Authoritarian Government for the Philippines Free Essays

Closing Government, Rebuttal research Motion: â€Å"This house believes that an authoritarian government will help the Philippines progress. † I. Expected Argument â€Å"The form of government doesn’t matter and the progress of the country will depend on the kind of leader we have as a president. We will write a custom essay sample on Authoritarian Government for the Philippines or any similar topic only for you Order Now † II. Counter-Argument â€Å"Unlike in other forms of the government, the authoritarian form of government allows us to make a standard to what kind of leader is best for our country. † III. Explanation Since the authoritarian government aims for a person single-handedly leading our country, all citizens must adhere and go by the ideals set by the leader himself. The only time the country will be in chaos during an authoritarian regime is when the citizens don’t agree with the leader. This can be solved by a very strict criteria and standard of what kind of leader our president should be. The standards can be ranged from what kind of school he graduated from, to experiences in leadership. Being a leader of a country is not simply a face who everybody recognizes from television or somebody who bribes and cheats his way into position. Setting a standard is faster and more possible when we have an authoritarian government. Other governments have to be associated and linked with â€Å"freedom†, and so it is rarely possible to set a specific standard for electing a president because they promote independence and freedom of whomever wants to be a president. It is most likely that there could be an unsuitable leader that is elected to be president in a democratic form of government (because it is â€Å"everybody’s ball game†, quoted from my father) – that is the reason why until now, Filipinos are still protesting about our presidents and how they do not do anything to solve our problems. When we have a proper judgement of who to elect leader, we can have a more disciplined nation, economy follows right after because when we have a leader with one single vision to improve on our problems, the processes can be faster. The standard set can reflect how much our president can help us with our economy. Stocks can go higher, we can export more high priority local goods, and we can improve on our nationalism at the same time. We have to put our electoral nominees to the test so that we can have a more progressive country in terms of economy. IV. Examples In a smaller scale, the application of an authoritarian government can be associated with how one runs a company with the president as the CEO, and the different local governments in our country as the different departments in an office building. In a publicly owned company, the CEO must be a good role model to his employees in order to make them do their job properly. The CEO must provide the needs of the employees and in turn, the employees give their hard work and talent in their business. Trust is therefore developed and it makes running the business flow easily. When people choose a CEO, they do not just choose out of a whim. They pick people who are trained specially for the position and they have a guideline on who to assign the position of CEO or any other big name in a company. Effective CEOs are those who amidst crisis, can still maintain the stock prices and make them the same amount as every normal day. However, when they appoint a bad CEO, it can be seen when the stocks drop low for about 40 to 50% even when there is no serious problem. In that case, he should really be ousted. Singapore, having an authoritarian government led by Prime Minister Lee Hsien Loong, has an economy relatively corruption free and has one of the highest GDPs (Gross Domestic Products) in the world. It would not have been possible to have such a successful economy if not for such a qualified Prime Minister for their country. I believe that it is possible for it to happen in our country, the Philippines, as long as we have a specific guideline and criteria in nomitating and electing our country’s leader. V. Sources 1) â€Å"Country Rankings. † (accessed January 20, 2012) http://www. heritage. org/index/Ranking. aspx 2) Huff, W. G. â€Å"Cambridge Journal of Economics. † (accessed January 23, 2012) http://cje. oxfordjournals. org/content/19/6/735. abstract How to cite Authoritarian Government for the Philippines, Papers

Management and Organizations in Global Structure

Question: Discuss about the Management and Organizations in Global Structure. Answer: Introduction: The organizational culture and the organizational structure play a key role in the overall management of any organization. If one of these systems is not managed in a proper way, then it can create a chaos in the whole organization and results in negated impact for not only the organization, but for all its stakeholders too. In the following parts, a discussion is carried on regarding the various aspects of the organizational culture, as well as, of the organizational structure. Organization culture is such a system which is comprised of shared beliefs, assumptions, and values, which govern the behavior of the people in any sort of organization. Such shared beliefs and values create a significant impact over the individuals who are associated with the organization, and helps in dictating the performance of their jobs, along with the manner in which they act or dress up (Alvesson, 2012). There are a variety of factors which affect the organizational culture. The most influential factor is the individuals who work in the