The Environmental Factor Impacting On Mcdonalds Commerce Essay

The Environmental Factor Impacting On Mcdonalds Commerce Essay McDonalds Corporation is the worlds leading food service organization. The corporation started out as a small drive-through in 1948 by two brothers, Dick and Mac McDonald. Raymond Albert Kroc, a salesman, saw a great opportunity in this market and advised Dick and Mac to expand their operation and open new restaurants. In 1961 Kroc bought out the McDonald brothers. By 1967 McDonalds expanded its operations to countries outside the U.S.A. This unyielding expansion led the Corporation to open 23,000 McDonalds restaurants in 110 countries in 1994, producing $3.4 bn in annual revenues. In addition, McDonalds opens a new restaurant every three hours. Also, McDonalds has twice the market share of its closest U.S. competitor, Burger King, representing 7% of total U.S. eating-out sales. Similarly, McDonalds serves about 1% of the worlds population on any given day through its 23,000 restaurants internationally. Big Mac, the worlds most sold hamburger was developed by Jim Delligutti in 1967 t o feed construction workers. Big Mac is the biggest attraction and backbone of the corporation. Moreover, McDonalds maintains its competitive advantage by constantly creating new items to add onto its menu. This shows us that McDonalds practices an analyzer type of strategy, introducing new items and defending its existing ones. McDonalds Corporation (NYSE:  MCD) is the worlds largest chain of hamburger fast food restaurants, serving nearly 47 million customers daily. At one time it was the largest global restaurant chain, but it has since been surpassed by multi-brand operator Yum! Brands (KFC, Taco Bell and others) and sandwich chain Subway. In addition to its signature restaurant chain, McDonalds Corporation held a minority interest in Pret A Manger until 2008, and owned the Chipotle Mexican Grill until 2006 and the restaurant chain Boston Market until 2007. The company has also expanded the McDonalds menu in recent decades to include alternative meal options, such as salads and snack wraps, in order to capitalize on growing consumer interest in health and wellness. A McDonalds restaurant is operated by either a franchisee, an affiliate, or the corporation itself. The corporations revenues come from the rent, royalties and fees paid by the franchisees, as well as sales in company-operated restaurants. McDonalds revenues grew 27% over the three years ending in 2007 to $22.8 billion, and 9% growth in operating income to $3.9 billion. McDonalds primarily sells hamburgers, cheeseburgers, chicken products, french fries, breakfast items, soft drinks, milkshakes, and desserts. In response to obesity trends in Western nations and in the face of criticism over the healthiness of its products, the company has modified its menu to include such healthier alternatives as salads, wraps and fruit. McDonalds MISSION AND VISION: They serve people with good quality food, fast and at low cost. McDonalds vision is to dominate the global food-service industry. Global dominance means, setting the performance standard for customer satisfaction and increases market share and profitability through successfully implementing our convenience, value and execution strategies. McDonalds brand mission is to be our customers favorite place and way to eat. Our worldwide operations have been aligned around a global strategy called the Plan to Win centering on the five basics of an exceptional customer experience People, Products, Place, Price and Promotion. We are committed to improving our operations and enhancing our customers experience. Main Body Analysis: Environmental Factor Impacting upon MacDonalds: The impact of environmental factors is far-reaching upon the Macdonalds which is being discussed below followed by environmental factor. Environmental Factor: The notion of environment in general systems thinking is a wild, all-embracing and woolly concept. Everything is in the environment. The environment is all yet we are interested in specifics. It is people who decide what is significant in the environment and what is not what the forces are that must (imperative language) be attended to. Thus prevailing pictures of what the environment is are socially constructed. Various definitions and concerns assume the characteristics of propaganda. They are not necessarily neutral definitions and the nature of the elements that supposedly are acting on us in the environment, are difficult to define and measure. Similarly environmental events have to be interpreted and we will often refer to environmental forces of various kinds in our post hoc rational and justification of the decisions we have made. We blame the environment for action we have taken and the results of that action. Finally people e.g. government and powerful decision-makers in business organizations, may intervene to influence and shape events in the environment to their own advantage e.g. speak to the press, lobby for a change, buy up a rival, try to tickle the equities market up and even cooperate with others to ensure that information on the environment is accurate rather than uninformed and misguiding decisions by others than can affect the companys position (vested interests). John Childs concept of strategic choice, and its manifestation in terms of managerial behavior, is significant in this regard. So environment is not what it may seem. Certainly if we here the green lobby speak about environment, they will hold particular values and positions dear to their hearts, some of which others might accept but some of which others might also rebut. However a typical, neutral and managerial description of environmental factors and pressures would cover the following areas (and more). Environmental factors include social-cultural, technological, economic and financial and political-legal events and possibilities. These are often referred to by the mnemonics S.T.E.P. (social, technical, economic and political factors) also PEST or S.T.E.E.P.L.E (social/demographic, technical, economic, environmental (natural), political, legal and ethical factors) The biological and adaptive metaphor comes into play when we argue for business change. Typically, if the business cannot respond to the pressures and influences of its environment then it may not survive. It has to adapt. If it serves the needs of clients or stakeholders and satisfies for example its market mission then it may prosper. A dominant theme in the study of business is that of competition in the market-place. A businesss relationship with its environment is typically founded on its service to key customers and their satisfaction with its performance revealed by buying patterns, new legislation, party conferences, annual general meetings and stock market prices. Learning and adaptation occurs in response to stimulus across organizational boundaries. Any organization that is too inward looking becomes atrophied and can stagnate. In the language of general systems theory any system is subject to the process of entropy. Environmental factors can be political, social, ecological, cultural, technological and ethical in nature. Any organization that develops a product or service that they want to market domestically or globally must consider what the impact each of these factors may have for them. Not considering these factors can result in the failed attempt to market a product, which may be successful domestically, in other countries where there is a significant market potential. Impacting upon MacDonalds: Mainly there are 2 types of factors affecting international business like MacDonalds. 1) Internal factors 2) External factors. 1) Internal factors:- Internal factors of international business include political parties, suppliers, buyers, competitors and consumer of respective country. 