Employment law Essay Example | Topics and Well Written Essays - 3000 words - 8

Employment law - Essay Example If the employee finds the termination unlawful then redress may be undertaken before the employment tribunal. Dismissal is not encouraged as the livelihood of the employee is at stake but it does not entail the destruction of the employer if fair causes exist to justify termination. Dismissal is deemed just when anchored on the employee’s misconduct, inability to discharge the duties due to lack of qualifications, the position is redundant, continued employment is prohibited by statutory duty and other analogous reasons. The employee is not without any recourse from unlawful dismissals. An employee may institute a suit before the employment tribunal provided that such employee has rendered one year continuous service. However, an employee may bring an action regardless of length of service when based on â€Å"automatically unfair grounds† thus the time element is not a pre-condition. If the dismissal is rooted on medical reasons, it is sufficient that the employee has rendered one month of service. Accordingly, an employee who was treated unfairly may proceed against the employer. This is the dilemma of Ms. Sally Trent who owns ST Solutions, a small business with seven employees including Sally. A suit for constructive dismissal and harassment was lodged by Trish Dodge, her Secretary/Administrator for about twenty months. According to Sally, Trish was competent in her job notwithstanding long absences due to illness which she failed disclosed. There were no complaints regarding her conduct or had problems dealing with Sally and the other employees. Conflict arose between Trish and Brian, a freelance web designer, who regularly found fault with Trish by shouting words â€Å"you are useless†. When Trish complained to Sally, she told Brian during a drinking get-together to avoid contact with Trish. Brian ignored the warning prompting Trish to walk out. In her letter, Trish stated that she cannot work in the same office as Brian. Sally hired a

Information Systems Essay Example | Topics and Well Written Essays - 3000 words

Information Systems - Essay Example The researcher of this essay provides the reader with detailed explanation of Apple's company success. From the earliest government sponsored projects to produce computers based on vacuum tubes to today’s multi-core systems, the saga of computer technology has seen major players ousted and minor players become leaders. While many companies have come and gone over the past 40 years, Apple Computer comes across as one of the companies which has stood the test of time and has managed to turn out convincing products that have given it an image of innovation and being a radical organization. The essay describes that Apple is an American company and one of the front runners amongst computer hardware, software and allied equipment manufacturers. The company prides itself on creating innovative products for the consumer electronics and technology sectors. In 2005, it posted global sales of nearly 14 Billion dollars and had more than fourteen thousand people working for it around the w orld. The researcher then uses different analysis models, such as Porter’s Five Forces, Value Chain, Competitive Advantage, Value Proposition, Revenue Model and Information System to describe and present Apple's corporative strengths and weaknesses in modern market. For example, the five forces model shows that Apple has a significantly strong position in the market for some of its products e.g. the iPod and the iTunes Music Store but for others it is positioned on rather weak footing e.g. personal computers.

International Portfolio Diversification Essay Example | Topics and Well Written Essays - 2750 words

