The Legalizing Marijuana Debate Essay - 979 Words

Proposition 19, also known as the Regulate, Control and Tax Cannabis Act, was a controversial new initiative on the November 2, 2010 California statewide ballot, that would have applied a new tax on cannabis. Many reasons arose to contest this new proposition. Firstly, at a state and federal level one does not find a sufficient system currently in place to prevent the dispersion of cannabis to minors. Secondly, drivers already have enough contemporary distractions that will impair their driving such as: alcohol and the use of a cell-phone. Therefore, the government does not need to add marijuana as an additional dangerous influence for drivers. Moreover, once society compromises sanctioning a recognized drug, what will stop the general†¦show more content†¦Nowadays, cell-phones and alcohol consumption are enough distractions to hamper driver’s concentration; we do not need to add legal marijuana as another distraction. Defining, the distraction of marijuana, Szalavitz reports and Kluger (2010) writes,† tetrahydrocannabinol (T.H.C.) that’s behind a pot high’s otherworldly edge-and also behind the paranoia and hallucination†, hallucinations can put someone in crazy places, when one is driving his focus must be on the road and not somewhere else. Enlightening people to the hazard that external influences and specifically cell-phone usage create, researchers Horrey and Wickens (2006) found, â€Å"Cell phone distraction causes 2,600 deaths and 330,000 injuries in the United States every year†. Furthermore, the California Department of Motor Vehicles (1991) writes, â€Å"It is unlawful for anyone with 0.08 percent or more alcohol in his or her blood to drive†, the department deems legally intoxicated, one with blood alcohol content (B.A.C.) of 0.08%. On this note, research from the Center of Disease Control and Prevention (C.D.C) (1993) relaying to the government the numbers of death caused by those driving und er the influence write, â€Å"deaths among young persons aged 10-24 years in the UnitedShow MoreRelatedThe Debate Over Legalizing Marijuana745 Words   |  3 PagesLegalizing marijuana is a concept that can potentially benefit the public as well as the local economies. There has been a nationwide debate on whether marijuana should be legalized or not. The major consensus is that marijuana is not only bad for one’s health, but it is also dangerous to the community. These allegations are not true. Marijuana actually has health benefits that most people overlook. The following essay will address these health benefits in an attempt to present this concept in aRead MoreThe Debate over Legalizing Marijuana967 Words   |  4 PagesMarijuana is a drug which is used for recreational purposes as well as medicinal purposes. However, the medicinal use of marijuana has only been suggested in the recent years because previously it was just a drug which used to be exploited by the teenag ers, adults and others for their own personal purposes. Many people get arrested for illegal possession of marijuana because it is still illegal to have marijuana despite the ongoing debate of making it legal. There are many people who are againstRead MoreThe Debate about Legalizing Marijuana1487 Words   |  6 PagesMarijuana is a hot, controversial topic often heard of in the media. Whether the anchors talk about a drug bust or the drug wars going on in Mexico, there is no doubt marijuana is in the mind of thousands of people. Some cultures use the plant in traditional practices. Smoking the plant was a popular thing in the sixties when hippies protested for peace, love, and being one with oneself. There are other instances where hemp is used in making cleaning products. Some people use the drug for medicalRead MoreThe Debate Over Marijuana And Legalizing It857 Words   |  4 Pagesdeveloped as a writer is being able to write about controversial topics. In English 101 I never wrote about a controversial topic. Because of that I didn’t know how to write a controversial piece. Every essay I have done in English 102 was about marijuana and legalizing it. This is a very controv ersial topic and through English 102 I was able to learn how to effectively write about it. I effectively wrote with my use of ethos. If I am credible during my writing then more people will follow my belief. AnotherRead MoreCharles Stimsons Debate On Legalizing Marijuana1852 Words   |  8 PagesMarijuana is a drug that is an ongoing issue in the United States for many years debating about whether it should be legal, so in 2010 the state of California proposed the â€Å"Tax, Regulate, and Control Cannabis Act† for voters to vote on which would make marijuana illegal. Charles Stimson, a former assistant U.S. Attorney specializing in crime, had strong opinions about what he thought about the issue and was paid to write an article by the Heritage Foundation where he could voice his opinion aboutRead MoreAn Analysis of President Obama’s Remarks about Marijuana Essay624 Words   |  3 PagesBarack Obama made some controversial remarks about legalizing marijuana. Presiden t Obama stated that he did not think that marijuana was â€Å"more dangerous than alcohol† (Remnick). This comment has caused proponents of legalizing marijuana to praise the President, while opponents are criticizing him for seemingly supporting this banned substance. Author Frank James of NPR.org wrote an article entitled â€Å"Obamas Marijuana Remarks Light Up Legalization Debate.† James explains how those who support legalizationRead MoreShould Marijuana Be Legalized? Essay1587 Words   |  7 Pages Legalization of Marijuana Marijuana is not a recent discovery, but the mysteries surrounding the controversial topic in question remains to be disputed since its prohibition. Classified as an illegal substance, cannabis has been restricted in Canada and around the world. Marijuana is a complex drug and its contradictory claims of medical purposes, and harmful destruction, fuel the debate on whether or not the legal constraints of consuming marijuana should be reconsidered. In consideration of academicRead MoreShould Drugs Be Legal?1604 Words   |  7 Pagesthey please which should be applied to what they choose to put in their body. Therefore, with marijuana and all of its benefits and consequences, should it be legal? No! will likely shout from many people s angry and often biased mouths. This is because most people associate a connotative definition as to what that drug is and how it affects people. Most people have this faulty knowledge that marijuana is detrimental to someone’s health because of w hat they associate with it, such as a dropoutRead MoreThe Legalization Of Marijuana Should Not Be Beneficial1240 Words   |  5 PagesThe legalization of marijuana is such a growing debate in the United States, whether it’s on television, in the classroom, or in your own kitchen; you may find yourself debating about it with someone. You are either for it, against it, or indifferent. Either way you still have an opinion of some sort about the legalization of marijuana. Christopher Beach and William Bennett are no different. The release of their article on called â€Å"Legalize Juggernaut† on WeeklyStandard.com timing is perfect sinceRead MoreEssay on What If Marijuana Became Legal?623 Words   |  3 Pages Legalizing medical marijuana would reduce crime rates all across the United States. Marijuana is a widely used drug and a lot of crime revolves around it. A lot of money is spent on marijuana, whether it is at a dispensary in Colorado or police officers spending large amounts of money on drug busts. Police officers want a strong relationship with the community they serve. Police want to catch real criminals who hurt real victims. It would save departments a lot of money because they are wasting

The Geriatric Population Is Surging Across The World

The geriatric population is surging across the world, â€Å"Triumphant advances in medicine combined with economic and social development are resulting in increased longevity in the world’s population† (Hanson, 2014, p. 225). Aging is an undeniable process, and though there are techniques and procedures that may minimize the appearance of aging, the biological process itself, is unpreventable. However, it is ironic that the Western world correlates and glorifies youth and beauty whilst it simultaneously holds prejudiced views against the aging process, even though every individual ages with every second that passes. Stereotypes are exaggerated, prejudiced, and distorted generalizations that degrade individual uniqueness by creation of†¦show more content†¦The cost of living especially in Canada is a steady increase and as a result, job security is of paramount importance for everybody in the general public. Without a stable and proper income, an individual†™s existence is difficult to maintain. Additional stressors such as an increase in age and stereotypical views embedded into society are elements that must be overcome. This is the situation older adults are facing in the Canadian society nowadays. By definition, â€Å"ageism refers to prejudice against older people† (Novak, Campbell Northcott, 2014, p. 7). Ageism is relevant to the discussion of why it is more difficult for the senior population to access jobs to maintain living expenses. Stereotypical beliefs such as â€Å"older adults are commonly considered to be less productive and less trainable and promotable than younger workers,† (Malinen Johnston, 2013, p. 446) can increase discrimination leading to barriers in job access. This results in a forced and early retirement, which can be causative factors of lowered standards of living for the elderly (Noelke Beckfield, 2014). Age discrimination can also impede on opportunities for employment due to stereotypes employers might have during job application evaluations and interviews (Irving, 2015). Despite evidence that there are â€Å"no performance differences between older and younger employees, or that older workers even outperform younger employees, discrimination against older workers can be evident†