2) External factors: External factors of international business are those where you need to examine the whole criteria these are political environment, legal environment, socio-cultural environment, demographic conditions of respective country. Figure: Environmental Factor Analysis the environmental factors impacting upon MacDonalds: To have a clear picture of McDonalds corporation we need to look at its Task Environment, which includes its: .Customers .Competitors .Strategic Allies .Suppliers .Regulators CUSTOMERS: Customers are those who pay money to acquire an organizations goods or services. For many years McDonalds mostly targeted the young people, however this has changed in this decade; McDonalds has turned towards a more general market. By doing this McDonalds concentrates on the family, targeting a diverse market which includes consumers ranging from children to elderly people, using products such as the happy Meal for children and Egg McMuffin for the elderly. McDonalds also realized the changing world we live in and the need for healthier food, since there is an ever changing demographic group, who demand fast, top quality food that is low in calories. McDonalds responded to this opportunity and introduced a new and innovative product. This new product was a regular hamburger that tasted like the real thing but was made of plant material like Soya beans. This same product also targets another demographic group, vegetarians. McDonalds mostly uses psychographic segmentation targeting th e working and middle classes. These are the people that are more susceptible to enter a fast food restaurant, since these are the people that lead a fast moving life and thus require a fast meal. In brief McDonalds customers are of all classes, but largely working and middle classes, and people of all ages. COMPETITORS: A competitor is an organization that competes with other organizations for resources. In our findings, McDonalds has two types of competitors in the Lebanese market: Indirect Competitors: Indirect refers to firms producing one or two products that compete with McDonalds products and therefore be a threat to the company. We have identified four indirect competitors: Henry J. Beans, T.G.I. Friday, K. F. C. and Popeyes. Henry J. Beans offers hamburgers and fries on its menu, therefore competing with McDonalds for customers of these products. However, Henry J. Beans also known as Hanks is a more of a bar restaurant and therefore a hang out place, as a result charging more money for its products. Hanks targets middle to upper class customers, so where most of these customers overlap are in the middle class. T.G.I Friday is another indirect competitor reflecting the same characteristics as Henry J. Beans. Other indirect competitors are K. F. C. and Popeyes, both competing for the chicken nuggets and fries customers. In brief, Hanks and T.G.I. Fridays competes with McDonalds by offering hamburgers and fries, whereas K. F. C. and Popeyes compete with McDonalds by offering chi cken nuggets and fries. Direct Competitors: Direct competitors refer to firms producing the same products or services as McDonalds does. Here we found that McDonalds has three direct competitors: Burger King, Wendys and Hardees. McDonalds closest rival is Burger King, which operates a total of 9644 restaurants in 110 countries. Wendys is McDonalds second largest rival, which is also in the fast food business, where Wendys operates 6776 restaurants in 32 countries. Hardees, McDonalds third largest rival is also in the fast food business and is the only direct competitor apart from Juicy Burger in the Lebanese market. Hardees operates 3080 restaurants in 20 countries. As we have illustrated McDonalds faces stiff competition from three major competitors, Burger King, Wendys and Hardees. Suppliers: Suppliers are an organization that provides resources for other organizations. McDonalds has practiced a backward vertical integration, by replacing most of its suppliers. It has done so for two reasons, 1) To reduce costs, and 2) To ensure that its products are of top quality. These supplies include beef and milk to be used in its products, which it gets from its farms. Other suppliers include local grocery stores that supply McDonalds with fresh vegetables. Soft drinks are supplied exclusively by Coca-Cola, which is also its ally. McDonalds supplies also include raw material such as flour, sugar, yeast, etc.,. Strategic Allies: A strategic ally is an organization working together with one or more other organizations is a joint venture or a similar arrangement. McDonalds has formed a strategic alliance with: Walmart, Chevron, Amoco, Disney and Coca-Cola. Walmart, which is a large shopping mall chain in the U..S. and several neighboring countries, is allied with McDonalds, which offers great opportunities for both companies. McDonalds has restaurants in each Walmart, offering its customers conveniences and excellent fast food at a low cost ease of accessibility. McDonalds corporation describes it best in this scenario: Imagine a busy shopping day at your local Walmart and having the ability to sit down with the kids and enjoy many of our McDonalds favorites, like Big Mac sandwiches, world famous fries and kids favorite Happy Meal. McDonalds understands your busy lifestyles and the demands on your time. Thats why we are making it easier for you to do more things in less time. McDonalds is engaged in an allianc e with two petrol companies, Chevron and Amoco. This alliance represents the ultimate in convenience. At these locations, one finds a full-menu McDonalds restaurant with dining room service. Nothing can be more convenient, because one can fill up the car with gas and get a meal all in one stop. Another important alliance that McDonalds has is with Disney. Here McDonalds has the sole right to sell fast food in Disneys theme parks around the U.S., and other Disney operations in the world. Under the terms of the agreement, McDonalds will operate restaurants and Disney will promote its films through McDonalds. Regulators: Regulators are groups or governmental agencies that can control and influence the organizations policies and practices. An example is Lebanon a few years ago when the U..S. government banned all U..S. citizens and organizations to come or operate in Lebanon. Another good example would be the embargo imposed on Iran where U..S. organizations were banned to operate in this country. Another group of regulators called interest groups can and have influenced McDonalds to treat its animals (cow and chickens) in a much more humane manner, which resulted in the restructuring of McDonalds farms throughout its operations around the world. The summary of the task environment which is by definition a specific organizations or groups that affect the organization, which includes competitors, suppliers, customers, strategic allies and regulators. Here we described the task environments importance to McDonalds, where McDonalds faces both opportunities and has threats in its environment. Emphasis on the key driver of MacDonalds: We shall also explore McDonalds Workforce Diversity and its Total Quality Management to emphasis on the key drivers. These are given below: Workforce Diversity: Diversity exists in a group or organization when its members differ from one another along one or more important dimensions such as age, gender, and ethnicity. Diversity is very important for McDonalds. Here millions of teens start out by working at McDonalds. Here some of the teenagers move on to get various jobs such as movie stars, skilled workers, famous athletes, management positions and other educated positions in society. At McDonalds two thirds of middle and upper management started out as crewmembers in a McDonalds restaurant. There are opportunities for everybody in McDonalds from teenagers to elderly workers, and from people just entering or reentering the job market. Moreover, McDonalds offers special jobs for people who have disabilities, such as people who are in wheel chairs and those who must use crutches permanently. Furthermore, McDonalds offers their workers flexible working hours. For example, hours for people seeking just a few hours of work per week and those wh o seek full time positions. The work force at McDonalds also have some say in their working hours, such as if they prefer the morning, mid-day, or evening shifts in the restaurant. So, McDonalds uses diversity to create a good atmosphere in their work places among workers and management. Here they offer work to all kinds of people without discrimination and the workers have flexible hours that provides customer satisfaction. Top Quality Management: Quality is the entirety of features and distinctiveness of a product or service that stand on its ability to satisfy stated or implied needs. For McDonalds, total quality management (TQM) involves that the employees are at work on time, are neatly dressed, and are clean. The employees