International Portfolio Diversification - Essay Example Investing on the stock market can be a very risky venture. According to Yavas (2007), both the Capital Asset Pricing Model (CAPM) and the Modern Portfolio Theory (MPT) indicates that investors should hold a well diversified portfolio in order to reduce risk. Beta is used to measure risk. A stocks beta indicates the sensitivity of the stock’s returns to the market returns (Madura 2006, p. 304). Madura (2006, p. 304) states that investors who have a diversified portfolio use beta to determine how well their portfolio reflects movements in the market. Investors believe that favourable characteristics that are related specifically to a particular firm will offset unfavourable characteristics of other firms. This is also true for industries and so it implies that a wide range of stocks spanning various industries should be held. It is expected that certain factors affecting securities on the stock market are either firm or industry specific and so in order to reduce unsystematic ri sk holding securities from a wide range of industries is recommended. This is also true in relation to national securities. Certain risks are country specific and so in order to reduce risk international portfolio diversification is recommended. This paper examines how International portfolio diversification can result in a reduction in portfolio risk. It looks at various elements of risk that are associated with portfolio. It looks at market returns in five countries and shows how correlation between these markets can impact negatively on portfolio risk reduction. An analysis is also carried out to determine whether of the returns on stock markets in Japan and Canada are integrated based on their trade relationships over the years. The findings from other studies are also explored to determine how they concur with the results from this research. How can international diversification reduce risk? There are differences in the level of economic growth among countries. Some are develop ed while others are developing. Yavak (2007) states that these differences can lead to portfolio risk reduction as the timing of business cycles are usually different. According to Eiteman et al (2007) the case for international portfolio diversification can be broken down into two components. They are the potential risk reduction benefits of holding international securities and the potential foreign exchange risks that comes with it. Portfolio risk reduction The risk associated with a portfolio of securities is measured by the ratio of the variance of the return on the portfolio in relation to the variance of the market return (Eiteman et al 2007). As noted earlier, this is represented by beta. As the number of securities in the portfolio increases the portfolios beta approaches the market beta. A portfolio that is fully diversified would have a beta that is equal to 1. Therefore the risk that is associated with holding a particular stock can be reduced through diversification. How ever, risk cannot be eliminated totally (Eiteman et al 2007). This can be explained by the fact that the total risk of a portfolio comprises a systematic and a non-systematic element. The systematic element is associated with the market and unsystematic element is related to the individual elements in the portfolio. Increasing the number of securities in the portfolio reduces the unsystematic element (Eiteman et al 2007). This same approach can be taken in the form of investing in various stock markets across the globe. When investors hold securities in several countries they are able to cushion their portfolio from shocks in any one market. Therefore, if economic conditions in one country are affected by unfavorable factors, any resultant reduction in stock market returns may be offset somewhat by gains in other stock markets or at least be cushioned by the relative weight of other securities held in other parts of the world. This is however, assuming that the markets are not highl y

Employment law Essay Example | Topics and Well Written Essays - 3000 words - 8

Employment law - Essay Example If the employee finds the termination unlawful then redress may be undertaken before the employment tribunal. Dismissal is not encouraged as the livelihood of the employee is at stake but it does not entail the destruction of the employer if fair causes exist to justify termination. Dismissal is deemed just when anchored on the employee’s misconduct, inability to discharge the duties due to lack of qualifications, the position is redundant, continued employment is prohibited by statutory duty and other analogous reasons. The employee is not without any recourse from unlawful dismissals. An employee may institute a suit before the employment tribunal provided that such employee has rendered one year continuous service. However, an employee may bring an action regardless of length of service when based on â€Å"automatically unfair grounds† thus the time element is not a pre-condition. If the dismissal is rooted on medical reasons, it is sufficient that the employee has rendered one month of service. Accordingly, an employee who was treated unfairly may proceed against the employer. This is the dilemma of Ms. Sally Trent who owns ST Solutions, a small business with seven employees including Sally. A suit for constructive dismissal and harassment was lodged by Trish Dodge, her Secretary/Administrator for about twenty months. According to Sally, Trish was competent in her job notwithstanding long absences due to illness which she failed disclosed. There were no complaints regarding her conduct or had problems dealing with Sally and the other employees. Conflict arose between Trish and Brian, a freelance web designer, who regularly found fault with Trish by shouting words â€Å"you are useless†. When Trish complained to Sally, she told Brian during a drinking get-together to avoid contact with Trish. Brian ignored the warning prompting Trish to walk out. In her letter, Trish stated that she cannot work in the same office as Brian. Sally hired a

International Portfolio Diversification Essay Example | Topics and Well Written Essays - 2750 words