I Am Pro Life. Essay - 2039 Words

I am pro-life. I always have and always will stand firm in my beliefs. I will especially remain firm in my belief that no innocent human being, especially unborn, should have to pay the consequences of someone else’s actions. Realizing that many others tend to disagree, I do not shove my opinions on abortion on anyone. However, being criticized for having the opinion that I do happens all the time and has only solidified my beliefs on this touchy subject of societal controversy. Growing tired of many endless conversations and arguments in my life, I interviewed a member of Planned Parenthood to get more insight on opposing opinions of mine. I am an abled, white, middle-class female. I was not raised in an extremely religious household. I was raised to think and act upon what I believed to be right, always keeping in mind that what may be â€Å"right† to me may not be to others. I was taught and told so many times that there will always be rewards as a result of good ch oices, but there will also always be consequences as a result of poor choices and actions. I was made to believe that I can get what I want in life through hard work and dedication, but to never step on others to get what you want. The ideas and morals, such as these, go hand-in-hand with the topic of and stances on abortion. My stance on abortion comes with my upbringing as well as personal experiences. I have done a lot of thinking about this topic and I continue to stand extremely firm in my belief that noShow MoreRelatedPro Life And Are Most Republicans Pro Choice1637 Words   |  7 PagesProposal Are most republicans pro-life and are most democrats pro-choice? The meaning of pro-life is the concept a person believes that abortion is wrong and everyone no matter how big or small has the right to live. While the meaning of pro-choice is the concept a person believes that abortion should be legal and a private decision between a woman and her physician. Many individuals have the belief that â€Å"tradionialists† republicans are pro-life and â€Å"modernists† democratics are pro- choice. What if thatRead MoreIssue Proposal on Abortion1276 Words   |  6 PagesEnglish 1302-036 February 7, 2013 Everyone is Entitled to Their Constitutional Rights As a catholic-born child, I was brought up with very strict rules laid out before me that would help me with choices such as the holy sacrament of confirmation and marriage to the very controversial choice of abortion. Since I’ve been Catholic all of my life, I am a firm believer in the pro-life choice, which is advocating full legal protection of embryos and fetuses along with high opposition to the legalizationRead MorePro Choice And Pro Life1231 Words   |  5 PagesBrooke Weaver Mrs. Denton Honors 8th LA January 20, 2016 Research Paper I-Search: What I Learned About My Topic Abortion is one of the most heated moral debates all over the United States. Many people say that your view on the topic shows the type of person you are. There are two sides to this debate: Pro-Choice and Pro-life. In this case when you are Pro-choice you believe that women have the custody and rights to do what they want to with their baby. While many people believe in the women’s rightRead More Abortion is a Choice Essay1258 Words   |  6 Pagesyears to come. Before I get into the sides of abortion we must first define abortion. Abortion is the destruction of the fetus, or unborn child while the child is still in the mothers womb. There are two sides to this abortion topic. The Pro-life which is those who are against abortion altogether and the Pro-choice those who believe it is the womens right to choose if she wants to have an abortion. Personally, I am Pro-choice and I believe there are many clear-cut reasons to why I take this stand.Read MoreThe World Of Life - Original Writing Essay1267 Words   |  6 Pageschoice to bring me to life has wrought on yourself. â€Å"Still thou canst listen to me, and grant me thy compassion. By the virtues I once possessed, I demand this from you† (Shelley 67). Though my English is poor, I will do my best to communicate my points to you, and I ask you to listen, for our strife has long been sustained. Should you, creato r, have forced yourself to breathe life into a creature that will feel no joy in the world of humans, be shunned and victimized for life? Oh why, creator, didRead MoreThe Topic of Abortion Rights772 Words   |  3 PagesI have chosen the topic of abortion rights for my final paper. It is a very controversial and touchy subject, Roe v. Wade has been making headlines for years. The reason that I have chosen this topic is because I am a Christian and the stance of my religion is that abortion is wrong. However, I feel like Christians often tell people not do thing without fully examining the topic; they often do not have enough background knowledge on the situation. They try to view the world as wrong and right, blackRead More Abortion Essay1164 Words   |  5 PagesAbortion From 1973 to 1987, over 22 million abortions have been performed. Pro-lifers would call that a terrible waste of humanlife. True, 22 million lives were taken, but I believe that we are better off without those. Websters dictionary defines abortion as the expulsion of anonviable fetus. Abortion might possibly be the mostcontroversial topic right now. Im sure by now that youve heard of all the different types ofabortion. Almost all abortions performed in the US are surgicalabortionsRead More Pro-Choice vs. Pro-Life: No Correct Answer Essay1707 Words   |  7 Pageswhether anything from an ovum to a fetus is a form of human life. No person knows this information, but it is debated among the two major sides on this issue. The first side are those that believe abortion should be forbidden at all times, they are called pro-life. The second are those that believe that it is a woman’s right to choose. They are called pro-choice. There are many arguments that fall behind each position. Those who argue for pro-choice, the right of the woman to choose, have a strongerRead MoreIs Abortion Morally Acceptable?852 Words   |  4 Pagesoperations in the US today. People that are â€Å"pro-choice† believe that it is acceptable for a woman to have the choice to abort her baby or not. They say that it is the legal right of a woman. They believe that a baby is not yet alive until it has been born. It is argued that a woman should be able to do what is best for her future, health, and body. On the other side of the spectrum lies people that are â€Å"pro-life†. They believe that human life begins at the time of conception and that killingRead MoreThe Issue Of Abortion And Abortion876 Words   |  4 Pagescontroversial issues that exists in our society. An abortion is a medical procedure that terminates a pregnancy before 24 weeks. People who call themselves Pro-Life feel that it is the government’s responsibility to preserve all life, regardless of concerns for the pregnant woman’s health, or for the quality of the life of the child. The Pro-Choice argument feels that a woman should have the choice when it comes to what they wish to do with their own reproductive organs. There s many arguments

Essay on Medias Portrayal Of Beauty Affects Socieites Youth

Beauty is an omnipresent characteristic that plagues societies’ youth today because mainstream media has them convinced that inner beauty is less important than physical beauty. Unfortunately the media’s warped sense of what true beauty is has been advertised in such a way that it has become an unhealthy observation for today’s youth. The expectations of beauty are unacceptably stereotyped, which creates unrealistic idealistic goals for our young people to try to achieve. It is crucial to mention that as a society we need to strive toward teaching the proper balance between both aspects of beauty to offset the portrayal of what true beauty is by the media. The media has created an obsession with perfection through the use of†¦show more content†¦Ã¢â‚¬Å"While more common among girls, eating disorders also affect boys† (New, 2011, pg 1). Part of this problem is because of pressures from the media, peer pressure and the lack of education about the changes their bodies will inevitably go through during puberty and why. Teenagers are more vulnerable to social and peer pressure, which may explain the rates of eating disorders in societies youth (Tree, 2012). This is the reason that our society must work to educate our youth to help ensure that they become proud of whom they are, no matter what size or shape they are. â€Å"Adolescence is a time of sexual identity and the need for independence that conflicts with the rules and expectations set by others† (New, 2012, pg 2). Though there are a large amount of contributors toward the rising rates of teen self-injury and suicides, it is clear that the media pressures to perfection are one contributor. Preteens and adolescents ages 12 to 19 are engaging in self injury in record numbers then in previous years (Pavlishina, 2012) and â€Å"suicide is the third-leading cause of death for 15- to 24-year-olds, according to the Centers for Disease Control and Prevention, after accidents and homicides† (New, 2012, pg 1). Each day our youth is exposed to commercialized images of what the male and female body should look like and these extremely serious issues are not helped by the impossible portrayals of perfection by

Nature of Financial Management Free Essays