must make sure that the customers constantly receive safe food, which implies that the employees must wash their hands often to remain clean. Moreover, the employees must follow certain Standard Operational Procedures, so the customers always receive exceptional quality and service. This includes the employees using plastic gloves when they prepare the food, that the meat and fries are properly fried, and that the vegetables are thoroughly washed when used in the food. Another TQM is that the employees rely on teamwork and high energy to get the job done, so that the customers do not have to wait long for their food. Furthermore, McDonalds management emphasizes that their restaurants should be clean. Th is involves that the restaurants are tidy, sparkling and spotlessly clean. As McDonalds illustrates the quality is that the employees delivers fast, accurate and friendly service with a smile. External and Internal Factors Affecting McDonalds The purpose of this paper is to discuss external and internal factors affecting McDonalds management functions. This will be accomplished by explaining how McDonalds deals with each of the external and internal factors. There were three factors that were chosen to outline the success of McDonalds corporation. The first factor is globalization, which is define as closer contact between different parts of the world, with increasing possibilities of personal exchange, mutual understanding and friendship between world citizens. Diversity, the difference among people and cultures, is the second factor discussed in the paper. The final factor is ethics, which can be defined as a set of principles of right conduct. This paper explains how the McDonald Corporations uses the factors to conduct business around the world. In todays society, corporations and enterprises are expanding their businesses in the global markets. Globalization is necessary for success and survival in the worldwide market; however, global competition is not easy (Bateman Scott, 2004). By the end of the twentieth century, the list of Fortune 500 companies was no longer only United States corporations due to an increase in international companies joining the list (Global Capitalism, 2005). As a leading food service retailer, McDonalds joins those corporations with restaurants in 119 countries (McDonalds, 2004). Important strategic decisions are a key factor to their success with consideration for both internal and external factors. When considering the foreign market, companies need to consider there are risks. There must be local marketing to appeal to the local consumers and also to build relationships and trust (Bateman Scott, 2004). Therefore, the strategic planning for marketing has to be effective. McDonalds caters its m enu in other countries to the cultures of the regions. For example, in India, the non-vegetarian menu includes chicken and fish items only (Welcome, n.d.). Beef is not on the menu in India because are considered sacred. Global marketing decisions are no different than those made domestically but the decisions are unique to each country (Sister Sister, 2005). Furthermore, operating on a global scale allows a companys employees to experience working in different cultural environments. This is a good marketing strategy for recruiting employees. McDonalds has a global core curriculum for its restaurant management (McDonalds, 2004). Paula Doherty, a general manager states, Ive had incredible experience in different countries andà ¢Ã¢â€š ¬Ã‚ ¦culturesà ¢Ã¢â€š ¬Ã‚ ¦as a trainee manager from Poland to Israel to the Philippines and more. Doing the job successfully has given me a real sense of achievement This business strategy speaks to their commitment to a diverse workforce. McDonalds commitment to diversity is established on the foundational belief that diversity is not just a moral and ethical issue, but also a business issue (McDonalds, 2005). Due to the global expanse of McDonalds business, diversity has become an integral part of the internal company culture. McDonalds has over 30,000 restaurants around the world, which means franchise owner/operators, employees, and customers represent just about every culture, religion or ethnicity on earth. In addition, McDonalds promotes the use of local suppliers and based on their policies of diversity, expects and retains suppliers that have a similar diversity culture. Knowing and understanding the local customs and traditions of the communities where McDonalds has established businesses, integrating people from these communities into the company, and adapting locally to the tastes and cuisines of the community, has made McDonalds the leader in their industry. In the United States alone, McDonalds has won numerous awards and received national recognition for diversity. According to McDonalds website, www.mcdonlads.com, awards include; PUSH-Excel Corporate Partner Award, Corporate Achievement and Image Award, Nullities Corporate Award, Corporate Vision Award, and the Circle of Inclusion Award. These awards and recognitions are not the result of a surface attempt to appease the critics. They are the result of McDonalds embracing and integrating diversity into their company ethos as an asset and an ally. McDonalds realizes that having diversity as an asset greatly enhances the profitability of the company. Diversity is a direct reflection of a companys interpersonal relationships. These relationships, if positive, result in a rewarding venture. Conversely, if the relationships are negative, the companys morale declines and if not addressed, leads to the deterioration of the company. This deterioration directly impacts the companys income and the communitys acceptance of the business. However, McDonalds leadership encourages diversity through their policies and programs. McDonalds proven success with leveraging the advantages of diversity can be attributed to their core value of ethics. McDonalds success is built on the foundation of personal and professional integrity (www.mcdonalds). From the beginning, McDonalds has based its reputation on trust and dependability, and their commitment to the community made them a household name. Founder Ray Kroc, believed in giving something back to the community in order to make the world a better place. Throughout the 1970s, McDonalds became involved with a lot of charity work. In 1974 established a charity called Ronald McDonald House. The purpose of this program was to provide temporary housing for the families of seriously ill children receiving treatment at nearby hospitals. Since the 70s, more than 10 million families around the world benefited from the comfort provided by Ronald McDonald Houses (www.rhmc). In addition to their community involvement, McDonalds has a long-standing commitment to environmental protection. Restaurants around the world have innovative programs for recycling, resource conservation, and waste reduction. The environmental achievements of this corporation have been recognized by organizations such as the Audubon Society, Conservation International, Keep America Beautiful, the National Recycling Coalition, and the U.S. Environmental Protection Agency (www.mcdonalds). McDonalds is also an equal opportunity employer. As an equal opportunity employer McDonalds ensures that employees and job applicants are selected, trained, and promoted without discrimination to race, gender, sexual orientation, age or disability. The company promotes their employees based on their relevant skill, talents, and performance. In support of this McDonalds promotes and sustains a working environment, which is free from unlawful discrimination, harassment and bullying. Employees are regarded as members of a team where everyones opinion is valued and respected. The Human Resources department monitors the effectiveness of the discrimination policies at regular intervals and takes corrective action as necessary to ensure that they being complied with (www.mcdonalds). Employees who feel that they have been treated unfairly are encouraged to use the remedies outlined in the Companys handbooks. McDonalds ethical standards, as well as their strategies for globalization and diver sity are instrumental to the overall success of the company. The purpose of this paper was to discuss external and internal factors that have affected McDonalds. This was achieved by explaining what the factors are where and how McDonalds dealt with