organization. When an individual joins the organization, they not only bring the professional knowledge with them, but also bring their beliefs, traditions, assumptions, priorities, values, customs, behaviors and norms. For instance, when individuals are hired from defense background, they tend to bring discipline and strictness with them. Such discipline then forms a part of the culture of such organization. The gender of the employees is also a crucial factor. Along with the nature of the business, the objectives and goals of the organization, the associated external parties and clients, and the managements style of handling the employees also formulates the culture of an organization. To elucidate this further, the example of Walmart has been taken. The business activity of the company designs the organizational structure of Walmart and also imposes the limits over its business, in addition to determining the manner in which the problems are addressed by it. The organizational culture of Walmart has 4 key components, i.e., action with integrity, strive for excellence, service to customers, and respect for the individual. These components have been identified in the beliefs of Walmart and act as a guide for the behavior of its employees. (Walmart, 2016) The company has prioritized its customers in all of its operations (Walmart, 2016). Walmart has successfully recognized the contributions which have been made by its employees, which has contributed in its success. Walmart strives for the excellence in performance through the organization. Walmart also maintain its integrity by promoting honesty, impartiality and fairness while making the decisions. Even after all this, Walmart has, at numerous instances, been criticized for the failure to deal with the issues regarding the low pay of its employees and a bias for gender (Lichtenstein, 2011). This highlights the difference between the beliefs of Walmart, in the organizational culture, from the actual way in which the employees are treated. Hence, it is recommended to Walmart that it should implement such measures which are more effective and more successful in fulfilling the respect that each of its employees deserves, and also to each of the element of the organizational culture. An organization structure explains the manner in which the activities of supervision, work allocation and coordination are directed for the accomplishment of the goals of the organization. It consists of the hierarchical arrangement of the rights and duties, authorities, and communications of any organization. A proper organizational structure helps in knowing the chain of command, which could help in fixing the final responsibility. So, it acts as a guide for all the employees for the official reporting (Ingram, 2016). Further, information can be passed if a proper organizational structure is established and also enables the distribution of authority (Suttle, 2016). An organizational structure has six key elements and this includes work specialization, departmentalization, chain of command, span of control, formalization, and centralization decentralization. In Walmart, each of the individuals has a separate job and the division of labor is done is a proper manner. The jobs are broken into steps and each step is done by a different person. Walmart has different departments, which deal with a specific department, for instance human resource department, operations departments, and marketing and sales department (Lombardo, 2015). Each manager has a specified number of employees under them in Walmart so that they can be controlled and a span of control is maintained. In Walmart, the managers lay down the responsibilities of each of the employee, in a written manner, so that the employees can know what has to be done, and hence, a formalization of structure is done. Walmart has a centralized system, where the mandates, as well as, directives come from the top levels and are implemented by the middle management, down each ranks and by the end employees (Lombardo, 2015). The organizational structure of Walmart has two key features, i.e., divisional or hierarchy and the functional based. The hierarchy based system relates to the vertical line of authority, as well as, command across the structure of the organization (Dudovskiy, 2016). Here, each of the employees has a superior, save for the CEO, and the orders come from the top level, which are then to be followed by the juniors. The function based organizational structure consists of the employees, divided in groups, which fulfill specific functions. In Walmart, the functions related to hiring, training, etc are carried on by the human resource management (Walmart, 2016). There are separate departments for the function of marketing and information technology. In short Walmart has a range of function based departments in its organization structure. Having a hierarchical functional organization structure, Walmart is easily able to influence its employees, and new policies or strategies can be easily passed down. Though, this brings with it the problem of flexibility and often, the lower levels are unable to adjust the business practices due to length communications, along with the approval process (Lombardo, 2015). So, it is recommended to Walmart to introduce some form of flexibility in its organizational structure so that the business practices can be adjusted in a quick manner. References Alvesson, M. (2012) Understanding organizational culture. 