string(109) " determine whether an investment – proposed or existing – contribute positively to the owner’s wealth\." Chapter 3 – NATURE OF FINANCIAL MANAGEMENT What is finance Finance can be defined as he art and science of managing money. Virtually all individuals and organizations earn or raise money and spend or invest money. Finance is concerned with the process, institutions, markets and instruments involved in the transfer of money among individuals, business and governments. We will write a custom essay sample on Nature of Financial Management or any similar topic only for you Order Now Nature of Financial Management Financial Management as an academic discipline has undergone fundamental changes as regard its scope and coverage. In the earlier years, it was treated synonymously with the raising of funds. In the later years, its broader scope, included in addition to procurement of funds, efficient use of resources. Scope of Financial Management Financial is broadly concerned with the acquisition and use of funds by a business firm. The important tasks of financial management, as related to the above, may be categorized as follows: – A. Financial Analysis, Planning and Control †¢ Analysis of financial condition and preference †¢ Profit Planning †¢ Financial forecasting †¢ Financial Control B. Investing †¢ Management of current assets (cash, marketable securities, receivables and inventories) †¢ Capital Budgeting (identification, selection and implementation of capital projects) †¢ Managing of mergers, reorganizations and divestments C. Financing †¢ Identification of sources of finance and determination of financing mix †¢ Cultivating sources of funds and raising funds †¢ Allocation of profits between dividends and retained earnings Important Topics in Financial Management Table 1. 1 Balance Sheet and Topics in Financial Management Share Capital EquityCapital Structure and Cost of Capital Preference Reserves and Surplus Debentures Unsecured Loan Current Liabilities ProvisionsWorking Capital Trade CreditorsFinancing Policy Provisions Fixed Assets (Net)Capital Budgeting Gross Block Less Depreciation InvestmentSecurity Analysis Current Assets, Loans and Advances Cash and bank balancesCash Management ReceivablesReceivables Management InventoriesInventory Policy Loans and Advances Miscellaneous Expenditure and Losses Table 1. 2 Income statement and Topics in Financial Management Net SalesRevenue risk Cost of goods Sold Materials and stocks Wages and Salaries Other Manufacturing Expenses Gross ProfitGross profit margin Operating Expenses Selling and Administration Expenses DepreciationDepreciation Policy Operating Profit Non operating surplus / deficit Earnings before interest and taxBusiness risk InterestFinancial risk Profit before tax TaxTax planning Profit after taxReturn on equity DividendsDividend policy Retained Earnings Goals / Objectives of Financial Management- Traditional Approach – It has been traditionally been argued that the objective of a company is to earn profit. This means that the finance manager has to make decision in a manner that the profit is maximised. Each alternative, therefore, is to be seen as to whether or not it gives maximum profit. Profit maximization objective gives rise to a number of problems as below: – i) Profit maximization concept should be considered in relation to risks involved. There is a direct relationship between risk and profit. Many risky propositions yield high profit. Higher the risk, higher is the possibility of profits. If profit maximization is the only goal, then risk factor is altogether ignored. i) Profit maximization, as an objective does not take into account time pattern of return. Proposal A may give a higher amount of profits compared to proposal B, yet if the returns begin to flow say 10 years later, proposal B may be preferred which may have lower overall profits but the returns flow is more early and quick. iii) Profit maximization, as an objective is too narrow. It fails to take into acc ount the social considerations as also the obligations to various interests of workers, consumers, society as well as ethical trade practices. Further, most business leaders believe that adoption of ethical standards strengthen their competitive positions. iv) Profits do not necessarily result in cash flows available to the stockholder. Owners receive cash flow in the form of either cash dividends paid to them or proceeds from selling their shares for a higher price than paid initially. Modern Approach – The alternative to profit maximization is wealth maximization. This is also known as Value maximization or Net Present Worth maximization. Value is represented by the market price of the company’s equity shares. Prices in the share market at a given point of time, are the result of many factors like general economic outlook, particular outlook if the companies under consideration, technical factors and even mass psychology. However taken on a long-term basis, the share market prices of a company’s shares do reflect the value, which the various parties put on a company. Normally, the value is a function of two factors (i) The likely rate of earnings per share of a company (EPS) and (ii) The capitalization rate EPS are calculated by dividing the periods total earnings available for the firm’s common shares by the number of shares of common shares outstanding. The likely rate of earnings per share (EPS) depends on the assessment as to how profitably a company is going to operate in the future. The capitalisation rate reflects the liking of the investors for a company. If the company earns a higher rate of earning per share through risky operations or risky financing pattern, the investors will not look upon its shares with favour. To that extent, the market value of the shares of such a company will be low. If a company invests its fund in risky ventures, the investors will put in their money if they get higher return as compared to that from a low risk share. The market value of a firm is a function of the earning per share and the capitalisation rate. Suppose the Earning per share are expected to be Rs. 7 for a share, and the capitalisation rate expected by the shareholder is 20 per cent, the market value of the share is likely to be 7 7 x 100 —— = ———- = Rs. 5 20% 20 This is so because at this price, the investors have an earning of 20%, something they expect from a company with this degree of risk. The important issues relating to maximizing share prices are Economic Value Added (EVA) and the focus on stakeholders. Economic Value Added (EVA) is a popular measure used by many firms to determine whether an investment – proposed or existing – contribute positively to the owner’s wealth. You read "Nature of Financial Management" in category "Essay examples" EVA is calculated by subtracting, the cost of funds used to finance or investment from its after-tax-operations profits. Investments with positive EVA increase shareholder value as those with negative EVA reduce shareholders value. For example, the EVA of an investment with after tax operations profits of Rs. 510,000 and associated financing costs of Rs. 475,000 would be Rs. 35,000 (i. e. Rs. 410,000 – 375,000) Because this EVA is positive, the investment is expected to increase owner wealth and is therefore acceptable. What about Stakeholders? Stakeholders are group such as employees, customers, suppliers, creditors, owners and others who have a direct economic link to the firm. A firm with a stakeholder focus consciously avoids actions that would prove detrimental to stakeholders. The goal is not to maximize stakeholder well being but to preserve it. It is expected to provide long run benefit to shareholders by maintaining positive stakeholder relationships. Such relationship should minimize stakeholder turnover, conflicts and litigation. Clearly, the firm can better achieve its goal of shareholder wealth maximization by maintaining cooperation with other stakeholders rather than having conflict with them. The Role of ethics – Ethics is standards of conduct or moral judgment. Today the business community in general and the financial community in particular are developing and enforcing ethical standards, purpose being to motivate business and market participants to adhere to both the letter and the spirit of laws and regulations concerned with business and professional practice. An effective ethics program is believed to enhance corporate value. An ethics program can reduce potential litigation and judgment costs, maintain a positive corporate image, and build shareholders confidence, and gain the loyalty, commitment and respect of the firms stakeholders. Such actions, by maintaining and enhancing cash flow and reducing perceived risk, can positively affect the firm’s share prices. Ethical behaviour is therefore viewed as necessary for achieving the firm’s goal of owner wealth maximization. Place of Finance function in the organization structure: – The finance function is almost the same in most enterprises. The details may differ but the important features are universal in nature. The finance function occupies such a major place that it cannot be the sole responsibility of the executive. The important aspects of the finance function have to be carried on by the top management i. e. the Managing Director and the Board of Directors. It is the Board of Directors, which makes all the material final decisions involving finance. Financial management in many ways is an integral part of the jobs of managers who are involved in planning, allocation of resources and control. The responsibilities for financial management are disposed throughout the organization. For example: †¢ The engineer, who proposes a new plant, shapes the investment policy of the firm. The marketing analyst provides inputs in the process of forecasting and planning. †¢ The purchase manager influences the level of investment in inventories. †¢ The sales manager has a say in the determination of receivable policy. †¢ Departmental managers, in general, are important links in the financial control system of the firm. The chief financial officer (CFO) is basically to assist the top manageme nt. He has an important role to contribute to good decision making on issues, which involve all the functional areas of the business. He must clearly bring out financial implications of all decisions and make them understood. CFO (his designation vary from company to company) works directly under the President or the Managing Director of the company. Besides routine work he keeps the Board of Directors informed about all the phases of business activity, including economic, social and political developments affecting the business behaviour. He also furnishes information about the financial status of the company by reviewing from time to time. The CFO may have different officers under him to carry out his functions. Broadly, the functions are divided into two parts. (i) Treasury function (ii) Control function Treasury function (headed by financial manager) is commonly responsible for handling financial activities, such as financial planning and fund raising, making capital expenditures decisions, managing cash, managing credit activities, managing the pension fund and managing foreign exchange. The control function (headed by Chief Accountant / Financial Controller) typically handles the accounting activities such as corporate accounting, tax management, financial accounting and cost accounting. The treasurer’s focus tends to be more external, the controllers focus more internal: – BOARD OF DIRECTORS Managing Director/President V. P ProductionV. P FinanceV. P Sales Treasurer Controller Credit Cash Banking PortfolioCorporate Taxes Internal Budgeting Management Management Relation ManagementGeneral Audit Accounting Cost Accounting Fig 1. 