each of the external and internal factors. The factors discussed were globalization, diversity, and ethics. The paper illustrates how globalization is necessary for success and survival of McDonalds in the worldwide market. The paper also shows how diversity integrated people from different communities into the company, and adapted tastes and cuisines of the community. McDonalds showed ethics by being an active leader in the communities. There are many different values to the dollar around the world, many issues that have occurred in many of those regions/websites, and about 119 countries served by McDonalds that rely on the functions of management to succeed. Critical Evolution the current strategy of MacDonalds: The current strategy involve of SWOT analysis as well as SWOT matrix or strategies which is given below accordingly. SWOT Analysis Framework Environmental Scan   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  / Internal Analysis  Ã‚  Ã‚     Ã‚  Ã‚  External Analysis /   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  / Strengths  Ã‚  Ã‚  Weaknesses  Ã‚  Ã‚     Ã‚  Ã‚  Opportunities  Ã‚  Ã‚  Threats | SWOT Matrix Figure: SWOT Analysis Framework SWOT Strategies of Macdonalds: The SWOT Matrix A firm should not necessarily pursue the more lucrative opportunities. Rather, it may have a better chance at developing a competitive advantage by identifying a fit between the firms strengths and upcoming opportunities. In some cases, the firm can overcome a weakness in order to prepare itself to pursue a compelling opportunity. To develop strategies that take into account the SWOT profile, a matrix of these factors can be constructed. The SWOT matrix (also known as a TOWS Matrix) is shown below: SWOT / TOWS Matrix Strengths Weaknesses Opportunities S-O strategies W-O strategies Threats S-T strategies W-T strategies Figure: SWOT / TOWS Matrix S-O strategies: S-O strategies pursue opportunities that are a good fit to the companys strengths. As like MacDonalds expands their Chinese market and increasing advertising and restaurant location because Chinese population is increasing day by day .In addition their car ownership is growing rapidly which is another opportunity for MacDonalds to expand their market development. Horizontal integration is the another opportunity which is tuned into strength for MacDonalds because by acquiring Krispy Kren Corporation they captured the market of them .As well as the advantages of horizontal integration is expansion of a firm within an industry in which it is already active for the purpose of increasing its share of the market for a particular product or service. Cost minimization, raw material availability, quick delivery and others factors are the advantage of horizontal integration which is adopting MacDonalds as a current strategy. It can adapt to the needs of the societies and undergo an innovative product line which might be the good opportunity for MacDonalds to transform into strength. It would be the remarkable opportunities to turn in to strength. Researching green energies and green packaging solutions and incorporating these findings as a part of their marketing strategy and advertisements which would be another opportunity to transfer into strength. Create new product offerings. Continue to use technology to influence revenue strategy: possibly use text messages to deliver specials offers to individuals who sign up for such services .These also might treated as opportunity which can be concerted in to strength. W-O strategies: W-O strategies overcome weaknesses to pursue opportunities. As MacDonalds weakness is lack of menu development so they have to work hard with this strategy and currently they are working with that as well which is being convert to pursue opportunity. They are currently doing menu development as well as product development of healthy lifestyle and Hispanic food lines which were weakness of them. In addition MacDonalds has several weakness which might be tune in to pursue opportunity if they overcome that weakness.Like- It uses advertising that mostly targets children. High employee turn-over. It has yet to accomplish going on the trend of organic food. Price competition with the competitors resulting in low revenue. Lack of innovative products. S-T strategies: S-T strategies identify ways that the firm can use its strengths to reduce its vulnerability to external threats. Macdonalds are increasing their number of restaurant as well advertisement in the Disney and Ocean Park as well as key markets to avoid the external threat of competitors like Burger King, Starbucks, Wendys Taco Bell, and KFC. Moreover there are numerous strength which can use its strengths to reduce its vulnerability to external threats. . It takes steps in adjusting the Ingredients and product offerings in order to comply with the upgraded health standards deemed necessary by the USDA. Its recognized as one of the worldss most recognized logos.It has branded menu items i-e Big Mac, Chicken McNuggets, which further promote McDonalds. Active Childrens Charity: The Ronald McDonald House. It is recognized as a socially responsible and community oriented firm. Globalization: 31,000 restaurants serving 120 countries. Of the 31,000 restaurants at least14, 000 restaurants in the US. It has located itself in major airports, cities, highways, tourist locations, theme parks. Earns revenue not merely by fast food sales, but also as a property investor, a franchiser of restaurants. It earns revenue by fast food sales as well as a property investor and a franchiser of restaurants. W-T strategies: W-T strategies establish a defensive plan to prevent the firms weaknesses from making it highly susceptible to external threats. As Macdonalds concentrate their development of product and redesign of website which is being user friendly. In addition they are increasing their sales promotion and advertisement to reduce external threat.

Human resource Essay

1. In which ways does trader joe’s demonstrate the importance of each responsibility in the management process- planning, organizing, leading, and controlling? Traders joe’s outlet mangers are highly compensated, because they are trained on the traders joe’s system inside and out. The managers are hired from within the company’s already employed employees. Trader joe’s also writes job descriptions by desired soft skills. There employees are friendly and customer oriented. Trader joes have been using competitive advantages because trader joe’s has been doing extremely well and have been giving some advantages over there competitors in the marketplace. 2. Traders joe’s is owned by a German company operating in American. What are the biggest risks that international ownership and global events pose for trader joe’s performance effectiveness and performance efficiency? Trader joe’s would have to become a global management. This means that they would have to attract and hire a truly global manager who has a strong global perspective, are culturally aware, and always stay informed with the international developments. Trader joe’s would have to also become more in touch with global economy in which supplies, product markets, and business competition are worldwide and not local or national. 3. Given trader joe’s casual and nontraditional work environment, what should she do and what should she avoid doing in the first few days of work to establish herself as a skillful manager of this team? She should enroll in the traders joe’s training program so that she could learn the ends and outs of the company and there polices. She tries to make sure that she keeps a friendly crew. She should also make sure that her employee’s under her are well trained and knows the company polices and their expectations. 4. Are there any internal weaknesses or external competitors or industry forces that might cause future problems? Trader Joe is a perfect example of a Niche market store that has a very successful product differentiation strategy by focusing on their customer needs, taking care of their employees and continuing to provide great quality products. Today world whole and organic foods are in high demand, but it can be very expensive. Trader Joe has made this possible by bringing together healthy choices that does not hurt the customer’s pocket. If Trader Joe should continue to operate with this strategy they certainly have brighter horizon to see.