2nd ed. London: Sage. Dudovskiy, J. (2016) Walmart Leadership and Walmart Organizational Structure. [Online] Research Methodology. Available from: https://research-methodology.net/walmart-leadership-and-walmart-organizational-structure/ [Accessed on: 16/12/16] Ingram, D. (2016) Why Is Organizational Structure Important?. [Online] Chron. Available from: https://smallbusiness.chron.com/organizational-structure-important-3793.html [Accessed on: 16/12/16] Lichtenstein, N. (2011) Wal-Marts Authoritarian Culture. [Online] The New York Times. Available from: https://www.nytimes.com/2011/06/22/opinion/22Lichtenstein.html?_r=0 [Accessed on: 16/12/16] Lombardo, J. (2015) Walmart: Organizational Structure Organizational Culture. [Online] Panmore Institute. Available from: https://panmore.com/walmart-organizational-structure-organizational-culture [Accessed on: 16/12/16] Suttle, R. (2016) The Importance of Organizational Structure. [Online] Chron. Available from: https://smallbusiness.chron.com/importance-organizational-structure-2783.html [Accessed on: 16/12/16] Walmart. (2016) Human Resources. [Online] Walmart. Available from: https://careers.walmart.com/career-areas/corporate/human-resources/ [Accessed on: 16/12/16] Walmart. (2016) Opportunity Advancement. [Online] Walmart. Available from: https://corporate.walmart.com/our-story/working-at-walmart [Accessed on: 16/12/16]

International Business. European Union

The Evolution of the European Union After the Second World War, Robert Schumann proposed a plan to unite Europe; however, he realized that it could not be done at once. He proposed that it could be built through its achievements. The union began by the establishment of three European Communities; Coal and Steel Community, Atomic Energy Community and the Economic Community (Harrop 24).Advertising We will write a custom essay sample on International Business. European Union specifically for you for only $16.05 $11/page Learn More The treaty which established the Economic Community is a Rome treaty which was a framework treaty that led to the attainment a Customs Union. The treaty also set out objectives that led to the development of guidelines for policies in economic activities. The treaties that established European communities created institutions that were in charge of activities of each community (Nugent 216). In mid-eighties, the building blocks for the European Community changed with the establishment of a single European Act. An internal market was established in 1992, and during this year, the Maastricht Treaty led to the formalization of the European Union; this defines a community that has common policies in different areas (Harrop 43). In 1999, a Monetary Union was established together with a common citizenship, foreign as well as security policies. The union started operating on three pillars: Common Foreign and security, the European Community, cooperation in police and judicial criminal matters. Political structure in the European Union â€Å"The European Union consists of European countries that are democratic; they are committed to working for peace and prosperity† (Tatham, 2009). This union has five institutions, with each institution playing its specific role. These institutions include the European Parliament, Court of auditors, Court of justice, European Commission and the European Union council. Apart fr om these five institutions, there are other important bodies such as the European Investment Bank, European Ombudsman, European Central Bank, Committee of the regions and the European Social and Economic Committee. The European Union has a rule of law, which is fundamental to the union where all its procedures and decisions are based on the union treaties and are agreed upon by all the member countries (Hix and Hoyland, 209). The Union is unique on its own in that it is not a federal government and it is also not just a union of a countries; its political system was established on a chain of treaties and has been evolving over the past years.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The treaties represent both the national interests and collective interests. The treaties have primary legislation, and it is from the primary legislation that secondary legislation is derived; it is thro ugh the secondary legislation that the union impacts the lives of its citizens (Nugent 186). The legislation consists of directives, regulations and recommendations and these laws are according to the policies of the European Union. The decisions about the laws are made by the European Parliament, the European Commission and the European Union Council. The position of the Council is presided over by each member country after very six month, and each council meeting is attended by each member country’s minister, and the decision on which minister to attend the meeting is made basing on the topic on the gender. The European Parliament is a body that is elected to represent the Member states citizens, this body also participates in the process of legislation with the election of its members scheduled to take place after five years. The Council and the European Parliament share legislative power and have an equal responsibility during the adoption of the European Union budget; th ey debate of the budget proposed by the European Commission, and they can pass the budget or reject it (Hix and Hoyland 323). Through the budgetary powers, the parliament is able to influence policy making in the European Union. The body exercises democratic control; it has the mandate of dismissing the Commission through the adoption of censure motion; the parliament also ensures that the policies of the union are managed and implemented correctly. The European commission is an institution which does its activities with political independence, and makes shore