1 Organization chart of finance function Relationship of field of finance with economics – The field of finance is closely related to economics. Financial managers must understand the economic framework and be alert to the consequences of varying levels of economic activity and changes in economic policy. They must be able to use economic theories as guidance for efficient business operation. Examples include supply-demand analysis, profit-maximizing strategies, and price theory. The primary economic principle used in managerial function is marginal analysis, the principle that financial decisions should be made and actions taken only when the added benefits exceed the added costs. Nearly all-financial decisions ultimately come down to an assessment of their marginal benefits and marginal costs. Relationship to Accounting – The firm’s finance (treasurer) and accounting (controller) activities are closely related and generally overlap. Normally managerial finance and accounting are not often easily distinguishable. In small firms the Controller often carries out the finance function and in large firms many accountants are also involved in various finance activities. There are two basic differences between finance and accounting: – i) Emphasis on cash flows: – The accountant’s primary function is to develop and report data for measuring the performance of the firm, assuming its financial position and paying taxes using certain standardized and generally accepted principles. The accountant prepares financial statements based on accrual basis. The financial manager places primary emphasis on cash flows, the inflow and outflow of cash. ii) Relating to decision-making: – Accountants devote most of their operation to the collection and presentation of financial data. The primary activities of the financial manager in addition to ongoing involvement in financial analysis and planning are making investment decisions and making financing decisions. Investment decisions determine both the mix and the type of assets held by the firm. Financing decisions determine both the mix and the type of financing used by the firm. However the decisions are actually made on the basis of cash flow effects on the overall value of the firm. Interface with other Functions – Finance is defined as the lifeblood of an organization. It is a common thread, which binds all the organizational functions as each function when carried out creates financial implications. The interface between finance and other functions can be described as follows: – Manufacturing Finance – i) Manufacturing function necessitates a large investment. Productive use of resources ensures a cost advantage for the firm. i) Optimum investment in inventories improves profit margin. iii) Many parameters of the production cost having effect on production cost are possible to control through internal management thus improving profits. iv) Important production decisions like make or buy can be taken only after financial implications have been considered. Marketing Finance – i) Many aspects of marketing management have financia l implications e. g. hold inventories to provide off the shelf service to customers and thus increase sales; extension of credit facility to customers to increase sales. i) Marketing strategies to increase sales have additional cost impact, which needs to be weighed carefully against incremental revenue. Personnel Finance – In the global competitive scenario business firms are moving to leaner and flat organizations. Investments in Human Resource Development are also bound to increase. Restructuring of remuneration structure, voluntary retirement schemes, sweat equity etc. have become major financial decisions in the area of human resource management. Strategic Planning – Finance – Finance function is an important tool in the hands of management for strategic planning and control on two counts – i) The decision variables when converted into monetary terms are easier to grasp. ii) Finance function has strong inter-linkages with other functions. Controlling other functions through finance route is possible. Methods and Tools of Financial Management – i) In the area of Financing – Funds are procured from long-term sources as well as short-term sources. Long-term funds may be made available by owners, i. e. hareholders, lenders through issue of debentures / bonds, from financial institutions, banks and public at large. Short-term funds may be procured from commercial banks, suppliers of goods, public deposits etc. The finance manager has to decide on optimum capital structure with a view to maximize shareholder’s wealth. Financial leverage or trading on equity is an important method by which return to shareholders can be increased. ii) F or evaluating capital expenditure (investment) decisions, a finance manager uses various methods such as average rate of return, payback, internal rate of return, net present value and profitability index. ii) In the area of working capital management there are various methods for efficient utilization of current resources at the disposal of the firm, thus increasing profitability. The centralized method of cash management is considered a better method of managing liquid resources of the firm. iv) In the area of dividend decision, a firm is faced with the problem of declaring dividend or postponing dividend declaration, a problem of internal financing. There are tools to tackle such situation. v) For the evaluation of a firm’s performance there are different methods. For example, ratio analysis is a popular technique to evaluate different aspects of a firm. vi) The main concern of the finance manager is to provide adequate funds from the best possible source, at the right time and the minimum cost and to ensure that the funds so acquired are put to best possible use through various methods / techniques are used to determine that funds have been procured from the best possible available services and the funds have been used in the best possible way: Funds flow and cash flow statements and projected financial statements help a lot in this regard. The changing role of Financial Management in India – Modern Financial Management has come a long way from the traditional corporate finance. The finance Manager is working in a challenging environment, which changes continuously. As the economy is opening up and global resources are being tapped, the opportunities available to finance manager have no limits. At the same time one must understand the risk in the decisions. Financial management is passing through an area of experimentation and excitement, as a large part of the finance activities carried out today were not heard a few years ago. A few instances are enumerated below: – i) Interest rates have been deregulated, further interest rates are fluctuating, and minimum cost of capital necessitates anticipating interest rate movements. ii) Rupee has become freely convertible in current account. iii) Optimum debt equity mix is possible. The firms have to take advantage of the financial leverage to increase the shareholders wealth. However financial leverage entails financial risk. Hence a correct trade off between risk and improved rate of return to shareholders is a challenging task. v) With free pricing of issues, the optimum price of new issue is a challenging task, as overpricing results in under subscription and loss of investor confidence whereas under pricing leads to unwarranted increase in number of shares and also reduction of earnings per share. v) Maintaining share prices is crucial. In the liberalized scenario the capital markets is the important avenue of funds for business. The dividend and bonus p olicies framed, has a direct bearing on the share prices. i) Ensuring management control is vital especially in the light of foreign participation in equity (which is backed by huge resources) making the firm an easy takeover target. Existing managements may loose control in the eventuality of being unable to take up the share entitlements. Financial strategies to prevent this are vital to the present management. Forms of Business Organization – The three most common forms of business organization are the sole proprietorship, the partnership and the company. Other specialized forms of business organizations also exist. Sole proprietorship are the most In terms of total receipts and net profits corporate form of business dominate. Sole Proprietorship – A sole proprietorship is a business owned by one person who runs for his own profit. Majority of the business firms are sole proprietorships. The typical sole proprietorship is a small business e. g. bakeshop, personal trainer or plumber. The majority of sole proprietorship is found in the wholesale, retail, service and construction industries. Typically, the proprietor along with few employees runs the business. He raises capital from personal resources or by borrowing and is responsible for all business decisions. The sole proprietor has unlimited liability, towards creditors not restricted to the amount originally invested. The key strengths and weaknesses of sole proprietorship are given in table 1. 