International Portfolio Diversification - Essay Example Investing on the stock market can be a very risky venture. According to Yavas (2007), both the Capital Asset Pricing Model (CAPM) and the Modern Portfolio Theory (MPT) indicates that investors should hold a well diversified portfolio in order to reduce risk. Beta is used to measure risk. A stocks beta indicates the sensitivity of the stock’s returns to the market returns (Madura 2006, p. 304). Madura (2006, p. 304) states that investors who have a diversified portfolio use beta to determine how well their portfolio reflects movements in the market. Investors believe that favourable characteristics that are related specifically to a particular firm will offset unfavourable characteristics of other firms. This is also true for industries and so it implies that a wide range of stocks spanning various industries should be held. It is expected that certain factors affecting securities on the stock market are either firm or industry specific and so in order to reduce unsystematic ri sk holding securities from a wide range of industries is recommended. This is also true in relation to national securities. Certain risks are country specific and so in order to reduce risk international portfolio diversification is recommended. This paper examines how International portfolio diversification can result in a reduction in portfolio risk. It looks at various elements of risk that are associated with portfolio. It looks at market returns in five countries and shows how correlation between these markets can impact negatively on portfolio risk reduction. An analysis is also carried out to determine whether of the returns on stock markets in Japan and Canada are integrated based on their trade relationships over the years. The findings from other studies are also explored to determine how they concur with the results from this research. How can international diversification reduce risk? There are differences in the level of economic growth among countries. Some are develop ed while others are developing. Yavak (2007) states that these differences can lead to portfolio risk reduction as the timing of business cycles are usually different. According to Eiteman et al (2007) the case for international portfolio diversification can be broken down into two components. They are the potential risk reduction benefits of holding international securities and the potential foreign exchange risks that comes with it. Portfolio risk reduction The risk associated with a portfolio of securities is measured by the ratio of the variance of the return on the portfolio in relation to the variance of the market return (Eiteman et al 2007). As noted earlier, this is represented by beta. As the number of securities in the portfolio increases the portfolios beta approaches the market beta. A portfolio that is fully diversified would have a beta that is equal to 1. Therefore the risk that is associated with holding a particular stock can be reduced through diversification. How ever, risk cannot be eliminated totally (Eiteman et al 2007). This can be explained by the fact that the total risk of a portfolio comprises a systematic and a non-systematic element. The systematic element is associated with the market and unsystematic element is related to the individual elements in the portfolio. Increasing the number of securities in the portfolio reduces the unsystematic element (Eiteman et al 2007). This same approach can be taken in the form of investing in various stock markets across the globe. When investors hold securities in several countries they are able to cushion their portfolio from shocks in any one market. Therefore, if economic conditions in one country are affected by unfavorable factors, any resultant reduction in stock market returns may be offset somewhat by gains in other stock markets or at least be cushioned by the relative weight of other securities held in other parts of the world. This is however, assuming that the markets are not highl y

