha Ngan for $2.99 Feel Free by Zadie Smith for $3.99 The Cutting Season by Attica Locke for $1.99. New Suns: Original Speculative Fiction by People of Color Edited By Nisi Shawl for $0.99. Mapping the Interior by Stephen Graham Jones for $3.99 The Casquette Girls by Alys Arden for $0.99 The Bees by Laline Paull for $1.99 The Unexpected Inheritance of Inspector Chopra by Vaseem Khan for $2.99 Grace and Fury by Tracy Banghart for $2.99 Shuri (2018 #1) by Nnedi Okorafor for $1.99 The Only Harmless Great Thing by Brooke Bolander for $1.99 Sing, Unburied, Sing by Jesmyn Ward for $2.99 Rosewater by Tade Thompson for $2.99 Family Trust by Kathy Wang for $1.99 The Black Gods Drums by P. Djèlà Clark for $1.99 Gods, Monsters, and the Lucky Peach by Kelly Robson for $1.99 My Soul to Keep by Tananarive Due for $0.99 All Systems Red: The Murderbot Diaries by Martha Wells for $3.99 Jade City by Fonda Lee for $2.99 Here to Stay by Sara Farizan for $1.99 A Big Ship at the Edge of the Universe by Alex White for $2.99 Silver in the Wood by Emily Tesh for $3.99 A Curious Beginning by Deanna Raybourn for $2.99 Storm Front by Jim Butcher (Book One of the Dresden Files) for $2.99 Guapa by Saleem Haddad for $1.99 Hogwarts: an Incomplete and Unreliable Guide by J.K. Rowling for $2.99 Short Stories from Hogwarts by J.K. Rowling for $2.99 The Paper Magician by Charlie N. Holmberg for $1.99 The Girl with the Red Balloon by Katherine Locke for $1.99 The Invisible Library by Genevieve Cogman for $0.99 Half-Resurrection Blues by Daniel José Older for $2.99 Cant Escape Love by Alyssa Cole for $1.99 Leaves of Grass by Walt Whitman for $0.99. The Haunting of Tram Car 015 by P. Djèlà Clark for $3.99 A Quiet Life in the Country by T E Kinsey for $3.99 Empire of Sand by Tasha Suri for $4.99 Life and Death in Shanghai by Nien Cheng for $4.99 Binti by Nnedi Okorafor for $1.99 Binti: Home by Nnedi Okorafor for $2.99 Binti: The Night Masquerade by Nnedi Okorafor for $3.99 Instant Pot ® Obsession: The Ultimate Electric Pressure Cooker Cookbook for Cooking Everything Fast by Janet A. Zimmerman for $2.99 Tell the Truth Shame the Devil by Lezley McSpadden with Lyah Beth LeFlore for $0.99 Magic Bites by Ilona Andrews for $2.99 Once Ghosted, Twice Shy by Alyssa Cole for $1.99 Whatever Happened to Interracial Love? by Kathleen Collins for $3.99 In Search of Lost Time: Volumes 1-7 by Marcel Proust for $0.99 Prime Meridian by Silvia Moreno-Garcia for $3.99 The Mirror Empire by Kameron Hurley for $2.99 I Met a Traveller in an Antique Land by Connie Willis for $0.99 Soy Sauce for Beginners by Kirstin Chen for $3.99 Silver Phoenix by Cindy Pon for $2.99 A Curious Beginning by Deanna Raybourn for $2.99 George by Alex Gino for $3.99 Destinys Captive by Beverly Jenkins for $1.99 A Rogue By Any Other Name by Sarah MacLean for $1.99 The Price of Salt by Patricia Highsmith for $0.99 Sign up for our Book Deals newsletter and get up to 80% off books you actually want to read.