Peace Domestic Violence Agency Essay - 2172 Words

PEACE Domestic Violence Agency HSM 270 - Program Summary Axia – University of Phoenix STUDENT’S NAME Date, 2009 OVERVIEW OF THE PROGRAM PEACE Domestic Violence Agency provides a variety of ways to improve the efficiency of domesticated issues, servicing victims of sexual assaults and domestic violence. Their central focus is derived from a strategic mission statement, consequential approach, which essentially regulates the business’ calculated goals. Central Focus: I.) Decrease victim suffering II.) Restore victim independence III.) Through direct care, advocate recovery. Consequential Approach - I.) Confront public beliefs and normality’s that perpetuate or condone violence in the community. II.) Decrease the†¦show more content†¦These grievances can be a series of events that extend from fatal hostilities, penetrating lesions, and insignificant cuts: joined with psychological issues. If projects and funding are not inaugurated properly, the minority of low-income and young aged group victims become a higher risk of dysfunctional lifestyles who settle within hostile environments. Essentially, they force themselves to dwell in mental and physical sufferings, leaving themselves in a perpetual cycle of disorder. PEACE Domestic Violence Agency is devoted when increasing the well-being and safety of children and mothers influenced to hostile environments within their dwellings. They supply instructive guidance, coping strategies, healthier conflict resolution skills, and fostering deep bonds between parent, and child relationship, while thwarting off perpetuating violent behaviors. PROGRAM PLANNING When programming a plan it is often initiated in the most general way and is compilation of managerial resources that is equipped to achieve a particular major goal based off an array of other goals. 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The needs and expectations of stakeholders such as funding institutions, the targeted population, theRead MoreSteps to Writing a Grant Proposal1118 Words   |  5 Pages(timeline), evaluation plan, agency capacity and project management and budget and budget justifications. Grant writing involves lots of planning, organizing, integrating, evaluating and critical thinking. The quality of grant proposal is one of the most important factors in funding decisions. The city of Portland is similar to many other communities throughout the country. As a large metropolitan city, the region has experienced increasing reports of domestic and youth violence, spousal and child abuseRead MoreStakeholder Influences Hsm/2701600 Words   |  7 Pageswell as the community (Yuen/Terao, 2003). PEACE Domestic Violence Agency Stakeholder Influences The PEACE Domestic Violence Agency decided is to create a program plan addressing the need within the community to help reduce domestic violence, and sexual assault (Yuen/Terao, 2003). â€Å"PEACE’s mission is to reduce victim trauma, empower survivors, and promote recovery through direct services† (Yuen/Terao, 2003, p. Appendix B). The mission of the PEACE agency is in line with the community needs and problemsRead MoreScenario Evaluation Plan Essay787 Words   |  4 PagesPEACE Domestic Violence Agency is dedicated to the community in reducing victim trauma, empowering survivors, and to promote recovery through direct services. The objectives are to promote the well-being of people who has been affected by domestic violence, and to educate people about domestic violence. So basically this program is there to help those who need it the most people who think they cannot get out or people who need to know the facts about domestic violence and what it can do to people

Summary Of Just Souls And Just Actions The Value Of...

Monika Mahmutovic (301180032) PHIL 350 Summer 2015 Instructor: Dr. Eric Hutton June 11, 2015 Just Souls and Just Actions: The Value of Justice in Plato’s Republic In the Republic, Plato through the mouth of Socrates attempts to engage in a discussion with Plato’s two brother, Glaucon and Adeimantus, who challenge him to address the value of justice and, why it would always be more profitable to act justly rather than not. But before we have even made our way through half of the Republic, Glaucon seems to believe that they have successfully answered this question by the end of Book IV. He takes it that after Socrates has explained what it is for the soul to be just, the profit of being and acting just follows. Throughout this essay however, I will argue that Glaucon’s conclusion that their question of the value of justice has been answered—if we can take it as a conclusion—is unsatisfactory in the very least. The insufficiency in the argument stems from the ambiguity in the relationship between just actions and their necessity for the maintaining of a just soul (which I will later discuss in greater detail). Des pite Socrates’ claim then, that just actions are required to sustain a just soul, I contend that, at this point in the Republic, their discussion of justice and its value has left it nonetheless possible for an unjust action to be more profitable to a person, without that action being necessarily detrimental to the justice of their soul. First, however, I willShow MoreRelatedJustice and Morality in Platos Republic3158 Words   |  13 PagesJustice and Morality in Platos Republic Explain and evaluate the reasons given by Plato in the Republic, to support the contention that justice is superior to, or more beneficial than, injustice? What is the relationship between justice and morality? Introduction This essay discusses and clarifies a concept that is central to Platos argument in the Republic — an argument in favour of the transcendent value of justice as a human good; that justice informs and guides moral conduct. PlatosRead MoreA Humanist Perspective And A Biblical Perspective3024 Words   |  13 Pagesâ€Å"If there were true justice in the world no children would starve while others have so much money they don’t know what to do with it†¦ Justice is about treating people fairly† (Warburton, 2012, p. 228). Justice is an idea that has shaped the world and has been a foundation for many other ideas and ideals. Kuyper quotes that â€Å"†¦there is not a square inch in the whole domain of our human existence which Christ, who is sovereign over all, does not cry out ‘mine!’† (1998, p. 488). 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The Ethics Of The Executive Officer Of Citibank Essay

Leadership has been directed by the ethical beliefs and values. It has been found that the dignity and right of the employees have been expressed by the ethics of leaderships. In this assignment the chosen organization for study is Citibank. Citibank was started in the year of 1812 at New York City. They started their business in New Zealand in 1902. It has been observed that Citibank has developed their code of ethics and the management has taken the help the code of ethics to control the functions. 1. Ethical leadership and culture: 1.1 Ethical philosophy: The various management departments such as operation management, human resource management and project management has implemented the decisions, programs and policies after evaluating the guidelines of the ethical policies of the organization. It has been observed that the Chief Executive Officer of Citibank has claimed that the organization has maintained the highest possible standard to gain the trust of its employees. It has been observed that leaders have maintained strong cultural ethics and responsibility in the workplace. The leaders have develop an ethical culture and set a new value proposition. It has been noticed that leaders of Citibank has implemented the case based training session for the employees and created an informative ethics content from the leaders. The ethics of the organization has been formed from the combination of interests and different backgrounds. The ethics have been developed on aShow MoreRelatedMarketing Analysis : Citi s Mission812 Words   |  4 Pagesis a key factor driving Citi’s ‘customer-centric’ business model. The practice of responsible financing and ethics within Citi is taken extremely seriously and rewards transparency and intelligent risk taking. RISK ORGANIZATION Risk management is an integral part of Citi. The planning process is an independent control function within Franchise Risk and Strategy. 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Methodology: Conducting personal interview with all the functional manager departmental head and sales executives. Collect the various data required to the study. Manuals and reports of the company constituted the source of secondary data. Limitation: The following limitation of this internship report: ï‚ · ï‚ · ï‚ · ï‚ · The study is limited to the study of whole

Brains vs Beauty Free Essays