3. Partnership – A partnership firm is a business run by two or more persons for profit. Partnership accounts for the next majority of business and they are typically larger than sole proprietorship. Finance, legal and real estate firms often have large number of partners. Most partnerships are established by a written contract known as ‘Deed of Partnership’. In partnership, all partners have unlimited liability for all the debts of the partnership. In India, partnership is governed by the Partnership Act, 1932. Strengths and weaknesses or partnerships are summarized in Table 1. 3. Company Form – A company form of business is a legal entity, separated from the owners, with perpetual succession. Just like an individual, the company can sue and be sued, make and be party to contracts and acquire property in its own name. The company form of organization is the dominant form of business organization in terms of receipts and profits. Although, corporations are involved in all types of business, manufacturing corporation account for the largest portion of corporate business receipts and net profits. The key strengths and weaknesses of corporate form are summarized in Table 1. 3. The owners of the company are its shareholders, whose ownership is evidenced by either common shares or preference shares. Shareholders get a return by receiving dividends i. e. periodic distribution of earnings or gains through increase in share price. Owner’s liability is limited to the amount paid on their shares. Shareholder elects the Board of Directors through vote. The Board of Directors has the ultimate authority in running the organization including making the general policy. The President or Chief Executive Office (CEO) is responsible for managing day to day operations and carrying out the policies established by the Board. The CEO is required to report periodically to the firm’s board of directors. The corporate form of business are subject to strict control by Regulatory Agencies including Companies Ac, 1956, SEBI, etc. Table I – Strengths and weaknesses of the common forms of business organizations Sole Proprietorship |Partnership |Company | | | | | |Strengths | | | | | | | |Owners receive all profits and incurs all losses |Can raise more funds than the sole proprietorship |Owners liability is limited to the extent paid on | | |their shares | |Low organizational costs |Borrowing powers enhanced by more owners | | | | |Can achieve large size via sale of shares | | |More available manpower and managerial skill | | |Income is i ncluded and taxed on owners personal tax | |Ownership (share) is readily transferable | |return |Income included and mixed on individual partner’s tax | | | |return |Long life of the firm | |Independence | | | | | |Can have professional managers | |Secrecy | | | | | |Has better access to financing | |Ease of dissolution | | | | | |Receives some tax advantage | | | | | | | | | |Weaknesses – |Owners have unlimited liability and may have to cover | | | |debts of other partners |Taxes generally higher, because corporate income is | |Owner has unlimited liability towards debt of the firm| |taxed and dividends paid to owners are also taxed. | |Partnership is dissolved when partner dies |(the latter has been exempted at the hands of the | |Limited fund raising power limits growth | |shareholders in India) | | |Difficult to liquidate or transfer partnership | | |Proprietor must be jack-of-all trades | |More expensive to organize than other forms of | | | |business | |Difficul t to give employees long-run career | | | |opportunities | |Subject to greater control by regulating authorities | | | | | |Lacks continuity when proprietor dies or unable to | |Lacks secrecy since the shareholders must receive | |operate | |financial reports at periodic intervals | | | | | Limited Liability Partnership A limited liability partnership (LLP) is a partnership in which some or all partners (depending on the jurisdiction) have limited liability. It therefore exhibits elements of partnerships and corporations. In an LLP, one partner is not responsible or liable for another partner’s misconduct or negligence. This is an important difference from that of an unlimited partnership. In an LLP, some partners have a form of limited liability similar to that of the shareholders of a corporation. In some countries, an LLP must also have at least one â€Å"general partner† with unlimited liability. Unlike corporate shareholders, the partners have the right to manage the business directly. In contrast, corporate shareholders have to elect a board of directors under the laws of various state charters. The board organizes itself (also under the laws of the various state charters) and hires corporate officers who then have as â€Å"corporate† individuals the legal responsibility to manage the corporation in the corporation’s best interest. An LLP also contains a different level of tax liability from that of a corporation. Limited liability partnerships are distinct from limited partnerships in some countries, which may allow all LLP partners to have limited liability, while a limited partnership may require at least one unlimited partner and allow others to assume the role of a passive and limited liability investor. As a result, in these countries, the LLP is more suited for businesses where all investors wish to take an active role in management. There is considerable confusion between LLPs as constituted in the U. S. nd that introduced in the UK in 2001 and adopted elsewhere  Ã¢â‚¬â€ see below  Ã¢â‚¬â€ since the UK LLP is, despite the name, specifically legisl ated as a Corporate body rather than a Partnership. India The Limited Liability Partnership Act 2008 was published in the official Gazette of India on January 9, 2009 and has been notified with effect from 31 March 2009. However, the Act, has been notified with limited sections only. The rules have been notified in the official gazette on April 1, 2009. The first LLP was incorporated in the first week of April 2009. 1. In India, for all purposes of taxation, an LLP is treated like any other partnership firm. 2. be limited to their agreed contribution in the LLP. 3. Further, no partner would be liable on account of the independent or unauthorized actions of other partners, thus allowing individual partners to be shielded from joint liability created by another partner’s wrongful business decisions or misconduct. 4. LLP shall be a body corporate and a legal entity separate from its partners. It will have perpetual succession. Indian Partnership Act, 1932 shall not be applicable to LLPs and there shall not be any upper limit on number of partners in an LLP unlike an ordinary partnership firm where the maximum number of partners can not exceed 20, LLP Act makes a mandatory statement where one of the partner to the LLP should be an Indian. 5. Provisions have been made for corporate actions like mergers, amalgamations etc. 6. While enabling provisions in respect of winding up and dissolutions of LLPs have been made, detailed provisions in this regard would be provided by way of rules under the Act. 7. The Act also provides for conversion of existing partnership firm, private limited company and unlisted public company into a LLP by registering the same with the Registrar of Companies (ROC) 8. Nothing Contained in the Partnership Act 1932 shall effect an LLP. 9. The Registrar of Companies (Roc) shall register and control LLPs also. 10. The governance of LLPs shall be in electronic mode based on the successful model of the present Ministry of Corporate Affairs Portal. Chapter Assignments – 1. What are the tasks of Financial Management? 2. Discuss the salient features of the traditional approach to Corporation Finance. 3. Discuss the distinctive features of modern approach to Corporation Finance. 4. What is the normative goal of financial management? 5. â€Å"Financial Management is an integral part of the jobs of all managers. Hence it cannot be entrusted to a staff Department†. Discuss. 6. Discuss some of the problems the financial managers in a developing country like India have to grapple with. 7. Draw a typical organization chart highlighting the finance function of a company. 8. Which of the following functions should be the responsibility of a Finance Manager? i) Maintaining the books of account. ii) Negotiating loans with banks iii) Preparation of cost statements iv) Conducting of internal audit v) Analysis of new projects i) Ensuring that enough cash is available at all the branches and factories of the company. vii) Assisting the management in taking a decision regarding the quantum of dividend. viii) Negotiating under-writing agreements in case of new issues ix) Preparing the financi al statements. x) Deciding about change in the policies regarding recruitment. xi) Decision on administrative practices. xii) Change in marketing and advertising techniques routine. 9. Which of the following statements are true? i) It is the job of the finance manager to approve all payments. ii) The finance manager has to keep a proper balance in the procurement and use of funds. iii) Acquisition of fixed assets is of no concern to the finance manager. v) It is always advisable to distribute the total amount of profit as dividend. v) Since it is crucial that all sections of the business have adequate cash, it is a good policy to give each sections of the business double the amount of cash that they normally require so that they can meet even emergencies. vi) Debentures and loans from financial institutions are very important sources of long-term funds. vii) It is better if no credits are given to the customers since this would mean that no amounts are tied up in sundry creditors. v iii) In a period of rising prices, it is better to stock as much as raw material as possible, irrespective of the cost of procuring funds. x) A proper capitalization ensures that there is a balance between long-term funds and short-term funds and also proper ratios are maintained between the various sources of funds. 10. Which of the following statements do you agree? i) Financial management is essential only in private sector enterprise. ii) Only capitalists have to bother about money. The bureaucrat is to administer and not manage funds. iii) The public administrators in our country must be given a basic understanding of essentials of finance. iv) A state owned Transport Company must immediately deposit in the bank all its takings. v) â€Å"Financial Management is counting pennies. We do not believe in such miserly attitude†. vi) â€Å"Finance function is important as any other function in an organization†. How to cite Nature of Financial Management, Essay examples