Sunday, May 24, 2020
Leadership Styles And Its Impact On Leadership - 2818 Words
Often when there is police corruption in the news, there are individuals who will point fingers not only at the officers involved but also at the leadership in charge. The mindset, in general, is that if the leadership had reigned in their officers, then incidents of unruly behavior, excessive use of force and questionable decision-making would not have occurred. Thus, it leads this author to wonder what impact leadership truly has in policing. More specifically, this author is concerned with discovering if leadership styles have an effect on how effective or ineffective a leader will be within policing. Throughout the course of this paper, this author will discuss various types of leadership styles, behavioral traits and how they pertain to leadership, as well as what determines if a leader is effective. It is the hope of this author that a discovery will be made to clarify the aforementioned scopes in regards to their impact on leadership within policing. Part I: Leadership Styles. Looking throughout the course of history, it is very evident that a multitude of leadership styles have been employed by world leaders. The President of the United States, for example, is someone who recognizes the strengths of bureaucratic leadership, strategic leadership, team leadership, charismatic leadership and situational leadership. The type of leadership used by the President often depends on the situation that is being addressed. On the other end of the spectrum, there are someShow MoreRelatedTheories Of Leadership Styles And Other Factors That Impact On Leadership2135 Words à |à 9 PagesIntroduction This report will evaluate theories of leadership, leadership styles and other factors that impact on leadership. Within todayââ¬â¢s business environment Turner (1998) suggests that leaders should have the ability to ââ¬Ëinnovateââ¬â¢ and ââ¬Ëharnessââ¬â¢ the skills and abilities of employees to achieve continuous improvements for ââ¬Ëthe greater goodââ¬â¢ of a business. Therefore, todayââ¬â¢s leader must hold various qualities and characteristics to preserve the ever-changing demands and challenges in the continualRead MoreLeadership Styles And Its Impact On Organizational Success1084 Words à |à 5 Pagesperformance of other membersâ⬠(Gibson et al. 230). Groups are a fundamental part of an organization and help to achieve organizational success. There are many factors regarding the behavior of group members, leadership styles, the use of power and politics, and types of conflict that have a large impact on organizational success. There are two different types of groups. There are formal groups, which are ââ¬Å"created by managerial decision to accomplish stated goals of the organizationâ⬠and there are informalRead MoreLeadership Styles And Its Impact On Society1323 Words à |à 6 Pagesthat lead corporation and organization due to the inventions brought on by technology. Leadership styles have reshaped in the last several years in order to keep up with the latest trends. Years ago there was only one style of leadership that shaped America. It was Authoritarian. In order to understand how leadership styles have changed, all leadershipââ¬â¢s styles must first be explained. Styles of Leadership- Authoritarian, Democratic, and Laissez-Faire ââ¬Å"Authoritarian: perceive others as needingRead MoreThe Impact of a Participative Leader on Beliefs and Leadership Styles872 Words à |à 3 Pageshow does this impact current beliefs and leadership style? A participative leader is someone who seeks out the views and input of those around them. The basic idea is to involve more people in the process by treating them as an equal and empowering the work environment. The way that this impacts current beliefs is to transform how everyone sees their role inside the organization. When this happens, they are motivated to do more and share their opinions with others. (Leadership Styles, 1997) (BishopRead MoreTransformational Leadership Style And Its Impact On Organisation Performance1749 Words à |à 7 Pagesavailable on transformational leadership style and its impact on organisation performance. Many scholars have written about the success of transformational leadership style however, in healthcare system the concept of transformational leadership is yet to be explored more. According to (Dignam, Duffield, Stasa, Gray, Jackson, Daly 2012) transformational leadership is an approach by which individuals and social systems are changed. The m ain objective of this leadership style is to introduce a positiveRead MoreLeadership Style And Its Impact On The Culture Of Each Organization Essay1043 Words à |à 5 PagesSuccess in our leading corporations are scrutinized, and closely evaluated as to the form of leadership style and the impact of its mission and/or vision statement. Many leadership models focus on the needs of the organization, such as production, competition, technology and management. The organizations mission statement broadly defines its vision and establishes the structure for values and principles to guide employees. In addition, the objectives in the mission statement are the means to achieveRead