that the interests of the union are protected. It also ensures that the regulations and directives of the union are adopted by the Parliament and the Council, and if not the offending party is taken to the Court of Justice by the Commission (Hix and Hoyland 212). The commission also proposes new EU legislation; therefore, it is mandated to take action to help the Council and Parliament to agree. On the other hand, the commissi on is under the Parliament; therefore, it is answerable to the Parliament.Advertising We will write a custom essay sample on International Business. European Union specifically for you for only $16.05 $11/page Learn More The Single European Act The Single European Act is an act that was signed in The Hague and Luxembourg, and started functioning in 1987. The act represents the European Communities first treaties’ modification. Among other modifications, this modification gave the European Council a formal recognition with the creation of a court and an introduction of new procedures for legislation (Nugent 48). The parliament was given veto powers on the accession of new members and agreement conclusion with associated member states. The force behind the adoption of this act was in Article 8A; this article sets the single objective of the market. In 1985, the programme of the Single market objective proposal implied that the approval of many dire ctives sought to eliminate obstacle that had been recognized. The act also had a significant policy on industrial relations and employment; the Social Action Programme of the commission in 1989 brought to light the concern of working time. This issue could have concentrated on the effects of working time on completion in the local market; it could have allowed for the approval by majority voting, however, the issue could have raised a question of whether to exclude the proposal from the majority voting regime considering paragraph 2 in Article 100A (Nugent 167). During this event, there was an argument by the commission on whether the regulatory practices on diversity regarding working time flexibility threatened health and well-being of workers; this argument was meant to push for a way out to Article 118A. The challenge by the United Kingdom to the choice of the Commission regarding working time directives was adopted by the council, but it did not succeed. The Establishment of th e Euro Euro is a currency used by the members of the European Union; it is also used in Kosovo, Andorra and Montenegro. This currency is as a result of monetary reform during the Roman Empire in Europe. The creation of this currency perfected the single market in Europe; it is through the euro that Europe achieved political integration.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The idea of the euro was in Europe for decade; this is according to the Rome’s treaty in 1957, however, the currency formally started circulating in 2002 (Eliassen 78). In 1979, there was an introduction of the European Monetary System together with locked exchange rates within the participating countries; this set basics for the single currency creation. After seven years, the euro was created after the participating member countries created exchange rates between their currencies; this created a monetary union (Hill et al 57). The transition took 3 years with the use of euro as electric money, and later, the euro notes and coins took over; up to now, the member states use Euro as a single currency and they have a common central bank as well as a common interest rate. Enlargement of the European Union Currently, the European Union has an ambitious plan of enlarging its integration; the enlargement is aimed at reuniting the Europe as a continent. The union believes that the m ove will consolidate democracy and peace in Europe and make the European people to share the benefits which have been accrued through the progress of the European Union together with the welfare generated by the integration (Bradley et al 205). More countries have applied to be members of the European integration. The members and the union are still negotiating about the circumstances of their integration with the union (Weiler 39). Each country is unique, therefore, members are negotiating with the unions at their own pace and this depends on the situation in each country. The European Union gives rules for members who want to become members; for a country to be a member of European Union, it should have a stable democracy, which would ensure that there is a rule of law, protection from minority groups and human right protection (Nugent 146). The country’s market economy must be functioning well and its public administration should be in a position to apply as well as manage EU laws. Works Cited Bradley, John et al. Integration, growth and cohesion in an enlarged European Union. Chicago: Springer, 2005. Print. Eliassen, Kjell. Foreign and security policy in the European Union. New York: SAGE, 1998. Print. Harrop, Jeffrey. The political economy of integration in the European Union. Camberley: Edward Elgar Publishing, 2000. Print. Hill, Charles et al. Global Business Today. Whitby: McGraw-Hill Ryerson, Limited, 2006. Print. Hix, Simon Hoyland, Bjorn. The Political System of the European Union. Sydney: Palgrave Macmillan, 2011. Print. Nugent, Neill. The government and politics of the European Union. Durham: Duke University Press, 2006. Print. Tatham, Allan. Enlargement of the European Union. Cambridge: Kluwer Law International, 2009. Print. Weiler, Joseph et al. Integration in an expanding European Union: reassessing the fundamentals. Hoboken: Wiley-Blackwell, 2003. Print. This essay on International Business. European Union was written and submitted by user L1v1a to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Immigrant Voting Eligibility and Requirements