Leadership in Jason Bourne-Free-Samples for Students-Myassignment

Question: Discuss about the Leadership and Leadership Qualities based on a Film and a Book. Answer: Introduction Jason Bourne (2016) is the fifth installment of Bourne series directed by Paul Greengrass along with Matt Damon in the lead (Jason Bourne 2015). Matt Damon comes back into Bourne series after a gap of nine years. He plays the title role of the series for the fourth time and is accompanied by Tommy Lee Jones, Alicia Vikander, Julia Stiles and Vincent Cassel in pivotal roles. The film is set on a highly classified operative mission of CIA to eliminate a number of ex-agents because their survival can result into a serious threat to the United States. In this field of security operations and national intelligence, leadership is regarded as the most important part of both field and tracking operations. This film displays three different leaders, who deal with their subordinates in different levels (Lussier and Achua 2015). Alicia Vikanders character Heather Lee is a Cyber Security Specialist, who deals with major field operatives through his insights and other form of directions. Among th ese three characters, Alicia Vikanders Heather Lee has more flesh and blood in it (Jason Bourne 2015). It is one of the lead characters with the maximum amount of screen time after Bournes character. She is a strong female leader, who not only leads her team in a proper way; she also stands by her principals until very end. Synopsis of Leadership in Jason Bourne The movie deals with a specific secret covert operation of searching and assassinating an ex field agent of CIA, Jason Bourne. Jason Bourne (2016) begins with a different time setting which is a number of years after the incidents which took place in The Bourne Ultimatum (2007) (Jason Bourne 2015). The film begins in the Greece-Armenia border where Bourne survives as a private street fighter. After exposing the classified Blackbriar operations, Bourne has isolated himself for many years (Jason Bourne 2015). Erstwhile, Nicky Parson another ex-CIA hacks into the CIAs server in order to seek information about the classified information and to expose CIAs unethical operations to the outside world. However, Heather Lee a PHD in computer science from Stanford and a newly appointed CIA Cyber Security Specialist tactfully tracks her down and gets access to her identity (Jason Bourne 2015). In the process of searching stored information, Heather discovers that Nicky was related to Jason Bourn e. On the other hand Nicky acquired certain information about an old program of the CIA which was known as Tradestone program. This program was started by Bournes father who got killed in Beirut in an alleged terrorist attack. The remaining version of the film deals with the owner of Deep Dream (a social networking site) and how he sold private user information to the US intelligence, an ex-Blackbriar assassin codenamed Asset and Jason Bournes avenge on Dewy who is responsible for Bournes fathers death. Heather Lee has a lot of leadership qualities in her. She rightfully acts in Interpersonal roles, when conversing with other operatives and when she rests her case of bringing back Bourne after reading the previous research documents about him (Jason Bourne 2015). Lee leads Bourne to trace down Dewey and saves him in the end. Lees monitoring capabilities are showcased in the chasing sequences when she single handedly hunted down Nicky Parson and Bourne through surveillance and other field operatives (Lussier and Achua 2015). She acts as a spokesperson with the higher officials and her subordinates in order to take decisions and connect them with his subordinates. Lee also acts as an able Disseminator as she is well aware in the skills of hiding and sharing information with the field operatives. She helps Bourne twice to save himself from the active team of CIA in Berlin and Las Vegas. Her capability to decide in disturbing circumstances and negotiation is exceptional. She acts well in handling Deweys plans in the end. However, in the beginning, she handles the disturbing emergency situations of Athens by proper methods and her software skills. She helps her field agents and Asset in allocating resources and providing exact time period of Bournes arrival (Jason Bourne 2015). Her leadership qualities in Decisional roles are showcased properly in the film. Leadership aspects of Lee in Jason Bourne As an operating officer of CIA Heather Lee successfully acts and reacts according to the situations. She is a great negotiator, able administrator and talented enough to perform her duties as a figure head (Jason Bourne 2015). Heather Lee performs her interpersonal roles, Informational roles and Decisional roles in a profound process. She knows her job and is completely dedicated for the betterment of the CIA. She has her own principles and believes in changing the old principles and ideas set by Dewey in operations. Lee knows that Dewey has been responsible in many unethical practices including assassinations of Agents and implementation of Iron Hand program. Lee is not in favour of Deweys idea of mass surveillance on public privacy through the social media Deep Dream and incorporation of CIAs Beta program Iron hand. She plays a major role in Bournes access into the United States and dismantles the assassination plans of Dewey and Asset. However, Lee plays the central role in the en tire film and acts as a true blue leader in controlling his entire unit. The film deals with the interpersonal, informational and decisional managerial roles of leadership (Lussier and Achua 2015). As a leader, Heather Lee seems to have exceptional monitoring abilities. Her sharpness is showcased by her ability to find out Nicky Parson in a short time period through hazy and moving surveillance camera. She instructs Asset and other field agents with exact directions to work and how much distance to cover to catch and get a shot at Bourne. Her ability to allocate resource has been showcased a one of her positives. She is also equipped with enough intelligence to handle disturbances. In a scene of the film, Bourne and Nicky tries to escape the CIA by getting disappeared into a crowd (Jason Bourne 2015). The film showcases a situation of political emergency in Greece, where thousands of protesters are performing violent demonstration against the state affairs. Bourne and Nicky gets stuck into this political crisis and this causes enormous disturbances for CI A to get to Nicky and Jason (Jason Bourne 2015). However, Lee handles the entire situation with maturity and rational behavior. She tracks down Bourne and Parsons escape through Satellite monitoring, security cameras and the cameras attached with the field agents and instructs the rightful direction to Asset to get to Bourne. She also understands and acts according to the situation when she understands that Dewey is acting separately with Asset in order to eliminate Bourne (Jason Bourne 2015). Her leadership skills are also showcased through this incident (Jason Bourne 2015). Later in the film she also acts as a spoke person to the higher authorities in order to take charge in the operations and manipulates everyone to allow Jason Bourne back in the program. Overtime, she also ably wins the trust of Jason Bourne but could not capitalize the situation because of a mistake. Her decisional abilities as a negotiator are established by this scenario. She presides the meeting properly to rest her case in front to the senior officials and informally helps Bourne to escape more than once. This incident highlights her abilities as a figure head. She ably sets a meeting with Bourne and meets her twice for negotiations. This showcases her excellent performance in Liason functions. Effectiveness Leader Leader Follower Relationship Repetitive/non repetitive task Strong and weak pints of the leader Situation Appropriate style for situation Heather Lee Good Repetitive tasks strong Great communication skills. Speaking with the field operatives during the operations. weak Not good enough negotiation skills Could not negotiate with Bourne to bring him back to the program. Heather Lee Poor Repetitive Tasks strong Passive conflict with Dewey. She believes in bringing Bourne back whereas, Dewey believes in eliminating him. Dewey gets eliminated in the way. Coaching and Conflict Skills of Lee Heather Lee is displayed in the film as a complete contrast to Tommy Lee Jones Robert Bob Dewey. Deweys principles of working are through heinous means and methods which is not at all merciful for the ex-agents (Jason Bourne 2015). As a leader, he is self obsessed. He loves his power and charisma and uses it to manipulate and force anybody to do anything (Jason Bourne 2015). However, Lee