Leadership and Organizational Behavior Essay Example for Free

Leadership and Organizational Behavior Essay Introduction The organization that will be the topic of my discussion in my final project paper will be Pratt Industries Inc. The company started as a recycling paper company in Australia and US, but today they could close the entirely process of recycling incorporating companies that create paper from recycling paper, the energy that the company use is coming burning trash recycled, the company sale cardboard boxes and recycled paper to big detailed companies as Home depot and Walmart, the company create their own design to send their products (recycled paper based) to our homes, the company has their own recycle trucks to pick the recycle products from homes and companies. The company has the all cycle of recycling closed; they pick the recycling trash up, they process it and make new products, they sale it and send it to our homes and the process start again picking the trash up. The company has more than 70 locations where they can create clean energy, recycle and create paper, make cardboard boxes, make the own designs and for other companies also, and other activities as retail recycling products. Problem Statement I am IT support on the IT department of the company, I was hired to improve the department capacity of support due the company was growing up and the department started to get issues supporting the computer’s users. We used to have a very friendly work environment; we use to go out to celebrate birthdays, we got good payment improvement every year, our IT manager use to take the department to do some outside activities as a group. The company benefits are placed as the best comparing them with companies with the same quantity of employees, but the company started to buy other small companies and they started to make savings to invest on the new acquisitions. A  year ago HR managers started cutting health benefits and changing them backward and the salaries are not been increased as before, neither we go out as a group to celebrate birthdays nor go outside to do any extras activities. My group of work is great and the environment of work still friendly, I keep some of the good company benefits (like University tuition help) and it is why I still working on the company. The company started to cut benefit plans, expect more output from each employee, and they are keeping the new employees as a contacted people to avoid include them into the benefits plans. Some of those employees are not giving their most on their work, per example some of them never come on time every morning, they don’t give their best on their work and they don’t care if they finished their job but they leave on time or before the end of their time to leave. I scare this situation will be viral and creates the same feelings to the old department workers sending the company down because IT is one of the most important to keep the company working 247 during the 365 days of the year. I will do my best researching and writing a plan to create the steps to return the company as the leader of the recycling business on US. I would like to receive support to make the IT department an HPO and shows to the other company department how to keep the company growing up always improving the employees benefits instead trying to cut them due the employees are the most important key. Preliminary Solutions Managers have to make closed call to employees that are not following the company statements. The staffing company the company use to hire temporary employees must increase the pre-hired background check. Company has to review what they are cutting about employees benefits. Managers have to look for a way to show the employees what level of satisfaction they have with the employees dedication they show on their work. Analysis of leadership The company is passing through big changes on the executive management area; managers are being moved to different new locations that the company is merging after Pratt bought them. HR is trying to absorb those employees and it is creating an stressed environment when new employees are been hired  to replace another and when the company is using a staffing company to hire new employees without the certified classification. The company managers have to improve their level of relationship with their employees showing them they are valuable for the company and letting them know they work is highly appreciate. Reference Prive, Tanya. Top 10 Qualities That Make A Great Leader. Forbes [Serial Online]. December 2012;[emailprotected]:00. Accessed May 9, 2014. Professor de Waal, Andrà © A. MBA. The Secret of High Performance Organizations (HPO’s). HPO CENTER [www.hpocenter.com]. Non Dated. Accessed May 10, 2014. Robbins, Stephen P., Timothy Judge. Organizational Behavior, 15th Edition. Pearson Learning Solutions, 01/2012. VitalBook file. Mehrotra, Vivek. Is money the best motivator?. www.vivekmehrotra.com. Non dated. Accessed May 17, 2014.