Immigrant Voting Eligibility and Requirements Naturalization typically increases as national elections draw closer, as more immigrants want to participate in the democratic process. This is especially true if immigration issues become important to the campaigns, as in 2016 when Donald Trump proposed building a wall across the U.S. border with Mexico and putting sanctions on Muslim immigrants. Naturalization applications increased by 11% in the 2015 fiscal year over the year before, and jumped 14% leading into 2016, according to U.S. immigration officials. A surge in naturalization applications among Latinos and Hispanics appears linked to Trumps positions on immigration. Officials say by the November election, close to 1 million new citizens could be eligible to vote an increase of about 20% over typical levels. More Hispanic voters is likely good news for Democrats who have relied on immigrant support in recent national elections. Worse for Republicans, polls showed that eight out of 10 Hispanic voters had a negative opinion about Trump. Who Can Vote in the United States? Simply put, only U.S. citizens can vote in the United States. Immigrants who are naturalized U.S. citizens can vote, and they have exactly the same voting privileges as natural-born U.S. citizens. There is no difference. Here are the basic qualifications for voting eligibility: You must be a U.S. citizen.Green card holders, or permanent residents, are not allowed to vote in national elections. A few localities - only a few - allow green card-holders to vote in municipal elections. But otherwise, as an immigrant, to participate in state and national elections, you must have completed the naturalization process and earned U.S. citizenship.You must have lived in the state where you’re intending to vote for a minimum period of time. It’s usually 30 days but does vary from some states to others. Check with your local elections officials.You must be at least 18 years old on or before election day. A few states permit 17-year-olds to vote in primaries if they will turn 18 by the general election. Check with your local elections officials.You must not have a felony conviction that disqualifies you from voting. If you have been convicted of a serious crime, you must get your civil rights restored to vote, and that’s not an easy process.You must not have been declared â€Å"mentally incompetent† by a court of law. Immigrants who are not naturalized U.S. citizens face serious criminal penalties if they try to vote in an election illegally. They risk a fine, imprisonment or deportation. Also, it is important that your naturalization process is completed before you try to vote. You must have taken the oath and formally become a U.S. citizen before you can legally vote and participate fully in American democracy. Voting Registration Rules Vary by the State The Constitution allows the states wide discretion to set voting registration and election rules. This means that registering to vote in New Hampshire can have different requirements than registering to vote in Wyoming or Florida or Missouri. And the dates of local and state elections also vary from jurisdiction to jurisdiction. For example, the forms of identification that are acceptable in one state may not be in others. It’s very important to find out what the rules are in your state of residence. One way to do this is to visit your local state elections office. Another way is to go online. Nearly all states have websites where up-to-the-minute voting information is readily accessible. Where To Find Information on Voting A good place to find out your state’s rules for voting is the Election Assistance Commission. The EAC website has a state-by-state breakdown of voting dates, registration procedures and election rules. The EAC maintains a National Mail Voter Registration Form that includes voter registration rules and regulations for all the states and territories. It can be a valuable tool for immigrant citizens who are trying to learn how to participate in U.S. democracy. It is possible to use the form to register to vote or to change your voting information. In most states, it’s possible to complete the National Mail Voter Registration Form and simply print it, sign it and mail it to the address listed under your state in the State Instructions. You can also use this form to update your name or address, or to register with a political party. However, once again, states have different rules and not all states accept the National Mail Voter Registration Form. North Dakota, Wyoming, American Samoa, Guam, Puerto Rico, and the U.S. Virgin Islands do not accept it. New Hampshire accepts it only as a request for an absentee voter mail-in registration form. For an excellent overview of voting and elections across the country, go to the USA.gov website where the government offers a wealth of information about the democratic process. Where Do You Register To Vote? You may be able to sign up to vote in person at the public places listed below. But again, remember that what applies in one state may not apply in another: The state or local voter registration or elections office, sometimes known as the elections supervisor’s office.The department of motor vehicles. Yes, where you get a driver’s license is often also the place where you can register to vote.Certain public assistance agencies. Some states use the social services network to promote voter registration.Armed services recruitment