MoreBusiness Strategy And Leadership Style : Impact On Organizational Performance1243 Words à |à 5 PagesLynn Roth Worcester State University BA490 Business Policy and Strategy M 6-9 Prof. Anthony Aiello December 1, 2016 Business Strategy and Leadership Style: Impact on Organizational Performance in the Manufacturing Sector Lynn Roth Worcester State University The quality of leadership and strategy is generally viewed as instrumental in maintaining and improving upon competitive performance. This is a topic that has started to gain some attention, especially in this era of increasingRead MoreThe Impact of Path-Goal Leadership Styles on Work Group5648 Words à |à 23 PagesThe Impact of Path-Goal Leadership Styles on Work Group Effectiveness and Turnover Intention Marva L Dixon,à à Laura Kozloski Hart.à à Journal of Managerial Issues.à Pittsburg:Spring 2010.à Vol. 22,à Iss. 1,à p.à 52-69,6-7à (20à pp.) | Abstract (Summary) Leaders continuously seek to improve organizational performance and enhance work group effectiveness to drive competitiveness and curtail the cost of employee turnover. The diversity of many work groups in the U.S. creates potential benefits and challengesRead MoreThe Impact of Leadership Styles on Job Stress and Turnover Intention5853 Words à |à 24 PagesTHE IMPACT OF LEADERSHIP STYLES ON JOB STRESS AND TURNOVER INTENTION ââ¬â TAIWAN INSURANCE INDUSTRY AS AN EXAMPLE Hsien-Che Lee Department of Business Management, Tatung University 40 ,Sec 3,Chung-Shan N. Rd, Taiwan City, Taiwan ROC hclee@ttu.edu.tw Tsai-Hua Chuang Student of Graduate School of Management, Tatung University 40 ,Sec 3,Chung-Shan N. Rd, Taiwan City, Taiwan ROC teresa5797@yahoo.com.tw ABSTRACT For recentRead MoreThe s Leadership Style And Its Impact On Ch2m Hill Company Essay890 Words à |à 4 Pagesher ambitions to make CH2M Hill one of the best run companies in the world. The essence of this research paper is to give Hinmanââ¬â¢s leadership style and its impact on CH2M Hill Company. In this regard, it depicts her role as a transformational leader at the company I currently work for. Thesis statement: The incorporation of transformational and participative leadership has made CH2M Hill one of the best managed global corporations. Jacqueline Hinman joined CH2M Hill Company in 1988 as a veteran and
Wednesday, May 13, 2020
Legal Aspects of Supply Chain Management Essay - 2010 Words
Legal Aspects of Supply Chain Management Internet has definitively changed the relationships of the company with the different business partners of the supply chain. E-Commerce/E-Business is any ââ¬Ënetââ¬â¢ business activity that transforms internal and external relationship to create values and exploit market opportunities driven new rules of the connected economy.â⬠(Damanpour 2001). It refers to all forms of business activities conducted across the internet. This can include E-tailing, B2B, intranets and extranets, online advertising (e.g. advertising banners), and simply online presences of any form that are used for some type of communication (customer service for example). With internet theâ⬠¦show more contentâ⬠¦Contracting via internet involves some problems and issues such as the validity of a contract in the web, the e-signature, which jurisdiction and law may apply to you and the problem of the taxation. I explored some problems of contracting online. The article 5 chapter II of the EU directive 2000/EC explains that before contracting, general information about the seller must be provided. ââ¬Å"As there is no place to negotiate, a website should make clear where a business is located e.g. by ensuring all main entry and information pages on the site include the companys locationâ⬠and ââ¬Å"give a list of applicable terms and conditionsâ⬠(Elborne 2000). The seller must provide his name, geographic and electronic address, full price etc. and ââ¬Å"where the activity is subject to an authorisation scheme, the particulars of the relevant supervisory authorityâ⬠à ². The buyer must have complete information of the service provider and must be able to contact him rapidly. Basically the law of traditional contract must be applied in the same way in the electronic commerce however in internet is to know when and where the contract is formed. The seller should ââ¬Å"make clear the procedure that must be followed be fore the contract is formedâ⬠(Elborne 2000). The acceptance of the offeree is very important because without acceptance there is no contract. In UK, theShow MoreRelatedAspects Of Supply Chain Management1209 Words à |à 5 PagesAspects of Supply Chain Management Introduction The basic reason for negotiating a contract is to reduce risk, and establish who bears the cost of the risk incurred. Identifying the responsibility of the parties and avoiding finger pointing when a business operation goes bad. Perkins (2008), in studying risk and reward contracts states that risk and reward contracts are highly specialized, and require careful and creative management to create. In constructing a risk and reward contract they takeRead MoreLogistics And Supply Chain Management1379 Words à |à 6 Pagestechnology and the consulting firms that service them, they are scrambling to hire people