In the Tales from the Thousand and One Nights the women are represented as fraudulent, cunning characters using their sexuality to their benefit. Some of these women are portrayed as deceitful harlots, while others honestly use their sly wits and beauty to their advantage to obtain what they desire. In the time of the Tales, female sexuality was prevalent, so it’s not absurd to read about all the infidelity and sexuality in these stories; however it is interesting to see how each female character uses that to her benefit. We will write a custom essay sample on Brains vs Beauty or any similar topic only for you Order Now Some women show to be evil minded while others have good intentions. Throughout the Tales from the Thousand and One Nights, there are different stories that Shahrazad tells, depicting the women in different manners. Some women were represented as deceitful whores, such as the wives of the kings in the Prologue of the Tales, others used their wit and knowledge to gain their desire, for example, Shahrazad, the story teller of the book. Shahrazad uses these women as examples to show King Shahriyar and his brother, Shahzaman that not all women are untrustworthy.They just know how to use what they have sexually and intellectually to gain control of a situation. By sexually, I don’t mean throwing themselves at different men; men are weak and will easily fall for anything a woman says if he thinks he will â€Å"benefit† from it. In â€Å"The Tale of King Shahriyar and his Brother Shahzaman† the two kings find out that their wives were frolicking about having affairs with different men. This is in the Prologue of the Tales, the two kings went on an expedition and ran into a woman, who happened to be the wife of a Jinnee, she threatened the brothers to please her or she shall wake the Jinnee.Once the fowl woman was done using the kings for her pleasure, she proceeded to pull out a string with ninety-eight rings on it. Each ring represented a man she had slept with. The kings were astonished but at the same time relieved, â€Å"If such a thing could happen to a mighty Jinnee, then our misfortune is light indeed†(19). In the beginning stories, women look like they are the villains in the book, because they portray themselves to be indecent harlots. The kings at this point come to the conclusion that all women are they same, so they devise a plan to be with a virgin every night and kill her the next morning.The brothers will never feel the pain of a broken heart again. Sexual fidelity has always been the core social concern. Some of these tales prove that to be true. The kings refuse to let that happen to them again, so they come up with this plan. So as one can see, the women so far in the Tales hold a bad reputation, until King Shahriyar met the Vizier’s daughter, Shahrazad. Shahrazad, is also the storyteller of the Tales she begs her father to let her marry the king despite the fact that he wishes to kill her in the morning. She was very confident that she could sway the king’s decision of her dooming death.She devised a plan with her sister in high hopes that it will save her life. Shahrazad was going to ask for her sister, Dunyazad to bid her a farewell, and she was to ask Shahrazad to tell a â€Å"tale of marvel, so that the night may pass pleasantly†(23). The king agreed. In this story Shahrazad proves to use her wit to her advantage, although she knows that her death is possibly near she shows strength and confidence. She knows that if she can pull this off, not only will she save her own life and the life of any other of the kings victims, but also she will be made the wife of the king.She cunningly uses her knowledge to prolong her death. Shahrazad presents a number of representations of women throughout the stories in the Tales and does not rely on the stereotype presented at the beginning of the book when all women are perceived as harlots. In the story, â€Å"The Woman and Her Five Lovers† a young woman falls in love with young man who gets into a brawl and is imprisoned. The woman is distraught and thinks of a plan to free her lover. She goes to five men to help her achieve her goal. She goes to the Governor, the Vizier, the Cadi, and the King asking them to sign a petition to free her lover. Instead of telling them that he is her husband, she tells them that he is her brother and her sole support. The four men are so at awe with her beauty and sexual demeanor that they agree, but only if they can have her for one night. She convinces these men to meet her at her house, â€Å"it is more fitting that I should wait for you at my house, were there are neither slaves nor maidservants to intrude upon our privacy†(107). She then goes to a carpenter and asks him to build a cupboard of four large compartments, he said he’d do it with honor and free of charge if she would give him one night to himself.The sly woman agreed and in the midst of leaving told the carpenter she forgot she needed five cupboards, not four. The carpenter did as she ordered. One by one the men started to show at her house, she greeted each man kissing the ground before him and saying slick remarks such as, â€Å"first take of your clothes and your turban. You will be much more comfortable in this light robe and bonnet†(109). Not soon after there’d be a knock at the door, the woman would tell the men to quickly jump into the cupboard because that was her husband at the door.They all ended up in the cupboard, but the woman made sure to have all petitions signed so that her husband could be freed. Once the men were locked up, she rescued her lover. In this specific story, Shahrazad showed the King that not all women are unfaithful. She did use her sexuality to her benefit to connive these men into her ultimate goal, to free her lover. She used her wit just as Shahrazad had. This particular character in the book goes against the perception in the beginning of the Tales that all women are unfaithful.She might have been wrong per se because she deceived the five men, but she did it for her lover, which in turn, makes her a heroine in her lover’s eyes. The idiocy of the men to fall for her seductive demeanor leads them to an unpleasurable stay locked in a cupboard. In the times the Tales were told in, it was the norm for woman to be seductive, women knew that they had an advantage because men are weak when it comes to the desire of a beautiful lady. So in these tales, it is not unusual to read stories of such perversity.Some of the women used their sexuality as a tool for their own pleasure, while others respected their lover and bodies and used their brains to obtain their ultimate goal. These were the wise women of the stories. Most of the other women who were caught being unfaithful were killed, which again was routine punishment for their deceit. The women who used their brains over their bodies were rewarded with respect and love. Ultimately, Shahrazad, through her lessons in the form of stories, she depicts women as not simply whores and tricksters, but as capable of wit, intelligence, and much more beyond sex and infidelity. How to cite Brains vs Beauty, Papers

Accounting Theory and Governance for Knowledge - myassignmenthelp

Question: Discuss about theAccounting Theory and Governance for Financial Knowledge. Answer: Introduction Financial knowledge has been a must in order to take the review of the company financial performance. As the investors it is not possible to review the whole business performance and to take decisions to invest in the various choices of investment options. In this regards Australia Securities and Investment Commission (ASIC) has provided 10 major points that every investors need to undertake before making the decision to invest in any company. All these points help investors to analyze the performance of the company and to come with the proper choice. All these points are defined in detail and are really helpful for the investors. In this report in order to explain all these points a case study 1 has been undertaken and various questions to case study has been answered. For case study company called Wesfarmers has been taken to explain the case study questions. Executive remuneration is always the concern for the stakeholders as their pay increase year to year even in the situation of financial crises. In order to explain the reform undertaken to make changes on how the remuneration of the top management has to be calculated, the case study 2 has been taken and various questions has been answered. Summary of Case Studies Case Study 1: This study provides the 10 major points that every investors must review in context of any company chosen for investment purpose before making the decision of investment. In this regard Wesfarmers has been selected to explain the procedure. Case Study 2: This study discusses the issues with the excessive executive remuneration in the United States and reforms to make changes in the calculation of the executive remuneration. Analysis of Annual Report (Company Name: Wesfarmers) Examining figures in financial statements The financial statements developed by an entity aims to reflects its financial performance for supporting the decision-making of end-users. In this context, the ASIC (Australian Securities Investment Commission) has provided suggestions to the non-professional investors for evaluating the financial performance of a company through its financial statements analysis. The suggestions are provided on ASIC for protecting the interests of investors so that accurately interprets the financial information for making informed decisions for investing (Australia, 2011). The financial performance of Wesfarmers Limited, Australian retail giant, can be based from the financial statements net figures of income statement and balance sheet as per ASIC guidelines. The income statement analysis has depicted that the