centers. A military recruiter may be able to help you sign up to vote.State-run programs that help people with disabilities.Any public entity that a state has designated as a voter registration center. Do some research to find out if there’s a government facility near you that might be able to help. Taking Advantage of Absentee or Early Voting In recent years, many states have done more to make it easier for voters to participate through early voting days and absentee ballots. Some voters may find it impossible to make to the polls on the Election Day. Perhaps they’re out of the country or hospitalized, for example. Registered voters from every state can request an absentee ballot that can be returned by mail. Some states require that you give them a specific reason - an excuse - why you are unable to go to the polls. Other states have no such requirement. Check with your local officials. All states will mail an absentee ballot to eligible voters who request one.  The voter may then return the completed ballot by mail or in person.  In 20  states, an excuse is required, while  27  states and the District of Columbia permit any qualified voter to vote absentee without giving an excuse.  Some states offer a permanent absentee ballot list: once a voter asks to be added to the list, the voter will automatically receive an absentee ballot for all future elections. As of 2016, Colorado, Oregon and Washington used all-mail voting. Every eligible voter automatically receives a ballot in the mail. Those ballots can be returned in person or by mail when a voter completes them. More than two-thirds of the states - 37 and also the District of Columbia - offer some sort of early voting opportunity. You can cast your ballot days before Election Day at various locations. Check with your local election office to find out what early voting opportunities are available where you live. Be Sure To Check for ID Law in Your State By 2016, a total of 36  states had passed laws requiring voters to show some form of identification at the polls, usually a photo ID.  Roughly 33  of these voter identification laws were expected to be in force by the 2016 presidential election. The others are tied up in the courts. Laws in Arkansas, Missouri  and Pennsylvania laws have been struck down going into the 2016 presidential race. The remaining 17  states use other methods to verify the identity of voters. Again, it varies from state to state. Most frequently, other identifying information a voter provides at the polling place, such as a signature, is checked against information on file. In general, states with Republican governors and legislatures have pushed for photo IDs, claiming a higher standard of identity verification is needed to prevent fraud. Democrats have opposed photo ID laws, arguing the voting fraud is virtually non-existent in the United States and the ID requirements are a hardship for the elderly and poor. President Obama’s administrations have opposed the requirements. A study by researchers at Arizona State University found 28 cases of voter fraud convictions since 2000. Of those, 14% involved absentee ballot fraud. â€Å"Voter impersonation, the form of fraud that voter ID laws are designed to prevent, made up only 3.6% of those cases,† according to the study’s authors. Democrats argue that if Republicans were really serious about cracking down on the rare cases of fraud that have occurred, Republicans would do something about absentee voting where the likelihood of misconduct is far greater. In 1950, South Carolina became the first state to require identification from voters at the polls. Hawaii started requiring IDs in 1970 and Texas followed a year later. Florida joined the movement in 1977, and gradually dozens of states fell in line. In 2002, President George W. Bush signed the Help America Vote Act into law. It required all first-time voters in federal elections to show a photo or non-photo ID upon either registration or arrival at the polling place A Brief History of Immigrant Voting in the U.S. Most Americans don’t realize that immigrants - foreigners or non-citizens - were commonly allowed to vote in elections during the Colonial era. More than 40 states or territories, including the original 13 colonies leading up to the signing of the Declaration of Independence, have allowed foreigners voting rights for at least some elections. Non-citizen voting was widespread in the United States for the first 150 years of its history. During the Civil War, Southern states turned against allowing voting rights to immigrants because of their opposition to slavery and support for the North. In 1874 the U.S. Supreme Court ruled that residents in Missouri, who were foreign-born but had committed to becoming U.S. citizens, should be allowed to vote. But a generation later, public sentiment had swung against immigrants. The growing waves of new arrivals from Europe - Ireland, Italy and Germany in particular - brought a backlash against giving rights to non-citizens and accelerating their assimilation into U.S. society. In 1901, Alabama stopped allowing foreign-born residents to vote. Colorado followed a year later, and then Wisconsin in 1902 and Oregon in 1914. By World War I, more and more native-born residents opposed allowing newly arrived immigrants to participate in U.S. democracy. In 1918, Kansas, Nebraska, and South Dakota all changed their constitutions to deny non-citizens voting rights, and Indiana, Mississippi and Texas followed. Arkansas became the last state to ban voting rights for foreigners in 1926. Since then, the way into the voting booth for immigrants is through naturalization.