with Supply Chain expertise, but these experts are hard to come by. Supply Chain Management has moved from a necessary evil to a core competency at companies across industries. I am applying for admission to the Master of Logistics and Supply Chain Management because I want a career in the Supply Chain Management. In particular, I am interested in factors that affect the competitive performance of a businessRead MoreGlobal Nature And Systemic Impact On The Firm s Financial Performance968 Words à |à 4 Pagesfinancial performance, the supply chain arguably faces more risk than other areas of the company. Risk is a fact of life for any supply chain, whether itââ¬â¢s dealing with quality and safety challenges, supply shortages, legal issues, security problems, regulatory and environmental compliance, weather and natural disasters, or terrorism. Thereââ¬â¢s always some element of risk. Companies with global supply chains face additional risks, including, but not limited to, longer lead times, supply disruptions causedRead MoreApple s Supply Chain Is A Huge Reason For Its Success1539 Words à |à 7 PagesAppleââ¬â¢s supply chain is a huge reason for its success. However, just because theyââ¬â¢re prospering now, it doesnââ¬â¢t mean that they can just sit back and rest on their laurels. There may be certain competitors or market forces that come into play in the future which will force Apple to either adapt their ways of doing business or get left behind. High tech industries tend to be very volatile. Doing market research slows down the actual release of their products and could be detrimental dependingRead MoreRole Of Procurement And Supply Chain Management Essay1646 Words à |à 7 PagesRole of Standards in Procurement and Supply Chain Management Procurement and supply chain are two critical aspects of organizational performance. Stiff competition in the market has called for the need for companies to strive towards streamlining their operations to meet the unique demands of their clients. One important path that has been pursued by a number of companies is the adoption of acceptable standards of operations in their procurement and supply chain. The mechanics of purchasing and allRead MoreSwot Analysis : Value Chain1514 Words à |à 7 PagesIntroduction Value chain analysis has proven to be a useful tool for knowing how an organization can create the greatest value for its customers. Michael Porter (1985) in his book competitive advantage states that ââ¬Å"understanding how a business creates value are essential elements for developing a competitive advantage.â⬠[1]. According to porter (1985) value chain is ââ¬Å"the process view of an organization, the idea of seeing an organization as a system, made up of subsystems each with inputs, transformationRead MoreStrategic Management : Mission And Objectives1176 Words à |à 5 Pagestables, all aspects of each category were taken into account to calculate the weighted score. With the SFAS, it only takes the strongest aspects of each category. It also calculates the duration of each factor. As with the other analysis summaryââ¬â¢s, industry standard remains at 3.0. According to the calculation table below, Starbuckââ¬â¢s SFAS, weighted score is at 3.2. This indicates th at although, they are leaders in the industry they need to remain diligent in their strategic management. ReviewRead MoreNike Macro Environmental Analysis Essay699 Words à |à 3 Pages Mahendranath Gunti BUS 510 - Marketing Management Westcliff University Instructor: Dr. Geraldine Goodstone Nike is a global brand headquartered in the United States, Europe, and the Asia Pacific region, specialized in the manufacturing of athletic apparel, footwear, accessories and equipment. Nike products can be found in over 20,000 retail stores. This paper focuses on the six macroeconomic factors (political, Economic, Social, Technology, Legal and Environmental) that impacts Nikeââ¬â¢s productsRead MoreReckitt Benckiser Supply Chain in Practice: Challenges and Recommendations.1465 Words à |à 6 Pagesis ranked as the number two anti-acne treatment worldwide. The company s Air Wick is ranked second in the air care segment worldwide. This strong portfolio of brands significantly fuels the revenues and profitability of the company. In terms of management structure, it is organized in such a way that there are three areas in the world: Europe, which includes Eastern Europe and Turkey; the Americasââ¬âNorth America plus Australia and New Zealand, which are very similar markets; and are called the ââ¬Å"developingRead MoreThe Law And Prescribed Standards Of Behavior1440 Words à |à 6 PagesRunning a business today isnââ¬â¢t just about making as much money as possible. All aspects of what a business does need to be compliant with all of the legal requirements as well as ethically and environmentally responsible. To do this it is necessary to utilize up to date technology and associate with suppliers and companies that have the same standards. 2.0 Corporate Social Responsibility All businesses should comply with all of the laws and regulations that are relevant to the type business
Wednesday, May 6, 2020
Narrative Reporting Free Essays