Internal Auditors Report On Goodner Brothers

Internal Auditors Report On Goodner Brothers Internal Auditors Report on Goodner Brothers Inc 1.0 Internal Control is a system of checking balances and it is designed to provide a reasonable assurance that assets are protected. Then, accounting data must be accurate according to the information of accounting. Operations should be efficient and also law and policies are compiled with. For this company (Goodners Brothers), We noted that weaknesses in internal control of this company make employee of this company, Woody Robinson was in serious financial trouble. So, the employee took advantage of his companys weak internal controls by stealing a large of inventory, which employee then sold to other parties. We identify that the act of Woody Robinson was a form of major fraud. However, We have stated below that the main key internal control objectives for Goodners Huntington sales office. We also stated that the key internal control weaknesses and its implication that were evident in Huntington units operations and control policies or procedures to alleviate the key internal cont rol weaknesses. On the other hand, We also stated that other parties besides Woody Robinson who partially responsible for inventory losses in the company together with few fraud risk management strategy that could be implemented by this company. 2.0 From this case, we have found that Sales Representative(Woody Robinson) in Goodners Huntington sales office took as an advantage of Goodner Brothers Inc weak in internal controls by stealing a large amount of inventory. So, We believe that this are the following key internal control objectives should be maintain in Goodners Huntington sales office. Firstly, Sales offices staff need to ensure that the every transaction should have a proper authorization to prevent this kind of fraudulent use of resources. For example, Sales offices staff should get the approval from the management or manager for very transactions. By apply this first objective, the shortages of inventory can be minimized and makes all the transactions going very smoothly. Secondly, Physical safeguards and security should have been the key internal control objectives. For example, sales offices staff need to ensure that access to physical assets and information systems need to be controlled and properly restricted to authorized personnel. On the other hand, validity also should have been the key internal control objective. So, sales offices staff need to ensure that all recorded transactions fairly need to be represent the economics events that actually occurred and also should be executed in accordance with managements general authorization. Next, Error in handling also should have been the key internal control objective. So, sales offices staff need to ensure that whatever errors detected at any stage of processing receive prompt corrective action and also should reported to the appropriate level of management. Next, Completeness also should have been the key internal control objective. So, sales offices staff need to ensure that no valid transactions should have been omitted from the inventory records. This five objectives that we stated overall can minimum the bad debts. Furthermore, good control can minimized or maintain of the inventory records. 2.1 On the other hand, we have identify the key internal control weaknesses and that were evident in the Huntington units operations. Firstly, there is lack of sufficient workers in the company to perform the much needed various task because we identify that the company have 14 sales outlets with skeletal crews of 10 to 12 employees. Then, a sales manager supervised the other employees at each outlet and also working a sales district. The remaining staff typically included two sales representative. Furthermore, a receptionist who having double job as a secretary and also as a bookkeeper and seven employees who delivering the tires and working in the units inventory warehouse. So, this shows clearly that one of the major key internal control weaknesses is insufficient of workers is working in the company. Next, another key internal control weaknesses in the Huntington units operations is the failure to coordinate an up-to-date accounting system used to provide an actual or accurate ac count of inventory because we was identify that each goodner sales outlet maintaining a computerized accounting system. These systems also typically made according to a standardized format and not develop for specialized for the company. These systems is ready made. Beside this, we also found that the units sales manager and two representatives had unrestricted access to the accounting system. So, since the large volume of sales and purchase transactions always swamped the bookkeeper . Then, sales representatives also frequently entered transactions directly into system. Furthermore, another key internal control weaknesses in the Huntington units operations is the lack of security needed to safeguard the assets sold. Company failure to restricted the security. We have identify that the sales representative (Woody Robinson) taking an advantage and routinely stole the inventory and kept the proceeds. Woody Robinson also continuing stole in various ways. In some cases, Woody Robinson c harged merchandise that he was sold for his own benefit to the accounts of large volume customers. So, this techniques makes inventory balance in the Huntington facilitys accounting records. We also identify that Woody Robinson charged the customers for merchandise they had not purchase. Goodners customers frequently returned tires for various reasons. We found that Woody Robinson completed all the credit memos for sales transactions voided by his customers and at the same time, Woody Robinson not returning the tires to Goodners inventory. Then, Woody Robinson also routinely sell some of the tires to other customers for cash. So, because of company lack of security needs to safeguard the assets sold. This makes the quantity of stealing tires made Woody Robinson was increasing very high. Next, another key internal control weaknesses in the Huntington units operations is the company failure to make sure that all the accounting information was correct or not. We have identify that the sales representative themselves routinely accessed, reviewed and updated their customers account and also completing purchase orders. Sales orders, credit memos and other accounting document on the timely basis, Furthermore, the sales representative passed all the documents on to the bookkeeper and also use them to enter the transactions directly into the accounting system. We also have identify that sales representative had direct access to the inventory storage areas and during heavy sales periods, sales representative always loaded and delivered customers orders themselves. So, this makes easily errors occurred in the accounting information. So, we have stated those key internal control weaknesses and its implication with the evident in the Huntington units operations. 