develops a supportive and cordial relationship with her subordinates. She tries to cooperate with them and never tries to cheat them like Dewey does through Asset. She takes the responsibility of the entire operations on her shoulders and rightfully tracks down parson in her very first attempt. She helps CIA to avoid the embarrassment of losing both the ex agents. She stands by certain decisions and provides descriptive feedbacks for her decisions to the higher authority. In the end of the film, the Director of National Intelligence asks her about the plans of bringing back Jason Bourne into the prog ram. She assures him that she has gained the trust of Bourne and if he would not like to come back into the business then he will be killed. She is clear in her head and in implementing decisions which makes her a great leader. She is a character who stands by her principles throughout the film. However, she is extremely flexible and rightly changes sides if necessary. Despite the orders from the Director she helps Bourne to flee away twice from the CIA field operatives. She understands the greater good for the CIA and the country and acts accordingly in the film. She never criticizes her Director or Asset (Jason Bourne 2015). However, she takes steps to eliminate the obstacles in the road to CIAs success. She never criticizes Bournes actions as she understands the situation he has gone through (Lussier and Achua 2015). These are coaching skills of a good leader (Lussier and Achua 2015). The film showcases a dysfunctional conflict between Robert Dewey and Heather Lee. Deweys way of working was damaging the name of CIA. CIAs functioning was earning a bad name for the United States. Heather Lee believed that he can bring changes to the Organization and that was her sole reason of choosing CIA over other organizations. Lee plays passive in the film; she never goes for a direct conflict with the Director (Lussier and Achua 2015). However, she planned her opposition in a different way. She supports Bourne to dismantle the power of Dewey and takes charge of the organization by confirming her loyalty towards the state authority. Failures in Leadership Despite the fact that, the film showcases Lee in positive light, there is enough problems and failures in her leadership (Lussier and Achua 2015). Despite all her negotiation skills she could not convince Bourne to join the program. She wins her trust by helping him eliminate Asset and saves him by killing Dewey but commits a mistake of speaking about eliminating Bourne if he does not agree to her. This showcases her failure. On the other hand Dewey communicates with his subordinates in a proper way. He handles Craig Jeffers and handles Malcolm Smith with his special communication skills (Jason Bourne 2015). He assures Malcolm safety and manipulates him to engage Bourne in an irrelevant discussion so that Asset can assassinate him. He is extremely influential and among his subordinates except Lee. Lee on the other hand single handedly eliminates Dewey and his plans in order to re-arrange the CIA properly (Jason Bourne 2015). Lee is second in command in the film; however she is more c apable and more appropriate to be a leader. Lee has great leadership qualities but Dewey is more charismatic in his leadership. Lee is not so popular among her people like Dewey. His charisma can be seen and observed in the way he assassinates Richard Web and plans Kalloors death. Trust is displayed as the main obstacle in the path of leadership in the film. The subordinates like Lee do not trust Dewey and his way of working. This also showcases his inability to survive as a leader in the CIA. Moreover, Lee acts on her own in the operations as she helps Bourne but lacks the number of members in executing the plans (Lussier and Achua 2015). Her operational skills are not fully tested because of her solo activities in the second half of the film (Lussier and Achua 2015). The basic crisis in the film is of the lack of ethics and honesty towards their subordinates. Dewey never speaks the truth about his willingness to kill Bourne to Lee. Rather, he was also trying to assassinate Lee along with Kalloor. His dishonesty towards his second in commands showcases his failure as a leader. On the other hand Lee also distrusts Asset and the CIA Director. She eliminates Dewey and helps Bourne to eliminate Asset. Despite the fact that her dishonesty was for saving the organization, it remains a display of poor leadership (Lussier and Achua 2015). Second in Command The second in command should be good enough to follow the footsteps of his leader. She should try and emulate the direction in which the first in command has driven the entire team (Lussier and Achua 2015). The leadership should be passed in the right time and to the right person. The second in command should be provided with the leadership when he is experienced enough to handle it and make use of it. There should be a proper learning process for the second in command. The designation of second in command is a very unstable position to be in. Sometimes it draws people towards more power which leads to bigger problem in a team. This should be rightfully avoided by building up a good relationship with the second in command (Lussier and Achua 2015). Every young leader has his way of working, managing and implementing ideas. Most of the new leaders try to implement ideas which are new and can play an instrumental part in transforming the face of the organisation. However, this can also make havoc negative effects in the organisation. Sometimes, an organisation is not capable of going through a necessary change this creates problem in managerial and leadership roles. Moreover, it is also necessary to involve the second in command in every major activity in the organisations. He should be allowed in the decision making process. His insights and suggestions should be treated as an equal to the leader. The second in commands role is of taking the responsibility of the entire situation along with the leader. The concepts like Figure head and Liason are technical aspects of leadership and hence should be taught and allowed to learn these ideas in order to do well in the field. In the film, Heather Lee remains the second in command until she dismantles the empire of Dewey which is heinously run by him. However, this is not an ideal situation. In an ideal situation this would not happen (Lussier and Achua 2015). Conclusion The film is a good example of showcasing the leadership qualities and the difference between a failed leader and strong leader. The film also highlights the fact that experience alone cannot assure good leadership. Heather Lee is a prime example of good leadership. She is passionate about her work. She is extremely good with communication and decision making and applies the presence of mind at her best. The report displays the use of leadership qualities in the movie Jason Bourne. Good leaders in general are passionate about their work. Heather Lee is one of the prime examples of it. She is so passionate about her principles and work that she works for 24 hours in certain instances. She never compromises with her work and principles in the film. Lee had strong communication skills with the help of which she connects all of her staff. Good leaders perceive that success is impossible without the efforts of their employees. Strong managers do not try to perform every aspect of a project themselves. They try and allow their subordinates to take decisions and in planning projects. Lee also knows all these ideas and she readily accepts this and act accordingly. Encouragement of the employees to work as a group helps a team to grow. This growth plays an important role in team building activities. Lees enigmatic expressions and her loyal and intellectual gesture to her job make her a special character in the series. She leads her team from the front in the operations which are showcased in the film. She is quick, dominant and believes in the principle of changing the ethos of the organisation upside down. She knows and understands her difference with Dewey but plays the game of conscientiously to overcome the obstacles for the greater good of the organisation. Her character is a prime example of good leadership despite having certain short comings because of her inexperience. `Another very important factor is her abilities of decision making. She ably makes rightful decisions at the right time. She has the ability to overcome situations at the time of severe problems. The process by which she handles the problem in disturbing circumstances makes her an automatic good leader. Despite inexperience she uses all kinds of tactics to overcome the situations and single handedly takes back CIA towards glory. The report also showcases the great coaching and conflicting skills of the leader through the example of Heather Lee. Lee handles the situations very well and avoids conflicts passively but ultimately wins through mind games. Her coaching skills play an important role in building confidence among the team members. This report showcases the ideas of leadership qualities through the character of Heather Lee in the film Jason Bourne. The importance of the second command holds an enormous importance of team building and future of the team. The interpersonal, informational and decisional roles are thoroughly discussed along with the positives and negatives in the report. Lees extraordinary skills of coordinating with the field agents and her ability to be flexible at times are showcased. However the shortcomings like her inability to make Bourne comeback into the agency is displayed as a major drawback of her leadership qualities. References Jason Bourne. 2015. [DVD] Directed by P. Greengrass. The United States of America: Perfect World Pictures, Kennedy/Marshall Captivate ,Entertainment Pearl Street. Lussier, R.N. and Achua, C.F., 2015.Leadership: Theory, application, skill development. Nelson Education.