Narrative reporting and introduction of OFR is an important development in corporate responsibility. The introduction of mandatory OFR made several companies race to meet with the requirements of the law. Subsequently, the OFR was made non mandatory again but awareness has been created. We will write a custom essay sample on Narrative Reporting or any similar topic only for you Order Now Every investor knows that he should look at the OFR of a company he seeks to invest in. If the OFR is missing it raises doubts about the credibility and the intentions of the company .In future even though the mandatory clause has been withdrawn, companies are likely to produce more comprehensive and informative OFR than ever before. Narrative reporting concentrates on presenting events and actions in certain order so that complications and problems are understood. Narrative reporting concentrates on the descriptions, events and facts that pertain to events, identifying the personnel who are involved and the manner in which the sequence of events took place. The OFR (Operating and financial review) is a report included in a companyââ¬â¢s annual report and accounts that is published to meet the requirement of corporate governance that enumerates the operating activities and financial affairs of the company. In the UK the Operating and Financial Review was introduced with the purpose of increasing corporate responsibility. The purpose of this requirement was that social and environmental issues would be described in the OTR and this would provide a wider level of information to the shareholder. In addition, it was expected that the OTR would in a way compel companies to carry out external audit of these issues. Specifically it was intended that the OFR would provide better information to the investors on the likely performance of the companies during the financial year. The contents of the OFR should have an overview of the capital structure of the company and the financial characteristics of the company. In addition, the OFR was required to provide the main risks and uncertainties that faced the company. Further, the OFR was required to have descriptions of the brand strength, market strengths, company reputation and RD, that is the resources that the company enjoyed in the market. Most importantly, the OFR required the companies to disclose the objectives and strategies of the company (Financial Reporting Council 2007). The OFR also required the companies to disclose its relationships with suppliers, customer and employees. In other words the company was required to disclose its relationship with the stakeholders of the company. The company was also required to comment on the reputation of the company, especially in relation to the society and the environment. Moreover, the company was required to comment on the impact the reputation would have on the future performance of the company (Yeldar. R. 2007). In the UK the OFR disclosures have been left to an extent to the directors of the company. Their views on the different points are critical in making the disclosure useful to the company. Moreover, the government has focused on the OFR to fill the lacunae in reporting that traditional financial statements left in the annual reports (Morris. G, McKay. S Oates. A, 2006). If the board is so inclined, then the OFR can simply be relegated to a public relations activity of the company. The point is that if companies choose not to include corporate responsibility issues in their OFR then there may be a need for a mandatory inclusion of corporate responsibility indicators in the OFR. Even though OFR is driving the companies to disclose corporate responsibility issues, the final decision to disclose remains with the companies (Gee. P, 2006). The OFRs are required to honestly disclose the performance, development and the position of the company to help the investor make better decisions. In addition, the OFRs are required to provide the salient factors and the important trend that affect the present financial performance and the future status of the company. It is believed that not too many boards of directors will be eager to make an honest disclosure of these trends. To assess the current state of narrative reporting in the UK let us take a look at the review of narrative reporting published by the ASB on January 15, 2007. The report gives some areas of improvement that is the key performance indicators are missing in narrative reporting, the companies are not careful in their description of the principal risks and uncertainties and do not mention their approaches in mitigating these risks and uncertainties. What is most important is that forward looking information is not disclosed in the narrative reports. The review lauds the companies for reporting an increasing number of environmental, employee and social issues, the companies are giving good description of current developments and present performance and that the companies are providing more or less good descriptions of their current business, markets, strategic plans and objectives (Ploix. H, Charkham. J 2005). The auditors are currently required to comment on whether the OFR is consistent with their knowledge of the Annual Report