Financial Policies and the Value of the Firm Literature review

Financial Policies and the Value of the Firm - Literature review Example The research identified that the matter of a firm’s dividend policy and its effect on current share prices. The effects of different dividend polices on current share prices based on assumptions of perfect capital markets, rational behaviour on the part of investors and perfect certainty. The assumption of perfect markets means that all traders have equal access to information and transaction costs such as brokerage fees and transfer tax which are normally associated with the sale and purchase of shares are non-existent. Rational behaviour indicates a preference for more instead of less and an indifference to the form that wealth takes – whether it is in the form of cash payments as dividends or increases in the market value of shares. Perfect certainty on the other hand indicates that investors have no doubt in relation to the investment and financial policy of the firm as well as the future levels of profitability of all firms. Stiglitz extends the argument that the f inancial policy of the firm is irrelevant to a multi-period model. The reason for this extension is to give consideration to a wider range of financial policies to include not only a debt to equity ratio but a dividend retention ratio, a debt maturity structure and possibly the holding of securities in other firms. While stressing the importance of financial policy on the value of the firm to students of finance, Stiglitz indicates that ‘if the conditions under which the â€Å"irrelevance† theorems obtain’ are considered to be realistic it results in a reduction in the tools that they require to function effectively. Stiglitz (1974) suggested that it is possible to place the decisions that a firm makes into four groups: i. the way in which investment is financed; ii. the way in which revenue is distributed; iii. the amount that should be invested in any particular projects; and iv. the projects that should be undertaken as well as the techniques that should be em ployed. The first two relates to the firms financial policy while the last two relate to its investment policy. Stiglitz (1974) highlights the fact that there is a relationship between both types of decisions which may not be obvious. Stiglitz (1974) also indicates that two different but still closely related propositions have been confused. While they assert that a firm’s financial policy does not affect its value. The first asserts that the individual does not prefer one financial policy over another and specifically to the debt to equity ratio implying therefore that there is determinate ratio for the economy as a whole while the second indicates that there might be some preference as there may be a determinate debt to equity ratio for the economy as a whole but the financial policy of a particular firm makes no difference. Stiglitz (1974) concludes that the first preposition is stronger because it indicates that the financial structure of the economy and therefore the fir m is irrelevant while the second indicates its irrelevance in relation to the firm only. Stiglitz (1984) points out that the decisions that the firm makes are interrelated and so the decision to increase dividend and still decide to invest would suggest that additional capital needs to be obtained. If a loan is obtained to facilitate the investment then less would be available in the following period and to either retained earnings or dividends would decrease. If instead, shares are issued to facilitate the decision to invest then the amount distributed to shareholders in the following period would decrease if retained earnings is left unchanged. Stiglitz (1974) points to shortcomings in Baumol and Malkiel (1967) and Modigliani and Miller (1958) in their discussion of on how taxation impacts the optimal financial policy of the firm. Baumol and Malkiel (1967) and Modigliani and Miller (1958) observed that debt reduces the amount of tax that a firm is

The CPAs in the Accounting Profession Research Proposal

The CPAs in the Accounting Profession - Research Proposal Example In smaller organizations, there is less specialization and more combining of responsibility for the various accounting functions. Larger business enterprise typically employs internal auditors who review the work done by accountants and others within the enterprise and report their findings to management. In addition to auditing financial reports generated by the accounting system, they review the operational policies of the company and make recommendations for improving efficiency and effectiveness. Although internal auditors are employees of the enterprise, they must be independent with respect to the employees whose work they review. Some accountant known as Certified Public Accountants or simply known as CPAs, do not work