Integrate corporate sustainable assessment - Myassignmenthelp.Com

Question: Discuss about the Integrate corporate sustainable assessment. Answer: Introduction The purpose of this task is to provide brief overview about the corporate sustainability accounting activities of the company Bunnings Warehouse. Corporate sustainability accounting refers to the practice of financial accounting which involves the disclosure of non-financial information about the activities of the company implemented in the environment. This type of activities of the company shows their social and cultural responsibilities against the environment. Further the Bunnings Warehouse is an international household hardware chain store of Australia which has its activities initiated in New Zealand, Ireland and United Kingdom as well. The company is owned by Wesfarmers retail chain store since 1994 (Bunnings 2018). Further the sustainability reporting of the company is discussed below: Products of Bunnings Warehouse Bunnings is leading retailer of household and outdoor furnishing products. Further there are numerous products served by the company in the external market. Many types of tools are provided by the company such as power tools, hand tools, tool accessories and in building and hardware decking, landscape, timber, roofing, fencing building board etc. products are served by the company. Garden dcor is also provided by the company namely plants, landscaping, hand and power tools for garden etc. are provided by the company (Bebbington, Unerman, and O'Dwyer 2014). In the category of outdoor fancy living products like barbeque, outdoor play equipment, swimming pool, shade and spas etc. are provided by the company. Kitchen, bathroom, decorating, storage, lighting etc. products are provided by the company. Many varieties are also provided under the above mentioned list. Services are also provided by the company like, kitchen designs, hire shops, special orders and customer bench tops. Customers can customize the type of furniture they require for their place (Bunnings 2018). Role of corporate sustainability reporting in Bunnings warehouse Sustainability has now days grown as an accepted obligation more than responsibilities of companies. Sustainability reporting helps an organization to recognize and implement the long term goals of the company. Further sustainability reporting helps an organization to analyze the obligations of the company related to the environment and act accordingly. In the organization Bunnings it is very important for the company to hold up to their sustainable reporting so as to help company to achieve success in all segments of the environment (Ioannou, and Serafeim 2017). Sustainability accounting focuses more on managerial accounting than financial accounting as it is used by companies to implement the internal decisions in the company and creation of new policies. Further this aspect reflects the growth of the company in the external environment at three level namely, people, planet and profit. Considering the need of sustainability reporting in the company Bunnings Warehouse, it shall be noted that the company being working on large scale crucially understands the need and importance of sustainability activities in the management (Ball, Grubnic, and Birchall 2014). Further the following activities shows the need of sustainability reporting in the company Bunnings: Competitive Advantage: The major benefit of maintaining the books for sustainability reporting is that it helps the company to focus on specific issue and work on them so as to improve them. These activities help the company to gain recognition in the market. The company reduces their cost of absorbed by unsustainable activities due to which they get reserves to spend on increasing the sustainable activities of the company. Thus, in order to gain competitive advantage in the target market, Bunnings initiates the sustainable reporting their business process (Khan, Serafeim, and Yoon 2016). Enhancement of companys image and customer loyalty: further this activity is the need of the business it helps them to create loyalty i the eyes of the customers. With the initiation of sustainability activities, the company gains recognition in the market due to which an identified image created in the market. Further it does not mean that recognition will create trust but activities of the company implemented in the target market do. Therefore, the sustainable practices are implemented in such a way that the customer gains a sense of satisfaction which subsequently increases their level of trust as well. Risk Management: Corporate social responsibility reporting allows the stakeholders of the company to make more informed decision based on the future risks that the company might take. Thus, type of reporting helps the company to create a relation with the environmental, social, economic etc. factors present in the society and minimize the risks as well. Bunnings Sustainability As discussed above is considered as an important aspect in the furnishing business as the resources used by the company are natural resources only. Thus the organization needs to initiate sustainable practices and inculcate it in the behavior of employees as well. This practice of the company will initiate sustainable practices in the environment. Further sustainability of a company refers to the practices of implementing activities in the management which helps the company to grow in log run. Sustainable practices can only be implied in an organization if the employees and concerned enough for the development of the external environment along with internal environment of the organization (Cheng, et al., 2014). So, in response to that the Bunning will attain growth in long run by implementing activities which supports the nature and do not harm the interest of the stakeholders as well. Sustainable furnishing activities shall be implemented in the organization which do not waste the natural resources and produce products which provide long term benefits to the customers of the company. Lastly, in this way Bunnings will create sustainability in the environment. contribution of company in market As the company has a history of taking real life action into implementation, the company has implemented below mentioned strategies to contribute their part in the society: Report Cards: accounting of sustainable activities is important the organization it helps them to focus on crucial areas. The 2017 community report tells about the ongoing sustainable commitments of the company. The report underlines the areas where the company is currently focusing and the community involvement activities of the company. Less consumption of energy: Climate change is widely recognized as one of the most pressuring challenge for the company to cope up with. So, the company aims to use less or minimal energy to produce the resources concerning the available of energy in the environment. Initiatives like energy efficient lighting system are led by the company which reduces the use of energy in production process (Peters, and Romi 2014). Less water and waste: The goal of the company is to responsibly produce less waste in the environment through their business activities. Recycling activities are implemented and with eco-friendly packaging activities as well; Due to which the spare products of the company are used and less pollutants are delivered in the environment. Responsible sourcing: The Company responsibly holds up to the products and services which they supply in the environment. As the activities of the company are sourced worldwide, so Bunnings they initiate sustainable operations in their process with good working conditions and fair treatment with all stakeholders as well. Environmental effect Although the company is present in an industry which adversely hampers the growth of the environment but the organization manages to survive through sustainable accounting practices. The basic product for the company is wood and other natural resources which are getting depleted. And careless activities of companies are increasing the stress of many communities as well. So, the Bunnings aims to reduce the negative impact on environment through their business activities. By contributing their share in the society ad upholding the sustainable laws maintained in the environment; the company creates a positive impact on the society. Existing market The company exists in parts of Australia, New Zealand, Ireland and United Kingdom. The Company operates in hardware markets of these countries. Bunnings is involved in varied sectors of furnishing business like garden equipment, kitchen dcor etc. (Schaltegger, and Wagner 2017). Recommendation It shall be recommended to the company that shall responsibly save the information about the sustainability report of the company. Also this report shall be circulated to the people worldwide who are stakeholders of the company so as to understand the activities initiated by them. Further in order to start the sustainability accounting activities in the whole industry, the company shall involve in public events are spread news about such activities as well. Conclusion Thus, in the limelight of above mentioned events the fact that shall be noted is that sustainability is a responsibility of every organization and person prevailing in the environment. Sustainability helps the industry on a whole to work in long run and improve the productivity as well. Further the above mentioned task tells about the sustainable activities of the company Bunnings which is present in the furnishing industry. The company adequately fulfills their sustainable reporting activities in the management system so as to contribute their share in the environment. Lastly, the state of the environment is getting depleted day by day so it is important for the governments to regulate guidelines to maintain the sustainable reporting in the environment. References Ball, A., Grubnic, S. and Birchall, J., 2014. 11 Sustainability accounting and accountability in the public sector.Sustainability accounting and accountability, p.176. Ball, A., Grubnic, S. and Birchall, J., 2014. 11 Sustainability accounting and accountability in the public sector.Sustainability accounting and accountability, p.176. Bebbington, J., Unerman, J. and O'Dwyer, B. eds., 2014.Sustainability accounting and accountability. Routledge. Bunnings., 2018. Bunnings and sustainability. Viewed on January 19, 2018 from https://www.bunnings.com.au/about-us/our-actions Bunnings., 2018. In Our Community. 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