and accounts. However, it is often seen that currently the companies in their OFR often give spin over substance. The companies over emphasize their favorable performance and avoid mentioning their areas of weaknesses. It is expected that now the companies will be required to product a broader annual report and specify their non financial performance and plans for future. For example, Shell is the biggest emitter of greenhouse gases in the UK and has a share of 23% of all emissions from FTSE 100 companies but this is not mentioned in the OFR of the company. There are no specific plans either to reduce emissions. Similarly, BP and Scottish Power are responsible for 17% of the emissions but this is not clearly mentioned in their annual reports. The lacuna in the law is that the auditor is required to compare the OFR statements with the financial reports and accounts and check if the statements in the OFR are in agreement with financial reports and accounts. This does not require the auditor to mention the omissions that have been made from the OFR nor does the audit of the narrative statement require the board of directors to make statements that disclose the weaknesses of the company. It is clear that in case of Shell, BP and Scottish Power if their emission levels of greenhouse gases are mentioned and the weaknesses in their future plans of reducing these emissions are clearly delineated in their annual reports, then several ethical investors may decide to stay away from these companies (Cowan. N, 2006, p 137). The recent history of the OFR is that the OFR was first introduced in 1993 by the ASB. At that time it was not mandatory. The Companies Act 1985(Operating and Financial Review and Directorsââ¬â¢ Report etc.) Regulations 2005 required quoted companies to prepare a compulsory OFR and other companies to include in their Directorsââ¬â¢ Reports a business review. Small companies were exempt from the requirements of this regulation. The Accounting Standards Board issued an accompanying Reporting Standard that those companies that complied with the Reporting Standard 1 would be presumed to have met the OFR Regulations. In November, 2005 the Chancellor announced that the government wanted to do away with the need for quoted companies to prepare an OFR. In January 2006 the Repeal Regulation of 2005 came into force that did away with the need for quoted companies to make an OFR. The Reporting Standard 1 was converted into a Reporting Statement. This remains just as a guiding statement for companies that decided to produce an OFR (Vilers. C, 2006). In the next month that is February 2006 the government requested suggestions and comments on improving the narrative reporting requirements. In May 2006 the government publicized amendments to the Business Review legislation. Finally, in November 2006, The Companies Act was given the final assent. and the Business Review requirements are now given legal sanction. Gordon Brownââ¬â¢s decision to abandon the mandatory nature of the OFR has been supported by two arguments. First, the government claims it wants to reduce bureaucracy. Second, government feels that the new requirements for business review meet the EU requirements for narrative reporting. This is the official line of the government.. However, there are other reasons that are being given as the reason for the abolition of the compulsory clause. It is claimed that the abolition of the mandatory requirement is offered as an incentive to business to remain in the UK and to attract new businesses to the UK. It is a part of the race to make UK attractive to business investors. Several environmental organizations like Friends of Earth and NGOs have decided to file a law suit against the government to force it to see reason. They see the withdrawal of the mandatory clause as signal to the business sector to continue with their environmentally baneful expansion plans. These organizations had been earlier clamoring for mandatory social and environmental reporting for businesses. From this perspective it seems that Gordon Brownââ¬â¢s decision is not a good one. There are other reasons given to support Gordon Brownââ¬â¢s decision. The claim is that more than 80% of the listed companies will voluntarily comply with the requirements of Reporting Statement and generate OFR statements. Those that do not will face investor reaction and comply with the Reporting Statement requirements. Those that persist in not producing an OFR voluntarily will be perceived as not transparent by the investing public. In addition, the proponents of the abolition of mandatory OFR aver that the size and the complexity of the annual reports daunting to most investors. In 2005 the average length of the annual reports was 71 pages. Adding to this only confuses the shareholders. Finally, the materiality get out clause has made the compulsory OFR ineffective. This has also allowed companies to get out of the need to report their weaknesses. However, we should not write off the OFR as dead. Every business knows that it should have an OFR to inform its shareholder. The need for qualitative, non-financial information has been created in the investors. If a company does not