company has recorded a net increase in its profit in the year 2017 as compared to the financial year 2016. The underlying net profit has increased to 22.1 per cent in the year 2017 and has reached to $2,873 million. The earnings per share have increased to 21.6 per cent and return on equity has reported an increase to about 12.4 per cent in the year 2017 as compared to the previous financial year. The increased profitability of the company has resulted in raising the dividend per year from $1.86 per share to $2.23 per share in the year 2017 (Wesfarmers 2017: Annual Report). The increased cash inflow of the company on account of its improved return on capital has helped in to expand its business operations. As reflected from the directors report of the company, its improved financial performance has resulted from its recent conglomerate structure. The company is presently emphasizing on its strategy of providing improved return to shareholders through realizing larger returns form its industrial businesses in Kmart and Bunnings. Important Financial Figures in Understanding the Financial Performance of the Company As analyzed from the case study, the ASIC has regarded the financial figures disclosed in the directors report in order to gain an insight into the profit or loss realized by a company. The directors of Wesfarmers have also discussed the financial performance of the company in the annual report through the help of some key financial figures (Hussey and Ong, 2005). The financial figures include profit after tax, earnings per share, return on equity and dividend per share. The financial figure relating to profit after tax depicts to the investors regarding the percentage of money earned on per dollar of revenue. The investors can gain an insight into the net profit realized by a company after meeting its all tax related expenditure. It enables the investors to analyze the profitability of a company without the impact of operating leverage thus the investors can actually predict its real financial condition. The earnings per share depict the amount of money earned by a company per ever y outstanding share of stock. It helps the investors to predict the financial profits that a company can provide to its shareholders. The return on equity provides a measure of the profitability of a company in comparison to the net investment (Wesfarmers 2017: Annual Report). The dividend per share of a company indicates the profits earned by the shareholders giants the number of outstanding shares. The key financial figures predicting the financial performance of Wesfarmers Limited can be depicted from its annual report are as follows: Source: https://www.wesfarmers.com.au/docs/default-source/default-document-library/2017-annual-report.pdf?sfvrsn=0 Management Opinion in the Report about the Financial Figures The operating and financial review presented by the Directors in the annual report the primary objective of the company is to provide good returns to its shareholders. The company aims to achieve strong financial performance in each of its divisional units that will be controlled by the divisional board of directors. The operating and financial review of the company has outlined the major risks and future growth prospects of the company as well based on its key financial figures. The financial performance of the year 2017 has represented the profitability of each of its divisional unit along with providing an analysis of its competitive environment through assessing the financial risk and prospects. The company recorded a net profit after tax (NPAT) of about 2,873 million in the financial year 2017 as compared to that of $1,946 million in the year 2016. Thus, it can be said that there is significant increase of $2,466 million in the current financial year of the company in net profit after tax. The cash flows have also increased from $861 million to $4,226 million in the year 2017 (Wesfarmers 2017: Annual Report). The increase in operational cash inflows indicates the higher earnings growth and adequate managing and controlling of each inventory in all of its retail segments. There is also a decrease in the capital expenditure of the company in the year 2017 to $218 million as compared to $1,681 million in the year 2016. As per the directors review, the decrease in the capital expenditure is due to fewer openings of its retail stores and thus reduction in the operational expenditure across its industrial divisions. The company also has realized proceeds of about $947 million due to divestment of receivables from its Coles divisional unit. The balance sheet of the company has also strengthened mainly due to reduction in the net financial debt that includes interest rate swap assets to about $4,321 million in year 2017 as compared to $2,216 million in the year 2016. Also, there is a significant reduction in the financial cost of the company to about 14.3 per cent from that of the previous year. The management of the company has regarded the increase in its operating cash flows and return on equity on account of its adequate conglomerate structure and its emphasis on improving the cash generation and capital efficiency (Wesfarmers 2017: Annual Report). Assessment of Financial Report in relation to Management Opinion Management has elaborated the financial performance of the company through using the graphs and charts. As per the ASIC reports it is essential to examine the management viewpoint on the performance of the company and what actually has been reported in the financial statements prepared. For instance, the management of the Wesfarmers has point that the in the current year (2016-17) the profitability performance of the company has been increased and they are paying good returns to their shareholders. There is high amount of increase in the revenue of the company due to improvements made in retail and industrial business. It has been told by the managing director that cash generation was quite strong that reflects the company value to increase the return on capital invested in the business. Finance director has elaborated the operating financial position of the different units in the Wesfarmers and according to the report the net profit after tax has been $2873 million AUD which itself a record for the company (Dagwell, Wines and Lambert, 2015). On reinvestigating whole financial statements it has been found that there are no such discrepancies in the management disclosures of the financial performance and that reported under the audited financial statements. So it can be said that there is no change in the financial performance as reported by the management personals and as described in the financial statements of the company. There is major reason behind similarity of management disclosure and what has been disclosed by the audited reports of the company (Wesfarmers 2017: Annual Report). The reason is such that annual reports are prepared after financial statements have been audited and verified by the top management. Top management people provide their statements on the financial performance of the company after reviewing the audited reports of the financial statements so that true and fair picture of the financial statements can be presented in front of the us ers of the annual report (Henderson, 2015). Analysis of the Wesfarmers as the potential investment In order to analyze the company for its potential investment it is necessary to make the detailed interpretation of the financial performance so that investors can use such information to make the judgment regarding their investment in the company. Wesfarmers has varied potential that can attract the investors (Horngren, 2012). Wesfarmers works in different category of business such as retail segment, industry segment, home improvement segment and many others that made a different from other to make the investment. Company has diverse business operations and high growth balance sheet. The retail segment of the company has foreseen major improvement in recent years and it has been monitored by various changed made. Continuous improvements in merchandising and service; increase in customer satisfaction through regular change in interaction at the stores and online purchase; and investment proposals are some of the major highlights in the change of retail segment of the Wesfarmers (Bazl ey, Hancock and Robinson, 2014). The whole group cash generation power has increased out rightly that has provided the management to manage the capital structure and to make the position of the balance sheet strong. Wesfarmers continuously take opportunities to create and to improve the shareholders wealth through proactively management of the portfolio and reviewing the strategies regularly so that business resources are put in high end growth segments of the company. Coles the major segment of the business has faced high competition and pressure of increase sales margin. In this action, the plan is to focus on the budgeted plans and to further enhance the quality of the fresh offer and to improve the merchandising and availability, through driving the operational efficiencies in order to the support investments in the various services and values. There is expectation and budget driven approach to increase the performance of the Home Improvement segment of the business (Wesfarmers 2017: Annual