2.2 This are the following control policies or procedures to alleviate the key internal control weaknesses . Firstly, Proper authorization of transactions. Creating and using budgets is a form of authorization. This makes easier for Huntington units operations. The purchase of goods and services should be requested by one person and approved by another. Individuals that handle cash should be bonded. Secondly , another policies or procedures is Segregation of duties. This includes assigning different people the responsibilities of authorizing transactions, recording transactions, and maintaining custody of assets. The person collecting cash should not be the person who records the cash receipt. If there is enough staff, a rotation of duties can eliminate employee manipulation of records or assets. The approval of purchases should not be made by the person who has access to the checks. Furthermore, another policies or procedures is design and use of adequate documents and records to help ensure the proper recording of transactions and events. Sales representative should always pre- numbered checks, receipts and purchase orders should be used and sequence should be accounted. Then, cancelled checks, vouchers, and receipts should be maintained. Voucher packages (invoices, purchase orders and receiving reports) should be cancelled (stamped paid) after payment to prevent duplicate payments. The invoices should be matched to receiving reports and receiving reports should be matched to purchase orders to ensure that sales representative received, ordered and only pay for what we received. At the same time, journals should be kept for all transactions. Next, another policies or procedures is adequate safeguards regarding access to and use of assets a nd records. Then, access to blank checks, signature plates, and purchase orders should be restricted. Computers should have passwords to access and change information and working area also should be visible to supervisors. However, voided checks should be defaced by tearing the signature line off or writing void on the face of the check and also all voided checks should be maintained. If the company apply all those policies or procedures that we stated. The weaknesses of key internal control will be improved. 2.3 Furthermore, We also identify that besides Woody Robinson, there is few parties were partially responsible for inventory losses goodners suffered. Customers is one of the parties responsible for inventory losses because when customers complained to Woody Robinson for being charged for merchandise they had not purchased, Woody Robinson usually apologized and corrected their account balances but if some of the customers sometimes paid the illicit charges, so this shows that customers unknowingly helped Woody Robinson sustain his fraudulent scheme. Next, We identify that Felix Garcia, the Huntington sales manager is also one of the parties that responsible for inventory losses because Felix Garcia stated that he was not discussed the customers complaints with Woody Robinson or the sales representative. Normally, when Felix Garcia received a customer complaint, he just simply passed it to the appropriate sales representative and was allowed that individual to deal with the matters. F urthermore, We also found that Felix Garcia maintain a file of customer complaints only because he was told to do so by the previous sales manager whom was replaced three years earlier. So, We found that previous sales manager also partially responsible for inventory losses. Next, Al Hunt is owner of Curcio tires and also Woody Robinsons friend is also one of the parties responsible inventory losses because Al Hunt just continue purchase the tires even though another sales representative told that the company only sold closeout merchandise directly to wholesalers. Al Hunt also know that Woody Robinson was incredibly selling the tires at lower price. This shows that Al Hunt really responsible for inventory losses. We also identify that Al Hunt one of the major parties among the other parties who responsible for inventory losses. 2.4 However, there is a various forms of fraud risk management strategy that could be implemented by Goodners Brothers Inc. One of the fraud risk management strategy is communication and training. So, raising employees awareness of their obligations concerning fraud and misconduct control begins with communications and training. While many organisations take an approach, careful planning behind this effort can help send employees a clear message to take their control responsibilities seriously. Secondly, another fraud risk management strategy is audit and monitoring. Because since it is impossible to monitor every fraud and potential misconduct risk, management should develop a comprehensive auditing and monitoring plan that is based on the organizations fraud risk assessment process. Then, another fraud risk management strategy is employee and third-party due diligence. An important part of an effective fraud and misconduct prevention strategy is using appropriate due diligence in t he hiring, retention and promotion of employees, agents, vendors and other third parties. Such due diligence becomes especially important for those employees with authority over the financial reporting process. Furthermore, another fraud risk management is code of conduct. That is actually a well -written code of conduct is one of the most important mechanisms to communicate with employees about acceptable business standards. It sets the organizations tone on control culture, raises awareness of managements commitment to integrity and provides the resources to help employees achieve managements compliance goals. All those fraud risk management strategy that we stated that could implemented by Goodner Brothers Inc. 3.0 Finally, we come with conclusion that the management or the board of this company is mainly responsible for the design of internal control and conveying to staff their internal control responsibilities. Peoples is the one who make internal controls work. Everyone in the company plays an important role. As problems are noted, staffs should be communicated, so that adjustments or corrections can be made. There is few benefits of internal control mainly for employees is actually to help prevent errors and irregularities from occurring. If they do occur, Internal controls will help ensure they are detected in timely manner. By this report, we believed that the board of Goodner Brothers Inc is should be able to overcome the internal control weaknesses. It makes the fraudulent in the company will be reduced and particularly Huntington sales office can be maintained or sustained consistently ranked as Goodners second or third most profitable sales outlet.