for a single business enterprise. Rather, they provide a variety of services for many different individuals and business clients, which is categorized as external financial reporting.Certified Public Accountants perform public accounting and independent auditing . CPAs practice either individually or in firms. Due to the important of personal liability for professional conduct, public accounting firms are generally organized as professional corporations. These corporations provide many of the benefits of the corporate structure, but retain personal liability for the professionals involved. Almost all big and publicly held corporations are audited by a few large CPA firms; and numerous small businesses and non-public entities are serviced by regional and local CPA firms, including a large number of sole practitioners. In these firms, the role of auditing is often less important than the areas of tax reporting and planning and systems consulting. A CPA in a smaller firm is expected to be something of an accounting generalist, as opposed to the more specialized positions of CPAs in large regional and national firms. With respect to external financial reporting, the most important service provided by the CPAs is the independent audit of financial statements. As independent auditors, Certified Public Accountants play a critical role in the reporting of financial information to external users who make their decisions concerning their relationship to the enterprise, such as: creditors and potential creditors, investors and potential investors, financial analysts, government agencies, and other interested parties. In performing an independent audit, the CPAs responsibility is to examine the financial statements to be furnished to external users and to express an opinion as to the fairness of the statements in adhering to the generally accepted accounting principles (Nikolai and Bazely, p.10). The auditor's opinion is communicated in a report that accompanies the financial statements. The opinion is based on evidence gathered by the auditor from the detailed records and documents maintained by the com pany and from a review of the controls over the accounting system. The need for independent audits resulted from the emergence of the corporate form of business and the resulting separation of ownership and management. A significant proportion of the productive activity in the United States is conducted by publicly held corporations; that is, by corporations whose securities are sold to the general public. The stockholders who own the corporations are primarily investors and are generally not involved in the operations of the business. These investor-owners rely on management to operate the business and report periodically on the performance and financial

Comparing analytical themes Thesis Example | Topics and Well Written Essays - 2500 words

Comparing analytical themes - Thesis Example The origin of Transnationalism in Africa can be traced back to the post independence period in the 1960s. Most countries in Africa got their independence from their colonial masters and this ushered in a new set of leadership throughout the continent. The political class emerged as the de facto custodians of the post colonial state and thus took most of the national resources. The civil class that comprised of educated and informed citizens was left out of the decision making process and this generated intense struggles for power and influence (Okome & Olufemi, 2012). This gave rise to transnational dynamics as some citizens struggled to cope with national and global forces. The authors argue that globalization preceded transnationalism. Globalization can be defined as the process through the world has integrated through interchange of ideas, trade and culture. Further, advances in technology have made it possible for people from diverse geographic locations to communicate with other. Imperatively, geographical boundaries no longer restrict the flow of communication and ideas among all the people in the globe. It can be argued that indeed there has been a high level of interconnectedness as has been witnessed in the recent past. Globalization was also fuelled by the inevitable interdependence of countries for trade under other aspects of cooperation. With the realization that no country can prosper alone, the concept of globalization was slowly established as countries strived to be linked. Inevitably, Africa had to play its role in the globalized world. The world economy is interconnected and all the regions have a stake in it. After colonialism, African countries had to grapple with the new realities of managing themselves. This responsibility of African states managing themselves came with the requirement that the countries had to be economically empowered. The poor infrastructure in most post colonial African countries meant that the countries