produce an OFR the investor may suspect it several faults. The end result will be that the shareholders will find it prudent to stay away from companies that do not produce a comprehensive OFR. There will be reputed persons who will stay away from the boards of companies that do not produce an OFR that meets the standard prescribed by the ASB. The OFR lives in the business review. The government is not compelling the companies to produce an OFR but the shareholders, investors and other stakeholders will compel the companies to produce and OFR. Environmental organizations and NGOs will take up the matter with companies that do not report on social and environmental issues. Companies that refuse to make OFRs may be shunned by ethical investors, high profile employees and environmentally conscious business partners. The awareness has been created, guidelines have been drafted and the importance of corporate responsibility has been emblazoned. The OFR has taken on a life of its own and even without compulsion it will feature in the annual reports of most UK companies. As the consciousness of investors increases, as the top employees become choosier and as corporations become more environmentally sensitive, OFR will continue to thrive. There is no need to revive the mandatory clause. Enough consciousness has been created to make the corporate sector aware and alive to its reporting responsibilities, the Business Review is adequate for this purpose. Those companies that do not behave in a responsible manner will suffer because they will not be able to sustain the interests of stakeholders that matter. To sum, there are a number of reasons given in support of the abolition of the mandatory clause and a number of reasons are being given for the reintroduction of mandatory requirements for OFR However, the importance of the OFA has been driven home to the companies, the investors and other stakeholders. Financial reporting alone does not give enough information to make a decision and he knows that an OFA is important. The OFA continues to live in the UK corporate world even after the mandatory clause has been abolished. References: Cowan. N, 2006 Risk Analysis and Evaluation, Lessons Professional Publishing.. Financial Reporting Council 2007 ââ¬ËASB Publishes Review of Narrative Reportingââ¬â¢. Retrieved on January 30, 2007 from http://www.frc.org.uk- Gee. P, 2006 UK GAAP for Business and Practice, Elsevier Morris. G, McKay. S Oates. A, 2006 Finance Directorââ¬â¢s Handbook, Elsevier. Ploix. H, Charkham. J 2005 Keeping Better Company: Corporate Governance Ten Years on, Oxford University Press. Vilers. C, 2006, Corporate Reporting and Company Law, Cambridge University Press. 205 -209 Yeldar. R. 2007 Accounting Standards Board Publishes Review of Narrative Reporting, Retrieved on January 30, 2007 from: http://ry.com/news/news/?id=3345 How to cite Narrative Reporting, Essays
Monday, May 4, 2020
Study Future free essay sample
Admit it. Sometimes the projects youââ¬â¢re working on (School, work or both) can get pretty boring monotonous. Wouldnââ¬â¢t I be nice to have a magic button you could push to get someone else to do the boring time consuming stuff for u? At Pfizer such a button is a reality for a large number of employees. As a global pharmaceutical company, Pfizer is continually looking for waist to be more efficient and effective. The company senior director of organization effectiveness, Jordan Cohen, found that the ââ¬Å"Harvard MBA staff we hired to develop strategy and innovate were instead googling and making power pointsâ⬠. Indeed, internal studies conducted to find out just how much time its valuable talent was spending on menial taskââ¬â¢s was startling. The average Pfizer employee was spending 20% to 40% of his or her time on support work (creating documents, typing , doing research, manipulating data, scheduling meetings) an only 60% to 80% on knowledge work( strategy, innovation, networking, collaborating, critical thinking) and the problem was not just on lower levels even the highest level of employees were effective. We will write a custom essay sample on Study Future or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Thatââ¬â¢s when Cohen began looking for solution. The solution he choose turn out to be the numerous knowledge process out sourcing company based in India. Initial test of out sourcing support tasks didnââ¬â¢t go well at all. However, Cohen continued to tweak the process until everything worked. Now Pfizer employees can click the office off the future button in Microsoft outlook, and they are connected to an out sourcing company where a single worker in India receives the request and assign it to a team. The team leader calls the employee to clarify the request. The team leader then emails back a cost specification for the requested work. At this point the Pfizer employee can say yes or No. Cohen says that the benefits offices of the future are unexpected. Time spent on analysis of data has been cut-sometimes in half. The financial benefits are also impressive and Pfizer employees Love it. Cohen says, ââ¬Å"its kind of amazing. I wonder that the used to doââ¬
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