Report). Overall analysis of the part performance of the company shows that company has done exceptional well in year 2017 as compare to other previous year and it makes a valid choice for the investors to make investment in such growing company. The growth of the company is marked with many potential and valid proofs such as increase in dividend payout, high cash generation capacity, solid capital structure and plan to improve the further business segment. This made the Wesfarmers a strong competitor for the other companies in same segment and also for companies that are in competition as a potential investment for the investors (Wesfarmers 2017: Annual Report). Recent Changes for Addressing Executive Remuneration in the United States The given article Reining in Executive Pay has addressed the need for developing implementing laws and regulations for addressing the excessive remuneration of the executives. In this context, the article has particularly examined the excessive pay provided to the executives in the United States. The executives are realizing higher pay in the United States as indicated from the fact that there is increase of about 42 per cent executive remuneration in the year 2008 despite of the collapse of the financial sector of the country. There is significant growth in the executive pay over the consecutive years and thus there is higher need for developing financial reforms in relation to monitoring of pay of executives. In this context, the U.S government ha introduced a legislation knows as shareholder say on pay to be followed by all the publicly traded U.S companies (Executive Compensation and Incentives, 2006). As per the legislation, the shareholders have a right to decide over the matte rs relating to executive remuneration that should be followed by the Board of Directors. In addition to this, the law has also stated that shareholders as per the SEC regulations can appoint their own directors candidates through ballots if the companys present directors does not approve their decisions. Also, it is necessary for the U.S. companies to maintain the independency of the board of directors in appointing and developing the remuneration committee. The Board of Directors must also ensure that the corporations disclose all the relevant information regarding the executive pay and its relation o financial performance. The reforms introduced by the government in relation to monitor and control the excessive pay provided to the executives aims at preventing the increased rewards to executives. This is necessary because the increased rewards provided to executives can drive the misconduct in managers behaviour by manipulating the financial information for achieving higher pays w hen it is linked to the companys financial performance. Effectiveness of reforms on the Shareholders Assumptions to Act The article has discussed the reforms introduced by the U.S. for monitoring the pay structure of executives in order to ensure that executives does not receive higher rewards that drive them to conduct unethical practices for achieving higher benefits. The reforms introduced by the U.S. government known as shareholder say on pay has stated that all the public-listed companies in the country will decide the remuneration of the executives based on the shareholders opinions. Thus, as such it can be said that the effectiveness of the reforms is based on the assumptions that the shareholders will act ethically and right in deciding over the matters of executive remuneration (McDonnell, 2008). However, there are some barriers to effective shareholder control over the executive remuneration. The major obstacle faced by the Board of the company in this regard is developing an effective strategy for creating an effective communication channel for disseminating the information to the sharehold ers. Thus, as such business entities need to induce changes in its business environment to promote effective communication of all the information related to executive remuneration policies to the shareholders. Also, it can be argued by the contract theory that corporations have contractual obligations with the shareholders and therefore they should act in favour of the shareholders to provide them larger returns (Finance Committee, 2016). Thus, the corporations can influence the decision-making power of shareholders in relation to executive pay through promising them larger retunes. Thus, as such shareholders have profit interest in the corporations and therefore the power provided to them for monitoring the executive pay cannot be stated to be right and just. The independency of the shareholders in deciding over the matters of executive remuneration is question of debate as stated in the present article. Therefore, as discussed in the given article there is need for introduction of more better regulations in the U.S. that provides authority to all the stakeholders of a busies corporation not only to shareholders for deciding and monitoring the executive remuneration. Role of Taxation laws and Denying Contract Adoption for Addressing Executive Remuneration The article has stated that shareholders decision in relation to executive remuneration cannot be regarded to be accurate as it is based on assumptions that they will act ethical and fair in deciding the executive pay. Thus, the article has stated that the reforms introduced should provide authority to all the stakeholders including consumers, workers and all the communities that are impacted by corporate operations. This is because the corporations activities can put all its stakeholders to risk and therefore the responsibility of the executive pay decisions should not be provided only to shareholders but to all the stakeholders. In this context, the tax dollars paid by the general public should not help in subsidizing the executive pay in excess. This can result in a significant reduction of millions form the income taxes that corporations pay as excessive executive remuneration. In addition to this, there is need for developing a federal contract with the companies that provides r emuneration to their executive 100 times more than that of their labour wages (Treanor, 2016). The contract would help in reducing the economic inequality as the contract would require that business companies in the U.S. should maintain a fair proportion of the remuneration between its executive and workers and should provide the ratio between the CEO compensation and the workers in their annual report as well. The introduction of such measures will help in developing the strong corporate governance practices for curbing the excessive executive remuneration (McDonnell, 2008). Conclusion It can be inferred from the overall analysis of the report that ASIC plays a major role in protecting the investors interest through providing them suggestions to analyse the annual report disclosures of various corporations. Also, the executive remuneration should not be linked to the financial performance of a company as this can result in occurrence of fraudulent financial activities in a business entity. Recommendations On the basis of the case study analysis, it is recommended to the investors that they should consider the suggestions provided by the ASIC while analysing the annual report of their selected company. This will help in securing the interests of amateur investors do not possess adequate knowledge about the annual disclosures of a company. In addition to this, as analysed from the second case study there is need for developing strong regulations that provides more power to the stakeholders in deciding over the matters of executives remuneration. References Australia. 2011. Australian Corporations Securities Legislation 2011: Corporations Act 2001, ASIC Act 2001, related regulations. CCH Australia Limited. Bazley, M., Hancock, P. and Robinson, P. 2014. Contemporary Accounting PDF. Cengage Learning Australia. Dagwell, R., Wines, G. and Lambert, C. 2015. Corporate Accounting in Australia. Pearson Higher Education AU. Executive Compensation and Incentives. 2006. Retrieved 10 October, 2017 from https://www.lse.ac.uk/fmg/researchProgrammes/corporateFinance/corporateGovernance/pdf/executiveCompensationAndIncentives.pdf Finance Committee. 2016. Recommendations and Decisions of the International Civil Service Commission to the General Assembly (including Changes in Salary Scales and Allowances). Retrieved 10 October, 2017 from https://www.fao.org/3/a-mq160e.pdf Henderson, S. et al. 2015. Issues in Financial Accounting. Pearson Higher Education AU. Horngren, C. et al. 2012. Financial Accounting. Pearson Higher Education AU. Hussey, R. and Ong, A. 2005. International Financial Reporting Standards Desk Reference: Overview, Guide, and Dictionary. John Wiley Sons. McDonnell, B. 2008. Two Goals for Executive Compensation Reform. Retrieved 10 October, 2017 from https://scholarship.law.umn.edu/cgi/viewcontent.cgi?article=1168context=faculty_articles Treanor, J. 2016. Pay ratios could be made public as part of executive salary reform. Retrieved 10 October, 2017 from https://www.theguardian.com/business/2016/jul/25/pay-ratios-could-be-made-public-as-part-of-executive-salary-reform Wesfarmers 2017 Annual Report. Retrieved 10 October, 2017 from https://www.wesfarmers.com.au/docs/default-source/default-document-library/2017-annual-report.pdf?sfvrsn=0